Shurooq Shares and Bonds

Introduction Shurooq is a development agency firm based in Shirjah, in the United Arab Emirates. The company is officially known as The Sharjah Investment and Development Authority. The company was established in 2009 with the special mandate of evaluating and following up on infrastructure projects that are related to tourism.Advertising We will write a custom essay sample on Shurooq Shares and Bonds specifically for you for only $16.05 $11/page Learn More The development agency focuses on providing all possible facilities as well as incentives with the aim of attracting more investors to Shirjah. Shurooq is listed on the local Dubai Financial market where its shares and bonds are traded to the public. This paper analyses possible share problems that were faced by the firm in the past, while ascertaining the causes and remedy that was employed to address the situation. The paper also offers recommendations on the challenge. Losses in Shurooq Shares and Bonds Global financial crisis Shurooq was formed in 2009, a time when the global financial crisis was at its peak. Although the crisis’ origin was in the United States of America, the repercussions were far reaching with countries and firms placed in as far as the Middle East being affected. The global demand for oil, which is the Middle East’s economic mainstay, dropped sharply as the price per barrel rose. This consequently meant that the UAE as a whole lacked substantial funds to inject into its overall economy and firms, such as Shurooq, in order to spur growth and development. Other individual investors and firms, both local and international, also lacked the interest to invest their additional funds through share acquisition. Shurooq suffered immensely given that the firm had only been established and was keen to attract interested investors by floating its shares and bonds. Shurooq devalued its share prices by almost half the original price that the company had quoted in a bid to influence demand for its shares and bonds. This, however, did not achieve the intended target for the firm as the demand for the company’s shares remained poor. As Shurooq struggled with poor share performance, it equally did not achieve some of its intended objectives in its first year of operation. Profit margins were unattractive throughout the year as the company slashed its budget in a bid to contend with the poor economic situation. The small profit margins kept willing investors at bay as they questioned the company’s ability to withstand hard economic times and pay them higher returns for their investments.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Manual system of operation Shurooq’s establishment saw the company rely on a less computerized system of operation, with most of its functions being carried out manually during the first month s of its operation. Shurooq opted for a gradual implementation of a computerized system for its operations as it focused on stability since business establishment is often an expensive venture during the formation period. This decision, however, negatively influenced the share and bond prices of the firm. Operations were generally slow and error-prone, particularly where financial operations were involved. This slow performance eroded investor confidence amongst the few willing investors at the time. In particular, investors were forced to avail themselves physically at Shurooq’s offices in order to make enquiries and do trade with the firm. For investors residing in far-flung areas, the idea demoralized them as they could not find any convenience in the manner in which the company operated. With time, Shurooq established a computerized system that would purposely serve investors through an eTrade mechanism. The aftermath of the development consequently saw an increase, albei t relatively slow, of investor interest and confidence. Investors could comfortably make their enquiries, as well as do trade with the company from the comfort and convenience of their offices or other geographically disbursed locations due to the new developments. Poor communication Shurooq suffered from consequences of poor communication, particularly within its employees, during its initial phase of existence after establishment. Lack of market experience and general operations compounded the development agency’s troubles as there was poor coordination among workers. Interested investors were particularly shunned off by the lack of knowledge that was evident among the workers. People making enquiries about the company via phone or physically were dissatisfied with the responses they got. The workers who had been stationed at the customer care desk appeared to lack basic information concerning their own company. This prompted a significant number of interested and willing i nvestors to hold on their investment decisions as they sought to give the firm more time as they observed its performance. Thus, apart from the external market conditions that slowed down Shurooq’s initial overall market performance, part of the challenges were internal. Poor communication failed to appeal to the potential and willing investors who would have eventually boosted the market demand for its shares.Advertising We will write a custom essay sample on Shurooq Shares and Bonds specifically for you for only $16.05 $11/page Learn More Market competition The United Arab Emirates has generally embarked on an ambitious program that seeks to spur development and growth of infrastructure in the entire country. This program has seen many development agencies and firms established in the country over the recent years. Some of these agencies have been in business for a relatively longer period of company compared to Shurooq. This position proved to be challenging to Shurooq’s ability to attract investors in comparison to the other established companies. The companies used their years of experience in service to properly manage their assets during the global financial crisis’ peak duration. Although the companies also experienced a slump in profitability, they managed to maintain an attractive profit margin compared to how Shurooq had faired on. This, in turn, saw quite a significant number of investors at the time opting to acquire shares of the rival firms other than committing their funds to Shurooq. Investors still acquired more of the rivals’ shares compared to those of Shurooq, despite the fact that Shurooq priced its shares and bonds at low rates compared to its market rivals. Company’s Efforts to Establish Cause of Poor Performance Survey Shurooq sought to establish the reasons that prompted poor performance for its shares and bonds at the Dubai Financial Market. A corporate survey was carri ed out by the firm to understand the market situation and conditions. Shurooq enlisted the services of a third party financial company to undertake the survey on its part. The survey was done in the Dubai Financial Market, where experts from the third party financial company held discussions with the bourse’s management and technical teams. It was from the survey that Shurooq discovered how intensive the global financial crisis had contributed towards poor performance. Apart from Shurooq, many other firms listed in the stock market had experienced tough times because of the diminishing share demand. Investors had opted to remain cautious in their actions as the business situation appeared to be uncertain. The stock market had itself recorded low business performance throughout 2009 as the global financial crisis grew to its worst position. Internal company research Shurooq also conducted an internal research that mainly targeted its employees and the few shareholders it had m anaged to acquire since listing on the Dubai Financial Market. The research amongst employees sought to establish their opinion on some of the reasons they thought Shurooq’s performance was affected at the time. The research involved paper work, where respondents answered both structured and unstructured questions concerning Shurooq’s poor performance in the stock exchange market. To promote participation, the company did not require workers to indicate their names on the questionnaires.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The research carried out on employees noted how their own lack of information played a critical role in dissuading potential investors. The workers admitted that they were in many occasions unable to satisfactorily handle concerns raised by the market concerning investing in the firm. The poor communication structure in the firm only worsened the situation as the employees stationed at the company’s customer care department lacked immediate materials and professionals to rely on for assistance and support. On the part of the shareholders, Shurooq chose to have direct discussions with a few selected individuals to try and establish their opinion and perspectives in as far as Shurooq’s performance was involved. The face-to-face discussions involved financial experts drawn from both the firm, and mainly targeted investors who have been in involved in the share market business for a long time. The few investors were optimistic that Shurooq would eventually improve despite the turbulent times, but they generally pressured the management to speed up critical reforms. They overly noted that the manual system of operation was in bad taste for the firm and there was need for a computerized system to be installed immediately. Remedy Measures Employee retraining Shurooq immediately embarked on a program that targeted to retrain employees in a bid to equip them with significant knowledge on investment and financial matters. Though the workers hired by the firm had attained the necessary educational qualifications, there was need for them to undertake refresher courses that were customized to understand clearly the contemporary market requirements and situation. The refresher courses also aimed at improving the overall efficiency in the operations of the firm. It targeted countering the laxity that had been noted in communication among the staff and communication with the public. Shurooq undertook the refresher courses in stages, with the customer care based staff enjoying the first priority over the other staff members. Computerize operations Shurooq speedily adopted a fully computerized operation system to replace the manual system that was in place before. All the departments were fitted with internet to allow efficient communication within the firm. This move eliminated the slow processing that was being witnessed earlier on and had also been cited as part of the reason that dissuaded investors away from the firm. The company targeted e-trading by speedily computerizing all its operations to address the aspect of convenience that had been raised as a concern for poor performance. Solutions Employee retraining has played a critical role in enhancing overall service delivery at the firm. The earlier concern that prompted its inception, lack of proper knowledge on the part of the employees, was effectively addressed. Potential and interested investors who visited the firm’s premises in order to make enquiries about its operation and position were able to be answered satisfactorily. The retraining merged the workers’ ideas with the contemporary business situation and position of the firm. Thus, as keen investors sought to determine important financial issues about the firm, the workers were able to handle them professionally by providing satisfactory answers in a clear and precise manner. Retraining also improved the internal operations of the firm. Workers understood clearly how to relate with each other and how to undertake their duties and responsibilities more effectively. External stakeholders were able to notice the changes as service delivery improved significantly. The workers strove to ensure they achieved their objectives in order to influence the overall performance of their firm. The speed at which operations were being carried out improved quite substantially after the entire company was fully computerized. Workers could access all the necessary information within seconds, much to the sa tisfaction of the stakeholders by only clicking buttons. The operation costs of the company went down tremendously as Sharooq retrenched part of its huge clerical staff with computers. Expenditure in the form of salaries reduced by a huge margin as the company’s profit margin improved tremendously. Keen interested investors regained confidence and gradually began to acquire Sharooq’s shares and bonds as they had anticipated better returns since the financial state of the company started improving. Recommendations Sharooq’s management should critically consider the external business environment and remain keen on monitoring any slight changes as this may water down all the benefits so far registered by the firm. The best and safest way that Sharooq’s management can cushion its operations against adverse external environment is by investing in multiple business portfolios. The reason why the company faced an uphill task in 1999 during its inaugural phase is the fact that the global financial crisis mainly affected infrastructure building. Thus, even credit firms feared financing infrastructural projects as the returns appeared oblique, at least in the short run. However, the agency would have had a reliable source that would have perfectly cushioned its main business focus had Sharooq had other interests in separate sectors of the economy, such as transport. Most of Sharooq’s established market competitors appeared stable even in the face of the biting global financial crisis because of divesting in various economic sectors. The company’s management must be highly effective if the company has to continue positively on its recovery path. A highly efficient management will understand almost immediately when changes occur in the internal and external business environment. This will prompt them to make appropriate decisions that will be of significant effect to the company. Conclusion Shurooq is an infrastructure development agency based in Shirjah in the UAE. The company faced a huge crisis in 2009, which was also its year of establishment, when it failed to attract investors to boost its capital base. With infrastructure development being a capital-intensive venture, Shurooq’s management worked very fast to ensure the firm was listed at the Dubai Financial Market. The global financial crisis at the time informed many investors’ decision of not acquiring the firm’s shares at time. A company survey sanctioned by Shurooq’s management established that apart from the financial crisis, the firm faced internal challenges as its workface was not better placed to handle financial matters. Its manual system at the time also slowed the accuracy of performance and dissuaded many investors from the firm. However, the firm computerized its operations and retrained its workforce in a move that won investor confidence and has been critical in improving its performance in the stock market. This essay on Shurooq Shares and Bonds was written and submitted by user Nancy Buckley to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Medieval village life Essays

Medieval village life Essays Medieval village life Paper Medieval village life Paper The lord lived in a story house built out of stone. They had space to grow herbs, flowers and vegetables. The manor house had a large garden it has a well in the garden the lord had a fish pond for the fish as for the peasant the only had a house with no windows because the class windows were expensive. The lord had a little amount of glass for the window the people that lived in the manor house had to go out for a loo. The lord of the manor had field for the animals but the peasants did not and so the animal had to be kept inside. The peasants got all kinds of diseases because they kept the animal inside. when some one made food for the lord one off the servant had to check if it is not food poisoned. The kitchens were separated so they had to go outside and make the food. The dinner was eaten at 10-11 oclock. They would eat as much as they could because could afford salt for the meat in winter. But the peasant had to feed there pig to make sure that they are fat and there is enough to eat in winter then they will kill the pig to have them for there super at winter time. The manor had too floors but the peasant had only one room. The manor people had curtains around the walls to keep flies and spider off. But the peasants did not have curtains because they couldnt afford the material. The important buildings in the village granary where they kept there bread. Dove cote was another important building because that where they would feed the doves. The last important building was private chapel that was where the lord of the manor prayed. The peasants were not allowed in the private chapel. The 1fields rule of farming is that you are not to hunt animals if you do you will get punished for it the punishment is that your hands will get chopped off. the 2 Rule is that you have to do your job right to earn money if you dont do it right you get whipped. The common land was important to the peasants because crops grew and the best soil was kept there. It was used to keep grazing and gathering fuels. the land was owned by the Lord of the Manor but people visited there with his permission. The peasants did not own land so in return they had to pay the lord of the manor or if they did not have any money they had to give him something or do something for him such as make him food. Most peasants were farmers . they would do different jobs depending on the season, for example January-nobleman drinking at fire side. February- peasant digging a ditch March- peasant cutting timber April-peasant planting trees May- nobleman hawking June peasant hay mowing with a scythe July-peasant using sickle to cut corn August- -peasant threshing with flail September-peasant picking grapes October-peasant sowing winter corn November-peasant feed pigs on acorn December-peasant slaughtering the pig Another job that they did was making food for the lord. To do these jobs the tools they used they were sickles, scythe, flail, spade and knifes. Samera Bi 7BE 1 03/05/2007 History/ Mrs Thomas Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE JRR Tolkien section.

Fiduciary, regulatory, and contractual Essay Example | Topics and Well Written Essays - 500 words

Fiduciary, regulatory, and contractual - Essay Example For example, an individual entrusting their money to a bank to keep it safely or use it for investment purposes, in this case the bank acts as a fiduciary to the individual. In this type of relationship, an individual, in a vulnerable position, vest his or her confidence justifiably, in good faith and trust in the other person’s advice, assistance or some protection. In this relationship, good conscience needs the action of a fiduciary at any given time for the interest and benefit of the individual who trusts. To indicate that an individual is fiduciary only opens a new chapter and direction for further investigation and inquiry. To whom is the individual fiduciary? What are the obligations that the individual owe as a fiduciary? The norm of the law aims at shaping a conduct that is in existence due to imperfection. It may be used to proscribe conduct or in the calibration of incentives or even in changing individual preferences. Regulation can also be used in rule enforcement and monitoring as established by the legislation either primary or delegated (Griffiths-Baker 67). Regulations focus at creating constraints, limitation or creating a duty. It takes several different forms including self-regulation as exercised by several industries and companies through association of trades, contractual obligations that bind many parties together among others. State mandated regulation attempts outcome production that might not occur, prevent or even produce outcomes in several places to what might probably occur or prevent outcomes in several areas in different timescales that would occur. In this way, regulation is viewed as an artifact of the implementation of statements of policies. Examples of regulations include control of market entries, wages, prices, effects of pollution, approval of developments, employment of some people in various companies, standard of production for some goods.

The Role of Religious Accommodation at Workplace Essay

The Role of Religious Accommodation at Workplace - Essay Example In General, people in the modern world is spending most of their life time in offices and workplace is a significant environment in their life. The modern century is functioning at a fast space and everyone wants to perform their best at their workplace in peace with his inner self. An employee who keeps his religion alive can inculcate enormous ethics, moral and social values in him. In the same way religious accommodation are essential at work place as it increases the quality of job performance and productivity among employees. As per (Laderman) â€Å"Today, "religion" can mean anything at all, from the most personal and intimate spirituality for the individual to the most diffuse cultural activity in any given society†. Religious values increases work quality First when we think about religion, the most important factor that sweeps through our mind is the serenity and satisfaction it brings to the psyche and personality of an individual. As all know ,religion is the direct ion towards God and anyone engaged in this value is at peace .It is obvious that when the self of a person is at serenity he can bring forth vitality to his thinking and personal behavior despite of the environment he is in. Work place environment is mostly stress abandoned and employees undergo much complication and emotional disturbance, when they engage in work place. So it will be greatly benefited on individual basis if the organizations allot some time to the employees for religious practice. According to (TriNet)â€Å"A Gallup poll states that 90% of American adults say that religion is either very important or fairly important in their lives. And with that, arises workplace conflicts†. Frankly speaking, religious accommodation is important in workplace as it increases the confidence and mental balance of an employee which results in quality job performance and productivity. Only a spiritually evoked employee can regulate his behavior and thoughts and give out optimum potentiality to the organization he/she is working in .In an organization, there can be present people from various religious background. However when an employee engage in his/her religious practice , he connect with God and respect all religions and treat his colleagues with respect and humility. Religion can bring about conflict at work place and time management issues Religion indeed is an essential part of every individual’s life , but as there are different religion in world , the ideology and religious culture in a work place vary immensely. This fact can give rise to conflict among employees as their habit and behavior differ according to their religious concept and beliefs. This contradicting view among employees can lead to chaos and dysfunctional situation. When employees hold vengeance and unfriendly attitude among each other, the flow of business can be interrupted and this can create low quality work and unproductive situation in workplace Generally, failure and lockouts can occur in work place and dealing with this issue can create loss of time. When the employees of an organization hold various religious beliefs then the organization can work on a not unifying nature . This is because the employees on various level look at each other as opponent and enemies and they can feel like competing with each other to prove each one’s religion as the best. Such an atmosphere can dismantle the whole unifying environment of the organization.

People Organizations and Management Essay Example | Topics and Well Written Essays - 2000 words

People Organizations and Management - Essay Example 34). Alignment is described as the extent to which the human resource is linked to the business strategy. Capabilities include the talent, resources and information needed to implement the business strategy while engagement is defined as the extent to which people in an organization are committed to the organization. The productivity of the people in an organization and the quality of services offered to customers is influenced by various factors including the extent of team working, the organization’s structure and culture. Team working involves members of an organization working together and complementing each other to accomplish a particular task. When well conceived and implemented, team work offers various advantages which include enhanced creativity, increased employee satisfaction and it offers an opportunity for one to develop and acquire new skills (REF). Moreover, team working enhances the speed with which results are achieved and creates a support network for employ ees which they can rely on. Organizational design also determines the performance and productivity of the people in an organization. Generally, organizations may fall into either traditional or contemporary organization design. Under traditional organizational design, an organization may have simple structure or a functional structure while contemporary design may be team structure, matrix structure or project structure. Moreover, contemporary organizational design may be either lead to autonomous internal units, boundary-less organizations or learning organizations (Chatterjee, 2009, p. 150). Moreover, the human resource in all organizations is influence by the culture of that organization (Chatterjee, 2009, p. 147). Organizational culture is described as the pattern of norms, beliefs, values, attitudes and all those assumptions which may not have been articulated although they determine the way people behave and carry on their daily businesses. It is a system of informal rules gui ding people’s behaviour in an organization (Campeanu-Sonea et al., 2010, p. 328). This paper will make a comparison of teamwork, organizational design and culture of two different firms; Biogenia and Sleepeasy. Biogenia is an international company involved in the production of farming chemicals such as herbicides, fungicides and insecticides. It has an employee base of 15000 and operates in ten countries. On the other hand, Sleepeasy is a mid-market hotel chain targeting business travellers and tourists. Comparison of approaches to teamwork and team-working at Biogenia and Sleepeasy Given the many benefits accruing to an organization after fostering teamwork, firms always strive to enhance it. However, different organizations use on varied approaches to achieve teamwork as brought out in the case study the Biogenia and Sleepeasy. Grant et al. (2005. p.165) described six approaches that are used in teamwork. These approaches include shared plans, joint intentions, team plans, cooperative problem solving, collective intentions and cooperative subcontracting. In team plan approach; teamwork is based a group of people with an intention of performing a complex task while in joint intentions all the agents in a group have a specific intention which brings them to work together (Grant, et al., 2005, p. 168). In shared plan approach, agents are bound together by a set of intentions. Cooperative problem solving approach to team work is based on an intention to interconnecting different

Human Error In Maintenance Computer Science Essay

Human Error In Maintenance Computer Science Essay Human errors maybe categorized under six groups with respect to engineering: design errors, assembly errors, installation errors, inspection errors, operating errors and maintenance errors. Maintenance error is the result of the wrong preventive or repair actions carried out by the craft or assigned personnel. Base on the frequency of maintenance being performed the probability of human error increases. To reduce some human errors maintainability is important in the design phase of a component or system. Maintainability according to Ebleing is defined as the probability that a failed system or component will be restored or repaired to a specified condition within a period of time when maintenance is performed in accordance with prescribed procedures. Dhillon describes maintainability as the measure taken during the development, design and installation of a manufactured product that reduces the required maintenance, man hours, tools, logistic cost, skill levels and facilities and ensures that the product meets required intended use. The interactions with humans during the design, installation, production and maintenance phases are extremely important. In some phases these interactions may vary depending on the product, but are subject to deterioration due to human error. With respect to engineering products, Meister describes human error as the failure to carry out a specified task or forbidden action that could result in disruption of scheduled operations or damage to property and equipment. This paper looks at the human errors in maintenance practises. 2.0 General Human Factors in Maintenance Frederick Taylor was one of the earlier people to studied human factors attempting to improve design and increase productivity. In maintenance, systems may fail for numerous reasons, one key element being human factors and errors during the design phase. According to Nertney Et al, the following are a list of different human behaviours: People have a tendency to use their hands for examining and testing People get easily confused with unfamiliar things People are too impatient to take the appropriate amount of time for observing precautions People become accustom to certain colours having certain meanings People sometimes overestimate short distances and underestimate horizontal or large distances People may become complacent and less careful after successfully handling hazardous items over a lengthy period People tend to estimate speed or clearances poorly People responds irrationally in emergencies Instructions and labels are read incorrectly or overlooked Attention is drawn to loudness, flashing lights, bright and vivid colours People have little knowledge of their physical limitations People fail to recheck work for errors after performing a procedure They are reluctant to admit errors or mistakes and they do not see objects clearly People get distracted by certain aspects of a product feature People usually expect valve handles and faucets to rotate counter-clockwise for increasing flow of a liquid steam or gas People carry out task (maintenance) while thinking about other things http://www.iru.org/pix/irupolicies/graph-etac-en_1.gif Figure 2.1 Human Senses and Capabilities The five human senses are touch, smell, taste, visual and hearing. In maintenance, visual, smell, touching and hearing are the more common of the human senses being utilized. 2.1.1 Hearing The ability of human to hear is an important factor in maintenance work. When designing for maintainability, excessive noise may lead to problems such as the need for intense concentration, a reduction in workers efficiencies, lost of hearing, unwanted effects on the tasks being performed. 2.1.2 Sight Sight is stimulated by electromagnetic radiation of certain wavelengths. This is measured on the electromagnetic spectrum for visible light. The human eye is sensitive to greenish-yellow light and it sees it differently from different angles. The following are some facts about the human eye: Normally, the eye can perceive all colours when looking straight ahead. As the viewing angle increases, colour perception decreases significantly. When there is poor lighting it may be impossible to determine the colour of a small point of light source. The source usually appears white. When designing components, designers should consider colours such that weak colour people do not get confused. An example is to use red filter with a wavelength greater than 6,500 Ã…, and try to avoid placing too emphasis on colour when critical tasks are to be performed by tired personnel. 2.1.3 Touch Touch complements a human ability to interpret visual and audio. Touch maybe used to relieve the eyes and ears of the load. The sense of touch has been used for centuries in technical work. For example, touch has been used for detecting surface irregularities and roughness. 2.2 Ergonomic Principles The subject addresses human to system interface issues also called human engineering or engineering psychology. In addition to considering the human to system interface, ergonomics is also concerned with: Human dimension The working environment and its effect on humans Effects of systems on humans http://www.omron-ap.com/technical_guide/safety_component/safety_component_12.gif Figure 3.0 Maintenance Errors Human errors in maintenance occur for a number of reasons. In figure 3, a list of different reasons is shown for errors with respect to maintenance. Studies have shown a positive correlation between task performance and amount of time in a career field, ability to handle responsibility, morale and years or experience. Workers who possess these skills are ranked higher and works are generally done faster and with fewer errors. Figure Reason for Human Errors 3.1 Inadequate training and Experience Workers who are inadequately trained and lack the experience on a machine or component will most likely make errors when performing maintenance tasks. They will spend additional time trying to understand what to do rather than effective execution of the task. Errors such as correct shut down procedures, tightening of bolts, correct alignment of components may be done wrong and adversely affecting production, increasing maintenance cost as maintenance work may need to be repeated and can be a safety risk to the maintenance personnel, operator, or the equipment. 3.2 Poorly Written Maintenance Procedures Due to poorly written procedures, there could be cases of components going in wrong place or new components being incorrectly installed. This as with the previous reason can cause harm to craft personnel, operator or the machine. Tasks will take longer because the craft personnel following the procedure will have to spend more time figuring out what to do rather than carrying out the task in a timely and effective manner. 3.3 Fatigued Maintenance Personnel A fatigued maintenance personnel is a receipt for disaster. The personnel will lack concentration and will miss minor details of the work. There will be general tendency to rush the job in attempt to finish fast increasing the probability of errors. This may be influenced by the time of the day, stresses (physical, drug, social, personal) http://elsmar.com/Error_Proofing/img014.jpg Figure 3.4 Complex Maintenance Task Complex and tedious maintenance task may be subject to human errors because of the high levels of concentration required. Humans usually have a low attention span and works requiring excessive hours of concentration may have errors induced. Such jobs should be done in teams so that if one personnel makes an error it can be corrected by other members on the job. 3.5 Improper Work Tools A job requiring a specific tool should not be substituted with an inferior one. An example of this is when a specified torque may be required on a bolt or nut requiring a torque wrench or spanner to achieve a level of precision and accuracy and a regular wrench or spanner is used. This may cause misalignment, et cetera. 3.6 Poor Work Layout Poor work layout is inefficient and can cause errors to be made by the maintenance personnel. 3.7 Poor Work Environment A poor work environment will cause discomfort to the maintenance personnel such as humidity, lighting and heat. Concentration levels will be low and there will be a rush to complete the task. 3.8 Poor Equipment Design In some equipment, components may be difficult to reach to perform the necessary works. Errors may be caused in the process as the tasks may not be carried out completely. 3.9 Outdated Maintenance Manuals It will be extremely difficult for maintenance personnel to follow out-dated maintenance manuals. In such an instance, the procedure will most times be incorrect inducing a number of errors in the job. 3.10 Factors Contributing to Human Error Reason and Hobbs have studied and researched the psychological and physiological factors that contribute to inevitable human error. These will include: Differences between the capabilities of our long term memory and our conscious workspace. Attention span is limited if it is focused on one thing. Also we can only attend to a very small proportion of the total available sensory data we receive Unrelated matters tend to capture our attention Concentration is hard to maintain for lengthy periods of time The ability to concentrate depends strongly on intrinsic capability of the current object attention Habitual actions are done will less attention than normal The right balance of attention is required to correctly perform a task The vigilance decrement- inspectors miss fault because it may become redundant after doing it for a long period The level of arousal- too much or too little impairs work output Biases in thinking and decision making Confirmation bias where we seek information that confirms initial diagnosis of a problem Emotional decision making is when a situation is frustrating then an aggressive approach is induced http://www.lifetime-reliability.com/images/wrongs-humans-do-to-machines.gif Figure Human Maintenance Errors Base on the aforementioned factors contributing to maintenance errors, the following are the most common types of errors: Recognition Failures These include misidentification of objects, signal and messages and non detection of problem states. Memory failures Input failures- Insufficient attention is to the to-be-remembered item. Storage failures- remembered material suffers interference Output failures- things that we know cannot be recalled at the required time Omissions following interruptions Premature Exists- End a job before all tasks are complete Skilled-based Slips Usually associated with routines and they can include: Branching errors- an error made based on a custom and not knowing when to deviate. Over shoot Errors- having an intention but forgetting to do it Rule base Mistakes Misapplying a Good Rule- using a right rule in a wrong situation Applying a bad rule- unwanted consequences in using a rule even though the job will be done. Knowledge Based Errors It is common when someone is doing a task for the first time but not always the case. Violations Purposeful acts which violates procedures. These may be: Routine violations- done to avoid unnecessary effort, gets the task done quickly, to demonstrate skill or avoid what is seen as an unnecessary laborious procedure. Thrill seeking violations- often committed in order to avoid boredom or win peer praise Situational violations- these exist because it is not possible to get the job done if procedures are strictly adhered to. Figure Summary of main error types 4.0 Mitigation/Reduction of Hum Errors in Maintenance It is impossible to total alleviate all human errors when it comes to maintenance, but Engineers and designers have worked together and is continuing to find ways to reduce some human errors. However a lot of the responsibility is on the maintenance personnel to ensure that maintenance tasks are carried out effectively. This chapter looks at ways to reduce human errors in maintenance. 4.1 Avoid Unnecessary Preventive Maintenance Over maintaining equipment, not only wastes time and money but it also increases the risks of environmental incidents but also causes expensive and unnecessary failures. Reliability Centred Techniques such as Failure Mode and Cause Analysis, Fault Tree Analysis and others can be useful eliminating unnecessary maintenance works and optimizes and streamlines the equipment preventive maintenance. 4.2 Standardization Ankenbrandt et al noted that standardization is the attainment of practical uniformity in product design. Non-standard equipment or component lessens the reliability and increases maintenance. Standardization restricts the number of components equipment will require. The advantages of standardization according to Dhillon are: Reduction of using the incorrect parts Reduction in wiring and installation errors due to the fact of variations in characteristics of similar items Elimination for the need for special parts Reduction of incidents because of the use of wrong or unclear procedures Reduction in design time, manufacturing cost, and maintenance cost Reduction of procurement, stocking and training Figure 7 shows the goals of standardization. Figure Goals for reducing errors 4.3 Modularization Modularization deals with a production into physically and functionally distinct units to allow removal and replacement. The following are guidelines for the usefulness associated with modular units: Aim to make modules and parts as uniform as possible with respect to size and shape Divide the equipment or item under consideration into many modular units Aim to make each module of being inspected independently Design the equipment so that a single person can replace a failed part with ease and also parts should be small for mobility Module should be designed for maximum ease of operational testing when it is removed from the actual equipment or system. Consider design, modularization and material problems simultaneously For ease of disconnection, design components with control levers and linkages to allow easier replacement. 4.4 Simplification and Accessibility Design engineers should consider simplification in the design phase and it should be constant. Consideration should also be taken with the important functions of a system or a product into the design itself. Accessibility is the ease with which an item can be reached for repair, replacement or servicing. Poor accessibility will result in sub-standard maintenance. Accessibility is affected by: The visual needs of personnel performing maintenance task, The location of an item and its environment. Distance to be reached to access the component or part The types of maintenance to be performed through an access point or opening The danger associated with use of an access opening The clothing worn my maintenance personnel The task required time for execution The types of tools and accessories required to perform task Mounting of items behind the access point Work clearance to carry out task 4.5 Interchangeability and Identification Interchangeability refers to as an intentional aspect of design, that any component can be replaced with a similar item. This is achieved through standardization. There are three basic principles for interchangeability according to the Department of Defence (DOD): In items, components and products requiring frequent servicing, replacement of parts, each part must be interchangeable with another similar part Liberal tolerance must exist Strict interchangeability could become uneconomical in items that are expected to operate without replacement. The following considerations are taken to achieve maximum interchangeability of parts: Existence of functional interchangeability when physical interchangeability is a design characteristic Sufficient information in task instruction and number plate identification should be available for allowing users to decide confidently whether two similar parts are interchangeable No change in method of connecting and mounting when there are part or unit modifications Avoid or stay away from differences in size, mounting and shape Availability of adapters for making physical interchangeability possible when total interchangeability is not practical There should be and identification system for total interchangeability of identical parts 4.5.1 Identification Identification is concerned with labelling or making of parts, controls and test points to facilitate tasks such as repair and replacement. Maintenance task becomes more difficult when parts and components are no properly identified. It usually takes longer and increases the risk of human induced errors. Identification could be for parts or component or equipment identification. 4.6 Task Analysis The task analysis is a formal methodology derived from systems analysis which describes and analyse performance demands made upon humans within a system. The aim is to achieve integration of humans and machine system components. 5.0 Assessing the Risk in Maintenance Risk assessments of all human activities have great importance for the prevention of major accidents. The risk with respect to human errors when dealing with maintenance needs to be assessed and rank based on the overall impact the risk can have on the operation of the organization. The Risk Management Framework used is shown in Figure 8.0 This program was utilized to conduct a risk assessment and evaluation before and after the risk control measures have been put in place. The main aspects of the Risk Analysis procedure are: i. Identify Potential Hazards and existing risk control or safeguards. ii. Estimate the consequences of the potential Hazard. iii. Estimate the frequency of each of the impact/consequence of the potential hazard. iv. Determine the Risk without considering any new risk control or safeguards v. Determine the Risk with proposed new safeguard vi. Evaluate Economic impact of proposed new safeguard vii. Optimize and propose additional modification. Figure Risk Management Framework As indicate in the previous chapter (3), each human error identified will have to be ranked via a metric scoring system to determine the hierarchy of the error. The impact of these errors will have to be taken into consideration with respect to the employees (operators and maintenance staff), the equipment and the environment. Figure Diagram Showing Contributors of Risk 6.0 Human Errors in Maintenance in Industry Human error in maintenance exists in some form or the other in all industries. However, in some industries the consequences of human error from maintenance task can be catastrophic. Industries such as nuclear plants and civil aviation cannot afford errors. 6.1 Human Maintenance Errors in Power Generation Human factors play an important role in power plant maintenance because improving the maintainability design of power plant facilities, systems and equipment assists to improve direct and indirect plant productivity, availability and safety. According to Seminara power lost can cost between US $500,000 to 750,000 dollars a day. The following are human related deficiencies in maintenance of a power plant: Limited access or inadequate clearance to perform maintenance Equipment poorly designed to facilitate maintenance activity effectively Equipment Inherently unreliable Personnel safety hazard Impaired mobility for equipment and personnel Miscellaneous- lack of standardization, high temperature environment and poor air conditioning While maintenance activities of nuclear power plants are essential for sustaining the safety of a power plant and maintaining the reliability of plant systems and components, they also have potential of human errors leading to unplanned reactor trips or power derate (Dhillon 2006). J. Reason classifies in chapter 3 the different characteristics of human errors that will be applicable to Power Plants. According to Kim et al, incidents reports in Korea stated that most of the human related unplanned reactor trip events during the normal power operation are associated with test and maintenance activities (63%). Plant maintenance included preventive maintenance, planned maintenance and corrective maintenance. 6.2 Human Error in Aviation Due to the increase in air travels, airlines spend billions of dollars in maintenance annually. A study done in the United Kingdom has shown that between 1990 to 2000 maintenance errors per million flights has doubled (ICAO) According to the ICAO there are over 300 factors and influences that can impact the performance of maintenance personnel. Some of the human errors that are impacted by maintenance are listed in chapter 3 and range from time pressure, inadequate training to outdated maintenance manuals. There are many categories of human errors with respect to aviation maintenance and inspection. Some of the major ones encountered according to Latorella et al are: Incorrect assembly sequence Procedural defects Wrong part Incorrect configuration Missing part Defective part Functional defects and tactical defects Figure List of Errors in Aircraft Maintenance Figure 10 shows the guideline covered in aviation. Two important guidelines concerning design are: Seek relevant information on human error occurrence during the maintenance phase as inputs in the design phase Ensure that manufacturers give attention to maintenance related human factors during design phase According to James Reason based on a Boeing study which indicated the top seven causes for in-flight engine shut downs on the Boeing aircraft were as followed: Incomplete Installation (33%) Damaged on installation (14.5%) Improper Installation (11%) Equipment not installed or missing (11%) Foreign Object Damage (6.5%) Improper fault isolation, inspection and test (6%) Equipment not activated or deactivated (4%) From the statistics presented only one cause was unrelated to maintenance activities. Maintenance activities were responsible for approximately 80% of in-flight engine shut downs. 7.0 Prediction Models for Human Errors Human error can be analysed by several methods developed over the years. Some of the following methods are relied on heavily in the aviation industry. 7.1 Cause and Effect Diagrams This is a useful tool to determine root causes of specified problem in relation to maintenance errors. Related and relevant ideas are generated. The extreme right of the diagram represent effect and to the right are all the possible causes. The cause and effect can be generated in the following steps: Develop problem statement Brainstorm to identify possible causes Establish major causes categories by stratifying into natural and process steps Connect diagram to all the causes by following the appropriate process steps and filled in the effects Refine cause categories by asking What cause this and Why does this condition exists? 7.2 Error Cause Removal Program (ECRP) This was developed to reduce the occurrence of human error to a tolerable level in production operation. It focuses on preventive measures rather than remedial ones. It is composed of a team of workers with each team having its own coordinator with the necessary skills. Each team member presents a report and the coordinator discusses these reports in a periodic meeting and recommendations are made to management. 7.3 Fault Tree Analysis The fault tree analysis (FTA) is used to perform reliability and safety analyses of engineering system and can be use to perform analysis of human error in maintenance. 7.4 Markov Analysis This method is used to perform reliability analysis of engineering systems and can be used to predict the probability of occurrence of human error in maintenance. This is done through mathematical modelling. 7.4.1 Model 1 This mathematical model indicates a system that can fail due to maintenance error or other failures. See figure 11. Numerals in box, circle and diamonds represents system states. The following assumptions are made for this model. The system can fail due to maintenance error or failure other than maintenance error The failed system is repaired and maintenance is performed periodically Fail system repair rates are constant The repaired system is as good as new Figure Markov Model 1 Diagram 7.4.2 Model II This mathematical model represent a system that can only fail due to non maintenance related failures but its performance is degraded by the occurrence of maintenance error. See figure 12. The numeral in circle, box and diamonds represents system states. The following assumptions are made for this model: The total or partially failed system is repaired and preventive maintenance is performed regularly The occurrence of maintenance error can only lead to system degradation but not failure The system can fail from its degradation mode due to failures other than maintenance errors The system is repaired at constant rates from its failed and degradation states Maintenance error and non maintenance error failure rates are constant The repaired system is good as new Figure Markov Model 2 8.0 Conclusion This report gives a comprehensive analysis of human errors in maintenance. Human errors are inevitable and there are numerous factors that can influence these errors. The first step is to identify the different human errors that may be encountered in an industry, conduct an assessment on the errors and take necessary steps to reduce these errors. The traditional approach of dealing with human error, that is counselling and or re writing procedures may not be effective in dealing with the errors identified in this report. A more holistic approach for managing maintenance error and assuring maintenance quality techniques is the application of reliability centred maintenance and also designing for maintainability.

sumthin on hitler :: essays research papers

Adolf Hitler was an enigma to many people. The mysterious, vibrant man who believed above all in his supreme confidence led Germany down one of the 20th century's darkest paths. Indeed, any understanding of the actions taken by Germany in the 1930s and 40s must be based upon concise knowledge of Hitler as the country's leader. The following is a compendium directed at examining closely Adolf Hitler the man who became Adolf Hitler the myth. Hitler entered office in the wake of some of the happiest years of his life. During the years 1926-29 he had purchased a home in the Bavarian mountains (1927) and his lazy days were filled with painting and daydreaming. He was quietly laying out of the public eye before coming to power (ironically in a democratic fashion) in 1933. When Hitler took office he immediately began to make his mark. He was a man who believed himself to be a supreme judge in all areas, and this was exemplified when he appointed committees to oversee every facet of social life (theater, propaganda, education, dress, etc...). However, whenever Hitler disagreed with any decision made by a committee, he would automatically overrule in his favor. He believed in his hardness and his brutality, and above all his confidence and ultimate inevitable success. As his regime began to grow stronger, so did this boundless confidence. Hitler's greatness was something that he was aware of and wanted to make the public aware of as well. The best way he exuded himself to the public was through his speeches. He seemed to be a man possessed to the public, a mystifying presence in public who began to sway the will of the people. Here is where the mythical man was born. He was the tireless public speaker who dared to brave the law and uncover the true state of affairs for the people. He was the man who's heart was in the cause and could arouse the emotions of the people and channel them to the nationalism they wanted. Through his endless public addresses and tireless effort, he became a man who the people saw as their champion. He embraced this feeling and became a leader of near biblical proportions in Germany. But who was this man underneath the growing myth? What was he like? The man himself is a study all his own. He was a very secretive man about his personal life which

A chiropractic office Essay

A chiropractic office lost all of its computer data, and I was hired for the amount of time that it would take me to type up all of their hard copies into their new computer system. It took me a total of two weeks to type up a three-foot stack of papers. The skills required were mainly typing and editing skills, and sometimes I had to be able to read the doctor’s handwriting. I felt that no further motivation was necessary regarding skill level, since I am a quick, accurate typist and I enjoyed learning about various alternative health remedies as I went along. I completed the entire stack of papers by myself, and I found the solitary work to be relaxing and enjoyable. I felt that my job was, indeed, meaningful since many of the papers were standard legal forms or alternative health information or recipes for kidney stones or other ailments. At any given point in time, I was either directly assisting the chiropractic office or the patients thereof. Since I was a friend of the chiropractor and a trusted member of the staff, I was given full autonomy to complete my assignment on my time, at my discretion and on my schedule. That motivated me to do a stellar job in a short amount of time. Afterward, everyone was impressed by the quality of work I did, but especially the short amount of time in which I did it. I felt satisfied and like I accomplished something worthwhile and in an efficient manner. Â  I will use this same chiropractic office as my next example. An example of strategic planning is when the chiropractor refers the patient to their next appointment, telling them what needs to be checked up on or corrected next time. In this manner, he is not leaving it up to the patient to decide, but recommending a timeframe for when they should return. In this manner, for as long as the patient needs his help, he is providing himself continuing clientele. An example of functional-level planning is when he hired me to type up his paperwork or hired a receptionist to take care of patient evaluation and scheduling of appointments. In this manner, he is allowing himself to give the patients his full, undivided attention which will heal them faster, and allocating other work responsibilities to other people. In this way, he remains organized and punctual. The differences in decision making between the chiropractor and, say, his receptionist is drastic. If the receptionist were to determine when a patient was finished with treatment, a patient could be over-treated or under-treated and lose a lot of money, which would be spread by word-of-mouth and cost the business lots of money. And if the chiropractor made it his responsibility to take care of the tax reports, he would spend hours away from his treatment table, when he could be taking walk-ins or checking the status of a patient’s healing.

Animal Experiments Ethics Controversy Essay

Experiment In present-day society, it is a well-known fact that animal experiments are playing an increasingly key role in our lives, and it is advancing at an amazing speed. Its research results have completely changed our lives. But in the meantime, the animal experiments ethics controversy has sparked much debate. Many people think that for the survival and development of humans, animal experiments are necessary. While some people argue that life of animals and humans are equally important, they are against any form of animal experiments. In this essay, I will compare and contrast two typical opinions regarding this issue. Convincing arguments can be said that animal experiments are commonly used in medical research. In studies on investigation and prevention, human diseases play a huge role. To start with the role of medicine, using animals to test new drugs could help in understanding the effects and side effects of new drugs. Therefore, people don’t have to be test subjects, and can avoid the dangers of being these test subjects. Moreover, animal experiments in cloning human organs also have a new break through. For instance, people found that goats implanted with human stem cells have blood and organs similar to DNA of humans. Specifically, the main use of it is nurturing human organs in animals’ bodies. One day when people are injured or sick, they will be able to directly replace organs. More importantly, through animal experiments, we can explore the mysteries of human lives. In other words, controlling the human diseases and aging, extending the lives of humans could be realized by animal experiments. For these reasons, some statistics show that biomedical research projects with more than 60% need to conduct animal experiments. There are many topic researches of animal experiments that are difficult. After years of research, animal experiments have saved countless lives, and it will continue to save more lives. Compelling arguments can be made that animal experiments play an irreplaceable important role in many other fields of science. In the first place, national defense and military science obviously rely on animal experiments. As we know, the first creature into space was not human, instead it was a dog. People did a lot of experiments with the dog in space, and thus gained a lot of data. Sensors were used to monitor her heartbeat, blood pressure, and other bodily functions to better understand any physical changes that might occur in space. In the second place, agricultural science, using animal experiments is very important and meaningful. Thus chemical fertilizers, pesticide residue testing, and quality of food, is eventually determined through the uses of animal experiments. Last but not least, in the area of light industry, people’s daily necessities, especially, the effects of chemical products are experimented on animals to test for harmful ingredients. For instance, before food additives, fur products, cosmetics, and so on, companies were required to conduct animal experiments to prove they were not harm to the human body. With the development of times, more and more fields need animal experiments. Maybe people haven’t noticed, but it has become an essential part of people’s daily lives. It may be tempting to argue that animal experiments are not fair. The main reason for this is that people think animals and humans have the same basic survival needs, and high levels of psychological needs. Obviously, animals and humans have the same rights to live in the world. We need to respect animals, respect lives. Another reason is some people think that animal experiments are too cruel. For example, Draize eye irritation test is used to measure the stimulating degree to human eyes of certain products. Rabbit’s are always used to do this kind of test, since they don’t have tears. People lock up these rabbits, open their eyes, and drop in the test substances. In order to get the best results, people will be forced to close their eyes. Moreover, after the experiments, all the rabbits will be killed, whether they are healthy or not. Even so, we should not do this in order to save animals lives instead we should sacrifice people’s lives. We can’t dent animal experiments, since it has some inadequacies. I believe that before we find a viable alternative, the majority of people would still support animal experiments. In summary, I would concede that we should protect animals’ rights and welfare, try to reduce or stop animal experiments. Despite that in the present level of technology, the existence of animal experiments for the development of humans is very necessary. Overall, I am convinced that we should use the proper experimental design, and data analysis methods to reduce the use of experimental testing on animals in the existing conditions, and look for new alternatives actively.

Corporate Social Responsibility and Timberland Essays

Corporate Social Responsibility and Timberland Essays Corporate Social Responsibility and Timberland Paper Corporate Social Responsibility and Timberland Paper In what ways does Timberland fulfill its responsibility to consumers, employees, investors and society as a whole? A : 1 : Timberland’s mission has been to equip people to make their difference in the world. Let them be consumers , employees , investors or society as a whole. Timberland ‘s business is a model for both commerce and justice having a long history in this regard. While continuing to build its reputation as a brand that stands for durability, ruggedness the American outdoor since 1950 , Timberland has been constructing a reputation of integrity and commitment to the community as well. Timberland is committed to ensuring that the workers who produce products are provided with fair, safe and non-discriminatory workplaces. Their products are produced in factories across the globe- in 38 countries by roughly 300 factories and approximately 247,000 workers. Timberland ‘s Code of Conduct is to officially formalize the pursuit of human dignity in the manufacturing process. Timberland has always pursued to serve their various stakeholders- from a demanding shareholder or discerning customer to an employee who wants to make a living with purpose. Timberland has maintained their contract very well with various vendors, suppliers, customers, and local communities to create products. Timeberland ‘s our Code of Conduct demands much more than the minimum industry-standard requirements of environmental and human rights laws. Child labor has been adhered at 16 (which is higher than the law in some countries where their products are manufactured today), and also overtime being paid at a premium despite local laws and have maintained zero tolerance for working hours over 60 hours per week. Timberland listens to stakeholder voices and constantly works to improve assessment and human rights programs. They have taken on the challenge of helping factories build new and different management systems and improves staff knowledge about corporate social responsibility issues. Timberland has also incorporated items that often fall â€Å"beyond factory walls† into the assessment program. Basic things like nutritious food, medical services, housing, child care, schooling, and transportation are all taken into account during the evaluation. It is ensured that that there are ways for workers to learn and grow, such as opportunities for recreation, skills development, and savings or credit- all essential for ensuring the dignity of workers in the global supply chain. As a publicly traded enterprise and a corporate citizen, Timberland is committed to engaging investors / stakeholders in dialogue and action to reduce our global footprint. Investor profiles is broad and diverse, and includes groups or individuals who can affect- or are affected by- the company. Timberland’s approach to stakeholder engagement focuses on two central tenets- transparency and accountability . Transparency enables to engage in candid dialogue with stakeholders, challenge assumptions and encourage innovation. It also helps build trust with these partners and critics to deepen understanding of impact on the world and advance approach to corporate social responsibility. Accountability similarly drives efforts to seek public and stakeholder input as to pursue commitment to commerce and justice. By communicating performance, stakeholders can measure progress and hold them accountable for planned improvements. At Timberland, social responsibility starts at the top. The Company has a strong set of values that form the resolve for all that is being done for he community – humanity, humility, integrity excellence. Timberland has pioneered several progressive environmental and social programs. All these programs together under one umbrella of Corporate Social Responsibility formalized Timberland’s Four CSR Pillars: Energy, Product, Workplace Service. Embedded in each pillar is a commitment or bold goal that drives Timberour strategy in that arena. Q : 2 : In addition to a climate o f social responsibility, do you think Timberland is likely to foster a climate of ethical awareness throughout its organization? Explain your answer. A:2 : Timerland’s Code of Conduct : To create measurable sustainable impact in the lives of workers , the communities where we live and work and the environment we cherish through strategic relationships and investments that unleash civic potential , build capabilities and convene stake holders in common purpose. Well, I feel, its indeed a great combination Timberland has to do business keeping in mind social welfare . Business and community being joined together to create more powerful enterprise and community fostering a climate of ethical awareness throughout its organization. The issues being embraced as an enterprise and as a community are complex and far reaching. And to extend influence as a responsible business, Timberland looks for opportunities to leverage their expertise by educating and empowering a wider society (that is, other brands, government organizations and private citizens). In this way, they promote and steward the environmental and social health of our planet and its people and share our passion for Earthkeeping activities. Approach to building strong communities and a healthy planet through civic action is grounded in three basic criteria: Timberland’s corporate culture is built around values of Humanity, Humility, Integrity and Excellence. In the CSR arena, as in every aspect of the company, all programs must reflect these values. Company rely on a collaborative process built on a common vision and aligned values- within our organization and with partners in the industry- to create enduring change. This includes working together to raise awareness, model innovation and compel action. The results of efforts across all four CSR pillars of Energy, Product, Workplace and Service must be measurable and transformative . Q : 3 : In what ways does Timberland’s path of service programs help develop the quality of its work force? A: 3 : Business community shall be joined together you have a more powerful enterprise community. said Ken Freitas – Timberland Vice President Social Enterprise. Timberland implements this commitment through a serious of programmes in which its employees including top managers corporate dollars participate. Thru its path of service program, employees receives up to 40 hours of paid time per year to participate in community service projects at local schools, day care centers, the society for prevention of cruelty to animals ( SPCA ), food banks, and the like they might clean up a nearby beach or help build a park. Years ago Timberland established its service sabbatical program, in which 3-6 months sabbaticals are awarded to as many as 4 employees who wish to use their professional skills to assist non profitable organizations full time, then there is a global serv–A–Palooza, the annual worldwide co-wide celebration during which 2000 employees, vendors and community partners in a day of service. Engaging as a company in community service over the years has produced a variety of benefits, including the following: Augmented employee development. Our service projects are employee organized and led. Employees who step up to lead service projects receive training in project management, team motivation, and presentation skills, which they can transfer from their service roles into a professional capacity . Increased employee attraction and retention. Responses to our global employee survey consistently indicate that the Path of Serviceâ„ ¢ program benefit is a factor in our employees’ decision to work for and stay at Timberland. Strengthened business partnerships. Timberland encourage employees to share the service ethos with business partners, vendors, and customers, to increase the impact which can be made in communities. Sharing in service experiences provides insight into the company culture and values- an asset in building ongoing business relationships. Reinforced commitment to community building and goodwill. Lasting impacts prevails in the communities in which contributions linger long after the specific service event.

Mattels's Chines Sourcing Crisis of 2007 Assignment

Mattels's Chines Sourcing Crisis of 2007 - Assignment Example 3.Many international trade and development experts argue that China is just now discovering the difference between being a major economic player in global business and its previous peripheral role as a low-cost manufacturing site on the periphery of the world economy. What do you think? 14 1. Mattel’s global sourcing in China, like all other toy manufacturers, was based on both low-costs manufacturing, low-cost labor, and a growing critical mass of factories competitively vying for contract manufacturing business. Do you think the product recalls and product quality problems are separate from or part of pursuing a low-cost country strategy? Mattel was founded in the year 1945 by Ruth Handler, Elliot Handler and Harold Matson (Mattel, 2001). Mattel, a toy company from the United States, has been preserving a business relationship with China since 1959. Despite having a long-term trade relationship with China, Mattel had to face numerous ethical problems regarding its production process. Likewise any other multinational company, Mattel’s functions in the Chinese manufacturing sector was majorly focused on the low-cost production process with the virtues of low-cost labourers. Moreover, with the effect of modernisation and globalisation, the Chinese industry was also flourishing with growing numbers of small factories which were solely focused on operating as third-party manufacturers for global brands and thus earn a large amount of foreign currencies. This further motivated Mattel to shift its production process in the Chinese manufacturing sector with the intention of minimising its responsibilities towards quan tity production and thus attaining a larger market share along with increased sales (Dietz & Gillespie, 2012). With its production functions transferred to the low-cost market of China, Mattel was able to earn various advantages in terms of low-cost labourers as well as low-cost raw materials. However, the shift of Mattel’s production functions

A CRITICAL REVIEW OF THE USE OF FACEBOOK AS A SOCIAL MEDIA TECHNIQUE Literature

A CRITICAL OF THE USE OF FACEBOOK AS A SOCIAL MEDIA TECHNIQUE TO PROMOTE SMALL AND MEDIUM SCALE BUSINESS ONLINE - Literature review Example oviding online shopping experience to its customers and over the years this mode of shopping has been very well accepted by the customers (Internet World Stats, 2012a). However the industry had also witnessed a crash of some major companies and it was realised that competing in the age of internet has become more risky and this tool has to be used very wisely so as to gain the competitive edge (Internet World Stats, 2012b). Social media is still being deemed as a transforming power of the present world. It makes marketing more innovative and intellectual. Social media network allow its users to share ideas, events, activities and interests by providing a platform to share news and information, provides different alert services like CAS and SDI, facilitates enhanced consumer knowledge by allowing product reviews, provides information about new products and services and allows businesses to come up with innovative strategies that would help the owners expand the business opportunities among a wide range of customers (Kalmath, 2013; Humphrey and Schmitz, 2002). The activity of a group of people gathering together to share knowledge, views and information by making the use of conversational media is commonly known as Social media (Weinberg, 2009; Kaplan and Haenlein, 2009). There are different forms of social media that SMEs can take advantage of, for example, social book marking, blogs, social networking websites, content writing communities, virtual worlds, micro-blogging sites, online gaming websites, news sites, online forums and many more. Web 2.0 and social media are both, means of communication that share the same features implying both are user-friendly and user-empowering and enhance knowledge sharing (Erdogmus and Cicek, 2012). A company can overcome the problems associated with the conventional methods of marketing, by way of adopting social media marketing strategies. Thus the user will be able to efficiently allocate the available resources to improve