HCC 1. Evaluate the decision to use “minimum performance standard” (MPS) targets instead of “stretch” targets HCC has changed from ‘stretch’ performance targets to ‘minimum performance standards’. This was because the stretch targets didn’t work very well. The ‘stretch’ targets are doing a good job in companies that have a great understanding of their markets and that can influence the market. HCC however is too small to do marketing and market research‚ so it hasn’t enough information about their
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budgeting processes. First of all‚ planning and budgeting processes have to enhance management control. Derived from the case‚ we think corporate managers have too much control on the targets. General managers give corporate managers an estimate of the targets they can achieve but in all the divisions‚ targets were adjusted. The CEO always has the last call on the targets and in the case of Sealtron we see that this isn’t good. No one believes Sealtron can achieve a PBT of 1milion $ and still the CEO wants
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Context HCC Industries is a small publicly owned company headquartered in California that has four divisions across the United States. Three divisions manufacture and sell hermetically sealed electronic connection devices of various types‚ while one‚ Hermetite‚ produces microelectronic packages. HCC’s divisions are very self-‐contained and independent. A
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corporation work properly to achieve the objectives and give them incentives by bonus related to performance. From this point of view‚ the budget system should be reasonable‚ achievable‚ and also have some challenge to ensure the hard working. HCC Industries was using “stretch” performance targets until 1987. The main idea of using “stretch” targets was to motivate managers to perform at the highest level possible by setting aggressive targets with probability of achievement between 75 % and 80 %
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------------------------------------------------- HCC Industries GROUP 8 Problem * Performance target achievability always stretch. * Target setting only use historical data and incomplete information. Hence‚ many of the targets were unrealistic or difficult to achieve. * Budget creation process not efficient and realistic and ignore long-term development. * Target and incentive systems lead division directors concentrated on their own goal achievement‚ and this may lead
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above: Jack Goldfarb‚ who is the Chairman of the firm. 2‚ 3 & 4. What are the primary differences between HCC’s new and old budget processes? What were the problems with the old system? How did the new system address these problems? (PROCESS?) HCC old budget system was based on stretch performance and aggressive targets‚ in order to stimulate division managers work at the hardest possible level. This resulted in a continuously misachievement of goals making harder to earn the portion of bonuses
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HCC Scholarship Essay I have always wanted to become a financial banker and graduate from the University of Houston. After receiving my Associate’s degree in banking from Houston Community College‚ I will decide which University of Houston campus I will attend. Some of my goals in life are to be a good financial banker and to find a good job at the bank. Many people told me not to go into banking because of the economy‚ but I wanted to go into this profession really like to be a good banker because
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Ch 40 ‚ PC 3 : .Issue : Did LLC failed to pay the market value of OLSON`s interest? .Rule: A member`s ownership interest in an LLC is not freely transferable.A transferee of a member distributional interest receives only the member`s share of LLC distributions. .Application: according to the written agreement LLC payed the capital account and 2005 compensation to Olson.Olson may argue that due to the oral agreement LLC breached it`s duty to pay fair market value of a member.on the other hand
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PMBA Response to “The Case of the Unidentified Industries – 2006” INTRODUCTION: “The Case of the Unidentified Industries” challenges the reader to match 14 firms operating in 14 different industries with 14 sets of financial data from the year ending in 2005. This section aims to enlighten the reader about the methodology used to derive the responses shown in the subsequent section. First‚ the industries are placed in one of the following groups: service industry‚ manufacturing‚ and retail
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Golf Industry 2009 Case Analysis Michael George Central Michigan University MGT 495 Section #2216221 Table of Content 1.Introduction page 1 2.Five Forces of Competition pages 1-4 3.Driving Forces page 4 4.Strategic Map page 5 5.Conclusion page 5 6.Biography page 6 1 Introduction In this case study we look at the golf equipment industry in 2009 and its driving forces that affect the competition amongst its leaders. The companies examined in the study are Callaway Golf‚
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