Management of a Business †New Belgium Brewery Essay

Operations Management, Employee Ownership, and Leadership Provided by Management I would describe the operations management at New Belgium Brewing to be very well run. Founder, Jeff Lebesch, and co-founder, Kim Jordan, implemented an open-management system in 1996. This means that employees are directly involved in running the company. Employees are given training so that they understand how all of the financials of the New Belgian Brewery work. Kim believes that understanding the financials helps employees pay closer attention to them. Employee, Doug Miller says, â€Å"Once Kim and Jeff decided to let us all know where everything was going, it made it real important for us to keep count of every keg, any cases that are damaged. You know, it all adds up.† After a year of working for the company, each employee is given a share, and treated as a shareholder. Employees have a say in the overall direction of the company, and they work with the owners, rather than for them. This gives employees a vested interest in seeing the company progress further. The owners see all employee decisions and input as being very important to the success of the company. Chief Financial Officer, Jennifer V. Orgolini says, â€Å"How can you really care about the certain small things that are necessary to be done day in and day out if you don’t have a larger purpose behind them?† Since employees are shareholders, the more profit the company makes, the more their share is worth. This creates an environment of employee-owners that all want to work towards making the company as successful as possible. Employees all work at a similar level in separate, focused departments. Although, some departments needs to report certain things to other people and/or departments, no one in the company has more authority than anyone else. This is known as a decentralized organization, which means that everything is delegated as far down the chain of command as possible. Since employees to do not need to seek approval from managers, they can implement needed changes as quickly as possible. Overall, this system makes for happier, hardworking employees. Co-founder, Kim Jordan says, â€Å"I hear it a lot from customers, people who I’ll run into and say, ‘Wow, I was at your brewery and the vibe there is amazing. You can just tell that people really like being there.'† She also claims that, â€Å"I think that combination of happiness and extending yourself to have real relationships with people and being excellent here at New Belgium really creates a magical vibe.† Environmental Responsibility and Sustainability New Belgium has been working very hard over the last few years to be more environmentally responsible and sustainable. In 2008, the company was used about 158 MJ/hl in energy for the year. By 2011, they dropped that number down to 138 MJ/hl, and hope to drop it to 125 MJ/hl by 2018. The company has done all this by reducing their need for electricity. They have been investing in efficient equipment, installing heat exchangers, and designing their facilities with conservation in mind. In 2010, New Belgium installed a Smart Grid. A Smart Grid allows 2-way communication between the electricity provider and the company. The electricity provider can determine when New Belgium is running a non-essential function, and sends them a notice to turn it off. In January 2010, New Belgium installed solar panels on top of their packaging hall. It produces over 264,000 kWh each year and contributes to over 3% of the company’s total power supply. Both energy saving installations were partially funded by FortZED. New Belgium has an on-site Process Water Treatment Plant The Five Functions of Management The five functions of management are planning, organizing, staffing, directing, and controlling. Planning involves deciding what the company’s objectives are and how to accomplish them. Objectives are the desired end results determined by an organization, they derive from the organization’s mission. A mission describes a company’s fundamental purpose and basic philosophy. Meeting objectives involves three types of general plans – strategic, tactical, and operational. Strategic plans establish the long-range objectives of an organizations, as well as the overall strategy or course of action used to fulfill their missions. Strategic plans factor in four things, the organizations strengths and weaknesses, as well as potential opportunities and threats. Strengths are the things that a company does well or the characteristics that give it an important aptitude. Weaknesses are things that a company does poorly with, does not have, or areas where it is at a disadvantage. Opportunities are things found in the external environment of a company that could be beneficial, cause potential growth, or be a source of competitive advantage. Threats are also found in  the external environment, but hold the possibility of causing damage to a company. Tactical Plans are short range and designed to utilize the objectives of the strategic plan. They are meant to help keep the company on the course set in the strategic plan. Tactical plans allow an organization the ability to react to unpredictable changes in the environment, so they must be periodically reviewed and updated by management. Operational Plans are very short term plans that determine what specific work groups, individuals, or departments must accomplish to achieve the goal of a tactical plan. Another part of planning is crisis management or contingency planning. This area deals with potential disasters that a company may face. They may be natural disasters or disasters within the company. Some companies will have crisis management team who deal specifically with these problems, which allows managers to continue to focus on their regular duties. New Belgium Brewery’s strategic plan is to have happy employee-owners who enjoy their job and work very hard to make this company profitable. They have and are continuing to achieve this with their tactical plan of making employees into owners, training workers to be financially literate, and by allowing employees access to the books. Since employees are given a share of the company after one year, they are treated like shareholders. They work with the owners, who listen to and consider all employee input into the operations. Because employees are shareholders, they work hard to make the company as successful as possible. Organizing involves structuring resources and activities in a way that accomplishes objectives efficiently and effectively. Managers will review plans and determine what activities are needed for implementing them. Work will be divided into smaller units and assigned to specific departments, individuals, or groups. Most of the time work is organized into teams that handle core processes, rather than constructing around traditional departments, such as marketing and production. Organizing helps create synergy, which means the sum of the whole is greater than the sum of its parts. Organization also establishes lines of authority, improves communication, helps avoid reproduction of resources, and helps improve competitiveness by speeding up the decision making process. New Belgium Brewery is divided into departments that focus on certain areas of the company. However, unlike most businesses, the departments at New Belgium are not divided into a hierarchy of people with  more power and authority than those below them. The staff in each department work together at the same level and do not need to report to any managers. This gives employees the power to apply any needed changes in the company without waiting for the approval of a manager. Staffing involves hiring enough of and the right kind of people to carry out the work of the organization. Managers must determine what skills are needed for specific jobs and must recruit accordingly. Managers must determine how to motivate and train employees, how much to pay employees, what benefits should be provided, and how to prepare employees for potential higher-level jobs in the organization. Staffing also involves downsizing, which is the elimination of a large number of people from an organization. New Belgium focuses on hiring people who fit the culture of their company. Staff need to be willing to learn, willing to work hard, and need the people skills to get along with other people in the company. Also, New Belgium makes employees wait a year before giving them a share in their organization. This gives the owners time to make sure that an employee will fit well with their company and also tests their loyalty. Directing involves motivating and leading employees to achieve an organization’s objectives. Employers may motivate employees to do a good job with incentives, such as promotions or pay raises. However, most employees want more than money. Workers want to know that their ideas and input are of value to their employer. Smart managers know to involve their employees in company decision making processes as often as possible. This inclusion makes workers feel more important and better about their job, which greatly benefits the organization. New Belgium’s way of directing and motivating their employees is giving them shares in the company and making them employee-owners. Since staff are shareholders, they are a big part of decision making processes. Also, the incentive of owning a share in the company has employees trying to steer the company in a positive direction, so that they reap the benefits along with Jeff and Kim. Controlling involves evaluating and correcting the activities of an organization in order to keep them on course. This involves five activities: 1.Measuring performance 2.Comparing present performance with standards or objectives 3.Identifying deviations from the standards 4.Investigating the causes of deviations 5.Taking corrective action when necessary Controlling is closely related to planning. Planning establishes the goals and standards of an organization, controlling compares present performance with those goals and standards in order to determine whether or not performance is on target. When performance is not keeping up with the company’s expectations, employers must determine why that is and come up with a way to get back on track. Because employees at New Belgium do not have managers, and they all work at the same level, they can immediately implement any changes that may deviate the company from their desired course of action. Sources †¢http://www.youtube.com/watch?v=xPhypYaWHm8 †¢http://en.wikipedia.org/wiki/Water_reclamation †¢http://www.newbelgium.com/sustainability/Environmental-Metrics.aspx

Buying Topics for Expository Essay on Air Test

Buying Topics for Expository Essay on Air Test The Ultimate Topics for Expository Essay on Air Test Trick Every possession is currently a status symbol. To begin with, a brief explanation of the game needs to be written. From its name, you might guess you ought to have a crystal clear picture of a particular thing so as to supply your reader with a crystal clear and concise explanation. Hurry up to complete an essay order form at the website and forget about worries! While the world wide web has a massive collection of advantages, it has some downsides too. Therefore, it's better to prevent websites where people are absolutely free to add and alter info free of reliability checks. If an individual feels enthusiastic about something, they'll be prepared to devote much time building a research and will achieve success. The issue is we speak various languages not only when it comes to ethnic groups but regarding the way every individual sees the world. The New Fuss About Topics for Expository Essay on Air Test Following are a couple expository essay topics that may be given to students, as a portion of their assignments. Actually, giving a sample in your essay may be practical learning experience, and whenever your teacher grades you, you're know precisely where you went wrong which prospective employers aren't likely to inform you about. Write a nice introduction and you're off to a very good start. In addition, you can capture reader attention with the aid of funny essay topics. There are dozens and dozens of compelling topics out there which can be meticulously explored, but choosing one that you're interested in would help it become a small bit easier and more fun. If you decide on one of these topics, you will certainly succeed to draw the interest of your audience only because they involve the latest discussion topics. Put simply, it's a guide on the best way to do something. The main aim of topic choice for a proposal essay is to demonstrate the idea can be put into place in practice. The option of compare and contrast essay topics isn't a simple task because you should demonstrate your analytical skills. The important consideration to bear in mind is these expository essays are based on facts as opposed to the writer's beliefs or feelings. Each expository essay is going to have definite objective. It is possible to also bring the facet of globalization into play over here. An introduction is easily the most significant part your bit of writing. Cue words utilized within this sort of writing include, as an example, the features or characteristics are. The language ought to be pleasing and should be able to convince the reader. Your reader will observe all details throughout the prism of your ideology. It is vital to pay exclusive attention to the opening sentence. 1 great suggestion to take is to choose one that you're deeply interested in. Give a precise definition to an issue and offer readers with a potential solution. When you're assigned to compose an expository essay, the very first thing you will have to know is the way to write it. Locate the trustworthy information for the essay topic you will work on. Then the next step is going to be to find out more about the expository essay structure. You may always take a look at expository essay examples and have a better comprehension of how the entire writing process is about. Without an essay outline, it would be hard to recall the necessary sections, arguments, logical stream of essay, and general structure. You may always review expository essay examples and learn to connect your paragraphs. Typically, each paragraph must be several sentences long and, and it's especially critical for the brief expository essay. Your very first paragraph should also incorporate a very clear and defined thesis statement. A wide variety of expository essay examples have the exact same capabilities. Creating an effective essay of this kind may appear to be a more challenging task in contrast to other essays. Explain the reason it is helpful to organize your materials and activities. Describe the upcoming great invention.

The Truman Show By Peter Weir Essay - 1236 Words

The Truman Show (1998), directed by Peter Weir portrayed a grand metaphor for American culture in the 90’s. The movie’s message to us is that we are stuck in a media landscape full of fantasies that is catered to the interests of more powerful people. If we want to live an authentic life and be free, we should put distance between ourselves and the comfort that is our media filled culture. We have to leave the safety that is the media’s grasp and be willing to live in the world the way it actually is. In the 1990’s, television culture in particular was in full swing. Television is such a powerful tool as it has the potential to heavily influence our mindsets on topics. The Truman Show showed us an exaggerated reality of 90’s culture through a utopian/dystopian society in which morals are put aside for the purpose of a television show. Since its inception in the 1950s, television has become an integral part of American society. Television has always been a means of entertainment, but it has developed into something further. Television is a tool that can reflect and nurture values and morals. Throughout the years, television and our society have had a symbiotic relationship. Our culture influenced television, while television influenced our society. When The Truman Show came out, it embodied our media culture from the past, but it also predicted what was to come after the movie was released. When television networks first came on the scene, they consciously stayed clear fromShow MoreRelatedThe Truman Show By Peter Weir2021 Words   |  9 Pagesforce Utopia have failed, falling prey to the complications of people’s personal desires. The Truman Show, directed by Peter Weir, tells us the story of The Truman Show, an elaborate reality show built around the control of one man’s life. Christof, the director, has created an entire living city for Truman, the star of his show, and the only one not in on this whole elabora te fakery. Essentially, Truman is living his life in the simulation of a flawless, archetypal American town, for the entertainmentRead More The Truman Show Essay904 Words   |  4 Pages The Truman Show is a film which has been developed through a range of images. Peter Weir has creatively directed a film portraying the media and its impact on society. Within this film we see the effectiveness of techniques, which include camera angles, framing, shot types, camera movement, style of music, costuming and sequencing. By using a range of different techniques Weir is able to create emotive images and portray three different worlds to the audience. Image is everything in today’s societyRead MoreAnimal Farm And The Truman Show Analysis1341 Words   |  6 PagesIn the novel ‘animal farm’ and the film ‘the Truman show’ George Orwell and Peter weir talk about how power, utopian societies, and the good life are relevant to the narratives. In these film/novel. In Animal Farm/ Truman show power can be used in many ways good or bad, but if you have too much of it you can use the power you have in many bad ways. The good life is demonstrated as the place where everyone works together and can achieve their goals in life. These novel/films have made it clear thatRead MoreSimilarities Between The Truman Show And Animal Farm965 Words   |  4 PagesThe texts Animal Farm by George Orwell and The Truman Show directed by Peter Weir examine the ideas of power, the good life and utopia. In the novel Animal Farm, Orwell narrates the progression of animals engaging in a rebellion against their owner, who mistreats them. In the Film, the Truman show, Weir chronicles the progressive advancement of Truman’s freedom, for the reason that he is trapped in a fantasy world. Both Orwell and Weir address the two texts in a similar way. The passages correspondinglyRead MoreSimilarities Between The Truman Show And Animal Farm1219 Words   |  5 PagesOrwell) and ‘The Truman Show’ (directed by Peter Weir), the author and director explore these themes. Power and control, the good life, utopia. These three themes are key to living the full life. To have a utopia you must have a good life and to have a good life you must have your own power and your own control. One cannot have good life if there is no freedom involved in that life. If they do not have the option to choose their life will not be ‘good’. 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With every society’s strength is a weakness, interestingly enough, the Achilles’ heel of both perfect societies is totalitarianism and social conditioning. The fact of the matter is that not everyone will be the standard. The Truman Show is a 24/7 recordingRead MoreTruman Show Character Development1094 Words   |  5 PagesIn the film, Truman Show by Peter Weir, the director used a variety of visual and verbal techniques to develop the character Truman Burbank. Wier used the movement of actors, dialogue, props and symbolism to show how Truman progressed from being a typical all-American guy to a courageous man who s willing to face his fears to break free from the chains that binds him to his creator. Truman Burbank is a star of his own show- The Truman Show- and everybody knows except him. He lives in theRead MoreAnimal Farm Vs Animal Farm Essay1319 Words   |  6 PagesIn the novel the Animal Farm and in the film The Truman show, both authors try to paint a picture of what utopia and a good life demonstrates through these two texts. If a good life is wanted then the animals need to work together to achieve their goal and truman needs to find out what is the real truth for him. The Truman Show and Animal Farm both try to convey what utopia would look like in our world by showing a false sense of what the world seems to be. Power and control is a huge theme in theRead MoreSocial Media And Its Effects On Society Essay1787 Words   |  8 Pagessocial media. The Truman Show alludes the society in which compliance is forced, due to the media’s overwhelming control over the general public; and argues that there is no actual media control can be broken free from, because it is a person’s choice to seek their own path to freedom. This theme is illustrated through the symbolism of the characters of Christof, Truman’s Wife Meryl, and Truman. The claim is supported by the articles that include, 13 ways of looking at The Truman Show by Yacowar , Mapping

Essay on Ophelia - The Innocent Victim in Shakespeares...

Ophelia - The Innocent Victim in Shakespeares Hamlet Poor Ophelia, she lost her lover, her father, her mind, and, posthumously, her brother. Ophelia is the only truly innocent victim in Hamlet. This essay will examine Ophelias downward spiral from a chaste maiden to nervous wreck. From the beginning of the play, in Act I Scene iii, Laertes and Polonius are trying to convince her that Hamlet does not love her and only is interested in her so he can sleep with her. Laertes says Perhaps he loves you now, ...... His greatness weighed, his will is not his own. He is telling Ophelia that she is likely to have her heart broken because of Hamlets high birth. He may not be able to choose who he marries, so although he†¦show more content†¦In Act III scene i, Polonius and the King hide behind Ophelias curtains and eavesdrop on the conversation between Hamlet and Ophelia. Hamlet goes on to scold Ophelia and accuse her of not being chaste Ha, ha! Are you honest? ... Are you fair? ... Get thee to a nunnery. Why wouldst thou be / a breeder of sinners? Hamlet goes on to say ...This was sometime a paradox, but now / the time gives it proof. I did love you once. Ophelia replies with Indeed, my lord, you made me believe so. Her heart must have torn in two when Ham let came back with You should not have believed me, for virtue / cannot so inoculate our old stock but we shall relish / of it. I loved you not. Hamlet admits that he was deceiving her the whole time. This was likely a major factor in Ophelias descent into madness and eventually, death. Again, Ophelia is the victim. Ophelias downfall continues throughout the play, and her final plunge into the waters of madness and suicide culminate around her fathers death. Hamlet, while talking threateningly to his mother, accidentally slays Polonius who was hiding behind the curtain in his mothers room. Hamlet thought it was Claudius he heard coming to his mothers aid when she cried for help and lunged at the curtain with his sword, killing Polonius. O, I am slain! were his final words. After Ophelia learns of her fathers death at the hands of her estranged lover, she goesShow MoreRelated Shakespeares Hamlet - The Character of Ophelia Essay3341 Words   |  14 PagesHamlet: The Character of Ophelia  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚   Concerning the Ophelia of Shakespeare’s tragic drama Hamlet, is she an innocent type or not? Is she a victim or not? This essay will explore these and other questions related to this character.    Rebecca West in â€Å"A Court and World Infected by the Disease of Corruption† viciously, and perhaps unfoundedly, attacks the virginity of Ophelia:    There is no more bizarre aspect of the misreading of Hamlet’s character than the assumptionRead MoreFemale Characters in Hamlet4091 Words   |  17 Pagesis a story of one, or at most two persons. As a rule, they are male protagonists. But to say that Shakespeare’s female characters are shallow, undeveloped and used just as a decoration on the stage is very wrong. Women in Shakespeare’s tragedies have no leading role and they are, to paraphrase Northrop Frye,[1] not tragic heroines, but heroines in a tragedy. All female characters in Shakespeare’s tragedies have one thing in common – they end up dead. It is always an untimely, unnatural death. ThisRead More Essay on Hamlet and its Ophelia1968 Words   |  8 PagesHamlet and its Ophelia  Ã‚        Ã‚  Ã‚   In Shakespeare’s Hamlet there is an innocent young lady who comes to an undeserved and unbecoming end. She is Ophelia, the subject of this essay.    Bryan N. S. Gooch in Review of The Shapes of Revenge: Victimization, Vengeance, and Vindictiveness in Shakespeare, presents Ophelia as the powerless victim:    Harry Keyishian [. . .] clearly presents in Chapter I, Victimization and Revenge: Renaissance Voices, a useful survey of the problemRead More Hamlet Essay: The Unlike Characters of Gertrude and Ophelia3420 Words   |  14 PagesHamlet -- the Unlike Characters of Gertrude and Ophelia      Ã‚  Ã‚   The Shakespearean tragedy Hamlet features two ladies who are very unlike in character. Queen Gertrude, denounced by the ghost as faithless to King Hamlet, is pictured as evil by many, while Ophelia is seen as pure and obedient and full of good virtues. 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In Shakespeare’s Hamlet was Ophelia’s madness contributed to by the prince’s rejection of her? The answers to these and other questions about this tragic figure will be given. Rebecca West in â€Å"A Court and World Infected by the Disease of Corruption† argues that Ophelia has no love for Hamlet, but only for her father: For the myth which has been built round Hamlet is neverRead More Sex in Othello and Hamlet Essay4016 Words   |  17 Pagesinsane. William Shakespeares plays, Othello and Hamlet, demonstrate on paper, on film, and in other art forms that female sexuality and beauty are a threat to patriarchal society and that they must be controlled. Showalter affirms this in her essay by quoting David Laverenzes essay, The Woman in Hamlet. In this essay he asserts that, Hamlets disgust at the feminine passivity in himself translated into violent revulsion against women and into his brutal behavior toward Ophelia (Showalter 222)Read More The Impact of Ophelia on Hamlet Essay1973 Words   |  8 PagesImpact of Ophelia on Hamlet  Ã‚        Ã‚   Could the Bard of Avon have created a more innocent and obedient young lady in Hamlet than the victimized Ophelia? I think not. Let us discuss the ups and downs of her life in the play.    Michael Pennington in â€Å"Ophelia: Madness Her Only Safe Haven,† describes personality traits of the young lady: This is the woman she might have become – warm, tolerant and imaginative. Instead she becomes jagged, benighted and imaginative. . . .Ophelia is made madRead MoreThe Importance of the Now1714 Words   |  7 Pagescenturies. Fictional characters are no exception. Hamlet, in particular, seems very concerned with the prospect of facing the consequences of one’s actions in the afterlife. In Act 3, he is afraid Claudius will be forgiven if he dies while praying (Ham. 3.3.77-83). In his famous â€Å"To be or not to be† soliloquy, Hamlet concludes that fear of the afterlife is what prevents man from committing suicide and escaping the miseries of an earthly existence(â€Å"Hamlet†). Hamlet is also consumed by the idea of death itself-Read MoreInvestigation of Hamlets Tragic Flaw that Led to his Demise Essay1384 Words   |  6 Pages William Shakespeares tragedy plays have fascinated people from the time of the renaissance to present modern times. All his tragedy plays are five acts long, and the climax of the play occurs in the third act. In each and every tragedy play there is a tragic hero who bears a tragic flaw. Every tragic hero usually possesses valor characteristics such as bravery, honesty, intelligence, and so on. In the Shakespearean tragedy Hamlet the tragic hero is Hamlet. He is an

Clothing, Handbags and Jewelry Industries in the Us Free Essays

Clothing Accessories * The global clothing accessories industry is worth close to $16. 5 billion, according to research from Packaged Facts. During the economic recession, many consumers opted to buy accessories instead of more expensive items of clothing(Accessories can be sold even in recession). We will write a custom essay sample on Clothing, Handbags and Jewelry Industries in the Us or any similar topic only for you Order Now Spending patterns concerning accessories are slightly different than clothing purchases as accessories are often bought on impulse or as add-on purchases. The world clothing accessories market is expected to exceed $20 billion by 2012. The global clothing accessories market is expected to see growth resume in the post recession period. Consumer confidence is recovering from the lows of the economic recession, with shoppers more willing to splash out on luxury and non-essential items. As consumers become increasingly conscious about the environment, demand for environmentally friendly luggage will rise(focus more on environmental friendly products, could also be used as a marketing strategy). Handbags This U. S. industry comprises establishments primarily engaged in manufacturing women’s handbags and purses of any material (except precious metal). This 6-digit NAICS industry (316992) is under the hierarchy of Other Leather and Allied Product Manufacturing Industry (31699), Leather and Allied Product Manufacturing Subsector (316), and the Manufacturing Sector (31-33). Revenue, Profitability ; Foreign Trade Preview The industry’s revenue for the year 2010 was approximately $351. 1 million USD, with an estimated gross profit of 51. 29%. Import was valued at $2. 3 billion USD from 111 countries. The industry also exported $256. 2 million USD worth of merchandise to 117 countries. Adding import value to and subtracting export value from the industry’s shipment value, the total domestic demand for the industry in 2010 was $2. 4 billion USD. (This could be the biggest market for sale) Jewelry 1) Costume jewelry is considered a discrete category of fashion accessory, and displays many characteristics of a self-contained industry. Costume jewelry manufacturers are located throughout the world, with a particular concentration in parts of China and India, where entire city-wide and region-wide economies are dominated by the trade of these goods. There has been considerable controversy in the United States and elsewhere about the lack of regulations in the manufacture of such jewelry—these range from human rights issues surrounding the treatment of labor, to the use of manufacturing processes in which small, but potentially harmful, amounts of toxic metals are added during production. (lot of cadmium found) As part of the supply chain, wholesalers in the United States and other nations purchase costume jewelry from manufacturers and typically import or export it to wholesale distributors and suppliers who deal directly with retailers. Wholesale costume jewelry merchants would traditionally seek out new suppliers at trade shows. As the Internet has become increasingly important in global trade, the trade-show model has changed. Retailers can now select from a large number of wholesalers with sites on the World Wide Web. Some of these sites also market directly to consumers, who can purchase costume jewelry at greatly reduced prices. Some of these sites include fashion jewelry as a separate category, while some use this term in favor of costume jewelry. The trend of jewelry-making at home by hobbyists for personal enjoyment or for sale on sites like Etsy has resulted in the common practice of buying wholesale costume jewelry in bulk and using it for parts. 2) World costume jewelry market stands enthused by the increasing emphasis laid down by consumers on fashion and style(most important for the attraction of the customers). Demand for costume jewelry and fashion accessories, such as, rings, earrings, bracelets, bangles, lockets, and brooches, is waxing at a healthy pace, driven largely by consumer preference for affordable, yet fashionable jewelry. Costume jewelry has tailored looks and styles borrowed from fine jewelry. However, updated impressions of these are needed to supplement and accessorize the latest apparel from couture houses and the fashion industry. Fashions in costume jewelry are generally reflected in the ready-to-wear apparel and accessories industry. Given the relative inexpensiveness and affordability of costume jewelry, purchases are predominantly impulsive especially for the younger generation(could be one of the main target markets). Designing of costume jewelry is closely in line with the apparel market. Strong economic development in developing countries, rise in GDP, standards of living, and disposable incomes, are all factors fuelling the market’s growth. Growing sophistication of consumer tastes(what exactly does the customer wants? ) in the developed markets is fingered as a key reason for sales gain in these markets. Design innovations from manufacturers and fashion designers are helping attract fashion-savvy consumers. Unique designs, durability, and high quality are all variables for product success in the marketplace. General idea about the market for jewelry Costume jewelry market worldwide is dominated by the United States with an estimated 32. 49% share in the year 2007, as stated by Global Industry Analysts, Inc. Asia-Pacific represents the fastest growing market, mirroring a projected CAGR of 6. 93% over the period 2000 to 2010. In the Necklaces, bracelets chains market, sales are forecast to rise by US$3,853 million between the period 2007 to 2015. Global sales of Brooches, Pendants Pins are projected to reach US$2. 0 billion by the year 2015. Ear Rings market in Asia-Pacific is forecast to grow at a robust CAGR of 9. 52% over the 2011 to 2015 period. Leading players operating in the global costume jewelry market include Avon Products Inc, Adrian Buckley Jewellery, DCK Concessions Ltd, H. Stern Com. Ind. S. A, KM Associates, The Colibri Group, Roman Research Inc. , and Swank Inc. (we could implement their strategies) How to cite Clothing, Handbags and Jewelry Industries in the Us, Papers

Introduction to Management Accounting And Costing System

Question: You have just been hired as an accountant by GoodStyle Furniture, a manufacturer of specialty, hand-made furniture based in South Australia. The furniture produced by Goodstyle is in two ranges, Modern and Classical. The two ranges are different in design, but both are high quality, hand-made furniture and are priced accordingly. The owner of the company, Brenton Pryce, has always believed in pricing a quality product based on how much their larger competitors are pricing theirs. His argument has been that our product is as good, if not better, than the mass producers of furniture, so we should be charging at least as much, if not more, than what they charge. When you arrived at work for the first time, you learnt that the though the company has been in existence for the last twelve years, they have never had an accountant. The accounts were typically prepared by the Laura Peters , secretary of Brenton Pryce and Tom Nichols, a part-time accountant who came in once or twice a month. Tom has informed Brenton that he could no longer spare the time to come in and has suggested the need for an accountant on a full time basis, which is why you have been hired. Brenton, though, is still not convinced of the need for a full time accountant. Look, why do I need a full-time accountant? At the end of the day, all I need to do is total up my revenues, total up my expenses and the difference is my profit. Do I really need to understand my product costs? What is the purpose of that? Its not like I can lower my prices if my product costs are lower. I just follow the big guys like Hardly Normal and Super A-mart and price my product according to their pri ces. Why do I need to know what my product costs are? asked Brenton. Laura, who has been the secretary cum bookkeeper (of sorts) since the day the company started has prepared some information for you. Trying to be helpful, she has alphabetised the accounts. I do not know much about accounting, said Laura. But Tom has said that we need a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold, whatever that means. I have last years accounts for you, so could you please prepare those schedules or whatever and get it to Brenton? The alphabetised list of accounts can be found in Appendix A. Four days into your work, there was a fire over the weekend in the main office that stored the accounts. The manufacturing facility was not affected and work could go on, however, most of the information that was for the current years accounts was damaged and only partial fragments were readable. Luckily your work on last years accounts were not affected as you had brought them home to complete and was still in process of completing them. You need to get me back all the information thats now lost! My creditors want to see that information and I need you to work on it asap said Brenton Sifting through ashes and interviewing selected employees, you have worked up some additional information: a) Laura remembers clearly that the predetermined overhead rate was based on 60,000 direct-labour hours to be worked for the year and $180,000 in overhead costs. (Tom mentioned this before he left, Laura said. No idea why it is important, but if it can help you, good luck.) b) The work in process balance was $4,500 at 1st April . Also the production supervisors cost sheets showed only one job in process on 30th Materials of $2,600 had been added to this job, and 300 direct labour hours had been expended at $6 per hour on this job. c) The accounts payable are for raw material purchases only, according to Laura. She clearly remembers that the balance in the account on 1st April was $6,000. Checking with Brenton for his cheque stubs, payments of $40,000 were made to suppliers during April. (All materials used were direct materials.) .The balance in the Accounts Payable account was $8,000 at 30 April . d) A charred piece of the payroll ledger shows that 5,200 direct labour hours were recorded for the month. Laura has confirmed that there were no variations in pay rate (i.e. all employees were paid $6 per hour.) e) Records in the warehouse indicate that the finished goods inventory totalled $11,000 on 1st.Also the finished goods balance was $16,000 on 30th April . f) The balance in the Raw Materials account was $12,000 on 1st April. g)Actual Manufacturing overhead incurred during April was $14,800. h) From another charred piece of paper, you discerned that the cost of goods manufactured for April was $89,000. You are now ready to and give Brenton the information he needs before you lose your job! When you went in to tell him that you can now start working on the information, Brenton tells you that he has spoken to Tom (their previous part-time accountant) and that the following information are required: Tom says we need the following information: Work in process at the end of April, raw materials purchased in April, Overhead applied, Cost of goods sold in April, and Raw materials used in April. He also suggested that we should be looking at whether the overhead was over- or under-applied, whatever that means. REQUIRED:Prepare a report (no more than 10-pages) for Brenton Pryce that addresses the following:1. The purpose of a product costing system.2. Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold for last year. (The schedules may be in the appendix). Explain why some items have been excluded from the schedules.3. An Income Statement for last year assuming that tax is charged at 30% on Income before tax4. Determine the values for the following:(a)Work in Process at the end of April;(b) Raw materials purchased in April;(c) Overhead applied in April;(d) Raw materials used in April; and,(e) Over- or under-applied overhead in April. (f) Cost of Goods sold in April;5. Discuss how overheads can be over- or under-applied and how the company should deal with the over- or under-application. SCHEDULE ALast years accounts Administrative salaries $2,400 Advertising expense 1,200 Depreciation factory building 800 Depreciation -- factory equipment 1,600 Depreciation -- office equipment 180 Direct labour cost 21,900 Raw materials inventory, beginning 2,100 Raw materials inventory, ending 3,200 Finished goods inventory, beginning 46,980 Finished goods inventory,. ending 44,410 General liability insurance expense 240 Indirect labour cost 11,800 Insurance on factory 1,400 Purchases of raw materials 14,600 Repairs and maintenance of factory Sales 110,000 900 Sales salaries 2,000 Taxes on factory 450 Travel and entertainment expense 1,410 Work in process inventory, beginning 1,670 Work in process inventory, ending 1,110 Answer: (1) There is a great importance of Producing Costing system in a Manufacturing Industry. Product Costing is basically to identify the Cost of the Product to the company. There are various method through which product cost can be identified some of them are standard cost, Marginal Costing Method or Actual Cost Method. (Thomas, 2012) To Identify the Product Cost first of all we have to identify the direct cost, overhead cost, basis of cost allocation and then we have to calculate the Overhead Cost. This production manager wants per unit cost of the product in order to identify the performance and product sourcing. This helps the manager in identifying the wastage made by the worker if the cost per product is higher than the industry average.(Calpan, 2012) Further, if the Management knows the cost of his product than h is in better position to negotiate the price of its product with the buyer of the goods and increase its sale volume. Product Costing also helps the top management in evaluating the performance of the production Manager. It also help them to give focus on such factory which costing is high and also necessitate the top management to identify the reason for such high cost and take measures to reduce the wastages to reduce the product cost. (2) Particulars Amount Amount Raw Material at the Beginning 2,100 Add: Purchase of Raw Material 14,600 Less: Raw material at the end (3,200) Cost of Material Consumed 13,500 Add: Direct Labour Cost 21,900 Add: Factory Overhead Depreciation - Factory Building 800 Depreciation - Factory Equipment 1,600 Indirect Labour Cost 11,800 Insurance on Factory 1,400 Repairs and Maintenance Factory 900 Taxes on Factory 450 16,950 Factory Cost 52,350 Add: Opening stock of WIP 1,670 Less: Closing Stock of WIp (1,110) Cost of Goods Manufactured 52,910 Add: Opening stock of Finished Goods 46,980 Less: Closing Stock of Finished Goods (44,410) 2,570 Cost of Good Sold 55,480 While calculating Cost of Goods Manufactured we will consider all the direct and indirect cost which has been incurred in the factory for manufacturing the goods along with the portion of deprecation. This is mainly the Factory Cost However if we calculate the cost of goods sold, then we will have to also consider the opening and closing inventory of goods. All the other expenses will be consider as operating Expenses and we will form Part of Income Statement. (3)Income Statement is as follows: Particulars Amount Amount Sales 110000 Less: Cost of Goods Sold (As In Answer2) (55,480) Gross Profit 54,520 Less: Operating Expenses Administrative Expenses Administrative Salary 2,400 Travel and Entertainment Expenses 1,410 Depreciation - Office Equipment 180 General Liability Insurance 240 (4,230) Selling Distribution Expenses Advertisement Expenses 1200 Sales Salary 2000 (3,200) Income from Operation / Income before Tax 47,090 Tax Expenses @ 30% (14,127) Net Income 32,963 (4)(a) Work in Progress at the End of April Overhead Cost = 180,000 Direct Labour = 60,000 Overhead Rate = 180,000/60,000 = 3 per hour Particulars Amount Opening Stock of WIP 4,500 Add: Material 2,600 Add: Direct Labour Hour (300*6) 1,800 Add: Overhead (300*3) 900 Closing Stock of WIP 9,800 (b)Raw Material Purchased in April Particulars Amount Account Payable as on 30th April 8,000 Add: Payment mad during April 40,000 Less: Opening Account Payable on 1st April (6,000) Purchase Made during the Month 42,000 (c) Overhead Applied in AprilLabour Hours Worked in April = 5,200Overhead Rate = 3 per hourTotal Overhead Expenses = 5200 * 3 = 15,600 (d) Cost of Goods Sold in April Particulars Amount Amount Cost of Goods Manufactured (Given) 89,000 Add: Opening stock of Finished Goods 11,000 Less: Closing Stock of Finished Goods (16,000) (5,000) Cost of Good Sold 84,000 (e)Raw Material Used in April Particulars Amount Amount Raw Material at the Beginning 12,000 Add: Purchase of Raw Material 42,000 Less: Raw material at the end NIL Cost of Material Consumed 54,000 (f) Over or Under Allied OverheadOverhead Applied = 15,600Actual Overhead = 14,800Overhead Over applied = (15600 14800) = 800 (5)All the cost incurred in the factory other than Direct Material and Direct Labour is called overhead. In Standard / Marginal Costing we will predetermined the Overhead Expenses that would likely to be incurred in the given period of time. Then we will determine the appropriate cost driver to determine the recovery rate of the overhead. After determining the appropriate cost driver we will divide the overhead expenditure with the cost pool to get the recovery rate. Overhead recovery rate is just estimation. This may differ from the Actual Expenditure. If the actual expenditure is more than the overhead applied than this is the situation of under recovery of overhead. However, if the actual expenditure is less than it is case of over recovery. In case of Over / Under recovery of the overhead the same should be debited / credited in the profit loss a/c so that it impact will reflect on the company balance sheet. Reference: Calpan, D. (2012). Management Accounting: Concept Technique. 10. Thomas, J. (2012). Overview to Product Costing and Manufacturing Accounting. 8.

Nightmare On Elm Street - The Dead Of Night Essays - Christina

Nightmare on Elm Street - The Dead of Night Robin lay down on her pillow, intent on getting a good nights sleep. She did not get her wish. In her dream, she was in a park, calm as ever. In a moment, a cat walked out from some bushes; probably a stray. She bent down to pet it, and it nudged her leg lightly with its head. She noticed something strange about the cat. On one paw, was a miniature glove, with blades sticking out. It took a swipe at her arm, and it drew blood. She pushed the cat away, and started to walk away. Looking, back, she noticed the cat was now wearing a dirty brown hat. It was following her. She quickened her pace, and so did the cat. The cat rose on all fours, and fur began to fall off, as it grew in size. When she looked back, it was no longer a cat, but a grotesque man wearing a striped red and green shirt. "Time for the cat to eat little Robin!" He snickered, and grinned an evil grin. She started to run, but the madman was quick to chase her. She suddenly heard in the distance what sounded like a firebell ringing. She closed her eyes, to scared to look. All sound subsided, except for the bell. She dared a peek through her eyes, to see her bedroom. She was safe, at least for now. Her mother opened the door, slowly. She smiled and said, "So, you're awake, sleepyhead. Listen, Julie is here, time for school, summer vacation's over." As her mother left, she got out of bed. She got out from her covers, and she noticed a few small scrapes on her leg. She thought that she must have cut herself on the way home the day before. She quickly got dressed, and walked out the front door. Julie was standing in front of her car, a gift for her last birthday. Robin hopped in Julie's new car. "I had the weirdest dream last night. There was this cat. It tried to kill me. It had this little razored glove on one paw. I started walking away, and it, like followed me. Then it turned into this ugly guy. It was really weird. But the strange thing is... the cat scratched me on my leg. When I woke up, I saw the same kinda scratches." "Hmm.. That is weird. I don't usually remember my dreams." Julie replied. At that moment, they pulled up to the school driveway. "Well, here we are!" she exclaimed. "First day of school and I'm already sick of it." she sighed. "School is such a drag." "Well, it's a new school for you, so maybe you'll like it..I'll introduce you to a few of my friends from last year." Later, inside the school building, just before the bell rang, Julie met up with a group of people. "Everybody, this is Robin, Robin, this is Mark," she gestured to a cute, tall boy with dirty brown hair. "...Peter," this time to a tall, black haired boy, with slightly long hair. He bowed slightly. "...Kelly," a blond, blue eyed, thin person who seemed to be popular. "...Mike," an oriental with black hair, wearing glasses. "...and Tracy," a slender girl with long red hair. Mike smiled, "We're all in the same class.. Me and Peter broke into the computer files." As the bell rang, there was a stampede of people running for their classes. They were right outside their's. They walked inside, and sat in their seats. The next person to walk into the door, was a pretty lonely looking girl with brown hair. She timidly asked, "Is this room 104?" Mark turned around to look at her, "Yeah, sure is, have a seat, anywhere." To Kelly he whispered, "Hey, she's kind of cute. She must be new here. Introduce yourself," The new girl sat in a seat near Mark, but not too close. The day passed uneventfully until the seventh period, where a bored Julie fell asleep in class. She apparently woke up less than a second later, where the class seemed to be empty, except for the teacher, who was scribbling on the board. In a calm voice, the teacher said, "Now now Julie, you know from last year that sleeping in class means immediate detention. Start writing on the board, `I will always listen to Mr. Freddy.' 5 billion times." The teacher turned around. He was wearing