In the Goodner Brother’s case‚ the company has a “sloppy accounting practices and lax control over its inventory and other assets.” The key internal control weaknesses that were evident in the Huntington unit’s operation are control environment weaknesses‚ control activities weaknesses and monitoring weaknesses. 1. Control environment– Management’s attitudes‚ awareness and actions concerning controls Management’s philosophy and operating style plays an important role in the Goodner case. Goodner’s
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Goodner Brothers‚ Inc. Internal Control Issues 1.List what you believe should have been the three to five key internal control objectives for Goodner’s Huntington sales office. 1. Assets Safeguard The padlock and other some security are used as a physical protection of Goodner’s inventory from stolen by unauthorized person. 2. Authorization of Transaction Goodner’s policy said that the new customer required an approval of the sale manager for the credit sale. The objective of this
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Cassie Doubet Case Analysis #3 Steve Job’s Personality & Attitudes Drove His Success All companies are distinguished by their success in many different ways. CEO’s all have different traits that will classify and measure the behavior of those that work within their company. Some will promote high success levels‚ some will not succeed. It’s important to understand the employee’s behaviors‚ just as it is important for employees to understand the
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Case: Goodner and Howard Street Jewelers Cases Student Name: Shucong Li Date: 09.16.2014 I. Three conditions of Fraud Triangle: 1. Incentive or pressure to perpetrate fraud： a) Excessive pressure for management to meet third party expectations b) Financial stability or profitability is threatened c) Management’s personal financial situation is threatened 2. Opportunity to carry out the fraud a) Nature of the Industry or entity’s operations b) Complex or unstable organizational structure c) Ineffective
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Goodner Brohers‚ Inc. 1. List what you believe should have been the three to five key internal control objectives of Goodner Brohers’ Huntington sales office. A. Goodner’s executives should focus more attention on internal control measures rather than volume in order to have operating activities with efficiency. Although sales volume is related to profits‚ the company could not scrimp on operating expenses. Goodner should make sure there is a good and healthy environment when achieving high
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Jason Haro 10/10/2012 Management of Organizations Case Analysis: Motivation In order to have an effective performance from a group a people‚ effective leadership must be used along with good teamwork to have an efficient running company. After analyzing the case of Joe Chaney‚ it is clear that there has been a fault in leadership along with lack of motivation. In order to fix the situation with Mr. Chaney‚ a meeting should be established with him to discuss his performance. The first
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vision and critical tasks. “Power is essential to the implementation of change strategies.” Change requires a strong guiding hand or‚ again in Kotter’s words‚ a powerful guiding coalition. Eisner can certainly provide that strong hand‚ but in Disney’s case‚ the devolution of power will also play an important role. The centralized approach to decision making employed by Eisner focuses power at the top‚ but a changed structure and culture that is more responsive and quicker will require that power to be
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Case Analysis: Cisco Name: _ _______________________________ 1) Describe who Cisco is and what are its main strategies. Cisco is a company‚ founded in 1984‚ that deals in computer networking. This includes the manufacturing and selling of networking equipment such as routers and technology for VOIP. Their main strategies when they began included assembling a broad product line so they can be a one-stop shop for business networks. This strategy includes acquiring many companies‚ as
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Time as an Industry “Takes a licking and keeps on ticking.” For years this is the image that has been associated with Timex watches – dependable‚ reliable‚ almost indestructible. Timex’s (www.timex.com) advertising was closely associated with the Timex image. The advertising campaign featured different attempts to destroy Timex watches that failed to stop the Timex from ticking. One memorable ad showed a Timex watch strapped to the propeller of a motor boat before being driven across the lake
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Otis Elevator Case 9/7/12 Otis’s management made vast improvements in their corporate vision to obtain a strategic advantage over their competitors through the introduction of OTISLINE and their e*Logistics programs. Otis’s George Davis urged the company to create a centralized customer service system which would allow them to introduce the concept of 24 hours 7 days a week to their customers. OTISLINE was mainly set up in order to increase customer satisfaction as a result of only having a
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