Chester Company Essay

A unique and interesting problem arose when one company, a monopoly within the business-to-business (B2B) sensor market, split into six companies with identical products and equal footing within the market. As Director of Finance for Chester Company, one of the newly formed entities, it is important for me to identify a strategy that will enable the company to remain viable and be successful in the future. An in-depth analysis of the industry situation report provided good metrics to project future customer desires and total market potential. In order to be successful, the strategy that the management team develops must work within the identified parameters while attempting to predict how the other five companies in the B2B sensor market will proceed. There are only two segments of the B2B sensor market: low technology and high technology. The only product Chester Company offers currently fulfills the needs of both markets but this will change as the newly formed entities revise and develop products to meet customer needs. The high tech segment is appealing but will require continual investment in research and development to maintain the standards that customers expect. It will be easier to meet the needs of the customers within the low tech segment but there will likely be more competition for market share. 1. The strategy that I would like to see the management of Chester Company adopt over the next five years is that of â€Å"niche cost leader† (Capsim Management Simulations, 2012) for the low technology segment of the B2B sensor market and to obtain thirty-five percent of that market. This will be achieved by appealing to customers’ sense of thrift. To cut prices below the competition, management should retain the current product and not invest much in research and development. Production costs must also be greatly reduced. To do this, an early investment in automation is necessary as it will reduce labor expenses in future years which will increase the margin and profitability of the company. This investment will be financed through the issuance of stock and long term bonds. I also plan to provide the marketing department with a very generous budget in the first couple of years to aggressively target the market and increase the awareness and accessibility of the product early on. Short term borrowing will be necessary to finance operations and provide a cash cushion to prevent the need for an emergency loan. 2. There is a great chance for Chester Company to earn good profits within the low tech segment over the next five years. Although the price of the product must be kept to a minimum this will be offset by decreasing costs which increases the contribution margin. Also, there is greater demand for products in the low technology segment of the B2B sensor market which is expected to increase approximately ten percent each year. However, Chester Company shareholders may realize a loss in the first year due to the high marketing budget and cost of labor because the automation rating is low. Unfortunately, some sacrifices will need to be made early on to realize greater profits in the long term. 3. The product that is most important to the success of Chester Company is Cake; the product currently being produced. During the first year of business, this product will have the ability to appeal to customers across both segments of the B2B sensor market and will ultimately become the favored product of the low tech segment. Management will take advantage of the dual appeal of Cake in the first year by taking a portion of both the low tech and high tech markets in an attempt to retain some profitability. Ultimately, the product will be positioned so that it takes a large portion of the low tech market and will likely not take any portion of the high tech market by the fifth year. The plan that I developed focuses primarily on the success of the company for the next five years as there will be a lot of volatility in the market and further projections are impossible to make at this time. It is difficult to predict how the competitors within the B2B sensor market will be positioned which makes it essential for management to decrease costs as much as possible and increase market share within the low technology segment of the market. My advice to the rest of the management team is to avoid the appeal of developing a new product for either market early on and to avoid the high tech market altogether within the first five years because it will be difficult enough to remain profitable and succeed without squandering business assets on developing a product which will have little chance of being profitable within that timeframe.

Health Care System and Policies Research Paper Example | Topics and Well Written Essays - 2500 words

Health Care System and Policies - Research Paper Example Below are significant highlights of healthcare policies in America that are sequenced in a timeline: a. 1798 – Legislatures passed the act for the establishment of federal network of hospitals to serve the sick and disabled seaman or merchant seaman. This is considered as the foundation of the current US Public Health Service (US National Library of Medicine, 2012); b. 1862 – Former President Abraham Lincoln appointed Charles M. Wetherill, a chemist, to head the Department of Agriculture and established the Bureau of Chemistry which became the foundation of Food and Drug Administration (FDA) (US National Library of Medicine, 2012); c. 1871 - US government created the office of Surgeon General (formerly known as Supervising Surgeon) for the Marine Hospital Service (US National Library of Medicine, 2012); d. 1878 – Legislator passed the National Quarantine Act to focus on quarantine functions (US National Library of Medicine, 2012); e. 1887- The federal government established and opened a one-room laboratory at Staten Island tasked to conduct extensive study on diseases and inspired the creation of National Institute of Health (US National Library of Medicine, 2012); f. ... 1906 – The Pure Food and Drugs Act was legislated to regulate the safety of medicines made and sold by pharmaceutical industry (US National Library of Medicine, 2012); i. 1912 – Former President Theodore Roosevelt wanted the establishment of Children’s Bureau to deal with issues on child exploitation (US National Library of Medicine, 2012); j. 1921 – The federal government created the Bureau of India Affairs Health Division which became the foundation in the creation of Indian Health Service (US National Library of Medicine, 2012); k. 1930 - The government institutionalized the National Institutes of Health as an independent office from Public Health Service’s Hygienic Laboratory (US National Library of Medicine, 2012); l. 1935 – Legislators passed the Social Security Act (US National Library of Medicine, 2012); m. 1938 – The Federal Food Drug and Cosmetic law was legislated (US National Library of Medicine, 2012); n. 1939 - Federal pr ogram and activities on health, education and health insurance were consolidated when Federal Security Agency was established (US National Library of Medicine, 2012); o. 1946 - The government institutionalized the Communicable Disease Center which became responsible on the Centres for Disease Control and Prevention (US National Library of Medicine, 2012); p. 1953 – Under the administration of former President Eisenshower, the Department of Health, Education and Welfare was established in 1953. Anent to its operational specialization, the Department of Education Organization Act was legislated to make the office totally independent. DHEW was renamed as Department of Health and Human Services officially in May 4, 1980 (US

Introduction of economic scarcity Essay Example | Topics and Well Written Essays - 500 words

Introduction of economic scarcity - Essay Example For example when computers came in and became a household name, if any person is still computer illiterate, won't he or she find that getting a job has become close to impossible. In the same way, if a country has been producing things with old technology for a long time and there comes a new technology that not only creates efficiency but also gives better results, don't you think people will demand the products made by new technology. Then a producer using older technology will go out of demand and his products will become obsolete. This is how scarcity appears as and when a new discovery or invention is made. But it is important that the new technology be very significant and life changing. On the island, they have found that a new invention is likely to revolutionize the way things are done on the island. The problem is should this invention be adopted If yes, then how should this be accomplished Keeping these points in mind, the council must create a plan that would address the key issues knowing that this technology has to be adopted. In order to reduce resistance and make people more open to the acceptance and adoption of this technology, it is critical that they are made aware of the benefits of this technology. When computers came, they were not adopted by everyone in a single day but people came to embrace this new technology as and when they learned o

Disappearing Technology of the Twentieth Century Essay

Disappearing Technology of the Twentieth Century - Essay Example Steam locomotive being the most influential example of steam engine technology, its disappearance from the modern railroad deserves to be reflected on. According to Lindqvist, the general perception about history of technology holds that â€Å"the initial stages of growth and development of new technologies are far more interesting than the boring routine maintenance and depressing dismantling of older technological systems.†1 However, research on older technological systems helps us not only to analyse the dynamics of industrial demands but also to understand the contemporary political and social values. Moreover, economic analysis of the decline of a technological system may have extremely useful implications for the future technologies. This paper is divided into four major parts: Introduction, Literature Review, Analysis and Conclusion. Reputable scholarly resources and contemporary literature of twentieth century have been used for research and reflection on the topic. Ca ses of USA and UK have been discussed with special emphasis. Research Question: Give an account of a disappearing technology of the twentieth century. Why has its use decreased? Literature Review The steam engines have been part of a gigantic technological system which dominated the world almost throughout the twentieth century. ... acilitated political organisation, industrial production and transportation, Theoretical Perspective: Innovation can be regarded as the driving force of technological development which is designed to meet the socio-economic demands of the populace. So, too much emphasis on the developmental phase of a technological system may appear to be natural; but this is not a wise option always.2 â€Å"We know, for example, more about the first automobiles and the infancy of the automobile industry than we know about the dominating transportation technologies at the same period.†3 But the importance of an older technological system lies in the fact that it may not be necessarily abandoned at the introduction of a new system. Although cases of exponential decline of a technology are known, older and modern technologies do exist in our world side by side. Illustrating the American charcoal industry, Schallenberg has put forward that evolution, adaptation and survival are the key phases in the life cycle of a technology which may eventually culminate at a slow or exponential decline.4 In the case of steam engine technology, the pace of phasing out the steam locomotives has been fast in some countries (e.g., Britain, USA, etc.) and slow in some other countries (e.g. India, China, etc.). The extent of once powerful steam engine technology has been truly international and impressive. Evolution of Steam Locomotives: Steam locomotive capable of passenger conveyance was invented by the British engineer George Stephenson in 1825. Hence UK can be regarded as the first country in the world that developed its steam powered railway system. In USA, steam locomotive was first operated in the year 1829. Subsequently, locomotive manufacturing industry started off in the country. In the 1830s and

Islamic ceramics Essay Example | Topics and Well Written Essays - 1500 words

Islamic ceramics - Essay Example This is in part has been attributed to the influence of science and technology in ceramics and pottery traditions which coincided with the scientific renaissance of the 10th and 11th centuries (Fehervari, 2000). The innovation of the period mark not only the development of the craft but give insights to how cultural and scientific development impact society together. Islamic ceramics and pottery have been traced to the 8th century, developing in key Middle Eastern civilization centers such as Iraq, Persia and Syria. Excavation indicated that most artifacts from the period were mainly utilitarian and had only used basic glazing methods. However, by the late 8th and the early 9th century, the glazing became a common practice and there was significantly increase in artistic competencies which included the introduction of lusterware production. Excavations in Basra, Damascus and Fustat show intricate ceramic painted walls using blue as a predominant color, a traditional that will eventually be a characteristic of Islamic ceramics and pottery. According to Lane (1947), the Abbasid dynasty, early supporters of Mohammed and Islam, utilized ceramics and pottery as a means to promote their political power as well as the religion, which became the foundation of the concept of an â€Å"Islamic† tradition of pottery. The period also provides documentation on the trade with China which is major influence to artisans. Aside from trade, there was also an exchange in technology and styles which reached a high during the Seljuk dynasty with the arrival of the Mongol invasion but which subsequently declined with the decline of the Mongol Empire. This level of interaction would only be augmented once more in the 15th century peaking during the Tang dynasty (Meri & Bacharach, 2005; Fehervari, 2000). One of the key features of Islamic ceramics and pottery is in the use of glazes which allowed artisans to create an opaque, metallic-like finish to

Management, Motivation, & Leadership Essay Example | Topics and Well Written Essays - 500 words

Management, Motivation, & Leadership - Essay Example They then employ every strategy in pursuance of the target (McGrath, 2011). Eagles know and stick to their moral principles. An eagle will never feed on dead meat, however, hungry it is. Great leaders know and stick to their principles irrespective of the prevailing circumstances. Honesty to oneself and others is a virtue for any successful leader (McGrath, 2011). The eagle family is one of a kind where the male has to persuade the female well enough before they can mate. This may involve building nests that the female has to approve and to be patient enough to the teasing of the female eagle. As a leader, you need to develop persuasion skills so that you can withstand the competition in the market. Sometimes, as a leader you have to go extra mile to win the trust of your followers or partners when trying to cut a business deal (McGrath, 2011). The eagle character is to use challenges to its advantage. For instance, when there is a storm and every other bird is hiding the eagle uses the storm to rise higher. This character is an important principle for any successful leader. When something unexpected happens to alter your plan, and then a great leader seeks for an opportunity in the challenge t achieve greater dreams (McGrath, 2011). A female eagle makes decision based on trust that is developed over time. She tests teases the male with twigs to test his commitment before mating. A great leader makes a decision after thorough search of relevant information and evaluation of probable risks involved (McGrath, 2011). An eagle coaches the eaglets to fly by either throwing them out of the nest or taking them to heights, release them and then follow them to catch them before they can fall to the ground. A good leader should be able to model others for future leadership (McGrath, 2011). Both the male and female eagles participate in the building of a nest where the female lays eggs. The female lays eggs and protects them while the male builds a

Controlling Police Through Litigation Essay Example for Free

Controlling Police Through Litigation Essay Police departments draft and implement policies and procedures to provide consistency and eliminate ambiguity in department practices. These are guidelines are for staff and officers to follow in a variety of different situations. Police policies and procedures may have the force of law, or be considered by a court or jury in determining whether an officer acted lawfully in the line of duty. Procedures related to employee actions can also be subject to legal scrutiny in some cases. A lack of policies on issues involving the community may result in unlawful and inconsistent police action. These adverse actions can create a negative reaction within the community, and open the police officers within the department to legal liability. Michael Lyman quoted Section 1983, â€Å"Every person under color of any statute, ordinance, regulation, custom, or usage of any state or territory, subjects, or causes to be subjected, any citizen of the United States or any other person within the jurisdiction thereof to the depravation of any rights, privileges, or immunities secured by the Constitution and laws, shall be liable to the party injured in an action at law, suit in equity, or other proper proceeding for redress.† (pg. 270) Basically, this means that police officers are prohibited from violating any person’s civil rights. Section 1983 is a tool for a citizen to use to sue another for a violation of civil rights. Some elements must be met in order to be subject to liability through Section 1983. First, he questionable liability or violator of Section 1983 must be a person†. A police department, state agency, or other legal entity, cannot be subject to liability under the statute. Second, the liable â€Å"person† must have been acting under the color of authority when the accused violation took place. A police officer who unlawfully beats a suspect in the commission of an arrest would be acting under the color of law. Finally, the accuser does not have to prove that the â€Å"person† intended to deprive him/her of their Constitutional rights, but only that there was a deprivation. For example, a subject who was beaten by a police officer can sue that officer for excessive force, without proving it was the officer’s intention to violate his rights, but only that the officer intended to beat him. In some cases an officer’s supervisor can be held liable because he/she is responsible for the negligence of that officer. This is known as vicarious liability, or â€Å"imputed negligence† (freedictionary.com). For example, a gang member who shoots and kills another person during a hold-up is responsible for the murder, but other gang members may be held vicariously liable for the same murder. There are several different types of defense for civil suits, and also persons who are immune to the liability in question. There are three types of immunity, they are: absolute immunity, quasi-judicial immunity, and qualified immunity. Michael Lyman lists judges, prosecutors, and legislators, as those who enjoy absolute immunity during civil liability suits (Lyman pg. 272). Lyman also reminds us that police officers and witnesses can obtain absolute immunity while testifying during a criminal trial, but if found providing false testimony, may be charged with perjury. Persons within a department, performing his/her duties as assigned, during the alleged time of a Section 1983 violation, and not involved in the violation, obtain quasi-judicial immunity. Quasi-judicial immunity is provided to prosecutors who are actively involved in the trial of a person. Qualified immunity is provided to federal law enforcement officials who are accused of violating laws that have not been clearly established. If a question of liability arises, but a federal law enforcement official is later found to be acting in an â€Å"objectively reasonable manner† he/she obtains qualified immunity (Lyman pg 273). References Vicarious Liability. (n.d.) Wests Encyclopedia of American Law, edition 2. (2008). Retrieved September 30 2012 from http://legal-dictionary.thefreedictionary.com/Vicarious+liability Lyman, Michael D (2010). The Police: An Introduction. New Jersey: Prentice Hall.