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Managerial Accounting - Essay Example

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Initially, they started off with producing high quality record players which attracted customers belonging to a certain age group but gradually they shifted into producing technologically advanced products such as CD players, MP3 players and USB turntable. This helped the company to reach a wider customer base, rather only a younger one. This indicates that their primary strategy was to achieve a higher level of customer satisfaction. In addition to that, GEK’s leaders followed a team or sound style of leadership strategy which was concerned with both the production and employees (Zeidan 2009, 82-85). This was evident from the fact that highly skilled and experienced employees were paid sufficiently well. B. Strength: The development of the USB turntable has proven to be a huge strength for GEK technologies. With the rising demand for new style of products which demonstrated portability, USB turntable was a perfect introduction. This is evident from the sharper than expected increase in sales for the USB Turntable over the last few years. Another strength associated with GEK technologies comes from the product Record player as the manufacturing of this product requires high level of craftsmanship. In 2012, the employees of GEK technologies working on the record player division were older, more experienced and very loyal. These workers displayed the highest level of craftsmanship in the company as well as in the entire industry. This was evident from the fact that record players represented a relatively high proportion of total sales in certain places. Weaknesses: GEK’s weakness can be identified in the CD player and MP3 player division where the sales growth became stagnant after 2010. This also shows that the development of USB turntable was mistimed as it halted the sales of CD players and MP3 players whose sales rate were significantly higher than any other product divisions. Opportunities: GEK’s opportunities can be witnessed in the USB turntable production division as it is shows a sharper than expected increase. The investment in this division is prospective. This is aided with the consistent increase in the sales rate and rising demand of new style of products which are portable, which in turn would help the division to generate significant wealth for the companies. Moreover, USB turntable as a product can be viewed as a ground work for further development of other products. Apart from that, another opportunity can be noticed in the record player division. Since the sales rate of this division is decreasing rapidly and the technology is becoming obsolete, the company can choose to shut it down and use the excess proceeds, generated from selling the assets, to either invest in another prospective project or distribute the excess cash as dividends to the shareholders. Threat: Having studied the report of GEK, record player and USB turntable division poses a certain degree of threat to the company. Record player which is an obsolete technology has accrued obsolete assets and inventories worth $287,000. Moreover, the company might incur losses as there was a sharp decline in sales in this division and high cost of production was associated with it. The USB turntable division is another threat to the company because a sharper than expected increase in sales for the USB turntable had resulted in delays in production and a backlog of orders. This ...Show more
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Managerial Accounting Table of Contents Case 1: GEK Technologies: Competitive strategy and SWOT analysis 3 Case 2: Fishermen’s Co-op 5 Case 3: Anderson Customized Security 9 Case 4: Parko Department Store: Balance Score Card 10 Reference List 13 Case 1: GEK Technologies: Competitive strategy and SWOT analysis A…
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