Literature Review Essay Example | Topics and Well Written Essays - 1250 words - 3

Literature Review - Essay Example No time lag will be there in between the data transfer. PDM tools collaborate with other parts of the system to increase the efficiency and speed of the system. Improved productivity of the engineers is the second advantage of PDM system. It is widely accepted that engineers are wasting a substantial period of time for searching , retrieving, filing, handling and storing of document and information. PDM system can help the engineers in avoiding all the above time wasting areas of their profession. The third advantage is the improved control. PDM system ensures the availability of up to date data to all to ensure better control (Crow, n. d). Grundey (2009) has mentioned that Product Data Management (PDM) software helps to provide revision control and file access permission capability for CAD data. Moreover, PDM system improves housekeeping. At the same time PDM system has the disadvantages of more browsing needed to locate files and lot of searching to be done for related draft files (Grundey 2009). Product life management, sometimes "product life cycle management", represents management of all data relating to the design, production, support and ultimate disposal of manufactured goods. Every product has a life period like the living things. It starts from the design stage and ends at the disposal stage. Even though PLM is widely used in the engineering CAD field, it is used in other areas like word processors; spreadsheet and graphics programs; requirements analysis and market assessment tools; field trouble reports; and even emails or other correspondence (Product Lifecycle Management (PLM), 2009). PLM provides the users a vision; a blue print; a road map; a backbone,( a platform where other components could be based on), a bird-eye view,( an overall picture on what you are doing or going to do with your products) (The Secret of Lean PLM implementation, n. d, p. 3). PLM help engineers or others to

The case Sons of Gwalia Ltd v Margaretic ( business law ) Research Paper

The case Sons of Gwalia Ltd v Margaretic ( business law ) - Research Paper Example First corporate legislation was created in 1862, since then corporate legislation has undergone and is undergoing through some dramatic, and other changes which are less dramatic but do bring effect over the corporate practices. Thus, social, legal and economic climate has since the first private corporation legislation, has been changed. Now, it has become different and Australian Securities and Investments Commission has recognized the requirement and need for the consumers’ confidence in the market, so that they could more informed and confident about the investment decision they would be undertaking. This change in ASIC commission behavior did not occurred by itself, the main cause and event behind this changing of character and care for the investors became when Australian Government started the active campaign for improving business opportunities and business investment in the country. Luka Margaretic, shareholder of â€Å"Sons of Gwalia Ltd† which is publicly lis ted company on Australian Stock Exchange, filed a legal process against the company demanding claims for damages caused by loss of the stock values of â€Å"Sons of Gwalia Ltd† gold mining company. ... This false claim of company gold reserves was making it problematic and challenging for the company to supply gold to their customers with whom they hard contractual agreement of the then fixed gold prices. Due to rise in gold prices and insufficient availability of gold stock in company reserves caused share price to drop substantially, thus providing reason to Luka Margaretic to file a lawsuit claiming damages. In order for capital markets to operate efficiently, market investors are required to possess accurate information and detail about the companies which are offering trade on the market. Therefore, Australian corporate laws have generated a surplus of corporate disclosure requirements which ensure that price-sensitive information, information which can have effect over the prices of the stock values of the company. These obligations include. Continuous Disclosure Transaction-specific disclosure obligation These rules are formulated by disclosure laws which are enforceable by a range of public and private preparations. However, this creation of private preparations to avoid the problems often can result the tension between prioritizing the parties involved. Though, the law has set off systems which favor, unsecured creditors over the members of the company, thus undermining the investment of the shareholder. Numerous decisions have been examined and the scope of the rules which are subordinated claims to become insolvency. The pinnacle of the development has been the sculptures misrepresentation which induced the purchase of the shares which had occurred in the secondary market; these were then forbidden and not allowed over the secondary market. Protections in Corporate Law for Creditors Corporate law provides numerous

Cause of the melamine

Cause of the melamine What is the cause of the melamine incident which triggered many countries? The melamine incident was initially centred on Sanlu, a Hebei-based dairy company, whose melamine-contaminated baby milk powder had sickened a growing number of infants. Nationwide inspections later found that milk powder from 21 dairy companies including Mengniu and Yili are also contaminated. Two giant processing companies — Mengniu Dairy Group Co. and Yili Industrial Group Co. — control nearly 60 percent of the total market for milk, yogurt and other dairy products, according to Beijing Orient Agribusiness Consultant Co. But in the past three years, prices for feed, fuel and other costs rose — feed by as much as 30 percent. Further pressures came last year when Beijing enacted price controls to tame double-digit inflation for food. Milk collectors found themselves squeezed between the farmers asking for more money and the processors who demanded that prices be held down, said Chen Lianfang of Orient Agribusiness. That squeeze gave suppliers incentives to tamper with the raw milk, watering it down and then adding ingredients, said Chen. Melamine, a relatively cheap binding agent used in plastics, fertilizer, and as a flame retardant, is rich in nitrogen, fooling widely used tests that check for protein. When mixed with formaldehyde, it dissolves in water. Authorities say middlemen apparently added melamine to milk they collected from farmers to sell to large dairy companies. The suppliers are accused of watering down the milk and then adding the nitrogen-rich chemical to make the milk seem higher in protein when tested. Protein tests often simply measure nitrogen levels. Melamine can cause kidney stones and lead to kidney failure in larger doses. Babies whom consumed the contaminated milk began suffering from kidney problems caused by the melamine and doctors were blaming the powdered milk. The scandal first came to light in milk powder that killed four infants and sickened more than six thousand others across China spread to liquid milk. Many countries like Brunei, Cambodia, Indonesia, Taiwan, and Malaysia have already banned all milk products from China while a number of countries have announced recalls of a variety of goods suspected of being spiked. Singapore banned the import and sale of all Chinese milk products after some were removed from stores in Hong Kong. In late October 2008, CHINAS Health Ministry said six babies may have died after consuming tainted milk powder, up from a previous official toll of three. It also announced a sixfold increase in its tally of infants sickened in the scandal to nearly 300,000. http://www.msnbc.msn.com/id/26859570/page/2/ http://www.breitbart.com/article.php?id=D94064AO0show_article=1catnum=2 http://www.straitstimes.com/Breaking%2BNews/World/Story/STIStory_281658.html http://www.newsnet.co.zw/index.php?nID=13877 Why China and Malaysia milk products are the only ones being banned? They found out that the diary products contained melamine too. SINGAPORE: The Agri-Food and Veterinary Authority (AVA) has instructed importers and retailers to withdraw all Malaysia-made Julies brand biscuits from the shelves. This comes after AVA detected the industrial chemical melamine in 12 Julies biscuit products imported from Malaysia. AVA says there are 25 types of Julies biscuits sold in Singapore, but as a precaution, it decides to recall all Julies biscuits. AVA advises consumers who have bought affected biscuits not to eat them. AVAs tests also included various types of biscuits under the major brands of Khong Guan and Meiji as well as other traditional biscuits that are manufactured in Singapore. Melamine has not been detected in these products. AVA says Lotte Koalas March Cocoa Chocolate Biscuit and Hello Kitty Strawberry Cream Filled Biscuit have been recalled since 19 September. The tainted products will be destroyed under AVAs supervision. As of 24 October, 3,200 types of milk and milk products, chocolates, biscuits, non-dairy creamers and other products imported from more than 40 countries have been taken for laboratory analysis to check for melamine. Along with five other biscuit products from Malaysia, the 12 affected Julies products form the first batch of non-China goods found tainted with melamine in Singapore since the worldwide food scandal started last month. The AVA said that the contamination in the Malaysian biscuits seems to have stemmed from tainted ammonium bicarbonate, which is used as a raising agent in confectionery. Since the AVAs latest announcement, manufacturers and importers have been scrambling to check whether their products contain leavening agents from China. http://www.channelnewsasia.com/stories/singaporelocalnews/view/385183/1/.html Singapores AVA suspended the import of all milk and milk products from China and instructed retailers and importers to recall such products. Three products were found to contain melamine â€Å"White Rabbit Creamy Candy†, â€Å"Yili Brand Choice Dairy Fruit Bar Yogurt† and â€Å"Dutch Lady† strawberry-flavoured milk. Agri-Food and Veterinary Authority (AVA) has suspended the import and sale of all milk and milk products from China with immediate effect as samples of Singapore stocks of two made-in-China milk products have been found to be tainted with the potentially deadly chemical melamine. http://livinginsingaporetoday.com/686/ava-has-suspended-the-import-and-sale-of-all-milk-and-milk-products-from-china-with-immediate-effect/ SINGAPORE Singapore on Friday suspended the import and sale of all milk and milk products from China after local tests found samples containing the potentially deadly industrial chemical melamine. The Agri-Food and Veterinary Authority of Singapore (AVA) said in a statement that its tests found melamine in two samples of Yili brand iced yoghurt. They also found the chemical in the Dutch Lady brand of strawberry flavoured milk manufactured in China, AVA said. Those products have been removed from market shelves and will be destroyed, the agency said. In the aftermath of Chinas milk contamination, the Agri—Food and Veterinary Authority (AVA), Singapores processed and primary food inspectorate, recently discovered that White Rabbit Creamy Candy, again manufactured in China, also contains melamine. White Rabbit is the third dairy confectionary from China which showed melamine content in AVAs laboratory tests. Yili Brand, a fruit bar yogurt and Dutch Lady, a strawberry-flavored milk have been earlier taken out of stores after they have been found to contain melamine. http://www.abs-cbnnews.com/world/09/19/08/singapore-suspends-china-milk-imports-deadly-chemical-found-yoghurt During this melamine incident, what actions did AVA (Agri-Food and Veterinary Authority) took, to prevent and minimize cases from happening in Singapore? As a precautionary measure, AVA is also suspending the import and sale of all milk and milk products from China with immediate effect, it said. Retailers and importers have been instructed to recall these products and these products will be withheld from sale until they have cleared the necessary tests. AVA said local food manufacturers have also been instructed to stop using milk and milk products from China as ingredients until the agency completes its probe. Consumers are also advised not to consume any milk and milk products from China pending AVAs investigations, it said. The AVA confirmed it would allow the import of Julies biscuits once it is sure they are safe. Singapores AVA said it advised consumers on Wednesday about a recall of the Yili yoghurt product after tests in Hong Kong found it contaminated with the chemical, which can be lethal if consumed in large amounts. http://www.abs-cbnnews.com/world/09/19/08/singapore-suspends-china-milk-imports-deadly-chemical-found-yoghurt Because melamine is an industry chemical not approved for use in food manufacture. The amount of melamine found in the ten products above is higher than what can be considered as naturally occurring. It is clear that melamine has been artificially added to adulterate these products. As melamine contamination was already uncovered in several products, AVA has suspended the import and sale of all milk and milk products from China since 19 September 2008. Retailers and importers have been instructed to recall these products and these products will be withheld from sale until such products are safe for consumption. Anyone finding such products still on sale should inform AVA immediately. There have been recent advertisements by some food companies assuring consumers on the safety of their milk or milk products manufactured in China, claiming that the milk ingredients in such products came from other countries. Companies should not make such claims unless they have been verified with AVA. AVA would like to reiterate that as long as the milk or milk products are produced in China, such products are suspended from import and sale in Singapore. AVA will not hesitate to take enforcement actions against any company who violates this ban. http://docs.google.com/gview?a=vq=cache:zicP4VhuGu8J:www.ava.gov.sg/NR/rdonlyres/5DD7CAF8-82EB-4BDF-AD50-83A556546488/22147/AVApressreleasefor30Sepappvd_website_021008.pdf+singapore+ava+moh+china+milkhl=engl=sg Local food manufacturers have also been instructed to cease the use of milk and milk products from China as ingredients. Consignments which have newly arrived or are on the way will also be withheld from sale. If the consumers have already bought the contaminated products or any other milk or milk products from China, they are advised not to consume them. Consumers should read the labels of the products to check the country of origin. If the milk or milk products are from China, consumers should not consume them. http://gardenclinic.net/gardenkids/article/Melamine.pdf Miscellaneous It has become apparent in recent days that people in China have been deliberately watering down the milk to cut costs, then adding in the melamine to boost the protein content and make the product look normal. Singapore is an island nation which imports virtually all its food.

Microscope Lab Report Essay -- Microscopes

Lab Work Not Included The purpose for completing this lab was to observe how microscopes function. The invention & evolution of the microscope has been an ongoing process since the Middle Ages, when the first convex magnifying lenses were introduced. In 1590, the Jansen Brothers invented the first compound microscope (two or more lenses).However, Antony van Leevenwenhoek created the first â€Å"true† microscope, in 1665, with 300x magnification & unbelievable resolution. During the late 1700’s, the microscope was reinvented with 1500x magnification. The most recent advancement in microscopes is the electron microscope, which was invented in 1930. This particular model uses an electron beam, instead of light & 4,000,000x magnifications with incredible resolution. There are many different parts of a microscope and each one has its own unique purpose. The compound microscope has 13 main parts. The base & arm are used to carry the microscope. The lamp or mirror is the source of light, the body tube lets light through, & the diaphragm controls the amount of light. There are also three dif... Microscope Lab Report Essay -- Microscopes Lab Work Not Included The purpose for completing this lab was to observe how microscopes function. The invention & evolution of the microscope has been an ongoing process since the Middle Ages, when the first convex magnifying lenses were introduced. In 1590, the Jansen Brothers invented the first compound microscope (two or more lenses).However, Antony van Leevenwenhoek created the first â€Å"true† microscope, in 1665, with 300x magnification & unbelievable resolution. During the late 1700’s, the microscope was reinvented with 1500x magnification. The most recent advancement in microscopes is the electron microscope, which was invented in 1930. This particular model uses an electron beam, instead of light & 4,000,000x magnifications with incredible resolution. There are many different parts of a microscope and each one has its own unique purpose. The compound microscope has 13 main parts. The base & arm are used to carry the microscope. The lamp or mirror is the source of light, the body tube lets light through, & the diaphragm controls the amount of light. There are also three dif...

Financial statements Essay

David Sheridan provided statements that did not reflect Global’s current financial situation which mislead creditors and investors. Borrowing more money would have indicated that the business was in the process of losing assets which would cause stakeholders withdraw and to discontinue investing with the company. This is similar to the Enron scandal, which greatly affected stakeholders not only financially but also morally. According the American journal of business (2006), â€Å"Enron’s top managers chose stakeholder deception and short-term financial gains for themselves, which destroyed their personal and business reputations and their social standing†. After reviewing the AICPA’s Articles of Professional Conduct, I believe that David violated Article I and III. According to Edmonds, T. (2010), Article I Responsibilities- â€Å"In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities†. Article III Integrity- â€Å"To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity† (p. 65). There are three features of the fraud triangle. Edmonds, T. (2010) states, â€Å"Opportunity is shown at the head to the triangle because without opportunity fraud could not exist†. David found an opportunity that he thought would benefit the company, which allowed Global to hide non-profitable assets in another company without disturbing investors and creditors. It also provided an opportunity, as Global would not need to borrow more money. Edmonds, T. (2010) explains, â€Å"The second element of the fraud triangle recognizes pressure as a key ingredient of misconduct. A manager who is told â€Å"either make the numbers or you are fired† is more likely to cheat than one who is told to â€Å"tell it like it is.† (p.67). I believe that David felt the pressure as to produce results in order to keep the business from failing. The third element of the fraud triangle is rationalization. According to Edmonds, T. (2010), â€Å"Few individuals think of themselves as evil. They develop rationalizations to justify their misconduct† (p. 67). I believe David and the others involved believed that they were not actually defrauding the people since they had planned to balance the sheets on the financial statements when the economy picks up or the business stock prices rise. References Edmonds, T. (2010). Survey of Accounting, 2nd Edition (2nd ed). McGraw-Hill Primis Custom Publishing. Petrick, J. A., & Scherer, R. F. (2006). The Enron Scandal and the Neglect of Management Integrity Capacity. American journal of business, 18(1), 126.

Surrogate Marketing (Advertising)

The makers of these brands were banned to advertise and they resorted to surrogate advertising. It is a sort of advertising where a cover product is promoted in order to promote the actual product that is banned. Surrogate marketing refers to intentionally utilizing a company, person or object to help convey the message of another party. The term has both positive and negative connotations. On the positive side, surrogate marketing is somewhat akin to grassroots or viral marketing in which a marketing organization may actively recruit others to help spread the message or can also be likened to hiring a manufacturer’s representative to sell your product. However, it is the negative side that seems to have drawn the most attention. A surrogate advertising campaign can be used to indirectly promote products or services deemed by some groups as being unhealthy, unethical, and immoral or, possibly, illegal through activities that are viewed as acceptable forms of promotion. For instance, in some parts of the world where regulation exists that may ban promoting alcohol and tobacco, firms promote these brands by tying the brand names to more acceptable products. For instance, the same brand name used for selling cigarettes may also be the same brand name on a juice product. In this way the customer is not only aware of the acceptably advertised brand but also understands the connection to the regulated product. Surrogate advertisements took off not long ago in the UK, where British housewives protested strongly against liquor advertisements â€Å"luring† away their husbands. The liquor industry found a way around the ban: Surrogate advertisements for cocktail mixers, fruit juices and soda water using the brand names of the popular liquors. In India, ministry of health has banned the advertising of liquor and tobacco. But many liquor brands (like McDowell's whisky) initiated other products like sodas in the same name which are then advertised. Another instance of surrogate advertising is ‘Four Square Bravery Awards' in the name of Four Square cigarettes. Surrogate marketing is used in two contexts: the first is when a company â€Å"farms out† the entire marketing function and the group providing the service is called a â€Å"surrogate marketing department. † I don't believe this is the context for which you are looking. The second is what is happening in India with respect to the ban on tobacco and alcohol advertising. Companies in banned industries are introducing brand extensions with products that are legal to advertise with the same brand name as the banned product. One liquor company introduced apple juice with the same brand name as the liquor. The idea is the companies can advertise freely the extension – thus keeping their banned-from-the-media products in the minds of the customers. So the apple juice, for instance, is the surrogate for the liquor in the ads. The companies also don't care much about the sales of the surrogate products -for instance, it seems that the apple juice isn't even readily available to buy throughout the company. This loophole that the tobacco and liquor companies are exploiting is upsetting the legislature because every apple juice ad that reminds the consumers of the liquor is a slap in the lawmakers' faces. But, they also don't quite know what to do about it! In general, surrogate marketing is when you promote one product or service in the hopes of selling another. Why you would want to do that varies. The best reason is that you aren't able to legally. But other reasons might be because the two products sell better together – for instance, you may make a product and it requires service – which you don't provide. You can market a service provider – the surrogate – who will only use your product.