Marketing Essay Example | Topics and Well Written Essays - 1000 words - 5

Marketing - Essay Example The main purpose of corporate strategy is to find ways to optimize the current business portfolios of a firm and how this can be changed to meet the stakeholder’s changing interests (Sudi,2003). An organization or a firm will have numerous business and operations ranging from a single industry to multiple industries. Hence, the corporate strategy can not be developed without integrating the various business strategies of a firm. Overall objectives and aims of an organization are formulated based on the overall functions and operations of an organization. Any corporate strategy that is developed without taking into account the various operations or businesses will fail to achieve the overall organizational objectives and aims. Also the goals and objectives of an organization must not be isolated but must be designed in a manner to achieve the vision of the organization, and must be interrelated. The corporate strategy is aimed at achieving this vision (Gallagher, 2010). Four ke y dimensions Asking the right question would determine the dimension of a well –developed business strategy. ... This key dimension determines the role of an organization in the market, the type and kind of products that they must put out or the type of service that is intended to be provided to the customers. What? To achieve a pre-dedicated objective and aim, what are the measures that must be undertaken must be seriously focused for the final goal achievement. This must include intervention from all aspects of the business and must involve the inclusion of role of newer technology, competition, the effect of globalization, the customers demand, the demographic trends and health care sector in terms of organizational staff well being. Hence the â€Å"what† answers the key portion of the plan. Who? Putting the right person to the job is as important measure in attainment of targets through proper guidance and leadership role. The leadership spectrum ranges from individual reasoning like planning, analysis, monitoring, evaluation and control. And these can be achieved through experience within an organization. The second feature that an employer must have is emotions that determine the quality of the person in terms of crisis. Hence the answer must be formulated on who would do the specific job and gain results for the organization. How? The execution of the plan must be addressed with this part of the question. All previously planned goals must be implemented for the achievement of objective and aims set by the organization. For this to happen six key supporting features must always be part of implementation process, which are ongoing actions planning, organization structure, development of human resource, the annual plan, monitoring and control and a overall linkage that combines all aspects of the implementation. An

Historic cost accounting Case Study Example | Topics and Well Written Essays - 1000 words

Historic cost accounting - Case Study Example Unemployment in the UK has fallen to a twenty five year low and yet inflation has remained low. This shows that there has been an improvement in the trade-off between inflation and unemployment. The non accelerating inflation rate of unemployment (or NAIRU) has declined because of increased flexibility in the labour market and a reduction in structural unemployment. (Has the UK supply side improved') Estimates show that London has a higher level of wages than the North East (approximately 40 per cent higher, and approximately 30 per cent higher than the Great Britain average), and has seen the strongest wage growth between 1993 and 2003 in nearly all industry groups (especially in services industries). The North East, by comparison, has cheaper wage costs in all industries compared with the Great Britain average (approximately 10 per cent less), and has seen a lower wage growth in nearly all industry groups. 3 the big advantage of hca is that it leads to absolute certainty and it fits in perfectly with the cash flow statement. Hca tells us exactly what has been paid and what has been received and therefore there is no doubt about balance sheet amounts. The alternatives, where accountants attempt to take inflation into account, can lead to many problems. There have been several forms of current cost accounting, purchasing power accounting and so on since the mid 1970s that have been proposed as alternatives to hca. The reason the alternatives have not survived, and IAS 15 on inflation accounting is about to be replaced, if it hasn't been already, is that no one can agree on the best way to represent accounting values. Hca provides definite values, other methods don't! 4 the disadvantages of hca include the fact that hca values can relate to transactions that could be a year old, 10 years old and as much as 100 years old. It's true that some businesses have old equipment and old stocks (inventories) that are still working well but that were bought a long time ago: the problem is that the acquisition value may be out of date and so the balance sheet is showing out of date values. Taxation problems come with inflation accounting. In times of high levels of inflation, profits are inflated and therefore the tax bill tends to increase: this is the reason that inflation accounting was developed in the UK and elsewhere in the 1970s and onwards. Guess what, though' Accountants found solutions to the inflation accounting problem that led to lower taxation but the Inland Revenue didn't like what the accountants