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ADMS 2511 Lecture Notes - Lecture 1: James A. Champy, Michael Martin Hammer, Customer Satisfaction

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School
York University
Department
Administrative Studies
Course
ADMS 2511
Professor
Mariovalteinos

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Document Summary

It is making our world smaller, allows everyone to communicate, collaborate, and compete (which levels the digital playing field) It enables organizations to survive in business pressures. It is a large investment over a long period of time. Organizations can use their platforms to develop new things (applications, products ) and customer service. Management information systems (mis): deals with the planning for and development, management, and use of information technology tools to help people perform all of the task related to information processing and management. Information technology (it): related to any computer based tool that people use to work with information and to support the information and information processing needs of an organization. Organizations must analyse the need for new is and justify the terms of cost and benefits: need is related to organizational planning and analysis of organizational performance with the competitors.

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Related Questions

How do organizations use blogs?

a.

To create virtual communities
b.

To build brands
c.

To develop relationships

d. Organizations use blogs for all these purposes.

Jeff is starting a new business blog and wants to be able to compete with established blog sites. He has asked for your advice. What should you tell him?

a.

Choose one topic and stick with it to give your blog stability.
b.

It is better to post long messages infrequently than to post short messages frequently.
c.

Never provide links to other blogs because your visitors might like those blogs more than yours.
d.

Use a commercial hosting site such as Blogger, Tumblr, or WordPress.

1 points

QUESTION 10

Alonzo has just been assigned to create a blog to use for market research and viral marketing. What advice would you give him?

a.

Scrutinize the blogosphere for buzz and for positive or negative postings about his organization and its products.
b.

Use a variety of hard-sell tactics to get the word out about his company’s products.
c.

Realize that blogs are useful for getting feedback only from customers, not industry experts.
d.

Alonzo should follow all these suggestions.

1 points

QUESTION 11

What is the most accurate statement about liability and legal issues related to text messaging?

a.

Spam is a concern only with e-mail, not with instant messaging.
b.

Companies cannot be held responsible if an employee gets into an accident while texting and driving on the job.
c.

Some organizations have instituted detailed digital-age e-policies, offer formal employee training, and use technology tools such as monitoring, filtering, and blocking.
d.

Because text messaging is so informal, messages sent or received cannot create legal liability for a company.

?? 1 Among the disadvantages of acquisitions are the expensivepremiums that are frequently paid to acquire a business. (True /False)



?? 2 According to the text, effective e-teams identified groupmembers with a proper balance of technical and interpersonalskills. (True / False)


?? 3 Since electronic teams (e-teams) seldom meet face-to-face, itis not important for them to be concerned with how to combineindividual contributions effectively. (True / False)



?? 4 Explicit knowledge is generally known to everyone in the firmand is not a critical concern of management. (True / False)

?? 5 Creation of new knowledge typically involves the continualinteraction of explicit and tacit knowledge. (True / False)



?? 6 A potential pitfall of a focus strategy is that focusers canbecome too focused to satisfy buyer needs. (True / False)


?? 7 Firms that compete on overall cost leadership are vulnerableif all rivals share a common input or raw material that contributesa significant amount to total costs. (True / False)


?? 8 The experience curve concept suggests that production coststend to decrease as production increases regardless of where anindustry is at in its life cycle. (True / False)

?? 9 A successful differentiation strategy lowers entry barriersbecause of customer loyalty and the firm's ability to provideuniqueness in its products and services. (True / False)



?? 10 Social capital is a source of strength to many firms. Firmsleverage their social capital in an effort to create competitiveadvantages. A firm's social capital is based on:
1) An employee's individual abilities
2) The relationships among a firm's employees
3) A firm's allocation of financial resources
4) An individual's knowledge



?? 11 The use of information technology (e.g., e-mail) hasincreased in recent years in many organizations. This has helpedto:
1) Communicate information efficiently
2) Make more effective use of time in every situation
3) Restrict social network growth
4) Create smaller social networks



?? 12 In a given market, key technology no longer has patentprotection, experience is not an advantage, and there is a growingneed to compete on price. What stage of its life cycle is themarket in?
1) Introduction
2) Growth
3) Maturity
4) Decline

Question 2

You, a recent auditor with a local auditing firm, are responsible for the audit of a new client, PresentShop, a retailer of electronic home and office equipment in Western Canada.

PresentShop has 14 locations across Western Canada. It specializes in providing customers with the latest technology in home entertainment electronics such as televisions and DVD players as well as top of the line office technology such as computers.

The business was started 15 years ago in Alberta by two brothers who are still the only owners of the company. The brothers paid themselves a management bonus in 2017 of $60,000. The business has grown as a result of excellent advertising, good locations, and reasonable prices based on the ability of the company to buy in volume. Each store has a high degree of security such as electronic bars and video surveillance.

The accounting for the stores is all electronically performed. The sales tills are downloaded every day to the main office in Calgary which performs the accounting for all of the stores. The main office also has the warehouse from which all inventory is shipped to the stores.

Business has been relatively stable but the company does have pressure from American competitors moving into Canada as well as another Western Canadian competitor, B&C Sound. As well, the business tends to fluctuate with the economic cycles so recent government cutbacks in B.C. have resulted in lower sales. As a result of a decrease in profits, the company requires a significant loan from a bank and the bank has requested audited financial statements. It is the first year that the financial statements have been audited. The bank intends to use the inventory as collateral for the loan.

PresentShop has provided you with the following financial information for the years ending December 31, 2017:

December 31, 2017

(‘000s)

Total assets

$48,900

Total revenues

$124,900

Total net income before tax

$23,500

Total net income after tax

$15,400

Required:

Assess inherent risk at the overall financial statement level. Conclude on inherent risk. Is it low, medium or high?

Assess control risk at the overall financial statement level. Conclude on control risk. Is it low, medium or high?

Conclude on detection risk and the level of substantive testing required.

Assess overall (planning) materiality

Question 3

Explain the approach adopted by auditors of identifying accounts and related assertions at risk of material misstatement. How does this approach help auditors to reduce audit risk to an acceptably low level?

Question 4

What is the relationship between materiality and audit risk?