REQUIRED: Should the research and development (R&D) laboratories be reported as two separate reportable segments under the MFRS 8 Operating Segments? Justify your answer.
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TIFFANY Bhd, a public limited company, is a pharmaceutical company which manufactures and sells a range of healthcare products through four segments. There are two laboratories which carry out research and development (R&D) activities to develop breakthrough products to help meet the evolving health and lifestyle needs of modern consumers.
In the first laboratory, the R&D activity is funded internally and centrally for each of TIFFANY’s four segments. There is no external revenue reported by this laboratory. The laboratory is directly accountable to the division heads for this expenditure.
The second laboratory performs contract investigation activities for other pharmaceutical companies. The scientists conduct research and develop products for diagnosing and managing major health threatening diseases, such as infectious diseases, cancers, cardiovascular diseases, as well as endocrine and metabolic diseases. This laboratory earns 80% of its revenues from external customers and these external revenues represent 15% of the organisation’s total revenues.
The performance of the second laboratory’s activities and that of the four separate divisions are regularly reviewed by the chief operating decision-maker (CODM). The head of the second laboratory is directly accountable to the CODM and they discuss the operating activities, the allocation of resources and the financial results of the laboratory.
REQUIRED:
Should the research and development (R&D) laboratories be reported as two separate reportable segments under the MFRS 8 Operating Segments? Justify your answer.
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- Tasty Treats is a distributor of candy and snack products serving customers in a six-state region of the midwestern United States. Bill Jones, chief operations officer, has been concerned about inventory levels and inventory performance at Tasty Treats for quite some time. In speaking with Jim Busfield, chief executive officer of Tasty Treats, Bill voiced some of his concerns: “Jim, we carry over 5,000 different items in inventory. I have a feeling that we just don’t have a good handle on the proper approach to managing this part of our operations. We don’t have any real analysis that tells us how much we should carry of each item. We just use simple rules of thumb to determine how much we should order from our suppliers. For example, we sell an average of 100 cases of Chocolate Chewies every day. When we order Chocolate Chewies from our supplier, it usually takes about 10 days for us to get the order. So, we order 1,000 cases of Chocolate Chewies every 10 days. I also try to keep an…1. Superior Wire, Inc. produces and sells special types of wire used in a variety of telecommunication applications. The firm's initial growth came from sales of a new wire that was used by cellular telephone service companies when setting up transmission stations. However, growth in that market has slowed. Moreover, at present, most of the other products offered by the firm are similar to those available from a variety of other suppliers. Angelina Stowe, the marketing manager for the company, recently scheduled a meeting with the company president to discuss problems of falling profits. Stowe expressed concern that the company did not have a specific person responsible for identifying new products. The president pointed out that few other firms in their industry had such a position and generally argued that new product thinking was the responsibility of everyone in the firm. After further discussion, the president agreed to let Stowe send out a memo to all company employees…The air cargo product is an important source of revenue and differentiator for cargo airlines. Regardless of whether these are combination carriers of all-cargo specialists, airlines compete intensely for the airport to airport cargo service. Singapore Airlines Cargo (SIA Cargo) competes intensely for market share in a highly competitive air cargo sector. SIA Cargo is a division that sits within Singapore Airlines. It operates a dedicated freighter fleet which the division complements with belly capacity on passenger flights that are operated by Singapore Airlines and its subsidiaries. (a) Discuss how SIA Cargo distinguishes itself from competition in the current COVID-19 environment for the following market segments that it serves: E-commerce logistics Perishables Pharmaceuticals It is important that you contextualise your answer to SIA Cargo and not give generic answers. (b) Why do you think that it is essential for SIA Cargo to offer differentiated products and services? Give…
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- 6) The term revenụe management of consist of the following EXCEPT A. Inventory keeping B. Distribution channels C. Prices to maximize profit over the long run D. Noné of the abovea retail store wants to optimize its inventory management. they have data on sales, inventory levels and supplier lead times. how can business analytics be used to identify the optimal inventory levels for each product?Retailers Warehouse (RW) is an independent supplier of household items todepartment stores. RW attempts to stock enough items for a 98 percent serviceprobability.A stainless steel knife set is one item it stocks. Demand (2,400 sets peryear) is relatively stable over the entire year. Whenever new stock isordered, a buyer must assure that numbers are correct for stock on handand then phone in a new order. The total cost involved to place an order isabout $5. RW figures that holding inventory in stock and paying forinterest on borrowed capital, insurance, and so on adds up to about $4holding cost per unit per year.Analysis of the past data shows that the standard deviation of demandfrom retailers is about four units per day for a 365-day year. Lead time toget the order is seven days.a. What is the economic order quantity?b. What is the reorder point?
- Prior to opening his branch in Fourways, Conrad made a decision to conduct further research intopotential suppliers for his new business venture. He downloaded the integrated annual report forAstral Foods to conduct his research. The link for the integrated annual report can be found using thefollowing link:https://www.astralfoods.com/assets/Documents/Investor%20Centre/2022/Integrated%20Report%20for%20the%20year%20ended%2030%20September%202022.pdf. Q3.2 Discuss the viewpoint you believe Chicky Fillet should adopt towards stakeholders.Discuss the various stakeholders, their possible interests, and the proposed businessapproach towards honouring their interests.Prior to opening his branch in Fourways, Conrad made a decision to conduct further research intopotential suppliers for his new business venture. He downloaded the integrated annual report forAstral Foods to conduct his research. The link for the integrated annual report can be found using thefollowing link:https://www.astralfoods.com/assets/Documents/Investor%20Centre/2022/Integrated%20Report%20for%20the%20year%20ended%2030%20September%202022.pdf. Q.3.1 Considering Astral Ltd Group’s annual report, discuss your opinion regarding theadequacy of their adoption of the stakeholder theory. Consider the theory, thestakeholders mentioned, and the application thereof throughout the report.Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 Of the four categories of variables, which one seems to be the most central to Ski Butternuts segmentation strategy, and why?
