Production System

Creation frameworks What is a creation framework? A clothing creation framework is a mix of material taking care of creation procedure, staff and the gear that coordinates work process and creates completed items. Various sorts of creation frameworks are †¢ Progressive group framework †¢ Unit creation framework †¢ Modular creation framework Each framework requires a suitable administration reasoning, materials dealing with strategies, floor format, and Employee preparing. Firms may join or adjust these frameworks to meet their particular creation needs.Firms may utilize just a single framework, a blend of frameworks for one Product line, or various frameworks for various product offerings in a similar plant. Dynamic Bundle System The dynamic pack framework (PBS) gets its name from the groups of article of clothing parts that are moved consecutively from activity to activity. This framework, regularly alluded to as the conventional creation framework, has been broadly u tilized by clothing makers for a very long while and still is today. The master says that utilization of group frameworks would diminish as firms look for greater adaptability in their creation frameworks [pic]Work stream in dynamic pack framework Bundles comprise of piece of clothing parts expected to finish a particular activity or article of clothing segment. For instance, an activity group for pocket setting may incorporate shirt fronts and pockets that are to be joined. Pack sizes may go from two to a hundred sections. A few firms work with a standard pack size, while different firms fluctuate group sizes as per cutting requests, texture concealing, size of the pieces in the group, and the activity that will be finished. Groups are amassed in the cutting room where cut parts are coordinated with comparing parts and pack tickets.Bundles of slice parts are moved to the sewing room and given to the administrator planned to finish the activity. One administrator is relied upon to p lay out a similar procedure on all the pieces in the pack, retie the group, process coupon, and put it aside until it is gotten and moved to the following activity. A dynamic pack framework may require a high volume of work in process reason for the quantity of units in the groups and the huge cradle of reinforcement that is expected to guarantee a constant work stream for all administrators. [pic] The dynamic pack systemThe dynamic group framework might be utilized with an aptitude community or line format contingent upon the request that packs are progressed through creation. Each style may have distinctive handling necessities and in this manner diverse directing. Steering recognizes fundamental tasks, arrangement of creation, and the aptitude communities where those activities are to be performed. A few activities are basic to numerous styles, and at those tasks, work may develop standing by to be handled. Favorable circumstances and hindrances of utilizing dynamic pack framewor k AdvantagesThe achievement of a group framework may rely upon how the framework is set up and utilized in a plant. This framework may permit better usage of particular machines, as yield from one specific reason robotized machine might have the option to gracefully a few administrators for the following activity. Little packages permit quicker throughput except if there are bottlenecks and broad holding up between activities. Inconveniences: The dynamic group framework is driven by cost effectiveness for singular tasks. Administrators play out a similar procedure on a proceeding with premise, which permits them to speed up and productivity.Operators who are remunerated by piece rates become amazingly proficient at one activity and may not be happy to get familiar with another activity since it decreases their effectiveness and profit. Singular administrators that work in a dynamic group framework are autonomous of different administrators and the last item. Slow preparing, truancy, and gear disappointment may likewise cause significant bottlenecks inside the framework. Enormous amounts of work in process are frequently normal for this sort of creation system.This may prompt longer throughput time, low quality covered by packs, huge stock, additional dealing with, and trouble in controlling stock Unit creation framework A unit creation framework (UPS) is a kind of line design that utilizes an overhead transporter framework to move piece of clothing segments from work station to work station for Assembly [pic] Work stream of unit creation All the parts for a solitary article of clothing are progressed through the creation line together by methods for a hanging bearer that movements along an overhead conveyor.The overhead rail framework comprises of the fundamental transport and gathering rails for each work station. The overhead transport works a lot of like a railroad track. Transporters are moved along the principle transport and changed to a collecting rail at the work station where an activity is to be performed. Toward the fruition of an activity the administrator presses a catch, and the bearer proceeds onward to the following activity. Most unit creation frameworks are connected to a PC control focus that courses and tracks creation and gives expert information for the executives choices. The utomatic control of work process sorts work, balances the line, and lessens cases of bias in group circulation. Electronic information assortment gives finance and stock information, quick following of styles, and costing and execution information for brief choices. Handling starts at an arranging zone in the sewing room. Cut parts for one unit of a solitary style are assembled and stacked straightforwardly from the organizing zone to a hanging transporter. Stacking is deliberately arranged so negligible dealing with is required to convey piece of clothing parts in decisively the request and way that they will be sewn.When potential, activitie s are finished without expelling the parts from the bearer. Shifted sizes and sorts of hanging bearers are accessible for various kinds of items. Mechanized materials dealing with replaces the conventional arrangement of packaging, tying and unfastening, and physically moving article of clothing parts. Unit creation frameworks wipe out a large portion of the lifting and going expected to deal with groups and piece of clothing parts. The requirement for pack tickets and handling administrator coupons is likewise disposed of when a coordinated PC framework screens crafted by each operator.Individual standardized identifications or electronic gadgets are inserted in the transporters and read by a standardized tag scanner at every workstation and control focuses. Any information that are required for arranging and preparing, for example, style number, shading shade, and part can be incorporated. Coordinated frameworks have on-line terminals situated at each work station to gather inform ation on every activity. Every administrator may progress finished units, reroute units that need fix or handling to an alternate station, and check their efficiencies and profit Operator may flag for more stock or require a director if help is needed.The terminals at each station empowers focal control community to follow every unit at some random second and give the executives information to settle on prompt choices on steering and planning. Administrators of the UPS control focus can decide groupings of requests and hues to keep administrators provided with work and to limit change in gear, tasks, and string hues. A unit creation framework can control numerous courses and synchronous creation of different styles without rebuilding creation lines. The control place may perform directing and programmed adjusting of work process, which decreases bottlenecks and work stoppages.Each administrator just as the control community can screen singular work history. singular unit, number of units finished, the administrator who took a shot at every unit, and the piece rate earned for every unit. The framework will compute the profit every hour, of the day, and the effectiveness pace of every administrator. Favorable circumstances: Benefits of a unit creation framework rely upon how a framework is utilized and the viability of the board. Throughput time in the sewing room can be radically decreased when contrasted with the dynamic group framework since works in process levels are reduced.Operator profitability increments. Direct work costs are decreased in view of propositioned parts in the transporters and disposal of group preparing. Roundabout work expenses might be diminished by end of group dealing with and requiring less administrators. Quality is improved due to responsibility everything being equal and prompt perceivability of issues that are not, at this point disguised in groups for expanded timeframes. The focal control framework makes it conceivable to quick ly follow a quality issue to the administrator that finished the operation.Other benefits that are acknowledged are improved participation and representative turnover and diminished space use. Impediments: Considerations for introducing an UPS incorporate expenses of purchasing gear, cost of introducing, specific preparing for the framework, and avoidance of personal time. Down time is a potential issue with any of the frameworks, yet the low work in process that is kept up makes UPS particularly helpless. Measured Production System A secluded creation framework is a contained, reasonable work unit that incorporates an engaged work group, hardware, and work to be executed.Modules much of the time work as minifactories with groups liable for bunch objectives and self-administration. The quantity of groups in a plant shifts with the size and needs of the firm and product offering. Groups can have a specialty work as long as there are orders for that sort of item, yet the achievement o f this kind of activity is in the adaptability of having the option to deliver a wide assortment of items in little amounts. The quantities of workers in a group, generally 4 to 15, shift with the item blend. A general dependable guideline is to decide the normal number of activities required for a style being delivered and partition by three.Team individuals broadly educated and tradable among assignments inside the gathering. Motivating force remuneration depends on bunch pay and rewards for meeting group objectives for outpu

What is the federal governments single greatest r Essay Example For Students

What is the governments single most noteworthy r Essay esponsibilityto the public?In my supposition the government has manyresponsibilities to people in general, however above all is itspledge of security to the general population. At the point when I state insurance, I meannot just from military assaults from different nations, butby providing assets for all the necessities of the residents. As thepopulation in the U.S. increments and administrative finances decline, thegovernment will in general overlook the entirety of the little individuals who electedthe government officials into office. The individuals to whom I am referringare the ranchers and entrepreneurs, who depend on thegovernments backing to ensure their ventures. As shippingand global cash trade has gotten simpler and faster,the capacity for entrepreneurs or ranchers to sell theirgoods have on the other hand gotten more earnestly. I accept that it is thegocernments duty to guarantee that these individuals do notstruggle to acquire a living. Bills, for example, exchange limi tations, etcare made so these individuals can acquire a living. We will compose a custom paper on What is the national governments single most prominent r explicitly for you for just $16.38 $13.9/page Request now Another kind of assurance that the administration should provideabundantly is help to the littler governments, for example, state orcity workplaces. I feel this is generally significant in wrongdoing ridden,overpopulated urban communities, for example, New York or Los Angeles. These arethe extraordinary vacation spots in America, however they dont receivethe acknowledgment that they merit from the administration. Withoutgovernment reserves, these urban communities dont have enough cash forupkeeping and permit their pictures to become discolored. This willcause a domino impact in light of the fact that less voyagers will need to visitAmerica. Less the travel industry implies that these urban areas have less revenuesand less significance to the legislature. Less significance implies thatthey will get even less guide. Such an impact will demolish anybright spots which despite everything are in the U.S. General society made the U.S. government to guarantee that therewill consistently be a savvy and reasonable pioneer for America. This gave usthe capacity to place somebody into office, who fits the requirements of thecountry, at present time. This individual embraces the soleresponsibility to guarantee the government assistance of every one of his kin. Thegovernments duties are extraordinary, yet with a littlecontrol and cautious arranging, all can be practiced.

Social Anxiety and Hierarchies

Social Anxiety and Hierarchies Social Anxiety Disorder Treatment and Therapy Print Social Anxiety Hierarchies A Pivotal Part of Behavior Therapy By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Updated on April 06, 2019 Social Anxiety Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Siri Berting/Blend Images/Getty Images Social anxiety can be a debilitating condition, impacting your social life, family, and career. Depending on your form of anxiety, you may be nervous in all social situations or may only be triggered by very specific occasions. Social anxiety hierarchies are an ordered list of situations that trigger anxiety from least to most anxiety-inducing triggers. This process is an essential part of behavioral therapy.   Anxiety hierarchies help you verbalize the situation that frightens you in specific terms, such as the exact settings, number of people around you or your role. By breaking the situation down into steps, you can see exactly what portions of social settings make you nervous. The different stages give you a process of confronting your fears in a gradual and safe manner.   Determining Your Anxiety Hierarchy To determine your anxiety hierarchy, your therapist will work with you to establish a list based on situations that make you anxious. The most disturbing situation is placed on the bottom, the least disturbing at the top.   Once the list is determined, your healthcare provider will help you work through the list step by step until you reach the final stage.   Below is an example hierarchy for someone with social anxiety who gets nervous mingling at parties: Taking part in a one on one conversation with a friendEngaging in a one on one conversation with a casual acquaintanceEntering into a one on one conversation with an unknown personSmiling at people you dont know at a partyTalking with one person you dont know at a partyEngaging in a conversation with three friends at a partyJoining a conversation with unknown people at a partyEntering a party or event where you dont know anyone Desensitization and Social Anxiety Hierarchy Desensitization therapy aims to remove fear from your anxiety-inducing situations  and replacing that fear with relaxation techniques to obtain a calm and rational response. There are three parts of the desensitization process: Relaxation: Your healthcare provider will help you with relaxation techniques and breathing exercises to help you manage your nervousnessHierarchy: You will create an anxiety hierarchy based on your unique fears and situationPractice: Your therapist will help you work your way down the anxiety hierarchy, starting at the easiest item and working slowly through each step of the hierarchy until you can face the final and most anxiety-inducing step.   Its important to not rush through this process. For people who are eager to stop their social anxiety, they often rush through the steps and will end up actually harming their treatment. By working slowly through the process, you can ensure that you are truly comfortable and relaxed. If going to the next stage induces anxiety, you can return to a lesser step in order to build on your relaxation training.   Your therapist may recommend that you only go through the hierarchy during therapy situations so your healthcare provider can ensure you are safe and comfortable throughout the process. The number of sessions it takes to work through the hierarchy varies from person to person. Some phobias can be conquered in as little as four to six sessions; more severe cases will need several months of therapy.   Find Help With the 7 Best Online Anxiety Support Groups

Biography of Louis Farrakhan, Nation of Islam Leader

Minister  Louis Farrakhan (born May 11, 1933) is one of the most controversial public figures in the United States. While scandal has brought down a number of leaders, Farrakhan has managed to remain a somewhat influential force in American politics, race relations, and religion. Learn more about the life of the Nation of Islam leader and how he’s remained relevant in an increasingly divided America. Fast Facts: Louis Farrakhan Known For: Civil rights activist, minister, leader of the Nation of Islam (1977–present)Born: May 11, 1933 in the Bronx, New York CityParents: Sarah Mae Manning (Mae) and Percival ClarkeEducation: Winston-Salem State University, The English High SchoolPublished Works: A Torchlight for AmericaSpouse: KhadijahChildren: 9 Early Years Like so many notable Americans, Louis Farrakhan grew up in an immigrant family. He was born on May 11, 1933, in the Bronx, New York City.  Both of his parents immigrated to the United States from the Caribbean. His mother Sarah Mae Manning came from the island of St. Kitts, while his father Percival Clark was from Jamaica. In 1996, Farrakhan said his father, who reportedly had Portuguese heritage, may have been Jewish. Scholar and historian Henry Louis Gates called Farrakhan’s claim credible, since Iberians in Jamaica tend to have Sephardic Jewish ancestry. Because the Jewish community has often accused Farrakhan of being an anti-Semite, his claims about his father’s ancestry are remarkable, if true. Farrakhan’s birth name, Louis Eugene Walcott, reveals the discord in his parents’ relationship. Farrakhan said his father’s philandering had driven his mother into the arms of a man named Louis Wolcott, with whom she had a child and for whom she converted to Islam. She planned to start a new life with Wolcott, but briefly reconciled with Clark, resulting in an unplanned pregnancy. Manning repeatedly tried to abort the pregnancy, according to Farrakhan, but eventually gave up on termination. When the child arrived, with light skin and curly, auburn hair, Wolcott knew the baby wasn’t his and he left Manning. That didn’t stop her from naming the child â€Å"Louis† after him. But Farrakhan’s real father didn’t play an active role in his life either, he said. His mother remained a stable influence. A music lover, she exposed him to the violin. He didn’t immediately take interest in the instrument. â€Å"I [eventually] fell in love with the instrument,† he recalled, â€Å"and I was driving her crazy because now I would go in the bathroom to practice because it had a sound like you’re in a studio and so people couldn’t get in the bathroom because Louis was in the bathroom practicing.† He said that by age 12, he played well enough to perform  with the Boston civic symphony, the Boston College orchestra, and its glee club. In addition to playing the violin, Farrakhan sang well. In 1954, using the name â€Å"The Charmer,† he even recorded the hit single â€Å"Back to Back, Belly to Belly,† a cover of  Ã¢â‚¬Å"Jumbie Jamboree.† A year before the recording, Farrakhan married his wife Khadijah.  They went on to have nine children together. Nation of Islam The musically inclined Farrakhan managed to use his talents  in the service of Nation of Islam. While performing, he attended a meeting of the group, which Elijah Muhammad started in 1930 in Detroit. As a leader, Muhammad sought a separate state for African-Americans and endorsed racial segregation. Prominent NOI leader Malcolm X persuaded Farrakhan to join the group. Farrakhan did just that, only a year after recording his hit single. Initially, Farrakhan was known as Louis X and he wrote the song â€Å"A White Man’s Heaven Is a Black Man’s Hell† for the Nation. Eventually, Muhammad gave Farrakhan the surname he’s famous for today. Farrakhan rapidly rose through the ranks of the group. He assisted Malcolm X at the group’s Boston mosque and assumed his superior’s role when Malcolm left Boston to preach in Harlem. Malcolm X In 1964, ongoing tensions with Muhammad led Malcolm X to leave the Nation. After his departure, Farrakhan essentially took his place, deepening his relationship with Muhammad. In contrast, Farrakhan and Malcolm X’s relationship grew strained when the latter criticized the group and its leader. Specifically, Malcolm X told the world that Mohammad had fathered children with many of his teenage secretaries. Malcolm X considered him a hypocrite since NOI preached against extramarital sex.  But Farrakhan considered Malcolm X a traitor for divulging this news to the public. Two months before Malcolm’s assassination in Harlem’s Audubon Ballroom on Feb. 21, 1965, Farrakhan said of him, â€Å"such a man is worthy of death.† When police arrested three NOI members for assassinating 39-year-old Malcolm X, many wondered if Farrakhan played a role in the murder. Farrakhan admitted that his harsh words about Malcolm X likely  Ã¢â‚¬Å"helped create the atmosphere† for the killing. â€Å"I may have been complicit in words that I spoke leading up to February 21,† Farrakhan told Malcolm X’s daughter Atallah Shabazz and  Ã¢â‚¬Å"60 Minutes† correspondent Mike Wallace in 2000. â€Å"I acknowledge that and regret that any word that I have said caused the loss of life of a human being.† A 6-year-old Shabazz saw the shooting, along with her siblings and mother. She thanked Farrakhan for taking some responsibility but said she did not forgive him. â€Å"He’s never admitted this before publicly,†Ã‚  she said.  Ã¢â‚¬Å"Until now, he’s never caressed my father’s children. I thank him for acknowledging his culpability and I wish him peace.† Malcolm X’s widow, the late Betty Shabazz, had accused Farrakhan of having a hand in the assassination. She seemingly made amends with him in 1994, when her daughter Qubilah faced charges, later dropped, for an alleged plot to kill him. NOI Splinter Group Eleven years after Malcolm X’s killing, Elijah Muhammad died. It was 1975, and the group’s future appeared uncertain. Muhammad had left his son Warith Deen Mohammad in charge. The younger Muhammad wanted to turn NOI into a more conventionally Muslim group called the American Muslim Mission. (Malcolm X had also embraced traditional Islam after leaving the NOI.) Warith  Deen Mohammad  also rejected his father’s separatist teachings. But Farrakhan disagreed with this vision and left the group to start a version of NOI that aligned with Elijah Muhammad’s philosophy. He also started The Final Call newspaper to publicize his group’s beliefs. Farrakhan got involved with politics as well. Previously, NOI told members to refrain from political involvement, but Farrakhan decided to endorse the Rev. Jesse Jackson’s 1984 bid for president. Both the NOI and Jackson’s civil rights group, Operation PUSH, were based on Chicago’s South Side. Fruit of Islam, part  of NOI,  even guarded Jackson during his campaign. Jesse Jackson â€Å"I believe that Rev. Jackson’s candidacy has lifted the seal forever from the thinking of black people, particularly black youth,† Farrakhan said. â€Å"Never again will our youth think that all they can be is singers and dancers, musicians and football players and sportsmen. But through Reverend Jackson, we see that we can be theoreticians, scientists, and whatnot. For that one thing he did alone, he would have my vote. Jackson, however, didn’t win his presidential bid in 1984 or in 1988. He  derailed his  first campaign when he referred to Jews as â€Å"Hymies† and New York City as â€Å"Hymietown,† both anti-Semitic terms, during an interview with a black Washington Post reporter. A wave of protests ensued. Initially, Jackson denied the remarks. Then he changed his tune and accused Jews of trying to sink his campaign. He later admitted making the comments and asked the Jewish community to forgive him. But he refused to part ways with Farrakhan. Farrakhan tried to defend his friend by going on the radio and threatening both the Post reporter, Milton Coleman, and Jews about their treatment of Jackson. â€Å"If you harm this brother [Jackson], it will be the last one you harm,† he said. Farrakhan reportedly called Coleman a traitor and told the African-American community to shun him. The NOI leader also faced accusations of threatening Coleman’s life. â€Å"One day soon we will punish you with death,† Farrakhan remarked. Afterward, he denied threatening Coleman. Million Man March Although Farrakhan has long faced accusations of anti-Semitism and has criticized black civic groups such as the NAACP, he’s managed to stay relevant in a changing America. On Oct. 16, 1995, for example, he organized the historic Million Man March on the National Mall in Washington, D.C. Civil rights leaders, including Rosa Parks, Jackson, and Shabazz, gathered at the event designed for young African-American men to ponder the pressing issues affecting the black community. According to some estimates, about a half-million people turned out for the march. Other estimates report a crowd as large as 2 million. In any case, there’s no doubt that a massive crowd gathered for the occasion, an impressive achievement for any organizer. The Nation of Islam’s website points out that the march challenged stereotypes of African-American men: â€Å"The world did not see thieves, criminals, and savages as usually portrayed through mainstream music, movies and other forms of media; on that day, the world saw a vastly different picture of the Black man in America. The world saw Black men demonstrating the willingness to shoulder the responsibility of improving themselves and the community. There was neither one fight nor one arrest that day. There was no smoking or drinking. The Washington Mall, where the March was held, was left as clean as it was found.† Farrakhan later organized the 2000 Million Family March. And 20 years after the Million Man March, he commemorated the landmark event. Later Years Farrakhan earned praise for the Million Man March, but just a year later he sparked controversy again. In 1996, he visited  Libya. The Libyan ruler at the time, Muammar al-Qaddafi, made a donation  to the Nation of Islam, but the federal government didn’t let Farrakhan accept the gift. Despite such incidents and a long list of inflammatory remarks, Farrakhan has won the support of  people in and outside of the black community. They applaud  NOI  for fighting against social injustice, advocating for education, and pushing back against gang violence, among other issues. The Rev. Michael L. Pfleger, a white Roman Catholic priest with a parish on Chicagos South Side, is an example. He called Farrakhan his closest adviser. â€Å"I’ve lost friends and I’ve lost support—I’ve been disinvited from places—because of my relationship with Farrakhan,† the priest told the New Yorker in 2016. But he added, I’d take a bullet for  [him and others] any day of the week.† Meanwhile, Farrakhan  continues to generate publicity for his cutting comments. Shortly after President Donald Trumps inauguration,  he called the United States  the most rotten nation on Earth. On May 2, 2019, Farrakhan was banned from Facebook and Instagram for violations of Facebook’s policies against hate speech. Sources Blow, Charles M. Million Man March, 20 Years On. New York Times, Oct. 11, 2015Bromwich, Jonah Engel. Why Louis Farrakhan Is Back in the News. New York Times, March 9, 2018.  Farrakhan, Louis, and Henry Louis Gates. Farrakhan Speaks. Transition.70 (1996): 140–67. Print.Gardell, Mattias. In the Name of Elijah Muhammad: Louis Farrakhan and the Nation of Islam. Durham, North Carolina: Duke University Press, 1996.Honorable Minister Louis Farrakhan. Nation of Islam.  Louis Farrakhan banned from Facebook over policies on violence, hate. Chicago Sun Times May 2, 2019.McPhail, Mark Lawrence. Passionate Intensity: Louis Farrakhan and the Fallacies of Racial Reasoning. Quarterly Journal of Speech 84.4 (1998): 416–29.

Analysis Of Snow s Midsummer By Guan Hanqing

Michel de Polignac ANALYSIS PAPER 1: Retributive justice is a very common element found not only in literature but in almost all text that tries to evoke moral values. A nemetic ending is often used to provide the reader or spectator the satisfaction of seeing the hero be rewarded for his or her virtuous actions. Alternatively, the evil or malicious characters are usually punished thanks to the hero s actions and thus brings a somewhat â€Å"happy ending† to the conflict. Many authors and playwrights would mostly hesitate to bring an unpleasant end to their stories so that the audience may leave their seats with a more positive outlook on the play. Nevertheless, it might be debatable if a standardized nemetic ending would transmit a more poignant message to the spectators, numerous plays that do not follow this norm are well known to have a very similar, if not equal, impact. To illustrate this tactic, we will mostly focus on the ending of â€Å"Snow in Midsummer† by Guan Hanqing that ma y end in a slightly ambiguous note rather than directly rewarding our hero Dou Er. Henceforth, we will also look over the case of Oedipus the King by Sophocles, that challenges the ideal retributive justice at the end of the play. We, as spectators, have a desire to connect with the characters and the issues they try to get through, as long as the heroes remain praiseworthy and villains fall and get defeated. In the case of â€Å"Snow in Midsummer† we may notice a somewhat paradoxical view on

Managing a Business Free Essays

Management is an art or practice of managing (especially a business or money. According to behavioral theories of management the traditional notion of Management is planing, organizing, leading and controlling. We have chosen Hong Kong and Shanghai Bank (HSBC) to explain these management concepts. We will write a custom essay sample on Managing a Business or any similar topic only for you Order Now PLANNING: Planning is an important management function that has to be carried out in an organization as it helps in determining the organizational goals and to create an action plan to carry it out. PLANNING PROCESS: Every department’s manager is responsible for preparing its own plans of action to carry out their tasks in the most efficient manner. These plans of action can also be termed as tactical plans as they are designed to help execute major strategic plans along with helping the organization to achieve its overall goals. SHORT-TERM AND LONG-TERM PLANNING: The manager undertakes both short-term planning as well as long-term planning. The bank stresses on the departments to lay greater emphasis on short-term goals so that the bank sees at least the short-term results of each department and, therefore, the progress of the departments. While preparing its plans, each department takes into consideration the resources, capital and human both, available to the department and the budget that is available to the department for each of the products. The manager also plans for the existing product line as well as the new products that are recently launched in the market. Lastly, the manager also plans for the targeted volume of each product. After the plan has been devised taking into account all the above factors, the plan is sent to the Central Planning Department, which is centralized. The Central Planning Department is a group of planning specialists who then prepares the overall future plan for the bank and submits it to the Finance Department. At the same time, monthly meetings are held in which all the heads of various departments and the Board of Directors get together to review budget vs. variances, profit and loss accounts, cash flows, inventory level, etc. of each department and then the marketing department, for example, will have to come up with a new plan to overcame the shortcomings as pointed out by the Board of Directors. STRATEGIES Strategy formulation is an important part of planning which the department also undertakes. There are various strategies and methods used by the departments to undertake their plans. PRICING STRATEGY: One of the strategies that it uses is the Pricing Strategy. In this strategy, they look at the current prices in the market and then plan accordingly and then project the new prices which will prove to be more profitable than the old prices. Note: While we are talking about the pricing then we mean the prices of the products that the banks are offering and the price itself is the interest rate being offered.   COST BASED PRICING STRATEGY: The other strategy used by the departments is Cost Based Pricing Strategy. The department’s sets the products prices by looking at the components those make up their price, that is, its imagery, cost and profit. The department always tries to set the price, which is lower than the competitors and brings in positive cash flow. So, it tries to produce the products at the lowest possible cost by investing more money into RD so that it could increase its profit margin further. OTHER STRATEGIES: Other strategies used are market research, which is conducted on a small basis but is very important for the Marketing Department. And as their focus is on corporate clients, the carry out corporate surveys and interviews with their customers, which adds a personal touch and results in, increased sales. Focus groups and questionnaires are also sometimes distributed to get responses from the customers. Sampling is another strategy used by the department in which they give sample products to various houses which they choose randomly and the results are then verified by the sales and marketing team carrying out the research. ORGANIZING: Organizing is the next important function of management which is the assignment of resources available to the company to different tasks in order to achieve the strategic goals. ORGANIZATIONAL STRUCTURE: Like every other company HSBC has also been established as a separate legal entity having its own managing director and a team of professionals to head each department. As evident from the organizational structure of the company, the company has a formal structure i.e. it is official and planned and has deliberately planned structure of roles within the organization. It follows the organic style of management where authority is based on expertise rather than hierarchy and, therefore, believes in participative decision making in which employees working in all levels of the company are involved. Decision making power is delegated up to the level of middle management. The company believes in the philosophy that â€Å"To get the job done most efficiently, people doing the job should essentially be indecision making†.  All the decisions, whether small or minor, are made at the top levels in the company’s hierarchy. Therefore, HSBC is a centralized company in the sense that only the department heads and the managing director is involved in decision making. MARKETING DEPARTMENT’S STRUCTURE: In the Marketing Department, the authority to make decisions is vested in the Marketing Director, who makes all the decisions for his department and then delegate’s authority and responsibility to their subordinates. The sales team collects information like the sales figure currently in the market, information about the competitors, etc. and is handed over to the Marketing Director who then makes the final decision based on the available information. There are assistant brand managers working under the brand managers who are sometimes asked to give suggestions if a decision requires information related to a task which is directly handled by them. HSBC follows the concept of line authority as the people in the management positions such as the research division manager has the power to control and direct the immediate employees which in this case are the field investigators. LEADING: HSBC believes that leadership is an art or process of influencing people so that they perform assigned tasks willingly and in an efficient and effective manner. The marketing director, therefore, thinks that leadership is crucial in motivating and inspiring the workforce. MOTIVATORS: The company uses only two ways of regarding the employees: either by increasing the salary or prompting the employees if possible. The company strictly adheres to the policy of promotion from within. Job enrichment provided by HSBC is almost negligible which limits the scope of jobs for the employees because of which employees leave the company for better job offers elsewhere. HSBC does provide a good working environment to its employees and there are large numbers of female employees working in the company. There is high employee turnover in HSBC because of the few opportunities of progressing that the company provides to their employees because of which none of the employees stay with the company for a long time. CONTROLLING: Controlling which is the fourth function of management is effectively practiced in HSBC. The director of the Human Resource Department monitors employees’ activities, keeps the departments on track towards achieving the goals and makes corrections as needed. These are the basic functions of controlling which are used in this department. CONTROL METHODS: Regular meetings are held to check the progress of the employees and then make amendments as needed. Marketing and sales teams are sent for national visits to places and when they come back, they have to report to the marketing director in way of both formal and informal reports The director then sees the results of the visit whether there was an increase in sales or not and therefore, make corrections like to change the sales team in the next visit, etc. These, therefore, train the employees in the practical aspects of the job which prove to be beneficial for the company. Reference Courtland L. Bovee, John Thill, (2004), Business in Action, 3rd Ed. Christopher Kingsley (1993), A trainer’s primer: Advice to the novice trainer about the basics of organizing, planning, and leading an effective training seminar (Technical assistance training publication series) Sandy Schuman (2005), The IAF Handbook of Group Facilitation: Best Practices from the Leading Organization Luis Martin Diaz (2006), Evaluation of Cooperative Planning in Supply Chains David A. Baldwin, Frances C. Wilkinson, and Daniel C. Barkley (2000), Effective Management of Student Employment. Rohan Wickremasinghe – (Daily News May 3, 2001), Management Consultant,  Ã‚   President of Institute of Development How to cite Managing a Business, Essay examples

The Securities and Commodities Authority (SCA)

Description of Company The securities and Commodities Authority, popularly known as SCA, was established following a presidential decree on January 2000 with the mandate to monitor and supervise the securities market in the United Arab Emirates.Advertising We will write a custom essay sample on The Securities and Commodities Authority (SCA) specifically for you for only $16.05 $11/page Learn More The authority was granted legal, financial, and administrative independence to enable it discharges its duties without any direct influence from government authorities. SCA mission is to ensure that investors’ interests are protected by ensuring that fair practices are embraced in the securities market. The authority has been working closely with the relevant stakeholders to ensure that United Arab Emirates capital market operates efficiently and that there is legal and investment awareness among all the relevant stakeholders. It is mandated to identify a nd eliminate any attempts by the stakeholders to engage in unfair practices that may lead to financial loss of investors (Lager 78). Since its formation, this authority has executed its mandate in an exceptional manner, always trying to ensure that fairness and professionalism is maintained in the securities and commodities market. Problem Statement and problem definition The primary mission of Securities and Commodities Authority is to protect the interests of the investors and to promote principles of fair and sound practices within the United Arab Emirates’ capital markets. To achieve this mission, the authority has been given the mandate to develop policies and supervise their implementation within the country’s legal framework. According to Terterov, the emerging trends in the market, especially the issue of digitization of the financial market has been a big challenge for this firm (97). Although the authority has done everything within its powers to digitize its system, it has been unable to manage the emerging trends brought about by the emerging technologies. Most of the security exchange authorities around the world, especially those in the developed nations, are already using digitized systems to regulate the capital market. However, SCA has been slow in shifting to a completely digitized system, partly because of the limited budget it receives from the federal budget. It will be necessary to address this problem in order to ensure that this authority can achieve its mandate in the most efficient manner. The issue about budgeting should be addressed so that the management can set aside enough funds that will be needed to help in the transition to a fully digitized system.Advertising Looking for essay on public administration? Let's see if we can help you! Get your first paper with 15% OFF Learn More Proposed Solution: Value Proposition Securities and Commodities Authority has a very important mandate of monitoring and man aging the United Arab Emirates’ capital market. It means that this authority is at the centre of the country’s economic growth. The strategic role played by this body makes it very necessary to ensure that it operates efficiently not only to win the confidence of local and international investors, but also to ensure that unethical practices that may hurt the country’s economy is eliminated. In this section, the researcher will look at the process of identifying the problem, proposing an appropriate solution, and finding effective ways of implementing the proposed solution. Problem Observation According to Kellan, the first stage of improving efficiency of any organization is to find the possible areas of weakness (32). Problem observation refers to the process of identifying what the problem is that hinder the ability of the organization to achieve the set goals in the best way possible. At SCA, it was observed that the system is slow in processing various activ ities. Its accuracy was also compromised in some instances because of the overreliance on manual systems instead of having a digitized system. It was also evident that the authority has a large team of employees to undertake various tasks that can be simplified by the use of a digitized system. It was evident that the management had made some steps towards ensuring that its systems are automated. However, this was only at the initial stages of digitization because a number of tasks were still done manually. Problem Definition According to Hassan and Mahlknecht, after observing the problem, the next step is to define it in very clear terms that can facilitate its solution (67). The problem that SCA is faced with is its inability to digitize its system. The firm is still using labor-extensive process in its major operational activities. This approach of operation is slowing its operations and reducing its efficiency. This impairs its ability to execute its mandate as the regulator of the securities market in the United Arab Emirates. The management of this firm is aware of this issue and that is why attempts have been made to come out of this old system. However, it has been difficult to achieve success in the previous transition attempts. One of the issues that the management has raised is the limited budget that makes it almost impossible to undertake developmental projects. This has forced the management to continue using the labor-intensive strategy. Idea Generation After identifying and defining a problem that is affecting efficiency of a firm, the next important stage is idea generation. This involves coming up with a possible solution that can be used to address the problem. In this context, the idea must successfully enable this firm to go digital in its operations.Advertising We will write a custom essay sample on The Securities and Commodities Authority (SCA) specifically for you for only $16.05 $11/page Learn More Accordi ng to Vogel, many securities and commodities markets have embraced a digital approach in managing their operations (62). It is strongly suggested that this firm should embrace benchmarking as a way of solving this problem. This will involve identifying the best practices in similar firms, especially in the United States and parts of Europe. In benchmarking, Securities and Commodities Authority will try to align its operational strategies with that of other players which are more successful in their countries. Idea Synthesis The next step will involve synthesis of the idea in order to find a way in which it can be implemented. Once the desired benchmarks have been identified, the management will need to find a way in which it can fit into the local context. The management will need to involve a team of experts to help in understanding of the new concept. The expert will explain the idea to the relevant stakeholders and why it can help in addressing the challenges that this firm is fa cing. According to Kellan, when introducing new ideas, it is always common to find that most of the stakeholders do not understand it (71). For instance, if this organization picks on the best practices of similar firms in Europe, the relevant stakeholders will need to be informed about the intended change, how it will address the current problems, and ways through which it will be implemented without causing havoc in the normal operations of the organization. At this stage, all the stakeholders get to ask relevant questions that will make them understand the new concept better. In this case, they will need to understand why Securities and Commodities Authority is emulating practices common in the New York or London. Idea Evaluation When the new concept has been explained to the stakeholders, then idea evaluation will be the next important activity. Idea evaluation will involve assessing the practicality of the idea under the local environmental forces, and challenges that may be fa ced, including how such challenges will be managed. The idea of benchmarking may be very appropriate in enabling this firm to go digital. However, care must be taken to ensure that the borrowed system of operation fits into the local context in the United Arab Emirates in the best way possible. It will be necessary to ensure that all the relevant stakeholders are comfortable with the new system and that it meets their expectations in the best way possible. Sometimes it may be necessary to modify the borrowed system to make it work appropriately based on the local forces. The management of this authority will have to make wide consultations with the stakeholders during the evaluation process to ensure that all their concerns are put into consideration before the implementation stage.Advertising Looking for essay on public administration? Let's see if we can help you! Get your first paper with 15% OFF Learn More Solution Implementation The proposed solution, as discussed above, will be for this firm to emulate best practices of similar organizations that have been successful in other parts of the world. After the process of idea screening has been done successfully and all the stakeholders are convinced that the proposed solution will help solve the current problem, the next process will be implementation of the idea. The management will have to undertake the challenging task of convincing the government to award it an extra budget that will specifically be used in implementing this project. If necessary, SCA may need to hire specialists to help in the transition process. The process of implementation should be gradual to ensure that everyone is brought on board without any serious disruptions of the organization’s activities. Discussion Migration into a digital platform may be a simple process that may only need finances for the management of Securities and Commodities Authority to implement. However, the proposed solution goes beyond a simple move to the digital platform. It focuses on the need for this firm to embrace best practices as it goes into the digital platform. It emphasizes on monitoring strategies employed by similar organizations in the developed countries and borrowing from them when developing local strategies. The following are some of the issues that will be emphasized when implementing the proposed solution for this firm. Protection Securities and commodities exchange has a mandate to protect interest of the investors from unscrupulous traders who may want to take advantage of them unfairly. Protection in this context means that they system must be watertight in terms of identifying malpractices in the securities market. The stakeholders will expect the system to offer them more protection than what is offered by the current system. According to Hassan and Lewis, the New York Securities Exchange has the best case studies about unfair busines s practices that SCA should be able to detect after implementing the proposed solutions (45). The Lehman was once one of the best companies in the United States to work for and in terms of profitability. The management strategies of the firm thrilled many investors who trusted it with their money. When this firm started experiencing challenges, the top managers manipulated figures that misled the investors. They did not realize that the value of their investment was depreciating at unprecedented rates. When the truth emerged, most of them had lost over 95% of their investments. SCA must use its new system to protect investors from such malpractices. Value preposition The new system promises to offer superior value to all the stakeholders who rely on its services in one way or the other. First, the use of technology promises to speed up operations of this authority. Services will be delivered within a shorter period compared to what is happening with the current system. The new syste m also promises a greater efficiency in service delivery. The current system is too manual and this may compromise the quality delivered to various stakeholders. With the new system put in place, it will be possible to achieve maximum quality of services that are needed by various parties, including the government. The new system also promises the stakeholders easy access to information. Migration into the digital platform means that all the relevant stakeholders will be able to access data they need digitally. The long tiring queues that have been common at the offices of this authority shall be eliminated. Instead, the stakeholders will be offered opportunity to get these services easily in an online platform. Cases of fraud will also be minimized as much as possible. Team To achieve the intended success with the new system, it will be necessary for all the stakeholders to work as a team. Every team member has specific roles that they should undertake to achieve the intended succe ss. The government, as the sole sponsor of this authority, has the responsibility of approving the new system and fully funding it. The government stands to benefit if this new system becomes successful because cases of firms filing wrong returns to evade tax will be eliminated. Individual firms will need to participate in the evaluation and implementation of the new system to ensure that it works as per their expectations. The management of the firm and its entire team of employees are expected to be involved in the entire process of coming up with and implementing the solution. Sources of finance Securities and Commodities Authority is prohibited by law to engage in for-profit business ventures because this may bring a conflict of interest. It means that the only source of income for this authority is the federal government of the United Arab Emirates. Stakeholder analysis As explained in the section above, there are specific stakeholders who are interested in this new solution th at has been proposed for this firm. The federal government of the United Arab Emirates is the first stakeholder interested in the new system proposed for SCA. It is the sponsor of this firm and is keen on improving its efficiency in the market. Individuals and firms operating in the capital market are also important stakeholders who would want to see this authority operating efficiently in meeting their various needs. The entire workforce of this firm forms the third category of stakeholders who want to see this authority become efficient in service delivery. Works Cited Hassan, Kabir, and Mervyn Lewis. Handbook on Islam and Economic Life. London: McMillan, 2014. Print. Hassan, Kabir, and Michael Mahlknecht. Islamic Capital Markets: Products and Strategies. Chichester: Wiley, 2011. Print. Kellan, Moses. Integrating Idea Generation and Idea Evaluation in the Study of Group Creativity: Effects of Different Group Procedures on Brainstorming Effectiveness and Group Satisfaction. New Yor k: Springer, 2006. Print. Lager, Thomas. Managing Process Innovation: From Idea Generation to Implementation. London: Imperial College Press, 2010. Print. Terterov, Marat. Doing Business with the United Arab Emirates. London: GMB, 2006. Print. Vogel, Thomas. Breakthrough Thinking: A Guide to Creative Thinking and Idea Generation. Cincinnati: How Books, 2014. Print. This essay on The Securities and Commodities Authority (SCA) was written and submitted by user Mikaela Patrick to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.