Individual Assignment Essay
The trips were often times long and very dangerous resulting in very few people venturing too far from the area they grew up in. Of course this is on land. Many people traveled great distances on the oceans. As time progressed and inventions came about the modes of transportation began to change. Locomotives became more prevalent and as the railroads spread across the nation more and more people moved in ever larger groups. This had become the preferred method of moving from one place to another over long distances.
This invention had helped to speed up the American spirit of freedom, which means not being held down in one lace or having the freedom to set out on your own path to create your own future. A series of inverters in the 19th century had visions of new forms of personal transportation. These men lived in many different parts of the world. Paul Daimler in Canasta, Germany is credited with the first one to invent a working automobile. Carl Benz of Anaheim, Germany built his in 1886. ( http:// mew’. Ordain. Com/history. HTML) Henry Ford built his first automobile in 1896. Http://www. History. Com/this-day-in-history/ford-motor-company-incorporated) David Buick built the first automobile to be called a Buick between 1899 and 1900. But Buick traditionally dates its beginnings to 1903. (http://www Of course over the years many others came along. Chevrolet, Oldsmobile, Plymouth, Cadillac and several more that we still know of today. From 1896-1930 there were 1800 automobile manufactures in the united states. Cars like Zip (1913-14), Hallway (1905-22), Snowmobiles (1899-02), Stanley Steamer (1896-24). Why am I telling you this?
Since its inception the automobile industry has been a very competitive market. At first there were very few barriers for entry. A little time and money and of course know how and anyone could enter the auto market. In those early days all manufactures were strictly a geographical based company, meaning there cars were bought and used a relatively close distance from where they were built. As each manufacture grew and became actual company’s they began to have more and more of an impact on larger and larger areas because they could now ship their automobile farther away.
The manufactures that couldn’t compete with this began to close their doors and when the great depression struck only the strong survived to better times. The company that I have chosen to do my paper on is Chevrolet. Chevrolet came around in 1911 and was started by William Duran and Swiss racer driver LOUis Chevrolet. It was built to compete with Henry Ford’s Model T. Chevrolet has a long history of leading the industry in sales for many years. As of late they have been struggling with their market share. As of 2011 Chevrolet had 37% of the market share in the Unites States.
During the sass’s and 9(Yes Chevrolet mainly used the Cost Leadership Strategy. During this time the auto industry was going through a transition and starting to use more and more technology. The technology being used was very rudimentary by today’s standards and was used almost all across the board. Meaning there was very little other than styling to differentiate the different auto manufactures. During this time Chevrolet and its parent company General Motors shifted most of their effort to their pick-up trucks.
The reason for this was that with the car market the Federal Government had mandated many new laws governing these cars, ii placement of certain items like gas tanks, fuel mileage, safety features just to name a few. Pick-ups were considered different because they were built to be used in a utilitarian way, not just to haul people around, so the rules and laws were more relaxed for these vehicles. Because of his Chevrolet could build these vehicles differently than the other manufactures. This is also the same time that Pick-ups really came into their own.
They were no longer rough riding uncomfortable bricks on the road. Chevrolet also knew that not everyone would want the new “bells and whistles” that they offered on their vehicles so they also offered them anyway the customer wanted them. Fully loaded with all the fancy things or bare bones with no frills. This is where Chevrolet gained a real Competitive Advantage over the other manufactures. With the introduction of their Independent front suspension on all of their our wheel drive vehicles in 1988 the ride became even smoother.
Because this suspension design and many of the parts where used on all truck lines they were able to lower the cost of producing their vehicles and passed those savings on to the customers. Chevrolet and General Motors sold many trucks in North America to not only businesses that would use these trucks but also to regular people that needed a “box” to carry their things around in but also wanted the smooth ride of a car. Today, with innovation coming so fast for vehicles it is getting harder for manufactures to be on top of the “newest” trends.
How an they differentiate themselves from the others? Time was that automotive designs changed about every five or six years and when they did it was usually a body design that was changed. Today technology is advancing at such a fast pace that manufactures are having to design their new vehicles with ways that this new technology can be added during the body style time line without having to change the body design which come with great cost that will need to be passed along.
Differentiation Strategy can be very hard with all of these factors. Everyone loves the big things that come out that help us in one way or another, but sometimes it’s the little things that really help. Several years ago Ford started putting built in steps and a hand rail in the tailgates of some of their trucks. Just this year Chevrolet put integrated steps into the corners of the rear bumper. Anyone who has had to crawl into the back of a pick-up truck has wished for something like this for years.
It doesn’t have to be a big innovation like a navigation system or built in vacuum cleaner that will draw buyers to certain products. In the early 1 980 General Motors had a manufacturing plant in Fremont California that was struggling with some pretty sever personnel robbers. They ultimately closed the plant but a couple of years later in a joint venture with Toyota, Another auto manufacture, the plant reopened. The entire work force was sent to Japan for intense training and as a result the plant became one of Chevrolet best functioning plants. Http://move. NP. Org/templates/story/story. PH? Story=125229157) Despite the fact that the automotive industry is a very competitive market sometimes a joint venture with another manufacture can be a recipe for success. Some of the big manufactures own other manufactures and share products like Ford and Mazda r for several years, General Motors and ISSUE there have been and are some that are in corporate partnerships. Chevrolet and Suzuki some to mind. The Gee Metro was a rehabbed Suzuki Swift built in Japan and shipped to the US.
This proved to be a good strategy for Chevrolet because it helped them to enter into the small car market and hone their skills and refine their cars and options for those cars. If I could make one recommendation to Chevrolet as to which strategy that they should use or in their case get back too, it would be that they need to get back to the cost leadership strategy. In the past when a customer could order a vehicle the way that they wanted it Chevrolet possessed a large market share.
Today when a customer orders a vehicle they are stuck with a “bundle” of options. The customer might want this option but not the rest in that particular bundle but they are stuck with all of them. Because of this “bundling” of options the price of the vehicle goes up and there might be some customers that look elsewhere for what they want not what the manufacture thinks they need at a higher price than the customer is willing to spend. Individual vehicles made or a niche segment of the market are this way too.
Several years ago Chevrolet came out with the USSR which was a new version of their 1953 Chevrolet Pickup and Ford reintroduced their Thunderbird which was a new version of their 1955 Thunderbird. These two vehicles where intended for the older baby boomer population that the manufactures figured would love a hot rod version of the classics that were on the road when they were young. The problem was that both Chevy and Ford priced these vehicles very high because of their “Bundle” of options on the one hand and the total lack of other options on the other.
Adjusts the payroll register
Individual Assignments from the Text Resource: Modern Auditing Prepare written answers to the following assignments: Chi. 16: Comprehensive Question Control Activities in Payroll Processing Chi. 16: Comprehensive Question Potential Misstatements/Tests of Controls – Payroll * * 16-33 (Control activities in payroll processing) As part of the audit of Manor Company, you are assigned to review and test the payroll transactions of the Galena plant. Your tests show that all numerical items were accurate.
The proper hourly rates were used, and the wages and deductions were calculated correctly. The payroll register was properly footed, totaled, and posted. * Various plant personnel were interviewed to ascertain the payroll procedures being used in the department. You determine that * 1. The payroll clerk receives the time cards from the various department supervisors at the end of each pay period, checks the employee’s hourly rate against information provided by the personnel department, and records the regular and overtime hours for each employee. * 2.
The payroll clerk sends the time cards to the plant’s data processing department for compilation and processing. * 3. The data recessing department returns the time cards with the printed checks and pay- roll register to the payroll clerk on completion of the processing. * 4. The payroll clerk verifies the hourly rate and hours worked for each employee by comparing the detail in the payroll register to the time cards. * 5. If errors are found, the payroll clerk voids the computer-generated check, prepares another check for the correct amount, and adjusts the payroll register accordingly. 6. The payroll clerk obtains the plant signature plate from the accounting department and signs the payroll checks. * 7. An employee of the personnel department picks up the checks and holds them until they are delivered to the department supervisors for distribution to the employees. * Required * a. Identify the shortcomings in the payroll procedures used in the payroll department of the Galena plant and suggest corrective actions. * 1. Payroll hours are not approved by production management. * 2. Lack of segregation of duties in payroll department. * 3.
Personnel department has access to payroll checks. * b. Identify the weaknesses, if any, that you believe are material and the reasons why. * ECMA (adapted) * 1. Timescale should be signed by employee and supervisor. * 2. One payroll clerk should prepare payroll data for processing department. Another payroll clerk should reconcile the payroll register to the time cards. * 3. A payroll supervisor should authorize the void of checks with errors and subsequent preparation of manual replacement. * 4. Checks should be held in secured storage until distribution. 5. Checks should be distributed by treasurer office * 16-35 (Potential misstatements/tests of controls?payroll) The following questions are included in the internal control questionnaire on control reoccurred for payroll transactions in the Penn Company: * Required * a. Identify a misstatement that may occur if a No answer is given to each question. * b. Identify a possible test of controls assuming a Yes answer is given to each question. (Present your answers in tabular form using separate columns for each part. * * (a) Misstatement I * (b) Test of Controls I | * Are pay rates, payroll deductions, and terminations authorized by the personnel department? I * Pay rates may increase or decrease without authorization. Deductions may be incorrect. Terminated employees may remain on the payroll. Inquire/ observe procedures for authorizing pay rate changes and deductions. Confirm deductions with IRS data. Examine termination notices. *21 * Are time clocks and clock cards used? I *Employees may be paid for hours they did not work.
I *Observe employees clocking in and out. * Is there supervisory approval of time worked by each employee? I Employees may be paid for hours they did not work. I * Examine time tickets for supervisor approval. | *4 | * Are payroll checks signed and distributed by treasurer office personnel? I * Checks may be distributed to the wrong person, terminated employees, or a fictitious employee. I *Witness payroll distribution. Examine employee master file. I * Is there internal verification of payroll checks with payroll register data?
I * Processing errors may occur in payroll recording. * Observe data entry procedures. Review exceptions and control report. * 6 | * Are unclaimed wages controlled by a treasurer’s office employee? I * Unclaimed wages may be misappropriated. I * Compare receiving form against unclaimed checks. | *7 | * Is access restricted to personnel and employee earnings master files? I * Unauthorized changes may be made to personnel and payroll data. I * Examine who has access to personnel and employee earnings master files I * Are hiring authorized by personnel department?