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estructuring isk Management at Honeywell
As a large, multinational manufacturer and distributor of a variety of commercial and consumer products, Honeywell faces a large number of varying risks in its operations. anging from financial risks such as changing exchange rates combined with fixed-price future payments to risks more directly associated with operations such as employee liability and a variety of product flow interruptions, the variety and degree of risk exposure Honeywell has necessitates a comprehensive and careful risk management system and strategy that promotes the control of risks and the mitigating of damages (Case, n.d.). The following pages detail a proposed change in risk management strategy at Honeywell, assessing its objectives, its apparent degree of success in achieving those objectives, and an estimation of the cost difference between the old and new risk management programs, concluding with a recommendation for Honeywell as it moves forward in its risk management…… [Read More]
This is crucial because though the information and knowledge may well have been created or resolved within the organization, this does not in and of itself assure that such knowledge will remain there within or serve to benefit the organization's overall effectiveness. To this end, our research tells that "in today's world of business, companies need to understand the importance of effectively managing their knowledge. Years ago, employees would stay with a company for many years before moving on while many planned upon a lifetime of dedication to their organization. In today's industries, it is not uncommon to find employees who stay no more than three to four years without looking to move on. hen a company loses a skilled employee, they also lose the knowledge that the employee has gained." (Marshall, 3) This is to say that if we, at Honeywell, do not create a system that allows our…… [Read More]
Honeywell's organizational culture emphasizes attention to detail as part of the firm's commitment to excellence, growth, and consumer satisfaction. There are four pillars to Honeywell's organizational culture and the first and foremost is the one that focuses squarely on the employee's need to pay close attention to everything that he or she is expected to do. This includes having leaders who are able to adapt across cultures and be responsive to the complex needs of others who live and work outside the immediate circumference in which the director, leader, manager or lower-level employee is used to operating in (Kelley, 2016, p. 213). This paper will describe how Honeywell's culture and commitment to attention to detail has paid off for the company over recent years, as the firm has succeeded in boosting net income to more than $6.5 billion in the most recent fiscal year (Honeywell Annual Report, 2016).
Organizational culture…… [Read More]
Thus to sum up, the Primus Epic, a modern integrated avionics system created by Honeywell, was along with the Bell/Augusta AB139 on which it was found fit, was then extended to the Primus Epic AW139 for helicopters. The unique feature is that the Primus Epic is a single package that performs a number of integrated functions and the mentionable feature is the display technology and the interactive navigation system. This has condensed a number of flight related activities in a single unit. Landings have been made very safe with the Enhanced Ground Proximity Warning system and there are reports of trails by various pilots which were conducted on many machines from the Cessna and many winged crafts. Particular mention has to be made on the trial on the Augusta Wetland Helicopters - the AW139 which has a special system designed for it and all the capabilities that a helicopter pilot…… [Read More]
The following definitions may be helpful.
Category 1 APUs are installed where in-flight auxiliary power operation is necessary. Category 1 APUs are usually required for essential APU installations. These APUs have been shown to meet all of the test and analysis requirements of the Minimum Performance Standard (MPS) of TSO C77b, Appendix 1.
Category 2 APUs are installed where in-flight APU operation is not necessary (non-essential installations).
Both Category 1 and Category 2 APUs are acceptable for non-essential APU installations. Category 2 APUs are not required to meet all of the test and analysis requirements that Category 1 APUs are subjected to. (See TSO C77b, Appendix 1, for the detailed requirements). (Category 1 and Category 2 APU, 2005). (See Appendix a for another example of an APU)
History (may need something different for this part - raw research) significant early demonstration was of the first liquid-fueled, fuel cell APU on…… [Read More]
Jefferson's Principles and their Impact on Education
Jefferson's radical beliefs in the inherent moral and developmental capacities of humans, and in their capacities to take part to participatory democracy, in turn reinforced his enduring commitment to an education that would be accessible to all. Jefferson was well aware that democracy could only work properly when the people were both virtuous and enlightened.
From these notions that people were naturally virtuous but not naturally enlightened, but that enlightenment was necessary for democracy, it followed that the society had a vested interest in investing in education to provide enlightenment.
In a letter to the Welsh born philosopher Richard Price dated January 8, 1789, Jefferson observed that "wherever the people are well informed they can be trusted with their government."
uch well informed or enlightened people could be relied on, "whenever things get so far wrong as to attract their notice," to set…… [Read More]
Jack Welch Leadership Strategies
Jack Welch is rated as the greatest CEO of the current generation and one of the greatest business leaders of all times. The legendary leader, donned the top post in General Electric (GE) from April 1981 to September 2001, taking the company from mediocre levels to the very top levels, in the process turning the very basic concepts on which businesses were run till then. When he took over the top job as Chairman and CEO in 1981 at a relatively young age, GE had annual revenues of U.S.$25 billion and profits of U.S.$1.5 billion, rated as tenth best among the American public companies.
In year 2001, when Welch finally hung up his boots, GE did sales of U.S.$125.9 billion with profits soaring to U.S.$14.1 billion. During the rather long tenure of almost twenty years, GE delivered dramatic results on many counts. From 1993 to 1998,…… [Read More]
Radio Altimeter effectiveness and CFIT
How can technology be used to effectively diminish CFIT and ALA incidents?
Air travel is one of the safest means of traveling from one location to another in the world. Without air traffic, the business world would come to a screeching halt. Although businesses can transfer mass amounts of digital communications DATA, thus eliminating much of the demand on mail and fax transmissions of just a decade ago, businesses organizations can still not transfer products, mail, personnel, and other hard goods through electronic blips on the internet. Travel still relies on airliners and cargo air-busses which fill the skies around the world and around the clock. The experts are agreed that global commercial air traffic will grow at an average 5% per year over the next 20 years. This means that traffic will double in 15 years and will practically triple by the end of…… [Read More]
controversy is of Zylon® in body armor
The story of the controversy surrounding the use of Zylon® in body armor seems to be a rather predictable tale of the obfuscations of business and government concerning public health and safety, with the expected casualties and penalizing of its whistle-blowers. One of the differences and the many others that have emerged concerning product safety in this post-atomic age is that in this case it has only taken a single death for the biggest name in business to immediately recant and actively pursue some kind of resolution, even if it might not be what its customers would find perfectly ideal.
Zylon® is a fiber filament manufactured by Toyobo, a Japanese firm. It is used in the majority of the most popular bulletproof body armor types, and also in other commercial projects, including flame resistant clothing and equipment. Among the companies using Zylon® is…… [Read More]
Assess Supply Base
The supply base is a function of the airport capacity, specifically the terminal and lanes leased specifically for the use of Aer Lingus jet and air plane usage in addition to the actual supply of jets/planes and the parts used to effectively repair and operate each unit. The supply base is assessed by assessing the supply chain for the airline. The supply chain is a function of all vendors that provide supply to Aer Lingus to maintain operational performance.
Functional capacity is the ability of the supply base to utilize full operating capacity to maximize profit through the efficient use of supply to drive performance. However, the supply base assessment can also be a method to pass-through costs. According to Chandler (2009), "enaud recognizes that it's sometimes a matter of "sanding our folks out to suppliers to help them [avoid] costs." Mike Madsen couldn't agree…… [Read More]
In summary, we recommend that the IESBA reconsiders the proposals in the Exposure Draft and provides more guidance on safeguards applicable to sole practitioners and small accounting firms to ensure that the benefits of the changes outweigh the costs to SMEs. Under a principle-based approach, there should be safeguards and practical relief for all practitioners rather than rules-based outright prohibitions. The rewrite of this Independence component of the Code is substantially rules-based rather than principles-based. In this regard, we also encourage the IESBA to prioritize the redrafting of the entire Code using a similar drafting convention to that used by the International Auditing and Assurance Standards Board in its Clarity project" (IESBA Exposure Draft of Sections 290 and 291 of the Code of Ethics on Independence - Proposed Additional equirements in relation to Internal Audit Services, elative Size of Fees and Contingent Fees 2007).
There will also be an all-time…… [Read More]
This lead was accomplished through a partnership nearly a half-century old among government, industry and academia. I member of that partnership was the National Science Foundation (NSF). As Strawn noted, early on, scientists and engineers at American universities began to join the young APANet, as they worked on basic research funded primarily by the NSF. Acknowledging this, the NSF began supporting national supercomputing centers, in the mid-1980s, as a means of giving American scientists, engineers, and students greater access to high-performance computing that was state of the art, and developed Computer Science Network (CSNET).
Creation of these national supercomputer centers by NSF was critical to the development of the Internet. To further enhance U.S. scientists' access to these centers, NSF established the NSFNET national backbone network that connected the NSF supercomputing centers to U.S. universities. NSF also promoted the creation of regional networks to connect colleges and universities to the…… [Read More]
A survey questionnaire design is employed to gather data to be used in the lazy user model test, with details on the sample population in which the questionnaire is to be administered. An innovative method to increase response rate is offered, followed by a data analysis plan. Finally, a conclusion and recommendation will complete this research project.
2. Literature Review
2.1 Information Technology and the Internet
The Information Age has changed our world in many different areas, from mankind's first steps into the space frontier, to the development of consumer items of convenience. Computers where once virtually inaccessible to the average person, and at that time were used only for information processing and logical calculations on a grand scale for large corporations and military endeavors. Indeed, only in the military did the information age really begin to develop, with the need for advanced military operations driving the information technology race.…… [Read More]
Information about ongoing legal actions is typically disclosed in the annual report. An examination of Cummins' Form 10-K from 2008 reveals that while the company is subject to a wide range of legal risks, there are no major legal actions pending. Referring to environment-related legal actions, the company states that "we do not believe that these lawsuits are material individually or in the aggregate."
At present, there is little indication that Cummins is faced with any significant negative publicity. The company faces some minor environmental lawsuits, which may not be financial material but could generate some negative publicity should the company be found culpable for any impropriety.
Cummins' track record with regards to negative publicity -- or the lack thereof -- is enviable for a multinational country, in particular one with manufacturing operations overseas. Cummins' approach has been proactive. There are hints of the company's…… [Read More]
Opperman's article did a good job of introducing the topic of workplace violence. It helped defuse the myth that some workplaces are immune from workplace violence. In addition, by alluding to the term "going postal" and describing the incident at NASA, Opperman made it clear that federal agencies are very at-risk for workplace violence. In addition, Opperman did a good job of defusing other myths about workplace violence, such as the fact that workplace violence is almost always preceded by very threatening behavior. In that way, Opperman's article was a good introduction to the topic of workplace violence.
However, Opperman's article was seriously lacking in substance. The article's title asks the question "is your agency prepared?" But leaves the reader with no real way to assess whether their workplace is prepared to deal with workplace violence. From the title, the reader expects to see a detailed description of the…… [Read More]
2. Approach Clearances
According to the article, "Back door IF: When stratus happens and you didn't file, you'll need to sweet talk your way into the system. Here are some practical tips to do that safely" (2006 obtaining an IF clearance, literally on the fly, does not constitute not a to be taken for granted privilege.
Approximately 15 years ago, U.S. pilots almost lost a significant portion of this flexibility, when the FAA's legal department proposed procedural changes in FAA Order 7110.65 Air Traffic Control, potentially requiring pilots to request such "pop-ups" to be permitted "to climb under VF to whatever minimum IF, vectoring or en route altitude applied to the area in question" (Back door IF... 2006, ¶ 30).
The proposal additionally extended to particular clearances being withheld; contending that controllers may be held responsible when pilots hit terrain or obstructions at a low altitude. Previously, a pilot was…… [Read More]
Firms under the guidance of individual investors are more likely to take a conservative approach to ethics, since the shareholders may take a greater interest in this 'human' side to investing than a large firm like Fidelity. Also, very simply, if Fidelity or one of the companies in which it concentrates a large share of its ownership experiences financial difficulties is in trouble, then Fidelity, investors in Fidelity mutual funds, and the economy as a whole, can all be harmed far more than if individual investors selected from a wider range of businesses.
On a larger scale, such consolidation also means that there may be less diversity in investing in new companies in general, given that Fidelity likes to concentrate its holdings amongst several large sectors of the economy, in major and well-established firms. Individual investors have less of an opportunity in this investment climate to extend their influence to…… [Read More]
By channeling his energy in another direction, Gates shows that he is not a one-dimensional leader only involved in promoting his company, but a three-dimensional leaders interested in helping the world be a better place. Just one of the programs that has gained media attention is the eradication of malaria, a disease almost non-existent in America but still prevalent in many other parts of the world. Another writers notes, "Malaria strikes 300m people every year, mainly in the farming parts of Africa where mosquito eradication programmes are nonexistent. Of those infected, 1.1m die, most of them children below the age of ten" (Vesely, 2003). The Gates Foundation, along with pharmaceutical companies, are committed to eradicating this, and other diseases such as smallpox, that have been out of control in many other parts of the world, largely due to a lack of funding and support.
Ultimately, Bill Gates leadership style is…… [Read More]
Grasso last year, contending that the $139.5 million payout that Mr. Grasso received in the summer of 2003 was exorbitant and in violation of New York's not-for-profit law, which states that executives at not-for-profit organizations, like the exchange, receive "reasonable" compensation. Mr. Spitzer has said he will seek more than $100 million back from Mr. Grasso. In his complaint, Mr. Spitzer cited the Webb report as crucial to his investigation. But until yesterday it remained confidential. The document describes some of the crucial points made in the complaint, among them that the board was misled about the size of Mr. Grasso's bonuses and that $13 million of his $139.5 million payment was vested when in fact it was not (THOMAS and Anderson 2005).
The antitrust authorities should permit Microsoft to merge with Yahoo because it will be more profitable in the end. This is due to the fact that…… [Read More]
As an environmentally friendly fossil fuel, and a mainstay of much of the world for energy, the natural gas trade is one of huge growth potential. To exploit that growth, BASF has increased pipelines to nearly 2,000 kilometers in Europe, and uses Western Europe's largest natural gas storage facility (BASF, 47). By increasing their pipelines and storage capacity, BASF plans to use this market for even higher future growth.
There can be no question that BASF uses its non-cyclical products as a mainstay of growth, as can be seen through a comparison of the divisions' revenue in 2002. In total, oil and gas sales in 2002 were higher than in any other BASF division (BASF, 46). In comparison, the sales of agricultural products, typically cyclical in nature, were the lowest in the same year (BASF, 43). Additionally, in 2000, BASF announced their intention to increase their market share of non-cyclical…… [Read More]
AlarmForce must make marketing decisions with respect to AlarmFog, a new high-end security product it has developed. AlarmForce has become a market leader in home security through a cost leadership strategy. AlarmFog adds an element of innovation to that strategy, but the manufacturing cost is high. However, there are some new markets that can be developed, in addition to offering AlarmFog as a complementary product to the company's installed base.
The AlarmFog should be priced at manufacturing cost. Matlin is proposing to price well below cost, but such pricing would erode the firm's profits entirely. The fog can be marketed both to new customers such as small businesses and cottage owners, in addition to being offered to current customers. The existing distribution channels and marketing media can be used, as the product is sold and serviced the same way and to much the same customer base as the…… [Read More]
Because of this, I would expect that U.S. Energy would have performed better, but that has not been the case. None of the individual holdings are overly dependent upon energy costs, such as we would see in the airline industry, so the performance of the portfolio does not seem to have been overly affected by the rise in energy prices.
The proper approach to investing involves diversifying, not only across different companies, but also across different sectors of the economy. In a given year, one sector of the economy will be up and another will be down. One-year large cap growth stocks will be up and foreign stocks will be down. The next year real estate will be up and large cap growth may be down. If we knew in advance which sectors would be on top, investing would be easy, but we don't. As a result, diversification across different…… [Read More]
"More to the point," another authority advises, "the objective of a PMO is to establish the procedures, processes, and standards that lead to a Center of Excellence -- not so much for itself as for the projects and organization it supports" (Pohlman, 2002, cited in Thorn, 2003, p. 48).
In this regard, Thorn points out that there are three basic approaches that can be used to establish a PMO to help facilitate the integration of Six Sigma or other management techniques with the CMM:
Project epository -- The PMO serves as the primary source of information on project methodology and standards. It assumes, rightly or wrongly, that the organization has established and follows a cohesive set of tools for project design, management, and reporting. Often a first step in establishing the idea of consolidating or sharing management practices, it still falls short, both in direct project oversight and as a…… [Read More]
building industry. The building industry is a cyclical business based on residential and business construction. The industry has faced several years of constrained demand, despite low interest rates. Two firms within the industry are Eagle Materials (EXP) and Apogee Enterprises (APOG). These two firms will be compared with one another in terms of their finances and their recent news in this paper. First, Eagle will be studied including its key financial ratios and recent news, and then the same treatment will be given to Apogee. The conclusion of the paper will discuss the future of the industry and which of the two firms would make a better investment for someone looking to put money in the building industry today.
The Building Industry
The building industry is a cyclical business based on construction. Both construction firms and their suppliers are part of this industry. The two companies being studied are industry…… [Read More]
CH-47D helicopters. It focuses on five subsections during the development process until the implementation stage. The paper further looks at how the helicopter was developed, how it was developed and its future. Besides, the paper looks at the significance of the helicopter and major issues experienced during the development and how they were overcome.
The Development Process
The department of defense announced in 1956 plans for the replacement of the CH-37 helicopters with an improved edition CH-47D helicopters. This decision was reached after several army aviation corps voted in favor of the creation of helicopters powered by piston engines. In addition, the army corps recommended that the new helicopters be large enough to airlift large military equipment (Spenser, 1998).
Following the army's decision to use bigger and more powerful helicopters, Vertol was contracted to start the design and building of a new tandem-rotor helicopter known as the V-107 in the…… [Read More]
corporations' access to prison labor. Questions: How, why and whom do we imprison? How is money best spent? Five sources. APA.
Corporations and Prison Labor
Most people's familiarity of prison labor comes from the media, particularly from movies. Chain gangs working on railroads or highways can be seen in movies such as 'Cool Hand Luke' and 'O' Brother here Art Thou.' Another popular movie, 'The Shawshank Redemption' depicted the use of convict labor for other types of contract labor such as roof tarring. Manufacturing automobile state license plates is another use of prison labor familiar to most of the general public. But, how does the general public feel about the use of prison labor, and moreover, how do laborers in the private sector feel about companies using prison labor instead of them? Is the use of prison labor good for the economy? Is it good for the prisoners, for the…… [Read More]
Intercultural Conflict Management
Today's society is a multicultural environment that holds both extreme promise and conflicts (Adler, 1998, pp. 225-245). Through rapid developments in technology, global communication has been revolutionized in the past few decades. By the end of the twentieth century, new technology made it simple for people in different cultures to communicate with each other at lightning speeds.
As a result, a greater number of people are exposed to cultures other than their own. Due to communication technology, people are no longer isolated by borders and other obstacles and have ample opportunities to experience different cultures.
However, this incredible occurrence has brought conflict amongst people from different cultures, due to differences in language, manners, opinions, lifestyles and other factors. As a result, intercultural conflict management has become necessary in helping people to understand one another.
Conflict occurs at all levels of human interactions, whether it is…… [Read More]
Healthcare: Six Sigma in Healthcare
In a competitive marketplace, success is dictated by one's ability to ensure that their customers are kept satisfied through zero-defect products and services. Six Sigma is a customer-driven management methodology that helps organizations realize this, and consequently, meet the expectations of their customers by reducing process variation. The program was developed by Motorola Inc., but is widely-associated with General Electric, and most firms have adopted it over the years based on the observed success of the latter. Well, the results have been varied -- for some, positive, and for others, not as expected; but why is this so? Tennant (2001) points out that the effective "application of Six Sigma requires an eclectic source of knowledge and skills, as well as a sound understanding of customer-centered process management" (p. xii). Towards this end, this text seeks to give insight into what Six Sigma really is, how…… [Read More]
Code of Conduct Framework
The Board in charge of every firm has the responsibility to come up with, and record in writing a code stating the processes and practices that the company should follow for fair UPSI disclosure, as per the principles given in the Regulations; Schedule A. Schedule A gives specific minimum standards such as equality in accessing information, policy publication e.g. those about dividend, pursuits of inorganic growth, meetings and calls with analysts, recording the meetings and calls in writing among others. Furthermore, the Boards in charge of all listed market intermediaries and corporations are required to come up with a code that regulates, supervises and makes reports of trading activities by the staff and any other connected party (Nishith Desai Associates, 2016).
Any employee of a Company is allowed to present a complaint, which should be made with no ulterior motive or out of reasonable…… [Read More]
Driven: Leadership Strategy
An organization needs implementation of strategy to happen on every level within the company structure in order to function. Factors such as: flexibility, creativity, openness to use of technology and innovations, communication across the organization and talented employees are a must for competitive advantage.
So why is a plan so difficult to implement? Strategy implementation places a huge burden on the shoulders of management as many are not comfortable with the unknown or understand the range of possibility and opportunity. Mukherji explains, "the fast paced and complex environment of business bears little resemblance to the more artificial, organized and simplified world of the MBA" (Mukherji 2001) or in other words, many managers have not been taught how to develop new ways of applying their skills. Much of strategy begins and end with the type of people one surrounds themselves with during the any stage of a company…… [Read More]
Data Warehousing: A Strategic Weapon of an Organization.
Within Chapter One, an introduction to the study will be provided. Initially, the overall aims of the research proposal will be discussed. This will be followed by a presentation of the overall objectives of the study will be delineated. After this, the significance of the research will be discussed, including a justification and rationale for the investigation.
The aims of the study are to further establish the degree to which data warehousing has been used by organizations in achieving greater competitive advantage within the industries and markets in which they operate. In a recent report in the Harvard Business eview (2003), it was suggested that companies faced with the harsh realities of the current economy want to have a better sense of how they are performing. With growing volumes of data available and increased efforts to transform that data into meaningful knowledge…… [Read More]
General Electric Leadership Program. Specifically it will discuss the program and why it is successful. General Electric has an extensive leadership program that prepares new college graduates for leadership roles in the company. It is one of the most well respected leadership training programs because it creates excellent leaders ready to take on management roles throughout GE's many different divisions.
GE's Leadership Program is successful for several compelling reasons. It is geared to "global management," because GE is a global company, and doing business in different countries and cultures can be very different and challenging. However, it is a three-step process that helps develop managers in different areas of expertise, such as finance or human resources, and it develops managers at different levels to accomplish different things, such as section leaders and middle managers, as well as executives and upper management. The company does not train people to be managers,…… [Read More]
Leadership at GE
The General Electric Leadership Program is a program to prepare GE's leaders of the future, and it is one of the most respected leadership programs in the world, because it gets excellent results and creates leaders of the future. The program is multi-faceted, gives hands on experience, and shows participants what their corporate experience at GE will be like, so it gives GE exceptional leaders, and prepares college grads for a rewarding career with a global leader in numerous different departments.
Why is this program so successful and well respected? Because it works, and because it is extensive. Students do not sit in class for a few weeks. They spend six months in a location, and then rotate to another location, learning every aspect of day-to-day operations during their time there. It is a full time job, and they also have periods of intensive study at the…… [Read More]
Welch Leadership Development Center. The reason why these areas are important is because they are working to create a basic foundation of leadership skills. As, having young managers are learning the proper leadership techniques that will help them to be able to understand how to effectively work with staff members. Once this occurs, is when they will learn the different ways to reach out to them and motivate each person to do something more for the firm. While, the time that they are spending at the Jack Welch Leadership Development Center, which will help new executives to learn various tools for effectively leading an organization and how they can be applied in a corporate environment. These elements are important, because they are showing that the combination of these factors are creating an approach that is teaching new managers proper leadership techniques and the way they are applied in the real…… [Read More]