...Milton Manufacturing Company Milton Manufacturing Company produces a variety of textiles for distribution to wholesale manufacturers of clothing products. The company’s primary operations are located in Long Island City, New York, with branch factories and warehouses in several surrounding cities. Milton Manufacturing is a closely-held company. Irv Milton is the president of the company. He started the business in 1999 and it grew in revenue from $500,000 to $5.0 million in ten years. However, the revenues declined to $4.5 million in 2010. Net cash flows from all activities also were declining. The company was concerned because it planned to borrow $20 million from the credit markets in the fourth quarter of 2011. Irv Milton met with Ann Plotkin, the chief accounting officer (CAO), on January 15, 2011, to discuss a proposal by Plotkin to control cash outflows. She was not overly concerned about the recent decline in net cash flows from operating activities because these amounts were expected to increase in 2011, as a result of projected higher levels of revenue and cash collections. Plotkin knew that if overall capital expenditures continued to increase at the rate of 26 percent per year, Milton Manufacturing probably would not be able to borrow the $20 million. Therefore, she suggested establishing a new policy to be instituted on a temporary basis. Each plant’s capital expenditures for 2011 would be limited to the level of capital expenditures in 2009. Irv Milton pointedly...
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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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...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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...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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...Case Analysis 2-7: Milton Manufacturing Company Milton Manufacturing Company is a closely-held company has been in business since 1999 when its President Irv Milton first opened the business with its primary operations in Long Island City, New York and factory branches and warehouses in surrounding areas. The business had increased revenue over its first ten years of business from $500,000 in its first year to $5 million in 2008. Facts However, in 2009 revenues declined to $4.5 million along with net cash flows from all activities declining in 2009 as well. Overall capital expenditures for the company have been continually increasing by 26% each year. Milton had planned on borrowing $20 million in the fourth quarter of 2010 from the credit markets. In 2010, current cash flow is expected to increase due to higher projections of revenue and cash collections from the business—and therefore selling and producing more products than currently are. Therefore, when Irv Milton meets with Ann Plotkin, the CAO to discuss plan proposals to deal with these changes in the most effective way possible. Unconcerned about the cash flow decrease, the CAO is more concerned about remaining qualified for the expected $20 million loan and suggests a plan that will put a temporary cap on capital expenditures for 2010 such that the 26% annual increase in capital expenditures will not be an issue this year. The CAO suggests that they be limited to the amount of capital expenditures...
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...Case Analysis 2-7: Milton Manufacturing Company Milton Manufacturing Company is a closely-held company has been in business since 1999 when its President Irv Milton first opened the business with its primary operations in Long Island City, New York and factory branches and warehouses in surrounding areas. The business had increased revenue over its first ten years of business from $500,000 in its first year to $5 million in 2008. Facts However, in 2009 revenues declined to $4.5 million along with net cash flows from all activities declining in 2009 as well. Overall capital expenditures for the company have been continually increasing by 26% each year. Milton had planned on borrowing $20 million in the fourth quarter of 2010 from the credit markets. In 2010, current cash flow is expected to increase due to higher projections of revenue and cash collections from the business—and therefore selling and producing more products than currently are. Therefore, when Irv Milton meets with Ann Plotkin, the CAO to discuss plan proposals to deal with these changes in the most effective way possible. Unconcerned about the cash flow decrease, the CAO is more concerned about remaining qualified for the expected $20 million loan and suggests a plan that will put a temporary cap on capital expenditures for 2010 such that the 26% annual increase in capital expenditures will not be an issue this year. The CAO suggests that they be limited to the amount of capital expenditures in 2008...
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...In this week’s assignment we chose The Hershey Company, also known as Hershey’s, as our organization of interest. As a team we found the longevity and success of The Hershey Company intriguing, for this reason, we decided to research the operations of the organization. The founder of The Hershey Company, Milton Hershey, started his first candy business in 1876. In 1903, The Hershey Company broke ground on their first manufacturing factory Hershey’s, (n.d.). Today Hershey’s can be found in 90 countries all over the world (Hershey’s, n.d.). Over the years the company has expanded in many ways from the products they sell to manufacturing plants and locations. The paper will outline what process design (make to order, make to stock, or batch), The Hershey Company uses in the manufacturing of their products. We will identify two manufacturing processes that we found unique and interesting about The Hershey Company. As a global confectionary leader The Hershey Company’s best known of its eighty brands are Hershey’s, Reese’s peanut butter cups, Kisses, Jolly Rancher and Twizzler’s licorice (Hershey’s, n.d.). The company has also expanded into other markets such as grocery goods, chocolate syrup, and breathe mints. Annual Revenue for the company is over $7.1 billion and over 13,000 employees staff its operations (PR Newswire, 2014). In 2012, Hershey built a new plant which operates with the latest technology 24 hours a day in its original home town with its same name. The...
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...Studio Learning Task 1 – What is Design? Q1. What was the industrial revolution? When did it occur? How did industrialisation lead to the creation of the design profession? How was industrial manufacturing different from the traditional way of making a product and what role did the designer play in creating new products? The industrial revolution, which began in England around the 19th century, was the transition of a once rural and agricultural society into one in which new manufacturing processes were introduced. Industrialisation gave way to more jobs, and with products beginning to be produced in factories or with more advanced equipment, it meant that the product design and the actual production were no longer done by the same person. Q2. Explain what series and mass production means. What other factors over time have contributed to the high turnover and international sales of manufactured products? Mass production, or otherwise known as series production, is the manufacturing of a product in bulk. Mass production reduces wasted resources and shortens the amount of time needed to produce the product as it generally utilizes an assembly line. Q3 Using your own words, explain the meaning of the term “form follows function” and its significance. The supporters of Modernist design and functionalism assumed two things about form follows function. What were they? What do you understand by the meaning of each of these? Explain in your own words. Form follows function...
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...corporations are the sole beneficiaries of such practices, others believe that regardless of intent stakeholders benefit. I believe an organization must implement both profit driving and corporate social responsibility efforts in an effort to successfully maintain their business processes. Views on the benefits of corporate social responsibility differ dramatically across a variety of spectrums. Milton Friedman believes that CSR is in a sense a hypocritical concept due to its end result of greater profit for the corporation as a whole. I personally find this difficult to prove due to the benefits of CSR being challenging and nearly impossible to track within an organization. The business model of grocery store Whole Foods is a good representation of the benefits of incorporating both profit and CSR initiatives as it relates to Conscious Capitalism. In contrast to Friedman’s views, Founder and CEO of Whole Foods John Mackey, stated that he believed that entrepreneurs, not the current investors in a company’s stock, have the right and responsibility to define the purpose of the company in regards to their respective CSR efforts. Through his CSR efforts 5% of profits are donated to philanthropy efforts 5 times a...
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...the Fremont District of California, Solyndra is a company that deals in Solar Energy. Involved in the manufacturing process of Tubular Solar Panels, it’s an unrivalled player in this business. The company also offers a variety of other Solar Product options, as it’s been in the books of most solar manufacturing companies to use Flat panels which are traditional to Solyndra’s PV Solar System. Contrary to the Standardized solar panels as used in Ballast, the Solar Products manufactured by Solyndra are not entitled to be Standard specific. (David 2008). The manufacture and exercise of solar panel have a true ethical implication. There are issues wherein the admission to solar panel and the economic development has led to the distribution of resources that has affected the environment and also due to the usage of exhaustible resources with the purpose of certain kind of ethical values. As the Solyndra’s problem gradually started since 31st August 2011 onwards as the filling of legal plaintiff in the bankruptcy case (chapter 11). It had to receive the payment of more than half a billion which was basically a loan funding from the energy department of US after 2 years, $25.1 million dollars were also added which was generally tax exempt from the California’s Alternative Energy & Advance Transportation Authority (CAEATA), they were also given the permission to provide a helping hand to the Solyndra finance in the process of manufacturing of solar panel development panels (Anderson, 2012)...
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...In this ever-changing world of economics and business operations the definitions of business services and the strategies are ever changing as well. These days the way managers operate and strategize their business policies has taken a stance against the previous operational strategy that a business exists only to make profit without any consideration or regards to anything else in the world as said by the economist Milton Friedman in his essay “deriding the idea that a business had any responsibility other than to maximise its profits within legally and ethically acceptable margins, arguing that ‘a corporate executive is an employee of the owners of the business. A few new theories were introduced in the famous essay written by Milton Friedman. These theories suggested that the only reason a business exists is to make profit and this is done through the actions of all the executives of any business. The only reason an executive is employed is to take decisions that will have a direct affect on the profitability of a business and thus in effect it will be the consequent to the livelihoods of the employees of any corporation. It is exactly for these beliefs that the idea of a socially responsible corporation seems like a far-fetched one in the era when this philosophy was hailed as the cornerstone of the ideology required for any business operation, where the only reason a business existed was to make money and that’s all. The whole argument involves around the case of CSR...
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...Organizations require members to adhere to the established guidelines and ethics to maintain compliance with internal and external directives. The ability of the company to remain profitable without sacrificing ethics is a competitive advantage that will ensure consumer loyalty and enhance its reputation. Additionally, ethical decision-making contributes to a company’s fulfillment of corporate social responsibility. This analysis will describe how ethics and social responsibility influence the development of a strategic plan. Furthermore, it will provide an example of an unethical action and present an alternative method for handling the situation. Influence of Ethics The Free Dictionary.com (2012), defines ethics as a set of principles of right conduct or standards governing the conduct of a person or the members of a profession (Ethics). Although many believe that ethics and business cannot exist simultaneously, the cost of unethical behavior in organizations is unacceptable. According to Wheelen and Hunger (2010), a survey by the Ethics Resource Center of 1,324 employees of 747 U.S. companies found that 48% of employees surveyed said that they had engaged in one or more unethical and/or illegal actions during the past year (p. 76). Because values and ethics vary between industries, cultures, and geographical locations, companies must align its practices with the desires of its stakeholders by developing their strategic plans. Although productivity and profitability remain a key factor...
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