...Individual: Communication Paper Suzanne Beal BCOM/230 October 08, 2012 Hank Parisi First I want to take this opportunity to welcome you to ABC Accounting, Inc. I am very confident that you will follow in my footsteps to lead this team to success. I want to take this time and give you a few words of wisdom that I have acquired through the years to help you make this transition go as smoothly as possible. Your main responsibility here at ABC Accounting is to maintain a cohesive working team. One of the more challenging responsibilities will be introducing new employees to the team members. Here are some of the barriers that you could encounter and some suggestions for some possible solutions. One of the most common barriers that you will come across is what I call the no it all’s. On occasion you have someone join the team who thinks they have the answers to everything. You need to be careful with this because you do not want to deter them from sharing their thoughts neither do you want them to steal the show. Always allow them the chance to give their input because sometimes their ideas are a welcomed change. Another barrier that you may come across is personality clashes. This can be tricky because you do not want to look as though you are taking sides so give each person a chance to speak and see if you can work out the differences together. You may also encounter those who are reserved and just listen without giving input...
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...Lehigh Steel Harvard Business School Case: 9-198-085 Instructor Prof. K. M. Padmanabhan 12/16/2011 Submitted By Section E, Group 8 Aravind Ganesan 2011PGP448 Gadkhel Rohit 2011PGP629 Gokulnath R 2011PGP638 Kartik Shrivastava 2011PGP685 Sumit Prakash 2011PGP907 Upasana Mukherjee 2011PGP922 Vemb V 2011PGP932 The task is to evaluate the best costing alternative for Lehigh steel. For this, an improvised costing system is developed which overcomes the assumptions of ABC and TOC costing and the optimum product mix for Lehigh Steel is calculated using the same Executive Summary Lehigh Steel is a manufacturer of speciality steels for high strength, high use applications. Its financial performance has generally trended wit but outperformed the industry as a whole. Following the general recessionary trend of the market, Lehigh Steel reported record losses in 1991 after posting record profits in 1988. This had led to an increasing need to rationalizing Lehigh Steel‟s product mix. Traditionally, Lehigh Steel has followed Standard Cost Method for cost accounting. Jack Clark, CFO of Lehigh Steel has given Bob Hall the task of implementing Activity Based Costing at Lehigh Steel. Mark Edwards, Director of Operations and MIS explored the implementation of Theory of Constrains (TOC) accounting for Lehigh Steel. The task is to evaluate the best costing alternative for Lehigh steel. For this, an improvised costing system is developed which overcomes the...
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...RAIN SENSING WIPERS INTRODUCTION Background Windshield wipers are used to clean the windshield of a car so that the driver has an unobstructed view of the road. A typical wipe angle for a passenger car is about 67 degrees. The blades are 12-30 in (30-76 cm) long with lengths increasing in 2-in (5-cm) increments. History The history of the windshield wiper began with the invention of the automobile. Most transportation vehicles did not have wipers. Horse-drawn carriages and trucks moved at slow speeds, and glass was not needed to protect the driver or passengers or to act as a windbreak. The first windshield wipers were brushes. Inventor J. H. Apjohn came up with a method of moving two brushes up and down on a vertical plate glass windshield in 1903. In the same year, Mary Anderson devised a swinging arm that swept rain off the windshield when the driver moved a lever located inside the car. Anderson patented her invention of the mechanical windshield wiper in 1905, and it became standard equipment by 1913. Electric motors were not used yet to power automobile essentials or accessories, and Anderson's device had a drawback. Without another power source, a driver had to use one hand to move the lever. The driver's other hand steered the car (with either a wheel or steering tiller) and worked the stick-mounted gear shift and brake grips standing on the floor of the car or outside the driver's side on the running board. Rubber strips replaced brushes as the cleaning tools...
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...CHAPTER 4 ° SOCIAL AND CULTURAL ENVIRONMENTS 114B CASE 4-2 Disney Learns to "Act Local" on the Global Stage The Walt Disney Company, home to Mickey Mouse, Donald Duck, and other iconic characters, has a stellar reputation in many parts of the world for its family-friendly entertainment offerings. The company's parks and resorts division operates theme parks in five global locations, including a recent $1.8 billion park in Hong Kong. Disney's fabled studio entertainment unit has an illustrious history in both animation and live-action features. The Lion King, released in 1994, is the highest grossing animated film of all time. More recently, Disney has enjoyed massive hits with live-action features. These include Pirates of the Caribbean and its sequels as well as classic American fare such as the TV show High School Musical. However, despite high worldwide awareness levels of the Disney brand, as of 2006 only 25 percent of the company's revenues came from outside the United States. Historically, the Disney team has created products at its headquarters in Burbank, California, and then exported them to the rest of the world. Now, as the company targets China, India, South Korea, and other emerging markets, it is departing from its "one size fits all" approach. One factor driving the strategy change: the first-year visitor count in Hong Kong fell short of the target figure of 5.6 million people. This prompted company executives to step up efforts to educate the Chinese about...
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...Walt Disney Case Analysis Corporate Strategy The Disney brand is extremely well known, but most may not realize how diversified the company actually is. The company is made up of media networks, theme parks and resorts, studio entertainment, consumer products, and interactive media. Walt Disney Company’s corporate strategy involves three aspects; creating high-quality family content, exploiting technological innovations to make entertainment experiences more memorable, and internal expansion. Disney wants the whole family to be involved. Much of their success is due to targeting not just children, but the entire family. The movies and shows they release are done with family in mind. Theme parks and resorts, Disney Cruises, live performances and interactive media are all aimed at creating high quality family content. Disney acquired Pixar, Marvel, and Playdom in order to satisfy their second corporate strategy. The acquisition of Marvel and Pixar was intended to enhance Disney’s animation abilities to make experiences more memorable. Playdom gave the company new online gaming capacities that Disney hoped would help to improve its struggling interactive media division. UTV was acquired to facilitate its international expansion efforts. Disney’s international expansion strategy mainly focused on opportunities in emerging overseas markets. As of 2012 The Disney Channel was available in more than 100 countries and reached 75 percent of viewers in China and Russia. This was...
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...Papers Home Page » Business and Management Steel Industries of Bangladesh In: Business and Management Steel Industries of Bangladesh STEEL INDUSTRIES OF BANGLADESH REPORT ON FOCUS The report “Bangladesh on its way of becoming self sufficient in rod production, export is also a possibility” by Shuvankar karmakar, that was analyzed here, was published in the Daily Prothom Alo, on 17th November, 2012. BACKGROUND Bangladesh Steel industry is emerging as one of the major industrial sectors of the country. It consists of small up to the largest scale of steel melting and re-rolling factories across the country that mostly produce deformed bar rod of different grade (40, 60, 500), angel, channel and coil for the construction industry. Though the history of Steel Industry is not older one but it can make a glorious future. Before 1971 Bangladesh did not have any steel mill and even after the liberation there were only a few steel factories in the country. In 1990s the actual development began in this sector through a revolution. During that period the building constructing agencies or developer companies came forward to build modern infrastructure. Then with the increasing demand, new investors started investing in steel or rod production. In 2012 we have almost 400 mills across the country including Dhaka, Chittagong. Although most of them are manual steel plants, 30 mills among them are automated. Many steel producing companies have gained reputation as a...
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...taken by an individual manager or by an organization at the strategic, functional or operational levels Reinventing a Giant Corporation: The Case of Tata Steel D V R Seshadri and Arabinda Tripathy A KEY WORDS Reinvention Change Management Turnaround Tata Steel Liberalization Response to Globalization t the meeting of the senior management of Tata Steel to celebrate the spectacular performance of the company, Mr. B Muthuraman, the Managing Director, recalled with satisfaction the remarkable strides that the company had made from the difficult days in the early nineties, when the company, used to a protected environment, was suddenly thrown open to global competition, consequent to the liberalization of the Indian economy. The company had closed the year with a record profit of Rs. 34.74 billion. A series of initiatives launched by the company over the last 15 years had culminated in these stellar results although there were many challenges at every step. At each stage in its journey, the company did what needed to be done. In retrospect, however, the various initiatives launched by the company over the years now appeared to fit into a coherent picture. The company had made steady progress over the years and had now achieved a pre-eminent status in the Indian steel industry. It had become one of the lowest cost steel producers in the world five years ago, a distinction that it had continued to maintain. All key performance indicators indicated that the company was in the...
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...Seunghun Lee HIS 312 Dr. Pankratz FEB. 28. 2011 Iron Manufacturing Activity in America Colonial and Revolutionary Period Iron production in the US dates back to the colonial era where iron production was still low and there were no iron producing industries then. It was in 1771 when a few tons of iron were being supplied to the country and the factories were few. The revolutionary brought about the need to produce more iron in the country. Iron is extracted from iron ore which is smelted then blown with air. It is then cleaned of any impurities and carbon to ensure it is good for use. Iron was the booming industry in the US since it is a much easier metal to make than extracting steel. Back in 1647 was the first iron works in the US referred to as the Hammersmith which were not in operation for long. Other subsequent iron manufacturers were erected near to the ore suppliers and near the transport ways (High Beam Research, Para 1). The iron manufacturing areas were in colonial America, eastern Pennsylvania near the Delaware River, western Pennsylvania around the Allegheny and Monongahela Rivers, and the Hudson River valley in New York and New Jersey. Most of the industries producing iron did not manage to develop and were tiny since the cost of fuel needed to run their furnaces was high. Another reason for their lack of development was the fact that there was a low efficiency in the supply of fuel. The production of iron was made difficult by these factors...
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...Abstract Our Senior Design project was based on the design and manufacturing of a devise capable of testing the physical properties of the main housing of an AR-15 modern sporting rifle. The main housing of an AR-15, as well as any other firearm, is known as the lower receiver; the lower receiver houses the springs, hammer, trigger and magazine. As a third party, we were commissioned by Lively Machine to test the physical properties of these lower receivers that the shop was producing. The purpose of the design of this devise was to test the tensile properties of the components upper receiver attachment pin holes. We also performed a compression test on another critical component of the lower receiver, the magazine well. The newest design in the firearm industry calls for lower receivers to be made from magnesium, as opposed to the old models of aluminum. We will display the data we received from the tensile and compression testing of the magnesium component, and then compare it to a theoretical testing of the currently used 6061-T6 Aluminum Alloy. The Modern Sporting Rifle There are many widespread misconceptions about the modern day sporting rifle also known as the AR-15. The most popular misconception is that the AR-15 sporting rifles are military grade weapons, this is a false accusation. Cosmetically the AR-15 sporting rifle is nearly identical to its’ military counterpart the M16, the functionality of the sporting series is much different. A military grade M16 is...
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...Discuss the trends in the steel industry and how it may impact Nucor’s strategy. Nucor Corporation started as a Nuclear Corporation of America. The latter was a highly diversified and marginally profitable company; the company products included instruments, rare hearths, semiconductors and construction. One of the company potential acquisitions was Coast Metals, a family owned producer of specialty metals. When the acquisition fell through, Nuclear hired one of the top engineers as a consultant to recommend other acquisition targets. Ken Iverson who was the president and CEO of the Nucor Corp. had strong technical skills and general management experience. The Nuclear Corporation of America was involved in the nuclear instrument and electronic business. The company went through many years of severe financial strains; he was responsible for the supervising the joist operations as well as the research, chemical and construction segments. Shortly after Iverson became the CEO of the company, he concluded that the best way to put the company on sound footing was to exit the nuclear instrument and electronics business and rebuild the company around its profitable South Carolina based Vulcraft subsidiary which was in the steel joist business. So Iverson moved the company’s headquarter from Phoenix, Arizona to Charlotte, North Carolina, in 1966 and proceeded to expand the joist business with new operations in Texas and Alabama. The company adopted the name Nucor Corp. in 1972, than...
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...-Examples of internal drivers for change (inefficiencies within the business) at CSP UK included: Poor delivery - rather than delivering steel to customers on time there were delays, leading to loss of business. Competitiveness - steel produced in the UK could be more expensive than from some other countries. High wastage - failing to make products right first time meant that they had to be reworked or scrapped. Low staff morale – employees were committed but were not motivated by the environment in which they were carrying out their jobs. External drivers (pressures for change outside the business) came from: New competitors – low cost producers in Eastern Europe and the Far East were taking business. This could lead to reduced demand with higher costs. Changing customer requirements – for example, the fall in demand for steel for the automotive industry meant that Corus needed to find different types of customers or develop different products. New technology meant customers expected higher specifications. Perceptions of the steelmaking industry within the community tended to be negative – for example, the industry was seen as having a poor record on environmental issues. Total Quality Management (TQM) initiatives had previously been implemented to great effect at CSP UK to improve productivity and improve competitiveness. CSP UK had also previously reduced manpower for the same purpose. However, Corus Strip Products is a business with deeply committed people...
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...AN ASSIGNMENT ON MERGER AND ACQUISITION OF Tata Steel and Corus BY Lokesh Bhatiya 09MBA02 SEMESTER 4 INTRODUCTION: STEEL INDUSTRY Contribution in the development of India’s economic growth: The Indian steel industry is more than 100 years old now. The first steel ingot was rolled on 16th February 1912 - a momentous day in the history of industrial India. Steel is crucial to the development of any modern economy and is considered to be the backbone of the human civilization. The level of per capita consumption of steel is treated as one of the important indicators of socio-economic development and living standard of the people in any country. It is a product of a large and technologically complex industry having strong forward and backward linkages in terms of material flow and income generation. All major industrial economies are characterized by the existence of a strong steel industry and the growth of many of these economies has been largely shaped by the strength of their steel industries in their initial stages of development. India is the seventh largest steel producer in the world, employing over half a million people directly with a cumulative capital investment of around Rs. one lakh crore. It is a core sector essential for economic and social development of the country and crucial for its defense. The Indian iron and steel industry contributes about Rs.8,000 crore to the national exchequer in the form of excise and custom...
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...Introduction VBF Tubing is the largest steel producer in the Netherlands. VBF produces welded steel tubing plants in three of its plants. These tubes find application in various fields ranging from structural components to gas, steam & liquid transmission. The major concern for VBF is their low inventory ($ 4.5 million) turning rate. Process i. Raw material preparation: Flat rolled steel is used as raw material, which is wound into rolls, unwounded, and then the start of one coil is welded against the end of previous coil. Continuous steel strip is then fed to tube forming & welding operation. ii. Tube formation: Two basis sizes called as ‘Mother Tubes’of 4 & 3 inch diameter. 4 inches in diameter accounted for 90% production. 3 inch mother tube produced over a 5 day period, only 3 times a year because it required a major changeover. iii. Stretch-reduction: Vast majority of 4 inch tubes are stretched & reduced in SRM machine into smaller dia. (0.5-2.5 inch). There is a production loss of 10 days when 4 inches are being cut. Production rates are minimum for smaller dials. iv. Finishing operations: Cost of storage of semi-finished tube is $400/ton. Various operations performed in finishing include zinc plating, threading tube ends, and adding caps before shipping to the customer. Problem Statement i. The inventory turnover is very low in spite of increasing demand. Excess holding of 3000 tonnes of finished goods indicates major problems in the sales operations. ii. 15...
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...Year Eleven Chemistry Rust prevention in coating. Introduction/Abstract. The context of ships rusting at sea. Steel has many properties that make it a useful and essential building material in boats. Its strength and durability make it a great choice for structures exposed to high amounts of stress, such as weather, heat, large amounts of applied force and constant usage and is also a viable option for the sea although it can still be bettered. Steel is better protected by; galvanisation, waterproof paint or a sacrificial anode to better the corrosion protection for boats in the water compared to just bare steel framework (Corrosion methods, Corrosion-doctors.com;) these methods in theory protect the steel from the chlorides and salts to further the durability and life of the framework of a boat and hence allow them to endure more, and with corrosion costing $2.7 billion to just ships alone it’s easy to see why corrosion must be prevented. (The cost to the world because of corrosion with ships at $2.7 billion.) The chemistry of rust. Rust is caused by a few factors; moisture is the leading cause of rust along with water and salt, all making boats the most common victims of rust. (4 Fe+ 3O2 + 6 H2O= 4 Fe(OH)3,) Both water and oxygen must be present for rust to start and with water and oxygen on its own enough for rust to start destroying the structure of a boat, but along with salt to the water, it’ll become evident quickly that rust can be a big problem for many boat...
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...ArcelorMittal is a steel and mining company with a global presence in more than 60 countries. It is a leader in major global carbon steel markets such as automotive, construction, and household appliances to name a few. It is the combination of Arcelor and Mittal Steel, the latter being the origin of the present company. Mr. Lakshmi N. Mittal, Chairman and CEO of ArcelorMittal, started in the steel industry by building his first steel plant in Indonesia in 1976. This would form the beginning of Ispat International, while also establishing its parent holding company, LNM Group. In the 1980’s, still a minor player in the steel industry, Mittal looked to a new potential raw material source, DRI (Direct-reduced Iron). This had immense potential as production costs could be reduced by half while production volume itself could increase by tenfold. In 1989, Mittal leased one of the largest DRI suppliers, Trinidad & Tobago, and later bought it outright in 1994. As Ispat and LNM Group continued to expand over the next decade, Ispat acquired its parent, LNM Group, in 2004, and immediately merged with International Steel to form Mittal Steel, making it one of the largest steel companies in the world by volume and a major player in the steel industry. Mittal Steel’s growth finally led to the proposed acquisition, in 2006, of the world’s second largest steel producer in terms of production, Arcelor. After this successful acquisition, ArcelorMittal succeeded Mittal Steel and became...
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