Ethical Dimensions of Preparing Two Financial Reports Essay Example for Free

Ethical Dimensions of Preparing Two Financial Reports Essay Ethical dimensions of financial accounting with respect to keeping of two sets of records, one for internal purposes only and the other for internal taxation purposes. Financial accounting, as stated by Garrison, is concerned with providing information those people outside an organization. This includes preparation of financial reports showing the company’s past financial performance which will be the basis for additional investments for stockholders, capacity to pay off loans for creditors or banks, imposing correct government taxes as mandated by law, etc. Financial reports, therefore, should be done accurately and with utmost truthfulness to avoid misconstruction due to omission or misstatement as stated in the International Federation of Accountants Code of Ethics. However, there are some who do not conform to this Code. Some companies practice preparation of two sets of financial reports at the end of the fiscal year, one for internal purpose and the other to be used and submitted for internal taxation purpose. Usually, if the company would like to attract additional investments from its stockholders, incomes are bloated. On the other hand, to avoid paying high taxes or even pay no taxes at all, financial statements are manipulated to reflect a lower or negative net income, which will be the basis for the computation of the taxes to be paid by the company. Whether for stockholders or for taxation, I strongly condemn such practice. This does not only violate the Code of Ethics of IFAC, such practice, if done continually, could even be a start of the eventual downfall of any company due to loss of its credibility and integrity. Thus, there exist major financial scandals that lead to collapse of business giants like what happened to ENRON. Further, leaders of the company may suffer from huge penalties or even jail terms, if found guilty of violating the code. Sadly, our country’s system on taxation and how the government use, or should I say, misuse collected taxes opens a lot of controversies and issues, which is being used by some companies to justify the practice of preparing a different financial report for taxation purpose. Corruption and issues on tax evasion by big companies are only a few examples why some companies validate this act. Corporate governance, as they say, should start first with the government, ethical behavior should be practiced first by our government leaders. This is the main campaign of incumbent President PNoy. The Code of Ethics on Integrity Rules states: â€Å"A member must not make, prepare, or certify, or permit or direct another person to make, prepare or certify, any statement which the member knows, believes or ought to

Gastric Acid Resistant Capsules Are Enteric Biology Essay

Gastric Acid Resistant Capsules Are Enteric Biology Essay Generally, the active pharmaceutical ingredients are delivered using two-piece capsules, which are filled with the drug, capsulated and taken orally. These capsules are made with materials like gelatin, hypromellose etc. The capsules release the encapsulated drug in the stomach by dissolving in gastronomical juices. However, some of the drugs affects the metabolism of gastric juices and are irritants. In these kinds of drugs, post gastric delivery is expected being intact in the stomach. In order to achieve these several investigation lead to development of acid resistant capsules called enteric capsules. Enteric Capsules: The capsules which are designed for intestinal delivery by being intact in the stomach are called as enteric capsules and this property is called enteric property. To achieve the intestinal delivery the capsule must be strong enough to resist the acidic environment in the stomach. Apart from the reason that the capsules may effect the gastronomical metabolism, some drugs require past gastronomical delivery to treat some local diseases like ulcerative collitas, irritable bowel syndrome (Crotty and Jewel, 1992) and to absorb polypeptides in the intestine (Davis, 1990). The endogenous enzymes are less in the colon and the transit time is long which will favor the absorption of polypeptides (Davis, 1992). The capsule dissolution time cannot be determined exactly in the capsules which are released in the stomach as the residence time is highly irregular and depends on the several factors like the size of the fabricated capsule, fed or fasted state of the stomach etc (Wildey et al., 1992b). If the colon is the desirable and perfect place for absorption of therapeutic polypeptides, which are orally consumed then there is a compulsory for enteric capsules which can target the colon release and can withstand the acidic gastronomical juices and state of gastronomical duct (Hardy et al., 1987, Van Den Mooter et al., 1992, Rubin stein et al., 1992, Lloyd et al., 1994). For several decades these enteric properties are delivered to the capsules mainly by coating the hard gelatin capsules using acid resistant chemicals such as anionic polumethacryalates (copolymerasite of methacrylic acid and tither methul methacrylate or ethyly acrylate (Eudragit), cellulose based polymers such as cellulose acetate phthalate (Aquateric) or polyvinyl derivatives such as polyvinyl acetate phthalate (Coateric) ( Ewart T. Cole et al., 2001), hydroxyl propyl methyl cellulose phthalate, sodium alginate stearic acid etc. These acidic polymers have very low permeability in their unionized state in low pH environments and when they reach high pH environments they ionize and resulting in increase of the permeability. As a result, the capsule erodes and releases the underlying drug. These kind pH variations can be seen in the stomach and intestine respectively. These enteric coatings showed a great advantage that it is independent of the encapsulated material. This advantage re sulted in the decrease in the extent of research to develop a formulation, which is enteric by nature itself irrespective of any enteric coating applied. Gelatin is the major polymer base for manufacturing capsules for many years. These enteric coatings are applied on the surface of these gelatin capsules. However, due to several considerations alternative materials like hypromellose are opted in some specific cases. Hypromellose has several advantages when compared to gelatin capsules regarding their response towards organic coatings, aqueous coatings, storage, structure etc. Hypromellose capsules over gelatin capsules: Gelatin and Hypromellose are used to fabricate capsules, which can dissolve in the gastric juices of the stomach and release the encapsulated material. Inorder to incorporate the enteric properties to these gelatin and hypromellose capsules different coating technologies are invented and acid resistant polymers are coated. From several years enteric coated hypromellose capsules are of very high importance in dietary supplement industry. Hypromellose is a vegetarian supplement to the gelatin capsules (Ogura et al., 1998). Hypromellose proved their efficiency when compared to that gelatin capsules when regulatory, manufacturing, religious and dietary issues are considered. Previous studies proved that the hypromellose is more capable in case of polymer adhesion. Gelatin capsules when coated with organic polymers they are very sensitive and embrittlement of the shell material is resulted (Murthy et al., 1986). The gelatin surface is very soft and adhesion of the coating material require some friction on the surface of the of the capsule body which is which is less in case of soft gelatin capsules. So enteric properties of these gelatin capsules are not up to the mark (Thoma and Bechtold, 1992). Secondary techniques like application of pre coat are required to coat these soft gelatin capsules. The interactions between the organic polymer and gelatin surface are controlled by applying a pre coat on the surface of the capsule. However, application of precoat is highly time consuming and costly process. Considering the ecological impact of organic coatings, aqueous coatings are preferred (Cunningham and FEgely, 2001; Wheatly et al., 1997).. These aqueous coatings make the gelatin capsules more sensitive because of aqueous solubility of gelatin. Hence the processing time is very long for aqueous coating of the gelatin capsules resulting in high fabrication costs. Hypromellose are advantageous in case of aqueous coatings when compared to gelatin capsules. For hypromello se capsule sealing of body and cap is required prior to coating to restrict the leakage of the encapsulated material through the merging part of the body and cap of the capsule. This sealing can be done manually using gelatin solution (Felton et al., 2002). Liquid encapsulation micro spraying technique can also be used for sealing the capsule. Considering the advantages and disadvantages of gelatin and hypromellose capsules, hypromellose can be effective to deliver enteric properties to the capsules. Development of formulations using hypromellose as the base polymer and enhancing with other acid resistant materials can yield better results. Enteric hypromellose capsules: The technology of enteric coating has undergone through several fundamental improvement in recent years due to their potential advantages and ease. Several promising technologies like sugar coating technique, film coating process using organic and aqueous solvents are designed. The process of application of enteric coating has several steps which involve lot of labor and time ultimately effecting the economics of fabrication. Apart from the coating process proper attention should be taken such that the coating materials is capable enough to adhere and coalesce on the substrate. The coating material must be able to loose moisture immediately so that the core penetration and dissolved coating material can be minimized (Els Mehuys et al.,2004). Aqueous coating cannot be applied to ingredients which are active towards moisture (Mehta, 1996). The coating techniques are effected by several factors such as spraying rate, spraying temperature, pressure, volume and dimensions of the coating equipment (Els Mehuys et al., 2004). Lack of proper attention towards these control variables results in non-uniform coating layer and upscaling. Many other techniques are developed to overcome these disadvantages of the coating process and reduce the process time. Obara et al., 1999 developed a dry coating process. This process involves spraying of dry enteric powder on the capsule followed by curing and drying. Pearnchob and Bodmeir (2003) developed another dry coating process in which they used ethylcellulose as the enteric coating material. Holroyd (2004) developed another process called Phoqus Process in which an electric field is created to induce partial positive and negative charges to the capsule and enteric material, thus resulting in adhesion due to electrostatic attraction between the compounds. Though several innovations are m ade in the field of enteric coating all the process require supply of energy in the form heat or electricity is required. Even though several promising innovations are made to overcome the defects of the coating process, still these coating process proved to be disadvantageous in large scale production. The main impacts of coating process during large-scale production involve brittle capsules, environmental pollution, safety, cost of the process, process time etc. This will induce extra cost in fabrication of capsules when manufactured in a bulk scale. A formulation designed which has enteric properties inherent can solve the extra cost and time due to enteric coating of the gelatin or hypromellose capsules. The previous studies showed that hypromellose shows some inherent enteric properties. Thus by enhancing these properties by using acid insoluble compounds like sodium alginate in the formulation itself can exhibit enteric properties. So additional coating can be prevented by optimsing these kind of formulations. Enteric formulations using hypromellose as base polymer: Certain formulations using hypromellose as base polymer are designed in which the HPMC acts as bulk film forming material. A gelling agent is added to the formulation like gellan gum such that it performs gelation action and help hypromellose to develop a solid structure and hold its structure firmly during moulding of the capsules. An acid insoluble tertiary polysaccharide (sodium alginate) is added to the formulation to induce and enhance the enteric characteristics to the formulation. Some pharmaceutical excipients such as lubricating agents (polyethylene glycol) , chelating agent (EDTA) and tonicity agent (Sodium Chloride) are added to the formulation. By considering all the above stated materials following formulations are designed: FORMULATION HPMC % W/W GELLAN GUM % W/W SODIUM ALGINATE % W/W NACL % W/W EDTA % W/W PEG % W/W 1 19 0.1 0 0.1 0.1 5 2 18 0.2 1 0.2 0.1 5 3 17 0.2 2 0.2 0.1 5 4 15 0.2 5 0.2 0.1 5 5 15 0.2 7.5 0.2 0.1 5 Impact of formulation and process variables on the drug release: Formulation variables: Polymer Base: Hypromellose is used as the polymer base material. There are several grades of HPMC that are commercially available. Generally different kinds of hypromellose is due to variation in the content of hydroxypropyl and methyl groups present in HPMC. In the present case rapidly hydrating grade hypromellose is used. The viscosity of the hypromellose depends upon the composition of hdroxypropyl group and methyl group. Improperly hydrated results in dose dumping as the gastric fluids can easily penetrate into the capsule (Dow pharmaceutical ecipients, 1986). The viscosity of the polymer effects the mouldability of the formulated polymer base into capsule. Hypromellose also decides the mechanical characteristics of the capsules. Hypromellose layers with high viscosity have a greater capability to withstand the diffusion of gastric fluids into the encapsulated material thus help in extended release of the drug (Nellore et al., 1998). Higher viscosity hypromellose will reduce the swelling prope rties of the capsule thus resolve the capsule separation problem. Hypromellose (C32H60O19) Gelling agent: Gelling agent like gellan gum is used in this formulation. Gellan gum is of very high importance in pharmaceutical industry in producing oral dosage forms like gels and capsules (Kubo W, Miyazaki S et al., 2003). Gellan gum shows effect on the release of the drug so it is used for controlled or sustained release (Alhaique F et al., 1995). Hypromellose in the presence of a secondary polysaccharide like gellan gum have the capability to forma strong structure and retain the structure during mouliding of capsule. The compounds containing aldehyde groups can combine with gelling agent like gellan gum to form cross links making the capsule insoluble (Digenis GA et al., 1994). Gellan gum is categorized based on the proportions of polysaccharide, the percent of o-acetyl substitution of polysaccharide and protein content. Gellan gum with high acyl condition has to selected for this formulation because gellan gum with high acyl content is capable of formation of soft, elastic and non brittle gels. On the other hand gellan gums with low acyl forms brittle and non elastic gels (Kelco Biopolymers, Gellan Gum for Pharmaceutical Applications rev. 10/99, 2004.). Gellan gum induces temperature dependent gelation. This gelation is caused due to series of activities in the order of formation of double helical junction zones and then gellan gum aggregation of these segments resulting in formation of three-dimensional structures by complexation and hydrogen bonding. The structure of deacetylated Gellan Gum The variation of amount of gellan gum in the formulation effects the gelating nature of the polymer base. The hypromellose and gellan gum has a biphasic nature. The percentage of gellan gum will result in phase change. Stabilizing agent: Sodium alginate is used as the stabilizing agent in these formulations. Sodium alginate acts as the tertiary polysaccharide. Sodium alginate imparts its acid insoluble properties to the hypromellose formulation thus making it enteric. Sodium alginate also acts as gelling agent. The amount of sodium alginate effects the gelation and acid solubility properties of the capsule. Sodium alginate Addition of plasticizer: Addition of plasticizer to the formulation decreased the water absorbing nature of the capsule. The major obstacle is the capsule separation due to the swelling of the capsule by absorbing water. Poly ethylene glycol (PEG) is used as the plasticizer to decrease the water absorbing nature of the capsule. Excess of PEG resulted in formation of brittle capsules and also effects the dissolution properties of the capsule. Addition of lubricating agent: Lubricating agent is added inorder to facilitate the dipping process. Addition of lubricating agent like PEG helped in easy removal of the capsule from the dipping pin. In absence of lubricating agent the capsules deformed while inverting from the dipping pin resulting in irregular shaped capsules. Addition of swelling agent: Addition of swelling agent is done inorder to achieve differential swelling between cap and body of the capsule to prevent capsule separation. Swelling agents are added in such a manner that swelling of body of the capsule is more when compared to that of cap. This will result in tightening of the capsule and can restrict the capsule separation. Process variables: Capsule size: Capsule size has a major effect on the release rate. For different capsule sizes with same aspect ratio and constant volume, the release rate decreases with increase in size of the capsule. This is due to the change in the surface area. The diffusion pathways are longer in longer capsules when compared with that of smaller ones. So the drug release with respect to time is much larger in smaller capsules when compared to longer ones (Siepman et al., 1999b) Capsule shape: The surface area of a capsule depends on the shape of the capsule. The capsule which have high surface area for a constant volume has potential exposure to the acidic environment in the stomach and the drug release rate is high. Capsules with near spherical shape have less surface area compared to other shape (Rekhi et al., 1999) These kinds of capsules are recommended for controlled release characteristics. Variation in the aspect ratio of the capsules can effect the drug release. By varying the aspect ratio of the hypromellose capsule the drug relase can be modified (Siepman et al., 1999b). Moulding temperature: Viscosity of the polymer base changes with temperature. At higher temperatures, the viscosity of the polymer base is less, so when the dipping pin is dipped in the polymer base at higher temperatures the thickness of the polymer attached to the pin is less due to the lower viscosity. So by altering the moulding temperature the thickness of the capsule can be controlled. Capsule Thickness: The generally assumption is that the encapsulated material release is through the capsule wall. So a thicker wall can control the release and slow the drug release. Thicker wall can also withstand drastic acidic condition in the stomach. Apart from the dissolution rate, the capsule thickness also effects the structure of the capsule. Dissolution of the capsule highly depends on the thickness of the capsule. Capsule thickness effects the swelling properties and mechanical properties of the capsules like strength, puncture force etc. The capsule thickness is controlled during the moulding of the capsules by proper attention to viscosity and temperature of the hypromellose polymer base. The dipping can be dipped twice or thrice according to the target thickness if required. Mechanism of drug release in hypromellose and gelatin capsules: The solubility of gelatin and hypromellose capsules in aqueous media is different due to difference in their permeability characteristics. This has a great effect on disintegration and drug release mechanism in both the materials (Nagata, 2002). The drug delivery is due to absorbance of water and hydration of the capsules by which the capsules dissolve and release the encapsulated contents. Gelatin dissolves in the fluids at body temperature. Further decrease of temperature ( Comparative studies of dissolution of hypromellose and gelatin capsules revealed that the dissolution of HPMC is independent of temperature but gelatin dissolution is highly dependent on temperature of solution. The release characteristics of HPMC showed that the drug release takes three times the time required for the drug release from gelatin capsules (Chiwele et al., 2000). Hypromellose capsules results in extended release of the drugs. Dissolution is only effected by first breakage of the capsule and start of release of the drug. Once the drug starts to release, the release does not depend on the capsule material. The dissolution studies proved that the HPMC capsules have longer lag time (Honkanen et al., 2001). The first rupture in case of HPMC takes long time but once the rupture takes place, the capsule disperses uniformly through exposing the drug completely to dissolution media. Gelatin capsules splits near the ends and dissolution takes place through the ends of the capsule s for a long time (Podczeck and Jones, 2002). The dissolution characteristics of gelatin capsules are almost same for all the capsules as the sources for gelatin is almost same from all the providers. In case of HPMC, each provider has its own formulations patented and specific characteristics are delivered for their gelling systems. The diffusion of gases through HPMC capsules is more when compared to gelatin capsules. The gas diffusion occurs through the gap between body and cap of the capsule, the sealing between cap and body of the capsule is weak in HPMC capsules when compared to that of gelatin capsules.

How To Maintain A Computer System :: essays research papers

How to Maintain A Computer System   Ã‚  Ã‚  Ã‚  Ã‚  Start a notebook that includes information on your system. This notebook should be a single source of information about your entire system, both hardware and software. Each time you make a change to your system, adding or removing hardware or software, record the change. Always include the serial numbers of all equipment, vendor support numbers, and print outs for key system files.   Ã‚  Ã‚  Ã‚  Ã‚  Secondly periodically review disk directories and delete unneeded files. Files have a way of building up and can quickly use up your disk space. If you think you may need a file in the future, back it up to a disk. At a minimum, you should have a system disk with your command.com, autoexec.bat, and config.sys files. If your system crashes, these files will help you get it going again. In addition, back up any files with an extension of .sys. For Windows systems, all files with an extension of .ini and .grp should also be backed up.   Ã‚  Ã‚  Ã‚  Ã‚  Next any time you work inside you computer turn off the power and disconnect the equipment form the power source. Before you touch anything inside the computer, touch and unpainted metal surface such as the power supply. This will help to discharge any static electricity that could damage internal components.   Ã‚  Ã‚  Ã‚  Ã‚  Now you should periodically, defragment your hard disk. Defragmenting your hard disk reorganizes files so they are in contiguous clusters and makes disk operations faster. Defragmentation programs have been known to damage files so make sure your disk is backed up first.   Ã‚  Ã‚  Ã‚  Ã‚  A good thing to do now would be to protect your system from computer viruses. Computer viruses are programs designed to infect computer systems by copying themselves into other computer files. The virus program spreads when the infected files are used by or copied to another system. Virus programs are dangerous because they are often designed to damage the files in a system.

Sex Education in American Schools Essay example -- America Public Scho

Every year in America, one million teen girls become pregnant and at least three million teens become infected with an STD (Donovan, 1). Though these numbers slightly fluctuate, problems facing American adolescents today, like HIV/AIDS, other STD’s, and teen pregnancy. This means that some needs to change. These problems will decline when sex education is revamped everywhere in America, by making the curriculum completely comprehensive in addressing problems facing adolescents today such as teen pregnancy, STD’s, rape, pressures and emotions dealing with sex, and give teens good communication skills. Right now teachers approach these subjects on their tip toes, dance around the issue, and not fully give out all the information. Meditation. To find out what needs to be change we should look at what is being taught. In Levine’s book, Harmful to Minors, she discusses the curriculums being taught in public schools today, by breaking them down into two categories. Abstinence-only and abstinence-based. Both of these programs do teach about health, physical education, home economics, and biology, but both can really differ when dealing with the different â€Å"sensitive† issues. Abstinence-only education, promotes postponing sex, but when it comes to issues like contraception, it is taught how affective it is, but not where to get it. Abstinence-only curriculum promotes more education through the family, instead of through school. Some abstinence-only curriculums do deal with comprehensive issues, but mainly try to avoid the subject. Some teachers even make up lies to try and scare kids away from sex. Abstinence-based is more comprehensive. The curriculum does promote that abstinence is the only 100% full proof method, but ... ...’s. Numerous sexual partners later, she found out she had Chlamydia. These are great examples when comprehensive sex education is needed. Kids will be kids, and kids have sex. Educating the youth will only have them making wiser decisions and protect themselves. There is no doubt that change is needed. Comprehensive sex education is the answer. Informing the youth will have positive repercussions for not only the youth, but for society in general. Evidence does not lie. Abstinence-only education does not work, and there is no evidence that supports it. Comprehensive sex education does not give adolescents the wrong ides. They already have the wrong idea, but still America doesn’t get it. Educating is the only way we have a fighting chance. When the youth has all the information and resources available, they will make informed responsible decisions.

The Myth of the American Dream :: ESL Essays

  Ã‚  Ã‚  Ã‚   Striving for success nobody thinks that he follows somebody’s well planned way. A single person or a small group does not create the notion of success, but it is created by our whole society. The myth of instant wealth is one of the most popular myths society uses. In fact society uses the hope of instant wealth to make people work harder. The fact that they do not have a real chance of obtaining that wealth by competing in the economic system stays invisible to the most of people.     Ã‚  Ã‚  Ã‚   When we imagine a successful person, we see a person, who is working on some company and is busy working all the time. This person has a nice car and beautiful apartment or house, where he does not spend much time because he is so busy. We get this impression since we were born. Movies, magazines, and news – everything supports this notion of a successful person.     Ã‚  Ã‚  Ã‚   Interesting thing is that notion of success did not change very much since the beginning of last century. There happened some variations but the idea stayed the same: working hard will bring you to the top of the society circle. This idea became very popular in the end of eighteen hundreds thanks to the stories, written by Horatio Alger. In spite of similarity of all his books, his works had an edition of hundred thousand copies. Simple idea of getting into upper class circles starting from the very down, was accepted by society as a model of success achievement. People have believed that if they will work hard than they can achieve success.     Ã‚  Ã‚  Ã‚   Richard Hunter, main character of the book â€Å"Ragged Dick† has been a typical example of American notion of success. According to this book everybody can became well recognized and financially prosperous if they would work hard and show their merit. Dick, â€Å"a young gentleman on the way to fame and fortune,† as his friend Fosdick from the story â€Å"Ragged Dick† describes him in the end of the story, climbs on the social ladder, starting from the very bottom. Being absolutely illiterate and having no money in the beginning, Dick gets into business circle of people, by working hard and showing his merit. Why did this story become so popular in the end of eighteenth century? People always need hope and this story gave hope to everyone. If person from the lowest class of society could get into the high class then everyone else was able to do the same.

Business of Tourism

Globalization the process, accelerated by communication technologies, of turning the world into a single community & In particular, a single market. It has been described as ‘boundlessness'. Structural change a temperamental transformation tot some activity or institution which brings about a change in its essential quality. Or structure. It Is permanent, there Is no return to the prior level or state. Temporary change an alteration in a certain measure or condition In an activity of institution to which it is likely to return later.Causes for structural change globalization, competition, economic crisis, health crisis, social changes, customer preferences, war/ terrorism. Tourism market consists of all potential customers sharing a particular need/want, who might be willing/able to satisfy it by buying a tourism product. Sustainable development achieving growth In a manner that does not deplete the natural & built environment & preserves the culture of the local community.Sust ainable tourism all forms of tourism development, management & operations that malting the environmental, & concern Integrity & well being of natural, built ND cultural resources, Socio cultural a term used to Indicate impacts bringing about change to a social organization of a group of people as well as more fundamental reorganization of society organization. Sustainable transport doesn't harm the environment, or use resources that cannot be replaced_IEEE. Cleaner trucks/cars- alternative engines, alternative fuels (unleaded) non combustion systems.Reducing aircraft emissions-technology advances, regulations, air traffic management, dealing with noise-creating footprints e. G. Aircraft Boeing has a footprint of 14 SMS squared, airbus AAA noise footprint 1. Km squared. Travel ; tourism industry the aggregate of all businesses that directly provide goods and services to facilitate business, pleasure ; leisure activities away from home environment (smith 1988) Impacts of tourism = eff ects of tourism * Positive impacts = benefits of tourism * Negative impacts = costs of tourism * Impacts are often referred to as Sculptural Impacts, Environmental Impacts, Cocoon Impacts. Model a theoretical system of relationships, which tries to capture the essential elements In a real word situation. Modes are useful tools for general analysis, discussion and as an aid to understanding more complex systems. System an assemblage or combination of things or parts forming a complex or unitary whole. Descriptive models replicate selected features of a situation ; alma to show how It operates. Predictive models rearrange a descriptive model so that causes ; outcomes can be determined, predictive modes prescribe a pathway towards a certain outcome.Planning models allow for alternative course tot action to be evaluated. Key issues of models aim to simplify reality, select key issues to prevent ; explore, they deed to be applied, tested and reviewed regularly to maintain relevance. Poli cy – outlines a series tot desired outcomes and objectives (values) Planning – Examines alternative method of reaching those objectives Tourism Policy and Planning – For both the sort ; long term Is required to balance all stakeholders wants and needs Unplanned Tourism – Uncommon, unpopular, unwanted.Unhappy most community Has social/environmental/economic impacts Visitor Management – The strategies ; action programs used to control ; influence tourism supply and demands to achieved fines policy goals Planning ; operational techniques – site management ; people management Selective – Targeting visitors who are socially and economically more attractive to a destination or other destination Demarcating – Marketing designed to reduce or regulate the number of people visiting a location Objective – Specific, measurable results that an organization plans to achieve in a given period Strategies – the meaner of achieving objectives Tourism Involves: psychology, sociology, economics, anthropology, business administration, geography, ecology, law and education.Industry – Refers to a group tit similar economic output in terms of product Tourism Industry – Described in both terms of the production and consumption of goods and services Businesses in Tourism Industry Primary Trade – Transport, Hospitality, attractions, activities and retail Business indirectly involved – Petrol stations, bakeries, car dealer, banks, newsagents rent – Heavily involved but not included as part of the industry Tourism: The sum of government and private sector activities which shape ; serve the needs and manage the consequence of holiday and business travel the central activities so the overspent and private sector include promotion planning, providing services and preventing impacts Hospitality – Specifically refers to a focus on provision of accommodation and commercial catering se rvices Tourist – A person who travels from place to place for non work reasons. Promotion – Structure in the generating region: ticketing services, travel agents, tour operators.Need to influence potential tourists Transport – All meaner of traveling within the destination Infrastructure – Development that provides for tourism (ranging from large to small) Markets and destinations Markets are where the tourists are before they reach the destination * Market demand is affected by needs and wants * Markets need to be identified and defined * Information about the market needs to be gained Destination – the place that tourists visit and experience Key Characteristics of service – 1. Intangible (can't be sampled) 2. Inseparable (provider is part) 3. Variable (Individual experience) 4. Perishable (can't be warehoused) 6 Steps for Segmentation of Tourist Demand: 1. Identify 2. Profile 3. Rank 4. Select 5. Assign Priorities 6. Access Target Market Models can be: descriptive, predictive, prescriptive and planning

Stonehaven Case Analysis

Stonehaven, Inc. Case Analysis March 19, 2013 Part A For this part of the analysis, consider each department in the Gdansk factory in isolation. Assume that the rest of the production system has no impact on the department you are considering. Assume that material handling times are negligible and ignore variability in processing times. 1. For the typical 100-pair batch, what is the daily capacity and manufacturing lead time within each of the following departments? a. Cutting 8 hrs/day x 60 min/hr = 480 min/day Machine 1 = (0. 05 x 4)(100) + (5. 25 x 4) = 41 min/batch Machine 2 = (0. 5 x 4)(100) + (5. 00 x 4) = 40 min/batch Machine 3 = (0. 04 x 4)(100) + (4. 00 x 4) = 32 min/batch Manufacturing Lead Time (MLT) = Since the machines work simultaneously, the MLT is 41 min/batch. Capacity = 480 min/day ? 41 min/batch = 11. 7 batches/day x 100 pairs/batch = 1170 pairs/day b. Stitching 8 hrs/day x 60 min/hr = 480 min/day Group 1 = (100/4) x 5. 0 = 125 min/batch Group 2 = (100/3) x 3. 0 = 100 min/batch Group 3 = (100/2) x 2. 5 = 125 min/batch Manufacturing Lead Time (MLT) = Because the components can’t move to the next group until the previous group is finished, the MLT is 5. min + 3. 0 min + 125 min = 133 min/batch. Capacity = 480 min/day ? 125 min/batch = 3. 84 batches/day x 100 pairs/batch = 384 pairs/day c. Lasting 8 hrs/day x 60 min/hr = 480 min/day Station 1 = 100 x 0. 7 = 70 min/batch Station 2 = 100 x 0. 6 = 60 min/batch Station 3 = 100 x 1. 0 = 100 min/batch Station 4 = 100 x 0. 9 = 90 min/batch Station 5 = 100 x 0. 3 = 30 min/batch Manufacturing Lead Time (MLT) = Because the components can’t move to the next group until the previous group is finished, the MLT is 0. 7 min + 0. 6 min + 1. 0 min + 0. min + 30 min = 33. 2 min/batch. Capacity = 480 min/day ? 100 min/batch = 4. 8 batches/day x 100 pairs/batch = 480 pairs/day Assumptions: My calculations are based on the assumption that the stamp time in the cutting process is per component. Therefor e, the time given is the time it takes to stamp 1 of the 4 components on one machine. Another assumption I have made is the workers performing the stitching are all equally paced. It takes each worker the exact same amount of time to perform their duties and pass the product along to the next group. 2.If the batch size were reduced to 10 pairs, what would be the daily capacity and MLT within each of the following departments? a. Cutting; b. Stitching; c. Lasting d. Cutting 8 hrs/day x 60 min/hr = 480 min/day Machine 1 = (0. 05 x 4)(10) + (5. 25 x 4) = 23 min/batch Machine 2 = (0. 05 x 4)(10) + (5. 00 x 4) = 22 min/batch Machine 3 = (0. 04 x 4)(10) + (4. 00 x 4) = 17. 6 min/batch Manufacturing Lead Time (MLT) = Since the machines work simultaneously, the MLT is 23 min/batch. Capacity = 480 min/day ? 23 min/batch = 20. 9 batches/day x 10 pairs/batch = 209 pairs/day . Stitching 8 hrs/day x 60 min/hr = 480 min/day Group 1 = (10/4) x 5. 0 = 12. 5 min/batch Group 2 = (10/3) x 3. 0 = 10. 0 min/batch Group 3 = (10/2) x 2. 5 = 12. 5 min/batch Manufacturing Lead Time (MLT) = Because the components can’t move to the next group until the previous group is finished, the MLT is 5. 0 min + 3. 0 min + 12. 5 min = 20. 5 min/batch. Capacity = 480 min/day ? 12. 5 min/batch = 38. 4 batches/day x 10 pairs/batch = 384 pairs/day f. Lasting 8 hrs/day x 60 min/hr = 480 min/day Station 1 = 10 x 0. 7 = 7 min/batch Station 2 = 10 x 0. 6 = 6 min/batchStation 3 = 10 x 1. 0 = 10 min/batch Station 4 = 10 x 0. 9 = 9 min/batch Station 5 = 10 x 0. 3 = 3 min/batch Manufacturing Lead Time (MLT) = Because the components can’t move to the next group until the previous group is finished, the MLT is 0. 7 min + 0. 6 min + 1. 0 min + 0. 9 min + 3 min = 6. 2 min/batch. Capacity = 480 min/day ? 10 min/batch = 48 batches/day x 10 pairs/batch = 480 pairs/day Assumptions: (Same as question 1 because all we changed was the batch quantity. ) My calculations are based on the assumption that the s tamp time in the cutting process is per component.Therefore, the time given is the time it takes to stamp 1 of the 4 components on one machine. Another assumption I have made is the workers performing the stitching are all equally paced. It takes each worker the exact same amount of time to perform their duties and pass the product along to the next group. Part B Now consider the factory as a system, and take into account interactions between the departments. 3. Assuming production is done in 100-pair batches, what is the factory’s daily capacity? Cutting 41 min/batch Stitching 133 min/batchLasting 33. 2 min/batch Capacity of the Factory = 480 min/day ? 133 min/batch = 3. 6 batches/day 4. What is the total MLT for a 100-pair batch? MLT Cutting= 41 min/batch Kitting= 10 min/batch Stitching= 133 min/batch Steaming= 6 hrs x 60 min = 360 min/batch Lasting= 33. 2 min/batch TOTAL MLT= 577. 2 min/batch Part C 5. How would you go about deciding the appropriate batch size for the Ston ehaven factory? What factors would you consider? How do they interrelate? (You may wish to do some calculations, but concentrate on thinking conceptually. 6. Focus only on your highest priorities for improving the production process at Stonehaven’s Gdansk factory (be specific). Explain why they are important. What actions do you recommend? How would you implement your recommendations? What do you predict will be the consequences? The most important factor a production manager must consider when determining the appropriate production level of a good is the efficiency of the process. A manager must determine what level of production utilizes the available resources to the fullest extent possible.Each step of a process will always be restrained by the other steps of the process as well as the available raw materials. As a production manager for Stonehaven, I would first analyze the individual steps of the process to make each individual step as efficient as possible. Then, I wou ld look to see how each step affects the others. It looks as though the stitching and lasting processes produce the same amount of shoes regardless of the size of the batch. Due to this fact, it seems as though the cutting process is where management should be focusing on and working towards bringing this step in line with the others.The cutting process can produce significantly more product than what the other two processes can handle. This makes me believe that we could utilize just two of the three machines. One could be devoted directly to the left shoe cuts and the other to the right shoe cuts. This would not only help with down time but also cut the expense of running a third machine. The third machine could be sold or kept on hand as a backup. There currently is no back up. If one of the machines fails, the entire process is held up and zero shoes are being produced.This would create a shortage of shoes on the shelf for customers to buy and increase the likelihood that the cu stomer will buy from someone else. If there was a back up machine, there may be a small delay in the process but significantly shorter period of time while the backup is getting up and running. The stitching process could be improved upon as well. It seems as though we could add another employee to Group 1 and decrease the amount of time it takes to process each batch to the same amount of time it takes Group 2 to process a batch.This would effectively eliminate the down time Group 2 currently experiences when waiting for product from Group 1. Another employee could be added to Group 3 to produce the same results. This would effectively decrease the amount of time the entire batch gets moved onto the next step in the process. The only aspect of the lasting process that I see could be improved upon is the distribution of duties. Significant wait time could be eliminated at this stage in the process if one employee took on more duties that would even out the amount of time at each sta tion.Or, additional employees could be used to separate the duties the employees are currently performing. Either way, each station would be waiting less time to receive the product and thereby possibly increasing the amount of production for the entire facility. Now that we have analyzed each step individually, we must now look at the entire process as a whole. Stitching is the step of the process that takes the most amount of time to perform. The key is to find the best batch size that complements the other processes in respect to this step.The smaller the batch in the stitching process, the quicker the product is passed through the process to the next step. The manager must determine the appropriate batch size so that there is minimal wait time between the stitching and lasting processes. Some other ways to improve this process is to configure it in such a way that the process runs smoothly without significant wait times. There isn’t really anything the employees in the ot her stations could be doing to create value to the process while they are waiting on more products to produce.So, the most important goal of the manager is to figure out a way for the entire process to run fluidly. Once this is achieved, inventory between the stations would be decreased to zero. The process would be so perfectly timed that the product would arrive at its destination at the exact time it is needed. This is the ideal goal of a production manager. The fewer inventories being held, the less cash is being held up on the shelf and the more is being sent out the door. The most important aspect of this process to the production manager is making sure the process is configured in the most efficient way.This specific process should be altered to bring the cutting process in line with the rest of the steps. However, if the manager had the funds to significantly increase employees in the stitching and lasting areas, these could be brought back in line with the cutting and Stone haven could produce significantly more shoes than they are currently producing. However, the issue at hand in this scenario is the amount of funds that this will require. The best way to increase revenue is by removing one of the cutting machines, increasing a couple employees in the stitching department and realigning the duties in the lasting department.