Case Study 10.1 Electrolux Cleans Up Essay - 615 Words

Case Study 10.1: Electrolux Cleans Up Amanda M. Green BUS5450 – Organizational Behavior Dr. McKibbin August 10, 2012 Electrolux Cleans Up The housewives of today rely on innovation to produce household products with the capabilities of simplifying their jobs at home. Companies, such as Electrolux, have teams of employees assigned to the task of creating new kitchen appliances and cleaning products geared around the needs of the world that can take their company to next level in modern technology. With the fierce competition threatening the success of Electrolux, the company revamps their strategy by appointing Hans Straberg as the new Chief Executive. The strain on the company’s finances left Mr. Straberg with no choice but to†¦show more content†¦This allowed them to discuss out loud what they felt needed to be done in order to produce exactly what the consumers wanted. It was the ultimate think tank. His reason for this was so that everyone could be on the same page. Based on the case study, prior to this every department did its own thing which leads to complications down the line. The most beneficial thing that came out of the collaboration was the ability to nip the problems from the beginning. It saves so much time and money if the problem can be stopped or prevented in general. For instance, during the case study when designers wanted the â€Å"Breeze† to be smaller, the engineer Frucco was able to tell them right from the start that the charging station wouldn’t fit in a smaller model (Ivancevich, Konopaske, amp; Mattenson, 2011). It saved time by not having to create a model and recreate it. These minor details are what set Electrolux apart from the competition. The company’s ability to function as a team allowed them to gain different perspectives and create in a shorter time period than the rest. The case study proves that when it comes to the consumers, they do not care about price as much as they do effectiveness. If the product gives the consumer exactly what they need and want, they are more than willing to pay the price. A company’s success depends solely on each department’s ability to function as one and without teamwork this task is impossible. References Ivancevich, J. M.,Show MoreRelatedMarketing Mix of Haeir18481 Words   |  74 Pagesproject â€Å"Marketing Mix Mapping For Haier In Refrigerators, Washing Mapping And Air Conditioners â€Å" is a record of work conducted by me towards completion of summer internship program in ICFAI BUSINESS SCHOOL in Bhubaneswar. No part of the research study has been presented for any other degree or diploma. Place: BHUBANESWAR DATE: Read MoreCase Study148348 Words   |  594 Pages978-0-273-73552-6 (web) All rights reserved. Permission is hereby given for the material in this publication to be reproduced for OHP transparencies and student handouts, without express permission of the Publishers, for educational purposes only. 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Acc/230 Week 6 Assignment Free Essays

Week 6 Assignment: Candela Corporation Case Rebecca Mouser ACC/230 Financial Reporting: Peeking Under the Financial Hood November 4, 2012 Instructor Nathan McDaniel Week 6 Assignment: Candela Corporation Case Assignment: Candela Corporation Case Resource: Ch. 4 of Understanding Financial Statements * Compose a 500- to 750-word paper responding to questions 1 and 2 of the Candela Corporation Case on p. 146 (Ch. We will write a custom essay sample on Acc/230 Week 6 Assignment or any similar topic only for you Order Now 4). * Format your paper according to APA standards. * Post your paper as an attachment. 1. Using the Consolidated Statements of Cash Flows, prepare a summary analysis for the years ended July 3, 2004, June 28, 2003, and June 29, 2002. Analyze the cash flows for Candela Corporation, Inc. for all three years. 2. Explain what information you gain from the statement of cash flows that cannot be found directly from the balance sheet or income statement. â€Å"Candela Corporation is a pioneer in the development and commercialization of advanced aesthetic laser systems that allow physicians and personal care practitioners to treat a wide variety of cosmetic and medical conditions† (Fraser amp; Ormiston, 2007, pp. 46-147). After reviewing the corporation’s statement of cash flows for the years 2002, 2003, and 2004, it is clear that the company has taken on many changes financially. In 2002, Candela Corporation had a weak start with several losses compared to the years 2003, and 2004. In 2002, Candela had a net loss of $2,154 (thousands) compared to a net gain in 2003 and 2004. Candela Corporation had a significantly higher amount of loss in its net cash used in operating activities of $7,071 (thousands) compared to its net loss of $2,154 (thousands), a difference of $4,917. Candela Corporation also had a net loss in its investing activities of $1,058 (thousands), and a net loss in its financing activities of $5,141 (thousands). Candela also had a loss of $68 (thousands) on its income taxes for the year. In 2002, the company took a loss in the following operating areas according to their statement of cash flows. Provision for deferred taxes $115 (thousands), tax benefit from exercised stock options $6 (thousands), effect of exchange rate changes on foreign currency denominated assets and liabilities of $305 (thousands). Account receivable $3,525 (thousands), notes receivable $54 (thousands), inventories $1,661 (thousands), and accounts payable $3,069 (thousands) and income tax payable $784 (thousands). Net losses in investing and financing areas include purchase of property, plant, and equipment of $1,058 (thousands), repurchases of treasury stock of $5,215 (thousands), and principle payments of long-term debt of $370 (thousands). In 2003, Candela Corporation had a net profit at the yearend of $6,814 (thousands) with a net cash used in operating activities of $11,655 (thousands); a significant difference from 2002. Candela Corporation still had a net loss in its investing activities of $1,227 (thousands) while they had a net profit in its financing activities of $176 (thousands). Other net losses the company incurred in its operating, investing, and financing activities sections were provision for bad debts $13 (thousands), provision for deferred taxes $682 (thousands), and tax benefit from exercised stock options of $505 (thousands). Other areas are restricted cash $57 (thousands), account receivable $2,417 (thousands), accounts payable $1,409 (thousands). Accrued warranty costs of $921 (thousands), purchase of property, plant, and equipment $1,227 (thousands), net borrowings (repayments) on line of credit $1,114 (thousands), and principle payments of long-term debt of $3,330 (thousands). Candela Corporation seems to be most successful in 2004 according to its statement of cash flows. In 2004, Candela Corporation had a net income of $8,119 (thousands) and $1,132 used in net operating activities. Even though the company still had several losses in 2004 they were still able to profit from the last two years. Other net losses the company incurred in its operating, investing, and financing activities sections were tax benefit from exercised stock options of $1,223 (thousands), restricted cash $200 (thousands), accounts receivable $7,663 (thousands) and inventories of $2,134 (thousands). Other current assets of $2,550 (thousands), other assets $236 (thousands), accounts payable $91 (thousands), income tax payable $1,312 (thousands), and purchase of property, plant, and equipment of $685 (thousands). The income statement and balance sheet provides an adequate amount of information, but the statement of cash flows provides a clearer picture of what a company is doing and how well they are doing. The income statement and balance sheet provides information about the accounts receivable and the accounts payable as well as depreciation; the statement of cash flows also provides this information. â€Å"A company’s financial statements consist of the balance sheet, income statement and cash flow statement. The balance sheet summarizes the assets, liabilities and shareholders’ equity of the company. The income statement shows the sales-related activity over a period, which is usually a quarter of a year. The cash flow statement shows the cash inflows and outflows during a period. Financial information is important in assessing a company’s profitability, detecting problem areas and making investment decisions† (Basu, 1999-2012). References Basu, C. (1999-2012). The importance of Income Statement and Cash Flows. Retrieved from eHow: http://www. ehow. com/info_8274659_importance-income-statement-cash-flows. html Fraser, L. M. , amp; Ormiston, A. (2007). Case 4. 2 CandelaCorporation. Prentice Hall. How to cite Acc/230 Week 6 Assignment, Papers

Operation Management Business and Administration

Question: Discuss about theOperation Management for Business and Administration. Answer: Introduction: Operation management involves the business and administration practices for creating a perfect level of efficiency within a company. According to Ageron, Gunasekaran Spalanzani (2012), operation management is solely concerned with the labor, converting materials and the services of products in order to enhance the final process of profit of an organisation. In this present essay, various relevant issues will be discussed that are encountered by Hawkesbury Cabinet Pty Ltd. This company manufactures kitchen cabinetry, which is produced on the preferences of the customer. The essay will also identify several operational elements, which are responsible for influencing the overall image and production of the concerned company. The operation management of an organisation usually deals with a vast range of roles and responsibilities for maintaining the concerns of supply chain management for further success of an organisation. Wong et al., (2012) have mentioned that the operation management of an organisation also includes the adequate management of adopted strategies to complete the project in proper time. Even process manager should be competent enough to take appropriate decisions during the crisis period of the organisation. Only with good strategy by the operation manager, the encountered crisis can be mitigated (Hill Hill, 2012). Discussion In this section, the present production system and the process of Hawkesbury Cabinets Pty Ltd. will be discussed in a detailed manner. Mei Chen and Fung in Sydney established this company in 2008. With the talent and skill of Mei and Fung, who are qualified cabinetmaker and interior designer and potential to produce an excellent product for their company. This company has been established in order to provide efficient services to the customers of Hawkesbury in China at the initial stage. However, with the constant demand and criteria of the customers, Hawkesbury Cabinets Pty Ltd. Changes own strategy to expand the business. The primary concern of these two founders was to provide manufactured cabinets to the customers according to their diverse preferences (Hassini, Surti Searcy, 2012). Although at the initial stage, the founders have encountered with serious problems, as there are a huge variety of cabinet demands arriving from the customers, however, they have solved this issue wi th the adaptation of effective strategies. Fung has taken the role of production and operation manager, and Mei has taken care the financial segments of Hawkesbury Cabinets Pty Ltd. in order to solve the problem in a proper manner. Mei has shown perfect potentiality as financial manger within the organisation and has taken the entire responsibility of the general manager of the concerned company. Therefore, with the proper distribution of the managerial roles and responsibilities of Hawkesbury Cabinets Pty Ltd., every task are completed within appropriate time, and it also helps to enhance the brand image of the company. The managers of Hawkesbury Cabinets Pty Ltd. solely concentrates on manufacturing the kitchen set and cabinets on the preferences and choices of the consumers for achieving the best place in the market and industry of furniture. At first, Fung consults with the customers about their choice about the cabinets of the kitchen. After that consults with Mei to improve the design, color for a perfect, unique and attractive kitchen cabinet. Both the managers have understood the fact that satisfying the customer's need and demand is the primary principle to continue the business and achieve the best position in the market with a high range of profit (Basaran, 2012). As Hawkesbury Cabinets Pty Ltd. is famous for providing the kitchen cabinets according to the preferences of customers, therefore, this company has earned reputation in a short period than the other competitor businesses in the market. This company becomes famous for providing standard quality product at less expensive prices. Th e company is capable to manufacture limited kitchen cabinets in small batches, which is ranged in between single to five kitchen cabinet (Ratnasingam, Yoon Iora, 2013). The custom-designed kitchen cabinetry of Hawkesbury Cabinets Pty Ltd. captures most the sales revenue of the company. Hawkesbury Cabinets Pty Ltd. operates with the facility of a single manufacturer, which is potential enough to manufacture both the standardised and customised kitchen cabinetry. This company involves high quality raw material in order to add adequate flexibility to the complete kitchen cabinets. All the equipment are segmented in the separate portion of the factory of this concerned company. The basic manufacturing tasks are completed in one area, and the finishing and painting part of these manufactured kitchen cabinets are done in a separated area of the factory with the proper maintenance of element of the environment (Pakdil Leonard, 2014). Various assembly areas are established in a strategic manner within the plant. The finishing system of the manufactured product of Hawkesbury Cabinets Pty Ltd is of high esteem, and it reveals the skill, artisanship and the high quality raw materials of the kitchen cabinet. The new builders' kitchen line has tremendous impact on the operations and process of Hawkesbury Cabinets Pty Ltd. as since past few months, the sale of builders' line of kitchen has been increased in a gradual manner only because of regular scheduling of the work. The custom kitchen was always concerned with the profit margin and higher sales revenue during the trade-offs. However, a huge range of standard cabinet components was left at the different stages of completion only because of the changes in the volume of the work process. Therefore, the previous manufacturing area of Hawkesbury Cabinets Pty Ltd. has been completely transformed into the partially completed kitchen cabinets, with which the factory is clogged up, and it is not at all the spacious area of manufacturing. After reviewing the entire process and operations of the new builders' kitchen line, Mei Chen has noted the factors that influence the growth of the profit and sales revenue of the company. However, the profit margin of the custom kitchen is strong, and the position of builders' kitchen line is constantly increasing. The accountant of the concerned company argues that the profit margins are not up to the mark and satisfactory at all, if it is considered to be compared with the previous profit margins of the company. This problem may arrive because of inefficient operational management of an organisation, which is not perfect to mitigate the organisational issues (Sayem, Islam Khan, 2014). A significant amount of money is tied up with the unfinished product of Hawkesbury Cabinets Pty Ltd, therefore, the completion of the product will take more time than the promised delivery period. The existing operation management of this company limiting the manufacturing capacity. Therefore, both the managers should adopt potential and adequate strategies to regain the past position of the company with perfect operation management. Conclusion The essay carefully evaluates and analyse the production system and process of the Hawkesbury Cabinets Pty Ltd. it also discussed the impact of new builders' kitchen line on the operational structure of this company. This essay adequately addresses the issues related operation management of the concerned company as it has a proper capability to achieve the targeted goal of the company. At the end of this essay, both the manager have decided to improve the structure and the functions of operation management for the future success of the company. If the operation management is not properly structured then it will undoubtedly hamper the profit margin of the company, which is evident in the case of Hawkesbury Cabinets Pty Ltd. References Ageron, B., Gunasekaran, A., Spalanzani, A. (2012). Sustainable supply management: An empirical study.International Journal of Production Economics,140(1), 168-182. Basaran, B. (2012). What makes manufacturing companies more desirous of recycling?.Management of Environmental Quality: An International Journal,24(1), 107-122. Hassini, E., Surti, C., Searcy, C. (2012). A literature review and a case study of sustainable supply chains with a focus on metrics.International Journal of Production Economics,140(1), 69-82. Hill, A., Hill, T. (2012).Operations management. Palgrave Macmillan. Pakdil, F., Leonard, K. M. (2014). Criteria for a lean organisation: development of a lean assessment tool.International Journal of Production Research,52(15), 4587-4607. Ratnasingam, J., Yoon, C. Y., Iora, F. (2013). The effects of ISO 9001 quality management system on innovation and management capacities in the malaysian furniture sector.Bulletin of the Transilvania University of Brasov, Series II. Forestry, Wood Industry, Agricultural Food Engineering,(1). Sayem, A., Islam, M. A., Khan, M. M. A. (2014). Productivity enhancement through reduction of changeover time by implementing SMED techniquein furniture industry.International Journal of Industrial and Systems Engineering,17(1), 15-33. Wong, C. W., Lai, K. H., Shang, K. C., Lu, C. S., Leung, T. K. P. (2012). Green operations and the moderating role of environmental management capability of suppliers on manufacturing firm performance.International Journal of Production Economics,140(1), 283-294.