Presentation of Financial Statements Cash Flow

Question: Examine about the Presentation of Financial Statements for Cash Flow. Answer: 1.The different essential proportions are determined for the year 2016 (Damodaran, 2008). Pace of profit for all out resources = (EBIT/Average Total Assets)*100 Normal Total Assets = (29935000 + 28045000)/2 = $ 28,990,000 Proportion for 2016 = (6270000+1560000)/28990000)*100 = 27% Pace of profit for common value = (Net benefit after assessments/Shareholders equity)*100 Proportion for 2016 = (4362000/14215000)*100 = 30.69% Overall revenue = (Net salary/Revenue)*100 Proportion for 2016 = (4362000/55000000)*100 = 7.93% Profit per share = (Net salary Dividends on inclination profits)/Total extraordinary offers Proportion for 2016 = (4362000-50000)/7200000) = 60 pennies Value income proportion = Price per share/Earnings per share Proportion for 2016 = 12/0.6 = 20 Profit yield = (Dividend per share/Price per share)*100 Profit paid per share = (2702000/7200000) = $ 0.375 Proportion for 2016 = (0.375/12)*100 = 3.125 Profit payout = (Dividends per share/Earnings per share)*100 Proportion for 2016 = (0.375/0.6)*100 = 62.5% Current Ratio = Current Assets/Current Liabilities Proportion for 2016 = (12745000/5780000) = 2.21:1 Brisk Ratio = (Current Assets stock)/Current Liabilities Proportion for 2016 = (12745000-7000000)/5780000) = 1:1 Receivables Turnover = Credit Sales/Average receivables Normal Receivables = (4100000 + 3675000)/2 = $ 3,887,500 Expecting all deals were credit deals, credit deals = $ 55,000,000 Proportion for 2016 = (55000000/3887500) = 14.15 days Stock Turnover = Cost of merchandise sold/Average stock Normal Inventory = (7000000+6930000)/2 = $ 6,965,000 Cost of merchandise sold = $ 35,100,000 Proportion for 2016 = (35100000/6965000) = 5.04 days Obligation Ratio = (Total Liabilities/Total Assets)*100 Proportion for 2016 = (15720000/29935000)*100 = 52.5% Times premium earned = EBIT/Interest Charges Proportion for 2016 = (6270000+1560000)/1560000 = 5.02 Resources Turnover = Sales/Total Assets Proportion for 2016 = (55000000/29935000) = 1.84 Benefit Concerning benefit, the organization is better than the business normal which is evident from the companys higher ROE (Return on value) and overall revenue. Be that as it may, the arrival on complete resources is lower than the comparing business normal which is credited to bring down resource turnover of the organization. Furthermore, prevalent benefit in a roundabout way is additionally reflected in the different market proportions whereby the organization has a better EPS as analyzed than the business average while add to moderately higher P/E (Parrino Kidwell, 2011, p.90). Liquidity With respect to liquidity, the organization is substandard compared to the business normal as the current resource and corrosive proportion for the organization are lesser than the business normal. Be that as it may, these proportions are marginally lower than the business normal and along these lines there are no worries with respect to transient liquidity starting at yet going ahead the organization ought to be obliging towards this angle. This is likewise affirmed from the higher occasions premium earned proportion for the organization when contrasted with the business normal (Petty et. al., 2015, p. 103-104). Money related Gearing It is evident that the obligation proportion for the organization is substandard when contrasted with the business normal. This is demonstrative of the way that the organization ought to be circumspect with respect to bringing more obligation up later on as the business hazard may increment and furthermore the obligation cost may increment. Be that as it may, at the present the obligation levels are not a matter of concern (Brigham Ehrhardt ,2013, p. 72). 2. So as to learn, regardless of whether the culinary expert can be found out as an advantage or not, it is basic to break down the meaning of benefit. An advantage might be characterized as any asset from which all things considered, future financial advantages would emerge and it could be constrained by the important substance. In the given case, the culinary expert would prompt future monetary advantages for the eatery through pulling in clients. Be that as it may, the culinary expert can't be controlled as the gourmet expert may leave the activity at any crossroads and the eatery can't compel him to proceed. Furthermore, the eatery on its own will can't move the culinary specialist to some other café or offer the gourmet expert to another café. Henceforth, while the gourmet specialist would bring future financial advantages yet at the same time it would not be named as a benefit. The cooks esteem likewise can't be learned since it isn't clear with respect to what extent the cul inary experts stay would be at the eatery (AASB, 2011). Models concerning need of budgetary data are demonstrated as follows. Supervisor of HR He/She would need to take choices concerning future work necessity and their precise range of abilities, the sort of preparing that must be conceded to people dependent on their profitability at the particular employment, recruiting people dependent on the specific creation and request design alongside guaranteeing that proper compensation bundles and motivations are planned remembering the condition of the organization and its exhibition (Damodaran, 2008). Processing plant supervisor: He/She would need to take choices with respect to add up to creation and the creation blend which would be founded on bookkeeping data, for example, past deals and future conjecture. Also, key choices would be required concerning keeping the expenses inside as far as possible and make endeavors to lessen the equivalent in order to boost the productivity edges. Plus, different overheads costs, for example, those brought about for guaranteeing word related wellbeing alongside representative security likewise should be thought of (Petty et. al., 2015, p.5-6). The board of an AFL club: The administration needs to take basic choice concerning the player determination and hidden expense alongside the expense of the instructing staff. Also, dynamic would should be finished concerning the instructing staff cost alongside the overhead expense related with preparing scene and gear (Parrino Kidwell, 2011, p.4-5). The administrator of a recycled garments noble cause: The chief would need to settle on choice with respect to the measure of recycled garments and hence the measure of assortment focuses and their individual area. Further, these would should be prepared further with the goal that they could be given to the needful and courses of action can be made so this recycled material can be gotten to and reasonably handled in an opportune way (Brealey, Myers Allen, 2008, p. 35). C) The effect of the different exchanges on the budget summaries is examined underneath (Brealey, Myers Allen, 2008, p. 732-734). There would be an expansion of a non-current resource for example hardware while a decline of a current resource for example money in a critical position sheet. Further, there would an abatement in the general income because of a surge by virtue of putting exercises in the income proclamation. There would an expansion in the current resource to be specific record receivable. Moreover, the pay would likewise build which would prompt increment in investors value as higher held profit. There would a decline in the current resource for example money which would be adjusted by a similar reduction in the risk since it has been paid. Further, in the income articulation there would be a reduction in the money which is well on the way to emerge from working exercises. With respect to the monetary record, there would be an expansion in the current resource for example money while there would likewise be an expansion in the value for example share capital. Additionally, there would be an expansion in the money inflow from financing exercises in the income articulation. Likewise, the value would increment in proclamation catching value change. With respect to the asset report, there would be an expansion in real money close by which would be adjusted by a decline in the measure of records receivable. Additionally, the money would increment from working exercises in the income proclamation. With respect to the accounting report, there is a diminishing in the current resource for example money and furthermore the value would diminish by virtue of lower held profit. The costs would increment and thus would prompt abatement in the salary. Therefore, there would be a diminishing in the money inflow emerging from working exercises of the income proclamation. With respect to the monetary record, there would an expansion in the current risk because of records payable which would be adjusted by a diminishing in the investors value. The cost would increment in the pay explanation and in value change proclamation, the value would diminish because of decrease in the pay. With respect to the monetary record, there would an expansion in the current resource for example money while the non-current resource would diminish because of offer of gear. Likewise, if the offer of hardware includes some benefit, the value would likewise increment. Further, in the event of benefit at a bargain, the pay would increment in the salary proclamation. Because of money inflow from contributing exercises, there would an expansion in real money in the income proclamation. Likewise, if there should be an occurrence of benefit, value should be expanded in value change articulation. With respect to the monetary record, there would be a reduction in the current resource for example money and furthermore proportionate lessening in the offer capital or value. Likewise, there would be expanded money surge by virtue of financing exercises which would diminish the money in the income articulation. Further, the value would be diminished in the value change articulation. Concerning the accounting report, there would be an expansion in the current resources for example money while the non-current obligation would increment as borrowings. Additionally, there would be expanded money inflow by virtue of financing exercises which would prompt increment in real money in the income articulation. References AASB 2011, Presentation of Financial Statements, AASB Website, Available online from https://www.aasb.gov.au/administrator/document/content105/c9/AASB101_09-07_COMPmay11_07-1

Essay on The Holy Bible - Comparing Identity in the Tower of Babel and

Character in the Tower of Babel and Creation Stories God perceives that individuals are not explicitly acceptable the second He makes them; for not at all like His different manifestations, He doesn't articulate them all things considered. Yet in addition not at all like His different manifestations, they are the main ones made like something different, similar to God, in His picture. On the off chance that they are really to exist and be acceptable, they should get discrete from God, as different manifestations are isolated and sorted. It makes some human move to get them out of the Garden of Eden- - explicitly, the lady and the man eating the natural product. Lamentably, they can't do everything all alone. They need some impedance from God, specifically the flood, to remove themselves further from Him and to isolate them exclusively, from one another. In spite of the fact that the individuals in the Babel story don't practice it well overall, the capacity to name, to characterize, to isolate, and to order appears to be a tremendous f orce, and even a benefit. To turn out to be completely human men must separate themselves from God. At the point when God sends the flood. He isolates Himself from them by placing the world into their hands, as though to state, There you go, you're grown up now, you deal with it. The endowment of the Earth ought to be God's last dynamic endeavor at partition; from that point on the people should attempt to isolate themselves from Him all alone. Be that as it may, similar to feathered creatures kicked out of the home who attempt to move back up the tree, they attempt to construct the pinnacle to paradise; and by and by, God must mediate by making considerably more noteworthy distinction. This time He confounds their dialects so they are not quite the same as God as well as not the same as one another. Both God and humans comprehend the colossal intensity of language and of naming. For instance, at one point . .... ...er He changes their dialects first, and they disperse themselves once they understand they can't comprehend each other. The previous translation is most likely progressively precise, however both show how separation, both physical and allegorical, makes contrast. What's more, for this situation it is a distinction that makes collaboration, and the pinnacle which would overcome any issues among earth and paradise, just as the hole among man and God, incomprehensible. Accordingly, by being unique in relation to one another, the dissipated individuals of Babel become considerably progressively not the same as God. In spite of the issues that emerge from contrast (in particular clash), it is vital for people to be unmistakable from each other on the grounds that they have to acquire personality, both as a race of creatures and as people, isolated and distinctive from God, yet from each other. Work Cited 1 The Holy Bible, Authorized (King James) Version.

Best Test Optional National Universities TKG

Best Test Optional National Universities By: Caroline KoppelmanAs we mentioned last week, many colleges are moving towards becoming test optional. Liberal arts schools are definitely leading this trend, but some top universities have hopped on board. Here is a list of the top test optional national universities.  Wake Forest University  Brandeis University  University of Texas - Austin  George Washington University  Worcester Polytechnic Institute  Texas AM University  American University  Clark University  University of Delaware  Duquesne University  Temple University  University of Arizona  DePaul University  The Catholic University of America  The New School  Arizona State University  Hofstra University  George Mason University  University of Mississippi  University of Texas - DallasWashington State University  Kansas State University  University of Massachusetts - Lowell  Virginia Commonwealth University  University of Nevada - Reno

Customer Relationship Management Essay - 4424 Words

Customer Relationship Management A relative of mine works for a corporate firm on CRM (Customer Relationship Management) software. He told me that their company is doing well with their CRM initiative while most of the other companies, using different software, are not achieving their goal of customer satisfaction. That gave me a big click of interest towards my research topic and I came up with a research questions as â€Å"How to avoid CRM failure?† and how to choose a best CRM software vendor? Customer Relationship Management is an interactive process for achieving the optimum balance between corporate investments and the satisfaction of customer needs to generate the maximum profit. CRM refers to management of all†¦show more content†¦Headquartered in Stamford, Connecticut, the company consists of 4,600 associates, including 1,400 research analysts and consultants, in more than 80 locations worldwide. Bad economic times have forced companies into a major spending retrenchment, compelling them to put projects without immediate and obvious returns on investments on the back burner; and though many companies have begun implementing CRM solutions, they are still losing customers in droves, begging the question of whether CRM implementations were worthwhile in the first place. These factors have driven some CRM vendors out of business while others are fighting to consolidate, leading to a moderate instability in the CRM market. None of the CRM initiatives are meeting the customer needs thus causing CRM Failure. The basic management problem or dilemma for any organization is â€Å"How to avoid CRM Failure?† This raises research questions like â€Å"Which is the best software vendor to rely on?† and â€Å"What are the different issues concerned with failure in different software products?† Following are the problems faced by different corporate executives in the corporate world in implementing CRM and by going through these will give a decision making executive an idea of what every one is suggesting in the market. Current Market talk: What are the problems faced by others in the market? Mack Sorrells, president of the Mack W. Sorrells Company Inc., in Rock Wall, Texas, whichShow MoreRelatedCustomer Relationship Management Systems And Customer Relationships1128 Words   |  5 Pagesrepresentative of the business, and a customer. The customer has a problem or need and the salesperson seeks to address it. From the first line of communication, the salesperson assesses the situation and decides the best solution from their product or service line. Using intuition and skill, the representative leads the customer into buying the best product with hopes of turning a profit. Every exchange is important and will often determine if they customer will return to the business the next timeRead MoreCustomer Relationship Management1204 Words   |  5 PagesCRM Customer Relationship Management CRM is a Strategy Most people believe that CRM is just a system that will run their business without making any efforts which is totally wrong. The CRM is a strategy that is run by people to acquire, manage, select, grow and retain a strong relationship with the right customers with the best long-term profit potential. This cannot be done with a CRM system without a good strategy that puts the employees on the right track. The CRM System Read MoreCustomer Relationship Management : Definitions Of Customer Relationships966 Words   |  4 Pages2.1.1. Customer relationship management Definitions of customer relationship management Kumar and Reinartz (2012, p.4) defined CRM as a process companies analyse marketing database and leverage communication technologies to find practices and methods to maximise lifetime value of each customer to the firms. In this definition, the authors focus on customer value which is the economic value customers receive after they interact with the organisations. The most important part of a CRM strategy isRead MoreCustomer Relationship Management1220 Words   |  5 PagesIntroduction Customer Relationship Management (CRM) is an important part of any companies sales mix. As part of a sales mix, companies must have a strong sales team; a well planned and executed marketing strategy, and a method to record pertinent information to manage customer relations. A CRM system is an important part in any company. They have a variety of uses from holding basic information such as names and address, to holding other information including relationship history, contract informationRead MoreCustomer Relationships Management2150 Words   |  9 PagesCustomer relationship management (CRM) is a business philosophy and set of strategies, programs, and systems that focuses on identifying and building loyalty with a retailer’s most valued customers (Levy, Weitz 275). A loyal customer is one who is committed to purchasing merchandise and services from a specific retailer, he or she resists the efforts of competitors, and also has an emotional attachment to a retailer. The fou r steps involved in the formation of a CRM program are collecting customerRead MoreCustomer Relationship Management4209 Words   |  17 PagesFACULTY OF MANAGEMENT STRATEGIC MANAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Abstract Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implicationsRead MoreCustomer Relationship Management16994 Words   |  68 PagesCustomer Relationship Management SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES (SIMS) Dissertation on Customer Relationship Management Submitted By: Ayush Singh Roll no:09 PRN No:68211 Class- 2(D) Semester: Fourth Semester Date required:18/2/2008 Date of Submission: 18/2/2008 Assignment Grade: Comments of the Faculty: 1 Customer Relationship Management CONCEPT OF CRM INTRODUCTION TO CRM CRM (Customer Relationship Management) has been growing steadilyRead MoreCustomer Relationship Management20711 Words   |  83 PagesThe impact of customer relationship management on the financial performance of an organization 1 Chapter 1-Introduction The impact of customer relationship management on the financial performance of an organization 2 1.1 Introduction This chapter provides an overview of the dissertation in brief. Background of the study and rationale of the study are discussed in the first half. Then this chapter goes on to explain six research objectives and two research questions. Finally structure of Read MoreCustomer Relationship Management1754 Words   |  8 PagesCUSTOMER RELATION MANAGEMENT †¢ MODULE CUSTOMER MANAGEMENT †¢ LECTURER DR GEOFF WINTER †¢ TOPIC CUSTOMER RELATION MANAGEMENT. †¢ SUBMITED BY MUHAMMAD AMIR †¢ I.D. 39644 †¢ GROUP D TABLE OF CONTENT 1. EXECUTIVE SUMMARY 2. DEFINITION OF CUSTOMER RELATION MANAGEMENT 3. QCI CUSTOMER MANAGEMENT MODEL 4. DISCUSSION 5. CONCLUSION 6. CITATIONS EXECUTIVE SUMMARY This paper discussRead MoreProjects: Customer Relationship Management and Customers10208 Words   |  41 Pagesâ€Å"EFFECTIVENESS OF CUSTOMER RELATIONSHIP MANAGEMENT PROGRAMME IN STATE BANK OF INDIA† Submitted In The Partial Fulfillment Of Degree Of MBA Batch 2006-08 SUBMITTED TO: - SUBMITTED BY:- Mrs. Riya Sharma Rishi Gupta (Project Guide) Roll no. 0471483906 [pic] MAHARAJA AGRASEN INSTITUE OF TECHNOLOGY PSP AREA, SECTOR-22 ROHINI, DELHI—110085 Ph: 25489493- WHOM

Human Trafficking Of Thailand s Fishing Industry

Human Trafficking in Thailand’s Fishing Industry Twenty-seven million people have become victims of human trafficking across the world. This transnational crime generates 32 billion dollars annually by the human trafficking industry. Victims of this crime are traded for most commonly the purposes of sexual slavery, forced labor or commercial sexual exploitation, extraction of organ or tissues, or even forced marriage. This is a violation of human rights because of coercion and commercial exploitation (â€Å"Human Trafficking.† Wikipedia). 161 countries have been identified as affected by human trafficking according to the Polaris Project (â€Å"Human Trafficking Statistics†). Recently, Thailand, a source, destination, and transit country for men,†¦show more content†¦Unless the Thai government directs pressures upon the Thai Fishing industry and their secretive methodology of capturing and refraining victims, Thailand will see no results in the fight against human trafficking in the labor industry. Although t he Thai government has been showing progress and promises, the unregulated fishing industry allows for victims be more vulnerable to trafficking so it is crucial for the government to implement strict laws within the Thai fishing industry, Thai navy, and local police officials. The heavy reliance that boat owners have on brokers and the corrupt officials that partner up with the labor industry for profit are pulling down the anchor for results to take fruit. Learning from new investigations put into sale, Thailand has been repeatedly accused of slavery within their fishing industry with vast evidence of abuse and exploitation migrant fisherman (â€Å"Thailand ignoring slaves†). Thailand is the world’s largest prawn exporter in vast seafood and their export industry is estimated to be worth $7.3 billion. The Thai government estimates that up to 300,000 people work in its fishing industry, 90% of whom are migrants vulnerable to being tricked, trafficked and sold to the sea (â€Å"Revealed: Asian slave†). These salves are forced to work for no pay for years and are controlled through threats of extreme violence. A six-month investigation confirmed that large numbers of men are bought and sold

Should College Athletes Be Paid - 1110 Words

Paying College Athletes The NCAA Football Bowl Championship Series (BCS) has finally arrived, and the National Championship awaits the semi-final winners. What also awaits, is about a 50 million dollar payout from the NCAA, to the winning university. This is just a very tiny portion of the amount of money the NCAA earns in revenue each year from 23 different sports and over 150 universities. On the other hand, the players competing for these titles will earn no money whatsoever. Is this Fair? At first glance some may think it is not. Sure, these athletes are the cows truly bringing in the cash, but there are many compelling reasons why the college athlete is not and should not be paid. The facts are that the money earned from the NCAA is redistributed to the universities each year for many beneficial reasons, college athletes already earn compensation for tuition and school expenses, and paying these athletes would be far too complex and unequal to all players, sports, and universiti es. College sports are big money makers, at least that’s what most people think, right? The truth is they are, but out of the 23 sports managed by the NCAA, the only college sports that really make money is Division I basketball and football. And out of these sports, the only ones who will earn money is the universities who make it to the playoffs and championships. In 2012, it is reported that the NCAA earned just over $870 million dollars. 96 percent of the money comes from media rights,Show MoreRelatedShould College Athletes Be Paid?1578 Words   |  7 PagesAshay Mehta Nou Per 8 Should College Athletes Be Paid? One of the hottest debates in the sports industry is if college athletes should be paid. If you want to pay these athletes, how would the college determine the dollar amount that should be paid? Should the basketball team make more than the football team? Should the the soccer team be paid as well? Cheerleading? Chess team? Should everyone on the team get a salary? What if your college is good at football and your basketball team is awfulRead MoreShould College Athletes Be Paid?1398 Words   |  6 Pagesbelieve that college athletes at the highest performing schools are better treated than others. Although they do not get paid, they do receive some benefits for being athletes that other students would not get. One advantage for playing a sport is access to scholarships that some schools reserve for their athletes. Depending on the school and the athlete’s performance, money towards tuition is often given. Only some schools are willing to grant â€Å"full-ride† scholar ships for certain athletes. AccordingRead MoreShould College Athletes Be Paid?1289 Words   |  6 PagesThroughout the years college sports have been about the love of the game, filled with adrenaline moments. However, the following question still remains: Should college athletes get paid to play sports in college? Seemingly, this debate has been endless, yet the questions have gone unanswered. The National Collegiate Athletics Association (NCAA) plays a vital role in this debate. The NCAA is a billion dollar industry, but yet sees that the athlete should get paid for their hard work and dedicationRead MoreShould College Athletes Be Paid?1334 Words   |  6 Pagesrising to the surface is â€Å"Should college athletes be paid?†. This has become a burning question. The NCAA is a multibillion-dollar industry, that makes millions, if not billions, in revenue. Yet it’s still maintains the non-profit status meaning that the industry is not set on making a profit and none of the revenue that is made is distributed to its members, managers, or officers. While most players who play in college sports are under a scholarship, that pays for the college tuition, books, and housingRead MoreShould College Athletes Be Paid?1364 Words   |  6 PagesHave you paid attention to all of the news that has been surfacing about collegiate sports lately? It is a big topic now days in the world of sports on weather college athletes should be getting paid to play sports. College athletics have gained great popularity of the past few decades, and have brought schools lots of revenue. A lot of college athletes think they should be getting paid for their services they do for their school. College sports like basketball and football generate over six billionRead MoreShould College Athletes Be Paid?1130 Words   |  5 PagesWhat college athlete would not want to be paid to play the sport that he or she loves? The real question is, though, should college athletes be paid fo r their roles in a college’s athletics? They are many points to each side of this recent controversial topic, which is why this has been made into such a hot debate in the past couple of years. As of right now, these athletes are not getting paid, but many of them truly believe that they should. Others believe that they already are being paid throughRead MoreShould College Athletes Be Paid?986 Words   |  4 PagesPaying the College Athlete The college athlete has steadily grown in popularity in the United States over the span of the past decades. Monetarily speaking, this increased publicity has been extremely beneficial for National Athletic Association (NCAA) and all the colleges involved in athletics which has sparked the dispute of whether or not the athlete should be paid for their hard work and dedication on the field and to their school or if the athletic scholarship is more than enough. College athletesRead MoreShould College Athletes Be Paid?1239 Words   |  5 PagesLindsey Simmerman Speech 102 T/Th 1:00-2:15 October 25, 2016 Should college athletes be paid to play? 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The colleges that win their Division title, their Conference title, or the National championship, give bonuses to the Head coach of thatRead MoreCollege Athletes Should Not Be Paid1558 Words   |  7 Pagesstudent-athletes participate in a variety of different s ports, and currently they do not receive paychecks for their performances. College athletics have attained an extensive popularity increase among Americans over the past few decades. This has resulted into increased revenues for the National Collegiate Athletic Association [NCAA] and the participating colleges, which has fuelled the debate of whether or not college athletes should collect an income. College athletes should not be paid to play

Subcultures in Organization free essay sample

Discuss whether an organization might be better considered as consisting of many sub-cultures which are conceptually different, rather than one major culture. * An introduction Culture, whether in some organization or society, is about people. People play a key role in culture. People create culture.And because people are individual units with different opinions, values, goals, attitudes, wants and needs but at the same time they interact with other people, they share all of these things with others on the base of the communication and they influence each other, so naturally it leads to exchange of their opinions, many confrontation and inflicts. But confrontation and conflicts do not always mean something wrong, it can bring improvement, progress, and change. And likewise, it goes the same in organizations. One person is equal to one opinion in some particular issue.And nobody can say this is a good or bad way or decision. For somebody it is obvious that some manner is the best and for another person it can mean something totally different. We will write a custom essay sample on Subcultures in Organization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page More people, more opinions and more points of view. Sometimes it can make more difficulties and another time make things easier. That is why it is not easy and clear to say whether an organization might be better considered as consisting of many sub-cultures which are conceptually different, rather than one major culture. Because we have to take into account all of these things which I mentioned before.In this essay I try to assess all factors related to corporate culture and its sub- cultures and find out pros and cons of one major culture and sub-cultures in the organization. * A central part In the beginning lets have a look at two basic terms which are fundamental in this topic. These are corporate culture and sub-culture. Everybody knows what to imagine under these words. But everybody can imagine something else, each of us perceives corporate culture differently and this is the reason why there exist a lot of definitions of culture. Of course will not write down many definitions here but I would like to mention just one which on my opinion is the most apposite. According to Andrew Brown (1995, 1998) who stated the definition of organizational culture in his book Organizational Culture is the following: Organizational culture refers to the pattern of beliefs, values and learned ways of coping with experience that have developed during the course of an organizations history, and which tend to e manifested in its material arrangements and in the behaviors of its members. Simply said, organizational culture is everything what surrounds us at work. Organizational culture influences everything what it happens in a company, companys SUCCeSS and efficiency. When we are taking into account two companies with the same technological equipment, so theoretically they should be equally successful, but they are not. Why? The answer is different corporate culture. Corporate culture can support strategy and companys goals but on the other side it can mean for company obstacles in progress, higher cost and low competitiveness. Every organizational culture can contain many sub-cultures. And sub-culture in organization is the second very important term which want to mention. We can say that sub-culture is natural phenomenon within the company and a subgroup of a larger organizational culture with the unique values and beliefs. Subcultures are caused by a particular employees interests, different levels of management (e. G. Hand worker x manager) different functional areas (people have another scope of employment or solve totally different types of problems or With the same scope of employment but with insufficient cooperation e. Human resources x Informatics) or by large distance within the same organization. In many cases the presence of sub-cultures is desirable for company and positive but the culture in the company has to be dominant and people within the sub-cultures have to follow common goals and values. In other cases it is counter-productive and subcultures deny dominant culture and they can damage the whole company because subcultures can get in to the conflict and complicate integration and coordination within the organization.For dominant culture are typical definite communication within the company, Lear companys goal and values, desirable behavior, uniform attitudes and following quick decision making and planning and increasing motivation and team belonging. The majority of company believes in the core values of organization. But the strong cultures have to deal with some problems as less flexibility, sticking to the past experience; company is not too willing to accept change, isolation from the surrounding environment and information.On the other hand there exist weak co rporate cultures where there are really bad communication among members of company, variety of opinions and values and people do not follow companys core ideas. If the managers do not support meetings, cooperation a communication among employees, sharing information and experience, then people look for their own way how to communicate, solve the problems, make decisions and set up the priorities according to their own values, needs and wants. * A conclusion And back to the question what is betted? One company 1 culture or 1 company = many subcultures?Do we want one major culture where the well defined values and principles will be followed by almost all employees in the company? If course, we do. But what will be happening if these values and rainfalls are not so clearly defined and managers do not follow it? Or these values are considered as fundamental and unchangeable and company never wants to accept another new approach although things are changing with time. The company finds itself in crisis. And what about the other possibility? What about the presence of some subcultures in the company? The one strong culture and co-existed other subcultures?Subcultures which are different from each other, with different values, needs, behavior for example according to level of management or function but still identifying with the core values of dominant culture of the company. But what will be happening in the case that the cul ture is not so dominant? Then people in the subcultures will have totally different opinions, they will follow other values and the goal of the company will be different and company will have big difficulties to achieve their goals, satisfy their employees and also customers, the communication will be confused and a lot of conflicts will be occurred.So how to get to the ideal solution? As we know nothing is ideal but we can try to get to ideal solution as closer as possible. In case of one main culture and other subcultures on my opinion the organization should insist on clear and accurate definitions of its strategy, mission the fundamental purpose of the organization, what business the company is, vision where does company wish to go? , core values what are the desired behavior and characters, attitudes and etc. Also another really important thing is clear formulation of well-arranged conditions of work, e. G. Squired ways of behavior at work (dress code, manners), assessment, remuneration, education and trainings (mandatory or voluntary) Of employees. Company should inform their employees not only about changes but also about all things mentioned above as much as possible. Each a new employee should be familiarized with companys strategy, its values, mission, vision and so on. Company should also support communication among particular subcultures for example organizing regular meeting where they will make them acquainted with all news in each subculture, with changes, outcomes, future plans and all important things which happened.Another advice which I would recommend is to arrange demodulating activities and trips, comma my-wide actions (cultural, sport, charity) which converge employees together. And managers also take care of different opinions and values of his employees and appropriately titivated them. In case of the one dominant culture without any subcultures in the company would recommend to target the opened mind during a decision making and take into account and assess more alternative than one and for example the company can hire some external experts in a lot of tasks because they can bring a lot of new ideas into the company.Also an employee participation in many staff trainings, courses and seminars and their exchange of experience there can help to see things in a different light. Because nowadays the life is going really fast, things are change every day, genealogical progress and also peoples thinking as well that is why think that company should be open to all changes, new approaches and methods so on my opinion and with respect to present time the one strong culture with many subcultures is the most suitable for companies.And we have to take into account th at organizational culture is not important only for current employees of the company but also for new coming employees; sometimes people prefer atmosphere in the company to for example salary. And corporate culture gives current employees some confidence what direction he company will take and what they can expect. Because when we have a look at this fast going and changing world it is clear and understandable that people need security jobs and income and the right corporate culture can help to find it and also maintain it.

Us History Industrial Age free essay sample

Iron was driven by demand for iron rails for railroads. Steel was developed by Henry Bessemer and William Kelly. It converted iron into versatile steel. Steel benefited the use of locomotives, steel rails, and girders for tall construction buildings. Steel can be used for coal. Together they can make furnaces and other technology well-built. The Airplane and the Automobile These two technological innovations had the farthest reaching impact in the US. Creation of gas helped powered engines. This invented fueled oil.Nicolas August Otto created gas-powered four-stroke engine, which was a precursor to automobile engines. The Wright Brows. Intended the first airplane and tested it near Kitty Hawk, North Carolina. Design came from France and the US approved of the new technology for transportation. Many were built and used for many purposes. It was a significant presence in Europe during World War 1. Research and Development The rapid development of new industrial technologies have made great changed in industry. We will write a custom essay sample on Us History Industrial Age or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There were emergence of laboratories where people research technology that can be made using electricity and fuel.Engineers in and out of universities became tied up with research and development agendas of corporations. Some Europeans joined with American engineers in corporate research and development laboratories. The Science of Production The growth of automobile and other industries were changes in techniques of production. Industrialists began embracing Tailors after theoretician Frederick Winslow Taylor. He argued the possible change to manage human behavior to make it compatible with demands of the machine age. With more tasks of working men, production will increase.The most important change in production in technology in the industrial era was the emergence of mass production and, along with it, the moving assembly line, which Henry Ford introduced in his automobile plants in 1914. There was an emergence of automobile production where England works on motors for engines. Some motors were used by electricity or by fuel. Henry ford introduced his Model T and had become a standard for many other industries. Railroad Expansion and the Corporation The principal agent of industrial development in the late nineteenth century was the expansion of railroads.They gave industrialists access to distant markets and distant sources of raw materials. Largest businesses and created new forms of corporate organization. They were biggest investors, stimulating economic growth through their own expenditures on construction and equipment. Rockefeller had expanded only horizontally. But soon he began expanding vertically. He built his own barrel factories, terminal warehouses, and pipelines. Standard Oil owned freight cars and developed its own marketing organization.He had established such dominance within petroleum industry that too much of the nation he served as a leading symbol of monopoly. Survival of the Fittest The new industrial economy was not shrinking opportunities for individual advancement. It was providing every individual with a chance to succeed and attain great wealth. Most tycoons continued to claim that they attained their wealth and power through hard work, acquisitiveness, and thrift. Those who succeeded, they argued, deserved their success, and those who failed had earned their failure through their own laziness, stupidity or carelessness.Assumptions became the basis Of a popular social theory of the late nineteenth century: Social Darwinism, the application of Charles Darnings laws of evolution and natural selection among species to human society. Just as only the fittest survived in the process of evolution, the Social Darwinist argued. So in human society only the fittest individuals survived and flourished in the marketplace. The Gospel of Wealth Some businessmen attempted to temper the harsh philosophy of Social Darwinism with a gentler, if in some ways equally self-serving idea: the gospel of wealth. People of great wealth, had not only great power but great responsibilities. The notion of private wealth as a public blessing existed alongside another popular concept: the notion of great wealth as something available to all. Horopito Alger was the most famous promoter Of the SUCCeSS story. He is a writer that wrote novels that had a basic story of one starting off s nothing and then becoming as something extraordinary. The purpose of his writing was twofold. He wanted to influence upon social classes with writing, which will hopefully inspire them to achieve. Alternative Visions Alongside the justifications for great wealth stood a group of alternative philosophies, challenging the corporate ethos and at times capitalism. Lester Frank Ward, a sociologist argued that civilization was not governed by natural selection but by human intelligence, which was capable of shaping society. Other Americans adapted more radical approaches to reform. Other radicals aimed a wider following. Henry George blamed social problems on the ability of few monopolists to grow wealthy as a result of rising land values.He proposed a single tax on land, to replace all other taxes, which would return the increment to people. The tax would destroy monopolies, distribute wealth more equally. The Problems of Monopoly A few Americans shared their views Of those who questioned about the capitalism. People started to be concerned about the growth of monopoly. Wide range of groups had begun to assail monopoly and economic concentration. They blamed monopoly creating high prices. Monopolistic industries could charge whatever prices they wished; railroads, in particular, charged very high rates along some routes because, because they had no choice.The Immigrant Work Force Industrial work force expanded in the late nineteenth century. Expansion was a massive migration into industrial cities. First: Continue flow of rural Americans into factories, towns, and cities. Second: Was the great wave Of immigration from abroad. Many immigrants came from Canada, Europe, Asia etc. They industrialized work force. New immigrants were coming to America in part to escape poverty and oppression in their homelands. Europeans emerged as a major source of labor for mining industry.Chinese and Mexicans competed with Anglo-Americans and African Americans in mining, farm work, and factory labor in California, Colorado and Texas. Wages and Working Conditions The average income of American workers was $400 to $500 a year. Workers did not have much job security. All were vulnerable to the boom-and-bust cycle of the industrial economy. Some lost their jobs because of technological advances. American laborers faced hardships. First-generation workers accustomed to the patterns Of the patterns Of agrarian life. Most factory errors worked ten-hour days, six days a week; in steel industry. The decreasing need for skilled work in factories induced many employers to increase use of women and children. Women worked in all areas, even in some of the most arduous jobs. Most who worked were unskilled and semiskilled. Textile industry remained the largest industrial employer of women. Children worked at factories with a maximum workday of ten hours. Emerging Unionization Laborers attempted to fight back against such conditions by creating national unions. There had been craft unions in America, representing small groups of skilled workers. Individual unions could not hope to exert significant power in the economy.And during the turbulent recession years of the sass, unions faced the additional problem of widespread public hostility. The great railroad strike was Americas first major, national labor conflict. The Knights of Labor The first major effort to create a genuinely national labor organization was the founding in 1 869 of the Noble Order of the Knights of Labor, under the leadership of Uriah S. Stephens. The Knights hoped to replace the wage system with a new cooperative system, in which workers would control a large part of the economy. The Knights remained a secret fraternal organization. The Terrace V. Powdery leadership order moved into the open and entered a period of spectacular expansion. Local unions/assemblies associated with the Knights launched a series of railroad and other strikes in the sass in defiance of Powdery s wishes. The FALL Before the Knights began to decline, a rival association appeared. Samuel Compeers, a powerful leader of FALL, concentrated on labors immediate objectives: wages, hours, and working conditions. FALL demanded a national eight-hour workday and called for a general strike if the goal was not achieved by May 1, 1886.Chicago, a center a labor and radical strength, a strike was already in progress at the McCormick Harvester Company. To most middle-class Americans, the Homemaker bombing was an alarming symbol of social chaos and radicalism. The Homestead Strike The Amalgamated Association of Iron and Steel Workers was the most powerful trade union in the country. Its members were skilled workers, in great demand by employers, and thus had long been able to exercise significant power in the workplace. Demand for skilled workers was in decline as new production methods changed the stalemating progress.Carnegie and his first lieutenant, Henry Clay Erick, had decided that the Amalgamated had to go. Over the next two years, they repeatedly cut wages at Homestead. The Pullman Strike A dispute of greater magnitude, if less violence, was the Pullman strike in 1894. The Pullman Palace Car Company manufactured railroad sleeping and parlor cars, which it built and repaired at a plant near Chicago. Pullman was constructed a 600-acre town. Many people rented it and many industrial workers saw the town as a model. Workers went on strike and persuaded the militant American Railway Union, to support them by refusing to handlePullman cars and equipment. With federal troops protecting the hiring of new workers and with the union leaders in a federal jail, the strike quickly collapsed. Sources of Labor Weakness The last decades of the nineteenth century were years in which labor, despite militant organizing efforts, made few real gains. Industrial wags rose hardly at all. Labor leaders won a few legislative victories-abolition of the Contract Labor Law, the establishment of an eight-hour day for government employees, compensation for some workers injured on the job, and others.Many laws were not enforced. There were widespread strikes and protests ND many other workingwomans forms of resistance, large, small, but few real gains. Workers failed to make greater gains for many reasons. The principal labor organizations represented only a small percentage of the industrial work force; the FALL the most important, excluded unskilled workers, and along with them most women, blacks, and recent immigrants. Another source of labor weakness was the shifting nature of the work force. Many immigrant workers intend to earn some money and then return home. They had no long-range future in the country eroded their willingness to organize. Above al, perhaps, workers made few gains because they faced corporate organizations of vast wee lath and power, which were generally determined to crush any efforts by workers to challenge their prerogatives. Chapter 18: The Age of the City The Migrations Americans left the declining agricultural regions of the East at a dramatic rate in the late nineteenth century. Those left developed farmlands at the West. Most moved the cities of the east and the Midwest. Southern blacks left rural America for industrial cities in the sass.Some were escaping poverty, debt, violence, and oppression they faced in the rural south. The most important resource of urban population growth was the arrival of great numbers of new immigrants. The Ethnic City Most of the population of the major urban areas consisted of immigrants. In other countries experiencing heavy immigration in this period, most of the new arrivals were coming from one or two sources. But in the US, no single national group dominated. Most of the new immigrants were rural people and for many the adjustment to city life was painful.Ethnic neighborhoods offered newcomers much that was familiar. They could find newspapers and theaters in their languages, stores selling their native foods, and church and arterial organizations that provided links with their national posts. The cultural cohesiveness of the ethnic communities clearly eased the pain of separation from the immigrants native lands. Some ethnic groups advanced economically more rapidly than others. One is by huddling together in ethnic neighborhoods, immigrant groups tended to reinforce the cultural values of their previous societies.Immigrants who aroused strong racial prejudice among native-born whites found it difficult to advance whatever their talents. Assimilation and Exclusion Virtually all groups among the immigrant communities had certain things in moon. Most shared the experience of living in cities. Most were young; majority of newcomers were between 15 and 45 years. Most of foreign born had to compete against another powerful force: the desire for assimilation. Native-born Americans encouraged immigrants to assimilate in countless ways.Public schools taught children in English and employers often insisted workers speak English on the job. The government had concerned about immigration. The Creation of Public Space Among the most important innovations of the mid-nineteenth century were great city parks, which reflected the desire of growing number Of urban adders to provide an antidote to the congestion of the city landscape. Parks would allow city residents a healthy, restorative escape from the strains of urban life with the natural world. Frederick Law Limited and Calvert Faux designed New Works Central Park. They created a public space that would look as little like the city as possible. Central park was from the start one of the most popular and admired public spaces in the world. At the same time some cities created great parks, art museums, concert halls, and opera houses. Cities made effort to redesigning existing landscapes. The Search for Housing One of the greatest problems was providing housing for thousands of new residents who were pouring into cities each day. The availability of cheap labor reduced cost Of building and permitted anyone with even a moderate income to afford a house.Some of the richest urban residents lived in palatial mansions located in exclusive neighborhoods in the heart of each city. Most urban residents could not afford their own house in the city or move to suburbs. They stayed in city centers and rented. The first tenements had been hailed as great improvement in housing for the poor. Most in fact were ascribable places with no windows and no plumbing or heat. Urban Technologies: Transportation and Construction urban growth posed transportation challenges. People needed to move every day from one part of the city to another.Street cars on tracks by horses were introduced. Horse cars were not fast enough so many places developed new forms of mass transit. Such as in New York, it opened its first elevated railway, steam-powered trains. New York, Chicago and San Francisco experimented with cable cars. Boston opened the first American subway. One of the great technological marvels of the 1 sass was the Brooklyn Bridge in New York. Cities grew upward. The construction of the skyscraper was made and elevators were created. Fire and Disease Ares destroyed large downtown areas.Chicago and Boston suffered great fires in 1871. Others experienced similar disasters. These fires were terrible but were most important events in the development of the cities involved. Constructors encouraged fireproof buildings and the development of pro fire departments. They also forced cities to rebuild at a time when new technological and architectural innovations were available. A greater hazard than fire was disease in poor neighborhoods with inadequate sanitation acclivities. But an epidemic that began in a poor neighborhood could spread easily into other neighborhoods as well.Municipals recognized improper sewage disposal and water contamination to diseases such as typhoid fever and cholera; many cities lacked adequate systems for disposing Of human waste until well into the ;ninetieth century. Flush toilets and sewer systems began to appear in the sass but did not solve the problem as long as sewage continued to flow into open ditches or streams, polluting cities water supplies. Environmental Degradation Modern notions of environmental science were unknown to most Americans n the late nineteenth and early twentieth centuries.Environmental degradation of many American cities was a visible and disturbing fact of life in those years. The frequency of great fires, the dangers of disease and plague, the extraordinary crowding of working-class neighborhoods were all examples of environmental costs of industrialization and rapid arbitration. Improper disposal Of human and industrial waste was a common feature Of almost all large cities in these years. Air quality in many cities was poor as well. By 20th century reformers were crusading to improve environmental conditions.New sewage and drainage systems were created to protect drinking water from sewage disposal. The Fed created the Public Health Service to treat occupational diseases like tuberculosis and other trades. Urban Poverty, Crime, and Violence The expansion of the city spawned widespread and often desperate poverty. Public agencies and private organizations were poorly funded and in any case dominated by middle-class people who believed that too much assistance would breed dependency. Most tried to restrict aid to the deserving poor. Charitable organization conducted investigations to separate deserving room undeserving. Middle-class people grew alarmed over the rising of poor children in the cities, some were orphan or runaways. Poverty and crowding bred crime and violence. American murder rate rose rapidly in the late nineteenth century. Some middle class people feared urban insurrections and felt the need for more substantial forms of protection. Urban National Guard built imposing remarries and stored large supplies of weapons and ammunition in preparations for uprisings.The city Was a place of strong allure and great excitement. But it was also a place of degradation and exploitation. The Machine and the Boss For many residents of inner cities, the principal source of assistance was the political machine. It is a power vacuum that the chaotic growth of cities created. It was a product of optional voting power of large immigrant communities. Out of that combo emerged urban bosses. The function was simple: to win votes for his organization. Machines were also vehicles for making money. The most corrupt city boss was William M.Tweed, boss of New York Citys Tammany Hall, whose extravagant use of public funds on projects that paid kickbacks to the organization landed him in jail in 1872. Patterns of Income and Consumption Incomes were rising in highly uneven rates. Salaries of clerks, accountants, and other white-collar workers rose by an average of a third between 1 890 and 1910. Doctors, lawyers, and other pros experienced a dramatic increase in both prestige and profitability of their professions. Working-class incomes rose too. Rising incomes created new markets for consumer goods. Affordable products and new merchandising techniques soon made many consumer goods available to mass market for the first time. An example of good change was ready-made clothing. Buying and preparing food became a critical part of new consumerism. The development of cans created an industry devoted to selling canned food and condensed milk. Changes brought improved diets and better health. Chain Stores, Mail-order Houses and Department Stores Changes in marketing altered the way Americans bought goods. Chain stores could offer a wider array of goods at lower prices than the small local stores which competed. Large cities emerged great department stores. It helped transform buying habits and turned shopping into a more alluring and glamorous activity. Chicago created the first American department stores-a place to produce a sense of wonder and excitement. Such stores where emerged in New York, Boston, and other cities. Women as Consumers Womens clothing styles changed more rapidly than mens, which encouraged more frequent purchases. The bought and prepared food for their families, so new food products did not only change but also the way everyone ate and the way women shopped and cooked.The consumer economy produced new employment opportunities for women as salesclerks and waitresses. The National Consumers League attempted to mobile power of women as consumers to force retailers and manufacturers to improve wages and working conditions. Refining Leisure In early eras, few Americans had considered leisure a valuable thing. In the nineteenth century, the beginnings of a redefinition of leisure appeared. In early times, Simon Patten feared of scarcity had caused people to place a high value on thrift, self-denial, and restraint.But in modern industrial societies, new economies could create enough wealth to satisfy not just the needs, but desires, of all. As leisure became part of American life, it began new experiences with which to entertain them. Mass entertainment bridged differences of class, race, or gender. There was shopping, saloons, sporting events, theaters, pubs, and clubs. Spectator Sports Among The most important responses to the search for entertainment was the rise of organized spectator sports, and especially baseball. Baseball had great appeal to working-class males.The second most popular game, football, appealed at first to a more elite segment of male population, in part because it originated in colleges and universities. Basketball and boxing became popular as well. Participation in major sports was almost exclusively the province of men, but several sports emerged in which women became important participants. Golf and tennis both experienced a rapid increase mongo relatively wealthy men and women. Bicycling and croquet also enjoyed widespread popularity in the sass. Womens colleges introduced their students to more strenuous sports like track, crew, swimming, and basketball.Music, Theater, and Movies Many ethnic communities maintained their own theaters. Urban theaters also introduced new distinctively American entertainment forms: the musical comedy, which evolved gradually from the comic operettas of Europe; and vaudeville, a form a theater adapted from French models, which remained most popular urban entertainment into the first decades of the twentieth century. Vaudeville was also one of the few entertainment media open to black performers. They brought elements of minstrel shows they earlier developed for black audiences in the late nineteenth century.The most entertainment was the movies. Thomas Edison and others created the technology of motion picture rest. Soon after that, short films became available to individual viewers watching peepshows in pool halls, penny arcades, and amusement parks. By 1900, Americans were becoming attracted in large numbers to early movies. Motion pictures were the first truly mass entertainment medium. Patterns of Public and Private Leisure Many Americans spent their leisure time in places where they would not find not only entertainment but also other people.Thousands of working-class New Yorkers spent evening in dance halls, vaudeville houses, and concert halls. Moviegoers were attracted not just by movies themselves but by the energy of the audiences at lavish new movie palaces, just as sports fans were drawn by the crowds as well by the games. Many Americans amused themselves privately by reading novels and poetry as well. The Technologies of Mass Communication The transformation of publishing and journalism was to a large degree a exult of new technologies of communication.

The Benefits of a Post-Graduate Year

The Benefits of a Post-Graduate Year Did you know that each year, a number of high school graduates opt to spend another year at high school? A private high school to be exact, and the enroll in a program known as the post-graduate year, or PG year. Over 150 schools worldwide offer postgraduate programs. Admissions standards vary as do the objectives of the postgraduate programs themselves. It probably makes a certain amount of sense to have a student stay on at his old school for the postgraduate year. If he wants to attend another school, he may find the  admissions process  almost as intimidating as applying to be a first-year student. On the other hand, admissions to a post-grad year at his old school will be a mere formality. Postgraduate years are particularly useful for boys who want an extra year to mature before moving on. The postgraduate year gives young men that little extra confidence which they might lack at the end of 12th grade. A  PG or postgraduate year  is a popular option for many students. Personal Growth/Maturity A post graduate year gives students some extra time to strengthen academic skills, to participate in sports and to prepare for college admissions testing. For many students, it also gives them a little extra time to mature. Not every student is ready for the independent lifestyle at college, nor are they always prepare to live on their own for the first time. A post-graduate year at a boarding school gives students a chance to get used to an independent lifestyle in a supportive and nurturing environment. It can be a great stepping stone to prepare a student for college. Improve College Admissions Chances Many students choose to do a post-graduate year to improve their chances for admission to a particular college. College admissions can be fiercely competitive. If a student has his heart set on getting into a certain college, he may, in fact, be better off waiting out a year in the hopes that his application might be more favorably received. Most private schools offer experienced college counselors to help with the admission process and guide students to craft a personal path to excellence.   Perfect Athletic Skills Other students want to take a year before heading off to college to perfect their athletic skills. From a chance to play on a top team and get noticed by college sports recruiters to strength training and agility preparation, a post graduate year can really give students a leg up on their competition, and get a student noticed by scouts who can get them into top schools. And, many elite athletes earn college scholarships, and a post graduate year can make a student a more desirable candidate.   Schools That Offer a PG Year There is only one school which offers a PG program exclusively. Thats Bridgton Academy in North Bridgton, Maine. All the other schools on the list below offer their PG year as a kind of 13th grade if you will. Here are some schools which offer PG programs: Avon Old Farms School, Avon, CTBlair Academy, Blairstown, NJBrenau Academy, Gainesville, GABrewster Academy, Wolfeboro, NHBridgton Academy, North Bridgton, MECamden Military Academy, Camden, SCCanterbury School, New Milford, CTChapel Hill-Chauncy Hall, Waltham, MACheshire Academy, Cheshire, CTChoate Rosemary Hall, Wallingford, CTChristchurch School, Christchurch, VACulver Academies, Culver, INCushing Academy, Ashburnham, MADarlington School, Rome, GADarrow School, New Lebanon, NYDeerfield Academy, Deerfield, MAEmma Willard School, Troy, NYEthel Walker School, Simsbury, CTFlorida Air Academy, Melbourne, FLFork Union Military Academy, Fork Union, VAThe Forman School, Litchfield, CTFryeburg Academy, Fryeburg, MEGould Academy, Bethel, METhe Gow School, South Wales, NYGrand River Academy, Austinburg, OHGrier School, Tyrone, PAThe Gunnery, Washington, CTHargrave Military Academy, Chatham, VAHebron Academy, Hebron, MEHill School, Pottstown, PAHoosac School, Hoosick, NYHotchkiss School, Lake ville, CT The Hun School of Princeton, Princeton, NJIdyllwild Arts Academy, Idyllwild, CAIndian Springs School, Indian Springs, ALKents Hill School, Kents Hill, MEKimball Union Academy, Meriden, NHThe Kiski School, Saltsburg, PALake Forest Academy, Lake Forest, ILThe Leelanau School, Glen Arbor, MILeysin American School, Leysin, SwitzerlandLinden Hall School, Lititz, PALoomis Chaffee School, Windsor, CTMarine Military Academy, Harlingen, TXMercersburg Academy, Mercersburg, PAMiller School, Charlottesville, VAMissouri Military Academy, Mexico, MOMontverde Academy, Monteverde, FLNew Hampton School, New Hampton, NHNorthfield Mount Hermon School, Northfield, MAOldfields School, Glencoe, MDOrme School, Mayer, AZThe Peddie School, Hightstown, NJPerkiomen School, Pennsburg, PAThe Phelps School, Malvern, PAPhillips Exeter Academy, Exeter, NHPomfret School, Pomfret, CTRandolph-Macon Academy, Front Royal, VASaint Johns Preparatory School, Collegeville, MNSt. Timothys School, Stevenson, MDSouth Kent Scho ol, South Kent, CT Stoneleigh-Burnham School, Greenfield, MASuffield Academy, Suffield, CTThomas Jefferson School, Saint Louis, MOTilton School, Tilton, NHVerde Valley School, Sedona, AZWasatch Academy, Mt. Pleasant, UTWayland Academy, Beaver Dam, WIThe Webb School, Bell Buckle, TNWentworth Military Academy, Lexington, MOWest Nottingham Academy, Colora, MDWestern Reserve Academy, Hudson, OHWestminster School, Simsbury, CTThe White Mountain School, Bethlehem, NHWilbraham and Monson Academy, Wilbraham, MAWilliston Northampton School, Easthampton, MAThe Winchendon School, Winchendon, MAWyoming Seminary Upper School, Kingston, PA Article edited by Stacy Jagodowski

Marketing strategies Essay Example | Topics and Well Written Essays - 1500 words

Marketing strategies - Essay Example Australia’s strong employment growth and rising wealth coupled together with car manufacturers’ strong discounting and cheap finance schemes have cultivated growth in new car sales. With a strong economy, low interest rates on car financing and tariff reduction on vehicle imports will increase consumer confidence and encourage consumers to spend. Therefore, projected growth remains strong and stable over the next five-year period. In this paper, the author focuses on the product launch of new product line for Mercin Daviro. Mercin Daviro is a New Australian car manufacturer that specializes in the small, compact and economic range. The company is derived from Europe where it matches the features of the small European cars. Trends in the demographic environment, economic environment, natural environment, technological environment, political environment and cultural environment have been analyzed and Mercin Daviro had used this information to structure their car. The automotive market can be segmented by product type such as four-wheel drives, people-movers, Sports utility vehicles, and light commercial vehicles. Strong sales growth has continued in most segments in 2004, particularly for four-wheel drives, people-movers and light commercial vehicles, pointing to another record year for total vehicle sales, even though new passenger car registrations are likely to have fallen slightly. Local demand have been rising strongly between 1999 and 2001, the value of total automotive exports fell by 2.2% in both 2002 and 2003. Total earnings from automotive exports were A$4.72bn (US$3.1bn) in 2003, of which A$2.99bn came from vehicle exports and A$1.74bn from component exports. The Middle East is by far the largest market for Australian vehicle exports, accounting for 40.1% of export earnings in 2003, followed by New Zealand (17.5%) and North America (16.6%). The current key players in the Australian automotive market are Toyota, General Motors, Ford, Mitsubishi,

Operation management Essay Example | Topics and Well Written Essays - 2750 words - 2

Operation management - Essay Example However, this need not be the case if there business owners are committed to operation management. In this paper, the purpose is to give a report on the findings that were collected after visiting one of the best restaurants in the city. The second part of this paper will explain the types of process technology that were observed in the operations. Thirdly, capacity constraints that existed in the operation will be discussed. Finally, there will be recommendations offered on the best way to improve the operations at this specific restaurant. As noted above, every business would want to make profit and ensure that clients are satisfied since this is the only way to ensure long-term benefits. However, every business’ success is majorly dependent on the quality of management (Schmidle, 2011; Evans, 2004). In short, a business that overlooks the five performance objectives will seldom witness profits and its existence and seemingly, profitability will be short-lived. Having participated in the visit to the mentioned activity, this section will explain how the five performance objectives were utilised in the restaurant. Prices often act as one of the reasons customers flock or forsake a particular business, thus the right pricing ought to be practiced with careful consideration. These assertions are informed by the fact low price does not always translate into profitability. Similarly, high prices are not a clear reflection of high quality products (Heidhues and Kőszegi, 2014; Wacker, 2004). In this particular restaurant, the food prices were set as per size and quality with some costing as much as $100 while others as low as $5. Having observed the place for the at least two days, it became apparent the patrons loved the place because of this seemingly balanced pricing. While clients expect the prices to be low yet the commodities to be of high quality, this is not always tenable because of the requirements. Some of the

The strategic planning of Marks and Spencer

The strategic planning of Marks and Spencer Marks and spencer started from small stalls becomes one of the uks leading retailers with over 15 million people visiting every year. It is giving to its customers great value clothing, high quality, stylish products as well as outstanding quality of food from different authenticated suppliers. The whole of the report revolves around the strategic planning of well renowned company marks and spencer, it will explore the external environment, its existing business plan, major factors affecting it and the strategic option is also given in this report through which it can overcome the predicted barriers. Companies overview Marks and spencer is come to existence in 1894 by the partnership of Michael with Tom Spencer. They employ over 65000 people, running 450 stores and also flourishing international business. In 2007 Marks Spencer (MS) was the UKs largest clothing retailer with a market share of 11.1%. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. The groups international business accounted for 7.1% of turnover and had grown to 219 franchise stores in 34 territories worldwide as well as 8 wholly-owned stores in Hong Kong and 13 in the Republic of Ireland. During 2007, it opened 36 new stores including the groups largest ever franchise store in Dubai at 52,000 sq ft. and also opened its first store in Taiwan under a joint venture with President Chain Store Corporation. Strategic management provides overall direction to the enterprise so Johnson and Scholes define strategy as follows: Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations.   PEST Analysis Pest analysis is concerned with the environmental influences on a business. The acronym stands for the political, economic, social and technological issues that could affect the strategic development of a business. Political European Committee decision to permit free flow of trade among themselves and other countries under foreign trade regulations makes companies to import their products over time easier than before. MS competitors took advantage of its higher cost structure and bit off some its market share. Economic MS competitors are specialised in niche markets and consumers focus which make them to provide a much better consumers satisfaction. They prefer to import their products from abroad for cost savings, this fact puts MS in a cost disadvantage for a perceived higher quality. Social Consumers concept in the marketplace has changed; they do not sense British products as of high quality. There is a shift in demand for more fashionable clothing. Moreover the price sensitivity of the majority of the consumers has increased leaving MS in a less competitive position. Technological Media played major role of communicating new fashions to the customers. This knowledge can be communicated to the designers and producers, so a manufacturer in Thailand or China can be aware of the current fashion trends in UK. Technology theses days are even more quickly copied than before. Moreover due to the transportation speed a shipment of stock from a country in far Asia will only take a few days instead of a preview time period of over a month. Environmental (Ecological) Selling products produced by suppliers has a much greater affect on the environment on how these products are used and disposed by consumers. Retailers use a huge range of raw materials to produce their goods. Because of this, it is critical to manage the use of these materials sensitively and pay proper regard to how they affect natural habitats and bio-diversity. Legal Offering customers high standards of quality product are essential to meet their requirements. MS are known for delivering world class quality products. Porter 5 Forces Analysis The five force models is basically industry specific within which the firm exists and operates. The rationale behind this model is that industry profitability is not determined by the product quality, nor it embodies high or low technology. It is determined by the structure of the industry. M. Porter, Competitive Advantage of Nations, Macmillan, 1990 Porter explains that there are five forces that determine industry attractiveness and long-run industry profitability. Threat of new entrants New entrants to an industry can raise the level of competition, thereby reducing its attractiveness. The threat of new entrants largely depends on the barriers to entry. High entry barriers exist in some industries whereas other industries are very easy to enter. The most common form of entry barriers are usually the scale and the investment required to enter an industry as an efficient competitor. In consumer product industry this dimension of competition is well prominent. All the existing domestic companies are well set up, reputed, organized and stable manufacturers in the industry and have their own distinct places in the market. A potential entrant may find it uneconomical to take on existing occupants and if it does the gain of market share at the cost of large capital investment besides powerful retaliation of existing manufactures. It may take years (at-least 5 6 years) for an entrant to build reputation for product quality no matter how large its initial advertising campai gn is. Threat of substitutes The presence of substitute products can lower industry attractiveness and profitability because they limit price levels. The threat of substitute products depends on: Buyers willingness to substitute the relative price and performance of substitutes the costs of switching to substitutes The product category Marks and Spencer has is subjected to great threat as different other companies of UK like Primark deals with the same kind of products. Bargaining power of suppliers Suppliers are the businesses that supply materials other products into the industry. The cost of items bought from suppliers (e.g. Raw materials, components) can have a significant impact on a companys profitability. If suppliers have high bargaining power over a company, then in theory the companys industry is less attractive. The bargaining power of suppliers will be high when: There are many buyers and few dominant suppliers there are undifferentiated, highly valued products suppliers threaten to integrate forward into the industry. Bargaining power of buyers Buyers are the people who create demand in an industry. The bargaining power of buyers is greater when there are few dominant buyers and many sellers in the industry products are standardized buyers threaten to integrate backward into the industry suppliers do not threaten to integrate forward into the buyers industry. At the same time Pull strategy is followed as bottom up approach where end users pull the preferred product. Intensity of rivalry The intensity of rivalry between competitors in an industry will depend on: The structure of competition for example, rivalry is more intense where there are many small or equally sized competitors; rivalry is less when an industry has a clear market leader The structure of industry costs for example, industries with high fixed costs encourage competitors to fill unused capacity by price cutting. Degree of differentiation industries where products are commodities have greater rivalry; industries where competitors can differentiate their products have less rivalry. Switching costs rivalry is reduced where buyers have high switching costs i.e. there is a significant cost associated with the decision to buy a product from an alternative supplier Strategic objectives. Swot Analysis SWOT analysis is an important tool for auditing the overall strategic position of a business and its environment. Once key strategic issues have been identified, they feed into business objectives, particularly marketing objectives. SWOT analysis can be used in conjunction with other tools for audit and analysis, such as PEST analysis and Porters Five-Forces analysis. SWOT ANALYSIS OF MARKS AND SPENCERS Strengths Marks and Spencer is a powerful brand. It has a reputation for value for money, convenience and a wide range of products all in one store. M S has grown substantially over recent years, and has experienced global expansion. The company has a core competence involving its use of information technology to support its international logistics system. For example, it can see how individual products are performing country-wide, store-by-store at a glance. IT also supports M S efficient procurement. A focused strategy is in place for human resource management and development. People are key to M S business and it invests time and money in training people, and retaining a developing them. Weaknesses M S is the Worlds largest retailer and control of its empire, despite its IT advantages, could leave it weak in some areas due to the huge span of control. Since M S sell products across many sectors (such as clothing, food, or stationary), it may not have the flexibility of some of its more focused competitors. The company is global, but has a presence in relatively few countries Worldwide. Opportunities To take over, merge with, or form strategic alliances with other global retailers, focusing on specific markets such as Europe or the Greater China Region. The stores are currently only trade in a relatively small number of countries. Therefore there are tremendous opportunities for future business in expanding consumer markets, such as China and India. New locations and store types offer M S opportunities to exploit market development. They diversified from large super centers, to local and mall-based sites. Opportunities exist for M S to continue with its current strategy of large, super centers. Threats Being number one means that you are the target of competition, locally and globally. à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ ¢ Being a global retailer means that you are exposed to political problems in the countries that you operate in. à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ ¢ The cost of producing many consumer products tends to have fallen because of lower manufacturing costs. Manufacturing cost has fallen due to outsourcing to low-cost regions of the World. This has lead to price competition, resulting in price deflation in some ranges. Intense price competition is a threat. Stakeholders Expectation Stakeholders Expectation are those without which our strategic analysis will remain incomplete is about the expectation of stake holders. Stakeholders are those individuals or groups who depend on the organisation to fulfil their own goals and on whom the organisation depends. Share holders expectation includes, Corporate governance chain, Formal requirements and boundaries within which strategy is developed, Organisational stakeholders, Other groups (internal and external) which have expectations and potential influence The expectation of the stake holders of M S conflicts between, Short-term profitability versus growth, Family control versus professional managers, Financial independence versus share/loan funding, Public share ownership demands openness and accountability, Cost efficiency may mean job losses, Mass markets may compromise quality, Mass public service provision versus specialist services Generic models for strategic plan According to Porter, Marks and Spencer is followed by a strategic generic model and the main categories are: Cost leadership Diffferenciation Focus Marks and Spencer is a fascinating case of a company that has lost its strategic focus. Its story illustrates how even the strongest of businesses cannot afford to take their eyes off the competition.   MS lost its way as the UKs leading retailer in the late nineties. Its profits, which had peaked at over 1bn [pounds sterling]. fell by hall as consumers rejected its clothing. In response to competitive pressure from new and existing players, MS made major changes to its strategy in 1998-2000. These included decisions to more away from its St. Michael brand  and to accept credit cards.   By 2004 the company was lacing a huge number of issues, including problems with service standards, dated store formats and the alienation of its traditional customer base. MSs stock was falling sharply. The share price, which had been as high as 650p in 1997, had declined to 270p.   By this time, Rose had unveiled his recovery strategy: selling MS Money: buying the Per Una brand: refunding around 2.5bn [pounds sterling] to shareholders: closing the new Lifestores concept and some Simply Food stores: improving products and services: and broadening MSs appeal and customer base.   Green stated that his offer was final, which meant he would not increase it again for six months unless another bidder appeared. The shareholders decided to back Rose. Green withdrew his offer and the share price fell back to 340p, which was 60p (or a total of 1.3bn [pounds sterling]) less than Greens final offer.  He faced following challenges while doing this right. Increase sales and market share without losing margins. (Rose has been  coy  about this, putting the emphasis on cost savings.)   Cut costs without undermining quality or service. In 2004 MS planned around 300m [pounds sterling] of cost savings, but clearly a proportion of these in 2005-06 would be needed to cut prices to competitive levels.   The recent history of MS highlights the need to manage shareholder value and deliver quickly, especially during turnarounds. In this situation, Rose might find the strategic option grid helpful.   This grid has been used by number of major companies, including Tesco and Diageo, to develop strategies. The options for MS include:   Incremental  strategy This would not really improve MSs long-term competitive advantage and it would be a high-risk approach, because the business would become even more exposed.   Float off food This would make shareholders better off, since the business is probably  undervalued. It would not be inherently hard to do this.   Close more stores This would focus the company on its key outlets, but it might damage the brand and decrease customer loyalty in the process.   Rationalise  the product For example stop selling mens shoes. This would declutter the business and provide an opportunity for growth.   Increase franchise space This would allow in other products, which would create more interest.   Strategy of Marks and Spencer to Improve Performance Marks Spencer plans to spend  £200 million over the next five years on going green strategy as the battle to become the most environmentally friendly retailer steps up. The high street giant, which launches its strategy with an advertising campaign in March, has set some challenging targets, including a pledge to stop sending all waste to landfill and to reduce CO2 emissions by 80 per cent. However, the aspirations will be closely scrutinised by non-governmental organisations, which will want to see if MS will be able to maintain its commitment to them in future years as the deadline to meet its targets near. Stuart Rose, the chief executive, said that he hoped that the cost of the programme would be offset by increased sales. Last year the retailer launched a Behind the Label campaign, which highlighted Marks Spencers environmental and ethical business practices and was one of the retailers most successful advertising schemes. Mr Rose said: We think this is the right thing to do because our customers, employees and, increasingly, shareholders are asking us to. We believe those people will embrace a responsible business. MS has worked on the project for six months, taking advice from Jonathon Porritt, the former director of Friends of the Earth, who said: This plan raises the bar for everyone else not just retailers but businesses in every sector. MSs detailed 100-point plan covers climate change, waste, raw materials, fair trade and healthy living. Elements also include reducing the amount of food imported and labelling those goods flown in, opening a model green factory and four stores and using 50 per cent bio-diesel in its lorry fleet. The retailer also wants to reduce packaging by 25 per cent and to use recycled plastic bottles to make polyester for use in clothing and home furnishings. Rosemary Byrde, global Fairtrade policy adviser at Oxfam, said: Marks Spencer is to be applauded for leading the way. We look forward to seeing the difference this will make and to other major retailers following suit in the near future. Robert Napier, chief executive of WWF-UK, the conservation organisation, said: Such bold aspirations as outlined by Marks Spencer can only help to drive other supermarkets and the retail sector towards supplying products in a way that protects our planet and sustains the natural resources we depend upon. The first change that MS shoppers will notice is a range of fair trade cotton T-shirts. About 20 million garments will be produced over the next 12 months, accounting for about a third of the worlds supply of fair trade cotton. Retailers fought to seize the green agenda throughout last year as environmental and fair trade issues had become increasingly important to shoppers and regulators. Marks and Spencers Mission, Vision, Values and Objectives Marks and Spencers corporate objectives are incorporated in its mission statement. This outlines what the business is and what it should be. Mission statements set out in writing what the firm wants to achieve and often include information on the values of the business. MS outlines its core business as clothing and Food. Its financial objectives is to deliver shareholder value in terms of increase returns, but also in terms of increase sales and market share in retailing. It beliefs and values are outlined as Our customers continue to see Marks Spencer as the place to shop for special food, produced to exacting standards. MS also sees its workforce as an important part of its plan and also considers modernising its stores as a key corporate objective. Vision: The standard against which all others are measured Mission: Making aspirational quality accessible to all Values: Quality, value, service, innovation and trust MS also outlines its corporate social responsibility in its mission statement and considers the needs of other stakeholders too. We have a strong tradition of corporate social responsibility (CSR) but we want to make sure CSR is integrated into our operations at every level Finally, MS also outlines its strategic intent (vision) in its corporate objectives. MS wants to continue its differentiation strategy by delivering freshness, quality and innovation. Strategic Implementation This process involves distribution of resources (financial, personnel, time, and technology support). The next step involves assigning tasks or responsibilities to specific individuals or groups to make the environment clean and it needs to disseminated into the company effectively and efficiently, monitoring the progress and results. Careful assessment of the process, controlling for variances and making the required adjustments form vital components of this process. Strategy Evaluation As the term suggests, this process includes evaluation of the efficacy of the organizational strategy implemented. Therefore, successful strategic management must include clearly defined objectives, careful assessment of both the internal and external situation to formulate the strategy, implementing the strategy and making the required adjustments as and when required. The company must possess a clear vision of its long term plans or a clear business vision. This also includes assessing the financial and strategic objectives. Financial objectives involve measures such as sales targets and earnings growth. Strategic objectives are related to the firms business position, and may include measures such as market share and reputation. (quickmba, 2007). The Environmental scan includes the following elements: Internal analysis of the firm, Analysis of the firms industry (task environment) and External macro environment (PEST  analysis). After deriving and inferring the information from the environmental scan the company should be able to carefully identify and address its weaknesses and external threats and evaluate its strengths. A competitive edge in the market in the market can be based on cost or differentiation.   The stage of implementation essentially involves distribution and organization of the companys resources and staff motivation to achieve the set objectives or goals. Evaluation and control includes monitoring the strategy and fine-tuning it as required. CONCLUSION After mid 1990s MS began to experience internal problems such as information flow breakdown and together with the fact that top management was concerned with international expansion MS was drifted away from its core values such as consumer care and customer satisfaction. MS failed to recognise that consumers were becoming wiser and its competitions much stronger. Most of consumers consider MS to be old fashioned company, this image has to be changed to be in line with the market demand and regain its lost customers to other competitors. Based on the analyses, the author feels that MS requires to be focus on its strategic plan therefore, in formulate a strategy envirmental analysis is required, which will be analysed through pestle, the current situation of Marks and Spencer is also captured then a strategic plan is constructed to overcome the barriers, then it is implemented and evaluated to ensure long-term success. Business must try and use as many tools as possible in order to come out with the best strategy for the organisation. However, firms must try and evade the limitations of these tools so as to formulate the best strategy.

History and Advantages of High Fructose Corn Syrup Essay -- Artificial

The History and Advantages of High Fructose Corn Syrup HFCS is a popular sweetener used in processed foods. It is composed of approximately 50% fructose and 50% glucose. It is made from corn starch with the use of enzymes to convert glucose to fructose. It has many advantages over cheap sugar, including, but not limited to, lower price, longer shelf life, low freezing point, and enhanced taste and texture. Corn refinement was first discovered circa 1860, and was soon followed by the development of corn syrup. Important advantages took place in the 1920’s with the use of enzymes, but it was not until the mid-1900’s when the crucial glucose isomerase enzyme was discovered. Industrial production of HFCS began in the 1970’s and today the industry is huge. High Fructose Corn Syrup (HFCS) is a sweetener used in many consumer products. Because it is as sweet as sugar, yet cheaper, HFCS is used in many processed food products. Like sugar, it has four calories per gram and has no added artificial or synthetic materials. HFCS is made from corn refinement. First, starch must be separated from the rest of the corn. The starch is then treated with the enzyme glucose isomerase, which converts glucose into fructose. Fructose is an isomer of glucose; both have the empirical formula C6H12O6, but in different bonding. Glucose and fructose bonded together make sucrose, commonly known as table sugar. However, they are found separately in HFCS. Supporters of HFCS claim that it causes no more harm to the body than sugar does because both HFCS and sugar have fructose and glucose in approximately one to one ratios. There are three main types of HFCS: HFCS-42, HFCS-55, HFCS-90. HFCS-42 is 42% fructose and 50% glucose. It is the least sweet of the ... ... Shaft." Freedom Daily Apr. 1998. The Future of Freedom Foundation. 25 July 2006 . Path: James Bovard; FFF articles; The Great Sugar Shaft "Corn Subsidies in United States." Environmental Working Group's Farm Subsidy Database. Nov. 2005. Environmental Working Group. 25 July 2006 . Path: Top Programs; Corn Subsidies. HFCS Facts. 25 July 2006 . "High Fructose Corn Syrup." Learn about Kosher. OU Kosher. 25 July 2006 . "Vignette 4 Bioprocess Engineering for High-Volume Products: The Case of Corn and the Wet-Milling Industry." Putting Biotechnology to Work: Bioprocess Engineering. 1992. 27-29. The National Academic Press. 25 July 2006 .