Milux Corporation Berhad is a company which offers a wide variety of gas, kitchen and electrical appliances. Since its inception in 1977, Milux has always sought to provide top quality and innovative products which are in line with the company’s philosophies emphasizing “Quality, Safety and Reliability”. With over 30 years of experience, Milux has built itself into a major household brand and it is also known as the household gas specialist in the South East Asian region.
Issue(s):
During year 2013, Milux Corporation Berhad was faces brand awareness which many of their product still not acknowledged by consumers. During that year also, the company was faces stiff competition from imported lower cost appliances and due to the impact
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Reduce group’s overall operational costs:
• Disposal of underutilized assets :
It is good for the company to disposal their underutilized assets in order to reduce the operational costs.For instances, company can dispose their building offices or factory if less than 20% of the building offices or factory are fully occupied. By taking that action, the company can save the cost of leasing or paying rental of the building.
• Closure of inefficient production operation :
Inefficient operations detract from bottom-line profit and product quality, making it critical for businesses to identify waste and streamline operations. Constant recalibrating of machine and paid overtime-workers can also be label into inefficient production operation which drives operating cost higher. Recalibrating machinery causes downtime in production and the waste of a technician's time, which can be better spent working on other aspects of operations while abnormally high amounts of overtime show that operations in the company are inefficient. So, it is crucial for manager to look up for this situation if
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-Remuneration :
For the cost of remuneration, the entire director will have the remuneration based on the experience and the level of responsibilities undertaken by them.Thereafter to be decided by the Board.
-Corporate Social Responsibility :
This fundamental Corporate Responsibility is advocated by the Board and intensively nurtured and practiced by management with firm commitment to three (3) major stakeholders:
(a)Employees The Board acknowledges that the employees are invaluable assets of the company and play a vital role in achieving the company goals. So, the Board is committed to ensure the management to build a company where employees are happy to work, confident and take pride as part of the Company.
(b)Customer
The Board is committed to ensure the management place the highest regards in relation to the safety and quality of products in order to achieve the highest customer satisfaction.
(c)Environment The Board is committed to ensure the management preserve and enhance the society’s quality of life by improving the company’s activities in order to sustain the environment in all areas of the company’s
INTRODUCTION:- Jurlique International Pty Ltd. is an Australian cosmetics manufacturer specializing in natural botanical-based skincare and cosmetics under the brand name Jurlique. Jurlique is considered ethical and environmentally friendly. Jurlique was founded in 1985 the Australian state of South Australia by Dr Jurgen Klein and his wife Ulrike. The company 's name is based on a phonetic combination of their first names.
Business Assessment An organization must identify its core competencies and strategically align those competencies with its business objectives to achieve success. In fact, C.K. Prahalad and Gary Hamel explained in the Harvard Business Review that the most powerful way for an organization to prevail is for it to “identify, cultivate, and exploit the core competencies that make growth possible” (2000). Lockheed Martin has thoroughly aligned its competencies, business objectives, and key performance indicators, which has undoubtedly contributed to the corporation’s effectiveness.
Introduction A company’s success is measured by how well it is structured and organized in order to adapt to the changes in environment as well as the changes within itself such as the company’s scale, employees, product scope, etc. Having a suitable, well-structured organizational frame will not only increase the chance of being success but also prolong the company’s lifespan compared to an un-structured one. It is important to note that an organization’s structure needs to fit in with the current situation and does not necessarily required remain unchanged over time. Taking Dynacorp as an example, even though its functional structure contributed to the vast growth of the company at the start, its limitation in dealing with the changes within
Chouaib Elhajjaji Written assignment 3:“Corporate Culture at Herschend Family Entertainment” pages 318 – 320 (Questions 1-5) Due Date : Wednesday 25 November , 2015 GRADE_________________ 1-The characteristics of corporate culture elaborated in this chapter were the following. Corporate culture is shared, a provider of guidance, a provider of meaning in the organization, top heavy, a constellation of values, a dynamic constellation of values, organic, inclusive of life values. Choose three of these characteristics and show how the culture Manby promotes at Herschend Family Entertainment relates with each one.
Organizational Behavior Issues in Engstrom Auto Mirror Plant Organizational issues Engstrom Auto Mirror Plant faces multiple quandaries associated with human behavior. Workers feel unappreciated as an integral part of the company, disposable and insignificant. Suspicion about bonus calculations, lack of transparency, job insecurity, and perceptions of inequitableness in the payment scheme have instigated uncertainty and open rebellion against the company. One of the core problems at the organization is low productivity.
INTRODUCING BOSE CORPORATION • Bose corporation is a producer of audio premium speaker used in automobiles, commercial broadcasting and individual consumers. • It headquarters is in Framingham, Massachusetts and plants in Michigan, Canada, Mexico and Ireland • Bose corporation has suppliers both locally and across the shore. Foreign materials account for 20% of materials used and rest internally within the state of Michigan.
Process and tools Target Corporation uses tolls and process for product safety and quality assurance. The company assesses a program for risk –based product safety and quality at every stage in the product life cycle, from development through the life of brand product. Target global team implement a program across 36 countries and 2228 factories producing target product, during the process will require independent third-party testing to validate safety and quality before the guests purchase product. the vendor in the company are expected to employ best practices, including clearly defined and well-documented manufacturing and quality processes including staff training , and record keeping. What does the TC required to do the job?
2. TECHNOLOGY: Automation is led way to decrease in the cost of production. Techniques to optimize production means the suppliers will supply more at a lesser rate. Coca cola recently implemented the Siemens automation to increase the capacity of its bottling plants. This ensures that the capacity of the plants increased manifolds and thus lowering the cost of production.
Lean Manufacturing Pros Lean manufacturing aims to eliminate most if not all forms of waste. Many experts claim that by implementing lean manufacturing techniques and strategies reduce the manufacturing time. As manufacturing lead time is lowered, it is the hope that the operational costs incurred from the use of energy will also be significantly reduced. Lean manufacturing helps companies maintain and increase their profits and earning. It also helps them generate a little more savings as the costs are lower.
Costco has developed number of operational excellence that helped to achieve low cost operations. Costco’s operational excellences are efficient management of inventory and distribution, minimum merchandise handling, and bulk purchasing to reduce the price of the products. Also, Costco has the ability to offer leading national brands at low prices by getting great discounts from the manufacturers. In addition, Costco generates high sales volume and quick inventory turnover helps in reducing inventory-handling costs and increases the liquidity of cash. Quick realization of cash helped them to pay off their vendors and receive additional discounts for early settlement.
SUPERMAX Corporation Berhad should be aware of their cultural differences in the workplace. Since there have a lot of different race in Malaysia and also most of the workers are from the different background so it can easily cause communication barrier happen between all the workers within the workplace. SUPERMAX should treat this issue seriously and handle it properly in order to avoid misunderstanding and tension between employees. It is vitally significant that there is a good relationship between all the employees and also the superior because it can affect the company’s productivity and efficiency. SUPERMAX should have cultural sensitivity in order to create a harmonious atmosphere in the workplace at the same time it can improve the performance of the company.
Motilal oswal securities Ltd The Motilal oswal ltd company was the parent company of the Motilal oswal securities ltd, it was the subsidiary company. Motilal Oswal Company was established by Motilal oswal and Raamdeo agarwal in 1987 and gets the membership from the BSE. It got it final certificate of registration approval in the year 2010 from the securities and exchange board of India regarding the setup and expansion of the business of mutual funds in the country. Motilal oswal securities ltd was incorporated in the year 1994 and its main business is stock broking and wealth management. Motilal Oswal Company has 99.95 % holdings previously which became 100 % holdings In Motilal securities ltd .It was one of the subsidiary company of the
The purpose of Operations management within an organization is to control the production process and business operations as efficient as possible to achieving overall organizational goal (investopedia.com, 2017). Therefore operation management creates policies, processes and procedures and also use various methods and techniques to maximize profits thus achieving organizational goal. Approaches or Techniques of operation management To improve the operational performance, operation management use various techniques to improve the operational performance. Some of these approaches are: Six Sigma Lean production Queuing theory TQM In this section below some of these techniques or theory has been explained: Six Sigma: Six sigma an effective and significant process improvement theory
TASK 1.1 Importance of operation management Operations management (OM) is the business function responsible for managing the process of creation of goods and services. It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company’s goods and services. Because operations management is a management function, it involves managing people, equipment, technology, information, and all the other resources needed in the production of goods and services. Operations management is the central core function of every company. This is true regardless of the size of the company, the industry it is in, whether it is manufacturing or service, or is for-profit or not-for-profit.
A system to check and balances the benefit of all the board of directors and to avoid some of top management from making decisions that only benefit themselves is created and named corporate governance. Corporate governance means the system of rules, practices and processes by which a company is directed and controlled. The set of rules provided as a guidelines for the board of directors to make sure that accountability and fairness in a company’s relationship with its stakeholders such as financiers, customers, management, employees, shareholders and also society in order to achieve company’s goals and targets in a manner that add a value to the company. All of the stakeholders play an important role in corporate governance to ensure that