The Role of Technology In HSBC

The Role of Technology In HSBC HSBC is known as one of the largest financial and banking services industries in the global background. Background HSBC know largest industries in the global financial and banking services as a. The company is headquartered in London and has an international networks which composes of over 10, 000 offices in more than 82 states and territories within Asia-Pacific Region, Europe, United States of America, Africa and Middle East. HSBC Holdings Plc are regarded to have around 200,000 shareholders in over 100 nations as noted in listings in countries like New York, Bermuda, Paris and Hong Kong. HSBC Holdings Plc, the company is located in east London and an international network which composes the mid 10, 000 offices and more than 82 African states and regions within Asia Pacific region, Europe, United States of America are , counting the 100 countries around 200,000 shareholders in countries such as New York as mentioned in the listing, Bermuda, Paris and Hong Kong. Because of the globa l network connects by the implementation of advances technology like the internet and information communication technology, the company has been able to provide an intensive range and reach of financial services which includes commercial banking, investment banking and market personal financial services, and other banking and financial products and services. The business philosophy of HSBC gives important to values and principles in all aspects of everyday living. Because of the global network communications and information technology like the Internet by following links to technology development, corporate and other, has been to provide services worth an extensive range financial and personal financial services to reach including commercial banking, investment banking and markets, banks and financial products and services. HSBCs business philosophy in all aspects of everyday life and gives the principles of values is necessary. INTRODUCTION OF HSBC: HSBC Introduction: HSBC is one of the largest banking groups in the world today. HSBC todays worlds biggest banking group is one. It has been ranked fifth largest company in Forbes Global 2000 and the third largest banking company as well. Forbes Global, the company in 2000 was ranked fifth largest and third largest banking company as. HSBC head office is located in the HSBC Tower in Londons Canary Wharf. HSBCs head office tower in Canary wharf London, HSBC is located. The HSBC group is named after its founding member, the Hongkong and Shanghai Banking Corporation, a bank established by, a Scot, to finance British trade in the Far East in 1865. Member HSBC Group is named after its founder, Hong Kong and Shanghai Banking Corporation, a bank founded by a Scot, in the 1865 Far East Finance business in the UK. HSBC has about 10,000 offices worldwide with 232,000 employees in 76 countries and territories. HSBC regions and 76 countries with 232,000 employees worldwide with about 10,000 offices. With its 110 million customers worldwide, a total of 16.5 million are e-based. 110 million from its worldwide customers, a total of 16.5 million is based on E. HSBC has really proven that it is The worlds local bank. HSBC has proved that it really the worlds local bank. The bank is the second largest corporation in the world in terms of assets. Bank assets in the world of words is the second largest corporation. It reports its results in US Dollars since 80% of its earnings come from outside the UK. This revenue comes from outside the UK in the U.S. results reported 80% of the dollar. Nearly 22% of its earnings comes from operations in Hong Kong. Before moving the headquarters to London in1991, it was headquartered in Hong Kong. Approximately 22% of the revenue operations in London, Hong Kong Kong headquarters before arrival. in1991, was located in Hong. Has the organization restructured recently? Recently reorganized company? If yes, why? 1) If yes, why? If no, why not? 2) If not, why not? What have been the consequences? 3) What results have been? Would most complex, large organizations have several functional grouping approaches? Does this matter? 4) is the most complex, large organizations view is planning several work groups? What? HSBC is a public limited company incorporated in England and Wales. HSBC Wales, a public limited company incorporated in England. Headquartered in London, the HSBC group operates in five regions: Europe; Hong Kong; the rest of Asia Pacific; including the Middle East and Africa; North America; and South America. Located in London, HSBC in five working groups in the region: Europe, Hong Kong, the rest of Asia Pacific, Africa and the Middle East including, North America and South America. The entities in which form the HSBC Group provide a comprehensive range of financial services to personal, commercial, corporate, institutional and investment, and private banking client. To more easily promote the Group as a whole, HSBC launched a campaign to differentiate its brand from those of its competitors by describing the unique characteristics which distinguish HSBC, summarized by the words The worlds local bank. A wide range of financial services for private corporation, as, commercial group s and investment institutions, and private banking clients. Promoting more easily provided in the institutions which form HSBC Group, HSBC brand difference between the start of the campaign for HSBC prominent features unique compared to those defined by, Proceedings of the words from The worlds local bank. Through the years since 2004, HSBC has gone through a lot of changes. Years since 2004, HSBC has gone a lot of changes. In 2004, the Bank of Bermuda joined the Group and minority stakes were acquired in Indias UTI Bank and Chinas Bank of Communications Ltd. In the UK, HSBC bought the retail financial services arm of the Marks and Spencer Group. In 2004, Bank of Bermuda joined the group and a minority stake in UTI Bank was acquired by India and China Bank of Communications UK Limited, HSBC group brought signs and Spencer retail financial services arm. The HSBC brand was adopted by its Mexican subsidiary, GF Bital, early in the year and in September the majority of the banks North American businesses, including Household International, were united under the name HSBC North America. HSBC North American brand business September of the majority of banks was adopted by Mexico, equipment and years GF, Bital skin, including Household International was the United Nations under the name HSBC N orth America. ROLE OF TECHNOLOGY HSBC: HSBC role of technology: Modern information technology (IT) is understood to be the result of a meeting between modern digital computing and communication technologies. Modern information technology (IT) and computing the modern digital communication technologies between the outcome of this meeting is to be understood. The significance of IT is as the core of an Information System which consists of a series of interactions between people, data, hardware and software, organizations and their social environment. The importance of this , is a foundation of information system which the social environment and their organization consisting of a series of conversations between people, data, hardware and software. Information and its connected technologies are now so vital to business success that information is regularly regarded as an independent issue of invention on a same level with capital, land and labor. Information and technology vital to business success now that information with the investors and workers, the level of invention on a routine matter as an independent count. In the twenty-first century every business manager must understand the role which information technology plays, not only in their organization but also in the wider society, within which their organization must compete. Competition, the twenty first century will be all business on their organization and understand the manager role should not information technology plays in society is widespread, organized them. A full understanding of information technology is impossible without considering its communication with the social world in which it has developed. A complete understanding of information technology has developed the world it is impossible without considering the social communication with him. Computer professionals who are ignorant of the social, political, and economic political aspect of their work are fated to be the put up of decision-makers who are. Computer professionals who work with them are ignorant, political, economic and political factor is social tolerance are lucky by which decision makers. In the real world a frequent cause of the failure of IT projects is an overlook of the human (including managerial and organizational) factors at work. No business or computing professional can, therefore, ignore the softer elements in Information Systems, which paradoxically, often prove the hardest to get right! Failure in the real world because of her projects is a continuous work in an organization), including the management of human factors and pass, any business or computing system, therefore, ignored information about business, can elements in Medium which, unlike, most of the right to prove the most difficult to achieve! THE COMPUTING ENVIRONMENT: computing environment: Linking together definitions of information and technology from the Shorter Oxford English Dictionary, information technology means the systematic study of the industrial arts relating to the communication of instructive knowledge. Adding information with praise and English Dictionary Oxford technology from small, information knowledge of technology communication education means related art industrial training conducted. This definition includes studying printing, or, for that matter, smoke signals. Included in this definition, studied printing or, for that matter, smoke signals. However the general usage today, is more like the definition employed by (1988,) the application of computers and telecommunications to the collection, processing, storage, and dissemination of voice, graphics, text, and numerical information. However, general use today, storage is much appreciated by this work (1988, applied for) of telecommunications and computer storage, processing, and dissemination of s ound,, text, graphics, and numerical information . One famous development in recent years has been the convergence of communications and computer technology, with both becoming intensive users of data embodied in binary digital form and processed by microprocessors on silicon chips. Popular in recent years on developing a silicon processed by microprocessors and chips is in binary form with digital technology, computer and communications convergence was embodied both figures to be intense users. Therefore IT is normally used in the broad modern sense to encompass both computing and telecommunications technologies. In some books, IT is used more narrowly to refer principally to computing and ICTs to refer to information and communication technologies more generally. So this is the sense commonly used in modern comprehensive coverage of both computing and telecommunications technologies. Some books, usually it is used more narrowly refer technology and communications and for basic computing and information refer to the ICTs. If we consider the industrial and commercial implications of the employment of the new information technologies then we must take on board that the computer is a general purpose machine which mechanizes human brain-powered operations just as the Industrial Revolution mechanized human and animal muscle-powered operations . If we then consider the implications of new information technology jobs industrial trade and we must take on board power operation is a general purpose computer machine machine revolution muscular man and animals mechanizes the human brain only industrial strength operation. The impact of such a broadly applicable technology is inevitably widespread and far-reaching. Broadly applicable technology and its effect on reaching such a broad and excesses, yet. Computers have become a pervasive technology applied in all sectors of life, including industry, commerce, government, education and leisure activities. Computers have become leisure activities, and education, trad e, expanded a government, technology apply to all areas of life, including industry. For businesses, information technology is only a means to an end which is the use of knowledge to make and implement commercial decisions. For business, information technology, only a means to an end which is used in the decision to apply knowledge and trade. Efficient organizations require established systems to enable them to make the best possible decisions in the situations they are likely to meet. Organizations need to establish efficient and meet the systems potential to make the best decision possible situations are worthy of them. Thus an organizational information system should collect data, analyze, and present this as useful information that can be retrieved as the basis of expert knowledge at the point of decision. Thus, an organization information system should sum data analysis, and present it as a benefit that information can then decide based on expert knowledge. Once decisions are made they must be passed on to those who implement them, carried out, and the success or failure of the operation monitored. Decisions are carried by them for what they passed on, and success or failure of the surveillance operation outside a bar. Increasingly decisions can be automatically implemented using the technology, thus enabling organizational objectives to be achieved with maximum efficiency. Increase can be determined using techniques applied automatically, thus enabling organizational objectives with maximum efficiency can be achieved. DAY TO DAY BUSINESS: Business Day Day: Achieving Competitive Advantage to gain competitive Four alternative strategies for achieving competitive advantage: doing it better, marketing it better, doing it differently and making yourself indispensable. Better marketing, better four alternative strategies to achieve competitive advantage for doing, (it, are different and need to make yourself. Doing it better. First, the customer may be brought to think that your firm is doing the same thing better in some way than others either the product or service is better than others, or it is as good as others and produced more cheaply, or perhaps it is delivered more conveniently to the consumer. To do it better than before. , Customers may take more than cheap products that your firm is better at talking about what others some way either service or product is better than others or that, is as good as others, Or maybe it was more for the convenience of users is. The obvious way to do this is to deliver a better, cheaper or more convenient product. A higher specification product (eg a more durable one) can be produced to higher quality standards (eg fewer defective goods sold), with better production methods or cheaper sources of supply than competitors can find. Clear that the way to deliver more products feature a better, or cheaper.) A durable high specification products (eg goods at a cheap multiple, for example) can be produced (sold cheaper or higher quality standards, better production methods with more than competing sources of supply can find. The same product or service can be delivered to the door of consumers on demand rather than forcing them to wait for or collect the product. the product or products and services together to force them to wait to but the door may be asked to deliver users. Thus more sales and / or greater profits can be achieved. thus more sales and / or can benefit from. Marketing it better. On a suspicious note it must be sharp out that an other is to prove to your customers that they are getting some or all of these advantages without necessarily delivering them. Note that better marketing should be a quick one out of another dilemma that required them to prove the benefits without doing it all, or that your customer. A large sales or marketing effort may, to a degree, be a alternate for lead in the actual product. In the long term, though, it is probable that consumers in most markets cannot be fooled indefinitely. A big, try a degree in marketing or sales can, in fact led to product an alternative indefinitely long. In the term, though, is a fools also possible that users can not market the most. But, in any case, it must be said that many excellent products have failed to sell because the consumers did not know about them. But, no matter, they should be said about that many users did not know that the best selling product due to failed. In many cases effective brand management of a good product or service can effectively create a demand for, say, Coca-Cola which is different from the demand for soft drinks. In many cases very effective product or service brand management for a soft drink can effectively create a demand for, say, Coca application is different from the cola. Producers can create a sort of monopoly by establishing a difference between their version of the product and other versions. Manufacturers of other products and prescription versions of the difference between them established by a kind of monopoly can be. Doing it differently. An other strategy to achieve competitive advantage is to innovate, as we touched upon under the heading of intellectual property. Different from doing so. Another strategy to achieve competitive advantage to innovate, as we are touched upon the intellectual property under. If your product really is different in kind to the competition then a substantial competitive advantage may well result. If your product is different and in fact, how much competition competitive advantage may well result. Your new product will certainly be protected from competition by a time-lag before your competitors can invest in the necessary plant or skilled personnel to produce the new product. Will your new product to compete with a lag time necessary to secure required before products can your competitors or efficient investment in new staff ready to plant. You will probably generate a marketing advantage through being first in the field including free publicity in the media and per haps identification of the product with your brand name. You may benefit by creating a marketing area is being the first including the independent media and media in the name of their products with brand identity might. Additional protection may be available under patent law, design right and copyright. Additional security can be copyrighted and available right under design patent law. Making yourself indispensable. A more delicate strategy is to attempt to engineer a situation in which your service or product is taken for granted. Must make your own. A more delicate strategy is taken for granted is to engineer products or service status for what you. The customer does not stop to make comparisons but automatically re-orders your product or service. Customer service or product comparisons do not stop automatically re-order your. An example might be book or record clubs automatically delivering the current choice of the month. For example, maybe a month book club or record supply current selection automatically. At one stage IBM were happy to accept the myth that no one ever got fired for buying IBM. Corporate clients employees were trained in IBM technology, their managers were offered upgrades on existing equipment on favourable terms, and the effort required to move out of an assumption that the next generation of equipment would also come from the Big Blue was c onsiderable. An IBM platform for buying IBM was happy to accept the analogy is true that nobody ever got fired needs. Corporate clients employees were trained to IBM technology, according to upgrade their existing equipment manager had been offered terms, and was enough Blue moved to think that a big next generation equipment is coming too. SOCIAL ASPECT: social aspects: HSBC is being affected by the situation of the society in which they are operating. Along with this, HSBC tries harder to make sure that each society is given equal chances to take advantage of the resources given by the organisation. Work that is being affected social situation, with the HSBC HSBC tries hard to ensure that the organization provide to take advantage of every resource for society is given equal chances. The company hold fast to having good reputation and relations in the society that they belong. They hold fast to the companys good reputation and relationship that society. As you approach retirement you have hopefully created a retirement plan sufficient to maintain your lifestyle. Alternatively, you might look to start easing your way into retirement by working part time. As you near retirement, your life you hope to maintain adequate to create a retirement plan. Alternatively, you from working part time retirement easy way to start your can see. Your pension will pr obably be your main priority. Its important to think about whether it will be enough to provide income for a comfortable retirement at your desired retirement age. Your pension retirement age is perhaps his main desire. You prefer for a comfortable retirement, provided that income will be important enough to think about it. TECHNOLOGICAL ASPECT: Technical aspects: The appearance of information technology and internet affects how HSBC has been operating in the past years. Information Technology appearance and how the Internet affects HSBC has been operating in the past year. The company adopts different IT / IS systems and used internet to reach their customer all over the world and to know the latest trends in the global business. Different control company T / systems and Internet access in the world to reach their customers and businesses worldwide know the latest trends. Aside from these, the company also uses facilities which helps them improved their productions and operations.

Allegorizations of the Active and Contemplative Lives in Philo, Origen,

Allegorizations of the Active and Contemplative Lives in Philo, Origen, Augustine, and Gregory This paper examines the allegorical interpretations given to several Scriptural pairs as they relate to the idea of the active and contemplative lives in Philo, Origen, Augustine, and Gregory. As will be shown, Augustine combines elements found in the two previous writers to form his allegory of the two wives of Jacob as representative of the active and contemplative lives. In Philo, most of the essential elements of later Christian thought on the active and contemplative lives are already present. The superiority of the contemplative life is given at the beginning of his treatise on it: "I have discussed the Essenes, who persistently pursued the active life and excelled in all or, to put it more moderately, in most of its departments. I will now proceed at once in accordance with the sequence required by the subject to say what is needed about those who embraced the life of contemplation" (De Vita Cont. 1 [471]). The idea that the contemplative life follows upon the active is also present here, and is elaborated elsewhere: "... infants have one place and full grown men another. The one is named ascetic training and the other is called wisdom... For what life is better than a contemplative life, or more appropriate to a rational being?" (De Migr. Abr. 9 [443]). Both the active and contemplative lives are virtuous, but the contemplative is the more matur e and fuller expression of the life of wisdom; it should, however, only be practiced once the former has been used as a training ground. Philo allegorizes Leah and Rachel in several related ways in his works (cf. Sly, 163-74). At one point he identifies Rachel with bodily beauty, ... ... moves away. She loves to contemplate her lovely eyes; I love to use my hands to adorn myself: her joy is in reflection, mine in act." (Purgatorio xxvii, 101-08, [Musa trans.]) What has been called "the breadth of [Augustine's] vision and the lyrical exaltation of his language" (Mason, 45) has cast a long shadow indeed. Works Cited * Butler, D. C. Western Mysticism: The Teaching of Augustine, Gregory and Bernard on Contemplation and the Contemplative Life. 2nd ed. New York: Harper & Row, 1966. * Mason, M. E. Active Life and Contemplative Life: A Study of the Concepts from Plato to the Present. Milwaukee: Marquette University Press, 1961. * Runia, D. T. Philo in Early Christian Literature: A Survey. Assen: Van Gorcum/Minneapolis: Fortress Press, 1993. * Sly, D. Philo's Perception of Women. Atlanta: Scholars Press, 1990.

Positive and Negative Reinforcements

Positive and Negative Reinforcement Positive Reinforcement Positive and Negative Reinforcement What are Positive Reinforcement and Negative Reinforcemens? Positive and negative reinforcement are used in most of the three theories. Negative reinforcement is used in behaviorism, where it involves the removal of an unpleasant stimulus when a desired behavior occurs. Positive Reinforcement is a technique used to increase desired behavior and is used in operant conditioning.Positive reinforcement is offering of desirable effects or consequences for a behavior with the intention of increasing desired behavior. Positive and Negative reinforcement are used or used in the theories of learning whether it is innate or learned behavior (King 2010). Positive Reinforcement and Skinners experiment Skinner experimented using positive reinforcement, with a rat and came to the conclusion that with a stimulus or positive reinforcement a rat can learn to receive food by pressing a bar. With Skinners exp eriments with the rat he discovered law of effect.Skinners approach to operant conditioning involved the â€Å"Law of Effect† stating that behavior followed by positive outcomes is strengthened and that behaviors followed by negative outcomes are weakened. This means that positive outcomes for behaviors are strengthening to an individual and negative outcomes weaken the behavior of the individual, therefore receiving a positive reinforcement or reward will increase the likelihood of the behavior occurring (King, 2010). Shaping Shaping is one of the first steps of operant conditioning, which is rewarding approximations of a desired behavior.An example the book gives is a rat can be shaped or trained to press a bar to eat. It is not likely for the rat to receive food when being placed in the â€Å"Skinner box†. The experimenter began to give the rat food pellets when the rat is close to the bar. The rat begins to gain the reward and continues to press the bar, which is P ositive reinforcement. Later the experimenter only rewards the rat with a pellet when rat is 2inches from the bar. After rewarding for being within 2inches the rat will have to touch the bar for reward, leading to the rat, pressing he bar and receiving food. When the rat presses bar that’s where reinforcement comes in, which is the process by which a rewarding stimulus or event following a particular behavior increases the probability that the behavior will happen again, the rat now sees that if it presses the bar it receives food, therefore the rat continues to press the bar to receive food. The behavior continues to happen due to the stimulus of food, which is reinforcement (King, 2010). Positive and Negative Reinforcement There is positive and negative reinforcement within operant conditioning.Positive reinforcement is getting a positive result from the stimulus; in turn a negative reinforcement is a behavior of doing something due to a negative stimulus. There are two typ es of reinforcement primary and secondary reinforcement. Primary reinforcement is innate which is not learned or conditioned Secondary reinforcement (King, 2010). Generalization, Discrimination, and Extinction The next 3 key concept of classical conditioning is generalization, discrimination, and extinction. First is generalization which is performing a positive reinforced behavior in a different situation.An example of generalization is having three classes and deciding to study for one of the classes every night. Eventually an individual will begin to study every night in all three of their classes. The second discrimination is responding appropriately to stimuli that signal that a behavior will or will not be reinforced. The book gives an example of a restaurant that gives student discounts if the student shows there student identification card and how if someone who is not a student shows their identification card might get a puzzled look.The last is extinction, which is a decre ase in the frequency of a behavior when the behavior is no longer reinforced. Extinction is without the same stimuli and the reinforcement ceases to exist (King, 2010). Schedules of Positive and Negative Reinforcement The patterns that determine when a behavior will be reinforced positively or negatively are schedules of reinforcement, which can be negative and positive reinforcement. The four different types of schedules are; variable interval, fixed interval, variable ratio, and fixed ratio. Variable-interval is a timetable where behavior is reinforced after a certain amount of time has went by.A fixed interval applies to procrastination which is when the first behavior is reinforced after a fixed amount of time has passed. An example of fixed interval is a kindergartener that does not get a bad check mark all week receives candy at the end of the week. A fixed ratio reinforces a behavior after a set number of behaviors. Fixed ratio can be applied to the lottery, because you never know when you will win. The last is variable ratio that is when behaviors are rewarded an average number of times but on an unpredictable basis (King, 2010). Punishment Punishment is a consequence that decreases the likelihood that a behavior will occur.Operant Conditioning consists of two types of punishment positive and negative. Positive punishment is presentation of an unpleasant stimulus following a given behavior in order to decrease the frequency of that behavior. Yelling at your child until they clean their room would be an example of positive punishment, because if they clean their room the yelling will stop. Negative punishment is the opposite the removal of a positive stimulus following a given behavior in order to decrease the frequency of that behavior. Negative reinforcement can be telling your child if you don’t clean your room I will be taking your phone away.You will be removing the cell phone if they don’t clean their room, therefore it is more likel y for that child to clean their room. Both positive and negative reinforcement are used in punishment (King, 2010). Positive, Negative Reinforcement, and Timing Whether positive reinforcement or negative reinforcement timing is an important aspect in reinforcement and punishment. Immediate reinforcement is better than delayed reinforcement because delayed reinforcement means that an individual has to wait for their reward (reinforcement) and for young children that can be hard to comprehend.Immediate punishment is more effective with young children because if you delay their punishment the child is more likely to act that behavior again. The last type is immediate with delayed reinforcement and punishment. The book Experience Psychology gives an example of the three; â€Å"an individual putting off going to the dentist to avoid a punisher, such as pain, but waiting could contribute to greater pain later. Applied behavior analysis is applying operant conditioning to change human beh avior. This analysis looks for rewards that are creating bad behavior and enhances rewards to gain good behavior. King, 2010). † Three Theories Together Behaviorism, operant conditioning, and classical conditioning are different theories on how individuals learn and use positive or negative reinforcement. Behaviorism focuses on observable behavior solely, uses negative reinforcement and that is what makes it different from the other theories. Classical conditioning has two stimuli; (King, 2010) an example of classical conditioning is a child smelling a beautiful flower and is stung by a bee within the flower.Classical conditioning uses negative reinforcement, because it teaches the child that that flower caused the pain and they are more likely not to touch the flower again. The child associates the pain with the flower and is now fearful of the flower. Each theory has good and bad points, but my thought is behavior is learned with rewards, therefore human behavior is better w ith some sort of reward such as positive or negative (reinforcement) (King, 2010). Conclusion Positive and Negative Reinforcement Positive and negative reinforcement are used in behaviorism, classical conditioning, and operant conditioning.Many believe one works better than the other, but it depends on the situation whether negative or positive reinforcement will be used. I believe that Positive reinforcement is the best, because getting a reward makes an individual more likely to increase the desired behavior. Negative reinforcement to me can be stressful to an individual, because if they don’t do what they are supposed to do something could be taken from them (King, 2010). References King, L. (2010) Experience psychology: McGraw-Hill, Avenue of Americas. New York, NY 10020. (p. 167-177).

Finance - 3312 Words

Impact of Inventory management on the profitability of Square Pharmaceuticals Ltd. 1. Introduction: Inventory is one of the factors that can control to improve business profitability. The way source and manage inventory can impact the different profit levels of income statement. Ignorance of how to use inventory advantage prevents you from maximizing operational efficiency. 2.1. Overview of the Company: SQUARE today is a name not only known in the Pharmaceutical world, it is today a synonym of quality- be it consumer product, toiletries, health products, textiles, agro vet products, information technology and few more. All these were possible due to his innovative ideas, tireless efforts, perseverance and dedication with†¦show more content†¦b. Economic Order Quantity (EOQ) Model: Economic order Quantity model refers the inventory management system which helps to determine the optimum order quantity which minimizes its order and carrying cost. Here we show how much quantity they should buy to minimize their cost. 3. Literature Review: Inventory management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. This process usually involves controlling the transfer in of units in order to prevent the inventory from becoming too high, or dwindling to levels that could put the operation of the company into jeopardy. Competent inventory management also seeks to control the costs associated with the inventory, both from the perspective of the total value of the goods included and the tax burden generated by the cumulative value of the inventory. The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost. Since for many companies inventory is the largest item in the current assets category, inventory problems can and do contribute to losses or even business failures. It is also called inventory control. http://www.businessdictionary.com/definition/inventory-management.html#ixzz2yCVn8Kmh http://www.barcodesinc.com/articles/what-is-inventory-management.htm 4. Current Scenario: 5.6. Managers View: According to the managers view,Show MoreRelatedFinance1352 Words   |  6 Pagesfinancial manager differ from the traditional financial manager? Does the modern financial managers role differ for the large diversified firm and the small to medium size firm? 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