Transcript Executive Team Introduction

Executive Team Introduction
Presented by
CEO: Jessica Saks
CFO: Paul Neumaier
CIO: Alex Tumarison
CEO Job Description
My responsibilities particularly as chief executive officer of Image FX focus on
maintaining the health and well-being of the company as well as keeping
ImageFx a profitable entity. All of this entails planning, directing,
coordinating, and controlling the daily operation of Image FX through the
division managers as well as through the Chief Financial Officer and Chief
Information Officer.
Project Trimester Overview
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This project was divided into two phrases. In the first trimester research phase, the
students had the opportunity to select one of six focus areas to explore: marketing, finance
and accounting, research and development, risk reduction, human resources, and SAP/IT,
after which they spent about 8 weeks using our collection of online resources to build a
foundation in the basics of their specialty. In addition, we had the rare opportunity to
interview professionals from outside corporations such as PriceWaterhouseCoopers,
Metlife, Time Warner, Sharp Electronics, and Citistreet.
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In the second trimester application phase of this project, students used their new
resources and skills to construct a business from the ground up. A merger was be
proposed by the Target Corporation and students then began allocating a budget and
began the process of constructing a complete business plan for Image FX.
Mission Statement states…
• As a creator and manufacturer of athletic eyewear, it is
our primary object to create an exceptional luxury
brand, assuring distinct products of exceptional quality.
Today;’s consumers have standards that require superior
performance and durability while allowing them to feel
empowered and privileged. We will achieve absolute
satisfaction and aim toward loyalty from our highly
regarded customers.
Executive Summary states…
• Management’s primary objective is to create value
for the company’s stakeholders and provide a
dynamic workplace that allows employees
satisfaction and balance, ultimately enabling our
products to outperform our competitors.
CFO Job Description
• As CFO of ImageFX, my main responsibilities included overseeing and
reviewing the preparation of all financial reports including income
statements, corporate budget as well as departmental budgets, & break even
analysis. I analyzed company operations to pinpoint opportunities or areas
that possibly needed reorganization or down-sizing and then collaborated
with our CEO, Jessica Saks. Part of my responsibilities entailed projecting
the company’s prospects for future growth in overall sales and market share,
opportunities for acquisitions, or expansion into new product areas.
Merger Advantages
The Image FX business plan was required to include SAP. Due to the expense and complexity of
SAP, it’s not typical of a small startup company to begin with this requirement. So in order
to make this requirement achievable, a merger was initiated by the larger corporation,
namely Targe,t between Image FX and Target.
The merger had several advantages for both Target as well as ImageFX.
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Target is a large corporation who wanted to incorporate an ERP system, which ImageFX
had to offer including trained personnel.
Target wanted to become more competitive and planned to expand its product lines by
adding a new sales department for athletic eyewear.
Also, they was looking for R&D and Marketing people for their athletic eyewear product
line which Image FX could supply them with.
In turn, ImageFX was looking for assets to startup the business, considering the extensive
startup costs. We offered patented innovative eyewear but needed the resources for
selling the products, a role which Target fulfilled perfectly.
CIO Job Description
• My main responsibility as the Chief Information Officer was to manage over
50 staff across three business divisions. I have the lead role in providing a
sharper corporate focus on the development and coordination of
systematic, organization-wide approaches to managing information and
knowledge within Image FX. This position had me participating in a small
team responsibilities focusing on the progression, development and
negotiation of strategic information policies and implementing knowledge
management initiatives. Mainly I provided general administrative support
and coordinated the policy, financial and administrative activities for the
Group.
Divisions Overview
IT DEPT.
• The IT department's primary job is the implementation of SAP for ImageFX and the creation of the conversion plan of
Target's systems to SAP. SAP is the virtual base of a company that amasses and simplifies business processes by
integrating various company departments. SAP is the 3rd largest company and has the largest market share in ERP
systems. The IT group has created a final presentation to go more in depth of their role in ImageFX and Target.
R&D
• The Research and Development department is the foundation of ImageFX. Without their part in the company, we would
not have a set product or design on which we are based on. R&D also plays a role in revitalizing our product and
restoring the demand in the market by constantly updating the design to satisfy what customers want and need. Their
strategy included separating into two groups for budget and prototype design.
RR
• As the key group to keep ImageFX's legal issues in place, Risk Reduction mainly takes care of patents and
licensing. After analyzing other departments for risks, Risk Reduction looked for other existing patents to make sure
ImageFX did not overlap or infringe on any standing design and utility protection. Their patent prior-art search and
competitor analyses were approved by an actual licensing attorney, to which they will go more in depth.
Division Overview (cont’d)
HR
• All companies have a priority in the protection of their employees. The Human
Resources Department found the best ways to keep the ImageFX employees safe
and to keep ImageFX safe from the employees. Besides safety issues, HR
designed considerable benefits and healthcare plans. Their employee
performance assessment made sure that everything is under control. Human
Resources also devised a plan to suppress two litigation processes against
ImageFX.
Marketing
• Marketing has one of the most important roles in a company, because without
proper exposure, a product will not sell. Marketing’s goal with ImageFX has
been to develop a commercial to advertise the sports sunglass product via
television media as well as magazine advertisements. They strive to reach
various audiences and to make our product as visible and recognizable as
possible.
Finance
• The objective of the Finance group is to create a budget that will allow for the
turn of a profit at the earliest possible date. After cutting costs, and increasing
sales, they have been able to create a corporation in which, with help our
business partner Target, it will never lose money over an assumed ten-year
period.