Please go over instructions. Also I added a link for the Non profit organization
Please go over instructions. Also I added a link for the Non profit organization
https://www.killeencreators.org/about/in-the-media
Critical Thinking Assignment (CTA) – Introduction
Welcome to our Critical Thinking Assignment (CTA), a semester-long journey designed to help you explore and apply managerial accounting in a real-world context. As we embark on this project together, I’m excited to see how each of you will bring your unique insights and skills to the table.
Structure and Purpose
Week 2 – Introduction and Business Selection:
We start by selecting a small business in your local community to analyze. This foundational step sets the stage for everything we’ll do this semester. Choose a business that excites you, one that presents interesting challenges and opportunities from a managerial accounting perspective. This is your chance to lay the groundwork for practical application and dive into the real-world intricacies of business management.
Week 4 – Managerial Accounting Assessment:
We’ll take a closer look at the financial workings of your chosen business. You’ll analyze financial statements, identify key metrics, and uncover the cost behaviors that drive operations. This deep dive will equip you with the insights needed to understand your business’s financial health and prepare you for strategic thinking.
Week 6 – Strategic Recommendations and Implementation Roadmap:
Building on the insights you’ve gained, you will propose strategic changes to enhance the business’s financial health. This is not just about suggesting improvements—it’s about crafting a practical roadmap for action. Your strategic recommendations will be grounded in real data, and you’ll detail how these can be effectively implemented.
Week 7 – Peer Review:
Collaboration is key to our learning journey. You’ll engage with your peers by reviewing and critiquing their assignments. This process will develop your critical analytical skills and provide fresh perspectives on your strategies. Remember, feedback is a gift that helps us grow, and your insights will be invaluable to your classmates.
Week 8 – Final Paper Submission and Business Insights:
Our journey culminates in a final paper submission. This is where you synthesize your findings, strategic recommendations, and insights gained from a concluding interview with the business owner. Reflect on everything you’ve learned, and assess how this experience has deepened your understanding of managerial accounting and its application in real-world scenarios.
By the end of this semester, you’ll have a thorough understanding of managerial accounting principles and practical experience in applying them to real business issues. I’m confident this project will prepare you for the analytical and strategic demands of your future careers. Let’s make this an enriching and memorable journey together.
Business Selection Assignment Overview
Week 2 CTA: Introduction and Business Selection
Objective: The primary goal of Week 2 is to identify and select a local small business that presents interesting managerial accounting challenges and opportunities. This first step is crucial as it sets the stage for all subsequent analyses throughout the semester.
Detailed Structure and Purpose:
Purpose of the Assignment:
Engage with the Community: Support local businesses by providing insights that could enhance their financial operations.
Apply Theory to Practice: Apply managerial accounting concepts to real-world scenarios, bridging the gap between theory and practice.
Develop Professional Skills: Enhance communication, analytical, and problem-solving skills through real business interactions.
Steps and Recommendations:
Step 1: Research Local Small Businesses
Objective: Identify potential small businesses in your community that could benefit from managerial accounting consultation.
Action Plan:
Use Local Resources: Explore local business directories, community boards, or social media to find potential businesses. Prioritize businesses that are accessible and open to collaboration.
Selection Criteria: Focus on businesses that have unique products or services but face operational or financial challenges, such as local bakeries, independent retail stores, or service providers like salons and auto repair shops.
Recommendation: Choose a business that aligns with your interests and offers clear opportunities to apply managerial accounting principles, such as cost management or budgeting improvements.
Step 2: Contact the Business
Objective: Establish communication with the business owner or manager to introduce yourself and explain the project.
Action Plan:
Craft a Professional Communication: Reach out via email or phone to explain the project’s purpose and benefits. Highlight how the project can provide valuable insights to the business while offering practical experience for you.
Direct Email Example:
Subject: Opportunity for Managerial Accounting Consultation
Dear [Business Owner’s Name],
I hope this message finds you well. My name is [Your Name], and I am currently pursuing an MBA at Texas A&M University-Central Texas. As part of my coursework, I am undertaking a project that involves providing managerial accounting consultations to local small businesses.
I am particularly interested in [Business Name] because of your unique offerings and the significant role you play in our community. This project involves analyzing your business’s financial health and offering recommendations on cost management, pricing strategies, and budgeting. I believe this collaboration could be mutually beneficial, providing you with actionable insights while allowing me to apply my academic knowledge in a real-world setting.
If you are open to participating, I would love to schedule a time to discuss this project further and explore how we might work together. Please let me know a convenient time for you, and we can arrange a meeting or a phone call.
Thank you for considering this opportunity. I look forward to the possibility of working with [Business Name].
Best regards,
[Your Full Name]
MBA Candidate
Texas A&M University-Central Texas
[Your Email Address]
[Your Phone Number]
Recommendation: Personalize your communication to demonstrate genuine interest and professionalism, highlighting mutual benefits.
Step 3: Gather Basic Information
Objective: Collect essential details about the business to understand its operations and financial structure.
Action Plan:
Information to Collect: Request details about the business’s size, industry, primary products or services, and specific challenges they are facing.
Example Information: For a bakery:
Number of Employees: 10
Industry: Food and Beverage
Primary Products: Pastries, cakes, and bread
Challenges: High ingredient costs and pricing competition
Recommendation: Collect enough information to identify areas where managerial accounting principles can be applied to improve the business’s financial performance.
Step 4: Document the Selection Process
Objective: Clearly outline why and how you selected the business.
Action Plan:
Write a Detailed Report: Include sections that describe the selection process, justification for choice, and a business overview.
Selection Process Descriiption: Detail the steps taken to identify and contact the business, including criteria used for selection.
Example: “I began by searching for local small businesses using the local chamber of commerce directory. I shortlisted businesses known for their unique products but facing operational challenges. I chose the local bakery because it has a strong customer base but struggles with cost management.”
Justification for Choice: Explain why you chose this business, highlighting specific challenges and how managerial accounting could help.
Example: “I chose the bakery because, despite its popularity, it struggles with high ingredient costs and pricing strategies. By applying managerial accounting principles, we can help them manage costs and improve profitability.”
Business Overview: Provide details about the business’s size, industry, primary products or services, and its role in the community.
Example: “The bakery is a beloved local spot, known for its innovative pastry designs and community events. It plays a crucial role in the local economy by sourcing ingredients from nearby farms and employing local residents.”
Recommendation: Use clear and precise language to convey your reasoning and ensure the report is structured logically.
Guidelines for Crafting Your Response
Consult the University Writing Center (UWC):
Utilize Resources: Schedule a session with the UWC to review your paper, focusing on content and clarity.
Submit Revisions: Provide both pre-consultation and post-consultation versions, highlighting changes and rationale for revisions.
Confirmation: Attach written confirmation from the UWC with your paper upon submission.
Length and Formatting:
Length: The paper should span 2-3 pages, excluding the cover and reference pages.
APA Formatting: Use APA style, including a title page, reference page, 12-point Times New Roman font, double spacing, and section headers.
Plagiarism Check:
Turnitin Score: Ensure your plagiarism score is between 10-12%. Scores above this range may indicate plagiarism and are treated as serious academic misconduct.
Scholarly References:
Supporting Evidence: Back up your arguments with evidence from the course textbook and at least two scholarly, peer-reviewed journal articles, in addition to the mandatory reading assigned for this module. Use the TAMUCT Library to access academic journals.
Conclusion
Focusing on local small businesses allows students to engage directly with their community, offering tangible benefits to both the students and the businesses involved. By following these steps and recommendations, students can lay a strong foundation for meaningful analysis and strategic recommendations in the weeks to come. Incorporating these guidelines ensures that the assignment meets the educational goals of an MBA managerial accounting course while providing valuable real-world experience for students.