Financial Statements for Internal Reporting Purposes vs. Financial Statements for External Reporting Purposes It is common in most companies to maintain two set of financial statements; one being used/presented for internal reporting purposes and another for reporting externally. Internal reports are used primarily to aid management in the decision making process throughout the course of the business. These are subject to internal audit to make sure that all information reported are fair and correct
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Julieta G. Manzano MM 240 Six Sigma at 3M‚ Inc. Brief Summary of the Case: When James McNerndy was announced the Chairman and Chief Executive of 3M‚ Inc. his top priority is to implement Six Sigma in the company as he envision this as the solution to the lagging profit of the company. His first step is to training hundreds of his senior executives to lead the implementation and train the middle management as well. The current Director of Six Sigma Operations‚ Jeanne O’Connell had mentioned four
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cornerstone of the community itself. However‚ there have been certain situations where these values have not been held to the utmost attention‚ and‚ as an example‚ I will be using the town meeting in which the BSU‚ collaborating with the Environmental Club‚ showed their Environmental Racism presentation. During this presentation‚ there were many people who were being disrespectful‚ and this could be noticed through evident bursts of laughter in que with certain slides of the presentation. Much of disrespect
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company----3M. 3M is a manufacturing company that has a long history‚ it has a series of well-known products and brands. The first part of the paper will identify and discuss three issues in the case study of 3M‚ which intrigues me the most. In the next part of the paper‚ the creative innovation method used in 3M will be hypothetically applied to an electronic company in Hong Kong; the difficulty that might be confronted will be discussed. In the last part of the paper‚ the method of 3M will be applied
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Running Head: EXTERNAL ANALYSIS OF APPLE‚ INC. APPLE‚ INC. External Analysis of Apple‚ Inc. Aaron Nance‚ Jeanette Odetola‚ Zuaibar Rashid‚ and Rachel Rozo Strategic Management MGMT 4340 FALL 2012 Dr. Uche Nwaubeze University of Houston‚ Victoria TABLE OF CONTENTS 1. EXECUTIVE SUMMARY……………………………………………………………….. 3 2. COMPANY HISTORY…………………………………………………………………... 2.1 Background…………………………………………………………………………. 2.2 Purpose of this study ……………………………………………………………… 3. EXTERNAL ANALYSIS ………………………………………………………………
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Analysis of the External Environment of Business The Technological Environment The external business environment consists of four elements‚ they are as follows: Political‚ Economic‚ Social and technological. It would be impossible to analyse the whole environment in one essay‚ I have therefore decided to focus my essay on the technological environment. I have chosen this area to focus on because as Palmer and Hartley point out‚ it is one area that is forcing immense change in the external business
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Innovation at 3M Corporation Case Summary 3M was and still is a worldwide leader in innovation. After a rough start in 1902‚ over decades‚ 3M enjoyed national and global growth as well as a reputation for remaining a hothouse of innovation. In the 1990’s‚ 3M was trying to move away from the incrementalism and it sought to change the mix of new products to truly create something new to the world‚ instead of line extensions‚ which typically had provided two out of three new-product sales dollars
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Introduction to Marketing II Assignment 1: Environmental Analysis BMW August 2012 Submitted by Susannah Hardy a1608392 Executive Summary Chosen Industry: The aim of this report is provide an overview of the macro and micro-environment of the operations of the BMW Group‚ specifically their operations in large-scale manufacturing of automobiles. Scope/Limitations: BMW Group is comprised of many segments‚ from bicycles‚ motorbikes and automobiles‚ as well as intangible products such as financial
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REVIEW OF ARTICLE USING EXTERNAL ENVIRONMENTAL SCANNING AND FORECASTING TO IMPROVE STRATEGIS PLANNING BY Joel D. Lapin The Community College of Baltimore County Journal of Applied Research in the Community College‚ Vol.11‚ No.2‚ Spring 2004‚ pg 105-113 Joel D. Lapin is a professor of Sociology at The Community College of Baltimore County (Maryland)‚ Catonsville Campus‚ and Vice President and lead consultant in external environmental scanning and forecasting for The Clements Group which
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The company I have chosen to do the external environment scan is Redbox. Redbox is in the movie rental business via self service kiosks. Redbox is wholly owned subsidiary of Coinstar Inc. Laws and Regulations: There are some specific laws and regulations under which the movie rental business like Redbox should operate. But due to the growing popularity of renting videos through mail‚ online and kiosks‚ most of these laws will probably have to change or modified to fit the new way of people
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