CCT224 Past Exam Answers and Extras

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Department
Communication, Culture and Technology
Course
CCT224H5
Professor
Tim Richardson
Semester
Fall

Description
CCT224 Exam Review – Exam Answers Exam 2011 Q1: Answer The corporate goal of Ubisoft is to be the most profitable video game company. How does Ubisoft reach that goal? By increasing Market Share, Innovation, Licensing. Market Share – Innovation – Licensing – Q2: Answer Balanced Scorecard Four Perspectives: 1. Learning & Growth a. Includes employee training and corporate attitudes towards individual and corporate self-improvement. b. Important in IT companies as knowledge worker organization depends on having brightest and best educated employees. Companies that include tutoring and classes vastly improve the learning and growth environment. 2. Customer a. How companies serve and satisfy their customers in competitive environments. b. Focus on issues such as CRM (Customer Relationship Management), CLV (Customer Lifetime Value), and Customer retention. These allow companies to maintain good relations with their customers through a long term. c. Using the influence of web based businesses to attract more customers. 3. Financial a. Instead of financial information, companies should focus more on ‘Intelligent’ information. b. Good examples are when companies carry out smart strategies such as acquiring other companies, or joining in a joint venture to develop some sort of technology. This gives shareholders the idea that the company could possibly raise their profit over the next five years due to their new innovations. 4. Business Process a. Refers to the internal business processes of a company. Metrics based on this perspective allow managers to see how well their business is running and whether their products/services conform to customer requirements. Q3: Answer Business Processes BPR (Business Process Re-engineering)  When a company looks at the way they ‘do things’. Companies look at all the different parts of an organization and thinks about how you can get all the departments to work more efficiently. Parts of re-engineering include improving customer service, cutting operational costs and becoming world-class competitors. JIT (Just in Time)  Production strategy that strives to improve a business’s return on investment by reducing in- process inventory and associated carrying costs.  This process focuses on helping a company with reduced setup time, improvement of flow of goods from warehouse to shelves, improved production scheduling, and smaller chance of inventory breaking/expiring. TQM (Total Quality Management)  Philosophy of management for continuously improving the quality of products and processes. This process consist of a company making effort to install and make a permanent climate in which the company is able to continuously.  However quality has costs associated with is, as the higher the quality, the more expensive a product can become, thus becoming less competitive.  TQM involves finding problems with products and constantly solving them, break down barriers between departments and staff areas etc. Q4: Answer Financial Ratios are calculations of how a firm measures activities. It becomes more difficult for investors and business partners to evaluate the "financial health" of a company when they don't have the ability to meet the executives and have probing discussions about what has been happening. International finance in the 2nd decade of the new millennium, ie 2010+, involves fast decisions about companies all over the world for international investors, government fund managers, stock traders etc. ratios help these investors and fund managers make decisions in order to have the opportunity to avoid losing money in companies that may have trouble, and make money with companies that are profitable now, and in the near future. In the absence of "going to the source" to find out how a company has been doing presently, and may do in the future, business executives have turned to a series of calculations, when taken together with other objective and subjective information, can give a better indication of a company's success or failure, than if you did not have this info. Financial Ratios by themselves will not tell you perfect information about a company - but if you have nothing else to go on, except numbers and stats about product, money spent etc., y
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