Running head: CASE STUDY 3.3: SAKS FIFTH AVENUE Case Study 3.3: Saks Fifth Avenue Liberty University 13 September, 2009 Abstract The Saks Fifth Avenue case study concentrates on the human aspects of internal controls. Of note are Saks’ zero-tolerance policy of employee theft, anti-harassment policy and complaint procedure. Also, the case study highlights control activities in a major retail store. Finally, it questions what an auditor’s role is concerning employee’s work environment. Question #1 In your opinion, was Saks’ zero-tolerance policy for employee theft reasonable? Was the policy likely cost-effective? Defend your answers. The case presented only one instance when Fierro was caught stealing. Employee theft is …show more content…
Saks’ anti-harassment policy and complaint procedures provide guidance and behavior boundaries to promote effective and efficient use of employee paid time at work. The policy intends to not only provide the employees the best environment to maximize profits, but also keep employee actions within rules and regulations to avoid costly litigation and fines. If Saks’ did not have a complaint procedure, the supervisors would be able to regulate their departments, but very few could keep the supervisors in check. The complaint procedures allows every employee to regulate each other, resulting in conformity by all to the policy. Question #3 Identify five control activities that you would commonly find in a men’s clothing department of a major department store. Identify the control objective associated with each of these activities. Computer based cash registers: Such systems automatically record various types of relevant data. Examples include employee codes, items and quantity purchased, totals due, type of
1) Should Wal-Mart be expected to protect small businesses in the communities within which it operates?
I conducted a phone interview with, Joseph Hladiuk the store manager of the Macys in Robinson Township. Joseph has been the working at Macy’s for over 15 years and has been the store manager for about 5 years now. As the store manager, Joe is directly involved with some of the Human Resource functions and HR is a key component to their business because the organization thrives off of its employees.
Present day Federated consists of both Bloomingdale’s and Macy’s stores and operates in 34 states as well as Guam and Puerto Rico. While Bloomingdale’s and Macy’s provide both private and national brands and are similar in merchandising categories (men’s, women’s and children’s apparel, home décor, shoes, beauty, and accessories), they differ greatly in culture. Bloomingdale’s, being more upscale, targets consumers that are more concerned with trend and quality than they are price. Macy’s targets the more value oriented consumer and represents a broader Federated clientele. Macy’s represents 423 of the 459 Federated locations while Bloomingdale’s represents only 36 locations. Because I can
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The Supreme Court ruling of, 'Equal Employment Opportunity Commission( EECO) v. Abercrombie & Fitch Stores Inc, is a religious rights’ in the workplace case In 2008, a Muslim-American teenager with Palestinian origin by the name of Samantha Elauf, applied for a job as a salesperson at Abercrombie & Fitch kid’s store in her hometown in Oklahoma. Ms. Elauf is a devout practicing Muslim and believes her religion requires her always wear a headscarf. According to evidence submitted by the EECO on behalf of the plaintiff, the Assistant Store Manager who interviewed Ms. Eluaf, “told her she would call her…to…her know when her orientation was…but…Elauf never got a call, and her friend Farisa told her three days after the interview that the district
Problem: Bachand was particularly concerned about how best to motivate the managers of a corporate-owned store given that they did not share in its ownership. He wondered what control system features would make sense for the Corporate Owned stores?
Bloomingdale’s would not be as strong as it today without the help of healthy employees. Every day you make choices to live a healthier and happier life whether it is at work or home. As the president and CEO of Bloomingdale’s I am pleased to announce an added feature to the Bloomingdale’s Wellness Program. We have purchased a corporate membership with Planet Fitness, a free benefit for employees. If your spouse, domestic partner, or children wish to use the center they are not covered. This new feature is available to help you enhance your health, well-being, and productivity.
Panache Clothing Boutique requests a modern interior which encourages women to feel empowered yet beautiful, strong yet graceful and modern yet classic.
Mall of America has been very successful launching and maintaining a concept that most people did not
Standards, values, morals and ethics have become increasingly complex in a postmodern society where absolutes have given way to tolerance and ambiguity. This particularly affects managers in Human Resources, where decisions will affect people’s jobs and their future employment. This paper will look at the history of Wal-Mart and it will glance at the management style and Ethics of Wal-Mart towards it internal and external customers.
Wal-Mart is a world-wide active American retail trade company and currently the largest retail company in the world. Beginning in 1962, Wal-Mart has made the transition from a small firm in Arkansas to the largest employer with 3, 800 store units in the United States with record revenues today. But nevertheless, since Wal-Mart launched its online branch, it had to suffer from substantial setbacks from competitors such as Amazon.com or Ebay.
The case study starts off by introducing Tricia Monet and how she was hired by the company Personal Reflections as an assistant manager for the Sioux City Store. Tricia was a middle child that had come from a family that was very close. (Note: this probably led/taught her to want to get along with those around her) Tricia had received a bachelor’s degree in accounting and her only real work experience had come from an accounting firm job that she worked for less than one year. The organization had a very structured hiring and training program, however the company lacked any formal ongoing/follow-up training program. Personal Reflection hiring practices included not allowing the store manager
The control environment is what sets the tone for an organization and is the foundation for all other components of internal control. It provides discipline and structure and reflects the ethical values, integrity and competencies of the organization. The control environment is very important to effective internal control over financial reporting to an audit client like WorldCom, because good designs can prevent and detect frauds and errors. But because WorldCom had such a poor control environment, the company would require more testing for an audit. This shows that the board did not exercise oversight responsibilities over financial reporting or internal controls.
Fraud prevention is a concern to both small businesses and large corporations alike. Business owners place their trust into employees who are hired to perform duties that contribute to the success of the company. When that trust is broken, or ideally before this occurs, businesses must look to their internal controls in an effort to limit the opportunity for such malicious behavior. The purpose of this paper is to define internal controls, explain the purpose it serves in the business environment, and common internal control measures. Additionally, an example of internal control from this author’s employer will be discussed as well as an incidence of embezzlement found while researching this topic. Let’s first take a look at its definition and some examples.
For the most part, Victoria’s Secret remained fairly organized and easy to navigate. Clothing items were folded and stacked neatly or were hanging straight on a hanger. Items are sorted by size, with smaller sizes in the front or on the top and larger sizes in the back or on the bottom. All of these factors make the shopping experience a lot smoother for consumers. It is so difficult to find an item in the correct size if items are not sorted and all the sizes are mixed together. It forces the consumer to tediously look at each and every item’s tag for the size in order to find the right one. This is time consuming and definitely not enjoyable for consumers. However, we did not see this issue when