UofP - MBA560 - Team Assignment - Scenario Two Benchmarking - Sikes - 07-08-06

UofP - MBA560 - Team Assignment - Scenario Two Benchmarking - Sikes - 07-08-06

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CareNetWest 1 Running head: CARENETWEST COMPANIES, INC. BENCHMARKING ANALYSIS CareNetWest Companies, Inc. Benchmarking Analysis Robert Sikes University of Phoenix July 8, 2006
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CareNetWest 2 CareNetWest Companies, Inc. Benchmarking Analysis [To be completed by Thadeaus] Current Situation [To be completed by Thadeaus] Problem Statements The problem statement for CareNetWest must include opportunities, enable many possible solutions, be motivational, and clear (University, 2006). Therefore, the statements prepared for CareNetWest are presented below: “CareNetWest desires to have a clear, workable strategy on how to ensure internal control over financial reporting, corporate compliance, and ethics will deliver the outcomes required under Sarbanes-Oxley regulatory statutes by implementing enterprise risk management principles best practices.” While each problem statement is a generalization of several issues and challenges, this allows for the development of multiple solutions to address the opportunities and supports the vision and culture of CareNetWest (University, 2006). Benchmarking Data An effective tool that will assist CareNetWest in reaching the desired end state and goals is benchmarking. Benchmarking is used by organizations in order to improve performance by identifying successful practices that other organizations have already discovered (University, 2006). Benchmarking allows organizations to compare the performance of their product or processes externally with those of other companies. By applying the best demonstrated practices, organizations can improve upon their own products or processes. This process will allow CareNetWest to analyze how other organizations have approached similar issues and challenges.
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CareNetWest 3 Conducting the Research In order to compile pertinent information in this benchmarking exercise, Learning Team B developed a list of topics to explore. Additionally, the team researched specific companies that faced similar situations to CareNetWest incorporating key concepts from the course text into this research process, which provided for a well-rounded evaluation of potential solutions and subsequent risk assessment and mitigation for CareNetWest. The specific company researched was Amcor Limited. The corresponding topic researched was Sarbanes-Oxley (SOX) compliance. Subsequently, conducting the research for this project involved gathering information from a variety of sources directly related to SOX compliance. The company’s website provided comprehensive information regarding corporate governance, strategy and objectives, and SOX internal control compliance. Additionally, the required course text and articles provided salient information regarding SOX internal control compliance and corporate governance. Information Summary of Companies Benchmarked
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This note was uploaded on 06/12/2011 for the course ETHICS mba taught by Professor Wilkes during the Spring '05 term at University of Phoenix.

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UofP - MBA560 - Team Assignment - Scenario Two Benchmarking - Sikes - 07-08-06

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