Running Head: Wish You Wood 2
Abstract
Toy stores are the best in this world. Crafted wooden toys are the unique ones which includes
lot of effort. Wish you wood toy store is the best crafted toy store near Piney Lake. Jim and Pam
Klein are applying different strategies to develop their business. Despite their efforts, they are not
seeing profits. Hence, there is a need for them to check whether their strategies are right or not. To
do this, they first need to understand their business thoroughly. This can be done by developing a
SWOT Analysis.
SWOT Analysis is a planning technique which helps the business holders to identify the areas
they are perfect and at the same time to identify the areas they are weak based on the circumstances.
SWOT is: Strengths, Weaknesses, Operations and Threats. This Analysis covers all the four areas
which helps to improve the functioning of the business.
Wish you wood toy store needs a SWOT Analysis to know about what they need to grow their
sales.
Keywords: SWOT, planning, toy store, change
Running Head: Wish You Wood 3
The first question for the case study is to prepare a SWOT Analysis for Wish You Wood Toy
Store. Below is the SWOT Analysis for the Wish you wood toy store. This SWOT Analysis is
developed by examining every aspect that is needed to help make a viable recommendation for the
store.
SWOT ANALYSIS
Strengths:
1. The toy store is still financially strong because of the regular customers they have.
Financial wise they are in the starting level and their regular customers are their strength
to take their store to next level.
2. Basically, the store is located near piney lake which is a visiting place for many people.
So, most of their customers will be the visitors who comes to enjoy their time with the
family. Location of the store near a tourist kind of place is another strength.
3. Choosing their items that needs to be sold is the reason for their uniqueness. They are
investing their time to select their store products.
Weakness:
1. Depending more on the profits is the weakness of the store. This need for profits is making
them choose the option of being a partner is actually not bringing them much profits and
is decreasing their toy value.
2. Encouraging only the local customers is another point. Reviews given by local customers
will be known only in that town but not to the world out there.
Opportunities:
Running Head: Wish You Wood 4
1. Taking a feedback will help the store to know what the customer wants. Using this, they
can add the products that the customer wishes for.
2. Letting the people know about the store using the advertisement platform through
pamphlets, visiting cards etc.
3. Opening small franchises like kiosk stores in other cities in order to get the fame for their
crafted toys.
Threats:
1. Being a partner with the bestselling online shopping website is a threat s.
CEOThe mission of Knockout Shoes is to be recognized as a soci.docxtidwellveronique
CEO
The mission of Knockout Shoes is to be recognized as a socially responsible company providing high quality shoes for the North American and Latin American markets.
The overall strategy of Knockout Shoes is focused differentiation while addressing socially responsible business practices. The decisions by operations, financing, and marketing support this strategy because we have limited all production to North America and Latin American. We have limited sales to Wholesale and Internet sales in North America and Latin America. We have purchased the contracts of Ophrah Beyonse, Tiger Green, and Jose Montana. We have engaged in green manufacturing practices. We have limited the number of models sold. We use high-quality materials in the manufacturing process. We have provided sufficient capital to sustain operations. We have provided a return to stockholders and to society.
VPO
We produce all of our shoes in North America and Latin America because this allows for better control over the manufacturing process and reduces the cost to ship shoes to the two target markets. We limited our models to 50 to maintain better control over the manufacturing process and to limit the costs for styling. We have set our superior material usage rate at 80% to ensure a high quality shoe. We use green materials. We have set the enhanced styling features to $20,000 per model to support the production of a shoe that is perceived to be high quality. We have invested in energy efficiency. We use recycled boxing materials. Our entire workforce has received ethics training, and we have a diverse workforce. We spend $2,000 per worker on Best Practices Training.
VPM
We have set our wholesale price at $60 and our internet price at $85 because the shoes are high quality shoes. We sell only in North America and Latin America. We do not allow internet sales outside of North America and Latin America. We have contracted with Ophrah Beyonse, Tiger Green, and Jose Montana because these three have the best celebrity appeal scores for our two markets. We do not provide for private label production because it does not support our strategy of focused differentiation. We have set our advertising budget at $10,000,000. We offer a $3 rebate as part of our advertising strategy. We are able to provide delivery within 1 week because most of our shoes are manufactured in the country in which they are sold. We have few shipments between North America and Latin America.
VPF
We have issued 100,000 shares of stock and secured a 10-year bank loan of $8,000,000 to finance operations. We declared a dividend of $.15 to provide a return to stockholders. We have plans to ensure that ROE is at least 15% per year. We have plans to ensure that our cost of pairs sold is no more than 53%. We have plans to ensure that our default risk is no more than Medium. We have committed 3% of pre-tax profits for charitable contributions.
The New Product Development Proce ...
This document provides an overview of the course materials for MKT 575 Entire Course. It lists the weekly assignments, which include analyzing a company's marketing strategy, creating a pitch deck for a challenging consumer market, writing memos on buyer behavior and marketing research, and conducting an analysis for a new product launch. It also provides sample assignment descriptions and instructions for a marketing research brief and new product launch analysis. The document aims to provide students with a full course overview and guidance on the weekly assignments.
CEOThe mission of Knockout Shoes is to be recognized as a soci.docxtidwellveronique
CEO
The mission of Knockout Shoes is to be recognized as a socially responsible company providing high quality shoes for the North American and Latin American markets.
The overall strategy of Knockout Shoes is focused differentiation while addressing socially responsible business practices. The decisions by operations, financing, and marketing support this strategy because we have limited all production to North America and Latin American. We have limited sales to Wholesale and Internet sales in North America and Latin America. We have purchased the contracts of Ophrah Beyonse, Tiger Green, and Jose Montana. We have engaged in green manufacturing practices. We have limited the number of models sold. We use high-quality materials in the manufacturing process. We have provided sufficient capital to sustain operations. We have provided a return to stockholders and to society.
VPO
We produce all of our shoes in North America and Latin America because this allows for better control over the manufacturing process and reduces the cost to ship shoes to the two target markets. We limited our models to 50 to maintain better control over the manufacturing process and to limit the costs for styling. We have set our superior material usage rate at 80% to ensure a high quality shoe. We use green materials. We have set the enhanced styling features to $20,000 per model to support the production of a shoe that is perceived to be high quality. We have invested in energy efficiency. We use recycled boxing materials. Our entire workforce has received ethics training, and we have a diverse workforce. We spend $2,000 per worker on Best Practices Training.
VPM
We have set our wholesale price at $60 and our internet price at $85 because the shoes are high quality shoes. We sell only in North America and Latin America. We do not allow internet sales outside of North America and Latin America. We have contracted with Ophrah Beyonse, Tiger Green, and Jose Montana because these three have the best celebrity appeal scores for our two markets. We do not provide for private label production because it does not support our strategy of focused differentiation. We have set our advertising budget at $10,000,000. We offer a $3 rebate as part of our advertising strategy. We are able to provide delivery within 1 week because most of our shoes are manufactured in the country in which they are sold. We have few shipments between North America and Latin America.
VPF
We have issued 100,000 shares of stock and secured a 10-year bank loan of $8,000,000 to finance operations. We declared a dividend of $.15 to provide a return to stockholders. We have plans to ensure that ROE is at least 15% per year. We have plans to ensure that our cost of pairs sold is no more than 53%. We have plans to ensure that our default risk is no more than Medium. We have committed 3% of pre-tax profits for charitable contributions.
The New Product Development Proce ...
This document provides an overview of the course materials for MKT 575 Entire Course. It lists the weekly assignments, which include analyzing a company's marketing strategy, creating a pitch deck for a challenging consumer market, writing memos on buyer behavior and marketing research, and conducting an analysis for a new product launch. It also provides sample assignment descriptions and instructions for a marketing research brief and new product launch analysis. The document aims to provide students with a full course overview and guidance on the weekly assignments.
Vijay Mohire presents a strategy for innovating a shoe company. He analyzes the company's profile, noting opportunities for improving vision/goals, reviews, employee satisfaction, and use of IT. Mohire assesses the need for innovation in areas like market surveys, client satisfaction, and leveraging the internet. He outlines choices to progress cautiously with a proof of concept or model store. Mohire offers to document current processes, make recommendations, and help engage partners to implement selected changes.
The document discusses key differences between marketing and selling concepts, philosophies of marketing, and marketing analysis and environment forces.
The marketing concept focuses on understanding customer needs and wants to produce products that satisfy them, while the selling concept focuses more on selling goods produced regardless of customer wants.
Marketing philosophies include production, product, selling, and societal concepts. Marketing analysis involves a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, and match strengths to opportunities while mitigating weaknesses and threats.
Microenvironment forces close to the company like customers, suppliers, and departments must work together to create value. Macroenvironment forces from broader society like demographics and environment trends also influence companies and markets.
The document discusses how technology and online research has changed buyer behavior, with customers now 57% through the purchasing process before contacting a salesperson. This has increased the value of subject matter experts who can provide insights beyond what customers find online. The document recommends that companies train their salespeople to become subject matter experts by understanding customer buying behaviors, industry trends, and how to identify opportunities to add value. It provides examples of how one financial company significantly increased sales by restructuring their sales team and processes to focus on a consultative, subject matter expert approach.
The document discusses developing a strategic plan. It begins by explaining that strategic planning is the process of developing and maintaining a strategic fit between an organization's goals and capabilities and its changing marketing opportunities. This involves defining a clear mission, setting objectives, designing business strategies, and coordinating functional strategies. Strategic planning sets the stage for other planning activities. The document then discusses analyzing a company's current business portfolio, including identifying strategic business units and assessing their attractiveness. It describes the Boston Consulting Group approach to portfolio analysis, which evaluates business units based on market growth and market share.
This document provides an introduction to product and brand management. It discusses the role of the product manager, including their responsibilities for product planning, analysis, forecasting, and getting organizational support for marketing programs. It describes different types of marketing organizational structures and how the product manager's role varies within each. It also outlines the key tasks involved in product management and the qualities of an effective product manager. Finally, it discusses concepts like branding, maintaining brand values, the brand lifecycle, and developing new brands.
Business Models: Six recommendations to enable business model innovation in t...melnorman
Advances in technology have disrupted the creative marketplace. What customers value and will pay for has changed and companies who don’t evaluate their existing business models risk losing their relevance.
There is a lot of discussion around reinventing ‘business models’ and ‘strategy’ but there is a lack of clarity about what this means and even less about how to apply it.
So how does this impact the creative industries, which have undergone more change than most sectors over the last 10 years?
The part time Business Model Theme Champion role, funded by and on behalf of the Creative Industries KTN, focused on transferring current business model practice to the creative industries, using that to shape and inform business model innovation and examine how businesses can better articulate new and emergent business models.
This document is not meant as a scientific document or academic paper but a combination of a summary of my learnings from both my year’s tenure, as well as the thoughts and experiences from those who kindly attended workshops and roundtables or were consulted as experts or as leading companies in their field. My intention is to start a conversation around business model innovation in the creative and digital sectors and for the recommendations to be explored further.
Strategic management involves developing a plan to guide a company in accomplishing its goals. It is crucial for building a successful business and creating a competitive advantage. The strategic management process includes steps such as developing a vision and mission statement, assessing strengths and weaknesses, analyzing competitors, and establishing controls to monitor performance. Strategic management provides direction, motivates employees, and allows a company to differentiate itself in the market.
This document contains a copyright notice for a book on business acumen published by NexGen Prep, Inc. in 2015. It states that no part of the publication may be reproduced without prior written permission, except for brief quotations for non-commercial uses permitted by copyright law. It then provides a table of contents that lists 10 chapters on topics related to business acumen, including key performance indicators, risk management strategies, recognizing learning events, and financial literacy. The preface provides an overview of the book and what readers will learn about increasing financial literacy, improving business sense, recognizing learning events, managing risk better, and increasing critical thinking.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
The document outlines the 9 steps of the strategic management process: 1) Develop a clear vision and mission statement, 2) Assess strengths and weaknesses, 3) Scan for opportunities and threats, 4) Identify key success factors, 5) Analyze competition, 6) Create goals and objectives, 7) Formulate strategies, 8) Translate plans into action, 9) Establish controls. It provides details on developing a vision and mission statement to guide the company and communicating it effectively. It also discusses analyzing the internal/external environment, competition, and key success factors to craft strategic plans and maintain a competitive advantage.
The document discusses the importance of an effective operating model for product organizations to successfully execute strategies. It identifies four key factors of an operating model: product mindset, organizational design, development model, and decision making structure. Product mindset focuses on understanding customer needs rather than requests. Organizational design calls for a product management team separate from engineering and sales. The development model addresses balancing in-house versus outsourced work. Decision making aims to minimize risk through lean methodology and experimentation.
The article discusses how strategy development must be seen as a revolutionary action within an organization. It lists 10 attributes of such an action, arguing that revolution is needed to secure a position in a changing market. These attributes include having an imaginative vision, subverting the status quo, and empowering employees. The article is relevant to strategic management as it advocates a radical approach to strategy that can identify new market opportunities and drive organizational change.
Dominica EsonoCOMM 526SPRING2022TASK 1&21. What is DustiBuckner14
Dominica Esono
COMM 526
SPRING2022
TASK 1&2
1. What is your personal interest or issue?
My personal interest or issue would be why is harder for black entertainers being successful in the Music Industry.
2. What are the component parts of this interest?
The components part would be: Lack of recognition, Inequality treatment, are Record Labels taking action?.
3. Why did you become curious about this question?
I become curious about this question for professional experience.
4.What previous knowledge do you have about your interest.
What I know so far, is that this issue has been going on since music has been created, but this has never been ‘’trendy’’ because is not convenient for some people.
5.What personal experience do you have that influences you about this interest.
I do not have any experience so far , but as a black person, I already this issues is something that sooner or later , I will have to deal with .
6.What are your beliefs , biases, and opinions about this interest or issue ?
I have emotional opinions about it . The fact that black people going through a lot in order to get an opportunity to show their talent to the world , it is something that as a black person and human being, emotionally affect me .
7. What predisposes you to certain conclusions about the issue or concern of study?
The undeniable reality of the situation exposed daily both in television as social media.
8.How will you identify and isolate your personal bias, opinion, feelings, and intuition to preserve a neutral position as a researcher?
Being totally and strictly objective on the issue following real events and researches.
9. Clearly identify the subject of the study interest
Sociology
10. Are you looking at individuals , groups or organizations?
I would say group since I am talking about an specific racial group.
11.Specifically name the individuals, groups , or organizations that you plan to study.
Black Americans , black Hispanics and Africans musicians.
12. What academic fields best lend themselves to your subject and perspective for research?
Sociology perspective
13. What are the specific knowledge areas of this academic field that will best help in exploring and defining the research subject?
-Sociological Social Psychology (health,race,ethnicity)
- Social change ( causes and effects / “what is “ & “what changes” / Technology)
-Population and Demographics (Population number and quality)
- Sociological Methods & Research (People’s actions and behaviors)
14.What additional knowledge of this academic filed do you need to acquire to have a solid foundation to address this interest?
Applied Sociology , finding and addressing the issue.
BUS 8303, Entrepreneurship and Innovative Business Development 1
Course Learning Outcomes for Unit VI
Upon completion of this unit, students should be able to:
2. Analyze the role of an entrepreneurial mindset in opportunity recognition.
2.1 Analy ...
1. The document discusses managing the personal selling function, focusing on key aspects like organizing the sales force, managing key accounts, and selecting and training high-performing account managers.
2. It emphasizes that effective sales force management through planning, organizing, directing, and controlling personal selling efforts is fundamental to a firm's success. This involves tasks like forecasting, determining the size of the sales force, and establishing goals and metrics to monitor performance.
3. Managing key accounts, which are large customers that demand special services, requires a dedicated key account manager and cross-functional team. High performing account managers excel at building relationships within the customer organization to design proposals that meet the customer's needs.
MKT 421 EDU Redefined Education--mkt421edu.comkopiko182
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will
MKT 421 EDU Education Counseling -- mkt421edu.comkopiko97
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels of
MKT 421 EDU Achievement Education--mkt421edu.comkopiko163
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels
Creating Actionable Product Strategy by Turo Director of ProductProduct School
Main Takeaways:
- Measure what matters – Establishing the right metrics and KPIs early on can provide tremendous clarity. Driving towards the wrong goals can result in team misalignment, at best, and a failed product strategy, at worst.
- Distinguish the highest impact ideas from the good ideas
- Most companies have lots of good ideas. PMs must separate the great from the good, and craft product strategies that yield the highest impact outcomes for their customers and business.
Iterate, based on customer feedback & data – Great product strategies should evolve over time, with the ongoing incorporation of customer feedback, data, and stakeholder input. Strategies developed in a vacuum are unlikely to succeed, as are strategies that fail to evolve with the changing needs of customers.
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docxjeffsrosalyn
Problem 7. Dollars for Waiting?
Jeffrey Swift has been a messenger used by a couple of the local businesses where the Discrimina, Inc. machine shop is located. Sometimes he has done some extra errands inside the Discrimina building for a couple of hours. For the last several weeks, he has helped package items for shipment on Thursdays. Things have gone well, but Jeffrey is concerned because sometimes he has waited over two hours in the waiting room while waiting for the packaging to begin. He wouldn't mind but Discrimina pays only for packaging time, not for waiting time. He can never be certain when the parts will be ready for packaging because final quality checking time varies wildly.
Jeffrey has his own delivery business, but Discrimina has only paid him cash. Each time, Jeffrey has given the company a receipt for the cash. While he waits, he sometimes goes out for donuts for the crew. At other times, he plays games on his PDA or makes cell calls to friends.
Question
If Jeffrey Swift sues for the waiting time hours, what is the likely result and why? Write your answer in a Word document in 1-2 pages.
.
Problem 8-2B(a) Journalize the transactions, including explanation.docxjeffsrosalyn
Problem 8-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c)
Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed
...............................................................................
$
Balance before adjustment [see (b)]
................................................
Adjustment required
.......................................................................
$
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb
18
Apr
20
30
May
25
Aug
18
Sept.
1
Problem 9-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April
1
May
1
May
1
June
1
Sept
1
PART B
Dec
31
31
(c)
Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
.
More Related Content
Similar to Running Head Wish You Wood 2 Abstract Toy s.docx
Vijay Mohire presents a strategy for innovating a shoe company. He analyzes the company's profile, noting opportunities for improving vision/goals, reviews, employee satisfaction, and use of IT. Mohire assesses the need for innovation in areas like market surveys, client satisfaction, and leveraging the internet. He outlines choices to progress cautiously with a proof of concept or model store. Mohire offers to document current processes, make recommendations, and help engage partners to implement selected changes.
The document discusses key differences between marketing and selling concepts, philosophies of marketing, and marketing analysis and environment forces.
The marketing concept focuses on understanding customer needs and wants to produce products that satisfy them, while the selling concept focuses more on selling goods produced regardless of customer wants.
Marketing philosophies include production, product, selling, and societal concepts. Marketing analysis involves a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, and match strengths to opportunities while mitigating weaknesses and threats.
Microenvironment forces close to the company like customers, suppliers, and departments must work together to create value. Macroenvironment forces from broader society like demographics and environment trends also influence companies and markets.
The document discusses how technology and online research has changed buyer behavior, with customers now 57% through the purchasing process before contacting a salesperson. This has increased the value of subject matter experts who can provide insights beyond what customers find online. The document recommends that companies train their salespeople to become subject matter experts by understanding customer buying behaviors, industry trends, and how to identify opportunities to add value. It provides examples of how one financial company significantly increased sales by restructuring their sales team and processes to focus on a consultative, subject matter expert approach.
The document discusses developing a strategic plan. It begins by explaining that strategic planning is the process of developing and maintaining a strategic fit between an organization's goals and capabilities and its changing marketing opportunities. This involves defining a clear mission, setting objectives, designing business strategies, and coordinating functional strategies. Strategic planning sets the stage for other planning activities. The document then discusses analyzing a company's current business portfolio, including identifying strategic business units and assessing their attractiveness. It describes the Boston Consulting Group approach to portfolio analysis, which evaluates business units based on market growth and market share.
This document provides an introduction to product and brand management. It discusses the role of the product manager, including their responsibilities for product planning, analysis, forecasting, and getting organizational support for marketing programs. It describes different types of marketing organizational structures and how the product manager's role varies within each. It also outlines the key tasks involved in product management and the qualities of an effective product manager. Finally, it discusses concepts like branding, maintaining brand values, the brand lifecycle, and developing new brands.
Business Models: Six recommendations to enable business model innovation in t...melnorman
Advances in technology have disrupted the creative marketplace. What customers value and will pay for has changed and companies who don’t evaluate their existing business models risk losing their relevance.
There is a lot of discussion around reinventing ‘business models’ and ‘strategy’ but there is a lack of clarity about what this means and even less about how to apply it.
So how does this impact the creative industries, which have undergone more change than most sectors over the last 10 years?
The part time Business Model Theme Champion role, funded by and on behalf of the Creative Industries KTN, focused on transferring current business model practice to the creative industries, using that to shape and inform business model innovation and examine how businesses can better articulate new and emergent business models.
This document is not meant as a scientific document or academic paper but a combination of a summary of my learnings from both my year’s tenure, as well as the thoughts and experiences from those who kindly attended workshops and roundtables or were consulted as experts or as leading companies in their field. My intention is to start a conversation around business model innovation in the creative and digital sectors and for the recommendations to be explored further.
Strategic management involves developing a plan to guide a company in accomplishing its goals. It is crucial for building a successful business and creating a competitive advantage. The strategic management process includes steps such as developing a vision and mission statement, assessing strengths and weaknesses, analyzing competitors, and establishing controls to monitor performance. Strategic management provides direction, motivates employees, and allows a company to differentiate itself in the market.
This document contains a copyright notice for a book on business acumen published by NexGen Prep, Inc. in 2015. It states that no part of the publication may be reproduced without prior written permission, except for brief quotations for non-commercial uses permitted by copyright law. It then provides a table of contents that lists 10 chapters on topics related to business acumen, including key performance indicators, risk management strategies, recognizing learning events, and financial literacy. The preface provides an overview of the book and what readers will learn about increasing financial literacy, improving business sense, recognizing learning events, managing risk better, and increasing critical thinking.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
The document outlines the 9 steps of the strategic management process: 1) Develop a clear vision and mission statement, 2) Assess strengths and weaknesses, 3) Scan for opportunities and threats, 4) Identify key success factors, 5) Analyze competition, 6) Create goals and objectives, 7) Formulate strategies, 8) Translate plans into action, 9) Establish controls. It provides details on developing a vision and mission statement to guide the company and communicating it effectively. It also discusses analyzing the internal/external environment, competition, and key success factors to craft strategic plans and maintain a competitive advantage.
The document discusses the importance of an effective operating model for product organizations to successfully execute strategies. It identifies four key factors of an operating model: product mindset, organizational design, development model, and decision making structure. Product mindset focuses on understanding customer needs rather than requests. Organizational design calls for a product management team separate from engineering and sales. The development model addresses balancing in-house versus outsourced work. Decision making aims to minimize risk through lean methodology and experimentation.
The article discusses how strategy development must be seen as a revolutionary action within an organization. It lists 10 attributes of such an action, arguing that revolution is needed to secure a position in a changing market. These attributes include having an imaginative vision, subverting the status quo, and empowering employees. The article is relevant to strategic management as it advocates a radical approach to strategy that can identify new market opportunities and drive organizational change.
Dominica EsonoCOMM 526SPRING2022TASK 1&21. What is DustiBuckner14
Dominica Esono
COMM 526
SPRING2022
TASK 1&2
1. What is your personal interest or issue?
My personal interest or issue would be why is harder for black entertainers being successful in the Music Industry.
2. What are the component parts of this interest?
The components part would be: Lack of recognition, Inequality treatment, are Record Labels taking action?.
3. Why did you become curious about this question?
I become curious about this question for professional experience.
4.What previous knowledge do you have about your interest.
What I know so far, is that this issue has been going on since music has been created, but this has never been ‘’trendy’’ because is not convenient for some people.
5.What personal experience do you have that influences you about this interest.
I do not have any experience so far , but as a black person, I already this issues is something that sooner or later , I will have to deal with .
6.What are your beliefs , biases, and opinions about this interest or issue ?
I have emotional opinions about it . The fact that black people going through a lot in order to get an opportunity to show their talent to the world , it is something that as a black person and human being, emotionally affect me .
7. What predisposes you to certain conclusions about the issue or concern of study?
The undeniable reality of the situation exposed daily both in television as social media.
8.How will you identify and isolate your personal bias, opinion, feelings, and intuition to preserve a neutral position as a researcher?
Being totally and strictly objective on the issue following real events and researches.
9. Clearly identify the subject of the study interest
Sociology
10. Are you looking at individuals , groups or organizations?
I would say group since I am talking about an specific racial group.
11.Specifically name the individuals, groups , or organizations that you plan to study.
Black Americans , black Hispanics and Africans musicians.
12. What academic fields best lend themselves to your subject and perspective for research?
Sociology perspective
13. What are the specific knowledge areas of this academic field that will best help in exploring and defining the research subject?
-Sociological Social Psychology (health,race,ethnicity)
- Social change ( causes and effects / “what is “ & “what changes” / Technology)
-Population and Demographics (Population number and quality)
- Sociological Methods & Research (People’s actions and behaviors)
14.What additional knowledge of this academic filed do you need to acquire to have a solid foundation to address this interest?
Applied Sociology , finding and addressing the issue.
BUS 8303, Entrepreneurship and Innovative Business Development 1
Course Learning Outcomes for Unit VI
Upon completion of this unit, students should be able to:
2. Analyze the role of an entrepreneurial mindset in opportunity recognition.
2.1 Analy ...
1. The document discusses managing the personal selling function, focusing on key aspects like organizing the sales force, managing key accounts, and selecting and training high-performing account managers.
2. It emphasizes that effective sales force management through planning, organizing, directing, and controlling personal selling efforts is fundamental to a firm's success. This involves tasks like forecasting, determining the size of the sales force, and establishing goals and metrics to monitor performance.
3. Managing key accounts, which are large customers that demand special services, requires a dedicated key account manager and cross-functional team. High performing account managers excel at building relationships within the customer organization to design proposals that meet the customer's needs.
MKT 421 EDU Redefined Education--mkt421edu.comkopiko182
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will
MKT 421 EDU Education Counseling -- mkt421edu.comkopiko97
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels of
MKT 421 EDU Achievement Education--mkt421edu.comkopiko163
FOR MORE CLASSES VISIT
www.mkt421edu.com
Purpose of Assignment
A well planned distribution channel system is a key component of the marketing mix that helps meet customer demands and achieve company goals. This assignment will analyze the role channels
Creating Actionable Product Strategy by Turo Director of ProductProduct School
Main Takeaways:
- Measure what matters – Establishing the right metrics and KPIs early on can provide tremendous clarity. Driving towards the wrong goals can result in team misalignment, at best, and a failed product strategy, at worst.
- Distinguish the highest impact ideas from the good ideas
- Most companies have lots of good ideas. PMs must separate the great from the good, and craft product strategies that yield the highest impact outcomes for their customers and business.
Iterate, based on customer feedback & data – Great product strategies should evolve over time, with the ongoing incorporation of customer feedback, data, and stakeholder input. Strategies developed in a vacuum are unlikely to succeed, as are strategies that fail to evolve with the changing needs of customers.
Similar to Running Head Wish You Wood 2 Abstract Toy s.docx (20)
Problem 7. Dollars for WaitingJeffrey Swift has been a messenger.docxjeffsrosalyn
Problem 7. Dollars for Waiting?
Jeffrey Swift has been a messenger used by a couple of the local businesses where the Discrimina, Inc. machine shop is located. Sometimes he has done some extra errands inside the Discrimina building for a couple of hours. For the last several weeks, he has helped package items for shipment on Thursdays. Things have gone well, but Jeffrey is concerned because sometimes he has waited over two hours in the waiting room while waiting for the packaging to begin. He wouldn't mind but Discrimina pays only for packaging time, not for waiting time. He can never be certain when the parts will be ready for packaging because final quality checking time varies wildly.
Jeffrey has his own delivery business, but Discrimina has only paid him cash. Each time, Jeffrey has given the company a receipt for the cash. While he waits, he sometimes goes out for donuts for the crew. At other times, he plays games on his PDA or makes cell calls to friends.
Question
If Jeffrey Swift sues for the waiting time hours, what is the likely result and why? Write your answer in a Word document in 1-2 pages.
.
Problem 8-2B(a) Journalize the transactions, including explanation.docxjeffsrosalyn
Problem 8-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
1
2
3
4
5
(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts
Be sure to post the amounts to the correct side of the T-Account!
Accounts Receivable
Bal.
(2)
(1)
(3)
(5)
(4)
(5)
Bal.
Allowance for Doubtful Accounts
(4)
Bal.
(5)
Bal.
(c)
Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.
Balance needed
...............................................................................
$
Balance before adjustment [see (b)]
................................................
Adjustment required
.......................................................................
$
The journal entry would therefore be as follows:
(d) Accounts Receivable Turnover Ratios:
Enter your answer here
Average Collection Period:
Enter your answer here
Problem 8-6B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
Date
Account Titles and Explanation
Debit
Credit
5
20
Feb
18
Apr
20
30
May
25
Aug
18
Sept.
1
Problem 9-2B
(a) Journalize the transactions, including explanations.
(Note, enter all accounts in one box.
The dates have been included to help with formatting).
If there are two entries for the same day, then you do not need to enter the date again.
Date
Account Titles and Explanation
Debit
Credit
April
1
May
1
May
1
June
1
Sept
1
PART B
Dec
31
31
(c)
Partial Balance Sheet
TONG CORPORATION
Partial Balance Sheet
December 31, 2014
Assets
Plant assets
Account title
Amount
Account title
Amount
Account title
Amount
Account title (or contra account)
Amount
Total plant assets
Amount
Problem 9-7B
(a)
BUS 1
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 2
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
BUS 3
Year
Computation
Accumulated Depreciation
Amount
Amount
Amount
(b)
BUS 2
Year
Depreciation Expense
Amount
Amount
.
Problem 14-4AFinancial information for Ernie Bishop Company is pre.docxjeffsrosalyn
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 70,000
$ 65,000
Short-term investments
52,000
40,000
Receivables (net)
98,000
80,000
Inventory
125,000
135,000
Prepaid expenses
29,000
23,000
Land
130,000
130,000
Building and equipment (net)
168,000
175,000
$672,000
$648,000
Liabilities and Stockholders’ Equity
Notes payable
$100,000
100,000
Accounts payable
48,000
42,000
Accrued liabilities
44,000
40,000
Bonds payable, due 2016
150,000
150,000
Common stock, $10 par
200,000
200,000
Retained earnings
130,000
116,000
$672,000
$648,000
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$858,000
$798,000
Cost of goods sold
611,000
575,000
Gross profit
247,000
223,000
Operating expenses
204,500
181,000
Net income
$ 42,500
$ 42,000
Additional information:
1.
Inventory at the beginning of 2012 was $118,000.
2.
Total assets at the beginning of 2012 were $632,000.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $88,000.
(a)
Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013.
(Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
Acid-test
Receivables turnover
Inventory turnover
PROFITABILITY
Profit margin
Asset turnover
Return on assets
Earnings per share
$
(b)
Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $50,000. Total assets on December 31, 2014, were $700,000.
Situation
Ratio
(1)
18,000 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $9 on December 31, 2013, and $12.50 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
Debt to total assets
Price-earnings ratio
Click if you would like to Show Work for this question:
Open Show Work
.
Problem and solution essay about the difficulties of speaking Engli.docxjeffsrosalyn
Problem and solution essay about the difficulties of speaking English language for international students in the foriegn country.
- introduction with good thesis statement( start with transition word and include the problem and solution)
- first body paragraph ( define and explain the problem)
- second body paragraph. give the solution
- conclusion
two paraphrase
.
problem 8-6 (LO 4) Worksheet, direct and indirect holding, interco.docxjeffsrosalyn
problem 8-6 (LO 4) Worksheet, direct and indirect holding, intercompany mer-
chandise,
machine. The
following
diagram
depicts
the
relationships
among
Mary
Company, John Company, and Joan Company on December 31, 2014:
Mary
John
Owns 60%
Owns 40%
Joan
Owns 50%
Mary Company purchases its interest in John Company on January 1, 2012, for $204,000.
John Company purchases its interest in Joan Company on January 1, 2013, for $75,000. Mary
Company purchases its interest in Joan Company on January 1, 2014, for $72,000. All invest-
ments are accounted for under the equity method. Control over Joan Company does not occur
until the January 1, 2014, acquisition. Thus, a D&D schedule will be prepared for the invest-
ment in Joan as of January 1, 2014.
The following stockholders’ equities are available:
John
Joan
Company
December31
,
December 31
2011
2012
2013
Commonstock ($10par). ........... ............
$150,000
Commonstock ($10par). ........... ............
$100,000
$100,000
Paid-incapitalinexcess of par ............. ..... 75,000
Retained earnings .............................
75,000
50,000
80,000
Totalequity ......... ........... ............
$300,000
$150,000
$180,000
On January 2, 2014, Joan Company sells a machine to Mary Company for $20,000. The
machine has a book value of $10,000, with an estimated life of five years and is being depre-
ciated on a straight-line basis.
John Company sells $20,000 of merchandise to Joan Company during 2014 to realize a gross
profit of 30%. Of this merchandise, $5,000 remains in Joan Company’s December 31, 2014,
inventory. Joan owes John $3,000 on December 31, 2014, for merchandise delivered during
2014.
Trial balances of the three companies prepared from general ledger account balances on
December 31, 2014, are as follows:
Mary
John
Joan
Cash ...................... ........... ......
62,500
60,000
30,000
Accounts Receivable ........................... 200,000
55,000
30,000
Inventory ................... ........... ......
360,000
80,000
50,000
Investmentin JohnCompany........... ........ 270,000
Investmentin JoanCompany........... .......... 86,000
107,500
Property, Plant,andEquipment.... ........... ...2,250,000
850,000
350,000
Accumulated Depreciation ....... ........... .... (938,000)
(377,500)
(121,800
Mary
John
Joan
Intangibles.... ........... ........... .........
15,000
Accounts Payable ............... ........... ...
(215,500)
(61,000)
(22,000)
AccruedExpenses............... ........... ...
(12,000)
(4,000)
(1,200)
BondsPayable. ........... ........... .........
(500,000)
(300,000)
(100,000)
Common Stock($5par) ........................
(500,000)
Common Stock($10par) ....................... (150,000)
Common Stock($10par) ....................... (100,000)
Paid-In Capital inExcessof Par ...... ........... (700,000)
(75,000).
Problem 4-5ADevine Brown opened Devine’s Carpet Cleaners on March .docxjeffsrosalyn
Problem 4-5A
Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed.
Mar. 1
Invested $10,940 cash in the business.
1
Purchased used truck for $6,050, paying $3,025 cash and the balance on account.
3
Purchased cleaning supplies for $1,128 on account.
5
Paid $1,788 cash on one-year insurance policy effective March 1.
14
Billed customers $4,723 for cleaning services.
18
Paid $1,538 cash on amount owed on truck and $402 on amount owed on cleaning supplies.
20
Paid $1,648 cash for employee salaries.
21
Collected $1,926 cash from customers billed on March 14.
28
Billed customers $2,561 for cleaning services.
31
Paid gasoline for month on truck $393.
31
Withdrew $769 cash for personal use.
(a)
Your answer is correct.
Journalize the March transactions.
(Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
J1
[removed]
[removed]
[removed]
Click if you would like to Show Work for this question:
Open Show Work
SHOW LIST OF ACCOUNTS
SHOW ANSWER
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
LINK TO TEXT
Attempts: 2 of 5 used
(b) and (c)
Your answer is partially correct. Try again.
Prepare a trial balance at March 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet.
(1)
Earned but unbilled revenue at March 31 was $843.
(2)
Depreciation on equipment for the month was $463.
(3)
One-twelfth of the insurance expired.
(4)
An inventory count shows $273 of cleaning supplies on hand at March 31.
(5)
Accrued but unpaid employee salaries were $598.
DEVINE’S CARPET CLEANERS
Worksheet
For the Month Ended March 31, 2012
Trial Balance
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Account Titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Accounts Receivable
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Supplies
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Prepaid Insurance
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Equipment
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Accounts Payable
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Owner’s Capital
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
Owner’s Drawings
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[remove.
Problem 1-4A (Part Level Submission)Matt Stiner started a delivery.docxjeffsrosalyn
Problem 1-4A (Part Level Submission)
Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during the month of June.
June 1
Stockholders invested $14,493 cash in the business in exchange for common stock.
2
Purchased a used van for deliveries for $14,932. Matt paid $3,189 cash and signed a note payable for the remaining balance.
3
Paid $669 for office rent for the month.
5
Performed $4,502 of services on account.
9
Declared and paid $203 in cash dividends.
12
Purchased supplies for $109 on account.
15
Received a cash payment of $1,468 for services provided on June 5.
17
Purchased gasoline for $124 on account.
20
Received a cash payment of $1,385 for services provided.
23
Made a cash payment of $531 on the note payable.
26
Paid $122 for utilities.
29
Paid for the gasoline purchased on account on June 17.
30
Paid $1,255 for employee salaries.
(a)
Show the effects of the previous transactions on the accounting equation.
(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)
STINER DELIVERIES
Assets
=
Liabilities
+
Stockholders' Equity
Retained Earnings
Date
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Notes
Payable
+
Accounts
Payable
+
Common
Stock
+
Revenues
–
Expenses
–
Dividends
June 1
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
$
[removed]
2
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
3
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
5
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
9
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
12
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
15
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
17
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
20
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
23
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
26
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed].
PROBLEM 5-5BPrepare a correct detailed multiple-step income stat.docxjeffsrosalyn
PROBLEM 5-5B
Prepare a correct detailed multiple-step income statement.
Assume a tax rate of 25%.
WRIGHT COMPANY
Income Statement
For the Month Ended December 31, 2014
Sales Revenues
Account title
Amount
Account title
Amount
Account title
Amount
Net Sales
Cost of goods sold
Gross profit
Amount
Operating Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total operating expenses
Amount
Income from operations
Amount
Other revenues and gains
Account title
Amount
Other expenses and losses
Account title
Amount
Amount (Total)
Income before income taxes
Income tax expense
Net Income
P5-5B
An inexperienced accountant prepared this condensed income statement for
Wright Company, a retail firm that has been in business for a number of years.
WRIGHT COMPANY
Income Statement
For the Year Ended December 31, 2014
Revenues
Net sales $952,000
Other revenues 16,000
968,000
Cost of goods sold 548,000
Gross profit 420,000
Operating expenses
Selling expenses 160,000
Administrative expenses
104,000
264,000
Net earnings $156,000
As an experienced, knowledgeable accountant, you review the statement and determine
the following facts.
1. Net sales consist of sales $972,000, less freight-out on merchandise sold $20,000.
2. Other revenues consist of sales discounts $12,000 and interest revenue $4,000.
3. Selling expenses consist of salespersons’ salaries $88,000; depreciation on equip-
ment $4,000; sales returns and allowances $46,000; advertising $12,000; and sales
commissions $10,000. All compensation should be recorded as Salaries and Wages
Expense.
4. Administrative expenses consist of office salaries $54,000; dividends $14,000; utili-
ties $13,000; interest expense $3,000; and rent expense $20,000, which includes
prepayments totaling $2,000 for the first month of 2015. The utilities represent
utilities paid. At December 31, utility expense of $3,000 has been incurred but not
paid.
Problem 6-2B
(a) Determine the Cost of Goods Available for Sale
Date
Explanation
Units
Unit Cost
Total Cost
Total
(b) Determine the ending inventory and cost of goods sold under each of the assumed cost flow methods.
Prove the accuracy of the cost of goods sold under FIFO and LIFO.
FIFO
(1) Ending Inventory
(2) Cost of Goods Sold
Date
Units
Unit Cost
Total Cost
Cost of goods available for sale
Amount
Amount
Amount
Less: ending inventory
Amount
Amount
Amount
Total
Amount
Total
Amount
Cost of Goods Sold
Amount
Proof of Cost of Goods Sold (FIFO)
Date
Units
Unit Cost
Total Cost
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Total
Amount
Total
Amount
LIFO
(1) Ending Inventory
(2) Cost of Goods Sold
Date
Units
Unit Cost
Total Cost
Cost of goods available for sale
Amount
Amount
Amount
Less: ending inventory
Amount
Amount
Amount
Total
Amount
Total
Amount
Cost of Goods Sold
Amount
Proof of .
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docxjeffsrosalyn
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 147,864
$ 88,572
Accounts receivable
160,674
69,540
Inventory
205,875
188,216
Prepaid expenses
51,972
47,580
Long-term investments
252,540
199,470
Plant assets
521,550
443,775
Accumulated depreciation
(91,500
)
(95,160
)
Total
$1,248,975
$941,993
Liabilities and Stockholders’ Equity
Accounts payable
$ 186,660
$ 123,159
Accrued expenses payable
30,195
38,430
Bonds payable
201,300
267,180
Common stock
402,600
320,250
Retained earnings
428,220
192,974
Total
$1,248,975
$941,993
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$710,882
Less:
Cost of goods sold
$247,892
Operating expenses, excluding depreciation
22,710
Depreciation expense
85,095
Income tax expense
49,922
Interest expense
8,656
Loss on disposal of plant assets
13,725
428,000
Net income
$ 282,882
Additional information:
1.
New plant assets costing $183,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $105,225 and accumulated depreciation of $88,755 were sold for $2,745 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $47,636 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method.
(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.
Statement of Cash Flows
For the Year Ended December 31, 2014
$
$
$
[removed]
.
Problem 13-6AIrwin Corporation has been authorized to issue 20,80.docxjeffsrosalyn
*Problem 13-6A
Irwin Corporation has been authorized to issue 20,800 shares of $100 par value, 10%, noncumulative preferred stock
and 981,000 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At
December 31, 2014, the ledger contained the following balances pertaining to stockholders’ equity.
The preferred stock was issued for land having a fair value of $142,900. All common stock issued was for cash. In
November, 1,500 shares of common stock were purchased for the treasury at a per share cost of $14. In
December, 500 shares of treasury stock were sold for $15 per share. No dividends were declared in 2014.
Preferred Stock $119,000
Paid-in Capital in Excess of Par—Preferred Stock 23,900
Common Stock 981,000
Paid-in Capital in Excess of Stated Value—Common Stock 1,781,300
Treasury Stock (1,000 common shares) 14,000
Paid-in Capital from Treasury Stock 500
Retained Earnings 81,600
.
Prior to posting in this discussion, completeThe Parking Garage.docxjeffsrosalyn
Prior to posting in this discussion, complete
The Parking Garage
scenario interactivity module and view the video,
This is Water by David Foster Wallace
. Reflect on what you have seen and recall a time when you experienced simplistic and unfounded stereotypical thinking. What could you have done differently? What is something that you need to work on in the future to become a better critical thinker? 200 words
.
Prior to engaging in this discussion, read Chapters 10 and 11 in y.docxjeffsrosalyn
Prior to engaging in this discussion, read Chapters 10 and 11 in your text as well as the “Steps for Effective Discharge Planning” article, and review any relevant Instructor Guidance.
For this discussion, refer to the information in the
“Introduction to the Miller Family”
document.
Select one of the family members below whose medical condition has the potential to have worsened to the point that they would need to be hospitalized. Once you have chosen your subject, create a discharge scenario. Each of these family members has been introduced in an earlier assignment. Be sure to review your materials for that assignment including any relevant instructor feedback.
Option 1:
Elías - leukemia
Option 2:
Lila - diabetes (IDDM)
Option 3:
Sam - liver disease caused by heavy drinking
Option 4:
Lucy - bipolar disorder and serious substance abuse (dual diagnosis)
In your initial post, create and present a possible scenario in order to respond to the subject’s discharge from the hospital. See earlier assignments for samples of how to begin crafting the scenario for your subject. Remember to be creative, refer to the “Introduction to the Miller Family” document, and include as much detailed information as appropriate. Be sure to address the following points in your initial post.
Describe the specific issues that need to be addressed when discharging this patient.
Briefly identify who (individuals, professionals, agencies, or organizations) might be identified in the plan, what needs to be done, and when it should happen.
Identify community resources (e.g., doctors, counselors, and agencies) that will be needed, what their roles are in the plan, and assess how they might meet the needs of your patient. Integrate the biological theory of intellect and cognition with your subject’s sociocultural experiences in order to better ascertain his or her needs.
Identify and discuss at least one barrier for success based on the individual’s intellect and his or her sociocultural experiences and perspectives. Critique the contributions of community-based programs and how they might alleviate issues related to this barrier.
dq2
Watch one of the eight videos from
The Future of Medicine
playlist. Then, go to the Ashford University Library and find two research articles related to the social impact or relevance of the topic addressed in your selected video. For assistance with finding peer-reviewed articles, please see the
tutorial
on the Ashford University Library website. Consider the work you have completed in the previous discussions throughout the course. Summarize how we, as individuals, are affected by disease, disability, or disorder. What emotions do we experience toward others with these conditions (empathy, judgment, fear, guilt)? Critique the contributions of community-based programs and how they influence our societal reactions to diseases, disabilities, and disorders. Examine and comment on the ways in which individuals, families, communi.
Privacy in a Technological AgePrivacy protection is a hot top.docxjeffsrosalyn
Privacy in a Technological Age:
Privacy protection is a hot topic in today’s data-hungry technological world
. In a well-written paper,
1.
Begin with an examination of an individual’s right to privacy
.
Then consider
2.
How advanced surveillance and monitoring technologies might intrude upon this right to privacy.
3.
How might the roles and obligations of an organization conflict with its workers right to privacy?
Provide specific examples to support your analysis.
Your well-written paper should be 2-3 pages in length and formatted according to the
CSU-Global Guide to Writing and
APA Requirements
. You should reference 2-3 scholarly sources (your textbook can count as one of these). The CSU-Global Library is a good place to find these scholarly sources
Textbook is attached
Reynolds, G. W. (2014).
Ethics in information technology
(5th ed.). Stamford, CT: Cengage Learning
Note:
I don’t need cover page.
.
Privacy Introduction Does the technology today Pene.docxjeffsrosalyn
Privacy :
Introduction
Does the technology today
Penetrates
our
privacy
?
Harms and the benefits.
What is the natural right for privacy ?
How we can trust the people or the organizations in our privacy ?
Does the governments have the right to go through our privacy? why ?
What the limit for privacy ?
How we can protect our privacy ?
Conclusion
.
Prisoner rights in America are based largely on the provisions of th.docxjeffsrosalyn
Prisoner rights in America are based largely on the provisions of the Bill of Rights. In this assignment, you will research the U.S. Bill of Rights and explain its major provisions. You should address the impact that the Bill of Rights has had on the field of criminal justice, corrections, and prisoners' rights. Also, explain how the Bill of Rights is applied at the state level.
Identify and explain the major provisions of the Bill of Rights.
How has the Bill of Rights significantly impacted the prisoners' rights and the fields of criminal justice and corrections?
Explain how the Bill of Rights is applied at the state level.
What are 2 major avenues of relief pursued by prisoners?
You must reference at least 2 credible sources in APA style.
4 pages
No plagerism
Abstract and Reference Page
.
Principles of Supply and Demanda brief example of supply and deman.docxjeffsrosalyn
Principles of Supply and Demand
a brief example of supply and demand for public health goods and services. Select two factors that might influence price elasticity of demand for public health goods or services in your example. Explain how and why price elasticity might influence the quantity of goods and services demanded in that example.
.
Primary Task Response Within the Discussion Board area, write 300.docxjeffsrosalyn
Primary Task Response:
Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.
For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:
What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.
.
Pretend you are a British government official during the time leadin.docxjeffsrosalyn
Pretend you are a British government official during the time leading up the Revolutionary War.
Write a 2-3 paragraph letter to the editor of your local newspaper explaining your feelins about the actions of the colonists. Be sure to give examples. (Things to possibly include: Do you think they are overreacting? Why or why not? How do you feel the issues should be resolved?) Really put some thought into this assignment, it wouldn't hurt to do some outside research to support your Letter to the Editor
.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Reimagining Your Library Space: How to Increase the Vibes in Your Library No ...Diana Rendina
Librarians are leading the way in creating future-ready citizens – now we need to update our spaces to match. In this session, attendees will get inspiration for transforming their library spaces. You’ll learn how to survey students and patrons, create a focus group, and use design thinking to brainstorm ideas for your space. We’ll discuss budget friendly ways to change your space as well as how to find funding. No matter where you’re at, you’ll find ideas for reimagining your space in this session.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
1. Running Head: Wish You Wood 2
Abstract
Toy stores are the best in this world. Crafted wooden toys
are the unique ones which includes
lot of effort. Wish you wood toy store is the best crafted toy
store near Piney Lake. Jim and Pam
Klein are applying different strategies to develop their business.
Despite their efforts, they are not
seeing profits. Hence, there is a need for them to check whether
their strategies are right or not. To
do this, they first need to understand their business thoroughly.
This can be done by developing a
SWOT Analysis.
SWOT Analysis is a planning technique which helps the
business holders to identify the areas
they are perfect and at the same time to identify the areas they
are weak based on the circumstances.
SWOT is: Strengths, Weaknesses, Operations and Threats. This
Analysis covers all the four areas
2. which helps to improve the functioning of the business.
Wish you wood toy store needs a SWOT Analysis to know about
what they need to grow their
sales.
Keywords: SWOT, planning, toy store, change
Running Head: Wish You Wood 3
The first question for the case study is to prepare a SWOT
Analysis for Wish You Wood Toy
Store. Below is the SWOT Analysis for the Wish you wood toy
store. This SWOT Analysis is
developed by examining every aspect that is needed to help
make a viable recommendation for the
store.
SWOT ANALYSIS
Strengths:
3. 1. The toy store is still financially strong because of the regular
customers they have.
Financial wise they are in the starting level and their regular
customers are their strength
to take their store to next level.
2. Basically, the store is located near piney lake which is a
visiting place for many people.
So, most of their customers will be the visitors who comes to
enjoy their time with the
family. Location of the store near a tourist kind of place is
another strength.
3. Choosing their items that needs to be sold is the reason for
their uniqueness. They are
investing their time to select their store products.
Weakness:
1. Depending more on the profits is the weakness of the store.
This need for profits is making
them choose the option of being a partner is actually not
bringing them much profits and
is decreasing their toy value.
2. Encouraging only the local customers is another point.
Reviews given by local customers
4. will be known only in that town but not to the world out there.
Opportunities:
Running Head: Wish You Wood 4
1. Taking a feedback will help the store to know what the
customer wants. Using this, they
can add the products that the customer wishes for.
2. Letting the people know about the store using the
advertisement platform through
pamphlets, visiting cards etc.
3. Opening small franchises like kiosk stores in other cities in
order to get the fame for their
crafted toys.
Threats:
1. Being a partner with the bestselling online shopping website
is a threat sometimes. Top
most sites will bring down the value of the product if there are
no sales on the particular
product.
2. Concentrating only on the single theme of the toys will not
attract customers. Different
5. models are needed.
SWOT CHART FOR WISH YOU WOOD TOY STORE
Strengths
-Location
-Personal
Selection
Weakness
-Depending more
on profits
-Encouraging local
customers only
Oppurtunities
-Feedbacks
-Advertisements
-Expansion
Threats
-Online shopping
partners
-Single theme
Running Head: Wish You Wood 5
6. RECOMMENDATION
Question two of the case study ask that I recommend a strategy
based on the SWOT analysis for
Wish You Wood Toy Store. Based on the SWOT Analysis that
was developed above, I suggest
them to choose the strategy which completely checks on
Customer needs and experiences.
The concentration of the owners, Jim and Pam Klein, should be
more on collecting the customer
experiences. Knowing about what customer needs is important.
They need to have feedback forms
on their stores or else at least they need to update their system
in a way to send a feedback form
directly to their mobile once they make a purchase. In this way,
all the experiences of the customers
will be collected and will improve the sales if they make
changes according to their wish.
Second point that needs concentration is: Advertising the store.
Pamphlets is the coolest option.
They need to print out the pamphlets with the images of the
products available along with the store
information which might attract people from different cities to
buy the products. Visiting cards
also need to be attached along with the pamphlets.
7. Third point is: instead of having only toy section, lottery
section, painting section etc. it is better
to have small kid furniture section too as it is a wood store.
Every parent will be eager to decorate
their kids room with the unique furniture. This might also bring
customers from different locations.
These points will help them to be successful, according to me.
And when it comes to present
strategy, it must be changed, and they should follow concentrate
on the purchases.
CONCLUSION
SWOT Analysis is a general planning which helps both the
small and large organizations to
achieve their goals and earn huge profits. The chart that is
developed for “wish you wood” store
Running Head: Wish You Wood 6
is based on the information given about the store. Following the
above will help the store to reach
their goals.
8. 1+1 203 970 9332 | [email protected] | www.prosci.com
Prosci’s Change Management Maturity Model, based on
benchmarking research, describes the varying levels of
change management capability across organizations. The
maturity model has five levels, from no change management
to organizational competency. Each level involves more
attention and management of the people side of change.
Below is a detailed explanation of each level as well as the
action steps your organization can take to move to the
next level of the model. The tutorial concludes with research
data on Maturity Model levels from Best Practices in
Change Management – 2016 Edition.
9. LEVEL 1: AD HOC OR ABSENT CHANGE MANAGEMENT
At Level 1 of the organizational change management maturity
model, project teams are not aware of change
management and do not consider it as a formal approach for
managing the people side of change.
Use at the project level
Change management is applied on a project only as a last resort
when employee resistance jeopardizes the success
of the project.
Organizations are facing larger and more frequent changes in
the current economic climate. A
changing marketplace, empowered workforce and technological
advancements have created an
environment where change is now a part of everyday business.
In this environment, organizations are
beginning to recognize the importance of building the
competency to rapidly and successfully change.
FIVE LEVELS OF CHANGE MANAGEMENT
MATURITY
mailto:solutions%40prosci.com?subject=
http://www.prosci.com
https://www.prosci.com/bookstore/best-practices-in-change-
management-2016-edition.html
https://www.prosci.com/bookstore/best-practices-in-change-
management-2016-edition.html
2+1 203 970 9332 | [email protected] | www.prosci.com
10. Level 1 integration between project management and change
management
Change management is reactive and an add-on to the project. No
integration with project management takes place
at the beginning of the project.
Projects at this level can have one or more of the following
characteristics:
• Project leadership is focused only on the technical side of the
project, including funding, schedule, issue tracking
and resource management
• Communications from the project are infrequent and delivered
on a need-to-know basis
• Employees find out about the change first through rumors and
gossip rather than structured presentations
• Executive support is only evident through funding
authorization and resource allocation; there is no active and
visible sponsorship
• Supervisors and managers have little or no information about
the change and have no change management
skills to coach their employees through the change process
• Employees react to change with surprise and can be very
resistant
• Productivity slows and turnover increases as the change nears
full implementation
Steps for moving to Level 2
11. • Attend change management training, purchase change
management resources or engage change management
consultants
• Apply change management to isolated projects and use change
management techniques to help projects that
are currently experiencing resistance to change
LEVEL 2: CHANGE MANAGEMENT ON ISOLATED
PROJECTS
In Level 2, elements of change management begin to emerge in
isolated parts of the organization. The effort to
manage the people side of change is infrequent and is not
centralized.
Characteristics of this level are:
• A large variation of change management practices exists
between projects with many different change
management approaches applied sporadically throughout the
organization; some projects may be effectively
managing change while others are still in Level 1
• There are elements of communication planning, but there is
little sponsorship or coaching
mailto:solutions%40prosci.com?subject=
http://www.prosci.com
https://www.prosci.com/training
3+1 203 970 9332 | [email protected] | www.prosci.com
• Managers and supervisors have no formal change management
training to coach their employees through the
12. change process
• Change management is typically used in response to a
negative event
• Little interaction occurs between the isolated project teams
using change management; each new project “re-
learns” the basic change management skills
Level 2 change management and project management
integration
In Level 2, projects apply change management when resistance
emerges or when the project nears implementation.
Only isolated projects use change management at the beginning
of their project. Some elements of communication
planning occur early in the lifecycle.
At this stage, change management is not fully integrated into
project management. On projects that use change
management, the project team is aware and knowledgeable of
change management. In certain instances, a change
management advocate can encourage the integration of change
management and project management.
Steps for moving to Level 3 maturity
• Create knowledge about the different change management
initiatives used in the organization and begin
research in change management best practices
• Create clusters of project teams applying change management
principles
• Begin collection of knowledge and tools across the
organization and celebrate change management successes
13. • Begin building support for using change management with
executives and senior leaders who oversee multiple
projects
LEVEL 3: CHANGE MANAGEMENT ON MULTIPLE
PROJECTS
At Level 3, groups emerge that begin using a structured change
management process. Change management is still
localized to particular teams or areas in the organization.
Organizations at this level can have one or more of the
following characteristics:
• Multiple projects are using structured change management
processes, although these approaches and
methodologies may be different
• Some elements of knowledge sharing emerge between teams in
the organization; teams in some departments
are sharing experiences and lessons learned
mailto:solutions%40prosci.com?subject=
http://www.prosci.com
4+1 203 970 9332 | [email protected] | www.prosci.com
• While change management is applied more frequently, no
organizational standards or requirements exist;
pockets of excellence in change management co-exist with
projects that use no change management
• Senior leadership takes on a more active role in sponsoring
change and considers this role part of their
14. responsibilities, but no formal company-wide program exists to
train project leaders, managers or coaches on
change management
• Training and tools become available to project leaders and
team members; managers now have the training
and tools to coach frontline employees
Level 3 project management and change management
integration
Change management is initiated at the start of some projects,
with a large fraction still applying change
management as a reaction to employee resistance during
implementation.
Teams who are successful at change management integrate
change management with their overall project
management methodology at the inception of the project,
including communication and other change
management plans.
Steps for moving to Level 4 maturity
• Enlist executive support for applying change management on
every project and for building change
competencies at every level in the organization
• Select a common methodology that can be used throughout the
organization and begin acquiring the tools and
training necessary to roll out the common methodology.
LEVEL 4: ORGANIZATIONAL CHANGE MANAGEMENT
STANDARDS
In Level 4, the organization has selected a common approach
15. and implemented standards for using change
management on every new project or change. Note: a common
methodology does not mean a one-size-fits-all
recipe; effective methodologies use repeatable steps, but they
work best when tailored to the specific needs of
every project.
Organizations at this level can have one or more of the
following characteristics:
• There is an enterprise-wide acknowledgement of what change
management is and why it is important to
project success
• They have selected a common change management
methodology and are developing plans for introducing the
methodology into the organization
mailto:solutions%40prosci.com?subject=
http://www.prosci.com
https://www.prosci.com/change-management/thought-
leadership-library/change-management-methodology-overview
5+1 203 970 9332 | [email protected] | www.prosci.com
• Executives, project teams and change leaders have access to
training and tools, and managers and supervisors
have formal training in change management
• There are individuals, groups or administrative positions
dedicated to supporting change management efforts
and building change management skills
• Executives assume the role of change sponsors on every new
project and are active and visible sponsors of
16. change
• Teams expect resistance and non-compliance in isolated
instances, although some project teams may still not
understand why they are using change management
• Adoption is not yet at 100% and the organization is in the
process of building change management skills
throughout the organization
Level 4 project management and change management
integration
At Level 4, teams regularly use a change management approach
from the beginning of their project, with change
management work included in the planning phase of the project.
As the project progresses, project management and change
management continue to integrate to the point where
they are not separable. Project teams follow both project and
change management milestones.
Steps for moving to Level 5
• Create a formal position or staff group that is responsible for
the effective deployment, training and
improvement of change management competencies
• Correct non-compliance and analyze gaps in the organization
that are not applying the selected methodology
LEVEL 5: ORGANIZATIONAL COMPETENCY
In Level 5 change management maturity, change management
competency is part of the skill set of the
organization.
17. Organizations at this level can have one or more of the
following characteristics:
• Effective management of change is an explicitly stated
strategic goal, and executives have made this a priority
• Employees across the enterprise understand change
management, why it is important to project success and
how they play a role in making change successful
• Change management is second nature, so commonplace that it
is nearly inseparable from initiatives
mailto:solutions%40prosci.com?subject=
http://www.prosci.com
https://www.prosci.com/training/advanced-deployment-leader-
certification
6+1 203 970 9332 | [email protected] | www.prosci.com
• Managers and supervisors routinely use change management
techniques to help support a broad range of
initiatives, from strategy changes to individual employee
improvement
• The organization gathers data to enable continuous
improvements to the common change management
methodology, tools and training
• Extensive training exists at all levels of the organization
• Higher ROI, lower productivity loss and less employee
resistance to change across the organization
18. Level 5 project management and change management
integration
When organizations have developed a high level of change
management competency, change management steps
are completely integrated into project management, and change
management work begins before the project kicks
off. Planning and design phases have both project and change
management elements and are viewed as standard
practice.
CHANGE MANAGEMENT MATURITY MODEL
BENCHMARKING RESEARCH
In Prosci’s Best Practices in Change Management - 2016
Edition, participants identified where they were on the
Change Management Maturity Model. Just under half of
participants (49%) fell at Level 1 (Ad hoc or absent change
management) or Level 2 (change management on isolated
projects). Only 14% were at Level 4 or Level 5, where the
organization had truly begun adopting organizational
standards and building organizational competencies.
NEXT STEPS TO REACH ORGANIZATIONAL CHANGE
MANAGEMENT MATURITY
Moving up the Change Management Maturity Model improves
how an organization operates and performs
during times of change. There is a growing body of knowledge
that shows a direct correlation between how well
an organization manages the people side of change and how
successful projects and initiatives ultimately are. As
an organization sees examples of failed changes due to poorly
managed change and successes due to effectively
managed change, there is a greater sense of urgency related to
moving up the Maturity Model.