Strategic Management functions Essay Example | Topics and Well Written Essays - 750 words

Strategic Management functions - Essay Example Gee and his wife" stay. Vanderbilt University funding is also believed to be used for "Gees' frequent parties and personal chef". It is estimated that "annual tab exceeds $700,000". Trustees of the board at Vanderbilt University had established a committee to monitor the Gee's spending. However, this was not sufficient to strategically control Vanderbilt University finance being spent in the wrong direction. With trustees holding a big stake, they seek accountability for finance sent, and they do not want to handover blank cheques to university leaders. This is particularly the case since it is known that university leaders have been known to misuse university budgets. With or without strategic management implementation, American University expelled President Benjamin Ladner after auditors exposed expenditures by him and his wife that exceeded $500,000. In California, a state audit revealed $334 million was used in unreported pay and perks for University of California staffers. With the most recent Vanderbilt University budget spending being questioned, there is need for better and more effective management. The Wall Street Journal reviewed a committee report about the Vanderbilt University spending. It has advised trustees to "take a more active role in university affairs, including strategic planning, capital spending and management compensation". These are the tools to prevent fraud in future with Vanderbilt University budget. Following some 'spirited board debate'. However, the recommendations to strategically handle the university's spending were implemented. Among some of the strategic recommendations was the creation of a special panel. This panel's job is to "monitor Mr. Gee's budget and outlays for entertainment, travel, food, staff and upkeep of Braeburn". The panel is to report annually to the full board. Although strategic planning implemented is to correct any discrepancies in spending, there is some concern over the board itself. It is thought that individuals who lend support to Mr. Gee are of concern. Individuals who have undertaken contracting with a parking company for instance have not sought out competitor companies. A consultant has advised the board to seek competitors in order to attain more competitive rates for parking. Though the current contract with the parking company is within the market rates, it is believed that more competitive rates could fit the university budget better. With the adoption of strategic management for better oversight and accountability, Vanderbilt University has apparently changed its course as compared to the way things were running not so long ago. With consultants advising the board with better strategies, procedures are more transparent and more democratic. One aspect of this is observed in the fact that the board announced that it was seeking parking bids this July. Other changes observed since the development of strategic management, capital spending and management compensation are observed in new employment compensation. Aside from finance being saved through hiring the most competitive services for the university, funds that are saved can be used for upgrading staff salaries. With Mr. Gee asserting that he is in favor of

Analysis Essay Example | Topics and Well Written Essays - 2000 words

Analysis - Essay Example People who work in this type of industry are often linked with issues that deal with deception and public manipulation. The release of information is so quick that it tends to become viral affecting people of all ages. Whatever medium that may be whether it is radio, television or print, finding a market is not at all hard since people are always intrigued with what is happening around the world. Media Companies Media Companies earn money basically through the widespread of information. Almost in every household there is a presence of mass media through its mediums like the television, newspapers, magazines, computers or even cellular phones. Clearly this shows the attachment of the following mediums to the people’s everyday lives. The thing that is common between the media companies and other types of businesses is that they spend money to create or buy products that will eventually let them earn profit. Many people will gain benefit from it including those who are seeking jo bs and hoping to work in media companies. A lot of risks are present when a media company releases something new to the public. There is for example rejection, people’s lack of interests to the advertised product or services, the spreading of the wrong information that may lead to law suits or the issues that might be thrown by the competitors to try to damage the leading companies’ reputation. A lot of controversies are thrown to the media industry, despite of this it continues to prosper. This is certainly because of its main asset which is information. There may be some negative issues but that does not mean that all media companies are up for no good and are just eager to earn. Some companies are committed to give what is due to the public. Top Media Companies in the US and Canada The following are among the top media companies in the United States and Canada, offering products and services such as pay television channels, online and print publications, websites, a dvertisements, and radio programs through its radio stations. There is no question why after all the struggles they have undergone through the years, these companies are now tougher to face new challenges that may come their way. American Media, Inc. American Media Inc. (AMI) is a leading magazine and tabloid newspaper publisher in the US with its Chairman and CEO David Pecker. It reaches up to 54 million of America’s men and woman a month having an over-all circulation of 6.8 million and about 10 million visitors on its online publication with a hundred views per month (â€Å"About Us†). The topics covered by their publications are those that the Americans are obsessed with, mostly on gossips and good health. It also offers sales and marketing services that enable them to have an even distribution of their periodicals on different supermarkets in areas of the US and Canada (â€Å"American Media Inc. Company Profile†). Last November 17, 2010 the company filed fo r Chapter 11 Bankruptcy which according to the United States Court is allowable only to corporations and partnerships who at time of debt, cannot actually pay the creditor due to the small amount of assets that the company owns (â€Å"Reorganization Under the Bankruptcy Code†