Precision Worldwide, Inc

Introduction When a competitor develops and introduces a superior product that is less costly to manufacture and even many times usable and durable, the key to people at Precision Worldwide must decide whether to match the competitor's product, when to do so, how to price or what sustainable competitive advantage it needs to adopt during the next strategic period, given that it holds a large inventory of its now inferior product. This issue concerns the steel and plastic rings which the company, Precision Worldwide, Inc. PWI) is opting to produce as a matter of competing intensively with a French company, Henri Poulenc, which was at the same time posing a big threat to the viability of the steel rings PWI is producing. . PWI is confronted not only with a substitute product which is both cheap and durable. Compared to PWI’s steel rings, the plastic rings being produced by Henri Poulenc is both cheaper and lasts longer. PWI is also facing the risk of earning the ire of its custo mers if it manufactures but selectively introduces the cheaper plastic rings in areas where it is faced with the ‘plastic’ competition. As a result, PWI is now confronted with a dilemma of differences in strategic measures to undertake given the differing opinions of its key people. Questions Posted for this Note: 1. You have to analyze the existing data, the conflicting views of the sales manager and the Development engineer. And make a decision as to whether PWI should begin the manufacture of a plastic ring. Answer: From the standpoint of the qualitative aspect of competition, PWI is encouraged to start manufacturing of the plastic ring if it is to avert a more serious consequence of being eased out of the market due to a cheaper, more durable plastic ring. Regardless of the fact that PWI still has an inventory of the special steel material and the completed steel rings, yet PWI should approach the problem with a resolve in terms of the qualitative factor of competition. The cost of the existing inventory will have to be matched with the opportunity cost of being eased out of the competition – that is, pitting the income from the substitute with the potential loss of the opportunity income due to a prompt entry into the plastics market. For PWI, the signs of change are showing: the presence of a cheaper and better substitute which should not be ignored totally. Hence, this needs to be seriously considered as a threat. The presence of alternatives as exemplified by Henri Poulenc should encourage PWI to explore this option. 2. In addition, a plan needs to be designed as to the pricing policy to follow for both the steel and the plastic rings. Answer: A plan for the pricing policy is similarly considered urgent to explore the opportunities of lower cost or such cost being at par with the competition, both for the steel and plastic rings. Any form of pricing policy will have to be dependent on the cost of production and operations of PWI. Opportunities for cost reductions through outsourcing, reengineering and redundancy layoffs should be seriously considered. Among the avenues that can be explored include outsourcing of the manufacturing of the steel and plastic rings, either with Henri Poulenc or with other equally cost-effective firms. A number of plastic or steel rings manufacturer may offer a cheaper cost structure for PWI. An additional strategy to a pricing policy for the steel and plastic ring is to reengineer the manufacturing operations for the rings to explore ways of reducing production cost to lower the selling price for the part. Part of this operations restructuring measure include: evaluation of the sources of raw materials as means of looking for cheaper suppliers. (Kaplan & Norton, 2004) Comparatively, indeed, the costs of raw materials for both plastic and steel rings are too big to be ignored. PWI has to take the initiative to explore the use of alternatives like plastic which has been found feasible by Henri Poulenc. On the other hand, the labor and overhead cost may be studied in detail to explore automated production to manage the cost-price relationship. Cost variance analysis is needed to determine areas for improvements and opportunities. Pricing policies will then come after target costing measures are explored. (Garrison & Noreen, 2003) 3. Finally, some considerations should be given to the effect of the decision upon the firm’s image in the marketplace. Answer: There are a number of considerations that may likely impact the image-building processes of PWI are to be seriously considered when making decisions. Thus the effect of decisions involving the following issues is considered: (1) the issues involving the cost structure which continue to hamper the pricing policies and market potentials of PWI’s products. It appears that PWI has not really looked into the possibility of actively pursuing efforts to compete in the market through cost-effective production processes, lower prices to recognize the availability of better-equality substitutes such as the plastic rings; (2) the possible discovery of distributing the planned cheaper plastic rings in areas where competition is tight. This issue might prove to be an indefensible issue if customers discover such unfair selective distribution scheme; (3) the disposal of the remaining inventory of special steel and the finished steel rings might not be acceptable to the market unless prices are made more attractive and useful to the buyer. However, disposal made at a cheaper price and the prompt introduction of the plastic rings at a competitive price might mitigate the possible losses of the steel materials and steel rings. This can bring a positive impact in favor of the PWI for its initiative at providing its customers with marked down prices of steel rings. And, (4) the production of plastic rings at a cheaper cost will enable the company to bring a message of dynamism to the market despite the prospect of competition. (Hill, 2008) 4. How long is it prudent to sell a short-lived highly profitable replacement part without jeopardizing the company’s image and market share? Answer: The introduction of the plastic rings into the market should be followed by a market survey to determine the acceptability of the market to the innovation. An analysis of the consumer behavior is important in planning the appropriate action to be taken on the period required to sell the plastic rings. The survey should be able to tell the effects of the innovation for PWI to assess how long the product can be introduced into the market without affecting the image and market share of the company. 5. What price relationship is likely to prevail between the steel rings and the plastic rings once the latter become widespread? Answer: The price relationship expected to prevail between the steel rings and the plastic rings might at a ratio of 5:1 which means that five plastic rings is equivalent to one steel ring. This relationship however, can significantly change as the cost structure is reevaluated and inputs analyzed to arrive at a more competitive cost structure enough to sustain the production of both the steel and the plastic rings. . How should the 15,100 finished steel rings that will still be on hand in September be treated for analytical purposes? Answer: The inventory of finished steel rings will be used up in due time by September based on estimates of periodic and regular consumption. The remaining inventory can be classified at scrap and marked down accordingly to encourage sales and turnover. 7. Will the price rings hold at $1,350 once plastic rings are introduced? Answer: The price will no longer hold at $1,350 for the steel rings. The price of the traditional steel rings will drop accordingly due to the presence of substitutes and the demand to become more competitive. 8. Will the price of steel rings fall to one-fourth of the plastic rings’ price? Answer: It is probable that the price of the steel rings will fall to one-fourth or even beyond as components of the cost become stable, but there are still variables to consider that may affect the pricing: that is, the issue of reengineering the production which may lead to lower costs. 9. What effects will the decision in respect to plastic rings and steel rings have on the sale of other PWI products?particularly of the industrial machines? Answer: Since the pricing policy of PWI will affect the options to be made by the company, the effect of decisions on the plastic and steel rings may rationalize the prices of the machines as the cost burden is shifted from the steel to the plastic area. (Garrison & Noreen 2003) 10. Can the plastic rings be sold in France without affecting PWI’s other markets? Answer: At the short run, there will be no effect. However, in the long run, when customers are able to gain access to the French market through the globalization phenomenon, customers will start to shift sourcing of rings from the traditional sources to France where are able to make good use of their financial resources. 11. What action should Hans Thorborg take? Why? Answer: Thorborg should explore existing and future capabilities to arrive at the various options. Here, the bottom line is the capability to produce the plastic rings at a competitive price while disposing the inventory of steel materials and the steel rings. Thorborg needs to start retooling the production lines for the plastic rings. The threat from Henri Poulenc is real and may soon take some market share from PWI. The cost structure is a very fluid support for decisions as these can significantly change with a decision to outsource, reengineer or rationalize the labor and overhead component. Whatever options Thorborg choose to act on, needs the support of his key people in the company especially Henk and Eisenbach. (Anthony & Govindarajan, 2003)

Romanticism Report

The definition of romanticism is noted as a romantic spirit, outlook, tendency, etc. or the spirit, styles, and attitudes of, or adherence to the Romantic Movement or a similar movement contrasted with classicism and realism. Now, to complete this definition we must define the Romantic Movement. The Romantic Movement was the revolt in the late eighteenth to early nineteenth centuries against the artistic, political, and philosophical principles that had become associated with neoclassicism: characterized in literature, music, paintings, etc. freedom of form, emphasis on feeling, originality, and creative imagination. Also on the artists own personality and sympathetic interests in nature, medevilism, the common man and so forth. This basically explains the content of this essay. The essay will be a deeper explanation of these things related to four of the main themes in romanticism. Specific examples of revolution, individuality, nature, and love will be included. The leading item in romanticism was passion. Almost everything, whether it be art, music, or literature, was shown with extreme passion. This could very well be the reason for calling it the Romantic Period. Love has a somewhat difficult definition, due to the fact that it is a feeling. Love had an immense role in romanticism. Love in art was mainly shown in ballet. It gave great importance to women not only as artists but mythical figures as well. The ballet showed men and women in an equality of roles, but also gave men a chance to show that they too could accomplish extravagant dance steps. Ballet also stressed exoticism, fantasy, nature and most importantly love. An example of common love theme in ballet would be the unrealizable love for an fleeting lady or fatal love for a temptress. Paris was the center of romantic ballet. A poet by the name of Theophile Gautier wrote the story for twhat is considered the greatest ballet of all time called â€Å"Giselle†. This ballet is still popular with modern audiences. This particular ballet was based upon a German legend of a girl who loves to dance and falls in love with a shepherd boy. Her mother warns her of her fate by saying â€Å"Unhappy child! You will dance forever, you will kill yourself, and when you are dead, you will become a Wili (dancing spirit). Her prophecy eventually becomes truth when Giselle kills herself after finding that her beloved is a duke in disguise and is already engaged to a noble lady. The woman who danced the lead (Carlotta Grisi), as told by Gautier himself, danced the role â€Å"With perfection, lightness, boldness, and a chaste refinement and refined seductiveness, which placed her in first rank.. .she was nature and artlessness personified. † In literature Madame de Stael’s novel â€Å"Corinne† is about a poetic genius who suffers and eventually dies of unrequited love, a very passionate and common theme in the Romantic Era. Madame de Stael’s statement on poetic inspiration is chiefly known for its portrayal of women and for its romantic glorification of inspired genius. Here is a portion of that statement: â€Å"Sometimes my impassioned excitement carries me beyond myself; teaches me to find in nature and in my own heart such daring truths and forcible expressions as solitary mediation could never have engendered. † This is a excellent example of so many of the themes in romanticism. It tells of passion, nature, love, and also individualism. These are all necessary components of romanticism. The roles of women in the Romantic Period were quite contradictory. They were liberated and independent, predatory and dangerous, domestic and subservient, and even ethereal and mystical. These are all ways that women were portrayed at this time, mostly the oppinions of men. Women, as writers, often went under male pen names due to the controversy of women writing. Some archetypes of women writers in romanticism were: Mary Wollstonecraft Godwin Shelly (the woman who married the poet Shelly and wrote the story of â€Å"Frankenstien†). There were the Bronte sisters and Mary Ann Evans (under the name George Elliot) in England, Germaine Necker (Madame de Stael)and Aurore Dupin (George Sand) in France, and in the United States the extraordinary writers Margaret Fuller and Emily Dickenson. These are only a few of the many female writers in romanticism. These women were courageous and as passionate, if not more so than men, in their writing. They faced restrictions and struggled to be recognized as respectable writers in their time, they eventually did, but did not live to see this happen. The revolutions of both Europe and the United States greatly impacted romanticism. Romanticism is occasionally known as a revolutionary movement due to the extreme changes in politics, taste, feeling, behavior, thought and social and domestic relations. There are many examples of revolutionary and romantic ideas mixed. In Spaniard Francisco de Goya’s painting â€Å"The Third of May† (1808) there are obvious romantic qualities. The eloquent way that the figures are posed in motion and with the intensely contrasting and dramatic colors. All of these elements were typical in romanticism. This painting was also a political statement of the injustices and the slaughter of innocent citizens after an uprising against a French invasion. This painting was painted in 1814 after king Ferdinand was restored to the Spanish throne. In literature Schiller’s famous poem â€Å"Ode to Joy† written on the eve of the French Revolution showed his firm beliefs in human rights to dignity and freedom plus his hopes for universal brotherhood. He is placed in the transition between the Enlightenment and The Romantic Era. His poem is eternally recognized and was the inspiration for Beethoven’s Ninth Symphony written almost thirty years later. This poem and the symphony have become one of the great statements of romanticism. As for politics and society, Jean Jacques Rousseau had a very considerable impact in this area at the time. He is the single most important figure for understanding the transition between the Enlightenment and romanticism. He was revered as a forefather of the revolution due to his analysis of social injustices and beliefs in human dignity and freedom. He raised individuality to a state of â€Å"prime importance†. His thoughts on individualism seem to be the philosophical foundation for the American republic (the largest territory having a government proclaiming people to be free and equal). During the Enlightenment, nature meant human nature, but in the Romantic Period nature meant unspoiled natural scenery such as forests, lakes, mountains, the ocean, etc. There came a desire for these objects in romanticism. Rousseau was yet again greatly influential. He questioned the value of civilized society. His followers believed that the natural and free life of the Natives in America were superior to that of the Europeans who settled in America. Another thought of his became a romantic view. It was that the black African was a noble and proud individual who had faced the tyranny and oppression of old Europe. In Rousseau’s â€Å"Reveries of the Solitary Walker†, he describes the beauty of the Swiss landscape and his feeling of communion with it. He relates his feelings of the joy of â€Å"pure sensation†, an abandonment of oneself. His notion of â€Å"the abandonment of thought and feeling oneself in unison with nature† shows a true romantic ideal. Romantic artists tended to depict nature as a reflection of sensations on their own souls. An example of romantic â€Å"natural† art would be John Constable’s â€Å"The White Horse†. This painting has great emphasis on nature, even in the title. It hows a small white horse and an enormous amount of scenery. The accent on the natural world is extraordinary. His style was the forerunner of the modern approach to painting. Another very naturalistic painting would be Francisco de Goya’s â€Å"The Dog†, which shows only a dog’s head and almost no definite scenery, but very natural colors and content. The body of the dog is hidden behind something that almost resembles sandstone. This painting is also quite modern, Goya was similarly on the brink of the Modern Era of art. In Literature Keats, Dickenson, and Wordsworth were all very naturalistic in their approaches to writing. In a poem named â€Å"I Wandered Lonely as a Cloud†, natural objects are used to express a feeling of loneliness. Here is an excerpt from that poem to help prove this point. â€Å"I wandered lonely as a cloud-That floats on high o’er vales and hills, When all at once I saw a crowd, A host, of golden daffodils; beside the lake, beneath the tree, Fluttering and dancing in the breeze. † Simple, yet so lovely, a perfect example of how much nature was used in romantic literature. No matter if the writing was about life altering experiences or an ordinary day, many times the romantic poet expressed feelings through nature and with profound passion. The significance of individualism in the Romantic Era was astonishing. There are countless songs, poems, and paintings featuring this point in romanticism. Rousseau wrote, â€Å"If I am not better than other men, at least I am different! †. This is a terrific example of the individualistic thought at this time. The painting â€Å"The Dog† by Goya (used once before in this essay) is an almost disturbing example of individualism. The dog’s head is there all alone surrounded by an almost nothingness. The significance of the individual was ever present in art, but this painting shows almost a sadness about it, a sense of loneliness in its creativity. Literature was also full of individualistic thought. Walt Whitman’s â€Å"Song of Myself† shows this very boldly, the title alone gives that away. The way that he talks about the fashion in which his body naturally works made many people uncomfortable and shocked many as well. Whitman writes: â€Å"Divine am I inside and out, and I make holy Whatever I touch or am touched from The scent of these armpits aroma finer than prayer This head more than churches, bibles and all the Creeds. † This is obviously the extent of what people felt at this time, but this writing even shocks us today, probably because we have become more modest. In conclusion then, the Romantic Era was a period filled with love, passion revolution, individualism, nature, and many more themes like these. This period of time had spawned great literary works, paintings, plays, ballet, and much, much more. Passion and feeling are the most important elements in romanticism, practically everything was done passionately and with intense feeling, much like todays soap operas, which makes the Romantic Period one of the most impressive, most beautiful, and most extraordinary eras of all time.

Lab Report Example | Topics and Well Written Essays - 1000 words

Lab Report Example (a) Give the gender, age and height of your subject using SI units. Calculate FVC and TLC for your subject using the above formulae, remembering to include units. Show your calculations (6 lines maximum; 10 marks). (b) FER expresses FEV1 as a fraction of FVC. Given this information, why do you think that FER is often used, in preference to the simple variables FEV1 or PEF, when comparing different individuals, or when determining whether an individual’s reading is normal? (5 lines maximum; 5 marks) ROW 10. Calculate using the fact that oxygen consumption (expressed under STPD conditions) is proportional to energy expenditure: 1 L of oxygen consumed is approximately equivalent to an energy expenditure of 20 KJ. (20 marks) [NOTE: In the above table, volume data has been expressed using the terms ATPS and STPD. ATPS means the gas volume measured under actual laboratory conditions of temperature, pressure and humidity; these may vary from day to day. STPD conditions on the other hand are standardised, and it is necessary to convert ATPS volumes to STPD before carrying out the calculation for energy expenditure in the above table.] (b) How do your values for resting oxygen consumption and energy expenditure compare with â€Å"normal values† given in a textbook or other reference source? Suggest possible causes for any differences found. Give your source(s) as â€Å"in-text references†, and include the full reference(s) in the list at the end of this report.(8 lines maximum; 10 marks) (c) State the type of exercise your subject undertook. How does your value for energy expenditure during exercise compare with â€Å"normal values†, for the same or a similar activity, as given in a textbook or other reference source?Suggest possible causes for any differences found. By how much might energy expenditure increase during maximum exercise? Give your source(s), as â€Å"in-text references†, and include the full full

Rewrite Essay Example | Topics and Well Written Essays - 500 words - 4

Rewrite - Essay Example There are different pricing policies of Foodmart, which can be explained by the company’s convenience of retailing and potential profits gained from sale. Therefore, Internet prices differ from prices in the shops of the Company. Under conditions of agreements for online operations, Todd had to pay retail price, which is not indicated in the Internet. Henry Cheeseman states in his book, The Legal Environment of Business and Online Commerce: Business CurrEthics, E-Commerce, Regulatory, and International Issues, (2010) that to enforce a contract, there is a need to follow these requirements: to consider agreement, consideration, contractual capacity, and a lawful object. Todd was ready for agreement, when he agreed upon terms and conditions of online transaction. Todd was also considered about the sum of money, which he had to pay for the sauce. The object of the contract, chocolate sauce, can be considered a legal element. Thus, it is possible to claim that this contract is enf orceable. Todd wanted to buy chocolate sauce at a lower price, which existed in real environment only and was unavailable in online world. The store has a right to sell goods and products in accordance with its real pricing policy. In case a customer is dissatisfied or wants to change any issues of this policy, his claims are irrelevant. Thus, in this case a contract specifies that advertised prices are not applicable for online purchasing, which means that the contract is enforceable and Foodmart wins. Nevertheless, in case Todd did not sign in the contract and he did not mark â€Å"I agree† option online, this contract cannot be enforceable. The clients of online purchasing should agree upon the terms of agreements and contracts, otherwise there is no enforceable power in online purchasing. From another perspective, purchasing in the real world requires that customer

ROOM by Emma Donoghue - socialization and affects on development Essay

ROOM by Emma Donoghue - socialization and affects on development - Essay Example Somehow, the developments witnessed by the protagonist, portrayed by Donoghue mirror the Freud’s Oedipus Complex theory, which claims to be child’s maintaining physical and sentimental attraction to the parent of his/her opposite gender. Recent studies endorse the very notion that psychodynamic and person-centered methodologies have obtained profound popularity during twentieth century onward with regards to personality development perspectives. One of the most important reasons behind applying these approaches includes the exploration of the factors playing vital role in the personality development and formation during the initial years of human life. Hence, the works created by the writers, poets, philosophers, painters and film directors etc are analyzed and investigated into by keeping in view the psychological approaches articulated by the theorists while determining the factors of cognitive and personality developmental processes. Famous early 20th century American psychologist has articulated his Hierarchy of Needs Theory, where he has discussed the nature of the basic human needs and essentiality of the fulfillment of these needs for the adequate growth of the individuals. Five motivational factors, according to Maslow, include physiological, safety, social, ego and self-actualization. Physiological needs are those, which come under the definition of basic necessities of life i.e. food, clothing, and shelter, all of which are the needs without which man is unable to survive even for long. The second motivational factor i.e. safety discusses the sense of protection man requires for his mental peace and physical well-being.

International Human Rights Treaties Essay Example | Topics and Well Written Essays - 1250 words

International Human Rights Treaties - Essay Example Hathaway (588) states that there are two main UN-chartered based enforcements. The two are declarations and conventions. The extent to which declarations are effective enough to attract compliance is limited. This is because; declarations depend on the willingness of the host country to enforce certain laws. In addition, declarations are not legally binding. However, declarations have major political implications in terms of enforcement and the willingness to comply by the members bound by the said declarations. Under the international law on the other hand, conventions are legally binding. According to Neumayer (925), it is common knowledge that international human rights are generally under-enforced. The reason given for this under-enforcement is due to the nature of enforcement of such treaties, which is mainly done through transitional legal processes. The international legal processes in this context refer to the collaboration between various legal institutions across the world. Kinney (1457) also shows the distinct difference between obedience and enforcement. Obedience does not involve any consequences other than the fact that disobedience of the law may have indirect political, economic, and social implications. However, enforcement is subject to punitive measures in terms of violations. This implies that laws that are enforced attract legal measures and implications at the behest of the international community. The situation is often complicated when some nations are not part of any international community.

Retention Strategy in GENBAND company Essay Example | Topics and Well Written Essays - 750 words

Retention Strategy in GENBAND company - Essay Example GENBANDCARE The technical support provided by GENBAND Care is of extreme quality. For best solutions, GENBAND Care provides timely updates, intense SLA which is inclusive of 24*7*365 help as well as timely releases of software so as to ensure that the client’s network remains current and displays best performance. By providing the customers with greatest up-time, GENBAND Care makes sure that the customers enjoy uninterrupted revenue and the customers of the customers are provided with emergency services. In as many as 80 per cent of the cases, GENBAND provides the clients with effective actions of recovery in no more than 14 minutes. This makes the GENBAND’s emergency services and tendency of restoration among the best all over the world. In addition to the conventional features, GENBAND Care provides the clients with a service of software updates which covers up to 6000 elements worldwide. GENBAND offers comprehensive maintenance for hardware which is inclusive of serv ices for the repair of hardware along with managed spares programs that offer altering Service Level Agreements (SLAs) with a view to providing the clients with accurate responsiveness. GENBAND also provides post-disaster recovery services in emergency. This service is quite unique in that it allows access to GENBAND’s resources for emergency recovery and pre-emergency planning when a disaster takes place. Primary Portfolio Factors They include: 24*7*365 technical assistance for emergency Regular updates for software Hardware maintenance and repair Help desk for disasters Subscription of software Managed spares Advanced Services The portfolio of Advanced Services in GENBAND offers creative and value-added skills that are directed at promoting and improving GENBAND’s solution abilities with the help of optimization, integration and adjustment. GENBAND retains a team of experienced and well-trained professionals that are always available to assist the clients in streamli ning the multimedia services, reducing the cost of operation, enhancing the performance of network from one end to another, and thus increase client’s retention and satisfaction. The provisioning solution GENBAND offers manages more than 2500 switches that include both non-GENBAND and GENBAND ones. The provisioning solution also assists the carriers in solving and automating various tasks of configuration and provisioning on daily basis. GENBAND enables its clients minimize the time of recovery, support expenses and eradicate useless truck rolls with the help of its ticketing and testing solution which encapsulates more than 30 million lines. The Audit and Optimization services of GENBAND are meant to assist the clients in making estimates about the performance of their network and switch close to real time, thus developing a way to ensure proactive arrangement as well as optimization. The services of Revenue Assurance provided by GENBAND align the information regarding confi guration and billing and make it accurate, thus reducing the expenses for carriers and enhancing their revenues. Re-skinning of soft customers and their customization are two very important factors of the capability of GENBAND’s advanced services. Primary Portfolio Factors Provisions of service and product Access care Optimization of capacity, performance and