Capstone
Capstone Recap
1. The Research and Development (R&D) Department invents new products and changes specifications for existing products, improves size and performance repositions a product on the Perceptual Map, the age of the products and the reliability (MTBF rating) of each product.
2. The Marketing Department is concerned with the 4 P’s – product, price, place and promotion, and is in charge of sales forecasting. Promotion and sales budgets affect customer awareness and accessibility. They also affect the customer survey score. Accurate sales forecasting is a key element to company success.
3. The Production department determines the number of units to produce for the upcoming year, purchases the capacity/new facilities to build existing and new products, automation levels (the higher the automation level, the longer it takes to complete an R&D project) and controls the workforce complement percentage.
4. The Finance Department is concerned with five issues:
◦ Acquiring the capital needed to expand assets, particularly plant and equipment through Current Debt, Stock Issues, Bond Issues (Long Term Debt), and Profits.
◦ Establishing a dividend policy that maximizes the return to shareholders.
◦ Setting accounts payable policy and accounts receivable policy.
◦ Driving the financial structure of the firm and its relationship between debt and equity.
◦ Selecting and monitoring performance measures that support the strategy.
5. The Human Resources Department addresses three areas:
◦ Complement: The number of workers in the workforce. Needed Complement is the number of workers required to fill the production schedule without overtime.
◦ Caliber: The talent of the workforce, which results in higher productivity and lower turnover.
◦ Training: The time workers spend in training each year. Training leads to higher productivity and lower turnover.
6. The TQM (Total Quality Management)/Sustainability initiatives) Department can reduce material, labor
1. The Research and Development (R&D) Department invents new products and changes specifications for existing products, improves size and performance repositions a product on the Perceptual Map, the age of the products and the reliability (MTBF rating) of each product.
2. The Marketing Department is concerned with the 4 P’s – product, price, place and promotion, and is in charge of sales forecasting. Promotion and sales budgets affect customer awareness and accessibility. They also affect the customer survey score. Accurate sales forecasting is a key element to company success.
3. The Production department determines the number of units to produce for the upcoming year, purchases the capacity/new facilities to build existing and new products, automation levels (the higher the automation level, the longer it takes to complete an R&D project) and controls the workforce complement percentage.
4. The Finance Department is concerned with five issues:
◦ Acquiring the capital needed to expand assets, particularly plant and equipment through Current Debt, Stock Issues, Bond Issues (Long Term Debt), and Profits.
◦ Establishing a dividend policy that maximizes the return to shareholders.
◦ Setting accounts payable policy and accounts receivable policy.
◦ Driving the financial structure of the firm and its relationship between debt and equity.
◦ Selecting and monitoring performance measures that support the strategy.
5. The Human Resources Department addresses three areas:
◦ Complement: The number of workers in the workforce. Needed Complement is the number of workers required to fill the production schedule without overtime.
◦ Caliber: The talent of the workforce, which results in higher productivity and lower turnover.
◦ Training: The time workers spend in training each year. Training leads to higher productivity and lower turnover.
6. The TQM (Total Quality Management)/Sustainability initiatives) Department can reduce material, labor