The control problem is a sharp loss of control where control once existed. Sales process such as the one shown in above system is not always a consistent and a scalable procedure. Despite the enormous amount of knowledge currently available to the sales professionals in this system, I believe some control problems should be clarified. The management of any agency is required to develop a control system which is tailored to its organizational resources and objectives. It is important for all the controls to function together and should not bottleneck operations. Moreover, an effective system should provide factual data that is reliable, useful, consistent and valid. The controls should also be easy and simple to understand. The most likely problem areas in this system are likely to be found in the E-commerce department and the shipping department. In the E-commerce department, orders from the customers are likely to be manipulated, by the experts working in this unit without the company knowing. Shipping department can also be a fraud point; this is because the professionals working here may conspire to ship excess orders since there is no system which evaluates shipped orders.
Accounting software packages help companies manage their cash flow and most notably it allows organizations to monitor their finances. With computerized bookkeeping companies can create and maintain their financial records continuously. Arrow Energy Ltd is one of the first companies in Australia to adopt accounting software packages in their system. First, they started with a commercial accounting software namely QuickBooks during the companys early stages. This particular software enabled them to create customized functions to fit their specific needs. Since QuickBooks included graphs as well as reports about the business progress, the management of Arrow Energy Ltd was able to determine the state of the business. However, as the business grew to large organization operations turn to be more complex, and the QuickBooks software was unable to evaluate all operations of the business. Therefore the companys management decided to acquire an enterprise accounting software which will integrate accounting with other assistance provided by the software such as business intelligence, project planning, and workflow management. One of the main advantages of enterprise accounting software is that it follows a multi-tier protocol whereby it includes a request for data from product demonstrations, software vendors and most interestingly it maintains communication with other organizations that use the software (Dean, 2015). This software is comprised of some modules such as accounts receivables, accounts payable, general ledger, payroll, and billing.
As stated earlier, Arrow Energy Ltd is an Australian oil and gas company. Oil and gas industry in Australia is ever growing, and this is attributed to its broadening market size. Studies show that Australia is emerging as an undisputed global oil and gas epicenter (Goldberg, 2012). In fact, most Australian companies including Arrow Energy Ltd are making substantial progress towards cementing their reputation as the world leading the industry with a lot of cutting edge technologies such as the implementation of the state of the art accounting systems. In recent years, Arrow Energy Ltd has expanded its refineries to meet the increasing petroleum product demand. The current market size of the company is valued at over five billion dollars per annum and is expected to increase by approximately three percent by 2020. In this generation, crude oil is one of the essential resources in everyday life, and the demand is expected to increase as the world population increases. The Arrow Energy Ltd exports its products to China, Japan and Korea and some parts of Europe and North America. It also sells its products domestically, and the demand is rapidly growing due to the recent technological advancements.
Russian oil and gas companies are ranked the top in the oil and gas industry, and they have been on top for a long period now. Competitive advantage stems from the many discrete activities an organization performs in delivering and generating value. Every event an organization engages in contributes to its relative cost position and creates a basis for differentiation. These Russian companies have created a better public reputation and image both internationally and nationally. Moreover, they have created multiple access routes to new markets including investing in emerging economies. In highly competitive settings, incisive market assessments often help agencies capitalize on capital investments, growth options, and new technology introductions. A lot of top performing companies have mastered the art of delivering world-class market research, tangible results and insightful analysis by employing experienced industry experts who specialize in defining driving forces, global competition and market structures. These companies have also been able to assess newer technologies including accounting software which enables them to develop new products and tailor them to suit the customer needs. Top organizations have also managed to combine proven management processes and tools with a high degree of technical competency to help their customers identify sources of technology value and most significantly transform them into profitable growth. They have also been able to h...
If you are the original author of this essay and no longer wish to have it published on the collegeessaywriter.net website, please click below to request its removal:
- Essay on Management Theory: Analyzing and Management of the Situation
- Paper Example on the Entrepreneurial Marketing Management: Second Home Restaurant
- Essay Example on Risk Management Methods
- Organizational Behavior Case Study
- the Role of Service Quality on Customer Loyalty of the Islamic Banks in Palestine - Paper Example
- Management of Food and Beverage Operations - Paper Example
- Intellectual Property and Trade Secrets - Essay Example