Biography of Architect Norma Merrick Sklarek

Architect Norma Merrick Sklarek (born April 15, 1926 in Harlem, New York) worked behind the scenes on some of the largest architectural projects in America. Notable in architectural history as the first Black American woman registered architect in New York and California, Sklarek was also the first Black woman to be elected to the prestigious Fellow of the American Institute of Architects (FAIA). In addition to being the production architect for many high-profile Gruen and Associates projects, Sklarek became a role model to many young women entering the male-dominated architecture profession. Sklareks legacy as a mentor is profound. Because of the disparities she faced in her life and career, Norma Merrick Sklarek could be sympathetic to the struggles of others. She led with her charm, grace, wisdom, and hard work. She never excused racism and sexism but gave others the strength to deal with adversities. Architect Roberta Washington has called Sklarek the reigning mother hen to us all. Others have called her The Rosa Parks of Architecture. Fast Facts: Norma Sklarek Occupation: Architect  Ã‚  Ã‚  Also Known as: Norma Merrick Sklarek, Norma Merrick Fairweather, Norma MerrickBorn: April 15, 1926 in Harlem, New YorkDied: February 6, 2012 in Los Angeles, CaliforniaEducation: B.Arch. from Columbia University’s School of Architecture (1950)Architecture with Cesar Pelli: San Bernardino City Hall (1972) ; Columbus Courthouse Center in Indiana (1973); Pacific Design Center in California (1975); The U.S. Embassy in Tokyo, Japan (1978)Key Accomplishments: As a Black female, Sklarek became a well-respected project director and educator within the white male dominated field of architecture.Fun Fact: Sklarek been called The Rosa Parks of Architecture East Coast Years Norma Merrick was born to West Indian parents who had moved to Harlem, New York. Sklareks father, a doctor, encouraged her to excel in school and to seek a career in a field not normally open to females or to Americans of color. She attended Hunter High School, an all-girls magnate school, and Barnard College, a womans college associated with Columbia University, which did not accept women students at the time. In 1950 she earned a Bachelor of Architecture degree. After receiving her degree, Norma Merrick was unable to find work at an architecture firm. After being rejected by dozens of firms, she took a job at the New York Department of Public Works. While working there from  1950 to 1954 she studied for and passed the grueling, week-long series of tests to become a licensed architect in New York State — on her first try. She was then in a better position to join the large New York office of Skidmore, Owings Merrill (SOM), working there from 1955 until 1960. Ten years after earning her architecture degree, she decided to move to the West coast. West Coast Years It was Sklareks long association with Gruen and Associates in Los Angeles, California where she made her name within the architecture community. From 1960 until 1980 she used both her architectural expertise and her project management skills to realize the many multi-million dollar projects of the large Gruen firm — becoming the firms first female director in 1966. Sklareks race and sex often were marketing detriments at the time of her employment with major architectural firms. When she was a director at Gruen Associates, Sklarek collaborated with Argentina-born Cà ©sar Pelli on a number of projects. Pelli was Gruens Design Partner from 1968 to 1976, which associated his name with new buildings. As Production Director, Skarek had immense responsibilities but was rarely acknowledged on the finished project. Only the U.S. Embassy in Japan has acknowledged Sklareks contributions — the Embassy website stated that The building was designed by Cà ©sar Pelli and Norma Merrick Sklarek of Gruen Associates of Los Angeles and constructed by Obayashi Corporation, as straightforward and matter-of-fact as Sklarek herself. After 20 years with Gruen, Sklarek left and from 1980 until 1985 became Vice President at Welton Becket Associates in Santa Monica, California. While there, she directed the construction of Terminal One at Los Angeles International Airport (LAX), which opened in time for the 1984 summer Olympic games in Los Angeles. In 1985 she left Welton Becket to establish Siegel, Sklarek, Diamond, an all-woman partnership with Margot Siegel and Katherine Diamond. Sklarek is said to have missed working on the large, complicated projects of previous positions, and so she finished her professional career as Principal at the Jerde Partnership in Venice, California from 1989 until her retirement in 1992. Marriages Born Norma Merrick, she was married three times. She is also known as Norma Merrick Fairweather, and her two sons are Fairweathers. Sklarek was the name of Norma Merricks second husband, architect Rolf Sklarek, whom she married in 1967. It becomes understandable why professional women often keep their birth names, as Merrick changed her name again in 1985 when she married Dr. Cornelius Welch, her husband at the time of her death. Quote In architecture, I had absolutely no role model. Im happy today to be a role model for others that follow. Death Norma Sklarek died of heart failure at her home on February 6, 2012. She lived with her third husband in Pacific Palisades, an affluent residential area of Los Angeles, California. Legacy Sklareks life has been filled with many firsts. She was the first Black woman to be licensed as an architect in New York (1954) and in California (1962). In 1959, Sklarek became the first Black woman to become a member of the American architects national professional organization, the American Institute of Architects (AIA). In 1980, she was the first woman to be elected a Fellow of the AIA (FAIA). Its notable that in 1923 Paul Revere Williams became the first Black architect to become a member of the AIA, and he rose to become a Fellow in 1957. In 1985, Norma Sklarek helped establish and managed the California firm Siegel, Sklarek, Diamond, one of the first woman-owned and operated architectural firm. Norma Merrick Sklarek collaborated with design architects to transform building ideas from paper to architectural realities. Design architects usually receive all the credit for a building, but just as important is the production architect who sees the project to completion. Austrian-born Victor Gruen has long been credited with inventing the American shopping mall, but Sklarek was ready to carry out the plans, making changes when necessary and solving design problems in real time. Sklareks most significant project collaborations include City Hall in San Bernardino, California, Fox Plaza in San Francisco, California, the original Terminal One at the Los Angeles International Airport (LAX) in California, Commons - Courthouse Center in Columbus, Indiana, the Blue Whale of the Pacific Design Center in Los Angeles, the U.S. Embassy in Tokyo, Japan, Leo Baeck Temple in Los Angeles, and the Mall of America in Minneapolis, Minnesota. As a Black American architect, Norma Sklarek more than survived in a difficult profession — she thrived. Raised during Americas Great Depression, Norma Merrick developed an intelligence and tenacity of spirit that became an influence to many others in her field. She proved that the architecture profession has a place for anyone willing to persist at doing good work. Sources AIA Audio Interiew: Norma Merrick Sklarek. http://www.aia.org/akr/Resources/Audio/AIAP037892?dvidrecspecAIAP037892Bellows, Layla. Norma Sklarek, FAIA: A Litany of Firsts that Defined a Career, and a Legacy. AIA Architect. http://www.aia.org/practicing/AIAB093149Beverly Willis Architecture Foundation. Norma Merrick Sklarek.  http://www.bwaf.org/dna/archive/entry/norma-merrick-sklarekBWAF Staff. Roberta Washington, FAIA, Makes A Place, Beverly Willis Architecture Foundation, February 09, 2012. http://www.bwaf.org/roberta-washington-faia-makes-a-place/National Visionary Leadership Project. Norma Sklarek: National Visionary. http://www.visionaryproject.org/sklareknorma/U.S. Department of State. Embassy of the United States, Tokyo, Japan. http://aboutusa.japan.usembassy.gov/e/jusa-usj-embassy.html

Essay on Amer. Lit - 2033 Words

Possible Essay Questions: 1. Consider the imagery used in Shakespeare’s assigned sonnets, Herrick’s â€Å"To the Virgins,† and Marvell’s â€Å"To His Coy Mistress.† Although their images differ, what do all these poets seem to be saying about time? Be specific when referring to the poems. The imagery is very different, but all of the poems and poets seem to be saying time is important in life. In Shakespeare’s Sonnet 18 he says, â€Å"And every fair from fair sometime declines,† when explaining the inevitable decline in appearance of his friend (Line 7). In Shakespeare’s Sonnet 29 he says, â€Å"I all alone beweep my outcast state,† suggesting that he regrets the decisions he has made in his life and might have made different decisions if he was given†¦show more content†¦Although she deliberately states that she will not judge his actions one way or the other, this is the only play she vocally states that judgment is needed, thus her implication of his disagreeable actions. The irony with this belief is that she is clearly anti-slavery, but alludes to women following their husbands rather than having a say in important decisions. For instance, when Tuscan informs Oroonoko that his wife and children may not be fit to escape through the mountains and woods Oroonoko says, â€Å"if there were a woman among them so degenerate from love and virtue to choose slavery before the pursuit of her husband, and with the hazard of her life to share with him in his fortunes, that such a one out to be abandoned† (2217). This is interesting because Behn has had personal experience with being oppressed as a result of her gender, yet in this story she condemns slavery while the hero degrades women. 4. Swift asks those who find fault with his proposal to ask the parents of the poor children of Ireland a question. What is that question, and how does he think they will answer? Why? Jonathan Swift outlines two main points for those who find fault with his proposal to consider. First he says, â€Å"how they will be able to find food and raiment for an hundred thousand useless mouths and backs,† suggesting the critics probably won’t solve the issue (Swift 2467). Second, he says, â€Å"whose sole subsistence put into a commonShow MoreRelated Kurt Vonnegut Essay2033 Words   |  9 Pagesfor anything by anybody, Vonnegut is suggesting that a good meaning for life might simply be to be useful (Vonnegut, Sirens, 310). The theme and plot of meaninglessness and uselessness mirror Vonneguts experiences in the aftermath of Dresden (Amer. Lit. Bio., 301, 303-304). God Bless You, Mr. Rosewater also exhibits elements of Vonneguts take on technology and existentialism in plot and theme. The protagonist, millionaire Eliot Rosewater, gives up the life of riches and comfort to live inRead MoreSecrecy Of A Free And Open Society2031 Words   |  9 Pagesintelligence and saves all some time. That goes for you as well General. Noted, your honor. 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(1962), â€Å"Teorlia iadra v igre n lits, Vestnki Leningrad University,† Mathematics, Mechanics, Astronomy, 13, 141–2. Buchanan, J. and Tullock, G. (1962), The Calculus of Consent, Ann Arbor: University of Michigan Press. Champsaur, P. (1975), â€Å"How to Share the Cost of a Public Good?†

General Power of Attorney Free Essays

My Agent shall have full power and authority to act on my behalf. This power and authority shall authorize my Agent to manage and conduct all of my affairs and to exercise all of my legal rights and powers, including all rights and powers that I may acquire in the future. My Agent’s powers shall include, but not be limited to, the power to: 1. We will write a custom essay sample on General Power of Attorney or any similar topic only for you Order Now Open, maintain or close bank accounts (including, but not limited to, checking accounts, savings accounts, and certificates of deposit), brokerage accounts, retirement plan accounts, and other similar accounts with financial institutions. a. Conduct any business with any banking or financial institution with respect to any of my accounts, including, but not limited to, making deposits and withdrawals, negotiating or endorsing any checks or other instruments with respect to any such accounts, obtaining bank statements, passbooks, drafts, money orders, warrants, and certificates or vouchers payable to me by any person, firm, corporation or political entity. b. Perform any act necessary to deposit, negotiate, sell or transfer any note, security, or draft of the United States of America, including U.S. Treasury Securities. 2. Sell, exchange, buy, invest, or reinvest any assets or property owned by me. Such assets or property may include income producing or non-income producing assets and property. 3. Purchase and/or maintain insurance and annuity contracts, including life insurance upon my life or the life of any other appropriate person. 4. Take any and all legal steps necessary to collect any amount or debt owed to me, or to settle any claim, whether made against me or asserted on my behalf against any other person or entity. 5.Enter into binding contracts on my behalf. 6. Exercise all stock rights on my behalf as my proxy, including all rights with respect to stocks, bonds, debentures, commodities, options or other investments. 7.Maintain and/or operate any business that I may own. 8.Employ professional and business assistance, as may be appropriate, including attorneys, accountants, and real estate agents, for my personal or business affairs. 9. Sell, convey, lease, mortgage, manage, insure, improve, repair, or perform any other act with respect to any of my property (now owned or later acquired) including, but not limited to, real estate and real estate rights (including the right to remove tenants and to recover possession). This includes the right to sell or encumber any homestead that I now own or may own in the future. 10. Prepare, sign, and file documents with any governmental body or agency, including, but not limited to, authorization to: a. Prepare, sign and file income and other tax returns with federal, state, local, and other governmental bodies. b. Obtain information or documents from any government or its agencies, and represent me in all tax matters, including the authority to negotiate, compromise, or settle any matter with such government or agency. c. Prepare applications, provide information, and perform any other act reasonably requested by any government or its agencies in connection with governmental benefits (including medical, military and social security benefits), and to appoint anyone, including my Agent, to act as my â€Å"Representative Payee† for the purpose of receiving Social Security benefits. 11. Transfer any of my assets to the trustee of any revocable trust created by me, if such trust is in existence at the time of such transfer. 12. Subject to other provisions of this document, disclaim any interest, which might otherwise be transferred or distributed to me from any other person, estate, trust, or other entity, as may be appropriate. However, my Agent may not disclaim assets, to which I would be entitled, if the result is that the disclaimed assets pass directly or indirectly to my Agent or my Agent’s estate. This Power of Attorney shall be construed broadly as a general Power of Attorney. The listing of specific powers is not intended to limit or restrict the general powers granted in this Power of Attorney in any manner. Any power or authority granted to my Agent under this document shall be limited to the extent necessary to prevent this Power of Attorney from causing: (i) my income to be taxable to my Agent, (ii) my assets to be subject to a general power of appointment by my Agent, or (iii) my Agent to have any incidents of ownership with respect to any life insurance policies that I may own on the life of my Agent. How to cite General Power of Attorney, Essay examples

Firm Resources Capabilities - Conditions in Strategic Decision

Question: Discuss about the Firm Resources Capabilities,Conditions in Strategic Decision. Answer: Aim: The objective of this report is to develop the framework which helps in identifying the resources, capabilities, and internal analysis to take strategic decision for improving the performance of the organization. Background: Entrepreneur search for the opportunities arises due to market friction, uncertainty, technological advancement, and etc. to remain ahead of their competitors. The entrepreneur built strategy by analysing the interaction with customers, firms, and technologies (Wadhawani, 2017). The trial and error process is used for solving the complex task. The knowledge should be acquired of the dynamic process instead of static process. The demand of the product is influenced by advertisement of the product (Anderson, 2016). Spontaneous ordering is come into process when the interaction of the entrepreneur increases with the market activities. The value of the product is measured in terms of its performance and popularity among the customers. The accumulation of organizational process helps in determining the resources and the capabilities of the product. The process of strategic management helps in determining the position and characteristics of the organization among its competitors. The selec tion of the strategy plays an important role for determining resources, capabilities, and condition of the internal firm for taking strategic decision for enhancing the performance of the organization. The internal analysis helps in bringing the differences in the process by formulating strategies implemented in the curriculum of the enterprise. The capabilities of the organization can be measured in terms of integration, making strategic decision, building of alliance, product development, building relationship, and development of technology. It has been analysed the resources of the organization are categorized into two sub-category which are named as Tangible resources and Intangible resources. Tangible resources are defined as the assets which can be seen, touched, feel, and measured. Product, equipment, manufacturing unit, and formal reporting structure are some of the example of tangible resources. The intangible resources are defined as the assets which are the base of the or ganization and they cannot be physically touched but only feel. Copyrights, patents, trademark, and unique pattern of routine are some of the example of intangible resources. The role of the entrepreneur is to find the strategic value of the tangible and intangible resources of the organization. The strategic value of the organization can be defined as the degree to which the core-competencies of the organization have been developed to enhance the performance of the organization. The systematic management of the resources and capabilities helps in attaining competitive advantage (Perera, 2012). The capacity of the organization to integrate the desired result is called as capabilities. The figure below shows the value chain model for the organization. Literature Review: From the research and analysis, it has been studied that the strategic analysis of the firm is depends on resource based view and market based view. Resource based view is the fundamental aspect of strategic decision for knowing the heterogeneity of the organization in terms of resources and capabilities of processes implemented within the enterprise (Grand, 2011). Market based view reveals the information related with the industrial factors which are responsible for competitive advantage. The sustainability is the major focus of the market based view. The cluster of resources helps in creating sustainability in achieving competitive advantage. Joint and collective action helps in upgrading the potential of the organization (Evaldo, 2009). It has been researched that there are four empirical indicators which helps in the generation of potential in competitive advantage which are categorised as value, inimitability, rareness, and non-substitutability. Resources are categorised as assets, organizational processes, capabilities, attributes, knowledge, and information (Rose, 2010). These resources help in the development of strategic plan which in turn helps in improving and enhancing the performance of the organization. The effectiveness of the strategic plan helps in keeping the organization ahead of their competitors. Human resource management and organization performance together helps in measuring the attributes of the employees, utilization, perception, rating, and participation (He, 2012). The strategic relationship helps in strengthening the human resource management system. Past studies give the clear picture of the relationship between resources of the organization, capabilities, resources, and competitive advantage. It has been found that the organization capabilities depend on the relationship between organizational resources, and competitive advantage. Value and quality are the pillars for improving the performance of the organization (Ismail, 2012). The value and quality are described in terms of cost, product, and services. The parameter of cost helps in enhancing the performance of the organization and keeps it ahead of their competitors. The performance of the firm can be enhanced by giving emphasis on flexibility of the product, accessibility, and reliability (Tim, 2008). The attention should also be given on tangible and intangible perspective of the resources. The resources are categorised as financial, physical, human, and experiential. The capabilities of the organization can be measured in terms of integration, making strategic decision, b uilding of alliance, product development, building relationship, and development of technology. It has been researched that there are three factors which are responsible for attaining sustainability in competitive advantage which are categorised as cluster specific factors, firm specific factors, and country specific factors. The figure below shows the strategic analysis for sustaining competitive advantage: The relationship between resources, capabilities, system, and internal analysis helps in remaining ahead of the competitors. The VRIO framework is used to measure the internal analysis of the organization. The VRIO framework is composed of valuable, rare, inimitable, and organized (Kor, 2011). The resources of the VRIO framework help in identifying the competitive position. The table below shows how the performance of the organization depends on valuable, rare, inimitable, and organization factors. Valuable Rare Imitate Organization Competitive advantage Performance No -- -- Yes Competitive disadvantage Below Normal Yes No -- Yes Competitive Parity Normal Yes Yes No Yes Temporary competitive advantage Above Normal Yes Yes Yes Yes Sustained Competitive advantage Above normal Methodology and Data: The research was conducted on Malaysian manufactures in 2017. The questionnaire was structured for obtaining the responses of the manufacturers to make the cross sectional study. This questionnaire is the study of the past for developing modification, combination, and extension on the organizational resources. The measurement of the competitive advantage is the score obtained from the responses given on the questionnaire. The main element of this questionnaire is cost, product, design style, packaging, product quality, services provided to the customers, technical support, and delivery speed. The organizational resources are measured in terms of financial resources, physical resources, machinery and equipment, experiential resources, and human resources. Interval scale is used for measuring the capabilities of the organization. The capabilities of the information depend on human resource training program, product development capabilities, and lastly, relationship building program (Sa khdari, 2016). The 10 items are used for measuring the performance of the organization which includes team work approach, logistic efficiency, company objective, policy and process, company procurement, networking, activities, procedures, manufacturing experience and reputation, and the relationship with suppliers and customers. The study includes 200 manufacturers which are randomly selected without putting any restriction on them. 135 manufacturers actively participate to give response to the questions asked in the questionnaire. The response rate of the questionnaire was 13.5%. Resources, capabilities, and system are the three variables which are used in the study of competitive advantage. The method helps in providing solution to some of the potential problems which are faced by the organization. The graph below shows the relationship between dependent variables and competitive advantage. The result of the pilot study was 7. It has been analysed from the questionnaire that: The positive relationship should be developed between resources, capabilities, and competitive advantage of the organization. The positive relationship should be developed between enterprise resources and competitive advantage. The positive relationship should be developed between capabilities of the organization and competitive advantage The positive relationship should be developed between system, process, procedure, and competitive advantage. Research Questions: What is the meaning of internal analysis of the organization? What is the relationship between resources and capabilities? What is the relationship between tangible and intangible resources with capabilities? What is the meaning of core competency? What framework is adopted by the organization for identifying resources, core competency, and capabilities? What is the meaning of competitive advantage Work Plan: Conclusion: Past studies give the clear picture of the relationship between resources of the organization, capabilities, resources, and competitive advantage. The performance of the firm can be enhanced by giving emphasis on flexibility of the product, accessibility, and reliability. The demand of the product is influenced by advertisement of the product. Spontaneous ordering is come into process when the interaction of the entrepreneur increases with the market activities. The organizational resources are measured in terms of financial resources, physical resources, machinery and equipment, experiential resources, and human resources. The strategic value of the organization can be defined as the degree to which the core-competencies of the organization have been developed to enhance the performance of the organization. References: Evaldo, J. (2009). Strategic resources and sustainability of competitive advantages in industrial clusters: Towards the general analytical framework.International journal of project management, [online] 19(23). Available at: https://www.anpad.org.br/admin/pdf/ESO2196.pdf [Accessed 5 Mar. 2017]. Rose, R. (2010). A review on the relationship between organizational resources, competitive advantage and performance, [online] 5(3). Available at: https://www.sosyalarastirmalar.com/cilt3/sayi11pdf/rose_haslinde_ismad.pdf [Accessed 5 Mar. 2017]. Ismail, A. (2012). The relationship between organizational resources, capabilities, system, and competitive advantage. Asian academy of management journal [online] 5(3). Available at: https://web.usm.my/aamj/17.1.2012/aamj_17.1.8.pdf [Accessed 5 Mar. 2017]. Kor, Y. (2011). Resources, capabilities, and entrepreneurial perception. 1st ed. [ebook] Available at: https://pdfs.semanticscholar.org/7af1/71ddab9b9fc5e6fa6b920cce6c6d553be441.pdf [Accessed 5 Mar. 2017]. He, J. (2012). Firm capability, corporate governance and competitive behaviour: a multi-theoretic framework. International journal of strategic change management [online] X(Y). Available at: https://www.business.illinois.edu/josephm/Publications/He_Mahoney_Wang_IJSCM.pdf [Accessed 5 Mar. 2017]. Anderson, J. (2016). Resource organization and firm performance- How entrepreneurial orientation and management accounting influence the profitability of growing and non-growing SME. International journal of Entrepreneurial orientation and management [online] X(Y). Available at: https://his.diva-portal.org/smash/get/diva2:928392/FULLTEXT01.pdf [Accessed 5 Mar. 2017]. Grand, S. (2011). Building strategizing capabilities in entrepreneurial firm. 1st ed. [ebook] Available at: https://www.druid.dk/conferences/nw/paper1/grand.pdf [Accessed 5 Mar. 2017]. Wadhawani, D. (2017). Historical changes and competitive advantage of the firm. 1st ed. [ebook] Available at: https://www.hbs.edu/faculty/Publication%20Files/17-052_ce716f44-7adb-40d3-9755-bb311f04c9e8.pdf [Accessed 5 Mar. 2017]. Sakhdari, K. (2016). Corporate entrepreneurship: A review and future research agenda. 1st ed. [ebook] Available at: https://timreview.ca/article/1007 [Accessed 5 Mar. 2017] Tim, M. (2008). Strategic management of the small firms. 1st ed. [ebook] Available at: https://www.cemi.com.au/sites/all/publications/Mazzarol%20SEAANZ04%20paper.pdf [Accessed 5 Mar. 2017]. Perera, H. (2012). Importance of managing intangible assets in enhancing dynamic capabilities of firms. 1st ed. [ebook] Available at: https://journals.co-action.net/index.php/aie/article/view/17292 [Accessed 5 Mar. 2017].

Maverick Lodging Case free essay sample

The balanced scorecard has several attributes, such as tracking financial performance, tracking nonfinancial measures and communicating franchisees and owners objectives of growth. For financial performance, according to Exhibit 7, the Maverick Courtyard has 3. 77% growth rate, Maverick Fairfield Inn has 2. 2% growth rate and Maverick Residence Inn has 3. 5% growth rate. For flow-through flexible budget, both Maverick Courtyard and Maverick Residence Inn have good score while only Maverick Fairfield has unexpected score. As a result, the financial performance is generally good for the company. However, nonfinancial figures indicate the company’s customer service quality is declining. According to guest-satisfaction score in Exhibit 7, all three hotels’ scores are lower than market average scores. The company has higher comprehensive audit performance than last year’s and employee turnover is decreasing. Although the company has some unexpected performances, it develops well in year 1999. Analysis of Maverick’s value-added proposition Maverick lodging companys objectives are increasing operating profit and market shares by enhancing customer satisfaction. We will write a custom essay sample on Maverick Lodging Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page By implementing the balanced scorecard, the company is trying to increase financial yield, control profit and flexible budget, improve internal business control, stimulate performance of hotel management, facilitate communication between principals and agencies and start learning and growing processes. However, the balanced scorecard has several problems and makes it hard for the company to reach its goals. The first problem is that the balanced scorecard is hard for hotel level managers to understand. Although Baum tried to make it easier to understand, the scorecard still has many elements and some of the financial figures and complicated measurements are hard for entry-level managers to understand. For example, the colors and points system is complex because it is difficult to connect colors and points to the bonus points and the 40% multiply factor may cause managers confusions. Since it is hard to understand, the scorecard would have problems on acceptance and the implementation process would be difficult. As a result, the scorecard would not reach the maximum effectiveness and efficiency. The second problem is that the scorecard contains uncontrollable factors for managers. For example, managers performance will be measured by comparing the budgets and actual expenses. However, hotel level managers have no right to determine the budget and this measurement is unfair. As a result, many managers would be reluctant to accept the scorecard. The third problem is that the scorecard is only implemented at the hotel-general-management level. As stated in the case, the hotel-general-management is the last level of the company management and they have no right to discuss the components of the scorecard. In addition, the implementation process lacks communication between different levels of managements. As a result, the scorecard represents the top managements thoughts and may not be suitable for the bottom level management. Also, the lack of communication may cause hindrance for accepting and implementing the scorecards. Flow-through Flexible Budget The company applies the flexible budget in order to achieve target budget and generate high profit. The top management of the Maverick Lodging set the original budget at first. After one fiscal year of operating, the management gets the actual data of revenue and expense. The management would then make reforecast target, which is the flexible budget, to measure the performance of each hotel. For the variable costs and the variable revenues, the company uses drivers and actual quantity to determine the value of flexible budget. However, the fixed elements and the uncontrollable expenses stay the same as original budget. After the calculations, the company can acquire controllable profits and house profits for both actual and flexible budgets. Based on the results, top management calculates the percentages of actual controllable profit divided by reforecast controllable profit. According to Exhibit 3, the company firstly determines whether the performance is low, base or high by viewing house profit percentage. House profit percentage that is lower than 90% indicates low performance, 90%-105% indicates basic performance and higher than 105% indicates high performance. After determine level of performance, the company uses the flexible budget controllable profit percentages to determine the color rankings of managers. Changes for Balanced Scorecards According to the analysis above, the scorecard does not align with the company’s overall objectives. As a result, the company can make some changes to modify the scorecards. Firstly, the company should simplify the scorecards procedure to help managers understand and increase acceptance. For example, the company should delete the color and points system, and add some straightforward methods to determine the managers’ performances. Secondly, the company should eliminate the uncontrollable factors in scorecards. For example, budget comparison should be deleted because bottom level managers have no right to determine the original budgets. Another way to solve this problem is to let bottom level managers plan for their own budgets so that they have the power to determine the original budget. In addition, since the customer survey is complicated and time-consuming for customer to fill in, many customers would not complete the survey. As a result, the company should consider simplifying the guest-satisfaction survey in scorecards to attract more attendance for the survey. The third alternative the company can take to change the scorecards is to let all level managers discuss the properties of the scorecards and implement the scorecards measurements in all level managers. Since the bottom level managers cannot determine the components of the scorecards, the acceptance and implementation process would be difficult. The scorecards process would be fairer if all level managements apply the same measurements.

ATV essay essays

ATV essay essays The all terrain vehicle has been around for many decades. It has many different models that are used by a variety of people, these types are utility, sport, and youth. The utility four wheeler was the first ever made although it wasnt a four wheeler at all it was actually a three wheeler. The first atv ever made was used as a farm vehicle for hauling and moving other equipment. The three wheeler became popular but didnt last long because of its tendency to flip easily. The best way to fix the problem was to add another wheel, making the four wheeler the first ever made; it was also used for farming; it was in the market for equipment and was never meant to be sold as anything but for hauling and towing. The utility four wheeler started out as a small engine, small framed and very uncomfortable for the rider. As years past the utility four wheeler became as well known on the farm as a tractor. It moved from a small 90 cc engine to the now popular 650 cc engine. It also evolved from the stiff single shock suspension to the all around independent wishbone suspension. The utility atv has helped the farmer and working man make the tasks outdoors much easier and will continue to become The sport atv has been around for about a decade and a half. As most inventions happen, they start out being used for what they were made for, then the people that say, Well what if?, get a hold of them and modify them so it can do something else. The sport four wheeler wasnt made factory in the beginning because that wasnt what the four wheeler was made for. If you wanted to race your atv in the early 80s you had to make it race worthy yourself. After the sport caught on however the manufactures decided to make some money and build a four wheeler that didnt have to ...

Consumer Behaviour in Malaysia Essay Example | Topics and Well Written Essays - 1250 words

Consumer Behaviour in Malaysia - Essay Example (Ndubisi 2006, p17) In order to be able to take advantage of opportunities and establish strong chance at competition in Malaysia, Australian exporters should be able to understand the dynamics of the country’s consumer market because Malaysian consumers differ significantly from those in Australia. An understanding of consumer behavior, particularly, can make a difference since it impacts purchasing behavior and, therefore, marketing decisions as well. In addition, the diffusion of trends such as technological and economic is also crucial to penetrate the Malaysian market. Culture and Consumer Behavior The relationship between consumers and consumer goods is driven by several variables. Culture is one of the most important of such. McCracken’s model, which explained the movement of cultural meaning, identify possession ritual, exchange ritual, grooming ritual and divestment ritual as what dictates individual consumer behavior in the process wherein meaning is construct ed, structured and transferred in the flow of consumer goods. (Schiffman et al 2009) Ritual is the key concept at work here. Consumption becomes a symbolic activity typified by steps, behaviors and actions that became constant, occurring repeatedly over time. This underscores how culture impacts consumers. Consumer products are symbols that represent what the consumers value in products and services or what the marketers communicate as value for the buyers. Karahana, Evaristo and Strite also explained how culture impacts behavior through their own theoretical model of culture’s influence on behavior. Here, behavior is driven by attitude and social norms, variables that are produced by cognitive beliefs, cultural practices and values. (p8) Pecotich and Schultz conducted a review of studies on consumer perception on brands in Malaysia. It was found that Malaysians display specific characteristics in their attitude towards products. Specific examples were provided. For instance, in brand selection on electrical products, Malaysians were found to be motivated by the perceived best brand, favoring prestige over a product that is simply thought of as efficient or works well. (p426) This is also congruent to the tendency of Malaysian consumers to patronize celebrity-endorsed products and their loyalty to brands. According to Kacen and Lee (2002), impulse consumer buying behavior now accounts for up to 80% of all purchases in some countries and that culture plays a part as consumers engage in sudden, compelling, hedonically complex purchase decision process that precludes thoughtful, deliberate consideration of all information and choice alternatives. (p163) The argument is that culture tempers impulsive buying. This is highlighted in Malaysia by the Islamic subculture, which in turn can best be depicted through the concept of halal. In Malaysia, halal, which means what is permitted, is the norm in Islamic consumption. Consumers and their consumption are subjec t to institutionalization regulated by the Ministry of Domestic Trade and Consumer Affairs. Fischer (2008) explained that halal informs and controls ideas and practices such as wearing of gold and ornaments, wigs and hairpieces; paintings; photographs, keeping of dogs; cleanliness;

Modern Art Movement in Russia Essay Example | Topics and Well Written Essays - 2750 words

Modern Art Movement in Russia - Essay Example The essay "Modern Art Movement in Russia" investigates Russian modern art movement. Modernism thus, broadly defined all the significant social changes pertaining to arts, culture, literary writings, architecture, and religious beliefs that rebelled against the theory of realism and all other conservative traditions, which took place at the turn of the nineteenth century. The proponents of this theory felt that all traditional forms of art, architecture, religious and social norms were losing relevance in the modern industrial age, and thus must be changed. Modernism to some extent rejected the philosophy of Enlightenment, and completely denied the existence of the powerful creator, God. It questioned all the theories of the past era, and believed in the theory of self consciousness. It is this belief that led to various experiments in the field of art and led to the formation of what is known as ‘abstract art’. In Russia, this wave of modernism in the world of art, is al so known as avant-garde, and it broke away from all traditional and old forms, creating a new style that was more connected to the daily lives of the common people, encouraging works on folk art and icon painting. Till the 1910s, the Russian avant-garde movement focussed itself primarily on village life, religion, urban life; but later on as social movement became more oriented towards bringing about reforms for the industrial workers, the Russian avant-garde artists moved towards the factory settings and the frantic pace of the urban lives.

Globalization and Feminism Essay Example | Topics and Well Written Essays - 2000 words

Globalization and Feminism - Essay Example The effects of globalization on the theories of feminism establish the relationship between the capital and gender, exploitation of the women workforce. Feminism has played a significant role in the process of globalization and economic progress all over the world. From the perspective of feminism, the phenomenon of globalization has led to the discrimination of gender in terms of control over capital and resources (Hawkesworth, 2006, p.37). The male sections of the society has dominated and gained control over the majority of resources, opportunities of livelihood and employment. There are, however, instances where the women have been able to grab the opportunities in the course of economic progress, a major section of the women labour force have lost control over their work in the process of globalization. Women have obtained job opportunities in the skilled areas of Information Technology, Computer software, etc, the semi and unskilled women labours, agricultural workers have lost their occupation to the forces of globalization. Discussion: globalization and feminism The theories of feminism are based primarily on two basic assumptions. ... On one side, when the increase in participation of women in the labour force have created job opportunities and provided a means of livelihood and independence to women, the women on the other hand has also been subjected to discrimination and humiliation. The women in the Middle-East are hired as working maids for the families in order to support the homemakers of the family. Thus the engagement of a woman labour for the help of another woman is an act of exploitation (Sarkar, 2007, p.5). The rise in the income level of the families due to the phenomenon of globalization has provided jobs to the women section of the society and at the same time increased their possibility of exploitation apart from providing them economic freedom. Globalization has produced new discourse in various field of occupation. The involvement of several sections of the society has produced new instances in the field of politics. The feminists believe that the phenomenon of globalization has not been able to produce a condition of equality among the men and the women. There have been various landmark initiatives in the political course of action like the increase in the number of women representatives in the parliament, activities for ensuring women rights, education and livelihood for women, etc. Although the economic and political scenario has changed in the process of globalization, the exploitation and the discrimination towards women have not changed to a great deal (Beneria, 2003, p.47). The process of globalization is challenged by the various political and social resistances. The cultural and religious roots of the society could not easily be transformed and the spread of economic activities as globalization

Importance of Cost Reduction and Control

Importance of Cost Reduction and Control Assignment on financial principles and techniques Introduction Strategic investment decision making indicates the process of identifying, evaluating, and selecting among projects which are more likely to have significant effect on the organizations competitive advantage. More clearly, the decision influences what the organization does (i.e., the set of product and service attributes that are offerings of the organization), where it does it (i.e., the structural characteristics that determine the scope and geographical dispersion of organizations operations), and how it does it (i.e., the set of operating processes and work practice).The strategic investment decision making process is arguably one of senior management greatest challenges. It is significantly needed to get these decisions right. If the decision is successful, the firm can enjoy strategic as well as operational advantage. But while the decision proves wrong, either a potential opportunity is lost or it has needlessly spoiled substantial resources (through fruitless investment). Som e traditional approaches to strategic investment appraisals which include payback, accounting rate of return, return on investment, residual income, and discounted cash flow have been criticized on the basis of a number of grounds. Some main criticisms are their narrow perspective, exclusion of nonfinancial benefits, overemphasis on the short-term, faulty assumptions about the status quo, inconsistent treatment of inflation, and promotion of non-value adding behavior. Task 1 Cost Reduction Techniques. Cost reduction means reducing cost associated with production or other cost activities without affecting the quality of product or service as well as activities. Through cost reduction procedures or techniques managers reduce cost. For this they develop different cost reduction techniques. The success of any organization largely depends on how strategically cost is managed compared with that of competitors. It certainly provides competitive advantage which is essential in this hyper competitive market or business world. As the manager is the higher authority of any organization, they are to develop different types of policies and strategies to run the business successfully. Processes of Cost Reduction: Identify the Saving Make your prediction on saving Measure the process prior to adjustment Make the cost saving change Measure the process after Confirm saving has been made and it hasnt impacted other areas to make a loss. If YES move onto next project. If NO go back to the beginning and start again. Appropriate Costing System: Cost that is allocated to units of production can be actual cost or standard cost. In an actual or historical cost system, cost is allocated as they occur. Under standard costing system, product operations and process are costed through using standard for both activities and dollar amount. These standards are predetermined in advance of production. The actual cost system and standard cost system can be used with either job order or process cost accumulation approaches. Job order costing is applied to job order work in factories, workshops and repair shops as well as to work by builders, construction engineers and printers. A variation of the job order cost method is that of costing orders by lots. In the shoe manufacturing companies for example, a contract is typically divided into lots which consists of 100 to 250 pairs of one size and style of shoe. The cost is then accumulated for each lot. On the other hand, the process cost system is applied to industries such as flour mills, br eweries, chemical plants and textile factories. However there are many companies that use both job order and process costing according to their needs. The basic difference between job order costing and process costing is the breadth of the denominator. The denominator of job order costing system is small (e.g.: one painting 100 advertising circulars, one special package machine or one highway bridge). But in the case of process costing, the denominator is large (e.g.: thousands of pounds, gallons or board feet.). Task 2 The importance of developing cost reduction techniques: It helps to enhance management performance or efficiency It helps to know the nature of cost It helps to reduce the cost of operations of the organization It helps to set competitive price of product or service It helps to increase market share in the industry It helps to increase profit or return It helps to enjoy competitive advantage over competitors Proposed costing and pricing systems Basis of Costing Methods Material cost Labor cost Overhead cost Opportunity cost Structure of Costing Costing principles and methodology Fixed and variable cost Direct cost (material and labor) Indirect cost (overhead and activity based costing) Product cost and periodic cost Product cost and sales cost Actual Costing To set actual cost To change to actual cost To analyze variance Evaluation of Project Breakeven analysis Marginal contribution Opportunity cost Payback NPV,DCF, IRR ROI ROC Project Case Pricing How to cost project correctly How to get project approve What cost to exclude Essential cost to include A business case proposal Preparing a Master Budget Master budget is a comprehensive planning document which incorporates several other individual budgets. The operation budget consists of eight individual budgets which are as follows: Sales budget: The sales budget shows the expected sales in units at their expected selling price in a certain period of time. A business firm generally prepares the sales budget for a given period of time on the basis forecasted sales level, production capacity, as well as long and short term goals. Production Budget: Production budget is a plan for obtaining the resources needed to carry out the manufacturing operations of the organization to meet up the expected sales and maintain the expected level of ending inventory. The current production level depends on sales level, units of finished goods ending and beginning inventory. Direct Material Budget: The directed material budget shows the direct materials business firm needs for its production and the budgeted cost. This budget is very much related to production budget. Direct Labor Budget: To prepare direct labor budget and the direct materials budget, production budget is needed. It helps personnel department of the organization to plan for new hires and repositioning of employees. A good labor budget is very helpful for a business firm to avoid urgent hiring and help to prevent the shortage of labor. Factory Overhead Budget: This budget includes all the production costs except for direct materials and direct labor budgets. Manufacturing cost is the cost that varies in direct proportion with the manufactured units and how the business firm carries out its operation. Selling and administrative expenses budget: This type of budget indicates a plan for all non-manufacturing expenses. This budget provides you with a guideline for selling and administrative activities for the period of your budget. Budgeted income Statement: Budgeted income statement is the last part of operational of a master budget. It actually estimates the expected operating income from budgeted operations in a certain period of time. The second part of master budget includes financial budget and financial budget is the combination of following two individual budgets: Cash Budget: A cash budget shows the effect/impact of all the budgeted activities on cash. Through preparing a cash budget, the management of a business firm is supposed to be able to make sure that they have sufficient cash on hand needed to carry out activities. It also helps them to have enough time to plan for any additional financing and plan for investment of surplus cash. Budgeted Balance Sheet: Budgeted balance sheet is the last part in preparing master budget. This budgeted balance sheet shows the expected financial position at the end of the fiscal year (at a point of time) or budget period. It is very important to understand how to prepare a master budget since it helps a business to maximize its profit/return and to have a good handle on their budget period. Potential for the Use of Activity Based Costing ABC system provides highly accurate product or customer cost that a company can use for strategic decision. This system helps to understand the cause effects relationship between day to day activities and product or customer cost and theory aids the operational control purpose of cost management system. Task 3 Calculation of ratio Ratio analysis of Amber Lights ltd for two years is as follows: Last Year a) Return on capital employed = Net Profit/Total capital = 8000/109000 = 7.34% b) Return on ordinary shareholders fund = Net profit/ ordinary shareholders fund =8000/16000 =50% c) Gross profit margin = Gross profit/Net sales = 92000/350000 =26.29% d) Net profit margin = Net profit/Net sales =8000/350000 =2.29% e) Current ratio = Current asset/current liabilities =110000/50000 =2.2:1 f) Acid test ratio =C.A-Closing stock/ current liabilities =110-44/50 =1.32:1 g) Average stock turnover period =Cost of sales/Average Inventory =258000/44000 =5.86 times Period =360/5.86 =61.43 days This Year a) Return on capital employed = Net Profit/Total capital = 12000/117000 = 10.26% b) Return on ordinary shareholders fund = Net profit/ ordinary shareholders fund = 12000/16000 =75% c) Gross profit margin = Gross profit/Net sales =110000/420000 =26.19% d) Net profit margin = Net profit/Net sales =12000/420000 =2.86% e) Current ratio = Current asset/current liabilities =136000/92000 =1.48:1 f) Acid test ratio =C.A-Closing stock/ current liabilities =136000-63000/92000 =.79:1 g) Average stock turnover period =Cost of sales/Average Inventory =310000/63000 =4.92 times Period =360/4.92 Analysis of Operating Efficiency and Profitability The given ratio of Amber Lights ltd. indicates two types of ratio including operating efficiency and profitability. The operating profitability ratio indicates that return on capital employed ratio of last year is 10.26% and this year is 7.34%, return on ordinary shareholders fund ratio of last year is 50% and this year is 75%, gross profit margin of last year is 26.29% and this year is 26.19%, on the other hand, net profit margin ratio is 2.29% and this year is 2.86%.So we can say from the above discussion that operating profitability of two year is very close except ordinary shareholder fund. So this year performance is better than last year. We also see from the operating efficiency ratio that current ratio of last year is 2.20:1 and current year is 1.48:1, acid test ratio of last year is 1.32:1 and current year is .79:1, and average stock turn over period of last year is 61.43 days and this year is 73.17 days. From the given data of last year and the current year of Amber Lights ltd we find that last year performance is better than this year. So from the given data analysis we can say that last year operating efficiency was better than that of current year. Limitation of Ratio Analysis: Although ratio analysis provides important implications, there are some limitations of ratio analysis. The main limitations of ratio analysis are given below: Accounting treatment varies between firms Firms with different divisions operating in different industries make it difficult to find industry ratio analysis Some Results may be in consistent Ratios which are outside an industry range might be cause of much concern. Task 4 Financial Appraisal Methods There are several different appraisal methods and each of those methods has its particular applications, advantages and drawbacks. Simple Payback This is one of the simplest and widely recognized methods of cost/benefit analysis. Payback period is defined as the length of time required to recover the original investment on the project, through cash flows. The cash flows include operating profit, less income tax payable, plus depreciation. Internal Rate of Return It can be said that it is the mostly used method for the financial evaluation of a companys investment. The internal rate of return (IRR) can be defined as the rate of return required to make the present value of future cash flows plus the final market value of the investment, equal to the current market price for the investment. Actually it is a discount rate making the net present value equal to zero. Average Rate of Return The average rate of return is calculated profit after tax divided by book value of investment. Under this method, the entire life of any project is considered. Net Present Value Net present value is one of the discounted cash flow techniques. This method considers time value of money. It is calculated as present value of future cash inflows over the life of the project less present value of cash outflows. Benefit Cost Ratio Benefit cost ratio is another version of net present approach. Under this approach, the benefits from the project are reduced to their present value at a specified rate of discount and this figure is divided by the present value of the cost of the project. Discounted Cash Flow This approach actually represents what a company is willing to pay at the present (today) to receive anticipated cash flow in future years. So it is a process of converting future earnings into todays money. Future cash flows are discounted to demonstrate their present values and determine the value of the project. These are well established and understood appraisal tools to financially evaluate projects. All appraisal methods are not supposed to provide the same result. Increasingly, with the creation of stakeholder value being determined by an organizations environmental and social policies and values, new criteria and perspectives will have to be factored into organizations decision-making process. Strategic Issues in Making Investment Decisions The prime objective of every business organization is to make money for the owners now and in the future. Investment decision plays a significant role in making investment decisions. Both quantitative as well as qualitative issues must be considered in decision making. Short-term decisions are relatively easy on the quantitative side: Would you rather spend $10,000 or $15,000 given the same revenue? Would you rather sell something for $5.00 per unit or $7.00 per unit given the same costs? Would you rather have net income of $60,000 or $50,000? Long-term (investment) decision involves two additional dimensions as follows: Timing Magnitude Discounted Cash Flow Analysis addresses the timing issue. Discounted Cash Flows (DCF Analysis) A dollar today is worth more than a dollar in the future. A dollar in the future is worth less than a dollar today. Steps to DCF To determine future cash flows To determine the appropriate discount rate Higher discount rate = lower present value Lower discount rate = higher present value High risk generally requires greater return Higher risk = higher discount rate Discount the future cash flows by using the selected hurdle rate Compare the present value of the future cash flows to the investment If PV of inflows > PV of outflows, project is acceptable If PV of inflows < PV of outflows, project is rejected NPV = PV of all Inflows PV of all outflows Tools of DCF: PV = to compute the present value of single future amount or a set annuity using a given particular discount rate FV = to compute the future value of a single present amount or a set annuity given a particular discount rate Rate = to computes the particular discount rate needed to convert a present value to a future value or a future value to a present value NPV = to computes the net present value of a series of dissimilar future cash flows given a particular discount (hurdle) rate If NPV > 0, the investment is acceptable If NPV < 0, the investment is rejected IRR = computes the discount (hurdle) rate which makes net present value equal to zero. If IRR > the hurdle rate, the investment is acceptable If IRR < the hurdle rate, the investment is rejected Example: Suppose, company XYZ wants to make investment decision of $ 200000 for a project. The company must justify the PV of cash inflows and compare it with the cash outflows. If the value of PV is greater than cash outflow then the company should accept the project. Conclusion: Cost concept is very essential for decision making process. As the manager is the higher authority of any organization, they are to develop different types of policies and strategy to run the business successfully. So development of cost reduction procedures is one of the most important strategies. It is very important to develop cost reduction procedures because it increases the profit of the firm through reducing cost of production. If the manager cannot control cost their operating expense will be higher and higher and therefore reducing the profit of the firm. A firm which can not control cost cannot sustain in the competitive business world. So to make proper investment decisions financial managers should have clear knowledge about financial principles and techniques for better performance.

The beginning :: essays research papers

During my childhood and adolescent years I grew up in very small town. I can remember thinking that I knew everyone and that everyone knew me, and if the truth were known, the majority of them did. I guess this is where you could say that my memories of literacy began. As a child I can remember myself, and many other members of my community not having the literacy skills that most of those who visited or passed through our town did. The folks that passed through were proper whereas those of us who lived in the town seemed as if we had never been outside of our little town, ever. You hear people joke about using words such as: ain’t, won’t to, aren’tcha, and so forth. Well, those were actual words used on a day-to-day basis in my hometown, and let’s not forget all the double negatives used. As a child I can remember using the same words myself.   Ã‚  Ã‚  Ã‚  Ã‚  It wasn’t until I began to meet people outside of my circle of friends and neighbors that I realized that not only was our town small and living back in the 1950s still, but the majority of our citizens were uneducated adults who did not know any better. I became interested in books at an early age I would say. While all my friends were outside playing in the woods or riding go carts I would be inside looking at Highlight magazines or reading some of the books that my mother had bought for me at a yard sale one Saturday. I can remember the day that my parents bought my sister and I a set of encyclopedias, which came with two bonus sets. One set was a children’s set of encyclopedias and the other was a set of 8-thick, colorful hardback books. My sister and I just sat there as my parents put them in a glass stand that my mother had. One by one the put them in as while doing so they told each of us that inside each book contained many adventures for us to embark upon.   Ã‚  Ã‚  Ã‚  Ã‚  I can remember loving those books so much. I can remember reading them even when I didn’t have to look something up from them in school. There was such a sense of security and safety behind those books that I could look through them for hours upon hours, and then racing to beat my sister at telling my parents what I had read about.