Standard Costing, Operational Performance Measures Free Essays

CHAPTER 10 STANDARD COSTING, OPERATIONAL PERFORMANCE MEASURES 1. MANAGING COSTS 1. Standard-cost systems are used to help managers control the cost of operations. We will write a custom essay sample on Standard Costing, Operational Performance Measures or any similar topic only for you Order Now The system has three components: standard costs (i. e. , predetermined costs), actual costs, and the difference between the two figures (termed a variance). 2. A standard cost for each product cost category (materials, labor, and overhead) is calculated on a per-unit basis. ? This calculation considers the planned quantity of each input factor allowed (pounds, hours, etc. and the planned price for each input factor (price per pound, rate per hour, etc. ). The total planned cost is a mini, per-unit budgeted amount. †¢ After the actual costs are known, a report is generated that shows actual costs, planned costs, and related variances. A manager can examine the variance column quickly to ascertain which exceptions require attention. ? Following up on significant variances is called management by exception. Managers focus their efforts where they are most needed in the limited time available. 2. SETTING STANDARDS . Managers set standards by analyzing historical data. However, past data must be adjusted for expected changes in technology, the production process, inflation, and other similar factors. ? Managers also use task analysis to focus on how much a product should cost. †¢ Knowledgeable people such as engineers, purchasing agents, production supervisors, and accountants should be brought into the standard-setting process. Cross-functional teams are very useful here. 4. Two types of standards may be used: perfection standards and practical standards. Perfection (ideal) standards assume that production takes place in the ideal world: employees always work at peak performance, materials are never defective, and machines never break down. ? Although some managers feel that ideal standards give employees a goal to shoot for, many behavioral scientists believe that setting unattainable goals has a demotivating effect, as employees simply give up trying to reach the standard. ? Practical (attainable) standards are set high enough to encourage efficient an d effective operations but not so high as to seem impossible. Behavioral scientists feel that practical standards have a more positive effect on the productivity of employees. ? Unlike variances computed with perfection standards, variances calculated when practical standards are employed tend to be more meaningful as they represent deviations from a realistic goal. †¢ Service firms also use standards. For example, McDonald’s restaurants are noted for using standards, not only for quantities of material (amount of beef per burger) but also for the time allowed to serve customers at the drive-in window or counter. . VARIANCE ANALYSIS 5. Variance analysis involves calculating the actual amount of input used and comparing it to the budgeted amount of input that should have been used (i. e. , the standard cost allowed for actual output). The variance is then analyzed into its component parts. 6. Standards are established for: ? The amount of material required to produce a fi nished product (the standard material quantity). ? The anticipated delivered cost of materials (the standard material price). The number of hours normally needed to manufacture one unit of product (the standard direct-labor quantity). ? The estimated hourly cost of compensation (the standard labor rate). †¢ The following model can be used to calculate variances for direct materials (DM) and direct labor (DL): DM Price = (AQ Purchased x AP) – (AQ Purchased x SP) DM Quantity = (AQ Used x SP) – (SQ Used* x SP) DL Rate = (AQ x AP) – (AQ x SP) DL Efficiency = (AQ x SP) – (SQ* x SP) * Standard quantity for the actual production level Notice that the price and rate variances use a similar approach, and the quantity and efficiency variances use a similar approach, with efficiency being another way to say â€Å"quantity of hours† allowed. †¢ Unfavorable variances arise when the actual cost per unit of input (e. g. , gallons, hours, etc. ) exceeds standard cost and when actual quantities used (e. g. , gallons, hours, etc. ) exceed standard quantities. The opposite situation gives rise to favorable variances. 4. VARIANCE INVESTIGATION 1. A manager does not have time to examine each variance; therefore, he or she must consider selected factors in deciding when an investigation should take place. The factors include one or more of the following: ? Size of the variance (in absolute and/or relative terms, such as $5,000 or 10% of standard cost) ? Frequency of occurrence ? An otherwise small variance may require investigation if it consistently occurs, as it may indicate an ongoing problem or an outdated standard. ? Trends ? Controllability (there is little point to investigate items over which managers have no control). Favorable variances ? A manager should investigate both favorable and unfavorable variances. A favorable variance with advertising expense, for instance, could lead to the conclusion that an insufficient amount is being spent on promotion, which could lead to a loss of customers. ? Costs and benefits (the decision to investigate involves a cost-benefit analysis, as a number of investigative costs are incu rred). Some companies use a statistical approach to variance investigation by preparing a statistical control chart. These charts help to pinpoint random and nonrandom variances, with a statistically determined critical value being compared to a variance to determine whether an investigation is warranted. 5. BEHAVIORAL IMPACT OF STANDARD COSTING 1. Variances may be used to evaluate personnel, often with regard to salary increases, bonuses, and promotions. ? Such incentives can have positive and negative effects, as a bonus plan may prompt a manager to pursue actions that are not in the best interests of the organization. ? An example of detrimental behavior: A purchasing manager may purchase cheap material to create a favorable price variance. That material could be of poor quality, which might result in excess usage and problems with the finished product. 6. CONTROLLABILITY OF VARIANCES 2. It is rare that one person controls any event; however, it is often possible to identify the manager who is most able to influence a particular variance. These managers are often the following: ? Direct-material price variance—Purchasing manager ? Direct-material quantity variance—Production supervisor and/or production engineers ? Direct-labor rate variance—Production supervisor ? Direct-labor efficiency variance—Production supervisor . Variances often interact, making investigation and controllability difficult. For example, a labor efficiency variance may be caused by problems not only with labor but by problems with machinery and/or material. ? Managers sometimes trade-off variances, purposely incurring an unfavorable variance that is more than offset by favorable variances. 7. STANDARD COSTS AND PRODUCT COSTING 4. In a standard-cost system, costs flow through the same accounts in the general ledger as shown earlier in the text; however, they flow through at standard cost. In other words, Work-in-Process Inventory, Finished-Goods Inventory, and Cost of Goods Sold are carried at standard cost. 8. ADVANTAGES OF STANDARD COSTS 2. A standard-cost system has several advantages, as follows: ? Managers have a sensible comparison method at their disposal, one that looks at budgeted costs vs. actual costs at the actual level of output. ? Managers can practice management by exception. ? Variances provide a benchmark for performance evaluation and employee rewards. ? Standard costs provide a stable product cost. Actual costs may fluctuate erratically, whereas standard costs are changed only periodically. 9. CRITICISMS OF STANDARD COSTING IN TODAY’S MANUFACTURING ENVIRONMENT 3. Criticisms of standard costing in advanced manufacturing settings include: ? Variances are too aggregated and arrive too late to be useful. Variances should focus on activities, specific product lines, or production batches. ? Variances focus too much on the cost and efficiency of labor, which is becoming a relatively unimportant factor of production. Standard costs rely on a stable production environment, and flexible manufacturing systems have reduced this stability, with frequent switching among a variety of products on the same manufacturing line. ? Standards focus too much on cost minimization and not enough on product quality, customer service, and other contemporary issues. 10. OPERATIONAL CONTROL MEASURES 5. Many companies now focus on an increased number of performance measures, many of which are nonfin ancial in nature. Examples often include: ? Customer-acceptance measures such as customer complaints, warranty claims, and product returns. Delivery cycle time, or the average time between the receipt of a customer order and the delivery of goods. ? Manufacturing cycle time, or the total production time per unit. ? Manufacturing cycle efficiency, or processing time divided by the sum of processing time, inspection time, waiting time, and move time. †¢ To judge how well or poorly a company is performing, many firms use benchmarking, which involves comparing existing performance levels against those of either other organizations or other units within the same organization. †¢ How to cite Standard Costing, Operational Performance Measures, Essay examples

Standard Costing, Operational Performance Measures Free Essays

CHAPTER 10 STANDARD COSTING, OPERATIONAL PERFORMANCE MEASURES 1. MANAGING COSTS 1. Standard-cost systems are used to help managers control the cost of operations. We will write a custom essay sample on Standard Costing, Operational Performance Measures or any similar topic only for you Order Now The system has three components: standard costs (i. e. , predetermined costs), actual costs, and the difference between the two figures (termed a variance). 2. A standard cost for each product cost category (materials, labor, and overhead) is calculated on a per-unit basis. ? This calculation considers the planned quantity of each input factor allowed (pounds, hours, etc. and the planned price for each input factor (price per pound, rate per hour, etc. ). The total planned cost is a mini, per-unit budgeted amount. †¢ After the actual costs are known, a report is generated that shows actual costs, planned costs, and related variances. A manager can examine the variance column quickly to ascertain which exceptions require attention. ? Following up on significant variances is called management by exception. Managers focus their efforts where they are most needed in the limited time available. 2. SETTING STANDARDS . Managers set standards by analyzing historical data. However, past data must be adjusted for expected changes in technology, the production process, inflation, and other similar factors. ? Managers also use task analysis to focus on how much a product should cost. †¢ Knowledgeable people such as engineers, purchasing agents, production supervisors, and accountants should be brought into the standard-setting process. Cross-functional teams are very useful here. 4. Two types of standards may be used: perfection standards and practical standards. Perfection (ideal) standards assume that production takes place in the ideal world: employees always work at peak performance, materials are never defective, and machines never break down. ? Although some managers feel that ideal standards give employees a goal to shoot for, many behavioral scientists believe that setting unattainable goals has a demotivating effect, as employees simply give up trying to reach the standard. ? Practical (attainable) standards are set high enough to encourage efficient an d effective operations but not so high as to seem impossible. Behavioral scientists feel that practical standards have a more positive effect on the productivity of employees. ? Unlike variances computed with perfection standards, variances calculated when practical standards are employed tend to be more meaningful as they represent deviations from a realistic goal. †¢ Service firms also use standards. For example, McDonald’s restaurants are noted for using standards, not only for quantities of material (amount of beef per burger) but also for the time allowed to serve customers at the drive-in window or counter. . VARIANCE ANALYSIS 5. Variance analysis involves calculating the actual amount of input used and comparing it to the budgeted amount of input that should have been used (i. e. , the standard cost allowed for actual output). The variance is then analyzed into its component parts. 6. Standards are established for: ? The amount of material required to produce a fi nished product (the standard material quantity). ? The anticipated delivered cost of materials (the standard material price). The number of hours normally needed to manufacture one unit of product (the standard direct-labor quantity). ? The estimated hourly cost of compensation (the standard labor rate). †¢ The following model can be used to calculate variances for direct materials (DM) and direct labor (DL): DM Price = (AQ Purchased x AP) – (AQ Purchased x SP) DM Quantity = (AQ Used x SP) – (SQ Used* x SP) DL Rate = (AQ x AP) – (AQ x SP) DL Efficiency = (AQ x SP) – (SQ* x SP) * Standard quantity for the actual production level Notice that the price and rate variances use a similar approach, and the quantity and efficiency variances use a similar approach, with efficiency being another way to say â€Å"quantity of hours† allowed. †¢ Unfavorable variances arise when the actual cost per unit of input (e. g. , gallons, hours, etc. ) exceeds standard cost and when actual quantities used (e. g. , gallons, hours, etc. ) exceed standard quantities. The opposite situation gives rise to favorable variances. 4. VARIANCE INVESTIGATION 1. A manager does not have time to examine each variance; therefore, he or she must consider selected factors in deciding when an investigation should take place. The factors include one or more of the following: ? Size of the variance (in absolute and/or relative terms, such as $5,000 or 10% of standard cost) ? Frequency of occurrence ? An otherwise small variance may require investigation if it consistently occurs, as it may indicate an ongoing problem or an outdated standard. ? Trends ? Controllability (there is little point to investigate items over which managers have no control). Favorable variances ? A manager should investigate both favorable and unfavorable variances. A favorable variance with advertising expense, for instance, could lead to the conclusion that an insufficient amount is being spent on promotion, which could lead to a loss of customers. ? Costs and benefits (the decision to investigate involves a cost-benefit analysis, as a number of investigative costs are incu rred). Some companies use a statistical approach to variance investigation by preparing a statistical control chart. These charts help to pinpoint random and nonrandom variances, with a statistically determined critical value being compared to a variance to determine whether an investigation is warranted. 5. BEHAVIORAL IMPACT OF STANDARD COSTING 1. Variances may be used to evaluate personnel, often with regard to salary increases, bonuses, and promotions. ? Such incentives can have positive and negative effects, as a bonus plan may prompt a manager to pursue actions that are not in the best interests of the organization. ? An example of detrimental behavior: A purchasing manager may purchase cheap material to create a favorable price variance. That material could be of poor quality, which might result in excess usage and problems with the finished product. 6. CONTROLLABILITY OF VARIANCES 2. It is rare that one person controls any event; however, it is often possible to identify the manager who is most able to influence a particular variance. These managers are often the following: ? Direct-material price variance—Purchasing manager ? Direct-material quantity variance—Production supervisor and/or production engineers ? Direct-labor rate variance—Production supervisor ? Direct-labor efficiency variance—Production supervisor . Variances often interact, making investigation and controllability difficult. For example, a labor efficiency variance may be caused by problems not only with labor but by problems with machinery and/or material. ? Managers sometimes trade-off variances, purposely incurring an unfavorable variance that is more than offset by favorable variances. 7. STANDARD COSTS AND PRODUCT COSTING 4. In a standard-cost system, costs flow through the same accounts in the general ledger as shown earlier in the text; however, they flow through at standard cost. In other words, Work-in-Process Inventory, Finished-Goods Inventory, and Cost of Goods Sold are carried at standard cost. 8. ADVANTAGES OF STANDARD COSTS 2. A standard-cost system has several advantages, as follows: ? Managers have a sensible comparison method at their disposal, one that looks at budgeted costs vs. actual costs at the actual level of output. ? Managers can practice management by exception. ? Variances provide a benchmark for performance evaluation and employee rewards. ? Standard costs provide a stable product cost. Actual costs may fluctuate erratically, whereas standard costs are changed only periodically. 9. CRITICISMS OF STANDARD COSTING IN TODAY’S MANUFACTURING ENVIRONMENT 3. Criticisms of standard costing in advanced manufacturing settings include: ? Variances are too aggregated and arrive too late to be useful. Variances should focus on activities, specific product lines, or production batches. ? Variances focus too much on the cost and efficiency of labor, which is becoming a relatively unimportant factor of production. Standard costs rely on a stable production environment, and flexible manufacturing systems have reduced this stability, with frequent switching among a variety of products on the same manufacturing line. ? Standards focus too much on cost minimization and not enough on product quality, customer service, and other contemporary issues. 10. OPERATIONAL CONTROL MEASURES 5. Many companies now focus on an increased number of performance measures, many of which are nonfin ancial in nature. Examples often include: ? Customer-acceptance measures such as customer complaints, warranty claims, and product returns. Delivery cycle time, or the average time between the receipt of a customer order and the delivery of goods. ? Manufacturing cycle time, or the total production time per unit. ? Manufacturing cycle efficiency, or processing time divided by the sum of processing time, inspection time, waiting time, and move time. †¢ To judge how well or poorly a company is performing, many firms use benchmarking, which involves comparing existing performance levels against those of either other organizations or other units within the same organization. †¢ How to cite Standard Costing, Operational Performance Measures, Essay examples

The Case †Boeing Commercial Aircraft Comeback

Table of Contents Introduction Reasons of downfall of Boeing Remedial Measures taken Future Demand Business tactics being followed Conflicts Recommendations Introduction The Boeing Company was started by William Boeing in 1916, in Seattle. The initial name was Pacific Aero Products Company that was later (1917) changed to Boeing Airplane Company. It was in 1919 that Boeing made history by carrying the earliest international mail.Advertising We will write a custom case study sample on The Case – Boeing Commercial Aircraft: Comeback specifically for you for only $16.05 $11/page Learn More Their association with the US military started in 1923. Until 1950, Boeing kept a low profile, but in 1950, based on speculations, it took a massive risk in deciding to manufacture a bigger aircraft that would serve a dual sales purpose; to military and to commercial airlines. The aircraft was named Dash 80 and the aircraft was ready in 1956. In 1966, Boeing de veloped the world famous 747. For the first time, Boeing ventured into sub-contracting of work. Most of the work of 747 was sub-contracted to Japanese companies Kawasaki, Fuji and Mitsubishi. During the years, Boeing has taken over companies like Vertol Aircraft Corporation (1960) and Hughes Space and Communications and also had a merger with Rockwell International aerospace and defense units (1996) and McDonnell Douglas (1997). After the debacle in the mid 1990s, Boeing staged a comeback in the year 2006. Its main competitor was Airbus. By mid-2006, it was able to garner sales orders for its newest entrant, the super-efficient wide bodied 787, apart from the existing 737 and 777 jets. Now Boeing has five aircraft â€Å"families† that differ in their size and capacity namely, the 737, 747, 767, 777, and 787. These have different seating capacities, ranging from 100 to 500. Each family again comes in different variants. On the other hand, Airbus has four families namely, the A 320, A300/310, A330/340, and A380. The seating capacity ranges from 100 to 550. It will better to understand the factors owing to the comeback of Boeing if we first evaluate the reasons of its downfall. The purpose of writing this report is to ascertain the factors leading to the comeback of Boeing Commercial Aircraft in the aviation market. Reasons of downfall of Boeing Owing to the competition and subsequent drop in the sales of its aircrafts, Boeing could not meet its breakeven point which, at that time, was 250 to 270 aircrafts. The development costs were also too high. Boeing spent almost $5 billion on the development of the 777 and $8 billion on the 787.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The performance of the airline industry and the demand of aircrafts are related in the sense that if the airlines are doing well, the demand for newer aircrafts will keep on pouring in, but if the airline industry is facing a slump, it will have an effect on the demand of aircrafts as well. After the terrorist attack in 2001, there was a steep decrease in airline travel and consequently, the demand of new aircrafts decreased. Figures reveal that the global airlines, as a whole, lost about $40 billion during the period 2001 to 2005. There are various other factors that lead to the low traffic turnover in the airlines industry; number of employees, multiple job performance, in-flight services, choice of airports, etc. After January 2004, there was a surge in jet fuel prices; more than doubled. As a result, the cost of jet fuel took 25% of the total operating costs, as compared to 10% in 2001. One of the major setbacks for Boeing happened in 1990, when the company decided to lower their prices in order to gain market share. The company also increased the production capacity subsequently to which, it had to hire thousands of extra workers. These workers had been b orrowed from the suppliers of Boeing. This was again an insane decision by the company. The suppliers fell short of labor and could not deliver the components on time. As a result, the production was delayed and Boeing had to shell out penalties to the tune of $1.6 billion. Remedial Measures taken Boeing learnt a bitter lesson from this debacle of 1990. The company then decided to follow the â€Å"Moonshine Creative Philosophy† and the policy of â€Å"Lean Production†. The company sent teams of its executives to Japan in order to study the manufacturing system of leading manufacturers of Japan, especially Toyota. The lean production system was evolved by Toyota, in place of the normally used mass production system. Ohno Taiichi, an employee of Toyota, was the one to develop this system. Ohno visited the US plants of Ford and was of the opinion that the mass production system was not good. He pointed out three major problems. Firstly, in mass production system, huge sto rage capacities are required to store huge inventories. This involved huge amount amounts of money for the warehouses. Secondly, if there is a defect in mass production system, a huge lot would be rejected because of the defect. This again will incur huge losses. Thirdly, the mass production system doesn’t allow customer specific production. Because the products were manufactured in bulk, hence any single product could not be different from the others. Further, Boeing executives noticed that large machineries were being used to manufacture small parts.Advertising We will write a custom case study sample on The Case – Boeing Commercial Aircraft: Comeback specifically for you for only $16.05 $11/page Learn More So they decided to invent new smaller machineries. Teams called â€Å"moonshiners† were formed for this purpose and were given the task. The team noticed that 80% of the components were less than 12 inches long, whereas much lo nger machines were being used. Adhering to the new systems of lean production and moonshine, the huge machineries were replaced with smaller ones that could be moved freely. One of the innovations of the moonshiners was the system of loading and fixing the seats. Initially, once the chairs were delivered, wheels were attached to each of them and transported in a container to the area near the aircraft. The container was lifted by an overhead crane and brought to the level of the aircraft’s surface. The seats were then rolled inside the aircraft and then fixed. This was a very time consuming job. The moonshiners invented a new method of loading the chairs through the passenger door. This process consumed almost 6 times less time. This change reduced the time of production to a great extent. The company could make customer specific products also and finally, big warehouses were not required due to the implementation of the just-in-time inventory system. These measures decreased the cost to a great extent. Apart from the inventions made by the moonshine teams, Boeing adopted various other measures to control the cost and expenses. One of the most important decisions was to change from the static line of assembly to the moving line of assembly. Normally, aircrafts are placed on platforms with ramps all around. Workers move in and out to bring parts and fix them. Once the work at a particular workstation is finished, moving the aircraft to another workstation is a cumbersome process. The aircraft has to be brought down on a moving platform and then slowly moved towards the other workstation. This involves too much time. So in 2001, Boeing installed a moving line of assembly at its Renton plant near Seattle. In this system, the aircraft is mounted on a platform that keeps moving at a speed of 2 inches per minute. The workers have enough time to fix the components. The platform passes through various stations where parts automatically arrive at the time they a re needed. This process involves lesser time and all the work is done in a systematic way. Each workstation has its own light system that has different lights for different status. So if there is a problem in any workstation, it is immediately detected and resolved. The effect of all these new methods was visible gradually. By the year 2005, the time required for assembling a 737 was reduced from twenty two hours to eleven hours. Also, the work in progress inventory was reduced by 55% and the stored inventory by 59%. All the production lines, except that of the 747, have been changed from static to movable.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Future Demand The future demand of aircrafts is mainly based on three aspects namely, speculations about the future worldwide economic growth, future demand for air travel, and the financial conditions of the world airlines. Both the major aircraft manufacturing companies Boeing and Airbus have their own predictions. According to Boeing’s 2006 report, the world economy was supposed to grow by 3.1% per annum, to be continued till the next 20 years. This projected growth was supposed to generate a growth of 4.8% in passengers and 6.1% in cargo. Based on these figures, Boeing came out with the figures that an estimated 27,210 new aircrafts (1360 per year) would be required within the next 20 years. The value of these aircrafts was put at $2.6 trillion. It is expected that out of these new aircrafts, 9580 will be replacements for those aircrafts that will have retired from the flying service. As per estimates, by 2025 the total number of aircrafts all over the world will be 35,97 0. In 2005 the figure was 17,330. Further, it is expected that North America will place almost 28% of the new orders, Asia Pacific 36% and Europe 24%. Business tactics being followed Owing to the profitability of the 747, Boeing had an upper hand in the larger jet segment. The 747 was the most profitable aircraft of its times, that gave Boeing a monopoly. But since the design was very old (1960s), it was sort of out dated. Moreover, many people believed that a new super jumbo aircraft with up to 900 seats would be in great demand. So during the 1990s, Boeing and Airbus initialized plans to develop a new aircraft in place of the old 747. Initially it was agreed between Boeing and Airbus that the project would be a joint one but later (1995), Boeing backed out saying that the costs were too much and the demands were not certain. So Airbus started working on the project on its own. The proposed aircraft was named A3XX, with a capacity of 500 passengers. Airbus forecasted the demand of such aircraft to be around 1,400 over the next 20 years. The cost of development was estimated to be around $9 billion which ultimately rose to $15 billion. In response to this, Boeing started drafting plans for newer versions of the 747 family namely, the 747-500X and the 747-600X. The 747-500X was to have a capacity of 460 passengers and a range of 8,700 miles and the 747-600X 550 passengers and a range of 7,700 miles. But in 1997, Boeing withdrew its plans citing limited market and high development costs ($7 billion) as the reasons. The company also considered the fact that the bigger wing span of the new versions of the 747 would require airports to modify their gates. Another reason cited by Boeing was that due to the increase in â€Å"point to point† flights across oceans the demand of such big aircrafts would not be too much. Instead, Boeing planned to come out with new versions of the 767 and the 777 that would have the capacity of flying up to 9,000 miles and passeng er capacity of 400. However, Airbus carried on with its plans to develop the A3XX mentioned earlier. In December 2000, the board of directors approved the development of the aircraft. The name given to the new aircraft was A380. The development costs were put at $12 billion and the plane was scheduled to start operation in 2006. Singapore Airlines was the one to start the operations. The aircraft was supposed to have twin decks, more leg room, and wider aisles. The capacity would be 555 passengers. According to Airbus, their new version would be able to carry 35% more passengers than the 747-400. Moreover, the cost per ticket would be 15 – 20 % less. It also stated that no change was required at the airport to accommodate the A380. But it was observed that London’s Heathrow airport had to spend about $450 million to make way for the aircraft. Eighteen US airports also had to spend around $1 billion to make changes at their respective airports. In response to this, in M arch 2001, Boeing formally made the announcement that it’s new â€Å"sonic cruiser† was capable of carrying 250 passengers with a flying capacity of 9000 miles. The speed was said to be just a little less than that of sound. The company claimed that the new aircraft would reduce the transatlantic journey by one hour and the transpacific journey by three hours. It was planned to make the sonic cruiser with low weight carbon fiber composites. This would keep the operational costs to a minimum. The offer seemed very interesting but due to the downslide in the aviation industry due to the 2001 disaster, both the parties became less interested. Again Boeing came up with another proposal. This time the conventional aircraft was to be developed using composite technology. The plane was given the name 7E7, where the ‘E’ stood for â€Å"efficient†. In 2005, the plane was renamed as 787. In April 2004, the 7E7 was launched with in-hand orders of 50 aircrafts worth $6 billion. The company that gave the order was Japan’s All Nippon Airlines. This was supposed to be the largest single order in Boeing’s history. The 7E7 was supposed to carry 200 to 300 passengers for up to 8500 miles. It had twin engines, two aisles and the body was quite wide. The features were suitable for long point to point flights. The plus point was that this version was a step ahead of its closest competitor, the A330-200. The 7E7 could fly 750 miles more than the A330-200. Another positive aspect of the 7E7 was that it was lighter and as such would consume about 20% less fuel. The seats and the aisles were also wider. The windows would be larger for a picturesque view. The 7E7 would gather pressure 6000 ft altitude as compared to the normal practice of 8000 ft. the humidity was to be 20 to 30 %. The estimated cost of the 7E7 would be $7 to $8 billions and the scheduled launch was in 2008. It was decided that almost 35% of the plane’s fuselage an d wing structure would be built by Boeing itself and the remaining work was planned to be subcontracted to various companies. The Japanese companies that had previously worked for Boeing namely Mitsubishi Heavy Industries, Kawasaki Heavy Industries and Fuji Heavy Industries were subcontracted 35% of the work and around 26% of the work was subcontracted to Italian companies, mainly Alenia. Boeing also convinced the subcontractors to bear some share of the development costs. Boeing’s wide bodied plant at Everett, Washington was selected as the assembling place. The subcontracted work was supposed to be done by the subcontractors at their facilities and then shipped to Everett. In order to speed up the assembling, the parts from the subcontractors were proposed to be airlifted. The assembling time was also reduced to three days. Boeing was able procure good orders for the 787. In 2004, it booked 56 orders, in 2005 – 232 orders and in 2006 – 85 orders. The total was 373 aircrafts. The figures were beyond the breakeven point. Seeing the response of the 787, Airbus also announced its new model, the A350 that would compete with the 787. The capacity of the A350 was similar to that of the 787 (200 to 300 passengers). It was also made of composites. But unfortunately, Airbus could not garner that much response. The airlines were hesitant in placing the orders because they were of the opinion that the A350 did not match the 787 in quite some respects. The operating efficiency was not up to that level, the flying range was less and there were lesser amenities for the passengers’ comfort. Conflicts Due to the competition between Boeing and Airbus, there have been a lot conflicts and tensions between the two companies, with both companies blaming each other of enjoying unfair government subsidies. Airbus was able to get $13.5 billion as government subsidies from the period 1970 to 1990. A maximum of this amount was in the form of low interest lo ans. In 1992, both the companies reached an agreement to rubbish their differences and conflicts. The European Union negotiated the pact according to which the subsidies were fixed at 33% of the total cost of production of a new aircraft. This amount was supposed to be repaid, with interest, within a period of seventeen years. The indirect subsidies were fixed at 3% of the country’s annual commercial aerospace revenue. Recommendations If Boeing Company wants to continue being a feasible aircraft manufacturer, it should stop bothering about the short term gains. It should also stop investing in non-profitable ventures of developing new versions of aircrafts. This case study on The Case – Boeing Commercial Aircraft: Comeback was written and submitted by user Brian Nieves to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

A Tale Of Two Cities Essays - English-language Films, British Films

A Tale Of Two Cities Essays - English-language Films, British Films A Tale of Two Cities In the fictitious novel Tale of Two Cities, the author, Charles Dickens, lays out a brilliant plot. Charles Dickens was born in England on February 7, 1812 near the south coast. His family moved to London when he was ten years old and quickly went into debt. To help support himself, Charles went to work at a blacking warehouse when he was twelve. His father was soon imprisoned for debt and shortly thereafter the rest of the family split apart. Charles continued to work at the blacking warehouse even after his father inherited some money and got out of prison. When he was thirteen, Dickens went back to school for two years. He later learned shorthand and became a freelance court reporter. He started out as a journalist at the age of twenty and later wrote his first novel, The Pickwick Papers. He went on to write many other novels, including Tale of Two Cities in 1859. Tale of Two Cities takes place in France and England during the troubled times of the French Revolution. There are travels by the characters between the countries, but most of the action takes place in Paris, France. The wineshop in Paris is the hot spot for the French revolutionists, mostly because the wineshop owner, Ernest Defarge, and his wife, Madame Defarge, are key leaders and officials of the revolution. Action in the book is scattered out in many places; such as the Bastille, Tellson's Bank, the home of the Manettes, and largely, the streets of Paris. These places help to introduce many characters into the plot. One of the main characters, Madame Therese Defarge, is a major antagonist who seeks revenge, being a key revolutionist. She is very stubborn and unforgiving in her cunning scheme of revenge on the Evermonde family. Throughout the story, she knits shrouds for the intended victims of the revolution. Charles Darnay, one of whom Mrs. Defarge is seeking revenge, is coneztly being put on the ezd and wants no part of his own lineage. He is a languid protagonist and has a tendency to get arrested and must be bailed out several times during the story. Dr. Alexander Manette, a veteran prisoner of the Bastille and moderate protagonist, cannot escape the memory of being held and sometimes relapses to cobbling shoes. Dr. Manette is somewhat redundant as a character in the novel, but plays a very significant part in the plot. Dr. Manette's daughter, Lucie Manette, a positive protagonist, is loved by many and marries Charles Darnay . She is a quiet, emotional person and a subtle protagonist in the novel. One who never forgot his love for Lucie, the protagonist Sydney Carton changed predominately during the course of the novel. Sydney , a look-alike of Charles Darnay, was introduced as a frustrated, immature alcoholic, but in the end, made the ultimate sacrifice for a good friend. These and other characters help to weave an interesting and dramatic plot. Dr. Manette has just been released from the Bastille, and Lucie, eager to meet her father whom she thought was dead, goes with Mr. Jarvis Lorry to bring him back to England. Dr. Manette is in an insane state from his long prison stay and does nothing but cobble shoes, although he is finally persuaded to go to England. Several years later, Lucie, Dr. Manette, and Mr. Lorry are witnesses at the trial of Charles Darnay. Darnay, earning his living as a tutor, frequently travels between England and France and is accused of treason in his home country of France. He is saved from being prosecuted by Sydney Carton, who a witness confuses for Darnay, thus not making the case positive. Darnay ended up being acquitted for his presumed crime. Darnay and Carton both fall in love with Lucie and want to marry her. Carton, an alcoholic at the time, realizes that a relationship with Lucie is impossible, but he still tells her that he loves her and would do anything for her. Darnay and Lucie marry each other on the premises of the two promises between Dr. Manette and Darnay. Right after the marriage, while the newlyweds are on their honeymoon, Dr. Manette has a relapse and

How to Write a Nursing Case Study Essay

How to Write a Nursing Case Study Essay How to Write a Nursing Case Study Essay Lots of non-nursing students have the mistaken notion that nursing students do not have to write a lot. After all, they spend their time in biology and chemistry labs and do field experiences. Actually, there is a long history of writing for such students: They must learn how to write a nursing entrance essay, because no one can get into nursing school without one. They often struggle with these, do some research and look for tips on writing a nursing school admission essay. If these students are looking of financial aid, the may indeed have to compose an amazing nursing scholarship essay Many courses in medical fields require essays, research papers, lab reports and more. And many of them are really challenging because they are all on scientific topics and often involve some lab research. A typical medical school essay, for example will involve research of existing literature and the setting up of a study based upon that literature. Writing a Nursing Essay Nursing students will find that a basic essay assignment will have the same structure as essays they have written for non-medical courses – introduction, body, and conclusion. The one thing that may differ in the essay writing process may be the formatting. It is common for Harvard formatting to be required in medical programs, so students will want to research Harvard strategies for essay writing. The â€Å"rules† are definitely a bit different. The other caveat in all of this is that medical students’ essays do regularly involve some lab research that the student has conducted. In these cases, the conclusion will be a bit different from that of another type of essay. Often, the conclusion must speak to the significance of the results of a study. Learning how to write a conclusion for a nursing essay can be a bit challenging and will take some practice. Writing That Nursing Case Study Essay It is inevitable. As nursing students move into their upper level coursework, they will be spending far more time in hospitals completing lots of field experience. And there is coursework associated with those practicums. Part of that coursework will involve one or more case study essays. These are different from any other writing assignments you have had in the past. Let’s look at how a case study is structured – while specific department guidelines may vary a bit, the elements will be common. What is a Case Study? A nursing case study is an in-depth study of a patient that is encountered during the student’s daily practice in a practicum. They are important learning experiences because the student can apply classroom/theoretical learning to an actual situation and perhaps make some conclusions and recommendations. It will require lots of planning of methodology, literature reviews, and careful documentation as the case study proceeds. Sections of a Case Study There are three large sections – Information about the Patient; The Nurse’s Assessment of the Patient’s Status; and the Treatment Plan, along with Recommendations. Within each large section there are sub-sections. Section 1 – Patient Status This section includes demographic information, the patient’s medical history, and the current patient’s diagnosis, condition, and treatment. Here you will obviously speak about the patient – and you will commit all of this information to writing. Do not rely on your memory – write everything down. You will also need to explain why the information is important to include in your study. You will need to include the reasons why the patient sought medical care and make note of the first symptoms the patient experienced. Next, you will identify the subsequent diagnosis that was made. Given the diagnosis, what is the process/progression of the disease? You should include its causes, the symptoms, what you have observed. Describe what your role as a nurse will be.    Section 2 – Nursing Assessment You will need to prepare your own assessment of the patient’s condition. And as you produce that assessment, be certain to explain why you have made each assessment. For example, suppose a patient has a diagnosis of cancer. One of the symptom presentations is difficulty in urination. You will need to document that urination issue and suggest potential causes of it. Then you will need to come up with options for treatment based upon the potential causes. And, in this case, how will you determine the cause of the issue? Section 3 – The Current Treatment and Recommendations for Improving It Describe the treatment – medication, therapy, etc. and explain why each treatment is appropriate for the disease. You will also need to discuss how the treatment plan is improving the patient’s quality of life. What are the treatment goals? What are the benchmarks for assessing success and how, specifically, will it be documented? The Implementation and Documentation Once the treatment has been implemented, it will be your job to document each treatment activity – time, dose, etc. – and then track the improvement that does or does not occur. Suppose, for example, that you begin a regimen of a diuretic for your cancer patient. How will you determine success? How long will you implement the treatment to determine success or not? And if it is not successful, what is your next treatment option? The data you gather must be carefully recorded and then reported in this section of your case study. This is the same as any scientific study. You must also analyze the data before you make decisions about the efficacy of the treatment plan and come to conclusions. Toward the end of this section, you will be making recommendations – they may be simply to continue the current treatment plan; you may have conducted some research that shows another or an additional treatment plan is warranted. In this case, you may very well recommend this new treatment plan. Just remember, you must justify any recommendation you make, and usually this comes from medical research literature. Crafting a nursing case study really has two major tasks. First, you select a patient, and begin to collect history. You also set up treatment plans and collect data to determine the efficacy of the plan and then determine your recommendations. Second, you actually have to write up the final piece. And it must be impeccably written. If you have concerns about your writing skills, consider finding an essay writing service nursing department. While there are lots of writing services out there, you want one that has a specific group of researchers and writers with experience in producing medical case studies. You may even find a specific nursing essay writing service UK that exists only for helping medical program students. Such experts will be familiar with the style, tone, formatting, and terminology and can make quick work of your write-up.

Child-Centered Curriculum Assignment Example | Topics and Well Written Essays - 500 words

Child-Centered Curriculum - Assignment Example Thus, he uses four instincts to determine the character of the child. These are social, constructive, expressive, and artistic. Moreover, he accentuates that in every instinct, there's a corresponding curriculum that best suits the child. At first sight, John Dewey's child-centered curriculum may looked biased. However, I see it more effective rather than the philosophy proposed by disciplinarists who are main skeptics of John Dewey's belief. I discern that giving importance to a child's' decision help them restrain unnecessary actions and make them more responsible in their own lives. It not only set a perception where they are trusted but also divulge things they are capable of doing. Students, in able to be more effective should know what they really want. This will help them decide which field to pursue. Here, they are more assured to keep on track because they go in the path that interests them. As a shift manager, I seldom put my team under pressure. I motivate them through engaging them with healthy challenges, achievements and fair recognitions. As aforementioned above, I am sensitive to my team's' feelings rather than the goal. If truth be told, my management style varies towards different people just like curriculum towards students. In my job, I tend to handle different people. Same with John Dewey's treatment to students, I prefer giving my team the right to discover their individuality beyond rules and regulations.

Critique Assignment Coursework Example | Topics and Well Written Essays - 1500 words

Critique Assignment - Coursework Example The research being conducted is a quantitative research where trials and simulations were used to collect data. In this research, the participants were subjected to tests, some of which were multiple choices, while some involved the use of a Likert-scale, to measure their response towards the questions asked, and the research question at large. The previous studies in the research include a study by Ackerman, Kanfer and Goff (1995) with their study on cognitive and noncognitive determinants and consequences and complex skill acquisition. Another study is by Kanfer and Ackerman (1989). Kraiger, Ford and Salas (1993) are other authors whose study on the interaction between goal orientation and cognitive ability, was used in the study. Studies by Dweck (1986, 1989) on motivational processes affecting learning were also used in the literature and motivation, were also used in the literature. Farr, Hofmann and Ringenbach (1993) on goal orientation and action control theory, also had their study used in the literature of this study. Studies by Button et al. (1996) on goal orientation in organizational research, Ford, Smith, Weissbein, Gully and Salas (1998) on relationship on goal orientation, Kozlowski et al. (2001) on effects of training goals and goal orientation on multi-dimension training, and Philip and Gully (1997) on role of goal orientation, ability need for achievement and locus of control in the self-efficacy goal setting process, are among other studies listed in the literature review.