...In order to understand poverty one must be able to identify exactly what it is, in the oxford dictionary the definition of poverty is ‘the condition of being extremely poor’. But then one must question what is defined as poor? I will be looking at two approaches of this question, the first is the ‘monetary approach’ and the second is the ‘capabilities approach’. I will also be analysing two different measures of poverty, ‘absolute’ and ‘relative’ and to conclude which is a more accurate or a more suitable instrument in poverty measure. The monetary approach is probably the most common method of understanding poverty. It is highly used by economists and is significantly connected with microeconomic theory. Utility maximisation is the base for this approach and the main instrument used is a poverty line; this sets a threshold where if income or consumption is below, people are then classified as poor. An example of this would be the ‘dollar a day’ where any income below $1 a day is classified as poor. This approach suggests that income or consumption is equivalent to well-being. In developing countries measuring welfare with consumption would be more appropriate than using income, as income is a small component and would be an overestimate. There is plenty of data which can be analysed at household levels. However, poverty is an individual phenomenon where individuals are situated within households. After assuming some measurements between income and consumption, data at the household...
Words: 1497 - Pages: 6
...Compare capabilities approaches to poverty with monetary approaches. What are the strengths and weaknesses of each? In your view, which is better for understanding poverty? Explain your answer. “What a weary time those years were- to have the desire and the need to live but not the ability” (Bukowski, 1982). Poverty affects billions of people worldwide, particularly in sub-Saharan Africa and East Asia. Defining poverty is almost as difficult as eradicating it. For the purpose of this essay, I will take poverty to mean the state of being exceptionally poor. Furthermore, poorness will be defined as an extremely low quality of life, which culminates as a result of social, political and economic factors. In order to examine the strengths and weaknesses of each approach, it is necessary to identify who these are strengths and weaknesses for; a strength of an approach may be considered a weakness from a different perspective. Governments and international organisations, with a common goal of lifting poverty from disadvantaged countries, are the main focus of this essay. Leading policy makers around the world have adopted a “uni-dimensional perspective on poverty” (Wong, 2012) which largely focuses on a lack of income. This definition provides the basis for the Monetary Approach to poverty. However, this is an exceptionally constricted view of poverty, disregarding many social and political factors that contribute to the current, bleak situation. The Capabilities Approach to poverty...
Words: 1937 - Pages: 8
...Summary Beaver Brothers, Inc. is conducting a study to assess the accuracy, and consistency of their 150-gram bar soap production line. They are interested in seeking; the reliability, average weight and range of each soap bar. By conducting this study Beaver Brothers, Inc. wants to see the consistency of their machines, dependability of their marketing tools and the level of assurance that they are promoting and supplying trustworthy products to their consumers. Beaver Brother, Inc. achieves their wanted information by collecting 25 samples of 5 observations and recorded the data in a table. The task is to use these collected samples to create; means, graphs, and tables to present the data and draw conclusions about the production line. This is to be done using quantitative and qualitative data, consisting of reliable and relevant information. Answers and Conclusions a) The first assignment was to create the control charts showing that the process of the machinery is in statistical control. This was accomplished using the x-bar charts program on the POM software. By viewing Graph 1, you are able to see the range of the weight within each sample group. You can see that the range diversifies from up to eleven grams in study 22, as low as less than one gram in study 24. There is a consistent trend however, that the average range of each five observations ranges at around 6.59 grams. Graph 1 is inconclusive by itself. It does not demonstrate the gram weight of each soap...
Words: 1416 - Pages: 6
...Executive Summery The benefits of lean manufacturing are evident in factories across the world. With a view to achieve performance improvement both the developed and developing countries are practicing lean. In this study nine garment manufacturing companies were selected as sample. A field survey with a semi-structured questionnaire, interviews and site visits were conducted to get necessary lean information from the respondent. These companies were selected purposively to ensure the best possible scenario of lean practices in Bangladesh. The focus of this study is to investigate the improvement of manufacturing performance through lean practice in the Bangladeshi garment industry. The findings indicate that the selected companies have adopted a wide variety of lean tools and techniques and gained many performance improvements. Findings also identified the business challenges that drive the companies to practice lean as well as the areas where changes have been made. It concludes with suggestions for further work. Introduction Today’s global supply chains are, in effect, highly complex networks. They are increasingly vulnerable to disruption which can have significant impact on profitability and shareholder value. Recent research at Cranfield School of Management has highlighted where the sources of risk in supply chains might lie and how that risk might be mitigated and managed by the application of ‘Six Sigma’ philosophies and procedures. [pic] As Supply Chain...
Words: 5501 - Pages: 23
...We bring good things to life What Is Six Sigma? Impact The Roadmap to Customer Making Customers Feel Six Sigma Quality Globalization and instant access to information, products and services have changed the way our customers conduct business — old business models no longer work. Today’s competitive environment leaves no room for error. We must delight our customers and relentlessly look for new ways to exceed their expectations. This is why Six Sigma Quality has become a part of our culture. What is Six Sigma? First, what it is not. It is not a secret society, a slogan or a cliché. Six Sigma is a highly disciplined process that helps us focus on developing and delivering near-perfect products and services. Why ”Sigma“? The word is a statistical term that measures how far a given process deviates from perfection. The central idea behind Six Sigma is that if you can measure how many “defects” you have in a process, you can systematically figure out how to eliminate them and get as close to “zero defects” as possible. Six Sigma has changed the DNA of GE — it is now the way we work — in everything we do and in every product we design. GE’s Evolution Towards Quality GE began moving towards a focus on quality in the late ‘80s. Work-Out®, the start of our journey, opened our culture to ideas from everyone, everywhere, decimated the bureaucracy and made boundaryless behavior a reflexive, natural part of our culture, thereby creating the learning environment that led...
Words: 1475 - Pages: 6
...g We bring good things to life What Is Six Sigma? Impact The Roadmap to Customer Making Customers Feel Six Sigma Quality Globalization and instant access to information, products and services have changed the way our customers conduct business — old business models no longer work. Today’s competitive environment leaves no room for error. We must delight our customers and relentlessly look for new ways to exceed their expectations. This is why Six Sigma Quality has become a part of our culture. What is Six Sigma? First, what it is not. It is not a secret society, a slogan or a cliché. Six Sigma is a highly disciplined process that helps us focus on developing and delivering near-perfect products and services. Why ”Sigma“? The word is a statistical term that measures how far a given process deviates from perfection. The central idea behind Six Sigma is that if you can measure how many “defects” you have in a process, you can systematically figure out how to eliminate them and get as close to “zero defects” as possible. Six Sigma has changed the DNA of GE — it is now the way we work — in everything we do and in every product we design. GE’s Evolution Towards Quality GE began moving towards a focus on quality in the late ‘80s. Work-Out®, the start of our journey, opened our culture to ideas from everyone, everywhere, decimated the bureaucracy and made boundaryless behavior a reflexive, natural part of our culture, thereby creating the learning environment that...
Words: 1476 - Pages: 6
...Alex Garza Schreiner University MKTG 4323, Purchasing & Supply MGMT Dr. Mark D. Woodhull October 6, 2015 1. Cp= +/-.06= .12 / .1777 (6x .0229629) = .675 Cpk= 1-k * Cp = .66898 2. It is important to prove that a process is proven capable before developing statistical control limits because it would be a waste of money if they went through the whole process just to find out it wasn’t capable. It would also be a waste of time and there is no business that wants to waste both their time and money. 3. Integrated devices is being reactive because it was only after a call concerning a recurring manufacturing problem at Plant No.3 that Bill took action. They didn’t act proactively by conducting surveys or having a dedicated process engineer. They also weren’t checking up on the supplier and taking occasional samples so that they could make sure the supplier was continuing to deliver the promised quality, thus holding them accountable. If they had been proactive, this whole situation might have been prevented. 4. The purchasing staff should enter all negotiations with their supplier with clearly defined objectives and goals. They must aim to be successful in their negotiations with suppliers to obtain the best price, and to verify that quality specifications for every item purchases are met. By negotiating quality requirements directly into supplier contracts, the buyer will be able to hold the supplier accountable to the determined...
Words: 1210 - Pages: 5
...Strategic Capacity Planning Capacity – upper limit on the load that an operating unit can handle - Design: Maximum obtainable output under ideal conditions - Effective: Max capacity given current product mix Actual output: rate of output actually achieved – often less than the effective capacity Efficiency = Actual Output/ Effective Capacity Utilization = Actual Output / Design Capacity Factors Influencing Capacity - Facilities and Machines – Floor Space, Layout, machine maintenance - Products/Services – The larger the # of products, increase changeover times, lower effective capacity - Human – Training, Skills, Experience - Planning & Operational - # of shifts per day, bottlenecks, inventory decisions, quality control, procedures, late deliveries, defective purchased material - External – Products standards (Quality & Performance), pollution standards, paper work required by government agencies Strategic Capacity Planning – deals with long term overall capacity levels - Process: Forecast demand 1-5 years ahead -> Determine capacity requirements -> Measure the capacity now and decide how to bridge the gap: (A) Generate feasible alternatives (b) Evaluate alternatives considering economic and non-economic aspects (c) choose best alternative & implement - Growth Patterns: Growth, Decline, Cyclical, Stable - Math – Calculate Annual Capacity, Total Processing Time needed/ Annual Capacity Break Even Analysis - P=TR-TC=Q*r-(FC+Q*v) - Q = (P+FC)/(R-v) – BEP is when...
Words: 1466 - Pages: 6
...We bring good things to life What Is Six Sigma? Impact The Roadmap to Customer Making Customers Feel Six Sigma Quality Globalization and instant access to information, products and services have changed the way our customers conduct business — old business models no longer work. Today’s competitive environment leaves no room for error. We must delight our customers and relentlessly look for new ways to exceed their expectations. This is why Six Sigma Quality has become a part of our culture. What is Six Sigma? First, what it is not. It is not a secret society, a slogan or a cliché. Six Sigma is a highly disciplined process that helps us focus on developing and delivering near-perfect products and services. Why ”Sigma“? The word is a statistical term that measures how far a given process deviates from perfection. The central idea behind Six Sigma is that if you can measure how many “defects” you have in a process, you can systematically figure out how to eliminate them and get as close to “zero defects” as possible. Six Sigma has changed the DNA of GE — it is now the way we work — in everything we do and in every product we design. GE’s Evolution Towards Quality GE began moving towards a focus on quality in the late ‘80s. Work-Out®, the start of our journey, opened our culture to ideas from everyone, everywhere, decimated the bureaucracy and made boundaryless behavior a reflexive, natural part of our culture, thereby creating the learning environment that led...
Words: 1475 - Pages: 6
...Introduction In race to be a leader, most companies are realizing that traditional management, manufacturing processes, and other orthodox approaches, are not enough. More effective methods are needed: • Lean Manufacturing • Six Sigma Lean “Lean is a way to specify value, line up value-creating actions in the best sequence, conduct those activities without interruption whenever someone requests them, and perform them more and more effectively. In short, lean thinking is lean because it provides a way to do more and more with less and less – less human effort, less human equipment, less time, and less space – while coming closer and closer to providing customers with exactly what they want.”- Womack and Jones (1996). “Becoming ‘lean’ is a process of eliminating waste with the goal of creating value.” – Womack & Jones There are FIVE overriding principles to Lean. Identify Customers and Specify Value - The starting point is to recognise that only a small fraction of the total time and effort in any organisation actually adds value for the end customer. By clearly defining Value for a specific product or service from the end customer’s perspective, all the non value activities - or waste - can be targeted for removal. Identify and Map the Value Stream – The Value Stream is the entire set of activities across all parts of the organisation involved in jointly delivering the product or service. This represents the end-to-end process that delivers the value to the...
Words: 5477 - Pages: 22
...SIX SIGMA exam preparation Here you are a pool of 200 questionS . For the exam there will be 50 questions from this pool (different wording, numbers etc. could be used in exam) to create the written or the oral sessions of the exam (words and numbers could be different from the questions presented here.) The Written Exam will start at 9:00 AM and will finish at 12:00 AM You will be allowed to bring in the classroom only a pen and a pencil / rubber and nothing else (no phone, NO pc Nor any other electronic device) the oral exam will start at 12:30 Up to 3 points will be given at the oral exam where we will review the answer given at the written exam and if needed we will choose other questions taken from the pool in order to probe the knowledge gained. The oral exam usually last 15 minutes per candidate. up to 2 points will be assigned by the teacher based on the presence and participation during the entire course. Slides and PDF Books (for your personal reference and interest only) are available on iCorsi. Lean Six Sigma Paolo Rossetti – 2014 – Page 1 of 12 POOLs of QUESTIONS 01 - Six Sigma in a Nutshell 1. 2. 3. 4. 5. 6. 7. 8. 9. What is quality? How Gavin defines quality using different “dimensions”? State and comment the 8 dimensions of quality. Which is the Six Sigma definition of quality? What does CTQ stands for? What types of CTQ exists? Which are the sources of variability in a product? How can variability be expressed in statistical terms? How Edward Deming...
Words: 2896 - Pages: 12
...A product that meets or exceeds its design specifications and is free of defects is said to have high quality of conformance. Preventing, detecting and dealing with defects cause costs that are called quality costs or costs of quality Categories of Cost of Quality Internal Failure Costs The costs of deficiencies discovered before delivery. We associate deficiencies or nonconformities with the failure to meet explicit requirements or implicit needs of external or internal customers. Internal failure costs come from deficiencies discovered before delivery. These include all the costs associated with the failure (nonconformities) to meet the needs of your external and internal customers. This failure cost is one of the 4 key components of quality costs. Examples: • Scrap: The labor, material, and (usually) overhead that created the defective product. The item cannot be economically repaired. The titles are numerous scrap, spoilage, defectives, etc. • Rework: The cost to correct the defective material or errors in service products. • Retest: The cost to retest products after rework or other revision. • Changing processes: The cost of modifying the manufacturing or service processes to correct the deficiencies External Failure Costs External Failure Costs come from costs associated with defects that are found after the customer receives the product or service. These costs included lost opportunities for sales revenue. Lost sales revenue costs would disappear if there...
Words: 690 - Pages: 3
...PowerPoint Problems Chapter 14 – Problem 14 Problem Statement Fujiyama Electronics, Inc. has been having difficulties with circuit boards purchased from an outside supplier. Unacceptable variability occurs between two drilled holes that are supposed to be 5 cm apart on the circuit boards. Thirty samples of 4 boards each were taken from shipments from the supplier as shown in the data from the worksheet Prob. 14-14, listed below. a. Construct [pic] and R charts for these data. b. If the supplier’s plant quality manager admitted that they were experiencing quality problems for shipments 18, 19, and 21, how would that affect your control chart? Show this adjustment on revised [pic] and R charts for these data. Data |1 |4.92 |4.26 |4.94 |4.29 | |2 |4.65 |5.54 |5.00 |5.42 | |3 |5.77 |5.26 |4.76 |4.79 | |4 |6.25 |4.88 |5.66 |4.44 | |5 |5.27 |5.41 |6.02 |4.91 | |6 |5.22 |5.38 |5.08 |4.65 | |7 |5.47 |4.68 |4.56 |4.70 | |8 |5.71 |4.54 |4.17 |4.87 | |9 |5.24 |5.58 |4.72 |5.41 | |10 |4.42 |5.18 |4.79 |4.73 | |11 |5.14 ...
Words: 903 - Pages: 4
...Lock * discussion * history * notify me Details last edit by willzhouchuan willzhouchuan Oct 10, 2006 8:26 pm - 23 revisions hide details Tags * none Protected COVERPAGE- NAMES, id#s AND NAME OF CASE(Please add your student number after your name/thanks) Professor: Dr. Giovani J.C. da Silveira Lodge Karen Koupal Ondrej Miller Alana Ogunsola Oluseun Will Chuan Zhou (328253) Name: Case Analysis of Deutsche Allgemeinversicherung Coverletter?- Addressed to kluck, from consultants If someone can find a sample cover letter for case analysis then I can make it longer Dear Mr. Kluck; We are a 5 member consulting team from University of Calgary, Haykayne Business School and we did a very comprehensive study on Deutsche Allgemeinversicherung's PMV project and its problems, including the problem's background, the competition the company is facing, the firm's current state, Suitability of SPC use in the service industry, Measurement Issues faced at DAV and specific recommendations, the following is our analysis. Cheers Group 4 TABLE OF CONTENTS SYNOPSIS Deutsche Synpnosis Deutsche Allgegeinversicherung, the second largest insurance firm in Germany, had decided to adopt a new quality improvement initiative: PMV in order...
Words: 7454 - Pages: 30
...must be in your own words—significant cut and paste from the text or other sources is not acceptable. (Points : 30) Some categories of measures of balance scorecard are: 1.-Measures Financial Performance Financial performance measures includes: Profitability such as ROI (return on investment), gross profit margin, asset turnover, etc Liquidity such as current ratio, quick ratio Financial performance measures, such as operating income and return on investment, indicate whether the company’s strategy and its implementation are increasing shareholder value. However, financial measures tend to be lagging indicators of the strategy. Firms monitor nonfinancial measures to understand whether they are building or destroying their capabilities—with customers, processes, employees, and systems—for future growth and profitability. Key nonfinancial measures are leading indicators of financial performance, in the sense that improvements in these indicators should lead to better financial performance in the future, while decreases in the nonfinancial indicators (such as customer satisfaction and loyalty, process quality, and employee motivation) generally predict decreased future financial performance 2.-Internal Operational Efficiency Time spent with focus groups to learn about knowledgeable customer preferences, product development lead time, peer review of new products in product development pipeline, number of new models or features introduced each year 3.-Customer perspectives...
Words: 1963 - Pages: 8
