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2020-11-13 来源: 51Due教员组 类别: Essay范文



对于我们同学来说,永远无法预测导师会要求写哪一类的essay。所以要想写好essay,积累大量的知识同时又能掌握学术写作的相关技巧,就最为关键。一般来讲,导师会提前框定好主题和一些限制条件,而这些都会对我们的写作造成困扰——你的选择余地大受约束。essay的分类其实有很多种,这些essay的形式可能是research paper、narrative essay、book report以及其他的各类学术论文。所以essay写作前,必须弄清楚是哪一种类型,还有具体的字数等要求,这样做到有的放矢。









The most important thing is that you need to choose your topic correctly. Try to evaluate your favorite problem. If it is broad, you will need to familiarize yourself with a huge number of sources, which can be too difficult. And no one will cancel the time limit for writing a term paper. A narrow topic is dangerous to others – a shortage of sources of information (the methodical recommendations indicate the minimum number of such sources). However, if you can find the necessary materials on a narrow topic, then this course work will be valued more than the presentation of material on a broad topic.



One of the most difficult challenges for a writer is to present the coursework in an effective manner and to write the content in the prescribed form the writer needs to have proper knowledge and details of the Topic. The well-Presented Coursework includes:

A) Avoid using Bullets or Numbering because it can disrupt the reader while reading the main content or body written in the whole task.

B) Use Proper Series for representing the coursework, the appropriate series of coursework may include:

a) Introduction

b) Main Body

c) Conclusion

C) Give proper Numbering to in the coursework, follow all the basic rules of writing the task.

D) Maintain Focus on the Topic while writing and this will result in a relevant and meaningful material representation.



Coursework Writing Requires some of the basic rules which are must be considered by the writer to get an effective and useful task, such rules are as below:

1. 不要抄袭: The original and meaningful data must be written in coursework in your own words.

2. 紧贴主题: The topic which writer is writing, he must maintain relevancy with the content and data.

3. 字数检查: The Word Count must be checked properly because one should not exceed or write fewer words than a given limit.

These rules are must to be followed to avoid unnecessary mistakes in any Coursework.




Coursework sample 1: Dollar liquidity

It is well known that fluctuations in U.S. economic growth have a significant impact on world economic growth. It is generally believed that the us recession and growth affect other economies mainly through two channels, one is trade channel, the other is financial market channel. In terms of trade channels, the expansion of the us foreign trade deficit has become a major force affecting other countries' economies. Therefore, the dependence on the us trade is an important factor to determine the extent to which the country is affected by the us recession. As far as financial market channels are concerned, with the increasing financial correlation among countries, the price correlation of similar assets in each country is also increasing. Therefore, the more open a country's financial system is, the stronger the synchronous volatility between the country's financial market and the United States will be. Ayhan Kose and Christopher Otrok in order to quantify the global business cycle itself and its scope, set up two different dynamic factor model, one is annual model of 93 countries, one is the group of seven quarterly model, analysis shows that the United States and the European Union economic growth margin of spillover effects of trade partners completely correlation is consistent with its trade, and financial correlation is higher and the United States through spillover effect is bigger. Spillover effects in order to further study in the United States, the international monetary fund, the researchers will a country to trade volume share of American GDP ratio to measure the depth of the country's trade with the United States, through the analysis of the panel that the United States economic growth impact on economic growth in Latin American countries is quite significant, for new industrial countries and asean countries have obvious short-term impact. Alberto chon used the combined share of a country's foreign exchange assets and foreign exchange liabilities as a share of GDP, as well as the ratio of U.S. assets held to U.S. residents' debt and GDP to measure the depth of the country's financial ties to the United States, and analyzed the impact of U.S. GDP fluctuations on the country.


It can be found from the literature summarizing some event studies that, first of all, the impact of recession or growth in the United States on other economies is non-uniform, and different periods and countries will show great differences due to the initial conditions of economic growth, economic vulnerability and policy response at that time. In the 1980s, the us trade deficit was mainly reflected in the trade surplus with Japan and Germany. In the 1990s, the us trade deficit was mainly reflected in the trade surplus with emerging market countries. Since the 21st century, the us trade deficit is mainly reflected in the trade surplus with Asian countries, including China. The resulting trade deficit and surplus structure resulted in the corresponding country being affected by the us recession and growth much more than other countries and regions. Second, the spillover effect of us economic fluctuations is not only the trade channel and the financial channel, but also the cross channel between them. More importantly, it directly leads to the drastic fluctuations of global asset prices. Among them, the change of dollar liquidity plays a crucial role, which has mutual influence and self-enhancement mechanism with global economic cycle and global asset price cycle.


In this paper, the us dollar liquidity cycle as a basic analysis framework to analyze its spillover path to the global economy. The reason why this paper takes the dollar liquidity cycle as the breakthrough of the research is directly based on the logical evaluation of the inherent limitations of the existing research results, the analysis of the American economic structure marked by the high development of virtual economy and the functional absence of the arrangement of the contemporary international monetary system. First, the dollar liquidity cycle is the core and key to connect the global economic cycle and the global asset price cycle. Only by clarifying the characteristics of the dollar liquidity cycle can we better grasp the power source of the contemporary American economic cycle and the context of the global economic cycle. Secondly, the cyclical change of us dollar liquidity not only brings about significant adjustment of global capital flow pattern, but also brings about exchange rate instability, changes the world's price system of strategic commodity resources, and causes the volatility of equity asset prices.


As we all know, money has five functions: value measure, circulation means, storage means, payment means and world currency. Among them, the value measure and circulation means are the basic functions of money, the other three functions are successively appeared in the development of commodity economy. With the evolution of commodity economy, market economy and financial economy, many financial assets have monetary functions. As for which assets are so functional,James Tobin notes that this is determined by the underlying nature of such assets and the markets in which they are traded. To this end, he attributes these assets to liquidity, reversibility, separability, predictability of value, and return and return attributes. In particular, he emphasized that liquidity refers to the degree and speed of the realization of asset value. Whether an asset has a part of the function of money depends not only on the liquidity itself in this sense, but also on the combined performance of the above five characteristics. Only to a certain extent can the asset be "quasi-currency". It is precisely because there is no accurate measure of this composite performance that it is impossible to tell which assets belong to "quasi-currencies", so these "quasi-currencies" and currencies are collectively referred to as liquidity.


Based on the above liquidity meanings, liquidity can be divided into three levels, namely monetary liquidity, banking system liquidity and financial market liquidity, according to the entity creating liquidity, such as central bank, commercial bank and financial market. These three levels of liquidity are related to each other, forming a causal chain of monetary and financial influence on economic activities. Due to different research perspectives, the liquidity vectors selected by various literatures are quite different. The purpose of this study determines that the liquidity vector selected in this paper must satisfy three conditions. Second, the carrier has a strong influence on the financial market and even the macro economy or should have a good explanatory power in line with economics. Third, the data is available and quantifiable.


The us financial system has undergone profound changes since the 1990s. The continuous emergence of innovative financial instruments has greatly accelerated the liquidity of various financial assets, and the mutual substitutability between financial assets has increased. On the basis of monetary liquidity, the expansion of credit instruments has generated a larger amount of market liquidity, and the direct effect of money on the economy has given way to credit instruments. Homogeneity trend at the same time, financial business integration and financial institutions for the business between commercial Banks and non-bank financial institutions, boundaries become blurred, commercial bank lending more depend on the basis of the interbank market, the commercial paper market, and asset-backed securities, of various non-banking financial institutions also have traditionally only the function of the commercial Banks to create unique currency. Non-bank financial institutions, like commercial Banks, have become the most important financial institutions operating credit business in the United States. The total credit size of the two represents the overall credit level of the American credit market. Therefore, the connotation of the liquidity of the banking system and the channels affecting the liquidity of the financial market have also changed.


Based on the above understanding, the research institute of citic securities took the velocity of money circulation as the carrier to measure the liquidity of us dollar, and set the velocity of money circulation = the growth rate of production in 32 industries + the inflation rate - the growth rate of money. Tobis Adrian and Hyun song sbin used the cumulative growth rate of financial institutions' balance sheets as a measure of dollar liquidity. Most literatures take M2 as the measure carrier of liquidity. The M3, which has been recommended in some literature, was excluded because the fed stopped publishing the data from March 2006 and lacked the availability of the data.


The indicators such as M2 and the sum of the total credit level of commercial Banks and financial institutions can meet the first and third conditions as liquidity carriers. This paper adopts the quarterly data of M2 growth rate and GDP growth rate published by the fed website database. The sample interval is from the first quarter of 1984 to the fourth quarter of 2009. After the single-root test, co-integration test and granger causality test, it is found that there is no obvious granger causality between M2 growth rate and GDP growth rate. It can be seen that the use of M2 as a us dollar liquidity carrier does not meet the second condition.


In order to investigate the granger causality between the total credit level of the us credit market and GDP, this paper selects 93 quarterly data of the growth rate of total credit size of American commercial Banks and financial companies and the growth rate of GDP. The sample range is from the second quarter of 1986 to the fourth quarter of 2009.


Compared with the change of federal interest rate of one of the monetary policy instruments of the federal reserve, it can be found that liquidity release has no obvious correlation with the reduction of the federal funds rate. Others are periods of higher interest rates and holding rates steady. From the comparison in figure 3, it can be seen that the fed's interest rate cut or interest rate hike is not the absolute factor determining the release of liquidity.


According to the traditional macroeconomic framework, the spillover effect of us economic growth is to affect other countries' economy through trade channels, financial channels and foreign investment. When we go deep into the level of us dollar liquidity, these three channels are only the manifestation of the spillover of us dollar liquidity cycle at the level of international economy and macro. Its overflow has the following properties:


In the cycle of dollar liquidity release, the price of us financial assets rises, resulting in a wealth effect that boosts private consumption spending, which in turn increases us demand for traded goods. Growth channels reflect the role of U.S. economic growth in the real economy of the rest of the world. During the period of inflation of financial asset prices caused by the release of dollar liquidity cycle, the foreign financial investment in the United States also showed cyclical changes. Figure 4 is a comparison between the total amount of us dollar liquidity, total amount of us import and total amount of foreign financial investment.


For further investigation of dollar liquidity and imports of U.S. trade and services as well as the relations between the United States foreign financial investment, about 1983 to 2009 dollar liquidity, imports of U.S. trade and services, and the United States foreign financial investment of co-integration analysis and granger causality analysis, to determine whether there is a long-term and stable relationship and the relationship between the before and after. The data use the first quarter of 1983 to the fourth quarter of 2009 for the three indicators published on the federal reserve website.


In the dollar liquidity cycle changes, international commodity futures trading prices also showed cyclical changes. To further clarify the relationship between us dollar liquidity and international commodity prices, we use CRB index as an indicator to observe international commodity prices. The CRB index has been adjusted ten times, and the weight of energy and precious metal prices has been relatively increased, which generally reflects the dynamic information of the world's major commodity prices.


The total credit size of commercial Banks and financial institutions in the United States as a measure of the liquidity performance of the dollar accurately and comprehensively reflect the tightness of the dollar liquidity. This index has the following characteristics. Firstly, it has a strong influence on the us financial market and even the macro economy and has a good explanatory power in line with economics. Secondly, the index data is available and quantifiable. Its periodic change and the periodic change of American economic growth have very strong phase; Fed rate cuts or rate hikes are not the absolute determinant of liquidity release.


The impact of us dollar liquidity spillover on international economy has growth property and inflation property. Therefore, the spillover effect of us economic growth can be better understood by grasping the dynamic changes of us dollar liquidity.


Coursework sample 2: Humanized design

The scientific outlook on development refers to the theme of putting people first, which shows that people occupy a dominant position in life. This paper discusses the humanity of design around the application of human nature design in life. First of all, the concept of humanized design starts from the beginning and points out the main areas of humanized design. Secondly, through the successful application of humanized design in interior design and product design, the advantages of humanized design are illustrated. Finally, summarize the future trend and importance of humanized design.


The concept of humanized design and design are inseparable, refers to the process of the design in the original based on the premise of the basic function of design considerations will people daily behavior habits, the body's physiological structure and psychological situation to such factors as the mode of thinking is also considered to design for the audience in the process of interaction more portable, comfortable and durable to use, etc.; Humanized design is the crystallization of the wisdom of it will be combined together: science, technology, art and human nature in the design of the background of science and technology to ensure the structure of the solid and practical function, art and humanity in design is full of fun and vitality.


Design in the contemporary life is everywhere, but less good design, good design can let a person cheerful life, bad design can affect the person's life, bring inconvenience or even result in a bad mood.


Interior design is to point to according to the nature of the use of interior space, the environment and the corresponding standards, using the material means and architectural aesthetics principle, create a reasonable, comfortable and beautiful will satisfy people material and spiritual needs of the indoor environment. Interior design is a big category in design, which is closely related to people's living life.


The house refinement design advocated by professor zhou minyan of tsinghua university is the best example of humanization of interior design. Kitchen design, for example, in the kitchen, on the basis of the human behavior and the use of comfort and convenience, the height of cabinet put oneself in another's position is divided into upper, middle and lower three regions: the lower the height is 600 mm, is ground to body area of the vertical arm drooping fingers, access to inconvenience, must bend over or squat down operation, general access heavier or unusual items; The height of the middle part is 600-1800mm, which is the range of the shoulder axis and the radius of the upper limb. Upper height is more than 1800mm, it is not easy to take the height of the item, need to stand on the stool or ladder, provide long-term fixed storage for light and not commonly used items.


Condole ark bottom elevation is small easy to cause operations to meet and keep out the line of sight, and the central mesa for 700 mm deep tank bottom elevation can reduce, to increase reserves, central mesa for 600 mm deep tank bottom elevation to rise, in case the line of sight block and head. These small sizes may not seem like much on their own, but they are obvious in everyday life. The reasonable design of the cabinet size can be more convenient for us to take the goods, which can effectively avoid unnecessary collision between people and the cabinet, so that people can live a more comfortable life.


Product design is a creative process of integrated information processing is through a variety of elements such as lines, symbols, Numbers, color combinations of methods such as the shape of the product in the form of a plane or three-dimensional display. It will be a person of a particular purpose or need into a specific physical or tools, the process of planning, planning ideas, problem solving, to introduce a method, through the concrete operation, expressed in the form of the ideal. Product design is also very close to people's design scope, it directly touches People's Daily life living. When it comes to product design, we have to mention the most revolutionary product iphone. Below, we will see how it can change our life to the utmost from the perspective of application types.


For example, the iphone divides its system into three main types of Applications: Productivity Applications, Utility Applications and Immersive Applications. The main service scope of efficiency application is to help users complete daily needs of life, such as photo management and sharing, email sending and receiving, closing and opening of various applications, etc. Such applications typically come with a natural hierarchy; The utility is mainly used to execute a series of simple task commands. Immersive applications are designed in the broadest range and can provide a rich experience for users through different games and entertainment. Each of the three applications has its own unique features and applications. The iphone is really designed for people, it's really designed for people.


The design aims at whether to meet the physiological and psychological needs revealed in people's own life, which is the incentive to promote the development of human design. The behavioral scientists maslow's hierarchy of needs theory put forward by the it from low to high is divided into five levels of hierarchy is physiological needs, security needs, social needs, respect for the needs and self-actualization needs. He points out that the relationships between the five levels rise step by step, and that the needs of the upper level must be relatively satisfied if the needs of the lower level are to be generated. So also in the same way, human design, from simple rough design form, the practical spirit to dealing with cultural factors of humanized design trend that he mentioned the embodiment of the hierarchy of needs rise step by step. That is to say, with the continuous development of society and the accelerated pace of life, people need more high-level and spiritual comfort. This is especially true in the information age when competition is fierce. Therefore, humanized design is the inevitable result of social economy and human development, and the internal demand of human needs to rise at a higher level. Design can change our life, but the higher level of humanized design can make our life more happy and happy. From http://www.ukassignment.org/ygcourseworkdx.


coursework writing


Coursework sample 3: Outsourcing of Enterprises

The key to outsourcing is to take the business which is not good at and the least value creation from the outside and realize the value increment of the whole enterprise.


At present,the management of a more popular value chain advocates outsourcing the less valuable parts of the enterprise value chain.Nike,for example,focuses on research and development and marketing,while leaving manufacturing to low-cost shoemakers that are constantly changing,first in Japan,Western Europe,South Korea,and then in Chinese Taipei,China and India.It can be seen from such a route that the profit-driven capital has been looking for the lowest-cost outsourcing strategy.It was the cost of labor that determined shoemaking,so Nike eventually moved manufacturing to China,where labor costs were low.Of course,if China enters an era of high welfare benefits and labor costs are similar to those in developed countries,for example:when it is cheaper to drive a car than to take a taxi,then Nike's processing plant will move at that time!Such outsourcing of production is based on the satisfaction of manufacturing quality and low cost.


In addition,there are many virtual enterprises,such as the famous children's clothes of parkland,which do not make children's clothes themselves,but focus on design.


The key to outsourcing is to take the business which is not good at and the least value creation from the outside and realize the value increment of the whole enterprise.In fact,China's state-owned enterprise reform has made good use of this strategy.The former state-owned enterprises are large and complete,with hospitals,primary schools and so on.It is like a small society.Under such circumstances,how can we expect elephants to dance?Therefore,the most important part of the reform of state-owned enterprises is the fire.This is typical of outsourcing what you are not good at.It is through this practice that soes focus on operation and regain their vitality.


What corresponds to outsourcing is that the enterprise extends to the upstream and downstream of the industrial chain to achieve synergistic effect,reduce cost and realize value-added.So how should companies choose between outsourcing and integration?


Generally speaking,large monopolistic enterprises tend to integrate the industrial chain.Due to the advantages of capital,they improve the monopoly power of the market through controlling various resources.In order to enter the highly competitive market,some small enterprises choose to focus on their core competitive projects.Gain a share of the market through the transcendence or differentiation of core advantages.Of course,this core competitiveness of enterprises is to be recognized and accepted by consumers.


However,in practice,the enterprise's judgment on non-core business is not clear,and it is generally believed that the enterprise's logistics is a non-value-added link,which tends to be outsourced.But such standards are not universal.Joyo,for example,has its own logistics and aims to meet customer needs to the maximum extent possible.Compared with traditional shopping,e-commerce has a convenient feature.You can order the goods you want without leaving the house,but there are also defects,that is,you cannot get the goods in the first time.Therefore,excellence works on logistics,because logistics is the only opportunity to meet customers face to face.At present two big net buys the book website,dangdang and outstanding are not equal in the purchase operation interface,so only then in the logistics,the warehouse up and down efforts.That is to maximize the variety and delivery speed to meet consumers.It can be seen that customer satisfaction is the primary criterion for excellence in non-core business.By the same token,should companies that are engaged in everyday consumer goods use this as a standard for judging non-core businesses?Therefore,management is really an art,not a pure science.The situation of the enterprise is very different,the simple imitation must not be.


Vanke, the industry's leader,has been a firm enforcer of this strategy,an outsourcing enthusiast.Everything is outsourced except"brand","design"and"manufacturing".The industry also has the opposite"alien"-country garden.Country garden implements"the integration",will design,the building construction,the decoration,the property management all USES own pattern,even has own battlefield,the cement factory,the brick and tile factory and the vegetable garden realizes the cost control successfully.We can see that companies with different strategies are equally successful.But why?First of all,there are many reasons for vanke to adopt business outsourcing.In my opinion,the main reason is that after the large-scale expansion of vanke,its control power and capital demand are challenged.Therefore,wang shi came up with the idea of outsourcing.And proposed that the new benchmark of vanke is"Nike".I think the selection of this benchmark is not considered.As mentioned above,the quality of daily consumer goods will not become the bottleneck of manufacturers of daily consumer goods after fierce competition.Industry entry threshold is low,in addition to quality,customers also value style and comfort.As a sneaker,the function is also the focus of consumers.Therefore,Nike has outsourced manufacturing to manufacturers in developing countries with good cost performance and focused on its core competitiveness:research and development and brand.Cut off from the red sea and enter the blue sea.Vanke benchmarking as"Nike"do not know whether to consider the difference between the house and shoes?People can wear a lot of shoes in their life.As a woman,they may buy three or four pairs of shoes in a year.According to the average age of a woman is 80 years old.But can a person buy more than 100 houses in his lifetime?Don't!So what is the core competitiveness of the real estate industry?Isn't it true that the real estate industry is not suitable for outsourcing?Scholars such as harvard business school professor christensen believe that in the early stages of product development,the product's functions are far from meeting the needs of mainstream customers,when the competition between companies is based on product performance.In this case,integrated companies have more advantages than non-integrated companies because they organize all the links in the value chain under the same roof and can develop products with better performance.However,with the development of technology,product performance has been able to meet the needs of most customers,and companies have focused their competition on convenience,customization,price and flexibility.At this point,vertical integration will become a disadvantage instead of an advantage,so the industry will tend to diverge.Whoever controls the interdependent links in the value chain can make more profits.Interdependencies are areas where companies are still trying to meet their customers with better product performance.This conclusion confirms the above views on shoes and houses.Therefore,vanke's outsourcing starts from the challenge of management and capital,rather than the counterbid with Nike.


Let's take another look at the emergence of country garden:what makes it choose the integration strategy?Country garden's core competitiveness is low cost.In the national increasingly unbearable high housing prices,Shouting the slogan"a villa of 500,000 yuan",no doubt in the market earned enough popularity,country garden differentiated to target consumers as not too much money and have a strong desire to buy the white-collar,this group of people for price has considerable sensitivity.As a result of low cost advantage,promote country garden to hit extremely competitive price.An integrated strategy is a boon for low costs.But integration requires a high degree of control.Country garden is a typical family business,carrying out Yang guoqiang's paternalistic vertical management,control is quite strong.


 From the above comparative analysis,we can see that the choice of outsourcing strategy needs to consider many factors such as market,consumer,enterprise scale,enterprise development stage and so on.Even in the same industry,the choice of outsourcing strategy is different due to the diversity of enterprises.


 Since there are so many elements to consider when choosing an outsourcing strategy,let's take the most intuitive approach--let the financial Numbers speak for themselves.The consideration based on cost reduction has limitations,and the"profit"indicator can be considered for consideration.Why use the accounting word"profit"?Because,it is possible that the simple cost reduction brings about the quality reduction,and then the profit reduction.For example,if the enterprise is more professional after outsourcing,it is actually considering the level of"profit".If the outsourced business is done more professionally and brings greater value to the enterprise,even if the cost is increased,the income is higher,and the final result is big"profit",then the business should be outsourced.


There are also limitations in the consideration of"profits".After all,"profits"represents only"short-term achievements",and cannot realize the long-term dynamic measurement of the enterprise after the decision.Because,every year business profit account will be cleared.For example,consumers will be attracted by the quality improvement brought by outsourcing.The agglomeration of consumers is a long process.


It seems that it is really necessary to consider carefully whether the outsourcing of business should be done or not.Can the method of introducing cash flow discount in finance be used as an experiment?This is the author of an idea,believe that the test of practice,the answer will be clear.


For companies,whatever strategy they choose,they have to choose the best,not the most popular,not the most western.


Coursework sample 4: Inventory management

With the development of China's economy, the inventory management of enterprises has gradually become the key to restrict the development of enterprises. The level of inventory management will directly affect the level of production costs and profitability of enterprises. But at present, the enterprise inventory management still has many problems. By sorting out and analyzing the existing problems in inventory management, this paper puts forward corresponding Suggestions and improvement countermeasures, so as to promote the optimization of inventory management, improve the inventory management level of enterprises and increase the economic benefits of enterprises.


At present, most enterprise managers in our country lack of correct inventory management awareness. Focus only on product sales and market expansion, ignoring inventory management. They tend to overestimate the market demand and underestimate the risk of inventory overstocking. It only pays attention to the physical management of the inventory, but ignores the value management of the inventory, which leads to the derogation of the value of some seasonal and highly fluctuating long-stock stocks. Especially in the current market economy environment, the price of some products fluctuates greatly with the economy, and without the correct inventory management awareness, enterprises will bear greater risk of price fluctuations. The concept of inventory management of the enterprise management is backward, and the traditional view is that inventory management is only the responsibility of the enterprise's warehouse department, and has nothing to do with other departments and other personnel. On the whole, there is a lack of enthusiasm and coordination, and the concept of full participation in inventory management needs to be improved.


Although some enterprises have established the inventory supervision and management system, it is not based on the actual operation of the enterprise, but only based on the model system to make some basic provisions. The regulations are not specific, the content is not comprehensive, the process is not sound and other problems, enterprises encounter some practical problems without rules to follow, the guidance of the system is difficult to play an effective role. In the actual implementation, the division of rights and responsibilities is not clear, there are disjointed phenomena in the links of procurement, acceptance, storage, delivery, inventory, etc., and when there are problems, there is serious buck-passing among departments. In order to save labor costs, one person often holds several positions, even in the handling of audit, material procurement, acceptance and warehousing, storage inventory and other incompatible positions also exist phenomenon. As a result, hidden box operation and malpractice for personal gain occurred, which was specifically manifested as purchasing and accepting kickbacks and purchasing unqualified materials with high quality and price, warehouse staff stealing, inventory theft and damage, etc., which caused economic losses to the enterprise.


The weak link in inventory management of most enterprises is to make inventory purchase plan. Before inventory purchase, there is no reasonable plan for inventory purchase quantity, mode, time point, etc., no analysis of the enterprise's own production and operation situation, no special market research and analysis by the purchasing department, and the prediction of market demand change trend is not accurate. Information communication with other departments of the enterprise is also rare, which leads to the fact that the inventory purchase is not in line with the actual production and operation of the enterprise. Either the inventory overstock increases the inventory cost, or the insufficient inventory reserve affects the normal production and sales. Enterprise in inventory management, still is one of the traditional inventory management methods, for procurement procedures simply based on historical data and the seasonal characteristics, comprehensive purchase agreement to determine the purchase plan, procurement plan lacks rationality, also as a result, enterprises will face the shortage of inventory at any time or risk issues such as excess inventories, inventory is insufficient, affect the operation of enterprise production, increased the enterprise the management risk, buying excess inventory will make enterprise liquidity is occupied by a large, enterprise capital risks.


At present, the transmission of inventory management information of some enterprises in China is quite different from the average level of the same industry, which needs to be improved. Some enterprises mainly rely on the traditional manual collection and inventory information, computer and modern network information technology is rather backward. Due to the wide variety of inventories, relying on manual accounting without the help of modern computer information system will lead to time-consuming and laborious inventory management, low efficiency and poor accuracy, which will seriously affect the reliability and information quality of inventory data provided by enterprises and affect the analysis and decision-making of production and operation of enterprises. In addition, the information transmission under manual management has hysteresis, and it is not able to dynamically understand various inventory status information in real time. The communication with suppliers, dealers and customers is mainly through manual one-way communication. It is difficult for enterprises to timely and comprehensively grasp the market supply and demand situation of required raw materials and the final sales situation of distributed products, so that they cannot make correct production and operation decisions and arrange the procurement and production of enterprises. Although some enterprises have established a small range of information systems, they are still limited to departments or enterprises, and cannot transmit and share information between departments and upstream and downstream enterprises, thus restricting and affecting the improvement of enterprise inventory management level.


Consciousness is the internal motivation for the development of objective things, consciousness determines the height and action, and the management level is the leading core of an enterprise, which determines the development direction of the enterprise. Enterprise managers should first clearly understand and position themselves ideologically, position inventory management at an important ideological level, allocate how much manpower, material and financial resources to manage inventory, and guide and support daily inventory management. Corporate management should be clear about the importance of inventory management, the enterprise inventory management into enterprise daily agenda, through training learning inventory management policy, clear the goal and the value of the inventory management, form the ideological value, especially attaches importance to enterprise management, through the role of corporate leaders set an example, form good corporate culture, improve the inventory management consciousness, guide the staff to participate in the management. Only by paying attention to the thought and supporting the action, can the inventory management work be carried out smoothly, because the final thing is to rely on people to do, and ideology is the key to leading the action. From the ideological level of attention to inventory management, inventory management for enterprises to provide a good basic environment.


Standard and sound inventory management system can promote the orderly development of enterprises. To strengthen the inventory management of an enterprise, it is necessary to start from perfecting various inventory rules and regulations and establish and improve the daily supervision and management system of inventory. Inventory daily management process is procedural, such as inventory procurement, transportation, acceptance and warehousing, receiving and using, measurement and outbound sales can be regulated by establishing a series of specific rules and regulations. If an enterprise can achieve good management and development, improve the internal management system is very important, such as a post changes occurred in the work, a good system of enterprise that does not affect the normal work orderly, because the system is constant, then replaced personnel can still good work flow to operate according to the original design. The same is true of inventory management operations. A good system should produce a good management effect, strict supervision and implementation is the key, the division of department authority and responsibility, clear financial relations, so that each link to achieve an orderly connection, avoid the occurrence of buck-passing each other, the implementation of the principle of incompatible position separation, improve the supervision and management mechanism, timely feedback on the implementation of the situation.


The inventory target of the enterprise is to ensure the reasonable reserve inventory and reduce the storage cost of inventory. At the same time, we should ensure the normal and orderly production, reduce the risk of inventory shortage and improve the economic benefits of enterprises. It is particularly important to strengthen the rationality of procurement planning. In order to make a feasible procurement plan, an enterprise shall first analyze its own production and operation, understand its production consumption and determine the amount of inventory insurance reserves. Second, must carry on the adequate market research, in the procurement plan, deal with enterprise market environment facing the extensive investigation and study, understand the current situation of economic development, industry development, and purchase inventory related policies and regulations, market supply and demand situation, procurement strategy of competitors, suppliers, financial situation and so on. Ensure the procurement plan is carried out smoothly. Finally, it is necessary to strengthen the communication and contact with other departments of the enterprise. It is necessary to make a reasonable analysis of the production plan of the enterprise and the requisition form of the using department. It is necessary to combine the budget procurement cost, sales plan and the current inventory status to ensure the reasonable order quantity, and at the same time to reduce the inventory related costs and increase the benefits of the enterprise. At the same time, enterprises can adopt economic batch method and other scientific methods to minimize the total cost of inventory procurement and storage. Strengthen the scientific management of the enterprise inventory, from the actual business situation of the enterprise, comprehensive consideration of various factors, so as to formulate a scientific and reasonable procurement plan.


Through the use of modern information management system, companies can more effectively use all kinds of information resources, the enterprise through the use of ERP information sharing platform, can not only for the first time the customer demand for products, will also be able to timely obtain the recent production plan, material and product storage information, make the enterprise inventory management more directional and guidance. A good ERP information management system is not only helpful to improve the timeliness and accuracy of enterprise inventory cost accounting, but also helpful to strengthen communication and cooperation among various departments to realize timely transmission and dynamic update of inventory information of various departments, so as to improve the efficiency of enterprise inventory management. Therefore, enterprises should make full use of modern information integration management software, such as the use of supplier management system to optimize the inventory management of enterprises. Existing ERP inventory management system module to maximize the development and utilization, the enterprise all the job information integrated into a unified information management platform, realize the material flow, document flow and information flow orderly integration, ensure that the data provide timely, accurate and efficient, reduce costs, reduce artificial accounting errors and subjective manipulation, improve the efficiency of inventory management, saving the cost of management.


To improve the level of inventory management, enterprises need to start from their own actual situation, effectively improve the management awareness of inventory management, adopt scientific inventory management systems and methods, and make full use of the information system to solve the problems in inventory management. Reasonable inventory reserve, improve the efficiency of inventory turnover, reduce the occupation of enterprise capital, reduce the cost of inventory, improve the economic efficiency of enterprises, improve the market competitiveness of enterprises, and promote the better development of enterprises.


Coursework sample 5: Community Banks in the United State

Community Banks have long played an important role in the U.S. economy. However, after entering the 21st century, community Banks are confronted with a changing business environment and face many major challenges. Ben Bernanke, chairman of the federal reserve, speaks at the national convention and the world conference on technology in Las Vegas, Nevada, on March 8. This paper discusses the robustness of community Banks, their role in the economy, and how the federal reserve, the regulator of community Banks, is adapting to the new environment.


By all measures, community Banks have generally performed strongly recently. For example, the average return on equity, which fell in the wake of the 2001 recession, is still stable and rising slightly. Generally speaking, the return on assets of community Banks is similar to that of return on equity, and has been steadily higher than the benchmark of the best performance in history. Net interest margins are still higher than at big Banks, and have widened even since 2003. In terms of various indicators to measure the quality of loans, the performance of community Banks is also quite high. Moreover, the fed's on-site and off-site inspection systems only detected potential problems at a handful of community Banks. The capital adequacy ratio of community Banks is still very high, and there is still a lot of room for community Banks to continue absorbing savings.


A strong indicator of the continued health of community Banks is the rate at which new community Banks are created. For example, if we define a community bank as a bank or savings institution with total real assets of about $1 billion, there will be about 700 new community Banks established from the beginning of 2000 to the end of 2005, with an average annual growth rate of 120. Clearly, many people are still optimistic about the future of community banking. The fed has always believed that community banking will remain a vibrant and innovative sector of the U.S. economy.


At the same time, community Banks are also facing great challenges. Trans-regional expansion of bank operation, rapid update of financial service technology, increasing importance of non-bank financial service institutions, evolution of economic growth model and other factors are changing the banking industry. While many of the changes have improved the efficiency of the financial system as a whole, they have reduced the cost to Banks' customers; But it should also be acknowledged that these changes are new challenges, even daunting ones, for community Banks.


We have seen major changes in the structure of American banking in recent decades. By that definition, the share of banking assets owned by community Banks fell from 20% in 1994 to around 12% in 2005. The total number of community Banks fell from more than 10, 000 in 1994 to about 7, 200 in 2005. Other definitions of community banking and other measures of industry structure, such as the share of total savings, have also recently shown a downward trend.


Much of the focus on community banking can be attributed to mergers. A recent study by fed staff found that more than 3,500 Banks and thrifts merged between 1994 and 2003. In 92% of mergers, the target institution's total assets are at least $1 billion. Although bank mergers declined from the late 1990s, at least 200 mergers were completed each year from 2000 to 2005.


Research by our fed staff and other economists shows that community Banks continue to play an important role not only in providing financial services, particularly for small businesses, but also in providing financial retail services nationwide. Indeed, researches on community Banks habitually believe that the central principle of "community Banks" is Relationship finance. Relationship finance means that the value-added of financial services mainly depends on the continuous personal contacts between bankers and clients. Personal contacts speed up the flow of information and allow for more personalized services. Relationship finance strengthens the domestic economy by effectively providing credit and other financial services.


However, recent research also confirms what many community bankers say: traditional concepts of relationship finance are changing with the nature of the community bank-client relationship.


The traditional research paradigm holds that small businesses and households are often opaque. In other words, information about these potential customers is costly and difficult to quantify. Thus, effective provision of credit to these customers requires intimate interaction to obtain "soft" or qualitative information, such as the borrower's personal qualities or information about local market conditions and investment opportunities. This research paradigm argues that big Banks have a comparative advantage in lending to relatively transparent customers because they can obtain "hard" or quantifiable information from them, such as standardised accounting data. Community Banks, on the other hand, have a comparative advantage in lending to opaque small businesses and households.


Yet this division of Labour between big and small Banks has begun to blur. Today, bankers and researchers are well aware that low-cost information processing fees, improved credit scoring system and more mature management techniques are increasingly reducing the opacity of information of many small businesses and households. Credit card borrowing is proof of that. Technological and financial innovations, including economies of scale in credit scoring, securitisation and data processing, have combined to make credit card borrowing a "hard" information, transaction-driven business. It is very different from traditional unsecured personal borrowing, which relies heavily on personal knowledge and personal relationships.


Some of the latest data from the fed's small business finance survey may provide useful information about how the role of markets and community Banks is changing. The fed does this every five years. The latest figures are from the end of 2003, and these are preliminary figures that will be released later this year. These figures are based on our survey of more than 4,200 small businesses nationwide, representing approximately 6.3 million small businesses across the United States. Surveys show that small businesses are the main users of financial services. For example, the share of small businesses doing some kind of financial business in a bank or savings institution rose from 92 percent in 1998 to 96 percent in 2003. There are many types of financial businesses that are gaining share, especially in the area of "financial management services". Financial management services include the following services, such as check clearing, cash management, letter of credit and credit card processing.


According to these surveys, community Banks remain important providers of these services, despite increasing competitive pressures. About 37 percent of small businesses that reported using Banks and thrifts in 2003 used community Banks, down from 42 percent in 1998. Over the same period, the share of small businesses using financial services provided by non-depository financial institutions shot up from 40% in 1998 to 54% in 2003.


While the survey shows that community Banks face increasing competition and competition from non-deposit financial institutions, it also highlights the importance of community Banks' traditional strengths, such as local branch offices. In 2003, for example, the median distance between the headquarters of small businesses and their Banks or thrifts was three miles, roughly the same as in 1998. Part of the reason for the success of nondepository financial institutions may be that the median distance between small business customers and their nondepository financial institutions has plummeted from 83 miles in 1998 to 37 miles in 2003. Much of the change is due to the closer relationship between customers and non-depository financial institutions that provide loans. Proximity and convenience are important.


The data collected as part of the bank's community reinvestment act activities also demonstrate the importance of proximity to customers. The CRA act is known to focus on financial services and borrowing provided by Banks within the local community. Using CRA and other data, we can approximate the share of loans that deposit-taking financial institutions lend to small businesses in the local market. The data also show increased competitive pressure from borrowers outside the market between 1996 and 2004. This conclusion does not surprise you at all. But in dollar terms, the share of loans to small businesses from outside the market has not risen above 18% in any given year. The vast majority of small business owners borrow from local lenders.


We know that community banking is complicated. From a financial point of view, the community bank performance is still quite strong, there is still considerable room to enter the community bank. However, new technologies and new management methods have nearly obliterated the information advantages of some traditional relational finance, and community Banks have lost some market shares to large Banks and non-deposit financial institutions. But the data also suggest that many customers want local financial services; They value proximity and convenience. I believe that community Banks' ability to provide strong relationships and personalized financial services remains an important reason for their continued success.


Like community Banks, bank supervisors must adapt to changing financial and economic conditions. Below we discuss some of the recent ways in which the federal reserve has regulated community Banks, and would like to briefly comment on some of the major financial risks we have observed.


In the 1990s, bank regulators began to adopt a more forward-looking, risk-focused regulatory approach. In this approach, regulators assess business activities that appear to pose the greatest risk, mainly through on-site inspections. At the same time, special attention will be paid to procedures for Banks to assess, monitor and manage those risks. The purpose of this kind of regulation is to solve the problems in management and internal control before financial performance suffers significant losses rather than afterwards.


To adapt, the federal reserve and other financial regulators must also consider the competitive pressures facing community Banks. This pressure has made the cost of regulation for community Banks a big problem. Wherever possible, we have simplified the regulatory process and worked to remove unnecessary regulatory measures. For example, based on industry feedback and regulatory experience, the fed recently revised the policy reporting rules for small bank holding companies to increase the total assets of eligible companies from $150 million to $500 million. These revisions are in line with changes in the banking and economic environment since the first policy reports were issued in 1980. Although only 6% of the assets of all bank holding companies were affected by the revision, the revision exempts about 85% of the total bank holding companies from reporting to the fed, thereby reducing the regulatory burden on many small firms. The companies will also be exempt from submitting uniform risk-based capital guidelines, and will be allowed to submit short semi-annual reports instead of uniform quarterly financial budgets. Under the revised terms, the exemption will not extend to bank holding companies with large non-bank businesses or large off-balance sheet businesses that hold large amounts of public debt or stock. Of course, we and other bank regulators will continue to strengthen prudential capital standards for all deposit-taking institutions, including deposit-taking institutions that are part of bank holding companies that are exempt.


Regulators have adjusted their procedures to take into account the needs of other community banking institutions. It is well known that the big Banks must accept the minimum capital standards in the new Basel capital accord. Similarly, federal bank regulators are considering changes to existing capital adjustment guidelines to regulate Banks that are not subject to the new Basel capital accord. These possible changes to Basel 1 are intended to increase the risk sensitivity of the framework and to help eliminate any unfair competition arising from the implementation of Basel 2.


The recent changes to the CRA rules provide another example that regulators are taking into account the uniqueness of community Banks. Last year, the federal reserve and other federal regulators jointly issued final CRA regulations. The regulation proposes that Banks with assets between $250 million and $1 billion are called small and medium-sized Banks, thereby reducing the full compliance burden. Smaller Banks now submit fewer data and reports to regulators, and they meet only two sets of cross-cutting CRA tests -- optimized lending tests and community development tests -- rather than the three-part CRA standard that only large Banks must accept. These changes are intended to reduce the operating costs of small Banks and improve regulatory flexibility, but still meet CRA's community development goals.


The fed has also become increasingly reliant on automated off-site testing tools to determine testing objectives and limit the burden of on-site inspections. Since the late 1990s, for example, fed regulators have overseen many small bank holding companies using an off-site testing program. We support the plan. The plan is to set up a target detection system aimed at identifying the negative factors in the parent company or non-bank institutions of insured deposit institutions. The plan could prompt us to restrict on-the-spot testing of bank holding companies that might pose a risk to insured deposit-taking institutions. We also use statistical models to detect the state of state Banks, which can quickly resolve any problems that arise between routine scheduled field tests. This year, we fully updated these models to improve their capabilities. As a result of these efforts, today's regulators can carry out more off-site regulatory activities, which helps reduce the burden of on-site inspections on institutions like community Banks.


In addition to these changes, the fed is participating in an ongoing joint inter-agency review of bank regulation under the economic growth and regulatory documentation reduction act. The purpose of this assessment is to simplify testing procedures and regulatory requirements at the appropriate time, but these changes must follow the objective of maintaining the safety and soundness of the bank. The fed also supports changes to various regulations that would ease the regulatory burden. These include changes recently proposed to allow regulators to widen the time interval between on-site inspections. For well-run, well-capitalised Banks of $500m, the gap between on-site inspections can be 18 months. The change triples the current threshold for bank size and makes it possible for some 1,200 community Banks to comply with the proposal for expanded on-site inspections.


Well-run and innovative community Banks will continue to play an important role in the U.S. economy. Community Banks provide their customers with the necessary financial services and make major contributions to the sustained growth of the local and national economies. Community Banks have done well over the past decade. But neither bankers nor regulators should be complacent. There is no doubt that we will continue to be asked to assess changes in the environment and adjust accordingly. Changes in the environment are often complex, difficult to understand, and even more difficult to predict.



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