Chapter 1 Overview of Financial Management Environment

CHAPTER 1 Overview of Financial Management Environment 1-1 Overview of Financial Management Role of financial management Forms of business organization Goals of the corporation Agency relationships 1-2 All Successful Firms Accomplish 2 Goals They identify, create, deliver products or services that are highly valued This happens only if the firm provides more value than its competitors (in the form of either lower prices or better products) They sell at prices high enough to cover costs and to compensate owners and creditors for their exposure to risk The profit must be high enough to adequately 1-3 compensate investors 3 Key Attributes for Success 1. 2. Skilled People at all levels Leaders, managers and work force Strong†¦show more content†¦s’s liabilities Their potential losses are limited to their investment This increase the risk faced by an LLP’s lender, customers, and suppliers 1-16 Corporation Many owners Legal entity created by a state, and it is separate and distinct from its owners and managers 1-17 Corporation Advantages: Unlimited life A corporation can continue after its original owners and managers are deceased Easy transfer of ownership Ownership interests can be divided into shares of stock, which can be transferred easily Limited liability Losses are limited to the actual funds invested Ease of raising capital 1-18 Corporation Disadvantages: Corporate earnings may be subject to double taxation The earnings of the corporation are taxed at the corporate level, and then earnings paid out as dividends are taxed again as income to the stock holders Cost of set-up and report filing Setting up a corporation involves preparing a charter, writing a set of bylaws and filling the many required reports 1-19 Corporation Charter: Establishing Separate Legal Entity Name Activities Amount of Capital Stock Number of Directors Names Addresses of Directors Bylaws: Rules for conduct of Activities How Directors will be elected Preemptive Right to new stock issues Procedures for changing Bylaws, if required 1-20 Goals of the Corporation The primary goal is shareholder wealth maximization, which translates to maximizing stock price 1-21 Factors that affect stock price Projected cash flows toShow MoreRelatedVietnam s Economic Growth On The Economy1320 Words   |  6 PagesTable of Content: 1. 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Leadership Styles And Leadership Skills - 1256 Words

According to our textbook, â€Å"leadership is an influence relationship among leaders and followers who intend real changes and outcomes that reflect their shared purposes† (Daft, 2014, pg. 5). In another word, leadership is not defined by what one individual does, but as the ability to form an alliance, motivate, empowered, coach, and to build relationship with others. Leadership is a set of skills that leaders can practice over time. In addition, there are different leadership perspectives one can develop in order to become an effective leader. Furthermore, there are a number of leadership styles leaders can adapt to. Among them are micromanaging, coaching, democratic, delegating, and many more. All these leadership styles can be added to a†¦show more content†¦Many researchers have lodged a number of theories of leadership to better understand leadership, and most importantly, why some people are better leaders than others. For example, behavioral theories of lea dership focus on the leader’s behavior towards followers. Theorist concluded that a leader’s behavior will not only reveal his or her leadership influences, but also determine his or her leadership success. Behavioral theories support a number of different approaches to mandate. The text book describes two important behaviors leaders demonstrate, autocratic and democratic. According to Daft, â€Å"an autocratic leader tends to centralize authority and derive power from position, control of rewards, and coercion† (2014, pg. 44). For example, followers rely on their leaders for everything, and they have limited access. On the other hand, â€Å"democratic leaders delegate authority to others, encourage participation, relies on subordinate’s knowledge for completion of tasks, and depends on subordinate respect for influence† (Daft, 2014, pg. 44). Followers with democratic leaders have a better chance to grow in an organization. Traits are the distingui shing personal characteristics of a leader, such as intelligence, honesty, self-confidence, and appearance (Daft, 2014, pg. 36). Trait theories assume that people ingrained certain qualities and traits that make them better suited to leadership. Trait theories often identify particularShow MoreRelatedLeadership Styles And Leadership Skills887 Words   |  4 PagesLeadership is a concept that people cannot grab. People assume that when you become a manager or a supervisor you are anointed with leadership skills. John Maxwell, who has worked with numerous Fortune 500 companies and has sold more than 25 million books thinks this about leadership â€Å"Leadership is not about titles, positions or flowcharts. 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As the profession continues to grow, it will become increasingly important for the nurse to develop skills in both leadership and management roles (Marquis, B. L., Huston, C. J., 2017). For optimal functionality, a great leader most possess both leadership and management skills. Gadner (1990) asserted that integrated leader-managers possess six distinguishing traits. These in clude. 1) They think long term. 2) They look outward, towardRead MoreLeadership Skills And Styles Of Dr. Brown1991 Words   |  8 PagesElementary School. Dr. Brown holds BA in Philosophy, M. Ed. in Special Education and PhD in Educational Leadership and possesses 15 years of experience in administering urban school districts. Moreover, Dr. Brown has a passion for students, families and staff. The principal believes in authenticity, commitment, fairness, tenacity, playfulness and vision as the fundamental hallmarks of leadership. 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The Music Of Elvis Presley - 898 Words

There were plenty of music coming out and showing up in the 1960’s. It was time; time for a new form of music, a new sound, it was time for a revolution. There were all types of music being played and new music being formed. There were all sorts of bands playing different kinds of music and playing with their own styles while taking over the airwaves. Whether it be rock, soul, or any other type of music, it was a revolution. This also led to new bands forming and breaking into the industry. In the sixties rock music comes of age and dominates the popular music charts. Elvis Presley continued to score hits in the early part of the decade, but the music continued to diversify with the folk revival, the Brill Building sound, Phil Spector s wall of sound, girl groups and surf music, all impacting the early part of the decade. The Motown, Stax and Atlantic labels bring more African-American artists back to the forefront of the pop charts. By 1964 American artists are sharing the top of the charts with U.K. bands led by great bands like the Beatles and The Rolling Stones. In the U.S. garage bands emerge, inspired by the British Invasion sound. There were many bands that were ruling the airwaves and even just beginning and making their name in the music industry. From the Beatles to Led Zeppelin, all the way to Black Sabbath in the category of Rock. Songs ranging from â€Å"Hey Jude† to â€Å"Whole Lotta Love†. In Soul/Motown; the Temptations to Smokey Robinson and the Miracles, all theShow MoreRelatedThe Music Of Elvis Presley916 Words   |  4 Pages There were many types of bands and many diverse forms of music coming out and showing up in the 1960’s. It was a time for a new form of music, a new sound, it was time for a revolution. There were all types of music being played and new music being created. There were all sorts of bands playing different kinds of music and playing with their own styles while taking over the airwaves. Whether it be rock, soul, or any other type of music, it was a revolution. This also led to new bands forming andRead MoreEssay on Elvis Presley and African American Music16 67 Words   |  7 Pagesagain agree on anything as we agreed on Elvis.† (Bangs 1) Elvis not only made significant contributions to the music industry, but he became the most famous idol across the world and in the U.S.A. Elvis Presley was regarded as one of most influential rock n’ roll performers of the century. If you say â€Å"The King of Rock† everyone will automatically know you are talking about Elvis Presley. Through his music, Elvis paved the road for African Americans to the music world, and he had essentially revolutionizedRead MoreElvis Presleys Influence on American Culture Essay1236 Words   |  5 Pages Elvis Presley is one of the biggest names in rock and roll. 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Artists such as Presley had enough influence to change the view of their devoted fans onRead MoreHow Elvis Influenced And Changed The Entertainment Industry Of Rock N Roll Era1408 Words   |  6 Pagesappropriately analyze the question of â€Å"How Elvis influenced and changed the entertainment industry of Rock ‘n’ Roll† the reader must first clearly define and understand the timing and age of the development of his musical career as well as the characteristics of his music. When attempting to clearly understand the implications of his influence on the era, the reader must fully comprehend his early life and the development of his musical career, the type of music he portrayed to his audience, and how heRead MoreElvis Presley Essay1096 Words   |  5 PagesElvis Presley Essay When historians look at history and at reasons why society changed many focus on conflicts like wars, civil rights, and poverty. However, there is so much more that over time changed America. One of the most influential subjects that helped this change was Elvis Presley. Through his music, which was influenced by black artists, he allowed white Americans to view a new group of performers. He tested social boundaries that helped him change American culture. His appearance andRead MoreElvis Presley : An American Legend750 Words   |  3 PagesBrenden Blakney Lit II P.9 Elvis Presley Biography On the 8th of January in 1935, Gladys Presley (mother) and Vernon Presley (father) gave birth to twins. One of which is an American legend known as Elvis Presley, and the other Jessie Garon was stillborn. That left Elvis growing up in Tupelo, Mississippi as an only child in a working class family. In Tupelo Elvis’ family had many relatives, close by such as uncles, aunts, and grandparents. His family had little income, but Gladys and Vernon didRead MoreElvis Presley Influences876 Words   |  4 Pagesaccomplished or done. These influential individuals have strengths and weaknesses and are remembered for both. Elvis Aaron Presley can be seen as influential because he greatly affected the music business. He paved the road for Rock n’ Roll and after all he was a very respected individual. Elvis was unique and different and held very great attributes. He pushed the boundaries and limits of music, and he showed his style and personality through his work. â€Å"In 1954, the performer kicked off a musical revolutionRead MoreElvis Presley : The King Of Rock And Roll1674 Words   |  7 PagesElvis Presley, though having a troubled childhood would not have expected anything that headed his way; He was a normal child whose family was struggling to make ends meet. His father was incarcerated for doing illegal activities, making difficult for young Presley to wish for something more. As he grew up, Presley was involved in the schools singing service and had participated in the fair singing contest winning second place; thus showing Elvis’s love for singing. Despite after graduation, he simplyRead MoreControversy with Elvis Presley968 Words   |  4 PagesRock and roll music existed before Elvis Presley came along, but with his arrival on the performing scene, Americans could ignore it no longer. In 1956, he strode in front of a television camera for the first time as the provocative image of a high school hood and achieved an instant rapport with millions of U.S. teenagers who were experiencing their own adolescent rebellion. Hip-wiggling gyrations that brought a storm of protest from the adult world reinforced

The Geography 101 Course Essay Essay - 894 Words

Through the Geography 101 course, I have become increasingly familiar with certain concepts that are easily applicable to cities and countries that I am familiar with. These concepts help me fully understand the geographic situation occurring in these locations. One location that has been brought up many times throughout the semester and I have increased with familiarity is Japan. This location is constantly changing and growing. It exports many different vehicle and machinery parts, and is at the forefront of technology and the revolution that follows. Though I do not have any personal connections to the country of Japan, I know that has important geographical traits and occurrences that affect the population and cultural geographies, the agricultural and economic geographies, and the political and urban geographies of the country. The world is constantly growing. Currently there are 7.3 billion people. We need to create space and ensure food and nutrition for many, also known as food security. Japan is a country that prioritizes making room for citizens and ensuring enough food and medication are accessible. Tokyo is a heavily populated city, it needs to create or have access to a sustainable food source for the inhabitants. Space is also important. The buildings and homes are very close together to create more space for more people to live in the city. Is this city able to carry that many people? The carrying capacity refers to the maximum number of users that can beShow MoreRelatedBetrayal Like Its 1984 Essay929 Words   |  4 PagesProfessor and Interim Dean of the College of Liberal Arts Sciences wrote, â€Å"For we know—as, of course, did Orwell himself—that minds do not always break under torture, that some people suffer appalling pain and fear and yet refuse to betray their loved ones a nd their comrades in arms† (14). Unfortunately, it was inevitable that the torture in Room 101 would break Winston’s loyalty to Julia. In Room 101 Winston’s nightmare was rats. When faced with only the thought of the rats attacking him, heRead MoreAnalysis Of Mahans Advocacy For Sea Power Against Mackinders Views On A Nations Economic Prosperity And Security1709 Words   |  7 Pageswho acknowledges that the Mahan texts are often misapplied because of â€Å"misreadings† or â€Å"†¦all too often upon no reading of the original texts at all† (Sumida 101, 2001). He also gives credit to Mahan for being one of the earliest advocates for joint operations recognizing the criticality of naval operations in direct support of land forces (101 110, 2001). This is just one example of the incongruity of the land power/sea power debate. Mahan’s support for the ‘Mackindian School’ and Mackinder’s supportRead MoreAssignments: Ed ucation and Learners3914 Words   |  16 Pages102/2008 2 PST103E/102 TABLE OF CONTENTS 1 2 COURSE MATERIAL THE EXAMINATION 2.1 2.2 2.3 3 4 Admission to the examination Learning content for the examination The examination paper: layout, duration and total marks 3 3 3 3 4 4 4 4 6 6 8 11 ASSIGNMENTS THEME FOR DISCUSSION 4.1 4.2 4.3 4.4 Introduction Outcomes-based Education (OBE) The planning of learning activities Assessing outcomes-based education 5 A FINAL WORD 3 Dear Student 1 COURSE MATERIAL PST103E/102 By now you should have receivedRead MorePrince Edward Islands’ history is a crucial aspect in Canada’s past. The work of historians has3000 Words   |  12 Pagesisolated geography and heavy British influence. 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Hopefully, by the end of this essay, there will be a better understanding of who really has politicalRead MoreEssay about Elite Politics2212 Words   |  9 Pagestimes dominate government groups will be examined in this essay. Also, there will be an analys is of those who were political elites in Canada over the past centuries. Also, some new discoveries may be turned up that help us have a better understanding of this elitism. Finally, we will discuss if interest groups and minorities have real political power, or perhaps they are just given token compensation. Hopefully, by the end of this essay, there will be a better understanding of who really has politicalRead MoreBlack Men Can’t Rock? Towards an Understanding of The Lack of Black Men in Rock Music2211 Words   |  9 Pageswhich originated in the 1920’s. The race record charts were created in 1945 by Billboard magazine and continued until 1949 when it was then replaced by the Rhythm Blues charts. The attitude to genres in this era is apparent in an interesting 1955 essay entitled Music in American Culture. â€Å"For discussion purposes, four major musical streams may be considered here: academic music, most often discussed under the misleading term â€Å"classical†; folk music of white communities; popular music, s distinctlyRead More The Search for Self in Tirra Lirra by the River Essay2806 Words   |  12 Pagesallegory and symbolism, and aimed at the reader. Jessica Anderson aims to develop this dual understanding through the exploration of two main themes: the quest for self-knowledge, and the consequences of gendered societal repression. In this essay I will explore these themes, and how much Nora and the audience respectively finally understand in relation to them. The Quest for Self-Knowledge Nora Porteous, the main character of Tirra Lirra by the River, embarks on a voyage of self discoveryRead MoreCRISIS COMMUNICATIONS ACTIONS OF CARNIVAL CORPORATION AFTER THE COSTA CONCORDIA CRISIS AND THE IMPACT ON COMPANIES REPUTATION4255 Words   |  18 Pageshistory, corporate crises have received high media attention and demonstrated the impact that a disaster can have on a company’s reputation. This essay evaluates the crisis communication strategy of Carnival Corporation plc after the sinking of the Costa Concordia, and the impact that it had on the corporation’s future on the market. Introduction This essay is a case study that examines the crisis communication strategy of Carnival Corporation after the sinking of their ship Costa Concordia in JanuaryRead MoreRisk Pooling in Health Care Finance18578 Words   |  75 Pagessystem of fragmented pools, and that methods of integration are therefore required. The report offers some guidance on implementation (section 4). Numerous choices must in principle be made, including: †¢ the institutional basis for risk pools (geography, employment sector, employment status, and so on); †¢ the criteria for membership of a risk pool; †¢ the size of risk pools; †¢ whether or not the risk pools are competitive; 1 †¢ †¢ †¢ whether or not contributions are mandatory; whether

Why I Choose a Career of Medical Transcripionist Free Essays

There is a wide range of job opportunities available to practically anyone in the US. One particular occupation is a Medical Transcriptionist, a career I have been inspired to strive for. There are a number of reasons why I desire to become a Medical Transcriptionist. We will write a custom essay sample on Why I Choose a Career of Medical Transcripionist or any similar topic only for you Order Now One reason is that I spend a large amount of time in front of the computer. I continue to maintain a 70-80 WPM typing, and I would honestly love to gain money from typing. I also would like to contribute to making sure medical processes go smoothly by creating concise, clear documents. My friend recommended medical transcription to me, and I began to research it. I wanted to pursue a Medical Transcription certificate or degree to increase my chances to get some sort of transcriptionist or clerical job. The most beneficial advantage for working as a MT is the flexible hours and availability to work anywhere, like at home. Although that may be the largest advantage to most, there is a reason for me to be able to work at home. As my spouse in IT job, most of the time we are travelling from one city to another. Due to this frequent travels and switching of places I am not able to concentrate on my job. Also I have my children to look after and concentrate and also I want to be a support for my husband so that we can take acre of the loans and other needs of the family in a more efficient way. Also we are living here in another country far away from ours and we are not able to frequently visit our family back there due to financial constraints. With this flexibility, I will be able to afford money and time to visit them. Penn Foster is a great MT course choice for many different reasons. I have searched long and wide for medical transcription schools and found many, including US Career Institute, Allied Medical School, and Career Step, all of which ranges from $1200-$1800! The cheap pricing (and high quality) of Penn Foster is a great motivation to consider this class over others. In addition, the courses will give me a great overview to how each medical practice works, allowing documents to be written smoothly. In addition, Penn Foster allows me to take the course at my own pace and also in the comfort of my home. This educational program also offers services to student. I feel like I have confidence that I can do my best with Penn Foster by my side. In the future, I hope to achieve the MT education needed to be granted a job as a transcriptionist. I believe taking this class will give me a much better understanding with medical disciplines and the works. Penn Foster really seems like the best opportunity I can pursue to achieve that job placement! How to cite Why I Choose a Career of Medical Transcripionist, Papers

Relation Between Various Management Free-Sample for Students

Question: Discuss how Business Management, Service Management and Value Revenue Management will assist Resort Management to achieve Organisational Goal. Answer: Introduction It is the nature of all business to maximize their respective economies of scale to an extent of going from local to international markets. It is worth noting that even while maximizing the level of productivity of the business as the cardinal objective of all enterprises, the production of quality, safe, healthy and reliable goods and services is their unmentioned obligation. In this study, the relationship that exists between business management, service management, value and revenue management and resort management will be discussed ideally to the satisfaction of the reader. Resort Management Objectives Under business resort management, what comes as the core objective is, of course, enjoying marginalized levels of profits. There are several methods that profit can be heightened without necessarily having to constraint consumers. For example, during the initial processes of production, the cost of all expenses can be cut down through product diversification. Diversification of products has the power of utilizing all the available resources that a business has prior to coming up with a finished product (Bennett, 2015). Additionally, when the new products are ready to get into the market, chances are that when consumers reject one, they can gladly accept the other. The second objective of resort management is to develop an attractive product. According to business, one of the greatest techniques that successful entrepreneurs use to beat competition that emanates from the threat of entry of new firms and those that were already in existence is product promotion. Designing a unique and quality commodity or service has the power of attracting more consumers since everyone in the current prorate world wants to go for the most recent and most fitting taste. Moreover, being able to adapt to the new tastes and preferences of consumers of different goods will do the business more justice than harm. The third objective under resort management is developing a skilled and alert workforce. In the set of codes of conduct of being great employees, all personnel is usually advised to develop great work presence such as displaying the ability to work well with others. This is contained under the principle of teamwork. Honesty and respecting each other at all times during and off from work is another critical attribute that all employers would want to see in their employees (Castelluci, 2016). Most importantly, loyalty and provision of quality goods and services form the backbone of a skilled and attentive workforce. Being in a position to respond to a clients needs in time and as requested by the specific client is what determines the professionals from the goofy ones. The final goal of business resort management is the desire to be a sustainable business entity. Wise men have it that everyone dreams of achieving success but only a handful will wake up and demonstrate all that they seek to attain by the end of every financial period. In resort management, claiming a sustainable business entry is simple but the hardest task comes in bringing into practice all the theoretical concepts of achieving success. According to Daniel Goleman, one of the greatest attributes of being a great leader is setting achievable goals and making strategic moves on how best to achieve the set goals. In other words, when the leadership of a resort set achievable goals, chances of attaining his goals run high. Business Management in relation to business resort management The role that business management plays in ensuring that resort management achieves its set objectives is the coordination of all human resource personalities. Business management specializes with the role that human resource management has to play in the general productivity of the business. An analysis of this will reveal that resort management needs to hire qualified employees that have depicted the most desirable traits of a great workforce that can work well in the prevalence of team spirit (Johnston, 2012). In other words, the purpose of business management is to hire and fire. It is prudent to note the fact that of all the objectives that business resort management has, the only one that business management is concerned with is the acquisition of a skilled and attentive workforce. In the service industry, the knowledge that each personnel has is what will determine the level of job position that he or she will occupy (Laudon, 2013). The more skilled an employee turns out to be, the higher his chances of securing a job promotion each financial year. Ideally, a steady and reliable workforce increases the chances of the business in enjoying maximized economies of scale. Service Management in relation to business resort management The ideologies or rather principles of service management uses are more or less the same as those of business management. The only difference between the two is that the former specializes on the human resource department while the latter dwells on the relationship that exists between the business and the outside world. Establishing a business entity that is devoid of any customer relations will reduce the capability of the business to improve its level of productivity (McCrea, 2013). Once this happens, chances of the business running under cannot be overruled. On that note, the objective that service management helps business resort management to attain is ensuring that it becomes a household name. According to a business perspective, a household name is more like a reliable source of whatever content is being offered. On this note, a sustainable operation would suffice just as well. As mentioned in the previous sections of this study, coming up with unique and quality commodities and services is one of the surest ways of achieving sustainable operations. Additionally, trying as much as possible to stay within the jurisdictions of the law is another way to determine the legality and authenticity of the business. Value and Revenue Management The relationship between resort management and revenue management is told during the stage of price determination. For most firms that might be trying new entries in already existing markets, being able to keep to terms with the competition, threats and demands might be a dreaded nightmare (Norman, 2013). This is where the idea of value and revenue comes into question. The two will work hand in hand to determine the approximate value that a given service needs to go based on the preparations that were put in place to ensure that the specific service got the most desired feedback from a consumer. The same applies to all goods while paying attention to all the costs involved prior to coming up with the finished product. That being mentioned, it can be deduced that the goal that this prospect helps business resort management to achieve is making maximized levels of economies of scale. References Bennett, B. (2015). The Business Plan. New York: Lulu.com. Castellucci, F. (2016). The dynamics of position, capability, and market competition. Industrial and Corporate Change. London: Laudon Glachant, J.-M. (2011). Competition, Contracts and Electricity Markets: A New Perspective. Chicago: Edward Elgar Publishing. Johnston, R. E. (2012). The Power of Strategy Innovation a New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities. New York: AMACOM. Laudon, K. (2013). E-commerce: Business, Technology, Society. Boston: Addison Wesley. Meiners, R. E. (2014). The Legal Environment of Business. 7th ed. Cincinnati, Ohio: West Legal Studies in Business. McCrea, B. 2017. Developing an Effective Business Plan. London: DigitalPulp Publishing. Norman, G. (2013). Market Structure and Competition Policy: Game-Theoretic Approaches. Cambridge: Cambridge University Press. Rosen, A. (2015). The E-commerce Question and Answer Book a Survival Guide for Business Managers. New York, N.Y.: AMACOM. Tirole, J., 2012. Overcoming adverse selection: How public intervention can restore market functioning. New York; The American Economic Review

Performance Evaluation And Control Of Organisations - Free Samples

Question: Discuss about the various approaches to performance evaluation and control in various types of organisations. Answer: Introduction: A value chain is a concept which lies upon various activities which are used by the company to deliver the best quality product to its clients. Basically, value chain helps the organization to add the value in the products of the company. Through it, various aspects of the company such as marketing, production, provision etc are analyzed. This study is done to get the better balance between entire resources which are available and for satisfying the needs of the stakeholders. Basically, value chain unites in a proper framework and a management style that mainly focus over the worth; it motivates the team and individual to work properly, consideration over the culture and environment of the organization. Company profile: For this study, Hawker Siddeley has been taken into consideration. This company is mainly engaging into the manufacturing of aircrafts. This company has acquiesced various small firms and currently this is one of the biggest aircraft manufacturing companies. This company has been founded in 1934 as the name of Hawker Siddeley Aircraft Company. The main vision of the company is to be leader in international defence, Security Company and aerospace. Consequently, the main mission of the company is to enhance and safeguard the clients vital interest and also deliver the growth to the value of the shareholder. Managerial highlights of the company depict about the growth of the company and the various strategies which have been opted by the company to manage the value of the shareholder. Further, the main product of the company is aircraft and various services related to aircrafts. The staff function and the line function of the company depict about the various aspects of the production of the company (annual report, 2016). Line function of the company is concern about the advancement of the operations of the company and as well as staff function of the company is concern about the support and advisory functions. Value chain: Value chain is a model which is developed by Michal porter to manage the production of a company. In this model, business gets raw materials, which adds value of raw material through numerous procedures to produce a finished product and then the end product is sold to the customers. The overall goal of value chain is to deliver the maximum value of least possible cost and also help the company to make competitive advantages (Peters et al, 2011). In case of Hawker Siddeley, it has been found that the company is managing the value chain in a best manner; the process of value management starts from receiving the raw material and ends up by selling the end product to its customers. Through the analysis over the company, it has been observed that company has managed a good value chain to maximise the worth of resources and reduce the total cost of the company. Planning: Further, the process of value chain of Hawker Siddeley has been analyzed. Through the study over the company, it has been observed that the various business strategies shave been adopted by the company such as better working capital management, suppliers choice , market choice etc to manage the value chain of the company and maximise the worth of resources and reduce the total cost of the company (Miller and Mork, 2013). It has been found that the current ratio and the working capital have been managed by the company to manage the entire resources of the company and manage the performance of the company. the current scenario of the company depict about a great value chain of the company as various issues have been reduced from the operations of the company and the extra cost of the company has also been reduced by the company. Currently the gross margin of the company has been 18.46% and in last year, it was 18.65%. Further, it has also found that the brumby aircraft Australia and Jabiru Aircrafts are the business competitors of the company. It has been found that these two companies are also performing their operations in manufacturing the aircraft. It has been found that both the companies are giving the huge competition to the Hawker Siddeley (Miller and Jones, 2010). Further, it has been found that company is not required to threat from the potential rivalries. Due to the reason that huge amount is required by the companies to enter into this industry and start producing the aircrafts. Thus the company is not required to threat from the potential rivals. Lastly, it has been found that the company is required to collect information about various aspect and particulars to prepare and manage a better budgeting report. It has been found that for preparation of a better budget report of manufacturing budget, information about raw material units, their price, indirect labour, direct labour, employee benefits, manufacturing supervision, insurance, property tax, depreciation, factory rent, repairs and maintenance, small tolls etc is required. Further, it has been found that for preparing the selling budget, cost of sales of the product, various categories of the product, sales amount, distribution and administration expenses etc must be analyze (Centi, Quadrelli and Perathoner, 2013). (Morningstar, 2017) Controlling: Further, the controlling process of the company has been analyzed and it has been found that the Hawker Siddeley is performing well in the market. In the process of planning, it has been analyzed that what are the aspects which must be taken into consideration while preparing the budget plans of manufacturing and selling. Than it has been found that it is required for the company to monitor the manufacturing and selling plans in a proper manner so that the best plan could be made and after implementing that plan, company can achieve the goal. (Gereffi and Sturgeon, 2013) For controlling over the manufacturing and selling plans, it is required for the company to analyze the feasibility of the plan firstly than company could implement that plan only. Further, it has been found that the manufacturing and selling department must review the differences among budgeted and actual expenditure. They must resolve the issues of variances and then it must be investigated by the managers that the budget is offering the surplus report or deficit report. Further it is also suggested to the company to manage and prepare the reports after analyzing every related aspect so that the best budgeting plans could be made and after implementing that budget, company could be achieved the goals and objectives in such a manner. (Hollensen, 2015) In addition, the impact of balanced performance has been identified. It is a system of strategic management and planning which helps the organization to manage various aspects related to the company. Balance scoreboard is used by the manufacturing companies to identify the performance of various related aspects in such a manner that the company could achieve the goals and objectives. Through this report, it has been found that the balance scoreboard is required to manage by every manufacturing company to manage the performance of the related parties. For managing the financial perspective, balanced scoreboard address over the questions such as how the firm is viewed by the shareholders and which goals of the finance are needed according to the shareholders perspective in a company (Funk et al, 2010). The financial objectives of a manufacturing company depend over the stage of the company and the business life cycle. In addition, customer perspective depends over the type of customers, products and services expected by the customers from the company, the way company listens to the customers and make changes according to their feedback. How the company acquire and retail the new customers and the way through which company meets the requirements of the customer (Gereffi and Frederick, 2010). The main perspective of the customer is related to the market share, customer retention, acquisition of the customers, satisfaction level of the customers, profitability position of the customers etc. Further, the process and the learning and growth perspective of the company has been analyzed and it has been found that various aspects must be scored to analyze the growth, process and learning of the company (Baldwin and Venables, 2010). The main question is related to the skills of the company to learn, improve and make some innovation so that the objectives could be met. Further, the process and the learning and growth perspective must be focus over the calculative outcomes so that the company could go forward. Various aspect, such as the process of manufacturing, human capital, people issues, technology issues, information capital, organizational capital etc are analyzed in this perspective in Hawker Siddeley. Decision making: Lastly, the decision making process of the company has been analyzed and it has been found that the Hawker Siddeley is performing well in the market. In the process of decision making, company takes the decision about various aspects which are related to the various dilemma of the company. Than it has been found that it is required for the company to identify and analyze all thee related factor and then only the company must take the decision (Johnson, 2014). In this report and analysis over the company, it has been found that company had faced a dilemma to choose between the buying the raw material and manufacturing them into the companys plant itself. For this the buying price of the raw material has been analyzed and at the same time, it has also been identified that the how much cost would be occurred in the company if the raw material would be produced by the company. (amt in '000) Per unit Total Make Buy Make Buy Purchase price 40 40000 Direct Material 10 10000 Direct Labour 8 8000 Variable OH 9 9000 relevant Fixed OH 12 12000 Total Relevant cost 39 40 39000 40000 Difference in favour of buying 1 1000 Thus it could be said that company must buy make the product into the factory as the cost saving of AUD 1000000 will take place in that case (Fayard, Lee, Leitch and Kettinger, 2012). Further, it has been found that company had also faced a dilemma to choose between the diversifying the market or invest into the existing market. For this, various aspects have been analyzed by the managers of the company in terms of economy, information rate, FDI, competitors, feasibility etc and then a decision must be made by the manufacturing company. Through the chart, it could be said that it is better for the company to diversify its market into various other countries to manage the profit and enhance the worth of the stockholders. Conclusion: Thus through this report, it could be concluded that it is required for every company to manage and identify the various factors which could enhanced the value of the products and services of the company as well as the manufacturing company must take care the process from the process of value management starts from receiving the raw material and ends up by selling the end product to its customers. Through the analysis over the company, it has been observed that company has managed a good value chain to maximise the worth of resources and reduce the total cost of the company. Thus it could be concluded that the manufacturing companies could enhance their worth and value of stakeholders by looking over the value chain and manage it in a proper way. References: Baldwin, R. and Venables, A.J., 2010. Relocating the value chain: off-shoring and agglomeration in the global economy. Centi, G., Quadrelli, E.A. and Perathoner, S., 2013. Catalysis for CO 2 conversion: a key technology for rapid introduction of renewable energy in the value chain of chemical industries. Energy Environmental Science, 6(6), pp.1711-1731. Fayard, D., Lee, L.S., Leitch, R.A. and Kettinger, W.J., 2012. Effect of internal cost management, information systems integration, and absorptive capacity on inter-organizational cost management in supply chains. Accounting, Organizations and Society, 37(3), pp.168-187. Funk, C.A., Arthurs, J.D., Trevio, L.J. and Joireman, J., 2010. Consumer animosity in the global value chain: The effect of international production shifts on willingness to purchase hybrid products. Journal of International Business Studies, 41(4), pp.639-651. Gereffi, G. and Frederick, S., 2010. The global apparel value chain, trade and the crisis: challenges and opportunities for developing countries. Gereffi, G. and Sturgeon, T., 2013. Global value chain-oriented industrial policy: the role of emerging economies. Global value chains in a changing world. Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education. Johnson, M. and Templar, S., 2011. The relationships between supply chain and firm performance: the development and testing of a unified proxy. International Journal of Physical Distribution Logistics Management, 41(2), pp.88-103. Johnson, P.F., 2014. Purchasing and supply management. McGraw-Hill Higher Education. Miller, C. and Jones, L., 2010. Agricultural value chain finance: Tools and lessons. Food and Agriculture Organization of the United Nations and Practical Action Pub.. Miller, H.G. and Mork, P., 2013. From data to decisions: a value chain for big data. IT Professional, 15(1), pp.57-59. Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015. Purchasing and supply chain management. Cengage Learning. Morningstar, 2017. Hawker Siddeley, Australia. Retrieved from https://financials.morningstar.com/income-statement/is.html?t=BA Peters, M., Khler, B., Kuckshinrichs, W., Leitner, W., Markewitz, P. and Mller, T.E., 2011. Chemical technologies for exploiting and recycling carbon dioxide into the value chain. ChemSusChem, 4(9), pp.1216-1240. Zengin, Y. and Ada, E., 2010. Cost management through product design: target costing approach. International Journal of production research, 48(19), pp.5593-5611.