This thesis takes a closer look at the MCS implementation within Amplifon S.p.A., with specific regard to budgeting and forecasting processes. Being a worldwide leader in the retail industry for hearing care, Amplifon operates in an environment where business conditions are very fluid and sometimes unforeseeable, which makes the evolution of its control systems quite vital. The research is aimed at outlining internal managerial controls, more particularly financial planning and control mechanisms essential to realizing strategic goals while reducing risks involved in business management. The dissertation merges theoretical insights from literature on budgeting and forecasting with practical applications observed during a seven-month internship in Amplifon's EMEA Finance Team. An analysis of the financial control systems of the company is conducted with special emphasis on the processes of budgeting and forecasting, comparing them with existing literature. Key findings will reveal specific differences and common traits between what Amplifon does and what the established theories are, indicating the areas where improvements could be introduced. This paper concludes with explanations related to current company’s best practices and small recommendations for improving the efficiency and adaptability of the company in managing financial planning and control by reiterating that alignment must be lighted up between the processes, strategic goals and key people. The results are quite enlightening for both academic researchers and practitioners in the area of financial controlling. They clearly indicate how the nature of financial management is developing in response to changing business environments.
Questa tesi analizza da vicino l'implementazione controllo di gestione all'interno di Amplifon S.p.A., con particolare riguardo ai processi di budgeting e forecasting. Amplifon, leader mondiale nel settore della vendita al dettaglio di prodotti per l'udito, opera in un ambiente in cui le condizioni di business sono molto fluide e talvolta imprevedibili, il che rende l'evoluzione dei suoi sistemi di controllo piuttosto vitale. La ricerca è finalizzata a delineare i controlli manageriali interni, in particolare i meccanismi di pianificazione e controllo finanziario, essenziali per la realizzazione degli obiettivi strategici e la riduzione dei rischi connessi alla gestione aziendale. La tesi fonde spunti teorici tratti dalla letteratura in materia di budgeting e forecasting con applicazioni pratiche osservate durante uno stage di sette mesi nel team finanziario EMEA di Amplifon. Viene condotta un'analisi dei sistemi di controllo finanziario dell'azienda con particolare attenzione ai processi di budgeting e forecasting, confrontandoli con la letteratura esistente. I risultati principali riveleranno differenze specifiche e tratti comuni tra ciò che Amplifon fa e le teorie consolidate, indicando le aree in cui potrebbero essere introdotti miglioramenti. Il documento si conclude con spiegazioni relative alle attuali best practice aziendali e piccole raccomandazioni per migliorare l'efficienza e l'adattabilità dell'azienda nella gestione della pianificazione e del controllo finanziario, ribadendo che è necessario accendere l'allineamento tra i processi, gli obiettivi strategici e le persone chiave. I risultati sono piuttosto illuminanti sia per i ricercatori accademici che per gli operatori del settore del controlling finanziario. Essi indicano chiaramente come la natura della gestione finanziaria si stia sviluppando in risposta ai cambiamenti del contesto aziendale.
The budgeting and forecasting processes: the Amplifon s.p.a. case
LOPEZ, ALESSANDRO
2023/2024
Abstract
This thesis takes a closer look at the MCS implementation within Amplifon S.p.A., with specific regard to budgeting and forecasting processes. Being a worldwide leader in the retail industry for hearing care, Amplifon operates in an environment where business conditions are very fluid and sometimes unforeseeable, which makes the evolution of its control systems quite vital. The research is aimed at outlining internal managerial controls, more particularly financial planning and control mechanisms essential to realizing strategic goals while reducing risks involved in business management. The dissertation merges theoretical insights from literature on budgeting and forecasting with practical applications observed during a seven-month internship in Amplifon's EMEA Finance Team. An analysis of the financial control systems of the company is conducted with special emphasis on the processes of budgeting and forecasting, comparing them with existing literature. Key findings will reveal specific differences and common traits between what Amplifon does and what the established theories are, indicating the areas where improvements could be introduced. This paper concludes with explanations related to current company’s best practices and small recommendations for improving the efficiency and adaptability of the company in managing financial planning and control by reiterating that alignment must be lighted up between the processes, strategic goals and key people. The results are quite enlightening for both academic researchers and practitioners in the area of financial controlling. They clearly indicate how the nature of financial management is developing in response to changing business environments.File | Dimensione | Formato | |
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https://hdl.handle.net/10589/227535