Сборник бизнес-кейсов алматы, 2015 Выпуск 1
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- Бұл бет үшін навигация:
- DARITHANA B. Markhayeva, doctor of economic sciences, professor C.
| Questions:
1. Should they recruit a new candidate to publish the implemented projects or assign this as additional tasks to the current employees? 2. How could they design the motivation program to retain the 1C certified specialists? 3. Should they continue applying of the existing categories of programmers? 4. Would recruiting of specialists in field solutions help to attain the set goals? A carousel of these questions was going round in the new directors’ minds. They had to make important decisions after a difficult and detail discussion to bring Success to further level of development. Appendix 1 Logotype of “Success Group” Ltd. 69 Appendix 2 Organizational chart of “Success Group” Ltd. 2 Directors (Owners) Director on Methodology Sales Department Sales Managers Project & Development Department Consultants- Developers Interns Administrativ e Department Accountant Office Manager Driver Drector on Programming Programming Department Programmers of 1st, 2nd and 3rd categories Technical Support Department Programmers of 4th and 5th categories 70 DARITHANA B. Markhayeva, doctor of economic sciences, professor C. On July 13, 2013 Serik Junn, the CFO of Darithana (“The Company”) had received an official request from Future bank of Kazakhstan (“The Bank”) for the immediate repayment of all amounts due under the loan agreement. Darithana was a listed company of generic and branded drugs in Kazakhstan, Eurasia. Its domestic market share was more than 50% among Kazakhstan’s manufacturers. The basic terms of the loan agreement were: (1) the loan would be used to replenish current assets; (2) the maturity date would come after one year with an annual interest rate of 6.75 %; (3) the loan collateral was required to maintain the Current Ratio of not less than 1.5. However, by the beginning of July 2013 this ratio had dropped to 1.28. This gave the Bank the right to demand repayment of the loan. But the Company currently did not have sufficient funds to meet its urgent obligation to the Bank. The same evening, Serik was unpleasantly surprised by a National Broadcasting Company’s report that Darithana’s staff had not been paid in full during the last few months. In fact, the Company incurred debt for its employees’ wages which it tried to keep a secret. This report would have a negative impact on Darithana’s business image and its relations with investors. Moreover, it would also attract the attention of the government’s health and safety inspectors. The Company’s liquidity problems had been linked to the implementation of a major investment pro- ject which cost $66 million over a five year period. The project included (1) construction of a new am- poule factory and (2) the transfer of all production capacities to a standard of “Good Manufacturing Practice”. The next day, Serik had looked at the Company’s balance sheet again, focusing on the short-term assets and liabilities. He was interested in the financial data at the time of the loan (01/07/2012) and the time of the Bank’s requirement to return the entire debt (01/07/2013). Below was what he saw: $000 01/07/2012 01/07/2013 Cash and cash equivalents 9 298 4 630 Trade and other accounts receivables 16 081 24 649 Inventories 21 968 27 283 Other current assets 3 275 3 141 Total current assets (1) 50 622 59 703 Current portion of long term loans - 22 172 Short-term loans 14 403 8 Trade and other payables 13 448 19 550 Liabilities under other mandatory and voluntary payments 23 - Employee benefit liabilities - 50 Tax liabilities 43 - Other current liabilities 1 930 4 693 Total current liabilities (2) 29 847 46 473 Current Ratio (1) / (2) 1.69 1.28 жүктеу/скачать 3.48 Mb. Достарыңызбен бөлісу:
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