Best Financial Practices

Also, the organization's mindset is directed towards the future with an awareness of the hanging trends, market needs, technological advancements, and to cope and to operate within the changing environment (Herkimer, Jar. , 1988). Budgeting, expressed In dollar terms, involves detailed plans. There are several types of budgets that may dictate the organization's mission and structure and managerial preferences. They are: 1) Statistics Budget; 2) Expense Budget; 3) Operating Budget; and 4) Cash Budget.In addition to budget decisions, there Is timing. Healthcare services organizations should consider two types: 1) Conventional verses Zero-Based Budgets and 2) Top-down versus Bottom-up Budgets. Planning and budgeting are Important managerial activities. It allows health services managers to plan for and set expectations for the future, assess Flanagan performance on a timely basis, and ensure that operations are carried out In a manner consistent with expectations (Sheepskin, 2008).With out planning and budgeting, the business will be disorganized Pricing and Service Decisions In healthcare organizations, the managerial accounting department decides whether an established price for a particular service is profitable. Managers in a charge- based environment must set prices on the services that their organization offers. In addition, determine discounts for managed care plans or business coalitions. Pricing and service decisions affect a business's revenues and costs and determine viability in long term.Health services managers should have a better understanding of the pricing and service decisions they face, because they have the power to set prices. The healthcare providers may be price takers or price setters. When they are price takers, apply target costing, and when they are price setters, apply full cost pricing or marginal cost pricing. In making pricing and service decisions, managers should rely on managerial accounting and actuarial information.Pricing deci sions involve setting prices on services for which the provider is a price setter, and service decisions involve whether or not to offer a service when the price is set by the pay (the provider is a price taker) (Sheepskin, 2008). Without good pricing and service decisions, the business will lose profit and/ or lose customers. Ultimately, it can lead to business closure. Cost Allocation Cost allocation is a pricing process within the organization whereby managers allocate the costs of one department to other departments.There is no objective tankard established; therefore, a business must establish prices that would be set under market conditions. The purpose and goal for cost allocation is to assign all of the costs of an organization to the activities incurred (Sheepskin, 2008). Basically, cost allocation allows managers to make better decisions on cost control, on what services they provide, and how these services should be priced. The best results produced will come from manager s who perceive the cost allocation process to be accurate and fair, and the allocation process should promote cost reduction within heir department/organization.In the end, the managers will be held accountable for costs associated with services by their departments. Managers must know two important elements in cost allocation basics: cost pools and cost drivers. The more confidence that all managers have in its validity, the better the organization will function (Sheepskin, 2008). Without cost allocation, there will disorientation and chaos, because one department will have more cost allocated than the other. Time Value Analysis Time value analysis is the process of assigning appropriate values to cash flows.This s important part of healthcare financial management because it involves the valuation of future cash flows (Sheepskin, 2008). A timeline is the first step in time value analysis. Time lines illustrate and can help managers visualize cash flows analysis such as compounding, discounting, annuity, perpetuity, state rate, and periodic rate that managers must know so that financial decisions are made wisely. Without time value analysis, managers would not be able to appropriately assign values to cash flows, and it could lead to disorientation and financial ruin.Financial Risk and Required Return Unfortunately, there are risks and complications in businesses. In healthcare organizations, taking financial risks may mean investment in new hospital beds or a new managed care plan. A return that is earned less than the expected amount means the financial risk is greater. Managers in health care organizations should develop strategies to manage business and financial risk. One such strategy is to develop risk measures by using a standard of reference. This will allow for some comparison to another measure and a Judgment can be made.For an example, Capital Asset Pricing Model (CAMP) is the relationship between the market risk of a tock, as measured by its marke t beat, and its required rate of return (Sheepskin, 2008). A clear understanding of business and financial risk is essential if the health care organization wants to remain viable in the health care market. Without an understanding of the financial risk and required return, health care organizations can be blind to concepts that are failing and destined for financial ruin.They run a greater risk of losing profit. Reflection The various duties required by managers of healthcare organizations is complicated and multi- faceted. They must know so much in order to make the business run efficiently and successfully. They must understand a multitude of functions. Therefore, working with other experts, accountants, and managers from different departments is crucial in running a lucrative business. This includes planning, acquiring, and utilizing capital in the most efficient way possible.

Hyundai: A Global Success Story

The automotive industry is among the largest and most global sectors in the world. Any shift in the automotive industry has consequences for firms around the globe. Hyundai Motor Company (HMC) is a rising star in the global automotive industry. South Korea's number one carmaker, HMC produces about a dozen models of cars and minivans, as well as trucks, buses, and other commercial vehicles (www.hyundai-motor.com). Popular exported models are the Accent, Elantra, and Sonata. The Korean firm has managed to internationalize successfully seemingly against all odds.The Car Industry on a Global ArenaWith many competitors battling for market share, car makers such as Toyota, Nissan, Honda, Hyundai, General Motors, Ford, DaimlerChrysler, Renault, and Volkswagen operate on relatively thin margins. The automotive industry has been suffering from excess production capacity. Although there is a capacity to produce 80 million cars globally, total global demand runs at only about 60 million a year. Thus, car manufacturers typically employ only 75 percent of their production capacity.However the car industry is extremely capital intensive and, with so much competition, firms should use at least 80 percent of their production capacity in order to remain competitive. It is tough to stay afloat under such competitive conditions and the industry has seen numerous mergers and acquisitions in recent years. Consolidation has occurred between Ford and Land Rover, Jaguar and Volvo, and DaimlerBenz with Chrysler, to name a few.South Korea and the Auto IndustryAgainst this background, HMC has faced various mishaps. The South Korean economy endured a recession in the late 1990s as a result of the Asian Monetary Crisis. The economy comprises numerous family-owned conglomerates, or chaebol. The combined sales of the nation’s five major chaebols — Hyundai, Samsung, Daewoo, LG, and SK – amounted to roughly 40 percent South Korea’s GDP and total exports. Over time, these giant firms expanded rapidly, borrowing from their own banks to finance often reckless expansion into unrelated industries. Financial blunders led the Korean government to  impose greater transparency and more stringent accounting controls.In the automotive industry, Kia Motors, Korea’s third largest maker went bankrupt and Daewoo was sold off to General Motors. While domestic demand in South Korea is some two million cars, total productive capacity had reached five million. Exporting was a necessity. HMC’s debt burden had reached five times its equity, and the firm was suffering massive losses. The future was very uncertain. HMC was using less than 40 percent of its total production capacity, with a debt of around $30 billion. In 1998, HMC took control of Kia, becoming the South Korea’s biggest car maker and holding three-quarters of its domestic car market as well as passing Japan’s Mitsubishi and Suzuki in world ranking.Early Internationalizati on EffortsChung Ju Yung was HMC’s founder. A workaholic from a peasant background, at age 85, Mr. Chung was determined to return HMC to profitability. All his life, whenever he set his mind on something, he would always found a way to achieve it. The Hyundai conglomerate was founded in 1947 in the construction industry, and over the next fifty Mr. Chung expanded his dynasty into car manufacturing, oil refining, electronics, banking, and insurance. HMC was founded in 1967. Mr. Chung passed on his ‘never-give-up’ values to his son, Chung Mong Koo, who took over as Chairman in 1998. The younger Mr. Chung was very detail oriented, and attached great importance to producing quality products. He is often quoted as saying: â€Å"Quality is crucial to our survival. We have to get it right, no matter the cost.†In the late 1970s, HMC had begun an aggressive effort to develop engineering capabilities and new designs. In 1983 HMC started its Canadian operation, the fi rm’s first foreign investment venture. But the operation proved unprofitable and was shut down after only four years. Despite this disastrous outcome, HMC management learned a great deal from the experience.Instead of FDI, HMC began exporting to the U.S. market with the Excel as an economical brand with a $4,995 price tag. The car was soon a big success with exports rising to 250,000 units per year. Unfortunately, various  problems emerged: the Excel was perceived as a low-quality car and the weak dealer network was not producing enough sales. Consumers were losing faith in Hyundai and the firm’s brand equity began to deteriorate. The U.S. is the largest car market in the world and management had to do something drastic to turn things around.Ultimately SuccessfulIn response to complaints about product quality, HMC introduced a â€Å"10 year warranty† program. The rationale was that, in order to erase any negative image, management had to go beyond the typical guarantee period and offer a very substantial warranty. The strategy was a major turning point for Hyundai, and the firm set about designing and building cars based on much higher quality standards. While still maintaining low prices, HMC was able, over time, to provide substantially extra value to consumers.Another major step was geographical diversification. Putting lessons from the failed Canadian investment into practice, HMC built a factory in Turkey in 1997, in India in 2000, (with second plant in 2007), and in China in 2002. The main advantage of these plants is the inexpensive, high quality labor available at these locations. The Turkish plant gave HMC a foothold in the Middle East, a market it wants to develop. Turkey’s proximity to Western Europe is also a major advantage. In 2006, HMC had more than ten production plants in locations such as Taiwan, Vietnam, Iran, Sudan, and Venezuela. HMC’s first U.S. plant opened in Alabama in May 2005, with an investment o f $1.1 billion and annual production of 300,000 cars.Automotive industry labor costs make up only 10 percent of total operational costs. In order to be able to gain a competitive edge, therefore, not only must HMC seek out cheap labor, it must also source from locations that can supply low-cost input good (such as engines, tires, car electronics, etc.). The cost-effectiveness of suppliers is a life and death matter in the global automotive industry. HMC is cooperating with DaimlerChrysler to develop new technologies and improved supply chain management. Projects include a new four-cylinder engine and a joint purchasing plan.By investing in Kia, HMC gained access to the firm’s competitive advantages in R&D and production. During its lifetime, Kia had managed to acquire a substantial base of highly knowledgeable workers, engineers, and design staff. Together, the two firms achieved synergies and economies of scale in R&D, engineering, purchasing, quality control, and marketing. HMC also invested in R&D centers in North America, Japan, and Europe.HMC TodayHyundai has been the world’s fastest growing major automaker since 1999. Sales in the U.S. increased by 360 percent from 1998 to 2004. HMC’s growth is coming from international markets. These days the firm generates about a third of its sales from North America and 10 percent from Europe. The firm’s profit margins are among the highest in the industry, worldwide. It has won numerous quality assurance prizes from reliable organizations such as Consumer Reports, J. D. Power and Associates, and the 2005 Total Quality Study. Chairman Chung was named one of most successful businessmen in the world by Business Week magazine.HMC invests heavily in various value-chain activities. It utilizes FDI to develop key operations around the world. Management chooses foreign locations based on the advantages they can bring to the firm’s global business. R&D is targeted to developing safer, more convenient automobiles of superior quality. HMC is developing environmentally-friendly technologies that emphasize fuel efficiency. HMC conducts market research to help with choosing designs, as well as interior and exterior styling of automobiles.HMC aims to become one of the top five global car manufacturers by 2010. Hyundai plans to have a 20 percent share of the Chinese market. To that end the automaker has signed a $1.24 billion joint venture with Guangzhou Motor Group, giving HMC access to the commercial-vehicle market in China. With 1.3 billion people increasingly anxious to buy passenger cars and trucks, China will be a major market for HMC. The firm benefits from its proximity to China and management’s understanding of the Chinese culture. Chung Ju Yung’s ‘can do’ spirit prevails throughout the entire HMC network.

Financial Statement Essay Example | Topics and Well Written Essays - 3000 words

Financial Statement - Essay Example Since it should be goal of he company to benefit its shareholders, it is called bottom-line measure of performance. Accordingly it is 22.5 % as calculated below Return on equity= Net profit after tax/ Total equity =m 467/ 2074 = 22.5 % for 2005-06 = " 392/1397 = 28.06 % for 2004-05 The decline in ROE in 2005-06 is due to abnormal increase in other reserves shown under equity... This is also known as Return on capital employed (ROCE) and also calculated on pretax profit. Liquidity/Solvency Liquidity means the speed and ease with which an asset can be converted into cash. Liquidity has two dimensions. Ease of conversion versus loss of value. Any asset can be converted into cash if its price is cut sufficiently. A highly liquid asset is therefore one that can be sold without significant loss of value. An illiquid asset is one that cannot be quickly converted into cash without a substantial price reduction. Assets are listed on the Balance Sheet in order of liquidity meaning that the least liquid assets are listed first. Current assets are Cash and those assets convertible into cash over the next 12 months. Bills Receivable for instance represents amounts collectible from the customers for sales already made to them. These are therefore expected to be realised in the near future. Inventory that is stock-in-trade is the least liquid of the current assets. Current Ratio is one of the best known and most widely used ratios to ascertain company's solvency/liquidity. It is defined as Current Ratio = Current Assets / Current Liabilities CurrentAssets m 3,666/Current Liabilities m 3,432 = Current Ratio1.07 for 2005-06" " 2,752/ "...Assets are listed on the Balance Sheet in order of liquidity meaning that the least liquid assets are listed first. Current assets are Cash and those assets convertible into cash over the next 12 months. Bills Receivable for instance represents amounts collectible from the customers for sales already made to them. These are therefore expected to be realised in the near future. Inventory that is stock-in-trade is the least liquid of the current assets. The current ratio of 1.07 indicates that company is efficient enough to use all its current assets without keeping them surplus and idle. It has also shown remarkable improvement from the last year's negative current ratio of 0.84. Quick ratio is calculated ignoring the value of inventory included in current assets for its obvious shortcomings of the least liquid of all current assets besides possible overvaluation and inclusion of damaged, obsolete and lost stocks. It can also include over purchased and slow moving items. These will impede liquidity. Quick Ratio or Acid -Test ratio is so named to indicate the current assets sans inventory's quicker liquidity. BA has no stock in trade as mentioned above except for "expendable spares and other inventories" valued m 83 since it is a service industry.

World war 1 Essay Example | Topics and Well Written Essays - 500 words

World war 1 - Essay Example he abrupt cause of the war was entrenched in the conclusions reached by statesmen and generals during the July Crisis of 1914, which saw the assassination of Archduke Franz Ferdinand of Austria and his wife by an irredentist Serb (Ferguson 1-11). The conflict came after a long and complicated series of diplomatic collision between the Great Powers including France, British Empire, Italy, Austria-Hungarian Empire, Germany and Russia over colonial and European concerns in the decade before 1914 that had precipitated a high tension. Consequently, these diplomatic collisions can be traced to amendments in the balance of power in Europe since 1867. The more abrupt cause for the war was tensions over territory in the Balkans. Russia and Serbia competed with Austria-Hungary for territory and power in the region and they pulled the rest of the Great Powers into the collisions through their various coalitions and treaties. In November 1912 Russia, mortified by its incapacity to support Serbia during the Bosnia crisis of 1908, announced a major reconstruction of its military (Harrison 30-45). The start of World War I has exceedingly been attributed to imperialism. Countries such as France and British Empire amassed great wealth in the late 19th century through direct control over foreign trade in foreign resources, territories, markets and people. Further empires, Austria-Hungary, Russia, Italy and Germany held high hopes of controlling foreign trade too. Their humiliated dreams and United Kingdom guidelines of strategic omission precipitated tensions. Furthermore, the limits to natural resources in many European nations began to gradually change trade balance, and made national industries hunt for new territories rich in natural resources. Profit-making interests contributed considerably to Anglo-German competition during the scuttle for tropical Africa. This was the landscape of the sharpest disagreement between particular German and British money-making interests.

Acquiring Business Communication Skills Necessary for Business Essay

Acquiring Business Communication Skills Necessary for Business Graduates - Essay Example From this study it is clear that at the same time, in the process of effective communication, all participants who take part in this process must possess proper and equal knowledge, after completion of the process. So, success of information distribution and evaluation, after a communication process, implies adequacy of the concerned communication skills. Good communication skills enjoyed by an individual helps him or her to experience an enhancement in all domains of life. The context of the paper will first identify and evaluate the types of general communication skills and then, will analyze the types of business communication skills. After this, the paper will state some empirical cases, which shows that business communication has significantly helped in improving the business of certain organizations. Finally, the researcher would precisely recommend the required communication skills for students of the University.  This paper outlines that  interpersonal communication skill s are attributes required when individuals are in a face-to-face communication process. It involves two or more individuals. Verbal communication is a type of interpersonal skill. This skill elaborates effectiveness of the speech of an individual.  Non-verbal interpersonal skill comprises God-gifted attributes like, personal appearance and self presentation. The effectiveness of such a communication process depends on body language, gestures, facial expression, signals and physical outlook of the communicator.

Old Turtle Story Essay Example | Topics and Well Written Essays - 1000 words

Old Turtle Story - Essay Example Thus, it is vital for humans to handle nature with most peculiar care and respect. Moreover, presence of ancestors and voices of natural entities proclaim the need to preserve them for human survival and future generations. Thus, a supernatural force has always been needed for humans to guide them of their wrong actions. ‘Old Turtle’ by Douglas Wood is a tale which revolves around many themes. However, the most notable of those are two, which declare that the presence of God can be seen and felt in his creation and natural life of Earth has been a power and sign of God’s presence. Since, the inception humans argued about the presence of God and that created a chaos and discord on Earth. Therefore, the author eventually signifies through animals, rock, mountain, river and breeze (every God created entity) that God is present and need not to be seen but felt and believed in. Existence of God, spirits, and life on Earth is closely intertwined and that was the core religious ideas for the preliminary habitants of Earth. According to Ake HultKrantz, due to geographical location Native American tribes mainly believed in spirits, shamanism, hunting and animal rituals as both cultural and religious practices (12). Same can be observed in ‘The old turtle’ when different animals associated God’s presence in the excellence of their personal trait. In the tale, animals and natural entities like breeze and rocks have voices so to speak of their presence and significance. Thus, wise turtle sums up how to consider mightiness of God at the supreme level of each and every trait of all the species of Earth (Wood). Simultaneously, Native American life style was closely associated to nature (popular perceptions like mother Earth) thus, hunting and belief in spirits were considered religious trait and due to tribal life style differences in religious norms appeared as none of the tribes

Explore the presentation of and possible difference between addiction Coursework

Explore the presentation of and possible difference between addiction and obsession in Winterson's 'Oranges are not the only fru - Coursework Example Christina Rossetti and Jeanette Winterson are two great writers who bought out the deep desires for women through their literary works. Christina Rossetti was one of the renowned female poets of the Victorian times, who explored the forbidden territory through her work. Rossetti was born in 1830. She was one of the earliest women writers to express the unquenchable feeling of search in her poems. She put desires and mistakes of mankind in common to both men and women in an era where spiritualism as well as passion was reserved only for the male gender. Her poems were perhaps the first to claim women had more needs apart from being the heartthrob of a brave man and mother of many. One other writer who explored the world of women in a way no one else did before is Jeanette Winterson. â€Å"Oranges are not the only fruit† is more or less Jeanette Winterson’s autobiography. She expresses the confusion of modern day women on realising her own self and the rules religion forc es her to follow. If Christina Rossetti’s poems are a mirror of the past century, Jeanette Winterson’s prose works are an exploration into the modern day woman’s position. However, there were a hundred years in the middle during when women evolved slowly through a harsh path. â€Å"A Streetcar Named Desire† written by Tennessee Williams with Blanche Dubois as the female protagonist is by far the best portrayal of women in that era in. Blanche, the heroine of the play is a person who explores her sexuality boldly with numerous people. She tries to protect herself from her own desires for the sake of maintaining sanity and social respect. The play portrays the dilemma of women in the transition era. Christina Rossetti published "Goblin Market and Other Poems" in 1862. Elizabeth Barrett Browning, one of the most prominent female poets of the Victorian era had died the previous year. Rossetti was looked upon as her natural successor partly due to her good fam ily background and its associations with numerous artists and writers. She started writing at a very young age and her first works got published when she was just 31. Rossetti explored the banned with her words in an era where women faced very strict confinements. Her poems were perhaps the first to claim women had more needs apart from being the heartthrob of a brave man and mother of many. Jeanette Winterson was bought up in a Pentecostal Evangelical family. She wrote her book in 1985 when the women writers were busy creating Harlequin romances. Readers bombarded by the Mills and Boon novels saw "Oranges are not the only fruit" as a fresh work done by a genius writer. She represents the confusion of modern day women on realising their own self and the rules religion forces them to follow. Rossetti’s works are known for beautiful rhyming and simile usage. Assonance and alliteration in certain verses of â€Å"Goblin Market† like â€Å"hoary roaring sea† and th e picture it creates in our minds with vivid descriptions are wonderful. In the passage where the goblins smear Lizzie with fruit all over her body, she places her rhyming lines ‘distance’ and ‘resistance’ nearly nine lines apart. But, it still sounds perfect. Making the rebellious heroine like Lizzie and Lara ready to try the banned emerge victorious is a rare thing to find in the early 19th century literature. Plays like â€Å"A streetcar named desire†

Personality Disorders Essay Example | Topics and Well Written Essays - 1500 words

Personality Disorders - Essay Example Most times these connections go beyond involvement with the service user alone and extend to his/her care givers and families. To establish and maintain the connections psychiatric mental health nurses need not just communication skills but also specialized skills in understanding and accepting mental health problems along with a strong sense of ethics and responsibility. This lesson is designed to help the students gain a comprehensive understanding of the various personality disorders that affect patients. It proposes to help them recognize these disorders within patients based on their outward features and to help plan patients’ care based on their evaluation. Long Term Content Goal : To understand the different kinds of personality disorders that afflicts patients and recognize the nursing care needed by each different group Learning Outcomes : The learning outcomes from this lesson are identified as follows – Examining of linkages between psychology and nursing pra ctice on the illness-health continuum. Knowledge and understanding of personality disorders and its various clinical features needed to meet the needs of patients. Demonstrating proficiency in professional judgment while identifying personality disorders among patients. ... Identify the key symptoms and characteristics of each disorder. Recognize the treatment plan available for treating the various disorders. Explain the ethical role psychiatric mental health nurses have to play while administering nursing care. Prerequisite Learner Skills : The learner should posses the following characteristics while attempting to follow the lesson plan – Analytical thinking Self-learning abilities Social cohesion while working in a team Striving for personal improvement Skills in creatively solving problems Knowledge of using technology tools Instructional Design Model : This lesson plan hopes to focus its energies on the learner and hence the instructional design model adapted for this lesson is the Morrison, Ross and Kemp model (Morrison, Ross, & Kemp, 2004). The model consists of nine elements arranged in an oval shape – 1. Instructional problem identification and goal specifications of an instructional course, 2. Examination of learner’s cha racteristics based on instructional decisions, 3. Subject content identification with task analysis related to goals and purposes, 4. Instructional objective specifications, 5. Instructional units arranged in logical and sequential order for learning, 6. Instructional strategies designed to meet the mastery of lesson objectives, 7. Plan and develop instruction, 8. Evaluation instruments for measuring course objectives and 9. Resource selection for instruction and learning activities. (Morrison, Ross, & Kemp, 2004) Figure 1: The Morrison, Ross & Kemp Model Content Outline : Learning Objectives Content Instructional Method Introduce the topic The DSM-IV characterizes personality traits as enduring patterns of perceiving, relating to, and thinking about the

Assess Whether Religious Experience Demonstrates the Existence of God Essay Example for Free

Assess Whether Religious Experience Demonstrates the Existence of God Essay

Social and Formal Groups Comparison Essay Example for Free

Social and Formal Groups Comparison Essay I suppose that the Cornerstone Hospice center where I do volunteer work counts as a formal organization. As for a social group I did attend a church social club for mother’s years ago. With the social group all activities were pretty much the same for all. We did potluck each week and rotated who brought what. We did arts and crafts and rotated on who’s idea would be used and we had older more experienced moms as guest lecturers. As for the Formal group activities varied from one’s education and or experience and training. Only nurses could do their jobs and so on. I worked the office doing filing, sorting, or putting together booklets or filling orders for the nurses. They trained me to see and spend time with hospice patients but everyone pretty much had their place. Hierarchy in the social group didn’t exist and in the formal it went according to their position in the company. The norms for the social group were just to participate and for the formal group we had pages of information we had to go through study sign and were tested on. Membership Criteria for the social group was just that you were a mom or an expectant mom. They advertised in the city local paper and the church paper. As for the formal group anyone can volunteer however a back ground check has to be passed, you also have to be trained and pass all tests, and have a current Hepatitis vaccine. I sought them out since I wanted to do volunteer work and knew hospice centers took volunteers. Relationships with the social group were primary whereas with the formal group it seemed to be more of selective primary ties. Communications in the social group were always face to face and very friendly whereas in the formal group it varied from face to face to formal and in writing. Focus of the social group was person oriented and the formal group was task oriented because the task of seeing to it that the patients on hospice were getting the right kind of care was the number one goal and task of all of us. Reference: Macionis, John J. (2011). Society: The Basics (11th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Retrieved from University of Phoenix Axia, Soc120 – Sociology course website.

Advantages and Disadvantages of Inventory Management Systems

Advantages and Disadvantages of Inventory Management Systems INVENTORY The term inventory derives from the French word inventaire and the Latin word inventariom which simply means a list of things which are found. The term inventory includes materials which are in raw form, or are in process, in the finished packaging, spares and the others which are stocked in order to meet all the unexpected demands or distribution in the future. This term usually refers to the stock at hand at a particular period of time of all those materials which are in raw form, those goods which are in progress of manufacture, all the finished products, merchandise purchased products for resale of those products, tangible products which can be seen, touched, measured or are countable. In a connection with the financial statements and records of accounting, the reference may be to the amount assigned to the stock or the pile of goods owned by an enterprise at a particular period of time. Inventory controls transit and handling. The raw materials may be transported thousands of ki lometers before they are converted into an end product. At the same time, materials which are in transit, may take a period of several days or months. During this process of transit, materials carry someone’s inventory. These Inventories serve to isolate the supplier, the producer and the consumer. Inventories permit the acquirement of raw materials in economic lot sizes as well as processing of these raw materials into finished goods in the most economical quantities. Raw material inventories distinguish the supplier of raw materials from the user of these raw materials. Finished goods inventories distinguish the user of the final goods from the producer of the goods. Inventories are held to facilitate product display and service to customers, batching in production in order to take advantage of longer production runs and provide flexibility in production scheduling. There are four types of inventories: Production inventories MRO inventories In process inventories Finished goods inventories Objectives of inventory management To ensure a continuous supply of raw materials and supplies to facilitate unhandled production. To maintain required quantity of finished goods for smooth sales operation and efficient customer service. It permits the acquirement of raw materials in economic lot sizes as well as processing of these raw materials into finished goods is the most economical quantity known as economic lot size. It reduces the dependencies of one another and enables the organizations to schedule their operations without getting dependent on each other. It helps to reduce those costs which have been occurred during the material handling. It helps to utilize people and materials reasonably. It controls display of the products and services provided to the corresponding customers. INVENTORY SYSTEM An inventory system facilitates the organizational structure and the operating policies for maintaining and controlling materials to be inventoried. This system is responsible for ordering and receipt of materials, timing the order placement and keeping record of what has been ordered, how much ordered and from whom the order placement has been done. There are two models of inventory system:- The fixed order quantity system The fixed order periodic system FIXED ORDER QUANTITY SYSTEM The fixed order quantity system is also known as the Q system. In this system, whenever the stock on hand reaches the reorder point, a fixed quantity of materials is ordered. The fixed quantity of material ordered each time is actually the economic order quantity. Whenever a new consignment arrives, the total stock is maintained within the maximum and the minimum limits. The fixed order quantity method is a method that facilitates for a predetermined amount of a given material to be ordered at a particular period of time. This method helps to limit reorder mistakes, conserve space for the storage of the finished goods, and block those unnecessary expenditures that would tie up funds that could be better utilized elsewhere. The fixed order quantity may be bridged to an automatic reorder point where a particular quantity of a good is ordered when stock at hand reaches a level which is already determined.   Advantages: Each material can be procured in the most economical quantity. Purchasing and inventory control people automatically gives their attention to those items which are required only when are needed. Positive control can easily be handled to maintain the inventory investment at the desired level only by calculating the predetermined maximum and minimum values. Disadvantages: Sometimes, the orders are placed at the irregular time periods which may not be convenient to the producers or the suppliers of the materials. The items cannot be grouped and ordered at a time since the reorder points occur irregularly. If there is a case when the order placement time is very high, there would be two to three orders pending with the supplier each time and there is likelihood that he may supply all orders at a time. EOQ may give an order quantity which is much lower than the supplier minimum and there is always a probability that the order placement level for a material has been reached but not noticed in which case a stock out may occur. The system assumes stable usage and definite lead time. When these change significantly, a new order quantity and a new order point should be fixed, which is quite cumbersome. FIXED ORDER PERIOD SYSTEM In this system, the stock position of each material of a product is checked at regular intervals of time period. When the stock level of a given product is not sufficient to sustain the operation of production until the next scheduled tested, an order is placed destroying the supply. The frequency of reviews varies from organization to organization. It also varies among products within the same organization, depending upon the importance of the product, predetermined production schedules, market conditions and so forth. The order quantities vary for different materials. Every order quantity in their method is obtained by the following formula. Advantages: The ordering and inventory costs are low. The ordering cost is considerably reduced though follow up work for each delivery may be necessary. The suppliers will also offer attractive discounts as sales are guaranteed. The system works well for those products which exhibit an irregular or seasonal usage and whose purchases must be planned in advance on the basis of sales estimates. Dis advantages: The periodic testing system tends to peak the purchasing work around the review dates. The system demands the establishment of rather inflexible order quantities in the interest of administrative efficiency. It compels a periodic review of all items; this itself makes the system somewhat inefficient. Distinction between Q system and P system Point of difference Q system P system Initiation of order Stock on hand reaches to reorder point Based on fixed review period and not stock level Period of order Any time when stock level reaches to reorder point Only after the predetermined period Record keeping Continuously each time a withdrawal or addition is made Only at the review period Order quantity Constant the same quantity ordered each time Quantity of order varies each time order is placed Size of inventory less than the P system Larger than the Q system Time to maintain Higher due to perpetual record keeping Less than due to only at the review period Examples Fixed order quantity system A painter can order 200 gallons or more for $4.75 per gallon, with all other factors in the computation remaining the same. He must compare the total costs of taking this approach to the total costs under the EOQ. Using the total cost formula, the painter would find TC = PD + HQ/2 + SD/Q = (5 Ãâ€" 3,500) + (3 Ãâ€" 187)/2 + (15 Ãâ€" 3,500)/187 = $18,061 for the EOQ. Ordering the higher quantity and receiving the price discount would yield a total cost of (4.75 Ãâ€" 3,500) + (3 Ãâ€" 200)/2 + (15 Ãâ€" 3,500)/200 = $17,187. In other words, the painter can save $875 per year by taking advantage of the price break and making 17.5 orders per year of 200 units each. Fixed order period system Daily demand for a product is 10 units with a standard deviation of 3 units. The review period is 30 days, and lead time is 14 days. At the moment of the review time, there are 150 units in inventory. For a 98% service level, how many units should be ordered? Solution = 10 units = 3 units T= 30 days L= 14 days z= 2.05 units.

The Moon is Down :: essays research papers

Throughout known history the system of democracy seems to be the most just, the most logical and the fairest of all ruling systems. Its ability to adjust to changing times is only one reason for its perseverance. In John Steinbeck’s The Moon is Down, this durability is displayed through the townspeople led by Mayor Orden, under the oppressive heels of their conquerors.   Ã‚  Ã‚  Ã‚  Ã‚  One of the most obvious examples of democracy’s endurance is the resistance displayed by the townspeople against their invaders. The oppression and invasion of the conquerors arouse, instead of crush, the desire in the defeated for freedom. These people, who have lived with the idea of a free rule of democracy, refuse to be chained down under the oppressive rule of the conquerors. It is for this reason that they strike back at their invaders. As said by Mayor Orden to Colonel Lanser of the aggressors, â€Å" ‘The people don’t like to be conquered, sir, and so they will not be. Free men cannot start a war, but once it is started, they can fight on in defeat. Herd men, followers of a leader, cannot do that, and so it is always the herd men who win battles and the free men who win wars.’ † [pp. 185-186] Thus, it is because of their freedom that people believing in the free rule of democracy do not let down and die when conquered, do not accept their being robbed of their rights, and fight against what is unjustly done to them.   Ã‚  Ã‚  Ã‚  Ã‚  The townspeople fight on again, perhaps with even more resolve, after the execution of Alex Morden, instead of their spirits being crushed, as was the intent. The entire purpose of Alex Morden’s public execution was to dissuade potential upstarts, but the result was the exact opposite of what was desired. The public display only empowered the townspeople’s resolve to fight back. To put it in Mayor Orden’s words, â€Å" ‘Our people are invaded, but I don’t think they’re conquered.’ † [p 139] Consequently, these people refuse to be put down, and, when faced with situations like Alex’s death, are not deterred but continue on with strengthened resolve.   Ã‚  Ã‚  Ã‚  Ã‚  While resistance is one aspect of democracy’s endurance, determination is another powerful ability it has, as it is shown in the Anders boys’ escape to Britain for help. Because of their overwhelming desire for freedom, the townspeople were willing to, and did, try anything possible to rebel against their invaders.

Exposing Truth in Arthur Millers, Death of a Salesman and Henry David Thoreaus, Walden Pond :: Death Salesman essays

Exposing Truth in Arthur Miller's, Death of a Salesman and Henry David Thoreau's, Walden Pond Poor Willy, the reader bemoans, he just couldn't get his act together. Willy Loman, Death of a Salesman's central character, is one of Arthur Miller's most intriguing personalities. He spends the whole play vacillating between two dreams: his idealistic wish for success and worldly gain, and his unconscious desire for a simple life in the country. This internal conflict results in the destruction of this most unheroic of heros. Miller demonstrates the advantages of simplicity over complex and competitive success. In an earlier era, Henry David Thoreau treated this same theme in his opus work Walden, which recounts his life in the woods. The moral of both works is the same -- how we can transcend mere existence and really live -- but they teach this lesson in very different ways: Walden is an experiment in successful living, whereas Death of a Salesman is an example of living a failure. Examining how Thoreau independently viewed life's meaning in a manner synergetic to Miller's illumi nates the truths that Miller presents in his play. In this process Willy's deterioration transforms into the embodiment of Thoreau's warnings. With beautiful mornings, stunning scenery, and revelry in the simple and exotic banalities of life, Walden is an experience in living. Thoreau's purpose for writing Walden is clearly stated: "As I have said, I do not propose to write an ode to dejection, but to brag as lustily as chanticleer in the morning, standing on his roost, if only to wake my neighbors up" (Thoreau 168). Its purpose is to help us to realize what we are missing in our everyday existence, and rise to our potential. Walden provides an ideal for true and simple living that can be juxtaposed against Willy's artificial and common city life. This contrasting pedagogy is immediately apparent in the settings of the books. Both stories occur in New England, yet in drastically different localities. Walden Pond is a sheltered, wooded chunk of paradise where a philosopher can do his business. Willy's Brooklyn, with its growing population, seems to tighten a choke hold on him as his dreams evaporate. When Willy started raisi ng his family, their spacious home and garden was on the edge of a city full of opportunities, yet as his crisis approached he found that his city was crushing him. The gradual change is a reflection of Willy's choices and their effects.

Criticism of Philosophers

There are many great philosophers who have had many great ideas over the centuries. These philosophers have had their ideas passed down to many people through the centuries, decades, and years. Fredric Nietzsche, Rene Decartes, and Socrates are philosophers that many philosophy students study. However, not everybody likes or agrees with these philosophers philosophies. The purpose of this paper is to provide information about the three philosophers’ lives, work, and philosophies. Also, in this paper there will be criticism of each of the philosophers.Let’s begin with a discussion of Socrates. Socrates was a Greek philosopher who taught another Greek philosopher named Plato. Even though Socrates is thought to be a great Greek philosopher, we have none of his writings. Therefore, many Greek scholars are not sure whether what is on the page is what Socrates taught Plato or Plato’s own thoughts. Socrates’ background is interesting, but now let’s talk ab out some of Socrates’ philosophical views. Derek Johnston claims that Socrates thought that there was much good in the world; however he believed that virtue was the ultimate good.Johnston goes on to claim that Socrates firmly believed that no outside source could deprive people of virtue (Johnston, 2006, 11). In short, Socrates was mostly concerned with the branch of philosophy called ethics. Socrates also firmly believed that the quest for knowledge was the most important thing and by obtaining knowledge about things is the only way people become truly virtuous. Johnston also claims that Socrates was also attempting to find the true meaning of ethical words such as â€Å"true†, â€Å"good†, and â€Å"beautiful† using the question and answer method of inquiry.He also held firm that Socrates’ main belief was that knowledge equals virtue which can and is obtained through reason. In fact, Socrates held strongly that any opinion that someone had that wasn’t based on reason should be discarded (Johnston, 2006, 11). Rene Descartes’’ philosophy seemed to be based on doubt and certainty. Decartes began to build his philosophical stance by doubting everything that could be doubted. But, even Decartes believed that there were things that couldn’t be called into question.The things that Decartes believed couldn’t be called into question were his existence and the existence of God. Decartes believed that his existence couldn’t be doubted because he was sitting down thinking about whether or not he existed, among other things. Therefore, he believed that if he doubted things then, he must exist. In other words, Decartes believed he thought therefore he was. He more famously put it as;† I think therefore I am. † The Latin for this saying is Cogito Ergo Sum (Johnston, 2006, 76).This argument is sometimes simply known as Cogito. Decartes also was a rationalist. Rationalists believe that there are things that have to be true and that there are things that have to be false. He also believed in the existence of God. His argument for the existence of God basically says that imperfect beings, which are humans, depend on their existence both beginning and continuing upon a perfect being which is God. In addition, according to Johnston, Decartes believed that minds are separate things from bodies (Johnston, 2006, 77).Both Socrates and Friedrich Nietzsche had a philosophical view that was based on ethics. Nietzsche was big on morality. He wished to locate a materialistic basis for his moral principles. At the beginning of his ethics, he believed that both good and evil were simply ways of illustrating that some actions were good for society and other actions were bad and didn’t benefit society. But, later he thought of good and evil in absolute teams (Johnston, 2006, 142). Nietzsche attacks philosophy from an ethical standpoint; however, he promoted only two sets of ethical values.One ethical value was pride in oneself and ruthlessness and philosophy, music, and poetry. Nietzsche thought there were some good ethical qualities that human beings could achieve however; he believed that all human beings could strive to get the good moral qualities but only a few exceptional human beings could actually get those good moral qualities. According to Johnston, Nietzsche’s noble man will have a cruel will and will sacrifice his fellow men. In addition, his noble man will be both disciplined and cunning in war (Johnston, 2006, 145).Nietzsche’s greatest philosophical view is called the Will to Power. Nietzsche’s Will to Power is the ultimate source of both what is and what will be for human beings. Strong people will be able to get the will to power and weaker people will not be able to get the will to power. According to Johnston, Nietzsche’s will to power allows people’s current moral judgments and values which are the moral judgments and values of society to be washed away forever. Then, and only, then can a new set of pure moral values and judgments emerge (Johnston, 2006, 147).In addition, a hero for Nietzsche is a man who rises above and beyond his fellow humans by the strength and will of his own powers be them physical or mental or both. His hero will never be sorry for his superiority; in fact he should relish and rejoice in it. Compare and Contrast It may seem as if because Socrates, Rene Decartes, and Fredric Nietzsche were born and lived at different times and in different centuries that none of these three philosophers’ philosophical views would have similarities to them. However, there are similarities to these three philosophers’ philosophies.Rest assured that there are differences in these three philosophers’ philosophies, but first let’s focus on the similarities of these three philosophers philosophical viewpoints. Both Socrates and Fredric Nietzsche su bscribe to the school of philosophy called ethics. In fact, according to Johnston, Socrates view of life centered mostly on ethics and ethical concerns (Johnston, 2006, 11). Also, both Socrates and Nietzsche tried to find the real meaning of ethical terms such as good, trust, bad, and beautiful by means of asking questions and getting answers.In fact, Socrates used the question and answer method to inquire into many moral definitions and many moral issues such as justice. Nowhere is this question and answer method of philosophical inquiry more apparent than in Plato’s dialogue called The Republic. In Plato’s dialogue The Republic through Socrates Plato explored both the definition of justice and the concept of justice itself. Plato also talked about what philosophy is and the many types of government that is used to run a state. Plato even talked about what he believed was the best form of government.Both Socrates and Nietzsche believed that there was one thing that wo uld make people virtuous. Socrates believed that possessing knowledge and Nietzsche believed that having the strength of will was the ultimate virtue. In addition, both Socrates and Nietzsche also believed that few people will ever achieve either virtue. These are the only similarities between the three philosophers Descartes, Socrates, and Nietzsche. These three philosophers had more differences between them than similarities. Let’s look at thee differences between them now.

Conventional Shopping vs Online Shopping Essay

On-Line Shopping Vs Traditional Shopping The advent of the Internet has had an impact in our lives in all sorts of ways such as in the manner in which we communicate, flirt, date, and most importantly, how we shop. While even in the recent past the thought of whether some day one would be able to buy an Armani outfit wearing pajamas while looking after the needs of a couple of toddlers would have seemed an outlandish idea, thanks to the increasing sophistication of the technology of the 21st century, practically everything is virtually possible, and shopping from the comfort of one’s home has become a part of most people’s daily lives. When retailing on the web started, sometime in the middle to the late 1990s, it gave rise to the debate which is still ongoing, about online vs. traditional shopping. And even though shopping centres are still being thronged by shoppers, just as they do on the Internet, the question still remains – Whether online shopping will conquer all, or if traditional shopping will survive this increasing onslaught of e-shopping? In order to study this, let’s examine a few pros and cons of online vs. traditional shopping: Advantages of Online Shopping Internet has revolutionized the way we do our Shopping. Because of the numerous Advantages and Benefits of Shopping Online more and more people these days prefer Online Shopping over conventional shopping. Given below are my Top 10 Reasons for Buying Online. 1. Convenience: The convenience of this method of shopping is the best advantage liked by many people. Where else can one do shopping even a midnight wearing his/her night suit? one do not have to wait in a line or wait till the shop assistant is ready to help him/her with purchases. One can do shopping in minutes even if one is busy apart from saving time and avoiding crowds. Online shops give us the opportunity to shop 24 x 7 and also reward us with a ‘no pollution’ shopping. There is no better place to buy information products like e-books. Immediately after the payment is made one can download the information. And downloadable items purchased online eliminate the need for any kind of material goods at all. 2. Better Prices: Another thing which fascinates most customers is the cheap deals and better prices they get from online stores because products come to them direct from the manufacturer or seller without middlemen involved. Many online shops offer discount coupon s and rebates. Apart from this, the Online Store is only required to collect sales tax if they have a physical location in our state even if we buy from a store across the world. 3. Variety: The choices one can get for products are amazing. Read more: Essay About  Advantages and Disadvantages of Online Shopping One can get several brands and products from different sellers at one place. You can get in on the latest international trends without spending money on airfare. When you shop online, you can shop from retailers in other parts of the country or even the world without being limited by geographic area. These stores offer a far greater selection of colors and sizes than you will find locally. Apart from that, How many times have it happened that you spend your money reaching a local shop only to find that the product you need is out of stock? Some online shops have a provision to accept orders without stock and ship it across to you when the stock becomes available. You also have the option of taking your business to another online store where the product is available. 4. Send Gifts: Online Shopping makes sending gifts to relatives and friends easy, no matter where ever they stay. Now there is no need of making distance an excuse for not sending a gift on occasions like Birthday, Weddin g Anniversary, Marriage, Valentine’s Day, Mother’s Day etc. 5. Fewer Expenses: Many times when we opt for conventional shopping we tend to spend a lot more than the required shopping expenses on things like eating out, traveling, impulsive shopping etc. 6. Comparison of Prices: Online shops make comparison and research of products and prices possible. Online stores also give you the ability to share information and reviews with other shoppers who have firsthand experience with a product or retailer. 7. Crowds: Many customers would like to avoid the crowds when they do the shopping. Especially during Festivals and Special events the crowds can really give a headache. Crowds force us to do a hurried shopping most of the time. Crowds also create a problem when it comes to finding a parking place nearby where you want to shop and going back to your vehicle later loaded with shopping bags. 8. Compulsive Shopping: Many times when we go out on Shopping we end up buying things which we do not require because of the shop keepers up selling skills. Sometimes we even compromise on our choices because of the lack of choices in those shops. 9. Buying Old or unused Stuff at low prices: Online Shops make it possible for us to buy old or unused stuff at rock bottom prices. If we want to buy antiques there is no better options than online stores. 10. Discreet Purchases: Some things are better done in privacy. Online shops are also best for discreet purchases like adult toys, sexy lingerie and so on. Online Shops enable me to purchase under garments and lingerie without the embarrassment that there are several people watching me and my choices. Disadvantages of online shopping The craze of online shopping has picked up quite significantly in the last decade and online sellers are expected to improve their share of purchases for years to come. There is no doubt that one can find great deals online and so many different brands which may not be even available in regular stores, even shopping malls. Despite of all the hype, there are certain disadvantages of online shopping. 1. One Do Not Physically See The Items: Normally when we shop from a regular store, we can see the item and at least visually inspect that it looks fine. You can select a color, size and can even speak to a sales person to clarify doubts regarding an item. The biggest disadvantage of online shopping is we do not physically see the item till it arrives. May be you have seen it in the nearby mall but there is a possibility that the particular piece you have ordered may be defective. Misinterpretation or misunderstanding of items bought online is a common problem. Usually the photo of items y ou see online are much better than once you have the item in front of you 2. Wait For The Items To Arrive: Once one place you order the waiting game starts. One has to wait for a few days for the item to arrive which can be quite frustrating. Most experts believe that we are most excited about your â€Å"buy† in the first few days, so by the time your item arrives you will most likely be less excited then getting the item on same day you made the payment 3. Chances Of Mishandling While Shipping / Delivery Risks: What if the item you are expecting never arrives, you will be lost in a series of phone calls to the seller and the courier company. What if you are not at home during the time of delivery and the courier company leaves the package on your door and a passerby decides to steal it? What if the shipping company broke your stuff and you realize it after opening it when the courier man has already gone away. The seller might claim that you broke it. 4. Shipping Charges: Only a few sites offer free shipping, some others will ship for free only if your total purchase price exceeds a certain amount. Shipping fee is often a big dis couragement for online shoppers. 5. Returning Merchandise: Even if the seller agrees to take back the defective merchandise, you often have to pay the cost of shipping it back. Additionally you have to call and convince the people regarding the reason of your return. Some good sites do have excellent return policy, but not everyone. 6. Online Security: Making payments online is usually safe but not always. There may be sites which are not secure or do not encrypt your personal credit card data, so if a hacker breaks in their system, your personal data can be compromised. 7. Risk Of Online Fraud: Some people pretend selling items at a very cheap price and often send you a low quality, opened or refurbished item, in other cases the site may shut down unexpectedly, leaving lot of customers who might have already paid for the item but did not receive anything. Shopping online can also take you to phishing sites which want to defraud you. 8. Timezone Difference: In countries like USA there are various time zones and the customer service hours of the online shopping site may be different from your time zone, making it difficult for you to get in touch with a human when you need help. 9. Sales Tax: Although an online shopping site may not charge you a sales tax during the purchase, you are legally obliged to pay taxes when you file annual taxes (assuming you live in a taxable state). Most people are able to get by, but in case of a scrutiny not paying sales tax on online purchases may become an issue. 10. A Dull Shopping Experience: Many customers enjoy going to a mall or just the nearby bazaar and enjoy the ambiance and feel more social among other people. Online shopping can be boring for many and make you feel like a loner. 11. Restocking Fee: Most online stores have a restocking fee, specially on electronic items. Items that you buy in a store, can be opened within the store in front of an associate after purchase, and if there is an obvious defect you can return/exchange it without paying a restocking fee which is usually between 10 to 20 percent. 12. Spyware On Your Computer: Having a virus or a spyware is not the sellers fault but there is a risk of your personal data / credit card information, to be stolen right from your own computer. 13. Knowledge Of Operating A Computer: Older people in particular are not comfortable operating computer and they will never purchase online because of the same reason. 14. Deal Hunting Can Be Frustrating: It is common that the price of items are different on different sites. Some people find excitement in finding good deals online while others hate to check various sites to find the best price. Also online shopping can often become addictive. 15. Online Connectivity Issues: You add items in your online shopping cart, enter your credit card information and press â€Å"submit†. What if the confirmation screen times out due to connectivity issues. You do not know if the order went through correctly or not. Many people refresh the screen and little do they know that it may cause double billing / double ordering. 16. One Cannot Buy Low Priced Or Perishable Items On The Web: Small items like pencil, eraser, socks, water bottles etc.. are low priced items and shipping them will likely double the cost. You will always have to depend on regular stores for them. Similarly items like milk, fruits and vegetables are perishable items and cannot be ordered online. 17. One Cannot Buy Items That He/She Need ‘Right Now’: Disadvantage of online shopping includes inability of getting items in your possession quickly. Most good internet sites have taken adequate measures to overcome most of these disadvantages. An intelligent online shopper knows a lot more than a novice. Both regular stores and online shopping have advantages and disadvantages of their own. However, traditional shopping does have certain plus points. Immediate gratification that local brick and mortar shops provide is still liked by many people. If you want something right away, just now, getting it from a retail store is the only option. Seeing and touching a product is also an important factor for many people when they buy things. For example, most people would not buy a piece of expensive jewellery only on the basis of a picture on a website. The chances are slim for the Internet to capture a share of the market of industries which are more suitable for traditional shopping. While consumers can carry out research online for high priced items like properties and cars, people usually want to see the piece of real estate or visit a car showroom and test drive a car before finalizing a deal. A traditional retailer bestows the personalized human contact which is not available on the Internet. Besides, for many people shopping is a source of entertainment, almost a social rite. People like to handle things, especially clothes, feel the texture, and try them on to see how they look in them. For Our Study We took * Myntra was established by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena in February 2007. Myntra’s headquarter is in Bangalore, with regional offices in New Delhi, Mumbai and Chennai. * In 2010, the company shifted its strategy to becoming a B2C (business to customer) oriented firm, expanding its catalogue to fashion and lifestyle products. * Myntra.com is ranked among the top 10 e-commerce companies in India . In the last 3 years, Myntra has become the most popular destination for personalized products in the country. * Products :- * Men, Women, Kids Clothing * It Has About 20,000+ Styles, 350+ Brands and Counting! * It has the largest collection of the latest fashion and lifestyle products in India! * Myntra has tied up with top fashion and lifestyle brands in india, such as nike, reebok, puma, adidas, asics, lee, lotto, decathlon, fifa, john miller, indigo nation etc. * To offer a wide range of current season merchandise from these brands. Myntra currently offers products from more than 200 indian and international brands. These include shoes for running, tennis, football, basketball and fitness, along with casual footwear from world-renowned industry leaders like * There are also casual and dressy footwear for women from catwalk, carlton london and red tape to name a few. * Capabilities * Order processing and delivery: myntra attempts to order and ship every order within 24 hrs.it offers free shipping within india on all products it can ship internationally to all major countries. * Technological: myntra maintains its website which provides the only means by which a customer can make a purchase. * To maintain, upgrade and improve the website and the user experience, myntra employees many computer science engineers and experienced professionals. * Marketing: * Myntra has successfully used social networking websites facebook and twitter to expand its customer base. * Myntra positions itself as a fashionable new age brand. It launches major marketing campaigns every year. In february 2012, myntra rolled out an ooh (out of home) campaign across 2 cities to build brand awareness and promote online shopping. * Myntra has used mostly viral marketing and internet for its popularity coupled with occasional discounts and referral discounts. It can be given a rating of 3/5. * Revenue Model Myntra.com is an aggregator of many brands. Its business model is based on procuring current season merchandise from various brands and making them available on the portal at the same time as in respective retail brand outlets. All these products are offered to customers on mrp. It is a business to customer (b to c) revenue model. * Competitive Advantage * Competitive advantage in any e-commerce business can be due to a cost leadership or product differentiation or both. * In the case of Myntra the competitive advantage is mostly due to cost leadership * In special cases it also enjoys competitive advantage due to product differentiation. In case of IPL t- shirts the buyer can get his/her name imprinted on it. Also Myntra’s business model up till 2009 was of customized t-shirts and mugs etc which allowed it to have product differentiation. Recommendations When buying from online stores make sure to check out the following. * Does the online store value your privacy and confidentiality? Is their privacy policy available to read if you want to see it? * How long have they been in business? Are they reputed in business with great reviews from customers? * Does the online store have a way to contact them? * If you’re unhappy with your purchase, do they have a refund policy? If one take care of the above, Online shopping can be a very rewarding experience. Conclusion We think online shopping is great. We have grown an increase interest in doing most of our shopping online because of its convenience, no rush, and because you view everything in one place. The internet is can be shopping mall! However we think that there are items where traditional shopping has an edge over the online shopping. For example- while buying furniture like sofa, the feel of the sofa is very important. In traditional shopping one can come to the store and sit on the sofas to see if they like them or not. Many people are pickier than others and seeing the furniture online may seem like a good idea to them at first, but then they receive it and it’s a big disaster. Now, add the frustration of exchange/returns on a sofa you’re not happy with spells bigger disaster! we think that’s the only drawback. Other than that, online shopping is fun, convenient way to shop. Our only advice is be safe, be smart and make sure buying is done from a reputable website.

Marriott Cost of Capital Essay

Our objective was to find the hurdle rates for Marriott’s three divisions and for the firm as a whole. Marriott should find the hurdle rates for its divisions separately because its divisions operate in separate industries and therefore face different business risks. Marriott’s vice president says that increasing the hurdle rate by 1% would decrease the present value of project inflows by 1%. Since finding appropriate hurdle rates is critical to accepting or rejecting projects, Marriott should be precise by calculating and using division-specific rates on division-specific projects. We used the WACC method so that our hurdle rates would reflect appropriate cost of debt and cost of equity, as explained in our subsequent analysis. We found Marriott’s hurdle rates: 8.646% for hotels, 10.94% for restaurants, 11.094% for contracts, and 9.688% for the entire company. Marriott should use the division-specific hurdle rates when evaluating division-specific projects. Using the overall WACC to evaluate a project in the restaurant industry, for example, could cause Marriott to incorrectly accept a project, which would destroy wealth. Our analysis also led us to evaluate Marriott’s four financial growth objectives. First, we found that by managing instead of owning hotel assets, Marriott was able to hedge its risks in the currently volatile economy. Second, we were concerned that Marriott’s strategy of maximizing shareholder wealth by treating its projects like â€Å"similar little boxes† instead of using division-specific hurdle rates would decrease shareholder value.

Language Essay Essay

The importance of language Language is an important tool to have because it allows individuals to write, speak, and communicate their thoughts, and gives a unique diversity to each individual, and provides individuals with their own identity. There are multiple forms of language, and with language, the process of hearing language, speaking language, and learning language is easier. Language is the most efficient way of communicating your thoughts, and without language, everyday activities become much harder. We use language to let others know how we feel, what we need, and to ask questions about certain things. People rely heavily on language which most people take for granted. Language rises like a spring among the mountains, and learning to speak language properly and how it was meant to be spoken can increase your vocabulary substantially. An example from â€Å"Teaching New Worlds/ New Words† where Bell Hooks explained how white Americans haven’t yet acknowledged diverse language, and how language is being taken advantage of. Over the years, language has deteriorated greatly, because of people becoming more and more lazy and using shortened versions of words. Different forms of Language come and go like time spent through an hourglass, people often forget different forms of language that aren’t heavily promoted. In â€Å"Teaching New Worlds/New Words† Bell Hooks explained how black vernacular was dying off and being replaced by standard English. Language can be very confusing and difficult to understand, and is constantly changing. In â€Å"Politics and the English Language† George Orwell explained that how overtime politics has greatly influenced the English language in a negative way and filled it with euphemisms, â€Å"Modern English, especially written English, is full of bad habits which spread by imitation.† This quote explains that the English language has become monstrous because people are imitating the language they see, which may not be good language.

Cannes Film Festival and A.k.a Mr. Bean

A. K. A Mr. Bean Youth nowadays focuses on gathering information about some popular celebrities and among those , Bean is the most searched one. This man needs no introduction; rather a smile surprisingly appears on one’s face after a glimpse of him comes in anyone’s mind. The actor behind this hilarious series is Rowan Atkinson  and this person is the writer of a major part of the same Surprised!! , you better be, because it’s the truth. Bean seldom murmurs and the mainly physical humor is educed from his interactions with other people and his astonishing solutions to the situations. Teddy is kind of Mr. Bean’s life partner. The teddy is dark brown, affixed abnormally button eyes and sausage-shaped limbs. Despite of the fact that the teddy is defunct, Mr. Bean pretends it to be alive. Buying him a Christmas present or trying not to wake it in the mornings are some examples of the same. Now talking about Mr. Bean’s car, it was a British Leyland  Mini  1000 of applejack green color. The locking system of the car was immensely innovative and how Mr. Bean parks his car was noticeable. The famous chair incident was a running joke throughout the series. Apart from the television and an animated cartoon series, a couple of movies were also adapted, namely â€Å"Bean: The Ultimate Disaster Movie† in 1997 and â€Å"Mr. Beans Holiday† in 2007. The film follows Bean on a crucial journey across  France  for a holiday which after a number of hardships ends up in a screening of his video diary at the  Cannes Film Festival. Various questions are still unanswered about Rowan Atkinson  death. Hope he is alive and will again make the world rolling on the floor†¦laughing!!

Geology and the Environment Research Paper Example | Topics and Well Written Essays - 1000 words

Geology and the Environment - Research Paper Example The paper outlines the perspective of using solar power as the future source of energy, compared to coal-mining industry. As the world gets bigger, as economies get larger, as the human population increases, the demand for energy also amplifies. Everyone wants the maximum amount of energy that can be produced; over the centuries, man has found numerous ways to bring power into their lives, ranging from combustion of fossil fuels, to wind power. This essay will compare and contrast two of these possible energy sources, coal with solar energy, and attempt to find out which source produces energy in the most effective and desirable way. Solar power is more environmental friendly as compared to power released from coal, in terms of the physical effects it has on the environment. As mentioned earlier, solar power is generated using only radiation from the sun; we receive sunlight every single day on earth, and solar panels only have to capture this radiation and convert it into power to u se. Generating power using coal, however, requires coal to be dug out from the ground. There are several ways of extracting coal from the ground, including strip mining, surface mining, open pit mining, mountain top removal. These types of mining inflict tremendous amount of damage to the environment since they involve the complete destruction of all trees, mountains, rivers, anything that is in the vicinity of the coal mine. Mining for coal can also lead to the pollution of the air and water bodies near the coal mine. (Shah, 2011); toxic materials from the mining process can get washed away into rivers or lakes that are near the mining site ("Coal," page 8). Also, the removal of trees can lead to increased chances of landslides and subsidence ("Coal," page 4). All in all, the process of extracting coal leaves behind a barren, ugly landscape, whereas solar power is generated in a way that does not harm the physical environment. Solar power also means no more grid systems (Whitburn, no date). Solar power can be generated using solar panels that are attached onto the roofs of houses, there is no need to be connected to electrical grids to receive power. This feature of solar power is particularly useful to the people living in isolated areas far away from electrical grid, since it means they no longer have to face the problem of "frequent power-cuts," and expensive electricity, (Whitburn, no date). Indeed, this "transmission infrastructure," is the  "major culprit  behind skyrocketing electricity prices"; also, reliance on off-grid solar power means that the 7 - 10%  line loss  that occurs as power is being transmitted along the power lines, can be avoided, (Land use: Solar Power Vs. Coal Fired Electricity Generation, 2010). Energy produced by coal however, does require the support of grid systems to transfer it to people. How do people working in the coal mining and solar

Al Qaeda Research Paper Example | Topics and Well Written Essays - 750 words

Al Qaeda - Research Paper Example Under these criteria are the 5 levels of anti-US sentiments, and 5 capability indicators. These are built into an analytical framework which consists of 3 parts. The 1st is the scale of intent and capability relationship. Second is the qualitative description of the scale of intent and capability. Third are the 10 levels of thresholds within intent and capability. Using the 'Indicators of Terrorist Group Intentions' in the evaluation of the manual retrieved by law enforcement officers in a suspected Al-Qaeda apartment in the United Kingdom the table below shows: Al Qaeda is a highly capable group and has demonstrated any anti-U.S. sentiment. Al Qaeda would be categorized as a "2." The 2 value was assigned because the manual states the members of the organization will be accompanied by the other members of the country for that operation. Al Qaeda also targets building especially with in line with the economics. Their operations were local and international because of their access in the communication process which was stated in the manual. Al Qaeda was categorized also as a "4." The 4 value was assigned because the manual states the building constructions, choice of exact locations for the target and headquarter for the operation, and etc. Using the 'Indicators of Terrorist Group Capabilities' in the eva... Capabilities in a Changing World; Publisher: RAND (Cragin and Daly, 2004) Using the 'Indicators of Terrorist Group Intentions' in the evaluation of the manual retrieved by law enforcement officers in a suspected Al-Qaeda apartment in the United Kingdom the table below shows: Threshold of Anti-U.S. Sentiment for the Al-Qaeda manual Numerical Value Association with another terror group that seeks to target U.S. citizens and Institutions 2 Targeting U.S. citizens and/or property to pursue a local agenda 4 Al Qaeda is a highly capable group and has demonstrated any anti-U.S. sentiment. Al Qaeda would be categorized as a "2." The 2 value was assigned because the manual states the members of the organization will be accompanied by the other members of the country for that operation. Al Qaeda also targets building especially with in line with the economics. Their operations were local and international because of their access in the communication process which was stated in the manual.Al Qaeda was categorized also as a "4." The 4 value was assigned because the manual states the building constructions, choice of exact locations for the target and headquarter for the operation, and etc. Using the 'Indicators of Terrorist Group Capabilities' in the evaluation of the manual retrieved by law enforcement officers in a suspected Al-Qaeda apartment in the United Kingdom, the table below show: Thresholds of Demonstrated and Perceived Attack Skills Numerical Value Successfully coordinate multiple attacks 5 Al Qaeda was categorized as a "5." The 5 indicator of terrorist group capability was assigned because the manual states the formal line up of all the perfect operation for every instance. The commander to members of the

According to the article and answer the question Assignment

According to the article and answer the question - Assignment Example The behaviors suggest that orangutans are intelligent species with different personality and mentality compared to chimpanzees and gorillas. Orangutans of different groups are found to have different behaviors and practices than each other. The existence of culture in animal species, as a result, is evident keeping the findings of the article in view. The way of hunting, extracting insects with sticks, making pillow of twigs or wiping faces with leaves as with a napkin are different behaviors found in different groups. The conclusion, as a result, is the confirmation of culture’s existence among Orangutans. The close association of such behaviors is found in human cultures. The different behaviors are important to understand the personality of red-haired apes from others. Furthermore, the way orangutans teach their behaviors to their young ones show the level of responsibility they take to nurture their breed and to extend their cultural norms ahead. These behaviors are significant to show the existence of culture in animals, and specifically in orangutans. 2.Drugs: Angiosperms plants are known to have a bitter taste and contain high amounts of psychoactive agents. Since Dinosaurs could not identify the bitterness and detoxify the substances with their less effective levers, they died after having a lot of angiosperms. 1. Sex: The claim is proposed as a negation to high temperatures being the reason for killing the gigantic animals, dinosaurs. However, to support the theory that rising temperatures remained the cause of their extinction, Cowles proposed the idea of testes being non-functional in such high temperature leading to natural contraception and, at extreme, the extinction of dinosaurs. The hypothesis, hence, is a mere idea which is not supported or backed up with proper evidences or experiments thereof. 2.

How do the concepts of networks and the network society contribute to Essay

How do the concepts of networks and the network society contribute to the understanding of the contemporary media landscape Ill - Essay Example In the modern 21st century, we find that this field of information and communication is undergoing a series of changes, arising from various technological innovations, and forming a new setting for the access, subject matter, formatting, and interactive sessions, adding a new dimension to the socio-political world (Huntington, 1997). Under such conditions, various social movements, and revolutionary politics are able to interpose with greater force and in lesser time, within this new interactive space, leading to the convergence of the horizontal communication networks and mass media. This has led to an unparalleled shift in history, where the public sphere is fast moving away from the realms of various institutions, to this new space that mainly comprises of mass self-communication, and communication networking, through the Internet and the wireless networking modes (Klinenberg, 2007). This article will examine this new age communication space, and will study to find out how the con cept of networks and network society, contribute to the overall understanding of the contemporary media landscape. ... , Jan van Dijk first coined the term ‘network society’  in his book De Netwerkmaatschappij   (van Dijk, 2005), and was later used by Manuel Castells in 1996. Castells analyses this new concept of ‘network society’ and conceptualised that such societies formed owing to certain factors: The creation of the innovative Information and Communication Technology (ICT), and the formation of global computer networks that helped in the global integration. The lowering of communication costs as in transnational transports, making it possible for the global migration to take place. The breakdown of the Berlin wall and the subsequent rise in global capitalism; The rise of various new forms of social movements like the human rights, civil rights, women’s rights, environmental rights, etc., (Castells, and Gustavo, 2005). In an interview, Castells defined the term network society as â€Å"a society where the key social structures and activities are organized aro und electronically processed information networks...It's about social networks which process and manage information and are using micro-electronic based technologies" (History; Institute of International Studies, UC Berkeley, 2001). Castells further adds that technology is not the only aspect that defines modern societies, but other factors like economy, culture, and politics also form the framework of network societies, while religion and social status, help in shaping these societies. A network that collectively forms the societies, are actually series of links between basic unitary social elements, known as the nodes. When a single link between two unitary elements is established, the formation of a ‘relationship’ takes place, and many such relationships form a complex web, known as network societies. Van Dijk in

The Literature of Exile and Imaginary Homelands Essay

The Literature of Exile and Imaginary Homelands - Essay Example This dissertation traces the movement of this dialectic between people and places and draws from that movement conclusions about the political and ethical stance of the novels' authors. Chapter 1 introduces the study and the novels, in an attempt to find the places where the three novelists' concerns intersect or diverge. In Chapter 2, I look at Salman Rushdie's The Satanic Verses and Midnight's Children, novels that create a fantastical and magical landscape against which post-colonial questions and problems are addressed. My study elucidates the cultural codes at work in these novels and reveals that the singularity and stability of these cultural codes are eventually denied. Chapter 3 focuses on Jasmine and The Holder of the World by Bharati Mukherjee and investigates the characters' perspectives of their own exile; Mukherjee's characters suggest that individuals can ethically engage with the world despite the alienation of the post-colonial condition. V. S.

HR Research Paper Example | Topics and Well Written Essays - 1250 words

HR - Research Paper Example Diversity in the workplace mainly encircles people from diverse cultural backgrounds, language, gender, age, ethnicity, sexual orientation, religious belief and other values. Diversity is also reflected when people belong to variety of educational fields, work experiences, personality, socio-economic context, marital status etc. At the same time it can’t be denied that a diverse team includes people from different backgrounds and mindsets, which create differences among the members of the team. Therefore for a manager it’s necessary to organize, manage and lead the diverse team and motivate the team members to work towards achieving a common objective. With the advancement and modernization of technology, diversity is a growing need to all teams in an organization so as to facilitate proper understanding and communication in team work, superior contribution, accomplishment of the underlying objective, and withstand in the competitive market. Diversity in a team may ofte n lead to conflicts, i.e. when people from different culture and experience work together, a conflict is often found to arise between them as their thoughts and perceptions differ. Conflict in diverse team may arise due to miscommunication and incompatibility in information, diversified social category, and diversified values which affects their performed tasks and their delegated authorities. In this context we can discuss the advantages and disadvantage of group work and individual work. Teamwork is beneficial as information sharing in a group paves the way for a wide range of ideas and thoughts to come up. It is unlikely for innovative ideas to come out as a result of two-sided communication between the decision-maker and the individual worker. Idea sharing in a group of equal level people can arouse exceptional ways of thinking. An employee may perceive an issue from an entirely unusual perspective than their coworker. This way of thinking can introduce changes in the process of carrying out performance, in policy creation, and in developing a product. Additionally, each employee’s understanding is negligible in a sense that it is not possible for an employee to make right decisions every time which becomes easier when they perform in a group (Werner & De Simone, 2012). Although the term â€Å"Diversity† covers a wide range of factors, the first and foremost to be considered while discussing diversity is the culture of the organization. In general â€Å"culture can be defined as a set of shared values, beliefs, norms and artifacts that are used to interpret the environment and as a guide for all kinds of behavior† (Werner & De Simone, 2012). A few cultural attributes are migratory status, geographic origin, language, race, religion, community and neighborhood, food preference etc. Thus organizations form a subset of the sociopolitical culture at large. A multicultural organization consists mainly of 6 key features namely pluralism, str uctural incorporation, complete amalgamation of unofficial networks, elimination of discrimination and prejudice, equivalent recognition of organizational objectives with all the diverse teams and nominal amount of inter-team conflicts. In a multicultural organization it is essential on the part of the manager to maintain a balance between his employees since culture could become a sensitive factor which might influence the performance of the staff. For example, â€Å"

Work-Related Communication Problem in Corporate Communication Essay

Work-Related Communication Problem in Corporate Communication - Essay Example Signals of this prolific growth have been evident since 2003, which has resulted in a constant drive by retailers to introduce new delivery mechanisms to broaden customer reach (Diamond and Pinter, 2004). As such, this has seen a shifting approach in multi-channel retail strategy from bricks and mortar to multi-level formats including home shopping and mobile commerce (Levy and Weitz, 2008). With increasing and improving technology, various steps are taken for the improvement of communication because businesses run on the basis of good communication skills. For understanding the problems of communication, individual performance is very important to understand. Various assessment tools and theories-based on human nature provide perspectives in understanding individual performance in the workplace. To this end, the consideration of the social exchange theory and social penetration theory highlight the underlying motivation in social relationships. It is further submitted in the corporate context that a comprehensive understanding of the social exchange theory and social penetration theory are key organizational development going forward. The corporate communication is very significant for the development and establishment of businesses all over the world. The communication problems such as work-related communication problems are very crucial as they affect the organization negatively if handled carelessly. Leading sociologist George Caspar Homans is usually hailed as the central consolidator of Social Exchange Theory works in his work â€Å"Social Behaviour as Exchange† (1958). In general terms, the social exchange theory posits that social change and stability is a process of negotiated exchanges between parties (Homans, 1958).  

Slide animation Essay Example for Free

Slide animation Essay Successful presenting entails focusing on important points, controlling the flow of information, and holding the audience’s interest in the presentation. We can include two types of animation — within a slide and from slide to slide. Animation on a slide, often called builds, determines how and when objects on the slide appear. Animation from slide to slide, called transitions, specifies how a new slide appears after the previous slide disappears. The last version of the PowerPoint includes powerful animation effects and features. Animation can certainly enliven a presentation, but too much animation will distract the audience from the main message. All professionals make the same point about animation — pick one or two effects and stick to them. This principle applies to both animation on a slide and transitions between slides. Animating objects has an additional purpose — to focus the audience’s attention on what one is saying. To animate a slide, one needs to know what he is going to say while that slide is displayed — and in what order. He then uses that order to determine the order in which the objects appear on the slide. Object animation is sometimes called a build because the objects build up on the screen, one after another. One can control the following aspects of the animation: †¢ How the object appears. †¢ In what grouping the object appears. For example, text most often appears paragraph by paragraph but can appear by the word or even by the letter. †¢ Whether the animation occurs when one clicks the mouse or automatically after a preset number of seconds. †¢ Whether a sound plays during the animation. †¢ What happens, if anything, after the animation. For example, one can change the color of a previously displayed object when the next object appears or hide it completely. For a quick solution, PowerPoint offers animation schemes — a complete group of settings that one can quickly assign to a slide or presentation. Animation schemes apply only to slide titles and text placeholders. To animate other objects the custom animation is used. Several animation schemes also include slide transitions. When one animates placeholder text, all the text in the placeholder is considered one object. However, it is automatically animated paragraph by paragraph — that is, bullet by bullet, which is usually what is wanted. To animate by word or even letter, the custom animation is used too. For more control over animation, than the animation schemes proposed one need to create own settings. New features of custom animation include attaching more than one animation type to an object, animating an object along a path, and animating an object when another object is clicked. The number of the animation options that are included is vast. One can also animate objects such as AutoShapes and text boxes. Because these objects often serve to draw attention anyway, adding animation to them only increases the effect. One can animate WordArt text too. Another type of animation controls how each new slide appears. Because these effects control the transition from one slide to another, they are called transitions. While some of these effects have the same names as animations, they look quite different when applied to an entire slide. Transitions, like slide animation, has to be used with reserve. Many options are available, but that doesn’t mean that one should use them all in one presentation. One of the best solutions is to choose a simple transition and apply it to every slide in the presentation. If the presentation is divided into sections, one could use a second transition to introduce each new section.

Briefly Describe The Term Operation Management Information Technology Essay

Briefly Describe The Term Operation Management Information Technology Essay Chapter 1: 1. Briefly describe the term operation management. The observation operations management relates to the management of methods or processes that produce goods or provide services. These procedures require planning, coordination, and execution of all actions that produce goods and services. It is also been described as the maintenance, control, and improvement of organizational activities that are required to produce goods or services for consumers. For the most part, Operation management has traditionally been associated with manufacturing activities; however, it can also be applied to the service sector. The measurement and evaluation of operations are usually undertaken through a process of business appraisal. Efficiency and effectiveness may be monitored by the application of ISO 9001 quality systems, or total quality management techniques (William, 2009, p. 4). 2. Identify the three major functional areas of business organizations and briefly describe how they interrelate. The three primary functions are operations, finance, and marketing. Operations are concerned with the creation of goods and services. This is done by making best use of the businesss staff, machinery, building and raw materials. Marketing is concerned with promoting and/or selling goods or services. They do this by maximize the level of sales by carrying out market research and promoting the goods or service through a motivated sales team. Finance is concerned with the provision of funds necessary for operation, have the task of producing the goods or service in the most efficient way. They do this by keeping a record of all money coming in and going out of the business. Last, they have responsibility for securing finances for future expansion and paying staff and suppliers (William, 2009, p. 4). 11. Why might some workers prefer not to work in a lean production environment? For the most part, workers do not like to work in a lean production environment because there are fewer opportunities for an employee to advancement within the company. Pursuant to a leaner production line, more workers become stress due to higher levels of responsibility. This is a result of fewer managers. Moreover, Workers also experiences larger variability and expansion of job requirements. This is where a worker is required to do more with less. Such cases of companies within the American auto industry have become lean to reduce cost and waste. Last, such cuts backs have allow the U.S. auto industry a second chance to be more competitive with other companies (William, 2009, p. 29). Chapter 2 6. Contrast the terms strategies and tactics. Strategy is the fundamental approach used by a company to attain its goal where tactics are the actions taken to accomplish strategies to carry out operations. The importance of strategies cannot be overemphasized an organizations strategies have a great impact on what the organization does to achieve its organizational goals. Strategies can be long-term, intermediate, or short term. In order to be effective, strategies ought to be designed to support the organizations mission and its goals. In contrast, tactics are the methods and actions used to accomplish strategies. They are more specific than strategies, and they provide guidance and direction for carrying out operations, high need detailed plans and decision making in an organization. Last, most consider tactics as the how to part of the process and operations as the execution part of the process (William, 2009, p. 43). 8. Explain the term time based strategies and give three examples. Time-based strategies are approaches that focus on lowering the time required to conduct the different activities in a procedure. The logic is that by curtailing the time, costs are generally smaller, productivity is larger, quality is improved, new products appear on the marketplace much earlier, and customer service is enhanced. Last, organizations have achieved time reduction in some of the following: Planning time: The time needed to react to a competitive threat, to develop strategies and select tactics, to approve proposed changes to facilities, to adopt new technologies, and so on. Product/service design time: The time needed to develop and market new or redesigned products or services. Processing time: The time needed to produce goods or provide services. This can involve scheduling, repairing equipment, methods used, inventories, quality, training, and the like. Changeover time: The time needed to change from producing one type of product or service to another. This may involve new equipment settings and attachments, different methods, equipment, schedules, or materials. Delivery time: The time needed to fill orders. Response time for complaints: These might be customer complaints about the quality, timing of deliveries, and incorrect shipments. These might also be complaints from employees about working conditions (e.g., safety, lighting, heat or cold), equipment problems, or quality problems (William, 2009, p. 51). 10. List some factors that can affect productivity and some ways that productivity can be improved. The factors that can affect productivity are methods, capital, quality, technology, and management. The various ways productivity can be improved. For instance, since, productivity measures all operations it helps to eliminate bottlenecks. Another improvement would be to solicit new ideas from workers that reduce unnecessary waste. Sometimes the formation of work teams helps a firm to be organized with their activities. A further improvement is the study other firms. From this, a firm can reexamine its work methods where it cans reestablishment new goals for improvement. Other features also include support from management, rewards, and publicize improvements, and lastly, it is significant not to confuse productivity with efficiency because productivity to an organization as a theory is concededly broader than efficiency (William, 2009, p. 59). William, S. J. (2009). Operations Management. New York: McGraw-Hill. page 35-36. Chapter 2: 6, 8,and 10,   page 61. These are due by Monday in the Discussion Board. Please have your responses to the questions submitted to the Discussion Board by DAY 5 Monday. This will give everyone the opportunity to discuss them before the end of Seminar 1. 2. Chapter 2 Case Study Paper Read the Case Study Home Style Cookies, found in Chapter 2, page 64-65. 2. What are two ways that the company has increased productive qty? Why did increasing the length of the ovens result in a faster output rate? The use of automation in the mixing process resulted in a reduction in waste; cookies are cut on a diagonal; and the company recently increased the length of its ovens (i.e., more cookies can be baked at the same time). 3. Do you think that the company is making the right decision by not automating the packing of cookies? Explain your reasoning. What obligation does a company have to its employees in a situation such as this? What obligation does it have to the community? Is the size of the town a factor? Would it make a difference if the company was located in a large city? Is the size of the company a factor? What if it was a much larger company? All companies have a moral obligation to their employees. Small companies with local owners, particularly in a small community, are more likely to be influenced by such considerations than large companies, in large communities, even with local owners, and even less likely to be influenced if owners are distant, or uninvolved in operations. The issue is a difficult one, often without easy solutions. Cost and efficiency may favor layoffs, but ill will and the effects on morale of employees that remain are important considerations. 6. What advantages and what limitations stem from the companys not using preservatives in cookies? By not using preservatives, the product probably appeals to health-conscious buyers, and there are fewer ingredients to purchase, store, and mix, but without preservatives, the shelf life is limited. 7. Briefly describe the companys strategy. The companys strategy is to provide a high quality (good food) cookie that appeal to a particular market niche. Then, respond to questions 2, 3, 6, and 7. Be sure to answer each of the questions posed (even if there are questions within questions).   Please send this  case study  via  the Assignments Link.   This assignment is due on Day 6 Tuesday. 3. Weekly Summary Please submit your Weekly Lessons Learned via the Assignments Link. Due no sooner than Tuesday and no later than Wednesday. NOTE:  ALL Weekly Lessons Learned (Weekly Summary) for Weeks 1 -6 must adhere to the following: Summarize what you have learned from the text reading, class discussions, assignments, etc.  You can even include (in addition to the aforementioned) how what you have learned each week has or can help you professionally.  Therefore, it should not be merely a listing of topics covered each week in your textbook.  Also, this assignment should be a minimum of 200 words. PARTICIPATION: Please submit at least 2 meaningful comments per day to the discussion board (for at least 5 of the 7 days of the week) to receive full participation points. ItemWeek 1 Discussion Questions Discussion Questions: Please respond to the Discussion Questions: Chapter 1: 1, 2, and 11, page 35-36. Chapter 2: 6, 8,and 10,   page 61. These are due by Monday in the Discussion Board. Please have your responses to the questions submitted to the Discussion Board by DAY 5 Monday. This will give everyone the opportunity to discuss them before the end of Seminar 1. >> View/Complete Assignment: Week 1 Discussion Questions ItemWeek 1 Case Study Paper Chapter 2 Case Study Read the Case Study Home Style Cookies, found in Chapter 2, page 64-65. Then, respond to questions 2, 3, 6, and 7. Be sure to answer each of the questions posed (even if there are questions within questions).   Please send this  case study  via  the Assignments Link.   This assignment is due on Day 6 Tuesday. >> View/Complete Assignment: Week 1 Case Study Paper ItemWeek 1 Lessons Learned Weekly Summary Please submit your Weekly Lessons Learned via the Assignments Link. Due no sooner than Tuesday and no later than Wednesday. >> View/Complete Assignment: Week 1 Lessons Learned ItemWeek 1 Particiption Please do not post anything here.   I will post your points earned for participation this week.   Please refer to the course Syllabus for information on how participation points are earned.