Digital Transformation – Part 1
Assignment 1 – Part 1 Individual assignment
Situation:
You are a consultant hired to provide guidance for a family-owned small sized accounting and marketing service-based business with 20 employees based in Vancouver, B.C. The organization earns revenue through providing a range of accounting and consulting services to customers globally. The organization structure is hierarchical in nature. The CEO makes all the major decisions but looks to the staff for their buy-in and recommendations.
Although very successful in delivering the service to clients globally, much of the work is done using little digital technology. For example, accounting is very much paper based with rooms full of boxes of invoices and other accounting documents.
The CEO of the company has heard about the digital transformation and wonders what that would look like for the company. Unfortunately, the CEO knows little to nothing about what digital transformation means. If the CEO likes the idea, you might get hired to create a plan and execute a digital transformation for the business.
Part 1:
The first part of the assignment is to write a paper that explains the concept of digital transformation to the company CEO. The paper will do a deep exploration and provide the CEO with a broad view of digital transformation and explains how your consulting team might be able to help with the transformation. Given the limited information, create a list of assumptions about the business.
The paper will contain the following:
· APA 7th Edition Title Page
· Executive Summary
· Table of Contents
· Introduction
· Explain all the assumptions that you are using for this paper.
· Explain the concept of digital transformation.
· Explain the difference between digital transformation and business transformation.
· Explain the tangible and intangible value digital transformation brings to the company.
· Explain the risks digital transformation brings to the company.
· Explain the impact of digital transformation on organizational culture. Which organizational cultures might work best for digital transformation?
· Using Kaplan and Norton’s Balanced Scorecard (four key areas), identify what might be the challenges for each area. For each challenge identified, what might be the mitigation?
· Using the TAM or UTAUT model identify the challenges that the company might encounter with staff and digital transformation.
· Pick any organization and provide an example of a department that went through digital transformation and how it benefited that organization.
· As the consultant, what would be the recommendation or recommendations as the starting point for this company’s digital transformation?
· Conclusion
Requirements:
· Part 1 of this project is an individual one.
· The project will be written in APA 7th edition format.
· Please review the following link for writing a strong executive summary: how_to_write_an_exex_summ_to_use_4_18_18.pdf (harvard.edu)
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Digital Transformation – Part 1Assignment 1 – Part 1 Individual
1. Digital Transformation – Part 1
Assignment 1 – Part 1 Individual assignment
Situation:
You are a consultant hired to provide guidance for a family-
owned small sized accounting and marketing service-based
business with 20 employees based in Vancouver, B.C. The
organization earns revenue through providing a range of
accounting and consulting services to customers globally. The
organization structure is hierarchical in nature. The CEO makes
all the major decisions but looks to the staff for their buy-in and
recommendations.
Although very successful in delivering the service to clients
globally, much of the work is done using little digital
technology. For example, accounting is very much paper based
with rooms full of boxes of invoices and other accounting
documents.
The CEO of the company has heard about the digital
transformation and wonders what that would look like for the
company. Unfortunately, the CEO knows little to nothing about
what digital transformation means. If the CEO likes the idea,
you might get hired to create a plan and execute a digital
transformation for the business.
Part 1:
The first part of the assignment is to write a paper that explains
the concept of digital transformation to the company CEO. The
paper will do a deep exploration and provide the CEO with a
broad view of digital transformation and explains how your
consulting team might be able to help with the transformation.
Given the limited information, create a list of assumptions
about the business.
The paper will contain the following:
· APA 7th Edition Title Page
· Executive Summary
2. · Table of Contents
· Introduction
· Explain all the assumptions that you are using for this paper.
· Explain the concept of digital transformation.
· Explain the difference between digital transformation and
business transformation.
· Explain the tangible and intangible value digital
transformation brings to the company.
· Explain the risks digital transformation brings to the company.
· Explain the impact of digital transformation on organizational
culture. Which organizational cultures might work best for
digital transformation?
· Using Kaplan and Norton’s Balanced Scorecard (four key
areas), identify what might be the challenges for each area. For
each challenge identified, what might be the mitigation?
· Using the TAM or UTAUT model identify the challenges that
the company might encounter with staff and digital
transformation.
· Pick any organization and provide an example of a department
that went through digital transformation and how it benefited
that organization.
· As the consultant, what would be the recommendation or
recommendations as the starting point for this company’s digital
transformation?
· Conclusion
Requirements:
· Part 1 of this project is an individual one.
· The project will be written in APA 7th edition format.
· Please review the following link for writing a strong executive
summary: how_to_write_an_exex_summ_to_use_4_18_18.pdf
(harvard.edu)
· The paper must have an introduction and conclusion. Please
follow best practices for introduction and conclusion. Please
review ( https://edubirdie.com/blog/research-paper-
introduction#:~:text=%20Writing%20an%20Introduction%20to
3. %20a%20Research%20Paper,is%20important.%206%20State%2
0your%20hypothesis.%20More%20) for introduc tion best
practices. Please review
https://library.sacredheart.edu/c.php?g=29803&p=185935 for
conclusion best practices
· There is no minimum, but the maximum length is 12 pages not
including the cover page and the reference page.
· Diagram and tables in the paper are encouraged. They can be
incorporated into the body of the paper. Ensure the writing
incorporates the diagram and the table.
· The paper is a research-based consulting paper. The tone and
style must be appropriate.
· Remember the purpose of the paper – You are writing it for
the CEO to help understand digital transformation and the
impacts and rewards of this change. Do not assume the CEO
knows anything. Do not assume that the CEO will fill in the
gaps of knowledge. Be specific and explicit in the writing.
· A minimum of 5 academic peer reviewed, or academic
industry journals, periodical sources from library must be used.
A minimum of 5 non-academic sources from industry websites,
or industry experts must be used.
· Turnitin score must be less than 5% in the body only.
· Marks will be based on the rubrics below.
Support:
· Turnitin is set up to allow the students to test the paper for
similarity. One test per 24 hour up to due date.
Topics
Comments
Max. Grade
4. Subject Matter (55%)
Subject Matter (55%)
· Key elements of assignments are covered
· Content is comprehensive, accurate, persuasive
· Displays an understanding of relevant theory
· Major points supported by specific references
· Research is adequate/timely and citations are academically
valid.
55
Organization (15%)
Organization (15%)
· The introduction provides a sufficient background on the topic
and previews major points
· Central theme/purpose is immediately clear
· Structure is clear, logical, and easy to follow with proper
headings
· Subsequent sections develop/support the central theme
· The conclusion follow logically from the body of the paper
15
Style/Mechanics (30%)
Style/Mechanics (30%)
(10+10+10)
APA 7th (10%)
· Title page is present and properly formatted – separate page
· Reference page is present and properly formatted – separate
page
· Citations/reference page follow APA guidelines
·
· Properly cites ideas from other sources
5. 10
Grammar/Punctuation/Spelling (10%)
· Grammar
· Spelling
· Punctuation
10
Readability/Style (10%)
· Sentences are complete, clear, and concise
· Sentences are well-constructed with consistently strong,
varied structure
· Transitions between sentences/paragraphs/sections help
maintain the flow of thought
· Words used are precise and unambiguous
· The tone is appropriate to the audience, content, and
assignment
10
Grade on 100
Subtotal
100
Penalties
1
6. Title of the Document
Student’s Name
American Intercontinental University
Running head: STUDENT’S TOPIC
STUDENT’S RESEARCH TOPIC 4
Introduction (1/2 to 3/4 page)
In the introduction, paraphrase the below scenario using APA
format and describe what steps you will take to prepare the
master budget for June.
You are the managerial accountant at Reliable Company and ar e
part of the organization’s budgeting committee. You have been
assigned to support the marketing department and manage its
master budget. The marketing department is responsible for the
following:
· Managing the firm's marketing
· Hiring subcontractors
· Selling the consulting expertise to smaller outside firms
The department's expenses are as follows:
· Salaries and benefits of $48,000/month
· Web site operations of $21,000/ month
· Online advertising expenses of $15,000/month
· Miscellaneous expenses of $3,500/month
The sales forecast for its consulting services are as follows:
· April: $190,000
· May: $200,000
· June: $205,000
The department pays a sales commission of 5%, and this is paid
in the following month. Subcontractor expenses are estimated at
45% of sales and are paid the month after they are billed.
Consulting fees are collected 20% in the month of sale, 70% in
the following month, and 10% in the second month following
7. sale.
Background (1/2 page)
Discuss the benefits and limitations of the master budgeting
process, the budgets included in the master budgeting process
and the steps that the marketing department will take to prepare
the master budget.
Scenario Analysis (1 page)
Market Department Master Budget – June (complete the below
schedules)
June
Consulting Revenues (Chapter 20 - PAGE 1005)
Less: Commissions
Less: Subcontractor expenses
Net revenues
Expenses
Salaries and benefits
Web site operations
Online advertising expenses
Other misc. expenses
8. Total expenses
Net department expenses
Expected Cash Collections (Chapter 20 – PAGE 1008-1009)
June collections on account:
April sales
May sales
June sales
Total cash collections
Expected Cash Disbursements (Chapter 20 – PAGE 1009-1010)
Salaries and benefits
Web site operations
Other misc. expenses
Online advertising expenses
Sales commissions (5% of sales)
Cost of sales (45% of sales)
9. Total cash disbursements
Net impact on cash
Budget Based Recommendations ( ½ to 2 pages)
Use the guiding questions below to develop recommendations
based on the June budget to help the manager of the marketing
department
· How does the master budget help the manager understand the
company’s external environment and the impact the
environment have on the marketing department?
· How does the budget help the manager with forecasting?
· How does the budget help the marketing department
coordinate their needs with other departments?
· How can the budget be used to evaluate the marketing
department’s performance?
10. Conclusion (1/2 page)
In this section, summarize the results of your analysis and the
overall uses and limitations of the budget to the marketing
department
References
Double space do not indent, but do alphabetize. Use APA style.
If the citation carries over to the next line, the lines will
automatically be in hanging indent when you use the following
template (overwrite the first two and when you hit <enter>
twice after that, the references will fall in hanging indent
naturally).
Applebaum, B. C., Zuckerman, M. Y., & Wu, X. (2014). Title of
article in sentence case: Subtitle in sentence case. Journal in
Title Case, X, 45-56.
O’Hara, C. (1986). Name of book in sentence case: Subtitle in
sentence case. City, ST: Name of Publisher.
Budget DataReliable Company Marketing Department Master
BudgetDataAprilMayJuneBudgeted consulting revenues$
190,000$ 200,000$ 205,000Less: Sales commissions (5% of
11. sales)$ 9,500$ 10,000$ 10,250Less: Cost of sales (45% of
sales)$ 85,500$ 90,000$ 92,250Net consulting revenues$
95,000$ 100,000$ 102,500Accounts Receivable Collections
Month of sale20% Month following sale70% Second month
following sale10%Monthly Budgeted Expenses Salaries and
benefits$ 48,000 Web site operations$ 21,000 Online
advertising expenses$ 15,000 Other misc. expenses$
3,500Accounts Payable Payments Month of sale40% Month
following sale60%Accounts Payable Online advertising
expenses$ 15,000
Schedules for StudentsMarketing Department Master Budget
JuneConsulting RevenuesLess: CommissionsLess: Subcontractor
expensesNet revenuesExpenses Salaries and benefits Web site
operations Online advertising expenses Other misc.
expensesTotal expensesNet department expensesExpected Cash
CollectionsJune collections on account: April sales May sales
June salesTotal cash collectionsExpected Cash Disbursements
Salaries and benefits Web site operations Other misc. expenses
Online advertising expenses Sales commissions (5% of sales)
Cost of sales (45% of sales)Total cash disbursementsNet impact
on cash