Case Study 3: Implementing TQM for an institution Chennai is famous for housing many prestigious and old colleges. SS College situated in the suburbs of Chennai‚ recently celebrated 50th anniversary. It offers BE degree programme in eight different descriptions. About 4000 students are studying in the college. The principal of the college is in the verge of retirement. He has served the college for 35 years. The teaching staff strength is 55; in addition 25 non-teaching staff are also working. Most
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PART A- INTRODUCTION Sheraton is Starwood’s ’flagship’ brand‚ providing luxury hotel and resort accommodation. The origins of Sheraton date back to 1937 when the company’s founders‚ Ernest Henderson and Robert Moore‚ acquired their first hotel in Springfield‚ Massachusetts. Sheraton is Part of Starwood Hotels & Resorts Worldwide‚ Inc. Starwood Hotels & Resorts Worldwide‚ Inc. is one of the leading hotel and leisure companies in the world with 1‚169 properties in nearly 100 countries and 171
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divisions of Marriott? Answer: The cost of capital for lodging is 9.2% and the cost of capital for restaurants is 13.1% Calculation: WACC = (1-t) * rd * (D/V) + re* (E/V) Where: D= market value of DEBT re = aftertax cost of equity E = market value of EQUITY V = D+E rd = pretax cost of debt t = tax rate To calculate the formula above‚ we need to determine each component Tax rate (t) 56% --> calculated before LODGING Step 1: Calculate unlevered beta using similar companies Hotel Beta (β)
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Quality philosophies Evolution of TQM philosophies The Deming Philosophy Definition of quality‚ ³A product or a service possesses quality if it helps somebody and enjoys a good and sustainable market.´ Improve quality Decrease cost because of less rework‚ fewer mistakes. Productivity improves Long-term competitive strength Stay in business Capture the market with better quality and reduced cost. 2 The Deming philosophy 1. ³A System of Profound Knowledge´ Appreciation for
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Marriott Corporation: The Cost of Capital Executive Summary J. Willard Marriott started Marriott Corporation in 1927 with a root beer stand‚ expanding it into a leading lodging and food service company with sales of over $6 billion by 1987. At the time‚ Marriott had three main lines of business‚ lodging‚ contract services and restaurants‚ with lodging generating about 51% of company’s profits. The four key elements of Marriott’s financial strategy were managing hotel assets rather than owning‚
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TQM In An Accounting Environment Chapter One: Description of the problem: All companies need effective employees in order to complete the necessary daily tasks and attain a profit. Many employers do not receive the peak level of performance from their workers due to the fact that the employees do not feel they are having an effect on the quality of service they are offering‚ or cannot see any tangible outcome from their efforts. This chapter describes several different aspects of
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always deficient” (Al-Quran) “Actions are direct reflection of one’s intentions” (Al-Quran) The contributions of management gurus to total quality management Introduction To fully understand the TQM movement‚ we need to look at the philosophies of individuals who have shaped the evolution of TQM. Their philosophies and teachings have contributed to our knowledge and understanding of quality today. Their individual contributions are summarized in this research summary. Early 1950’s - Americans
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HBR Case #1 Marriott Corporation: The Cost of Capital Group 16—Tutorial Mon 11:30am Group members LIU Ying‚ Chloe | 1155019350 | LUO Yingying‚ Irika | 1155020931 | TIAN Tian‚ Sarah | 1155019114 | WU Jiajie‚ Jesse | 1155019061 | 17 September 2012 Executive Summary By 1987‚ Marriott Corporation had grown into a large multi-dimensional company with over $5 billion assets in lodging‚ contract services and restaurants. The company enjoyed fast growth in both sales and assets at around
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is IMS A scenario supported by IMS Main advantages to network and users Session control in IMS IMS-level Registration Registration Procedure Authentication flows during registration IP Multimedia Subsystem (IMS) Jun Lei Prof. Dr. Dieter Hogrefe Telematics group University of Goettingen‚ Germany Basic Session Setup IMS session establishment call flow IMS INVITE procedure Session Initiation Protocol (SIP) General IMS Architecture Basic Architecture of the IMS IMS-related
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