South Korean Economy Analyzed

South Korea in recent decades has been one of the most dynamic economies in the world. Over the period from 1965 to 1990, the rate of growth of per capita GNP was greater than that of any other country in the world (Watkins 1999). Major Korean enterprises such as Lucky Goldstar and Samsung are now common household brand names all over the world. As well, Hyundai and Daewoo, the two leading South Korean auto manufacturers, both offer products that are able to compete on the worldwide market along with other major car producers. In analyzing the South Korean economy, it is important to look at the various factors behind this remarkable success story. The boom and rapid expansion of the Korean economy is due largely in part to the radical changes and new policies introduced under the Park Chung Hee government of 1961-1979. Significant new economic policies included reinforcing the system of chaebol, creating a policy of import substitution with an export-led approach, fostering the development of industries designed to compete effectively in the world's industrial export markets, nationalizing the banks, as well as working on to educe Korea's large external debt. It is these policies, introduced throughout the 1960's and 70's, which caused a future boom in South Korea's economy and continue to influence it at the present day. One extremely important aspect of the South Korean economy is the concept of chaebol. Fathered by Park Chung Hee in the early 1960's, chaebol are conglomerates of many companies clustered around one holding company. The parent company is usually controlled by one family. It started off as a few specially selected large firms encouraged to tailor their growth and production targets to meet South Korean government objectives and were dependant on state-owned banks for the credit they needed to operate and grow. Government-chaebol cooperation was essential to the subsequent economic growth and astounding successes that began in the mid-1960's. The chaebol were able to grow because of two factors – foreign loans and special favors (Song 1997). Access to foreign technology also was critical to its growth throughout the 1970's and 80's. Under the guise of â€Å"guided capitalism†, the government selected companies to undertake projects and channeled funds from foreign loans. The government guaranteed repayment should a company be unable to repay its foreign creditors. Additional loans were made available from domestic banks. In the late 1980's, the chaebol dominated the industrial sector and were especially prevalent in maufacturing, trading, and heavy industries. Today, the chaebol remains the backbone of South Korea's economy. Examples of chaebol include Samsung, Daewoo, and Goldstar. To give an idea to how successful and powerful this economic concept evolved into, in 1983, the country's three largest corporations, all under the chaebol system, accounted for over a third of South Korea's entire Gross National Product (Ibid, p63). The 1960's saw the reduction of U. S. aid to South Korea, aid which had largely kept the country afloat for the past decade following the Korean War. This made feasible the import substitution strategy the Park Chung Hee government had established. Combining a policy of import substitution with an export-led approach, government policy planners selected a group of strategic industries to back, including electronics, shipbuilding, and automobiles. New industries were nurtured by making the importation of such goods difficult. When the new industry was on its feet, the government worked to create good conditions for its export. Incentives for exports included a reduction of corporate and private income taxes for exporters, tariff exemptions for raw materials imported for export production, business tax exemptions, and accelerated depreciation allowances (Kim 1997). This strategy was largely responsible for establishing Korea's strong export-led industries that exist today. Favorable conditions mean that there will always be a demand for their product, both domestically and overseas. In the latter part of Park's reign as president, he fostered the development of industries designed to compete effectively in the world's industrial export markets. These major strategic industries consisted of technology-intensive and skilled labor-intensive industries such as machinery, electronics, and shipbuilding. The plan stressed large heavy and chemical industries, such as iron and steel, petrochemicals, and nonferrous metal. As a result, heavy and chemical industries grew by an impressive 51. 8 percent in 1981 (Amsden 1992); their exports increased to 45. 3 percent of total output (Ibid, p103). These developments can be ascribed to a favorable turn in the export performance of iron, steel, and shipbuilding, which occurred because high-quality, low-cost products could be produced in South Korea. By contrast, the heavy and chemical industries of advanced countries slumped during the late 1970's. This strategy helped to establish South Korea's economic role as a major worldwide industrial exporter, even in a time of turmoil created by the OPEC debacle. It was a plan that was carried right through the 1980's and well into the 90's by successive governments, who recognized its formula for success. When Park took control in 1961, one of his first orders of business was to extend government control over business by nationalizing the banks. As well, he merged the agricultural cooperative movement with the agricultural bank. The government's direct control over all institutional credit further extended Park's command over the business community. The Economic Planning Board was created in 1961 and became the nerve center of Park's plan to promote economic development (Kearny 1991). The Board exists to this day; it is charged primarily with economic planning, as well as coordinating the economic functions of other government ministries. The Bank of Korea continues to exist as a government-controlled financial institution, operated by the Ministry of Finance. In 1975 South Korea was the fourth largest debtor among developing countries with external debt totaling nearly $47 billion U. S. (52 percent of GNP) (Kim 1997). The Park government used its substantial current account surpluses between 1976 and 1979 to reduce and even repay its foreign debt. South Korean banking institutions were banned from obtaining long-term bank loans until the end of the year. The government also reduced the availability of foreign currency loans. This strategy worked, and as a result, South Korea's gross foreign debt dropped to $29. billion U. S. in 1979 (Ibid, p. 74). The dramatic reduction of the debt by the Park government established a solid groundwork for economic growth and expansion by successive governments in the 1980's and 90's. Today, South Korea has in place solid debt management policies and has graduated from its status as a World Bank loan recipient. In analyzing the South Korean economy, it is not hard to see why it has developed into the world's 11th largest economic system (Song 1997). The truth is in the numbers. During the 1970's, some estimates indicate, Seoul had the world's most productive economy. The annual industrial production growth rate was about 25 percent (Ibid, p131); there was a fivefold increase in the GNP from 1965 to 1978 (Ibid, p131). In the mid-1970's, exports increased by an average of 45 percent a year (Ibid, p132). Today, it is a major exporter of electronics, heavy machinery, and automobiles. The remarkable success of this dynamic economy can be attributed to the radical new economic policies and changes brought about by the Park Chung Hee government of 1961-1979. Significant new economic strategies included developing the system of chaebol, creating the import-substitution policy, fostering the development of industries designed to compete in the world's industrial export markets, nationalizing financial institutions, as well as working on to reduce South Korea's large external debt. Successive governments continued to implement these policies and many are still in place today. South Korea is definitely an economic powerhouse to be reckoned with, and the world may still have yet to feel the wrath of this Asian Tiger.

Six Popular Brands of Cola Are to Be Used in a Blind Taste Study

Macroeconomics Homework 2 Chapter 3: 5. a. England has the absolute advantage in scones & Scotland has the absolute advantage in sweaters. England has the comparative advantage in producing scones and Scotland has the comparative advantage in producing sweaters. b. Scotland would produce sweaters and trade them for scones to England because they will be getting a good at a lower opportunity cost if they produced it in their own country. c. Yes, both countries would still gain from trade because England would still have a higher opportunity cost for producers sweaters than Scotland.Chapter 4: 5. Technology advances have affected the market for computers by increasing the supply causing a shift to the right, which has also increased the demand for computer software, also lowering the price. As for typewriters it has decreased the demand because computers are becoming more affordable because they are cheaper to make. 10. a. Submitting graph in class. Equilibrium price is $6. 00 and quan tity is 81 pizzas. b. There would be a surplus so the producers would have to cut the price to get rid of surplus inventory. . There would be a shortage and the producers would raise the price until the shortage is reduced. Additional homework problems: 1. 1)Opportunity cost of 1 parasol for Huang is 1/3 of a plate. 2)Opportunity cost of 1 parasol for Min ? of plate. 3)Opportunity cost of 1 plate for Huang is 3 parasols. 4)Opportunity cost of 1 plate for Min is 2 parasols. 5)Neither because it takes them both the same amount of labor hours to produce the same amount of parasols. 6)Min because she has lower input of producing plates. )Huang has the comparative advantage of producing parasols because his opportunity cost is lower. 8)Min has the comparative advantage of producing plates because the opportunity cost of producing one plate is only 2 parasols. 9) A. 2. 1)Equilibrium price= 25 Equilibrium quantity= 400 2)400 units would be supplied and demanded. 3)Surplus of 200 units. 4)$ 35 5)Shortage of 200 units 6)$15 3. 1)It would cause a decrease in demand and a shift in the demand curve to the left. )It would cause a decrease in demand and a shift in the demand curve to the left. 3)It would cause an increase in the current demand and a shift in the demand curve to the right. 4)It would cause an increase in the current demand and a shift in the demand curve to the right, because buyers would purchase more before the price goes up. 5)It would cause an increase in demand and a shift in the demand curve to the right. 6)Quantity goes down and prices go up so it would cause a movement in the demand curve to the left.

How CSR is your company Essay

What is Corporate Social Responsibility? Corporate Social Responsibility (CSR) is a self-regulated system that companies use to ensure that their operations are in line with ethical standards, the law and the norms of society. CSR aids companies in taking responsibility for their actions and â€Å"encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere (WIKIPEDIA, 2012)† The company that has been selected for analysis is Burberry. Burberry was established in 1856 by Thomas Burberry and is now an ‘internationally recognised luxury brand with a worldwide distribution network (Burberry PLC, 2012)’. They have 473 stores worldwide and employ approximately 6,681 people. This company claims that they are in compliance with CSR and have on their website listed the ways in which they achieve this. â€Å"One of Burberry’s five strategic themes is pursuing operational excellence. Operational excellence in CR has five key areas of focus: * Healthy business partnerships: based on shared values and high ethical standards * Excellent products and service: quality, craftsmanship, heritage and service standards * Environmental excellence: operating efficiently with minimum waste and maximum control * Excellence in people management: attracting and retaining talented employees * Contributing to society: investing and engaging in the communities where Burberry operates (Burberry, 2011)’ Employee diversity When it comes to employment, it is important for a company to be extremely diverse and offer equal opportunities. Not only are they required to do this by law (under acts such as the Equality Act 2010), but they should also choose to be diverse. A company that chooses to be diverse is well respected by societies in which they operate, and will find that increasing numbers people/other companies are seeking them out to work for/with them. In the long run, embracing equality & diversity could also benefit the company as it will enable them to gain new ideas and look at things from a different perspective. Burberry claims that they are a diverse company when it comes to employment and says that their diverse work force strengthens and drives their success as a luxury brand. The brand now ‘employs nationals of 95 countries across all continents’ (Burberry PLC, 2011). They state that gender equality is promoted within the organisation and equal opportunities are offered at every level of employment. Health, safety and well being Organisations need to genuinely care about the health and safeties of those who are working for them because once they are on their premises the employees become their responsibility. Procedures should be put into place to ensure that the working environment is safe and comfortable enough for their employees to operate in. In order to provide safe and healthy working conditions for their employees and third party contractors, the company sate that they use third party auditors in its locations all of the world to ensure that standards are being met. Stores and offices are said to be audited once every 3 years, and distribution & manufacturing sites annually. In 2010/11, a well-being programme was launched within the company designed to ‘encourage staff to lead healthier lifestyles (IBID, 2011)’. According to the company’s research, the numbers of sick days were reduced by roughly 0.8% per employee. Operating responsibility There has been much controversy around the world in regards to workers in places in third world countries being exploited by companies who simply want cheap labour and have no regards for those producing their products or merely fail to have procedures in place that ensure that these workers are not being treated any differently to for instance a factory worker in the United Kingdom. Burberry believes that ‘to be a great brand u need to be a great company (IBID, 2011)’. They are members of the UN global impact and use its ten principles to guide their CSR activities. The company have a committee of 16 which is solely dedicated to CSR. In the years 2010/11 three meetings were held. â€Å"Burberry believes that its products should be made only in factories that comply with local labour and environmental laws and by workers who work fair but not excessive hours, are provided with a safe, hygienic work environment, and who can exercise their right to freedom of association as well as collective bargaining (IBID, 2011)†. The group have an Ethical Trading Policy, under which clear rules/expectations are said to be set concerning the management of labour standards. Burberry added four new policies to the existing rules that cover bribery and corruption, foreign contract labour, unauthorised sub-contracting and animal welfare. The CRS team deliver training to suppliers where they are made aware of the company’s trading expectations, management systems and counsel on transparency standards for sub-contractors. Stake holder engagement Corporate responsibility should not just be practised with the walls of the organisation. Companies should aim to work together and encourage one and other to do what is morally right and socially acceptable in order to better the supply chain process. By working together, it will increase the chances of change occurring. â€Å"Burberry understands that it cannot solve supply chain labour issues alone and maintains an open dialogue with suppliers, other brands, NGOs and trade unions to bring collective action to bear across the supply chain† The organisation joined the Ethical Trading initiative in June 2010. Ethical trade define the ETI as being â€Å"a sound breaking alliance of companies and trade unions†¦that work in partnership to improve the lives of poor and vulnerable workers across the globe who make or grow consumer goods (2010) Fur When discussing what is ethical and socially acceptable, it is not only human beings that should be discussed. Animal cruelty is a big issue in the especially within high end fashion industry as many of them implement real animal fur and skin into their products. It is a matter of opinion as to whether or not animal fur should be used, however if a company do decided to utilise it, then it should be executed in the most ethical way possible. Burberry openly admits to using real animal fur in the designs. However they state that they only source animal fur from furriers that uphold high standards when it comes to the ethical treatment of animals & share the company’s concerns regarding animal welfare. Helping the environment Global warming is a major concern within the world today. People are being encouraged to reduce their carbon footprints whether it is by taking a greener form of transportation or using less electricity. Organisations more than anyone should be making big changes to the ways in which they operate, as through their production and distribution channels emit more carbon emissions than a normal household. Although it may cost them more money, or even lengthen the time frame of certain processes and procedures, it is an important factor that cannot be overlooked. Recycling is also very important and companies must learn to utilise all of their resources to the fullest. When it comes to trying to assist in sustaining the environment, Burberry’s website make a number of claims as to what they actively do to make a difference. They state that they are dedicated to finding new and innovative ways to reduce their carbon footprint and throughout their global operation. Their performance report for the years 2010/11 is as follows; â€Å"Energy: * Committed to purchasing solar energy to power our distribution centre in Vineland, USA * Inductive motor optimisation panels were trialled in all UK manufacturing sites to reduce energy consumption Business travel: * Due in part to executing the Group’s under-penetrated markets strategy, air travel for UK employees increased by 52% per  £1,000 of turnover Waste: * There was a renewed focus on diverting waste from landfill. In Horseferry House there was a 54% increase in waste recycled during the year * The closed loop textile recycling system launched in the UK last year has been expanded to Europe. Since April 2010, Burberry’s recycling partner has converted over 130 tonnes of sample and raw material waste into car door insulation Logistics transport emissions: * An unprecedented rise in sales coupled with the shift from seasonal to monthly deliveries impacted the Group’s ability to ship goods by sea. To address this, a number of key initiatives have been introduced, including centralised logistics decision making, shortening of critical path and increasing strategic raw materials pre-buys in order to accommodate sea transportation lead times. (Burberry PLC, 2011)† Charity work Giving back the community is an extremely huge part of CSR as it helps to build relationships between the organisation and the community in which it operates. Burberry has its own foundation which came into establishment in 2008. This foundation aims to help young and disadvantaged people with reaching their full potential and realising & accomplishing their dreams. The company encourage their employees to dedicate up to four hours of paid leave per month to help and support the foundation. They provide the youths with one-to-one mentoring, and weekly help with school homework. * â€Å"In 2010/11 over 25% of employees located in cities where the Foundation is active offered their personal talents and business skills to help disadvantaged young people work towards realising their full potential. In total, over 3,700 hours or 490 working days were dedicated to volunteering (IBID, 2011)†. Is Burberry as ethical as it portrays itself to be? Burberry makes a large number of claims on its website in regards to how seriously they take Corporate Social responsibility. However not all companies that present themselves to be good and ethical practice what they advertise. Carelessness and/or neglect can lead to a company’s image being tarnished, even if they have had a good reputation in the past. There have been a number of incidents where Burberry has been seen not to be fulfilling their Corporate Social Responsibility. In 2007, it was exposed that a Chinese factory that manufactured Burberry goods were mistreating members of staff (Appendix 1). Staff were working long hours, with no unions and earning approximately  £15 per week. â€Å"Workers at Tai Yi Sheng Fashion factory, just across the border from Hong Kong in Guangdong province, claim they work 12-hour shifts through the night, in breach of even China’s lax labour laws (The Mirror, 2007)†. In China the law states that no worker should work more than eleven hours per day, however staff claimed that over time is a regular thing and that â€Å"8pm to 8am and Saturday is a full working day(IBID, 2007)†. The Mirror reported that not only were the factory workers working over-time with very little payment, but they were also being docked large sums money from their monthly wage if any mistakes were made. As many of the staff were migrants, they lived in shared accommodation provided by the factory, with up to eight people in one room. Although the factory did not belong to Burberry and was not responsible for manufacturing solely Burberry goods, the company still should have made efforts to inspect the production on a regular basis as the supplier is indirectly representing them. As time has gone by, the company have increased the number of visits made to factories (Appendix 2). In 2008, there were 314 CR visits to factories, 2009 saw 487 visits and in 2010 637; which is approximately a 51% increase within the space of two years. The company have also provided all their supplier’s factories with worker hotlines where they can whistle blow on any unethical activities that may be occurring. This shows that they have responded to incidents such as these and are aspiring to be more ethical. Burberry has also been given a number of awards and recognition for various aspects of Corporate Social responsibility. * In 2010 they were awarded the Female FTSE 100 Award which is given to a company that has the most women on their board. In the same year Burberry were awarded the FTSE Executive Women Award. To earn this award you are required to employ the most female executives in the FTSE 100. â€Å"Thirty-seven companies have multiple women directors, but one quarter of all boards in the FTSE 100 still have no women at all†¦ 43% of their [Burberry] boards are women(BitcDiversity, 2010)† * The company again in 2010 were awarded The Carbon Trust Award. This award recognises a company’s efforts in reducing carbon emissions and it also provides proof to the public that they are committed to making a change. Competitors * Primark On Primark’s website, they state that they take their Corporate Responsibility seriously when it comes to their employees, supporting the community and packaging and waste regulations. The company, just like Burberry are part of the Ethical Trading Initiative which to an extent does provide evidence that they practice good ethics. This is an improvement for them as in 2005, the company came under fire after evidence of them using child labour and exploiting workers in India came to light. In regards to recycling, the company in 2008 recycled ‘8863 tonnes of cardboard and 1194 tonnes of polythene packaging (MRW 2010)’. Primark are yet to win any awards in relation to being eco-friendly and ethical. * Louis Vuitton Following research it is clear that Louis Vuitton strives to be an ethical organisation and is very concerned about the environment. In 2009 the company donated 15% of all sales made through their online store to The Climate Project. â€Å"The company now favours transport of products by ship, far more environmentally friendly than transport by air (as of today, 60% of all leather goods are transported by ship) (Purseblog, 2009)† However, just like their competitor, Louis Vuitton is fond of implementing animal furs and skins into their designs. Recommendations * Burberry should publish all of their emissions in greater detail as they do not provide insufficient information on the emissions that come from their operations. Carbon emissions are based on air travel and global building energy; however all of the figures that Burberry provides are based on their turnover. The company have not made clear its future goals when it comes to reducing carbon emissions within the supply chain and have not shown the public their total carbon footprint. * Remove fur from their production Although Burberry does state that they only deal with furriers that are ethical, there is still great concern around the fact that even some of the higher end furriers are not using ethical procedures and are ignoring animal welfare laws. If Burberry were to completely remove fur from their products it would greatly increase how it is perceived ethically. Other designer brands have taken the plunge in banning fur from their product lines such as Polo Ralph Lauren and Ann Taylor. Alternative materials should be sourced to replace the fur. * Eco friendly factories By winning a Carbon Trust Award, it shows that Burberry is moving forward when it comes to trying to help the environment, yet there is still more than can be done. Eco-friendly factories can help to pave the way to bettering the environment. In an eco-friendly factory, renewable energy can be used such as solar panels. It may not be able to run the whole factory however it will reduce the amount of electricity that is utilised. The factories will incorporate; * Eco-friendly bricks * Plants around the factory as this will create a cooler microclimate * Natural lighting indoors for the staff, via sunroofs * Open their own factories Burberry claim that the majority of their products are made in Europe, however for the remaining locations around the world, the company should open their own factories. This will better enable them to keep an eye on operations and to ensure that workers are being allowed to exercise their rights. When leaving the production in the hands of another organisation, it is very likely that they will operate as they please and could eventually tarnish the brand’s reputation. * Currently, Burberry is using too much air freight. To be greener they should look into using ships to transport their products and materials. Conclusion In conclusion, Burberry is a company that has been able to fulfil their Corporate and Social Responsibility to the fullest. They have been able to react quickly to any areas within the organisation that they may have intentionally or unintentionally overlooked in the past and put regulations in place to ensure that those things do not re-occur in the future. Corporate Social responsibility is not about simply ‘portraying’ the organisation in a good light, it is about going above and beyond away from the eyes of the public and trying to make genuine change. BIBLIOGRAPHY BITCDIVERSITY. (2010). Burberry. Available: http://www.bitcdiversity.org.uk/awards/on_awards_2010/case_studies/ftse_100_award/burberry.html. Last accessed 22nd Jan 2012. Burberry. (2010). CORPORATE RESPONSIBILITY. Available: http://uk.burberry.com/store/corporate/corporate-responsibility/. Last accessed 21st Jan 2012. Burberry. (2010). CORPORATE RESPONSIBILITY. Available: http://www.burberryplc.com/bbry/corpres/socres/. Last accessed 22nd Jan 2012 Ethical Trading Initiative. (2012). About us. Available: http://www.ethicaltrade.org/about-eti. Last accessed 22nd Jan 2012. Gyekye, L. (2009). Primark defends recyclability of clothes. Available: http://www.mrw.co.uk/primark-defends-recyclability-of-clothes/3005045.article. Last accessed 22nd Jan 2012. Luck, A. (2007). SHAME OF BURBERRY. Available: http://www.mirror.co.uk/news/top-stories/2007/06/11/shame-of-burberry-115875-19276939/. Last accessed 22nd Jan 2012. Wikipedia. (2011). Corporate social responsibility. Available: http://en.wiki pedia.org/wiki/Corporate_social_responsibility#cite_note-0. Last accessed 21st Jan 2012.

Marketing Research Essay Example | Topics and Well Written Essays - 500 words

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Macroeconomic Objectives and Problems - Essay Example During this period it was clear that UK has been relying on ever-increasing levels of debt from booth private and public sectors. Macroeconomic situation during from this period has been characterized with instability in economic growth as well as high inflation rates, which have caused a reduction in real incomes (HM Treasury, 2012). Due to increased inflation rates, UK’s macroeconomic situation has exhibited weakening recovery of the economy. Inflation as identified is attributed to the 40% rise in the oil prices. In addition, there has been increasing instability and uncertainty resulting from euro area crisis, which has so far resulted into reduced confidence amongst households and firms (HM Treasury, 2012). Consequently, this has continued to worsen the macroeconomic situation within the UK. Even though there have been serious adverse effects of the 2008-2009 financial crisis, UK’s economy grew by approximately 0.8% in 2011 (HM Treasury, 2012). With manufacturing o utput growing by 2.0%, the overall GDP unfortunately fell by approximately 0.2% in 2011 thereby indicating instability in the macroeconomic growth (HM Treasury, 2012). ... (pp. 8-15) what is the concept of "fiscal sustainability" and why is it important in the budget strategy? (pp. 7-9) how effective are current policies likely to be? (pp. 18-21) In order to attain the four main objectives of macroeconomic, full employment, stable economic growth, favorable balance of payments, as well as stability in general prices, the UK government develop various strategies. Some of the current macroeconomic strategies developed include (HM Treasury, 2012): Strategies for making public finances attain a sustainable position in addition to developing fiscal targets for the government. This strategy is to ensure that other than stability within the public finances, UK’s economy will have fiscal policies that are credible enough to provide or caution against low long-term interest rates. Activating monetary policies within the economy in order to meet inflation targets whiles also enhancing availability of credit to various individuals and business entities tha t amy wish to privately engage in investment. Carrying out reforms within the financial sector. Such reforms are aimed at building resilience of the financial system whilst ensuring that there is reduced risk to the taxpayers within the economy. Strategically reforming tax in order to make the economy a competitive place that attracts business entities. With such attraction, UK will have more business entities creating more employment opportunities in a bid to attaining full employment macroeconomic objective. Rebalancing and strengthening UK’s economy for future purposes thorough The Plab for Growth. This will include a more lucrative package for investment meant to not only boost economic growth but employment status of the nation. 3. What were the main fiscal measures

My experience in SQM course Assignment Example | Topics and Well Written Essays - 1500 words

My experience in SQM course - Assignment Example I never thought of quality management being used in other departments or sectors including the public sector. However, after getting an opportunity to study quality management, I have come to learn that it is an integral part of every sector and all the departments in an organization or firm. Quality Management, as I have come to know, involves planning the operations and activities of an organization strategically with the aim of satisfying customer needs and achieving the visions of an organization. (Dale, Boaden, & Lascelles, 1994) Quality management is highly structured and detailed and focuses on different aspects to achieve the set goals. Through my study of Total Quality management, I have learnt that leadership is an integral part of quality management .According to Auckland (1993) quality management starts with the top management. The way an organization takes matters of quality is therefore dependent on the leadership structures in an organization. The top management should be comprised of people with personal commitment to matters concerning quality. The leadership of an organization needs to create clear and visible values. The leadership is the role model to the rest of the staff members for proper implementation of quality management strategies. I learn that for quality goals to be achieved there should be close relationship among divisions in an organization. This will help in clearly creating and communicating quality ethics. This understanding has enabled me to appreciate that even at the place where I work; there is need of the human resource department to work together with other sections and provide good leadership to attain the vision of the organization. Through studying of quality management I have been able to understand the role of benchmarking in achieving quality objectives. Before my study understanding of benchmarking was distorted. In Total Quality Management, benchmarking

Public Policy Analysis Essay Example | Topics and Well Written Essays - 2500 words

Public Policy Analysis - Essay Example This is one of the legislative ways the government of the USA came up with to control the market. In light of this, the paper will venture into the history of the act to try and establish its necessity. It will then create a prescription that will indicate who failed in operation for this law to be enacted. The impact of the law on business and society will be discussed followed by a review of literature as per the course content. The viability of the law will be discussed based on its strengths and weaknesses. History of the Policy and Current Situation The US financial market had witnessed a large series of frauds in the corporate sector in 2002. Some of the highly publicised scandals included some large companies like Enron Corporation, Tyco and WorldCom. Due to these market malpractices, there were serious consequences that saw Enron collapse in 2001 after filing for bankruptcy on December 1. According to Healy and Palepu (2003), the company was a power in the US energy sector ha ving been formed in the year 1985. This large success led the management to into venture production of other energy related products; natural gas, pulp, paper and communications sectors. A critical analysis of the operations of the company according to economic consultants indicated that the rise to stardom of the company was not genuine. Many accounting practices that were unethical had taken place which killed the trust of the public in the US large sector market (PriceWaterhouseCoopers 34). Together with scandals at other companies like WorldCom and Tyco International, the public truly believed that there are several accounting practices yet to be discovered. Due to these happenings where the greedy executives wanted to benefit from their positions in companies, the Sarbanes-Oxley Act of 2002 of 2002 was formed. It is also called Public Company Accounting Reform and Investor Protection Act of 2002 and abbreviated as SOX act of 2002 (Healy and Palepu 15). The SOX bill was signed i nto law on July 30 2002 by the then president George Bush and had provisions creation of reforms in the accounting and corporate business world by use of a board which it mandated, the â€Å"Public Company Accounting Oversight Board." The current position of the act has been a creation of corporate responsibility and it has seen a drastic overhaul of the entire US financial operations where there is a high level responsibility in management. This is a step that has highly reduced bankruptcy among companies. Having not created such an act earlier on means that the government had failed to implement its duties as this act was created as a matter of contingency. Public Prescription and Implementation of the Act As an act that was created as a matter of contingency, the act took care of the matters that were happening at the time and remained to take care of future similar matters. It was an emergency measure that made sure that the confidence of the public in the large business sector was restored. The policy has eleven chapters and each seeks to create accountability to the management teams of the large

The Use of Force Essay Example | Topics and Well Written Essays - 750 words

The Use of Force - Essay Example The story was simple and straightforward in narrative discourse which proffered the scenario between a doctor, the narrator, and a child, Mathilda Olson, who was being diagnosed for possible affliction of diphtheria. The setting was in the Olson’s house, where the doctor was initially ushered by the mother who eventually led him to the kitchen, where the father was holding the child and was apparently sitting on the father’s lap. The two items being compared in the essay is the doctor (the narrator or the healer) and the child (the person being healed). The current essay aims to provide a comparative analysis using relevant literary elements from the characters, theme, perspectives and points of views evaluated from the short story. The first point of comparison is the physical traits or characteristics of the items being compared. There is initially disparity in gender: the doctor was described as male and the child was female. Although no name was provided for the doc tor, the statements that gave way to his gender was the mother’s statements as she was talking to the child: â€Å"Such a nice man, put in the mother. Look how kind he is to you. Come on, do what he tells you to. He won't hurt you† (Williams, 2012, par. 15). The child’s gender was clearly identified by the doctor in the fourth paragraph when he vividly described her physical traits and characteristics; using adjectives such as: â€Å"her cold, steady eyes, and no expression to her face whatever. She did not move and seemed, inwardly, quiet; an unusually attractive little thing, and as strong as a heifer in appearance. But her face was flushed, she was breathing rapidly, and I realized that she had a high fever. She had magnificent blonde hair† (Williams, 2012, par. 4). Aside from gender as a point of comparison, the stature of the two is also anti-thetical. The doctor, by virtue of his profession, exudes professionalism and expertise on the most appropria te course of action for the situation. This is the reason why he was called by the Olsons in the first place. On the other hand, the child was

Favourite Brand Paper Essay Example for Free

Favourite Brand Paper Essay The brand that I identify with is tide laundry detergent. I love tide laundry detergent because there are 5 people in my house and a lot of laundry being done with Tide I am able to use less detergent for a large amount of cloths. It keeps the colors of the cloths bright and even if you have been using cheap detergent when cloths are washed with tide the colors bright. Tide also gets hard to remove stains out of cloths without having to pretreat the sting and soak cloths for a long period of times. I can also save money by using Tide because when using a less effective brand I have to pour more than the required amount to wash and the cloths deteriorate faster. When cloths deteriorate and look dull I have to spend more money to purchase cloths in a shorter amount of time. I do believe Tide Company has built a successful relationship with loyal customers because even during the recession Tide created a cheaper detergent called Tide Basic in order to accommodate its loyal customers during these hard times. The company has created a Tide detergent that can be used with cold water which saves on the energy bill. Loyal Tide customer has a lot of variety to choose from which helps maintain the relationship with the brand. This brand is focused on groups of all ages because it is efficient and has been around since 1946. The Tide brand for the younger generation helps them remember home and for the older generation it is familiar and a brand they can trust. Tide has a variety of detergent product such as tide pods eliminate odor and are pre-measured, Tide ultra-stain release removes 99 percent of stains, Tide to go instant stain remover to go it’s a pen that is small and can be carried around if you get a small stain on your cloths, Tide boost duo packs it has stain removing power without any dyes or scent, Tide total care for high efficiency washers, Tide ultra clean plus downy gives same clean feeling and soft cloths, Tide cold water great cleaning and save money no hot or even warm water needed, Tide alternative bleach wash whites without the need of using bleach, Tide Free provide ge ntle on skin, Tide febreze for individuals who play sports, all of these also come in powder form for those who do not like liquid detergent. This is another reason Tide caters to all  age groups there is something for everyone. The two competitor brands Whisk and Kirkland Signature Ultra. These two detergents are numbers 2 and 3 on the list of competitor detergents which was done by ABC news. I have tried both of these brands. In my opinion these brands are good but the stain fighting power is not as effective as tide. When using tide on my chef uniform which has food and oils from cooking kitchen smell was gone. I used both brands to wash my nephews chef uniforms and they were not as effective at removing dirt, grim and most of all the smell of food. Tide has also been featured in good housekeeping magazine. It was also named one of the must steal products because in recent years there has been a surge of theft with tide detergent. In conclusion Tide laundry detergent is a brand that has been around for decades. It maintains and brightens colors. Tide also has over 15 varieties from one that can be used on sensitive skin to cold water Tide that helps save money. Tide is a trusted brand and caters to their customer’s needs. They also have helped maintain the relationship by offering a lower priced detergent when the recession affected all individuals around the world. Tide does have some competition but it does not have all the varieties or report that Tide has with their customers. References http://nymag.com/news/features/tide-detergent-drugs-2013-1/index2.html /www.nytim http:/es.com/roomfordebate/2013/01/14/why-would-drug-dealers-use-tide-as-a-currency/tide-is-the-must-steal-product-of-the-season http://www.goodhousekeeping.com/product-reviews/home-products/laundry-detergents/best-laundry-detergent#slid

Special Effects

Special Effects Special Effects can be defined as a science and an art, which studies and applies the tools to fool human audio-visual sensory system, which perceive the events around us. Special effects focuses on making the unreal look alike real, or creating a non-existing event through a systematic approach. Motion film and television industry have undergone a lot of vigorous development stages during the past few decades. Out of them Special Effects and Visual effects are to name a few. But the impact of special effects in both areas is tremendous and outstanding. They played a very crucial role in making these two entertainment mediums more popular and amusing than the others. The very recent term, -Virtual Reality  was first introduced in Motion picture, when they portrayed scenes and characters which are impossible to exist in the real world. For example the Gorilla in the movie King Kong, and the robot transforming to a human being in the Terminator 1st part etc. They were very amusing at the time of these movies. Normal people could not imagine a scene where a Gorilla and a Dinosaur fighting. The first ever movement was Steven Spielberg„ ¢s Jurassic Park, in which hundreds of Dinosaurs were made artificially and animated. There are various arguments and concepts about the special effects in the motion picture and television industry. As a source for my thesis, I have studied various journals, magazines and books. The Journal called Elastic Cinema, raises few questions about the special effects and its application in the cinema and television. The recent developments in cinema show that the industry is not going to slow down in terms of special effects and virtual reality. The amount of special effects we use in the cinema today is increasing everyday and becoming more and more complex in nature. Whether these developments are economically affordable? Are they going to help the industry in a positive way? Can they still contribute to the society in a good way as how the classic films did? These are the questions raised by the movie buffs and the movie lovers. But, as the technology and the science grow bigger, their responsibility towards the society also gets bigger. After all cinema and television is an entertainment medium, the questions which are raised above become less relevant. Cinema„ ¢s primary objective is to entertain its audience. They some times amuse people in different ways. Special effects are considered to be the tool for creating this amusement. The literatures which I have gone through clearly state the different stages and the development phases of Special effects/Special Effects (VFX/SFX). They also discuss how the invention and the rapid development of Special effects changed the face of the cinema and television. The way cinema and television programs were developed and created have been changed by the invention and implementation of SFX. SFX has actually helped them to produce the -real  effect in the cinema. My study about the Special effects not only investigates the origin, development and the future of special effects, but also, its implementation in the industry and the software used in the production and development. Special effects have always helped the film and television industry to achieve what they have always desired for. They were in fact the cutting edge tool for perfection. They have helped the film makers to portray the future reality. We can now see what the future holds for the Special Effects. SFX has been through vigorous development for more than 60 years now. Its history is written in golden scripts. SFX acts as tool to bridge the present and the future reality in film making. SFX has changed the movies„ ¢ vision of making reality even more powerful. SFX has been successfully implemented in Science-Fiction cinemas. Their scope not only involves Sci-Fi movies but every areas of film production. Even the most normal and common movie or a television program we watch today involves a great deal of SFX implementation. Not every scene can be shot in real and SFX comes handy in these sorts of situations. There are two key concepts in SFX. One is Visual effect and the later one is Physical Effect. Visual effects are -any visual manipulation of motion picture frames, whether accomplished in cameras, projectors, optical printers, aerial image printers, front and rear screen systems  (Smith, 1986, p. 270). On the other hand Physical effects can be defined as -mechanical effects or practical effects that take place on the set during filming, such as explosions, wire tricks, bullet hits, etc.  (p. 264). Apart from these there is one more term which is very commonly used in order to indicate the -cinematic-illusion-of-reality , which is -reality effect  These are created by visual effects. The effect of Visual effect on the audients is different. They actually artificially produce events which are impossible in reality. The possibilities are even more. The point is that, they are very successful in convincing the audience about what they are seeing. Special effects involve more expertise and skills than the physical effects like a car explosion or a train derailment, which are actually shot in a protected physical space. On the other hand the visual effects create something that never happened in the actual world, like the auto bots transforming in to automobiles, or the massive war in the movie -Lord of the rings , which portrays more than a million artificial soldiers with out even leaving an animation feel in the audients„ ¢ mind. Visual effects in the early ages, for example, Superman (1978) has used a mixture of both physical and visual effects, they have used pre-filmed backgrounds with live action. However, in today„ ¢s world, visual effects can not only produce non existent illusions but also enhance the real-life-scenes. They help the film makers to reproduce or enhance the movie or a project with more detail. For example the latest version of Adobe After Effects and Adobe Premier Pro come with a lot of goodies in it like motion tracking and 3d layer editing etc.(www.adobe.com) Computer graphics in motion film and television is becoming more and more complex day by day. -Looking at effects films over the past few years, one could say that visual effects are following a kind of Moores Law, doubling in quality and quantity nearly every year . (Phil LoPiccolo (Editor-in-Chief), Computer Graphics World, January 2005, in the editorial note) What we see in the screen will become outdated in the next day when next movie come out. A great deal of enthusiasm and skill is required to do the special effects in the way the director and the author visualize it in their mind. As Phil LoPiccolo states, SFX is following the Moore„ ¢s law. The complexity and techniques keep doubling every day. The movie Lord of the Rings for example, casts nearly 70000 animated soldiers in a battle in the first part. The complexity and the number of effects has quadrupled by the third part in which they portrayed nearly 225000 animated characters and more than 1800 effects featur ed. Computer graphics and 3D imaging has become more common and complex and also helped the movie to become more popular. The invention and the implementation of 3D imaging have revolutionized the Special effects and the movie industry. These days, movies with out special effects are very less and are considered odd. They are fuelling mechanism for commercial cinema. As we all know, not every scene is practically possible to shoot live, even in controlled environments. Special effects come handy in such cases. After the 1980s, digital imaging and special effects have started revolving around three major area, they are digital characters, digital world and digital events. Technical experts in the early years had predicted that the technological advancement in the motion picture will replace the use of photographic techniques and the use of film eventually, but as of now, their enthusiasm seems very immature and inappropriate. History of Special Effects There are various methods to create a special effect. They can be generated through animation, miniatures or matte shots. Cartoons are a very good example of animations, they can either be computer generated or shot by a stop motion camera. The -illusions-of-reality  in the early stages were generated by using paintings, miniatures, and false back grounds. Miniatures are used everywhere. Whether it is a small scale production or a large scale one, they are a very important factor of special effects. In early ages of special effects, film makers used live action combined with a false background or another play-back-scenery, which is done by another rear-projector. This technique is called -rear projection . But as the era of colour film began, these systems showed instability in terms of the light and shadows, they were difficult to achieve in the same amount. So the system called -front projection  was implemented, where the camera is placed in the same place as the projecto r is placed. Then came the technique of fast and slow motion. These effects are achieved by adjusting the frames per second aspect of the film shot. Normally a film is shot in 24 frames per second, anything grater than this will slow down the motion in the screen and vice versa. We can clearly see that these above mentioned techniques are achieved by manual operation, in other words they are camera techniques. Computer aided film development and special effects were invented in a later stage. The combination of both computer and the film technology has given the film makers the advantage of -illusion-of-reality . They could easily manipulate and enhance the movie by using computer technology. A new era of sci-fi movie has begun with the invention of this technology. The technology brought them the ability to create physically impossible events in the silver screen and in the television. Graphics and animation can be easily created with the help of a computer. These computer generated graphics are then combined with live footage with the technique called -Analogue Image Synthesis . Film is once scanned and exported to computer graphics, they are then manipulated by graphics and motion authoring software like After effects, combustion, 3DS Max, Maya etc, also they can include more animated and non animated objects in this computer generated film. Once the editing and compositing is completed, they are then exported to film again. Another process include in the digital manipulation include -Digital Compositing . It is used to render the non-live objects into the film like dragons, fire etc. They uses miniatures and then capture its movements and converts them into actual movements in a computer software. Such innovations have fuelled the computer aided special effects in motion pictures. George MÃÆ'ƒÂ ªlÃÆ'ƒÂ ©es, a Parisian magician is known as the inventor of many techniques in special effects until the date. Many of his techniques are still use such as motion stop camera, substitution shot, double exposure etc. He has also agreed that some of these techniques are accidentally happened. For example, the substitution technique has happened when he was shooting a moving mob. He stopped the camera for some time and restarted it from the last point. When he projected the final film, he was astonished to see that people disappearing from the screen. Later he used this technique in many films. This incident is considered as the first special effect ever. During the early years, films were only few minutes long, especially in between 1890 and 1910. They were 10 to 15 minutes long. They included simple common scenes like people moving or a market place, a town centre, a train station etc. Audients only wanted to see the moving pictures at that time; they were very much satisfied with the idea. Sooner movie makers started telling stories. These stories included real characters and film sets etc. During the First World War, they started making feature length movies (90 minutes long), which is forefather of today„ ¢s motion picture. A movie called -The Great Train Robbery  which came out in 1903 directed by Edwin Porter. The movie used a matte painting effect in order to make the train passing cast through a window. They shot the train passing in the first sequence and they rewind it and recast the window matte. Everything was blacked out except the window. When the final film was projected people could see the train trough the window. This effect is said to be the first ever special effect using matte. As the time passed by special effects become more complex and they started creating more and more realistic as the audients become more sophisticated. Since the 1926, the special effects were called as trick shots. During the 1920s European Film studios have started equipping special departments for special effects. Special effects had become a very important element of any motion picture by that time. As the time passed by and the audients have become more sophisticated, it had become almost impossible for film makers to fool audients with the normal techniques therefore they had to come up with more ideas. Then they invented the technique of the travel matte. In the middle of the 20th century, with the invention of digital techniques and computer technologies, special effects have become more sophisticate and powerful. It has reached a level that even the whole movie could be produced with out any exterior exposure or shooting. This era of movies contains more than thousands of special effects and shots in a single movie. Special effects have a rich and a vast history which is dated to the early 17th century, where magicians have become a part of the society. They used to use many techniques to fool the public; they used to do optical illusions to entertain their audients. Their techniques are said to be the base of special effects. One of the earliest effects is said to be the -summoning of the dead , where the magicians used the semitransparent sheets of historic people to project a ghostly type of motion. The equipments which they used to do this optical illusion have become very famous in the late 1970s. The first motion picture ever was made in 1985, sound have become a part of the movie only after 32 years. Motion picture had to travel through a lot of revolutionary changes until it reached midst of the 20th century, only then special effects have found its way to the movies and television. In 1896, Robert W. Paul has developed a commercial film projector with Thomas Edison„ ¢s Kinetoscope. He has built Europe„ ¢s first film studio with all the necessary equipments like Dolly track and trap doors etc and produced his first motion film with few special effects in 1905. 20th century has seen many of the revolutionary developments in the special effects world. With the computers involved in the editing and the manipulation a new era has begun for the motion pictures and television. They could create virtually anything with the help of computers; let it be a building or people, or even a sequence of actions or events. Special effects have finally found its extreme heights with the help of computers. Digital Technology The computer aided designing, sound editing and authoring, special effects etc have revolutionized the motion film industry in the late 1990s. One of such movies which have implemented the extensive use of computer technology ever is Forrest Gump (1994), which cast an actor whose legs are blown off in a battle. They used the computer technology to erase his legs after the footage was shot. This movie is said to be the first movie which has successfully combined both the blue screen technique and computer graphics. Role of Software in Special Effects Software like Maya, Adobe after effects, Avid and 3DS Max etc have revolutionized the special effects galore in movies and television industry. They helped special effects creators to create, manipulate and animate the 3D models and create virtual scenes to create the virtual reality. Software like After effects and Combustion Studio have helped the creators to modify and blend the shots with the virtually created scenes, while maya and 3DS max stood for creating the backgrounds and miniature models and giving them the 3D aspect. These softwares being the industrial standard for special effects and 3D authoring, there are many more tools emerging day by day. As a successor to all these visual editing and creation tools, sound editing and authoring has also become a part of industry and also a part of the special effects. They could be both combined and used together in a successful way. Now, live-shots and editing could be done side-by-side using adobe after effects and such tools us ing the new timeline feature which they provide. Objective As an MSc student, my objectives are to narrate the history and the development of Special effects and stating its influences, motivations and advancements in different stages of its development. Also, identify the current scenarios and predict the futuristic developments and depict some of the techniques used in today„ ¢s world. The software which I mainly use to depict the techniques in this dissertation are 3DS Max and Adobe after effects. I use 3DS max for creating 3d objects and giving them movements and creating the environment. SPECIAL EFFECTS IN TELEVISION For most of the part, television is not considered as real, all that we could see fit in that tiny little box. It is a small little world what we see and the audients believe it. Televisions simulate the ideas; they do not shoot real events like the motion picture. In fact they can manipulate them to real-like events because the frame is very small. Being so unreal, television also will have to deal with the real world as well. It can be said as the combination of both real and unreal. CREATING SPECIAL EFFECTS The visual effects which we see today are mostly generated from a combination of both modern and traditional methods. Getting the right effect on the right time requires more planning and organizing. Visual effects peoples job starts right before the actual production of the movie or a TV commercial. They have to plan things and shots. They also discuss the possibilities and the credibility of the particular shot and the special effect to be used. The techniques range from reproduction of sequences to compositing multiple frames and creating miniature digital models and motion tracking the machines etc. There are certain problems though, creating special effects with the moving camera is not an easy task, it is unless we use a locked off camera, but once the camera starts moving, the special effect crew will have to track the camera movements too, and then only they could actually recreate or manipulate the specific action or the event. Such problems and obstacles should be discussed prior to the production of the film or the feature.

A Study of Gladiator Essay -- Papers Film Cinematography Directing Ess

A Study of Gladiator This is a study of the 1999 box-office hit, Gladiator, starring Russell Crowe. In this article, I will be looking at camera shots, soundtrack, special effects and other things, that enhance the viewing of the film, and increase its quality. We watched the first forty minutes of the film, and were asked to analyse its media attributes. The film is set in the Caesar period, at the end of the reign of Marco Aurelius. The main opening scene is set in Germania, and it is the beginning of a battle, but the end of a war, between the Roman legion and some barbarians. The very first scene is not a reality shot, it's a "dream" shot. The scene itself is at Maximus' home, in his cornfield, walking along, while brushing his hand through the wheat. This scene shows that while Maximus is a great general and a noble leader, he really would like to go home, to see his wife and child. The camera angle used in the scene shows the view from Maximus' legs. Having shown this dream, the film quickly proceeds to the next scene, which starts off showing Maximus looking at a robin. This is good for the scene; it could be filmed showing Maximus' last look at peace before he goes into battle. The shot is filmed through Maximus' eyes, then zooming out to show that it is Maximus looking at the robin. After this scene, Maximus is shown talking to Quintus about the battle ahead. Quintus asks Maximus about the range, because he is concerned that they are not close enough, but Maximus replies, "the range is good." This shows Maximus' confidence, and this obviously shows he is experienced in battle and an influential leader. Maximus the... ...ding back to his own home as fast as he can. The film also shows shots of the pictures running through his mind, his family being killed by Roman soldiers, his little son being trampled by the cavalry of horses. He arrives back to his home after at least a day of solid riding, and he is distraught. He dismounts the horse he escaped on, stumbles over towards his house, and sees a horrific sight; his wife and son, hung from the porch. The camera is positioned behind the two hanging bodies, and shows the bottom half of these, and Maximus' face, as he collapses on the floor in exhaustion and sadness. This is only a study of the first forty minutes of Gladiator, yet there are a huge number of different camera angles and techniques. This continues throughout the film, and shows true directing quality by the films director.

Belize Logistics Essay -- Belize

The history of Belize dates back thousands of years. The official name of the territory was changed from British Honduras to Belize in June 1973. â€Å"The current government of Belize took form when they declared their independence in 1981. This government is headed by the Queen of the United Kingdom, Queen Elizabeth II, who is acting head of state. The Queen is represented by a Governor General due to her having to reside in Great Britain. The Governor General is the true authority in power; however, he does not officially run the government that is led by the Prime Minister and his cabinet. Currently in the Senate there are 12 members, plus the President of the Senate. The Governor General appoints 6 senators on advice of the Prime Minister, 3 on advice of the leader of the opposition, one member on the advice of the Belize Council of Churches and Evangelical Association of Churches and two other members from two separate organizations.† (http://www.islandflave.com/caribbean-politics/615-belize-politics) â€Å"Belize has a public-private economy with tourism as the number one foreign exchange earner followed by exports of marine products, citrus, sugar, bananas, and garments. Agriculture currently provides some 71% of the country's total foreign exchange earnings, and employs approximately 29% of the total labour force. Belize has a viable fishing industry. Belize's fisheries are exploited for commercial, as well as for subsistence purposes, and are one of the most heavily exploited natural resources. In an effort to maximize the benefits obtained from the fishing industry, while ensuring its long-term viability, fisheries managers are promoting an expansion in production through diversification of this resource base. Belize's fishin... ...m/Does-Donts.htm http://articles.cnn.com/2006-11-30/travel/if.you.go_1_belizean-belikin-beer-dos?_s=PM:TRAVEL http://www.customs.gov.bz/traveller.html http://belize-guide.info/travel.basics/customs/ http://www.voyage.gc.ca/countries_pays/report_rapport-eng.asp?id=29000 http://www.belizefirst.com/MoneyandBankinginBelize.htm http://gocentralamerica.about.com/od/belizeguide/p/BelizeSafety.htm http://www.paradisepath.com/belize_safety.htm http://www.belizedistrict.com/tips.html#safety http://belize.com/medical-care-in-belize.html http://www.guidetobelize.info/en/yellow-pages/belize-health-care-medical-current-guide.shtml http://www.fco.gov.uk/en/travel-and-living-abroad/travel-advice-by-country/north-central-america/belize http://www.islandflave.com/caribbean-politics/615-belize-politics http://www.islandflave.com/caribbean-politics/615-belize-politics

Total Quality Management Essay -- business, TQM, productivity, perform

Before diving into the ideology of Total Quality Management, we need to have an understanding of what the term Quality means. The term quality is frequently used to signify the level of distinction of a product or service. The term ‘Quality’ in some engineering organisations may be used to specify that a piece of metal conforms to a definite physical dimension and characteristics often set down in the form of a particular ‘compact’ specification. The motion of quality development generally and total quality management in particular have become very popular in America during the past three decades. The fierce competitiveness of the global market is the force that generates this motion. As the parallel rebuff of the American economy in the late 190’s became perceptible, many U.S industries started transforming the traditional way of doing business into an organisational approach paying focus on the continuous development so as to become comp etitive. America in the 1980’s embarked on the journey for the Quality development motion journey. The prestigious Malcolm Baldridge national quality award is the most distinguished symbol of America’s quality revolution (Hiam, 1992). Actually, quality has been one the private sector’s principal concentrations for a long time. The fact still remains so today. In the early years of the quality trend, the focus on quality was on quality circles (Barra, 1983), quality control and quality assurance (Ishikawa, 1991). The top plan of many organisations in the private sector’s to improve and develop on quality, productivity and competitive position is the drive for total quality management (TQM) (Hunt, 1992). Since the 1990’s TQM has started to be extensive beyond the private sector ... .... 2. Chartered Quality Institute (2013) Total Quality Management (TQM). [Online] Available from: http://www.thecqi.org/Knowledge-Hub/Resources/Factsheets/Total-quality-management/ Accessed on 21st Oct, 2013. 3. Prof. Bagad, V. S. (2008) ‘Total Quality Management’ in Total Quality Management. India: Sharniwar peth. 4. Tolsma, Denis (2011) ‘Total Quality Management’ in Macro-organizational factors. Switzerland: Geneva. 5. Rawlins, R. A. (2008) ‘Total Quality Management’ in Total Quality Management. Indiana: Bloomington. 6. Phu, V.H. (2011) ‘Historical Evolution of TQM literature’. Total Quality Management Approach to the Information Systems Development Processes: An Empirical Study. 1,2 : 10-11 7. Inc. (2013) Total Quality Management (TQM). [Online] Available from: http://www.inc.com/encyclopedia/total-quality-management-tqm.html/2 Accessed on 27th Oct, 2013.

Dansk Minox Case Study Essay

Introduction My name is Kevin Chen and I am a senior consultant of the Boston Consulting firm. Per the request of the A/S Dansk Minox, a food products manufacturer, I am preparing this analysis to identify the existing problems within the business of A/S Dansk Minox and provide possible recommendations. As a consultant, I will present the analysis without bias and for the best benefits of A/S Dansk Minox. In the following analysis, I am going to answer the following question: Should A/S Dansk Minox bring the new product, complete meal, to the market?Company backgroundThis case is set in Denmark in 1967 when the â€Å"boom† in consumer food products was just beginning more working mothers, more disposable income, more choices in convenience food products. A/S Dansk Minox, a company in Denmark, specializes in manufacturing a variety of vacuum-packed meat and other products. DM has about 30 products and has a great position and brand in the market. A/S Dansk Minox provides the vacuum packed products and consumers combine the vacuum packed packages along with the homemade salad for their meal. Through consumer research, A/S Dansk Minox recently identifies that there is a huge market potential for vacuum packed complete meals. The meal contains a standard â€Å"sliced pork in gravy†, the product that A/S Dansk Minox is making, with 550 grams of red cabbage salad. Vacuum PackingVacuum Packing is a storage method that preserves variety of food. For example, pork, beef or vegetables. If properly refrigerated or frozen, vacuum packaging works well in keeping the food fresh for longer periods. The plastic bags are usually used to vacuum packaged. The air is removed creating a vacuum in the bag and the food is left in the bag. In order to maintain vacuum, the bag is sealed. By the researches from Fante’s Kitchen Wares Shop, there are a lot of benefits for vacuum packing:1. Longer storage life of foods. According to researches, foods maintain their freshness and flavor 3-5 times longer than with conventional storage methods, because they don’t come in contact with oxygen. Due to the elimination of air to absorb the moisture from the food, vacuum packing prevents dry out of moist foods,Because bacteria mold and yeast cannot grow in a environment without oxygen, foods maintain their original appearance. Insect infestation is eliminated because there’s no oxygen coming in the bag. The production process of vacuum-packed products can be illustrated by the flow chart 1) attached in appendix. Business environment:The current business environment that A/S Dansk Minox operates in can be analyzed as follows. Threat of New Entrants and Barriers to EntryAs the customer research done by A/S Dansk Minox revealed, there is still market opportunity for the vacuum packed products. In order to produce vacuum packed products, for example pork, vegetables, it is necessary for companies to purchase the production equipments for the procedure of vacuum packing, meat cutting, sorting and packaging. It is crucial to purchase the machines that reduce production time and cost, increase efficiency. Therefore, in order to enter into this market, the initial capital investment in purchasing equipment could be substantial and it creates barriers to entry. However, the equipments are relatively easy to operate, so the training cost and time to the workers could be minimal. Moreover, the food product manufacturing industry is not technology intensive and the equipment could be purchased in many distributors, this factor in turn makes the new entry easier. Also, once the initial machines purchased, it is relatively easy to introduce new product lines. Intensity of Rivalry Among CompetitorsThere are a number of vacuum-packed cooked products manufacturers also in the business. Certain competitors of A/S Dansk Minox are expanding aggressively and had already introduce the red  cabbage salad in vaccum-packed, canned or frozen form. There is low differentiation among competitors and price is the key factor in this particular industry. Due to the high initial investment, the potential exit barriers could be high in this diverse competitive industry. Product SubstitutesFor this particular product of vacuum-packed red cabbage salad, the Danish housewives very often make it on their own. Therefore, the family could choose make the salad or buy it from A/S Dansk Minox. The switching costs are fairly low and the family could have a choice of buying the products from other manufacturers if the price and quality match their standard. In term of food storing methods, the red cabbage salad could be in the canned or frozen form as well. They are the substitutes depend on the family’s preference and evaluation of price and quality. SuppliersThe suppliers of A/S Dansk Minox are the vendors that provide raw material of pork, cabbage and other possible material for the process of packaging. Since pork and cabbage are consumption goods, the price is affected by the demand and supply of the material. Luckily for A/S Dansk Minox, the suppliers will not have huge bargaining power since the material of pork and cabbage is wildly available in the market and the supply chain is considered to be relatively stable. BuyersSince the pork and salad are very popular food in Denmark, so the potential buyers of the product could be anyone in the country. Since people now have more disposable income to spend on food products, also the vacuum-packed products like pork and cabbage are wildly considered as more convenient products,More specifically, the women in the work force, working mothers, represent the increasing portion of the buyers. Since this salad is quite time-consuming to prepare at home, the working mother prefer to purchase pre-prepared vacuum-packed products. The complete meal products are the perfect products for them. Company Strategy:The strategy of the A/S Dansk Minox is Cost leader. A/S  Dansk Minox is operating in a large market and the potential customers could be any family in the country. The demand of vacuum packed product by is highly elastic, which means the demand of the products are highly influenced by the price. In order to maintain a competitive price and compete with the competitors, A/S Dansk Minox produces the products massively. Strength:Biggest strength of the organization is the brand loyalty that already exists. Having 30 products in the market, A/S Dansk Minox is wildly recognized by the consumers and is a trusted name. Once the new products introduced, it could enjoy the benefits of being a line of the company. Opportunity:By conducting a consumer research, A/S Dansk Minox recently identifies that there is a huge opportunity for vacuum packed complete meals, even the competitors already introduce the ready-made red cabbage salad to the market. The opportunity came from the facts that the disposable income of people increases, resulting in more spending on food products. More and more people prefer convenient food to making it by themselves. In addition, the ready-made combo of â€Å"complete meal† is especially to working mothers, who want to reduce their time on the time-consuming salad dish. The percentage of working mother in the work force is expecting to increase in the future, reflecting the great opportunity of introducing the new complete set product. The major problem that A/S Dansk Minox facing now is: Should A/S Dansk Minox bring the new product, complete meal, to the market? If yes, then how much the unit price should be?The price is uncertain due to the cost allocation problem raise by the new product, leading to long discussions between the marketing and finance departments. Company identifies the cost driver as ‘per kilogram’ of material and the new product price at D.Cr 8.20 is proposed by finance department. Marketing department suggests that the cost driver ignores the price of cabbage is way cheaper than pork, however allocating a similar overhead cost. Hence they proposed a price of D.Cr 6.85 for the combo pack. In order to find the solution for the problem above, I will examine the  following three alternatives:Summary of alternativesABCStatus Quo: Not introduce the â€Å"complete meal product†; abandon the new projectIntroduce the â€Å"complete meal product† at a consumer price of D.Cr. 6.85Introduce the â€Å"complete meal product† at a consumer price of D.Cr. 8.20Alternative A: Status QuoAlternative A is to abandon the new project of New Pack – not to introduce the â€Å"complete meal product†. As the new product will not be introduced, it will generate no additional profit to the company, i.e. the profit in 1966 will be the net profit without the introduction of the new product. Consequently, the pricing arguments between the marketing and finance departments of the Danish company will no longer exist. In addition, since the new product is not introduced into the market, the customers of the standard pack will stay with the products. Accordingly, th e sales of the old product will continue to rise in response to the increase in the market demand. Alternative A: Not introduce the â€Å"complete meal product† New PackSales:0Total variable costs0Allocated fixed costs0Profit0Alternative B: Introduce at a consumer price of D.Cr. 6.85Since there was spare capacity available for the production of the new â€Å"complete meal† product, the total amount of the fixed costs will not change due to the proposed production of the new product. Also because these fixed expenses are costs that have already been incurred and that cannot be recovered, they are considered as sunk costs. In business decision-making such as the decision to add or drop a product or service, only incremental costs (variable costs) are relevant to a decision. Therefore, the full costing method (the standard cost accounting) – the attempt to allocate the company’s fixed costs to the different products produced during a certain period of time, is not appropriate for this type of management decision making. The proper approach to support decision making to improve a company’s profitability is a contribution analysis:Revenue – Variable Costs = Contribution Margin per unit(Contribution Margin per unit x total units produced) – Total Fixed Costs = Incremental Profit/LossAs a result, the company’s profit in 1966 will be increased by $99,450 (See Table 1 for detail) if the new product is introduced at a consumer price of D.Cr. 6.85. Compared to Alternative A, A/S Dansk Minox is better off by the increase of $99,450 in profit. In the event that the company is not capable to produce 85 tons of new products, the profit increased above will not be achieved. From the table shown below, in order to achieve the profit by selling 30 tons new products at D. Cr 8.20, we need to at least sell 52 tons of new product at D. Cr 6.85. Contribution Margin for a consumer price of D.Cr. 6.85 x Minimum sales volume= incremental profit for introducing the product at a consumer price of D.Cr. 8.201.17X = 60,900 *X = 52,051* see alternative C for detailLong term decisionHowever, the contribution analysis is primarily useful for short-term decision-making. For the long-term purpose, the company still needs the full costing analysis to calculate the profit of each product. Within company’s capacity, the production Fixed Expense for the new â€Å"complete meal† will be the same as existing products as D.Cr. 0.54 per kilo. All other overhead will be the same as the existing product as well. In the event of exceed capacity, need to allocate additional Production Fixed Expenses. in order to get the correct number of profitability, A/S Dansk Minox needs to find an appropriate cost driver to allocate the production fixed expenses. As indicated by the marketing department, the total sales quantity (expressed in kilograms) may not be a proper way to allocate the fixed costs. A/S Dansk Minox could consider using the selling price of product as the allocation basis, since the consumer price is more relevant to the fixed overhead and better matching expense with profit. Therefore, from the following table, we proportional apply the Production Fixed Expense:new packStd.Pack6.854.85X0.54X=0.76Therefore, in the long run, 0.76 production fixed expense should be allocated to 1 Kg of â€Å"complete meal†. Please note that we assume selling price at D.Cr. 6.85. In the case of retail selling price as D.Cr. 6.85 and with an allocation of D.Cr. 1.20 for production fixed expenses, the total unit cost will be D.Cr. 5.22. Alternative C: Introduce at a consumer price of D.Cr. 8.20In spite of the marketing department’s arguments, company could decide to set the price at D.Cr. 8.20 so that the full fixed expense could be covered. In this case, the uncertainty of allocating fixed overhead is eliminated and the company ensure that the new product is making profit. However, the selling price is too high for the customer in turn decreases the competitiveness of the product. Therefore, the product could be sold at a lower volume than it is budgeted. In the following, we reasonably assume that the sales volume drop to 30 tons when the price is at D.Cr. 8.20. Please see table 2 at appendix for detail. The profit in 1966 will be increased by $60,900. Compared to Alternative A, A/S Dansk Minox is better off by the increase of $60,900 in profit. ConclusionsIn order to better evaluate and compare all the qualitative and quantitative alternatives we analyzed above, we need to take into consideration of certain key decision-making criteria:1.Improve profitability (measured by contribution analysis, short-term decision making)Increase profitability and improve shareholder equity is the primary goal of a company. By improving profit, the company’s cash flow is possibly increased, so that company’s ability of meeting liability is enhanced. In the event of possible investing opportunity arises, the company will be financially flexible enough to take it. 2.Consistent with the corporate strategyThe alternative we take should be consistent with the strategy of the company, so that the action will be towards the company goal and will be sustainable. 3.Lost of customers by the Standard PackTo better evaluate the alternatives, some important qualitative factors should be considered, potential lost of customer by standard pack resulting from the introduction of the new product is one of them. 4.Within capabilityAre the alternatives attainable? Or they are out of the capacity of the company and will not be able to achieve?The following table shows how we compare the different alternatives by applying these criteria:ABCStatus Quo: Not introduce the â€Å"complete meal product†; abandon  the new projectIntroduce the â€Å"complete meal product† at a consumer price of D.Cr. 6.85Introduce the â€Å"complete meal product† at a consumer price of D.Cr. 8.20Improve profitability using contribution analysis (short-term decision making) NoAssuming 85 tons of new products are sold at price of D.Cr 6.85, so the profibility will be improved by D.Cr. 99,450Assuming 30 tons of new products are sold at price of D.Cr 8.20, so the profibility will be improved by D.Cr. 60,900. Consistent with strategyN/AThe company’s strategy is cost leader, the price of D.Cr.6.85 is consistent with the company’s strategy and increase the competitiveness of the company.The company’s strategy is cost leader. the price of D.Cr.8.20 might be too high for certain customer, resulting in losing the competitiveness of the company. Lost of customers by the Standard PackNoIt is confirmed that there is still a great untapped potential for the new product so the customer will continue to buy both new and old products. Sales of standard pack will not be affected.Since there is still a great untapped potential for the new product so the customer will continue to buy both new and old products. Sales of standard pack will not be affected. Within capabilityN/AThere are spare capacity available for the company and the production will not exceed at this moment. If the new product keep increasing in the future, there is possibility of exceeding budgeted capacityThere are spare capacity available for the company and the production will not increase too much due to the high selling priceIn conclusion, by comparing the alternatives against the key decision-making criteria, alternative B, which introduces the â€Å"complete meal product† at a consumer price of D.Cr. 6.85 is the best option for A/S Dansk Minox. Since the main goal for A/S Dansk Minox is generating higher cash flow, improving profitability should be the primary criteria that we should consider in decision making. Alternative C improves profibility by D.Cr. 99,450, which is D.Cr 38,550 higher than alternative B and D.Cr 99,450 higher than alternative A. Moreover, alternative B is consistent with the company strategy. From the content that we demonstrated previously, the business strategy of the company is cost leader. A/S Dansk Minox produces the products massively in order to keep a low selling price and match with the competitors. Therefore, introducing the new product price at D.Cr. 6.85 does a better job in fitting in company’s strategy than the other alternatives. In addition, alternative B will not have huge impact to the existing products and it works within the capability of the company, comparing to other options. Recommendations A/S Dansk Minox is facing an exciting opportunity of introducing a new product line that could possibly increase the profit hugely. We highly recommend the company introduce the new â€Å"complete meal† at price of D.Cr. 6.85, also taking the following steps:1.Introduce the â€Å"complete meal† to the whole company and the public as soon as possible in order to let more people know about the new product. 2.Inform the production department and add the new product into production plan. Evaluate the difficulty of implementing the new product line. 3.Inform the marketing department. Ask for possible promotion theme and plan that could make the biggest sales impact. 4.Call retailers at each level of selling channel regarding the introduction of the new product. 5.after few months, conduct customer research in order to evaluate the success of the new product or possible commandsNot only alternative C is a solution that relatively easy to be implemented, it is also expected to generate highest cash flow to meet the company’s operating goal. By setting the price of new product at as low as D.Cr. 6.85, the demand of the product remains high and the company strategy of cost leader will be maintained. Introducing the new â€Å"complete meal† increase the competitiveness to utilize  the company’s strength and help company to survive in this highly competitive market. Appendices:Flow chart 1)Table 1Alternative B: introduce the â€Å"complete meal product† at a consumer price of D.Cr. 6.85New PackConsumer Price6.85Turnover Tax(0.76)Consumer Price Before Tax6.09Retailer’s Margin (1.31)Price to Retailer4.78Variable Costs:Material: Pork 1.67Labor: Pork 0.25Material: Cabbage 0.5Labor: Cabbage 0.25Packaging 0.26Transportation, Storage0.2Margins and Discounts to Wholesalers 0.38Sundry Variable Costs 0.1Total Variable Costs(3.61)Contribution Margin1.17Sales volume @ 85 tons 1x 85,000 kgIncremental Profit99,4501 Assume the actual sales volume of the â€Å"complete meal product† is the same as the sales budget when the â€Å"complete meal product† is introduced at a consumer price of D.Cr. 6.85. Table 2Alternative C: introduce the â€Å"complete meal product† at a consumer price of D.Cr. 8.20New PackConsumer Price8.20Turnover Tax(0.91)Consumer Price Before Tax7.29Retailer’s Margin (1.57)Price to Retailer5.72Variable Costs:Material: Pork 1.67Labor: Pork 0.25Material: Cabbage 0.5Labor: Cabbage 0.25Packaging 0.26Transportation, Storage0.2Margins and Discounts to Wholesalers 0.46Sundry Variable Costs 0.1Total Variable Costs(3.69)Contribution Margin2.03Sales volume @ 30 tons 1x 30,000 kgIncremental Profit60,9001 The actual sales volume of the â€Å"complete meal product† is 30 tons when the â€Å"complete meal product† is introduced at a consumer price of D.Cr. 8.20bibliographiesA/S Dansk Minox Gordon Shillinglaw, Columbia University ISBN 0-538-88967-5 to Accounting

The Contributions of Women

Psychological Testing Movement: The Contributions of Women Robin Kelly-Dunton California State University, Sacramento In investigating the origins of the Psychological testing movement what I found most fascinating is the originality, strength, brilliance, and sheer talent of the women whom contributed to this era. It was interesting to find out the key roles different women played in the shaping of testing, development and applied methods in psychological test.A prime example of the various contributions women made to the testing movement is the Draw-A-Man Test also referred to as the Goodenough-Harris Drawing Test (Schultz, 2012 p. 72) which was developed by Florence Goodenough who received her doctorate from Stanford University in the early twentieth century. The test design was essential in assessing the intelligence quotients for children. What made this IQ examination unique is that it presented a non-verbal format in which children could identify and respond to even with their limited language ability.Goodenough's reputation certainly surpassed her name in that she perform exceptional work at the Institute of Child Development at the University of Minnesota for over twenty years and during this time she published a detailed review of the sychological testing movement and several books on child psychology. Another unique women of this period was Thelma Gwinn Thurstone who because of the discrimination of the era was forced to work on her husbands L. L.Thurstone's projects because any published work by her would be dismissed by the zeitgeist of the day. What I found amazing was that she actually helped develop the Primary Mental Abilities test battery, which was a group of intelligence test and she went on to become a professor of education at the University of North Carolina and director of the Psychometric laboratory their. In fact, when her husband commented on her abilities he was sure to call her a â€Å"genius in test construction† (Schultz, 2 012 p. 172).I was especially proud to read of the successes and contributions of Psyche Cattell the daughter ot James Cattell who would not invest in ner college education because â€Å"he thought that she was not smart enough† (Schultz, 2012, p. 172). Psyche Cattell's name was far from her uniquest quality for she went on to receive a Ph. D. from Harvard University and from there worked to extend the age range of the Stanford-Binet test downward with the Cattell Infant Intelligence Scale. This test was utilized to test the intelligence of infants as early as three months.The courage of Anne Anastasi was quite inspirational who based the principle of her success on the fact that â€Å"cervical cancer† which hit her at twenty five a year into her marriage left her sterile and childish. Because she escaped the primary role of motherhood almost commanded upon by most married women of her generation she was able to focus on developing herself as a psychologist. Anastasia e stablished herself in the field with a long career out of Fordham University and established herself as a primary authority on sychological testing.She started college at the innocent age of fifteen and earned her doctorate by twenty one. One of her foremost mentors was Harry Hollingsworth who inspired her to write over one hundred and fifty articles and books, including an extremely popular university textbook on psychological testing. The epitome of her career was her time served as APA president in which she received many esteemed honors. Her largest achievement was the National Medal of Science. In fact one survey named her as â€Å"the most prominent female psychologist in the English- speaking world