Professional Documents
Culture Documents
2. Pareto Charts are visual tools used to separate the important from the trivial.
The concept which was first promoted by Dr. Joseph Juran, involves the idea
that in the real world; a minority of causes lead to the majority of problems.
Below is an example of a pareto chart found on the internet that
demonstrates utility costs by appliance types.
4. Histograms are an additional total quality tool that are used to chart the
frequency of a specific occurrence. The two types of data that are associated
with histogram processes are; attributes and variables. An attribute is
something that the output product of the process either has or does not have.
Variables data on the other hand are something that results from
measurement. Posted below is a histogram chart that I created to apply to
my business unit, and chart the amount of times per month a certain footage
amount for pipe was achieved.
5. Control charts are a mechanism to understand process behavior,
predictability and stability over time. The main objective of a well-designed
control chart is to determine if a given processs variability has gone out of
control? The control chart is a tool used in quality control for inferring an
unplanned change has taken place in a process measured by a process
continuous variable X. Control charts are normally developed for processes
which are repetitive in nature, and expectations are set to perform around
continuous process variable X. A repeatable process is one in which process
do the same thing in same way and produces the same results. There are
four common process states that are outlined within the figure below and
depict different situations where control charts could potentially be used.
10.Quality tools are important in the sense that decision making is almost
always one of the biggest challenges a manager will face in their day-to-day
lives. Selecting the correct quality tool for a specific job can be confusing at
first, but with a proper understanding of the different tools, a manager can
implement one on more tool to aid them in decision making for total quality.
Used properly, quality tools can lead to better decisions and more effective
problem solving. One way that a manager can understand the different tools
and the best times to apply them is through creation of a matrix that includes
the different tools on one axis, and the uses on the other. Highly functioning
managers will sometimes facilitate the process by providing their personnel
to also understand the different tools and when they can be used. A specific
goal of mine as a rising manager within my organization is to understand
these different tools and work on implementing them into our daily lives.
This article sheds a lot of light on some of the common misconceptions about investing in the
sustainable financial landscape. The major players in this field need to come together and mount
a media blitz using narratives and data to crush the fears that some investors are currently
experiencing. One common myth is that investors will make less money by investing in the
sustainable arena.
The data from a Morgan Stanley study of 10,000 mutual funds shows that sustainable funds had
equal of better performance in median returns and volatility than traditional funds. Some
sustainable investment is risky, high profile failures include companies like the Solyndra solar
panel manufacturer. The lesson to be learnt from the failed companies is that the financial
prospects of the companies need to be more carefully assessed and it might be better to start
them off as small as possible.
The second common myth addressed is that sustainable investing violates "fiduciary duty". The
U.S department of labor issued a 2015 bulletin to address this states that sustainable investing
does not breach fiduciary duty. Investors that are looking for solid returns on the long run have
better prospects investing in sustainable companies because of the changing global policy
landscape. The cost of unsustainable businesses will continue to rise with time, gradually
reducing their profitability.
The third myth is that sustainable investing is risky in uncertain markets. There is no doubt that
sustainable investing is risky, but so is any other type of investing. The article mentions the
bankruptcy of Peabody, the largest private-sector coal company in the world. There is a global
shift towards sustainable investments demonstrated by the Installed capacity of wind and solar
growing by 23 percent and 50 percent in the last decade. There are many sustainable investments
that are doing well financially.The fourth myth is that sustainable investing is unfeasible. The
author admits that it is more work to participate in sustainable investing. There are a lot of
resources available to guide investors in navigating the process.
Thanks,
Olu
The next article focuses on packaging trends to watch for in 2017. The focus here is on how
companies are changing their packaging strategy by embracing sustainable practices. I really
believe this trend is better for companies and the consumers on the long run. The first issue
addressed in the article is the clarity of the recycling information. I have seen some products
where the recycling details are really vague. The trend of having clearer recycling information on
packaging will go a long way in improving packaging sustainability. The second trend is to reduce
the weight of the packaging. There are companies that are already doing a good job in this area
but others need to catch up. Having lightweight packaging saves the company manufacturing and
transport costs. The third trend is towards the use of recyclables in creating product
packaging. The use of these materials has the least impact on the environment. There are different
options available to companies based on their budget and this trend improves the participating
companies sustainability image. The fourth trend is towards having packaging that is edible. This
is a unique approach towards eliminating packaging waste. The companies aiming for this goal
are agreed that this is a great idea, but there are challenges that need to be overcome and this
option needs time before it is marketable. This option would be especially suitable for packaging
food products. The fifth trend is that packages will slim down in size. The reduction in volume
makes the products easier to transport and store. I agree with the goal of using the minimum
functional amount of packaging with the highest customer appeal. This trend will reduce costs
and improve the customer experience.
Thanks,
Olu
This article explores the accusation levelled by the US Environmental protection agency against
Fiat Chrysler Automobiles. The EPA contends the FCA had hidden software that allowed excess
diesel emissions to go undetected. The EPA and California Air Resources board believe that the
undisclosed emissions control software allowed FCA to violate pollution laws. This allegation
involves 104,000 U.S 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks. FCA has
contested the charge hoping to get a favorable outcome with the EPA under the Trump
Administration. There seems to be an admission of wrongdoing on the part of FCA. The fact that
they issued a recall for one out of the eight pieces of discovered software proves that they knew
the software control was indefensible. This situation is a product of the VW scandal and it points
to the fact that better regulation and monitoring of emissions from cars needs to be in place.
Thanks,
Olu