Production College Essays Samples For Students

Production planning and quality management is one of the key indicators of any company’s productivity. This is especially the case for multinational companies that conduct business in diverse and highly competitive business environment. In such a scenario, an optimized production process is one of the key factors that give the company competitive advantage and profitability. Some of the key factors of production include quality, productivity, efficiency, cost of production labour characteristics and cycle time to mention but a few. In this case analysis the chip manufacturer can only optimize its production process and eliminate the inefficiencies by focussing on the three major factors of production i.e. quality, cost of production and labour characteristics. ...

Introduction

Regional industrialization is an essential step in the process of economic development. The economists and the politicians believe that regional industrialization can form an economic structure in the regions to provide the necessary ground for socioeconomic development. Industrialization reveals the potentials of the regions by exploiting the regional resources including natural resources, human resources, and financial resources.
The basic theoretical expectation from regional industrialization is to develop new jobs for the people and stimulate the entrepreneurship in the region. At the first step, regional industrialization stimulates the human resources in the region. Assuming that regional industrialization brings new opportunities ...

According to Marx, revolutionaries required a new historical theory. Marx preferred the theory by Hegel, which he supported in his argument. Marx started his argument with the social class and furthered to the people’s relation, and the means of production. According to Marx, m6en are classified into definite relations that are independent of their relations of production. The relations of production are made of the foundations, the economic structure, and the political superstructure. According to Rigby, Marx states that historical change is because of contradiction, and conflict. The mode that is used in production affect the overall process ...

-How is Toyota affected by Globalization?-

Individual Assignment for Managing Resources in the International Business Environment

4.2 The role of national culture in shaping Toyota`s lean mean production system 6
5. Toyota`s expansion of production in the United States and Europe 6
5.1 Entering in the NUMMI joint venture 7
5.2 Relationships that Toyota used to manage suppliers 7
5.3 Evidence and long-term competitive advantage for becoming more of global corporation 8
5.4 Pros and Cons of globalization 8
6. Conclusion 8
7. References 8

Business

04 December 2013

How is Toyota affected by Globalization?

The reaches and access of Toyota is approximately everywhere in the world.
The company has its plants every continent ...

Introduction

The ideology of leanness is a concept that researchers have been trying to develop new and improved methods that will reduce to a very large extent all the wastages that are associated with the manufacturing industry at every stage and activity. Lean manufacturing is the production of more by doing less or by use of less material through reducing wastages at every level of a production stage. Leanness has become a very critical evaluation tool that is used for the comparison of recently developed approaches. It is nowadays used by all the new researchers in determining the viability of ...

International trade

Technology is a critical factor in production and international trade. The competitiveness of a country correlates with the level of technological development. Posner’s technology gap model explains the trade that exists between an innovative country that comes up with a new technology and the country that imports products from the innovative country. According to Posner, a country that has a technology lead will benefit from international trade so long as it keeps the lead. Due to the economic differences between countries, technological advancement and product innovation do not take place simultaneously in countries (Krugman & Obstfeld, 2012).
Innovative countries ...

In supply business, the duties of a supply chain manager are to work with manufacturers, suppliers, distributors, retailers and customers. The sale of goods and the services for delivery are managed by them. The supply chain managers must be well acknowledged about the market, and they must have a keen decision making capability so that they can accomplish their goals. The managers are expected to have knowledge about procurement; quality, service, and project management; production planning; transportation and inventory control. The supply chain managers must be able to counter any day to day changes and apply strategies to overcome ...

Standard costing and variance analysis

The standard cost is the predetermined cost that is carefully and definition. The estimated cost of the production of a single unit or the cost of different service performance is done (Rajasekaran & Lalitha, 2011). This is the narrow definition of the standard cost. The broad meaning of the standard cost is the estimated production cost that is involved in the projects, operation production and the administrative purposes. The standard costing uses the techniques that standardize the cost and the revenues. This is in the purpose of controlling the cost factors and the determinant through the variance analysis.
It is ...

The term “historical materialism” refers to a methodology for studying history, economics and society. Its first expression came from Karl Marx, who presented it as the materialist conception of history. This theory seeks to explain changes in productive capacity and technology on the basis of the organization of economy and society as a whole. The theory focuses on the means that humans use to generate the necessities of existence. The relationships among the social classes, the political structures at work in a society, and the general ideologies at play all are part of the consideration. Since the time of ...

Introduction

The modern age has brought forth a series of innovations that have enabled people to organize themselves better through the formation of various structures. Modernism, as it stands, focuses on the presence of structures that provides for the organization of human actions. Verily, the concept of nationalism is a crucial aspect of modernist thought, standing as a prevalent status quo starting from the 19th century.
This study explores nationalism under the lens of modernism. How is nationalism a uniquely modern concept? What preceded nationalism in terms of organizing people politically? How did the modern period feature the emancipation of ...

Introduction to Materials Management

Logistics or material management (MM) basically handles the processes of procurement to payments, from inventory management through final receipt of invoices and verification process. This includes overseeing a placement and movement of related tangible items. The basic elements associated with materials management are quality control and inventory management. Some analysts consider spare parts as one of the major elements as well. Materials management is vital in huge production and distribution environments. The prime objective of this type of management is to maximize quality service and to minimize the cost; to be able to fulfill customer demands at required place ...

Introduction

Traditional and well-known manufacturing companies often struggle to implement newer process changes and manufacturing practices in business. Economic order quantity was a popular concept in the early part of 20th century. Almost all companies then used economic order quantity purchasing policy. Most of the companies probably benefitted from implementing economic order quantity (EOQ), but some failed as it was not relevant for the product type and industry. In the later part of 20th century, many new manufacturing process techniques came into limelight. Just in Time system, Toyota Production System, Theory of Constraints, MRP and ERP systems, TPM, Lean manufacturing ...

Cement is an integral material in the construction industry and apart from infrastructure and building construction; cement has its vital role in economic development of the nations. The consumption and production are on the increase due to rapid population growth and fast industrialization. As a matter of fact, that industry is facing numerous challenges in the context of energy resources and environmental issues in the form of greenhouse emissions during the process of production. In addition, its production is associated with differently economic activities and it is predicted to grow even with a faster rate in the future years. ...

Inventory Costs

Introduction
Production can be described as a flow concept, which measures the volume of output per unit of time. The efficiency of production refers to the proportion of total resource content that can be transformed into a product that can be sold to the market. There are a number of ways that can be used to improve the efficiency of production techniques that are used by the firm. These strategies are either qualitative or quantitative in nature. They are the subject of discussion in this report.

Raw materials refer to the inputs used in developing the final product. They ...

24, 03, 2014

QUESTION 1
- Develop a master production schedule for the bread-maker. What do the projected ending inventory and available-to-promise numbers look like? Has Realco “overpromised”? In your view, should Realco update either the forecast or the production numbers?
In this case, master production schedule form the core of this approach even though the stability of the approach is question because of the numerous assumptions on which it is based. The quantities supplied and demanded are derived from Jack’s unverified assumptions. Thigh heightens the cost of inventories, which consequently leads to the lowering of the profit margins for ...

Cultural Ideology and Art - Framing a Cultural Ideology Based on Societal Practices

Introduction
Cultural ideology and art based on societal practices looks at social production, cultural autonomy, theories, as well as late capitalism. The underpinnings of the academic exploration of this subject take into consideration art and culture as part of a dominant ideology as well as aesthetic autonomy. In this academic exercise answering these and other structured inquiry presented in this discourse, engage further considerations of the course texts of Halley, Halley, Halley, Valdez, and Nava as well as others in this field of cultural studies. In addition, this academic exploration and discourse offers examples from the texts of specific ...

(Course Name and Number)
(Date Submitted)

Introduction

In contemporary times, films with local Asian themes have become highly popular in Western media formats, especially those produced in Hollywood. A crucial factor to think about when it comes to the popularity of local Asian themes is the constant lookout of Hollywood producers for new themes that they deem as “exotic” or outside the typical Western contexts they have produced for so long a time already. Such is understood within the idea that Western media is much more popular compared to East Asian media, mainly because of the fact that English has ...

Introduction

Economics studies the rationality of human beings. They maximize on deriving the possible benefits from a resource constraint. Economics covers a vast area. The broad meaning of economics gives rise to sub branches of economics. It may either be international economics or domestic. International economics involves both international trade and finance. It explains the patterns of transactions and relations of citizens from different countries and their consequences. International trade section of international economics studies the flows of goods and services from the international suppliers and international buyers. International finance focus on the effects of the exchange rates and capital ...

Abstract

Competition has increased over the years due to globalization and improved access to information. Consequently, firms are constantly attempting to reduce cost, improve efficiency and increase demand to remain competitive. In this regard, many firms in this era have fully dedicated management and cost accountants who constantly look for ways to reduce running and production cost. One of the inventions meant to cut costs is the philosophy of lean accounting, which includes just in time (JIT) production and total quality management (TQM).
The aim of this paper is to suggest to Uptown clinic chief administrator on how she can ...

New research shows that most fanatics of live art performances such as youths are put off by the formal concert formats that are embraced by most of the performing arts companies. The ideas leave correspondents questioning whether the immersive experience that is characterized by the theatrical nature is the way to go for the future of the live performance and art industry. Over the last few years, alternative musical experience has been adopted. Alternative experiences in art performances have been found to be popular across the world. Live performance companies such as the OperaUpClose’s production at the Cock ...

Abstract

Supply chain activities require proper coordination and a good network of logistics that ensure prompt acquisition of materials, good control of manufacturing processes and distribution of products to dealers or retail consumers. It is important for the management of Hyundai to adopt total quality management, quality improvement, and strategic planning among other models of leadership to ensure production of quality items that meet customers’ satisfaction. Besides, having a good sales and marketing strategy is essential for sustainability of Hyundai operations. Lean Six Sigma is a concept that can be adopted and implemented in the company as an approach to ...

Introduction

Question 1
When you navigate with a high amount of water under the keel, you will feel much comfortable compared to a place with low tide.in low tide, there is danger beneath the surface which increases the probability of causing damage and it makes the boat flounder.in instances where things are working as planned and profits are high the presence of layer of fat is assumed to be in place and this holds all corporate activities and waste (Black, Ronald and DeGarmo, 67).
When the water level is lowered, more rocks will be exposed hence the company will implement ...

[Your Full Name]

Problem 1
Opportunity Cost
- Define the term “Opportunity Cost”
Opportunity cost is the value of the foregone mutually exclusive alternatives. When choice are to be made between several mutually exclusive alternatives in terms of decision making, opportunity cost is the value of alternative that is forgone due to selection of some other alternatives. Generally, opportunity cost is the value of next best alternative that can be achieved with same input. For example: George had $2 in his pocket which is enough to buy either a cup of tea or a cup of coffee. Among them ...

Introduction

The desire for shopping organic fruits and vegetables verses those that were produced traditionally was among other propelling factors that gave birth to ACME Marketing and Consulting by MR. Frederick Nelson a retired government employee. The firm growth and establishment was based on the shopping interests where Frederick and his wife growing pricing and marketing analysis based on the two options led to the need to explore the preceding objectives in reference to the local farmers and distributors; develop a common ground where farmers and the distributors share information, to achieve this he enacted strategies where organic farmers and ...

The dynamic growth of the economy leads to accelerated consumption of all types of resources (material, energy, financial, etc.). This paper will focus only on the problems of the use of raw materials and energy resources, as it is one of the most topical problems nowadays. Over the decade, global consumption of oil, gas and coal increased by almost half, while the demand for energy is doubling every 12-14 years.
About 70% of oil and 50% of coal extracted from the subsoil were mined over the last 15-20 years. Naturally, all this has led to the depletion of the ...

The United States government has made plans to increase the use of biofuels in the coming years in an attempt to replace the use of fossil fuels. Admittedly, the use of fossil fuels in the earlier years has been alarming in the United States because of the excessive emissions of carbon (IV) oxide gas and other gases that cause global warming. In the past, the country has had a decline in agricultural production because of the serious changes in climate as a result of global warming.in order to meet the increasing energy demands in the united states, replacing the ...

Introduction

The economics of war as defined by the economists is the contingencies that appear in the form of sets that is undertaken by the globalised nation's state to mobilize its economical infrastructure and economy for war production. The great patron of economics, Philippe le billon defined the economics of war or a war economy as the system that is to produce and mobilize the resources to sustain the violence that occurs in the time of war. When the measures are taken to settle the economic infrastructure like tax rates are increased with effect that increasing in the tax rates ...

How are demand management and production planning linked to logistics planning?

A customer’s demand for a good is very important in the supplier’s plans for meeting the needs of his client. The nature and urgency of the client’s needs are evaluated and this helps the supplier in coming up with plans to meet the requirements of the customer. Proper management of demand dictates the success of the supplier and thus demand needs to be carefully analyzed to come up with proper logistics plans. The demand dictates the supply chain option to be adopted to ...

How they Have Changed Music Production

Abstract
The music industry has made many changes over the years. From old style music played on phonographs, to music made purely on a computer, the past century has brought forth incredible technology. Arguably, the biggest change in music production has come in the form of digital audio workstations (DAWs). DAW’s have changed the music industry from being dependent on large music production studios, to being able to happen in anyone’s living room.
The purpose of this paper is to explain the many ways in which DAW’s have impacted the music production industry. In order to ...

Abstract

Guinea has various sectors, which contribute significantly to the economic GDP in the country. There are various major contributors to the country’s economy including the mining sector and agriculture. Production of commodities and services in the area has a major effect on the growth and development of the economy, in Guinea. Electricity generation presents an imperative sector in the country’s economic system as it is a major driver of production in the economy. Generally, the production of electricity is generated through a combination of thermal and hydroelectric plants. Equatorial Guinea has an estimated generation of 11,000MW ...

Town-City

Arguably the ideas of Just-in-time (JIT) have had the most significant influence on operations of the manufacturing industries in the past twenty years. It has also had a significant impact on the service operations, specifically the ‘back office’ operations. In most management circles JIT is now being referred to the lean operations practice. As such it has broadened to a philosophy of how organization’s operations should be managed. This Philosophy emphasizes on the avoidance of all forms of waste, maintaining high levels of quality and reliability and on the need of reduced throughput time of resources already transformed.
...

Introduction

“Demand for palm oil has further increased in recent years as many developed economies are shifting away from the use of trans fats, to healthier alternatives.”—World Growth (2011, p. 6), The Economic Benefit of Palm Oil to Indonesia
The demand for palm oil was significantly high before recent research studies that confirm the fact that trans fats and hydrogenated fats impact negatively on one's health by causing diseases influenced by inflammation. However, after the revelation of the findings of these research studies, leading producers of palm oil, such as Indonesia and Malaysia, felt the need to increase their ...

Abstract

The project deals with the problem of wind energy as an alternative power source. The need for green or environmentally safe sources of electricity is a rigid must these days since the amount of emissions and pollutants require humankind to switch to harmless alternatives that will prevent ozone layer from depleting and global warming from evolving into an unstoppable ecological calamity. The project scrutinizes wind energy production capacities in the leading European countries, such the United Kingdom, Germany, Spain, and Denmark, with industry prospects and current energy achievements being given a particular focus of attention. Statistics derived from scientific ...

Operations management is a process of organizing and managing resources produced and delivered by a particular organization. The example of Toyota, a vehicle manufacturing industry provides a perfect demonstration of the significance and nature of an operations management department in an organization. In the same manner the engine is the core of the motor vehicle, operations are the core resources of an organization. Operations management is actually the field which deals with planning and overlooking the production and distribution of its manufactured products. Operations managers have predetermined delegated activities in the organization which ensure efficient production of goods and ...

The approach taken in the construction of the argument in this essay is based on the proposition that companies and firms which employ illegal immigrants face more risks than the advantages that are poised by the adoption of this action. There is a thorough exposition into the legal demerits that lurk and have the highest chance of affecting the firms thus causing dire consequences in the overall functioning of the companies concerned. While this consequence will affect the functioning and output of the company, the image of the firms also is placed at stake. The paper observes the consequences ...

Respected Madam,

I am grateful for the opportunity that your company has provided me, and I will do my very best to avail the opportunity. I have studied economics from my middle school to obtaining a master’s degree in the subject. I have learned several concepts for the manufacturing sector, and the service business over the years, and many concepts helped me making rational decisions in my life, and work life. One concept that stood out for me, and can be very important for your company as well is the diseconomies of scale. However, before defining the concept it is ...

Introduction

Quality of services and products determines whether an organization will be successful or not. Consumers essentially expect the business organizations to maintain high quality level and at the same time consider it as an imperative aspect of satisfaction. For that reason, quality management becomes very crucial as far as any business organization is concerned. This quality management can in real sense be accomplished through a variety of quality control techniques. Quality control and quality assurance are objective oriented and can actually be achieved by statistical quality control.
As a result, quality control refers to a process through which the ...

Research Paper

Academic level: Professional
Paper Format: MLA
Spacing: Single
Final Research Paper
Academic level: Professional
Paper Format: MLA
Spacing: Single

Wizard Writers

Part I Student XYZ
DD MM YYYY

Economic Thought

1. Ibn Khaldun in his work The Muqaddimah has as a central organizing principle for society. His concept of Asabiyyah, or social cohesion, refers to the social bonds that form as a result of divisions of labor. Explain how this principle is derived from this “division of labor.”
Prolegomena is a book written by North African Muslim historian, Ibn Khaldun in 1377 which records an early view of universal history. Called “Muqaddimah” the ...

Many international companies choose to produce their goods for sale in underdeveloped and developing countries mainly because of the cheap cost of production and ease of entry into these countries (Deresky). However, with recent events, many issues have come up concerning the massive production by the companies and the accompanying safety and welfare of the workers in these countries. From an analysis of the Bangladesh case, many issues have been raised and need to be addressed in order to solve this growing problem. From the article, it can be seen that the problem became known after a series of ...

1. Introduction

According to the Food and Agriculture Organization of the United Nations (2010), nearly one billion people suffered from hunger in 2010, representing nearly 16% of the population of developing countries. At the same time, the world population is growing and global warming threatens the production of crops. Profound changes are needed in the way that food production and food consumption are perceived, or the world may face mass starvation. Genetically modified (GM) technology has been found capable of feeding the world but there are concerns regarding its safety (Moseley 2002, Carpenter 2010). ...

Genetic food modification is the laboratory process of artificial alteration of the genes in the DNA of a food crop or organism majorly used for human consumption, using the novel science and biological techniques based on the molecular and structural composition of food crops or organisms (Freedman 4). Genes carry genetic information that is key determinants of the trait that an organism will have; traits like color, disease tolerance, disease susceptibility, among other traits. Through recombinant DNA technology, the gene makeup of an organism and characteristics can be altered or be injected in another organism. ...

Problem 1

a.) Impact of globalisation on Australia’s automotive industry:

The industry has access to major world markets like the U.S.A and Europe. This presents an increased market size to which the industry can participate by selling their products. This means that globalisation is providing more opportunities to the Australian automotive industry.

Globalisation provides major vehicle producers with a grater choice as to the locations for designing vehicles, obtaining supplies of a particular model they produce and a choice as to where they obtain components for their various models. This has resulted in an increased competitive pressure for ...

Operations management is very crucial a process in the control of activities and decisions involved in the production, maintenance and delivery of goods and services. In encompasses all the activities and responsibilities that are employed in managing resources in production, maintenance and delivery of products and/or services. In at least every organization, there exists an operations arm that is mandated with such tasks of decision making and responsibility taking in trying to manage a company’s resources. This arm of management is usually headed by an operations manager who is responsible for supervisory work in managing these resources that ...

Introduction

China is considered the manufacturer of the world. Several manufacturers of computers, clothing and machinery, are made in China. The manufacturers are mostly located in the east coast provinces of China. The most important Chinese cities in the manufacturing sector are Shanghai, Dalian, Qingdao, Suzhou, Ningbo and Shenzhen.
The lower wages are the most important consideration the multinational companies establish its manufacture facilities in China. The minimum day wage evolves from USD 1.23 to 1.84 USD in China, compared with the minimum wage in Australia USD 16.88 and Germany USD 11.6. Additional to the minimum wage the availability of ...

Abstract

The sole objective of this paper is to analyze the histories of marketing as directed. The first part defines the concept marketing. Having familiarized ourselves with the concept, we then proceed to study the emergence of modern marketing, changes in context and the marketing discipline from the past to the most recent change witnessed.

Marketing defined

Marketing as a process is a way of corresponding the value of a service(s) or goods to the buyers. Marketing forms a link between the material requirements and the economic response pattern in the society. In most cases, marketing has been looked at as ...

Introduction

India government spending has been increasing over years. Currently the country is experiencing a budget deficit of 4.3% of gross domestic product. Sizeable amount of the deficit is financed by borrowing internally, however considerable amount is also borrowed externally. The high budget deficit is attributable to increased spending on direct cash subsidies and weak economic growth outlook which does not allow the government to increase tax. The subsidies which have lately been increased are petroleum and food subsidies. On the other hand, the weak economic performance has been attributed to decreasing external and internal demand of India’s goods ...

Abstract

The maintenance of a large-scale enterprise resource planning (ERP) is an expensive venture that should not lead to failure. Yet this is what happens when companies do not follow the correct procedures. Companies discard essential parts such as risk evaluation, benefit scrutiny, performance objectives, and cash flows. Instead, some companies assume that the computer will change a company into a model of efficiency. Without clear and concise application, the ERP system can be a disaster. Perhaps the biggest reason for the failure of most ERP programs is the old school model of practice. ERP requires a change of thought ...

Elements of Lean

Lean is a production practice that aims at satisfying customers through immediate delivery, high quality products, and time. Numerous manufacturing companies are turning to lean manufacturing processes for revenue maximization. Lean manufacturing can create strong financial results for an organization. Production System in Toyota was the first system to begin utilizing the concepts of lean manufacturing. Lean manufacturing is the methodical removal of waste, implementation of uninterrupted flow, and customer pull system (Carreira, 2005, p.45). This paper discuses lean manufacturing in GM (General Motors Corporation) and how it fits in with the company’s vision

The first basic element ...

Introduction

Every forward-thinking organization should factor in all its stakeholders in its key strategies and processes of production. It is thus prudent for these organizations to effectively manage the resources involved in the production processes of goods and services. These processes are managed with the key stakeholders namely customers, suppliers, shareholders, employees and society in mind (Kamauff, 2010, p. 67). The processes and strategies incorporate performance objectives of the organization and its focus on achieving profitability and competitive edge in the industry it finds itself in. It is, therefore, important for an organization to aim to achieve a balance of ...

Introduction

Every forward-thinking organization should factor in all its stakeholders in its key strategies and processes of production. It is thus prudent for these organizations to effectively manage the resources involved in the production processes of goods and services. These processes are managed with the key stakeholders namely customers, suppliers, shareholders, employees and society in mind (Kamauff, 2010, p. 67). The processes and strategies incorporate performance objectives of the organization and its focus on achieving profitability and competitive edge in the industry it finds itself in. It is, therefore, important for an organization to aim to achieve a balance of ...

Industry operations are subject to several factors that shape its attractiveness and determine its players’ success. Such factors determine individual firm’s operations and performance as well as the industry competitiveness. In that respect, this report presents an analysis of the energy and sports drinks industry in view of a possible introduction of a new product concept. Thus, the analysis covers the industry competitiveness that is done using the Porter five forces. In addition, the factors affecting the industry and their implications for the brand have been analyzed using the PESTLE model. Finally, the report summarizes the analysis noting ...

Budgeting

Budgeting
It is very important for the management of the production or manufacturing business to identify the nature of the costs and expenses to maximize the profits of the business. In a manufacturing business, the management must utilize their labor and machines to minimize the idle time. Moreover, the main expenses of the business such as, rent of the factory and utility bills are those fixed expenses that must be recovered from the proper activity level of the production. Therefore, in these circumstances, the costs which are already incurred are called the sunk costs of the business and the ...

Critical Study of Standard Costing and Variance Analysis

Standard costing is a method of developing cost standards of the whole or part of business activities so as to set particular cost estimates which can be later compared with the actual costs that have been used. The variations are then investigated and used to identify loop holes within the organization. The standard costs may then be changed periodically depending on current prevailing costs so as to reconcile them with actual costs. The main reason standard costing is used is to approximate the costs that will be used in a period so as to make it easier to draw ...

REFEREE PAPER FOR

“ONE SIZE FITS ALL? HECKSHER OHLIN SPECIALIZATION IN GLOBAL PRODUCTION” BY PETER K. SCHOTT
Following the American Psychological Association’s Guidelines
SUMMARY
The paper analyzes one of the most famous issue in the science of economics: Why do the countries trade with each other? The Heckscher Ohlin model, a classical approach in this issue, provides an explanation by using specializations steaming from the endowments of a country. This model has two main stream: Single-cone and multiple-cone versions. Single-cone version assumes that all the countries have the same production technologies or in another word a product is produced same way ...

Why "Tangled" (Film) is Post-modern

Studies of Modern Media are required to be comprehensive in their analysis of the varying main approaches used within the field. Through inclusion, these studies require individualized active engagement, with regard to research and analysis. They are crucial in enabling students improve their understanding on the prevailing contexts under which modern media exists and functions. Consequently, as provided in the text – Media Studies: Texts, Production, and Contexts (2nd Ed.) – by Long & Wall (2012), current contexts require individuals to actively analyze with the prevailing forms of existing media. This should be at both the intellectual and practical levels, with extra ...

Introduction

This paper explores the various forms of economic systems and their methods of allocating resources. Economic resource allocation seeks to achieve economic efficiency in all dimensions of resource allocation among the various economic actors within any economic set up. The major focus will mainly entail the command economy as well as the market system of economy. A market system of economy, normally known as capitalism or free economy is a system of resource allocation in which the factors of production are allowed to move freely, the economy is allowed to operate freely without intervention from the central governments. It ...

Introduction

Microeconomics deals with individual firms and units’ decision making in an economy while macroeconomics addresses the greater national aspects. In that respect, this analysis seeks to demonstrate the functioning of both microeconomics as well as macroeconomics concepts by analyzing two current issues in the US addressed in two articles or the news and touching on such concepts. This is achieved by the analysis first explaining the problem as presented in the article and its possible causes. The analysis further explains the significance of the issue and its possible cause of economic fluctuations as well as its effect including benefits ...

Introduction

On a historical footing, an industrial engineer is concerned with the production processes that a company applies to produce goods for their customers. As such, the industrial engineer was tasked with the role of minimizing the production cost while maximizing the product output of the company. However, over time environmental concerns and awareness has increased around the world. Both legislation based requirements and customer demands have titled in favor of companies that observe the green standards, that is, companies that adhere to environmental standards. Owing to this global trend, industrial engineers have had to factor in the environmental conservation ...

OPERATIONS MANAGEMENT

Introduction

Since time immemorial, the management of operations in a firm has always been a source of concern by firms. Generally, an operation refers to any method, process, or even a series of activities practiced in practical nature. The definition encompasses all the human activities in a firm. Operation management can be termed an aspect of efficient management of any operations. Individuals refer to operations and production as being two different aspects of an entity. However, all operations can be termed as collective and therefore are of concern to every individual in a firm. To this end, this paper ...

I. International trade
The exchange of goods, services, and capital across international territories is referred to as international trade. Different countries specialize in producing different goods and trade the goods with each other (Grand mont & McFadden, 1972). This creates mutual benefit in the countries involved. The concept of international trade has been in existence since history, and its political, social, and economic importance has always been on the rise. This trade constitutes a significant share of the Gross Domestic Product of various economies (Kemp & Wan, 1993). Some of the factors that have had a huge impact on international trade ...