Budget Essay Example | Topics and Well Written Essays - 1000 words

Budget - Essay Example ncreased interest in research on this topic, and to analyze whether the current approaches of budgeting hinder the effectiveness of modern organizations. Dynamic Business Environment: The present business environment presents a very dynamic situation in front of the managers. In this scenario, budget is seen as a constraint rather than as a planning tool. As a result of this dynamic business environment, the relevancy of the budget is very short lived. Budges result in centralization of the decision making process. This delays the decision making and reduces and organization’s ability to respond to changing environment. The concept of how a successful company operates in the information age is shifting from â€Å"make-and-sell† to â€Å"sense-and respond† (Haeckel, 1999). Budgeting done in isolation: Many managers who are against budgeting believe that budgeting encourages a myopic planning horizon indicating a delinking of the budget and strategy (Shastri, 2008). Budgets are done in isolation and are not aligned to company strategy and goals. Moreover, the budgeting horizon is not linked to the business cycle resulting in long budgeting periods in rapidly changing industries and short budgeting periods in extremely dynamic industries. Hinders Innovation: The bureaucracy and controls created as a result of the budgeting process stop the culture of challenging the status quo. Most of the units focus on operating within the budget thereby reducing the chances of innovation. Most of the subunits focus on operating within their own budgets and hence do not take innovation as a philosophy (Hope and Fraser, 2001). Expensive: It is often argued that the budgeting process followed at organizations is inefficient. This results in the wastage of time of the senior management. Budgeting is also an expensive exercise in terms of capital required for the budgeting purpose. Sophisticated Budgeting Techniques: With the drawbacks of the budget and the budgeting techniques,

Compensation & Benefits Essay Example | Topics and Well Written Essays - 3750 words

Compensation & Benefits - Essay Example Incentive compensation and benefits play an important role in making a company achieve higher levels of employee productivity. Compensation is one of the major motivating sources behind employees’ productivity and if a company offers attractive benefits for its employees as a result of their individual performances, the employees become motivated and inspired to do more for the company. Therefore, we can say that employee productivity directly depends on the compensation and benefits being offered to them by the company. Companies use compensation and benefits programs for various reasons. Some of the major reasons for implementing compensation plans include hiring and retaining talented employees, increasing moral of the employees, encouraging the performances of the employees, achieving quality in every business activity, encouraging employees’ loyalty with the company, reducing the turnover, and making the employees satisfied with the company. These were some of the reasons of why companies design and implement different kinds of compensation and benefits programs for the employees. There are some important factors, which need to be considered while designing and implementing a proper compensation and benefits plan in a company. These factors play an important role in the successful implementation of a compensation plan. If a company wants to develop a compensation plan for its employees, it needs to take into consideration these factors in order to get desired results from the plan. If any of these factors is overlooked, the compensation plan will not be able to produce expected results for the company. Some of those factors include organization’s culture, statement of plan’s objectives, linking performance to organization’s goals and objectives, needs and demands of the employees, discrimination, employees’

Compulsive Gambling Essay Example for Free

Compulsive Gambling Essay More than 5 million Americans are pathological, compulsive and problem gamblers, and another 15 million are at risk of becoming just like them. A common definition of problem gambling is: a progressive disorder characterized by a continuous or periodic loss of control over gambling and irrational thinking and behavior despite the consequences. When gambling interferes with any ones life, it can be categorize as an addiction or disease, just like alcohol and drug addiction is categorize as a disease. A study conducted for the National Gambling Impact Study Commission found that 20 million American have or could develop gambling problems. Also they have estimated those 1. 8 million American adults as well as up to 1. 1 million American adolescents age 12 through 17 engage in severe pathological gambling each year. As legalize gambling has become more common in the United States; problems have sprung up as well. That negative influence is becoming more apparent as gambling is more widely available. It is becoming increasingly easy to gamble in the United States particularly in the last 10 years, and problems with gambling are much more common now than they ever were. Studies show that for every dollar gambling produces for a regional economy, three dollars are lost because of the economic and social cost of gambling. The study has also said that if the government legalizes more gambling, taxpayers will lose money, whether they gamble or not. The gambling industry believes it is just selling an innocent form of family entertainment, but they dont mention how much the players lose or how gambling encourages addictive behavior or the enormous costs it creates for the rest of society. It has been said that, gamblers with higher counts of gambling symptoms will have higher rates of problem. There many consequences associated with compulsive, pathological and problem gamblers. Examples of such consequences include job and financial problems, divorce, poor health, and criminal involvement. These addictions are the lifeblood of the gambling industry, said an economist from the University of Illinois by name Earl Grinols. He researches and found out, that casinos earn more than half their revenues from compulsive, pathological, and problem gamblers. The casino industry is heavily dependent on the revenues of psychologically sick people, says Grinols. Millions of families are paying a heavy price, not just financially, but also strains in family and marital relationship. Family members of compulsive and pathological gamblers are hurt by their disease, mainly because an emotional withdrawal occurs, which leads to separation.

Explaining CAM And Its Followers

Explaining CAM And Its Followers BASIC DEFINITION OF CAM A cam is a mechanical component of a machine that is used to transmit motion to another component, called the follower, through a prescribed motion program by direct contact. INTRODUCTION TO CAM AND FOLLOWERS A cam follower, also known as a track follower,[1] is a specialized type of roller or needle bearing designed to follow cams. Cam followers come in a vast array of different configurations, however the most defining characteristic is how the cam follower mounts to its mating part; stud style cam followers use a stud while the yoke style has a hole through the middle.[2] The first cam follower was invented and patented in 1937 by Thomas L. Robinson of the McGill Manufacturing Company.[3] It replaced using just a standard bearing and bolt. The new cam followers were easier to use because the stud was already included and they could also handle higher loads.[ CAM AND MECHANISMS A cam mechanism consists of three elements: the cam, the follower (or follower system), and the frame. The follower is in direct contact with the cam. The cam may be of various shapes. The follower system includes all of the elements to which motion is imparted by the cam. This may be connected directly to the follower, or connected through linkages and gearing. The frame of the machine supports the bearing surfaces for the cam and for the follower. A CAM changes the input motion, which is usually rotary motion (a rotating motion), to a reciprocating motion of the follower. They are found in many machines and toys WHAT IS THE CONCEPT BEHIND CAM? A CAM is a rotating machine element which gives reciprocating or oscillating motion to another element known as follower. The cam and follower has a point or line contact constitute a higher pair or you can say that it is the mechanicl component of a machine that is used to transmit the motion to the another component of the machine called the follower, through a prescribed program by direct contact.The contact between them is maintained by an external force which is generally provided by the spring or sometimes by the weight of the follower itself ,when it is sufficient. Cam is the driver member and the follower is the driven member. The follower is in direct contact with the cam. CAM MECHANISM CONSIST OF THREE MECHANISMS CAM:It may be of many shapes FOLLOWER: It includes all the elements to which motion is imparted by the cam.This may be connected directly by the cam.This may be connected directly to the follower, or connected through linkages and gearing. FRAME: The frame of the machine supports the bearing surfaces for the cam and for the follower. APPLICATIONS OF CAM AND FOLLOWERS Cam and follower are widely used for operating inlet and exhaust valve of I C engine. These are used in wall clock. These are used in feed mechanism of automatic lathe Machine. These are used in paper cutting machine. Used in weaving textile machineries. The cam mechanism is a versatile one. It can be designed to produce almost unlimited types of motioning the follower. It is used to transform a rotary motion into a translating or oscillating motion. On certain occasions, it is also used to transform one translating or oscillating motion into a different translating or oscillating motion. Cams are used in a wide variety of automatic machines and instruments. The certain usuages of cam and followers that includes textile machineries, computers, printing presses, food processing machines, internal combustion engines, and countless other automatic machines, control systems and devices. The cam mechanism is indeed a very important component in modern mechanization. CLASSIFICATION OF CAMS Based on the physical shape Disk or plate cams Working of the disc cam with reciprocating follower. Working of the disc cam with oscillating follower. Cylindrical cam Translating cam CLASSIFICATION OF FOLLOWES (i) Based on surface in contact (a) Knife edge follower (b) Roller follower (c) Flat faced follower (d) Spherical follower (ii) Based on type of motion Oscillating followe Translating follower (iii) Based on line of action Radial (in line) follower (b) Off-set follower Cams can be conveniently classified into two main groups Group a: Cams that impart motion to the follower in a plane in line with the axis of rotation of the cam (as does a cylindrical cam). Group b: Cams that impart motion to the follower in a plane at 90 degrees to the axis of rotation, as with face or edge cams.Most cams fall into this category. TYPES OF CAMS Eccentric cam: A circular cam is often called an eccentric cam because the axis of rotation of the cam is offset from the geometric center of the circular disc. Concentric disc: A concentric disc attached to a rotating shaft would have its axis of rotation coinciding with its geometric center. PROFILE SHAPES OF SOME CAMS: PEAR-SHAPED CAMS: These type cams are often used for controlling valves. For example, they are used on motor car camshafts to operate the engine valves. A follower controlled by a pear-shaped cam remains motionless for about half a revolution of the cam. During the time that the follower is stationary, the cam is in a dwell period. During the other half revolution of the cam, the follower rises and then falls. As the pearshaped cam is symmetrical, the rise motion is the same as the fall motion. Edge cams It must be appreciated that this type of cam, where the follower is in contact with the edge of the cam disc, is only capable of imparting positive motion to its follower in one direction, that is, during the rise portion of the cam movement. During the fall portion of the cam movement the follower must be maintained in contact with the cam either by the mass of the follower and its mechanism or, more usually, by a spring. Both methods have their advantages. Box cams A groove can be milled in the face of cam discs. As the cam rotates, a follower located in the groove has its motion guided by the groove. This type of cam is called a box cam. Cylindrical cams: Cylindrical cams are used when motion has to be transmitted parallel to the axis of rotation of the cam. The cylindrical or barrel cam consists of a rotating cylinder with a helical (screw shaped) groove in its curvedsurface. A follower with a tapered roller end is located in the groove. As the cylinder turns, the follower moves in a straight line parallel to the axis of the rotation barrel cam. This type of cam is often used to guide thread on sewing machines, looms and fabric making machines. CIRCULAR CAMS: These cams are sometimes called eccentric cams. The cam profile is a circle. The center of rotation of the cam is often from the geometric center of the circle. The circular cam produces a smooth form of motion called a simple harmonic motion. These cams are often used to produce motion in pumps. Circular cams are often used to operate steam engine valves. As the cam is symmetrical, the rise and fall motions are the same. HEART SHAPED CAMS: This cam causes the follower to move with a uniform velocity. Heart-shaped cams are essential when the follower motion needs to be uniform or steady as, for example, in the mechanism that winds thread evenly on the bobbin of a sewing machine. A heart-shaped cam can be used for winding wire evenly on the former of a solenoid. UNIFORM ACCELERATION AND RETARDATION CAMS: A cam shaped as shown controls the motion of the follower so that it moves with uniform acceleration and retardation. The follower gains and looses velocity at a constant rate. Uniform acceleration and retardation cams are used to controls the motion of linkages in complex machinery. Types of Cam Followers There are three types of cam followers, and since the type of follower influences the profile of the cam it is worthwhile considering the advantages and disadvantages of each type. The three types are the knife-edge, the roller follower and the flatfoot or mushroom follower. The Knife Edge Follower: This is the simplest type, is not often used due to the rapid rate of wear. When it is adopted, it is usually for reciprocating motion, running in slides and there is considerable side thrust, this being a component of the thrust from the cam. The Roller Follower: This eliminates the problem of rapid wear since the sliding effect is largely replaced by a roller action. Some sliding will still take place due to the varying peripheral speed of the cam profile, due to the changing radius of the point of contact. Note also that the radial position of the contact between the cam and the roller, relative to the follower center, will change according to whether a rise or fall motion is taken place: this fact has to be considered when constructing the cam profile. Again,with the roller follower, considerable side thrusts are present, a disadvantage when dealing with reciprocating motions. This side thrust will be increased when using small rollers. The Flat Foot or Mushroom Follower: This has the advantage that the only side thrust present is that due to the friction between the follower and the cam. The problem of wear is not so great as with the knife-edge follower, since the point of contact between the cam and follower will move across the face of the follower according to the change of shape of the cam. A trick to lessen further the effect of wear is to design the follower to be capable of axial rotation and arrange the axis of the follower to lie to one side of the cam. Thus the contact with the cam will tend to cause rotation of the follower. The cam profile, to work with a flatfoot follower, must be convex at all parts, in order to prevent the corners of the follower digging into the cam profile. The minimum cam radius should be as small as possible to minimize sliding velocity and friction. All three types of cam followers can be mounted in the following ways: 1) In-line with the cam center line, 2) Offset from the cam center line, or 3) Mounted on a swinging radial arm. CAM-VALVE CAM TERMINOLOGY Trace point: A theoretical point on the follower, corresponding to the point of a fictitious knife-edge follower. It is used to generate the pitch curve. In the case of a roller follower, the trace point is at the center of the roller. 2.Pitch curve: The path generated by the trace point at the follower is rotated about a stationary cam. 3. Working curve: The working surface of a cam in contact with the follower. For the knife-edge follower of the plate cam, the pitch curve and the working curves coincide. In a close or grooved cam there is an inner profile and an outer working curve. 4. Pitch circle: A circle from the cam center through the pitch point. The pitch circle radius is used to calculate a cam of minimum size for a given pressure angle. 5. Prime circle (reference circle): The smallest circle from the cam center through the pitch curve. 6. Base circle: The smallest circle from the cam center through the cam profile curve. 7. Stroke or throw: The greatest distance or angle through which the follower moves or rotates. 8. Follower displacement: The position of the follower from a specific zero or rest position (usually its the position when the follower contacts with the base circle of the cam) in relation to time or the rotary angle of the cam. 9. Pressure angle: The angle at any point between the normal to the pitch curve and the instantaneous direction of the follower motion. This angle is important in cam design because it represents the steepness of the cam profile. Some question arises regarding cam and followers: When is a flat faced follower preferred as compared to roller followers and why? Flat faced followers are preferred to roller followers where space is limited for eg: cams with flat followers are used to operate valves of an automobile engine but in case of stationary and oil engines, roller followers are preferred because more space is available. What data is plotted on displacement diagram of cam and follower motion? Ans:Plot of linear displacement i.e. lift or stroke (s) of follower (on Y axis direction) versus angular displacement (ÃŽÂ ¸) of the cam for one rotation (on X axis direction) REFERENCES: WIKIPEDIA. McGILL CAMROLL bearings. Robinson, Thomas L., Bearing, US

The company aims and objectives

The company aims and objectives 1 Introduction Strategic management is the way a business will formulate, implement and evaluate its decisions across the departments in order to help the company to achieve its objectives. It means using the company aims and objectives to develop policies and plans, allocate resources in order to implement the plans and then evaluate whether this has been successful. Strategic Planning ensures that an organisation is doing the right things. If a business needs to change the way it runs its business operations then a strategic plan explains what the organisation is changing to. Once it has determined the right things to do, it devolves accountability for doing them right to one or more business plans (Guest 1989). Every organisation has a mission statement setting out its aims and objectives and strategy can be defined as â€Å"The determination of the basic long-term goals and objective of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals† (Alfred Chandler, 1963). Johnson and Scholes (2002 p13) suggested that a company needs a mission and mission statements; a vision or strategic intent; goals; objectives; unique resources and core competences, strategies and control. Strategy was ‘the direction and scope of an organisation over the long term: ideally which mat ches its resources to its changing environment, and in particular to its markets, customers or clients, so as to meet stakeholder expectations. To continue in business and be profitable every business needs a strategy and according to McGee et al (2005)strategy is the ability of a company to thrive and survive. The report will outline the stages, steps and procedures that should be implemented to carryout a strategic analysis as part of the strategic management process. The New Vintage Car Company is a specialist organisation which has a small niche in the specialist car market and a mission statement, objectives and strategic intent. 1.1 Aims and Objectives of the report The aim of the report is write a report about a chosen firm within the automotive industry (real or invented) indicating the stages, steps and processes involved in the planning and analysis, formulation and implementation and evaluation of the strategic management process. 1.2 Objectives To understand the importance and characteristics of strategic management to all forms of organisation To investigate a range of strategic management models and their strengths and weaknesses To consider the relevance for strategic management of organisational culture and ethics To analyse and evaluate a range of strategic management models To apply and to tailor models of strategic management as appropriate 2 Stage One Strategic analysis Generally there are two main approaches to strategic management the organisational approach dealing with competitive advantage, resource allocation and economies or scale and the the human approach. According to Arieu (2007), ‘there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context. Strategic management can be bottom-up, top-down, or collaborative processes which means that in the bottom up approach employees send in proposals to their managers who choose the best ideas which are assessed through capital budgeting processes such as return on investment or cost benefit whilst the top-down approach is where the CEO and the planning team make the decisions. Johnson (1999 p154) advised that strategic planning was the ‘process of drawing up long-term, wide ranging plans in accordance with the organisations main aims and will involve analysing customer expectations, competitive pressures and overall changes in the market. Operational planning on the other hand was the development of plans for a specific operation within the organisation whether it was for a product or a service. He added that although organisations used information from analysis, quantified objectives which became the organisations targets for a planned period of time, could be based on ‘ guesswork. Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment. (Lamb, 1984:ix). As the New Vintage Car Company is a small specialist business it is very much a very collaborative style of strategic management with the 10 main employees taking part in management decisions. 2.1 Strategic management theories Strategic management was a concept which was developed in the 1950s and 1960s which theorised that gathering all the functions under one strategy and coordinating the different departments. Chandler (1962) showed that a long-term coordinated strategy was necessary to give a company structure, direction, and focus stating that ‘structure follows strategy. Selznick theorised that an organisations internal functions should be matched to any external environmental circumstances through SWOT analysis which was developed by the Harvard Business School General Management Group. Anscoff developed a strategy grid to compare market penetration strategies, product development strategies, market development strategies, horizontal and vertical integration and diversification strategies and a gap analysis. Druckers (1969) management by objectives (MBO) meant that companies set objectives and then monitored if they had been achieved and suggested the use of team work. Function strategies incl ude marketing strategies such as new product development strategies, human resource strategies, financial strategies, legal strategies, supply-chain strategies, and information technology management strategies dealing with short and medium term plans. However, Mintzberg (1988) thought of strategy as a process or pattern of behaviour which has evolved over time and necessitated fluidity and the realization that there were unpredictable issues which could arise. 2.2 Analysis Part of the planning process for a company would be to analyse the current market place and the companys position in it. This could be done through various analysis techniques such as PEST, SWOT, Gap analysis, Porters generic strategy analysis. 2.2.1 PEST analysis The PEST analysis could be used by the organisation to look into market growth or decline whilst investigating the position of the company, its potential for future growth and the direction the business should take. PEST stands for Political, Economic, Social and Technological factors, and can be used in conjunction with SWOT which are the Strengths, Weaknesses, Opportunities and Threats analysis. PEST can be extended to PESTLE by adding Environmental and Legal or even adding any Political and demographic issues as STEEPLED (Grundy 2006). 2.2.2 SWOT analysis In order to see where the company is in the market place, a SWOT analysis will need to be undertaken. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Strengths would be the type of business and whether is has been well established in the area and has a loyal customer base Weaknesses are anything which may hinder the company in achieving its objectives and which may need to be changed such as financial constraints. Opportunities are the things a companies can use to progress Threats are the issues which affect a company and could potentially threaten the companys futuresuch as thecredit crunch with suppliers closing down, transport costs rising and banks not lending money (Armstrong 1982 p198 Hill Westbrook 1997). 2.2.3 Gap analysis The company will need to judge where there is a gap in the market, either a place for their product or where the company is at the moment and where they would like to be and so the difference is the gap. After this analyis the company needs to decide how to bridge the gap either through a strategic approach or a tactical/operational approach. The tactical operational approach would make use of the Marketing Mix Product, Place, Price, Promotion 2.2.4 The value chain Porter (1998) also theorized that a company could be successful if it contributed to the industry it was in via a value chain which meant that everything a company does should be questioned in terms of what value it adds in the eyes of the final customer. In 1993,John Kay stated that ‘adding value is the central purpose of business activity. 2.3 Competitor analysis A company needs to analyse what its competitors are doing, how well they are doing it and whether they are a real threat. 2.3.1 Competitive advantage and Porters 5 Forces theory Porters 5 Forces Model New entrants, Industry competitors, Suppliers, buyers and substitutes is a useful theory can help for an organisation to formulate the appropriate strategies to be successful in their market (Thurlby, 1998). Porters theory takes 5 elements which can influence a business such as New Entrants to the market and Industry competitors are there any new or similar companies setting up in business which could be a threat and which customers will choose instead of the original company; Suppliers who may be powerful enough to put up prices which the company has to pay or even refusing to do business with the company; Buyers how customers can put pressure on the company to lower prices or alter product lines; Substitutes customers changing to alternative products from another company if there is a product price increase; the use of price cutting and aggressive marketing by other similar rival companies; (Porter 1998). 2.4 The Competitive-positioning approach Companies need to be aware of the competitions own strategies at all times. A competitive advantage can be attained by organisations if the current strategy is value-creating, and not currently being used or activated by competitors or future competitors (Barney, 1991, p102). Choosing the correct market level is important as too high will lose customers and too low may see to many competitors. Porter (1995) thought that there were three routes to competitive advantage. A firm either (1) focused on a particular customer group (2) Specialised in skills competitors cannot match or (3) became the lowest cost producer. Having the competitive advantage means that a company must outperform its competitors by delivering superior value to customers and, in doing so, earn an above average financial return for the company and its stakeholders. Doing this successfully over a long period is sustainable competitive advantage which requires that they outperform their competitors for a long period in a way that customers are prepared to purchase at a sufficiently high price. Campbell et al (2007) argued that there were 8 areas which need to be considered for competitive and sustainable competitive advantage to continue for a company. They need to have a strategic intent to stretch the organisation in the future and be willing to work at continuous improvement which includes inputs, processes and outputs of products and services. They would need to work in a different way to their competitors and importantly they need to be perceived to be better by their customers who need to believe that they are the main r eason for the company being in business to serve their customers. The company must build on their core competences by continuous internal review and keep communication channels open both internally and externally. Its core competency is the restoring of classic cars and all the skills which go with this. The management must be aware that the business environment is constantly changing and they must be prepared to change with it especially during the current recession They need to be aware of their competitors but also know when collaboration and co-operation with competitors through strategic alliances is a necessity. 3 Stage Two Strategic formulation The New Vintage Car Company has formulated a strategy through the planning and analysis of companys SWOT and the gap analysis as well as having looked at the competition which is a few other similar small businesses. Strategy formulation is the process of determining appropriate courses of action for achieving organizational objectives and staying a profitable business. Johnson and Scholes (2002 p11) theorised that there were different levels of strategy: (1) corporate dealing with the ‘overall purpose and scope of an organisation and how value can be added to the business areas of the company and when a company has decided on its products and the market it should compete in (2) business unit strategy deals with how a company can achieve an advantage over its competitors and what opportunities can be identified or created and competitive strategy which is when the company sets out the framework for success in the market it has chosen with goal setting, commitment of resources a nd the monitoring or strategies and (3) operational strategy is how the different areas of a company deliver the corporate strategies with reference to resources, people and processes. Once the strategy has been formulated, the company needs a mission statement, set the aims and objectives and conduct the internal and external analyis of the niche in the market. The company would then implement the strategy by undertaking certain steps such as entering into a partnership or expanding distribution outlets. The strategy will then need to be reviewed. The strategy formulated by a company should reflect an environmental analysis as well as the organisaitonal vision, mission statement and organisational objectives. The way to formulate strategic plans is to use three steps which find out where the company is now, determine where the company wants to go, and then determines how to get there. This may require to take certain precautionary measures or even to change the entire strategy. Johnson and Scholes (2002) strategic model looks at three criteria suitability and whether it will work; feasibility and whether it is possible to make it work and acceptability and whether the strategies will be successful. 3.1 Suitability The strategies for the company need to be suitable for that company and its current and future position in the market. The question to ask is is it economical to pursue the strategies and would there be any cost advantages for the business due expansion (economies of scale) referring to efficiencies associated with supply-side changes, such as increasing or decreasing the scale of production, of a single product type? The company needs to also address the question of economies of scope which means efficiencies primarily associated with demand-side changes, such as increasing or decreasing the scope of marketing or distribution. A company which sells many product lines, sells the same product in many countries, or sells many product lines in many countries will benefit from reduced risk levels as a result of its economies of scope. If one of its product lines falls out of fashion or one country has an economic slowdown, the company will, most likely, be able to continue trading. Thin king of its customers the company needs to look at the experience economy and what their customers will get and how they will feel they receive not only value for money but are getting something extra and feel part of the company experience. This encourages company loyalty. The New Vintage Car Company has a loyal customer base in the UK and has overseas customers in countries where the current financial downturn has not had such as great impact. The company would make use of decision tree analysis and what if analysis. 3.2 Feasibility Feasibility is concerned with the resources required to implement the strategy and whether they are available now or need to be developed or obtained. The resources which would need to be looked at would be (1) finance and funding and whether the company would have enough capital without taking on a loan or issuing more shares; (2) people and whether there would need to be a recruitment drive to employ more skilled craftspeople or even take on apprentices; (3) time and whether the length of time it would take would be prohibitive or whether the time scales involved would be acceptable and (4) information and whether the company has enough expertise and knowledge to expand using the strategies. For this the New Vintage Car Company would need to undertake a cash flow analysis and forecast as well as a break even analysis and a deployment analysis. 3.3 Acceptability Acceptability deals with how the main stakeholders of a company will accept any new strategies. The stakeholders in a company are the shareholders, employees and customers. They will need to know the expected performance outcomes and whether there are risks and what the consequences of a failed strategy would be for the company. The shareholders would want to know that there would be returns on their investments either financial or non financial and the employees would expect improved pay or career prospects and customers would be concerned that they would still get the quality they were used to. An ideal tool for this would be stakeholder mapping. Therefore the formulation of a good workable strategy for the New Vintage Car Company is essential. Strategic formulation allows the company to plan its capital budgeting especially where there are limited funds and capital funds need to be invested where they can be most effective for all the stakeholders. The next stage is implementation. Implementing any strategies will mean a change of some kind. Strategic Planning ensures that an organisation is doing the right things and then doing them right but the strategic plan explains what the organisation is changing to. The Corporate plan would be at the head of the strategic planning with departmental strategic plans and functional strategic plans for other parts of management. What goes into a strategic plan must take into account the needs of the stakeholders, any environmental risks and threats plus the competencies, resources and values that the company has. (http://www.changeperform.com.au/strategic_plan_process.html) 4 Stage Three Strategic implementation and evaluation In order to implement the plans made, there will need to be an allocation of resources including money, people, time and computer support and establishing a chain of command with specific responsibilities given to individuals or groups. This also includes the right training for employees. Strategic management can often be planned or unplanned in that there are unpredictable circumstances as well as those which can be planned for. Once the strategy has been implemented, it will need to be evaluated as to its success or failure once again through SWOT analysis for company strengths, weaknesses, opportunities and threats both internal and external. The changes that could affect an organisation are any Political Changes such as a change in government, legislation, taxation,; any Economic Changes such as inflation, interest rates, unemployment; Social Changes such as population trends Technological Changes such as breakthroughs, new products and technologies, Implementing any strategies will need time and effort but they should not be imposed. The management of change is an important part of strategic implementation. Change cannot be forced on employees or implemented too quickly or there will be industrial problems. The idea of change is opposed for many reasons including job insecurity; fear of loss of status; pay cuts and job losses; breaks in routine; learning new skills and methods; change of work site and work colleagues. As the New Vintage Car Company is a small business it may be able to weather any of the changes which could affect the business. As the business uses a collaborative approach to management, the employees are part of the decision making process and the strategies which would affect them would be discussed collectively The Paton-Johnson model (2007 p109) can be used, as it suggests sequential stages for the management of change through initial conversations about change; diagnosis of what needs to be changes, how and why; the development of a new vision for the organisation and its employees which is shared and a plan to implement the changes. A useful addition to strategic strategies is Warrs Vitamin Model (1987) which considers the well being of company staff and the changes made in the organisation as vitamins to help the health of the company. Healthy minded employees work well and increase production which benefits the company. Employees need to know they are valued and respected within an organisation and if they do not feel this way they are discontent. 5 Conclusions There are many reasons why strategies fail and companies fail with them. Companies need to understand their market and their competition both now and in the future, know their own strengths and weaknesses and be aware of any opportunities which may come and any threats which are looming. The New Vintage Car Company will need to be confident of their employees competence in handling the new strategy and to introduce the changes gradually and with communication, cooperation and participation. Although strategic management is a complex process it can be handled efficiently although too much constraint may be limiting any future visions for the company. As a collaborative company there are just as many pitfalls as for those with top-down management style ‘too many cooks as well as ‘dictatorships. Strategic management consists of interpreting, and continuously reinterpreting, the possibilities presented by changing circumstances for achieving an organizations objectives. Strategic management processes are essential for an organisations success but they need to be paced and not rushed as this is where mistakes are made. The aim of the report was write a report about a chosen firm within the automotive industry (real or invented) indicating the stages, steps and processes involved in the planning and analysis, formulation and implementation and evaluation of the strategic management process. This was achieved through a brief investigation into the strategic levels associated with the New Vintage Car Company. The objectives of the report were o understand the importance and characteristics of strategic management to all forms of organisation and this was achieved through a review of the levels of the strategic management process and the theories and models with strengths and weaknesses. References Ansoff, I (1965) Corporate Strategy New York: McGraw Hill, Argyle, M. (1972, p.201) The Social Psychology of work, Penguin UK Armstrong J S (1982). The Value of Formal Planning for Strategic Decisions Strategic Management Journal 3: 197-211. Axelrod, R. and Cohen, M. (1999) Harnessing Complexity: Organizational implications of a scientific frontier New York: The Free Press, Chandler A (1962) Strategy and Structure: Chapters in the history of industrial enterprise, New York: Doubleday, Chartered Institute Of Personnel And Development. (2005) Managing change: the role of the psychological contract. Change agenda. London: CIPD. David, F (1989) Strategic Management, Columbus: Merrill Publishing Company, Drucker, Peter (1954) The Practice of Management, New York: Harper and Row, Grundy , T. (2006) Rethinking and reinventing Michael Porters five forces model. Strategic Change. Vol 15, No 5, August. pp213-229 Henry A. (2008) Understanding Strategic Management Oxford University Press Hughes, M. (2006) Change Management: A Critical Perspective. London: Chartered Institute Of Personnel And Development. Johnson B (1999) Introducing Management : a development guide for new managers Oxford: Butterworth-Heinemann Johnson A Paton K (2007) Health Promotion and Health Services: Management for Change Oxford: Oxford University Press pp107-128 Johnson G Scholes K (2002) Exploring Corporate Strategy London: Pearson Education Ltd Lamb, R B (1984) Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall, McGee et al (2005) Strategy: Analysis and Practice UK: McGraw Hill Moncrieff, J. Is strategy making a difference? Long Range Planning Review, vol 32, no2, pp273-276. Michaud C Thoenig J C (2003) Making strategy and organization compatible. Basingstoke: Palgrave Macmillan. Mink/Esterhuysen/Mink/Owen, (1993) Change at Work Action Science Approach cited in Schumacher W D, (1997) Managing Barriers to Business Reengineering Success (Business Process Management Group) (www.bpmg.org) Pettigrew A. and Whipp R. 1993 p.5 Managing for Competitive Success Oxford: Blackwell Porter, M. (1980a) How Competition Forces Shape Strategy, Harvard Business Review, September-October, pp.137-145. Porter, M. (1980b) Competitive Strategy, New York: Free Press. Porter, M. (1998) Competitive Strategy: Techniques for Analyzing Industries and Competitors, New York: Free Press. Turner S. (2002) Tools for success: a managers guide. London: McGraw Hill. Warr P (1987) Work, Unemployment and Mental Health Oxford: Oxford Unviersity Press http://www.cipd.co.uk/subjects/ corpstrtgy/changemmt/chngmgmt.htm accessed 10 May 09 Harvard Business School (2002) Toward Continuous Change: Staying Competitive Through Change Harvard Business School Press (http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?referral=3035id=7188BC) accessed 12 May 09 Appendix A The New Vintage Car Company is a small specialist car making company which restores old classic cars but it looking to branch out into making new build cars based on the classic models of previous decades through a partnership with another small car company which produces self build car building kits for classic cars such as the MG. The company employs a skilled team of classic car body builders, wheelers, panel beaters, wing makers, and fender manufacturers who are skilled in working aluminium, steel, stainless steel, copper, brass and magnesium alloy as well as restoring ash frames from old cars or fabricating new wooden frames. The company has experience as vintage car coachbuilders has helped with classic car projects, from manufacturers including: Alvis; Amilcar; Auto Union; AC; Alfa Romeo; Aston Martin; Allard; Austro Daimler; Bentley; Bugatti; Bristol; BMW; Cadillac; Cisitalia; Cooper; Daimler; Delahaye; Delage; Invicta; Jaguar; Lotus; Lancia; Lagonda; Lamborghini; Maserati; Mercedes; Morgan; Porcshe; Riley; Rolls-Royce; Railton; Sunbeam; Tojeiro; Vauxhall; Veritas. The company has successfully completed a wide range of car commissions, from simple body repairs on existing bodywork to complete restorations and new bodies, sometimes from the most basic of plans. Commissions are from the whole of world motoring history, from fantastic exotica such as the 1938 Alfa Romeo Bimotore and two 1930s Grand Prix Auto-Unions, to a Mercedes-Benz 300 SLR Gull-Wing Magnesium Coupà ©. (adapted from http://www.rodjolley.com/flash/flashed.html)

Was the War of 1812 Pointless? :: American America History

Was the War of 1812 Pointless? The War of 1812 proved to be the most serious challenge to face the United States since the country's birth. This 'Second war of Independence' perhaps changed American history as we know it though. This essay will discuss the causes for this war assessing whether there actually were valid reasons for the United States and Britain going to war or whether the whole 1812 war was just born out of "pointless aggression" The war of 1812 was a very unnecessary war. It broke out just as one of its chief causes (The Orders in Council) was removed and its greatest battle (New Orleans) was fought just after peace was signed. The war was unnecessary from a British point of view but for the Americans it was inescapable. The Royal Navy had kidnapped 3,800 American sailors and pressed them into service. The Orders In Council had deprived the United States of a profitable trade with France and can be seen as having ruthlessly subordinated American economic interests to the political interests of the British Empire. American farmers also blamed the orders, perhaps unfairly, for a fall in agricultural prices that produced a depression in the West in the years immediately before the war. On the frontier it was universally believed that Indian restlessness war stirred up by British agents although really American oppression has to be seen as a big cause of this too. America's war with Britain seemed inevitable although the Americans did everything they decently could to avoid it, although there seemed to be endless provocation by Britain, for example in 1807 when a British frigate, the leopard opened fire on an American frigate the Chesapeake. The choice before America, Jefferson the former president and his successor Madison agreed was war or submission - to fight or to undo one of the main achievements of the revolution and accept total defeat in international affairs to England. As John Quincy Adams put it "It was not a matter of dollars and cents, no alternative was left but war or the abandonment of our right as an independent nation" The offences committed against the United States were the major provocation's for the war, reasons other then vindication can be regarded as rationalisation. There was an obvious anger for what British had done to America and many Americans merely wanted revenge but the war was fought for much more then that.

Made to Order Hero Essay -- essays research papers fc

Made to Order Hero   Ã‚  Ã‚  Ã‚  Ã‚  Many times in life we encounter an individual that touches us in some profound way. The relation of this individual to the person they are influencing is as diverse as the personal experiences that causes this admiration. This individual, or hero, can impact and totally change the direction of someone's life. A hero can be anyone, from a professional athlete, to a public service figure, to a relative or parent. Each hero is defined by an individual's definition of what a hero is and should be. The definition of a hero has not always been this liberal. As time and the world have progressed so has the definition of the word hero. The poems Beowulf and Sir Gawin and the Green Knight are shining examples of how the definition of a hero can change. Using these two poems I will demonstrate the fact that the standards that need to be met, or the heroic code, is an ever-changing definition that evolves and adapts with the progression of time.   Ã‚  Ã‚  Ã‚  Ã‚   Beowulf and Sir Gawain are both considered heroes by their peers, but they must both conform to a different set of standards to maintain their identity as a hero. Each set of standards seems representative of the times in which each story takes place. The story of Beowulf takes place before the story of Gawain, in a time that is more primitive and violent era, a time when manhood and heroism were defined by the way of the sword and not the way of the word. Gawain on the other hand, appears to dwell in a place and time that puts more emphasis on honoring one’s word and not on proving ones self with a weapon. Beowulf can be considered pre-Christian, thus naturally he followed a more barbaric, violent code. Gawain seems to abide by the Christian code of values, possibly influenced by the church and the Bible. Gawain seems to make an effort to be more noble and less like a savage. This is proven throughout the Gawain poem as the setting and attire appear far more sophisticated and proper than in the Beowulf poem. â€Å"Perhaps the repeated emphasis on complex design and lavish display is enough to imply a date towards the end of the century† (Vantuono XVII). The end of the 14th century places Gawain in a time that had been influenced by the Christian belief, therefore explaining why he tends to follow a heroic code that places emphasis on being proper, kno... ...its me here;   Ã‚  Ã‚  Ã‚  Ã‚  So did our covenant stand In Arthur’s court last year- Wherefore, sir, hold your hand! (Longman 2327-2330) Gawian makes his mark as a hero of the Arthurian period by standing by his word even though he had several opportunities to run away and hide from the Green Knight. Gawain knew that dishonor was far more devastating than any death could ever be, thus making Gawain a hero to those around him.   Ã‚  Ã‚  Ã‚  Ã‚  Both Beowulf and Gawain were heroes to those they lived with. Beowulf became a hero by having no fear, facing all adversity without apprehension. Beowulf fights in order to be a hero. Gawain, on the other hand, establishes his place as a hero by living by a more Christlike code. He hunts down the Green Knight in order to fulfill his promise, even though he knows it means his death. This makes him a hero to those in King Arthur’s court. Works Cited Damrosh, David. The Longman Anthology of British Literature. Vol 1. â€Å"Beowulf† and â€Å"Sir Gawain and the Green Knight†. Addison-Wesley Educational Publishers. 2003 Vantuono, William. Sir Gawain and the Green Knight. University of Notre Dame Press. Notre Dame, IL. 1999 Made to Order Hero Essay -- essays research papers fc Made to Order Hero   Ã‚  Ã‚  Ã‚  Ã‚  Many times in life we encounter an individual that touches us in some profound way. The relation of this individual to the person they are influencing is as diverse as the personal experiences that causes this admiration. This individual, or hero, can impact and totally change the direction of someone's life. A hero can be anyone, from a professional athlete, to a public service figure, to a relative or parent. Each hero is defined by an individual's definition of what a hero is and should be. The definition of a hero has not always been this liberal. As time and the world have progressed so has the definition of the word hero. The poems Beowulf and Sir Gawin and the Green Knight are shining examples of how the definition of a hero can change. Using these two poems I will demonstrate the fact that the standards that need to be met, or the heroic code, is an ever-changing definition that evolves and adapts with the progression of time.   Ã‚  Ã‚  Ã‚  Ã‚   Beowulf and Sir Gawain are both considered heroes by their peers, but they must both conform to a different set of standards to maintain their identity as a hero. Each set of standards seems representative of the times in which each story takes place. The story of Beowulf takes place before the story of Gawain, in a time that is more primitive and violent era, a time when manhood and heroism were defined by the way of the sword and not the way of the word. Gawain on the other hand, appears to dwell in a place and time that puts more emphasis on honoring one’s word and not on proving ones self with a weapon. Beowulf can be considered pre-Christian, thus naturally he followed a more barbaric, violent code. Gawain seems to abide by the Christian code of values, possibly influenced by the church and the Bible. Gawain seems to make an effort to be more noble and less like a savage. This is proven throughout the Gawain poem as the setting and attire appear far more sophisticated and proper than in the Beowulf poem. â€Å"Perhaps the repeated emphasis on complex design and lavish display is enough to imply a date towards the end of the century† (Vantuono XVII). The end of the 14th century places Gawain in a time that had been influenced by the Christian belief, therefore explaining why he tends to follow a heroic code that places emphasis on being proper, kno... ...its me here;   Ã‚  Ã‚  Ã‚  Ã‚  So did our covenant stand In Arthur’s court last year- Wherefore, sir, hold your hand! (Longman 2327-2330) Gawian makes his mark as a hero of the Arthurian period by standing by his word even though he had several opportunities to run away and hide from the Green Knight. Gawain knew that dishonor was far more devastating than any death could ever be, thus making Gawain a hero to those around him.   Ã‚  Ã‚  Ã‚  Ã‚  Both Beowulf and Gawain were heroes to those they lived with. Beowulf became a hero by having no fear, facing all adversity without apprehension. Beowulf fights in order to be a hero. Gawain, on the other hand, establishes his place as a hero by living by a more Christlike code. He hunts down the Green Knight in order to fulfill his promise, even though he knows it means his death. This makes him a hero to those in King Arthur’s court. Works Cited Damrosh, David. The Longman Anthology of British Literature. Vol 1. â€Å"Beowulf† and â€Å"Sir Gawain and the Green Knight†. Addison-Wesley Educational Publishers. 2003 Vantuono, William. Sir Gawain and the Green Knight. University of Notre Dame Press. Notre Dame, IL. 1999