Is a College Degree Necessary Essay Example | Topics and Well Written Essays - 1250 words

Is a College Degree Necessary - Essay Example In my opinion, not every student should go to college. First of all, not every vocation needs a college degree. We live in a complex and diverse society and there are many different characters, such as, doctors, businessmen, professors, lawyers, skilled laborers, salesmen, gardeners, and so on. Different vocations need different degrees. A good mechanics does not need a college degree; he just needs to learn the skills about the way to fix all kinds of cars. A great gardener also does not need a college degree; he just needs to know the way to grow saplings make landscape designs. According to Mike, there are many high school kids who do not find college-prep classes interesting. Because of this, many of them drop out. They do not think that their schools are preparing them the way they should be. Here, an important point is that these kids are not defiant or lazy; rather they want to experience everything, learn practical skills, and pursue a respectable professional career upon graduating from high schools. On the other hand, if everyone goes to college to get a college degree, our society will be in a kind of disharmony. When you get a college degree, you will be unwilling to get some low-paying, dirty, or tiring job like dustman, dishwasher, or doorman. These jobs are of grass root level but necessary. We can imagine if nobody wants to do these jobs, the world will be in a disaster as no one would clean trash, nobody would wash dishes, and no one would clean streets. Our world will be dirty and cluttered. According to Mike, labor experts believe that the U.S. is likely to face a severe shortage of skilled workers. For example, the blue-collar baby boomers are leaving their jobs due to retirements and schools are not paying attention towards preparing others to replace them. The fact is that the U.S. needs blue-collar workers, such as, machinists, carpenters, welders, electricians, cable technicians, etc. just the

The current U.S. economic crisis and potential fixes Essay

The current U.S. economic crisis and potential fixes - Essay Example Citigroup, UBS, and JPMorgan have all announced negative earnings in their last financial reports as well as plans to lay off a significant number of workers. This paper carries out an analysis of how and why the crisis occurs and it evaluates the effectiveness of current measures used by the government to solve this crisis. The rest of the paper is organized as follows: Section 2 looks at how the crisis occurred, section three looks at the causes of the crisis that is why the crisis occurred; Section 3 looks at the regulatory environment and current solutions; and the last section provides some conclusions and recommendations. Sub-prime loans are loans offered to borrowers with no prior track record of good credit history3. Due to the risk inherent in the loans, they are often issued at very high interest rates so as to compensate for the extra risk that they carry4. A sub-prime crises or credit crunch is said to exist when a significant number of sub-prime loans have been issued to unscrupulous borrowers5. These crises pose difficulties to both financial institutions and the borrowers. The outbreak of the recent sub-prime crises came after warning signals of write-downs in the value of mortgages late last year6. House prices in the U.S witnessed an unusual growth between 1997 and 2005. For example, prices increased by approximately 85% during this period. The period 2001 and 2005 witnessed the highest rates of appreciation7. Sub-prime delinquencies and foreclosures were therefore mitigated by house price appreciations during these years. This is so because borrowers facing difficulties to make regular mo rtgage payments could depend on the appreciation of the value of their property to solve their financial problems by refinancing the mortgage and withdrawing cash from the increased equity in the house thereby sustaining the new mortgage for a while. Borrowers could repay the principal by selling off the property8. Appreciation in property prices

Importance of Supplier Relations Management

Importance of Supplier Relations Management Chapter 1: Introduction 1.1 Objective â€Å"Supply chain management (SCM) is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service and deliver it to customers.(Worthen., 2008)†. The main objectives of this research are to structure a supply network through multiple tiers. It extends in identifying the importance of Supplier relations management. Todays market as we know is customer driven, with extensive subcontracting, Inventory and supply chain management can make or break a deal. Good supply network emphasizes on seamless integration between Original Equipment Manufacturer (OEM) and its suppliers. It encourages in merging its design of Product, process and services. Regard to todays world, Global Supply chain Management is changing virtually every day (group, June 2006 ) Large and Small companies are keen and very likely to trade internationally and also to take advantage of low cost countrys for their sources. (group, June 2006 ). This study takes a more holistic approach in identifying issues and constraints of global supply chain management. A very rigorous approach for optimally coordinating information, material and financial flow between supplier ti ers is another objective of this study. Study is supported by mapping different models and approaches in order to provide a harmonic coordination within a closed supply network. As mentioned earlier small and large companies are turning their interest towards low cost developing countries for sources, this research intends to study current trends and opportunities among these developing nations for sustainable supply network coordination. Chapter 2 Literature Review 2.1 Summary This paper revolves around various objectives as discussed earlier. The purpose of a literature review is to describe the work that has been reported on a topic. It illustrates an individuals ability to identify vital information and sketch existing knowledge. This literature review is carried out to review current market trends and also to have a thorough knowledge correlating our main objectives. Ideas and thoughts of different authors has been analysed to demonstrate a more eccentric review of the topic. Few case studies has also been analysed to understand practical difficulties and competitive advantage of a better supply network design. Table 1 illustrates various definitions proposed by authors. 2.2 Multi Tier Supply Chain Overview and key elements In general many Manufacturing Organizations are a network production and distribution sites. They transfer raw materials to finished products and supply it to end users (billington 1992). Strategic supply chains are those in which â€Å"members are strategically, operationally, and technologically integrated†(Hult 2004) and are assumed to be a long-term stable relationships with a potential to change in accordance with the variable demands and market conditions(Hult 2004). Inventories play a very important role at both macroeconomic and microeconomic levels (Jaber 2009). According to (Jaber 2009), Current inventory costs accounts to half of total logistical expenses of a supply chain(Lancioni 2000). Improper Inventory management in a supply chain usually tends to increase conflicts between entities of the supply chain i.e., between retailer, buyer, manufacturer and suppliers, which may result to inefficiencies of the supply chain.(Jaber 2009). In a ideal supply chain every firm is considered to be unified, thus in an ideally integrated supply chain, end users or ultimate customers are the pulling force of a value chain unlike classical way of Manufactures pushing the goods out(Tan 2001). Realistically achieving full integration of a value chain is difficult with its complexity, thus strategically important business organizations are emphasized (Tan 2001). Key elements and activities of supply chain are as shown below. Key Elements Of supply chain According to (Christopher 2005), One important aspect of effective SCM is to reduce or completely eliminate Inventory issues between different entities/Organisation in a supply chain. He suggests eliminating this issue by effective information sharing of all stock levels. This concept is called ‘Co- Managed Inventory CMI.(Christopher 2005).(Tan 2001) Suggest that primary focus of a SCM is to achieve efficient end product distribution from manufacturer to customer by replacing inventories with information. Supply chain managements philosophy also suggests that its operations are not concerned only with logistics, but expands through all other operations of an organisation to achieve a greater customer satisfaction and value.(John T. Mentzer 2001).Other basic characteristics of a SCM, according to (John T. Mentzer 2001) are Considering the whole supply chain as a single entity and by this virtue, total inventory flow is managed in a SCM. Orienting Intrafirm and interfirm operations with a strategic approach and thus reinforcing its capabilities by co-operative measures. Unique/Personalized approach should be carried out for every customer to stay competitive and to achieve better customer satisfaction. For years Supply chain was considered as channels for distribution. The main intent of channel distribution was to make each organisation more productive and efficient. It emphasized on making each organisation more profitable without considering its other counter parts of the channel, i.e. like Tier1 suppliers, tier2, distributors or retailers (Lancioni 2000). Over the years with the advent of Supply chain management, focus drifted from intrafunctionaltowards a more interfunctional vision, by which co-ordination between these entities of SCM was emphasised. Interfunctional Channel distribution or termed as the modern day supply chain management considered the opportunity in supply network coordination: â€Å". . . altering the levels of the various activities, often referred to as logistical in nature (such as transportation, inventories, facility location, and order processing) may adversely affect achieving the objectives of these other functional areas†(Lancioni 2000). Thu s customer becomes the driving force of supply chain management. Supply chain analysis (SCA) deals with vertical inter dependencies between the firms; it also requires a systematic approach towards resource allocation and information exchange at every stage of production (Simchi-Levi 2000). Globalization represents cross-border flow of finished goods and increase in global competitors, identifying opportunities and competitive supply chain within its industrial sector(John T. Mentzer 2006). Realistically Supply-chain Managers identify difference between a domestic and a global supply chain even if the conditions are same. It is found that complexitys designing Global supply chain is exponentially high compared to a domestic supply chain, also its ability to stay competitive lies in understanding subtleties of GSCM that exists only during cross border trade offs(John T. Mentzer 2006). Supply chain distinguishes itself from its constituent entities with its integration of operations (Mahapatra 2004). Supply chain management goes beyond co-ordination among firms; it recognises inter dependencies among them and also delivers effective relationship management. Logistics is an integral part of effective supply chain.(Pierpaolo Pontrandolfo 2003) Suggest that Logistics operations within an organization can be related to Forward flow of goods both WIP and Finished goods Information flow feedback Management and Control Network Analysis (NA) is a technique which provides many tools to map relationship between internal organisations. NA also concerns with horizontal dependencies unlike SCA (Sergio G. Lazzarini 2001). As SCA and NA there are many other analyses methodologys suggests the importance of Interdependencies between organizations, According to (John T. Mentzer 2001) , the following activities are necessary to implement a better SCM. â€Å"Integrated Behaviour Sharing risks and rewards mutually Co-ordination Mutual sharing Information Goals and focus to serve customers Process integration Installing Long-term relations with suppliers and customers†(Mentzer 2001). The term supply chain management had an increased influence over the past decade. For instance, Annual Conference of the Council of Logistics Management 1995, 13.5% of the conference sessions posted titles concerning the words â€Å"supply chain.† At the 1997 conference, just two years later, the number of sessions about the terminology drastically increased to 22.4% (John T. Mentzer 2001). This increase has been steady all these years. This increase widely illustrates the global importance and benefits of Supply chain management. There are different types of channel relations in a supply chain as illustrated in Fig4. Supplier Organization/OEM Customer Figure3a: Direct Supply Chain Suppliers Supplier Organization Customers SupplierCustomer Figure 3b: Extended Supply Chain Third party Logistics Supplier Ultimate Supplier Organization Customer Ultimate Supplier Customer Financial Market Provider Research The figure1 identifies different degrees of supply chain complexity they are direct, extended and ultimate supply chain. A direct supply chain consists of a supplier and a customer involved in upstream and downstream flow of (Products, services, finance and information)(Figure: 4a.)(John T. Mentzer 2001) Similarly an extended supply chain includes suppliers, Immediate suppliers and customers and immediate customer, all involved in the upstream and/or downstream flows of products, finances, services and info(Figure: 4b). Thus an ultimate supply chain includes all the organizations involved in all the upstream and downstream flows of products/services/finances, and information from the ultimate supplier to the ultimate customer. (Figure: 4c) illustrates the complex functions of an ultimate supply chains. This may include 3rd Party Financial institutions; this involvement may be a cause to reduce overall risk involved. Similarly Even logistical operations are also supported by (3PL) In figure:4c , a market research firm is also seen as an entity of this complex chain. These may very well support the Manufacturer by providing vital market information about their end users.(John T. Mentzer 2001). Process of Supply chain management Many organisations believe that with process approach it is difficult to reduce/optimize their production flow in SCM (Cooper 2000). Customer relationship management Customer service management Demand management Order fulfilment Manufacturing flow management Procurement Product development and commercialization Returns. Multi Levels Explained It is necessary to understand different network analysis, methodologies to understand and resolve issues in designing a better supply chain management. Fig2 illustrates a basic model of a multi tier supply chain. Each level has its own importance and prominent influence over the chain thus making every level an integral part of the complex system. Fig2 is a sceptic of four level supply chain with centralised decision process. The different levels are as described below(Goyal 2009) First level-This Level of supply network contains multiple buyers/Distributor. Second Level- This level encompasses of Vendors or Manufacturer ie., Original Equipment Manufacturer. Third level- This level contains Tier-1 /Immediate Suppliers of the supply chain. Fourth level- This level contains different tier 2 suppliers. These suppliers support tier1 suppliers or directly to the manufacturer by providing product, service or finance.(Goyal 2009). Levels of issue The major issues at different levels that have to be addressed in a multi dimensional Supply chain are(David Simchi-Levi 2003). Strategic level: Strategic level of decisions are vital which provides and long and sustainable effect on an organization. Major decisions like factory location, storage, Plant capacity and logistic network fall under this level. Tactical level: These decision that change steadily(eg: every quarter) depending on market position, like transportation, production capacity, inventory policy, customer review etc., Operational level: These decisions are mostly day to day like scheduling, lead time, quotes, routing etc.,(David Simchi-Levi 2003). According to (David Simchi-Levi 2003), the above issues can be addresses with few strategies as follows Distribution Network Configuration Inventory Control Supply Contracts Distribution Strategies Supply Chain Integration and Strategic partnering Outsourcing and Procurement Strategies Product Design Contrastingly other author(Simon Croom 2000) looks to analyse supply chain management as different levels as addressed below. Dyadic Level: This level considers just two party relations, like Supplier-Manufacturer or Supplier-Retailer Chain Level: This level composes of relations with different dyadic levels, relations with customer-manufacturer-supplier-distributor-retailer etc., Network Level: This level is concerned with all network operations like upstream and downstream flow.(Simon Croom 2000). Areas of concern for Supply chain Literature Figure 6: Principle component bodies of supply chain literature Source: (Simon Croom 2000) 2.3 Global Supply Chain Management [GSCM] In this decade of global exploitation for raw materials, cheap and skilled labour has impounded interest towards global supply chain. Fig6 illustrates a typical Global Supply chain network. Interfunctional characteristic of a value chain has grown more complex and non feasible. Manufacturers usually set up factories in foreign to take advantages of low cost labour, trade concession, reduced logistic expense for foreign market, subsidies in capital investment it also makes manufactures more reliable to customers due to their close proximity(Gargeya 2005).Greater needs for GSCM is debated in this chapter below. Authors debate of many learning methodologies to understand framework of Global Supply chain management (GSCM). According to (Pierpaolo Pontrandolfo 2003) GSCM issues can be understood by an Artificial intelligence approach called Reinforcement learning (RL). Currently there are many such frameworks, helping different Multi National Companys as a business model. (Barry 2004), describes â€Å"An enterprise may have lowest over-all costs in a stable world environment, but may also have the highest level of risk if any one of the multiple gating factors kink up an elongated global supply chain!† In a global supply chain, supply risk should be identified, asses its possible occurrence and provided with a monetary value for better understanding, Companys should easily modify towards alternate suppliers (Barry 2004). 2.3a Current State Issues However experts believe that Global supply chain are more complex and difficult to maintain unlike domestic SC. Transportation cost tend to increase substantially due to foreign location, also complicates decision making because of increased lead time(Gargeya 2005). The other factors that dont encourage Global supply chain are listed below (Gargeya 2005) Inventory Cost Trade offs Supplier availability and Quality Different Language, Culture, practices Difficulties in Material planning and demand forecast Infrastructural incapability and non sophisticated telecommunication Inadequate skilled labour, Technology and Equipments Uncertain exchange rates Instable economics and politics Inconsistency of financial performance of supply chain. Efficient product and service distribution to upcoming markets can only be provided if an effective marketing infrastructure is developed.(Richey 2001). Globalization process should be viewed as a network embedded with contemporaneous options, constraints and events(Richey 2001). It intends to look into developing a strategic supply chain development and implementation. One of the challenge in a Global supply chain is development of a decision making model which incorporates almost every concerns of entities running across the chain(Mahapatra 2004). It is one of the biggest concerns to produce effective decisions to reduce risk. Considerable efforts has now been expended in developing this model, many conventional methodologies are adopted like, Simulation, Mathematical program, statistics etc., (Mahapatra 2004). 2.3 b Emerging Issues Numerous Global Supply chain models have been proposed consistently by researchers to tackle issues. Diffusion in multiple plant production systems, globalized market has escalated researchers interest towards this field. Fig11 illustrates one of the models that help to design a supply network. This model proposed by authors â€Å"Carlos J. Vidal† and â€Å"Marc Goetschalckx† illustrates an overlook of a decision making model to tackle transfer pricing and transport cost allocation problems. It is seen from fig6 that the suppliers are broadly classified as internal and external suppliers. For External suppliers it is clear that there is no possible decision for transfer pricing because they directly sell to organizations at market prices. Unlike external suppliers an optimal transfer pricing is determined using the model for internal suppliers (Goetschalckx 2001). A detail literature review of transfer pricing issue and its effect on Global supply chain will be discusse d later in this chapter. Table 2: Major international issues considered in selected global supply chain models Source: (Goetschalckx 1997) Market place around Global supply chain is changing continually reflecting to more emerging issues. These issues have to be resolved in a very short span to stay competitive and to make supply chain more financially effective (Gargeya 2005). First issue is dramatic increase of organizations, outsourcing its work to both domestic and international locations. Secondly many industries outsourced with a unidirectional and enterprise level motive, but now strive to coordinate its decision process across different levels of suppliers (Gargeya 2005). Third issue is recent development in the field of supply chain resulting in expanded definition of â€Å"supply chain performance, as mission, strategy and objectives can vary considerably based on value of the product offered to the customer† (Gargeya 2005). Even with extreme significance and necessity for Global Supply chain management, the subject is complex and diffuse. Many technique and methods have emerged from different areas like operations, logistics, sociology, International relationship, marketing, management, economics et,. But still due to its significant growth and complexity it becomes hard to keep abreast with current development in the field of GSCM (John T. Mentzer 2006). Cementing is the fact that many of these methodologies has evolved with little interdependency, considering little attention in relating with existing models (John T. Mentzer 2006). Outsourcing and Global Supply chain management focus to cost reduction, improved quality; thus increasing its overall competitiveness through structure and process that increase managerial commitment and competencies (Richey 2001). On other hand increased outsourcing of manufacturing to foreign locations in recent years has influenced mangers to design their supply chain considering not only in-house facilities but also to incorporate supplier capabilities and infrastructure. Broader criteria are taken into account while selecting the suppliers unlike fundamental ways. Suppliers are chosen based on customers perception of suppliers to meet demand, with suitable attributes such as quality, quantity, delivery, service, price etc.,. In some case more broader criteria as defined by total ownership cost for carrying inventory, training and repair (Meixell 2005). Supplier selection escalates structure of design problems with limitations in number of vendors in a certain geography, minimum order quantity, geographic preference and supplier capacity (Gargeya 2005). Supply network integration through a supply chain also influences Global supply chain design. Business process integration is one of the best options, coordinating decision across multiple tiers of suppliers/vendors. In reality organizations engage in coordination activities like â€Å"Vendor Managed Inventory (VMI), Collaborative Planning, Forecasting, and replenishment (CPFR)† (Gargeya 2005) by sharing sales promotion information. Advanced planning system (APS) integrate production decision making process, these systems are designed with precautions having Supplier capacity and Inventory in mind. These constraints influence Global Supply chain design in large scale (Gargeya 2005). As part of global supply chain design many factors like import duties has to be designed while framing since they contribute nearly 5-10 % of total cost (Pierpaolo Pontrandolfo 2003).Thriving through these issues, a well-coordinated and integrated design of Global Supply chain is hard to replicate thus making is very efficient and helps to achieve a competitive strategy in global scale (Gargeya 2005). 2.3c Need of Global Supply chain Management: Market Drift Global Supply chain models are complex and difficult to provide a solution compared to a domestic supply chain. In a global supply chain flow of cash and information is difficult to maintain unlike single country model. Inclusion of various taxes, Transfer pricing, duties, exchange rates, trade barriers are basic necessity to instil a real time supply system (Goetschalckx 1997). Todays market has advanced with increased globalization of supply sources and demand, drastic improvement of information transparency, innovative business models and venture capital. With such high competitive nature, Simple pursue for higher market share is no longer effective in improving profitability. Focus has drifted towards redefining their competitive profit zone; Companies now tend towards co-relationship to capture life time customer rather than mass buyers through strategic development and Management partnership (John T. Mentzer 2006). Global Market has immensely changed in these following factors Increase value of end users over mass buyers Importance of customization Emerging global consumer segment Time and quality related competition Improvements in communication Value for Information sharing Changing government policies Power shift to End users In broad spectrum of supply chain power has shifted towards End users. Customer satisfaction becomes the ultimate goal. Interfirm relation and collaboration is critical to increase customer satisfaction.(John T. Mentzer 2006). Original equipment manufacturers and supporting suppliers should be quick to react to customer requirements or else have to face prospect of losing market share. Mass Customization Mass customization results in increase in variety without compromising quality, price and efficiency i.e., customers expect better quality level and customization for low or competitive cost. This level of customization can only be achieved with full commitment of every entity of a supply chain like employees, distributors, suppliers etc,(John T. Mentzer 2006). Improved Communication Global competitive market means unit of business analysis of an organization is whole world not just a country/region. Communication revolution has offended late design or delay in delivery. In this context, â€Å"Kotler Philip† said â€Å"As firms globalize, they realize that no matter how large they are, they lackthe total resources and requisites for success.Viewing the complete supply chain forproducing value, they recognize the necessity of partnering with other organizations(John T. Mentzer 2006) â€Å". Time and Quality importance Time and Quality focused market competition can be achieved by basic Lean methodologies, reducing waste in the form of time, defects etc,. Improved quality not just means finished goods but also every area of a company.(John T. Mentzer 2006) Information Technology Influenced Most Powerful and conceptual influence is through immense improvement in the field of Information technology. Invention of modern computers superseded monolithic companies. Fast communication increased link between every member also eliminating multiple layers of people serving as information channel and control group, reducing cost and improved linkage eliminating time delays(John T. Mentzer 2006). 2.3d Benefits of Global Supply chain In this competitive world, market research is a fundamental aspect of any organizations design process. Anticipated results are an aspect of a design process, so it is necessary to understand possible benefits of Global Supply chain. Few benefits described by (Mechanic 2010), are Highest standard of quality. Increased standard expectancy from developing nations. Reduced Inventory and Transportation. Competitive advantage. Make or buy decisions simplified. Wider marker scale to target (New Market opportunity). Opportunity to learn and adapt business models around the globe. Increase in Supply chain flexibility. Surviving Economic recessions with auxiliary markets. 2.4 Supply Network design and collaboration 2.4 a General literature According to (Sheng Su 2008)†A supply chain is an integrated network of suppliers, transformation plants and distribution channels which are organized to acquire raw materials, transform the materials into final products, and deliver those products to customers(Sheng Su 2008)†. Recent developments in technology have forced typical sequential manufacturing industry into designing current ideas for business-business relationship with companies in supply networks (james B. Rice Jr 2002). (james B. Rice Jr 2002) Suggest that, Organizations which are looking for coordination across a strategic supply chain can be achieved by three independent segment coordination such as Information system Logistics Network Financial trade offs Author (Christine Harland 2003) describes the increasing complexity in supply networks. In growing market, issues can arise due to various reasons. Following table illustrates few origins of issue Table 3: Increasing Complexity in Supply network Source (Christine Harland 2003) Design of supply network can be approached as stages, Production, Procurement and distribution. Each stage can be scattered across supply network positioned anywhere in the globe as illustrated in fig11 (D.J. Thomas 1996). Designing and coordinating supply chain for a specific product usually tends to break functional and boundary barriers, resulting as a major issue. Functional boundaries can be deceiving in delivering knowledge thus a clear understanding is hard even for top management (D.J. Thomas 1996). Supply chain management is a new concept but coordinated planning has a profound history since early 1960 (D.J. Thomas 1996). Since then researchers had focused to integrate planning, scheduling and distribution (D.J. Thomas 1996), some of the early models and their functionality are review later in this chapter as illustrated in tables 7-13. Inventory Management barrier Managing Inventory is a vital and significantly increases customer satisfaction and also improves profit. According to (Billington 1992), there are 13 pitfalls in Inventory management. No Supply Chain metrics: Generally it is found that there is no strict performance metrics used to evaluate each entity of the supply chain. Usually individual organizations inside a supply network may have conflicting objectives which tends to reduce overall efficiency. This issue has to be addressed by assessing and orienting supply chain metrics which is governed by customer satisfaction criterion (Billington 1992). Inadequate definition of customer service: Usually customer service does not mean just better delivery time or quality. Many critical details like order cycle time and back order time et., these issues can be omitted by proper understand of customer and standards of expectancy (Billington 1992). Inaccurate Delivery status date: This clerical issue can result in massive impact on total efficiency of the supply chain. It can be resolved by centralized data storage under regular monitor (Billington 1992). Inefficient information systems: These issues mostly resolved with recent developments in Information Technology. Softwares like Enterprise resource planning can help to resolve this issue. Ignoring the impact of uncertainties: In a supply chain there can be different sources for uncertainties as, supplier lead time, raw material quality, process lead time, Transportation and fluctuating market etc., Implementation of Just-In-Time (PULL System) can help to resolve these issues as this system monitors uncertainties closely and react immediately (Billington 1992). Simplistic inventory stocking policies: This issue can be resolved with efficient safety stock policies (Billington 1992). Discrimination against internal customers: This is caused when Work in Progress goods are delivered and handled with your supplier unlike finished products to ultimate customer (Billington 1992). Poor coordination: as mentioned earlier in this research, harmonic network coordination is a fundamental entity of supply chain. Better coordination can be achieved by effective Supplier relationship management Incorrect assessment of Inventory costs: Occurrence of this issue is generally by omitting few inventory maintenance cost while formulating supply chain, usually An effective supply chain design helps in identifying best, Location and distribution centres, Plant Capacity, Market access and planning. Importance of Supplier Relations Management Importance of Supplier Relations Management Chapter 1: Introduction 1.1 Objective â€Å"Supply chain management (SCM) is the combination of art and science that goes into improving the way your company finds the raw components it needs to make a product or service and deliver it to customers.(Worthen., 2008)†. The main objectives of this research are to structure a supply network through multiple tiers. It extends in identifying the importance of Supplier relations management. Todays market as we know is customer driven, with extensive subcontracting, Inventory and supply chain management can make or break a deal. Good supply network emphasizes on seamless integration between Original Equipment Manufacturer (OEM) and its suppliers. It encourages in merging its design of Product, process and services. Regard to todays world, Global Supply chain Management is changing virtually every day (group, June 2006 ) Large and Small companies are keen and very likely to trade internationally and also to take advantage of low cost countrys for their sources. (group, June 2006 ). This study takes a more holistic approach in identifying issues and constraints of global supply chain management. A very rigorous approach for optimally coordinating information, material and financial flow between supplier ti ers is another objective of this study. Study is supported by mapping different models and approaches in order to provide a harmonic coordination within a closed supply network. As mentioned earlier small and large companies are turning their interest towards low cost developing countries for sources, this research intends to study current trends and opportunities among these developing nations for sustainable supply network coordination. Chapter 2 Literature Review 2.1 Summary This paper revolves around various objectives as discussed earlier. The purpose of a literature review is to describe the work that has been reported on a topic. It illustrates an individuals ability to identify vital information and sketch existing knowledge. This literature review is carried out to review current market trends and also to have a thorough knowledge correlating our main objectives. Ideas and thoughts of different authors has been analysed to demonstrate a more eccentric review of the topic. Few case studies has also been analysed to understand practical difficulties and competitive advantage of a better supply network design. Table 1 illustrates various definitions proposed by authors. 2.2 Multi Tier Supply Chain Overview and key elements In general many Manufacturing Organizations are a network production and distribution sites. They transfer raw materials to finished products and supply it to end users (billington 1992). Strategic supply chains are those in which â€Å"members are strategically, operationally, and technologically integrated†(Hult 2004) and are assumed to be a long-term stable relationships with a potential to change in accordance with the variable demands and market conditions(Hult 2004). Inventories play a very important role at both macroeconomic and microeconomic levels (Jaber 2009). According to (Jaber 2009), Current inventory costs accounts to half of total logistical expenses of a supply chain(Lancioni 2000). Improper Inventory management in a supply chain usually tends to increase conflicts between entities of the supply chain i.e., between retailer, buyer, manufacturer and suppliers, which may result to inefficiencies of the supply chain.(Jaber 2009). In a ideal supply chain every firm is considered to be unified, thus in an ideally integrated supply chain, end users or ultimate customers are the pulling force of a value chain unlike classical way of Manufactures pushing the goods out(Tan 2001). Realistically achieving full integration of a value chain is difficult with its complexity, thus strategically important business organizations are emphasized (Tan 2001). Key elements and activities of supply chain are as shown below. Key Elements Of supply chain According to (Christopher 2005), One important aspect of effective SCM is to reduce or completely eliminate Inventory issues between different entities/Organisation in a supply chain. He suggests eliminating this issue by effective information sharing of all stock levels. This concept is called ‘Co- Managed Inventory CMI.(Christopher 2005).(Tan 2001) Suggest that primary focus of a SCM is to achieve efficient end product distribution from manufacturer to customer by replacing inventories with information. Supply chain managements philosophy also suggests that its operations are not concerned only with logistics, but expands through all other operations of an organisation to achieve a greater customer satisfaction and value.(John T. Mentzer 2001).Other basic characteristics of a SCM, according to (John T. Mentzer 2001) are Considering the whole supply chain as a single entity and by this virtue, total inventory flow is managed in a SCM. Orienting Intrafirm and interfirm operations with a strategic approach and thus reinforcing its capabilities by co-operative measures. Unique/Personalized approach should be carried out for every customer to stay competitive and to achieve better customer satisfaction. For years Supply chain was considered as channels for distribution. The main intent of channel distribution was to make each organisation more productive and efficient. It emphasized on making each organisation more profitable without considering its other counter parts of the channel, i.e. like Tier1 suppliers, tier2, distributors or retailers (Lancioni 2000). Over the years with the advent of Supply chain management, focus drifted from intrafunctionaltowards a more interfunctional vision, by which co-ordination between these entities of SCM was emphasised. Interfunctional Channel distribution or termed as the modern day supply chain management considered the opportunity in supply network coordination: â€Å". . . altering the levels of the various activities, often referred to as logistical in nature (such as transportation, inventories, facility location, and order processing) may adversely affect achieving the objectives of these other functional areas†(Lancioni 2000). Thu s customer becomes the driving force of supply chain management. Supply chain analysis (SCA) deals with vertical inter dependencies between the firms; it also requires a systematic approach towards resource allocation and information exchange at every stage of production (Simchi-Levi 2000). Globalization represents cross-border flow of finished goods and increase in global competitors, identifying opportunities and competitive supply chain within its industrial sector(John T. Mentzer 2006). Realistically Supply-chain Managers identify difference between a domestic and a global supply chain even if the conditions are same. It is found that complexitys designing Global supply chain is exponentially high compared to a domestic supply chain, also its ability to stay competitive lies in understanding subtleties of GSCM that exists only during cross border trade offs(John T. Mentzer 2006). Supply chain distinguishes itself from its constituent entities with its integration of operations (Mahapatra 2004). Supply chain management goes beyond co-ordination among firms; it recognises inter dependencies among them and also delivers effective relationship management. Logistics is an integral part of effective supply chain.(Pierpaolo Pontrandolfo 2003) Suggest that Logistics operations within an organization can be related to Forward flow of goods both WIP and Finished goods Information flow feedback Management and Control Network Analysis (NA) is a technique which provides many tools to map relationship between internal organisations. NA also concerns with horizontal dependencies unlike SCA (Sergio G. Lazzarini 2001). As SCA and NA there are many other analyses methodologys suggests the importance of Interdependencies between organizations, According to (John T. Mentzer 2001) , the following activities are necessary to implement a better SCM. â€Å"Integrated Behaviour Sharing risks and rewards mutually Co-ordination Mutual sharing Information Goals and focus to serve customers Process integration Installing Long-term relations with suppliers and customers†(Mentzer 2001). The term supply chain management had an increased influence over the past decade. For instance, Annual Conference of the Council of Logistics Management 1995, 13.5% of the conference sessions posted titles concerning the words â€Å"supply chain.† At the 1997 conference, just two years later, the number of sessions about the terminology drastically increased to 22.4% (John T. Mentzer 2001). This increase has been steady all these years. This increase widely illustrates the global importance and benefits of Supply chain management. There are different types of channel relations in a supply chain as illustrated in Fig4. Supplier Organization/OEM Customer Figure3a: Direct Supply Chain Suppliers Supplier Organization Customers SupplierCustomer Figure 3b: Extended Supply Chain Third party Logistics Supplier Ultimate Supplier Organization Customer Ultimate Supplier Customer Financial Market Provider Research The figure1 identifies different degrees of supply chain complexity they are direct, extended and ultimate supply chain. A direct supply chain consists of a supplier and a customer involved in upstream and downstream flow of (Products, services, finance and information)(Figure: 4a.)(John T. Mentzer 2001) Similarly an extended supply chain includes suppliers, Immediate suppliers and customers and immediate customer, all involved in the upstream and/or downstream flows of products, finances, services and info(Figure: 4b). Thus an ultimate supply chain includes all the organizations involved in all the upstream and downstream flows of products/services/finances, and information from the ultimate supplier to the ultimate customer. (Figure: 4c) illustrates the complex functions of an ultimate supply chains. This may include 3rd Party Financial institutions; this involvement may be a cause to reduce overall risk involved. Similarly Even logistical operations are also supported by (3PL) In figure:4c , a market research firm is also seen as an entity of this complex chain. These may very well support the Manufacturer by providing vital market information about their end users.(John T. Mentzer 2001). Process of Supply chain management Many organisations believe that with process approach it is difficult to reduce/optimize their production flow in SCM (Cooper 2000). Customer relationship management Customer service management Demand management Order fulfilment Manufacturing flow management Procurement Product development and commercialization Returns. Multi Levels Explained It is necessary to understand different network analysis, methodologies to understand and resolve issues in designing a better supply chain management. Fig2 illustrates a basic model of a multi tier supply chain. Each level has its own importance and prominent influence over the chain thus making every level an integral part of the complex system. Fig2 is a sceptic of four level supply chain with centralised decision process. The different levels are as described below(Goyal 2009) First level-This Level of supply network contains multiple buyers/Distributor. Second Level- This level encompasses of Vendors or Manufacturer ie., Original Equipment Manufacturer. Third level- This level contains Tier-1 /Immediate Suppliers of the supply chain. Fourth level- This level contains different tier 2 suppliers. These suppliers support tier1 suppliers or directly to the manufacturer by providing product, service or finance.(Goyal 2009). Levels of issue The major issues at different levels that have to be addressed in a multi dimensional Supply chain are(David Simchi-Levi 2003). Strategic level: Strategic level of decisions are vital which provides and long and sustainable effect on an organization. Major decisions like factory location, storage, Plant capacity and logistic network fall under this level. Tactical level: These decision that change steadily(eg: every quarter) depending on market position, like transportation, production capacity, inventory policy, customer review etc., Operational level: These decisions are mostly day to day like scheduling, lead time, quotes, routing etc.,(David Simchi-Levi 2003). According to (David Simchi-Levi 2003), the above issues can be addresses with few strategies as follows Distribution Network Configuration Inventory Control Supply Contracts Distribution Strategies Supply Chain Integration and Strategic partnering Outsourcing and Procurement Strategies Product Design Contrastingly other author(Simon Croom 2000) looks to analyse supply chain management as different levels as addressed below. Dyadic Level: This level considers just two party relations, like Supplier-Manufacturer or Supplier-Retailer Chain Level: This level composes of relations with different dyadic levels, relations with customer-manufacturer-supplier-distributor-retailer etc., Network Level: This level is concerned with all network operations like upstream and downstream flow.(Simon Croom 2000). Areas of concern for Supply chain Literature Figure 6: Principle component bodies of supply chain literature Source: (Simon Croom 2000) 2.3 Global Supply Chain Management [GSCM] In this decade of global exploitation for raw materials, cheap and skilled labour has impounded interest towards global supply chain. Fig6 illustrates a typical Global Supply chain network. Interfunctional characteristic of a value chain has grown more complex and non feasible. Manufacturers usually set up factories in foreign to take advantages of low cost labour, trade concession, reduced logistic expense for foreign market, subsidies in capital investment it also makes manufactures more reliable to customers due to their close proximity(Gargeya 2005).Greater needs for GSCM is debated in this chapter below. Authors debate of many learning methodologies to understand framework of Global Supply chain management (GSCM). According to (Pierpaolo Pontrandolfo 2003) GSCM issues can be understood by an Artificial intelligence approach called Reinforcement learning (RL). Currently there are many such frameworks, helping different Multi National Companys as a business model. (Barry 2004), describes â€Å"An enterprise may have lowest over-all costs in a stable world environment, but may also have the highest level of risk if any one of the multiple gating factors kink up an elongated global supply chain!† In a global supply chain, supply risk should be identified, asses its possible occurrence and provided with a monetary value for better understanding, Companys should easily modify towards alternate suppliers (Barry 2004). 2.3a Current State Issues However experts believe that Global supply chain are more complex and difficult to maintain unlike domestic SC. Transportation cost tend to increase substantially due to foreign location, also complicates decision making because of increased lead time(Gargeya 2005). The other factors that dont encourage Global supply chain are listed below (Gargeya 2005) Inventory Cost Trade offs Supplier availability and Quality Different Language, Culture, practices Difficulties in Material planning and demand forecast Infrastructural incapability and non sophisticated telecommunication Inadequate skilled labour, Technology and Equipments Uncertain exchange rates Instable economics and politics Inconsistency of financial performance of supply chain. Efficient product and service distribution to upcoming markets can only be provided if an effective marketing infrastructure is developed.(Richey 2001). Globalization process should be viewed as a network embedded with contemporaneous options, constraints and events(Richey 2001). It intends to look into developing a strategic supply chain development and implementation. One of the challenge in a Global supply chain is development of a decision making model which incorporates almost every concerns of entities running across the chain(Mahapatra 2004). It is one of the biggest concerns to produce effective decisions to reduce risk. Considerable efforts has now been expended in developing this model, many conventional methodologies are adopted like, Simulation, Mathematical program, statistics etc., (Mahapatra 2004). 2.3 b Emerging Issues Numerous Global Supply chain models have been proposed consistently by researchers to tackle issues. Diffusion in multiple plant production systems, globalized market has escalated researchers interest towards this field. Fig11 illustrates one of the models that help to design a supply network. This model proposed by authors â€Å"Carlos J. Vidal† and â€Å"Marc Goetschalckx† illustrates an overlook of a decision making model to tackle transfer pricing and transport cost allocation problems. It is seen from fig6 that the suppliers are broadly classified as internal and external suppliers. For External suppliers it is clear that there is no possible decision for transfer pricing because they directly sell to organizations at market prices. Unlike external suppliers an optimal transfer pricing is determined using the model for internal suppliers (Goetschalckx 2001). A detail literature review of transfer pricing issue and its effect on Global supply chain will be discusse d later in this chapter. Table 2: Major international issues considered in selected global supply chain models Source: (Goetschalckx 1997) Market place around Global supply chain is changing continually reflecting to more emerging issues. These issues have to be resolved in a very short span to stay competitive and to make supply chain more financially effective (Gargeya 2005). First issue is dramatic increase of organizations, outsourcing its work to both domestic and international locations. Secondly many industries outsourced with a unidirectional and enterprise level motive, but now strive to coordinate its decision process across different levels of suppliers (Gargeya 2005). Third issue is recent development in the field of supply chain resulting in expanded definition of â€Å"supply chain performance, as mission, strategy and objectives can vary considerably based on value of the product offered to the customer† (Gargeya 2005). Even with extreme significance and necessity for Global Supply chain management, the subject is complex and diffuse. Many technique and methods have emerged from different areas like operations, logistics, sociology, International relationship, marketing, management, economics et,. But still due to its significant growth and complexity it becomes hard to keep abreast with current development in the field of GSCM (John T. Mentzer 2006). Cementing is the fact that many of these methodologies has evolved with little interdependency, considering little attention in relating with existing models (John T. Mentzer 2006). Outsourcing and Global Supply chain management focus to cost reduction, improved quality; thus increasing its overall competitiveness through structure and process that increase managerial commitment and competencies (Richey 2001). On other hand increased outsourcing of manufacturing to foreign locations in recent years has influenced mangers to design their supply chain considering not only in-house facilities but also to incorporate supplier capabilities and infrastructure. Broader criteria are taken into account while selecting the suppliers unlike fundamental ways. Suppliers are chosen based on customers perception of suppliers to meet demand, with suitable attributes such as quality, quantity, delivery, service, price etc.,. In some case more broader criteria as defined by total ownership cost for carrying inventory, training and repair (Meixell 2005). Supplier selection escalates structure of design problems with limitations in number of vendors in a certain geography, minimum order quantity, geographic preference and supplier capacity (Gargeya 2005). Supply network integration through a supply chain also influences Global supply chain design. Business process integration is one of the best options, coordinating decision across multiple tiers of suppliers/vendors. In reality organizations engage in coordination activities like â€Å"Vendor Managed Inventory (VMI), Collaborative Planning, Forecasting, and replenishment (CPFR)† (Gargeya 2005) by sharing sales promotion information. Advanced planning system (APS) integrate production decision making process, these systems are designed with precautions having Supplier capacity and Inventory in mind. These constraints influence Global Supply chain design in large scale (Gargeya 2005). As part of global supply chain design many factors like import duties has to be designed while framing since they contribute nearly 5-10 % of total cost (Pierpaolo Pontrandolfo 2003).Thriving through these issues, a well-coordinated and integrated design of Global Supply chain is hard to replicate thus making is very efficient and helps to achieve a competitive strategy in global scale (Gargeya 2005). 2.3c Need of Global Supply chain Management: Market Drift Global Supply chain models are complex and difficult to provide a solution compared to a domestic supply chain. In a global supply chain flow of cash and information is difficult to maintain unlike single country model. Inclusion of various taxes, Transfer pricing, duties, exchange rates, trade barriers are basic necessity to instil a real time supply system (Goetschalckx 1997). Todays market has advanced with increased globalization of supply sources and demand, drastic improvement of information transparency, innovative business models and venture capital. With such high competitive nature, Simple pursue for higher market share is no longer effective in improving profitability. Focus has drifted towards redefining their competitive profit zone; Companies now tend towards co-relationship to capture life time customer rather than mass buyers through strategic development and Management partnership (John T. Mentzer 2006). Global Market has immensely changed in these following factors Increase value of end users over mass buyers Importance of customization Emerging global consumer segment Time and quality related competition Improvements in communication Value for Information sharing Changing government policies Power shift to End users In broad spectrum of supply chain power has shifted towards End users. Customer satisfaction becomes the ultimate goal. Interfirm relation and collaboration is critical to increase customer satisfaction.(John T. Mentzer 2006). Original equipment manufacturers and supporting suppliers should be quick to react to customer requirements or else have to face prospect of losing market share. Mass Customization Mass customization results in increase in variety without compromising quality, price and efficiency i.e., customers expect better quality level and customization for low or competitive cost. This level of customization can only be achieved with full commitment of every entity of a supply chain like employees, distributors, suppliers etc,(John T. Mentzer 2006). Improved Communication Global competitive market means unit of business analysis of an organization is whole world not just a country/region. Communication revolution has offended late design or delay in delivery. In this context, â€Å"Kotler Philip† said â€Å"As firms globalize, they realize that no matter how large they are, they lackthe total resources and requisites for success.Viewing the complete supply chain forproducing value, they recognize the necessity of partnering with other organizations(John T. Mentzer 2006) â€Å". Time and Quality importance Time and Quality focused market competition can be achieved by basic Lean methodologies, reducing waste in the form of time, defects etc,. Improved quality not just means finished goods but also every area of a company.(John T. Mentzer 2006) Information Technology Influenced Most Powerful and conceptual influence is through immense improvement in the field of Information technology. Invention of modern computers superseded monolithic companies. Fast communication increased link between every member also eliminating multiple layers of people serving as information channel and control group, reducing cost and improved linkage eliminating time delays(John T. Mentzer 2006). 2.3d Benefits of Global Supply chain In this competitive world, market research is a fundamental aspect of any organizations design process. Anticipated results are an aspect of a design process, so it is necessary to understand possible benefits of Global Supply chain. Few benefits described by (Mechanic 2010), are Highest standard of quality. Increased standard expectancy from developing nations. Reduced Inventory and Transportation. Competitive advantage. Make or buy decisions simplified. Wider marker scale to target (New Market opportunity). Opportunity to learn and adapt business models around the globe. Increase in Supply chain flexibility. Surviving Economic recessions with auxiliary markets. 2.4 Supply Network design and collaboration 2.4 a General literature According to (Sheng Su 2008)†A supply chain is an integrated network of suppliers, transformation plants and distribution channels which are organized to acquire raw materials, transform the materials into final products, and deliver those products to customers(Sheng Su 2008)†. Recent developments in technology have forced typical sequential manufacturing industry into designing current ideas for business-business relationship with companies in supply networks (james B. Rice Jr 2002). (james B. Rice Jr 2002) Suggest that, Organizations which are looking for coordination across a strategic supply chain can be achieved by three independent segment coordination such as Information system Logistics Network Financial trade offs Author (Christine Harland 2003) describes the increasing complexity in supply networks. In growing market, issues can arise due to various reasons. Following table illustrates few origins of issue Table 3: Increasing Complexity in Supply network Source (Christine Harland 2003) Design of supply network can be approached as stages, Production, Procurement and distribution. Each stage can be scattered across supply network positioned anywhere in the globe as illustrated in fig11 (D.J. Thomas 1996). Designing and coordinating supply chain for a specific product usually tends to break functional and boundary barriers, resulting as a major issue. Functional boundaries can be deceiving in delivering knowledge thus a clear understanding is hard even for top management (D.J. Thomas 1996). Supply chain management is a new concept but coordinated planning has a profound history since early 1960 (D.J. Thomas 1996). Since then researchers had focused to integrate planning, scheduling and distribution (D.J. Thomas 1996), some of the early models and their functionality are review later in this chapter as illustrated in tables 7-13. Inventory Management barrier Managing Inventory is a vital and significantly increases customer satisfaction and also improves profit. According to (Billington 1992), there are 13 pitfalls in Inventory management. No Supply Chain metrics: Generally it is found that there is no strict performance metrics used to evaluate each entity of the supply chain. Usually individual organizations inside a supply network may have conflicting objectives which tends to reduce overall efficiency. This issue has to be addressed by assessing and orienting supply chain metrics which is governed by customer satisfaction criterion (Billington 1992). Inadequate definition of customer service: Usually customer service does not mean just better delivery time or quality. Many critical details like order cycle time and back order time et., these issues can be omitted by proper understand of customer and standards of expectancy (Billington 1992). Inaccurate Delivery status date: This clerical issue can result in massive impact on total efficiency of the supply chain. It can be resolved by centralized data storage under regular monitor (Billington 1992). Inefficient information systems: These issues mostly resolved with recent developments in Information Technology. Softwares like Enterprise resource planning can help to resolve this issue. Ignoring the impact of uncertainties: In a supply chain there can be different sources for uncertainties as, supplier lead time, raw material quality, process lead time, Transportation and fluctuating market etc., Implementation of Just-In-Time (PULL System) can help to resolve these issues as this system monitors uncertainties closely and react immediately (Billington 1992). Simplistic inventory stocking policies: This issue can be resolved with efficient safety stock policies (Billington 1992). Discrimination against internal customers: This is caused when Work in Progress goods are delivered and handled with your supplier unlike finished products to ultimate customer (Billington 1992). Poor coordination: as mentioned earlier in this research, harmonic network coordination is a fundamental entity of supply chain. Better coordination can be achieved by effective Supplier relationship management Incorrect assessment of Inventory costs: Occurrence of this issue is generally by omitting few inventory maintenance cost while formulating supply chain, usually An effective supply chain design helps in identifying best, Location and distribution centres, Plant Capacity, Market access and planning.

Proving Yourself to the World and to Others. :: Essays Papers

Proving Yourself to the World and to Others. In the world today, people are faced with having to prove themselves to others. They are stuck knowing that by their flaws and mistakes, the world is just ready to put them on a shelf just like everyone else. In the book,â€Å"The Pact,† three best friends, Sampson Davis, George Jenkins and Rameck Hunt, strive to prove to the world and to their families that they can break away from the statistics, of turning to dugs and never making anything out of their lives, that could be set out to haunt them. That is just what my good friend; Carrie would have to face during her high school year. I met Carrie my junior year of high school. We did not become friends instantly but gradually over time we started to talk. I was friends with her boyfriend at the time and always was there to talk to him and help him during lunch with any situation that would come up. He always came to talk to me about what was happening in his relationship with Carrie. I tried to give him as much advice as possible without knowing who Carrie was. There was one instant where Carrie was supposable pregnant but would later find out it was a false alarm. They were on and off half of the year, but something would change everything. Carrie became pregnant half way through her sophomore year. At that time, I started to talk to Carrie. We were starting to become best friends and I realized that with all the problems she was going through with her boyfriend and her pregnancy, all I could do was help her with any problem she may face like falling behind in school or with her boyfriend. It was hard on her because here she was still in high school and she was about to become a mother. Her boyfriend was never there for her during this important time and I let him know about it during lunch. All I ever heard from them was arguments and breakups. They never could decide what they wanted. After countless arguments, Carrie got annoyed and ended the relationship. She would not consider adoption and was against abortion. To her, it would be hard to give up a child and never see the child’s first walk, or hear the first words. So to her the only good choice was to have the baby and care for it.

Reflective Essay on Module

With the help of the Gibbs model for reflection I have written the below reflective essay. I have chosen this model for reflection cause: Firstly it is simple to understand and secondly it follows a very systematic and easy approach. As I began with the module I was quite happy that it has been included in the course, as it would help me overcome academic writing skills difficulties. Although, initially I did feel that the module would only aim at giving academic support, but eventually I realized that like its name suggests it also helped develop my personalities as well.In this module, we were given to make a poster and a formal report. In this way I felt the module evaluates an individual in different ways and on different aspects. By making a poster the creativity of an individual can be evaluated. Poster presentations are becoming common at workplaces and the first assignment helped us have an experience on how to make on. The second assignment was a critical report based on the same article we used for the poster. This assignment helped us improve our critical skills and present it in a formal report structure.Since we had to critique only one report it was quite difficult as there were nothing to compare it to. We only had theories as a base to help us write the critique. Whilst doing research for the report, I came across a learning styles model by Honey and Mumford. The model is given as below. Peter Honey and Alan Mumford (1992) connected each stage in this learning cycle with a preferred learning style: Stage 1 Having an experience – Activist Stage 2 Reflecting on the experience -Reflector Stage 3? Concluding from the experience -Theorist Stage 4?Acting differently as a result/planning the next steps- Pragmatist As I read about what each part meant I could completely relate myself to the Activist part of the model. I am generally very enthusiastic about things and like to be in power whenever in a group discussion. It gives me a sense of satis faction. Also when we were given discussions in the Tutorial to undertake I would tend to lead and chair the group. Something that is not is that just as the model suggests even I tend to act and then consider the implications afterwards. This is one attitude of mine that I am trying to hange and adapt to a reflector model where I consider the implications of my actions before acting on them. As it is famously said â€Å"Think twice before you act†. I must inculcate this proverb in my acts of life. Many a times when I introspect on my learning altitudes I also feel that a part of me is the Pragmatist learner. As I mentioned earlier I am always enthusiastic and keen to learn and experience new things. I always understand concepts faster which I can relate to practical experiences in the past and apply to my job in future. Just as the theory states even I tend to generally get impatient with lengthy discussions and conversations.From a pragmatist point I want to try to improve my patience level especially in lengthy discussions as often in workplaces lengthy discussions are carried out. Personally when I looked at the theorist attitude I felt I could not fit there but should try to adopt some of its attributes such as trying to be a perfectionist. Applying this concept to my PRS module when I was given the poster to do, I did not think much. I just looked up a few posters and got down to making my poster. It was later that I realized I should have first had discussions with my class mates on how they are approaching the assignment.By then I had already acted like an activist but it was time to become a reflector and overcome my hasty behavior. Hence, before I started critiquing the article with my peers and only then got down to do some relevant reading. Coming back to the first assignment. I quite enjoyed making the poster much more than the report as the poster involved using creativity. While I was writing the report I felt quite dull and boring as a f ormat had very formal approach. This is when I realized that I need to increase my interest for formal writing.Reflecting the Gibbs way I have reached the Analysis stage. To this I concluded that maybe more reading around the topic and reading a few sample reports would have probably helped to do it better along with more interest. For that I have thought I must plan a minimum amount of reading target to be set. And undertake detailed discussions with my class mates on a regular basis apart from the one’s that happen in the tutorials. On a general note, during the module when the topic of report writing was being covered, I had doubts but felt they were too silly to ask the module tutor.Due to this I had numerous difficulties while starting the critical report. I have decided not to fear from people judging me and go ahead and ask the questions to clear my doubts. In fact I did start acting on it and did start questioning tutors and friends. I realized I should have done this much before. The Personal and Research skills module has taught me about researching which gave me a sense of self confidence on something I wasn’t sure I could do. Or rather knew how to do. Before I joined the master’s course I was quite friendly with MS Office.But some of the tutorials and lectures on IT skills helped me enhance my technical skills prezi, a very interesting application was unknown to me. After the lecture I downloaded it and started to see its features. I have always been interested in enhancing my technical skills in any form. Because in today’s tech savvy corporate environment one is considered un-updated if they do not poses skills. Referencing was a very new concept to me. Initially, I just could not get my head around it. One of the PRS lecture taught us how to use ref works. Now, I just do not need to bother with journal articles referencing.Refworks had made it so easy. I have particularly mentioned about Prezi and refworks as these we re two highlighting factors that I found in the module, very helpful in making my coursework manageable. As I attended the lectures I felt that the PRS model has been formatted in a way to help students do their coursework and acquire the intellectual and technical skills required to complete the MSC in Human Resource Management at Robert Gordon University. Before I came I had heard that RGU has a high performance demand. I felt this module was designed, to make sure that students meet up to it.The good part of this modules experience is it does actually help you acquire the Personal and Research skills that it aims to. But in my opinion the module was a little insufficient in providing writing skills, especially for international students who are doing this form of studies for the first time. But as I thought of it I felt it is the master level and everything cannot be fed on a spoon to the students. To this thought I felt, I need to put in some more effort from my side maybe throu gh taking help of the study skills help available.I have come to a belief now that at masters teachers are more of a catalyst then an ingredient to our masters degree. On a concluding note, the Personal Research skills module in my opinion is essential for every business related course. Maybe if I had had something like this while doing my degree it would have been more helpful at a master’s level. But whether at a master or at a degree it is an essential model helping an individual to develop ass sorts of skills needed in today’s competitive business environment. References: HONEY, P. and MUMFORD, A. , 1992. The manual of learning styles

Finance and Term Sheet Essay

1) What are the most important terms for Laracey? Founders’ termination term is very important for Laracey because it increases the possibility that the unvested equity of the founders could be accelerated when the incoming CEO terminates them. It directly protects the benefits of the founders. 2) What are the most important issues for Guerster? Mergers, redemption, reorganization of the company, or transfers of control of edocs are the most important issues for Guerster. These issues will directly influence his proportionate ownership of edocs. 3) What is ‘liquidation preference/participation?’ Both in general, and specifically in the proposed term sheet. Compare the term sheet to M-Y: what type of security (CP, RP, PCP) is this? A liquidation preference tells an investor where she stands in the capital structure hierarchy. When there have been multiple rounds of investment, it is common for the latest-round investors to get their money back first. So the Series A preferred is getting the first dollar from any liquidation first. In this case, the investor owns the Series A preferred stocks, so in case of merger, reorganization or transfer of control of edocs, Guerster first get paid. The security is Participating Convertible Preferred (PCP) because in the liquidation term, it is mentioned that Participating goes away on valuation that corresponds to 50 million. In addition, there is conversion term in the term sheet. 4) Why is CRV so concerned about board representation? Because CRV would like to ensure that the board members could represent its right, and the company develops in the direction it expects and doesn’t spend the money it invests in other business concepts. 1) Critique Steve Papa’s fundraising strategy for the â€Å"C† financing round? What steps did he take that were sensible? What mistakes did he make? When Steve Papa realized he had to raise money, the Enterprise IT spending was slowdown. The behavior of both venture capitalists and technology market was hard to forecast. So Papa chose a wrong time for the â€Å"C† financing round. The uncertainty of the spending on technology made the investors not willing to pay as much as Papa asked. So Papa had to revaluate and lower the price for several times. However, it is sensible that Papa realized that he should go back to the market and look for the investment. 2) What are the key differences in the term sheets offered by the insider group and Ampersand? What explains the key differences? The Venrock/BVP offer an inside round at 98.5 ¢ per share. The pre-money was roughly $25 million. They would share the $10 million, with Venrock taking more to increase its ownership, and leave the round open for another $5 million, getting the deal done at $15 million with an option to close as high as $18 million. Ampersand offered at $1.25 per share, and full ratchet protection for the Series B investors. The effective pre-money, with ratchets, was $32.9 million. The key difference is the offering price. Papa told Ampersand that they could only make room for them if, Ampersand gave Endeca a term sheet that offered to lead an alternate deal at a significantly higher price by the day of the board meeting. Otherwise, it would be unfair to the insiders who had been extremely supportive throughout the entire process. And the insiders had really supported when Endeca needed it. If the insiders have worked very well and shares a common vision, it also is likely to involve a very important potential customer. So Ampersand had to offer a higher price to become attractive. 3) Analyze the impact of renegotiating the anti-dilution provisions. Was Bessemer’s request to adjust these terms reasonable? Renegotiating the anti-dilution provisions will make the investors more beneficial. Bessemer’s request to adjust these terms was reasonable. Bessemer wanted to change the anti-dilution on the B round to full ratchet. Full-ratchet anti-dilution protection allows an investor to remain his ownership in the company as same as the initial investment. Since the price of BVP’s participation was going to be important to the stock price, Bessemer’s request to adjust these terms was reasonable.

Research Assignment Paper 2

Research Assignment Paper 2 Research Assignment Paper 2 Research Assignment 2: Migration, Immigration, and Emigration, and Their Effect on Religion, Women, and Minorities in the Developing World Sherrell E. Smith HUMN305-EW44-F14 Dr. Pamela Ratvasky September 05, 2014 Research Assignment 2: Migration, Immigration, and Emigration, and Their Effect on Religion, Women, and Minorities in the Developing World It was in the 1980’s that Singapore became more of an industrialized country; this was also when this country non-resident population began to increase a trend, which is ongoing to date. Malaysia is a trading colony established in 1819, holding a growing rate until World War II. A large number of laborers from India, China, and the Malay Archipelago immigrated to Singapore. (Yeoh & Lin, 2013) Immigration slowed significantly during the 1940’s, so after new ordinances allotted for limited immigration, you could only migrate if you could be of benefit to the countries socioeconomic development in Malaysia. (Yeoh & Lin, 2013) The population of Singapore divides into two categories of people according to the permanency of their stay: Citizens (including naturalized citizens) and permanent residents are referred to as â€Å"residents,â⠂¬  while immigrants who are in Singapore temporarily (such as students and certain workers) are considered â€Å"nonresidents.† (Yeoh & Lin, 2013) Permanent residents (PRs), typically immigrants have been granted the right to reside permanently in Singapore. Where they are entitled to most of the rights and duties of citizens, including eligibility for government-sponsored housing and mandatory military service for young adult males, though not the right to vote in general elections. (Yeoh & Lin, 2013) The nonresident population increased at an unprecedented pace in the first decade of the 21st century, according to the 2010 Singapore census. During this period, it accounted for 25.7 percent of the total population, up from 18.7 percent in the previous decade. As of 2010, the Research Assignment 2: Migration, Immigration, and Emigration, and Their Effect on Religion, Women, and Minorities in the Developing World nonresident population stood at 1,305,011 out of a total population of 5,076,732. (Yeoh & Lin, 2013) The first part of this year, Malaysian authorities took away hundreds of Malaysian language bibles, from a Christian group containing the word Allah. The Church appealed against the ban, arguing that â€Å"Allah† had been used to refer to the Christian God for centuries in Malay-language Bibles and other non-Muslim literature. The court ruled in Church’s favor in 2009, but that judgment was reversed by Malaysia’s Court of Appeal. ("Malaysia must end ban on Christians saying ‘Allah’ | Amnesty International," 2014). Malaysia’s ban on Christians exhausting the word â€Å"Allah† in reference to Divinity is a misuse of Malaysians having free speech, freedom in expression, and this will be fought, and won. Not long ago I wrote in reference of the Bill of Rights, about our freedom of expression, in regards to what culture do you wear, we have the choice, and it appears that no matter where you go in the world your choice no matter what it is has the perspicuity to become heard. My consensus is that The United States has been the trailblazers in the plight to freedom choices. Muslims make up almost two-thirds of Malaysia’s population of around 30 million, but there are also more than two million Christians in the country plus substantial numbers belonging to other faiths. ("Malaysia must end ban on Christians saying ‘Allah’ | Amnesty International," 2014). This plight is instigating threat and violence in Malaysia, for a cause the Muslims are willing to fight, no matter the consequence. Research Assignment 2: Migration, Immigration, and Emigration, and Their Effect on Religion, Women, and Minorities in the Developing World Malaysia comprises West Malaysia (Peninsular Malaysia) and the states of Sarawak and Sabah on the island of