Competency Based Recruitment and Selection

Title: – Competency Based Recruitment and Selection Theme: – Recent advances in commerce and management Introduction: Competency for any job can be defined as a set of human attributes that enables an employee to meet the expectations of his internal and external customers and stake holders. We have generally observed that only hard work, knowledge, sincerity towards work, and intelligence does not alone makes a person star performer in his/her profession. There are many other factors that actually help an individual practically in achieving success in performing job. For example we have observed that during our school or college days a star student who scores maximum marks in exam may or may not be a good leader. Similarly to this a good batsman may or may not be a good bowler in the game of cricket. The only reason behind this to be a leader requires different set of competencies and to be a good bowler requires a different set of competencies than for a good batsman. That’s why human qualities and attributes which makes a person suitable for his/her job defines competency for that particular job. A competent manager is always aware about different competencies that a person requires to perform the job effectively and efficiently. And on the basis of their knowledge about this they select and train their subordinates for that job. There are many factors such are Social culture, work environment, nature of business, Organizational structure, responsibilities, nature of process and assigned activities, attitude and motives of management affects competency require for particular job. Competency based recruitment and selection focuses on identifying those candidates that can evidence those behaviourally defined characteristics which underpin desired performance in the role you are seeking. Competency based Human Resource Management: A general objective behind hiring a candidate to perform a particular job is to get that job done effectively and efficiently. In short all organizations strive to achieve excellence in whatever business they are. To achieve this goal it is very essential that the entire jobs are performed efficiently and effectively by all the employees. To achieve excellence in performing any job by an employee it is important that an employee should be competent to perform that job. Competency based Human Resource Management helps any organization in achieving in objective. Competency based human resource management is promising as best approach in developing and preserving competent human resources. Competency based approaches to human resource management have been developed since psychologist David McClelland’s research on competency concept. He is credited with launching the competency movement through the publication of his paper titled â€Å"Testing for competencies rather than intelligence†, in which he suggested that academic aptitude and knowledge content tests alone cannot predict a high level of performance, but personal qualities, motives, experience and behavioural characteristics can distinguish most successful from less successful individuals Meaning of Competencies: The Treasury Board of Canada has defined â€Å"competencies† as the knowledge, skills, abilities and behaviours that an employee applies in performing his/her work and that are the key employee-related levers for achieving results that are relevant to the organization/s business strategies. Competency may be defined as: â€Å"The behaviourally defined characteristics which strengthen effective and superior performance†. It’s all about how the person should behave in order to achieve the objectives. According to Schroder competencies are personal effective skills which vary from more basic specialized functional skills to the generic, person based higher level competencies. Competencies allow focus process-â€Å"How things are done? † not simply on outcomes. Classification of competencies: †¢ Core Competencies The Core competencies include those key competencies that all employees in the organization must possess to achieve its mandate and vision. These competencies describe in behavioural terms the key values of the organization and represent those competencies that are core to the organization’s principal mandate. Career Stream Competencies The Career Stream competencies are those behavioural competencies that are common to the all jobs in the stream, and combined with the organization-wide (core) competencies, make up the suite of behavioural competencies necessary for success in the Stream. †¢ Technical / Professional Competencies The technical/profes sional competencies tend to be specific to occupational areas, roles and / or jobs within the Career Stream, and include the specific skills and knowledge (know-how) to perform effectively within the jobs of the Stream (e. . ability to use particular software; knowledge in particular professional areas such as finance, biochemistry; etc. ). These competencies could be generic to the Career Stream as whole, or be specific to roles, levels or jobs within the group. These are the competencies some one must demonstrate to be effective in his job/role, task or duty. Thus these competencies are job or role specific and vary from job to job. A competency model can be used to develop specific job related competencies and come out with a competency dictionary. These competencies are organization specific as roles and responsibilities may vary from organization to organization even though the job title may be the same. Generally HR department of organizations is focused on developing professional competencies and evaluating the same during recruitment and selection process. This classification of different types competencies in not all inclusive it’s an open field of research. In addition to this, competencies can be classified as Personal competencies also. Personal competency includes the various behavioral competencies apart from the knowledge and skill level of an individual. It includes personal attributes like level of motivation, adaptability, developing oneself etc. It also includes interpersonal skills like relationship building, communication ability, openness towards change, cultural awareness etc. In addition to this we can define people management competencies like Leadership, Directing, team building capacity, capacity to work with a team, counseling people, providing motivation, knowledge transformation. A Competency model: A â€Å"competency profile† or â€Å"competency model† is defined as a set of competencies and includes associated behaviours that link directly to the work to be performance, and the levels of proficiency for each behaviour. Competency profiles can cover a group of positions / jobs within an organization. I have developed following process to develop a competency model that can be used for the purpose of delivering competency based recruitment and selection in a desired way. A Competency model is the basic tool or competency based recruitment and selection. A Competency model tries to explain what and all competencies are required to perform different jobs in an organization. A competency model also tries to prioritize the competencies for different jobs. It describes these competencies in the form of indicators, which can be quantified. Each competency can be quantified on a scale on the basis of its relative importance with respect to each job. This serves as a reference for all competency management activities in the organization. Competency model is organization specific as each organization may have its own way of defining and quantifying competencies and competencies may be unique for each organization. Procedure to develop standard competencies: 1. First step is to identify the competencies to perform different jobs. Main source to identify these competencies are job description and job specification. On the basis of that a specific competencies can be identified because these throws light on duties, responsibilities, tasks involved in the job. This will work out as basic list of competencies required within an organization. . Now the next step is to find out critical competencies for all jobs, prioritizing them and to give more significance. These core competencies can be find out through discussion with immediate supervisors for the job position. They are more aware of the different competencies required for performing job efficiently. It also includes brainstorming sessions with managers. 3. After finis hing first two steps, the next is to develop the overall list of kinds of competencies required to perform a job. This includes both primary and secondary set of competencies. This can be further categorized job wise competencies also. With this step now we have a whole dictionary of competencies required. 4. Once the dictionary of competency is ready, now the next step is to prioritize and rate or provide weightage to different competency on the basis of its importance for the particular job. This will help us in quantifying competencies. 5. A model for developing standard competencies is now prepared. This can be used as a tool in competency based recruitment and selection by developing different tests to measure such competencies. Competencies are not static for any job. It is a very dynamic in nature. As the time changes and environment becomes more complicated, competencies required to perform a job also changes. Competency based recruitment and selection: Recruitment can be defined as â€Å"The process of surveying all sources of personnel, inside and outside the organization, to locate and attract the best possible candidates for new or vacated positions†. One of the most important problems in any organization is developing an effective recruitment and selection process which can choose right candidate for a right job. Many organizations have already experienced the cost of selecting a candidate who is not competent for performing job although he is qualified and knowledgeable person. Competency based approach for recruitment and selection calls for more meaningful competency based job descriptions, more appropriate job advertisements, better screening process, Specific competency based written tests like psychometric tests, Specific behaviorally based interviews popularly known as behavioral event interviews, tailored reference checks based on desired competencies of specific role. With the help of competency based recruitment and selection process it is possible to improve efficiency of the job getting done in the right way, which leads to achievement of desired results. Following diagram explains the process of recruitment and selection based on competency. [pic] Identifying Recruitment Strategy Team: Form a workgroup whose primary objective will be to develop a gap-closing recruitment plan for the company. The team should include: †¢ Key Human Resources personnel. †¢ Staff who have knowledge and responsibility for day-to-day operations. Other work units as appropriate given your agency’s size and organizational structure. Bringing together a Recruitment Strategy Team from different parts of the company offers a number of advantages: †¢ Team members may have a variety of networking contacts. †¢ Team members may bring new perspectives that result in creative ideas that surface through brainstorming. †¢ Teams members may become m ore invested in the recruitment process and support/encourage involvement of their respective organizational units. Preparation of competency dictionary: Dictionary for competency can be developed with the help of competency model discussed earlier. Defining competency based job profiles: Jobs can be better described in terms of the competencies needed for performing the various activities demanded by the job. The competency based approach defines jobs in terms competencies and this more flexible as rigid descriptions used in traditional job descriptions resulted in employees performing strictly defined tasks. Recruitment and selection methods will have to be based on competency based job profiles. Role analysis can be a better means of developing competency based job profiles. Role descriptions are more effective in identifying job related competencies and thus developing competency profiles. The competency based qualification standards can be based on whole person competency based approach, and characterized by more assessment options and easy to quantify and hence evaluate. . Recruitment Advertisement: A good advertisement is one which can convey the candidates the exact needs of the organization in terms of the basic job related competencies which are necessary for performing the job competently. The exact competencies for each job are available in the competency dictionary and this can be used for advertising purpose to tell possible candidates what knowledge, skills, and attributes they must possess to be able to apply for the job. Competency Tests: Psychometric tests are psychological tests which can provide useful information about a wide range of competencies of an individual like abilities, aptitudes, values and skills, and can function as a scientific aid in selection. These tests are based on person-job fit concept. Psychometric tests are used for several applications like selection, promotion, transfer, placement, and potential appraisal. Different types of psychometric tests can be used are: Personality tests, Occupational interest, Ability test, Value system test, etc. Competency Interviews: A Competency Based Interview is a structured series of questions aimed at eliciting evidence of a candidate's behavioural fit against specific job-related competencies. In competency based interviews, behavioral focused interviews are used. In behavioral focused interview, the underlying philosophy is that the past behavior is the best predictor of future performance. These types of interviews are generally characterized by questions that relate to specific behaviours which have been found to be linked to successful/superior performance on the job. Candidates are not asked to describe how they would respond in a particular situation or event – that is, they are not asked for hypothetical thinking and responses. But they are asked to describe what they have done, what behaviours they have used, in a certain situation or event which has occurred in the past. Interviewers halting the candidate's response to a question once they have heard sufficient evidence of the candidate's competency. A Competency Based interview process will allow for evidence based information which can then be verified with a candidate's referees. Competency Reference checks: Competency based reference checks the competencies that a candidate has actually exhibited in the past. The information can be obtained from the previous employers or the educational institutions from where the candidates have passed out. Reference checks can be designed in the form of a questionnaire which can be used to obtain information about the candidate’s previous performance levels or capacity to exhibit competencies when needed. Selection of the candidate & Training and Development Plans: On the basis of the reference checks and other competency testing we can now select the right person for the right job. Once the candidate is selected further plans for training can be prepared on the basis of the competencies required for meeting future changes in doing the job. Conclusion: From our discussion it is clear that competency based recruitment and selection can be more effective in selecting right candidate for the right job to enhance organizational efficiency. Thus organization’s need to develop a competency model which can be used as standard yard stick for implementing competency based recruitment and selection. This can not only reduce the cost of hiring the people but also enhance productivity significantly by building human resources as per the exact needs of the organization in complex business environment. Author:Nishant C. Mehta Lecturer, Shri H D Gardi MBA College, Jamnagar road, Nyara, Rajkot, Gujarat. Phone: +919227227501 Email: [email  protected] com ———————– Identify the Recruitment Strategy Team Preparation of competency dictionary Defining competency based job profiles Recruitment Advertisement Selection of the candidate Competency Reference checks Competency Interviews Competency Tests Employee Training and Development Plans

The Day Then It End

The year that women decided to stand up for their right’s was the year that the case Roe vs. Wade came about. The author of the article that I chose was a writer for a newspaper, and is reliable for this aspect. The author could have chosen to write this article because he or she felt strongly about the women’s rights that were at jeopardy at the time. The article takes place in a town in Texas where a woman was denied the choice of having an abortion. The article then continues to give you facts about the court case, the different opinions of the jury, and the final ruling.The article that I chose was over the case and covered many aspects about the rights of women and their right to choose. The biggest part of this article is the author’s choice to use pathos as an explanation as to why the case happened. This is evident throughout the entire article, as it is written over a very touchy subject. Some words that we see repeated throughout the article are â€Å" privacy† and â€Å"choice†. These relate to pathos because they make you see just what was at jeopardy for not only Roe, but women all across the United States.When the word privacy is continually used, it evokes the emotion that women were being violated in the means of privacy. This is also used to evoke an emotion that in no way is abortion a right to privacy, which is seen in the portion of the article titled â€Å"Dissenting Opinion†. The word choice is seen multiple times throughout the article and can evoke two different kinds of emotions as well. On one hand, the word choice is used to really hit home to you in the way that a person’s right to choose what they do with their body was at stake, and on the other hand, you feel the emotion that the fetus’ right to choose to live was at stake.These are both very sensitive subjects and can evoke emotion no matter the opinion on the issue. Evoking emotion through stating both emotional views and op inions has the largest effect on people throughout this article. The next appeal that this article has is that of ethos. The entire article from start to finish is filled with ethos appeals, since it is a newspaper article about a court ruling. Throughout the article, we can see the ethos appeals within the different court and medical terms.Some of these words and phrases that are repeated throughout the article are â€Å"the court has ruled (and small variations)† and â€Å"Amendment†. These words increase the trustworthiness of the author of the article by making her seem like she was involved with the law and understands it to a point. Even though we can tell that the author is just a writer for a newspaper, but we can tell by the use of these words that she is understanding of the court terms in general. These terms also come from actual quotes and speeches from within the Roe vs.Wade case, which is apparent in the sections of the article titled â€Å"Majority Opi nion† and â€Å"Dissenting Opinion†. The effect that these appeals have on people is that it gives them a better feeling of the author’s credentials, knowing that what they are reading was written by an author that knows what they are talking about. The final appeal that is apparent throughout the article is that of logos. Although not as frequently used, the appeal of logos is still there. One specific example of a logos appeal is when the article states,†Ã¢â‚¬ ¦ -judge federal court ruled that Texas abortion law unconstitutional, and the case was the appealed directly to the U. S. Supreme Court†. This is a logos appeal because it applied to the logical side of the article in the way that it made the law maker go back and be more specific about what they were talking about. Finally, we take a look at how the author wrote this article. While the author uses the logos, ethos, and pathos appeals, the author uses a certain word choice, tone, and syntax t hroughout the article to also get their point across.Throughout the article, we see the author using very sophisticated and professional word choice, such as â€Å"Amendments† and â€Å"Constitutional†. These words also influence her tone, making the piece sound very serious; this is how it should be. The article is over abortion which is a very serious topic for women everywhere. We also get a trustworthy feeling out of the article because of these factors. Included in word choice is the repetition of certain words and phrases. These phrases open your eyes to what happens to women almost every day, still, even after the Roe vs.Wade case was over. Also, the author used no figurative language at all, which made it seem even more professional than a speech or anything other than something based strictly on facts and stuck to an objective tone throughout. In conclusion, this article is very professional and appeals to many groups of people through the logos, pathos, and e thos appeals about abortion and the Roe vs. Wade case. Although it had a lot of emotional appeal, it also had a huge professional feel, making it seem like a trustworthy article.

Indian Financial System

FINANCIAL MANAGEMENT ASSIGNMENT ON INDIAN FINANCIAL SYSTEM & SOURCES OF LONG TERM AND SHORT TERM FINANCES SUBMITTED BY, PREMJITH. A P10144 PGDM 2010-12 INDIAN FINANCIAL SYSTEM The financial system in india refers to the system of borrowing and lending of funds or the demand for and the supply of funds of all individuals, institutions, companies and of the government.Commonly the Indian financial system is classified into: * Industrial finance: funds required for the conduct of industry and trade * Agricultural finance: funds needed and supplied for the conduct of agriculture and allied activity * Development finance: funds needed for development; actually it includes both industrial finance and agricultural finance * Government finance: relates to the demand for a nd supply of funds to meet government expenditure The mobilization of savings and the effective distribution of the savings among all those who demand the funds for investment purposes. The banking system, the insurance companies, mutual funds, investment funds and other institutions which promote savings among the public, collect their savings and transfer them to the actual investors * The investor in the country composed of individuals investors, industrial investors, industrial and trading companies and the government, these enters in the financial system as borrowers. FUNCTIONS OF INDIAN FINANCIAL SYSTEM The Indian financial system performs a crucial role in economic development of india through saving investment process also known as capital formation. Sometimes it is also calls financial market.The purpose of financial market is to mobile savings efficiently and allocates the same efficiency among the ultimate users of funds, ie: investors * Increase in savings, that is resources that are would have been normally used for consumption purposes should be released for other purposes. * Mobilization of savings – domestic savings collected by banking and financial institutions and placed at disposal of actual investors; and * Investment proper, which is the production of capital goods. COMPOSITION OF THE INDIAN FINANCIAL SYSTEM The Indian money market is the market in which short term funds are borrowed and lent.The capital market in india on the other hand, is the market for medium- term and long term funds. Reserve bank of india Organized sector Sub Market Unorganized sector Public sector banks Private sector banks NBFC IDFC, GIC, LIC Call money T- Bills Certificate for Deposit Commercial Papers SHORT TERM AND LONG TERM FUNDS SHARES Shares comes in the Long term funds. A share is a unit of capital of the company. It has a definite face value. It represents ownership rights of their holders. Buyers of shares are called shareholder and they are legal owners of the firm whose shares they hold.Each shareholder invest their money in the shares of a company in exception of a return on their investment capital. The return of shareholder consists of dividend and capital g ain. Share holder make capital gain or (loss) by selling their share. Each share carries a distinct number. Shares are transferable units. Shareholders are of two type ORDINARY and PREFERENCE shareholders. Preference share: These shares have preference over the ordinary shares in terms of payment of dividend and repayment of capital if company is wound up. They may be issued with or without a maturity period.REDEEMABLE PREFERENCE SHARE are shares with maturity and IRREDEEMABLE PREFERENCE SHARES without any maturity. The holder of preference shares get dividend at a fixed rate. With regards to dividend, preference shares may be issued with or without cumulative features. In the case of CUMULATIVE PREFERENCE SHARES unpaid dividends accumulate and are payable in the future. Dividends in arrears do not accumulate in the case of NON CUMULATIVE PREFERENCE SHARES. Features of Preference share Claim on income and assets: preference share is a senior security as compared to ordinary share.It has a prior claim on the company’s income in the sense that the company must first pay preference share dividend before paying the ordinary dividend. Fixed dividend: The dividend rate are fixed in the case of preferences share, and preference dividend are not tax deductable. Cumulative dividend: that all past unpaid dividend be paid before the ordinary dividends are paid. Ordinary Shares: represents the ownership position in a company. The holders of ordinary shares called shareholders are the legal owners of the company. Ordinary shares are the sources of permanent capital since they do not have a maturity date.However, the ordinay shareholders are entitled to receive dividends. The amount or rate of dividends are not fixed. An ordinary share is called variable income security. Being the owner the company, shareholders bear the risk of ownership; they are entitled to dividends after the income claims of others have been satisfied. Similarly, when the company is wound up, th ey can exercise their claim on assets after the claims of other suppliers of capital have been met. Features of Ordinary shares: Claims on income: Ordinary shareholders have a residual ownership claim.They have a claim to the residual income, which is earnings available for ordinary shareholder after paying expenses, interest charges, taxes and preference dividend. Claim on asset: Ordinary shareholder have residual claim on company asset in case of liquidation. Voting rights: Ordinary shareholder are required to vote on a number of important matters. The most significant proposals include: election of directors and change in memorandum of association. RIGHTS ISSUE When company distributes all earnings to shareholders, then, it can reacquire new capital from the same sources by issuing new shares called rights shares.BONDS A bond is a long term debt instrument or security. Bonds issued by the government do not have any risk of defaults. The private sector companies also issue bonds, which are called debentures. A company can issue secured and unsecured debenture. In case of bonds and debentures, the rate of interest is generally fixed and known to investors. Features of Bonds * Face value is the par value. A bond is generally issued at a par value of Rs:100 or Rs:1000, and interest in paid on face value. * Interest rate is fixed and known to bondholders.Interest paid on a bond is tax deductable. Interest rate is called coupon rate. * Maturity bond is generally issued for a specified period of time. It is repaid on maturity. * Redemption value The value that a bondholder will get on maturity is called redemption or maturity value. A bond may be redeemed at par or at premium or at discount. * Market value A bond may be traded in a stock exchange. The price at which it is currently sold or bought is called the market value of the bond. Market value may be different from par value or redemption value.Bonds may be classified into three (1) Bond with maturity (2) Pur e discount bonds (3) Perpetual bonds Bond with maturity The companies issue bonds that specify the interest rate and the maturity period. Pure discount bonds These bonds do not carry an explicit rate of interest. It provides for the payment lump sum amount at a future date in exchange for the current price of bond. Perpetual bonds These bonds are also consols, has an indefinite life and therefore, it has no maturity value. Types of Debentures * Convertible debenture (CD) * Non convertible debenture (NCD) * Fully convertible debenture (FCD) * Partly convertible debenture (PCD)WARRANTS A warrant entitles the purchaser to buy a fixed number of ordinary shares at a particular price during a specified time period. Warrants are generally issued along with debentures as sweeteners. Warrants are used in conjunction with ordinary or preference shares. Characteristics of Warrants Exercise price of a warrant is the price at which its holder can purchase the issuing firms ordinary shares. Exerc ise ratio states the number of ordinary shares that can be purchased at the exercise per warrants. Expiration date is the date when the option to buy ordinary shares in exchange of warrants expires.Detachability the warrant can either be a detachable or non detachable. Detachable warrants Warrant can be sold separately from debentures to which it is originally attached Non detachable warrants cannot be sold separately from the debenture to which it was originally attached. Some of the other methods used for raising long term capitals, * CUMULATIVE CONVERTIBLE PREFERNCE SHARE * DERIVATIVE SECURITIES * BORROWING FROM FINANCIAL INSTITUTION (BANKS) SHORT TERM FUNDS It is the market for near money, or it is the market for lending and borrowing of short funds.It is the market for lending and borrowing short term surplus investible funds of banks and other financial institution are demanded by borrowers comprising individual companies and the government. The composition of Indian money mar ket consist of Call money market One important submarket of the Indian money market is the Call money market, which is the market for very short term funds. This market is also known as money at call and short notice. This market has two segments (a) the call market or overnight market and (b) short notice market. The rate at which unds are borrowed and lent in this market is called the call money market. Call money rates are market determined by demand and supply of short term funds. The public sector banks account for about 80% for the demand and foreign banks and Indian private sector banks account for the balance of 20% of borrowings. NBFC’s like IDBI, GIC, LIC are call money market lenders. Bill market in India The bill market ir the discount market is the most important part of the money market where short bills normally up to 90days are bought and sold. The bill market is further subdivided into commercial bill market and treasury bill market.The 91 day treasury bills are the most common ways the government of india raises funds for the short period. Government has also introduced the 182 day T-Bills and 364 day T-bills, In 1997 government introduced 14 day T-Bill. Dated government securities The government of india has also decided to sell dated securities on an auction basis. The purpose of this government decision is: * To develop dated securities as a monetary instrument with flexible yields * To provide financial instrument to suit investors expectation, and * To meet Government needs directly from the market.Repo and reverse repos Repos are now a regular feature of RBI’s market operations, If the banking system experience liquidity shortage, then RBI comes to assist banking system by repurchasing government securities. When the government securities are repurchased from the market, payment is made by RBI to commercial banks and this adds to their liquidity and enables them to expand their credit to industry and trade. Reverse repo is to sell dated securities through auction at fixed cut off rate of interest.The objective is to provide short term avenue to banks to park their surplus funds. Certificate of Deposits (CD) The CD’s are another important money market instrument. They were issued by banks in multiples of Rs:25 lakhs to expand the investor base of CD’s, the min: value was reduced and is presently Rs: 1 lakhs. The maturity is between 3 months and one year. CD ‘s are freely transferable after 45 days after the date of issue. CD’s became immediately popular with banks for raising resources at competitive rates of interest.Commercial papers (CP) The commercial papers are issued by companies with networth of Rs 10 crores, later reduced to Rs: 5 crores. The CP is issued multiples of Rs. 25 lakhs subject to minimum issue of Rs 1 crore. The maturity of Cp is between 3 to 6 months. The purpose of introducing CP is to enable high level corporate borrowers to diversify their source of s hort term borrowings on the one hand and provide an additional instrument to the banks and financial instrument in the money market.Reference: Financial Management by I M Pandey

MANAGERIAL TRAITS AND SKILLS Case Study Example | Topics and Well Written Essays - 500 words

MANAGERIAL TRAITS AND SKILLS - Case Study Example The basic assumption in the trait theory is that certain characteristic that have been utilised over time by leaders to be effective can be identified, and such traits underline the behaviors of leaders, making them effective. Evidence from several studies have identified a master list of such traits and positively correlated them to effective leadership. The trait theory suffers from drawbacks in that such traits are not universally found in all leaders, and leaders that have possess some of the traits in the master list were not effective. Furthermore, the trait theory does not support variance seen in leadership based on the dynamics of characteristics, activities and goals of the followers (Van Wart, 2011). In spite of these drawbacks it is my opinion that trait theories do provide significant insight into leadership or the personal nature of leadership. From the trait theory it is possible to understand that leadership involves having vision, contagious enthusiasm, self-confiden ce, ability to enable others, and making things happen. It is the conjunction of these characteristics along with other factors that contributes to leadership. It is the people skills and not the position held that make for leadership.

How U.S. Government and regulatory bodies can manage business cycles Essay

How U.S. Government and regulatory bodies can manage business cycles - Essay Example Business cycles can be defined as larger fluctuations in the economic activities or in the production of goods and services over a long period of time. It is sometimes known as economic cycle and is often associated with periods of high economic growth. The business cycle therefore consists of periods of economic booms as well as periods of economic recession or decline. The measurement for the business cycle is often done by the government through the measure of the Gross Domestic Product (GDP) of a particular nation. It is however important to note that even though it is termed as a business cycle; it does not follow ant pattern or any mechanically predictable pattern (Lynch, 85). In this context, it is therefore difficult to tell what pattern or direction the future cycle will take. This presents a challenge to the managements of the business cycles and call for better ways of forecasting. The explanation of the causes of the business cycles remains some of the controversial issue s in the analysis of economic growth in many economies (Hill, 320). One of the most common known causes of business cycles is the disequilibrium commonly known as the Keynesian theory. This theory is based on the argument that the fluctuation in the economy often begin because of lack of demand for the workers or labor. The argument here is that labor market or demand for labor do not adjust immediately but take very long time and hence it is difficult for the government to adjust appropriately and at the right time (Agnew, 197). The lack of demand for workers often adjust after very long period of time and the result of this is that it takes time. Moreover, the wages for labor and the prices are sticky as some are not easily adjustable and hence it takes very long time for the labor market to respond to the demand. â€Å"If output goes down it is due to that market fails to clear pushing the economy into recession† (Brentani, 109). This explains the downwards and the upward trends in the economy that forms the business cycles witnessed not only in the United States of America but also in the other nations across the world. The real business cycle theory on the other hand asserts that the changes or the fluctuations in business occur as a result of real factors. It is important to note that this theory believes that the government should not take part in controlling the market forces. The market forces of demand and supply should be left to adjust on their own (Treve, 72). The intervention of the government through the monetary as well as fiscal policies is not necessary, because the economy is capable of adjusting to the changes on its own. This theory also puts more emphasis on the substitution of labor and technological shocks as the major causes of business cycles. Failure of the economy to adjust to these changes would therefore lead to economy moving to recession. With regard to this theory, the rates of changes or the degree to which workers resp onds to incentives determines the supply of labor. Fluctuations in the level of technology also have serious impacts on the labor productivity because it affects the incentives (Knoop, 251). The high rise in technology would improve the productivity of labor and hence the real wages would rise as well. This would then result into the increase in the output and rates of employment and vice versa. This theory has also considered other factors like terrorism, disasters, political unrests, weather conditions among other factors that can affect output of an economy. In this way of argument, money does not impact on output neither does output impact on money and hence both move together in the same direction (Knoop, 253). Real business cycle theory is thus very important in the understanding of business cycle theory. However, just like any other theory, it is not perfect and has its own limitations. The

Course Pak Articles Spring 2013 Term Paper Example | Topics and Well Written Essays - 2000 words

Course Pak Articles Spring 2013 - Term Paper Example This holding environment is of great importance for lesbians in the society in the sense that it acts as a therapeutic holding environment. In this environment, a lot of healing and progress takes place and hence it acts as a safe psychological place for therapy. In these holding environments, deep connections are established where unconscious communication can be established. This is as determined by scharff and scharff in the year 1991(Sussal, (n.d). In the social context, the approach used by the author in couple’s therapy is with psychoanalytical approaches. In the psychoanalytical approaches, stresses affecting the lesbian couples are addressed with regard to their past and the present. This approach is effective in the sense that the problems facing the lesbian couples are addressed at their roots and hence workable solutions are determined. The use of the psychoanalytical approach to couples therapy is effective to the lesbian couples because lesbian couples are more likely to be exposed to social discriminations as they go about their lives. Hence, this form of therapy according to the author is effective in curing cases of homophobia among lesbians, which is considered a sickness (Sussal, (n.d). Couple’s therapy with lesbians employs the use of repressed ego systems. The use of repressed ego systems has improved the relations between lesbian couples. This is because it assists couples in overcoming the fears intimacy because of experiences of rejection and frustration. Fairburn determined this theory in the year 1954 in what was known as anti-libidinal ego. This theory determined that split off ego is resident in the unconscious and affects how lesbians relate to each other as a couple and towards the outside world (Sussal, (n.d). Sex therapy is inclusive as part of couple’s therapy with lesbians. This is because just as is the case with heterosexuals, lesbians have their share of

My Dream Vacation Essay Example | Topics and Well Written Essays - 250 words

My Dream Vacation - Essay Example If I have a lot of money and unlimited time, I would like to go on vacations to India. I have heard a lot about India, its unique culture, exotic natural beauty and cuisine, but have never been there. I want to visit India because she is so unlike my country i.e. the USA. People of India not only look different, they speak a different language and are entirely different from us Americans from every aspect. For one, I love the Indian race because of its facial features. I want to explore the diversity of India. From what I have read about India in the books and seen in the media, I have come to know that it is a land that unites people belonging to different subcultures. I particularly have a great taste for the Indian cinema. Although I don't understand Hindi or Urdu languages, yet they sound very sweet to the ears. The Indian cinematography is one of its kind. I love the heavily beaded dresses, their taste for heavy jewelry and makeup, and most importantly their respect for their ro les and responsibilities as members of a family. One thing that I could never understand about the Indian culture was how the Indians manage to live in the joint family system. Despite all the generational differences and gaps, they spend all their life together. This is something truly remarkable and worth-observing from a closer view, which is one of the main reasons I want to go to India for.

The recent advancements made in petroleum microbiology Term Paper

The recent advancements made in petroleum microbiology - Term Paper Example Petroleum, in the twenty – first century, remains to be one of the most significant sources of fuel and energy. It is a complex blend or mixture of different types of hydrocarbons and organic compounds. It may sometimes also contain traces of transition metal complexes (called organometallo) like nickel and vanadium (Lerner, 2011). The compositions of petroleum, and thus its physical and chemical properties, vary from place to place, and from area to area. In the current scenario, the demand for petroleum and its by – products continues to rise. In an answer to them, science has come up with the use of microbiology during the extraction and purification of petroleum. The study of this use and application of microorganisms in the fuel industry is called petroleum microbiology (Encyclopedia, 2005). The most important experimental works in the field of petroleum microbiology have been done by Claude ZoBell (Lerner, 2011). His research, which extended for over 40 years (193 0 – 1970), has proved that microorganisms, especially bacteria, play an important role in most of the vital processes related to petroleum, which include its formation, extraction and refining. The hydrocarbons and petroleum products have been termed as ‘substrates’ or ‘nutrients’ for microbes, which they need in order to carry out efficient metabolism. This feeding of bacteria and fungi is aided by the action of certain enzymes and is called, biodegradation (Hamme, 2003). Most of the hydrocarbons are broken down to release carbon dioxide, water, proteins and nucleic acids. The carbon dioxide escapes to the atmosphere while the rest of the products are used for cellular growth. Bacteria and fungi involved in biodegradation are highly specific in function, that is, not all bacteria can break down a specific hydrocarbon or organic compound. Pseudomonas and mycobacterium are examples of some degrading bacteria while examples of fungi include Candida (Va n Hamme, 2003). With the advancement of biotechnology and microbiology, scientists have widened their understanding and developed better concepts of the metabolic processes related to microbial actions on petroleum (Van Hamme, 2003). The effects of the use of the hydrocarbons as substrates by the microorganisms involve alteration of cell surface membranes and mechanisms of both uptake and discharge. Similarly, the ability to study the behaviour of microbial organisms, in a petroleum rich environment at a molecular level has also been enhanced. Under the optimum conditions for the growth of these organisms, they have been treated with hydrocarbons, and transformed to take part in highly accelerated and bioreactor-based petroleum waste degradation processes, that are now being implemented (Atlas, 1995) (Van Hamme, 2003). In the modern world, petroleum microbiology is an important part of bioremediation which involves controlling oil pollution (Bronson, 1993). Bioremediation is the use of microorganisms to get rid of pollutants and harmful substances from the environment. Oil pollution is the result of seeping and spillage of oil from tankers into the sea, as well as intentional or deliberate discharge of oil products into the water sources. The huge spill of crude oil from a tanker near Alaska’s coast back in the 1980s practically showed the scientific world of the usefulness of biodegradation (Bronson, 1993). Scientists observed the actions of the microorganisms present in breaking down the oil and thus, getting rid of it, both on and offshore. Experimental evidences also showed that the microbial actions are affected by factors like temperature and pH. This led to the establishment of a rapidly growing industry which makes uses of microbial remedies to counter water pollution. Modern researches have also proved that waste products produced by one microorganism during biodegradation can be used as a source of food by the others

HD paper Essay Example | Topics and Well Written Essays - 750 words

HD paper - Essay Example The choice of Piaget’s theory of cognitive development was based on the fact that there is always a change in human’s mental processes due to environmental experience and biological maturation. The TV episode shows that human beings undergo changes in the way they think as they change their environment and mature with time. The characters in the TV episode have undergone changes in the way they think and their characteristics, which clearly show that mental capacity of human being, keep on changing with time (Goswami,2003). There are two major assumptions in Piaget’s theory of cognitive development that are evident in the TV episode. One of the assumptions is that there is a big difference in the way children and adults think and that intellectual growth is a process that involves adaptation to changes in the environment or situations. The way children think is different from that of adults as it is well represented by the TV episode where young Sydney refuses to acknowledge the adoption of Victor. Unlike other characters who celebrate the adoption ceremony, young Sydney feels that Victor is not part of the family and so the plan of adoption does not auger well with her conscience. The reunion between Amber and Ryan clearly show that situation may make people to change. After offending Amber, Ryan makes a point of apologizing to her. Amber tells Ryan that a few years ago, she was drunk and had a car accident but the situation marked the turning point in her life as it had allowed her to mature a nd grow. The two reconcile in a manner that fulfills the assumption that situation or environment has a direct effect on individual’s ability to undergo biological maturity (Wadsworth, 1996) The vital concepts presented by Piaget’s theory of cognitive development are egocentrism and Assimilation. Assimilation takes place when people are faced with unfamiliar and new information and may refer

Outline and discuss the evolution of CSR, including its history, role Essay

Outline and discuss the evolution of CSR, including its history, role in the financial crisis and prospects for the future. Supp - Essay Example In this documentary film, Moore conducts an investigative research on the impact that the closure of General Motors’ auto plants in Flint, Michigan, United States, had on the local communities. From the documentary film, it is clearly noted how by 1988 a leading company in the caliber of General Motors failed to denote its significant contribution to the local communities where it operated and it even failed to establish a clear structure of how the organization relates with the local communities. At the time of the Closure, Moore, reported that General Motors was making substantial amounts of profits but its decision to relocate its plants to Mexico was mainly motivated by the fact the company was seeking to lower its operating expenses by using cheap labor that was available in Mexico. Whilst making this decision, Mr. Roger Smith, the chairperson of the corporation at that time, failed to be socially responsible because of the fact that his decision led to 30,000 jobs losses , and a severe economic recession within the Flint area. Moreover, there was increase in cases of crime, evictions across the area because of failure to pay rent, and massive exodus of people from the area. Presently, General Motors Corporation is one of the leading companies in the world, which has a well-elaborate corporate social responsible unit that is managed through the GM foundation, and this is a clear indication that corporate social responsibility has evolved overtime and it has grown to become an integral part of the business model of most business organizations. This present essay is based on company law and it seeks to outline and discuss the evolution of corporate social responsibility, including its history, role in the financial crisis, and prospects for the future. The history of corporate social responsibility The writings by McWilliams et al. (2006), aimed at demonstrating the evolution, which human resource management and corporate social responsibility have und ergone. This writings succeeded in doing this by first establishing a valid point that during the early stages of industrial revolution, which was taking place across various countries that are now developed, all of the companies treated their employees as machinery that were designed for performing various tasks and being rewarded. This means that companies did not put into consideration the welfare of their employees. However, following the establishment of the

Innovation course PowerPoint Presentation Example | Topics and Well Written Essays - 1750 words

Innovation course - PowerPoint Presentation Example ter is to improve the delivery of quality health care conforming to the strict standards of the Joint Accreditation Commission of Health Organizations (JACHO). It basic strategy to attain its vision and mission is to manage innovation through governance and leadership skills. The first strategy is to employ non-nurse managers to head their nursing units. It is strategic move to enable nurses to focus on patient care and not be bogged down with administrative work. This move paved the way to increase morale and productivity in the units, and increased patients’ satisfaction with regard to the delivery of efficient and effective healthcare. The second strategy was an innovative structure necessitating building a two-tower structure which stands on a 1.6-hectare property. This move would capture a more extensive clientele thereby improving their market share. The third move was to institute actions which are â€Å"firsts† in the industry. First to invest in advanced medical equipments to cater to more patients not only in the local market but in the neighboring Asian nations. Further, this strategy puts SLMC in the top spot among the medical institutions in the Philippines. Innovative companies have well defined goals, vision and mission. The vision defined 2010 as the year to achieve its being one of the top 5 hospitals in Asia and would be achieved through highly competent and caring professionals and with the use of world class technology and research. Leadership is essential in managing innovation. The appropriate leadership skills are matched with personalities, characteristics and behavior of its human resources to motivate them into achieving organizational goals. Company’s resources must be maximized. Human resources are acknowledged as their most important asset. Property, equipment, and processes are continuously updated. And management has made a commitment to invest in technologically advanced medical equipments to compete with other top health

Joseph Stalin Essay Example for Free

Joseph Stalin Essay One man that has gone down is history as one of the most cold-hearted, ruthless killers goes by the name of Joseph Stalin. Stalin, originally born with the name Iosif Dzhugashvili, was born in Gori, Georgia on December 21st 1879. At the time, the town where Iosif Dzhugashvili was born and raised was plagued by a lot of street violence. After demonstrating his devious way of thinking and his will to come to absolute power, Iosif Dzhugashvili eventually adopted the nickname â€Å"Stalin† from the Russian word â€Å"steel†. Once he received his new nickname, he used it as a pseudonym in his published works. Many do not know the story of Stalin’s younger years and the effect it had to the way he carried himself as a dictator. After careful speculation, it is clear to see that the future dictator and killer was very coldhearted from a very young age. From a very young age, Joseph Stalin was subjected to a lot of violence. Some of the most prominent violent events that affected the young boy started with his mother. Ekaterina Shubnaya in her piece â€Å"Prominent Russians: Joseph Stalin† states that â€Å"Some sources, however, claim that, as a strict and religious woman, she frequently resorted to physical punishment, which she believed was an integral part of child rearing. Stalin’s relationship with his mother was strained and he didn’t even attend her funeral in 1937† (1). Here, we see that violence was a natural way of Stalin’s mother to raise the youngest son of her 4 children. She would have never thought that this violence would have led her son to become one of the most violent human beings to ever live. The psychological effects of violence that Joseph Stalin went through from a young age followed him for the rest of his life. After further research, it is seen that even as a young boy, Joseph Stalin felt very lonely and unloved. The reason for this was because even his father, caused him pain psychologically and physically. Ekaterina Shubnaya continues by explaining that â€Å"Josephs father, Vissarion, a shoemaker, was heavily addicted to drinking and had a drunken habit of beating up his wife and son. Stalin recalled getting so mad at his father that he once almost killed him by throwing a knife at him† (1). His rough childhood only continued when at the age of twelve, two horse-drawn carriage accidents left his left arm permanently damaged. At the time, Joseph also caught small pox which left his face permanently scarred. The scarring on his face was a source of ridicule by the other children. As Joseph Stalin got older, he rose to power thanks to a man named Lenin. Lenin lead the Russian Communists to power in November 1917 and remained in power. With the help of Lenin, Joseph Stalin began to act ruthless and careless of others. When Lenin became too sick to lead the country in a proper way, Stalin took over and went against Lenin’s ideas and ways of leading. Noticing that Stalin wasn’t showing the characteristics of a loyal and respectful leader, Lenin wrote a testament in which he stated that he suggested Stalin be removed. John Simkin, in his piece â€Å"Joseph Stalin† shares the testament written by Lenin. It states â€Å"Comrade Stalin, having become General Secretary, has concentrated enormous power in his hands: and I am not sure that he always knows how to use that power with sufficient caution. I therefore propose to our comrades to consider a means of removing Stalin from this post and appointing someone else who differs from Stalin in one weighty respect: being more tolerant, more loyal, more polite, more considerate of his comrades(2). However, Lenin died before any actual could be taken and Joseph Stalin became the new leader of the Soviet Union. Now as the leader of the Soviet Union, Joseph Stalin became very paranoid and did not trust anyone. He went against anyone that disagreed with him and had them executed. He executed journalists, and anyone else who had contact with him and who he disliked. Leon Trotsky was a man of a lot of power in the Soviet Union but Stalin made him step down from his position to gain even more power. John Simkin tells us that â€Å"In 1936 Nickolai Bukharin, Alexei Rykov, Genrikh Yagoda, Nikolai Krestinsky and Christian Rakovsky were arrested and accused of being involved with Leon Trotsky in a plot against Stalin. They were all found guilty and were eventually executed† (3). The execution of these people and of many others was clear evidence that Joseph Stalin was killing people not because they were committing crimes or doing anything bad, but because he personally didn’t trust them and killed them from pure intuition and impulse. The absurd truth about Joseph Stalin is that he killed his own people. He killed people in his own country and in his own government. The people that helped him rise to power were the people he did not trust and who he had executed or made to disappear without any explanation given. John Simkin explains to us that â€Å"In June, 1937, Mikhail Tukhachevsky and seven other top Red Army commanders were charged with conspiracy with Germany. All eight were convicted and executed. All told, 30,000 members of the armed forces were executed. This included fifty per cent of all army officers† (3). With all these executions, people lived fearful of Stalin and did not dare test his patience. The violence against his own people is direct evidence of the psychological effects that the beatings from his parents had on Stalin. Since the people who supposedly loved him, beat him, it became second nature for Joseph Stalin to do the same with the people of his country when he rose to power. It is said that Joseph Stalin has killed over 20 million people during the time of dictatorship but there were even more killed during World War II. Palash Ghosh in her piece â€Å"How Many People Did Joseph Stalin Kill? † writes that â€Å"an amoral psychopath and paranoid with a gangster’s mentality, Stalin eliminated anyone and everyone who was a threat to his power – including (and especially) former allies. He had absolutely no regard for the sanctity of human life†(1). There were another 20 million people killed during World War II amounting to a total of 40 million Soviet troops and civilians killed. The ruthlessness Joseph Stalin showed had become vividly present with his own family. Stalin had a son named Yakov who was an artillery lieutenant in the 14th Howitzer Regiment of the 14th Armored Division. Yakov refused to withdraw when German forces overran his men near Smolensk. Stalin had the expectation that no Soviet soldier was expected to be captured. He preferred his troops to commit suicide than to be captured by the opponent. This rule also applied to his son, who was captured. Brenda Haugen, writer of â€Å"Joseph Stalin Dictator of the Soviet Union† describes that â€Å"German authorities proposed a trade. They expected the Soviet leader would welcome his son’s return. A message was sent to Stalin that said the Germans would release Yakov if the Soviets freed a German officer. Stalin refused. ‘I cannot do it,’ Stalin said. ’War is war’†(11). This decision cost Yakov his life who was later believed to be killed or may have commited suicide. He died in April 1943 after running into an electric fence surrounding the camp where he was held. It is said that Joseph Stalin never felt any remorse for his son’s death and told people he had no son named Yakov. It is a clear indication that Stalin didn’t have a special bond with his family or any type of value for human life in itself. It seems that Stalin grew to be a coldhearted man who didn’t value anyone but himself. Brenda Haugen continues by stating that â€Å"In times of war, most leaders would find it difficult to justify offering special treatment to their own children. How could they spare their own childrens lives while others died fighting for the same cause? But Stalin was different than other leaders of his time. Not only did he refuse to provide special treatment to his family, he also didn’t value human life†(11). The ruthlessness of Stalin is astonishing that he would let his son be killed without any type of remorse. There’s an old saying that says that family comes first but this saying doesn’t seem to apply to Joseph Stalin’s way of thinking. Even though Stalin was one of the most well-known villains in history, he was still a very mysterious man. There is very little known about his childhood and his family. The records that have been recorded are not concrete because as Stalin gained power, he had the tendency to make things be the way he wanted them to be and no one could question him. This being said, some facts of his life seem to be produced by his fictional events created by him and not what may have really happened. Scott Ingram writes in his piece â€Å"Historys Villains Joseph Stalin† that â€Å" Another reason Stalin’s life remains shadowy is that he ordered his biography to be rewritten several times. With each of these rewrites, older records were destroyed. The more powerful Stalin became, the more he was able to take credit for things he had not done. His Communist biographers were forced to revise twentieth-century Russian history books to go along with Stalin’s orders. The aim was to present to the world the most flawless possible account of the great leader†(8). These lies brainwashed people into thinking that Stalin was a different person than who he really was. He made people see him as a perfect leader and not as a person who was killing the people that supported him. In conclusion, it is very easy to see that Stalin was influenced by his childhood experiences to become the person he was. The ruthless leader took the experience of the beatings his parents gave him and in a way beat his own country when he rose to power. He was and still is the most ruthless leather to ever live. He used fear to keep people controlled and to make people do exactly what he wanted them to do. He had people in such fear that before every speech, people were afraid to be the first to stop clapping because they’d be killed. The audience would clap for over 10 minutes in fear of being the first one to stop. This type of control is what let Joseph Stalin do anything he wanted without having anyone tell him it is wrong or to stop him from doing it. During his last days, he fell into a comma and in his last moments, in an attempt to keep living, he cursed everyone near his death bed and finally died. Joseph Stalin was a ruthless dictator and human being who had no type of remorse for anything he ever did.

Project Construction Management Plan

Project Construction Management Plan Dear VU Pty. Ltd., RE: Construction Management Services I refer to your advertisement regarding the delivery of construction management services, as tendered online on 8th March 2017 and thus desire to express our interest in executing the expected objectives of the project. Best builders and management services had been established in the year 2005 and for the past 12 years, we have been basically engaged in managing and delivering projects. Our familiarity with your preferences and objectives is totally unparalleled thus making Best builders and management services team an immediate asset to the VU Development complex project. The experience, expertise and competency of Best builders and management services will indefinitely ensure a successful project termination which will undoubtedly be executed within the prescribed budget and time period. Below mentioned are our prime strengths that perfectly favor your proposed project: Sound knowledge and strong track record of planning, initiating and executing projects within the prescribed budget and time Diverse experience in the development of high rise buildings The same project team has been working on similar kind of projects since the establishment of Best builders and management services Team coordination and mutual understanding of individual roles and responsibilities in delivering a successful project We as a team are pretty confident that the quality of our experienced professional staff will indefinitely lead to VU development complex project a success. And hence, we all are excited about the opportunity to work with your organization for the execution of this project. I thus look forward to discuss this with you further. Yours sincerely, Glenn Maxwell Project Director Best Builders and management services 1. Introduction of our firm Best Builders management services is privately owned professional firm providing design, construction and management services. The firm was established in 2002 in Melbourne CBD with a view to take after the most elevated proficient norms. Regardless of whether a venture is expansive or little the experts at BBMS work with the steadiness and responsibility to fulfill customer needs with the mix of involvement, expert aptitudes and the innovative use of ideas. Our operation started in 2005 with the motivation behind giving assortment of services on request of its first significant client. We have been included in outline and development of numerous medium ascend and elevated structures in Melbourne. With more than 25 profoundly devoted lasting staffs and different partners give an incorporated way to deal with multidisciplinary designing and construction projects. 1.1 Capability BBMS has a reputation of over 12 years in the field of building design, construction and management services for local and worldwide projects. We have offices and extensive building assets and experience to give point by point designing outline, development and consultancy administrations for compositional, basic, electrical, mechanical and sterile designing plan. Our dedication and diligent work to rehearse imaginative strategies has helped BBMS to set new guidelines and values. We have highly qualified groups of designers, engineers, construction teams, project and risk managers. At BBMS the hard-working attitude is alive. The experts drew in here are completely devoted to give the absolute best yield at least conceivable cost. Best builders and management services has undertaken many large scale and challenging projects in the past years which gives us the confidence to undertake your proposed project. Relevant services, Best builders and management services has been involved with: 1.2 Past successful projects Assignment name: Construction of 35 Spring street Country: Australia Location: Melbourne Address: 35 Springs Street Melbourne VIC 3000 Professional Staff Provided: Architects, Structural Engineers, Civil Engineers, Electrical Engineers, Sanitary Engineers and HVAC Engineers Number of staff: 17 Client: Colliers International Start Date: March 2014 Finish Date: February 2017 Duration: 35 months Name of Senior Staff: Romil Team Leader / Civil engineer, Construction manager (28 years industry experience) Shreysha Head of Architecture (25 years industry experience) Vani Sanitary Coordinator (23 years industry experience) Simar HVAC Designer (20 years industry experience) Estefania Senior Structural Engineer, Construction manager (24 years industry experience) Jack Senior Electrical Engineer (20 years industry experience) Description of Project: The project is the construction of the 35 Spring street apartment building. The Complex is 45 stories high (166m), with a construction budget of $350,000,000 with a 35 month build time Assignment name: The construction of Vision Apartments Country: Australia Location: Melbourne Address: 500 Elizabeth street Melbourne VIC 3000 Professional Staff Provided: Architects, Structural Engineers, Civil Engineers, Electrical Engineers, Sanitary Engineers and HVAC Engineers Number of staff: 25 Client: Visions Apartments Start Date: September 2010 Finish Date: December 2013 Duration: 39 Months Name of Senior Staff: Romil Team Leader / Civil engineer, Construction manager (28 years industry experience) Shreysha Head of Architecture (25 years industry experience) Vani Sanitary Coordinator (23 years industry experience) Simar HVAC Designer (20 years industry experience) Estefania Senior Structural Engineer, Construction manager (24 years industry experience) Jack Senior Electrical Engineer (20 years industry experience) Description of Project: The project is the construction of the Visions Apartments complex in Melbourne. The structure is 69 stories high (223m) and has a construction budget of $500,000,000 with a construction time of 39 months Assignment name: Construction of Optus Centre Melbourne Country: Australia Location: Melbourne Address:367 Collins street Melbourne VIC 3000 Professional Staff Provided:Structural Engineers, Civil Engineers, Electrical Engineers, Sanitary Engineers and HVAC Engineers Number of staff: 14 Client: Optus Start Date: April 2011 Finish Date:September 2013 Duration: 30 Months Name of Senior Staff: Romil Team Leader / Civil engineer, Construction manager (28 years industry experience) Shreysha Head of Architecture (25 years industry experience) Vani Sanitary Coordinator (23 years industry experience) Simar HVAC Designer (20 years industry experience) Estefania Senior Structural Engineer, Construction manager (24 years industry experience) Jack Senior Electrical Engineer (20 years industry experience) Description of Project: This project consists of the construction of the Optus centre in Melbourne. The structure is 34 stories and has a budget of $300,000,000 with a construction time of 30 months. Assignment name: Construction of The International Tower 1, NSW, Sydney Country: Australia Location: New South Wales Address: 200, Barangaroo Avenue, Sydney NSW 200 Professional Staff Provided: Architects, Structural Engineers, Civil Engineers, Electrical Engineers, Sanitary Engineers and HVAC Engineers Number of staff: 13 Client: ITS development Start Date: 2016 Finish Date: 2012 Duration: 40 months Name of Senior Staff: Romil Team Leader / Civil engineer, Construction manager (28 years industry experience) Shreysha Head of Architecture (25 years industry experience) Vani Sanitary Coordinator (23 years industry experience) Simar HVAC Designer (20 years industry experience) Estefania Senior Structural Engineer, Construction manager (24 years industry experience) Jack Senior Electrical Engineer (20 years industry experience) Description of Project: The project is the construction of the International Tower 01 office and residential building. The Complex is 49 stories high (712f), with a construction budget of $49,000,000 with a 40 month build time Assignment name: Construction of Freshwater place North Melbourne Country: Australia Location: Melbourne Address:1 Queens Bridge Square Melbourne VIC 3000 Professional Staff Provided: Structural Engineers, Civil Engineers, Electrical Engineers, Sanitary Engineers and HVAC Engineers Number of staff: 16 Client: Freshwater Place apartments Start Date: 2002 Finish Date: 2005 Duration: 36 Months Name of Senior Staff: Romil Team Leader / Civil engineer, Construction manager (28 years industry experience) Shreysha Head of Architecture (25 years industry experience) Vani Sanitary Coordinator (23 years industry experience) Simar HVAC Designer (20 years industry experience) Estefania Senior Structural Engineer, Construction manager (24 years industry experience) Jack Senior Electrical Engineer (20 years industry experience) Description of Project: This project consists of the construction of the Freshwater Place apartments in North Melbourne. The structure is 63 (673f) stories and has a budget of $295,000,000 with a construction time of 38 months. 1.3 Project objectives Deliver a successful and profitable project Prepare complete design for the proposed construction work Prepare cost estimate and review the viability and feasibility of these works in terms of cost, time and quality Carry out complete construction supervision during construction stage Ensure that the work is carried out in a timely manner Ensure that the project is implemented in accordance with the conditions of the contract Ensure that the cost of construction is controlled without exceeding the allocated budget Prepare monthly reports regarding the progress of the works and the conditions of site, investigate the obstacles and recommend practical remedies. 2. Project description: The proposed VU development complex is to be constructed in the CBD area of Melbourne. The site is located at 364 and 372 Lt Lonsdale St. Currently, both sites (364 and 372 Lt Lonsdale St) are occupied with single and double storied vacant buildings made up of bricks. The site of the proposed building is bounded by roads and properties on four sides. A road runs between existing site marking the boundary for 364 and 372 Lt Lonsdale St on the eastern and western side respectively. The shape of the site is regular and the area is about approx. 1935 m2 including the dividing roads. 32 storied complex has been proposed on the site for office use. The conceptual design consists of 4 basements for parking and numbers of plant rooms required for the complex. Ground floor is designed for retail purpose. The street level floors will be fully landscaped and will have limited area of retail and entertainment areas. The cost of the building is estimated to be around $120 million including financial charges and cost escalation. The total development period is 30 months including three phases (design, permits and construction). ORGANIZATION STRUCTURE MANAGEMENT TECHNIQUES TO BE ADOPTED WHILE EXECUTION Construction management plan Construction supervision and management aims at the accomplishment of the construction as per the contract agreement. Construction work can be imagined to be having two parts, namely manpower and material mobilization It basically consists in the provision of a competent team of supervisors who can for see the requirement of a particular quantity of the material and manpower in the different stages of the works The list of jobs to be done are as follows Quality assurance and timely performance of the works Check and approve time and construction schedule, drawings, data and samples submitted by contractor Maintains accounts of construction Inform the management at a specific period on the status of the project in terms of cost, time and performance (daily reports, monthly progress report, site meetings report and final reports). Preparation of project completion report Project handover Final acceptance certificate Quality assurance procedures We have proposed a team of experts with highest professional skills in order to maintain the quality works of the project. The design and drawings will be carried out as per the relevant codes. Final drawings of design and detailing will be freeze prior to the initiation of the construction phase. Preparation of cost estimate, bill of quantity and specifications will be done by experienced professional and will further be checked by senior personnel. Specification will specify the constructions methodology and details of materials to be used in the project to avoid low quality materials and poor workmanship. Risk management plan In the construction industry, every project is prone to some risks that affects the work progress. In order to avoid its impact, risk should be identified and manage beforehand to achieve the project objectives in terms of cost, time and quality. Our company has gained experience in mitigating the risks and delivering the past projects successfully. For VU development complex we will identify, analyze, evaluate and prepare a mitigation plan according to the standards (IEC/ISO 31000:2009). Communication management plan To carry out the project in an effective manner a proper system of information will be developed to avoid miscommunication between Client and the consultants. It will keep the parties up-to-date regarding the work progress. In order to complete the proposed project successfully within the stipulate time frame, extensive interaction will be carried out with the client. Health and safety plans Management is determined to implement safety in all activities on site and action to eliminate risks related with health and welfare of the stakeholders. We will provide a safe working environment, facilities for the welfare of workers, information, instruction, training and supervision necessary to ensure the safety of workers from injury and health risks We will improve our performance through effective safety management Each worker has to follow safe work practice to avoid injury to themselves, others as well as plants and equipment. FEES PROPOSAL: Project Managers And other Personnel Fee per hour Rate per year Total Fees Personnel Assignment % Construction Manager $179 $483K $1.2M 18% Project Director $140 $378K $945K 14% Structural engineer $120 $324K $810K 12% Sanitary coordinator $111 $299K $747K 11% HVAC designer $103 $278k $695K 11% Senior civil engineer $118 $318K $795K 12% Senior electrical engineer $109 $294k $735K 11% External consultants x 4 $100 $270k $675K 10% Total Fee Proposal $6.6M 100% Deliverable Acceptance Criteria Project definition and detailed schedule Our definition of the project must align with customers task brief Permits to be approved (VIC government, Melbourne city council, traffic management, demolition, environmental) All permits are approved Cost model estimates for hired labour All costs have been assessed and approved Risk management evaluation All risks have been assessed and a risk management plan has been commissioned Procurement costs (Steel, hardware etc.) All costs have been assessed and approved Consultation with stakeholders who may affect the project All concerns of the stakeholders have been addressed before the project begins Project management plan (PMP) The PMP must describe what the project will do, as well as how and when it will be done Status reporting The status of the project is compared to planned deadlines Execution phase Each construction period is executed and signed off Project closure Once the project has been successfully completed DELIVERABLES: Appendices Roles and Responsibilities Designation Responsibilities Chief Operating Officer-CEO Executing BBMSs vision and mission Working with investors and sponsors Quality Assurance / Quality Control Division Stating quality control procedures Supervising quality inspections General Manager-GM Handling projects at the state level Supervision of Construction Managers on different projects Account and Finance Department Managing all Financial aspects Audits Implementing cost control Prepare financial reports Safety Committee Analysing and Implementing safety on sites Define safety procedures Safety training Construction Manager- CM Accountable for all field activities Supervising overall project Outlining construction methods Procurement Manager Preparation of all contractual documents Administration and control of contracts Project Manager- PM Project planning, monitoring and controlling Collaborate with client representative for any changes in action plan Managing activities with time, cost and quality constraints Curriculum vitae ESTEFANIA VELASQUEZ GONZALEZ Civil Engineer Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education Victoria University-Master of Project Management 2003 Victoria University University-Bachelor of Civil Engineering 1997 Recent Projects Senior Structural Engineer, Construction manager 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia SIMARJOT SINGH Mechanical Engineer Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education Victoria University-Master of Project Management 2003 Victoria University-Bachelor of Mechanical Engineering 2000 Recent Project HVAC Designer 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia KALEIVANI GOVINDA GOUNDEN Electrical Engineer Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education RMIT University-Master of Project Management 2002 Bachelor of Electrical Engineering and Automation 1999 Recent Project Sanitary Coordinator 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia ROMIL MISTRY Civil Engineer Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education Victoria University-Master of Construction Management 2002 Victoria University University-Bachelor of Civil Engineering 1996 Recent Project Civil engineer, Construction manager 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia SHREYSHA SHRESTHA Architect Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education Victoria University-Master of Project Management-2003 Bachelor of Architecture-2000 Recent Project Head of Architecture 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia JACK FRANCIS HICKEY Electrical Engineer Best Builders and Management Services L18, 242 Exhibition Street, Melbourne, VIC 3000 www.bbms.com.au Education Victoria University-Master of Construction Management 2003 Victoria University-Bachelor of Electrical Engineer 2000 Recent Project Senior Electrical Engineer 35 Spring St Building (2014-2017) Melbourne, Australia The International Tower 1 (2012-2016) Sydney, Australia Vision Apartments (2010-2013) Melbourne, Australia Optus Centre (2011-2013) Melbourne, Australia Fresh Water Place (2002-2005) Melbourne, Australia

Challenging Logistics And Supply Chain Management Commerce Essay

Challenging Logistics And Supply Chain Management Commerce Essay The supply chain can be defined as being a group of partners who collectively convert a basic commodity into a finished product that is of value to the end user. In the supply chain each partner must perform a task which adds value to the final product/service (Harrison, Van Hoek, 2008). The supply chain is viewed as a single entity rather than a series of fragmented elements such as procurement, manufacturing and distribution. Logistics management could be seen to include the long-term decisions and plans needed for reform, whereas the supply chain includes the more operational elements. In a supply chain, every partner ought to add value to the finished productservice through some process or procedure (Harrison and Van Hoek, 2008). Elements of Logistics Management: Storage, warehousing, material handling. Packaging and utilization. Inventory. Transport. Information and control. Source: Lecture Slide 1, Logistics strategy M32 SOR. Aim Research the strategic position of Diageo Plc from a logistics context in order to develop a suitable logistics strategy. Objectives: Research analyse a UK based brewerys current strategic position from a logistics perspective. Evaluate the key strategic approaches to logistics management that could be used by a UK based brewery. Identify the management issues caused by implementing a new logistics strategy with consideration for available capital, technical and human resources Outline the strategic significance of new technology developments and business trends on future logistic strategies for a retailer. Prepare and submit the report Diageo Plc- Background Diageo Plc is the leading beer, spirits, and wine company in the world. The company has a well diversified portfolio of alcoholic beverages and stock brands such as Josà © Cuervo, Smirnoff, Captain Morgan, Johnnie Walker, Baileys, JB, Tanqueray, Bushmills Irish, Beaulieu Vineyard, Sterling Vineyards wines and Guinness (www.diageo.com). Diageo is listed both on the London Stock Exchange (DGE) as well as the New York stock Exchange (DEO). Diageo has a wide brand portfolio. The company strives to maintain its leadership position and provide value to the customer. Diageo has manufacturing plants spread across countries and continents including United Kingdom, Spain, Italy, India, Africa, Caribbean, United States of America and Australia.  The company had worldwide sales worth  £8.09 billion in the year 2008. It operates in 180 markets in five continents across the globe (www.diageo.com). Diageo Plc was created when two of the most established breweries- Guiness Plc and Grand Metropolitan Plc- merged to form the present company in 1997. The company was then reorganised in 2004 into three distinct strategic business divisions, namely, Diageo Europe, Diageo North America and Diageo International. In 2005, Diageo acquired the oldest distillery in Ireland called Bushmills Distillery. In 2006, the company expanded into Russia and got a majority stake in Smirnov vodka business (www.diageo.com). Logistics strategy: A logistics strategic framework is aimed at aligning the different partners of a supply chain in a manner so as to meet and match the customers evolving demands. The objectives of such a logistics strategic framework are: Capital reduction: It implies increasing the returns on investments made in logistics assets. Cost reduction: It is to minimiseoptimise the costs associated with storage and movement of goods and supplies. Improvement in Service: it involves processes so as to achieve customer satisfaction. Competitive Structure and Competitors The international drinks and beverages market has players, such as Pernod Ricard, Bacardi, Brown Forman Co-operation, Moet-Hennessey (LVMH), and Fortune Brands (Beam Global). Pernod Ricard is a Paris-based multinational company which in 2008, acquired a Swedish company, V S Group, the makers of Absolut vodka. Brown-Forman Co-operation is one of the largest USA-based manufacturers of alcoholic beverages. In 2007, it acquired a Mexican company, Tequila Herradura, to add tequila drinks to its portfolio (Business Insights, 2009) Bacardi, headquartered in Hamilton, Bermuda is well known for its brand of rums. It is a family-owned multinational company operating in over 100 countries. Moet-Hennessey is manufacturer of spirits under the Paris-based parent company, LVMH (the largest retailer of luxury goods in the world). Fortune Brands are America-based manufacturers of wines and spirits and acquired many brands from UK-based Allied Domecq in 2005 (Business Insights, 2009). Diageo: Strategic Positioning An understanding of Diageos overall strategic positioning can help us in designing a logistics management strategy. Evaluation of the overall strategy is a precursor to develop a concurrent logistics strategy aligned with the companys long term vision. Generic Strategies for Diageo using Ansoff Analysis C:UsersuserDesktoprohit gulatibreweryansoff.jpg As is evident from the Ansoff matrix, Diageo has the following strategies: Consolidation of its position and market penetration in mature markets such as USA and Europe where it is well established. It is doing so both by organic as well as inorganic growth strategies. It is looking at newer territories and emerging markets such as Africa and Asia for market development of its existing products. It is developing products in mature markets so as to increase the share of wallet of the consumer. An example is RTD or ready-to-drink beverages, such as Smirnoff Ready-to-Drink beverage. Porters Five Forces Model Michael Porter developed his Five Forces model in 1979 to help businesses understand competition in a more comprehensive manner. Diagrammatically, it can be represented as follows: Source: Johnson Scholes 6th ed, exhibit 3.4 The model, when applied to Diageo Plc, helps understand the company environment and competition as follows: Bargaining Power of Suppliers: this is low as Diageo is an established company with a large market share and strong brand name. To gain advantage over its suppliers, it enters into long term contracts. Bargaining Power of Buyers: this is low as Diageo now positions itself as a manufacturer of premium and super-premium spirits and other alcoholic beverages. The market share of premium and super-premium brands of Diageo increased by 4.5% and 11% respectively. Threat of Competitors: it is high as it has a few international competitors in the form of Pernod Ricard, Brown-Forman and Bacardi. Major mergers and acquisitions have occurred in the alcoholic beverage industry leading to fewer players with extended brand portfolios and cross-border capabilities. Threat of Substitutes: This is low as alcoholic beverages are a socially acceptable form of intoxication that is not acceptable with any other substance. Threat of New Entrants: it is low as entry barriers are high in the form of increased regulation, increasing need of marketing by beverage companies to inform customers and increasing competitive nature of the industry. Please refer to Appendix A for further reading on competitiveness. Development of Existing Logistics Capabilities The environment under which Diageo functions is dynamic and changing rapidly. The characteristics that define its environment that one needs to understand to develop the logistics strategy are as follows: Expectations of service levels are increasing Consumers are becoming more sophisticated. Government regulations are becoming more stringent Commodity price pressures and intense competition cause opposite effects on price, affecting margins. Logistics can be of immense value to a company if approached in a correct and definitive manner. Its importance for various businesses has now increased from merely a cost incurring but necessary function to: An activity to generate significant cost savings. An activity with the potential to increase sales and customer satisfaction. A marketing tool to gain sustainable competitive advantage. The costs incurred by Diageo can be broadly understood as follows: C:UsersuserDesktoprohit gulatibrewerycogs.jpg Source: Gosnell, Investor Relations Conference, 2005 The global supply and logistics strategy also includes people and processes which Diageo classifies as Partners for growth (Gosnell, Investro Relations Conference, 2005). These can be classified as follows: Key Enablers: These are associated with people, processes and attitudes such as collaboration, teamwork, responsiveness and capability development. Qualifiers: These include protecting brand as well as Diageo reputation through maintaining brand quality, brand integrity, corporate citizenship and other such means. It may also include the resolve of the company to deliver competitive service to the customer at the right value. Winners: these include processes to reduce end-to-end supply chain costs, overall costs, driving technology and research and ability to execute the strategy as expected. The various features of this strategy implemented by Diageo in inbound as well as outbound logistics and value creation are as follows: Reducing the overall cost of goods sold: Diageo has set a target of 2% real cost reduction each year. The philosophy here is that savings can come from all components of the supply chain such as procurement, logistics, manufacturing and brand value, each of which will be subsequently looked into. The large scale operations of Diageo provide it with an advantage in all these areas. Procurement: Glass and energy are two largest components of Diageos cost of goods. To control energy costs, it uses forward purchasing; spot purchasing as well as short term tactical purchasing. For glass supply assurance and price control, it entered a strategic relationship with Owens-Illinois and gave it the preferred supplier status. At the same time, it developed alternate supplier relations as well such as with Altajir, based in Europe, with which it entered a 3 to 5 year deal. Also, Diageo also leveraged newer supply sources from Asia and Eastern Europe as these emerging economies are reliable on quality, pricing, service and innovation. As an example, this has led to 40%-50% cost saving on cartons, 20% on crowns and 15%-20% on casings. Manufacturing: Diageo tries to maximise the benefits of economies of scale. It has larger but fewer manufacturing facilities, thus having high fixed costs but low variable costs. It has sold or closed 11 facilities in Europe, 5 in North America and 3 in Asia/Africa. In the rest of the manufacturing plants, it has tried to fully optimise the advantages of the Diageo scale; e.g.: Shieldhall, Scotland is the largest volume spirits packaging plant but still has only 7 lines. Logistics: Diageo uses the pilot principles involving a central hub warehouse that can supply to the surrounding markets. These warehouses are strategically located and use cross-border shipments to meet demand. This model also minimises costs by maximising throughput. This has led to 20% reduction in manpower requirements, 25% reduction in stock and enhanced service performance. An example of the pilot principles model in Europe for Diageo is as follows: C:UsersuserDesktoprohit gulatidIAGEO_brewery_3250warehouse.jpg Source: Gosnell, Investor Relations Conference, 2005 Brand Value and Value Engineering: An example of value engineering would be the Guinness can size that was reduced by 7%, weight reduced by 1% without loss of volume held. JW bottles glass weight was reduced by 22% as another example. This has led to reduction in packaging, hauling and shipping costs. Also, Diageo intends to create value for its customers while preserving its brand image. It intends to do so through Improving existing quality standards Implementing environmental management systems Crisis management simulations for business resilience Optimise supply flexibility Strategic Approaches to Logistics Management There are two motivations suggested for designing a logistics strategy (Whittington 1993). These included the goals of setting the logistics strategy and how deliberate the processes were of setting the logistics strategy. A matrix was hence developed and helped firms evaluate the logistics strategy. Benchmarking Diageo can utilise benchmarking to evaluate its logistics performance in comparison to its competitors or companies from different industries altogether. Benchmarking can be defined as a process of continuously measuring and comparing ones business performance against comparable processes in leading organizations to obtain information that will help the organization identify and implement improvements (Benson 1998). Benchmarking can also be understood as a process for identification of best practices by comparing key performance indicators for a specific activity across organisations and using these performance levels as inputs for corporate goal setting (Gourdin, 2001) Diageo can utilise this to compare its practices with respect to other companies, industries or markets. Benchmarking can be used in a variety of logistic processes such as warehouse operations, mode and carrier selection, order processing, forecasting and packaging. However, certain steps need to be ensured before em barking on benchmarking (Gourdin, 2001). These are as follows: Defining the present performance level of the benchmarked activity. Determining the level of performance desired in this activity to be benchmarked. Determining what improvements can be made and to be made Determining how to make the desired improvements to achieve desired performance levels. Estimate and set a time frame for the completion of the process. Collaboration/Co-operation Collaboration is the most sophisticated form of electronic integration. If electronic integration occurs at all levels, namely strategic, tactical and operational, it is called as collaboration. It helps the supply chain members to come together so as to better forecast future demand and to design plans and implement them to meet these demands. The members can collaborate on new product planning, demand forecasting and replenishment planning. Collaboration allows information to be rapidly exchanged and hence, all participants of the collaboration have access to updated and latest information. It can also help to reduce costs and the data fed into the system can be used for monitoring and feedback activities. The co-operative approach simply refers to the degree of external and internal collaboration among the supply chain members. Partnerships/Alliances Companies now realise the concept of strategic long term relationship with suppliers. The underlying reason for this realisation is the need to improve customer service or add value to the finished product. An alliance is said to be strategic when it is strategic in focus and also directly supports one of the partners distinctive core competencies (Grant et al, 2006). Partnerships not only help the members in sharing information, knowledge and experience but also aid in lowering the risks for any one player. Diageo, as motioned previously, has a long term partnership with Owen-Illinois, a USA-based glass manufacturing company. It has been accorded special supplier status and given a contract for 3 years. It has also increased the scale of Owen-Illinois. Diageo can forge similar partnerships with various other members of its supply chain. Just in time (JIT) A JIT-based program aims at ensuring that the right quantities are produced at the right time and reach the consumer at the right moment of need so that there is no waste. Waste has been defined in JIT programs as anything that does not add value to the end product. One unit more or less than needed is considered as waste. Total Quality Management is a concept whose principle is concurrent with those of JIT and both may need to be implemented simultaneously so as to add value to companys operations. A successful and functional JIT program, however, needs the following to be achieved by the company: Steady production Flexible resources No machine breakdowns Reliable suppliers High quality product/service Rapid machine set-ups Discipline to maintain every of the above functions running over a continuum Implementation of JIT For JIT to be successful in Diageo, adaptation of the JIT concepts in its environmental set up is essential. The main concepts of eliminating waste, quick changeovers, flexibility in resources and partnering with suppliers have to be realised and has been described as a two-stage process (Gourdin, 2001). Establish foundations (this refers to quality, low cost, minimum lead times, flexibility: these can be achieved through Total Quality Management, flexible and trained workforce, reduction in setup time and focus on design). Core Techniques (pull scheduling, multi-functional workforce, JIT purchasing). JIT is a volume and demand driven program. It requires a certain level of stable demand for it to be successful. It cannot be implemented in a business that has unique orders or low volumes of operation. Moreover, companies should strive to improve JIT systems as technology advances. Lean Management First introduced by Toyota Production Systems, lean management is a concept of reducing waste and non-value adding activities from the value chain. The main elements of lean management are small batch size production, pull creation and reduction in variability. It says that a pull is created when a customer demands a product and only that should lead to production, thus reducing stock wastes and large inventories or batch sizes. Two very important principles associated with lean management are kaizen (continuous improvement) and kaikaku (radical improvement). This encourages improvement in the processes on incremental as well as radical levels. Lean management helps in reducing lead times and reduce variability in demand, supply and manufacturing by standardisation of procedures. Value Chain Analysis: Source: Johnson et al, 2008 The concept of a value chain was developed by Michael Porter. He suggested that the functions in an organisation can be split into primary activities concerned with creation and delivery of product and service and supporting activities (Johnson et al, 2008). The value chain analysis helps the company identify its various components of the value chain and what are the activities at which value added can be increased. A fundamental value chain for Diageo can look like this: C:UsersuserDesktoprohit gulatibreweryvaluechain.jpg Issues relevant to the development of strategies Integration of logistics strategy with corporate and business level strategies is essential for success of all these strategic outlooks. Diageo has integrated logistics strategy with the overall corporate strategy to streamline procurement, manufacturing and delivery operations (Gosnell, 2005). It has helped Diageo become the largest player in the international alcohol beverage market. However, scope for further improvement always exists. A Step Model can be used by Diageo to develop and assess its logistics strategy and identify its strengths and loopholes. What Diageo must realise is that there are certain factors in the supply chain that are beyond the control of the company. Trying to manage such factors by the management can lead to waste creation and loss of value. These can include increased competitive pricing and product pressures, unanticipated actions by competitors that can dent Diageos market share or size, legal and regulatory changes and many others. Management Issues Caused by Implementing Newer Strategies New strategy implementation can directly affect the capital, technical and human resources of a company. Good leadership during change as well as effective communication can help implement the change in an efficient manner. During implementation and modification of logistics strategy, due importance should be given to HR management and other organisational issues. Ignorance of HR issues is the most common, yet often ignored cause of failure to implement changes in strategy, even when they denote improvement over previous processes. These issues such as recruitment, training and appraisal, autonomy, flexibility and reward systems are important factors to be taken into consideration to enable smoother transitions. Specific to logistics, the management should review the current staffing and skills, allocation and training of staff, as well as current recruitment criteria and procedures. It should also consider the impact of market pull and technological push on the strategy design and p lan. Likewise, operational issues have to be monitored and requirements in terms of people, capital and equipment resources have to be met. These are necessary for any new tactically significant operations the company plans to undertake. Force field analysis can also be used to help stakeholders accept the change and understand the requirements, implications and resistances to the change in strategy. The model also suggests that there are two forces primarily in the business field, namely, driving force and resistance force. The management should strive to increase the strength of the former and reduce that of the latter while implementing change. Collaboration can play a significant role in the implementation of change. This is so because the companys suppliers and customers are also stakeholders in the company and can resist change. Internal collaboration, intercompany collaboration and electronic collaboration should be implemented while keeping in mind the ECR (efficient consumer response). New Technology Implementation and Future Trends in Logistics Strategy Diageo, due to its international and cross border supply chain should now focus on localised supply chains and distribution systems. This can help reduce haulage and shipping costs. Employment of low cost communications and cost computing technologies can aid in this endeavour and also help in increasing capability to extend product variety. Diageo has to be agile and flexible to incorporate these and any such positive technological advances. This can lead to increased pressure on cost-efficient, strategically beneficial logistics management due to increasing competition. As a result, increased pressures may be felt on supply chain networks viz. replenishment ordering, continuous ordering and supply flows, cross docking and stockless warehousing with product tracking (Harrison, Van Hoek, 2008). Scenario planning is a simulation attempt to generate realistic and plausible situations of the industry. Diageo can use it to simulate various market conditions, future situations and competitor capabilities. Such an uncertainty-based scenario matrix is highle effective in evaluation-based planning over the medium and long term. RFID Radio frequency Identification is used by Diageo wherever plausible. However, Diageo should try and implement the technology in all markets for more efficient product tracking, demand tracking and supply chain flexibility. It also helps in rapidly collecting data about demand levels and consumption patterns in various markets. RFID is a wireless technology that uses radio signalling for electronic identification and object labelling (Harrison, Von Hoek, 2008). This system works in alignment to the organisations information systems. This helps in improving business processes such as supply chain management while relaying significant market data. RFID systems primarily consist of three components: Transponders: These are also called as contactless data carriers or Tags. They can carry information data feeded into them and identify objects to which they are attached. Readers: These devices communicate with the RFID tags and read the information stored in them. Software Applications: These are the applications that feed and retrieve the data from a tag via the readers. RFID vs. Barcodes RFID are a technological advancement over barcode. The RFID tags can store as much information as a barcode can and sometimes more. Information carried by barcodes cannot be edited. In case of RFID tags information can be edited or updated. Moreover, this function can be repeatedly performed without any loss of data or damage to tags memory. The security systems inbuilt in the RFID systems are also better as it uses tags uses authentication and encrypted data transfer methods. ERP Baheshti, 2006 defined an ERP system as a collection of business applications, which links various business units of an organisation such as financial, accounting, manufacturing, sales and marketing and human resources into a tightly integrated single system with a common platform for streamlined flow of information across the entire business. Reengineering of companies is facilitated through ERP systems so that they are in a better position to empower employees, satisfy needs and demands of the customers and create better business value (Willis and Willis-Brown, 2002) ERP systems helps create reenergized companies that are in a position to better serve customers, empower employees, and drive greater business value (Willis and Willis-Brown, 2002). Since Diageo has three separate business units catering to different geographical regions, the task of collecting and analysing data is a daunting one at Diageo. ERP system can integrate these data flows across all the business units and their various divisions so as to better understand the industry events and design and/or modify strategy accordingly. It can thus act as a competitive advantage to the company in the long run by better understanding of the international market place and varied needs and requirements of the consumers across borders. This can thus help in driving Diageos overall operational efficiency and functional effectiveness. References: Presentation by David Gosnell, Managing Director, Diageo Global Supply, Investor Relations Conference, November 2005 Business Insights, The Top 10 Spirits Companies: Industry Trends and Growth Strategies of Leading Players, April 2009 Presentation by Stuart Fletcher, President, Diageo International, April 2009 Baheshti, H. M. (2006) What Managers Should Know About ERP/ERPII: Management Research News. Vol. 29(4) [online] available from Fenn, D. (2005) 10 edn. Key Note. Hampton: Key Note Ltd Gourdin, k. (2001) Global Logistics Management. Oxford: Blackwell Grant, D., Lambert, D., Stock, J., Ellram, L. (2006) Fundamentals of logistics Management. Berkshire: McGraw Hill Education Harrison, A., Van Hoek, A. (2008) 3 edn. Logistics Management and Strategy. Essex: Pearson Education Johnson, G., Scholes, K. and Whittington, R. (2008) 8th edn. Exploring Corporate Strategy. England: Pearson Education Rushton, A., Croucher, P., Baker, P. (2006) 3 edn. The Handbook of Logistics and Distribution Management. London: Kogan Willis, H. Willis-Brown, H. A. (2002) Extending the value of ERP: Journal of Industrial Management Data Systems, [online] Available from www.diageo.com.