Terrorism

1. Philosohies and rules of war dictate that it is both sound and practical that groups with the same opponent and the same schema forge alliances or common supportive coexistence, and there is a very high probability that that dogma would be followed, considering the fact that terror group leaders are learned men. But the question of having the same agenda is putting terrorism in a very general and pop culture perspective since the truth is that these types of militant extremists have, at some level, varying aims and goals. But another important point is the fact that these different groups can be brought together to act as one unit in a full scale operation. The best example of this tendency is the 9/11 bombing, described by the FBI a few days after the incident as a handiwork of an alliance of terrorists. 2. The pall of gloom that terrorism brought not just in the US but around the world is not just the threat to life, but as well as the threat to liberty. Because of the growing manhunt for suspected terrorists and the increased drive to take the upper hand and identify terrorists even before they can accomplish their missions, some elements of the law enforcement agencies are willing to overstep their boundaries marked by the exercise of individuals of their most basic human right, ready to trespass the domain of private communication with the use of many and all technologies available, including the Internet. Terror groups also found the use of Internet for their cause – ransom demands are telecast via video streaming while home made and improvised bombs know-how is just a few mouse clicks away. For this new problem, the solution may lie in old practices – kill the head of the serpent and the body ceases to be dangerous. The Internet should not be the target, as US knows it cannot afford to start a new war – even in cyberspace. 3. Michael Hamm reported that motor vehicle violations, counterfeiting, smuggling weapons of mass destruction and armed bank robbery, are several criminal acts terrorist participate in. The most common criminal action that terrorists do is the falsification of documents and forgery. Almost every terrorist who entered the country carries a false identification. This criminal act is very crucial in the operation of terrorist cells in the country since the first and most important part of a terrorist mission is the entry of a terrorist in a country or place wherein the terrorist action would take place. This is the reason why border officials are consistently monitoring the many entry and exit points of the country. 4. The most significant findings and information contained in the Hamm report is the moving away of the image of the mythical militant extremists to purely purist forms of terrorism from the true terrorists which is much less now conformed in the mold of idealist / hero into nothing more than a common criminal. The implications for the criminal justice system of this newfound knowledge consist of the possible responsibility law enforcement and criminal justice elements when it comes to profiling active and prospective terrorists by investigating the offenses for they are in trial for. Hamm concluded how a certain set of criminal acts bend towards particular groups as its identifiable crime suspects and this newfound information can be utilized as another efficient tool to battle terrorism. 5. Both international and domestic terrorism presents a clear and urgent threat to the US, simply because a threat to even one single life is an important issue to the US government, or to any government for that matter. Domestic and international terrorism may have many similarities and differences which include M.O. (method of operation), financing, training, orientation, goals, aims and motivation, strength in numbers, leadership hierarchy. Intelligence network and arms and ammunitions supplies, terrorism still wears the same face and the government's efforts to counter it do not diminish based on the type of terror group it faces. Terrorism and the government's fight against it is a microcosm of the proverbial battle of good versus evil; the truth is that there will always be a group of people who will try to use force and intimidation to achieve there cause. Terrorists might have a different name in the future, and the government which the people created is always tasked to battle a constant threat to life presented by another man as a result of differences in ideology. References: Hamm, M. S. (2005). Crimes Committed by Terrorist Groups: Theory, Research and Prevention. US Department of Justice. Retrieved October 10, 2007, from http://www.ncjrs.gov/pdffiles1/nij/grants/211203.pdf Schmid, A. (2005). Links between Terrorism and Drug Trafficking: A Case of â€Å"Narco terrorism†. Retrieved October 10, 2007. Sisk, R. and Smith, G. B. (2001). Feds Have Names Of 19 In Dark Alliance. The New York Daily News. Retrieved October 10, 2007, from http://www.fromthewilderness.com/timeline/2001/nydailynews091501.html             Terrorism Assignment 2. â€Å"Prepare a written briefing for a Board (you can choose any company real or imaginary) explaining why they should increase or decrease their security in relation to the threat of terrorism. † BRIEFING ON THE THREAT OF TERRORISM POSED TOWARDS TELECOMS ORGANISATIONS OPERATING IN AFRICA Purpose: The purpose of this briefing note is to present an overview of terrorist threats within Africa, spesifically towards the Vodacom organisation operating in the Democtratic Republic of Congo (DRC) and to make recommendations on how to mitigate the risk.Background: Terrorism: â€Å"the United Nations General Assembly has condemned terrorist acts using the following political description of terrorism: â€Å"Criminal acts intended or calculated to provoke a state of terror in the general public, a group of persons or particular persons for political purposes are in any circumstance unjustifiable, whatever the considerations of a political, philosophical, ideological, racia l, ethnic, religious or any other nature that may be invoked to justify them. http://en. wikipedia. org/wiki/Definitions_of_terrorism Terrorism has become a global threat and is not just confined to the theatre of war, it is also not only targeted at nations involved in those conflicts like the United States (9/11) and Great Britain (the July 7 London Bombings) but also with any nation and organization that is seen as an ally of such nations.ESICS Briefing on THE TERRORISM THREAT LINKED TO THE LIBYAN CRISIS states â€Å"obviously on the top of the list of likely targets for Colonel Gaddafi are the United Kingdom and France, they are closely followed by the United States (an old and usual enemy of Libya but also by the Arab countries taking part in the coalition, every single national participating in the operations could be seen as a legitimate target. † In stating this the point that I am making is, although Vodacom is a South African operation, we must take into conciderati on that Vodafone, a British entity is our major hareholder and the building where our head office is located, Building Gulf Oil is an American institution. Thus it would be a grave mistake to make the assumption that the company cannot be seen as a target of militant action and sensationalism. Current Situation: STRATEGIC ENVIRONMENT Emerging Terrorist Networks â€Å"As al-Qaeda has syndicated its ideology and violence, its affiliates and adherents in Africa and the Arabian Peninsula have become increasingly networked and adaptable in their recruiting, training, financing, and operations.Violent extremist organizations, insurgents, and criminal organizations are exploiting weak governance and under-governed spaces, and remain determined to harm the United States, our partners and Allies, and innocent civilians. † General Carter Ham, USA Commander, USA Africa Command in his address to the Senate of Armed Services Committee, 2 March 2013(sic). Terrorist organisations are operat ing in numerous African countries now including but not limited to: Country| Active Terrorist Networks (only major listed)|Cameroon| Al Qaeda – Movement for Democracy and Development (MDD)| Chad| Al Qaeda – Movement for Democracy and Justice in Chad (MDJC) +2| Egypt| Al Qaeda + 11| Eritrea| Al Qaeda – Eritrean Islamic Jihad Movement (EIJH)| Ethiopia| Al Qaeda – Ethiopian Islamic Jihad Movement (EIJH) + 6| Kenya| Al Qaeda – Al Shabaab| Libya| Al Qaeda – Libyan Islamic Fighting Group (LIFG)| Morocco| Al Qaeda – Moroccan Combatant Islamic Group (MCIG)| Nigeria| Al Qaeda – Boko Haram| Somalia| Al Qaeda – Al-Shabaab| Sudan | Al Qaeda – Sudan People Liberation Army (SPLA) – Hezbollah| Syria| Al Qaeda – Al Nusra| Tanzania| Al Qaeda – People Liberation Party|Zambia| Riyadus-Salikhin Reconnaissance – Al Nusra| Source: http://en. wikipedia. org/wiki/Terrorism and www. crimicweb. org â€Å"The Ho rn of Africa is Africa’s bridge to the Middle East. That fact explains much about the complex interrelationships between differing Islamic cultures within Africa, from east to west. † (John Harbeson, The War on Terrorism in Africa; Princeton N. Lyman from Africa in World Politics p7) Vodacom Congo has up till now not considered terrorism to be a significant threat to business operations but rather conventional security threats as in fire, arson, bomb threats and armed robbery to name but a few.Recommendations: The risk management department recommends that the company review all emergency response, disaster recovery and business continuity protocols. Establishing contingency plans is suggested; general training for all employees would result in more efficient response should an emergency occur and is highly recommended. It is imperative that all security measures are reevaluated and a gap analysis be conducted. Recommended areas where improvements are needed: * Access a nd egress control policies should be enforced for effective visitor control and especially with vehicles entering premises and deliveries of parcels. Do an assessment of all CCTV and monitoring services and place additional cameras where needed. * At the moment the local security service provider is ill equipped, there are no personal body scanners available at the building entrances. * There is no equipment available to search vehicles, i. e. stemmed mirrors etc. * Retraining of security personnel, the security officers have not been trained on what to look for and how to search vehicles and people properly. * General housekeeping, rubbish collection and building perimeters. (Security Management Bulletin no: 6.Countermeasures of threats of terrorist action) Training for these officers should focus on the following types of terrorist attack: * Person borne IED (improvised explosive device) * Vehicle borne IED * Bombs directed against property and infrastructure, delivered in trucks, vehicles, packages, briefcases, laptop bags and also in postal items * Fire bombs using chemicals and incendiaries * Improvised mortar attacks * Riots and civil disturbance * Kidnapping for ransom and extortion * Armed robbery, fraud and credit card fraud for financing purposes * Assassination of key figures Security Management Bulletin no: 6. Countermeasures of threats of terrorist action) In a nutshell the security department should do a threat analysis and identify areas where the terrorist would want to: * Penetrate * Avoid * Exploit * Attack Jason A, 16 April 2013, Boston Marathon Bombings, in his briefing after the bombings, also suggest that it should be noted that due to the recent attacks in Boston, that security at airports across the United States and Great Britain has increased substantially. Business travelers are advised to allow extra time to get to the ticket counters and to their gates.There are long queues at the check-in counter and the duration of the security p rocess has increased due to additional random bag searches. Hotel security has increased as well; travelers are advised to adhere to corporate security policies as well as local policies. In saying that if employees travel to the United States or the United Kingdom for the purpose of visiting Vodacom’s parent company or any other business travel, it is advised to monitor local media for additional security measures. This will also apply to the other countries mentioned where known terrorist cells are operating. ConclusionA school of thought that postulates â€Å"as major disasters never occur at a time or in a manner that may be anticipated, pre-catastrophe planning is futile† is a gross abdication of reponsibilty and cannot be supported. (Security Management bulletin 5. Disaster Planning) Vodacom Congo has clear ties with the United Kingdom due to alliances and shareholding agreements, Vodacom’s offices are located in a building owned by an American entity and the building is shared by Chevron Oil which is an American owned company, it would therefore be foolish not to recognize the direct threat to the company, it’s employees and assets. It would be surprising if many businesses and orginisations could avoid the consequences of terrorism at some time in their existance†. (Security management Bulletin 5. Disaster Planning) It is therefore imperative that urgent security focus is placed on the threat that terrorism poses to the company and its operations, large walk in customer care areas are prime targets where lots of people gather. A balance of security measure are very important to maintain a vigilant level of protection without creating too much discomfort to the employees, visitors, business partners and customers.References Martin Gill, The Handbook of Security. 2006 The Security Institute. Security Management Bulletin 5. Emergency Procedures – Major Disasters. Rachel Briggs, R. and Edwards, C. The business of re silience. DEMOS 2006 The Security Institute. Security Management Bulletin No: 6. Countermeasures to threats of terrorist action. John Harbeson, The War on Terrorism in Africa; Princeton N. Lyman from Africa in World Politics p7 Human Rights Watch: In the name of security, www. hrw. org Wikipedia Website: http://en. ikipedia. org/wiki/Terrorism Michael Burleigh; Al-Qaeda and a Decade of Terror Andre Burstin; European Strategic Intelligence and Security Center (ESISC), Boko Haram and the Risk of Terrorism in Northern Cameroon; 01 April 2012 Claude Moniquet, European Strategic Intelligence and Security Center (ESISC), The Terrorist Threat Linked to the Libyan Crisis. 2011 Jason A; Boston Marathon Bombing, Aon Crisis Management Consulting/ Global Risk Consulting. p4 Subscriber Journal, 16 April 2013 Terrorism Assignment 2. â€Å"Prepare a written briefing for a Board (you can choose any company real or imaginary) explaining why they should increase or decrease their security in relation to the threat of terrorism. † BRIEFING ON THE THREAT OF TERRORISM POSED TOWARDS TELECOMS ORGANISATIONS OPERATING IN AFRICA Purpose: The purpose of this briefing note is to present an overview of terrorist threats within Africa, spesifically towards the Vodacom organisation operating in the Democtratic Republic of Congo (DRC) and to make recommendations on how to mitigate the risk.Background: Terrorism: â€Å"the United Nations General Assembly has condemned terrorist acts using the following political description of terrorism: â€Å"Criminal acts intended or calculated to provoke a state of terror in the general public, a group of persons or particular persons for political purposes are in any circumstance unjustifiable, whatever the considerations of a political, philosophical, ideological, racia l, ethnic, religious or any other nature that may be invoked to justify them. http://en. wikipedia. org/wiki/Definitions_of_terrorism Terrorism has become a global threat and is not just confined to the theatre of war, it is also not only targeted at nations involved in those conflicts like the United States (9/11) and Great Britain (the July 7 London Bombings) but also with any nation and organization that is seen as an ally of such nations.ESICS Briefing on THE TERRORISM THREAT LINKED TO THE LIBYAN CRISIS states â€Å"obviously on the top of the list of likely targets for Colonel Gaddafi are the United Kingdom and France, they are closely followed by the United States (an old and usual enemy of Libya but also by the Arab countries taking part in the coalition, every single national participating in the operations could be seen as a legitimate target. † In stating this the point that I am making is, although Vodacom is a South African operation, we must take into conciderati on that Vodafone, a British entity is our major hareholder and the building where our head office is located, Building Gulf Oil is an American institution. Thus it would be a grave mistake to make the assumption that the company cannot be seen as a target of militant action and sensationalism. Current Situation: STRATEGIC ENVIRONMENT Emerging Terrorist Networks â€Å"As al-Qaeda has syndicated its ideology and violence, its affiliates and adherents in Africa and the Arabian Peninsula have become increasingly networked and adaptable in their recruiting, training, financing, and operations.Violent extremist organizations, insurgents, and criminal organizations are exploiting weak governance and under-governed spaces, and remain determined to harm the United States, our partners and Allies, and innocent civilians. † General Carter Ham, USA Commander, USA Africa Command in his address to the Senate of Armed Services Committee, 2 March 2013(sic). Terrorist organisations are operat ing in numerous African countries now including but not limited to: Country| Active Terrorist Networks (only major listed)|Cameroon| Al Qaeda – Movement for Democracy and Development (MDD)| Chad| Al Qaeda – Movement for Democracy and Justice in Chad (MDJC) +2| Egypt| Al Qaeda + 11| Eritrea| Al Qaeda – Eritrean Islamic Jihad Movement (EIJH)| Ethiopia| Al Qaeda – Ethiopian Islamic Jihad Movement (EIJH) + 6| Kenya| Al Qaeda – Al Shabaab| Libya| Al Qaeda – Libyan Islamic Fighting Group (LIFG)| Morocco| Al Qaeda – Moroccan Combatant Islamic Group (MCIG)| Nigeria| Al Qaeda – Boko Haram| Somalia| Al Qaeda – Al-Shabaab| Sudan | Al Qaeda – Sudan People Liberation Army (SPLA) – Hezbollah| Syria| Al Qaeda – Al Nusra| Tanzania| Al Qaeda – People Liberation Party|Zambia| Riyadus-Salikhin Reconnaissance – Al Nusra| Source: http://en. wikipedia. org/wiki/Terrorism and www. crimicweb. org â€Å"The Ho rn of Africa is Africa’s bridge to the Middle East. That fact explains much about the complex interrelationships between differing Islamic cultures within Africa, from east to west. † (John Harbeson, The War on Terrorism in Africa; Princeton N. Lyman from Africa in World Politics p7) Vodacom Congo has up till now not considered terrorism to be a significant threat to business operations but rather conventional security threats as in fire, arson, bomb threats and armed robbery to name but a few.Recommendations: The risk management department recommends that the company review all emergency response, disaster recovery and business continuity protocols. Establishing contingency plans is suggested; general training for all employees would result in more efficient response should an emergency occur and is highly recommended. It is imperative that all security measures are reevaluated and a gap analysis be conducted. Recommended areas where improvements are needed: * Access a nd egress control policies should be enforced for effective visitor control and especially with vehicles entering premises and deliveries of parcels. Do an assessment of all CCTV and monitoring services and place additional cameras where needed. * At the moment the local security service provider is ill equipped, there are no personal body scanners available at the building entrances. * There is no equipment available to search vehicles, i. e. stemmed mirrors etc. * Retraining of security personnel, the security officers have not been trained on what to look for and how to search vehicles and people properly. * General housekeeping, rubbish collection and building perimeters. (Security Management Bulletin no: 6.Countermeasures of threats of terrorist action) Training for these officers should focus on the following types of terrorist attack: * Person borne IED (improvised explosive device) * Vehicle borne IED * Bombs directed against property and infrastructure, delivered in trucks, vehicles, packages, briefcases, laptop bags and also in postal items * Fire bombs using chemicals and incendiaries * Improvised mortar attacks * Riots and civil disturbance * Kidnapping for ransom and extortion * Armed robbery, fraud and credit card fraud for financing purposes * Assassination of key figures Security Management Bulletin no: 6. Countermeasures of threats of terrorist action) In a nutshell the security department should do a threat analysis and identify areas where the terrorist would want to: * Penetrate * Avoid * Exploit * Attack Jason A, 16 April 2013, Boston Marathon Bombings, in his briefing after the bombings, also suggest that it should be noted that due to the recent attacks in Boston, that security at airports across the United States and Great Britain has increased substantially. Business travelers are advised to allow extra time to get to the ticket counters and to their gates.There are long queues at the check-in counter and the duration of the security p rocess has increased due to additional random bag searches. Hotel security has increased as well; travelers are advised to adhere to corporate security policies as well as local policies. In saying that if employees travel to the United States or the United Kingdom for the purpose of visiting Vodacom’s parent company or any other business travel, it is advised to monitor local media for additional security measures. This will also apply to the other countries mentioned where known terrorist cells are operating. ConclusionA school of thought that postulates â€Å"as major disasters never occur at a time or in a manner that may be anticipated, pre-catastrophe planning is futile† is a gross abdication of reponsibilty and cannot be supported. (Security Management bulletin 5. Disaster Planning) Vodacom Congo has clear ties with the United Kingdom due to alliances and shareholding agreements, Vodacom’s offices are located in a building owned by an American entity and the building is shared by Chevron Oil which is an American owned company, it would therefore be foolish not to recognize the direct threat to the company, it’s employees and assets. It would be surprising if many businesses and orginisations could avoid the consequences of terrorism at some time in their existance†. (Security management Bulletin 5. Disaster Planning) It is therefore imperative that urgent security focus is placed on the threat that terrorism poses to the company and its operations, large walk in customer care areas are prime targets where lots of people gather. A balance of security measure are very important to maintain a vigilant level of protection without creating too much discomfort to the employees, visitors, business partners and customers.References Martin Gill, The Handbook of Security. 2006 The Security Institute. Security Management Bulletin 5. Emergency Procedures – Major Disasters. Rachel Briggs, R. and Edwards, C. The business of re silience. DEMOS 2006 The Security Institute. Security Management Bulletin No: 6. Countermeasures to threats of terrorist action. John Harbeson, The War on Terrorism in Africa; Princeton N. Lyman from Africa in World Politics p7 Human Rights Watch: In the name of security, www. hrw. org Wikipedia Website: http://en. ikipedia. org/wiki/Terrorism Michael Burleigh; Al-Qaeda and a Decade of Terror Andre Burstin; European Strategic Intelligence and Security Center (ESISC), Boko Haram and the Risk of Terrorism in Northern Cameroon; 01 April 2012 Claude Moniquet, European Strategic Intelligence and Security Center (ESISC), The Terrorist Threat Linked to the Libyan Crisis. 2011 Jason A; Boston Marathon Bombing, Aon Crisis Management Consulting/ Global Risk Consulting. p4 Subscriber Journal, 16 April 2013

Coloplast Organizational Structure Essay

Coloplast went from a production structured organization to a functional structured organization. In the production structure the focus was on the products wish were divided into 3 product divisions. In the functional structure the company focus on specialization of tasks. Before: the production organization The production organization structure also called Division Structure is divided into 3 production division; skin, wound care and continence care, and ostomy care. Each division beyond having its department for research, development, sales and marketing, contains all the necessary resources and functions. By applying the production organization, a company gains the followings benefits: A structure where it’s easy to define the objectives and word work assignments can simply be coordinated, within each division. Another Benefit Coloplast can gain on this structure is the flexibility among workers. Workers from one department can be put on assignments in another department within the same division, if needed. This’s made possible by the fact that most of the workers are not specialist in any specific field. Should any problem occur in the division structure the causes are quickly detected and solved. This type of structure allows local leaders to make small locale adjustments to meet the challenges in there division. But this system holds its own weaknesses. It can harm communication flow between different divisions. This may result in loosing the overall focus on the objective of the organization. It may happen that each local division create its own culture witch may not necessarily be compatible with the company’s culture as a whole. The limited communication between divisions makes it hard for them to exchange experience and expertize. This system by nature is heavy and costly. In order for the company to have all the necessary resources and functions within each division, they can’t afford the best expertize on every field. After: the functional organization The new organizational structure focuses more on functions. Unlike the previews structure that focused on the product. This new structure pulls functions out of the different divisions and put them in centralized units, each specialized in respectively Globale Maketing, R and D and Global Operations. As a consequence, the former divisions are reduced to production units and subsidiaries; that receives instructions from the top. To assure communication between top and bottom, Coloplast place Commercial Excellence above the whole new structure. With the three functional divisions, Coloplast makes sure that there a clear purpose that goes all the way through the whole company, when it comes to their global marketing, innovation and how new products should be developed. As a result Coloplast becomes a unified company with no duplications of tasks. The greatest advantages of this functional centralized structure is its lightness and affectivity. It gives the opportunity to hire highly specialized staff. As Coloplast CEO puts it; â€Å"The subsidiaries have a huge, but simple, responsibility: they ? ll have to sell like the dickens† meaning that Coloplast now can headhunt exact talents for each function. The workforce those talents brings is not only promoting a single product but the company as a whole. Employees have the opportunity to learn from their superiors. They also have the opportunity to work alongside colleagues who relate to their professional interests and abilities, thus making for a more productive and enjoyable environment. By moving the production responsibility from all division to the Global Operation in cheap-labor countries, it’s possible for Coloplast to reach the point of an Economical of scale. Like any other organization structure, the functional organization has weaknesses. Because of the decision-making within the functional works from top to bottom, it’s a constant challenge to make sure that the organizations objectives are integrated at the bottom. Another disadvantage is that units may have limited flexibility in problem solving, making changes or responding quickly to customer demands and needs, since the final decision-making authority rest with the top level of management. So how does Coloplast solve these challenges? Commercial Excellence/Business Excellence For solving the challenge of implementation of the organizations objectives and assurance of a two-way communication, Coloplast places â€Å"Commercial Excellence† above the entire new structure, which acts like the strong arm, that’ll prepare budgets and make sure that objective are achieved. Commercial Excellence or Business Excellence is the systematic use of quality management principles and tools in business management with the goal of identifying improvement opportunities, area of strength and ideas for future organizational development. It’s a support function that’ll help ensure â€Å"best practice† so that the organization can avoid those complications. Conclusion This new organizational structure is a natural step for the entire group, not only does it outsource to cheaper-labor countries but it has also given Coloplast improved profitability and an organic growth of 7%. The sustained competitiveness Coloplast has gained is due to the change of organization structure where they went from a production organization to a functional organization. With the transformation came the opportunity of standardization of tasks, this leads to efficiency and expertise in the related fields. This was something they lacked in the production organization. By implementing the Business Excellence, Coloplast shows that it’s aware of the weaknesses of the new organization design and intent to avoid them. Lars Rasmussen, Coloplast CEO, emphasizes how important it’s that this supporting system doesn’t end up like a police maneuver, keeping subsidiaries in an iron grip. â€Å"Instead it shall ensure â€Å"best practice† and set such high standards, that where that is difficulty, it’ll become natural to draw on headquarters†. It’s all about motivation, contributing to people and relying on each other. This serves as a great factor for self-actualization for the individual employee witch is not only contributing to the fulfillment of personal potential but also to the work-environment. The new organization has great potential; they have cut production time by half, they went from 13 factories to 10, constantly stimulating innovation by supporting Coloplast Incubator. Coloplast current strategy placed a great deal of responsibility on the shoulders of their employees, as well as implementation of some standard guidelines and the right motivation. There are no doubt about the new structure is more complex than the previews one. Annex

Wk4 INTL304 Forum Coursework Example | Topics and Well Written Essays - 250 words

Wk4 INTL304 Forum - Coursework Example Precisely, these sources include communication systems, weapon, systems, and radar. In addition, SIGNET provides data for national diplomacy, scientific use, and economic planning for improving the security of the nation. SIGNET has five components that provide the essential intelligence information3. In particular, these mechanisms are communication, electronic, non-imaging infrared, laser, and radar intelligence. However, these components are categorised into three broad categories that fall under the intelligence community and aid in the collection and exploitation of the signal transmitted from the sources mentioned above4. Precisely, these three groups are Communications Intelligence (COMINT), Foreign Instrumentation Signals Intelligence (FISINT), and Electronic Intelligence (ELINT). Although there are various functions of SIGNET, data collection and signal analysis are the primary and most essential features. First, Signet collects information in different ways depending on the type of message targeted. The NSA receives the raw data and uses its translators, analysts, cryptologists, and other technical experts to convert the unprocessed data into constructive information5. After the collection, processing, and analysis of the raw data, the useful information is passed to the CIA and the Intelligence Community analyst who integrate it with information from other sources to produce a furnished intelligence6. Finally, the data is distributed to various agencies and security personnel (policymakers and the President) who require the information for diplomatic and safety reasons. Central Intelligence Agency. "Intelligence: Signals Intelligence — Central Intelligence Agency." USAgov. Last modified 2010.

Should Welfare Recipients Submit to Drug Testing Essay

Should Welfare Recipients Submit to Drug Testing - Essay Example According to (Ames, 2012), it is crucial for companies to do drug test on aspiring employees, before they officially embark on their duties. This proposal has found favor in so many states in America. Policies are underway to make sure that any individual who is a beneficiary of the states undergoes this crucial step. There are several critics who claim that, by doing drug testing, the state will be interfering with an individual’s privacy. Everyone in a working organization should be treated equally. If this policy is passed, everyone should face the same music. State beneficiaries should not be side lined because they are lowly financially. On the other hand, the people who support this policy claim that this step will check that the states money is put in its right use. For failing this test, the state beneficiaries will lose their benefits accordingly. According to (Carpenter, 2012), these welfare organizations include Temporary Assistance for Needy Families, Supplemental nutrition Assistance Program, and Section 8 Housing Choice Voucher Program. Thesis statement This research will focus on establishing the benefits of doing drug tests to all state beneficiaries, and how it benefits the common US citizen, the state, and society at large. Hypothesis This research is bound to answer the following questions; 1. Is drug test on state beneficiaries necessary? 2. How does a drug test benefit the government at large? 3. How does a drug test benefit the society at large? 4. Is implementing this policy attainable? Assignment 2 (40 Points) The audience This paper has been mainly composed to convince all the state beneficiaries on the benefits of taking a drug test. This is so because, they need to know that taking a drug test is relevant to them and to the state in several ways as it will be mentioned later. Paper's Scope and Major Sections There are different issues affecting the policy of drug test. As mentioned above, some critics claim that it is going to employees discriminate those who benefit from the government. They also claim that the state will be intruding into is citizens privacy. Could this be an escape goat to hide from the law? It is evident that the use of drugs in the US is illegal. According to (Sanders, 2012), this is one of the great moves of the state of prevent drug users from accessing the states’ financial help. It is a way of preventing drug users and traffickers from accessing state funds that after they have served their jail term as convicts. Drug testing policy has already been passed in some States including Florida, and at least 10% of its employees are tested in every three months. The American civil Liberties Union sued Scott for violating the constitution by victims being searched without being suspected. It is the only way to check if people who get state benefits deserve it. Assignment 3 (100 Points) Research method As it sinks deeper into discovery, this paper will analyze critical reasons why drug test is paramount. It  also analyzes the validity of the claims made by its opponent after which it will draw its conclusion. Benefits of this program The society has been fighting drug

Marketing strategy implementation Essay Example | Topics and Well Written Essays - 1500 words

Marketing strategy implementation - Essay Example Since the products are intended to be high end, they will not be priced lowly in a manner to comprise this fact. On the contrary, under pricing will raise doubts among the consumers as to the quality of the products (Kotler & Keller, 2006). The promotion strategy will justify the cost. It will make the customers appreciate that they are getting what they are spending their money on. The rationale of this strategy is based on the intended themes of the advertisements. The themes of the commercials will not concentrate on areas like how long lasting or portable the products are. Instead, they will be designed to create a picture of ownership experience and appeal to the status of using such products. This will have the effect of reducing comparison with the competition’s products (Laermer & Simmons, 2007). A generic product-market comprises an extensive collection of products which fulfill a general, nonetheless similar, need (Kotler & Keller, 2006). The product-market boundaries will first be distinguished by identifying particular needs that a range of products will satisfy. Although customers may have the same needs, they will not always satisfy them in the same way. Therefore, product-markets are often diverse and contain different user groups with different categories of related products (Kotler & Keller, 2006). The product-market will match the customers to the benefits of the products. It will be formed by a set of products that may be substitutes in usage situations similar to the models of benefits sought by different groups of customers. The boundaries will then be distinguished by categories of products that satisfy generic needs and the targeted customers (Kotler & Keller, 2006). The products are closely related because the customers regard them as substitutes and the fact ors and elements used in production are similar. For example, two cosmetic gels in the same product line may differ in that one irritates the skin, and the other

OPERATIONS MANAGEMENT- COURSEWORK Essay Example | Topics and Well Written Essays - 2000 words

OPERATIONS MANAGEMENT- COURSEWORK - Essay Example The chief success story of Zara lies in strategies undertaken by the company. The corporate strategies had helped the company to grow faster with creative, flexible and innovative business model. The business model has differentiated the company from rest of the companies in the same industry. It has provided Zara with the best competitive advantage, both at international and local level (Berfield and Baigorri, 2013). Zara had regarded its target market as a â€Å"young educated one that likes fashion and is sensitive of fashion† (Wiggin, 2013). The company emphasizes on achieving competitive advantage over their rivals by integrating the manufacturing, production, logistics and customer handling staffs. The main activities, that escalate the speed of manufacturing and the supply chain, is the time taken to deliver Zara’s clothing from the manufacturing site (Hansen, 2012) 1) They regard customers as the centre of every clothing design strategy. Customers are questioned about their preferred clothing designs. The sales team of Zara makes use of the hand-held PDA devices for capturing the daily and even hourly feedback from customers, which enables them to ideate new clothing designs. The device daily transfers design to the Research and Development section, which is known as Cube (Valerio, 2013). The Cube team makes new clothing pieces in just two weeks and those match the exact needs of customers. The business strategy of Zara is clear; if a company has to succeed in the long run in a competitive market, then it has to be customer-centric. The needs and desires of customers are taken into account, so that the company can cater to their needs in the exact manner that they look for (Ferdows, Lewis and Machuca, 2003). 2) The company concentrates on technology for managing and tracking inventory and also, controlling cost. The sales associates send daily reports to the management, regarding

A-Exploring the Influence of Modern Electronic Games Research Paper - 1

A-Exploring the Influence of Modern Electronic Games - Research Paper Example From my point of view, I think the most influential games include Final Fantasy, Mario Brothers, Grand Theft Auto and World of Warcraft.Video games are impacted by our culture through the promotion of family game night. This is done through the families having quality time for fun. Also, for educational purposes, learning which uses educational tools is encouraged. All types of academic disciplines are tested; reading skills, English skills and skills of mathematics (Favaro, 1982, p.19)). Moreover, video games are created basing on the reality of life. Therefore, through the gaming world, normal life activities like being rich, being a policeman, being a fighter among others are depicted. Lastly, through the growth and evolution of video gaming industry, there was growth for video games indicating that video games are positively impacted by our culture. For minimization of negative effects to our culture, I believe that gaming industry has to ensure that reduction of violent content and sexual content is adhered to. In my opinion, many games which are meant for mature people are viewed by children hence the need to minimize on sexual content and violence content video games. Several games have violence content and sexual content which affect the girl child and boy child in the society; the girl child is more affected than boy child through video games. Also, more family-friendly games should be aired thus encouraging many people to watch the video games. Lastly, producers should engage in minimizing negative effects of media and maximizing positive effects of media through the production of age-appropriate programs which are designed well (Griffiths, 1991a, p.312). The most controversial issue I have discovered is violence. Violence is portrayed as the most controversial issue in video games although other controversial issues exist such as that of Grand Theft Auto.  

Company Law Essay Example | Topics and Well Written Essays - 1500 words - 5

Company Law - Essay Example A client and an auditor are usually in a contractual relationship thus meaning that the two parties are in agreement. The auditor thus have to perform their share of bargain carefully and appropriately as stipulated in the contract. If the auditor does not conform to the contract terms, the client can decide to sue based on the rounds of breach of contract. According Lacy, a client can sue the auditor first, due to the failure to accomplish specific performance, secondly, in the case where there is general monetary costs and damages for losses incurred due to the breach of that contract and lastly, any other consequential damages that as a result of negligence, have occurred (2002, p.78). Therefore, basing from these factors, Benard being the auditor of NASDAQ Composites Plc is highly liable. During auditing, before partaking any work for a client, the auditor or accountant should ensure that the particular duties to be executed, and in precise if there is need for any important matters to be excluded, have been discussed and harmoniously agreed with the client usually through written word or through a letter of engagement or otherwise (Delaney & Whittington 2010, p. 135). This therefore implies that before any of the undertakings is assumed, there is need for the auditor to ensure that there is special written evidence. In Re Thomas Gerrard & Son Ltd (1968) UK, the company’s auditors learned that there were various alteration to some of the invoice dates of the company. The company’s auditors then referred and consulted with the managing director of this corporation and accepted the director’s explanation although they did not scrutinize the statements of the related suppliers. As a result, there were loss of money to the company and it was thus ruled out that the auditors had breached their duty required by the company at the instance when they failed critically to examine the statements. The facts of the

Should the UK remain in the E.U Essay Example | Topics and Well Written Essays - 2000 words

Should the UK remain in the E.U - Essay Example The UK joined European Union in 1973, and has remained skeptical of the common currency that has now threatened the competitiveness of EU economy due to the high sovereign debts of the member states (Pilkington, 2001). UK has sought to exert more influence within the EU with not avail and citizens have mixed reactions of whether the UK should leave the EU or continue with its memberships even after British Prime Minister rejected the fiscal compact designed to save the future of EU (Pilkington, 2001). On the other hand, those in favor for continued membership in EU assert that countries like Norway and Switzerland still abide by the EU rules without any influence on their formation. David Cameron is of the opinion that UK has participated in EU trade rules formation and thus leaving the EU will allow other countries to dictate the trade rules on UK without capacity to participate in writing the rules. Thesis statement: the costs of UK’s membership in EU far outweighs the benef its and it is time to leave the EU. Those in favor of UK leaving the EU assert that 90 percent of UK trade does not depend on EU yet the country is bound by EU rules on trade. In this case, UK depends on small and medium enterprises for its job creation and economic growth and this sector should be freed from EU regulations (Newman, Sather & Woolgar, 2013). Bilateral trade agreements with emerging economies such as India, Brazil and China is possible through the World Trade Organisation and thus UK will be capable of enjoying cheaper imports due to favorable and low tariffs associated with the bilateral trade arrangements especially in the food sector (Pilkington, 2001). The current eurozone crisis are expected to continue for the next decade and European Central Bank will be called upon to bail out some of the member states from the sovereign debt crisis. The UK is excluded from the euro meaning that it is less vulnerable

Views against suicide Essay Example for Free

Views against suicide Essay Jessie mothers remarks to commit suicide is to accept the logic of the absurd but in some small way to triumph over it. (p. 24) Psychiatrists believe that committing suicide is self-abuse and self-murder (masturbation and suicide). Both behaviors became the bogeys of the psychoanalysts as well. In 1910, Freud concluded the first essay in which he specifically addressed the subject of suicide with these words: Let us suspend our judgment till experience has solved this problem. (Freud, 1910). What is the problem? It was know[ing] how it becomes possible for the extraordinarily powerful life instinct to be overcome. In 1917, Freud announced his famous solution self-murder is aggression turned against the self: [N]o neurotic harbors thoughts of suicide which he has not turned back upon himself from murderous impulses against others (Freud, 1917). Freuds far-reaching generalization is a sobering reminder of the influential influence of the religious-psychiatric tradition: He treats suicide as if it were a unitary occurrence. David Hume (1711-1776) would wholly disagree with Jessie, arguing that suicide is not contrary to love of self, of neighbor, or of God. Hume claimed that even assuming the truth of Aquinass theism, one requirement of not preclude suicide from being rational and moral. That is, if it is consistently permissible to encroach on divine providence by disturbing the operations of diverse natural laws (by curing diseases and the like), then, by parity of reasoning, it ought to be similarly permissible to commit suicide. Moreover, couldnt a person commit suicide while expressing gratitude to God for the good she has enjoyed and for the ability to escape her current misery? After all, Aquinas allowed self-inflicted killings when one is divinely commanded to do so! Hume, a known skeptic on religious matters, is being ever so ironical and sardonic in his essay. When I fall upon my own sword, therefore I receive my death equally from the hands of the deity as if it had proceeded from a lion, a precipice, or a fever. There is no being which possesses any power or faculty, that it receives not from its Creator, nor is there any one, which by ever so irregular an action, can encroach upon the plan of his providence, or disorder the universe. Its operations are his works equally with that chain of events which it invades; and whichever principle prevails, we may for that very reason conclude it to be most favored by him (Hume, 1783). Moreover, Ecclesiastic law still forbids suicide, and religious penalties against the act are, nominally, still in force. However, as soon as secular law recognized insanity as an excuse for suicide, so, too, did canon law. For approximately the past century, rabbinic and church authorities alike have classified suicides as ipso facto non compos, permitting them to receive normal religious burial services. The Encyclopedia of the Jewish Religion states: Judaism does not consider the individual as the owner or unlimited master of his own life; consequently, suicide, which amounts in rabbinic thought to murder, is strictly forbidden. . . . However, recent rabbinic ruling considers the suicide as being of unsound mind, and as such he is allowed to be interned [sic] with others. (R. J. Z. Werblowsky and G. Wigoder, p. 367). The Roman Catholic Church and the Protestant clergy use the same formula for annulling the sinfulness of suicide. After a well-known Catholic American killed himself and was given an elaborate burial, a spokesman explained: Today it is the churchs feeling that a person must be crazy to commit suicide. And we place the insane in the hands of God, for his mercy and his judgment. . . . The church will not judge [him]. (San Francisco Chronicle, 22 October 1983, p. 3) Roman law expanded the criteria that made suicide morally acceptable. For example, tedium vitae a mental state we are likely to call depression, but is better rendered as having had enough (of life) -was a justification for it (A. J.L. van Hoof, p. 122). However, Roman law prohibited the suicide of slaves, because they destroyed not themselves but their masters property; and of defendants accused of crime, because their deed prevented the law from determining whether they were guilty or not. If their deed was interpreted as signifying guilt, the law required that their corpse be denied ritual burial and their property be confiscated. Christian canon law adopted the practice of denying religious burial to the suicides corpse, and medieval English criminal law reinstated the penalty of forfeiting the suicides property (A.J. L. van Hoof, p. 16). Views for suicide Jessie claims the decision to be a rational one, a logical conclusion to a life that has lost its true meaning; there are disturbing glimpses of another motivation. To begin with she is on medication, which has given her an apparent sense of clarity and equanimity. If she is herself, then, she is so by virtue of chemical intervention, though there are hints of an obsessive behavior not touched by her medicine. She has a notepad in her pocket which contains a checklist, a countdown to annihilation. She is, she explains, cold all the time, and longs for the dark and quiet of death, a place where nobody can get me †¦ Dead is everybody and everything I ever knew, gone. Dead is dead quiet (night Mother, p. 16). She likens herself to Jesus, whom she suddenly perceives as a suicide (I didnt know I thought that) (p. 17). Though, well known philosopher may agree with Jessie as Margolis takes suicide to be essentially a matter of choosing death for its own sake. In the case of genuine suicide, according to Margolis, the victims overriding concern is to end his own life. (1975) Moreover, Immanuel Kant claims that the exercise of freedom in self-destruction is self-contradictory. He seems to favor, however, the moral heroism of Cato (a Roman statesman who killed himself rather than surrender to Julius Caesar), but does not label it a suicide, since Cato was presumably attempting to rescue his personal integrity and not intending to destroy himself. That is, despite his antisuicide stance, Kant claims that there are times when life ought to be sacrificed. If I cannot preserve my life except by violating my duties towards myself, I am bound to sacrifice my life rather than violate these duties. He views humanity in ones own person as inviolable. Suicide, by contrast, treats our personhood as a thing; it reduces us to the stage of a beast. Persons, for Kant, are ends-in-themselves, having the capability for autonomy and rationality that comprise their humanity. Jessie suicidal act goes with Kant view of life. According to him, Life is not more important than virtue. To live is not a necessity; but to live honorably while life lasts is a necessity. Kant maintains that the fabric of society is destabilized by those who advocate a right to suicide and romanticize it somewhat in the progression. Nonetheless, pace his categorical imperative, it seems suicide can be universalized on Kantian grounds, e. g. , anyone whose situation in life is such that his or her continued existence would cause others a greater amount of suffering than his or her suicide must commit suicide. Conclusion According to the sources discuss, it can be said that argument against suicide are more powerful and it is definitely goes against Jesse’s suicide. Jessie chooses to shoot herself with her fathers gun, and if not with that then with her husbands. These were the two men she loved, the two men who might have saved her had they not left, derelict her in their different ways. There is no irony in the choice. The man who saw her into life, and perhaps tainted her blood with the seeds of epilepsy, now ushers her out. At the same time, Thelma, apparently disengaged, separated from her daughter by a sense of guilt and mutual incomprehension, and finds herself deeply committed to saving her. While her mother philosophy was Things happen. You do what you can about them and see what happens next (p. 39) is not without its logic or ethics. Moments before her daughters death, indeed, this woman, who until now has appeared content to drift through life, unquestioningly, can be explained as nearly unconscious from the emotional devastation †¦ so far beyond what is known as pain that she is virtually unreachable'(p.52). For the first time in her life she knows what she is living for and though she will be frustrated in her attempts to save Jessie, Jessie, perhaps, may have saved her in so far as she has lured her back into the world. Work Cited Catholic Church Says It Wont Judge White, San Francisco Chronicle, 22 October 1983, p. 3. A. J. L. van Hoof, From Autothanasia to Suicide, (London: Rutledge, 1990) p. 122. Freud, Contributions to a Discussion on Suicide (1910), in SE [Standard Edition], vol. 11, p. 232. Essays on Suicide, and the Immortality of the Soul, ascribed to the late David Hume, Esq. â€Å"Two Letters on Suicide†, from Rosseaus [sic] Eloisa (1783) Freud, Mourning and Melancholia (1917), SE, vol. 14, p. 252 Joseph Margolis, Negativities: The Limits of Life (Columbus, 1975), pp. 23-36. Marsha Norman, night Mother (New York, 1983). R. J. Z. Werblowsky and G. Wigoder, eds. , The Encyclopedia of the Jewish Religion, p. 367. Richard B. Brandt, The Morality and Rationality of Suicide, in Handbook for the Study of Suicide, edited by Seymour Perlin, pp 61-76, 1975. U S. News and World Report (April 9, 1984): 18.

Professional values and ethics

Professional values and ethics Professional Values and Ethics Values and ethics are the cornerstone for both personal and professional success. The way an individual or group interacts with others exposes their genuine character because actions speak louder than words. Those with a strong values system and ethical standards of the highest degree are easily recognizable by their deeds and are intrinsically motivated to do the right thing, even when no one is watching. Values and ethics generally originate and grow from the same sources, family, spiritual beliefs, and school; professional values and ethics are mere extensions of what one learns prior to joining the work force. Therefore, the things one learns early in life follow into the professional world and have a positive, or negative, impact on career success. Values and Ethics Defined Values Before delving into the world of professional, or personal for that matter, values, one must first know exactly what a value is or values are. A value is, according to Ozmete(2007),â€Å"an enduring belief that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence† (p. 1). Furthermore, a value system is all these beliefs placed and utilized in order of precedence, serving as a guide for everything from decision making to conflict resolution. What one values provides answers to questions like, if one was stranded on a deserted island, what three things would he or she want to have? Professional values are basically the same as described above but in the context of a corporation, organization, or group and what they would like their desired end-state to be. The professional value system of group entities is revealed in their business practices; from their interaction with other companies to how well taken care of the employees are. Whether or not a business plays by the rules, win or lose, speaks volumes about the company and, more importantly, the people who work there. Ethics Ethics are usually described in relation to values, as they are the moral philosophy and implementation of ones values. Personal or professional ethical codes give the ability to recognize what is right, fair, honorable and righteous. Corporations and businesses have published codes of ethics by which they conduct business. The code of ethics sets forth the standards to which employees are expected to abide and will be held accountable. Far too many companies have failed not because they did not have ethical standards, but because they did not enforce them. It is incumbent upon every employee to ensure they familiarize themselves with their employers ethical code of conduct for the benefit of the employee and employer alike. Sources of Values and Ethics Family One source of professional values and ethics are parents or guardians. Ever since one can remember, one of the first places where values are taught is at home. Parents teach their children right from wrong, not to lie or steal, and may introduce them to a particular religion where values are reinforced. These are the values that stay with someone forever; not only does the individual use these values as guidelines in their lives, but they also teach their children the same values.   Besides moral values, families teach their children work ethic. They give children small chores to do, such as cleaning their room, taking out the trash, and general helping around the house.   If they complete the tasks in a timely fashion, they receive money for helping. These small jobs not only show children the value of earning money, but also show them that hard work is rewarded. School Another source of values and ethics is school. Children learn they must be on time, complete their homework, and study hard to earn good grades. Just as with chores and allowances at home, schoolwork teaches that by studying and working hard, one can achieve good grades and get into good high schools and universities. Being on time for school each day is the beginning of ones time management skills. Not only do they learn the importance of punctuality, but budgeting their after school activities, family time, and homework time teaches one to prioritize what he or she values. Conversely, one learns that there are consequences for not implementing his or her values, like detention or bad grades. The repercussions could be detrimental, with long-lasting effects such as limited college choices and in turn, limited professional choices. Professional Environment No matter the career one chooses, the values and ethical standards instilled as a youth will guide ones professional decisions, good or bad. Most corporations, companies or associations have a written set of values or ethical guidelines by which all are held accountable. The American Psychological Association focuses on five principles of ethical behavior. The first principle is Beneficence and Nonmaleficence, which states, â€Å"In their professional actions, psychologists seek to safeguard the welfare and rights of those with whom they interact professionally and other affected persons, and the welfare of animal subjects of research† (American Psychological Association, 2002, p. 3). The next principle is Fidelity and Responsibility, which reads, â€Å"Psychologists uphold professional standards of conduct, clarify their professional roles and obligations, accept appropriate responsibility for their behavior, and seek to manage conflicts of interest that could lead to exploi tation or harm† (American Psychological Association, 2002, p. 3). Integrity is the third principle stating, â€Å"Psychologists seek to promote accuracy, honesty, and truthfulness in the science, teaching, and practice of psychology. In these activities psychologists do not steal, cheat, or engage in fraud, subterfuge, or intentional misrepresentation of fact† (American Psychological Association, 2002, p. 3). The fourth principle deals with Justice and reads, â€Å"Psychologists recognize that fairness and justice entitle all persons to access to and benefit from the contributions of psychology and to equal quality in the processes, procedures, and services being conducted by psychologists† (American Psychological Association, 2002, p. 3). The final principle is based on Respect for Peoples Rights and Dignity, and states, â€Å"Psychologists respect the dignity and worth of all people, and the rights of individuals to privacy, confidentiality, and self-determina tion† (American Psychological Association, 2002, p. 4). The preceding guidelines are what many were taught as children; do not harm others, take responsibility for your actions, be honest and trustworthy, impart fairness, equality, and respect to all. Each is applicable, and most useful, throughout life and all are qualities of a civil society. Applying Professional Values and Ethics Not everyone, however, was raised with the same values and ethical standards. While some were taught to value the â€Å"Golden Rule†, others learned to value money, possessions and status over all else. Bernie Madoff is an excellent example. He swindled investors out of an estimated fifty billion dollars in a Ponzi scheme that lasted for years. Unscrupulously, he promised clients massive returns on their investments, which for some was their entire life savings. A judge recently sentenced him to over 100 years in prison and deservedly so; but the money, and consequently, many retirement funds and livelihoods are gone (Henriques, 2009). The Ponzi scheme mentioned above is named after its originator, Charles Ponzi. He was an Italian immigrant who, in the 1920s, deceived people to invest in mail coupons and promised returns eight times what banks were offering and in far less time. Even then, Ponzi received millions from investors looking to make quick, and large, sums of money. To establish legitimacy, Ponzi paid some of the earliest investors what he promised. Millions of dollars later, it turned out he was a conman and had only purchased less than fifty dollars worth of the investment he sold. He also went to prison (U.S. Securities and Exchange Commission,2001). Clearly, what these men valued was personal gain and money. Neither had any ethical standards and both preyed on other peoples value of getting rich quickly. Although these are extraordinary examples, the relative impact on ones career success from not applying good moral values and ethics could be just as damaging. Professional values and ethics are mere extensions of the values and ethics learned from family, spiritual leaders and teachers. What one is taught to value growing up will carry over in the professional world. Professionals with upstanding values and ethical standards are easy to identify, as is the company that employs them. Values based business decisions and ethical guidelines adhered to by all are the benchmark for success. Those who accept less can have a detrimental impact on their company and maybe, the rest of society.

Social Unrest :: essays research papers

'All we lack is the will- the will to see that the greatest threat is not change, but our continued resistance to it.'; These words, expressed by the late, Senator Edward Kennedy, display perfectly how our society is reluctant to change when a change is needed. Any change or variation, be it in education, personal attitudes, or traditions can be difficult to achieve. One specific area of our society that is disinclined to change is the social unrest that plagues public schools. The results of this unrest come in the forms of emotional instability for students that may or may not lead to murder.   Ã‚  Ã‚  Ã‚  Ã‚  Social unrest is happening in all schools across the United States. We hear about it on the news. We read about it in newspapers and in magazines. But what exactly are we hearing and reading about it? We are witnessing the results of this constant 'social unrest'; in schools. What are these results? Homicide and suicide. What scares most people and even myself, is that this could happen at any time, any place. Even Little Falls, New York. All too often seemingly normal, everyday students are violently venting their anger on their fellow classmates. They take the lives of other students, their own, and leave in the wake of their madness, emotional trauma for those who witness it. The real question is, however, why are they so angry? The answer to this lies in school hallways and cafeterias. Students in high school and even middle school, are 'bullied'; by other students, mainly your typical 'jock';, to the point where they simply cannot stand to go to school and be picked on. So what do they do? They come to school armed with automatic weapons, sawed off shotguns, and knives ready to take matters into their own hands. This has happened all too often and is becoming a part of our everyday life.   Ã‚  Ã‚  Ã‚  Ã‚  In most cases, the students who decide to do a thing like this, are considered outcasts or 'Goths'; by other students. These are the kids who do not conform to a certain group. Who choose to go their own route, and seemingly suffer for it. This is one aspect of public schools that will always be present and one problem that cannot be stopped, only contained. A good example of a child who has the makings of one of these students, is Stephen, a young student in the short story, 'Stephen';, written by Jonathan Kozol.

The Rime Of The Ancient Mariner :: essays research papers

In Samuel Taylor Coleridge's poem The Rime of the Ancient Mariner, the author uses the story of a sailor and his adventures to reveal aspects of life. This tale follows the Mariner and his crew as they travel between the equator and the south pole, and then back to England. The author's use of symbolism lends the work to adults as a complex web of representation, rather than a children's book about a sailor.First, in the poem, the ship symbolizes the body of man. The ship experiences trials and tribulations just as a real person does. Its carrying the Mariner (symbolizing the individual soul) and crew shows that Coleridge saw the body as a mere vessel of the soul. This symbol of a boat is an especially powerful one, because one steers a ship to an extent, yet its fate lies in the hands of the winds and currents.Secondly, the albatross symbolizes Christ. Just as the Mariner senselessly slays the bird, man crucifies Christ whose perfection is unchallenged. Even though Christ represent s mankind's one chance at achieving Heaven, man continues to persecute Him. The albatross symbolizes the sailors' one chance at deliverance from icy death and the Mariner shoots him.Thirdly, the South Pole symbolizes Hell. No visible wind blows the unfortunate crew toward the South Pole. Rather, an unseen force pulls them there. Such is the case when the world's temptations lure one to Hell. Just as the sailors approach far to close to this icy purgatory, their Redeemer, the albatross, or at least his spirit, leads them safely back in the right direction.Fourthly, in the poem England symbolizes Heaven. When the Mariner first sees his country, a great sense of hope and joy overcome him. At the point when the Mariner is about to enter Heaven, the body, symbolized by the ship, must die.

The Change from Idealism to Realism In the Process of Growing Up In Bot

Introduction: In both Northanger Abbey and Sense and Sensibility, Jane Austen uses the concept of idealism in contrast with realism to elicit the theme of growing up and the effect it has on the characters’ points of view. This theme is most evident in the female protagonists-- Marianne Dashwood in Sense and Sensibility, and Catherine Morland in Northanger Abbey. Although both characters hold an ideal world in their minds, their personalities differ enormously. While Marianne imagines the world to be perfect and romantic, Catherine lives as a heroine and is constantly on the search for frightening scenes. However, despite this major difference, both protagonists go through memorable life experiences and eventually develop their perception from idealism to realism. In other words, although they possess different personalities, both Marianne and Catherine go through similar experiences of maturing from girls with fantasies to women who are forced to face reality. This then further leads int o the question, what is the effect of growth on a person’s mentality? Marianne Dashwood’s idealism: The Dashwood family has three daughters-- Elinor, Marianne, and Margaret. Among the three, Elinor, the eldest, represents sense as she has â€Å"an excellent heart; her disposition affectionate, and her feelings [are] strong: but she [knows] how to govern them† (Austen 6). In contrast, the second youngest sister Marianne is the representation of sensibility as she is â€Å"sensible and clever, but eager in everything,† she is also â€Å"generous, amiable, interesting†¦ everything but prudent† (Austen 6). After the death of their father, all of Mrs. Dashwood’s estate is taken away by the oldest male in the family, Henry Dashwood. While Elinor and her mother... ...earn from our mistakes-- that is how we grow. In Jane Austen’s novels, Marianne and Catherine are the definition of maturing. As the stories in both progress, Marianne and Catherine learn to take on new challenges and overcome new obstacles. Although there might be heartbreaking moments in their process of growing up, both characters eventually reach their moment of realization and decide to take off their goggles of idealism so to view the world better with the sight of realism. Is not this what life is all about? Living while trying to find a better definition for â€Å"living† and to find a better interpretation of the world we live in? Works Cited Austen, J. (2005). Northanger Abbey. New York City: Barnes & Noble Classics. (Original work published 1818) Austen, J. (1995). Sense and Sensibility. New York City: Dover Publications. (Original work published 1811)

The Functions of Diplomacy Essay

Diplomacy has existed since the beginning of the human race. The act of conducting negotiations between two persons, or two nations at a large scope is essential to the upkeep of international affairs. Among the many functions of diplomacy, some include preventing war and violence, and fortifying relations between two nations. Diplomacy is most importantly used to complete a specific agenda. Therefore without diplomacy, much of the world’s affairs would be abolished, international organizations would not exist, and above all the world would be at a constant state of war. It is for diplomacy that certain countries can exist in harmony. There has not been a documented start of diplomacy; however there have been instances ranging back to the 5th century where diplomacy arose in certain nations. Dating back to 432 B.C, the Congress of Sparta was an â€Å"illustration of diplomacy as organized by the Greek City States† (Nicolson 1). The origin of the word â€Å"diploma† comes from different sides of the earth. In Greece diploma meant â€Å"folded in two†, while in Ancient Rome the word was used to describe travel documents. Often times the word diplomacy is given many meanings. Many times will the words â€Å"policy† and the word â€Å"negotiation† be seen as synonyms; hence the word â€Å"diplomacy† and â€Å"foreign diplomacy† are deemed to be similar (Nicolson 3). These â€Å"synonyms† of diplomacy are all faulty. While they may be very similar in some cases, they are not the exactly the same. Sir Harold Nicolson who was an English Diplomat born in Tehran, Persia, states that: â€Å"Diplomacy is neither the invention nor the pastime of some particular political system, but is an essential element in any reasonable relation between man and man and between nation and nation† (Nicolson 4). For the upkeep of the International System, diplomacy is used in every corner of the world. Without it many nations would not be able to conduct successful negotiations. While many are not able to find a clear beginning or creation of diplomacy, modern diplomacy has become much more advanced and many aspects have changed over the years. The Peace of Westphalia in 1648 created the first modern diplomatic congress in addition to creating a new world order in central Europe based on state sovereignty. Much of Europe began to change after the introduction of modern diplomacy. For example, â€Å"France under Cardinal Richelieu introduced the modern approach  to international relations, based on the nation-state and motivated by national interest as its ultimate purpose† (Kissinger 17). The New World Order began to bloom in all of Central and Western Europe. Great Britain argued for the â€Å"balance of power† which kept European diplomacy alive for the next 200 years (Kissinger 17). Every country in Europe contributed a little to the diplomacy the world has today. The balance of powers theory that many famous realists such as Francsesco Sforza, Machiavelli, and Guiciardini argued was and still is an essential component of modern diplomacy. Many could argue that diplomacy is a product of society and history itself. As countries progress different aspects are added to diplomacy. Separation of powers, national interest, and a country’s sovereignty are only a few elements that were added to modern diplomatic history. Therefore, diplomacy can be seen as an ever-changing concept, the same way International Relations between countries fluctuate. Author of The Pure Concept of Diplomacy Josà © Calvet De Magalhà £es stated that â€Å"continuity of the diplomatic institution throughout thousands of years and in all known civilizations shows that diplomacy is an institution inherent to international life itself, one that may undergo transformations or may be used with more or less intensity, but cannot be dispensed with† (Szykman). As Henry Kissinger states â€Å"By pursuing its own selfish interests, each state [is] presumed to contribute to progress, as if some unseen hand were guaranteeing that freedom of choice for eac state assured well-being for all† (Kissinger 22), In the course of all diplomatic history â€Å"[†¦] no country has influenced international relations as decisively and at the same time as ambivalently as the United States. No society, has more firmly insisted on the inadmissibility of intervention in the domestic affairs of other states, or more passionately asserted that its own values w ere universally applicable. No nation has been more pragmatic in the day-to-day conduct of its diplomacy, or more ideological in the pursuit of its history moral convictions. No country has been more reluctant to engage itself abroad even while undertaking alliances and commitments of unprecedented reach and scope† (Kissinger 18). The United States headstrong tendencies to succeed have made it one of the most influential countries in the course of diplomacy. â€Å"The most famous of all peace proposals following World War I was the program of Fourteen Points, delivered by President Woodrow Wilson in  1918† (Szykman). Most can argue that without the United States, much of modern diplomacy would be gone. There are in fact many functions of diplomacy that make diplomacy an essential ingredient for any peaceful and efficient change. The reason to negotiate with other persons has always been the same, to have better relations. Over the course of diplomacy being in existence, the structure of diplomatic posts has changed from a loose one to an organized institution made for a specific purpose. While the structure of diplomatic posts has changed, the functions always remained the same. There are four functions of diplomacy. The first function involves â€Å"representing a state’s interests and conducting negotiations or discussions designed to identify common interests as well as areas of disagreement between the parties, for the purpose of achieving the state’s goals and avoiding conflict† (Ameri 1). Representations of a state as well as negotiation are the most important functions of diplomacy. Negotiations between two representatives are a key component in diplomacy, because in doing so the representatives find a common interest. Finding a common interest is vital in conducting negotiations because with a common interest representatives are able to devise a solution that is in the interest of both sides. G.R. Berridge that negotiation â€Å"can produce the advantages obtainable from the cooperative pursuit of common interests; and it is only this ac tivity that can prevent violence from being employed to settle remaining arguments over conflicting ones† (Berridge 1). The second function of diplomacy involves â€Å"the gathering of information and subsequent identification and evaluation of the receiving state’s foreign policy goals† (Ameri 1). Diplomatic posts are concerned with gathering information; however when the information is sent back to their native country a Foreign Ministry analyzes the data and determines what foreign policy should be enacted. Political leaders choose what path is right for their country then. The third major function of diplomacy is expansion of political, economic, and cultural ties between two countries (Ameri 2). For example, after WWII countries such as the United States and Britain aimed their foreign policy at the extermination of communism. In present day, the United States State Department engages international audiences to speak about politics, security, and their values to help create an environment receptive to US national interests. In addition, â€Å"the State Department annually sponsors more than 40,000  educational and cultural exchanges† (Diplomacy). Finally, the fourth function of diplomacy is that â€Å"diplomacy is the facilitating or enforcing vehicle for the observation of international law† (Ameri 2). It is the diplomat’s job to promote the country’s national interests and keep ties with other countries open. The emphasis put on diplomacy is not just dominant in today’s world, however it was a developing concept in the Renaissance as well. Great thinkers such as Machiavelli, Guicciardini, Grotius, Richelieu, Wicquefort, Satow, Nicolson, and Kissinger had a profound impact on diplomacy. For Machiavelli diplomacy was a tool of deception to grant more power to the state (Beridge 24). Machiavelli’s impact on leaders was a major one because he argued for leaders to be headstrong as well as reserved. Guicciardini promoted the upkeep of good relations; to be careful with whom one deals with and that reputation is key in a negotiation (Berridge 43). His contribution to diplomacy was that diplomati c posts are given to people who can be trusted and can promote their country’s state interests. What these great thinkers contributed to diplomacy was immense. All of them contributed a different element to the ever-growing concept of diplomacy. Since the subject of diplomacy is always growing and changing, it can be said that because of its vast effect on the world, everybody needs diplomacy to survive. It has become such a vital part of everyone’s life that is indirectly becoming a trait for survival. Throughout the course of history diplomacy has been a paramount element in the upkeep of peace and in the creation of positive change. Without diplomacy much of the world’s affairs would not exist. There are many examples of how diplomacy has affected countries, and even individual citizens. An example of how negotiation positively can affect someone is Clinton’s negotiation with Kim Jung Il in North Korea. Their peaceful negotiation resulted in the release of two American citizens. An example of how power can corrupt diplomacy is Libya and Switzerland. With the introduction of power, in other words oil, countries such as Libya with the leader Ghaddafi are able to have a stronger presence in the world and say things that can normally not be said. Power corrupts, however diplomacy seeks to rid corruption and reinforce the international system as well as international law. It is for diplomacy that international organizations can exist. In a diplomatic way, an international organization is merely a many  members finding a common ground on a particular subject. In the United Nations for example, all the members try to find a common interest for positive change. Although it is sometimes perceived to be slow change, the method of diplomacy causes fewer casualties than any other one. If diplomacy were not in existence, international organizations would not exist. The world would be at a constant state of war, and war would in fact never end because they normally end with diplomatic negotiations. Selected Bibliography Adam, Watson,. Diplomacy the dialogue between states. New York: McGraw-Hill Book Co., 1983. Berridge, G. R. Diplomatic Theory From Machievelli to Kissinger. New York: Palgrave, 2001. â€Å"Diplomacy – The U.S. Department of State at Work.† U.S. Department of State. Bureau of Public Affairs, June 2008. Web. 2 Sept. 2009. . Eban, Abba Solomon. New diplomacy international affairs in the modern age. New York: Random House, 1983. Kissinger, Henry. Diplomacy (A Touchstone Book). New York: Simon & Schuster, 1995. Kwong, Maj Tang Mun. â€Å"The Roles of Diplomacy and Deterrence in the 21 st Century.† Journal V27 N1 Jan-Mar (2001). Newsom, David D. Diplomacy under a Foreign Flag – When Nations break Relations. Washington DC: Institute for the Study of Diplomacy,1991. Nicolson, Harold. Diplomacy. Oxford: Oxford University Press, 1977. Satow, Ernest M. A guide to diplomatic practice. London: Longmans, 1932. Written by: Christopher Amacker

Smu Solved Assignments

MB0044 – Production & Operations Management Assignment set – 1 1. What are the components of systems productivity? Explain how CAD and CIM help in improving productivity. Production management encompasses all activities which go into conversion of a sate of inputs into outputs which are useful to meet human needs. It involves the identification of the perquisite materials, knowledge of the processes, and installation of equipments necessary to convert or transform the materials to products. System productivity is generally expressed as the ratio of outputs to inputs.Productivity can be calculated for a single operation, a functional unit, a department division or a plant. It is a measure of the efficiency of the system and looks at the economies achieved during the processes. Every process will have number of contributors-people machines, facilitating goods, ancillary equipments, technology, etc. Which help in achieving maximum productivity – each element attempt ing to enhance the contribution of other elements? Enhancement of productivity is achieved by either reducing the inputs for the same output or increasing the output by using the same input. Opportunities exist at all stages of the workflow.The entire system of introduce measures for increasing productivity. However in actual manufacturing situations, the inefficiencies will have cascading effect in hampering productivity. Communication, effective review processes and innovative methods will ensure optimization of resources. Capital productivity: Capital deployed in plant, machinery, buildings and the distribution system as well as working capital are components of the oust of manufacture and need to be productive. Demand fluctuations, uncertainties of production owing to breakdowns and inventories being crated drag the productivity down.Therefore, strategies are needed to maximize the utilization of the funds allotted towards capital. Adapting to new technologies, outsourcing and b alancing of the workstations to reduce the proportion of idle times on equipments are the focus of this section. Computers in design and manufacturing applications make it possible to remove much of the tedium and manual labor involved. For example, the many design specifications, blueprints, material lists, and other documents needed to build complex machines can require thousands of highly technical and accurate drawings and charts.If the engineers decide structural components need to be changed, all of these plans and drawings must be changed. Prior to CAD/CAM, human designers and draftspersons had to change them manually, a time consuming and error-prone process. When a CAD system is used, the computer can automatically evaluate and change all corresponding documents instantly. In addition, by using interactive graphics workstations, designers, engineers, and architects can create models or drawings, increase or decrease sizes, rotate or change them at will, and see results inst antly on screen.CAD is particularly valuable in space programs, where many unknown design variables are involved. Previously, engineers depended upon trial-and-error testing and modification, a time consuming and possibly life-threatening process. However, when aided by computer simulation and testing, a great deal of time, money, and possibly lives can be saved. Besides its use in the military, CAD is also used in civil aeronautics, automotive, and data processing industries. CAM, commonly utilized in conjunction with CAD, uses computers to communicate instructions to automated machinery.CAM techniques are especially suited for manufacturing plants, where tasks are repetitive, tedious, or dangerous for human workers. Computer integrated manufacturing (CIM), a term popularized by Joseph Harrington in 1975, is also known as Autofacturing. CIM is a programmable manufacturing method designed to link CAD, CAM, industrial robotics, and machine manufacturing using unattended processing wo rkstations. CIM offers uninterrupted operation from raw materials to finished product, with the added benefits of quality assurance and automated assembly. 2. What do you understand by ‘industry best practice’?Briefly explain different types of Benchmarking. Industry best practice: Each industry would have developed over years or decades. Materials would have changed, processes would have changed. As all products or services are meant to serve needs of the customers, they undergo continuous changes – both in shapes and features. Because of research that is conducted, materials and methods go on improve incessarily. The companies that were at the force innovate to stay in business as new entrants would be adopting the latest techniques that the pioneers had taken decades to establish.So the practices adopted by various firms in any industry would end up adopting almost similar methods of getting an output required. Such practices would get refined to great extent giving rise what we call industry best practices. These tend to get stabilized or changed owning to the development of new equipments which are designed and manufacturers of those with an eye on growing markets which demand higher quality and reduced prices. Competition benefits those who can use all these to their advantage. Industry best practices open up the field for benchmarking by companies which need to improve their performance.Bench Marking: It is a method of measuring a company’s processes, methods, procedures and in a way all functions in great detail. Benchmarking is used to understand how these got into the system and what circumstances brought them about. It is a learning process with a few to find out whether some of the reasons have changed and bring in new processes for improvement.. The metrics that could be used are – number of pieces per hour, cost per unit, number of breakdowns per week, customer alienation during a week, return on investment, numb er of returns from customers in a month, inventory turnover, and many others.As can be seen the figures as found above determine the efficiency of the organisation. To keep focused, many organizations, especially the large ones, select a few processes for purposes of benchmarking. This helps in ensuring constant and deep attention to those aspects which are to be dealt with. The following are the types of benchmarking firms consider. Types of benchmarking: †¢ Process benchmarking – the initiating firm focuses its observation and investigation of business processes with a goal of identifying and observing the best practices from one or more benchmark firms.Activity analysis will be required where the objective is to benchmark cost and efficiency; increasingly applied to back-office processes where outsourcing may be a consideration. †¢ Financial benchmarking – performing a financial analysis and comparing the results in an effort to assess your overall competi tiveness and productivity. †¢ Benchmarking from an investor perspective- extending the benchmarking universe to also compare to peer companies that can be considered alternative investment opportunities from the perspective of an investor. Performance benchmarking – allows the initiator firm to assess their competitive position by comparing products and services with those of target firms. †¢ Product benchmarking – the process of designing new products or upgrades to current ones. This process can sometimes involve reverse engineering which is taking apart competitors products to find strengths and weaknesses. †¢ Strategic benchmarking – involves observing how others compete. This type is usually not industry specific, meaning it is best to look at other industries. Functional benchmarking – a company will focus its benchmarking on a single function to improve the operation of that particular function. Complex functions such as Human Resour ces, Finance and Accounting and Information and Communication Technology are unlikely to be directly comparable in cost and efficiency terms and may need to be disaggregated into processes to make valid comparison. †¢ Best-in-class benchmarking – involves studying the leading competitor or the company that best carries out a specific function. Operational benchmarking – embraces everything from staffing and productivity to office flow and analysis of procedures performed. 3. List out the various automated systems for transfer of materials in the production plant. What do you understand by Line Balancing? Explain with an example. About the automated flow lines we can say it is a machine which is linked by a transfer system which moves the parts by using handling machines which are also automated, we have an automated flow line. Human intervention ma is needed to verify that the operations ate taking place according to standards.When these can be achieved with the h elp of automation and the processes are conducted with self regulation, we will have automated flow lines established. In fixed automation or hard automation, where one component is manufactured using services operations and machines it is possible to achieve this condition. We assume that product life cycles are sufficiently stable to interest heavily on the automate flow lines to achieve reduces cast per unit. Product layouts ate designed so that the assembly tasks are performed in the sequence they are designed at each station continuously.The finished item came out at the end of the line. In automated assembly lines the moving pallets move the materials from station to station and moving arms pick up parts, place them at specified place and system them by perusing, riveting, & crewing or even welding. Sensors will keep track of their activities and move the assembles to the next stage. The machines are arranged in a sequence to perform operations according to the technical requi rements. The tools are loaded, movements are effected, speeds controlled automatically without the need for worker’s involvement.The flexibility leads to better utilization of the equipments. It reduces the numbers of systems and rids in reduction of investment as well as a space needed to install them. One of the major cancers of modern manufacturing systems is to be able to respond to market demands which have uncertainties. Prototyping is a process by which a new product is developed in small number so as to determine the suitability of the materials, study the various methods of manufactured, type of machinery required and develop techniques to over come problems that my be encountered when full scale manufacture is undertaken.Prototypes do meet the specification of the component that enters a product and performance can be measured on these. It helps in con be reforming the design and any shortcomings can be rectified at low cost. Flexibility has three dimensions in the manufacturing field. They are variety, volume and time. There demands will have to be satisfied. In that sense they become constraints which restrict the maximization of productivity. Every business will have to meet the market demands of its various products in variety volumes of different time.Flexibility is also needed to be able to develop new products or make improvements in the products fast enough to cater to shifting marker needs. Manufacturing systems have flexibility built into them to enable organization meet global demand. You have understood how the latest trends in manufacturing when implemented help firms to stay a head in business. 4. Explain the different types of Quality Control Tools with examples? How do Crosby’s absolutes of quality differ from Deming’s principles?Quality Control (QC) is a system of routine technical activities, to measure and control the quality of the inventory as it is being developed. The QC system is designed to: Provide routi ne and consistent checks to ensure data integrity, correctness, and completeness; Identify and address errors and omissions; Document and archive inventory material and record all QC activities. The following seven are considered basic tools for achieving quality. Flow Chart Check sheet Histogram Pareto Analysis Scatter Diagram Control Chart Cause and Effect Diagram Flow Chart It is a visual representation of process showing the various steps.It helps in locating the points at which a problem exists or an improvement is possible. Detailed data can be collected, analyzed and methods for correction can be developed. A sample is shown below lists out the various steps or activities in a particular job. It classifies them as a procedure or a decision. Each decision point generates alternatives. Criteria and Consequences that go with decision are amenable to evaluation for purposes of assessing quality. The flow chart helps in pin-pointing the exact at which errors have crept in. A simpl e chart is shown below. Check SheetThese are used to record the number of defects, types of defects, locations at which they are occurring, times at which they are occurring, workmen by whom they are occurring. It keeps a record of the frequencies of occurrence with reference to possible defect causing parameter. It helps to implement a corrective procedure at the point where the frequencies are more, so that the benefit of correct will be maximum. A sample sheet is shown below. Histogram Histograms are graphical representations of distribution of data. They are generally used to record huge volumes of data about a process.They reveal whether the pattern of distribution – whether there is a single peak, or many peak and also the extent of variation around the peak value. This helps in identifying whether the problem is serious. When used in conjunction with comparable parameters, the visual patterns help us to identify the problem which should be attended to. Pareto Analysis This is a tool for classifying problem areas according to the degree of importance and attending to the most important. Pareto principle, also called 80-20 rule, states that 80 percent of the problems that we encounter arise out of 20 percent of items.If we find that, in a day, we have 184 assemblies have given problems and there are 11 possible causes, it is observed that 80 per cent of them i. e. 147 of them have been caused by just 2 or 3 of them. It will be easy to focus on these 2 or three and reduce the number of defects to a great extent. When the cause of these defects have been attended, we will observe that some other defect Scatter Diagram These are used when we have two variables and want to know the degree of relationship between them. We can determine if there is cause and effect relationship between and its extent over a range of values.Sometimes, we can observe that there is no relationship, in which we can change one parameter being sure that it has no effect on the other parameter. Control Charts These are used to verify whether a process is under control. Variables when they remain within a range will render the product maintain the specifications. This is the quality of conformance. The range of permitted deviations is determined by design parameters. Samples are taken and the mean and range of the variable of each sample (subgroup) is recorded. The mean of the means of the samples gives the control lines. Assuming normal distribution, we expect 99. 7 per cent of all values to lie within the UCL when we take 3 standard deviations – Upper Control Limit – and LCL – Lower Control Limit. The graphical representation of data helps in changing settings to bring back the process closer to the target. Cause and Effect Diagram This is a diagram in which all possible causes are classified on quality characteristics which lead to a defect. These are arranged in such a way that different branches — the causes are – le ading the stem in the direction of the discovery of the problem. When each of them is investigated thoroughly we will be able to pinpoint some factors which cause the problem.We will also observe that a few of them will have cumulative effect or even a cascading effect. Deming Wheel Deming’s approach is summarized in his 14 points. Constancy of purpose for continuous improvement Adopt the TQM philosophy for economic purposes Do not depend on inspection to deliver quality Do not award any business based on price alone Improve the system of production and service constantly Conduct meaningful training on the job Adopt modern methods of supervision and leadership Remove fear from the minds of everyone connected with the organisation Remove barriers between departments and peopleDo not exhort, repeat slogans and put up posters. Do not set up numerical quotas and work standards Give pride of workmanship to the workmen Education and training to be given vigorously State and exhibit top management’s commitment for quality and productivity Using the above principles, Deming gave a four step approach to ensure a purposeful journey of TQM. The slope is shown to indicate that if efforts are let up the program will roll back Plan – means that a problem is identified, processes are determined and relevant theories are checked out. Do – means that the plan is implemented on a trial basis.All inputs are correctly measured and recorded. Check/Study/Analyze – means that the trials taken according to the plan are in accordance with the expected results. Act – When all the above steps are satisfactory regular production is started so that quality outcomes are assured Crosby’s Absolutes of Quality Like Deming, he also lays emphasis on top management commitment and responsibility for designing the system so that defects are not inevitable. He urged that there be no restriction on spending for achieving quality. In the long run, main taining quality is more economical rather than compromising on its achievement.His absolutes can be listed as under. Quality is conformance to requirements – not ‘goodness’. Prevention, not appraisal, is the path to quality. Quality is measured as the price paid for non-conformance and as indexes. Quality originates in all factions – not quality department. There are no quality problems people, design, process create problems. Crosby also has given 14 points similar to those of Deming. His approach emphasizes on measurement of quality, increasing awareness, corrective action, error cause removal and continuously reinforcing the system, so that advantages derived are not lost over time.He desires that the quality management regimen should improve the overall health of the organization and prescribed a vaccine. The ingredients are: Integrity – honesty and commitment to produce everything right first time, every time. Communication – Flow of inf ormation between departments, suppliers, customers – helps in identifying opportunities. Systems and operations – These should bring in a quality environment – so that nobody is comfortable with anything less than the best. 5. Define project cycle, project management, and scope of project. List the various project management knowledge areas?What are the reasons for failure of a project? Project Cycle – A project cycle basically consists of the various activities of operations, resources and the limitations imposed on them. Definition of â€Å"Project Management† It is the practice of controlling the use of resources, such as cost, time, manpower, hardware and software involved in a project, that start with a problem statement and end with delivery of a complete product. Project management involves understanding its scope and various processes in the project cycle. Project Management DefinitionAs per PMBOK (Project Management — Body of Knowle dge, defined by PMI – Project Management Institute) : â€Å"Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. As per DIN 69901 (German Organization for Standardization): â€Å"Project management is the complete set of tasks, techniques, tools applied during project execution† Scope – It refers to the various parameters that affect the project in its planning, formulation and executions, Like:- The range of one's perceptions, thoughts, or actions.Breadth or opportunity to function. See Synonyms at room. The area covered by a given activity or subject. See Synonyms at range. The length or sweep of a mooring cable. Informal A viewing instrument such as a periscope, microscope, or telescope. Before knowing the reasons of failure we have to know about project. Project is a set of activities which are networked in order and aimed towards achieving goal of a project. Now, the reasons ar e project failure: Incidence of Project failure Projects being initiated of random at all levels Project objective not in line with business objectiveProject management not observed Project manager with no prior experience in the related project Non- dedicated team Lack of complete support from clients Factors contributing to project success not emphasized: Project objective in alignment with business objective Working within the framework of project management methodology Effective scoping planning, estimation, execution, controls and reviews, project bottlenecks Communication and managing expectations effectively with clients, team merits and stake holders Prior expectance of PM in a similar projectOverview of information and communication Technologies (ICT) project: Involve information and communication technologies such as the word wide web, e-mail, fiber-optics satellites. ii) Enable societies to produce, access, adapt and apply information in greater amount, more rapidly and a t reduce casts. iii) Offer enormous opportunities for enhancing business and economic viability. iv) Common problems encountered during projects. v) No prioritization of project activity from an organizational position. vi) One or more of the stages in the project mishandled. vii) Less qualified non-dedicated manpower. iii) Absence of smooth flow of communication between the involved parties. These basic reasons lead a project to failures. In the project failures business management and project management is directly involved. From the management point of view it is basic things to care above topics to success of a project. Project is the core business of a company. 6. Explain the various phases in project management life cycle. Explain the necessity and objectives of SCM. This is the initial phase of any project. In this phase information is collected from the customer pertaining to the project and the requirements are analyzed.The entire project has to be planned and it should be done in a strategic manner. The project manager conducts the analysis of the problem and submits a detailed report to the top project justification, details on what the problem is a method of solving the problem, list of the objectives to be achieved, project budget and the success rate of completing the project. The report must also contain information and the project feasibility, and the risks involved in the project. Project management life cycle is the integrated part of management. It is attach with project responsibility or failure of a project.The important tasks of this phase are as follows: Specification Requirements Analysis (SRA): It has to be conducted to determine the essential requirements of a project in order to achieve the target. Feasibility study: To analyze whether the project is technically, economically and practically feasible to be undertaken. Trade off analysis: To understand and examine the various alternatives which could be considered. Estimation: To esti mate the project cost, effort requires for the project and functionality of various process in the project. System design: Choose a general design that can fusil the requirements.Project evolution: Evaluate the project in terms of expected profit, cost and risks involved marketing phase. A project proposal is prepared by a group of people including the project manager. This proposal has to contain the strategies adopted to market the product to the customers. Design phase: This phase involves the study of inputs and outputs of the various project stages. Execution phase: In this phase the project manager and the teams members work on the project objectives as per the plan. At every stage during the execution reports are prepared. Control: Inspecting, Testing and Delivery phase during this phase.The project team works under the guidance of the project manager. The project manager has to ensure that the team working under his, implements the project designs accurately, the project man ager has to ensure ways of managing the customer, perform quality control work. Closure and post completion analysis phase upon satisfactory completion and delivery of the intended product or service the staff performance has to be evaluated. Document the lessons from the project. Prepare the reports on project feedback analysis followed by the project execution report. The phase which involve in the above are:The preparation stage involves the preparation and approval of project outline, project plan and project budget. The next stage involves selecting and briefing the project team about the proposals followed by discussions on the roles and responsibility of the project member and the organization. The project management life cycle: A Life cycle of a project consists of the following: Understanding the scope of the project Establishing objectives of the project Formulating and planning various activities Project execution and Monitor and control the project resources. Risk Manage ment:-Risk is defined in ISO 31000 as the effect of uncertainty on objectives (whether positive or negative). Risk management can therefore be considered the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary.Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actua rial assessments, or public health and safety. The strategies to manage risk include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.Certain aspects of many of the risk management standards have come under criticism for having no measurable improvement on risk even though the confidence in estimates and decisions increase. Necessity and objectives of SCM:- SCM is the abbreviation of supply chain Management. It is considered by many express worldwide as the ultimate solution towards efficient enterprise management. SCM is required by and enterprise as a tow to enhance management effectiveness with a following organizational objective: Reduction of inventory:-Enactment in functional effectiveness of existing systems like ERP, Accounting.Software and Documentation like financial reports statements ISO 9000 Documents etc. Enhancement of participation level and empowerm ent level:- Effective integration of multiple systems like ERP, communication systems, documentation system and secure, Design R systems etc. Better utilization of resources- men, material, equipment and money. Optimization of money flow cycle within the organization as well as to and from external agencies. Enhancement of value of products, operations and services and consequently, enhancements of profitability.Enhancement of satisfaction level of customer and clients, supporting institutions, statutory control agencies, supporting institutions, statutory control agencies, suppliers and vendors, employees and executives . Enhancement of flexibility in the organization to help in easy implementation of schemes involving modernization, expansion and divestment, merges and acquisitions Enhancement of coverage and accuracy of management information systems. With the objectives of SCM its implementation are required.Implementation is in the form of various functional blocks of an organi zation interpenetrated through which a smooth flow of the product development is possible. A relatively new SCM option involves web based software with a browser interface. Several electronic marketplaces for buying and selling goods and materials. Steps involved in the implementation of SCM:- There is many steps which involved in SCM implementation are- Business Process, sales and marketing.Logistics, costing, demand planning, trade- off analysis, environmental requirement, process stability, integrated supply, supplier management, product design, suppliers, customers, material specifications, etc. Some important aspect of SCM- The level of competition existing in the market and the impact of competitive forces on the product development. Designing and working on a strategic logic for better growth through value invention. Working out new value curve in the product development along with necessary break point. Using it to analyze markets and the economies in product design.Time, cu stomer, quality of product and the concept of survival of fittest. Steps of SCM principals: Group customer by need: Effective SCM groups, customer by tie tinct service meets those particular segment. Customize the logistics networks: In designing their logistics network, companies need to focus on the service requirement and profit potential of the customer segments identified. Listen to signals of market demand and plan accordingly- sales and operations planners must monitor the entire supply chain to detect early warning signals of changing customer demand and needs.Differentiate the product closer to the customer: companies today no longer can afford to stock pile inventory to compensate for possible forecasting errors, instead, they need to postpone product differentiation in the manufacturing. Process closer to actual customer demand. Strategically manage the source of supply: by working closely with their key suppliers to reduce the overall casts of owning materials and servic es; SCM maximizes profit margins both for themselves, and their supplies.Develop a supply chain wide technology strategy: as one of the cornerstones of successful SCM information technology must be able to support multiple levels of decision making. Adopt channel spanning performance measures- Excellent supply performance measurement systems do more than just monitor internal functions. They apply performance criteria that embrace bathe service and financial metrics, including as such as each accounts true profitability. MB0045 – Financial Management Assignment set – 1 Q. 1 Write the short notes on 1. Financial management 2. Financial planning 3. Capital structure 4. Cost of capital 5. Trading on equity.Ans: 1. Financial Management Financial Management is Planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. The management of the finances of a business / organization in order to achieve financial objectives. Financia l Management is the efficient and effective planning and controlling of financial resources so as to maximize profitability and ensuring liquidity for an individual(called personal finance), government(called public finance) and for profit and non-profit organization/firm (called corporate or managerial finance). Generally, it involves balancing risks and profitability.The decision function of financial management can be divided into the following 3 major areas: INVESTMENT DECISION 1. Determine the total amount of assets needed by a firm hence closely tied to the allocation of funds 2. Two type of investment decisions namely: †¢ Capital Investment decisions re: large sums, non routine, longer term, critical to the business like purchase of plant and machinery or factory †¢ Working Capital Investment decisions re: more routine in nature, short term but are also very critical decisions like how much and how long to invest in inventories or receivables   FINANCING DECISION . After deciding on the amount and type of assets to buy, the financial manager needs to decide on HOW TO FINANCE these assets with the sources of fund 2. Financing decisions for example: †¢ Whether to use external borrowings/debts or share capital or retained earnings †¢ Whether to borrow short, medium or long term †¢ What sort of mix – all borrowings or part debts part share capital or 100% share capital †¢ The needs to determine how much dividend to pay out as this will directly affects the financial decision.Financial Planning Financial Planning is an exercise aimed to ensure availability of right amount of money at the right time to meet the individual’s financial goals Concept of Financial Planning Financial Goals refer to the dreams of the investor articulated in financial terms. Each dream implies a purpose, and a schedule of funds requirements for realising the purpose Asset Allocation refers to the distribution of the investor’s wea lth between different asset classes (gold, property, equity, debt etc. Portfolio Re-balancing is the process of changing the investor’s asset allocation Risk Tolerance / Risk Preference refers to the appetite of the investor for investment risk viz. risk of loss Financial Plan Is a road map, a blue print that lists the investors’ financial goals and outlines a strategy for realising them Quality of the Financial Plan is a function of how much information the prospect shares, which in turn depends on comfort that the planner inspires Capital Structure Capital structure of a firm is a reflection of the overall investment and financing strategy of the firm.Capital structure can be of various kinds as described below: – Horizontal capital structure: the firm has zero debt component in the structure mix. Expansion of the firm takes through equity or retained earnings only. – Vertical capital structure: the base of the structure is formed by a small amount of e quity share capital. This base serves as the foundation on which the super structure of preference share capital and debt is built. – Pyramid shaped capital structure: this has a large proportion consisting of equity capita; and retained earnings. Inverted pyramid shaped capital structure: this has a small component of equity capital, reasonable level of retained earnings but an ever-increasing component of debt. SIGNIFICANCE OF CAPITAL STRUCTURE: – Reflects the firm’s strategy – Indicator of the risk profile of the firm – Acts as a tax management tool – Helps to brighten the image of the firm. FACTORS INFLUENCING CAPITAL STRUCTURE: – Corporate strategy – Nature of the industry – Current and past capital structure Cost of Capital Cost of capital is the rate of return the firm requires from investment in order to increase the value of the firm in the market place.In economic sense, it is the cost of raising funds required to finance the proposed project, the borrowing rate of the firm. Thus under economic terms, the cost of capital may be defined as the weighted average cost of each type of capital. There are three basic aspects about the concept of cost 1. It is not a cost as such: The cost of capital of a firm is the rate of return which it requires on the projects. That is why; it is a ‘hurdle’ rate. 2. It is the minimum rate of return: A firm’s cost of capital represents the minimum rate of return which is required to maintain at least the market value of equity shares. . It consists of three components. A firm’s cost of capital includes three components a. Return at Zero Risk Level: It relates to the expected rate of return when a project involves no financial or business risks. b. Business Risk Premium: Business risk relates to the variability in operating profit (earnings before interest and taxes) by virtue of changes in sales. Business risk premium is determined b y the capital budgeting decisions for investment proposals. c. Financial Risk Premium: Financial risk relates to the pattern of capital structure (i. e. debt-equity mix) of the firm, In general, a firm which has higher debt content in its capital structure should have more risk than a firm which has comparatively low debt content. This is because the former should have a greater operating profit with a view to covering the periodic interest payment and repayment of principal at the time of maturity than the latter. Trading on Equity When a co. uses fixed interest bearing capital along with owned capital in raising finance, is said â€Å"Trading on Equity†. (Owned Capital = Equity Share Capital + Free Reserves )Trading on equity represents an arrangement under which a company uses funds carrying fixed interest or dividend in such a way as to increase the rate of return on equity shares. It is possible to raise the rate of dividend on equity capital only when the rate of intere st on fixed – interest – bearing – security is less than the rate of return earned in business. †¢Two other terms: †¢Trading on Thick Equity :-  When borrowed capital is less than owned capital †¢Trading on Thin Equity :-  When borrowed capital is more than owned capital, it is called Trading on thin Equity.Q. 2 a. Write the features of interim divined and also write the factors (08 Marks) Influencing divined policy? b. What is reorder level? Ans: a) Usually, board of directors of  company  declares  dividend  in annual general meeting after finding the real net profit position. If boards of directors give dividend for current year before closing of that year, then it is called interim dividend. This dividend is declared between two annual general meetings. Before declaring interim dividend, board of directors should estimate the net profit which will be in future.They should also estimate the amount of  reserves  which will deduct from net profit in  profit and loss appropriation account. If they think that it is sufficient for operating of business after declaring such dividend. They can issue but after completing the year, if profits are less than estimates, then they have to pay the amount of declared dividend. For this, they will have to take loan. Therefore, it is the duty of directors to deliberate with financial consultant before taking this decision.Accounting treatment of interim dividend in final accounts of company:- # First Case  : Interim dividend is shown both in profit and loss appropriation account and balance sheet , if it is outside the  trial balance  in given question. ( a) It will go to debit side of profit and loss appropriation account (b) It will also go to current liabilities head in liabilities side. # Second Case:  Interim dividend is shown only in profit and loss appropriation account, if it is shown in trial balance. ( a) It will go only to debit side of profit and loss appropriation account.If in final declaration is given outside of trial balance and this will be proposed dividend and interim dividend in trial balance will be deducted for writing proposed dividend in profit and loss appropriation account and balance sheet of company, because if we will not deducted interim dividend, then it will be double   deducted from net profit that is wrong and error shows when we will   match balance sheets assets with liabilities. Factors affecting dividend policy. The dividend decision is difficult decision because of conflicting objectives and also because of lack of specific decision-making techniques.It is not easy to lay down an optimum dividend policy which would maximize the long-run wealth of the shareholders. The factors affecting dividend policy are grouped into two broad categories. 1. Ownership considerations 2. Firm-oriented considerations Ownership considerations:  Where ownership is concentrated in few people, there are no problems in identifying ownership interests. However, if ownership is decentralized on a wide spectrum, the identification of their interests becomes difficult. Various groups of shareholders may have different desires and objectives.Investors gravitate to those companies which combine the mix of growth and desired dividends. Firm-oriented considerations:  Ownership interests alone may not determine the dividend policy. A firm’s needs are also an important consideration, which include the following: †¢ Contractual and legal restrictions †¢ Liquidity, credit-standing and working capital †¢ Needs of funds for immediate or future expansion †¢ Availability of external capital. †¢ Risk of losing control of organization †¢ Relative cost of external funds †¢ Business cycles †¢ Post dividend policies and stockholder relationships.The following factors affect the shaping of a dividend policy: Nature of Business:  Companies with unstable earnings adopt dividend policies which are different from those which have steady earnings. Composition of Shareholding:  In the case of a closely held company, the personal objectives of the directors and of a majority of shareholders may govern the decision. To the contrary, widely held companies may take a dividend decision with a greater sense of responsibility by adopting a more formal and scientific approach. Investment Opportunities:  Many companies retain earnings to facilitate planned expansion.Companies with low credit ratings may feel that they may not be able to sell their securities for raising necessary finance they would need for future expansion. So, they may adopt a policy for retaining larger portion of earnings. Similarly, is a company has lucrative opportunities for investing its funds and can earn a rate which is higher than its cost of capital, it may adopt a conservative dividend policy. Liquidity:  This is an important factor. There are companies, which are profitable but cannot generate sufficient cash, since profits are to be reinvested in fixed assets and working capital to boost sales.Restrictions by Financial Institutions:  Sometimes financial institutions which grant long-term loans to a company put a clause restricting dividend payment till the loan or a substantial part of it is repaid. Inflation:  In period of inflation, funds generated from depreciation may not be adequate to replace worn out equipment. Under inflationary situation, the firm has to depend upon retained earnings as a source of funds to make up for the shortfall. Consequently, the dividend pay out ratio will tend to be low. Other factors:  Age of the company has some effect on the dividend decision.The demand for capital expenditure, money supply, etc. , undergo great oscillations during the different stages of a business cycle. As a result, dividend policies may fluctuate from time to time. Ans b) Reorder Level This is that level of materials at which a new order for supply of materials is to be placed. In other words, at this level a purchase requisition is made out. This level is fixed somewhere between maximum and minimum levels. Order points are based on usage during time necessary to requisition order, and receive materials, plus an allowance for protection against stock out.The  order point  is reached when inventory on hand and quantities due in are equal to the lead time usage quantity plus the safety   stock quantity. Formula of Re-order Level or Ordering Point: The following two formulas are used for the calculation of  reorder level or point. Ordering point or re-order level = Maximum daily or weekly or monthly usage ? Lead time The above formula is used when usage and lead time are known with certainty; therefore, no safety stock is provided. When safety stock is provided then the following formula will be applicable: Ordering point or re-order level = Maximum daily or weekly or monthly usage ?Lead time + Safety stock Q. 3 Sales Rs. 400, 000 less returns Rs 10, 000, Cost of Goods Sold Rs 300,000, Administration and selling expenses Rs. 20, 000, Interest on loans Rs. 5000, Income tax Rs. 10000, preference dividend Rs. 15,000, Equity Share Capital Rs. 100, 000 @Rs. 10 per share. Find EPS. Sales Rs. 400, 000 less returns Rs 10, 000, Cost of Goods Sold Rs 300,000, Administration and selling expenses Rs. 20, 000, Interest on loans Rs. 5000, Income tax Rs. 10000, preference dividend Rs. 15,000, Equity Share Capital Rs. 100, 000 @Rs. 10 per share. Find EPS. Sales | | |400,000 | | |Less Returns | |10,000 |390,000 | | | | | | | |Less | | | | | |COGS | | |30,000 | | |S | | |20,000 | | |Int on Loan | | |5,000 | | |IT | | |10,000 |325,000 | |Div | | |15,000 | | |ESC | | |100,000 |@ 10/- | |NPAT – Pref Share Div | | | | |No of Shares | | | | | | | | | | |NPAT | | |55,000 | | |less Pref Share Div | |15,000 |40,000 | | | | | | | |EPS | | |40,000 |=Rs. 4/- | | | | |10,000 | | Q. 4 What are the techniques of evaluation of investment? Three steps are involved in the evaluation of an investment: †¢Estimation of cash flows †¢Estimation of the required rate of return (the opportunity cost of capital)   †¢Application of a decision rule for making the choice. The first two steps, discussed in the subsequent chapters, are assumed as given. Thus, our discussion in this chapter is confined to the third step. speifically, we focus on the merits and demerits of various decision rules. Investment decision ruleThe investment decision rules may be referred to as capital budgeting techniques, or investment criteria. A sound appraisal technique should be used to measure the economic worth of an investment project. The essential property of a sound technique is that it should maximize the shareholders’ wealth. The following other characteristics should also be possessed by a sound investment evaluation criterion. †¢ It should consider all cash flows to determine the true pro fitability of the project. †¢ It should provide for an objective and unambiguous way of separating good projects form bad projects. †¢ It should help ranking of projects according to their true profitability. It should recognize the fact that bigger cash flows true profitability. †¢ It should recognize the fact that bigger cash flows are preferable to smaller once and early cash flows are preferable to later ones. †¢ It should help top choose among mutually exclusive projects that project which maximizes the shareholders’ wealth. †¢ It should be a criterion which is applicable to any conceivable investment project independent of other. These conditions will be clarified as we discuss the features of various investment criteria in the following pages. Evaluation criteria A number of investments criteria (or capital budgeting techniques) are in use in proactive. They may be grouped in the following two categories: 1.Discounted cash flow (DCF) criteria à ¢â‚¬ ¢ Net present value (NPV) †¢ Internal rate of return (IIR) †¢ Profitability index (PI) 2. Non-discounted cash flow criteria †¢ Payback period (PB) †¢ Discounted payback period †¢ Accounting rate of return (ARR). Discounted payback is a variation of the payback method. It involves discounted cash flows, but as we shall see later, it is not a true measure of investment profitability. We will show in the following pages that the net present value criterion is the most valid technique of maximizing the shareholders wealth. Problems associated with inadequate working capital Working capital may be regarded as the life blood of business.Working capital is of major importance to internal and external analysis because of its close relationship with the current day-to-day operations of a business. Every business needs funds for two purposes. * Long term   funds are required   to create production facilities through purchase of fixed assets such as plants, ma chineries, lands, buildings & etc * Short term funds are required for the purchase of raw materials, payment of wages, and other day-to-day expenses. . It is other wise known as revolving or circulating capital It is nothing but the difference between current assets and current liabilities. i. e. Working Capital = Current Asset – Current Liability. Businesses use capital for construction, renovation, furniture, software, equipment, or machinery.It is also commonly used to purchase inventory, or to make payroll. Capital is also used often by businesses to put a down payment down on a piece of commercial real estate. Working capital is essential for any business to succeed. It is becoming increasingly important to have access to more working capital when we need it. Q. 5 What are the problems associated with inadequate working capital? A business firm must maintain an adequate level of working capital in order to run its business smoothly. It is worthy to note that both excessi ve and inadequate working capital positions are harmful. Working capital is just like the heart of business. If it becomes weak, the business can hardly prosper and survive.No business can run successfully without an adequate amount of working capital. Danger of inadequate working capital When working capital is inadequate, a firm faces the following problems. Fixed Assets cannot efficiently and effectively be utilized on account of lack of sufficient working capital. Low liquidity position may lead to liquidation of firm. When a firm is unable to meets its debts at maturity, there is an unsound position. Credit worthiness of the firm may be damaged because of lack of liquidity. Thus it will lose its reputation. There by, a firm may not be able to get credit facilities. It may not be able to take advantages of cash discount. Disadvantages of Redundant or Excessive Working Capital 1.Excessive Working Capital means ideal funds which earn no profits for the business and hence the busin ess cannot earn a proper rate of return on its investments. 2. When there is a redundant working capital, it may lead to unnecessary purchasing and accumulation of inventories causing more chances of theft, waste and losses. 3. Excessive working capital implies excessive debtors and defective credit policy which may cause higher incidence of bad debts. 4. It may result into overall inefficiency in the organization. 5. When there is excessive working capital, relations with banks and other financial institutions may not be maintained. 6. Due to low rate of return on investments, the value of shares may also fall. 7.The redundant working capital gives rise to speculative transactions. Disadvantages or Dangers of Inadequate Working Capital 1. A concern which has inadequate working capital cannot pay its short-term liabilities in time. Thus, it will lose its reputation and shall not be able to get good credit facilities. 2. It cannot buy its requirements in bulk and cannot avail of disc ounts, etc. 3. It becomes difficult for the firm to exploit favourable market conditions and undertake profitable projects due to lack of working capital. 4. The firm cannot pay day-to-day expenses of its operations and its creates inefficiencies, increases costs and reduces the profits of the business. 5.It becomes impossible to utilize efficiently the fixed assets due to non-availability of liquid funds. 6. The rate of return on investments also falls with the shortage of working capital. Disadvantages or Dangers of Inadequate or Short Working Capital †¢ Can’t pay off its short-term liabilities in time. †¢ Economies of scale are not possible. †¢ Difficult for the firm to exploit favourable market situations †¢ Day-to-day liquidity worsens †¢ Improper utilization the fixed assets and ROA/ROI falls sharply Q. 6 What is leverage? Compare and Contrast between operating Leverage and financial leverage (10 Marks) ‘Leverage’ is the action of a lever or the mechanical advantage gained by it; it also means ‘effectiveness’ or ‘power’.The common interpretation of leverage is derived from the use or manipulation of a tool or device termed as lever, which provides a substantive clue to the meaning and nature of financial leverage. When an organization is planning to raise its capital requirements (funds), these may be raised either by issuing debentures and securing long term loan 0r by issuing share-capital. Normally, a company is raising fund from both sources. When funds are raised from debts, the Co. investors will pay interest, which is a definite liability of the company. Whether the company is earning profits or not, it has to pay interest on debts. But one benefit of raising funds from debt is that interest paid on debts is allowed as deduction for income tax. When funds are raised by issue of shares (equity) , the investor are paid dividend on their investment. Dividends are paid only when th e Company is having sufficient amount of profit. In case of loss, dividends are not paid. But dividend is not allowed as deduction while computing tax on the income of the Company. In this way both way of raising funds are having some advantages and disadvantages. A Company has to decide that what will be its mix of Debt and Equity, considering the liability, cost of funds and expected rate of return on investment of fund. A Company should take a proper decision about such mix, otherwise it will face many financial problems.For the purpose of determination of mix of debt and equity, leverages are calculated and analyzed. Concept of Financial Leverage Leverage may be defined as the employment of an asset or funds for which the firm pays a fixed cost or fixed return. The fixed cost or return may, therefore be thought of as the full annum of a lever. Financial leverage implies the use of funds carrying fixed commitment charge with the objective of increasing returns to equity sharehold ers. Financial leverage or leverage factor is defined, as the ratio of total value of debt to total assets or the total value of the firm. For example, a firm having a total value of Rs. ,00,000 and a total debt of Rs. 1,00,000 would have a leverage factor of 50 percent. There are difficult measures of leverage such as. i. The ratio of debt to total capital ii. The ratio of debt to equity iii. The ratio of net operating income (earning before interest and taxes) to fixed’ charges) The first two measures of leverage can be expressed either in book v8lue or market value the debt of equity ratio as a measure of financial leverage is more popular in practice. â€Å" Risk & Financial Leverage: Effects of financial Leverage:  The use of leverage results in two obvious effects: i. Increasing the shareholders earning under favorable economic conditions, and ii.Increasing the financial risk of the firm. Suppose there are two companies each having a Rs. 1,00,000 capital structure. O ne company has borrowed half of its investment while the other company has only equity capital: Both earn Rs. 2,00,000 profit. The ratio of interest on the borrowed capital is 10%and the rate of corporate tax 50%. Let us calculate the effect of financial leverage, both in the shareholders earnings and the Company’s financial risk in these two companies. (a) Effect of Leverage on Shareholders Earnings: |  |   |  |Company A |  |Company B | | | | |Rs. | |Rs. |  |Profit before Interest and Taxes | |2,00,000 | |2,00,000 | |  |Equity | |10,00,000 | |5,00,000 | |  |Debt | |—- | |5,00,000 | |  |Interest (10%) | |—- | |50,000 | |  |Profit after interest but before Tax | |2,00,000 | |1,50,000 | |  |Taxes @ 50% | |1,00,000 | |75,000 | Rate of return on Equity of Company A Rs. 1,00,000/Rs. 10,00,000 = 10% Rate of return on Equity of Company B Rs. 75,000/Rs. 5,00,000 = 15% The above illustration points to the favorable effect of the leverage factor on ear nings of shareholders. The concept of leverage is 5 if one can earn more on the borrowed money that it costs but detrimental to the man who fails to do so far there is such a thing as a negative leverage i. e. borrowing money at 10% to find that, it can earn 5%. The difference comes out of the shareholders equity so leverage can be a double-edged sword. b) Effect of Leverage on the financial risk of the company:  Financial risk broadly defined includes both the risk of possible insolvency and the changes in the earnings available to equity shareholders. How does the leverage factor leads to the risk possible insolvency is self-explanatory. As defined earlier the inclusion of more and more debt in capital structure leads to increased fixed commitment charges on the part of the firm as the firm continues to lever itself, the changes of cash insolvency leading’ to legal bankruptcy increase because the financial ‘charges incurred, by the firm exceed the expected earnings. Obviously this leads to fluctuations in earnings’ available to the equity shareholders. Relationship: Financial and Operating leverage:Relationship between financial and operating leverage:  In business terminology, leverage is used in two senses: Financial leverage & Operating Leverage Financial leverage:  The effect which the use of debt funds produces on returns is called financial leverage. Operating leverage:  Operating leverage refers to the use of fixed costs in the operation of the firm. A firm has a high degree of operating leverage if it employs a greater amount of fixed costs. The degree of operating leverage may be defined as the percentage change in profit resulting from a percentage change in sales. This can be expressed as: = Percent Change in Profit/Percent Change in SalesThe degree of financial leverage is defined as the percent change in earnings available to common shareholders that is associated with a given percentage change in EBIT. Thus, operatin g leverage affects EBIT while financial leverage affects earnings after interest and taxes the earnings available to equity shareholders. For this reason operating leverage is sometimes referred to as first stage leverage and financial leverage as second stage leverage. Therefore, if a firm uses a considerable amount of both operating leverage and financial leverage even small changes in the level of sales will produce wide fluctuations in earnings per share (EPS).The combined effect of both these types of leverages is after called total leverage which, is closely tied to the firm’s total risk. MB0046 -Marketing Management Assignment Set – 1 Q. 1 ]a. Explain the different micro-environmental forces with examples. Forces in the micro environment [pic] 1 The Company Remember, in the previous unit we discussed about marketing mix and marketing plan. Safe Express, a leader in the supply chain management solution wants to hold its number one position in the US $ 90 billion Indian logistics market. The company plans to expand its service areas in the coming months. To meet the targets of the marketing plan, other departments of safe express also expanding their horizon.The Company is coming out with logistics parks in different cities; plans to hold seven million square feet of warehousing capacity in the next three years and invest Rs 10 billion in three years to meet those targets. The above example shows that the company’s marketing plan should be supported by the other functional departments also. 2 Intermediaries Marketing intermediaries: These are firms which distribute and sell the goods of the company to the consumer. Marketing intermediaries play an important role in the distribution, selling and promoting the goods and services. Stocking and delivering, bulk breaking, and selling the goods and services to customer are some of the major functions carried out by the middlemen.Retailers, wholesalers, agents, brokers, jobbers and carry for ward agents are few of the intermediaries. Retailers are final link between the company and the customers. Their role in the marketing of product is increasing every day. 3 Publics These are microenvironment groups, which help a company to generate the financial resources, creating the image, examining the companies’ policy and developing the attitude towards the product. We can identify six types of publics 1. Financial publics influence the company’s ability to obtain funds. For example, Banks, investment houses and stockholders are the major financial publics. 2. Media publics carry news and features about the company e. g.Deccan Herald 3. Advertisement regulation agencies, telecom regulation agency( TRAI), and insurance regulation agency(IRDA) of the government 4. Citizen action groups: Formed by the consumer or environmental groups. For example, people for ethical treatment of animals (PETA) or Greenpeace. 5. General publics: a compa