Snyders of Hanover, which sells about 80 million bags of pretzels, snack chips, and organic snack items each year, had its financial department use spreadsheets and manual processes for much of its data gathering and reporting. Hanover’s financial analyst would spend the entire final week of every month collecting spreadsheets from the heads of more than 50 departments worldwide. She would then consolidate and re-enter all the data into another spreadsheet, which would serve as the company’s monthly profit-and-loss statement. If a department needed to update its data after submitting the spreadsheet to the main office, the analyst had to return the original spreadsheet, then wait for the department to re-submit its data before finally submitting the updated data in the consolidated document.
Copy the following questions and respond by writing, at a minimum, one or two well-developed paragraphs for each question. Be sure to cite the text to support your responses by integrating evidence through quotations, paraphrases, or summaries.
1) How does this situation impact business performance?