5.1.1 Financial Resources
The financial resources of a business incorporate all the internal and external financial assets (e.g. capital, cash, bonds/securities, credits, etc.) possessed and utilized by a firm. They are the most essential and adaptable resources of the firm, and can be converted over into different resources. Transforming over different resources into financial resources is not so much certain but rather more difficult. Moreover, The financial accessible to a firm for expenditure as credit lines, cash and liquid securities. Before starting a new firm, a businessperson must have to secure adequate financial resources, so as to have the capability to work productively and adequately well to support successful outcome.
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In 1999, the Mayar group of company entered to New Zealand as a commodity trader and log exporter to India, however, the operation was unsuccessful due to price sensitive market and weak competitive advantage caused by lack of product adaptability in India and incompetent human resource. Then, re-entered in the industry in 2012 with the new business management and strategy, however it failed again because of lack of credibility. A year later, Mr. Satinder Mohan Signh was hired as country manager of ANZL and created a new business strategy in order to establish a sustainable competitive advantage of the company. Because of his wide-range experience and knowledge in the log export industry, the ANZL is now gaining sustainable competitive advantage in the market. In addition to that, company is continuously growing as a matter of fact planning to target China as new segment market.
6 Marketing Assets
Marketing assets includes distribution penetration, marketing expertise, market positioning, market knowledge, customer loyalty, brand name, reputation and relationship with distribution channels. The two critical marketing assets that ANZL has are the following:
6.1
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Just build your company reputation in your new international market and then leverage it, when you look to grow your sales. (Rogers. B. 2012).
A bad reputation can give reasons to a customer/buyer not to patronize a firm’s business, thus it results weakening of competitive advantage and declining the company’s sustainable profitability. In the forestry industry (log export), building a great reputation as always been challenging for companies because of the wrong perception of the people about logging. So, to address that wrong perception the company should achieve license to operate, visibly environmental sustainability projects, prevention of negative media visibility, prevention of conflicts with the government and stakeholders, active reshaping of market conditions and overcoming less active competitors.
The ANZL reputation to its stakeholders has been stable because first it has a license to operate in the industry, they managed media negative inputs, has a rapid growth of market share in India and environmental sustainability support. 6.2 Supply
those that concentrate on financial management capability, financial resources, financial management skills, performance, and eatery business. Financial Management Capability The capability research of the firm encompasses a broad group of scholarship built on the combined basis of partly overlapping theoretical frameworks. It ranges from the resource- based views and knowledge-based views (Wu, Y., 2011). In the knowledge-based views, viewing knowledge as the core resource of a firm, capabilities
( )( )( ) “A financial statement represents a formal report, showing records of financial activities of an entity at the end of an accounting period, in order to review the financial strength and performance of the entity. Where it summarizes the accounting process and reflects the financial effects of a business’s transactions, and the financial position of a business during a particular period of time. Furthermore it serves as the main method of communicating financial information about decisions
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finally working towards my AAS in Business and I would like to increase my accounting knowledge and increase my opportunity for advancement in my secular job, by specializing in human resources and eventually managerial accounting. Advancing my knowledge in the accounting field seems to be the most logical fit for me. I work
scorecard to weigh performance against the enterprise’s strategic components. The human resources (HR) balanced scorecard will have to determine if the internal performance meets the firm’s strategic plan and mission. In the following describes what a balanced scorecard means to an organization and HR, and what the HR balanced scorecard will assess for Best Buy. The Balanced Scorecard: In the Organization and Human Resources The Organization Organizations use balanced scorecards as a measurement tool to
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Research, 2014). In reviewing the literature on Small business owners, I would say that the business strategies are different in large companies than small business owners. Specifically, financial planners are trained to provide planning services. The training is rigorous and focused on technical expertise but does not include marketing techniques or business operations. According to Luca & Cazan (2011), individuals who attempt to start a business without sufficient skills suffer a high risk of failure
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Introduction Financial globalization and integration of financial markets has become one of the most discussed topics in society. The reason of this is rapid changes that have occurred in the world economy over the past decade. The ongoing global economic crisis, which showed another face of financial globalization, forced to pay attention to this phenomenon. Indeed, despite the fact that this phenomenon is generally accepted in the science, there are still major differences in the definition of
Accounting Cycle and Enterprise Resource Planning By: Jessica Skrdlant April, 2015 Bellevue University AC 645 Accounting Information Systems Professor McElhaney Executive Summary The accounting cycle is the critical cycle for recording and controlling of the financial aspects of the corporation. This cycle includes transactions, journal entries, posting, trial balance, adjusting trail balance, closing of books and financial statement preparations. These statements are a requirement when the company
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