Relationship Between Emotional Intelligence And Leadership Education Essay

Relationship Between Emotional Intelligence And Leadership Education Essay One What is the relationship between emotional intelligence (EI) and leadership? Do you see evidence of the leaders in your organizations displaying EI? Explain. Students answer Research suggests that emotional intelligence is related to several aspects of transformational leadership, such as inspirational motivation, individualized consideration (Palmer, Wall, Burgess, Stough, 2001) and idealized influence (Barling, Slater, Kelloway, 2000). Mills (2009) performed a meta-analysis of 48 studies to examine the relationship between emotional-intelligence and effective leadership. Mills found  strong evidence for the essential elements of emotional intelligence models (Bar-On, 2006; Dulewicz Higgs, 2000; Goleman, Boyatzis, McKee, 2002; Mayer Salovey, 1997) and all four components of transformational leadership. Mills suggested that emotions may be intertwined with transformational leadership skills. Based on these results, Mills asserted that emotional intelligence should no longer be considered a soft skill, but should be incorporated into leadership development programs. Several leaders in my organization exhibit the elements of emotional intelligence, as described by Goleman et al. (2002). I would also describe these leaders as effective and transformational.  Do you think that emotional intelligence is a prerequisite of transformational leadership?   References: Barling, J., Slater, F., Kelloway, E. K. (2000). Transformational leadership and emotional intelligence: An exploratory study. Leadership Organization Development Journal, 21, 157-161. Bar-On, R. (2006). The Bar-On model of emotional-social intelligence (ESI).  Psicothema, 18 (suppl.), 13-25. Dulewicz, V., Higgs, M. (2000). Emotional intelligence a review and evaluation study. Journal of Managerial Psychology, 15, 341-372. Goleman, D., Boyatzis, R., McKee, A. (2002). Primal leadership: Realizing the power of emotional intelligence. Boston, MA: Harvard Business School Press. Mills, L. B. (2009). A meta-analysis of hate relationship between emotional intelligence and  effective leadership. Journal of Curriculum and Instruction, 3, 22-38. Palmer, B. R.,  Walls, M., Burgess, Z., Stough, C. (2001). Emotional intelligence and effective leadership. Leadership Organization Development Journal, 22, 5-10.  Ã‚   Mayer, J. D., Salovey, P. (1997). What is emotional intelligence? In P. Salovey D. J. Sluyter (Eds.), Emotional development and emotional intelligence (pp. 3-31). New York: Basic Books. My answer. Emotional intelligence is related to leadership. Its true since the history of emotional intelligence dates back to the times of Darwins work. According to Thorndike (1920) emotional intelligence is defined as the skill of understanding and managing other people. This ability to understand other peoples feelings, fears and motivation is what leadership is all about. In the thesis of Wayne Payne a study of emotional intelligence in 1985 is first defined in terms of the traits related to leadership but the distinction between trait emotional intelligence and ability emotional intelligence is brought in at a later stage in relating personality and leadership. But in my view its true that the two are related. Reference: Thorndike, R.K. (1920). Intelligence and Its Uses. Harpers Magazine 140, 227-335. Question 2 What is the relationship between emotional intelligence (EI) and leadership? Do you see evidence of the leaders in your organizations displaying EI? Explain. Students answer Emotional intelligence (EI) is a competency, which is considered critical for leaders. Leaders who display emotional intelligence are more likely to have better results within the organization (Goleman, 1998). Emotional intelligence is a form of intelligence does not correlate with a technical ability or a leaders expertise.   EI is a soft skill that enables a leader to motivate a team. Many times leaders are promoted into leadership positions based on individual contributory success. They may have excelled as an individual, but are unable to successfully lead a team. According to Goleman (1998), EI is what sets the two individuals apart. Standard IQ and work experience are important abilities, however, Golemans study proved emotional intelligence to be a critical piece of leadership. This study sited that without EI, a leader will not have the ability to become a great leader. The study also correlated low EI with low performance. Leaders who scored low on emotional intelligence tests had a tendency to be terminated or move out of the leadership position voluntarily (Goleman, 1998). Our organization uses a written test called the Previsior. This is an assessment to measure an employees compatibility with our organizations culture and values. We have had frontline employees who worked for the company for 10 years, apply for a supervisory position and fail the test on a poor match for culture. When I argued the results with our human capital partner. I was told the test was not wrong, and if we deviated for one- it could be viewed as discrimination later. While I think that humans should have the ability to override the decision that a computer make- I think the computer made the right decision for that particular employee. It is a difficult story to tell as a leader though. We say that we promote from within, and then when an employee fails the test we write them off- without offering classes or assistance to pass the test in the future. Reference: Goleman, D. (1998). What makes a leader? Harvard Business Review, 76, 93-102. My answer. Its true from the works of Goleman he talks more on the links between emotional intelligence and leadership effectiveness in most of his documentations. From these documentaries although the student does not bring out the relation clearly, according to Geleman its a culture that can be adapted but brings in the issues of cultural intelligence.The researchers Alon Higgins (2005) in their research argue that Cultural intelligence is more important than IQ in a work place. It influences a persons work performance and career success. They move forward to say that emotional intelligence is not only important in our career or business but also in life and leadership. Unlike management, it is all about coping with change while cultural intelligence support this since its defined as the capability for successful adaptation to new culture and unfamiliar setting. Reference: Alon, I. J.M. Higgins. (2005) Global leadership success through emotional and cultural intelligences. Business Horizons publisher. Pp.501-512 Question 3 What is the relationship between emotional intelligence (EI) and leadership? Do you see evidence of the leaders in your organizations displaying EI? Explain. Students answer According to the University of Phoenix Week Seven Lecture, Emotional intelligence is a form of intelligence unrelated to technical or functional expertise. Leaders who display emotional intelligence possess a set of social skills that enable them to guide and motivate followers to achieve company goals (para. 1). Leadership is a persons ability to influence others towards achievement of a common goal. In reviewing the above description of EI, it is stated that EI is social skills that enable them [leaders] to guide and motivate followers to achieve company goals. It seems clear that if EI is not synonymous with leadership, it is extremely closed (directly synergistic). EI plays an essential and direct role in the effectiveness of leadership. Without EI, a leader is essentially not effective and unable to lead or motivate others to achieve common goals. Some of the leaders in my organization display strong EI skills, while others do not. For example, one is much better at maintaining relationships with others and has an open door policy. The other is very much task oriented and very ineffective at building or maintaining relationships. The first one is a very effective team builder, while the other demoralizes and frustrates everyone. Everyone wants to follow the first, while people only follow the other in-so-much as they have to due to his legitimate power (from his position).  Ã‚  Were it not for his legitimate power,  no one in the organization would give him the time of day.   The difference  between these two leaders has shown me the critical importance EI plays in leadership.   Reference Leadership and emotions. (2010). Retrieved from University of Phoenix website: http://classroom.phoenix.edu/afm211/secure/view-thread.jspa?threadID=22548101 My answer. Just like the first question the student has clearly stated the relationship between leadership and emotional intelligence.The only problem he does not have citations in his text to support the ideas. From the works of Salovey (1990) describes emotional intelligence as based on the ability of a leader to understand their own emotions and that of colleagues they work with. He describes three approaches to EI as trait approach, competency and emotional approach. From his text he does not shed out correctly the emotional trait of the leader he claims not to be corporative with other employees he could only be strict to his principles of leadership. Reference: Salovey, P. Mayer, J.D. (1990).Emotional Intelligence, Imagination, Cognition and Personality. Pp 185-211 Question 4 What subjects or topic areas should be included in leadership development programs in the public and private sector? Why did you select these topics? Are leadership training programs today effective? Explain. Students answer The purpose of a leadership program is to prepare leaders with practical strategies that can help them to develop personal plans for developing their leadership potential. Similar topics should be included in leadership training for both the private and the public sector leaders.   One may argue to say that government leaders need addition training in ethics, truth and transparency, but these issues are important to all leaders.  A leadership development plan should include: A strategy guide to develop full potential as leaders Identify techniques to improve your communication skills Develop strategies to manage conflict effectively Teach issues related to the delegation and evaluation of work performance by others Describe ways in which to enhance the leaders ability to cope with change, manage stress, and improve time management skills Provide strategies to improve your critical thinking skills Assist the leader in developing a plan for a rewarding career My answer What the student has presented is true. Leadership programmes remain vital even today both in public and private sectors due to the dynamic demands of management towards result appraisal and performance oriented way of leadership. All topics on leadership are meant for service delivery in leadership that a leader is an individual who is able to manage and lead others in a achieving a set goal. Just as in the case of leadership and emotional intelligence adapting to the different cultures is the important thing in delivery because different organization has got different cultures of management. I think addition of IT in leadership is a vital topic to be included with the rise of computer era in management. Question 5 Why did you select these topics? Are leadership training programs today effective? Explain. Students answer I selected these topics because, these  topics are crucial to the success of leaders within  our organization.  I also feel that  senior leaders did not provide  our middle  management team with  the tools that  are needed for progression to the next level.  Leadership training programs have  recognized needs of the leaders, but since the downturn in the economy- resources are scare and companies are looking for leaders  who can increase revenues  and produce results quickly.   These  leaders have a proven record of accomplishment and require minimal training.    Leadership is a subject that continues to be examined and even discussed in the educational system for youth. In the public and private sector there are three subjects that should be included, which are honesty and integrity. According to Wren (1998), integrity is the correspondence between word and deed and honesty refers to being truthful or non-deceitful. The two form the foundation of a trusting relationship between leader and followers. These subjects should be included because so many in leadership lack honesty and integrity. The primary leader of an organization or prominent figure shapes the morale or culture of that company, city, country, etcThe behaviors of the leader can have a great impact, thus, learning the cause and effect of being dishonest and lacking integrity should be taught. Leadership training programs are effective today, because they teach extensively how to lead others. Its only effectiveness lies in the person being trained, and what they expect to rec eive. Often times, one can have the best process that has been proven to work; however the individual can be nonreceptive. This does not mean the program is insufficient; it is the persons desire to be trained. Reference Wren, J.T. (1998). Leaders companion: Insights on leadership through the ages. New York: My answer. I agree with the write that leadership training programs are important and they teach how to extensively lead others. These training programs are important if one needs to progress to management level in an organization. The training will at the end improve the companys productivity. This is achieved by adding value to the quality of work hence bringing in new customers. This takes a company to a different level and gaining a competitive advantage over competitors.Companys spend a lot of money in researching about a specific strategic plan and also in implementing it. It would be unfortunate if the leaders are not trained to move hand in hand with these changes. This can be done through invitation of guest speakers who may talk ton whole employs to get the desired company expectations.

The Strategy Used By Munchys Make The Company Marketing Essay

The Strategy Used By Munchys Make The Company Marketing Essay Strategic management is the process which refers to strategy formulating, implementing, and evaluating cross functional decisions to enable an organization to achieve its objectives. A strategy is about long-term planning and it must be implemented and the organization resources as well as its capabilities properly harnessed so as to achieve the planned outcome. Strategic management focuses on integrating management, marketing, finance or accounting, production or operation, research and development, and computer information system to achieve organization success. 2.0 Munchys Background Munchys is known as Malaysias No.1 homegrown biscuit brand which is a remarkable Malaysian success story of five brothers from Muar, Johor. Besides that, Munchy was a company which gains Super brands Status of year 2003, 2004, 2005, 2008, and 2009. Actually the name Munchys was derived from the Mandarin term Mai Qi which Mai is the meaning of flour or wheat and Qi is refers to the magical quality found in the delicious wafers that are made from only the finest ingredients. In the beginning, this business is started by two elder brothers from Tan family who asked their father to allow them to start their own company. With his agreement, their business started out as a cottage operation in Johor back in 1991 with producing wafers, wafer sticks and biscuits with an Austrian-made second-hand wafer stick machine costing RM80, 000. With their high spirits they try their best to produce the highest quality wafer sticks around and they make it as Malaysias No.1 homegrown biscuit brand. From an Original Equipment Manufacturer to a household name, the Munchys brand was born in 1993. In year 2006, Munchy was recorded in Malaysia Book of Records as Largest Wafer Manufacturer in 2005. During 1997 till 1998, Munchy almost went bankrupt during the Asian financial crisis but luckily the company was survived from the Asian financial crisis and its revenue jumped from RM20mil in 1998 to RM50mil in 1999. According to a Nielsen Retail Index Corporate Value Share report in 2008, Munchys was ranked Malaysias No.1 homegrown biscuit brand excluding Sabah and Sarawak from June 2006 to 2008. Besides that, Munchys is keep looking forward at new potential products and innovations as it works towards keeping up its standing in Malaysia as the countrys most innovative and success biscuit brand. They have an entire RD department that specifically focuses on this aspect, so as to always stay at the forefront of innovation. Munchys major markets are in Asia, such as Indonesia, Thailand, Singapore, Taiwan and Japan being its key markets, their vision is to be significant in 100 countries by 2020. On the other hand, Munchys mission is to bring joy and add flavor to every occasion with their high quality, affordable and fun-eating snacks. The companys CEO, C.K Tan always believed in the power of branding and automation and technology will gain benefits in a business. He spent RM500, 000 on IT systems for Munchys in 1997 and now a day he still investing on it because he believe that computerization will makes the productivity of company more efficient. 3.0 PEST in Strategic Analysis The PEST analysis is an analysis which concerned with the environmental influences on a business. It is a business measurement tool for understanding market growth or decline, and as such the position, potential and direction for a business. PEST analysis is also an acronym stand for Political, Economic, Social and Technological issues that could affect the strategic development of a business to assess the market. 3.0.1 Political Munchys have always recognized the important of manufacturing only Halal product since the government of Malaysia focusing on turning the nation into an international Halal Hub. That is a reason why Munchys have a dedicated committee that deals with all things Halal. The Committee is made up of representatives from each key section that contributes to the making of the products. Munchys is setting its sights on a greater share of the regional pie while the tariff and trade barriers are trimmed with the formation of the ASEAN Free Trade Area (AFTA). In fact of this, Munchy have been opened a new branch offices in ASEAN neighbors. 3.0.2 Economic Nowadays, Munchys sales in ASEAN have seen a clear uptrend because of the proactive approach of Munchys done in sales and distribution, For instance, Mr. Tan reveals that sales in Singapore have grown by more than 50% since 2003, making the island Munchys third largest export market. Besides that, The Company has experienced double-digit growth not only within Malaysia but also in Japan, Singapore and other Asian countries. Still, Munchys export growth has been broad-based and their exports have been grown by close to 60% within this year. The local market is also growing, as Malaysias population expands. 3.0.3 Social Nowadays, health as a prime concern is now increasingly by many consumers, accordingly, Munchys have been reformulating their range to feature less sugar, less salt, lower fat and high nutrient content. Munchys believes that it must be a balance achieved between good taste and health. The CEO of the company Mr. Tan frequently used Teamwork as the key word to describe how the company has evolved and transformed. In order to work for teamwork, the staff from all levels must believe and have confidence with the brand of the company and be able to deliver the brand promise effectively to consumers. Munchys has various CSR (corporate social responsibility) programmes in place which mainly aid to orphanages and hospices for children. Munchy Food also aims to produce more quality products on par with international brands but reflecting a typical Malaysian identity by carrying the spirit of Malaysia Boleh. 3.0.4 Technology Munchys tried to keeping up its standing in Malaysia as the countrys most innovative and success biscuit brand, in fact Munchys keep looking forward at new potential products and innovations as it works towards. They have an entire RD department that specifically focuses on new potential products and innovations to ensure the company always stay at the forefront of innovation. They believes that with the technologies and know-how todays, they could probably walk three steps ahead compared to the old days when they could only do things step by step. Actually, Mr. Tan has been started its regional expansion plans where Munchys has sales and marketing teams in Singapore and Indonesia, while establishing teams in a number of other Asian countries. Munchys always believed in the power of branding and automation and technology will gain benefits in a business. He spent RM500, 000 on IT systems for Munchys in 1997 and now a day he still investing on it because he believe that computerizatio n will makes the productivity of company more efficient. 3.1 SWOT analysis SWOT analysis is a basic, straightforward model that provides direction and serves as a basis for the development of marketing plans. It is an acronym used to describe the particular Strengths, Weaknesses, Opportunities, and Threats that are strategic factors for a specific company. It is the first stage of planning and helps marketers to focus on key issues. SWOT analysis is a tool for auditing an organization and its environment. Strengths and weaknesses are internal factors. Opportunities and threats are external factors. 3.1.1 Strength Munchys always emphasizes the delicious wafers that are made from only the finest ingredients. They believe that the only way to produce the highest quality wafer sticks is using the finest ingredients. Besides owning state-of-the-art machines, have a good and committed management team with a strong multinational background assist Munchys investment in talent and that is a factor that sets Munchys apart from the rest of the competition. Another area of strength is their focus on brand-building, Mr. Tan engaged an international branding consultant to establish Munchys as a distinct brand in 2004. Although Mr. Tan believes in continuous product development and he knows that everything starts from the product so he put a lot of innovative ideas into designing the products from the packaging to brand image, the sharp and weight of the products, basically from all aspects. Until now, Munchys company still keeps thinking on how to make the existing products better in innovative. 3.1.2 Weaknesses Although Munchys company always thinking about how to make their product become more innovative, but what they done is just put effort on the wrapping of their product but not in the flavor and the varieties of the product. Munchys should put effort on the variety of their product. For example like Nestle Company, their production such as Milo drinks, ice cream, Chocolate and so on. The varieties of their products on the market strengthen the value of their product in the market. 3.1.3 Opportunities In laying the groundwork for their Asian expansion, Tan started to transform the company three years ago. This included bringing in an impressive senior management team with a strong MNC (Multinational Corporation) background. The idea is to eventually allow Malaysia to run without him as CEO so that he can focus on its regional plans. With the need to bring in new skill sets, Munchys structured a supervising board which is filled by some of the brothers and also some very experienced former chief executives to help guide the company forward. To produce better products, Munchys claims that it is the market leader in the wafer category and the top three in the biscuits market share ranking. Invests substantially in RD, adding that research is an important aspect of branding and it is imperative to work closely with consumers to understand their wants and needs. 3.1.4 Threats Munchys intention to re-brand or remodel Munchys into an international brand which aimed at establishing home-grown Munchys as a global brand in line with its new business directives of aggressively expanding into foreign markets. Besides that they also plan to increase their export sales by 25% to RM50mil in year 2010 and the company is heading towards a new business direction for further market expansion. Munchy Food maintains its competitiveness through endless upgrading of its operations, marketing, sales and distribution, research and development, and most importantly, capital-intensive investments. Most of these heavy investments derive from world-class machinery and automation, computerization, and ERP engagement for its management. 3.2 Benchmarking analysis Benchmarking analysis is an analysis contributes lessons are learned. This analysis is a process of continual improvement which helps a company who is still growing to identify their trouble spots and provides a systematic approach to improving production efficiency and profitability. Nestle is the worlds largest food and beverage company which leading in Nutrition, Health and Wellness and they employs over a quarter of a million workers. Compare with Munchys, Nestle strategy is based on a broad range which the company overcome cultural barriers and customer resentments to foreign brands by purchases local brand names which the consumer is accustomed to. After these niches of basic food supply are filled Nestle moves on into the more upscale segments such as chocolate, soft drinks and the like. Their strategy is to establish a basis and then expand into more niches as demand rises. Connected to the rising demand is the rising income level as the population can afford to spend more money on food products. As mentioned in the book, Nestle provides about 8500 brand names, but only 750 of them are registered in more than one country and only 80 are registered in more than ten countries. Many household names such as Nescafe, KitKat and Nesquik were Nestle produces and some other brands are also well known by consumers just they might not have realized that they were Nestle products. In 2002 Nestle had a sales turnover of over  £38.3 billion on which it made a net profit of over  £3.2 billion. The majority of this profit was re-invested in the business whilst the remainder was paid out to shareholders in dividends. Munchys put more effort in RD on their wrapping and brand-building. They have spending close to RM4 million on branding and ads every year and this budget is increasing. Besides that, the company also invested RM10 million to buy packaging machines from Japan. Munchys always thinking about how to make their product become more innovative, but what they done is just put effort on the wrapping of their product but not in the flavor and the varieties of the product. Munchys should have a broad range to improve their performance in production efficiency and profitability. 4.0 Strategy Formulation Strategy formulation is the second phase in the strategic management process which produces a clear set of recommendations and supporting justification that revises as necessary the mission and objectives of the organization, and supplies the strategies for accomplishing them. Strategy formulation is the process of planning strategies such as corporate strategies and business strategies. Sometimes it is useful to think of corporate-level strategies as where to compete and the business-level strategies as how to compete in those areas.Strategy formulation includes the planning and decision making that lead to the establishment of the firms goal and the development of a specific strategic plan by assessing the external environment and internal problem and integrate the result into goals and strategy. 4.1 Corporate Strategic A corporate strategy depicts the corporate cultures perception of progress and growth. Besides that, this strategy is comprises a directional strategy through a corporate vision and a mission statement. One of the most important roles of this strategy is to define a companys domain of activity through selection of business areas in which the companys domain of activity through selection of business areas in which the company will compete. Portfolio analysis is an analysis which combines internal and external factors and could be dealt with in the discussion of strategy in a company. Besides that, portfolio analysis is an enterprise strategy development tool based primarily on the market share of business and the growth of market in which company business exists. Munchys boasts a great range of portfolio that includes biscuits, wafers and wafer sticks. In order to achieve the best product quality, Munchys has invested in fully-integrated conveyer system to state-of-the-art warehouses for its commitment to have facilities of the highest quality. This includes two wafer plants with the capacity to manufacture up to 740 tonnes per month, four biscuit plants which can produce up to 3,400 tonnes per month, and four wafer-stick machines with 16 production lines that have the capacity to produce up to 250 tonnes per month. These manufacture enable Munchys maximize their production and now reach the capacity of 5,000 tonnes up wards per month. Few years ago, Munchys have the launch their new product, new Munchys Mini crackers and it affect the company in expecting export sales from RM90mil to RM100mil and a total revenue of over RM300mil, against RM250mil. In fact of this, Munchys had invested about RM75mil in new equipment in two years before launching this product and it resulted in the production of the new Munchys Mini crackers. 4.2 Business Strategic Business-level strategy formulation pertains to domain direction and navigation, or how business should compete in the areas they have selected. Low-cost provider strategy is using by a company which securing a competitive advantage by serving a lower price than rival competitors. This is a strategy is an integrated of actions taken to produce goods or services with features that are acceptable by customers at the lowest cost compare to the competitors which just with features that are acceptable to customers. This strategy maintain present price, be content with present market share, and use lower-cost edge to earn a higher profit margin on each unit sold, thereby increasing total profits. Munchys mission is to bring joy and add flavor to every occasion with their high quality, affordable fun-eating snacks. Munchys make an achievement in low overall cost which by manufacturing nutritional biscuits in convenient packets as well as coated and cube wafers at lower prices than rivals. The products that Munchys produce are currently include approximately of the consumers across all segments like kids, teenagers, and adults. So t hat Munchys product is offering the buyers consider essential with their various types of product. Differentiation Strategy is an Action which set an acceptable cost that let customers perceives the different on the produce goods or services. The objective of this strategy is to affect buyers to prefer Munchys product or service over brand of rivals. On the other way, it means that a company has to take an initiative action such as creative idea on what is important to customer. With the constant line-up of new products and product innovation constantly introduced to the market, Munchys has become synonymous with innovation. Most recently Munchys was launched in response to the current trend and desire for healthy snacks. This kind of healthy snack filled with healthy and scrumptious fruit, oats, and more, the Oat Krunch makes a delectable, healthy biscuit that one will reach out for anytime of the day. In the second quarter of 2009, Munchys launched the irresistible Captain Munch which aimed their targeted at teenagers and kids. This product is enriched with Energy Plus that cont ains Vitamins B1, B2, B3, B6 and B12. This makes Captain Munch a source of vitamin and nutrition, as well as the perfect nutritious health snack solution for smart and active kids and teens. These recent additions products, Oat Krunch and Captain Munch have been reinforce Munchys commitment to providing more great-tasting snacks that help consumers strike a healthy balance in their daily lives. With their product which differentiating in features cause their rivals not easily to copy or matched. So, it may cause the buyers to prefer Munchys product or service over brand than rivals. Best-cost provider strategy is a combination of a strategic which emphasis on low-cost strategy and differentiation strategy. In this strategy, company must make an upscale product at a lower cost to prove the customer that its benefit for the value. It works on deliver comparable features at a lower price than rivals or matches rivals on prices and provides better features. Munchys brand mission is to produce all kinds of fun-eating snacks for every home all over the world. Presently, its strength lies in its high quality and diverse product range which Coupled with marketing strategies like manufacturing nutritional biscuits in convenient packets as well as coated and cube wafers at lower prices than competitors. Munchys Food also aims to produce more quality products on par with international brands but reflecting a typical Malaysian identity. Besides selling products at lower prices, Munchys always ensure that its products always in good quality, Munchys Quality Assurance and Qua lity Control Department ensures that all production procedures that are in place are constantly adhered to. According to the international standards set by the many regulatory boards from which Munchys has received official certification. With their good-to-excellent performance at a lower cost than rivals, they may affect consumers who are sensitive to price and value. 5.0 Strategy implementation Strategy implementation is the most important and most difficult part of the strategic management process which requires the organizations employees and managers at all levels to turn strategies into action. Actually, strategy formulation is described what a company going to do but strategy implementation is doing it. A successful strategy implementation requires support, discipline, motivation, and hard work from all managers and employees. In the aspect of management issues, Munchys has its own policies to operate on Munchys daily operation. Munchys prefer to focus on company and product development which boast a great range on produce its products with world class quality and build a long term brand. To produce the high quality product, Munchys has invested in full-integrated conveyer system to state-of-the-art warehouse which have two wafer plants, four biscuit plants and four wafer-stick machines with 16 production lines. With these systems, Munchys can have maximum production c apacity of 5000 tonnes upwards per month. To keeping up its standing in Malaysia most innovative biscuit brand, Munchys always looking at potential new products and innovations. Although Munchys has already a strong presence in Malaysia, it still continues to raise the bar by constantly strengthening their product appeal and market network in Asia and around the world. Besides that, Munchys believes in strong and effective in brand building, and achieves this through its strategic consumer-led promotions. To achieve this, Munchys is regularly brand-building through their numerous innovations and new products. One of the Munchys key on drivers in brand building is its active in sponsorship role. Munchys is a big player and firm believer in sponsorship and now being the proud sponsor of major concerts organized by top concert and event organizers, television and radio stations. Before this, Munchys has sponsored the Miss Chinese Cosmos Southeast Asia Pageant with created its very own title Miss Munchys Fun Fit. The title is in line with the launch of its new health range of product, Oat Krunch. Nowadays, sponsorships help Munchys increased in its mileage and the brand image is easily recognizable as one that offers high quality products. To ensure consumer can taste its keep supporting Munchys high quality products, Munchys Quality Assurance and Quality Control Department played an important role. This department ensures that all the production procedures that are in place are constantly adhered to the international standards set by the many regulatory boards from which Munchys has received official. The department is function in three categories which is in-process quality control, incoming control and laboratories. In-Process Quality Control is used on monitoring the product quality parameters at various processing stages from raw material until finished goods. Incoming Control is to monitoring of raw material and packaging at the entry level. The third category is the Laboratories and this category is divided to 2 part which is Microbiology Laboratory that responsibility on analyze and minimize microbiology contamination of products, processing lines, operators and general environment, thus ensuring the products a re free from harmful bacteria contamination. General Laboratory is responsibility to ensure that all the products meet legislative requirements, and are up to its consumers expectations. Munchys today boasts state-of-the-art manufacturing and warehousing facilities which cover more than 400,000 square feet in Batu Pahat, Johor, Malaysia. Besides that, Munchys products can be found in approximately 60 countries around the world. In fact of this, MunchWorld Marketing Sdn Bhd which set up in 1996 was played an important role as the marketing arm of all Munchys products. Munchys vantage point was its in-depth know-how into the successful marketing of fast-moving consumer goods or FMCGs, both locally and internationally. Munchys marketing prowess was proven through its own well-known, established and popular products among consumers. Besides that, MunchWorld was able to impart invaluable insights into product development, having grown Munchys from scratch with our endless pool of resources and knowledge. This made us feel it was time to share our skills and expertise with other reputable brands that understood the potential and value of good marketeering. To strengthening their product appeal and market from rivals, Munchys products always attract consumers across all segments such as kids, teenagers, adults. For example, Munchys launched the irresistible Captain Munch which aimed their targeted at teenagers and kids. This product is enriched with source of vitamin and nutrition as well as the perfect nutritious health snack solution for smart and active kids and teens. These products have been reinforce Munchys commitment to providing more great-tasting snacks that help consumers strike a healthy balance in their daily lives. 6.0 Conclusion The strategy used by Munchys make the company become stronger and stronger. The product their product are aimed on the teenagers and kids which enrich with health sources, and halal which mean the products are available to Islamic. Their RD which specifically focuses on new potential products and innovations will ensure the company always stays at the forefront of innovation. Every new products come out from Munchys are always supported by their chocolate lover. The main reason why the customers always supporting their product is Munchys always emphasize on using the high quality ingredient to process the high quality product. The effort on using the high quality ingredient on process the high quality product ensures Munchys become successful. Referencing: http://www.munchys.com/MY/html/history.aspx http://www.1000ventures.com/business_guide/strategy_formulation.html http://www.munchys.com/MY/main.aspx http://www.batupahat.org/?p=942 http://www.nestle.com/AllAbout/AllAboutNestle.htm Author by CATHY A.ENZ, Hospitality Strategic Management (concept and cases), second edition, page 18. Author by Richard L. Daft, Patricia Lane, Management, page 191.

John Wayne Gacy Essay -- essays research papers

John Wayne Gacy was born in Chicago, Illinois on March 17 1942. Gacy had an uneventful childhood up until the age of eleven. While out playing he had been struck on the head by a swing. Subsequently he suffered fainting fits for many years. Gacy graduated from business school and went on to work as a shoe salesman for the Nunn Bush shoe company. Gacy met and then married work colleague Marilynn Myres in 1964. The marriage ended when Gacy was imprisoned for ten years at a correctional institute in Waterloo, Iowa for various sex and violent crimes against young men. In 1971 Gacy was arrested again for trying to rape a teenage boy. John Wayne Gacy was married for the second time in 1972 to Carol Hoff. He set up a business as a renovation contractor at this time. This marriage also ended partly because Carol was frightened of he husband's temper. Despite all this Gacy worked very hard at trying to be liked. He was an enthusiastic member of the Junior Chamber of Commerce as "Pogo the Clown" a children's entertainer. Gacy would use his contracting business to attract young men eager for work, many of whom were subjected to rape. Thirty-three of who lost their lives. At nine o'clock on the evening of 11 December 1978, fifteen year old Robert Piest went to a chemist's shop in his home town of Des Plaines, Illinois. He was going to see a building contractor who was working in the shop about a holiday job. Robert Piest was supposed to go straight home, where his family was holding a birthday party for his mother. When Robert had not arrived home by 11:30pm, his family contacted the police. Police investigating the case learned that the contractor hired by the shop was in fact John Wayne Gacy a name not unfamiliar to them. Gacy had been reported earlier in the year by a 27-year-old man named Jeffery Rignall. According to Mr. Rignall's story, a plump man with a flashy car had approached him. The man invited him to join him in the vehicle to smoke some marijuana. Once in the car the man pushed chloroform soaked handkerchief into Rignall's face and drove him, unconscious, to a house where he was beaten with whips and raped. Rignall regained consciousness then next morning where he had been dumped in Lincoln Park. In lieu of the fact that Rignall could not give them much information, the Police were unable to be of much help. In fact even wh... ...covered in the Illinois River. His body had supposedly been lodged somewhere along the river making it difficult to find his body. However, strong winds must have dislodged the corpse and carried it to the locks at Dresden Dam where it was eventually discovered. Autopsy reports on Piest determined that he had suffocated from paper towels being lodged down his throat. The family soon after filed a $85-million suit against Gacy for murder and the Iowa Board of Parole, the Department of Corrections and the Chicago Police Department for negligence. Police investigators continued to match dental records and other clues to help identify the remaining victims who were found on Gacy’s property. All but nine of the victims were finally identified. Gacy made three confessions, but declined to testify at his trial for murder. The Jury who tried him were told by a psychiatrist that Gacy was suffering from a personality disorder that did not amount to insanity. Seeing this, on the 13 March 1980, Gacy was sentenced to life imprisonment, but this was changed to a death sentence. Just after midnight on 10 May 1994 Gacy was executed by lethal injection at Stateville prison in Joilet, Illinois.

Loneliness In Of Mice And Men Essay -- English Literature

Loneliness In Of Mice And Men John Steinbeck’s Of Mice & Men: Loneliness ========================================== Loneliness is a state of being alone in sadness, resulting from being isolated or abandoned. As I understand it, loneliness is when a person has no one to talk to, no one to confide in, nor anyone to keep companionship with. Loneliness also makes a person slip into a desolate state, which they try to conceal under a tough image, and is an emotion even the strongest cannot avoid. In his novel, Of Mice and Men, John Steinbeck deals with loneliness by looking for comfort in a friend, but settling for the attentive ear of a stranger. Although they seem at ease and friendly on the surface, a deep sense of loneliness lingers in the hearts of Crooks, George, and Curley's wife, to which they are desperate to find an escape from to cope with their seclusion from the rest of society. Crooks, a lively, sharp-witted, black stablehand, who takes his name from his crooked back, leads a lonely life. He lives according to the rule that no black man is allowed to enter a white man's home. Crooks’ loneliness is a result of rejection from everyone else on the ranch. He is forced to live alone in a barn, where he lives his life in isolation because of his colour, which was an issue in those days. When Lennie visits him in the room, Crooks' reactions reveal the fact that he is lonely. As a black man with a physical handicap, Crooks is forced to live on the border of ranch life. He is not even allowed to enter the white men's bunkhouse, or join them in a game of cards. His resentment typically comes out through his bitter, sad, and touching vulnerability, as he tells Lennie: â€Å"†¦A guy needs somebody to be nea... ...ch seems to disappear when narrating the story of the farm to Lennie. Curley's wife's loneliness is covered behind the mask of a portrayed prostitute, but the mask falls off during her conversations with strangers, including Lennie. I think John Steinbeck's message about loneliness and people's attempts to overcome loneliness in the novel is to reveal to us the nature of human's true existence. One cannot escape from being lonely, and the characters' attempts to overcome their loneliness is to seek the desire and comfort of a friend, but settle for the attentive ear of a stranger. I feel that Steinbeck is not completely successful in delivering his message across because for a full realization, one has to dig deep into the story, as well as place themselves in the shoes of a character to emphasize with, as well as relate to them and perceive their misery.

Essay --

Romanticism is a type of literature that focuses on the author’s imagination. Many authors have helped define the Romantic genre of literature with one of a kind archetypes and elements that can be perfectly executed by one of a kind authors. Romanticism brings peoples imagination and dreams to life for all others to read and appreciate. There have been countless authors who have devoted their entire careers to writing literature that has defined this genre. Mary Shelley is one author that has written a story that has made a lasting impact through generations. Her story Frankenstein has been an important cornerstone in Romantic literature ever since it was written. The story contains many Romantic elements that are defined uniquely such as childhood, nature, and a story about the individual. This story has a big stress on childhood from the very beginning. The novel Frankenstein begins with the protagonist Victor Frankenstein as a child. During the first few chapters the novel discusses the events in his childhood such as his family adopting Elizabeth and shows how his studies as a child shape the person he was to become. â€Å"Elizabeth was of a calmer and more concentrated disposition† (Shelley). Frankenstein uses lines like this one throughout the first few chapters to foreshadow to the reader the type of people that the characters were destined to be from childhood. This shows the innocent and everlasting kindness and gentleness of Elizabeth, the craving for knowledge that powered Victor, and the loyalty of Henry. For the reader, being able to read how the characters begin the story as young children that grow into adults as you read the story, helps builds a strong emotional relationship between the characters and reader. Besides... ...uld contain a huge void that would be hard for someone else to fill. Shelley is one of the authors that mastered the Romantic genre in a way that nobody else can execute. She showed that writing Romantic literature was something entertaining to the audience. She gave people stories that could take them away from their normal daily lives and put them in a fantasyland that was extravagantly laid out for the reader. She made characters that the reader were able to connect too emotionally and care for, making them want to read more. Shelley showed her mastery in Frankenstein with helping the reader connect through childhood, create a landscape with nature, and keeping suspense by only letting the reader know what was going on from the individual, and not giving away too much information. She was a one of a kind author whose impact on literature will never be forgotten.

Problems Facing University Students

Financial Challenges Facing University Students FA120-Skills to succeed Group Creative problem solving assignment By Megan Sweeney (12522637) Anna Heffernan (12743239) And Ross Swords (12344681) Word Count: two thousand two hundred and eight. Contents Page Section 1: Summary | Pages 3 and 4| Section II: Details of the students challenge| Pages 4 and 5| Section III: Findings| Pages 5 and 6| Section IV: Possible solutions and recommendations| Page 6| Section V: Recommendations| Page 6| References | Page 7| Section I: Summary. IntroductionAfter discussing our assignment as a group we recognised what problems and challenges may be relevant to university students. We felt the topic most relevant to ourselves as a group and the majority of university students, was the financial challenges faced by university students. For most students as they start university it is their first time living away from home which can create problems for both the student and their families financially with bot h the high costs involved in sending a student to university and the difficulties the student faces themselves in budgeting their weekly allowance.Many students struggle to prioritise their money correctly and often spend more money on socialising weekly than on the essentials such as food, and often there is little or no money left to put towards books and curriculum based activities. For the purpose of this assignment and to help ourselves as students manage our money in a more economical manner we have researched the problems and solutions which occur in the everyday life of an Irish university student. Statement of the student challengeThe financial difficulties faced by a university scholar are brought about by the high cost of tuition fees which are constantly increasing as a result of poor management by our previous governments, the high cost of student accommodation for those students who have to move away from home to attend university. Students living away from home also h ave to have a weekly allowance for essentials, heating and electricity bills, and college equipment such as books, calculators, laptops and stationary.Many students that don’t move away from home face high travelling expenses each week with the cost of public transport constantly increasing as the government hike up the prices in order to attempt to get the country out of recession. The significance of the challenge We chose this topic as there is currently so much hype being created in regard to the economic crisis and the effect it is having on the cost of attending university which is creating huge financial problems for students and their families attending university.The government has majorly reduced the amount of financial aid available for undergraduates, many students no longer receive the grant payment which has resulted in many young people not being able to finish their degrees. Due to the current economic climate students are rarely able to secure a stable job so that they can support themselves, which forces many students to be dependent on government allowances. Again this causes financial problems for the students as the allowances available to third level students are minimal.We wanted to explore the different supports available to university students to help students overcome their financial problem’s. Section II: Details of the student challenge. For each student attending university the average cost can vary significantly depending on whether they have to move away from home, travel a long distance to college daily or travel a short distance from their home to college each day. The following table gives an indication of the monthly cost of living in Galway as a student. These costs are an approximation only as monthly costs will depend on each person’s individual needs (NUIG Student-Life 2012).Accommodation| 340 euro| Food| 260 euro| Books/academic requisites| 60 euro| Clothes, laundry| 60 euro| Recreation| 180 euro| Ot her| 100 euro| Monthly Total| 1,000 euro| Nine month academic year| 9,000 euro| As the average Irish yearly income is â‚ ¬24,316 (Irishexaminer. ie), the cost of sending a student to university is over one third of the average Irish yearly wage and this is before the tuition fees have to be paid for which in itself presents a huge challenge for a family to be able to support both the student and the rest of the family.With this in mind most students need as much help as possible to budget, manage their money and make use of the discount and financial schemes available through the university. The university provides a range of support systems to help students overcome financial challenges they may face. For students living away from home medical expenses can be a huge challenge as unfamiliar doctors can overcharge students, students can also be faced with the difficulty of budgeting for medical expenses as students can’t predict when they will become ill.The National Univer sity of Ireland Galway has relived thousands of students from the worries and challenges they face in regard to medical fees as they provide a full medical centre with Doctors, Nurses and physiatrist free of charge to all students in the university. â€Å"Only 10% of the student body is entitled to a medical card (GMS). A medical card entitles the holder to free consultation, free prescriptions and free hospitalisation. Students are not entitled to a medical card unless their parents have such a card or unless they are on a grant. Mature students i. e. ver 24 years of age could be entitled to a card in their own right depending on income. † (NUIG Student-Life 2012). This is a brilliant support service available to all NUI Galway students no matter what financial background the student comes from. The monthly food expense for a university student is two hundred and sixty euro, this can vary hugely depending on whether the student is economical about where they shop and what th ey buy. Students can greatly reduce their shopping expenses by shopping in the cheaper supermarkets such as Lidl, Aldi and Tesco rather than smaller convenience stores which tend be much more expensive. And the key to good shopping is lists – lists you stick to. Never shop hungry and don’t rely on the big name retailers that your folks have shopped in for years, turn your back on brand names and only buy own-brand foods – you will save yourself a packet. A litre of milk from Avonmore costs â‚ ¬1. 14, a litre of Tesco milk costs 75 cents. † (The Irish Times, September 2012). The University also provides hot meals daily at only â‚ ¬5 in the university restaurant which can be very helpful to student who do not have time to return home to eat during the day.As well as the academic side to college students also have to have a social life, which can become very costly and makes it harder for students to budget their money. The titanium ents company put a d iscount card scheme in place to help students save money while socialising. â€Å"Galway Student Discount Card is estimated to save an average student â‚ ¬400 per semester / an average of â‚ ¬5 per night out ( â‚ ¬2 off a taxi, â‚ ¬2 off club admin & â‚ ¬1 off food after). On sale for only â‚ ¬4† (Titaniuments. ie). This is a huge help to students in budgeting for the social side to their time in university.A huge financial problem faced by students is the price of textbooks required for the curriculum many of these books can cost up to â‚ ¬100 each and have to be bought brand new as they all contain individual access codes for course work that has to be completed online. Many students have to buy up to five books per semester which is a huge expense and creates a serious financial problem for students. Bank of Ireland is currently putting schemes in place to allow students to take out loans to pay for books. Section III: Findings Currently at NUI Galway there are several procedures in place to help students live off a small budget and save money.Loyalty cards such as the student union card can get students various discounts at numerous shops and restaurants run by the students union throughout the college. The student union card can also earn students money, by purchasing items at any shop or restaurant run by the SU. Students can build up credit over-time on their purchases and eventually this credit can be turned into cash. NUI Galway also promote the titanium ents card which promotes social discounts for students such as free entry into nightclubs, discounts on taxis, and discounts on fast-food take aways.In University College Dublin they offer many scholarships to students which can be found on www. smurfitschool. ie which is the business school in UCD. An example of one is ‘GMAT MBA Scholarship’ ‘Open to all applicants scoring above 700 on the GMAT. All scholarship applicants must already have been admitted to (have applied for, been interviewed and offered a place on) the full-time MBA Programme before they can be considered for any of the above scholarships. Open to Irish residents and international applicants. ( UCD-2012) in a university aboard such as Harvard, the offer financial aid also such as ‘Harvard College has provided assistance to students who need help in meeting their education expenses for over 350 years, enabling us to seek out the most outstanding scholars in the world and open our doors to students of exceptional ability and promise, regardless of their financial circumstances. Over 60% of undergraduates will receive an estimated $172 million in need-based Harvard Scholarship aid in 2012-13.Just in the past five years we have increased our financial aid by over 70 percent, enhancing our program to ensure the affordability of a Harvard education even in these challenging economic times. We understand that the thought of financing four years of college can be a d aunting prospect for anyone, and we are eager to help you and your family understand our financial aid programs and assist you in finding ways to meet your college costs’ (Harvard-2012) Section IV: Possible solutions and recommendations.After applying the creative problem solving process we as a group began to look at the different ways a problem such as this can be solved. While looking for solutions to the problem we researched numerous websites that offered advice on how students can budget and save money. (Schweitzer 2010) suggests numerous ways for students to save money such as avoiding impulse buying, hiding the credit card and finding bargains. While undertaking more xtensive research into the problem and after reading several articles, another common suggestion on how to budget efficiently was to invest in a student travel card; which can give up to a third off the price of all rail prices (Warnes 2012). Another area that may affect a student budget is clothes shoppi ng. Many students can be fooled into buying expensive brand name clothes that they can’t afford. (Waldron 2012) suggests students should shop at local charity shops such as Oxfam where they can buy a lot of these brand name clothes second hand for a fraction of the price.Although many students may not have been accustomed to shopping in charity shops previously Waldron insists the value for students in this market is a â€Å"no brainer†. Section 5: Recommendations After investigating the possible solutions we as a group discussed the various methods NUIG could undertake to help students tackle their budgeting issues. We looked at the offers that are already available to help students save money such as the SU loyalty card, the titanium ents card, the second hand book scheme etc. We then held numerous brain storming session where we thought of ideas that might help solve the problem.We considered various ideas such as opening a second hand clothes shop in the college or a grocery store where students could buy their weekly shopping at a discount price. We then concluded that projects such as this would incur too much of an expense that may not be affordable for the college. Another idea that we came up with was a student discount guide that could be published by the students union on a weekly basis containing information on where students could find the best discounts in Galway on a weekly basis.The leaflet could advise students on what supermarkets have the best food discounts on this week, what nightclubs are offering discounts, how students could save money on travel etc. Referencing nui galway. (2012). financial matters. Available: http://www. nuigalway. ie/student-life/financial-matters/. Last accessed 14th nov 2012. Titanium Ents and subsidiary groups. (2012). Galway Student Discount Card. Available: http://www. titaniuments. com/galway-student-discount-card/. Last accessed 14th nov 2012 . C O'Doherty. (2012). Dublin â‚ ¬3k ahead of avera ge income. Available: http://www. rishexaminer. com/ireland/dublin-3k-ahead-of-average-income-181644. html. Last accessed 14th nov 2012. nui galway. (2012). medical services. Available: http://www. nuigalway. ie/student-life/student-support/medical-services. html. Last accessed 14th nov 2012 . C Pope. (2012). Cheap and cheerful way through college. Available: http://www. irishtimes. com/newspaper/finance/2012/0911/1224323839157. html. Last accessed 14th nov 2012 . UCD. (2012). Scolarships. Available: http://www. smurfitschool. ie/scholarships/gmatmbascholarships/. Last accessed 14th nov 2012 . Harvard University. (2012).WELCOME TO THE HARVARD COLLEGE FINANCIAL AID OFFICE. Available: http://www. fao. fas. harvard. edu/icb/icb. do. Last accessed 14th nov 2012. Schweitzer. (2010). 10 Easy Ways for Students to Save Money. About. com Guide. 10 (4), 33-34. Warnes, S. (2012). Top 10 brilliant student money saving tips. Available: http://www. neilstoolbox. com/bibliography-creator/reference -website. htm. Last accessed 10/Nov/2012. Waldron,C. (2012). Charity shops: getting too big for their Pradas?. Available: http://campus. ie/college-life/money-matters/charity-shops-getting-too-big-for-their-pradas. Last accessed 12/nov/2012.

Panama Canal Expansion

Expansion of the Panama Canal & Heartland Barge The Panama Canal enables the ships sailing from the Pacific Ocean to the Atlantic Ocean (and vice versa) to save time and fuel by avoiding the travel around the tip of South America. The savings in time equal half of the time previously taken by ships to do the same. The size of ships that are used in shipping containers has drastically increased due to the container revolution.To enable the new and bigger ships such as Maersk Triple E Class to pass through and to increase the toll that is collected on every ship, the Panama Canal Authority has decided to undertake the expansion of the Panama canal. This event has impacted world trade and companies all over the world. As of now, the New Panamax ships with drafts of 45 ft delivering containers from Asia to the east coast of the US cannot pass through the Panama canal and therefore dock at the ports of Los Angeles and Seattle on the west coast and transfer their containers to railroad com panies to transport the goods to the east coast.But when the expected expansion commences in 2015, some of these ships would be using the canal to directly reach the east coast of the US To get a piece of this action, several ports on the east coast have undergone upgrade and increased their depth to at least 50 ft to allow the New Panamax ships to reach their container port facilities. Although the U. S. Army Corps of Engineers (USACE) itself has indicated that deepening isn’t expected to increase the volume of container traffic coming through ports, the reality is that not deepening could cost the port a significant amount of volume, relegating it to â€Å"lower tier† port status.New Panamax vessels today make up 16% of the world’s container fleet, but account for 45% of the fleet’s capacity,†Ã‚  By 2030, new Panamax vessels will account for 62% of the capacity of the world's container fleet. The potential transportation cost saving of using new P anamax size vessels to ship agricultural products to Asia, through the Panama Canal may lead to an increase in grain traffic on the Mississippi River for export at Gulf ports. The shipping draft on the lower Mississippi River has enabled operations to 45 feet.However, this requires constant monitoring due to seasonal changes in siltation loads from flooding and deposits. This prompts the need for maintenance dredging to attain operational drafts. But the limitations on the USACE's federal allocated resources is limiting their capacity to properly maintain the 12,000 miles of waterways and 240 locks in the US. Heartland Barge (HB) highly values the ability to match the volume of goods flowing upstream of the Mississippi river system, with the volume of goods flowing downstream, thereby minimizing empty back haul movements.The goods moving downstream are grains mostly Soybean and Corn headed for China and other Asian countries. The goods moving upstream are fertilizers, petroleum prod ucts, aggregates namely stone and sand, and road salt for the Midwest coming from salt mines on an island in Louisiana that is not accessible by truck or rail. With the new Panamax vessels, the opportunities for HB will be varied, such as increased loadings per vessel, the potential for larger vessel sizes to be used, decreased canal transit time, and the potential for lower transport costs overall.HB owns 275 covered and open hopper barges, most of them manufactured post 2004 making its fleet relatively younger than the average barge in the US, and has three lines of business. Investment in newer and bigger barges will give HB a competitive advantage in its Barge line services business. Most barges in the US are above 25 years old and therefore the potential demand for new barge is high. The return on barge investment is 10-12% and has considerable tax benefits, making it an attractive investment option for individuals and companies, where they buy barges as an asset and let HB tak e care of the Barge Management.The Leasing and Sales division would benefit from the sales of new barges and helping investors buy or lease the barges. The Marine Consulting division will see a rise in business as more businesses would want to take advantage of HB's end to end solutions for barge transport. Hiring MBAs as consultants and training them would give HB leverage when the demand for HB's consulting division increases in the near future. Railroads cannot economically compete with barges on many counts.Barge transport costs 40-80 cents a bushel of grain whereas railroads cost an average of $1. 2 a bushel. The rail system does not have unlimited capacity on the network, which results in competitive pressure to operate over finite capacity. Because grain moves are more seasonal, railroads prefer to move consistently transported goods to better allocate resources. The heavier rail cars for transporting big sized containers can often operate over the lighter capacity rails but only at significantly slower speeds.The threat of transit tolls in the Panama canal increasing 47% over the toll structure of the past 5 years can be countered by loading a vessel to a 45 ft draft, compared to the 39. 5 ft draft of the current Panamax vessels. The river navigation system is old and aging, and for improvement projects that have been authorized, funding has not been appropriated. Improvements needed include dredging, highly efficient cranes, improving barge loading berths, automated gates, applied tracking of equipment through optical character recognition and GPS.Waterways Council Inc. is an organization lobbying the government for these reforms through the WRDA – Water Resource Development and RIVER – Reinvest in Vital Economic Rivers and Water bodies Acts. HB should support this organization in its efforts. References: http://waterwayscouncil. org/key-issues/improve-system-reliability-through-infrastructure-maintenance/ http://waterwayscouncil. org/la test-news/improve-reliability-news/harbor-deepening-what-happens-now/ http://www. usace. army. il/Media/NewsReleases/tabid/203/Article/2000/us-army-corps-of-engineers-releases-the-us-port-and-inland-waterways-modernizat. aspx http://southeastfarmpress. com/soybeans/panama-canal-expansion-could-boost-us-soybean-industry http://www. unitedsoybean. org/wp-content/uploads/Panama-Canal-Expansion-Impact-on-US-Agriculture. pdf http://www. npr. org/2013/01/10/168950808/mississippi-blues-when-the-river-doesnt-run http://www. engineeringnews. co. za/article/panama-canal-expansion-reaches-halfway-mark-as-waterway-bids-to-sustain-position-as-key-trade-gateway-2013-03-15