week 7 ACCY 111 RJD Lecture 2

Airport curfews or crew flying hours undertake

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airport curfews or crew flying hours
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Undertake position analysis STAR PROBLEM CHILD CASH COW DOG COMPETITIVE POSITION M A R K E T G R O W T H low high low high
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Enterprise Objectives Maximisation of sales revenue – this does not consider the need to cover business costs. Maximisation of profit – this takes into account sales revenues as well as expenses but does not include other factors such as risk. Maximisation of return on capital employed - accounts for the level of profit and the level of investment. Enhancement / maximisation of business wealth encompasses all of the above in terms of the value of the business – but has a longer term focus.
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Enterprise Objectives Survival – is the aim of most businesses but rarely a primary objective. Long term stability – also a common goal but rarely a primary objective. Growth - encompasses survival and long-term stability and aims to strike a balance between short and long-term benefits, however it is probably not a specific enough target.
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Enterprise Objectives Sustainable Development - achieving economic growth while minimising or eliminating environmental impact and meeting society’s expectations of good corporate citizenship Satisficing - in the face of conflicting objectives this is a decision-making strategy that attempts to meet criteria for adequacy, rather than to identify an optimal solution. Difficult to define as a practical benchmark for business decisions.
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Competitor analysis Objectives The competitor’s likely actions Resources and capabilities Strategies Assumptions How serious is the threat? How will it get there? Where is the competitor going? What is the competitors view of the world?
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The management accountant’s role Who are our most important customers and how do we deliver value to them ? Toyota has developed flexible computer-integrated manufacturing to tailor cars to customer requirements What substitute products or services exist in the market and how do they differ from our products or services in terms of price and quality? 2degrees broke into the New Zealand mobile phone market by offering cheap prepay and text packages
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The management accountant’s role What is our most critical capability? Is it technology, production or marketing? How can we leverage it for new strategic initiatives? Hubbards uses its local brand and strength to broaden the range of its cereal products. Will adequate cash be available to fund the strategy; or will additional funds need to raised? “Rakon uses surplus funds for growth” (11/11/2010). The company has paid no dividend since listing in 2006.
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Short term planning and budgeting How do we put all of that into practice? We will return to the annual planning and budgeting cycle
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All Information Has a Cost Does the production and provision of a particular piece of information exceed the cost of producing it?
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