With businesses ever more dependent on streamlined and efficient processes for success, the role of forecasting has come to the fore. The first step in developing a forecasting system is Problem Definition. This is the most important step for it sets the agenda for the forecasting system. The scope, range of utility, accessibility and function of the forecasting system is outlined herein. Following this is Information Gathering, whereby the sources of data collection are identified and statistical tools are devised to analyze the data. Rich historical and archival data add credibility and soundness to the eventual forecasts. The next step is making a Preliminary Analysis of the forecasting methods and techniques. This involves experimentation and verification. The next step is Choosing Models, whereby complex mathematical concepts like regressions, exponents and neural networks are integrated into the forecasting system. The final is Evaluating and Fine Tuning the system . . . Read MoreContinue Reading
- In your opinion, is Rawlings exploiting its Costa Rican employees? Explain your answer.
In my opinion, I don’t think Rawlings’ operations in Costa Rica are exploitative. The very nature of capitalist enterprise is such that cost efficiency is a major driver of business. To criticize Rawlings for doing what it is legally mandated to do (namely, to seek profits for is shareholders) is quite unfair. Moreover, critics are not appreciating how Rawlings has created jobs in the Costa Rican economy. Companies such as Rawlings have helped consolidate Costa Rican economy. It is in recognition of this fact that the Costa Rican government has offered special economic zone status to Rawlings and other MNC manufacturing units.
Even when one looks at wages and employee benefits, Rawlings has done nothing illegal. The company has adhered to minimum wage standards of Costa Rica. Further it complies by paid-leave and medical insurance . . . Read MoreContinue Reading
- Should the headquarters of U.S.-based multinationals promote diversity initiatives in their worldwide subsidiaries? If so, what’s the best way to accomplish this?
There is nothing wrong in U.S.-based headquarters taking the initiative for diversity promotion across other locations in the globe. The thoughts and measures of Brody and Shoemate are instructive, for they provide a framework that all MNCs could follow. Since American business culture and social values are somewhat different to that in the rest of the world, the HR Manager taking decisions from U.S. headquarters will have to be culturally sensitive. The HR Manager will also be cognizant of the fact that the definition of diversity is not constant across locations. Moreover, the HR Manager will have to heed to what configurations of diversity ideally suit local teams. Actually, Bestfoods’ diversity program is a good starting point for any company trying to achieve similar . . . Read MoreContinue Reading
(In order to limit the negative aspects, should the government regulate it, or is this responsibility more with others (e.g. families, media, schools, etc).)
Advertising targeted against kids is a concept that invokes ethical issues. The major criticism against this practice is that it abuses the vulnerability of children for commercial gain. The ‘kid market’ as it is called is a multi-billion dollar industry today. As capitalism becomes entrenched as the uncontested economic model, all aspects of life are being commoditized and commercialized. Children are taught from a very young age that in order to be happy one has to consume products and services. Even self-worth is tied into the drive for consumerism, leading children to develop the belief that they are worth what they possess. Moreover, “whilst this child-targeted marketing used to concentrate on sweets and toys, it now includes clothes, shoes, a range of fast foods, sports . . . Read MoreContinue Reading
Decision making is a complex process that involves giving consideration to numerous factors and perspectives. If decision making as an individual action is difficult enough, it is all the more complicated when performed by a group. In our group, the four members Aleksandar Burneski (110064964), Rocco Guiducci (110065658), Kuir Alaak (100044490) and I Mossab Aljamdi (110079132) have different personality types and character traits. Hence we bring a wide range of inputs to the process of decision making. Two features of our deliberations are conflict and conciliation. Conflict is inevitable in any group interaction, but we make sure that it is constructive and instructive. What we strive as a group is to talk, deliberate, analyse and eventually concur on our decisions. The objective of our project was to compile a report on End User Development (EUD), which is a buzzing concept in the world of Information Technology. Numerous decisions were taken at . . . Read MoreContinue Reading
The prevailing healthcare system in the United States has drawn many criticisms – from healthcare professionals and citizens alike. The American system fares badly compared to nationalized public health systems of Western Europe. Even in terms of overall costs, the American model is more expensive, which is significantly inflated by bureaucracy costs. All comparative evidence points in one direction – that the country would benefit through an overhaul of the healthcare system. Single payer and universal insurance coverage are the cornerstones of the optimal system. Posing hurdles for this noble objective are vested private interests in the form of private insurance companies, ideologically entrenched politicians and to a lesser extent, healthcare providers.
Why is the article relevant to our course discussions on the U.S. Healthcare system?
The issue of healthcare is a pressing social problem in the United States. . . . Read MoreContinue Reading
News Corporation, under the leadership of Rupert Murdoch, has unparalleled power and reach in the news media industry. The Murdoch Empire spans several continents, with significant footholds in Australia, United States and the United Kingdom. Founded and headquartered in Australia, the company now boasts of being the number one newspaper publisher in the world, with a cumulative daily readership of 14 million in these three countries alone. Murdoch has a near monopoly in the media space in Australia, owning two-thirds of all newspaper circulation in the country. Across the Tasman Sea, in New Zealand, he owns nearly half. Further, he is the owner of two fifths of the Australian Associated Press. (Knowlton & Parsons, 1995, p. 200) These holdings are notwithstanding his considerable market share in Britain and the United States. These statistics bear testimony to the Murdoch’s media monopoly. Between the lines one can read the dangers . . . Read MoreContinue Reading
Steve Jobs is one of the prominent inventors and pioneers in the field of information technology. Some of his creations such as the iPhone speak highly of his vision in recognizing technologies of the future. By introducing products such as the iPhone, he took Apple Computers to new heights through its exceptional performance and features.
In order to grow any business innovation is a key element. Without innovation the business would stagnate and will soon be consumed by more competitive firms. At the beginning of Apple Computers’ corporate life, the Mac computers were a great product innovation. In more recent years, it is the iPhone. The quality and popularity of iPhone is such that it has even overtaken companies like Blackberry. At the beginning of the IT revolution in the 1990s companies like Microsoft were taking huge strides in Graphic User Interface . . . Read MoreContinue Reading
- Develop a typical “community policing” model utilized by local/American policing tactics. How would you deploy road patrol personnel to best promote the model of community policing? How would you instruct your officers to interact with the community?
The community policing model had found success in the United States because of its balancing of authority with community. A typical model would comprise of a squad of patrollers assigned to a locality. They would come under the leadership of the delegated sheriff for that locality. The key feature of the community policing model in the United States is ‘participation’. Rather than acting like authorities in power, the patrollers strike camaraderie with local residents. They develop a first-name calling rapport with the locals. The local residents serve as useful informants and witnesses for suspect activity. At the same time the patrolling officers do also monitor the regulars he comes . . . Read MoreContinue Reading
What did I learn from the novel and the PBS videos?
Both the novel and the documentary film has been full of relevant information for me. I learnt different things from the two different media. The novel The Eleventh Hour is a unique mélange of fact and fiction. That it presents details pertaining to the American healthcare system in the form of an engaging story made it easy for me to focus and keep track. As the drama of the story unfolded I was able to pick up facts about the healthcare system that were erstwhile unknown to me.
Sick Around the World, on the other hand, offered me a comparative perspective on several leading healthcare systems. I was astounded that countries which are less economically powerful than the United States offer a better healthcare deal to their citizens. The five countries studied by the PBS documentary crew – Germany, United Kingdom, Japan, Taiwan and Switzerland – all have cheaper average per . . . Read MoreContinue Reading