Wednesday, July 31, 2019
Financial Analysis of Competition Bikes Essay
Financial Analysis of Competition Bikes Introduction            In financial analysis a complete assessment of a business organization covering competitiveness, profitability, liquidity and stability concerns. Financial analysis of a business is undertaken by reviewing the business’ financial statements. Summarized financial statement reports are frequently presented to executives and top managers for setting up business goals as well as making decisions. Analysis of the financial statements of Competition Bikes demand evaluation of the internal operation focusing on vertical, horizontal, ratio and trend analyses and the working capital. These evaluations communicate profit margins enabling projection of budgets and restraining sales and costs potential. Annual comparison of production performance subject to profit versus overhead helps in forecasting of budgets for production ingredients on a monthly basis (Shim, J. and Siegel, J. 2009). Competition Bikes Horizontal Analysis            This is the examination of percentage changes in comparative statements of a business. In this case, it is the evaluation of Competition Bike’s comparative statements between the year 6 and 7 as well as 7 and 8. The horizontal analysis chart helps in indicating the value of accounts payable differential in year 6 and 7 as well as year 7 and year 8. The company’s net sales soared up by 33.3% between year 6 and 7 at $1,495,000. However, net sales differential between year 7 and 8 was a negative implying that sales decreased by 15% at $897,000. Therefore, it is essential that Competition Bikes increases annual sales to reap higher profits. The value of gross profit registered was a negative figure of $266,600 equivalent to 16.3% decrease. Interestingly, the company registered a 37.5% gross profits increase between year 6 and 7 at $447,000.            The time period between purchasing of raw materials, manufacturing and distribution of goods is referred to as the operating cycle. The net period in collection of receipts from payments and sales is the cash conversion cycle for the different ingredients consumed and produced by Competition Bikes. The company witnessed a decrease in the operating cycle between years 6 and 7 from 50.52 to 48.00 days. This is explained by the increased growth of sales relative to the inventories growth rate. The cash conversion period between year 6 and 8 was relatively negative. This is because Competition Bikes Inc has a high liquidity owing to the short receivables period supplemented by a lengthy payable deferral period. It is indicative of the efficient management of the company’s resources.            The aggregate of administrative and general expenses between year 6 and 7 increased at $156,440 equivalent to 20.4% increase. However, the increase between year 7 and 8 was significantly lower at $11,004 equivalent to 1.2% increase. Still, Competition Bikes Inc operating income between year 6 and 7 increased at $191,820 equivalent to 154.6% increase. However, this parameter decreased at $318,392 equivalent to 61.9% decrease. Higher profits were registered between year 6 and 7 relative to year 7 and 8 which registered a dcrease in profits.            In addition, the company’s cash account differential between 6 and 7 was a decrease of $142,451 equivalent to 54.6%. However, this differential increased between year 7 and 8 at $326,475 equivalent to 275.4%. The net liabilities difference between year 6 and 7 was $128,620 equal to 1.2% increase. According to horizontal analysis, the total liabilities differential from year 6 to 8 was a decrease at $35,500 or 1.9% (Brigham, E. and Houston, J. 2007).            Still, Competition Bike’s common equity differential between year 6 and 7 was a 2.9% increase equating to $119,914 increase. Horizontal analysis of the same parameter indicates a fall between year 7 and 8 equal to $2,400 or 0.1% decrease. Since year 7 and 8 registered a lesser loss comparative to the gain between years 6 and 7, Competition Bikes Inc. broke even in the former years from the aggregate of year 6 and year 7. Competition Bikes Inc Vertical Analysis            In vertical analysis, an exploration of a company’s statement of financial position is considered to validate each element comparative to the total assets as a percentage. For the income statement, vertical analysis involves exploration of the various variables subject to total sales. This analysis helps in evaluation of the financial performance of Competition Bikes Inc with time. The tabulation below indicates the Vertical Analysis of the Competition Bikes Inc’s Balance Sheet Account elements Year 6 Total assets ($4,199,303) Year 7 Total assets ($4,319,217) Year 8 Total assets ($4,316,817) Notes and accounts Payable 1.6% 4.5% 6.1% Accrued Salaries and other expenses 0.4% 0.3% 0.3% Accrued Expenses 0.5% 0.6% 0.6% Mortgage 42.9% 39.4% 37.1% Long term Liabilities 2.1% 2.0% 1.9% Stockholders Equity 52.5% 53.3% 54.1%            Competition Bikes Inc Vertical Analysis assesses the liabilities, equities and assets of the company. Overall, the operating expenses fluctuated in little figures indicate a strong internal control policy. Therefore, there was little depreciation on the company subject to the operating sales versus costs. The proportion of liabilities decreased over the three years indicating an improved ability in Competition Bikes Inc to settle debts. The proportion of common equity relative to debts increased over the period signifying a growth in the net capital of the company. Competition Bikes Trend Analysis            This is the evaluation of the financial performance of a business over time. Firstly, Competition Bikes Inc balance sheet figures increased tremendously between years 6 and 8. This signifies growth and expansion trend in Competition Bikes. On average, the company grew at 3.3% which is a sustainable growth rate. Over the three years, the sales dropped significantly and especially between year 7 and 8. Nonetheless, the profit margin was relatively strong due to little fluctuations in overhead costs such as materials, productions costs and carrier fees. Therefore, it is potentially possible that the future sales in years 9, 10 and 11 high provided the company maintains the current growth and expansion rate.            Based on trend analysis, it is anticipated that the company’s sales in future will remain strong. This inspires the shareholder to invest more in the company over the next three years. Profits are anticipated to increase at 103.2%, 107.6% and 111.8% over the next three years respectively. In additional, further prodding of the company’s financial statements indicates a declining rate in sales growth rate. For instance, the company sales increase at 8.65% between year 6 and 7 as well as 9.85% between year 7 and year 8. Nonetheless, the significantly small sales growth rate is associative to higher boost in net income which rose by 12.82% and 14.46% in year 7 and 8 respectively. Competition Bikes Ratio Analysis            It is the determination of the past years financial performance relative to other companies ratios, trends as well as those of the company/business under review. These ratios include liquidity, profitability and efficiency ratios.            Liquidity ratios extracted from the statement of financial position determine the ability of the business to pay its debts at and as when they fall due. The fractions are significantly important in computation of the business ability to meet its short term and long term financial obligations and goals. Quick ratio is computed by dividing quick assets by current liabilities. The company registered a low quick ration of 3.11% and 3.21% for years 8 and 7 respectively. This is because as a motor bike retailer, the company must hold high levels of inventory meaning that most of the working capital ends up tied. Considering that the company enjoys a small inventory turnover ratio, this is not a worrying level.            Efficiency ratios include the inventory turnover ratio and the average collection period. The former is obtained by dividing total sales by total inventory. This ratio indicates the efficiency and the rapidity with which the company manages to sell its bikes. In year 7 and 8, the company’s inventory turnover fell from 46.7 to 45.9 indicating decrease strength in paying off debts. The latter ratio is the anticipated period of cashing owed receivables from clients. Competition Bikes Inc current average collection period is 102.6 days. It is not an ideal duration because it implies delayed conversion of receivables into cash for clearing debts and expenses.            Profitability ratios include return on assets and gross profit margin. The former ratio assesses the aptitude of Competition Bikes to raise revenue from its assets. The company’s return on asset parameter in year 7 and 8 was 4.52 and 4.25 respectively. The gross profit margin at the same period was 27.4% and 27% respectively. However, this was a 4.7% drop from the previous 5.3%. The fall in profits translates to poor operations and hence the need to evaluate the company’s strategies. Competition Bikes Working Capital            This is the difference between the current assets and the current liabilities. It is important to a business because it determines the available resources for increasing production, hiring additional staff, merging and buying out other companies as well as investing in expansion projects. The company had a working capital of $2,123,000 and $1,768,000 in year 7 and 6 respectively. The increased values in working capital indicate an advanced working capital over the three years. Internal Control Strengths and Weaknesses            These are predominant in the accounts departments. The company has adequate resources to finance its operations now and into the future. This is because all activities are adequately covered financially. Besides, the company boasts a readily available clientele with a potential to attract additional clients. The company maintains a check and balance system to control sales, purchase and cash management translates to a strong internal control system.            Corrective action in weaknesses lists changes to be made to enhance completion of targets and achieving of total significance in a business. The operations and management for implementation are executed by the management to ensure resolution of identified weaknesses. When the firms adopts a tracking system, execution of identified strategies top resolve the deficiencies is easily executed. Corrective actions were installed to improve production and purchasing deficiencies. This is to help in constant inquiry as well as cooperation among various departments in the business. Risks            Businesses face constant risks and threats and therefore, it is important to identify, address and mitigate the risks. Competition Bikes is susceptible to numerous risks such as increased competition resonating to low profit margins. Therefore, the company must strategize on maintaining and attracting additional clients. Still, the internal controls are a threat to the company. Impromptu competition between purchasing unit and the accounting department may result to delay in payment of invoices. Proper communication lines must be set within the company to address broken communication. Compliance            Competition Bikes Inc compliance with Sarbanes-Oxley is indicative of the stringent monitoring controls that the company has installed for internal auditing purposes. This assures stakeholders of the efficient management of the company as well as in compliance with different regulatory framework. Compliance entails provision of an admirable working framework such as motivation of employees, retention of skilled labor and recycling of products. Recommendation            Considering the past performance of the company, it is recommended that the firm must maintain a sound internal control system. This will report deficiencies such as weaknesses in financial reporting. It will help in securing a lock tight financial recording and documentation. Closer monitoring and evaluation of the excess raw materials and manufacturing surpluses will be maintained in reasonable amounts reducing overspending and potential theft. References Bateman, T. S., & Snell, S. (2013). M: Management. New York, NY.: McGraw-Hill Companies. Internal Control Systems. (2011, July 4). Committee of Sponsoring Organizations of the Tread way Commission (COSO). Retrieved December 12, 2013, from http://www.coso.org/documents/COSO_ERM_ExecutiveSummary.pdf.Kieso, D. E., & Weygandt, J. J. (2012). Intermediate accounting (9th ed.). New York: Wiley. Shim, J. K., & Siegel, J. G. (2012). Schaum’s outline of financial management (2nd ed.). New York: McGraw-Hill. Source document
Allopathic and Naturopathic approaches to Metabolic Syndrome Management â€MS revisited
Metabolic Syndrome (MetS) is also called as syndrome X, cardiovascular metabolic syndrome, insulin resistance syndrome. It is a cluster of risk factors associated with an elevated risk of development of Hyperlipidemia (elevated triglycerides and low levels of high density lipoprotein (HDL), hypertension, abdominal obesity, glucose intolerance and concomitant insulin resistance. It develops risk of heart and diabetes disease. Adler,R (2007),The journal of alternative and complementary medicineMany people are suffering with this syndrome which has deadly effects. This is the right time that we seriously look into it and curb the epidemic. Definition of Metabolic syndrome (MetS) itself varies with different agencies. But the symptoms are accepted generally. This dissertation looks into varies definitions, allopathic and naturopathic approaches in dealing with the problem, limitations and further research required. DefinitionThe two important definitions of Metabolic Syndrome are â€Å" Based on the guidelines from the 2001 National Cholesterol Education Program Adult Treatment Panel (ATP III), any three of the following traits in the same individual meet the criteria for the metabolic syndrome: Abdominal obesity: a waist circumference over 102 cm (40 in) in men and over 88 cm (35 inches) in women. Serum triglycerides 150 mg/dl or above. HDL cholesterol 40mg/dl or lower in men and 50mg/dl or lower in women. Blood pressure of 130/85 or more. Fasting blood glucose of 110 mg/dl or above.(Some groups say 100mg/dl) The World Health Organization (WHO) has slightly different criteria for the metabolic syndrome: High insulin levels, an elevated fasting blood glucose or an elevated post meal glucose alone with at least 2 of the following criteria: Abdominal obesity as defined by a waist to hip ratio of greater than 0. 9, a body mass index of at least 30 kg/m2 or a waist measurement over 37 inches. Cholesterol panel showing a triglyceride level of at least 150 mg/dl or HDL c holesterol lower than 35 mg/dl.Blood pressure of 140/90 or above (or on treatment for high blood pressure)†(2002,January 16). Web extension to The Journal of the American Medical Association, Retrieved April 8th, 2008 from the World Wide Web:http://jama. ama-assn. org/cgi/content/abstract/287/3/356 Metabolic syndrome is present in 4. 6 percent of normal weight men, 22. 4 percent of overweight men, and 59. 6 percent of obese men. Distribution of the same is similar with women. In last decade obesity among the adult population has doubled. Approaches of Allopathic and Naturopathic practitioners on Metabolic SyndromeAllopathic and Naturopathic practitioner’s analyze the patient and go through Laboratory findings before going for further diagnosis and treatment. Adler explains â€Å"After a battery of expensive and/or invasive diagnostic tests confirms the obvious diagnosis, six to ten different expensive and potentially hazardous medications are prescribed to treat the d isorders. On the other end of the continuum are a few practitioners whose prescriptions are limited to exercise, stress reduction and dietary modification†. Adler,R(2007),Volume13, 11-12. The journal of alternative and complementary medicineAllopathic practitioners prescribe drugs and balance it for each and every individual nonconformance which causes metabolic syndrome and advises for life style change. Naturopathic practitioners mostly rely on life style changes. Diagnosis systems are same with Allopathic and Naturopathic systems. But when it comes to treatment and specifically on life style changes with diet, there are differences of opinion with individual practitioners. Basically the treatment for metabolic syndrome does not have a sure shot formula; it is mostly dependent on patient cooperation.Hence for a practitioner treating a metabolic syndrome person is an art during clinical intervention. As Sir William Osler said â€Å"†¦ it was more important to know the p atient that had the disease, than to know what kind of disease the patient had†. (24-26, July 2006) The Epoch times Diabetes Diabetes found to be a serious metabolic disease. Especially those consuming western diets, this problem is in higher side. When there is a malfunction in insulin producing beta cells of the pancreas, disordered happens in metabolism of carbohydrate, protein and fats.Due to insulin secretion is very low; cells cannot use the glucose to convert into energy. This glucose circulates in the blood till kidneys excrete. Since the body cannot use glucose available in the blood for converting into energy, it has to burn protein and fat available in the body hence fatigue and weight loss occurs. Type-2 diabetes is associated with metabolic syndrome. Due to age factor the pancreatic function is unable to cope with dietary excess and obesity. In some cases its functions diminishes. Hence an Allopathic practitioner will prescribe drugs and suggest for life style cha nges.Naturopathic practitioner will solely depend on intake of diets, natural supplementary diets and life style changes. Obesity Controlling obesity is important in metabolic syndrome. â€Å"Those who are overweight should shed excess fat and avoid alcohol, white flour products and white rice, as these make insulin less sensitive†. Needes (2002), Page 257, Naturopathy for self healing, B. Jain publishers. â€Å"Any man with a waist greater than 40 inches, or a woman with a waist greater than 35 inches is considered to be at high risk for developing diabetes†. Sethu. S.(Summer 2004), Web extension to Cleveland Clinic Magazine, Retrieved April 8,2008 from the World Wide Web:http://www. clevelandclinic. org/clevelandclinicmagazine_2004/news/syndrome_x. htm Stress Under stress, adrenal hormones induce the release of fat and sugar into the blood which is used for energy. Those who are not able to handle stress and always with unmanaged abnormal stress, the blood sugar rema ins high and release of insulin from pancreas is depressed. The people who practice meditation and yoga are able to control and manage stress very well.It is noted that the persons who change their total life style inclusive of stress management are able to control diabetes than who only change their diets. Stress disrupts normal eating habits. Carbohydrate, Protein and Fat When carbohydrate diets are taken in complex form it breaks into glucose very slowly in the blood. With the continuous conversion of glucose into energy, the sugar level in the blood remains constant. Hence the requirement for insulin becomes lesser. A high complex carbohydrate diet which is high in fiber and low in protein is better than old recommendations of a low carbohydrate, high protein combination.Low protein diet reduces saturated fats and fibre prevents glucose to from releasing quickly. A calorie level which consists of 70-75% complex carbohydrates, 15% protein and 10-15% fats and oils will ensure very high fibre content and reduces the cholesterol levels. Oats, spelt, corn, barley, peas, beans, fruits and vegetables are rich in carbohydrates. Even some high fibre foods are having high glycaemic rate. Hence these should be avoided. It found effective in an attempt to reduce serum cholesterol and triglycerides in type-2 diabetes when they were administered with fish oils.But subsequently blood glucose levels increased and insulin sensitivity decreased. Hence at this moment Fish oils to be avoided for diabetes. Also further studies should be conducted in this regard for better understanding and solution. Meat has more phosphorus and sodium levels. These things should be kept very low for diabetic. Hence meat should be avoided as a protein source. To lessen the kidney damage, protein levels need to be kept low and should not be above 15% of total calories in the diet. Needes (2002), Page 259, Naturopathy for self healing, B.Jain publishers. Moderate exercises improve cholesterol lev els and maintains weight. It increases metabolism, blood circulation and reduces the need for insulin consumption by the body. Fenugreek seeds, dandelion root, Goat’s rue, Blueberries and red gum bark are good for insulin production; strengthen the immune system, cholesterol and triglyceride levels are maintained within acceptable limit. Limitations, Challenges and Further research in metabolic syndrome A single clear solution cannot be arrived because of various factors involved in metabolic syndrome.Even with so much of research in diet for metabolic syndrome, there are differences with practitioners on combination of low and high carbohydrates, proteins and it depends on individuals who have different life style. Further research should give us clear idea of this combination. A common index value to be arrived based on the laboratory findings of triglycerides, HDL, hypertension, abdominal, obesity, glucose intolerance and insulin resistance. Based on that index value a sin gle drug with different combinations to be invented to control metabolic syndrome.Research should be carried towards this direction to avoid many treatment aspects involved in MS. Conclusion Till then it is strongly recommended that public should be educated regarding Balanced Glycemic Index (GI) and Glycemic Load (GL) to help in their diet planning to have a better control on their metabolic syndrome. References Codario. A ( 2007),Type 2 Diabetes, Pre-diabetes and the Metabolic Syndrome, Humana Press Inc. US. Needes (2002) Naturopathy for self healing- B. Jain publishers Barker, Meletis (2003) Natural treatment for metabolic syndromeAdler (2007), Volume13, The journal of alternative and complementary medicine. Bray (2007), The Metabolic Syndrome and Obesity, Humana press Inc. US. http://www. aafp. org/afp/20040615/2875. html www. americanwellnessnetwork. com http://www. ahrq. gov/clinic/3rduspstf/physactivity/physactrr. htm. http://www. americanheart. org/presenter. jhtml? identifi er=4756 http://www. clevelandclinic. org/clevelandclinicmagazine_2004/news/syndrome_x. htm http://circ. ahajournals. org/cgi/content/full/109/3/433 http://diabetes. webmd. com/tc/metabolic-syndrome-topic-overview http://www. efluxmedia.com/news_Kids_with_Sedentary_Life_Show_Early_Signs_of_Metabolic_Syndrome_15990. html http://jama. ama-assn. org/cgi/content/abstract/287/3/356 http://longevity. about. com/od/longevityandillness/a/metabolic_syndr. htm http://www. liebertonline. com/doi/abs/10. 1089/act. 2006. 12. 157? journalCode=act http://metabolicsyndrome. about. com/od/nutrition/a/GlycemicIndex. htm http://www. massagetoday. com/archives/2004/09/14. html http://www. ncbi. nlm. nih. gov/pubmed/18370746 http://www. nlm. nih. gov/medlineplus/metabolicsyndrome. html http://www. nutritionandmetabolism. com/content/2/1/31 http://www. usatoday. com/
Tuesday, July 30, 2019
Canada Great Britain Comparison
Comparative Analysis of Canada’s Relationship Between Great Britain and the United States Introduction For centuries, the British Empire was comprised of multiple dominions, colonies, and territories ruled by the United Kingdom of Great Britain. The British Empire was present in areas all over the globe. Around the early 1900’s the Empire was said to govern a total population of almost 500 million people, and covered about one quarter of the total land mass on Earth, which was spread all around the world.This empire was known to be the largest formal empire that the world had ever seen. The empire reached its greatest extent at the end of World War I, and at that point the empire included some of the following land territories: British Isles, British West Indies, British Guiana, British West Africa, British East Africa, India, Australia, New Zealand, South Africa and Canada. Around the end of the 19th century, the economic lead that Britain had successfully kept for man y years was beginning to become eroded. Read Essay In Westminster Abbey AnalysisWith this erosion of leadership came a great decolonization movement by most of the territories that were under control of the British Empire. Both World War I, and World War II put extreme financial and population strains on Britain, and even with the large amount of territorial extent the Empire no longer had the industrial or military power it once had. The empire relied heavily on the territories till the end of the Second World War. By the end of World War II, the Empire had no choice but to grant independence to most of its territories, which most joined the British Commonwealth of Nations.The Commonwealth of Nations is known as an intergovernmental organization of 54 independent states that were once part of the British Empire. Within in the Commonwealth the states cooperate with a framework of common values and goals, which include the promotion of democracy, human rights, good governance, the rule of law, individual liberty, egalitaria nism, free trade, multilateralism and world peace. There is no political union in the Commonwealth, but the groups of states are regarded as equal in status.The â€Å"Head of the Commonwealth†is considered to be Queen Elizabeth II, who also is considered as reigning constitutional monarch of 16 different Commonwealth members, including Canada. In this paper I want to focus on the important historic relationship between Canada and Great Britain, and also touch on the growing relationship of Canada and the United States. Also, I want to examine what Canada might be doing in the future within the international community. Canada was a very unique member within the Commonwealth.Canada was considered to be a senior player in the Commonwealth of Nations, because until the early 1900’s it carried the title of ‘dominion’ alone. It wasn’t until the British Colonial Conference that the title of dominion was given to any other independent state. Canada was con sidered to be the most advanced member of the Commonwealth in terms of population and economic development, and also its relations with Britain were the most complex due to it’s geographical location with the United States. The relationship between Britain and the Canadian Dominion moved along a ‘decentralist’ path very quickly.Canada is known to be the largest member of the Commonwealth in total landmass, and its border with the United States is known to be the longest border in the world. Canada also has the fourth largest gross domestic product in the Commonwealth with a total of 1. 5 trillion dollars, and ranks ninth highest in the world. Canada ranks very well in the international rankings for education, quality of life, governmental organization, and economic freedom. Canada was first of Commonwealth Nations to participate in large economic groups such as the G7 and G8. Association With Great BritainIn 1867, after Canadian delegates discussed the details of the British North America Act (BNAA) in London, the term Dominion was adopted to describe the status of Canada in the British Empire. The dominion delegates of Canada had made it obvious that they were starting to feel more independent from Britain, but even with the beginning of separation Canada still followed the parliamentary structure of Britain. After the British North America Act was adopted by Canadian officials, and was accepted in 1867 as the constitution of the Dominion, the Parliament of Canada came into existence.The Parliament of Canada was modeled exactly from the British Parliament. The Canadian Parliament was granted limited power in regards to the amending of the constitution. When Canadian parliament sought after any amendment change of the BNAA it was required that there be a ruling by British law. As stated earlier, Canada held this status solely until the Colonial Conference in 1907, which was the time when the remaining self-governing colonies also took on th e status of Dominion. After the BNAA was solidified the relationship between Canada and Britain quickly began to decentralize.The Prime Minister of Britain, Arthur Balfour, stated to the British House of Commons â€Å"that these children of empire were now grown up, referring generously to ‘those self-governing Colonies of the Empire over which no office in this country has any control at all’,†(Wigley pg. 7). During the first decade of the 1900’s, Canadian government leaders formulated three questions in regards to their position in the Empire; rendering solicited assistance to the mother country of Britain, the extent of association with British defense and foreign policies, and the ways in which they and Britain would discuss imperial problems in confidence.Officials then participated in conferences in order to figure out the British-dominion affairs. The Imperial Conference of 1923 was a very important conference for the British-dominion affairs. It c reated debates that focused on the unified partnership between Britain and the dominions, and whether they should proceed together or independent from each other in the areas of foreign policy, defense, economic affairs, and the making of international treaties. After the 1923 Imperial Conference, another conference was held in regards to the economic standings between Canada, other dominions and Britain.For both political and ideological reasons, the conference obtained a theme of independence, and there seemed to be no hidden implications for Canadian autonomy. Britain and Canada stood side by side with each other, and accepted their equality as commonwealth partners. All dominions, including Canada, felt as though their own particular conditions were required to be dealt with in the best interests of the Empire, but could be promoted by allowing for each to do with the conditions what they wished.During the 1930’s and 1940’s, Prime Minister William Mackenzie King ha d been working hard and successfully to obtain national unity in Canada. He felt that that Canada needed to be cautious with its foreign policy and should avoid commitments. This is why many believe that Canadian policy during this time was summed up in two words ‘no commitments’. Many thought it was best to avoid controversy and division in Canada since unity was so fresh in the minds of the Canadian people. The Canadians had become very comfortable with their autonomy, which was made very apparent at the start of World War II.For the first time, Canada had made a decision to declare war separate from Britain. The Canadian government felt that cooperating too closely with Britain at that point might negatively affect constitutional developments for Canada in later years. Throughout the 1940’s the Canadian parliament kept putting up a wall in between Canada and all other dominions and Britain. Prime Minister King would not meet with any of the dominion prime mini sters or British parliament other then for personal consultations, and rejected to offer new support for the Commonwealth.One might conclude that highlight of Canadian independence had come from the interactions during World War II. Canadian Participation in The World Wars In the early years of the 1900’s, when the problems that started World War I were beginning to brew, the relations between Britain and the dominions remained in a highly unresolved state. The British Empire, even though had granted dominion independence to Canada, still relied heavily on their military support. During this time the British parliament created the Imperial War Cabinet.The purpose of the cabinet was to register the dominions’ claims as regards to their constitutional and functional place in the empire, to brief their representatives on current problems. The cabinet brought all overseas dominion and colonial government officials together during the Imperial War Conference in 1917. In 191 4, Britain had declared war on Germany, and by doing so the British forces called for the Empire’s support. While many British leaders thought that there would be little participation from Canada, they were surprised to see the willingness Canada had to participate right from the start of the war.After two months from the start of the war Canada had armed around 30,000 men and sent them to Britain. In 1910, Britain had given control of Canadian Naval defense completely to the Canadian Parliament, which allowed for Canada to have completely control over navy bases located in Halifax and Esquimalt. By 1918, there were a total of 619,636 men and women who had served in the Canadian Expeditionary Force. Out of all the dominions and colonies, Canada’s contribution, for a population of less than 8 million people, was considered to be an outstanding contribution. Canada’s participation in the ar was to support its mother country of Britain, but by the time the war ende d Canada had become a unified nation, proud of their achievements and sacrifices. They were ready to play a larger role in the international community. During the years after World War I, Canada and other dominions had continued to meet with the British Parliament in regards to the autonomy of their countries. In 1939, British Parliament passed the ‘Statute of Westminster, which gave Canada and the other dominions the constitutional right to make their own decisions in all of their affairs.So when it came time to commence the Germans again in 1939, Canada was not so quick to jump up to show support. The Canadian Parliament had decided that if Canada was going to show support in the war they wanted to do so as an independent declaration. The purpose behind this later declaration of war was to formally underline Canada’s independent status. When Canada declared war the idea was to contribute mostly in the form of war materials, there was no immediate decision to secure a large army for the use overseas.The Canadian Parliament created a set of goals to do the following: Maintain defense and security of Canada including the development of the Royal Canadian Air Force and Royal Canadian Navy, provide vital food supplies to Britain, create an industrial program for weapons and ammunition, provide training courses for Allied pilots. Also, proposals for a British Commonwealth Air Training Plan was implemented in December of 1939, which allowed for the building of 65 training schools in Canada for Commonwealth countries.As in the First World War, Canada quickly sent around 23,000 untrained ground troops to Britain while Canada’s Air Force and Navy was built. In the Early 1940’s, the Royal Canadian Air Force grew substantially to around 206,000, which ended up playing a major role in the war against Germany. The Royal Canadian Navy also played a major role all around the world. The Canadian ships were helpful in operations not only in Europe b ut also in the Mediterranean and Pacific Ocean. Canada was applauded for keeping the lifeline to Britain open in the Atlantic. If Canada had not generously contributed men, aircraft, and ships to the battle, and if the ports of Canada and Newfoundland had not been available, the war would certainly have dragged on much longer,†(Munro pg. 60). The wars benefited Canada on an economic level, as well as a military level. Although Canada was showing signs of industrial economic growth before the wars, the growth was very slow. At the state of the First World War, industrial and agricultural products were in great demand by the Allies, Canada gladly offered up their products. Also the wars forced the government to create wartime regulations for the economy.By the end of the Second World War the standard of living for most Canadians became higher then ever before, vastly exceeding those of other dominions in the Commonwealth. Growing Relationship With The United States During the f irst two decades of the 1900’s, the United States had drastically grown to become a world power. With the global emergence of the US, and the steady decline in power of Great Britain, Canada was affected more then any country in the world. The growth of a relationship between Canada and the United States seemed to be inevitable, because of the geographical location of the two.Especially since the two countries shared borders, fisheries, and natural resources, which made the relations between the US and Canada become much more solidified, and the fact that the US economy had quickly boomed was an attraction for the Canadians since the Canadian economy had a much slower start at the beginning compared to the US. A big problem that Canada faced was the fact that some of Canada’s â€Å"best and brightest†had left Canada to go to schools, and find jobs in the United States, and never returned.In 1908, the International Boundary Commission was created as a permanent organization, which was responsible for maintaining the border between the United States and Canada. This was the first important initiative noted for the beginning relationship between Canada and the US. With the solidified border came some issues that presented themselves. The fishery disputes had remained to be the biggest problem for the relations between the US and Canada, which had ended up lasting for a long period of time.Since many of the rivers flowed from Canada directly across the American border the two countries had to create regulations to try and resolve the fishing issues. So the United States, Britain, and Canada worked together to create the International Fisheries Commission, which worked to settle disputes. One very large problem had come between the two countries, and almost ruined relations between them, this was the Alaskan Boundary dispute. The two countries worked with Britain’s cooperation to come to an agreement by signing 8 treaties, which would h elp to â€Å"clean the slate†of long-standing quarrels.At the start of the World Wars, Canada and the US had joined forces in the defense of North America. The Canadian parliament and the US government worked together to create a joint board of defense, which would continue to grow and become useful even after the World Wars. When the wars were over, the economic boom allowed for Canada to pull itself out of a depression and allowed for closer ties to be created with the United States between the two economies. Canadians welcomed investment into Canada from the United States, which had grown immensely over the beginning of the 1900’s.It seemed that less and less British trade unions were located in Canada, but more and more US unions where popping up all around Canada. It was starting to look as though American firms were beginning to take control of the Canadian industry, but it seemed for the time being that Canadians were unconcerned with this economic control. Whi le many Canadians began to worry about the Americanization of Canada, they still had a strong ‘craving’ for reciprocal trade between the two. During the time when Canada was awarded an independent seat in the League of Nations they urged the Americans to also join.When the US rejected Canadian leaders were disappointed. The Canadians felt as though the overall positive relationship that was had with the US was a prime example to Europe of how they should get along with each other. Canadian delegates reshaped the League by using the relationship that they had with the United States, expressing that â€Å"the world could learn from, ‘three thousand miles of undefended frontier’ between the US and Canada,†(Thompsan/Randall pg 101). After the end of World War II, the United States had complications arise with the Soviet Union, which began the Cold War.Canada became an important player in the Cold War not necessarily by choice. Canada was located directl y between the two rivals of the Cold War, which made it very hard for Canada to stay neutral. Also, in 1945, Canadian public opinion was swayed against the Soviet Union when documents were defected proving a Soviet spy ring was in Canada. Shortly after this the two neighboring countries sign a plan for joint air defense known as the North American Air Defense Agreement (NORAD), which was later changed to North American Aerospace Defense Command.This combined the air defenses of the United States and Canada. The agreement brought the U. S. and Canada closer during the Cold War, because they relied on each other for detection of nuclear missiles. Even though the two countries quickly grew closer during World War II and the beginning of the Cold War their relations began to deteriorate around the time of the Vietnam War. The newly elected leaders of Canada did not feel that they could supply the support needed to the United States during the Vietnam War, and they openly expressed disag reement with American policies in Southeast Asia.Many Canadians demanded that American influence be significantly reduced. For about twenty years after the Vietnam War the relations between the two countries stay strained. It was obvious that the governments had different perceptions on international events. Finally, in the late 1980’s, Canada and the United States reached a tentative trade agreement that would change the economic relations between the two. After the agreement came into effect trade between the two grew dramatically. The United States was taking around 80% of Canada’s exports, and Canada was receiving 70% of imports from the United States.The agreement grew with the addition of Mexico in the 1990’s, which became known as the North American Free Trade Agreement, and trade between the U. S. and Canada remained high even to the present day. Now the economic relationship is known to be the largest in the world. The imports and exports between the co untries still remain extremely high. Canada still remains the largest market for U. S. exports. The economies have become so intertwined that many businesses have developed internal production chains that operate back and forth across the border.It has continuously been made obvious that the relationship between the United States and Canada has continued to grow. In 2011, the two countries released the ‘Beyond the Border’ agreement. This agreement basically deals with the security perimeter on both sides of the border. After 2001, the United States tightened its border, which made the bilateral trade relationship more difficult to maintain. The agreement allows for more participation with security forces between the U. S. and Canada, and creates trusted travel of manufacturers across the border.This agreement has opened up the possibilities in the future for the United States and Canada to work closer with each other in order to harmonize rules in agricultures, food, en ergy, and the environment. What The Future Holds In present years, Canada has expressed great excitement in maintaining a relationship between both the United States and Britain. Current Prime Minister Stephen Harper has stated that he looks forward to working with the United States, while keeping communication with Great Britain.One has to wonder how the relations between Canada, Great Britain and the United States will progress. Currently, Canada shows no signs of letting its relationship with Great Britain deteriorate. The Canadian people understand that their relationship with Britain is deeply rooted, and that they share common history and values. In late 2012, the two leading government officials of Canada and Great Britain came together and signed a ‘Memorandum of Understanding for Enhancing Mutual Support at Missions Abroad.The signatures promote the co-locations of embassies, joint provision of services, and common crisis response. It is explained that their partnersh ip on multiple global issues has caused the relationship between them to show an increase of strength. Canada still shows feelings of loyalty to the commonwealth, and is excited to maintain membership in it while making plans to work with Britain for future reform of the commonwealth. Canada could be considered the daughter of Great Britain who ended up marrying the United States.The relationship between the United States and Canada is also deeply rooted, and the two countries understand each other very well, because they share similar cultures, norms and values, and share an economic relationship like no other two countries in the world. Also, growing numbers of people move back and forth for education and work. Another obvious reason why the relationship seems to have no future of deterioration is the fact that the two share the worlds longest, unprotected border, and share security of the border.In years to come it seems that Canada will continue to work closely with the United S tates to build up its security alliance, and also reinforce the role as most trusted ally to the U. S. By doing this we would see a large focus on cooperation on trade issues, international policy and promotion of democratic norms. If this was to happen then we might see Canada address problems that they have with NAFTA, and strengthen their military relationship with the United States. Also, they might base their global relationship more on their relationship with the United States.Since the world is changing, Canada needs to protect itself and reduce the likelihood of failure. While the political powers and economy of the U. S shows signs of becoming weaker and less vigorous, Canada should create options as a backup plan. Growing countries such as China could benefit from creating an economic relationship with Canada. Realigning some of its assets and interests with new rising powers makes good economic sense. Prime Minister Harper has recently met with the Chinese president to cr eate an agreement that would better protect Canadian businesses that might want to capitalize on their growing economy.In the coming years, it is possible that we could see Canada take some of its economic focus away from the United States, and shift it to other parts of the world to become more involved in the international community. Many are unsure of what course Canada will take into the future. The international community is always growing, and Canada has made sure to keep itself involved within the community. The future seems to hold much success for Canada as a strong economic player, whether it is to continue a close relationship with the United States or branch out and create new relationships with other strengthening countries.Bibliography: -Canada’s World, Rising Powers: Future Directions, http://www. canadasworld. ca/learnmor/ninenewr/risingpo/futuredi. 2012 -Huffington Post, Beyond The Border: Deal to Bolster Security and Reduce Trade Barriers. http://www. huffin gtonpost. ca/2011/12/07/beyond-the-border-perimeter-security-canada_n_1134463. html. 2012 -Government of Canada, Canada and the United States: No Two Nations Closer, http://www. canadainternational. gc. ca/can-am/Closer-etroites. aspx? view=d. 2012 -Lain Munro, Canada And The World Wars, Wiley Publishers Toronto, 1979.Pgs 28-70. -Thompson, Randall. Canada and The United States, Georgia Press, 2008. Pgs 101-145. -Foreign Affairs and International Trade Canada, Canada and the World: 1921-1939, http://www. international. gc. ca/history-histoire/world-monde/1921-1939. aspx? lang=eng&view=d 2011 -Peter Lyon, Britain and Canada: Survey of a Changing Relationship, London, England 1976. Pg. 141-150 – Philip Wigley, Canada and the transition to Commonwealth, Cambridge University Press, 1977. Pgs 1-20 -Andrew Porter, Britain’s Empire in 1815,
Monday, July 29, 2019
Investment and Private banking Assignment Example | Topics and Well Written Essays - 3250 words
Investment and Private banking - Assignment Example A large market share of the UK banking sector is at the hands of a few banks due to mergers and acquisition. This has made the market less competitive due to reduction in the number of independent private banks. However, UK has been successful for many years as a financial sector with many foreign banks entering the market. Hoare’s bank has defied the above mergers and acquisitions and remains as one of the oldest independent private bank in the UK. It is managed and financed by the descendants of Sir Richard Hoare who was its founder. The bank has been profitable for many years and maintains a relatively small customer base. This has enabled it to specialize in personalized private banking. It has a range of banking services tailored to satisfy individual’s customer needs as well as wealth management. The bank has put up measures to ensure that only trusted and high net worth individuals open accounts at the bank. The bank has also embraced IT to help it improve the efficiency of service delivery. However, it is recommended that the branch should open more branches to add to the current two and thus give access to more customers. It should also improve its IT systems to deter cyber frauds. Introduction In the 1960s, there were eleven English clearing banks and five Scottish banks (Melton 2002). Five decades later, mergers and acquisition have led to the creation of four major players in the UK namely; Barclays, Lloyds Banking Group, Royal Bank of Scotland, and HSBC (Temim & Voth 2013).
Sunday, July 28, 2019
Examine the stock returns for both Pfizer and AstraZeneca during the Essay - 1
Examine the stock returns for both Pfizer and AstraZeneca during the bid process and provide possible reasons for changes in price on key dates - Essay Example t a company then price of the company’s stock is likely to rise while price is likely to fall is an expected acquisition is likely to be detrimental. Factors such as â€Å"investment strategies,†â€Å"ownership forms,†â€Å"capital structures,†and â€Å"dividend policies†that are likely to change with an acquisition are also likely to influence stock prices (Moyer, McGuigan, & Kretlow 2008, p. 12). In addition, expressed opinions by investors can either improve or reduce share price at a time (Khan & Zuberi 1999, p. 45) and all these could have influenced prices and return of the two companies’ stock. One of the key dates in the takeover period is November 25, 2013 when Pfizer informed AstraZeneca of intended takeover. Even though it was a private correspondence, it could have spread to stakeholders and a perceived lost value among Pfizer’s stakeholders could have triggered the observed negative change in stock price. Price for AstraZeneca however increased afterwards to indicate perceived benefits by the company’s stockholders. These suggest that Pfizer offered better economic prospects than AstraZeneca did at the time, and its internal environment could be more promising than that of AstraZeneca. On May 1, 2014, Pfizer made public its takeover interest and suffered a subsequent decline in price, which begun two days earlier, and perceived loss of advantage by existing stockholders as well as possible negative investor opinions could have caused the decline. At the same time, stock price for AstraZeneca declines and this could be a response to Pfizer’s price trends that made it less attractive. The fall in stock price for Pfizer continued until 7 May, a time at which the British Prime Minister expressed concerns over the takeover, and then stabilized until mid May. Price for AstraZeneca stock however remained constant over this period. Pfizer’s persistence on the takeover, against its shareholder’s confidence could explain the fall and the
Saturday, July 27, 2019
Clinical Reflection Journal Essay Example | Topics and Well Written Essays - 750 words
Clinical Reflection Journal - Essay Example to sleep because of too much pain and another patient urinated on herself because she was afraid and unaware of how to disconnect or if she should disconnect her IV monitor. Another patient also suffered pain and ended up urinating on himself despite the fact that he pressed on the call button attached to his bed. He had arthritis and was even given a pencil to press on the call button. However, he was never told that the call button was not working. Another patient ended up slipping on the bathroom floor because he had to urinate and was not informed that he could use the call button to ask for assistance in getting to and from the bathroom. His urinary urgency was strong and he helped himself to the bathroom and in the process, he ended up injuring himself. One patient ended up screaming himself hoarse because of the intense pain he was suffering. Again, he was not informed about the call button. His blood pressure and pulse rate increased while he was enduring the pain. He was als o agitated and was almost suffering an anxiety attack due to the pain he suffered. He suffered through an hour of extreme pain before anyone came to his aid. Once again, he was not informed about the call button. In general, no effort was made by the nurses for the Hispanic patients to be informed about the call button. Since the patients did not understand the nurses, no extra effort was made by the nurses to secure translator who could explain to the patients about the call button. In the end, the patients were placed in awkward and detrimental situations – suffering more pain, urinating on themselves, and not being relieved of their symptoms. The major cause of concern in this situation is when these patients need to communicate life-threatening concerns – extreme pain, heart palpitations, angina, and other symptoms which may need immediate attention. If the nurse does not make or find a way to make the patient understand about the call button, these
Friday, July 26, 2019
Casino questoin Term Paper Example | Topics and Well Written Essays - 250 words
Casino questoin - Term Paper Example The casino is operational in 24 hours per day and provides relaxed house rules to meet the competing needs of clients (Morse & Goss 49). It has amazing bonuses and rewards, good online casino security features and excellent customer services. The business operates around its main core values, which include accountability, respect, integrity, honesty and citizenship. The core values guide the direction, and services offered in the business. In this perspective, the core values extend beyond the business practices and incorporate every team member since they are an integral part in the business. The casino employs skilled workers with the similar values and objectives as of the business. The advent of casinos on tribal land has improved employment and social amenities such as hospitals and clinic facilities and schools. Gambling provides individuals and the community with economic resources, which allows them to make investments in other industries and enterprise. Other economic impacts include the increase in tax revenues, enhance recreational and tourism opportunities and rising property value (Morse & Goss 89). However, gambling has increased job insecurity since workers have no regulations to secure their interests. Gambling has economic value to the business as well as to the society, and therefore, I could focus on increasing technologically advanced gaming facilities. The trend aids to increase the social and economic values to clients, society and the business (Kilby & Fox 90). Regular improvements, innovations and good customer services could ensure the business remains on its core
Thursday, July 25, 2019
Critical Assessment of a Brief of Evidence from the Perspective of the Essay
Critical Assessment of a Brief of Evidence from the Perspective of the Police Officer Checking the Brief - Essay Example Since, there is a wide variance in the facts of cases this application by the jury is to a very large extent dependant on the application of commonsense and community perceptions. Moreover, the law is such that the level of justifiable self-defence is significantly dependant on the level of danger presented by an attacker. Furthermore, a defendant cannot be convicted for an offence unless the court is convinced first, that the defendant committed the act alleged by the prosecution and second, that the defendant had the intention to commit that act. In other words, it has to be established beyond any doubt that the act was something about which the defendant was aware and had all intent to commit. Such inferences can be drawn if no other rational or reasonable conclusion can be surmised from the evidence presented by the prosecution. "In cases where the evidence discloses a possible defence of self defence the onus remains throughout upon the prosecution to establish that the accused is guilty of the crime of murder and the onus is never upon the accused to establish this defence1." In this connection in The Queen v Howe2 it was held that, "The state of the law appears to be that once a ground is disclosed by the evidence upon which a plea of self defence may arise, it is essential to a conviction of murder that the jury shall be satisfied beyond reasonable
Organizational Behavior Essay Example | Topics and Well Written Essays - 750 words
Organizational Behavior - Essay Example 1.1. Effectiveness of the Discussion between Robert Denton and OD Consultant Robert Denton, the Plant Manager of Kenworth Motors held job for eight months with the belief that things are going on well. With the purpose to stimulate the organization’s performance, Denton invites the OD Consultant to discuss the situation. Thereby, the discussion was conducted about how the work is going on in the plant through employee interview. Denton explained that if the employees work together with full effort and cooperation then there will be good progress in the organization and this will lead to a high level growth. The effective words were to work well together and do a good job. These words are most effective because any person desires to get a good job in any of the organizations to obtain a specific goal or objective. People look for jobs in those organizations that are having good name and fame. Therefore, it is of considerable importance. To bring high level of growth, firstly, t he employees should be trustworthy. Secondly, the task given to the employees has to be done sincerely and thirdly, there should be proper coordination with the employees, group leaders, coordinators and also the high level managers. The consultant confirmed the things that were prevalent in the plant through an interview and also explained the shortcomings of this approach. The discussion was ineffective and in order to make those effective, proper meetings could have been held so that the Manager, Consultant and the employees could share their ideas and may also receive the feedback of each employee. The Consultant suggests that if the matters are to be held in different manner instead of interview, it would have been more effective. So, Denton responded by asking for other options, which would bring a significant effect in the organization and would also make things better. The consultant suggested a weekend retreat for the management teams through which the team could gain impro vement to various issues. 2.1. Retreat Planning and Implementation Robert Denton suggested the OD Consultant to hold a weekend retreat as it offers a place for further enrichment of the employees’ performance. This type of retreat is very helpful to the employees as this course provides different information, ideas regarding how the works are to be carried on in different fields, how to handle the issues and monitor them into the practical area. Through this course the employees can be made aware of various situations, social issues, economic conditions and other related business issues. The team leaders are often treated to be a guide to the employees. Sometime seminars are held in order to express their own views and ideas. For some employees, the working field might be totally new having no idea therefore this type of courses are most essential to know the other working fields. The employees get to know the works that are carried out in the practical field. Few problems mi ght occur due to which there may be a low growth rate, occurrence of risk etc; at this point how to tackle the problems or to find a solution, how to bear the risk, all these information could be gathered through this retreat course. Also practical things are planned and implemented in various sectors. Proper planning, maintenance, directing and controlling are essential in
Wednesday, July 24, 2019
ODD and CD Risk Factors Term Paper Example | Topics and Well Written Essays - 750 words
ODD and CD Risk Factors - Term Paper Example The symptoms are: arguing with adults, loss of temper, refuse to obey rules, vindictive, low self-esteem, hold others responsible for their mistakes, angry and annoys people deliberately. Risk Factors Male children and teenagers are more prone to acquiring the disorder than their female counterparts. These children mostly are raised by parents who have a substance abuse problem, moody or with attention deficit. Marital conflicts coupled with child abuse are other factors that increase chances of acquiring ODD. Low socioeconomic status is also noted to contribute and lastly the presence of an inconsistent parental attention. Many researchers maintain that ODD is a benign disorder. Children suffering from ODD are associated with low intelligence and hence are poor academic performers. However, this does not mean that highly intelligent children do not exhibit conduct problems. Due to the hostility aspect exhibited by ODD children they likely end up with poor social lives. Their delinqu ent nature lands them usually in trouble with authorities. In respect to neurochemicals and their relationship with ODD development, studies have shown that low levels of salivary cortisol have a huge correlation with ODD. There is also evidence of genetic attributes liable for ODD. This is where family negativity links up well with antisocial behaviours mostly at the adolescent stage. In order to identify the progressive nature of the disorder in a child one is required to examine them through discussions, talk to their parent(s) and research on their medical past records. Other tests are also necessary so as to determine that it is actually ODD and not any other disorder or problem. This is necessitated by the fact that ODD manifests itself among other neuropsychiatric disorders (Boden, Fergusson & Horwood, 2010). This is in other words termed as comorbidity and examples are ODD coupled with depression and ODD and ADHD. Case disorder Douglas is now 18 years old and is in high scho ol. He is fully rehabilitated from drugs and is seemingly quite happy with the way life is going. However, life as it is has turned for the better for a boy whose life remained a nightmare for him and those around him since he was 12 years old. At this age he started being hot tempered especially when he was denied to go for dances by his parents. He was suspended at the 8th grade after fighting with other children. After returning to school he took up a lifestyle of bullying others and later swore at a judge. He was taken to a Youth Centre for 3 months where he assaulted a guard and got an extension to 7 months. After returning home he decided that was it and unsuccessfully attempted to hang himself. It was later found that apart from having ODD he was also a deeply depressed teenager. Conduct Disorder This is regarded by many researchers as a higher version of Oppositional Defiant Disorder. The one suffering from this disorder hugely curtails the right of others in a social settin g. They tend to be quite aggressive to people and animals. They bully and intimidate them, physically harm others, force others into sexual acts and engage in stealing mostly by confronting their victims. They destroy property deliberately e.g. by setting it on fire and other such destructive measures. They are deceitful and act as thieves by breaking into houses. They often lie to get what they want and involve themselves in petty thefts (Harley, Murtagh and Cannon, 2008). They seriously violate rules
Tuesday, July 23, 2019
Analyse the concepts of 'culture shock' and 'cultural adjustment' and Essay
Analyse the concepts of 'culture shock' and 'cultural adjustment' and critically assess some possible consequences of th - Essay Example It involves the difficulties in trying to assimilate into the new culture or the new environment which leads to difficulty in understanding what is proper and what is considered as not being correct. Mostly it is combined with a lot of disgust about some aspects of the different or new culture. In most cases, culture shock may not occur suddenly. It may take some time to begin affecting the moods of the person involved. The duration of time an individual may experience culture shock is based on the period they have to stay in that environment, their self awareness level and the period they take to adjust and blend into the new surrounding. If the person is able to adjust at a faster rate, the better for him or her since the shock may not be as severe as when they did not know anything about the new culture or environment. One may note that he or she is experiencing culture shock when they experience some symptoms such as self doubts and being hostile more than usual (Taylor, 1990). A n example of culture shock is in the case of a university student from a different culture attending school in a totally different environment, for example, an African student attending university in the United States. Such a student will meet a totally different type of culture from the one he or she is used to. He may get hard timed trying to adjust and blend in. These hardships are part of culture shock. Culture adjustment is trying to change according to the shock associated with the change of environment. Living in a different culture that is dissimilar from the one someone is used to may be an adventure that is exiting as well as a challenging one. No matter what country one comes from, once they move from their country to another, they will have to go through cultural adjustment due to the difference in cultures (Vivian, 1999). Understanding the process of adjustment may involve getting some support from other people who are familiar with the culture and may be an exiting exp erience, both professionally and personally. Culture may be defined in a number of ways that may bring out different meanings. In some cases, it may be used to refer to the act of appreciating good literature, food, art and music. For biologists, it may be used to refer to a colony of different types of bacteria or some other organisms. However, for the behavioral science, it is a range of patterns of human behavior. It may be otherwise defined as a complex whole that includes belief, knowledge, art, customs, law and any habits and capabilities that is acquired by people as a part of a given society. Culture is a very powerful tool for the survival of human, but it is also a fragile phenomenon. Culture is consistently changing and may be lost easily since it usually exists in the human mind (Rogers, 1996). Culture is comprised of different layers. The national level deals with the awareness of the dynamics of culture and their patterns by nationality. The national level is relevant for certain areas such as getting into new markets, cross border division and relationships based on international outsourcing. Another level is the organizational level which focuses on culture dynamics experiences in different organizations (Rogers, 1996). The other levels include the regional or ethnic level that involves the difference in culture between different ethnical groups, generation level that is
Monday, July 22, 2019
Prison Reform Essay Example for Free
Prison Reform Essay Reform was a major issue in early 19th century America because it was a time when more middle-classed Americans were able to devote time to social causes and issues that they saw that concerned them. One of these important social movements was prison reform, and how men and women in prison were treated. In the early 1800’s the United States was regarded as having the best penal system in the world. This is why during the early 1800’s Alexis de Tocqueville was sent from France to the United States to study the penal system there. What he was coming here to study was how the system of prisons had been reformed already by Americans. Many individuals, in particular religious advocates who took up the cause of prison reform, had established themselves as the voice of prisoners. They felt that while prisoners needed to do time for their crimes and be punished accordingly, they also had the right to have good conditions within the prisons themselves. These people had a goal of creating prisons that were conducive to not only punishing individuals, but reforming them became an important part of their time in prison. These religious reformers felt that prisoners should be reformed to become good citizens and, if they never left jail, then at least they could be religious individuals.            The successes of these reformers were that they did create a great amount of interest in reform. Many new prisons began to be built that would be more conducive to reforming prisoners. These successes were shortly lived, however, because sadly the prisons did not go up as quickly as the prisoners were going in and therefore old prisons that were not good conditions were still in use, and many prisoners still languished in them, in even worse conditions than before.
Sunday, July 21, 2019
Can the Tax Industry Be Self-regulated?
Can the Tax Industry Be Self-regulated? Tax Summative: Critically discuss the assertion that the tax industry cannot be trusted to regulate itself. Introduction, how is UK Tax Industry regulated? HMRC What ways have HMRC been successful? PwC scandal FOR Assertion Ethics Final Opinion It is well known that tax advisory work within the UK is a legally unregulated profession, therefore in order to uphold high standards, the profession depends heavily upon self-regulation by the professional bodies. It is understood that the accounting profession is more prevalent than the legal profession within the market for large business tax advice in the UK. The efficacious tax advisory role of accountants in the UK may, to a certain extent, be explained by the sound working relationships that conventionally exist between the accountancy firms and HMRC, the UK tax authority. It can be argued that that strong relationships with the UK tax authority have corroborated the advising position of the UK accountancy profession. The direct regulations of the tax advisory profession in the UK include a professional code of conduct that warrants professional conduct by incorporating aspects such as due care, integrity, confidentiality and objectivity, tax advisers who are affiliates of the CIOT (Chartered Institute of Taxation), ATT (Association of Taxation Technicians), or accountancy professional bodies are under obligation to follow this code. Consequently, affiliates who disregard the professional code may be scrutinised by the Taxation Disciplinary Board, which is an independent body established in 2001 by the CIOT and ATT. In addition, a percentage of tax advisers are bound by supplementary codes, for instance member firms of KPMG International practice a Global Code of Conduct which discloses the internal governance affairs of all KPMG firms. As a result of the investigations lead by the US Department of Justice into the US member firm of KPMG International with regard to the trade of tax shelters in th e US between 1996 and 2002, KPMG UK (as of 2004) now apply the UK Principles of Tax Advice which summarises the governance operations of KPMG UK in relation to taxation. The unfavourable perception of the UK tax advisory profession has encouraged the implementation of professional codes by the UK tax advisory bodies that highlight a high level of societal accountability of the tax profession, going past perceptions that stick to the definition of the law. Alongside direct regulations of the tax industry, indirect regulations of the tax advisory profession in the UK also exist. In spite of heated discussions in recent years, the UK Government has abstained from putting into effect legislation that would directly regulate the tax industry. However, UK policymakers have acknowledged tax avoidance schemes by introducing new legislation. Rules regarding the Disclosure of Tax Avoidance Schemes, or more commonly referred to as DOTAS, introduced new reporting obligations for both taxpayers as well as their advisors commencing from 2004. In addition, following detailed examination, the General Anti-Abuse Rule (GAAR) was implemented, in hopes of confronting abusive tax avoidance, the effects of which are yet to be seen as the legislation was only introduced in 2013. Consequential to the investigations led by the Public Accounts Committee (PAC), a select committee of the British House of Commons, the success and usefulness of the tax industry being able to regulate itself has become an area of intense political dispute in the UK. The investigations were triggered by the leak of almost 28,000 documents, evidencing the involvement of over 1,000 business, demonstrated the promotion of Luxembourg-based tax-avoidance schemes by PwC. Margaret Hodge, Chairman of the PAC, deemed the actions of PwC to be the promotion of tax avoidance on an industrial scale and called for the UK Government to take the initiative to have a more active role regarding the regulation of the tax industry as it evidently cannot be trusted to regulate itself. Members of Parliament demanded that the Government present a code of conduct for all tax advisers and proposed that submission to this code would govern whether or not companies delivering this service can attain both gover nment and public sector jobs (House of Commons Public Accounts Committee 2013). In addition to this, the Public Accounts Committee demanded that the professional bodies take on a greater lead and be more accountable for their actions with regard to tax avoidance. It is apparent that tax advisers play a very large part of the global issue of tax dodging, the effect being that it costs developing countries billions of pounds annually. The Public Accounts Committees 2013 report underlined the role that the Big 4 accounting firms play in tax avoidance as they generate billions of pounds a year as income from tax planning business in the UK alone, cash generated from worldwide clients is vastly greater. Tax Research UK director Richard Murphy claimed that accountancy firms are essentially the back-bone of the tax avoidance industry and that the act of tax avoidance would not be able to happen without accountancy firms as they are the key suppliers of tax avoidance practices. The PAC now have reason to believe that large accounting firms have been advising their clients of different and more complex forms of tax avoidance, such as developing intricate business operating models that are not limited to a certain group of countries, which impose on the lowest international rates of taxation. In contempt of the evidence submitted by PwC negating the allegations, the PAC concluded that the tax schemes displayed all the characteristics of a mass-marketed tax avoidance scheme. However, there is still cause to debate whether PwC had genuinely done anything wrong other than legally reduce the tax liabilities of its clients. It is important to distinguish the difference between tax avoidance which involves planning affairs within the given framework of the tax legislation in an attempt to reduce tax liabilities, and tax evasion which involves refusing to pay tax liabilities by suppressing knowledge or information from HMRC, or by providing dishonest information. Following the 10 year marker since HMRC was established from the merger of Inland Revenue and HM Customs and Excise, the ruling on the expanded divisions relative success or failure credibly lies somewhere in between. The merger to create HMRC was intended to improve customer service, coordinate strategies and construct efficiencies through economies of scale. We can conclude that the latter point has clearly been a success, however the former point disputably less so. References http://economia.icaew.com/news/february-2015/pac-tax-industry-cannot-be-trusted-to-self-regulate https://www.ft.com/content/d6eaba36-ad46-11e4-a5c1-00144feab7de https://www.marketingweek.com/2009/06/23/if-the-industry-cant-regulate-itself-then-the-government-will-step-in/ https://www.parliament.uk/business/committees/committees-a-z/commons-select/public-accounts-committee/news/report-tax-avoidance-the-role-of-large-accountancy-firms-follow-up/ http://www.pwc.com/gx/en/issues/regulation.html https://www.icsa.org.uk/knowledge/governance-and-compliance/features/june-2015-blurred-lines http://www.taxresearch.org.uk/Blog/2015/02/06/pwc-proves-time-to-end-tax-abuse-by-big-firms-of-accountants-has-arrived/ D. de Widt, E. Mulligan, L. Oats Regulating Tax Advisers, FairTax WP-Series No.6, 2016 Global Warming: Cause and Mitigation Global Warming: Cause and Mitigation Is our atmosphere being compromised from extreme utilization of diverse chemicals? This is the query that has been the position for foremost debate for several years, is human activities causing global warming? When debating in relation to global warming the prime thing to construe is what the foundation of global warming is, and the retort to this plain question is gases of greenhouse. Greenhouse gases are ordinary gases for instance Nitrous Oxide, CO2, or Methane and are produced in one modes or further ways. The preliminary way is, in the course of natural cycles, for illustration, CO2 is released in the course of plant process of photosynthesis or through animal respiration. The substitute greenhouse production of gas approaches from man’s employ of diverse products and fuels; this can direct to anthropogenic changes of climate. Changes of Anthropogenic Climate are conversions in the atmosphere owing to the various activities carried out by humans, and there are realities that these sorts of changes are all over the world. By researching the size of the ice caps of polar we can formulate out that they are constricting and this could be owing to a warmer heat of atmosphere due to the anthropogenic changes in climate. An IPCC details from 2007 signifying levels of a few of the gases of greenhouse additionally exhibits that the greenhouse gases levels in the atmosphere of earth’s has been increasing ever since the time of post-industrial, this can purely be features to human made machines which has been on rising. Diverse behaviors of human being activities are contributing to the rise in temperature of earth. Greenhouse gases are naturally occurring gasses that absorb heats which directly advanced by the sun rays and recoil of to the surface of earth; it’s not that these gases are atrocious in character, we in actuality depend on them to keep up our earth’s typical weather at a sustainable high temperature, which in matter of fact are purely constructive for our surroundings in moderation. The gases for illustration Carbon dioxide, Nitrous Oxide, and Methane in environment are expelled throughout means of inhalation, volcanic action, photosynthesis, and decomposition. They are in addition controlled by nature in succession to keep up these gases in safe restraint, for illustration, plants absorb carbon dioxide to run their cycles of force, this takes away from what is contemporary and composures the balances. During the industrial revolution when human being started carrying out various activities of production they started burning variety of substances for illustration petroleum and coal which have rocketed carbon dioxide levels released through the process of burning and combustion. When carbon dioxide was discharge in atmosphere a little section of what is set free is reabsorbed by natural entity, the respite of it continues lingering in the air. In point of fact, as per to the EPA statements on CO2 found just about 85% of the entire emissions of human greenhouse gas, this can be massive confirmation to sustain that anthropogenic changes in climate are in point sourcing global warming. The matter of global warming is just an inference, an idea, mostly unlock for debate, which is expressly spread out. As for my view on the topic, I expect global warming in point of fact is having an impact on our world. Acid rain is a good quality theme to glance at to uphold my belief, the rain pH levels possibly will not ever be an idyllic 7 owing to natural greenhouse gases, nevertheless they ought to not be at a level that would impair our atmosphere. The New York Times has constructed articles on how acid rain is influencing the Rockies and also national parks, I don’t perceive any additional source for this than a fast raise in pollutants. Other reasons for my worry are the apparent raise in force of tropical storms that have influenced our states and the news of so several tornadoes which can be source by friction of heat in the air. In view of the fact that we have released so much greenhouse gases into the atmosphere and sourced anthropogenic changes of climate, we h ave added to the heat that generates storms like these. I as well suppose in human advancement, consequently if we are going away to carry on moving forward like this, it is our accountability to place policies into play to conserve our welfare as well as our planets’. A number of mitigations have been fetched forth to determine issues for instance melting polar ice caps and acid rain, all sourced by global warming. One of these policies is recognized as Coal taxing, coal taxing is the idea of adding up a tax to our natural resources that are regularly utilized by industries and companies. The sum of tax that is appended on to the fuel sale would all rely on how much fuel emission would add on to the atmosphere when utilized. This idea was proffered in hopes to acquire companies who are endeavoring to be cost cognizant to do one of two things, either decline their operation of these fuels, which successively decreases the releases that they create, or obtain them to discover additional options to acquire energy. One such substitute is the wind mills application to take advantage of wind power which is in actuality extra cost efficient and atmosphere friendly, as a result why wind power might be on the rise. An additional possibility to restrict global warming is to control and capture carbon that is discharged into the air; this would more or less effort like when plant confines carbon for their cycles of energy. This idea might be effectual owing to the reality that it might considerably lesser levels of CO2 which are one of the utmost discharges in our atmosphere. On the other hand, it might be expensive to acquire the means and room to detain and store up the carbon. If I were to decide, I would state coal taxing appears the majority promising for two diverse reasons; not simply does this thought perhaps lesser our emissions, however it might as well motivate us to initiate into fresh forms of energy bringing on additional development for us in places we didn’t suppose to look, all the while being not as much of harmful to us. Whether you suppose in global warming, or you estimate it’s a myth there is large quantity of engaging things to reckon when analyzing at this topic. Are anthropogenic climate changes excruciating our ecosystem? What might be the effect of these changes in climate? Or not even is or energy habit destructive to us, other than are they outdated, and must we initiate discovering additional advancements? All of these can construct the mind to doubt and might even fetch global warming. References Anthropogenic Climate Change, [2013] retrieved from: http://www.global-greenhouse-warming.com/anthropogenic-climate-change.html Climate Change Indicators in the United States, [06.21.2013], retrieved from : http://www.epa.gov/climatechange/science/indicators/ghg/ Overview of Greenhouse Gases, [06.21.2013], retrieved from: http://www.epa.gov/climatechange/ghgemissions/gases/co2.html Iver Peterson, [1985,] Acid Rain Starting to have an effect on Politics and Environment in West retrieved from : New York times press 30.03.1985
BMWs Managing Information Systems
BMWs Managing Information Systems Management information systems (MIS) pertain to those systems that enable company leaders to make choices for the effective functioning of businesses. Management information systems are composed of computer resources, individuals, and processes utilized in the current business enterprise. MIS also pertains to the company that establishes and manages majority or the entirety of the computer systems in the company in order that leaders can make choices. The objective of the MIS based company is to provide information systems to the different levels of corporate leaders. MIS experts establish and aid the computer system all over the organization. Trained and knowledgeable to deal with company computer systems, these experts are in charge in some manner for almost the entire computers, from the biggest mainframe to the portable computers. Company Overview BMW is a German vehicle and engine producing organization established in 1916. It also manages and creates the MINI brand, and is the mother organization of Rolls-Royce Motor Cars. Mainly, BMW Group Brands are MINI, BMW and Rolls-Royce (BMW Education Programme 2009a). BMW is famous for its efficient and durable cars. And its mission statement is being a leader in the world as premium product provider and also premium service provider( BMW Education Programme, 2009b) BMW has established a reputation as both an engine producer and the manufacturer of luxury vehicles. They built the 3, 5 and 7 series, the M5, which represents sheer power, or the Z8, an innovative car. BMW has also proven its capability to resurrect legendary cars, reviving the legendary Mini and its acquisition of the Rolls-Royce brand (BMW Official Website, 2009). While the companys main office is still based in Munich in Germany, it has ten manufacturing plants all over the globe seven in Germany, one in Austria, one in South Africa and one in America, and sales units in sixteen nations where the vehicles are transported (The BMW Group, 2009). Aside from the vehicle segment, it stays as one of the important European producers of engines for civil aviation, through its partnership with Rolls Royce. Power merged with innovation is what BMW stands for. Overview of MIS of BMW The present automotive industry is classified by increasing product diversity and brief development periods. One of the important activities is to enter the market quicker by organizing the product development and production start-up procedures. One can attain this streamlining by doing a huge number of effectively coordinated procedures in parallel, utilizing a data structure that has all the data regarding the product and its types and is available at each phase to all people included in production planning (Clarke, 2007). This process, pertained to as integrated product and process engineering, is at available when one utilizes mySAP Automotive. mySAP Automotive integrates SAP Business Suite programs with customized operations to aid BMW- as well as other manufacturers, vendors, sales, and service companies attain substantial benefits by merging the whole engineering, production, marketing and service business sector. With mySAP Automotive merged within the operations of BMW, the company is able to improve important business procedures and attain important company objectives: * Competent staff and talent with effective procedures for workforce and talent acquisition * Financial stability with improved procedures for financial performance control * Operational effectiveness with improved procedures for operations control * Product and service dominance with improved procedures for product control * Excellent client value with improved procedures for sales and service mySAP Automotive is particularly created to address the needs and challenges of the BMW and the automotive industry. It is a comprehensive and effective solution for BMW that encompasses business procedures from engineering design, preparation, manufacturing, purchasing, sales and service (SAP for Automotive Website, 2010). Created to be a comprehensive and holistic management information system, mySAP Automotive is organized based on various market sectors that create the foundations of automotive industry. Roles of mySAP Automotive in BMW Provide information across various departments a) Operations More than any operational aspect, operations of BMW have been affected by significant developments in technology. As a consequence, production processes have evolved. For example, inventories are given just in time in order that huge sums of funds are not used for storing large inventories (Kiley, 2004). mySAP Automotive offers solutions for BMW in terms of vehicle and procedure modeling, preparation and manufacturing implementation. mySAP Automotive helps BMW ins terms of the improvement of the planning of the manufacturing process. Consolidated product and process modeling is attained within BMW through mySAP Automotive, where the modeling of every vehicular model and production procedures from the initial prototyping stage to the manufacturing stage is accomplished in one framework (Kidd, 2000). This minimizes information redundancy and the necessity for interfaces as information is saved in a solitary system. Cooperative engineering with suppliers provides new opportunities for more effective and quicker product development with suppliers online. Versatility and effectiveness in manufacturing within BMW is attained through the Model-mix preparation and immediate needs preparation feature of mySAP Automotive. Model-mix preparation enables BMW to improve the manufacturing sequence particularly essential for the company. Immediate needs preparation allows quicker processing of assembly and parts requirements of make-to-order setting as against the basic MRP. b) Accounting In BMW, all accounting documents are managed by all accounting managers (Laudon, 2007). In this case, mySAP Automotive offers solutions that improve the accounting procedures and policies of BMW. mySAP Automotive offers solutions that improve the accounting activities of the company, enabling them to respond more quickly and effectively to the industry demands. c) Finance mySAP Automotive offers financial data to all financial managers within BMW including the head of the finance department. The head of the finance department of BMW studies historical and present financial outputs, predicts long term financial necessities, and tracks and manages the usage of money over time utilizing the data produced by the mySAP Automotive (Buxmann, 2004). mySAP Automotive offers solutions that allow sales and pricing of cars through configuration, status monitoring of cars, sales and allocation of available components. Car customization and pricing online improved car sales of BMW by providing clients with the alternative of customizing their cars (Seese, 2008). Once the car is customized, car customization and pricing will identify the price of the car according to the customization. Car search and locator allows BMW to look and find cars that satisfy the particular configurations, attaining quicker delivery to clients. d) Marketing mySAP Automotive aids the marketing initiatives of BMW in the aspect of product development, dissemination, pricing choices, advertising, and sales prediction (Forquer, 2005). More than any other operational aspect, mySAP Automotive depends on outer sources of information. These references include rivalry and clients, for instance. e) Human Resource mySAP Automotive also helps with BMWs initiatives connected to employees, leaders, and other staff working within the company. Due to the fact that the role of the human resources is important to all other aspects of the operations of BMW, mySAP Automotive has an important responsibility in guaranteeing company development for BMW (Sankar, 2006). 2) Facilitate decision making at the three tiers of management a) Operational Level Systems To make the operational level decision making within BMW very simple and effective, mySAP Automotive helps in offering and disseminating updated data to proper users. mySAP Automotive is created to improve the reporting of data that will be critical in the correct decision making within the operational level of BMW. mySAP Automotive is able to immediately gather and edit information, summarize outcomes, and able to cope and correct mistakes immediately. b) Management Level Systems mySAP Automotive has automated and manual internal controls that help in the management level decision making activities in BMW (Kogent, 2009). Data is obtained through proper editing and inner control checks. A detailed inner and outer audit program is used within BMW through mySAP Automotive. c) Strategic Level Systems To have an improved strategic level decision making, information within BMW is analyzed and organized effectively and uniformly through mySAP Automotive. Gaps in the manner data is gathered and documented can alter data and trend analysis. Aside from this, since information gathering and documentation procedures will alter over time, so BMW management has created effective processes to enable systems developments through mySAP Automotive. These processes are always well defined and noted, effectively communicated to proper workers and has a monitoring system that aids in the strategic level decision making of BMW. 3) Serve as efficient means for managing business processes The establishment of mySAP Automotive within BMW is the consequence of the implementation of an environment of system management. The owners are the users of mySAP Automotive who understand current client needs and also have budget authority to finance new projects. In order to manage its business processes efficiently, BMW has strived in establishing ownership that advocates pride in its business procedures and aids guarantee accountability. Even though mySAP Automotive does not really completely minimize costs, the establishment of this important system, and its effective usage, minimizes the chances that erratic choices in business processes are done due to unreliable data (Dickersbach, 2005). Erratic business decisions essentially waste resources. This may lead in a detrimental impact on profits and/or capital. Management always guarantees that mySAP Automotive is established on a logical process that includes the following stages: †¢ Proper investigation of system options, approval areas as the system is established or obtained, and task management. †¢ Program establishment and negotiation of deals with suppliers. †¢ Systems integration and management. Management always takes into account the usage of business management processes to track development as mySAP Automotive is being integrated. Inner controls are created into the procedures and periodically assessed by auditors. Application of mySAP Automotive in BMW mySAP Automotive obtains customized production orders from BMWs planning system. The orders involve the components necessary to manufacture every vehicle; the X5, for instance, has lots of parts included in the car list of materials. mySAP Automotive produces the delivery timeframes for every component to match BMWs assembly-line preparation and organizing policies. BMW sends these comprehensive analyses and accurate JIT delivery timeframes to its suppliers. Major suppliers get the data through electronic data interchange (EDI). Other suppliers enter the mySAP Automotive official site, where BMW states the requisites to offer the latest data on its delivery necessities (Kuhlin, 2005). By logging online, suppliers can check this data in actual time, including release time frames, procurement files, receipts, and engineering files. When they send components, the suppliers send BMW forward transport notifications to give BMW with accurate data on component figures and delivery schedules. Components entering at the BMW premises are then obtained and shipped immediately to the line. There, BMW utilizes mySAP Automotive to check manufacturing status in actual time (Dickersbach, 2007). mySAP Automotive takes note of the manufacturing validation and components consumption data every three minutes. Components used during manufacturing are eliminated from the inventory list, and expenses are posted to compute the value of work in process. Client demand for BMWs new X5 sports car and its famous Z3 models needed a solution that would effectively increase and assist streamlined manufacturing. mySAP Automotive aids the company to minimize order-to delivery time, improves its supply chain initiatives in the aspects of demand planning and monitoring and locating of material deliveries, and enhances inventory precisions all over its production facilities- allowing BMW to tremendously minimize time to client for its efficient cars. Benefits of MIS for BMW Effective Solution BMW had been utilizing a customized data solution to handle its supplier and logistics needs. The organized was able to finish its integration of mySAP Automotive only a month after this management information system became accessible. mySAP Automotive provides BMW an effective, measurable structure that can be widened and changes to consider new functionality or developments in business procedures. mySAP Automotive offers BMW with top notch Internet operations and the commonly utilized business procedures from production preparations and purchasing to sales and allocation- for a total supply chain management remedy. The effective coordination between BMW and its business partners aids the engineering and massive manufacturing of customized products (Woods, 2006). BMW takes advantage of actual coordination on the Internet and instant pipeline visibility, enabling them to track developments in the midst of the development and manufacturing stages. Immediate Access to Data Important BMW business procedures are merged with mySAP Automotive so data stored in BMW systems can be readily viewed, including prediction requisites on a component stage, sales orders, and car bills of material. Since mySAP Automotive is not that hard to integrate, BMW is able to connect it with its modernized warehouse. The information systems transparent setting and expandability have also allowed BMW to immediately merge its own programs into the enterprise site for suppliers in mySAP Enterprise Portals. Aside from industry-based solution, BMW is utilizing mySAP Automotive for logistics, financing, and workforce improvement tasks. The organization has also established Internet programs for supplier quote establishment and investigation for manufacturing components, which have been integrated to the mySAP Automotive. Enhanced efficiency mySAP Automotive enables BMW to optimize profit opportunity, handle and limit expenses, enhance quality, and speed up time to delivery. Minimized risk Updated data regarding projects, procedures, functional performance, and markets provide BMW initial signs of changes in demand, client needs, and financial situations. Improved visibility and management Improved analytics enable BMW to determine accurately where theyre getting product and manufacturing expenses, allowing them to maximize efficiency in all of its resources (Knolmayer, 2009). Quicker time to market mySAP Automotive speed up the period to market by improving interaction, enhancing coordination, and managing consistent information in the whole procedures. Widened reach With mySAP Automotive, BMW is able to control the whole value chain, interacting through enterprise sites and allowing holistic coordination among workers, suppliers, and clients. Increased sales mySAP Automotive allow BMW to predict and cope up to market demands, determine new business trends, and exploit new ways to increase market share and profits. Assistance for business management allows procedures like car sales, car service, components management and finance to be effectively monitored by BMW (Missbach, 2000). Enhanced supply chain management Locate-to-order and make-to-stock procedures offer perspectives into the client needs, inventory, and capability allowing BMW to address client demands. Improved aftermarket service With mySAP Automotive, BMW is able to know client demands, improve customer service, and offer excellent assistance to improve revenues in the top end aftermarket business. Reduced overall expenses of ownership mySAP Automotive minimizes overall expenses of ownership by offering high end features and removing the necessity for the expensive interfaces needed by other information systems. Easy integration mySAP Automotive effectively mergers important aspects of BMWs operations, including supply chain management, product life-cycle management and business management (Stanford-Smith, 2001). mySAP Automotive offers BMW a centralized, merged foundation, so the company doesnt have to manage an information base of various systems. Conclusion The structure of mass manufacturing was initially introduced by Automobile industry a long time ago. But at present the industry is confront world competition and the demands of the industry have completely evolved. The clients are not anymore contented with limited options. They say what they need, the time they need it at the proper place. Clients are always perceived as an important resource for automotive companies. To address the demands, make-to-order manufacturing is essential rather than mass production. Here the effectiveness relies on speed; the pace of acknowledging market needs, the pace of establishing new frameworks, the pace of purchasing raw materials, the pace of manufacturing and the pace of shipping the products to the proper environments. Coordination the whole industry stakeholders-providers, dealers, and clients is important. The mySAP information system of BMW is offering seamless flow of data to organizing the operations. mySAP Automotive is more than a mere Supply Chain Management information system. mySAP Automotive provides a centralized information structure for engineering, supply chain management, purchasing and business management. Regardless of whether the organization is a car manufacturer like BMW, a provider of car parts or dealer, mySAP Automotive aids these organizations to concentrate on their clients. Important strengths of the mySAP Automotive information system lies in offering established processes, improved program tools, and open technology to obtain their mySAP Automotive information system up and running immediately and helping to attain their business objectives.
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