Week 6 Financial Mgmt 2 - year plan. Another important step...

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Apparently my previous post aligned with the wrong question. It should have been one above…. Sorry for the confusion. According to the steps outlines by Delilah: In financial planning one of the steps is to determine the funds needed for a 5 year plan. I would think this is pretty difficult for a company that has been expanding and growing as much as ours has. The types of things that would have to be taken into account are the cost of opening new locations and how much it would cost to staff those locations. Also, if they continue to buyout other companies, how much they will need to set aside for those acquisitions. Another area of consideration would be if any serious upgrades are going to occur in any sector such as software, hardware, or renovations to current locations that cost would also need to be projected in their 5
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Unformatted text preview: year plan. Another important step is to watch once the plan is in place to see if there are any deviations and then try to correct them. One thing that could happen is an unusually and unexpected high rate of turnover. This would cause a huge increase in recruitment and training costs. It is important when there is a significant change that occurs to try to get a handle on it but understanding why the change is occurring and trying to prevent its continuation. I find that many companies are simply reactive in this type of crisis and focus only on a heave push or recruiting instead of finding out why those employees thought they would be happier somewhere else and trying to correct their shortcomings as an employer. This may reduce the amount of turnover and increase current employee’s satisfaction and productivity....
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This note was uploaded on 03/26/2012 for the course F1515 F1515 taught by Professor Stan during the Spring '10 term at Keller Graduate School of Management.

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