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Stock Repurchases File..
The article, Royal Dutch Shell Finally Delivers Big Stock Buyback, But Shares Break Support by Narayanan (2018), provides ...
Stock Repurchases File..
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W4 Org Leadership Group Project- Table Only
I need step 5 completed for this Group Project. The table to fill out is linked under that step. If for some reason it is ...
W4 Org Leadership Group Project- Table Only
I need step 5 completed for this Group Project. The table to fill out is linked under that step. If for some reason it is not working please let me know. It is important for you to read all the instructions before. I know it is a little weird to read so I will attach it labeled W4 Syllabus. I will also attach the grading rubric. You need to review this to make sure you don't do anything correctly. The instructor is strict. For the table please only use the leadership competencies that are listed in the W3 Leadership Competencies file and the one that says example. You need to use ONLY the sources I provide which will also be attached. Do not forget to include the reference page as well. I need atleast 5 different sources to be on the reference page, but the more the better.BMGT 365 - Team Deliverable #3 – Succession Planning for Biotech – Part TwoAPA FORMATPurpose:The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization's core values and leadership competencies.Skill Building: You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions. Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report.Outcomes Met With This Project: Use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skillsAssess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practicesCollaborate in teams utilizing effective communication techniquesDevelop individual awareness, style, and communication skills that enhances leadership skillsIntegrate and apply analytical principles and skills to make strategic decisionsThis project is the last of three group projects. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area. As a self-managed team, the following is the work for which team members are responsible: setting goalsdetermining roles and responsibilities for each team memberactively participating and communicating in the Group area of the classroomcompleting the agreed upon work prior to the deadlineresolving problems and issues among the team membersagreeing on a final product as a group (consensus decision making)submitting the final product into the Assignment Folder (all students will submit into the Assignment Folder)All students on the team will receive the same grade unless a member fails to participate or does not carry his or her weight in completing the project. These students will receive a zero or a reduced grade depending on the level of participation and contribution to the team project. Teams can consist of 2, 3 or 4 students but should not consists of more than four students. Team members are responsible for completing the project even if a team member does not fulfill his or her obligation of submitting the agreed upon work. The project cannot be completed individually and students cannot choose to create teams other than those created by the instructor. If a team member does not hear from any other member, it is important to reach out to the instructor. If the project is submitted after the due date, the Late Assignment policy is applicable. No extensions beyond the due date is given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Biotech. This Committee has been hard at work for months, planning the successor for Mr. Barney, and the rest of the executive team (largely positions occupied by the Barney family). They have assigned your group to complete the Succession Plan for five key leadership positions at Biotech. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Mr. Barney, the CEO, has stressed that if the right leader for a position does not exist already within Biotech, he would rather search for someone externally than to settle. Your Group has already analyzed these five leadership positions and presented a report to Mr. Barney about them. Now it is time to identify any internal candidates that may be suitable for these positions. The Committee has already interviewed five different individuals that have expressed an interest in furthering their careers at Biotech. All have leadership positions currently at different levels, and within different departments of Biotech. All have agreed to accept any leadership position assigned to them, and all are open to relocate. Instructions:Step 1: Course MaterialFor this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and are used to explain the 'why and how' of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally showing an understanding of the logical connections between the ideas presented in a case scenario, the course material and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected consistently supporting what is presented. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.Step 2: Review the Leadership Competencies Table Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement (You may also wish to review any feedback received by your Instructor about your Table.). Step 3: Review Upcoming Positions Review the five different upcoming positions for which your group has been tasked at filling and the leadership competencies you identified for each (You may also wish to review any feedback received by your Instructor about these competencies). Step 4: Read Profiles of Five Internal Candidates Read the profiles of the five internal candidates that have put themselves forward for leadership positions.Candidate 1 - Jackie Johnson – Current Position - Director of Purchasing Jackie Johnson currently works as Director of Purchasing and obtained this job right out serving in the military. She is a graduate of UMUC's business administration program. Johnson entered the interview room all smiles and with a firm handshake. The interviewer admitted to being impressed by the firm handshake and the constant eye contact throughout the interview. Johnson was very prepared to discuss her future with the company. She had completed extensive research on all four geographic divisions prior to the interview. Johnson had also spoken with current employees throughout Headquarters. Johnson indicated that, as Director of Purchasing, she had worked very hard to create a small business "subculture" within her department. She felt that her employees were empowered to make their own decisions, which freed her to think strategically about purchasing for Biotech. She admits that this "free-rein" approach to leadership has sometimes allowed her department to have missteps in distribution with divisions outside of North America. She has worked hard to overcome that image by altering her leadership style according to the situation or the employee she is dealing with. Her approach to leading is to look for leadership opportunities and encourage employees to act upon them, if possible. Johnson believes she is positive about the future and while she admits to only having worked in the purchasing department, she feels that she can bring a big picture perspective to the company, having worked with both suppliers and customers in purchasing. When asked about her risk tolerance, she replied, "I believe that is demonstrated in the small-business, entrepreneurial subculture I created in purchasing. At the end of the day, I'm more risk tolerant than cautious." Johnson said she sees herself as a transformational leader. She feels that good leadership is built on good relationships with followers. Relational theory seems to make the most sense to her for the 21st century because people make change work, and leading change is the future. Candidate 2 - Henrietta Higgins – Current Position – Assistant Director of Purchasing Henrietta currently works at Biotech Headquarters in the Purchasing Department. She is 28 years old with 3 years of college. Henrietta is a business administration major, and expects to graduate in about one year. She is friendly and has a quiet demeanor. She does not tolerate much nonsense from people, hates surprises, and wants people to be brief in talking with her. When asked what she likes about her current position, she replied that she likes the feeling of a small-business that her boss has created within the purchasing department. She appreciates that it makes her feel in control in such an environment. She likes the idea of the collaborative environment of Biotech and responded well to the idea that her opinions and suggestions were always welcome. However, she expressed some concern that the youthful employees of IT, and some other departments, had plenty of opinions but not a lot of discipline in their work ethic. She has found that structure, procedures and rules have worked better than asking for input. When asked how her staff perceived her, she laughed and said they called her a "Type A.". The interviewer noted that during this statement, it was only one of two times during the interview that she held his gaze for any length of time. When asked what characteristics she thought a leader needed to possess to succeed in the 21st century she replied, "…objective, practical, controlled and fair." Higgins said her leadership style was transactional but the interview was not sure if it was not more authoritarian. When asked what leadership theory she thought was most likely to work in the 21st century her reply was "Great Man, because it emphasizes the characteristics of a person like honesty and trust." Higgins's knowledge of the business was sound but when asked if anyone could be a leader she said no. It was up to the position that a person holds. Higgins did understand that sustainability was very important to the business. She said she had some ideas on how to make the process aspects of Biotech better and more efficient while saving cost. She also thought that being eco-friendly was important but realized that was the other meaning of the word sustainability in business. Candidate 3 – Mohammad Darvish – Current position – Marketing Manager, Homeopathic Division (Corporate Headquarters) Darvish currently manages the sales of the Homeopathic Division. He enjoys working with a customer until they are satisfied and regrets having to short change the time he spends with customers today. He also feels that the company culture has become more rigid over the past few years. When asked to elaborate he responded, "Folks are scared of making mistakes. If there has been anything I've been seeking to change in the homeopathic division, it's that it's okay to make mistakes, as long as we learn from them." When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…flexible, risk tolerant, insightful and honest." He liked the collaborative culture of Biotech and showed signs of having done his homework on the other divisions, particularly Asia. Biotech, he said, would do well if the company made sure that this division continued it existing culture because it encouraged creativity. When asked how he created followers among his employees, Darvish replied that he liked to use incentive motivational techniques and would sometimes empower workers if they demonstrated the ability to take risks. Darvish said he was sometimes a laisse-faire leader because it encouraged freedom of thinking. He said he would solve problems largely through "good teaming and collaboration". His said his favorite leadership theory was contingency theory because it allowed him to approach things by the situation. He liked to agree with people and saw himself as being flexible. When asked how he dealt with change, he replied, "In this business, if you're not changing, you're dying." Candidate 4 – Marg Simpson – Current position – Sales Director, Chicago OfficeMarg Simpson is 36 years old. She is a single mother of two. She was a nurse for 8 years before coming to work at Biotech in the marketing area of the sales division in Chicago. She has been working for the company for four years. Her immediate manager reported that Marg is highly motivated and competent at her job. Her manager said that Marg's biggest asset is that she "looked at challenges as opportunities and often found creative solutions to problems that others had not considered." Simpson's nursing years were spent at the University of Chicago in Orlando Park. Surrounded by a large Muslim community the hospital gave classes in Arabic and Simpson found it very useful in her work to attend Arabic classes. She learned not only how to carry on a conversation with non-English speaking patients but the names of many drugs and over-the-counter treatments. Simpson enjoyed her time in Orlando Park and found the culture of the families very compatible with her own ideas of family. When asked if she was risk tolerant or risk averse, she answered: "I occasionally reward risk taking in the work environment. I do not think poorly planned risk is wise, but sometimes you have to take a chance in sales. It is not for the faint-hearted. But at the end of the day, I'd describe myself more risk averse than tolerant." Having read about the opportunity through the Biotech's HR division website, Simpson was excited about the possibility of moving her career forward. When asked if she were to relocate to other regions, such as the Middle East, if it would present problems for her, she only said. "Initially, but if I plan things out well, surround myself with good people and learn about my clients I am sure I could overcome the cultural drawbacks to being a woman." While she describes herself as being very familiar with Muslim cultures, Simpson freely admits that she knows little about Europe or South America. She has read some information and thinks she could learn another language if she is given help and the time needed to learn. Simpson has many innovative ideas about increasing sales. Simpson's evaluations are superior and she works well with her team. Her colleagues suggest that she is flexible and a people-first person. Her eye contact is good and she comes off as being very authentic. She describes her leadership style as "a blend of situational and transformational" and describes herself as a relational leader. The interviewer noted that at times she seemed to be more future oriented in her comments and may need to worry more about the here and now when getting things done. Candidate 5 – Rafael Mendez – Current Position – Director of Sales, New Mexico Mendez currently is Director of the New Mexico sales division at Biotech. He was Biotech's top salesman before taking over the Director position. Mendez is 32 years old. A recent divorce from his wife has made him eager to make a change in his career. Mendez's wife was Brazilian. Mendez is fluent in Portuguese. When asked if he was open to moving outside of the United States, Mendez replied that he was "open to adventure." He had not traveled excessively but had gone to Brazil regularly with his wife when they were together. He was familiar with the problems of a developing country. Mendez enjoys working with customers and spends a lot of time with them making sure they are satisfied. Darvish enjoys Biotech's collaborative culture. He feels that one of the secrets to his own sales success is the ability to coordinate with other departments within Biotech, including purchasing, IT, R&D, and HR. As part of his 360-degree performance appraisal, his team gave him glowing reviews. He got equally high ratings from the more senior (Baby Boomer) salespeople on his team as the younger (millennial) salespeople. When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…you need to be a good listener, first and foremost." He felt a good leader should change rapidly in a crisis and should be direct and assertive when dealing with people. When asked about the idea of competitive edge he said "A leader has to worry about making money every day. It is important to have immediate results for all to see especially in sales. Even customers prefer to deal with successful sales people than those that plod along." Mendez believes he could do well in another country if the company ensured he received language and cultural training. He knew that understanding how people thought about business and their products was important but more likely the sale would be clinched if he knew what was and wasn't good in the country in which he was selling. He stated, "Knowing your clients is everything in sales, so I suspect it is a very important part of leadership at Biotech as well." When asked how he created followers among his employees, Mendez replied that he liked to have rules but room for deviation, and likes to provide flexibility in the job while staying results-driven. Mendez said he was a situational leader because it encouraged freedom, and allowed him to use different leadership styles with a diverse group of employees. Step 5: Succession Planning Table – Part Two Complete the Succession Planning Table – Part Two to help guide your decision making. Step 6: Succession Planning Report – Part Two Complete the Succession Planning Report – Part Two. This is the report that will be reviewed by President and CEO, Maximillian Barney. Your Group's Succession Planning Report Part Two will be addressed to Mr. Maximillian Barney, the CEO and President of Biotech. The report should address all of the following elements, with each section supported by course materials. Introduction:A description of your group's succession planning process (from both last week and this week) Recommendations:For each of the five positions identify: The internal candidate recommended for each position, and why (supported by course materials).A brief discussion about any candidate not chosen for a leadership position at this time, with justification for this decision supported by course materials.If any of the positions cannot be filled by the current candidate pool, describe why an external search is recommended.If any of the positions cannot be filled by the current candidate pool, briefly describe the qualities that you feel the Biotech recruiting team should look for in the external candidate for this position.Summary: Describe briefly to Mr. Barney why your group's recommendations are important for Biotech's future. Reference Page: (in APA format) Step 7: Submit the completed Report in the Assignment Folder. Submit the Succession Planning Report Part Two into your Group's Assignment Area and in Turnitin. One submission should be made per group.Other Required Elements:Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as "I, me, my, we, or us" (first person writing), nor is there use of "you or your" (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person. Contractions are not used in business reports, so do not use them. Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Direct quotes are NOT allowed if they are quotation from course materials. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.In-text citations should be included in ALL SECTIONS of the report, and should demonstrate application of the course material. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. Provide the page or paragraph number for ideas that are reference in all in-text citations.You may only use the course material from the classroom. You may not use books or any resource from the Internet.Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one's own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.BMGT 365 - Team Deliverable #3 – Succession Planning for Biotech – Part TwoNOTE: All submitted work is to be your team's original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only). Team Deliverable #3 is due Sunday, September 15, at 11:59 p.m. eastern time of week 4 unless otherwise changed by the instructor.Purpose: The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization's core values and leadership competencies.Skill Building: You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions. Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report.Outcomes Met With This Project: Use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skillsAssess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practicesCollaborate in teams utilizing effective communication techniquesDevelop individual awareness, style, and communication skills that enhances leadership skillsIntegrate and apply analytical principles and skills to make strategic decisionsThis project is the last of three group projects. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area. As a self-managed team, the following is the work for which team members are responsible: setting goalsdetermining roles and responsibilities for each team memberactively participating and communicating in the Group area of the classroomcompleting the agreed upon work prior to the deadlineresolving problems and issues among the team membersagreeing on a final product as a group (consensus decision making)submitting the final product into the Assignment Folder (all students will submit into the Assignment Folder)All students on the team will receive the same grade unless a member fails to participate or does not carry his or her weight in completing the project. These students will receive a zero or a reduced grade depending on the level of participation and contribution to the team project. Teams can consist of 2, 3 or 4 students but should not consists of more than four students. Team members are responsible for completing the project even if a team member does not fulfill his or her obligation of submitting the agreed upon work. The project cannot be completed individually and students cannot choose to create teams other than those created by the instructor. If a team member does not hear from any other member, it is important to reach out to the instructor. If the project is submitted after the due date, the Late Assignment policy is applicable. No extensions beyond the due date is given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Biotech. This Committee has been hard at work for months, planning the successor for Mr. Barney, and the rest of the executive team (largely positions occupied by the Barney family). They have assigned your group to complete the Succession Plan for five key leadership positions at Biotech. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Mr. Barney, the CEO, has stressed that if the right leader for a position does not exist already within Biotech, he would rather search for someone externally than to settle. Your Group has already analyzed these five leadership positions and presented a report to Mr. Barney about them. Now it is time to identify any internal candidates that may be suitable for these positions. The Committee has already interviewed five different individuals that have expressed an interest in furthering their careers at Biotech. All have leadership positions currently at different levels, and within different departments of Biotech. All have agreed to accept any leadership position assigned to them, and all are open to relocate. Instructions:Step 1: Course MaterialFor this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and are used to explain the 'why and how' of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally showing an understanding of the logical connections between the ideas presented in a case scenario, the course material and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected consistently supporting what is presented. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.Step 2: Review the Leadership Competencies Table Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement (You may also wish to review any feedback received by your Instructor about your Table.). Step 3: Review Upcoming Positions Review the five different upcoming positions for which your group has been tasked at filling and the leadership competencies you identified for each (You may also wish to review any feedback received by your Instructor about these competencies). Step 4: Read Profiles of Five Internal Candidates Read the profiles of the five internal candidates that have put themselves forward for leadership positions.Candidate 1 - Jackie Johnson – Current Position - Director of Purchasing Jackie Johnson currently works as Director of Purchasing and obtained this job right out serving in the military. She is a graduate of UMUC's business administration program. Johnson entered the interview room all smiles and with a firm handshake. The interviewer admitted to being impressed by the firm handshake and the constant eye contact throughout the interview. Johnson was very prepared to discuss her future with the company. She had completed extensive research on all four geographic divisions prior to the interview. Johnson had also spoken with current employees throughout Headquarters. Johnson indicated that, as Director of Purchasing, she had worked very hard to create a small business "subculture" within her department. She felt that her employees were empowered to make their own decisions, which freed her to think strategically about purchasing for Biotech. She admits that this "free-rein" approach to leadership has sometimes allowed her department to have missteps in distribution with divisions outside of North America. She has worked hard to overcome that image by altering her leadership style according to the situation or the employee she is dealing with. Her approach to leading is to look for leadership opportunities and encourage employees to act upon them, if possible. Johnson believes she is positive about the future and while she admits to only having worked in the purchasing department, she feels that she can bring a big picture perspective to the company, having worked with both suppliers and customers in purchasing. When asked about her risk tolerance, she replied, "I believe that is demonstrated in the small-business, entrepreneurial subculture I created in purchasing. At the end of the day, I'm more risk tolerant than cautious." Johnson said she sees herself as a transformational leader. She feels that good leadership is built on good relationships with followers. Relational theory seems to make the most sense to her for the 21st century because people make change work, and leading change is the future. Candidate 2 - Henrietta Higgins – Current Position – Assistant Director of Purchasing Henrietta currently works at Biotech Headquarters in the Purchasing Department. She is 28 years old with 3 years of college. Henrietta is a business administration major, and expects to graduate in about one year. She is friendly and has a quiet demeanor. She does not tolerate much nonsense from people, hates surprises, and wants people to be brief in talking with her. When asked what she likes about her current position, she replied that she likes the feeling of a small-business that her boss has created within the purchasing department. She appreciates that it makes her feel in control in such an environment. She likes the idea of the collaborative environment of Biotech and responded well to the idea that her opinions and suggestions were always welcome. However, she expressed some concern that the youthful employees of IT, and some other departments, had plenty of opinions but not a lot of discipline in their work ethic. She has found that structure, procedures and rules have worked better than asking for input. When asked how her staff perceived her, she laughed and said they called her a "Type A.". The interviewer noted that during this statement, it was only one of two times during the interview that she held his gaze for any length of time. When asked what characteristics she thought a leader needed to possess to succeed in the 21st century she replied, "…objective, practical, controlled and fair." Higgins said her leadership style was transactional but the interview was not sure if it was not more authoritarian. When asked what leadership theory she thought was most likely to work in the 21st century her reply was "Great Man, because it emphasizes the characteristics of a person like honesty and trust." Higgins's knowledge of the business was sound but when asked if anyone could be a leader she said no. It was up to the position that a person holds. Higgins did understand that sustainability was very important to the business. She said she had some ideas on how to make the process aspects of Biotech better and more efficient while saving cost. She also thought that being eco-friendly was important but realized that was the other meaning of the word sustainability in business. Candidate 3 – Mohammad Darvish – Current position – Marketing Manager, Homeopathic Division (Corporate Headquarters) Darvish currently manages the sales of the Homeopathic Division. He enjoys working with a customer until they are satisfied and regrets having to short change the time he spends with customers today. He also feels that the company culture has become more rigid over the past few years. When asked to elaborate he responded, "Folks are scared of making mistakes. If there has been anything I've been seeking to change in the homeopathic division, it's that it's okay to make mistakes, as long as we learn from them." When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…flexible, risk tolerant, insightful and honest." He liked the collaborative culture of Biotech and showed signs of having done his homework on the other divisions, particularly Asia. Biotech, he said, would do well if the company made sure that this division continued it existing culture because it encouraged creativity. When asked how he created followers among his employees, Darvish replied that he liked to use incentive motivational techniques and would sometimes empower workers if they demonstrated the ability to take risks. Darvish said he was sometimes a laisse-faire leader because it encouraged freedom of thinking. He said he would solve problems largely through "good teaming and collaboration". His said his favorite leadership theory was contingency theory because it allowed him to approach things by the situation. He liked to agree with people and saw himself as being flexible. When asked how he dealt with change, he replied, "In this business, if you're not changing, you're dying." Candidate 4 – Marg Simpson – Current position – Sales Director, Chicago OfficeMarg Simpson is 36 years old. She is a single mother of two. She was a nurse for 8 years before coming to work at Biotech in the marketing area of the sales division in Chicago. She has been working for the company for four years. Her immediate manager reported that Marg is highly motivated and competent at her job. Her manager said that Marg's biggest asset is that she "looked at challenges as opportunities and often found creative solutions to problems that others had not considered." Simpson's nursing years were spent at the University of Chicago in Orlando Park. Surrounded by a large Muslim community the hospital gave classes in Arabic and Simpson found it very useful in her work to attend Arabic classes. She learned not only how to carry on a conversation with non-English speaking patients but the names of many drugs and over-the-counter treatments. Simpson enjoyed her time in Orlando Park and found the culture of the families very compatible with her own ideas of family. When asked if she was risk tolerant or risk averse, she answered: "I occasionally reward risk taking in the work environment. I do not think poorly planned risk is wise, but sometimes you have to take a chance in sales. It is not for the faint-hearted. But at the end of the day, I'd describe myself more risk averse than tolerant." Having read about the opportunity through the Biotech's HR division website, Simpson was excited about the possibility of moving her career forward. When asked if she were to relocate to other regions, such as the Middle East, if it would present problems for her, she only said. "Initially, but if I plan things out well, surround myself with good people and learn about my clients I am sure I could overcome the cultural drawbacks to being a woman." While she describes herself as being very familiar with Muslim cultures, Simpson freely admits that she knows little about Europe or South America. She has read some information and thinks she could learn another language if she is given help and the time needed to learn. Simpson has many innovative ideas about increasing sales. Simpson's evaluations are superior and she works well with her team. Her colleagues suggest that she is flexible and a people-first person. Her eye contact is good and she comes off as being very authentic. She describes her leadership style as "a blend of situational and transformational" and describes herself as a relational leader. The interviewer noted that at times she seemed to be more future oriented in her comments and may need to worry more about the here and now when getting things done. Candidate 5 – Rafael Mendez – Current Position – Director of Sales, New Mexico Mendez currently is Director of the New Mexico sales division at Biotech. He was Biotech's top salesman before taking over the Director position. Mendez is 32 years old. A recent divorce from his wife has made him eager to make a change in his career. Mendez's wife was Brazilian. Mendez is fluent in Portuguese. When asked if he was open to moving outside of the United States, Mendez replied that he was "open to adventure." He had not traveled excessively but had gone to Brazil regularly with his wife when they were together. He was familiar with the problems of a developing country. Mendez enjoys working with customers and spends a lot of time with them making sure they are satisfied. Darvish enjoys Biotech's collaborative culture. He feels that one of the secrets to his own sales success is the ability to coordinate with other departments within Biotech, including purchasing, IT, R&D, and HR. As part of his 360-degree performance appraisal, his team gave him glowing reviews. He got equally high ratings from the more senior (Baby Boomer) salespeople on his team as the younger (millennial) salespeople. When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…you need to be a good listener, first and foremost." He felt a good leader should change rapidly in a crisis and should be direct and assertive when dealing with people. When asked about the idea of competitive edge he said "A leader has to worry about making money every day. It is important to have immediate results for all to see especially in sales. Even customers prefer to deal with successful sales people than those that plod along." Mendez believes he could do well in another country if the company ensured he received language and cultural training. He knew that understanding how people thought about business and their products was important but more likely the sale would be clinched if he knew what was and wasn't good in the country in which he was selling. He stated, "Knowing your clients is everything in sales, so I suspect it is a very important part of leadership at Biotech as well." When asked how he created followers among his employees, Mendez replied that he liked to have rules but room for deviation, and likes to provide flexibility in the job while staying results-driven. Mendez said he was a situational leader because it encouraged freedom, and allowed him to use different leadership styles with a diverse group of employees. Step 5: Succession Planning Table – Part Two Complete the Succession Planning Table – Part Two to help guide your decision making. Step 6: Succession Planning Report – Part Two Complete the Succession Planning Report – Part Two. This is the report that will be reviewed by President and CEO, Maximillian Barney. Your Group's Succession Planning Report Part Two will be addressed to Mr. Maximillian Barney, the CEO and President of Biotech. The report should address all of the following elements, with each section supported by course materials. Introduction:A description of your group's succession planning process (from both last week and this week) Recommendations:For each of the five positions identify: The internal candidate recommended for each position, and why (supported by course materials).A brief discussion about any candidate not chosen for a leadership position at this time, with justification for this decision supported by course materials.If any of the positions cannot be filled by the current candidate pool, describe why an external search is recommended.If any of the positions cannot be filled by the current candidate pool, briefly describe the qualities that you feel the Biotech recruiting team should look for in the external candidate for this position.Summary: Describe briefly to Mr. Barney why your group's recommendations are important for Biotech's future. Reference Page: (in APA format) Step 7: Submit the completed Report in the Assignment Folder. Submit the Succession Planning Report Part Two into your Group's Assignment Area and in Turnitin. One submission should be made per group.Other Required Elements:Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as "I, me, my, we, or us" (first person writing), nor is there use of "you or your" (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person. Contractions are not used in business reports, so do not use them. Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Direct quotes are NOT allowed if they are quotation from course materials. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.In-text citations should be included in ALL SECTIONS of the report, and should demonstrate application of the course material. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. Provide the page or paragraph number for ideas that are reference in all in-text citations.You may only use the course material from the classroom. You may not use books or any resource from the Internet.Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one's own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.
Finance and Accounting Case Study
. Introduction Provide a brief synopsis of the meaning (not a description) of each Chapter and articles you read, in your ...
Finance and Accounting Case Study
. Introduction Provide a brief synopsis of the meaning (not a description) of each Chapter and articles you read, in your own words that will apply to the case study presented.2. Your Critique Case Studies in Finance and AccountingMercy Hospital: A Case AnalysisAbstractThis is a case study which describes an account (names, other facts changed to preserve anonymity) in which an internal auditor in a hospital setting, due to personal biases and a lack of objectivity, performed a substandard audit of a capital asset acquisition and violated several standards of the International Standards for the Professional Practice of InternalAuditing as well as the Institute of Internal Auditors (IIA) Code of Ethics. Students use theStandards and Code of Ethics to form conclusions regarding shortcomings of this audit. TheInternational IIA Standards and Code of Ethics are online and easily read, with the Standards being twenty one pages in length and the Code of Ethics being two pages. The case is designed to be taught in one class period. Students are exposed to actual standards and required to employ the standards in their analysis of the case.Mercy Hospital - BackgroundMercy Hospital is a leading health-care provider and one of the oldest hospitals in the region.The 300-bed, acute-care facility is known for its quality of care and respected for their expertise and innovation in the delivery of health care. As a leader in cardiac, trauma, surgical, orthopedic, neurologic, and vascular and cancer care, Mercy Hospital offers patients the latest treatments by providing its medical staff, comprising more than 600 physicians, with the most advanced technology available. Mercy Hospital is one of eight individual hospitals comprising a hospital network located across seven states ranging from Pennsylvania to Mississippi. The eight hospitals have a network headquarters which provides many of the financial functions including internal audit services. Collectively, the hospitals are members of the Mercy Health Network. Management at each hospital is decentralized except all of the hospitals participate in a consortium to purchase medical supplies for a more competitive price than otherwise would be available.64-Slice CT ScannerThe 64-Slice CT Scanner is a new imaging medical device that helps physicians diagnose and treat a variety of medical conditions by providing a more anatomically detailed image of the patient’s organs. Older CT scanners have been used for years to study internal organs, bones, soft tissue and blood vessels. They are particularly useful in trauma situations to identify injuries to the heart and vessels, liver, kidneys or other internal organs. The scanner is also used to plan for surgery and monitor the treatment of tumors for cancer patientsHeart related maladies are all too common. The United States Center for Health and HumanServices reported that in the USA for the years 2017-2018, over 5 million people arrived in emergency rooms complaining of chest pain (United States National Center for HealthStatistics, 2016, p. 2). The new 64-Slice CT Scanner is judged to be faster and more reliable for diagnosing chest pain. It can evaluate a heart patient by capturing thousands of images of the heart in less than 5 seconds or capture images of the whole body in less than 30 seconds.The cost of these machines is generally expected to range from $1.5 to $2 million.Bidding on the 64-Slice CT Scanner can be a very competitive and costly commitment by vendors. They insist that Board approval be granted for the machine before final bids are submitted.The Audit ProcessMercy Hospital’s capital-asset procurement process for any single acquisition over $100,000 is to have a formal proposal submitted to the board of directors (BOD) who vote on its approval. If the proposal is approved, the funds are transferred to the respective hospital for eventual disbursement. The internal auditors are charged with following up within one year of acquisition to check the propriety of the purchase and disbursal of funds. Recently, a proposal for a new CT scanner was submitted by Mercy Hospital’s controller. The other hospitals were told to "wait and see" until the internal auditors could inspect the documentation of the acquisition and the operating effectiveness and efficiency of the new process before being allowed to submit their own proposals. Mercy’s proposal was the one of the larger proposals submitted over the past several years at a total of $1.625 million dollars plus approximately $25,000 for the labor and other necessary expenditures to remove the old equipment to permit the installation of the new scanner. The cost of the new scanner by itself was listed in the proposal at $1.3 million.The internal auditor assigned to the acquisition was Jack Jones. Jack had been with the network for over three years performing mostly operational audits (on existing processes), reviewing internal controls, and payroll and travel expenses. Jack believed that the procedures associated with this capital-asset audit would be simple and routine.This was not Jack's first visit to Mercy Hospital. In fact, Jack had performed an audit on the hospital’s payroll and travel expenditures only a year ago. Jack's recollection of the experience was not a pleasant one. He had several "confrontations" with the controller, mostly as a result of clashing personalities. While all the expense issues were easily resolved, Jack felt there was still an adversarial relationship between them and he was “on guard” for any “preemptive strikes” this time around.It was a long drive to Mercy Hospital so when Jack arrived a little late the day of his audit he was greeted by the controller with a perceived air of indifference and promptly led to a secluded and windowless office room. The controller calmly explained that he was extremely busy and would answer any questions at the end of the day. Jack merely nodded his head and sat down in front of several tall piles of invoices that the controller had furnished and represented the documentation supporting the purchase, set up, and testing of this new technology. Jack was somewhat surprised, fully expecting to see only a handful of invoices, but did not ask for any explanations. As Jack began looking through the myriad of statements and canceled checks he soon found one particular invoice near the top of the first pile which indicated that the actual price paid for just the machine itself was only $902,000!Jack's first reaction was to call the director of auditing. When he found that the director was out for the day and could not be reached, he decided to call the VP of Operations at corporate headquarters. Jack was critical of the controller in describing the seriousness of his suspicions based on this preliminary information. Jack didn't realize that there was a scheduled BOD's meeting that day and that the news would be passed on to the Board. The Board members were outraged over the alleged misuse of the funds and possible fraud.Jack was unaware that the controller was soon being lambasted by the chair of the BODs in a private conference call. Seconds after the call, the controller walked up to Jack and had only two words to say—“Get out." Jack was flabbergasted; he called back to Network’s HomeOffice only to receive a rather icy response from the Chair of the BOD's secretary suggesting that he return immediately. As Jack got into his car and drove back to the home office he wondered what he had done so wrong.PostscriptThree days later Jack was called in to the director of internal audit's office. The director told the story of how he personally visited Mercy Hospital the next day after Jack's visit and performed the capital-asset audit himself. The director found that there were a number of reasonable explanations for the differences in the original proposal and the actual expenditure. To begin with, the companies who sold the machine would not talk about discounting the price until they knew that the funds were available. Once the proposal was approved and the funds were authorized for disbursement, only then did the competing vendors begin slashing their prices because of competition for the sale. This is what drove the cost of the machine down from $1,300,000 to $902,000. Other accessories and services provided by the vendor reduced the initial list price even further by some $57,000. Training and warranty costs were not subject to discounting. However, there were several factors that mitigated some of these savings.It would take close to a month before the new machine became operational because no one really knew how difficult it was going to be to remove the old machine which had been embedded in the concrete floor (to minimize vibration). It was decided that to save time and costs, the new machine would be set up in a new room adjacent to the room for the older scanner. The new space would have to be renovated and new electrical connections installed.Since the hospital could not afford to shut down for any extended length of time, the new space had to be renovated before the older machine could be dismantled. Then, while the new equipment was being tested, the old scanner had to be kept running in its temporary location. During the time that both machines were running, machine operators and supporting personnel were asked to work double shifts in order to test and become familiar with the new scanner before closing down the old machine. This took longer than expected because Mercy’s technicians were not familiar with the new machine and had some difficulty with even minor start-up problems. Therefore, for the first two weeks, special outside consultants were hired to operate the scanner at the proper specifications. These additional and unexpected outlays were costly and brought the total to just under $1.4 million ($1.17 million and $230,000 for the renovations and other expenditures) which was still lower than the original estimate of $1.65 million. Even though the list price came in at a reasonable $902,000 (saving $398,000 and other discounts provided additional savings of $57,000), the renovations amounted to $230,000 and exceeded the original estimated renovation costs of $25,000. The director went on to explain to Jack that the reason for the abnormally large number of invoices was due to the renovation cost, additional labor cost associated with the new machine, and the cost of running both machines during the transition. As it turns out, Mercy’s controller actually did a commendable job in overseeing the project and keeping accurate records of the disbursements. In fact, the controller created a specialized installation guide that will probably save hundreds of thousands of dollars when the remaining hospitals install more of these machines. When the director was finished, he told Jack that unless he changed his attitude and re-considered what it means to be a professional internal auditor, he was likely to remain a payroll auditor for the rest of his career. The director told Jack to go back and read a basic internal audit text on interviewing techniques, the Code of Ethics and the Standards for Professional Practice. Jack still didn't understand. What was the director trying to say?CASE STUDY CHALLENGE1. Students should be asked to read the case and discuss all procedures done during this auditory.2. Comment on Jack's interviewing techniques. 3. What could Jack have done differently?4. What did Jack forget to do?3. Conclusion Briefly summarize your thoughts & conclusion to your critique of the case study and provide a possible outcome for the Finance department. How did these articles and Chapters influence your opinions about Managing finance and budgets?
Finance Discussion
Treasury bills and Treasury notes are an investment security issued by the U.S. government. A Treasury bill matures within ...
Finance Discussion
Treasury bills and Treasury notes are an investment security issued by the U.S. government. A Treasury bill matures within one year and investors typically roll over the matured Treasury bill and purchase another Treasury bill the same day. Treasury notes have maturities of up to 10 years.You are considering investing $50,000 in a Treasury bill that you will renew every 6 months or invest in a Treasury note that you will hold until maturity. Your investment time frame is 9 years.Current investment opportunity interest rates are 5% and are expected to increase to 7% in 6 months. Would you invest in the Treasury bill that you can rollover every 6 months and reinvest or leave your money in the Treasury note that will mature in 9 years? Discuss your reasoning.
week 4 Business Law
Negligence and Product Liability are two of our main topics for this week. Negligence is an “unintentional tort” becau ...
week 4 Business Law
Negligence and Product Liability are two of our main topics for this week. Negligence is an “unintentional tort” because it happens by accident. Product Liability arises when one is injured by a defective product.Consider the scenarios below. Choose one and determine if it describes negligence or product liability. Explain your answer and be sure to discuss the elements of any claims that may arise.Daisy is driving in her car when her phone chimes. She picks up her phone and sees a text from her friend. While responding to the text Daisy runs a red light and causes an accident.Janet just moved from Florida to Minnesota and is enjoying the scenery of a beautiful snowfall when she sees a person slip and fall on the ice on sidewalk in front of her house.Larry is a lumberjack. He decides to purchase a new chainsaw. The first time Larry uses the chainsaw the product malfunctions and Larry is injured.
University of Massachusetts Amherst Unique Coffee Brand Position Discussion
You are a small business person who plans to open a premium coffee shop, much like Starbucks. Your value proposition is pr ...
University of Massachusetts Amherst Unique Coffee Brand Position Discussion
You are a small business person who plans to open a premium coffee shop, much like Starbucks. Your value proposition is premium blend coffee from small farmers around the globe, a fun, informal environment for college students and others who might enjoy televisions, a funky atmosphere (paintings on the walls, workers wearing tee-shirts and shorts, cement floors, and used furniture for seating. Compose a discussion post that responds to each of the following prompts:Considering your unique brand position, the market, competition, and your goal of achieving brand awareness and premium image, how would you arrive at prices for your coffee? How important are the 4 Cs (costs, competition, customers, company strategy) for this product? Consider the pricing objectives and strategies (attached) - what are your objectives as a new shop and what is your pricing strategy (long-term)? Explain your rationale. What is your price tier (level) relative to your competition? Discuss your reasoning. Assume the following factors - the average variable cost for all coffee sold is 15%; fixed costs = $30 K/ month; How much coffee do you need to sell, at the prices you've set, to breakeven (i.e., cover all fixed costs) for a month? PLEASE USE THE STUDENT'S PERSPECTIVE TO FINISH THIS DISSICUISSSION . THANK YOU!
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W4 Org Leadership Group Project- Table Only
I need step 5 completed for this Group Project. The table to fill out is linked under that step. If for some reason it is ...
W4 Org Leadership Group Project- Table Only
I need step 5 completed for this Group Project. The table to fill out is linked under that step. If for some reason it is not working please let me know. It is important for you to read all the instructions before. I know it is a little weird to read so I will attach it labeled W4 Syllabus. I will also attach the grading rubric. You need to review this to make sure you don't do anything correctly. The instructor is strict. For the table please only use the leadership competencies that are listed in the W3 Leadership Competencies file and the one that says example. You need to use ONLY the sources I provide which will also be attached. Do not forget to include the reference page as well. I need atleast 5 different sources to be on the reference page, but the more the better.BMGT 365 - Team Deliverable #3 – Succession Planning for Biotech – Part TwoAPA FORMATPurpose:The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization's core values and leadership competencies.Skill Building: You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions. Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report.Outcomes Met With This Project: Use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skillsAssess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practicesCollaborate in teams utilizing effective communication techniquesDevelop individual awareness, style, and communication skills that enhances leadership skillsIntegrate and apply analytical principles and skills to make strategic decisionsThis project is the last of three group projects. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area. As a self-managed team, the following is the work for which team members are responsible: setting goalsdetermining roles and responsibilities for each team memberactively participating and communicating in the Group area of the classroomcompleting the agreed upon work prior to the deadlineresolving problems and issues among the team membersagreeing on a final product as a group (consensus decision making)submitting the final product into the Assignment Folder (all students will submit into the Assignment Folder)All students on the team will receive the same grade unless a member fails to participate or does not carry his or her weight in completing the project. These students will receive a zero or a reduced grade depending on the level of participation and contribution to the team project. Teams can consist of 2, 3 or 4 students but should not consists of more than four students. Team members are responsible for completing the project even if a team member does not fulfill his or her obligation of submitting the agreed upon work. The project cannot be completed individually and students cannot choose to create teams other than those created by the instructor. If a team member does not hear from any other member, it is important to reach out to the instructor. If the project is submitted after the due date, the Late Assignment policy is applicable. No extensions beyond the due date is given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Biotech. This Committee has been hard at work for months, planning the successor for Mr. Barney, and the rest of the executive team (largely positions occupied by the Barney family). They have assigned your group to complete the Succession Plan for five key leadership positions at Biotech. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Mr. Barney, the CEO, has stressed that if the right leader for a position does not exist already within Biotech, he would rather search for someone externally than to settle. Your Group has already analyzed these five leadership positions and presented a report to Mr. Barney about them. Now it is time to identify any internal candidates that may be suitable for these positions. The Committee has already interviewed five different individuals that have expressed an interest in furthering their careers at Biotech. All have leadership positions currently at different levels, and within different departments of Biotech. All have agreed to accept any leadership position assigned to them, and all are open to relocate. Instructions:Step 1: Course MaterialFor this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and are used to explain the 'why and how' of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally showing an understanding of the logical connections between the ideas presented in a case scenario, the course material and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected consistently supporting what is presented. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.Step 2: Review the Leadership Competencies Table Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement (You may also wish to review any feedback received by your Instructor about your Table.). Step 3: Review Upcoming Positions Review the five different upcoming positions for which your group has been tasked at filling and the leadership competencies you identified for each (You may also wish to review any feedback received by your Instructor about these competencies). Step 4: Read Profiles of Five Internal Candidates Read the profiles of the five internal candidates that have put themselves forward for leadership positions.Candidate 1 - Jackie Johnson – Current Position - Director of Purchasing Jackie Johnson currently works as Director of Purchasing and obtained this job right out serving in the military. She is a graduate of UMUC's business administration program. Johnson entered the interview room all smiles and with a firm handshake. The interviewer admitted to being impressed by the firm handshake and the constant eye contact throughout the interview. Johnson was very prepared to discuss her future with the company. She had completed extensive research on all four geographic divisions prior to the interview. Johnson had also spoken with current employees throughout Headquarters. Johnson indicated that, as Director of Purchasing, she had worked very hard to create a small business "subculture" within her department. She felt that her employees were empowered to make their own decisions, which freed her to think strategically about purchasing for Biotech. She admits that this "free-rein" approach to leadership has sometimes allowed her department to have missteps in distribution with divisions outside of North America. She has worked hard to overcome that image by altering her leadership style according to the situation or the employee she is dealing with. Her approach to leading is to look for leadership opportunities and encourage employees to act upon them, if possible. Johnson believes she is positive about the future and while she admits to only having worked in the purchasing department, she feels that she can bring a big picture perspective to the company, having worked with both suppliers and customers in purchasing. When asked about her risk tolerance, she replied, "I believe that is demonstrated in the small-business, entrepreneurial subculture I created in purchasing. At the end of the day, I'm more risk tolerant than cautious." Johnson said she sees herself as a transformational leader. She feels that good leadership is built on good relationships with followers. Relational theory seems to make the most sense to her for the 21st century because people make change work, and leading change is the future. Candidate 2 - Henrietta Higgins – Current Position – Assistant Director of Purchasing Henrietta currently works at Biotech Headquarters in the Purchasing Department. She is 28 years old with 3 years of college. Henrietta is a business administration major, and expects to graduate in about one year. She is friendly and has a quiet demeanor. She does not tolerate much nonsense from people, hates surprises, and wants people to be brief in talking with her. When asked what she likes about her current position, she replied that she likes the feeling of a small-business that her boss has created within the purchasing department. She appreciates that it makes her feel in control in such an environment. She likes the idea of the collaborative environment of Biotech and responded well to the idea that her opinions and suggestions were always welcome. However, she expressed some concern that the youthful employees of IT, and some other departments, had plenty of opinions but not a lot of discipline in their work ethic. She has found that structure, procedures and rules have worked better than asking for input. When asked how her staff perceived her, she laughed and said they called her a "Type A.". The interviewer noted that during this statement, it was only one of two times during the interview that she held his gaze for any length of time. When asked what characteristics she thought a leader needed to possess to succeed in the 21st century she replied, "…objective, practical, controlled and fair." Higgins said her leadership style was transactional but the interview was not sure if it was not more authoritarian. When asked what leadership theory she thought was most likely to work in the 21st century her reply was "Great Man, because it emphasizes the characteristics of a person like honesty and trust." Higgins's knowledge of the business was sound but when asked if anyone could be a leader she said no. It was up to the position that a person holds. Higgins did understand that sustainability was very important to the business. She said she had some ideas on how to make the process aspects of Biotech better and more efficient while saving cost. She also thought that being eco-friendly was important but realized that was the other meaning of the word sustainability in business. Candidate 3 – Mohammad Darvish – Current position – Marketing Manager, Homeopathic Division (Corporate Headquarters) Darvish currently manages the sales of the Homeopathic Division. He enjoys working with a customer until they are satisfied and regrets having to short change the time he spends with customers today. He also feels that the company culture has become more rigid over the past few years. When asked to elaborate he responded, "Folks are scared of making mistakes. If there has been anything I've been seeking to change in the homeopathic division, it's that it's okay to make mistakes, as long as we learn from them." When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…flexible, risk tolerant, insightful and honest." He liked the collaborative culture of Biotech and showed signs of having done his homework on the other divisions, particularly Asia. Biotech, he said, would do well if the company made sure that this division continued it existing culture because it encouraged creativity. When asked how he created followers among his employees, Darvish replied that he liked to use incentive motivational techniques and would sometimes empower workers if they demonstrated the ability to take risks. Darvish said he was sometimes a laisse-faire leader because it encouraged freedom of thinking. He said he would solve problems largely through "good teaming and collaboration". His said his favorite leadership theory was contingency theory because it allowed him to approach things by the situation. He liked to agree with people and saw himself as being flexible. When asked how he dealt with change, he replied, "In this business, if you're not changing, you're dying." Candidate 4 – Marg Simpson – Current position – Sales Director, Chicago OfficeMarg Simpson is 36 years old. She is a single mother of two. She was a nurse for 8 years before coming to work at Biotech in the marketing area of the sales division in Chicago. She has been working for the company for four years. Her immediate manager reported that Marg is highly motivated and competent at her job. Her manager said that Marg's biggest asset is that she "looked at challenges as opportunities and often found creative solutions to problems that others had not considered." Simpson's nursing years were spent at the University of Chicago in Orlando Park. Surrounded by a large Muslim community the hospital gave classes in Arabic and Simpson found it very useful in her work to attend Arabic classes. She learned not only how to carry on a conversation with non-English speaking patients but the names of many drugs and over-the-counter treatments. Simpson enjoyed her time in Orlando Park and found the culture of the families very compatible with her own ideas of family. When asked if she was risk tolerant or risk averse, she answered: "I occasionally reward risk taking in the work environment. I do not think poorly planned risk is wise, but sometimes you have to take a chance in sales. It is not for the faint-hearted. But at the end of the day, I'd describe myself more risk averse than tolerant." Having read about the opportunity through the Biotech's HR division website, Simpson was excited about the possibility of moving her career forward. When asked if she were to relocate to other regions, such as the Middle East, if it would present problems for her, she only said. "Initially, but if I plan things out well, surround myself with good people and learn about my clients I am sure I could overcome the cultural drawbacks to being a woman." While she describes herself as being very familiar with Muslim cultures, Simpson freely admits that she knows little about Europe or South America. She has read some information and thinks she could learn another language if she is given help and the time needed to learn. Simpson has many innovative ideas about increasing sales. Simpson's evaluations are superior and she works well with her team. Her colleagues suggest that she is flexible and a people-first person. Her eye contact is good and she comes off as being very authentic. She describes her leadership style as "a blend of situational and transformational" and describes herself as a relational leader. The interviewer noted that at times she seemed to be more future oriented in her comments and may need to worry more about the here and now when getting things done. Candidate 5 – Rafael Mendez – Current Position – Director of Sales, New Mexico Mendez currently is Director of the New Mexico sales division at Biotech. He was Biotech's top salesman before taking over the Director position. Mendez is 32 years old. A recent divorce from his wife has made him eager to make a change in his career. Mendez's wife was Brazilian. Mendez is fluent in Portuguese. When asked if he was open to moving outside of the United States, Mendez replied that he was "open to adventure." He had not traveled excessively but had gone to Brazil regularly with his wife when they were together. He was familiar with the problems of a developing country. Mendez enjoys working with customers and spends a lot of time with them making sure they are satisfied. Darvish enjoys Biotech's collaborative culture. He feels that one of the secrets to his own sales success is the ability to coordinate with other departments within Biotech, including purchasing, IT, R&D, and HR. As part of his 360-degree performance appraisal, his team gave him glowing reviews. He got equally high ratings from the more senior (Baby Boomer) salespeople on his team as the younger (millennial) salespeople. When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…you need to be a good listener, first and foremost." He felt a good leader should change rapidly in a crisis and should be direct and assertive when dealing with people. When asked about the idea of competitive edge he said "A leader has to worry about making money every day. It is important to have immediate results for all to see especially in sales. Even customers prefer to deal with successful sales people than those that plod along." Mendez believes he could do well in another country if the company ensured he received language and cultural training. He knew that understanding how people thought about business and their products was important but more likely the sale would be clinched if he knew what was and wasn't good in the country in which he was selling. He stated, "Knowing your clients is everything in sales, so I suspect it is a very important part of leadership at Biotech as well." When asked how he created followers among his employees, Mendez replied that he liked to have rules but room for deviation, and likes to provide flexibility in the job while staying results-driven. Mendez said he was a situational leader because it encouraged freedom, and allowed him to use different leadership styles with a diverse group of employees. Step 5: Succession Planning Table – Part Two Complete the Succession Planning Table – Part Two to help guide your decision making. Step 6: Succession Planning Report – Part Two Complete the Succession Planning Report – Part Two. This is the report that will be reviewed by President and CEO, Maximillian Barney. Your Group's Succession Planning Report Part Two will be addressed to Mr. Maximillian Barney, the CEO and President of Biotech. The report should address all of the following elements, with each section supported by course materials. Introduction:A description of your group's succession planning process (from both last week and this week) Recommendations:For each of the five positions identify: The internal candidate recommended for each position, and why (supported by course materials).A brief discussion about any candidate not chosen for a leadership position at this time, with justification for this decision supported by course materials.If any of the positions cannot be filled by the current candidate pool, describe why an external search is recommended.If any of the positions cannot be filled by the current candidate pool, briefly describe the qualities that you feel the Biotech recruiting team should look for in the external candidate for this position.Summary: Describe briefly to Mr. Barney why your group's recommendations are important for Biotech's future. Reference Page: (in APA format) Step 7: Submit the completed Report in the Assignment Folder. Submit the Succession Planning Report Part Two into your Group's Assignment Area and in Turnitin. One submission should be made per group.Other Required Elements:Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as "I, me, my, we, or us" (first person writing), nor is there use of "you or your" (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person. Contractions are not used in business reports, so do not use them. Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Direct quotes are NOT allowed if they are quotation from course materials. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.In-text citations should be included in ALL SECTIONS of the report, and should demonstrate application of the course material. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. Provide the page or paragraph number for ideas that are reference in all in-text citations.You may only use the course material from the classroom. You may not use books or any resource from the Internet.Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one's own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.BMGT 365 - Team Deliverable #3 – Succession Planning for Biotech – Part TwoNOTE: All submitted work is to be your team's original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only). Team Deliverable #3 is due Sunday, September 15, at 11:59 p.m. eastern time of week 4 unless otherwise changed by the instructor.Purpose: The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization's core values and leadership competencies.Skill Building: You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions. Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report.Outcomes Met With This Project: Use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skillsAssess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practicesCollaborate in teams utilizing effective communication techniquesDevelop individual awareness, style, and communication skills that enhances leadership skillsIntegrate and apply analytical principles and skills to make strategic decisionsThis project is the last of three group projects. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area. As a self-managed team, the following is the work for which team members are responsible: setting goalsdetermining roles and responsibilities for each team memberactively participating and communicating in the Group area of the classroomcompleting the agreed upon work prior to the deadlineresolving problems and issues among the team membersagreeing on a final product as a group (consensus decision making)submitting the final product into the Assignment Folder (all students will submit into the Assignment Folder)All students on the team will receive the same grade unless a member fails to participate or does not carry his or her weight in completing the project. These students will receive a zero or a reduced grade depending on the level of participation and contribution to the team project. Teams can consist of 2, 3 or 4 students but should not consists of more than four students. Team members are responsible for completing the project even if a team member does not fulfill his or her obligation of submitting the agreed upon work. The project cannot be completed individually and students cannot choose to create teams other than those created by the instructor. If a team member does not hear from any other member, it is important to reach out to the instructor. If the project is submitted after the due date, the Late Assignment policy is applicable. No extensions beyond the due date is given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Biotech. This Committee has been hard at work for months, planning the successor for Mr. Barney, and the rest of the executive team (largely positions occupied by the Barney family). They have assigned your group to complete the Succession Plan for five key leadership positions at Biotech. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Mr. Barney, the CEO, has stressed that if the right leader for a position does not exist already within Biotech, he would rather search for someone externally than to settle. Your Group has already analyzed these five leadership positions and presented a report to Mr. Barney about them. Now it is time to identify any internal candidates that may be suitable for these positions. The Committee has already interviewed five different individuals that have expressed an interest in furthering their careers at Biotech. All have leadership positions currently at different levels, and within different departments of Biotech. All have agreed to accept any leadership position assigned to them, and all are open to relocate. Instructions:Step 1: Course MaterialFor this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and are used to explain the 'why and how' of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally showing an understanding of the logical connections between the ideas presented in a case scenario, the course material and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected consistently supporting what is presented. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.Step 2: Review the Leadership Competencies Table Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement (You may also wish to review any feedback received by your Instructor about your Table.). Step 3: Review Upcoming Positions Review the five different upcoming positions for which your group has been tasked at filling and the leadership competencies you identified for each (You may also wish to review any feedback received by your Instructor about these competencies). Step 4: Read Profiles of Five Internal Candidates Read the profiles of the five internal candidates that have put themselves forward for leadership positions.Candidate 1 - Jackie Johnson – Current Position - Director of Purchasing Jackie Johnson currently works as Director of Purchasing and obtained this job right out serving in the military. She is a graduate of UMUC's business administration program. Johnson entered the interview room all smiles and with a firm handshake. The interviewer admitted to being impressed by the firm handshake and the constant eye contact throughout the interview. Johnson was very prepared to discuss her future with the company. She had completed extensive research on all four geographic divisions prior to the interview. Johnson had also spoken with current employees throughout Headquarters. Johnson indicated that, as Director of Purchasing, she had worked very hard to create a small business "subculture" within her department. She felt that her employees were empowered to make their own decisions, which freed her to think strategically about purchasing for Biotech. She admits that this "free-rein" approach to leadership has sometimes allowed her department to have missteps in distribution with divisions outside of North America. She has worked hard to overcome that image by altering her leadership style according to the situation or the employee she is dealing with. Her approach to leading is to look for leadership opportunities and encourage employees to act upon them, if possible. Johnson believes she is positive about the future and while she admits to only having worked in the purchasing department, she feels that she can bring a big picture perspective to the company, having worked with both suppliers and customers in purchasing. When asked about her risk tolerance, she replied, "I believe that is demonstrated in the small-business, entrepreneurial subculture I created in purchasing. At the end of the day, I'm more risk tolerant than cautious." Johnson said she sees herself as a transformational leader. She feels that good leadership is built on good relationships with followers. Relational theory seems to make the most sense to her for the 21st century because people make change work, and leading change is the future. Candidate 2 - Henrietta Higgins – Current Position – Assistant Director of Purchasing Henrietta currently works at Biotech Headquarters in the Purchasing Department. She is 28 years old with 3 years of college. Henrietta is a business administration major, and expects to graduate in about one year. She is friendly and has a quiet demeanor. She does not tolerate much nonsense from people, hates surprises, and wants people to be brief in talking with her. When asked what she likes about her current position, she replied that she likes the feeling of a small-business that her boss has created within the purchasing department. She appreciates that it makes her feel in control in such an environment. She likes the idea of the collaborative environment of Biotech and responded well to the idea that her opinions and suggestions were always welcome. However, she expressed some concern that the youthful employees of IT, and some other departments, had plenty of opinions but not a lot of discipline in their work ethic. She has found that structure, procedures and rules have worked better than asking for input. When asked how her staff perceived her, she laughed and said they called her a "Type A.". The interviewer noted that during this statement, it was only one of two times during the interview that she held his gaze for any length of time. When asked what characteristics she thought a leader needed to possess to succeed in the 21st century she replied, "…objective, practical, controlled and fair." Higgins said her leadership style was transactional but the interview was not sure if it was not more authoritarian. When asked what leadership theory she thought was most likely to work in the 21st century her reply was "Great Man, because it emphasizes the characteristics of a person like honesty and trust." Higgins's knowledge of the business was sound but when asked if anyone could be a leader she said no. It was up to the position that a person holds. Higgins did understand that sustainability was very important to the business. She said she had some ideas on how to make the process aspects of Biotech better and more efficient while saving cost. She also thought that being eco-friendly was important but realized that was the other meaning of the word sustainability in business. Candidate 3 – Mohammad Darvish – Current position – Marketing Manager, Homeopathic Division (Corporate Headquarters) Darvish currently manages the sales of the Homeopathic Division. He enjoys working with a customer until they are satisfied and regrets having to short change the time he spends with customers today. He also feels that the company culture has become more rigid over the past few years. When asked to elaborate he responded, "Folks are scared of making mistakes. If there has been anything I've been seeking to change in the homeopathic division, it's that it's okay to make mistakes, as long as we learn from them." When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…flexible, risk tolerant, insightful and honest." He liked the collaborative culture of Biotech and showed signs of having done his homework on the other divisions, particularly Asia. Biotech, he said, would do well if the company made sure that this division continued it existing culture because it encouraged creativity. When asked how he created followers among his employees, Darvish replied that he liked to use incentive motivational techniques and would sometimes empower workers if they demonstrated the ability to take risks. Darvish said he was sometimes a laisse-faire leader because it encouraged freedom of thinking. He said he would solve problems largely through "good teaming and collaboration". His said his favorite leadership theory was contingency theory because it allowed him to approach things by the situation. He liked to agree with people and saw himself as being flexible. When asked how he dealt with change, he replied, "In this business, if you're not changing, you're dying." Candidate 4 – Marg Simpson – Current position – Sales Director, Chicago OfficeMarg Simpson is 36 years old. She is a single mother of two. She was a nurse for 8 years before coming to work at Biotech in the marketing area of the sales division in Chicago. She has been working for the company for four years. Her immediate manager reported that Marg is highly motivated and competent at her job. Her manager said that Marg's biggest asset is that she "looked at challenges as opportunities and often found creative solutions to problems that others had not considered." Simpson's nursing years were spent at the University of Chicago in Orlando Park. Surrounded by a large Muslim community the hospital gave classes in Arabic and Simpson found it very useful in her work to attend Arabic classes. She learned not only how to carry on a conversation with non-English speaking patients but the names of many drugs and over-the-counter treatments. Simpson enjoyed her time in Orlando Park and found the culture of the families very compatible with her own ideas of family. When asked if she was risk tolerant or risk averse, she answered: "I occasionally reward risk taking in the work environment. I do not think poorly planned risk is wise, but sometimes you have to take a chance in sales. It is not for the faint-hearted. But at the end of the day, I'd describe myself more risk averse than tolerant." Having read about the opportunity through the Biotech's HR division website, Simpson was excited about the possibility of moving her career forward. When asked if she were to relocate to other regions, such as the Middle East, if it would present problems for her, she only said. "Initially, but if I plan things out well, surround myself with good people and learn about my clients I am sure I could overcome the cultural drawbacks to being a woman." While she describes herself as being very familiar with Muslim cultures, Simpson freely admits that she knows little about Europe or South America. She has read some information and thinks she could learn another language if she is given help and the time needed to learn. Simpson has many innovative ideas about increasing sales. Simpson's evaluations are superior and she works well with her team. Her colleagues suggest that she is flexible and a people-first person. Her eye contact is good and she comes off as being very authentic. She describes her leadership style as "a blend of situational and transformational" and describes herself as a relational leader. The interviewer noted that at times she seemed to be more future oriented in her comments and may need to worry more about the here and now when getting things done. Candidate 5 – Rafael Mendez – Current Position – Director of Sales, New Mexico Mendez currently is Director of the New Mexico sales division at Biotech. He was Biotech's top salesman before taking over the Director position. Mendez is 32 years old. A recent divorce from his wife has made him eager to make a change in his career. Mendez's wife was Brazilian. Mendez is fluent in Portuguese. When asked if he was open to moving outside of the United States, Mendez replied that he was "open to adventure." He had not traveled excessively but had gone to Brazil regularly with his wife when they were together. He was familiar with the problems of a developing country. Mendez enjoys working with customers and spends a lot of time with them making sure they are satisfied. Darvish enjoys Biotech's collaborative culture. He feels that one of the secrets to his own sales success is the ability to coordinate with other departments within Biotech, including purchasing, IT, R&D, and HR. As part of his 360-degree performance appraisal, his team gave him glowing reviews. He got equally high ratings from the more senior (Baby Boomer) salespeople on his team as the younger (millennial) salespeople. When asked what characteristics he thought a leader needed to succeed in the 21st century, he replied, "…you need to be a good listener, first and foremost." He felt a good leader should change rapidly in a crisis and should be direct and assertive when dealing with people. When asked about the idea of competitive edge he said "A leader has to worry about making money every day. It is important to have immediate results for all to see especially in sales. Even customers prefer to deal with successful sales people than those that plod along." Mendez believes he could do well in another country if the company ensured he received language and cultural training. He knew that understanding how people thought about business and their products was important but more likely the sale would be clinched if he knew what was and wasn't good in the country in which he was selling. He stated, "Knowing your clients is everything in sales, so I suspect it is a very important part of leadership at Biotech as well." When asked how he created followers among his employees, Mendez replied that he liked to have rules but room for deviation, and likes to provide flexibility in the job while staying results-driven. Mendez said he was a situational leader because it encouraged freedom, and allowed him to use different leadership styles with a diverse group of employees. Step 5: Succession Planning Table – Part Two Complete the Succession Planning Table – Part Two to help guide your decision making. Step 6: Succession Planning Report – Part Two Complete the Succession Planning Report – Part Two. This is the report that will be reviewed by President and CEO, Maximillian Barney. Your Group's Succession Planning Report Part Two will be addressed to Mr. Maximillian Barney, the CEO and President of Biotech. The report should address all of the following elements, with each section supported by course materials. Introduction:A description of your group's succession planning process (from both last week and this week) Recommendations:For each of the five positions identify: The internal candidate recommended for each position, and why (supported by course materials).A brief discussion about any candidate not chosen for a leadership position at this time, with justification for this decision supported by course materials.If any of the positions cannot be filled by the current candidate pool, describe why an external search is recommended.If any of the positions cannot be filled by the current candidate pool, briefly describe the qualities that you feel the Biotech recruiting team should look for in the external candidate for this position.Summary: Describe briefly to Mr. Barney why your group's recommendations are important for Biotech's future. Reference Page: (in APA format) Step 7: Submit the completed Report in the Assignment Folder. Submit the Succession Planning Report Part Two into your Group's Assignment Area and in Turnitin. One submission should be made per group.Other Required Elements:Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as "I, me, my, we, or us" (first person writing), nor is there use of "you or your" (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person. Contractions are not used in business reports, so do not use them. Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Direct quotes are NOT allowed if they are quotation from course materials. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.In-text citations should be included in ALL SECTIONS of the report, and should demonstrate application of the course material. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. Provide the page or paragraph number for ideas that are reference in all in-text citations.You may only use the course material from the classroom. You may not use books or any resource from the Internet.Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one's own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.
Finance and Accounting Case Study
. Introduction Provide a brief synopsis of the meaning (not a description) of each Chapter and articles you read, in your ...
Finance and Accounting Case Study
. Introduction Provide a brief synopsis of the meaning (not a description) of each Chapter and articles you read, in your own words that will apply to the case study presented.2. Your Critique Case Studies in Finance and AccountingMercy Hospital: A Case AnalysisAbstractThis is a case study which describes an account (names, other facts changed to preserve anonymity) in which an internal auditor in a hospital setting, due to personal biases and a lack of objectivity, performed a substandard audit of a capital asset acquisition and violated several standards of the International Standards for the Professional Practice of InternalAuditing as well as the Institute of Internal Auditors (IIA) Code of Ethics. Students use theStandards and Code of Ethics to form conclusions regarding shortcomings of this audit. TheInternational IIA Standards and Code of Ethics are online and easily read, with the Standards being twenty one pages in length and the Code of Ethics being two pages. The case is designed to be taught in one class period. Students are exposed to actual standards and required to employ the standards in their analysis of the case.Mercy Hospital - BackgroundMercy Hospital is a leading health-care provider and one of the oldest hospitals in the region.The 300-bed, acute-care facility is known for its quality of care and respected for their expertise and innovation in the delivery of health care. As a leader in cardiac, trauma, surgical, orthopedic, neurologic, and vascular and cancer care, Mercy Hospital offers patients the latest treatments by providing its medical staff, comprising more than 600 physicians, with the most advanced technology available. Mercy Hospital is one of eight individual hospitals comprising a hospital network located across seven states ranging from Pennsylvania to Mississippi. The eight hospitals have a network headquarters which provides many of the financial functions including internal audit services. Collectively, the hospitals are members of the Mercy Health Network. Management at each hospital is decentralized except all of the hospitals participate in a consortium to purchase medical supplies for a more competitive price than otherwise would be available.64-Slice CT ScannerThe 64-Slice CT Scanner is a new imaging medical device that helps physicians diagnose and treat a variety of medical conditions by providing a more anatomically detailed image of the patient’s organs. Older CT scanners have been used for years to study internal organs, bones, soft tissue and blood vessels. They are particularly useful in trauma situations to identify injuries to the heart and vessels, liver, kidneys or other internal organs. The scanner is also used to plan for surgery and monitor the treatment of tumors for cancer patientsHeart related maladies are all too common. The United States Center for Health and HumanServices reported that in the USA for the years 2017-2018, over 5 million people arrived in emergency rooms complaining of chest pain (United States National Center for HealthStatistics, 2016, p. 2). The new 64-Slice CT Scanner is judged to be faster and more reliable for diagnosing chest pain. It can evaluate a heart patient by capturing thousands of images of the heart in less than 5 seconds or capture images of the whole body in less than 30 seconds.The cost of these machines is generally expected to range from $1.5 to $2 million.Bidding on the 64-Slice CT Scanner can be a very competitive and costly commitment by vendors. They insist that Board approval be granted for the machine before final bids are submitted.The Audit ProcessMercy Hospital’s capital-asset procurement process for any single acquisition over $100,000 is to have a formal proposal submitted to the board of directors (BOD) who vote on its approval. If the proposal is approved, the funds are transferred to the respective hospital for eventual disbursement. The internal auditors are charged with following up within one year of acquisition to check the propriety of the purchase and disbursal of funds. Recently, a proposal for a new CT scanner was submitted by Mercy Hospital’s controller. The other hospitals were told to "wait and see" until the internal auditors could inspect the documentation of the acquisition and the operating effectiveness and efficiency of the new process before being allowed to submit their own proposals. Mercy’s proposal was the one of the larger proposals submitted over the past several years at a total of $1.625 million dollars plus approximately $25,000 for the labor and other necessary expenditures to remove the old equipment to permit the installation of the new scanner. The cost of the new scanner by itself was listed in the proposal at $1.3 million.The internal auditor assigned to the acquisition was Jack Jones. Jack had been with the network for over three years performing mostly operational audits (on existing processes), reviewing internal controls, and payroll and travel expenses. Jack believed that the procedures associated with this capital-asset audit would be simple and routine.This was not Jack's first visit to Mercy Hospital. In fact, Jack had performed an audit on the hospital’s payroll and travel expenditures only a year ago. Jack's recollection of the experience was not a pleasant one. He had several "confrontations" with the controller, mostly as a result of clashing personalities. While all the expense issues were easily resolved, Jack felt there was still an adversarial relationship between them and he was “on guard” for any “preemptive strikes” this time around.It was a long drive to Mercy Hospital so when Jack arrived a little late the day of his audit he was greeted by the controller with a perceived air of indifference and promptly led to a secluded and windowless office room. The controller calmly explained that he was extremely busy and would answer any questions at the end of the day. Jack merely nodded his head and sat down in front of several tall piles of invoices that the controller had furnished and represented the documentation supporting the purchase, set up, and testing of this new technology. Jack was somewhat surprised, fully expecting to see only a handful of invoices, but did not ask for any explanations. As Jack began looking through the myriad of statements and canceled checks he soon found one particular invoice near the top of the first pile which indicated that the actual price paid for just the machine itself was only $902,000!Jack's first reaction was to call the director of auditing. When he found that the director was out for the day and could not be reached, he decided to call the VP of Operations at corporate headquarters. Jack was critical of the controller in describing the seriousness of his suspicions based on this preliminary information. Jack didn't realize that there was a scheduled BOD's meeting that day and that the news would be passed on to the Board. The Board members were outraged over the alleged misuse of the funds and possible fraud.Jack was unaware that the controller was soon being lambasted by the chair of the BODs in a private conference call. Seconds after the call, the controller walked up to Jack and had only two words to say—“Get out." Jack was flabbergasted; he called back to Network’s HomeOffice only to receive a rather icy response from the Chair of the BOD's secretary suggesting that he return immediately. As Jack got into his car and drove back to the home office he wondered what he had done so wrong.PostscriptThree days later Jack was called in to the director of internal audit's office. The director told the story of how he personally visited Mercy Hospital the next day after Jack's visit and performed the capital-asset audit himself. The director found that there were a number of reasonable explanations for the differences in the original proposal and the actual expenditure. To begin with, the companies who sold the machine would not talk about discounting the price until they knew that the funds were available. Once the proposal was approved and the funds were authorized for disbursement, only then did the competing vendors begin slashing their prices because of competition for the sale. This is what drove the cost of the machine down from $1,300,000 to $902,000. Other accessories and services provided by the vendor reduced the initial list price even further by some $57,000. Training and warranty costs were not subject to discounting. However, there were several factors that mitigated some of these savings.It would take close to a month before the new machine became operational because no one really knew how difficult it was going to be to remove the old machine which had been embedded in the concrete floor (to minimize vibration). It was decided that to save time and costs, the new machine would be set up in a new room adjacent to the room for the older scanner. The new space would have to be renovated and new electrical connections installed.Since the hospital could not afford to shut down for any extended length of time, the new space had to be renovated before the older machine could be dismantled. Then, while the new equipment was being tested, the old scanner had to be kept running in its temporary location. During the time that both machines were running, machine operators and supporting personnel were asked to work double shifts in order to test and become familiar with the new scanner before closing down the old machine. This took longer than expected because Mercy’s technicians were not familiar with the new machine and had some difficulty with even minor start-up problems. Therefore, for the first two weeks, special outside consultants were hired to operate the scanner at the proper specifications. These additional and unexpected outlays were costly and brought the total to just under $1.4 million ($1.17 million and $230,000 for the renovations and other expenditures) which was still lower than the original estimate of $1.65 million. Even though the list price came in at a reasonable $902,000 (saving $398,000 and other discounts provided additional savings of $57,000), the renovations amounted to $230,000 and exceeded the original estimated renovation costs of $25,000. The director went on to explain to Jack that the reason for the abnormally large number of invoices was due to the renovation cost, additional labor cost associated with the new machine, and the cost of running both machines during the transition. As it turns out, Mercy’s controller actually did a commendable job in overseeing the project and keeping accurate records of the disbursements. In fact, the controller created a specialized installation guide that will probably save hundreds of thousands of dollars when the remaining hospitals install more of these machines. When the director was finished, he told Jack that unless he changed his attitude and re-considered what it means to be a professional internal auditor, he was likely to remain a payroll auditor for the rest of his career. The director told Jack to go back and read a basic internal audit text on interviewing techniques, the Code of Ethics and the Standards for Professional Practice. Jack still didn't understand. What was the director trying to say?CASE STUDY CHALLENGE1. Students should be asked to read the case and discuss all procedures done during this auditory.2. Comment on Jack's interviewing techniques. 3. What could Jack have done differently?4. What did Jack forget to do?3. Conclusion Briefly summarize your thoughts & conclusion to your critique of the case study and provide a possible outcome for the Finance department. How did these articles and Chapters influence your opinions about Managing finance and budgets?
Finance Discussion
Treasury bills and Treasury notes are an investment security issued by the U.S. government. A Treasury bill matures within ...
Finance Discussion
Treasury bills and Treasury notes are an investment security issued by the U.S. government. A Treasury bill matures within one year and investors typically roll over the matured Treasury bill and purchase another Treasury bill the same day. Treasury notes have maturities of up to 10 years.You are considering investing $50,000 in a Treasury bill that you will renew every 6 months or invest in a Treasury note that you will hold until maturity. Your investment time frame is 9 years.Current investment opportunity interest rates are 5% and are expected to increase to 7% in 6 months. Would you invest in the Treasury bill that you can rollover every 6 months and reinvest or leave your money in the Treasury note that will mature in 9 years? Discuss your reasoning.
week 4 Business Law
Negligence and Product Liability are two of our main topics for this week. Negligence is an “unintentional tort” becau ...
week 4 Business Law
Negligence and Product Liability are two of our main topics for this week. Negligence is an “unintentional tort” because it happens by accident. Product Liability arises when one is injured by a defective product.Consider the scenarios below. Choose one and determine if it describes negligence or product liability. Explain your answer and be sure to discuss the elements of any claims that may arise.Daisy is driving in her car when her phone chimes. She picks up her phone and sees a text from her friend. While responding to the text Daisy runs a red light and causes an accident.Janet just moved from Florida to Minnesota and is enjoying the scenery of a beautiful snowfall when she sees a person slip and fall on the ice on sidewalk in front of her house.Larry is a lumberjack. He decides to purchase a new chainsaw. The first time Larry uses the chainsaw the product malfunctions and Larry is injured.
University of Massachusetts Amherst Unique Coffee Brand Position Discussion
You are a small business person who plans to open a premium coffee shop, much like Starbucks. Your value proposition is pr ...
University of Massachusetts Amherst Unique Coffee Brand Position Discussion
You are a small business person who plans to open a premium coffee shop, much like Starbucks. Your value proposition is premium blend coffee from small farmers around the globe, a fun, informal environment for college students and others who might enjoy televisions, a funky atmosphere (paintings on the walls, workers wearing tee-shirts and shorts, cement floors, and used furniture for seating. Compose a discussion post that responds to each of the following prompts:Considering your unique brand position, the market, competition, and your goal of achieving brand awareness and premium image, how would you arrive at prices for your coffee? How important are the 4 Cs (costs, competition, customers, company strategy) for this product? Consider the pricing objectives and strategies (attached) - what are your objectives as a new shop and what is your pricing strategy (long-term)? Explain your rationale. What is your price tier (level) relative to your competition? Discuss your reasoning. Assume the following factors - the average variable cost for all coffee sold is 15%; fixed costs = $30 K/ month; How much coffee do you need to sell, at the prices you've set, to breakeven (i.e., cover all fixed costs) for a month? PLEASE USE THE STUDENT'S PERSPECTIVE TO FINISH THIS DISSICUISSSION . THANK YOU!
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