write about The expected role and direction of education quality after IR 4.0
note:
- minimum 150 words
- please don't copy-paste from websites
- this the 4th time I post this question, they all copy-paste from the website, so please write by your own words
In: Operations Management
How should I write the executive summary for a strategic analysis? What the different between the executive summary and the introduction?
In: Operations Management
Answer all 10 questions about having a Business in the " AUTOMOBILE INDUSTRY "
.
1. Do I have the persistence and patience necessary to be a business owner?
2. Does this business idea really energize me? Am I really excited about it?
3. Can I generate enthusiasm about my idea from others?
4. Am I convinced that I am exactly the right person to
own this business? Can I articulate why?
Self-confidence is important in the success of the business. You
must believe in yourself before others will believe in
you.
5. Do I have the commitment necessary to put aside other interests to focus my energy on this business?
6. Am I able to quickly recover from setbacks and not take things personally?
7. Who will support me in this endeavor?
8. Do I have enough financial reserves to carry me until I am profitable?
9. What weaknesses do I have that may get in my way as I start this business? What will I do about them?
10. What is my intuition telling me about this venture?
In: Operations Management
|
1) Is it ever strategic to file for bankruptcy? 2) When and under what circumstances? 3) Research to find a company that has used bankruptcy as a part of its business strategy. |
In: Operations Management
Discussion Questions:
Main Question:
Carmichael Corporation
Amanda Tellford, purchasing manager for Carmichael Corporation, became increasingly concerned about the purchase of MS-7, a special ingredient used in Stimgro, one of her company’s new products. It appeared that a major cost increase might threaten the product’s profitability, and Amanda was anxious to explore any alternatives that promised at least some cost relief.
CARMICHAEL CORPORATION
Carmichael Corporation was the U.S. subsidiary of Carmichael International, a UK-based producer of veterinary products and feed additives. Total U.S. sales were expected to be about $20 million with profits before taxes of about $1.2 million. Carmichael occupied a special niche in the market, offering small-volume specialty products that the bigger producers considered uneconomical. However, if sales of these products grew, the possibility existed that a larger producer might become interested. Carmichael had an exclusive distribution agreement with three distributors who covered all parts of the United States. Each distributor sold Carmichael products to feed stores, cooperatives, and farm supply stores, which, in turn, sold to the farmer. For Stimgro, the pricing structure through the distribution chain was approximately as follows:
The Carmichael plant located in Chicago employed about 70 hourly rated people. The premises were leased, and primary activities involved the mixing of ingredients and the bottling and packing of finished products. About half of the $8 million worth of ingredients was imported from the UK parent; the remainder and all packaging were purchased in the United States. The executive team consisted of Tim Paterson, president and treasurer; Charles Godfrey, sales manager; Amanda Tellford, manager of accounting and purchasing; and Andrew Hartwick, plant manager.
Carmichael Corporation concentrated on poultry medicines and feed additives. Three years earlier, Carmichael had introduced Stimgro, a feed additive for young turkeys, which had shown unusual promise in promoting rapid, healthy development in birds less than one month old. Shortly thereafter, a competitor, Brisson, introduced a similar product. Because Brisson, like Carmichael, had its own exclusive distributors, Brisson’s entry into the market did not result in lower Stimgro sales for Carmichael. Small specialty producers like Carmichael and Brisson did not compete on price or manufacturing cost. Their big concern was finding new products to sell and making sufficient profit before the product was taken over by a larger company or lost its market appeal. Carmichael and Brisson had about equal shares in the Stimgro market with annual sales of about $1.4 million each.
Carmichael imported the two primary ingredients for Stimgro from its UK parent and mixed and packaged them in the Chicago plant. The manufacturing cost for Stimgro is shown in Exhibit 1. Carmichael’s selling price of Stimgro was $360 per kilogram. Amanda Tellford had tried to find a North American source for MS-7 over the past few years but had found that all potential sources, pharmaceutical, and specialty chemical firms had declined serious interest. They claimed the volume was far too low, and the price would have to be at least $800 per kilogram before they could be persuaded to manufacture MS-7.
EXHIBIT 1Stimgro manufacturing
|
(cost/kg) |
|
|
MS-7 (500 grams) |
$ 100 |
|
Other ingredients (500 grams) |
48 |
|
Packaging |
4 |
|
Labor |
8 |
|
Overhead |
20 |
|
Total |
$ 180 |
page 329
BRISSON
Brisson Corporation was a U.S.-owned manufacturer of products similar to those marketed by Carmichael. Brisson’s range of products was greater than Carmichael’s, and its annual sales volume was about $24 million. Brisson had originally obtained its MS-7 from a UK competitor of Carmichael International, but in the spring of the current year it had placed orders for equipment to manufacture its own MS-7. This action had surprised Amanda Tellford because, like Carmichael, Brisson had been relatively poorly prepared to take this step. For example, the North American market demand for MS-7 was limited to its use by Carmichael and Brisson. Although future growth might show a healthy increase, total current market demand certainly did not warrant the $1 million investment Brisson had to make.
Moreover, MS-7 was tricky to produce, requiring very careful temperature, pressure, and timing control. The main equipment item was a large glass-lined autoclave ingeniously instrumented and constructed to deal with the unusual demands of MS-7 production. The autoclave was normally a fairly general-purpose type of equipment in the chemical industry. However, the special conditions required for the manufacture of MS-7 made this reactor a special-purpose tool, certainly overdesigned and overengineered for the other uses to which Brisson might apply it. MS-7 manufacture was a batch production process, and the expected capacity of the equipment was about 40,000 kilograms per year based on two-shift operation.
In Amanda Tellford’s eyes, Brisson’s action affected her own purchases of MS-7, which up to this point had been at an advantageous transfer price from the UK parent. Although the exact impact was still not entirely clear, she expected at least a 40 percent increase in her laid-down cost. Amanda had no doubt that Brisson would aggressively seek customs protection from undervalued MS-7 imports and that at least a 20 percent duty would be applied on the American selling price.
Amanda Tellford, therefore, requested information from the parent company concerning manufacturing costs of MS-7. She added several other data from her own knowledge and prepared the following summary:
|
Summary of MS-7 cost and price data |
|
|
Minimum equipment outlay installed |
$1 million |
|
Delivery on equipment |
9–12 months |
|
UK normal market price |
$224/kg |
|
Our laid-down current cost from Carmichael, UK |
$200/kg |
|
Carmichael (UK) out-of-pocket cost (material, labor, and variable overhead) |
$160/kg |
|
Estimated minimum laid-down cost in Chicago after Brisson starts production |
$280/kg |
Amanda Tellford went to see Charles Godfrey, Carmichael’s sales manager, to discuss possible sales requirements for the future. Charles said, “It’s really anybody’s guess. First, it depends on the popularity of turkeys. We are banking on continued growth there. Second, as soon as the feed companies can develop a suitable substitute for our product, they will go for it. We appear to be very expensive on a weight basis, although research and actual results show we represent excellent value. It takes such tiny quantities of Stimgro to improve the overall quality of a mix that it is difficult to believe it could have any impact. More competition can enter this market any day. We are just not large enough in the U.S. market to have any strong promotional impact. Each of our product lines is specialized, of relatively small volume, in an area where the big firms choose not to operate. Should a larger firm enter this market, they could flatten us. Now you tell me how to turn this into a reasonable forecast.”
Amanda Tellford replied, “I’m glad that’s your problem and not mine, Charles. Anytime you feel you’re ready to put some figures down, please let me know, because it may become very important for us in the near future.”
In looking over past figures, Amanda estimated that the second half of this year’s requirements would total about 1,000 kilograms of MS-7. Amanda decided that she had better think out the effect that Brisson’s decision to make MS-7 might have on her future purchasing strategy.
In: Operations Management
Due to concerns about the spread of coronavirus, representatives from athletic leagues across the globe have announced that they will temporarily halt play. On Wednesday, the National Basketball Association was the first to suspend competition after a player on the Utah Jazz tested positively for COVID-19. The next day, the National Hockey League similarly put games on hold while Major League Soccer delayed the start of its upcoming season as well. Shortly after these announcements, Major League Baseball canceled the rest of spring training and pushed the league’s opening day back by at least two weeks. The NCAA also announced the cancellation of all winter and spring championships, including the multi-billion dollar March Madness basketball tournament.
“This decision is based on the evolving COVID-19 public health threat, our ability to ensure the events do not contribute to spread of the pandemic, and the impracticality of hosting such events at any time during this academic year given ongoing decisions by other entities,” said the NCAA in a statement. Global sports competitions are taking similar precautions, with both Spain and England’s soccer leagues suspending play for the foreseeable future. Men’s professional tennis will also take a six-week hiatus, affecting tournaments like the Miami Open, the US Men’s Clay Court Championship, and the Barcelona Open. “This is not a decision that was taken lightly and it represents a great loss for our tournaments, players, and fans worldwide,” said Andrea Gaudenzi, chairman of the Association of Tennis Professionals.
Although the Olympics are still scheduled for this summer in Japan, organizers will be closely watching how global athletic associations continue to respond to the coronavirus crisis. With so much uncertainty surrounding this unprecedented situation, there’s no telling what the long-term consequences will be for the world’s sports leagues. Along with creating massive scheduling conflicts and logistical problems, competitions around the globe also stand to lose out on millions of dollars in revenue.
Questions:
In: Operations Management
For this assignment it requires a composition, and it will be a Synthesis of all the effort spent during the semester to develop and improve your business Idea. Be creative, be precise. You are to create a pitch presentation!
.
Ideal Proposal: Automobile Industry
.
You will need to include: ( PARAGRAPH FORM )
- Problem definition (What’s the problem that your idea solves?)
- Solution (Your idea! Product/technology /service offering)
- Target market
- Competitive advantage (Unique selling point)
- Key competitors
- Mission Statement
In: Operations Management
Assume you are a manager of a small business that employs about 25 people. You need to hire additional people to accommodate an increase in sales. Using your own experiences and information from the textbook, respond to the following points and questions. Any information taken from the book should be cited.
In: Operations Management
Hello, this question was not answered correctly. It did not give suggestions nor contain any paragraph. Please take these questions serious. thanks
In: Operations Management
According to the resource-based view of the firm, internal resources can be instrumental in attaining a sustainable competitive advantage. Using company examples, describe the various types of firm resources. Also, describe the specific criteria managers can use to decide which resources/capabilities have the potential to create a sustainable competitive advantage.
(any company can be used as an example)
In: Operations Management
Two routes are under consideration for a new highway that will take two years to complete. The long intervalley route would be 25 miles in length and would have an initial cost of $50 million for the 1st year and $30 million for the 2nd year. The short transmountain route would be 10 kilometers long and would have an initial cost of $75 million for the 1st year and $50 Million for the 2nd year. Maintenance costs are estimated at $2.5 Million per year for the long route and $1.0 Million per year for the short route for the first year. The maintenance cost is expected to rise with estimated US inflation over time. (You can estimate the inflation increase and distribution based on historical information). Based on historical information, the average US inflation rate is 3.22%. Regardless of which route is selected, the initial volume of traffic (start of 3rd year) is expected to be 400,000 vehicles per year (normally distributed with the std dev at 20,000 vehicles). The estimated driving growth in vehicles is 2% per year starting in the 2nd year after opening. This increase is uniformly distributed +/- 0.5%. Each option would have to be repaved every 5 years at a cost of $500,000 per mile in today’s cost (assume the same inflation rate at above). Assume a 20 year project window and an interest rate of 6%, what is the least expensive investment using NPV (Monte Carlo simulation of the cost)?
If the vehicle operating expenses are assumed to be $0.20 per mile, how might this analysis differ when considering the public benefit?
In: Operations Management
GLO-BUS
Are there any driving forces in the two market segments/product categories where your company competes? What impact will these driving forces have? What external market opportunities for growth and increased profitability in wearable video cameras exist for your company? What external market opportunities for growth and increased profitability in UAV drones exist for your company? What external threats to your company's future well-being and profitability do you and your co-managers see? (Market overview and relevant factor/PESTEL analysis).
In: Operations Management
Instructions:
Research a case that involves any of the employment law
concepts.
Read the case. Feel free to use secondary sources to help with
understanding the case.
Answer the following questions in your own words and in complete
sentences:
1. Who were the parties involved in the case?
2. In 3-4 sentences, what were the facts of the case (what were the
parties suing about)?
3. What law(s) were involved in the case?
4. What did the highest court decide in the case?
5. Do you agree or disagree with the court's holding? Why?
Post your answers along with the case citation as a discussion
post.
In: Operations Management
Assume you are P&G( PROACTER AND GAMBLE) company’s ethics committee and has been tasked to put together a training manual for both new and current employees.
Commitment to Ethical Behaviour Globally; What we do and What We expect in company.IN BRIEF 500 WORDS
for example : (The answer should be like this lenght and format wise.).
When working globally, it’s
important to have a deep understanding of the respect we need to have for our fellow co-workers and
the ability to empathize with somebody else who may be different. Trust and communication are an
essential part of maintaining positive, healthy, relationships within the workplace as well as your
stakeholders globally. In order to ensure employees behave appropriately and ethically its important to
have some sort of rules or policies in place that outline how the company expects their partners to
behave.
1. Having a clearly articulated set of core values is ultimately the backbone of global
policies. This also helps when making decisions in the work place or having to describe
the purpose of a specific situation. Here at Rexall we practice our icare values; Integrity,
customer first, accountability, respect, and excellence. We believe that in order to put
your best foot forward on a daily basis it’s important to be open with your co-workers
and have a line for open or anonymous communication. At the same time, it’s important
to understand and recognize the difference in other cultures including differing values.
2. We never would want to impose our will or core values on another who may be foreign
or international so it’s important to help your international employees understand what
questions they may need to ask in order to help further their business knowledge while
maintaining sensitivity to their culture and core values. It’s very important that there is
some sort of formal discussion scheduled where companies have a chance to train their
employees of the ethics and policies they require them to follow.
3. While keeping your policies consistent it’s also important to allow room for flexibility
and imagination. You don’t want to hold back your company or your employees back
from reaching their full potential. It’s critical to have a managed balance between what
is acceptable and what is not. Establishing an approach that is open to flexibility but also
healthy is important to exercise in ensuring your employees take responsibility and
adhere to good professional judgement.
It is okay to work with somebody who shares a different set of core values or views a specific situation
differently. Sometimes the behaviour of another individual may not be fully understood initially but
keeping an open mind and helping your employees understand and value how clients and peers in other
countries approach work can help address these cultural differences. This exercise is essential for
helping your company succeed in the very competitive global market. In an environment that is
constantly changing and progressing, assuming that whatever we deem as ‘right’ or ‘wrong’ as the
ultimate approach doesn’t leave room for exploration and can lead to conflict in the workplace. Instead
helping to teach your employees to not only accept these differences but appreciate them, can be
beneficial in the long run when trying to expand your company or business globally.
In: Operations Management
Whirly Corporation’s most recent income statement is shown below: Total Per Unit Sales (9,000 units) $ 270,000 $ 30.00 Variable expenses 171,000 19.00 Contribution margin 99,000 $ 11.00 Fixed expenses 54,200 Net operating income $ 44,800 Required: Prepare a new contribution format income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 90 units. 2. The sales volume decreases by 90 units. 3. The sales volume is 8,000 units.
In: Operations Management