7-Eleven Casestudy

Acquaintance The capacity with react rapidly to the ever-changing commercial center is fundamental to the accomplishment of most organizations. The accommodation store industry is a profoundly serious one and 7-Eleven’s capacity to turn into a pioneer advertise pioneer has all the earmarks of being founded on the company’s capacity to rapidly react to the quickly changing tastes and needs of the market. 7-Eleven has not generally delighted in progress, particularly during the 1980s when things got downright awful for the organization. Aided, be that as it may, showed up as Ito-Yokado (the company’s Japanese Licensee).Ito-Yokado patched up the whole retailing approach of the organization by acquainting a creative methodology with retailing which, alongside the guide of mechanically propelled frameworks, essentially affected 7-Eleven’s achievement. Investigation Ito-Yokado’s creative way to deal with retailing is known as â€Å"tanpin kanri† or â€Å"item-by-thing management†, a business approach that rotates around the accompanying: 1. Cautiously following and focusing on the fine subtleties of the purchasing inclinations of clients 2. Permitting the clients tastes and shopping propensities to direct the items that are conveyed in 7-eleven stores. - Eleven has had the option to rearrange the way toward following and giving extremely close consideration to the shopping propensities for their customers by utilizing the data frameworks introduced in the entirety of their stores. Utilizing TECHNOLOGY TO IMPACT SUPPLY CHAIN VISIBILITY, VARIABILITY AND UNCERTAINTY Technology assumes a crucial job in 7-Eleven’s gracefully chain. The company’s best in class data frameworks seem to have decreased the company’s flexibly chain hazards by expanding perceivability, while lessening changeability and vulnerability. Gracefully Chain Visibility Supply Chain perceivability is the capacity to get to significant flexibly bind information.Thanks to front line innovation, similar to the Mobile Operations terminal or MOT, 7-Eleven knows the specific measure of individual things that are sold in every one of its 5,800 North American stores regularly. Another innovation: the MC3000 handheld scanner lets the organization gather information on astoundingly off conveyance trucks-expanding the company’s perceivability consistently. 7-Eleven’s gracefully chain perceivability has been extraordinarily affected by innovation as it permits the organization to all the more likely anticipate, with incredible precision, the quantity of individual SKUs that each store will sell. Gracefully Chain VariabilitySupply chain changeability includes instability in the progression of merchandise and enterprises in a flexibly chain. By having the correct frameworks set up, 7-Eleven’s gracefully affix inconstancy seems to have essentially diminished. The MOT framework at 7-Eleven, for instance, per mits stores to all the more likely gauge the quantity of individual SKUs, bringing about diminished stockpiling and waste expenses; and the end of potential bullwhip or snowball impacts. Quip has additionally sliced the measure of time and work that it takes to tally stock and to arrange new items, causing an improvement in organization proficiency and a diminishing in variability.Supply chain vulnerability Supply chain vulnerability happens when chiefs don't have a clue what to put together their choices with respect to (because of an absence of appropriate data). 7-Eleven senior supervisors used to shading code data physically truly monitor solidified sandwiches by their composed lapse dates and would in some cases make sandwiches on the reason when educated by corporate administration. Data frameworks currently permit stores to precisely conjecture the quantity of stock/things that should be recharged, bringing about altogether decreased vulnerability. THE BENEFITS OF TECHNOLOGY AT 7-ELEVENTechnology has assumed a significant job in expanding 7-Elevens gainfulness and piece of the overall industry. The a huge number of dollars that the organization has put resources into innovation in the previous decade give off an impression of being delivering profits in the accompanying manners: †¢Increased gainfulness: Last year, the store announced $12. 2 billion in incomes †¢Increased share costs: Company stocks have taken off above $30, since exchanging for under $6 in mid 2003. †¢Consecutive deals builds: The organization brags 35 back to back quarters same-store deals expands Technology assumes a critical job in the social occasion, dissecting and dissemination of data at 7-eleven.While other comfort stores chains have quite recently gotten around to POS checking, 7-Eleven has thing by-thing data gathering frameworks that aid everyday dynamic. 7-Eleven’s retail data framework or RIS gives opportune deals information that empowers stores to ta ilor their item collections to fulfill the needs of their clients, lessening the dangers associated with acquainting new items ( due with the accessibility of deals information inside 24 hours of a product’s presentation). The 7-trade information framework for classification the board, which providers get to on the web, gives bits of knowledge that can prompt new items or item packaging.The data on this framework can even make providers aware of a potential or botched chance. 7-Eleven’s has made its ways for little providers through its Web Vendor terminal. Providers who can't manage the cost of EDI utilize this to speak with the organization and acknowledge orders for unmistakable things like ethnic things or oneself serve coffee in a Manhattan store 7-ELEVEN’S BUSINESS STRATEGY The main impetus behind 7-Eleven’s achievement gives off an impression of being the company’s capacity to execute a Customer Intimacy strategy.Customer closeness includes focusing on explicit market fragments, at that point fitting contributions that fulfill the needs of these sections. Organizations that exceed expectations at this are known to: 1. consolidate point by point client information with operational adaptability (so they can react rapidly to satisfy the necessities of their clients) 2. Constantly tailor and shape their items and administrations (so as to accommodate their clients). As per Keith Morrows, 7-Eleven’s CIO and VP of data frameworks, â€Å"decisions about what ought to be in the store are best made at the store, right now of truth, by individuals in the store, on a continuous basis†.This permits the organization to shape their stores around the customer’s everyday propensities, rather than putting together organization choices with respect to center gatherings, showcasing research or non-logical conjectures. Seeking after a Customer Intimacy technique can be costly: 7-Eleven burned through $93 million on in novation as the organization put in new HP servers, remote LAN, PC based preparing programming and new requesting framework for new nourishments. Client private organizations, in any case, are happy to spend so as to construct long haul client dedication that gives lifetime incentive to the organization.

Reflections on 2 Years at Johnson

This interview is the latest in an Accepted.com blog series featuring  interviews with current MBA students, offering readers a behind-the-scenes look at  top MBA programs (or in this case, a top JD/MBA program). And now for a follow up interview with David Schuette, a second-year student from  Johnson at Cornell University. (We first met David last year – you can read our first interview with him here.) Accepted: How did your second year at Johnson differ from your first year? David: The second year at Johnson is quite different from the first. Second year course load is fully customizable and activities largely focus on giving back to the first year students. It’s also a bit less stressful (though not less busy!), as most people don’t have to worry about a job search because they loved their internship and Johnson has the  highest internship conversion  into full-time offers of any MBA program. Why isn’t it any less busy? Johnson second  year students spend the whole first half of the year pouring countless hours into preparing first  years for interacting with companies and interview prep. In fact, while the Career Management Center (CMC) is fully supportive of helping students find their way, the majority of training comes from clubs, career workgroups, and informal mentoring while the CMC provides behind the scenes structure and support to those groups. It’s a fantastic system that works well due to our supportive community at Johnson. The second half of the year is all about second  years solidifying their network of friends and having fun. There is more time for BBQs, weekend trips, or global treks. It’s also a great chance to take classes outside of Johnson; lots of people explore the broader Cornell campus taking classes ranging from programming, to philosophy, to the oft mentioned wines course at the  Hotel School. Accepted: Congratulations on your new job at Bain! How did you receive this offer? David: Thanks! I’m really excited to be starting in Chicago this fall. The process for full-time recruiting was very similar to internship recruiting except that it happens much more quickly and much earlier (done by November versus February). The actual interview process was identical in structure to internship recruiting, meaning another grueling written case as well as the standard case and behavioral interviews. Accepted: What was the role of Johnson in your job search and landing the position? David: When thinking about what role Johnson had in landing my position at Bain, I believe in taking a very broad view of the question. As anybody will tell you, business is all about the network. I think it’s safe to say that it would have been impossible for me to land a position at Bain without attending a program that had a great relationship with Bain. Similarly, I wouldn’t have been prepared for the interview if not for the collaborative recruiting mentality that we have at Johnson. My peer network was crucial in helping me prepare for my interviews, regardless of what company they were going to. Accepted: Did your involvement in the consulting club play a role in getting your job at Bain? If so, how? David: It’s always hard to say what factors are being considered behind the scenes. What I do know is that as VP of Education, it was my job to know the material inside and out and communicate that to first  year students. I actually believe it’s the latter part that was the most helpful. Consulting is all about working a problem and then explaining that solution in a way the client can understand. By going through the process of being a teacher to first  years, I believe my interpersonal skills were refined in a way that made my interviews (case and behavioral) more like conversations. I suppose the extra reps on case practice also made me much more comfortable with the process. I didn’t necessarily learn the material any better, but by being more comfortable with it I was able to relax and let my personality come through. Accepted: As you look back on your almost two years at Johnson, is there anything you would have done differently? David: With time winding down, I have thought about this a lot. While there were things I didn’t get to do, an MBA is pretty packed and so trade-offs have to be made. You simply cannot do everything and I don’t want to confuse things I wish I  could  have done with things I wish I  would  have done. So I guess my only regret is that I wish I had found a way to make each day longer! Accepted: What now is your favorite class, project or activity? David: Management Simulation this is a class that is as simple as it is elegant. You start by having to decide fewer than 10 numbers to input and it just grows in complexity from there. You must forecast demand, predict competitive responses (from other teams), determine pricing strategy, evaluate capital structure, and a bunch of other things. In some ways it is just a game. But in other ways it shows just how much I’ve learned over the last 2 years. Things like cash flow, multiple market pricing strategies, return on equity, advertising and RD investment, competitive analysis, and many other principles all play a role in running the ‘company’ successfully. I don’t think I could have asked for a better class to round out my MBA. Accepted: Do you have advice for MBA applicants applying in 2015? David: On my blog for Johnson, I recently did an extensive write-up on Picking a Program, which was targeted at individuals trying to make a choice between schools, but I believe it would also be a great read for prospective students looking to apply. In short, get connected to people and ask specific questions. I must have talked to over 10 people at Johnson prior to writing my essays to make sure I had a good sense of what the culture was. It wasn’t just to check a box – that won’t help you; you have to actually be interested for a person to open up to you. Also, I didn’t just try to talk to the president of the consulting club, but also the public speaking club, the beer club, Johnson bloggers, and a few others. Accepted: What advice would you give MBA students starting business school in September? David: Take time for yourself. Things can get crazy busy in an MBA. At times it is with classes and at other times it’s with social events. Some people relax with video games, others with yoga, and still others by writing. Whatever your method of relaxation, take time to do it. You might not realize how bad you need time for reflection when you’re in the thick of it, so think about it ahead of time. Block in off in your calendar. Whatever you do, take that time for you. It’s going to be an amazing 2 years. Good luck! Thank you David for sharing your story with us! Accepted.com ~ Helping You Write Your Best

My Dear And Loving Husband By Anne Bradstreet - 929 Words

â€Å"Marriage: any of the diverse forms of interpersonal union established in various parts of the world to form a familial bond that is recognized legally, religiously, or socially, granting the participating partners mutual conjugal rights and responsibilities†¦ (CITATION)† In the definition of marriage there is no mention of love, yet in western civilization, love is considered the deciding factor in taking that leap. Anne Bradstreet wrote in her poem To My Dear and Loving Husband â€Å"If ever two were one, then surely we. If ever man were loved by wife, then thee; if ever wife was happy in a man, Compare with me ye women if you can (CITATION).† Even though she lived in a Puritan home, Bradshaw freely expressed her love for her husband. This expression could have been viewed as just as radical as homosexual marriage is today. One of the biggest phrases people supporting the Lesbian, Gay, Bisexual, Transgender, LGBT, movement use is, â€Å"Love is love.† People associated with this movement also ask heterosexuals what they would do if marriage was not allowed to them. Yet the Hindi philosophy says that one marries, and then falls in love. Is the reason America is in such turmoil over the various types of marriage in comparison to other countries because this country loves first, and marries second? If love were taken out of the business deal that marriage essentially is, would America be in less turmoil? America as a country would be better economically and socially if marriage was notShow MoreRelatedTo My Dear and Loving Husband by Anne Bradstreet Essay523 Words   |  3 PagesTo My Dear and Loving Husband by Anne Bradstreet If ever two were one, then surely we. If ever man were loved by wife, then thee; If ever wife was happy in a man, Compare with me ye women if you can. I prize thy love more than whole mines of gold. Or all the riches that the east doth hold. My love is such that rivers cannot quench, Nor ought but love from thee recompense Thy love is such I can no way repay, The heavens reward thee manifoldRead More Analysis of To My Dear and Loving Husband by Anne Bradstreet752 Words   |  4 PagesAnalysis of To My Dear and Loving Husband by Anne Bradstreet Anne Bradstreet, the author of â€Å"To My Dear and Loving Husband† was a Puritan. This had great influence on the meaning and theme of her poem. This poem was actually not published until almost 40 years after she died. She lived in a harsh religious world where it was looked down upon for women to be courageous and smart. She lived a life that where she was unspoken and obedient to because of her religious belief. She had many concernsRead MoreTheme Of To My Dear And Loving Husband By Anne Bradstreet954 Words   |  4 Pagespoetry pieces created by the millions of famous poets throughout history. The poems â€Å"To My Dear and Loving Husband† by Anne Bradstreet and â€Å"Shall I compare thee to a summer’s day† __ _______ ___________ are two examples of poetry masterpieces that not only have many things in common, but that also have things that make them unique and singular pieces of literature. When writing, poets like Shakespeare and Bradstreet try to convey a theme or meaning that they want their readers to comprehend and understandRead MorePuritanism In My Dear Loving Husband, By Anne Dudley Bradstreet1144 Words   |  5 PagesAnne Dudley Bradstreet is one of the most widely recognized North American poets. She was the first in the British colonies to have poetry published and the first puritan figure in America. Although Anne Dudley Bradstreet did n ot attend school, she received an excellent education from her father. She became cultured in several languages, and was said to spend many hours reading by herself. At 16 she married her childhood sweetheart Simon Bradstreet. Anne and Simon both migrated to America where theyRead MoreAnne Bradstreet s Poem, My Dear And Loving Husband 1993 Words   |  8 Pagesstrive for more, however, Anne Bradstreet did. She knew she could be much more than the simple ‘house wife’ she was meant be; she valued herself to be more, and took to poetry as a means of communicating her views on life; not knowing one day she would be the famous female American poet she is today. Even with eight children, Anne Bradstreet found time to express her interests and views by writing in her poetry journal. Out of all her many poems, ‘To My Dear and Loving Husband’ stuck out as, one withRead MoreEssay about Love in Anne Bradstreets To my Dear and Loving Husband1407 Words   |  6 Pages affection; also, it mentions â€Å"Love is greatest†. The purpose of my essay is to analyze Anne Bradstreet as a loving, caring and Godly wife using the theme of the verse If ever two were one, then surely we†¦. from her poem To My Dear and Loving Husband. One of Anne Bradstreet’s great works involves the poem To my Dear and Loving Husband†. From this poem, we know that she is very much in love with her husband and children. Anne Bradstreet, Americas first published poet was born in Northampton, EnglandRead MoreEssay about To My Dear and Loving Husband820 Words   |  4 PagesTo my Dear and Loving Husband Romantic language in literature has been used for ages to express authors feelings for another human being. This language has been developed through out the years to create ways in which different types of romantic emotions can be expressed in writing. From the breath taking romantic novels of today all the way back to the first writers of the Bible and the romantic books of Song of Solomon and Psalms, romantic language has not only been used to express human emotionsRead MoreA Woman Love for a Man1201 Words   |  5 Pagesand â€Å"To My Dear and Loving Husband† Thesis: In the short story, â€Å"Story of an Hour† by Mary Chopin and the poem â€Å"To my Dear and Loving Husband†, by Anne Bradstreet both authors reveal how each of their female characters feel about their husband and how each feelings are expressed differently I. Both women are treated differently by their husbands. A. In the â€Å"Story of an Hour†, the central character, Louise Mallard, feels locked in her marriage. B. In â€Å"To My Dear and Loving Husband†, the authorRead MoreAnne Bradstreet s Poem, Before The Birth Of One Of Her Children878 Words   |  4 PagesAccording to literary critics, Anne Bradstreet writes her poetry using one of two voices or sometimes both. One of Annes voices being Mistress Bradstreet— a good puritan wife and mother. Anne Bradstreet uses topic, tone, diction, and imagery to develop the voice of Mistress Bradstreet in her poem â€Å"Before the Birth of One of Her Children.† After reading this poem, I immediately identified the voice of Mistress Bradstreet in the topic. Anne, preparing for the possibility of death during childbirthRead MorePersonality Vs Religion By Anne Bradstreet1395 Words   |  6 Pagesabove all others. In Anne Bradstreet’s â€Å"To My Dear and Loving Husband† and â€Å"Upon the Burning of Our House† and Jonathan Edwards’ â€Å"Sinners in the Hands of an Angry God† it is very evident of this idea that the Puritans had believed. With the access to the Earl’s library, Anne Bradstreet used it to help educate herself. Marrying young, Anne Bradstreet left England and sailed to America with her husband. Enduring the harsh conditions of her new life in America, Anne Bradstreet used her faith in God

Accounting Standard From The Financial Information...

EXECUTIVE SUMMARY AASB 8 is an important Accounting Standard from the financial information reporting perspective. It ensures that the entity has to disclose enough information to the user of financial information about the economic activities the entity is involved into and the scope or spread of these activities. The standard requires the entity to provide information about the reportable operating segments of the entity. Operating segments are the components of the entity of which separate financial information is available and it is regularly evaluated by the management – more specifically – the CODM – i.e. the Chief Operating Decision Maker to assess the performance of the particular component and to allocate resources in appropriate†¦show more content†¦The major focus of this report is on this concept. This report also tries to focus on making a thorough analysis of the management approach and also provide an in-depth discussion on operating segments. The report al so discusses the effects of using the management approach on the financial reports of companies by analysing the annual reports of Woolworth and Westpac. Differences between AASB 8 and the old accounting standards on segment reporting? The segment reporting is generated information and disclose company’s operation in the market with different rate of profitability, different degree of risk, and also for the different opportunities for growth.(Arthur, Luff, Keet, 2012) As core principle of Operating segments states: an entity shall disclose information to enable users of its financial statement to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates. (AASB 8) Or it can understand like this, operating segment is reported in a specific way and consistent with internal reporting provided to the chief decision maker. 1.1 AASB 114 Key differences compared with AASB 8 The old standard on segment reporting was AASB114, and the new standard AASB 8 was applied beginning on or after 1 January 2009. The significant differences between the AASB114 and AASB 8, such as: AASB 114: was applied on 15 July

Analyse an Australian Entrepreneur Summit Homes Group

Question: Discuss about the Analyse an Australian Entrepreneur Summit Homes Group. Answer: Summit Homes Group The summit homes group based in Perth has been rated as one of the best places to work in Australia by different magazines for a number of years. The company has close to 40 years of experience in the home building sector and employs more than 200 staff. The longevity of the firm and continued success in a competitive industry marks it out for a closer scrutiny to learn the secrets of its success. Summit Homes Background The history of Summit Homes can be traced to the founder, John Simpson who is reclusive by nature, with little information known about him. Simpson started out in the construction industry from his early days as a valuer working for the Agricultural Bank in Tasmania in the 1960s. (AFR, 2014).This was the foundation for a life-long interest in the home building industry. Partnering with the National Westminster Bank in the mid-sixties, his first project was a 1740-hectare development in Rockingham. An anonymous building partner joined him the early 1980s to form Summit Homes. This partner was bought out bought out in the 1990s together with the bank, leaving the full ownership to Simpson. Summit Homes group is a wholly owned by the Simpsons family with his son David running it as the managing director. (About us, 2016). Some of the milestones in its history include: 1979- Became member of the Housing Industry Association. 1986 -Officially opens its Headquarters at 242 Leach Highway. 1989- A unit, Prime plumbing is launched and begins to operate within the group. 1994- Became a member of the Master Builders Association. 2004-Crest roofing begins supplying Colorbond and Zincalume roof sheeting for all brands in the group. 2007- Backbone Steel is acquired and starts operations within the group. 2007-Easy start homes is launched to cater for first time home buyers market segment. 2009-Strata Living is launched to cater for the strata segment. 2011- West Gate Financial services is launched to offer the brokering of mortgage services. Organizational Characteristics Summit homes group operates with several subsidiaries under the umbrella group, with each subsidiary specializing in a particular segment of the home builders market. Capitalizing on the economies of scale available through in-house units to provide services within the group is at the core of its operations.( Hayek Klausinger, 2012). Fragmenting the group into divisions, each run competently and independently has contributed to the development of key competencies within each division. The organizational culture is founded on the view that all the staff take each potential home as their own. The staff is motivated with a program that includes birthday celebration, paid training and bi-monthly social event.( Price, 2014). A third of the women working at Summit Homes are in the leadership cadres. The group employs staff who are passionate about houses and who can channel this passion into customer delivery. Each subsidiary is run with a latitude of independence but within the wider scope of the group, to achieve the overall organizational success of the group. his can be seen in the different subsidiary units each being nominated for awards of excellence individually and as a group. The opportunity recognition and idea development The founder of Summit Homes as a founding visionary saw the potential of the growth that would come in the home building market and positioned Summit Homes accordingly.( Herrick, 2012). With foresight, he started to invest in land, as a future opportunity for development and also for speculation. In 2008 he purchased a 200-hectare farm for $14.5 million, on the outskirts of Melbourne. When the government announced the proposal to build a $340 million freight terminal on the site later in the course of the year, Simpson stood to make a good return on his investment. As of 2014, Summit Homes had 2000-lot land bank, in addition to 10,000 houses constructed on more than 1800 hectares of land. The group is renowned for being innovative in its product offerings, offering unique products for different customers.(Department of Commerce, 2014). There is a unique offering for first time buyers, for those renovating as well as for developers. The years of market experience has been instrumental in recognizing gaps in the delivery of products, and the innovation of new products to fill those gaps. The first-time home buyers is spoilt for choice with a bewildering array of offers from which to chose from, leading many of them to make bad choices in their first home.( HIFG,2016). Easy start homes is tailored for the first time buyer navigating the uncharted waters of the property market and the confusion it can bring.( Landgate, 2016). First time buyers are given professional advice on the best product for them, as well as a $15,000 cash back offer. Summit Development Corporation is tasked with developing both large and small scale developments for small and large investors. The Combined Property Settlement Agency is involved in conveyance and preparing of settlement contracts, within the group and also for external customers. Strata living is exclusively concerned with developing strata plots for the client. This was the opportunity recognition of the need to craft a unique product for clients wishing to develop plots with rear strata. To ensure quality standards in the material used, the group has invested in acquiring units to provide materials such as steel fabrication, ceiling products amongst others. Business Developed and Competitive Advantages. Summit Homes has taken a strategic decision to focus its operations in Western Australia and has further divided the market segment into the North and South.( ABS. 2016). Summit Homes North West and South West are involved in the distinct areas with peculiar and unique geography that calls for unique product offers for each area. The realization that the difference in the terrain requires a unique approach to each area has helped in adopting a new strategy within the group. The research and development division has crafted product offerings in line with the topography of the north and the south. The CSR approach of Summit Homes has endeared the group to new and existing clients. Partnering with Channel 9, Summit homes intervenes to give a deserving family of WA a home make over a new beginning in life. Matt and Kim to the rescue is a premier program supported by Summit Homes as part of its CSR to give back to the community. ( Matt and Kim, 2015).This gives it an advantage over its competitors due to the positive image it derives from this program. The program is quite emotional and forms a bond on the human level and shows the humane side of the business group. The other advantage of Summit Homes is the turn key turn-around time of its projects. ( Kaufman Panni, 2014).The customer is guaranteed that the product will be delivered on time. The use of its sub-divisions such Backbone steel and peak ceilings means that there will be no delays in delivery, as opposed to using external suppliers. Having its own factories that tailor specific products such as trusses and panels, has resulted in a from factory to site philosophy which other builders may not be able to achieve. The consistency of the quality of products is also maintained by using its internal divisions which work in synergy for the overall delivery of the group. Future Prospects The future still looks relatively optimistic for Summit Homes in the next few years as the economy is still performing strongly. The strong economy of WA is a factor to consider in projecting the performance of the group. Potential home buyers can only buy when they are economically secure and founded on a strong state economy. The point of market saturation of homes has not yet been reached and there is still a net shortfall in the supply of houses in WA.( Wikie, 2015). A new strategy would be required to diversify its operations to other states in anticipation of the saturation equilibrium that will be reached in the not so distant future. Currently confined to WA, launching into other states will widen its market reach and open new markets for its products. The entry into the new markets should be undertaken maximizing its key competencies in each new state drawing on its 40 years of experience. Another key consideration would be to go public and list on the stock exchange. Selling shares to the public would result in new streams of capital being unlocked for its projects, well as reducing the liability associated with being a totally private entity.( Herold, 2014). New investors will bring on board a fresh injection of ideas, direction and capital. In conclusion, Summit Homes Group has shown resilience in its operations over a period of 40 years. The historical background laid a strong foundation for its future organizational success and was instrumental in shaping its characteristic. The process of opportunity recognition led to the diversification at the group, division development and the resultant advantages that came with it. The future looks optimistic if the current macro indicators of WA remain stable. Changing the shareholding within the group would be advisable for the long-term success of the group in the industry. References About us. (2017) Summit Homes Group. Retrieved from Summit Homes Online https://www.summithomesgroup.com.au.about-us. Accessed April 4.2017 BRW Rich 200 List 2014:107, John Simpson. (2014). AFR. Retrieved from https://www.afr.com Buiding Activity Australia (2016). Australia Bureau of Statistics. Retrieved from https://www.abs.gov.au Accessed April4.2017. Construction Industry Statistics. (2014) Department of Commerce. Retrieved from https://www.commerce.go.au Accessed April 4.2017. First Home Buyers Holding up Housing construction Activity. (2016).Housing Industry Forecasting Group. Retrieved from https://www.planning.gov.au Herold, T. (2014). Financial terms dictionary: Terminology plain and simple explained. Fairfax, VA: Self-published. In Kaufmann, H. R., In Panni, M. F. A. K. (2014). Handbook of research on consumerism in business and marketing: Concepts and practices. Hershey, PA: Business Science Reference. Matt and Kim to the Rescue. (2016). Matt and Kim Town. Retrieved from https://www.mattandkim.com Accessed April 4.2017. Price, J. (2015).Summit Home Work Environment. WA Today. Retrieved from https://www.watoday.com.au. Property Statistics. (2014). Landgate. Retrieved from https://wwwO.landgate.wa.go.au Wikie, Dan. (2015).Builders incentivized to meet market. Business News WA. Retrieved from https://www.businessnews.com.au Accessed April 4.2017. Hayek, F. A., Klausinger, H. (2012). Business cycles. Chicago: University of Chicago Press. Herrick, D. F. (2012). Media management in the age of giants: Business dynamics of journalism. Albuquerque: University of New Mexico Press.

Over The Years free essay sample

Over the years, what has the Canadian Institute of Chartered Accountants established? A standard that all accountants follow In what publication are most of the rules of accounting found? The CIA HandBook What does GAP stand for? Generally Accepted Accountant Principals Explain the business entity concept. Keeping Business and Personal Assets separate Explain the continuing concern concept. A Business is going to continue to run unless they claim not too Explain the principle of conservatism. Accounting should be fair and reasonable A customer who owes $500 to the business has recently died.The lawyer for the customers estate have told the business that there is only one chance in four of the debt being paid. Should the amount be included on the balance sheet of the business? No because it is not for sure you will get the money What GAP(s) affects this situation? Explain. Secured Creditors A contracting company is involved in a dispute over its bill to a customer. We will write a custom essay sample on Over The Years or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The bill for $500,000 was recently reduced to $400,000 by a decision of the courts. The company is appealing the decision. Which amount should be recognized on the balance sheet? Which GAP(s) affect this situation? Explain.Six months ago, you closed out your business. Now a person has expressed an interest in acquiring the business. The potential buyer requests a current balance sheet, but you provide her with the one that was prepared just prior to closing. Will the balance sheet be accepted by the buyer and her accountant?

Persuing a Career in Civil Engineering Essays

Persuing a Career in Civil Engineering Essays Persuing a Career in Civil Engineering Paper Persuing a Career in Civil Engineering Paper Why do I want to be a civil engineer? Until recently, I did not know the answer to this question myself. I was extremely confused when it came to choosing a career. There were so many fields that interested me that I found it difficult to make up my mind. Then I read about civil engineering, an occupation involving the construction of buildings, roads, and bridges. As I looked further into civil engineering, I began to like many aspects of this career. Civil Engineers play a crucial role in the design, construction, and maintenance of buildings. Before beginning construction civil engineers plan layout and every other aspect of a building. As the article â€Å"Architecture (building)† on Microsoft ® Encarta ® remarks â€Å"Architecture must satisfy its intended uses, must be technically sound, and must convey aesthetic meaning† because â€Å"Architecture is a social art† (page 1 of 19). Structural engineers are principally concerned with the structural form of a building, whereas architects are concerned with the integration of the building functions, form, mechanical system, as well as the building itself. It is through their collaboration that complex building can be designed. Designing the overall frame of a building is the first step in constructing a viable and stable structure. According with the Attila Lawrence’s article on the â€Å"architectureweeek† web page, â€Å" In today’s competitive business environment, corporate cultures tend to focus on improving product quality while minimizing costs and managing risks†, (page 1 of 2). Furthermore, the English poet Sir Henry Wotton said: â€Å" Well building have three conditions: Commoditie, Firmenes, and Delight† (qtd. In Architecture (building) page 1 of 19). Structure and aesthetics of a building are related through efficiency, lightness, elegance, and the principles of minimizing weight and using the least material possible to control cost. Civil engineers and architects together design in detail the various components of a building and the materials to be used. According with the article â€Å"Building Construction† on Microsoft ® Encarta ®, â€Å" The major elements of a building include the following: The foundation, the structure, the exterior walls, the interior partitions, the environmental-control systems, the vertical transportation communications, and the power, water supply system†, (III elements of a building, page 2 of 12). Furthermore, as the article â€Å"Building Construction† on Microsoft ® Encarta ® remarks, â€Å"As a eneral rule, state laws require a registered architect or engineer, or both, to execute the design and to make sure the design complies with public health, zoning, and building-code requirements†, (II construction industry, page 1 of 12). Thus the designs of a building are not only influenced by the principles of physics and economics but also by laws t hat are set down by every culture to make buildings conform to their standards. Another factor that influences the design of a building is technology. The article Architecture (building) Microsoft ® Encarta ® explains: â€Å"Architectural form is inevitably influenced by the technologies applied† (page 1of 19). One such technology is the AutoCAD design software. It is used to design sophisticated construction, mechanical, and electrical, structures. According to professor Curtis Burkett, â€Å"AutoCAD is an excellent software that had changed the way of drawing plans and design structure† (personal interview). Paper designs of buildings are a thing of the past. In the age of computers, civil engineers design and test their structures on computers. Civil engineers use their knowledge to make the calculations required for the design of projects and supervise the drafting. Susan Knack in the article â€Å" who builds big† says that the most fun thing about civil engineer job is â€Å" applying problem-solving skills to resolve real-life problems, visiting job site, seeing my designs transformed from paper to real life, and every once in a while, getting to rappel off a building,† (page 2 of 3). Civil engineers calculate the most efficient way to put together the various components of a building, and establish detailed programs for the coordination of site activities. Eugene L. Bass in the article â€Å"The Law Civil Engineering,† says: â€Å"The law has attempted to be of assistance in providing a definition of supervision of the construction of engineering structures. It means the periodic observation of materials and completed work to determine general compliance with plans, specifications, and design and planning concepts,† (page 1 of 2). During construction the civil engineer is charged with the responsibility of insuring that the facility is constructed according to plans and specifications and that the materials and equipment incorporated in the project are those that were called for in the original design. Construction site are among the most dangerous of all industrial workplaces. In the article â€Å"The law Civil engineering† by Eugene L. Bass, â€Å" Supervisions of the construction of engineering structure does not include responsibility for the superintendence of construction processes, site conditions, operations, equipment, personnel, or the maintenance of a safe place to work or any safety in, or about the site† (page 1 of 2). Civil engineers have the control over the employees and the job site, and are the overall coordinators of the work, but they are not responsible for the safety of the workers at the construction site. Protecting construction workers from injury and disease is among the greatest challenges in occupational safety and health. For the construction workers is important to have contractual protections from responsibility for jobsite safety. Civil engineers continuously check the integrity of the buildings, and carry out any emergency reapers that might be required. According with the article â€Å"Building Construction,† Microsoft ® Encarta ®: the contractor, architect, and engineer are legally responsible for any deficiencies in the construction or design for a period of several years after acceptance,† (II construction industry, pages 2 of 12). A civil engineer skill is the knowledge of methods and techniques as applied in surveying and construction and maintenance of works. Furthermore, civil engineers have to take preventive measures to stop corrosion of building parts. For example, Susan Knack in the article â€Å"Who builds big? † explains things that engineers are use to do for the maintenance of a building. She says: â€Å"I investigate why buildings leak and deteriorate and design new construction and repairs to deal with these problems,† (page 1 of 3). Civil engineers have many ways to examine deteriorate building parts, but the most common is the nondestructive evaluation.. According with the article â€Å" Nondestructive Evaluation for Historic Preservation,† Architectureweek web page, â€Å" An investigation usually begins with a walk-through survey of the entire site and structure† then â€Å"A close inspection can then take place, documenting all or selected areas of the building† finally â€Å" An inspection of building systems may address all or only some elements and features of the building, including site and subsurface conditions,† (page 1 of 7). In conclusion civil engineers conceive, plan, construct, and operate facilities that meet basic human needs. It is an exciting field where I can use my creativity to build beautiful, useful and lasting structures. Moreover, civil engineers play an important role in a culture in the sense that a culture is known by what it creates and leaves behind for future generations. I have determined that civil engineering is the career that I want to pursue. I am counting on my passion for building structures that are unique to succeed in this field.