Management Task Analysis Research Paper Example | Topics and Well Written Essays - 1000 words

Management Task Analysis - Research Paper Example Although all the industries need to remain alert all the time so that they can keep their customers satisfied and attracted to their products and services. In case of manufacturing businesses, the processes of operations are the most crucial areas of emphasis and the organizations have to make sure that the end product is produced in compliance with the set standards (Zacharatos et al., 2007). In case of automobile companies, the complete operation process is important and every step which starts from the raw material selection to the final product production is vital that needs adequate attention by the management staff (Stanton, 2005). In order to make sure that the cars are produced in the best possible manner, the complete production process needs to be given utmost consideration by the management team. To understand the types of production processes employed in various forms of automobile companies, three companies are being considered, i.e., Ferrari, Rolls-Royce and Toyota. Fer rari Ferrari is the leading name in case of the car racing companies; the company is well-known for the best range of cars that it manufactures for the racing events. In recent times, the company like other automobile companies has made sure that their operation system is flexible so that the engines can be modified according to the customers’ requirements. Crystal and Ellington (2004) stated that the automobile companies need to make sure that they implement those production processes that will help them in increasing their output processes. In case of Ferrari, the market comprises niche target market that values the performance of the engine along with the quality of the car and they are insensitive to its price. The company designs the products for the customers who want to participate in the racing events. For the customers of Ferrari, the most important factor is the smooth running of the cars and they will be paying any price for it. The management tasks for the company , as stated by Gray and Leonard (2009), can be divided as order selection, scheduling of the orders, batch size, inventory management and process improvement. The tasks will have to be carefully monitored by the management team to ensure that the end product has the best quality. The operation systems need to be flexible so that they can be modified according to the customers’ preferences. In the case of Ferrari, the operation process will be a continuous process and line process cannot be implemented as in most of the cases the end product will not be the same. In case of Ferrari, the most important management tasks comprise assessing the staff needs for capacity utilization, long-term planning and inventory requirements along with addressing long-term planning issues such as location issues (Mashilo, 2010) and technological advances that happen constantly (Embrey, 2002). Vertical integration with the suppliers becomes important and adequate inventory needs to be maintained so that the demands are adequately addressed; the labors need to be skilled in handling all the operative measures (Hertzum & Jacobsen, 2003; KPMG, 2005). Rolls-Royce Rolls-Royce is the leading name in the luxury car assembly plant and it is important for the management team to make sure that the operation procedures are properly designed. In order to make sure that

Samedaymay30 Part 2, DQ1AB and DQ2 KD Essay Example | Topics and Well Written Essays - 250 words

Samedaymay30 Part 2, DQ1AB and DQ2 KD - Essay Example In 2008 the U.S derivative market was estimated to be worth over $600 trillion (Sheridan, 2008). Information asymmetry is imperative for the derivative market to function properly. I have a friend that invested $5000 in the derivative market last year. He lost the majority of his money because he did not perform good research and because he took big chances that did not pay off. An option is a privilege sold by one party to another which offers the buyer the right to buy (call) or sell (put) a security at an agreed-upon price during the specified period or on a specified date (Teweles & Bradley & Teweles, 1992). I did not realize prior to doing research on this subject that the U.S derivative market is worth over $600 trillion. To become an investor in the derivative market with instruments such as options one must be an advance or institutionalized investor. I would not recommend a novice investor to invest money in options. People entering the stock market are better suited to invest in financial instruments such as mutual funds. I agree with you that volatile markets lead to volatile pricing. A real life example of that effect is what occurs with food prices when scarcity influences the market. â€Å"Volatility in and of itself is a measure of price movement over a given period of time† (Learn-stock-options-trading, 2009). Risk must be considered when investing in options. â€Å"The vast majority of works on option pricing operate on the assumption of risk neutral valuation† (Ben-Meir, Schiff,