Critical Thinking and Society Exercise - 1121 Words

| | |Critical Thinking and Society Exercise | | | | | †¢ Describe a situation in which critical and creative thought could have been used for a better outcome. Describe why it is important to think critically and creatively in similar situations. A good situation that I think critical thinking could have been used for a†¦show more content†¦The best way to avoid this would be actually thinking about a situation and acting on your own thoughts based on your own critical thinking based on facts or your knowledge. Another type of hindrance to the critical thinking process would be Assumption. This method would be assuming information about a situation or even prejudging without actually thinking about all possibilities before making your decision. The best way to avoid this hindrance would be to not prejudge anything and use your knowledge and critical thinking to base your final decision. The third type of hindrance to the critical thinking process would be Subjectivism. This would be trying to subject someone to your point of view that you might consider the truth. In the critical thinking process everyone does not have to conform to your views or beliefs and we cannot subject others to your point of view. Y our point of view might not be truth to others based on their opinions and experiences. My own personal experience with hindrances would be everyday when we have our Youth League Board meetings. My opinions differ from others based on my experiences and I definitely think things through before responding. I am the Fund Raising Coordinator and I have brought an improvement to our league based on my prior experiences and knowledge. At first nobody wanted to listen to my ideas but, after dropping a large sum of money into our league account from fundraising they decided toShow MoreRelatedPhl 458 Week 1 Individual Assignment Critical Thinking and Society Exercise848 Words   |  4 PagesCritical Thinking and Society Exercise PHL/458 University of Phoenix Describe a situation in which critical and creative thought could have been used for a better outcome. Describe why it is important to think critically and creatively in similar situations. A situation, in which critical and creative thought could have been used for a better outcome, is when investors were making decisions about the purchase of real estate. In 2006Read MoreThe Implementation Of The 21st Century Essay1498 Words   |  6 Pagesskills requires the development of the core academic subject its knowledge and understanding among all students. In the K-12 curriculum the development of scientifically, technologically, and environmentally literate and productive members of society who are critical problem solvers, responsible stewards of nature, innovative and creative citizens, informed decision makers and effective communicators is the Science curriculum goal. To carry out this goal, the teaching of science has to be done using inquiryRead MoreFord Was An Unethical Leader.He Allowed Himself To Fall1125 Words   |  5 Pagespurpose of mission accomplishment as well as failing to embrace the critical thinking trait of open-mindedness. Henry Ford was critical of anybody’s viewpoints that went against his own. Ford was proud of the Model T, but he did not want to change it, and this failing resulted in Ford taking a back seat to his competitors and suffering a declining market share. â€Å"Being open-minded means you’re ‘open’ to actively listening and thinking about an idea or solution (BCEE, 2017d, p. 4). Ford often stifledRead MorePrimary Roles Of A Grade 7 And 8 Teacher1519 Words   |  7 PagesIntroduction â€Å"The words we hear and use in our everyday lives affect our way of thinking and, ultimately, our actions† (Brooks and Brooks, 1999). The seeds of racism, sexism and oppression, I believe are planted at an early age of childhood. The parents of grade 7 and 8 students, of an elite private school of a higher social economic status, presented an objection to their children learning about social inequalities. Parents of the students feel their adolescent children are not ready to tackle theseRead MoreThe Statement Of Teaching Philosophy1240 Words   |  5 Pagesapproach to learning and thinking about real-world issues, I strive to develop students’ potential so that they might be better students, employees, and citizens. My teaching philosophy is strongly influenced by my professional and educational background, which has been focused on the effects of media and technology on young children, and the role that technology can play as a tool for empowering families and educators. Media’s impact on children has broad implications for society. It affects childrenRead MoreCritical Thinking As A Critical Thinker947 Words   |  4 PagesAs humane beans we speak about critical thinking as a person who thinks thing out very clear, with purpose and multifaceted ideas. This is somewhat true. Yes, that does help to begin and mend a critical thinker but critical thinking also includes a combination of skills. Those main characteristics are self-awareness, honesty, open-mindedness discipline, and judgment. Using these characteristics daily and with practice develops an amazing critical thinker. That person can live life solving hard problemsRead MorePHL 458 Complete Class Week 1 - 5 – All Assignments , Presentations, DQs – A+ Graded Course Material1177 Words   |  5 Pages-amaterial/ Week 1 Individual Critical Thinking and Society Exercise Write 150- to 200 words on each of the following topics: †¢ Describe a situation in which critical and creative thought could have been used for a better outcome. Describe why it is important to think critically and creatively in similar situations. †¢ Define free will, truth, knowledge, and opinion. Explain how we use them to form thoughts. †¢ Identify three hindrances to the critical thinking process. Determine methods for overcomingRead MoreAchieving Academic Excellence : The University Of Phoenix Foundation For Success Curriculum1543 Words   |  7 Pagesof knowledge for my continued journey throughout my instructional and professional venture. Achieving academic excellence involves activities that require a person to set educational and career goals, practice practical ethical decisions and critical thinking skills. Utilizing the available resources around, and adheres to the writing process will able the student to acknowledge the benefits and challenges of the outside source. Setting Goals Setting goals can be challenging to say the least if aRead MoreLeadership And Leadership Styles Than I Learned1645 Words   |  7 Pagesthe PA390 leadership assessment questionnaires and exercises with my team at work, their feedback and responses have helped me provide some insight and learn more about my leadership values and style. These exercises and further reflection helped me see the connections to my situational leadership style at times also. It’s always enlightening to learn how others see you vs. our own perception of ourselves. Using the questionnaires and exercises with my team at work has helped me identify some leadershipRead MoreBodybuilding Subculture : The Bodybuilding Culture927 Words   |  4 Pagessport (EDinformatics). 3. What is the group’s relationship to the larger society? The group is easily identifiable in larger society. The very nature of bodybuilding is to stand out from everyone else (Sinicki). That being said, bodybuilders are generally accepted in society, aside from a few strange looks and comments; unless steroids or other banned drugs are used (which increase aggression) they fit peacefully into society (Sinicki). 4. Give a brief history of the group. The first start of bodybuilding

The Too Big to Fail Problem - Free Essay Example

Sample details Pages: 7 Words: 2152 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Too big to fail was a very regular term we all heard during the Great Recession of 2008, but did we truly understand the term? To understand this overused term, we must first define what it means to be a firm that is Too Big to Fail. According to Stern and Fieldman, too big to fail'(TBTF), a term describes the receipt of discretionary government support by a banks uninsured creditors who are not automatically entitled to government support. (8). Citi Group is an example of this term that easily comes to mind; the government never considered that a firm as large as them would ever be on the verge of collapse. It was only after their announcement to the US government in August of 2008 stating their bankruptcy, the government took action guaranteed this mega-firm that they would pay off their bad investments. But why would our very own government consider such action? A reasonable answer would be that the government considered the perceived dangers of letting a bank of this size collapse and the repercussions that the economy would experience if they allowed this to happen. The main concern is, how did government regulations become so lax? Why do they allow a bank to become so large and overleveraged, that if they were to fail, it would resonate throughout the global economy. What can the government do to solve this problem at hand? To understand how we fell into the Great Recession, we have understand how these firms were able to get so oversized. In 1932 Congress passed the Glass-Steagall Act; which banned commercial banks from underwriting securities. Banks were forced to choose between being commercial banks, that held deposits and made loans, and investment banks that conducted securities transactions(Crawford,128). However in November of 1999,a new regulation, supported by the banking industry, called the Gramn-Leach-Bliley Act repealed the Glass-Steagall Act.   What made Congress go back into regulations and repeal the act? In the boom of the 90s, the feeling of financial sector was that the Glass-Steagall Act hampered Americas financial companies from being competitive globally.   An ambitious CEO, Sandy Weill of Travelers Group(one of the largest insurance companies), had a dream in which his corporation would merge with Salomon Smith Barney(one of the largest investment banks at the time) and Citicorp(the largest commercial bank) to form a super conglomerate. However, at the time, this deal was illegal because the Glass-Steagal Act was still in effect. The size of Citicorp and Travelers were so big that they were able to go to Congress and demand action, and Congress folded. Weill was able to convince Alan Greenspan(Chairmen of the Federal Reserve), Paul Rubin(Secretary of Treasury), and   President Clinton to allow the merger with the expectation that Congress would repeal the Glass-Steagall Act. Citicorp and Travelers had their lobbyist push their merger so hard that the legislation, H R10, House Resolution 10, which became the Financial Services Modernization Act, was referred to as the Citi-Travelers Act on Capitol Hill(Bill Clinton). Not only was this act passed with a dominate 90-8 vote in the Senate, but also an overwhelming 362-57 vote in the House. This repeal would serve as the key corner stone that allowed bank to perform mergers of this nature, and allow them to get so oversized.   Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   After the repeal of the Glass-Steagall Act these new conglomerate became so large and interconnected that once the Great Recession started, the failure of one bank would mean the failure of the entire financial system. American International Group(AIG), an insurance company, is a example of this. With the repeal of the Glass-Steagall Act, AIG suddenly transformed into a company with General insurance, Life insurance retirement services, Fina ncial Services, and Asset Management (Sjostrom 946). AIG was able to use premiums paid for life insurance to leverage creation of credit default swaps; A CDS is a privately negotiated contract where one party( the protection seller),in exchange for a fee, agrees to compensate another party(The protection buyer) if a specified credit event(Such as bankruptcy or failure to pay) occurs with respect to a company( the reference entity) or debt obligation(the reference obligation). CDS are used for a variety of purposes including hedging, speculation , and arbitrage (Sjostrom 948). For example, if a company like Goldman Sachs wants to hedge on mortgage defaults; they would go to AIG, and enter into a credit default swap with them. They would then pay AIG a fee upfront, and if the mortgage was to default, AIG would agree to pay the defaulted value thus limiting the risk to Goldman Sachs. Problem is rather than AIG setting aside the value, they would need to pay Goldman Sachs if the mortgag e was to default. AIG would instead use the fee they received for the credit default swap to leverage the fee into creating more credit default swaps. Goldman Sachs, viewing that they had protection on their mortgages, would go out and buy more mortgages using future interest and principles payments on those mortgages. However, once the crisis occurred, foreclosures went through the roof. AIG faced a mountain of credit default swaps that they had to pay out to. Since they were so overleveraged they didnt have enough cash on hand to pay out all the credit default swaps. If AIG defaulted, Goldman Sachs would then not receive the money they were expecting from the credit default swaps, and would also not be receive the monthly payment on the mortgage thus creating a short-fall for them as well, since mortgage were usually re-packaged and resold. An AIG default would have not only affected companies in the U.S, it would have also caused a catastrophic ripple throughout the global bankin g sector. However, AIG was deemed too big to fail and the U.S government stepped in to pay all of AIGs credit default swaps thus preventing wide spread chaos. As the chaos subsided, various economists have presented solutions to the Too Big to Fail problem, including ending securitization, lowering leverage level, enforcing more transparency, create morally defensible incentives, and breaking up companies deemed too big to fail. By ending securitization, we would face higher interest rates for borrowers but, as Cohan states If financial engineers can find a way to bundle loans into securities that are guaranteed not to lose money for investors, then securitization should continue (Cohan). However this is a pipe dream and facing the possibilities of another global recession or higher interest rates the later, should be preferred. If we enforce lower leverage levels on all actors in the financial system including banks, hedge funds, insurance companies, businesses and households t o set clear targets for maximum leverage and to ensure that none of them is able to exceed those targets. (Cohan) This will bring balance not only to Wall Street, but also to America. For far too long Americans have lived beyond their means and the growth of credit card debt is a clear example of this. If all leverage were to be scaled back the environment for future growth rather than present day payoff would be much brighter. Transparency in the financial market is also very lacking as witnessed by the Bernie Madoff scandal; in which Madoff scammed his investors out of 65 billion dollars. Wall Street firms are still not held to a high enough level of transparency to provide consumers with a true picture of a firms strength. Another big problem is how bankers are compensated for their work. Their bonuses are tied to the size and amount of deals they perform in the year and it would serve no purpose to them to be cautious in making deals. A clear solution to this is one suggested by Cohan, rather than bankers receiving all bonuses that year they put all the money into an escrow account, and wait five years, if the investment were still valuable, the banker would receive the money out of escrow, otherwise, the escrow would pay the losses that the investor incurred from the bad deal. This kind of structure could reduce the moral hazard in the current incentive system. (Cohan) This would provide bankers the incentive to perform deals that are more likely to make money for investors rather than for their own selfish purpose. Finally, the one solution that might make the most sense to the average consumer, would be to just break up companies deemed too big to fail by the government. Cohan believes that there should be a limit on how big a bank could get, we shouldnt be rewarding managers for building big companies that cant earn profits that exceed their cost of capital. And we should not require taxpayers to pay for the cost of such failures. Although all five of these steps would be necessary to prevent systemic risk it will still, also require the diligence and regulation from the federal government to avert a financial crisis weve had. The United States Government has listened to the economists and the first of the financial reform regulations had finally been passed on June 29th , 2010 . The passing of Dodd-Frank Wall Street Reform and Consumer Protection Act incorporated many of the solution that have been mentioned above. To deal with the issues of lowering leverage levels and enforcing better transparency, the Dodd-Frank Act created a Financial Stability Oversight Council in which its made up of expert members of the financial community, headed by the Treasury Secretary and includes the Chairmen of the Federal Reserve and other government financial agencies. What this new council will do is make recommendations to the Federal Reserve for increasingly strict rules for capital, leverage, liquidity, risk management, and other requi rement as companies grow in size and complexity, with significant requirement on companies that pose risks to the financial system (US Senate). This council will make changes to regulations depending on the size and complexity of the bank and prevent too big to fail banks from getting over leveraged and investing in questionable investments. This council will also solve the issue of breaking up a bank if its deemed too large or complex, they are able to approve, with a 2/3 vote and vote of the chair, a Federal Reserve decision to require a large, complex company, to divest some of its holdings if it poses a grave threat to the financial stability of the United States- but only as a last resort. (US Senate) This gives the power to this council to essentially force a bank deemed too large, to sell some of its assets to be reduced to a more manageable size. The act also brings back some of the components of the Glass-Steagall Act in the form of the Volcker Rule, which requires regulato rs implement regulation for banks, their affiliates and holding companies, to prohibit proprietary trading, investments in and sponsorship of hedge funds and private equity funds, and to limit relationships with hedge funds, and private equity funds (US Senate). By separating savings and loan banks from proprietary trading and other risky investments, this will significantly lower the risk a bank will be willing to take. Bank used to be faced with the decision to either make very modest returns on mortgages and loans or high returns from hedge funds and proprietary trading and faced with that decision greed over takes all reasoning. On the last point of incentives, large banks have realized that the public now views incentive based bonuses very negatively, instead they are moving away from giving record bonuses every year, and instead started to double or triple salary in some cases. In the past, banks have preferred to keep salaries low and use bonuses as a way to drive performa nce. Now instead investment banks such as Credit Suisse, UBS and Morgan Stanley have also added so-called clawback provisions to bankers pay, allowing the banks to take back some pay from employees who fail to meet certain performance goals. (Werdigier) Rather than having set performance based incentives, these more flat salary increase might allow the bankers a bit of a wiggle room to make deals that are more financial sound. This Dodd-Franks act is a step in the right direction, but there is still much to do in order to prevent this from happening again. Vigilance and patience is what we need now, to rebuild and recuperate from this fiasco. There is no point in going back to the age of the Glass-Steagall Act since the complexity and size of global financial organization have grown. All the act would do now is hamper U.S firms. With these new government regulation and with good self-regulation, financial firms from this point forward should be able to maintain a leverage level where a failure of one firm, wouldnt cause a systemic collapse of the entire sector. However, greed is everlasting, and only through persistence can we prevent the financial firms from getting so close to the edge of collapse again. Don’t waste time! Our writers will create an original "The Too Big to Fail Problem" essay for you Create order

Aviation Professionals Example

Essays on Aviation Professionals Article Raising The Next Generation Of Aviation Professionals Summary Affiliation: The Aviation Accreditation Board International (AABI) is an international body that reviews the curriculum as well as aviation professionals’ performance. It is meant to establish the content that should be used by aviation studies institutes in order to provide very highly trained aviation professionals. The aim of this article on AABI is to promote the next generation of aviation professionals on an international level.The website is very beneficial to aviation professionals because it helps equip them with the necessary ethics and responsibility that their career requires them to have. This is enhanced through a revised curriculum ranging from college mathematics, applied sciences, flight control, environment aspects, electronics and management principles. A combination of the named subjects is very important to aviation professionals because a proper understanding promotes outstanding ethics and key responsibilities to them. Thus, without doubt, the website has what it takes to provide knowledge and fulfill its objective on the next generation of aviation professionals.It has also stipulated the fact that for the next generation of professionals, they have to confer the requisite skills, knowledge and judgment so as to enhance graduates professional performance in the aviation industry. For one to depict proper ethics and responsibility, it is very vital to fully understand what the aviation system and industry require from a graduate. Therefore, the website has clearly identified the major principles of providing very qualified professionals. Above all, ethics and responsibility are promoted by integrity and credibility which are among the AABI goals.In conclusion, the website is focused on providing the next generation of aviation professionals who are determined to excel in their career path. It is also focused on providing graduates with the knowledge and training required to be responsible in the aviation systems as well as ethics required to prosper in the said profession. Therefore, I would recommend this website and I would probably relate it not only to the curriculum provided, but to the ethics and responsibilities of aviation professionals.Reference AABI. (2014). [online] Retrieved from: http://legacy.icao.int/NGAP/Presentations/Raising%20the%20Standards%20for%20the%20Next%20Generation%20of%20Aviation%20Professionals.pdf [Accessed: 30 Mar 2014].

Analysis Of The Story Cuba - 1217 Words

The story of Cuba is a very interesting one. Most are familiar with it as a small island in the Caribbean. Those who have not been completely negligent over the last half a century have probably also heard the names Fidel Castro and Ernesto â€Å"Che† Guevara. These two men were very pivotal players in the history of Cuba and its revolution. Literary and cinematic reenactments are a great method for providing historical knowledge. However, they can be heavily biased and much of the factual evidence can be â€Å"silenced† throughout the films and novels. Cuba has always been a region of great interest due to its location in the Caribbean Sea. The nation resisted capitalism for over forty-five years and aside from North Korea, is the last to be†¦show more content†¦The issue in previous years was that the economy was placed low on the list of priorities. However, in the late ‘60s we see that steadying the economy became their main focus. Attempts at economi c diversification through industrializing the nation were made at the expense of the agricultural industry. This new push towards technology and modern machinery was consuming nearly a quarter of the national income. The government was caught between a rock and a hard place. It needed the sugar income to pay for expansion, but it had ignored agriculture which was their way to fund. Failure to put emphasis on agriculture led to the decline of sugar harvest in which their output dropped nearly in half over a couple years. Government at the time consisted of a small amount of state officials and administrators which held a monopoly over all major decisions affecting societal and economic issues. The bulk of the population had no voice in the decision-making process. Nor could they remove the officials from their positions. Fidel Castro, among other bureaucrats used the Communist Party to pursue their economic agendas. Anyone questioning their priorities was accused of being anti-revolu tionary. Cuba turned to the Soviet Union for their economic and political ideals. Socialism had failed to develop an economy capable of sustaining Cuba. There were problems with the Soviets, whom the Cubans did not always get along with. In 1968, nearly forty members of the Communist Party

Hobby And Sport Essay Example For Students

Hobby And Sport Essay My main consumption of time these days, is unfortunately notused on homework, but on computers. Trendy words like Internetand The Superinformation Highway are both terms which seemessential in my everyday. When I though disconnect fromcyberspace, and my computer and I are all alone, programming iswhat I deal with. I make small programs, and since practice makesperfect, thats where Im heading. QBasic is an updated version of the worlds first programminglanguage, Basic. With Basic you are, compared to other languages,quite limited, but good results can still be obtained, even as abeginner. I first started to program after one winter vacation, wheremy cousin can to visit. He knew a bit of how to program, andtaught me everything he knew. I immediately became an addict tothe new world of errorlevels, internal and external commands etc. Or a program which asks you how old you are, and how many cigarettes you smoke everyday. Then it tells you if you smoke too much. These programs are not useful because they dont satisfy any of the two demands: 1) It doesnt fulfill any of my needs. 2)Its not suitable for a wider audience. Today, the list of programs I have made, satisfy in a much more professional way those simple requirements. I have made, in cooperation with a friend, a game which tests your short-term memory. There must be a thousand of those on the market today, but RecoN has a very nice graphical interface, and online help. We released the game as shareware. This means that anyone can have a copy without paying for it, but if they after 30 days chose to keep it on their computer, they must send X amount of money to a specified address. Naturally we still havent gotten any donations, but at least we know for sure, that the game has been copied to well over 250 persons, so it has satisfied some demands. So how can programming benefit me in a more practical way? Well, I made one program, which works like an alarm-clock. Its simple, but it works. The knowledge I gathered from making that program, and all the knowledge from all the other programs, will of cause be essential, if I chose to become a programmer after IB. There I will need all the experience, I can get. .

Business Operations of Oz Supermarket

Question: Discuss about the Business Operations of Oz Supermarket. Answer: Introduction The major aim of this report is to portray few recommending strategies for Oz Supermarket, which is a newly developed retail chain aims to provide the best services to its customers on a regular basis. Oz Supermarket has to be concerned about provide improved services as well as products so that they can build huge customer base for this organization along with generating good revenue. Thus, this report conveys three major recommendations in this regard along with providing an outline or the description of the business operations followed by this retail chain. Oz Supermarket is the newly formed retail chain, which has been mainly set up at the check up points for reducing the exit queues. Moreover, it encourages customers for coming in, grabbing what they desire to buy and then leaving the store. This retail organization has embarked few significant business operations. First of all, this organization only stocks non-perishable, stationery and household goods. On the other hand, this organization has entirely adopted the PayWave technology and it does not accept cash. Thus, the customers generally bag their items as they shop. The customers exists merely the shop while shopping has been completed. Therefore, the total amount is charged automatically to the card utilized as the customer walks out of the store. Apart from that, the without a PayWave card, customers can approach the front desk for putting a temporary cash deposit Recommending Strategies for Oz Supermarket After discussing the entire business operations of Oz supermarket, it can be seen that there are few certain areas within the business activities of the retail chain where recommending strategies should be implemented thoroughly. These are as follows: Increase in stock Variety According to the stock of this retail, this organizations only stocks the non-perishable, stationery as well as household goods. However, this limiting cost can limit the way of earning revenues for the retail organization. Therefore, this organization should enhance its stock variety as well as the number of items within the individual stocks (Tian Schwartz, 2015). Nevertheless, in this regard, this retail chain should incorporate those products into its stock, whose market demand is high. This retail organization should focus on those facts because, Oz Supermarket is completely a new retail enterprise and it is aiming to build its reputation as a retail farm as well as generate good revenue at the end (Ciravegna Brenes, 2016). Therefore, in this regard, this organization should also stock other kinds of goods which have huge demand in market such as clothes, fashion products, accessories, technical equipments, books and other products (Jia et al., 2015) . Moreover, the enhancement in the stock of this retail organization would ultimately result in increasing the customer base for this retail chain which is the ultimate goal of this company as a newly developed retail chain. Managing the Security concerns for the store and customers and reducing extra overheads Oz Supermarket should be properly take care about the security issues those can be the vital concerns for this retail organization as well as the potential customers of this retail chain. Thus, in this regard, this retail enterprise should focus managing both the security factors for the retail store and the customers of the company as well (Tolstoy, Jonsson Sharma, 2016). In case of managing the store security, it can help in avoiding the shrinkage of the inventory. Moreover, it depends on the location, products and the size of the store. Therefore, this retail chain can attach the electronic tags on its products those are sensed at the entrance of the store and exits by the sensors for the detection of theft (Kohlbacher, 2014). Moreover, this retail supermarket must have to focus more on resolving the security issues associated with the PayWave technology (da Veiga et al., 2016). It has been s een that this technology has few consequences along with its advantages. PIN code is not requested in case of the contactless transactions through PayWave technology. Thus the means of protection in this case have to face a boundary to the encryption keys formed by a terminal as well as a card (Muslimah Simatupang, 2014). In this regard, the custom terminal of the retail chain should employ the encryption keys obtained from an acquiring bank as well as a payment system. Therefore, this retail must be focused on this matter in order to enhance the security assurance for the customers of Oz supermarket as this organization is a newly developed retail chain (Prasad, 2016). However, by being focused on this fact would ultimately help the retail to overcome the few issues with the PayWave cards, which can satisfy its customers regarding their security concerns while shopping in Oz Supermarket (Dean, Fath Chen, 2014). On the other hand, this organization should not tag every item with t he RFID chip as it causes the additional overheads. Most importantly, the store absorbs this cost in the customer interests who are in rush. Therefore, Oz Supermarket should tag those items with this chip which are the most valuable and demanding products for the customers. Addressing Data Flooding Every successful reading of the tag attached with the retail items is not useful for the business purposes (Dean, Fath Chen, 2014). The huge amount of data can be evolved, which is not ultimately useful in order to manage inventory or other applications. For an instance, a consumer moving a product from one shelf to another shelf or a pallet load of articles, which passes many readers while being moved in a warehouse, are the events those do not produce data, which is meaningful to an inventory control system. Therefore, in this regard, event filtering is necessary for reducing data inflow to a meaningful depiction to move goods passing a threshold (Song Kang, 2014). Therefore, middleware should be performed while filtering from the redundant and noisy raw data to the significant processed data (Tolstoy, Jonsson Sharma, 2016). Moreover, Oz Supermarket should also utilize a RFID tag for addressing international trade concerns, which is operational within a ll of the international frequency domains. From the entire discussion made in this report, it can be stated that in spite of being a newly formed retail company, Oz Supermarket can be capable of provide worthy and proper retail services to its customers because of the implementation of advanced technologies like PayWave technology. However, this report has highlighted and demonstrated three recommendations those should be incorporated or followed while conducting its retail business operations in future. These recommending strategies would simply help this organization for creating a huge customer base and significant customer satisfaction. Suggestions to Improve Customer Service Customer Service is always about providing the customers what they want, while they want, in the best possible manner (Sharma Lambert, 2013). An organization would have a greater scope of increasing and keeping its customer base, if this business provides good customer service. Thus, from the given scenario, it can be seen that Oz supermarket has implemented the PayWave technology, PayWave card system which are one of the safest payment system for the customers. Moreover, this organization also has allowed the shopping summary stations those placed strategically throughout the stores permitting customers for viewing in detailed list of items that is in their trolley. All of these factors can significantly play huge role in providing a good customer service to its customers (Aryee et al., 2015). However, this retail chain should consider few suggestion regarding improving its customer service. In order to build a significant customer service, it is necessary for this retail organization to build a good relationship through effective communication with its customers. As the Oz Supermarket is completely new in this industry, they should try hard to recognize the common ground-like shared interests (Celuch Robinson, 2016). Moreover, this retail chain should always be concerned about the issues faced by the customers so that the issues could be resolved as early as possible. It would help the retail organization to retain the customer satisfaction factor (Krn, 2014). Most importantly, Oz Supermarket should always provide the scope of knowing this retail chain properly to its customers. Providing detailed information about Oz Supermarket can be proven to go long way as well as can also reduce the concerns with safety, trust or accessibility (Pitt et al., 2016). On the other hand, Bringing special services, knowledge as well as face-to-face interactions could help together for creating an authentic community for the customers of this organization. It could be the interactive part of the business operations of this retail chain. As Oz Supermarket is a new retail chain, thus, this retail enterprise can give special offers in order to seek the attention of the customers in terms of creating a strong customer base for this retail chain (Song Kang, 2014). This retail organization should be focused on taking the follow-up after resolving the issues encountered with the customers. Apart from that, the customers of this retail organization would feel more valued if Oz supermarket treats them as the essential members of a community (Tian Schwartz, 2015). Therefore, this organization can bring its customers together in several ways such as trade conventions, trade shows, social media, interactive websites as well as webinars. Suggestions to Improve Business Service or Operation Offerings Being a newly formed retail chain, Oz Supermarket should aim to improvise more and more its business services as well as its operation offerings (Tolstoy, Jonsson Sharma, 2016). Thus, in this regard, Oz supermarket has to focus on getting three major factors such as customer feedback, product quality review and process quality assurance. Customer Feedback Customer feedback always plays a crucial part in order to provide the right path to the organizations in terms of conducting their business operations (Muslimah Simatupang, 2014). Therefore, Oz Supermarket should always provide the scope to the customers in terms of providing feedback regarding their satisfaction factor about both the quality of the product as well as the services provided by this retail chain (da Veiga et al., 2016). Most important thing associated with this factor is that, Oz Supermarket has be very focused in conducting its business operations because any wrong step can ruin its business opportunities. Thus, in this regard, the customer feedback can provide this organization an assessment and an evaluation as well for its business operations (Dean, Fath Chen, 2014). Product Quality Review It can also be an essential and important way for improving the business service or operation offerings of Oz Supermarket (Song Kang, 2014). PQR or Product quality Review is the rolling as well as periodic quality reviews of all licensed medicinal products incorporating only products those are conducted with the goal to verify the consistency of the existing process, the appropriateness of the current specifications for both the finished and starting materials in terms of identifying product improvements and any trends (Celuch Robinson, 2016). Moreover, it can also be an effective quality improvement tool for enhancing the quality of the product. Process Quality Assurance It is such an area for Oz Supermarket that can support the delivery of the high-quality retail products by providing the store managers and staffs at all levels with proper visibility into as well as feedback on, processes and associated work products throughout the life of the project (Sharma Lambert, 2013). Therefore, the practices in process quality assurance area for this retail chain can assure that the planned processes are executed while thee practices in the area of verification process assure that the specified requirements are satisfied (da Veiga et al., 2016). These two process areas can on occasion address the similar work product but from different aspects. Thus, the retail operations of Oz supermarket should take the benefit of the overlap for minimizing duplication of effort while taking care for maintaining distinct perspectives (Tolstoy, Jonsson Sharma, 2016). 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