Thursday, July 9, 2020
Delloyd Engineering Sdn Bhd (Delloyd) specializes in the production of precision metal castings that are components used in the automotive industry. The company is considering automating part of the production process by considering the purchase of the Vulcan Mold Maker, an automated molding machine. The company has proposed to allocate RM 1 Million towards investing into the new molding-machine proposal, and will make a decision on whether to retain the current Semi Automatic Machines or proceed with the investment into the Vulcan Mold Maker. The decision will be based on the net incremental cash flow projected through cash flow forecasts, along with relevant qualitative characteristics and a cost-benefit analysis. 2.0 Assumptions used in preparation of the cash flow for Vulcan Mold Maker and the Semi Automatic Machines Two cash flows have been prepared to project the estimated cash inflow and outflow associated with using the Semi Automatic Machines and the Vulcan Mold Maker for eight years. An eight-year period was chosen for both cash flows as the Vulcan Mold Maker will be fully utilized and depreciated in 8 years time. This is to ensure comparability of the net cash flow for both options available. There are a number of assumptions made and these assumptions serve as the basis for the preparation of the cash flow statement. Firstly, total sales volume need to be determined in order to calculate the cash inflow from sales. The figure used in the cash flow is RM280 million, which equals to the expected sales for calendar-year 2000, provided in the case. It is assumed that the sales figure remains constant over the years for both the machines. This is because the figure is determined by market demand for the moldings and not influenced by the production level of the supplying company. To simpl ify the cash flow presented, factors such as economic downturn and inflation are assumed not to affect the total sales for Delloyd. [NOTE 1] The total cost of goods sold is calculated as a balancing figure by setting the gross profit margin at 35%. The gross profit margin was calculated based on an estimation of the industry average rate. Cost of goods sold consists of direct labour and direct material cost. Direct labour cost for both machines are calculated based on the information given as follows: Vulcan Mold Maker Semi Automatic Machines Number of shift 2 2 Hours per shift 12 12 Days working 210 210 Number of machine operators required 2 12 Labour rate per hour for machine operators RM11.36 RM7.33 Number of maintenance workers required 0 3 Labour rate per hour for maintenance workers RM7.85 Total direct labour cost [NOTE 3] RM 57,254 RM 562,010 Delloyd is currently negotiating a tough collective-bargaining agreement with the employees union regarding the layoff of 24 operators that would no longer be of service should Delloyd choose to purchase the Vulcan Mold Maker. Thus, the cash flow statement for Vulcan Mold Maker is prepared on the basis that the negotiations with the employees union were favourable to Delloyd, without any unforeseeable effects on the companys operations. Information was given in the case that the foundry operated two shifts a day and total of 210 production days in a year. An assumption has been made that the workers work 12 hours each shift as the production process is continuous. The total cost calculated above has been rounded up to the nearest Ringgit. On the other hand, the direct material cost for both machines are calculated by subtracting the direct labour cost calculated above from the total cost of goods sold. It is also assumed that the respective total cost of goods sold will remain c onsistent over the years for both machines as it will not be affected by inflation and economic downturn. [NOTE 2] The calculation of expenses will cover general expenses that cannot be traced directly to the production and is charged on a yearly basis. The expenses for the Vulcan Mold Maker will consist of contract maintenance and power costs. On the other hand, expenses for the Semi Automatic Machines consist of maintenance supplies and power cost. The information on the expenses incurred is provided in the case and assumed to be consistent over the years. [NOTE 4]. Besides, the labour savings that are expected from the use of Vulcan Mold Maker is assumed as a cash inflow, amounting to RM5,200 in the cash flow statement of the new machine. [NOTE 5] The annual depreciation for Semi Automated Machine is RM47,520 and it is provided in the case study. Meanwhile, depreciation for the Vulcan Mold Maker is calculated based on the total cost of investment and depreciated over eight years assuming the straight line method is adopted. Thus, the annual depreciation cost amounts to: Total cost = RM 1.01 mÃ  Useful life = 8 years Annual Depreciation = RM 126,250 [NOTE6] The tax rate used equals to the companys effective tax rate of 43%, which reflected the combination of national and local corporate income-tax rates as given in the case. [NOTE 7] The net capital expenditure in the first year (Y0) for Vulcan Mold Maker is calculated with the assumption that the six Semi Automatic Machines have been sold for the price of RM130,000. The calculation is as follows: Book value of old machines = RM285,125Ã  Capital loss = RM155,125Ã  Net Capital Expenditure = Total cost Offer price Tax savings = RM1,010,000 RM 130,000 (RM155,125 x 43%) = RM813,296 [NOTE 8] The cash flow statement prepared will not include any extraordinary costs that were not mentioned in the case study to ease the comparability purpose. In addition, the consideration of purchase of the Vulcan Mold Maker was decided as the best option after careful consideration of all available molding-machine proposals. This option is assumed to be the most suitable and beneficial choice for Delloyd after a detailed analysis on all of the proposals. 3.0 Cash Flow Statement 3.1 Vulcan Mold Maker 3.2 Semi Automated Machine 4.0 Discount Rate Cost of Equity = Risk-free premium + (Beta) Risk Premium = 5% + (1.25) 6% = 12.5% WACC = % Equity (Cost of Equity) + % Debt (Cost of Debt)(1-Corporate Tax Rate) = 67%(12.5%) + 33% (6.8%) (1-0.43) = 8.375% + 1.279% = 9.654% The Weighted Average Cost of Capital (WACC) for Delloyd is 9.65%. This percentage was calculated by multiplying the cost of each capital by its weight and then adding the two. The weight of debt was given as 33%. The cost of debt given was 6.8%. This number was based on the interest rate of loans to the company from Bank Pembangunan. The corporate tax rate for Delloyd is 43%. The weight of equity was given as 67%. The cost of equity used was 12.5%. This number was calculated by multiplying the companys beta of 1.25 by the equity risk premium of 6% and adding it to the risk free return of 5.0%. The beta, equity risk premium and risk free return were given in the case. The reason for WACC to be chosen as the discount rate is that in actual f act, it is an equally weighted combination of theÃâÃ cost of equityÃâÃ and the after-tax cost of debt. It will thus provide the company with information regarding the best financing method whether via equity or debt, or the different combinations of both, that result in a lower cost of capital (Value Based Management.net, 2010). The WACC is then used as the discount rate to discount the net incremental cash follow. The net incremental cash flow is calculated by subtracting free cash flow of the Semi Automatic Machines from the free cash flow of Vulcan Mold Maker for the eight years. The calculation results in a negative NPV, which means that the investment in the new machine should be rejected. Only projects that yield a positive NPV will be regarded as a good investment decision (Michel, 2001). It was provided in the case study that the inflation rate is 3%. This rate was not incorporated in the calculated cash flow and NPV. However, if this has been taken into acco unt, it would have been resulted in a lower NPV because discount rate will increase. This is in accordance with Fishers Equation Theory which presents that nominal interest rate has to increase so that the borrowers can achieve their real interest rate. The lower NPV further reduces the attractiveness of the investment if it was financed by loans (Sun Phillips, n.d.). 5.0 Calculation of net incremental cash flow to NPV 6.0 Impact on the discount rate for two different financing methods Delloyd has two different options to finance the acquisition of the Vulcan Mold Maker. Delloyd can either take up a loan or issue additional shares in order to raise capital to fund the acquisition. The current market value of the companys capital is made out of 33% debt and 67% equity. Hence, the effect on the discount rate is further analyzed in two separate situations below, where the company chooses debt or equity financing. The WACC is calculated with the assumption that all other factors, other than the debt and equity percentages, will remain consistent. Situation 1-The company takes up a loan to finance acquisition. Effect : Composition of 60% debt and 40% equity = 40% (12.5%) + 60% (6.8%) (1-0.43) = 7.326% The discount rate drops when the company relies on more debt. Cost of debt is comparatively lower than cost of equity. This is because of the pecking order theory, whereby companies have a specific hierarchy when it comes to selection of financing methods. New debt is preferred over issue of new external equity due to lower transaction costs (Emery, Finnerty Stowe, 2007). Tax shields provided by debt financing also leads to a decrease in WACC as interest payments are tax-deductible. Besides that, debt financing also involves the use of company asset as security to the loan, as well as restrictive loan covenants set by the lenders to ensure that Delloyd would use the loan strictly for a proper purpose (Anderson, 2000). Hence, the WACC value is generally lower to reflect lower risk. A lower WACC would result in a maximization of the firm value. When the company decides to take up additional loans, this would indicate the company is now relying more on borrowed funds. Debt financing will lead to additional obligations of meeting interest and capital repayment (Anderson, 2000). Although these obligations may have a negative impact on the cash flow, this could motive management to work towards earning more profits in order for the company to meet these monthly obligations. Delloyd must reconsider taking up debt financing because if the company plans to use additional debt financing in the future, banks might be more reluctant to provide loans. A higher reliance on debt to finance assets indicates that Delloyd is at a higher risk of being unable to repay loans. This may result in higher interest rate charges in the future. Situation 2-The company issues additional shares to finance purchase of Mold Maker Effect : Composition of 20% debt, 80% equity = 80% (12.5%) + 20% (6.8%) (1-0.43) = 10.78% The WACC increases when the company relies on more equity. The issue of additional shares will lead to a dilution in ownership for existing shareholders, and this usually leads to a negative market reaction in the initial stage (Liesz, 2001). Equity financing will also involve transaction costs, including administrative and underwriting costs and this will have an impact on the WACC (Myers, 1984). In addition, when a company becomes liquidated, the shareholders will only be able to claim the residual assets after all debt obligations have been met. Hence, shareholders bear the highest risk and hence, must be compensated with relatively higher returns. The WACC will increase as a result, to reflect a higher risk associated in relying on equity financing. 7.0 Qualitative Issues Important decisions should not be made based on quantitative considerations alone. There are also qualitative issues related to the purchase consideration which are important and relevant to this capital investment decision. One of the most pressing issues faced by Delloyd is the ongoing negotiations with the employees union. This external stakeholder has the power to influence the reputation of the company should the union become dissatisfied with the outcome. Delloyd could easily be portrayed as a company that does not value the contributions of their employees. The layoff may adversely affect employee morale within the company. The other employees may suffer from survivors guilt, a term used to describe the feelings of surviving employees post layoff period. They feel that their job security has weaken or become angry if they feel that the layoff was injustice. This may potentially affect employee productivity (Brockner et al, 1986). This is supported by Brockner (1992), who goes on to say that proper management of layoffs can occur as survivors reaction can be influenced by upper management. Although Delloyd considered reassignment of the 24 workers to fill up vacant positions within the company, the only available positions were for the post of janitors, who were paid RM 4.13 hourly. The company could offer these positions to the workers that are interested in continuing to work for Delloyd. Managing Director Debbie Lee believes that the quality of the metal castings would increase resulting from the purchase of the Vulcan Mold Maker. Consequently, the scrap rate will reduce leading to fewer rejections of metal castings. The purchase of the Vulcan Mold Maker would allow Delloyd to enjoy a competitive advantage in this aspect. A comparatively lower rejection rate will show potential customers that Delloyd emphasizes on product quality. However, it is difficult to quantify competitive advantage in the cash flow statement and thus, the statement will not reflect this aspect. The purchase of the Mold Maker will also lead to an increase in supply due to a higher theoretical maximum capacity. The increase in supply does not necessarily correspond to an increase in demand. The company becomes more efficient in meeting current demands quickly, but an increase in demand will occur due to external factors beyond the controls of Delloyd. The economy is predicted to slow down, and this will affect the demand for metal castings. It is difficult to quantify this factor as there is no certainty of the future economy condition. However, the company had survived the 1997 financial crisis and could estimate the impact of the current slowdown based on previous experience in preparing the cash flow during the last financial crisis. Another factor to consider is the approval of the Board of Directors (BOD) to purchase the Vulcan Mold Maker. They have already rejected three proposals of similar mold maker and the latest being in 1999 due to economic downturn. As economic downturn is predicted to occur again, it will not be an easy task to get the approval. In addition, the total cost of RM1.01 million has exceeded the proposed expenditure slightly. The BOD also may question the need for extra capacity for the company as the existing machine itself is not running in full capacity. 8.0 Cost benefit analysis As we have looked into the cash flow for the two options and also the other qualitative factors, we can now summarise the cost and benefits of both options. 8.1 Semi Automatic Machine One of the benefits of not replacing the Semi Automatic Machines is that the company does not need to change their way of operating. Change is a word that most people fear because it requires them to move out of their comfort zone. If the company decides to remain status quo, they can comfortably produce their product without new surprises. Of course, this is not always a good option. Not changing into something better often comes with a cost. The company will not be able to progress further and achieving greater heights would be difficult. In addition, the Semi Automatic machines involve more labour costs as it requires more workers to operate the machine. Hence, this will increase the expenses and subsequently, lead to a decrease in NPV. This is due to an emphasis on quality in the metal castings produced. The acquisition of the mold maker would have lead to a drop in rejection rate, but if the company choose to maintain with the use of the Semi Automatic Machine, the scrap ra te would be maintained at 70 parts per million. They would have to forgo the benefits in the form of a reduction in scrap rate. 8.2 Vulcan Mold Maker If the company decides to replace the Semi Automatic Machines with the new Vulcan Mold Maker machine, the company will be able to produce higher quality products. This is an important factor if the company wants to retain its existing customers and also to attract new ones. According to a marketing website, people often buy products that are value for money and not just cheap products (Ali, 2007). By producing higher quality products, it is highly definite that the company is going to be more profitable. Also, the company is able to cut material costs because the Vulcan Mold Maker will result in lower raw material scrap rates. Besides that, the Vulcan Mold Maker requires only 2 workers to operate. Therefore, there will be a substantial amount of labour cost saved as less training and retraining costs will be incurred. The lower number of workers also helps the company to avoid any problems from the employees union which can be a cost to the company in the future. When the Vulcan Mold Maker is purchased, it will decrease the medical claims. The medical claims have doubled since 1998 as there was higher demand on employees to lift heavy objects. It is expected that the demand to lift heavy objects will decrease with the purchase of the new machine. Although it is unquantifiable at this point, there should be a decrease in medical claims leading to a saving in insurance costs. However, if the company decides to put the new machine in place, the company will have to deal with the tough collective bargaining agreement with the employees union before we are able to lay-off the existing workers. The company might need to offer monetary compensation or may provide early retirement benefits to those workers that are affected. These are necessary as the workers may find it difficult to obtain another job as economy is heading downwards. 9.0 Recommendation Although it seems like the benefit of investing in the new machine outweighs the benefit of using the existing machine, Delloyd is advised to maintain its current use of the semi-automatic machines. This is because investing in the new machine will result in negative NPV of the incremental cash flow, reflecting an investment that is not viable. The rule of thumb in investing in a project is that the project must generate a positive NPV. However, Delloyd may want to invest in the new machine in the future when there is an increase in sales and when the economy is stable given the benefits that the company will reap. For the time being, we will advise Delloyd to remain status quo. 10.0 Conclusion Delloyd should not invest in the new machine because it results in negative net incremental cash flow, which is the main consideration in making the investment decision. Qualitative factors were also taken into account when deciding the best option for Delloyd. The NPV of the Semi Automatic Machines is higher than the NPV for the Vulcan Mold Maker. This implies that the current machines will increase the value of the overall company in the future. The ongoing negotiation with the employees union is another main factor. Delloyd has not come up with any solutions other than the layoff. With the recommendations, the 24 workers will be continually employed and this allows Delloyd to maintain a good relationship with the union. Besides that, excess capacity exceeding the current 90% might not be useful for Delloyd as the economic downturn is due to occur. The current scrap rate is relatively low and should not be of concern for now. Hence, the company should focus their efforts towards preparing for the economic slowdown that may occur in the near future. (2960 words)
Tuesday, May 19, 2020
From Before Common Era to the 21st Century, humanity has pondered what the true meaning of friendship is. Even today, most people struggle with clearly defining this kind of companionship, just as Socrates does in PlatoÃ¢â¬â¢s Lysis. In this philosophical dialogue, Socrates and his peers debate potential theories concerning the reasons why people become friends with one another. Several theories are developed, but throughout the dialogue Socrates counters his own arguments in order to achieve further understanding of his inquiry. As they deliberate the true nature of friendship, PlatoÃ¢â¬â¢s writing parallels his teacher, SocratesÃ¢â¬â¢ style because it ends in perplexity. PlatoÃ¢â¬â¢s own ideas intermingle with SocratesÃ¢â¬â¢ in this text while he writes about him in a commendable manner to express the virtue in SocratesÃ¢â¬â¢ teachings and philosophies. In the end of the dialogue, Socrates and his peers end their conversation with seemingly indistinct motives for friend ship and readers are left with what feels like Ã¢â¬Å"aporiaÃ¢â¬ (Lysis 223b). While some people have trouble discovering SocratesÃ¢â¬â¢ precise position on friendship, I believe the point of the text is for perplexity to symbolize friendship entirely. Philosophy does not always have a distinct conclusion, just as friendship may not have a clear motivation. In my paper, I will be analyzing each notable theory developed by Socrates in order to uncover SocratesÃ¢â¬â¢ beliefs on the desire for friendship. Socrates begins his philosophical exploration by
Wednesday, May 6, 2020
THE INDIAN REMOVAL ACT OF 1830 Migdalia Tuero HIST101: American History to 1877 Professor Kathleen Davis February 13, 2014 There are several historical events and issues that have impacted the contemporary political development among American history. In the history of America one of these groups are the Native Americans. The white man throughout the South called for a removal of the Indian peoples. They wanted the Native Indians to be resettled to the west because their presence created a problem for the white man who needed additional land for settlement. Ã¢â¬Å"The status of Native American peoples posed an equally complex political problemÃ¢â¬ (Henretta, Edwards, Self 2012, 302). Therefore, Andrew Jackson posed the Indian RemovalÃ¢â¬ ¦show more contentÃ¢â¬ ¦However, President Andrew Jackson wanted to take the land and move the Indians out West therefore, the government ignored their efforts and the federal treaties previously signed. Ã¢â¬Å"The Supreme Court declared that Congress had complete constitutional authority over Indian affairs and could abrogate or break its own treatiesÃ¢â¬ (Call oway, 2012, p. 436). So instead of protecting the Native American Indians and their land according to the treaties signed by both parties, the United States government decided to take it from them. Jackson then sent troops to expel the Indians from their lands. One tribal Chief Black Hawk offered to surrender to Jackson however; Jackson rejected this offer and continued to send in American troops to pursue Ã¢â¬Å"him [and his tribe] into the Wisconsin Territory and, in the brutal eight-hour Bad Axe Massacre, killed 850 of Black HawkÃ¢â¬â¢s 1,000 warriorsÃ¢â¬ (Henretta et al. 2012, 303). This was not the end of it however, the bloodshed continued when Jackson maintained the Indian removal process. The Federal government drove thousands of Indians to walk over 1,200 miles to the new Indian Territory. During the walk to their new territory the American Indians suffered through devastating times. They suffered sickness such as the whooping cough, typhus, dysentery, cholera and, starvation, these were all epidemics along the way. In this removal nearly 125,000 Native American Indians were forced to leave their ancestral lands that they had cultivatedShow MoreRelatedThe Removal Of The Indian Removal Act Of 18301820 Words Ã |Ã 8 Pagespolicy of the Government, steadily pursued for nearly thirty years, in relation to the removal of the Indians beyond the white settlements is approaching to a happy consummation. Two important tribes have accepted the provision made for their removal at the last session of Congress, and it is believed that their example will induce the remaining tribes also to seek the same obvious advantages.Ã¢â¬ (Jackson, 1830) This quote from President Andrew Jackson showed the happiness of the Ã¢â¬Å"white settlersÃ¢â¬ ofRead MoreIndian Removal Act Of 183011 55 Words Ã |Ã 5 Pages2015 Indian Removal Act of 1830 The Indian Removal Act of 1830 was an act that helped aid the expansion of the United States population into the southernmost states, occupied mainly by Native Americans. The act was a long time coming, especially with President Andrew Jackson, a long-time proponent of Native American removal, at the helm. This paper explores the history leading up to the law, the introduction and passage, as well as the sometimes-tragic implementation of the Indian Removal Act of 1830Read MoreIndian Removal Act Of 1830868 Words Ã |Ã 4 PagesIndian Removal Act of 1830 The Indian Removal Act was signed into law on May 28th 1930 during the presidency of Andrew Jackson. Perhaps best known as the black eye of the administration and overshadowing his presidencyÃ¢â¬â¢s accomplishments, the Indian Removal Act was passed into law to allow the president to negotiate with Indians to purchase land they occupied and offer them lands west of the Mississippi. The Indian Removal Act of 1830 could also amount to pure greed and racism, the beginning of theRead MoreThe Indian Removal Act Of 1830940 Words Ã |Ã 4 PagesThe AmericanÃ¢â¬â¢s desire for expansion of their nation and economic growth has always been their main interest and goal. The Indian Removal in the 1830Ã¢â¬â¢s was a great example of AmericaÃ¢â¬â¢s efforts to expand through North America and their motivation to economically improve through profitable opportunities. When comparing the Indian Removal and the events that followed the Treaty of Paris, a similarity in the expansion of America i s discovered. Labor, politics, and economics of America during the two erasRead MoreThe Indian Removal Act Of 18301083 Words Ã |Ã 5 Pages The Indian Removal Act of 1830 was a law passed by President Andrew Jackson that provided the funds for the removal of the Indian tribes found in South. These tribes were the Cherokee, Chickasaw, Choctaw, Creek, and Seminole. Slave states, following the lead of Missouri who in the 1820s forced its Indian population to leave, saw the opportunity to expand their industry in the fielding of cotton by Ã¢â¬Å"converting Indian soil into slave soil.Ã¢â¬ That along with the finding of gold and simply the desireRead MoreThe Indian Removal Act Of 1830892 Words Ã |Ã 4 Pagesstudents are analyzing is; what are the major effects of the Indian Removal Act of 1830? The students will be given several data sets of events that occurred after the act was initiated and draw conclusions and revise their thesis statement as they go. The big idea of this lesson to have students understand the importance of the Indian Removal Act and it is essentially only the beginning of the journey that Indian tribes had to face after the act was initiated. It led to many heartbreaking events thatRead MoreIndian Removal Act Of 1830923 Words Ã |Ã 4 PagesIt gives me pleasure to announce to Congress . . . the removal of the Indians beyond the white settlements is approaching to a happy consummationÃ¢â¬ (Jackson, 1830, para.1). With promises of new lands, protection, and monies, President Andrew Jackson portrays the Indian Removal Act of 1830 as beneficial to Indians, wherein governmental financial gain is incidental. However, when considering land transactions and gold discoveries, the true beneficiaries are revealed. While strengthening the StatesÃ¢â¬â¢Read MoreThe Indian Removal Act Of 18301299 Words Ã |Ã 6 Pageswere many diverse, and complex views when approaching this subject matter; however, in 1830 President Andrew Jackson passed the Indian Removal Act, which forced Indians to relocate from their homelands in south east to land west of the Mississippi river. This granted the U.S. a large portion of new rich land, unfortunately it was at the expense of the Native Americans. When passing the Indian Removal Act of 1830, President Jackson relied on teleological utilitarianism ethnic views, in that he focusedRead MoreIndian Removal Act Of 1830923 Words Ã |Ã 4 Pagesbut the Cherokee removal was the cruelest work I ever knewÃ¢â¬ , remarked a Georgia soldier who had participated in the removal of Indian Natives during the mid-1800Ã¢â¬â¢s. As a result of the Indian Removal Act, Indian natives have been perceived as mistreated and cheated throughout history. The Indian Removal Act was passed during the presidency of Andrew Jackson on May 28, 1830. This act granted authorization to the president to exchange unsettled lands west of Mississippi for Indian lands residing inRead MoreThe India n Removal Act Of 1830865 Words Ã |Ã 4 PagesWhen the Indian Removal act of 1830 was enacted, the Cherokee Nation panicked. The Cherokee, specifically the romanticized Tsali, did their best to preserve their culture in the mountains of North Carolina, but what really saved them from their harsh fate that so many other Cherokee faced, was there white chief, William Holland Thomas. The Cherokee were Ã¢â¬Å"disagreeable and dangerous neighbors,Ã¢â¬ but they had a powerful ally in Raleigh, who saved the Eastern Band from a much harsher fate. The Eastern
Question: Case Study: Bounce Fitness. Answer: The strategic plan involves identifying the objectives of the organization and formulating the policies and applying the strategies to achieve the objectives. Managing the strategy involves the integration of function of different departments in the organization so that the goals are achieved. The first and foremost task in the strategic management is identifying the needs for bringing the change. The regulatory, technological and political changes ahs made the organization to change itself subject to change. The organization needs to change itself because of its resources, program and mission and other external factors and which influences the activities or the performance or may be the reputation of the organization. All the factors which influences the need for change in the organization has to be assessed (Auster Hillenbrand, 2016). As in the provided case study , we can see that the internal factors are responsible for driving the change because it is hindering the customer satisfaction as the quality of customer experience has been reducing. before the changes has been brought , the firm needs to look into the fact that the change which has been proposed is beneficial to the organization and is appropriate and every members of the organization are committed to such change. The executive of Bounce fitness was able to recognize the need for change. The operations carried out is not standardized and the training level is not uniform and this has reduced the safety and the quality of experience of customer. The external environment does not impact the environment directly. Environment is mainly composed of different factors such as political, economical, social, competitor, industry and supplier. The pattern or trend of the environment which might have impact on the objectives of change management. If the uncertainty level is quite high then this would lead to complex environment which would be difficult to deal with . some of the elements in the environment are not predictable and this makes it hard to anticipate any changes if occurs in the organization. This would have direct or indirect impact on the objectives of change management when the achievements are to be looked into. Political climate of the organization might change suddenly and this becomes the factor which is not predictable. So the organization would not be able to play proactively when it comes to managing the change and the achievements of objectives of change management becomes a difficult task (Cameron Green, 2015) . Performance gap can be viewed as the difference between the desired and expected performance of any work unit, employee or any process. Analysis of gap needs to be done to find out different issues which requires addressing as a measure of solution strategy. The needs which is critical is identified and proper solution needs to be documented. If we consider an example , say the performance of the employee in an organization adequate and this might be attributed to the lack of training facility or training which was provided is inadequate. So in this case , the solution would be to provide the employee with appropriate training facility. So the management needs to change its quality of training provided (Hayes, 2014). The opportunities and threats to the business also calls for the operational change. When the habits of customer changes or there is a change in the marketing trend this call for the change in the organization operations. Say, the development in the technology provides the organization with the idea to enhance their production, so in this case it would be suitable to the business to get itself adapted to the newly developed and sophisticated technology. If the business has some potential threats such as lack of availability of product, launching of new product by the competitors, technological advancement , all these carry the need to change the operational activities of the business to get align with the current scenario and to suit the needs of business (Glor, 2015). Prioritizing the requirement for change can be made in different dimensions and it should be compatible with the organizations stakeholder. The prioritization can n]be viewed differently by the different people in the organization. Firstly all the requirements which are actual needs to be indentified . there are variety of technique that can be used to prioritize the requirement and they can be discussed over here : Working group needs to be prioritize, the case particular to the business needs to be analyzed or the schemes of voting can be followed in which the stakeholders are asked to give number of votes to the prioritized classes of requirement and after that the votes of different voters are need to be weighed. The method of quality function development would be used and it represents a type of methodology to listen to the needs of customers and addressing their needs and meeting up to their expectation. As in this case, the quality of the customer experience is on a decreasing phase, this technique would be appropriate to deal with the customer requirement. Other technique to be used is the ranking method in which rank would be assigned to the requirements according to the most needed. Reference : Auster, E.R. and Hillenbrand, L., 2016.Stragility: Excelling at Strategic Changes. University of Toronto Press. Cameron, E. and Green, M., 2015.Making sense of change management: a complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers. Glor, E.D., 2015. Building Theory of Organizational Innovation, Change, Fitness and Survival.The Innovation Journal,20(2), p.1.
Wednesday, April 22, 2020
Tidwell talks about the issue of global warming, which has been termed in the academic circles as the global commons. The United States, just like other countries in the world, is being faced with the issue of conserving the environment in order to resolve the issue of global warming. In the United States, the water bodies are polluted each day, dust and gases are in the air, and the surrounding is full of waste products. This has an effect to the environment, which threatens the world security.Advertising We will write a custom essay sample on The Issue of Conserving the Environment in the US specifically for you for only $16.05 $11/page Learn More Environmental degradation is a global common because pollution in one country would probably affect the health of individuals in other countries. As the president was meeting other heads of states from all over the world, the issue of conserving the environment in the US was still a matter of concern, just in the same way as states have continuously failed to come up with a single policy to address the problems affecting the environment. Based on this issue, Tadwell advises Americans to neglect the policies that urge them to protect the environment at the individual level. This is because real pollution is caused by companies, which are never given regulatory policies to guide their production. For real environmental conservation, Tadwell advises that citizens should stop giving in to the tricks of the government and lobby the parliament to come up with laws that would lead to real environmental conservation. In this regard, environmentalists should employ the techniques utilized by the civil groups in 1960s, such as demonstration, to lobby politicians to design environmentally friendly laws. In the United States, there are quite a number of green gestures, but little political action. This means that various groups are willing to conserve the environment, but there is no political good will. He observes that the former president, George W. Bush, encouraged individuals to take the initiative of conserving the environment, but pollution rates have never changed. The country needs to come up with strong policies that would ensure the problem of global warming is resolved. The consequences of global warming are stern because some parts of the world might be extinct. For instance, some Irelands such as the Eastern Shores may join others, which will bring about conflicts. Hurricane, which is related to global warming, will bring about untold suffering. Therefore, it is upon Americans to come up with strategies that would prevent all these. The main solution to the problem of global warming is agitating for sustainable development. This means that todayÃ¢â¬â¢s production should take into consideration the future generation. In this case, production should be friendly to the environment to prevent global warming.Advertising Looking for essay on ecology? Let's see i f we can help you! Get your first paper with 15% OFF Learn More The future generation would have nothing to produce in case the rate at which the environment is being destroyed persists. Tadwell advises that the only way to ensure sustainability is through formulation of laws. He compares global warming to segregation. Segregation was a policy that had oppressed and subjugated many people in the United States. It was easy to end the policy through the designing of the appropriate law. Therefore, laws should be designed at both national and international level. The government of the United States should come with strong laws to punish those who destroy the environment. Similarly, the US should facilitate the crafting of the international environmental law. The only solution to pollution is the designing of laws. This essay on The Issue of Conserving the Environment in the US was written and submitted by user Sadie Guthrie to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Tuesday, March 17, 2020
The Changing World Essays The Changing World Essay The Changing World Essay The world is has never been the same. People living a century ago, can never imagine the world we are living in. Over the last one hundred years we have seen extraordinary changes in technology. We had been on the foul smelling four legÃ carts and now at the foul smelling gas consuming four wheels. We wished to be like birds flying here and there, now we are visiting planets and isolated areas. We dreamed to go Ã¢â¬Å"Around the world in Eighty DaysÃ¢â¬ and now we communicate across the worldÃ in seconds. The culture of the people changes accordingly with the devolvement in science and technology. From the literature to living styles, every thing changes shape with the passage of time. Changes in our world are occurring at the both sides of the spectrum. With all these developments, there are also some negative effects. Pollution and global warming are the best examples caused by these changes. Change in the living standards should be for the betterment of mankind and to make this world a better place to live. Technology: One single thing which we are unable to predict is the continual change in the technology. Communication: Technology has enabled us to connect with others any where in the world. Today weÃ¢â¬â¢re no longer forced to send letters through the postal service, or spare some time to specially meet some one just to talk. Thanks to technology today we can communicate with any one in this world just in seconds. Mobile phones were launched in 1983, changing the route of the world: connecting people around the world. The advent of the Short Message Service (SMS) allowed inarticulate youths everywhere to express their interest. You can imagine this great change by just knowing that in 1992 first SMS was sent and now 6,700,000,000 SMS are sent every day! Media: Today, digital technology is changing this whole concept of Ã¢â¬Å"mass mediaÃ¢â¬ . There used to be a known Ã¢â¬Å"news hourÃ¢â¬ and a place to go to for the news, but now we get the news on the move (mobile phones). Put another way, we used to go to the news, but now the news comes to us. On the internet, people create even more content of their own using blogs (personal websites accepting contributions) and social networking sites like MySpace, Facebook and YouTube. Transportation: In this modern era, technology has enabled us to travel thousands of kilometers in some days or just some hours. People used to travel through wooden carts powered by animals or humans. Today we travel around the world by fuel consuming cars or by flying in planes here and there. Gadgets: People living in the world before us never imagined how the gadgets of today will work. Gadgets are considered to be more unusually or cleverly designed than normal technological objects at the time of their invention. Here are some interesting gadgets; ULTIMATE GAMING CHAIR: This chair is packed with features. To start off, there are 12 vibration motors throughout the chair that are synchronized with the games action, including the PS2, Xbox, GameCube, PC, Mac, PS1, and Xbox Live. For audio only, you can use all those and your iPod, DS, PSP, or generic MP3 player. AUTO-PARKING SYSTEM: Good news for inexperienced drivers is news that VolkswagenÃ¢â¬â¢s Touran and Sharan will come with ValeoÃ¢â¬â¢s Park4U auto-parking system,Ã which uses ultrasonic sensors to automatically park the car without scraping across neighboring vehicles. ION AUDIOÃ¢â¬â¢S COZ-E: The Electric Snuggie the COZ-E is essentially an electric blanket with sleeves, and it has a control pad with a green light for low heat,Ã a yellow light for medium heat, and a red light for high heat. Now this is an electric quilt which warms you up any one in few seconds! Education: We have seen a huge change in education in our lives. The changing education changes the world we live. Now there are new learning and teaching styles which have improved the learning of the students. Today students learn from the Multi-Media as well as from the Computer aided learning programmes which were quite rare not so long ago. Today even dumb and blind can also have this opportunity to learn and be educated. The information age has led to the use of computers in the laboratory, as an aid to teaching. New education styles have enabled us to move beyond the blackboard and chalk times of old fashioned school houses. Now, we have the ability to use computers to show students how to better understand math and science. With the improvement of audio technology, we now have the ability to replay historical speeches so they can be listened to by a new generation or even show how they were originally broadcast. Today online college courses allow working professionals to work on higher degrees while working. Online high schools will allow students to participate in the extracurricular activities of their choice while working on their high school diploma. Students who once could not finish their high school classes due to chronic illness are able to finish their classes now. Students will also be able to enter the workforce sooner and start college sooner. Education as we know it is reversing itself in that the student will be able to complete their education at their own pace, similar to the education of students in the one room schoolhouses. Students will no longer be grouped based on age. With computers being able to do some of the work of the teachers, education will become more individualized. Culture: Over the last centuries we have seen extraordinary changes in culture. Culture refers to the ways we live, for example, language, style or fashion etc. Fashion always changes, it never remains the same. So does the literature, if we compare books of present and 100 years ago, there will be a lot of difference i. e. language, style and type of the literature. Literature: We have been listening and reading stories about fairies and a Ã¢â¬Å"happy ever afterÃ¢â¬ and now these fairies are converted into vampires and wizards, for example very famous twilight series and harry potter series. Today, unbelievable fantasies are converted into modern science fiction like Super man, Bat man etc. Today, simple communicative language is preferred and used in our present books but before, classic language was used which was difficult to understand and study. Fashion: Fashion is a general term for currently popular style or practice. The concept of fashion implies a process of style change, because fashions in dress, as well as in furniture and other objects, have taken very different forms at different times in history. Since the beginning of the 20th century, however, fashions have changed rapidly. We would look strange indeed if we wore the styles our great-grandparents wore. Fashion reflects the society of which it is a part. It has been influenced by wars, conquests, laws, religion, and the arts. Individual personalities have also had an impact on fashion. Fashion industry developed first in Europe and America, today it is an international and highly globalized industry, with clothing often designed in one country, manufactured in another, and sold in a third. Adverse changes in the world: Our world is constantly changing. These changes affect our lives in a good way; technology has made our lives easier, new education systems has enabled our students to learn in a easy and more effective way. But obviously the world is changing on the both sides of the spectrum. If these changes have given benefits to the people, these are also destroying the systems of the world. The best examples of the adverse affects are our environmental changes and our social interactions. Environmental changes: Social interaction: Change is also seen in peopleÃ¢â¬â¢s behavior after the advanced technology. If we move back to the time when there were no electronic communication devices, like cell phones and internet, people were more close to each other. They had more time for their friends and family, they were not so Ã¢â¬Å"busyÃ¢â¬ in their work that they didnÃ¢â¬â¢t even had time for their parents. But today,
Saturday, February 29, 2020
Case Attrition Essay Case attrition is the failure of arrests to come to trial; less than half of all felony arrests result in conviction (Meyer, J & Grant, D. 2003). Basically, case attrition is when an arrest does not end in a trial conviction, which happens quite often in the court justice system. The effect case attrition has on the criminal justice system effects all levels of the criminal justice process, because an arrest or no arrest affects all aspects of the criminal justice process. Law enforcement officers can develop negative feelings about the justice system and feel that their work is not getting noticed. The high levels of case attrition in modern systems shows that the criminal law has very substantial limitations as a direct crime control such as, deterrence, incapacitation, and rehabilitation. Criminal convictions and penalties deserved punishment and reinforce important societal denunciation, but if these penal consequences are imposed according to procedure that are widely perceived as fair and just. Attrition can get rid of individuals in the over-worked justice system that were arrested that either had a problem with the legality of the arrest or it was the result of an overworked, or bad officer in a situation where an arrest was not necessary (Meyer, J & Grant, D. 2003). When these cases are removed from the justice system, it is possible for attorneys and judges to be able to focus on more serious crimes. Reference Meyer, J & Grant, D. (2003) The Courts in Our Criminal Justice System Case Attrition. (2016, Mar 17).