Financial Analysis Essay

It was Henning Holck-Larsen and Soren Kristian Tuobro, the two promising Danish engineers who were committed to develop the engineering capabilities in order to meet the demand for the necessary industries in India. L&T at first started its business by importing sophisticated machineries for taking up complex engineering and construction assignments which was needed in the Indian market. L&T started its business by importing sophisticated machineries for taking up complex engineering and construction assignments which was needed in the Indian market from Europe. It is now a limited company fully based on engineering, technology, and construction. L&T is India’s one of the largest and know industrial organisations with a reputation for technological excellence, high quality of products and services and strong customer orientation. They value their customers by using customer focused strategy giving them value and a world class quality. It has enabled them to attain a title of the biggest player in their market field. The L&T has attained its international presence by opening its offices in different parts of world which has helped them to attain profits and grow widely. The wide marketing and distribution network not only gives them a strong customer support but also those to attain progress with keeping in mind the protection of the environment. The company is constantly on the move for innovation in their technology which helps them to attract potential shareholders. The company takes a major attention towards the culture when working in different parts of the world, which helps them to meet the satisfaction level of its stakeholders, employees and society. The company believes in their employees by giving them freedom at work which then helps their employees to complete interesting, motivating and challenging tasks with ease. It is open to suggestion and ideas at the workplace. Hence, it has given birth to advancement and the company is at present growing on a high scale with a rapid pace while playing as a major threat to their competitors. Today, the company is therefore huge and owns major Independent companies. It holds positions of independent companies in the field of Hydrocarbon, Heavy engineering, Power, Construction, Electricals and Automations, IT, Shipping, Railway projects and many more. It has created mile stones with successful projects in other countries like Sri Lanka in terms of delivering quality power projects and becoming the largest seller of coal to China. It has also played a major role in India’s maiden moon missions. Capital Structure In terms of finance, capital structure represents the way a corporation finances its assets through the combinations of equity, debt, or hybrid securities. The capital structure of a firm is then the composition or ‘structure’ of its liabilities. It gives the overview and the standing in the market place by putting a bright light on the working style of the company.

Development of Axum and Meroe in Northeastern Africa Essay

66. Comparative Analysis: Compare the development of Axum and Meroe in northeastern Africa with the development of the Maya and of Teotihuacan in Mesoamerica. In both the development of Axum and Meroà « in northeastern Africa possessed the ores and fuels needed to produce iron on a large scale. They traded along the Nile River to Egypt, and their goods such as gold and ivory reached ports all along the Mediterranean Sea, Red Sea, Southern Africa, and quite possibly as far as India and China. Axum was a very powerful state. It controlled a huge number of ports, such as Adulis along the Red Sea coast, and it participated in the commerce of the Indian Ocean, where its export goods included ivory, slaves, and crystal. They also traded with Alexandrian Egypt, and eventually with Rome, Byzantium, and India. Teotihuacan was a powerful political, military, economic and cultural center that influenced the whole of Mesoamerica. Teotihuacan is one of the world’s oldest and most impressive archaeological sites. The wealth of Teotihuacan was based largely on the amount they had on the trade of obsidian, a coarse green glass occurring in volcanic rock. In common with the other Mesoamerican civilizations, the Maya had measured the length of the solar year to a high degree of accuracy. They produced extremely accurate astronomical observations; their charts of the movements of the moon and planets were used to predict eclipses and other celestial events such the time between conjunctions of Venus. The ancient Maya had diverse and sophisticated methods of food production. It was formerly believed that shifting cultivation agriculture provided most of their food but it is now thought that permanent raised fields, terracing, forest gardens, managed fallows, and wild harvesting were also crucial to supporting the large populations of the Classic period in some areas. 67. Historical Analysis: â€Å"While long-distance trade across Afro-Eurasia predates 500 C.E., it grew in importance between 500 and 1500 C.E.† What key developments make this statement true? In between 500 and 1500 C.E Afro-Eurasia’s trade increased and altered consumption patterns and encouraged peoples across the zone to specialize in producing particular goods for market rather than being self-sufficient. They followed religions such as Buddhism and Islam and it spread along the trade routes. During this period, there were a lot of epidemic diseases, and they spread along the trade routes. Some regions developed stronger states in part because of increased commerce along the trade networks. These regions were East Africa, West Africa, and Southeast Asia. There were also a lot of technological advances during this time. This included the development of larger ships and the magnetic compass in China. This also helped increase trade.

Ethical Issues Paper Assignment Example | Topics and Well Written Essays - 500 words

Ethical Issues Paper - Assignment Example For instance, a Christian therapist attending to an Islamic family may unknowingly breach norms and cultural beliefs of the clients. This may relate to the fact that Christians have fewer restrictions to human conduct while Islam advocates strict adherence to many restrictions. Another ethical issue that family therapists may face while working with families may involve accepting gifts from the family. Gift in this context is a pay or treasure given to a therapist besides or on top of the agreed treatment fees. Even though therapists understand illegality of accepting gifts, some families may insist on offering that may present as shows of appreciations for great work and assistance of a therapist in overcoming a problem. Breaking confidentiality about patients’ information and details of discussion with family members is another potential ethical issue that family therapists may face. Legally, family therapists have to share with family details of issues that led to seeking therapeutic services as disclosed by the member who first contacted the individual counselor (Nichols, 2013). However, there are no clear limits as the extents that a family therapist should go, or clear description of situations that a counselor should consider disclosing initial briefings. Counselors intending to refer clients may also face challenges as to the nature of information to withhold from a potential referral destination. American Association for Marriage and Family Therapy (AAMFT) is an institution that provides family therapy services. As an institution, AAMFT has range of code of ethics that subscribing and subscribed members have to follow to ensure effective service delivery and maintenance of reputation of the institution. The codes of ethics of AAMFT are sufficiently categorical as they touch on every aspect of practice that compromise or improve service delivery during family therapy. The codes reiterate the need for confidentiality and provide

Norms are Informal Rules in Society Essay Example | Topics and Well Written Essays - 500 words

Norms are Informal Rules in Society - Essay Example The first example is where an individual of high status quo decides to use his bicycle to travel to work despite having a vehicle and the availability of public means of transport, the individual will have behaved against the norms of the society as depicted by the roles and code of behavior associated with his rank and status in the society. The sanctions that the society will impose on such an individual will include the decline in respect and status attached to the individual by his work mates and society. His workmates who have lower prestige jobs in the work place may doubt the individuals capability to be in such a position and this might lead to the loss of the job by the individual because the individual does not act according to the roles attached to him and also he does behave according to the societies norms to maintain his status and prestige according to the role he or she plays in the society. The other example is when an individual may decide to wear two different types or make of shoes, one make on the left foot and the other on the right, those who notice may decide that this is a mere joke but the society may decide to sanction you because of breaking the social norms associated with wearing shoes by trying to embarrass yo

How Different Leadership Styles Affect Workspace Performance Essay

How Different Leadership Styles Affect Workspace Performance - Essay Example It is quite difficult for one person to manage a large group without having to deal with the factors mentioned above. However, the path-goal theory sets a fair basis for ensuring that every member of the group gets a chance at performing to the best of their ability and receiving the rewards for it. Also, the environment in which the nurses work is very task-based and has a formal authority system that suits the path-goal style. The leader can lead by directing, supporting, setting goals or promoting participation amongst the members of the team, depending on the subordinates' needs. In turn, the subordinates gain experience and satisfaction in their work. This leadership style is commanding uses force. Cook would be giving orders to the subordinates and expecting them to follow these orders closely and act upon them immediately. The tone that Cook would use is upper-handed and she could be heard demanding "to do what I tell you to do". Cook would monitor the subordinates work performance very closely. In her opinion, the subordinates do not make informed decisions. The conversations and interactions are cold, brief and mostly work-related. This style instills fear in the subordinates and Cook would motivate them through threatening ways. Authoritative Leadership Style Although this style may seem very negative, it has a positive approach because the style allows the subordinates to explore and discover ways to achieve the goals. It motivates the employees. Cook would lead by good examples and she could be heard confidently saying, "come with me". In her opinion, the subordinates are individuals with a passion to achieve goals. The conversations and interactions are encouraging and motivating. Cook would motivate the employees by encouraging them to perform better. Affiliative Leadership Style Cook would encourage the team by having team-building efforts to create harmony. In Cooks opinion, "people come first". However, if used excessively, Cook could turn a blind eye to the mistakes that the subordinates make. The communications and interactions are friendly and go beyond work issues. In a way, the subordinates are motivated through the harmony and sense of belonging that the leadership style creates.  

Environmental Policy Essay Example | Topics and Well Written Essays - 2000 words

Environmental Policy - Essay Example information regarding the occurring environmental degradation [Pellegrini &Gerlagh, 2006 page3] witnessed by the soviet union, Asia, Africa and even the Latin America. With democracy, was the ability to protest against the loose grip of the authorities on the optimum use of the resources available. Thus, the democratic setup helped the cause of raising voice high enough to reach the ears of the undertakers. By exploring the link between democracy and environmental policy we can find the nature of effect that each has on other, as for instance, countries with a democratic setup have a political commitment to the people of healthy environment. And democracy is a significant positive determinant of environment protection. The UK initiatives out of region have been in the developing countries, of which the present work will limit it to India. As India is arriving in the developed country arena with the zest never seen before, the sustainability model will be largely dependent on the shoulders of the youth of the nation. The UK s sustainable development projects in India aim at Natural Resource Management, Climate change policy, mainstream sustainable development and production aiming at reduced emissions[UK - SUSTAINABLE DEVELOPMENT PROJECTS IN INDIA, 2006]. The UK Strategy for Sustainable Development, which uses that definition of sustainable development, has four objectives: - social progress which recognizes the needs of everyone - effective protection of the environment - prudent use of natural resources - maintenance of high and stable levels of economic growth and employment.[MAPPING COMMON GROUNDS, 2001] UKs latest initiative on the matter of democratization in environment policy making is the... World is changing, and how?, so during this time when the scientists are busy coming out with more statistical â€Å"deadlines† of natural resources remaining on earth and people are busy getting one on one with the â€Å"global warming† glossary of terms, fewer have started the leap toward new ways of living that are less daunting on our planet. People are reminded of a serious â€Å"shift of origin† like condition of the planet when researchers declare that the rising temperatures due to global warming will harm the wine industry in the regions of California or the decreasing ICE CAP for polar bear survival or the melting glaciers of the Himalayas close to India. But still now in times of severe hunger and poverty stricken countries of the world, where survival comes before living, fewer will be courageous to take report of the now termed â€Å"planet in peril†. On the positive side, there is some relief in watching the efforts of international level org anizations and NGOs come to light the way towards a â€Å"prolonged† stay here, on earth. Greenpeace, Care, UN and among others are the forth runners in this task. Scientific knowledge and policy go together hand in hand. Scientists contribute to the framing of issues and the agenda for climate change by defining what evidence they can produce and by making claims about its significance for policy-makers. The future for the environmental policy making through democratization is clearer and it is going to be a key issue for the coming organizational setups. The industrial revolution of the 1900s has had initially profound effect on the global environment which are now showing up. There is a need for table turning policies and stringent actions.

Risks in the Oil Industry Dissertation Example | Topics and Well Written Essays - 11000 words

Risks in the Oil Industry - Dissertation Example From this study it is clear that while currency may be the central thorough-put of social organization, it is forms of energy that drive the social apparatus. Energy in the form of petroleum, or oil, constitutes the predominant energy form of the modern world. Despite growing concerns about environmental sustainability, and the oftentimes-tumultuous conditions and nations that must be traversed to obtain oil, for the conceivable future this resource is Earth’s primary energy source. The central importance of oil to modern society has necessitated considerable public and private resources are devoted to its procurement. In addition to procurement infrastructure, financial markets have emerged for the sale and speculation on future prices. Oil is a complex resource that must be understood from multi-dimensional perspectives.This paper highlights that  oil is procured mainly from drilling methods, including offshore reserves. There are a variety of grades of oil, referred to as benchmarks, a fact that has necessitated differing terminology. To a large degree crude oil benchmarks emerged with the first futures contract on oil in 1983. Today there are three primary benchmarks: West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. West Texas Intermediate is most prominently used in the United States. WTI is also recognized as the highest grade of oil and generally trades at a premium to the Brent Blend and Dubai Crude, although as will be later demonstrated this is a highly volatile market.

NEWS Essay Example | Topics and Well Written Essays - 250 words

NEWS - Essay Example Although this has been a norm during the last many decades and various subsequent researches have been unable to point out the deficiency inherent in the model; the model has however been challenged recently as it has failed to explain the current flow phenomenon in the lithium ion batteries. This discovery surfaced when a cell containing a carbon coated porous electrode was used to analyze the validity of the old concept; while the older model failed to explain the results, the Marcus-Hush-Chidsey theory successfully explained the flow of energy within the battery. This theory gives a new insight into the phenomenon of flow of energy in a battery and relates it to rate of flow of electrons between carbon coating and porous electrode. The difference is more marked at higher voltages. This is an entirely new explanation of a previously known phenomenon and it is hoped that this will assist in developing batteries with better performance in

Chinese Culture Essay Example for Free

Chinese Culture Essay The climate and temperature of China varies throughout the area of the country. Most of the country lies in the temperate belt, but the southern most part lies in the subtropical belt while the northern part is in the sub arctic belt. There is usually a lot of rain in the summer, and very little in the winter. China has the largest agricultural output in the world, while only cultivating 15% of its total area. Rice is China’s most harvested crop, while wheat is second. China also produces potatoes, other vegetables, and some fruits. By the end of 2000, China had 633 different cities, while 13 of them had a population of two million or more. The three biggest Chinese cities are Shanghai, Beijing, and Chongqing, in that order. Hong Kong is inside China, but isn’t considered part of the country. Confucianism used to be the main religion in China and help shape its history. However, Buddhism has the most followers and biggest influence in China than any other religion, now. Some other major religions throughout China are Taoism, Islam, and Christianity. Most people in China, now, play sports just like us such as ping pong, soccer, and badminton. These types of sports are fairly new to China, while different types of martial arts have been around much longer than team sports. China is a communist state. This means that everything is ruled and owned by the government. There is no private ownership, and all goods are shared by the people, who are all equal. Chinese education is required and free for ages 6 – 15, and can be continued longer if the person wants to and can afford it. Most of the jobs throughout China are related to agricultural businesses, or they do cheap labor for companies all around the world. The employment rules in China are much more relaxed than the U. S. so big corporation usually have Chinese factories make their goods for much cheaper. Stir fry is the most common cooking technique throughout China. It requires a small amount of oil in a heated pan, and the ingredients of the mea, usually vegetables and meat, are put into the pan and cooked until ready. The most used cooking tool is the wok. It is pretty much like a pan with rounded edges for stir frying. Chopsticks are by far the most used eating tools of the Chinese people, just like our forks and spoons. Chinese meals almost always have rice or noodles. The is usually vegetables in the meals, which could be many different types, such as broccoli, bamboo shoots, mushrooms, cabbage or eggplants. The meat is usually chicken, pork, or fish. Chinese meals are eaten pretty much at the same time as out meals. Breakfast is in the morning, lunch in the afternoon, and dinner is at night. There are much unusual eating etiquettes that must be followed in China. One is that your tea can never be empty. The host will always be refilling their guests’ cups, and the guests must tap their cup on the table as a showing of thankfulness. Another eating etiquette is that, when out with a group of people, you must order an even number or plates, even if there is an odd number of people, because odd numbers symbolize death. Bibliography Climate http://www. chinatraveldepot. com/C149-China-Climate Major Cities http://www. china. org. cn/english/feature/38093. htm Recreation http://www. ajpanda. com/Articles. asp? ID=227 Types of Jobs http://factsanddetails. com/china. php? itemid=366catid Ingredients and equipment http://www. china-family-adventure. com/chinese-food-ingredients. html Bourbon Chicken recipe http://www. food.com/recipeprint. do? rid=45809 Chinese fried rice http://www. grouprecipes. com/25313/chinese-fried-rice. html/print Chinese Almond Cookies http://chinesefood. about. com/od/dessertcookies/r/almondcookies. htm Chinese Almond Cookies Prep Time: 15 minutes Cook Time: 25 minutes Total Time: 40 minutes Ingredients: †¢ 2 cups flour †¢ 1/2 teaspoon baking powder †¢ 1/2 teaspoon baking soda †¢ 1/8 teaspoon salt †¢ 1/2 cup butter †¢ 1/2 cup shortening †¢ 3/4 cup white sugar (can add up to 2 more tablespoons, if desired) †¢ 1 egg †¢ 2 1/2 teaspoons almond extract †¢ 30 whole, blanched almonds (one for each cookie). †¢ 1 egg, lightly beaten Preparation: 1. Preheat oven to 325 degrees Fahrenheit (162. 5 degrees Celsius). 2. In a large bowl, sift the flour, baking powder, baking soda, and salt. In a medium bowl, use an electric mixer to beat the butter or margarine, shortening, and sugar. Add the egg and almond extract and beat until well blended. Add to the flour mixture and mix well. Note: The dough will be crumbly at this point, but dont worry that is what its supposed to be like. 3. Use your fingers to form the mixture into a dough, and then form the dough into 2 rolls or logs that are 10 to 12 inches long. Wrap and refrigerate for 2 hours (this will make it easier to shape the dough into circles). 4. Take a log and lightly score the dough at 3/4 inch intervals so that you have 15 pieces and cut the dough. Roll each piece into a ball and place on a lightly greased cookie tray, approximately 1 1/2 inches apart. Place an almond in the center of each cookie and press down lightly. Repeat with the remaining dough. 5. Brush each cookie lightly with beaten egg before baking. Bake for 15 minutes to 18 minutes, until golden brown. Cool and store in a sealed container.

Auebach Enterprises Essay Example for Free

Auebach Enterprises Essay These are not presented in scholarly discussion, but are simply the solutions. Student papers are expected to be written in scholarly discussion following APA formatting guidelines incorporating solutions and supported with scholarly research. CASE 3A – AUERBACH ENTERPRISES Auerbach Enterprises manufactures air conditioners for automobiles and trucks manufactured throughout North America. The company designs its products with flexibility to accommodate many makes and models of automobiles and trucks. The company’s two main products are MaxiFlow and Alaska. MaxiFlow uses a few complex fabricated parts, but these have been found easy to assemble and test. On the other hand, Alaska uses many standard parts but has a complex assembly and testing process. MaxiFlow requires direct materials costs which total $135 per unit, while Alaska’s direct materials requirements total $110 per unit. Direct labor costs per unit are $75 for MaxiFlow and $95 for Alaska. Auerbach Enterprises uses machine hours as the cost driver to assign overhead costs to the air conditioners. The company has used a company-wide predetermined overhead rate in past years, but the new controller, Bennie Leon, is considering the use of departmental overhead rates beginning with the next year. The following planning information is available for the next year for each the four manufacturing departments within the company: Overhead Machine Costs Hours Radiator parts fabrication.. $ 80,000 10,000 Radiator assembly, weld, and test. 100,000 20,000 Compressor parts fabrication. 120,000 5,000 Compressor assembly and test.. 180,000 45,000 Total $480,000 80,000 Normally, the air conditioners are produced in batch sizes of 20 at a time. A production batch of 20 units requires the following number of hours in each department: MaxiFlow Alaska Radiator parts fabrication.. 28 16 Radiator assembly, weld, and test. 30 74 Compressor parts fabrication 32 8 Compressor assembly and test 26 66 Total 116 164 Required: 1. Compute the departmental overhead rates using machine hours as the cost driver. 2. Compute a company-wide overhead rate using machine hours as the cost driver. 3. Compute the overhead costs per batch of MaxiFlow and Alaska assuming: (a) The company-wide rate. (b) The departmental rates. 4. Compute the total costs per unit of MaxiFlow and Alaska assuming: (a) The company-wide rate.  (b) The departmental rates. 5. Is one product affected more than the other by use of departmental rates rather than a company-wide rate? Why or why not?

Hazards in High Temperature Work Environment

Hazards in High Temperature Work Environment Production environment meteorological conditions affected plant construction, ventilation equipment, process and heat conditions, etc., while at high temperatures or the presence of high air humidity or heat radiation and other adverse weather conditions, production labor, it may become a high-temperature operation. High temperature classification High temperature, heat radiation jobs: as between metallurgy, casting, forging, heat treatment furnace workshop, boiler, etc. These workplaces high temperatures, high thermal radiation intensity, is dry and hot environment. Hot, humid jobs: such as dyeing, reeling, paper, wet deep mine operations, mainly due to the large amount of water vapor generated during production or production process requirements workshop to maintain a high relative humidity due. Outdoor summer jobs: as summer farm labor, construction, transportation and other outdoor jobs, mainly due to direct solar radiation and heating the ground and surrounding objects form a secondary effect of the additional heat affected. What are the health effects of high temperature? High temperatures can lead to acute heat-induced illness (such as barbed hot, prickly heat and heat stroke) and chronic thermally induced disease (chronic heat failure, hypertension, myocardial damage, digestive disorders, skin diseases, tropical lethargy, kidney stones, hot water resistance failure, etc.). E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 2010715162605.jpg occupational heat stroke in high temperature operating environment, due to thermal equilibrium and (or) water-salt metabolism disorders caused by central nervous system and (or) cardiovascular disorders as the main manifestation of acute illness. What are the clinical manifestations of occupational heat stroke, heat stroke after how this process? Heatstroke aura: After some time working workplace temperature, dizziness, headache, thirst, sweating, general fatigue, heart palpitations, inability to concentrate, incoordination and other symptoms, the body temperature normal or slightly elevated. Principles: Temporarily out of high-temperature field, and be closely observed. Mild heat stroke: In addition to the aggravation of the symptoms of heat stroke, the emergence of facial flushing, sweating, rapid pulse, such as performance, body temperature rises above 38.5 Æ’. Principles: rapidly from the high-temperature field, to the shade to rest; give a refreshing drink salt and symptomatic treatment. Severe heat stroke can be divided into heatstroke, heat cramps and heat exhaustion III, also can appear mixed. E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 5604331_993159.jpg heatstroke (including sunstroke), also known as heat stroke, high fever, the body heat in hot environments blocked thermoregulatory mechanism disorders caused high mortality rate (20 to 40%). Which is characterized by sudden onset of high temperature environment, the temperature up to 40 Æ’, early disease sweating, followed by no sweat, hot and dry skin may be associated with different levels of consciousness disorders. Heat cramps due to excessive sweating, body sodium, potassium loss caused by excessive. Mainly for the obvious muscle spasm, accompanied by contraction pain. Occur in many activities, such as abdominal muscles and limbs, especially for the gastrocnemius. Often has symmetry. Sometimes seizures, sometimes ease. Patients with clear consciousness, body temperature normal. Heat exhaustion is a high temperature, high humidity environment, increase skin blood flow is not accompanied by a corresponding increase in splanchnic vasoconstriction or blood volume, the body can not compensate temporary brain ischemia induced syncope. The main clinical manifestations of dizziness, headache, sweating, thirst, nausea, vomiting, and then clammy skin, blood pressure, heart rhythm disorders, mild dehydration, the body temperature slightly higher or normal. Usually a short break to clear, generally do not cause circulatory failure. E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke QQ picture 20130701150544.jpg principles: rapidly be physical cooling and (or) drugs cooling; correct water and electrolyte imbalance; symptomatic treatment. Stroke patients with timely treatment, and can be quickly restored without having transferred from the original work. The importance of missionary training E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 201076192404.jpg if workers in high temperature environment, the employer is necessary to workplace hazards temperatures timely assessment of the situation, and to develop plan to prevent heat stroke. In addition, the employer shall provide workers and their exposure to high temperature hazard awareness training competent enough, the content should include the following components: awareness (1) high temperature hazards, (2) occupational heat stroke prevention, (3) how to recognize heat stroke symptoms, (4) when their stroke symptoms appear or colleagues how to do. Remember: If a worker or colleague can leave a hot environment that is in the early stages of heat stroke occurs, you can effectively avoid aggravating the problem. What measures should be taken to control workplace hazards temperature? E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 1315212318.jpg [technical measures] 1 rational design of production processes: Improved production equipment and method of operation is the fundamental measures to improve the working conditions of high temperature operation. Such as steel casting, rolling, casting, enamel and other production automation, allows workers away from heat, while reducing labor intensity. Heat source arrangement should meet the following requirements: à ¢Ã¢â‚¬ËœÃ‚   try disposed outside the shop; à ¢Ã¢â‚¬ËœÃ‚ ¡ When using hot-based natural ventilation, as arranged in the skylight below; à ¢Ã¢â‚¬ËœÃ‚ ¢ When using drafts based natural ventilation, as arranged in the summer the prevailing wind direction leeward side; à ¢Ã¢â‚¬ËœÃ‚ £ take on heat insulation measures; à ¢Ã¢â‚¬ËœÃ‚ ¤ so easy to use cooling measures work place, you can set partition (plate) between the heat source, so that hot air rises along the wall, through the skylight discharge, in order to avoid spread throughout the workshop; à ¢Ã¢â‚¬ËœÃ‚ ¥ hot finished and semi-finish ed out of the workshop should be downwind side or stacked. 2 Insulation: Insulation is an important measure to prevent heat radiation, can use water or thermal conductivity of insulation materials, including large specific heat of water, can effectively absorb radiant heat. E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 7576382.jpg3 ventilation and cooling: through doors and windows, natural ventilation slits have some effect, but the high temperature in this way alone workshop often can not meet the cooling needs, this time can be used to achieve mechanical ventilation cooling purposes. 4 temperature and humidity regulation system: The air conditioning system can effectively reduce the temperature in the workplace, for the presence of open water tanks, steam valves and other heat sources, can be used dehumidifier system reduces the temperature of the air in the workplace. [Health measures] 1 hot work should be supplemented with the sweat of workers equal amount of water and salt. The salt content of the beverage 0.15% and 0.2% is appropriate. Drinking a few times appropriate manner. Labor in a hot environment, the energy consumption increases, so should be appropriate to add the total dietary calories and vitamins. E:. Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 414007_066080.jpg2 temperature worker overalls, should heat, thermal conductivity and permeability of good fabric. Prevent radiant heat, available white overalls made à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹of canvas or aluminum foil. Special high-temperature operation of workers, such as thermal lining repair, cleaning and other types of ladle to prevent intense heat radiation effect, are required to wear masks and wearing thermal insulation, fire-retardant, ventilation heat protective clothing, such as spraying metals (copper, silver) insulation masks, aluminum insulated clothing. 3 workers exposed to high temperatures should be pre-employment physical examination and the summer before, where there is uncontrolled hypertension, chronic nephritis, uncontrolled hyperthyroidism, uncontrolled diabetes, the body above the scar area ≠¥20% (injury standard eight) as well as those who belong to the high-temperature operation of epilepsy disease contraindications, should not engage in high-temperature operation. In addition, arrangements must not engage in female workers during pregnancy third level, fourth level jobs temperature specified in the job grading standards. E: Health Education and Promotion missionaries taught forum 03 occupational hazards and health effects heat stroke 4_110803104730_1.jpg [management] According to regional climate characteristics, appropriate adjustments to labor and rest in summer high temperature regime. Pergola lounge or seating should be set up away from heat sources as possible, there must be adequate cooling facilities and beverages. Large factories can set up special air-conditioning system with the rest of the workers apartment, to ensure workers exposed to high temperatures during the summer months there is sufficient sleepy eyes and rest. Outdoor summer jobs as well as jobs in workplace temperature can not be controlled below 33 Æ’, the employer to the employee shall be paid a monthly allowance temperature. [Organizational measures] (A) The maximum daily temperatures reach above 39 Æ’, the day should stop outdoor open-air work; (B) the daily maximum temperature reached less than 37 Æ’ to 39 Æ’ (excluding 39 Æ’), the day outdoors outdoor working hours shall not more than six hours, 12:00 to 16:00 outdoors outdoor work should be suspended; (C) the daily maximum temperature reaches above 35 Æ’ to below 37 Æ’ (excluding 37 Æ’), the employer shall take the holiday shift, etc., to shorten the time of continuous operation, and shall arrange outdoor open-air job workers to work overtime. (D) shall not cause pregnant women and juvenile workers in the workplace more than 35 Æ’ hot weather and outdoor work in temperatures above 33 Æ’. [Emergency Health Check] For the hot season there have heatstroke aura job workers, or exposure to high temperatures due to the accident or occupational exposure may lead to heat stroke populations (including participation accident rescue personnel), when asked whether headache, dizziness, chest tightness, palpitations, sweating , fever, little or no urine and other symptoms, and observe the condition of consciousness. Physical examination should focus on checking temperature, blood pressure, pulse and nervous system, and carry out blood, urine, serum electrolytes and renal function and other laboratory tests. Diagnosis apply occupational heat stroke] When the diagnosis of occupational institution for occupational heat stroke diagnostic materials need to be prepared include: (A) proof of evidence of health damage, such as occupational health inspection results; (B) evidence to prove labor relations, such as labor contracts, work permits, the employer proof; ID card copy (three) require diagnosis workers; (D) Other evidence: as occupational history, history of exposure to high temperatures and weather conditions at work, workplace temperature detection and evaluation information.

Authors Treatment of Fate and the Supernatural in Short Stories Written Before 1914 :: Short Stories Yellow Wallpaper Lost Hearts Essays

Author's Treatment of Fate and the Supernatural in Short Stories Written Before 1914 Using a selection of short stories written before 1914, compare and contrast their authors’ treatment of fate and/or the supernatural I understand the term supernatural to be an event or being that is abnormal in some way and for which there is no rational explanation. Although traditionally the supernatural is confined to spiritual beings, such as ghosts, I perceive it to have a much wider meaning. I will be investigating how certain writers of short stories view the supernatural and how they adapt it into their stories. The authors I will be looking at in this essay are M.R.James, Thomas Hardy and Charlotte Perkins Gilman; their stories, Lost Hearts The Withered Arm and â€Å"Yellow Wallpaper,† respectively. I will be focussing mostly on the supernatural in this essay, but will also investigate the question of fate briefly. Fate is the suggestion that all events happen for a reason, and that there is a greater power watching over us. Both these subjects are ones that greatly interested the Victorians, the era in which these stories are written. They were especially intrigued by the spiritual world, and the upper classes held sà ©ances, attempting to contact the dead. This preoccupation with the supernatural, and indeed fate, is one that emerges repeatedly in these short stories. The first story that I will be looking at is The Withered Arm by Thomas Hardy. Hardy’s style was very progressive for the time, but also reactionary; conservative, even, in certain aspects. His stories have a preoccupation with fate and the inevitability of death. The main supernatural aspect is the vision of Mrs Lodge that Rhoda sees. The vision taunts her, and Rhoda retaliates by grabbing its arm. The vision appears sitting on her chest whilst she is in bed: â€Å"The pressure of Mrs Lodge’s person became heavier,† and yet is not Mrs Lodge as she should be – â€Å"But the features were shockingly distorted, and wrinkled as by age.† Although Rhoda can feel its presence, it is extremely strange that it should be sitting on her chest in the middle of the night, and it is undoubtedly a vision or a distortion of a dream. Harding even describes it as a â€Å"spectre.† This is further confirmed by its sudden disappearance, â€Å"She looked on the floor whither she had whirled the spectre, but there was nothing to be seen.† The whole story really revolves around the actions of the spectre or vision, and this is the definite supernatural element in the story. Later on however, both women go to see a â€Å"Conjurer Trendle,† and Mrs Lodge sees the face of the person who cursed her in

Keiran Austin, Yr 11 English, Mrs Ferguson :: English Literature

Keiran Austin, Yr 11 English, Mrs Ferguson THE DIVINE WIND The description of the situation in Broome portrayed in The Divine Wind is a complete accurate account of the events that occurred during 1938- 1946. Practically everything in the novel was precise including the description of Broome, the Japanese internees, the dates and things as detailed as street names. It is quite obvious that Garry Disher had studied the town in depth before writing the novel. The fact that Broome is described as a pearling town with a tropical existence is true. As quoted in The Divine Wind â€Å"Broome was a straggling mile of wood and corrugated- iron shops and dwellings† (pg 1and). This quote is a precise vision of what Broome would have looked like judging by descriptions from various sources of information and photos from that period in time. Even though the characters are made fiction the major events are real and the author has gone to such detail by using exact dates. For example the pinnacle of Broomes direct involvement in the war occurred on 3rd March, 1942 when Japanese Zeros Bombed Roebuck bay. As quoted in the Divine Wind â€Å"I was burning. Some of the scars I have now are from that fire, the burning water of Roebuck bay on 3rd March, 1942† (pg 144). Another example of the accuracy of dates in the novel is the 8th December, 1941 were Authorities began interning Japanese residents. As quoted in the novel â€Å"The authorities acted swiftly on 8th December, right around the country. In Broome a hundred Japanese were arrested and taken to jail† (pg 105). Other important facts that have been accurately recorded in The Divine Wind are how the residents of Broome were faced with rounding up and interning friends and employees simply because they were Japanese. This is an excellent description of what the Anglo Saxons were faced with doing regarding the Japanese. Other facts state that many of the Japanese who were born and raised in Australia and had no Japanese ties were interned. As quoted in The Divine Wind â€Å"They interned single women, old men, children. They interned European and Aboriginal wives of Japanese born men, mixed race children, Australian- born Japanese. Many had never been to Japan† (pg 113). This is an example of the accuracy of the people who were interned. An area in this subject that perhaps wasn’t so accurate was the treatment of the Japanese community. Reality shows that in Broome the residents tried to make life as easy as possible for the Japanese bringing food and presents too the camp and allowing regular visits to town to go shopping.

Examine the Reasons for Changes in Birth Rates

Since 1990, there has been a declining trend in birth rates and family size. The birth rate refers to the number of live births per 1000 of the population per year. There have been incidents of ‘baby booms' during the 20th century, where the birth rate has suddenly increased. These include after both world wars and during the 1960s. However, overall the birth rate has been decreasing. There are a number of social factors responsible for these changes. Firstly, the changing position of women in society has been partially responsible for the decline in birth rate and family size.The changes include greater equality changes between women and men, more education and work opportunities for women, easier access to divorce and wider availability of contraception and abortion, allowing women to control their fertility. as a result of these changes, women are seeing other possibilities in life other than marriage and childbearing. Many women are delaying child birth and putting their ca reers first. this leads to them having children at a later age and consequently being unable to have several children. Furthermore, a change in social attitudes mean some women are not having children at all.In addition to this, many sociologists argue that a decline in infant mortality rate leads to a decline in birth rate. They argue this because couples are not having children to replace the ones they have lost in infancy, as infant death is much rarer. In 1990, 15% of babies born died before their first birthday. Today, the infant mortality rate stands at only 5%,a great decrease from 1990. The decline in infant mortality rate is linked to a number of factors including improved healthcare, better nutrition for both babies and mothers and better care for mothers and their children through agencies such as antenatal and postnatal clinics.The decline in infant mortality, it is therefore argued, has a direct impact on the birth rate. Furthermore, birth rate and family size have decr eased since 1900 as children have become an economic liability. Previously, children had been sent out of work to earn an income, such as chimney sweep boys during the Victorian era. However, laws banning child labour and the compulsory education extending means that children are not aloud to earn an income. Instead they remain economically dependent on their family for longer.Additionally, children's material expectations have risen, meaning the cost of maintaining children has too. Increasing child expenditure has led to a reluctance from couples to have large families, thus the birth rate has decreased. The child-centered attitude that has now become prevalent in society is a final reason for a declining trend in birth rate and family size. The social construction of childhood has led people to view childhood as a unique, important period in a persons life.In relation to this child-centered attitude, parents' attitude has shifted from ‘quantity' to ‘quality' when it c omes to their family. This means people prefer to have a smaller family size so they can spend more attention on children during their important life stages. Overall there has been a steady decline in birth rate and family size since 1990. This has been due to a number of social factors including the changing position of women, the decline in infant mortality rates, changes in child laws and social attitudes towards childhood as a social construct.

How Economic Growth Shaped Dubai as a City

HOW ECONOMIC GROWTH SHAPED DUBAI AS A CITY As powerful and influential as they are, history has shown us metropoliss are vulnerable to extremist alterations, albeit if they are good or bad, forced or uncoerced, they bear the capablenesss to transform the city. jpg" src="https://s3-eu-west-1.amazonaws.com/aaimagestore/essays/1499275.002.png">This essay aims to research how a metropolis can be transformed by a force, and as a premier illustration the designated metropolis chosen is Dubai. As one of the biggest and fastest turning metropoliss, the metropolis is an ideal illustration as Dubai has risen quickly to make a repute for itself. It is merely within the last 30 old ages, that the metropolis has witness rapid growing, chiefly due to income generated from oil gross but besides from economic sciences and industrial developments. Context – Dubai pre oil Located on the Arabian Gulf, Dubai began as a hamlets for travelers and bargainers, before it was subsequently established as a fish small town in 1830. The majority of income in the country came from fishing and pearling, while the initial primary motivation for control in the country was chiefly commercial. This was due to the purpose to order the spice trade ; a critical trade good during the clip due to its usage in the saving of nutrient. The Portuguese were the first to colonize the gulf, with the British subsequently emerging as a strong influence within the Gulf part for strategic grounds. The first stage of Dubai’s urban development occurred from 1900 to 1955 ; nevertheless the overall growing was slow and limited due to economic restraints and fringy growing in population. British influence remained strong during this period, highlighted through the country’s aid with a series of development undertakings. At the clip many of these undertakings were arranged in expectancy of fiscal addition from oil gross. However British hegemony finally weakened following WW2, taking to a planetary rise in anti-colonial motions, with the united provinces emerging as a replacing. Dubai as a part was divided into countries located at the oral cavity of the brook, by which the full population was confined to three little enclaves. This country was of great importance at the clip, as the chief gross of income came from fishing and pearl diving. Until 1955, the urban country did non transcend 320 hectare, with the big bulk of the land used for residential intents, while countries for commercial infinite were limited. Prior to the first building of a concrete edifice in 1956, the huge bulk of local dwellers lived in traditional ‘Barasti’ places, built from thenar fronds. The places were built in bunchs to supply the occupants with privateness, but besides tribal security as a group. Discovery of oil The find of oil in commercial measures in 1966, acted as the accelerator for rapid growing and substructure development within Dubai. Aware that the finite resource will finally go scarce, the pick was made to diversify the country’s economic foundations, with touristry the desired sector. The gross generated as a consequence, was invested into substructure developments such as schools, infirmaries, roads and besides a modern telecommunications web. This urban growing was allowed due to 3 chief factors ; economic richness, technological progresss in transit and besides political alterations over land usage. While the touristry sector generates the bulk of the city’s surplus, the province besides additions value through a series of free-trade zones and high tech bunchs. This attracts companies to put and re-located to Dubai, due to freedom and openness of Dubai’s trading Torahs, with the correlativity of greatest growing in mega enclaves or specialized bunchs. The first stage of Dubai’s urban growing was characterised as spacial enlargement established through size, visual aspect, and the city’s urban morphology, while the 2nd stage was focused on the thought of compact growing. This period extended from 1955 to 1970, during which British influence still remained strong, reflected through the states influence on assorted undertakings, such as that of British designer Jon Harris. In 1960 Harris manifested the thought of giving Dubai a more functional and modern layout, through the proviso of a route system, and specific countries for ; industry, commercial, public and residential countries, and besides the creative activity of a new town Centre. Dubai after oil The find of oil in commercial measures drove Dubai’s economic addition, leting the metropolis to spread out at a more rapid rate. In 1971, Harris’ new maestro program was introduced to better the city’s substructure, while his vision to spatially organize the metropolis into countries of different usage was besides manifested. Numerous developments besides occurred on the corridor along Skeikh Zayed Road, Nicknamed ‘new Dubai’ , the country emerged as the new commercial and fiscal Centre of the metropolis. There is an compulsion for everything to be monumental and record breakage, highlighted through the heroic proportions of Dubai’s undertakings ; the tallest edifice, the biggest unreal island, the largest subject park, biggest promenade and the largest international airdrome, are a few to the list. Dubai’s urban individuality is of all time altering, with the strive to make extraordinary architecture shown through the latest proposal of a 1:1 graduated table of the world’s best of, dwelling of landmarks such as the Eiffel tower and pyramids of Giza. Spatially, Dubai is divided into ‘city’s’ which cater for different industries, while many of the Dubai’s skyscrapers are located along Sheikh Zayed Road, a stretch of main road associating Dubai to Abu Dhabi. Of the assorted ‘city’s’ , the chief consist of an ‘internet’ metropolis, an substructure environment which caters for the city’s’ ICT on a local and planetary scope. Situated nearby is Media metropolis, which is arranged in a similar manner to internet metropolis, with the primary industry directed at media, while ‘studio city’ is a developed country which caters for production demands. Amidst the rapid enlargement of industrial metropoliss, and sky scrapers, there is an interesting deficiency of cultural undertakings such as museums and Centres, once more perchance raising the point of a soulless metropolis. The population of Dubai in 1995 counted at about 700,000, while the figure now stands at over 2 million, a drastic addition in a short period of clip. This figure is multi-cultural, with the locals organizing minority, and amidst this population combination, society is really unfastened minded. This free and unfastened political orientation has helped Dubai’s growing as it encourages investing and touristry. There are downsides, with the diverse population mix, and location of the metropolis at the tip of the Arabian Peninsula, intending the part can be vulnerable to a figure of struggles. However these struggles have been resolved spatially, achieved through a policy which promotes co-existence, but can besides be defined as controlled segregation through defined lodgers such as enclaves and zones. While the rapid growing is monumental and without uncertainty impressive, there are critics to the Dubai’s growing. The mega undertakings are perceived as economic and corporately driven, with the metropolis missing distinguishable history and ‘soul’ . Even so that the Burj lead designer Tom Wright admitted he did non cognize where Dubai was located prior to the undertaking. The Sail and thenars are easy recognizable symbols, and have been used smartly as a selling gambit. Claimed as symbols of Dubai, they are act more as cosmopolitan characters and are non needfully entirely linked to Dubai or the UAE. Decision: It is without uncertainty that the find of oil on a commercial graduated table has been the chief drive force behind Dubai’s drastic alteration from a fishing small town, to planetary mega metropolis. The gross generated has acted as the springboard for investings, and development on big graduated tables ; nevertheless other complecting factors have to be considered for the city’s transmutation. The province control free market capitalist economy helps supply Dubai with an unfastened market to turn, really much like how China has, while in comparing to metropoliss such as London, which is restricted by its history. The strategic move to diversify and turn Dubai into a expansive tourer finish, was the concluding portion of mystifier as to talk, with the addition in monumental undertakings such as ‘The universe islands’ , ‘The Palm’ and Burj Khalifa, merely a few to call, which cater for tourers, and besides specify Dubai as a metropolis. Amidst the flashiness and glamor, the metropolis is non a functional as it appears to be, with many to the freshly formed edifices, aimed towards bring forthing gross, opposed to spacial jobs. There is an sole nature to Dubai’s mega undertakings, with many located offshore, and controlled entree thorough a assortment of agencies: security guards, entryway fees.While societal divisions have been created within the population due to the rapid growing, frequently between the privileged, and workers. As a whole metropolis lacks historical context and individuality prior to the economic roar, whether if that is a negative or non remains to be seen, with the metropolis turning at an dismaying yet impressive rate, the sky and sea is the bound †¦ Bibliography Text: Davis, M. , 2008.Evil Edens: Never-never lands of Neoliberalism.s.l. : The New Press. Elsheshtawy, Y. , 2004.Planing Middle Eastern Cities: An Urban Kaleidoscope in a globalizing universe.s.l. : Routledge. Mangan, J. , 2008.Global Logistics and Supply Chain Management.s.l. : John Wiley & A ; Sons. Wright, H. , 2008.Instantaneous Cities.First edition erectile dysfunction. s.l. : Black Dog Publishing ; First edition. Brook, D. , 2013.nextcity.[ Online ] Available at:nextcity.org/daily/entry/how-dubai-became-dubai( Accessed 30 December 2014 ) . Images: Weburbanist. ( N.D )City image[ Online Image ] hypertext transfer protocol: //weburbanist.com/2011/02/21/then-now-the-stunning-speed-of-urban-development/ ( Acessed: 12 January 2015 ) David Teather. ( 2009 ) Palm Islands resort [ Online Image ] hypertext transfer protocol: //www.theguardian.com/business/2009/dec/21/dubai-world-dubai ( Acessed: 12 January 2015 ) Dubaiforvisitors. ( N.D ) Dubai Map [ Online Image ] hypertext transfer protocol: //dubaiforvisitors.com/wp-content/uploads/2008/06/dubai-map.jpg ( Acessed: 12 January 2015 ) 1

Ethical and psychological Egoism Essay

Egoism is the theory suggesting that the motivation and goal of a particular action is the self. Egoism in a general context has two variants, normative and descriptive. The concept of the descriptive variant suggests that egoism as a factual description of human affairs and cannot be described any other way (Moseley, 2006). The normative side gives a conception that individuals should be motivated, without consideration to their current state of motivation (Moseley, 2006). The two variants conflict in principle alone which insinuates a debate on the rightness or wrongness of particular human acts throughout history. Ethical Egoism Ethical Egoism is a normative ethical standpoint which implies moral people should act in accordance to their self-interest. Ethical egoism has three formulations; personal, individual and universal (Waller, 2005). Individual ethical egoism stresses that a person should do what is most beneficial to them (Waller, 2005). Personal ethical egoism suggests that actions should be grounded on a person’s own self-interest without concern to what others around him should do, while the concept of universal ethical egoism holds that everyone should act in the basis of their own interests (Waller, 2005). All in all, virtues that suffice an individual’s self-interest is egoistic, otherwise it is non-egoistic (Waller, 2005). The strong version of Ethical egoism suggests that the promotion of an individual’s own good is moral, not promoting one’s own good is deemed as immoral (Moseley, 2006). The weak version still holds that morality is the promotion of one’s own good, however, it does not necessarily mean that it is immoral (Moseley, 2006). There are just implications of conditions that the evasion of personal interest has a possibility to be moral (Moseley, 2006). Psychological Egoism Psychological Egoism, on-the-other-hand, posits that every human action has an underlying selfishness, and even altruistic acts have inner selfish motivations (Hazlitt & Cook, 1991). Psychological Egoism is a form of egoism under the descriptive variant, suggesting how people should go about themselves. The principles of psychological egoism and its assumtive nature are acquainted to several criticisms that are very crucial (Moseley, 2006). The fallacy of Psychological Egoism  The detractors of Psychological Egoism ground its fallacy on the rejection of the notion that the theory is flawless, that it is structured in such a way that it cannot be approved or disapproved (Hazlitt & Cook, 1991). It is evident on the Psychological egoists’ advocacy that altruism is a mere act of acquiring a good feeling for doing altruistic actions. In a broader scenario, the person doing an act, either selfish or unselfish, is doing what interests him or her which makes the act ultimately selfish (Moseley, 2006). In another note, the fallacy of psychological egoism lies in the suggestion that people only do what makes them feel good. In this context, the description of a Psychological Egoist may project an unselfish person (Moseley, 2006). Furthermore, there is confusion in the concept of psychological egoism found in the object of desire and the subsequent results of the fulfillment of that desire (Moseley, 2006). The Difference between Psychological and Ethical Egoism It is of vital importance to distinguish the two from one another since the two forms of egoism conflict in advocacy, motivation and goal. Ethical Egoism per se, postulates that the promotion of an individual’s own good conforms to the standards of morality (Waller, 2005). In contrast to the Psychological Egoist claim that focuses on how people act, not on how they ought to act. The doctrine of motivation for Ethical Egoism lies within self-interest, while Psychological Egoists are motivated by the rational self-interest, even in an act that tends to be altruistic in nature. Self-Interest and Selfishness Self-interest is defined as an agent that stimulates an individual’s concern over a particular issue or matter. Self-interest is the element that governs human action. Selfishness, meanwhile is the devotion to satisfy one’s own end and interest. It is simply an individual’s concern for personal welfare. Philosophically, the two terms may be synonimous to each other as the two terms may refer to the placement of personal needs above others, however, self-interest and selfishness can be deemed independently as self-interest is a subjective element in a person’s perspective which can be directed to the self or for others.

Original Writing – Birkan Akin

It was a dark night on a small island off the coast of Maine; I heard a shot, and a gunshot that echoed in my ears it felt like I was wounded. On the night of the gunshot a fisherman disappeared. The body was absent from the day of the gunshot, a young man known as Ryan Adams was accused of the murder. Years later the fisherman was found, found for just a few seconds he was found by a young girl who was playing in the sea when she suddenly felt a hand. I was at the scene firstly it seemed like the girls was drowning, I went for her rescue thinking that she is drowning, but then a yellow raincoat flicked into my eyes. I screamed out â€Å"its him, its him it's the fisherman that went missing at the gunshot scene†. I was in shock I couldn't believe it, then I suddenly saw the fisherman moving he was getting, getting out of the sea. I screamed â€Å"he's alive he's alive† I saw for one moment and the he vanished, disappeared he was gone. I couldn't even say stop, wait, don't go†¦he was gone. The following day everybody in the island was talking about the return of the fisherman, but just for a few seconds. On the same day the young man Ryan Adams that was accused of murdering the fisherman was set free. A further investigation was in process the investigation was named as ‘who fired the gunshot?' Since the day the fisherman reappeared he was never seen again. One night I went out to the seaside to catch some fish for dinner, the sky was pitch black I couldn't see anything. When I was fishing I heard something, something that was thrown into the sea from a distance. I turned around and looked at the shaw it looked like I saw the fisherman it looked he had that same yellow raincoat I was sure it was him because it looked like he was getting closer to me. I packed up my equipment and headed towards my home. I had another look back and I saw the fisherman in distance, he was running, running towards me. When I looked carefully at him it looked like he was carrying something in his hand, it was hard to describe from such distance but as he got closer I started picturing it, it looked like a gun. I was shattered, scared in amazement. He was getting closer and closer and closer and closer, then I heard a gun shot it was echoing in my ears it sounded like the bullet was getting closer†¦then suddenly I flew out my bed and started screaming â€Å"agghhhhhhhhhhhhhhhh†¦its was a dream, a dream, a dream that know one would ever believe.

Finance: United States Dollar and Exchange Rate Risk Essay

Your write-up should be eight to ten pages (double-spaced). If you provide information outside the case or the textbook, use a footnote to indicate the source. You can use pictures, but no more than four, and each figure should be no more than half a page in size. 1. Executive Summary. Briefly describe the history and business of Tiffany’s Co. What type of decision did the company have to make in 1993? Why was the decision important? 2. History of Japanese Yen. Describe the historical exchange rates between Japanese Yen and U.S. dollar over time. Focus on the big changes and what was the exchange rate in (and years before) July 1993. 3. To Hedge or Not? Do you think Tiffany should actively manage its yen-dollar exchange rate risk? Why or why not? Explain the benefits and costs of hedging. 4. What to Hedge? If Tiffany were to manage its exchange rate risk, then identify what exposures should be managed via such a hedging program (e.g., hedge sales, hedge gross profit, or hedge cash flows, etc.). Explain why. 5. Forward or Options? If Tiffany were to hedge the yen-dollar exchange rate risk, it can choose either forward contracts or options. Explain how Tiffany can hedge using forward contracts? How to hedge using options? The available forward contracts and options are described in Exhibit 8, assuming Tiffany can only use those derivatives to hedge. Based on what you have learned in this course, what are the pros and cons of using options to hedge compared to using forward contracts to hedge? 6. Your Decision. If you were CFO of Tiffany, what would you have done in July 1993? No hedging at all? Or hedging? If you decided to hedge, quantify how much of these exposures should be covered and for how long. You have to justify your answers. Note that there is no â€Å"correct answer.† The reasoning is more important. You should obtain information from Tiffany’s financial statements (e.g., Exhibit 3) and use information in the case (e.g., on page 3 it says that â€Å"Tiffany’s sales accounted for only 1% of the $20 billion Japanese jewelry market†) and then make an educated guess on what is the exposure and how much you want to hedge and how (i.e., using forward contracts or options or a combination.) Again, if two groups have similar write-ups, both write-ups will receive a grade of 0. Also, you should provide an answer to each specific question. Quantify questions 5 and 6. Otherwise you have to rewrite. Finally, I just want to clarify the option prices in Exhibit 8 in case 2. The left panel says Calls: it means these are call options on U.S. dollars, and these are from Japan’s point of view, not from U.S.’s point of view. So the left panel gives you the right (but not obligation) to buy U.S. dollar with Yen (i.e., sell Yen for dollar), and that is what you want to use. Do not use the right panel. You may ask, how come the case says that Tiffany should use Yen put options to hedge? Well, a Yen put option IS a dollar call option, why? A call option on US dollar, written at an exercise price in terms of Yen, is a put option on Yen, written at an exercise in terms of dollar. For example, in Exhibit 8, the three months call option on dollar with a strike price of 92Yen has a premium of 2.52 100ths of a cent per yen (i.e., premium is 0.000252$/yen). This call option gives you (mainly Japanese investors) the right to buy $ using Yen, that is to say, it gives you the right to sell Yen at (1/92)$, therefore, this is a put option for Yen from U.S. investors’ point of view. Bottom line, since Tiffany has Yen exposure, so you want to sell Yen as financial manager of Tiffany, so you should use the left panel, not the right panel.

Kingdom Centre Tower in Riyadh Essay Example | Topics and Well Written Essays - 5750 words

Kingdom Centre Tower in Riyadh - Essay Example The project gives brief recommendations concerning the intent and design of the project. The inclusion of multiple entities - including residential areas, possible recommendations concerning the project would include support for these other entities. This theme could be expanded upon by surrounding out-buildings supporting the central tower. According to the research findings, it can, therefore, be said that the 'Necklace' for the city of Riyadh, the Kingdom Center tower is an iconic structure truly worthy of study. The tallest building in Riyadh, it is a modernist/postmodern architectural design intended as a crown jewel, and hub of commerce for the Kingdom in general, Riyadh specifically. The most distinctive feature of the tower is the inverted catenary arch encompassing the top floors of the structure. Unique in the Middle-East, the Kingdom Center Tower has been retained by Prince Alwaleed as integral for a Kingdom Centre Tower construction project in Riyadh, Saudi Arabia. Among the firms consulted during the design and construction process was Kramer Design, for consulting and design assistance in terms of development and installation of the various, advanced features of the structure; including what purports to be the largest outdoor video display system along the outer surface, utilizing LED (light-emitting diode) technology. But the video system was also developed with the intent of allowing unimpeded interior views from within the interior offices, and retail centers. The Kingdom Center tower possesses a curtain wall mullion system, the strategic development of which prevents the obstruction of the outside world, while permitting revenue-generating advertisements and announcements of interest to aid in the promotion and marketing for the unique hub of commerce. (Kramer-design.com, 2012) The Centre was the winner of the 2002 Emporis Skyscraper Award, a rigorous process by which it was selected in that year as the best new skyscraper, due to its innovati ve design and functionality. (Emporis.com, 2012) Upon entering the main lobby, the visitor is greeted by an elliptical area with ribbed vaulting, a fountain, and elevated walkways decorated with rows of palm trees. The inverted arch theme is also found on commemorative souvenirs, and influences light fixtures surrounding the structure in its parking lot with a capacity for 3,000 automobiles. (Skyscraperpage.com,

Linear programming applied to Aggregate Production Planning Research Paper

Linear programming applied to Aggregate Production Planning - Research Paper Example The research paper "Linear programming applied to Aggregate Production Planning" analyzes the employing of linear programming for the aggregate production planning that aims to minimize the overall cost associated with the aspect of planning. Aggregate planning problems for flat screen monitor can be resolved and production optimized by using linear programming to reduce costs. Linear programming can also be used in finding an optimal solution to problems for the purpose of minimizing total costs by affecting variables such as the workforce and the demand planning, as well as the minimization of the inventory balance and holding cost. This can be attained through the minimization of the inventory investment, the variations of the production rate and the changes in the level of the workforce. In order to optimally allocate the scarce resources, the mathematical procedure called mathematical programming or constrained optimization or simply optimization can be used. Linear programming can be defined as the most special and famous form of constrained optimization, which has been found to be applicable, in practice, in almost all the aspects of contemporary business strategies. The most typical elements of the linear programming problem analysis comprise of the issues related to aggregate production planning and transportation. Though, the mathematical programming is totally different from the compute programming however the computer program can help in the estimation of the optimal solution of the linear programming model.... 2. Linear Programming Model Formulation In order to optimally allocate the scarce resources, the mathematical procedure called mathematical programming or constrained optimization or simply optimization can be used. Linear programming (LP) can be defined as the most special and famous form of constrained optimization, which has been found to be applicable, in practice, in almost all the aspects of contemporary business strategies that range from advertising to production planning. The most typical elements of the linear programming problem analysis comprise of the issues related to aggregate production planning and transportation. It is important to note here that the mathematical programming is totally different from compute programming however the computer program can help in the estimation of the optimal solution of the linear programming model in the mathematical programming. The computer programming refers to the development of the instructions for executing certain task or work ing out some calculations whereas the mathematical programming refers to organizing and planning of a task to achieve. Hence, knowing one of the above mentioned forms of programming does not directly relate to the other form quiet as much however the aptitude in one signifies the potential for the other. Mostly, there are two fundamental and important classes of objects for an optimization problem. The first class of objects is confined or limited resources that include the production capacity of the plant, land, size of the sales force, etc.; these examples have been given in relation to aggregate production planning. The second class of objects refers to the activities or tasks that include produce

Problem Customers Essay Example | Topics and Well Written Essays - 1000 words

Problem Customers - Essay Example When we consider the above problem we can mention 7 types of problem resolution and recovery procedures. They can be termed as follows: 1. The problem resolution regarding the customers who claim services like electricity, telephone, internet and mobile phone services. 2. The problem resolution regarding the customers who buy goods on instalments and do not pay citing different reasons. 3. The problem resolution regarding the customers who bargain on price of the goods without compromising on quality 4. The problem resolution and recovery procedures for the customers who stop the payment of bills in post paid services due to unnecessary dissatisfaction. 5. The problem and resolution and recovery procedures for the customers who pay the deposit and use the services that cost more than the deposit without paying for the post paid service 6. The recovery procedures regarding the customers who do not handover the articles that are supplied for the utilisation of the company's service even after disconnection of the service 7. the problem resolution regarding the customers who value quality of service, goods and nice treatment from the sales persons. In dealing with the 1st type of customers they try to pay the bill a little bit late but want to avoid the penalty. If the late is understandable and not a loss to the company, the executive or a manager can take the decision of not imparting on him the penalty and it can be conveyed to the customers. This makes the problem customer who delays the payment but not fails, stick to the company. In dealing with the 2nd type of problem customers they delay the payment of instalment due to the dissatisfaction of the working of the instrument they buy on... Before talking about the three types of scenarios for three types of problem customers, let us talk about the problem customers who should be fired out of the marketing circle of the company. This is possible when the company is sure about the service offered by it is up to the point of maximum quality. They can rely on the point that the complaint of more than one customer only can be considered. If only one customer continues to complaint more than once and twice and if other customers are not facing the problems faced by this customer, it is fine for the company to fire him out. The reason behind is maintaining the customer is not cost effective for the company. 1 In dealing with the 1st type of customers they try to pay the bill a little bit late but want to avoid the penalty. If the late is understandable and not a loss to the company, the executive or a manager can take the decision of not imparting on him the penalty and it can be conveyed to the customers. This makes the problem customer who delays the payment but not fails, stick to the company. In dealing with the 2nd type of problem customers they delay the payment of instalment due to the dissatisfaction of the working of the instrument they buy on instalments.

Archaeology through DNA analysis Essay Example | Topics and Well Written Essays - 5000 words

Archaeology through DNA analysis - Essay Example An example can be seen through a recent discovery which led a group of researchers' claim into having been able to positively identified the remains of Copernicus-the first astronomer who theorized that it is the Sun, not the Earth, that is in the center of the universe. Such findings have put an end for years of debates and speculation over the location where the 'unsung hero' was exactly buried. The article ensues from the discovery of a grave and remains under the floor tiles of the cathedral where Copernicus was purportedly buried by Polish archaeologist Jerzy Gassowski and his team last August of 2005. Hence, a thorough examination of the article suggests that there is heavy dependence on the field findings for which the resources for the DNA analysis were indeed drawn from. Such were the tooth and a femur bone of the remains that were matched with a separate finding of two strands of hair from one of the said astronomer's books. Furthermore in support of the result through a dissimilar process, experts' reconstruction of the skull shows distinct indications of several facial features from Copernicus's portraits. This includes a broken nose and a cut above the left eye which coincides with a scar mark. The reconstruction also paved way to a visualization of Copernicus's face in flesh. On account of the quantitative significance of these field findings, it can still be assumed that the performed DNA analysis endowed such findings with more meaning. Through the DNA analysis, experts and researchers were able to merge the "minor" individual discoveries (i.e. the suspected remains, the hair in Copernicus's book and Copernicus's portraits) into a more conclusive and well-harmonized "major" discovery. Consequently, this article demonstrates that archaeology is not enclosed within pure discoveries but it also concerns verification of those discoveries. And now, with the advancement of technology, we are stimulated by the fact that even the smallest and most seemingly marginal of field findings before, that of a single strand of hair can also possibly yield significant contributions to the verification of a major discovery. It is important to note then that "minor" discoveries can be as relevant as "major" discoveries such that the former also constitutes the latter. With the technology of DNA analysis at hand, it can be presumed that archaeologists today are faced with deeper challenges on extracting and handling evidences from archaeological sites and in material resources. More so, the article also illustrates another magnificent advancement in technology. That is, the ability of experts today to generate a flesh visualization of deceased beings-whether humans or animals, through the reconstructions of their skulls. With this, the public may become more interested and be able to relate more with history as they are being discovered. Study of Migration in Africa through DNA analysis Another popular function of DNA analysis, which has been mentioned earlier, is genealogy detection. Recently, this technique has been used by Stanford University researchers in order to determine traces of ancestry between two regions in Africa at different periods of time. This has led the researchers to have successfully established that animal-herding methods were brought to Africa through migration rather than through the sharing of knowledge in between groups of

Human Resource Management & Organisational analysis MSc Personal Statement

Human Resource Management & Organisational analysis MSc - Personal Statement Example My goal is to practice the best Human Resource in the organizations I will work for. I am a graduate from Hult International Business School in London where I studied Bachelor of International Business Administration and specialized in Management. I have worked in the bank of Respublika as an accounting specialist and I enjoyed my role as I got to interact with customers and making transactions for them. I have also worked for Look magazine in the UK and I was glad to share ideas on how to redo their Website and journal to make accessibility for customers easy as well as sharing ideas on how to increase profits. I trust that my decision to purse the course in King’s College is one of best decisions I have made in my life. This is because of professional lecturers, state of art equipments, the conducive learning environment, and the good reputation of the institution. I am confident that as I undertake the course in King’s College, I will accomplish my goals and I will be in a better position to face the Human Resource practices in any organization. I intend to work hard and in the end achieve the best results and be marketable

Article Assignment - 5 Essay Example | Topics and Well Written Essays - 500 words

Article Assignment - 5 - Essay Example The basic difference between the two service types is that while one taps the spiritual and religious sensibilities of a child or youth the other tries to awaken or breed social and moral responsibilities. The faith based services are planned out with a certain perspective and that is to help the youths regain their faith and at the same time being permitted to practise the faith he wants to (Evaluation Review, p 125). The main intention of emphasizing on faith based program is to cultivate in the delinquents spirituality and also to develop in them a positive and elevated state of mind. It would not only make them self-composed but also make them emotionally mature. To this end youths are to be provided with mentors who would give them the required guidance, support and most importantly encouragement. However, while extending faith based services there must not be any kind of pressure or manipulation to convert the participant into some other faith (Evaluation Review, p 125). One must enjoy complete freedom in choosing one’s faith. The main purpose is not limited to preaching didactic stuff but to develop inner conscience and self awareness or realization among the youths so t hat they can lead a good life within society. The community-based services are secular in nature and focuses on areas like strengthening family bonding and practising secular exercises like thinking for a change and character education (Evaluation Review, p 122). The community based services are for those youth participants who have chosen to be put under a secular mentor. The emphasis of the community based service curriculum seems more to be on developing finer sensibilities to appreciate and value relationships and family. Such a service also teaches the social skills like adaptability, acceptance and the ability to reach out. In accordance with the conceptual planning relevant activities to be performed by the

Globalization, Foreign Direct Investment (FDI), or Multinational Essay

Globalization, Foreign Direct Investment (FDI), or Multinational Corporations (MNCs) - Essay Example On the other hand, poverty and inequality emanates from disorganization and injustice among the developed countries in the global market who instead should work at developing the global economy to greater levels. According to Cohn’s perspective, globalization entails activities that assist countries and societies to broaden and deepen thus increasing their interdependence around the world. Broadening and deepening is the establishment of links and using them to increase the regularity and intensity of the communications, transactions, relationships and general interactions among the involved societies and states. Globalization has led to developments in management and other significant sectors in the corporate world as companies come up with excellent strategies to overcome the competition and as a way of keeping up with the trends1. The vast growth in international market relates with developments in areas such as communication and transportation technologies that are key facilitators of the strategic links between the participating states and Multinational Corporations (MNCs). However, globalization’s impact varies in the different countries and in most cases; it threatens th e domestic autonomy causing issues among the local economies. Upon entry into the international market, countries take up new roles and responsibilities, that allow them to make any policy choices. The policy choices are the determinants of states and societies’ experiences of globalization i.e. unity and cooperation or fragmentation and conflict. Multinational Corporations (MNCs) are companies that distribute goods and services across borders with an aim of spreading ideas and controlling assets in more than one state. They play a significant role in globalization and economists argue they make the greater part of it. MNCs mostly practice Foreign Direct Investments (FDI): in order to manage rights and control economic transactions in different states. Realists link globalization with

The Lemon Tree Dilemma Essay Example for Free

The Lemon Tree Dilemma Essay The website EEOC.gov should be a bookmarked site for any individual who is working as or plans to work as a manager in a business with more than one (i.e., the owner) employee. This website contains the information that the federal government expects companies and businesses to use and follow with respect to hiring, firing, and disciplining its employees. It explains disabilities, how to handle them, and when to use them in making hiring decisions. It also provides information about protected classes, in which people must be a member before they can claim discrimination. You should plan to visit the EEOC website during this week to help work through this ethical dilemma faced by Paul and Mary, two managers in the company in The Lemon Tree. Read through the fictional dilemma, and then choose the subject of discrimination discussed therein, planning to debate the ramifications of that with your classmates and your instructor. Some of this seems obvious, but others aren’t as easy to determine as they seem. Your instructor will bring in new and different â€Å"twists and turns† as we go along. Read the dilemma, and then lets discuss. (The dilemma is found on the left tree, entitled The Lemon Tree Dilemma. ) 1. What is one aspect of Title VII that has been violated by the company? 2. Which actions by the two employees that call their credibility into question are you allowed, as an employer, to consider? Or, what types of actions are you not allowed to use and why? Are there any you wish you could use? Remember to support your answers to the questions above with a law or business reason. 1. Be sure to cover the different types of discrimination in this thread – all categories are possible areas for assessment on the Final Exam. 2. Next week, while the espionage case is under investigation, Paul opens hiring for Peter Puffs position and Mary opens hiring for Jackies position. Paul hires the first qualified white male who applies.

Literature Review About IPS And IDS Computer Science Essay

Literature Review About IPS And IDS Computer Science Essay In this chapter is to provide the study and review about Intrusion Detection System and Intrusion Prevention System which have done by expert and professor. According to (Tony Bradley, 2004), intrusion detection system (IDS) is to monitor traffic and monitor for suspicious activity. And it will give alerts to network administrator and the system. And IDS also will respond to malicious traffic by taking action to block the user or the IP address from accessing to the network. According to (Ameya Talwalkar, Symantec Manager of Intrusion Prevention Systems), Intrusion Prevention System (IPS) is a protection technology to provide security of the network. It is the front line to defence against malware, Trojans, Dos attacks, malicious code transmission, backdoor activity and blended threats. The next section will present the details of Intrusion Prevention System (IPS). Figure 1.1 is the flowchart of the key points in literature review about IPS and IDS. What is IPS What is IDS Literature review What is HIDS What is HIPS What is NIPS What is NIDS Identify Pros Cons Which are better to prevent threats Figure 1.1: Classifying the literature review 2.2 Intrusion Prevention System (IPS) There are some benefits have been justified Intrusion Prevention System as a breakthrough in the computer security. According to (Neil Desai, 2003), the main supporting idea on technical side of Intrusion Prevention System is inline network-based system. Besides that, there also have another variation of IPS which is called Layer 7 switches that have include detection and migration of Distributed Denial-if-Service attack (DDoS) and Denial-of-Service attack (DoS) based on awareness of the traffic. Every Intrusion Prevention System will generate alert based on policy or signature and they also will initiate a response which have been programmed into the system. These aleart will happen as a result for a signature match or violation of uniqueness. Secondly, according to (Benjamin Tomhave, 2004) there have a reports have identifies most of the Intrusion Detection System also have been include Intrusion Prevention System capabilities. It given a good defines set of signature or policies. So it makes sense for Intrusion Detection System work with Intrusion Prevention System capabilities. At the end, a successful deployment and the return on the investment will directly relate to how well to manage the solution and how well the network has been design. Thirdly, according to (Joel Esler, Andrew R.Baker, 2007) stated that Intrusion Prevention System are more in defence. It has been design to detect malicious packets inside the normal traffic and stop intrusions dead. And automatically block all the unwanted traffic before it bring any damage to the system rather than giving alert before or after the malicious packets have been delivered. Fourthly, Intrusion Prevention System has been added to existing firewall and antivirus solution. According to (Karen Scarfone, Peter Mell, 2007) Intrusion Prevention System is to monitor traffic and automatically drop the packets which has included malicious, scrutinizing suspicious sessions or taking other actions in immediate real time response to an attack. A good Intrusion Prevention device will check all inbound and outbound traffic. It can check on all types of packets and performs many type of detection analysis, which is a not only individual packet. It also needs to check on traffic pattern, view each of the transaction in the context of the packets come before and after. Lastly, Intrusion Prevention System product should take the advantages and implement some new detection technique and offer other type of intervention method. According to (Joel Esler, Andrew R.Baker, 2007) Intrusion Prevention System products should provide multiple modes of operation for user to choose, so they can become more confident in the product or change their network security policies. There are two types of ISP which are HIPS and NIPS. Host-based Intrusion Prevention (HIPS) is an application which monitors a single host for suspicious activity. Network-based Intrusion Prevention (NIPS) is to analyze protocol activity on the entire network. The next section will discusses about HIPS and NIPS. 2.2.1 Host-based Intrusion Prevention System (HIPS) According to (Dinesh Sequeira, 2002), Host-based Intrusion Prevention System is a software program install on individual system such as laptop, workstations or servers. When it detected an attack, the Host-based Intrusion Prevention System will block the attack at network interface level or tell the application or operating system to prevent the attack. Secondly, according to (NSS Group, 2004) Host-based Intrusion Prevention Systems relies on agents installed directly on the system being protected. Host-based Intrusion Detection Systems are binds closely with the operating system kernel and services, monitoring and intercepting system calls to the kernel or APIs in order to prevent attacks as well as records them. It may also monitor data streams and the environment specific to a particular application (file locations and Registry settings for a Web server) in order to protect these applications from generic attacks which signature has not yet exists in the database. Lastly, according to (Neil Desai, 2003) Host-based Intrusion Prevention Systems are used to protect both servers and workstations through software that runs between the systems applications and OS kernel. The software can be reconfigured to determine the protection rules based on intrusion and attack signatures. The Host-based Intrusion Prevention Systems will catch suspicious activity on the system and then, depending on the predefined rules, it will either block or allow the event to happen. At the next section, we will discuss about Network-based Intrusion Prevention (NIPS) and intrusion detection system (IDS). 2.2.2 Network-based Intrusion Prevention System (NIPS) Network Intrusion Prevention Systems (NIPS) are totally operating on a different concept which serves the purpose to build hardware or software platforms that are designed to analyze, detect, and report on security related events. Network Intrusion Prevention Systems are designed to inspect traffic and based on their configuration or security policy, they can drop malicious traffic as well as prevent the network from being contaminated with malicious data such as virus and worms. Network-based Intrusion Protection System able to detect malicious packets which are design to overlook by firewall filtering rules. Intrusion Prevent System is not a replacement for firewall but it is one part in the intelligent firewall. It is used to increase system specific or network wide security. The advantages of Network-based Intrusion Prevention System discussed as follows: NIPS reduce Constant Monitoring NIPS is an inline network device NIPS perform deep packet inspection NIPS as a tool to prevent attacks Tony Bradley, (2004), [Online] http://netsecurity.about.com/cs/hackertools/a/aa030504.htm [Accessed 5th March 2004] Jonathan Hassell, (2005), [Online] http://searchenterprisedesktop.techtarget.com/news/column/0,294698,sid192_gci1089830,00.html [Accessed 19th May 2005] Neil Desai, (2003), [Online] http://www.symantec.com/connect/articles/intrusion-prevention-systems-next-step-evolution-ids [Accessed 27th February 2003] Benjamin Tomhave, (2004), [Online] http://docs.google.com/viewer?a=vq=cache:ZlxT5m72JZwJ:falcon.secureconsulting.net/papers/218-Research-Paper-FINAL.pdf+Benjamin+Tomhave+2004+IPS+articlehl=engl=mypid=blsrcid=ADGEEShEwpU07d-WvGPhlP3rIASlIyrH0CbGBjGBseUptTNHYRFqaApljgqESo9QEftMQHf3CApOji91saq_gEj-ZlLMXx3aPBS6SckaoJrzVwPiZBwTQ6gcpoHaH0ER-l4_ygilLw9asig=AHIEtbS-NuLUg635h_DHoKW8qafXwRwJUw [Accessed 10th November 2004] Joel Esler, Andrew R.Baker, (2007), Snort IDS and IPS Toolkit, [Online] http://books.google.com.my/books?id=M9plZZxJB_UCpg=PR3dq=Snort+IDS+and+IPS+Toolkit:+IDS+and+IPS+toolkithl=enei=_yDETK7iDM34cYK6la4Fsa=Xoi=book_resultct=book-preview-linkresnum=2ved=0CDYQuwUwAQ#v=onepageq=Snort%20IDS%20and%20IPS%20Toolkit%3A%20IDS%20and%20IPS%20toolkitf=false [Accessed 1st February 2007) Karen Scarfone, Peter Mell, (2007), Guide to Intrusion Detection and Prevention Systems (IDPS) , [Online] http://csrc.nist.gov/publications/nistpubs/800-94/SP800-94.pdf [Accessed February 2007] NSS Group, (2004), Intrusion Prevention Systems (IPS), [Online] http://hosteddocs.ittoolbox.com/BW013004.pdf [Accessed January 2004] Dinesh Sequeira (2002), Intrusion Prevention System à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Securityà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Silver Bullet?, [Online] http://docs.google.com/viewer?a=vq=cache:OK14t-hsmQAJ:www.sans.org/reading_room/papers/%3Fid%3D366+Intrusion+Prevention+Systems:+Security%27s+Silver+Bullet%3Fhl=engl=mypid=blsrcid=ADGEEShhB2J1ArllgI1mGNhp91RCpNpSf0t7BGUQtWPwmISpe3xmaTI0ym-Bh0Thlq2Gmoq9K6vRKN7xBKphn_fwCgUFaPej_NetBAPccgZXY0wSVyFAlLzsNkMwZjqSdn4XEdxAybctsig=AHIEtbQqUFej4tL8ln14oplPfky7GGstMA [Accessed 2002]

Supplier Relationship Importance And Supply Chain Management

Supplier Relationship Importance And Supply Chain Management In todays increasing economic environment, organisations are looking for new techniques to improve their competitive advantage. The focus of my research is in the area of purchasing which have now become a strategic function and a key reason in positioning competitively among all other competitors. The paper discusses that in recent years, the relationships between buyers and suppliers have been continuously receiving a considerable attention for effective operations within organisations. Traditionally, supplier-buyer relationships were regarded as adversarial, arms length transactions. However, the approach towards managing this relationship is changing and moving towards a more collaborative approach due to the fact that now suppliers are important sources to gain competitive advantage to operate in global markets in terms of their expertise, knowledge and ability of sharing risks. [Research paper Journal] The research aims to provide an understanding of supplier relationship management, factors of supplier evaluation and selection process, and the elements that contribute to the establishment of a productive customer/vendor relationships. Such a study is important for buyers to build and maintain effective relationships with their suppliers for consistent cost reductions while working together to mutually create revenues and other benefits. The paper recommends that this information may work as a reference guideline for buyers when initiating cooperative relationships with their supply sources resulting in advanced purchasing and strategic supply chain management in their organisation. The research method adopted in this dissertation is secondary exploring various business journals, business websites, textbooks and articles. Due to continuous new product developments, product innovations and increase in costs, managing supplier relationships will further become crucial in the near future. Due to this reason, therefore, this paper discusses the requirement of supplier relationships and how this shift in organisational strategy towards building relations has and will going to change the employees role, companys processes and organisational goals. The findings from this research provides an evidence of how companies have improved their supply chain operations through understanding the importance to develop effective supplier relationships as part of their core business activity for not only to achieve success within procurement department but also to successfully complete other supply chain cycle such as maintaining production flow at all times, planning accurately, inventory handling, logistical issues and achieving financial benefits. Examples included findings from large organisations of Hong Kong, Rolls Royce, GE, and Japanese firm Toyota. The main conclusion that can be drawn from this research is that every organisation must emphasise the need to actually develop world class suppliers that helps in building long-term relationships, reduction in costs, improved QCDS (quality, cost, delivery and service) criteria, improved customer service, mutual information sharing, reducing the NPI (new product inspection) costs and becoming world class organisation in the market. Introduction Nowadays, the majority of Organisations believe that their companys real assets are embedded in the quality of the relationships shared between the business and their stakeholders such as clients or customers, employees and suppliers. Developing and managing supplier relationship will be the main subject throughout this project. The objective of this research is to investigate the importance of the need to focus more on building collaborative relationships with their strategic suppliers by large manufacturing companies. With increase in globalisation and restructuring of several organisations, procurements role has changed focusing more towards costs, quality, flexibility and technology. [Herbig and OHara, 1995; Goh and Lau, 1999] In the previous years (traditionally), purchasing was considered as a secretarial function in which the buyer-supplier relationships were viewed as being adversarial and unsurprisingly results in a win/lose outcome. Before, business operations from manufacturing to assembling the finished goods were prepared in-house but now many organisations have moved towards a more combined approach where manufacturing firms have started concentrating more on their core competencies only and rest outsourcing nationally and internationally to satisfy their customer expectations. Organisations are going lean i.e. working towards continuous improvement, adopting just-in time and total quality management and eliminating wastes. This highlighted the requirement for most of the lean organisations to grow cooperative supplier-buyer relationships to achieve real productivity, improved design and quality that are unattainable unless the supplying partners assist in product innovation. Hence, several manufacturers have recognized their ability to become world class competitors based on establishing high levels of trust and cooperation among their suppliers. [They and Briggs (1994)] For example, highlighting the case of Rolls Royce, the engine manufacturer, that outsources 70% of their material from external supply chain and thats the reason Rolls Royce try to encourage their suppliers to work openly and jointly contributing to their performance. Rolls Royce belief in building good supplier relationships assures quality and competitiveness to their product offerings and helps to achieve customer standards. The growing face of domestic and global competition has led to understand the manufacturing companies to practise global sourcing which is a strategy to improve companies competitiveness in the international market through reducing costs, improving quality, increased exposure to universal technology, and improving delivery and reliability. A connection or association is known as a relationship. Relationships are said to be when individuals, organisations and internal or external groups to an enterprise interact. At recent times, relationship marketing describes long-term marketing strategy that emphasise on building and maintaining long-term relationships with customers rather than just focusing on one-time sale approach. At business level, relationship marketing is applied to variety of purchasing supplier relationships in the context of a broader network of interconnected purchasing, supplier and competitor organisations. Supplier relationship is defined as a systematic approach to supplier evaluation, selection and ongoing relationship management with the goal of cutting the costs of goods and services boosting profits? Supplier relationship management is a proactive approach of an ongoing business links to secure a competitive advantage within the organisation, focusing more on overall relationships between the supplier and the customer (buying organisation) rather than focusing on specific contracts. The idea is to develop trust and understanding of each others requirements and interests while providing assistance to each other. For example, Rolls Royce sends their experts to their sub-contract suppliers to improve their technology and performance standards. Such relationships bring profit and provide competitive advantage. [http://www.ogc.gov.uk/process_supplier_performance_and_contract_management_6368.asp] Today, most of the companies have realised that doing business jointly with their strategic suppliers will enhance their organisational ability to respond quickly to demand changes, focus on core business only and hence, results in implementing best practises. For example, Rolls Royce believes their supplier make very essential contribution to their business performance as over 70% of their manufacturing costs comes from external supply sources. focus more on their core competencies such as encouraging suppliers to work with transparency, openly and together to enhance continuous improvements. rather than Small to Medium size Enterprises and many local businesses use Transactional Purchasing whereas Large Enterprises use Relationship Purchasing to compete strongly in this economic climate. Transactional Purchasing Relationship purchasing Focus on short, discrete purchasing Focus on supplier retention Short-term orientation Long-term orientation Arms length Closeness Simple buyer-seller relationship Complicated, including internal relationships Emphasis on price, quality and delivery in the offered product No Innovation Emphasis on price, quality, delivery other factors, like innovative design as a collaborative exercise b/w purchaser and supplier Moderate supplier contacts High level of supplier contact with each contact being used to gain information strengthen the relationship Little sharing of information Significant sharing of information, including cost information and transparency Introducing Supply chain management The project is focused on process for choosing world class suppliers, importance of building supplier relationships, various supplier development approaches and process of negotiation required in purchasing that plays a vital role in todays supply chain management. Explaining what is supply chain management and its various elements that are necessary for the movement of goods and services within the business. Supply chain management consists of the intra and inter-organisational co-ordination of business functions that act as both transformative and support functions. This emphasises managing supply chain effectively must be a key activity within the businesses. [Mentzer et al. (2001)] Supply chain combines flow of materials, goods, and information (includes money) that floats within and between organisations linking with a variety of tangible and intangible facilitators, e.g. relationships, processes, activities and integrated information systems. Different views of supply chains are implemented in terms of a process when operations are emphasised, a logistical channel when emphasises marketing, a value chain whey looking at value added activities, and a demand chain when considering customer satisfaction. [Peck H. (2006)] Key elements of supply chain The key elements of supply chain are that links with each other by the movement of products. The following explains that supply chain starts and ends with the customer: [http://logistics.about.com/od/supplychainintroduction/a/into_scm.htm] Customer This is the customer that starts the value chain by deciding to make a purchase of a particular product for example, in an aviation industry procuring turbine blades or a fan shaft which is offered for sale by an organisation. At this stage, the customer contacts the sales team and places purchase order with a right quantity and delivered on a right date. If in case, this product needs manufacturing then the purchase order includes a requirement that must be fulfilling by the production facility. Planning The requirement for planning occurs when customers purchase order is received and processed with other existing orders. Production plans are created by the planning department to generate products to accomplish the customers order. If manufacturing requires, then raw materials are purchased to complete the process. Purchasing The list of materials e.g. raw materials and services is obtained which is required by the production department to complete the purchase order. Then purchasing team issues purchase orders to procure raw material from selected suppliers on their manufacturing site on a requisite date. Inventory The raw materials that are received from suppliers are checked for quality and moved into the warehouse. The invoice is received for the parts that are delivered by the supplier and then materials are stored until there is a demand from a production area. Production According to the production plan, the raw materials from the inventory are moved into the production area where product manufacturing takes place and creates the finished product. Once the parts are completed, they are again sent back to the warehouse and stored prior to delivery to the ultimate customer. Transportation Logistics department then finds the most efficient shipping method in order to achieve on-time delivery at the right date mentioned by the customer. After goods are received by the customer, an invoice is sent by the organisation (supplier) for delivered products. Outlining Case study: GE-Aviation In this project, there will be discussion on relationship purchasing within aviation industry considering GE Aviation as a case study. Suggesting methods of procurement and ways of maintaining GEs existing and new relationships with suppliers. On-line procurement is one of the major processes that I will be focusing in my project which GE adopts within their business that not only reduces the cost and saves time but also provides the right amount of communication with its suppliers at the right time. For example, GE-Aviation has its own department for RB211 jumbo jet engine where there are teams responsible for engineering, operations, purchasing and billing. The engine gets repaired and maintained on site. For RB211 engine type, GEs biggest supplier is Rolls Royce who is the OEMs and can provide material many times. Using SAP software within the whole organisation saves a huge amount of time for purchasing transactions and also makes easy for GE purchasing team to analyse demand raised and provide forecasting to their suppliers for each product by just looking into the system and working through its historical past. GE uses Relationship Purchasing in which they believe to maximise their revenue it is very important to have good supplier relationships. Some of the key approaches/strategies required before working towards building relationships are as follows: Selecting a world class supplier Companies that outsources internationally their materials opens the opportunity to identify potential suppliers, evaluate and reasonably short list them that result with the best supplier. This is considered as one of the most important process to perform by the procurement team that aims to choose the best supplier that ensures reliable supplies with low risk involved and maximises the overall value to the buyer. The following are the seven key steps involved in supplier evaluation and selection process: (Fig 7.5 Supplier evaluation and selection process [pg 163]) Recognise the need for supplier selection The first step is to recognise the actual need for selection of supplier. Purchasing team must work with new product development department in order to recognise future buying behaviours. Purchasing groups proactively select suppliers and anticipate demands rather than wait until a demand rises. The process to start this evaluation arises due to the following scenarios: Through new product development Poor performance received from existing internal and external suppliers Closure of the contract Procuring new tools and equipments Thinking to expand business into new markets or products Due to inadequate capacity of existing suppliers Throughout outsourcing and re-engineering analyses Deciding to reduce the size of the supply base Identifying the main sourcing requirements All the way through evaluation process, procurement team must keep an eye on what they are intended to do. Acquiring materials is not just important but also focus to meet specific requirements set by the other internal customer and indirectly by other supply chain members. For example, an aviation company like GE that makes engines has to buy all the machinery and spare parts along with buyers taking care to ensure a perfect quality products are delivered on time. Establishing sourcing strategy Developing purchasing strategies results in long term alliances that buyers look each time to compete in todays growing competition. Several vital strategic decisions that affect the selection of suppliers are: Picking single or multiple suppliers Creating short-term or long-term contracts Suppliers wish to develop working partnerships rather than arms length relations Working with suppliers that can provide support with product designs rather than those who cannot modify designs Having choice of local, domestic, foreign or global suppliers Therefore, sourcing strategies and policies must be carefully re-evaluated during supplier selection as requirements changes frequently in shorter times because of changing market conditions, changing consumer preferences and accustomed corporate goals. Identifying potential suppliers This stage identifies a list of suppliers that can actually have the capability to deliver of what is required by the customer. Buyers can use various numbers of sources to develop the preliminary list of supply sources by a quick search of company websites as well as long and detailed search for companies that can support with design and make specialised products. A rule of thumb must take place to determine the effort to be used into supplier selection by comparing the existing suppliers efficiency and strategic importance of an item because too much effort and expensive resources are wasted; too little effort and potential suppliers might be missed in this initial search criteria. Following are the sources of information widely-used to identify potential suppliers: Current suppliers Using existing suppliers who are already on the preferred list which are consistently meeting buyers requirements that reduces the purchasers time and effort in evaluation of supplier capabilities. But at the same time, existing supplier may not always provide the world class long term results and that is the reason why organisations scan information continuously to recognize potential new sources. Sales representatives and agents Marketing information received from these individuals can become a valuable source of information for new product offerings. Buyers keep this information in their file for future reference even if there is no urgent requirement for a supplier service. Internet searches Nowadays suppliers launch customer websites as part of their marketing approach and help the buyers with detailed information from a simple search of possible suppliers. Various other websites can also help in discovering and assessing important information like reviews, comparisons, comments, analyses and case studies of potential suppliers. Experience Experienced individuals working within purchasing team generally carries a wide knowledge about various capable suppliers as experienced buyers have already worked in a particular industry for many years and familiar with the main suppliers and their features. Internal sources Operating different business units within large organisations, each may have their own procurement department. Therefore, other units in the same organisation becomes a valuable source of information exchange to buyers through informal meetings, formal team sessions, an internal database, purchasing newsletters, etc. Limit suppliers in the selection pool At this stage, the procurement team must consolidate and analyse the information gathered on potential supply sources that helps them to make informed decisions. Getting a long list of suppliers is just the initial task but buyers then have to eliminate the weakest suppliers until they attain the strong shortlist. Therefore, the final supplier is then selected from this list. The following are the entry qualifiers features that influence buyers final decision [Howard (1998)]: Financial strength Appropriate business strategy Strong supportive management Proven manufacturing capability Design capability There are also many reasons that influence buyers decision to procure material on the following basis: Buying directly from the original manufacturer or distributor Original equipment manufacturers mostly offer lower prices that avoid the costs of wholesalers and retailers along with profit margins. The final choice must be considered on the basis of four factors including the size of the purchase, the manufacturers policies of direct sales, availability of storage at buyers facility, and the required additional services. Local, national, international and global suppliers Choosing international suppliers are more favourable as they usually offers the best price along with technical support but these have to be balanced by higher shipping costs, stocks, communication problems and common risks involved. Also, choosing local suppliers are considered more responsive to fluctuating demands, small deliveries and regular changes in purchase orders using Just-in-time method that not only supports local suppliers and allows the buyers to enhance local economy but also helps in building community goodwill. Large or small suppliers Usually buyers focus on suppliers capability to do the work rather than selecting on the basis of its size. But a buyer must keep in mind the unexpected increase in demands that can only be dealt by larger firms providing extra capacity to overcome these fluctuations. At the same time, in order to create a diversified supply base, buyers intentionally deal with smaller suppliers. Multiple or single sourcing When there are numerous different suppliers available then it becomes very difficult to make a decision of how many to use? Most of the organisations have chosen a trend to reduce the supply base that will benefit them accordingly. Determining method to select supplier This is the last stage where buyers are left with four to five suppliers in their shortlist and decide to evaluate these remaining organisations by looking at the alternatives in more detail for example, using supplier-provided information, supplier/customer visits, preferred list of suppliers and third-party information. Supplier-provided information Detailed information can be acquired through requesting price quotations. Information received from quotations are then used to understand the product description and supply which is then followed by another requests of a detailed cost breakdown of the price quoted by suppliers initially that must include the costs of labour, materials, overheads and profit as buyers also require operational details to finally evaluate them. Supplier visits One of the most efficient ways of getting an overall view of suppliers capabilities and performance is to visit suppliers facilities by a cross-functional team. Generally, these visits are expensive and time consuming so a buyer must balance their desire to gather as much information as possible confidentially. The following table shows important information points that a buyer must collect during its visit: Management capability Quality management Technology levels Planning and scheduling effectiveness Financial strength Personnel relations E-business capabilities Sophistication and efficiency of operations ISO certifications Skills, knowledge and experience of workforce Evidence of good management and housekeeping Types of inventory Nature of the goods inwards, stores and outwards areas Environmental practices Employee employment contracts Any significant changes planned or expected Contact details of key decision makers Use of preferred suppliers This is a list of suppliers created by the purchasers to reward their best suppliers that consistently meets their strict performance criteria. The list can also be used as an incentive to improve the existing suppliers performance and assessed accordingly. External or third-party information This consists of all the other information available about a potential supplier. For example, Total quality management is a system that insists suppliers to meet the quality standards as similar to buyers and generates a flow of related information throughout the supply chain. Selecting supplier and signing agreement This is the final step to choose the supplier followed by signing a contract. This includes different purchasing orders required for routine and major items, i.e. using standard purchase orders for routine items whereas, detailed negotiation is required to agree on specific details for major items that increases the complexity in the purchase order. Supplier evaluation criteria After considering various steps in selecting suppliers, the buying organisation must analyse the following questions with the supply organisation in order to progress outside their traditional purchasing relationships and possibilities for long term relationships with them: [Spekman (1988)] Has the supplier signified a dedication or willingness for a longer term relationship? Is the supplier enthusiastic to perform resources to develop this relationship? Is the supplier willing or able to participate at the early stage or throughout the stage of product design? Has supplier brought any unique service to the business? Is the supplier showed their interests or commitment towards customers problems and effectively solving them together? Is the supplier is interested in improvements and innovations in the operations? Is there any openness of sharing and exchanging information between both companies? How much knowledgeable is the supplier about the customers industry and business? Is the need for confidentially exchanged information taken seriously? Supplier management and development In todays time, the need to improve supplier performance is open in large or small organisations and for this reason; the purchasing teams must introduce a supplier relationship management (SRM) approach to achieve their organisational goals and success in global purchases of technology. Therefore, this calls for managing resources efficiently throughout supply chain collaborations, dedication required from supply managers, creating standardised best practices effectively and tools required for tracking and evaluating the results. The process must begin with effective supplier performance measures required to undertake strategic supply or procurement decisions for the organisation. [Minahan T. And Vigorose M. (2002)] Effective supplier performance measurements What to measure The factors important to assess the performance includes: Delivery performance The purchase orders that are sent to suppliers involves all the appropriate information on deliveries, with quantities, lead times and due dates. Therefore, it is buyers responsibility to check regularly that how well a supplier actually meets their expected conditions. Cost performance There are many ways that can measure cost performances for example, monitoring real price delivered by the supplier after adjusting increase in the prices (inflation). Quality performance In order to measure quality, the best criteria for buyers is to check that products are delivered in 100% perfect condition with no defects. This also includes comparing previous performances, latest performance with mutually agreed standards and various other figures. Other qualitative factors in supplier performance Factor Explanation Problem solving Suppliers attention to provide solutions to the problem Technical skills Comparing suppliers manufacturing capacity with other business suppliers Reporting progress Suppliers incomplete reporting of existing problems and identifying and communicating other potential problems Corrective action Suppliers timely response to requests for corrective actions and requests for changes Cost-reduction plans Suppliers enthusiasm to find techniques that helps to reduce the total purchase cost New-product development support Suppliers capability to reduce time and cost required for new product development Buyer/seller compatibility Rating subjectively how well a purchasing firm and a supplier work together Therefore, the above are various other factors that help the buyers to measure the suppliers technical ability and closeness of both parties relationships. Reporting frequency This includes preparing reports to provide a clear feedback to supplier on their performance. Purchasing management must communicate with their buyers to send these reports by reviewing them weekly, monthly, quarterly or annually which is then followed with more face-to-face team meeting that reviews their actual performance, discussion on targets, identify potential improvements, examine changes, and so on. Any problems (for example, supplier fails to meet the required standard) occurred during crucial time must be addressed with special reports and meetings to avoid any financial and operational problems. Use of measurement data Procurement staff can make use of data collected from its measurement systems in many ways including: Identifying suppliers which are not meeting the performance goals and highlighting areas that calls for improvements, followed by corrective actions taken to raise the performance to acceptable levels or else finding new suppliers. It helps in discovering excellent performances achieved from supplier which then helps identify preferred suppliers that qualify for long term alliances. It also recognises the worst performing suppliers that are continuously not improving and needs to be removed from supply base whereas offering more work to superior suppliers. Supplier measurement techniques There are three techniques discussed for evaluating performance of suppliers, each differs in their use, level of subjectivity, resources required and implementing cost. Categorical techniques These techniques considers a particular aspect of performance, for example lead time and classifies a set of categories for performance rating as excellent, good, fair or poor and therefore, helps buyers in deciding which supplier is good or bad. This is an easiest system of measurement, easy to use, comparatively inexpensive and also the most subjective. There are some drawbacks of using this technique as they do not provide a clear analysis of performance, slower than automated systems and regarded as the lowest of the three techniques in terms of reliability. Scoring model This method overcomes the subjectivity of categorical technique by calculating a weighted score for different performance categories. This is more reliable and requires reasonable implementation cost providing flexibility for buyers to change the categories included as well as weights allocated to each. Cost-based techniques -This technique is the most comprehensive that can help the buying organisation to look for the total cost required for doing business with a particular supplier by identifying the lowest purchase price is not always the lowest cost of acquisition. Hence, this technique works through collecting data from the purchasing firms information system, analysing the total cost including the additional occurring costs whenever a supplier fails to perform as per expected by the buyer. This can be calculated using formula of supplier performance index (SPI) SPI = Total pur Supplier Relationship Importance And Supply Chain Management Supplier Relationship Importance And Supply Chain Management In todays increasing economic environment, organisations are looking for new techniques to improve their competitive advantage. The focus of my research is in the area of purchasing which have now become a strategic function and a key reason in positioning competitively among all other competitors. The paper discusses that in recent years, the relationships between buyers and suppliers have been continuously receiving a considerable attention for effective operations within organisations. Traditionally, supplier-buyer relationships were regarded as adversarial, arms length transactions. However, the approach towards managing this relationship is changing and moving towards a more collaborative approach due to the fact that now suppliers are important sources to gain competitive advantage to operate in global markets in terms of their expertise, knowledge and ability of sharing risks. [Research paper Journal] The research aims to provide an understanding of supplier relationship management, factors of supplier evaluation and selection process, and the elements that contribute to the establishment of a productive customer/vendor relationships. Such a study is important for buyers to build and maintain effective relationships with their suppliers for consistent cost reductions while working together to mutually create revenues and other benefits. The paper recommends that this information may work as a reference guideline for buyers when initiating cooperative relationships with their supply sources resulting in advanced purchasing and strategic supply chain management in their organisation. The research method adopted in this dissertation is secondary exploring various business journals, business websites, textbooks and articles. Due to continuous new product developments, product innovations and increase in costs, managing supplier relationships will further become crucial in the near future. Due to this reason, therefore, this paper discusses the requirement of supplier relationships and how this shift in organisational strategy towards building relations has and will going to change the employees role, companys processes and organisational goals. The findings from this research provides an evidence of how companies have improved their supply chain operations through understanding the importance to develop effective supplier relationships as part of their core business activity for not only to achieve success within procurement department but also to successfully complete other supply chain cycle such as maintaining production flow at all times, planning accurately, inventory handling, logistical issues and achieving financial benefits. Examples included findings from large organisations of Hong Kong, Rolls Royce, GE, and Japanese firm Toyota. The main conclusion that can be drawn from this research is that every organisation must emphasise the need to actually develop world class suppliers that helps in building long-term relationships, reduction in costs, improved QCDS (quality, cost, delivery and service) criteria, improved customer service, mutual information sharing, reducing the NPI (new product inspection) costs and becoming world class organisation in the market. Introduction Nowadays, the majority of Organisations believe that their companys real assets are embedded in the quality of the relationships shared between the business and their stakeholders such as clients or customers, employees and suppliers. Developing and managing supplier relationship will be the main subject throughout this project. The objective of this research is to investigate the importance of the need to focus more on building collaborative relationships with their strategic suppliers by large manufacturing companies. With increase in globalisation and restructuring of several organisations, procurements role has changed focusing more towards costs, quality, flexibility and technology. [Herbig and OHara, 1995; Goh and Lau, 1999] In the previous years (traditionally), purchasing was considered as a secretarial function in which the buyer-supplier relationships were viewed as being adversarial and unsurprisingly results in a win/lose outcome. Before, business operations from manufacturing to assembling the finished goods were prepared in-house but now many organisations have moved towards a more combined approach where manufacturing firms have started concentrating more on their core competencies only and rest outsourcing nationally and internationally to satisfy their customer expectations. Organisations are going lean i.e. working towards continuous improvement, adopting just-in time and total quality management and eliminating wastes. This highlighted the requirement for most of the lean organisations to grow cooperative supplier-buyer relationships to achieve real productivity, improved design and quality that are unattainable unless the supplying partners assist in product innovation. Hence, several manufacturers have recognized their ability to become world class competitors based on establishing high levels of trust and cooperation among their suppliers. [They and Briggs (1994)] For example, highlighting the case of Rolls Royce, the engine manufacturer, that outsources 70% of their material from external supply chain and thats the reason Rolls Royce try to encourage their suppliers to work openly and jointly contributing to their performance. Rolls Royce belief in building good supplier relationships assures quality and competitiveness to their product offerings and helps to achieve customer standards. The growing face of domestic and global competition has led to understand the manufacturing companies to practise global sourcing which is a strategy to improve companies competitiveness in the international market through reducing costs, improving quality, increased exposure to universal technology, and improving delivery and reliability. A connection or association is known as a relationship. Relationships are said to be when individuals, organisations and internal or external groups to an enterprise interact. At recent times, relationship marketing describes long-term marketing strategy that emphasise on building and maintaining long-term relationships with customers rather than just focusing on one-time sale approach. At business level, relationship marketing is applied to variety of purchasing supplier relationships in the context of a broader network of interconnected purchasing, supplier and competitor organisations. Supplier relationship is defined as a systematic approach to supplier evaluation, selection and ongoing relationship management with the goal of cutting the costs of goods and services boosting profits? Supplier relationship management is a proactive approach of an ongoing business links to secure a competitive advantage within the organisation, focusing more on overall relationships between the supplier and the customer (buying organisation) rather than focusing on specific contracts. The idea is to develop trust and understanding of each others requirements and interests while providing assistance to each other. For example, Rolls Royce sends their experts to their sub-contract suppliers to improve their technology and performance standards. Such relationships bring profit and provide competitive advantage. [http://www.ogc.gov.uk/process_supplier_performance_and_contract_management_6368.asp] Today, most of the companies have realised that doing business jointly with their strategic suppliers will enhance their organisational ability to respond quickly to demand changes, focus on core business only and hence, results in implementing best practises. For example, Rolls Royce believes their supplier make very essential contribution to their business performance as over 70% of their manufacturing costs comes from external supply sources. focus more on their core competencies such as encouraging suppliers to work with transparency, openly and together to enhance continuous improvements. rather than Small to Medium size Enterprises and many local businesses use Transactional Purchasing whereas Large Enterprises use Relationship Purchasing to compete strongly in this economic climate. Transactional Purchasing Relationship purchasing Focus on short, discrete purchasing Focus on supplier retention Short-term orientation Long-term orientation Arms length Closeness Simple buyer-seller relationship Complicated, including internal relationships Emphasis on price, quality and delivery in the offered product No Innovation Emphasis on price, quality, delivery other factors, like innovative design as a collaborative exercise b/w purchaser and supplier Moderate supplier contacts High level of supplier contact with each contact being used to gain information strengthen the relationship Little sharing of information Significant sharing of information, including cost information and transparency Introducing Supply chain management The project is focused on process for choosing world class suppliers, importance of building supplier relationships, various supplier development approaches and process of negotiation required in purchasing that plays a vital role in todays supply chain management. Explaining what is supply chain management and its various elements that are necessary for the movement of goods and services within the business. Supply chain management consists of the intra and inter-organisational co-ordination of business functions that act as both transformative and support functions. This emphasises managing supply chain effectively must be a key activity within the businesses. [Mentzer et al. (2001)] Supply chain combines flow of materials, goods, and information (includes money) that floats within and between organisations linking with a variety of tangible and intangible facilitators, e.g. relationships, processes, activities and integrated information systems. Different views of supply chains are implemented in terms of a process when operations are emphasised, a logistical channel when emphasises marketing, a value chain whey looking at value added activities, and a demand chain when considering customer satisfaction. [Peck H. (2006)] Key elements of supply chain The key elements of supply chain are that links with each other by the movement of products. The following explains that supply chain starts and ends with the customer: [http://logistics.about.com/od/supplychainintroduction/a/into_scm.htm] Customer This is the customer that starts the value chain by deciding to make a purchase of a particular product for example, in an aviation industry procuring turbine blades or a fan shaft which is offered for sale by an organisation. At this stage, the customer contacts the sales team and places purchase order with a right quantity and delivered on a right date. If in case, this product needs manufacturing then the purchase order includes a requirement that must be fulfilling by the production facility. Planning The requirement for planning occurs when customers purchase order is received and processed with other existing orders. Production plans are created by the planning department to generate products to accomplish the customers order. If manufacturing requires, then raw materials are purchased to complete the process. Purchasing The list of materials e.g. raw materials and services is obtained which is required by the production department to complete the purchase order. Then purchasing team issues purchase orders to procure raw material from selected suppliers on their manufacturing site on a requisite date. Inventory The raw materials that are received from suppliers are checked for quality and moved into the warehouse. The invoice is received for the parts that are delivered by the supplier and then materials are stored until there is a demand from a production area. Production According to the production plan, the raw materials from the inventory are moved into the production area where product manufacturing takes place and creates the finished product. Once the parts are completed, they are again sent back to the warehouse and stored prior to delivery to the ultimate customer. Transportation Logistics department then finds the most efficient shipping method in order to achieve on-time delivery at the right date mentioned by the customer. After goods are received by the customer, an invoice is sent by the organisation (supplier) for delivered products. Outlining Case study: GE-Aviation In this project, there will be discussion on relationship purchasing within aviation industry considering GE Aviation as a case study. Suggesting methods of procurement and ways of maintaining GEs existing and new relationships with suppliers. On-line procurement is one of the major processes that I will be focusing in my project which GE adopts within their business that not only reduces the cost and saves time but also provides the right amount of communication with its suppliers at the right time. For example, GE-Aviation has its own department for RB211 jumbo jet engine where there are teams responsible for engineering, operations, purchasing and billing. The engine gets repaired and maintained on site. For RB211 engine type, GEs biggest supplier is Rolls Royce who is the OEMs and can provide material many times. Using SAP software within the whole organisation saves a huge amount of time for purchasing transactions and also makes easy for GE purchasing team to analyse demand raised and provide forecasting to their suppliers for each product by just looking into the system and working through its historical past. GE uses Relationship Purchasing in which they believe to maximise their revenue it is very important to have good supplier relationships. Some of the key approaches/strategies required before working towards building relationships are as follows: Selecting a world class supplier Companies that outsources internationally their materials opens the opportunity to identify potential suppliers, evaluate and reasonably short list them that result with the best supplier. This is considered as one of the most important process to perform by the procurement team that aims to choose the best supplier that ensures reliable supplies with low risk involved and maximises the overall value to the buyer. The following are the seven key steps involved in supplier evaluation and selection process: (Fig 7.5 Supplier evaluation and selection process [pg 163]) Recognise the need for supplier selection The first step is to recognise the actual need for selection of supplier. Purchasing team must work with new product development department in order to recognise future buying behaviours. Purchasing groups proactively select suppliers and anticipate demands rather than wait until a demand rises. The process to start this evaluation arises due to the following scenarios: Through new product development Poor performance received from existing internal and external suppliers Closure of the contract Procuring new tools and equipments Thinking to expand business into new markets or products Due to inadequate capacity of existing suppliers Throughout outsourcing and re-engineering analyses Deciding to reduce the size of the supply base Identifying the main sourcing requirements All the way through evaluation process, procurement team must keep an eye on what they are intended to do. Acquiring materials is not just important but also focus to meet specific requirements set by the other internal customer and indirectly by other supply chain members. For example, an aviation company like GE that makes engines has to buy all the machinery and spare parts along with buyers taking care to ensure a perfect quality products are delivered on time. Establishing sourcing strategy Developing purchasing strategies results in long term alliances that buyers look each time to compete in todays growing competition. Several vital strategic decisions that affect the selection of suppliers are: Picking single or multiple suppliers Creating short-term or long-term contracts Suppliers wish to develop working partnerships rather than arms length relations Working with suppliers that can provide support with product designs rather than those who cannot modify designs Having choice of local, domestic, foreign or global suppliers Therefore, sourcing strategies and policies must be carefully re-evaluated during supplier selection as requirements changes frequently in shorter times because of changing market conditions, changing consumer preferences and accustomed corporate goals. Identifying potential suppliers This stage identifies a list of suppliers that can actually have the capability to deliver of what is required by the customer. Buyers can use various numbers of sources to develop the preliminary list of supply sources by a quick search of company websites as well as long and detailed search for companies that can support with design and make specialised products. A rule of thumb must take place to determine the effort to be used into supplier selection by comparing the existing suppliers efficiency and strategic importance of an item because too much effort and expensive resources are wasted; too little effort and potential suppliers might be missed in this initial search criteria. Following are the sources of information widely-used to identify potential suppliers: Current suppliers Using existing suppliers who are already on the preferred list which are consistently meeting buyers requirements that reduces the purchasers time and effort in evaluation of supplier capabilities. But at the same time, existing supplier may not always provide the world class long term results and that is the reason why organisations scan information continuously to recognize potential new sources. Sales representatives and agents Marketing information received from these individuals can become a valuable source of information for new product offerings. Buyers keep this information in their file for future reference even if there is no urgent requirement for a supplier service. Internet searches Nowadays suppliers launch customer websites as part of their marketing approach and help the buyers with detailed information from a simple search of possible suppliers. Various other websites can also help in discovering and assessing important information like reviews, comparisons, comments, analyses and case studies of potential suppliers. Experience Experienced individuals working within purchasing team generally carries a wide knowledge about various capable suppliers as experienced buyers have already worked in a particular industry for many years and familiar with the main suppliers and their features. Internal sources Operating different business units within large organisations, each may have their own procurement department. Therefore, other units in the same organisation becomes a valuable source of information exchange to buyers through informal meetings, formal team sessions, an internal database, purchasing newsletters, etc. Limit suppliers in the selection pool At this stage, the procurement team must consolidate and analyse the information gathered on potential supply sources that helps them to make informed decisions. Getting a long list of suppliers is just the initial task but buyers then have to eliminate the weakest suppliers until they attain the strong shortlist. Therefore, the final supplier is then selected from this list. The following are the entry qualifiers features that influence buyers final decision [Howard (1998)]: Financial strength Appropriate business strategy Strong supportive management Proven manufacturing capability Design capability There are also many reasons that influence buyers decision to procure material on the following basis: Buying directly from the original manufacturer or distributor Original equipment manufacturers mostly offer lower prices that avoid the costs of wholesalers and retailers along with profit margins. The final choice must be considered on the basis of four factors including the size of the purchase, the manufacturers policies of direct sales, availability of storage at buyers facility, and the required additional services. Local, national, international and global suppliers Choosing international suppliers are more favourable as they usually offers the best price along with technical support but these have to be balanced by higher shipping costs, stocks, communication problems and common risks involved. Also, choosing local suppliers are considered more responsive to fluctuating demands, small deliveries and regular changes in purchase orders using Just-in-time method that not only supports local suppliers and allows the buyers to enhance local economy but also helps in building community goodwill. Large or small suppliers Usually buyers focus on suppliers capability to do the work rather than selecting on the basis of its size. But a buyer must keep in mind the unexpected increase in demands that can only be dealt by larger firms providing extra capacity to overcome these fluctuations. At the same time, in order to create a diversified supply base, buyers intentionally deal with smaller suppliers. Multiple or single sourcing When there are numerous different suppliers available then it becomes very difficult to make a decision of how many to use? Most of the organisations have chosen a trend to reduce the supply base that will benefit them accordingly. Determining method to select supplier This is the last stage where buyers are left with four to five suppliers in their shortlist and decide to evaluate these remaining organisations by looking at the alternatives in more detail for example, using supplier-provided information, supplier/customer visits, preferred list of suppliers and third-party information. Supplier-provided information Detailed information can be acquired through requesting price quotations. Information received from quotations are then used to understand the product description and supply which is then followed by another requests of a detailed cost breakdown of the price quoted by suppliers initially that must include the costs of labour, materials, overheads and profit as buyers also require operational details to finally evaluate them. Supplier visits One of the most efficient ways of getting an overall view of suppliers capabilities and performance is to visit suppliers facilities by a cross-functional team. Generally, these visits are expensive and time consuming so a buyer must balance their desire to gather as much information as possible confidentially. The following table shows important information points that a buyer must collect during its visit: Management capability Quality management Technology levels Planning and scheduling effectiveness Financial strength Personnel relations E-business capabilities Sophistication and efficiency of operations ISO certifications Skills, knowledge and experience of workforce Evidence of good management and housekeeping Types of inventory Nature of the goods inwards, stores and outwards areas Environmental practices Employee employment contracts Any significant changes planned or expected Contact details of key decision makers Use of preferred suppliers This is a list of suppliers created by the purchasers to reward their best suppliers that consistently meets their strict performance criteria. The list can also be used as an incentive to improve the existing suppliers performance and assessed accordingly. External or third-party information This consists of all the other information available about a potential supplier. For example, Total quality management is a system that insists suppliers to meet the quality standards as similar to buyers and generates a flow of related information throughout the supply chain. Selecting supplier and signing agreement This is the final step to choose the supplier followed by signing a contract. This includes different purchasing orders required for routine and major items, i.e. using standard purchase orders for routine items whereas, detailed negotiation is required to agree on specific details for major items that increases the complexity in the purchase order. Supplier evaluation criteria After considering various steps in selecting suppliers, the buying organisation must analyse the following questions with the supply organisation in order to progress outside their traditional purchasing relationships and possibilities for long term relationships with them: [Spekman (1988)] Has the supplier signified a dedication or willingness for a longer term relationship? Is the supplier enthusiastic to perform resources to develop this relationship? Is the supplier willing or able to participate at the early stage or throughout the stage of product design? Has supplier brought any unique service to the business? Is the supplier showed their interests or commitment towards customers problems and effectively solving them together? Is the supplier is interested in improvements and innovations in the operations? Is there any openness of sharing and exchanging information between both companies? How much knowledgeable is the supplier about the customers industry and business? Is the need for confidentially exchanged information taken seriously? Supplier management and development In todays time, the need to improve supplier performance is open in large or small organisations and for this reason; the purchasing teams must introduce a supplier relationship management (SRM) approach to achieve their organisational goals and success in global purchases of technology. Therefore, this calls for managing resources efficiently throughout supply chain collaborations, dedication required from supply managers, creating standardised best practices effectively and tools required for tracking and evaluating the results. The process must begin with effective supplier performance measures required to undertake strategic supply or procurement decisions for the organisation. [Minahan T. And Vigorose M. (2002)] Effective supplier performance measurements What to measure The factors important to assess the performance includes: Delivery performance The purchase orders that are sent to suppliers involves all the appropriate information on deliveries, with quantities, lead times and due dates. Therefore, it is buyers responsibility to check regularly that how well a supplier actually meets their expected conditions. Cost performance There are many ways that can measure cost performances for example, monitoring real price delivered by the supplier after adjusting increase in the prices (inflation). Quality performance In order to measure quality, the best criteria for buyers is to check that products are delivered in 100% perfect condition with no defects. This also includes comparing previous performances, latest performance with mutually agreed standards and various other figures. Other qualitative factors in supplier performance Factor Explanation Problem solving Suppliers attention to provide solutions to the problem Technical skills Comparing suppliers manufacturing capacity with other business suppliers Reporting progress Suppliers incomplete reporting of existing problems and identifying and communicating other potential problems Corrective action Suppliers timely response to requests for corrective actions and requests for changes Cost-reduction plans Suppliers enthusiasm to find techniques that helps to reduce the total purchase cost New-product development support Suppliers capability to reduce time and cost required for new product development Buyer/seller compatibility Rating subjectively how well a purchasing firm and a supplier work together Therefore, the above are various other factors that help the buyers to measure the suppliers technical ability and closeness of both parties relationships. Reporting frequency This includes preparing reports to provide a clear feedback to supplier on their performance. Purchasing management must communicate with their buyers to send these reports by reviewing them weekly, monthly, quarterly or annually which is then followed with more face-to-face team meeting that reviews their actual performance, discussion on targets, identify potential improvements, examine changes, and so on. Any problems (for example, supplier fails to meet the required standard) occurred during crucial time must be addressed with special reports and meetings to avoid any financial and operational problems. Use of measurement data Procurement staff can make use of data collected from its measurement systems in many ways including: Identifying suppliers which are not meeting the performance goals and highlighting areas that calls for improvements, followed by corrective actions taken to raise the performance to acceptable levels or else finding new suppliers. It helps in discovering excellent performances achieved from supplier which then helps identify preferred suppliers that qualify for long term alliances. It also recognises the worst performing suppliers that are continuously not improving and needs to be removed from supply base whereas offering more work to superior suppliers. Supplier measurement techniques There are three techniques discussed for evaluating performance of suppliers, each differs in their use, level of subjectivity, resources required and implementing cost. Categorical techniques These techniques considers a particular aspect of performance, for example lead time and classifies a set of categories for performance rating as excellent, good, fair or poor and therefore, helps buyers in deciding which supplier is good or bad. This is an easiest system of measurement, easy to use, comparatively inexpensive and also the most subjective. There are some drawbacks of using this technique as they do not provide a clear analysis of performance, slower than automated systems and regarded as the lowest of the three techniques in terms of reliability. Scoring model This method overcomes the subjectivity of categorical technique by calculating a weighted score for different performance categories. This is more reliable and requires reasonable implementation cost providing flexibility for buyers to change the categories included as well as weights allocated to each. Cost-based techniques -This technique is the most comprehensive that can help the buying organisation to look for the total cost required for doing business with a particular supplier by identifying the lowest purchase price is not always the lowest cost of acquisition. Hence, this technique works through collecting data from the purchasing firms information system, analysing the total cost including the additional occurring costs whenever a supplier fails to perform as per expected by the buyer. This can be calculated using formula of supplier performance index (SPI) SPI = Total pur