Instructions

ACC ….150 word reply…….. Reply to the below student post.

ACC Classmate #1 : Alie

Artisan Shirtcraft is Just like most small businesses that starts with one or two partners but just within few years grow to a level that no one expected. It is going to take some smart management techniques to put the company in the right organizational structure that fits the level of growth.  In the next few paragraphs, I will attempt to look at the major changes that happened with Shirtcraft as well as look at the company’s unique organizational structure.

When the company incorporated in 2009, they needed to make some changes in the way they were managed when the goal was mainly as a hobby. It was great to maintain the good old things like, “buy quality material and sell quality shirts”.  However, since they were now selling to larger market, it was necessary for them to reevaluate the pricing strategy to ensure it was profitable.  The fact that they still maintained the old bargain purchase strategy that seemed to work well at the time, does not  mean it was always going to be the most financially prudent strategy. No wonder the bankers were getting a little worried. The proposed strategy in the plan might prove to serve the company well.  The company might have a cost savings in the inventory holding cost and get improved contribution margin by consistently meeting customer demands and earn the associated goodwill.

Even with the proposed new plan, I see that the company can do more in terms of the having proper financial systems that include controls.  We learnt that by 2015, there were already 75 employees in the payroll. This is surely a big jump in labor cost that needs proper cash management to keep them on the payroll. The company needs to have qualified experience staff to manage the financial aspect of the business. Budgeting is a great tool that would have helped the company understand its actual cost per unit of its shirts. This way, it can charge a reasonable price that will cover cost and make a profit.  With the $550,000 interest payment per year, expenses of $750,000 and the proposed incentive pay as well as the fixed production of $240,000, it means the company needs to make profits to cover these costs. Becker 2019, B4-49 describes budget as “A tool that translate the strategic plan and implementation into a period specific operational guide”.  With this tool, the company can plan, estimate revenue, anticipate possible shortfalls in cash and reevaluate plans by comparing actuals with budget and investigate variances.

Finally, with the new plan, if implement properly as well as getting qualified personnel to manage the financial and administrative areas, the company would be able to change the outlook.  The good news is demand for the company’s product remain intact. This is a great.

References:

Becker Professional Education (2018) CPA Exams Review-Business

Haka, S.F; Williams, J.R; Carcello J.V (2017) Financial and Managerial Accounting. 18th Edition. McGraw-Hill Education

Zimmerman, J. (2016) Accounting for Decision Making and Control. Ninth Edition McGraw-Hill Education

Module 2 EBM Reply post (2 200-word posts)

· Choose two (2)  students that you agree or disagree with and reply to them. Posts must contain thought provoking and analytical observations ; contributions embedded with academic literature and a list of references are encouraged.

Student #1 – Benjamin

The business world has become more complexed with rapid change more prevalent due to evolving technology that changes the nature of competition, advertising, and product development. “Prior to the 21st century, major market shifts were rare and gradual, but today disruptive innovations are as reliable as the changing of the seasons (Watson, 2018).  Since the only constant is change, a solid, simple process must be well established to ensure personnel are prepared to make adjustments and move forward.  Managers must first understand the reason and importance the change will bring along with the best method to deliver the update to subordinates. Major changes require more preparation and research to ensure all key responses are known before rolling out to employees. There are always change effects executives and managers are not fully aware of; however, employees require management to think through change and demonstrate have thrived by positioning themselves on the leading edge of innovation. Effectively managing the workplace within means not fearing or resisting change and challenges, but empowering management and employees with the necessary skills to effectively manage life changes. Strategically preparing managers and employees catalyzes better organizational performance – regardless of what changes you might face (Covi, 2016) .

               Apple and Microsoft are two of the most innovative and successful international companies. While they both are on the leading edge of change, Apple has been known as the flagship company for producing highly anticipated products through creative reveals. Steve Jobs was the face of the technology giant for many years and was the creative spark that lead the company’s change. Jobs was an autocratic leader who expected all key changes and policies to be passed to him form approval. Jobs’s successor, Tim Cook, has decentralized leadership and change management responsibilities throughout the organization. Both methods are successful since all change management going through a single leader ensures vision alignment; however, it serves to frustrate subordinate leaders since it removes their decision-making ability. Microsoft has historically struggled to manage rapid, major change but has certainly improved this shortfall over the past five years. This was predominantly accomplished through the investment in providing employee transparency and eliciting employee feedback. Bill Gates summarized the need for a transition to Nadella (Microsoft CEO): “When your business is healthy, it is difficult to behave as if you are in a crisis. That is why one of the toughest parts of managing, especially in a high-tech business, is to recognize the need for change and make it while you have a chance” (Daniel Lock Consulting, 2014).

References:

Covi, I. (2016, April 16). Coping with Change in the Workplace. Retrieved from: https://www.business    

            knowhow.com/manage/leadwithin.htm

Daniel Lock Consulting. (2014, February 11). Change Management Lessons from Microsoft and Apple [Case Study]. 

             Retrieved from: https://daniellock.com/change-management-lessons-from-microsoft-and-apple/

Denning, S. (2019, March 17). How Mapping The Agile Transformation Journey Points The Way To Continuous Innovation. 

              Retrieved from Forbes: https://www.forbes.com/sites/ stevedenning/2019/03/17/how-mapping-the-agile-

               transformation-journey-points-the-way-to-continuous-innovation/#7207dd0d4b24

Texas A&M University. (2016, April 25). Change Is Constant in a Business Environment. Retrieved from https://online. 

               tamucc.edu/articles/change-is-constant-in-a-business-environment.aspx

Watson, S. (2018, December 12). Organizational Change: In The Business World, Adapting Is Surviving. Retrieved from: 

               https://chiefexecutive.net/organizational-change-in-the-business-world-adapting-is-surviving/

Student # 2- matthew

There are many methods that companies can use to assist their employees cope with change. One is addressing the “why” or need to change in the first place. Often times when employees understand the need they find it easier to digest the reason and will adjust at a quicker pace than if they had no idea why the company decided to change. Change is unavoidable and sometimes it’s within our control but most of the time it’s not. According to an article on Harvard Business Review “how to get better at dealing with change” there are five ways to adapt to change and take advantage of it. One is to find the humor in the situation, humor can lighten the mood and improve social interaction as long as it’s inclusive and respectful. Two is to talk about problems more than feelings, meaning to zero in on the problems you can solve. Often times we find ourselves complaining about aspects of change that are just out of our control therefore wasting time and effort on those areas, research has shown that actively and repeatedly broadcasting negative emotions hinders our natural adaptation processes. Three don’t stress out about stressing out, our belief about stress matters and how we perceive stress will be how our bodies react to stress in general. If we perceive stress as a negative then it will be negative and we will have a harder time with it on the flip side if we believe stress is a way to overcome obstacles then you’ll become more resilient. Four is to focus on your values instead of your fears, in short realize that our personal identity can’t be compromised by one challenging situation. Five accept the past but fight for the future, we are always free to decide how we respond to change. The organization I choose that is always changing is the Air Force, mainly because I feel we don’t adapt to change like we think we do. The military has an advantage when it comes to change because change can be forced but recently we have found ourselves questioning whether or not we are doing it the right way. Over the course of my eighteen-year career I have seen change from the uniform, retainability, promotions to how we implement change. I will say that change is necessary and if implemented with care the benefits will be more than anyone could anticipate, but from personal experience I will tell you that the need to change isn’t always explained and is often disregarded. In the beginning I felt that the reason for this was because we really didn’t have a choice therefore the was no reason to explain the why to the lower tier. Now that I have climbed the ranks my perspective has changed and I believe leadership doesn’t know how to articulate the why. If we spent more time investing in explaining the why/need for change I believe that we could reduce the uneasiness of change and cope with the change itself.

References:

https://hbr.org/2016/09/how-to-get-better-at-dealing-with-change

EBM Module 3 Task 3

Design a 2 day training for employees following a merger or acquisition.

· Write measurable outcomes (3)

· Design 5 interactive, engaging activities to help employees:

· Get in touch with their innovative, creative side and encourage team building.

· Understand the new culture and corporate structure.

· Allow employees to participate in brainstorm ideas on enhancing their role in making the company successful.

· Develop a way to evaluate the training and measure employee learning.

EBM Discuss 3 – 500 words

Leading people in organizations through change initiatives requires a systemic effort. Developing a compelling change picture, communicating this picture to all stakeholders, conducting a comprehensive ‘roadblock analysis’, removing the ‘roadblocks’, and implementing the change, are all critical steps for a successful organizational change management initiative.

List and discuss examples of successful organizations that went through a change process by adopting the steps above.  In your opinion, what was the ‘formula’ for their success? You can use organizations selected from the academic literature or organizations that you are familiar with.

EBM Lesson 3

In the previous week you researched different training methods companies use to educate employees about a change initiative.  This week we are going to look at learning styles and delivery methods.

Research "learning styles" and list five different learning styles.  What defines each and what are the strengths and weaknesses of each?

Next, consider delivery methods (i.e. in person, online, hybrid, etc).  Again, consider the advantages and disadvantages of each.  

Taken together, consider how you could use different delivery methods to accommodate the widest range of learning styles within the organization you're helping.  What would you choose and why?