Respond to the following in a minimum of 250words: Review Case Study “Turner Test Prep Co,” In the case study, there’s little doubt that Jessica’s energy and eagerness will eventually propel her to s
5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 1/12 Pag e 4 49 C A SE 1 TUR NER TE ST P R EP C O. IN TR O DUCTI ON In th e spr ing o f 2 0 03, Jess ica T urner f el t t h at sh e had co me to a cr ossr oad s wit h h er b u siness. A s th e fo u nd er a nd CE O o f T urner T est P rep, a Ca lif ornia co mpa ny specia liz ing in pr epa ring peo ple fo r t h e Ce rtif ied P ublic Acco unt ant ( CP A) ex am , sh e fel t t h at sh e wa s no t a ch iev ing m ark et sh are and g ro wing in th e rig ht d ir ect ion. A ft er 3 yea rs of pr ovid ing pr ep classes to b oth st udent s an d pr ofessio nals, T urner h ad a b ou t 10 per cent o f t h e m ark et a nd wa s fa cing f ier ce compet itio n fr o m h er pr im ary r iv al, N atio na l T est ing S er vices. U ncer ta in ab ou t wh ich g ro wt h d ir ect ion to t a k e, Jessica co ntem plated sev eral o pt ions. 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 2/12 BACK GRO UN D Jessica T urner st arted T urn er T est P rep in th e su mmer o f 19 97 aft er g ra d u ating f r o m Ca se West ern Reser ve U niv ersit y’s W ea th er hea d S ch ool o f M ana gem ent wit h a m ast er ’s deg ree in acco unt ing . S h e pa ssed t h e CP A ex am a nd b eg an appl ying t o B ig S ix a cco unt ing f ir m s. F ru st ra ted a ft er r eceiv ing sev eral rej ect ions, Jessica b eg an to co nsid er o th er em ploym ent opt ions. H er u nd ergra d u ate deg ree wa s in bu siness, a nd a ft er g ra d u atio n, Jessica wo rk ed f o r sev eral y ea rs in th e bu siness office of a sm all t est pr ep co m pa ny b ased in San Fra n cisco . T he co mpa ny pr epa red st udent s wh o wa nted t o t a k e pr im aril y t h e SA T, GR E, GM AT, M CA T, a nd L SA T. A lt h ou gh h er j o b wa s to m ana ge th e co mpa ny ’s bu siness aff a ir s, sh e also b eg an tea ch ing m ath t o st udent s sev eral nig hts a week . Jessi ca receiv ed t r a ining f r o m t h e co mpa ny in tea ch ing b asic test ing skills, a nd sh e appl ied t h ose sk ills to wa rd t ea ch ing t h e m ath po rtio n of t h e ex am s. S h e receiv ed po sitive feed back f r o m h er st udent s as a co nscient ious a nd inno va tiv e tea ch er. Jessica f el t t h at h er ex per ience as a t ea ch er f o r t h e tes t pr ep co mpa ny h el ped h er wh en she beg an studying f o r t h e CP A exam . S h e knew how to st udy ef ficient ly , h ow to o rg an iz e her no tes, a nd h ow to pr act ice fo r t h e va rio us sect ions. Jessica wa s one of t h e 25 per cent o f st udent s wh o pa ssed a ll sect ions of t h e CP A ex am o n th e fir st t r y . 1 W hen contem plating wh at t o d o nex t, Jessica wa s st ru ck b y t h e fa ct t h at so m any o f h er co llea gu es wer e una ble to pa ss th e ex am . Co nvinced t h at sh e w as no t o nl y sk illed in th e acco unt ing a nd f ina nce principl es bu t a lso in kno wing h ow to st udy ef fect ively, sh e decid ed t o st art h er o wn test pr ep b u siness tea ch ing specif ically t o t h e CP A ex am . S h e wa s confident t h at st udent s and pr ofessio nals wish ing t o b eco me CP As wo uld b enef it f r o m a f u ll- ser vice progra m t h at g ave 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 3/12 student s fu ll cl asses and ind ivid ualiz ed a ttent ion so t h at t h ey co uld pa ss th e ex am . Jessica r et urned t o Ca lif ornia , pu t t o get her a b u siness plan, a nd secu red f ina ncing f r o m a l o ca l v ent ure ca pit al f ir m specia liz ing in sm all st artu ps. S h e decid ed t o f o cu s her b u siness and m ark et ing ef fo rts in th e San Fra ncisco B ay a rea . On th e basis of h er r esea rch a nd t h e Bay a rea ’s co ncent ra tio n of d if fer ent t y pes of b u sine sses, Jessica est imated t h at t h er e wa s a m ark et o f a b ou t 1, 000 st udent s a y ea r. 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 4/12 TH E CP A EX AM Alt h ou gh peo ple wit h u nd ergra d u ate or g ra d u ate deg rees in acco unt ing o r b u siness may d o a cco unt ing wo rk f o r a co mpa ny , beco ming a CP A pr ovid es an ad d it io na l cer tif ica tio n th at em ployer s pr efer . B eco min g a CP A ca n incr ease an acco unt ant ’s sa la ry b y 10 t o 15 per cent 2  and is ty pica lly necessa ry t o secu re upper -lev el po sitions. I n ord er t o b e cer tif ied t o b eco me a CP A, peo ple m ust f u lf il l t h e fo llo wing req uir em ent s: The ex am is offer ed t wo t im es a y ea r, in May a nd N ovem ber . I t is a g ru el ing t wo -d ay, 15 -h ou r ev ent co mpr ising m ult ipl e ch oice, essa y q u est ions, a n d pr ob lem set s. T he su bject s test ed are Business Law and P ro fessio nal R espo nsibilit y, A udit ing , Acco unt ing a nd R epo rting , a nd F ina ncia l A cco unt ing a nd R epo rting . Have a co lleg e or m ast er ’s deg ree wit h 2 4 sem ester u nit s ded ica ted t o b u siness-r elated su bject s, a nd a t l ea st 2 4 cr ed its in acco unt ing ( a m inim um o f t h ree cred its) , au dit ing ( a m inim um o f t h ree cred its) , b u siness la w, fina nce, a nd t a x su bject s; Pass th e CP A ex am ; Have 2 y ea rs of wo rk ex per ience with a b ach elor’s deg ree o r o ne yea r o f wo rk ex per ience with 15 0 co urse cred its. 3 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 5/12 Pag e 4 50 CP A EX AM PR EP SER VICES The CP A ex am v a ries onl y sl ig htly f r o m st ate to st ate. I n ord er to st udy f o r t h e ex am , peo ple ty pica ll y pu rch ase books, so ft wa re, o r a n onl ine course to h el p th em pr epa re.   T he m ater ials usu ally pr ovid e an over view of t h e test ed m ater ial, st udy g u id es, a nd pr act ice qu est ions. T he onl ine tu to ria ls oft en provid e m ore pr act ice qu est ions a nd g iv e student s tim ed ex am s so t h at t h ey ca n sim ula te act ual t est ing cond itio ns. D ue to t h e am ou nt o f m ater ial co ver ed o n th e ex am as wel l a s its lev el o f d if ficu lt y , st udent s are ad vised t o g iv e th em selves 4 m ont hs to st udy. In th e San Fra ncisco B ay a rea , sev eral co mmunit y co lleg es offer o ne- week r ev iew classes to h el p student s pr epa re. T hese cl asses giv e st udent s a st arting po int , a ft er wh ich t h ey co uld u se suppl ement al m ater ials t o st udy o n th eir o wn. 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 6/12 NATIO NAL TEST IN G SER VICES Natio na l T est ing Cent ers (N TC) is Turner ’s pr im ary co mpet itio n. N TC is a na tio na l t est pr epa ra tio n co mpany t h at h as been in exist ence since 1962. T he co mpa ny f o cu ses on vir tu ally ev ery st and ard iz ed t est t h at is offer ed a nd h as pr ogra m s fo r h ig h sch ool st udent s ta k ing t h e SA T, und ergra d u ate st udent s ta k ing g ra d u ate sch ool ent ra nce test s (su ch a s th e GM AT, L SA T, GR E, a nd M CA T), a nd g ra d u a te st udent s ta k ing cer tif ica tio n test s lik e th e bar a nd CP A ex am s. In ad dit io n, t h e co mpa ny h as a pr ogra m d esig ned f o r int erna tio na l st udent s ta k in g t h e Test o f E ng lish a s a F oreig n Lang uag e (T O EFL ) ex am . NTC is a f u ll- ser vice progra m t h at o ffer s a v a riet y o f o pt ions fo r st udent s ta k ing a ny o f t h es e ex am s. M ost co urses offer t h e oppo rtu nit y t o h ave cl assr oom l ect ures, h om e-study vid eo ta pes, b ooks, so ft wa re, o nl ine test s, o r a co mbin atio n of any o f t h ese opt ions. The CP A co urse does not o ff er l iv e cl assr oom sessio ns b u t g iv es student s th e opt ion of b ooks, so ft wa re, a nd o nl ine tes ting f o r one or a ll o f t h e area s co ver ed o n th e ex am . S tu dent s also h ave a t o ll- fr ee number t h at t h ey ca n ca ll if t h ey h ave qu est ions as wel l a s onl ine chats wit h N TC inst ru ct ors to a nswer q u est ions. NTC offer s st udent s a f r ee repea t co urse if t h ey d o no t pa ss th e CP A ex am a nd b oast s a 7 5 per cent pa ss ra te. T he co urse is priced f r o m $ 1, 000 t o $ 1, 50 0, d epend ing o n wh ich o f t h e ser vices th e st udent ch ooses. M any o f N TC’ s st udent s a re repea ter s wh o init ially ch ose to st udy o n th eir o wn an d u se a book o r so ft wa re pa ckag e. S u ch st udent s are ded ica ted t o pa ssing t h e seco nd t im e th ey t a k e th e ex am a nd wa nt t h e st ru ct ure th at t h e co urses pro vid e. N TC pr ovid es a st udy sch edule, st udy t ech niques, a nd inf orm atio n ab ou t h ow to t a k e 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 7/12 th e ex am t h at, it b oast s, ca nno t b e fo u nd in any o th er co urse on th e m ark et . M any o f N TC’ s st udent s have also t a k en an NTC co urse fo r a pr evious ent ra nce exam . N TC boast s a h ig her o ver all pa ss ra te fo r a ll it s co urses th an any o th er t est pr ep cent er in th e co unt ry . P eo ple wh o h ad t a k en a co urse fo r t h e GM AT a nd h ad pa ssed , fo r ex am ple, f el t co nfident t h at t h ey wo uld b e eq uall y pr epa red fo r pa ssing t h e CP A ex am . I n a su rv ey o f u nd ergra d u ate st udent s wh o h ad t a k en NTC fo r t h e SA T, 8 5 per cent sa id t h ey wo uld t a k e ano th er N TC co urse to pr epa re th em f o r a g ra d u ate sch ool ent ra nce exam . 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 8/12 TH E TU RN ER TEST IN G AD VANT AGE Despit e N TC’ s su ccess, Jessica k new th at wit h a pa ss ra te of onl y 2 5 per cent f o r f ir st -tim e ta k er s, t h er e wa s a need t o pr ovid e a co mpr eh ensiv e pro gra m t o st udent s so t h ey co uld pa ss on th eir f ir st t r y . S h e dev ised a f u ll- ser vice progra m t h at la st ed f o r 6 week s and wa s 3 to 6 h ou rs per d ay. S h e wo rk ed wit h a cco unt ing , f ina nce, a nd l a w pr ofesso rs to d esig n a cu rricu lu m t o g iv e st udent s a co mpr eh ensiv e appr oach t o st udying f o r t h e ex am . S h e h ir ed t h e pr ofesso rs to g iv e th ree liv e, o ne- hou r l ect ures per d ay, a nd sh e ta u gh t t h e tes t- ta k ing tech niques and o rg aniz ing sk ills necessa ry t o ea sil y a ssim ilate th e m ou nt ains of inf orm atio n th at st udent s need ed t o k no w. Jessica a lso pr ovid ed a u dio ta pes fo r st udent s so t h at t h ey co uld r ev iew th e lect ures at h om e and su ggest ed t h at t h ey l ist en to t h em in th eir ca rs to m ax im ize th e use of t h eir t im e. T he co urse a lso incl uded sev eral t im ed m init ests fo r ea ch t o pic and f o u r pr act ice essa y q u est ions, w hich Jessica a nd h er pr ofesso rs g ra d ed . T he respo nses to es sa ys incl uded m any co mment s and feed back t o g iv e st udent s gu id ance on area s to im prove. Jessica a lso m ad e her sel f co mpletely a va il ab le to h er st udent s. Sh e fel t t h at o ne- on- one attent ion wa s cr itica l t o t h eir su ccess, and sh e hel d b iweek ly m ee ting s wit h ea ch st udent t o g au ge pr ogress and a nswer q u est ions. I n ad d it io n to t h e m eet ing s, student s co uld ca ll Jessica o r e- m ail h er wit h q u est ions, a nd sh e pr om ised t o g et b ack t o t h em wit hin 24 h ou rs. Jessica h el d t wo sessio ns a y ea r in March a nd S ept ember , 3 m ont hs pr ior t o t h e ex am s, a llo wing st udent s to co ntinu e to st udy o n th eir o wn bef ore th e ex am s. S h e also m ad e her sel f ava il ab le to st udent s aft er t h e co urse to a nswer t h eir q u est ions and h el p th em in any wa y sh e co uld . P ricing h er co urse at 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 9/12 Pag e 4 51 $ 1, 10 0 per st udent , sh e fel t t h at sh e wa s pr ovid ing h er st udent s with m ore of a n ad va nt ag e and b et ter pr epa ra tio n th an any o f th e N TC opt ions. S h e also o ffer ed a g u ara nt ee, a ll o wing st udent s to r epea t t h e co urse if t h ey d id no t pa ss th e ex am . Jessica h ad t a k en a y ea r t o d ev elop th e m ater ials and cr ea te a m ark et ing pl an fo r h er co mpa ny . S h e decid ed t o   pl ace ad s in Bay a rea b u siness schools to a ttr a ct st udent s co ntem plating t a k ing t h e ex am a ft er g ra d u atio n. S h e also cr ea ted f ly er s to b e pl aced in th e sch ools and a sk ed t h e sch ool a d m inist ra tio ns if sh e co uld pl ace th em in student s’ mail boxes. S h e int ro d u ced h er sel f t o l o ca l b u sinesses and t r ied to a ler t t h em t o h er pr ogra m so t h at u p- and -co ming acco unt ant s wo uld b e enco ura g ed t o t a k e her cl ass if t h ey wa nted t o t a k e th e CP A ex am . The fir st y ea r t h at sh e ra n th e pr ogra m sh e had 10 st udent s. Despit e th e sm all cl ass siz e, st udent s fel t t h at t h ey h ad b een wel l pr epa red f o r t h e ex am a nd a ppr ecia ted t h e ind ivid u al a ttent ion th ey r eceiv ed. A ll st udent s pa ssed t h e ex am . T he seco nd co urse had 4 5 st udent s, 7 0 per cent o f wh om p assed . The la st sessio n th at sh e held h ad 10 5 st udent s, a nd 8 0 per cent of t h ose student s pa ssed . Jessica d id no t f eel co mfo rta b le a d ver tising h er pa ss ra te, h owev er, b eca use many o f h er st udent s had t a k en th e CP A ex am o ne or t wo t im es bef ore and fa il ed . S h e wa sn’ t su re wh ether t h ey pa ssed a ft er t a k ing h er co urse beca use of t h e qu alit y o f t h e pr ogra m o r b eca use th ey wer e bou nd t o pa ss it a t so me po int . Jessica d id so me co st a nd rev enu e est imates ind icated in  E xh ib it 1 . 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 10/12 EXH IB IT 1 O pe ra tin g Co sts f or T urn er T estin g S erv ic es Pr ofes so r s al ar ies (ab ou t 1 ,2 00 h ou rs p er year ) $75 p er hou r O ffi ce s pac e $2,0 00 p er mon th U tilit ies an d i n su ran ce $ 1,0 00 p er mon th M at er ial s $ 6 00 p er stu den t Prin tin g $ 5 00 p er mon th M ar ket in g $ 4 00 p er mon th T ra vel $ 2 00 p er mon th 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 11/12 SPR IN G 2003 By t h e spr ing o f 2 0 03, Jess ica h ad f inish ed t ea ch ing t h e co urse fo r t h e M ay ex am a nd wa s lo oking f o rwa rd t o t h e Sep tem ber cl ass. A lt h ou gh sh e wa s pl ea sed t h at t h e nu mber o f st udent s in ea ch sessio n wa s rising , sh e f el t co ncer ned t h at sh e wa s no t mak ing eno ugh o f a n im pact in th e m ark et . W ith o nl y 10 per cent o f t h e m ark et t a pp ed, Jessica wa nted t o k no w how to im prove her m ark et ing a nd g ain mark et sh are. S h e also wo ndered if sh e need ed t o f o rm at t h e co urse dif fer ent ly t o a ttr a ct st udent s wh o d id no t wa nt t o a ttend l iv e lect ures. S h e had init ially b el iev ed t h at st udent s wo uld b enef it f r o m a st ru ct ured pr ogra m t h at k ept t h em o n tr a ck , b u t no w sh e wa s not so su re. M any t im es student s did no t co me to cl ass bu t opt ed t o l ist en to t h e ta pes at h om e. F ina ll y , Jessica r ea liz ed th at in her z ea l t o g et h er b u siness up and r u nning sh e h ad neg lect ed t o ca lcu la te her b rea k-ev en point . H ow many st udent s did Jessica need t o b rea k ev en, a nd a t wh at p oint co uld sh e reco gniz e a pr ofit ? Sh e rea liz ed t h at t h ese were all cr itica l q u est ions th at need ed a nswer s to ensu re th e fu tu re su ccess of h er b u siness. 5/9/23, 6:35 AM Turner Test Prep Co https://prod.reader -ui.prod.mheducation.com/epub/sn_b4dc/data-uuid-807db6e2f5404efb8c5854cd9c0280d2 12/12 END NOTES Sourc e : T his c a se s tu dy w as p re p are d b y M ichael P . P ete rs w ith t h e in te n tio n o f p ro vid in g a b asis f o r c la ss d is cu ssio n. 1. w ww.mi cro mash .n et . 2. w ww.c p az on e.o rg . 3. w ww.p ic p a. org .