Corporate Finance FE Essay Example | Topics and Well Written Essays - 1250 words

Corporate Finance FE - Essay Example It is of note that only the long-term operating assets are incorporated in the calculation for the NOWC but not the short-term investments to be considered as the operating working capital because these short term investments are assumed to be interest bearing securities that to an extent do not directly finance or result from the operations of the Widget Corporation. 2. Seven years ago ABC Inc. issued a series of $1,000 bonds (i.e. Par = $1,000) @ 10% compounded semiannually for a term of 30 years. Additionally, the bonds are callable with a call premium of two coupon payments. Today, the market rate is 10% and each single bond is trading for $844.76. If ABC Inc. wants to raise new debt today, what would be ABC’s marginal cost of debt? Assume no significant change in ABC’s bond rating. Supposing there is no substantial alteration in the ABC’s bond rating means that today’s market bond rate is the same as market rate at the issuance time of the bond, thus the bond trades at par value ($ 1,000). The rate 12% calculated shows the market rate of the bond at present. Remember the present bond value is $ 844.76. The 12% rate represents the Yield To Maturity and therefore is a good estimation figure for the marginal cost of debt. 3. Considering Stand Alone Risk and the calculation of the Coefficient of Variation (CV), you are to develop a series of at least five historical returns for a financial asset and from these returns you are to calculate the CV for this financial asset. 4. You are bearing in mind making an investment in form of a project. The initial cost (I0) equals $1,200. In return for this initial outlay, you will own the rights to three future cash flows: CF1 = $300, CF2 = $400, and CF3 = $500. First, if the appropriate discount rate for this investment is 12%, what is the NPV for this project? Second, what discount rate would

Business and The Law - Promisory Estoppel(case of Central London Essay

Business and The Law - Promisory Estoppel(case of Central London Property Trust Ltd v High Trees House Ltd - AND -Golfing Case - - Essay Example However, Lord Denning went on to state that the promise could nevertheless be enforced with respect to the war period because the: Promise to accept a smaller sum in discharge of a larger sum, if acted upon, is binding notwithstanding the absence of consideration: and if the fusion of law and equity leads to this result, so much the better. 5 Thus, the ruling in the High Trees case not only provided an exception to the Foakes v Beer case, but also to Pinnel’s Case which was affirmed by Foakes v Beer. ... Lord Denning then defined the parameters for the High Trees doctrine: The principle stated in the High Trees case...does not create a new cause of action where none existed before. It only prevents a party from insisting upon his strict legal rights, when it would be unjust to allow him to enforce them.7 What can be gleaned from the ruling in High Trees and Lord Denning’s explanation of the ruling in Combes, is that promissory estoppels permits a defence of detrimental reliance in the UK for the purpose of suspending a previous commitment. However, it will not be available as a defence in respect of a new action where consideration does not exist. Put another way, the High Trees significance is that it accommodates a detrimental reliance defence for suspending previous contractual commitments. The ruling in High Trees was adopted by the Supreme Court of South Australia in Je Maintiendrai Pty. Ltd. v Quaglia [1980] 26 SASR 101. In this case, the court held that in order for the doctrine of promissory estoppel to succeed it must be shown that the promise could or would â€Å"result in some detriment and therefore some injustice† to the complainant.8 Clearly, the High Trees case opened up a method by which the doctrine of promissory estoppel could be used to prevent unconscionable avoidance of commitments. In Waltons Stores (interstate) Ltd v Maher (1988), another Australian case, the court took the High Trees doctrine a step further. In this case, the limitations to the use of the doctrine of promissory estoppel established by the High Trees case were both removed on the grounds of injustice. High Trees established that in order for a promissory estoppel defence to be successful there must be a pre-existing legal relationship between

The End of Innocence and the Darkness of Mans Heart Essay Example for Free

The End of Innocence and the Darkness of Mans Heart Essay In Lord of the Flies the author, William Golding, proves his theory on the origin of evil in many ways, a main one being the changes in the character Jack. William Goldings theory states that civilization prevents corruption. Human nature is evil but with the conformity of moral values, supervision, and consequences good behavior can be developed. In his book England is involved in a nuclear war and must evacuate the people. A group of private school boys who are presumably evacuees are dropped from a plane just before it crashes onto an uninhibited tropical island. The boys are called together by Ralph, who with Piggy had found a conch shell. As the other boys gather onto the platform another party of the boys, the choir, marches up. They are described as something dark or a creature, one of the first signs of evil. All of the boys decide to elect a leader and the candidates turn out to be Ralph and Jack, head of the choir. When the boys choose Ralph, Jack becomes enraged and Ralph offers that the choir be the hunters. Jack is then seen as the head hunter and a primary destructive force. Ralph, Jack, and another boy, Simon, head out to survey the land and assure that it is indeed an island. The boys have their first confrontation with a pig. Jack is unable to plunge his knife into living flesh and bear the sight of flowing blood because of the taboo of the old life. He is ashamed and vows next time he will kill it as he drives his knife into a tree trunk. This is one of the first major signs of troubleof the evil ahead. Jack is later described as an animal, symbolizing the loss of civilization. His transition into evil begins as the influence of his former life and the conditioning wears off. The hunters go out to hunt again and proudly return with meat. Jack remarks with pride about how they cut the pigs throat though he twitches as he speaks of this achievement. Jack has not yet reached the point of savage abandonment. His mind was crowded with memories; memories of the knowledge that had come to them when they closed in on the struggling pig, knowledge that they had outwitted a living thing,  imposed their will upon it, taken away its life like a long satisfying drink. Another sign of the conditioning wearing off is when Jack hits another boy, Piggy, breaking his specs, because Piggy stood up for himself and his beliefs. On another hunt, Ralph joins the hunters. This hunt is unsuccessful because the boar gets away but Ralph is proud that he hit the pig in the snout with a spear. After this failure the boys start a reenactment with Robert, a smaller boy, acting as the pig. They begin the chant Kill the pig! Cut his throat! Kill the pig! Bash him in! and an overwhelming dark desire possesses the boys. This is the final stage before Jacks transition into complete evil. When Jack is angered that the boys do not want him as leader he travels to the other part of the beach and forms his own tribe. He informs the tribe that they are going to forget about a so-called beast and hunt. This hunt is an electrifying success. The boys hunted a helpless sow and as the afternoon wore on, hazy and dreadful with damp heat; the sow staggered her way ahead of them, bleeding and mad, and the hunters followed, wedded to her in lust, excited by the long chase and the dropped blood. When they kill the pig there is no twitch of conscience as Jack has fully transitioned into an evil boy. While the boys are feasting on this pig and celebrating their victory Simon is searching for the so-called beast. He runs into the pigs head on a stick, an offering for the beast. The head transforms into the Lord of the Flies (literal translation for Beelzebub, the chief of the devils) and Simon has an imaginary conversation with it. The Lord of the Flies explains that it is part of Simon, part of the boys, part of all men. He is the reason things are what they are. He is the demonic essence that is taking over Jack and the other boys in their evilness. Simon discovers that the beast is harmless and he goes running to the boys to share the good news. The boys are starting their dance when Simon runs into the middle of the circle and is killed. Simon becomes the suffering victim of the boys and of Jacks madness. The final and climactic abhorrence is the hunt for Ralph. Jack does not like Ralph because Ralph does not like Jack so Jack convinces the other boys that Ralph is the beast in disguise. Jack had previously explained to the boys that Simon was not really Simon, but the beast in disguise and he had not really been killed. At this point Jack is completely evil, as there is no civilization. In Lord of the Flies Jacks changes into evil prove Goldings theory about the origin of evil. As civilization is destroyed, Jack becomes more and more evil. At the beginning of the book one can see such signs of trouble as his reaction the failure to kill the pig. Into the middle the conditioning wearing off is rather apparent, as he becomes prone to killing. Finally, by the end Jack is completely evil. It is the end of innocence and the darkness of mans heart.

The circumstances of the incident

The circumstances of the incident The circumstances of the incident The incident took place on Ward X during an early shift. During this shift, there were 30 patients on the ward, in four six bedded bays and six side rooms. During the early shift, Mrs J was seen on the ward round and was discharged by the medical team. Mrs J had had a laparascopic cholecystectomy five days previously, but had developed pneumonia in the postoperative period and therefore had been on the ward much longer than had been anticipated. Mrs J was a 58 year old semi-retired librarian with a history of hypertension treated with antihypertensive medication. During this morning shift, the staff nurse, Nurse M, looking after all the patients in Mrs Js bay, was asked to discharge Mrs J by the medical team, and Mrs J was very relieved, and called her daughter and son in law to pick her up ‘after lunch. Mrs J needed medications to take away (TTAs), and needed her discharge paperwork completing, and her community nurse needed to be informed to attend her at home the following day. Nurse M had two other patients to discharge that day, and had to provide care for three other patients, two of whom had had surgery the previous day. Nurse M carried out the medication round in her bay at 8 am and at 2pm. At four pm Mrs Js daughter approached me to ask why her mother had not been discharged yet. She was considerably distressed, as her mothers stay in hospital had been much longer than anticipated. The perceived delay in her discharge had upset the patient and her family. Nurse M stated that she had started the discharge but been too busy to complete it during her shift. She therefore handed over the discharge to the afternoon shift nurse, Nurse F. Mrs J was discharged at 6pm. The next day, her daughter telephoned the ward to complain that Mrs J was discharged without her anti-hypertensive medication. The actions taken As the ward manager, I spoke to the patients daughter and apologised for the discharge taking so long, and for the failure to provide essential medication to take home. I spoke to Mrs J and to the community nurse, Nurse P, in order to ascertain whether there had been any adverse effects on the patients condition. Mrs Js daughter had visited the GP the following morning and obtained a replacement prescription, and so Mrs J missed only one dose, and one delayed dose of her antihypertensive medication. No adverse impact had been identified. Following this incident, I reviewed the case notes of Mrs J, and all the patients in B Bay on Ward X, to ensure that there had been no other oversights or omissions. I reviewed the discharge documentation for the second patient discharged that day, Miss T, and found that all was in order. A review of the discharge notes for Mrs J showed that the TTA prescription had not included the antihypertensive medication. The staff involved Nurse M, a Band 5 nurse with 3 years experience. Nurse F, a Band 5 nurse who joined the ward 3 months previously. The ward manager, a Band 7 nurse. Nursing Assistant L, a trained HCA with eight years experience on this ward. The patients involved Mrs J, a patient recovery from healthcare associated pneumonia after a laparascopic cholecystecomy. Five other patients in B Bay on Ward X: Mrs T, Miss S, Mrs L, and Ms K. Other important aspects and considerations that you consider necessary The ward was full that day, and there was one member of staff missing for part of the morning shift, due to sickness. The omission in the medication order can be localised to the Senior House Officer who signed the TTA request, but Nurse M should also have identified that the medication was missing, either at the time of completing the form. Nurse F should have identified the omission when she checked the medication with the patient at the time of discharge. Both nurses were questioned and given a verbal reprimand. B) Essay As a ward manager, observing the behaviours of staff working together within a ward team, I have often noticed that the discharges which are ordered at the time of the ward round early in the morning are often not completed until the evening, even when the discharge is relatively uncomplicated. I have also noticed that this reflects other aspects of care, where staff do not seem to be working particularly quickly or efficiently. In this situation, the behaviours of staff seemed to indicate on first analysis that staff were overworked and that this omission occurred because of pressure on staff. However, this author also identified other issues which were contributing to the situation. The first was that I noticed how staff had fallen into particular behavioural patterns during the early shift, which meant that they often left discharges to be completed by the afternoon staff. It seemed that certain staff tended to fall into this pattern, and to fall into particular routines in which they slowed down at certain times during the shift. I noted as well that there were a particular sub group of nursing staff that behaved like this, and that there was a divide between some staff and those who supported them, such as the HCAs. For example, Nurse M and HCA L did not seem to work well together, and I noted that Nurse M had addressed this by simply not delegating too much to the HCA. This situation seems to indicate that not only is good management and leadership needed in order to address what seems to be an issue of staff behaviours, but also good leadership in relation to team working, warranting an analysis and examination of team working. It became apparent that as the ward manager I would need to use the position of team leader to destabilise the ingrained patterns of work behaviour and break up old alliances which might be impeding effective teamworking. The conclusion reached was that this was not simply a case of finding fault with Nurse M and Nurse F, but deconstructing the circumstances that had led to this mistake. The fault in this situation is diffused amongst all of those involved. This included a potential that it was my own leadership at fault in this situation, requiring me to bear some of the responsibility for this occurrence. Leadership within nursing requires a complex set of skills and attributes, and the ability to manifest a strong nursing leadership role. However, it is challenging because of the nature of the work, which can change rapidly at any point in time, and the nature of staff relationships and behaviours, which can involve complex interactions and inter-dependencies. Fostering effective teamworking in this situation, and leading a team towards better ways of working, is likely to be very challenging even when circumstances are good, but in a position where the team is one staff member short, it could be argued that this makes it all the more challenging. A manager needs to understand the whole theory and practice of teamworking within organisational contexts, and also understand how they can, in their own leadership role, support effective team working and improve care standards, whilst at the same time supporting staff dealing with a heavy and complex workload. All nurses must manage themselves and their own workloads, and must develop self-awareness of their own traits, strengths and developmental needs. This author has spent some time reflecting on their own capabilities, and has identified their own strengths, such as the ability to carry out routine tasks swiftly, and to prioritise care and workloads for better patient care and more efficient management of tasks and demands. Another personal strength is the ability to take a wider view and to consider a range of factors affecting workload, and team working, including skill mix and different personalities and how well staff work together. The academic field of organisational studies has long been concerned with leadership, theoretically and practically. It is a multifaceted concept and has been considered from a variety of perspectives, including an applied perspective with specific reference to nursing. There tends to be a polarisation of theoretical perspectives, in which some believe that some people are destined to be leaders because of pre-existing or innate abilities or proclivities, traits which make them ‘natural leaders; and some theorists posit that leadership is comprised of a set of skills and applied knowledge that can be acquired and used by anyone trained in them (Day, 2000, p 5810.) Thus some would argue that the people possessing ‘natural leadership skills and abilities would be the best leaders, while others continue to assert that there is no difference and that a person given the right training and development could be a good leader (Green, 2003, p 27). There is merit in both perspectiv es, in that a natural leader who has had training could be argued to be potentially better than one who has no predisposition to leadership, and that there may be some people who are not suited to leadership roles who should not aspire to be leaders. However, suggesting that leadership is something which can be learned is a much more egalitarian viewpoint, which could be positive, but could result in people being placed in positions of ‘official leadership against their own preference, when their true strengths lie elsewhere. In relation to the situation described in the report in part A, this author would argue that not only did the team require more directive leadership at this time, but that such leadership should be visible, tangible, and strong enough to ‘lead the team towards more collaborative and supportive working practice (Bishop, 2009). The literature shows that clear lines of command are important, but clear, strong leadership is more than simply exercising control over people, it is a more bilateral approach which engages leader and team in managing work in such a way that it improves patient care (Clegg, 2000, p 31). However, Grint (2005, p 1467) also shows that in order for leaders to be effective, they must be able to motivate others to follow them and to go in the direction they have indicated. Thus leadership is more than simply guiding people, it is about engaging with them and making them ‘want to follow the lead. Thus it is possible to see that authority does not locate an individual as a leader on its own; the ‘followers must accept and support that leader as well (Grint, 2005 p 1467). In this case, however, the leadership activities must be very much directed at leading a diverse team of disparate individuals with a range of personalities, skills, and experience, as well as differing roles and responsibilities. Breakdowns in interprofessional working and communication are common within healthcare settings (Sutcliffe et al, 2004, p 196). However, organisational theories argue that there are typical types of roles that individuals assume within teams, and the seminal theory here is Belbins (1993 p 57) team roles theory. This theory is useful because it allows the leader to ‘manage individual team members and motivate the team more effectively through understanding their team roles (Belbin, 1993 p 57; Johansen, 2003, online). Anything which enhances team working is likely to improve communication, enhance team and individual worker efficiency and effectiveness, and improve nurses satisfaction with their working lives, contributing to better practice standards ( Amos et al, 2005 p 10; Clegg, 2000 p 31; Dimeglio, 2005 p 110), and this author would also argue that exploring how to manage a team more effectively would help them to contribute to their own professional development (Bandura, 1994 p 71). Thus, an effective leader could look at the eight defined roles which are said to occur within organisational or workplace teams, some of which may be fulfilled or enacted by more than one person at a time, just as one person may enact more than one role at once (Belbin, 1993 p 57-59). Effective teams ideally demonstrate that members enact all the roles defined (Johansen, 2003, 0nline). Belbin (1993 p 57-59) describes these as: the calm, confident chairman, objective but unemotional, generally infallible; the impatient shaper, coercive, unafraid of confrontation, directive and apt to destabilise the status quo; the problem-solving plant, an imaginative highly intellectual and creative individualist who may not be a good team player; the informativ e and enthusiastic resource investigator, good at communicating, who can find their motivation flagging; the analytical and evaluative monitor evaluator, who can be perceptive but cynical; the reliable company worker, who plods along and reaches goals but can display a degree of rigidity and inflexibility; the mediating team worker who tends to be both a communication hub and coordinator, using effective social skills to propel the team along; and the conscientious and deadline-conscious completer-finisher (Johansen, 2003, online). This author would argue, however, that the team leader could occupy one or more of these roles, but if they have a manager, may not be viewed by others to be a member of the team, per se, and so not included in the ‘inventory of team members. Thus there may be a flaw in this theory, because there is no specification of how a manager would necessarily fit in to this team. Team leadership in this context, however, is complicated by the nature of healthcare practice in which teams are comprised of multiple professionals and occupational groups (Cockburn, 2004 p 66), and thus a nurse manager of a ward has to be able to be a leader across different professions and disciplines and may need to display different leadership behaviours in order to achieve this (Murphy, 2005, p 128). One way in which a ward manager might lead in this manner is through quality management activities (Sale, 2005), and the use and promotion of evidence for practice, a process which requires multiprofessional input (McLaren et al, 2002 p 444). But in this case, the issues which have proved most challenging relate to the ways in which team members manage their workloads, and perhaps also the ways in which different professionals within the team communicate with each other. The manager must lead the team towards a new way of functioning effectively, by ensuring all members are functioning appropriately and fulfilling their different roles (Amos et al, 2005 p 10). This author would argue that within the greater quality agenda, the common goals of quality assurance should act as a common driving force for better teamworking (Martin, 2003). In this instance, the ward manager will be working to encourage better multidisciplinary team (McFadzean, 1998), but this does not mean that they have the authority to discipline some members of the team, such as the medical staff, and here, historical divides between the professions may impede the process of team building (Hartley, 2002, p 178). In this situation, Nurse M and Nurse F should both have felt able to ask for assistance if they were busy, and should have checked the TTA prescription, but the ultimate responsibility lies with the SHO who wrote the prescription. Legally, however, all are accountable. But the ward manager, as team leader, would lead by example by accepting the shared accountability of this omission (Sheldon and Parker, 1997, p 8). Thus the nurses should be supported to accept this shared responsibility, but at the same time should be supported to examine their practice and see where it could be improved, such as looking at how they could improve delegation skills so that basic tasks are more effectively delegated and advanced nursing responsibilities are better met (Curtis and Nichol, 2004, p 26), and how they can improve interprofessional communication (Kenny, 2002). This author would argue that nurses in the ward setting are all required to develop leadership skills, as an extension of their professional role, and this equates to the concept of distributed leadership (Harris and Spillane, 2008, p 31), and within this model, leaders are developed, supported and empowered, at every point on the scale of organisational hierarchy. Therefore, in this situation, the ward manager would need to understand who acts as what within the team roles inventory (Belbin, 1993), and also support leadership skills to emerge amongst staff at every level. The HCA described in this scenario, for example, exerts significant influence, and these leadership attributes could be harnessed to improve team working, rather than destabilise the hierarchy. The role of the manager as team leader in this scenario is clearly also to provide feedback and evaluation to the team, and to explore the consequences of these circumstances in a way that should prevent it from occurring again (London et al, 1999, p 5). Providing feedback in an empowering manner can improve performance within the team (London et al, 1999, p 5), and therefore, evidence from available research would suggest that effective leadership would achieve this through multiple approaches. Research suggests that optimal team performance and quality of care requires good leadership (Beech, 2002 p 35; Green, 2003 p 27). This seems to require what Murphy (2005 p 128), describes as charismatic, transformational leadership, in which â€Å"charismatic transformational leaders espouse intellectual stimulation and individual consideration to empower staff and enhance patient care. Nurse managers that develop and foster transformational leadership can surmount oppressive traditions and confidently navigate a complex and rapidly changing health care environment.† However, leaders such as this will continue to struggle with the hierarchies and inherited culture and traditions of the professions (Murphy 2005 p 128). But it is through such activities that proactive nurse leaders mould the future of nursing itself, and contribute significantly to the quality agenda (Shirey, 2006, p 256). Thus the leader in this scenario needs to re-educate the team, and act as a role model fo r the team to develop their own leadership capabilities (Cummings et al, 2008, p 240). It would appear that in this situation, the risk involved was avoided by luck rather than judgement, and it is imperative that the ward manager addresses the behaviours and habits which have led to the omission concerned. However, it would not be enough to simply discipline those concerned, because multiple factors have affected this occurrence, and the staff involved will have to continue to deal with these factors in the daily working lives. Therefore, leadership will lead, guide and empower staff to be able to better address their work roles whilst managing the competing demands on their time and attention, through better self management, better communication, better team working, and with clear, motivational guidance from a true leader.

Feminist Reading of Thomas Grays Elegy (Eulogy) Written in a Country C

Feminist Reading of Thomas Gray's Elegy Written in a Country Churchyard  Ã‚   While Thomas Gray's "Elegy Written in a Country Churchyard" overtly deals with the distinction between social class and the opportunity for greatness, the poem also contains a subtle yet strong message against the dominant role of men over women in society. Gray's tone throughout the poem is permeated with regret and a sense of something lost, voicing his opinions clearly against social class prejudice. This emotional tone, when applied to the stereotypical roles of differing sexes discussed throughout the poem, portrays the injustice of inequality between males and females. Gray begins with his argument by explaining the roles of women and men, both in lower class families and in the noble houses, focusing on their submissive roles. "The busy housewife [plies] her evening care," minding the children until "their sire's return" from a hard day of work (lines 22-23). Gray depicts the work of a lower class male as a ploughman, working from morning until night at his useful toil, without ambition and wit... Feminist Reading of Thomas Gray's Elegy (Eulogy) Written in a Country C Feminist Reading of Thomas Gray's Elegy Written in a Country Churchyard  Ã‚   While Thomas Gray's "Elegy Written in a Country Churchyard" overtly deals with the distinction between social class and the opportunity for greatness, the poem also contains a subtle yet strong message against the dominant role of men over women in society. Gray's tone throughout the poem is permeated with regret and a sense of something lost, voicing his opinions clearly against social class prejudice. This emotional tone, when applied to the stereotypical roles of differing sexes discussed throughout the poem, portrays the injustice of inequality between males and females. Gray begins with his argument by explaining the roles of women and men, both in lower class families and in the noble houses, focusing on their submissive roles. "The busy housewife [plies] her evening care," minding the children until "their sire's return" from a hard day of work (lines 22-23). Gray depicts the work of a lower class male as a ploughman, working from morning until night at his useful toil, without ambition and wit...

The Impact of the Triangle Shirtwaist Fire Essay -- American History

During the early 1900s industrial fires or accidents were common place; injuries and the loss of life may have outraged a few people but like all tragedies the outrage would pass quickly and it would back to business as usual. One such tragedy occurred on Saturday, March 25th, 1911, it was closing time at the Triangle Shirtwaist Factory and hundreds of employees were preparing to leave when a fire broke out on the 8th floor trapping Jewish and Italian immigrants, the majority of them young women. One hundred and forty-six people died in futile attempts to escape the burning ten story building. The main doors were during the day kept locked and only one doorway was opened for the hundreds of employees to file out, one by one, as their belongings were searched for pilfered goods. Blanck and Harris, owners of the Triangle Shirtwaist factory, faced no consequences in regards to the unsafe working environment and the death of their employees. David von Drehle, in his book, Triangle, The F ire That Changed America, states that this particular fire changed the political and industrial landscape of the United States; it was no longer ignored by the working masses nor was it quickly dismissed by the public - the public consisted of a huge immigration population from Europe, the â€Å"transfer of labor power and brain power† that eventually lead to women’s striking in the garment industry and setting a precedent in New York (Triangle, 3, 4). Several groups like the moneyed, educated elite women, the muckrakers, the Labor Unions, and the political machines that controlled neighborhoods of New York pushed for political, economic, and legal changes to the industrial systems - in a democratic social time of reform – they were like much welcomed rain ... ...kers from hazardous environments. The changes after the Triangle Shirtwaist fire involved 4 main groups and public voters. No single group alone had the far reaching effects like the progressive movement, politically liberal and socially democratic. Without all four groups putting pressure on the legal system, the media exposing the flaws of the current industrial, political system along with the uprising that is the beginning of women’s suffrage, the labor laws would not have undergone the radical changes that are the backbone of modern day labor laws. The fact all doors must remain open and unlocked during business hours, in 21st century America, arose from the ashes of the fatal Triangle Shirtwaist fire, To the deceased, American manufacturing employees are grateful, though they may not be entirely knowledgeable about the origins of their current labor laws.

Case Study Bayfield Mud Company Essay

1. What is your analysis of the bag weight problem? The problem begin when Wet-Land Drilling, Inc. had filed a complaint that the bags it received from Bayfield were short-weight, according to previous send the weight of the bags used to be 50 pounds, however the new arrivals show a weight of 47.5 pounds per bag, causing a conflict to the company. The company present the problem as a increased of demand, hiring new employees with a lack of training, new employees occupy the night shift, where old employees check the production, however the double checking of the bag still a problem to the company. First of all we need to analyze and find the errors the process could have, caused by the increased of demand and a lack of control due the old employees, for the analysis I will use the Statistical Process Control (SPC).  ¨Statistical process control (SPC) involves using statistical techniques to measure and analyze the variation in processes. Most often used for manufacturing processes, the intent of SPC is to monitor product quality and maintain processes to fixed targets. Statistical quality control refers to using statistical techniques for measuring and improving the quality of processes and includes SPC in addition to other techniques, such as sampling plans, experimental design, variation reduction, process capability analysis, and process improvement plans. ¨(reliability.sandia.gov, Statistical Process Control) We have and average of 50 pound from older shipment, this is the correct weight that the bags should have so, X=50, also we have a standard deviation of 1.2 which is also the desired level, so o=1.2, for the determination of the bags we need to resolve this formula [pic] 0.489 and a 99.73% confidence interval Z = 3: UCL= x+ 3ÏÆ'x=50+3 x 0.4899=51.4697 LCL= x – 3ÏÆ'x=50-3 x 0.4899=48.5303 The Percentage of Bags with Average Weight within Control Limits (Per Shift) Day Shift = 23 bags/24 bags = 96% Afternoon/Evening Shift = 12 bags/24 bags = 50% Night Shift = 12 bags/ 24 bags = 50% 2. What procedures would you recommend to maintain proper quality control? I recommend making a constant control, trying to make the double checked of the bag weight, also is important for the company to create a mean and range charts guide, that will help the employees to make the control of the bags, this also will help bag packers to make and extra control to the bags, avoiding any errors in weight. Is important to buy scales in the production area and in the bag packers area, the scale will be accompanied by the mean and wage charts, reducing the errors of weight. Also use camera in the areas and training process fro new employees about the doze and the mean and wage of every bag. Reference reliability.sandia.gov, Statistical Process Control, retrieved 12 August 2010, from http://reliability.sandia.gov/Manuf_Statistics/Statistical_Process_Control/statistical_process_control.html