Hopeless Odyssey Essay

Why is Odyssey Hopeless? The Odyssey is the entire story of how Odysseus got back home after the Trojan War in Greek mythology. The story narrates the various different trials and tribulations Odysseus had to go through during his adventurous journey home. The very first place he goes to is the land of the Ciconians. He destroys the village with the help of his men, but the next day he is defeated in battle, as more Ciconians arrive at the scene. Although some of his men are killed, he escapes with the rest of his people and goes to the land of the lotus-eaters. Some of his men want to stay behind after tasting the plant, but Odysseus manages to draw them away. He then comes to the home of Polyphemos, which is a huge Cyclops. Polyphemos is also a cannibal and Odysseus with his men gets trapped in his cave. The Cyclops eats some of Odysseus’ men, while he and the rest of them manage to escape. He then lands on the island of Aeolus, who is the Keeper of the Winds. He gets help from Aeolus who sends the right winds and makes him go towards his home in Ithaca. Odysseus almost reaches home before a hurricane blows him off course again and he is prevented from reaching home. Odysseus again goes through a number of increasingly difficult situations until the end of the story when he finally manages to reach home and be united with his wife. Throughout the story, it looks like it is a hopeless Odyssey as whatever the heroes do; they are defeated or struggling with some supernatural and strong creatures. But Odysseus manages to stay focused no matter what the situation is and finally emerges as a real winner. So, maybe his Odyssey is not as hopeless as it seems?

Ap Human Geography Chapter 2 Study Guide Free Essays

AP Human Geography Chapter 2 Study Guide Terms: population density – a measurement of the number of people per given unit of land  ·arithmetic population density – the population of a country or region expressed as an average per unit area  ·physiologic population density – the number of people per unit area of arable land  ·population distribution – description of locations on the Earth’s surface where populations live  ·dot maps – maps where one dot represents a certain number of a phenomenon, such as population  ·megalopolis – term used to designate large coalescing supercities that are forming in diverse parts of the world  ·census – a periodic and official count of a country’s population  ·doubling time – time required for a population do double population explosion – rapid growth of worlds human population during the last century  ·natural increase – population growth measured as excess of live births over live deaths  ·crude birth rate (CBR) – number of live births yearly per thousand people  ·crude death rate (CDR) – number of live deaths yearly per thousand people  ·demographic transition – multi stage model of changes in population growth in countries undergoing industrialization  ·stationary population level (SPL) – level at which national population ceases to grow  ·population composition – structure of a population in terms of age, sex, and other properties  ·population pyramids – visual representation of age and sex composition of a population  ·infant mortality rate (IMR) – describes the number of babies that die within the first year of their lives  ·child mortality rate (CMR) – number of children that die between the first and fifth year of their lives  ·life expectancy – how long, on average, a person may be expected to live  ·AIDS – Acquired Immune Deficie ncy Syndrome  ·chronic diseases – long lasting afflictions now more common because of higher life expectancies  ·expansive population policies – government policies that encourage large families  ·eugenic population policies – government policies to favor one racial sector  ·restrictive population olicies- government policies to reduce the rate of natural increase Notes  ·Change in population is calculated using the following: Global Population Formula – p1 = p0 + b(irths) – d(eaths) Sub-Global Population Formula – p1 = p0 + b – d + i(mports) – e(xports) Net Migration Formula – p1 – p0 + RNI + nm  ·Types of population density: arithmetic density, agricultural density, physiological density, urban density, residential density  ·Major World Population Centers – China, India, Russia, Central Europe, Asia, Northeast Africa, Northeast U. S.  ·Overpopulation – a generally undesirable condit ion where an organism’s numbers exceed the carrying capacity of its habitat Malthus’s Theory, though incorrect, states population rate increases geometrically and the rate of food increase grows arithmetically. We will write a custom essay sample on Ap Human Geography Chapter 2 Study Guide or any similar topic only for you Order Now  ·Demographic Transition Model (http://www. main-vision. com/richard/demographic. htm) Stage 1: Stage one of the demographic transition model is the most primitive of the stages where there is a high fluctuating birth and death rate. Because of this there is no great population growth. These countries or even tribes have very basic living standards such as those in the Amazon rainforest where they hardly have any education, medicaments or birth rates such that population is based on food supply, health of tribe members etc. Other factors involved are no family planning therefore many children or because of the faith of the people which may look at large families as a sign of verility etc. Stage 2: In this stage of the demographic transition model there are a lot of births, however the death rate has gone down to about 20/1000 infants who die. This results in a rise in population due to the fact that more infants are surviving. Reasons for which more people may be surviving may be better health care, improved sanitation such as water etc, more transport and medical care as well as inventions relating to this. In other words this stage involves a slight modernisation in health care raising people’s living standards as well as there life expectancy. Stage 3: Stage three is the stage at which there is already a low death rate as well as a declining birth rate therefore leading to a slight increase in population. The reason for the fall in births may be due to family planning, better education, lower infant mortality rate, a more industrialised way of life and the want for more material possesions as well as women being able to go out to work. In other words these countries are in the final stages of becoming like the western countries such as the states and those in Europe. Stage 4: Stage four is the one at which Switzerland is. There is a stable population whithout much change because both the death and birth rate are low and in some cases there are more deaths than births therefore leading to a possible stage five. Possibly a stage five? A country such as Sweden is currently entering into the negative growth rate meaning that there are less births than deaths so that the country’s population size is decreasing leading to problems which will be discussed later on this page.  ·A population pyramid, also called an age structure diagram, is a graphical illustration that shows the distribution of various age groups in a population (typically that of a country or region of the world), which forms the shape of a pyramid when the population is growing.  ·There is a predicted stage 5 of population growth that will level off at 10 billion people. The world’s population will progressively increase until it ultimately reaches this point.  ·Geography of health is the application of geographical information, perspectives, and methods to the study of health, disease, and health care. Epidemiological transition is a phase of development witnessed by a sudden and stark increase in population growth rates brought about by medical innovation in disease or sickness therapy and treatment, followed by a re-leveling of population growth from subsequent declines in fertility rates. The epidemiological transit ion model represents the developments resulting from epidemiological transition (disease and treatment).  ·The People’s Republic of China has pursued anti-natalist policies, notably the ‘one-child’ strategy, for over a decade. While anti-natalist government policies may be instrumental in lowering birth rate, state coercion may have unexpected and damaging results; reports in 1995 suggested that abortion of female children had become common in China, so that male : female sex ratios at birth had become grotesquely imbalanced. How to cite Ap Human Geography Chapter 2 Study Guide, Essay examples

Effects Of Different Teaching Approaches In Introductory Financial Acc

Question: Describe about The Effects of Different Teaching Approaches in Introductory Financial Accounting? Answer: Preparation of Cash Flow forecast for Wonderpump Metric Year 0 1 2 3 4 5 6 7 8 Revenue 487500.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 profit margin 40% -195000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 Gross Profit 292500.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 cost of material 60% 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 Cost of labour 40.00% 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 Annual Fixed Costs -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 Delayed payment 1000.00 -1500.00 Disposal -650000.00 650000.00 Lost disposal -5000.00 Working Capital -21937.50 -4875.00 26812.50 Tax 87750.00 117000.00 117000.00 117000.00 117000.00 117000.00 117000.00 117000.00 Net CF -675937.50 -73625.00 -38000.00 -38000.00 -38000.00 -38000.00 -38000.00 122000.00 798812.50 Cum CF -675937.50 -749562.50 -787562.50 -825562.50 -863562.50 -901562.50 -939562.50 -817562.50 -18750.00 Assumptions: It is assumed that rate of return increases with the investment done by the company. Tax is paid after the income is calculated in the income statement . The rate of increment in the income of the company is 40% with the rate of investment 283% as given in the data. Cost of capital and cost of labour is divided in the ratio of 60:40 Analyzing the Cash flow and assessing the investment using the investment appraisal techniques in Wonderpump Discounted factor 12.00% 1.00 1.00 1.00 1.00 1.00 1.00 1.00 PV 117000 117000 117000 117000 117000 117000 117000 NPV (11,10,014) IRR 17% Payback period 15.8 16.2 PV sales 12000 2% 12,54,965.45 -1% Gross profit 3,90,000 3% Fixed cost 1054984.25 2% The different techniques analysis the rate of return derived from the company after investing in the business and analyzing the investment (Berkovitch and Israel, 2013). In the case of payback period, it shows the returns derived from the business and the duration required deriving the profit and revenue. In addition, the other instrument of investment appraisal shows the accounting rate of return that shows the rate of return from the business in the accounting period rather than the investment period (Chiang, Nouri and Samanta, 2013). On the other hand, the net present value states the present financial condition of the business. Therefore, Gunther can analyze the condition of the current business and can analyze the forecasted value of the company by going through the activities carried out currently. In the current case study, the assumption has been made with 283% rate of return from the investment of 650,000 Euros (Collins, 2015). Furthermore, it is also seen that the present value of the company can also show the different cost incurred by the company in order to carry out with the business operation. The internal rate of return is the rate of return from the business received from the internal sources. Therefore, in the current case study it is assumed that the internal rate of return is 283% of the total revenue of the company (Damodaran, 2015). It can be said that these techniques differ from each other because these different techniques shows different analysis of the financial position of the company. As per the evaluation of the data, it is seen that Gunther must forecast 45days as the period for yielding the rate of return from the business rather than 60 days and offer the payment to the suppliers in 20 days rather than 30, in order to speed up the process of the business (Haas and Haas, 2015). Critically analyzing the Investment Analysis Techniques of Wonderpump PV NPV (11,10,014) IRR 17% Payback period 15.8 16.2 As per the table of NPV, IRR and payback period of the data derived from Wonderpumps Exhibit 1 and from the case mentioned, the value for NPV, IRR and payback is shown above. As seen in the case, that Gunther have inaugurated new pump with the technology that evolved and re-engineered in the new generation (International Monetary Fund, 2014). The IRR ratio of 17% shows that company is having good rate of return from the internal and external source of returns therefore, making the ROI forecasted as 283%. Furthermore, it is also assumed that the inflation rate is also not that high that it will affect the unit production cost of the product and depreciation shall be carried out over 8 years. Analysis of the assumptions made in the calculations Metric Year 0 1 2 3 4 5 6 7 8 Metric Year 0 1 2 3 4 5 6 7 8 Revenue 487500.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 profit margin 40% -195000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 Gross Profit 292500.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 cost of material 60% 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 Cost of labour 40.00% 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 Annual Fixed Costs -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 Delayed payment 1000.00 -1500.00 Disposal -650000.00 650000.00 Lost disposal -5000.00 Working Capital -21937.50 -4875.00 26812.50 EBITDA (6,75,938) (1,61,375) (1,55,000) (1,55,000) (1,55,000) (1,55,000) (1,55,000) Interest Tax 30% 202781.25 48412.50 46500.00 46500.00 46500.00 46500.00 46500.00 Depreciation 80,000 80000.00 80000.00 80000.00 80000.00 80000.00 80000.00 PAT -473156.25 -32962.50 -28500.00 -28500.00 -28500.00 -28500.00 -28500.00 Op Profit -675937.50 -81375.00 -75000.00 -75000.00 -75000.00 -75000.00 -75000.00 Assumptions: The profit margin is assumed as 40% of the total revenue of the business in the economy. Furthermore, the lost disposal is ascertained a 5000 Euros as per the investment in the production is concerned (Ito and Nakano, 2015). Furthermore, the assumptions are made in the tax rate to be 30% of the gross profit of Wonderpump. The depreciations are calculated in the straight line method therefore, making the value of the machinery dissolved in the above case. Reassessing the investment of the Wonderpump The readdressing the value of investment carried out in Wonderpump is shown in the below table with necessary changes made in the investment value and increment revenues ascertained here: Metric Year 0 1 2 3 4 5 6 7 8 Metric Year 0 1 2 3 4 5 6 7 8 Revenue 487500.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 650000.00 profit margin 40% -195000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 -260000.00 Gross Profit 292500.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 390000.00 cost of material 60% 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 3000.00 Cost of labour 40.00% 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 2000.00 Annual Fixed Costs -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 -160000.00 Delayed payment 1000.00 -1500.00 Disposal -650000.00 650000.00 Lost disposal -5000.00 Working Capital -21937.50 -4875.00 26812.50 EBITDA (6,75,938) (1,61,375) (1,55,000) (1,55,000) (1,55,000) (1,55,000) (1,55,000) The re-financing criterion of the company is ascertained in the assuming the changes to be 8 to 10% in the increase in the capital invested and in the returns yield (Kieso, Weygandt and Warfield, 2012). Furthermore, the EBITDA of the company need to be assumed in the above case while calculating the forecasted values of the companys liabilities and assets including the investment made. Furthermore, it is also seen that most of the value have changed due to refinancing of the structure of the capital. Gunther and Jacques ascertainment for the future financing status of the company need to assume the changes in the rate of with the changes made in the investment and the revenue derived from the business. Sensitivity analysis Sales -10% 0% 10% 585000.00 650000.00 715000.00 34% 845.00 126470.00 254170.00 36% 35124.00 54748.00 187514.00 38% 59874.00 32147.00 132414.00 40% 84251.00 31254.00 121547.00 42% 114574.00 40547.00 74158.00 44% 124565.00 65214.00 39470.00 As per the sensitivity analysis, the value provided by Gunther and Jacques conversation is applied in the calculation and the changes in the value is ascertained. Therefore, in such cases, the valuation of the machinery and the assets of the company shall vary (Maali and Jaara, 2014). Feature of debt and equity financing and AGTs capital structure There are several features of debt and equity financing and its comparison to AGTs capital structure. It can be elaborated as: Equity Financing of AGT capitals Structure Having a budgetary authority consider you a check may show up like the perfect answer in case you have to expand your business yet would lean toward not to handle commitment (Nuryanah and Islam, 2015). In light of present circumstances, it's money without the trouble of repayment or premium. In any case, the dollars go with tremendous strings annexed: You must give the advantages to the budgetary examiner or favoured delivery person monetary authority. It's less unsafe than a credit in light of the way that you don't have to pay it back, and it's a not too bad decision if you can't remain to handle commitment. You exploit the theorist's framework, which may add more legitimacy to your business. Monetary authorities take a whole deal point of view, and most don't expect an entry on their theory immediately. The company have to channel advantages into credit repayment. Wonderpump will have more cash close by for developing the business (Palmer, Barber and Zhou, 2015). There's no need to pay back the endeavour if the business misfires. It may oblige gives back that could be more than the rate you would pay for a bank advance. The theorist will oblige some obligation regarding association and a rate of the advantages. You might not have any longing to surrender this kind of control (Ross, Westerfield and Jordan, 2014). You should counsel with theorists before making tremendous (or even timetable) decisions - and you may vary with your budgetary experts. Because of antagonistic clashes with budgetary experts, you may need to exchange for chilly hard coin your section of the business and grant the theorists to run the association without you. It obliges a few genuine vitality and push to find the privilege money related pro for your association. Debt financing of Wonderpump The business relationship with a bank that credits you money is out and out not the same as a development from a budgetary expert - and obliges no convincing motivation to surrender a bit of your association. In any case, if you handle an overabundance of commitment, it's a move that can cover advancement (Velez-Pareja, 2015). The bank or advancing establishment, (for instance, the Small Business Administration) has nothing to do with the way you run your association and does not have any proprietorship in your business. The business relationship closes once the money is paid back as per the situation in the current case of AGT and Wonderpumps. The energy on the development is obligation deductible. Advances can be transient or whole deal. Primary and pastime are known figures you can orchestrate in a budgetary arrangement (gave that you don't assume a variable rate acknowledgment). Money must pay back within a changed measure of time (Warren, Reeve and Duchac, 2013). If the company emphasizes upon a ton on commitment and have salary issues, you will encounter trouble paying the development back of AGT. If Gunther pass on an unreasonable measure of commitment you will be seen as "high peril" by potential theorists which will bind your ability to raise capital by quality financing later on. Commitment financing can leave the business frail in the midst of cruel times when arrangements take a dive. Commitment can make it troublesome for a business to create as a consequence of the high cost of repaying the credit (Osborne, 2015). Assets of the business can be held as insurance to the bank. Likewise, the proprietor of the association is frequently expected to before long surety repayment of the development. Most associations settle on a blend of both quality and commitment financing to address their issues when growing a business (Nuryanah and Islam, 2015). The two sorts of financing together can work honourably to reduce the disadvantages of each. The right extent will vacillate as showed by your kind of business, pay, advantages and the measure of money you need to broaden your business of AGT. References List Berk, J. and DeMarzo, P. (2015). Corporate finance. Berkovitch, E. and Israel, R. (2013). Why the NPV Criterion does not Maximize NPV. Rev. Financ. Stud., 17(1), pp.239-255. Brealey, R., Myers, S. and Allen, F. (2014). Principles of corporate finance. New York: McGraw-Hill Irwin. Chiang, B., Nouri, H. and Samanta, S. (2013). The Effects of Different Teaching Approaches in Introductory Financial Accounting. Accounting Education, 23(1), pp.42-53. Collins, D. (2015). Advanced financial corporate accounting. Damodaran, A. (2015). Applied corporate finance. Haas, J. and Haas, J. (2015). Corporate finance. International Monetary Fund, (2014). Finance and Development, June 2014. Finance Development, 51(2), p.1. Ito, K. and Nakano, M. (2015). International perspectives on accounting and corporate behavior. Kieso, D., Weygandt, J. and Warfield, T. (2012). Intermediate accounting. Hoboken, NJ: Wiley. Maali, B. and Jaara, O. (2014). Reality and Accounting: The Case for Interpretive Accounting Research. ijafr, 4(1). Nuryanah, S. and Islam, S. (2015). Corporate governance and financial management. Osborne, M. (2015). A Resolution to the NPV - IRR Debate?. SSRN Electronic Journal. Palmer, D., Barber, B. and Zhou, X. (2015). The Finance Conception of Control--"The Theory That Ate New York?" Reply to Fligstein. American Sociological Review, 60(4), p.504. Ross, S., Westerfield, R. and Jordan, B. (2014). Essentials of corporate finance. New York, NY: McGraw-Hill Irwin. Velez-Pareja, I. (2015). 3 Decision Methods: Npv, Irr and Others. SSRN Electronic Journal. Warren, C., Reeve, J. and Duchac, J. (2013). Corporate financial accounting. Mason, Ohio: South-Western Cenage Learning.

air force history essays

air force history essays 1- The position of Chief Master Sergeants of the Air Force occupies the top enlisted grade, and has great responsibility and prestige in the Air Force. The objective of this background paper is to inform on the career progression, awards, and decorations of the former Chief Master Sergeant of the Air Force Thomas N. Barnes. In the first main point, I will trace the former CMSAF military career from Non-Commissioned Officer to Senior Non-Commissioned Officer Tier. Secondly, I will discuss the major awards and decorations of former CMSAF Thomas N. Barnes. CMSAF Thomas N. Barnes has been a significant figure in the development of Air Force History. 2- In April 1949 Chief Barnes entered the U.S. Air Force, and received his basic training at Lackland Air Force Base, Texas. After completing basic training, he attended Aircraft and Engine School and Hydraulic Specialist School at Chanute Technical Training Center, Illinois. During this time period the Soviet had controlled East Germany came into existence as the German Democratic Republic. In October 1950, he was assigned to the fourth Troop Carrier Squadron of the 62nd Troop Carrier Group at McChord Air Force Base, Washington. This was in the period when the Air Force had spent much of the 1950s training and equipping itself for a nuclear conflict. In September 1951, he transferred to Tachikawa, Japan, and continued flight engineer duties. Chief Barnes transferred in June 1952 to the 30th Air Transport Squadron, Westover Air Force Base, Mass., where he attended C-118 school and continued his flight engineer duties in that aircraft. In September 1965, he went to Fairchild Air Force Base, Wash., and continued duties as senior controller. In October 1966 he entered the F-4 Field Training Detachment at George Air Force Base, Calif., and in December 1966 went to Southeast Asia. In addition, during this time there was an extended debate resulted in the defeat of a major civil ...

How To Keep Your New Years Resolution

How To Keep Your New Years Resolution It’s been 11 months since you made that new year’s resolution and now it’s almost time again. Once we get past the holiday season of excess cookies and extra spending, it’ll be self-improvement time again. Turns out, we might all benefit from a little help- at least according to a recent analysis in Psychological Bulletin. Having back up- or an audience- might be more important than we thought. We’ve always known that keeping track of our progress is essential to making it. But overwhelming evidence now suggests that doing so in public is the most effective way to help us reach our goals.Dr. Benjamin Harkin analyzed 138 different studies and experiments about motivation and discovered that holding yourself publicly accountable and reaching out for the support of social media can make all the difference in whether you change your diet†¦ or change your diet and succeed at losing weight.Bottom line: it’s important to monitor your progress, but- as Dr. Harkin writes- â€Å" some methods of monitoring are better than others.† So go ahead and tell your friends. This year, try making your resolutions public. Be specific. Share your goals. Use social media to hold you accountable for keeping them. And make your progress public too.

Going for Growth by Investing in People, Products and Plant Essay

Going for Growth by Investing in People, Products and Plant - Essay Example In addition, Hazlewood Sandwiches has invested ?25 million to build a factory site named Manton Wood in order to prepare several quantities of sandwiches. This factory site of the company is regarded as the largest sandwich producing plant in the world (Driver &Temple, 1999). Conclusion Investment appraisal is one of the crucial factors that for obtaining internal and external source of funds. Hazlewood Sandwiches has made two significant capital investments in the past years. The primary objectives behind the company’s substantial capital investments was to avail the prevailing opportunities in the UK sandwich market to gain higher rate of return on the capital invested and thereby to attain superior growth and expansion (Driver &Temple, 1999). References Driver, C. & Temple, P., 1999. Investment, Growth and Employment: Perspectives for Policy. Routledge. Gessinger, G. H., 2009. Materials and Innovative Product Development: Using Common Sense. Butterworth-Heinemann. Lumby, S. , 1988. Investment Appraisal and Financing Decisions the VNR Series in Accounting and Finance. Taylor & Francis. Question 2: Discuss the differences, advantages and disadvantages of the three investment decision techniques mentioned in the case. Introduction Hazlewood Sandwiches undertook three primary methods of investment appraisal namely payback method, Net Present Value (NPV) and Accounting Rate of Return (ARR) method in order to apprise and evaluate the value of the investment made by the company (Gotze, & et. al., 2008). Discussion The payback method critically considers the length of time in order to recover capital invested by the company. It is worth mentioning that the payback method takes into concern cash flow activities. The major advantages of this... This paper approves that investment appraisal is one of the crucial factors that for obtaining internal and external source of funds. Hazlewood Sandwiches has made two significant capital investments in the past years. The primary objectives behind the company’s substantial capital investments was to avail the prevailing opportunities in the UK sandwich market to gain higher rate of return on the capital invested and thereby to attain superior growth and expansion. This paper makes a conclusion that the three primary methods of investment appraisal and evaluation have their own distinctive advantages and disadvantages that facilitate the management of Hazlewood to select one of the any aforementioned methods. Notably, payback method can be considered as the simplest method of all the other two methods. This is owing to the reason that payback as well ARR method does not take into consideration the time value of money. On the contrary, NPV method expresses in dollars instead of percentage that often makes it difficult to appraise the investment. The role of workforce from both the functional perspectives of HRM and accounting is pivotal for any organisation. In this current business environment, workforce of any organisation is required to perform multiple tasks in order to conduct their business operations successfully. Thus, it can be stated that skilled and competent workforce in the business is the greatest asset of a specific organisation.

Benchmarking for Air Export Procedure in Thailand Literature review

Benchmarking for Air Export Procedure in Thailand - Literature review Example Six sigma a. Advantages of Six Sigma b. Disadvantages of six Sigma iv. Benchmarking a. Advantages of benchmarking b. Disadvantages of benchmarking v. conclusion Introduction Air transport is one of the most advanced and heavily relied means of transport not only by the developing but also the developed countries. An efficient air transport will smooth the progress of both economic growth and development of any country. In order to promote the export trade and consequently improve the rate of economic growth, Thailand will have to perform the expected duties in improving the statures of its infrastructures in order to be in the same standard as other developed economies or meet the international standard. Through business process improvement, Thailand will be able to approach its fundamental progression more analytically in order to accomplish more proficient results in air export. This article will look at some of the business process improvement tools, that Thailand can incorporate in it air export in order to realize the best results. Advantages of BPI in terms of supply chain and logistics performance Business process improvement is a methodology that allows business to approach its processes more analytically in order to achieve more dexterous results. According to Frazelle (2002, P.234) the strategy is applicable not only to the manufacturing companies but also to the service offering corporations. Among the positive consequences that can ensue as a result of incorporating the BPI with both supply chain and logistic performance as articulated by Christopher (2005, P.67) is the fact that BPI will to a big deal enhance the system of association by the stakeholders involved in moving products or services from the supplier to customers to be approached more systematically in order to realize more exemplary results. Lambert (2008,P.345) echoes similar sentiments to those of Christopher by claiming that through BPI, some logistic services could be outsourced and in the process leads to increased and better performance. Literature review Business process improvement Tools Business process improvement (BPI) tools are methodologies that permit people to develop into being more proficient in their processes. Through employing BPI tools in its undertaking, a business can recognize its weak points and recover its operational effectiveness. Among the BPI tools that are commonly utilized by many business organization include; 1) .Risk assessment analysis This particular tool entails identifying and at the same time trying to reduce or mitigate risk or chances of a risk taking place in the process (Harrington, 1991p.176). According to the same author, this particular tool is a proactive methodology that endeavors to avoid chances of risk being created from the process. Harrington (1991p.176) further remarks that the tool goes a long way in enabling the process to be perfected by doing things right rather than seeking to the right thing. In his argu ment Harrington observes that risk assessment analysis do not only act as way of warning the management of an impending risk but also try to reduce the chances of such a risk hindering the improvement process of the business process. Advantage of risk assessment analysis I. Through this tool the company or organization is relieved inconveniences that could have accrued as a result of the risk being created I the process. This cost could have been associated with means of eradicating them, which to a great extent may entail