Tag: Financial Literacy

Conjoint analysis is a statistical technique that helps in forming subsets of all the possible combinations of the features present in the target product. These features used determine the purchasing decision of the product. Conjoint analysis works on the belief that the relative values of the attributes when studied together are calculated in a better manner than in segregation.

The process provides information about the consumer’s perception about certain characteristics of brands or brand profiles, and they evaluate such characteristics by assigning certain levels to each characteristic. A questionnaire form called the stimuli is presented to the researcher, and this consists of a set of questions that reflects different characteristics of a brand as options that the consumers select as they answer the questionnaires in conjoint analysis.

The stimuli play an important role in conjoint analysis. It is the stimuli that give information to the researchers about the consumer’s preference. With the help of the stimuli, the researchers can perform this method. The researcher should, however, check that the responses are true because the interpretation of the conjoint analysis is dependent on that.

The process of conjoint analysis has found its applications in various disciplines. Such disciplines include branding consumer goods and branding industrial goods, etc. The procedure provides the researcher a flexible opportunity to address certain issues instead of conducting the testing of hypothesis. The researcher should also note that the theory is quite simple and flexible for the researcher to understand, even if he is a non statistical person. The model that is used by the researcher during the procedure is the utility function model. This model is based on the evaluation of conjoint analysis, and is basically a mathematical model. This mathematical model is used by the researcher to express the fundamental relationships between the attributes and the utilities of the attributes that the consumer attaches to it. The dependent variable usually consists of the consumer’s preference or intention to buy a particular brand of product.

There are several procedures for assessing the reliability and validity of conjoint analysis.  A reliability test, called test retest reliability in conjoint analysis, can be used to obtain duplicated judgments that are sometimes involved in data collection. If an aggregate level of conjoint analysis has been done, then the estimation sample can be split into several samples and conjoint analysis is again conducted on each sub-sample. This can assure the researcher that the conjoint analysis being conducted is reliable and valid.

It is important for the researcher to know that conjoint analysis and multidimensional scaling (MDS) are complementary. Both rely on the respondent’s subjective evaluations. The difference between them is that of the stimuli. In conjoint analysis, the stimuli are the combinations of attribute levels, whereas in MDS, the stimuli are the products or brands of the products.

The steps involved while conducting conjoint analysis are the following:

• The first and one of the most obvious steps is the formulation of the problem.
• The next step is to prepare the stimuli.
• The third step is to decide upon the form of data to be input.
• The fourth step involves the selection of the procedure.
• The next step is to interpret the results obtained.
• And the last step is to assess the reliability and validity.

Uses of Conjoint Analysis

Conjoint analyses can break-down large number of attributes into smaller bundles for evaluations and comparison. There attributes can also be compared in pairs: Respondents can be asked to indicate preferences between sets of two or more attributes. In this case, one set of attribute appear on left and another on the right on the questionnaire. This method is simpler as compared to evaluating 15 or 25 attributes simultaneously.

A conjoint analysis is able to breakdown utility to consumer at individual level as well as aggregate of all the responses. Numerous new techniques have been recently developed which help companies determine individual level utilities for choice-based conjoint, which provide companies with useful insight which is invaluable to the decision making when it comes to marketing, pricing and product placement.

The technique offers straightforward methods for experimentation with varying factors such as price, attributes, price etc. Before a product is launched the technique helps create a product profile, which can be altered to generate additional profiles for varying attributes. Consequently this helps businesses find the balance keeping in view the relative desirability of each alternative in a choice set and uses each attribute level uniformly throughout the survey. Conjoint analysis provides information that forms the basis of market segmentation, whereby a large homogenous market is divided into smaller groups bases on demographics, preference, age group, etc. Market segmentation enables businesses to target each homogenous group more effectively since their needs and preferences are recognized, and decisions are taken according.

Conjoint analysis can also be employed to exclusive focus on product features and attributes irrespective of price or brand name, hence enabling calculation of utility on individual basis in regard to the aforementioned specific features the companies seeks to evaluate. Moreover, the technique is widely used to measure the value of brand names in comparison to competing brands. Information can be obtained as to how strong a particular brand is in comparison to specific product and price. It helps businesses make decision based on their brand value in the market, since having a popular brand may not be enough as changes in price and features could impact demand.

Conjoint analysis is an important tool which helps in evaluating brand equity and estimate how market share is impact owing to various tradeoffs between brands, prices and some specific features. Conjoint analysis can be used to determine resource allocation, since businesses have already established which attributes are valued more by the consumers through the analysis. Consequently, companies can allocate the scare resources accordingly. They can choose to eliminate or remove features which are superfluous to the customers or not valued by the consumers. This will save costs for the business, and as already established, will not impact sales, since these particular products are not valued by the customers. Reduced cost would lead to more profitability for the businesses.

Conjoint analysis could be a great help when companies are in the process of re-modeling or revamping their products and services. When new version of a product is to be launched, the questionnaire could include all possible features or attributed a company could possible add. Through conjoint analysis it can be determined which features should be included given the important respondents attach to certain attributes. This will also help ascertaining the impact it would have on costs and revenues and overall profitability.

A product is an article obtained by the transformation of raw material and is marketed/sold by the manufacturer, i.e., a product is a salable item. It may be a consumer product such as cigarettes, televisions or an Industrial product, e.g., a lathe, an overhead bridge crane, etc. Development is carried out after applied research which follows pure research.

Product Development concerns the most economically feasible method for applying the principles identified through Research. Development involves design/redesign and fabrication of new or modified product and then testing it to find its usefulness.

Standardization:

Standards are at the base of all mass production. They make possible thousands of different articles to be placed within the reach of everybody. When one purchases a new spark plug for a scooter or car, he knows that it will screw into the engine head all right. Why? Because spark plug threads are standardized Standards convey the sense that there are only certain specific sizes made and sold. Standards are carefully established specifications for products, materials, etc.

Standardization means producing maximum variety of products from the minimum variety of (i.e., standardized) materials, parts, tools and processes. Standardization is one way which leads to economical products. Standardization usually means that non-standard products will not be produced-except when a customer orders them to be made. Standardization is the process of establishing standards or units of measure by which extent, quality, quantity, value, performance, etc., may be compared and measured.

Standardization procedure:

Steps involved:

(a) With the help of market research, sales statistics, etc. decide what to sell in future.

(b) Then, define a standard range of products.

(c) From the range, ask the designer to develop minimum variety of components to match the range.

Introduce new materials, components, etc. if necessary.

An approach to standardization necessitates the classification of materials and component parts.

Classification:

‘Classification’ is of great value in material and component standardization. Classification aims at, systematically, grouping items, together by their common features and subdividing them by their special features. A system of classification and coding is necessary for the design of new products within the range defined.

Such a system should readily:

(i) Identify and locate identical items.

(ii) Facilitate the use of standard items in new designs.

(iii) Identify substitutes in case of stock outs.

(iv) Help developing Group Technology.

(v) Aid to improve parts location in the store.

Classification procedure involves the following steps:

(i) Define all items.

(ii) Classify each item according to its basic characteristics.

(iii) Identify each item by allocating to it some meaningful code number.

Simplification:

The concept of simplification is closely related to standardization. Simplification is the process of reducing the variety of products manufactured (known as variety reduction). Simplification is concerned with the reduction of product range, assemblies, parts, materials and design. A manufacturer may reduce the number of different types of radio sets from a dozen to three or four to simplify his range. Simplification makes a product, assembly or design, simpler, less complex or less difficult.

Simplification removes the superfluous. It decreases variety of sizes; for example a garment factory making tea-shirts in sizes 16,16¼, 16½ ,16¾ ,17,17¼ etc., can eliminate superfluous sizes such as 16¼,16¾,17¼, etc., and thus simplify its production line. A production line is generally simplified when it possesses unnecessary complexity and confu­sion. Often variety reduction will reveal that a subassembly or component needs simplification.

Variety reduction:

(i) Variety reduction consists in identifying the existing variety and then removing unnecessary items from the system.

(ii) Classification and codification help locating and identifying all items (i.e., products, materials, components, etc.).

The availability of suitable standards assists in simplification.

Advantages:

(1) Simplification involves fewer, parts, varieties and changes in products; this reduces manufac­turing operations and risk of obsolescence.

Since simplification reduces variety, volume of remaining products may be increased. Simplification provides quick delivery and better after-sales service. Simplification reduces inventory and thus results in better inventory control. Generally speaking, simplification implies fewer parts and fewer the parts, the lower the production costs. Thus, simplification reduces price of a product. Simplification improves product quality.

1. Specialization:

Specialization is the natural outcome of the application of standardization and simplification. Specialization means concentrating efforts on a particular field of action or towards a specific attempt. A worker is said to be specialized in a work when he acquires skill and proficiency in it by concentrating solely on it (i.e., on that particular work or job).

A mechanic, brick-layer or an engineer is a specialist in his field. A factory producing spark plugs only is a specialist in its production. Specialization as applied to human activities on shop floor can be defined as ‘Division of Labour’. This means that if a worker instead of completing the full product performs one small operation on the product and attains proficiency in that one activity, he becomes a specialist in that.

Advantages:

(1) Workers achieve a high state of skill and proficiency.

(2) They take smaller times to complete the activity in which they are specialized.

(3) Thus they raise their salaries and their standard of living.

Limitation:

(1) Specialized labour and equipment are not flexible, i.e., they cannot be used for other purposes.

(2) Specialization may result in monotony.

Applications:

(1) Specialization is universal in application; it is a rule rather than exception in today’s industry.

(2) Specialization has been applied to;

(i) Products,

(ii) Processes,

(iii) Individuals,

(iv) Companies,

(v) Jobs, and

(vi) Equipment, etc.

Diversification:

Diversification is just contrary to simplification. Diversification means addition of new products or introduction of established products into new markets. This tends to increase complexity of the methods of manufacturing, because, sometimes consumers like to have variety in type, size, colour and quality of products being manufactured.

This adds to the cost characteristic of the production which is of varied nature. The extent to which diversification programme can be carried out must be determined by market analysis of probable volume at varying levels of diversification compared with production cost of the volumes obtainable at those various levels.

Industries generally expand. An automobile concern may think in terms of diversifying in its own product lines, an aircraft concern may like to expand in the field of propulsion or electronics, and so on. Diversification adds to the classes of consumers served, by developing new technical knowledge.

Purchasing function

The purchasing function used to be part of the production function and enjoyed very little status in the organisation.

Over the past few decades, however, the purchasing activity has grown in stature through recognition of the contribution it makes to the success of any enterprise and it is now recognised as a separate function in its own right.

1. It is interesting to consider the enormous impact efficient purchasing (or procurement as it is often called) has on the costs of an organisation. By rational buying the purchasing department can generate profit immediately.

The huge responsibility falling on those concerned with purchasing, therefore, is clearly visible. This has come about because of the increasing size of organisations, the increasing complexity of materials and components and the extreme competi­tion met in the modern market.

2. The purchasing function differs from most others in that those carrying out this work are to a large extent tied to their own industry. However, there are many activities within the purchasing function that are common to many industries and other types of enterprise.

Activities common to most industries are:

(a) All buyers will need to have a wide knowledge of the markets from which they have to make their purchases, whether these are raw materials, manu­factured components or as in wholesale and retail trading finished goods. The knowledge will extend to how the suppliers perform in regard to reliability and delivery performance.

(b) In most manufacturing industries buyers will have to interact closely with the production department to ascertain their precise requirements. In retail selling the buyer has a key role in the success of the enterprise in that he (or she) must closely watch consumer behaviour and attitude their taste and demand.

(c) Though inventory control may or may not be the direct responsibility of the purchasing officer, he is primarily responsible for ensuring that sufficient supplies of materials or components are available to maintain continuity of production or sales. The buyer may do this by contracts with suppliers for regular deliveries or by building up stocks to be used as and when required.

The former keeps a minimum of capital tied up in store but there is always the risk of suppliers not keeping to delivery undertakings. The suppliers in their turn try to ensure that materials or components are readily available.

(d) In most organisations the purchasing department is responsible for negoti­ating purchase prices and terms of credit.

(e) Purchasing is also generally responsible for ensuring that the goods ordered and invoiced are actually received and that the price charged are those quoted. To mimimise risk, necessary checks are to be carried out by people not directly involved in placing the orders.

(f) Purchasing will constantly monitor expected deliveries to ensure that sup­pliers fulfil their commitments regarding quality and delivery dates.

(g) Purchasing will constantly investigate the market

(i) To seek better products, prices, terms or deliveries;

(ii) To find out alternative suppliers to ensure continuity of deliveries in case the main source suddenly fails for any reason.

Purchasing procedure

1. Determining Purchase Budget:

Purchase Manager prepares a purchase budget for the forthcoming financial year. Purchase budget is prepared with the help of production planning department. It contains detailed information regarding quantity to be purchased, quality of materials, time of purchase and the sources of procurement. A schedule of materials and components needed for various jobs, known as bill of materials, is also prescribed for working out details of purchase budget. A bill of materials is also useful in exercising control over the utilization of materials.

2. Receipt of Purchase Requisition:

The purchase officer initiates action for the purchase of materials only when he receives a request for the same. The store-keeper and departmental heads send requisition slips to purchase department giving details of materials required by their departments etc. A purchase requisition is a form used as a formal request to the purchasing department to purchase materials.

This form is prepared by the store keeper for regular stock materials and by the departmental head for specific materials not stocked as regular items. The store­keeper knows when an action or fresh procurements is to be initiated. He will send the requisition when materials reach re-ordering level. He retains one copy of the requisition with him for future reference .It is on the basis of purchase requisition that orders are placed for materials.

3. Determining Sources of Supply:

Purchase Manager remains in touch with various suppliers of materials. The quotations are invited for the purchase of specific items. After receiving quotations a comparative study is made regarding terms and conditions offered. The factors to be considered include price, quantity, quality, time of delivery, terms of payment, trade discount and reputation of suppliers. After looking at various factors a final decision is taken about the supplier of goods.

4. Placing Order:

After selecting a supplier a formal purchase order is sent for the supply of goods. A purchase order is sent on a printed form and is duly authorized by the purchase manager. This order should contain details about the quantity, quality, price, mode of delivery, terms of payment etc. The purchase order authorizes the vendor to despatch goods specified in it. It establishes a contractual relation between the buyer and the vendor.

5. Follow-Up of Purchase Order:

A purchase order normally bears a date by which the goods must be delivered It is in the interest of the organization that goods are received in time for keeping uninterrupted flow of materials. The suppliers may be reminded of the date of delivery of goods. A follow-up of purchase order is necessary to receive stocks in time.

6. Receipt and Inspection of Materials:

In big concerns the task of receiving materials is assigned to the purchase department whereas in small concerns this work is done by the store keeper. After unpacking goods their quantity is compared to that given in delivery challans. Any discrepancy in items is reported to the purchase department. The specifications and quality of goods is also checked at this stage.

7. Checking Invoices:

Lastly, purchase department checks the invoices supplied by the vendor with that of its own records. The quantity, quality, price, terms etc. are compared with those given in purchase order. After making full checking the invoices are sent to accounts department for payment.

A transformation process is any activity or group of activities that takes one or more inputs, transforms and adds value to them, and provides outputs for customers or clients. Where the inputs are raw materials, it is relatively easy to identify the transformation involved, as when milk is transformed into cheese and butter. Where the inputs are information or people, the nature of the transformation may be less obvious. For example, a hospital transforms ill patients (the input) into healthy patients (the output).

Transformation processes include:

• Changes in the physical characteristics of materials or customers
• Changes in the location of materials, information or customers
• Changes in the ownership of materials or information
• Storage or accommodation of materials, information or customers
• Changes in the purpose or form of information
• Changes in the physiological or psychological state of customers.

Often all three types of input – materials, information and customers – are transformed by the same organisation. For example, withdrawing money from a bank account involves information about the customer’s account, materials such as cheques and currency, and the customer. Treating a patient in hospital involves not only the ‘Customer’s’ state of health, but also any materials used in treatment and information about the patient.

One useful way of categorising different types of transformation is into:

• Manufacture: the physical creation of products (for example cars)
• Transport: the movement of materials or customers (for example a taxi service)
• Supply: change in ownership of goods (for example in retailing)
• Service: the treatment of customers or the storage of materials (for example hospital wards, warehouses).

Several different transformations are usually required to produce a good or service. The overall transformation can be described as the macro operation, and the more detailed transformations within this macro operation as micro operations. For example, the macro operation in a brewery is making beer. The micro operations include:

• Milling the malted barley into grist
• Mixing the grist with hot water to form wort
• Cooling the wort and transferring it to the fermentation vessel
• Adding yeast to the wort and fermenting the liquid into beer
• Filtering the beer to remove the spent yeast
• Decanting the beer into casks or bottles.

Type of inputs:

• Materials
• Information (e.g. Consultancy firms and accountancy firms)
• Customers (e.g. Hairdressing, Hospitals)

Transformation process is any activity or group of activities that takes one or more inputs, transform and adds value to them and provides output for customers.

Transformation process includes:

• Changes in the physical characteristics of materials or customers
• Changes in the location of materials, information or customers
• Changes in the ownership of materials or information
• Storage or accommodation of materials, information or customers
• Changes in the purpose or form of information
• Changes in the physiological or psychological state of customers.

Type of transformation:

• Manufacture: The physical creation of products (for example cars)
• Transport: The movement of materials or customers (for example a taxi service)
• Supply: Change in ownership of goods (for example in retailing)
• Service: The treatment of customers or the storage of materials (for example hospital wards, warehouses).

Nature of outputs:

• Tangibility
• Transportability
• Storability (can be stored)
• Customer contact
• Simultaneity
• Quality

(1) Production control:

Production planning cannot be properly achieved without an effective system of production control. It is in fact concerned with successful implementation of production planning. It aims at completing production well in time and also with lesser costs. A proper system of production control ensures continuous production, lesser work-in-progress and minimisation of wastages.

(2) Production planning:

Production planning is the first function performed by the production manager.

Production planning is concerned with thinking in advance what is to be produced, how it is to be produced and by what time should it be produced. It is concerned with deciding about the production targets to be achieved by keeping in view the sales forecasts.

(3) Quality control:

The production manager is also concerned with maintaining required quality of the product. Quality control is concerned with controlling the negative variables which affect the ultimate quality of a product. It is concerned with use of all the ways and means where by quality standards could be maintained.

(4) Inventory control:

The next important function to be carried by a production manager is to exercise proper control over the inventory. He should determine economic order size, maximum, minimum, average and danger levels of materials so that problems of overstocking and understocking do not arise. This also helps in minimising wastages of materials.

(5) Method analysis:

There are many alternative methods for manufacturing a product. Some methods are more economical than others. The production manager should study all the methods in detail by analysing them in detail and select the best alternative out of them. The process of selecting the best alternative is known as methods of analysis.

Methods of analysis are considerably helpful in minimising the cost of production and improving productivity of the concern.

(6) Plant layout:

Plant layout is primarily concerned with the internal set up of an enterprise in a proper manner. It is related to orderly and proper arrangement and use of available resources viz., men, money, machines, materials and methods of production inside the factory. In other words it is concerned with maximum and effective utilisation of available resources at minimum operating costs.

(7) Work measurement:

Work measurement methods are concerned with measuring the level of performance of work by a worker. Time and motion studies techniques can be used for work measurement. If a worker works below the level fixed by work-measurement techniques, his performance must be improved through positive or negative incentives.

Production Management refers to the application of management principles to the production function in a factory. In other words, production management involves application of planning, organizing, directing and controlling the production process.

Production management also deals with decision-making regarding the quality, quantity, cost, etc., of production. It applies management principles to production.

Production management is a part of business management. It is also called “Production Function.” Production management is slowly being replaced by operations management.

Objectives:

The main objective of production management is to produce goods and services

of the right quality, right quantity, at the right time and at minimum cost. It also tries to improve the efficiency. An efficient organisation can face competition effectively. Production management ensures full or optimum utilisation of available production capacity.

1. Right Quantity

The manufacturing organisation should produce the products in right number. If they are produced in excess of demand the capital will block up in the form of inventory and if the quantity is produced in short of demand, leads to shortage of products.

2. Right Quality

The quality of product is established based upon the customer’s needs. The right quality is not necessarily best quality. It is determined by the cost of the product and the technical characteristics as suited to the specific requirements.

3. Right Manufacturing Cost

Manufacturing costs are established before the product is actually manufactured. Hence, all attempts should be made to produce the products at pre-established cost, so as to reduce the variation between actual and the standard (pre-established) cost.

4. Right Time

Timeliness of delivery is one of the important parameter to judge the effectiveness of production department. So, the production department has to make the optimal utilisation of input resources to achieve its objective.

Function:

The activities of production department of an organisation are grouped into two broad categories:

1. The activities that convert the available capital in to physical resources required for production
2. The activities that convert the physical resources in to saleable goods and services.

In carrying out the above activities, the production department must perform the following activities:

1. Production of goods at the right time and in sufficient quantity to meet the demand.
2. Production of goods at minimum possible cost.
3. Production of goods of acceptable quality.

Thus, the functions of production personnel are:

1. Forecasting the demand for the products and using the forecast to determine the requirements of various factors of production.
2. Arranging for the procurement of required factors of production.
3. Arranging for the services such as maintenance, store keeping material handling, inspection and quality control etc. that would be required to attain the targeted level of production.
4. Utilizing effectively the factors of production and service facilities available to produce the product.

Scope of Production Management:

The objectives of production management are aimed at satisfying the needs of the customers through offering organisations products/services. The scope of production management can be considered from the point of view of both strategic decisions influencing the production system and at the operation level. The strategic level decisions are mainly concerned with the design of product and production system. These decisions involve decisions, which have long terms implications.

Assembly line balancing operates under two constraints:

• Precedence requirement
• Cycle time restriction

Precedence requirement: It is physical restriction on the order in which operations are performed.

Cycle time: Cycle time is the total time from the beginning to the end of your process, as defined by you and your customer. Cycle time includes process time, during which a unit is acted upon to bring it closer to an output, and delay time, during which a unit of work is spent waiting to take the next action.

Cycle time

Desired cycle time (Cd) = Total time available for production / Number of units to be Produce

Steps In Line Balancing Process

• Draw and label a precedence diagram.
• Calculate the desired cycle time required for the line.
• Calculate the theoretical minimum number of workstations.
• Group elements into workstations, recognizing cycle time and precedence constraints.
• Calculate the efficiency of the line.

Determine if the theoretical minimum number of workstations or an acceptable efficiency level has been reached.

Computrized Line Balancing

Line balancing by hand becomes unwieldy as the problems grow in size. Fortunately, there are software packages that will balance large lines quickly. IBM’s COMSOAL (Computer Method for Sequencing Operations for Assembly Lines) and GE’s ASYBL (Assembly Line Configuration Program) can assign hundreds of work elements to workstations on an assembly line. These programs, and most that are commercially available, do not guarantee optimal solutions. They use various heuristics, or rules, to balance the line at an acceptable level of efficiency. The POM for Windows software lets the user select from five different heuristics: ranked positional weight, longest operation time, shortest operation time, most number of following tasks, and least number of following tasks. These heuristics specify the order workstations. Elements are assigned to workstations in the order given until the cycle time is reached or until all tasks have been assigned.

Heuristic Line Balancing

An efficient single-pass heuristic method capable of finding good solutions for the single-model deterministic line balancing problem is presented. The method involves four phases for simplifying a given problem, reducing its size and decomposing it into smaller subproblems when appropriate. The solution is then found by using combinations of various heuristic rules.

Advantages

Sequential flow

It directs the process towards sequential and smooth material flow by following a series of operations at a unified rate.

Cost Reduction

Helpful in the reduction of the product and inventory cost.

Reducing Ideal Time

Enables production houses to reduce their Ideal Time from the overall process.

Reduced Conjunction

Line balancing reduces the chances of conjunction in the assembly line.

Less Processing Time

ALB reduces the total processing time of the production process.

Utilization of Resources

It assures the optimum use of the equipment and the workforce.

Less Wastage

Balancing the line helps in reducing cost and wastage.

Assembly Line Balancing Models

Group 1

• Single Model: It is used where the production of a single commodity takes place.
• Multi-Line Model: In this, the manufacturing takes place in batches, i.e. production of more than one commodity.
• Mixed Model: Here, the production happens for the same product’s variants simultaneously. But the production is not happening in batches.

Group 2

Simple ALB: It is the simplest and most systematic model for line balancing. The production of a single commodity takes place having features like:

• Fixed-rate launching
• Equally equipped stations
• Serial Layout

General ALB: All the models, excluding small ALB, are the general ALB. It may include:

• Balancing of mixed models
• Parallel, U-shaped & two-sided models

SQL Commands

• SQL commands are instructions. It is used to communicate with the database. It is also used to perform specific tasks, functions, and queries of data.
• SQL can perform various tasks like create a table, add data to tables, drop the table, modify the table, set permission for users.

Data Definition Language (DDL)

• DDL changes the structure of the table like creating a table, deleting a table, altering a table, etc.
• All the command of DDL is auto-committed that means it permanently saves all the changes in the database.

Commands that come under DDL:

• Create
• Alter
• Drop
• Truncate

Data Manipulation Language

• DML commands are used to modify the database. It is responsible for all form of changes in the database.
• The command of DML is not auto-committed that means it can’t permanently save all the changes in the database. They can be rollback.

Commands that come under DML:

• Insert
• Update
• Delete

Data Control Language

DCL commands are used to grant and take back authority from any database user.

Commands that come under DCL:

• Grant
• Revoke

Transaction Control Language

• TCL commands can only use with DML commands like INSERT, DELETE and UPDATE only.
• These operations are automatically committed in the database that’s why they cannot be used while creating tables or dropping them.

Commands that come under TCL:

• Commit
• Rollback
• Savepoint

Data Query Language

DQL is used to fetch the data from the database.

It uses only one command:

• Select

Report generation

A report generator is a computer program whose purpose is to take data from a source such as a database, XML stream or a spreadsheet, and use it to produce a document in a format which satisfies a particular human readership.

Report generation functionality is almost always present in database systems, where the source of the data is the database itself. It can also be argued that report generation is part of the purpose of a spreadsheet. Standalone report generators may work with multiple data sources and export reports to different document formats.

An early report writer was part of the Nomad software.

Information systems theory specifies that information delivered to a target human reader must be Timely, Accurate and Relevant. Report generation software targets the final requirement by making sure that the information delivered is presented in the way most readily understood by the target reader.

Features of Report Generator:

• For every phase of report generation, the report generator is user-friendly and effective.
• From numerous sources of data, report generators can easily extract information.
• Report generator operators with real-time work. The reports are automatically generated after arranging templates and report the frequency of annual, quarterly, monthly, and day to day reports and are sent to the email address that is set.
• Report generator supports the reuse of templates to generate reports.
• Printing or exporting of reports is supported by the report generator. The report can be exported or printed in pdf, images, or excel.
• Users can review the reports anywhere and anytime by their phones with the help of the report generator.

Steps to Generate

Step 1

Open your preferred DBMS. Ensure that the application loads the data from the appropriate database.

Step 2

Navigate to the report writer within your DBMS. Select the tables from the database you wish to report. For example, your database might contain all inventory information but your report might want to pull only the tables that contain damaged and returned inventory.

Step 3

Design the appearance of your report in the “what-you-see-is-what-you-get” (WYSIWIG) report designer window. Insert static text, such as headers and titles, like “Damaged Inventory.”

Step 4

Insert dynamic text. Use the query language of your DBMS to indicate where the report generator should insert the values for specific fields, such as “Serial Number” or “Date Returned.”

Step 5

Preview the report using the report writer in your DBMS. Check that the layout displays properly and that the dynamic text is correct. Make any necessary corrections to the template.

Step 6

Export the report using your DBMS report writer. Save the file in your desired format, such as PDF or XML.

Diction is one’s choice and use of words and phrases in speech or writing — in other words, almost the same as phraseology (a manner of expression, particularly one that’s characteristic of a particular speaker or writer). It can also mean the style of enunciation (the style of pronouncing words) in speaking or singing.

Diction is:

• A style of speaking or writing as dependent upon choice of words.
• The accent, inflection, intonation, and speech-sound quality manifested by an individual speaker, usually judged in terms of prevailing standards of acceptability; enunciation.

Pronunciation/ Accent is simply the way a given word is pronounced (the sound made for that word, and this sound may be in the correct way or something else).

Therefore, diction and pronunciation/ Accent are essentially different things, but they have a certain degree of overlap

Ethnocentrism in social science and anthropology as well as in colloquial English discourse means to apply one’s own culture or ethnicity as a frame of reference to judge other cultures, practices, behaviors, beliefs, and people, instead of using the standards of the particular culture involved. Since this judgment is often negative, some people also use the term to refer to the belief that one’s culture is superior to, or more correct or normal than, all others especially regarding the distinctions that define each ethnicity’s cultural identity, such as language, behavior, customs, and religion. In common usage, it can also simply mean any culturally biased judgment. For example, ethnocentrism can be seen in the common portrayals of the Global South and the Global North.

Ethnocentrism is sometimes related to racism, stereotyping, discrimination, or xenophobia. However, the term “ethnocentrism” does not necessarily involve a negative view of the others’ race or indicate a negative connotation. The opposite of ethnocentrism is cultural relativism, which means to understand a different culture in its own terms without subjective judgments.