...Case 6-1 The Browning Manufacturing Company’s management team uses a projected budget in order to compare actual financial results to expected financial results. According to the management team, each department is dependent upon each other to provide estimates of future revenues and expenses. The departments consist of finance, sales, manufacturing and purchasing. The estimates are used to devise a projected profitable plan for the upcoming year. After each department supplied their estimates at the Browning Manufacturing Company, the accounting team would create a projected income statement, balance sheet, retained earnings statement, and a statement of cost of goods sold (Anthony, Hawkins, Merchant, 2011). Usually the company focuses on profitable operations but this time the management team wants to focus on the amount of cash at the end of the year and accomplish paying $350,000 of their notes payable. Once all cash outflow transactions are processed, management expects $150,000 of cash available in the ending cash account (Anthony, Hawkins, Merchant, 2011). The accounting team has prepared a projected income statement, balance sheet, statement of retained earnings, and statement of cost of goods sold (Appendix A, B, & C) for managements review. Management will to review principal differences between the actual results of 2009 against the projections of 2010. Then, management can utilize this information to access the strength of the 2010 projections, its ability...
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...Business Law Marty Finucane Summer 2013 You Be the Judge – 2 SUBJECT: The Marley Cooling Tower Company v. Caldwell Energy & Environmental, Inc., 280 F. Supp. 2d 651 United States District Court for the Western District of Kentucky, 2003 A. Facts From the case notes, Caldwell manufactures and installs cooling systems for power plants. There was an agreement between Caldwell and Duke/Fluor Daniel to install one of their systems in South Carolina. Part of the contract stated that Caldwell would “pay liquidated damages of $5,000 per day if the system was late”. The Marley Cooling Tower Company made a pact to ship all materials needed for the construction of this cooling unit and that it would deliver on or before April 1. According to this contract, “Neither Marley or the Purchaser shall be responsible or held liable for any special, indirect, consequential, liquidated, and/or punitive damages.” Also agreed upon was that there was not to be any changes in the contract unless a written and signed documents stated as such. The materials were delivered by Marley 2 months after the April 1st deadline agreed upon in the contract with Caldwell and as a result, Caldwell did not meet its deadline for manufacturing and installing the cooling system and was assessed damages of $135,000 by D/FD. Caldwell then tried to transfer the cost to Marley by paying the same sum less than what was charged by Marley, calling it “backcharges”. A subsequent...
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...assessments while decreasing purchases from those companies who refused. Along with its co-defendant, it is accused of bringing the combined economic power of the hotels against the suppliers who failed to pay. Western International Hotels Co.: Another defendant that was accused of violating the Sherman Act’s provisions with its refusals to deal with the unreasonable restraints on trade. Facts: In Portland, Oregon, representatives of hotels, restaurants and other business entities organized an association to attract potential conventions to their respective city. While at the convention, members were asked to make contributions equal to one percent of their sales in order to help finance. To help bolster their collections, hotel members, including the defendant Hilton Hotel Corp., agrees to give preferential treatment to the suppliers who paid their assessments. But for those who did not pay, actions were set in motion to help decrease the purchases from those particular suppliers. Procedure: The court found that the evidence was clearly sufficient to establish that the defendant hotels agreed to prefer suppliers who paid contributions over those who did not. The primary purpose and direct effect of the defendant’s actions was to bring the combined power of the hotels against those suppliers who did not pay. A corporation is liable for acts of its agents within the scope of their authority even when done against company orders. The court affirmed the ruling due to the...
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...Abstract: Process industries, especially textile industries, have automatic machinery which are highly inflexible and have high volume/low variety products. This nature of the textile industry makes implementing lean manufacturing techniques a challenge; hence implementing lean techniques in a textile industry has been taken up as a challenge. We have chosen a combination of value stream mapping (VSM), 5S, kanban, kaizen, poka-yoke, and visual controls to improve the processes. The findings of this study reveal that a thorough analysis of the process, setup, and changeover time (CO), use of colour coding for identification of volume-mix, use of kaizen and quality circles which empower the workforce, are some of the various keys to a successful lean implementation in a textile industry. Keywords:Project manegement; lean manufacturing; agile manufacturing; value stream mapping; VSM; supply chain management. 1 Introduction What Is a Project Manager? SECTION 1: INTRODUCTION TO PROJECT MANAGEMENT Project management is the art of matching a project's goals, tasks, and resources to accomplish a goal as needed. We say "as needed" because one has limited time, money, and resources (human and machinery) with which to accomplish a goal. One can think of a project as a process. Figure 1 shows this process as a simplified block diagram. Figure 1: Simple Project Management System The process involves inputs and outputs. Successful projects "do the right things, with the right...
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...July 2002 • NREL/TP-550-30769 A Literature Review of the Effects of Natural Light on Building Occupants L. Edwards and P. Torcellini National Renewable Energy Laboratory 1617 Cole Boulevard Golden, Colorado 80401-3393 NREL is a U.S. Department of Energy Laboratory Operated by Midwest Research Institute • Battelle • Bechtel Contract No. DE-AC36-99-GO10337 July 2002 • NREL/TP-550-30769 A Literature Review of the Effects of Natural Light on Building Occupants L. Edwards and P. Torcellini Prepared under Task No. BEC2.4002 National Renewable Energy Laboratory 1617 Cole Boulevard Golden, Colorado 80401-3393 NREL is a U.S. Department of Energy Laboratory Operated by Midwest Research Institute • Battelle • Bechtel Contract No. DE-AC36-99-GO10337 NOTICE This report was prepared as an account of work sponsored by an agency of the United States government. Neither the United States government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States...
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...of the plant, based in Danbury Connecticut, was in the dark for many days. Union Carbide made front page across the country for months and is still considered the worst industrial disaster in the history of the planet. The official Indian government panel charged with tabulating deaths and injuries updated the count to more than 3,800 dead and approximately 11,000 with disabilities (Browning, 1). The chemical that was released, methyl isocyanate (MIC), is an ester of isocyanic acid (HNCO). It is highly volatile and inflammable and is easily produced and stored at room temperature. MIC, with phosgene as one of the substances used to manufacture it, creates immediate irritation, chest pain, breathlessness, and can trigger severe asthma. If the exposure is high, as in Bhopal, it leads to severe bacterial and oesinophihc pneumonia, tumour or laryngeal edema and massive cardiac arrest. The real problem, however, is that it sensitizes the skin and even a mild exposure proves lethal (www.ecoindia.com). Union Carbide, reporting sales of $9.5 billion in 1984, was clearly one of the largest industrial companies in the Unites States and the World. They produced everything from plastic wraps to automotive supplies. The Bhopal plant produced pesticides, mainly to be used in India in its pursuit to be more self-sufficient. Union Carbida India Limited (UCIL) was celebrating its...
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...Discipline, Khulna University, Bangladesh 2Department of Finance and Banking, University of Rajshahi *mizanurku03@yahoo.com Abstract: Small and medium enterprises (henceforth, SMEs) play a key role in economic growth and industrial development of a country. They make vital contributions in improving economic and social sectors of a country through stimulating large scale employment, investment, development of indigenous skill and technology, promotion of entrepreneurship and innovativeness, enhancing exports, and also building an industrial base at different scales. SMEs worldwide have been benefited from the combined interactions of forces of product mix, location factors, and market advantages. However, evidences also suggest that there are cases of SME failures. Growth of SMEs is constrained by many factors. Many SMEs occasionally go on growing into large firms. This paper looks for identifying such constraints of manufacture based SME Development in Bangladesh. From the study, it has been identified that, lack of utility facilities, for example, electricity, gas and water, frequent changes of the prices of raw materials as well as shortage of raw materials, political unrest, high interest rate on borrowings, high transportation cost, lack of financing for ongoing concern, and inadequate infrastructure are the major constraints of manufacture based SMEs Development in Bangladesh. The researchers assume that few initiatives like developing necessary infrastructure, ensuring utility...
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...an Assistant Professor of Information Systems and Technology Management in the School of Business at Pacific Lutheran University, Tacoma, Washington, USA. Keywords Internet, Economy, Innovation, Strategy Abstract Electronic commerce or business is more than just another way to sustain or enhance existing business practices. Rather, e-commerce is a paradigm shift. It is a ``disruptive’’ innovation that is radically changing the traditional way of doing business. The industry is moving so fast because it operates under totally different principles and work rules in the digital economy. A general rule in e-commerce is that there is no simple prescription and almost no such thing as an established business or revenue model for companies even within the same industry. Under such conditions, an analytical framework is needed to assist e-commerce planners and strategic managers in assessing the critical success factors when formulating e-commerce business models and strategies. This research develops an analytical framework based on the theories of transaction costs and switching costs. Both demand-side and supply-side economies of scale and scope are also applied to the development of this framework. In addition, e-commerce revenue models and strategies are also discussed. Based on the analytical framework developed by this research, this paper discusses the five essential steps for e-commerce success. They are: redefine the competitive advantage; rethink business ...
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...Resource Center and an Assistant Professor of Information Systems and Technology Management in the School of Business at Pacific Lutheran University, Tacoma, Washington, USA. Keywords Internet, Economy, Innovation, Strategy Abstract Electronic commerce or business is more than just another way to sustain or enhance existing business practices. Rather, e-commerce is a paradigm shift. It is a ``disruptive’’ innovation that is radically changing the traditional way of doing business. The industry is moving so fast because it operates under totally different principles and work rules in the digital economy. A general rule in e-commerce is that there is no simple prescription and almost no such thing as an established business or revenue model for companies even within the same industry. Under such conditions, an analytical framework is needed to assist e-commerce planners and strategic managers in assessing the critical success factors when formulating e-commerce business models and strategies. This research develops an analytical framework based on the theories of transaction costs and switching costs. Both demand-side and supply-side economies of scale and scope are also applied to the development of this framework. In addition, e-commerce revenue models and strategies are also discussed. Based on the analytical framework developed by this research, this paper discusses the five essential steps for e-commerce success. They are: redefine the competitive advantage; rethink business strategy;...
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...Case Map for Werner & DeSimone: Human Resource Development (Thomson/South-Western) This map was prepared by an experienced editor at HBS Publishing, not by a teaching professor. Faculty at Harvard Business School were not involved in analyzing the textbook or selecting the cases and articles. Every case map provides only a partial list of relevant items from HBS Publishing. To explore alternatives, or for more information on the cases listed below, visit: hbsp.harvard.edu Chapter 1: Introduction to Strategic Management and Business Policy Chapter 1 Introduction to Human Resource Development Human Resources at the AES Corp.: The Case of the Missing Department: Jeffrey Pfeffer Product #: HR3 Length: 28p Abstract Southwest Airlines: Using Human Resources for Competitive Advantage (A): Charles A. O'Reilly III; Jeffrey Pfeffer Product #: HR1A Length: 24p Teaching Note: HR1T B case#: HR1B Abstract AES develops and operates electric power plants all over the world, and by late 1996, has approximately 20,000 employees. But, the corporation has no human resources staff, either at corporate headquarters in Arlington, VA, or in any of its operating facilities. Moreover, the company has very little centralized staff at all--little or no strategic planning, no environmental department, and almost no legal staff. The question is, could and should the company continue to operate in this same way, with little specialized staff, as it continues to expand and geographically diversify? Another...
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...it such a relevant topic. This issue is mainly down to the supply chain link between the raw materials supplier and the retailer. An example of this is frozen foods company Findus having to recall a large amount of its lasagne meals due to their supplier Comigel raised concern that its products didn’t “conform to specification” (Bowling, 2013). Tests were performed on the products supplied by Comigel and out of the 18 products tested they found 11 to be containing between 60 and 100 percent horse meat traces (Bowling, 2013). Another good example of the horse meat scandal in the media is with Tesco supermarkets. Tesco’s everyday value frozen burgers which used meat supplied by Silvercrest Foods (Hegarty, 2013) were tested to analyze the percentage of meat in each burger. Out of the 27 beef burgers that were trialed 10 tested positive for horse DNA and 23 positive for pig DNA (Hegarty, 2013). The highest level of horse DNA found in any of Tesco’s value burgers was a massive 29.1% and since the conclusion of these tests there has been a withdrawal of around 10 million burgers (Hegarty, 2013) and an 2 page spread “unreserved apology” has been made by Tesco themselves (BBC News. 2013). They have also decided to drop Silvercast suppliers saying the “breach of trust [was] simply too great” (BBC News, 2013). These cases of horse meat being found in burgers and lasagne across the county...
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...financial investment (John Keynes). Investment is a conscious act of an individual or any entity that involves deployment of money (cash) in securities or assets issued by any financial institution with a view to obtain the target returns over a specified period of time. Types of investment There are three types of investment: 1. Ownership investment 2. Lending investment 3. Cash equivalent 1. Ownership Investments Ownership investments are what comes to mind for most people when the word "investment" is batted around. Ownership investments are the most volatile and profitable class of investment. The following are examples of ownership investments: (a)Stocks Stocks are literally certificates that say you own a portion of a company. More broadly...
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...holding tongs in one hand and a beer in another standing at the grill, which is also not only incorrect, but not fully reflective of modern grilling. But yes, that is a real Kingsford bag. (Photo Illustration by Sandy Kreps) Team 3 Marketing Case Analysis Executive Summary The Kingsford brand of charcoal has found success through favorable conditions in its market traditionally, however conditions are now less favorable. A reduction in the charcoal market is affecting Kingsford even though its charcoal market share has increased. The consumer shifting trend from charcoal to gas grilling is now the primary threat to Kingsford and the charcoal market, and to combat this an action plan includes tight control on pricing, new pro-charcoal advertizing campaigns, and increased partnership with retailers and distributes. Conditions appear favorable for resurgence for Kingsford through these strategies. Introduction Clorox is a well known and historic house-hold brand, known primarily for home cleaning products. Founded in 1913, the company initially serviced the business market with industrial strength bleach. An attempted merger with Procter & Gamble was blocked by the U.S. Supreme Court and Clorox as an autonomous company listed on the NY Stock Exchange in 1969. Clorox began an aggressive growth strategy driven by acquisition and internal research and development. This included developing and acquiring new product lines such as Glad, Brita, Formula...
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...Total Quality Management Vol. 23, No. 11, November 2012, 1227–1239 Which HRM practices contribute to service culture? Akiko Ueno∗ ,† Royal Docks Business School, University of East London, Docklands Campus, 4-6 University Way, London, E16 2RD, UK It is known that Human Resources Management (HRM) can help to develop service culture, which will in turn improve service quality. The purpose of this article is to determine the relative importance of six HRM practices in terms of their impact on culture. A questionnaire survey of medium and large-sized UK service businesses was conducted. The results reveal that there is a strong association between culture and HRM practices, and that some management practices are more strongly associated with culture than others. Further research should explore the reasons why some HRM practices are more contributory to culture than others. Service businesses in pursuit of service quality should make use of these HRM practices for developing service culture in their organisations. This research has confirmed a strong association between culture and HRM practices, and also clarified the relative importance of HRM practices in terms of their impact on culture in order to improve service quality. Keywords: culture; HRM; services Introduction This article investigates the relative importance of six Human Resources Management (HRM) practices in terms of their impact on culture in order to improve service quality. In a previous study, it was found...
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...Massachusetts is often hailed as the cradle of liberty and truthfully it is the state most deserving of the title. The many of the first few acts of rebellion were carried out in Massachusetts such as the boston tea party and many various meetings to plan the revolution. Many members of the sons of liberty were from Massachusetts too and they were very crucial in spreading patriotic sentiments all over the states. Massachusetts held a very important role in the America’s fight for independence and as such it is very easy to see the cultural and historical significance of the state. In this essay we will look at the cultural contributions, persons, and socio-economic situations of pre 20th century Massachusetts DESCRIPTION Art Case Study: Faneuil Hall (source: Wikimedia. Image by Infrogmation) Faneuil Hall located in Boston, Massachusetts was commissioned in 1740 by Merchant Peter Faneuil to serve as market house. In its early days Faneuil hall also served as a Meeting hall for the people of Boston, hosting speeches and by prominent American leaders such as Samuel Adams ("Faneuil Hall."). Originally two story high, the original Faneuil Hall built by Scottish born artist John Simbert was rebuilt and expanded upon multiple times, once when it burned down in 1761 and in 1805 when Architect Charles Bulfinch expanded the building adding a third floor and increasing it to the 30m x 24m building today. The Architect John...
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