What about the “accountability” part of the accounting process? Why do we need that and how do we enforce it? Businesses need to be held accountable for the methods they use to run a business because the potential for greed, theft, and dishonesty exist in every business. You have only to read the current events section of the newspaper to realize how rampant corporate abuse is in business today. There are specialized areas of accounting, that when correctly enforced, eliminate the possibility for fraud. Auditing and income taxation, when used correctly, force business to account for all business income, transactions, and transfers, and then to pay their fair share of the tax burden. The catch here is that the principles must be correctly enforced.
Accounting is the conscious of the business world. When handled with care and with respect, it performs as expected. When abuse occurs, and the system is circumvented or overridden because of dishonesty and greed, it doesn’t work correctly. Accounting is much like all other systems in place, they are only as good as the people using them.
Friday, April 23, 2010
10-day MBA: D3Accounting-- The Importance Of Accounting
Accounting allows you to plan for future expenditures, to see where you are under and over paying for expenditures. It allows you to see where your inventory is and whether it is where it needs to be to meet sales quotas. It allows you to see if you are making sales and losing money or making sales and making money. It allows you to take control of a business before the business takes control of you.
Accounting is a very important term to our modern society. It is the career for people who at the start have their eyes set on top positions in industry, management, government, and general business. It's so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep the records. In large business, modern accounting machines are used to operate. People are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.
Accounting is a vital element of business. It records the way a business has grown and, after analyzing figures, suggests the way it should go in the future. Fortunes are gambled on the advice of accountants.
Accounting is a very important term to our modern society. It is the career for people who at the start have their eyes set on top positions in industry, management, government, and general business. It's so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep the records. In large business, modern accounting machines are used to operate. People are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.
Accounting is a vital element of business. It records the way a business has grown and, after analyzing figures, suggests the way it should go in the future. Fortunes are gambled on the advice of accountants.
Tuesday, April 20, 2010
10-day MBA: D2-Ethics --about reputation
A good reputation is your company’s best asset. Invest in your company’s reputation. Have your marketers identify places where your company can get the best bang for its buck, then give back to your community with targeted charitable contributions and special events. Contribute to your public radio station, host the Special Olympics, or sponsor a clean-up day in the local park. A proactive investment that shows your customers and community that your company is “giving back” will probably be less expensive, and certainly more satisfying, than hiring expensive reputation gurus would be.
Core value and universal slogan , Corporations will be expected in future to “build a better future” – not only for their shareholders but also for their customers, workers, business partners, community, nation and the wider world. Those with effective business ethics based on this core value will have an added competitive advantage: attracting and retaining talent and generating positive reactions in the marketplace.
Core value and universal slogan , Corporations will be expected in future to “build a better future” – not only for their shareholders but also for their customers, workers, business partners, community, nation and the wider world. Those with effective business ethics based on this core value will have an added competitive advantage: attracting and retaining talent and generating positive reactions in the marketplace.
10-day MBA: D2-Ethics --Social Responsibility
10-day MBA: D2-Ethics --Social Responsibility
Social responsibility and business ethics are often regarding as the same concepts. However, the social responsibility movement is but one aspect of the overall discipline of business ethics. The social responsibility movement arose particularly during the 1960s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in society and particularly in the natural environment.
As recently as a decade ago, many companies viewed business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporations are being asked, encouraged and prodded to improve their business practices to emphasize legal and ethical behavior. Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility.
Social responsibility and business ethics are often regarding as the same concepts. However, the social responsibility movement is but one aspect of the overall discipline of business ethics. The social responsibility movement arose particularly during the 1960s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in society and particularly in the natural environment.
As recently as a decade ago, many companies viewed business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporations are being asked, encouraged and prodded to improve their business practices to emphasize legal and ethical behavior. Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility.
10-day MBA: Marketing- PLC and 4p’ analysis
Stages in the Product Life Cycle
• Introduction
• Growth
• Maturity
• Decline
• Individual brands may not follow this pattern
o sometimes a product may crash and not get to the maturity stage
• Each market should be carefully defined
o depends on where on the planet you are talking, some products are at different stages in the PLC depending on the country
• Product Life Cycle - length of time at each stage - varies
o depends on the products
o can be a few months in each stage
o or it can be years
The major marketing management decisions can be classified in one of the following four categories:
* Product
* Price
* Place (distribution)
* Promotion
These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market.
• Introduction
• Growth
• Maturity
• Decline
• Individual brands may not follow this pattern
o sometimes a product may crash and not get to the maturity stage
• Each market should be carefully defined
o depends on where on the planet you are talking, some products are at different stages in the PLC depending on the country
• Product Life Cycle - length of time at each stage - varies
o depends on the products
o can be a few months in each stage
o or it can be years
The major marketing management decisions can be classified in one of the following four categories:
* Product
* Price
* Place (distribution)
* Promotion
These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market.
10-day MBA: Marketing- SWOT analysis
SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.
In SWOT, strengths and weaknesses are internal factors.
A strength could be:
• Your specialist marketing expertise.
• A new, innovative product or service.
• Location of your business.
• Quality processes and procedures.
• Any other aspect of your business that adds value to your product or service.
A weakness could be:
• Lack of marketing expertise.
• Undifferentiated products or services (i.e. in relation to your competitors).
• Location of your business.
• Poor quality goods or services.
• Damaged reputation.
In SWOT, opportunities and threats are external factors.
An opportunity could be:
• A developing market such as the Internet.
• Mergers, joint ventures or strategic alliances.
• Moving into new market segments that offer improved profits.
• A new international market.
• A market vacated by an ineffective competitor.
A threat could be:
• A new competitor in your home market.
• Price wars with competitors.
• A competitor has a new, innovative product or service.
• Competitors have superior access to channels of distribution.
• Taxation is introduced on your product or service.
A word of caution, SWOT analysis can be very subjective. Do not rely on SWOT too much. Two people rarely come-up with the same final version of SWOT. TOWS analysis is extremely similar. It simply looks at the negative factors first in order to turn them into positive factors. So use SWOT as guide and not a prescription.
Simple rules for successful SWOT analysis.
• Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis.
• SWOT analysis should distinguish between where your organization is today, and where it could be in the future.
• SWOT should always be specific. Avoid grey areas.
• Always apply SWOT in relation to your competition i.e. better than or worse than your competition.
• Keep your SWOT short and simple. Avoid complexity and over analysis
• SWOT is subjective.
In SWOT, strengths and weaknesses are internal factors.
A strength could be:
• Your specialist marketing expertise.
• A new, innovative product or service.
• Location of your business.
• Quality processes and procedures.
• Any other aspect of your business that adds value to your product or service.
A weakness could be:
• Lack of marketing expertise.
• Undifferentiated products or services (i.e. in relation to your competitors).
• Location of your business.
• Poor quality goods or services.
• Damaged reputation.
In SWOT, opportunities and threats are external factors.
An opportunity could be:
• A developing market such as the Internet.
• Mergers, joint ventures or strategic alliances.
• Moving into new market segments that offer improved profits.
• A new international market.
• A market vacated by an ineffective competitor.
A threat could be:
• A new competitor in your home market.
• Price wars with competitors.
• A competitor has a new, innovative product or service.
• Competitors have superior access to channels of distribution.
• Taxation is introduced on your product or service.
A word of caution, SWOT analysis can be very subjective. Do not rely on SWOT too much. Two people rarely come-up with the same final version of SWOT. TOWS analysis is extremely similar. It simply looks at the negative factors first in order to turn them into positive factors. So use SWOT as guide and not a prescription.
Simple rules for successful SWOT analysis.
• Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis.
• SWOT analysis should distinguish between where your organization is today, and where it could be in the future.
• SWOT should always be specific. Avoid grey areas.
• Always apply SWOT in relation to your competition i.e. better than or worse than your competition.
• Keep your SWOT short and simple. Avoid complexity and over analysis
• SWOT is subjective.
Wednesday, March 3, 2010
10-day MBA: Marketing-Summary
Definition of marketing:
Getting the right goods, to the right people, in the right place, at the right time, at the right price, with the right level of communication profitably.
How do you know they are all right?
1. Analysis-Analysis-Analysis: Consumer, Market, Competition and Distribution
a. consumer analysis: segmentation
b. market analysis: PLC
c. competitive analysis: SWOT
d. distribution analysis: channels
2. Development of the Marketing Mix: 4 P's
3. Determine the economics: cost
4. Revise
Getting the right goods, to the right people, in the right place, at the right time, at the right price, with the right level of communication profitably.
How do you know they are all right?
1. Analysis-Analysis-Analysis: Consumer, Market, Competition and Distribution
a. consumer analysis: segmentation
b. market analysis: PLC
c. competitive analysis: SWOT
d. distribution analysis: channels
2. Development of the Marketing Mix: 4 P's
3. Determine the economics: cost
4. Revise
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