Competition and Market Analysis for Red Bull

Competition and Market Analysis for Red Bull This paper investigates the competition analysis of Red Bull energy drink in the market and deciding about its competitive advantage if there is any. Some information about the energy drink market in general is presented. This is followed by product, company background and history is presented. Then we analyzed Red Bulls brand positioning and direct competitors. Afterward, analyze and classify the features of Red Bull through macro and micro factors to determine the strength of competition. This followed by looking at Red Bulls marketing mix. We will identify the problems and opportunities of Red Bull. For that part we are going to search for data about market segments and market share of Red Bull and its competitors. To support all this we are going to make a local market quantitative survey in the city of Abu Dhabi using a questionnaire targeting youth aged 18-34. The Market When looking into Energy drinks market, we can notice a doubling increase since they were first introduced into the United States and Europe. The current U.S. domestic market may be around $4 billion and is expected to reach an estimated US $15 billion by 2011. The reasons for the increasing demand for energy drinks are attributed to consumers concerns about time stress to keep balance between work-life and private life. Consequently the market is bombarded with many new energy drinks, with strange names and claims of a higher energy increase compared to the prior brands to find their way in the market. There are, however, a few major energy drinks that control most of the market and do not have too much amounts of caffeine. In addition to caffeine, a range of other energetic ingredients as taurin, Guarana, and B vitamins are added into energy drinks to make them more effective. New probable developments are geared toward increasing the health functionality of energy drinks which will increase market approval due to a growing society obsessed by health. The Energy drink market is not only limited to products or brands competing with each other but it also includes the whole non alcoholic drink market. Many outside factors have influenced the demand for this market such as the increasing attractiveness of health lifestyles and sports club membership. -Company and Product Review Red Bull is classified as a soft drink. It is a non alcoholic stimulus drink with an absolutely exclusive formulation consisting of  two natural substances and important metabolic transmitters such as, amino acid, taurin and glucuronolacton in addition to stimulating caffeine, vitamins and carbohydrates. It gives stimulation and revitalizes the body after effort and activates the human performance both mentally and physically. The industry is capital-intensive: average annual profits per production worker are about $700,000. History of Red Bull market expansion In 1982, Dietrich Mateschitz, originator of Red Bull and Chalerm Yoovidhya, decided to enter the market of energy drink which was controlled by Japan and Thailand at that time. In 1987, the product was first introduced to Austria which was a difficult market for Red Bull to carry on. Shortly Mateschitz developed a marketing strategy and as a result the product became well known in Austria and extended into Hungry and the rest of Germany. After that Red Bull has been successfully recognized world-wide and has reached a market leader position in 20 countries- in Europe, Asia and the USA. By 1997, Red Bulls buzz marketing strategy proved successful in the U.S. The following timeline shows the expansion of Red Bull in the market.  [1]   Date Market Expansion 1987 Austria 3.5. (not mature market) 1994 UK, Germany and Eastern Europe 3.6. 1997 US and South Africa 3.5. 3.6. 2006 Japan 3.7. (very mature market) When Mateschitz realized that a great sporting event could be useful, Red Bull started sponsoring about 500 extreme sports athletes and hosting stylish parties. Events are now hosted by Red Bull throughout the world such as the Xgames and the Red Bull Air Races and thus their tagline, gives you wings is known worldwide. Product Review The following table sums up the product review  [2]   Cost $2.00 Cost Per Ounce $0.25 Active Red Bull Ingredients Caffeine, Taurine, B-Vitamins, Sugar Taste Rating 7.5 Kick Rating: 8.0 Final Judgment Rating: 9 Its the original energy drink! Red Bulls mission is to stretch their wings over the world. It is a short phrase that communicates vivid information about the brand. This slogan which is used in all Red Bull campaigns worldwide is creating strong brand awareness of the product and is connecting between the brand and the product type. They are expanding rapidly into global market. They are keen on keeping Red Bull values, while maintaining the control position in the energy drinks category by delivering better-quality customer service in a highly experienced and commercial manner. Direct Competitors Although Red Bull still maintains a dominant position in many significant markets, it is no longer the only player. The major challenge to Red Bulls leading position has come from US-based imitators: Monster, Rockstar and Full Throttle which have introduced price competition to the segment and this is possible to have become more and more important during the depression periods. Monster energy drink does its best to be like Red Bull. The taste is similar, the ingredients are identical, and they target the male/18-25 demographic. Though, they do have one different advantage over Red Bullquantity. The Monster energy drink comes in a 16 oz. can, whereas Red Bull only offers 8.3 oz cans. So, youre essentially getting twice the product at the same price ($2 per can) Rockstar competitive energy drink whose motto is party like a Rockstar, targeted at the younger consumers who want to be wild and crazy and spend all night dancing. There are a number of flavors of Rockstar cola, energy drink, and juiced. The energy drink is similar in taste to all the others, whereas the cola product has the best taste. The juiced version is said to be 70% real fruit juice and 100% energy. They were the first to use the 16oz larger size, and this has fixed and become the standard. Only Red Bull continues to market the smaller cans, which is part of their image. Full Throttle is manufactured and owned by Coca Cola, just like their Coke Blak mixture of coffee/cola drink. Full Throttle energy drink is marketed as a rebellious drink, with erupting flames on the can. An 8 oz. serving has 110 calories (comes in a 16 oz can) and 29g of sugar. It also includes things like ginseng extract and plenty of caffeine. Full Throttle comes with a citrus taste and a red can. Full Throttle was first introduced to the market in 2005. It is targeted at 20-30 year old men, and contains Taurine like Red Bull. From the above stated information we can find that: 1-Monster is similar to Red bull in taste, but only targets males. It has two advantages over RB in price and quantity which is double size of RB. 2- Rockstar is double the size and Price as it is 1.99$ so it is cheaper than RB. 3-Full Throttle has the same taste and ingredients as RB, but it has advantage of quantity and price There are also other industries where Red Bull GmbH  competes such as sports, leisure and recreation. The Brand Positioning In spite of the competition, Red Bull resembles a new type of drinks called the energy drinks. In this new market sector Red Bull has a branding as a top border brand product. The brand positioning of Red Bull comes from the benefits of the product and the brand image. The positioning message of Red Bull is Red Bull vitalizes Body and Mind. This positioning idea has become the unique brand personality of Red Bull, which can be explained below. Sarcastic Self confident Intelligent Innovative Humorous, charming Individualist Impulsive It can be assumed that the positioning idea of Red Bull has created the best energy drink status among the target market. It is also clear that customers appear to be attracted to the general appearance and brand of Red Bull. The positioning strategy of Red Bull aims at best product, top price and top profitability. As for the price, Red Bull has a position in which it can command a best price because there is nothing to compare it with. It is an exclusive useful drink, promising and offering benefits that cannot be offered by any other drink. Threats of new entrants The most significant development in the market of energy drinks and the main direct competitor to Red Bull is the new product from Coca Cola, Relentless. It is also cheaper because it is sold in can double the size of Red Bull but the same price. -First-mover advantage has disappeared as the market has matured. Red Bull is the giant of the stimulant drink industry, in comparison to Coca Cola and Pepsi in the cola market. Red bull has achieved economic level which would allow them to be the most competitive price in the market. Although there is a price gap between Red Bull and other cheaper energy drinks, it seems that Red Bull has surmounted the position segment of the market due to its marketing strategy which is considered a huge barrier to entry. Red bull has a strong brand power that impresses loyal customers and consequently they can charge high prices even when competition comes from Coca Cola. Analysis of Macro and Micro factors affecting the attractiveness of Red Bull in the market Macro factors Political and Legal Forces When Red Bull was first introduced into the market as a new non-alcoholic drink labeled with a new idea as an energy drink, the Health Organisation was doubtful that Red Bull could be an appetizer medicine. Rumors saying that Red Bull contains ingredients like bulls galls, added to their doubts. But confidence in the product increased due to the fact that Red Bull has been used in the Australian market for 9 years and in the Asian market for 30 years without any registered complaints. Moreover a study conducted by an independent institute (ISME) in 1998 proved that although Red Bull has stimulating effects like caffeine, it does not lead to addiction. On the other hand Red Bull still needs approval from each country to be sold. This procedure is time consuming and consequently costly. Some countries still have suspicions about Red Bull. According to msnbc.com in May, 2009, Six German states have asked retailers to stop selling Red Bull Cola energy drinks after a test found a trace amount of cocaine. However authorities say the drug level was too low to cause a health risk. Countries such as Denmark, Norway, and France have banned the sale of Red Bull. This means that legal factors have a high negative effect on RB Economical Factors Red Bull is hardly affected by economic periods of expansion and contraction because it is a particular drink, serving a niche market. Red Bull target market includes sportsmen/women as well as hard working people. The main consumers of the product are Athletes, night clubbers, shift workers, executives and long-distance drivers. Despite the availability of few substitutes, the sales of Red Bull are increasing through their well positioned advertisements. This factor has low influence on RB. Socio-Cultural Factors When the product was first introduced people had doubts about the product and nobody wanted to try it. But now due to change of peoples lifestyle, people are now much more open for new experiences. In addition they are confident to try it, because any health concerns were cleared by organisations like the ISME. The consumers are male and females regardless of age who are very sporty or work very hard. Longer working hours as well as increased road traffic led to more need for energy boost. Nowadays Red Bull has a very stylish image and is sold in a lot of supermarkets and clubs (See the graph which illustrates the categories of males and females consumers)  [3]   Technological factors Red Bull is totally manufactured in Austria where it is exported to 28 countries. There are two reasons why it is not manufactured in any other country; first, to guarantee taste reliability and to make sure that Red Bull tastes the same all over the world. Secondly in that way the formula will be kept securely in one place. Red Bull is normally produced in 250ml cans, but glass bottles are an alternative jus in case they do not have enough cans as it once happened. Energy drink Red Bull, uses electronic points of sale (EPOS) data. This system allows customers research team to check the distribution of Red Bull. This system points out the gaps that can be returned to the retailers. Environmental factors Red bulls cans are environmentally friendly because they are made of recyclable aluminum. Glass bottles can also be recycled and therefore do not damage the environment either. This might give the product a competitive advantage when rules become stricter and more equal throughout Europe as well as in the rest of the world. http://researchwikis.com/Energy_Drinks_Market Micro Factors 6.1 Bargaining Power of Buyers: Top 4 Energy Drinks by 2010 Market Share Rank Energy Drink Parent Company Market Share 1 Red Bull Privately Held 42.6% 2 Monster Hansen Natural 14.4% 3 Rockstar Privately Held 11.4% 4 Full Throttle Coca-Cola Company(KO) 6.9% By working out the concentration ratio of the 4 top energy drinks brands as seen in the above table it will be possible to come to the relative size of the products in relation to the industry as a whole and to determine the market form of the industry. By using the four-firm concentration ratio we find that it is 75.3% which is high, and is bordering between oligopoly and monopoly, In this concentrated market the customers dont have high bargaining power which enables Red Bull to position high prices. Moreover, other products may find it difficult to compete with the brand loyalty due to the huge advertising spending of Red Bull. Consumers in energy drink market are not actually aware of price because they are Consumer with high income and buy it when it is required to regenerate their energy after a long day of hard work. The relationship between the manufacturer and retailer has developed along the market lifecycle resulting in swing of power. The fame of energy drinks has created a market pull where retailers have no real bargaining place. The extent of bargaining power differs according to the distribution channel. Bargaining Power of Suppliers: Red Bull production process is to some extent simple therefore the power of the suppliers is apparently rather low. The added value at each stage leads to large profits. Suppliers can only enter energy drink market through the brand-owner, thus the balance of power is in the favour of the brand owner. -Threats of substitute products Red Bull is a fast moving consumer product and, consequently, it mainly depends on desire purchasing. Although price sensitivity is a low factor inside the target segments, handiness is the average purchase criteria. Red Bull has successfully created a position where product substitution threats are low due to the brand power and customer loyalty. On the other hand, there are other products substituting the need for caffeinated drinks with less sugar and a better blend of carbohydrates and protein that give a greater energy enhancement. Also drinking plenty of fluids, such as water and herbal tea are useful. The market is full of better alternatives than relying on expensive energy drinks that only give you a momentary feeling of energy. The Marketing Mix Strategy Red Bull has its own marketing which is different from the Marketing Mix Theory based on the 4 P ´s. Red Bulls own  Marketing Mix Strategy is consisting of [ 1] the mediaadvertising category, [2] sports-and event sponsoring and [3] sampling. In 2008, Red Bull spent on marketing approximately more than 1 million$ which equals 30% of its revenue. Media Advertising Red Bull uses all the available media channels such as cinema, TV, radio, press and the internet in order to reach its main target market-young people. Thus they successfully advertise in TV shows like T.F.I. Friday and in magazines like Time Out and mens health. By doing so, they let the consumers understand the product and decide about the moments they can use it themselves. Red Bull realizes this by an amusing and humorous cartoon campaign, through which they easily send the message that this energy drink helps you to escape by giving you wings. The idea of communicating with the consumer in the form of a simple cartoon makes the people enjoy the campaigns and at the same time remember the brands name and the message it delivers. Sports-and Event-Sponsoring The company also uses sponsoring in their marketing mix strategy. Red Bull does event sponsoring either by creating its own events (i.e. Red Bull Music Academy .) or by promoting other events (i.e. Speed Ski World Championship). This strategy means that Red Bull brand appears in the form of logos and stickers and that the product  ´s target market is accurately defined. The image, the reliability and the visibility of the product are supported by sponsoring specific events where the peoples attention is drawn to the product. Red Bull sponsors the athlete target market where Red Bull is always needed in extreme sports such as free climbing and motorsports and fun sports as well. Sampling Sampling is another very important part of their three component -marketing system. The methods used are well tested and proven in other markets. The main purpose of Red Bull is to boost the company samples at the right place and at the right time by finding its precise target market such as driving, studying, working night shifts and sports. Sampling is conducted in a charming way by extremely motivated and cultured employees of Red Bull. All their equipment is the product, a free range of clothes and a small, but very attractive sampling car. Red Bull is following the basic sampling rules consisting of: never force the product always explain the benefits of the product drink always a full can ( 250 ml) It must always be cooled being cautious about whom are sampling the product Surveying the local market To have some information about Red Bulls brand image and how the people see it, we made a questionnaire of 3 sections including 13questions. The survey targeted males and females whose age is between 18-34 living in or near Abu Dhabi. 22 % of the respondents are females, whereas 78 % are males. We used Emails to send and collect back the questionnaires. Significant findings The energy drinks market proposes the following drinks: Red Bull, on top then come power Horse, and Monster, The best known beverage is in the city of Abu Dhabi and avenues, is Red Bull as 88 % of the respondents have tasted it and the majority of these people find it good (41 %). The other data have no significance. The most common consumption rate for energy drinks is occasional: 80 % drink occasionally drink and 20 % frequently. With relation to Red Bull, which of the following is important to your purchase?     For 58 % of the people, find the physical boost is important. 36.4 % of the total respondents are influenced to buy Red Bull because it is sponsored by athletes and some related it to formula 1.the taste of the beverage is an extremely important criterion. The smell and the energizing properties are very important (with respectively 45 % and 42 %). The design of the can does not influence so many consumers: 9.1%  buy the drink because of the design. Where do you buy Red Bull? 80% present of the respondents buy it from supermarkets whereas 20% buy it from fending machines at petrol stations. What is the first word that springs to mind when you hear the words Red Bull? 60% said superman, 30% wrote formula1, and 10% said flying in the air Which tag line, if any, do you most associate with Red Bull? 70% chose Brain and body energy, whereas 30%chose Gives you wings Which sports do you most associate with Red Bull? 55% Formula1 and 25 % said motorbikes, 10%responded Golf and 10% chose Athletic 90% described Red Bull as the best energy drink in the market and 10% finds it suitable for their lifestyle Result People dont buy Energy drinks because they really need it but because this need is created by the manufacturer. It is the big advertising campaign which has convinced people to accept this product. Red Bull has been the first energy drink in the market. Red Bulls target is people who need energy and concentration such as sportsmen and students. For that reason, the company sponsors numerous sports events: Formula 1, Xtreme competition. Red bull gives you wings. It is the famous slogan that makes consumers think that Red Bull gives more energy than usual. The result is that the Red Bull has quickly got success by young people. Red Bull keeps on marketing by this young generation. more Conclusion When Red Bull was first introduced, it was easily imitated because the ingredients were printed on the can and the product was not patented. Although the taste of Red Bull did not do well in taste tests, it succeeded due to the marketing strategy. It can be said that Red Bull was not only the first energy drink to be in competition with soft drinks but also created the new energy drink type in the majority of markets. After Red Bull hit the market in the late 90s till the present, many other companies entered the energy drink market but unable to compete with it. Red Bulls has approximately 100 major competitors and the main competitors are Monster, Rock Star and Full Throttle. Many substitute products have been introduced and categorized as energy drinks such as Iceà ¢Ã¢â€š ¬Ã‚ T creating an energy drink called Liquid Ice, Nellys Pimp Juice and Lil Johns, Crunk Juice. Although these competitors are present in the market no other energy drink could maintain Red Bulls 70à ¢Ã¢â€š ¬Ã‚  90% of the market share it has in over 100 countries all over the world. Problems and Opportunities: Problems: Red Bull is not a patented drink product, therefore anyone is able to choose a can, read the ingredients on the label and start their own business. That is why the market is flooded by competition. In addition, Red Bull as well as all other energy drinks and supplements, have received negative reports from a medical point of view. Elevated amounts of caffeine and sugar can lead to adverse effects on heart and blood pressure. Opportunities: Red Bull is one of the most popular energy drinks in the world. They earned this position by intelligent, consistent marketing strategy. Red Bull has the opportunity to maintain their position and develop a continuing pace to aim their niche target consumers by seriously using untraditional and traditional marketing strategies. Red Bull has a competitive advantage over its competitors As we have seen Red Bull is an international energy drink that is sold by Red Bull GmbH. In 2006, more than 3 billion cans were sold in more than 130 countries. -Red Bull has a continual international marketing strategy by sponsoring a variety of great sports to promote a cool public image and enhance brand power. -The product has remained the top energy drink throughout its growth due its effective marketing strategy. The product speaks for itself and its consumers do not report any complaints despite of negative publicity Red Bull has developed a sugar free option. -Red bull has this competitive advantage not only because other drinks that follow it are not as appealing in packaging, marketing, but also because Red Bull is aware of their marketing challenges and they are continually changing and developing their marketing philosophy to overcome and avoid possible competitors. Red Bull Consumer Questionnaire This questionnaire is all about Red Bulls consumers and targets males and females between 18 and 34 years old and based in the Abu Dhabi. Section 1(background) Please specify your age group by putting an x in the box that applies to you. 18-21 22-25 26-29 30-34 2) Where do you live? Please specify closest town/city. Abu Dhabi   Shahama Shamkha   Bani Yass Samha 3) What is your gender? M/F Please specify. Section 2( Loyalty) 1) Are you familiar with the Red Bull brand? Yes/No Please enter in the box. If your answer is no then please do not go past question 3 of this section and I thank you for your time. 2) Which of these drinks are you most aware of? Please rank your top three 1 being youre most aware and put an x beside any others you are aware of. Monster Rockstar Red Bull Power Horse Full Throttle Others please state 3) Which of these drinks would you buy, if applicable? Please rank your top three 1 being your first choice Rockstar Red Bull Power horse Full Throttle Others please state 4- With relation to Red Bull, which of the following is important to your purchase? Please rank each option by putting a circle around the appropriate number. Important Un-important Taste 1 A Hydration 1 B Physical Boost 1 C Mental Stimulant 1 D Sponsored Athletes 1 E Price 1 F Availability 1 G Image 1 H Can shape, colours and size 1 I Association with Extreme Sports 1 J Others please stateà ¢Ã¢â€š ¬Ã‚ ¦ and rank 1 5) Where do you buy Red Bull? Please underline all that apply. Wholesaler Supermarket Independent Retailer Vending Machine Restaurant Hotel Other please state : Section 3 Brand Image 1) What is the first word that springs to mind when you hear the words Red Bull? Please specify your word in the box. 2) Which tag line, if any, do you most associate with Red Bull? Please choose a tag line by underlining it Stimulation for body and mind Brain and body energy   Gives you wings   Your sport, our science 3) Which sports do you most associate with Red Bull? Please rank the sports 1-5 with which you most associate Red Bull. 1 being the highest Please also put an x beside any other sports you associate with Red Bull. Golf Formula 1 Skiing/Snowboarding Mountain biking Athletics Cricket Surfing Motorbikes Skateboarding Obscure Extreme Sports 4) Which sports do you partake in regularly? Please list in the box provided. 5) Does any Red Bull advert stand out in your mind? If so please describe the advert in the box provided. 6) Please try to describe Red Bulls packaging. Please describe any colours and/or emblems in the box provided. 7) How would you rate Red Bulls image? Please rank your option by circling the appropriate number. Cool Un-cool 1 2 3 4 5 8) Which of the following statements if applicable best describes why you buy Red Bull? Please make your selection by underlining the appropriate statement. a) Red Bull fits my lifestyle choice. b) Red Bull has an image Id like to be associated with. It provides me with a welcome energy boost. c) It gets my mind in gear. d) It provides good value against the competition. e) Its the best energy drink on the market. f) It tastes good on its own or as a mixer.

I Prefer to Live in Big Cities Than in Small Towns

I Prefer to Live in Big Cities than in Small-towns In English, there is a well-known fairy story about a poor country boy, Dick Whittington, who goes to London because he believes that the streets of that city are â€Å"paved with gold†. The story is a tale of â€Å"from rags to riches†. Dick eventually becomes the Lord Mayor of London. Like the hero of that story, I love to take adventure in the cities. I grew up in a small town and then moved to a big city, so I have experienced the good and bad sides of both. I never thought that I would like living in a big city, but I was wrong.Cities contain a great assortment of people. Whenever I walk around a shopping precinct at midday on a weekend, I am fascinated by all the different types of people hurrying around the shops. Sometimes, I just sit on a public bench and simply watch the variegated streams of shoppers. Today, in the age of globe-trotting transport and communications, city life is more mixed than it has ever be en. Capital cities are not cosmopolitan, and eager to attract foreign trade currency. There is a contemporary English joke which tells that â€Å"you can never find an Englishman in London†.The United States is made up of people of different races, religions, abilities, and interests. However, you seldom find such a variety of people in a smaller town. I think that living in an area where everyone was just like me would quickly become boring. Whether rightly or wrongly, I love the excitement of big cities. Small towns have a slow pace. Large cities mean you have to adapt to a variety of situations, like finding a new route to work or trying a new restaurant. I enjoy that challenge very much. Another pan of the excitement of city living is the variety of cultural activities available.There is a wide assortment of theatre, music and dance performances available in big cities. These things are rare in small ones. Governments and local authorities usually build public amenities i n the big cities. Money is invested in transport, libraries, parks and museums. Often, countries will compete with each other for the best â€Å"show-case† building. Malaysia has built a skyscraper that is taller than is anything in New York. In large countries, region will compete against region: New York against Chicago, Shanghai against Hong Kong and Beijing. All of this is good for the citizen.The magic of the Dick Whittington story is rekindled in me when I enter a library in a magnificent building. If a person is at university studying art or music, a large city usually offers galleries and public performances. Even when I was a teenager, I appreciated the worth of living in a city because two or three times a year there was a rock concert by one of my favorite bands. There is one thing I want to talk is small-towns and big cities both have some problems in terms of transportation. In a small town, you have to own a car to ensure a comfortable living.You can't get aroun d without one because there isn't any kind of public transportation. Big cities generally have heavy traffic and expensive parking, but there you have a choice of taking public transportation. It's not free, but it's often cheaper than driving when you consider gas and time. Especially if you don't have a car, you're better off in the city. And of course, security is a concern, and that's one area where small towns are superior to big cities. Still, I would rather be a bit more cautious and live in a large city than to feel secure but bored.

Critique of Sap System - Free Essay Example

Sample details Pages: 3 Words: 981 Downloads: 8 Date added: 2017/09/16 Category Advertising Essay Did you like this example? Critique of SAP system Introduction: SAP ERP is an integrated enterprise resource planning (ERP) software manufactured by SAP AG that targets business software requirements of midsize and large organizations in all industries and sectors. More than 2,300 customers are using the latest version of mySAP ERP. It is a real-time process system which all the users log on the central platform server. There are many sub-functions of SAP including SAP ERP Financials, SAP ERP Human Capital, Management SAP ERP Operations, and SAP ERP Corporate Services. We only focus on the revenue cycle and expenditure cycle of the SAP system which is direct related to the accounting information system. Expenditure cycle: About master records: The expenditure cycle is composed of purchase system and accounts payable system. The creation of material master records and vendor master records makes the purchase system more efficient. While traditional information system has three databases include customer sales A/R (customer database), production scheduling shipping (Manufacturing database) and vendor A/P inventory (Procurement database). Don’t waste time! Our writers will create an original "Critique of Sap System" essay for you Create order SAP systems a common operational database (customer, production, vendor, and inventory). The problem with traditional system is the lack of effective communication between systems is often the result of a fragmented systems design process. On the other hand, SAP systems use a common operational database that supports communications and present the data in a way that meets all user needs. The material master is the main source of material specific data. It is used by all components in the logistics system. By using the master record, we can avoid data redundancy, and use the data in many other functions other than purchasing data for ordering. Those include posting goods movements, managing physical inventory, inventory valuation, and material requirements planning. Also material master is divided into three levels: client level, plant level and storage level. The advantage of this is the company can set which information is valid within specific department. As to vendor master data, all the vendors’ information is recorded and updated. Different department can always have access to synchronous and up-to-date information. But a faulty transported object such as a configuration change or code for an interface can have an effect on other SAP functionality in the production environment. For instance a change to the HR module within payroll can affect functionality in the FI-CO module. A server failure under this model could leave the entire organization unable to process transactions. However, two linked servers can be connected in redundant backup mode. Just like material master records, vendor master records are divided into three levels: General data (Client level), Purchasing data (purchasing organization level), and Accounting data (company code level). After create a vendor master record, it is linked to the appropriate reconciliation account in General Ledger. The control problem can be who has the authorization to access the data warehouse. The organization should establish procedures to oversee the authorization of individuals at customer and supplier sites that will be granted access to their data warehouse. Unauthorized access of Material Mater records and Vendor master records can lead to the entire expenditure cycle break down. About purchase requisition: When inventory is below a certain level, the SAP system can generate a requisition automatically when predetermined recorder levels are reached. The problem is the goods may be requisitioned for unauthorized purposes. It will be better if purchase requisitions are prenumbered (instead of get a number after creating a Purchase requisition) within each originating department as a control over outstanding requisition to ensure that goods requisition are duly ordered and received. For purchase other than inventory replenishment, requisition authority is granted to specific people. This authority should usually restricted to the value and types of goods and services applicable to the person’s function and level of authority. Special procedures usually apply for requisition plant and equipment or for entering into lease contracts. About purchase order: In SAP, purchase orders can be created with or without reference to a purchase requisition or a RFQ. That increase the risk of purchases made for unauthorized purposes. We can reset the system that except for programmed inventory replenishment, the purchase department issue purchase orders only on the receipt of requisitions properly approved by an employee who has appropriate requisitioning authority. We can also improve the efficiency of the system by centralization of purchasing in a specialized department. The purchase department is better able to negotiate more favorable terms and prices and, by amalgamating orders, can obtain better volume discounts. About receiving: In receiving goods, SAP can suggest data from the purchase order when the goods receipt is entered in the system. That’s the same effect as the blind copy of PO, it is more efficient because the system can tell the receiving department the right amount immediately. But compare with manual process, the SAP system often eliminates the segregation of duties. However, SAP is the best ERP system to help resolve the segregation of duties problem, which is a basic, key internal control. SAP currently provides more than 150 predefined user roles, which act to limit a user’s access to only certain functions and associated data. When the user logs onto the system, a role-based menu appears on the functions of limiting the user to the specified task. When an invoice is entered in the system with reference to a purchase order, the system suggests data from the purchase order and the goods receipt. If there are any discrepancies between order or goods receipt and the invoice, the system warns the users, and blocks the invoice for payment. But sometimes the discrepancies results from mistakes in goods receipt. That would delay the payment too the vendor. So it will be better if the organization set some manual reviews here. When a discrepancy occurs, the special authorized staff investigates the PO, inventory report from warehouse, and the goods receipt report, and defines the mistake as soon as possible.

Essay about The National Labor Relations Board - 1373 Words

The ability for the federal government to regulate businesses’ activity is given in the Constitution. Article 1, Section 8 is known as the commerce clause; it states, â€Å"Congress shall have the Power†¦to regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes† (Reed, 173). Through the commerce clause, the government is able to regulate business activity by the use of administrative agencies, which is defined as â€Å"a governmental regulatory body that controls and supervises a particular activity or area of public interest and administers and enforces a particular body of law related to that activity or interest† (Administrative Agency, 1). There are two types of regulatory authority that agencies may†¦show more content†¦(Reed, 630) To properly examine the NLRB it is imperative to understand how it is organized. The NLRB â€Å"has five members and primarily acts as a quasi-judicial body in deciding cases on the basis of formal records in administrative proceedings. Board Members are appointed by the President to 5-year terms, with Senate consent, the term of one Member expiring each year† (NLRB.gov). In addition to the board members there is a General Counsel, which is appointed by the President to a 4-year term and is independent from the board. The person appointed to the position of General Counsel is responsible for the investigation and prosecution of unfair labor practice cases and for the general supervision of the NLRB field offices in the processing of cases. (NLRB.gov) The NLRB also has a Division of Judges, which is made up of 40 Administrative Law Judges who hear, settle and decide unfair labor practice cases throughout the United States. Next, it is important to understand what the NLRB does and does not have jurisdiction over. The NLRB does not have jurisdiction over 6 types of labors: (1) governmental employees, (2) persons covered by the Railway Act, (3) independent contractors, (4) agricultural laborers, (5) household/domestic workers, and (6) employees who work for their spouse or parents (Reed, 631). Technically the NLRB has jurisdiction over everything else; however, the NLRB has a limited budget as well as time constraints and so must limitShow MoreRelatedThe National Labor Relations Board Essay1790 Words   |  8 PagesAbstract The recent decision made by the National Labor Relations Board granted collective bargaining rights to graduate student workers and researchers. The focus on the decision was primarily based on the wording or a statutory employee as defined in Section (2)3 of the National Labor Relations Act and ultimately the reversal of the 2004 Brown University decision against the groups legitimate reasoning and desire to unionize. University administrators were against student worker unionization andRead MoreNlrb On Behalf Of Mrs. Dawn Vs. American Medical Response Of Connecticut Company Essay881 Words   |  4 Pagesan alternative response to mistreatment at place of work. As indicated in the National Labor Relations Board website, a concerted activity â€Å"requires two or more employees acting together to improve wages or working conditions, but the action of a single employee may be considered concerted if he or she involves co-workers before acting, or acts on behalf of others† (National Labor Relations Board, 2010). In relation to the above argument, it is clear that the activity of Dawn on facebook was concertedRead MoreThe Law Of The United States1512 Words   |  7 Pagesor the legally unsupported Brown University case, decided by one of the most conservative Boards in recent history, held, â€Å"as a matter of policy,† that graduate student workers were students and, and, therefore, could not be employees as defined by the NLRA. Republic Steel, Dannin, supra note 44 at 260–63. Id. See Consol. Edison Co. v. NLRB, 305 U.S. 197, 220 (1938) (holding that the power of the Board to punish an employer who violates the NLRA is â€Å"remedial, not punitive.†); Republic Steel CorpRead MoreNlrb On Behalf Of Mrs. Dawnmarie Vs. American Medical Response Of Connecticut Company Essay881 Words   |  4 Pagesan alternative response to mistreatment at place of work. As indicated in the National Labor Relations Board website, a concerted activity â€Å"requires two or more employees acting together to improve wages or working conditions, but the action of a single employee may be considered concerted if he or she involves co-workers before acting, or acts on behalf of others† (National Labor Relations Board, 2010). In relation to the above argument, it is clear that the activity of Dawnmarie on facebook wasRead MoreHistory Of Labor And Employment Laws1356 Words   |  6 PagesINTRODUCTION In the history of labor and employment laws in the United States of America, things had drastically varies from years to years. The law of slavery, which governed many American workers until 1865, is covered in a separate entry of laws. Beginning with the 1880s, there was a courts development to control workers injunction with the labor relationship, unlike before the American Revolution when there was no field of labor or employment law. The Revolution brought out powerful independentRead MoreThe Role Of The National Labor Relations Act842 Words   |  4 PagesThe National Labor Relations Board (NLRB) is a federal government agency, founded by Congress in 1935 (Galiatsos, 2015). The primary responsibility of the NLRB is to administer the National Labor Relations Act (NLRA). However, the NLRB takes action to safeguard employees right to organize, and to decide whether to have unions serve as their bargaining representative, with their employer (Galiatsos, 2015). The agency also a cts to prevent and remedy unfair labor practices that are committed byRead MoreA Social Media Policy724 Words   |  3 Pagessocial media. The governmental policies revolve around the Constitutional right of the First Amendment and the freedom of speech. While this provides some protection for employees there are limitations and exclusions that resulted in the National Labor Relations Board stepping in and providing opinions for the legality of employer disciplinary actions regarding social media content and participation. Freedom of Speech The use of the First Amendment right to the freedom of speech is not applicableRead MoreThe Employment Laws Of The Workplace974 Words   |  4 Pagesuse of electronic recording devices by employees in the workplace will likely be for protected concerted activity and provided by  § 7 of the National Labor Relations Act (NLRA). As mentioned above, in the private workplace, the employer practically has absolute power in limiting the conduct, activity, and rights of employees. A fundamental precept of labor law is that â€Å"working time is for work.† Since audio and video recording, as well as photography have great potential for consuming work-timeRead MoreLabor Laws Unions737 Words   |  3 PagesLabor Laws and Unions HRM/531 Labor Laws and Unions Unions employ labor laws to protect their members from organizations that operate in violation of the National Labor Relations Board. It is imperative that organizations such as Lewis Lambert have a clear understanding of their union contract and the laws set forth by the NLRB. Lewis Lambert Lewis Lambert is Sheet Metal Contracting entity located in Fort Worth, Texas established in 1965 that pridesRead MoreEssay on National Labor Relations Act1296 Words   |  6 PagesHistory The National Labor Relations Act (NLRA), also known as the Wagner Act, was enacted in Congress in 1935 and became one of the most important legacies of the New Deal. Prior to the passage of the NLRA, employers had been free to spy on, interrogate, discipline, discharge, and blacklist union members. Reversing years of federal opposition, the statute guaranteed the right of employees to organize labor unions, to engage in collective bargaining, and to take part in strikes. The act also

Review Of Literature Types Of Salt - 1674 Words

Review of Literature Types of salt: Iodized table salt: This is the most type of salt used in homes and kitchens. It is called â€Å"Iodized† because today, most salt manufacturers fortify the salt with mineral Iodine. It is an essential mineral for fighting off certain Iodine-related diseases like hypothyroidism. There’s also another natural way to get this important mineral into someone’s system by eating more seaweed, which is rich in Iodine. Sea Salt: Made from evaporated water in the sea. Their are larger and coarser crystals of salt then Iodized table salt. Sea salt originated from Brittany, France. Sea salt is also 2,000 years old and it is foreign. Kosher Salt: Kosher salt dissolves really fast. This is the type of salt that most chefs use. It is found from the sea or the earth. Brands like Morton and Diamond crystal sells this type of salt. Kosher salt got its name because the crystals make it perfect for curing meat. You can buy Kosher salt in any local supermarket. Crystalline sea salt: Good for using in foods like a fresh salad, salmon fillet, etc. Its origin are the coasts from Portugal to Maine. The texture of the Crystalline sea salt is fine. It also varies in color depending on the minerals it contains. This type of salt can be bought online. It’ll be about $2-$15 depending on how many pounds someone orders. Flaked sea salt: Good for bringing a complex flavor to steamed vegetables or shellfish. Crushing this type of salt between the fingers and letting itShow MoreRelatedAsdsadsd1327 Words   |  6 Pages2.0 Review of Related Literature Reviews of Related Literature and Studies this includes the ideas, generalization or conclusions, methodologies and others. Those that were included in this chapter helps in familiarizing information that are relevant and similar to the present study. Foreign Literature They develop the system entitled eBarCloud. It’s an inventory management software enables you to perform web-based inventory management and cloud inventory control. It makes it easy to gather dataRead MoreCoastal Erosion Of Coastal Vegetation Depending On Their Salinity Tolerance885 Words   |  4 Pagesthat sustain in a highly saline environment are termed as halophytes, including mangroves, which tolerate salinity but perhaps do not require salt to perform their physiological activities. Mangroves are an important type of marine halophytes, which are influenced by salinity throughout their lives but manage to thrive in spite of difficulties. There are two types of halophytes: facultative halophytes and obligate halophytes. Facultative halophytes can sustain in fresh water but grow rapidly with theRead MoreReactive Chromatography ( Rc )1095 Words   |  5 PagesChapter 2 2 Literature review 2 Introduction 2 2.1. Reactive Separation Techniques 3 2.1.1. Reactive Chromatography (RC) 4 2.1.1.1. Principal 5 2.1.1.2. Adsorbent 6 2.1.1.3. Solvent 6 2.1.1.4. Esterification Reaction 7 2.1.2. Reactive Extraction (RE) 7 2.1.2.1. Extractant 8 2.1.2.2. Reaction Product Properties 9 2.1.3. Reactive Distillation (RD) 10 References 13 Chapter 2 Literature review 2.1. Introduction Carboxylic acids (Lactic, propionic, caproic, acetic, picolinic etc.) are chemicalsRead MoreWgu Natural Science1663 Words   |  7 Pages------------------------------------------------- Objective The objective of this experiment is to test the melting point of ice against different variables. I will use a control of ice against air and test this next to ice in water, sugar on ice, salt on ice and Baking Soda on ice. By measuring the melting time of each element on an ice cube I will be able to tell which element affects ice’s melting properties at what rate. Everyday we use chemical mixtures to melt ice that affects our roadwaysRead MoreRoad Safety During the Winter Season1361 Words   |  5 Pagesand Ice operations: Common Chemicals Use Advantages Disadvantages Rock Salt (Sodium Chloride) Chemical used to either break the bond of ice to the pavement or used to prevent it from forming by lowering the freezing point of water. Inexpensive. Very effective. Readily available. Impact on the Environment. Corrosivity. Doesnt work at low temperatures. Sand Used only in Reduced Salt Zones and at very low temperatures when Rock Salt will not work effectively. Inexpensive. Works at low temperatures. AvailableRead MoreTypes Of Hypertension And Secondary Hypertension1434 Words   |  6 Pagesexpected to keep rising further increasing the risk for millions in developing cardiovascular disease. There are two main types of hypertension. Secondary hypertension is caused from an underlying disease in the adrenal or renal systems or by use of certain medications. It is resolved when the cause is treated or removed. Primary or essential hypertension is the most common type with the cause being unclear although the incidence is higher with age and weight. Pathophysiology The amount of bloodRead MoreTypes Of Integrated Pest Management Programs Against Cotton1198 Words   |  5 PagesThe spiny bollworm, E. insulana and the pink bollworm, P. gossypiella are the most serious pest’s infested cotton in Egypt. The reduction in cotton yield was mostly related to the Review of literature 39 late season infestation with both species and the economic yields are almost impossible to achieve without their chemical control. In Egypt, Khidr et al. (1996) tested the efficacy of the pyrethroids, cypermethrin, cis-cyfluthrin, S-fenvalerate, fenpropathrin and cyhalothrin against P. gossypiellaRead MoreAnalysis Of Reinforced Concrete Transportation Structures944 Words   |  4 Pagesconstructing many of these infrastructures. RC is a unique construction material which allows flexible design layouts and offers safe bending and torsion to satisfy design requirements. However, being exposed to harsh environment and contamination such as salts, acid rain, distilled water, carbonation, sulphur and so on are the reasons for deterioration, thus significantly impacting the performance of these structures. Furthermore, the deterioration of these structures is not only a safety issue but alsoRead MoreNanotechnology Case Study997 Words   |  4 Pagesthe promising research areas in the biological fields including agriculture and allied areas. Indiscriminate use and continuous application chemical pesticides lead to accumulation of toxicants in environment and soil ecosystem. To overcome these types of problems, development of nanoparticles and use at lower dose to get higher efficacy by green nanotechnology is one of the alternatives and eco-friendly approaches. Bio-synthesis of plant based nanoparticles is economically feasible compared to nanoparticlesRead MoreImproving Quality Of Cameras On Mobile Devices Essay1006 Words   |  5 Pagesprocess. In the presence of such distortions, the ability to automatically assess the quality of captured images is also becoming increasingly desirable. In this project, our aim is to exhibit a detailed study of the types and sources of document image degradations and then review the techniques for document image degradation. At the end, we discuss some measures and conduct experiments that are used to characterize document image quality. 1.2 Background Information Optical character recognition

Develop Teams Individual Free Essays

string(123) " collect feedback on performance of team members from relevant resources and compare with established team learning needs\." This report will look at identifying and implement learning and development needs for an automotive service workshop. It will look at developing a learning and development plan, elaborating a strategy to encourage staff to self evaluate performance, assessing performance, providing feedback and managing follow up. It will use Richard Parser’s Automotive Service Team workshop as a case study to help understand the problems of managing people learning needs and performance implementing. We will write a custom essay sample on Develop Teams Individual or any similar topic only for you Order Now Background Richard Parker has been in business for three years, in Preston, Melbourne. Richard employs eight full-time and two part-time staff. Four of the full-timers work in the workshop and two in in the back office and two in the front office dealing with customers. Richard has noticed that the front office staff and their customer service are not up to the expected level. For example customers don’t get the service that they require or the product they order. Richard complains of staff not showing up for work at the right time and so on. Richard has also faced some issues with the local council over solid and liquid waste disposal. The back end office staff often confronts the mechanics when they order spare parts for the services to be carried out. The back office staff always complain of issues with suppliers. Suppliers complain of the ambiguous ordering process of the back staff. Richard finds some irregularity in his teams in terms of application of skills and knowledge. He believes that it is the right time for him to take the right actions to turn the business into the right direction. That’s why he decides to identify and implement learning and development needs for is staff. Report AAA . Recommended learning method is a Training Needs Analysis (TAN) Richard could identify his team learning needs using a systematic approach and going through four steps of analysis: 1. Analysis of the competencies that each employee must have to improve the business flow. 2. Analysis of the organization requirements to focus where is the learning and development need located. 3. Task analysis to establish what individuals and teams must learn in order to satisfy the required learning and development need. . Team analysis to determine which employee needs a learning program. To conduct this analysis Richard will need to: now his company situation, ; identify required competencies of his team, ; involve employees in decision making, survey, discuss and analyses actual data, prepare specific employee development plans, implement the plans. Before to designing the training progr am, it will be very important that Richard conduct a SOOT analysis, to identify his team Strengths and Weakness points; and his business Opportunities and Threats. To fill the gap between the Job requirements and current abilities of his employees, Richard has to conduct a training needs analysis, making sure that it’s targeted to a specific need and satisfies training acquirement. The training needs will be the result of collecting information on the skills, knowledge and attitude required to perform a Job task, identifying the training need and performance gap. When designing the learning needs analysis, Richards aim is to: ; assess the current situation. Define the problem (what gaps exist? ). Determine if there is a need for training/learning. Determine what is driving this need for training/learning. ; evaluate existing training. Assess the possible learning solutions. Ascertain information about logistical considerations/constraint. The Training Needs Analysis will provide the following benefits: ; A clear indication of what needs to be included in a training program. ; Assists in developing learning outcomes (by identifying precis ely what needs to be learnt). ; Clarifies areas for assessment. O Provides guidance on development, delivery, presentation methods and media to be used. Provides knowledge of the target audience, training gaps and proposed content. ; Will allow specific evaluation to ascertain its success. AAA. Learning and Development Plan. Name: Paul smith Date: 25. 02. 2014 Job position: Front office, customer service. Learning improvements goals Dealing with customers Communication with the staff Being at work on time Learning outcomes Delivering effective customer service Team working Effective internal communication Respect of workplace rules and workflow Strategies / steps or actions Analysis of training needs: interview to identify performance needs. Identification of appropriate learning methods: consulting of guest speaker. ; Employee self-evaluation of performance: simulated work experience. ;Owner feedback: on-the-Job coaching or mentoring. Follow up: simulated work experience. Behavior/ expectations/support ; Elaborate a learning plan targeted, collaboratively developed, agreed to and implemented. ; Owner identifying and approving resources and time lines required for learning activities. ; Employee proclivity to fill in the performance gaps. Owner providing coaching and mentoring assistance. Owner providing encouragement and positive feedback to the employee. Data/ resources Survey to be subordinated during informal interview. ; Guest speaker identifying appropriate learning methods. Timeline ; 1 week for analysis ; 1 week for simulating work experience, feedback and follow up. AAA. Employee self-assessment. SELF ASSESSMENT Employee details Name: PAUL SMITH position: FRONT OFFICE work area: CUSTOMER SERVICE contact no. : 555 555 555 1. Sees your current level of skill/knowledge relating to the skills/knowledge provided: I know how to take orders from clients, how to answer to phone calls, how to record appointments on the agenda. 2. Think about the requirements of your Job in relation to the skill areas and note the major task/knowledge requirements of your position: I need to improve my approach to the Clients, delivering effective customer service. I need to learn how to use suppliers database, to improve communication tit back office staff. I need to learn more about mechanical components, to improve communication with staff. I need to respect more workplace rules and workflow. 3. Where you can identify that your skills/knowledge are less than those required for your position, tick the box Training Required: a) Dealing with customers b) Communication with the staff c) Being at work on time 4. Where training is required, decide how soon your training should occur: a) the next 2 weeks b) In the next 2 weeks c) Immediately AAA. Feedback mechanisms. In Richard needs to collect feedback on performance of team members from relevant resources and compare with established team learning needs. You read "Develop Teams Individual" in category "Papers" Feedback on performance may include: ; Formal/informal performance appraisals. Obtaining feedback from clients. Obtaining feedback from supervisors and colleagues. Personal, reflective behavior strategies. ; Routine organizational methods for monitoring service delivery. Richard may use some formal systems in comparing established team learning needs, such as measurement systems (including planning), individual and team performance and reward systems, resource allocation systems. Richard should use also some informal yester in comparing established team learning needs, including meeting formats and conflict resolution protocols. AS. Development program Goals. Richard has to identify and develop program goals and objectives in order to establish clear training goals, learning objectives, and long-term objectives based on the outcomes that his employees wish to achieve. The goals and objectives indicate what the participants will learn and achieve as a result of their learning. To be effective, training must be specifically structured to meet stated outcomes and must be based on: ; Clear and measurable goals. Clear and learner focused objectives. Long-term objectives, to establish a pattern for future evaluation. Richard should provide to his employees a document that specifies in a structured format how they should perform a Job or work role (competency standard). AAA. Appropriate Learning Methods. Learning delivery methods appropriate to the learning goals may include: ; Conference and seminar attendance ; Formal course participation ; Induction Involvement in professional networks On-the-Job coaching or mentoring Presentations/demonstrations ; Problem-solving Work experience It is important to give the right consideration to participants expect and their earning style. Some learning methods might be not effective because: ; Lack of practical information (too much theory or background and not enough â€Å"how-to† approaches or action steps). ;Material too elementary and/or out of date, no â€Å"state of the art†. ; Not enough group interaction (too much lecturing). O Lecture notes and visuals not sequenced with course coverage. Sometimes boring. Disorganized – skipping from topic to topic with no sense of direction. ; Poor visuals. To provide an effective training program, the trainer should: ; Assess in advance the relative importance of each segment of the learning program. Spend more time on the most vital segments. Determine priorities for the elements of the session in advance. An effective trainer should avoid spending too much time on relatively lightweight portions of the learning program and being sidetracked by too many questions. AAA. Workplace opportunities. Informal session for customer service for front office staf f. ;Refresh training in the main workshop. Rear house session with supplier sell manager. AAA. Assess and record outcomes of recommended training. Assessment in training is about measuring learners to see if they have reached the stated objectives of the course. To assess and record outcomes and performance of individuals and teams you need to evaluate their knowledge and their skills. 1 . Knowledge: what learners gained as a result of training. These assessments test the recall of facts, comprehension skills, analysis skills, synthesis skills and evaluation skills. 2. Practical skills: the application of knowledge to a given situation. Knowledge and Practical skills include four main types of assessment: 1 . Real work: Takes place whilst the learner is performing real work, on- the-job. 2. Simulated work: Usually performed off-the-job, possibly in a training room or mock up work site. 3. Written: Used to demonstrate in written form what they know, either on paper or on computer. 4. Oral: When learners speak about what they know. One of the key challenges with assessment is to be able to assess the learning back in the workplace, â€Å"on the Job†, and it is possible to check it through the Performance Review Programs, which include observations on the Job. It is also fundamental to record assessment, keeping â€Å"training records† through a recording system that enables easy identification of what training each staff member has completed and when. Depending on the size of the organization, this could be a simple matrix or it ay be done through the use of software commonly known as a â€Å"Learning Management System† (ALMS). AY. Adjusting the learning program. After monitoring and evaluating if the training course met the aims and objectives for which it was developed, it is important to adjust the learning program, if it is not u to expected dimension. Based on both assessment and evaluation, it might be needed to make or recommend changes for future training to improve the efficiency and effectiveness of learning. Changes can be made on different sides: TIME: Recommending a review of time to address the time to provide a more impressive treatment of the subject or selecting in lecture notes. CONTENT: Reviewing or re-writing the content of a presentation, for example to ensure emphasis on the practical application of the material. DELIVERY: Focusing learning material on fact and accepted knowledge not on opinion or on a particular style of management. Proposing to the learners generally and officially accepted management techniques and policies. FORMAT: Including a glossary of terms and an annotated bibliography to the notes. Organizing the content of the learning notes, making frequent use of headings and sub-headings and bullet points. Reviewing formatting and printing to improve the efficiency and effectiveness of learning. Providing copies of the learning material in advance so that those involved with changes can be appraised of the current presentations. AI. Documenting and maintaining records and reports of competency gained. Many methods can be employed to document and maintain records: ; Training evaluation form template Course participants to complete and to hand form to trainer after completion ; Assessment by course Director/Supervisor/Owner Owner/Supervisor to complete either with, or after discussion with the participant. Owner/Supervisor to complete either with, or after discussion with the participant 1 . Have you seen the desired changes to the participant’s skills or knowledge? Yes 2. How will you test that the participant has gained from this course? Simulating work experience. . If the participant did not make the gains necessary, what can be done to address this? He can be trained again trough an on-the-Job coaching or mentoring and he could attend a formal course about customer service, internal communication and mechanical components. 4. From discussions with the participant, are you both attested that attendance at the training plan was worthwhile? Yes 5. Other comments? Elaboratin g a training need analysis was a effective way to improve my staff knowledge and skills and to implement and develop an effective team work. Supervisor: Richard Parker Date: 25. 02. 2014 Conclusion/Summary This report has looked at identifying and implement learning and development needs for an automotive service workshop. Developing a learning and development plan, elaborating a strategy to encourage staff to self evaluate performance, assessing performance, providing feedback and managing follow up. The process of monitoring, evaluating, implementing and developing people performance is essential to the success of any business. How to cite Develop Teams Individual, Papers

Positive Accounting Theory

Question: Write about Positive Accounting Theory (PAT) and you have to mentioned that you gonna support Current Accounting Standard so we don't need new Accounting. Answer: Summary The paper examines the BPs Deepwater Horizon oil spill to illustrate the need for the prior provision of detailed information as required by the public interest theory of accounting. From the BPs Deepwater Horizon oil spills case, BP hoarded the critical ecosystem information to the public to avoid compensation for the damages. This practice went against the Interest Theory consequently delaying payment of damages caused by externality (Herz and Petrone 2004). The BP has underestimated the physical damages by taking the advantage of the challenge of demonstrating causally linked effects. The BP also took the advantage of the then methods of measuring ecosystem services which fell short of a more mature stage. However, the current accounting standards are effective in ensuring that the plaintiffs, government trustees as well as courts enjoy powerful tools for assessing marine liability damages. Abstract The BP failed to disclose the critical accounting information to escape proper payment of damages since the cost are not the same as the benefits. This problem is complicated by the fact that a focus on the restoration cost as a measure of the damages has the possibility of leading to both over-deterrence and under-deterrence depending on the association of restoration cost to the true social cost of the physical damage. BP prevented the plaintiffs, trustees as well as courts from having powerful techniques for active assessment of marine liability damages. The paper stressed the significance of the Interest Theory and Positive Accounting Theory in ensuring that BP disclose the required information. The current accounting standards are efficient to tackle issues in accounting and hence it unnecessary to embrace new Accounting Standards. Introduction The discussion of this paper anchors on the BPs Deepwater Horizon oil spill to showcase the need for prior provision of detailed information as required by the public interest theory of accounting. The failure of BP to provide the required ecosystem information to the public tends to go against the Interest Theory and has derailed the process of settling the damages caused by BP through this externality. BP has failed to give detailed information on the external cost that resulted from the spillages. Accordingly, the BP has underestimated the physical damages taking the advantage of the challenge of demonstrating causally accompanying effects. The BP has taken this advantage to escape proper payment of damages since the cost are not the same as the benefits. This problem is complicated by the fact that a focus on the restoration cost as a measure of the damages has the possibility of leading to both over-deterrence and under-deterrence depending on the association of restoration cost to the true social cost of the physical damage. The BP also took the advantage that the then methods of measuring ecosystem services fell short of a more mature stage, as it is presently, to bar the plaintiffs, trustees as well as courts from having powerful mechanisms for effective assessment of marine liability damages. BP, therefore, benefitted since the then prevailing scientific and economic knowledge restricted technical calculation of damages thereby paving the way for political bargaining. BP optimized this deficiency by neither failing to fully disclose the details of the ecosystem as well as social damages, nor the fundamental computation methodologies of the firms pre-tax charge of US$40.9. Nevertheless, this paper stresses the importance of the Interest Theory and Positive Accounting Theory and how they could have ensured that BP discloses the required information. Accordingly, the paper takes a stance that supports the effectiveness of the current Accounting Standards by showcasing that it is needless to introduce new Accounting Standards. Discussion Interest Theory The Interest Theory posit that regulation is supplied in reaction to the public demand for the correction of the inequitable or inefficient practices in the market. The Interest Theory assumes regulation to benefit the society as an entirety instead of given vested individual interest. The theory regards the regulatory body as the representative of the entire societal interest where it undertakes its operations rather than the individual regulators interests. The Interest Theory is based on certain assumption in its operation. One of these axioms is that markets are extraordinarily delicate and suitable to undertake their operations inequitably and inefficiently if the regulator does not intervene. The theory views the government as an unbiased arbiter to facilitate market operations. The public interest perception hold that governments undertake regulatory activities on banks to enhance the efficient operations of financial institutions by bettering market failures to trigger gains of broader civil society. The theory is sensitive to market fragility and its likelihood of operating in favor of private concerns while neglecting the significance of the society as a whole. Accordingly, it recommends government market intervention to direct and monitor the economic markets. The government intervention focuses on making banks serve the social interest in allocating resources efficiently. It provides that the corporate need to disclose adequate and updated information about their financial performance, and non-financial relevant information including environmental and social impacts (Chua and Taylor 2008). The Interest theory anchors on the rationale to introduce the legislation that mandates the corporate to disclose the impact of their operations on the environment and society. It also advocates for the disclosure of initiatives that corporate embrace to safeguard the society as well as environment from adversarial impacts of their operations. Role of regulators (politicians) Accounting regulation is a product of political processes. However, people raise questions on the perception that financial accounting should be neutral, objective as well as apolitical when practitioners agree that accounting standard-context process is a political process (Chapple and Koh 2007). Nevertheless, the bottom line is that financial accounting impacts the wealth distribution within the society and hence it is a political process. The free market perspective hold that accounting information need to be treated similarly to other goods where the supply and demand forces need to be permitted to operate to produce an optimal supply information regarding the firm. However, pro-regulation viewpoint holds that accounting information needs to be treated as a public good. In this case, once the accounting information is available, the public can utilize it without paying as well pass it on to their colleagues (Whitley 1988). The regulators hold that few people have the incentive to pay for the services and goods in the same way producers will. Consequently, underproduction of information will occur (Kabir 2010). The regulators come in to help alleviate this underproduction phenomenon. Regulation is, therefore, critical to declining the impacts of market failure regarding the accounting information (McMahon, Davies and Bluhm 1994). The existence of a horde of accounting standards in the developed countries that cover a vast cross-section of issues have triggered regulation. Proponents of regulation oppose the free-market mechanism and advocate for regulation for universal methods to enhance comparability as well as safeguard misleading information. Therefore, the public interest theory of regulation help protects the public. Motivations of politicians as regulators The inefficiency and inadequacy of the market motivate the regulators to intervene by being neutral arbiters of the public interest. Since the accounting information is a public good, the producer is unwilling to pay the additional cost of generating the required information leading to under-production of the information. However, since this information is critical to the public, the regulators come in as neutral arbiters to correct the inefficiency and inadequacy in the market (Herz and Petrone 2004). The regulators will make legislations and standards that guide the financial reporting including the disclosure of pertinent information. The availability of this information, for instance, the environmental and ecosystem impacts of a firms operation, allows the regulator to safeguard the interest of the public in case of externalities as witnessed in BPs Deepwater Horizon oil spill. The regulators want to integrate biodiversity as well as ecosystem services metrics into the environmental risk management procedures alongside the information systems of the entire business operating perilous property. They are also inspired to establish more reliable environmental accounting as well as reporting practices to address the corporate environmental performance (Cheney 2001). The regulator also want to make entities adopt an integrated reporting for companies which integrates social, financial, and environmental (non-monetary and monetary) issues thereby generating honest disclosure of integrated performance of entities to the stakeholders. Response to the article by arguing a position I do not agree with the decisions taken by BP to compensate for damages caused by the Deepwater Horizon oil spill. BP violated the requirements and goodwill of the Interest Theory by hoarding essential ecosystem information. In this regard, BP did not give the exact demonstration of the social damages that its operation caused to the public making it hard to use technical calculations to arrive at better compensation. The government trustees, therefore, found it tough to vigorously measure the lost ecosystem services and goods (Christenson 1983). If BP could have embraced the Interest Theory provisions, it could have disclosed critical information helpful in assessing the suitability of the extensive amounts charged thereby determining whether there were negative externalities uncounted for by BP. The information could have also help in understanding the amplitude of the efforts of restoration to be carried out about the ecosystem values as well as assets that have been lost or partially diminished. In this regard, the restricted disclosure by BP falls short of providing the stakeholders with the comprehensive picture of the financial environmental as well as the social implication of the Deepwater Horizon oil spill. As reflected in Positive Accounting Theory (PAT), the disclosure of accounting information is effective (Klersey, Stunda and Vinson 2005). PAT is helpful in the prediction of actions such as the choices of accounting policies by entities and how firms react to proposed new accounting standards. The PAT is also helpful in the reconciliation of efficient securities market theory with the economic consequences. As reflected in the BPs Deepwater Horizon oil spill, PAT was helpful in the minimization of political heat. PAT hold that the severe the political cost a firm faces, the most probable that a manager is to embrace accounting procedures which defer reported earnings from current to the future. BP made policy choices that helped it minimize the contracting cost as well as accounting policies. PAT aligns to the current effective accounting standards such as AAS 16 which details the reporting and disclosure requirements of the information (McMahon, Davies and Bluhm 1994). It advocates for the disclosure of up-to-date status as well as trends of the ecosystem within which BP undertakes its operation. This is essential in ensuring that stakeholders possess strong ecological reference points before the occurrence of any potential accident, like oil spillage. The current accounting standards are effective, and there is no need for new standards. The standards such as AAS 15 and AAS 16 have comprehensively detailed disclosure and reporting requirements. The standards provide for social and ecological externalities of the BP including the accidents on water consumption, climate regulation as well as biodiversity. In this case, the currently available accounting standards only need proper implementation based on goodwill rather than introducing new standards to solve the cases regarding externalities due to inadequate disclosure as reflected in BPs Deepwater Horizon oil spill. Conclusion BP benefitted because the prevailing scientific and economic knowledge restricted technical calculation of damages thereby giving room for political bargaining. BP exploited this deficit by neither failing to disclose the details of the ecosystem as well as social damages, nor the underlying computation methodologies of the firm's pre-tax charge of US$40.9. The paper has emphasized the position of the Interest Theory and Positive Accounting Theory in the facilitation of both disclosure and financial reporting. It demonstrated that BP did not disclose the required information (Nagy 2001). The paper supports the effectiveness of the current Accounting Standards and hence it is needless to introduce new Accounting Standards. References Chapple, L.J. and Koh, B., 2007. Regulatory responses to auditor independence dilemmaswho takes the stronger line?. Australian Journal of Corporate Law, 21(1), pp.1-21. Cheney, G., 2001. Creating a corporate conscience: New role of non-financial reports. Accounting Today, 15(7), pp.3-4. Christenson, C., 1983. The methodology of positive accounting. Accounting Review, pp.1-22. Chua, W.F. and Taylor, S.L., 2008. The rise and rise of IFRS: An examination of IFRS diffusion. Journal of Accounting and Public Policy, 27(6), pp.462-473. Herz, R.H. and Petrone, K.R., 2004. Internaitonal Convergence of Accounting Standards-Perspectives from the FASB on Challenges and Opportunities. Nw. J. Int'l L. Bus., 25, p.631. Kabir, H., 2010. Positive accounting theory and science. Journal of Centrum Cathedra, 3(2), pp.136-149. Klersey, G., Stunda, R.A. and Vinson, R.E., 2005. The Effect of Derivative usage on Security Returns. Academy of Accounting and Financial Studies, pp.123-129. McMahon, R.G., Davies, L.G. and Bluhm, N.M., 1994. Exploratory modelling of financial reporting and analysis practices in small growth enterprises. The Journal of Entrepreneurial Finance, 3(3), p.199. Nagy, J., 2001, January. The emergence of the public sector expectations gap. In International Conference-Accounting, Auditing Management in Public Sector Reforms, Zaragoza (Espagne), 79 September 2000, EIASM (pp. 459-475). Perry, J. and Nelke, A., 2005. International accounting standard setting: A network approach. Business and Politics, 7(3). Ruder, D.S., Canfield, C.T. and Hollister, H.T., 2004. Creation of world wide accounting standards: convergence and independence. Nw. J. Int'l L. Bus., 25, p.513. Schaub, A., 2004. Use of International Accounting Standards in the European Union, The. Nw. J. Int'l L. Bus., 25, p.609. Sennetti, J. and Litt, B., 2013. Persuasion as a Prelude to Proof: Theory Acceptance in Accounting Research. Advances in Business Research, 4(1), pp.54-67. Tweedie, D. and Seidenstein, T.R., 2004. Setting a global standard: The case for accounting convergence. Nw. J. Int'l L. Bus., 25, p.589. Watts, R.L. and Zimmerman, J.L., 1986. Positive accounting theory. Watts, R.L. and Zimmerman, J.L., 1990. Positive accounting theory: a ten year perspective. Accounting review, pp.131-156. Whitley, R.D., 1988. The possibility and utility of positive accounting theory. Accounting, organizations and Society, 13(6), pp.631-645.