Case Study - Federal Deposit Insurance Corp Essay

Case Study - Federal Deposit Insurance Corp - Essay Example For example, Toyland the owner of a departmental store in Houston, contracts with Pantaloon, a manufacturer of children toys in New York, for $15,000 worth toys. In the absence of negotiable instruments, Toyland would have to remit or take across the country the said amount which is risky and inconvenient. If the money is stolen in transit, it will create additional botheration for the company besides the financial loss. Check facilitates transfer of the funds through the designated bank. The transaction through the check is convenient to both the parties. Some types of negotiable instruments are promissory notes, certificates of deposit, drafts and checks. The legal requirements for an instrument to be negotiable: That it should be in writing and signed by the issuer and it should contain an unconditional promise to pay a fixed amount of money, as per terms and conditions described in the promise or order. It may be with or without interest. It is a bearer instrument or payable to order, either on demand or at prescribed future date. It should â€Å"not state any other undertaking or instruction by the person promising or ordering to do any act in addition to the payment of money. However, it may contain (a) an undertaking or promise relative to collateral to secure payment, (b) an authorization for confession of judgment, or (c) a waiver of benefit of any law intended for the advantage or protection of an obligor.† (p.780) A holder in course of a negotiable instrument has special rights. â€Å"Normally, the transferee of an instrument—like the assignee of a contract—gets only those rights in the instruments that are held by the person from whom he got the instrument. But a holder in due course can get better rights. A holder in due course takes a negotiable instrument free of all personal defenses, claims to the instrument, and claims in recoupment either of the obligor or of a third party.† (p.797)The advantage

Environmental Management and Quality System Essay

Environmental Management and Quality System - Essay Example In addition, it is a formal approach to managing the aspects of an organization’s activities, products, and services that have or could have an impact on the environment (Sheldon & Yoxon, 2002). According to Muchemu (2008), a quality management system is the organization’s structures, processes, procedures, and resources needed to implement quality management. The international and national standards are used to form the foundation for effective quality management systems (Schlickman, 2003). Hallmark is the largest greeting card company in the world owned by a family since it was started more than a century ago. It has an ISO9001 and ISO14001 certified system and other certified systems like BRC, SMETA/SEDEX Ethical, and FSC. In addition, it has other non-certified systems like ISO18001, PEFC, and ISO26000. Having this certified systems means that it is dedicated to management review, legal compliance, continual improvement, internal communications, traceability, concer ns/ incidents and training. This organization has environmental objectives that build to a strategic plan for each area of operations business. It also has personal objectives via appraisal process and independent verification of achievements. The Hallmark’s approach to implementation of environmental management system is by identifying key performance indicators, improvising a mean of measuring those performance indicators and designing a way of improving those performance indicators. One of the key performance indicators that the company has chosen in its approach to implementing environmental management system is to reduce water consumption by a further 5% by the end of this year, based on a 2009 baseline. The company measures this performance indicator using the monthly water usage figures provided for each site by the Yorkshire water company. In the company implementation approach, it aims to improve this key performance indicator by increasing awareness about water cons umption and the costs it brings to the company among all its employees. Moreover, the company is introducing an initiative on reducing water usage. This will be working with cross-functional teams to ensure a reduction for resources that the company uses in its processes. Another key performance indicator that Hallmark decided to use in its approach to implementing an environmental management system is ensuring a reduction in its carbon footprint by a further 2% by the end of this year compared to a 2008 baseline. In this approach, the company uses the annual reporting on energy consumption, LPG consumption and diesel consumption to measure this key performance indicator. To achieve various improvements on this performance indicator Hallmark has designed an energy management team that consists of cross-functional members. This team has been holding several meetings to discuss possible energy reduction initiatives that require being introduced. Moreover, the company has also designed staffs awareness program to educate its staffs on maximum energy utilization and effective energy saving techniques. To continue working towards recycling 95% of all solid wastes by the end of this year is another key perform