Financial Analysis, David Hatherly

1. David Hatherly served as a non-executive board member for a family POS, EPOS till company.
1. father and 4 sons, often quarreled
2. David supported the father Ralph
3. Professor McKenzie provided a Michele Callon, a French Sociologist on network and Latour
4. ANT - actor network theory, through Le Tour -> Ed Hutchins (1995) at the University of California San Diego "distributed cognition"
5. Cognition has to do with the propagation of representations though various media which are coordinated by a very lightly equipped human subject
1. business as the stakeholder knowledge network
2. business as strategy
3. business as accounts
2. Alan Ramsey Pub story (Ralph's)
1. builder (construction) in SE London
2. bought a pub near Edinburgh
3. had ideas and built programs
3. Gave up pub, moved to 4th st.
4. Lost sole and major customer
1. maintenance kept them going
2. 800 till installation base (needed maintenance)
3. after sales aspect is a more reliable, less volatile business
4. JD Weatherspoon's (pub started by a lawyer named Tim Martin)
5. Ralph put in the first POS system in the pub
6. Happy Hour concept (5-7pm)
7. software connected with all 670 pubs
8. 5PM reduces the prices by half, 7PM prices pushed back up (revenue protection)
9. touch-screen tills were becoming popular ("all the buzz")
10. Ralph tried to sell the newer till technology, but customer uninterested
11. customer wanted the software with minimum frills
12. Ralph wanted to maintain control of knowledge, stakeholders (customer base)
13. POS doesn't get changed often, to select a new system is a major endeavor
14. strong relationship between Weatherspoon's and Ralph in the development of new products
5. Ralph wanted to maintain manufacturing in the UK (strategic imperative)
1. hired talented designer to produce a better design for 1/2 price manufacturing (meet competing product manufactured in Taiwan)
6. "Accounts according to Robin "
7. Business as strategy
8. Business as a stakeholder knowledge network
9. Business as accounts
10. By trying to coordinate, each of these 3 representations will be impacted
11. The Stakeholder Knowledge Network (SKN), Product Performance, Price, cost, volume, knowledge, relationship, promises, prospects
1. customers, , sales, , warranties, ,
2. employees, , wages, , pension deficit, , (legacy value of promise) legal requirement to set aside funds 
3. suppliers, , cost of materials, , , forward contracts, ,
4. company, , depreciation , , replacement, , 
5. loan holders, , interest, , forward contracts
6. shareholders, , dividends, , share price
7. government, , tax, , deferred tax, , 
8. management, ,salaries, , share options, , 
12. Sometimes we can borrow from other promises...
13. Prospects- the other 5 columns in the future
14. Knowledge is important- you can't sell a motorcar if no one knows how to drive
1. charge for training!
2. business opportunity
15. Business as a distributed network
1. distributed stakeholders
2. distributed project/production
3. distributed knowledge defined broadly to include skills, experience, capability
4. distributed risk and reward
5. distributed prospects
6. distributed value
7. network effects always important but increasing so due to new economy, Internet, globalization, outsourcing
8. distributed action and cognition needs coordination -- engagement and alignment
1.