The Goal Essay Example For Students

The Goal Essay PrecisThe Goal by Goldratt is a book about the Theory of Constraints, TOC. It is about the behavior of manufacturing facilities. It deals with bottlenecks that are the manufacturing constraints and the variability that creates them. The book states that a manufacturing organization cannot run at 100% and that you cannot balance the assembly line. It seems that your efforts for efficiency must be focused on the worst bottleneck. The loss caused by a bottleneck is a loss for the entire system. Focusing on improving the throughput of the bottleneck increases the flow for the entire manufacturing line. If there is a bottleneck, then all other areas are capable of excess capacity. Dont try to improve non-bottlenecks, as it is a waste of time and effort. The TOC integrates into Total Quality Management, TQM, except for one main theory. TQM supports continuous improvement of the system while the TOC does not support continuous improvement of every process. The TOC says that we must focus on the constraint. We will write a custom essay on The Goal specifically for you for only $16.38 $13.9/page Order now Q: What is the Theory of Constraints about? A: Developed by Dr. Eliyahu M. Goldratt, TOC states that any system has at least one constraint. Otherwise, it would be generating an infinite amount of output. Bearing this in mind, TOC is easily explained through use of the chain analogy a chain is only as strong as its weakest link. If we look upon our organization as a chain, where each department is a link in the chain, what constrains our organization from achieving its goal? Only through addressing the weakest link, the constraint, can substantial improvements be made. In other words, if the constraint dictates the pace of an organizations ability to achieve its goal, it makes sense that addressing the constraint will allow the organization to achieve a substantial rate of throughput faster. There are five steps in applying TOC: 1.Identify the systems constraints. Of necessity this included prioritization so that just the ones that really limit system progress toward the goal. 2.Decide how to exploit the systems constraints. Once we have decided how to manage the constraints within the system, how about the majority of the resources that are not constraints? The answer is that we manage them so that they just provide what is needed to match the output of the constrained resources. We NEVER let them supply more output than is needed because doing so moves us no closer to the goal. 3.Subordinate everything else to the above decision in Step 2. Since the constraints are keeping us from moving toward our goal, we apply all of the resources that we can to assist in breaking them. Constraints are not acts of God. In practically all cases their limiting impact can be reduced or eliminated. 4.Elevate the systems constraints. If we continue to work toward breaking a constraint (a lso called elevating a constraint) at some point the constraint will no longer be a constraint. The constraint will be broken. 5.If the constraint is broken, return to Step 1. When that happens, there will be another constraint, somewhere else in the system that is limiting progress to the goal. CritiqueTo analyze the process of improvement is to look at reality; think logically and precisely about what is going on around us. Eli Goldratt uses The Goal to explain how simple improvement can be. The message is delivered in a Socratic way. Socrates way of assisting people was spontaneous and specifically suited to the particular needs of the individual as he saw them. Socrates is famous for his method of asking questions in especially effective ways. He is very careful not to take for granted what the answers of the other person will be; but he always waits for the response and occasionally repeats a simple question, not to gain a contradiction, but so that the argument can move consec utively. He does not wish to get into a habit of anticipating the others thoughts, but prefers that the person develop his own views in his own way, whatever they may be. Therefore we have Jonah, the physicist who helps Alex Rogo, the plant manager at UniCo. Jonahs way of leading to the answers, his Socratic approach is very effective at peeling away the layers of common practice. Alex was born and raised in Bearington and is very proud to have come back home to work for one of the factories in his hometown. The plant is running but not turning a profit, therefore facing the threat of being closed. The book follows Alex and his team as they use principles such as benchmarking and the theory of constraints to transform their mediocre plant into a money making machine. Before this transformation, the division Vice President, Bill Peach, tells Alex that he has three months to turn the plant around. Now its time to sit back and analyze what Alex is or is not doing for his plant to make a change. The central premise of The Goal can best be summarized as CHANGE. I state this in contradiction to what many will believe is the real premise. It is easy to get a message of focus on whats important from the book. Most believe the story attempts to get readers to focus on making money. If you focus your activities only on those that make money and eliminate those activities that do not make money, you will eliminate waste and constraints. Another focus would be of constant improvement. Continuous improvement is seen throughout the book, when non-bottleneck machines seem to become new bottlenecks, but this really stuck out to me at the end when everything seems to be going smoothly only to find that more problems have come up. But neither of these focuses produces permanent results unless there is change. As you read the book, the constant theme that is replayed over and over is one of change. Previous assumptions must be changed to allow processes to be changed to allow in teractions to change. Yes, the chain analogy exists even in my description here as well as does the need to discover the core constraint. If the Union contract was the constraint that kept Bob from changing lunch hours so the set-up process on the NCX-10 could be changed so that smaller lots could be run so that increased throughput could occur, Rogo addressed it (the constraint) to accomplish the change. I use this as an example to show that change is the focus of the book. To further support my position, look at chapters 33 through 40. I dare you to try to count the number of times change appears. Additionally, look at the amount of times change is the subject of the sentence, paragraph, or chapter. Rogo had to change his paradigm of operations, then change his staffs, then change operations of the factory, then change his senior managements paradigm of success and profitability, then change his own paradigm again of how to perform his function once he moved up, and then he had to discover how to change his division for it to survive. Using the Theory of Constraints (TOC) and the Five Focusing Steps only facilitated Rogos being able to implement change. The book states that a manufacturing organization cannot run at 100% and that you cannot balance the assembly line. It seems that your efforts for efficiency must be focused on the worst bottleneck. The loss caused by a bottleneck is a loss for the entire system. Focusing on improving the throughput of the bottleneck increases the flow for the entire manufacturing line. If there is a bottleneck, then all other areas are capable of excess capacity. Dont try to improve non-bottlenecks, as it is a waste of time and effort. Finally, knowing how to think about things in terms of cause and effect was hammered home throughout the book. Theory of constraints says that by knowing how to think, we can better understand the environment around us and by having a better understanding we are then able to make improvements. The key lies in the ability to transform production from the prevailing cost-world mentality into the common sense approach of the throughput-world mentality. A shift in mentality is necessary in order to deduce the mandatory procedures. Goldratt also knew when he wrote the book that developing the ability to design and implement change was just as important. His appendix My Saga at the end of the book clearly addresses the need to create and implement change and the disastrous effects of improperly implemented change, even TOC. .u75d70dc43f61803ee77e556c1606b57b , .u75d70dc43f61803ee77e556c1606b57b .postImageUrl , .u75d70dc43f61803ee77e556c1606b57b .centered-text-area { min-height: 80px; position: relative; } .u75d70dc43f61803ee77e556c1606b57b , .u75d70dc43f61803ee77e556c1606b57b:hover , .u75d70dc43f61803ee77e556c1606b57b:visited , .u75d70dc43f61803ee77e556c1606b57b:active { border:0!important; } .u75d70dc43f61803ee77e556c1606b57b .clearfix:after { content: ""; display: table; clear: both; } .u75d70dc43f61803ee77e556c1606b57b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u75d70dc43f61803ee77e556c1606b57b:active , .u75d70dc43f61803ee77e556c1606b57b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u75d70dc43f61803ee77e556c1606b57b .centered-text-area { width: 100%; position: relative ; } .u75d70dc43f61803ee77e556c1606b57b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u75d70dc43f61803ee77e556c1606b57b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u75d70dc43f61803ee77e556c1606b57b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u75d70dc43f61803ee77e556c1606b57b:hover .ctaButton { background-color: #34495E!important; } .u75d70dc43f61803ee77e556c1606b57b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u75d70dc43f61803ee77e556c1606b57b .u75d70dc43f61803ee77e556c1606b57b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u75d70dc43f61803ee77e556c1606b57b:after { content: ""; display: block; clear: both; } READ: Lysistrata Analysis EssayIntegrationI work at Lucent Technologies Fiber Optic Cable Plant in Norcross We manufacture fiber used for phone lines, cable lines and several other uses. The fiber starts out as a preform where certain chemicals are added to the material to make it into fiber. Several departments handle the perform before it reaches Post Draw as fiber spun on a spool. Inspections are done numerous times to find scarring and impurities. When impurities are found the preform is rejected and not sent to Draw. Like everything in life some bad preform slips through to the next phase in the process. Thus resulting in bad fiber on the Rewind/Repair floor. I digress. Aft er the fiber is drawn and placed on 600K spools it is sent down to Rewind/Repair. We then rewind the fiber on smaller spools and send them to the Measurements department for testing. After testing is complete in four areas the fiber is sent back to the Rewind department to remove the bad fiber found during testing. The fiber is then sent back to measurements for further testing and if it passes the four test sets it goes to the cage as inventory. More times than many the fiber ends up back in rewind. A spool can start out with 75K meters on it and go back and forth from Measurements to Rewind until it is split up into several spools. When we get a spool with less than 5K meters on them the PTS systems has us run half and end up scrapping both the payout and takeup spools. I feel like this is a constraint because this spool may have gone to Measurements and back to Rewind four times only to be scrapped. This is a waste of time for the operator. Although it is a part of the process, I think spools with 5K or less of fiber on them should be automatically scrapped. There is not a instance where an order ever calls for 5K meters or less. Another example of a constraint in our department was with lunch and breaks. When I first came to the cable plant you took your breaks whenever you could within a specific window. Just as long as your machine was running and an operator on your line was to set it up if it went down, you could take your break at your convenience. A few months went by and new coaches were hired. They decided they wanted to closely monitor the operator to see when they took their breaks and for how long. The decision was made to stop the machines when you go on your break and/or lunch. The new coach obviously wanted to make a good impression and bring something new to the table. They changed our staggered breaks to scheduled breaks. The results after a few weeks showed production was down and efficiency was at a record low. It showed machines were not running at full capacity for a tour. Immediately their superiors decided we would go back to the staggered lunches and breaks. The downtime was then reduced and our departmental efficiency went up. They realized it was not as important to monitor the person, as it was to have the machine running. Now I know this does not stand up to the problems Alex and his staff faced with UniCo but this is what I face everyday. I found a case study that was used at the TOC World 2000 Seminar in St. Paul MN last year. I thought I would include it for your enjoyment

Claritas CFA Exam Essays

Claritas CFA Exam Essays Claritas CFA Exam Essay Claritas CFA Exam Essay PROFESSIONALISM AT EVERY LEVEL Among the countless finance degrees around the world, the Chartered Financial Analyst qualification has become the gold standard. Financial Times, 13 August 2010 Professionalism at Every Level the [emailprotected] charter Having the right employees in place is key to ensuring success. As the global marketplace becomes increasingly competitive, employers are using the CFA charter to identify the most qualified Job applicants and the most committed employees. The building blocks of the CFA charter are firmly grounded in the CFA Program curriculum, a comprehensive framework of concepts that CFA charterholders will use at all stages of their careers and in many areas of specialization. The curriculum evolves each year to include new tools, ideas, and concepts that reflect the dynamic and complex nature of the global finance profession. The custom curriculum is based on an extensive and ongoing global practice-analysis process that relies on input, discussions, surveys, and reviews from thousands of active practitioners and CFA charterholders. Charterholders stand out from the crowd because they have demonstrated that they have tenacity and are able to go through a rigorous program nd study hard: it shows a certain type of personality that definitely performs well. Peter Jakobus, CFA Senior Manager Ernst Young Frankfurt, GERMANY 2 www. cfainstitute. rg curriculum topic breakdown by exam level PORTFOLIO MANAGEMENT AND WEALTH PLANNING EQUITY INVESTMENTS FINANCIAL REPORTING AND ANALYSIS FIXED-INCOME INVESTMENTS ETHICAL AND PROFESSIONAL STANDARDS DERIVATIVES ALTERNATIVE INVESTMENTS QUANTITATIVE METHODS CORPORATE FINANCE ECONOMICS Level I Level II Level Ill Hong Kong, CHINA 3 Exceed Expectations Hire a CFA Charterholder Since its introduction, the Chartered Financial [emailprotected] (CFA) charter has become one of the most respected and recognized professional credentials in the world. Earning the CFA charter demonstrates a mastery of the analytic and decision-making skills needed in todays fast-evolving and competitive workplace. In addition, by pledging to uphold the CFA Institute Code of Ethics and Standards of Professional Conduct, CFA charterholders commit to the highest standards of professional excellence. The CFA designation is a mark of distinction that is globally recognized by employers as well as a host of other organizations. Regulatory bodies in many countries recognize he CFA designation as a proxy for meeting certain licensing requirements. More than 125 distinguished colleges and universities around the world have incorporated a majority of the CFA Program curriculum into their own courses. The CFA Program has been benchmarked as being comparable to masters degree levels in finance in the United Kingdom. Professional ethics is one of the most important traits that global employers look for when they are hiring. Dr. Bruce wonti Lee, CFA President and CEO Allianz Global Investors Korea Limited Seoul, SOUTH KOREA 4 5 access ability and experience The cfa charterholder A charterholder exhibits professional characteristics and career traits that meet employer needs, regardless of the specialization or field. CFA Institute has a variety of resources to assist interested employers with finding highly qualified candidates: A CFA charterholder is: Jobline: A targeted, online employment search tool for Job seekers and employers (www. fainstitute. org/HireCFA). Credible: Has demonstrated a mastery of a comprehensive body of knowledge, fulfilled four years of on-the-Job experience, and adheres to a code of ethics. Committed: Has dedicated 300 hours of study to ach of three levels of rigorous examinations. l Current: Has access to continuing education and lifelong learning resources. Connected: Is a member of a network of more than 100,000 investment professionals in more than 100 countries. Based on the Ju ne 2011 Post-Exam Candidate Survey. CFA Institute Research Challenge: As sponsors, employers gain access to the best and brightest university students competing in a global equity research challenge. Local Societies: CFA member societies support the mission of CFA Institute around the globe by maintaining Job boards, hosting networking events, and supporting continuing ducation. CFA charterholders are experienced, well-rounded, and versatile professionals, and the breadth of knowledge gained from completion of the CFA Program has applications across the investment industry and around the world. harterholder experience Portfolio Managers 22% charterholder occupations 5 Years or Less 24% 6-10 Years Research Analysts Chief Executives 11-15 years Consultants 16-20 years Risk Managers More than 20 Years 17% 29% Not Applicable 4% Relationship Managers, Sales Marketing Financial Advisers 7% Corporate Financial Analysts Investment Banking Analysts Other ex. rader, auditor, broker, academic charterholder Locale 2% 2011 candidate locale 65% North America Europe Asia Pacific Africa Middle East Latin America Caribbean 15% 33% 43% Data are based on self-reported demographic and employment data as of 1 August 2011. Percentages may not add to 100% due to rounding. www. cfainstitute. org 7 Promote Professional Excellence Encourage Enrollment and Support Candidates Both employers and employees recognize the value and benefits of the CFA designation. In addition to hiring charterholders, many firms encourage staff members to pursue the charter and support them in their studies. There is no one way to help candidates prepare for the CFA exams, and candidate management will differ across firms and business areas. As you create your employee development programs, you may find it helpful to know that some CFA candidates receive benefits from their employers. l Some of these benefits include: Paid study leave Reimbursement of enrollment, registration, and prep-provider fees Offer of a bonus payment for passing the exams and earning the charter Internal study groups Mentoring programs The person who interviewed me at my firm is a charterholder, and my direct boss is also a harterholder, so they know the effort that was put in, the knowledge gained, and the edge that it gives you. Rana Atallah, CFA Assistant Vice President, Asset Management National Bank of Kuwait Capital Kuwait City, KUWAIT Based on the June 2011 CFA Program Candidate Survey. 8 9 Daniel Gamba, CFA New York, UNITED STATES Salvador Avila 10 CFA Institute Global Association of Investment Professionals World economies and markets depend on widespread trust. This responsibility†the trust bestowed on investment professionals†informs the core of the CFA Institute organizational mission: To lead the investment rofession globally by setting the highest standards of ethics, education, and professional excellence. CFA Institute is a global, not-for-profit organization comprising the worlds largest association of investment professionals. With more than 100,000 members and many regional societies around the world, CFA Institute is dedicated to developing and promoting the highest educa- tional, ethical, and professional standards in the investment industry. In addition to the CFA designation, the educational and career resources offered by CFA Institute include the Certificate in Investment Performance Measurement ([emailprotected]) designation. The organization is also a leading voice on global issues of fairness, market efficiency, and investor protection. CFA Institute and its predecessor organizations have been setting standards of excellence for the investment industry since 1947. I have several employees who are now in the process of pursuing the CFA charter and we support that at BlackRock: we fund the CFA Program for employees interested in the challenge of earning it. Managing Director Head, Latin America and Iberia Business BlackRock, Inc. 11 Every year we see more and more firms demand he CFA charter or significant progress in the CFA Program. For more information, visit www. cfainstitute. org or e-mail [emailprotected] org. Sam Levine, CFA Executive Recruiter The Buttonwood Group, LLC Michigan, UNITED STATES CHARLOTTESVILLE LONDON 560 Ray C. Hunt Drive Charlottesville, Virginia 22903-2981 USA 800-247-8132 Phone (USA and CANADA) +1-434-951-5499 Phone (outside USA and CANADA) 7th Floor 131 Finsbury Pavement London EC2A INT, UNITED KINGDOM NEW YORK 477 Madison Avenue 21st floor New York, New York 10022 BRUSSELS Square de Mees 38/40 1000 Brussels, BELGIUM BUENOS AIRES Opening in 2012

Reading responese 4 Assignment Example | Topics and Well Written Essays - 500 words

Reading responese 4 - Assignment Example The first one is human egocentrism. In fact, it follows from the title of the article itself that one of the themes deals with this very issue. The author of the article is supposed to review the Maine Lobster Festival for Gourmet magazine and its target audience and, by this, promote and advertise the festival. However, it is not his main agenda. Instead of promoting the festival, the author discusses the cruel ways of cooking a lobster in minor details, such as a discussion of sensory neurons of these crustaceans. In this regard, Wallace refers to people’s reasoning that they have a right to eat lobsters because the latter are much more primitive creatures. In addition to this, the author of the piece touches upon the notion of tourism, explores its essence and its influence on people engaged in this activity. More specifically, he claims that a person gains nothing from it and that the more people travel to a particular place the more this place is ruined by these people. I n other words, Wallace believes that tourism has nothing to do with knowledge and learning more about the world and self. One of the most notable things about Wallace’s piece under discussion is his use of footnotes. In fact, he changes this feature of academic writing into something more alive, meaningful and sense-bearing. Some of the foot notes do perform their initial, main task, which is to explain and comment a certain part of the text above it, such as the first one. However, the majority of them are designated to perform other tasks. Wallace’s footnotes are essential to the story and reader’s understating of its tone and intentions of the author. They are the actual pieces of the text in which he doubts, criticizes and even asks questions. In fact, sometimes it even seems that it is not the text of the short story itself but the footnotes that contain the author’s main point on the issue. They are like a playwright’s remarks in a play that does not interfere