Target Micronics in China: Disarray in Finance
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Target Micronics, a Canadian microelectronics company, is facing significant operational problems in their Hong Kong office. The office carries out financial operations for the Greater China region and is experiencing high turnover and inability to process various financial duties in a timely and appropriate manner. Target's internal audit rated the finance operations in Taiwan "Unsatisfactory," and Kim Knight, the Hong Kong office manager, has nine months to fix the problems before an external audit is scheduled.
1. Diagnose the problems facing Target Micronics' Greater China office. Why did these problems arise?
2. Put yourself in the shoes of Kim Knight, the manager of this office. What could she have done differently? What would you recommend she do prior to the arrival of the external auditors in nine months?
3. Put yourself in the shoes of her boss, the regional chairman for Target Micronics' Greater China operations. What should the regional chairman do?
4. Put yourself in the shoes of the chief financial officer of the parent company. What should the CFO do?
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This solution deals with the key points regarding the case study Target Micronics in China, and also answers four question regarding this case study.
Target Micronics, a Canadian microelectronics company, is facing significant operational problems in their Hong Kong office. The office carries out financial operations for the Greater China region and is experiencing high turnover and inability to process various financial duties in a timely and appropriate manner. Target's internal audit rated the finance operations in Taiwan "Unsatisfactory," and Kim Knight, the Hong Kong office manager, has nine months to fix the problems before an external audit is scheduled.
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