Rolls Royce Essay Example for Free

Rolls Royce Essay a) Company Information. Rolls Royce PLC is the second largest multinational organisation that produces power integrated systems after GE Aviation. Rolls Royce operates in four different types of economic markets which are the civil and defence aerospace market as well as the marine and energy markets. The company makes engines for jets, helicopters, and turboprop aircraft not only do they produce engines but they also install these systems. Rolls Royce PLC has 50,000 engines in service with 500 major airlines. Rolls Royce PLC is a global company that is known in over 50 countries, the name Rolls Royce comes from the last names of its founders, Henry Royce and Charles rolls. The company was initially formed in 1904 to produce cars and car engines. In 1914 it also produced its first aircraft engine, as the company expanded in 1971 it became a PLC, the company was then split into two and sold to a BMW company that is now known as Rolls Royce motor cars LTD. Rolls Royce PLC retained the right of its trademarks so it can use it to operate in the markets it does. Rolls Royce has invested a sufficient amount of money into research n development of its products and technology it uses to produce them. It also invests somewhat  £300 million a year on capital projects. In recent events Rolls Royce was awarded a contract by the ministry of defence to supply those engines for their aircrafts for the next five years, they also secured more than $1 billion worth of orders from an recent air show. b) Information required to aid managers. Managers need to plan ahead they require important information to enable them to run the day to day and future operations of the company. Depending on where your company stands in the economic market and its needs at that particular time it wants to be able to sift through information selecting what is relevant and applying it to the company. Rolls Royce understands how important it is for management data as this coupled with their knowledge and expertise helps them to maximise their operational expertise. Rolls Royce needs information such as income, expenditure and capital employed to be able to plan and prepare budgets for the future this information is very important to Rolls Royce as for example it can help them to work out any repair costs to engines being produced and how many extra components that maybe needed. Forecast is very important for Rolls Royce, as it can help them predict how many contracts they may receive and what companies to target in certain circumstances for example wars are predicted, this means the demand for military aircrafts will increase this will aid Rolls Royce to keep up with changing economic environments. Information such as pricing is also very important to Rolls Royce as they are the second largest company supplying engines to the aviation market they need to be able to set prices ahead of their competitors so they can win large contracts to stay in the game. Feedback from customers is very important not just from the customers Rolls Royce provides to but even to the extent of feedback from the public for example; emirates airlines customers expected more leg room in their planes, not only this the airline through research predicted more first class passengers if there planes where designed with more room and better bathroom facilities for the high class passengers. All this information could help Rolls Royce design and produce larger planes which require larger more complicated engines not only this it could set a new trend of better travel. 2. Management accounting techniques are necessary to run a business effectively. These techniques primarily affect costs and prices within the corporation. I. Budgeting A budget is developed to plan for the future. A company as big as Rolls Royce needs a master budget to predict costs and revenues for the year. Budgets can also be used to control stock levels, predict the amount of staff required on particular projects and how many hours they are required to work. These budgets can be compared with financial statements at the year end to see how consistent they have been in maintaining the budget and targets. Finally, budgets should include funds for investment opportunities, so when these opportunities arise Rolls Royce can take swift action for example Rolls Royce receives an order of 100 engines from an airline to be able to carry out such an order budgeting can help predict how much it may cost to produce these engines not only this but the number of new staff required. II. Benefits As I mentioned budgets can provide objectives and goals. These can motivate people to perform effectively, especially if the workforce was asked to contribute when the budget was set. Budgets can also force managers to make accurate use of Rolls Royces capital. Ultimately, Rolls Royce can organise the organisation because the budget affects all departments not just one due to business activities existing throughout the company. III. Limitation Budgets can reduce motivation in the workforce at Rolls Royce because staff will be under pressure to maintain targets of the budgets. Effects such as these result in stressful staff which may lead to them taking sick leave. Therefore, Rolls Royce will be short staffed in certain situations. A major issue that may arise due to budgets is that of conflict. Conflict can be good and bad in a workforce. In the case of Rolls Royce there might be departments arguing about unfair resources allocation, which is bad conflict. Therefore, if targets are not met, departments will blame each other and this will result in more conflict and a poor organisational culture. Budgets can encourage managers to overestimate costs so that they are not blamed if there is any overspending. Rolls Royce could lose out on lucrative deals if they do not budget for investment opportunities. b: I. Standard Costing Standard costing sets levels of costs and revenues which ought to be achievable when reasonable levels of performance are used, together with efficient working practices, to manufacture a product†. (Harrison, 1998:228) This management technique is very useful for Rolls Royce because they produce their own Engines. This costing method compares predetermined costs of products with actual costs incurred. Rolls Royce can calculate many variances, such as material, labour and overheads. The materials variance will show Rolls Royce how well they use their materials and how cheap they are purchasing materials. E.g. Rolls Royce budget to purchase 10,000kg of materials at  £2.00 per kg totalling to  £20,000, but really purchase 10,000kg at  £1.50 per kg totalling to  £15,000, there is a  £5000 favourable variance. This means that the purchase price of the materials was cheaper than expected. The labour variance will show the rate being paid to workers, and how efficiently the employees have been working. Finally, the overhead variances will show Rolls Royce the difference between overhead rates charged and budgeted on production. II. Benefits By setting standards Rolls Royce can identify weaknesses in the manufacturing system. This will allow them to rectify problems and produce effectively. Setting standards will also motivate people to maintain targets. If targets are not being met managers will be encouraged to review methods to reduce costs. This method represents the correct cost of a product and can inspire managers and employees to improve from year to year on saving costs. III. Limitations To have a well maintained system it will be costly for Rolls Royce but will be worthwhile. Due to prices changing frequently because of inflation, the system will need to be updated frequently which can be time consuming and therefore distracts managers/employees from production. If targets are not achieved, employees can lose motivation and this could affect the performance of the workforce. c) I. Pricing One of the most crucial decisions a company must make is the price of a product. Two main features that must be considered when setting a price on a product is the cost and revenue maximisation. There are three pricing methods; cost based pricing, going rate, and pricing policies. There are various methods of applying cost based pricing, but the most relevant for Rolls Royce is considering total costs. This method covers a profit margin and the cost of the product. This is very important to Rolls Royce as they are not the first largest company providing power systems to the aviation market by setting a price which is lower than GE Aviation its competitor they may be able to attract more contracts for example if GE Aviation Sold 20 engines at $20million Rolls Royce could sell the same amount of engines for $19.5 Million helping them achieve more sales and attract more customers. II. Benefits. Rolls Royce can benefit from cost plus pricing by many ways. Firstly, managers can set a mark up to their desire, there is no fixed limit on mark up but it must be reasonable and competitive. Baxter and Oxenfeldt (1961) state, cost plus pricing â€Å"offer a means by which plausible prices can be found with ease and speed, no matter how many products the firm handles†. (Drury, 2004:432) Finally, if all firms in the market have similar mark up and cost structures to Rolls Royce, there will be price stability, which is good for customers. Rolls Royce can benefit from the going rate because customers will buy from them due to their reputation as they operate in four different markets providing power system even though competitors will have the same price. Loss leader pricing is useful for Rolls Royce because when customers are attracted by a low price of aircraft or engine, it is almost certain that consumers will purchase a higher quantity of these systems. This compensates for the low mark up as more items are sold. III. Limitations. The main limitation of cost plus pricing is that the demand for the product is not taken into account. The going rate on products can be difficult to compare with competitors because; some companies might have lower production costs than others. Using a loss leader strategy to sell items can cause problems if you dont sell all the stock. If this occurs, prices can only be reduced further to clear out remaining stock, which subsequently leads to further losses. d) I. Long Term Decisions (Investment Appraisal) Rolls Royce will need to use investment appraisal techniques to decide whether certain investments will be worthwhile, e.g. supplying 20 Airbus A330 jets to air china. The most convenient method for these examples would be ‘payback. Payback is, â€Å"The time required for the cash inflows from a capital investment project to equal the cash outflows†. (Lucey, 2002:352) E.g. supplying air china 20 airbus A330 jets will cost  £500 million, and the turnover is  £100 million per year, therefore the payback period is 5 years. This method can also be used to decide between two investments, e.g. supplying Air China 20 Airbus A330 or supplying Singapore airlines 30 airbus A330. Depending on the payback period resulting from projected inflows and outflows, the company can decide which airline to supply too. The best choice will be the one that has the quickest payback period. II. Benefits. Payback is the most simple investment appraisal technique to calculate. This will be good for Rolls Royce when swift decisions are required. This method will be easy to understand at all levels of the company. Another benefit of this method is that it will prevent cash flow problems because money is recovered as soon as possible. III. Limitations. The major limitation of payback is that once the initial investment has been recovered, all future cash flows are ignored. This method also assumes that if the payback period is long the investment will not be successful. Hence, if Rolls Royce decides to supply engines to air china instead of Singapore airlines there will be a gradual payback period, does that mean the investment will not be successful? Finally, this method does not account for time value of money. Therefore, an investment now could be worth more in ten years. Read more: http://www.ukessays.co.uk/essays/accounting/rolls-royce-plc.php#ixzz2LvPZSk6S

Opium Wars in China Essay -- Chinese Opium Research History Essays

Opium Wars in China The Opium Wars were a series of three wars between the Chinese and the British; primarily fought in regard to the illegal trade of opium in China during the 19th century. They manifested the conflicting natures of both nations and demonstrated China’s misconceptions of its own superiority. The Opium Wars resulted in the humiliating defeat of the Chinese to a country they considered to be â€Å"barbarians†. There were many problems with the system of trade in China; even before opium trading began. China, believing herself to be the most civilized and advanced country, did not feel the need to satisfy Britain, a â€Å"barbarian† country’s request for freer trade and were concerned the British wanted land. Britain however, had no desire for land and only wished to trade, believing it was their right to do so. These misunderstandings and differing opinions were only the start of more to come. They set the foundations to the British and Chinese hostilities. China’s monopolistic system of trade caused great frustration for the British. The incompatible British and Chinese views on trade resulted in the First Opium War. All trade in China was channeled through the city of Canton and was regulated by a group of Chinese merchants known as the â€Å"cohong† who imposed irregular taxes. No direct contact between the foreigners and Chinese were allowed. Such limitations and conditions caused dissatisfaction among the foreign merchants, in particular the British, who ...

The Return: Midnight Chapter 30

â€Å"Strip to your underwear and get in on the other side,†Damon said. His voice was neither angry nor fatuous. He added shortly, â€Å"Elena is dying.† The last three words seemed to affect Stefan particularly, although Elena couldn't parse them. Stefan wasn't moving, just breathing hard, his eyes wide. â€Å"Bonnie and I have been gathering hay and fuel and we're All right.† â€Å"You've been exercising – moving about – wearing clothes that kept you warm. She's been dunked in ice water and sitting Still – high up in the wind. I got the other thurg to break off wood from the dead trees around here and try it on the fire. Now get the hel in, Stefan, and give her some body warmth, or I'm going to make her a vampire.† â€Å"Nnn,†Elena tried to say, but Stefan didn't seem to understand. Damon, however, said, â€Å"Don't worry. He's going to warm you up from the other side. You won't have to become a vampire just yet. For God's sake,†he added suddenly, explosively, â€Å"some prince you picked!† Stefan's voice was quiet and tense. â€Å"You tried putting her in a thermal envelope?† â€Å"Of course I tried, you idiot! No magic works beyond the Mirror except telepathy.† Elena had no sense of time going by, but suddenly there was a familiar body pressed against hers from the other side. And somewhere directly in her mind: Elena? Elena? You're All right, aren't you, Elena? I don't care whether you're playing a joke on me. But you're real y All right, aren't you? Just tell me that, love. Elena wasn't able to answer at all. Dimly, fragments of sound came to her ears: â€Å"Bonnie†¦on top of her and†¦pack ourselves back on either side.† And dul feelings stirred her sense of touch: a smal body, almost weightless, like a thick blanket, pressing down on her. Someone sobbing, tears dripping on her neck from above. And warmth on either side. I'm asleep with the other kittens, she thought, dozing. Maybe we'l have a nice dream. â€Å"I wish we could know how they're doing,†Meredith said, on a pause from one of her pacing bouts. â€Å"I wish they knew how we're doing,†Matt said wearily as he taped another note card amulet onto a window. And another. â€Å"Do you know, my dears, I kept hearing a child crying last night in my dreams,†Mrs. Flowers said slowly. Meredith turned, startled. â€Å"So did I! Right out on the front porch, it sounded like. But I was too tired to get up.† â€Å"It might mean something – or nothing at all.†Mrs. Flowers frowned. She was boiling tap water for tea. The electricity was sporadic. Matt and Saber had driven back to the boardinghouse earlier that day so that Matt could gather Mrs. Flowers's most important instruments – her herbs for teas, compresses, and poultices. He hadn't had the heart to tel her about the state of the boardinghouse, or what those maggot malach had done to it. He'd had to find a loose board from the garage to get from the hal to the kitchen. There was no third floor anymore and very little second. At least he hadn't run into Shinichi. â€Å"What I'm saying is that maybe there's some real kid out there,†Meredith said. â€Å"At night alone? Sounds like a Shinichi zombie,†Matt said. â€Å"Maybe. But maybe not. Mrs. Flowers, do you have any idea of when you hear the crying? Early in the night or late?† â€Å"Let me think, dear. It seems to me that I hear it whenever I wake up – and old people wake up quite frequently.† â€Å"I usual y hear it toward the morning – but I usual y sleep without dreaming for the first few hours and wake up early.† Mrs. Flowers turned to Matt. â€Å"What about you, Matt, dear? Do you ever hear a sound like crying?† Matt, who deliberately overworked himself these days to try to get a solid six hours of sleep at night, said, â€Å"I've heard the wind kind of moaning and sobbing around midnight, I guess.† â€Å"It sounds as if we have an al -night ghost, my dears,†Mrs. Flowers said calmly and poured them each a mug of tea. Matt saw Meredith glance at him uneasily – but Meredith didn't know Mrs. Flowers as well as he did. â€Å"You don't real y think it's a ghost,†he said now. â€Å"No, I don't. Ma ma hasn't said a word about it, and then it's your house, Matt, dear. No gruesome murders or hideous secrets in its past, I should think. Let me see†¦Ã¢â‚¬ She shut her eyes and let Matt and Meredith go on with their tea. Then she opened her eyes and gave them a puzzled smile. â€Å"Ma ma says ‘search the house for your ghost. Then listen well to what it has to say.'† â€Å"Okay,†Matt said poker-faced. â€Å"Since it's my house, I guess I'd better search for it. But when? Should I set an alarm?† â€Å"I think the best way would be to arrange a watch rota,† Mrs. Flowers said. â€Å"Okay,†Meredith agreed promptly. â€Å"I'l take the middle watch, from midnight to four; Matt can have the first one; and Mrs. Flowers, you can have the early-morning one, and get a nap in the afternoon if you want.† Matt felt uneasy. â€Å"Why don't we just break it up into two watches and the two of you can share one? I'l take the other.† â€Å"Because, dear Matt,†Meredith said, â€Å"we don't want to be treated like ‘ladies.'And don't argue† – she hefted the fighting stave – â€Å"because I'm the one with the heavy equipment.† Something was shaking the room. Shaking Matt with it. Stillhalf-asleep, he put his hand under his pil ow and pul ed out the revolver. A hand grabbed it and he heard a voice. â€Å"Matt! It's me, Meredith! Wake up, wil you?† Groggily, Matt reached for the lamp switch. Again, strong, slim cold fingers prevented him from doing what he wanted. â€Å"No light,†Meredith whispered. â€Å"It's very faint, but if you come with me quietly, you can hear it. The crying.† That woke Matt up the rest of the way. â€Å"Right now?† â€Å"Right now.† Doing his best to walk quietly through the dark hal s, Matt fol owed Meredith to the downstairs living room. â€Å"Sh!†Meredith warned. â€Å"Listen.† Matt listened. He could hear some sobbing All right, and maybe some words, but they didn't sound al that ghostly to him. He put his ear to the wal and listened. The crying was louder. â€Å"Do we have a flashlight?†Matt asked. â€Å"I have two, my dears. But this is a very dangerous time of night.†Mrs. Flowers was a shadow against darkness. â€Å"Please give the flashlights to us,†said Matt. â€Å"I don't think our ghost is very supernatural. What time is it, anyway?† â€Å"About twelve forty A.M.,†Meredith answered. â€Å"But why do you think it isn't supernatural?† â€Å"Because I think it's living in our basement,†Matt said. â€Å"I think it's Cole Reece. The kid who ate his guinea pig.† Ten minutes later, with the stave, two flashlights, and Saber, they had caught their ghost. â€Å"I didn't mean anything bad,†Cole sobbed, when they had lured him upstairs with promises of candy and â€Å"magic†tea that would let him sleep. â€Å"I didn't hurt anything, honest,†he choked, wolfing down Hershey bar after Hershey bar from their emergency rations. â€Å"I'm scared that he's onto me. Because after you hit me with that sticky note, I haven't been able to hear him in my head anymore. And then you came here† – he gestured around Matt's house – â€Å"and you had amulets and I figured it would be better to stay inside them. Or it could be my Last Midnight too.† He was babbling. But something about the last words made Matt say, â€Å"What do you mean†¦'your Last Midnight too'?† Cole looked at him in terror. The rim of melted Hershey bar around his lips made Matt remember the last time he'd seen the boy. â€Å"You know, don't you?†Cole faltered. â€Å"About the midnights? The countdown? Twelve days til the Last Midnight? Eleven days til the Last Midnight? And now†¦tonight is one day til the Last Midnight†¦Ã¢â‚¬ He began to sob again, even while cramming chocolate into his mouth. It was clear that he was starving. â€Å"But what happens on the Last Midnight?†Meredith asked. â€Å"You know, don't you? That that's the time when†¦ you know.†Maddeningly Cole seemed to think they were testing him. Matt put his hands on Cole's shoulders, and to his horror felt bones under his fingers. The kid really was starving, he thought, forgiving him al the Hershey bars. His eyes met Mrs. Flowers's eyes and she immediately went to the kitchen. But Cole wasn't answering; he was mumbling incoherently. Matt forced himself to apply pressure to those bony shoulders. â€Å"Cole, talk louder! What's this Last Midnight about?† â€Å"You know. That's when†¦al the kids†¦ you know, they wait up and at midnight†¦they get knives or guns. You know. And we go into our parents'room while they're asleep and†¦Ã¢â‚¬ Cole broke down again, but Matt noticed he had slipped into saying â€Å"we†and â€Å"our†by the end. Meredith spoke in her calm, steady voice. â€Å"The children are going to kil their parents, is that right?† â€Å"He showed us where to slash or stab. Or if there's a gun – â€Å" Matt had heard enough. â€Å"You can stay – in the basement,†he said. â€Å"And here are some amulets. Put them on you if you feel like you're in danger.†He gave Cole a whole packet of Post-it Notes. â€Å"Just don't be afraid,†Meredith added, as Mrs. Flowers came in with a plate of sausages and fried potatoes for Cole. At any other time the smel would have made Matt hungry. â€Å"It's just like that island in Japan,†he said. â€Å"Shinichi and Misao made it happen there, and they're going to do it again.† â€Å"I say time's running out. Actual y it's already the Last Midnight day – it's nearly one thirty in the morning,†Meredith said. â€Å"We have less than twenty-four hours. We should either get out of Fel ‘s Church or do something to arrange a confrontation.† â€Å"A confrontation? Without Elena or Damon or Stefan?†Matt said. â€Å"We'l be murdered. Don't forget Sheriff Mossberg.† â€Å"He didn't have this.†Meredith tossed the fighting stave into the air, caught it neatly, and put it at her side. Matt shook his head. â€Å"Shinichi wil Stillkil you. Or some little kid wil , with the semi-automatic from Daddy's closet.† â€Å"We have to do something.† Matt thought. His head was pounding. Final y he said, head lowered, â€Å"When I got the herbs I got Misao's star bal , too.† â€Å"You're kidding. Shinichi still didn't find it?† â€Å"No. And maybe we could do something with it.† Matt looked at Meredith, who looked at Mrs. Flowers. Mrs. Flowers said, â€Å"What about pouring out the liquid in different places in Fel ‘s Church? Just a drop here and a drop there? We could ask the Power in it to protect the town. Maybe it would listen.† Meredith said, â€Å"That was the exact reason we wanted to get Shinichi's and Misao's star bal s in the first place. The star bal s control their owners, according to legend.† Matt said, â€Å"It may be old-ways thinking, but I agree.† Meredith said, â€Å"Then let's do it right now.† While the other two waited, Matt got Misao's star bal . It had a very, very little liquid on the bottom. â€Å"After the Last Midnight she plans to fil it to the top with the energy of the new lives that get taken,†Meredith said. â€Å"Well, she's not going to get a chance to do that,†Matt said flatly. â€Å"When we're done we'l destroy the container.† â€Å"But we probably should hurry,†Meredith added. â€Å"Let's get some weapons together: something silver, something long and heavy, like a fire iron. Shinichi's little zombies are not going to be happy – and who knows who's on his side?†

Factors That Affect Team Cooperation At The Team Level

Introduction Although the team has its advantages, but the reality of teamwork there will still be a lot of problems that hinder the efficiency of teamwork and make the team cannot produce the desired high performance. This reflection is the analyses and experiences of teamwork in the process about group presentation. It puts forward many factors which affect team cooperation at the team level, including the team characteristics and the impacts of cohesiveness, norming and the conflict in different stages of team development. The purpose is to analyse the relationship between these factors and teamwork, give the follow-up to its improvement, and further promote to the performance of teamwork. Discussion Team Characteristics Team size†¦show more content†¦Perhaps because all the members came from Asia, it caused the similar value views and world views. When we talked the social phenomenon in our own countries, other members always feeling empathy about it. Moreover, the diversity can bring some benefits. For example, we decided to use English in all team meetings and conversation. By doing this, we can practice English frequently. Also, this is a respecting for using all-understand language when the team members came from different country. On the other hand, some studies suggest that the diversity can be distinguished to surface-level and deep-level which refer to demographic differences and psychological differences (Price, Harrison, Gavin, Florey, 2002). However, studies distinguished diversity from different angles which in order to provide various theories to help teams to recognise the advantage of multiformity. Recently, research studies have confirmed that diversity can contribute to a positive level of conflict and it leads to better decision making. Member roles For an effective team, it is absolutely necessary to clear identify what roles do the members perform. 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