CREDITEK CORPORTATION

If you order your custom term paper from our custom writing service you will receive a perfectly written assignment on CREDITEK CORPORTATION. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality CREDITEK CORPORTATION paper right on time. Out staff of freelance writers includes over 120 experts proficient in CREDITEK CORPORTATION, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your CREDITEK CORPORTATION paper at affordable prices! Professional debit management firms establish long-term relationships with corporations that may need outsourcing to provide services that enhance their cash receivables. By doing so, the firm can focus on other aspects of their clients needs and not on management of cash flow. One corporation that leads the industry in outsourcing is Creditek. The focus of Creditek is to improve financial performance through quality principles. They strive to provide immediate improvement in receivable performance and create deduction resolutions to enhance profit ability. Their goal is to increase a firms revenue and decrease their losses. John Metzger, founder and President of Creditek, organized this corporation to assist companies as they recapture profits and working capital frozen in the order-to-cash cycle.

Since 18, Creditek has been a key factor in helping their clients process customer claims, enhance cash flow performance, and reduce business process cost. They have succeeded in generating hundreds of millions of dollars to their clients cash flow annually. Other services provided are exception management and revenue cycles consulting. Exception management deals with customers pricing issues, returned goods, and shortages caused by the client. Expedited correctly, exception management issues can be the best way to keep a happy customer-client relationship. Revenue cycle consulting deals with the collections process, claims management, accounts receivable performance, and profits. The revenue cycle consulting is so instrumental because it increases the firms stream of cash flow and working capital.

Creditek services Fortune 1000 sized firms in the United States as well as international firms in Europe and Latin America. Their growth is achieved by networking with existing clients to add numerous prospects from other industries. Having offices nationwide and seven hundred fifty employees, Creditek enhances their clients receivable performance by cutting operation costs. Industrial growth opportunities worldwide help Creditek expand their scope of services. This includes deduction management, invoice collection, credit decision, and preparation of systems conversion.

Creditek is not a publicly traded company. Companies such as General Atlantic Partners LLC, the worlds largest equity firm, invests substantial amounts of money in companies in need of strategic assistance. General Atlantic Partners LLC, invested $0 million dollars in Creditek on May 14, 001. These funds were issued to help Creditek complete technology expansion and ensure rapid growth of the order-to-cash cycle segment of global business outsource markets. Creditek focuses on quality and client financial performance. Being the industries largest accounts receivable company leaves little room for competitors. Companies such as Pyramid and IAB are working towards increasing client prospects. As of now, both companies focus on improving their clients cash flow and net worth. All three companies have a common goal, to help each of their clients create a solution to reclaim substantial amounts of written-off revenue. But neither company can compare to the many clients Creditek services throughout the country. Their consulting and outsource clientele include 00 of the Fortune 1000 consumer goods, services, high-technology, and manufacturing firms. Lets face the facts Creditek is the leader in providing superior client services to companies in need of financial solutions. The goal of Creditek is to continuously build relationships with companies to ensure their financial success. Creditek is dedicated to providing quality service to their clients through their best practices, extraordinary technology, and knowledge. Creditek realizes that significant improvement is the bottom line. Their unique and highly focused insight into the Business Process Outsourcing area will help accelerate Crediteks already outstanding performance. The overall objective of Crediteks organization is to eliminate mistakes and to eliminate poor decisions.

One on-site company, which deals with Creditek, is Thomas and Betts. Thomas and Betts is located at 8155 T&B Blvd. In Memphis, Tn. Thomas and Betts is a distribution company that provides many goods and services to different businesses throughout the country. Our current position at this site is to create a sensible strategy to restructure their finance into becoming a net gain. Our goal and mission is to provide the most innovative way to decrease their overall expenses for their account receivables department and increase their net worth. We specialize in creating a zero tolerance for their account balancing and the exchange of monies and products and services.

Our structure of process is divided into two primary working teams. Each group for both areas is divided into two sections of operational functions. One group is primarily responsible for analyzing and gathering the incoming deductions, receipts, and checks. This group is called the ongoing team. The other section is responsible for applying and researching the credit or deduction. This group is called the functional team. As a group and team we all work together and have been able to decrease Thomas and Betts accounts receivables by over ninety percent. This shows the company that not only will we help with their bottom line but we also have organization behavior skills. Organization Behavior is the field of study that investigates the impact that individuals, groups, and structure have on behavior within organization, for the purpose of applying such knowledge toward improving an organizations effectiveness. As workers or students, we all have experienced conflict and problems in a work or group setting. Although conflict is a natural and acceptable occurrence in the work setting, our goal is to learn and seek effective ways to solving conflict as well as preventing it. Communication is a very important tool to resolving conflict. It will allow us to exchange information, receive and understand each other. The key to finding and implementing solutions is to first identify the problem, communicate the problem, listen to the problem, respond to the problem, and last but not least, solve the problem. Its evident that people will always work and interact together to insure an effective turnout.

The ongoing team is set in groups by regions and alpha sections. Each person has a specific company they work with and have to distribute accounts in alphabetical order. The analysts accounts are divided among four individuals, Employee A, B, C, and D. However, the work structure is divided into two processes, 1) two team members made the calls and follow-up status on accounts, ) two team members receive, gather, and matched all incoming data for deductions. The accounts are divided into section of alphabets A-L and M-Z. Using this process prevents a backlog. Their goal is to complete and clear old accounts from the beginning to the end as well as establishing a current status on all accounts.

At the beginning of the newly structured teams, we were all told that eventually each person would become a full-based full-time receiver of unidentified items. As we were told, the change did occur and the process was implemented. Each person is responsible for their section of alphabets, and one major account. There were some different views and insights regarding the change, however, working as an analyst from the beginning, I thought the change was great and would definitely be more effective in meeting the companys goal.

This change affected the bottom line of Thomas and Betts cash receivables net income. Since our job is based on collecting all invalid deductions, it is imperative that all attempts to collect a debt have been used before write off is recommended. After all prudent efforts have been failed, deductions that cannot be validated or cannot be collected are recommended for write off. We assure Thomas and Betts that before write offs are recommended that all deductions have been research and are fully supported by hard copy files. Working at Creditek for the past two years has raised a question in my mind about the mind-set of Creditek as a company. While Creditek thrives on excellence and perfection with their on-site company, why do they not focus on the importance of employee satisfaction also?

The Problem

Creditek has a growing issue with the retention of their employees. Turnover is costly and disruptive, and has lasting strain on a company and its employees. This can limit its ability to compete effectively in todays business climate. The United States Department of Labor estimates the cost of employee turnover at one-third of the annual salary of the newly hired person. Costs include lost productivity while the position is vacant, recruiting and screening costs, interview costs, training costs, and the cost of reduced efficiency as the new employee learns the job.

Please note that this sample paper on CREDITEK CORPORTATION is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on CREDITEK CORPORTATION, we are here to assist you. Your cheap custom college paper on CREDITEK CORPORTATION will be written from scratch, so you do not have to worry about its originality. Order your authentic assignment and you will be amazed at how easy it is to complete a quality custom paper within the shortest time possible!

Finding the power of a concave lens by a method of combination

If you order your cheap custom paper from our custom writing service you will receive a perfectly written assignment on Finding the power of a concave lens by a method of combination. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality Finding the power of a concave lens by a method of combination paper right on time. Out staff of freelance writers includes over 120 experts proficient in Finding the power of a concave lens by a method of combination, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your Finding the power of a concave lens by a method of combination paper at affordable prices! Finding the power of a concave lens by a method of combination

Aims

To find the power of a concave lens by a method of combination, using a convex lens with a power of 4.5D to 5.5D using a convex lens with a focal length of 10

TheoryThe power of the length is what opticians prefer to use as a measurement and is the reciprocal of the focal length in metres. The equation for this is

The focal length of a lens is simply the distance from the lens to the point of principle focus. The equation is rearrange from above by taking the reciprocal from each side

The process of calculating the exact power within the 4.5 D to 5.5 D margin will involve initially finding the focal length but in order to find the focal length I need to the power so therefore I will have to devise a means of doing this.

Theory 1)

Theory )

The above two theories are both capable of finding the focal length and the one which I will use is theory 1

When I have found both intercepts on each graph I will average them to find the focal lengths on, I will then divide by 1000 to get the power in dioptre of the Concave lens and combined lenses subsequently using the bellow rearranged formula I will be able to find the power of the convex lens.

Prediction

I predict that that when I have found the two intercepts and calculated the concave power it will fall within a margin of 4.5 D and 5.5 D

Apparatus

· Concave lens

· Convex lens

· Light source

· Meter ruler / mm

· Screen

· Power pack / 1 V

· Object- illuminated gauze

Diagram 1 - using single lens

Diagram using combination lenses

Safety

§ Sharp lenses

§ Hot lamp

§ Electric circuits

Variables

§ Amount of light

§ Power of convex lens

§ Focal length of convex lens

§ Distance between object and lens

§ Distance between lens and screen

Accuracy

Focus

§ (V) +- mm

§ (U) +- mm

Measuring

§ Ruler +- mm

Method

I. Set up the apparatus up as shown in the diagram and switch on the power pack to alight the bulb.

II. Now place the screen at any given place where a focus image will be able to appear on the screen.

III. Move the lens so that the object is clearly focused on the screen, now record the following into a suitable table

§ Position of lens

§ Position of screen

§ U distance between lens and object

§ T distance between lens and screen

IV. Repeat section II to III until a minimum of 6 readings has been obtained.

V. Now add the concave lens directly behind the convex and carry out stages II to IV. If possible repeat the whole experiment a number of time and divide your answers by how many times you carried the experiment out to find an average

Results table

LIGHT (CM) LENS (CM) SCREEN CM) U (CM) V (CM) 1/U (M-1) 1/V (M-1)

0 6 40 6 14 .85 7.14

0 50 14.4 5.6 6.4 .81

0 60 1. 46.7 7.5 .14

0 70 1.6 57.4 7.4 1.74

0 80 1. 67.7 8.1 1.48

0 100 11.5 88.5 8.70 1.1

0 10 11.4 108.6 8.78 0.

Combination lenses

0 6.4 85 6.4 48.6 .75 .05

0 1 5 1 64 . 1.56

0 8.8 105 8.8 76. .47 1.1

0 7.7 115 7.7 87. .61 1.15

0 6.8 15 6.8 8. .7 1.0

0 4. 170 4. 145.1 4.0 0.6

0 5.5 145 5.5 11.5 . 0.84

Analysis

From the above graph I found that the power of the single lens is .4D

And form the graph for the combined lenses I found that the power was 4.6D

Now to find the power I will use the equations I earlier mentioned in this essay.

Conclusion

In conclusion to my aim and prediction I fulfilled them both, the power I found fell at -4.6D.

The graphs show that as 1/U decreases 1/V increase, which illustrates that 1/U, is inversely proportional to 1/V.

Evaluation

On both graphs all the results lie on or extremely close to the line of best fit indicating that there was very little inaccuracies in the procedure experiment. This was because I closely followed my method and controlled my variables.

Uncertainties

Because nothing is 100% efficient there was errors encountered in my experiment.

The error margin I gave for 1/U was +- 0.4 mm

This was because the uncertainty of the ruler was +-0. and in the positioning of the lens was also +- 0. since measuring error in reading the scale I could not be exactly certain with the naked eye of the placement.

The error margin I gave for 1/V was +- 0.4 mm

This was because when focusing the image I could not be precise and may had been slightly out so I gave +- 0. error margin for this and with the error of the ruler which was as before +-0. adds up to the giver error above.

From the graph bellow it is possible that the lowest possible power for the single lens was

From the graph bellow it is possible that the highest possible power for the combined lens was

From the graph bellow it is possible that the highest possible power for the single lens was

From the graph bellow it is possible that the lowest possible power for the combined lens was

From the above findings the lowest possible power was

From the above findings the highest possible power was

Control of Variables

§ Amount of light was controlled by carrying out the experiment in a dark room, this is one of the reasons for the good set of results, because only the wanted light from the bulb was being projected on to the screen and no unwanted light from the surrounding contaminated the results.

§ Power of convex lens was kept the same by using the same lens throughout

§ Focal length of convex lens was kept the same by using the same lens throughout

§ Using the same ruler and clamping it down to keep it in a fixed position I controlled distance between object and lens. I also used a setsquare so that when measuring the length I had the lens at a right and to the ruler to improve accuracy.

§ Controlling the distance between lens and screen was the same as above, however to ensure I was in as much focus as I could be I spent enough time going in and out of focus to find the up most point of focus as possible with the eye.

Further proposals

The experiment was very human measured, electronic measuring equipment such as the Sonin 1000S Multi-Measure Combo Professional Electronic Distance Measuring Tool that is a fast and accurate tool would improve accuracy.

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dof

If you order your cheap custom paper from our custom writing service you will receive a perfectly written assignment on dof. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality dof paper right on time. Out staff of freelance writers includes over 120 experts proficient in dof, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your dof paper at affordable prices! evil or bad in some way (The Language Of Literature 11)." I think a hero is a person who does somethingave, knowing that they do not have to. A hero is someone who protects us from danger, or risks their life for us. A hero is not a person who dresses up in a mask and a cape. We should know who the real heroes are.

First, who are the real heroes? There are a lot of and many different kinds of heroes today. Some heroes that show theiravery. For example, the firemen and policemen of New York City are heroes. Some of the heroes who fight for people are considered heroes. Our troops that fight for our freedom over seas against our enemies are heroes. Another thing that makes a hero is leadership. President Bush is a hero because of his leadership. I consider a role model to be a hero. For instance, Michael Jordan is a big role model to a lot of people. Another hero is a person doing something that they do not like to do. A person could work at a job that they do not like to do, but they do it anyway to provide for their family. They are all real heroes.

Next, what makes a real hero. It does not take that much to be a hero. All the little things can make a hero. Somebody can visit a lonely person that does not get many visitors. For example, they can visit someone and make them feel good. You can also be considered a hero by showingavery. For instance, if you save someone from a burning building, that can make a person a hero. Someone can do something for your community. For example, a person can clean up around your community. Anything can make a person a hero,

Finally, a hero is not a person who tries to act heroic. A hero is not a person who dresses up in a mask and a cape. For example, characters like Batman, Superman, and Spiderman are not real heroes. Some people try to act like their a real hero, but they never do anything heroic. For instance, people try to take credit for things that they have never done. A hero is not a person who takes their own life along with others. When the terrorist hijacked the plane and crashed it in the twin towers, they thought they would be heroes. They are not the real heroes. In conclusion, a hero can be someone who protects people from the evil. They can show theiravery by doing somethingave. There are many different ways to show what a hero really is.

Please note that this sample paper on dof is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on dof, we are here to assist you. Your cheap college papers on dof will be written from scratch, so you do not have to worry about its originality. Order your authentic assignment and you will be amazed at how easy it is to complete a quality custom paper within the shortest time possible!

theoretical approach in pyschology

If you order your cheap essays from our custom writing service you will receive a perfectly written assignment on theoretical approach in pyschology. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality theoretical approach in pyschology paper right on time. Out staff of freelance writers includes over 120 experts proficient in theoretical approach in pyschology, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your theoretical approach in pyschology paper at affordable prices! General Description of Theoretical perspectives or Approaches in Psychology.

There are 5 major approaches in psychology, which predominate in order to examine the human behaviors.

1. Biological perspective

This is an approach that emphasizes on bodily events & changes, which are associated with actions, feeling & thoughts. For e.g. They study the behaviors of a person in illness and health and how the mind and body reacts to that particular event, they try to study the role of genes in development of traits and abilities.. Learning perspective

This is concerned with how the environment and an experience have affected the human mind and hence its action or even an animals action. This approaches usually used in many practical ways like trying to help an individual get rid of his unwanted habits and get good desired ones. This is a very important approach as it has given Psychology most reliable findings

. The Cognitive approach

It stresses more on what goes on in peoples heads. By this approach we can usually correlate the persons actions, feeling and choices with their thoughts and explanations. In this method they have developedilliant ways to infer mental processes from the observable behavior and hence is one of the strongest forces in psychology.

4. Sociocultural perspective

This usually takes into consideration the social and cultural forces outside the individual, which shape the behaviors. The influence of spouse, lovers, bosses, parents and strangers on ones life is studied. The cultural rules and values also affect the peoples development.

5. Psychodynamic perspective

It deals with unconscious dynamics within the individual, such as inner forces, conflicts or instinctual energy. This method differs in its language, methods and standards of which are acceptable. They try to dig a persons behavior to get to its unconscious roots.

This method helps the psychologist to separate well-supported conclusions from baseless beliefs and help the people to think critically.

Please note that this sample paper on theoretical approach in pyschology is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on theoretical approach in pyschology, we are here to assist you. Your cheap custom research papers on theoretical approach in pyschology will be written from scratch, so you do not have to worry about its originality. Order your authentic assignment and you will be amazed at how easy it is to complete a quality custom paper within the shortest time possible!

a mentors success is measured by the corresponding sucess of their protege

If you order your cheap custom paper from our custom writing service you will receive a perfectly written assignment on a mentors success is measured by the corresponding sucess of their protege. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality a mentors success is measured by the corresponding sucess of their protege paper right on time. Out staff of freelance writers includes over 120 experts proficient in a mentors success is measured by the corresponding sucess of their protege, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your a mentors success is measured by the corresponding sucess of their protege paper at affordable prices! Success, quite a universal word, it can enrich lives and create contentment, though it can also wreck lives and lead to despair. An opportunity to watch someone succeed would be moving, though if one had the chance to help someone succeed, it would be inspirational. One would learn new things from such a relationship. Maybe its not palpable, but whilst they teach, they are actually learning themselves. The people being referred to as they, are mentors. Mentors are significant in their students development and growth. A mentor motivates, educates, influences, guides and facilitates their student to succeed. Likewise the students are significant in their mentors lives; their success affects their mentor because a mentors success is measured by the corresponding success of their prot�g�.

The definition of a prot�gin the Collins Dictionary says a prot�gis a person who is protected and helped by another. The movie Finding Forrester shows the classic scenario of an unlikely mentor relationship, a recluse Pulitzer Prize winner and a young sixteen year old Negro boy. The relationship develops and both of them end up learning and developing from one another. A mentor-student relationship goes both ways. "A friend of mine had the integrity to protect me when I was unwilling to protect him," Forrester talks about his prot�gJamal. The definition of a prot�gstated earlier, is turned upside down in this quote, because Jamal is clearly meant to be the prot�gand Forrester is meant to protect him. See Forrester is a recluse and wont leave his apartment, Jamal helps him to learn to live again and Forrester teaches Jamal to develop his already above standard writing techniques. Forrester protected Jamal and Jamal helped Forrester, both lives were enriched by this fruitful relationship.

Forrester had won a Pulitzer Prize but had nothing, he had stopped living; Jamal was like a son to him (in the end), he helped Forrester to live again, helped him to succeed again. Forresters success was measured by the corresponding success of Jamal.

Success in the Collins Dictionary is, achievement of something attempted, does this mean being the best?illiance, what if it is impossible to beilliant? But what if ones mentor wasilliant? Would the prot�gtake it constructively and appreciate theilliance or would they become jealous and turn their back on their mentor?In Maestro, Paul Crabbe learns the piano from Edward Keller, a Viennese with a shadowed past. Pauls mother and father are talented musicians, but they want Paul to learn from the best, so they send him to Keller. Keller and Paul really dont get on too well to start with, Keller treats Paul like a child taking him back to the raw basics of piano, Paul does not appreciate this at all, and he thought his teacher was a Nazi. Keller gradually over time, opened up to Paul, and the relationship developed and Paul learnt of Kellers terrible past. Meanwhile Paul was trying to be perfect on the piano; Keller wasilliant, all Paul wanted was to be wasilliant. "Dont confuse music with emotion," Keller says to Paul, music is just technical perfection in Kellers words. That is where Paul lost out on becomingilliant. Paul took it constructively though because it was more than that piano; it was life Keller was teaching him, he was a true mentor to Paul. It was Keller who made him who is was, he was his mentor and was like Pauls second father. Likewise Paul was Kellers adopted family. Paul bought Keller joy and hope, and a reason to keep on living. "I do not tell you this for me, but for you," Keller loved Paul and his music. This is an example of success on both sides, even though it is emotional success. Paul learnt how to be a man and how to appreciate life and Keller learnt how to love again. Kellers success is measured by the corresponding success of Paul.

Teachers can be mentors. Keller was Pauls teacher and mentor. The adult Paul was someone important because Keller was strict with him. He didnt let him do his own thing, even if he playedilliantly to his standards, Keller would still tell him he wasnt that good. Keller told Paul the truth, and strong relationships are based on truthfulness.

Ron Clarke left school with no intention of becoming a teacher. However, he ended up teaching in Harlem. He made it his life long habit to turn his students lives downside up. "Let me tell you right know, Im not going to play with you, Im here to make sure you get the best education possible," Clarke was true to his kids, he taught his students respect, discipline, maturity and helped raise his classes academic scores but most of all a relationship that most children wouldnt experience with their teachers, a mentor relationship. Clarke learnt a new way of life from his students. "It was very hard to get through to these kids, but I just kept at it- and pretty soon they opened up." Mentors cant just give up on their prot�g�s; a mentor protects and helps their prot�g�. Clarke had done this. He is like the ultimate mentor. He gave these children new hope; they also gave him new hope. Teachers can be mentors; students can also indirectly influence their teachers too. Clarkes success was to teach the children, the students success was to be given hope and a chance for an education and a better life. Clarkes success is measured by the corresponding success of his students.

Mentors definitely learn from their students. The movie Good Will Hunting, is a story about a kid from the other side of the train tracks, an abused orphan with a violent personality yet he was a genius. This is the story of Will Hunting; he was given to chance to be somebody, to succeed in life. He solved mathematical problems that took two years to prove in one night, he is a genius. Though because of his past he doesnt let anyone get close to him besides his best friend Chucky and his mates. Will is discovered solving the problems (he was a janitor in the maths building of the university) and the maths professor Jerry takes him under his wing. Will had to go to counseling because of probationary requirements; Jerry takes him to Sean (Jerrys old school friend). The first meeting doesnt go that well, Will gets Seans emotions going. But Sean perseveres with the boy and they both end up learning from each other. Sean learns how to live again and Will learns that he is someone special and he has to move on with his life. Sean is Wills mentor; both of them have a common past. Mentors should be able to relate to their prot�g�s. Seans success is measured by the corresponding success of Will Hunting.

From all the different examples presented above there was a mutual benefit gained from the relationships. The relationships had depth; the individuals didnt give up when times were testing. This commitment to one another was rewarded with mutual accomplishment and respect. The mentors allowed a safe haven for the student to grow and success was the result. Although the intention of a mentor is not their own success, the consequence of their commitment to their prot�gand their resultant success lead to the corresponding success of the mentor.

Please note that this sample paper on a mentors success is measured by the corresponding sucess of their protege is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on a mentors success is measured by the corresponding sucess of their protege, we are here to assist you. Your cheap college papers on a mentors success is measured by the corresponding sucess of their protege will be written from scratch, so you do not have to worry about its originality. Order your authentic assignment and you will be amazed at how easy it is to complete a quality custom paper within the shortest time possible!

Daimler-Chrysler and the World Automobile Industry

If you order your custom term paper from our custom writing service you will receive a perfectly written assignment on Daimler-Chrysler and the World Automobile Industry. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality Daimler-Chrysler and the World Automobile Industry paper right on time. Out staff of freelance writers includes over 120 experts proficient in Daimler-Chrysler and the World Automobile Industry, therefore you can rest assured that your assignment will be handled by only top rated specialists. Order your Daimler-Chrysler and the World Automobile Industry paper at affordable prices! The world automobile industry had experienced near constant growth through to the mid-180s. The transition from horse carriages to automobilesought about uncertainty over the development of the product during the industrys infant years. As the automobile evolved, demand for automobiles soared at different points in time throughout the world. However, depressed demand eventuated two decades ago after the saturated markets of North America, Europe and Japan. This consequently left industry profitability at a recession. The reasons to why such an occurrence wasought about are explained below.

Porters Five Forces

Threat of Substitutes

The competition of substitutes has remained calm within the industry (Grant, 18). In the absence of close substitutes for a product, consumers usually will not react to price increases and switch to substitutes (Grant, 00). Consumers reasons for demand for an automobile can differ. Fundamentally, motor vehicles serve the purpose to deliver passengers from the departing location to a particular destination. Grant (00) says, "the more complex the needs being fulfilled by the product… the lower the extent of substitution by customers on the basis of price differences". If the intent is solely transportation needs, such a need can be simply satisfied by the substitutes of public transport. On the other hand, more complex needs, such as consumers desiring a more flexible, comfortable, and personal means of transportation, decrease consumers propensity to switch to substitutes. Threat of Entry

New entrants in an industry intensify competition in their respective markets. However, they are usually disadvantaged in respect to competing at the competitive level (Grant, 000). Established manufacturers can hold several abilities gained from survival in the industry that entrants cannot instantly acquire, and these further create barriers to entry into the industry.

It is estimated that over four million vehicles should be produced per year to qualify as a low-cost producer in the automobile industry (Grant, 00). "Economies of scale remains an essential determinant for cost-efficient production, and that without it, high levels of flexibility alone cannot translate into world competitive production" (Husan, 17). The inability refrained most potential new entrants from entering the industry with the exception of Proton (Malaysia) and Maruti (India). Settled in protected markets with acquisition to licenses and support from its government, permits access to required technology and designs of automobiles. This enhanced their ability to produce at low-cost and reduced the distance from established manufacturers.

As a result of increased competition, established manufacturers absolute cost advantages are important and valuable. From experience and early existence in the industry, manufacturers have acquired cost-specific knowledge to drive low-cost production. Though producing at low-cost, product differentiation throughout the market is also important.

Rivalry Between Established Firms

Competing on innovation and cost reduction, established manufacturers created a strong wave of increased competition. As a result of merges, acquisitions, and alike strategic relationships between manufacturers, of small- and medium-sized producers, the industry became more concentrated. Many manufacturers internationally expanding caused greater import activity and construction of foreign plants to accommodate for the foreign markets demand and drive for low-cost (Grant, 18) and to exploit factors that aid research and development (Kuemmerle, 1).

Competing in a sole market may not earn profitable returns; therefore manufacturers decide to participate in other markets. Manufacturers diversifying into numerous segments of the industry caused the number of competitors in national markets to substantially increase. This increase in competition was dangerous for producers who compete predominantly domestically, as they become more pressured by global rivals (Grant, 000), and are often acquired by larger manufacturers as a result, or with other alliances formed.

For its competitiveness, manufacturers standardised designs and technologies of vehicles. This led to great similarity in products between competitors, increasing the difficulty to differentiate for consumers. Inability to differentiate can increase consumers propensity to switchands if they are price insensitive.

The fall in industry profitability was affected by the imbalance between demand and capacity of automobiles. Excess capacity in depressed demand conditions led offerings of price reductions in attempt to disseminate costs over a larger scale of sales. Over-investment in production facilities induced greater capacity, where it grew faster than demand. Substantial exit barriers appeared due to the relative costs to free excess capacity.

Bargaining Power of Buyers

In the output market, relative economic power of buyers is dependent on their sensitivity to price and relative bargaining power. The merge of manufacturing designs and technologies inflicted a low degree of differentiation in automobiles, creating a greater tendency for consumers to switch suppliers of automobiles on the basis on price. The cost of losing a consumer to a supplier in the industry is relatively great when the number of buyers in the market is small (Grant, 00). As a result, the strength of bargaining power of buyers in markets of the industry increased, with the greater proportion of value generated from the transaction residing in the buyers.

There are additional buyers in the automobile industry other than those who consume vehicles for use. Retailers, that manufacturers distribute their products to, also act as buyers. Given that retailers are the only homes of manufacturers products and that there are merely any other accommodations to access the market, their capabilities to negotiate price and to execute specific commands have strengthened their bargaining power against suppliers.

Bargaining Power of Suppliers

Manufacturers play the role of buyers when acquiring vehicle components to produce their products from their suppliers. Manufacturers abandoned backward integration to production and tended towards the Japanese way of production. That is, manufacturers established long run relationships with a particular number of suppliers, creating symbiotic strategic alliances where there is an interdependence between car makers to control suppliers (Banerji & Sambhorya, 18). However, ultimately these suppliers were able to elevated their size and power capabilities. Technology development, beingought about by component suppliers (Grant, 18), has allowed greater power in negotiation and bargaining in their position. Powerful suppliers increasing prices decrease manufacturers profits and/or drive manufacturers to draw more attention on the suppliers rather than their own needs (Cummings & Worley, 001).

The above competitive pressures of Porters Five Forces (Grant, 00) provide judgment on the levels of competition and profitability within the industry. Profitability levels were reduced mainly due to the intense rivalry between established manufacturers and the increased power of buyers and suppliers in the industry. Additionally, international expansion of manufacturing companies found fierce competition in national markets, threatening domestic competitors. These occurrences affect the future prospects of the automobile industry. Predictions towards this will differ depending on the time period the forecast is made upon.

Predictions on the Industry Future

It is predicted that rivalry between competitors in the industry is to continue into the future. National markets of competitors are becoming more concentrated, increasing the difficulty for individual manufacturers to capture market share. This would cause fight for market position and in affect, drive price cuts, decreasing profit margins. A firm gaining some form of competitive advantage is beneficial and important to survive and perform well in the industry. One is cost advantage. Worldwide outsourcing, many to lower-cost locations, produces lower-cost development that new entrants are incapable of and simultaneously, forms a higher barrier to tempted entrants.

Excess capacity occurred due to decreased demand and over-investments in manufacturing facilities in the industry. Potential for market growth is said to appear within the next ten years in Eastern Europe, Russia, China, India, and Latin America. Excess capacity will persist and possibly surface as a major problem if this phenomenon does not occur. Demand was also likely to drop in Japan, Southeast Asia and North America (Grant, 000). With slowing demand also caused by the durability of vehicles and the continuous innovation of designs and technologies, the control between excess capacity and demand will be difficult.

The bargaining power of both buyers and suppliers are predicted to strengthen. Manufacturers, being largely dependent on suppliers for their production efficiencies and quality, were "unconcerned about losing control over production and technology so long as they could control marketing and distribution" (Grant, 000). Furthermore, as mentioned previously, technology development occurred through suppliers. These developments enhanced manufacturers production efforts and therefore, they have seemed to delegate certain decision-making to suppliers.

The foreseeing of buyers also having greater bargaining power originates from minimal product differentiation of manufacturers vehicles. Similarities in products force manufacturers to apply other marketing strategies to appeal to its market. Buyers in society, compared to many years ago, are exposed to more information about products. Educated buyers learn to expect certain features as standard in the product and, furthermore, their expectations towards the product also rise (Czinkota, 000). Manufacturers strive to meet buyer expectations and therefore, lose certain power to their consumers.

Key Success Factors of the Industry

Despite the fact that overall profitability in the automobile industry has declined, it does not signify that all individual manufacturers are performing equally not well. There are reasons to why some manufacturers are performing better than others in the same industry. Some manufacturers may have access to certain resources and perform activities in such a way that permits them to exceed competitors. These elements that drive their performance are sometimes known as key success factors, factors in the market environment that determine a companys ability to survive and thrive in that market (Grant, 00). They are key success factors when manufacturers end up supplying the product of customers and when they can survive competition. This proceeds on to identification of key success factors of manufacturers at competitive positions in the industry.

The ability to be a low-cost manufacturer in the intense market creates competitive advantage. Producing at low cost requires manufacturers to attend to several different aspects of an automobile manufacturers value chain the activities of the manufacturers separated into a sequential chain (Grant, 00). Segments of the chain, from supplies of components and materials to the dealer and customer support, allow closer discussion of cost-reduction in the industry.

Many manufacturers now acquire their components by means of outsourcing throughout the world. Not only does this induce lower cost to manufacturers, but it also offers opportunities for them to focus, and possibly specialise, in fewer activities in the value chain.amorski et al. (000) notes that "Manufacturers no longer compete based entirely on their own strengths…Instead, they compete based on strengths of the entire value chain involving their own organization and their suppliers". For instance, manufacturers concentrate on specialisation in new product development to produce better vehicles in attempt for greater market share.

The adoption of Just-in-time (JIT) manufacturing systems reduces inventory holdings and hence, reduces the costs incurred in the process. Applying such a system lowers carrying costs and investments in inventory. Each is retrieved and pulled from downstream when and only when it is required to replenish vacancies upstream. JIT systems enforce long-term relationships with few suppliers. Consequently, costs are furthered reduced by trust and confidence that suppliers will deliver defect-free, quality components (Davis, Aquilano & Chase, 1).

Mergers, joint ventures and alliances are also seen as a factor consolidating the competitive advantage to success in the industry (Passernard & Kleiner, 000). Such relationships permit exploitation of companies core competences (Wild, Wild & Han, 001). By doing so, manufacturers reduce research and development (R&D), production and/or distribution costs. Manufacturers have also used this strategic move to get a foothold in a new geographical market. A successful example is a joint venture between Japans Suzuki Motor Corporation and the government-supported Maruti in India (Grant, 000). Their initial production of small-engine cars extended to light trucks and now, the manufacturer from the Maruti-Suzuki joint venture is successfully the leader in its market.

Manufacturers grasp the essence of the approach to low-cost production, but put considerable investment into new product development (NPD). NPD has transpired into a very important and valuable capability that a manufacturer can possess in the last decade (Grant, 000). This enable manufacturers to differentiate their products, and in a market where products are growing increasingly similar, NPD is a critical factor to success. For instance, Japanese manufacturers have been successful with NPD, and by the 10s, their advantage over other manufacturers was shorter NPD times in the industry (Grant, 000). Japanese manufacturers attained higher positions within their markets with the access to certain resources and capabilities.

To survive and succeed in the near future, manufacturers must be able to access the above crucial resources and capabilities. That is, low-cost production, the foresight of possible partnerships to exploit opportunities, and NPD, pursuing product differentiation. Successful firms of the industry have thrived in these respects and, simultaneously, distanced away from competition that were not yet able to obtain such skills.

Regardless of the market that manufacturing firms compete in, the most successful in the industry will be those who are able to supply products that meet customer expectations, who understand the drivers of performance success and acquire and exploit these tools to compete. Those who are also able to internationally expand into national markets and compete at a global level see potential for striving in the industry. National markets are becoming more concentrated and competition is continuously increasing. Despite the fact that this might drive down profitability levels, manufacturers seek to survive before they can succeed. Manufacturers only focusing on one geographical market in the industry lack the international diversity and will be beaten by those expanding internationally into their target market (Grant, 000).

In understanding this, it is predicted that the established, experienced Japanese firms, such as Toyota, will continue to come through in the industry. Know-how to low production cost, superior quality and shorter production times is a primary competitive advantage, leading to more efficient competitiveness in their market(s). U.S. and European manufacturers acknowledged the effectiveness of such components and learned to adapt to these practices (Grant, 000). These firms, such as the new Daimler-Chrysler, are also recognised as potential successes. Those manufacturing firms who acknowledge these elements and incorporate these into their practices will have aighter outlook in the near-future years.

In summary, the decline in profitability of the automobile industry wasought about by several structural trends. The fierce competition between rivals and internationalisation caused exits and strategic relationships to form in order to survive. The increasing power of buyers and suppliers in the industry oppositely weakened the strength of manufacturers and that product differentiation had become an important issue in the markets. These phenomena are believed to persist, to a certain degree, into the future, bypassing the possibility that the Daimler-Chrysler merge may induce a phase of consolidation in the industry (Grant, 000). Industry movement is dependent on demand in the markets, and if demand persists downwards, the ability to control excess capacity will be increasingly difficult. However, the future of the automobile industry cannot be guaranteed solely on the basis of past trends. Unexpected events can occur and impact the industry in unpredictable ways.

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