Financial Management
Hanft, Adam. (Oct 2003) "The Zentrepreneur." Inc. Magazine. Retrieved 15 Mar 2007 at http://www.inc.com/magazine/20031001/zentrepreneur_Printer_Friendly.html
This article provides a refreshing profile of what it calls the second type of entrepreneurs, what it calls a Zentrepreneurs, who may not have always known what enterprise was their reason for being (unlike the first, highly planned kind), but who have "a wide-angle view of things" and are processing and scanning" the commercial environment "all the time" (Hanft, 2003). Phil Suarez is one of the leaders of the culinary world in fine dining. His most recent venture is a high-end Asian restaurant named 66, and 66 deploys the type of Asian fusion cuisine that takes even the most jaded palates by surprise. Yet although Suarez has an empire, but it is an empire without a plan.
On one hand, it is somewhat frustrating to read this article, although the account of the meal had by the author and the Zentrepreneur is certainly entertaining. How is it possible to find feasible advice from the career of a man who seems to take whatever life offers him? However, it provides important instruction how simply being responsive to the changing needs of the marketplace and tastes, without obsessing can be financially fruitful. The lessons of Suarez's career seem especially apt for entrepreneurs in the hospitality industry, where consumer's tastes may be very fickle. Once upon a time, not so long ago, the idea of upscale Asian food, as opposed to take-out, would have been unthinkable. However, Suarez, despite his innovation and emphasis on the unique, is not averse to altering even his 'whatever' approach, given the demand for franchising upscale restaurants, as people everywhere want to sample a bit of elegance and luxury. According to the article, one day Suarez suddenly though: "Imagine if we had one formula.' Suarez recognizes that a standardized, scalable restaurant is more saleable than a collection of quirky, individualistic culinary marvels," hence his new idea of embarking into hotel chains as well as chains of his most popular restaurant Prime " (Hanft, 2003).. His willingness to constantly shatter his own old paradigms demonstrates why Suarez has sustained cranky restaurant reviewers and the upswings and downswings of a volatile industry.
Financial Management of Not-For-Profit Organizations: Generally, financial management of not-for-profit organizations is similar to the process of financial management in the profit making sector in several aspects. Nonetheless, there are several major differences that contribute to a different focus of a not-for-profit financial manager. In the commercial sector, the for-profit enterprises mainly focus on capitalizing shareholder value and overall profitability. On the contrary, not-for-profit organizations have the basic aim of providing
Financial Management Fundamental Decisions in Financial Management In financial management, there are three fundamental decisions, which are central to capital budgeting, capital structure and working capital management. Capital budgeting refers to the process of planning and managing the company's long-term investments. Capital structure refers to the particular mixture of long-term debt and equity a company utilizes to fund its functions. Working capital management refers to the company's short-term assets, which may include
Financial Scandals and Management Financial Management Management Financial Actions, Controls, and Decisions Financial Scandals and Management Following the rise of financial scandals in the recent past, external and internal audits are carried out to review the management's financial controls and actions, and keep tab of the outside and internal auditors. However, despite the best efforts, accounting scandals like the Cendant Corporation's $300 million bogus revenue indicate that external auditors and managers are not doing
The financial information these directors and managers require is often highly specific to their functional departments' goals and objectives. The director or senior manager of the operations and production departments will require variance analysis of costing, thorough analysis of supply chain costs and the cost of quality management and compliance management (Kivijarvi, Saarinen, 1995). These costs are critical to each of these directors ensuring a consistent level of conformance
(2009). Google's Big IPO, Five Years Later. [Article]. Wall Street Journal - Eastern Edition, 254(40), C3. Davis, H.Z., & Peles, Y.C. (1993). Measuring Equilibrating Forces of Financial Ratios. The Accounting Review, 68(4), 725-747. Google Inc. (2012). 2011 Annual Report. Mountain View, CA: Google Inc. Kirby, J. (2009). How Google really does it. (Cover story). [Article]. Canadian Business, 82(18), 54-58. Lee, M.-j. (2010). Measuring the Usage Effects of Tying a Messenger to Windows: A
Financial Management for Nurses The modern healthcare industry is extremely labor intensive. To be effective, a modern nurse manager must balance patient care vs. staffing, procedures vs. patient load, and fiscal budgets in line with appropriate levels of care. Nurses are expected not only to understand the organization's fiscal concerns, but to manage them as well. While fiscal dollars spent on human resource management are the larger portion of the health
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