According to the textbook, how have Moo-Koo Chung of Hyundai and Jim McIngvale of Gallery Furniture, made their respective companies so successful?
What will be an ideal response?
Chung is famous for turning Hyundai’s image around from being a shoddy manufacturer of autos to being a challenger of Toyota for leadership in J.D. Power’s quality rankings. Chung expanded Hyundai’s quality department from about 100 to 1,000 employees. Chung is so obsessed with quality he’s known to take the unusual step of modifying a car’s design midway through its life cycle. He wants employees to be concerned about quality so that they feel good about the cars they make and customers want their cars.
McIngvale is famous for his enthusiastic approach to motivating and rewarding his workers. McIngvale’s Gallery Furniture sells more than $180 million worth of furniture per year, more furniture than many chain stores. He does this through an unrelenting focus on developing his human resources and rewarding people for their efforts.
You might also like to view...
An auditor typically sets inherent risk for intangible assets at this level:
A. moderate. B. high. C. zero. D. low.
Stone's gross pay for the week is $1600. Stone's year-to-date pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6% and that Stone's year-to-date pay has not yet exceeded the $7000 cap. What is the amount of state and federal unemployment tax that his employer must record as payroll tax expense and pay to the federal and state governments?
A) $225.84 B) $215.20 C) $119.20 D) $96.00
A sale on March 21 with terms of n/10 eom is due to be collected by
A) April 30. B) March 31. C) April 10. D) April 1.
Why would a firm prepare pro forma financial statements?
a. to ascertain whether operations will generate sufficient cash flows to finance expenditures on long-term assets or whether the firm will need to borrow more b. to analyze the effect of a change its product lines or pricing policies and the impact on rates of return. c. to project future financial statement amounts for an acquisition target to ascertain the price it should pay d. all of the above e. none of the above