Saks Fifth Avenue Case Study Essay

Case Study 2: The Wal-Mart Way 1) Should Wal-Mart be expected to protect small businesses in the communities within which it operates?

Conclusion Mall of America has been very successful launching and maintaining a concept that most people did not

I. Introduction 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.

In 2013, the Department of Health and Human Services recovered four and a half million dollars from individuals and firms that committed fraud. Healthcare fraud regulations that require care providers to implement compliance and ethics initiatives allow the agency to accomplish this success. The regulations require healthcare organizations to develop

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 problems that JC Penney is experiencing have been brewing for years. Before Ron Johnson took over and accelerated its decline JC Penney was having difficultly maintaining a profit. There is no denying that JC Penney is not the retail giant that it used to be. However, when looking at the sales and revenues of the company they still manage to sell billions of dollars worth of merchandise to consumers. Therefore, even though JC Penney’s customer base has been shrinking, the ones that are left still hold considerable buying power. JC Penney still has an opportunity to save what was started over a decade ago. In order to make it profitable it is necessary to take a look at what has been causing the massive losses in the first place and address

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.

I.     Introduction 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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Therefore, money handling duties are separated from the record keeping duties when internal control of cash is needed (Averkamp, n.d.). In a typical setting, there should be a mailroom clerk who retrieves the mail, which is sent to the accounting department, who records the cash payment, then sent over to a controller, who finally and should immediately place into the bank for safekeeping. Internal control consists of methods and measures adopted within an organization to safeguard its assets, encourage employees to follow company policy, promote operational efficiency, and ensure the accuracy and reliability of its accounting records (Nobles, Mattison, & Matsumura, 2014). There are five components of Internal Control CRIME: Control procedures, Risk assessment, Information system, Monitoring of controls, and Environment. Control procedures are the policies enforced in company’s infrastructure. Risk assessment deals with the company’s ability to process and analyze their data. Information system is the technology that limits individuals from falsifying data records. Monitoring controls is simply supervising that financial data are accurately being recorded. Control procedures are those that set the tone of the organization such as values and best practices (Mercer University,

2. 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.

Problem: Panache Clothing Boutique requests a modern interior which encourages women to feel empowered yet beautiful, strong yet graceful and modern yet classic.

My example of a company that utilizes most, if not all the controls listed in chapter 5 is Pep Boys Automotive Retail. The Pep Boys business is one of the premier automotive retailers with stores located throughout the United States. Given their volume, I believe Pep Boys execs strictly enforces the company’s policies with their management staff to ensure an internally structured environment. One of the most important control methods that Pep Boys should use is to hold their managers accountable for financial profitability,

COSO consider "the control environment sets the tone of an organization, influencing the control consciousness of its people. It is the foundation for all other components of internal control, providing discipline and structure" (COSO, 2015). Internal control has a different definition, depending on the perception of the person; as a result, the outcome of misperception and different expectations cause issues within the organization. It is necessary that organizations establish a clear definition the service they need for different people, in addition to creating provisions against which business and other entities, regardless of size or classification, have the ability to evaluate their control systems and conclude how to improve