LI & FUNG Case Study Example | Topics and Well Written Essays - 1000 words

LI & FUNG - Case Study Example In Asia, there are high oil-related costs, yet oil is an essential aspect in the economy of most countries. The high cost of oil therefore, has a considerably adverse effect on most companies in Asia. This also has an effect on a company’s selection of best sourcing. In addition, this also influences transport and shipping costs, including freight and sea. Therefore, these among other aspects of the business environment in Asia have resulted in most Asian-based companies raising their costs. So far, Li & Fung has registered poor sales in the European market. This therefore, poses a risk to its overall profitability. In order for this company to realise an improved performance in its European market, there are different adjustments that it needs to undertake in its approach in this specific market. First, Li & Fung should be customer-centred, and be driven by the demands in the market. This means that the company must have a special interest in its customers in the European market. This includes understanding the needs of the customers in this market. By being customer-centred, the company will be able to deliver the products that are specific to the customer needs, thus ensuring customer satisfaction. Similarly, the company should understand the product demands of the customers in Europe, in order to avail them products that they require. Li & Fung should also focus on its major competency. The company should as well consider outsourcing its non-major activities. This way, the company will develop a positioning in the supply chain. This aspect will be important in ensuring that the company lessens its cost and time on non-major activities, while paying more attention to the core activities that are of importance to the customers and the company itself. Li & Fung should also ensure that the production lead time for products is short, as well as the delivery. This is important in ensuring that there

How memory works Essay Example | Topics and Well Written Essays - 1000 words

How memory works - Essay Example This is stored with the usage of three ways. First of all, the human mind changes matter into storage forms. This is done by integrating memory with known events which can be things are seen, heard or experienced. This method is referred to as encoding. The second step is storage whereby the human mind places information in the memory for storage. The final part is the ability of a human being to recall and recover the stored information in times of need that is when a person needs to utilize the memory. An interesting aspect of human memory which is unique to the human memory is that their memory functions as a multi unit. The three basic divisions include the sensory memory, the short term memory and the long term memory. The sensory memory is one which comes directly from the persons five senses. This memory is not very long lasting and stays for around 350 milliseconds. This memory does not possess ways for improvement. In 1960 an experiment was conducted by George Sperling to test this memory. According to the procedure a group of people was shown twelve letters arranged in three different rows. Different subjects were asked to repeat the different letters present in different rows. The subjects recalled what they saw but they could not remember it for a long time. The experiment suggested that the sensory memory got erased after some time and the maximum capacity of the sensory memory that a person could retain was around twelve letters. The short term memory is the next step which is reached when the events are moved from the sensory part to the area of realization and perception. This information is also short lived but the time duration of this memory is greater than that of the sensory memory. This time is around 30 seconds and this memory is used basically in short tasks. But this memory does have space for improvement by a method which is known as chunking. Chunking as the name implies means to break in to pieces. An