...theory of constraints is a unique management philosophy that strives for a rationale or scientific approach to management. It provides a way to simplify the complexity of human-based systems and still keep the main issues and impacts under managerial control. A constraint is anything that significantly limits the performance of an organization relative to its goal. This also can be external to an organization. The goal of an organization can be described as the single objective that an organization wishes to increase or improve. In achieving its goal, an organization must a set of conditions that vary from one organization or industry to another. According to TOC, there are five original steps to help improve management decision. Starting off with identifying the systems constraints. Once identified, take note that every variable within the organization needs to be fully exploited. From that point, the concept of subordination should be solely directed to support the constraints of the organization and nothing else. Every resource and all processes are targeted at a certain output. The timing and exact characteristics of the output are to be determined by the needs of the system as a whole. Then you finally evaluate alternative ways to elevate one or more of the constraints through predicting the future constraints and their impact on global performance by theoretically employing the first three steps. Be sure to execute the way you have chosen to elevate the current constraints...
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...payment protection insurance: consumer questionnaire | | |WHAT IS THIS QUESTIONNAIRE FOR? | |WHAT DO I NEED TO DO? | |This questionnaire is for consumers to bring a complaint about the | |Please fill in this questionnaire, giving as much information as you can. | |sale of payment protection insurance (PPI). | |It may take you some time to go through the questionnaire and get all your | |It is the standard PPI questionnaire used by most financial businesses| |facts together. | |as well as by the Financial Ombudsman Service. | |But having all the information in one place should mean your case can then | |The questionnaire asks you for the personal and financial details | |be assessed more quickly. | |needed to sort out your complaint. | |For more information on bringing a PPI complaint, phone the Financial | | | |Ombudsman Service on | | | |0300 123 6222 or 0800 121 6222. | section A: about you 1...
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...order for her to allow the fraudulent information to pass through the system. (Hellriegel, pg. 250) Bribes, or spiffs, were typical at BNC and happened on a day-to-day basis according to Sylvia Vega-Sutfin, one of the females and wholesalers for BNC that filed the lawsuit with Colleen. Sylvia claimed that a quite a few underwriters wanted spiffs of $1,000 to $2,500 even if they didn’t approve the mortgages. Her commission checks suffered when she refused to pay off the underwriters and her loan files went missing. Sylvia claimed that her supervisors wanted to make an example of her to others if she complained about not paying off the bribes. (Hellriegel, pg. 250) Colleen claimed that the regional vice president of operations for BNC ignored her complaints after she reported the wholesaler through an email and even brought it up in a meeting that resulted in her leaving the office in an emotional mess. The branch manager at her office also told her that a fellow employee wanted her fired for the complaints she filed against the wholesaler. (Hellriegel, pg. 250) The wholesaler didn’t...
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...Furthermore, I will discuss a few tactics and methods the online scammer uses in their attempt to successfully deceive others. It will provide a profile of those individuals who are victimized by scammers. Finally, it will list the steps being taken to help deal with the issue of online fraud. Scammers: Who They Are And Motives Virtual scam-artists are similar to the traditional scam artists encountered in the real world. Their fundamental motive is greed. However, there is one distinct difference; they utilize a completely different means in their mission to ultimately accomplish their goal of successfully deceiving others. The traditional scammer starts their venture off in a similar manner to that of a business entrepreneur. In regards to financing their operation, a relatively small amount of money is required. It is believed that funds in the range of one hundred to one thousand dollars are needed to allow the operation to get up and running. As little as one individual to as many as twenty can staff a typical operation. Some operations can be small and generally done on one’s spare time, while others may involve full time work and as much as office space. No...
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...actions would you take to satisfy management’s expectations and still maintain your integrity? On March 26, 2002, the SEC charged six Waste Management executive officers for the perpetration of a five- year financial fraud. The following is an article summarizing the SEC’s complaint against these officers: The complaint names Waste Management’s former most senior officers: Dean L. Bun troth, Waste Management’s founder, chairman of the board of direct ors, and chief executive officer during most of the relevant period; Phillip B. Rooney, president and chief operating officer, director, and CEO for a port ion of the relevant period; James E. Koenig, executive vice president and chief financial officer; Thomas C Hau, vice president, corporate controller, and chief accounting officer; Herbert Get4 Senior vice president, general counsel and secretary; and Bruce D. Tobecksen, vice president of finance. According to the complaint, the defendants violated, and aided and abetted violations of anti- fraud, reporting, and record-keeping provisions of the federal securities laws. The Commission is seeking injunctions prohibiting fi4ture violations, disgorgement of defendants’ ill-gotten gains, civil money penalties, and...
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...decision that I want to investigate the complaint of my customers further. In order to understand if there really is a problem I began with speaking with key members of my company to find their opinions on the current customer complaints and their thoughts as to what they believe we should do. Upon speaking with these five members two of which believe that we should take these complaints seriously while the other three believe there is no real issue and that the sales team and better training needs to be implemented. After further review I have decided upon the following. First I have decided we should take into the fact that these customer complaints, though few and have cost the company little money, needs to be taken seriously. I have made the decision based off of the information given to me from my Sales Manager, Bob Yeader and my Customer Service Representative, Monica Milton. I have chosen to take their advice because these two people interact with the customers on a daily basis and I trust that they know what they are talking about and the fact that these complaints are a serious problem. Upon speaking with Monica Milton I realize that it is true that we have lost new customers and I do know they are a small part of our business but the fact is we expended a lot of energy to get them and that is what I want. Along with this she has informed me that some of our current customers are asking about more and better service thus making me realize we need to put some focus...
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...switches which caused cars to either shut off, causes accidents, and defective deployment of airbags. This defect has been known about by the GM Company but they failed to act upon the action and complaints till now. Now GM and other sources claim that they did not have enough evidence to call a major recall of the many vehicles that’s being recalled. The recall even includes the Chevy cobalt’s and the Chevy Cruzes that recently came out. A GM spokesman said that without rigorous analysis, it would be just speculations to assume that these allegations would have anything to do with them and draw any meaningful conclusions that would lead to the recall of many vehicles. Recently, GM has recalled six cars due to defective ignition switches. The problems led to that if it was bumped or weighed down by heavy keys, it will shut the engines and power systems off, and disable airbags. It was bad enough to where the 2003-2007 Saturn ions, the 2006-2007 Chevy HHRs, and Pontiac Solstice and 2007 Chevy sky is no longer in production anymore. Currently, research and investigation is underway to investigate why GM waited so long to take action on these allegations, and why they chose not to act upon this problem till now despite the fact that GM knew long ago about these problems. First off, I would have to relate this to our management category that we discussed because there was poor management done here in the supervision and production part when making and building the vehicles. During this...
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...the fine arts department. They have completed all the requirements of the home life. Now they make it in the big. They are in a whole new league. Their egos have gone from I’ve come from a poor background with local attention to making getting all this attention on a national level. They now have more money than they are use to having. They can now afford the luxuries that everyone else has. The first thing that the buy is the biggest car that is fully loaded, they shop in stores that were never thought of before, because the money wasn’t there. Everybody is their friend, even the people that talked down to them. They were into substance abuse on the low end, and now that they are in the big league they have moved up to the higher end of the substance abuse, they are going out partying every night of the week, they go to the local bar and buys rounds of drinks for everyone. The famous status has now made them aware that the local scene is not enough. Because of their financial status they can now afford to fly out to the West Coast where the partying is better, the substance abuse is greater and they are in the same league as their peers. There is gambling going on; they are getting complimentary hotel rooms because of their status. They are showing off all their jewelry. They have parties every weekend at their new home, the neighbors are complaining about the cars, music the constant flow...
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...pyro technicians, three show designers and twelve pyro technician trainees. The sole proprietor David handles the networking, procurement, scheduling, purchasing, finances and logistics of each fireworks production. He oversees the build of new tubes (where the fireworks are shot from) each June and the training and licensing of the pyro technician trainees. ExpoShows is extremely busy two times a year, once around Fourth of July and again at New Year’s Eve although this year they have procured a contract with Six Flags this year for the month of October working on pyrotechnics for ‘Fright Fest’. In the “off season” David acquires new show contracts and works with the designers on each customer’s unique fireworks display. The company is growing in reputation; last Fourth of July they did five shows, this year they did twelve. Company Strengths: • Shows generally go off with no problems – no problems, good reputation. Good reputation, lots of business. • Financially stable. Many return clients. • Same core crew year after year. Great communication and rapport between crew members for a more cordial work environment. • New trainees every year. Keeps old crew members up to date with latest pyrotechnic laws and regulations not to mention constant refreshment of safety skills. • Safety is mandatory. All crew members are supplied with fire retardant shirts, hard hats and safety glasses. • David treats all crew members (and family members if they are present) to food and drinks...
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...can lead to audit failures. The first is the lack of sound legal system; the second in the circulation of marketing economy was not standard; the third is short of independence; the fourth is that accounting firms and CPA is a lack of professional ethics; the fifth is that CPA don’t have sufficient professional cautions and occupation concerns; the sixth is that quality system is not strict. The Securities and Exchange Commission filed suit on March 26, 2002, against the founder and five other former top officers of Waste Management Inc., charging them with perpetrating a massive financial fraud lasting more than five years. The complaint, filed in U.S. District Court in Chicago, charges that defendants engaged in a systematic scheme to falsify and misrepresent Waste Management's financial results between 1992 and 1997. The complaint names Waste Management's former most senior officers: Dean L. Buntrock, Waste Management's founder, chairman of the board of directors, and chief executive officer during most of the relevant period; Phillip B. Rooney, president and chief operating...
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...center. Eric has a full team of professionals, some of which are very expensive but he doesn’t end up losing any of them. He simply has to start making a profit or Tom O’Reilly may cut costs in the marketing communications department. Eric starts off great. There are a few customers that are angry, like Andrea Torres, who called to ask why she received a bill for $75,000? And another complaint came from Amanda Black, whose client is Walston Scientific, a competitor of Pandemix. Pandemix received help from Eric on some marketing materials. Walston Scientific wasn’t too pleased. However, Eric is starting to make money, so Tom is pleased and feels like he is mentoring Eric. Everyone was angry about Eric’s approach except Tom. No one could understand why Tom couldn’t see that this idea just wasn’t working. A meeting came up and that’s when Tom finally saw some things he didn’t like. The accounting department gave Tom some numbers and it showed that Eric had undercharged a customer. Numerous complaints had reached Tom by that time so this was the last straw. He decided to have a meeting with Eric to discuss some of these issues. In the meeting Tom brought up some of his reservations. Eric seemed to brush over them and tell him what a great job he was doing. He didn’t understand why Tom wasn’t pleased with him. Eric was making money and exceeding what he thought was required of him. The meeting ended and Tom had to make a decision. If I were Eric I would concentrate on...
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...were selling investors like Ambac a "sack of shit." News of internal whistleblowers coming forward from Bear's mortgage servicing division, EMC, was first reported by The Atlantic in May of last year. Ex-EMC analysts admitted they were sometimes told to falsify loan-level performance data provided to the ratings agencies who blessed Bear's billion-dollar deals. But according to depositions and documents in the Ambac lawsuit, Bear's misdeeds went even deeper. They say senior traders under Tom Marano, who was a Senior Managing Director and Global Head of Mortgages for Bear and is now CEO of Ally's mortgage operations, were pocketing cash that should have gone to securities holders after Bear had already sold them bonds and moved the loans off its books. Mike Nierenberg, who ran the adjustable-rate mortgage trading desk at Bear and is now the head of mortgages and securitization for Bank of America, was a key player ensuring the defaulting loans Bear was buying...
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...Executive Summary Jose’s Authentic Mexican Restaurant noticed that tips that waiters were receving were on a drop off also wait times for meals were also taking 20 minutes instead of the normal 12 minutes during peak hours. Management conducted customer surveys during busy hours and received some unfavorable results. The problem with Jose’s Authentic Mexican Restaurant is their service failures and a lack of a systematic approach to analyzing these services. Without a systematic approach to analyzing processes, Jose’s is dropping off on their services and not meeting customer expectations. In creating a systematic approach for Jose’s the service failures became clear. To solve this problem in the short term, the company needs to redesign their processes by hiring additional cooks as well as making sure that these new processes are implemented on a timely schedule. Long term the company should look into adding a proper waiting area where customers are more comfortable waiting for a table. They should also look into adding a bar where those customers who are waiting for tables can purchase drinks. Description Jose’s Authentic Mexican Restaurant is a small restaurant that seats 58 (Krajewski et al., p. 154). The restaurant is located in New England in a business district that is on the edge of a large city (Krajewski et al., p. 154). They offer a wide variety of traditional Mexican cuisine (Krajewski et al., p. 154). Customers are usually seated immediately except...
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...------------------------------------------------- Fraud and forensic accounting in small business’ Tasha S. Barnes ------------------------------------------------- Fraud and forensic accounting in small business’ Tasha S. Barnes Accounting fraud is serious issues for all businesses, but they are especially challenging for small companies that are “cash strapped”. Fraud undermine decision making, lead to financial losses and, in some cases, even force companies to lay off staff or shut their doors. Fraud is a common problem for small businesses. According to the Association of Certified Fraud Examiners (ACFE), 30 percent of all fraud occurs in small companies. That is a disturbing fact considering that the estimated fraud loses for business of all sizes was nearly $2.9 trillion in 2009. Fraud occurs so frequently in small business for a couple of reasons. A common reason is that small companies typically have small or even single-person accounting staffs and limited internal controls; lack of separation of duty. It is typical to have the accountant also be the office manager and receiving clerk. Problems can arise if for no other reason than on one double checks the work. Besides being more susceptible to errors and fraud, small businesses also are less likely to discover them because financial audits are almost never performed. It seems, as though a new scam comes to light every day, with electronic-media inspired frauds such as phishing and spoofing, joining...
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...com/2010/11/identity-theft-and-increase-in.html The Fight Against Identity Theft Over the years people look at identity theft and say, “Oh it won’t happen to me. I don’t have a lot of money for people to want.” The thing is identity theft can happen to any with a Social Security Number, medical insurance, and any information useful to cyber criminals. Identity theft can occur when someone gains unauthorized access to someone’s personally identifying information. According to The Federal Trade Commission, there is about nine million Americans experience some form of identity theft. That number may be subjected to fluctuate because it can be consider both crime fighting tactics and methods that criminals use to steal identities over time but the FTC’s Consumer Sentinel Network received over...
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