Kelompok GOOGLE Rayum : Boundary system? Bureaucracy? Beatrix : Every worker has good idea, how to do a consensus?

s? Ines: are there any different stage of products life cycle? Lazy time and time of error? Puti : national domain across the world, how to control? Bintang : Standard procedure for employees? Bintang : google let the freedom do their work in the company every employees are given their own fredoom to finish their every own tasks. The managers just set the rule to the employee for one day they must produces one innovation for the company Rayum : theirs no boundary systems in google, the company very appreciate the freedom for their employees. The company use flat management model thats mean the manager supervising a lot of employees this very effective because google its self its very unique company with unique people so the unique management systems is a must. Puti : because of their different time zone google just somethings simple, they use Gmail to communicate each other. Inez: life cycle in this issues is the organization life cycle rather than the product life cycle. In google, after seeing the growing conditions, we could say that google on growing stage (market based profit center). The freedom in google is its way to encourage productivity. Every workers has a target that has to be achieved but to achieve it they could do freely. Because by giving restrictions on workers, it would make them afraid to innovate. So we could say that lazy time is Googley itself which would not bring the error but productivity. Beatrix: To reach the consensus, google do discussion and analyze all of it. So all of the idea that collected will be discussed together to get the best and appropriate one. Kelompok Enron

Seraphine Nathania: What is meant by Aggressive Accounting Techniques? Aggresive accounting techniques involve window-dressing and off balance sheet techniques. It is done by inflating assets, hiding liabilities using SPEs, recognising revenues infront, then deffering expenses. It is done to conceal Enrons failure in implementing the strategy. Aggressive refers to action recognising revenues infront before the real criterion was met undr the accounting regulation. Another example, the pressure given by Enron to Arthur Andersen as external auditor to accept and not correcting or even disclose to public about internal scandals occurred by fraudulent reporting and material misstatement of financial statement. Enron pressed Andersen that they will cut the contract agreement and engage with another external auditor if Andersen didnt accept the accounting techniques of Enron What is meant by aggressive expectation of shareholder? We knew from the journal that shareholder expects $0.125 dividend per share per quarter, but actually per year Enron paid dividend of $ 0.5 per share which exceed the expectation. It was not the actual rate of dividend to pay, but Enron adjust it in order to meet the expectation of shareholders. Lius Lady Inez What is meant by asset-light and asset-heavy strategy? As the founder of Enron, Kenneth Lay supported asset-heavy strategy. He envisioned Enron as the conventional energy company by owning large and complete infrastructures, producing energy, then distributing it to society. However, since Jeffrey Skilling has become Enrons new CEO, Skilling envisioned Enron as investment bank trader. He brought asset-light strategy by using its strong risk

management competency to exploit gain from the market when the market has reached its efficiency. There are four key points codified as key success factors of asset-light strategy with the most important one is not having nor investing any kind of heavy assets. Investment on asset creates barrier to exit the market when it is unprofitable. Angelica Faevita What is the impact to ROA and ROE under asset-light and asset-heavy strategy? Under asset-light strategy, there is small amount of asset and high level of income. Hence, it inflated the value of ROA and ROE compared to asset-heavy strategy. Edovan How do Enron sell its assets under asset-light strategy? When Skilling positioned as Enrons CEO, he formed Enrons business using investment bank trader model. Enron sold derivatives products, such as futures contract and forward contract to match between marketing contract and sourcing contract. Enron pooled weak producers under ProductionPayment Program. Enron paid infront for cost of production from the weak producer and dealt the contract at a very low price. Enron could push down the expenses because of low price from producer and no investment in asset. Basically, Enrons business is selling derivatives products to hedge the risks in energy business due to unstable price. Kelompok Infosys 1. Cynthia: How to turn Infosys threats become opportunities and weaknesses become strengths? 2. Seraphine: Why Infosys ability to maintain customer relationship is considered as a threat and but customer relationship itself is considered as Infosys intangible asset? 3. Alaia: How does Infosys overcome the corruption culture in India? To turn Threats become Opportunities:

Corruption culture in India by not involved in corrupt practices, run fair and transparent business as the basis for corporate governance and to get its business. The result is the recognition for its high integrity and good reputation. Complexities in products and clients requirements accept the challanges and always try to meet customers expectation so customer will be satisfied The dynamics of technology hire best people and always generate new and up-to-date technology Maintaining customer-relationship become more difficult assign new role for senior executives (to treat Infosys Top Client) To turn Weaknesses become Strengths:

High legal fees as the consequences of rejecting any corrupt practices and briberies, Infosys have to pay high legal fees. But Infosys consistency on running clean business results in many recognitions or awards for good corporate governance and good reputation compare to other similar firms Less efficient in term of time consuming the sam as the high legal feed, this is the consequences of not giving into the corruption enviornment. This is going to stay as a weakness until at some point the government will ease the preasure to InfoSys Currently having difficulty in maintaining good relationship with clients because of increasing total number of Infosys clients by assigning new role for senior executives (to treat Infosys Top Client), Infosys try to generate more revenue from its most lucrative customers. 2. Good customer relationship is one of Infosys intangible asset, indeed. But on the other hand, by the fact that the total number of Infosys customer is always increasing every year, Infosys ability to treat its customers well might be diminished or reduced. It means that Infosys will always have to

maintain its customer relationship well (put extra efforts) in order to savor the benefit of its customer relationship itself. 3. Grown up in corrupt environment is not easy for any companies in India, because bribery and other corrupt practices (such as buying influence over prevailing laws, use public office for private profit, lobbying, etc) was already an endemic. But strong figure of Narayana Murthy who always refuse any corruptions has lead Infosys become a high-respected company for its fairness, integrity, and transparency. Refer to the case, Narayana Murthy decided to pay high duty fees, clearing consignment fees, and say no to bribes which caused financial difficulty in the early years of Infosys. But in the long term, Infosys has proven that become a clean company" is good and even result in better financial and non-financial aspect compare to other similar companies. We can conclude that Infosys is successful in overcome the corruption culture in India.

Kelompok Pfizer QUESTIONS: Laksono: Side effect of Pfizers acquisition on Warner Lambert? Vandi: Pfizer failed to catch the hidden information, whats the major impact for Pfizer? Lucas: Pooling of interest method? Alaia: What is the orientation from Pfizer? Levinska: Remuneration of executives, is there any committee of remuneration? How the procedure to give remuneration? Jason: Pfizer has lost of its patent, how is the patent mechanism? Did this lose is the failure of Pfizer? How about Wyeth acquisition? Angelica: Is there any transfer pricing? ANSWERS: Levinska: Yes there is committee of remuneration, on Pfizer its known as compensation commitee. Well, we dont have any idea about the procedure of remeneration on Pfizer. Additional answer from Mr. Rudyan: the one that has become problem of remuneration or compensation on Pfizer is it wasnt based on the performance but on a certain amount and not depending on any target or achievement. That was considered as not fair and eventually the system has been changed. Alaia: We think Pfizer has a tendency to be more profit oriented because it has shown some examples. The most recent was the acquisition of Wyeth on 2009 which later on is sold to Nestle (July 2011). From this example, we could draw a conclusion that Pfizer is only intended to take advantage from the differential amounts of acquisition. Mr. Rudyan also said that it was also commonly done by consumer goods firm to take the advantages of product acquisition since developing a new product from the very beginning took times and so much resources, especially money. Angelica: Yes, we supposed to relate the case with transfer pricing but since we found it difficult to get the transfer pricing of Pfizer, we discuss about the financial ratios in our paper. We dont disclosed those ratios here because we think it would take to long to explain all of them.