[公告] 企業診斷與分析
※ [本文轉錄自 NTUBA95 看板]
作者: xpw (step by step) 看板: NTUBA95
標題: [公告] 企業診斷與分析
時間: Thu Feb 23 14:30:51 2006
各位有修黃崇興教授與洪明洲教授和開企診的同學：
以下為下週黃老師上哈佛個案，
各組討論方向的參考：
(一)Dell working capital：
1. How has Dell's working capital policy been a competitive advantage ?
2.How did Dell fund its 52% growth in 1996?
3.Assuming Dell sales will grow 50% in 1997, how might the company
fund this growth internally?
How much would working capital need to be reduced and/or profit
margin increased?
What steps do you recommend the company take?
4.How would your answers to question3 change if Dell also repurchased
$500 million of common stock in 1997 and repaid its long-term debt?
(二)Butler Lumber
1.How will is Butler Lumber doing ? Why?
2.What has been the company's financial strategy?
why does Mr. Butler have to borrow so much money to support this
seemingly profitable business? Has he been managing his company's
cash flow wisely?
3.Do you agree with Mr. Butler estimate that he will need up to
$465,000 in 1991?
How much will he need to borrow to finance his expected expansion
in sales in 1991(assume sales volume hits $3.6 million)?
To answer these questions, construct pro forma income statements
and balance sheets for 1991 and make the following assumptions:
A. Mr. Butler reduces yhe payables period to 10 days.
B. Purchase discounts are reduced as a seperate line item on income
statements(not in cost of goods sold)
C. The taxs rate is a flat 34%.
D. Interset expanse in 1991 is based on bank debt of $465,000.
4.How much will Mr. Butler need over the next few years if sales grow
at 25% per year?
5.Would you recommend that Mr. Butler proceed with his expansion plans?
切記，以上只是討論方向建議，非回答以上問題即可
未領CASE者，儘速至教學館212領取。
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