Durango Manufacturing Company is progressive and poised for a successful future. To best maximize company revenue and position in the industry, it should consider increasing revenue by 10% in the next five years. As a consultant, our firm encourages the organization and CEO to consider methods of implementation to develop the company going forward. Several items must be taken care of to change revenue per business year. These steps include checking on our labor productivity and also department development which affects revenue collection. If taken seriously and implementation is successful, these strategies will help to achieve the desired goal of attaining 10% revenue in the next five years. One must understand that the integral core of a company rests in its accounting and financial areas. The departments’ need employees with an advanced knowledge and skill set to ensure the payment of supplies and accounting on the expenditure is correctly recorded. If the accounting desk presents inaccurate spending calculations on behalf of the company, it could result in spending more than what has actually been earned; this could lead to the company not only being unable to increase in revenue, but also experience loss. It is imperative that the management of the financial department is well informed and able to make decisions by taking into account the usage of every coin stated in the expenditures, and also to know the amount of revenue the company is making so that we can plan on better strategies to improve the revenues (Lu, Madu, Kuei & Winokur, 1994). The financial department requires highly adept employees with thorough knowledge and/or experience with accounting and bookkeeping. This is a department that should be managed keenly ... ... middle of paper ... ... Works Cited Kaplan, R. S., & Norton, D. P. (1998). Putting the balanced scorecard to work. The Economic Impact of Knowledge, 315-24. Porter, M. E., & Kramer, M. R. (2002). The competitive advantage of corporate philanthropy. Harvard business review, 80(12), 56-68. Katzenbach, J. R., & Smith, D. K. (1993). The discipline of teams (pp. 111-120). Harvard Business Press. Cummings, T. G., & Worley, C. G. (2009). Organization development and change. Cengage Learning. Kaplan, R. S., & Norton, D. P. (2000). Having trouble with your strategy?: Then map it. Harvard Business School Publishing Corporation. Byrne, J. A. (1993). The horizontal corporation. Business Week, 20(1993), 76-81. Lu, M. H., Madu, C. N., Kuei, C. H., & Winokur, D. (1994). Integrating QFD, AHP and benchmarking in strategic marketing. Journal of Business & Industrial Marketing, 9(1), 41-50.
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In response to declining sales and uneven profits, Riordan has been forced to change its sales process and has adopted a customer-relationship management (CRM) system. Customers are now served by sales teams rather than a single sales person. In addition to the sales person, the team typically includes a product engineering specialist and customer service rep. Riordan has also implemented a Six Sigma quality approach and is ISO9000 certified. These measures were adopted with the hope that sales would improve. Internally however, a recent employee survey revealed that employee motivation, satisfaction and retention are down.
Katzenbach, J., and Smith, D. (2001). The Discipline of Teams. New York: Wiley & Sons.
Answer 1: Formulating policies for corporate philanthropy can be utilized to manipulate the competitive context of any company, allowing the company to improve its competitive edge. However, while doing so, it can only fulfill the demands of some of its stakeholders.
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By using their existing expertise, resources and facilities the efficiency of their philanthropic initiatives may be enhanced. However, this type of philanthropy usually addresses areas with little relevance to the company’s stakeholders. Because of its internal focus, constricted philanthropy often tends to neglect stakeholder needs and expectations. Charitable activities are often restricted to the company’s core operations, utilizing their own products, services and unique skills of their employees.
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Finance and accounting department are both related on how to keep manage the financial resources and fund flow. This department has its sub system such as account receivable, account
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Accounting is one of the fastest growing fields in the United States It expands each time a new store, a factory, a filling station, or a school goes up, whether in a large city or a small town. In today's society, the demand for good accountants for exceeds the supply. As our country has expanded, business and industry have become more and more complex, so control here is very important. And control depends on a great deal of the bookkeepers and accountants who can analyze figues and advise management on what should be done. They are using more scientific ways changing money, figuring change, and collecting sales taxes. Moreover, department stores and other companies now have plants and offices widely scattered throughout the country. A new set of bookkeepers and accountants, is needed at each branch. I know there are many managements supervisory, and junior or senior executive positions are bing filled by people who started as accountants because accountants have the knowledge of methods and finance and comprehension of the fundamentals of business, and acc...