Overcoming resistance to state-of-the-art cash management

Article Abstract:

For automated cash management systems to work effectively, corporate treasurers should sell the automated system to the data entry operators, finance clerks and branch managers who operate the system. The strongest selling point is a demonstration of the benefits realizable from the system. Abbreviated case studies of the implementation problems encountered when installing automated cash management systems at Southmark Corp. of Dallas and at Thomas Jefferson University are offered. These cases point up the importance of personnel management when automating financial functions. It is also noted that the automated system should be designed with input and assistance from the individuals who will ultimately be responsible for its performance, the system operators.

Methods, Human resource management, Cash management, Finance departments, Controllership

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Plant acquisition becomes risk management problem

Article Abstract:

Acquisition of a plant from another company is a difficult risk-management problem, particularly in light of the tightening insurance market. Long-tail pollution problems may not be obvious, yet the purchasing company may be responsible for pollution or product liability lawsuits, in some cases even when there is no stock transfer. Knowledge of insurance risks can be gained by interviewing inspecting engineers about design problems and by examining workplace conditions. Purchase of plants in chemical and related industries is particularly affected by the long-tail legal situation, but companies may also be subject to product liability lawsuits regarding machine tools, drugs, and other products.

Laws, regulations and rules, Liability for environmental damages, Industrial wastes, Business sale

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Incentive pay spreads to lower corporate levels

Article Abstract:

A recent survey by Hay Management Consultants shows that incentive compensation is now being offered to employees other than top management. Almost 25 percent of companies based in the West have incentive-based bonus plans for lower-level employees; and the percentage of companies offering such plans in the Midwest and Northeast has increased significantly over the past two years. The high-tech industry pioneered the use of 'key contributor' plans. One example of such a plan encouraging internal entrepreneurship is that sponsored by Textronix Inc. in Oregon.

Innovations, Surveys, Tektronix Inc., Incentives (Business)

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