...6-2 Lewis Corporation* Lewis Corporation had traditionally used the FIFO method of inventory valuation. You are given the information shown in exhibit 1 on transactions during the year affecting Lewis’s inventory account. (The purchases are in sequence during the year. The company uses a periodic inventory method). Exhibit 1 Inventory Transactions 2000-2002--------------------------------------------------- 2000 Beginning Balance 1,840 Cartons @ $20.00 Purchases 600 cartons @ 20.25 800 cartons @ 21.00 &nbs p; 400 cartons @ 21.25 &nbs p; 200 cartons @ 21.50 &nbs p; Sales &nbs p; 2,820 cartons @ 34.00 2001 Beginning Balance &nbs p; 1,020 cartons Purchases &nbs p; 700 cartons @ 21.50 &nbs p; 700 cartons...
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...6-2 Lewis Corporation* Lewis Corporation had traditionally used the FIFO method of inventory valuation. You are given the information shown in exhibit 1 on transactions during the year affecting Lewis’s inventory account. (The purchases are in sequence during the year. The company uses a periodic inventory method). Exhibit 1 Inventory Transactions 2009-2010--------------------------------------------------- &nbs p; 2009 Beginning Balance &nb sp; 1,840 Cartons @ $20.00 Purchases &nbs p; 600 cartons @ 20.25 &nbs p; 800 cartons @ 21.00 &nbs p; 400 cartons @ 21.25 &nbs p; 200 cartons @ 21.50 &nbs p; Sales &nbs p; 2,820 cartons @ 34.00 2010 Beginning Balance &nbs p; 1,020 cartons Purchases &nbs p; 700 cartons @ 21.50 ...
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...Cases in Operations Management (MGT3001/4001) Background This course uses case studies to explore the decisions made in designing operations systems to deliver goods and services to consumers. It builds upon the content of the Level 2 Operations Management curriculum. Learning outcomes By the end of the course, participants will be able to * explore the nature and context of operational product and service delivery systems; * examine the relationship between generic process choice and market scenarios; * examine the mechanisms which are employed to optimise decision making concerning supply chains, resource provision and utilisation, and customer service quality levels; * examine the design of control systems and appropriate measurement criteria to ensure effective and efficient system performance Staff Dr Alison Smart (AS), Adam Smith Business School (coordinator) Room 601, Main Building email: alison.smart@glasgow.ac.uk Dr Rob Dekkers (RD) Methods The course will be taught in a workshop style, with case studies forming the focus for the workshop. The case studies will be used to explore the different operations decisions that organizations face. It is important that all students (i) have read the relevant theoretical materials provided in the textbook chapter and other sources; and (ii) are prepared at the start of the sessions to contribute to discussions on written case studies (we know it is not possible to prepare in advance for...
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...FOREIGN TRADE UNIVERSITY FACULTY OF INTERNATIONAL EDUCATION ⃰⃰ ⃰ ⃰ JOHN LEWIS – A CUSTOMER SERVICE CASE STUDY Prepared for Dr. Cao Dinh Kien Instructor of the course Applied Integrated Business By Man Hong Ngoc Class: FB6A ***** October 27, 2015 I – Introduction John Lewis The John Lewis Partnership is an employee-owned UK company, which operates John Lewis department stores, Waitrose supermarkets and some other services. The company is owned by a trust on behalf of all its employees – known as Partners – who have a say in the running of the business and receive a share of annual profits, which is usually a significant addition to their salary. The group is the third largest UK private company in the Sunday Times Top Track 100 for 2010. Additionally, John Lewis also has the distinction of being UK’s best high-street website after beating M&S in October 2010. Moreover, John Lewis is one of the UK’s top ten retail business with 27 John Lewis department stores and more than 166 Waitrose stores. The first store opened in Oxford Street London in 1864 with the first branch of the Waitrose chain opening in 1904. John Lewis has been known for providing a unique source of competitive advantage that has fuelled 75 years of profitable growth and a reputation among customers and suppliers unparalleled in the UK retail industry. The John Lewis Partnership is a visionary and successful way of doing business, boldly putting the happiness of Partners at...
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...NAME: HAMZA .S. MAKANDE STUDENT NUMBER: TP027192 INTAKE CODE: UC2F1501IBM BM061-3.5-2-BEG MODULE NAME: BUSINESS ETHICS GOVERNANCE TOPIC: BANK OF AMERICA’S MOST TOXIC ASSET (CASE B) INDIVIDUAL ASSIGNMENT LECTURER: FARAHIDA BINTI ABDUL JAAFAR DATE ASSIGNED: 06th MARCH 2015 DATE DUE: 17th APRIL 2015 Table of Contents INTRODUCTION. 3 Summary. 3 Ethical Dilemma. 3 Affected Stakeholders. 4 ANSWER FOR QUESTION 1. 4 ANSWER FOR QUESTION 2. 5 ANSWER FOR QUESTION 3. 6 ANSWER FOR QUESTION 4. 7 ANSWER FOR QUESTION 5. 8 ANSWER FOR QUESTION 6. 8 CONCLUSION. 9 REFERENCES. 10 BANK OF AMERICA’S MOST TOXIC ASSET (CASE B). INTRODUCTION. Summary. Ken Lewis was a Chief executive officer of Bank of America, he was appointed as American Banker’s "banker of the year "after purchasing Countrywide Financial and Merrill Lynch. The bank acquisition of Merrill Lynch in 2008 made Bank of America the world's largest wealth management Corporation and a major player in the investment banking market. The deals were applauded and made Ken Lewis even more worth being named as American Banker’s “banker of the year” During first week of January 2009 both Countrywide Financial and Merrill Lynch were bankrupt with assets in their balance sheet which set a new standard for toxicity in financial market, resulting in forfeiture for the bank and requiring financial assistance from the Federal Government. Bank of America was forced to welcoming U.S. taxpayers as the company’s largest...
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...list include the following: 1. Efficient Consumer Response (ECR): Lean Manufacturing Japan (2008) stated that ECR “is a strategy to increase the level of services to consumers through the close cooperation among retailers, wholesalers and manufacturers. Lean Manufacturing Japan (2008), also stated that “ECR reduces the opportunity loss, inventory level, and entire cost, increases monetary profitability by sharing the purpose of customer satisfaction. 2. Just – in – Time (JIT): simply means getting the right quantity of goods at the right place and right time and it originated from Japan after World War II by Toyota Motor Company (Reid & Sanders, 2007). There are three elements of JIT which are: Just in time manufacturing, Total Quality Management and Respect for people. 3. Lean System: Also known as Just – in – Time. Lean simply means the elimination of waste, with perfect quantity to meet demand instantaneously. Lean has four elements which are: Customer focus, synchronized flow, behavior and waste elimination (Slack &Lewis, 2011). Lean operations help to reduce cost, gives higher quality, reduce lead time, increase productivity and reduce amounts of waste (Wikispaces, n.d) 4. Agile Operations: is the ability to react and adapt to the changes in demand and supply situations in a supply chain (Sehgal, V., 2010). 5. World Class Manufacturing (WCM): It is the best practices which can be use to describe best manufacturers (Hosseinie et al. 2012). It improves profitability,...
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...In recent years, there are many questions about the economy that might spark any one’s curiosity. Why are apartments so hard to find in Mumbai City? Why do airlines charge less for a round-trip ticket? Why executive class airfare is costlier than economic class? Why are jobs easy to find in some years and hard to find in others? Why a package tour costs less as compared to individual booking of air ticket and hotel? Moreover, as one go about his/her life, he/she make many economic decisions. During student carrier one has to decide how many years to stay in school. After joining in a job, one has to decide how much of his/her income to spend, how much to save, and how to invest his/her savings. When running a small business or a large corporation, and one will decide what prices to charge for his/her products. The economic tools, which will be discussed in this course, will give you a new perspective on how best to make these decisions. Following ten economic principles can be applied in many of life’s situations, whether the future finds you reading the newspaper, running a business, or sitting in the work place. These economic principles are (i) managers...
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...College of Arts and Sciences CUREJ - College Undergraduate Research Electronic Journal University of Pennsylvania Year 2006 Corporate-NGO Partnerships for Sustainable Development Corinne Damlamian University of Pennsylvania, cdamlamian@gmail.com This paper is posted at ScholarlyCommons. http://repository.upenn.edu/curej/12 CORPORATE-NGO PARTNERSHIPS FOR SUSTAINABLE DEVELOPMENT How corporations and nongovernmental organizations can work together, illustrated with examples from the Fair Trade movement. Corinne Damlamian “Senior Honors Thesis” “Submitted to the Philosophy, Politics, and Economics Program at the University of Pennsylvania in Partial Fulfillment of Requirements for Honors” Thesis Advisor: Professor David Ludden May 2006 ~ Acknowledgements ~ I would like to express my appreciation and thanks to my thesis advisor, Professor Ludden of the History Department for his guidance and advice this semester. Thank you also to Dr. Danielle Warren of the Wharton School Legal Studies Department, for taking the time in her busy end-of-semester schedule to read my paper and give me much appreciated feedback. Finally, I wish to express my gratitude to my friends and family for their encouragement and support. Special thanks to my parents, especially to my mother for being the person who first sparked my interest in sustainable development which has driven me to write this paper. 1 TABLE OF CONTENTS Introduction PART I: Corporate-NGO partnerships...
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...Bunge Limited Review Table of contents 1. Introduction 2 1.1. Overview 2 1.2. The company core values and approach: 2 1.2.1. Core values 3 1.2.2. Company approach 3 2. Bunge operations 3 2.1. Bunge products 3 2.2. Decentralization impact on Bunge operations 4 3. Performance objectives effects on operations strategy 4 3.1. Operations quality 4 3.2. Delivering orders and dependability 5 3.3. Flexibility and products availability 5 3.4. Maintaining low-cost in production 5 4. Bunge qualifying and motivating factors 5 5. Strength, weakness, opportunities and threats 6 5.1. Strength 6 5.2. Weakness 6 5.3. Opportunities 6 5.4. Threats 7 6. Conclusion 7 References 7 1. Introduction 2.1. Overview Bunge limited is an agribusiness company founded in 1818 by Johann Peter Bunge, a German merchant. The start was in Holland to merchandise grains and imports from the Dutch colonies. Then, in 1859 it became one of the biggest commodity traders in the world. In 1884, the company was expanded after moving its base to Argentina to handle different types of businesses. Few years later and due to some political issues, the company moved to Brazil where it became one of the largest employers. Early 1990s, the company faced the unexpected where many international competitors started to accommodate their business in Brazil and Argentina, causing the Bunge Company management to refocus and to begin restructuring their...
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...Program The University of Michigan Sustainable Enterprise Program A program of the World Resources Institute DEJA SHOE (A): Creating the Environmental Footwear Company Recognizing the changing role of the corporation in society, the University of Michigan’s Business School and the School of Natural Resources created the Corporate Environmental Management Program (CEMP). The program is designed to develop leaders, executives, and managers – whether they work in the private sector, public sector, or for an environmental non-profit – with the skills and knowledge required to create economically and environmentally sustainable organizations Permission to reprint this case is available at the BELL case store. Additional information on the Case Series, BELL, and WRI is available at: www.BELLinnovation.org. Julie Lewis’ interest in recycling began in the early 1960’s when recycling wasn’t fashionable. Recycling in her home was done out of necessity. She helped her mother crush aluminum cans and return them to the local recycling center. She became concerned with environmental issues as a high school student when national attention was focused on the first Earth Day and water restrictions made news in her native California. With the encouragement of her teacher, Lewis made a video on the “State of the Environment” for a class project. Combining her environmental awareness with her instilled habit of recycling, she endeavored to launch a program whereby students would sift through...
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...How Corporations use Risk Management to Influence Financial Decision Making Holman Skinner Keiser University Dr. Tim Drake Business Research Writing: DBA700 10/16/2012 How Corporations use Risk Management to Influence Financial Decision Making Introduction Corporations make financial decisions that pose a risk to the everyday operations of a business everyday. Risk management comes into play with financial decisions when it is important to enabling organizations to reduce exposures to financial decision making, and measuring risk throughout the organization (Lai, Wang, & Yu, 2009). This research study will focus on the topic of how corporations use risk management to influence financial decision making. This research will answer the research problem, research questions, address the theoretical framework. Statement of Problem The problem the study focuses is centered on focuses on how corporations can avoid making bad decisions when ultizing utilizing risk management in making financial decision making. For instance, some corporations not taking risk management seriously has resulted in inefficient use of capital, increased liabilities, and reputation risk (Chemobai, Jorion, & Yu, 2011). Furthermore, when a firm is not willing to go through risk management, this will create an uncertain atmosphere that leads to lack of guidance for the organization and poor decision making. Moreover, a lack of certainty can cause confusion as to what...
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...IT SYSTEM IMPLEMENTATION CHALLENGES AND SOLUTION. Introduction: Information Technology (IT) is a branch which has recently been derived from computer science. It simply refers to the use of computer and other technologies for the management of vast information (Answer Corporations, 2012). Information technology in modern business is considered to be an easier and convenient way of doing things. Many organizations have long ago forgotten the issue of bulk files and enormous document within work environment. Transactions are also completed these days on the internet thereby avoiding transaction delays and waste of relevant time. What is responsible for the aforementioned is the advent of information technology. Organization considered the relevant of IT and indeed incorporate it’s within their operations and can be refers to as IT System. It is one thing to consider IT system development, it another thing to think of how to go about the implementation of the system to arrive at desired result. Using IT systems to capture and analyze information can have a significant impact on a firm’s performance (Chopra and Meindl, 2010). Slack and Lewis 2008, argued that information processing and computing power has undoubtedly had a major impact on almost all technologies but there are still limits to what computers can do. Following the positive result of successful implementation of IT System, It is pertinent to not that such implementation are not free from difficulties. Although...
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...Table of Contents Case Summary 2 Affected Stakeholders 3 Ethical Dilemma 4 Why would a $500,000 salary cap prompt personnel to leave for other banks? 5 Was stripping of Lewis’ chairmanship a significant move on the part of BoA shareholders? 6 How could Thain justify spending $1.2 million on his office when Merrill Lynch was on the verge of bankruptcy? 7 What did Ken Lewis hope to gain by claiming that he was “pressured” into completing the Merrill Lynch deal? 9 Of all decisions made by Ken Lewis in this case study, which one do you think did the most damage to his reputation? And why? 10 What should Lewis have done? 12 Conclusion 13 References 14 Case Summary Bank of America (BoA), founded in 1998 is an American multinational banking and financial services corporation. They were notably a key player in the global financial crisis that struck in 2008. Ken Lewis, a former CEO acquired Countrywide Financial and Merrill Lynch. To his dismay, the acquisitions turned out to be disastrous as the first week of January 2009 enlightened the problems that existed within Countrywide Financial and Merrill Lynch; they were bankrupt with assets in their balance sheet that set a new mark for toxicity in the financial market. This required attention and direct aid from the Federal Government itself. However, following this month BoA fell by 65 percent. Just a month after the first quarter of 2009, Ken Lewis was made CEO and stripped off chairmanship by the shareholders’...
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...LECTURE 11 MISTAKE INTRODUCTION We are here concerned with the consequences, if any, upon a contract where one or both of the parties to it have entered into the contract under the influence of a mistake. Sometimes these mistakes are due to some misrepresentation or misleading conduct on the part of one of the parties. In such cases there will usually be remedies based upon other principles such as misrepresentation and misleading and deceptive conduct. We are not concerned here with such mistakes. Our concern is with mistakes that might be termed as ‘self-induced or spontaneous’: Heffey et al, Principles of Contract Law, at 441. TYPES OF MISTAKE Broadly, there are four types of mistake which could have an effect on the enforceability and validity of a contract: (a) (b) (c) (d) Common mistake; Mutual mistake; Unilateral mistake; Non est factum. COMMON MISTAKE If the parties have reached agreement but have made the same mistake as to a fundamental fact, they have made what is often called a common mistake. The validity of the contract depends upon the type of common mistake made. Where the subject matter of the contract has been destroyed or does not exist at the time of the contract and neither party knows this, or is at fault, then the contract is void ab initio. See also s. 11 of the Sale of Goods Act. A different position applies if in fact the goods never existed. See McRae v Commonwealth Disposals Commission (1951) 84 CLR 377; Associated Japanese Bank (International)...
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...| Operations Decision | Strayer University Assignment 2 Week 6 Professor I. BasilMonica Johnson 8/11/2013 | | | | Beyond Beauty is located in Georgia and it manufactures artificial hair displays. The corporation uses raw synthetic plastic which gives the product a certain type of curl patterns for manikin displays. The hair products designed by the corporation are predominantly used by the African American population as well as individuals with hair loss problems. The primary downfall for organization is that it encounters a higher cost opposed its competitors due to the plant being located in the U.S. The hair product is sold for $32 each and the company only makes $2 per wig display. Beyond Beauty employs 100 workers that include administration and production employees. At the present quarter, the company is experiencing issues involving their total cost and total revenue. They are in a financial position where a drastic decision is needed on whether to discontinue the company’s operations. There are several environmental factors which should be taken into consideration before the company shuts down all in one. The first consecutive issue directed toward management is to conduct an Environmental Scan regarding the current situation. The environmental factors at stake include customer, competitor, and economic, social, and technological factors. All factors listed are vital in their own specified category. Management must analyze their consumers and competitors...
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