Importance of Six Sigma in Process Improvement - 3770 Words

Importance of Six Sigma as Process and Sustainability Improvement in United Parcel Services Martin Tunggadjaja March 2013 ABSTRACT Six Sigma is a process improvement developed by Motorola in 1985 that encompasses a set of strategies and tools acquired in order to improve the current business practice and systematic processes to fulfill the objectives. It is initially designed to measure how many faults or defects are in the process so that they can be eliminated systematically as part of improvement to reduce weaknesses and reinforce quality. One of popular process improvement methodology that is part of Six Sigma is DMAIC, which consists of: Define, Measure, Analysis, Improve and Control. Originally Six Sigma was first†¦show more content†¦Page 3 of 15 Hence, the logistics management is depicted as the part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services and related information between the point of origin, and the point of consumption in order to meet customers’ requirements (Council of Supply Chain Management Professionals, 2007). Since problem situations most often will exhibit many and diverse characteristics which make different methodologies suitable for the logistics management, it is recommended that a ‘dominant’ methodology is chosen, but which will be supported by other ‘dependent’ methodologies (Lindskog, 2012, p49). This ‘dominant’ methodology chosen would be Six Sigma and the ‘dependent’ methodologies supporting Six Sigma refers to the performance and improvement methods, such as DMAIC Method. 3. Overview of Six Sigma Six Sigma can also be seen as a business improvement methodology that helps an organization to focus on (Motorola University, 2007). One example of a company implementing the Six Sigma system is General Electric, whose their results achieved within the implementation in the first two years (1996-1998) include saving money and raising profit (Kotelnikov, 2007). These results are as following: †¢ †¢ Revenues rose to $100Show MoreRelatedAnalysis Of Ibm s Six Sigma1170 Words   |  5 Pages â€Æ' INTRODUCTION Six Sigma is a business management strategy originally developed by Motorola, USA in 1981. As of 2010, it enjoys widespread application in many sectors of industry, although its application is not without controversy. Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimising variability in manufacturing and business processes. It uses a set of quality management methods, including statistical methods, and createsRead MoreLean Teams And Six Sigma1546 Words   |  7 Pagesmanagement system, six sigma permeates all aspects of an organization. Many of those who have had the opportunity to participate in six sigma projects have experienced the transformation of six sigma principles and concepts into the fabric of the management system of the companies in which they are employed by witnessing improvements that will have continuous, long term influences within the company. This is accomplished by creating alignment within the company leadership. Six sigma offers a way ofRead MoreThe Six Sigma And Tools1648 Words   |  7 Pages2.3. Six sigma and tools The Six Sigma improvement method is problem-focused and its main objectives are decreasing scrap, earning income and creating value (Saghaei et al, 2012). Motorola developed this concept in 1986. There were three meanings of six sigma provided by Brue (2006). It is the level of quality that a process assures, it is a problem solving methodology and lastly it is a management philosophy. Alternatively it is also said to be a project driven approach to process and product qualityRead MoreComparing Lean And Six Sigma Alpha Sigma1640 Words   |  7 PagesResubmit question 2. Contrast and compare lean and six sigma sigma teams. You may want to consult your Six sigma Sigma textbook (The Six sigma Sigma Black Belt Handbook by McCarty, Daniels, Bremer and]] [Gupta) since it contains extended discussions about these teams. Thinks of what skills team members need to have, how the teams are organized, what kind of problems they solve. For instance, lean teams may solve sporadic problem while si x sigma sigma team may solve chronic problems that may not be obviousRead MoreSix Sigma Articles Essay1668 Words   |  7 Pagestheory/application/focus factors when comparing six sigma, lean and theory of constraints. Please elaborate your answer without writing article sentences, use you own words and demonstrate a comprehensive analysis. Making a comparison with a simple standpoint, the six sigma’s methodology is used to incremental improvement of existing processes, as it is the six sigma main tool, DMAIC. This tool is a strategy based on statistical quality, which gives much importance to data collection and accuracy of theRead MoreEssay about Managing Quality Improvement in Healthcare938 Words   |  4 PagesManaging Quality Improvement in Healthcare Healthcare providers strive to improve service quality by implementing various quality management programs. Customers tend to seek for higher quality of care when choosing treatments, providers, and health plans. For healthcare organizations that desire to provide high quality care and compete in the global market, choosing a quality management program to implement is critical for performance and efficiency. Many studies have been conducted to analyzeRead MoreLean Six Sigma Principles On Improving Turnaround Times At A Busy U.s. Infusion Clinic1074 Words   |  5 PagesResearchers Lamm, Eckel, and Amerine desired to explore the effectiveness of Lean Six Sigma principles on improving turnaround times at a busy U.S. infusion clinic. The team implemented a three-phase study in which they first analyzed turnaround times for a period of 12 months. Next, they implemented several Lean tools including a five-day Kaizen event to identify potential ways to reduce turn around times from 60 to the new goal of 45 minutes. During the last phase the researches implemented strategiesRead MoreSigma And The Cost Of Quality1735 Words   |  7 PagesIntroduction â€Å"Six Sigma† and the â€Å"Cost of Quality† to a manufacturing company is a systematic approach that increases profits and improves customer satisfaction rates by eliminating the root cause for defects or errors in all processes, by creating new and more effective processes. To the health care company, â€Å"The Cost of Quality† may look and feel slightly different, yet in many ways both are the same. Both companies may operate and produce different products, and operate in two different marketRead MoreOrganizational Quality Improvement1310 Words   |  6 PagesOrganizational Quality Improvement Plan Part III Lauren Dickman HCS/588 December 13, 2010 Jennifer Culotta Methods and information technology for quality improvement Various methodologies exist for the integration of quality improvement strategies into performance improvement measures. With concepts of total quality management (TQM) and quality improvement (QI) being introduced to health care organizations; administrators have had to decide which methodology is right for the organizationRead MoreProject Engagement With Companies Strategic Goals Essay1587 Words   |  7 Pagesimplementing Six Sigma is to consider a level of project engagement with companies’ strategic goals. Customer satisfaction is one of the key factors that need to be considered while setting strategic goals. Customer satisfaction determines how successful businesses are performing in comparison to its competitors in the market. Considering the performance of IT Call Center, it can be found that they have perfectly defined and matched their Six Sigma project with their strategic goal. Six Sigma team has

The Effects Of Drugs And Its Effects On Society - 1670 Words

Many people don’t consider the real effects of drugs when they are about to use it. In today’s society, there are various types of drugs or substances that are either on the legal or illegal side. Just because a substance is legal does not make it beneficial and vice versa. The main categories of drugs are stimulants, depressants, and hallucinogens. The drug category that I would like to focus on is stimulants. The most heavily and frequently used stimulant, which is caffeine. Never does it cross someone’s mind that caffeine can be considered as a drug. However, various studies have shown that it causes both physiological and behavioral behaviors and can also cause dependence. Currently in the U.S. coffee is a legal beverage or as studies have shown, a legal drug. It is also the second most legally traded product in the world (Avey, 2013). An estimated 2.25 billion cups of coffee are consumed almost ritually every single day worldwide (Avey, 2013). With all of the Starbucks, and Dunkin Donuts on every single street corner, its not shocking that New Yorkers drink 7 times more coffee than any other U.S. city. New Yorkers are constantly moving from one thing to the next, relying on that energy boost from the dark, sweet drink. Because caffeine is currently legal and has few believed advantages, it is not placed under any schedules. However, when you compare its effects and its similarities to other abuse related drugs, it’s clear that there are more negative effects thanShow MoreRelatedThe Effects Of Drugs And Its Effects On Society1221 Words   |  5 Pages Now, there are lots of teenagers all over the world /use drug. And it /becomes a very n ormal thing in social. Why /the teenagers want to use drug? Drugs/ blur memory, causing blank spots. When a person tries to get information through this cloudy mess, he can’t do it. Drugs make a person feel slow or stupid and cause him to have failures in life. And as he has more failures and life gets harder, he wants more drugs to help him deal with the problem. There are two very important reasonsRead MoreDrugs And Its Effects On Society932 Words   |  4 PagesDrug use in America has affected society as a whole since the 1970’s, when drugs such as cocaine and other narcotics became relatively easy for user to purchase in amount unheard of prior. No matter what the choice of drug a user is addicted to, the effects of drug abuse has the same outcome; to include addiction, depression, and criminal activity which affects everybody in society from small children to an adults. Kids today are subject to be exposed to illicit drugs any day of the week. WhetherRead MoreDrugs And Its Effects On Society1462 Words   |  6 PagesIntroduction Certain drugs have become very popular among teens at dance clubs, parties, raves, and other crowded social gatherings. These drugs are known as â€Å"club drugs†. The most commonly used substances amongst teens are MDMA (ecstasy, or molly), GHB, and Methamphetamine (meth). The effects of these different drugs vary. Stimulant drugs such as ecstasy and meth affects the hormone in your body, known as serotonin; which controls sleep cycles and the feeling of happiness. Teens often mix ecstasyRead MoreDrugs And Its Effects On Society955 Words   |  4 PagesDrugs are as defined by the dictionary as a medicine or other substance which has a physiological effect when ingested or otherwise introduced into the body this means that everything from coffee to alcohol can be considered a drug. Drugs have been made and used by people since 5000 B.C by the Sumerians. They have had both a positive and negative impact on society, they can help us get over a sickness within a couple of days, however drugs have also been used as a way to get high. Using drugs, noRead MoreDrugs And Its Effect On Society1645 Words   |  7 PagesThe official definition of drugs is a substance which has a physiological effect when introduced to the body. Drugs have been a part of human culture since the beginning of recorded history. People have use drugs for all sorts of reasons whether it is for a religious mind altering ritual, to save someone’s life or just to make themselves feel better, and they are still widely prevalent in today’s culture. We all know someone who currently partakes in drugs whether they choose to share that informationRead MoreDrugs And Its Effects On Society1869 Words   |  8 Pageshistory, the use of drugs, both for recreational and medical purposes, has had a profound impact on society that is still prevalent in today’s society. After the end of the Second World War, the pharmaceutical industry was booming and drugs became this tool that c ould solve all of human’s problems. Many companies invested in this area which led to many breakthroughs for cures; however, during this time period, another branched stemmed from all of this glory of drugs. The 1960s drug culture was a majorRead MoreThe Effects Of Drugs And Its Effects On Our Society1004 Words   |  5 Pagesmajor impacts in our society, and fears that emerge because of the effects. Drugs has been one of the issues that has caused fear in our world. Watching television shows provokes drugs, shows development of drugs, and the experiment of drugs. Thinking this is bad, this is just the start. To top this all of, there is even medicine that uses Marijuana! Is our government in control in this aspect! Come on! This is out of the ordinary. There are film discussing the effects of drugs and now the governmentRead MoreDrugs And Its Effects On Society893 Words   |  4 PagesDrugs are everywhere. There are many reasons why people turn to drugs, such as peer press ure, depression, and etc. Using drugs is a choice that many people decide to do. Drugs can get prescribed by people such as doctors and psychiatrists and those drugs can be used to help cure the body. Even with those prescribed drugs some like to abuse them, which can have a negative effect on our bodies and can lead to many different things. Things such as possibly going to jail, losing your job, ruin relationshipsRead MoreDrugs And Its Effects On Society1468 Words   |  6 PagesMethamphetamine, a drug that for years has been sweeping our nation and claiming countless lives. Why are people turning to this drug knowing what it can and will do to you? This drugs affects so many lives around the world, even those who choose to not do it. I, myself, have been affected by this drug. Throughout all my teen years I watched own my mother fall to this awful addiction. This drug will completely rip lives apart, destroy families, and ultimately murder its user. I was lucky, in a wayRead M oreDrugs And Its Effects On Society1413 Words   |  6 PagesFor thousands of years, drugs have been used in some way, form, or fashion. Drugs have not always been the way that we know them to be today, but people have been creative and have used what has been made available to them to use drugs, whether they knew it or not. Most of these early drug-users either used out of tradition and a ritualistic culture or because there was a need for some type of healing. The drug and stimulant, cocaine, is extracted from the coca plant. This plant is native to South

Task Based Language Teaching Methods Essay - 3369 Words

Chapter 1 Introduction 1.1 Background Many teaching methods have thrived and languished in history. Task-based language teaching (TBLT), which is believed to assist students to learn English more effectively via meaningful communication rather than systematically focusing on grammar rules (Ellis 2003)ï ¼Å'has gained massive popularity around the world and is viewed as a â€Å"new orthodoxy† (Littlewood, 2004) over the last two decades. A proliferation of books in relation to TBLT have been published (Prabhu,1987; Candlin Murphy,1987;Crookes and Gass,1993;Estaire and Zane,1994; Bygate, Skehan and Swain,2001; Ellis,2003; Jonhson,2003; Nunan,1989,2004; Leaver and Willis, 2005; Van den Branden 2006; Garcia Mayo,2007;Eckerth and Siekmann,2008; Willis Willis, 2008; Van den Branden , Bygate and Norris, 2009; ), recording the significance of Task-based language teaching by these researchers and teacher educators. Meanwhile, abundant research on the application of TBLT (Ã¥ ¼â€¢Ã§â€ ¨) has been carried out around the world. As Ellis (2009) states that â€Å"TBLT has progressed well beyond theory into actual practice† (p. 222) Therefore, it appeared on the governmental educational policies and was compiled into curricula and commercial syllabuses alike as a central teaching method. Nunan (2004) states that â€Å"if official documents are to be believed, TBLT has become a cornerstone of many education institutions and ministries of education around the world† (p.13). In Nunan’s (2003) survey of theShow MoreRelatedTask Based Language Teaching Methods901 Words   |  4 Pages 2. Task-based language teaching Task-based language teaching (TBLT) is regarded as a natural extension of communicative approach (Harmer, 2007). Task is defined as ‘a piece of classroom work which involves learners in comprehending, manipulating, producing or interacting in the target language while their attention is principally focused on meaning rather than on form’ (Nunan, 1989:10). In other words, a task emphasizes on language communicative functions and requires participants to convey meaningRead MoreTeaching And Learning English As A Foreign Language774 Words   |  4 PagesCourse: Advanced Teaching Methodology Name: à ¢n Ä Class: 2016-B Instructor: Æ °Ã† ¡ng, Ph.D. Taking the course of MA on TESOL, whose design is research-oriented, post-graduates are required to accomplish credit subjects including Advanced Teaching Methodology. It is obviously an opportunity for master students not only to review what they have learned but also to have an in-depth in sight of issues related to teaching and learning English as a foreign language. Two-third ofRead MoreThe Pedagogical Aspects Of Communicative Language Teaching984 Words   |  4 PagesCommunicative Language Teaching This essay will take just a peek at some of the pedagogical aspects of Communicative Language Teaching and the teachers therein. As the U. K. entered the common market (EEC) in the early 1970s. A sharp rise in demand from our new European neighbours for The English Language landed on our shores. Due to the modernization of secondary schools not only in Europe but indeed worldwide, languages were a hot commodity and many were on offer, English being most sort afterRead MoreLanguage Pedagogy And Teaching Strategies1464 Words   |  6 PagesLanguage Pedagogy and Teaching Strategies Recent decades has witnessed the method of language teaching in Second Language Acquisition (SLA) has a shift from grammar-translation toward Communicative Language Teaching (CLT) (Brandl, 2007). During the 20th century, as increased attention was paid to the demand of communication skills, grammar-translation method which emphasizing knowledge of grammatical rules and translation activities was no longer effective (Richards Rodgers, 2001). In AustraliaRead MoreThe Task Based Language Teaching Approach1673 Words   |  7 PagesIntroduction The Task-Based Language Teaching Approach (TBLT) has been China’s promoted teaching method since 2001. As a novice teacher, I used a standard process which I learned from a mandatory training course on TBLT organized by teacher educators in Beijing, China. During the first two months of adapting TBLT into my teaching, I came across three major challenges: unmotivated students, little acquisition of forms and individual differences between learners. A reflective essay based on my personalRead MoreSpeaking And Writing Based Language Teaching843 Words   |  4 PagesWith Task-based Language Teaching (TBLT) language teaching is accomplished through tasks which have a specified result or outcome. Further to that, students should be clear on the purpose of the task and the expected outcome. In TBLT, teachers define and guide the tasks and model the correct language forms however, student self-correction is desired. Evaluation is through task completion and presentation. With t he use of TBLT, the types of tasks selected can be categorized as focused vs. unfocusedRead MoreEnglish As A Foreign Language1136 Words   |  5 Pages Grammar teaching has an irreplaceable place in English as a Foreign Language (EFL) because of the fact that without grammar learners can use the language in a limited way; they may not achieve to fully express their intentions or meaning of the messages in a communication activity. It has been seen that throughout the history, the attention given to grammar teaching has differed from time to time. In the beginnings of the twentieth century, grammar teaching was regarded so essential that other aspectsRead MoreThe Teaching Of English As A Foreign Language Essay1326 Words   |  6 Pagesprimary global lingua franca (Darasawang, Reinders, Waters, 2015, p. 2) †. The teaching of English as a foreign language (TEFL) in Thailand has initially started from the mid-19th century and it still plays the predominant role in Thai educati on nowadays. The national English curriculum made a major paradigm shift in mandating English as a compulsory subject in schools and universities. The English teaching method was influenced by western educational ideology of ‘values system’ or ‘classical humanism’Read MoreA Communicative Approach to Language Teaching1512 Words   |  6 PagesCommunicative Approach to Language Teaching Objective The objective of this study is to examine the general context of the communicative approach in language teaching and describe the key features of a communicatively innovative approach with a focus on form and to describe in detail four central elements of an innovative and progressive approach to second language teaching. This work will additionally discuss the challenges found in relation to the application of these two elements. Introduction Read MoreLanguage Teaching Methods Used Throughout The History Essay1708 Words   |  7 Pagesuse of the L1 in language teaching methods In this section, we briefly review some of the methods used throughout the history of language teaching (Cook 2001; Richards and Rodgers 2001; Howatt 2004 ). The reason for this review is twofold: firstly, it explains the history as well as the development of the debate surrounding the use of the L1. Secondly, since one of the questions that prompted the new directions in language teaching is ―what should the role of the native language be? (Richards and

Master And Margarit The Genre Of Russian Socialist Realism

Master and Margarita The genre of Russian Socialist Realism is firmly tied up with the political change that occurred in the Soviet Union in the 1920s and 30s, after the Bolshevik Revolution, and has ruled every single masterful field until the separation of the Soviet Union in 1991. With the new post-progressive philosophies that were being put into utilization by the Soviet government to energize the procedure of collectivization and industrialization, the requirement of Socialist Realism as a primary scholarly classification was one of the critical methodologies produced. This contributed to the push to make the new man who might ultimately share in â€Å"an excellently chronicled try called assembling Socialism.† The Communist Party implemented an order throughout all of the USSR, declaring that the primary-worthy literature must be one that is â€Å"socially zakat,† in order to signify â€Å"social request/charge.† This in turn infiltrated and absorbed nearl y all Soviet subjects, substance, and styles of composing that recreated the goals of social development. The literature that was appropriate for the Party s points and held fast to their demand is classified as the Socialist Realism sort. As a result, essayists who took after a â€Å"socially zakat† style and delivered work were considered representatives of the state and any author disagreeing from this sort would rarely be distributed. In some more severe cases, these authors could be labeled as enemies of the state if their

Audience enjoyed watching the play Essay Example For Students

Audience enjoyed watching the play Essay In my first scene with Duncan we had to act like teenagers, which wasnt too difficult seeing as we are teenagers. As Linda I was a lot more confident and knew what I wanted, whereas Mickey seemed very shy and not quite sure how to act around girls. So I used very flirty movements, for example when Mickey went and sat on the wall, I went and sat very close and kept close even when he tried to move away or change the subject. In my second scene with Duncan I had to be a lot more forceful and threatening. I still maintained my strong nature. Every time Duncan tried to overpower me or grab hold of my arm I would immediately throw him off. This showed that even though I may have looked scared, I was still strong and confident and would not let him get to me. We will write a custom essay on Audience enjoyed watching the play specifically for you for only $16.38 $13.9/page Order now As Mickey was quiet during his teenage years, he had to stand quite far away from me, and not get too close. This would show the audience that he was scared of confrontation with members of the opposite sex, and was actually quite shy. I had to show that I was the complete opposite and always get very close to Mickey looking him straight in the eyes whilst talking to him, this showed that I wasnt scared of the confrontation and liked Mickey. In my first scene a lot of it was walking around, but there was some sitting as well. We didnt need that many props because the scene was set outside. We didnt want half of the scene to just be sat down though, because this would get rather boring for the audience. To remedy this we made Linda get up when Mickey started talking about the boy in the window, so she could wander round the field. In our second scene in the house, there was lots of movement. Mickey was walking around the kitchen looking for the tablets, and so Linda was just sat there watching we had her trying to stop him, following him and trying to reason with him. The only props we needed for our first scene was a stile. We added a bench so the stage didnt seem completely empty. In our second scene we had to have kitchen props. I had to be getting Mickeys lunch ready, so I had to have a lunch box, I also had to be hiding his tablets. These props helped with the scene because Mickey could show his anger by throwing the box and demanding the tablets that I had. The costume in the first scene was very important. We had to show that Linda was a bit common. She had to wear a very short skirt, high heel shoes and a tight shirt. We had both come from school so Mickey had to have on his plain black trousers and shirt. He also had a cap on, this was to contrast with the scene he had done as Eddie. Wearing my costume changed the way I acted around Mickey because it enabled me to be a lot flirtier than I otherwise would have been. In the second scene Linda and Mickey were a lot older and now had a child. We had to show this in the way they both dressed. There wasnt time for a full costume change because the scenes were one after another. I pulled my skirt down so it was knee length and put on a jumper over my shirt. This enabled me to act differently again; I was able to move around a lot more because the skirt wasnt as short. Our costumes didnt really need any research because they were set in the 80s, so it wasnt too difficult to get the right costume. In the first scene Linda had to have very dark eyeliner and big eye shadow, to represent the young makeup, and also lots of lipstick. During the very quick scene change I wiped off some of the eye shadow and lipstick, so it didnt look as adolescent. .u0ea2f7091ecdae255b2fbcd1c484a1ad , .u0ea2f7091ecdae255b2fbcd1c484a1ad .postImageUrl , .u0ea2f7091ecdae255b2fbcd1c484a1ad .centered-text-area { min-height: 80px; position: relative; } .u0ea2f7091ecdae255b2fbcd1c484a1ad , .u0ea2f7091ecdae255b2fbcd1c484a1ad:hover , .u0ea2f7091ecdae255b2fbcd1c484a1ad:visited , .u0ea2f7091ecdae255b2fbcd1c484a1ad:active { border:0!important; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .clearfix:after { content: ""; display: table; clear: both; } .u0ea2f7091ecdae255b2fbcd1c484a1ad { 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; } .u0ea2f7091ecdae255b2fbcd1c484a1ad:active , .u0ea2f7091ecdae255b2fbcd1c484a1ad:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .centered-text-area { width: 100%; position: relative ; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .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; } .u0ea2f7091ecdae255b2fbcd1c484a1ad:hover .ctaButton { background-color: #34495E!important; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0ea2f7091ecdae255b2fbcd1c484a1ad .u0ea2f7091ecdae255b2fbcd1c484a1ad-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0ea2f7091ecdae255b2fbcd1c484a1ad:after { content: ""; display: block; clear: both; } READ: Play of social criticism EssayFor the first scene, which was set outside, we needed quite a warm bright lighting. We had to change for our next scene, which was in a kitchen, so we didnt need the lighting to be as bright or forceful as outside.  We didnt have that many problems that arose during our rehearsal. Linda had to get her foot stuck in something. We felt that it would be more realistic if she were to get her foot stuck in some kind of stile, so we used a chair in which she could get her foot stuck in, a bit like a stile. This enabled Linda to hold her arms outstretched and get Mickey to help pull her out. It seemed a lot more realistic than getting her foot stuc k in the grass. We also had a problem, that my skirt was that short if we sat down, as if to sit on the grass the whole audience would be able to see up my skirt, but it was that length for a reason, so we had to keep it. We put two chairs up, like a bench for us to sit on. During our second scene we didnt have any difficulties. When we started to rehearse, we had great difficulty in getting the whole group together, there was always one person missing, this was due to illness. Luckily towards the end of our rehearsing time, everyone was back to normal and fit and healthy. I was very pleased with the final performance. We all did really well. We were all really nervous before we went on stage. Some of our group had never performed on stage in front of an audience before; I luckily had, so I wasnt too worried. The audience picked up with the humour of the first scene. Because we were acting people of our own age the audience could identify, and found it very funny! I kept the accent going all the way through my scenes, but remembered not to talk too fast. At one point Duncan and I got our lines in the wrong order, but we managed to carry on and didnt lose the scene. I felt that we could have had more movements in the scenes, like we had done in rehearsals, but we seemed to stay in one place and hadnt use the full space on stage.  Altogether I felt that the performance went very well on the night, and that the audience enjoyed watching the play.

Overvaluation In Australian Housing Market â€Myassignmenthelp.Com

Question: Discuss About The Overvaluation In Australian Housing Market? Answer: Introducation The past weeks have been good for the Australian dollar (AUD) as it has been the best performing currency globally which has put entities such as the Reserve Bank at ease. However, the same could be said for all economists as some of them feel that the levels the Australian dollar is trading at cannot be sustained. When put against the US dollar, the Australian dollar is up 6 percent and compared to the British pound sterling, Indonesian rupiah and the Chinese renminbi it is up 5 percent. Against the European Euro, the Australian dollar is up 4 percent and the Japanese yen 2 percent (Robin, 2017). According to a statement by the Reserve Bank of Australian (RBA) regarding interest rates, since 2013, the dollar has been losing its strength, and that has considerably helped the countrys economy as it transitions to the final stages of its mining investment boom. We would not have been possible to adjust as well as we have if the exchange rate is appreciated. However in response to this statement, a currency strategist working at the NAB feel that the RBA did not consider one important thing, the fact the Australian dollar has experienced a steady appreciation from September 2015. He states that it will be obvious to see that the Australian dollar has considerably risen if you study it using the trade-weighted basis. His statement does not support what Philip Lowe, governor of RBA said which indicated that it would be difficult to establish whether or not the exchange rate has gone up too high. There are other strategists who are in support of Mr. Low such as the chief current str ategist at Westpac who states that the period in which you run a model determines the value of a current and he has found that the Australian dollar is somewhat undervalued. The Australian exchange rate is floating; what this means is that multiple factors might be causing its change repeatedly or that those factors are fixed to another currency, and although they still float, they move in synchronization with the currency to which they are fixed. It is important for Australian investors to know the value of their home currency has it enables them to evaluate investments that are valued at the foreign dollar. For example, if an Australian investor wants to invest in the U.S, he will have to determine whether or not the AUD to US dollar exchange rate is profitable as a declining AUD could make could positively impact the foreign investment in terms of value. Similarly, an increasing AUD could decrease the value of the foreign investment. In the forex market, supply and demand are used to determine the value of the Australian dollar (Reserve Bank of Australia, 2017). The level of demand that is present in correlation to the supply of the AUD will determine the Australian dollars value when put against another currency such as the US dollar, the British pound sterling or the Chinese renminbi. For instance, if the demand for the AUD by the Chinese rises, the supply-demand relationship will cause the price of the AUD to increase when put against the Chinese renminbi (Fry and Voukelatos, 2010). The value of the Australian dollar is influenced by many factors. The countrys economy is at the mercy of commodities including grains and metals. Data regarding mine output, the cost of metal, crop planting, yields and the weather is capable of increasing or decreasing the value of the Australian dollar. Further, how much strength the AUD has is determined by the commodity cycle, how exposed it is to Asia and the slightly countercyclical position the AUD has in relation to other important currencies such as the US dollar. For example in the article, the value of the Australian dollar might have risen due to a high demand of natural resources in India and China, but if the demand were to decrease, it would fall. In general, commodity prices that are high develop, it gives developed countries in Europe, North American as well as Japan the same burdens as the would have if they were in a recession because there will concern regarding the sustainability and growth of their economies. But the Australian economy is not among them as it looks healthier most of the time. By and large, while there have been very sensational cost falls, especially in late 2008, there were for the most part enduring increments in ware costs in the years following 2008. There is no uncertainty item costs will stay unpredictable for quite a while to come, with developing interest for products from China and India and also the unavoidable changes sought after that go with the adjustments in the financial prosperity of the created economies like Europe, Japan and the US. It has been contended that the Australian dollar is exaggerated at present, given acquiring power equality measures and that relative customer value record (CPI) developments propose a long haul US dollar cost of at around $0.77. While the Australian dollar remains at a cost of around US$1.00, our fare enterprises think that its less beneficial to offer their items abroad, This incorporates the ware makers. A fall of around 25% would have a significantly beneficial outcome on exporters.The Australian dollar is frequently contended to be basically a product cash, thus if the world cost of items fall then it is normal that the Australian dollar will deteriorate too. On the off chance that these developments are decently firmly synchronized, at that point falls in item costs as long as Australian makers are as yet offering their wares may have minimal genuine effect on the Australian dollar benefits earned by the ware makers, while making our different exporters more aggressive on the world market. Late monetary ware value vacillations unquestionably reflect changes in free market activity, however it is hard to state what the long haul impact will be. A 5% fall in product costs today could be trailed by a 5% rise tomorrow. These are absolutely unstable circumstances. An overvalued currency means that it is too high to compare to the state in which the economy is in; an overvalued AUD will mean that Australias exports will considerably expensive as the local goods will be more expensive making imported products very popular as they will be cheaper. Due to the overvalued AUD, there will be more spending on imports while the domestic demand will reduce. So in this case, due to the high costs of exporting a product from Australia, the demand for alcoholic beverages by the United States will significantly reduce; as a result, my income will go down. An overvalued currency is determined by analyzing the purchasing power parity (PPP) which at more sophisticated levels considers the GDP. An overvalued currency will be greatly beneficial to Australia when the economy is booming as it will help decrease inflationary pressure. Another benefit that is also a disadvantage is that an overvalued currency is that it enhances the values of domestic products in relation to foreign currencies. An overvalued currency will be very problematic for Australia in case of an economic recession or when the growth is slow as the country will have to deal with a lot of deflationary pressures. Another disadvantage of the overvalued AUD is the discrimination regarding exports which will reduce exporters capability and willingness to compete in international markets as the largest percentage of their costs of production will be in AUD (Shatz, Tarr, n.d.). An overvalued currency can interfere with Australias economic growth as it will reduce the level of productivity as exporters and importers will be disadvantaged over time by the overvalued exchange rate which will impact their productivity, as a result, interfere with their competitiveness. The next disadvantage is that the government may be misled by the overvaluation and inefficiently allocate the foreign exchange. Also, an overvalued currency may create a serious economic recession for Australia due to the tight and severe moneta ry policy that will be used as a defensive response to the overvaluation. An exchange rate showcases the value of a countrys currency when put against the value of another nations currency (Amadeo, 2017). An exchange rate is an important component of the Australians economy as it impacts the equilibrium of trade between Australia and the investment policies that influence the country. It can be assumed that the Reserve Bank of Australia of want to keep the exchange rate at US 72C because it is after stability in order to make the country more appealing for foreign capital. The best way to accomplish this is to create a fixed exchange rate by tying the value of the AUD to another currency or a popular commodity; for instance pegging it to the U.S dollar as it is widely used in international trade. This might mean that the Reserve Bank of Australia might have to augment the supply of money or decrease it if necessary in order to uphold the fixed rate. Having a fixed exchange rate can be beneficial for the Australian dollar as it will give it the stability it needs especially as it has always been said to be volatile and unusually counter-cyclical. Investors will always know what the AUD is worth and as a result, the countrys markets will attract more direct foreign investments as they wont have to hedge the currency risk. Fixing the AUD to the US dollar will allow Australia to evade inflation as it will profit from the strength of the economy of the United States. If the Australia continues to operate without fixed inflation, then the AUD will slide causing the price of imports, especially from large countries to increase significantly. So I believe that this action would be effective for Australia. Having a fixed exchange rate will enable investors to get the same amount when exchanging their money in other currency as well as make it easy to determine the exact amount you will get. But, having a fixed exchange rate also have its own side effects. One disadvantage of a fixed exchange rate is that it can be costly to uphold especially for countries who do not have sufficient foreign exchange reserves, but Australia could manage as the country's foreign exchange reserves are relatively moderate by international standards. Another disadvantage is that speculators could make a target out of the Australian dollar. As a result, they can think that it is easy to short the AUD which will artificially reduce its value. If this were to happen, the Reserve Bank of Australia would have to convert its foreign exchange in order to drive up the value of the AUD. In the case where the RBA does not have enough, it will have to increase the interest rates. But the situation will not be ideal for the country as it will create an economic recession as what happened to the economy of Switzerland when the country decided to stop fixing the Swiss Franc to the Euro, and it causes it co nsiderably drove the value of the currency down (Amadeo, 2017) References Amadeo, K. 2017. Fixed Exchange Rate: Definition, Pros, Cons, and Examples. Retrieved from https://www.thebalance.com/fixed-exchange-rate-definition-pros-cons-examples-3306257 Fry, R.A., Martin, V.L. and Voukelatos, N., 2010. Overvaluation in Australian housing and equity markets: wealth effects or monetary policy?.Economic Record,86(275), pp.465-485. Reserve Bank of Australia. 2017. The Exchange Rate and the Reserve Bank's Role in the Foreign Exchange Market. Retrieved from https://www.rba.gov.au/mkt-operations/ex-rate-rba-role-fx-mkt.html Robin, M. 2017. Is the Australian dollar overvalued?. Sydney Morning Herald. Shatz, H., and Tarr, D. (n.d.). Exchange Rate Overvaluation and Trade Protection: Lessons from Experience. Retrieved from https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.483.2824rep=rep1type=pdf