Management Accounting Bakery Business - Myassignmenthelp.com

Question: Describe about the Management Accounting for Bakery Business. Answer: Introduction For the purpose of this article of management accounting, we will consider a company with its own area of operation confined to bakery industry. This company has started its operation since the early 80s and had crossed a long time through its journey which had seen lots of ups and downs. The company had started its operation with the effort of two apprentices who were good old friends from their childhood and they were with the background of good completion of their studies in bakery industry. They have started their operation in Melbourne in the early 80s after they have completed their internships and they had opened up their counter with the intention to expand with long term planning. This company is our sample for the analysis towards management accounting with different aspects to be discussed with their past, present and future plan. The area of discussion will cover ethical statement covering mission, vision, objective and values; the development path of the organization; th e barriers it had faced during its journey; strategies- past and present; PESTEL analysis; SWOT analysis; culture of the organization; the leadership approach as per the theories in context with relevant academic journals to conclude the viability of the organization with the implication of the sustainability of the company. Ethical Statement Ethical statement is the projected themes of the company. Being a bakery company, the organization had fixed its ethical statement right from the beginning which is being transformed from time to time with the basics of the same kept unchanged. Vision The vision of the company is to grow with the standards and quality to be at superior level to provide best possible bakery products to the customers. Mission The mission of the company is to serve the community with best quality eateries to have loyal customer base with no compromise on quality. Objective Objective of the company is tow fold- present and future. While the present objective of the company is:- To serve the community To provide best quality food stuffs To use best quality ingredients To make customers feel happy with the ambience of the counters To compete with the rivals with the power of quality and service level. The future objective of the company is:- To expand through out the region of Australia To reach the magic figure of 450 counters by next five years from 200 at present To strengthen the infrastructure of the franchisees Values The company is run by the following values:- Ethical business Government law compliances Honouring the food safety act of Australia Ensuring customer satisfaction Increasing the range of products as per the taste of the companies Prioritizing the interest of the stakeholders. Development path Right from inception the company had kept its goal high with the existence all over Australia. The company had started a small counter in Melbourne in the year 1981 with the varieties of four items along with hot and cold beverages. Standing at 2016, the company is well placed in the bakery industry of Australia with around 200 franchisee counters and with the customer base of around 1 million with their loyalty proved often by turning them to repeat customers. The company has changed its ambience of the shops and counters so that the customers can feel homely and pass some quality time in their shops. With the proper guidance and the clear vision of the management, the company has followed the path of development with their clear objectives set and the strategies fixed for future development through expansion with quality product and service offered to the target audience. Development path of any organization is depending upon the objectives set by the organization for short and lon g term tenure with specific goal fixed tenure-wise to reach, and the destination thus fixed is achieved while the proper execution of strategy is fixed by the management to make the development path clearly visible and surely achieved(Cooney, 2012). Strategies The organization is set with the fixed objectives so far its short and long term is concerned. It is found that when the organization is making its footfall in the market, initial objectives is set to make the foothold in the market. The long term objectives are set when the foothold in the market is strong. Subsequent strategies are fixed to accomplish the objectives with the constraints and barriers to be overcome by the organization. We will discuss the strategies taken by the organization in the past and the present to accomplish their objectives with the success or failure of those strategies(FURGISON, 2016). Old strategies During inception, the company had adopted the strategies of marketing to make their footfall felt in the market by the consumers with the speciality and uniqueness of approach to make the organization able to viable their business. There are different strategies which were adopted out of which a few had failed and some were successful for the company to prove its sustainability in the market. Initially the company had made a base kitchen where from they were catering their product to three different outlets which were of take-away and sit and eat concept. This strategy had initially proved to be successful, but when the company had expanded their units with more numbers in Melbourne city, the factor of distance had proved the strategy failed(academia21, 2010). The other initial strategy to make advertisement in the electronic media had made enormous pressure on the working capital of the company. Although the strategy had been taken to make the customers aware of the company with its products and services, it was mostly observed that the advertisement in the print media would have been more successful with lesser cost and higher reach to the customers. After realising the negative points of those strategies, the company had made amendments of those strategies by way of introducing the decentralised strategies of kitchen. The company had also insisted in the advertisements in the print media to rectify the strategies after getting reverse reactions from the stakeholders in the form of suppliers, customers and the owners of the company(Carter, 2013). Current strategies Since Y2K, the company had taken the strategy of appointing the franchisee while the business volume is getting increased and the centralised management with control is not possible by the owners of the company. The strategy of appointing franchisees made good impact on the business of the company when the franchisees took the responsibility of running the show of the business in distant cities like Canberra, Sydney and New South Wales. The concept of franchisees proved to be more successful with the decentralised procurement system and the local advertisement with only the recipe of the products and the trade secret of the business passed on to the franchisees by way of lay out of the counters along with the unique type of interior decoration symmetrical to the standard norms of the counters of the company(whichfranchise, 2010). The other strategy of catering the products in the institutional clients made the company looked more comfortable with more revenue generation followed by subsequent increase in profits. The institutional sales had been started since 2005 and the main clients are being segregated as hotels, schools, colleges and other business houses that need the product for their daily consumption with customised pattern of products and services. With the extension of this strategy, the company had started some cafeterias in some schools and colleges along with universities for the promotion of their products to the young generation who will prove themselves as the future customer with loyalty(Nunzio, 2014). Environmental Analysis Environmental analysis of any organization is done to assess the viability of business of that company along with the assessment of factors for long term sustainability of the company. There are different instruments sued for this purpose like PESTEL analysis, SWOT analysis and internal and external factor analysis. In the following section, we will discuss them in accordance with the company(Bhuva, 2014). PESTEL analysis Political factor- The Company runs its business in the country of Australia. It has its different units in different cities of different provinces. As the political situation of Australia is peaceful and supports business of any kind provided the compliance of regulations are made, there is no such problem for the company to run the business so far political context is concerned(RASTOGI TRIVEDI, 2016). Economical factor- the company has no such economical problem in Australia, as the banking sectors is ready to extend assistance to any aspirant business house to run the business who can prove their viability with economical strength(Madam, 2014). Social factor- As the company is engaged in bakery, the society can not face any harm from it till it maintains its total quality management. As the company is complying the health related norms and rules to ensure the TQM of the company, there will be no social problem related with this business(pestleanalysis, 2015). Technological factor- The area of technology is improving daily in every field and the bakery business is no exception to avail the facilities of the latest technology. The company is taking the advantage of this facility and upgrade continuously the quality of their product with the aid of latest technology(pestleanalysis, 2015). Ecological factor- The issues of ecology is causing a big concern so far business is concerned. In case of this company, ecology demands proper exhaustion of bio waste and lesser emission of green gas which is big concern for the global ecological balance. The company has taken proper actions through its franchisees to ensure the same. Legal factor- the legal factor is not as important as the company compile the legal requirement through proper acquiring of different licenses for running the trade with utmost sincerity and professionalism(academia21, 2010). Specific environment analysis Customers- For customers, the company keeps the high level of hygiene and health though its products. Partners- The partners of this business are the stakeholders of the company whose interests are well protected through proper accounting and subsequent deliverance of dividends. Industry The industry is booming as the per capita consumption of the products are raising regularly and the company is well prepared for this situation by opening new franchisees across the country. Unions- The unions of employees are maintain good relations with company as a reciprocal measure to prove their sustainability. Competitors- The competitors are both domestic and MNCs whose existence is observed with analytical mind by the management and ensuring the proper action to combat the same(Adrienne, 2008). Suppliers- The suppliers are the component of most important supply chain of the company and they are well engaged with the agreement so far procurement of the company is concerned. Internal environments are being maintained through the actions initiated by the company to ensure proper process management, with the appropriate system, with employees and management are made for each other for smooth operation of the organization. SWOT analysis SWOT stands for strength, Weakness, Opportunity and threats; its help to prioritize the business goal(Ommani, 2011). Strength Brand value Quality of products Loyal customer base Steady increase of business Weakness Big network-sometimes unmanageable Big human resource Inappropriate delegation of authority Opportunities Scope of new overseas market Serving the population with higher numbers Effective supply chain management through proper supplier base Threat Multinational and domestic competitors Stringent policies in food industry-if proposed by government Leadership The company had seen so many leaders in its life through several CEOs who were engaged in exercising their leadership which supports the understanding of the subordinates and give value to their belief. The company had started from a scratch and now has around 300+ outlets which was possible for the efforts the CEOs render through setting the examples for true leadership(Wiza Hlanganipai, 2014). Conclusion To conclude the business of bakery in Australia has enough potential and this company is heading towards proper direction which will ensure their growth with ensuring TQM. The company is run by professionals at every level of operation who can show their leadership of trait and behavioural theories to honour all employees with proper patient hearing to their views. The value addition process is continuous and the company is always looking for further betterment with their constant strive for customer satisfaction and maintaining the loyal customers by meeting their expectations to the fullest so far the food quality , appearance and the ambience of the counters are concerned. The company will look for a better future by expanding overseas with the franchisee model and the same mission will be successful in the year 2020 when they have planned to start their operation in New Zealand and Indonesia with further plan of expanding to China and Japan. It is mostly observed that the company is running business with professionalism and that is the key to their success in the provinces of Australia with a handful number of loyal targeted customers. References: academia21, 2010. Bread Bakery 10 Tips on How To Start A Bakery Business. [Online] Available at: https://www.academia21.com/blog/2010/01/27/bread-bakery-10-tips-start-bakery-business-5/ [Accessed 07 September 2016]. Adrienne, 2008. How To. Undertake a Competitor Analysis. [Online] Available at: https://www.brainmates.com.au/brainrants/how-to-undertake-a-competitor-analysis [Accessed 07 September 2016]. Bhuva, V., 2014. Study of Technological, Social and Global Environment for Australia. [Online] Available at: https://www.slideshare.net/sunnygandhi777/environmental-analysis-of-australia-viz-social-technological-and-global-environment [Accessed 07 September 2016]. Carter, B., 2013. Bakery boom as best in the business expand. [Online] Available at: https://www.hospitalitymagazine.com.au/food/news/the-best-in-bakery [Accessed 07 September 2016]. Cooney, T.M., 2012. Entrepreneurship Skills for Growth-Orientated Businesses; https://www.oecd.org/cfe/leed/Cooney_entrepreneurship_skills_HGF.pdf. Copenhagen: OECD Dublin Institute of Technology. FURGISON, L., 2016. The Bakers Guide to Opening a Successful Bakery. [Online] Available at: https://articles.bplans.com/the-bakers-guide-to-opening-a-successful-bakery/ [Accessed 07 September 2016]. Madam, K., 2014. Doing Business In Australia. [Online] Available at: https://www.slideshare.net/tushars650/pestle-analysis-doing-business-in-australia-39831072 [Accessed 07 September 2016]. Nunzio, J.D., 2014. Consumption Patterns and Food Demand in Australia to 2050. [Online] Available at: https://www.futuredirections.org.au/publication/consumption-patterns-and-food-demand-in-australia-to-2050/ [Accessed 07 September 2016]. Ommani, A.R., 2011. (SWOT) analysis for farming system businesses management; https://www.academicjournals.org/journal/AJBM/article-full-text-pdf/21F95E420498. African Journal of Business Management, 05(22), pp.9448-54. pestleanalysis, 2015. PESTLE Analysis of Starbucks. [Online] Available at: https://pestleanalysis.com/pestle-analysis-of-starbucks/ [Accessed 07 September 2016]. pestleanalysis, 2015. Social Factors Affecting Business. [Online] Available at: https://pestleanalysis.com/social-factors-affecting-business/ [Accessed 07 September 2016]. RASTOGI, N. TRIVEDI, M.K., 2016. PESTLE TECHNIQUE A TOOL TO IDENTIFY EXTERNAL RISKS IN CONSTRUCTION PROJECTS; https://www.irjet.net/archives/V3/i1/IRJET-V3I165.pdf. International Research Journal of Engineering and Technology (IRJET) , 03(01), pp.384-88. whichfranchise, 2010. Bakers Delight franchise launches new brand strategy to support growth. [Online] Available at: https://www.whichfranchise.net.au/index.cfm?event=getNewsArticlearticleId=294 [Accessed 07 September 2016]. Wiza, M. Hlanganipai, N., 2014. The Impact of Leadership Styles on Employee Organisational Commitment in Higher Learning Institutions; https://www.mcser.org/journal/index.php/mjss/article/viewFile/2201/2187. Mediterranean Journal of Social Sciences, 05(04), pp.135-43.

Unjust Bomb Essay Example For Students

Unjust Bomb Essay Death is a reality. Men should be conscious of thatreality. I say men, because the willingness to die fora cause is most likely inherent to our sex. We (theman) were hunters running after wily beasts, andnature most likely gave us the cruel gift to becontentedly conscious of our fate ( the jaws of theprehistoric predator before us!)If the soldier can imagine his enemy to be the beast,then perhaps he can die with this intrinsic honor. Throw total war away, leave the unprepared civilianbe. The death of a civilian, bombarded by the atomicbomb is beyond all wrongs. The atom bomb is amanipulated force, the product of the human mind,misdirected to defile humanity and naturesimultaneously. It gives the victims no time toprepare their life for their sudden exit, or worse, fora life tortured by atomic mutilation and shame. Maya human be granted a death of peace, or at least,one of honor? The soldier has been forced to accept his role. Heis fighting for his nation, against another nation,which is his enemy and he, perhaps, can perceiveas evil. Perhaps he has considered his death. Thiswill give him honor in that death, an otherwise emptydestination. We will write a custom essay on Unjust Bomb specifically for you for only $16.38 $13.9/page Order now Let they who do not wish to be heroes or enemies,be. It is indeed morally wrong to end a war by killingcivilians, regardless of whether their lives will savethe lives of soldiers. To save our American soldiers these bombs werehurriedly created by physicists under the guidanceof Oppenheimer. Later he would refer to it as thescientists sin. Perhaps all of human civilization is an atom bomb. We harness nature, in order to destroy both it andourselves. Yet nothing in our civilization is as overtas the atomic bomb. Who are these moralists? These moralists whobear objective truth? There is no truth? The atombomb is natural? It is in our nature to destroyourselves? So it is inevitable that we would forgethe bomb, that our destructive nature would reachfor the golden apple. But what is it? Its a vile apple with worms and rotand dripping poison. We annihilated two cities filledwith human civilians,( not living in a democracy, butunder an emperor, with no influence on thegovernments decision to bomb Pearl Harbor), for agolden bomb. It wasnt gold. The United Stateswould not extend an apology years after the fact. Anapology would mean nothing. But the absence of anational apology leaves one wondering if we stilljustify Hiroshima? There is no honor in the bomb. Itis not gold. The atom bomb is not just. The bombingof Hiroshima was immoral beyond justification. BibliographyLifton, Robert and Greg Mitchell, Hiroshima inAmerica, NY:1995, Avon BooksHershey, John, Hiroshima NY:1995, Avon BooksCategory: History

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Bio Abstract:My cultural background consists of my unique origin, language, culture, religion and race. Sharing it with others can give them a chance to know me better as a person. A healthy relationship can easily be developed with others when they get to know me well; therefore, it is important to share my diverse culture and background with others.Introduction:The country I am originally from is called Bangladesh located at the North East corner of India. The population of our country is 137 million in the area of 55,600 square miles which is less than one third of Texas. This country is the 8th most densely populated country in the world. When anyone comes to visit Bangladesh there's one thing one can not miss: People, People and lots of people.We have an old joke about the population of our country. It goes as follows: Once three people: one from the US, one from Italy and one from Bangladesh were traveling together by a train.United StatesAfter getting to know each other a little e veryone starts to show off; suddenly the American person takes a costly suit out of his travel-bag looking at which the other two exclaims, "Oh! Such a nice suit!!" The American looks at his other two companions, smiles, and throws the costly suit out through the window to their utter amazement. "Why did you do that?" asks the others. "Hey, it's not a problem", answers the American, "We have too many of these in my country." Now, the Italian takes a golden bottle of costly wine looking at which the other two go 'wow', but he smiles at his companions and throws the bottle out of the moving train surprising them. "What made you do that?", asked the others. "Oh! That's no problem. We have too...

Overloading in C, C++ and C# Definition

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Gun Control Laws and Violent Crime Rates do not Correlate Research Paper

Gun Control Laws and Violent Crime Rates do not Correlate - Research Paper Example Global evidences have long been presented as reason of the statement, â€Å"more guns mean more deaths†. Countries like Britain, where gun control laws are implemented, violent crime rates are low. Unluckily, this notion is not true to all countries. In fact, the United State’s crime violence rates intensified throughout 1980s and 1990s. After the undertaken assassination of President Reagan, gun control bill became the agenda of the Congress. Further, Brady Law decrees a period of 72 hours of waiting to buy handguns and the Violent Crime Control and Law Enforcement Act, which bans the production, sale, or ownership of 19 types of semi-automatic weapons. The justification of gun control consists of arguments that ownership or availability of guns is correlated with high violence rates. Thus, gun control laws would be the solution in reducing crimes. This resulted to serious debates.

Management case study Essay Example | Topics and Well Written Essays - 500 words

Management case study - Essay Example By acquiring main players on the European market, Preussag could finally capture more than 30 percent of the European tourism market and was renovated under the new name – TUI Group. Despite some major successes, it its strategy that could be observed in the case study, some additional steps or changes could be made in order to improve it and make final results of the operations even more successful. Firstly, as it was mentioned in the case study the main reason behind consolidation – economy of scale has not yet been reached (Viardot 2007, p. 21). TUI Group made several serious acquisitions in European market and in UK, but they still have rather strong competitors on both markets. They were able to buy fully the main tour operator in France, but could merge only 30% of their main competitor in UK. In addition, MyTravel, one more UK leading tour operator takes a part of the whole market share. They have succeeded with buying German tour operators, but one more competitor originally from Germany is left, which is ReweTouristik. Therefore, TUI Group could try to expand their presence on the European market by continuing a strategy of merges and acquisitions with their main competitors. By doing this they will be able to expand their leadership on the market without making significant changes within the company. In addition, they would be able to reach the level of synergy that would help them to establish the economy of scale, so important in the industry. Secondly, despite the major presence in EU, TUI Group could try to expand their operations in Asia. They could try move even further on East, to Japan. Having these great resources behind, experience and knowledge in multicultural operations and a good strategy, they could try to establish TUI Japan for Japan tourists, because Japan is considered to be a very attractive from the outbound tourism prospective country (Japan Tourism Marketing 2009) especially towards other eastern

Virtuoso Teams Essay Example for Free

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A virtuoso (from Italian virtuoso, Latin virtus meaning: skill, manliness, excellence) is an individual who possesses outstanding technical ability in the fine arts, at singing or playing a musical instrument. The term evolved with time, simultaneously broadening and narrowing in scope as interpretations went in and out of fashion and debates unravel. What words characterizes them best? This article is about these kind of teams which are so different from the ordinary, average teams. The Idea in Brief Imagine these high-stakes scenarios: Your company must enter an untested new market. Or reorganize to take advantage of a new IT platform. Or avert a public relations crisis brought on by product tampering. To manage such feats, you need virtuoso teamsgroups of top experts in their fields. But superstars are notorious for being temperamental and egocentric. You worry that forcing a group of them to work together will create a fatal explosion. So youre tempted to settle for an ordinary project team instead. Dont do it. Ordinary teams may play nice, but they produce results as unremarkable as themselves. Assemble your virtuoso teamand manage it with counterintuitive strategies, advise Fischer and Boynton. For example, instead of emphasizing the collective, celebrate individual egos by creating opportunities for solo performances. Then build group ego by encouraging a single-minded focus on the goal, your teams members will forge their most brilliant ideas. The Idea in Practice Fischer and Boynton suggest these principles for leading a virtuoso team: Assemble the stars. Hire only members with the best skills, even if they have little experience with the problem at hand. After investing heavily in a site promising a big oil find, Norsk Hydro discovered the site was dry. Team leader Kjell Sunde assembled a virtuoso team to avert an investor-relations crisis. The team included the best technical people from across the company. 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