Total Quality Management Research Paper Example | Topics and Well Written Essays - 2000 words

Total Quality Management - Research Paper Example I. INTRODUCTION History OF TQM Basically, TQM is widely considered to be a management philosophy which revolves around improving the quality of products and myriad processes running within an organization prior to launching a product in the market. The term TQM refers to managing and maximizing quality at every level so that employee engagement could be raised, a wide collection of talented ideas could be formed, costs could be reduced by running processes based on short time periods, and top-quality products could be introduced in the market which would better adapt to the customers’ needs. The concept of TQM operates on the principle that everyone is involved in preparing a certain product and not any product can be considered the result of many efforts made by the top management. It operates on the principle that everyone, from grass-root level to authoritative level, working for an organization should be involved in the product-preparing process, so that everyone could be credited with success and glory and no big feat could be called a one-man’s achievement. ... ues within an organization and did not lay any stress on improving their quality in contrast to the philosophy of TQM, which lays stress on improving and managing the quality of every single process and relation within an organization. So, it remains a reality that TQM offers a much wider approach for looking at things in order to work upon their quality so that the product quality could be improved consequently. According to (Business Performance Improvement Resource 2011), though the roots of TQM can be traced back to early 1920s when the business focus was shifted more towards product quality control, it was in Japan during 1940s when this huge business concept was nurtured and polished in the more vivacious and realistic way. It was then that the focus shifted from product quality control alone and widened tremendously and ultimately, such a business management philosophy was introduced in the form of TQM which could be applied to every level from employee engagement and committe d management to quality products and customer satisfaction. Some critics also suggest that the roots of TQM are found embedded in the statistical theory which was applied to the management of product quality and focused on identifying the quality problems and relied mainly on quality control professionals. It was when the Japanese products began to be perceived as cheap imitations that the industrial leaders in Japan launched a program to produce high-quality products and later titles this program as TQM which ultimately became a whole philosophical domain. In the later years, the concept of quality control and management widened even more and the idea of overall quality control became the front theme of Japanese movement. The idea of the quality never stops at the management level or at

Teamwork in CommuniCo Essay Example | Topics and Well Written Essays - 3000 words

Teamwork in CommuniCo - Essay Example The choice of the use of these studies is due to the  diversity  in dealing with  team  components. Katzenbach and Smiths (1999, p. 13) study mainly deals with the establishment of the members as one single unit, while Belbins study mainly deals with dealing on improving the performance of the individuals within the team. Individuals  develop  on their own towards the makeup of the whole team’s improvement in performance and achievement of goals. The two studies both lead to the effective improvement in performance within the team. I  aim  at proving them through a combination of the two techniques. This would lead to the best team  improvement  method  both in performance and achievement. This would create a  state  where the  technique  is improving the state of the individuals within the team each as a, separate,  independent person. This brings out their abilities while, at the same time, it brings about a  way  in which the  team  i mproves as a whole. This is in terms of their strengths and abilities as a team working together towards that goal. Katzenbach and Smith (1999: p. 32) define team work as the performance of an action by a team towards the achievement of a common purpose. A team comprises of more than one person of whom each ideally holds different responsibilities in the performance of the action. ... The use of  team  work has various advantages to firms such as, the quick completion of tasks or problems. Here, challenges get exposed to a wide  variety  of knowledge. Morale and ownership among the different individuals in different tasks boosts through participative decision making and, as a result,  effective  results got from this. According to Belbin a  team  refers to a group of individuals, in which each has a role understood by other partners. The different individuals in a team  locate  various positions within the team and perform exceptionally effectively in those that are  natural  or that are common (Herbert, 1994: p. 13). He  further  defined as the  term  team  role  as the  tendency  to  contribute, interrelate and  treat  with others in a way. He mentions nine such  team  roles that underlie team success. Belbins team roles implies in the identification of different people’s behavioral strengths and weaknesse s in the performance of  certain  tasks in the achievement of  certain  goals. Such identification of these strengths and weaknesses is useful in the aid recruitment process, mutual trust and understanding, to build  productive  working relationships and the selection and development of high performing teams. It is these nine roles that Belbin establishes as the best modes of improving  team  work within firms and organizations. This ensures the achievement of set goals in the best  mode  possible. According to Katzenbach and Smith (1999)  study  on teamwork focuses on various aspects such as the sense of purpose within the team members.  There should be a deeper sense of purpose for the achievement of the desired results. This implies that all members feel individual responsible and

Supply And Demand And Their Determinants Economics Essay

Supply And Demand And Their Determinants Economics Essay Buyers are called demanders, and Sellers and called suppliers. In this chapter we are particularly interested in using a large number of independent buyers and sellers. The Product Market involves goods and services, and the Factor Market involves the factors of production (land, labor, capital, entrepreneurial ability). DEMAND IS A SCHEDULE that shows the amounts of a product consumers are willing and/or able to buy at each price using a series of possible prices during a specific time frame. The schedule shows how many units buyers (demanders) are willing and able to buy at the possible prices. The market price depends on the intersection of demand and supply. The (General) Law of Demand uses the assumption of ceteris paribus (other things being equal). This implies that as price increases, the corresponding quantity demanded falls. In other words, there is an inverse relationship between price and quantity demanded. The ceteris paribus assumption refers to constant prices of related goods, income, tastes, and all other things besides price. We will briefly touch upon the Marginal Rate of Substitution (MRS). This concept is related to the Income Effect and the Substitution Effect. The Income Effect is when a lower price increases the purchasing power of money income enabling one to buy more at a lower price or less at a higher price, when incomes are unchanged. The Substitution Effect is when lower prices give incentive to substitute the lower priced good for now relatively higher priced goods. The Marginal Rate of Substitution is the rate, at the margin, at which a consumer is prepared to substitute one good or service for another and remain equally satisfied (have the same total Utility); and is equal to the slope of an indifference curve (Managerial Economics). The demand curve shows an inverse relationship between price and quantity demanded. It has a downward slope indicating a lower quantity at a higher price; or a higher quantity at a lower price. Quantity is on the horizontal axis and price is on the vertical axis. Market demand is the horizontal sum of individual demands. The transition from an individual demand schedule to a market demand schedule is done by summing individual quantities at various price levels. The market curve is the horizontal sum of individual curves. What other things affect demand (other that price)? Note that changes in the determinants of demand shift the location of the demand curve to the right or left. The determinants of demand are referred to as demand shifters. A change in a determinant of demand will change the demand schedule. A shift in the location of the demand curve is called a change in demand. Determinants of Demand 1. Tastes favorable changes increase demand, unfavorable changes decrease demand. 2. Population More buyers increase demand, fewer buyers decrease demand. 3. Income more income increases demand, less income decreases demand for normal goods. (An inferior good is when demand varies inversely with income). 4. Prices of related goods Substitute goods (can be used in place of each other). This implies that the price of the substitute and demand for the other good are directly related, e.g., if the price of Coors beer rises then the demand for Budweiser will also rise. Complementary goods (can be used together, such as tennis balls and rackets, or college tuition and books). When goods are complements, there is an inverse relationship between price of one good and the demand for the other (e.g., if tuition rises, then students take fewer courses such that book demand will be lower). 5. Expectations consumers views about the future prices, product availability, and income can shift the demand curve. A change in the quantity demanded denotes movement from one point to another on a fixed demand curve. That is, it denotes movement from one price-quantity relationship to another. Usually, the cause of a change in quantity demanded is a change in the price of a product under consideration. SUPPLY Quantity Supplied and its relationship to price which is normally referred to as Supply are developed into a SCHEDULE that shows amounts of a product a supplier is willing and able to produce and sell at each specific price in a series of possible prices during a specific time frame. The supply schedule shows those quantities that can be offered at various prices or answers the question, At what price will be required to induce various quantities to be offered? The general Law of Supply means that producers will produce and sell more of their product at a high price than at a low price. There is a direct relationship between price and quantity supplied. Given product costs, a higher price implies greater profits and thus an incentive to increase the quantity supplied. A change in any of the determinants of supply can cause a change in supply, and a shift in the supply curve. These determinants of supply are called supply shifters. An increase in supply involves a rightward shift, where a decrease in supply involves a leftward shift. Note also that any movement along a fixed supply curve is referred to as a Change in Quantity Supplied. Determinants of Supply 1. Resource Prices, i.e., the prices of the Factors of Production a rise in resource prices (of materials, labor, or other inputs) will cause a decrease in supply or a leftward shift in the supply curve; a decrease in resource prices will cause an increase in supply or a rightward shift in the supply curve. 2. Technology a technological improvement means more efficient production and lower costs so an increase in supply or a rightward shift in the supply curve. 3. Taxes Subsidies a business tax is treated as a cost so decreases supply; a subsidy lowers cost of production so increases supply. 4. Prices of other related goods If the price of a substitute goods rise, producers can shift production towards the higher priced good causing a decrease in supply of the original good. If a raw material has a by-product, an increase in supply of one good implies a corresponding increase in supply of the by-product. 5. Expectations Expectations about the future price of a product can cause producers to increase or decrease current supply. Inventories become important, e.g., the supply of gasoline as compared with heating oil. Number of Suppliers Generally the larger the number of suppliers the greater the supply. Weather conditions- Generally favorable conditions increase supply and unfavorable conditions decrease supply. STATIC ANALYSIS Static analysis is a sub-field of positive economic analysis that answers the questions about states of the economies, not about the process of change. One way of looking at economic phenomena is to examine the state of the economy under consideration by comparing one state with another. This is termed comparative statics. By the state of a given economy one would appear to mean its average performance over a fairly long period, short-run fluctuations being canceled out. A static model exhibits an unchanging economy. The static equilibrium model is a methodology that attempts to balance economic forces. In a static economy (in which wants are unchanging and resources are unchanging), the state of equilibrium is where all the individuals or business firms in it are choosing those quantities that they prefer to produce or to consume. Labor and capital (as well as other factors of production) are taken to be constant in a static economy. In other words, static theory can be treated as if it were in equilibrium, i.e., the quantities produced and consumed will be near their equilibrium quantities. By treating economic phenomena in this way, we can gain insights into the structure of the economy. Static equilibrium shows equilibrium at a point in time.

Negative Effects of False Media Images :: Argumentative Persuasive Topics

The Negative Effects of False Media Images      Ã‚  Ã‚  Ã‚  Ã‚   Since the birth of communication, media has been used to convey information to those willing to absorb it. Beginning with publications and simple spoken words, and soaring to new heights in the twentieth century with radio, television, and the internet, media have been made accessible to people in every aspect of their daily lives. With such a strong hold on modern society, mass media have been able to shape popular culture and often influence public opinion. However, when abused, the power of media can harm the general population. Biased media tend to make people strive to be someone else's idea of perfect while subconsciously ignoring their own goals. Stereotypes formed by the media that include thin, tanned women, and wealthy, muscular men have led to a decline in self-acceptance. The majority of media today often present the perfect body to the public, hoping that consumers will strive to achieve fitness using a certain product or idea. While this form of adv ertising may somewhat increase a product's market share, many people suffer from inner conflicts as a result of failure to achieve the body of a top athlete or fashion model. Along with emotional conflicts, those influenced by the media have encountered physical problems, including bulimia, anorexia, and the employment of harmful dietary plans. Unless reality is discerned from what is presented in certain media, some people will continue to suffer. Consumers could find the truth more easily if media offered products advertised by normal people without all the extra glamor. In addition to this, if the public could view advertising only as something to get one's attention and not a portrayal of how one should look, there would be fewer problems. Until either is accomplished, the negative effects will be felt by the vulnerable, and companies will continue to make their money. Those consumers given a false impression about a product through various forms of media are the ones who suffer most from our society's portrayal of the perfect body. After being influenced by a television commercial or a magazine pictorial, certain people in this world will purchase an item hoping that the same success shown in the medium will be had by them as well. The truth of the matter is that this hardly ever happens. Every day, ugly people wear sensual cologne, and slow runners wear Carl Lewis track shoes.

Botany-Passive Transport Answers Essay

Substances necessary for normal growth and development of plants must continually be transported into cells while metabolic wastes must be eliminated so that they won’t accumulate inside the cells. For instance, water as well as mineral salts from the soil solution enter root cells while carbon dioxide and oxygen through tiny pores known as stomata in leaves and lenticels in stem. Excess oxygen not utilized during cell respiration as well as oxygen produced during photosynthesis is released to the atmosphere. In most cases, movement of these substances is along a concentration gradient, that is, from regions of greater concentration to regions of less concentration. Such type of transport is known as passive transport. Diffusion is a type of transport which is concerned with the movement of solute particles. Aside from concentration gradient, factors affecting the rate of diffusion include the temperature, size of diffusing molecules and presence of other molecules aside from the diffusing one. Osmosis, on the other hand, is another type of passive transport, which is involved in the movement of solvent (e.g. water) through a semi-permeable membrane. In osmosis, the presence of a differentially permeable membrane as well as differences in the concentration of the medium and the intracellular substance (i.e. cell sap) are factors to consider in determining the direction of water flow. (madel, dito gawa k ng visuals na puede,.. kung aong maisip mo di ko nga alam kung ano puede ndin ilgay †¦. Ano kaya gagamitin ntin? Naka-acetate oh sa manila paper kaw n bhala..;) Now the walls of these cells are made of a stuff a bit like a really fine netting that will let water through but not salt (a partially permiable membrane). Now water and salt prefer being mixed together than seperated, and water will move through the cell wall towards whichever side is the saltiest, this is called osmosis. This means that because outside is saltier the water leaves the cells, so the cells empty, and like a half full bag of water, go all floppy so the whole lettuce leaf goes floppy Now if you put the leaf in fresh water there are more salts in the leaf than in the water, so water will move back into the cells making them blow up like balloons again and become all strong and rigid. So if you have some old limp Lettuce soaking it in water for a while for a while will make it go crisp again. -The leaf in the salt water would be dehydrated, as its internal osmotic pressure would make water from the leaf seep through the cellular membranes. -it’s osmosis. the cells in the leaf are permeable to water but not salt,so if you immerse the leaf in salt water the cell will absorb water trying to balance the osmotic pressure .if you put the leaf in fresh water the cells will dump water,the salt water will cause the cells to absorb too much water and they will burst,the fresh water leaf will dehydrate and wrinkle,i think i got it right but don’t quote me. -Your talking about tonicity, the salt solution is hypertonic and would pull fluid from the plasmodesmata in the plant cells†¦the plain water being relatively isotonic would have little loss of fluid depending on where you live in the country and if you used tap water or bottled. Its the same concept of cellular dehydration and water toxicity in human cells.

Initial Public Offering Essay

Introduction To get a small business to be successful increase must occur. Increase in a company sometimes happens either by funding through debt or equity. IPO’s can be quite useful in the strong growth of a company and are extremely complicated involving many crucial role players. We shall additionally insure the dangers involved with creating an IPO and how safety regulations offer with. Additionally an problem which will increased variable to the IPO of a worldwide business is going to function as the problem of foreign currency exchange rates. These rates may also be mentioned and how they could be coped with. Role of Investment Banker and Underwriter The part of the investment banker and underwriter demands the 2 to work and perform as a team for the business they’re representing and also the traders they’re encouraging to put money into the first stock offering of a brand new public company. An Investment Banker is a tactical adviser to the managing of a business on a wide range of fiscal issues. As a way to offer the proper guidance to some business it really is critical the investment banker has a comprehensive knowledge of the tactical initiatives and directives of the corporation. The investment banker functions closely with sales along with the underwriters in this regard. Moreover, the investment banker is endeavor with making certain all legal, bookkeeping and regulatory files are ready and filed so. The Underwriter accounts for the sales of stock a company gives in its initial public offering (IPO). As suggested, the underwriter works closely with all the investment banker along with the business in creating the cost  of the primary stock offered. The crucial is the evaluation of the inventory to be certain it is just not exceptionally over or under priced to be able to market successful to any or all kinds of investors. For their providers, the underwriters are compensated a charge for marketing the inventory and so are incented to be sure there are purchasers for the accessible shares. Those shares more than these sold are bought by the investment company. Originating house and syndicate In the IPO to get a international business, the business that handles the underwriting is known as the originating residence (Mayo, 2012). These businesses have bought the securities from an organization that is attempting to improve capital and after that searches to offer the lists to the public. The entire process of selling these securities isn’t always managed by one business. Together, the brokerage companies underwrite the firm’s offerings and offer them to the public. The edges of numerous businesses joining together to fingers the sale of a organizations offering is more accessibility to possible buyers also in addition it reduces the quantity of securities each business must sell. The dispersing of the selling procedure reduces the chance for every business involved with the method. Pricing the offering When establishing costs for securities, there are various variables which affect the purchase price. Prior to listing a certain cost, underwriters should conduct numerous study of info through the enterprise to learn exactly what the greatest for the business. There are frequently times when costs may be at an wrong sum which may possess an adverse effect on exactly what the business was wanting to be successful. When a cost is a lot higher, it may create a business possess a monetary weight. In circumstances like this, there are a few alternatives in marketing the securities. â€Å"The expense bankers got two alternatives: (1) to keep the offer price and also to hold the securities in stock till they’re sold, or (2) to allow the marketplace find a lesser price level which will get investors to buy the securities.† In addition, in the event the securities can be purchased to get a lesser cost compared to the business could overlook the chance to reach any profits. Risks in the public offering As a way to create a public offering in order to get a business in order to get the required resources to be able to enlarge numerous important variables come into play with securities regulations and the way you need to work within these regulations. In the event you should happen to make an unregistered offering because there is nothing demonstrating them to what they were getting in to plus they may be purchasing soil in the air current, now filing with all the Securities and Exchange Commission makes folks whose cash you seek sense a little more relaxed and they’re more at prepared to spend money on the community providing. We’d also need to determine just how much capital we were searching to lift as we need to enroll that as well revealing the would be investor simply how much cash we were seeking in the 12-month interval, the guidelines we adopted would restrict the sum we’re able to receive and indicate to traders what we were searching for. In the event the principles weren’t in location together with the SEC firms would venture out and oversell alternatives in their own public offerings and folks could be stuck with only luck of the draw on what was going on using their investing. The rules are made to indicate to potential investors precisely what the firm is attempting to do and be able to provide the investor the very best opportunity at producing a profit. Foreign exchange risks The money rate for global funds transforms daily. In case the rate of exchange should happen to choose a steep fall throughout the IPO procedure, subsequently the level of funds the business is expecting to increase might not be satisfied. This situation may likewise alter the promotion efforts of the broker to the market securities to the public. In case the exchange-rate becomes too large to buy the securities, traders might be taken back from the added cost linked to the rates of exchange for the correct money. Conversely, rates of exchange which are radically lower may entice investors to the IPO due to the sensed deal linked to the purchase of the organization’s securities. To battle this kind of predicament in explosive exchange rates, setting an IPO in nation with like money rates as the corporation’s home land or running the raising of money in states using a  steady history of rates of exchange. Conclusion There are lots of advantages of forming an IPO or going community. Forming an IPO can assist a small business raise big levels of money and open more chances for increase in the company. To ensure an IPO works along with the first sales of the company’s shares is large, the crucial players for example the underwriters as well as the originating house should be included of experienced investors. Understanding as much as you can regarding the foreign currency exchange rates in the nations where the first shares will probably be sold to the general public is crucial to get a small business. Satisfactorily supervising and managing all those regions may help mitigate a big part of danger related to an IPO which will in turn, ensure the IPO is profitable creating high discuss costs and sales. Reference Mayo, H. B. (2012). Basic Finance. An Introduction to Financial Institutions, Investments, and Management (10th ed.). Boston, MA: Cengage Learning. http://econintersect.com/b2evolution/blog1.php/2014/09/29/educating-investors-about-investing-in-unregistered-securities-offerings-under-regulation-d-of-the-securities-act