Coca-Cola Versus Pepsi-Cola Essay

Summary In the late 1800s, American pharmacists started mixing fruit syrups and carbonated soda water, causing a new kind of beverages known as soda drinks. The most famous brands that started in the business are Coca-Cola, Pepsi-Cola, and Dr. Pepper; but the big long-lasting rivalry is until today between Coca-Cola and Pepsi-Cola. In 1886, a pharmacist named Dr. John Pemberton made the formula of Coca-Cola and the drink was sold in at the counter of Jacob’s Pharmacy as a refreshing drink. Pemberton was a part owner of the pharmacy after he left, eventually, Asa Candler became the sole owner and had the rights to the drink. Candler sold the Coca-Cola syrup to pharmacies and started a big advertising campaign which gave Candler a strong sales force. In 1899 Candler granted the first bottling franchise, which eventually grew rapidly. Ernest Woodruff bought Coca-Cola in 1919 for 25$ million, Woodruff and his son worked on making Coke a convenient product that’s available everywhere. Woodruff made a great decision at the time of the beginning of World War II; he stated that every man wearing a uniform should get a Coca-Cola bottle for only 5 cents whatever it costs. This decision made Coke have a strong market-share in Asian and European countries; in the late 1950’s, Coca-Cola advertised as â €Å"Americans Preferred Taste†. Woodruff was influential in Coke’s strategic decisions until 1982. A pharmacist named Caleb Bradham invented the formula of Pepsi-Cola in 1893 in New Bern, South Carolina in 1893. Pepsi followed a similar path as Coke in the expansion, using franchisers to spread their beverage. The company faced bankruptcy many times due to the strong advantage that Coke had over Pepsi-Cola and the weak competition between the two companies at that time. In the period following WWII, Coke outsold Pepsi by a 10 to 1 ratio per unit; in that period many soft-drink producers started entering the market with a big variety of flavors other than cola flavor. Alfred Steele became Pepsi’s CEO in 1950, he believed that his company will take over Coke one day, Steele was a former Coca-Cola marketing executive, and he helped Pepsi a lot due to his wide knowledge about the rival which is Coca-Cola. In an effort to raise the company’s sales, Pepsi introduced new bottle sizes such as the 24-oz family bottle. 1955 Steele married an actress named Joan Crawford and sta rted a big advertising campaign; Alfred Steel’s motto was â€Å"beat coke† which led to increasing Pepsi revenues to over 300% between years 1950 and 1959. Through the years many soft drink companies joined the industry, but the difference is that these companies focused on tastes other than colas, such as 7UP which is a mix of citric flavors and soda, 7UP was first introduced in 1929; the introduction of 7UP led to an increase in the national market share. Coca-Cola continued to expand in the 1960s making Coke available internationally and in the United States. Coca-Cola started diversifying when it bought Minute Maid Juice Company; Cola-Cola also produced new products such as Sprite. Coca-Cola offered its soft drinks either in cans or glass bottles in 1961. Throughout the years in the 1960s and 1970s, Coca-Cola introduced different new products such as Sprite, Tab, Mr.Pibb, Fresca, and Mellow Yellow. Coca-Cola concentrated on international markets to spread the drinks, this strategy of spreading Coca-Cola internationally had matured the company and made the brand image much stronger than Pepsi. Donald Kendall, a former sales manager became Pepsi CEO in 1963, under Kendall Pepsi was renamed PepsiCo and started an unrelated diversification by opening restaurants such as Pizza Hut and producing snacks. Pepsi extended its line of products in 1964 by introducing Diet Pepsi and Mountain Dew; Mountain Dew has a similar taste to Sprite with was introduced by Coca-Cola. Pepsi tried to keep track with Coke in order to keep the competition even though Coca-Cola was more powerful than PepsiCo at that time. Pepsi became more aggressive and competition hungry in 1970 and 1971 when they employed experienced marketing executives. In the 1950s and 1960s the price of Pepsi was 20% less than the price of Coke, but still wasn’t able to reach Coke’s strength; with the strong advertising campaigns thanks to the experienced executives that Pepsi recruited, Pepsi was able to gain a stronger market-share for the first time in 1975. In 1974, Pepsi was the third largest-selling soft drink after Coke and Dr. Pepper. Researchers from Pepsi have shown that in a blind test the majority of consumers preferred Pepsi over Coke. This successful experiment which was called â€Å"The Pepsi Challenge† increased Pepsi’s market share and made it the number-two brand. After the great success that this challenge brought to Pepsi, Victor Bonomo, president of Pepsi USA in 1974, decided that the Pepsi challenge should be deployed I all market where Pepsi is weak. The spread of the Pepsi challenge led to an increase in Pepsi sales by 20% in the biggest cities of America. Pepsi launched the Challenge all over the nation in 1977, and after 3 years Pepsi brand was widely recognized in the U.S. and gave Pepsi an additional 1.3% market share lead over the rival Coca-Cola. Coca-Cola responded to the challenge by giving big discounts in certain markets where Coke has a competitive advantage over Pepsi and by stating that Coke’s bottlers are owned by Coca-Cola, but Pepsi bottlers are franchisees. Knowing that Coke and Pepsi is a standardized product, Coca-Cola used price as a market weapon to target Pepsi consumers. Coke tried to regain money lost that was a result of the huge discounts that the company kept on introducing, by selling franchisees the concentrate rather than the syrup they use in manufacturing the drinks. Roberto Goizueta became CEO of Coca-Cola in 1980, he introduced a 1200-word strategy statement, and the main aim of this statement is price discounting in order to regain Coke’s position in the market. Coca-Cola began to influence the ownership and management of the of their franchised bottlers, despite being committed to independent bottlers, they replaced bottlers in key markets that were not deemed sufficiently aggressive in selling their product. The CEO of Coca-Cola USA stated that the company had some role to play in the reasons the buyers purchase the product by offering in several instances to increase the numbers of their investments with the potential buyers. 2) Contribution The â€Å"Coca-Cola Versus Pepsi-Cola† case study was written to give the maximum amount of information to business-oriented individuals, it gave so much information about two of the most competitive companies throughout history; the paper illustrated the history of the two main soft drink companies and also talked about other companies that entered the industry. The irony is Pepsi and Coca-Cola were invented by pharmacists who are supposed to prescribe drugs to people and not give them beverages with high amounts of sugar and artificial tastes, the case explained how Pepsi and Coke changed people’s views of a beverage when the companies invented carbonated soda beverages. The paper explained in details the huge cola advertising war that started in the 1980s between the rival Coca-Cola and PepsiCo that caused a big revolution in the beverage industry and incentivized new companies to enter the industry and produce beverages with different flavors. The case explained the positioning of the two companies and showed the difference in the brand value of the companies. The case was great also in giving the comparative analysis between the two companies, giving the different products other than the main product that was first manufactured by the companies. The case also showed us how the companies implemented different strategies to increase revenues and to increase market share and gain the most competitive advantage. Pepsi vs. Coca-Cola SWOT analysis Strength: *Pepsi: Very Innovative, the broad portfolio of products, more flexible franchise network, aggressive marketing strategy. *Coca-Cola: One of the most valuable brands in the world, largest market share in the soft drink industry, and great customer loyalty Weakness: *Pepsi: Competition with Coke, higher prices than Coke, and lower net profit margin than Coca-Cola *Coca-Cola: Competition with Pepsi, relies on soft drinks, and lacks diversification Opportunities: *Pepsi: International expansion and growth in the bottled water industry *Coca-Cola: Reduce costs and increased demand for bottled water Threats: *Pepsi: Increased marketing campaigns by Coke and restrictions to sell in certain countries because Coke has control on them *Coca-Cola: Strong local brands in some countries and negative publicity Michael Porter’s 5 Forces on Pepsi and Coca-Cola Knowing that Pepsi and Coca-Cola have standardized products, I won’t need to talk about every company alone. The intensity of Rivalry between Competitors: Pepsi and Coke are historical competitors, in the 1980s; the rivalry between them was very ferocious, and the cola war occurred at that period of time to show which companies’ products taste better. Bargaining Power of Suppliers: Suppliers have no power over Pepsi or Coca-Cola, it is very easy and cheap to buy all the ingredients to manufacture soft drinks, in fact, the competition between Pepsi and Coca-Cola’s suppliers is really strong because of the great and presence of all the material. In my opinion, Pepsi and Coca-Cola have power over their suppliers; this helps them in decreasing their costs a lot. Bargaining Power of Buyers: The power of buyers in the case of Coca-Cola and Pepsi is high, because the switching cost is low or even the same depending on the geographical segment; both companies try their best to gain customer loyalty, but Coke does it better by playing on its customers’ emotions in its advertisements. The threat of New Entrants: This force is low, the soft drink industry is very competitive if a possible new product enters the market, and it would be really expensive and hard to position in the very strong industry. Threat of Substitutes: This force is high, especially because of health trends that hit the community from time to time, bottled water and juice companies are working hard in order to gain a competitive advantage over Pepsi and Coke by showing consumers the bad effects and obesity that this soda beverage can cause to our health, this is causing a change Pepsi and Coca-Cola’s strategies and making them introduce diet beverages as mentioned in the case, or even causing the Pepsi and Coca-Cola to buy big companies that produce healthy beverages; as an example, Pepsi bought Aquafina in order to have an advantage over the competitor.

August Rush Themes Essay

â€Å"Music is all around; all you have to do is listen.† Quoted Evan Taylor in the ending scene of August Rush. August Rush was a boy who discovered the power of music in his journey to find his parents. His giftedness was a useful tool in his accomplishments, that can be seen throughout the movie. His giftedness did not guarantee success in that he would need the right resources, motivation, and a little hardwork obtain it. To begin with, giftedness can’t guarantee success, if the right resources are not available. Resources allow you to recognize your giftedness, so without them your giftedness is not recognized, and therefore, success is not obtainable. Resources are the key to success. The boys home that Evan Taylor lived in, before his removal, did not offer the resources for him to channel his giftedness. In August Rush, Evan Taylor was given many resources, after his removal from the boys’ home, in which he ended up in a church with a piano, a theatre full of street kid performers, and facing the opportunity to take classes at Julliard. The classes at Julliard enabled him to obtain the ability to compose a piece inspired by all the sounds he has heard and believes will lead him to his parents. At Julliard, August’s talent was truly acknowledged and set free, but it was first discovered when he encountered the street kids. With all these resources he was able to embrace his gift and share it with the world. The resources that he acquired on his journey prompted his growth in his naturally gifted music abilities. Secondly, guaranteed success from giftedness, I believe requires motivation. A person who seems to be naturally gifted cannot be guaranteed success, if they do not want success. A person who is naturally gifted and is motivated will achieve success because they want success. August Rush had motivation, so therefore he achieved success in the movie. His motivation was to find his parents, from whom he was disconnected 11 years ago, and that motivation enabled him to achieve his success. Motivation is a vital factor in all acts of achieving success. A lack of motivation also infers a lack of encourage and a lack of want for success. People who are not motivated do not normally achieve success. The road to success requires motivation to continue the journey. August’s motivation and longing to find his parents is what kept him going throughout the movie. Movitation is much needed is any other factor in achieving success. Lastly, giftedness is not automatically offer guaranteed success, but success does automatically offer guaranteed hard work. In my opinion, success cannot be achieved with only giftedness, it has to also be accompanied by hard work, motivation, and resources. Giftedness does not allow you to be lazy and achieve success that others, who are not gifted, work their hardest to obtain. Success does not come God-given, along with your God-given abilities. Even gifted people have to work towards success as those who have not been gifted. Being gifted allows you to understand concepts and learn new things faster than others, but does not guarantee you success. Success does not work in this way. Success can never be guaranteed if you are not willing to put in the hard work and effort for the long-haul. In conclusion, success is not automatically guaranteed through giftedness. Do not let your imagination run wild that giftedness is the free ticket to success because it most definitely is not. All success requires a little effort. Anything can be achieved with the right resources and a little hard work and motivation.

Patrick Suskind- Perfume Essay

Reflective Statement: Perfume Perfume by Patrick Sà ¼skind, exposed me to a series of literary texts, themes and ideas. It also opened me to a variety of cultural developments that happened throughout the book.  Through the interactive oral I gained a better understanding of the historical context and Parisian lifestyle. When reading I had superficial knowledge and I never really analyzed the periodical moment that the book was set in. The presentation helped me broaden my understanding of the French lifestyle by explaining the streets of Paris and the lack of sanitation. I now understand the importance of where Grenouille was born and the significance it holds; but then I also found myself astonished of the extreme conditions humans could endure and call everyday life. The fact that the author chose to set the book in that time period, where Paris was at its filthiest, and decided that the main character shall be born with the gift of scent. This fact gave me an interpretation of the author’s choice in location. It was also through this interactive oral that I got a stronger grasp of the connections between Grenouille and the other gifted abominables that were mentioned in the beginning of the novel. When initially reading the book, I lost the real connections of the characters. It was through the interactive  oral that I made the vital connections between Grenouille and Marquis de Sade and the others that were mention as well. These historical figures were also known for their terrible acts against humanity. As the group described each of them, I was thoroughly interested because I was surprised by some of the horrific things some of them had done. I was most engrossed by the Marquis de Sade; he’s personality and lifestyle as repulsive as it was, interested me a lot and I realized I got the same reaction from him, as I did from Grenouille. I became aware of Sà ¼skind’s directive with such connections. It further strengthens my opinion on how Sà ¼skind antagonized Grenouille from the beginning; because of the comparisons to the horrific figures from history. This interactive oral gave me a simple but direct understanding of the cultural context, by explaining 18th century Paris. I appreciate Sà ¼skind choice of location and including those historical figures, as foreshadowing. Overall I reached an improved understanding of Perfume. [Word Count: 400] Stolen Innocence: The Exploration of the elements of innocence from the fallen victims of Grenouille as he begins and ends his quest for the ultimate scent in Perfume: The story of a murder The roles of minor characters are gravely important to the development of a story. Their character, their actions and what they symbolize lead the protagonist to different points of the beginning or to the conclusion of their journeys. This is clearly shown in Perfume by Patrick Sà ¼skind, as the protagonist Jean-Baptiste Grenouille is led on killing spree in search for a certain element for his ultimate scent; the minor characters aid him as the catalyst and conclusion of his quest. The plum girl of the dark Parisian streets unknowingly awakened Grenouille’s desire for what he perceived to be the ultimate scent. Her role as a minor character was to be the catalyst of Grenouille’s journey, her scent captured him and led him to the discovery that a scent like that was conceivable. She was a fleeting character, barely in the book but her presence and representation brought on the whole premise to Grenouille’s voyage. Sà ¼skind never gives the reader a direct characterization of the plum girl but it is  through her scent that he creates a personality that the reader is supposed to unravel; when he describes her scent we get an indirect form of characterization of her character â€Å"Her sweat smelled as fresh as the sea breeze, the tallow of her hair as sweet as nut oil, her genitals were as fragrant as the bouquet of water lilies, her skin as apricot blossoms†¦ and the harmony of all these components yielded a perfume so rich, so balan ced, so magical†¦Ã¢â‚¬  (pg. 41). Linking her scent to her personality we are obliged to believe she was a girl of adoration, because of the description of her scent. The comparisons of her fragrance are all things that one would find beautiful. â€Å"†¦ the scent was not much stronger. It was only purer, and in its augmented purity, it took on an even greater power of attraction. Grenouille walked with no will of his own.† (pg. 40). Everybody admires beauty and it’s through this that Sà ¼skind admits that even Grenouille is unable to resist beauty; fore this beauty was in the scent. Sà ¼skind’s diction further allows the reader to entwine the beauty and associate the plum girl with innocence; despite the little context the readers are given. â€Å"†¦ like a piece of thin, shimmering silk†¦ and yet again not like silk, but like pastry soaked in honey-sweet milk- and try as he would he couldn’t fit those two together: milk and silk!† (pg. 40). The comparison of her scent with milk brings back Jeanne Bussie’s thoughts of the smells of a baby, the link between their milky scent and their innocence. The author’s choice to link the plum girl with those simple forms of innocence shows how she is one of the representations of purity. The plum girl was the catalyst to Grenouille’s quest as it was through her that he gained the incentive to further his knowledge and vision to capture scent. During this time, the enlightenment was at its stronghold, as new scientific experiments took place, and as it took on the form of individuality; where man was fighting for their rights. The people of the enlightenment began to drift apart from the social norms of that time and began to associate themselves as their own being. This was something Grenouille soon realized he lacked as he came to terms that he had no essence to call his own. The thing that in his perspective made everyone who they were, was what was absent from him. As Grenouille is led on his journey to capture his intrinsic scent, as he embarks on his killing spree; Sà ¼skind leads the  reader to believe that Grenouille is seeking a certain element for his perfume. After his first kill every girl that followed next was in one way or another, a form of innocence. From the girl of the rose fields who was â€Å"young, so very young†, to the young Italian girls of the migrants, the Sardinian washer-woman, and th e carpenter’s daughter; they all shared something apart from their youth. â€Å"†¦the college of medicine examine the bodies of the shorn beauties to determine the state of their virginity. It was found that they had all remained untouched† (pg.197). All the girls were virgins. Virgins are a universal symbol for purity and innocence, the point that Grenouille was attracted to their scents further incites the feeling that he in fact was trying to extract what they had and that was their sense of purity. It strongly suggests that Grenouille was seeking the element of innocence for his perfume. Sà ¼skind shows the reader that Grenouille has an exact plan and process; ones that correspond to the enlightenment. As he journeys we discover different aspects to Grenouille’s nature that resemble aspects of the enlightenment. We see this through his methods and his overall perspective throughout the novel; as the enlightenment was entirely about experimentation, the individual rights of man and finding oneself. Sà ¼skind perhaps proposes that through the quest as he seeks the ingredients for his ultimate perfume Grenouille is also creating a recipe for himself. Grenouille’s whole being responds to the views of the enlightenment as he is searches for self-awareness through science and experimentation. Where the plum girl represents the beginning of his quest, it is only through Laure that he concludes the journey. Her role as a minor character was to be a physical representation of Grenouille’s end goal, to conclude his quest. She was the depiction of the ultimate innocence and it was shown all about her, through her appearance, her age and her scent; â€Å"She barely had the rudimentary start of breasts†¦ In a word: the girl was still a child† (pg. 170-171). Sà ¼skind clearly illustrates that Laure was a girl of admiration and beauty; this allows us to make the connections of Grenouille’s craving with one associated with himself. Grenouille’s goal was to be someone that overwhelmed people, someone who could bewitch people; just like he predicted Laure would. She too like the other girls had something that Grenouille wanted, that element of innocence he required for his perfume. As she was the end goal, the others girls were different components to his depiction of  innocence, and Laure was the absolute scent. She was his epiphany, and she completed his composition. â€Å"In a year or two this scent will be ripened and take on a gravity that no one, man or woman, will be able to escape. People will be overwhelmed, disarmed, helpless before the magic of this girl†¦Ã¢â‚¬  (pg. 171). Only through Laure would he be able to achieve what she could achieve by just being, and only through her and collecting her scent did Grenouille finally come to self-realization, it’s only after he had completed his quest did he come to gather the â€Å"worthlessness† to this earth. He had completed what he wanted and only then did he come to terms that there was nothing else in this world that he would want. He had overwhelmed people, disarmed them, and bewitched them. It simply was not enough. Her character was the physical embodiment for his masterpiece that he would call his scent. The minor characters are the basis structures that aid the main character in any journey he or she sets of to accomplish; they symbolize different aspects of the theme that the book tries to convey. All the girls were symbols of innocence in one form or another, different ingredients for the ultimate scent. The roles of these girls were to create the hunt for Grenouille, as the plum girl began his quest and Laure brought it to an end. It was only through the quest and these minor characters did he create his recipe for himself and came to self-realization. It was through the quest that Sà ¼skind allows the reader to believe that Grenouille was the epic depiction of the enlightenment as a whole. [Word Count: 1316] Work Cited Sà ¼skind, Patrick. Perfume: The Story of a Murderer. Trans. John E. Woods. New York: Vintage, 1986. Print. ere different components to his depiction of innocence and the end goal, the others were merely components to the overall

Primary Research Paper Example | Topics and Well Written Essays - 500 words - 1

Primary - Research Paper Example I have strong knowledge of business analytics that I used when I worked on financial audits with the senior auditors of my firm. In particular, I contributed to the development of predictive business analytics that determined new growth opportunities for the company. It resulted to changes in how accountants determined the need for corrective actions and what these actions should be. During this time, I also solved a problem of the company regarding merging several data categories in order to improve data collection and reporting efficiency and accuracy. Moreover, I am particularly interested in working for JPMorgan Chase & Co. because you are a world leader in finding financial services solutions for diverse sectors. When I learned of the solutions you offered for filling up important healthcare and technology jobs in New York City, I became excited of how I can also contribute my business analytics knowledge and skills in conducting similar data studies and providing helpful recomm endation reports. I believe that I have strong analytical, quantitative and problem-solving skills that are essential to being a successful Finance Analyst intern. I am eager to meet with you or to have a phone interview to further discuss this valuable employment opportunity. I am interested in learning more about your consumer and commercial banking services and working with your senior managers to analyze results and offer financial and business insights. You can reach me by phone at 301-526-3669 and by e-mail at xchen114@terpmail.umd.edu, if you want me to provide further information. I will call your office next Monday to see if a mutually convenient time can be arranged. Thank you for your time and consideration of my

Introduction to 'Rent-seeking behavior Assignment

Introduction to 'Rent-seeking behavior - Assignment Example The elderly, for instance, look for higher social security payments. Unluckily, where rights over property are weakened as well as where someone’s ownership of goods or wealth becomes debatable, other individuals could acquire more through attempts to appropriate such wealth than through manufacturing themselves. Such behavior is known as rent seeking (Forbes, 2013). There is no good reason as to why economists use this term â€Å"rent†. It means payments to a production factor in excess of the amount needed to keep the factor within its current use. The word is used to illustrate government lobbying by individuals in order to achieve special privileges. It can be called privilege seeking (Dutton, 2014). Other examples of rent seeking include: the limitation of access to profitable occupations as in modern certifications as well as licensures. Taxi licensing happens to be referenced as a rent seeking instance. Licenses issuing limits the overall tax services supply (instead of making sure of equality or competence) threatening rivalry in livery vehicles, illegal taxes or unregulated taxes causes the taxi service transactions a compulsory transfer of a fraction of the payment from consumers to operators of taxi business. The rent seeking concept may as well apply to bureaucrats’ corruption in their splitting as well as extracting rent/bribe for their application of legal, however, optional for awarding the illegitimate or legitimate benefits to their clients. Tax officials may happen to receive bribes for having reduced tax payers’ tax burden for instance (Dutton, 2014). It has been well known that individuals lobby the government for some privileges. The insight of Tullock was that privilege lobbying expenditures are high and they dissipate gains to the recipients and lead to inefficiency. For instance, a firm that deals with steel

The Undetected Occurrence of PTSD in Soldiers Assignment

The Undetected Occurrence of PTSD in Soldiers - Assignment Example Since soldiers are prone to exposure to various traumatic experiences in their endeavours, these traumatic events may lead to the occurrence of PTSD amongst the soldiers. Thus, this creates a need for the detection and prevention of PTSD, especially among soldiers. There exist a number of strategic interventions with regard to the occurrence of PTSD in the society (Bryant, Creamer and O’Donnell, 2009; Foa, Keane, Friedman and Cohen, 2009; Forbes, Creamer and Bisson, 2010; Sones, Thorp and Raskind, 2011; Ursano, Bell and Eth, 2004). These potential intervention measures can be divided into three. Psychological interventions offer a wide variety of intervention methods for adults with respect to the occurrence of PTSD (Gray, Maguen and Litz, 2004; Hoge, Worthington and Nagurney, 2012; Jakupcak, Roberts, Martell, Mulick, Michael and Reed, 2006; Ruzek, Brymer and Jacobs, 2007; Wood, Murphy and McLay, 2009). Thus, some of the psychological intervention methods with regard to the prevention and treatment of PTSD include psychological first aid (PFA); cognitive therapies and exposure-based therapies among other interventions. Since the occurrence of PTSD can also be attributed to biological pathways, there exist various pharmacological intervention methods (Holbrook, Galarneau and Dye, 2010; Matar, Cohen and Kaplan, 2006; McCleery and Harvey, 2004; Schelling, Roozendaal and De, 2004; Stein, Kerridge and Dimsdale, 2007). This is owed to the fact that such debriefing interventions would be geared towards providing the necessary information concerning the occurrence of PTSD amongst the soldiers (Barboza, 2005). The interventions would also create a platform for the affected soldiers to share the traumatic experiences with other concerned parties (Schnurr and Green, 2004). This would significantly contribute to the reduction of the stigmatization associated with the  occurrence of PTSD among soldiers.This implies that CISD and CISM provide a suitable intervention platform for individuals who may be affected indirectly by traumatic events such as soldiers.  

Effectiveness of Senior Team Member and In-Depth Knowledge of the Essay

Effectiveness of Senior Team Member and In-Depth Knowledge of the Subject - Essay Example As it has been aforementioned that my role as a senior team member is very notable and important for the success of an entire team, in the same manner, the role and functions of other team members also play a crucial role in this regard. As a senior team member, I should be able to understand the potential, proficiencies, and skills of my team members so that I can effectively place them in the right order and can assign them the right duty and task which fits them the most. Furthermore, I should respect other team members and should expect the same from them. As a team, it is our foremost responsibility to understand that every individual and his role are equally important and that no one is assigned with an easy job or has been favored. Furthermore, I also need to check that all members of the team are performing their duties well and are following all the ethical and legal guidelines of prescribing, selling, and administration. It should be noted that prescribing someone is a serious and important issue. Although only authorized professionals are allowed to prescribe medicines, it is important that as a senior team member I should keep a check and balance on the procedures. A daily, weekly and monthly evaluation of the prescribing practices should be incorporated in the routine tasks as well as auditing and monitoring these practices. This will allow fewer chances of error and will ensure an effective and steady process of prescribing and other tasks. The presence of a code of ethics and conduct is made by the Ethics committee of â€Å"The British Psychological Society† (Cowden & Pullen-Sansfacon, 2014). They provide an insight to the educational, professional roles of Psychologists but they are not merely specific rules for psychologists but they are associated with certain principles that provide guidance on when to fulfill the demand of the patients and when it would be feasible to say no to them.

Sysco BI Case Study Example | Topics and Well Written Essays - 1250 words

Sysco BI - Case Study Example At Sysco, the main problem that might arise after the implementation of business intelligence is that the information that is provided is too small of what is actually required by the firm in order to function. Moreover at many times, the user may not at all be requiring the past data as the market is volatile and is subjected to frequent changes. The obstacle can be that Sysco will require more number of users for implementation and there are huge license fees for the set up of the software. Moreover the other difficulty that it will face is that a number of the companies already have small scale intelligence application and Sysco had decentralized IT structure which if the companies try to uninstall would be very time consuming and costly. It will therefore muddle the already existing commercial setting. Why did Sysco decide initially to address only two questions with its new BI software rather than use it as a more general analysis tool? Why did Business Objects recommend this approach? What are the tradeoffs? Answer: Initially only two questions were taken into consideration as both the questions were quite predictive and forward looking. It is also to be noted that one question deals with the products that is to be delivered to the customer and the other question deals with the customers. The answer provided to the question covers all the important aspects like competitors, customer satisfaction, customer services, customer profile that is the key to success for any firm. Moreover it is felt that initially during the implementation phase the company should focus only on the software, users and the training on answering the questions. The answer to the question was good enough to serve the customer in the better way and also it proved how good ‘Business Object’ can be at delivering the best product to Sysco. The various capabilities of Business Intelligence are Dashboards, Extraction, Data mining, Ad hoc querying and reporting,

Business Environment Essay Example | Topics and Well Written Essays - 1750 words - 1

Business Environment - Essay Example The country’s decision regarding the resource allocation represents the economic systems that it practices. Normal economic systems range from market economy to command economy. In a planned or command economy, all the decisions are performed by the government. The role played by the government in such economy is related to the economic decisions, which it formulates by taking advices of the top hierarchical bodies. After the decisions have been finalised, they are enforced upon the bodies presented below the hierarchical level. The production process of any country is usually planned, coordinated and organised by the government. A planned economy involves an intensive deal of strategic planning. It has been further observed that governmental planning of allocation of resources is generally organised in such a manner which facilitates to satisfy the requirements of all the citizens dwelling within a country. The greatest advantage of resource allocation under the vigilance of government is equal distribution of wealth (Palacios & Harischandr, 2008). Free market economy refers to the economic system, wherein decisions are farmed by considering the market mechanism. Demand and supply results frame the vital element of the decisions pertaining to resources allocation. Within the free economy, the government does not interfere in any decision-making process. The advantage of resource allocation in free economy is that the goods are sent to that particular area, where it is in demand. Furthermore, in such economy there exists no requirement for any overriding body to interfere in the decision process (Palacios & Harischandr, 2008). Mixed economy incorporates the characteristics of both the economies discussed above. In such economy, a few of the goods and services are produced by the free-market sector, whereas the other products and services are produced by the government. The balance that exists between the government’s provision and the market econo my provision is equal. Government plays a vital role in the development of mixed economy. Initiatives taken by the government to perk up the industrial development can facilitate to ensure benefit for the dwellers in the economy at large. Moreover, the other crucial benefits of a mixed economy entail the facet of lesser inequality related to the earned income, balanced growth of regions and freedom of possessing private property among others (Palacios & Harischandr, 2008). 2. Assess The Impact Of Higher Taxes On Employees (An Instrument Of Fiscal Policy) And Higher Interest Rate (An Instrument Of Monetary Policy) On The Costs Of Borrowing Of A Business Rise in the taxation rate lays a greater impact on the employees. When tax is charged on a product, it usually increases the rate of it. This excess rate of the product that includes the economic cost is the ‘excess burden’ of the tax. It has been further ascertained that higher rate of taxation usually decreases the grow th along with investment pattern of an individual. Taxes usually disrupt the individuals’

Senior Project - Team Video Analysis Report Essay - 1

Senior Project - Team Video Analysis Report - Essay Example Without clear goals or a financial projection, the ideas are being tossed at the team who is left feeling vulnerable and without direction. 6. Team members do not know how to organize and create strategy. It is clear that the basic tools of strategic management are outside of the knowledge of most of the team. This means that a part of the team is not working up to their potential, decreasing the efficiency with which goals are met. The head of the company is unaware of the steps that were taken to create the success that she has achieved. The problem with this lack of understanding is that she is unable to create a future without having a clear picture of the past. Understanding the importance of the past is the first step in creating a strategic methodology for continuing into the future. Charting how the company was built, all the milestones and the ways in which they were achieved would allow for Elizabeth to create a clearer picture of how her company evolved. Recognizing how she was prepared for opportunities and how she utilized those opportunities would give her a better grasp of her current success. In addition, she needs to look for lost opportunities and how she can be better prepared from them in the future. Once this understanding has been developed, she can move forward to create the business plan that she needs to continue her success. In order to address the problem of a business plan, Elizabeth needs to establish what her company stands for in regard to its mission and goals. This development of a business plan will provide a framework for expansion as new markets are examined for potential benefit. Through a clear statement of who the business and how it operates, she can better establish a strategic plan towards the future. The business plan needs to be built upon the establishment of a mission statement. A mission statement will help to define the business so that it can stay

Anlysis of the Lincoln Electric Company Essay Example | Topics and Well Written Essays - 750 words

Anlysis of the Lincoln Electric Company - Essay Example The availability and prices for raw materials are subject to volatility and are affected by global economic conditions, speculative action, world supply and demand balances, inventory levels, availability of substitute materials, currency exchange rates, anticipated shortages and other factors. Other economic factors include exchange rate fluctuations and limits on the repatriation of monies (The Lincoln Electric Company online). Sociological factors affecting the industry include the absence of trained labor pools as young skilled labor pursue cleaner and safer jobs (Brat, 2006). On the technological front, increasing power ratings and continued improvements in beam quality and processes, such as remote welding, are expected to increase revenues. Advances in solid-state laser technology, including disc lasers and fiber lasers, are expected to foster growth trends (Frost & Sullivan online). In the environmental environment, the industry increasingly faces complicated environmental re gulations including those concerning air and water emissions and waste management. Lastly, factors in the legal environment that could affect the cutting and welding industry are lawsuits pressed by plaintiffs who develop neurological conditions caused by exposure to manganese contained in welding consumables. This industry also faces risk of exposure to product liability claims in the event that accidents or failures on projects result in bodily injury or property damage. Also, this industry is required to comply with a wide variety of conflicting foreign laws and regulations, import and export limitations, and exchange controls (The Lincoln Electric Company online). The intensity of rivalry in the cutting and welding industry is high. Lincoln Electric operates in a highly competitive global environment and competes with other broad line manufacturers and numerous smaller competitors specializing in particular products. Moreover, in the past decade, the United States arc welding industry faced fiercer foreign competition as low cost imports became more readily available. This foreign competition intensifies as the U.S. dollar depreciates in relation to other currencies. Suppliers have high bargaining power. The main raw material used in the cutting and welding industry is steel. Since 2003, the price of steel has increased substantially and there have been periodic shortages due to worldwide economic factors, including increased demand for construction materials in developing nations such as China and India. Customers have high bargaining power. The customers of the cutting and welding industry are the manufacturing and industrial sectors (The Li ncoln Electric Company online). The cutting and welding industry is fragmented and faces a consolidating end-user base. The barriers to entry are high. Rising labor costs and the decrease in the number of skilled welders together with the increased demand for high-precision welding is set to drive the adoption of welding robots. A sizeable capital investment is required to install automated equipment (Frost & Sullivan online). The threat of substitutes is low. Welding is still the dominant method of joining metals today (Lab Safety Supply online; The Lincoln Electric Company online). Lincoln Electric has a culture of innovation, technological leadership, and employee focus, which are also its strengths. Recognized as the "welding experts", Lincoln Electric provides leading technology

Competition Bikes Inc. Storyline Essay Example for Free

Competition Bikes Inc. Storyline Essay To: Vice President The following is a summary report to recommend whether Competition Bikes should change its traditional costing method to activity based costing, and an analysis of the breakeven point with regards to sales units and dollars for both CarbonLite and Titanium bikes. It also discusses the impacts to the breakeven point. The cost-volume-profit evaluation and the traditional vs activity based costing method overhead analysis were used for the review and analysis. Traditional Based Costing vs Activity Based Costing Traditional Based Costing Method (TBC). TBC uses one rate, the overall cost of production, to estimate costs based on the revenue production created. Unlike ABC, manufacturing costs in TBC are only assigned to sold merchandises and do not account for nonmanufacturing costs such as administrative costs. This method is general not as accurate as ABC as it does not account for costs specifics to the level of products. For Competition Bikes, the company can see its manufacturing overhead is $239,020 for the Titanium bikes, and $232,380 for the CarbonLite bikes for a total of $471,400 in overhead costs. This means the unit cost for each is $713 for Titanium bikes, and $1359 for the CarbonLite bikes. Activity Based Costing Method (ABC). ABC determines and allocates cost by activities a company executes. This generally happens in four steps: identify each activity and its associated costs, both total and indirect; estimated cost driver and quantity; allocation computation; and cost allocation to the respective activity. ABC refines the way indirect costs are allocated to production and focuses on the costs of each individual activity. Costs are also further assigned to each product within the activities and each activity has its own cost driver. Because of the  specificity, active based costing provides a more accurate picture of the true costs. Direct material (DM), and direct labor (DL) are the same for each bike in using TBC or ABC. However, in using ABC, the company can break out the manufacturing overhead into factory setups, quality control, engineering services, product movements, utilities and services, and depreciation. The total for each bike using the ABC method is $590,715 for Titanium bikes, and $729,985 for CarbonLite bikes. Although the total is still the same $471,400 in overhead costs, the ABC method allows Competition Bikes to see that the Titanium bikes depreciate much faster than the CarbonLite and that it takes more utilities and services to make those bikes. Factory setups and quality control are much higher for CarbonLite bikes than those for Titanium ones. Per unit, the Titanium Bikes cost $656 each and the CarbonLite bikes cost $1460. Recommendation. It is recommended to use ABC to determine true costs associated with activities and products. This will give the company more knowledge of its finances and spending and in return by seeing a clearer picture of costs, make better decisions on funding and budget, and gain cost savings. Activity based management in Competition Bikes can use ABC to make decisions that increase profits while still meeting customer needs. Understanding where costs are going will help Competition Bikes to remove unnecessary costs and set fair price for the products. Overpricing products causes a lost in market sharing while underpricing products diminishes revenue. Better prices for consumers means more business for the company. With activity based costing, Competition Bikes will be able to determine the optimum sales units required with the sales mix of 9 Titanium bicycles produced for every 5 CarbonLite bicycles that will produce the bikes at San Diego at breakeven. The company will also be able to reevaluate activities on a regular basis to reduce future costs as well. Evaluating activities and setting sales prices are part of value engineering. Currently the company thinks it costs $1359 to make a CarbonLite bike and have set the selling price accordingly. In reality, the bikes cost $1460 to make. With a $101 difference, the company may want to adjust their selling price in future months. Using ABC also allows the company to use the Just in Time (JIT) system. This system allows ensures materials are purchased just in time to produce the products, and products are completed just in time for delivery. JIT uses the demand-pull system to receive the order, schedule production, delivered materials, and finished product delivered to the customer. This lessens the amount of excess parts and inventory saving the company money as well. Breakeven Point This analysis will evaluate the breakeven point for Competition Bikes Inc. Sales units and sales dollars will be identified for the breakeven point. These sales units and dollars will be broken down between CarbonLite and Titanium bikes. The breakeven point is used my companies to prevent loss. The Cost Volume Profit (CVP) is the tool in which to capture the breakeven point. Sometimes it is referred to as the breakeven analysis. The CVP assists the company in identifying future operation need, production costs, and expansion possibilities based on estimating costs, prices, and volumes. This profit response can help Competition Bikes determine the amount of needed sales, what products to manufacture, pricing policies, marketing strategies, and how much profit is actually needed. In this analysis we will assume that the fixed and variable costs remain constant, and that the number of units produced equals the number of units the company sells. CVP is defined by the equation Total Revenues – Total Costs = Profit. The breakeven point is the point in which the CVP equals zero or, Revenues – Expenses = 0. Meaning, the revenues cover all the costs, fixed and variable. Therefore, the CVP can be further broken down into Total Revenue – Total Fixed Costs – Total Variable Costs = Total Profit. The contribution margin is then identified by Total Revenue – Total Variable Costs (leaving out the fixed costs). Contribution Margin is important to identify the differences in each product’s profits. For Competition Bikes, the contribution margin for the Titanium bikes is $900-$679=$221. The  CarbonLite Bikes yield $1495-$1384=$111 each. Using the 450 Titanium bikes and 250 CarbonLite bikes sold, the total combined contribution margin for Competition Bikes is $127,000. That’s broken down like this: Titanium Bikes contribution margin of $221 per unit, 450 units equals $221*450, or $99,450. CarbonLite bikes contribution margin of $111 per unit, 250 units equals $27,750. Contribution margins $99,450 + $27,750 = $127,200 Total Contribution Margin. To determine the profits in more detail, we use the equation (Selling Price (per unit) * Quantity Sold) – (Variable Costs (per unit) * Quantity Sold) – Fixed Expenses = Breakeven Point (Zero). The fixed costs are the units sold * the weighted average contribution margin. The weighted average contribution margin is used to find the breakeven point and is essentially the average of contribution margin amounts per unit. The equation is Total Contribution Margin / Total Quantity Sold. For Competition Bikes, our combined weighted average contribution is $181.71. That’s $127,200/ 700 units sold (450 Titanium and 250 CarbonLite bikes) = $181.71. To establish the breakeven point, we also need to know the combined revenue and costs as well. So we calculate total revenue as the following. Titanium bikes are $900 each and 400 units sold, equals $405,000. The CarbonLite bikes are $1495 each and 250 sold which equals $373,750. Combine the $405,000 + $373,750 = $778,750 Total Combined Revenue. The variable costs for each are Titanium bikes: $679 in costs, 450 sold, which equals $305,550 or $679*450 = $305,550. CarbonLite bikes: $1384 in costs, 250 sold, which equals $346,000, or $1384*250= $346,000. The two together, $305,550 + $346,000 = $651,550 Total Combined Variable Costs. The total combined margin can also be calculated by taking $778,750 subtracting the $651,550 and it equals the same $127,200 Total Combined Margin we calculated earlier. We use this as a check and balance system here. To determine the breakeven units, we look at the fixed costs and weighted average contribution margin discussed earlier. The fixed cost for the company is $400,000. Divided by the weighted average contribution margin  181.71, we get the breakeven units for the product sales mix of 2201. The contribution margin ratio is the percentage of contribution margin to revenue. To find the contribution margin ratio, we divide the total combined margin by the total revenue. This tells us by how much the price per unit exceeds the variable cost per unit. In this scenario, Total Combined Margin $127,000 divided by Total Revenue $778,750 which is .163, or $127,000 / $778,750 = .163 Contribution Margin Ratio. Since the bikes are not equal, we must calculate a product mix in addition to the weighted average. Using the weighted average, we can calculate the breakeven point in a proportionate way using sales units and sales dollars. For sales units, we take the breakeven units for the product sales mix and multiply it by the ratio of units sold divided by the total number of unit sold. So for Titanium, the sales units at the breakeven point is [450 / 700] * 2201, or 1415 units. For CarbonLite, [250 / 700] * 2201 = 786 units. To calculate the sales dollars, we multiply the sales units by the sales price. In this instance, Titanium is 1415 units multiplied by $900 cost for each unit or, 1415 * $900 = $1,276,500. CarbonLite is 786 units multiplied by $1495 price for each unit, or 786 * $1495 = $1,175,070. The combined total sales dollars is $2,451,570 To break even, the profit must be zero. Gains and losses are equal. For Competition Bikes, the breakeven point is 1415, or $1,276,500 in Titanium bikes, and 786 CarbonLite bikes, or $1,175,070. Impacts of the Breakeven Point A2b. Based on an evaluation of cost-volume-profit, Prepare a summary report that describes the impacts to the breakeven point if company management needed to increase the cost of direct materials by 10% cost increase and needed to add $50,000 in fixed costs to the production facility. Company management has asked for a report on the impacts of increasing the  cost of direct materials by 10% and fixed costs by $50,000 in relation to the breakeven point. The contribution margin and weighted average are based in part on direct materials, or variable costs. Raising the costs by 10% is significant and will have a great impact on the company. Total Revenue is $778,750 and variable costs now $681,800. This increase is broken down by variable cost per unit to $709 for Titanium bikes, and $1551 for CarbonLite. The Contribution Margin per unit is now 191 and 44 respectively lowering the total combined contribution margin to $96,950. CarbonLite bikes contribution margin decreased from $111 to $44 per unit, over a 60% decrease. Calculated by dividing the Total Combined Contribution Margin $96,950 by the Total Units of 700, the 138.50 weighted average contribution margin per unit also dropped by 24% from 181.71. This shows how significant a 10% can be to the contribution margin. Ten percent in one area can mean much larger impact in other areas. With an increase in fixed costs to $450,000 that now brings the breakeven units for the product sales mix to 3249. We calculate this by $450,000 fixed costs divided by the lower weighed average contribution margin 138.50. This continues to affect numbers as we calculate sales units and sales dollars. Titanium bikes sales units are 450 units divided by 700 total units, multiplied by the weighted average 3249 for 2089 units. CarbonLite bike sales units are 250 units divided by the 700 total units, multiplied by the weighted average 3249, totaling 1160 sales. Sales dollars are calculated as Titanium bikes 2089 units * $900 = $1,880,100 and CarbonLite bikes as 1160 units * $1495 = $1,734,200 for a total $3,614,300. The breakeven point is now increased. Sales for Titanium bikes is now up to 2089 units, or $1,880,100 and CarbonLite bikes up to 1160 units, or $1,734,200. By raising direct costs 10% and fixed costs 13%, Competition Bikes now has to sell 674 more Titanium bikes, and 374 CarbonLite bikes to break even. That’s a 48% increase. Based on this analysis, it would be in Competition Bikes best interest to try to keep costs low. Variable and fixed costs show that a small increase can significantly impact the company’s breakeven point. Variable costs have a higher impact than fixed costs. Direct costs per unit should be specifically addressed in reducing costs as well as increasing sales.

The Logistics Performance Indicators And Importance Commerce Essay

The Logistics Performance Indicators And Importance Commerce Essay Logistics encompasses a complex set of activities which require a collection of metrics to adequately measure performance. Chow et al. (1994) were probably the first to attempt to define supply chain (logistics) performance and they presented some measures for measuring logistics performance. Since then, most of the literature on logistics performance appears to focus on models and frameworks (Clarke and Gourdin, 1991; Mentzer and Konrad, 1991; Rao and Grenoble, 1991; Hubbard, 1992) and on managing different aspects of logistics (Larson, 1994). Sink and his colleagues have defined seven dimensions in order to capture their conception of what performance means: they are effectiveness, efficiency, quality, productivity, quality of work life, innovation and profitability/budgetability [International Journal of Logistics Management]. Given the lack of any universally definition for performance in the organizational literature, it should not be surprising that extant literature offers many ideas about the dimension that ought to be incorporated into a conceptualization of logistics performance. One of the best examples is the framework presented by Rhea and Shrock, where physical distribution effectiveness is defined as the extent to which distribution programmes satisfy customers [International Journal of Logistics Management, 5, p. 3] While measuring logistics performance, a comprehensive strategy of measurement is necessary for the successful planning, realization and control of the different activities which comprise the business logistics function ( Andersson et al. (1989). As Thor (1994, pp. 13-28) correctly advocates, there should be a whole family of measures. This is a balanced collection of four to six performance measures, usually including productivity, quality and customer satisfaction, which together furnish an all-inclusive view of results but, individually, also provide a diagnostic value. Developing such an approach, Mentzer and Firman (1994) claim that the management and control of logistics performance entails four broad aspects: Information systems to collect and report performance measures Efficient performance measures Variance analysis Corrective action Productivity within the performance scenario can be seen as a measurement of resource utilization, including the time element. The productivity philosophy and its improvement has been a high priority, in the first instance, in manufacturing, then in marketing, and later in physical distribution and materials management. Thus, the time is now ripe to focus on the whole logistics process. It is the shape of the organizations physical manifestations which is largely influenced by the nature of the values, beliefs and underlying assumptions of logistics management (Ericsson (1990, pp. 42-49). Quantitative metrics of supply chain performance can be classified into two broad categories: Non-financial and financial. In fact, in the late 1880s financial measures were mainly focused such as return on investment (Christopher, 1992; Schermerhorn et al.,, 2000). However as the second progressed during 1980s, the world market changed and companies began to lose market share to overseas competitors who were able to provide higher-quality products with lower costs and more diversity. To re- capture the competitive edge, companies not only directed their strategic focus from low-cost production to quality, flexibility and short lead time, as non-financial measures. (Bower Hout, 1988; Rushton Oxley, 1989; Stewart, 1995) Logistics performance measures can be categorized into two categories such as qualitative and quantitative measures. Qualitative measures include such as customer satisfaction and product quality etc., and quantitative measures include such as order-to-delivery lead time, supply chain response time, flexibility, resource utilization, delivery performance, etc. It has been suggested that the critical elements that form the basis of logistics management are time, distance and money. Some utilization, productivity and effectiveness metrics used in the logistics management are: Dimension Metric Example Utilization Actual input/norm input Area of warehouse occupied/ total area Productivity Actual output/actual input Ton-miles delivered/cost incurred No of orders processed/ no of hours of labor Effectiveness Actual output/norm output No of shipment on-time/no of shipment sent Utilization measures: They are used to track the use of input resources in process. In logistics, input could be characterized as financial, physical assets or inventory. Utilization metrics include the following: Spending measures Purchase price variance Distribution cost as percentage of sales Variance of transportation cost from budget Non financial resources measures Usage ratios Amortized costs Inventory measures Static metrics (capture level of inventory expressed in physical, financial or other terms) Flow metrics (capture speed of inventory as it flows through the system over a period of time) productivity measures Partial productivity measures (SFP-single factor productivity ratios ) Total factor productivity measurement Financial productivity measurement (ROI-return on investment )( (Frameworx, 2005) Effectiveness metrics Order fill rates( order filled /orders requested Line item fill rates( total line items not filled / shipped in time per period Damage rates (line items damaged per order) Order cycle time (elapsed time between receiving request and delivering order) Delivery or transit time (elapsed time between readying order for shipment and delivery order)( DfT, 2004) On-time ( orders shipped on time or orders received by customer on time ) Perfect deliveries (orders received by customers with no logistics service fullness) Importance of performance metrics: Implementing performance measures is a key to optimizing the supply chain. That reflects the entire process, rather than the individual components that make up the process. Managers can obtain a better picture of the process by focusing on the entire supply chain, rather than its individual parts. This is vital to emphasize the vital importance of the logistics process to the rest of the company and how logistics can affect the financial stability of the organization as a whole. (Rick J Blasgen, 2007) The effectiveness of supply chain of a company heavily affects its profitability and survival. Surprisingly few companies appear to have effective measures of each business process within the supply chain or information systems which readily produce the data necessary to drive improvement forward. Within the supply chain, logistics are considered to be the link between production/purchasing and marketing. Controlling logistics performance is a major concern for management. This is mainly because of the constantly changing environment and unforeseen events which may affect forecast performance levels. (Anonymous 1997) Three major reasons for measuring logistics performance: Reduce their operating costs Drive their revenue growth Enhance their shareholder value Example: By using the latest logistics performance indicators Dell has successfully become the dominant market player in the personal computer industry. It derives its growth because of mass customization, efficient supply chain management and reduced delivery time. In the era of global supply chains and mass customization, Dell has maintained close linkage of logistics. Dells performance measurement, manufacturing, logistics and shipping and strategies make it possible to customize computers for individual consumers at a low cost. It has successfully implemented low cost strategy through its efficient manufacturing operations, better supply chain management, reduced cycle time and direct sales model. orders are directly taken from its customers; either on phone or online. Thus, this reduces the cost of intermediaries that would otherwise add up to the total cost of PC for the customer. Dell also saves time on processing orders that other companies normally incur in their sales and distribution system by having latest performance measurement tools. Moreover, dell is able to get a clearer indication of market trends by directly dealing with customers. A two-to-three point cost advantage is also obtained by delaying assembly until a customers order is received (King, 2005). Three or four days finished inventory is kept on hand versus 30 to 45 days worth at some competitors. Parts inventory is replenished as often as every 90 minutes. an additional four or five points cost edge is brought by supply chain efficiencies derived from lean inventory management.(William Hoffman, 2005) Conclusion In todays severe competitive market place, product or service differentiation separates the winners from the losers. Mostly, the service differentiation is achieved by managing the logistics process efficiently and effectively. To achieve excellence in logistics, successful firms have to ensure that the firms business strategy is aligned with the key logistics processes and they are measured against predetermined performance objective The approach that a firm takes in establishing logistics measurements system does not matters a lot as the real value come when the information is acted upon to align the effectiveness and efficiency of the logistics process performance to value the customers. The role 3PL can have in your success is dependent on when you start measuring your logistics performance (james S. Keebler and David A. Durtsche 2007).

Paper Reduction And Recycling In Saudi Arabia Environmental Sciences Essay

Paper Reduction And Recycling In Saudi Arabia Environmental Sciences Essay Environmental conservation and pollution reduction are among the imperative global concerns. As a result, global conventions have been held in which countries are required to follow certain environmental regulations. The most popular is the 3R concept: Reduce, re-use and recycle. All these practices are geared towards minimizing use, recovering and reducing energy costs. Moreover, this write up focused on two concepts: Reduction and recycling. It has been reported that in a world perspective, paper recycling has substantially improved since 1986. In Saudi Arabia Kingdom, there are legal frameworks which justify paper reduction and recycling. In addition, most of the recycling and reduction is done by the Saudi Paper Manufacturing Company (SPMC) and its subsidiaries. There have also been established programs for awareness creation such as Recycle Your City and the Green Jeddah kids program. In a nutshell, although Saudi Arabia is not a leading recycler and reducer in paper production, governmental and private efforts have been somewhat effective in the conservation of the Saudi environment through reduction and recycling. Outline Although this discourse is based on the 3R concept, only two of them shall be discussed. These include paper reduction and recycling in the Kingdom of Saudi Arabia. To do this, general information on the subject matter shall be given. Secondly, since any policy has to operate in a legal framework, the regulations justifying environmental conservation through the two practices shall be outlined. Thirdly, the actual practice of reduction and recycling of paper as a mode of waste management shall be discussed. The final parts of the discussion shall focus on the summary, recommendations and conclusion. Definitions There have been global concerns for the reduction in levels of pollution as one of the ways of curbing global warming. The major ways internationally recommended for pollution reduction are reduction, re-use and recycling. This has been referred to as 3R concept. Recycling is a way of waste recovery which reduces costs for raw materials, energy and waste disposal. This is so because paper produced from virgin pulp has great environmental and economic consequences. It recovers some of the primary material and reduces the solid waste present. Before paper is recycled, it is separated into high and low grades such as letterheads and newsprint respectively (Professional Recyclers of Pennsylvania). On the other hand, paper reduction is a category of activities geared towards reducing unnecessary bulk of paper. Some of the activities include the purchase of only needed qualities, reduction in the packaging paper (source reduction), limitation of computer print outs, reduction of the use of papers that are difficult to recycle, use of reusable envelopes for intra-office correspondence and encouraging employees to use the minimum amount of paper. In computer applications, a Microsoft Word page margins may be reduced from 1.25 inches to .075 inches thus saving up to 4.75 percent. According to Dhir, Limbachiya and Newlands (32), reduction is preferred to recycling. Documentation Saudi Arabia is a member of the Gulf Cooperation Council (GCC). In 2005, it was estimated that these countries registered an annual consumption of 3.5 million tones of paper and board (Oxford Business Group 187). In Saudi Arabia itself, the per capita paper and board consumption was 38.6 kg per year. So as to offset the demand, the Saudi Paper Manufacturing Company (SPMC) has always sought to apprehend sufficient market share and effectively compete with the other Gulf companies. However, since the resources such as water and fiber are scarce, the manufacturing companys plans have been centered on recycling and improvement of operational efficiency so as to reduce the quantity of imported pulp. The then CEO of SPMC, Mubarak Bin Abdullah Al Khater, once said that the paper recycling and reducing is the key to the sustenance of the industry since tress-cutting would be reduced. This was further affirmed by Lodha who asserted that recycling of paper would greatly conserve forests (318). Other benefits include energy saving, control of pollution, reduction of solid wastes and reduction in water consumption. According to Lodha, every 1.3 kg of waste paper produces 1 kg of recycled paper. On the contrary, every ton of conventional paper production sacrifices 17 trees. In a wider perspective, 35% of worlds commercial wood was reported to represent paper products; this was expected to hit 50% by 2000 (Lodha 318). Despite this knowledge, only a few world countries practice extensive recycling with South Korea, Mexico, Japan, the Netherlands and Portugal being the leaders. The question of environmental degradation resulting from paper production and other practices has legal foundations. First of all, Saudi Arabia is a signatory to agreements, treaties, conventions and protocols relating to environmental protection. Vincent wrote that the kingdom of Saudi Arabia is a signatory to the Montreal and the Kyoto Protocols which rate it as a non-Annex I state. Secondly, the country has enacted the Public Environmental Law through the Royal Decree No. M/34 of 2001. Table I shows some other tree-conservation-related enactments by the country. Worthy noting is the countrys regulatory framework for environmental rules which (framework) is responsible for conducting environmental studies and establishment of standards for paper production. In February 2008, the Jeddah Chamber of Commerce and Industry (JCCI) poll found out that Saudis were not aware that paper could be recycled. Following this poll, environmental activists launched a campaign dubbed Recycle Your City so as to raise the awareness of the subject matter (Lulwa Shalhoub, Arab News). The campaign was first to educate people and later to involve them in the recycling program. Some of the support systems were schools and organizations. Consequently, more school-based programs were initiated to create awareness and also to actually reduce and recycle. For instance, the Green Jeddah initiated the first recycling rally in Saudi Arabia by kids. In this awareness program, young kids aged between 3-6 years were engaged in a rally in which they were taught how to separate the recyclables from cans and plastics. The pupils were further emphasized the importance of writing on both sides of a paper so as to reduce their usage. Other programs such as dustbin audit were i nitiated. In this call, employees were required to separate the recyclables from non-recyclables and also identify which of the office papers were less required from the procurement perspective. It has been observed that the waste paper in form of magazines, cartons, books and newspapers accounts for 33% of the total waste in some countries. In Saudi Arabia, there are waste paper collection centers. The general process of paper recycling begins with waste paper collection, de-inking then the converting process. SPMC is highly committed to reliance on waste paper collection in its manufacturing technology as well as retaining the legal standards required. Recycling requires waste paper and water recycled through filtration processes. After this process, the de-inked pulp is used by Saudi Paper Manufacturing Company (SPMC) to produce tissues, towels and napkins of high quality. Paper use reduction in Saudi Arabia includes, among other things, exchanges and gifts of unwanted papers. In some instances, waste is bought to reduce it. Some of the subsidiary companies for SPMC are Saudi Recycling Company (SPRC), Saudi Paper Converting Company (SPCC), and Saudi Investment and Industr ial Development Company. Other subsidiaries, though not located in Saudi Arabia are Al Madar Paper Recycling, Al Madar Paper Trading and Al Madar Paper. All these companies have a common wider goal in the reduction and recycling of papers in the Kingdom. The holding company, SPMC does not only purpose to reduce and recycle paper but also to invest in Saudi. In other words, paper reduction and recycling in the Kingdom of Saudi Arabia is an investment nucleus. While SPMC is the largest manufacturer of tissue paper in the Middle East, SRC is popular not only in the collection of waste paper but also in its processing for recycling. From the year 2005, SPCC has specialized in the production of high quality tissue by the brands such as Pure, City, Excellence and Zaman (Saudi Paper Manufacturing Co. ). Other companies or organizations that deal with waste paper management include the Saudi Aramco and the SAMSO. For example, the Saudi ARAMCO initiated and pursued a paper recycling program in 1993. This program was not limited to a certain region but was a nationwide campaign that geared towards corporate social responsibility. The other company is SAMSO which recycles over 50,000 kg of paper each year. This company also re-cycles non-paper materials such as aluminum and glass. Through paper recycling and reducing, 35-55% of energy is saved and pollution reduced by 95%. The solid waste is reduced by 130%, water saved by 58% and forests conserved by 100% (World Watch Institute Report). The Gulf Co-operation Council stipulates that all member countries should put waste paper recycling and reduction at the top of their national priorities. It could thus be assumed that Saudi Arabia prioritizes these practices not only as stipulated by international regulations but also by the regional economic body. Among the mostly recycled paper in Saudi Arabia are cartons. However, there is a poor implementation of either international, regional and country policies with regard to paper management in terms of waste. Source Summary and Evaluation Dhir, Limbachiya and Newlandss work is an acclaimed report of an international symposium concerned with municipal solid waste (MSL) as an environmental priority of 21st century. One of the considerations of the symposium was the promotion of paper reduction together with recycling by at a higher level. Evaluation of the symposium outcome against the Saudi case does not get full implementation. The legal foundations and rules that govern paper production were outlined so as to contextualize the industry in terms of law. Peter Vincents works was a general overview of the environment of Saudi Arabia Kingdom. It was important in the evaluation of the legal framework through which paper recycling and reduction exists- as opposed to the traditional destructive way of production. In addition, professional and advocacy organizations have done great contributions towards the description of ways of waste paper management. In this category lies the works of the Oxford Business Group, the Profes sional Recyclers of Pennsylvania and the World Watch Institute. Their views were mainly professional and based on research or experience. The international level of consensus also inspired this discussion to the extent that Saudi Arabia is said to have ratified the Kyoto Protocol and the Montreal Protocol. All academic perspectives and business inputs have greatly influenced the development of the subject herein. Recommendations Both the manufacturing sector and the Saudi government should work together in the creation of more reduction-recycling programs across the country. Since it has been demonstrated that paper reduction produces better results than recycling, more emphasis should be accorded to the practice. Many benefits would accrue from recycling paper since its products are cheaper than the conventionally produced paper; this would improve Saudi economy. Waste paper recycling should be encouraged through financial incentives and stimulation. There should also be strict legislative practices which bar any Saudi from reckless pollution and wastage of paper. Saudi Korea should encourage recycling by formulating pragmatic policies which encourage recycling at the source. The awareness programs should not only involve school children but also be entrenched in the school curricula. This shall inculcate the conservation consciousness into the minds of student from early stages. In addition, student in the institutions of higher learning should be more involved since they are on the threshold of their careers. There is a need to carry out research on the actual effects of the conventional methods of paper from virgin pulp. It is only when consequences can be computed that the need to produce paper through reduction or recycling is intensified. Even more research should be carried out on the best practices for producing waste paper. The institutions of higher learning should thus stipulate capstone projects and research papers to students on conservation topics. There is also a need for the international community to initiate or implement follow up programs for all the international conventions, protocols and treaties agreed upon. Although these conventions are not governments, it is critical that their deliberations should not be in vain. The kingdom of Saudi Arabia should know and live up to its expectations towards the obligations at the international level. A birds view approach would make the kingdom more pursuant of paper reduction and recycling practices. Conclusion It has been demonstrated that principles of environmental conservation and pollution reduction emanate from global sources. Two basic practices thereof are paper reduction and recycling. This discussion has not only outlined but also illustrated how the practices are carried out in the Kingdom of Saudi Arabia. First and foremost, the concepts exist in a legally based framework in which different legislations have been enacted and treaties ratified. Further, it was demonstrated that the call is not only a governmental issue but has also been embraced by private organizations. In Saudi Arabia, companies and advocacy groups co-operate to manage waste. In addition, waste management is also an investment nucleus as demonstrated by the Saudi Paper Manufacturing Company and its subsidiaries. Indeed, the sources used were sufficient academic authorities in the delineation of the topic. It was thus recommended that among other things, the Saudi government should initiate more nationwide progr ams so as to reduce the amount of waste and the consequences thereafter. Moreover, the efforts by the government, non-governmental organizations and private companies have made substantial contribution in waste paper management.

Michelangelo Buonarroti :: essays research papers

Michelangelo Buonarotti   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Michelangelo Buonarotti was the most famous artist of the Italian Renaissance, and one of the greatest artists of all time.† (Encyclopedia, pg.398) Michelangelo was a sculpture, architect, and painter. He started to develop his talents, at an early age.   Ã‚  Ã‚  Ã‚  Ã‚  Michelangelo was born on March 6, 1475, in the small Italian village of Caprese near Florence. (Personal, pg.1) At age 12, Michelangelo became an apprentice painter, to Domenico Ghirlandajo. There after he started sculpting, one of the less popular forms of art during this time period. (Encyclopedia, pg.398)   Ã‚  Ã‚  Ã‚  Ã‚  Sculpting was Michelangelo’s one true passion. â€Å"Michelangelo resisted the paintbrush, vowing with his characteristic vehemence that his sole tool was the chisel.† (Sunsite, pg.1) Michelangelo’s statue named â€Å"David† is his most well known. He started creating the statue of â€Å"David† in 1501 and completed his masterpiece in 1504. The statue is carved from marble and stands at a towering 14 feet 3 inches. â€Å"The choice of David was supposed to reflect the power and determination of Republican Florence and was under constant attack from supporters of the usurped Medicis.† (Rubens, pg.1)   Ã‚  Ã‚  Ã‚  Ã‚  Even though Michelangelo loved to sculpt it was not his only artistic talent. Another artistic talent of his was painting. Michelangelo’s largest and most famous paint was that on the ceiling of the Sistine Chapel. It took him 4 years to complete, from 1508 to 1512. (Castela, pg.1)He also painted the â€Å"Last Judgment† over the altar in the chapel. The â€Å"Last Judgment† took 6 years for him to finish, from 1535 and 1541.   Ã‚  Ã‚  Ã‚  Ã‚  Michelangelo was also a magnificent architect. In 1560, he designed a dome to cover a massive opening, on the Sistine Chapel. They began to construct the dome that he had designed in 1560.

The Olympic Games :: Olympics History Greek Olympia Essays

The Olympic Games The Olympic Games are an international sports festival that began in ancient Greece. The original Greek games were staged every fourth year for several hundred years, until they were abolished in the early Christian era. The revival of the Olympic Games took place in 1896, and since then they have been staged every fourth year, except during World War I and World War II. Perhaps the basic difference between the ancient and modern Olympics is that the former was the ancient Greeks' way of saluting their gods, whereas the modern Games are a manner of saluting the athletic talents of citizens of all nations. The original Olympics featured competition in music, oratory, and theater performances as well. The modern Games have a more expansive athletic agenda, and for two and one-half weeks they are supposed to replace the rancor of international conflict with friendly competition. In recent times, however, that lofty ideal has not always been attained. The earliest reliable date that recorded history gives for the first Olympics is 776 BC, although virtually all historians presume that the Games began well before then. It is certain that during the midsummer of 776 BC a festival was held at Olympia on the highly civilized eastern coast of the Peloponnesian peninsula. That festival remained a regularly scheduled event, taking place during the pre- Christian golden age of Greece. As a testimony to the religious nature of the Games, which were held in honor of Zeus, the most important god in the ancient Greek pantheon, all wars would cease during the contests. According to the earliest records, only one athletic event was held in the ancient Olympics--a foot race of about 183 m (200 yd), or the length of the stadium. A cook, Coroibus of Elis, was the first recorded winner. The first few Olympics had only local appeal and were limited to one race on one day; only men were allowed to compete or attend. A second race--twice the length of the stadium-- was added in the 14th Olympics, and a still longer race was added to the next competition, four years later. When the powerful, warlike Spartans began to compete, they influenced the agenda. The 18th Olympics included wrestling and a pentathlon consisting of running, jumping, spear throwing, discus throwing, and wrestling. Boxing was added at the 23rd Olympiad, and the games continued to expand, with the addition of chariot racing and other sports. In the 37th Olympiad the format was extended to five days of competition. The growth of the Games fostered "professionalism" among the competitors, and the Olympic ideals waned as royalty began to compete for personal gain,

Is IAS12 too difficult to apply and understand? Essay

International Accounting Standards 12 continues to receive numerous criticisms on applicability and usefulness of numbers in accounting for corporate income taxes. The argument presented is that the standards set by IAS 12 are too hard to apply or even understand. In the plight of these criticisms, two accounting standards boards, UK’s (ASB) and Germany’s (GASB) opted to conduct a proactive project plan aimed at fundamentally reviewing the standards set by IAS 12 prove hard to solve through piecemeal amendment. Their main agenda was to look at critical issues of accounting for corporate income in an attempt to develop a discussion paper on the principles of IAS 12 and set out proposals. IAS 12 prohibits companies to give an account to deferred taxes by using the deferral method based on the income statement. It instead prefers the passive methodology based on the balance sheet. In addition to the above requirement, the standard requires corporations to acknowledge eithe r a deferral tax liability. Thirdly, IAS 12 requires recognition of deferred tax assets when it is certain that a corporation possess revenues in future to realize deferred tax asset. For instance, given that a company has a history of losses it will recognize deferred tax assets to the extent that taxable temporary expenses in amounts are sufficient. â€Å"Fourthly, IAS 12 does not allow asset credit and delayed tax liabilities brought about by types of material goods and liabilities whose books vary in amounts at the moment of acknowledgment† (IAS – 12). The other requirement is that IAS 12 prohibits recognition of deferred tax liabilities, and those liabilities encountered or arising from adjustments for conversion so long as it satisfies two conditions: * The main investor is capable of controlling the timing of reversal’s temporary difference. * It is certain that impermanent variation may become irreversible in the near future. Therefore, it is a requirement of the company to disclose information concerning cumulative amount of temporary variation involved. Further, IAS 12 recommends explicitly to adjustments to a fair value of assets and liabilities arising from a dual business combination. It however prohibits recognition of deferred tax liabilities because of initial recognition of good will. During revaluation of assets, IAS 12 allows and requires a corporation to recognize deferred tax liabilities in case revaluation of asset takes place. Moreover, IAS 12 requires that valuation of assets and deferred tax liabilities based on tax consequences that may arise in a manner that a company expects to recover the amount. â€Å"The standard also prohibits the deduction of deferred tax assets and liabilities to account for its current value† (Kirk, 2005). The IAS 12 further prohibits companies from making distinctions between the current and non-current assets and liabilities in its financial reports. It also provides restrictive conditions on debit and credit balances that represent deferred tax assets that could be compensated. This requirement is based on the requirements as stipulated by the financial assets and liabilities IAS 32, financial instruments disclosure and presentation. It is worth noting that among the new information IAS 12 requires disclosure include: * That for every class of impermanent disparity; * The amounts of assets and tax liabilities recognized and the amount of expenses or income labeled in the income statement with respect to discontinued operations, the realization of deferred tax asset depends on future prospects over the profits coming from reversals of existing impermanent parities. There has been a rise in criticism on financial reporting for income taxes from users and preparers. The criticism is based on the implication of the current and future effects it will have on cash flows. In their arguments, the users cite accounting requirements as too complex to apply in working out income tax. â€Å"In addition, the principles underlying IAS 12 standard exhibit numerous exemptions that finally compromise on its principles and requirements. Some users also argue against the notion that the principles underlying IAS 12 is flawed† (JORGE, 2008). However, they believe that the principles of IAS 12 are good but face a number of limitations arising from different a nd complex jurisdictions governing the various taxes in different parts of the world. â€Å"Due to these and other complexities, surrounding the applicability of IAS 12, there is a need to examine in reality the requirements of the principle is hard to apply in financial accounting and reporting† (Gupta, 2005). First, there is a need to examine significant improvements that can be incorporated to allow flexibility in application due to incompatibility with the various jurisdictions. To understand issues surrounding IAS 12, there is a need to understand problems cited as a limitation to its application. It is important to note that users and preparers believe that the requirements in IAS12 are unsatisfactory in certain aspects. In addition, users of financial reports do not find information courtesy of IAS 12 useful. In fact, complexity of taxes within corporations makes it quite difficult to assess its impact and prescribes suitable management strategies. As a result, clear and transparent information that is not adequately provided by IAS 12 prepared financial statements. â€Å"The standard seems to concentrate on extensive disclosures focusing on accounting technicalities relating to temporary differences rather than on aspects of real concern, for instance, current and future tax cash flows† (Greuning, 2011). The requirements provided by IAS 12 appear too difficult to apply in practice since they are unclear. Its relevance and understandability of information provided by the standard according to preparers is questionable. In the plight of these limitations, IAS 12 has proved hard to apply and understand and therefore a number of issues need to be addressed to make it better. Several strategies can be incorporated to address the limitations in the IAS12. * Amendments â€Å"Some amendments can be adopted to fix the limitations present in IAS 12 standard† (Everingham & Kana, 2008). These would address particular issues such as the current unsatisfactory requirements and disclosures provided in financial reports prepared under IAS 12. This strategy will protect the main principles of IAS 12. * Develop a new accounting standard- This is on different principles from the present IAS 12 standard. It is vital to note that developing an entirely different approach to accounting pose a considerable challenge. This is because developing a new approach that matches the standards of IAS 12 can take time but limited amendments can save credible amount of time and result in less disruptive time for change and complete replacement. The main question that users should ask to concern IAS 12 is whether the limitations should be addressed through limited amendments or by simply developing an entirely new standard that is based on different principles away from that which is addressed by IAS 12. In view of these strategies, some preparers disagree with the proposed changes. â€Å"This is because they believe that the limitations contemplated in the IAS 12 were not as serious to justify the expenses and efforts† (Delaney, 1985). Some amendments need change for instance; the current IAS 12 brings confusion in the relationships between the tax paid and current tax expense as reported in the income expense. In order to address the inefficiencies, the following questions need answers: * Should there be additional disclosures in IAS 12? Moreover, will these disclosures help in solving the misunderstanding between the taxes paid and current tax expenses? * â€Å"Should strategies on tax accommodate user information needs?†(Choi, 2001) * If a new standard different to IAS 12 was to be adopted in preference to amending it, will the new system deliver up to the expectation of income tax determination? Will the new approaches pose a challenge when it comes to implementation? It is important to note that, the use of IAS 12 is a complex affair since the users have limited knowledge on the limitations and intrigues surrounding its use on tax issues and end up struggling using the information as it is without caution and end up messing. Moreover, dealing with the challenges is not a straightforward venture. Uncertainty of taxes in financial statements is of utmost interest to users and is therefore more interested on how to reflect tax risks in financial reporting. In addition, IAS 12 neither provides explicit guidance nor gives specific disclosures on accounting for uncertain tax positions. â€Å"It only gives provisions that current tax liabilities at the amount expected to be paid tax authorities using the tax laws enacted at the balance sheet date on rates specified for different nations. This implies that the amount recognition is based on estimates owed or realized† (Balthazar, 2011). Conclusion In conclusion, IAS 12 has numerous loopholes that should not be ignored. This is because it creates a large gap between the requirements as suggested by IAS 12 standard as compared to what is needed by users for purposes of predicting future tax cash flows. These user needs may not be met through additional disclosures in financial statements rather other parts of company report may be used to provide a secure location for that kind of information. References: BALTAZAR, E. (2011). International GAAP 2012 Generally Accepted Accounting Practice under International Financial Reporting Standards. Chichester, West Sussex, U.K., John Wiley & Sons. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=420730 CHOI, F. D. S., MEEK, G., & FROST, C. A. (2001). International accounting. Upper Saddle River, N.J., Prentice Hall. DELANEY, P. R. (1985). GAAP. New York, J. Wiley & Sons. EVERINGHAM, G. K., & KANA, S. P. (2008). Corporate reporting. Sunninghill, PricewaterhouseCoopers. GREUNING, H. V., SCOTT, D., & TERBLANCHE, S. (2011). International financial reporting standards: a practical guide. Washington, D.C., World Bank. GUPTA, K. (2005). Contemporary auditing. New Delhi, Tata McGraw-Hill. â€Å"IAS – 12 – World GAAP Info.† Web. 17 Feb. 2013 . INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE. (2000). Revisions to international accounting standards: IAS 12, Income Taxes; IAS 19, Employee Benefits; IAS 39, Financial Instruments: recognition and measurement and other related standards. JORGE FAUSTINO, S. M. (2008). Implementing reforms in public sector accounting. Coimbra [Portugal], Università © de Coimbra. KIRK, R. J. (2005). International financial reporting standards in depth. Volume 1, Theory and practice. Amsterdam, Elsevier/ Butterworth Heinemann/CIMA Pub. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=166355 LAWRENCE, S. (1997). International accounting. London [u.a.], Internat. Thomson Business Press. NOBES, C., & PARKER, R. H. (2008). Comparative international accounting. Harlow, Essex, England, Prentice Hall/Financial Times. OPPERMANN, H. R. B. (2009). Accounting standards. Lansdowne, Juta. PADMAVATHI, C. (2005). Accounting standards: towards harmonization and convergence. Hyderabad, ICFAI University Press. PRICEWATERHOUSECOOPERS. (1998). International accounting standards: applying IAS 12, income taxes, in practice. [Londres], PricewaterhouseCoopers. POWER, M. (2007). Organized uncertainty: designing a world of risk management. Oxford [u.a.], Oxford Univ. Press. WIECEK, I. M., & YOUNG, N. M. (2010). IFRS primer: international GAAP basics. Hoboken, NJ, John Wiley & Sons ZIMMERMANN, J., WERNER, J. R., & VOLMER, P. B. (2008). Global governance in accounting: rebalancing public power and private commitment. Basingstoke [England], Palgrave Macmillan. (2007). International accounting and reporting issues. New York, United Nations Publication (2008). Relationships with the state: proposed amendments to IAS 24 : comments to be received by 13 March 2009. London, U.K., International Accounting Standards Board. (2009). International Financial Reporting Standards IFRSs 2009

Delwarca Case Essay

Delwarca Software’s remote support unit is having issues with its customer service performance. The long waiting times for calls are the predominant cause for customer dissatisfaction. Jack McKinnon is concerned with the impact of customer dissatisfaction on the growth rate of the company. The challenge for Jack McKinnon is to find out a solution for decreasing the long wait times on calls without investing much money. He will have to re work the whole process so that the calls can be channelized efficiently and various customer concerns be resolved effectively. Initially in the current process a customer call was greeted by an operator who does the identity and problem verification and decides to transfer a call to critical support unit or next available associate. The problem with this process was that even if a senior associate is available to attend to the customer’s concerns still the customer remains on hold and is routed to the senior associate only through the a ssociate and that also only if the associate fails to provide appropriate solution to the customer. The waiting time was involved between each passes and during the long hold time the customer was engaged only with an automated update every 90 seconds regarding further estimated hold time needed. During various interactions with customer iT was found that customers had trust on the technical competency of Delwarca’s support unit but were miffed on the long wait times. The customer had an option of directly requesting a specific Senior Associate by name. With the introduction of Rapid ID procedure the process flow was changed. Rapid ID procedure aimed to reduce regular calls by 1 FTE. Two highly experienced associates were upgraded to the roles of ‘Directors’ who would direct the calls from customers to either an Associate or a Senior Associate depending on the problem. They would not try to provide any solution but direct the calls to the proper channels only. In case the call is directed to the associate and he is not able to provide a solution, the call could still be forwarded to a senior associate. Also customer had an option to request for a Senior Associate directly. Under very rare cases only the customers were  directed to Delwarca’s Criti cal Support Unit. Analysis of the impact of Rapid ID procedure on the Customer satisfaction index: Positives –  Introducing Director Associates to direct customers to the appropriate associate/senior associate saw a reduction in both the wait and talk time with associate, from 66.8 minutes to 41.5 minutes that is a decrease of 37.8%. The calls that were routed from associate to senior associate took a dip of 11.3%. Associates’ percentage of resolving the calls increased from 51% to 62%. Negatives – The new problem that arose with Rapid ID procedure was an increase of 46.5 minutes to 89.2 minutes (a 91.8% increase) for calls that were forwarded directly to senior associates. With the large customer base and the number of senior associate available in Delwarca, this level of increase was not sustainable. Major cause for the increase in the time when they request a senior associate is because more and more customers were preferringdirect calls to senior associate and therefore the longer waiting times. Lack of trained associate and thereby customer’s preference for senior associates caused a major shift from associates not being able to contribute much and senior associates being swarmed with 65% of the total calls. 18% of all calls were directed straight to senior associates, 28% were direct requests from the customers and 19% from calls forwarded to them by the associates. Only 35% of the calls were sent to associates. Few associates and senior associates were reported to haveextremely longer minutes per call than the average call durations. This was affecting the overall quality of customer service performance. The three longest durationsfor associates were 50 minutes, 40.8 minutes, and 37.8 minutes. The next highest is 28.5 whereas the average stands at 29.4. Similarly the highest twofor senior associate were 44.6 min and 33.1 min. The next highest was 24.1min which is same as average of 24.1. It seems that these few associates and senior associates were causing larger holding time which increases number of callers in waiting queue. //Please Review the below part as I have jotted down the points in a hurry// Problem Statement – Jack McKinnon had to provide recommendation for increasing a thereby alleviated customer satisfaction, increase the Delwarca’s customer service unit performance and win back the customer’s trust. Also as a Manager it was his responsibility to address to the problems faced by his subordinates. With a shift to Rapid ID procedure the senior associates were bogged down by high pressure and at the same time they had to be the victim of irate dissatisfied customer’s rude remarks. Aronson, Pierce and Shah were speaking to the customers for the longer durations. The minutes per call for these Associates were much higher than the average. Similarly Kalinowsky and Sacks were speaking to the customers for the longer durations. Now Jack as manager has to take a decicison as to what to do with these employees. Recommendations – From the findings it can be concluded that there is a lack of skilled/experienced associates in the company and so customer finds more satisfaction when handled by senior associates. Unless the customer’s perception is changed they will keep swarming the senior associates. Also lack of problem solving ability by the current associates causes more and more calls forwarded from them to senior associates thereby increasing the pressure on them. Hence associates must be trained to solve different complex issues and customer handling ways. Proper mentoring will improve their performances and abilities to solve customer concerns effectively. Rather than directly forwarding the calls to the senior associate the ideal process would be to provide the customer with an associate who could discusses his problems and provide a part of resolution to it and then forward the case to the senior associate for further workaround. This will not only target efficient and effective solution provision to customer but also less dependency on the senior associate. Also it will help the associate to gain experience on the problem solving ability. If there is demand for a specific senior associate the requests can be divide in time slots and these incoming requests could be allotted the slots as per their preference. This would reduce the waiting/holding times and customer will not bother to call back if he/she is assured of a fixed time slot for his problem solving. Meanwhile the concerns of the customer can be noted by the associate and if the associate is ideal he can work-around the problem and propose a solution to the senior associate who in turn can judge and be ready with the possible solutions before the customer’s slot arrives.