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The next superpower of manufacturing economy
Over a period of many years, China has held its position as the world superpower of the manufacturing in the general merchandise sector. This is due to the rapid and dynamic growth in its economy, building focus in the world demand for manufacturing products and services. The country’s population, political stability and consumer interest and pattern can be explain its position as the world superpower of manufacturing in general merchandize. The country is however experiencing stiff competition from India, one of the world’s rapidly growing country economies.
India has in the past twenty years rapidly increased its share in the manufacturing industry. The country has recorded positive improvement in its gross domestic product (GDP). India just like China records one of the highest populations in the world (Ghemawat & Hout, 2016, p. 86). This offers a vast market for consumers and traders in the region. The country has taken advantage of its growing population to invest in merchandise market development. This has posed a significant threat to China’s position as the world superpower in the manufacturing industry.
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Subsequently, it can be argued that India is rapidly rising into the next superpower after China through their shift in development of technology (Gupta & Wang, 2009, p.25). The country is facing a drastic change in the industrial revolution through adopting a modern forms of technology applied in the manufacturing industry. This has increased their overall business performance.
India has tightened its grip in both the private and public sector, embraced trade liberalization and increased their involvement in foreign direct investment (Xingxing 2015, p. 685). This has primarily improved the manufacturing industry of India, making it a viable candidate as the next superpower after China.
Furthermore, the rapid expansion of information technology in India has accounted for the growth of commerce, business services, and banking. Moreover, India has gained an international reputation as an IT enabled center of the world. This has increased its global position in the e-commerce sector, improving its strength in the manufacturing industry globally.
In addition, India is experiencing growing investment rate, with an average of thirty-two percent compared to that of China at thirty-five percent (Mahtaney, 2007, p. 2455). This rate is set to project in the next year and India could surpass China’s the rate, making it the world superpower in the manufacturing industry.
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China is facing a significant challenge in their population, as a large percentage of the population is set to experience old age in the future years. This is bound to affect its general labor output, unlike that of India which is strengthening. India has a demographic surplus of younger generation increasing their task force in the manufacturing sector (Takeuchi, Chen & Lam, 2009, 86). The growing generation is also experiencing the best form of education, expanding their expertise in the sector. Based on these projections, it is predicted that India may overtake China as the current superpower in the manufacturing industry.
Reference List
Ghemawat, P, & Hout, T 2016, ‘Can China’s Companies Conquer the World?‘, Foreign Affairs, 95, 2, pp. 86-98, Academic Search Premier, EBSCOhost, viewed 30 March 2016./
Gupta, A, & Wang, H 2009, Getting China And India Right: Strategies For Leveraging The World’s Fastest-Growing Economies For Global Advantage, San Francisco: Jossey-Bass, eBook Collection (EBSCOhost), EBSCOhost
Mahtaney, P 2007, India, China, And Globalization: The Emerging Superpowers And The Future Of Economic Development, Basingstoke [England]: Palgrave Macmillan, eBook Collection (EBSCOhost), EBSCOhost
Takeuchi, N, Chen, Z, & Lam, W 2009, ‘Coping with an emerging market competition through strategy-human resource alignment: a case study evidence from five leading Japanese manufacturers in the People’s Republic of China’, International Journal of Human Resource Management, vol. 20, no. 12, pp. 2454-2470. Available from: 10.1080/09585190903363763.
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Human Resource Risk Management
Strategic Risk Management
Strategic risk management has been effective in promoting stability and mitigating risk within an organization. Specifically, international corporations are exposed to a different forms of risk from internal to external factors. In this relation, the need to adopt a suitable strategic risk management process is mandatory. This will be useful in ensuring continuous business operation as well as offer a tool for risk analysis and opportunity discovery for an organization operating in international markets.
The two method of risk management that can be used by the overseas organization to counter their risk effective are external risk management and human resource risk management (Frigo & Anderson, 2011, p. 22). Each of the two categories is specific to the nature and type of risk that they mitigate for the organization. They also offer various alternatives and opportunities in solving risk faced by the organization.
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External risk management
External risk management focuses on the competitive risk and market changes risk that an organization experiences while conducting business overseas. International markets are very competitive, and companies adopt a more elusive method of tackling external risk. Foreign companies operating in overseas market face external challenges such as economic factors, differences in market performance and preference, competition from local corporations and political constraints.
External risk factors can be minimized through increasing capital efficiency and support decision making. These strategies will help a company maintain its competitiveness in the new market and identify new forms of business operation. Companies have prospered through building investors’ confidence and establishing good working relationship to protect them from external risks such as competition and market changes.
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A case example of external risk management factors can be observed on a Thai non-profit organization, Wikimedia Foundation, Inc, operating in ICT which conducted a risk management on their company through analysis the external factors (Dana, 2011, p. 505). They are faced with poor technological competitiveness and market influence from other ICT companies operating in the international market.
Therefore, through validating and finalizing their risk the company developed a build alternative method of tackling the competitive risk. They also developed investor cooperative relationship with the local organization to tackle the external challenge.
Human resource risk management
This form of strategic risk management focuses on the relationship between the foreign company and the level of staffing coordination and employee theft being experienced. This kind of risk encountered by an organization can be managed through having a well-structured human resource management system (Frigo & Læ, 2012, p. 27). A strategy that is capable of taking care of the company staffing procedure and avoids employee theft in international markets is considered highly useful.
International companies face challenges in maintaining their staffing process and having a reliable team of workers. This, in turn, affects the development and strategic performance of the company. Accordingly, the adoption of human resource risk management can be imperative in controlling risk allocated by employee relationship and staffing
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International companies are advised to identify and evaluate their location and acclimatize with the local to ensure the stable relationship with the locals (McConnell, 2012, p. 115). Favorable employee relationship is effective in increasing business performance in various sector of the organization. The benefit of conducting a human resource management scheme is to guide the company in the pattern or performance among their staffing and have a reliable team to work within the business environment.
A case study of Black CAP, a volunteering international non-profiting organization that faced challenges in their workplace through the balance of fund and their staffing process is a good example (Cooper & Winsor, 2015, p. 34). Through adopting the human resource risk management strategy, they improved their annual operation through identity with the local employee to balance the cost of operation.
Dana L.K. Hoag 2011, “A strategic risk management program for agriculture”, China Agricultural Economic Review, vol. 3, no. 4, pp. 505-517. Retrieved from search.proquest.com/business/docview/912292275/42051F6C6D2A41E7PQ/2?accountid=45049
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Strategic Planning
Task 1
1.1. Factors informing the process of strategic planning
According to Bain (2014), the success of any strategy is determined by the strategic plans put in place. Effective strategy implementation requires a clear understanding of the process of strategic planning (Favoro, 2015). The set strategies should be in line with the firm’s goals and objectives since they represent the financial strength and sustainability of an organization. It is impeccable for strategic managers to show a clear strategic path for resource allocation and decision making to get the best strategies out of the available alternatives.
The vision of a business is the representative of what the organization wants to look like in future. Additionally, a vision statement tends to provide a picture of what the organization wants to achieve in the long run. On the other hand, the mission statement is short-term and aims to provide the purpose of the organization. The mission statement shows the stakeholders the position of the organization and its capability in the near future.
The goals of an organization provide the means with which it aims to achieve its mission statement, while the objectives are the desired returns that an organization would want to achieve (Iowa, 2011). Finally, the core competencies are the main differentiating factors of an organization from its competitors. Resources, skills, and activities that competitors cannot imitate provide for an organization’s core competencies.
All the laid strategic plans must be consistent with the goals, objectives, mission, core competencies, and vision of an organization since they are the determinants of the expectations of an organization’s stakeholders. Since strategic planning involves laying the foundation for achievement of strategies with the available resources, when all the stakeholders are satisfied as per the mission and vision statement, it becomes possible to implement the strategies for realization of positive results.
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There are a number of issues that affect the process of strategic planning. Strategic planning is referred to as a phase-by-phase procedure with the purpose of advancing the an organization. Of the issues that affect the process of strategic planning, there are five major factors that influence the procedure. Confusion of the strategy with the plan, disconnection from the reality, ineffective strategic analysis, lack of consistent ownership, and complicating the innovative process are some of the issues relating to strategic planning.
During the strategic planning process, some plans seem to liaise with already existing policies, making the current approaches seem void and managers may do away with the strategies. In the course of the process, some employees are not involved and still, the process is intellectual and involving making the strategic managers to be detached from the real world and come up with unreal plans (Bain, 2016). When there is great involvement and use of comprehensive analysis, the process ends up with so many details that make it unattainable.
Also, since it’s only a part of employees that are involved in strategizing and planning, it can be said that the process is now owned by all the employees hence making it difficult for them to be accountable and responsible for mistakes resulting from strategy implementation (Long, 2012). New strategies bring about new control measures which eventually reduces flexibility and innovative nature of an organization. All these issues dampen the process of strategic planning and it’s up to the strategic managers to deal with them before commencing the process to avoid loopholes for successful implementation.
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1.3. An evaluation of strategic plans systems
The techniques used for formulation of strategic plans differ in accordance to the strategy. There is a variety of techniques used for strategic planning but the chosen technique should provide the best possible strategic outcome. The main methods used for strategic planning include; directive, command, coordination, emergent and directive strategic techniques (Iowa, 2011).
A directive technique is used in large organizations that have a simple way of doing things. The technique involves a comprehensive study of the internal and external environment for the top management to carry out strategic plans. However, if the organization is large and complex, the suitable technique is coordination where all the departments and resources are integrated together to find the most suitable strategy.
A command technique is used in small and medium enterprises where the owner or owners get involved in the strategic planning process. The owner is responsible for strategy formulation, planning, assessment, and implementation since there are few stakeholders involved in the process. A combination of internal and external team of experts is used for strategic planning in the case of emergent technique.
Therefore, the effectiveness of a strategic technique is highly dependent on the type and nature of an organization. It is crucial for strategic managers to be familiar with their organizations in order to apply the best technique. Combining the different techniques provides for application of the internal and external environment, available expertise skills, as well as associating all the stakeholders in the strategic planning for effective results.
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Task 2
Successful organizations understand the need to update the existing strategies as well as develop new ones to have a sustained growth. Apart from understanding the objectives, mission, core competencies, goals, and mission of an organization; it is important to understand the micro and macro environment before formulating new strategies. SWOT analysis, PESTEL analysis, and Michael Porter’s analysis are some of the main tools that can be used in assessing the environmental factors affecting an organization for the formulation of new strategies (Sun, 2015).
2.1. McDonalds
McDonalds operates as a food chain and has a presence in 200 nations. Founded in 1955, it has continuously grown in market share and revenue through diversification of products and engagement in online selling to increase customer value for maximum satisfaction.
2.2. McDonald’s organizational audit
To carry out McDonald’s organizational audit, SWOT analysis is necessary. SWOT analysis is carried out to determine the strengths and weaknesses of an organization, as well as identify the opportunities and threats that an organization faces for the formulation of a sustainable strategy for an increase in market share.
Strengths
Ever since it was founded in 1955, the company prides itself in a great market share where it has established itself in 119 countries with more than 40 million customers.
Offers a variety of products and menus for customers. The diversity of products makes the company have a sustained growth and increase in revenues over time.
Utilizes up-to-date knowhow such as online marketing to increase customer value and market share.
Weaknesses
Although the company has a sustained organization environment, its main weakness is in the product delivery after the emergence of E-commerce. It is difficult to deliver products to all its consumers due to infrastructural problems and bad weather.
Threats
Just like other food chains, the company’s main threats are:
Intense market competition since there is free market entry.
Rapid changes in consumer tastes and preferences.
Penetration of the web
Opportunities
Globalization that has created numerous avenues for expansion of the company.
Technology advancement leading to diversification of trade through e-commerce.
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2.3. McDonald’s environmental audit
The intention of carrying out an organization audit is to understand the market that a firm operates in. Since McDonald has an international manifestation, its environmentally friendly inventory is influenced by technological, political, legal, economic, environmental, and legal factors. The environmental audit is a global one. Through the of PESTEL model, it is possible to carry out an environmental audit on McDonald’s.
2.4. PESTEL Analysis
Some governments may encourage the company’s presence in their countries by giving out incentives while some may restrict operations hence influencing the strategies set up by McDonald’s strategic managers. Economic factors that affect the strategies set by the company include inflation, recessions, demand, and the supply of the products. Also, the company’s operations are socially affected in terms of the culture of the different market segments such that McDonald has to formulate strategies are consistent with certain cultural orientation.
There are some governments that impose high tariffs and taxes on foreign companies or reduce the rates to encourage the companies and McDonald is not left out. In addition, the strategy of the company is affected by innovations like information technology as well as electronic-commerce, which have an impact on the manner in which company operations are carried out. All these PESTEL factors influence the company and the way it formulates its strategies.
2.5. Significance of stakeholder analysis in strategy formulation
Stakeholders are the persons who are directly or indirectly affected by the operations of an organization. Like other businesses, McDonald’s stakeholders include: employees, customers, lenders, investors and the government. To effectively formulate a new strategy, it is important for a company to analyze all the stakeholders’ needs and expectations of the company (Duggan, 2014). A stakeholder analysis is a procedure used to assess and determine the effect of the key persons in an organization as well as their influence in the organization.
A company`s appraisal is considered to: decide the individuals that will undesirably or definitely have an influence on organizations operations, comprehend the influence of the shareholders on the business, and come up with approaches that are reinforced by all shareholders as well as reduce the difficulties the institute might go through when implementing the strategies.
2.6. Advantages of stakeholder analysis in formulating a new strategy
It is possible to get expertise opinions that assist in shaping of a strategy as well as gaining support for effective strategy implementation.
When stakeholders are involved in strategy formulation, an organization increases its chances of getting extra resources.
It gives a clear understanding of the opinions people have for the company hence providing room for improvement through the new strategies.
New strategy for McDonald’s
With the rapid changes that are taking place in the market, the best strategy that McDonald should adopt is e-commerce so as to increase its market share and increase consumer’s value.
Task 3
It is important that various alternative strategies are looked into before implementation. Each strategy has its advantages and disadvantages and it’s the strategy with the best outcome that should be taken (Duggan, 2013). In line with the vision and mission of Marks and Spencer, substantive growth, market entry, limited growth, and retrenchment are some of the available alternative strategies. This section outlines the four alternative strategies and recommends a strategy for Marks and Spencer
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3.1. Background
Mark and Spencer is a multinational retailer offers a variety of products in clothing and accessories (Mark & Spencer 2016). The company was founded in 1884 and is one of the leading retailers in the world.
3.2. Evaluation of the alternative strategies by Marks and Spencer
Substantive growth strategy is formulated through mergers and acquisition. Suppose a business if sturdy in terms of finances, then this implies that it is able to consider a strategy. Marks and Spencer has a big market share but it can merge with another firm to increase the share for sustained growth. Also, an expansion strategy exists by acquiring another business as it will be at a reduced cost and procedures.
An inadequate development approach is integrated using a joint venture thus leading to a diminished competitive edge, thus Marks and Spencer do not consider it. Reduction of cost and assets as well as revenue generation is some of the retrenchment strategies available for Marks and Spencer. The company can reduce its operation cost in Middle East. Moreover, the company should strategize on taking up extra market segments in the world to increase its market share.
3.3. Recommended strategy for Marks and Spencer
The company best alternative strategy is sustained growth through mergers and acquisition. The firm is already financially stable and strong hence is in a position to acquire or merge with other businesses in the same line. The strategy is the best of the other alternatives since it will lead to cost reduction with increased market share and sales.
Also, the microeconomic challenges faced in some of the countries can be phased out through mergers with firms that are already stable in those economies. The competitive nature of the clothing industry requires uniqueness of strategies which can only be achieved by liaising with firms that already understand the culture of the people in the various market segments.
Task 4
A strategy is void unless it is implemented. After successful strategic planning it is crucial to identify proper methods for implementation. Implementation is the final stage and the way it’s carried out determines if the strategy will be successful (Sage, 2014).
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4.1. Honda’s Background information
The company is multinational and operates in the automobile industry. It is the second largest automobile and was founded since 1959. The company operates globally and has sells a variety of products.
4.2.Responsibilities and roles of personnel in strategy implementation
The formulated strategy has to be communicated to the different stakeholders either formally or informally. The functions of each organization are influenced by the novel approach and needs the application of an informed communication to reach out regardless if it is horizontal or vertical.
The personnel equipped with the implementation process are responsible for mapping the strategy, integrating the organization for delivering the strategy, and carrying out the change process as impacted by the new strategy.
The personnel have the role of mapping the new strategy to the internal and external users to make them have an idea of the prospects of the new strategy to the operations and image of the organization. By mapping the strategy, the personnel will also be involved in positioning the strategy to the existing culture of the organization so that it fits with the firm’s expectations. Finally, the personnel are tasked with the change process that results from the new strategy.
The middle management and outside parties are the ones that take the responsibility of strategy implementation. The middle managers implement the strategic plan that has been set up by top managers through making sense of the strategy to other stakeholders, interpretation and re-adjustment of the stakeholders view on the strategies, and advising the senior management on the implications of the new strategy (Lewis & McKone, 2015). Shareholders are convoluted in the modification procedure and compelled to make the policy flexible as envisioned by the organization.
4.3. Resource requirements for implementing a new strategy for Honda
Resource allocation is a strategic process aimed at aligning all of organizations resources to its goals and objectives. Resources are in form of finance, human labor, and infrastructure. All these resources must be used in such a way that they lead to the achievement of the strategies.
Honda required resources are finance and human resources since it is already in possession of the materials and tools required for strategy implementation. To achieve its innovative process of generating unique products, the company needs expertise skills as well as finance to undertake the process of research and development as well as start-up capital for the new venture.
4.4. SMART targets
For achievement of strategy implementation in Honda, SMART goals must be set. SMART stands for specific, measurable, attainable, realistic, and time-oriented. A strategy should be specific and clear to avoid complications during its implementation. A realistic target is achievable and falls within a specific time frame that is also measurable and is agreeable by all stakeholders. When a target is SMART it is easily implemented and is successful in the long run (Haughey, 2014).
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Conclusion
Strategic management is one of the crucial functions of a business. If all stakeholders are involved in the strategy formulation process, it becomes easier to implement and the required resources are made available. A strategy is said to be successful if it’s SMART has been analyzed using SWOT and PESTEL tools. After formulation, it requires different parties to take up the process of communicating the strategy in order to integrate all the functions of the organization for successful implementation of the strategies.
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Transocean Strategic Management
1.0 Introduction
The paper will evaluate the strategic position of Transocean, a major player in global offshore drilling services in the oil and gas industry. Strategic management is a process that entails formulating and implementing main objectives as well as initiatives a company takes based on the available resources. It also takes into consideration the evaluation of external and internal environment in which the firm operates.
Founded in 1953, the company is headquartered in Houston Texas. Transocean administrative division has since shifted to Vernier, Switzerland for tax and client servicing reasons. Various models such as STEEPLE, Ansoff and Porter’s Five Forces will be used to paint the company’s strategic position when it comes to, macro-environmental review, competition, diversification strategy, market development, product development and market penetration. To wrap up, the paper will make recommendations regarding the direction the company has to take to remain sustainable.
1.1 Analysis of Transocean Limited
Transocean is a prominent global provider when it comes to offshore drilling services for energy establishments. The company owns and operates the world’s most multipurpose flotillas that concentrate on deep-sea and extremely harsh environment drilling (Deepwater.com, 2016). With a fleet of sixty-one portable offshore drilling components, the company offers powerful rigs for deepsea drilling. Transocean helps clients to establish and develop oil as well as natural gas stockpiles.
The company offers an exceptional drilling performance that is anchored in a solid experience that spans more than a half a century. Transocean shares are listed on the New York Stock Exchange under the acronym RIG and Swiss Stock Market under the acronym RIGN.Transocean operates more than 140 offshore rigs in almost all mainmarine markets. Apart from offering drilling services offshore, the company offersdrill management services globally. Transocean operates not just the largest extreme-deepsea flotilla of drill ships global, but it is also the largest offshore fleet worldwide.
The company hires more than 20,000 employees with the technical expertise that is the envy of their business rivals(Deepwater.com, 2016). Moreover, Transocean provides management and accomplishment services for assessment and production firms regarding offshore drilling schedules. The company’s mission is to become a leading offshore drilling organisation that provides rig-based services with a global reach, by incorporating a highly dedicated workforce,state of the art machinery and ultra-modern technology, while concentrating on technically demanding environments (Transocean, 2007b)..
The company is dedicated to values that represent its focus, innovativeness, safety, trust and reliability. The company promises to surpass not just the anticipations of theclient, but employees and shareholders as well (Deepwater.com, 2016). Transocean’s strategic goals include getting aligned with its customers when it comes to supporting and ensuring delivery of clients’ business objectives.
The company conducts its operations with distinction which is characterized by safety and efficientoffshore solutions (Deepwater.com, 2016). In addition,Transocean keeps on enhancing its corporate culture and processes to optimize returns. Lastly, the company not only attracts but also nurtures and retains the industry’s best employees.
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2.0 Industry Trends
Drilling oil and gas was previously dependent on backlogs. Contract bores alter their rates based on their rig charges relative to retailing oil and gas prices. Usually, contract bores tend to wait on the day down, and speedily adjust their prices upwards depending on how the markets are performing (Redall, 2012). There has been a widespread pattern of extreme deepsea rig business with strong daily charges.
However, there has been a downward trend in mid-water rig markets. The most lucrative market lies of the Gulf of Mexico and West African coastal line, down to the south of Africa. The demand for deep-sea rigs is anticipated to remain jerky in the short-term(Helman, 2015).As of now, approximately 206 floaters are operating under contract across the industry (Deepwater.com, 2016).A large percentage of the total number is idle for completing major contracts.
3.0 Analysis the different types of strategic options
3.1Ansoff Matrix:
Existing Markets
Market Penetration
Product Development
New Markets
Market Development
Diversification
Existing Products
New Products
Transocean is a dominant player in a market that is not highly saturated. However, to remain at an edge over its closest business rivals, the company has adopted different approaches. Based on the Ansoff matrix, Transocean has been using a low pricing model to penetrate the market. When it comes to market development, Transocean has been offering ultra-deepsea drilling and management services in various parts of the world. What makes the company the envy of its business rivals is the fact that Transocean’s product development strategy works magic. Apart from ultra-deepsea boring services, the company offers rig and deepsea drilling consultancy services which is certainly some form of diversification hence competitive edge.
In short, Transocean operates in the same market by adopting a horizontal strategy in terms of expanding the product line. Lastly, Transocean has a predominantly diversified portfolio. To diversify risks, the company has necessitated mergers and acquisitions when it comes to financial management and technical expertise. The company operates in various regions such as the United States, the Gulf of Mexico, the North Sea, West Africa, and Southeast Asia, Middle East and the Arctic.
3.2Porter’s Five Forces
3.2.1Competition
Transocean threat of competition is moderate to high. For example, following a merge in mid-2007 between Rig and Transocean’s chief rival Global Sante Fe, this attempt reduced competition particularly, in ultra deep-water segments. While Transocean has almost a monopoly in ultra deep-water drilling, It is likely to enjoy less competition in ultra deep-water, especially in harsh climates that require technical personnel.
In fact, this contributed to the need for anti-trust lawsuit following the merger between RIG and GSF. Nonetheless, the firm has exposure to different offshore markets such as jackupsegment that is associated with intense competition in various regions globally as well as pricing (Porter, 2008). By and large, the organisation has less competition in ultra deep-water segments, with a somewhat intense competition in mid-water floater and also jackup segments.
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3.2.2 New entrants
Transocean enjoys a low threat of new entrants. With respect to offshore contract drilling sector, it requires huge investment in fleet and rigs before getting inflows from gas and oil organisations (Porter, 2008). This makes nearly impossible for new firms to enter this sector.
3.2.3 Substitute
The main threat of substitute is the changing the energy source from hydrocarbon to renewable sources across the world, which is not likely in the short-run (Turner, 2007). Therefore, the threat of substitute is low.
3.2.4Purchasing power
Transocean’s purchasing power is moderate. Much as exploration and production firms have power when it comes to negotiating, especially in mid-water floaters and jackupsegments, they have sufficient ability and provision of idle rigs. In essence, the buyers are in aposition to negotiate low daily rates in the contracts while ultra deep water segments maintain stringent rates (Schlumberger, 2008).
3.2.5Suppliers’ power
The supplier power is moderate. Transocean providers have some degree of power. For instance, suppliers like National Oilwell Varco take part in the decision making in constructing Transocean’srigs andother essential parts. Luckily, this is crucial for Transocean since National Oilwell Varco has a few plans of increasing the fleet of drillships. In general, benefits from pricing since they are the main clients to themajority of their specialised providers (Porter, 2008).
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3.3 STEEPLE
3.3.1 Social
The organisation takes part in various social activities, including charitable contributions to developing environmental initiatives to increase its reputation.
3.3.2 Technological
Technology is necessaryfor drilling sector as such Transocean gets its strength in technological development. While oil drilling and the ecology are related, so is technology and demand. Drilling in deepwater is more and more vital from drilling organisations since they are considered to be more profitable. The firm is positioning itself to capitalize in this segment. For instance, in 2007, Transocean acquired a drillship worth USD 470m to take advantage of deep-water drilling, which allows the firm to drill up to ten thousand feet.
Due to advanced underwater drilling, there has been a decrease in jackup rigs demand (Associated Press, 2007). This presentsTransoceanwith the opportunity to beat their rivals like Noble Corporation in the struggle for innovation. Currently, the firm is leading in deep-water exploration (Katsaros & Christy, 2005).
3.3.3 Economic
Cost is a major challenge for drilling organisations. As oil price rises, the cash flow increases too, which makes organisationsinvest considerably in drilling activities? Furthermore, the new techniques of recovering oil though they are essential in the growth of petroleum production, are leading to an increase in the gasoline price. Implicitly, thehigh price of oilis required to make drilling firms profitable. High global investment drives drilling.
With great interest to drill in foreign regions, global investors are significantly investing, hence leading to expansionof oil and gas sector (Maksoud, 2007).Even though raising oil cost will adversely influence Transocean, in reality, will be beneficial in the long run. Oil cost is inelastic. In other words, afluctuation will insignificantly affect demand. Therefore, increasing oil prices willboost cash flow for Transocean, which means additional business like funding new drilling projects.
3.4.4 Environmental
On environmental protection, Transocean is committed to enhancing its stringent police on Environmentalmanagement system (EMS). Transocean’s EMS visitation is conducting its operations in a standardised manner that fulfills the high levels of stipulated laws to drive continuous enhancements while instilling ownership across its facilities (Transocean, 2007a). The organisation is environmentally sustainable by way of using green products and assessment is utilized as part of routine operations.
The firm also focuses on recycling. Additionally, Transocean has set up a recycling plan, where recyclables are sorted and compressed in rigs. After compression, they are transported to Tech Oil Products and donated to a recycling hub in the ARC of Iberia.
Transocean has collaborated with different oil and gas firms such as Subsea 7, and BP in the SERPENT project. Thisentails necessitating access to the installations, in partnership with their customers to present scientific knowledge to experts in the SERPENT project (Dictionary.Cambridge 2012). In turn, the analysts conduct various projects including assessing biodiversity and effects of drilling on the environment.
The analysts also work on the company’s rigs to study marine species (Transocean, 2007a). By and large, Transocean protects the environment in which it operates to demonstrate that the company recognises the consequences of natural demand shifters.
3.4.5 Political/Legal
Oil presents this organisation with a strong political force. Because oil is the primary source of energy internationally, thus, the supply of oil is related to power regardingpolitics; oil firms leverage authority over regimes (Dictionary.Cambridge 2012). With no oil organisations, United States is likely to lose its dominance in developing nations remarkably. Though oil drilling firms are fundamental in giving regimes the authority, they are still regulated and work as per government laws, such as prohibiting drilling in particular regions like the Gulf of Mexico to protect the environment.
In 2007, the Congress was promoting the closure of a quarter-century ban on the production of offshore energy. This decree banned 85 percent of all drilling in United States’ continental shelf, greatly affecting oil drilling firms including Transocean (Kamalick, 2007). Furthermore, the Congress were supporting the opening of additional shorelines, which was associated with renewable sources of energy, as such they sought for support from environmentalists. While regimes exercise their authority on oil and gas providers, these providers, in turn, have authority over the very regimes.
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3.4.6Ethical Standards
Transocean aspires to ensure financial discipline in their disclosure, honesty and candor in all their engagements with clients, ahigh esteem for employees, customers and suppliers, the safety of employees, property and the ecosystem and technical leadership. Loyalty to these core values demands the company to execute its operations in tandem with thelaw and the utmost standards of business ethics.
In advancing that objective, the company embraces the Code of Business Conduct and Morality, the firm’s environment is also a corrupt free zone and an Anti-Corruption and Business Conduct Policy takes care of that. Again, directors and employees are not allowed to enhance the culture of inside trading. Nonetheless, all employees should adhere to the privacy policy.
4.0 Recommendations
Since oil is directly associated with international authority, oil drilling organisations have authority over regimes, nevertheless, with another alternative, Transocean should continuously go this direction to maintain the lead if the primary source changes
Much as the company has advanced drillship tools, it should take a notch higher by researching new products in comparison to its rivals.When it comes to maintaining competitiveness in oil and gas industry, Transocean should use differentiation strategy that will be vital in developing clients’feedback and service delivery. The differentiation strategy should focus on quality rigs, particularlydeep-water drilling and ability to survive environmental disasters such as hurricanes.
While this threat of substitute islow, in future it may reduce the demand for oil. For that reason, Transocean should create awareness among clients about the benefits of oil in comparison to other energy sources. This can be carried out through advertisements. For instance, the organisation should use ads that demonstrate even with the use of alternative sources such as ethanol, which is considered environmentally sustainable compared to oil. Ethanol requires aconsiderable quantity of biomass. In the even that US, ethanol from corn is employed on a large scale, then it will contribute to increased costs of corn.
The prices of beef will also skyrocket remarkably as cows feed on corn products. On the other hand, if Brazilian corn is used thatis produced from sugar; rainforests in the region will be cut to provide land to grow sugar. Creating awareness through ads will help Transocean increase the demand for oil while increasing the demand for petroleum products from the company.
The company should embrace Ansoff model to diversify its portfolio. Instead of concentrating on drilling and consultancy, the company can take a leap of faith and venture in other business like marine transport, finance, healthcare, real-estate, heavy metal processing among others. Diversification is critical because it will help the company spread risks, when oil business is at its low.
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5.0 Conclusion
The study set out to evaluate Transocean position in the offshore drilling services. The company’s background, values and strategic goals were highlighted at the outset. To understand the company’s product and market development; market penetration and diversification, the Ansoff Matrix was used. The Porter’s Five Forces were employed to establish the intensity of the competition. However, STEEPLE model was used to evaluating the company macro-environment. In the end, the paper touched on the best practices as assured by ethics codes. Recommendations were made regarding the corporation’s future.
6.0 Bibliography
Associated Press 2007. JP Morgan Securities analyst upgrades GlobalSantaFe, Transocean to “neutral.” Retrieved 17th March. 2016 from Factiva.
Berman, A. 2007. Drilling advances. World Oil, 19. Retrieved March 17, 2016 from Business Source Premier Database
Deep Sea Drilling Project 2015.” The Columbia Encyclopedia, 6th ed.. 2015. Encyclopedia.com. 17 Mar. 2016 <http://www.encyclopedia.com>.
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Advanced Practice Nurse
Introduction
As a nurse in Plainfield community at union county New Jersey, it is essential for me to prepare for the metamorphosis within the nursing practice. Expanding my role of practice within this region remains an essential factor that needs to be achieved through the advancement of nursing practice that entails a transformative effect within the healthcare system of Plainfield community at Union County in New Jersey. This paper therefore needs to analyze the significant roles and status of my practice within the state of New Jersey as an advanced practice nurse.
The States Report Card
According to the New Jerseys report card, the state of New Jersey has a population estimate of 8,938,175 with the poverty rate of this state standing at 11.4%. The health indicators within this state indicate that some of the chronic diseases that are prevalent among this population include cancer, asthma, diabetes, chronic kidney diseases, HIV/AIDS, Heart diseases and stroke, and tuberculosis (Centers for Disease Control and Prevention. 2013).
The reports also clearly indicates that the access to health care services and resources is more than the lack of health insurance with the understanding of public health care systems and having care providers remaining some of the key elements that determine the manner in which access to these services are employed(Green, Tones, Cross & Woodall, 2015). This indicates the reason why this state is captured in the health report card.
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How this Impacts Community Needs In Terms Of Access to Health Care
In other words, this factors impact the needs of the community in relation to access to resources as a result of the decentralization of resources and nursing staff that is steadily rising. This critically points to the need of advancing my nursing knowledge in order to provide quality services within this community.
How These Community Needs May Impact my Nursing Roles
It is vital to consider that the needs within this community have an impact in my nursing roles. In this case, there is a need of developing good skills through the acquisition of education with the aim of performing the required roles within this region. On the other hand, there is a need of having a clear understanding of the community and their health needs in order to perform my nursing roles effectively (The National Organization of Nurse Practitioner Faculties, 2012). This therefore requires the application of knowledge on the specified areas that are of challenge within this community in order to meet there health needs.
The role of the advanced practice nurses in my practicum clinic setting and how they differ
In determining the role of my practicum setting and the manner in which they differ with that of an advanced practice nurse within my community, it is vital to consider that the aspect of resource dispensation and nursing education varies to a wider extent. These roles are considered to vary in accordance to their purposes and the philosophy that critically focuses on specified roles within the environment (U.S. Department of Health & Human Service, 2013). However, this points out to the need of effective skills and education in achieving the expected outcomes within this community.
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My Community and the Impact It Has On My Clinical Practice
On the other hand, it is also vital to consider that my community has an impact on my clinical practice. This is attributed to the fact that there are several health needs that need to be met and that require the appropriate skills in handling. As a result of this, there is need to ensure that appropriate measures are in place to aid in addressing the communities health needs including staffing the community health centers with an advanced practice nurse.
Conclusion
Expanding my role of practice within remains an essential factor that needs to be achieved through the advancement of nursing practice that entails a transformative effect within the healthcare system of Plainfield community at Union County in New Jersey as an advanced practice nurse.
References
Centers for Medicare & Medicaid Services. (n.d.). Retrieved June 11, 2013, from http://www.cms.gov/
Green, J., Tones, K., Cross R., & Woodall, J. (2015). Health promotion: Planning and strategies (3rd ed.). Thousand Oaks, CA: Sage. Chapter 5, Information Needs? (pp. 211-256)
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Manchester United Football Club; Strategic Analysis
Executive summary
The main purpose of this report is to provide a critical analysis of Manchester United Football Club internal and external factors affecting its strategy formulation and implementation. PESTLE Analysis and SWOT analysis are some of the tools used to access the factors affecting strategic management and evaluation in the company. Finally, a recommendation is to be given for the best applicable strategy using Ansoff Matrix.
a. Corporate objective
One of Manchester United’s business objective is to increase revenue by expanding its businesses. The company’s strategies comprise of expansion of global portfolio sponsorship, development of the retail business, enhancement of broadcasting news and taking advantage of the digital technology. Additionally, Manchester obtains revenue from some businesses: broadcasting, sponsorships, retail, merchandising and licensing, mobile content, and match-day tickets (Manchester United, 2016).
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b. Macroeconomic analysis
PESTLE Analysis
Strategic decisions made by the company are highly affected by macro-economic factors such as taxes, governing laws and regulations, as well as demographic changes (Sue, 2013).
1. Political factors
These comprise of the laws and regulations that govern the way an organization carries out its activities. The government regulates a company’s activities through tariffs, taxes, and incentive provision. Since the company’s goal is to increase revenue in its existing business ventures, it is important to adhere to tax payments to ensure that its activities are not interrupted through legal claims. For example, the company had a case for failing to pay taxes as required.
It, therefore, calls for managers to ensure that the company liaises with the set regulations to ensure the business activities run smoothly. In many countries, there are stadiums that fans use to watch football matches (Aileron, 2013). Also, broadcasting corporations are charged for airing the football matches. The revenue collected by the governing authorities as a result of the football matches in connection with the company help in enhancing the stakeholder relationship leading to minimal regulations.
2. Economic factors
Inflation, living standards, and growth capacity of a set target market influence the strategies set in place. Since the company runs some businesses, it formulates specific plans for the different ventures. In the retail, merchandise, and mobile business, the company markets the products in new and emerging economies to increase its market share. More products are shipped in countries that are facing inflation since the value of the product rises against the local currencies. The company also manufactures products in varying degree of performance for different income earners to increase specific customer value and avoid market discrimination.
3. Social factors
Different countries exhibit varying social and cultural perceptions. To take advantage of the social issues, the company the company employs players from different social backgrounds to increase its global penetration. Since football is social, it provides room for the company to integrate different groups of people by the provision of uniformed merchandise.
The sale of t-shirts and shoes with the company’s logo keeps its fans united and, in essence, leads to increasing in revenue collected from the sale of tickets (Manchester United, 2016). The company’s fans are united through the United’s anthem and uniform products. The company’s strategic managers make use of the unity amongst its fans to diversify its product portfolio for increased revenue and profits.
4. Technological factors
The world has become a global community due to the improvised technological advancements. Digital technology is one of the major technological advancement that is used for business strategies. The majority of consumers watch football through the social sites. The company uses the sites such as Instagram, Facebook, and Twitter to market its match-day activities for ticket sale as well as its merchandise.
Fans are united through the sites and made aware of the company’s strategies as well as get their needs for an increase in customer value. The company was able to generate more than $10 million in revenue in the year 2015 through its mobile content activity. Through the website, followers are updated about the company’s activities and products making technology a vital element in its strategy formulation.
5. Environmental factors
The internal and external environment is another factor affecting strategic formulation and implementation by the company. Provision of conducive work conditions, as well as an exercise in corporate social responsibility, are some of the measures Manchester takes into consideration to make its strategies effective. The company outsources its operations and follows the set environmental protection standards to ensure it minimizes pollution and protects the environment.
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6. Legal factors
Legal standards and regulations should be followed to ensure that there are market sustainability and growth. Through its legal team, the company takes care of legal issues and ensures all departmental functions operate as required by the legal authorities to ensure there are no obstacles while carrying out its normal business operations.
c. Competitive analysis
SWOT analysis is another effective method used to assess the potential implications of a strategy (Ovidijus, 2013). In the case of Manchester United, one of its main strength is a wide base of fans and popularity. The company uses the loyalty from fans to market its different product portfolios for increased revenue. Still, the company has a strong financial strength. Hence, it’s able to finance its operations and satisfy all its stakeholders.
The company’s main weakness is its concentrated market making due to stringent rules of the European Football Clubs making it hard to diversify its product portfolio in other countries. However, the company has a great opportunity for increasing its market share since more people are getting attracted to football and associated products.
Being one of the best football clubs, the company uses the opportunity to strengthen its products and harness more fans through its uniform products. However, the company faces intense competition from other English clubs such as Manchester City that have an equal fan base making it hard to penetrate. To phase out the competition, the company maximizes its already popular name to increase its market share and to give out customized products (Manchester United, 2016).
d. Internal analysis strategic capabilities
Strategic capabilities consist of financial, human, and capital resources that an organization uses to formulate and design its strategies. To make a strategy effective, the different strategic capabilities must be integrated. Regarding resources, there are those that are basic and unique. The unique resources are the core competencies of an organization while the basic resources are those that must be present for a strategy to be implemented.
General workforce, finances, and infrastructure are the basic resources. Brand name, trademarked products, and expertise skills or differentiated product portfolios are some of the core competencies that a company takes advantage of in formulation of strategies. Manchester United’s core competencies are brand name and a wide fan base that makes it attract some of the best players as well as market its subsidiary products.
ManU’s business functions comprise of financing, purchasing and supplies, production, human resources, marketing and research and development. All these departments are integrated together to ensure that daily operational functions run smoothly (Mackenzie, 2015).
Manchester FC has a line of business venture it operates. In line with the retail and merchandise, the company targets young adults for its branded t-shirts and other merchandise. Most fans are young adults and form the highest market. The middle-income earners mostly attend the live matches and form the market segment for the match-day business venture.
2. Business strategy
The increase in product portfolio is one of the company’s business strategies. Differentiation by using its trademark and logo is one of the methods the company has been using to ensure the products reach to its target market, and the consumer’s value is maximized (Ovidijus, 2013). Fans go for their company’s products, and it is through differentiation that Manchester has been able to retain and increase its market share. Since wide fan base is one of the organizations strengths, it uses it to increase its sale in merchandise and tickets.
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3. Strategic choice
New product development is the best strategy the company can use to increase its market share and revenue (MSG, 2011). Since the company already has a wide and increasing market share, increasing in product portfolio is likely to get a high customer recognition thus increasing its revenue. The existing products have a high market share and sales revenue, and the company is assured of market penetration of a new product since the existing fans will be the ones to purchase the new product. A new product will lead to increased revenue.
f. Strategy evaluation
Product development is the most suitable since the existing products have already attained high market share and market awareness. Since the company has many fans who are loyal, the new product will have high acceptance rate amongst the different stakeholders as it is feasible and has a high potential for generating returns.
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g. Conclusion and recommendations
Manchester United faces social, environmental, political, legal, and economic issues in its strategy formulation and implementation. All these factors influence the outcome of strategy, and the company takes them into consideration before formulating and implementing a strategy.
8.1. The company has been maximizing its strengths effectively since it takes advantage of the wide fan base to increase its product portfolio for increased market share and revenues.
8.2. The main weakness that the company has when compared to its major rivals is a concentration in the European market which has limited fan base compared to other regions where its competitors exist. Financial problems is another weakness the company faces due to the imminent player transfers that cost the company a lot of finances.
8.3. The main threat faced by Manchester FC is competitors. Since the company is operating profitably and has a high market capitalization, it can be said that it is managing its threats effectively. The company increases its fan value by designing custom made products at low prices making the fans remain loyal.
8.4. Manchester’s vision is to be one of the best clubs that provides the best returns to its shareholders and sponsors. The increase in product portfolio is one of the strategies the company uses to increase revenue. When there is high revenue, the returns are high thus the vision of the company is not different from its strategy since strategies are formulated in line with the vision of the company.
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Manufacturing Process Simulation Model Using WITNESS Software
Introduction
Nowadays, simulation models which are designed based on varied simulation software have gained wide utilisation in the evaluation of different aspects of manufacturing systems. In this group project, the WITNESS software will be applied to simulate the packaging process of an automobile manufacturing assembly line in a production company that is cost-conscious and interested in introducing a new product (Ceric, 2014). Technically, line balancing through optimization of the manufacturing and packing processes is one of the components of improving production efficiency in manufacturing industries.
As a result, the concept of manufacturing process optimization itself is based on the fact that everyone as well as the machines is working together in a balance in a manner that the amount of work carried out by staff or machines with similar capacities is the same, and the variation is smoothed to ensure that no particular element of the production process overburden (Carrie, 2014). This is aimed at ensuring that waiting time for work is alleviated and therefore it is carried out in a well organized and single piece flow.
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The Description of the System that is going to be Modelled and the Problem(s)
Inadequate software experimentation irrespective of adequate modelling is usually among the leading causes of poor decisions in manufacturing companies and often gives detrimental results, especially when there is involvement of financial investment (Ballakur & Steudel, 2007). The group project is about a weighing and packaging process simulation model in a manufacturing company based on WITNESS software. The group project is regarding improvement of the performance of the packing area with the help of simulation model.
The automobile company produces both motor vehicles and respective motor body parts by implementing lean manufacturing system in their plant. The main objective of this simulation model based on WITNESS software is to strive to reduce congestion at the packaging area of an automobile manufacturing company’s assembly line, particularly by improving the efficiency and productivity of weighing and inspection as well as wrapping and cartoning processes through precise simulation.
For this project, our group modelled the functions or operations of the packaging area of Nissan Motor Manufacturing (UK) Limited, which was selected due to the challenges they were experiencing when the company was undertaking an aggressive expansion strategy not only in its Sunderland manufacturing plant, but also in other regions in the United Kingdom and across the world.
However, due to the limitations of the WITNESS simulation software as well as the short duration through which the project had to be completed, our group opted to settle for a section of the manufacturing process, that is, the packaging where various processes are carried out.
As a result, our group decided to focus on only some aspects of the packaging section, particularly the last stage of quality control which is the final inspection and weighing of various body parts as well as wrapping and packaging of the motor body parts in cartons. In particular, we modelled the packaging of bush press for its latest model of car known as Qashqai.
The reason why we chose this problem for the simulation model is attributable to the fact that, Nissan company was a good case of how many automobile manufacturing companies are faced my numerous challenges when it comes to addressing the challenge of space utilization and reduction of congestion not only in their packaging section, but in the entire manufacturing process as a whole even though the former is more imperative considering that, it is the last stage in the manufacturing process prior to the body parts being taken to the warehouse awaiting to be shipped overseas or transported for distribution (Lanner, 2013).
This choice was further attributed by the fact that, some data was available online in addition to the potential of making estimations that are not significantly different from the anticipated results of the actual manufacturing process. Thus, considerable data was collected concerning Nissan Motor Manufacturing Company Limited, particularly the manufacturing plant which is based in Sunderland.
This was further enhanced by making estimates that were not significantly different from the actual production process data. No particular visit was made to the actual manufacturing plant location, but quite a lot of time was spent discussing the various aspects of the manufacturing process data including the processes included in the packaging section, arrival profile of the finished body parts, shifts of employees working in the packaging section as well as the durations needed to each of the considered process for each body part.
Sometimes the packaging area may involve many activities, but in our project we specifically focused on the final inspection and weighing of the finished body parts particularly the bush press as well as the wrapping and cartoning of the bush press prior to being taken to the warehouse for storage awaiting dispatch to the market. We focused on bush press because of their peculiar nature which makes their demand extremely high in the market, especially at a time like this when Nissan Motor Manufacturing Limited was experiencing tremendous growth in its production capacity due to increased market demand.
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In an automobile manufacturing market which is hugely competitive, Nissan has to no option but making sure that it demonstrates superb value for money in its attempts towards securing contracts for new car models’ production (Lanner, 2013). This is attributable to the fact that these new contracts for the manufacturing of new car models can only be secured by companies that have the ability to provide the best option in manufacturing with regards to cost, delivery, and quality.
In particular, the Nissan manufacturing plant in our group project faces stiff competition not only from competitors in the market but also other Nissan plants located in UK as well as across the world. As a result, the Nissan manufacturing plant based in Sunderland is without any doubt in desperate need to make sure that there is optimization of its production processes, especially for the manufacturing of the latest Nissan’s Qashqai car model (Lanner, 2013).
This was to a significant extent motivated by the introduction of the suspension plant that was specifically installed for the manufacturing of the Qashqai model, and the company needed to succinctly understand and outline the role of this newly introduced automobile manufacturing technology (Lanner, 2013).
In addition, there was need to delve into details of the sources of congestion in the packaging section which was becoming a common phenomenon sometimes hindering smooth production flow due to lack of space for convenient and flexible manoeuvring of company employees during manufacturing processes as well as limiting storage space of finished bush press automobile body parts and delays in market delivery to meet the orders placed for finished parts.
There are also other aspects of the simulation scenario that have the potential to impact the throughput of the automobile company including number of employees, production durations, number of automobile parts that can be at a time, sources of raw materials, the market demand, technology employed in the manufacturing assembly line and packaging, size of the warehouse and many others (Fishwick, 2008).
Most of these aspects can not be easily altered without expensive changes have to be made to the company, which is mainly the reason why in this group project we are going to begin by optimizing the packaging section efficiency and performance, particularly the inspection and/or weighing as well as wrapping and cartoning processes. The WITNESS software simulation group project will be divided into five main parts.
These parts are particularly: the introduction, the role/importance of WITNESS simulation software in company manufacturing process, model build process and analysis of collected data, implementation of the simulation model as well as the improvement of the simulation model and conclusion.
The introduction part will provide basic and/or background information about simulation models in company manufacturing process and in particular emphasizing on WITNESS simulation software on which this project will be based. The purposes for which software based simulation models have been used in manufacturing will be discussed in this part.
In addition, the place of simulation in contemporary manufacturing processes will also be discussed together with the progressive use and progress made in computer simulation models to simulate various manufacturing systems and/or processes for reduction of costs and improved productivity. The essence of the wide usage of simulation in company manufacturing processes as a stylish, flexible and contemporary management tool will be highlighted.
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The second part will discuss the role of simulation in manufacturing process. An emphasis will be put on reviewing literature to provide evidence on the use of simulation in manufacturing process. In this part, focus will be on production aspect of the manufacturing process and how simulation modelling has been used to facilitate making of decisions and its imperativeness in solving production management problems.
The third part will present the simulation model building process with an emphasis on elucidating how the simulation model will be executed. This will be done simultaneously with collection of data and analysis of the results of the simulation model in order to identify the bottlenecks of the manufacturing process or production system as well as the underlying issues that cause the problems.
The fourth part will be concerned with the implementation of the developed simulation model based on WITNESS software in order to identify, verify and validate the simulation model results. Finally, the last part will discuss the modifications if necessary that will be made on the developed simulation model in order to improve the manufacturing process for increased total output (productivity) and maximization of inventory of products. Lastly, recommendations and a conclusion on the simulation project and the developed simulation model based on WITNESS software will be provided.
The Conceptual Model
The packaging section consists of six weighing and inspection machines {m = 1, 2, 3, 4, 5, 6} and each of the machines work at the same rate and similar in specifications as well as stop time intervals, even though the frequency of stoppages are randomly distributed between all the six machines. The stoppage interval of the six weighing and inspection machines is approximately a negative exponential distribution of 240 minutes and upon stoppage the repair time range between a minimum of 15 minutes and a maximum of 20 minutes.
Fifty applications (bush press automobile parts) arrive in every 30 minutes and are buffered into a queue awaiting to be inspected and weighed by the inspection and weighing machines prior to wrapping and eventually being put into cartons. This operation takes duration of between 2 and 10 minutes for each application (bush press automobile parts) meaning the process a uniform cycle time of between 2 and 10 minutes.
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From the inspection and weighing machines the applications (bush press automobile parts) are directed into another queue of the packaging or wrapping machines where they are wrapped before being put into cartons and then taken to the warehouse for storage awaiting dispatch to the market. There are two packaging or wrapping machines arranged in a conveyor format each with a capacity of 1000 applications (bush press automobile parts) meaning the total buffering capacity of the wrapping machines is 2000.
Subsequently, the wrapped applications (bush press automobile parts) are directed to the cartoning machines which package them into cartons. There are four cartoning machines {m = 1, 2, 3, 4} which operate effectively throughout unless during planned maintenance shutdown and during this period the production is temporarily stopped or a contingency plan is implemented in case there is a high demand. This operation takes duration of between 2 and 15 minutes for each application (bush press automobile parts) meaning the process a uniform cycle time of between 2 and 15 minutes. The packaging area operations are illustrated in the conceptual model shown below:
Figure 1: Conceptual Model
A combination of the conceptual model simulation modelling information with the shifts, sub-shifts as well as shifts and sub-shifts breaks the outcome of running the simulation model based on the specifies rules both the model outcome without element flow illustrations and the one with element flow illustrations are shown in Figure 2 and Figure 3 shown below respectively:
Figure 2: Final Model without Elements Flow
Figure 3: Final Model with Elements Flow
The Data Collection and Input Modelling Process
Data collection
According to Ballakur & Steudel (2007) data collection constitutes the most imperative part of the entire despite of it being a very daunting, frustrating as well as time consuming task mainly because it sets the stage for the simulation project as a whole. As a result, the time needed to develop the simulation model may significantly vary based on the extent of quality and quantifiable data that should be collected prior to beginning the actual simulation.
Banks and Carson (2004) argued that even when the validity of a simulation model structure has been confirmed, if collected data is inputted incorrectly collected, followed by inappropriate analysis, the resulting simulation output will not be a representation of the actual environment, and will provide misleading and possibly damaging information. In this group project, the data was not fully available and the collected data was supplemented by some tentative estimation to ensure significant variation was not witnessed between the actual production scenario and the simulation scenario.
In particular, the data was collected about Nissan’s packaging section processes specifically on the arrival profile, shifts and sub-shifts, activity cycle times, capacity of queues, as well as stoppages of the inspection and weighing machines for the bush press body parts from the assembling line.
Arrival Profile
Time
Length
Volume
1
8:00
30
50
2
8:30
30
50
3
9:00
30
50
4
9:30
30
50
5
10:00
30
50
6
10:30
30
50
7
11:00
30
50
8
11:30
30
50
9
12:00
30
50
10
12:30
30
50
11
1:00
30
50
12
1:30
30
50
13
2:00
30
50
14
2:30
30
50
15
3:00
30
50
16
3:30
30
50
17
4:00
30
50
18
4:30
30
50
19
5:00
30
50
20
5:30
30
50
Day shifts
Period Type
Working Period
Rest Time
Overtime
Subshift Name
Total
1
Subshift
480
960
0
Day subshift
1440
2
Subshift
480
960
0
Day subshift
1440
3
Subshift
480
960
0
Day subshift
1440
4
Subshift
480
960
0
Day subshift
1440
5
Subshift
480
960
0
Day subshift
1440
6
Subshift
240
1200
0
Day subshift
1440
7
Subshift
240
1200
0
Day subshift
1440
Total
2880
7200
0
10080
Breaks during Shifts
Period Type
Working Time
Rest Time
Overtime
Subshift Name
Total
1
Period
180
15
0
195
2
Period
105
60
0
165
3
Period
120
15
0
135
4
Period
75
870
0
945
Total
480
960
0
1440
Stoppages of the Final Inspection and Weighing Machines
Final Inspection and Weighing Machine Operation Stoppages
Busy Time
Negative exponential distribution of 240 minutes
Repair Time
A uniform distribution of 15 minutes minimum and 20 minutes maximum
Simulation rules were also considered whereby all input rules were set to be push and the output rules were set as pull i.e. the default rules in the simulation model settings. As a result, the simulation rules were used to connect the flow of elements through the simulation model from start to finish.
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Financial Position Reporting
Balance sheet
The balance sheet captures the current financial position of the NGO. Net assets should balance with the liabilities and equity since the each of the asset is funded by the resources contributed by members and other sponsors. The statement should provide a snapshot of the assets, liabilities, and net assets as the specified date. Gabel’s statement of financial position gives detailed information about the financial position of the company as indicated by the figures. It has the assets section, the liabilities section, and the equity section.
Each fixed asset should have its book value minus the depreciation to get the current net value. By giving the value of the asset in a different line with its total depreciation value makes the balance sheet untidy and crowded making it hard to analyze (Elizabeth, 2010). The net of the fixed asset is the one used to analyze the current financial position of the organization. It is therefore important to indicate the net of the fixed assets to avoid confusion. Deductions and accruals should just indicate the total amounts instead of individual amounts since the receipts will be attached to the statement to avoid congesting the statement.
Since the company is a non-profit, the balance sheet should only indicate the assets and the liabilities. The assets and liabilities are the values used to indicate the financial position of the organization and not the equity hence the net income and equity are not inclusive.
Also, it is important for the accountants to indicate the previous year’s balance sheet values for comparison purposes. The current values should be shown against the previous year’s or, at least, the past three years to make the analysis of the statement viable. When the values of two periods are shown, it makes it easy for analysts to make comparisons and understand the changes that may have taken place to get the current balance sheet values.
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Income Statement
The statement is used to give information regarding the operating activities of the organization from one date to another. It gives information pertaining the revenues and expenses during a particular time, and it’s useful to forecast future activities. For NGOs, activities are measured as received and used contributions. The statement is divided between temporary, restricted, unrestricted, and permanently restricted activities.
Recorded revenues should be classified into one of the four activities based on the donor’s intent. Expenses should be divided into the program, administrative, and fundraising expenses. Revenues are either in the form of activities, membership dues, program revenues, special event and investment income. By categorizing revenues and expenses in the different classification, it provides for better analysis as well as being in line with the global accounting standards.
Gabel’s statement does not give columns for the different activities under income and expenses. By generalizing the revenues and expenses and indicating their categories randomly makes it hard for analysis and is not in line with the required reporting standards. It is also important that the statement also records prior year values for comparison purposes. Categorizing each activity and expense into the section they fall helps stakeholders identify gaps in the company for improvement.
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Statement of cash flows
Statement of cash flow is used to record the cash inflows and cash outflows over a specified period. The statement is divided into three sections: cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities (Ron, 2013). The total amount from the three sections gives an explanation of how the cash flow from the beginning of the period was converted to the balance at the end of the operating period.
Gabel’s statement should show the net cash for each of the sections and sum up the amounts resulting from same activity instead of detailing each activity. The statement is supposed to provide an overview of the cash flows to make it easy for reporting.
Accrual accounting
NGOs have a stringent requirement of using the accrual method of accounting as per the Generally Accepted Accounting Standards (Elizabeth, 2010). The accrual method records revenues when earned and expenses when they have been incurred. By using the accrual method, an organization can indicate its current financial position in a pronounced manner than the cash accounting method.
As an NGO, it is possible to get donors that offer to donate at a later period and when the amount is recorded, it gives the organization a stronger financial position. If Gabel uses the accrual methods, it can recognize pledges of donations and income when they have been made and record cash when it has been received making the income higher than if it used the cash accounting. Cash accounting only considers income when cash has been paid and expense when the amount has been disbursed making it hard to present the current financial position of the organization.
As long as a transaction is to take place and all the necessary conditions have been met then it should be recorded in the financial statements. With addition of statement of activities to the three financial statements, the company should apply accrual accounting to all its recordings not only to meet the required regulations but also to enable stakeholders have a correct view of the current financial position of the firm.
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Recommendations
1. Gabel’s Company should increase its campaigns to reach to more people hence increase its chances of donations. Though the company has net profit, it has a lot of activities it requires to attend to and perform using its wide assets base. Through fundraising campaigns, more donors will be attracted to pay and if they are followed up, they may end up increasing the contributions amount hence increasing the net realized income.
2. Another method the company can use is to increase member’s contributions and subscription fees as well as holding part of dividends to investment in rentals. The amount contributed by members can be added up at a small percentage with respect to individual member’s contribution and set of activity. If each member’s contributions is increased by a small margin, the total amount will subsequently increase helping to cover up for the administrative and other expenses to have a high income at the end of the period.
3. The company should also dispose of some of its unused assets before they lose their value. The amount generated can then be used to invest in some of its productive investment activities. There is a lot of available assets that may be disposed of to increase the net income. Some of the depreciating assets should be sold and a portion of the land rented out or even sold to raise extra income for the company to facilitate its daily operations.
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Delirium Diagnosis in Geriatric Patient
Case study 1
Delirium, dementia and depression are serious health complication common among geriatric population. The clinical manifestation of these healthcare complications is mainly impaired cognitive function, which makes it difficult to differentiate. This is usually a challenge because most of geriatric patients often present with multiple medical comorbidities which contribute to the affective and cognitive changes. Advanced nurse practitioners are expected to understand the key differences between these diseases as it is the first step to effective treatment (Holt, Young & Heseltine, 2013).
In this case study, the list of differential diagnosis would include dementia, depression and delirium. However, the fact that the patient is very confused, agitated, mental status fluctuates and rambles in an incoherent and disorganized manner, then, the most likely definitive diagnosis is the patient is derelict. Delirium is differentiated from the other two mental disorders by a) onset, b) Attention, c) and d) fluctuation of the symptoms.
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The onset of delirium in geriatric population occurs rapidly as compared to other two diseases where symptoms onset is mainly gradual and worsens progressively. In patients that are derelict, the patient is unable to remain focused. In early stages of dementia and depression, the patient is generally able to remain alert. In delirium patients, the signs and symptoms fluctuation is predominant throughout the day (Flaherty & Resnick, 2011).
To further confirm the diagnosis, the cognitive assessment should be done using comprehensive geriatric assessment tool. The physical exams, neurological exam, blood test and urine test should be conducted to check indicators of underlying health complications. I would not request from brain imaging test unless the aforementioned diagnostic tests fails to confirm delirium or underlying health complications (Featherstone, Hopton & Siddiqi, 2010).
The first step in treatment of the patient is to address underlying triggers. This includes terminating medication identified as underlying cause. With regard to pharmacological management of delirium, the patient should be give antipsychotics of choice, administered at lowest dosage.
Therefore, the patient should be administered Haloperidol and benzodiazepines. The healthcare provider must ensure that the patient gets an individualized care plan to treat and prevent further complications. This includes devising environmental interventions to address the disorientation and cognitive impairments (Holroyd-Leduc & Reddy, 2012).
Flaherty, E., & Resnick, B. (2011). GNRS. New York, NY: American Geriatrics Society.
Holroyd-Leduc, J., & Reddy, M. (2012). Evidence-based geriatric medicine. Chichester, West Sussex, UK: Blackwell Pub.
Holt, R., Young, J., & Heseltine, D. (2013). Effectiveness of a multi-component intervention to reduce delirium incidence in elderly care wards. Age and Ageing, 42(6), 721-727. http://dx.doi.org/10.1093/ageing/aft120
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