Case Strategic operational Performance Indicators Case Study

Essays on Case: Strategic operational Performance Indicators Case Study Finance and Accounting Finance and Accounting Guidelines for the Frantour Case - BSC Please answer to the following questions in your analysis What are some key features and KSF (key success factors) of the hotel industry? Generally, the key success factors in the hotel industry, according to the Frantour’s hotels, range from the various activities in the industry. First, the industry enjoys some benefits of the tour operators and the travel agencies, mostly when it is the time for low season. Another success factor for the hotel industry is that they have the obligation of lodging a particular proportion of the leisure clients at a rate that is preferential, though it penalizes them when it is the time for high season. However, the hotel industry always develops new properties in other countries, which encourages it to nurture its client base, a factor that helps them become more independent, considering their occupancy policy (Agarwal, 2013).. What is the current organization? How many organizational layers are involved? The current organization of the Frantour hotel is made up of three layers. The topmost layer comprises of the hotel manager, who is Mr. Tisserand. He is assisted by two assistant managers. The second layer is composed of the managers who run the reception department, catering department, floors department, administration/audit department, and the maintenance department. All these departments are run by the department heads. Each department has another layer of organization. The reception department has the assistant head of department, four team leaders, four daytime receptionists, four rotating receptionists, and one reservation specialist, all of whom report to the head reception. The catering department also has its sub-departments which make up the third layer. They include the deputy head, the assistant catering manager, the barman, the breakfast manager, three breakfast waiters, two part-time breakfast waiters, two dishwashers, and a catering manager, all of whom report to the department head (Person, 2013). The floors department is headed by the housekeeper assisted by the sub-departments in the lower layer. They include the assistant, two floor housekeepers, the laundress, and three general helpers, one of whom works half of the time in maintenance. All these sub-departments report to the housekeeper. The administration/audit department is run by the department head, assisted by the assistant department head and two secretaries as the sub-departments. The maintenance department is run by the department head assisted by the repairman as his sub-department. Imagine a BSC for the Corporate Hotel management (note that there is no Manager!) a) Suggest at least one objective (verb, with time line and measurable) for each perspective; b) Suggest one or two initiatives (or action plans) (non exhaustive) associated to the objective above for each perspective; c) Suggest a few related indicators: Lagging output indicators (relative to the objective, please provide a benchmark and frequency of reporting) and leading action indicators or effort indicators. Specify which action you are monitoring, + a benchmark/target + frequency of reporting. Initiatives Output Effort or action Perspective Objectives indicators indicators (action plan) (lagging) (leading) Financial 1. Reduce the costs of operation 2. Maximizing profits 1. Keeping a correct inventory 2. Maintaining accurate financial audits 1.Establishing the budget of the hotel 2.Setting the pricing policy 1.No wastage of resources 2.Reduced costs Clients/ customers 1. Ensure comfort of the customers 2. Set reasonable prices to promote more sales 1. Management of the personnel 2. Recording all receivables from the customer 1.Efficient services 2.Clear and accurate records 1.Improved customer relations 2.Consistency of the sales and recurrent customers Internal Processes 1.Facilitate better communication 2.Keeping up with the technology 1. Preparing the account statements prior to sending them to group headquarters 2.Controlling the costs of availing services to the customers 1.Inexperienced employees 2.Lack of the appropriate technology 1.Increasing efficiency 2.Increasing the profitability of the hotel Learning 1.Maintaining the pace of operations in the hotel 2.Ensure safety and security of the customers 1.Keep an eye on the current situation of the hotel 2.Analyze the occupancy forecasts 1.Improve the methods of reporting 2.Update the hotel databases regularly 1.Better public relations 2.Attraction of more customers 2 Imagine a BSC for the Hotel Manager (Mr Tisserand) a) Suggest at least one objective (verb, with time line and measurable) for each perspective; b) Suggest one or two initiatives (or action plans) (non exhaustive) associated to the objective above for each perspective; c) Suggest a few related indicators: Lagging output indicators (relative to the objective, please provide a benchmark and frequency of reporting) and leading action indicators or effort indicators. Specify which action you are monitoring, + a benchmark/target + frequency of reporting. Initiatives Output Effort or action Perspective Objectives indicators indicators (action plan) (lagging) (leading) Financial 1. growth of the current productivity 2. increasing the revenue 1.Developing new channels of revenue 2.Making improvements to the current profitability 1.Service per room 2.Average room rate 1.Decreasing costs 2. Improving the current profitability Clients/ customers 1.Achieve high profitability 2.Focus on the high-value customers 1.Formalize it on the strategy map 2.Align it with objects that add high-value customers and retain them 1.The strategy map 2. The guest rooms of the hotel. 1. Helping the manager to attain the goal of achieving high profitability 2. Reducing the cost of maintenance of the guest rooms. Internal Processes 1. Attaining and keeping the partner relations 2. Improvement of the image of the hotel on booking websites. 1. Ensuring that all that the customers’ needs are availed 2. Booking website score 1. The needs of the partners and customers 2. The hotel website 1. Satisfy all the needs of the customers to attract and retain them 2. Ensure that the customers may book reservations from wherever they are. Learning 1.Understanding the requirements in the hotel industry 2. Learning how to maintain good work relations Seek the understanding of public relations 1. Always refer to the strategy map 2. Hold meetings with the employees and discuss about the issues relating to work. Look for employees who will maintain the public relations of the hotel. 1. The strategy map 2. The employees 1. Keep all actions in the hotel focused on the main objectives 2. Ensure a willing working environment for the employees of the hotel. Imagine the objectives and action variables for the Reception manager a) Suggest some objectives (verb, with time line and measurable) The receptionists usually have their own objectives. They include: 1. Maintaining the occupancy rate of the hotel as well as the profit margins on the room sales 2. Maintain their concentration and their daily follow-up 3. Keep clear records for room reservations and ensure that all customers are satisfied in their rooms (Price, Jorgensen, Knight, 2013). b) Suggest some initiatives (or action variables - AV) (non exhaustive) associated to the different objectives; tick when the AV contributes to the achievement of the objective. Objectives Initiation (action variables Objective #1 Objective #2 Objective #3 AV#1 Booking rooms and following up the procedures of reservation AV#2 Make rooms available and taking care of the guests in the period they stay in AV#3 Greeting guests and providing them with the reliable information AV#4 Ensure that the customers are charged for the products and services they have used during their stay in the hotel AV#5 Running the telephone switchboard and collecting all the relevant data of the of the customers regarding the services sold to them 4 Imagine the objectives and action variables for the Catering manager a) Suggest some objectives (verb, with time line and measurable) The catering manager has the following objectives: Taking the responsibility of the particular proportion of the total sales of the hotel Ensuring that there are enough service personnel and kitchen staff Helping to eliminate problems of overstaffing To oversee the supervision of the seasonal employees (Lessambo, 2013). b) Suggest some initiatives (or action variables - AV) (non exhaustive) associated to the different objectives; tick when the AV contributes to the achievement of the objective. Objectives Initiation (action variables Objective #1 Objective #2 Objective #3 AV#1 Supervise the evening meals for the groups lodged on the half-board basis AV#2 Serves the breakfast AV#3 He is in charge of the seminars and banquets and the bar AV#4 He is responsible for taking care of the drinks vending machine in the hotel’s lobby References: Agarwal, Y. (2013). Capital Structure Decisions: Evaluating Risk and Uncertainty. New York: Wiley. Lessambo, F. I. (2013). The international corporate governance system: Audit roles and board oversight. Basingstoke, Hampshire : Palgrave Macmillan, 2014. Person, R. (2013). Balanced scorecards operational dashboards with Microsoft Excel. Indianapolis, IN: Wiley. Price, C., Jorgensen, A., Knight, D. (2013). Building Performance Dashboards and Balanced Scorecards with SQL Server Reporting Services. Hoboken: Wiley.

Savvy by Ingrid Law Free Essays

Savvy by Ingrid Law. Cover Illustration by Terese Dikun. Dial Books, 2008. We will write a custom essay sample on Savvy by Ingrid Law or any similar topic only for you Order Now Ages 12 and up. Savvy is a story about an unusual family, the Beaumonts, whose family members awaken powers – coined savvy – at the age of 13. The Baumont’s sons, for example, can cause hurricanes and sparks with their savvies. The novel begins with Mibs, the youngest of the Beaumont clan, as she nears the eve of her 13th birthday and is excited to discover what her savvy would be. However, tragedy strikes a mere two days before her 13th birthday as Poppa, the Beaumont patriarch, figures in a terrible accident 90 miles away from home. What ensues is an extraordinary adventure fueled by Mibs’ unwavering belief that her savvy would be able to save Poppa. Riding a pink rickety bus and accompanied by her two brothers and the preacher’s kids, Mibs embarks on a journey to awaken her savvy and prove she can save the day. Ultimately, Savvy is a story about growing up and coming to know and accept oneself and others. It teaches about learning and seeing beyond appearances and appreciating what is skin deep. Savvy is a wondrous tale of hope, love, and redemption. The novel bridges the idea that each and every individual is very special, with unique gifts that make that person unique. Ingrid Law craftily manages to incorporate all of these into a concise yet elegantly written novel while still making the story and the characterization a priority, resulting in a book that leaves the reader filled with all sorts of wonderful emotions even after turning over that last page. How to cite Savvy by Ingrid Law, Papers

Accounting Theory and Accountability for Rights - myassignmenthelp

Question: Discuss about theAccounting Theory and Accountability for Rights. Answer: Introduction Corporate governance can be considered as a procedure that intends to allocate various corporate resources in a way that can maximize shareholders value. The current study intends to critically analyse the influence of different mechanisms of corporate governance and the issues related to corporate governance on corporate performance. In a way, this study aims to analyse various issues associated to corporate governance that involves analysing diverse roles of the board as well as management, composition of board and mix of different executives, disclosures, rights and treatment of shareholders and transparency of disclosures. Identification of an area of research Corporate governance issues in Australia and its impact on corporate performance are the area of research selected for the current study. This specific area of corporate governance can be considered to very important as this can help in describing the overall state of corporate governance system in Australia and their likely impact on value of firm as well as stock market behaviour. In essence the state of particularly corporate governance in Australia has acquired much media attention as well as policy attention since the social along with the financial insinuations of corporate collapses came to light (Ammann et al. 2013). Some of the most important in the regional financial press of Australia have been the enquiry of governance irregularities that involves unlawful behaviour of the management in firms such as HIH and One Tel that eventually led to their liquidification. Thus, this study can be considered to be of importance and interest as this can help in understanding the entire procedure that aims to allocate different corporate resource, set of procedures, policies, regulations and institutions exerting influence on the way a corporation runs and performs (Lins et al. 2017). Research Question The research question that can be framed based on the objective of the study is as presented below:- What is the impact of system of corporate governance on corporate performance? Reference to academic journals Analysis of the journal: Effect of corporate governance on firm performance by Ming-Cheng Wu, Hsin-Chiang Lin and I-Cheng Lin As correctly put forward by Christensen et al. (2015), world bank during the year 1999 mentions that corporate governance mainly comprises of two different mechanisms that includes internal as well as external corporate governance. In essence, internal corporate governance delivers priority to the interests of the shareholders and functions on the board to supervise top management of the firms. Conversely, external corporate governance monitors and simultaneously controls behaviours of managers by means of external regulations. As regards structure of the board, Christensen et al. (2015) asserts that the board acts as a bridge between owners as well as managers and protects the interests of the shareholders. Taking liability for handling and monitoring, the board need to monitor behaviours of managers for the sake of the interest of the shareholders, frame vital decisions, and employ dedicated team of management as well as superintended corporations to obey the regulations. Grossi et al. (2015) stress light on a corporate governance issue that centres around size of the board of a firm. () find that directors operating in a large board have different viewpoints and therefore it becomes very difficult to reach a consensus. Eventually, this leads to lower level of efficiency in board operations and lead to deterioration of situations. Chen et al. (2016) unveils that size of the board is negatively associated to the performance of firms. However, Chen et al. (2016) asserts a different opinion that emphasizes the fact those large sized boards refers to members with different backgrounds as well as viewpoints that in turn can prove to be helpful for the overall quality of decisions. Moreover, a wide range of interests might help in neutralizing various decisions of the board. Tricker and Tricker (2015) investigates the nature of association between composition of board and diverse financial scams, disclosing that the specific ratio of independent directors in the co rporations having no scandals is said to be higher than the corporations found manipulating financial assertions. Yermack (2011) states that function of a board might get weakened and eventually exert adverse effects on the performance of the firm at the time when chairman of a company assumes the role of a chief executive officer and functions both as a decision maker and simultaneously as a supervisor. Empirical evidences substantiates the fact that duality of the CEO can adversely affect the overall corporate performance of firms. Nonetheless, in line with the stewardship theory, accountabilities of firms executives might neutralize different self-interest behaviours that are necessarily derived from the duality of CEO and exert positive influence on the performance of firms. Analysis of the journal: Corporate Governance- Concepts and Issues by Sreeti Raut Thorough analysis of the academic literature reveals the fact that there are several compliance issues associated to corporate governance that eventually affects the overall efficiency of operations and corporate performance. Governance, risk management and compliance or else simply referred to as GRC mainly encompasses certain activities that includes corporate governance of firms, enterprise risk management as well as corporate compliance with specific regulations. These activities are primarily carried out to avert conflicts, inefficient conflicts as well as gaps (Christie et al. 2013). Analysis of the literature reveals that the main issues involved in the corporate governance of firms include asymmetry in power and information, diverse interests of shareholders as residual holders, role of specific management, and particular theories of parting of theories, division of corporate pie among the involved shareholders. Analysis of the journal: Australia Inside-Out: The Corporate Governance System Of The Australian Listed Market penned by Alan Dignam and Michael Galanis Evaluation of the present article helps in understanding financial system as well as governance results, patterns of ownership in different publicly listed firms of Australia, control of various block holders and information flow. As per theory, no accountability issues is said to arise either within the system of corporate governance. In case when there exists an insider system, the divergence between diverse interests of the shareholders as well as managers of the corporations can help in the process of resolving any kind of agency problem of the firm (Banker et al. 2013). However, in case of an outsider system, accountability issues do not occur in case if the share markets are efficient enough and prices of shares reflect with the comparative accuracy the overall value of diverse corporate functions. Supposing market efficiency, restraints from the market for the purpose of corporate control or else for discipline delivered by the requirement to return to the capital market for f inancing can prove to be adequate to hold back management decisions (Matolcsy et al. 2012). Analysis of the journal: Higher market valuation companies with a small board of directors, Journal of Financial Economics by Yermack Critical analysis of the current article reveals the evidences that are consistent with diverse theories substantiating the fact that small sized boards are more effectual. Matolcsy and Wright (2011) asserts that value of a firm essentially relies on the overall quality of monitoring as well as process of decision making of board of directors. Thus, by using a straight forward model of the association between value of firm and size of the board and regression of a set of different explanatory variables as measured against an approximation of Tobins Q, the study reveals the nature of relationship between size of board and firm value. Analysis of the journal: Do Board Characteristics influence the Shareholders Assessment of Risk for Small and Large Firms? penned by Christie, Wyatt, Matolcsy and Wright helps in understanding various systemic issues of corporate governance. These issues can eventually affect the overall performance of the firm in the upcoming period. Essentially, in a bid to influence different directors, firms shareholders need to unite with other members to develop a voting group that in turn can pose a threat of carrying declarations or else appointing directors at general meeting. There remains barrier to shareholders utilizing proper information can be considered as the cost of processing the same, particularly to a small shareholder. There also exists problems in supply of diverse accounting information, essentially imperfections in the manner of financial reporting procedure might cause imperfections in the efficiency of corporate governance. Matolcsy et al. (2012) pinpoints that financial re porting scam, counting non-disclosures as well as deliberate falsification of specific values also contribute to information risk of different users. In order to lessen the risks and to augment the perceived integrity of diverse financial reports, firms can carry out audit pecuniary reports by independent external assessors. Thorough investigation on the association between performance of corporations and compensation of executive does not detect consistent as well as important relations between remuneration of executives and corporate performance. Analysis of the journal The Relation between CEO Compensation and Post Performance by Banker, Darrough, Huang and Dujowich reflects the fact that performance incentives of CEO arise from possession of shares of firms, whilst other associates discovered that the association between share ownership and corporate performance was reliant on ownership level. However, the outcomes recommend that enhancement in ownership over and above 20% direct management to be rooted, and less concerned about shareholders welfare. () argue that corporate performance is positively related to different share option tactics and that these tactics direct energies of the managers and extend decision horizons toward long-term performance instead of short-term performance of the corporation (Banker et al. 2013). Analysis of the journal: CEO compensation structure and firm performance, Accounting and Finance, penned by Matolcswy and Wright shows important financial insinuations of the CEO compensation on corporate performance. The observations of the study reflects the fact that corporations whose CEOs accept compensation that essentially is inconsistent with characteristics of corporations reflect a low performance as compared to corporations in which compensations of CEOs are consistent with the characteristics of the firm (Matolcsy and Wright 2011). Analysis of the journal: The Timing of Changes in CEO Compensation from Cash Bonus to Equity-based Compensation: Determinants and Performance Consequences." Journal of Contemporary Accounting Economics by Matolcsy, Shan and Seethamraju helps in understanding the fact that a specific combination of different accounting alterations as well as issues of governance directed options to eventually become less popular means of compensation. In addition to this, Matolcsy et al. (2012) asserted that there exist different alternative applications of buybacks surfaced to defy the dominance of particularly cash buybacks in the open market as the favoured way of applying a share repurchase plan. Discussion of the findings Based on the observations and findings of the prior academic literature it can be hereby mentioned that good governance can help in encouraging and guiding firms to adopt diverse superior practices. These practices help in laying solid foundations for management, addition of value through effective board structure, safeguarding integrity in corporate reporting. In addition to this, results of the study also reflect implementation of timely and balanced disclosures, respecting authority of diverse security holders and remunerating fairly. Certain issues of corporate governance such as asymmetry in power as well as information, different interests of shareholders as residual holders, function of specific management, and particular theories of parting affects the overall efficiency of operations and corporate performance. Conclusion In conclusion, it can be said that board structure as well as board size is notably and negatively associated to performance of firm, reflecting that, in a large board, diversity of opinion of different insiders has a negative influence on arriving at decisions, that is again detrimental to performance of firm. Again, CEO duality is unhelpfully and negatively associated to corporate performance. In addition, the current study also helps in gaining comprehensive understanding regarding the fact that insider ownership has a positive as well as important relation with corporate performance. References Ammann, M., Oesch, D. and Schmid, M.M., 2013. Product market competition, corporate governance, and firm value: Evidence from the EU area.European Financial Management,19(3), pp.452-469. Banker, R.D, M.N Darrough, R.Huang and J.M Plehn-Dujowich, 2013, The Relation between CEO Compensation and Post Performance, The Accounting Review, 88-1, pp. 1-3 Chen, V., Ramsay, I. and Welsh, M.A., 2016. Corporate law reform in Australia: An analysis of the influence of ownership structures and corporate failure. Christensen, J., Kent, P., Routledge, J. and Stewart, J., 2015. Do corporate governance recommendations improve the performance and accountability of small listed companies?.Accounting Finance,55(1), pp.133-164. Christie, J.A, Matolcsy, Z.P, Wright, A and Wyatt, A, 2013 Do Board Characteristics influence the Shareholders Assessment of Risk for Small and Large Firms? Abacus Vol. 42, No.2, pp. 161-196. Grossi, G., Papenfu, U. and Tremblay, M.S., 2015. Corporate governance and accountability of state-owned enterprises: relevance for science and society and interdisciplinary research perspectives.International Journal of Public Sector Management,28(4/5), pp.274-285. Lins, K.V., Servaes, H. and Tamayo, A., 2017. Social capital, trust, and firm performance: The value of corporate social responsibility during the financial crisis.The Journal of Finance. Matolcsy, Z, Shan, Y, and Seethamraju V, V., 2012, "The Timing of Changes in CEO Compensation from Cash Bonus to Equity-based Compensation: Determinants and Performance Consequences." Journal of Contemporary Accounting Economics, Vol.8, pp.78-91. Matolcsy, Z.P and Wright, A, 2011, CEO compensation structure and firm performance, Accounting and Finance, Vol.51, pp.745-763. Schultz, E., Tian, G.Y. and Twite, G., 2013. Corporate governance and the CEO payperformance link: Australian evidence.International Review of Finance,13(4), pp.447-472. Tricker, R.B. and Tricker, R.I., 2015.Corporate governance: Principles, policies, and practices. Oxford University Press, USA. Yermack, D, 2011, Higher market valuation companies with a small board of directors, Journal of Financial Economics, Vol. 40, pp 185-211.

Strip That Down by Liam Payne free essay sample

This is Liam Paynes breakout single. In case you dont remember, Liam Payne is from the very famous boy band One Direction. Prior to the release of the song, Liam posted teasers of it on Instagram, he was the last member of the band to release his solo work. Payne did not write the song by himself, rather, Ed Sheeran wrote it. While Sheeran wrote it he figured Paynes falsetto voice would go best with it so he called Payne up to sing it. All in all, it took a day to produce. This song is not sung by Payne himself, he sings it with the highest ranking rapper of now, Quavo. In my personal opinion, Paynes voice sounds wonderful on this track. I mean, seriously, if you were to log onto youtube and listen to some of his live vocals, you would see what I mean. We will write a custom essay sample on Strip That Down by Liam Payne or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page His voice always sounds very clear, and he is one of the few singers out there that can actually sing. The song lyrics itself are pretty self-explanatory. You know, I love it, when the musics loud But cmon, strip that down for me, baby Now theres a lot of people in the crowd But only you can dance with me So put your hands on my body And swing that round for me, baby (swing) You know, I love it when the musics loud But cmon, strip that down for me (yeah, yeah, yeah, yeah) The song is currently certified Double Platinum, so in other words, if you havent heard this bop yet, add it to your to-do list.