The company deals with diversified foods and beverages that give the company a competitive advantage over its rivals. Market orientation is very important to Kraft foods in providing the suitable structure that the company can effectively attain its goals and objectives.
Kraft adopting the marketing orientation strategy can plan ahead in ensuring the organizational goals are met. Kraft Company should also take advantage of their brand recognition and invest in research and development so as to adjust their new products and services. That statement alone proves he is ethically responsible.
This attribute leads to groups within the organizations acting in good faith. The management of Kraft must ensure that its workers can understand what is required of them and be able to act accordingly.
Another area where technology was applied to our food production process was through crops. The company can adopt the mobile technologies such as Wi-Fi in advancing its service delivery. In both years, Frank Pollard was the audit supervisor assigned to the Doughtie's engagement.
This can help the organization to maximize its revenues.
In his review of the senior's workpapers, Pollard either did not notice the numerous differences between the count sheets and the computer listing of Gravins' inventory or chose not to investigate those differences.
Connecting branding, creativity, and intellectual property strategy. Give at least 3 examples from the documentary. People in the company need to be encouraged to communicate freely with other staffs and supervisors, so as to enhance the organizational performance.
What audit procedure or procedures might have prevented Nashwinter from overstating the division's year-end inventory. Motivation can be in the basis of rewards to the best performing teams. The company uses many incentives to promote its products and expand its market.
He advised his client, Monsanto, on GUM labeling. Focusing on the marketing strategies and financial gains may not effectively help Kraft company in attaining its goals. At last report, Nashwinter still worked in the food distribution industry. Essentially, communication and integration is not absolute until feedback is provided by the other party provides.
As stated In the film, there Is too much centralized power. The workers have the chances to development themselves proficiently from the efficient team that is created within the business.
Corporate governance is indispensable to Kraft foods as it provides the suitable framework that the corporation can effectively achieve its goals and objectives. Following the division's physical inventory, the audit senior on the Doughtie's engagement could not reconcile the quantities for numerous items listed on the inventory count sheets with the quantities shown on the computer printout that summarized the details of Gravins' year-end inventory balance.
CSR and corporate governance contribute positively to the organization performance. It also helps an organization to evaluate the attractiveness of each market subdivision and select the market segment that have the potentiality of providing better returns in the future. Conclusion Kraft has invested huge capital in branding as well as the advertising of the products through the use of online advertisement.
With each passing year, Nashwinter had to fabricate larger amounts of fictitious inventory to reach his profit goals. First, inventory was the largest line item on the Doughtie's balance sheetaccounting for approximately 40 percent of the company's total assets.
After researching the markets, Kraft Company should ensure that the product yields greater client satisfaction, and the products can increase the marketing effectiveness. The senior notified Wilson of the problem and wrote Nashwinter a memo asking for an explanation. The SEC subsequently criticized Wilson and Pollard for their roles in those audits, particularly for their failure to rigorously audit Doughtie's inventory account.
Finally, the SEC noted that Gravins' inventory increased rapidly during and By inflating his monthly inventory balance, Nashwinter lowered his division's cost of goods sold and thus increased its gross profit.
The Gravins Division was essentially a large warehouse that wholesaled frozen-food products to retail outlets on the East Coast. Nashwinter testified that he often made up excuses to account for missing or misplaced inventory and that the auditors apparently never double-checked his explanations.
Instead, he saw his actions simply as a solution to a short-term problem:. Feb 17, · _KRAFT_FOOD_CASE_STUDY. Advertisements.
Like this: Like Loading Related. Previous Article Development of a Specialized Search Tool for Microbiology. Next Article Project 2. Leave a Reply Cancel reply.
Enter your comment here Fill in.
Genera Case Study 1: General Mills Inc. Understanding Financial Statements Group 5 Summary This case overall probes into 3 basic financial statements of the company and management’s view as well as auditors comments on it.
Case (Doughtie's Foods, Inc.) In the late s, William Nashwinter accepted a position as a salesman with Doughtie's Foods, Inc., a publicly owned food products company headquartered in Portsmouth, Virginia.1 The ambitious. Doughtie’s Foods, Inc.
William Nashwinter was appointed as a salesperson in the Doughtie’s foods inc.
in the late s. He was a young and ambitious man. His hard work soon promoted him to a general manager position in the Gravins Division of Doughtie’s.
It was a large warehouse which wholesaled frozen food products to retail outlets. Auditing Case Study: Case (Doughtie's Foods, Inc.) Q1 and 2 Case (Doughtie's Foods, Inc.) In the late s, William Nashwinter accepted a position as a salesman with Doughtie's Foods, Inc., a publicly owned food products company headquartered in Portsmouth, Virginia.1 The ambitious young salesman impressed his superiors with his hard work and dedication and was soon promoted to.
CASE Doughtie's Foods, Inc. In the late s, William Nashwinter accepted a position as a salesman with Doughtie's Foods, Inc., a publicly owned what are the answers of the 4 questions.Doughtie foods inc case study