Overview of Management MBA 502

Overview of Management MBA 502

RUNNING HEAD: OVERVIEW OF MANAGEMENT






Overview of Management
University of Phoenix Online
MBA/502
Managing the Business Enterprise

Overview of Management
Introduction
Kudler Fine Foods was established by Kathy Kudler in 1998 when Kathy's passion for gourmet foods made her realize that her local neighborhood did not offer a one stop shopping alternative for the variety she sought. She decided to open her own gourmet grocery store in La Jolla California. The La Jolla location produced excellent sales and enough cash flow for Kathy to open a second store in Del Mar, California two years later. In 2003 Kudler Fine Foods opened a third store in Encinitas as part of a continuing expansion plan.
In 2003, Kudler Fine Foods had net sales of $10,796.200.00 with a gross income of $3,831,082.00. Operating expenses totaled $2,520,228.00 with a cost of goods sold equal to $6,965,118.00. This produced a net income before taxes of $1,310,855.00.Wages for the company totaled $933,917.00. (Note: Income Statement for Year Ended December 31, 2003 shows Wages of $725,650.00). Current Salaries and wages for the Administrative and three stores show a total of $3,179,997.00.
Management and Primary Functions
The Administrative offices of Kudler Fine Foods is made up of the President, Kathy Kudler, Director of Finance and Accounting, Harvey Stephens, Director of Store Operations, Yvonne Reynolds, Manager of Purchasing, Daniel Pitcher, Inventory Manager Arlyn Rilley, and Director of Administration and Human Resources, Brenda Wagner.
Kathy Kudler, as President, is responsible for the overall long term and short term operation and success of the company. Director of Finance and Accounting, Harvey Stephens is responsible for all finance and accounting activities of Kudler Fine Foods. This includes the implementation of goals, policies, priorities and procedures related to financial management, budget, accounting and payroll (Apollo Group, Inc., 2007).
Yvonne...