...money into stocks (which didn't help them in the long run) others put thier money towards the mills. One mill in Manchester, NH was one of these Gilded Age marvels. Through this era, there was a huge growth of different industries and a wave of immigrants marked this period in history (Morgan, 54). Because of the success of Western expansion, the gold rush in California and resources in Western North America, the demand for railroads led the way for the Gilded Age. The production of iron and steel rose dramatically because of improved technologies in factories and western resources like lumber, gold and silver increased the demand for improved transportation. There were mining operations that led to incredible profits and the owners of companies dealing with these were suddenly swimming in lots of money,many men used these new found riches to invest in the Mills that were in New England at the time. The Mill that is most interesting to me is the Merrimack River Mills in Manchester, NH. Growing up in Manchester only a mile from the mills has made me want to learn the history of this landmark and how the gilded age affected Manchester. In May 1807, Samuel Blodget completed a canal and lock system beside the Merrimack River at Derryfield. His enterprise allowed boats traveling between Concord and Nashua to bypass Amoskeag Falls, opening the region to development. Blodget envisioned here "the Manchester of America," a water-powered textile center comparable to the Industrial Reveloution...
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...performance-to date and suggest how they can expand current manufacturing and distribution operations and the institutional challenges that lie ahead. I chose Caterpillar because they are an Illinois company that employs multiple family members of mine. I chose France because my wife is a French teacher and we have visited France multiple times. INTRODUCTION According to The World Factbook, France today is one of the most modern countries in the world and is a leader among European nations. It plays an influential global role as a permanent member of the United Nations Security Council, NATO, the G-8, the G-20, the EU and other multilateral organizations. France rejoined NATO's integrated military command structure in 2009, reversing DE GAULLE's 1966 decision to take French forces out of NATO. Since 1958, it has constructed a hybrid presidential-parliamentary governing system resistant to the instabilities experienced in earlier, more purely parliamentary administrations. In recent decades, its reconciliation and cooperation with Germany have proved central to the economic integration of Europe, including the introduction of a common currency, the euro, in January 1999. Caterpillar was first exposed to France between 100 years ago between 1914 and 1918 during World War I. Benjamin Holt, one of the founding fathers of Holt Manufacturing Company (later to merge with C.L. Best Tractor Company and start Caterpillar Tractor Company which later...
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...The story of caterpillar dates back to the late 19th century when Daniel Best and Benjamin Holt each were experimenting with ways to fulfil the promise steam tractors held for farming. Prior to the merger that formed Caterpillar Tractor Co. in 1925, The Hold Manufacturing Company and C.L. Best Tractor Co. had individually pioneered gasoline-powered track type tractors. The first Diesel Sixty Tractor was produced in 1931. By 1940, Caterpillar’s product line had expanded to include motor graders, blade graders, elevating graders and electric generator sets. During World War 1, Holt’s track-type tractors were in great demand by the Allies for pulling and supply wagons through harsh conditions. Troops in World War 2 also relied on Cat equipment, including track-type tractors, motor graders, generator sets and special diesel engines for M4 tanks. The post war period ushered in numerous new products and the company’s first foreign subsidiary. In 1950, the establishment of Caterpillar Tractor Co. Ltd. In Great Britain was the first of many overseas operations created to help manage foreign exchange shortages, tariffs and import controls, and to better serve customer needs around the world. For the same reasons, manufacturing...
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...CASE STUDY SUMMARY: MARKETING EXCELLENCE CATERPILLAR The steam tractors of the 1890s and early 1900s were extremely heavy, sometimes weighing 1,000 pounds (450 kg) per horsepower, and often sank into the rich, soft earth of the San Joaquin Valley Delta farmland surrounding Stockton, California. Benjamin Holt attempted to fix the problem by increasing the size and width of the wheels up to 7.5 feet (2.3 m) tall and 6 feet (1.8 m) wide, producing a tractor 46 feet (14 m) wide. But this also made the tractors increasingly complex, expensive and difficult to maintain. Caterpillar was founded in 1925 when two California based tractor companies merged. The name “Caterpillar” Company photographer Charles Clements was reported to have observed that the tractor crawled like a Caterpillar, and Holt seized on the metaphor. "Caterpillar it is. That's the name for it!" Some sources, though, attribute this name to British soldiers in July 1907. Two years later Holt sold his first steam-powered tractor crawlers for US$5,500, about US$128,000 today. Each side featured a track frame measured 30 inches (760 mm) high by 42 inches (1,100 mm) wide and was 9 feet (2.7 m) long. The tracks were 3 inches (76 mm) by 4 inches (100 mm) redwood slats. Holt received the first patent for a practical continuous track for use with a tractor on December 7, 1907 for his improved "Traction Engine" ("improvement in vehicles and especially of the traction engine class; and included endless traveling platform...
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...Benjamin Holt attempted to fix the problem by increasing the size and width of the wheels up to 7.5 feet (2.3 m) tall and 6 feet (1.8 m) wide, producing a tractor 46 feet (14 m) wide. But this also made the tractors increasingly complex, expensive and difficult to maintain. Another solution considered was to lay a temporary plank road ahead of the steam tractor, but this was time-consuming, expensive, and interfered with earthmoving. Holt thought of wrapping the planks around the wheels. He replaced the wheels on a 40 horsepower (30 kW) Holt steamer, No. 77, with a set of wooden tracks bolted to chains. On Thanksgiving Day, November 24, 1904, he successfully tested the updated machine plowing the soggy delta land of Roberts Island.[10] Company photographer Charles Clements was reported to have observed that the tractor crawled like a caterpillar,[2] and Holt seized on the metaphor. "Caterpillar it is. That's the name for it!"[10] Some sources, though, attribute this name to British soldiers in July 1907.[11] Two years later Holt sold his first steam-powered tractor crawlers for US$5,500, about US$128,000 today. Each side featured a track frame measured 30 inches (760 mm) high by 42 inches (1,100 mm) wide and were 9 feet (2.7 m) long. The tracks were 3 inches (76 mm) by 4 inches (100 mm) redwood slats.[10] Holt received the first patent for a practical continuous track for use with a tractor on December 7, 1907 for his improved "Traction Engine" ("improvement in vehicles, and...
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...Guns Magazine: Loaded... ready... safe! Can your home-defense gun be loaded and quickl... Page 1 of 5 Return to article page This story was printed from LookSmart's FindArticles where you can search and read 3.5 million articles from over 700 publications. http://www.findarticles.com Loaded... ready... safe! Can your home-defense gun be loaded and quickly accessible, yet still be safe? Our handgun editor says "Yes!" and offers several proven strategies. Guns Magazine , Jan 1, 2002, by Massad Ayoob If you keep a gun in your home or workplace, it's only common sense that it be loaded and quickly accessible. The same common sense, however, also tells us the firearm should be inaccessible to children, incompetent adults and unlawful intruders. Having both at once is a tall order, but that doesn't make it impossible. Let's look at a broad spectrum of armed citizens and police officers in this country who have found that when it comes to this important matter -- you can have your cake and eat it too. In The Home John is a detective and gunfight winner who works for a large, West Coast jaw-enforcement agency that serves a very high-crime community. He has investigated a number of violent home invasions, many of which had tragically fatal results. Though most of these were "drug dealer invading and ripping off rival dealer" situations, a disturbing number involved innocent, law-abiding citizens who were helpless once their doors were kicked in. When John gets dressed for work in the...
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...Understanding budgets and financial statements was a critical component in the simulation. The success of Elite Solutions depended on the ability to assess the company’s financial position at any given time and make informed decisions based on the information provided. I chose to take a conservative approach at production capacity out of the gate, beginning the simulation with a capacity of 25 units per day, as the likelihood of sales exceeding that mark would have been highly unlikely and understanding that turning a profit is a tall order in the first quarter of any business. Initial budgeting was focused on directing the company’s limited capital toward the opening of the first two locations, New York and Tokyo. As the simulation moved into the 3rd and 4th quarters, it became imperative to budget for factors outside the realm of manufacturing. Each quarter, the ability to direct advertising, marketing research and human resource dollars was a requirement for success. The need to balance adequate staffing needs in relation to production and product demand required the use of multiple research and demand projection budgets. From the onset, my goal was to turn an overall profit during the first 4 quarters of operation. The pro-forma statements give simple to understand metrics of the financial position of Elite Solutions. Each quarter, I was able to ascertain the financial position, specifically regarding net operating cash flow and the cash balance at the end of...
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...Tenrack is a fairly large manufacturing company located in the southern United States. The company manufactures tennis rackets, tennis balls, tennis clothing and tennis shoes. All products bearing the company’s distinctive logo, a large green question mark on a white flocked tennis ball. The company’s sales have been increasing over the past 10 years. The tennis rackets division has recently implemented several advanced manufacturing techniques, such as robot arms hold the tennis rackets in place while the glue dries, and machine vision systems check for defects. The engineering and design team uses computerised drafting and testing of new products. The following managers work in the tennis rackets division: Jason Dennis, Sales Manager (supervises all sales representatives) Dave Marley, Cost Accounting Manager (supervises cost accountants) Kevin Carson, Production Supervisor (supervises all manufacturing employees) Sally Renner, Engineer (supervises all new-product design teams) REQUIRED a) What are the primary information needed by each manager? Give examples. (5 Marks) b) Which, if any, financial accounting report(s) is likely to be used by each manager? Explain. (3 Marks) c) Name one special purpose management accounting report that could be designed for each manager. Include the name of the report, the information it would contain, and how frequently it should be issued. (7 Marks) [TOTAL 15 MARKS] Grading Rubrics for Assignment Question 1: (5) (4) ...
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...E15-4 Analyze costs of manufacturing and determine missing amounts. (LO 2, 6), AN Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Case A Case B Case C Direct materials used $ (a) $ 83,000 $ 63,150 Direct labor 50,000 140,000 (h) Manufacturing overhead applied 42,500 (d) (i) Total manufacturing costs 145,650 (e) 213,000 Work in process 1/1/14 (b) 15,500 18,000 Total cost of work in process 201,500 (f) (j) Work in process 12/31/14 (c) 11,800 (k) Cost of goods manufactured 192,300 (g) 222,000 Instructions (a) Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. A) 53,150 B) 55,850 C) 9,200 H) 106,518 I) 43,332 J) 231,000 K) 9,000 P15-4A Compute predetermined overhead rates, apply overhead, and calculate under- or overapplied overhead. (LO 4, 6), AP Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2014, the following estimates were made for the year. Department D E K Manufacturing overhead $1,200,000 $1,500,000 $900,000 Direct labor costs $1,500,000 $1,250,000 $450,000 Direct labor hours 100...
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...Accounting Exam 2B (Chapters 6, 9, 7, 8 & 11) Spring 1. If a company has excess capacity, how might they mitigate it in the short run? A. Outsource a component they are currently manufacturing in house B. Increase the selling price of the product C. Accept a special order D. Discontinue price discounts E. Hire additional employees 2. Brite Lites makes floor lamps. The company has received a request to make a special production run of 50 custom-made floor lamps. Each of the special order lamps requires $10 in labor, $8 in materials and $5 in variable overhead. In addition, the special production run requires a setup cost of $400. Brite Lites currently has 45 units of excess or idle capacity. The company's regular lamps generate a contribution margin of $20 each. Brite Lites allocates fixed overhead to its product at a rate of $7 per unit. What is the minimum selling price per lamp Brite Lites should accept to make the special order? $20 A. $23 B. $30 C. $31 D. $33 E. Cost of special order Variable cost ($10 + $8 + $5) x 50 units = $1,150 Setup cost = $400 Opportunity cost = $20 x (50 units - 45 units) = $100 Total = $1,650 Minimum price per unit = $1,650 / 50 units = $33.00 Keep your exam scantron covered . . . . Keep your eyes on your own paper . . . . 3. The Owens Company budgeted sales of 20,000 printers at $90 per unit last year. Variable manufacturing costs were budgeted at $46 per unit and fixed manufacturing costs at $12 per unit. A special order for 1,000 printers...
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...Company G 1-Year Marketing Plan Student Name: Student ID: Date: Student Mentor Name: Table of Contents Introduction 3 Product Description and Classification 3 Product Support of Mission Statement……………………………………………………………………………………………….….3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s Five Forces Model 3 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 7 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 8 Introduction Here at Company G, for many years we have been on top when it comes to high end consumer electronics. The decision a couple of months ago to expand into the small appliance market is sure to be a game changer. Our engineers have finished development on a full line of small appliances and the one chosen for this marketing plan, The HT Elite Rotisserie Toaster/Oven, is going to be the first model we roll out to the public. This new model will connect seamlessly with our whole HT line of products through an advance Bluetooth technology and is sure to change...
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...Elite Manufacturing Company Case Study #1 Elite Manufacturing Company 1.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Average 385711 | 314931 | 334035 | 369290 | 350992 | 2.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Average 799132 | 639407 | 683037 | 746491 | 717016 | 3.) Baumol Model assumes that the cash inflow is constant. Both equations find the optimal cash balance, but the Miller-Orr model goes a step further and finds the average cash balance. Miller-Orr gives a more accurate depiction of the optimal cash balance because it takes into account the upper and lower limits for the cash balance. A substitute for the baumol model could be the EOQ model because it finds a better target cash balance. 4.) If it was the minimum, we would be charged with a penalty, whereas if it was only an average, there is more flexibility. 5.) Baumol model= 78.76 Miller-Orr = 70.07 The range they consider normal is between 55 and 70, so only the Miller-Orr model fall into this range. 6.) A few changes that we recommend in our firm’s cash management is to either synchronize our cash flows, use a lockbox plan, or make payments by wire. Synchronizing Cash flows: Synchronizing cash flows helps to improve their forecast by timing cash receipts to coincide with cash requirements, so that our liabilities are kept to a minimum. Lockboxes: An older form of cash management that allows you to have...
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...Riordan Manufacturing Inc., a global company that employs 550 people with annual earnings at $46 million, listed as one of the fortune 1000 enterprise owned by Riordan enterprise that has earnings that gross over $1 billion, is looking at expanding the business system at Riordan Manufacturing. Riordan Manufacturing is a company that produces plastic beverage containers and is in need of a complete business systems/sub-systems renewal. Riordan Manufacturing is looking for system that can move them ahead of the industry; systems which could in turn boost productivity, revenues, and save the company money while cutting labor cost. History Dr. Riordan noticed there was a commercial need for his idea by 1992, he received venture capital for the purchase of a plant in Pontiac, MI. It was at this point that the company was renamed Riordan Manufacturing. Today, they are a leader in the industry of polymer materials which provide several types of solutions to all of its customers. The Hangzhou, China location produces plastic fan parts. When it comes to research and development, this is all done at the Corporate Headquarters located in San, Jose California. Riordan's main focus is to remain an industry leader in identifying industry trends. Systems Web Site Riordan Manufacturing has a history of being a front-runner in its industry. It was created in 2003, with very small changes made to it since then. Some of the main changes made are information about other companies that have...
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...1) What accounted for the success of the project? First, right decision and support of top leaders. After the Company CEO Morgridge approved the ERP project in the board of directors, he introduced the project to all the employees, so that employees of the company knew that the ongoing project was the highlight of the company, thereby it reduced the resistance to reform. Second, CISCO Systems, Inc. retained a centralized management of the functional organization structure to ensure a stable organizational basis for promoting a significant innovation. Third, a powerful elites team. The project team composed of excellent IT elites, and organization motivated them efficiently in order to make them respond to the challenges actively. Fourth, Strong sense of responsibility and strong support came from the partners. CISCO chose the larger and stronger companies to be the partners in order to reach the win-win situation. CISCO chose KPMG as the integrated partner was based on the company's experience talents who have excellent professional knowledge and rich experience. As Cisco’s ERP software vendors, Oracle Corporation has stronger production capacity than other vendors, it has the ability to meet the standard of Cisco’s implementation of ERP project; at the same time, Oracle made a commitment about the long-term development of software package function. Fifth, the company’s advanced management idea and efficient operation pattern. The team's implementation...
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...ELITES – THE GEN Y TRANSFORMERS Nature abhors vacuum, and so do homo-sapiens. The latter, in its unrelenting quest, goes a step further and evolves to improvise, adapt and overcome. Given the nature of how non-conformist descended from the same ancestor, we’re all the same; and yet we’re so different. At the very outset, the elite, since time immemorial, has enjoyed a stellar reputation by virtue of their elevated status, which was, is and continues to be shaped by their social status; political background; cultural hegemony and/or economical might. There is no doubt in mentioning that the elite has toiled hard, slogged painstakingly and worked tirelessly to mount on the pinnacle in every walk of life. However, the existential question still looms large; to what extent the ‘elite’ has contributed and is contributing in the national and global discourse. The answer may well be fraught with complications, and full of labyrinth cross-questions, but this is what this essay seeks to do. I live in India, a developing economy whose population is over 1.2 billion. Though it is the seventh largest country in terms of area it houses the maximum number of people second to China. If we are optimistic, then in one way we have the second largest manpower in the world and we can use it to do wonders. Infact the steady progress which India has been doing in the past has made the developed nations be wary and cautious of India’s achievements. But, on the contrary, if we look at the real...
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