Corporate Planning for Kuala Lumpur City Securities Sdn. Bhd.
Kuala Lumpur City Securities Sdn Bhd ( KLCS ) had been using different strategies to achieve the desired profits since it commenced business in 1992. For the past 6 years many different plans had been used. InitialJy the company used trial and error method in order to achieve the desired profit,...
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| Main Author: | |
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| Format: | Thesis |
| Language: | English English |
| Published: |
1999
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/7913/1/GSM_1999_23_.pdf |
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| Summary: | Kuala Lumpur City Securities Sdn Bhd ( KLCS ) had been using different strategies to
achieve the desired profits since it commenced business in 1992. For the past 6 years
many different plans had been used. InitialJy the company used trial and error method in
order to achieve the desired profit, later Yearly Business Plans were being used by the
company.
Under the Yearly Business Plan, a few different plans might be implemented during a
year in order to achieve the planned profit. This was because plans were concentrated on
certain areas based on seasonal situations. When the situations changed, the plans became
ineffective and failed to achieve the desired profit. Then another plan was formulated
within a short time and then implemented in order to achieve the desired profit within the
remaining period. A lot of effort had been put in planning. However the planing was not
comprehensive and was short-term.
In the 1 997 financial crisis, there were several uncertainties in the whole business
environment and the company was totally lost for direction. There were two-transactions
done during that period and the transactions became overdue doubtful accounts now. The
doubtful account was too huge and it may wipe out all the profits made earlier or even
sink the whole company.
The shareholders came to know about the doubtful accounts and demanded the Board of
Directors to submit a comprehensive long-term plan in order to for them to have a clear
direction of the business within one month for the shareholders extra ordinary general
meeting's approval. |
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