This particular report taken an honest attempt of the evaluation of PWC Value-Framework in respect of two of the major companies; they are ASSA ABLOY and the Eastern Company. The main aim of this report is to analyze, evaluate and compare the internal as well as external business factors that are required for business decision-making of the above two companies. Each element of PWC Value-Framework has five sections; they are elements, example, comprehensiveness, accessibility and conclusion. All these seventeen elements are judged based on these five aspects.
Accessibility: The main strategy of ASSA ABLOY is to obtain progress in sustainability development while the strategy and objective of the Eastern Company is to create significant value for their shareholders (assaabloy.com 2017).
Comprehensiveness: It can be seen that both the companies have enough scope of their strategies for the achievements of their organizational goals.
Conclusion: Thus, based on the discussion, it can be seen that the quality of strategies and objectives is ‘good’.
Accessibility: As per the business model of ASSA ABLOY, the company believes in the increasing growth in its core business area along with product leadership and cost efficiency. The Eastern Company almost has the same business model (assaabloy.com 2017).
Comprehensiveness: The business model of these two companies helps to achieve the objectives and goals of the companies.
Conclusion: Thus, this aspect can be considered as ‘good’.
Accessibility: In case of ASSA ABLOY, it can be seen that shareholders are the top of the corporate governance structure. On the contrary, Board of Directors are top of corporate governance structure of the Eastern Company.
Comprehensiveness: Both the corporate governance structure of these two companies has strategic scope (assaabloy.com 2017).
Conclusion: Thus, this element can be considered as ‘good’ for both the companies.
Accessibility: It can be seen that ASSA ABLOY has taken into consideration all the business risks as the part of their risk management strategy. The same is applied for the Eastern Company.
Comprehensiveness: The risk management strategies of both the companies are effective for minimizing the business risks (assaabloy.com 2017).
Conclusion: Thus, risk management framework can be considered as ‘good’.
Accessibility: ASSA ABLOY’s remuneration structure includes fixed remuneration and variable remuneration for the company executives. In addition, there are other benefits and pension system (assaabloy.com 2017). The same structure can also be seen in the Eastern Company.
Comprehensiveness: The remuneration structure for both the companies have well-structured meeting the needs of all.
Conclusion: It can be concluded that remuneration framework for these two companies is ‘good’.
Accessibility: From the above figures, it can be seen that both the companies have segmented their financial assets in non-current assets and current assets. The above tables show that the total asset position of the Eastern Company is better than ASSA ABLOY (assaabloy.com 2017).
Comprehensiveness: The financial assets are presented as per the accounting regulations.
Conclusion: Thus, this framework is ‘good’ for both the companies.
Accessibility: As per the above tables, ASSA ABLOY only has Property, Plant and Equipment (PPE) as physical assets. The Eastern Company has land, buildings, machinery and equipments as physical assets (assaabloy.com 2017).
Comprehensiveness: The annual reports of both the companies have effectively shown the physical assets of their companies.
Conclusion: Thus, it can be concluded that this aspect is ‘good’ for both the companies.
Accessibility: The above figure shows that ASSA ABLOY has three types of customers. They are institutional and commercial customers; residential customers and aftermarket customers. There is not any information provided about the customers of the Eastern Company in their annual report.
Comprehensiveness: The strategies of ASSA ABLOY have been developed based on their customers (assaabloy.com 2017).
Conclusion: Thus, it is concluded that this aspect is ‘good’ for ASSA ABLOY.
Accessibility: ASSA ABLOY gives utmost importance to their customers, as they believe that people are the main factors behind the success of the company (assaabloy.com 2017). In addition, the business culture of the company is fast-paced, ever changing, technology-driven and global. This same culture can be seen in the Eastern Company.
Comprehensiveness: The culture of these companies supports their strategies.
Conclusion: Thus, this aspect can be considered as ‘good’.
Accessibility: The above figures show that innovation is in heart for both the companies. The business strategies of both the companies are well supported by innovative technologies (assaabloy.com 2017).
Comprehensiveness: Both the companies will be able to expand their business with the help innovation and technologies.
Conclusion: Thus, it can be said that this aspect if ‘good’ for both the companies.
Accessibility: The above figures show that both the companies have intellectual assets shown in their balance sheet (assaabloy.com 2017). The types of intellectual assets in the Eastern Company are goodwill, trademark, patents, technologies and other intangible assets.
Comprehensiveness: It needs to be mentioned that all the intellectual properties are recoded on actual accounting basis.
Conclusion: Thus, this aspect is ‘good’ for both the companies.
Accessibility: The above figures show that both the companies have effective methods for the management of all the business processes. In addition, the supply chain of both the companies is also effective as well as efficient (assaabloy.com 2017).
Comprehensiveness: The process management and supply chain of these two companies have been made as per the company structure and functions.
Conclusion: Thus, this fact is also ‘good’ for the companies.
Accessibility: As per the above figures, it can be seen that the there has been increase in the operational performance of both the companies as both the sales and profits have increased over the years (assaabloy.com 2017).
Comprehensiveness: This is helpful for the companies to achieve the objectives.
Conclusion: Thus, this aspect is ‘good’ for both the companies.
ASSA ABLOY
Accessibility: The above figures show the fact that ASSA ABLOY have been able to gain economic advantage due to effective research and development department. However, the Eastern Company gains economic benefit from long-term growth in capital (assaabloy.com 2017).
Comprehensiveness: Both the companies have been able to gain economic profit.
Conclusion: Thus, it can be said that this aspect is ‘good’ for both the companies.
ASSA ABLOY
Accessibility: The above figure states that ASSA ABLOY has become successful to reduce the employee injury rate (assaabloy.com 2017). In addition, the company has increased the number of women in Board of Directors. The annual report of the Eastern Company does not have any social KPIs.
Comprehensiveness: These KPIs help the company to achieve organizational strategies.
Conclusion: Thus, it can be concluded that this framework is ‘good’.
ASSA ABLOY
Accessibility: As environmental performance, ASSA ABLOY has become able to reduce the amount of greenhouse gas emission. On the other hand, the Eastern Company has also been involved in clean-up process of the environment.
Comprehensiveness: Both the companies have their environmental strategies aligned with business strategies (assaabloy.com 2017).
Conclusion: Thus, it can be concluded that this framework is ‘good’ for both the companies.
Accessibility: The major business segments of ASSA ABLOY are education, health care, private offices, public administration, shopping centers, seek out services, warehouse services and others (assaabloy.com 2017). The three major segment of the Eastern Company are industrial hardware, security products and metal products.
Comprehensiveness: All these segments of these two companies contribute largely towards the revenue and profitability of the companies.
Conclusion: Thus, based on the above discussion, it can be said that this segment is ‘good’ for these two companies.
It can be seen that ASSA ABLOY has designed their audit program in such a way so that any kind of material misstatements in the financial reports of the company can be identified. The company uses certain quantitative methods for the identification of material misstatements (assaabloy.com 2017).
In case of the Eastern Company, determination of material misstatement is a crucial part of the internal control of the company. For this reason, the company has a provision to disclose all the reported material misstatement in the internal control report (easterncompany.com 2017).
References
ABLOY, A. (2017). ASSA ABLOY Group | Our culture as global innovators. [online] Assaabloy.com. Available at: https://www.assaabloy.com/en/com/career/why-assa-abloy/our-culture/ [Accessed 24 Sep. 2017].
ABLOY, A. (2017). ASSA ABLOY Group | People. [online] Assaabloy.com. Available at: https://www.assaabloy.com/en/com/sustainability/people/ [Accessed 24 Sep. 2017].
assaabloy.com. (2017). Annual Report 2016. [online] Available at: https://www.assaabloy.com/Global/Investors/Annual-Report/2016/ASSA%20ABLOY%20-%20Annual%20report%202016.pdf [Accessed 24 Sep. 2017].
Bodie, Z., 2013. Investments. McGraw-Hill.
Christ, K.L. and Burritt, R.L., 2013. Environmental management accounting: the significance of contingent variables for adoption. Journal of Cleaner Production, 41, pp.163-173.
easterncompany.com. (2017). Annual Report Fiscal 2016. [online] Available at: https://www.easterncompany.com/documents/2016-Annual-Report-and-Form-10-K.pdf [Accessed 24 Sep. 2017].
Fullerton, R.R., Kennedy, F.A. and Widener, S.K., 2013. Management accounting and control practices in a lean manufacturing environment. Accounting, Organizations and Society, 38(1), pp.50-71.
Herbert, I.P. and Seal, W.B., 2012. Shared services as a new organisational form: Some implications for management accounting. The British Accounting Review, 44(2), pp.83-97.
Ward, K., 2012. Strategic management accounting. Routledge.
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