...Business Processes Every organization—be it a governmental body, a non-profit organization, or an enterprise—has to manage a number of processes. Typical examples of processes that can be found in most organizations include: Order-to-cash: This is a type of process performed by a vendor, which starts when a customer submits an order to purchase a product or a service and ends when the product or service in question has been delivered to the customer and the customer has made the corresponding payment. An order-to-cash process encompasses activities related to purchase order verification, shipment (in the case of physical products), delivery, invoicing, payment receipt and acknowledgment. Quote-to-order: This type of process typically precedes an order-to-cash process. It starts from the point when a supplier receives a "Request for Quote" (RFQ) from a customer and ends when the customer in question places a purchase order based on the received quote. The order-to-cash process takes the relay from that point on. The combination of a quote-to-order and the corresponding order-to-cash process is called a quote-to-cash process. Procure-to-pay: This type of process starts when someone in an organization determines that a given product or service needs to be purchased. It ends when the product or service has been delivered and paid for. A procure-to-pay process includes activities such as obtaining quotes, approving the purchase, selecting a supplier, issuing a purchase order...
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...Customer Relationship Management System www.xincrm.com Customer relationship management (CRM) is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. phases The three phases in which CRM support the relationship between a business and its customers are to: Acquire: CRM can help a business acquire new customers through contact management, selling, and fulfillment. Enhance: web-enabled CRM combined with customer service tools offers customers service from a team of sales and service specialists, which offers customers the convenience of one-stop shopping. Retain: CRM software and databases enable a business to identify and reward its loyal customers and further develop its targeted marketing and relationship marketing initiatives. Benefits of CRM The use of a CRM system will confer several advantages to a company: Quality and efficiency Decreased costs Decision support Enterprise...
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...Assignment 2 -report- completed as (part of) the requirements for 'Collaborative Business Processes 31247' What are aspects of collaboration in business goals, deliverables, activities, design and technology? Collaboration involves the use of Information Technology and other tools to assist groups of people to achieve a shared task. Collaboration processes are infused in business processes and therefore are present in the creation of business goals, deliverables, activities, design and technology. Business Goals The creation of business goals is an important process in establishing the foundations for a business’ direction. Collaboration tools are used to facilitate team meetings and the communication of ideas between members of a group. The use of such tools fosters discussion allowing each member to provide their specialised skill set and knowledge to the group. The use of online collaboration resources, such as social networks and web applications allows each member of the group to contribute from any location or device that has Internet access. Deliverables The creation of deliverables is subjected to a collaboration process. Reports, overviews and analysis are made through a collaborative effort with several people often contributing to the creation of a deliverable item. Those items can then be further subjected to a collaborative process and used by another group of people to create another item, report or idea. Collaborative tools, such as Google...
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...Core Business Processes and Business Functions Lasting Memories is a provider of specialty handmade bags. The bags are produced from the clothes of children near and dear to the customers. Customers can provide a special piece of clothing that they want to hold on to and Lasting Memories will make any kind of bag that they choose. The following section will provide an outline of the core business processes and the business functions that support them. Inbound Logistics: This department is responsible for obtaining the clothes that are needed to make the designer bags. They will buy sewing materials, zippers, straps, handles, lining, beads, buttons and and anything else that is needed to produce the bags. Since Lasting Memories is offering such a unique item there are many different supplies and materials that could be needed to produce these unique designer bags. Operations: In the operations business function they will be responsible for designing and assembling the bags according to customer specifications. They will work directly with the customer prior to production to come up with a layout of the kind of bag that they want. Customers will be able to order any extra items that they want to make their designer bag unique for them. The operations department will package the bag upon completion. Outbound Logistics: The outbound logistics business function will be responsible for the transportation of the bags to the customers. This department will make sure...
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...shifting the financial burdens of losses outside the responsibility of the organization. The purpose of this action is to take a specific risk, which is detailed in the insurance contract, and pass it from one party who does not wish to have this risk to a party who is willing to take on the risk for a fee, or premium. 1.4. Risk Monitoring (Follow-up)- This is a process of continually assessing pre-existing and potential exposures that could threaten the organization. One thing to remember is that this is a proactive and ongoing action. 1. Establish an Indemnity Clause An Indemnity clause is a written agreement between a business chain that requires one party, such as a supplier, to indemnify any losses to the business. Indemnity clauses are useful because if for any reason the organization is unsatisfied with any products it received, the business/corporation would receive an indemnity from the supplier, which usually becomes a reduction on price. So if a customer was unsatisfied with any products received, the supplier would have no choice but to give an indemnity for the products, not the selling party. 2. Establish an Exculpatory Clause An exculpatory clause bars any Third Party member from suing the organization if they are injured due to their own negligence. What this does is dissipates the organization of any responsibility associated to the exculpatory...
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...supporting Business Processes Unit Code: CIS 13 Assignment 1 – Part B Executive Summary The ANZ Bank has an organisational structure which is divided into geographic location. The focus of this report is on the Australian Division and The Retail Distribution Functional Area. All functional areas within any business are support by a number of business processes. One business process which supports ANZ’s Retail Distribution functional area is Retail Lending. This particular business process plays a big part in creating revenue and ensuring that any risks in lending are kept to a minimum. Management and sales staff within Retail Lending use two types of Information Systems (IS), Hogan and Seibel Customer Relationship Management (CRM). It is these IS which allow ANZ to create their revenue and ensure the appropriate risk assessment is being use. Information Systems are used in all types on businesses globally; they add value to the organisation and also to the customers. Table of Contents Executive Summary 2 1. Introduction 4 2. Retail Distribution – Functional Area 4 2.1. Business Process 4 3. Customer Information System – CSC HOGAN Systems 5 3.1. Supporting Business Process 5 3.2. Value Add 5 3.3. Inputs, Outputs and Feedback 5 3.4. Requirements 5 4. Customer Relationship Management System - SEIBEL 5 4.1. Supporting Business Process...
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...COLEGIO DE DAGUPAN COLLEGE OF BUSINESS AND ACCOUNTANCY S.Y. 2012=13 THE FORGOTTEN GROUP MEMBER Submitted by: Daisy Mae D. Mendoza BSAIII BLK2 Submitted to: Ma’am N.V Ocampo Assistant Professor III SUMMARY: The case roams around the forgotten group member and Christine Spencer, a devoted third-year accounting student who was assigned as a team leader or coordinator on a group work written analysis. The said group activity is in partial fulfillment of the Organizational Behavior course which she and her groupmates are currently taking . Christine, as a responsible team leader was able to deal with Janet, Diane and Steve in an organized manner in order to come up with their designated sections, however, with the exception of Mike, the only member who is deeply troubled by his course, job, and lovelife problems. Now, `Christine is being troubled on how the group overall mark could be raised without having the group’s contribution as a whole considering the fact that Mike could help a lot, and that the activity is accounted for as a group and not individually. 1 . How could an understanding of the stages of group development assist Christine in leadership situations such as this one ? Christine’s knowledge of the stages of group development would aid her in dealing with group conflicts entailing leadership. On her case, she has no problem on the first stage of mutual acceptance( or forming stage in Bruce Tuckman) because she...
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...Yolande` Williams Week 3: OB Skills Workbook: Case 7 – The Forgotten Team Member May 23, 2011 Part 1: Group Development 1. How could an understanding of the stages of group development assist Christine in leadership situations such as this one? Christine must first have an understanding that a group is defined as a collection of people who interact with one another, accept rights and obligations as members and who share a common identity. In Christine accounting group, their goal is to compose a well-written analysis. This 5-member group is a dynamic bunch because of the different mix of personalities. Because of the dynamics, the variety of perceptions and work attitudes that affect the group processes and development cannot be prevented. With this understanding, Christine would have been able to key in on certain clues on how to handle the different circumstances of her team. Through the forming stages the group would have been given a chance to get to know one another and what is acceptable behavior. In the storming stage, members are able to address their differences. Group members are able to understand one another’s interpersonal styles and ways to accomplish team goals all while satisfying personal needs. In the norming stages, members address their differences and tensions tend to loosen up. With the performing stage member work as a team and their skills and values are developed and needed to successfully accomplish the team’s work. More importantly...
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...kij1 Master Thesis Supervisor: PETER LØCHTE JØRGENSEN Author: QIAN Zhang (402847) Pricing of principle protected notes embedded with Asian options in Denmark ---- Using a Monte Carlo Method with stochastic volatility (the Heston Model) Aarhus School of Business and Social Science 2011 2 Acknowledgements My gratitude and appreciation goes to my supervisor Peter Lø chte Jø rgensen, for his kind and insightful discussion and guide through my process of writing. I was always impressed by his wisdom, openness and patience whenever I wrote an email or came by to his office with some confusion and difficulty. Especially on access to the information on certain Danish structured products, I have gained great help and support from him. 3 Abstract My interest came after the reading of the thesis proposal on strucured products written by Henrik, as is pointed out and suggested at the last part of this proposal, one of the main limitations of this thesis may be the choice of model. This intrigues my curiosity on pricing Asian options under assumption of stochstic volatility. At first, after the general introduction of strucutred products, the Black Scholes Model and risk neutral pricing has been explained. The following comes the disadvanges of BS model and then moves to the stochastic volatility model, among which the Heston model is highlighted and elaborated. The next part of this thesis is an emricical studying of two structured products embbeded with Asian...
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...Part I: Group Developments Group development begins with the forming stage where members ask questions, get to know each other and discover acceptable behaviors. The storming stage, or second step, is the period where there may be emotional outbreaks and tension within the group. This progresses to the third or norming stage where team members start to work together as a unit, the performing stage where the team is well integrated and functioning as a team. And lastly the adjourning stage when the team is ending as a group and group accomplishments are celebrated. Darlene thinks Christine’s team is now in the norming stage. Christine’s team first meeting was a forming stage meeting. This is supported by the fact that during this meeting Diane when asked volunteered information, Steve was businesslike and kept the team focused on the agenda, Janet was reliable and contributed more than was expected, and Christine was meticulous and organized. Mike has been the forgotten team member, he does not attend meeting. It is week five and Christine’s team in is the norming stage they have all worked together to accomplish a task and all of the team members has submitted their assignments. Had Christine understand the stages of group development Christine would have been able to analyze what stage the team was in and prepare for possible problems. If Christine recognized when the team was in the storming stage she could have addressed Mike issues of not being available for...
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...I have heard that you may be interested in taking a course or two on psychology in college and I would love to give you my thoughts. As someone who is not planning to major in psychology I figured this course to be more of a class of lesser importance. However, I have learned various things throughout the class that would lead me to believe my first impression to be wrong. As you may not have known psychology is the study of the mind. However, since there are no ways to actually observe or touch the mind, we are unable to directly study it. Instead, through the use of studying the behaviors and mental processes we can correlate that with the mind. Let me give you one example of something that is taught in class. Memory is an active system that receives, stores, and recovers information. In order for one to keep a memory for a longer length of time, the memory must pass through the sensory memory, short-term memory, and into the long-term memory. The sensory memory is only able to hold an exact copy of what you may see or hear but only for a couple of seconds. The information stored from a visual memory is called the iconic memory while information stored from hearing is called the echoic memory. However there is a lot of information when you see and hear things. Therefore we have something called selective attention that blocks out what we deem unimportant. An example would be when being in a concert the only thing you may remember is the band; however it would be fairly difficult...
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...Managing the Work of Teams and Individuals Thomas Wingham 8th December 2011 Contents * Introduction * Groupthink * Causes * Remedies * General Group Problem Solving (GGPS) Model * Risky Shift Phenomenon * Causes * Remedies * Conclusion * Recommendations * Reference List * Appendices Introduction In this report there will be an evaluation of Groupthink. Janis eight causes of Groupthink and what the remedies are. Aldag and Fuller’s model of groupthink and how it is different from Janis’s model. There will also be an evaluation of Risky Shift Phenomenon, this will include the causes and the remedies of Risky Shift Phenomenon. Groupthink Irving Janis says Groupthink occurs when “a group makes faulty decisions because group pressures lead to a deterioration of “mental efficiency, reality testing, and moral judgment”” (Janis, pg 9.) Groupthink - Causes According to Janis there are eight causes of Groupthink. Illusion of invulnerability; creates too much confidence that encourages extreme risks. Collective rationalization; members warned about something but do not take any notice. Belief in inherent morality; members believe in their goal and ignore all moral consequences. Stereotyped views of out-groups; negative views of enemy make effective responses to conflict seem unnecessary. Direct pressure on dissenters; members cannot argue with group views without being under pressure. Self-censorship; deviations...
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...MEMORY IS LEARNING THAT PERSISTS Why We Forget 1. Negative self-concept: we think of ourselves forgetting things. 2. We have not learned the material well. If something is to be retained, it must be correctly, clearly and forcibly impressed on the mind. We must give it the necessary attention and interest. Self-questioning and spaced or periodic reviews are essential. 3. Psychological reasons: defensive forgetting Generally, unpleasant things are remembered better than pleasant things (especially by pessimists) and both pleasant and unpleasant things are remembered better than materials we are indifferent to. Freudian theory holds that unpleasant things are often barred from consciousness. This is often referred to as active forgetting. 4. Disuse Memories fade away rapidly when not reviewed or used. The curve of forgetting is like a playground slide; we forget most immediately after we learn -in the first 24 hours; then it proceeds slowly. Motor learning seems to be better retained than verbal learning because a motor act has to be completely done to be done at all and so requires a higher degree of organization and competency which involves over-learning. But "forgotten" material can be relearned in less time than is required for the original learning, even after many years' disuse. EVEN MATERIAL THAT WE DO NOT RELEARN HAS UNDOUBTEDLY BEEN TRANSFORMED INTO ATTITUDES AND VALUES THAT FORM THE FOUNDATIONS OF OUR JUDGMENT...
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...MEMORY Memory is one of the most important concepts in learning; if things are not remembered, no learning can take place. Futhermore, memory has served as a battleground for opposing theories and paradigms of learning (e.g., Adams, 1967; Ashcraft, 1989; Bartlett, 1932; Klatzky, 1980; Loftus & Loftus, 1976; Tulving & Donaldson, 1972). Some of the major issues include recall versus recognition, the nature of forgetting (i.e., interference versus decay), the structure of memory, and intentional versus incidental learning. According to the early behaviorist theories (e.g., Thorndike, Guthrie, Hull), remembering was a function of S-R pairings which acquired strength due to contiguity or reinforcement. Stimulus sampling theory explained many memory phenomenon on the basis of statistical outcomes. On the other hand, cognitive theories (e.g., Tolman) insisted that meaning (i.e., semantic factors) played an important role in remembering. In particular, Miller suggested that information was organized into "chunks" according to some commonality. The idea that memory is always an active reconstruction of existing knowledge was championed by Bruner and is found in the theories of Ausubel and Schank. Some theories of memory have concerned themselves with the nature of the processing. Paivio suggests a dual coding scheme for verbal and visual information. Craik & Lockhart proposed that information can be processed to different levels of understanding. Rumelhart & Norman describe three...
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...The Human Memory Tracey Percifield American Intercontinental University Abstract Unit 4 IP The human mind is a fascinating instrument that is very complex and even though we know quite a lot about it we still do not know everything. The human memory has three phases of memory interpretation; Sensory Memory, Short-Term Memory and Long-Term Memory. Knowing how each of these memories store information is comparison to c computer. The average adult knows anywhere between 50,000 to 100, 00 words. The brain is incredible in protecting itself when injuries occur at times. The Human Memory The Father of Psychology begins with Sigmund Freud and his analysis of Psychoanalysis and the theories he introduced. Freud had many theories that caused controversy throughout his career but in today’s society they are accepted and his findings were true then as they are now without the controversy. In the unconscious mind we absorb many things from learning to traumatic events and information is stored, processed and in some ways affect our lives if we don’t resolve the issues at hand then we carry them with us and they still may affect us as we grow older (IEP, 2010). In 1968 two other Psychologist Richard Atkinson and Richard Shiffrin develop a model of the human mind with the understanding how memory storage is taken in and processed and recalled for later usage. The model is referred to Atkinson-Shiffrin model and is explained as three phases of sensory, short-term and...
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