Mattel Organizational Crisis Essay Example | Topics and Well Written Essays - 3000 words

Mattel Organizational Crisis - Essay Example Reports from the Consumer Product Safety Commission (CPSC, 2007) indicated that three children had been hospitalized due to ingesting some particles from the toys and all these three were diagnosed with intestinal perforation, hence required surgery. Owing to this recall, the company lost over $30 million and nearly 1.5 million toys it had sold were removed from the shelves. The Wall Street Journal (2007) notes that previous to the recall, Mattel was the biggest toy manufacturer reputed for its strict safety standards. As noted by Mitroff (1989) a positive public image could easily be destroyed in the course of a crisis. Scholar, nonetheless, have established that strategic application of corporate information, proper crisis communication and effective crisis management can assist in wining back public confidence, since communication has the ability to determine how information reaches the public as well as the media (Coombs, 2007). This paper examines Mattel crisis, the paper will specifically examine how the crisis happened, corporate communication of crisis, crisis management and give conclusion. Mattel recalled 19 million toys from August to September in 2007 because of two separate reasons (Media Statement, 2007). This was the biggest recall in the history of the company because both recalls happened at the same time. The first reason for recall of toys was due to faulty magnets used. The toys were designed in such a way that most parts had high-energy magnets. These magnets are of great effect to infants and young children because they can ingest some parts and be affected in their digestive tract. When children shallow several magnetic particles there are high chances of that they will pull together in the stomach and rip by use of stomach tissue. The combination of magnet strength with poor design of Mattel toys made these toys dangerous to the health

Philosophy- The Problem of Evil Essay Example | Topics and Well Written Essays - 1000 words

Philosophy- The Problem of Evil - Essay Example Evil can be defined as anything which is morally wrong, inhuman, or brings destruction to life and liberty. The idea of evil can be applied to thoughts, actions, persons or even objects. There is an accepted relationship between good and evil that one can not exist without the other and often both are objective viewpoints and faces of the same coin. At the surface, it is a simple concept which even children will understand that evil is representative of actions and deeds which hurt other people but in theological terms it is often seen a problem that requires explanations (Surin, 2004). I believe in the position forwarded by Nash (1994), who suggests that being certain of God’s existence is not central to the understanding of why evil exists or prevails. In the fourth chapter of his book, he outlines the idea of freewill and how the existence of human beings gives them the power to perform their actions as they choose. While God allows evil to occur, God does not condone it and the concept of justice is as attached to the idea of evil as the theme of reward is connected with the idea of moral behavior. Rene Descartes was a famous French philosopher who took a different approach to define the problem of evil. He has been called the father of modern philosophy because of his thoughts on reason and the existence of the self. His primal work on the concept of evil is considered to be Meditations on First Philosophy which is fundamentally a search for the truth. In Meditations, Descartes seeks out facts which a person can arrive at without any doubt. Like a skeptic, he considers everything and doubts everything which can be doubted even his own senses as if he is being fooled by a dream created by a supremely powerful evil entity. While dreaming is not explored in his works, the concept of an evil entity is examined in some detail. He considers deception to be the embodiment of evil because evil functioning as

The contemporary nature of primary school teaching Essay

The contemporary nature of primary school teaching - Essay Example Children, however, have few emotional resources with which to cope with problems. This is further explained by theories, which state that childhood experiences and development are critically important to their future life. (Goldman, 1996). Â  In addition, using the theories of human development by Sigmund Freud and Erick Erickson, they describe the early stages of life as crucial, critical and prone to dangers. In the Freud’s theory, he stated that if an individual’s needs in his early stage of life are not satisfied, then some negative results will happen in the succeeding stages and eventually, this may result to problems in the future life of the individual. Similarly, in the theory of Erickson, he identified the stages of development where he quoted that each of the stages of life of an individual has its corresponding psychosocial crisis that an individual must overcome. In the early life of the child until the end of primary grade, the important values and attitudes are shaped. These are enumerated as: trust, autonomy, initiative and industry. These attitudes are very important for a growing child. If these are not achieved by the child in his early years then what will happen to him when he reaches adult or old age. In this times when the child needs to have those values, the person on their sides are the parents and most especially, the teachers in the primary grades. It is therefore important that teachers should be knowledgeable to these conditions and characteristics of a growing child (Duka, 2003). The above-mentioned statements only show that children should be cared properly, nurtured well and most specially must be taught well. These duties are not only for the parents but more specially for the teachers, specifically, primary teachers because there are more times when these children are in the care of the teachers. The mission for primary education is to enable every child to acquire basic preparation that will make

Value gap in the hospitality industry Essay Example | Topics and Well Written Essays - 7500 words

Value gap in the hospitality industry - Essay Example The literature review section (above) gives a detailed summary of the information that was obtained in the course of the secondary research. From this research two primary objectives for the study could be identified. These are: To evaluate the discrepancy gap between the customers’ expectations and perception of their overall experience with the offered service To identify the factors that enhance customer satisfaction in the hotel industry In order to investigate these objectives both qualitative and quantitative research were used. It was not practical to examine the hotel industry as a whole, an as a consequence four London based hotels were used in order to examine these factors. 3.2 Research Philosophy Yin (2003) considers two different methods that can be used while conducting research, either qualitative or quantitative. These methods refer to the way the researcher treats and analyses the collected data as well as the data itself. The qualitative research approach is less formal and based on unsystematic and unstructured observations. There is little to no numerical component of the research, and consequently it consists mostly of observations and can be difficult to analyse. According to Corbin and Strauss (2007) qualitative verbal analysis is often used in order to gain proper understanding of the phenomenon. The use of this method is to value and study the entire situation. Quantitative research has a foundation of numerical data, which then are calculated and accessible in figures with statistics; therefore, the quantitative research is more standardized (Corbin & Strauss 2007). A positive side of the quantitative approach is that it is rather easy to generalize from the gathered resources. This study took an interpretive paradigm that stresses differences in individuals’ perceptions of social reality that vary across time and place. Interpretive approach thus requires the researcher to conduct a comprehensive investigation of the phe nomenon before drawing any inferences (Klein & Myers 1999). However, since interpretive approach is predominately qualitative, elements of positivism, notably quantitative and statistical techniques were incorporated into the analysis to enhance the generalisability of results. A combined approach of both qualitative and quantitative methods enabled the researcher to understand why customer experience and customer satisfaction are different, and to identify the specific factors that make the two different. To accomplish this both interviews and the survey questionnaire were used in this study. 3.3 Population The primary mandate of the researcher was to choose a sample whose collected data could be generalised for the entire population of managers, employees and customers from the hotel industry in London. The management including CEOs, supervisors, department heads, managers, and team leaders were among the population targeted to be included in this study. This population was releva nt for this study because it has the knowledge and experience of the perceived differences between customer experience and customer satisfaction. Therefore, their views and perceptions were ideal for this study particularly in answering the research questions. For this study, staff members from four hotels were used as the study population. The specific hotels were

Ensure a Safe Workplace Essay Example for Free

Ensure a Safe Workplace Essay Chemicals purchase large quantities of cleaning chemicals. These are delivered in 205 liter drums and include solvents, acids and other corrosives, and detergents. These products are decanted by ABC chemical’s staff into retail size containers (not exceeding 30 liters/kilograms) , re-labelled and shipped in company-badged delivery vehicles to retail outlets throughout the metropolitan area. There is, within 25 meters of ABC chemical, a local nursing home that cares for elderly residents with age-related conditions including dementia. Across the road from the nursing home is a child care center that provides day care for the under 5’s. ABC chemicals employs some 50 people whose duties include the day-to-day running of the business and decanting of the chemicals into smaller containers. Small spills during the decanting procedures are cleaned up with rags, which are disposed of at the end of the day into the general waste dumpster in the rear yard of the premises. The dumpster is collected by a waste contractor on a weekly basis. The ABC chemicals building was constructed in 2000 and has been fitted with limited emergency equipment. None of the staff has received any training in safe handling of chemicals or how to cope with emergencies and there is no emergency plan displayed in the workplace. ABC chemicals is situated on a busy intersection and there have been several significant vehicle accidents in front of the premises. All empty chemicals drums are stored in the rear yard against the back cyclone fence. These drums are collected on monthly basis and as many as 250 drums can be stored there awaiting collection. Behind the cyclone fence is a large open, overgrown paddock with dry grass, which is owned by the local council. The council has advised ABC chemicals that they wish to build a community center on this site at some time in the near future.

Legal And Ethical Issues In Robotics

Legal And Ethical Issues In Robotics With the development of the technology over the past decade the Robotics has become one of conversational subject areas. As a result of mankinds ultimate innovations and accomplishments regarding to the Robotics, the social, ethical and professional norms have been affected in both positive and negative manner. Therefore, identify and analyze issues which might occur when implementing robot technologies an important and contemporary need. According to the VEX Robotics, Inc. (2012) the robotics is the science and technology which is used for inventing, accumulating, manufacturing and information processing of robots. With the robots, the tasks which are performed by humans can be automated in order to gain higher effectiveness and efficiency. A robot is an electronic device controlled by a program and able to carry out tasks of various kinds-it is a machine made to perform that humans might otherwise do (Wilson, C. 2007). In the current society robots are used in many different areas like education, entertainment, surgery, surveillance, military, farming, factories etc. The robots are capable of performing tasks accurately, high quality, speedily, safely than human beings and also they can perform dangerous tasks without much effort. Thus the robots and related robot technology provide various advantages for human lives and society with its technology. Currently robots are used to handle sensitive, critical and complex surgeries in accurate and effective manner. The robots are capable of performing surgeries with less pain, miniaturization, decrease blood loss, smaller incisions and quicker healing time. Unlike human surgeons these machines can perform tasks more smoothly with fewer side effects. It is true when there are fewer side effects patients lives will not get negatively impacted in the future after having a surgery. With the use of robots the surgeries can be done remotely, anywhere in the world without requiring the presence of a surgeon. This is very useful when handling surgeries where the surgeon and patient are not in the same geographical location. The technology made specialized surgeons to be accessed globally at anywhere in the world. Thus the robot science enhances the flexibility and availability of the medical field. Although Robots provide numerous benefits for human beings, on the other hand it might lead to create several ethical issues which may affect the patients condition negatively. Will people like to get treated from a soulless, emotionless machine? Most of the people will not like to get treated from robots because those machines dont have any idea or impression about the patients situation. Valuable human qualities like sensitiveness and carefulness is unforeseeable from robots. Another main issue is robots will not get trusted like a human surgeon. But in these cases patients are forced to trust on a machine. Thus, trust and freedom ethical principles are getting invaded. Robots are created by assembling heavy metal arms and other metal gadgets. Occasionally patient will get scared after seeing the robot because its appearance is not pleasant and familiar like a human surgeon. The situations like this might impact negatively for the patients condition. During a surgery, if machine ge ts malfunctioned or misused who will take the responsibility? The soulless, emotionless machine cannot take the responsibility like a specialized, well experienced surgeon. Thus moral responsibility and liability ethical principles are invaded. The researchers at the Harvard University has developed tiny organic DNA robot device to destroy cancer cells by sending important molecular instructions to infected cells (Mowatt 2012). This is significant invention in robot technology which can provide greatest benefit for human being by saving thousands of lives. Although these types of robot devices provide remarkable advantages, the technology can be misused. For an example if robot collected data (DNA) is used for further researchers or tests without having permission from the owner might leads to raise several privacy and security issues. DNA is strictly sensitive and confidential information of an individual where characteristics of a person can be fully exposed by analysing information. According to the Data Protection Act UK 1998 the information must be kept secure and must not be routed in any mode incompatible with the original use. When the data about a patients health is used for further researches without their knowledge, the Data Protection Act will get violated. Under the Public Interest section, British Computer Society (BCS) code of conduct defines to IT professionals that have due regard for public health, privacy, security and wellbeing of others and the environment. When robots are used as surgeons, the professionals who design those robots should concern about public health and wellbeing because it will be used to treat humans. Robots actions are very important during a sensitive and complex surgery as human life will depend on the tasks done by robot. Therefore professionals who design robots should accept the professional responsibility of their creation or design. In present robots are used for military purposes in many countries because it reduces the number of human involvement by saving lives in war. According to the article written by Marchant, G.E. et al. (2011) there are number of robots used for several wars. For an example U.S. military used unmanned aerial vehicles for unmanned air attacks in Pakistan, Afghanistan, and other countries. Further the article mentions that self-directed robots may be able to act more effectively than human beings because they can be designed without emotions, able to act independently, conservatively and also can process more information. When looking at the theoretical perspective according to the Deontological theory killing is wrong as destroying human life, freedom and property is not a right action. But the consequences of the action will be positively impacted on the massive number of people. Because of that from the perspective of Consequentialist theory the war can be a right action. Although robots provide various advantages for military purposes, on the other hand several ethical principles will raise. War is something about killing people and destroying their property. Human lives and property will get severely impacted though use human soldiers or robots. As a result of that right to life, liberty and security ethical principles are getting invaded. Sometimes war can be very unethical when one party uses military unmanned vehicles and other party use humans as soldiers. The situations like that become a war between humans and machines. The value of the human life will be compared with the value of soulless, emotionless machine. Human life is precious because once it lost we cant have it back. But once a machine damaged or malfunctioned, it can be repaired or replaced by another machine. Human life cannot be regenerate or replaced like robots and it is valuable gift. When using military unmanned vehicle robots against human soldiers, the value of human life wi ll be degraded in front of those metal machines. Thus human recognition and dignity ethical principles are getting invaded. The Public Interests section in BCS Code of Conduct mentions that IT professionals should have care for public health, privacy, security and wellbeing of others and the environment. When robots are used in wars human lives, privacy and security will be invaded and as a result of that public interest section of the code of conduct is getting violated. Avoiding injuring others, their property by false or malicious action or inaction is mentioned under Professional Competence and Integrity section of BCS Code of conduct. When robots are used to destroy human life and property in wars, the associated code of conduct is invaded. In wars, human life and property will be severely damaged and destroyed. According to the Human Rights Act 1998, everyone has the right to life and protection of property. Thus destroying human life and their properties in war will violate the act. The article 5 in Human Rights Act mentioned that everyone has the right to liberty and security of person. When war destroys human lives by depriving peoples liberty and protection that will also violates the Human Rights Act. Tracking someone via a robot equipped with surveillance camera can create both positive and negative issues in society. For an example tracking a criminal or terrorism suspicious person by authorized party to expose drug trafficking information and many more illegal activities can be identified as positive effects while secretly spying a person with intent to cause or harm is a negative effect. On the other hand, the privacy and freedom can get invaded when use robots to track whereabouts of an individual as these robots are capable of secretly spying without users knowledge by hiding itself. According to the article written by Hambling (2011), the Lockheed Martins Advanced Technology Laboratories has developed a robot which is capable of spying at night, hide itself when hear footsteps of an unseen guard and move again when the road is clear. Using a robot like this for tracking can be very harmful because it cannot be easily detected. When an individual is tracked or monitored by using surveillance robot wherever that person moves will be notified to a third party and that may leads to affect privacy, security and freedom of that individual. When a third party is more knowledgeable about an individual, that person can be easily controlled or blackmailed. Thus individuals freedom, autonomy and privacy rights are getting affected. Spying or tracking might not only be a risk for the person who is subject to spying but also the people that person interacts or having relationships with. If the tracker has the intention of harm to persons life, the family, relations and the society around that person might get negatively impacted. Under the Public Interest section, BCS code of conduct defines that IT professionals should have due regard for public privacy and security. When the unethical tracking is performed through a surveillance robot, the tracker breaks the public interest section of the code of conduct. Avoiding injuring others, their property by false or malicious action or inaction is characterized under Professional Competence and Integrity section of BCS Code of conduct. If the tracker does tracking with the intention of harm to an individuals life or their property, according to the professional rules the action is guilty. Tracking a person secretly can provide inappropriate ethical, religiously and politically offensive results which may be viewed as the violations of Human Rights Act UK 1998. Currently robots are used by most industries in their manufacturing processes because it is capable of generating accurate, reliable and high quality products when compared to human workers. Robots actions are controlled by programmed computer application or electronic circuit. As a result of that there is a low probability of generating inaccurate outputs unless machine gets malfunctioned. Due to its mechanical nature and computerized control, a robotic arm can carry out a repetitive task with great precision and accuracy, thus providing improved, consistent product quality (Bengtson, H. 2010). Unlike robots, human workforce gets tired and bored when carrying out repetitive tasks under long time periods and as a result that the efficiency of generating output will get degraded. When the efficiency of production gets low, the number profits made by company will become low automatically. The mechanical approach and automated control made manufacturing robots more efficient and speedy which redirects business into higher production rate where company can attain competitive advantage than with human workforce. There are some manufacturing industries where humans are required to work at uncomfortable and dangerous environments like defusing bombs, mixing chemical ingredients, attaching equipments under higher temperature etc. But robots will not get impacted by these environmental conditions as humans. Companies can purchase most suitable robots for their working environment and manufacturing process. Thus manufacture will get benefited greatly by reducing costs involve in production process through replacing human workforce by automated robot workforce. When looking at the shareholders perspective, replacing current workforce by robots will leads to make more profits for them as overall efficiency in production gets increased. Thus shareholders are greatly benefited by using robots in manufacturing processes. Consumers will able to experience accurate, reliable an d high quality products because of robot workforce. Although robots will maximise productivity by reducing costs, this might leads to create serious social issues like unemployment, employee relationships and attitudes towards to the work. When current workforce is replaced by robots the employees will become jobless. According to the studies carried out by American Psychological Association (2009), 78% of Americans reporting money as a significant source of stress. The stress created as a result of unemployment will not only affect negatively for an individual but also individuals family and well-being. The trouble of unemployment can also affect unexpected conclusions for children like sicknesses, distress and depressive symptoms. The unemployment will also create social divide within society by increasing the gap between families with children that both parents are get paid and families with children both parents are not get paid. This is terrible social issue which has indirect relationship on poverty and inequality. When poverty within a society gets increased, there is a high probability of increasing illegal activities like burglary, theft, fraud etc. According to the researches carried out by Carmichael and Ward (2000), there were high accretion in burglary, theft and robbery in 1992, 1993 and 1994 years because overall rates of youth and adult men unemployment get increased during those years. The article illustrate in 1989, 1990 and 1991 the youth unemployment rate varied between 12-18 per 100,000 population and total number of crimes were about 6562.7, 7845.8 and 9213.7. Between 1992 and 1994 the youth unemployment rate has increased and varied between 21.94 -19.5 per 100,000 population and total number of crimes were about 9816.8, 9727.5 and 9234.0. According to the statistics there was a visible increment of crime activities along with the growth of unemployment. It is true there is a fine impact on illegal activities with unemployment and poverty of a society. When human workforce is replaced by ro bots, there is a high possibility of amplifying illegal and crime activities in the society because of the increased unemployment population. Robots in a workplace will also create negative impact on human relationships, employee attitudes towards to the work and employer. When human workforce replaced by robots, the faith that the employees have kept on the organization will be dented as employees will began to think the employer only concerned about the efficiency and productivity of the work not the relationships or friendly working environment. Thus employee attitudes towards to the work and employer will get negatively affected. Robots cant be friendly or emotional like human workers and as a result of that there will not have a pleasant working environment filled with employee relationships. As robots are not able to communicate like humans the relationships and bonds among robots and rest of the employees will remain in a lowest level. Actually it is hard to justify whether the work or individual life is more important but the employer is always responsible for protecting relationships and job security of employees. What will be the impact when employees are fired from job without prior notice and compensations? The situations like this will create pathetic condition around individuals and their families. However in the social perspective, organisations can validate the importance of the robot workforce relating it to rising productivity, efficiency and minimise the wastages. Under the Employment Rights Act 1996, UK dismissing an employee without giving prior dismissal notice is illegal. The law also give right for employees to complaint the tribunal about unfair dismissal. Therefore employers are legally bound to take the responsibility of dismissing an employee. Currently robots are mostly used as human companions for elderly and childish people. Assist elderly or disable people, clean household equipment are some of core functionalities of robot helpers. United Stated National Institute of Standards and Technology (US NIST) has developed a robot to help disabled people move around their home. This robot acts as a wheelchair but also gives a helping hand to get out of bed and get on and off other seats. The robots like this are really useful to overcome physical difficulties that are faced by disable people when performing day to day tasks. The Nuresebot, Pearl is another multi-disciplinary, multi-university effort aimed to provide assistance for elderly people at homes. This robot is capable of reminding elders about regular activities such as eating, drinking, taking medicine, using the bathroom, guiding them through their environments, calling for help if they fall and display messages on the screens for people with hearing loss (Carnegie Mellon University n.d.). Elders need more care and attention because they are more vulnerable to abuse and also physical changes in old age reduce the ability to conduct activities of daily living by maintaining independence. Robot helpers or robot companions mentioned above will be a fair solution for taking care of elders and protecting them by being abused. Using robots for taking care of elders and children is very helpful in current busy life styles. Unlike Asian countries, Europeans are not having strong relationships with their parents after get married or being matured. In a situation like that robot helpers would be a best solution where protection of elders is assured. Although using robot helpers for elders is an effective, opportune solution this will leads to create several ethical issues. Elders will not able to get same experience and exposure like having companion with human being because these robots cant gossip, share ideas, emotions and communicate like humans. Therefore robots will not able to fulfil the emptiness in old heart like a human companion and as a result of that human relationships will get negatively affected. When using robot companions for children, their personality, behaviour and attitudes will get impacted. The robot will do everything that child command without questioning. Then the child began to think everyone will do everything that command without questioning and he/she can get everything without any interference. Thus robot companions will lead to create drastic negative attitude and behavioural change in child. During the infant and child years, children grow quickly and tend to learn about the environment they are interacting with. Without having a proper guiding adult to teach and guide in to the right path, child personality will also get degraded. Soulless, emotionless and inexperienced robot will not able to teach values and norms associated with human lives. Parents are the most important character in childs life and they are capable of understanding childs needs than anyone does. Love, affection and caring are critical requirements for better growth and development in a child. A metal robot is not able to fulfil these emotional feelings which are unique to living beings. Thus effects on human relationships, human personality and changes in attitudes social issues are raised when using robots as human companions or home helper. Experiences with touch, movement, voice sounds, and chances to see faces and their changing expressions these seem to be essential contributors to emotional and mental development (Mercer 2009). Without having these factors, the language development, ability to u nderstanding in the child will be weakened and as a result of that child will become socially isolated. Robots are expensive and everyone cant get the technology experience because of its high price. That will create a digital divide in the society, where only rich people can have robots experience. According to the Public Interest section in BCS code of conduct, the professionals should support equal opportunities and benefits of IT by including all sectors in the society. When robots are unaffordable and cannot experience for every human being as equal, this will breaks the following BCS code of conduct. Every technology has associated limits and vulnerabilities which may create severe negative impacts on individuals. Robots are reacting according to the limited set of tasks they are programmed into and any action that is out of the program might not be fulfilled. For an example a human companion that is programmed to take care of elderly or childish person might not be able to respond emergency situations like fire, explosion, theft etc. The situations like above can harm for people who are vulnerable to abuse. Elders are more vulnerable to abuse because physical changes appear with the age, made them to slow respond or inability of responding properly for actions. Children are also vulnerable like elders because they dont have knowledge or experience to respond emergency situations like matured people. These vulnerable groups may tend to trust on robot machine because it will be the only companion they have to interact in most of their time. If machine gets malfunctioned, the life of these vulnerable groups will be in a danger. Thus the negative implications and possible risks which may arise when adopting technologies like robotics should be much concerned. The individuals have to face both positive and negative Ethical, Social, Legal and Professional issues related to robot technology. The negative implications of robot should be clearly identified by IT professionals in order to make human lives more comfortable via secure information technologies while protecting ethical, social and legal rights of human being. By analysing and understanding both negative and positive impacts prior adopting technology may assist to reduce several issues which may arise related into robotics. In the conclusion, I recommend organisations and individuals to implement suitable policies when using new robotic inventions in their business and household that is transparent to ensure negative effects of the technology has been controlled and prevented.

Total quality management in competitive globalisation

Total quality management in competitive globalisation Global total quality management in financial service industries Total quality management The business leaders face immense pressure in todays turbulent competitive environment thats move forward by globalisation, macro-environment factors and advanced technological growth of internet. The strong market forces within this competitive environment have developed global customers who are more aware of changes in the global market. Total quality management is an important tool in any business to surmount future challenges within the turbulent financial service environment. TQM provides the financial business leaders with a formalised process in setting clear and achievable corporate objectives and at the same time guides the management in planning strategies to maximise resources and to achieve win-win partnership. Total quality management (TQM) is an organization-wide process that revolves around the Total Quality Triad. It assumes that there is never a state of perfection (Kelada, 1996). Hence, in order to that plans are developed in an integrated manner, three important total quality principles must be adhered to participation and commitment by stakeholders and senior management team, employee involvement and continuous improvements to meet customer satisfaction. Source: Bradford University Total quality management in global financial services environment In the global financial services environment, Total Quality Management (TQM) provides the overall concept that fosters continuous improvement in an organization. The implementation of a Quality Management System (QMS) does not equate to self-generated results. Continual improvement Continuous improvement of the QMS is of paramount importance for meeting and satisfying clients ever changing needs and requirements. The purpose of the project is to identify quality improvement through Kaizen program, performance measurements; benchmarking with appropriate key performance indicators; and essentially designing a balanced scorecard to achieve continual improvement. Practices by non-financial organisation Good practices implemented by construction organizations in strategic partnerships alliances and knowledge management was identified and developed recommendations for improvements to gain competitive advantage in the construction industry. TQM not suitable for financial services environment TQM is not really suitable for any service organisations but it really helps the service organisations to focus on the participation of senior management team, involvement of all employees and managing internal process towards achieving customer satisfaction. Long Term client relationship In global financial services environment business strategy is building on long-term client relationships. Over 90 percent of the work is repeated business from loyal clients. This strategy yields cost advantages, profits, and growth, allowing them to attract and retain investors and thus fuel further growth. Quality Gurus There are a number of writers whose work dominates the quality movement. Their ideas and approaches have stood the test of time and have come to from a body of accepted knowledge, to lead and advise their own movement in quality. They have become known as gurus Crosby Philip B. Deming W. Edwards Feigenbaum Armand V Ishikawa Kaoru Juran Joseph M Oakland john S Shingo Shigeo Taguchi Genichi All the above Gurus have presented their own work on quality management and have made a considerable impact on the world through their contributions to improving not only businesses, but all organizations including state and national governments, military organizations, educational institutions, healthcare organizations, and many other establishments and organizations. Global inventory planning and control management What is planning and control? The purpose of planning and control is to ensure that operations are working effectively and the production of products and services as required. There is another purpose of planning which is to minimise uncertainty and risk and a clear view of future forecasting. Financial planning and control It is a well known fact that a successful business helps organisations to generate enough cash in order to cover costs and make some profit. The difference between sales and cost is profit. The businesses are not always expected to be profitable from the very first day but there should be an expected plan for them to become profitable. There should be proper financial controls for all the businesses. The records should be accurate and complete and should fulfil the legal requirements. The tight financial control always helps the financial organisations or any organisation to monitor their current situation and always predict the future environment. The information derived from financial statement analysis can be used to establish future operating goals (financial planning) and to determine how to meet established goals (financial control). Developing pro forma financial statements is an important part of the planning and control processes. Inventory planning and control in financial services environment Inventory planning and control in financial services environment is the method of organising the difference between demand and supply of financial products and services. Inventory control is not a small matter from a financial perspective way. Inventory is really important and major current asset for any business including financial services organisations.As a result, there are always policies of businesses to keep the inventory as low as possible because too much cash hold up in inventory. The objective of reducing the inventory can be accomplished with modern inventory management processes that are working effectively. Global change management strategies in financial environment In todays world of economic and technological development, the organisations have changed significantly. The change had only been possible through restructuring, technological improvement and merging with other businesses. The most important challenge for the organisations is to implement such change to achieve the behavioural and cultural change that is most likely required to achieve the planned benefits. Behavioural change does not just happen in the organisation. Change will only occur if there is leadership, clear goals and planned benefits for its stakeholders. All of these should be properly communicated in a timely manner. Strategy for Change Three important principles to manage change are: Change management is not the goal in itself: For an organisation to be successful, change management plays an important role. Change management is all about managing the process effectively and leads to an environment where an improvement in performance are realised. The change targets must play an active role in realising the change: Change in projects will identify and successfully communicate the image, therefore letting the employees know that the planned benefits have changed and play an active role in realising those planned benefits. Employees are the greatest asset for any organisation: Employees are potentially the greatest challenge for any organisation. The image or goal of any purpose can only become reality if the employees believe in the project and have the desire to achieve it. Financial services environment In the last decade, financial services sector has undergone major changes. The financial sector is a rewarding field in which there is every chance to make or improve a career, particularly if staff is loyal, hard working and have given the correct back up support. It cannot be ignored that the current process of globalization and market deregulation has often led to restructuring within organisations. If these major changes have been mis-handled, then it would bring job insecurity and resulting increased pressure on work forces, which in turn can lead to higher work related stress, and a possible lack of commitment and motivation. Change requirement in current financial environment Capital, currently, is grossly overvalued. Company objectives are all about maximizing value for shareholders, the providers of capital. This can lead to companies adopting strategies that do not necessarily benefit stakeholders such as customers and staff. The same emphasis on capital, and shareholder value, breeds an unhealthy focus on short-term results. Shareholders of stock listed companies want better results every quarter, leading management to take decisions that are not necessarily in the longterm interests of the company and its stakeholders. This needs to change.