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In our analysis on the strategies and practices of going green, we start by analyzing the different aspects of going green that are related to engineering management and business practices.
Health and Safety
The health and safety of the employees is very important in any business or engineering field. Hazards which arise from a work environment have a great effect on the workers and employees. The employer therefore has a moral obligation and responsibility to ensure that the employees are not in danger and that the health of the employees is not likely to be compromised. In my job inquiry in this particular field, I noticed that some employees did not put on protective clothing while working. Going green entails a lot of outdoor work and the employees need to put on protective clothing such as gloves. My strategies will therefore ensure that safety programmes are put in place to ensure the safety of the workers or the employees. I will also ensure that health programmes which deal with disease awareness and prevention in the work environment are put in place. In my analysis I found out that there exist two elements in the occupational health prograamme. These elements include occupational medicine which specializes in diagnosis and prevention of health hazards. The other element is occupational hygiene which deals with controlling environmental hazards. In my outline plan I will include this element in order to ensure the safety and health of all the workers, employees and other stake holders.
In may outline plan, I have analyzed the problems and potential hazards; I intend to develop procedures and policies that will ensure health and safety of the workers at the university. I also intend to implement these developments and finally write a report on the same.
Funds and Finance
Finance is the employment of all the capital and funds in any organization. This is a very important aspect because it determines the capacity of the organization to carry out its business or tasks. In my analysis job I intend to analyze the investment decisions from the finance managers .The reason why I will start by analyzing the financial managers and the investments is because the financial managers are responsible for identifying and raising money for the investment purposes. I intend to look into the techniques employed by the fiancé managers, performance of the stock market at that given time, inflation, market interest rates, among many others. In my analysis I discovered that investments are affected by inflation, market interest rates and the performance in the stock market. (Blanchard, 2003)
In this regard, my strategy would be one that tries to reduce on the risks and losses on investments. In the analysis I discovered that there is a relationship between risks and returns. I also discovered that high risk investments would most probably give higher returns. However, this is just an assumption which may not be productive for job. It is better to go for exact figures for guaranteed results that to go for assumptions. My strategy intends to use simple interest rates to charge interest on the green products per year. In case the supplier of the green products charges 10% for the product per year and decides to sell on credit. In case the university buys green products worth $200 to pay in one year. Then the amount the university needs to pay back on the capital is $200 plus the accumulative interests of the years that follow (10% of $200 is $220). This simple interest accumulates in the years that follow. In my strategy, I also intend to use an annual percentage rate. In this calculation early payments are taken into consideration. In case the university borrows $1000 from the bank. It is charged 15% bank charges per year. The calculation will therefore be;
Interest to be paid 15% on $ 1000 = $150
Amounts due $ 1000 for ½ years = $500
$500 for 1.2 year =$250
The equivalent amount due per year = $900
The interest rate is therefore $150/ $900 is 20% on the APR
Time value of money
The value of money is related to inflation because of inflation. it is important o note that when money is received and invested it is expected to generate interest. Many other costs are involved in late payments. These costs include opportunity costs and premiums among many other costs. In this case, the company can face serious consequences on its performance because of costs of borrowing. The interest rate in the market helps to reflect the degree of deterioration of the money in question due to the time factor. It is important o make sure that the cost of borrowing is equal to the base interest rate. However, when the money is raised through the same market, then they will have to be charged a premium plus the base rate. In this case, the base interest rate should always accurately reflect the inflation for the lending period. This will help to reduce the risk of paying a premium on top of all the other costs. The company’s overall return should be pleasant and attractive. This will attract other lenders such as financial institutions to provide the funds required by the company. The overall returns should be presented in a tabular form in order to clearly present all the values and the total value of the investments. (Blanchard, 2003)
Marketing is the management process that enables the company to anticipate identify and satisfy the customer’s requirements and needs in relation to the business. The marketing process must focus on keeping the customers content and satisfied. In this regards, the company will be able to improve the general image of the company, reputation of the company,. Confidence in the market and create effective business relationship with the customers, clients and the stake holders of the company. Thus the marketing process s explained as customer centrality. This is because all the marketing strategies are designed and created to satisfy all the customer needs and requirements. (Klein, 1999) The first step to an effective marketing strategy is fro the company to carry out market intelligence. This can be done by carrying out a market research to obtain customer responses. The next step would be to generate product awareness through advertisements, presentation, image presentation, sales techniques among many other strategies.
Developing a Budget and Budget Control
A green strategy and practice is a very complex system which has many dynamic parts. In this regards, our strategy must be one that policy oriented and properly coordinated. A budget is important because it is a plan that is indicated and expressed in monetary terms. The budget that we develop should meet all the targets and requirements of setting up the green strategies as a smart engineer. (Kossiakoff, 2011) Aside from the budget we must have a recovery plan. This recovery plan will come in handy if a problem arising from our original budget. In our analysis, we are aware that our responsibility lies heavily on ensuring that all the policies are coordinated. A budget is approved or only last fro a specific period. The budget will attain the set objectives that we have laid down for the green strategies and practices. However, in order to achieve the set goals we must put a budget control in place. The budget must have achievable and acceptable budget targets that can be reached by parties involved. It must also clearly outline the responsibilities to ensure that objectives are achieved.
Human Relations and Motivation
In our study and analysis on human relations we learnt that human behavior is triggered by rational and instinctive processes in order to satisfy needs, drives and goals of individuals. This simply means that if the human desires, goals and anticipations are not satisfied it leads or triggers frustration from the individuals. In this regard, we intend to make an effort to understand the different attributes of workers and employees and try to develop strategies to help them reach their goals and expectations. These strategies involve respect and trust among many others. We also intend to encourage self motivation amongst the workers. This will ensure that the workers will be self motivated.
Findings and Recommendation
The findings my analysis about the various green strategies and practices currently used was diverse in nature. The findings involved analysis into many different aspects that were very essential in the planning, preparation and organization of our practices in going green at the university. These aspects involve the welfare of the employees, health and security of the workers, human relations and motivation of the employee, developing an effective budget and budget control, financial aspect of the company among many others. These aspects gave us a guideline on planning our strategies and practices on the same. We recommend and propose that in the green strategy, human relation and motivation should be maintained and encourages. We also propose that the health and security of the employees must come first. Funds and finance is a very important aspect that determines the survival and success of any organization. Thus the funds of the organization should be properly planned and managed. The investments should be doe wisely to ensure that the returns are higher than the risks. Lastly the budget should be properly planned, controlled and managed in order to achieve the desired results. (Blanchard, 2003)
This easy has successfully carried out the task of job inquiry into the various green strategies and practices which are currently used.Ths easy has tried to analyze many different aspects of the practices that may come up in university of Greenwich to enable the university to go green. The report includes the executive summary, body and findings & recommendations.