...1 of 15 Assignm ent 2 Garment Industry Case Study MIS – Garment Industry Case Study 2 of 15 The Business Problem In common with the rest of the UK textile and garment industry, IGL faced problems of increasing competition from overseas suppliers, in particular relatively low-wage “Newly Industrialising Countries” like Hong Kong. In response to these competitive pressures, The Special Garment Group began searching for appropriate strategies to meet the challenge. In early 1983, they hired management consultants to study the future of their contract garments business. MIS – Garment Industry Case Study Organizational Structure CONGLOMERATE INTERNATIONAL GARMENTS LIMITED BOARD 3 of 15 PRODUCT GROUP 1 SPECIAL GARMENTS GROUP BOARD PRODUCT GROUP 3 CHIEF EXECUTIVE PROFIT CENTRE 1 PROFIT CENTRE n COMMERCIAL DIRECTOR FINANCE DIRECTOR DP MANAGER DP MANAGER MIS – Garment Industry Case Study 4 of 15 SADT Diagram Suppliers Retailers Business Objectives & Strategies Policies & Plans Investment Proposal Project Plan Concepts & Business Needs . Flexibility . Responsiveness Production Control MICS Development Project User Training Management Info Education & Training DP Staff (SDC & SGG) Hardware MICS Application Finance Technology MIS – Garment Industry Case Study 5 of 15 Investm ent Proposal 1. increase the proportion of high value-added merchandise 2. improve the speed of response...
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...3rd Prize Winner – Shri Raghav Jain, Birla Institute of Management Technology Mis-selling in Insurance and how to prevent it 1. Mis-selling at a glance By definition, mis-selling means selling a product by giving a wrong picture of a product, it may include, giving wrong information, giving unrealistic information, not giving full information about the product. You must have heard an insured, saying – but this was not I asked for. And, your agent accusing, but then I did mentioned all the details upfront, didn’t I? Insurance is a business of selling commitments and here is a case where this was broken. Unfortunately the product was mis-sold. Mis-selling is not unique to insurance and happens in various lines of businesses (loans, credit cards, investment products, pharmacy, hospitality etc.), but Insurance being an intangible service – the principle of Caveat emptor prevails in insurance. Often, the intermediary does not fully explain the policy details to the customer. Or the buyer (insured) is in a hurry and doesn't care to check the fine print. There have been cases reported where the agent deliberately misguided the buyer. Discussing an example of mis-selling: A person aged 54, having a handsome amount of savings with him and having no dependents (no kids and wife has passed away a few years ago), has no need of a term insurance (death benefit) but the agent may sell him this policy. A common practice that is seen in this regard is where the agent sells the policy promising...
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...3rd Prize Winner – Shri Raghav Jain, Birla Institute of Management Technology Mis-selling in Insurance and how to prevent it 1. Mis-selling at a glance By definition, mis-selling means selling a product by giving a wrong picture of a product, it may include, giving wrong information, giving unrealistic information, not giving full information about the product. You must have heard an insured, saying – but this was not I asked for. And, your agent accusing, but then I did mentioned all the details upfront, didn’t I? Insurance is a business of selling commitments and here is a case where this was broken. Unfortunately the product was mis-sold. Mis-selling is not unique to insurance and happens in various lines of businesses (loans, credit cards, investment products, pharmacy, hospitality etc.), but Insurance being an intangible service – the principle of Caveat emptor prevails in insurance. Often, the intermediary does not fully explain the policy details to the customer. Or the buyer (insured) is in a hurry and doesn't care to check the fine print. There have been cases reported where the agent deliberately misguided the buyer. Discussing an example of mis-selling: A person aged 54, having a handsome amount of savings with him and having no dependents (no kids and wife has passed away a few years ago), has no need of a term insurance (death benefit) but the agent may sell him this policy. A common practice that is seen in this regard is where the agent sells the policy promising...
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...3rd Prize Winner – Shri Raghav Jain, Birla Institute of Management Technology Mis-selling in Insurance and how to prevent it 1. Mis-selling at a glance By definition, mis-selling means selling a product by giving a wrong picture of a product, it may include, giving wrong information, giving unrealistic information, not giving full information about the product. You must have heard an insured, saying – but this was not I asked for. And, your agent accusing, but then I did mentioned all the details upfront, didn’t I? Insurance is a business of selling commitments and here is a case where this was broken. Unfortunately the product was mis-sold. Mis-selling is not unique to insurance and happens in various lines of businesses (loans, credit cards, investment products, pharmacy, hospitality etc.), but Insurance being an intangible service – the principle of Caveat emptor prevails in insurance. Often, the intermediary does not fully explain the policy details to the customer. Or the buyer (insured) is in a hurry and doesn't care to check the fine print. There have been cases reported where the agent deliberately misguided the buyer. Discussing an example of mis-selling: A person aged 54, having a handsome amount of savings with him and having no dependents (no kids and wife has passed away a few years ago), has no need of a term insurance (death benefit) but the agent may sell him this policy. A common practice that is seen in this regard is where the agent sells the...
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...Management Information System (MIS) enables small business organization to focus on solving business problems and creating new opportunity with technology. In his article titled “The impact of Management Information System effectiveness on task productivity”, Trivellas explains that “management information system (MIS) is the basic tool to support planning and controlling functions of the managers in small business organization” (2013). He states that MIS touches almost all areas of business, such as manufacturing, accounting & finance, human resource and marketing. Trivellas conducted a survey to investigate the impact of MIS in small business sector such as banking. According to his survey, MIS provides necessary information for managers so that they can able to monitor the organization’s activities and make important decisions accordingly. On the other hand, many other authors state that while MIS provides several benefits to the organization, Trivellas fails to mention the issues and the challenges associated with implementing the MIS technology. The authors find that installing MIS can be expensive for small business organization. The organization should create a separate budget to ensure that the system is current. Trivellas ignore the fact that maintenance of the system is another issue that comes along with installing MIS. Companies should hire someone to keep the system operating effectively. This increases labor cost. Moreover, MIS sometimes become ineffective...
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...MIS Mini-cases -- 1 of 30 Cases for Use in Management Information Systems MIS Mini-cases -- 2 of 30 MIS Mini-cases -- 3 of 30 Case 01 -- Freeway Ford You are a management consultant working for Franklin Absolom, the majority stockholder for a group of 10 automobile dealerships. He has asked you to spend several days at Freeway Ford, a dealership that is not performing up to its potential. You are not to go ―looking for trouble‖: instead, your assignment is to find ways to help management at the dealership take advantage of opportunities. One day while you are talking with James Kahler, the sales manager for Freeway Ford, you realize that the dealership only uses transaction processing systems—it is not realizing the full potential of the information it has gathered for managerial decision making. For example, Freeway Ford knows the purchase date and owner of every car it sells, but it never contacts owner about routine maintenance. Freeway Ford know that people who purchase a new car generally trade it in for another new car 3 to 4 years later, but the dealership does not contact these previous customers. Another opportunity comes from used car purchasing and sales. Every car has a vehicle identification number (VIN), and the dealership uses this number to check for known problems with a used car before it makes a purchase. A data bank of car insurance claims histories and major repairs is kept on a set of CDs that is sent to the dealership each month. At the...
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...Case Studies on Cardiac Function This is the first case study that is required for the class. Please submit a paper (doesn’t have to be long; you could even give me bullet-point answers to the questions listed below) that answers all of the questions posed after Case Study 1. I have included an easy second case study which, if you complete it, will be worth extra credit. Answers to the first Case Study are worth 25 points and responding to Case Study 1 is required work for the course. The extra credit, which is not required, will be worth a total of 10 points. Case 1 A.O. is an 89-year-old woman with a long history of systolic heart failure secondary to a large left ventricular infarct when she was in her 70s. She had poor activity tolerance and required assistance with activities of daily living. Even minimal activity was associated with moderately severe dyspnea and exertional chest pain, which was relieved by rest. A.O. also exhibited marked pedal edema bilaterally. She is being treated with digitalis, furosemide (Lasix), KCl, and sublingual nitroglycerin. Discussion Questions 1. Which type of heart failure (left or right sided) is usually associated with dyspnea? Left-sided heart failure is usually associated with dyspnea. What other clinical findings are likely to be present with left-sided heart failure? Other clinical findings that are likely to be present with left-sided heart failure include radiographic cardiomegaly, abnormal apical pulse and...
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...Management Information Systems - Westminster College - Fulton, Missouri Why Study Management Information Systems (MIS) at Westminster? * Our MIS program builds on the strengths of our Business and Computer Sciences offerings as well as our liberal arts education. Classes blend theory and practice in “hot” areas—issues and technologies that researchers and practitioners are currently interested in. * Each class is uniquely designed for Westminster, in response to recent scholarly findings and rising trends in the field. * Courses are not technology driven, though technology is adequately integrated into the major. Therefore, students never have to play catch-up with technology that is imposed externally. Instead, all discussions are driven by business strategy and user needs. * Majors become user and data advocates who understand that the most critical elements of an information system are not hardware and software, but the people and information. * Dr. Phelps, who designed and implemented the major, has degrees and research, and consulting experience in all of the relevant fields of MIS: business, decision science, computer science, and information technology. So, “knowing a little about a lot” allows her to see the best benefits of these synergies and bring those synergies into the classroom. Major Highlights In your formal MIS studies, you will learn organized approaches to gathering, processing, and presenting information, in order to improve...
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...Insurance culture can be developed by two important elements, understanding and trust. To be able to be aware of the positive effects of MI people need to be able to understand the product and to identify the need for it .As Michal Matul of MI innovations facility clearly explains some of the barriers,’ In most of the developing countries , low income clients think they do not need insurance they do not trust insurance , they do not understand fully the risk pooling concept and strongly believe that the insurance is just for the rich and they do not have enough resources to pay for it’ A variety of channels are needed to reach the target groups largely depending on the literacy levels of our future customers. Religious institutions: Many religious institutions have been in the market specially in sub-Saharan Africa for funeral insurance and South Asia for savings services.A few examples are as follows: Takaful/Indonesia: An Islamic insurance system:Takaful meaning joint guarantee in Arabic complies with the Arabic law. Interest rates, gambling, uncertainty of profits and losses are avoided as they are deemed unislamic.Growth rate was 5% 2004-2007 according to Swiss Re.Allianz Indonesia ‘Payung Keluarga’(family umbrella) offers a microtakaful life insurance which is distributed through MFI’s to its lenders which provides coverage in case of the death of a bread winner. According to the study done by the insurance provisions in the world’s 100 poor countries these Takaful systems...
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...BRAC University Summer'2013 BEXIMCO Group MIS Application Of Henri Fayol's 14 Principles of Management BEXIMCO Group MIS- Application of Henri Fayol's 14 Principles of Management Submitted to: Afsana Akhtar Assistant Professor BRAC Business School BRAC University Date of Submission: 13th August, 2013 LETTER OF TRANSMITTAL 13th August, 2013 To, Afsana Akhtar Assistant Professor BRAC Business School BRAC University. Sub: Submission of term paper for completion of course. Dear Madam, With high reverence we want to state that we have finished our term paper on the application of Henri Fayol's 14 Principles of Management in Beximco Group MIS in Bangladesh. While working with the term paper we got the first hand experience to learn about the applied management techniques in an organization. It helped us in gaining a new point of view on the significance of management theory like Henri Fayol's 14 Principles plays a role in effective and efficient performance of organizations such as Beximco Group MIS. We did some elaborate research and interviews and came up with sufficient resources to compile our term paper in a comprehensive manner. This term paper is valuable and a necessity to complete our course MGT211. In this term paper, all the team members contributed equally with sheer hard work. We faced some challenges in working as a team but due to everyone's collective efforts we overcame them and tried to produce this paper for you...
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...the design of the MIS. The Simon Model provides a conceptual design of the MIS and decision making, wherein the designer has to design the system in such a way that the problem is identified in precise terms. That means the data gathered for data analysis should be such that it provides diagnostics and provides a path to bring the problem to surface. In the design phase of the model, the designer is to ensure that the system provides models for decision-making. These models should provide for the generation of decision alternatives, test them and pave way for the selection of one of them. In a choice phase, the designer must help to select the criteria to select one alternative amongst the many. The idea of designed selection is the best tool available to the MIS designer, whereby he can transfer selection from a choice manufacturer to the MIS and still maintain the liability and liability with the choice manufacturer or the administrator. In case of non-programmed choices, the MIS should offer the choice assistance techniques to handle the variation in the selection conditions. The choice assistance techniques offer a general model of selection. The idea of selection techniques, such as the shut and the start techniques helps the developer in providing style versatility. The shut techniques are deterministic and guideline based; therefore, the style needs to have limited versatility, while in an start program, the style should be versatile to deal up with the changes required...
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...Word Count: 1948 “There have been several cases where the regulator has fined UK insurers for mis-selling insurance policies. Explain why such mis-selling has taken place. Will the new rule that insurers cannot pay commission on the sale of life insurance policies providing investment benefits mean that such policies will no longer be mis-sold?” For decades the insurance industry has had several issues regarding the mis-selling of insurance policies. “Mis-selling is the sale of unsuitable products resulting in customers being left in a disadvantageous position”(Wyman, 2011, P.4), and aptly stated by the Financial Conduct Authority (FCA) “financial services must be sold to you in a manner that is “fair, clear and not misleading” (www.moneyadviceservice.org.uk). There are numerous examples of mis-selling scandals such as endowment mortgages and Payment Protection Insurance (PPI) to name a select few, which shall be analysed throughout. Further to this, the reasons as to why mis-selling occurred in the first place will be discussed as well as whether, due to new legislation regarding the prohibition of commission payment, these policies will continue to be mis-sold. In the views of the economist Friedrich Hayek, due to complex taxes and the use of jargon that is alien to investors, there will always be asymmetric information and thus never a perfect market and thus resulting in the occurrence of mis-selling (Adams, 2005. P.207). Mis-selling has proved costly for UK insurers,...
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...Java Class MIS 304 is not a class for everyone. Not just any student should take the class. This class is structured to assist students in learning how to program using the Java language. This class does not make a student an expert in the language of Java, but instead gives the student the basic fundamentals needed to have practical use of the language and gives them a solid foundation upon which they can build if they choose to do so. The material covered in the class is adequate. Java can be a complex language to learn, but in MIS 304 one is taught the basics and nothing too detailed or complicated. The resources that are given to the students are very good. I know that the Java book used for the class is one of the best reference materials on Java that is on the market today. The lab facilities and proctors are also great resources. The only problem I feel that exists is that students don’t take advantage of the resources they have available. Students hardly look through their book for answering questions they might have. Also students hardly even bring their books to the lab when doing programs. They sometimes look for proctors to fix their problems instead of fixing it themselves. I think it should be emphasized to students that the proctors are not their to do the programs for them, but to rather help them figure out what is going wrong in their programs. Also it should be emphasized that the book should be with them when working on programs so that if questions or...
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...Naturally, organizations are interested in knowing the return on these investments. The impacts of IT are often indirect and influenced by human, organizational, and environmental factors; therefore, measurement of information systems (IS) success is both complex and illusive (Petter, DeLone & McLean, 2008). However the focus of this essay is on the challenges that relate to risk management of the project. Generally risk management is seen as an activity of identifying and controlling undesired project outcomes proactively (Smith & Merritt 2002 as cited in Kieran & Sharon, 2009). However, it is unfortunate that many information systems projects do not follow a formal risk management approach (Jones 1994 as cited in Marchewka, 2003) and the KYC project is one such example. Risk management processes can be an extremely powerful approach to dealing with the intricacies and uncertainties that increasingly surround information systems project and organisation if implemented well; if not risk management processes can consume valuable resources and can constitute a risk to the information system project that must be effectively managed. The level of investment in risk management within projects must be challenged and justified on the level of expected benefit to the overall project (Chapman & Ward, 2003). Two of the key challenges faced with in this this project with regards risk management are lack of organisational commitment and technical constraints. Each of which...
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...INTRODUCTION HDFC slic is one of the leading private company. It is the first private sector life insurance company to be granted a certificate of registration on 23rd October from IRDA. IT is a joint venture between Housing Development Finance Corporation, India’s leading housing finance institution and a group company of standard life , UK. Standard life ,UK, founded in 1825, has been at fore front of UK INDUSTRY for 175 years by combining sound financial judgement with integrity and reliability. HDFC AS ON 31ST DECEMBER 2008, HOLDS 72.4% OF EQUITY IN JOINT VENTURE. Associate companies are : • HDFC LTD • HDFC BANK • HDFC MUTUAL FUND • HDFC SALES • HDFC ERGO GENERAL INSURANCE OVERVIEW OF COMPANY MISSION • Customer service • Value for money for customer • Use of technology to improve service standards • Increasing market share VALUE • Integrity • Innovation • Customer centric • Team work • Joy and simplicity PEOPLE The company employes nearly around 30000 people at whole The whole nation is divided into 10 channel development zones. Each zone is divided into areas or territories. The famous people associated with company are : Mr. Deepak S. Parikh Executive chairman of HDFC Mr. .Gautam R. Divan Former chairman Midsnell group ...
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