Write a critical thinking regardind to : Foecasting topic
Read through the Case Study entitled “Highline Financial Services, Ltd.” in Chapter 3 of your textbook. Examine the historical trends this company has experienced for the three products (A, B, C) discussed over the 2 years shown.
Prepare demand forecasts for the next four quarters for all three products, describe the forecasting method you chose and explain why that forecasting method is best suited to the scenario.
Explain why you did, or did not, choose the same forecasting method for each product.
What are the benefits of using a formalized approach to forecasting these products?
On the other hand, with too many brains from different fields come different ideas. This may make it difficult to focus on one situation. In Masters case, it is quite evident that there are directors with great retail industry experience, though little in home improvement sector (Woolworths Ltd., 2015). It would be safe to say that though the board did not have industry-specific knowledge, they did have the experience to deal with entry into a completely new market. However, frequent changes of managing directors questions the board’s commitment, which is an important aspect of Principle 2. By the time Matt Tyson took charge of the company from Don Stallings, he was a part of the solution rather than the problem (McConnell, 2016). It might have been too late for Matt Tyson to prevent the inevitable. Principle 1 of ASX Corporate Governance Principles and Recommendations describes the importance of a clearly set out roles and responsibilities of the board and of the management. Recommendation 1.1 of Principle 1 suggests that “a listed entity should disclose: (a) the respective roles and responsibilities of its board and management; and (b) those matters expressly reserved to the board and those delegated to management.” (ASX, 2014). Though there is a brief commentary about the roles and responsibilities of the board and the management, there is nothing in specific. Clearly defined roles help in expectation setting and avoiding misunderstanding. However, stringent roles deter flexibility and may add to unwillingness to perform cross-divisional roles. List Reasons Explicitly In conclusion, the failure of Masters Home Improvement was a result of poor strategic thinking, a consequence of corporate governance failure. Poor strategic thinking which led to haphazard expansion and acquisitions can be attributed Woolworths’ epic failure. It can be deducted from the argument presented above that better application of Principle 7, Recommendation 7.4 by ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations statement. This, coupled with choice wrong locations, selling the wrong stuff and flawed workplace culture was the reason behind Masters downfall (Stewart, 2016). All of these mentioned causes can be traced back to lack of good corporate governance. Self-Correct There are several limitations that were met while writing this argument. There is no specific data regarding who was accountable for the projects and what was the actual responsibility of individual directors. In addition to that there is limited academic research done on this topic which makes it difficult to refer to secondary data. Corporate governance is a very subjective issue. Therefore, pointing out flaws in corporate governance is as subjective as the issue itself. Since there >GET ANSWER