Cost, Profit and Cost Function Essay Example | Topics and Well Written Essays - 1000 words

Cost, Profit and Cost Function - Essay Example did not have adequate information regarding cost, profit and the various nuances of cost of the company, the profit and also cost functions. So in order to give them a complete understanding of the various methods of determining the cost function, relationship between cost and profit have been discusses, the basic concepts of cost function has been explained and then the methods for determining cost function has been evaluated. Cost, Profit and Cost Function There are many factors that are included in profit planning, such as cost, profitability and volume. Here the focus would be only on cost and profit. Cost is inversely proportional to profit, that means lower the cost, higher the profit (Jayapandian 2008, 393). The revenue curve is controlled by the customers, while the organization can only control the cost curve. The fluctuations in the variable cost changes the slope of the cost curve, but the increase of fixed cost may totally wipe out the profits of the company. Variable cos t has high frequency of fluctuation than fixed costs. When the cost of the company equals its generated income, then it is termed as breakeven point. The margin above this point is the profit of the company (Kolitz, Quinn, and McAllister 2009, 301-303). Cost functions are nothing but economic formula that replicates the functions of the output and input prices. In a layman’s language we can say that it simply involves finding the cost of materials for production of a particular quantity of goods. Cost function is actually a mathematical explanation which estimates the changes in cost with the levels of change related to such cost. For example: actives involved in preparing the operating machines and production runs. Cost function can be explained through graphical representation in which measurement of activity levels, such as machine hours required or the total amount of goods produced in the given time can be assessed (Horngren 1967, 308). There are various methods of calcu lating cost function, such as engineering, visual fit, regression, and account analysis. The engineering analysis is past experienced based review of cost in a systematic manner. Visual fit as the name suggest is a representation of data in a scatter diagram. Regression analysis includes mathematical formula to ascertain the cost equation that fits the data best. High low method utilizes linear algebra for the determination of fixed and variable costs, but the results are not reliable. Lastly, account analysis deals with analyzing the accounting records and determining the behavioral patterns (Whittington and Delaney 2007, 398-399). Conclusion Cost and profit go hand in hand. Cost of the company needs to be reduced to increase profit. Cost functions include functions like planning and controlling the various activities of the organization and accurately estimates the projected fixed and variable cost. There are various methods that are utilized to estimate the cost function such as regression method, engineering method, account method, visual fit method, high-low method, etc. The usage of each of these methods depends on the data available and the type of analysis required by the manager. Presentation 6 Introduction In this presentation the relationship between volume, costs and price would be explained so as to show the effect of changes in each element on the other. Bond & ltd. wanted to project the changes in profit figures due to fluctuations in volume and cost. So in this presentation an explanation of all these terms would be sated for the management to understand the concepts carefully. Cost, profit and volume can be represented graphically and also in the form of equation. Graphical representation is easier for managers to understand, as they can easily

The Art of Data Visualization Essay Example | Topics and Well Written Essays - 500 words

The Art of Data Visualization - Essay Example For example, rotating and rearranging flowers on Photoshop could add a new meaning in art. Both artists use a similar technique to display their skills. They use computer programs like Photoshop to create and alter figures, shapes and sometimes images of real persons. However, their work is quite different to one another. Golan Levin uses data to visualize things on computer software Joshua Davis maps the drawings onto a computer. Holism is referred to parts of data that is summed up into a whole. It establishes that the whole is greater than parts as a whole helps to give a better and clearer picture. The creativity of both the artists relies on the whole, which is showed through parts of pictures, figures or data of any sort. Sometimes data is too complex to be analyzed by traditional applications because of the size and magnitude of it. Such types of big data are broken into parts, just like shown in the art of Golan Levin and Joshua Davis and then analyzed after being arranged. One really interesting work by Golan Levin shows the visualization of data in terms of music. Music is displayed in the form of shapes that changes as the beat, rhythm and volume of the music changes. For example, a triangle would become bigger if the volume of the music is raised (Levin 0 min. 33 sec.). The artist might have tried to experiment with the music stabilizer that shows the velocity of volume and bass in music. It  is not something new as mostly we all know or have seen a music stabilizer. It is an instrument that indicates how high or low the music is playing on rhythm and base. However, Golan Levin adds creativity by combining music with shapes. In order to recreate the project, I would use a computer and some software to make changes on one of the current projects by Golan Levin. I am interested in experimenting with the hidden world of noise and voice project of his in which he uses different shapes to indicate music. I would like to replace

Air Crash Investigation Essay Example | Topics and Well Written Essays - 3750 words

Air Crash Investigation - Essay Example This report also aims in making recommendations for improving the system and reducing the failure rates. Table of Contents ABSTRACT 1 1.0 Introduction 4 2.0 Description of the Accident 5 3.0 Narrative of Events 5 4.0 Structure of Investigation Report 6 4.1 Executive Summary 7 4.2 Factual Information 7 4.2.1 Mission 7 4.2.2. Sequence of Events or Narrative of Events 7 4.2.3 Sequence of Crash or Response of Accident 7 4.2.4 Description of Damage and Injuries 8 4.2.5 Wreckage Report 8 4.2.6 Operational History 8 4.2.7 Compliance with Directives 8 4.2.8 Training, Qualifications and Certifications 8 4.2.9 Management of Record 9 4.2.10 Opportunities for Prevention of Accident 9 4.2.11 Mission Risk Factors 9 4.2.12 Emphasis on Safety 9 4.3 Analysis 9 4.4 Findings 10 4.5 Recommendations 10 5.0 Major Points and Findings of Investigation Report 10 6.0 Evaluation of Recommendations 12 7.0 Changes to Global Civil Aviation Regulations 15 8.0 System Operation 16 Conclusions 1 Recommendations 1 Lis t of Figures Figure 1 : Percentage of Causes for Air Accidents 5 Figure 2 : Leading Edge Horizontal Sabilizer Separation from Embraer 120 11 Figure 3 : Function of Horizontal Stabilizer 17 Figure 4 : Aircraft Pitch Movement 18 Figure 5 : Effect of Airfoil Shapes on Lift 19 Figure 6 : Horizontal Stabilizer of Embraer 120 19 Figure 7 : Loss of Leading Edge of Horizontal Stabilizer 21 Figure 8 : Fault Tree Analysis of Continental Express Flight 2574 1 Air Crash Investigation Continental Express Flight 2574 Details of Accident 1.0 Introduction According to Annesure 13 of Convention on International Civil Aviation (2010), also known as Chicago Convention, an aviation accident is â€Å"an occurrence associated with the operation of an aircraft, which takes place between the time any person boards the aircraft with the intention of flight until such time as all such persons have disembarked, where a person is fatally or seriously injured, the aircraft sustains damage or structural failure or the aircraft is missing or is completely inaccessible†. The purpose of air crash investigations is to determine the reasons for accident and make safety recommendations to avoid recurrences and if possible preserve life. Its aim is not to apportion blame and liability if any on an individual or organization. Safety Boards are assigned the mandate to carry out these investigations; however, these are not regulatory bodies since approval and implementation of regulation is within the domain of Federal Aviation Authority (FAA) and Civil Aviation Authority (CAA). According to Boeing (2010), majority of the aircraft accidents were causes by pilot or flight crew error indicating a high percentage of human factor, followed by defective equipment or component that made up 14% of the total while less than one-third the human factor as shown in figure below: Figure 1 : Percentage of Causes for Air Accidents 2.0 Description of the Accident Continental Express Flight 2574, a domestic flight, was scheduled from Laredo International Airport in Laredo, Texas to Bush Intercontinental Airport in Houston, Texas on 11 September 1991 with 12 passengers and two crew members on board. Nearly at the end of their 55 minutes flight to destination, aircraft crashed in a corn field near Eagle Lake, Texas due to structural failure. Texas

Reflection on christianity Essay Example | Topics and Well Written Essays - 250 words

Reflection on christianity - Essay Example Loving the Lord God with all the heart, mind and soul is expounded in the law given to Moses where people are supposed to honor God first and foremost. Making graven images for people to worship is an act of dishonor to the God who made all things therefore, God commanded against it. Moreover, God teaches the people not to dishonor Him with their words but to praise Him with their lips instead and also to follow his footsteps, resting on the The second greatest commandment on the other hand encompasses the other commandments in the Law of Moses. It instructs the people how they are supposed to show their love and respect to each other by not murdering, slandering, nor committing adultery. The commandments do not just mention respecting people but it also tells them to regard what they own with respect by not coveting their neighbor’s house, wife, menservants and maidservants as well as his other belongings. Since undoubtedly, everyone would want to be loved, the second commandment simply says to love other people as one would love

Physicians Assisted Suicide Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Physicians Assisted Suicide - Research Paper Example In addition, the practice would lessen the urgency to develop new medicines designed to prolong life. Those who oppose the practice on religious grounds argue that it is ‘playing God’ therefore sinful. Health care professionals cite the Hippocratic Oath which forbids them from carrying out this procedure. This paper will examine the moral and ethical concerns surrounding euthanasia, clarify the meaning of the term, present arguments both for and against the practice and conclude with a recommendation to resolve the issue. The word euthanasia is from Greek origin meaning ‘good death.’ Writers of 1700’s Britain referred to euthanasia as a being a preferential method by which to ‘die well’ (â€Å"Definition†, 2007). Euthanasia describes a situation in which a terminally ill patient is administered a lethal dose of medication, is removed from a life-support system or is simply allowed to die without active participation such as by resuscitation. A doctor’s involvement in the procedure could be to either prescribe a lethal dose of drugs with the express intent of ending a life or by intravenously inserting a needle into the terminal patient who then activates a switch that administers the fatal dose (Naji et al, 2005). Physicians, lawmakers, and philosophers have debated the notion of euthanasia since the beginning of recorded history but the wide public debate regarding its legalization has only surfaced over the past four decades. In the 1970’s it bec ame lawful to draft ‘living wills’ which allows a patient to refuse ‘heroic’ life saving medical assistance in the event they were incapacitated and could only survive by artificial means (Rich, 2001). In other words, it gave the next of kin the right to direct doctors to ‘pull the plug’ if the patient’s condition was considered hopeless, a practice which is now broadly accepted. The unfortunate reality is the majority of people in the U.S. die a ‘bad death.’   A study determined that â€Å"more often than not, patients died in pain, their desires concerning treatment neglected, after spending 10 days or more in an intensive care unit† (Horgan, 1996).   Most Americans (53 percent) believe euthanasia to be not only compassionate but ethically acceptable and 69 percent would support the legalization of euthanasia according to a Gallup Poll conducted in 2004 (â€Å"Public Grapples†, 2004).   Opponents of a doctor-assisted suicide law often cite the potential for doctor abuse.   However, recent Oregon and UK laws show that you can craft reasonable laws that prevent abuse and still protect the value of human life.   For example, laws could be drafted that requires the approval of two doctors plus a psychologist, a reasonable waiting period, family members’ written consent and limits the procedure to specific medical cond itions.     

Zongshen Group Essay Example for Free

Zongshen Group Essay Chongqing, a city in central southwestern China, had a heritage in heavy manufacturing, as it was one of the centers of the Chinese defense industry, especially for vehicles. In 1980s, when the Cold War slowed, the central government wanted to reduce defense expenditure and asked some of the state owned enterprises (SOEs) to begin manufacturing civilian products. At the beginning only SOEs could get license for the business but government permitted people to go into business for themselves but they could only work as individual business operators and could not set up companies. Many of the SOEs turned to parts production. Zuo Zongshen, being a former motorcycle repairer, decided to open a motorcycle repair business in 1982 with the present condition in China. Almost all of the motorcycle industry was producing imitations of Japan motorcycles at first as they could not afford any investments for research and development. By 1992, the regulations had changed and individuals were permitted to set up private companies, so Zuo quickly set up a company to assemble motorcycle engines from purchased parts which was capitalized at CNY500,000. The parts that were manufactured by SOEs were the copies of Japanese engines. There were several hundred of these suppliers and assemblers had to figure out how to select the right ones. Being a former motorcycle repairman, Zuo knew which factories made the good ones and what were the good brands. After 3 years of assembling, Zuo was dissatisfied with the approach as it was not easy to get parts from manufacturers as they were mainly responsive to large scale SOEs. He used to use his network and sometimes â€Å"red envelopes† to get the parts. With the experience he had, he has started to make core components in house and increased the number of the components in house production as his capabilities improved. He classifies the necessity to do this in three drivers; to make a differentitation, to guarantee the supply and also to upgrade the parts as a good start for innovation. In order to improve quality and reliability of parts that it produced as well as to reduce production costs, Zongshen started applying advanced technology tools such as computer aided design and computer aided manufacturing to its product development. Besides, Zongshen also sought manufacturing consultant from former Honda employees and visited its competitors and prospective partners like Harley- Davidson in the United State. As a result, Zongshen was stood out in the common manufacturers throughout the country. In 2000, Zuo decided to build up the company group structure. They splitted the responsibilities between the departments. Then they decided that they should tap into capital markets. Becoming a world class competitor would require a lot of capital, if the company could float its stock, it would have a source of equity capital. The technique that Zongshen used to raise its financial capital is very artful. Instead of following the tradition method which is through an initial public offering (IPO), Zongshen used another technique called â€Å"Reverse Merger† or â€Å"Backdoor Merger†. The technique can be described in detail that Zongshen had a target list of companies which had an existing list but lack of assets or liabilities. Once Zongshen could attain one from the list, it would merge its assets into. This technique is very critical for the success of Zongshen. In fact, when it became the largest shareholder of a Chengdu company, it divested the assets of the origina l company and inserted its own assets from the engine company. As the result, it turned into the largest engine manufacturer in the Chinese motorcycle industry. In 2004, Zongshen added its 3rd business, another listed company in Canada. Buying PEM Technologies through Norstar Venture in Canada led Zongshen to be able to control the technology manufacturing proton exchange membranes, a key element in producing hydrogen fuel cell. Having this technology, Zongshen became very successful in manufacturing and selling e-bikes. In fact, its two subsidiaries could produce 350,000 units of e-bike a year. Its sale volume increased dramatically from 50,000 units in 2007 to 220,000 units in 2008. Moreover, Zongshen enhanced its effectiveness by collaborating with other established firms. Piaggio, for instance, became its partner in exploring rural markets. The corporation set up a new company and planned to manufacture 100,000 scooters a year. As a part of the new joint venture agreement, Zongshen would supply the company with a significant amount of parts. In fact, by 2005, Zongshen provided 35% of accessories and components of the scooter. It was expectedly increased by 50% in 2006. In 2005 the Chinese motorcycle industry still had too many manufacturers, and they were introducing undifferentiated products to the same customers. As a result the margins were too low. Zuo studied W.Chan Kim and Renee Maugorgne’s book about â€Å"Blue Ocean Strategy† which argued that firms should go after uncontested â€Å"blue ocean† market, and look for some new demand instead of chasing existind demand in hyper competitive â€Å"red ocean† markets. Zuo decided not to produce imitations; instead Zongshen launched the cyclone project to develop products with technology in order to introduce differentiated products. The original production facility was converted to a RD center and Zongshen contracted with Nova design to assist with new product designs. After spending CNY300 million, they launched first Cyclone products in 2007 and 2008. But in the markets that change was not succesfull. Consumers and retailers had doubt that Zongshen could make such good products and the blue ocean products failed. So they decided to launch â€Å"Purple Ocean† products with a higher quality than red ocean products and of course with higher prices, but still lower than blue ocean products. The â€Å"Purple Ocean† products coincided sharp rebound in profitability. Improved quality and styling helped products such as ZS250 to gain popularity. One key change for the company was implementing a new performance evaluation and incentive scheme that linked all employees’ base salary to the breakeven point of the company. For the e-bike market, traditionally lead acid batteries were used. While inexpensive and mature technology, lead acid batteries were heavy and had alimited lifetime to deep discharge cycles. Zongshen PEM was using either lead acid or lithium ion batteries. The latter gave the e-bike longer range and stronger climbing capability. As there were many entrants to the market it is easily seen that the base skills for e-bike were not hard to develop but Zonghsen was determined not to compete in high volume, so the question was differentiation. The key differentiators in e-bike industry were in several categories, and the challenge was to have required skills. The company launched a tool called â€Å"Master Apprentice agreement† with about 40 key personnel and managerial positions. Zuo was personally ta king care of those personnel and helping them to build skills and giving gifts. Also there was a career development plan for those employees. While talent had always been a challenge for Zhongsen, it is now very critical as they want to transform to e-bikes.   How did Zongshen acquire the capabilities to produce motorcycles? As noted above, Zou was a motorcycle repairer in the past. As many of the SOEs turned into manufacturing of civilian products, with the change of the laws and permissions he first became an individual business operator. After 1992, the regulations has changed and indivuduals were permitted to set up companies so Zuo set up the company. As he had experience and and was not coming from the trenches, he knew to select the best parts and Zongshen became a good assembler. After some years of assembling he decided to produce some critical parts in house and gradually he has started to manufacture more parts. He classifies the necessity to do this in three drivers; to make a differentitation, to guarantee the supply and also to upgrade the parts as a good start for innovation. Zongshen also adopted the comp uter aided design relatively earlier than the others.

History of and Importance of Handwashing

History of and Importance of Handwashing Introduction Hand washing is the removal of micro-organisms from hands using running water or alcohol rub or gel (Brooker and Waugh, 2007). It is the most effective way of controlling the spread of infectious diseases in hospitals and populated areas. The skin is a vital part of the body that acts as a demarcation between internal and external environment and hence should be kept clean all the time to prevent harmful micro-organisms from entering our bodies (Merchant, 2001). These micro-organisms on the skin can either be resident or transient. Resident micro-organisms also called normal flora are harmless and provide protection against colonization by transient organisms and are not transferred from one person to the other, however they may cause problems if the skin is damaged or if the immune system is weak (Carroll, 2001). Transient micro-organisms are transferred from one person to the other and therefore are capable of spreading infections (Carroll, 2001). Hands can appear as if they are cl ean yet they are contaminated with bacteria, therefore it is always good practice to wash hands regularly. Staff members can pass infectious diseases to patients and patients can also pass diseases to staff members or other patients. Since this is a major issue the author will review hand washing as a means of reducing the spread of infections. The review looks at why hand washing is still an important matter; its historical perspectives, proper hand washing techniques, and the benefits it can bring to patients if practiced properly. The historical background of hand washing explains clearly that most health professionals are found to be the most usual transporters of the bacteria to patients, even though they know that the secret of controlling infections is proper hand hygiene. The production of hand washing liquids dates back from as early as the 19th century when in 1822, Labarraque, a French pharmacist carried out experiments to demonstrate that liquid chloride solutions could successfully eradicate the smell coming from human dead bodies (Safe Care Campaign, 2007). In 1825, Labarraque then recommended the use of these chemicals in hospitals by doctors handling people with contagious diseases in order to moisten their hands but no one followed the instructions (Safe Care Campaign, 2007). In 1846, Dr Ignaz Semmelweis did research on why the ward where medical students were working had a high rate of deaths in comparison to the ward were qualified midwives were working. The results showed that medical students who were having their lectures were rushing to the ward without washing their hands. Instead of washing their hands they were going straight to the patient in the ward. As soon as the error was fixed the death rate started to decline (Advanced Scientific Health, 2010). Recently a report was published by Pfizer limited which showed an increase in MRSA infections. It is believed that 9% of patients in hospitals in England (About 100,000 people per year) have healthcare associated Infections, many of which are due to MRSA. There are between 6,000 and 7,000 MRSA bloods stream Infections each year in patients in NHS hospitals in England. In 2005 in England and Wales, 1,629 deaths Certificates mentioned MRSA as a contributory factor; and MRSA was cited as the main cause of death in 467 of these cases (Pfizer limited, 2009). With this high rate of current MRSA cases in hospitals it is imperative that patients in hospitals, their families and their carers have the correct information avail able to them so that they know the risks of not adhering to proper hand washing techniques when they are in hospitals. Hand washing Technique The NHS is encouraging all health professionals to practice proper techniques of washing hands. It is argued that the more emphasis stressed on this message, the more effective it becomes. The technique of proper hand washing is very essential in any health care setting. The routine or social hand washing technique mainly emphasizes on thorough washing of hands using liquid soap and running water for 15 to 20 seconds without missing any part. It is recommended to use liquid soap delivered from a dispenser as compared to bar soap as the latter may be contaminated by the previous user or the surrounding atmosphere (Carroll, 2001). The diagram in figure 1 in apprentices section below shows most parts of the hands that are frequently missed during hand washing (Nazarko, n.d). These areas that are missed during hand washing may harbor micro-organisms that will then spread to other patients. There is no specific time that is recommended to wash hands. Hands are washed depending on a specif ic task. Health workers are advised to wash their hands when starting or finishing their shift. Several activities such as wound dressing are prone to bringing bacteria to patients and therefore, hand washing should be practiced regularly. Nurses must make sure that they wash their hands before and after they attend another patient and also whenever there is any contact of blood and body fluids or after removal of gloves. It is also advised to wash hands before and after eating and drinking and also after visiting the toilet (Wilson, 2006). Micro-organisms are very tiny such that they cannot be seen with a naked eye. Therefore, it is encouraged to maintain have short nails as longer ones easily accommodate micro-organisms that may be difficult to remove during hand washing. The areas under the watches, rings and bracelets also harbor millions of bacteria; therefore it is also advised not to wear these in hospitals (Gould, 2009). Nurses are also encouraged to wear short- sleeved clot hes. Technological developments have also led to the introduction of next generation ultraviolet light based training kits which are being manufactured by a company called Glowtec. These kits are used to check if the hands have been properly washed before attending to a patient (Glowtec, n.d). This form of hand washing technique is used to see a microscopic dirty surface that cannot be seen by a naked eye therefore improving the control of the infections. Hygienic Hand disinfection is another technique that is used to remove or destroy transient organisms from the skin by washing hands with an antiseptic such as chlorhexidine gluconate, iodine or triclosan for 15-30 seconds and should be carried out before aseptic procedures or during a pandemic situation (Carroll, 2001). The diagram in figure 2 of the appendices section below shows how to wash all areas of the hands to remove any visible contamination of the hands and also to effectively remove transient organisms (Nazarko, n.d) Surgical hand wash is also another technique that is used during surgery which involves the scraping or brushing of the nails with a sterile nail brush, washing hands and forearms with an antiseptic for a minimum of 2 minutes and then drying with a sterile towel (Carroll, 2001). This technique therefore removes transient organisms and reduces the levels of resident organisms. Hand drying is also another vital technique that involves using paper towels, the warm air dryer or sterile towels. This procedure is very important because micro-organisms are spread from one person to the other easily in wet conditions than in dry conditions and drying also reduces the risk of developing sore dry skin (Gould, 2009). Benefits to Patients Patients are the most vulnerable people who are supposed to be taken good care of in a health setting they benefit a lot from hand washing program. It prevents them from cross infection disease among themselves and those who are in care of them (BMJ, 2010). Hand washing is a process that brings hope and assurance to a patient. The patient is likely to recover better. But if a patient is in pain he or she is likely to develop physical or mental problems. If the patient is affected mentally he or she is prone to depression therefore it means the patient would develop infection due to stress environment. Another benefit of hand washing is short stay in hospital, which will enhance the social and economic (no loss of wages) part of a patients life. Eventually this would improve the quality life of a patient. Hand Hygiene Policy (2010) According to Hillingdon Annual Public Health Report 2004 a lot of death can be avoided by hand hygiene, especially those disease caused by MRSA and again a patient is also able to escape isolation in hospitals. Since patients with serious MRSA are sometimes isolated from other patients because of fear of infecting others. Therefore hand washing scheme enhances the well being of a patient. Conclusion Finally the best way of decreasing infectious diseases to patients is hand wash hygiene. According to one of the pioneers of hand wash Dr Semmelweis death rates in hospitals can be lessened if all health professionals follow the idea of handwash. Pathogens and bacteria that are found on hands are said to be the most dangerous causes of infectious diseases unless they are decontaminated by using proper hand technique patients would still suffer the same fate of olden days. According to my opinion hand washing has been discovered long time ago as a main factor of causing infectious diseases but up to now it is still not practiced in a proper way. If each nurse as an individual and those in care underpin the scheme of hand technique in an appropriate manner, they can be a massive change that can bring safety and trust to patients, their families, and friends and even to nurses themselves. Therefore children must be educated on how and when to wash their hands starting from the toddlers so that they can get used to the principle as they grow up. More education training is needed to all health professional on regular basis. If every step of hand washing is followed according to rules and regulations there can be a drastic change in all health care settings.