...Riordan’s Manufacturing Strategy According to "PWC" (2008), “today, business strategy and talent management are linked as an integrated talent management framework combining organization, business process and technology. Riordan’s Manufacturing manages their human capital and talent as strategic assets. They achieved by aligning the workforce with business objectives and by use performance metrics to drive decisions, monitor and improve results. This strategy shows how Riordan Manufacturing can successfully align their talent management strategy with technology to effectively manage their workforce needs in order to be a marketplace leader of the future” (Creating an agile workforce). Riordan’s Manufacturing has adapted the mixed manufacturing strategy which combines the Stable Workforce—variable work hours and the Level strategy that is most widely applied in many industries. The mix strategy is a planning strategy that uses two or more controllable variables to set a feasible production plan. With two strategies combined Riordan Manufacturing can take advantage of a well-trained workforce because the production rates never changes, lower turnover, lower absenteeism and more experienced workers (Jacobs & Chase, 2011). The Michael (n.d.) website manufacturing performance efficiency is the level to which quality of a product is exercised. This performance efficiency should be exercised in all manufacturing processes in order for a Riordan Manufacturing to avoid wasting of...
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...Our values: Encompassing change and continuity Bosch has always been a value-driven company. Many of our values can be traced back to our founder Robert Bosch, other values have changed or have arisen over the decades. Now we have put our guiding values in writing. Our values reflect the manner in which we run our business: Our professional ethics in dealing with our business partners, investors, employees and society. Future and Result Focus In order to ensure dynamic development of our company and to guarantee longterm corporate success, we participate in shaping the changes in markets and technologies. By doing so, we provide our customers with innovative solutions and our associates with attractive jobs. We act result focused in order to secure growth and financial independence. With the dividends generated, the Robert Bosch Foundation supports charitable activities. Responsibility We accept that our actions must accord with the interests of society. Above all else, we place our products and services in the interests of the safety of people, the economic use of resources, and environmental sustainability. Initiative and Determination We act on our own initiative, with an entrepreneurial but accountable spirit, and demonstrate determination in pursuing our goals. Openness and Trust We inform our associates, business partners, and investors in a timely and open fashion of important developments within our company. This is the best basis for a trustful relationship...
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...Scenario 1: Most employee handbooks come with rules and regulations and terms of contract of the employment that any reasonable person can qualify as an expressed and implied contract. This is so because procedures, policies, and promises are present in an employee personnel manual. For instance, once an employee receives a handbook from the employer, the interpretation of this action constitutes contract. Therefore, Grey has a case if he chooses to sue NewCorp for a breach of implies employment contract expressed in the Notice of Unsatisfactory Performance and Corrective Action Plan Manual. Employment laws of the land make it illegal to terminate an employee in retaliation for an employee’s freedom speech, freedom of religion or freedom of privacy. So, if part of the reasons Mr. Grey’s job is receiving termination is for his freedom of speech at the school meeting that will be unconstitutional. The right of an employee not to be demoted, retaliated against, or fired for engaging in such legally permitted activities depends on laws of the particular states in which he or she live (Sack, 1998). The United States Supreme Court ruling states that an employee cannot be terminated in retaliation for the exercise of free speech. If Vermont is one of the state that have enacted laws governing citizen’s freedom of actions occurring outside employment sites, Mr. Grey can sue Newcorp for wrongful termination if the school meeting speech was the reason for his...
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...Week 5 assessment Ethics Game The ethical issues brought up in the assessment were a Person was buying flowers for a co-worker and she didn’t want them, he also checked on here a lot and was around her office a lot even though he worked in another area. The other ethical issue was a guy was tampering with results of a medical survey taking buy volunteers testing a drug. The results were going the way he wanted and he tampered with them and changed them to look better or more positive for the drug. The steps taken in the first issue were to talk with my advisor and take a look at our companies policies, make sure we have them available and for them to be followed. In the assessment I didn’t handle it the best way, my way was productive, but I should have had a more direct approach to it, but I did very little risk to the company. I found out that I want the least risk, which isn’t always the best way. On the second issue of falsify records I choose a more direct approach and turned in the person and showed the results of my own to the journal. I had a higher risk of 3, but I still got the situation solved. I know that the basic rules and process have to be followed, and share concerns and critiques about the rules. I also had to protect the junior researchers so he wouldn’t catch any backlash, he was doing his job, and Dr. Waters were to blame. The first ethical issue about the harassment, this issue could easily become a lawsuit for the company, you have to take...
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...Virtual Organization E-Business: Riordan Manufacturing BUS415 Virtual Organization E-Business: Riordan Manufacturing A global plastics manufacturer, Riordan Manufacturing employs over 500 people with projected annual earnings of $46 million. Riordan Industries, Riordan Manufacturing’s parent company is a Fortune 1000 enterprise with revenues in excess of $1 billion. Riordan's major clientele include automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers (Apollo Group, Inc., 2005). With manufacturing plants in Albany, Georgia, Pontiac, Michigan, and Hangzhou, China, Riordan’s e-business plays a vital role in continued growth. “E-business involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperation with business partners” (Wikipedia, n.d.). E-Business is taking new forms and enabling new business practices that may bring numerous risks. Protection of intellectual property is a major concern, but so are the value of contracts, domain names, and handling legal issues in a multinational environment. “Intellectual property rights, such as patents, copyright, trademarks, trade secrets, trade names, and domain names are very valuable business assets. Federal and state laws protect intellectual property rights from misappropriation and infringement” (Cheeseman,...
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...What is actually virtual meeting on business? Recent years, advanced technology brought a lot of new opportunities in our life and on our businesses meanwhile these technological improvements get inside our life day by day. Virtual meeting is one of these opportunities which many businesses are using it and many of them will use in the future. Virtual meeting is having a meeting by using internet connection virtually with the other branches or other related companies that you work with. “Virtual meetings will never eradicate the need for traditional face-to-face meetings, but they often provide the least expensive means of bringing people together” (2011, Mittleman). As long as companies remain, people who work within these companies will travel to other countries or cities to have meetings but virtual meeting which is videoconferencing and telepresence will decrease these travels. What are the advantages of the virtual meetings on an organization? Maybe 15 years ago, if we talked about a virtual meeting, it would be so weird but now this is very common way to have a meeting and will be more than now. There are a lot of advantages of the virtual meetings first and important one for a business is saving time. The other important advantage is saving money. These two important things are actually main factors to consider for many businesses anytime. These virtual meetings will reduce your employees to travel for a meeting sometimes these meetings can last 1 week or...
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...dilemma as your family does not want to be relocated. The project has a six-month deadline. What factors should you consider in order to make this virtual assignment effective? Answer: First of all, virtual assignments is where the employees and managers are located in different areas as in this case, the Project Manager’s office is in London whereas the other six team members are in Munich. Thus, the Project Manager has to rely heavily on communication technologies such as telephone, email or video conference. In my opinion, the factors that has to be taken into consideration include effective use of technology, invest time in building relationships and trust, provide specific intercultural training and arrange face-to-face meeting occasionally. To bring a success to virtual assignments, I will need to be aware of the full range of technology tools available to us and become practices and proficient in their use. Without familiarizing the technology, it is difficult for managers to keep in touch with the team and it might end up slowing down the team performance. For instance, it will be a waste of time discovering the function of Skype tools during the virtual meeting. Besides that, as a newly-appointed Project Manager, trust and a comfortable level of social or personal interaction are enormously important for effective virtual assignments. It is crucial for me to find ways to engage with my members and create an appropriate and effective dynamic within the team. Initially...
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...lunch menu and supply the cafeterias with the Super Donut, a low-calorie and vitamin-enriched donut; 2) provided refrigerated baked goods and changed to national distribution; 3) outsourced to independent contractors which would eliminate the need for a facility that house a full administration staff that would require compensation and benefits; 4) increased service to aid in obtaining/creating proper documentation to meet food regulations mandated by the government and customer support to strengthen relationships with noncompeting suppliers. The management of Super Bakery used activity based costing (ABC) system to monitor and control costs. This virtual organization is not a traditionally run business but has performed effectively with the use of this special costing model. This type of organization outsourced selling, manufacturing and shipping, hired a master baker & regional sales managers, and formed credit and collections group. Super Bakery’s management thought it was best to install an ABC costing system because they believed that the traditional systems didn’t clearly define any differences in the real cost. The primary focus of the ABC costing system in measuring costs at the Super Bakery is customer orders, not products. I agree with the decision that was made by Super Bakery’s management because the ABC costing system will provide more accurate data for costing of products, services, and customers. “This direct costing system has proved particularly useful...
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...BOH4M1 – Assignment New vs Old Economy NEW VS OLD ECONOMY Define the following: Old Economy: | an economy based on agriculture and manufacturing as opposed to high technology; also, a former economic system or state | New Economy: New industries, such as biotechnology or the Internet, that are characterized by cutting-edge technology and high growth. Fill in the following chart: CONTRASTS OLD ECONOMY | NEW ECONOMY | Requires control | Requires collaboration | Value is measurable | Value is emergent | Predictive | Experimental | Proximity is important | Location less significant | Assembly line focused | Community Focused | Clear boundaries and definitions | Shifting borders and consensus meaning | labour-intensive economy involving manufacturing and the movement of physical commodities | the "virtual" economy of computers and electronic commerce | creates value in a product through a simple formula: The object’s value is the sum of its obvious parts | Produces additional value by a complex interaction of the obvious parts with intangibles, like design, engineering, brand and cachet. | Pick any two points that you put in the chart and explain in your own words what it means. 1. The "virtual" economy of computers and electronic commerce (new economy). Vs labour-intensive economy involving manufacturing and the movement of physical commodities (old economy). Basically this point is explaining the change in the economy from old to new. In...
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...Virtual Organization Strategy FIN/370 October 20, 2012 Riordan Manufacturing is a Fortune 1000 company that employs 550 people with projected annual earnings of $46 million dollars. The company was founded by Dr. Riordan in 1991 and subsequently the company name was changed in 1992 to Riordan Manufacturing after Dr. Riordan obtained venture capital to expand the company. The corporate headquarters is located in San Jose, California with additional manufacturing plants in Georgia, Michigan, and China. Products include plastic beverage containers, custom plastic parts, and plastic fan parts. The company is a leader in the industry of plastic injection molding. (Virtual Organization Portal, 2012) Riordan Manufacturing wants to expand operations and they have three options when considering expansion. The three options are going public via IPO, acquiring another organization in the same industry, or merging with another organization. The company must consider the strengths, weaknesses, opportunities, and threats of each option before making a final decision on how to expand. Additionally, considerations on the financial effects of globalization, exchange rate risks, and mitigating the exchange rate risks should be analyzed if the company decides to go international. Strengths Riordan manufacturing is looking for ways to expand their business. They narrowed it down to three options which are going public through an IPO, acquisition of another organization...
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... use? Super Bakery’s challenges are to control cost by reducing the overhead for serving their customers in different parts of the country, and by doing this they can use the ABC method; Activity-Based Costing System to enhance control over overhead costs and under ABC, the company can trace many overhead costs directly to activities by allowing some indirect costs to be identified as direct costs like the customer’s order cost for every individual customer that seems to be the same amount. The managers can become more aware of their responsibility to control the activities that generate those costs. The second reason that Super Bakery’s went with ABC was because of trying to control cost in the business part of the company like, manufacturing, sales, warehousing, and shipping. By taking control of the product cost this should contribute to settling selling prices that can help them achieve desired product success. With a more precise cost data the managers could decide on whether to buy or make a product part or piece, and whether to remove a product. ABC helps the managers to minimize the amount of overhead that is payable to their product. If the overhead is payable based upon the amount of direct labor used, then the managers can minimize the amount of overhead payable to their product by minimizing the amount of direct labor use. Why did Super Bakery’s management think it was necessary to install an ABC system? The Super Bakery’s managers thought it was necessary to...
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...Inputs Both the service and the manufacturing industries require an input of labor to complete the processing necessary to satisfy their promise to the end customer. Additionally, companies in both industries require inputs from suppliers of various types. Finally, both industries require capital investment in equipment that allows their employees to do their work. The primary difference is that most of the cost of manufacturing labor is involved in procuring, transporting and manipulating physical material, while almost all service industry labor is expended on manipulating information and developing relationships. Because of this difference, capital investments in machinery and equipment are typically much higher in the manufacturing industry. Logistics Traditional manufacturing supply chain management focuses on logistics in terms of moving physical material from one location to another. The size and weight of objects being shipped and the distance from the supplier to the manufacturing facility can play a major role in the cost of the product. In service organizations, particularly in the financial sectors, these factors are irrelevant because no physical product is moving except perhaps a few sheets of paper. While the manufacturing industry tries to negotiate better shipping rates and fill containers with product to reduce unit cost, the service industry upgrades servers and installs new software to speed the flow of communication, thereby reducing the labor costs necessary...
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...Industry 4.0: The future of manufacturing Technological developments, over the years have driven dramatic increases in industrial productivity since the dawn of the Industrial Revolution. In the times since, however, these advancements were only incremental, in comparison to the ground-breaking innovations that have occurred in the IT Industry. Now, though, the rapid globalization over the past has led to establishment of many new competitors, competing for the resources necessary for success. Industry 4.0 refers to the fourth industrial revolution or the Techie Industrial Revolution It will have a higher impact and require less implementation of new equipment (40-50%)1. Industry 4.0 is enabled by disruptive technologies that are expected to change the manufacturing sector by 2025 through significant innovation2. The first industrial revolution involved saw the adoption of steam power. The second industrial revolution or Industry 2.0 was all about the rise of electricity and the 3rd revolution was the digital revolution when electronics broke the market. The transformation to the new age Industry entails the inclusion of sensors, machines, workpieces, and IT solutions along the value chains and beyond a single enterprise. This will enable the connected systems to interact for predicting failure and adapting to such circumstances. Consequently, manufacturing productivity increases, fosters industrial growth and in turn will change the face of competition in the factories...
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...Iranian automotive industry and global economy: Future study based on game theory Ebrahim Nabiuny, Reza Madjidzadeh, Monir Sadat mirjamali Mehrabadi and Sohaila Alahverdizadeh Jihad Daneshgahi, Markazi province, Iran Key words Game theory, chaotic trends, automotive industry. Abstract Being one of the main drives of Iranian industrial development, automotive industry has been received government extensive attention in order to become competitive. There are many backward and forward linkages between automotive industry and other industries because of technical and structural properties of that. Thus development of Iranian economy is closely related to the competitive advantage of Iranian automotive industry. This paper tried to develop a primary forecast of industry future equilibrium and trends under the condition of nongovernment protection based on chaotic learning in game strategies. Forecasting possible equilibrium lead us to improve strategic behavior and establishing the win-win situation. Despite the adoption of some network strategies in Iranian automotive industry, there is still a single nature and because of activity in low – risk with middle income, this industry does not have the ability to compete in highly competitive markets. More investment on the national car with quite unique coordinates and quality and prepare the low risk financial resources are the needs of the industry in the global economy. Introduction It is essential to do futurology studies...
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...Electronics Contract Manufacturing: Global Production and the International Division of Labor in the Age of the Internet Boy Lüthje Institute of Social Research Johann Wolfgang Goethe-Universität Senckenberganlage 26 60325 Frankfurt Germany E-mail: luethje@soz.uni-frankfurt.de Submitted for publication to Industry and Innovation – special issue on “Global Production Networks, Information Technology and Local Capabilities”, coordinated by Linsu Kim and Dieter Ernst Comments welcome, please do not quote December 2001 2 The role of information technology for production networks in developing countries cannot be assessed without an analysis of the profound changes in the productive structure of global capitalism. In contrast to the general perception of the “informational economy” (Carnoy e.a. 1993, Castells 1996) as service- or science-based, it has to be stressed that in the "new economy" manufacturing continues to matter (Cohen/Zysman 1987). In the electronics industry, a new model of outsourced manufacturing has emerged as a centerpiece of globalized production networks: Contract Manufacturing (CM) or Electronics Manufacturing Services (EMS). This form of network-based mass production closely linked to the emergence of the “Wintelist” (Borrus/Zysman 1997 model of competition and the rise of “fabless” product design companies in key sectors of the information technology (IT) industry. Our analysis of electronics contract manufacturing explores three interrelated...
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