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MASTERPIECE2019

Why It Is Best To Have Six Or Less Life-cycle Phases In An EPM System?

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Course: Global Management Perspective and Information Systems

Topic: Seven Short Essays (W8-Chi-NN) on Global Management Perspective and Information Systems

Assignments in this course will focus on global management perspective. It will examine issues and functions that business managers face within the context of day-to-day operations and long-term planning of the organization. It will also deal with how you can apply technology to aid global business operations. Your writing should consider issues related to strategic management, legal issues, marketing, law and ethics, and global dimensions of businesses.

Total Pages 6 (Double-spaced, excluding Reference Page). All citations are to be listed at the end of the paper.

 

Part 1

Pages 4 (Double-spaced). All citations are to be listed only at the end of the paper.

 

Please answer the following five questions (Q1, Q2, Q3, Q4 and Q5). Write a separate short Intro and conclusion for each section.

Q1 (225 Words; 2 APA citations, including Gaspar et al (2014), plus an Academic Journal, published not more than 5 years ago).

Question 1:

Describe the product life cycle as a useful tool for managing products after they have been introduced to foreign markets.

 

Q2 (225 Words; 2 APA citations, including Gaspar et al (2014), plus an Academic Journal, published not more than 5 years ago).

Question 2:

Describe the three major markets within each foreign market that can purchase products using examples for each.

 

Q3 (225 Words; 2 APA citations, including Gaspar et al (2014), plus an Academic Journal, published not more than 5 years ago).

Question 3:

Explain how financial statement analysis can be used to evaluate a company’s financial situation.

 

Q4 (225 Words; 2 APA citations, including Gaspar et al (2014), plus an Academic Journal, published not more than 5 years ago).

Question 4:

Differentiate between transaction and translation risks. Explain how these risks affect firms and investors.

 

Q5 (225 Words; 2 APA citations, including Gaspar et al (2014), plus an Academic Journal, published not more than 5 years ago).

Question 5:

Describe the most important reports produced by the accounting information system.

 

Part 2

Pages 1 (Double-spaced). All citations are to be listed only at the end of the paper.

(275 Words; 3 APA citations, including Gaspar et al (2014), plus 2 Academic Journals, published not more than 5 years ago).

Write a separate short Intro and conclusion for this section.

You have learned about accounting and taxation in global business; management accounting and financial accounting principles topics, which include the differences between U.S. generally accepted accounting principles (GAAP) and international GAAP, as well as international financial reporting standards. You also learned about the role of auditing and the Sarbanes-Oxley act, financial statement analysis, and global tax matters. Now you can compute business functions and processes in an organization. You can also justify the use of financial accounting information in making informed and ethical business decisions.

Q6 (275 Words; 3 APA citations, including Gaspar et al (2014), plus 2 Academic Journals, published not more than 5 years ago)

Question 6:

 

In 275 words (about 1 double spaced page), state which concepts or topics about accounting and taxation in global business presented above was most important to you? How will overall learning in global business benefit your personal and/or professional development? What did you find most beneficial about learning about global business in general?

Part 3 – Product Review of Treeno’s Electronic Document Management Solution for Universities and Colleges.

 

Pages 1 (Double-spaced). All citations are to be listed only at the end of the paper.

(275 Words; 3 APA citations, including Laudon & Laudon (2016), plus 2 Academic Journals, published not more than 5 years ago).

You’ll also write a separate short Intro and conclusion for this section.

This part is a little different from Parts 1 and 2 above. This part is about an Information Technology tool, which you have identified as being helpful to your business, which provides academic and accounts records management services to universities in West Africa. You will also be citing a different text (Laudon & Laudon, 2016) instead of Gaspar et al (2014), plus 2 Academic Journals, published not more than 5 years ago).

(275 Words; 3 APA citations, including Laudon & Laudon (2016), plus 2 Academic Journals, published not more than 5 years ago).

Remember to write a separate short Intro and conclusion for this section.

This is a product review of an electronic records management software suit for universities and college called, “Treeno’s Electronic Document Management Solution” for universities and colleges.

The product has the following features that might be desirable for universities in West Africa:

  • Gift/endowment funds management
  • Students’ application and enrollment management
  • Student, professor and faculty portfolio management
  • Transcript management
  • Performance review management
  • Audit financials
  • Application integration with student information, financial, and human resource software

For more information about this product, see http://www.treenosoftware.com/industry-solutions-higher-education.html

Your task is to do the following:

In 275 Words:

  1. Discuss why you chose this particular tool – “Treeno’s Electronic Document Management Solution” for universities and colleges and not a competing product, give at least one an example of an alternative product.
  2. Discuss the pros and cons of this tool in global IT businesses today

References

 

11 Sources, as follows, listed at the end of the paper.

Gaspar, J., Arreola-Risa, A., Bierman, L., Hise, R., Kolari, J., & Smith, L. (2014). Introduction to global business: Understanding the international environment and global business functions (1st ed.). Mason, OH: South-Western.

(Be sure to cite this source for Questions 1-6 in Parts 1 & 2. Don’t cite it for Part 3)

Laudon, J., Laudon, K. (2016). Management Information Systems: Managing the Digital Firm (14th edition). Boston, MA. Pearson Education.

(Be sure to cite this source for 7 only in Parts 3. Don’t cite it for Parts 1 & 2)

 

Plus,

9 Sources from Academic Journals, published not more than 5 years ago (1 each for each of Questions 1 – 5 in Part 1, and 2 sources for each of Questions 6 and 7 in Parts 2 and 3)

Global Management Perspectives and Information Systems

Name

Institution

Global Management Perspectives and Information Systems

Part 1

Question 1

A product life cycle shows the stages in which a product goes through from the time it is introduced in the market to the time it leaves the market. This process is known to as the cradle to grave process. Apparently, there are four main stages in which products go through, that is, the introduction stage, the growth stage, the maturity stage and the decline stage (Gaspar et al., 2014). Understanding the product life cycle is crucial for any organization that wants to introduce a product in a foreign market since it will be able to help the management to predict possible outcomes in the promotion stages of the product (Sitkin & Bowen, 2013). Besides, understanding the product life cycle of a commodity will help the management be able to come up with a timely competitive advantage against companies within the same industry in that foreign market. According to Sitkin & Bowen (2013), the life cycle of a product sheds some light on various selling aspects of merchandise. Ideally, the data obtained from a newly introduced product would help the management determine the trends of that product and know how to improve its sales (Madura, 2011).

Question 2

The three primary markets in each foreign market comprise the consumer, the industrial and the government market. The consumer market involves the demand for goods and services within the foreign market (Gaspar et al., 2014). Apparently, the flow of goods and services is influenced by the market forces of demand and supply. If the demand for those goods is low, then companies would be restricted to supply a less quantity. However, when the demand is high, suppliers will often supply a higher quantity than budgeted. Since the consumer market determines the demand for goods, it acts as a catalyst for the GDP and basic needs of foreign markets. Ideally, the consumer market can be broken down into characteristics, that is, age, education, and income. An example would include the print media industry where media companies print magazines that are tailored to people of the same interests (Mura & Gašparíková, 2014).

The industry market deals with the production and sale of goods and services (Gaspar et al., 2014). Here, businesses buy raw materials in bulk to take advantage of bulk discounts and later use these raw materials to make finished goods for resale. An example would be the sale of computer components such as a mouse and keyboard that would be needed to build laptops for final resell (Mura & Gašparíková, 2014).

The government market comprises of the federal, the state and the local government whose main aim is to tax businesses and offer subsidies to business (Gaspar et al., 2014). Besides, they enact laws that govern the operations of corporations. Additionally, they purchase goods from the industrial market to be used in the public sectors. An example would be the United States Defense Department who purchase fighter jets for the military (Mura & Gašparíková, 2014).

Question 3

Several ways in which financial statements can be used to evaluate the financial situation of a company (Bruce-Twum & Mensah, 2015). First, by using financial ratios, an analyst would be in a position to determine whether the firm has the ability to pay its short-term obligations when they fall due or not, whether the corporation is profitable or not, whether the company will be able to continue in a going concern or not, whether the firm is funded by more debt than equity and an investor’s perspective of the company, thus make a conclusion of whether the business is performing well or not (Gaspar et al., 2014).

Second, using financial statements, an analyst will be in a position to perform a horizontal and vertical analysis (Gaspar et al., 2014). Apparently, the horizontal and vertical analysis of financial statements allows one to depict the trend of the financial statements. Here, one would be able to determine whether the company is healthy or not and thus assess the financial situation of the company.

Lastly, using the financial statements, an investor would be able to gain an understanding of whether to invest in a corporation or not (Gaspar et al., 2014. Here, he would use capital budgeting techniques such as NPV, IRR and payback period to determine whether the company is a worthwhile investment to invest in. Apparently, if the NPV is positive and if the IRR is higher than the discounting rate, the investment is worth to spend in.

Question 4

Transaction risk is the risk the relevant foreign exchange risk will fluctuate unfavorably during this time lag, thus resulting in losses for the company while translation risk is the risk that the assets, liabilities, shareholders’ equity and income of the company will change in value due to a change in the foreign exchange rate (Ahmed, 2015). These two types of risks are bound to affect businesses and investors. First, the two risks are likely to lead to losses for companies and investors in that the businesses and investors would anticipate more from the exchange but due to fluctuation of the exchange rate, they may not be sure of the amount they would receive, and this may eventually lead to losses (Gaspar et al., 2014).

Second, the translation risk will likely result in unfavorable equivalent home currency values for the assets and liabilities (Gaspar et al., 2014. Due to fluctuation in the foreign exchange rate, the value of the assets, liabilities, equities, and income of a company are bound to fluctuate as well, and this may lead to unfavorable equivalent home currency values for the assets, liabilities, equities, and incomes. Lastly, transaction risk is likely to result in fewer cash flows for the business and investors in that since the business or investor has committed cash flows, uncertainty may lead to losses, thus decreasing the cash flows.

Question 5

The primary reports generated by companies include profit and loss statement, statement of comprehensive income, statement of financial position, statement of changes in equity and statement of cash flows (Mardini, Crawford & Power, 2015). First, the profits and loss statement also known as the income statement summarizes the revenues, costs, and expenses of the business during its production activity (Gaspar et al., 2014). Here, only revenues and expenses related to manufacturing or production are to be included. Second, the statement of comprehensive income depicts any other income that the business may have realized during its production process that may not have been included in the profit and loss statement (Gaspar et al., 2014).

Third, the statement of financial position also known as the balance sheet shows the assets, liabilities and shareholders’ equity of the corporation during a given fiscal year (Gaspar et al., 2014). Fourth, the statement of changes in equity presents the profit and loss of an entity during the reporting period, any items of expenses or incomes that were recognized in the comprehensive income, any effects in accounting policies and correction of errors that were found in the other financial statements. It shows a step to step detail of what comprises the items of the shareholders’ equity. Lastly, the statement of cash flows shows the cash inflows and the cash outflows of the business. Here, only items that realize cash or items that pay out cash are to be recognized.

Part 2

Question 6

Various accounting and taxation principles have had a huge impact on my life. The concepts or topics about accounting and taxation that were most important to me were differentiating Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), determining the role of auditing and the Sarbanes-Oxley Act and financial statement analysis (Lubbe, Modack & Watson, 2014). First, differentiating between GAAP and IFRS was vital since it helped me understand the different ways of reporting financial statement items under different rules and principles (Gaspar et al., 2014). Second, understanding the role of auditing and the Sarbanes-Oxley Act was important since it helped me understand how an investor would be protected in case of fraudulent accounting activities. Lastly, conducting a financial statement analysis was important since it helped me understand whether a company was performing well or not.

My overall learning in global business is likely to benefit my personal or professional development in that I will be able to gain a broad understanding of how the global business operates (Gaspar et al., 2014). In general, the most beneficial thing I found is that companies are governed by rules, regulations, practices, and standards. They, therefore, need to follow these rules for easier comparability. In conclusion, these aspects of accounting and taxation have impacted me significantly as depicted above.

Part 3

Question 7

Treeno’s Electronic Document Management Solution is an electronic records management software that allows users and companies to manage gifts, endowment funds, that will enable schools to maintain students’ applications and enrollment, faculty portfolios, transcripts, performance review and audit financial statements (Laudon & Laudon, 2016). The reason why I chose this particular tool is that it has the opportunity to perform all the operations of a university or a college and thus it would ease the operations of the management. I did not choose the eFile Cabinet, despite it having 100% user satisfaction since it does not perform all the operations that are performed by the Treeno’s Electronic Document Management Solution (Al Shobaki & Naser, 2016).

The advantages of this tool in global IT businesses today is that it enables Universities to perform all their operations in one, thus easing report preparation (Al-Mamary, Shamsuddin & Abdul Hamid, 2013). However, this tool is prone to security attacks, and it may leak the confidential information of Universities and Colleges.

References

Ahmed, L. (2015). The effect of foreign exchange exposure on the financial performance of commercial banks in Kenya. International journal of scientific and research publications5(11), 115-120. [Accessed on 25th October 2017].

Al-Mamary, Y. H., Shamsuddin, A., & Abdul Hamid, N. A. (2013). The impact of management information systems adoption in managerial decision making: A review. Management Information Systems8(4), 010-017. [Accessed on 25th October 2017].

Al Shobaki, M. J., & Naser, S. S. A. (2016). Performance development and its relationship to demographic variables among users of computerized management information systems in Gaza Electricity Distribution Company. [Accessed on 25th October 2017].

Bruce-Twum, E., & Mensah, C. C. (2015). Financial Statement Analysis. [Accessed on 25th October 2017].

Gaspar, J., Arreola-Risa, A., Bierman, L., Hise, R., Kolari, J., & Smith, L. (2014). Introduction to global business: Understanding the international environment and global business functions (1st ed.). Mason, OH: South-Western. [Accessed on 25th October 2017].

Laudon, J., & Laudon, K. (2016). Management Information Systems: Managing the Digital Firm (14th edition). Boston, MA. Pearson Education. [Accessed on 25th October 2017].

Lubbe, I., Modack, G., & Watson, A. (2014). Financial Accounting GAAP Principles. OUP Catalogue. [Accessed on 25th October 2017].

Madura, J. (2011). International financial management. Cengage Learning. [Accessed on 25th October 2017].

Mardini, G. H., Crawford, L., & Power, D. M. (2015). Perceptions of external auditors, preparers, and users of financial statements about the adoption of IFRS 8: Evidence from Jordan. Journal of Applied Accounting Research16(1), 2-27. [Accessed on 25th October 2017].

Mura, L., & Gašparíková, V. (2014). Penetration of small and medium-sized food companies on foreign markets. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis58(3), 157-164. [Accessed on 25th October 2017].

Sitkin, A., & Bowen, N. (2013). International business: challenges and choices. Oxford University Press. [Accessed on 25th October 2017].