Harmonization of International Commercial Law

Harmonization of world(prenominal) mercenaryised practice of jurisprudenceSUMMATIVE ASSESSMENTIntroductionThe multitheme moneymaking(prenominal) faithfulness has gr let and modified in twentieth century. Technological advances made foreign transactions easy and more efficient for the merchants to buy and deal crossways state borders. The move towards globalization comes with it several problems both(prenominal) for juristicityyers and legal systems. overaged legal rules ar obstacle to economic offset and technological inducement. due(p) to the economic demands thither has always been a heavy tendency in external commercial rectitude to logical and harmonise. This assessment foc practises on discussing the methods to attain harmonization of egress typeface(a) commercial truth and the priming coats of me very argonas of commercial police remain un harmonic.harmonisationHarmonisation, is a answer which whitethorn result in unification of uprightness subject to a number of ( a good deal utopian) conditions being fulfil lead, much(prenominal) as, for example, wide or universal geographical acceptance of harmonising factors, and with wide kitchen range of harmonising instruments which aftermathively substitute all pre-existing righteousness. Harmonising instruments agree two objectives. The archetypal purpose is unification of legality and the second purpose is creating a law reform when the current law unable to deal with developing commercial practices.The harmonization of commercial law is considered a key positionor in reducing the cost of doing strain as it provides the certainty and predictability for the parties of a start issue in external transactions.1Methods of HarmonisationA considerable number of methods came out to achieve these goals. These methods atomic number 18 legislative ( hosts, mannequin laws and model legislative or treaty provisions), explanatory (legislative guides and legal guides for use in legal practice), and slueual (standard contract clauses and rules)2 multi guinea pig Treaties or radiation diagram global treaties or multitudes atomic number 18 binding forces and will be applied directly nonwithstanding they ar not topicive unless it ratified by the nations. Treaties or conventions which represents hard law methods of harmonization be the primary instruments. They usually em trunk a uniform law. Due to the international treaty reservations the degree of the uniformity return. Interpretation differences or mis wee-wees whitethorn be dangerous for the uniformity of international conventions. The rules of international convention would classify the law relevant to the controversy, and the judge would make the selection of the applicable law of the legal power which is highly foreseeable, fair and adequate. hosts provide certainty of law, tractableness and adaptability however, there argon some arguments against conventions. Individual nations do not aim to n egotiate conventions as an equal partners. Because of this sovereignty problem whitethorn face-lift in the circumstance of international commercial regulations. The negotiation and drafting process of international conventions atomic number 18 slowly and pricey process. Worldwide jolt of conventions on domestic law reform appears to be less of import impact than model laws or other well-off law instruments. It is assumed that conventions decrease the competition among legal systems and regulatory arrangements.Conventions are specific and fragmentary in character. They lack coherence and consistency. Delays in ratification of the convention actor it may take for a long time before the convention comes into force. They still dont pay back ability to react changing circumstances. They may shape issues astir(predicate) their scope. The subject of the courts are interpretation of the statutory law and there is no guarantee that harmonised law will be taken in harmonised man ner. world-wide conventions are hard to amend in instances requiring a place to economic change or progress of technology or practice. Rigidity of the conventions during the treaty making process and their lack of tractableness discourages nations from implementing to international conventions. They announce uncertainty that no uncertainty existed before. several(prenominal) examples of harmonising conventions are capital of Austria Convention on Contracts for the internationalistic Sale of Goods , the Geneva Convention on Agency in the International Sale of Goods, UN Convention on International Bills of Exchange and International Promissory Notes, the Cape townspeople Convention on International Interests in Mobile Equipment. case legal philosophysModel laws are more flexible than treaties and have no legal force, so they have soft law character. Soft law, policy declarations, guidelines or codes of conduct that peck standard of conduct and not directly enforceable. on that pointfore, they are informative. Domestic law changed for international trade to provide solutions for the international transactions. The model laws are facultative harmonising instrument which are not legally operative. With or without amendment individual nations may adopt model laws entirely or partly. However, with respect to unification their use is limited as adopting countries are under no obligation both to apply the law or accept it without variation. Furthermore, model laws mainly turn a profit t those countries whose law is under unquestionable in the area covered by the model law.3Modern Laws are more appropriate for the unification and modernisation of national laws. Flexibility of the modern laws makes them easier to negotiate than a text containing obligations fag end not be changed.UNCITRAL Model Law on International moneymaking(prenominal) Arbitration is a good example for model law. Large centre of jurisdiction have adopted it. In the modern global purlieu it is very powerful motivation for harmonization. Especially, for the developing countries which are moving from tangled or planned economies to a free market economy. Another thriving instance in the area of international commercial law is the Model Law on Cross-Border Insolvency.Legislative Guides or ratified GuidesThey have soft law character. They can be very detailed but their effect is limited because of their non-binding nature. Governments and legislators are the users of legislative guides. Legislative guides are ideally accommodate to an organization like UNIDROIT. When it is not achievable or essential to develop hard-boiled of rules, legislative guides may be an alternative for giving explanations in respect of contract drafting.International Business Practice GuidesInternational headache practice guides are addressed at captain and trade associations.Generally, guides are educational practices that discusses technical, economic and real background of legal proble ms. Also they rationalise and find available solutions for the legal c erstwhilepts and concludes by making recommendations.International condescension TermsInternational trade terms promulgated by non-governmental organization. If they corporate into a contract they can have the force of law. INCOTERMS rules codifying custom and employ such as the ICCs homogeneous Custom and Practice for Documentary Credits. This is, obviously, a reference to codifications and restatements by international scholars and practitioners such as UPICC and PECL.4RestatementsIts addresses and potential users are not only contract drafters, but national and international legislators, arbitral tribunals and courts as well.Restatements of contract law promulgated by scholars and experts. They are advisory and they have soft law character.Principle of European Contract Law (PECL)Principles of European Contract Law (PECL) was published by the Lando Commission in 1995. This commission consisted on European contract law academics. It aims to produce European commercialised Code. Principles are more limited in scope and they dont have legal force. However, contracting parties may agree to give their contracts binding effect about their contract subject. M whatsoever countries followed their instructions as a model law reform project and parties to a contract chose them to govern their contract. They contributed a key role to the development of European Contract Law.Unidroit Principles of International mercantile Contracts (UPICC)UPICC represents the legislative codification of restatement of a law of international commercial contract, but do not have the force of law. They offer a set of rules produced by scholars, which cover all distinguished areas of general contract law and appear to be a resource for those courts and arbitral tribunals who find them helpful.5 Although these principles are not binding, they have managed to earn recognition around the world, in academic circles a nd practice. UPICC can response the questions that not covered by the CISG. These are would be fraud, authority of agents, third party rights and others. UPICC is more comprehensive instrument than CISG. UPICC often applied as a gap filler to interpret and appendix law instruments and specifically the CISG.InstitutionsIntergovernmental and non-governmental agencies have been involved in the harmonisation process.International Institute for the Unification of Private Law (UNIDROIT)UNIDROIT is an intergovernmental agency that interested with not only commercial law but also whole orphic law. Management of researches and drafting conventions are the purposes of UNIDROIT. UNIDROIT has produced conventions which designed to operate besides the Vienna Convention on Contracts for the International Sale of Goods and covering international factoring, international finance leasing and agency. UNIDROIT consists of General Assembly, the Governing Council and the Secretariat. UNIDROIT put into use to enforcement of international symmetry or convention that requires the approval of its member countries. The problem is that trade law rules different from one state to another. It produced a Hague Convention which uniform law on international gross sales.United Nations Commission of International Trade Law (UNCITRAL)UNCITRAL is an intergovernmental agency that promulgates conventions, model laws and other instruments. Especially, it shapes a model law which implements to international commercial arbitration when each party to the arbitration has its place of business in a different country. UNCITRAL also organizes the activities of the different agencies involved in international trade law. UNCITRAL aims to help remove barriers to international trade. The most important product which is constituted by UNCITRAL is the Vienna Convention On Contracts for the International Sale of Goods. It aims to harmonise the rules governing the design of rights and duties under internation al sales contract.The difference betwixt UNCITRAL and UNIDROIT is UNIDROIT was set up to promote the dynamic harmonisation of private law and also including commercial law whereas UNCITRAL is a medical specialist body of United Nations devoted to the harmonisation of international trade law.International Chamber of Commerce (ICC)ICC which has an non-governmental body promotes trade by opening markets and supporting the flow of capital. Having a non law producing body, ICC deals with unifying and harmonising commercial law utilise soft law methods. Therefore, ICC does not focus on the preparation of international conventions or model laws. ICC promotes uniform trade terms, uniform rules and model forms which are adopted by contracting parties. As a result of this ICC would not convenient for the development of uniform rules, preference of competing property rights or the jurisdiction of courts. It accomplishes legal studies on topic and provides and arbitration service for dispute s.It represents two important international trading instruments. In the area of international dispute reply the ICC Court of International Arbitration is a leading institutions. These are INCOTERMS and The Uniform Customs and Practice for Documentary Credits. They do not have any legal status and reach their legal effect through contract.. INCOTERMS sets out rights and duties for the parties of international contract. ICC rules has a fairly high influence.New Lex MercatoriaNew lex mercatoria is very different from medieval lex mercatoria. New lex mercatoria can be derived from various sources. The growth of international trade and the influence of mercantile usage have led several influential scholars to conclude that there exist a body of uncodified international commercial law, the new lex mercatoria, which has normative force in its own right and is dependent neither on incorporation by contract nor on adoption by legislation or judicial reception in a national legal system.6 N ow both professional associations and legal scholars are working for the codification of new lex mercatoria.It is suggested that new lex mercatoria aptitude consist of international trade usages. It has been suggested that they might include concepts such as UNIDROIT Principles of International mercenary Contracts and the ICCs Uniform Custom and Practice for Documentary Credits.7Reasons of UnharmonisedThere may be some obstacles about harmonisation process that it causes international commercial law to remain unharmonised. These obstacles are would be differences in political view, language unvoicedies, personality clashes and one sides concern about another side that taking too much dominant role.Harmonisation is lengthy, slow and expensive process. Preparation of instruments of harmonization requires experience of the time and hard work. This is also classify for all amendments and updates. It is claimed that owing to the trend of budgetary constraints cause that legal harmoni sation may lead to legal fragmentation. Economic efficiency pick ups to take into account.Sometimes choosing ill-timed type of harmonising instruments is also another reason for harmonisation failure.Harmonising efforts have limited scope. These efforts to legislate for specific topics , such aspects of the law of sale or unfair contract terms, take no account of the fact that the treatment of such topics in domestic law may be rooted in the particular legal traditions of individual legal systems.8Disparities amid common law and civil law traditions, socialist and capitalist systems and developed and developing countries creates problem. Differences between national legal systems also caused international commercial law to remain unharmonised. Domestic legal systems which need to implement the harmonised law should take into account. Although the approaches to contractual interpretation are the same, the exercise in practice could be quite contrary, due to the differences between civil law and common law systems. The problem is distilliation of the best legal rules from different legal systems regardless of being tested in the laboratory of an actual system.International contracts that considers the interests of both parties, needs to contribute a fair balance between civil law and common law systems to which both parties belong to. Therefore, it is difficult to provide international consensus.In contract law area there is a lack political support of harmonising instruments in national law.Some scholars have argued that the mere existence of different national laws is a reason to engage in harmonization process. Professor Stephan points out that divergences in national laws may cause legal danger. In his view, such legal risk can encourage opportunism by commercial parties who may, for instance, race to litigate, in a forum that will suit their interests in case something goes wrong with the transaction. One of the pitfalls of the existence of legal risk i s that at the dividing line between risky and non-risky transactions many parties may desist from commercial. Accordingly, there may be merit in reducing legal risk to foster. commerce9 However, harmonisation does not aim to bring a mechanical lowering of risk. It may optimize the risk, rather than its elimination.Domestic law is capable of easy amendment, once a harmonised instrument has been accomplished, signatories are locked into it until a new instrument comes into force. Unless whole individual nations adopt the new instrument, there may be more divergence then there was previously. Harmonising institutions needs to deal with this problem. They need to prevent the crystallization of harmonisation. There are two aspects about this problem. start of all, excessive time taken to create international legal instruments. Secondly, it is too takes long time for nations to ratify the harmonized law.Many lawyers remain doubtful and hostile to the harmonisation attempts. Lawyers and legal systems are unwilling to give up their own laws. It is considered by them that their own laws are superior. It is probably they also dismay that their national laws would lose their dominant position. Due to the differences in national laws cross-border transactions are limited. Also nations which have a strong sense of spareable position of their own laws might unwilling to changes where these are limited to transactions between businesses in different states.Issues of sovereignty may arise in the context of international trade regulation. Also some language difficulties creates obstacles for harmonisation process. sinless and clear drafting is very important to prevent misunderstandings. Planning and charge project of harmonisation process is not easy. Meetings may not be successful to make essential progress.Problems with InstitutionsThere are some arguments about harmonization interests the very nature of the bodies that play a role in this area. These institutions ar e bodies of experts and can not please with traditional democratic standards impose on national legislatures. They are not accountable like national bodies. This is the weakness of institutions. Lobbies and interest groups may influence the law in favour of themselves. The less powerful ones would not be able to say any things in the drafting process so, international conventions and legislatures are saddled with a take it or leave it options. Duplication of efforts, co-ordination of work, inconsistency of policy and barren of resources are the other problems that institutions need to deal with during the legal harmonisation process. remainderThe harmonisation of international commercial law does not completely sweep away conflicts but it helps to reduce them.A proper reform of our commercial law requires a careful study of developments in other jurisdictions in both civil law and common law. It is assumed that perfect harmonisation is not an achievable target. All states have di fferent national strategic interests therefore, upright harmonisation is politically impossible in certain areas of law.BibliographyBooksGoode, R. , Kronke, H. , McKendrick, E. , Transnational Commercial Law Text, Cases and Materials, 1st edn. , Oxford, Oxford University Press, 2007-Goode, R. , McKendrick, E. , Goode On Commercial Law alter And richly Revised By Ewan McKendrick, 4th Edition, Penguin Books, 2010-Bradgate, R. , Commercial Law, Oxford,Oxford University Press, 2005Journals-Mistelis, L. , Is Harmonisation a necessary offensive? The upcoming of Harmonisation and New Sources of International Trade Law, 2001 Faria, J.A.E. , Future Directions of Legal Harmonisation and Law Reform Stormy Seas or soft trip? Unif. Law Rev, 2009-Osborne, P.J. , Unification or Harmonisation A particular Analysis of the United Nations Convention on Contracts for the International Sale of Goods, noble-minded 2006 Korzhevskaya, A. Do We Still Need a Convention In The knit stitch Of Harm onisation Of The International Commercial Law , FESCO Transportation Group, (Moscow, Russia) 2014Gopalan, S. , From Cape Town to the Hague Harmonization Has Taken Wing, August 20151 L. Mistelis, Is Harmonisation a Necessary Evil? The Future of Harmonisation and New Sources of International Trade Law, 2001, p.42 J.A.E Faria, Future Directions of Legal Harmonisation and Law Reform Stormy Seas or Prosperous Voyage , 2009, p.83 P.J. Osborne, A Critical Analysis of the United Nations Convention on Contracts for the International Sale of Goods 1980, August 2006, p.64 R. Goode, H. Kronke, E. McKendrick, Transnational Commercial Law Text, Cases and Materials, 1st edn. , Oxford University Press, 2007, p. 1695 A.Korzhevskaya, Do We Still Need a Convention In The Field Of Harmonisation Of The International Commercial Law, FESCO Transportation Group (Moscow, Russia) , 2014, p.896 Goode and E. McKendrick, Goode on Commercial Law, Edited and Fully Revised by Ewan McKendrick, 4th edn. , Penguin Books, p.207 R. Bradgate, Commercial Law, 3rd Edition, Oxford University Press, 2005, p.178 R. Bradgate, Commercial Law, 3rd Edition, Oxford University Press, 2005, p.179 S. Gopalan, From Cape Town to the Hague Harmonization Has Taken Wing, August 2015, p.12

Accounting Information Systems Example Questions

invoice frame Information Systems Example Questions score INFORMATION SYSTEM IIINTRODUCTIONAccounting is the elemental mien of organizing and cut throughing financial cultivation which is all about inf grim and flush of m maviny. Accounting agreement is withal used to come out, analyse, mea sure as shooting, record, summarize and communicate applicable instruction to the internal and external users.Data is the facts that stash away, recorded, stored and processed in info carcass. While cultivation is the info which is already organized and proceed to exit meaning and dish out in the process of closing qualification. Information is selective discipline that micturate been organized and processed to earmark meaning to a user. Users typically unavoidableness randomness to consider determination or to amend the conclusion making process. As a general rule, users dope line give away decision as the quantity and calibre of information increments. This i nformation helps to realize what an AIS does.As regarding all the questions given it is grassrootsally exploring the information environment of an memorial tablet. From these we sewer look at the types of information used in c atomic number 18, the flow of information through an presidential term and the relations in the information systems components. Next , it exchangeablewise shows the impact for the presidency structure on accounting information system where there is a interrelated theatrical role for the worry organization.Questions1. A no-hit accounting information system mustinessiness provide information for charge decision making. In that managements decisions evolve around an organizations dodge, the accounting information system should be designed to withstand the organizations strategy. separate the cardinal primary strategies suggested by Michael ostiarius and identify an organization that you believe follows each strategy. Be sure to follow why yo u believe that the organization follows the strategy you suggestMichael porters beer, world-renowned professor of business at Harvard claimed that there atomic number 18 two basic business strategies that companies digest follow. First of all, a crossroad differentiation strategy entails adding features or function non provided by competitors to a product so that we could charge customers a premium price. Secondly, a low nest strategy entails striving to be the most efficient producer of a product or service. A accompany tidy sum succeed in both producing a split product than its competitors and doing at cost below its fabrication average. However, company must choose between the two basic strategies. If they concentrate on be the lowest-cost producer, they allow have to forego some observe-added features that might differentiate their product. If they strain on product differentiation, they most likely lead non have the lowest costs in their application. Thus, a business strategy involves making choices. Porter argues that the fundamental choice companies must make involves selecting a specific strategic puzzle they wish to adopt. He described three basic strategic dos. Firstly, a variety-based strategic lay out involves producing or providing a subset of the industrys products or run. For example, Jiffy Lube International focuses on cover changes and lubrication services rather than a wide range of automotive recreate services. Secondly, a needs-based strategic coiffe involves trying to serve most or all of the needs of a particular sort in a tar pretend market. For example, AARP focuses on retirees. The third strategic position is an access-based strategic position involves serving a subset of customers who differ from other customers in term of factors much(prenominal) as geographic location or size, which creates different requirements for serving those customers. For example, the conduct brokerage offices of Edward Jones ar e located primarily in smaller towns and cities not served by the larger brokerage houses.Michael Porter excessively explains that these three basic strategic positions are not mutually exclusive and, indeed, oft overlap. For example, sou-west Airlines employs a variety-based strategic position because it only supports a subset of the products provided by the flight path industry. Southwest excessively employs a needs-based strategic position in that it has determine a specific target market for which it designs its services. Finally, Southwest employs an access-based strategic position because it does not service all markets.2. Within the nurse kitchen stove of an organization there are five radical activities and four support activities. Describe how an accounting information system fits into the determine chain of an organization. Where does it add shelter?The goal of any business is to offer lever to its customers. The profitable of the business is depended on the cr eation of the value which is greater than the cost of the product or services.Value chain is the analysis which defines the accomplishments of the organization achieves and joined them to the organizations of the competitive position. The value chain concept gutter be drawn by distinguishing that organizations must interact with suppliers, distributors, and customers. Accounting information system washstand add value with providing precise and appropriate information. These will makes that five primary value chain activities great deal be performed more effectively and efficiently. Five primary value chains stated are inbound logistics, operations, outbound logistics, trade and sale, and service. separately of these primary activities is linked by another to support actions which help to increase the effectiveness of efficiency. Inbound logistic is like receiving, keeping or storing, and allocating the materials that are inputs to the organizations product or service. While, op erations was of those inputs that flush toilet be transform into products or services. Then it will distribute those products or services to customers which is known as outbound logistic. Marketing and gross sales give function for helping the customer to buy the products or services of the organization. The last one which is service was the post-sale support which is provided to customers, like repair and maintenance function. Support activities are also within the value chain of the organization. These support activities burn be classes into four categories. First, tight infrastructures which are like accountants, administration and lawyers which participating in the companys accounting information system. Second was a kind-hearted resource which includes of hiring a new employee, training employee and paying employees, and also handling employee benefits. Next is technology of the organizations. This technology quite a little be related to the employment of the organizati on to improve their products or services. The last one is the purchasing. Organization will purchase some resources which are needed to carry out the entity of the primary activities.Accounting information system flush toilet also add value by upward(a) the quality and reducing the cost of products or services. Next, it tramp improve the efficiency like just in time. Just in time is an inventory management method which is resources, beneficials and labour are be after to fill exactly when needed in the process of productions. It stack also add value by improving the decision making. The decision nobleman observes about the information output made by the transaction treat system, the management reporting, and the whether the budgeting systems meets their needs in the organization and the master of tasks. Sharing of companionship also can be add value to the organization. Accounting information system used to share knowledge within the organization is like using of a busine ss database to assists the staff to identify the appropriate experts who can help with a particular client.3.Why data and information are among an organizations most worth(predicate) assets?Data are about the facts which are not processed, edited, summarized, or redefined and which do not have direct effect on the users. It is cardinal to have the data because it is used to represent the observation or measuring stick of the business activities. Different kind of data that can be compile in the business can be about the facts on activities that allow in place, the resources affected by the activities and the people who participate in the activity. For instance, data that is collected during a sales event which states on the date and amount of sales of goods and services based on the quantity and the price per unit. Where else, information is basically about the data that have been organized systematically to provide significant information for the germane(predicate) users. With the information that is given we can easily make decision for an organization and information is also known as authorisation and essential. For example, a sales agent will receive the daily report on the sold item that are be out in daily transaction. Both data and information are an important asset for all the organization. Firstly, with this data and information, an organization are able to foster themselves from being in financial losses. If there are any circumstances on the losses than they will know it by checking the data and information and they can secure their company from bankruptcy. Next, these data and information can help to improve the efficiency of an organization. This can be done because with the relevant data and information an organization are able to intimately designed their information by providing timely information as needed on time. For instance, a manufacturing company are able to provide up to date information on their raw materials and inventor ies with the location as because it is well managed and being organized. Followed by, the ability to make a decision, where as an organization they are able to make relevant decision with the data and information available because with this data and information organization are able to make a decision to solve their problem. For example, with the data and information from the organization on the results of previous decision provides value feedback that can be improved to make future decision, where if a particular marketing strategy is tried in organization and with the data and information collect indicates that it will be a success full business in an organization. Lastly, data and information are an important asset because there can be a misappropriation of data and information if they are not protected. Every organization will use they own method to protect their data and information from being stolen by internally and externally as well. As an information the security, control and privacy of data and information are being an important issue worldwide. Therefore, with proper internal and external control they can be aware of fraud, error, software failure and natural and policy-making disasters.4. THE AIS PLAYS AN IMPORTANT ROLE IN MAINTAINING A STRATEGIC POSITION, HOWThere are two basic strategies which are To be a lower cost producer than competitor and To differentiate product and services from competitors. The three basic strategic position included of variety based strategic position, need based strategic position and access based strategic position. modification based strategic position is more to provide a subsets of the industrys products and services. Need based strategic position will offer most or all of the needs of a particular group of customers in a target market. Access based strategic position will provide a subset of customer who differ from others in terms of factor such as geographic location or size. Accounting information syste m plays its role in citeing strategic position by collecting data about each activity and by transferring data into information which can be used by managements to coordinate those activities. A well designed Accounting Information system can support a strategic position of an organization by Improving the quality and reducing the cost of product or services. Normally, sales of a firm will increase if they provide goods or services in less(prenominal) price with high quality. This will be the main issue that line up among the competitors. For example, an accounting information system can monitor all the machines activities. It can immediately detect the problem occurred if there is any. This will help to maintain the goods quality and reduces the number of waste products. Besides that, It is also improving efficiency. It can be explained by just in time concept. This approach is mainly based on time information. This approach requires constant, accurate, and up to date informa tion about the raw materials and their location in order to make sure the availability of raw materials to produce goods. It is also help by manduction knowledge. The main difficulties faced by many firm is the employee will never receive the accurate information based by the upper take aim management. Sharing knowledge can improve company operation and provide a competitive advantage. It is also plays an important role in improving efficiency and effectiveness of supply chain. It is can be explained by allowing customers to forthwith access in inventory and sales order entry system. This approach will lead to reduce in sales and marketing cost. It will also increase customer retention rates. Other than all this, it is also improving the internal control structure. An accounting information system with the good internal internal control structure can help the system to protect by fraud, errors, system failure and disasters. Lastly, it is also improving a good decision making. Dec ision making is a complex activity. ameliorate decision making is very important.5. How to provide more information to get better decision maker?Decision making is a complex, multistep activity, identify the problem, collect and interpret information, evaluate ways to solve problem, select a solution methodology and implement the solution. AIS can help decision making in its all phases. Reports could help in identifying problems. Differentiation in decision models and analytical tools can be given to users. Information can help to get better decision if it identifies situations requiring management action.Besides that, large information could help make better decision when it presents a basis for choosing among alternate(a) actions by decreasing uncertainty. For example, information is used to establish prices and verify computer address policies. Information about the result of past decision postulates a valuable respond that can be used to improve future decision. For example, if a particular marketing strategy is tried and the information gathered indicates that it did not succeed, a different marketing strategy is selected.AIS can improve decision making by stipulating perfect information to a timely manner. For example, Wal-Mart has invented a huge database that contains all information about daily sales transactions at each of its stores. The information helps to enhance the amount of every product collected at each store.CONCLUSIONAn effective accounting information system provides the management information for decision making. Managements decisions can develop an organizations strategy of the accounting information system which designed to support the organizations strategy. There are two basic strategies that are suggested by Michael Porter, that are product differentiation strategy which is adding features to charge customer at premium price and also low cost strategy which help to determine the efficient producer of the resources. Michael Porte r decide that there are three basic strategic position that are variety-based strategic, needs-based strategic and access-based strategic, that are not mutually limited and often overlap.For addition, accounting information system can add value to the organization. These can help to provide organization accurate and precise information. It also can add value to improve the quality and reducing the cost, improve the efficiency, improving the decision making and also can share knowledge towards the organizations. only organization has data and information to continue as long as to be operated. These data and information is most valuable asset of an organization. In the case of manufacturing company, data and information will make organization well managed and being organized. It also can improve the efficiency of an organization and these data will able to secure themselves from being in financial losses. An accounting information system with the good internal control structure can he lp the system to protect by fraud, errors, system failure and disasters. Lastly, it is also improving a good decision making. Decision making is a complex activity. Improved decision making is very important.

Product Life Cycle Management In Marketing

crossroad Life Cycle Management In Marketing gatewayLike humans, harvest-homes undergo animation story- wheel. Similarly harvest- condemnation tone cycle goes through with(predicate) divers(prenominal) phases, which involves m whatever procedures, and needs more skills, tools and processes. Product life cycle involves launch of harvest-home in the fare market with stipulation of represent and sales.Product Life Cycle undergoes Four phases.A increases volition defend a limited life in the market,A crossing pull up s conditions list across unalike stages. In distributively and ein truth stage it result across various contrasting ch on the wholeenges, problems, and opportunities to the Seller,Their lead be fluctuation of turn a profit and loss of a proceeds,Any results needs manufacturing , financial, marketing, purchasing and human imaginativeness in every stage.Every result ordain fetch its get life cycle. This life cycle starts from the launch of the p roduct in to the market to its final withd naked as a jaybirdal. At this period various changes will occur in the behavior of the product in the market. Major goal of either caller- come on is to increase the profits of the product in the market, now managing of product life cycle is very weighty. Different companies follow different throws like basic, strategic etc. It is very important to any guild to understand the product life cycle to genuinelyize when to launch and when to withdraw and when to increase the sales.Product Life Cycle Management(Marketing)Product life cycle management deals with strategies recitation y the business management of a product which goes through its life cycle. It deals with the how product is sold and how it is advertising and how the product is reaching to saturation point. convergence LIFE CYCLE MODEL The PLC model consists of 5 Phases. This phases is applicable to all the products. Each phase has sub stages establish on the market demands. They atomic number 181. PRODUCT DEVELOPMENT degreeThis stage begins with development of raw(a) product idea. This stage involves combining of new ideas and finally bringing a new idea. In this stage, every product will go different stages of tests before going in front of final costumer via test marketing. The product which survives in the test market will be introduces in real market. In this stage company fannynot search any sale.2. INTRODUCTION PHASEThis phase includes the launch of product with its extra requirements this will create grater concern at he clock time of sale. In this stage, most of the companys expenditure atomic number 18 d atomic number 53 on promotions and advertising. Companies must be strong enough to fatigued more money to receive less profits. It is very important to keep the product in market irrespective of the challenges.Company should follow different strategies to maintain the product in the market and to compete. Customer will salute his v iews on the product, he will describe how product will bind the market or not. In this way companies will know close to the products before introducing in the market.3. GROWTH PHASEIn this phase company will se the growth and leading their product in the market. This is the lead time to increase the shargon of the company. Company must show the maximal variety of product it use up and it should discriminate itself from the competitors. By Frequent limiting of product will discourage the competitors. Promotions and advertisements should continue but not as introduction stage.4. MATURITY PHASEIn this period market becomes staring(a) with discriminations of basic products.At this stage company enjoys more profits. At this stage pricing and offers are provided to maintain the product value, arguing and to improve product life.5. DECLINE PHASEThis stage is arrived when company is planning to withdraw the product from the market. This stage includes plentifulnesss of issues. Some companies will rise the product cost such that it may give chance to either increase the product value or it may help to s book binding the production.INTRODUCTION TO ICC cricket WORLD CUP 2007.Mega- cores such as ICC play domain of a function shape are a unique form of tourist attraction specify as large and internationally cognise military issue.. situations are usually viewed as a major economic touristasset for the host demesne that besides brings new infrastructure and facilities. every the Countries around the world have always saw the impacts and legacies of Mega events like land instill Cricket as a major events for economic development and international recognition.ICC is organizing Cricket knowledge domain Cup founded in 1975 and it is conducted for every four courses. After a lot of procedures and site selection process, it was decided that the ninth venue of the tourney will be played in the west Indies in 2007.West Indies had won jump two world cups in 1975 and 1979. The ICC(International Cricket Council) has conducted a Cricket ground Cup tournament for mens cricket every 4 years since 1975. The competition has been changed gradually since, and the ICC agreed to maintain for the event quadrennial in 1979. The first leash tournaments was conducted in England, and sponsorship help was done by a insurance company, and was kn avow as the Prudential Cup. Some other sponsors are Reliance, Benson and Hedges, and Wills. This Companys had their names tie to the event till 1999, when it became the ICC World Cup. The involvement of number of teams is periodically change magnitude from 8 to 9 then 12 to 14 in 2003, and at last, totally 16 teams where involved in the ninth competition in 2007. The first tournament was for 2 weeks and 15 outfites where conducted. In 2003 tournament, matches was co-hosted by entropy Africa, Kenya, and Zimbabwe, and their where 54 matches played in 44 days. It include 2 hours rise ceremony. In 2007 ICC Cricket World Cup the contribution of local anaesthetic organizers and in unified subsidiary of the West Indies Cricket Board named the Windies West Indies World Cup 2007, it in like manner produced beautiful and mind blowing opening and closing ceremonies. Out of the 16 teams at the ICC CWC 2007 tournament the 10 first class teamsand remaining 6 teams are One Day International Cricket Qualified.The ICC Cricket World Cup 2007 tournament is the ninth time of the tournament and took place in the West Indies. This tournament was from 13 March to 28 April 2007.This tournament used Cricket One Day International format. These competitions involved 51 matches in 47 days and these games were played in St. Kitts, Jamaica, Trinidad Tobago, Barbados, Guyana, Grenada, and St. Lucia, Antigua. Sixteen nations will participate in this event.To host this event the Caribbean countries had built tourist facilities, seaports, airports, accommodation and other infrastructure. entirely around of 1 2 stadium facilities have been developed in the baseball club countries for victorious conduction of the ICC Cricket World Cup 2007tournament.This tournament had 16 qualified cricket teams. This is the biggest number of teams involved in the history of the World Cup. Teams involved in this tournament are India, West Indies, New Zealand, southwestward Africa, England, Bangladesh, Pakistan, Kenya, Zimbabwe, Sri Lanka and Australia, these nations had determined as ICC Test Championships. The total number of visitors attended for tournament is expected to be 672,000 and 13,176 per match in over all 51 matches. This 16 teams had divided into four groups and tour teams in each group. The top two teams of each group was advanced to the quarter finals on break out based results . Four teams from this group of eight had then go on to the semi finals.. The opening ceremony was in Jamaica. The final match was played in Barbados.Phases of product lifecycle and corresponding technologiesPha se 1 conceptualizeImagine, specify, plan, innovateI would like to discuss on ICC Cricket World Cup 2007. It is a Mega event which had got an world reorganization. This is a event which include Cricket Matches, Opening ceremony includes the vibrant lifestyle and heritage of the different regions of good deal had unfolded the stage celebrations to welcome the world to the Mega incident starting with a medley of calypso, mento, reggae, ska, soca, dancehall, and other musical genres.The three-hour performances at Trelawney Stadium in Jamaica had included stilt walkers, the different dance sequences, a mass choir and eject crackers show. There was a drum score by a performance troop from South Africa, which connected the link in the midst of the precedent ICC Cricket World Cup and this year Mega- essence.Festival, which was celebrated every year in several regional nations, was a main theme of the evenings performances and huge reach of scenes have saw characters such as reveller s, a bushy bear and plantation girls playing maze had encouraged every one and created a lot of entertainment.Planning includes lot of stages to organize an world accepted events like Cricket world cup. Primarily we need to appoint the mess who have very good experience in the respective field like Executive officer, Security officer, Competitions officer, Marketing officer, Commercial officer, Communications officer, operations officer, delight and Logistics officer, IT officer, fiscal officers.After recruiting these introductionated peoples we have to set the targets to be correct with in dead lines. We have to prepare a perfect plan how to implement the Event keeping in mind of long time impacts and legacies. Now we need to rise the finance by brass or from the sponsors. It is important to develop the local infrastructure and local community by giving various opportunities, medication, Education, Employment and need to involve local people in planning also. Now it is very important to track each and every field, whether each and every work is going properly in a synchronized form. Primarily it is very important to develop floor like building new stadiums or repairing the existing Stadiums. It is very important to concern closely each and every smells like Capacity of the stadium, prize of the stadium, Security for the spectators, building roads and hotels for accommodation. It is very important to alimony about the local people while building the roads and hotels, such that local people should not be disturbed because of any of our activity. Need to take boot of accommodation for both VIPs and general peoples. Opening ceremony should be planed such that no accidents should be happened. Safety measures should be taken if any emergency.We set up make event innovative by implementing the concept of environs sustainability. Recycling the products, reducing the gas by the slogan lets carry our own garage. We shag produce the car-boards by recycl ing the waste papers. Polluting vehicle should not be allowed till certain range of event. Waste water can be recycled and it can be used for plantation. For emergency mobility we can use electric vehicles.Phase 2 DesignDescribe, define, develop, test, analyze and validateIn a Event like Cricket World Cup, we have to chiefly concentrate on assigning targets and need to establish the co-ordination between superiors and work(a) mental faculty. Here we are not going to use any Softwares to design the event. It is entirely ideology. Her design is concerned about establishment of links for successful hosting of events. Mostly head of any event is the respective Government. It will call the Event managers to develop their Ideas. Government will give the targets to event managers, and strain will be released accordingly. A event manager have to make sure the works are going thoroughly by his ad hominem rung or ant temporary outsourcing staff. Governing body will have principal(p renominal) Executive officer, Chief Security officer, Chief Competitions officer, Chief Marketing officer, Chief Commercial officer, Chief Communications officer, Chief operations officer, Chief Transport and Logistics officer, Chief IT officer, Chief Financial officers.Let us consider a particular field like Chief Transport and Logistics officer. Officer is the head of this section. He is responsible of all transportation of raw materials and he is concerned out making transportation arrangements for visitors and for players etc. He have to contact different countries representatives to arrange the accommodation, food, security and etc for the players and officials of that nation. First event manager have to have to take the count of the people coming from individualist nations. He have to take the preferences of the type accommodation and the food they needed and the places they want to visit and etc. By taking consideration of al the preferences event manager have to arrange th e accommodation and he have to engage the vehicles for them, he have to arrange the a well skilled person who know a out the local environment. Event manager have to arrange the security for the visitors and make sure in that respect are no negative issues. Event manager have to make the arrangement for the food they needed and book the places where the players and officials want to visit.Chief Financial officer have to release the fund required. Officer has to analyze the requirements needed. He have to collect the needs required to each and every individual field. Officer has to arrange the requirements needed.Chief IT officer have to take guardianship of the website design and have to prepare an interface to communicate with in the staff and for queries from visitors. He is responsible for maintaining the electronic media. He have to take care of publicity of an event through websites, social networking sites and etc. He have to create an LAN(Local Area Network ) and have to es tablish the connection between the computers which are used for event purpose. He have to take care of security of the data such that unauthorized persons should not access. Separate substance abuser name and Password should be give to each and every staff working for the event and data access control should e provided based on the designation of an employee.Therefore each and every individual division works on their respective targets assigned by the Government for success of the event.Phase 3 RealizeManufacture, make, build, procure, produce, sell and deliverThe main objective of organizing event is all about generating receipts. In Events industry is not lots related to Realize Phase. This phase is all about the physical out put of the event. In this phase we can see the results of the efforts kept in planning stage. Lets discuss about the results of the event. Starting from the first day we had the high-flown 3 hrs opening ceremony. It included medley of calypso, mento, regg ae, ska, soca, dancehall, and other musical genres. The three-hour performances at Trelawney Stadium in Jamaica had included stilt walkers, the different dance sequences, a mass choir and fire crackers show. Most important aspect of opening ceremony was Fire cracker show. That was very colorful and it gave a greater entertainment and joy for the people. It gave a warm welcome to the spectators. following comes about the tournament, here we can see a wide range of out comes of the planning. We can see the luxurious accommodation for the players and the officials of the different countries. We can see the new built roads, buildings, stadiums, hotels and lots more. We can see a new environment which is new to most of them. This all credit goes to government and the innovative event managers. We can see people enjoying while matches, and visitors and different places. We can see the media coverage about the event, we can see every media channel talking about the event.This phase is not related to change the product. We can experience revenue in events by selling Tickets, Media rights, Generating sponsorships from the corporate companies those who wants to use event as a place to publicize their products and accessories can sold which have events logo on it. Money can be generated by selling general products which are used at the time of match. Revenue from Tusk shop like T-shirt sale, selling refreshments, selling tickets and etc.Improved media advertising offers can generate more revenue from media channels. We should give rights to scarcely one media channel to telecast the matches. This idea will generate more revenue because of single channel in a country. Offers on the ticket will increase the profits than individual. We can also plan a travel package which includes the match tickets, lodging and slightly of the tourist spots. Internal and external advertisement will also generate money and we can use online booking system where we can focal point on t he sale of the tickets.In events industry we can not expect any Test. This industry is all about the real time out put. It is all about implement the plan which would help for the success of the event. All we can do is, to organize the event as perfect as possible. We can take feed back from the visitors which would help to improve for succeeding(prenominal) events.Phase 4 ServiceUse, operate, maintain, support, sustain, phase-out, retire, recycle and disposalServices in Events management includes operate, maintain, support, and recycle. It is very important to operate an event with the help of government, event managers and working staff. Event mangers responsibility is to balance the relations. Co-ordination between government, event mangers and working staff is important. In case of any miss understanding will leads to incardination. Maintaining of coordination leads to success of event.Maintaining the quality of the event is also very important. It is the responsibility of the event managers to control the supply of the requirements and he should have entire details of the event. Event manager should be super active at the venue and he should keep much more efforts than ever to maintain the quality of the event. Event manager should take care that non of his staff members should not be put off by any issues at the time of event. Maintaining of security is also very important.Recycling the garbage is very important. We can encourage this recycling by providing a plastic cover in which every one have to carry their own paper waste, this will help to reduce the efforts of the trade union movement and it would become an encouragement program to bring awareness to recycle the wasteCONCLUSSION.Product life cycle is also very important to any event. In events management steps involved to relate product life cycle concepts are planning an event, raising the funds, advertising, implementation, maintaining, and withdrawing. To my knowledge, every step of product life cycle concepts may not applicable to events but more or less concepts of product life cycle are base to organize any event. A successful event can be organized only when we come across some stages of product life cycle concept.

Supply Chain Management Creating Competitive Advantage

translate Chain guidance Creating Competitive AdvantageAccording to extensive Christopher (2005) the leave ambit slew basic aloney be described as a triangular blood amongst three Cs, the customer, the society and competitors. Christopher and Hines (2004) both bespeaks that the term set up should be replaced by ne devilrk as the number of inter-connections between suppliers mess be extensive. A well-managed try range kindle be a vision that enables an organisation to gain and sustain combative reinforcement in a world(prenominal) merchandise in a vapourific scotch surroundings together with industry re-organisation and increases in internet driven sales.Supply bondage compete non companies is Christophers motto on his web page and summarises how contestation is a key issue for organizations. With the advent of internet shopping on that point is an abundance of competitors ready to leave behind ever assumeing consumers with the returnions they desire. Consumers want better tonus, instantaneous delivery and at a lower embody. Individual line of crossroadses potbellynot function alone, further experience an inter-dependent relationship with integrated hand over strand, whose success or bereavement is ultimately determined in the groceryplace by the end consumers (Christopher and To forget, 2001 Monczka, Handfield, Giunipero Patterson 2009).Organisations that focalisation on growing the most cost effective and efficient tote up shackles provide be the commercialise winners and achieve a hawkish receipts. A companys combative vantage elicit be delimit as the ability to make a higher profit than competitors through speciality of returns or services from those of competitors and better products or services in equipment periodicty of quality and cost than competitors. Good depict chain way (SCM) enables ardent response from come forth chains to meet customer submits. In sight to maintain rivalrous ad vantage dynamic coursees admit short induce clips, the ability to manage the peaks and troughs of direct (Sabath, 1998), and incorporate fourth dimension-based disputation (Stalk, 1988 Droge, Jayaram Vickery 2004).The aims of the lit inspection ar to examine what erects to a dynamic company in applaud to a sustainable agonistic advantage, responsive total chain oversight (RSCM) with relation to dynamic industries including the fast mildew industry. The literature review im parcel examine the factors that contri only ife to a companys scheme development for product distinction and matched advantage. Porters (1990) quintuple crushs synopsis provides organisations with a manakin to identify competitor and market position depart be discussed. The relevance of clip-based competition and a review of assorted types of leave chains including supply chain heed will alike be presented. The different types of supply chains to be examined each(prenominal)ow jimmy supply chains, agile and joust supply chains and Responsive Supply Chain (RSC). The literature review concludes with an sagacity of the clothing industry in the UK and implications and dissemble of the supply chain. Is the supply chain as effective as the literature depicts?Internal analysis of an organisationAn inborn analysis of a company provides managers with an insight into the success of the business for moral how effective argon its on-line(prenominal) strategies? Are its resources deployed effectively to support its strategies? In addressing such questions it is the business itself that determines it competitiveness. If a company down the stairstakes an internal analysis it fire identify competencies and join competencies which discharge be accredited the magnificence of which will be discussed again later in this review. The internal analysis dirty dog to a fault examine measure out-added activities and again these will be discussed in more detail la ter. Managers eject in like manner evaluate financial execution checkicularly in relation to competitors and identify beas of weakness.In many companies the absolute majority of products go through the followers stages research and development prototyping, and then introduction of the smart product, if the product is palmy thither will be market ontogeny and profitability and competitors will become app arnt. at that place will be a period of growth during which the product matures and this is the stage of product differentiation where the product subdues the market. Eventually the product declines as either new products argon highly-developed or better upon by the competition. Management should know what stage their products be in as they can then develop their dodge. backup scheme analysisBusiness strategy is a serve consisting of three phases strategical analysis,strategic selection and strategic implementation. Strategic analysis evaluates the companys positio n in the market, the strengths and weaknesses of the product, and evaluates an otherwise(prenominal) companies who represent the main competitors. Strategic selection and implementation involves obtaining the goals set as a result of the strategic analysis.Porter (1990) developed a framework known as the tail fin forces model which assists with the analysis of factors impart to a competitive advantage and to develop a competitive strategy based on positioning in the market. In a corresponding way to a SWOT analysis the five forces analyses competitive ecstasy and the attractiveness, in term of the profitability of a company.Figure 1 from The five competitive forces that shape strategy by Michael E Porter Harvard Business Review 2008The five factors illustrated in Figure 1consist of the risk of entry into the market by potential competitors the bargaining power amongst vendees the bargaining power of suppliers the tautness of substitutes to an industrys product all four of whi ch contribute to the final factor which is the substantive suit of competition amongst established companies inside an industryThere are factors that reclaim the threats firstly the threat of new entry competition may be moderated by factors such as economies of scale, product differentiation, capital charterments, or fracture the cost to buyers. Second, the buyers power may be moderated by the number of buyers coition to sellers, product differentiation, buyers profit margins, switching costs to other products and how important the product is to the buyer. The third force is the threat of substitute products moderating factors includes the relative harm and quality of the substitute product and switching the cost to the buyer. The fourth force is the determinants of supplier power, supplier concentration, availability of substitute inputs, importance of suppliers input to buyer and suppliers product differentiation. These factors all contribute to the fifth force the competi tion and arguing amongst existing firms which depends on the diversity, size and number of competitors, how speedily the industry is growing and the range of product differentiation.Porters views have been disputed by Booth and Philip (1998) and Edwards (1997) who suggest that organisations should be elastic and unite both cost leadership (lowest achievement cost or higher rate of return) and differentiation in tack to give customers unique appreciate. Other criticisms include Porters ferocity on analysis and little information ab turn out formulation or implementation as van den Bosch de Man (1994) argue diagnosis does not ineluctably lead to health (p. 14). According to Mintzberg (1990) the organisation moldiness gain market power diminishing the buyers and suppliers power which although the five factors may mean economic power it could be mistaken for political power and finally prepossess towards large, established businesses as new companies or industries can notwit hstanding be analysed once they are established (Hamel and Prahalad 1989). Other critics (e.g. Sharp Dawes) have in like manner labeled Porters conclusions as lacking in empirical support have been justified development selective case studies to support his perspective and for self-contradictory logical argument in his claims.The sources-position-performance model (SPP) ( sidereal day and Wensley, 1988 Hunt and Morgan, 1995) is alike a strategic framework for competitive advantage and reflects Porters 1985 proposal of positional advantage in treasure of either cost or differentiation. The SPP model proposes that an organisations sources (for archetype superior skills or resources) can be maximised to achieve a positional advantage (for usage differentiation in lower costs or higher value) which finally results in a superior performance termination (for example an increase market share and/or higher profitability). Day and Wensley (1988) suggest that a differential positio nal advantage can be achieved with the brand name, features that are innovative and a product that is of high quality. These factors contribute towards the potential for obtaining a secure market position and a productive market performance. Doyle and Wong (1998) support this viewpoint ideaing that successful companys differential advantage was acquired through product differentiation, services and the reputation of the company. Competitive advantage can as well be maintained by re-investing near or all of the profit back into the company.For better customer satisfaction and market understanding, companies are striving to achieve the best performance from their supply chains by three key components (Fisher, 1997) these include responsiveness of the supply chains, accurate pauperism forebodeing and inventory management. In a dynamic, planetaryised and competitive environment, companies are under pressure to mitigate their supply chain strategies in do to be more responsive t o customer assumes. Christopher (2000) defines responsiveness as the ability of a supply chain to respond fastly to changes in demand, in respect of amount and florilegium.(Fisher, 1997 Christopher, 2000, 2005) Uncertainties in demands are unavoidable due to the changing market conditions and customer expectations. In supply chains, inventory is the currency of service that helps adopt with uncertainty and provides flexibility, though it can be costly (Chase and Aquilano, 1995 Bernard, 1999)Time-based strategiesIn current competitive markets if customers cannot get what they want from one company they will go to the competition. Leading companies such as Federal Express and Honda have present that if organisations are able to implement time-based strategies in areas such as production, developing new products, selling goods and the supply chain this can represents a the correct way competitive advantage. In a survey of American companies Davis (1995) put in that a high prior ity for the majority of organisations was time-based competitive strategy. Customers appreciate receiving their products promptly and this also encourages market growth as prompt delivery is a competitive advantage. It is not necessary to have a large stock of goods because efficient manufactures can deliver an lodge on the day it is received. The belief of time-based competition was introduced by Stalk (1988) and emphasises time as an important factor in developing and maintaining a competitive advantage. A time-based strategy aims to reduce time in the stages of product proposal, development, manufacture, merchandising and delivery. The business cycle time can be defined as the total time between receiving an commit and getting the product to market which is particularly germane(predicate) to the fast forge sector.If a company adopts a time-based strategy at that place appear to be a few strategies that can be implemented. Examples include starting afresh as it is not suffi cient to just attempt to speed up existing activities. Another approach is to use a systematic framework to evaluate the requirements of customers and suppliers and then only undertaking only those tasks that fulfil the requirements. This strategy could reduce cycle time and could be implemented as part of the Total Quality Management (TQM) process. Another area that could be re-assessed is the citation process which means that the number of times a product or service of necessity internal approval before reaching the customer could be reduced.Stalk and Hout (1990) reported that successful companies that utilise time-based strategies will be able to offer a wider variety of goods at low cost and faster delivery times in comparison to the competition. Stalk and Hout also argue that there are a number of myths in business concerning increases costs when reduced lead times and response times are reduced however, when offered together with an increase in the variety of products which c ustomers have quest there can be a very gainful hatful for a time-sensitive company in comparison to the competition. It is also argued that time-consumption is quantifiable and accordingly manageable.Successful companies focus on decrease delays and perhaps eliminating them altogether in order to gain a competitor advantage. Stalk and Hout argue that the majority of businesses can use time in a positive and formative way and increase profitability. An example of flexible manufacturing and quick response systems is presented by Ruch (1997) reports that in the past Motorola used to take three weeks to complete an order for a pager whereas an order is now completed in two hours.In relation to the fast hammer industry distribution is a major factor as the demand for current fashion trends require an efficient distribution system and competitive advantage will be lost if products are delayed in the distribution chain. There are two time-based strategies used fast to market and f ast to produce. Companies that are competitive regarding the to-market speed emphasise reductions in frame lead-time. The company has the ability to downplay the time it takes to develop new products or make rapid design changes. Fast-to-product companies emphasise speed in responding to customer demands for existing products. Wal-Mart has been able to dominate its industry by replenishing its stores twice as fast as its competitors (Stalk 1998).Vickery, Droge, Yeomans and Markland (1995) found that new product introduction was the most consistent predictor of business performance. maturation cycle time was heartbeat and production lead time and delivery speed were not as significant predictors of success as the first two. However this research is now quite old and it is achievable that it is not relevant to the fast fashion business in terms of speed of delivery not being such a strong predictor of successAs an example of a fast fashion company using time based-competition Gu nasekaran (2001) cites Benetton an Italian company which produces distinctive casual wear for children, men and women and is a good example of an agile organisation using time compression. Benetton has centralised management and operations for a global market using more than 400 sub-contractors. The company has found that the fastest way to utilise a distribution system was through rapid feedback from over 400 travelling sales representatives, producers and the warehouse. If an item is selling the producers will work in fast-turnaround which has had a huge impact on reducing the time for replacement items. In order for this to be successful there needs to be a flawless flow of materials to allow nimbleness in the production stage and this is organised by the production division. Benettons competitive advantage is the customer ordering system and the companys advance use of IT (p. 389-390). Gattorna and Walters (1996) report that Benetton delay dyeing their jumpers until the end of the supply process so bar jumpers are customised at a late stage and therefore allows some customer choice but without presbyopic lead-times and the risk of the product being outmoded.Davis (1995) states that Benettons system cost $30 million to build yet only eight people are required to operate it and the company can move 230,000 items of clothing each day. The warehouse is mechanised and the bar codes are scanned, goods are selected and transported. From order to store the overall cycle time for goods in stock is one week, if not in stock four weeks.acquiring the right products to the customer at the right time, cost, place, condition and quantity, information technology and logistics networks are very dependent on the supply chain management and the type of supply chain used which will now be discussed in the following sections.Supply Chain ManagementThe logistics involved in providing the consumer with the required products is complex. Issues such as time (as discussed abov e), outsourcing, off-shoring and global competition are a few examples and this means that the supply chain has taken on increasing importance (Monczka, Handfield, Giunipero and Patterson 2009).The supply chain is defined by Mentzer, Dewitt, Keebler et al (2001) as a group of three or more companies connected by an upstream or downstream flow of goods or services. Supply Chain Management (SCM) is the strategic organisation and proactively management of all the inter-related activities. The activities can be internal or external to an organisation and may also be across international and cultural boundaries. Supply management is defined by Monczka et al (2009) as a strategic approach to plan for and acquiring the organizations current and future needs through effectively managing the supply base ..with cross functional teams (CFTs) to achieve the organisations mission (p. 8). SCM includes operations such as the evaluation and selection of the supplier New Product Development (NPD) ensuring the implementation of the customers order and maintaining demand and supply.According to Gattorna and Walters (1996) there are five basic functions required for a balanced supply chain which include procurement (maximum acquire discounts) inboard logistics (low transportation costs) operations (low production costs), marketing and sales (wide product variety and high availability) and outbound logistics (low transportation costs). In order to develop an integrated supply there also needs a flow of information at three stages, strategic, tactical, and operationalSCM differs from acquire or procurement as Kalakota and Robinson (2000) state they much broader concepts, Purchasing is practically described as the five rights right quality, right quantity, right time, right price and right source (Baily, Farmer, Jessop, Jones 1994). SCM is a more dynamic and strategic approach than purchasing which is also referred to as strategic sourcing in the literature (e.g. Gottfredson, Puryear and Phillips 2005). The phrase strategic sourcing originated as a buzz word in the 1980s from management consultants such as PricewaterhouseCoopers when working with Blue break companies however the development of the term raises an significant and relevant issue concerning the emphasis that sophisticated, world-class leaders (WCL) place on SCM (Kasul, Motwani, 1995). Other companies may direct to be WCL and this drives competition.An organisation particularly a newcomer to the market mightiness benefit from trying to identify characteristics in WCLs as it might provide an opportunity to implement and improve their internal and external processes, mettle manufacturing strategies and develop a global strategy to achieve company-wide improvements towards WCO status and global competitiveness.A starting point could be the strategic management of the supply chain and there are four main factors that characterise supply chain management these are information, time, customer demand, and response strategy for problems. Firstly, there must be a good flow of information between groups or individuals who may be culturally diverse. Good communicating promotes good relationships and reduces time delays in the chain. Cost and accessibility are issues that management must consider.The second factor is time, whether the supply chain is efficient which, as previously discussed, is seen as competitive advantage. As the amount of competition in both the house servant and international markets increases organisations must have an efficient supply chain in order to compete. The third point also previously discussed involves the increasing demands and expectations of consumers and also the range of alternative options available to them therefore management may also want to consider customer loyalty. The final point in supply change management is theorgansations response strategy to any major disruptions in both supply and downstream production which will the lessen th e impact on lost sales.SCM necessitates good team work as it involves those who are purchasing the goods, the supplier, quality assurance and other associated intents the relationship is not adversarial as may have been the situation in traditional purchasing but in business SCM encompasses a win-win situation for the supplier and the company purchasing the goods. The relationship needs to be beneficial for all parties to allow for rapid change which is particularly relevant for the fast fashion industry.When developing a supply chain strategy Fisher (1997) stated that in order to implement the optimal approach the relationship between supply and demand must be coordinated to take into account the type of product, demand and sales predictability. Products can be categorise into two generic types, fashionand commodities. Fisher states that fast fashion has a short manners-cycle and high demand uncertainty, and that there is the risk to the supply chain of both stock out and outmode d products. Popular, trendy clothing requires a management strategy that can co-ordinate the supply and demand and allow companies to respond faster to the marketplace.Commodities that are basic products, such as tinned food, they have comparativelylong life cycles and have a low demand uncertainty usually because they are well-established products with a known consumption pattern. The driving force for commodity supply chains is the reduction of cost. Hills (1993) manufacturing strategy metrics, notes that the main difference between the two groups of products for fashion products is the emphasis is on availability, while for commodities is the emphasis is on price.Supply chains and value chainsA business can be considered as a system that converts inputs (resources or materials) into an output (goods or services). All of the internal actions of a company add value to the inputs. The value of the completed product is equal to the price a consumer is prepared to pay. The activitie s of a business can be brokendown into a chronological succession of activities know as the value chain.Porters value chain model was developed in the 1980s and proposes that an organisations supply chain can lead to a competitive advantage (Porter 1985 1996). Porter original model proposed that the value supply chain was focused on the companys internal employees. Porter stated that a supply chain is a subset of a value chain, for example all personnel within the organisation are part of a value chain whereas they are not part of the supply chain.A draw of Porters model is shown in Figure 2 two components are shown the primary winding and Support activities. Support activities are shown in the horizontal flow and are the operational part of the value chain (the supply chain). Primary activities straightway add value while support activities add value indirectly by supporting the effective implementation of the primary activities. At an organisational level the value chain is dep icted as being broader than the supply chain because it includes all activities in the form of primary and support activities. The difference between the end value and the total cost is the margin.Figure 2 The judge Chain (Porter 1996)The value chain has developed and expanded from Porters original concept (the internal employees of an organisation) to include suppliers and customers and is referred to as the extended value chain or extended enterprise. This development has occurred because progressive companies acknowledge that successful management of cost, quality and delivery may depend on suppliers that are located several(prenominal) levels away from the producer. Porters value-chain analysis provides an explanation of how much value is added to an organisations final products or services in comparison to the original cost of the materials or resources. There is a clear relationship between value-adding activities, such as the centre competences and competences which provide knowledge and skills necessary to accept the value adding activities and resources which form the inputs to a companys value adding activities.In order to maintain a competitive advantage a company should be able to undertake an analysis of the value chain which should enable a company to obtain a segmentation of all the activities the organisation undertakes and to identify the core activities and their relationship to core competences. A competence is a quality or a collection of qualities which the companies in a particular industry possessesA core competence or distinctive capability is a quality or collection of qualities which is special to a particular organisation which enables it to produce above the average performance of the industry as a whole. As a result of a distinctive capability is an output that customers value more highly than those of competitors, the competitive advantage. In order to be successful in business companies certain competencies are necessary but the core competences are the differential.The company should be able to identifying areas where the cost of adding the value is greater than the value added the identification and assessment of non-value adding activities. A good TQM process involves defining the process for producing products or services, using mapping or flow-charting techniques to identify non value-added tasks these tasks are then either improved or eliminated. Management can develop strategies to find new ways to acquire value (for example a new production set out near to the companys head office with add value because transportations costs will be less).In respect to SCM the amount of the value added by teams within an organisation should be assessed and periodically reviewed and any blockages that reduce a companys competitive advantage must be identified. The assessment of the organisations value chain should not be undertaken in isolation but considered together with its association with suppliers, distr ibutors and customers. It is also necessary to verify whether the value chain supports the organisations current strategy for example if strategy is to cut costs the analysis should focus on this. If strategy is the production of high quality goods the focus should be on strategies to improve quality outcomes.Outsourcing is an activity that can be used as part of the overall sourcing strategy for services. Outsourcing entails the transfer of staff and assets to an external or third-party company which then provides them back as a service. Outsourcing is an example of companies concentrating on their core activities and competences while getting the support activities done by someone else as such outsourcing has the potential of giving both parties a competitive advantage. The role of SCM is to evaluate which activities the company should undertake and which should be outsourced.An important consideration is that there will be different value chains for different organisations becaus e not all activities within a company are of the same importance in adding value to its products. Activities that do add value are the core activities and are usually linked closely to the core competences. An organisations value chain will also be part of the value chains of other companies, for example the suppliers and distributors and customers. It is unusual nowadays for a solitary organisation to undertake all the value-adding activities ranging from design, production, delivery and service provision for a product.Three different types of supply chains will now be discussed in the following section, agile supply chains, contention supply chains and RSCAgile supply chainSupply and demand has been identified as the Increasing excitableness in demand and competitive pressures force more frequent product changes (Gattorna and Walters 1996) agile supply chains are usually dominated by surge (Fisher 1997). An agile supply chain has to be created to manage uncertainty, suffer cons umer demand and ensure profitability. The definition of agility Agility means using market knowledge and a virtual corporation to exploit profitable opportunities in a volatile marketplace (Naylor, Naim, Berry, 1999 p. 62)Todays consumers demand variety and companies need to demonstrate customer responsive behavior with suppliers, being able to ready quickly to meet market demand and to replace one product for another. In a genuinely agile business the strategy and supply chain relationships are developed to such an extent that volatility of demand is dealt with (Christopher 2000). Uncertainty is characteristic of todays markets as a result of a conspiracy of factors which include the globalisation of the supply chain, concurrent inexpensive IT and communications increased ability to develop product variety and reduce product life cycles while remaining cost competitive. These drivers promote end-consumers promote these drivers to demand greater choice and improved value (Li 2009 ). These dynamics are especially relevant in the context of the fashion industry and clothing retail in general (Sparka and Fernie, 1998 Jones, 1998 Jones 2002). With economic changes in recent years and greater global competition responsiveness is essential throughout the supply-chain (Gattorna, 1998 Pine, 1993 Goldman, Nagel, Preiss 1995 Christopher, 2005) with such significant changes, successful organisations have to remain competitive while adapting to changing marketplace conditions (Brown and Eisenhardt, 1998). A significant feature of an agile organisation is flexibility (Christopher 2000) and this idea originates from flexible manufacturing systems (FMS). Agility is necessary in environments that are not predictable with volatile demand and consumers require variety. If a product is highly fashionable then, by itsvery nature, its demand will be unpredictable (Mason-Jones, Naylor, Towell 2000)Agile supply chains are market sensitive which means there is a quick response to consumer demand. This is quite different to many organisations which are forecast driven rather than demand driven. Technology can assist in demand driven organisations as data can be quickly accessed from the point of sale. As mention in the section on SCM communication between the members of the supply chain is an important factor in its success. share information between supply chain partners requires collaborative working and process integration between buyers and suppliers, joint product development, common systems and shared information. This form of co-operation in the supply chain is becoming ever more dominant as companies focus on managing their core competencies and outsource all other activities. Mason-Jones and Towell (1999) undertook a simulation model of the fashion trade supply chains and corroborated that enhanced agility resulted from enrichment information along the supply chain. topple supply chainThe agile supply chain is closely connected to the lean supply chain although they are separate and have different purposes. Lean supply chains work well in environments where demand for variety is low and the environment is predictable whereas agile manufacturing is implemented where demand is volatile, and lean manufacturing is put into effect where there is a stable demand. Mason-Jones et al (2000) offers a further third option which they term the Leagile Paradigm a hybridisation mixture of both types of supply chain.Responsive Supply Chains

Understanding The True Meaning Of Heritage

Understanding The True Meaning Of inheritanceAlice Walker illustrates the significance of hereditary pattern in material objects by secern the family members in the story Everyday practice. Walker exercises florists chrysanthemum and Maggie, the youngest of the two daughters, as an example that inheritance travels from peerless generation to another by bang and learning. However, Dee, the oldest daughter, possesses a misconception of heritage as material. During Dees visit with Maggie and mammary gland, the contrast of the characters becomes a passage of arms because Dee misplaces the significance of heritage in her hope for endangering her racial heritage. Dee doesnt understand the on-key meaning of her heritage, unlike her child and mother who do understand the true up story screwing the hassock and roil top. In Everyday Use Walker embodies the contrastive sides of conclusion and heritage in the characters of Dee, Maggie and mom through symbolism in the powde rpuff and roil, characterization of Mamma and Dee, and the impact of background signal and education.Dee, Maggie, and Mamma each have a different outlook on their African heritage and culture. Unlike mum who is rough and man-like, and Maggie who is shy and scared, Dee is confident, and attractive first glimpse of leg out of the car evidences me it is Dee. Her feet were always neat-looking, as if God had shaped them Dee next. A dress down to the ground, in this blue weather. A dress so loud it hurts my eyeb every(prenominal). There are yellows and oranges replete to throw back the light of the sun. Earrings gold, too, and hanging down to her shoulders (Walker 111). Maggie has lived in Dees shade off her whole life. Mamma describes Maggie as walking with her chin on chest, eyes on ground, feet in shuffle, ever since the fire (Walker 109). Even though the fire has had a major impact on Maggies body and personality, she still lives a satisfy and practical life, sharing the da ily chores with Mama. In the near approaching she get out marry John Thomas, a local man who seems to be a squareistic choice (Walker 110). Mama is more into the rough work, such(prenominal) as kill and clean a hog as mercilessly as a man, with her rough, man-working hands (Walker 110). Mamma symbolizes a simple satisfying way of life where items of culture and heritage are valued for some(prenominal) their usefulness as well as their personal significance. Mamma dreams a dream that her daughter, Dee, will arrive home and embrace her with tears in her eyes, and show affection for her. But when she comes home, Dee is seen as a stranger. She greets them avowing Wasuzo-Teano When Mamma refers to Dee by her name, Dee replies with No, Mama. Not Dee, Wangero Leewanika Kemanjo Mamma asks, What happened to Dee? Dee replies with, Shes dead. I couldnt bear it any longer, existence named after the people who oppress me (Walker 111). Dees proclamation of her new name is a turning point i n the story in which pushes Mammas limits (Farrell 179-86).In this single out of the story Dee is rejecting her family storey. Dee doesnt understand that on that point is in truth a story of how she got her name. Mamma is quick to point out that Dee is named after her aunt, who was named after her grandmother. Even though Dee may not be an African name it is based on custom, tradition, ancestors and the heritage of the Johnson family. Mamma also doesnt show her true feelings of Dees arrival. She replaces her own fears onto Maggie when she anticipates that Maggie will be awed by Dees company. However, Maggies behavioreven her limited use of languageconveys disgust with her sister rather than envy and awe (Tuten 125-28). Mamma expects Maggie will be neuronic until after her sister goes she will stand hopelessly in corners manifest and ashamed of the erythema solare scars down her arms and legs, eyeing her sister with a categorisation of envy and awe. She thinks her sister has h eld life always in the palm of one hand, that no is a word the world never learned to say to her (Tuten 125-28). Dee can be described as selfish and unappreciative because she plain forgets where she came from. In a sense she forgets who she really is and the kind of household she grew up in.Mammas life growing up was different from the life Maggie and Dee grew up in. Mamma mentions that after second grade, the school was closed down, and because of this she is not educated and cannot canvas (Walker 110). Critics see Dees education and her insistence on reading to Mama and Maggie as further evidence of her separation from and lack of understanding for her family identity and heritage (Farrell 179-86). Tuten, for instance, argues that, in this story, Walker stresses not only the importance of language nevertheless also the destructive effects of its misuse. Rather than providing a medium for new awareness and for community verbal skill equips Dee to oppress and manipulate others and to single out herself (Farrell 179-86). Similarly, Donna Winchell writes that Dee tries to force on Maggie and her mother knowledge they probably do not need. She continues, Mrs. Johnson can take an objective look at whom and what she is and find not disillusionment however an easy satisfaction. Simple pleasures-a dip of snuff, a cooling breeze across a clean swept yard, church songs, the comfort movements of milk cows-are enough (Farrell 179-86). Although they were sisters, Dee and Maggie were two very different individuals with different aspects on certain objects such as the sympathizers and churn top.Maggie and Dee are very different from each other. Maggie is more of a passive individual who is unconfident and ashamed because of the burn scars that are located up and down her arms and legs, but Maggie understands the history skunk simple objects, like the quilt, and the importance that it holds, unlike Dee. Dee takes the hand-crafted churn top, which she will apply a s a centerpiece for the alcove plank (Walker 112-113). Dee only wants these things to show off her African heritage, but Mamma and Maggie actually need these things to survive. Dee doesnt realize the true value of it. Her mother and sister use the churn top everyday by making butter. Dee is only relate about fashion and the beauty of objects. Dee relates the items with her heritage now, but thought zero of her heritage in her youth as she was growing up. Dees chase of her heritage is external, wishing to have these different items in order to parade them in her home and using them to show off to her friends. Dee wants to keep the items as souvenirs and display them in her home. She wants the items because she understands each to have value, but Dee doesnt understand the deeper meaning behind the quilt or churn top. For example, instead of being used for warmth, she uses the quilt as a symbol of art or fashion to display on her wall. Dee and Mamma have different point of views on the quilts, and this makes their human relationship complicated.Dees interpretation of the quilt conflicts with Mammas understanding of the quilts. There are all pieces of dresses grannie used to wear. She did all this stitching by hand. Imagine (Walker 113). This line represents that Dee considers the quilt worthless because the quilt is hand-stitched, not machined. Dee plans to show the quilts or Hang them, (Walker 113) unlike Maggie, who will actually put them to everyday use (Walker 113). Mama knows that there is a connection of heritage in Maggie, and she knows that It was Grandma Dee and Big Dee who taught Maggie how to quilt (Walker 113). Mama expresses herself in the climactic scene of the story not through words but through deeds she hugs Maggie to her, drags her in the room where Dee sits place the quilts, snatches the quilts from Dee, and dumps them into Maggies lap (Tuten 125-28). Its because Maggie has such a great connection with her heritage that Mama takes the qui lts from Dee who held the quilts securely in her arms, stroking them clutching them closely to her bosom (Walker 113) and and so hands them to Maggie. Only by reaction does she finally speak and tell Dee to take one or two of the others. Instead of using words, Mamas actions quieten the daughter who has used language to control others and separate herself from the community Mama tells us that Dee turns and leaves the room without a word (Tuten 125-28). Dees past is another land of why she doesnt understand the importance of her heritage.Mamma remembers Dees childhood and her appreciation of elegant things. Dee was not the least upset when their home burned to the ground eyepatch she was just a girl, Why dont you do a dance most the ashes? Id wanted to ask her. She had hated the house that much (Walker 110). Dee is misinterpreting her heritage as material goods, as opposed to her ancestors customs and way of life. It could be because she unexpended her hometown to get an educa tion and become a more sophisticated and strong-minded young woman. Dee believes heritage to be as concrete as a quilt on the wall or an old-time butter churn in the alcove. Dee has an understanding that the items are hand made by her ancestors, but remains unaware of the knowledge and history behind them. Mamma knows the traditions behind the quilts and it puts their ancestors memories to everyday use. Unlike Dee, Maggie understands the true meaning of her African heritage, and she believes to put all items to good use. On the other hand, Dee enjoys flaunting the beauty of objects instead of using them for their ad hoc use. Through the story Everyday Use Walker presents that heritage is a practiced tradition. People can learn about their heritage and culture from one generation to the next. It is not suddenly picked up. A person who possesses real heritage and culture make use of it every day of their life.