...The past eight years have been difficult for the Baldwin company. A few costly mistakes in the early years have plagued the company and overshadowed what might have otherwise been a successful transition through one of the most unstable periods in the industry’s history. The most costly mistakes included a lack of investment in sales, underutilizing assests, and the failure to roll out a new product in a timely manner. Under production in the early years disguised the damage caused by the lack of investment in sales. The first year saw the company sell nearly all production and end the year with satisfactory inventroy levels, but Baldwin simultaniously lost 20% of its market share that same year. Market share continued to drop in the first few years and it wasn’t until the fourth year that the company invested heavily in sales and began to increase market share. The failure to roll out the new product on time was perhaps the most devistating blow to Baldwin as this was a simple matter of miscommunication. A simple clerical mistake with the product improvement schedule pushed back the revision date for the new bing product that cost the company an estimated $5 million in idel plant capacity, marketing dollars, and reposition costs. The stock market and the S&P rating punished the company for these early mistakes. It became costly for the company to raise capital, and the company fell behind in their ability to produce at a competitive cost relative to the competition...
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...how the plan would work, and know what to expect once complete. Planning would consist of thinking about what the change is at its present stage and what the managers want at the end of the process. There is a need for some thought on objectives that may occur during the process of the change so that it will not slow up the progress. Thinking ahead of what to expect, how to do it, materials, time, and the cost, are thought through. When changes are thought through at the organization it is a long process with what the managers want and need in a change. The managers will monitor the areas to see that the intensions of the work are coming to a completion. The managers would not rush to start on the change knowing this may cause mistakes or find that some area of the process was not thought through. Organization would start with the resources to help with the decisions to work on the changes and the goals. Making sure that every worker will know...
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...to others. In business, communication is very important. If people misunderstand others meanings, it may cause some mistakes. Because they don't have good communication, people will not do what is expected of them from others. If people don't understand other people’s meaning, they might do the wrong thing in the end. People can send messages to communicate and talk more. If your boss gives you a project to do. He will explain what is expected to be included in that project, but you may not understand what your boss wants. You may also send an email to ask your boss to clarify any misunderstandings on how to complete the project. By communicating, it can avoid some costly mistakes when finishing up the project. If people have different cultures, people may do something that is not respectful to other people. Because every culture has different styles, some people won't know how other cultures conduct relationships if they don't study it. To avoid this problem, people need to communicate to each group member. Communication can make people more understanding of each other, so they won't do something that is rude to others. Even though people have different cultures, they can learn to understand each other by communicating. Communication can make people understand one another, so they won't do the wrong thing and avoid costly mistakes. Also, in our society and the work place, communication is very important. It makes the distance closer between each...
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...Communication Opinion Paper Brenda Wymer HCS320 March 4, 2013 Mr. Albert Gale Communication Opinion Paper Communication in a health care setting is extremely important for doctors and patients to express and understand one another in order for the patient to receive the proper care and treatment that he or she need to feel better. Communication is also vital among the physicians, nurses, clinicians, and insurance companies to avoid any errors that can cause devastating and costly consequences. Providing the best care for the patient is the most important job a clinician has and communication is the key to making this possible. Effective communication needs to incorporate the basic elements of communication because in health care there has to be a communicator, receiver, message, channel, and feedback in order for communication to be successful and free from errors. Doctors, patients, clinicians, and insurance companies need to have excellent communication among them to provide the best care possible. An example of the basic elements of communication in a health care setting would be the communicator or patient letting the doctor know what it is that he or she is feeling. The receiver would be the doctor to whom the message is directed to. The message is the subject matter which the patient is conveying to the doctor letting him know that they are sick and what he or she are feeling. The channel is the means of communication, which is verbal, and this is how...
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...Medical Billing and Reimbursement Grand Canyon University: HCA-530-0101 July 14, 2015 Healthcare organizations’ services provided are civic and moral in nature. These services are directly impacting a society and community’s ability to function and be productive. One might say, healthcare organizations must always prioritize the moral objective or vision at all times, however, in order for healthcare organizations to continue providing access to healthcare, these organizations must be financially sound. Revenue stream is one area that initiates an organizations ability or inability to thrive. Billing accurately and timely for these services will ensure revenues are collected avoiding delay in providing healthcare to the community. According to Cleverley, Song, & Cleverley, 2011, p. 14), “Healthcare firms are for the most part business-oriented organizations. Their ultimate financial survival depends on a consistent and recurring flow of funds from the services they provide to patients. Without an adequate stream of revenue these firms would be forced to cease operations”. A critical role in ensuring that there is an adequate stream of revenue in a healthcare organization is the medical coder/biller. This role is tasked to start, process and file a claim to a patient’s insurance (private or government) for reimbursement. These claims are the lifeline of an organization’s revenues and must be process correctly to ensure all services provided will be paid. There are seemingly...
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...Finding facts on history would include as only a fraction of it has actually been documented, it’s also important to consider the reliable source in which the information was obtained. We leave the facts up to archaeology and historians to write what may or may not have happened. Can we trust the experts to give the actual facts to something that may or may not have happen so long ago? With history based on the victors it really does not portray both sides equally. It’s important to portray both sides of a pivotal confrontation to understand the actual facts of what happened. The losing side of history is just as equal to our understanding of history as the victors’ sides. Knowing all the aspects of both sides helps us learn from mistakes whether it was a win or lose battle. With any situation the more information you retrieve, the better it is for us to understand what may have happened and to possibly avoid another event from happening again. Wars between victors and losers’ are not solely base on who wins. Wars between people, countries or states influence our culture, religious beliefs and civilization. It also can introduce new weapons, strategic tactics and introduce leaders who can create a wide path...
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...selection, savings, satisfaction). “It was because of this consistency that Circuit City took off in the early 1980’s and beat the general stock market by more than 18 times during the next 15 years” (Collins, 2001). The slowly declining economy, housing market, limited available credit, unemployment rates, and increased competition compounded and accelerated the repercussions of the pre-existing problems that Circuit City faced started years before. Internally, Circuit City was already suffering from several years of declining sales. The Circuit City organization “made fatal mistakes which resulted in one of the most significant business failures in retail history. These mistakes undermined their own progress and ultimately killed them” (Eames, 2009 ). Today, many business leaders use this once thriving organization as a guideline to understand, analyze, and highlight how to avoid these mistakes and failures in their companies . After many years of being one of the electronics industry top players, the organizations leaders and management became complacent and arrogant in their market share position. They refused to believe that a smaller company can challenge them. This allowed...
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...1. Draw a system diagram showing the product and information flows between WGD and FastFit, starting with FastFit placement of an order through when it makes payment for goods received. 2. Receive sa an order 2. Receive sa an order 1. Makes an order 1. Makes an order WGD WGD 3. Sends FastFit an invoice for the order 3. Sends FastFit an invoice for the order FastFit FastFit 4. Sends order details( finalized shipping information) 4. Sends order details( finalized shipping information) 5. Ships the item 5. Ships the item 6. Receives Product 6. Receives Product 7. Eventually pays WGD for the product( Normally pays for multiple orders at once) 7. Eventually pays WGD for the product( Normally pays for multiple orders at once) 8. Accounting department: Collect payments 8. Accounting department: Collect payments 9. Ask for return for some product 9. Ask for return for some product 10. Come into agreement and pay back the return 10. Come into agreement and pay back the return 2. Complete a more detailed diagram that has five distinct processes, two for FastFit (Headquarters and the Warehouse) and three for WGD’s three departments. This diagram should also include the database associated with each WGD department using the cylinder symbol, there are three of these. Now fill in the flows from Q1 above. Then diagram all the flows of information that occur within FastFit and within WGD to support the processing of the order...
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...prosperous, sustainable business? 2. Business is not just about making money – it’s also about people, and about making a positive contribution to the community-at-large. Now more than ever, MBA programs incorporate some type of Business Ethics education into the curriculum. Why? Because incidents like the Enron Scandal of years ago, and the risky investments that led to the current financial catastrophe, are forcing business leaders to be more vigilant about Corporate Social Responsibility. And I think that’s a good thing. 3. Waste and mistakes cost businesses 20-30 percent of their revenue. You will learn this in the Six Sigma portion of an Operations Management class. It’s important to understand how costly error can be, so you know how to best minimize it. You need to know how to take successful manufacturing practices and apply them to the organizational structure of a business, streamlining processes and thus, keeping costly mistakes to a minimum! 4. Leadership is different from management. Managers think incrementally, making sure a project or team goes from Step 1 to Step 2 to Step 3. Leaders think radically and find ways to jump from Step 1 to Step 4. In business school, you evaluate so many different...
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...of the organization responsible. Or the effort may be episodic and organized in an ad hoc manner. Analyze data for planning purposes. Simply gathering the environmental data is insufficient. It is also necessary for you to interpret the data correctly and make it useful for planning and decision making. What is it good for? Take advantage of opportunities. Environmental scanning can help capitalize on emerging opportunities. It can be an important part of strategic planning by helping you shape strategy to better fit emerging conditions. When asked his hockey strategy, Wayne Gretsky is reported to have said, "I just skate to where the puck is going to be." Anticipate developments to avoid costly mistakes. Scanning also helps avoid costly...
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...facilities. At the present time with the market becoming more diverse there is a consistent need for innovation and DIY Consultant will accept that the market as heterogeneous and will not look at one form of segmentation separately. That’s why we will serve novice and regular DIYers. Because, not only regular DIYers, but also new homeowners or novice DIYers often plow ahead into unchartered waters and end up costing themselves time, money and frustration. Additionally, DIY consultants will offer additional expertise and advice to those homeowners who are already regular DIYers but may need assistance with a larger than normal project or who may simply need a refresher before they begin a particular home improvement project to avoid costly mistakes, and grow the company’s pool of DIY customers at the same time. Personal Knowledge One of the primary problems with inexperienced DIYer is that they fail...
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...dross has been passed down in a grown bureaucracy, where people lost their innovation and structure is messy. The new chief executive of Ford Motor Co., Alan R. Mulally was taking a culture revolution in this giant machine in order to pull it out of the deep mud. Organization values • Pioneered modern management techniques Period 1: Ford is the birthplace of the assembly line and home of the celebrated Whiz Kids, which highly increase the efficiency in the production and copied by the other companies. Period 2: After 1960s, Ford fell into a reverse way and has degenerated into a symbol of inefficiency. Right now, it has four parallel operating units and the company has more than 30 engineering platforms worldwide, each with its own costly bureaucracy, factories, and product development staff. Period 3: Mulally took a big step and would like to reduce the level of complexity. He wants to get that number down to five or six platforms, similar to Honda. More importantly, Ford tries to eliminate all of its unnecessary duplication. • Cooperation and efficiency Period 1: After assembly line been introduced to the world, Ford impressed all of their competitors by their highly cooperated work and their efficiency, employees worked together and impede the flaws passing to the next connection. Until the mid-'60s, Ford was considered a management shrine. Period 2: The bureaucracy at Ford grew, and managers took refuge in the structure when things got tough rather than innovate...
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...within or outside management involves the process of planning, organizing, leading and controlling. Now the key element here is the controlling part. Without evaluating performance after completing the first three stages you wouldn't know if all the efforts were worth it and you wouldn't know either if the goals were achieved. The controlling stage will help to know if any mistakes were made, and the corrections that are needed in order to improve performance. Since problems can occur at any time during a process, it is important to have a few different ways to manage issues. These ways are feedforward control, concurrent control and feedback control. Feedforward Control involve identifying, anticipating and preventing problems in an organization before they occur. This type of control is the most desirable type of control and the most helpful to managers because they allow a manager to plan ahead and prevent threats and issues that may affect the overall performance of the organization. There are only two negative aspects about feedforward control, and this is that this type of control can be costly and can slow down the planning process since they have to stop planning in order to seek hidden problems. Other than that, this is the best control from the three...
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...Big Blunders from Big Business Mistakes in Multinational Marketing (Irwin series in marketing) By David A. Ricks: http://aib.msu.edu/fellow.asp?FellowID=46 International marketing can be a tricky business. With the increase in global trade, international companies cannot afford to make costly advertising mistakes if they want to be competitive and profitable. Understanding the language and culture of target markets in foreign countries is one of the keys to successful international marketing. Too many companies, however, have jumped into foreign markets with embarrassing results. Out of their blunders, a whole new industry of translation services has emerged. Faulty translations The value of understanding the language of a country cannot he overestimated. Translation mistakes are at the heart of many blunders in international advertising. Since a language is more than the sum of its words, a literal, word-by-word dictionary translation seldom works. The following examples prove this point. Otis Engineering Company once displayed a poster at a trade show in Moscow that turned heads. Due to a poor translation of its message, the sign boasted that the firm’s equipment was great for improving a person’s sex life. The Parker Pen Company suffered an embarrassing moment when it realized that a faulty translation of one of its ads into Spanish resulted in a promise to “help prevent unwanted pregnancies”. Automobile manufacturers in the United States have...
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...real time. Each truck is connected to the system through the real time access. Keeping these systems up to date will increase the speed of delivery and information. Each truck is equipped with a GPS system that is connected to the hub. Each hub has specific information, on all trucks and freight. This way the company knows which trucks are carrying which freight and going to which destination. Without exact locations of each truck, shipments can get lost or misplaced. Without this information system, the company could get back logged and need to sort out everything. This is very important to keep the costs down. The company would have to conduct a manual search and and therefore end up being more costly. They would have to contact each driver and go...
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