Circle of Competence
Post your initial response by Wednesday, midnight of your time zone, and reply to at least 2 of your classmates’ initial posts by Sunday, midnight of your time zone.
1st person to respond to
Hello JP and Classmates:
The actions that were taken to improve inventory level in the U.S., and with a heavy mix of grocery sales have put pressure on the profit margin for Q2, and the outlook for the year.
They are continuing to build on their strategy to expand our digital businesses, including continued strength, and they can see it in international markets.
Walmart continues to build on its strategy, expand its digital businesses, and continue its strength. Walmart’s strategy drive growth and sustainable returns plan $ 20 billion share repurchases program over two years.
I have learned the CFO position and what it takes to get there, planning, operations, financial information, risk management, and financing. The differences between CFO and the controllers and their job descriptions. The controller is responsible for the details of daily operations, and the accounting department. The CFO has a much broader and higher-level role and is responsible for planning, finances, risk management, and several areas.
(The CFO Guidebook).
2nd person to respond to
RE: Week 10 Discussion
Hello JP and respected Classmates,
When asked to listen in on an earning call in 530, I went with World Wrestling Entertainment (WWE). Being a lifelong Pro-Wrestling fan, I found it fascinating to hear how the company communicates with its shareholders as its audience. So when I saw this assignment was looking into investor relations, I decided to check in on the WWE to see how Q2 had gone for them.
If anyone is unaware (and I don’t blame you for not being), WWE’s long-time owner and Chairman, Vince McMahon, was involved in a massive scandal. It came to light that he had used millions of dollars to cover up sexual encounters with female employees (Melin 1). This humiliation led to his daughter Stephanie McMahon and CEO Nick Khan assuming the company’s CO-Chairman role.
Surprisingly, according to their Q2 press release , WWE seems to have weathered the storm reasonably well. WWE reported a 24% Rise in profits, a 50% increase in Operating Revenue, and a 34% increase in EBITDA, something CFO, Frank A. Riddick III, mentioned he expected to see on the Q1 call.
They reported seeing a lot of success in their “Premium Live Events,” a tactic they have adopted in turning their PPV into a sort of WWE Fan-Convention rather than just the event itself. They also saw success in opening an NFT market and their “Next In Line” initiative (finding College athletes with media presence and recruiting them to become wrestlers.
Oddly enough, from the dedicated fanbase, there has been a lot of positive reaction from the scandal’s fallout. The regime change saw the appointment of Paul Levesque (FKA Triple H, someone who has a lot of goodwill with hardcore fans), and many have felt there has been an increase in the quality of the week-to-week shows.
Through this course, I feel I’ve learned much about applying the skills we picked up in 530. It’s one thing to know what the various things on the Finance documents mean but be able to put them into context to predict the course of a business. I will never be a CFO ( I have neither the talent nor the desire), but understanding how CFOs come to their conclusions and be able to “speak their language” is a skill that I will find invaluable in future endeavors.
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