British Mercantilism Essay -- essays research papers

Monetary thoughts and frameworks travel every which way. Numerous frameworks have fizzled and many have succeeded. The British arrangement of mercantilism was entirely a decent framework for England. They rounded up benefits from their provinces. The main issue was that they didn't give enough financial opportunity to their states. At pretty much every turn, the British attempted to confine what their settlements could do and whom they could exchange with. Looking back, I accept that the British may have been more indulgent on their limitations on the grounds that the consistent forbiddances in the long run lead to revolution†¦ Britain didn't legitimately control its settlements. Rather, they let business entities control and give assets and groceries to the provinces. Current organizations discover their underlying foundations in these Joint-stock organizations. The business entities were contained a gathering of business people who gave the assets to all the journeys and supplies. The individuals financing the organization generally controlled the province also.      The Dominion of New England was set up by English authorities to join the settlements into one safeguard against the Native      Americans. It was controlled by a man named Andros, who started to exact assessments on all the homesteaders without first getting contribution from the different congregations from the provinces. The Dominion of New England was in the long run overwhelmed. Andros was being scanned for in light of the failings of this Dominion, so he sought shelter and attempted to get away from the provinces by dressing like a lady. In any case, his boots parted with him.      The pilgrims were developing increasingly more disappointed by the financial framework the British were constraining on them, and afterward the Molasses Act came. This Act put high duties on sugar, molasses and rum brought into New England in a push to forestall pilgrim exchange with the French West Indies sugar islands of Martinique and Guadeloupe. English sugar traders on the islands of Barbados, Antigua and Jamaica had griped to Parliament. The law was sanctioned to limit non-British exchange and to additionally implement the idea that exchange was to be done uniquely on British claimed ships. In light of this Act, the pioneers started to sneak merchandise into the states.      Parliament likewise passed a progression of Navigation Laws, which further limited exchange from the states. Cromwell old fashioned... ...particle and thoughts and to assemble frontier solidarity, and, in 1774, these boards arranged the route for the First Continental Congress. The delegates at this First Continental Congress, aside from a couple of radicals, had not met to think about freedom, however wished uniquely to convince the British government to perceive their privileges. An arrangement of compromise offered by Joseph Galloway was dismissed. It was concurred that the states would decline to import British merchandise until provincial complaints were corrected, those complaints were recorded in petitions to the ruler, and the congress suspended.      The British trade framework was destined for catastrophe from the second that the settlers set foot on the new mainland. From the outset the British gave the pioneers a specific sentiment of autonomy, at that point they put the neckline on and anticipated that the homesteaders should do everything that they asked them to. What occurred in the American provinces is an extraordinary case of the line â€Å"Give them an inch, they’ll take a mile.† The British set up the settlements in bringing in cash, which was the general purpose behind mercantilism. Nonetheless, you can’t anticipate that individuals should bow down and obey until the end of time. English Mercantilism Essay - articles research papers Financial thoughts and frameworks travel every which way. Numerous frameworks have fizzled and many have succeeded. The British arrangement of mercantilism was entirely a decent framework for England. They rounded up benefits from their settlements. The main issue was that they didn't give enough financial opportunity to their states. At pretty much every turn, the British attempted to confine what their provinces could do and whom they could exchange with. Looking back, I accept that the British may have been more indulgent on their limitations in light of the fact that the consistent disallowances in the long run lead to revolution†¦ Britain didn't legitimately control its settlements. Rather, they let business entities control and give assets and staples to the provinces. Cutting edge enterprises discover their foundations in these Joint-stock organizations. The business entities were involved a gathering of business visionaries who gave the assets to all the journeys and supplies. The individuals subsidizing the organization typically controlled the province too.      The Dominion of New England was set up by English authorities to join the states into one safeguard against the Native      Americans. It was controlled by a man named Andros, who started to impose burdens on all the pilgrims without first getting contribution from the different congregations from the states. The Dominion of New England was in the end overwhelmed. Andros was being scanned for due to the failings of this Dominion, so he hid and attempted to get away from the provinces by dressing like a lady. Be that as it may, his boots parted with him.      The homesteaders were developing increasingly more disappointed by the monetary framework the British were constraining on them, and afterward the Molasses Act came. This Act put high duties on sugar, molasses and rum brought into New England in a push to forestall pilgrim exchange with the French West Indies sugar islands of Martinique and Guadeloupe. English sugar shippers on the islands of Barbados, Antigua and Jamaica had griped to Parliament. The law was sanctioned to limit non-British exchange and to additionally implement the idea that exchange was to be done uniquely on British claimed ships. Because of this Act, the settlers started to sneak merchandise into the states.      Parliament likewise passed a progression of Navigation Laws, which further limited exchange from the settlements. Cromwell old fashioned... ...particle and thoughts and to fabricate pilgrim solidarity, and, in 1774, these boards of trustees arranged the path for the First Continental Congress. The agents at this First Continental Congress, aside from a couple of radicals, had not met to think about autonomy, yet wished distinctly to convince the British government to perceive their privileges. An arrangement of compromise offered by Joseph Galloway was dismissed. It was concurred that the settlements would decline to import British products until frontier complaints were corrected, those complaints were recorded in petitions to the lord, and the congress suspended.      The British commercial framework was bound for debacle from the second that the pioneers set foot on the new mainland. From the outset the British gave the pioneers a specific sentiment of freedom, at that point they put the neckline on and anticipated that the pilgrims should do everything that they asked them to. What occurred in the American settlements is an incredible case of the line â€Å"Give them an inch, they’ll take a mile.† The British set up the provinces in bringing in cash, which was the general purpose behind mercantilism. In any case, you can’t anticipate that individuals should stoop down and obey until the end of time.

Tissue engineering Essay Example | Topics and Well Written Essays - 1000 words

Tissue designing - Essay Example ed to conventional techniques as it takes care of twin issues of benefactor shortage and the dangers of tissue transplant dismissal including transmission of sicknesses (Gomes and Reis, 2004, p. 738). Tissue building is a generally new field of research and there is a lack of certain scholarly logical materials and research examines. It is normal this new field will bigly affect the arrangement of social insurance in the coming years when progressively complex bio-materials are required for utilitarian tissues like bones, ligament or huge bone fragments (on the same page.) and even complex organs. Foundational microorganism inquire about has been valuable up until this point however there are such a significant number of moral and other good issues included which has frustrated enormous scope endeavors toward this path. Tissue building has no such moral contemplations as it doesn't include undeveloped immature microorganisms. This new procedure holds a lot of guarantee from the clinical and financial outlooks as it skirts moral issues while possibly offering a lot of lower expenses to the patients. As model, the world market for bone unions shows half are from autologous unions while just 10% are from manufactured bio-materials along these lines demonstrating generous space for development as far as neglected market need. This completely unique methodology means to support ailing, damaged or lost tissues to recover themselves or grow organically satisfactory substitutes utilizing homogeneous or heterogeneous cells. The new procedure is on the other hand called as regenerative medication or as re-productive medication utilizing either autogeneic cells or remote cells. Over the span of leading examination, clinical researchers inadvertently discovered statins are useful in the development of bone tissues. This incidental or unplanned revelation is a lot of suggestive of the way Viagra (sildenafil citrate) was found to be useful in restoring ED while throughout directing exploration for finding a fix of numerous heart-related sicknesses like aspiratory blood vessel hypertension, angina pectoris and

Announcing our 2016 Talent Search winners in the US and Canada

Announcing our 2016 Talent Search winners in the US and Canada At Khan Academy, our mission is to provide a free, world-class education for anyone, anywhere. Our mission is ambitious, and we can’t do it alone. We need great explainers to create instructional videos, practice exercises, and reference articles to contribute to our growing library of content.That’s why we ran the Khan Academy Talent Search again in the US and Canada this June - to find great video creators and amplify their voices. (Weve also got a talent search in India! Click here for information.) We asked this year’s contestants to focus on a range of subjects from biology and psychology to geography and statistics. We received 1,300 video applications, and were blown away by the quality, passion, and ingenuity.After reviewing all applications, we selected ten winners: one overall winner and nine finalists.We were looking for videos that explain academic concepts with clarity and depth, are friendly and conversational, and laser-focused on helping students when they most need guidance - whether they are learning a concept for tomorrow’s test, completing their homework, or reviewing what they learned in class. These 10 videos clearly exemplify these qualities:Overall winner - Alison Caldwell: Parts of the Brain Finalist - Abraham Feinberg: Nature vs. Nurture - Part 1 Finalist - Alexandra Evans: Writing in the Ancient Near East Finalist - Brian Macon: Confidence Intervals and Central Limit Theorem Finalist - Jay Lin:  Neurotransmitters Finalist - Kelly Squires: Plate Tectonics Finalist - Robert Lochel: Chi-Squared Goodness of Fit Tests Finalist - Ron Maxwell: Moon phases explained - middle school level Finalist - Steve Yang: Bernoullis Equation Revisited Finalist - Sonal Nalkur: Gender, Norms, and Occupations Scroll down to see all 10 videos. The overall winner receives a $3,000 cash prize and finalists receive $300. All winners are considered for content creation opportunities at Khan Academy.Although our talent search is over in the US and Canada, we’re still looking for great creators to bring content to learners around the world. Check out our careers page for current job openings on our content team.  As previously mentioned, we’re running an India Talent Search to identify great video creators who can create content aligned to India’s academic standards.Check out the 10 winning videos!  Overall winner Alison Caldwell: Doctoral student in neuroscienceParts of the Brain Alison’s video description: The brain is a complex organ, and even though it all kinda looks the same, it turns out that different parts of the brain do different things. In this video, well go over all of the major parts of the brain, including the occipital, temporal, parietal, and frontal lobes. And we’ll even cover some of the other structures that get taken for granted. Get ready to fall in lobe!Why we selected this video as the overall winner: ‘Parts of the brain’ covers the academic concepts deeply and rigorously, and Alison’s delivery throughout the video feels friendly and conversational while staying focused on what a student needs to know for class. You might have guessed that one of the reasons we selected this video as the overall winner is its high production values (engaging special effects, beautiful brain illustrations, etc.). While these certainly make the video enjoyable to watch, high production values aren’t a factor in our scoring. We look for videos that display exceptional clarity, approachability, and a focus on student needs - all qualities this video exemplifies.Check out more videos by Alison.Meet our nine Talent Search finalists!Abraham Feinberg: College science teacher and data analystNature vs. Nurture - Part 1 Abraham’s video description: Are your behaviors a fixed, inevitable result of your genes? Or are they the result of the people and objects that surround you? In this video, well take a first look at the concept of Nature vs. Nurture, and well try to get a beginning idea of why its such an important issue in many different areas of psychology (and everyday life!).Check out more videos by Abraham.Alexandra Evans: Policy instructor, Foreign Service InstituteWriting in the Ancient Near East Alexandra’s video description: People have been drawing pictures for tens of thousands of years, but when did we really start to write things down? How did we develop written words from pictures? In this video, well take a look at the very first writing systems, Sumerian cuneiform and Egyptian hieroglyphs, and well trace how pictures evolved into written words.Check out more videos by Alexandra.Brian Macon: Full-time faculty, full-time father and husband, part-time PhD studentConfidence Intervals and Central Limit Theorem Brian’s video description: What is the connection between the Central Limit Theorem and Confidence Intervals? In this video we will use a computer simulation to answer that question. The simulation will help us visualize the nature of sampling distributions as we begin our conversation about using estimates to make future predictions.Check out more videos by Brian.Jay Lin: Medical student and educational video producerNeurotransmitters Jay’s video description: How exactly do drugs affect the brain? This video will go over the normal chemical signaling in brain cells, and then explore the different ways drugs can change this normal signaling.Kelly Squires: Retired middle school teacherPlate Tectonics Kelly’s video description: Whether were aware of it or not, the earths crust is in a constant state of motion. A whole lot of colliding, dividing and sliding of massive chunks of lithosphere called plates, is happening very slowly but surely, right this very second. The reason for this remarkable movement is plate tectonics. In this video, well explore the cause of plate tectonics, the major plates found throughout the earth and the various landforms such as mountain ridges, valleys, volcanoes and faults that result from the plates movement.Robert Lochel: High school math teacherChi-Squared Goodness of Fit Tests Robert’s video description: Are hospital births equally distributed through the week, or are some days more likely? A chi-squared goodness-of-fit hypothesis test is used to compare the variability present in the data to what could reasonable occur by chance alone, and the big ideas behind these categorical tests are explained.Check out more videos by Robert.Finalist: Ron Maxwell: Middle school science teacherMoon phases explained- middle school level Ron’s video description: A simple talk to help you learn the phases of the moon and the way the moon phases happenCheck out more videos by Ron.Finalist: Sonal Nalkur: Visiting Assistant Professor of Sociology at Emory UniversityGender, Norms, and Occupations Sonal’s video description: Why do some occupations seem to have a higher proportion of men or women? And does a person’s gender always have implications in the workplace? Many sociologists are curious to understand the reasons why the labor market looks the way it does. We also want to understand the specifics about why some people might be excluded or treated differently in the workforce. In this video, you’ll be introduced to some of the concepts that allow sociologists to ask bigger questions about how gender might operate in various occupations.    Finalist: Steve Yang: Recent graduate of Rensselaer Polytechnic InstituteBernoullis Equation Revisited Steve’s video description: Engineering principles are often built upon concepts that you may have already learned in math and physics. In this video, we’ll see how we can adapt and expand the energy form of the Bernoulli’s Equation to the hydraulic head form to better suit the needs of engineers.Check out more videos by Steve.

Minority Shareholder Watchdog Group - Free Essay Example

Sample details Pages: 10 Words: 3116 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? Introduction There are two types of shareholders, namely the majority shareholders and the minority shareholders. Minority shareholders refer to those who own less than 50% of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s shares and thus do not possess voting power in the company. Generally, those who have shares in a company must follow the majority rule. Don’t waste time! Our writers will create an original "Minority Shareholder Watchdog Group" essay for you Create order However, the law has granted several rights to the minority shareholder to protect their interests. There are three basic rights of minority shareholders, namely, right to seek information, right to voice opinion and right to seek remedy. The minority shareholder will also have the right not to be compelled to take over more shares without his consent in writing. This is provided under section 33(3) of Companies Act 1965.[1] Besides, the minority shareholder will also have the right to make application of winding up the company. This can be found under section 218 of the Companies Act[2]. Next, the minority shareholder is also granted with the right to seek relief in cases of oppression or unfair discrimination.[3] Section 181 of Companies Act 1965 states that, à ¢Ã¢â€š ¬Ã…“Any member of a company may apply to the Court for an order on the ground that the affairs of the company are being conducted in a manner oppressive to one or more of the members or that some act of the company has been done which unfairly discriminates against one or more of the membersà ¢Ã¢â€š ¬Ã‚ .[4] Besides, the minority shareholder will also have the right to request to the Court to make an order to call an Annual General Meeting. This is stipulated under section 143(4) of the Companies Act 1965[5]. On the other hand, section 148(1) of the Companies Act also clearly indicates that the minority shareholder will also have the right to attend any general meeting of the Company and to speak and vote on any resolution before the meeting.[6] Furthermore, section 149(1) of the Companies Act further states that the minority shareholder appoint another person or persons as his proxy to attend and vote instead of himself at a meeting of the Company.[7] On the other hand, the minority shareholders may also exert pressure on the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s directors to be more accountable and transparent.[8] Generally, all shareholders, including minority shareholders should also have the r ight to seek remedy when their rights have been violated. In Malaysia, the Minority Shareholder Watchdog Group which was formed on 30th August 2000 provides protection to minority shareholders of public companies over their interests. What is Minority Shareholder Watchdog Group The Minority Shareholder Watchdog Group (MSWG) was established in Malaysia on 30th August 2000. It was formed to promote and protect the interests of minority shareholders in public company through shareholder activism. Through years, the Minority Shareholder Watchdog Group has now become an independent research organization on matters regarding corporate governance. It helps to enables minority shareholders of public companies to become aware of their basic rights as shareholders such as right to seek information, right to voice opinion and right to seek remedy.[9] The right to seek information refers to the right to know about the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s price sensitive information, right to be sent the Notice of General Meetings, right to have a copy of annual report and audited accounts, right to inspect the Minutes of General Meetings and right to know what is happening in the company. On the other hand, the right to voice opinion refers to those rights such as right to attend general meetings, right to request the court to order the company to call a general meeting, right to be heard during shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ meeting and right to vote and elect directors and auditors. Next, the right of minority shareholders to seek remedy is provided under section 181 of the Companies Act 1965[10]. Besides, the MSWG also assists minority shareholders to raise issue of concerns to the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s board of directors. Furthermore, the MSWG also organizes various educational programs for retail shareholders.[11] On the other hand, the objectives of the Minority Shareholder Watchdog Group are laid down in its Memorandum and Articles of Association. There are several objectives being laid down. Firstly, the MSWG was formed to act as the Forum for minority shareholders to share their experiences concerning Malaysian Code in issue such as Corporate Governance, the Securities Commissionà ¢Ã¢â€š ¬Ã¢â€ž ¢s Disclosure-Based Regulations, and the Capital Markets Master plans. Next, the second objective of MSWG is to develop and promote the corporate governance in educational aspects. Furthermore, it was also set up for the purpose of becoming the Think-Tank and Resource Centre in Malaysia which deals with the interest of minority and matters of corporate governance. Besides, it provides platform for the management of public listed companies to carry out collective shareholder activism on questionable practices. Next, another objective of MSWG is to help in monitoring any breaches and non-compliance in practices of corporate governance by public listed companies. Besides, it was set up to initiate reports to regulatory authorities.[12] Next, there are four founding organizations of Minority Shareholder Watchdog Group. The founding organizations are the organizations that provided the start-up fund to the Minority Shareholder Watchdog Group. The first founding organization is the Armed Forces Fund Board. It was established in August 1972 with the aims of giving retirement and other advantages to the Armed Forces members and to ensure that members of volunteer forces are entitled to take part in a savings scheme.[13] Secondly, another founding organization of MSWG is the National Equity Corporation which was incorporated on 17th March 1978. It was formed to act as an important tool of the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s New Economic Policy with the purpose of promoting Bumiputeraà ¢Ã¢â€š ¬Ã¢â€ž ¢s share ownership in the corporate sector and developing chances for suitable Bumiputera professionals to involve in the wealth creation and management. Thirdly, the next founding organization is the Social Security Organization (S OCSO) which was formed in year 1971 under the Ministry of Human Resources. Its aims are to ensure and promote occupational health and safety. Lastly, the fourth founding organization is the Pilgrimage Board. It was established in November 1962 with the purpose of enabling Muslims to save their money gradually. The savings can be used for expenditure during pilgrimage or other beneficial purposes. Besides, the Pilgrimage Board also encourages Muslims to participate actively in investment activities which are permissible in Islam through their savings and safeguards the welfare of Muslims during their pilgrimage through different types of facilities and services provided. Today, the Minority Shareholder Watchdog Group is basically funded by the Capital Market Development Fund and also from the sales of its own products and services. [14] Roles and Objectives of Minority Shareholder Watchdog Group The Minority Shareholder Watchdog Group (MSWG) was setup in August 2000[15] and it is not a profit based body. Its aim was to promote and encourage shareholder activism, especially among the least cared and minority shareholders. In Malaysia, MSWG generally works and services people with the objective of preserving shareholder rights, minimize risks to shareholders and eventually help to boost up the value of the capital market. Recently, the MSWG had actively participate in all kind of activities in which issues relevant to minority shareholders and retail investors had been highlighted and given proper attentions. By doing this, their credibility had been built up. The MSWG has also play important role in leading initiative for the development and enlargement of important institution such as Best Practices for Institutional Shareholders. The MSWG had conducts annually surveys such as the Corporate Governance Survey, Directors Remuneration Survey and others. It is therefore able to render proxy services for the minority and retail investors.[16] The M SWG is moving towards becoming a totally independent and self-sustainable institution that stand strong the rights of minority shareholders.The obvious role of MSWG is to enhance Shareholder Activism and Protecting Minority Interest and at the same time develop and propagate the education perspective of corporate governance. It also acts as a platform to start up and discuss on unethical, immoral behaviors and questionable practices for the benefit of the shareholders as a whole. In addition, decision making process in public-listed companies also heavily influenced by the motive and direction of MSWG. MSWG hence works as a guidance to monitor the breaches of statutory duties and non-compliance in corporate governance practices. As mentioned above, it is the forum for minority shareholders to share their experiences in the context of the Malaysian Code on the Capital MarketsMaster plans and Corporate Governance. Besides, MSWG works well as information gathering center for upho lding minority interest and concerning the management of cooperative matters in Malaysia. In the meanwhile, MSWG acts as check and balance in the sense that to develop and spread the corporate governanceà ¢Ã¢â€š ¬Ã¢â€ž ¢s educational aspect. It does not only works as spokesman for regulatory authorities but also acts as an effective deterrent to abusive forces and at same time prohibits activities that could have exploit the interest of the minority shareholders. Lastly, The MSWG provides service at minimum fee which enables investorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ proxy advisory and also proxy voting services.[17] In short, MSWG normally act to protect the interest of minority shareholder and even provides them remedy if they face any defect or disadvantages in the share transactions in Malaysia. Corporate Governance of MSWG The Minority Shareholder Watchdog Group (MSWG) was established to guard the interests of minority investors through shareholder policy. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s o ne avenue of market discipline to encourage sensible governance amongst public listed corporations with the target of raising investor price over time. MSWGs objectives are started in an exceedingly Charter beneath its memo and Articles of Association. The first one is to become the Forum on minority shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ experiences within the context of the Malaysian Code on company Governance, the Securities Commissionà ¢Ã¢â€š ¬Ã¢â€ž ¢s Disclosure-Based regulations, and also the Capital Markets Masterplans. Besides that, to become the Think-Tank and Resource Centre for minority interest and company governance matters in Malaysia. On top of that MSWG aiming to develop and circulate the educational aspects of company governance as well as in becoming the platform to initiate collective investor policy on questionable practices by management of public listed corporations. In order to achieve the objectives MSWG also need to influence the choice creating method public ly listed corporations because the leader for minority shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ legitimate rights and interests. Moreover monitoring for breaches and non-compliance in company governance practices by public listed corporations is also one of the objectives. Lastly, it is to initiate wherever applicable, reports to restrictive authorities and reworking MSWG into a good deterrent of such events or activities that may be against the interest of the minority shareholders. The MSWG was discovered to make awareness among minority shareholders of their 3 basis rights to hunt data, voice opinion and obtain redress.[18] In recognition of its public mandate to spearhead investor policy that is one in all the key tenets of company governance the CMDF has been supporting the MSWG since 2005. To date, the MSWG has been productive in increase their quality by their active participation in AGMs and EGMs, wherever the MSWG highlight issues and problems relevant to retail and minority share holders. The MSWG has conjointly led an industry initiative for the event of Best Practices for Institutional Shareholders. The MSWG conducts yearly surveys Malaysia public listed corporations, like the Directors Remuneration Survey, company Governance Survey and also the Dividend Survey, and is ready to supply proxy services for minority and retail investors. The MSWG is functioning towards turning into a completely independent and self-sustainable organization representing the rights of minority shareholders.[19] With Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s push towards responsible investment, MSWG is presently spearheading the formulation and development of the Malaysian Code for Institutional Investors (Code) in line with one amongst the recommendations of the company Governance Blueprint 2011 (CG Blueprint), that made public strategic initiatives geared toward reinforcing self and market discipline. The Code is meant to administer institutional investor steerage on effective exercise of situation responsibilities to confirm delivery of property worth to their final beneficiaries or purchasers. Institutional investors are inspired to be the signatories of the Code that is expected to be launched by the second quarter of 2014. In yet one more development, MSWG has been appointed by the Securities Commission (SC) to be the domestic ranking body in Malaysia to assess Malaysian PLCs victimisation the ASEAN CG scorecard methodology wherever the highest fifty corporations would be mentioned within the ASEAN CG Country Report and hierarchical below the Malaysia-ASEAN CG Index 2013.[20] This appointment was in recognition of MSWGà ¢Ã¢â€š ¬Ã¢â€ž ¢s record in closing the assessment of CG practices among PLCs in Malaysia through the mcg Index since 2009. The findings of the Malaysia-ASEAN CG Index 2013 showed that the common base score for the highest one hundred corporations in Malaysia had raised to seventy five.77 points in 2013 from sixty eight.2 points within t he previous year reflective an overall rising in CG awareness among the listed corporations. In line with the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s agenda of promoting corporations with good environment, Social and Governance (ESG), the card has enclosed parameters that measure such disclosures that I see as pertinent because it is accustomed gauge and verify the ESG levels and gaps which will be addressed. As for all, MSWG is also promoting the publication of AGM minutes to produce data on the Conduct of AGMs so the amount of transparency and answerability in corporations is stepped-up.[21] MARKET RESPONSE TO MSWG ACTIVISM The Minority Shareholder Watchdog Group policy is to induce the manner of the companies in conduct the power of ownership so that companies expand and apply successful strategies and high standards of governance, thereby maximizing returns for owners. (Hendrikse, 2004). The activism comes as shareholders that rewarded companies for asset growth, now are demanding e arnings growth, better stock performance and richer dividends. Shareholder activism is a broad concept with many forms. There are a wide variety of actions and behaviour that could justifiably fall within the ambit of shareholder activism. However, no matter which form is chosen the end-game is to effect change; whether in management, the capital and asset structure or strategic direction. The MSWG-targeted firms earn significantly higher positive returns as compared to non-targeted firms. Thus, the company will analyze the reactions of share prices. The analysis will begin from day-0 . Our event window begins on day à ¢Ã¢â€š ¬Ã¢â‚¬Å"30 and ends on day +5 to determine the impact over a short event window, while this window is extended to day +30, +60 and 1 year to gauge impacts over a longer event window. The company will compute raw buy à ¢Ã¢â€š ¬Ã¢â‚¬Å"and-hold returns [22]as well as market-adjusted returns[23], the latter of which is the value-weighted KLCI Index[24] returns ov er the respective event windows. In the year 2013 was the second year MSWG corporate with the ASEAN Corporate Governance Scorecard[25] to acess 826 Malaysian public listed companies. Earlier on, MSWG had used Malaysian Corporate Governance (MCG) Index Scorecard in 2009 and 2011 but it was later alter to Asean countries agreed to use a standard methodology that could be applied across the whole region. In the nutshell, MSWG targets those firms with high return and high levels of institutional shareholdings. It is targeted firms with high levels of cash holdings and relatively lower amounts of debts on their balance sheets. In addition, with easy cash flow and agency cost theorie by applying equity returns data, in searching for companies [26]with good return and reliable to earn profit in short term and over the long run as compared to non-targeted firms. [1] Companies Act 1965, s33(3) [2] Companies Act 1965, s218 [3] Tommy Thomas, à ¢Ã¢â€š ¬Ã‹Å"Protection of Minority Shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ [1984] 1 CLJ 10 [4] Companies Act 1965, s181 [5] Companies Act 1965, s143(4) [6] Companies Act 1965, s148(1) [7] Companies Act 1965, s149(1) [8] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Protecting Minority Shareholders during Times of Financial Turmoilà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.asli.com.my/DOCUMENTS/capital market summit/Mr Abdul Wahab Jaafar Sidek.pdf accessed 4th August 2014 [9] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Equitable Treatment of Minority Shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.oecd.org/daf/ca/corporategovernanceprinciples/41076424.pdf accessed 4th August 2014 [10] Companies Act 1965, s181 [11] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Protecting Minority Shareholders during Times of Financial Turmoilà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.asli.com.my/DOCUMENTS/capital market summit/Mr Abdul Wah ab Jaafar Sidek.pdf accessed 4th August 2014 [12] Minority Shareholder Watchdog Group, à ¢Ã¢â€š ¬Ã‹Å"Objective, Vision and Missionà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.mswg.org.my/page.php?pid=85menu=sub accessed 10th August 2014 [13] Lembaga Tabung Angkatan Tentera, à ¢Ã¢â€š ¬Ã‹Å"Objektifà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.ltat.org.my/webltat/index.html accessed 4th August 2014 [14] Minority Shareholder Watchdog Group, à ¢Ã¢â€š ¬Ã‹Å"Who Are Weà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.mswg.org.my/page.php?pid=36menu=sub accessed 4th August 2014 [15] Minority Shareholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s Watchdog Group, Dana Pembangunan Pasaran Modal, Capital Market Development Fund. To date, the MSWG has been successful in building up their credibility by their active participation in AGMs and EGMs, where the MSWG highlight concerns and issues relevant to retail and minority shareholders. [16] OECD Investment Policy Reviews OECD Investment Policy Reviews: Malaysia 2013, pg 173, Paragraph 5.3.The MSWG has been pivotal in providing a platform for providing a platform for collective shareholder activism on questionable practices by management of public. [17] The Impact of minority Shareholder watchdog group activism on the performance of targeted firms in Malaysia, Rashid Ameer and Rashidad Abdul Rahman, pg 76. These subscribers are given advice on how to ask questions and raise issues at AGMs or EGMs. The modus operandi of the MSWG is to write letters known as MSWG letters to corporate secretaries in targeted firms to highlight major issues for clarification or to solicit the details from the board in forthcoming AGMs or EGMs [18] Rashid Ameer and Rashidah Abdul Rahman, THE IMPACT OF MINORITY SHAREHOLDER WATCHDOG GROUP ACTIVISM ON THE PERFORMANCE OF TARGETED FIRMS IN MALAYSIA (web.usm.my 2009) https://web.usm.my/journal/aamjaf/Vol 5-1-2009/5-1-3.pdf accessed 6 August 14 [19] Minority Shareholders Watchdog Group (cmdf.org.my ) https://www.cmdf.org.my/364_221_221/Web/WebPag e/Minority-Shareholder-s-Watchdog-Group/Minority-Shareholder-s-Watchdog-Group.html accessed e.g. 6 January 14 [20] Code for institutional investors (cgmalaysia.blogspot.com 2014) https://cgmalaysia.blogspot.com/2014/01/code-for-institutional-investors.html accessed 6 August 14 [21] (mswg.org.my ) https://www.mswg.org.my/page.php?pid=141action=previewmenu=main accessed 6 August 14 [22] is a passive investment technique in which shareholders continue to hold onto their stocks, regardless of market conditions. Its an interesting approach, with some market theory to back it up. [23] A concept that refines an investments return by measuring how much risk is involved in producing that return, which is generally expressed as a number or rating. Risk-adjusted returns are applied to individual securities and investment funds and portfolios. [24] The FBMKLCIwill be part of the FTSE Bursa MalaysiaIndexSeries. It is calculated based on globally acceptedindexmethodology, which is transparent to inspire confidence. Theindexwill be computed based on free float adjusted market capitalization. [25] ACMF and the ASEAN Corporate Governance Scorecard [26] There are 35 firms in which the MSWG have tried to initiate board changes and 15 firms in which MSWG stopped merger and acquisition deals.

A Brief History of the Microscope

During that historic period known as the Renaissance, after the dark Middle Ages, there occurred the inventions of printing, gunpowder and the mariners compass, followed by the discovery of America. Equally remarkable was the invention of the light microscope: an instrument that enables the human eye, by means of a lens or combinations of lenses, to observe enlarged images of tiny objects. It made visible the fascinating details of worlds within worlds. Invention of Glass Lenses Long before, in the hazy unrecorded past, someone picked up a piece of transparent crystal thicker in the middle than at the edges, looked through it, and discovered that it made things look larger. Someone also found that such a crystal would focus the suns rays and set fire to a piece of parchment or cloth. Magnifiers and burning glasses or magnifying glasses are mentioned in the writings of Seneca and Pliny the Elder, Roman philosophers during the first century A. D., but apparently they were not used much until the invention of spectacles, toward the end of the 13th century. They were named lenses because they are shaped like the seeds of a lentil. The earliest simple microscope was merely a tube with a plate for the object at one end and, at the other, a lens which gave a magnification less than ten diameters -- ten times the actual size. These excited general wonder when used to view fleas or tiny creeping things and so were dubbed flea glasses. Birth of the Light Microscope About 1590, two Dutch spectacle makers, Zaccharias Janssen and his son Hans, while experimenting with several lenses in a tube, discovered that nearby objects appeared greatly enlarged. That was the forerunner of the compound microscope and of the telescope. In 1609, Galileo, father of modern physics and astronomy, heard of these early experiments, worked out the principles of lenses, and made a much better instrument with a focusing device. Anton van Leeuwenhoek (1632-1723) The father of microscopy, Anton van Leeuwenhoek of Holland, started as an apprentice in a dry goods store where magnifying glasses were used to count the threads in cloth. He taught himself new methods for grinding and polishing tiny lenses of great curvature which gave magnifications up to 270 diameters, the finest known at that time. These led to the building of his microscopes and the biological discoveries for which he is famous. He was the first to see and describe bacteria, yeast plants, the teeming life in a drop of water, and the circulation of blood corpuscles in capillaries. During a long life, he used his lenses to make pioneer studies on an extraordinary variety of things, both living and non-living and reported his findings in over a hundred letters to the Royal Society of England and the French Academy. Robert Hooke Robert Hooke, the English father of microscopy, re-confirmed Anton van Leeuwenhoeks discoveries of the existence of tiny living organisms in a drop of water. Hooke made a copy of Leeuwenhoeks light microscope and then improved upon his design. Charles A. Spencer Later, few major improvements were made until the middle of the 19th century. Then several European countries began to manufacture fine optical equipment but none finer than the marvelous instruments built by the American, Charles A. Spencer, and the industry he founded. Present day instruments, changed but little, give magnifications up to 1250 diameters with ordinary light and up to 5000 with blue light. Beyond the Light Microscope A light microscope, even one with perfect lenses and perfect illumination, simply cannot be used to distinguish objects that are smaller than half the wavelength of light. White light has an average wavelength of 0.55 micrometers, half of which is 0.275 micrometers. (One micrometer is a thousandth of a millimeter, and there are about 25,000 micrometers to an inch. Micrometers are also called microns.) Any two lines that are closer together than 0.275 micrometers will be seen as a single line, and any object with a diameter smaller than 0.275 micrometers will be invisible or, at best, show up as a blur. To see tiny particles under a microscope, scientists must bypass light altogether and use a different sort of illumination, one with a shorter wavelength. The Electron Microscope The introduction of the electron microscope in the 1930s filled the bill. Co-invented by Germans, Max Knoll, and Ernst Ruska in 1931, Ernst Ruska was awarded half of the Nobel Prize for Physics in 1986 for his invention. (The other half of the Nobel Prize was divided between Heinrich Rohrer and Gerd Binnig for the STM.) In this kind of microscope, electrons are speeded up in a vacuum until their wavelength is extremely short, only one hundred-thousandth that of white light. Beams of these fast-moving electrons are focused on a cell sample and are absorbed or scattered by the cells parts so as to form an image on an electron-sensitive photographic plate. Power of the Electron Microscope If pushed to the limit, electron microscopes can make it possible to view objects as small as the diameter of an atom. Most electron microscopes used to study biological material can see down to about 10 angstroms--an incredible feat, for although this does not make atoms visible, it does allow researchers to distinguish individual molecules of biological importance. In effect, it can magnify objects up to 1 million times. Nevertheless, all electron microscopes suffer from a serious drawback. Since no living specimen can survive under their high vacuum, they cannot show the ever-changing movements that characterize a living cell. Light Microscope Vs Electron Microscope Using an instrument the size of his palm, Anton van Leeuwenhoek was able to study the movements of one-celled organisms. Modern descendants of van Leeuwenhoeks light microscope can be over 6 feet tall, but they continue to be indispensable to cell biologists because, unlike electron microscopes, light microscopes enable the user to see living cells in action. The primary challenge for light microscopists since van Leeuwenhoeks time has been to enhance the contrast between pale cells and their paler surroundings so that cell structures and movement can be seen more easily. To do this they have devised ingenious strategies involving video cameras, polarized light, digitizing computers, and other techniques that are yielding vast improvements, in contrast, fueling a renaissance in light microscopy.

Extraversion and Neurotism Free Essays

TAKE-HOME ESSAY #2 Psy 2300, Fall 2012 †¢The second take-home essay will be worth 20 points. You may use your textbook, D2L resources, and class notes. You may NOT collaborate with fellow students! †¢Essays must be double-spaced, with 1-inch margins and a reasonable font size (e. We will write a custom essay sample on Extraversion and Neurotism or any similar topic only for you Order Now g. , 12 point). †¢PLEASE CAREFULLY PROOFREAD YOUR ANSWERS FOR CLARITY TYPOS; excessive proofreading errors will result in a deduction of points, as will a failure to follow the formatting requirements above! †¢The essay should be 1-3 pages long and organized into coherent paragraphs. Please organize your essay according to the subdivisions provided (a, b, c, etc. ). You do not need to use a formal essay format (introduction, body, conclusion). †¢Please use your own words whenever possible. If you feel you must quote from class notes or the textbook, cite the source properly. †¢You may answer any ONE of the three questions provided. If you answer more than one, only the first one will be graded. †¢Essays are DUE in the Dropbox by 9:59 p. m. on Friday, November 9th. 1. Compare and contrast the Big Five with EITHER Eysenck’s model OR Tellegen’s model (i. . , identify similarities and differences). If you choose Tellegen, focus on the three higher -order traits; just refer to the primary scales as examples if applicable. Think about how the models were derived as well as the meaning of the traits themselves. Then discuss which of the three trait models covered in class you prefer and whether you think any important aspects of personality are left out of the three models. Make sure you JUSTIFY your choice of favorite model by presenting at least two distinct reasons. 2. Consider what it means to be high in the traits of Extraversion and Neuroticism (separately). Then make connections between each trait and current concern theory. Specifically, address how being high in these traits might influence: †¢Which types of goals people pursue †¢How their goal pursuits affect them (emotionally and cognitively) †¢How they progress through the incentive-disengagement cycle when a goal is blocked What I’m looking for here is a thoughtful discussion of how being high in E and being high in N might affect people’s motivational processes, using concepts from Klinger’s current concern theory. It may help to refer to the low ends of these traits to provide a contrast with the high ends (e. g. , â€Å"unlike introverts, when extraverts pursue a goal†¦ †). 3. If you’d like to be a little creative, tell a â€Å"story† about a person with a particular configuration of traits. Specifically, choose AT LEAST THREE of the Big Five OR Tellegen’s primary traits (if you choose Tellegen, make sure to pick one trait from each higher-order factor). The person can be purely hypothetical or based on someone you know; I even had students discuss the fictional characters Dwight (from â€Å"The Office†) and Borat! Describe how that person typically behaves based on how they score on the three traits you select. For example, â€Å"Ralph† might be high C, low N, and medium O. What might Ralph’s behavior patterns be like? His interpersonal relationships? His goal pursuits? Would his trait configuration lead to any particular problems in his life? What I’m looking for is a clear understanding of the traits you choose and the ability to APPLY those traits to a realistic scenario in which the traits can interact with each other. Have fun! [NOTE:I have a sample full-credit essay posted on D2L to help with this option! ] How to cite Extraversion and Neurotism, Essay examples

Operations Management †Critical Issues and Problems Essay Sample free essay sample

Introduction The concern direction maps and activities can be clearly grouped in three major direction countries including Marketing. Finance and Operations. Almost all of the concern subjects lie under the umbrella of these three chief maps ( Anupindi et al. 2006 ) . Among these chief countries operations direction is an of import 1 that deals with managing and guaranting the efficiency and effectivity of all the operations undertaken by the concern so that these operations can back up the organisation to run into its strategic ends. There is broad scope of activities and maps that are performed under the operations direction like planing the systems in a manner to efficaciously utilize the natural goods or input in the production of finished and concluding goods and services while keeping the company criterion. Thus it can be said that â€Å"Operations Management is one of the major map of the concerns that is concerned with the planning. programming. and commanding all the activities that tra nsform the inputs in to the outputs† ( Davis et al. 1999 ) . Here inputs refer to the natural stuff and human resources whereas end product refers to the finished goods and services being produced by the concern. Operations Management is a systematic concern activity that must be undertook by an organisation by decently following the set of widely recognized every bit good every bit good developed constructs. tools and techniques so that the concern can pull off its operations while staying within an acceptable model of activities and maps ( Finch and Byron. 2006 ) . In general the operations direction might be considered as something related with the fabrication environment nevertheless it is a broad country that covers the direction of all the activities and stairss involved in the proviso of goods and services. In order to successfully run the concern. it is really indispensable for the direction of the organisation that it must develop such schemes and policies that can ensue in equal direction of operations so that the concern can execute its production procedure in satisfactorily mode. This is an of import country of accent for the concern directors because it involves the direction of the affair related with the important figure of employees and physical assets and uneffective operations direction can take the concern at extremely hazardous place that might go a menace to the being and endurance of the concern. ( Rainbird and Mark. 2004 ) This paper is aimed at placing the critical issues and major jobs that the concerns face in the country of operational direction. In this respect foremost of all the paper explains the importance of operation direction for an organisation and so discusses and identifies the nucleus issues and jobs related with this of import subject of concern direction. In the visible radiation of the research work contributed by different societal scientists and experts of the field. the paper besides proposes some suggestions with the purpose to convey out the solution to the jobs and issues raised in the paper. Operations Management – Importance for Businesses Operations Management is an of import country of concern direction that involves the direction of each and every measure in supplying a good and service. Over the last few decennaries there is considerable addition in the consciousness and acknowledgment of the importance of this concern subject and the organisations have now realized that they have to concentrate on better operations direction in order to successfully carry on their concern and compete with others in the market. The important rise in the foreign competition. increased handiness of the consumers towards different goods and services. shorter merchandises with service life manner. more educated every bit good as quality witting consumers and the outgrowth of new communicating and fabrication engineerings are the of import factors that have played the major function in finding the importance of operations direction for a concern. These factors have besides built a force per unit area on the organisations that in order t o aline their concerns with the rapid and radical alterations happening in the market. they have to better their productiveness through effectual operations direction so that they can fulfill the lifting demands of the consumers by supplying them wide array of high quality merchandises and services. Due to advancement in information and communicating engineering the consumers now have greater entree to the services and merchandises produced in different parts of the word and even if they can non do any purchase. they can procure batch of information about the handiness of different characteristics and installations in different merchandises and services. Due to this consciousness there is considerable addition in the demands and outlooks of the consumers and now the companies have great challenge in forepart of them that they have to run into the demands of good cognizant consumers who have batch of options in forepart of them sing the choice of good and services. In such state of affairs the companies can catch the attending and keep the trueness of the consumers merely by turn outing them high quality merchandises and services and all this is possible merely through effectual. efficient and strategic operations direction. Thus it can be said that globalisation has significantl y contributed towards recognizing the importance of operations direction for the concerns and most of the organisations now believe that they can utilize operations direction as a competitory arm that can beef up them in the extremely competitory market topographic point of today. Based of the above mentioned factor. Operations direction has secured an every bit of import place in the organisations like finance and selling and the direction of the concerns now emphasis more and more on operations direction because they are cognizant of the fact that to accomplish the cardinal aims of the organisation and the overall corporate scheme they need strong support from operations direction and in instance of failure in pull offing the operating. it will be non merely hard but even impossible to them to run into the organisational aims and increase profitableness. In this scenario the operations directors have to execute a really responsible occupation for the organisation because they have to play a strategic and tactical function to guarantee the satisfaction and trueness of the consumers and at the same clip they besides have to work to take their house at a better place as compared with the market rivals by guarantying high quality of goods and services. Critical Issues in Operations Management There are some really critical issues that come under the subject of operations direction and the people responsible for the direction of the operations of the concern are apt to execute the duty of guaranting the quality by carry oning proper quality control. capacity planning to guarantee flow of inputs and end products from the operations topographic point. stuff planning to guarantee the quality of the finished merchandise. buying the needed end products at needed clip and scheduling all the activities related with the production procedure so that the company can bring forth the goods or service at right clip while keeping the specific criterion of the company. The operations directors have to cover with figure of of import issues during their work for illustration they have to find they what input will come in the operating system and in this respect they have to do major determination sing the type. nature and figure of equipments. Numberss and skilled degree of the work force. tools. installations. quality and measure of stuff. engineering. devices and information. Along with doing the determination about the above mentioned factors. the operations directors besides have to make up ones mind the manner through which all of these inputs can be obtained to utilize in the operating system and what would be the best possible and suited manner of using all of these inputs so that they can keep their criterion and can besides fulfill the demands of the competitory market topographic point. At present different techniques and constructs are being applied and implemented in other concern direction countries every bit good such as human resource direction and selling etc. ( Raturi et al. 2005 ) In today’s competitory market topographic point there are some major issues in operations direction. The operations director have to plan such schemes that can cut down the development and fabrication clip of the goods and services so that the company can acquire more clip to concentrate on related affairs. At the same clip the operations director besides have to accomplish and prolong high quality in the fabrication of the merchandises and services by commanding the cost of production. In operations direction. the concerns are chiefly concerned with two types of issues ; the long term direction of operations and the intermediate term direction of the concern operations. In the long term operations direction the directors have to develop a strategic attack towards the operational system of the company and they have to do some really cardinal determinations related with the merchandises and services production of the company. For long term operations direction the company has to make up ones mind what merchandises or service they will bring forth. what would be the process used and machinery. tools. engineerings used in the fabrication of the merchandise. what will be the topographic point where the full production will be done and how much measure of the merchandises and service will be made by the company. Therefore in the long term. the direction is concerned with the issues of choosing the service or merchandise for the development. procedure and layout determina tions sing the merchandise and service. the location of the site and the capacity or measure of fabricating merchandise and service. In intermediate term the operations directors have to take some tactical determination related with the operational system of the company. The operations directors have to concentrate towards the issues associated with the efficient programming and agreement of the input including maternal and work force in the operations system in such a manner that these input can be efficaciously used in bring forthing the merchandises and services of the measure and quality that is decided by the direction during the long term operations direction determinations. To achieve this nonsubjective the operations director have to make up ones mind the material measure and figure of the employees and their accomplishments degree required for the production of merchandise and services. the clip of doing the input available in the operations system and the direction of the clip tabular array for the work force so that the targeted sum of merchandises and services can be produced within the estimated clip. Thus the intermediate degree operations direction is to concentrate on the issues like make up ones minding the employee degree. stock list degree and capacity. Common Problems faced by Organizations in Operations Management There are some major jobs that are faced by the concerns while pull offing the operations due to some mistake in their schemes and be aftering related with the operations direction. An of import map of operations direction is to cut down the operational cost and increase the operational efficiency and quality nevertheless some companies fail to cut down the cost of the production and as a consequence the consumer monetary value of their merchandise is really high and on economical footing some of the consumer start preferring other trade names over the company’s merchandise. This is a debatable state of affairs for the concerns because this led to worsen in their gross revenues and net income and it is one of the major defects of the schemes and planning of the operations director that they fail to fulfill the consumers by supplying them acceptable quality at acceptable monetary values. ( Krajewski et al. 1993 ) It is by and large observed that despite supplying equal input to the fabrication system. the concerns still fail to accomplish their ends and their place in the market topographic point is besides severely effected. This is because the work force is non motivated plenty to play positive function in the production procedure or the sections of the concern done have effectual coordination among them and they do non back up the determinations taken by each other. This state of affairs brings many jobs for the operations directors and for the success of a concern it is really necessary that all of these jobs must be solved by the direction and there should be effectual and successful direction of the operations system of the concern. ( Krajewski et al. 1993 ) Proposed Solutions to the Identified Problems The above treatment revealed that there are some of import issues in operations direction that must be dealt in effectual mode to guarantee the successful accomplishment of the organisational aim and the operations director frequently face jobs in efficaciously pull offing these affairs. There is really important importance of the fact that the concerns must cognize that how can they pull off their operations in most effectual mode and what are the stairss and schemes that must be taken for effectual operations direction. In this respect the societal scientists and experts have carried out several research surveies to convey out the solutions to this job and there are many solutions proposed by the research workers that assist the concerns by supplying some guidelines for better operations direction. Anupindi et Al ( 2006 ) pointed out that in order to efficaciously manage the common jobs arise in the operations direction. it is really indispensable that the operations director must possesses the accomplishments and qualities to cover with the affairs related with the operations direction. The research workers explained that the operations director has the taking function in finding the successful direction of the operations system of the concern so it is really imperative that the operations director must hold equal cognition of all the engineerings. trifles and methodological analysiss related with his relevant industry so that he can pull off the affairs related with the production of the merchandises in suited mode. In add-on to this the operations directors must possess good interpersonal accomplishments and he must maintain him familiar with all the functional countries of the concerns so that the determination he made will non clash with any other concern scheme. Sean Naughton ( 2002 ) besides put frontward some ways to cover with the jobs of operations direction. He explains that the interpersonal accomplishments of the operations director are really of import because he must hold the ability to pass on and organize with all the related people of the organisation so that he can efficaciously actuate people to work expeditiously in a disciplinary mode and carry through the ends while keeping the high criterions of quality. Raturi et Al ( 2005 ) suggested some ways to meet with the critical issues of operation direction and revealed that the operations directors besides have to look for new ways through which the operation systems can be improved. In this respect they must incorporate new engineerings. techniques and control system in the fabrication procedure so that the operations system can be updated with the promotions of engineerings. The direction besides has to plan the enlisting and choice policy of the company based on virtue and high skilled standard so that qualified and skilled directors and employees will come in the house and take efficient function in the fabrication and production procedure. James M. WIlson ( 1995 ) explains that the coordination and communicating links with all the other sections of the organisation and the providers and clients should besides managed in effectual mode so that all the sections and related organisations can play a supportive function in accomplishing th e strategic ends of the organisation. Decision The paper was chiefly intended to through visible radiation on the importance of operations direction for the concern and the chief jobs and nucleus issues within this concern subject are besides identified to happen the ways towards the solutions of the jobs in the visible radiation of research surveies conducted by different societal scientist. The above treatment revealed that operations direction is an of import field for the concern directors because in the extremely competitory and technological advanced market topographic point of today the concerns are required to be more updated. The consumers are acquiring more cognizant and extremely demanding sing the quality of the merchandises and services and the concerns on the other manus are confronting great challenges in signifier of increasing competition due to globalisation. Therefore in this state of affairs operations direction is the strategic tool that can help the concerns in run intoing the consumer demands and accomplish ing their organisational aims. However there are some critical issues that must be kept in consideration by the direction for the effectual direction of the operations because the concerns frequently face jobs in pull offing their operations due to figure of grounds like deficiency of coordination between sections. deficiency of motive of employees and failure in production cost control. In this respect the paper suggests that the operations director has the critical function to play in this scenario so the concern must choose the operations director for the company who is to the full cognizant of the trifles of the relevant field and besides possess first-class interpersonal accomplishments so that he can do develop good coordination and communicating accomplishments with all the sections of the organisation and related people and can besides actuate the employee to give their best. Thus the treatment can be summarized in to the decision that the accomplishments. makings. cognition. experience. strategic planning and interpersonal communicating abilities of the operations director plays the cardinal function in confronting and get bying up with all the critical issues and jobs that the concerns frequently face in operations direction. Mentions Anupindi. Ravi. Sunil Chopra. Sudhakar D. Deshmukh. Jan A. Van Mieghem. and Eitan Zemel ( 2006 ) . â€Å"Managing Business Process Flows: Principles of Operations Management† . Upper Saddle River. New jersey: Pearson Prentice Hall. 2006 Davis. Mark M. . Nicholas J. Aquilano. and Richard B. Chase ( 1999 ) . â€Å"Fundamentals of Operations Management† . 3rd erectile dysfunction. Boston: Irwin McGraw-Hill. 1999 Finch. Byron. â€Å"Operations Now† . 2nd erectile dysfunction. . Boston: McGraw-Hill Irwin. 2006. James M. WIlson ( 1995 ) . a historical position on Operations Management. Production and Inventory Management Journal Krajewski. L. J. . and L. P. Ritzman ( 1993 ) . Operations Management: Scheme and Analysis. Addison -Wesley Publishing. 1993 Rainbird. Mark ( 2004 ) . â€Å"A Model for Operations Management: The Value Chain. † International Journal of Operations and Production Management 34. no. 3/4 337–345 Raturi. Amitabh. and James R. Evans. Principles of Operations Management. Mason. Ohio: Thomson Southwestern. 2005 Sean Naughton ( 2002 ) . Operations Management: in a hebdomad. Chartered Management Institute

Organisational Capacity Development

Introduction Capacity development may be defined as a process that intends on improving group, organisational, individual, community, or institutional skills in order to implement critical functions, solve problems, define objectives, and deal with issues in a sustainable manner.Advertising We will write a custom coursework sample on Organisational Capacity Development specifically for you for only $16.05 $11/page Learn More Main perspectives on capacity building Organisational capacity building centres on four principal components and these include organisational development, resource development, community linkages, human resources, and services and programming. Organisational development covers, boards, administration and staff. With regard to boards, organisational capacity building ensures that the board functions serve a company’s mission. They also ascertain that boards consider a company’s linkages with communities, as well as the p rograms that it may be engaging in. Furthermore, boards need to think about the administrative and resource issues in their organisation during organisational building (Morley et al., 2001). Organisational development also centres on administration. Here, organisational capacity concerns itself with the administrations’ ability to strengthen procedures, practices and policies so as to make significant progress. Additionally, organisational development in capacity buildings also covers staff. Employees need to complement a company’s efforts by improving their skills and supporting company initiatives (Smilie, 2001). These efforts must all be aligned with a company’s mission. Capacity building also concerns itself with resource development. Here, a firm needs to consider fund development, operations budget and communications. Under fund development, the organisation needs to have a fund development approach that facilitates sustainable and realistic growth (Edward s, 2000). Communications issues are essential in any organisation that needs to develop. In this regard, capacity building allows companies to maximise their attractiveness as well as their visibility within the right segment of the targeted community. In resource development, an organisation must focus on the operations budget. Organisational capacity building entails increasing financial support in order to carry out company operations effectively.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Community linkages are a vital component of capacity building, as well. Here, one must concern oneself with strengthening relationships between various parts of the community and the organisation. Community linkages also involve leadership skills. Organisational capacity building gives companies the ability to increase their leadership expertise. This means that the organisation can be better able to meet its goals and its missions. Lastly, community linkages in capacity building facilitate momentum increments and increases in support thus leading to progress in company missions (Kaplan, 2000). Services and programming are also another essential part of organisational capacity building. They involve program design, strategic activities and company practice. In program design, the company can improve the utilisation of its programs. This allows it to bring value benefits to the program’s targeted users. Strategic activities involve creating a portfolio of support activities, grants and projects that will allow one to achieve full impact in a certain part of the company. Additionally, capacity building causes many firms to strengthen their approaches towards projects or issues that the company had done before. Human resources involve improving the standards and quality of the human resources in a company. This encompasses developing the skills, attributes, percepti ons, values and common sense of the personnel (Ubels et al., 2010). Traditional and modern approaches of enhancing capacity building Senior managers in both traditional and modern companies consider resources as critical components of capacity building. However, the major difference between in these schools of thought is the nature of interventions that companies take to build capacity. The classical approaches advocate for the provision of more resources such as staff, equipment or tools, and finances as interventions in resource use. These adherents believe in quantity or expansion approaches. Modern organisations do not just focus on increasing resources; they also focus on proper management and use of the existing resources. For instance, a company can train its staff members, the board members or volunteers that work with the firm.Advertising We will write a custom coursework sample on Organisational Capacity Development specifically for you for only $16.05 $11/p age Learn More Rapid changes in technology and human resource skills necessitated this changes in technology and human resource skills hence the need to train organisational members (Chabbott, 1999). Furthermore, dwindling resources caused many companies to think of innovative ways of maximising their resources. Changes in technology allow companies that to alter resource use. One method is the use of computer software to handle company routines and internal management. Alternatively, some modern companies use accounting software to handle their transactions. This has eliminated the need for additional staff and time needed to complete paper ledgers. All these issues are causing modern organisations to focus on the quality of resource use rather than quantity. Traditional organisations previously focused on strengthening their capacities through economic methods. In this regard, they believed in using their product mix, their sources of revenue and their marketing act ivities to boost their stability. However, this may not be the only approach for modern organisations. Several of them are embracing political strategies to strengthen themselves. In other words, economic methods are not the only alternative. When doing this, some organisations participate in elections by contributing towards campaigns. Alternatively, others may use lobbying strategies. This focuses on legislators who can then change some of the public policies that affect them. Other firms are working on mobilisation of public opinion. Therefore, modern approaches to capacity building are becoming politically oriented, rather than economically oriented (Hula Jackson-Elmoore, 2000). The rapidly changing competitive landscape has caused modern companies to alter their structures. This means that instead of using hierarchical structures as was the case in traditional firms modern organisations now have heterogeneous approaches (Eade, 2007). This allows companies to maximise the auton omy of their employees as well as their skills and abilities. Such an approach is in line with the need to provide quality rather than quantity in organisational development.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Modern organisations differ from traditional companies because the latter only focused on organisational development while modern ones now combine organisational development with sustainable development. They dwell on strengthening themselves while at the same time preserving the environment. This involves performing one’s economic activities alongside ecological support systems. These concerns do not just reflect manufacturing companies’ orientations; companies in different segments have embraced them and are changing the way the do business. When including this term in their endeavours, companies normally focus on natural, economic and social capital. The three kinds of capital are often not substituted, and when consumed they might not be reversible. Therefore, these three kinds of capital often substitute one another. The biggest challenge to organisations is to strike a balance between resources that are both economical and natural. Many of them use environmentall y friendly processes and facilities to meet this challenge. Conclusion Capacity building involves the development of organisations and resources, establishment of community linkages and development of services and programming. Companies can develop these areas differently depending on whether they use classical approaches or open system approaches. The former entities believed in expanding or increasing resources while modern firms advocate for better management of resources. Furthermore, current businesses believe in implementation of fewer structures and use of uneconomic approaches to strengthen themselves. References Chabbott, C. (1999). Constructing world culture. Stanford, SUP. Eade, D. (2007). Capacity building: an approach to people-centred development. London, Oxfam. Edwards, M. (2000). Enthusiasts, tacticians and sceptics: Civil society and social capital. Kettering review, 39-51 Hula, R. Jackson-Elmoore, C. (2000). Organisational adaptation to changing environments in th ree policy areas. Westport, Quorum Books. Kaplan, A. (2000). Capacity building: shifting the paradigms of practice. Development in practice, 4(10), 517-526 Morley, E., Scott, B. Hatry, H. (2001). Comparative performance measurement. Washington DC, The Urban Institute Press Smilie, I. (2001). Patronage or partnership: local capacity building activities. UNFCCCCC report, 12. Ubels, J., Acquaye-Baddoo, N. Fowler, A. (2010). Capacity development in practice. Capacity, 3, 45-52 This coursework on Organisational Capacity Development was written and submitted by user Ava Becker to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Art appreciation class Essay Example

Art appreciation class Essay Example Art appreciation class Paper Art appreciation class Paper Aesthetics simply means relating to, appreciating, or perceiving the beautiful. Beauty, if it can be defined simply, means whatever captures your heart for that moment in time that you have been blessed. We are always told that beauty is in the eye of the beholder, but I think it is the perspective of that eye that makes anything even more beautiful. Beauty can be something to perceive or observe, but only when the spectator becomes a participant, can someone truly begin to appreciate it for all that it may have to offer. Many people may agree that something is beautiful, but the depth of that beauty can eventually become fathomless beyond the point of imagination if experienced. I remember fondly when, as children, we would run wildly across the field and lie on our backs as we let the blades of grass tickle our ears while the warm summer wind blew across the yard and swirled around us. The leaves of the trees could be heard taking deep breaths for the thicket just across the fence from where we would be. We would lie there gazing at the sky as the stage full of performing clouds of every shape and size would dance in front of us. For the adults, it must have appeared that our internal engines had finally run out of gas as we would limply fall or jump on the ground, when actually, play had merely taken a different form for a while. Those memories and visions are beautiful to think about; especially when considering the simplicity of life back then, and even more fun to remember when time stops and allows for reflection. Aesthetics is, as a parent, being able to watch my kids do similar things and it warms my heart like a warm July sun. Hearing the laughter ring through the air as they run and jump and play games that are not full of restricting rules, and barriers of guidance; watching them as they run in circles chasing leaves that are blowing across the ground, or catching flutter-bys on the wildflowers in the meadow. It is almost as if they are teasing the children to try and catch them if they can, and as the tiny creature grows weary of the game, it simply flies higher into the sky, out of reach, and away from the commotion. The children are simply bound by the ideal of being able to be together and have fun. Falling down means you simply get back up and run again without concern of hurt or pain because you have a task at hand that needs immediate attention have fun. Somewhere in the deepest part of all our lives, is a special moment in time where we thought we could live forever. The days of Peter Pan and Wendy and never growing up were at one point in our lives, something we thought we could do; some may have even believed they could fly like those fabled characters or have powers like their favorite superhero. So if the saying beauty is in the eye of the beholder is true, then things like hearing a babys laugh, and seeing a childs first steps; or looking into your lovers eyes must surely be things of beauty. But when it is all said and done, in those last fleeting moments of life, if there is a loved one to offer a hand to hold, then all things transcend from being beautiful, and they become priceless.

D7 Assignment Example | Topics and Well Written Essays - 500 words

D7 - Assignment Example Likewise, the war that ensued in 1941 caused â€Å"white men went off to fight in a segregated military, and women and people of color filled the jobs in the defense industry previously reserved for white males† (American Experience: People & Events par. 3). Concurrently, a group of Mexican Americans who became enthusiastic in jazz began to don zoot suits, originally defined as â€Å"an African American youth fashion, closely connected to jazz culture, the zoot suit was co-opted by a generation of Mexican American kids, who made it their own† (American Experience: Zoot Suit Culture par. 1). When military servicemen drove by the thousands in Los Angeles, seen as a leisure spot as a playground for drinking, womanizing and engaging in fight, civilians detested the behavior and stirred tensions between servicemen and Mexican Americans. The constant tension between these groups over Mexican American girls provided the impetus for the Zoot Suit Riots that took place for more than one week in June of 1943 (American Experience: People & Events par. 8; Star xxiv; American Express:The Press and the Riot). The United Farmworkers Union (UFW) was primarily envisioned as an organization to reclaim â€Å"dignity for people who were marginalized by society† (Tejada-Flores, CEZAR CHAVEZ). Eventually, the UFW was reported to have evolved as a political force spurred from growing awareness of the need for Mexican Americans to participate in deciding on economic issues, electoral activity and cultural enhancement. This organization was presided by Cesar Chavez who was also instrumental in winning the battle for the farmers’ rights. However, setbacks from these victories cased the UFW to strike, to wit: â€Å"the UFW responded with strikes that led to the jailing of thousands. Many strikers were injured by violent attacks on the picket lines, and two were killed in dreveby shootings and attacks.. But the â€Å"inter-union† battle had left the public confused and made

Cognitive Psychology Essay Example | Topics and Well Written Essays - 1000 words

Cognitive Psychology - Essay Example The authors’ main research questions were: If updating is the automatic result of locomotion, would people have ease or difficulty with ignoring their locomotion when walking without vision? If updating was an optional process that only occurred as the result of deliberate and effortful cognitive processing, would people find the task easy? Is the performance of people walking without vision better in the updating condition when they are told to ignore their locomotion? Is there was any difference in performance when people walked blindly to near targets compared to far targets? Are people able to overcome the information specifying their real positions in space and temporarily by adopting a different perspective, when they are given enough time to carry out the necessary cognitive operations? First hypothesis of the research was that: Performance of people while updating their spatial relationships is better as compared to when they are told to ignore their locomotion. The third hypothesis was that: If subjects can retrospectively overcome the earlier automatic spatial updating, then their performances in the ignoring condition should improve relative to the updating condition. These hypotheses were justified on the basis of background research and theory, because the authors have given an extensive review of literature citing other researchers’ works, and explaining them in order to support the need to conduct this specific research. They have cited literature which discusses the automatic updating of non-visual spatial relationships. The population of interest was young people. The sample for the first experiment included ten student volunteers from the Strathclyde University Psychology Department; and, the sample for the second experiment included ten other student volunteers from the same department and university. The sample was not very

Managing Service Operations

Managing Service Operations Raised in Tokyo, Hiroaki Aoki managed to launch his first business in the United States. Taking advantage of his origin, he opened a Chinese-Japanese cuisine restaurant offering a unique experience to its customers. The food process was transformed to an exceptional food experience and with the opening of a chain of in total 15 restaurants Hiroaki Aoki proved to be a pioneer in the restaurant industry. The way he managed to succeed this, was through revolutionary moves regarding restaurants environment, financial operations and service structure. By decorating his restaurant with Japanese elements and employing Japanese chefs as showmen, the perception of dining at Benihana changed. This new perspective was further supported by reducing the kitchen-room as to have more space for tables and fully adapt the Japanese philosophy as well as creating an unparalleled image for his business. Due to the uniqueness of the Benihana restaurants, franchise as a growth strategy brought upon many problems: starting from a lack of communication between managers and the Japanese speaking personnel, to inexperienced managers in franchised businesses abroad. This led Hiroaki Aoki to reconsider his options and deciding to expand through other models (joint-venture and hotel-corporation) and in other areas of food industry (retail and quick service food sector). Whether this is a sustainable move or not will be identified within this report. Benihanas concept is based on an authentic Japanese atmosphere. The use of American food favourites (chicken, steak, etc.) combined with the hibatchi method of presentation makes this restaurant very different from others (Sasser, 2004). Glushko and Tabas (2008) state that service management and design success depend on the interaction between employees and customers. Thus the quality of the service experience relies on the front stage activities displayed in a restaurant. Furthermore, Frei (2006) adds that the line of visibility is the factor that separates the front stage and the back stage (Appendix 3). If Benihana was to compare with a McDonalds and a Gourmet Restaurant the service encounters would be very different (Appendix 4) (Frei, 2006). In the case of McDonalds the line of visibility for the front-stage is very small and depends on waiting lines and self-service, whereas all the production lines occur in the back stage, thus the customers experience is very limited (ibid.). A customers experience in a gourmet restaurant has a balance between the front-stage, dining room experience, and the kitchen-backstage-area (ibid.). Compared to both of these, Benihana enhances the experience of their customers by treating the chef as a showman and having a different production line to service (ibid.). The front stage is the largest part of the operations with the chef cooking and serving the dishes together with the waiter, whereas the kitchen preparation is a very small part of their process (Sasser, 2004). This different concept increases customer satisfaction: 9 As seen in Figure 2, customer satisfaction is rated as excellent, which implies that the Benihana service concept is successful. In order to further develop this aspect of their business, Benihana also developed several other concepts in relation to their design, their bar and their customer batching in groups, which will be further discussed in Chapter 3.2.2 Benihanas Restaurant Design. 10 Benihana created a concept that includes food, atmosphere, entertainment and hospitality, while trying to be consistent, with their Japanese heritage. Furthermore, the owner is planning expansion steps to appeal to a wider range of clientele. However, Hiroaki Aoki has two major concerns. The first issue is how to sustainably expand and upgrade his product and services to cater a wider range of audience, while keeping the quality and the Japanese traditional atmosphere. The second issue is how to define what Benihana is selling. Data Analysis Benihanas Strategy Considering the growth of Benihana from a humble 40-seat unit to a chain of 15 units across the country, Hiroaki Aoki had a very successful strategic planning behind the concept of his restaurant (Figure 1) (Sasser, 2004). Strategic planning can be defined as an organizational process of allocating its resources in order to pursue a strategy that includes its capital, employees and most important its clients (Haines Schmidt, 2005). The owner, Rocky, approached a combination of inputs (operations), customers satisfaction and outcomes (financial results) in order to provide a new idea behind the strategy of a normal restaurant, maximizing its strengths and diminishing its weaknesses (Appendix 2) (Heskett, Sasser Schlesinger, 1997). Figure 1 : Benihana Strategic Planning Note: Adapted from Heskett, Sasser Schlesinger, 1997 Benihanas strategic planning took into consideration five important aspects: Construction, Finance, Marketing, Human Resources and Operations (Heskett, Sasser Schlesinger, 1997). They provide the framework for understanding how the firms operational investment is translated into its profit. Furthermore, Benihanas concept and cost-structure will be presented in relation to this model in order to understand the true authenticity behind this different restaurant management approach. Benihanas Concept Benihanas concept is based on an authentic Japanese atmosphere. The use of American food favourites (chicken, steak, etc.) combined with the hibatchi method of presentation makes this restaurant very different from others (Sasser, 2004). Glushko and Tabas (2008) state that service management and design success depend on the interaction between employees and customers. Thus the quality of the service experience relies on the front stage activities displayed in a restaurant. Furthermore, Frei (2006) adds that the line of visibility is the factor that separates the front stage and the back stage (Appendix 3). If Benihana was to compare with a McDonalds and a Gourmet Restaurant the service encounters would be very different (Appendix 4) (Frei, 2006). In the case of McDonalds the line of visibility for the front-stage is very small and depends on waiting lines and self-service, whereas all the production lines occur in the back stage, thus the customers experience is very limited (ibid.). A customers experience in a gourmet restaurant has a balance between the front-stage, dining room experience, and the kitchen-backstage-area (ibid.). Compared to both of these, Benihana enhances the experience of their customers by treating the chef as a showman and having a different production line to service (ibid.). The front stage is the largest part of the operations with the chef cooking and serving the dishes together with the waiter, whereas the kitchen preparation is a very small part of their process (Sasser, 2004). This different concept increases customer satisfaction: Figure 2 : Customer Satisfaction Note: Own design according to Exhibit 4, Sasser, 2004 As seen in Figure 2, customer satisfaction is rated as excellent, which implies that the Benihana service concept is successful. In order to further develop this aspect of their business, Benihana also developed several other concepts in relation to their design, their bar and their customer batching in groups, which will be further discussed in Chapter 3.2.2 Benihanas Restaurant Design. Benihanas Cost Structure In terms of Benihanas cost arrangement the owner implemented a strategic cost structure to the business by lowering the cost of labour and food and beverage. The cooking labour is cost efficient due to the cost reduction that was done through their chefs; they did not only prepare the food, but also served it (Sasser, 2004). With concerns to the food and beverage costs, due to their limited menu, inventory reduction also occurred (ibid.). Taking into account all the mentioned measures, the results have a direct impact on the financial statement of the restaurant. Figure 3: Benihana ´s Partial Income Statement Note: Sasser, 2004; Bank of America, 1968 As seen in Figure 3, Benihana ´s Earnings Before Income Tax and Depreciation (EBITDA) is on average between 15 and 35% higher than ones of a typical service restaurant (Sasser, 2004). It is observed that there are two factors, which increase profitability: lower food and beverage cost (limited menu, fewer inventories) as well as lower labour cost. The lower labour cost is the influential reason behind this high difference in marginal profit. Analyzing the employee that plays the most important role in the restaurant, the Benihana chef, an employee profile was created (Appendix 5). PayScale (2010) provides an immediate accurate snapshot of the job market and gives facts of employees salary data in the world. Thus it was used as a source to calculate the annual average salaries of the food and beverage segment as well as the job specification of a chef in 1964 (Appendix 6) (ibid.). The average annual salary of a Benihana chef can be analyzed through the figure below. Figure 4 : Benihana ´s Chef Annual Average Salaries 1964 Note: PayScale, 2010 It can be noticed that the Benihana master-chefs have a slightly above average income compared to the market. As the success and the reputation of the restaurant depend on these employees, it is very important to keep them motivated and this further demonstrates that the owner, Rocky, also has a human resources operation strategic planning as seen in Figure 1. Benihanas Restaurant Capacity Managers are continuously challenged with balancing customer demand and service capacity (Klassen Rohleder, 2002). The capacity of a business can be seen as their ability to meet the demand; for the production of goods this can be easily done, but for services it is very difficult as four critical factors have to be taken into account: time, labour, infrastructure and equipment (ibid.). Thus capacity has to be planned ahead in order to achieve cost effectiveness and the customer satisfaction. In the case of Benihana, an estimation of the maximum demand rate for an evening dinner period was calculated in order to foresee the capacity to sustain it: Figure 5: Benihana ´s Capacity vs. Demand Rate Note: Own design; Sasser, 2004 It can be noted from Figure 5 that in a case of maximum demand rate, Benihanas capacity will not be able to fit 360 clients in one night. Although the restaurant has already a limited menu, Benihana also took into consideration a decrease in dining time. The chefs also plays an important part by offering the guests the ultimate gastronomic experience and politely annoucing them that their dinner is over by bowing at the end of the meal-presentation (Sasser, 2004). Benihanas Production Process System Before a company can actually decide on which customer target market it will serve, it has to define its value proposition and its position in the market (Kotler Armstrong, 2010). The positioning of a company is defined as a consumer`s appreciation of the product compared to competing products (ibid.). As one can see in Appendix 7, Benihana has a high customer value and a differentiated position in the market. Hiroaki Aoki achieved this position, through an unprecedented service experience and design (Sasser, 2004), which will be highlighted in the following chapter. Benihana`s Service Design Every service idea starts with a service concept, where the purpose, target market and the customer experience are defined (Russell Taylor, 2009). By opening an authenticable Japanese restaurant in the United States, Hiroaki Aoki focused on two main criteria, Americans enjoy when they are going out for dinner: an exotic surrounding and a place where they can watch the preparation of their food (Sasser, 2004). Referring to the previous chapter, out of this observation, he created a completely new service concept: the Benihana dining concept, where the food is prepared by professional chefs on hibachi tables right in front of the guests. This newly developed concept was both, revenue- and cost-effective (Heskett, Sasser Schlesinger, 1997). A service package is a mixture of physical items, sensual benefits, and psychological benefits (Russell Taylor, 2009). The specialty of a Benihana restaurant is their design according to historical authenticity. All the physical items (walls, ceilings, lights, etc.) are from Japan and the materials are originally shipped to the United States (Sasser, 2004). Sensual benefits are supported by the highly trained native Japanese chefs whose form of cooking is mainly showmanship (ibid.). The psychological benefits in a Benihana restaurant are the exotic surroundings and authenticity of the place. The combination of all three components concludes in an effective service design (Russell Taylor, 2009). Therefore, the connection is presented in the service design process: Figure 6: The Service Design Process Note: Adapted from Russell Taylor, 2009 Derived from the service package, specifications for performance, design and delivery are specified. Based on the customer expectations (exotic surrounding), the design (original materials from Japan) and delivery (downtown Manhattan) are created (Russell Taylor, 2009). Benihana`s Restaurant Design The design of a typical Benihana restaurant is created to increase efficiency and profitability. A typical Benihana restaurant design, which presents the floor plan of the Benihana West restaurant on West 56th Street in Manhattan (Sasser, 2004), is shown in Figure 7. It is comprised of 112 to 120 seats in the dining area as well as 55 to 60 seats in the cocktail lounge and the typical operation has between 5,000 and 6,000 square feet (ibid.). Figure 7: A typical Benihana Floor Plan Note: Sasser, 2004 Once guests enter the restaurant, they first pass the cocktail lounge. The bar in the first Benihana restaurant only seated eight guests as the design was concentrated on food-service sales (Sasser, 2004). Along the openings of new restaurants, the founder realized, that the small space was insufficient and enlarged the bar space with every opening. He found out, that in peak times, the bar is well used as a buffer and therefore increases the beverage sales (ibid.). When all the 14 tables in the dining area are occupied, the guests are waiting here for an aperitif, until there are seats available. In the bar, the guests are batched in groups of 8 and are leaded to the dining area. The main attractions in the dining area are the teppanyaki tables, which cover eight diners per table and are served by one chef and a waitress (Sasser, 2004). Due to the hibachi tables, the conventional back-stage kitchen can be reduced as the cooking itself takes place front-stage at the customer`s table. This leads to shorter serving distances and one team of chef and waitress can handle two tables at once. The arrangement of the tables (see also Figure 6), also results in lower cost of labour (Sasser, 2004). Examination of the Production System The design of the production process comes along with the design of the restaurant space. The whole production line moves towards the service of the customer. It starts in the bar, where the guests are grouped together in batches of eight before having their dinner (Verweire Van den Berghe, 2005). It has to be taken into consideration that the combination of batches is satisfactory for smaller groups arriving, since they do not know each other (Appendix 8). This batch concept leads to higher beverage sales and allows using the whole provided capacity in the restaurant. According to Russell and Taylor (2009) design simplification reduces the number of parts, subassemblies, and options in a product. Benihana`s menu consists of four main food items (filet mignon, steak, chicken and shrimp) accompanied by unvaried side dishes (zucchini, onions, bean sprouts, fresh mushrooms and rice), which can be combined as entrees or main dishes (Sasser, 2004). As seen in Figure 4 this standardization of ingredients cuts the food costs down to 30-35% of food sales and leaves nearly no waste (Sasser, 2004; Russell Taylor, 2009). This also minimizes the space for food storage, which results in less space in the back stage of the restaurant. Since services are defined as front-stage activities, the dining room of a restaurant is the service part, whereas the kitchen is classified as the production part (Teboul, 2006). Through the preparation of the meal in front of the customer, not only the service experience is greater, but also a conventional kitchen is not necessary anymore. This enlarges the productive dining area and reduces the back area (preparation areas, dressing rooms, storage and office space) of about 22% of the total space (Sasser, 2004). According to Verma and Boyer (2010), the aim of successful process design is to maximize the output. To identify possible limitations, a bottleneck analysis is helpful. A bottleneck in a process is the step with the slowest cycle time in a given process (Verma Boyer, 2010) and verifies the process productivity. Figure 8: Process Flow Diagram of the first Benihana Restaurant in Manhattan, 1964 Note: Adapted from Verma Boyer, 2010 While analyzing the process flow diagram (Figure 8) of a Benihana restaurant, one can see that the bottleneck hereby is the dining time of 60 minutes. This bottleneck determines the pace of the whole system even though the waiting time at the bar in peak times is only 12 minutes (Verma Boyer, 2010). As identified in Chapter 3.1.3, Figure 9 the demand of a Benihana restaurant exceeds capacity. To resolve the problem of the bottle neck, Benihana decreased the dining time and enlarged the bar capacity to cover more waiting customers. Over the years, Benihana first doubled the bar area to 16 seats and eventually reached up to 55-60 seats (Sasser, 2004). Figure 9 shows some scenarios for different bar and dining area arrangements and waiting times. The maximum dining capacity of 120 seats allows a bar capacity of 48 seats (Figure 9). Figure 9 : Scenarios for different Bar and Dining Area Arrangements and Waiting Times Note: Own Calculations Concerns regarding Diversification Plans According to Ansoffs Growth and Expansion Matrix, one can find four different options of development: market development, diversification, market penetration and product development (Campbell Craig, 2005). Benihana took into consideration the following strategies: Figure 10 : Expansion Plan of Benihana Note: Adapted from Campbell Craig, 2005 The first one, market development (1), is the growth of an existing product into new market sectors (Campbell Craig, 2005). Regarding their diversification plans, Benihanas attempt is to expand in other countries where they have to take into consideration the customs of each nation, its rules and regulations. The same principles cannot be applied for all regions, so in order to develop successfully the restaurant chain these concerns should be well evaluated. Furthermore, it is very difficult for the company to be franchised, since not all owners have previous experience in the restaurant business (Sasser, 2004). Communication with the staff is also very difficult, since the majority is Japanese. Moreover, it is very demanding to supervise and keep control of what is happening in restaurants around the world. Hence, Rocky decided for the near future, instead of attempting to franchise his restaurant business, to move either into a joint-venture or into hotel-corporations and expand in two areas: Japan and overseas (ibid.). Diversification (2) is known as an approach of involving new products in new markets (Campbell Craig, 2005). Rocky also decided to widen his business into other fields connected to the food industry. A first attempt in the retail production and selling is under discussion. Entering the retail-sale-market is time consuming and has high advertising costs, so Benihana should probably re-evaluate their advertisement budget and more likely reduce the promotion funds for the restaurants, which is a risky move (Restaurant Worx, 2010). If someone is not satisfied by the quality of the product he/she will probably create a negative idea about the company and never visit a Benihana restaurant. It is also uncertain how unique the product is or how likely it is for other similar products to be created in the near future (ibid.). Product development (3) is known as increasing the market share by developing new products (Campbell Craig, 2005). In general Benihana restaurants have middle-income customers as its target group (Sassa, 2004). This is linked directly to the quality of the services offered, restaurants atmosphere and prices. Alternatively, they have no young audience in Benihana restaurants. This is one of the reasons why Rocky is considering of opening a quick service restaurant as to be able to satisfy younger crowds needs as well (ibid.). To put this project into action, firstly a market research was made about the restaurant needs of the people, the food that will be provided in these restaurants, deciding on a combination of Asian cuisine Chinese and Japanese and their location. Furthermore, cooperation between Rocky and an oil company will be formed as to provide small gas units to his new restaurants (ibid.). Even though a thorough research was conducted for this expansion a very significan t element was neglected; the culture of the locals. Maybe the proposal of a Chinese-Japanese quick service restaurant was innovative for that time, but not all the neighbourhoods were prepared to welcome that idea (ibid.). The last one, market penetration (4), is known as the use of existing products in existing markets, which are already served (Campbell Craig, 2005). The United States therefore give three areas for growth: primary markets (New York, Los Angeles), secondary markets (Pennsylvania, Harresburg, etc) and Suburbia. Due to the already mentioned inefficient franchise strategy, Benihana will not only expand internationally but also domestically through joint-ventures and hotel-affiliations (Sasser, 2004). Concerns regarding the loss of identity Benihana is selling to its customers a whole new perception of food consumption. Starting its business in 1964 in the U.S., it introduced to the market an innovative procedure of food preparation and presentation to the customers (Sasser, 2004). Instead of cooking the food inside a spacious kitchen, they used more room for the restaurant area as to prepare meals in front of the customers on a teppanyaki table with the hibachi cooking method. Benihana created a culture for the chain based on Japanese cooking method by well trained chefs and Japanese design. The environment of Benihana restaurants decoration and atmosphere is of vast importance for the company, since the philosophy of Benihana is to make people happy through the food experience (Bitner, 1992; Sasser, 2004). However, the environment is important not only for the customers who should feel satisfied, but also for the employees. In turn for the employees to feel motivated and perform their best, their working surrounding s should support their needs, as to be able to enhance companys values to the customers (ibid.). Consequently, Benihana should continue providing such services and facilities to its customers and employees as to sustain the chemistry between them and therefore continue to be a successful company. Presentation of Solution and Recommendations Benihana had a very successful strategy so far due to its construction, finance, marketing, human resources and operations management. They were able to translate market trends into their concepts and adapt them efficiently. Furthermore, they managed to reduce the back stage kitchen area into a front stage environment that displayed cooking and entertaining as one. The concept was so innovative that Rocky was actually able to reduce expenses. According to the diversification plan, Rocky intended to expand his business into more fields of the food industry. To develop his company, he tried to take advantage of the Benihana recognition, as to enter further markets, but on the other hand this step would be risky, because if the new concepts would fail, it could damage Benihanas reputation. Sasser (1976) states, that good planning is the key to successful management of supply and demand in service industries. As discussed in this paper one of the biggest problems that Benihana is facing, is how it will sustainably expand, while keeping their quality and their concept (limited menu, chef as a showman, Japanese atmosphere). Furthermore, as seen in Figure 10, Rocky has made a lot of plans regarding the growth and diversification of the Benihana restaurant. It is recommended that before attempting to implement all his ideas, a development strategic plan should be developed in order to best fit this expansion. Therefore the supply and demand matching concept should be taken into consideration: Figure 11 : Strategies for Matching Supply and Demand for Benihanas services Note: Adapted from Wisner, Leong, Tan, 2005 Lovelock (1994) further states that this can be accomplished through shifting demand to match capacity or adjusting capacity to meet demand (Appendix 9). In order to resolve the second issue, Benihana should focus on selling Japanese food and promoting their philosophy. One of the main key points of Benihanas achievements is the unique food experience it sells to its customers. Therefore, the basic elements of this successful recipe should be included in any other expansion step the company and Rocky decide to take. Without the fear of being imitated, they should take advantage of their uniqueness and develop in other areas of food industry. Through this move they would also be able to focus on other target groups, such as younger audience, which currently are not part of Benihanas targeted clientele. In this way Rocky will be able to launch his restaurant name and not only become a current trend, but also establish his brand in the hospitality industry, by providing Japanese authentic services. Action Plan Evidence Of Success Evaluation Process : Increase in Demand Increase in Profitability Customer Satisfaction Survey Employee Satisfaction Survey References: Benihana (2010). About Benihana. 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