Mini strategy
lbrdy0
mini_strategy.pptxSKS ACCOUNTING AND CONSULTING FIRM, INC.
Alisa Brady
STR 581
May 30, 2016
Dr. Sidney Morse
Introduction
SKS Accounting and Consulting Firm, Inc. is a locality owned and operated full service accounting and consulting firm.
SKS was formed in 1999 in the home of the CEO Kena Samuels Stith.
SKS provide business solutions, accounting, payroll and tax services.
SKS Accounting and Consulting Firm, Inc. is a locality owned and operated minority full service accounting and consulting firm. SKS was began October 1, 1999 in the home of the CEO, Kena Samuels Stith. SKS provides business solutions, accounting, payroll and tax services. (Stith, SKS Accounting and Consulting Firm, Inc, 2016)
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Vision Statement
SKS is driven to help clients achieve their dreams of owning their on business.
SKS prides itself on producing high quality professional services at an affordable price for customers.
SKS is dedicated to its customers and employees.
SKS Accounting and Consulting Firm, Inc. is driven by its ability to take a client’s dream and then bring it to fruition. SKS Accounting and Consulting Firm, Inc. prides itself on producing high quality professional services at an affordable price for customers. SKS is dedicated to its customers and employees. (Stith, SKS Accounting and Consulting Firm, Inc, 2016)
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Current Goals and Objectives
Increase sales for all divisions at a controlled growth rate
Invest more in technology to provide better customer service
To increase the managed service provider division
To become one of the top accounting firms in Kentucky
According to CEO, Kena Samuels Stith, an increase in sales for all divisions at a controlled growth rate. To invest in more technology to provide even better customer service. The become an independent managed service provider and to become one of the top accounting firms in Kentucky. (Stith, 2016)
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Current Status
Leadership – Kena Samuels Stith, CEO
Board Members – Management Team, VP of Operations, Nicole Downs and Controller, Alisa Brady
Structure – is a privately held corporation
Number of Employees – 12 regular employees and 20 seasonal
Leadership – CEO, Kena Samuels Stith
SKS does not have a Board of Director. The Management Team is made up of the CEO, VP of Operations and the Controller
The business structure is a privately held corporation. The number of regular employees is 12 and seasonal employees 20. (Stith, 2016)
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SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
The strengths for SKS is the knowledge of its employees, the affordable pricing and the quality of work.
The weaknesses are the need for more sales personnel and the micro management style of the CEO.
The opportunities for SKS are the Entertainment Industry, the increase of Estate and Trust for taxes, and the joint venture of the managed service provider.
The threats are the retention of critical employees and the new entrants in the industry at even lower prices.
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Financial Results
Annual Revenues $787,368
Annual After Tax Earnings $38,352
The annual revenues for SKS Accounting and Consulting Firm, Inc. over the past 5 years are $787,368.
The annual after tax earnings are $38,352. (Stith, 2016)
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Competitor Benchmarking
SKS uses the marketing materials provided by our tax refund bank to help analysis the pricing for tax returns. SKS is currently minimally under the National Average.
SKS has CPA mentors that help calculate and analysis the quality of work and pricing.
SKS uses the marketing materials provided by our tax refund bank to help analysis the pricing for tax returns. SKS is currently minimally under the National Average.
SKS has CPA mentors that help calculate and analysis the quality of work and pricing. (Stith, 2016)
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Recommendations For Growth
Cross training employees to promote advancement among workers
Working with employees strengths to help streamline work
Offer more incentives to help maintain critical employees
Cross training employees to promote advancement among workers
Working with employees strengths to help streamline work
Offer more incentives to help maintain critical employees
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CEO, Kena Samuels Stith
Background
The CEO and owner of SKS Accounting and Consulting Firm, Inc. is Kena Samuels Stith
The CEO believes in excellent customer service, continued improvements and leading by example.
Education and Experience
1989 – 1992 BA from the University of Louisville
Staff Accountant for Budget Car Rentals from 1995 - 1999
The CEO and owner of SKS Accounting and Consulting Firm, Inc. is Kena Samuels Stith
The CEO believes in excellent customer service, continued improvements and leading by example. (Stith, 2016)
The CEO attended the University of Louisville receiving a BA in Administration with a Concentration in Accounting
She worked for Budget Car Rentals as a Staff Accountant before stepping out on faith to begin SKS. (Wayne, 2015)
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CEO and SKS Accomplishments
2005 Kena Samuels Stith was appointed by Governor Ernie Fletcher to the Gas System Restoration Project Review Board
2015 Kena Samuels Stith received the Distinguished Service Award from the Women’s Business Center of Kentucky
2005 and 2007 SKS Accounting and Consulting Firm, Inc. was the recipient of the Kentucky Minority Business Council’s MBE Supplier of the year award
2006 SKS Tax Service Preferred Tax Professional Award and was rated Number 2 in Louisville’s Business First
2015 SKS Tax Services received the Top 500 Professional Award from Intuit
2005 Kena Samuels Stith was appointed by Governor Ernie Fletcher to the Gas System Restoration Project Review Board
2015 Kena Samuels Stith received the Distinguished Service Award from the Women’s Business Center of Kentucky
2005 and 2007 SKS Accounting and Consulting Firm, Inc. was the recipient of the Kentucky Minority Business Council’s MBE Supplier of the year award
2006 SKS Tax Service Preferred Tax Professional Award and was rated Number 2 in Louisville’s Business First
2015 SKS Tax Services received the Top 500 Professional Award from Intuit (Wayne, 2015)
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Leadership and Management Styles
CEO believes that leading by example and micromanaging helps keep employees accountable
She believes in excellent customer service: She believes communication is the key
She believes that teamwork makes the dream work
CEO believes that leading by example and micromanaging helps keep employees accountable. She believes in excellent customer service and that communication is the kye. She believes that teamwork makes the dream work. (Stith, 2016)
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Vision for the Company
Reducing the company debt
Offering more incentives for the employees
Innovative Accomplishments
2013 – 2016, Developing the accounting portion of the Managed Service Provider for the Joint Venture
According to the CEO, she wants to reduce the company debt and offer more incentives to the employees in the form of trips an retreats.
The Innovative Accomplishment is the development of the accounting portion of the managed service provider joint venture. (Stith, 2016)
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References
Stith, K. S. (2016, May 28). Mini Strategy. (A. V. Brady, Interviewer)
Stith, K. S. (2016, May 28). SKS Accounting and Consulting Firm, Inc. Retrieved from
SKS Accounting and Consulting Firm, Inc: www.sksfirm.com
Wayne, T. K. (2015, May 13). Kena Samuels Stith Bio. Louisville, Kentucky.
