Answers quesitons from video - Case Study Example

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Their mission statement, originally created by owner Irwin Katz, is “to help our clients achieve success.” While this is the mission statement, the firm has also expressed six key business…
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Case Study Katz, Sapper and Miller is one of the largest and best accounting firms in Indiana. Their mission ment, originally created by owner Irwin Katz, is “to help our clients achieve success.” While this is the mission statement, the firm has also expressed six key business values that are important to achieving the goals of the company. These include lifetime partnerships, integrity, responsiveness, quality, employee success and entrepreneurship. To accomplish the mission statement, this firm offers a number of different services to its customers such as test and bookkeeping, audits and reviews, client tax returns, strategic business planning, mergers and acquisitions, valuation, and litigation support. The firm has designed these services to ensure superior customer service and client satisfaction. Rosanne Ammirati, a tax partner with the firm, mentioned that even though the firm offers a number of services, it targets specific entrepreneurial companies in real-estate, personal service, and trucking industries. Katz, Sapper and Miller want to work with people for the long-term and provide services to specific industries where growth can happen in order to ensure a healthy business relationship. Neither the firm nor any potential clients would benefit from poor decision-making and entering a relationship that would not be beneficial for both parties.
One of Katz, Sapper and Miller’s most successful business practices is in the form of recruiting and retaining new talented employees. College recruitment fills 1/3 of the firm’s annual hiring plan with recent college graduates. The firm maintains high standards for good grades, high GPA, passing the CPA exam when that is required, and that the individual has very strong communication skills and can interact well with the team and clients. The direct of human resources mentioned in the video that the employees can at any time be required to speak with presidents and CEOs of their clients. Recent college graduates must have strong communication skills and be able to interact well with these high-profile clients in order to be trusted to do the work of the firm. Through excellent business practices, and a philosophy that the firm comes first, the Katz, Sapper and Miller is able to retain over 90% of their current employees every year. This statistic shows that the company is an excellent company to work for and that the management team and owners support the work of the employees. Dave Resnick, the management director, stated that the firm has a simple equation for success: great people + clear vision + common values.
Cathy Langham and Jeff Smulyan, owners of companies that are clients of Katz, Sapper and Miller believe that the firm stands out when compared to the rest of the accounting, audit and tax preparation services industry. First of all, they both mentioned that the firm is able to maintain a strong business relationship to the point that it almost feels like a friendship. Langham explained that her company was originally dealing with very strong complex problems associated with planning for the future. The previous accounting firm was not able to come up with viable, quick solutions to the problem so she pitched the idea to her friend Dave Resnick, whom she knew from a professional organization. Within a very short period of time, Langham recalls that the firm was able to produce quick, simple solutions to the complex problems. In addition to the excellent resuls, both Langham and Smulyan commented that the firm prides itself on responding to the customer in a quick fashion and really show that they care about their customers. One interesting point that showed how strong the relationships are between the firm and its customers was that Langham recalled other firms publicly thanking Katz, Sapper and Miller for the work they have done, which is rarely ever seen in that industry. Read More
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