You will be graduating from business administration in late May. Prior to getting the BBA, you...
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You will be graduating from business administration in late May. Prior to getting the BBA, you were in marketing communications at a small graphics company in the Kelowna area. Ever since taking strategic marketing and e-commerce courses, you have known that you wanted to be a product manager. You also want to move back to the East Coast as your fiance lives in Toronto and cannot relocate. You have identified what would be the perfect job. It's a product manager position with a well-known developer of multimedia software called Technology Solutions located right in downtown Toronto. Based on your previous marketing experience, your ability to lead teams and your understanding of strategic management concepts, you know this would be the right job for you. You've already had two interviews that went really well. You felt you make a good connection with Lee, the person that would be your boss. Lee has a great sense of humour and you know you would learn a lot working together. Even though you sense Lee was disappointed that you didn't go to UBC, you're sure that your knowledge of the graphics industry made an impression. You had been expecting an offer when Lee called asking you for one more meeting. You figure Lee wants to offer you the job in person, although deep down you're concerned that you may have more convincing to do. You heard from your friend, who is at the company, that even though your future manager is nice, Lee is one of the toughest negotiators in the company. You want to be very prepared for this next meeting, so you've done your homework. Dow Jones reported that the company had a 66 percent increase in revenues over last year, so you know they're doing well. According to the Career Centre, last year's salary statistics show that marketing salaries in similar sized firms ranged from: $41,000 for those working with non-profit firms up to $54,000 for other firms with the average of about $48,000. You have always considered yourself above average. Your friends, who are interviewing for jobs in other industries, have encouraged you not to accept an offer of less than $55,000. During your last meeting, you mentioned to Lee that you had plans for a European vacation. Lee didn't say anything, so you figured the start date must not be a problem. In fact, you and the two friends who will be joining you on the trip have just purchased your tickets and are planning to leave May 22, the day after graduation, for a three-month holiday. As it is a non-refundable ticket, you plan to ask for a September 1 start date. You've also gotten a quote from several moving companies that to move your furniture and car would cost around $2,000. Running short on cash, you are really counting on the company taking care of this for you up front, rather than reimbursing you later. You also have a job offer with another multimedia company in Vancouver. The money is pretty good ($49,000 salary plus stock options) but the location and vacation time leave a lot to be desired. They have accommodated your request for a September 1 start date, but you really want to be in Toronto. You have pretty much decided not to take the Vancouver job but you won't tell Lee that until after you have an offer. Topic headings questions: 1. What is my target point (aspiration or ideal settlement price)? 2. What is my BATNA (the qualification of your BATNA - what the BATNA represents - alternative to reaching agreement in the situation)? 3. What is my reservation point? (do not confuse your target point with your reservation point. Target point: ideal settlement price, Reservation point: the monetary (quantified) "walk away" point.) 4. What are my focal points (arbitrary points with no basis in fact)? 5. What are my sunk costs (money you have invested that is "gone")? 6. What are six "wh" questions (see 15 Communication Tips), I should be asking of the interviewer during the salary negotiation? You will be graduating from business administration in late May. Prior to getting the BBA, you were in marketing communications at a small graphics company in the Kelowna area. Ever since taking strategic marketing and e-commerce courses, you have known that you wanted to be a product manager. You also want to move back to the East Coast as your fiance lives in Toronto and cannot relocate. You have identified what would be the perfect job. It's a product manager position with a well-known developer of multimedia software called Technology Solutions located right in downtown Toronto. Based on your previous marketing experience, your ability to lead teams and your understanding of strategic management concepts, you know this would be the right job for you. You've already had two interviews that went really well. You felt you make a good connection with Lee, the person that would be your boss. Lee has a great sense of humour and you know you would learn a lot working together. Even though you sense Lee was disappointed that you didn't go to UBC, you're sure that your knowledge of the graphics industry made an impression. You had been expecting an offer when Lee called asking you for one more meeting. You figure Lee wants to offer you the job in person, although deep down you're concerned that you may have more convincing to do. You heard from your friend, who is at the company, that even though your future manager is nice, Lee is one of the toughest negotiators in the company. You want to be very prepared for this next meeting, so you've done your homework. Dow Jones reported that the company had a 66 percent increase in revenues over last year, so you know they're doing well. According to the Career Centre, last year's salary statistics show that marketing salaries in similar sized firms ranged from: $41,000 for those working with non-profit firms up to $54,000 for other firms with the average of about $48,000. You have always considered yourself above average. Your friends, who are interviewing for jobs in other industries, have encouraged you not to accept an offer of less than $55,000. During your last meeting, you mentioned to Lee that you had plans for a European vacation. Lee didn't say anything, so you figured the start date must not be a problem. In fact, you and the two friends who will be joining you on the trip have just purchased your tickets and are planning to leave May 22, the day after graduation, for a three-month holiday. As it is a non-refundable ticket, you plan to ask for a September 1 start date. You've also gotten a quote from several moving companies that to move your furniture and car would cost around $2,000. Running short on cash, you are really counting on the company taking care of this for you up front, rather than reimbursing you later. You also have a job offer with another multimedia company in Vancouver. The money is pretty good ($49,000 salary plus stock options) but the location and vacation time leave a lot to be desired. They have accommodated your request for a September 1 start date, but you really want to be in Toronto. You have pretty much decided not to take the Vancouver job but you won't tell Lee that until after you have an offer. Topic headings questions: 1. What is my target point (aspiration or ideal settlement price)? 2. What is my BATNA (the qualification of your BATNA - what the BATNA represents - alternative to reaching agreement in the situation)? 3. What is my reservation point? (do not confuse your target point with your reservation point. Target point: ideal settlement price, Reservation point: the monetary (quantified) "walk away" point.) 4. What are my focal points (arbitrary points with no basis in fact)? 5. What are my sunk costs (money you have invested that is "gone")? 6. What are six "wh" questions (see 15 Communication Tips), I should be asking of the interviewer during the salary negotiation?
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Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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