Tuesday, January 28, 2020
Theoretical discussion of Nikes labor standards in foreign nations
Theoretical discussion of Nikes labor standards in foreign nations What labor standards regarding safety, working conditions, overtime, and the like, should Nike hold foreign factories to: those prevailing in that country or those prevailing in the United States? The unsuccessfully of labor standards which are child labor, hazardous working conditions, excessive working hours, and poor wages in developing countries are still the major problems. In order to increase company profits, Nike then reduces the cost by having the low labor wages paid. The multinational corporations such as Nike needs to developed code of conduct for their suppliers to make its unidirectional and correctly. The meaning of a code of conduct is the code that provides a guideline of ethical behaviors and values which company uses to follow when faced the problem in a day-to-day work (Locke, 2007). He also states that the code of conduct of Nike requires subcontractors to consider some basic labor, safety standards, and environmental and health. According to Kochan (2007), the codes of conduct do not protect the labor rights or improve working conditions but can limit legal liability and prevent the company reputation only. According to the case, Nike faced the problem of the low labor standards in foreign factories that are the subcontractors. Nike had become a sweatshop symbol of the evils of globalization. The definition of sweatshops is unsafe and unhealthy working conditions including low wages, long hours or work with no overtime pay, health or safety, and child labor (Banfe, 2001). The sweatshops will occur in the factories that have the problems of poor labor standards (Miller, 2006). For example, the company that pays the salaries less than minimum wages and forces employees to work overtime. The sweatshops and low labor standards are the important factors that can impact the economic development (Park-Poaps, 2009). According to Miller (2006), the sweatshops don ¿Ã‚ ½t help low educated workers in the developing countries from poverty due to the fact that people have less alternative choices in choosing a job. A big American company  ¿Ã‚ ½ Nike outsources the foreign factories to manufactu re their athlete shoes. This will caused the United States has the impact on unemployment rate (Greene, 2007). Due to the fact, huge labor markets are needed to satisfy the demand which increasing continuously (Schwartz, 2000). He also states that the requirement of the huge labor markets will cause the talent is become not important. According to Greene (2007), the salaries are set based on the productivity level. No company can pay a labor wage beyond the productivity level. The reason of poor labor standards in terms of minimum wages and hiring child labor caused Nike ¿Ã‚ ½s subcontractors to become a sweatshop. The setting of minimum wages should be cancel to deny the problems of the poor labor standards (Greene, 2007). The statistical analysis found that the anti-sweatshops campaign can increase the unskilled labor wages around twenty percent in the footwear factories (Miller, 2006). Regarding to safety, working conditions, overtime, Nike should hold the conditions with foreign factories which are Indonesia, Vietnam, and China. If Nike persists on prevailing conditions in the United States, there is unessential for Nike to look for outside countries manufacturers. According to Park-Poaps (2009), the research found that the foreign outsourcing firms have impact on the stakeholders and governance structure in terms of the public pressure. Nevertheless, through the pressure that Nike received from many groups of association, the company should find the solution to improve the working conditions or labor standards from the Nike ¿Ã‚ ½s foreign manufacturers. If Nike can enhance its labor standards, Nike will receive benefits from the public relations rather than putting more effort. In addition, Nike can reduce the cost of developing public relation strategies. According to Park-Poaps (2009) in the recent time, the American companies place importance on corporate pu blic relation in order to answer and perform the public response. The enhancement of labor standards in foreign factories could make Nike has good company ¿Ã‚ ½s reputation. To avoid the problems of the sweatshops, the improvement of education and a living wage should be done by the government in each country (Greene, 2007). Moreover, the viable systems of labor conditions should be control and restrict by non-governmental association such as non-governmental organizations (NGOs) (Park-Poaps, 2009). Nike has got a high public pressure from the problem of sweatshop in the foreign subcontractor companies. Therefore, Nike should response to the public by creating the ethical labor management strategies which respect to human rights and also public relation management strategies based on the moral practice (Park-Poaps, 2009). Nike can also establish the codes of ethics in the corporate culture. According to Kantor (2002), the codes of ethic can produce a good effect on corporate social responsibility (CSR). The company that does the corporate social responsibility can create the company reputation in the positive way. Nike should put more effort in decision making when doing business internationally by having the ethical standards in human resource management in supplying company. According to Park-Poaps (2009) the ethical standards of the company can refer to the role of top management that can impact on the company reputations. The managers should present their higher standards as role models to employee in the way they should behave (Kantor, 2002). If Nike practices the better ethical labor standards, the company will receive good corporate image. Moreover, Nike should hold the foreign subcontractors to those prevailing in the United States by having the possible standards in term of working conditions and overtime that protect the basic rights of employees. In the production period, the productivity limitation within a day should not exceed employee strength and also should not hurt the worker ¿Ã‚ ½s health (Schwartz, 2007). Regarding to the Nike case, the company could not meet the satisfaction of stakeholder which is the employees. The problem of employees seems to be the influential concern rather than other stakeholders. According to Schwartz (2000), a good company needs to meet the satisfaction of its stakeholders which are customers, shareholders, and employees. He also argued that if the employees lose their jobs, it is the company mistake. The emphasis of stakeholders especially in employees caused the company has more cost adding (Greene, 2007). He also states that many companies try to avoid the cost of labor by changing the ways in doing business. For example, the automated check-out counter in supermarkets and teller bank machines has been found in the developing world. The cost saving is become a major concern at the present time when the economic problems occur. In addition, the technology changing is also the possible factor to reduce the number of workers. Therefore, the change in technol ogy and the cost saving could be the cause of the unemployment in developed countries such as the United States. These factors lead the big company  ¿Ã‚ ½ Nike needs to use the outsourcing manufacturers in foreign countries to produce their products. According to Locke (2007), the ways Nike response to the public pressure are that all suppliers need to sign the code of conduct and post within the factories. In the code of conduct, it provides the training and the staff to control all of suppliers. In addition, Nike has approximately one thousand mangers working in those foreign factories to responsible for training Nike ¿Ã‚ ½s code of conduct and labor practices. Locke also argued that the new approval process of Nike is the three different types of audit which are a basic environmental, safety and health audit, and a more in-depth management and working conditions audit. However, the codes of conduct of Nike seem to be unsuccessful in some countries which the problems of poor wages and inordinate work hours or harassment (Locke, 2007). Hence, Nike should continue to check and evaluate the foreign subcontractor firms. In another way, Nike can use the trusty auditor firms to inspect the accuracy within those manufacturers. In conclusion, the sweatshops are the major problem of Nike in doing business with foreign subcontractors to manufacturer their products. To eliminate the sweatshops, the related associations or government in those developing countries should come to look after and inspect Nike ¿Ã‚ ½s subcontractors. The needed of the huge labor markets in the real world can create the obstacle in the working conditions such as a low wages paid, no overtime pay, long-time working, and child labor. On the other hand, the education and a living wage are also important factors that need to concern in order to solve the problem of unskilled workers in developing countries. Moreover, Nike should hold the foreign factories to those prevailing in subcontractor countries  ¿Ã‚ ½ Vietnam, Indonesia, and China. To improve the labor standards regarding safety, working conditions, overtime, Nike should practice the ethical standards by concern on the human right and basic needs of employees. The managers shou ld act as the role model on the ethical behavior to make the employees to follow the codes of ethic. In addition, the codes of conduct are important for the Nike foreign manufacturers to follow and practice in the correctly way. If Nike ¿Ã‚ ½s foreign subcontractors can improve the labor standards and working conditions by using the codes of conduct and the codes of ethic, Nike will get the benefit from the public relation in term of company reputation and also avoid public pressure.
Monday, January 20, 2020
Macbeth :: essays research papers
                                                  Macbeth is one of the greatest tragedies of all time. It begins with a prophecy of three Witches. An overanxious nobleman named Macbeth and his wife let greed and envy consume them and end up killing the king. The murder places Macbeth on the throne, which fulfills the earlier prophecy. The play takes a tragic turn and Macbeth is killed, but only after he and his wife both go mad.      Although some people may think Macbeth's plot is aged and unimportant, it still explains a large part of life in today's society. Greed, envy, and hate are all too familiar in the struggle for power even today. The problem with having power is that sometimes the person with the power is not the best person to be in that power. This point is very evident in the characters of Lady Macbeth, the Witches, and Macbeth.      Lady Macbeth is the perfect example of the powers of greed, envy, and hate. Lady Macbeth, like a lot of women today, wants her husband to be manly and prominent. Most women use their influence over their husbands in a subdued fashion. Lady Macbeth is very forward and aggressive about her power over Macbeth, which makes her begin to hate her own husband. Because of this, Macbeth is ashamed of himself and will do anything his wife asks of him. Lady Macbeth's spousal abuse is brought about by her envy of the King's social status and the fact that her husband is not the king. This is a very typical situation in a lot of relationships. Some women tend to abuse their power over their husbands to gain a higher social status or to simply get what they want out of the relationship. Although the abuse is not usually as extreme as                                              Macbeth's case, where murder takes place, it is still very common. The higher social status is also where her greed interferes. Even though she and Macbeth are some of the highest nobles in Scotland, Lady Macbeth is still not satisfied. Even in today's society greed in relationships plays a very major part, mostly in materialistic items such as social status and money.      The three Witches in the play hold the ultimate power over Macbeth. The Witches are seen as the devil, tempting and leading Macbeth into bad situations. If the Witches had never given Macbeth the idea that he would be king, then he never would have killed Duncan or began his steady decline.
Sunday, January 12, 2020
Cyclermate Report
CYCLERMATE COMPANY PERFORMANCE REPORT Word count: 3099 words The INCREDIBLES – FB2A Ngo Mai Anh Hoang My Hanh Dinh Ngoc Huyen Nguyen Hai Ly Nguyen Ha Thu Nguyen Son Tung Content 1. Introduction 2. Liquidity and Capital structure 2. 2. 2. 3. 2. 4. 2. 5. 3. 1. 3. 2. SWOT Analysis Liquidity Matters Capital Structure Matters Short-term options Page 3 4 3. Production Methods SWOT Analysis Short-term Options 8 4. Human Relations 5. Investigation for Lone-term Survival and Profitability 6. Conclusion 7. Reference 8. Appendix 10 12 13 14 15 2|Page 1. Introduction Cyclermate Ltd is a small company producing bicycles in UK. The firm was set up by Lewis Llewellyn and Dai Armstrong, the two close friends in a local cycle touring club. They produce traditional upright cycle, which imitate the 1940’s and 1950’s. In 1990s, the company expanded to meet the demand and they bought a 15,000 square feet warehouse with 2,000 square feet of office accommodation. The high quality hand- made bikes brought them good reputation and maintained high sales though they did not advertise much. However in 2010 the company has trouble as the sales decrease and the demand fell in spite of lower price. Some customers even complained about quality of the product because they got accidents due to front brake. We are a group of consultants and we are preparing this report that will give Cyclermate’s banker an objective view about this company. Although at the moment they are having overdraft and some difficulties in selling products, we are here to make the bank see opportunities of this company and continue investing in it. 3|Page 2. Liquidity and Capital Structure 2. 1. SWOT Analysis ? Strengths ? ? Cyclermate has a long establishment time and reputation in producing traditional bike. The company has asset of a large piece of land worth ? 208,000 (included ? 48,000 of factory and ? 160,000 of unused land). ? Weaknesses ? ? Cyclermate has very few current assets and more non-current asset. This reduces the liquidity of money. There is a great liability that is in the form of bank overdrafts. Costs are rising while price per unit decrease to encourage customers resulting in reduce in revenue. ? Opportunities ? ? A fixed amount of bike is ensured to be sold with Cyclermate’s reputation Sales may increase with environment protection trend There is a chance of getting investment from Dai’s cousin ? ? ? ? Threats Banks do not allow anymore overdraft, thus there is a possibility of bankruptcy With competition from other companies and e-commerce, together with bad reputation from accidents caused by Cyclermate’s bikes. sales may continue to remain low ? Linda Llewellyn – one of three shareholders wants to withdraw money from company business 2. 2. Liquidity Matters The current ratio measures whether or not a firm has enough resources to pay over its debt over the next 12 months. Current ratio is calculated as follow. In this case, current ratio is 1. 85 which means that for every dollar the company owes in the short term it has ? 1. 5 available in assets that can be converted to cash in the short term. Therefore, it can be understood that current liabilities are still in control. However, the ratio is a little bit high so it reflects that the company is not efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capit al management. 4|Page Quick ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. The higher the ratio, the greater the company’s liquidity is. (Quick Assets = Current Assets – Inventory) Here, Cyclermate has a quick ratio of 1. 15 which means Cyclermate has enough quick assets to convert to cash in order to pay current liabilities if necessary. Cash ratio measures a company’s ability to immediately use cash to pay its current debts This ratio indicates that this company does not have much cash in hand and naturally it cannot pay bank overdraft right away by cash. Generally, Cyclermate’s current liabilities are still in control with the liquidity of its current assets. However, with limited cash in hand, other current assets are needed to increase liquidity in to ensure the ability to pay debts in urgent circumstances. . 3. Capital Structure Matters Capital structure is the way a company combines between Equity and Liabilities in order to optimize financial sources. The effectiveness of a company’s capital structure is often analyzed through debt-to-equity (D/E) ratio. Here, Cyclermate’s D/E ratio is estimated 1. 976. It means that with eac h ? 1 of Equity, there is ? 1. 976 of Liabilities. In other words, at the moment, the ability to pay debt of Cyclermate is over the ability of payment for shareholder’s fund. To resolve the problems or to reduce the ratio, there are two main trends: decrease Liabilities and/or increase Equity. In the short term, it is very difficult to raise shareholder’s fund as it takes time to persuade individuals and organizations to invest in a small company who is in the verge of bankruptcy. Even when there is a possibility that Dai’s cousin will invest to Cyclermate, long time will be needed to complete legal policies and internal matters. Thus, in short-term, it is more rational to focus on minimizing Liabilities. Therefore, problems of capital structure in short-term turns out to be the same matters with liquidity, which is: how to increase cash in company account to pay bank overdraft and other liabilities. |Page 2. 4. Short-term Options To deal with the difficulties of Cyclermate Ltd in liquidity as well as capital structure, we firstly take into account about the company assets that can be quickly converted to cash in case bank asks for paying back overdraft. The assets are chosen includes company’s free hold land and trade debtors. Looking at this companyà ¢â‚¬â„¢s financial strengths, it is easy to recognize its very huge freehold land which is worth ? 160,000. However, this value has been recorded with historical price in the purchase time – by the end of 1990. Thus, we calculate the current price of the land in December 2011 is about ? 269,160. 4 (if the price in 1990 was 100%, the inflation rate made the average price in December 2011 reach up to 168. 244%). As a result, if we convert immediately the freehold land, the money gained is enough to pay all ? 264,864 current liabilities (including ? 177,364 of bank overdraft and ? 87,500 of trade creditors). In addition, the company has a small scale; therefore; we do not have to concern so far about expanding factory area. In addition, this company has ? 00,571 at trade debtors that represents the amounts own by cycle shops and this amount of money can cover the bank overdraft. Though Cyclermate could not take back all the trade debtors, they should take back as much as they can. Then, we consider about plans to increase profit or to decrease cost for Cyclermate in short-time with the purpose to raise the company’s fund: The draft budget for 2010/11 points out that Cyclermate has poten tial to have budgeted trading loss with only 950 and 1300 bikes sold through direct mail order and cycle shop in turns. In the first stage, we calculate the amount of bikes to reach BEP (break-even point) with assumption of the same price, same cost and same proportion of two types. In the calculation: Q*: Break-even point Fixed cost = Indirect cost Price per unit = Average price per unit = Total sales / Total bike quantity (of both 2 types of bike) Variable cost = Direct cost per unit ? Q* (estimated) = 2,753 bikes 6|Page Thus, to reach BEP Cyclermate needs to sell 503 more bikes (including about 212 bikes through direct mail order and 291 bikes through cycle shop). In fact, how to sell 503 more bikes is a difficult matter. As a result, we decide to suggest lowering direct cost in each bike by reducing parts namely lamps, lock, basket, dynamo and brake front (replace by brake front without dynamo). The reasons will be explained in detail in next part about Production. By doing this, each bike saves about ? 31. 09 for direct material / variable cost. We calculate BEP again with the new variable cost and find out Q* = 2310 bikes which means Cyclermate only needs to sell more 60 bikes (25 bikes through direct mail order and 36 bikes through cycle shop). Consequently, the cost cutting method can help increase profitability. Moreover, there are some employees want to retire or cannot work anymore like Lewis Llewellyn or Idris Pugh. If Cyclermate accepts to let them free (the plan will be explained in Human Relations part), they will have a new budget of ? 67,534 per year. This budget is not only enough to employ new staffs to vacant positions, but also can save an amount of salary for the company. 7|Page 3. Production Methods 3. 1. SWOT Analysis ? Strengths: ? The cycles made by the company are â€Å"retro†styles and totally hand-made with high-standard which have high demand from the market ? The whole process is divided clearly into stages which are responsible by specialized people at each specific stage ? Weaknesses: ? ? ? ? Faults is continuously appearing and reduces the quality of the product The recent painting method causes some quality problems to a number of fames. Moreover, the highly toxic paint materials is ruining the compressor and extraction equipment There are some components that are not necessary make the cost to produce a cycle quite high There are some employees’ issues that invisibly affects the production and reduces the productivity ? Opportunities: ? The new materials and technologies that Dai’s relative provides is a great opportunity to develop the product The firm has commissioned a cycle shop in Cardiff to build the wheels for it with reasonable quality and are always delivered quickly 3. 2. Short-term Options First of all, it is good that the company have specialized people responsible for each specific stage. This is because on e of the most important facets of job specialization is its potential to increase worker productivity and output. However, in the current arrangement, there are still some clashes of tasks between people. Therefore, it is necessary that tasks are assigned specifically to employees. Secondly, after the interview, it is clearly that faults causes mainly by the painting method and Janice’s mistakes as she has to work quickly and late. In short term, it is too difficult to upgrade the painting method to fix the paint quality problems so reducing the number of fames painted each day to focus on the quality should be concerned since demand for the period continues to fall. The company also should prioritize assembly to guarantee that every product is tested carefully before reaching customers. Beside the problems mentioned above, there are some employees’ issues that also need to be concerned about such as Idris Pugh who is responsible for wheels, mudguards, chain guards, stays and other hardware is really old and often absent because of his heath. Fortunately, the company has already 8|Page commissioned a cycle shop in Cardiff to do the job with reasonable quality and is always delivered quickly. The direct cost is somewhat higher than the materials and components used by Idris, but the company can reduce the cost of paying salary for Idris. Since the cost is rising significantly, it is highly recommended that some component which does not add any value to the product should be eliminated. In addition, whether something adds to the value of the product or not are determined by customers rather than by the company. For instance, an example of something a customer would consider being waste: redundant accessories. Customers obviously do not want to pay for it, so the company can reduce costs by eliminating it as much as possible. In this situation, the company could reduce costs by removing lock, basket, and lamp and replace the brake with dynamo with a normal brake. The company also should rearrange the warehouse to reduce the wastes causes by moving between places, searching things and so on, because the process looks to be somewhat shambolic. The warehouse should be rearranged. (Refer to appendix) 9|Page 4. Human Relations Human relation is the way people interact and behave toward each other, human relation plays important role in business. Each organization or business tries to find out the effective ways that build up a good relationship in firm and maintaining it. Taking the time to think strategically about how the people in your business are managed will help you avoid potential problems. After interviewing with people in the company and reviewing their work, we realized that the clash of work did not only slow down the process but also create conflicts between members. Since each job is not done or supervised by one specific person, it is hard to keep track of the responsibilities when errors occur. To make ourselves clear when suggesting specialization, we will now name the specific jobs for each person in the company. Dai Armstrong is enthusiastic both about the company and about its future, he gave a number of ideas about possible directions, however he has too much work such as paperwork, doing fame. As a director, his task is about external relation but he only works in the factory. To develop their company, he needs to go out and work with the distributors. Another shareholder, Lewis Llewellyn, is less optimistic than Mr. Armstrong about company’s future. He also shows that he is keen on retiring. Since he does not desire with work, company should let him retire. The third shareholder in the board of director is Mr. Lewis’ wife. After divorcing with Mr. Lewis, she wants one third value of the business. To deal with this difficult problem the company should negotiate with Lewis’s ex-wife, either by continue giving her her dividend or persuade her to take her investment back only according to inflation rate. In production team, Mr. Maldwyn Jones thinks that his manager undervalues his skills and he is thinking about leaving due to this. To improve as well as motivate him, the company should let him replace Lewis in manager board in the business manager position while Mr. Armstrong works on external relations. At the same time, Mr. Maldwyn should still continue his painting job while helping Dai with management. Mr. Emlyn Morgan has many ideas about how to improve production and his wife thinks that he is undervalued by the managers. Like Mr. Maldwyn, to motivate him to work his best, he should be promoted to the overall production managers, overseeing all the works happens in the factory and assist the young workers as they have questions. 10 | P a g e Although Idris Pugh is a wheelwright perfectionist and his products never gets complaints, he is not not healthy enough to work regularly. We think that the best solution is to let him retire and recruit a new skillful worker to replace him. Janice and Ffred are two young assemblers. Janice likes her job but sometimes she feels pressure because she has to work overtime. However, because the sales have decreased and there are a lot of bikes left therefore she will not have to work overtime for a while. Ffred is young and in experience so he often makes mistake. Now, with the supervising of Emlyn Morgan, he will able to avoid faults. Packing is a step that is taken by anyone who has time. We think that factory should have an employee who is specialized in this task. Ianto Prichard is an odd-job man and cleaner in the factory. We decide to promote him to be in charge of this task since he is used to the work in the firm. He can do his job every weekday morning and for certain his salary will be higher. Glady Wells, who cleans the office twice a week, can clean both office and factory now twice a week and he will be paid more. 11 | P a g e 5. Investigation for Lone-term Survival and Profitability Political ? From 1990s, UK government and campaign group have tried to promote cycling as a good alternative choice for car and a good way to improve health ? 12,000 miles of the National Cycle Network is build which are equivalent to 200% of the network expansion ? London is the host of Olympic 2012 with the commitment to encourage people to participate more in sports activities like cycling Economic ? UK has recovered from economic crisis thus customers would have more budget ? Fuel costs is rising, therefore many people are switching from car to bicycle ? Growing online sales of bicycle products Social ? UK people are more aware of health and environment benefits from riding bicycle, especially in avoiding absenteeism ? More events organized to encourage people participation in cycling ? Traditional bike has been in favor of customers Technology Law Environment ? New types of bike has been launched to the market ? Laws encourage people to choose bicycle (e. g: protecting cyclists against car drivers in an accident or having preferential traffic signals) ? Environment protection campaigns promote and make people aware of advantages of riding bicycles in reducing emissions One company is a successful company if it has a good management team. Cyclermate Ltd really needs a good director who has clear vision about the company’s future and he must know exactly how to run this company. By looking at the PESTEL analysis above, we think that Dai Amstrong still see a great potential in this industry, thus he keep being so optimistic about it. He now must reorganize the company’s structure to make it work more efficiently. In addition, the director should pay attention to financial management. It plays an important role in the survival of the company. According to Mr Jones, the company had not advertised its products in the national press for some years now, we would have to advertise more on media. Besides, he mentioned an alternative route to increased sales that is trying to build up the direct sales to have the maximum benefit. We can sell the products online through Internet which is a helpful tool for saving advertising cost. Furthermore, the directors also should pay attention to the demands of customers to know exactly what they want so that its products could meet the needs of customers. The other firms in the same market were increasing their sales of â€Å"traditional†machines; therefore; we could think about the new technologies to develop new products. Mr Owen – Dai’s cousin had some expertise in new technologies and he was willing to help. The profitability of the company might be ensured if all the options are applied. Besides, we can apply some campaigns such as saving energy that helps reduce the heating, lighting and power cost. 12 | P a g e 6. Conclusion To conclude, the main problems in Cyclermate are the low liquidity of their asset, and problems in managing human resources. We believe that with the suggested solution, Cyclermate will be in a safer and more successful position than they are now. Through this report, the bank has a clearer view of where Cyclermate is standing in its development. With the resources and potential they have in hand, it is such a waste if they do not get further loan to continue developing. We also want to point out that with this uch potential, Cyclermate may even appear to be a very good candidate for loan, as they can expand their market not only local-wide but world-wide. 13 | P a g e 7. Reference 1. TIMOTHY S. HATTEN (200), Accounting Records and Financial Statements. In: Small Business Management: Entrepreneurship and Beyond. 4th ed. South-Western: Cengage Learning, pp. 202-234 2. The British Cycling Economy [Online] http://corporate. sky. com/documents/pdf/publications/the_british_cycling_economy. htm 3. Gregory Hamel. January 07, 2011. The advantages of Job Specialization. [Online]. Avaiable: http://www. ehow. com/info_7743130_advantages-job-specialization. html. [December 10, 2011] 4. David Anderson. October 2006. 5S Manufacturing: What Is It?. [Online]. Available: http://www. todaysfacilitymanager. com/tfm_06_10_profdev. php. [December 10, 2011]. 5. Steve Jonathan. March 14, 2011. The advantages of 5S. [Online]. Avaiable: http://www. ehow. com/info_8061038_advantages-5s. html. [December 10, 2011] 6. LeanMan. 2010. Increase The Profit through waste reduction. [Online]. Avaiable: http://leanman. hubpages. om/hub/Increase-Profit-through-waste-reduction. [December 10, 2011] 14 | P a g e 8. Appendix Sales Direct mail order Cycle shop Budgeted total revenue Direct materials Indirect costs Total Costs Budgeted trading loss Interest Payable Possible tax loss recovery Shareholders’ Funds 846,118 (916,312) 446,580 1,292,698 (1,362,892) 29,602 (-40,592) (36,000) 35,000 28,602 units 1067 1370 Price ? 700 420 Revenue 7 46,900 575,400 1,322,300 Table 1: Draft budget – 2010/11 after selling more cycles (Number in red is the old record) Picture 1 Rearrangement of Warehouse 15 | P a g e
Friday, January 3, 2020
Values - 1416 Words
The importance of values can not be overstated, they shape our intrinsic motivation (Kollmuss, Agyeman, 2002, p.251). The significance of looking at values allows us to see the inter-workings behind peoples actions. Too often society sees the natural environment as something available for our use, a set of resources to be consumed(Cohen, 2006, p.13). Our system of values causes great environmental destruction, only a change in the priority of our values will allow us to counter this trend. Our western values and American values in particular are very inward looking as a country and individually. People are naturally concerned with what is immediately in front of them. They put their family above their community, their community†¦show more content†¦It could be stated that in this sense we are a victim of our own success in terms of environmental education. More education is needed to provide for a more holistic view of the environmental impact to the larger world. Part of NIMBY is a result of the value of individualism. People showing a lack of empathy for collective good. This can be best viewed with the â€Å"tragedy of the commons,†when people hold their own self interest above that of the collective interest of the group. In other contexts the â€Å"tragedy of the commons†leads to an over use or depletion of a given resource to the detriment of all. With careful managing of that resource its benefits can be sustained. This management is essential to prevent people from acting in their own self interest. Self interested ties into the free use of private property. Steven Cohens case study of the Love Canal looks at the storage of toxic waste on private property. It is an issue of dont tell me what to do, I can do what I want on my property. The concept of private property, privacy, and individual freedom are deeply embedded in American culture (Cohen, 2006, p.83). 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What impact do personal values have in the workplace and on workplace performance? This paper will address these issues from a personal perspective. Personal Values What are personal values? FirstRead MoreValue Alignment990 Words  | 4 PagesRunning Head: VALUE ALIGNMENT Value Alignment Value Alignment Ethics and corporate values play a significant role in an organization and are both imperative to success. To attain a successful alignment between individual and corporate values, there needs to be a synergy between the employee and the organization he or she work for. The benefits contain significant value to both the organization and the employee. Established in 1898 as Brad s Drink, PepsiCo has grown substantiallyRead MoreFilipino Values1493 Words  | 6 PagesPhilippine Values Values are defined in a number of ways. Maciones (1997) defines it as the â€Å"beliefs, behavior and material objects that constitute a people’s way of life.†He also defined it as standards in a culture by which people make an assessment as to its desirability, goodness and beauty. Values may be helpful as Guidelines. Schaefer (2001) defines values a little more as â€Å"collective conceptions of what is considered good, desirable, and proper – or bad, undesirable, and improper – inRead MoreValue and Integrity1301 Words  | 6 Pagesor artistic values: incorruptibility; the quality or state of being complete or undivided. Although this is correct this isn’t exactly the complete meaning of this word. For every situation, every job, and every position this word â€Å"integrity†is defined differently. The position at which I am applying for is an Administrative Assistant, with this comes great responsibility, handling and having access to sensitive information any candidate must possess some level of morals and values. In my previousRead MoreThe Moral Value Of Moral Values1001 Words  | 5 PagesThe claim that moral values cannot be derived from facts is grounded in the idea that facts are descriptive and informative, whereas value propositions are prescriptive a nd imply that we ought to carry out certain action or act in a particular way. In essence, while facts give us information about the world itself, values tell us how we should act. It is accepted that facts are cognitive and are therefore know to be true or false. However, non-cognitivists support the idea that moral truths cannotRead MoreIntrinsic Value And Extrinsic Value Essay1330 Words  | 6 Pagesproperties, and acts contain values. They would fall into three categories of value: intrinsic value, extrinsic value, and both intrinsic and extrinsic value. Things containing intrinsic value means people value those things with intrinsic value for its own reason (Zimmerman). In contrast, things containing extrinsic value means the value of these things are depending on other things but not by itself. This is the basic difference between intrinsic value and extrinsic value. In addition, knowledge isRead MoreShared Values1926 Words  | 8 PagesBusiness Policy Assignment: †Å"Creating Shared Value†CITIBANK amp; HSBC 9/26/2013 D Siddhartha Reddy-014 PGDM-Finance Executive Summary How to reinvent capitalism and unleash a wave of innovation and growth by Michael Porter and Mark Kramer Shared Value is a new form of capitalism. The idea of shared value was initially explored by the authors in December 2006 HBR. Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic successRead MoreValues. Value Is Defined As Something That Has Moral Worth.1146 Words  | 5 PagesValues Value is defined as something that has moral worth. These values determine ones priorities and are fundamentally the things that one believes and stands for in life. Throughout my life, I have met people and experienced a plethora of situations that have shaped who I am today. I value many things in my life, however, it can be easily forgotten due to the privileges and securities of all the things I am blessed with. I place value on things that I believe benefit my life and the people around
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