1,847
19
Essay, 1 pages (250 words)

Management and universal electric flashcard

Galvor Company is a small fabricator of electronic equipment that was acquired by Universal Electric Company in 1974. Galvor was required to comply with Universal Electric’s management control system of submitting tedious annual business plans accompanied by a series of reports periodically.

The business plan served as a standard for unit manager’s performance. The financial reporting employed by Universal Electric has been beneficial in planning, forecasting and controls as experienced by the company. Universal Electric believed that the same will hold true for Galvor Company. Galvor at the start, as would any firm faced with drastic changes, resisted the new system and found it time-consuming and costly; especially since they have been used to preparing financial statements and reports only once a year. Required reports were not submitted on time, employees proved to have insufficient skills and know how, and the cultural and language differences began to take its toll.

However, through time, Galvor employees began to understand and appreciate the reports they made. The imperative to assimilate Universal Electric’s planning system with Galvor Company is a sound decision based on the necessary benefits for the mother company. Universal Electric’s geographically scattered organizational set-up needs this kind of system in order to keep track of its profits, assets and investments. However, it should also be considerate of Galvor’s “ immaturity” and woes. Universal Electric should be steadfast in assisting in the training and development of Galvor employees.

Necessary funds and man-power should be employed. Universal Electric should come up with a better plan for company acquisitions and transition since control is obviously important to them.

Thank's for Your Vote!
Management and universal electric flashcard. Page 1
Management and universal electric flashcard. Page 2
Management and universal electric flashcard. Page 3

This work, titled "Management and universal electric flashcard" was written and willingly shared by a fellow student. This sample can be utilized as a research and reference resource to aid in the writing of your own work. Any use of the work that does not include an appropriate citation is banned.

If you are the owner of this work and don’t want it to be published on AssignBuster, request its removal.

Request Removal
Cite this Essay

References

AssignBuster. (2021) 'Management and universal electric flashcard'. 29 December.

Reference

AssignBuster. (2021, December 29). Management and universal electric flashcard. Retrieved from https://assignbuster.com/management-and-universal-electric-flashcard/

References

AssignBuster. 2021. "Management and universal electric flashcard." December 29, 2021. https://assignbuster.com/management-and-universal-electric-flashcard/.

1. AssignBuster. "Management and universal electric flashcard." December 29, 2021. https://assignbuster.com/management-and-universal-electric-flashcard/.


Bibliography


AssignBuster. "Management and universal electric flashcard." December 29, 2021. https://assignbuster.com/management-and-universal-electric-flashcard/.

Work Cited

"Management and universal electric flashcard." AssignBuster, 29 Dec. 2021, assignbuster.com/management-and-universal-electric-flashcard/.

Get in Touch

Please, let us know if you have any ideas on improving Management and universal electric flashcard, or our service. We will be happy to hear what you think: [email protected]