Mattel Catastrophe in China Essay - 1890 Words

Barbie was introduced to the world in 1959, and is one of the most iconic dolls ever produced. Barbie is manufactured by Mattel, which was founded in California in 1944, and has dominated the toy market ever since. Barbie helped to create a name and an Empire for Mattel, who later introduced products such as Hot Wheels and Polly Pocket. Mattel, for many years, had a great reputation and produced products that were safe and children loved. Mattel began moving their manufacturing operations overseas about twenty years ago, and until recent years had enjoyed continued success. When Mattel began moving a majority of their manufacturing operations to China and Mexico, they never would have imagined the controversy they would find themselves in†¦show more content†¦As children grow their bodies are able to absorb more lead than an adult (Pearce Robinson, 25-5). At the time of the recalls, China did not have regulations in place regarding the levels of lead in paint. In addition t o lead being found on paint used in children’s toys, Mattel would eventually end up recalling millions of products that contained unsafe, removable parts. In the end, Mattel ended up recalling 19 million toys made in China. There is a large cost advantage to doing business in China. Chinese manufacturers are able to manufacture products at a cost that is 30%-50% less than in the United States. The savings associated with foreign manufacturing is too much for most companies, including Mattel, to pass up. Everyday more American jobs are outsourced to China because of their ability to manufacture products for significantly less than in the United States. When it comes to manufacturing, China has a comparative advantage, or the ability to produce a good at a lower opportunity cost than another producer (Mankiw, Pg. 55). Not only have companies, such as Mattel, saved billions of dollars over the years, so has the American consumer. It is estimated that, since 1978, consumers in t he United States have saved approximately $100 billion by obtaining cheaper products from China (Ahlstrom Bruton, Pg. 4). It is no wonder jobs are continuously outsourced to other countries. Financially speaking, it seems products manufactured in China benefit everyone, wellShow MoreRelatedCrisis Management - Case Study6562 Words   |  27 Pagesthrough full-page newspaper ads (Dwyer, 1998). Mattel Mattel Inc., the countrys biggest toy maker, has been plagued with more than 28 product recalls and in Summer of 2007, amongst problems with exports from China, faced two product recall in two weeks. The company â€Å"did everything it could to get its message out, earning high marks from consumers and retailers. Though upset by the situation, they were appreciative of the companys response. At Mattel, just after the 7 a.m. recall announcement byRead MoreSupply Chain Risk Management6330 Words   |  26 Pagesthat reducing IBM Global Business Services Page  inventory buffers is an excellent means of cost savings in the short run, such strategies also place risk on operations when catastrophe hits. Supply chain visibility, or rather a lack thereof, can further compound problems. During the summer of 2007, toy maker Mattel repeatedly made the headlines for a recall of toys containing significant amounts of lead in the paint. In one specific case, the culprit seemed to be a sub-sub-contractor that decidedRead Morepaul hoang answers72561 Words   |  291 Pagesexpansion plans) Resistance from senior staff to relocate to China Lack of marketing knowledge to cater for a foreign (Chinese) target market Inaccurate or imprecise marketing research data Examination of external constraints, such as: †¢ †¢ †¢ †¢ Lack of cultural awareness (diversity) Language and communication problems Unfamiliarity with Chinese legislation (including employment laws) Less affluent people, in general, in China compared to USA or Europe [6 – 8 marks] There is a balancedRead MoreProject Mgmt296381 Words   |  1186 PagesProject Cost/Schedule Systems 471 Additional Earned Value Rules 471 Project Site Selection 540 Cross-Cultural Considerations: A Closer Look 541 Adjustments 542 Working in Mexico 545 Working in France 546 Working in Saudi Arabia 547 Working in China 549 Working in the United States 550 Summary Comments about Working in Different Cultures 552 Culture Shock 553 Coping with Culture Shock 554 Forecasting Final Project Cost 472 Other Control Issues 475 Scope Creep 475 Baseline Changes 477 The CostsRead MoreFundamentals of Hrm263904 Words   |  1056 PagesISSUES: Team Performance Appraisals 250 Rate Selectively 251 Train Appraisers 251 The Performance Appraisal Meeting 251 International Performance Appraisal 253 Who Performs the Evaluation? 253 Evaluation Formats 253 DID YOU KNOW?: Performance Metrics in China 254 Summary 254 Demonstrating Comprehension: Questions for Review 255 Key Terms 255 256 HRM Workshop External Factors 272 Geographic Differences 272 Labor Supply 272 Competition 272 Cost of Living 272 Collective Bargaining 273 Communicating withRead MoreStrategic Marketing Management337596 Words   |  1351 Pagesinstead against the background of changes in the political/economic balances of power (e.g. the rise and then the relative decline of Japan over the past 40 years, the opportunities today in Central and Eastern Europe, and the economic development of China), and major changes in the physical environment. Concern with the physical environment has increased dramatically over the past few years, with the origins being traceable to the publication in the 1960s of Rachael Carson’s book Silent Spring (1963)

Essay On Emily Dickinson - 1034 Words

Let’s play a game. Close your eyes. Now, think of some of your favorite poems. Can you remember the poets who created them? Did you name off Edgar Allen Poe, Shakespeare, and Robert Frost to name a few? I imagine that the majority of people didn’t remember Emily Dickinson. Emily Dickinson was a talented poet who used her previously devastating personal experiences to enhance her poems. Emily Dickinson was born on December 10th, 1830 to Edward and Emily Dickinson in Amherst, Massachusetts. In the year 1833, her little sister Lavinia was born into the family. During February of 1852, A Valentine was published in the Springfield Republican. That was one of the first poems that she had written. Emily Dickinson was an amazing poet that wrote†¦show more content†¦That year she also lost her paralyzed mother eight months after Wadsworth’s death. Then in October of 1883 her nephew, Gilbert, died and then six months later Judge Lord died. Judge Lord lost his wife and then Dickinson and him grew close. Emily Dickinson went through an abundance of hardships in her life time. Those experiences helped her to be able to enhance her poems because she experienced them so she was able to add a personal aspect and vantage point. Along with using her personal experiences; she used many literary devices in her poem, If I Should Die. One of which, was personification. One example of the use of personification is when she writes â€Å"gurgle on† (3), time can’t ‘gurgle on’ because it isn’t a person. She gives time a person attribute to emphasize that time will continue on after you pass away. Time will not stop; she knows this because when all of her loved ones died, time keep on going. Another example of the use of personification is when she writes â€Å"briskly fly† (14), She pairs briskly fly with trades, the act of trading can’t fly although she says that it can to convey that countries, companies and people will continue to trade with each other after you are gone; meaning that the world will keep on turning once you leave. The majority of her critics point out that she talks mostly about deathShow MoreRelatedEmily Dickinson Essay1254 Words   |  6 PagesEmily Dickinson Emily Dickinson was born on December 10, 1830 in the community of Amherst, Massachusetts. She was the second daughter of Edward and Emily Norcross Dickinson. Emily, her brother Austin, and her sister Lavinia were brought up and nurtured in a quiet reserved household headed by their father Edward. Throughout her life, her mother was not always around, or accessible, a fact that is said to have caused Emily’s eccentricity. They were raised in Puritanical Massachusetts,Read More Emily Dickinson Essay example1583 Words   |  7 Pages Emily Dickinson, recognized as one of the greatest American poets of the nineteenth century, was born December 10, 1830 in Amherst, Massachusetts (Benfey, 1). Dickinson’s greatness and accomplishments were not always recognized. In her time, women were not recognized as serious writers and her talents were often ignored. Only seven of her 1800 poems were ever published. Dickinson’s life was relatively simple, but behind the scenes she worked as a creative and talented poet. Her work was influencedRead MoreEmily Dickinson Essay821 Words   |  4 Pagescember 2012 Emily Dickinsons original approach to poetry results in startling and thought-provoking moments in her work Give your response to the poetry of Emily Dickinson in the light of this statement. Support your points with suitable reference to her poems. Emily DIckinson is a wonderful, idiosyncratic poet, whos original and powerful poetry is marked by startling and thought-provoking moments, defining Dickinsons poetry. Dickinson describes in shocking detail, moments of utterRead MoreEssay On Emily Dickinson1348 Words   |  6 PagesEmily Dickinson The beloved poet, Emily Dickinson lived as a recluse to become the greatest American woman poet of the 19th century. Even in such peculiar circumstances, her works remain alive as she unites people through her talent. Furthermore, her poems were not recognized until after her death, her art is now praised with its impact on society. She intrigues readers with prominent themes of life and death and its comparison to living and nonliving aspects. Dickinson’s unique background, interestingRead MoreEssay On Emily Dickinson1419 Words   |  6 PagesEmily Dickinson â€Å"I know that He exists,† is the first line in one of Emily Dickinson’s many poems. This is poem number 338, and it is one of her most famous poems even though most people do not understand it (Faulkner 8). Emily Dickinson is a well-known poet, but it was not always like that. During her lifetime, Dickinson rarely published her poems, and it was not until later that she became famous for her work (Crumbley 1). During Emily Dickinson’s life, she was a reserved person, to the pointRead More Emily Dickinson Essay2811 Words   |  12 Pagesconclusive. Dickinson remains an enigma even today but biographical speculation allows us to analyze some of her poetry even though we may be completely inaccurate about what we presuppose. There are some facts about Emily Elizabeth Dickinson that we know for certain. She was born on December 10, 1830 and is recognized as one of Americaamp;#8217;s greatest poets. She had an older brother, William Austin Dickinson, born on April 16, 1829, and a younger sister, Lavinia Norcross Dickinson, born on FebruaryRead More Emily Dickinson and Adrienne Rich Essay2741 Words   |  11 PagesEmily Dickinson and Adrienne Rich The modernist period, stretching from the late 19th century to approximately 1960, is a very distinct phase in the progression of American literature, employing the use of novel literary techniques which stray away from the traditional literary styles observed in the time preceding the period. Modernist writers explore new styles themes, and content in their compositions, encompassing issues ranging from race (Kate Chopin) to gender (H.D.) to sexuality (JamesRead MoreEssay on Emily Dickinson and Her Poetry3197 Words   |  13 PagesEmily Dickinson and Her Poetry Emily Dickinson is one of the great visionary poets of nineteenth century America. In her lifetime, she composed more poems than most modern Americans will even read in their lifetimes. Dickinson is still praised today, and she continues to be taught in schools, read for pleasure, and studied for research and criticism. Since she stayed inside her house for most of her life, and many of her poems were not discovered until after her death, Dickinson was uninvolvedRead More The Poetry of Emily Dickinson Essay883 Words   |  4 PagesEmily Dickinson has always been one of my favorite poets. I love her poems because of the pain and sorrow they contain to which I can easily relate. She often writes of funerals and death. I myself have watched too many friends die and have wondered why God would let this happen. At every funeral, some well meaning mourner would say--,The Lord called him or Shes with Jesus now. My gut reaction was always, Bullshit. Then Emily Dickinsons poem My Life Closed Twice Before its Close would comeRead More The Life Of Emily Dickinson Essay799 Words   |  4 Pages The Life of Emily Dickinson nbsp;nbsp;nbsp;nbsp;nbsp;Although she lived a seemingly secluded life, Emily Dickinsons many encounters with death influenced many of her poems and letters. Perhaps one of the most ground breaking and inventive poets in American history, Dickinson has become as well known for her bizarre and eccentric life as for her incredible poems and letters. Numbering over 1,700, her poems highlight the many moments in a 19th century New Englander womans life, including

Demand and Supply of Iron Ore in China

Question: Discuss about the Demand and Supply of Iron Ore in China. Answer: Introduction Iron ore is a very important natural resource that is used primarily in the production of iron, which is further processed to produce steel. Steel is a very versatile metal that is widely used across the world. Its uses ranges from manufacturing, building and construction, transportation and other wide variety of uses. China is the biggest producer of iron ore in the world followed by Australia and Brazil. Although the country produces the most iron ore, it also is the number one global importer of the resource. When compared to other producers, the iron ore from china is of a lesser quality. China produces crude ore that is of a lesser quality when compared to other countries that produce usable ore (Ironorefacts.com, 2017). This essay is based on the article written by Ranjeetha Pakiam that was posted on the Financial Review Website on March 9 2017. In this article, Ranjeetha Pakiam wrote that chains demand for iron ore hit the highest mark ever recorded in February of 2017. In this article, we shall discuss the demand and supply of iron ore in china, the factors that affect demand and supply, and how this affects the equilibrium prices and quantity. Information on the demand and supply of iron is important to both the importers and suppliers of iron ore. It assists them to understand the nature of the market and the best price and quantity to operate on and avoid losses. Furthermore, the information assists policy makers such as the government to come up with god importation policies that will benefit both the suppliers of the resource and the country. Demand for Iron Ore in China The demand for a product or service is the quantity that a buyer of the said product or service is willing and able to pay for at a particular price in time(Salvatore, 2011). The quantity demanded of a commodity is inversely related to the price of the commodity. When the price of the commodity increases, the buyers will demand less of the commodity. The reverse is true where more of the commodity will demanded when the prices are low. The importers of iron ore in china are many so the demand in this case will be an aggregate of the individual demands by the importers(Farmer, 2007). The aggregate demand here is the quantity of iron ore that the importers are willing and able to bring into the country for the price in the market at that particular time. The relationship between price and the quantity demanded is shown in the figure below. The line DD is the demand curve. Mining and transportation conditions affect the final price of the iron ore and hence will affect the demand. These conditions are determined by security and the cost of fuel. Another factor is the economic activity in china and the countries to which china exports iron and steel. Economic growth and urbanization in developing countries requires iron and steel for construction and manufacturing. The developing countries need the resources for building roads and homes for the growing industries and population. Therefore, the demand for iron ore in china can be used as an indicator of economic activity in the countries around the world. Changes in seasons can affect the demand, and regional situations such as political stability and taxation policies will affect the eventual cost of the ore. Other factors include the prices of stock and the conditions of mines that can lead to unpredictability of the prices hence directly affecting demand (wiseGEEK, 2017). Supply of Iron ore in China Supply refers to the amount of a commodity that a seller is willing and able to bring to the market at a particular price. The quantity of the commodity supplied is directly related to its price. This implies that when the price of the commodity increases, sellers will be willing to bring more of it to the market and they will bring less to the market when the prices are low. Similar to the demand for iron ore to china, supply is also an aggregate of the individual suppliers. The figure below shows the relationship between the quantity of iron ore supplied and the price. The line SS is the supply curve. Apart from the price, supply of iron ore to china is determined by the future expectations of changes in both demand and price. For instance in 2005, the Chinese economic activity was growing at a fast rate. The suppliers of iron ore regarded this as an indicator of a bright future in the mined commodities sector. In response, they invested in developing new mines and the results of these investments are evident now (Lichtenstein, 2017). Other factors that will affect supply include discoveries and development of new mines that will add the supply to the exiting supplies. Political and seasonal conditions in the supply countries will also affect the quantity and prices of the eventual supply. When we combine demand and supply of this resource, we get an equilibrium price and quantity. Equilibrium in demand and supply is the point where the demand and supply curves intersect. At this point, the quantity demanded equals the quantity supplied at the same price hence the market will clear i.e. all the commodities brought into the market will be bought. The figure below shows equilibrium in the iron ore market. P* is the price equilibrium while Q* is the quantity equilibrium. Conclusion Both exporters and importers of iron ore in the Chinese market need to understand the dynamics of demand and supply, and also how these economic phenomena interact to give rise to the equilibrium price and quantity. This information will help the relevant parties make good decisions on demand and supply to avoid deficiencies and surpluses in the market. References Anon, (2017). [online] Available at: https://www.quora.com/What-are-the-main-determining-factors-of-global-demand-and-supply-for-mined-commodities#MoreAnswers [Accessed 12 Apr. 2017]. FARMER, R. E. A. (2007).Aggregate demand and supply. Cambridge, Mass, National Bureau of Economic Research. Ironorefacts.com. (2017). Iron Ore Global Markets. | Iron Ore: Facts.. [online] Available at: https://www.ironorefacts.com/the-facts/iron-ore-global-markets/ [Accessed 12 Apr. 2017]. LICHTENSTEIN, J. (2017). How does China drive the mining and metals business?. [online] Yale School of Management. Available at: https://insights.som.yale.edu/insights/how-does-china-drive-the-mining-and-metals-business [Accessed 12 Apr. 2017]. Pakiam, R. (2017). China demand for iron ore sets new record high for February. [online] Financial Review. Available at: https://www.afr.com/business/mining/iron-ore/china-demand-for-iron-ore-sets-new-record-high-for-february-20170308-gutwwn [Accessed 12 Apr. 2017]. Ironorefacts.com. (2017). Iron Ore Global Markets. | Iron Ore: Facts.. [online] Available at: https://www.ironorefacts.com/the-facts/iron-ore-global-markets/ [Accessed 12 Apr. 2017]. SALVATORE, D., SALVATORE, D. (2011).Microeconomics. New York, McGraw Hill. wiseGEEK. (2017). What Factors Affect the Demand for Iron Ore? (with pictures). [online] Available at: https://www.wisegeek.com/what-factors-affect-the-demand-for-iron-ore.htm#didyouknowout [Accessed 12 Apr. 2017].

Voyages Soleil

The key decision and the risks facing the company – Voyages Soleil, Inc. (VS) The key decision faced by the company (Voyages Soleil, Inc.) is how to embrace international foreign exchange rates against the Canadian dollar despite the looming financial challenges. The value of US$ against the Canadian dollar has been fluctuating considerably. The company might operate at a loss when it books hotels in other countries using US$ as the standard currency for payments. Evidently, international hotels prefer payments in US$ but not Cdn$.Advertising We will write a custom case study sample on Voyages Soleil specifically for you for only $16.05 $11/page Learn More According to the case provided, the company (VS) had been hit adversely by the economic downturns and insecurity factors following the incident of September 11, 2001, in US. Issues of insecurity and travel cancellation played credible roles in the company’s decision making provisions. Pre cisely, the key decision is how to approach the foreign exchange risks following the then economic hitches. The risks facing the company incorporate fluctuating exchange rates between US$ and Canadian dollar. Additionally, economic plunge and decline in the travelling trends following the U.S.’s terrorist attack on 11/9/2001 are other risks faced by VS. Concurrently, hiked competition among the remaining Quebec tour operators and other players in the industry forms a considerable risk. Stakeholders in this situation Stakeholders in this situation incorporate VS Inc. (as a tour operator), suppliers to the company, clients, airline corporations, foreign exchange markets, other tour operators, international hotels, and other significant parties. Precisely, the stakeholders of this situation are numerous. They range from the travel industry players to the government agencies handling security concerns. The future of the Canadian travel industry and the Canadian currency at this s tage (case date) The future of the Canadian travel industry is stunning. It is evident that the industry has been growing tremendously in the recent past despite the mentioned challenges. From the case study provided, it has restored its stability after the incidence of 9/11/2001, which created instability in the industry due to insecurity concerns. This is a crucial provision when considered critically in regard to the fates of the Canadian travel industry. Internationalisation of various organisational activities and stabilization of foreign exchange provisions have contributed to the recent growth of the industry. Additionally, the Canadian dollar has been stabilising against the US$. This will curb the risks faced when dealing with international exchange rates. Additionally, the Canadian travel operators can easily transact or pay their clients in US$ minus making considerable losses.Advertising Looking for case study on business economics? Let's see if we can help you! Ge t your first paper with 15% OFF Learn More Options available to the company and the consequences VS Inc. is considering various options so as to handle the current situation critically. Firstly, it considers waiting until October to exchange the Canadian dollar at the then prevailing rates. This option is risky in case the exchange rates between US$ and Canadian dollar destabilises to the negative. Additionally, it is not possible to predict the situation as evident in the case study provided. The second option is to employ forward contracts for the entire payables. The consequence of this option is unpredictability in the US$ values. The third option is to buy (using borrowed Canadian dollars) US$ as at April 1, 2002 and trade them 6 months later. Consequences of this option incorporate the unpredictability of the situation. The company might gain or lose money in the coming 6 months.. Recommendable actions It is recommendable for the company to borrow Canadian dollars. It can then buy US dollars and trade them later at the prevailing rates. The borrowing rates will allow the company to regain its capital and remain with some money to cater for the foreign exchange risks experienced in the industry. This case study on Voyages Soleil was written and submitted by user Blake Velasquez to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.