...A note to readers. It is suggested that you increase magnification to 125% or 150% to read the guide on screen. Click on the magnifying glass icon at bottom left of the screen and select your magnification. 8 Source-based questions Key points in Chapter 8 • Source-based questions require the incremental development of defined skills. • They include an appreciation of context, comprehension, source evaluation and ability to come to a reasoned conclusion. • Good background knowledge is needed. • Class practice will develop and refine the defined skills. Overview by Neil Hart I N PREPARING FOR SOURCE-BASED QUESTIONS students should first be aware of the collections of material available for their subject. On the whole, at A Level, source-based questions are connected with relatively short chronological periods - with Special Subjects or Depth Studies. Nevertheless, the array of relevant documents available can appear daunting, even though what is readily to hand in published form represents only a small proportion of extant material. Source material can never be separated from secondary work; indeed, the line between primary and secondary sources is often very fine. Professional historians use a much wider selection of documents than is available to students, and access to this greater range can therefore be gained at second hand. The work of historians is frequently indispensable in pointing out the limitations of the sources or in reinterpreting the evidence the...
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...Michael Porter’s “Five Forces” Model Summary and interpretation by Prof. Tony Lima February 25, 2006 Figure 1: Porter’s Five Forces From Michael Porter, Competitive Advantage, Simon & Schuster, New York, 1985, p. 5 Prof. Michael Porter teaches at the Harvard Business School. He has identified five forces that determine the state of competitiveness in a market. The forces also influence the profitability of firms already in the industry. These five forces are summarized in the above diagram. (The fifth force is the degree of rivalry that currently exists among firms already in the industry.) Here are a few additional details about Porter’s model.1 1. Barriers to Entry Economies of scale mean larger firms can produce at lower cost per unit. This tends to lower the number of firms in the industry and reduce competition. Proprietary product differences are the characteristics that make a product appeal to a large market segment. But only those characteristics that cannot be copied at low cost by competitors (“proprietary”) will be a barrier to entry. Brand identity is the extent to which buyers take the brand name into account when making purchase decisions. Capital requirements are the total cost of acquiring the plant and equipment necessary to begin operating in the industry. 1 This material is a summary drawn from Porter’s Competitive Advantage (1985). The material in question is on pages 5 – 8. 1 “Porter’s Five Forces” by Prof. Lima February 25, 2006 2...
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...Lincoln Electric: A Case Study Joe Attinello Cali Cook Alia Goss Kurt Oliver Mark Strom Mike Torbenson Business 305 Linda Gibson October 7, 2005 History and Background Lincoln Electric today is the worlds leading manufacturer of arc welding products, and also is one of the leading producers of electric motors, which was their very first product. John C. Lincoln is the founder of Lincoln Electric, which opened in 1895. He previously had been working for the Elliot-Lincoln Company who was a producer of Lincoln’s electric motors, but during the depression the company had lost so much he was forced to leave. Using the $200 he earned from redesigning an engine for Herbert Henry Dow, John opened his new business, with electric motors of his own design as the main product (Buller/Schuler, 2006). During that first few years the company grew but had some setbacks, which include a fire in the first year of operation. In 1906 John incorporated his business and moved it from a fourth floor room in a factory he was in, to a newly constructed three-story factory. He then expanded his work force and the sales grew to over $50,000 a year (Buller/Schuler, 2006). In 1907, John’s brother James joined him as a salesman and to help manage the company, as John preferred to be more involved in the inventing stage and less in the management of the products and company (www.lincolnelectric.com/corporate/about/history.asp). Over the next few years the product line was expanded...
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...managamnet strategies, thus imrove efficiency and effectivness. From the pinoeers of managamnet, like Robert Own and Charles Babbage, through the time of classical managamnet, to scientific managamnet and other contemporary theories, we have had many people with different ideas and strategies on how to imrove the managamnet of the company. This research will concentrate on the work of one of the scientific managamnet theorists, Douglas McGregor. Scientifc managamnt is a type of managamnet that emphasizes on workflows and specifically on labor productivity. Managers in this period have made a significant influence on managamnet as a whole, since this was the first time managament was considered a science. Frederic Taylor, who is considered to be the father of scientific managament, started developing scietific managament in 1880's. After his theories became famous, there were many more followers of scientific managamanet and many other theorists, like Douglas McGregor. Douglas McGreorg was born in 1906, received quality edcuation, peeking with the Ph.D. form Harward University in 1935. (The Economist) He is most famous for his book "The Human Side of Enterprise", thus his theoy of X and Y. McGregor theorizes that management should view the employees' motivation for work in two distinct ways, Theory X and Theory Y. Theory x is authoritative and it assumes that workers naturally do not like to work and that managers have to make effort to make the employees work. (The Economist) The...
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...MONTHLY: JUNE, 2015 1st Week $1,708.60 $3,455.76 2nd Week $1,708.60 $3,455.76 3rd Week $1,708.60 $3,455.76 4th Week $1,794.99 $3,455.76 MONTHLY: JULY, 2015 1st Week $1,708.60 $2,692.80 2nd Week $1,708.60 $2,692.80 3rd Week $1,708.60 $2,692.80 4th Week $1,794.92 $2,692.80 MONTHLY: AUGUST, 2015 1st Week $1,708.60 $2,692.80 2nd Week $1,708.60 $2,692.80 3rd Week $1,708.60 $2,692.80 4th Week $1,794.92 $2,692.80 MONTHLY: SEPTEMBER, 2015 1st Week $1,708.60 $3,696.00 2nd Week $1,708.60 $3,696.00 3rd Week $1,708.60 $3,696.00 4th Week $1,817.02 $3,439.20 MONTHLY: OCTOBER, 2015 1st Week $1,708.60 $4,558.40 2nd Week $1,708.60 $4,558.40 3rd Week $1,708.60 $4,558.40 4th Week $1,802.65 $4,444.44 MONTHLY: NOVEMBER, 2015 1st Week $1,708.60 $4,472.10 2nd Week $1,708.60 $4,472.10 3rd Week $1,708.60 $4,472.10 4th Week $1,786.33 $4,215.30 MONTHLY: DECEMBER, 2015 1st Week $1,708.60 $3,080.00 2nd Week $1,708.60 $3,080.00 3rd Week $1,708.60 $3,080.00 4th Week $1,794.10 $2,823.20 Monthly: January, 2016 1st Week $1,708.60 $3,080.00 2nd Week $1,708.60 $3,080.00 3rd Week $1,708.60 $3,080.00 4th Week $1,802.65 $2,823.20 MONTHLY: FEBRUARY, 2016 MONTHLY: EXPENSES MONTHLY: SALES 1st Week $1,062.40 $3,080.00 2nd Week $1,062.40 $3,080.00 3rd Week $1,062.40 $3,080.00 4th Week $1,062.40 $2,823.20 MONTHLY: MARCH, 2016 1st Week $1,708.60...
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...INTF 355 International Technology Management Course Book: Paul Trott, Innovation Management and New Product Development, 5.th Ed Learning objectives and Some Discussion Questions for Mid Term Exam • Recognise the importance of innovation • Explain the meaning and nature of innovation management • Provide an introduction to a management approach to innovation • Appreciate the complex nature of the management of innovation within organisations • Describe the changing views of innovation over time • Recognise the role of key individuals within the process • Recognise the need to view innovation as a management process. Discussion questions A number of chapters have several Pause for thought questions to help the student reflect on what they have just read to check their understanding. Examples: Not all firms develop innovative new products, but they still seem to survive. Do they thrive? This question attempts to get the students to recognise that while innovation is important it is possible to survive especially in the short term by focusing on traditional concerns such as minimising costs and generating sales. In the longer term, however, few firms will survive for long without the need to change; and that means introducing new ways of working and new products and services. If two different firms, similar in size, operating in the same industry spend the same on R&D, will their level of innovation be the...
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...Define production: According to Elwood Butta “production is a process by which goods or services are created”. Production involves the step by step convertion of one form of material into another through chemical or mechanical process with a view to enhance the utility of the product or services. 2. Characteristics features of production system? 1. Production is an organized activity. 2. The system transforms the various inputs into useful outputs. 3. Production system does not operate in isolation from the other organizational systems. 4. There exists a feed back about the activities which is essential to control and improve system proformation. 3. Define production management: “Production management deals with the decision making related to production process of that the resulting goods and service is produced according to specifications in the amounts and at the scheduled demanded and at minimum cost” – Elwood Butta. 4. What are the difference between production management and operation management? Production mgmt Operation mgmt 1. It is concerned with manufacturing 2. Out put is tangible 3. In this, job useless labour and more equipment 4. There is no customer participation 1. It is concerned with services 2. Output is intangible 3. In this, job use more labour and less equipment 4. Frequent customer participation 5. What are the functions of production mgmt? 1. Production planning 2. Production control 2 3. Factory building 4. Provision...
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...Introduction Focus Learning is pleased to submit our proposal for 2 days- The Service I.M.A.G.E Training Programme, customer service training for your organization, INTI International University, Nilai Campus. The Service I.M.A.G.E Training Programme is specifically designed to encourage and support a more customer centric workforce especially the frontlines thereby enhancing customer satisfaction and retention within your organization. Our training solution is also designed to complement, integrate and support other customer service initiatives within organisation. After reviewing this proposal, we look forward to a decision to implement the training after agreeing final fees and delivery details. Background Globally, successful customer service orientated company internationally and MNC Company within Malaysia vary from industry, Ritz Carlton (Hotel), Singapore Airline (Airline), Telekom Malaysia (Telecommunication) Rapid KL (Transportation), RHB Baking Group (Banking) etc. Their success stories have been told, retold and analysed in numerous trade and professional literatures. These service winners’ stories contain many success variables; however, they all have one common factor. The all are customer driven; hence they channel their effort and recourse to provide solutions to their customers’ needs and wants. In line with his thinking, rather than proceed at a normal or natural growth rate of the organisation, INTI can accelerate growth and profitability by leveraging...
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...LAPORAN 29 September 2013 FAMILY BUSINESS “PT. DJARUM” Oleh: Harry Santoso 0131101101 M.K. FAMILY BUSINESS MANAGEMENT S1 BISNIS PRASETIYA MULYA BUSINESS SCHOOL 2013 Visi Perusahaan: “Menjadi yang terbesar dalam nilai penjualan dan profitabilitas di industri rokok Indonesia” Misi Perusahaan: “Untuk memuaskan kebutuhan para perokok global” Nilai-Nilai Perusahaan: 1. Fokus pada pelanggan PT. Djarum selalu mengutamakan agar pelanggan selalu puas terhadap produknya, dengan memberikan harga yang relatif rendah meskipun keuntungan yang dicapai berkurang, hal ini diatasi dengan peningkatan hasil yang baik dan jumlah penjualan, selain itu juga PT. Djarum memberikan dana kepada beberapa pelanggan untuk memasarkan produknya sehingga tercipta hubungan yang sangat dekat. 2. Profesionalisme Profesional dalam membangun perusahaan secara baik, dimulai dengan perekrutan karyawan-karyawati yang potensial (salah satu elemen vitas bagi kegemilangan gerak sebuah perusahaan). Kemampuan perusahaan untuk melakukan inovasi secara terus menerus. Seiring tuntutan tersebut, PT. Djarum selalu memberikan respon yang inovatif pada konsumen. 3. Organisasi yang terus belajar Dengan keberhasilan yang diperoleh berupa penghargaan-penghargaan dan produk-produk yang inovatif, PT. Djarum tidak berpuas hati, dengan keberhasilan tersebut, PT. Djarum selalu belajar dari keberhasilan itu. Tidak hanya selalu menilai perusahaannya sendiri, PT. Djarum melakukan sharing...
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...Coursework Assignment: The Galley Cafeteria The Galley is a 150-seat canteen-style restaurant located on the top floor of an eight-storey office block. The building was originally constructed in the 1980s to house employees of a large international shipping company and is located two miles from a major city centre. At the time of construction this was a semi-derelict dockland area being earmarked for substantial redevelopment. Until 2012 the Galley was a subsidised staff canteen serving meals and snacks to company employees and providing buffet lunches for meetings and functions held in the building. Since then, however, due to increased international competition, the company has declined in size to a very great extent and now occupies only one floor of the building with the rest of the office space being rented to a variety of smaller companies. For a year the Galley continued to operate as before – only now serving the new office workers in addition to those employed by the shipping company. In 2013, however, it was sold to a commercial catering company – Lunchbox UK Ltd. Because of transfer of undertakings regulations all the existing 20 staff were re-employed by Lunchbox on their existing terms and conditions of employment. These were relatively generous, when compared with those existing for other Lunchbox employees, having been negotiated with the shipping company by representatives of the Transport and General Workers Union. The area around the building has undergone...
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...PARIS GRADUATE SCHOOL OF MANAGEMENT MBA Case Study – Assignment 1 Operations objectives at the Penang Mutiara There are many luxurious hotels in the South-East Asia region but few can compare with the Penang Mutiara, a 440 room top-of-the-market hotel which nestles in the lush greenery of Malaysia’s Indian Ocean Coast. Owned by Pernas-OUE of Malaysia and managed by Singapore Mandarin International Hotels, the hotel’s General Manager is Wernie Eisen, a Swiss hotelier who has managed luxury hotels all over the world. He is under not illusion about the importance of running an effective operation. ‘Managing a hotel of this size is an immensely complicated task,’ he says. ‘Our customers have every right to be demanding. They expect first-class service and that’s what we have to give them. If we have any problems with managing this operation, the customer sees them immediately and that’s the biggest incentive for us to take operations performance seriously.’ ‘Our quality of service just has to be impeccable. First of all this means dealing with the basics. For example, our staff must be courteous at all times and yet also friendly towards our guest. And of course they must have the knowledge to be able to answer guests’ questions. The building and equipment, in fact all the hardware of the operation, must support the luxury atmosphere which we have created in the hotel. Stylish design and top-class materials not only create the right impression but, if we choose...
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...Macy’s is one of the nation’s premier retailers but a problem has occurred with their inventory of winter apparel. The winter is near and the store knows that an influx of customers will be coming in to purchase winter apparel for their families for the winter season. The manager looked over the inventory and realized that there is a shortage in winter coats again. Macys has a recurring issue in regard to the shortage in inventory because of the department assuming how many coats they would need for the department. For the past few years this approach has worked completely fine, however, this year the department was not so fortunate. The department had sold their last winter coat and is awaiting shipment for more winter coats. During the wait the department lost substantial amount of money because customers did not want to wait for the shipment to arrive, causing customers to purchase their winter coats from other department stores. The department is motivated to implement a solution to eliminate the issue at hand. Utilizing an up to date Inventory System will eliminate the shortage of winter coats. Macy’s Current Inventory System The inventory system that Macy’s use is the Aralco Retail Inventory Management System which is Point Of Sale Software. The Aralco Retail Inventory Management System does several operations. It will track the items selling and the items not selling. Another operation the Aralco System performs is prioritizing quick selling products; adjust...
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...Management has been described as a social process involving responsibility for economical and effective planning/regulation of operation of an enterprise in the fulfillment of given purposes. It is a very dynamic process consisting of various elements and activities. Managers exist in every business. In fact, managers do the same types of tasks in all business. Whether a person manages a hair salon or a factory, the manager’s position consists of similar tasks. Planning, organizing, leading, and controlling all serve an important part in achieving management’s vision. Each component is important and one cannot function well without the others. The first component of managing is planning. A manager must determine what the organizations goals are and how to achieve these goals. Much of which comes from the vision and mission statement for the company. Setting objectives for the goal and following up on the execution of the plan, are two critical components of the planning function. For instance, if a manager at my company were to get hired in a different program, they would need a new hiring plan, contract plan, and strategy plan. Planning is necessary to ensure proper utilization of human and non-human resources. Managers are responsible for organization of the company and this includes organizing people and resources. Knowing how many employees are needed for particular shifts can be critical to the success of a company. If those employees do not have the necessary resources...
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...Hedging is a risk management strategy used in limiting or eliminating chances of loss from uncontrollable changes in the prices of commodities, currencies, or securities. A hedge is an investment position that used to reduce potential losses that may be occur in an investment for an individual or an organisation. In short, hedging is a transfer of risk without buying insurance policies. Hedge funds are designed to reduce an investment risk while maintaining a good return on investment. Hedging refers to managing risk to an extent that makes it bearable. In international trade and dealings foreign exchange play an important role. Fluctuations in the foreign exchange rate can have significant impact on business decisions and outcomes. Many international trade and business dealings are shelved or become unworthy due to significant exchange rate risk embedded in them. Hedging uses various techniques, it involves taking equal and opposite positions in two different markets (such as cash and futures markets). A hedge can be constructed from many types of financial instruments, including forward contracts, future contracts, options, swaps, many other types of over-the-counter and derivative products. Forward Contracts Generally, the most prominent instrument used in hedging for exchange rate risk management is the forward contract. Forward contracts are customised agreements between two parties to fix certain condition such as the currency exchange rate, interest rate or...
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...Company History William Proctor and James Gamble created Proctor and Gamble in 1873. William Proctor introduce him self to Cincinnati as a candlemaker, while his counterpart apprenticed himself to a soapmaker. They met by chance when they married sisters and fittingly they initiated a partnership of candlemaking and soapmakeing. A partnership then originated on October 13, 1837. In 1850 Moons and Stars became the unofficial trademark. In 1862, Proctor and Gamble profited by making candles for the Union soldiers, keeping the company afloat through good publicity. James Norris Gamble, the son of James Gamble, created Ivory in 1879. By 1980, Proctor and Gamble was a successful partnership. Producing over thirty types of soap. Excellent advertisement caused the need for more plants to be open, such as Ivorydale. With the creation of new plants, so the creation of new and improved ideas. Products such as: "˜Ivory-Flakes'-a soap for washing cloths and dishes, "˜Chipso'- the first soap for washing machines, "˜Dreft'- the first synthetic detergent for households, and "˜Crisco'- the all-vegetable shorting that changed cooking forever. The company had grown from $7,192.94 the original investment by Proctor and Gamble, to over $350 million in 1945. 53 years after the formation of the successful partnership, P&G was incorporated to gain financial capital for an expansion. The expansion carried with it the creation of Tide. Tide overtook the market and by 1959 was the leading detergent...
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