...goods storage and the foundry. Through the years the standards of the department has decreased and Albatross needs to revamp their company to be up to those standards of the US and environmental. Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost a) Cost of Production: Cost of production is $8.00 per pound for mushroom/bell anchors and $11.00 per pound for snag hook anchors. The cost of production definition is the cost of making or acquiring goods and services that directly generates revenue for a firm. It consists of direct and indirect costs. (Cost of Production, 2013) b) Economies of Scale in material purchasing: An economy of scale is the reduction in long-run average and marginal costs arising from an increase in size of an operating unit. (Economies of Scale, 2013) It can be external or internal; external will increase the productivity of the industry and will result in a reduction of costs (External Economies of Scale, 2013) and internal is related to the shift in average production costs for a business as it boosts its overall product output and the average cost per unit falls until maximum efficiency is attained. (Internal Economies of Scale, 2013) Albatross could save money if they bought items in bulk but since they make items as orders are received,...
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...Unit three Written Assignment Katie Cowell MT435 Operations Management Kaplan University July 23, 2012 Introduction Albatross Anchor is a small business that began in 1976 with only four family members working there. Since then Albatross Anchor has grown from only four people to one hundred and thirty people. Albatross anchor is on a small twelve acre lot and is located in a rural suburb town of Falmouth, MA. The plant and the administrative offices are located in the same building. The plant includes the shipping department, receiving department, manufacturing, raw materials storage, finished product storage, and the foundry. The administrative offices are defiantly needed some repairs because they are somewhat shabby, disorganized, and run inefficiently. The plant needs some repairs and some modern advances to it and production of the bell anchor and the snag hook anchor would increase in the company. In 1989, the owners decided to add on the snag hook anchor because of international competition. Technology advances and building repairs are very important at this point of Albatross Anchor. The plant no longer meets U.S. safety and environmental standards which can be unsafe for the one hundred and thirty employees that work at Albatross Anchor. Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for...
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...Introduction Albatross Anchors is a family- owned business which was established in 1976, Smalltown, MA in the United States. Albatross Anchor started with four family members, and has largely grown to one hundred and thirty employees. Their operations consist of varies aspects; manufacturer of bell or mushroom anchors. The Albatross Anchors only distributes their products to wholesale, but not retail service provider. Their building consists of administrative offices, foundry, shipping and receiving, raw materials and finished materials storage, and manufacturing. The building is not in good standards and would rather need remolding. In this case study, I will discuss how to improve Albatross Anchor competitiveness by adding some new process to help bring down the costs of remolding their building to meet the United States environmental ethic laws. Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost a) Cost of Production: Since Albatross Anchor keeps all departments in one building; this keeps the fixed cost down, and lowers expenses in term of variable cost. The cost of manufacturing for the mushroom/bell anchors are $8.00 per pound and $11.00 per pound for the snag hook anchors. The charge per unit is worth the same as their competitors. But, combining all departments under confined building...
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...[pic] ASSIGNMENT: PERFORMANCE APPRAISAL METHOD Performance Appraisal Method Critical Incident Method Definition: This format of performance appraisal is a method which is involved identifying and describing specific incidents where employees did something really well or that needs improving during their performance period. Critical incident is a method used for many sectors. An incident is critical when it illustrates what the employers has done or failed to do. The critical incidents for performance appraisal are a method in which the manager writes down positive and negative performance behavior of employees throughout the performance period. Each employee will be evaluated as such and one’s performance appraisal will be based on the logs that are put in the evaluation form. The manager maintains logs on each employee, whereby he periodically records critical incidents of the workers behavior. At the end of the rating period, these recorded critical incidents are used in the evaluation of the workers’ performance. The critical incidents file of performance appraisal is a form of documentation that reflects all data about employee performances. Most frequently, the critical incidents technique of evaluation is applied to evaluate the performance of superiors rather than of peers of subordinates. Disadvantages of Critical Incident This method suffers however from the following limitations: • Critical...
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...Introduction Life is a process. No one becomes a man before he attains youth age. Also, for a person who wishes to become a postgraduate student of ABSU, he has to follow certain processes. The process follows an inquiry on how much the form costs, payment of same amount into the bank to get the pin with which to register online, submission of credentials and forwarding of transcript, receiving a test message, down to paying of school fees and going from one office to another for the full registration. Just as life and becoming a student entail following certain processes, so is obtaining useful information in form of data for reliable decision making. Thus, we talk of “the Research Process”. Also, to obtain quality data, there is need for the use of effective tool of data collection (Techniques of Research). Before we look into the research process proper, it is necessary to understand what is meant by ‘Research’. Definition of Research Research is a way of solving problem, which the researcher has defined, in the subject area chosen. In general terms, according to Anyanwu (2000:1), research is concerned with finding or searching out something that can aid management in the solution of problems. That is to say that any research that cannot proffer solution to a problem is a waste of resources (time, money and energy). Research as a scientific inquiry calls for various activities. These series of activities are what give us the research process. Meaning of Research Process The research...
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...BUSML 4202 Midterm 1 review What is marketing? The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA) Marketing Research: a means to implement the marketing concept MR is a systematic and objective process of generating information for aid in making marketing decisions. Need to reduce uncertain. Helps focus decision making 4P’s: product, price, promotion, distribution (placement) Three roles of MR: 1. Descriptive role: gathering statements of fact(s) 2. Diagnostic/explanatory role: explaining effects of marketing mix actions or data 3. Predictive role: predicting the results of a planned marketing decision Two types: Applied vs Basic (pure) research Value of MR: • Decreased uncertainty • Increased likelihood of a correct decision • Improved marketing performance and resulting higher profits Step 1: An easy mistake: a symptom is not the problem; a symptom occurs as a result of a problem (‘the iceberg principle’ ) Marketing research Problem (MRP): Asks what information is needed; Information oriented; Focuses on the underlying causes. Management decision Problem (MDP): Asks what the decision...
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...For this task I am going to use the research from class to explain the types of business ownership and the sector which it operates in, the size, the scale, the size of the industry, the liabilities it has and the advantages and disadvantages of the business ownership. Type of Business Ownership and Business Sector | Snac Attack | Cameron Blake Chartered Accountants | Sole Trader- A sole trader is a business which is owned by one person. The owner can employ others but they are their responsibility.A sole trader operates in the private sector. | Business Purpose and Activity – Snac Attack provides a food and drink service to consumers and customers to people in the local area. This business aims to make a profit. | Business Purpose and ActivityCameron Blake Chartered Accountants provides a service to the North East area. They provide customers with a service which can take care of their Financial Accounts. | | Size and scaleThis business operates on a small scale in the local area, Felling. | Size and ScaleThis business operates on a small regional scale. | | SectorSnac Attack operates in the tertiary sector as they provide a service to the customer. | SectorCameron Blake Chartered Accountants operate in the tertiary sector as they provide a service to customers. | | Liabilities This business has unlimited liability. This means that the owner is liable for all the debts of the business meaning that if the business fails the owner’s personal possessions may be taken...
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...Appraisal Almost all organizations practice performance appraisal in one form or another to achieve certain objectives. These objectives may vary from organization to organization or even within the same organization from time to time. It has been found that there are two primary objectives behind the use of this methodology. One is to use it as an evaluation system and second, to use it as a feedback system. The aim of the evaluation system is to identify the performance gap. This means that it helps determine the gap between the actual performance of the employee and that required or desired by the organization. The aim of the feedback system is to inform the employee about the quality of his work or performance. This is an interactive process by which the employee can also speak about his problems to his superior. An effective performance appraisal system should emphasis individual objectives, organizational objectives and also mutual objectives. From the...
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...Submitted to Md. Shakhawat Hossain Lecturer, Department of Management Studies, Faculty of Business Administration and Management Submission date: 15/12/2011 Course code: MST326 Course title: Entrepreneurship development and Business Environment Submitted by GROUP: INNOVATION Level-3, Semester-II Session: 2008-2009 Faculty of Business Administration and Management Patuakhali Science and Technology University Dumki, Patuakhali-8602 Small Scale Industries of Bangladesh: A Case study of some small scale industries A report On ATTENDANCE SHEET Level: 3, Semester: II Course code: MST326 Course title: Entrepreneurship development and Business Environment Report title: Small Scale Industries of Bangladesh: A Case study of some small scale industries Roll. No. | Reg. No. | Name | Signature | 0803019 | 01881 | Dibakar Chandra Das(GL) | | 0803001 | 01862 | Farjana Khanom | | 0803003 | 01864 | Kazi Riasat Muntahi | | 0803011 | 01873 | Kamrun Nnahar Sila | | 0803018 | 01880 | Md.Nazmul Haque | | 0803021 | 01883 | Hasnain Ahamed Asif | | 0803023 | 01885 | Md. Ali Marjan | | 0803026 | 01893 | Md. Saidur Rahman Sajib | | 0803027 | 01894 | Atia Jahan Siddiqa | | 0803037 | 01906 | Tania akter | | 0803042 | 01912 | MD.Mahbub Alam | | | | | | Accepted by: …………………..………… EVALUATION SHEET Level: 3, Semester: II Course code: MST326 Course title: Entrepreneurship development...
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...ASSIGNMENT 2: ECONOMIES AND DESECONOMIES OF SCALE AND HOW THEY AFFECT COST. ECONOMIES OF SCALE When more units of a good or service can be produced on a larger scale with less input costs, then economies of scale are achieved. Economic growth is achieved when economies of scale is realized, this then implies that as a company grows and production units increase, the company will have a better chance to decrease its costs. There economies of scale are the cost advantages that a company obtains due to expansion, which leads to unit cost reduction as the scale of operations increase. There are two sources of economies of scale: internal and external economies. Internal economies are specific to a company while external economies of scale are beneficial to all the entire industry. Internal economies of scale include the following: 1. Labour economies- Increased of labour is a major source of labour economies. The extent of division of labour is preconditioned by the scale of output. As output increases and the labour force grow, a greater degree of specialization, with all its advantages, may become possible. 2. Technical Economies- Technical economies of scale occur when a business invests in new technology and is able to increase production. As a result, production costs per unit will fall. For example: a) Economies of superior technique: * Firms can use high technique and capital goods. * Firms can install high quality machine and capital goods. ...
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...ECONOMICS OF SCALE Name Institution Economics of scale Introduction Economies of scale is the cost advantages by enterprises due to size, input, or scale of operation with cost per unit decreasing with increasing scale as fixed costs are spread out more to units of output (Thatcher, 2009). The reason why some regions are more developed than other regions economically is because they produce their goods more efficiently and hence bringing more profit than competitor's regions. Since economies of scale lay it main focus on having an efficient production this shapes the economic development of regions. This paper is about economies of scale it describes how economies of scale shape the economic development of regions through description of different types of economies of scale and examples of countries and regions around the global (Stamp, 2009). Structure Definition Economies of scale is the cost advantages by enterprises due to size, input, or scale of operation, with cost per unit decreasing with increasing scale as fixed costs are spread out more to units of output. Economies of scale are known to improve with growing firms, therefore; it can be said that the economies of scale are directly proportional to the size of the firm (Stamp, 2009). From a simple firm which produces exercise books, the firm uses £200 to produce 10 exercise books meaning the average cost is £20 if the firm produces 40 exercise books the average cost is £12.The difference here is brought by...
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...system 8.5 Manufacturing process 8.5.1 Types of manufacturing process 8.5.2 Factors affecting the choice of manufacturing process 8.6 Production planning and control 8.6.1 Benefits to small entrepreneur 8.6.2 Steps of production planning and control 8.7 Summary 8.8 Glossary 8.9 Self-Assessment Questions 8.10 Further Readings 8.0 INTRODUCTION After taking decisions about the type of business, its location, layout etc. the entrepreneur steps into the shoe of production manager and attempts to apply managerial principles to the production function in an enterprise. Production is a process whereby raw material is converted into semi finished products and thereby adds to the value of utility of products, which can be measured as the difference between the value of inputs and value of outputs. Production function encompasses the activities of procurement, allocation and utilization of resources. The main objective of production function is to produce the goods and services demanded by the customers in the most efficient and economical way. Therefore efficient management of the production function is of utmost importance in order to achieve this objective. 114 8.1 OBJECTIVES After studying this lesson, you should be able to • • • • • • • Describe the production function and its component Define production management Analyze various factors, which are crucial for designing the production Explain the design of production system and manufacturing process List out the factors influencing...
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...Process Execution User’s Guide Release 11i June 2002 Part No. A97685-01 Oracle Process Manufacturing Oracle Process Manufacturing Process Execution User’s Guide, Release 11i Part No. A97685-01 Copyright © 1996, 2002, Oracle Corporation. All rights reserved. Primary Author: Richard D. Persen Glenn Ruhl, Gina Walsh Contributing Authors: Contributors: Paul Schofield, Karen Theel The Programs (which include both the software and documentation) contain proprietary information of Oracle Corporation; they are provided under a license agreement containing restrictions on use and disclosure and are also protected by copyright, patent and other intellectual and industrial property laws. Reverse engineering, disassembly or decompilation of the Programs, except to the extent required to obtain interoperability with other independently created software or as specified by law, is prohibited. The information contained in this document is subject to change without notice. If you find any problems in the documentation, please report them to us in writing. Oracle Corporation does not warrant that this document is error-free. Except as may be expressly permitted in your license agreement for these Programs, no part of these Programs may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without the express written permission of Oracle Corporation. If the Programs are delivered to the U.S. Government or anyone licensing...
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...international mitigation and adaptation; it is essential that India has clear in-country objectives that are met by the NSM. We believe the Government of India should ensure that: • Needs of poor are met on priority, • Access to technology and Indian technology development should get a boost, • Least cost options for solar capacity are pursued. These principles lead to our recommendations, the details of which are enclosed in this note. The summary points are the following. 1. 2. 3. 4. 5. 6. 7. 8. 9. Larger push for Solar Home Lighting systems for the poor houses in remote villages Tariff-based competitive bidding for utility-scale solar plants Reducing risks for project developers (Solar parks should adopt UMPP principles) Phase I should pilot key solar technologies Large Scale Development of Solar Thermal Power Generation in Phase II Pilot rooftop PV program before large-scale implementation Multiple schemes and policies need to be coordinated Who pays for the NSM? Differentiated instead of uniform...
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...shipping and receiving, raw materials and finished materials storage, and manufacturing. Their building is not up to standards and is very old. In this case study, I will discuss as how to improve Albatross Anchor competitiveness and see if there is a new process to help bring down the costs. Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost a) Cost of Production: Since Albatross Anchor keeps all departments in one building; this keeps the fixed cost down. The cost of manufacturing for the mushroom/bell anchors are $8.00 per pound and $11.00 per pound for the snag hook anchors. The charge the same per unit as their competitors due but since all departments are housed under one building, there are operations inefficiencies. This can bring down their profit margins. This would mean that Albatross Anchor has a cost disadvantage compared to competitors. b) Economies of Scale in material purchasing: “Economies of scale, also called increasing returns to scale, is a term used by economists to refer to the situation in which the cost of producing an additional unit of output (i.e., the marginal cost) of a product (i.e., a good or service) decreases as the volume of output (i.e., the scale of production) increases” (Linux Information Project, 2006). Since Albatross Anchor does production in small...
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