Qualities of Successful Women

Qualities of Successful Women Introduction The contribution of women in the development of the countries has been significant the world over during the last hundred years. In India, women are playing a major part in the economic development during the last four decades. The Indian women have gradually entered in all the spheres and there is no sector where they are lagging behind. BFSI Banking, Financial Services and Insurance sector is no exception. BFSI embraces all type of Banking activities, Insurance, Stock Market, Mutual Funds and all kinds of Financial Institutions. An attempt is made in this paper to trace the role of women in Finance sector and their achievements in the last four decades. Objectives The primary objective of this paper is to study and consolidate the contributions of women in Financial sector and also attempt to correlate the qualities of women that have made them successful in their professional careers in Finance. The secondary objective is to detail some organizations which have realized this aspect and have given opportunities to women to advance in their careers in Finance. What is BFSI? BFSI includes Banking, Financial Services Insurance. The scope for BFSI in India is very promising as on date. According to a study, 51 percent of the Indian population do not possess bank accounts and lack access to financial facilities. There is a great potential for banks in the rural markets. Though the insurance sector achieved about 15 percent growth rate in the last year, Indias insurance accounts for just 0.6 percent of the GDP as against the world average of 2.14 percent. The main reasons for low penetration are low consumer awareness, untapped rural markets and constrained distribution channels. India ranks 136th on penetration levels and lags behind China (106), Brazil (85) and Japan (61). The U.S is ranked 9 in this regard. The scenario of insurance business in India is now changing and the insurance business is growing at an impressive rate. There are 21 Life Insurance and 19 General Insurance companies in both public and private sector put together. Microfinance institutions provide poor people with small amounts of credit at reasonable interest rates. The microfinance institutions can be financial cooperatives, rural banks and NGOs. Although credit is an important part of microfinance, it is just one of the diverse financial services that poor people need to improve their lives. Poor people also need saving services, basic insurance options and affordable remittance systems to best manage their assets and generate income. How can women contribute in Financial Sector? Women leaders in Finance have taken leadership to a new level. Not that men dont excel at being leaders. According to a survey by New Jersey based Caliper Corporation, a new paradigm is evolving and women are in the forefront of creating the same. Inclusive financial growth can be attained if the banks touch upon the bottom of the pyramid which consists of approximately 75 percent of the Indian population. We can say that India is divided into two parts one group of privileged class of people having access to the best of the financial facilities and another class of disadvantaged people unable to get the financial facilities. Women are becoming active and popular in all fields and the Indian Stock Market is no exception. The modern Indian women want to save money and are also prepared to take risks. Women at home i.e. the home makers follow the stock market with the help of internet and invest wisely. The home makers also look at the household products which are very useful and of good quality and invest in those companies. For example, when scotch brite was introduced in the market, they found out which company introduced the same and invested in that company. The product was a success and they gained from their investments. Only a very small fraction of the rural Indian population has access to the Microfinance services. Loans as little as Rs. 5000 can give poor people a chance to set up their own small business and create more jobs. A study reveals that 11 percent of the companies across sectors in India had women CEOs. 54 percent of these CEOs are from the financial services sector. Worldwide organizations encouraging women in BFSI. Women Advancing Microfinance International (WAMI) launched in 2003 is the only global network of and for the advancement of individual women in the microfinance industry. One of their core values is to advance and support womens leadership in the microfinance industry through education and training, by promoting leadership opportunities and by increasing visibility of womens participation and talent while maintaining their work life balance. In India also we have organizations to promote microfinance for women. The Indian School of Microfinance for Women headquartered in Ahmedabad was started in June 2003 to address the capacity building requirements in the microfinance sector. The School particularly focuses upon the lives of women who are the primary participants in microfinance interventions. The School does not look upon microfinance as a means of poverty alleviation but also as a means for womens leadership and the building of womens assets. Women in Banking and Finance (WIBF) is a non profit professional organization committed to empowering its members in the banking and finance industry to realize their full potential. The organization is headquartered in London and was founded in 1980 by five members viz Jane Bradford, Susan Law, Lorraine Paddison, Margery Povall and Anne Watts. The organization is run by a highly professional management team comprising of members who give their time on a voluntary basis. All members are encouraged to join the management team to develop their project management skills. Mann Deshi Mahila Sahakari Bank (MDMSB) is a unique cooperative bank run by and for women in Mhaswad, a village in Satara District of Maharashtra. This 10 year old bank has created 16720 women entrepreneurs in the region around Mhaswad. The bank enjoys an excellent repayment rate of 97.5 percent. Successful women in BFSI. One Organization in the BFSI sector in India that can boast of encouraging and able to get the services of women at all levels including the top management is undoubtedly is the ICICI group. K.V.Kamath is one of the lucky persons to be surrounded by women. He has been responsible for empowering many women in ICICI. Out of 11 top management executives reporting to the MD Chanda Kochhar, 3 are women. About 40 percent of the senior management is women and about 25 percent of the total staff is women. The current Managing Director of ICICI bank, Chanda Kochhar is known to be an assertive woman who has climbed the ladder in ICICI both the hard and smart way. She joined ICICI Bank in 1984 as a Management Trainee. She knew nothing about retail banking when she took over the retail operations in ICICI Bank in the year 1998 at the age of 36. She was ranked number 37 in the list of worlds most powerful businesswomen in the year 2006. Shikha Sharma, the current CEO of Axis Bank was the Managing Director of ICICI Prudential and played a major role in the growth of ICICI Prudential. She is an early achiever, fast learner and fiercely competitive. She was responsible for setting up the joint venture with U.K based Prudential and bringing ICICI Prudential in the Indian Insurance Map as the largest private sector insurance company in the country. The first woman to rise to a senior position at the bank was Lalita Gupte, who was hired in 1971 and retired as Joint Managing Director. She played a leading role in transforming ICICI in the 1990s, and then started the banks international business in 2001, servicing overseas Indians and expanding investments abroad. That business now accounts for 15% of ICICIs $56.3 billion in net assets. She joined Alstoms Board of Directors in 2010. She is also the non-executive chairman of ICICI Venture Funds Management Company. Madhabi Puri-Buch joined ICICI Bank Ltd in project finance department in 1989. She served as Senior General Manager of ICICI Bank since 2003. She serves as Head of Operations and Group Corporate Brand Officer of ICICI Bank Ltd. She is in charge of Retail Asset Operations and the Product and Technology Group in the Wholesale Banking Group of ICICI Bank. She has been Chief Executive Officer and Managing Director of ICICI Securities since February 1, 2009. Kalpana Morparia now is the Head of India Operations of JP Morgan Chase Co. She joined the legal department of ICICI in 1975 and became a board member in 2001. She was appointed as Joint Managing Director of the bank in 2001. She played a key role in ICICI Groups capital raising exercise as well as the merger of ICICI with ICICI Bank in 2002. After 33 years of service with ICICI, she joined JP Morgan in 2008. Renuka Ramnath was the Head of one of Indias largest private equity fund ICICI Venture. She is often referred to as the mother of Indian private equity. She quit ICICI venture in 2009 to setup private funds with former executives of Indian PE industry. Ramnath has been the Managing Director CEO of ICICI Venture since 2001. During her career spanning over 20 years with the ICICI Group, Renuka has spearheaded various business initiatives. She began her career at the Merchant Banking division of ICICI and then headed the Corporate Finance and Equities businesses at ICICI Securities, an investment banking JV between ICICI and JP Morgan. Vishakha Mulye is currently the Managing Director CEO of ICICI Venture Funds Management Company Limited. Mulye was earlier the Executive Director of ICICI Lombard General Insurance Company Limited and the Group Chief Financial Officer of ICICI Bank Limited. Mulye is a Chartered Accountant and joined the ICICI group in 1993. She has worked extensively in the areas of project finance, structured finance, treasury, corporate planning and strategy, investor relations and resolution of distressed assets. She played a key role in the merger of ICICI with ICICI Bank, which led to the creation of the second largest bank in India. Between 2001 and 2005, she set up ICICI Banks structured finance business. This pioneering effort led to the development of an active securitization market in India. During this period, she was also responsible for ICICI Banks client-related treasury and markets operations, capital markets business and relationships with domestic financial institutions and multilat eral institutions. Mulye received the award for Most Powerful Women in Indian Business   2007 from Business Today. The World Economic Forum also selected her as a Young Global Leader for the year 2007. Renu Challu is the current Managing Director, State Bank of Hyderabad. Meera Sanyal is the Country Head Royal Bank of Scotland. Manisha Girotra is Managing Director and Chairperson for Swiss bank UBS in India . Renu Sud Karnad is the Managing Director of HDFC Ltd. Naina Lal Kidwai is the Group MD and Country Head of HSBC in India. Ashu Suyash is the MD and Country Head India of Fidelity International. Tarjani Vakil, former Chairperson of the Exim Bank, is one of the distinguished Indian bankers. She is the first women to head any large bank in India. In 1997, she was recognized by KPMG Worldwide Business as one of the top 50 women to prove her valor in the business. Through the recent economic meltdown and global recession, Reserve Bank of India had two women Deputy Governors Usha Torat and Shyamala Gopinath. Qualities in women that enables them to be successful in BFSI sector: Retail banking is more of relationship marketing rather than transactional marketing. Women excel at relationships. The nurturing and adjusting attitude of women flows into the workplace as well. Women are more practical and moderate risk takers. Women are good listeners and good learners. Women are more resilient and good at learning from setbacks. Women display better empathy and are able to place themselves in the shoes of the customers. Caliper Corporation, the New Jersey based Management Consulting Firm have made the following observations based on their study. Women are more persuasive Women are quick to learn from adversity Women demonstrate an inclusive, team building leadership styles of problem solving and decision making. Women are more likely to ignore rules and take risks. Suggestions for further enhancing the contribution of women in BFSI. The concept of Home Offices should be encouraged so that women may  contribute while raising families simultaneously Flexi time options should be made available to women Affluent Urban women should set up NGOs, Travel to the rural parts and  create awareness about the scope and importance of BFSI sector. Extensive training should be given to the rural women to take up careers  in finance The financial services companies should target the rural households  through the womenfolk. All women Regional Rural Banks should be encouraged. Conclusion It is observed from the secondary research that more and more women are actively participating and contributing to the BFSI sector. Since women are more empathetic, they can better understand customers. Women are more balanced and would take calculated moderate risks. It is high time our leaders realize this and leverage this to the growth of our country. Indian Banks and Financial Institutions with better gender equality on board than their western counterparts, scraped through the economic slowdown unscathed. In the last three decades, the gender equilibrium has become fairly poised.

Volunteer Management Has Become An Important Issue Management Essay

Volunteer Management Has Become An Important Issue Management Essay In a letter declaring September 11th a National Day of Service and Remembrance, President Barack Obama stated, No force for change is more powerful than that of Americans who are making a difference in their communities (Stewart, 2009, p. 28). Individuals who donate their time and expertise to help organizations address a need or concern are examples of these Americans who are making a difference in their communities (Stewart, 2009). Organizations over the past decade have seen a great deal of change in competition from globalization and market demands, causing them to rethink the way they are managed. This applies to both private sector and non-profit/public sector organizations, if they wish to survive in todays economy. Due to the United States economic downturn, non-profit and public sector organizations must find ways to efficiently manage their scarce resources. One of these scarce resources is a well trained and faithful volunteer workforce. Restricted budgets often make it ha rd for management to hire the sufficient number of employees needed to carry out the organizations mission, so a volunteer workforce can help fill those gaps. Volunteer workforces have become essential to fully performing everyday operations from basic office clerical work to arranging and holding fundraising events. Background Volunteer management has become an important issue today because organizational leaders must recruit, retain and motivate their volunteer workforce effectively. A number of organizations report that more volunteer assistance is needed, despite the fact that many Americans are already donating their time. This is why organizations must rethink the way they manage volunteers to recruit and retain the best individuals available. If organizations fail to look at the management of their volunteer workforce, they run the risk of losing their volunteers or not finding new qualified volunteers. In the past, a number of non-profit and public sector organizations had an abundance of individuals who were willing to lend a helping hand. However, times have changed in todays society. With a growing number of organizations needing volunteers and peoples lack of available free time, it has become essential to recruit and retain the appropriate volunteer candidates for the right jobs. Volunteers hav e a number of organizations to choose from, and they will choose the organization whose mission and values most closely align with their mission and values. Over the years a number of authors and researchers have introduced techniques and/or explored issues related to volunteer recruitment, retention and motivation. When developing a way to recruit volunteers, one might look at the talent management approach or a marketing plan that includes the four Ps (Product, Price, Place and Promotion). If improving volunteer satisfaction and retention is a priority, then the human resource management approach and the constructive feedback approach might help. However, neither recruiting the right volunteer nor retaining them is going to matter if the organizations cannot keep them motivated. This is where the psychological contract perspective comes into play, by ensuring volunteers feel appreciated and valued for their donated time. These techniques and approaches help organizations to recruit, retain and motivate volunteers. Purpose The intention of this study is to closely examine the management styles of volunteer programs and how they affect volunteers motivation, recruitment and retention. Today a number of individuals are volunteer coordinators, or responsible for managing volunteers, at organizations located throughout Central Illinois. Unfortunately, there are times that they feel ill equipped to fully understand how to manage volunteers in a way that maximizes retention and reduces turnover. At the same time, the findings of this study can help other volunteer managers and organizational leaders in the Central Illinois community improve their work with volunteer workforces. Ultimately, the individuals who volunteer will be impacted and/or helped by this study because the organizations that enlist their help will be better equipped to manage their needs. By managing the needs of volunteers, an organization can strive to maximize retention and minimize turnover. Direction A survey distributed to volunteers at local non-profit or public sector organizations in Central Illinois would have been the desired method to explore this topic. Answers to a set of survey questions would need to be analyzed in order to see if a particular management style had any effect on a volunteers decision, satisfaction, or motivation at a certain organization. Volunteers being defined as people who willingly and without pay perform a service or undertaking for an organization, and the management style being defined as the methods and techniques organizations use to recruit, retain and motivate volunteers. A case comparison between Central Illinois organizations would be needed to fully address the extent of the studys research question. However, this type of data was either nonexistent or unable to be collected in the time allotted and because of IRB approval. So this study will look at secondary data from the Current Populations Surveys volunteer supplement, two surveys con ducted of volunteers and the perspectives of two individuals who work with volunteers on a daily basis in Central Illinois. The variables from these sources includes the following: volunteers by annual hours, volunteers by number of organizations for which activities were performed, volunteers by type of organization for which volunteer activities were performed, main volunteer activity for organization, volunteers by how they became involved and items that motivate volunteers. By looking at these variables, this study will explore the question: is there a correlation between the management styles in volunteer programs and the effect they have on volunteer motivation, satisfaction and retention in Central Illinois? Literature Review When people think about volunteer management, they usually think about the supervision and selection of volunteers. However, it involves so much more! Volunteer management is an important tool used by organizations to leverage resources to accomplish designated results. It ensures that the community is involved in current issues and ensures that there is buy-in of the organizations mission. At the same time, it strengthens the credibility of the organization in the publics eyes. A number of different authors discuss that good volunteer management must encompass three key areas: (1) volunteer recruitment, (2) volunteer satisfaction/retention and (3) volunteer motivation. Together these three things can create an effective volunteer management system. Without a good balance of the three, organizations could experience high volunteer turnover and dissatisfaction. A number of different methods and techniques have been studied and/or introduced to improve volunteer management. Volunteer Recruitment To have a strong team to assist in their endeavors, first volunteer managers need to recruit good volunteers. Like everything else in volunteer management, there is more to the process than meets the eye. Volunteers do not grow on trees. Most of the time the volunteer manager has to actively search for the right person for the job. This requires the ability to reach out and even educate people about the organizations volunteer needs. On the other hand, sometimes volunteer managers have to weed through a number of interested volunteers to find a good organizational match. Eisner, Grimm, Maynard and Washburn (2009) suggested that a talent management approach be used when recruiting volunteers. With this approach, Eisner and his fellow colleagues felt that the proper volunteer, with the appropriate talent, would be recruited (Eisner et al., 2009). At the same time, it is important to create the proper infrastructure that will not only recruit the appropriate volunteers for the jobs, but place, develop and retain them as well (Eisner et al., 2009). Karl, Peluchette and Hall (2008) observed that volunteers responded positively towards organizations that know how to have a fun workplace. This fun workplace can be created by recruiting the right volunteers through a marketing strategy. Their marking strategy creates an internal marketing plan based on the four Ps (Product, Price, Place Promotion) of the marketing mix (Karl et al., 2008). By conducting a study of their marketing strategies, Karl, Peluchette and Hall (2008) found that organizations had a better success rate when they recruited volunteers by advertising the psychosocial benefits offered for their time (Karl et al., 2008). They also observed that recruitment advertisements that emphasized the personal benefits gained from volunteering were just as effective as the altruistic (i.e. wanting to help out) advertisements (Karl et al., 2008). Basically, volunteers can be recruited by showing the benefits received in lieu of money. It is also important to make sure that the organization has a staff member in the organization that can handle volunteer recruitment efforts. The recruitment techniques can only take the organization so far if it does not have a dedicated staff member to develop the relationship between the organization and interested volunteers. The Urban Institute in 2004 confirmed that there was a correlation between the amounts of time a staff member spent on volunteer management and the ability of the organization to handle additional volunteers (p. 17). However, only three out of five organizations in this study had a staff member devoted to volunteer coordination, despite the fact that a large percentage of organizations report how beneficial volunteers are to their operations (Urban Institute, 2004, p. 8). Volunteer Satisfaction and Retention When it comes to the retention and satisfaction of volunteers within an organization, the way that they are managed can determine whether they stay or find another organization where they can donate their time. In a study by Cuskelly, Taylor, Hoye and Darcy (2006), the implementation of the Human Resource Management (HRM) approach to volunteer management and retention of volunteers was observed. The HRM approach seeks to professionalize and create a business like approach to the management of people. When the approach was implemented, fewer volunteers were reported leaving an organization because of management problems (Cuskelly et al., 2006). When improved planning and orientation was used for volunteers, fewer problems were reported, therefore improving the retention and job satisfaction of volunteers within an organization (Cuskelly et al., 2006). Communication between paid staff and volunteers also plays a major role in volunteer satisfaction and retention. Garner and Garner (2010) found that organizations that encouraged their volunteers to give constructive feedback and keep the lines of communication open had a lower turnover rate than organizations that did not encourage it. Garner and Garner (2010) stated, volunteer satisfaction made little difference in participants communication choices, but participants motivations to volunteer did influence how they communicated problems to paid staff (p. 826). By allowing volunteers to address a problem, and giving them the freedom to figure out a solution, managers are giving them empowerment (Garner Garner, 2010, p. 815). This can increase the volunteers satisfaction with an organization because they can see how their contributions help the organization achieve its mission. However, sometimes it is hard to avoid volunteer turnover in the current economy. Lesley Hustinx (2008) found that in todays society, volunteers motivation for quitting can be caused by both outside and inside pressures. In a survey of ex-volunteers, Hustinx (2008), found a number of pressures that caused individuals to give up their volunteer work. Some of the outside pressures included: time pressures, family commitments and regular job or school schedules (Hustinx, 2008, p. 245). Managers can do little to address these issues. The inside pressures included: management differences and organization of volunteer work (Hustinx, 2008, p. 248). Volunteer Motivation In order to improve volunteer motivation, it is important to make sure that volunteers feel valued and appreciated. It helps them to know that the organization has a genuine concern about their efforts and well-being. Farmer and Fedor (1999) studied the Psychological Contract Perspective approach and how it could motivate volunteers. The Psychological Contract Perspective helps volunteer managers understand volunteer behaviors and motivators. Farmer and Fedor (1999) confirmed that a number of organizations were not meeting the expectations of their current volunteers. However, if the organization was meeting their expectations, then the levels of participation increased (Farmer Fedor, 1999). In a couple of instances the volunteers were willing to overlook their unmet expectations if they shared common values with the organization (Farmer Fedor, 1999). Shortly afterwards, however, Farmer and Fedor (1999) reported that the volunteers would develop a sense of separation from the organ ization because they felt the organization did not care about their well-being. Occasionally, the expectations of volunteers can change as the volunteer activity grows and changes. Wu Luping (2011), in an interview with 24 young volunteers, found that when developing a volunteer activity, special attention should be given to the possibility that people might advance and expand their abilities during the activity (p. 190). This means that more prominence should be placed on the enjoyment received when publicizing volunteer activities (Wilson, 2012). These authors have introduced a number of studies and techniques that volunteer managers and organizational leaders should consider when creating and implementing a volunteer management system. However, most of the authors only focused on one element of a good volunteer management system. In order to have a truly effective system, managers need to encompass these best practices in the recruitment, retention and motivational processes. This is why a study needs to be conducted that can explore all three key areas together, while also looking at what methods and techniques work best to develop a strong and well rounded volunteer management system. Looking at data collected in the past years will help to examine if any of these ideas introduced still have any validity in the current volunteer market. Much like everything else in society, interests and motivations change from generation to generation, so it is important to discover what techniques work best on different demographics. Fur thermore, a technique that works well in one community might not work in another. This is why it is important to study the populations that are in the community. Methodology It is important for individuals who work with volunteers to discover what suitable motivational tools are required for each volunteer when recruiting and retaining the best individual available. When taking into consideration the purpose, and the available data, this study will examine if there is a connection between the management style in volunteer organizations and the effect it has on volunteer recruitment, satisfaction/retention and motivation in Central Illinois. In order to study the areas of volunteer recruitment, retention/satisfaction and motivation, this study will look at the published data collected in the Current Population Surveys volunteer supplement of 2007 through 2011, a research project by Esmond and Dunlop (2004) on developing the volunteer motivation inventory in Western Australia and the 2012 Ronald McDonald House Charities of Central Illinois Volunteer Survey. However, using this secondary data has limitations of only representing the individuals who answered the survey, and it might not represent the population in Central Illinois. Also, a sample of the population might differ from the entire population results. In order to address reliability and validity issues of this data, the perspectives of professionals who work with volunteers on a daily basis at the Abraham Lincoln Presidential Library and Museum and Ronald McDonald House Charities of Central Illinois will also be incorporated. The Current Population Surveys Volunteer Supplements The Current Population Surveys (CPS) volunteer supplements for 2007 through 2011 is a national household survey administered by the U.S. Census Bureau (Census) for the Bureau of Labor Statistics (BLS). According to the Bureau of Labor Statistics (2011), the CPS is a survey of about 60,000 households that obtains information on employment and unemployment among the nations civilian population age 16 and over (p. 1). The volunteer supplement is an annual set of questions specifically aimed at gaining information on the rate of volunteering and the characteristics of volunteers in the United States. The survey defines volunteers as persons who did unpaid work (except for expenses) through or for an organization (Current Population Survey, p. 1). This data will examine volunteer recruitment, retention/satisfaction and motivation by looking at the number of hours spent volunteering, type of organization for which volunteer work was performed, volunteer activity performed and how the volun teer became involved with an organization. Developing the Volunteer Motivation Inventory to Assess the Underlying Motivational Drives of Volunteers in Western Australia In the Developing the Volunteer Motivation Inventory to Assess the Underlying Motivational Drives of Volunteers in Western Australia study a total of 2,444 volunteers and 15 organizations participated in a five-stage research process (Esmond Dunlop, 2004). Esmond and Dunlop (2004) also collected the demographic details, such as age, gender, occupation and time spent volunteering from each participant to observe trends (p. 22). The volunteer manager of each organization distributed the survey via mail or internally. How individuals answered the survey questions will allow me to examine what factors motivate volunteers. Ronald McDonald House Charities of Central Illinois Volunteer Survey The 2012 Ronald McDonald House Charities of Central Illinois is small nonprofit located in Springfield, Illinois that uses volunteers to provide a temporary home away from home for families who have a child seeking medical treatment at a nearby medical facility. In the first quarter of 2012 the House Manager and Executive Director conducted a survey of about twenty-two current house volunteers. The survey was conducted via Survey Monkey and consisted of twenty-five questions. These questions were designed to give the organization a better understanding of their current volunteer pool and the volunteers general satisfaction with the organization. This study will examine selected answers to explore volunteer motivations at a Central Illinois non-profit organization. Together the data collected from these three sources will help in analyzing the current retention, satisfaction and motivation of a sampled population of volunteers. Looking at the percent of the population that volunteers, how many hours they volunteered and what types of activities they performed, this study will explore what methods and techniques work on recruiting and retaining volunteers. The survey results from Developing the Volunteer Motivation Inventory to Assess the Underlying Motivational Drives of Volunteers in Western Australia study and the 2012 Ronald McDonald House Charities of Central Illinois can be used to explore volunteer motivations at fifteen organizations in Western Australia and from a Central Illinois non-profit organization. Having data samples from various individuals from completely different communities and parts of the world will show if viewpoints differ from community to community. Analysis The analysis of this study will be divided into three sections: (1) volunteer recruitment, (2) volunteer satisfaction and retention and (3) volunteer motivation. Each section has a number of graphs and/or tables that represent the data collected from the sources identified earlier. These graphs and tables will help to better understand the motivations and current volunteer statistics of the sampled population. However, it is important to keep in mind that this only represents the sampled population at the time of collection and not the entire population as a whole. Volunteer Recruitment Table 1 Volunteers by How They Became Involved with Organization Years Percent distribution of how volunteers became involved Approached the organization Was asked by Other Not reporting Boss or employer Relative, friend, or co-worker Someone in the organization/school Someone else 2011 41.6 1.3 15.3 23.8 1.2 13.0 3.8 2010 41.6 1.4 14.9 24.9 1.2 12.4 3.6 2009 40.9 1.7 14.8 26 1.2 12.3 3.1 2008 40.8 1.4 14.2 26.8 1.2 12.6 3 2007 40.1 1.3 14.8 27.2 1.2 12.7 2.7 Note. Percent Distribution of How Volunteers Became Involved with Organization. Adapted from Volunteering in the United States, Bureau of Labor Statistics, 2007, 2008, 2009, 2010, 2011 Table 1 shows the percent distribution of how volunteers became involved with their main volunteer activity organization. This information comes from the Current Population Surveys (CPS) volunteer supplements from 2007 to 2011. Over the past five years the way that volunteers have become involved with organizations has stayed relatively the same. This graph shows that volunteers are either recruited by approaching the organization themselves, being asked to volunteer by someone or other forms of volunteer recruitment. Volunteers that approached the organization have steadily stayed around forty percent over the past five years. Additionally, the percentage of volunteers who became involved due to someone asking them has also stayed relatively steady. Adding the percentages of those asked by boss or employer; relative, friend, or co-worker; someone in the organization; or someone else, the total is consistently a higher percentage than the percentage of volunteers who approached the o rganization on their own. This indicates that a greater number of volunteers were recruited by someone asking them to participate, with largest percent being asked by someone within the organization. Figure 1 Figure 1. 2011 Volunteer Rates by Organization. Adapted from Volunteering in the United States, Bureau of Labor Statistics, 2011 Figure 1 shows the percentage of volunteers within selected organizations. This data comes from the CPSs volunteer supplement for 2011. In the survey, participants were asked to identify the type of organization where most of their volunteer time was spent. They were given the list of sport, hobby, cultural, or arts organizations; civic, political, professional, or international organizations; educational or youth service; environmental or animal care; hospital or other care; public safety; religious; social or community service; and other (Current Population Survey (CPS), 2011). The results show that the greatest percentage of volunteers spends their time with religious organizations at thirty-three percent and educational or youth service organizations at twenty-six percent. Volunteer Satisfaction and Retention Figure 2 Figure 2. Number of Volunteers Percent of Population. Adapted from Volunteering in the United States, Bureau of Labor Statistics, 2007, 2008, 2009, 2010, 2011 Figure 2 shows the number of reported volunteers from 2007 to 2011 and the percentage of the general population that make up this volunteer core in the United States. Again this data comes from the CPSs volunteer supplements for 2007 through 2011. The results show that over the past five years the number of volunteers has steadily stayed around sixty million, with a slight dip between 2009 and 2011. The volunteer rate rose 0.2 percent from 2007 to 2008, 0.4 percent from 2008 to 2009 and dropped 0.5 percent between 2009 and 2010. However, it rose again 0.5 percent from 2010 to 2011. The data shows that the percentage of the population that volunteered has stayed steady (around twenty-six percent) over the past five years. Figure 3 Volunteers By Annual Hours of Volunteer Activities Figure 3. Volunteers by annual hours of volunteer activities. Adapted from Volunteering in the United States, Bureau of Labor Statistics, 2007, 2008, 2009, 2010, 2011 Figure 3 shows the results from the CPSs volunteer supplements for 2007 through 2011. In the survey participants were asked to fill in their average hours spent on volunteer activities for the year. The data was then coded into the categories: not reporting hours, 1 to 14 hours, 15 to 49 hours, 50 to 99 hours, 100 to 499 hours and 500 or more hours (Current Population Survey (CPS), 2011). This graph represents the percentage results of their responses. The results show that the greatest majority of volunteers, at about twenty-nine percent, are spending between 100 to 499 hours on their activities. However, it significantly drops from 500 or more hours. Figure 3 also shows that from 2007 to 2011 each category of reported hours has stayed fairly constant. Figure 4 Figure 4. Main volunteer activity for organization. Adapted from Volunteering in the United States, Bureau of Labor Statistics, 2007, 2008, 2009, 2010, 2011 Figure 4 represents the percentage of main volunteer activities for organizations. The results were collected from the CPSs volunteer supplement for 2007 through 2011, in particular the questions that dealt with the type of volunteer activities conducted at their main organization. The main organization is defined as the organization where the volunteer worked the greatest amount of hours during the year (Current Population Survey (CPS), 2011). The results show which activities had the greatest percentage of volunteers over the past five years, with the highest percentage being in the category of other activities, and the next highest in fundraising or selling items to raise money. Over the past five years each category, except collecting food and teaching/tutoring, has stayed at the same percentage of participation from volunteers. Collecting/serving food has seen a slight increase, while teaching/tutoring has seen a slight decrease from 2007 to 2011. Volunteer Motivation Table 2 Distribution of Responses to Volunteer Motivation Inventory Motivational items Survey question Percentage of Responses Disagree Undecided Agree Values I volunteer because I believe I am meeting a need in the community in my volunteering role 1.4 2.8 95.8 I volunteer because I feel that volunteering makes the world a better place 4.7 5.3 90 I volunteer because I believe everyone should volunteer 39 20.3 40.7 Self-Esteem I volunteer because I feel that volunteering is a feel-good experience 14.1 10.4 75.5 I volunteer because volunteering makes me feel like a good person 25.4 17.3 57.3 I volunteer because volunteering makes me feel useful 10 8 82 Personal Growth I volunteer because I feel that volunteering gives me a better understanding of what life is about 10.7 10.4 78.9 I volunteer because I feel that volunteering has given me the opportunity to appreciate the differences in people 16.6 14.3 69.1 I feel more settled in myself after volunteering 26.4 23.5 50.1 Career Development I volunteer because I feel that I make important work connections through volunteering 70.8 13.5 15.7 I volunteer because I feel that volunteering will help me to find out about employment opportunities. 77 12.7 10.3 I volunteer because volunteering gives me an opportunity to build my work skills. 56 14.1 29.9 Social Interaction I volunteer because the social opportunities provided by the agency are important to me. 53.2 20.7 26.1 I volunteer because I feel that volunteering is a way to build ones social networks. 54.1 19.8 26.1 I volunteer because volunteering provides a way for me to make new friends. 40.7 16.7 42.6 Recognition Being appreciated by my volunteer agency is important to me. 10 11.6 78.4 Being respected by staff and volunteers at the agency is not important to me. 75.3 8.2 16.5 I feel that it is important to receive recognition for my volunteering work. 50.4 18.6 31 Note. Distribution of Responses to Volunteer Motivation Inventory. Adapted from Developing the Volunteer Motivation Inventory to Assess the Underlying Motivational Drives of Volunteers in Western Australia, by P.J. Esmond P. Dunlop, 2004 Table 2 represents the percentage of responses from some motivational questions that were pulled from the Developing the Volunteer Motivation Inventory to Assess the Underlying Motivational Drives of Volunteers in Western Australia. The responses to questions related to volunteer motivational factors were coded on a one to five scale, with one being strongly disagree, two disagree, three undecided, four agree and five strongly agree (Esmond Dunlop, 2004). Table 2 shows the percentage of responses to the selected survey questions, with strongly disagree and disagree combined into one category, and the same with agree and strongly agree, while undecided was a separate category. The results indicate that most of the respondents are motivated by their values, self-esteem, personal growth, and recognition. It also indicates that social interaction and career development have significantly lower impact on their motivation to volunteer. Values such as believing that they are making a difference in the community play a highly significant role in volunteer motivation. Volunteering because it makes them feel good also plays a significant role in volunteer motivation. Being appreciated by the volunteer agency and receiving recognition was also regarded highly for volunteer motivation. (Continued on Next Page) Table 3 Distribution of Responses to RMHCCI 2012 Volunteer Survey Survey question Percentage of Responses Good Average Poor

Ethical Issues Surrounding Genetic Screening and Genetic Engineering Es

Ethical Issues Surrounding Genetic Screening and Genetic Engineering In today’s modern age science is moving at a rapid pace; one of those scientific fields that has taken the largest leaps is that of genetics. When genetics first comes to mind, many of us think of it as a type of science fiction, or a mystical dream. Yet genetics is here, it is real, and has numerous ethical implications. One of the particular areas of interest is prenatal genetics. In this field, many new and outstanding innovations have been made. A mother and father can now check for a large array of disorders that could occur in their child; sexual preference has now been shifted from the hands of a higher being to that of someone with a Ph.D.; and in the near future, a couple will possibly be able to choose the physical features of their child, such as hair color, eye color, etc. Scientifically speaking, all of these new options that parents have is amazing. Not only can they have a healthy baby, but one that is going to be stronger, and better looking. Yet, ethically speaking, many people would dislike the â€Å"playing† of God. And when it becomes possible to create a perfect child, what will prevent us in society from doing so? The field of genetics in prenatal situations has become very advanced over the past few years, yet many of these advancements have given arise to unethical appl ications. In 1990, the first great stride of genetics took place. This was called the Human Genome Project, a large-scale operation that was designed to understand the human genome (genetic structure). Since its commencement, there have been many leaps and bounds that have taken place. For certain genetic issues that we once knew nothing about, we no... ...r the ADA: A Case For Protection From Employment Discrimination.† The Georgetown Law Journal 89.4 Apr. (2001): 973-99. Kluger, Jeffrey. â€Å"Who owns our genes?†Time 163.1 Jan. (1999): 51 Parens, Erik., Adrienne Asch. â€Å"The Disability Rights Critique of Prenatal Genetic testing: reflections and recommendations.† The Hastings Center Report 29.5 Sept./Oct. (1999): S1-S22 Pearson, John. â€Å"Regulation In the Face of Technological Advance: Who Makes These Cells Anyway?† Notre Dame Journal of Law, Ethics, & Public Policy 13.1 (1999): 1-8. Reiss, Michael. â€Å"What Sort of People Do We Want? The Ethics of Changing People Through Genetic Engineering.† Notre Dame Journal of Law, Ethics, & Public Policy 13.1 (1999): 63-92. White, Mary. â€Å"Making Responsible Decisions: An Interpretive Ethic for Genetic Decisionmaking.† The Hastings Center Report 29.1 Jan./Feb. (1999): 14-21.

New technologies dismiss social relationships Essay examples -- Tech

In this fast-changing world, new technologies have become essential in societies and have an impact on everyone’s life. This process of â€Å"technologization† has grown exponentially since the nineties and the beginning of the Internet, which has significantly decreased boundaries of communication. Some expert agreed that new technologies would make communication and exchange easier, and thus give an incentive to communicate with other people. However, those change have caused communication to change and people have totally change their way to communicate. Ever since people have become increasingly dependent on those technologies because they only see their advantages and convenience for everyday life. New technologies dismiss social relations; due to the way people use them. This paper will argue that an excessive use of new technologies can damage people’s social interactions, which in term might cause numerous social issues. To support this argument, three reasons will be approached: the first part will explain how new technologies make people more selfish and individual by explaining online communication issues; second, people rely so much on new technologies that there has been an increase in technological addiction which turn people into technological aliens. To finish, advanced technologies change people’s behavior in their everyday life; here, the fact that virtual life comes over real life will be developing. This research will demonstrate how new technologies dismiss social relationships by comparing and analyzing different academic sources. In order to proceed, the word communication needs to be defined. According to the Longman Dictionary of Contemporary English, communication is the process by which people exchange... ...umà ©riques, Des Enfants Mutants ??" Sciences Humaines [France] Oct. 2013: 35-37. Print. Kelion, Leo. "Hannah Smith Death: Father Says Daughter Was Victim of Cyberbullies." BBC News. BBC, 08 June 2013. Web. 27 Nov. 2013. Kudler, Amanda. "Video Games Timeline." Infoplease. Infoplease, 2007. Web. 24 Nov. 2013. Netburn, Deborah. "The Business and Culture of Our Digital Lives." N.p., July 2011. Web. 30 Nov. 2013. Soong, Jennifer. "When Technology Addiction Takes Over Your Life." WebMD. WebMD, June 2008. Web. 24 Nov. 2013. Tong, Krystel. "Social Networking Leads to Social Isolation." Prezi.com. Prezi.com, Apr. 2013. Web. 27 Nov. 2013. Turkle, Sherry. "Sherry Turkle: Connected, but Alone?" TED: Ideas worth Spreading. TED, Feb. 2012. Web. 27 Nov. 2013. Young, Kimberley. "Gà ©nà ©rations Numà ©riques, Des Enfants Mutants ?" Science Humaines [France] Oct. 2013: 52-55. Print.

The Life of Mary Shelley Essay -- Biography Biographies Essays

The Life of Mary Shelley Mary Wollstonecraft Shelley was born in 1791 in London. She is the daughter of Mary Wollstonecraft and William Goodwin. Wollstonecraft was a radical feminist writer, and Goodwin was a writer as well as a philosopher. It was said that this couple's combined intellect was dangerous to society; however, days after Mary's birth, Wollstonecraft died due to complications from the pregnancy. Mary spent a lot of time visiting her mother's grave when she was growing up. Her father taught her how to spell her mother's name by having her trace the letters on the headstone with her fingers, an interesting yet morbid way to teach a seven year old how to spell. Goodwin raised Mary by himself for the early part of her life. When Mary was four, he married Mary Jane Clairmont, who also had children from a previous marriage. Mary never fully accepted the stepfamily; she always felt like an outsider. Many of her feelings of loneliness and longing to know her mother are issues that are prevalen t in the novel Frankenstein. These issues are analogous to the search that the monster had for his creator. During Mary's teenage years, Goodwin owned a publishing company, so the Goodwin household was filled with famous authors and intellectuals. Coleridge was known to visit the house often. On one occasion he read the recently completed The Rime Of the Ancient Mariner in their living room, while Mary stayed up past her bedtime to listen. Percy Bysshe Shelley also came to the house on a regular basis to seek knowledge from Goodwin, who was one of his mentors. Mary grew fond of him, and they began their courtship when she was only fifteen and he was twenty. When Mary was sixteen she ran off to Europe with Percy, a... ... it has on the horror/science fiction writers today. Works Cited and Consulted 1. Caprio, Terry. ( Accessed 23 Oct 00) http://loki.stockton.edu/~stk13818/mary.htm 2. "Frankenstein: The Modern Prometheus Home." U.S. National Library of Medicine. (Last Mod 28 Jan 00) ( Accessed 12 Oct 00) http://www.nlm.nih.gov/hmd/frankenstein/frank_birth.html 3. Hamberg, Cynthia. "My Hideous Progeny: Mary Shelley's Frankenstein." ( Last Mod/1999/2000(c)). Yahoo. ( Accessed 15 Oct 00).http://srd.yahoo.com/drst/27147033/*http://home-1.worldonline.nl/~hamberg/ 4. "Mary Shelley and Frankenstein." ( Last Mod 11 Jan 00). (Accessed 10 Oct 00). http://www.desert-fairy.com/life.shtml 5. "Peanutpress.com: Mary Shelley." Peanutpress.com: A Division of Net Library (Accessed 5 Oct 00). http://www.peanutpress.com/author.cgi/1567/05951560-58839-8414692824

Midwest Office Products Management Essay

Case Overview: MidWest Office Product was a regional distributor of office supplies to institutions and commercial businesses. The company offered a comprehensive product line like simple writing implements and fasteners to specialty paper for modern high-speed copiers and printers. Warehouse personnel in the company’s distribution center unloaded truckload shipments from manufactures, and moved the cartons into designated storage location until customers request the items. Typically, the company shipped products to its customers using commercial truckers; however the MOP had introduced the new way of shipment which called a desktop delivery option in which the personnel delivered the products directly to the destinations at the customer’s site. The company believed that the new way of shipments would improve the margins and create more loyal customers in its competitive market. Moreover, the MOP introduced the electronic data interchange, which allowed customers’ orders to arrive automatically into the system so that clerks wouldn’t have to enter the data manually. John Malone, general manager of Midwest Office Products, was concerned about the financial results of his business for a calendar year 2013. Malone was concerned that even after introducing the innovations, the company couldn’t earn a profit. The company’s management team decided to check out: What actions he should take to regain the profit? What profits Midwest Office Products had really earned on each of the orders stated? Case Solutions: According to calculations made on the Excel sheet, we think that in order for MOP regain the profits the company should look on the following recommendations: 1) To encourage customers to use more efficient and cheaper types of channels, like in this case the EDI. As you could see on the excel sheet 1 the electronic entry costs $3.50 which is the cheapest way of entering the information about the orders. 2) Improve the efficiency of the warehouse operations and order-entry process ( manual and electronic). We could recommend to decrease the amount of order-entry operators. The following action will help the company to decrease the costs on personnel. 3) To improve the Desktop Delivery option meaning to introduce the specific charges for the following options depending on the amount of drop points, distance, time consumed for travelling If the cost for Desktop Delivery is $75 per hour, the company should introduce the specific charges for a such delivery because it costs almost 5 times higher as the commercial freight. 4) It’s highly recommended to minimize the amount of small orders, may be it would be efficient to establish the minimum order size or put the minimum price for an order

Owens & Minor case for aligning supply chain incentives Essay

Executive Summary Statement of issues: Due to the changes of business environment, O&M suffered a continuous loss on business. Instead of acting individually, customers formed buying groups and combined buying power to gain advantages in negotiating gross margin with distributor. With the increased popularity of JIT and stockless idea, customers want to shift cost and risk associated with inventory to distributor, and they also want distributor to provide better services at its own expense. Moreover, competitions from private label distributors and manufacturing distributors further squeezed profit margin of our company. Owens and Minor play a very important role in the entire SC. They are in charge of providing information to manufacturers on product flow. Their services to the hospitals include storing the inventory in their warehouse and making constant shipments based on stockless and JIT strategy, thus taking all the financial risk in inventory handling and storage. They don’t add value to the product itself, but they do add a lot of value to the SC. The nature of distribution has changed over time. The bargaining power of hospital has increased due to mergers and alliances, pressuring the distributors to reduce their margins. Upstream members of the SC have also put some pressure on O&M to take additional cost in their operations. If the ABP strategy could be successfully implemented, both distributor’s and customers’ incentives could be allied. Customers would be willing to order expensive products via distributors’ channel instead of buying directly from manufacture. Generally, customers who could reduce or simplify the activities happened through the supply chain would adopt ABP faster. Also, customers who understood and were willing to develop a sustainable relationship with distributors would adopt the ABP first. ABP was a new concept and its value had not been proven. Aggressive  implementation of new idea such as ABP might drive customers away and fed competitors. There are internal obstacles exist in the ABP implementation. Hospitals have to restructure its organizational structures to fit in ABP system. Rearranging employees and reallocating facilities would increase the distrust to ABP system. Also, a substantial amount of investment is needed for establishing the EDI system. How to overcome these obstacles and make ABP implementation smooth is a big challenge. In order to illustrate the idea of ABP more clearly, we have come up a simple pricing matrix based on ABC method. We have identified two cost drivers and separated fixed and variable costs from general cost information. However, for simplicity we have not considered the cost difference of EDI and non-EDI ordering in this simple matrix. Owens and Minor should carefully deal with its customers’ resistance to the new pricing system by making them truly understand the new system and benefits they would get after the implementation. Owens and Minor also needed to launch a pilot program before full implementation and provide help and support to its customers to insure the success of the implementation. Statement of issues Historically O&M was doing very well in the industry, however, for recent years company suffered continuous loss on business. At the end of 1995 O&M had ended with an $11 million loss due to decrease in gross margin and an increase in expense. There are many reasons that caused this result, and we are going to identify the most important ones. Healthcare industry has changed a lot since 1980. Historically, hospitals purchased healthcare products individually. However, in order to achieve economies of scale and gain more control over supply costs, hospitals joined forces with other hospitals to form large buying groups. With such combined buying powers, hospitals are much more powerful in negotiating gross margins  and service levels with distributors. Distributors are forced to cut gross margins and increase service level. A quote from O&M manager can illustrate this situation very well: â€Å"whoever had the strongest will would win the price†. Apparently, in current supply chain, the relationship between distributors and customers is not harmonious. Moreover, with the increased popularity of Just-In-Time and stockless management ideas, hospitals are reluctant to hold large inventory because they wouldn’t benefit from JIT whose primary principle is to lower inventory carrying cost by ordering when needed. Instead, they want distributors provide Just-In-Time delivery service. Also customers require special handlings such as smaller package and different products batching and these services are at distributors own costs. Distributors also experienced margin pressure from the manufacturing side because manufactures do no compromise on the already low healthcare product price. Competitions in the industry also results profit decline of O&M, especially with distributors who also produce healthcare products entered the market. Those distributors are able to offer extremely low price to customers because they are the manufactures as well. Even though O&M commits to provide better service, it lost many customers because of this. Analysis of Data Services rendered by O&M and changes in Distribution. Owens & Minor play a tremendous role in this industry’s Supply-Chain. They are in charge of providing information to manufacturers on product flow such as: market trends, buying patterns and product penetration, so that their suppliers use this valuable information in order to manage their operations and production schedules. By doing so, manufacturers are able to produce the right quantity of supplies, which in turn reduces stockouts and/or excess stock costs, in other words O&M provide the necessary tools for the upstream members to have adequate inventory production planning. As for their customers, their role is to purchase the products from the manufacturers and ship those medical supplies to their warehouse where they will store them until delivery to the hospitals. So O&M owns and manage the inventory themselves, taking all the financial risk associated with product handling, shipment and storage. â€Å"O&M’s main operational functions included receiving, put-away, order picking and shipping†. O&M don’t add value to the product itself since they just act as an intermediary to pass the products from the manufacturer directly to the hospitals, however they do add value to the Supply-Chain. They enrich the SC with the necessary information needed to avoid phenomena such as the Bullwhip Effect and they bring expertise in stockless and JIT inventory management systems, consequently lowering costs along the chain. However, it is certain that the nature of distribution, that is, the role of O&M has changed through time and not for the greater good. This change has occurred mainly with its downstream partners the hospitals. They have shifted they costs to their distributors and demanded better and faster service without any additional rewards, this is why O&M relies heavily on its logistics department to make process more efficient. This was made possible for hospitals due to their increase in power by merging or joining forces with other hospitals. Voluntary Hospitals of America member hospitals represented $1.2 billion in annual revenue to the company, meaning that O&M’s switching cost is too high. They are able to minimize their own costs by forcing distributors to hold their inventory and transport in smaller units, sending it to the nursing and surgical units instead of leaving it at the loading dock as before. Margin pressures have also been present upstream with manufacturers, which were reducing discounts even as small as 0.5%, thus lowering significantly up to 31% distributors net profits before tax. A main issue taken from this case is that incentives along the Supply-Chain are not aligned. The risks and rewards of doing business are not fairly distributed across the network. Even if the manufacturers and hospitals are better off with the cost-plus strategy, the whole SC still does not have a win-win situation and they might lose against other Supply Chains. The truth  behind this issue lies in that there is no trust in the SC, this assumption is made given that nobody wants to share critical information, which enhances Impact of Cost-Plus Pricing on the members of the Supply-Chain. On the side of the distributors O&M, engaging in a cost-plus pricing strategy means charging a 7% markup, meaning that profits lie on expensive products, which they don’t have the change to deliver cause Hospitals bypass them and deal directly with manufacturers in order to avoid the 7% increase in prices. The most important aspect to consider about this strategy is that it does not take into account the services added. In addition, this method caused the effect of Distributor giving more and better service holding more inventories, which increases carrying costs and risk of damage during storage. Distributors enforce supply-chain speed without any additional profits. On the customer’s side, cost-plus pricing implies less risk on inventory carrying cost, creating more incentive for hospitals to order frequently due to flat rate. Nevertheless, there is some unethical activities in which they can participate. They can avoid paying high costs on expensive products to their distributors by jumping them through the SC and dealing with manufacturers instead, an activity called â€Å"cherry-picking†. Finally, the manufacturer engaging in cost-plus strategy needed to handle some shipment to deliver, mainly expensive products, to hospitals. This resulted in inefficiency for both parties due to the fact that manufacturers required hospitals to buy in bulk and they did not have the space or management systems as distributors did to handle the product. Mishandling, damaging and loosing expensive items often occurred in the â€Å"cherry-picking† process. Alternative Courses of Action for O&M. Based on our five quantitative and qualitative decision criteria: cost, time, ease of implementation, customer satisfaction and future benefit for the  company, we are able to compare the advantages and disadvantages of each alternative and help us make the best decision. 1)Status Quo: The easiest option for O&M is to keep operating as they are, which is not the best alternative for them for financial reasons. They currently have customers who are not profitable for the company, customers who keep asking for higher service at the same price that would keep profit margins low as personnel costs increase. For the year of 1995 they incurred a net loss of $11.3 million, which compared to last year’s profit of $7.92 million represents a dramatic and also unstable change. Based on this data, the assumption is that the upstream and downstream partners will not change their business habits and incentives will keep unaligned and that the company will not be able to reduce costs to an extent where they can offset service costs and generate profits. O&M will keep generating loses for the company and will ultimately yield to bankruptcy. The time to implement is inexistent, since no actions are made. The cost of implementation is also inexistent; nevertheless the company’s cost on the long run will be very high because cost-plus strategy is not profitable for them. There is no ease of implementation. The customer’s benefit is high, since they don’t have to pay additional service and inventory carrying cost. The future benefit for the company is very low, might loose contract with clients because of their lack of ability to fulfill all products and keep taking all the costs. 2) Vertical Integration: Our second proposed alternative is vertical integration, which means to acquire a manufacturing plant. By using this strategy, O&M would be able to create its own healthcare product brand and reduce the purchasing price on that. Thus, O&M could offer a more competitive price to its customers and might get some recovers from the high operating costs. However, there are some problems associated with this alternative. O&M had to spend time on finding suitable acquiring target, understanding manufacturing process and integrate the manufacturing plant into the company system. Therefore, this strategy requires a relatively longer time period to get things work. On the other hand, in order to do vertical integration, O&M had to prepare a huge amount of cash. Based on the fact that O&M’s current cash flow was very tight, acquiring a manufacture  would have a big impact on company’s financial health. Implementation of this strategy would be quite diffi cult as well. Since O&M had no experience on healthcare manufacturing, it has to get familiar with the process from very beginning. Also, how to control manufacturing cost at a competitive level is a new challenge to O&M. Because O&M can create its low-cost private label products under this strategy, it has the incentive to promote private label products to hospitals. However, hospitals do not like private label products since it limits the scope of choice so under this strategy customer satisfaction level is low. In general, vertical integration is effective in reducing company’s cost on healthcare products purchasing but requires a substantial investment and long implementation period. Customer satisfaction is also low in this case. 3)Selected ABP: Another alternative that O&M could use is to use ABP system only on certain type of customers. More specifically, O&M could choose unprofitable customers to implement ABP and keep its profitable customers status quo. The time required for this alternative will not take too long, less than 6 months would be a reasonable estimation. The majority of time would be spent on the analysis of profitability of customers. The challenge of implantation this alternative is to make sure the customer profitability analysis would be done under a proper and correct result would be produced. To estimate customer satisfaction after the implementation, we needed to split our customers into two groups. Those customers determined as â€Å"profitable† to us under current cost-plus system would likely to maintain the current satisfaction level, but customers viewed as â€Å"unprofitable† would feel less satisfied since they would have to pay more after ABP implemented. The downsides of this alternative are the risk to drive some customers away and the increased complexity of our pricing system which might lead increased error rate. The good side is that O&M would benefit in the long run because of the elimination of unprofitable customers. If O&M would have all the information and could develop correct ways to conduct the analysis, this alternative would be a possible choice to lead O&M succeed. 4)ABP for all Customers: this final alternative considers implanting ABP to all customers, both profitable and non profitable. The cost of this option  is higher than â€Å"Selective ABP† previously mentioned, due to the fact that all customer base will be subject to EDI technology and connecting to all of them takes organization within the company and thus training cost by employees for both O&M and hospitals. The time to implement will be longer compared to Selective ABP; however based on our assumption that O&M will be located higher on the learning curve, their time per implementation per customer will be less the more customers they have previously served. The easiness of implementation therefore is not easy due to the large customer base dealt and new systems and training needed. However, the future benefits, not only for O&M, but also for the entire SC will be substantially improved in the sense that incentives would be aligned. Based on previous analysis on alternatives, we conclude that â€Å"ABP for all customers† is the most feasible solution that can maximise company’s profits, as well as aligning the incentives along the SC. This is important not only for the short term, but also for the long term of the entire chain. Impact of ABP on Customer Behavior. Before the implementation of ABP (activity based pricing), the current dominant form of pricing in the medical/ surgical industry was cost-plus pricing. If the ABP strategy could be successfully implemented, both distributor’s and customers’ incentives could be allied. Under ABP, the distribution fee was no longer based on the value of item but the value of service. In that way, Owen & Minor’s customers would begin to think about the real cost of various activities through the supply chain. Instead of wanting to order as less as possible per time and increasing order frequency, customers would begin to seek a way to reduce the order frequency to reduce the distribution fee charged by Owen & Minor. Also, since now the fee was not determined by product value, customers would be willing to order expensive products via distributors’ channel instead of buying in bulk directly from manufacture. So the possibility of mishandling, damaging and lost of expensive items would be reduced. From the distributor’s side, it would be more happy to provide good service because it would be paid based on the service it provided not the value of item. Of course, it’s unlikely to ask all Owen & Minor’s customer to turn to the new pricing system at the same time. Depends on the type of customers, some of them might be adopt the ABP quicker and with less resistance. Generally, customers who could reduce or simplify the activities happened through the supply chain would adopt ABP faster. First, customers willing to simplify or reduce the order frequency would be more likely to adopt the ABP. By doing that, the fee charged by distributor would be decreased. Also, those customers often ordering large amount of expensive items would adopt the ABP first. By doing that, it shits the risk of mishandling, damage and lost to the distributor. Compared with previous fee charged by item value, now they would more likely to pay less but get better service. Furthermore, those customers who understood and were willing to develop a sustainable relationship with distributors would adopt the ABP first. They understood that if distributor was losing money because of the improper pricing system, the entire supply chain would collapse someday and both of them would be hurt finally. There were also risks associated with ABP for Owens and Minor. ABP was a new concept and cost-plus pricing system was still a dominant form in the medical/ surgical industry. It was hard to convince customers adopt the new and even unproven concept. Some customers might turn to other competitors and the relationship that needs built over long time might get hurt. Proposed ABC pricing matrix In order to have a better demonstration, O&M designed a simple pricing scheme using activities-based costing. The pricing scheme is based on two major cost drivers–number of purchase orders per month and number of lines per purchase order. The number of orders was tied up to O&W’s fixed administrative costs and number of lines was tied to variable costs such as the labour handling cost of different products. This is a very primitive matrix because it only listed two cost drives and priced based on them. In reality, there should be a price for every value-adding service provided by distributor and the number of cost drives is huge. However, this simple  pricing matrix could effectively show our clients that their operating cost is associated with level of service they demand, and lower cost is achievable if they can optimize their behaviors. Because we designed this pricing matrix based on two cost drivers, costs included in matrix are directly related to number of ord ers and lines. For example, fixed order costs such as procurement, labeling, account management fees and variable costs like shipping & handling, delivery, interest cost are all included. However, some costs are not comprised in the matrix. O&M believes all costs associate with number of orders are fixed but there are variable costs incur in placing orders. Activities such as taking orders, processing and staging & processing are not free so in the future we need to include these costs in more sophisticated pricing matrix. Moreover, operating cost of an EDI system and a non-EDI system are very different. For simplicity reason we just ignore the difference and assume identical prices for both systems but actually using non-EDI system would incur more cost due to high level of manual works. We have worked out some simple examples on ABP and it shows that company’s profitability increased dramatically under ABP system. Please refer to exhibit #1 fro more details. Risks & Challenges. Although this selected alternative presents many future benefits for the company and the Supply-Chain, certain risks are involved. Risk associated with ABP for Owens and Minor. ABP was a new concept and cost-plus pricing system was still a dominant form in the medical/ surgical industry. It was hard to convince customers adopt the new and even unproven concept. Some customers might turn to other competitors and the relationship that needs built over long time might get hurt. Customer’s entire internal system such as budgeting and incentive programs are formed based on old cost-plus system, and a change in pricing structure is very time consuming. Restructure of pricing system will also affect customer’s buying personnel because their compensation was related to the percentage they negotiate with distributor, and under ABP structure that percentage disappeared Employees on the customer side might have problems understanding the system and change their behaviors to reap maximum savings. Organizational structure will be adjusted to fit ABP which means some employees will be reassigned or resigned, but this decision will have negative impact on morale and productivity. EDI system implementation requires a substantial commitment in resources. Sharing valuable information with customers can be misused at their advantage with O&M’s competitors. The main challenge will be to build mutual trust among the parties involved. Implementation Plan. The successfully have a fully implemented ABP system; we suggest the following action steps: 1.Establish ABP System within the company first and find out cost drivers (services which incur costs). Upgrade IT infrastructure to facilitate further implementation steps. 2.Analyze the benefits of SC based on ABP, benefits such as: improvement on inventory management, aligned incentives to efficiently compete with other Supply Chains, reveal hidden costs on activities, and build long-time relationships, among others. 3.Communicate to selected customers with the previous benefit analysis. 4.Initiate ABP pilot program. 5.Setting up EDI and give continuous support. 6.Adjust and upgrade ABP system based on feedbacks from pilot program 7.communicate to all customers with the success of pilot ABP system 8.Full ABP implementation. (For suggested time-line refer to exhibits.). Conclusion In general, we do see huge potential benefits on the implementation of ABP system. However, risks and challenges will emerge from this alternative and opposition will be strong on the customer side. The implementation steps provide an easy guideline to have a successful ABP system in the SC.