Case Analysis Hershy Food Company Marketing Essay

Case Analysis Hershy Food Company Marketing Essay The evolution of global chocolate industry presents many interesting details. Chocolate industry on a global scale is a huge. Chocolate, given its tempting qualities is a huge marketable product for many reasons. Hence, the industry itself is huge we can speculate. As we are aware, chocolate is made out of cocoa seeds. In the initial periods, chocolate was expensive to be manufactured. It was only after the industrial revolution in Europe that a remarkable shift in chocolate industry can be seen. Chocolate also comes in a variety of taste. (Allen, 2010 , p. 21)According to the international cocoa organization, chocolate industry on a global scale is a multi-billion industry. During the year 2006 chocolate industry and manufacturer made tremendous gains from sale. Some of the forerunner or top manufacturing companies in accordance to their sales during 2006 were Hershey Foods Corporation, Mars Inc, and Cadbury Schweppes PLC who topped the list. (ICCO) During 2002 and 2001, the chocolate industry can be concurrently be classified in terms of their sales itself. According to the report available with IOCC, it is mentioned that during the year 2000/2001, the world cocoa industry witnessed a remarkable jump in terms of their share, be it production, consumption and sales. Most importantly, for year 2000/2001 production of world cocoa or chocolate was estimated to be 2,825,000 tonnes. (ICCO, Annual Report for 2000/2001 , 2001 , p. 13) However, for the year 2008/2009, which is the last available report published by ICCO, cocoa production was estimated to be 3.5 million tonnes. (ICCO, Annual Report 2008/2009, 2009, p. 3) From these data we can assume that world chocolate industry is a huge business globally. Hence, it would be interesting to analyze the case also related to Hershey Food Company, a chocolate manufacturing giant, which is discussed as follows. Hershey Food Company: Performance Audit Report 2002 and 2011 Starting the year 2002, Hershey Food Company faced many challenges. Some challenges that were brought to the notice of the audit board were competition from competitors, namely Nestle and Mars that has increased manifold. The global market shares of Hershey Food Company also fell sharply during the said year. Another challenge facing the company CEO then was the factor covering value enhancing to its customers worldwide. As the case is, competition from Nestle and Mars are such that it gave a sense of fear for the company management and its board of director. Hence, the company report that came henceforth was to make a strategic shift to enhance its products, which necessarily raise a question of investment. In that regard, what the company CEO then in the year 2002 recommended was to include realignment plan of US$275 as a shift towards reduction of the workforce in the company that will go towards voluntary compensation. Such a plan was really for a company that is known to have been a people champions for long enough. Yet it was probable, and the case can be looked to the declining market share and unpredictability, given the fierce competition from Nestle and Mars. As reported by ICCO, Hershey Foods Company for the year 2005 was dismal to say so, given that it an annual sale was estimated to be US$ 4881 million dollars, four places below its competitors namely, Nestle, Mars, Cadbury and Ferrero. (ICCO, The Chocolate Industry ) So considering these developments the voluntary realignment plan was a necessity felt the company CEO, Richar d H, Lenny. Audit that was carried out for the year 2001 to 2011 brought into face the many unknown facts and figures about Hershey Food Company. The investigation carried out by Attorney general brought to the notice the most unfamiliar case. What is interesting to note is that audit carried out in the company shows that majority of shares in the company was owned by single large shareholder. This is very unlike and came as a surprising factor for auditors as well given the complexity in shareholder and their ownership, besides the links of the company to many charitable initiatives, which posed many questions for auditors. Somewhat Hershey Food Company represents a community shareholder. This is what the audit report showed about Hershey Food Company. Then Strategic Development from 2001 to 2011 The strategic development starting March, 2001 till September, 2002 saw many proposals being raised in a span of one year as a factor to push the sales and revenue generation initiatives of the company. Given the board of director meeting it was figured that Lenny, who was the CEO of the company then and his management styles, was not received by the company stakeholder properly. It is said that Lenny management was somewhat out of the boundary, which brought to fore disagreement amongst employee and co-managers in the company. In March 2002, the company strategic team decided to explore upon the sales factor of the company, however, the company CEO was reluctant and was trying to seek alternative to such a decision being made. As a matter of fact, competition also the market was not only posing many pressure on the company management, but also brought into contention the test of time that raised a conflict amongst stakeholder and director of the company. Such happening was a pre-cursor to the overall episode encompassing Hershey Food Company. The conflict of idea and recommendation regarding sales objectives between the board of the company and the trust was really interesting to note. Part of the strategic development from 2001 to 2011 also saw many forms of protest, within and outside the company management realms. Such case is sad indeed for a company of repute. The development that came about also somewhat show an increase of 10% sales for Hershey Food Company in 2002, that also in a span of 3 months under the leadership of Lenny, the company CEO. The success in that regard was accorded to the cost cutting measure initiated by Lenny in context of the realignment plan. However, somewhat the case of conflict as can be seen is that the vision of Lenny and that of the company founder was not match-able in any regard. Such development in parts within Hershey Food Company and its strategic development starting the year 2001 to 2011 brought into contention the very conflict that is reported between the trust and board of directors, which is central to the issue facing the company at the most critical time, and reason enough for the conflict to erupt. Board Meeting Outcome Given the audit that was developing in the company, sales of the company was brought to an injunction or ban by a panel of judges. However, following the year 2002 during September, the injunction was cleared and granted. This development saw the introduction of Candy Swoops Slices in 2003, which was listed by Productscan as the most innovative product of the year itself. Following the board meeting, the outcome also saw the acquisition of Joseph Schmidt by Hershey Food Company in 2005. (Malhotra, 2009, p. 395) Company Status Today The company status today as we have maintained earlier is one amongst the major manufacturers of global chocolate. Many innovative products were introduced by Hershey Food Company in a span of five years. Moreover, to gain its market share lost to its competitors, Hershey Food Company decided to become a fearless product innovator. These somewhat paid dividends, which brought Hershey Candy Slices Swoops which was received highly in the market. (Malhotra, 2009, p. 395) Hence, today Hershey Food Company is a major competitor in the chocolate industry. The battle for the company was won in actuality, and today Hershey and Mars are fighting for the number spot in the global industry, which to some analysts is a $73 billion industry annually. (Malhotra, 2009) Hence, these figures itself present many interesting facts about Hershey and where it stands today after the internal turmoil since 2001. Recommendation What we learned from the case study and its analysis is that governing issue was one formidable background that can be read and make out. Given the presence of huge number of shareholders in the company and unbending management further ignite the pressure that the company is facing. Hence, it is recommended that corporate govern ace of the company should:- Be held by a body of authority that is designated to take decisions and dismantle complex issues in organized way. Bring into contention effective leadership. Finally, production and Operational Management overall should be streamlined for enhanced process of the company. SWOT Analysis of Hershey Food Company Hershey main strength as can be analyzed lies with its innovative approach to introduce products that are to the taste of consumers. In the history of the company, advertising also have been the main strength that Hershey [posses to outdo its competitors. Being a chocolate manufacturing giant, Hershey the board also was one factor which posed many dangers for the company. For instance organizational weakness was one feature overall of Hershey. Yet the opportunities for the company lays within the competitive leader that the company has strive for many years. Given that Mars is on the number spot the factor of it also presents Hershey with an opportunity like never before to reclaim its place as the number one manufacturer in the industry. Yet the threat was always there, and recurring as can be seen to the stiff financial audits and leadership of Lenny, which to the boards is not a feasible one as far as Hershey Food Company strategy goes.

Market Based Accounting Research Impacts

Market Based Accounting Research Impacts Market-based Accounting Research Introduction Accounting provides financial data about the performance of a company. This data enables accounting information users, including investors, to take their decisions about investing in the shares of a company. Similarly, accounting research evaluates the usefulness of this accounting data to investors and other users. The relationship between the two can be examined through market-based accounting research. Market-based accounting research is a search into relationship between publicly disclosed accounting information and the consequences of use of this information by equity investors. In other words, market-based accounting research examines the association between accounting numbers and security return and tests whether or not accounting data carry any information content to security market. Rationale for the Research Market-based Accounting Research is extremely relevant to the study of capital market efficiency, CAPM, information economics and regulation. The main drive of market-based accounting research comes from major developments in finance theory during the last few decades, especially in late 50s and early 60s. These developments include portfolio selection theory, Capital Asset Pricing Model (CAPM), and the concept of information-efficient capital markets followed by developments in information economics, agency theory and optimal incentive-signaling models. The rationale of this study has its basis in the research in this area in the past. Over the past three decades, a significant amount of research in market-based accounting research has emerged to evaluate the usefulness of accounting data to investors and the association between the accounting numbers and security return. In fact in the recent years due to development of capital markets, globalization and increase in stock trading, market-based accounting research has become even more important. Contemporary market-based accounting research has primarily focused on its international dimension which has had important policy implications for regulators and others who deal with disclosure requirements in different stock exchanges. The focus of this dissertation will be on examining how market-based accounting research impacts the kind of common stock traded in major stock exchanges. In light of this, the study will examine the relationship between accounting numbers, stock market returns and market valuations. Key Aims Objectives As indicated above, the prime focus of the study is to examine contemporary accounting theory and research with an emphasis on market-based accounting research and its impact on capital markets. As market based accounting research is based on the valuation of firms and their securities, the use of financial statements for valuation purposes, and the implications for financial reporting and corporate governance, all these areas will form a part of this study. The study aims to: Describe the concept of market based accounting research Identify the information content of market-based accounting research Provide an insight into local market conditions as well as comparative international state of market-based accounting research. Examine the role of market-based accounting research and the importance of disclosure of accounting information on capital markets Examine how published information is used by investors for designing their trading strategies Describe how market-based accounting research information impacts the capital markets efficiency Describe accounting based valuation and relate it to the content of brokers’ reports Key Research Questions The three key research questions proposed to be examined by this study are: What is the role of accounting information in capital markets? What is the information content of accounting information? What is the market-based accounting research hypothesis in context of influence on investors investing in stocks? Another key research question is how the market reacts to reported earnings, as well as the impact of reported earnings on the properties of analysts’ forecasts. These questions, especially the information content of accounting information, can be measured by the influence of the information on security prices. While measuring the influence it is assumed that investors can understand the differences in earnings that are due to differences between accounting methods. In other words, the study is based on efficient market hypothesis or the assumption that stock prices accurately and quickly adapt to all available information and therefore prevent individuals from getting abnormal return. Proposed Research Methodology Sources of Data / Information The study will be both exploratory as well as descriptive and will rely on both primary as well as secondary sources of information. Sampling for Primary Information Primary data will be collected from a sample consisting of both brokers as well as individual and institutional active investors who have invested in equity shares in a few pre-selected companies listed on the US or European stock exchanges. The period of investment will be from 2000-2006 as 6 years is a sufficient time to analyse the impact. These investors will be chosen on the basis of the frequency with which they invest in the securities. Data will be collected by administering questionnaires seeking information on how these investors make an investment decision. Sources of Secondary Information The prime source of secondary data will be: Annual reports of the selected companies under consideration. The variables that will be focused upon will include stock returns, dividends, net income on sale, return of equity, return on asset, debt ratio, interest coverage, current ratio, Price-earning ratio and price. The final report will be supplemented with information from: Literature searches ( refer list of references at the end of the document ) Past articles and research in the area Internet searches: Searching specific data from Yahoo and Google search engine Data Analysis Data will be compiled into data master sheets. The statistical description for all the variables will be presented in a separate table. The various sets of information pooled over the five year period of study will be clearly presented in the table in context of the various variables. The standard deviation and also correlation between the variables and the stock return will be determined and analysed. Correlation will be based on Karl Pearson’s method of correlation. In addition to standard deviation and correlation, regression analysis will also be used for examining the market reaction to reported accounting information. Regression is used for analysis of impact of independent variables on the dependent variable. The dependent variable for regression analysis will be stock returns while the independent variables will be dividends, Net income on Sale, return of equity, return on asset, debt ratio, interest coverage, current ratio, and price-earnings ratio. Regression equations will be solved using Ordinary Least Square method (OLS). Qualitative data gathered from the investors may include opinions of respondents on a certain issues, reasons for certain behaviour and descriptions of certain procedures, practices or perceptions with which the researcher is not familiar. The data can be analysed by classifying all answers into a few categories. References Abeyratna, G, A.A.Lonie, D.M. Power and C.D. Sinclair (1993), The Stock Market Reaction to Dividend Announcements: A UK Study of a Complex Market Signal, University of Dundee. Bonin, Joseph M. and Edward A. Moses (1974), Seasonal Variations in Prices of Individual Dow Jones Industrial Stocks, Journal of Financial and Quantitative Analysis Charest, Guy (1978) Dividend Information, Stock Returns and Market Efficiency II, Journal of Financial Economics, Vol. 6 Dyckman, Thomas R. and Dale Morse (1986), Efficient Capital Markets and Accounting: A Critical Analysis, Prentice-Hall. Foster, Taylor W. and Don Vickrey (1978) The Information Content of Stock Dividend Announcement, Accounting Review. Vol. LIII. No. 2 Kinney, W. (April 1986.), Empirical Accounting Research Design for Ph.D. Students, Accounting Review Kothari, S.P. Capital Markets Research in Accounting, Journal of Accounting and Economics Vol. 31 Nos. 1-3 Ross, Stephen A. 1978, The Current Status of the Capital Asset Pricing Model (CAPM). The Journal of Finance, Vol.XXXIII. No. 3 Scholes, Myron S. 1972. The Market for Securities: Substitution versus Price Pressure and the Effects of Information on Share Prices, Journal of Business

Signaling and Screening Approaches in Car Manufacturing

Signaling and Screening Approaches in Car Manufacturing Signaling and screening are key approaches to minimize judgmental errors in situations where there is asymmetric information. One such situation occurs when a firm wishes to assess individuals for consideration as a prospective employee. This report reviews and applies the different concepts studied to a car manufacturing company, Audi. The structure of the paper will be as follows: elaboration on various signaling approaches, an evaluation of the firm’s effectiveness and relative costs with respect to Audi, followed by showing the business outcomes subsequent to the use of different approaches. Finally, recommendations are made to allow Audi to boost its effectiveness in identifying the most suitable applicants. The Audi Group (AG) has been named one of the most successful car manufacturers in the premium and supercar segment. A total of 1,751,007 cars have been delivered by the company to clients compared to the 1,634,312 cars in the past fiscal year. Conversely, a new record was constructed when the main brand ‘Audi’ amplified its total number of units delivered by 8.3% to 1,575,480 vehicles. The AG manufactures in ten sites worldwide and these production sites consist of two plants in Germany while another eight other facilities are in Belgium, China, Hungary, India, Indonesia, Russia, Slovakia and Spain. Moreover, its front-line logistical practices; synchronised Audi assembly system and an extremely competent workforce of approximately 73,751 assure uniform standards globally. Since each Audi production site attains high standards of excellence, productivity and conservational suitability, this could be the reason for the many awards received by the AG in 2014 which includes the ‘Best Employer Award ’and ‘World Car of the Year’. While some theories hold common views, others have conflicting ones. For instance, the human capital theory identifies that an increase in level of education has critical impacts on profitability and productivity. On the other hand, pure signaling theory states that education does not result in productivity towards the society and questions the investments which individuals made when seeking them. Under human resource management, signalling often occurs during the recruitment process. This is illustrated by Spence (1973), where it shows that signaling theory is concerned with reducing information asymmetry between two parties. Spence (1973) developed the labour market to showcase education as a signal. As employers have limited information regarding on the quality of job applicants, these applicants thus obtain education to signal their quality and reduce information asymmetries. Hence, Spence’s model emphasises on education as a way in transmitting characteristics that are unobservable of job applicants. The next signaling theory utilises two variables- high and low quality firms. In this model, imperfect information exists, where firms know its own worth, while external sources such as investors and customers do not. A choice is then made by each firm on whether to signal its true qualities to outsiders, based on the different payoffs that are presented to them. For each of the different quality firms, two payoffs will result for the various decisions made. The high-quality firm will receive payoff A if it chooses to signal and B if it chooses not to. As for the low-quality firm, it will receive payoff C and D for the respective decisions. Since both firms are assumed to make rational decisions, they would choose whichever option which gives them a higher payoff so as to be better off. With this assumption, there would be a separating equilibrium where high-quality firms are motivated to signal and low-quality firms are not (i.e. when payoff A is greater than payoff B and payoff D is larger than payoff C). It also effectively enables external sources to identify high-quality firms from low-quality firms. However, a pooling equilibrium occurs when both types of firms benefit from signaling (i.e., A > B and C > D) and outsiders can no longer differentiate between the two firms. From the financial economists perspectives, firm debt and dividends are used as representation of signals on firm quality. These signals will influence the external environment of its opinions on the quality of firms. Ross refers to this quality as ‘‘an unobservable skill of the business to earn positive cash flows in the future using financial structure and/or managerial incentives as signals’’. By doing so, only firms of high-quality are able to make interest and dividend payments over a long period of time as low-quality firms cannot bear such payments. Understanding the concept of quality is important since it is a distinctive factor in most signaling models. Quality refers to the fundamental, unnoticeable capability of a signaller to satisfy the demands or needs of an outsider observing the signal. This idea of quality may be similar to reputation and prestige, but are essentially derived from the signaler’s unnoticed feature. Based on the understanding of concepts from various approaches, three elements of the signaling process are identified: the signaller, the signal and the receiver are looked upon. Moreover, each of these elements below will be illustrated using Audi, the selected manufacturing company. Firstly, signallers are known as insiders that can acquire information concerning an individual, product or organisation that external parties are not entitled to. The insiders include directors or executives of the Audi Group. Information obtained can either be positive or negative and usually consists of confidential and high level details on Audi’s products or facilities. As the information is confidential to the insiders, it allows for some aspects of privileged perception on the primary quality of the individual, product or organization. The next element is the signal itself. This is the point when insiders make a decision on whether to share the information to external parties. In a signalling theory, the focus is on relaying positive information to achieve positive organisational attributes. For example, distribution of shares is a form of negative signal which displays that executives believe the company’s stock price is overvalued. The insiders’ main aims are to reduce information asymmetry while the negative signals sent are often an unplanned consequence of the insider’s action. An efficacious signal comes in two forms signal observability and signal cost. ‘Signal observability’ refers to the extent to which external parties are able to notice signals. When the steps taken by insiders are not easily detected by outsiders, communication with receivers will become unlikely. ‘Signal cost’ under the signaling framework will contain the fact that a number of signallers can absorb the associated costs better than others. For instance, the costs related with gaining ISO9000 certification (a certification which considers different aspects of quality management) are high due to the process of accreditation being relatively time consuming as well as preventing false signaling. Nevertheless, a high-quality manufacturer would find ISO9000 certification less costly unlike a low-quality manufacturer as a manufacturer that is of lower quality would need to implement more changes in order to be presented the accreditation. False signaling occurs when a signaller does not have the basic qualities connected with the signal but trusts that the benefits of signaling outweigh the costs of producing the signal. Therefore, in order for signaling to remain effective, signaling costs have to be planned so that false signals do not pay. The final element is the receiver. Based on the signalling models, receivers are the exact opposite of signallers whereby receivers do not have access to information regarding Audi but wants to have it. Hence, there is a conflict of interest such that any deceit would allow the signaller to have an advantage over the receiver. Signaling ought to have a strategic outcome which typically comprises selection of the signaller in favour of other possibilities. The approach on this signaling is that outsiders will benefit directly or collectively with the signaller from the decision made based on the data attained. To illustrate, the receiver can choose between hiring, purchasing, or investing. By reading the signals carefully, interested applicants will be able to identify if the skills and capabilities that the individual have are the right fit for respective firms and thereby do a self-selection for the firm to consider the applicant on hiring prospects. Audi engages using various aspects, besides putting in place attractive monetary benefits, to send out indirect but positive signals to show that Audi cares about the employees’ well-being. These aspects include the provision of job security, professional development, and healthy working environment between coworkers and supervisors along with other attractive non-monetary incentives. Audi is dependent on the skills and commitment of employees of excellent traits. Thus, feedbacks are often performed amongst employees to measure the extent of satisfaction levels. Due to its prominent existence and continuous international growth, Audi is capable of using its national and international ratings to signal themselves as an attractive employer worldwide. For example, it is known that Audi has the biggest manufacturing facility in Germany and has even invested in an institution that provides training and learning opportunities to employees. This effectively allowed Audi to become the few top employers in the region with over 33,729 employees. Employers need to find ways to motivate employees in order for signaling to be effective as dedicated and well-trained staff is vital for Audi to progress and succeed. One way is through personnel development where employees are led, challenged and cheered on in the beginning so that their fortes and ideas can be applied. Thus, an organized, intensive and reliable model for the ideal improvement of all workers is being executed. The organizational structure of Audi is another signal that attracts many job applicants. What the company looks for is neither the rank nor the period of service of an employee, but rather the loyalty, performance and capabilities that makes them an asset to the firm. This shows that Audi has a decentralized hierarchy where specific knowledge is required and responsibility is at all levels. Hence, being a recruit may not necessarily be a disadvantage. Moreover, supervisors evaluate an employee’s performance by making the decision on his/her wages increment and future prospective of the individual by communicating with each other. This method is also closely linked to promotions where Audi uses the concept of ‘‘good performance – good opportunities’’. It gives an employee the opportunity to learn as much as possible from various divisions through a manner of ‘on- and off-the-job’ selection. Most companies use salaries to signal applicants and/or employees. Audi has effectively put the signal to right use when the rewards received by employees are considerably greater than the initial negotiated amount. With profit-sharing distribution, satisfaction levels are likely to increase, in turn driving motivation. Each individual employee’s credentials, proficiency and former experiences determine the amount of remuneration he/she receives. Audi ensures that new entrants are assured a healthy work life environment where a range of benefits are available and entitlement to ‘‘open-ended contracts’’. These benefits cater to families where childcares are taken into account for employees; and to individuals where health insurance is of utmost importance to maintain as a strong health-focused workplace. More importantly, Audi takes care of its employees even after retirement through the ‘old-age pension scheme’. This may be the reason for Audi’s recent achievement of the ‘‘Best Employer 2014’’ title as employees are never hesitant about praising the company to others. The above section desribed many effective signals which Audi uses to attract potential employees. However, due to the outcome of demographic change and overall value formation processes, Audi still faces the risk of a shortage of professionals and/or skilled workers. As such, the human resource division are found to be focusing heavily on individual development, supporting the employees with extensive training programs to help them develop multiple skills. However, Audi failed to realise that these signalling approaches are very costly to the firm and needs to be reviewed through the following recommendations which could reduce cost significantly and at the same time achieve efficiency. In this model, there are two periods considered: the probation period and the non-probation period. Audi can adopt the probation model by first assessing employees during the probationary period with a relatively lower pay. If the worker is able to pass this probationary period, then a high wage is given subsequently. This effectively ensures productivity and constant monitoring of employees so that the right type of applicants is attracted to the company. By having an ‘old-age pension scheme’ for its retiring employees, it shows Audi’s valuation and treatment of its employees. A suggestion to allow senior employees of various specialties to join the senior management or board of directors for recruitment assessment of new applicants could be a relatively more cost-effective measure and the risks of selecting the wrong applicants would definitely be lowered as senior employees have the knowledge and experience to screen for potential employees. Self-selection, in the context of recruitment refers to a process whereby the right employees for the business decides to apply while the wrong employees does not. Hence, it is crucial for organisations to send signals to attract applicants and it would be an added bonus if signals are presented such that individuals perform self-selection for consideration. Bearing this in mind, Audi may consider a ‘‘piece-rate contract’’ which indicates the pay levels received by the individual when he/she attains a certain level of productivity. Thus, Audi will be able to deter less skilled workers from applying and only skilled workers are being screened. Besides conducting satisfaction surveys, Audi should instead implement a suggestion scheme where employees can provide valuable inputs to improve productivity and ensure the safe operation of manufacturing. To encourage participation, a reward in the form of extended off-day leaves or sponsored specialized education can be provided to the employee whose suggestion is acted upon by Audi. Audi can consider including other forms of incentives which consists of individual incentive plans and/or team incentive plans. Individual incentive plans can be ‘‘straight piece-work’’ system where work is less challenging and more acceptable by employees since it can be easily understood. This ensures that employees are more comfortable with the task given and will be motivated to produce efficient work. While it has been noted that Audi uses profit-sharing distribution on top of bonuses, it would probably be a better incentive for the firm to use stock ownership or options as awards instead since the effect on financial statements would be minimum and the additional profits earned by the firm could be used for further enhancement in research and development. Overall, the signaling theory is a useful indictor to describe the conduct of individuals or organizations when information is available. Normally, the sender will decide on the method and audience to send its signals to while the receiver learns to interpret those signals. However, the use of signalling approaches needs to be an appropriate fit to the business so that additional cost would not be incurred at the extent of the organisation’s and employer to employee relationship growth. Taking Audi as an example, if Audi is able to improve on its signalling approaches, the business will continue to be an attractive employer worldwide in the long run.

Limitations of the current system :: Computer Science

Limitations of the current system The current system is slow in terms of processing tasks. When a lot of customers are present it is very time consuming to look for individual products because of the large stock room. This means fewer sales transactions are completed so overall there is less profit being made. The customer filing cabinet is taking up a lot id space which can be used for a lot of other things which is un-efficient. Also when a customer comes searching for the customer details is very time consuming and sometimes the details are overlooked so new ones are made causing reputation. If a staff report is created to see who has sold most products can be done by the current system, but it can be very time consuming to go through every invoice. This means that these types of reports are not done despite the ability to do them no one does. The advantage of doing such a report would be to see who doesn’t sell as much so more motivation can be given. The current system also limits the functions you can do because when stock runs out it is hard to find out until sales rep comes looking for the product. This means that they have automatically just lost out on a sale. These are the limitations which with my system shouldn’t occur. New system The new system will enable the users to process tasks quicker and with greater easy. Meaning the new system will have a whole new stock control database. This will definitely improve the time taken to search for a specific product which will mean more customers are attended too. With the aid of security different levels of system uses can be introduced which would mean company information like employee details can be stored on the database. This will also be a good feature because it will mean when a sales transaction is made it will be recorded so if errors arise in human error with sales transactions the system can check to see who carried out the sales transaction. Using the new system more better results and charts can be produced to give a better prospectus of the company finance and how much profit is being made. Also this can lead to queries being performed to see which items sell the most so a larger variety can be introduced or the items that don’t sell that well can be re checked to see why people are not buying them. With the new system it will be easier to do sales transactions because the sales rep doesn’t have to worry about saving the transaction,

Foods Connection Individual and Cultural Identity Essay -- Sociology

Sleep, sex, and food are the three most important aspect of a human life. Each of them represents resting, reproducing, and surviving – essential elements that form the foundation of human culture and society. The status of these elements always represents the social stature and cultural ideology, of the desire or dislike of people. Some standards are universal, while some are uniquely formed through generations of different cultural traditions. Food in this case might be the most simple and yet the hardest ideology of desire for anthropologists to catch. Its meaning is never as plain as a recipe of a cooking book, but always attached with the cultural and psychological ideology that is connected with individual and cultural identities. This paper will look at how food is connecting with individuals and cultures, as an anthropological medium. First, the connection between individual and food are the preference of individual and the potential meaning of food consume, which involve with biological, psychological, and cultural motivation and understanding. In the practice of food preference, though there are biological reasons for food choices, individual preference and avoidance are mainly based on psychological and social reasons. According to Paul Rozin (1987), he agreed that â€Å"genetically determined predispositions† which lead to certain food choice are true, and â€Å"the best-documented biological constraints are: an innate preference for sweet tastes and an avoidance of bitter taste or irritation of the oropharyngeal surface† (P.182.). He raised more examples of subconsciously preference of infants toward sweets and rats toward sodium salt (under the condition of sodium deficiency) to support this point of view (1987, P.182). .. ... life, food is way beyond a plain representation of basic instincts, its meaning and interaction between individual and society will always be a primary object of study in Anthropology. Works Cited Brumberg, Joan Jacobs 1997. The Appetite as Voice. In Food and Culture: A reader. Counihan, Carole and Penny Van Esterik, eds. Pp 159-179. London: Routledge. Douglas, Mary 1975 Deciphering a Meal. In Implicit Meanings: Essays in Anthropology. Pp: 249-275. London: Routledge and Kegan Paul. Harris, Marvin 1985. The Abominable Pig. In Good to Eat: riddles of food and culture. Pp. 67-81. New York: Simon and Schuster. Rozin, Paul 1987. Psychobiological perspectives on food preferences and avoidances. In Food and Evolution: Toward a Theory of Human Food Habits. Marvin Harris and Eric B. Ross, eds. Pp.181-205, 605-606. Philadelphia: Temple University Press.

Ergonomics Essay -- essays research papers

What is ergonomics? Ergonomics is the science of fitting the job to the worker. When there is a mismatch between the physical requirements of the job and the physical capacity of the worker, work-related musculoskeletal disorders can result. Workers who must repeat the same motion throughout their workday, work in an awkward position use a great deal of force to perform, repeatedly lift heavy objects or face a combination of these risk factors are most likely to develop work-related musculoskeletal disorders. In this report, I will outline the main factors in having a safe workstation. There are certain ways in which you may choose an ergonomically correct chair. Does the seat feel comfortable and fit your shape? When you sit in the chair the seat should be at least one inch wider than your hips and thighs on either side. The seat should not be too long for your legs otherwise it will catch you behind the knees or it will prevent you from leaning fully back. Most ergonomic chairs have a seat with a front that prevents the seat from catching you behind the knees. The seat should also be contoured to allow even weight distribution and it should be comfortable to sit on. Is the seat chair height adjustable? The chair should be adjustable so that you can adjust seat height while you are sitting on the chair. Some chairs have a mechanical height adjustment (spinning) mechanism. Does the chair have a comfortable lower back rest? Many chairs have cushioned lower back supports that can be adjusted up and down and forwards and backwards to fit your shape. If the chair has a fixed height lower back support and it feels comfortable when you sit back against this then a fixed lower back support may be acceptable. When you sit back against the lower back support is there space for hips? Insufficient hip room can make you sit too far forwards on the seat so that you will not have enough thigh support. Does the seat still feel comfortable after you've been sitting in it for 30 - 60 minutes? If the seat is made from foam then continuous use can cause it to become deformed and then it will not provide cushioned support. Insufficient cushioning and inappropriate contouring can cause discomfort and hip and back fatigue. Is the tilt of the seat adjustable? In some situations it can be helpful to change the tilt of the seat pan to help to maintain a healthy seated postu... ...rved away from any contact surface. The forearm is shaped liked this for the wrist to remain free of surface pressure. Avoid restricting circulation - For many people there are exposed blood vessels near the skin at the wrist, which is where the pulse is often taken. Any pressure in this region will disrupt circulation into the hand and this will increase the risks of injury. Avoid Restricting Arm Movement - with a softly padded wrist rest, especially one that is rounded, or a soft chair arm rest the forearm becomes locked into position and this encourages people to make mouse movements by flicking the wrist, which also increases pressure. Choose a mouse design that fits your hand but is as flat as possible to reduce wrist extension. Don't use a curved mouse. Use a symmetrically shaped mouse. Consider a larger mouse, such as the Whale mouse, that encourage arm rather than wrist movements. The body was designed to perform a variety of tasks while actively using muscles. Sustained muscle activity robs the muscles of life giving blood flow. It is very important to actively stretch during breaks to flush out toxins that build up in the muscles that were used for sustained posture.

Mad Cow Disease Journal Entry :: Pesonal Narrative Diary disease Essays

Mad Cow Disease Journal Entry January 6th, 2004 Garden Grove, California Dear Journal, Mother has just gotten back from the grocery store. She's loading up the refrigerator with chicken, fish, and eggs--no red meat once again. Oblivious to the complaints about father saying the risk to human health from Mad Cow Disease is low and that he has got to have his meat. What can I say? A man has got to have his red, red meat. It has only been less than a year since the World Reference Laboratory has confirmed that a cow killed in Alberta, Canada was tested positive for bovine spongiform encephalopathy (BSE) also known as Mad Cow Disease among the public. But that was not the news that got mother going through red-meat paranoia. This past Christmas, it was found that a cow in Washington of the US of A, was positive for mad cow. If my word dissection is correct, the disease can be broken down to enceph meaning the brain and pathy meaning disease.* Overall, it is a disease that turns the brain into a sponge-like chunk of meat. At first, the only time I have heard of the Mad Cow Disease was in my European History class and it was only a brief sentence that was spoken about it, but boy, what a sentence it was. It seems as though during the 1980s, to save money, Great Britain's ranchers began to feed grounded up dead animals (who have died from disease) to their cattle. Now isn't that disgusting? Not only was it disgusting, but cows are herbivores and basically altering their diet like that caused the Mad Cow Disease to develop. When symptoms of the disease started to show, well, the government banned the use of dead animals as fodder and killed off the cows that were predicted to have Mad Cow. Now, I was thinking to myself, that's not so bad, right? What harm can this disease do? But being one of my bad characteristics, I spoke too soon. This disease has a human form called Cruetzfeldt-Jakob Disease (CJD). One of the main forms of getting it is by eating BSE-infected meat from cattle. Are you ready for some bad news? Well, symptoms of the disease include muscle spasms, distorted walking ability, memory problems, having a hard time controlling muscles, etc.