Monday, December 9, 2019

Coca-Cola Amatil Business Environment and Case Study Free Solution

Question: Discuss about the Business Environment for Coca-Cola Amatil. Answer: Introduction With increasing competition in the business environment, it becomes important for the business organizations to efficiently design and align its objectives and strategies in order to achieve enhanced performance and competitive advantage (Cherunilam, 2010). Thus on the basis of the above aspects the report strives towards identifying the business objectives and strategies in the context of Coca-Cola Amatil (CCA) which is the one of the largest bottlers of non-alcoholic ready-to-drink beverages in the Asia-Pacific region (Ccamatil, 2016). The company is characterized with a diversified portfolio of products that include the carbonated soft drinks, fruit juices, sports and energy drinks, coffee, iced tea, spring water, SPC Ardmona and Goulburn packaged ready to eat snacks, vegetables and products. The report also strives towards identifying the performance objectives of the company and its internal consistency that contribute towards its competitive advantages. It also analyzes the challenges faced by the company in its operations management. Finally the report provides conclusion as the summary of the findings and suggestions regarding how to overcome operations challenges. Business Objectives and Strategies of Coca-Cola Amatil Coca-Cola Amatil operates with a mission of keeping the consumers hydrated and refreshed by offering them an extensive range of beverages. Thus from the mission statement of the company it is observed that the company operates in order to achieve its objective of creating millions of moments of happiness and possibilities and in order to achieve this objective relies upon the skills, knowledge and experience of its employees (Ccamatil, 2016). Moreover the passionate employees of the company can also be looked upon as at the heart of the success of the company since they are motivated to achieve their goals with the realization of the fact that the best way to achieve their goals is to successfully achieve the goals of the organization. The company is also a dynamic and exciting organization and it inspires its employees to sieze the opportunities, innovate and grow and drive people to think out of the box by working in teams. Coca-Cola is not only committed towards its customers and employees, but also committed towards its shareholders and thus strive towards generating attractive and sustainable shareholder returns. Thus the company has built a string and sustainable business with the help of its following strategies: Strengthening Leadership The company has placed a leading brand in each NARTD category in every market. The company has increased the range of affordable packs in the market. The company has up weighted the innovative marketing levels for strengthening its brand equity. Continuously evolve its portfolio as per the changing preferences of the customers (Floyd and Wooldridge, 2007). Change in Producvity and Execution The company emphasizes upon achieving world class customer service capability. Route to market facilitates the company with diversified customers and competitive advantage (Hubbard and Seet, 2006)s. The company efficiently leverages its large scale, low cost manufacturing sales and distribution capability. In addition to the above strategies, Coca-Cola Amatil operates with a shared vision and aligned objectives of its brand partners like Coca Cola together with developing joint plans for growth system profitability and shares risk and reward with its brand partners. Operations Strategy of Coca-Cola Amatil in terms of Structure and Infrastructure Analyzing the organizational structure of Coca-Cola Amatil, it is observed that the company strives towards adopting the tall organizational structure. Thus there exist a narrow span of control and each manager has small number of employees under their control and the employees are closely supervised. The lines of responsibility and control is also clear and there exist clear opportunities of progression and promotion for the lower level of employees (TheOfficialBoard, 2016). The organizational structure of the company can be illustrated with the help of the following figure: [Source: TheOfficialBoard, 2016] The organizational team at the top of the company is passionate role models of behaviors that exhibit the companys values and deliver an organizational culture that leads the company towards success. The leaders set the direction and translate the strategy into clear standards of performance and behavior together what is expected from the team members. They are responsible for delivering the work by motivating and engaging the team members so that the objectives are achieved and value is delivered to the customers, shareholders and team members of CCA. On the other hand analyzing the operations strategy in terms of the infrastructure of Coca-Cola Amatil, it can be said that the demand for beverage products of the company is significantly influenced by factors like hot or cold weather and conduct of major events. So these fluctuations prove to be costly for the company to own and manage its own infrastructure and this created a demand on the part of the company to invest in capital infrastructure for highest potential demand (ibm, 2015). As a result the company has signed a five year deal with the tech giant IBM for the development of private cloud computing environment and this has proved to be beneficial in automating its core technology operations in the Asia-Pacific region. The company in order to achieve operational efficiency also invested in developing a core systems replacement program named as OAisys (One Amatil Information System) in the year 2012 and thus adopted the SAP technology. Moreover as per the deal, the SAP platf orm moved into IBMs private cloud and thus the SAP infrastructure is being managed the IBM (ibm, 2015). So it also facilitated the company in achieving cost efficiency in its operations. In addition the company also operates with the help of the mobile workers. More than 50% of the workers of the company are mobile and the company is also aiming to facilitate its equipment maintenance workers, the sales staff, the office staff and delivery fleet, the access to the internal system from anywhere and so this cloud based solution would prove to be beneficial in this strive. Operations Performance Objectives of Coca-Cola Amatil Cost Coca-Cola Amatil aims to minimize the cost of operation through infrastructure development and maintaining a base of skilled, knowledgeable and dedicated employees (Greasley, 2008). For example, The Company has entered into five year multi-million dollar deal with IBM on cloud agreement. Quality The Company is aimed at achieving efficiency in its operations and maintaining quality through their strict manufacturing and distribution policies and the quality and safety of all the system wide operations of the company is monitored and measured against rigorous standards. Speed The company strives towards achieving speed for on time delivery of the products at the right place and this maintained through the development and implementation of a national strategy that covers the industrial automation and electrical systems and also by maintaining an integrated supply chain management system (Krajewski, Ritzman and Krajewski, 2008)s. Dependability The company aims to become the most dependable organization for its customers and this is achieved through its effective strategies designed and implemented by its leaders, its operational efficiency and its efficient supply chain. These factors facilitate in catering as per the specific customers demand and also deliver the right products to the right customers at the right time and in right quantity. Flexibility The company also responds to the flexibility of the market and this is the reason why the company is characterized with a diversified portfolio of products top suit the varied needs of the customers (Waters, 2006). Competitive Priorities of Coca-Cola Amatil Analyzing the competitive priorities, it is observed that Coca-Cola Amatil strives towards maintaining efficiency in its operations through its infrastructure development by entering into cloud agreement with IBM, expanding its brand portfolio to serve the varied needs and preferences of the customers, transforming the logistics operations by making it more flexible for efficiently managing different product types with more complex delivery combinations, cost reduction and maintaining quality standards. Internal Consistency and its Contribution to Competitive Advantage The internal consistencies and its contribution towards competitive advantage can be illustrated as follows: Experienced management and company team Coca Cola Amatil is led by passionate role models that bring insight and inspiration for team members. The employees are valued and engaged and are allowed to be innovative and creative in their approach (Cokegrads.com.au, 2011). This has led to dedicated talent and skill pool that drives the organization towards achieving sustainable competitive advantage. Good Infrastructure The company has invested in its infrastructure development to achieve automation of the operations that enhances operational efficiency and entered into deal with IBM to achieve IT infrastructure development to support the workload and develop mobile workers. It also maintains efficient supply chain to achieve flexibility in managing complex delivery combination due to different product types. These factors has facilitated the company in achieving minimized operational cost, high quality, enhanced flexibility and dependability and high speed delivery required to achieve sustainable competitive advantage. Operations Management Challenges Coca-Cola Amatil is the manufacturer and the distributor operator of Coca-Cola in Australia and its products are delivered from 24 warehouses and 15 production facilities to more than 116,000 customers every day across Australia. Thus the major operational challenges that the company faces include the following: To efficiently maintain occupational Health and Safety To meet the specific delivery time for diversified portfolio of products (Reuters, 2009). To efficiently manage the order and delivery cycle. Suggestions for Operating Strategy to overcome Challenges Taking into consideration the above operational challenges, it can be suggested that Coca Cola Amatil should scale its logistics operations in order to accommodate the rapidly expanding brand portfolio. This can be achieved by implementing SAP and ERP in its supply chain management. This would make the logistics system more flexible. Moreover these software developments would prove to be beneficial in optimizing the ways in which the orders would be stacked on the pallets together with managing the schedule of delivery and the size and the weight of the package resulting into a fully automated system which would reduce the chances of mistakes thereby enhancing efficiency. The SAP ERP software would also prove to be beneficial in planning the loading of the containers and would be optimized for removal in the particular sequence at the customers thus reducing time in loading and unloading and achieving efficiency in the delivery system. So these aspects would not prove to be beneficial for the company in delivering the right products to the right customers at the right time and in the right quantity but would also increase the operational efficiency which would enhance customer satisfaction and reputation of the company in the market. Conclusion Thus from the above discussions, it is observed that even though Coca-Cola Amatil has managed to efficiently conduct its operations in manufacturing and delivering the products to the customers, following the suggestions might drive the company towards investments but it would prove to be beneficial and profitable in the long run. References Ccamatil. (2016). Coca-Cola Amatil: Business and its Operations. [online] Available at: https://www.ccamatil.com [Accessed 18 Aug. 2016]. Ccamatil. (2016). Our Vision and Values: Coca-Cola Amatil and its Mission and Strategies. [online] Available at: https://www.ccamatil.com/en/our-company/our-vision-and-values [Accessed 18 Aug. 2016]. Cherunilam, F. (2010). Business environment. Mumbai [India]: Himalaya Pub. House. Cokegrads.com.au. (2011). About Coca-Cola Amatil: The Company and its Competitve Priorities. [online] Available at: https://cokegrads.com.au/about-cca [Accessed 18 Aug. 2016]. Floyd, S. and Wooldridge, B. (2007). Building stratgey from the middle. Thousand Oaks, Calif: SAGE. Greasley, A. (2008). Operations management. Los Angeles: SAGE Publications. Hubbard, G. and Seet, P. (2006). Where culture meets strategy. Lindfield, NSW: Australian and New Zealand Academy of Management. ibm. (2015). Coca-Cola Amatil Improves Customer Experience with IBM Cloud: Move to SoftLayer will significantly reduce IT costs and provide greater customer engagement. [online] Available at: https://www-03.ibm.com/press/us/en/pressrelease/46507.wss [Accessed 18 Aug. 2016]. Krajewski, L., Ritzman, L. and Krajewski, L. (2008). Operations management. 2nd ed. Upper Saddle River, NJ: Pearson/Prentice Hall. Reuters. (2009). How Coca-Cola Amatil aimed to optimize: Challenges faced and Ways to Overcome. [online] Available at: https://www.reuters.com [Accessed 18 Aug. 2016]. TheOfficialBoard. (2016). Org Chart Coca-Cola Amatil. [online] Available at: https://www.theofficialboard.com/org-chart/coca-cola-amatil [Accessed 18 Aug. 2016]. Waters, C. (2006). Operations management. 3rd ed. London: Kogan Page.

Sunday, December 1, 2019

Southern Italian Renaissance vs. Northern European Renaissance free essay sample

Developing Europe into a powerhouse, the Renaissance marked complete cultural transition of Europe out of the Middle Ages and identified a societal change of values and ideas reflected in the art and literature of the time period; the â€Å"rebirth† in Southern Europe, however, differed from Northern Europe. As both the North and South had access to newly printed materials courtesy the printing press, they did share commonality of thought- both supplied predominant Christian artistic themes, had an artistic ‘center’, and provided systems of guilds and patrons. The Southern, or Italian, Renaissance began during the 14th century and â€Å"inevitably, trade and commerce brought Italian ideas northward, where they influenced the artistic traditions† beginning the 16th century Northern Renaissance (Benton and DiYanni 53). The South focused on a return to the concept of humanism and revival of idealist, classic Greek and Roman values, but the North focused on the common man and daily realities of life. We will write a custom essay sample on Southern Italian Renaissance vs. Northern European Renaissance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Centered around Florence then later Rome, aided by the patronage of the Medici family in the Early Renaissance and Popes in the High Renaissance, and inspired by Greek and Roman mythology, the Southern Renaissance movement emphasized humans (their capacities, values and worth). Italian artists made the viewer delve into the inner working of the human mind and their subject matter primarily consisted of gods and goddesses displayed with symmetry, balance, and linear perspective. Known for his goddess depiction, elegant use of flowing lines, pictorial space, and antique â€Å"revival of the nude† prohibited in the Middle Ages, was â€Å"master of line† Sandro Botticelli with his The Birth of Venus tempera (Benton and DiYinni 16). In his painting commissioned by the Medici’s, Botticelli equates Venus with Christ’s mother Mary and her birth with that of the human soul- signifying the importance of religion but not making it the only priority. Italian trade in republics gave rise to a wealthy merchant class fond of funding art that not only mixed classicism and Christianity, but elaborated and detailed wealthy and powerful people, especially Popes who were king-like figures in society. This Italian social change and rise in humanism led a shift in power to Rome and Italian artists to consider scientific principles behind individual composition such as proportion, anatomy, and perspective. For instance, ‘Renaissance Man’ Leonardo Greg 2 Da’ Vinci’s oil painting’s The Last Supper consisted of accurate anatomical proportions, even balance, and linear perspective. Da Vinci’s work also reflected interest in beauty in nature, mirroring interest in the natural, common man in artwork of Northern Renaissance. Da’ Vinci’s Mona Lisa consisted of chiaroscuro and sfmato techniques to showcase the sitter’s subtle, individual personality and high forehead to indicate noble standing. Raphael’s fresco School of Athens, commissioned by Pope Julius II, exemplifies â€Å"the Renaissance humanist’s quest for classical learning and truth† with a Roman bath setting (Benton and DiYinni 21). New emphasis on anatomy also led to glorious marble statuary and reflection of beauty in the imagination such as in David by Michelangelo. Thoughtfully proportioned for the viewer to look up at the masterpiece from a lower level, David is nude in a classic contrapposto pose universally representing every individual’s confrontation with conflict. Italian artists giving the subjects a sense of mass and volume by using knowledge of the human figure allowed for more realistic art with shadows and motion. Italian writers and philosophers were also driven to study Classical antiquity and explore mans capacity for rationality. Pico Della Mirandola’s â€Å"Oration on Dignity of Man† exhibits the Italian Renaissance fascination with mankind by relaying creation of human beings as divine, that humans are special if God made them because he wouldn’t create them to fail. He stresses that mankind is not sinful, rather all humans are special and possess the free will and the capability to be united with God. Baldassare Castiglione further demonstrates the Italian humanist tradition and â€Å"celebrates and idealizes life in court† characterizing the courtier â€Å"ideal† Renaissance man in the Book of Courtier as learned in classic culture, courageous, witty, and chivalrous (Benton and DiYanni 29). The Southern Renaissance influenced a cultural movement in Europe outside of Italy in the early 1500’s. Centered around Ghent then later Bruges and Eastern Europe, aided by the patronage of the Burgundian Dukes in the Early Renaissance and Habsburgs in the High Renaissance, and inspired by realistic portrayal of the average man’s life, the Northern Renaissance movement emphasized naturalism and living a pious, simple life. More genuine and more attached to Christian teachings of the church than art of Southern Renaissance movement, Northern European art turned its attention to portraits and domestic scenes fixated on the minute surface details and reflected belief in religious truth from nature. Court painter to the Duke of Burgundy, â€Å"inventor of oil painting Van Eyck detailed the sacrifice of the mystic lamb, symbolized Jesus’s crucifixion, emphasized bright colors and individualized people of various time periods and body types in the polyptych Ghent Altarpiece. Further use of Greg 3 extreme detail, domestic interior, and religious symbolism is in Van Eyck’s Arnolfini Wedding- a form of documentary nature and capturing the moment similar to that a photograph would. Using glazes to create light and depth of color in his painting, Van Eyck included â€Å"God’s presence on Earth† in â€Å"ordinary everyday objects† such as a mirror frame, chandelier, and bedpost (Benton and DiYanni 57). Different geophysical conditions than Italy contributed to an unhelpful environment for frescoes to dry, hence favor toward oil on wood panels. An allegorical idea of painting more than a perfect rendition as an Italian artist would, Hieronymus Bosch showcased alla prima technique in Hay Wain where humans are all out for themselves in fighting for hay (a symbol for material possessions); Bosch filled his triptych oil painting with commoners in mundane clothing revealing his concern with â€Å"the moralistic import of his subjects† (Benton and DiYanni 57). Additionally, Northern European works of art exposed a shift to emphasis on real lifestyles of people and landscape, as demonstrated in the works of Peter Brugel the Elder. Rather than pinning interest on the people in the foreground, the natural landscape background in the genre painting Harvesters is the subject rather than the peasant laborers. Capturing a moment in the daily life of hospitable peasants, instead of classic mythology or aristocracy, Brugel informally evokes the abundance of local landscape in a Peasant Wedding and juxtaposes feasting peasants, the fertile landscape, and the plenteous food of the Low Countries. Northern literature dealt strongly with naturalism and knowledge of the self and present rather than the past. Michael de Montaigne’s essay Of Cannibals criticizes his own western, European society as less civilized than cannibalistic South Americans, for they are closer to nature, living in the ideal state of humanity and portrait of Christian notion of the pure, simplistic society. Perfecting the natural, human â€Å"complex states of mind and feeling in exuberant language rich with metaphor†, was the greatest writer not only of the Northern Renaissance, but arguably of all time- William Shakespeare. One of his thirty-seven plays was Hamlet where the revenge filled and answer seeking main character Hamlet’s pensive soliloquies almost hold a mirror up to nature; Shakespeare shows the reader what being human is and how it is natural for conflicting thoughts to arise from man’s conscience. Maturing later than Italian art and literature, the Northern Renaissance highlighted naturalism. European â€Å"rebirth† of art and literature reflected a societal change of values and ideas different in the South and North. Although both had artistic â€Å"hubs†, patronage systems, and predominately Christian themes, Italian Renaissance revived humanism and classic Greek and Roman ideals while the Northern European Renaissance emphasized the natural reality and everyday life of the average man.

Tuesday, November 26, 2019

Funny Earth Day Quotes

Funny Earth Day Quotes Discussing pollution, global warming, and a dying planet can be quite onerous. To impress the urgency of the situation, and yet make matters light, you need a dash of humor. Here are some funny Earth Day quotes to make your point clear. Not only do these quotes nail the issue, but also they can stir up the masses. Today we need more hands to help us save Earth. We need to channel efforts right from the grassroot level. The powerful lobbies of wealthy industries need to be sensitized to the degradation of the environment that happens due to careless and wanton use of resources. Are we ready to clean up our act? If you think it is time to stir the hornets nest, let us work towards saving our planet. Let humor pave the way for meaningful dialogue. Dwight D. Eisenhower Farming looks mighty easy when your plow is a pencil, and youre a thousand miles from the corn field. Henry David Thoreau What is the use of a house if you haven’t got a tolerable planet to put it on? Thank God men cannot fly, and lay waste the sky as well as the earth. Stephanie Mills Environmentalists have long been fond of saying that the sun is the only safe nuclear reactor, situated as it is some ninety-three million miles away. Edward Abbey Our modern industrial economy takes a mountain covered with trees, lakes, and running streams and transforms it into a mountain of junk, garbage, slime pits, and debris. Marshall McLuhan There are no passengers on Spaceship Earth. We are all crew. Robert Orben There’s so much pollution in the air now that if it weren’t for our lungs there’d be no place to put it all. Bill Vaughn, The Portable Curmudgeon Suburbia is where the developer bulldozes out the trees, then names the streets after them. Ralph Nader The use of solar energy has not been opened up because the oil industry does not own the sun. Dave Barry Not all chemicals are bad. Without chemicals such as hydrogen and oxygen, for example, there would be no way to make water, a vital ingredient in beer. Dan Quayle It isnt pollution thats harming the environment. Its the impurities in our air and water that are doing it. Dave Foreman Our environmental problems originate in the hubris of imagining ourselves as the central nervous system or the brain of nature. Were not the brain, we are a cancer on nature. George Carlin Oh Beautiful for smoggy skies, Insecticided grain, For strip-mined mountains majesty Above the asphalt plain. America, America, Man sheds his waste on thee, And hides the pines with billboard signs, From sea to oily sea.

Friday, November 22, 2019

Word Choice Reoccur vs. Recur

Word Choice Reoccur vs. Recur Word Choice: Reoccur vs. Recur Many of the homophones we look at on this blog have completely different uses from one another. But â€Å"reoccur† and â€Å"recur† can both mean â€Å"happen again.† So are they interchangeable? Not always! There is a subtle difference between these terms, as we will explain below. Reoccur (Happen Again) â€Å"Reoccur† is a verb that means â€Å"happen again.† In fact, it is literally a combination of the prefix â€Å"re-† (meaning â€Å"again†) and â€Å"occur† (meaning â€Å"happen†). As such, we could say: Symptoms may reoccur if treatment is discontinued. Here, for example, we’re saying that the symptoms may occur again. Frequency does not matter with this term, so we can use â€Å"reoccur† even if something has only happened twice: Patrick’s back problem from last summer reoccurred. In the sentence above, for instance, we’re describing the second occurrence of something. But we’re not saying it happens regularly or frequently. Recur (Happen at Regular Intervals) â€Å"Recur† is another verb that means of â€Å"happen again.† For example: Symptoms may recur if treatment is discontinued. This sense of â€Å"recur† is thus interchangeable with â€Å"reoccur.† However, â€Å"recur† can also mean ‘happens repeatedly or at regular intervals’. For instance: Fear of technological change recurs throughout Dickens’ writing. In this sentence, â€Å"recur† implies that Dickens returns to the theme of technological fear repeatedly in his writing, not simply that he wrote about it a couple of times. So when something happens frequently or regularly, it is better to use â€Å"recur† than â€Å"reoccur.† Summary: Reoccur or Recur? While â€Å"recur† and â€Å"reoccur† are usually close in meaning, they do differ in some cases. Keep the following guideline in mind: To reoccur is to happen more than once, regardless of how often. To recur means to happen repeatedly or at regular intervals. Thus, if something happens repeatedly or regularly (e.g., the sunrise), you can say it â€Å"recurs.† But if something has happened more than once without happening regularly, use â€Å"reoccur† instead. And if you’d like more help your word choice, don’t forget our outstanding proofreading service.

Thursday, November 21, 2019

Women in Chinese society Essay Example | Topics and Well Written Essays - 1250 words - 1

Women in Chinese society - Essay Example The influence of Chinese women of the Later Empire depended on their knowledge of collective ethos and their ability to appeal to the power of the communities. The changes made by women often could have affected their individual lives or those of their close relatives only indirectly, through the mediation of the institutes of the society. The most significant example is widows who ended their lives for the societal ideals, so that the relatives of such women could have been rewarded3. Even without equality with men, Chinese women occupied a significant place in the ethical system of the country. They could have had influence when they accepted the existing laws. However, sometimes they dared to oppose laws or use them cunningly against more powerful members of the society. Thus, the firstsection of this paper deals with the consequences of acceptance of women’s place in the Chinese social system; the second section is dedicated to the means to empowerment in rare cases of women’s resistance to dominant ethical norms. The title comes from the story of Widow Wu from the section â€Å"Women and the Problems They Create†4 about a woman rewarded for her chastity, hard work, and humble behavior. It is remarkable that this was the supreme spiritual authority that rewarded widow Wu, not the society. The widow was just supported, not given extra money for pleasure; her private life also did not change at all. Still, she had more significant achievement: namely, she reached the ethical ideal which was relevant for the representatives of all genders and social classes. In Chinese society, neither women nor men were treated as independent subjects valuable for their individuality, like it would be in Western countries. It follows from â€Å"Family instructions† that young girls and boys were equally part of territorial and generational unity; they had to be loyal to family and performed irreplaceable

Tuesday, November 19, 2019

Ethical Considerations of Health Information Management Essay

Ethical Considerations of Health Information Management - Essay Example Naturally, human beings are secretive and tend to limit the extent to which certain information concerning their social and health status should reach the public ear. Societal response to healthcare services often depends on the extent to which the health care service would infringe their civil liberty. This research examines possibility of privacy violation among the medical professionals as well as the effects of such violations to the patients. Problem Statement Handling of patients’ information is critical concern in the medical practice because it affects the liberty of the patient in one side and on the other side, it dictate the ability of the healthcare profession to discharge his duty. The consequent of the above phenomena is the need to create ethical codes that define the manner in which healthcare professionals should handle the patients’ information. In practice, medical officer often request clients to volunteer information concerning their health or perso n problems. This data is instrumental in discharging the right service to the patient as well as designing of an intervention mechanism to a disease outbreak in the society (Harman, 2001). Nevertheless, protection of the patient liberty is critical in ensuring effective service delivery. In this sense, handling of the patient’s information within the stipulated codes necessary, but the code should not bar the medical professional from protecting life. Summary of Research Sources Some critics have demonstrated concerns about the use of social network among medical professionals (Thompson et al., 2011). The fact that the medical professionals use social network aggravate the danger of violation of patient’s privacy. Recent studies indicate that medical institutions have established that some unprofessional medical students post medical information in the social network thereby breaching the patient’s privacy rights. Various laws defining medical practice tend to o utlaw activities or engagements between the medical professional and the public that would lead to breach of patient’s privacy. The Health Information Portability and Accountability Act define the extent to which the medical professional can share confidential information of the patients. The relationship between medical professionals and the patients is not only instrumental in defining the nature of the service delivered to the patients, but also affects the societal perception to the medical practice. Some critics show that patients are unwilling to visit healthcare facilities if their personal information were to reach the public ear (Neurodiagn, 2012). Arguably, this finding does not only affect the patient, but also the societal values establishing the medical practice. Some studies have sought to establish the influence of trust in medical practice (Thompson et al., 2011). Such studies shows that trust between the medical practitioner and the client dictate the nature of response that the patient would give to the medical officer. Information dissemination is a critical component of the medical practice. The medical practitioners rely on the information given to them by the patients. It follows that, lack of trust or breach of trust between the parties involves elicit poor service delivery. The handling of patient’

Sunday, November 17, 2019

Master Budgeting with Supporting Schedule Essay Example for Free

Master Budgeting with Supporting Schedule Essay Cravat Sales Company, a nationwide distributor of a designer’s silk ties with an exclusive franchise on the distribution of the ties, and sales have grown rapidly over the last few years. Your have been given responsibility for all planning and budgeting. Your assignment is to prepare a master budget for the next 3 months, starting April 1st. You are anxious to make a favorable impression on the president and have assembled the information below. The company desires a minimum ending cash balance each month of ,000. The ties are sold to retailers for $8 each. Recent and forecasted sales in units are as follows: The large buildup in sales before and during June is due to Father’s Day. Ending inventories are supposed to equal 90% of the next month’s sales in units. The ties cost the company $5 each. Purchases are paid for as follows: 50% in the month of purchase, and the remaining 50% in the following month All sales are on credit, with no discount, and payable within 15 days, however, only 25% of a month’s sales are collected by month-end. An additional 50% is collected in the following month, and the remaining 25% is collected in the second month following sale. Bad debts have been negligible. The company’s monthly selling and administrative expenses are given below: Variable monthly expenses: Sales commissions (per unit)$1.00 Fixed monthly expenses: Wages and salaries$22,000.00 Utilities$14,000.00 Insurance$1,200.00 Depreciation$1,500.00 Miscellaneous$3,000.00 All selling and administrative expenses are paid during the month, in cash, with the exception of depreciation and insurance expired. Land will be purchased during May for $25,000 cash. The company declares dividends of $12,000 each quarter, payable in the first month of the following quarter. The company’s balance sheet at March 31 is given below: The company has an agreement with a bank that allows it to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $40,000. The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000), while still retaining at least $10,000 in cash. Assignments: Prepare a master budget for the three-month period ending June 30, including: * sales budget by month and in total * schedule of expected cash collections from sales, by month and in total * merchandise purchases budget in units and in dollars, by month and in total * schedule of expected cash disbursements for merchandise purchases, by month and in total * cash budget by month and in total * budgeted income statement for the three-month period ending June 30, with the contribution approach * budgeted balance sheet as of June 30 Solutions: Based on the sale forecast from April to July and the expected cash collection portions in each month (25% 50% 25%) , a sales budget ,a schedule of expected cash collections from sales, a merchandise purchases budget and schedule of expected cash disbursements were calculated and displayed in Table 1. Table 1 – Cravat Sales Company Expected sales, cash collections, and cash disbursements for merchandise purchases Unit: USD The Cravat Sales Company was expected to spend $195,750, $256,250, and $251,250 in cash for purchasing of merchandises in April, May, and June respectively. Totally, it would spend $703,250 within the 2nd quarter. In the first attempt to forecast the cash funding, we found that the company could not borrow less than $40,000 per month as agreed with the bank while maintaining the minimum ending cash balance of $10,000 at the same time. If comply only the borrowing limit, it would keep marginal cash of $2,250 in hands by end of April and suffer severe cash shortage of $37,000 by the end of May.