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Midterm Detailed Lecture Notes Review Crucial concepts, simplified and concise.

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Wilfrid Laurier University
Jim Mc Cutcheon

Important Lecture Notes Business Success Factors - Achieve financial performance - Meeting customer needs - Providing quality products and services - Encouraging innovation and creativity - Gain employee commitment Stakeholders – individuals/groups who depend on a company for personal goals. Primary – Owners, customers, employees Secondary – Suppliers, Creditors, Communities, Government, Society If unclear about success factors, and direction, the firm can potentially go bankrupt. Management’s Primary Objective – Devise and implement strategies that will allow the organization to achieve critical success factors. Bonds/Debentures – Large corporations use this to finance operations, and securities. - IOU kind of note from the government. ABC 7 of 30 - 7% Interest Date of Maturity, 2030. We always assume bonds are 20 years in BU111. - First in line when companies fall apart, and have to liquidate their assets. o Order of Liquidation  Secured Creditors (Banks, Bondholders)  Preferred Creditors (Gov)  Unsecured Creditors (Suppliers, Employees, Debenture Holders)  Preferred Stockholders  Common Stockholders - Must pay in full before moving onto the next group. - Mortgage bonds – real property land building - Collateral Trust bond – Stocks and bonds - Equipment Trust Bond – machinery and equipment - Debenture – no collateral, bondholders are unsecured Preferred Shares - Hybrid between bonds, common stocks. - Fixed annual rate of dividends - No date of final maturity, can sell anytime you want - Liquidation Right
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