Ikea Operations Management - 2832 Words

Operations Management:IKEA IKEA’s BUSINESS IDEA (www.ikea.com): â€Å"We shall offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. Introduction At the outset, it may be useful to characterise IKEA in terms of the characteristics of demand (also known as the four Vs, see Slack et al. p 20). First, IKEA is clearly a high volume operation – as indeed most international retailers are – which lends to systematising operations but which implies capital intensive processes and therefore cost considerations will be crucial. Second, IKEA offers a large number of products (up to 14000 depending on the country/store) so there is high variety in the†¦show more content†¦The company offers value for money furnishing with a wide range of choice. Many of its products are designed to be modular / stackable which assists in multi-usage and personalisation of its products. Clearly its product offering is â€Å"no frills†. In line with the Scandinavian idea of minimalism, IKEA seeks to eliminate the unnecessary in its prouducts but it makes a point out of not compromising on function or technical quality. IKEA focuses on the use of raw materials but much of its product range uses board-on-frame construction - layering of sheets of wood over a honeycomb core that gives a strong, lightweight structure with a minimal wood content. The IKEA website sets out a principled approach in terms of product safety, in particular in relation to the use of chemicals and other potentially hazardous substances. Particular attention is placed on children’s products which IKEA holds to a â€Å"particularly high quality and safety requirements†. Products are tested at various accredited laboratories across the world while children’s products are submitted to testing at an IKEA third-party accredited test laboratory in Almhult, Sweden. While IKEA states not to compromise on technical quality, clearly their focus is not on using top of the range materials, e.g. high quality solid wood. This allows the company to present its value proposition of affordable design products. Quality is not a factor on which IKEA aims to be market leader. Customers areShow MoreRelatedOperation Management on Ikea1851 Words   |  8 Pagesobjective of writing this report is to identity and analyzes operation system applied in IKEA, the well-known low cost yet high quality home of furnishing. Function, process and strategy of IKEA operation system will be accessed to identity the core competency that lead to the successfulness of IKEA in the world. Besides, other purpose in complete this report is to analyze the strength and weakness of operation system in IKEA. Operation management is procedure where processes of production or deliver goodsRead MoreOperation Management--Ikea1925 Words   |  8 PagesIKEA History and Company Information IKEA retailing with its Sweedish roots, is based on a franchise system. Inter Ikea system BV is located in Delft, the Netherland being the owner and franchiser of the concept IKEA. (www.ikea.com) The company aims to sell furnitures for 10 to 30 percent less then other stores ( source - stevension ). Every Ikea employee still follows the vision quotes of Ingvar Kampard to create a better everyday life for many people. During 2010 global sales as reportedRead MoreOperation Management Ikea6167 Words   |  25 Pagesfollowing assignment is based on operations managements within IKAE. The aim of this unit is to analyse the operations functions within the organisation by understanding strategic operations management, the operations process and planning and control. â€Å"Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is also the management of resources, the distributionRead MoreIKEA operations management4810 Words   |  20 PagesOperations Management Critical Evaluation of Relevant Issues - IKEA case ï ¿ ½ TABLE OF CONTENTS 2Executive Summary ï ¿ ½ 2Introduction ï ¿ ½ 2Company profile and Situational Analysis ï ¿ ½ 3Growth and profitability ï ¿ ½ 5Culture ï ¿ ½ 5Goals ï ¿ ½ 5Competitors ï ¿ ½ 5SWOT analysis ï ¿ ½ 6PESTLE Analysis ï ¿ ½ 6Political Analysis ï ¿ ½ 6Economic Analysis ï ¿ ½ 6Technology Analysis ï ¿ ½ 7Sociological Analysis ï ¿ ½ 7Legal Analysis ï ¿ ½ 7Environmental Analysis ï ¿ ½ 7Input-Transformation-Output ï ¿ ½ 8Corporate Objectives ï ¿ ½ 9Quality ï ¿ ½ 10SpeedRead MoreOperation Management of Ikea2136 Words   |  9 Pageschain approaches, the firm will increase the benefits of supply chain network. In this report we have focused on supply chain inventory management and technology selection practices and how it is beneficial for the firm. In the firm operations are linked with different strategies. For example the change in supply chain has an effect on inventory management as well as technology selections. At the end we have given some recommendations and conclusion for increasing its efficiency by supply chainRead MoreIkea Operations Management3070 Words   |  13 Pageshttp://fp05-527.web.dircon.net/ikea_company_profile.html Profile: ikea IKEA is the world’s most successful mass-market retailer, selling Scandinavian-style home furnishings and other house goods in 230 stores in 33 countries and hosting 410 million shoppers per year. An acronym for founder Ingvar Kamprad and his boyhood home of Elmtaryd, Agunnaryd, IKEA began operating in Sweden in 1943 and continues its original ethos based upon cost obsession fused with design culture. No design, no matterRead MoreHow Does Ikea Approach Operations Management?6114 Words   |  25 PagesThe main purpose of this paper is to focus on the how IKEA Company approached its operation management. Particularly, it covers the following: how the company establish and manage customer requirements, secondly how does these customers requirements used for the company’s product and services, then, third covers the operational systems and processes it used in its operation, fourth consists of capacity planning, process layout, and product services/scheduling, inventory a nd projects were managedRead MoreOperations Managment14673 Words   |  59 PagesKey operations questions Chapter 1 Operations management âž ¤ What is operations management? âž ¤ Why is operations management important in all types of organization? âž ¤ What is the input–transformation– output process? âž ¤ What is the process hierarchy? âž ¤ How do operations processes have different characteristics? âž ¤ What are the activities of operations management? Chapter 2 Operations performance âž ¤ Why is operations performance important in any organization? âž ¤ How does the operations function incorporateRead MoreThe Operation Strategies And Cost Leadership1399 Words   |  6 PagesSummary This business report discusses and explores the operation strategies and cost leadership of both IKEA and Fruity fro-yo and how it relates to business operations. The success of the business will also be assessed through the identified operations strategies that each of the businesses applies into their operations. This results in increased operations efficiency, which is discussed within this business report. Strategic role of management - Cost leadership Cost leadership: Cost leadershipRead MoreIkea s Market Tool For The Retail Giant Essay970 Words   |  4 PagesIntroduction: IKEA is a multinational group of companies, specialized in designs and sells home furniture (ready to assemble). They also sell accessories, bathroom kitchen items and lately they have offered food market in their retail stores around the world. It was founded by Ingvar Kamprad who born in southern Sweden in 1926 and who was listed as one of the world s richest people in 2013. The company is known by its modern (simplicity) design, cost control, operation details and continues product

The Introduction And Background Of Sime Darby Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 3956 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The Sime Darby in 1910 got the name from two European business partners by name; William Sime and Henry Darby. William Sime, a traveler and adventurer from Scotland, ventured to Malaysia when he was in his late 30s. Sime Darby Berhad is the largest conglomerate in Malaysia and one of the largest in Southeast Asia . Don’t waste time! Our writers will create an original "The Introduction And Background Of Sime Darby Finance Essay" essay for you Create order Within its territory are more than 270 operating companies in 23 countries, while foreign operations in Hong Kong of which account for 25% of revenues, Singapore (14 %), and Australia (11%). The company generates 38 percent of its revenues domestically. Its broadly diversified activities include a wide range of industries, with the core businesses being plantations including oil palm and the companys original business, rubber, tire manufacturing, heavy equipment and motor vehicle distribution, property development, power generation, and engineering services. Natural rubber synthetic rubber was still being developed and had just been introduced to the country from Brazil. Sime and other entrepreneurs at the time recognized that the climate of Malaysias jungle region was similar to that of Brazils. Therefore, rubber could just as easily be grown in that country and sold not only in Malaysia but throughout Southeast Asia and the world. However, Sime Darby encountered opposition to its venture from locals, who were wary of outsiders coming in to operate a plantation in Malacca, in order to overcome this, Sime and Darby forged friendships with several members of the Chinese business community. The company expanded, becoming a manager for owners of other plantations and then moving into the trading end of the industry. Sime set up a branch office in Singapore in 1915 and shortly thereafter established a marketing office in London. Demand for rubber eventually outstripped Sime Darbys production capacity, and by the late 1920s the company found it necessary to clear more jungle. To do so, Sime Darby purchased Sarawak Trading Company in 1929. Sarawak (later renamed Tractors Malaysia) held the franchise for Caterpillar heavy earthmoving equipment. That important purchase signaled Sime Darbys expansion into the heavy equipment business, which would eventually become a major component of its expansive network. In 1936 the companys head office was relocated from Ma lacca to Singapore. Sime Darby made a fortune in the global rubber industry during the 1920s and 1930s. Growth in the industry began to fade, however, as natural rubber was gradually supplanted by synthetic rubber. Sales of natural rubber boomed during World War II as warring nations purchased all available supplies. The war, however, also led to significant advancements in synthetic rubber technology. A good deal of it was used to acquire other companies, thereby expanding Sime Darbys reach into several other industries. Much of Sime Darbys success during that period was attributable to its acquisition of the giant Seafield Estate in 1971 and the establishment of Consolidated Plantations Berhad that same year. Through Consolidated Plantations, which became the companys main plantation subsidiary, Sime Darby became a leading force in the regions thriving agricultural sector. In addition to growing the oil palms and cocoa, the company began processing the crops into finished produ cts for sale throughout the world. As its sales and profits spiraled upward during the early and mid-1970s, Sime Darby became a shiny feather in Britains cap. To the surprise and chagrin of the British stockholders, however, the company was wrested from their control by the Malaysian government late in 1976. The intriguing events leading up to the takeover began in the early 1970s. During that time, Sime Darbys chief executive, Denis Pinder, began investing the companys cash in new subsidiaries throughout the world. The companys stock price soared as Sime Darbys sales spiraled upward. At the same time, some observers charged that Sime Darby was engaged in corrupt business practices (with critics coining the phrase Slime Darby). Allegations of corruption were confirmed in the eyes of some detractors when, in 1973, Darbys outside auditor was found stabbed to death in his bathtub. The Singapore police ruled the death a suicide, but Pinder still ended up in prison on misdemeanor c harges. Pinders successor took up where he left off, investing in numerous ventures, most of which were located in Europe. Unfortunately, many of those investments quickly soured. Some Malaysians felt that Sime Darby was taking profits from its successful domestic operations and investing them unwisely overseas. So, in 1976 the Malaysian government trading office bought up Sime Darby shares on the London stock exchange. It effectively gained control of the company and installed a board made up mostly of Asians. Also in 1976, Asian and British board members were able to agree that Tun Tan Chen Locks son, Tun Tan Siew Sin, would be an acceptable replacement as chairman of Sime Darbys board. In 1978 Sime Darby was reincorporated in Malaysia as Sime Darby Berhad. Its headquarters was moved to Kuala Lumpur the following year. Staggering in the Early 1980s; Rebounding in the Late 1980s and Early 1990s Sime Darby jettisoned some of its poorly performing assets during the late 1970s and early 1980s under Locks leadership. But it also continued investing in new ventures. It purchased the tire-making operations of B.F. Goodrich Philippines in 1981, for example, and secured the franchise rights to sell Apple Computers in southeast Asia in 1982. The addition of B.F. Goodrich Philippines marked the companys entrance into the tire manufacturing sector; also in 1981 came the establishment of Sime Darby International Tire Company, which in 1988 was renamed Sime Darby Pilipinas, Inc. In 1984 the company purchased a large stake in a Malaysian real estate development company, United Estates Berhad, and used it to begin developing plantation lands. This company later was renamed Sime UEP Properties Berhad. In Malaysia, Sime Darby acquired the franchises for BMW, Ford, and Land Rover vehicles. By the early 1980s Sime Darbys push to diversify had given it a place in almost every industry, fr om agricultural and manufacturing to finance and real estate. Although it did diversify into heavy equipment, real estate, and insurance businesses, new management also plowed significant amounts of cash into the companys traditional commodity and plantation operations. Sime Darby became a favorite of investors looking for a safe bet. Indeed, the mammoth enterprise tended to minimize risks after the investment mistakes of the early 1970s and seemed content to operate as a slow-growth multinational behemoth that could withstand any market downturns. Even if something did go wrong, the company had a war chest of nearly a half billion U.S. dollars from which it could draw. Unfortunately, Sime Darbys staid strategy negatively impacted its bottom line. Sales dipped to M $2.78 billion in 1992 before plunging to M$2.17 billion in 1983. Sime Darby lumbered through the mid-1980s with annual sales of less than M$2.5 billion, and net income skidded from about M$100 million in the early 1980 s to a low M$59 million in 1987. To turn things around, Sime Darbys board promoted Tunku Ahmad Yahaya to chief executive. Ahmad was a veteran of the companys executive ranks and was a favorite nephew of Malaysias first prime minister, Tunku Abdul Rahman. Under Ahmads direction, the giant corporation began a slow turnaround. Significantly, Ahmad was instrumental in luring Tun Ismail to Sime Darbys board. Ismail was a highly influential central bank governor and the chairman of Sime Darbys biggest shareholder. Ismail became nonexecutive chairman of the company following the death of Tun Tan Siew Sin in 1988. During the late 1980s and early 1990s Ahmad invested much of Sime Darbys cash hoard into a bevy of new companies and ventures. Sime became a relatively big player in the global reinsurance business, for example, and tried to boost its activities related to heavy equipment and vehicle manufacturing. Most notably, Sime began pouring millions of dollars into property and tourism i n key growth areas of Malaysia in an effort to get in on the development and tourism boom that began in that nation in the late 1980s. The success of that division prompted the company to invest as well in tourism overseas. Through its UEP subsidiary, for instance, Sime Darby bought a full-service resort with condominiums in Florida (Sandestin Resorts) and a hotel in Australia, among other enterprises. As the company dumped its cash into expansion and diversification, sales and profits bolted. Revenues climbed from M$2.53 billion in 1987 to M$4.98 billion in 1990 to M$6.20 billion in 1992. During the same period, net income soared from M$85 million to M$353 million. Sime Darby realized a stunning 65 percent average annual growth in earnings during the late 1980s and early 1990s. Despite its gains, though, critics charged that the company had concentrated too heavily on traditional commodity industries and had failed to move into the 1990s with the rest of Malaysia. In fact, Sime Darby continued to garner about 43 percent of its sales from commodity trading activities in 1993 and only 18 percent from manufacturing. The rest came from heavy equipment distribution, insurance, and its property/tourism holdings. Although building strength in those businesses had added to the companys sales and profits during the late 1980s and early 1990s, the strategy had caused Sime Darby to fall behind more progressive holding companies in the region that were participating in booming high-tech, gaming, brokering, and manufacturing sectors. Many company insiders believed that Sime Darby would have to eliminate its heavy reliance on commodity industries if it wanted to sustain long-term growth. The Crisis The companys stock price began to fall in 1993 and its rapid revenue and profit growth began to subside in comparison with late 1980s levels. In 1993 Ahmad stepped back from control of the company when he named Nik Mohamed Nik Yaacob to serve under him as chief executive. Among Mohameds first moves was to initiate the merger of the companys plantation assets, organized as Consolidated Plantations, and the parent company, The company also bolstered its regional insurance business in 1993 by joining forces with AXA of France for its insurance operations in Malaysia and Singapore. These efforts signaled an end to the companys historical emphasis on commodities and reflected Mohameds desires to increase activity in manufacturing, high-tech, financial services, and other fast-growth businesses and reduce Sime Darbys bureaucracy. The turn around after the crisis The company began increasing investments in businesses such as power generation, oil and gas, and heavy equipment exporting. In heavy equipment, Sime Darby bought the Australian distributor of Caterpillar equipment, Hastings Deering (Australia) Ltd., in 1993. In power generation, a key move came in 1994 when Sime Darby took a 40 percent interest in Port Dickson Power Sdn. Bhd., an independent power producer in Malaysia. That same year, the company acquired U.K.-based Lec Refrigeration plc, which was involved in the manufacturing, marketing, and servicing of refrigeration equipment and related products. At the same time, Mohamed worked to absorb the flurry of acquisitions conducted during the previous several years and streamline the company into some sort of cohesive whole. Despite restructuring activities, Sime Darby managed to boost sales to US$3.15 billion in 1994, about US$186 million of which was netted as income. In 1995 Sime Darby stepped up its acquisition drive through the purchase of a controlling 60.4 percent interest in United Malayan Banking Corporation from Datuk Keramat Holdings Berhad. The US$520 million purchase deepened the companys involvement in the countrys fast-growing financial services sector. United Malayan, which was the fourth largest bank in Malaysia in terms of assets, soon was reorganized as Sime Bank Berhad, with the companys brokerage arm becoming a subsidiary of Sime Bank under the name Sime Securities Sdn. Bhd. For the fiscal year ending in June 1997 Sime Darby posted record net income of M$835.8 million (US$322.9 million) on record revenues of M$13.24 billion (US$4.35 billion). Sime Bank and SimeSecurities played a key role in these stellar results (accounting for 30 percent of pretax earnings), but the eruption of the Asian financial crisis in July 1997 quickly proved that the acquisition of United Malayan had been ill-timed, if not also ill-advised. The severity of the crisis in Malaysia, which included a steep decli ne in the Malaysian stock market and a sharp depreciation of the ringgit (the nations currency), led Sime Bank to post the largest loss in Malaysian banking historyM$1.6 billion (US$431 million) for the six months to December 1997. In turn, Sime Darby posted its first loss in decades for the same six-month period, a loss of M$676.2 million ($172.7 million). With other Sime Darby units being hit hard by the crisis as well, the company posted the first full-year loss in its close to 90-year history in the 1998 fiscal year, a net loss of M$540.9 million (US$131 million). Subsequently ,it beat a hasty retreat from its aggressive expansion, determining that the prudent course would be a return to the companys core areas: plantations, property development, tire manufacturing, heavy equipment and motor vehicle distribution, and power generation. In June 1999 Sime Darby sold Sime Bank and its SimeSecurities subsidiary to Rashid Hussain, who merged it with RHB Bank to form the second larg est commercial bank in Malaysia. During the 1999 fiscal year, the company also sold Sandestin Resorts for US$131 million. In 1999,it returned to the black with net earnings of M$821.8 million (US$216.3 million) on revenues of M$9.91 billion (US$2.61 billion). A further pull-back from the financial services sector came in March 2000 when Sime Darby sold its interest in Sime AXA, its insurance joint venture with AXA of France. Meantime, an area of growing interest was emerging at the turn of the millennium as Sime Darby increased its interest in Port Dickson Power to 60 percent, giving it majority control and turning Port Dickson into a company subsidiary. Flush with cash from the sale of its financial services units, Sime Darby appeared poised to make additional forays into the power generation sector. Given the near disaster of its aggressive moves into financial services, however, the company was likely to proceed with much caution in all of its future expansionary endeavors in a return to its traditional style of conservative management. Business activities: Plantation: Plantation is Sime Darby largest revenue generator with about 70% of the conglomerate profits come from this segment. The company operates palm oil and rubber plantations in Malaysia and Indonesian islands of Sumatera, Kalimantan and Sulawesi. With a land bank of over 633,000 hectares, including 300,000 hectares in Indonesia, it is one of the largest plantation company in the world. Property: The company is involved in the property development business in eight countries, namely Malaysia, Singapore, Indonesia, Philippines, Vietnam, PeopleHYPERLINK https://en.wikipedia.org/wiki/Peoples_Republic_of_ChinaHYPERLINK https://en.wikipedia.org/wiki/Peoples_Republic_of_Chinas Republic of China, Australia and United Kingdom. Industrial and Monitoring :The company is involved in the purchasing, leasing and selling of industrial equipment such as Caterpillar Inc. heavy duty trucks and tractors.. it has partnership with Ford, it sells Fords cars and trucks together with the La nd Rover brand. It is also a major BMW dealer in Singapore, Australia and Thailand. In Southern China, the company sells BMW and Rolls-Royce. In addition, Sime Darby co-owns Inokom Corp Bhd, a joint-venture with Hyundai Motor Company which assembles and sells Hyundai vehicles in Malaysia. Energy Utilities: The company is an Oil and Gas services company which provides equipment for exploring oil and gas assets in the South East Asia region. The company is also an independent power provider in Malaysia and Thailand. The company also provides engineering services in the system integration and sales sectors, security and oil gas sectors. Healthcare: The company owns hospital named Sime Darby Medical Centre Subang Jaya Sdn. Bhd ,SDMC Formerly known as Subang Jaya Medical Centre, and college formerly known as SJMC Academy of Nursing and Health Sciences which was established in 1995 and now is known as Sime Darby Nursing and Health Sciences College. Other businesses: The compan y has a port utility company named Weifang Sime Darby Port Co Ltd. Other businesses that the company is involved in include healthcare, aerospace (divested from Asian Composites Manufacturing (ACM) in 2009), bedding, consumer and industrial products, logistics and packing.The company also owns the 30% of the Malaysian arm of Tesco stores. Sustainable Practices: Sime Darby plantations implemented Zero Burning Planting Techniques Techniques (ZBPT), a practical and environmentally sound technique of replanting, in 1989. The Board of director and audit committee profile: Company Profile Bhg Dato Mohd Bakke, was chosen on13th May 2010 as the new president and group chief executive (PGCE) and formerly group president/CEO of Felda Global ventures Holdings SDN Bhd, he has necessary experience in corporate restructuring exercises as well as in management expertise in the plantation. Dato Azhar Abdul Hamid, Chairman,board of Directors and Managing Director of Sime Darby Plantation Sdn Bhd. He is head of the Sime Darby Groups Plantation and Agri-business Division Internal and External Audit Duties and comments To say that the group had processes in place its just that they had not been implemented properly certainly laughable because it is all tooÂÂ  familiar. If one was to seriously respond to this excuse, it would be that is why you have internal and external auditors. And when the internal auditors raised the red flag in August 2008, it was conveniently swept under the carpet! If the excuse was that, the non-executive independent directors were obliged to give the benefit of the doubt to management, the external auditors, Price Waterhouse Coopers (PWC) certainly had no such obligation or professional reason to do so! This was their red flag to delve into the issue of cost over-runs including its recovery of such costs. This is no more an ordinary run of the mill statutory audit. PWC had been put on enquiry and were obliged to look into the concern meticulously. The question to be answered is that, what did PWC do? They signed off the accounts of Sime Darby for 2008 and 2009 with a clean audit report! Not even an emphasis of matter especially on the possible cost over-runs and its recoverability! The fact that official media had highlighted these matters, besides the media report prior to the finalization of the 2008 and 2009 accounts speak volumes about the role (or lack of it) of PWC The official media currently has been quite polite about this latest incident .yes, they have been polite relatively speaking, but if you read in between the lines, the insinuation is the total collapse in the check and balance roles of the other parties involved with Sime Darby notably the auditors and members of the Audit Committee headed by the ex-chairman of PWC. Andrew Sheng, a proponent of strong corporate governance is unfortunately embroiled in this mess as director and he cannot easily extricate himself out of this especially when he was appointed in 2007.He has to regain credibility by insisting massive and fundamental changes to the way things are done in t he Malaysian corporate world in general and Sime Darby in particular. The audit committee In April 2008, for example, there were news reports that Sime Darby Engineering Sdn Bhd had incurred cost overruns of between RM120mil and RM150mil in its offshore engineering, procurement, construction, installation and commissioning project for Maersk Oil Qatar (MOQ). In February 2009, a report also alleged that there had been costs overruns in the same project, but this time, the figure mentioned was far bigger. At a media briefing on Feb 4, Zubir dismissed this: Theres no such thing as the RM800mil losses. The Minority Watchdog Group (MSWG) wrote to Sime Darby chairman Tun Musa Hitam in March 2009 on issues in the energy and utilities division. At the companys AGM last November, the MSWG also raised questions about the divisions shrinking bottom-line. Moreover, it has been reported that Sime Darbys internal auditor has come up with reports highlighting the divisions losses and that longtime independent auditors PricewaterhouseCoopers (PwC) had delayed signing off Sime Engine erings 2008 accounts. Boardroom strength: The former executive director of a Big Four firm says When PwC does not sign off the accounts of a significant subsidiary of listed company and yet signs off the parent companys accounts. It is understood that the auditors could issue an unqualified audit opinion on the Sime Darby accounts despite not doing so for Sime Engineering because the issue in dispute at the Sime Engineering level was not material on a group basis. The current public discussions about accountability and the suggestions that more heads must roll at Sime Darby are making the headlines, but the core underlying issue is quite different: How could this mess have happened in spite of the conglomerates governance structure and controls? Going by the information in the annual report 2009, Sime Darbys system of checks and balances at the boardroom and top management level is sturdy and robust, befitting its status as a sprawling multinational corporation. Beside Ahma d Zubir, Sime Darby has 12 directors. Half of these are independent directors and all 12 are non-executive directors. Together, they form a team with deep and varied experience and knowledge. Among the independent board members are stalwarts such as Musa, Raja Tan Sri Arshad Raja Tun Uda, Datuk Seri Panglima Andrew Sheng and Tan Sri Dr Ahmad Tajuddin Ali.You cant accuse the board of being sleepy. There are some heavyweights there, says the research head of a foreign investment house. Yet, the directors have missed the extent of Sime Darbys project woes until, reportedly, PwC went to Musa last year to express its concerns over the energy and utilities division. In the financial year 2009, there were 12 board meetings. Not many listed companies in Malaysia hold these meetings this frequently. In addition, there are seven board committees and they each meet several times a year. Above all, Sime Darby has supervisory committees that were set up to assist the board in the oversight of the respective divisions (of the company). The board has identified certain non-executive directors to sit on these committees. Definitely, this is not a case of the directors having limited exposure to the companys management and affairs. So how is it that the many warning signs had not prompted the board to initiate a probe until October last year, when it established a board work group to review the energy and utilities divisions operations? The boards defenders say the management convinced the directors that in spite of the auditors concerns and the rumors, the situation was under control. The argument here is that the board has to constantly maintain a balance between objectivity and the ability to work well with the management. In other words, in the absence of strong evidence to the contrary, the board saw no reason to doubt the information provided by the management. That is why, it took a bit of time for the Sime Darby board to get into full swing once it became clear t hat it must investigate the corporate governance and performance of the division. The directors have to shift from a position of trust to skepticism to disbelief and finally, to outrage, says a corporate insider Rajawas executive chairman and senior partner for 18 years, retired from PwC in June 30, 2005. Raja Arshad was appointed to the board of the pre-merger Sime Darby on July 1, 2007 exactly two years later, thus fulfilling the criterion for boardroom independence at Sime Darby. Raja Arshad was not necessarily the best choice to head Sime Darbys audit committee, PwC insisted that his position in the audit committee does not change how the firm conducts its audit of Sime Darby. Therefore, what is PwCs part in the Sime Darby fiasco? The four key findings disclosed by Sime Darby on May 13 was that , only one decision to reverse revenue of RM200mil for the Qatar Petroleum project relates to a matter taken up in accounts already audited. The other three relate to items that have o nly surfaced in the current financial year. This means PwC could not have known about these figures until it begins auditing Sime Darbys 2010 accounts. Nevertheless, some in the accounting fraternity say this may be a test case for the newly constituted Audit Oversight Board.

The 5 Canons of Classical Rhetoric

The five canons of classical rhetoric are perhaps summed up best in this quote from the late Gerald M. Phillips, professor of speech from Pennsylvania State University: The classical Canons of Rhetoric specify the components of the communication act: inventing and arranging ideas, choosing and delivering clusters of words, and maintaining in memory a storehouse of ideas and repertoire of behaviors. . .  This breakdown is not as facile as it looks. The Canons have stood the test of time. They represent a legitimate taxonomy of processes. Instructors [in our own time] can situate their pedagogical strategies in each of the Canons. The words of the Roman philosopher Cicero and the unknown author of Rhetorica ad Herennium break down the canons of rhetoric into five overlapping divisions of the rhetorical process: 1. Invention  (Latin, inventio; Greek, heuresis) Invention is the art of finding the appropriate arguments in any rhetorical situation. In his early treatise De Inventione (c. 84 BCE), Cicero defined invention as the discovery of valid or seemingly valid arguments to render ones cause probable. In contemporary rhetoric, invention generally refers to a wide variety of research methods and discovery strategies. But to be effective, as Aristotle demonstrated 2,500 years ago, invention must also take into consideration the needs, interests, and background of the audience. 2. Arrangement  (Latin, dispositio; Greek, taxis) Arrangement refers to the parts of a speech or, more broadly, the structure of a text. In classical rhetoric, students were taught the distinctive parts of an oration. Although scholars didnt always agree on the number of parts, Cicero and the Roman rhetorician Quintilian identified these six: Exordium (or introduction)NarrativePartition (or division)ConfirmationRefutationPeroration (or conclusion) In current-traditional rhetoric, arrangement has often been reduced to the three-part structure (introduction, body, conclusion) embodied by the five-paragraph theme. 3. Style  (Latin, elocutio; Greek, lexis) Style is the way in which something is spoken, written, or performed. Narrowly interpreted, style refers to word choice, sentence structures, and figures of speech. More broadly, style is considered a manifestation of the person speaking or writing. Quintilian identified three levels of style, each suited to one of the three primary functions of rhetoric: Plain style for instructing an audience.Middle style for moving an audience.Grand style for pleasing an audience. 4. Memory  (Latin, memoria; Greek, mneme) This canon includes all the methods and devices (including figures of speech) that can be used to aid and improve the memory. Roman rhetoricians made a distinction between natural memory (an innate ability) and artificial memory (particular techniques that enhanced natural abilities). Though often disregarded by composition specialists today, memory was a crucial aspect of classical systems of rhetoric, as English historian Frances A. Yates points out, Memory is not a section of [Platos] treatise, as one part of the art of rhetoric; memory in the platonic sense is the groundwork of the whole. 5. Delivery  (Latin, pronuntiato and actio; Greek, hypocrisis) Delivery refers to the management of voice and gestures in oral discourse. Delivery, Cicero said in De Oratore, has the sole and supreme power in oratory; without it, a speaker of the highest mental capacity can be held in no esteem; while one of moderate abilities, with this qualification, may surpass even those of the highest talent. In written discourse today, delivery means only one thing: the format and conventions of the final written product as it reaches the hands of the reader, says the late English professor and scholar, Robert J. Connors, from the University of New Hampshire. Keep in mind that the five traditional canons are interrelated activities, not rigid formulas, rules, or categories. Though originally intended as aids to the composition and delivery of formal speeches, the canons are adaptable to many communicative situations, both in speech and in writing.   Sources Connors, Robert J. Actio: A Rehetoric of Written Delivery. Rhetorical Memory and Delivery: Classical Concepts for Contemporary Composition and Communication, edited by John Frederick Renolds, Lawrence Erlbaum Associates, 1993. Phillips, Gerald M. Communication Incompetencies: A Theory of Training Oral Performance Behavior. Southern Illinois University Press, 1991. ï » ¿Yates, Frances A. The Art of Memory. University of Chicago Press, 1966.

Brazil And Caribbean Culture Essay - 1694 Words

Within Brazil and the Caribbean lies a racial mixture of cultures. Since the 1930s the people have, overall, enthusiastically adopted the notion that racial and cultural mixture defines this regions national identity (Samba 1). This region consists of a very historic background which has shaped the beliefs and customs of celebration, music and dance. Sugar cane was brought to the new world by Christopher Columbus on his second voyage in 1493 (Umbilical 99). The introduction of this new crop would bring about dramatic change the Caribbean. During the 1600s the Caribbean sugar industry thrived. The native people of Africas†¦show more content†¦This music helped make plantation work a little less unbearable. A little farther south of the Virgin Islands in Trinidad and Barbados, Calypso was used to express personal feeling about slavery. There are several versions of the origin of calypso which emerged as an identifiable genre towards the end of the nineteenth century. Calypso represents a mixture of several folk songs in African tradition (history of Carib music 1). There are a few theories to where the word calypso originated. The Carib word caieto meaning a joyous song and the French patois carrousseaux from the archaic French word carouse meaning a drinking party or festivity (Trinidad Calypso 8). The calypso style of music began around the time of the French settlement in Trinidad during the late 18th century. At this time this type of music was not yet pronounce calypso. In a good calypso song the lyrics would grasp three main dimensions. The first is extempore. If the individual could produce lyrics at the spur of the moment it was greatly admired by the listeners. Second, added c omments of social and political issues were slid into a verse. Thirdly the calypso singers would trade insults. This would later lead to what would become known as calypso wars. Today the lyrics of calypso contain so much information on politicalShow MoreRelatedThe Early Modern Atlantic Economy Edited by J. McCusker and K. Morgan1368 Words   |  6 PagesOn one hand a group of historian argues the notion that Brazil and the Caribbean experienced a sugar revolution while on the other hand another group argues that there was no such thing as a sugar revolution, what Brazil and Caribbean experienced was simply a sugar boom. In order to assess which group of historians is more accurate, one must first understand the concept of a sugar revolution and what factors must be present in order for a sugar revolution to occur. The concept of a sugar revolutionRead MoreAmerican Institutional And Intellectual Life Essay1455 Words   |  6 Pagesinstitution of slavery destroyed African culture in America, and whether it reduced slaves to a child-like state of dependency and incompetence. 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Africa was depopulated, and Africans in America lost their cultures and identity while Europeans made money from the resources being exported in the Americas at the expense of Africans’ lives and culture. Intro: Atlantic Slave Trade In the 1500s to 1900s, Africans were taken from Africa and brought across the Atlantic Ocean where they were traded and sold for labor in the New World, which included the Caribbean Islands, and North and South America. Around the 1600s, the Europeans capturedRead MoreThe Decline Of The European Empires945 Words   |  4 Pagesmixed races. 4) How did the plantation societies of Brazil and the Caribbean differ from those of southern colonies in British North America? The plantation societies of Brazil and the Caribbean differed from the southern colonies in British North America. In North America, there was little to no mixed race, did not include mixed race in their civilization and they were less cruel to the slaves than the sugar colonies were. Brazil and the Caribbean were more likely to release slaves while comparedRead MoreBrazil s Cost Of Doing Business995 Words   |  4 PagesBrazil To determine the cost of doing business in Brazil, its future economic status, and business practices, first we must briefly examine its geographical area, culture, and government. Geographical Area Brazil is located in the eastern hemisphere of South America. Its coastal shores occupy both the North and South Atlantic Oceans. It has a land mass of 3.2 million sq. miles (worldatlas.com), one-third of which is the Amazon Rainforest (GlobalEdge). Due to an industrial and agricultural growthRead MoreThe Atlantic And East Asian Colonization1074 Words   |  5 PagesEast Asian colonization was dissimilar. For example, the Atlantic colonies were sugar based and East Asian colonies relied on the textile industry. On the Atlantic side, some of the major sugar plantations were Brazil which was ran by Portugal and Haiti which was ran by the French. In Brazil, they were also known for their luxurious wood. Unfortunately, problems with mercantilism arise and Latin America loses power due to illegal trade of the English buccaneers. In which they are trading at the cost

Short Note on Niccolo Machiavelli’s The Prince Free Essays

The first question that will run through your mind is, what makes a good ruler? That every prince ought to desire to be considered clement and not crue. They say honest politics will never get the vote. You might wonder, why? So as long as the ruler keeps his subjects united and loyal, ought not to mind the reproach of cruelty. We will write a custom essay sample on Short Note on Niccolo Machiavelli’s The Prince or any similar topic only for you Order Now â€Å"Any man who tries to be good all the time is bound to come to ruin†¦ and learn how not to be good†¦Ã¢â‚¬  You can’t be a good guy, but don’t make the mistake of not appearing like one. To become a ruler talk about how you’ll change the economy and how the they’ll have more money. Most organizations are engaged in the nastiest lawsuits and acquisitions. People don’t understand the great difference between how human beings actually live and how they ought to live. We came through a lot of agreements and disagreements with these statements that were mentioned in the article. Coming to the idea of cruelty used good or badly, the author demonstrates the way cruelty is well used may seem as dignity. Cruelty can become a form of sympathy when is used to restore order and unify a state. Saving the communists from disorganization and uncontrolled disorder. Using targeted cruelty and punishments is an act of compassion. A prince must use mastery to walk the line between fear and hatred. They have to secure their state through the threat of force. Machiavelli guides rulers to rely on facility, which they control instead of fortune and reality. We came to a conclusion that it’s better to be feared than loved because sometimes people take advantage of that. Machiavelli inspects humans as ungrateful and unfaithful. When you make them fear you, they know you have the capability and power to be a ruler. It is much safer to be feared than loved. He wanted to demonstrate how to acquire and maintain political power. What we don’t agree on with the author, is that he states how politics should just lie and say what people want to hear without actually doing anything about the problem. Which is what has happened now a days with our presidents. They tell the people how they’ll change low incomes or try to persuade the audience with what they are expected to hear. Yet Machiavelli has some good point of views even when some aren’t. How to cite Short Note on Niccolo Machiavelli’s The Prince, Papers

Dracula Paper free essay sample

The conflict of science versus superstition is drawn out throughout the whole novel. We know that some of our main characters, Jon, Van Helsing and Dracula all depict one of the two, or both. Stoker does not make a point that religion is more important than science, and vice versa. I personally believe that he tries to portray that both science and religion are important to the novel. Through the series of events that partake within the duration of the novel there are many things that one can explain but not the other. But, both science and religion cannot explain everything just themselves. Three of the main characters all portray science, superstition or a little bit of both, science and superstition, representing that both cannot exist without the other. Jon Harker, our main character represents one hundred percent science, we are really shown this in the first four chapters in the novel. We will write a custom essay sample on Dracula Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Jon who knows nothing but science tries to take what he knows about science and tries to apply it to Dracula who represents the opposite of Jon, one hundred percent superstition or religion. There are so many things that Harker tries while he stays at Dracula’s castle. Initially he is uneasy about staying with in the castle, but Draculas warm welcome calms Harker momentarily. As he settles in he observes Dracula’s physical traits, pointed ears, extremely pale skin and exceptionally sharp teeth, Harker becomes uneasy again. He starts to pick up on small things such as why there are no mirrors in the castle, and why he doesn’t show up during the day. He attempts to explain this with science and he struggles to do so. As Jonathan is trying to find a way to escape the castle he has a strange meeting with three vampire girls, which is unusual for him. I was afraid to raise my eyelids, but looked out and saw perfectly under the lashes. The fair girl went on her knees, and bent over me, fairly gloating. There was a deliberate voluptuousness which was both thrilling and repulsive, and as she arched her neck she actually licked her lips like an animal, till I could see in the moonlight the moisture shining on the scarlet lips and on the red tongue as it lapped the white sharp teeth. Lower and lower went her head as the lips went below the range of my mouth and chin and seemed to fasten on my throat. I could feel the soft,  shivering touch of the lips on the supersensitive skin of my throat, and the hard dents of two sharp teeth, just touching and pausing there. I closed my eyes in a languorous ecstacy and waited waited with beating heart. (Stoker, 57) Jon Harker is not sure what is happening and who these girls are and he doesn’t learn to understand this until Dracula shows up and tells them to back of because Jon is his. I think this is when it really settles in for Jon that science cannot explain why Dracula crawls up the sides of the walls of the castle or has razor sharp teeth. You are clever man, friend John; you reason well, and your wit is bold; but you are too prejudiced. You do not let your eyes see nor your ears hear, and that which is outside your daily life is not of account to you. Ah, it is the fault of our science that it wants to explain all; and if it explain not, then it says there is nothing to explain. Van Helsing laments the narrow and prejudiced vision of Seward, the rational man of science who understands nothing about the ultimate cause of Lucys death and the Un-dead Lucys preying upon children. If Seward has no data, he is unable to draw any conclusion and therefore unable to act. He does not believe in vampires because there is no proof, so he is vulnerable to the Counts evil. Van Helsing, in contrast, knows this territory because he has kept an open mind and has drawn upon a broad base of knowledge, from modern science to ancient lore. A brave mans blood is the best thing on this earth when a woman is in trouble.' (Chapter 12) Van Helsing asks Quincey Morris to donate his blood to save Lucys life. Throughout the novel, there is a morally upstanding quality to the blood that the men donate to Lucy. In Chapter 10, Van Helsing comments that Holmwood is so young and strong and of blood so pure that we need not defibrinate it. The pure and wholesome blood of these fine young men stands in contrast to the tainted, death-dealing blood of the Count, who infects his victims with the curse of vampirism.