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Company Audit group 2
Company Audit Colt Refining and Recycling Inc. Metals Recycling IndustryCarl-Magnus Eriksson Lars Persson James Maher Carl Brstad Fredrik Anvret
COLT REFINING AND RECYCLING INC. Precious metals recycling firm o Based out of Northeastern USA Operates in two plants: o Recycling branch in Hudson, NH o Refining branch in Merrimack, NH Recycling over 20 million pounds of scrap and e-waste annually
WHAT IS SCRAP METAL AND E-WASTE Scrap is defined as any recycleable material recovered from any left over product of any matter of consumption. o steel and copper are the most recycled at CRI Inc. E-Waste is any type of electronic scrap which can be recycled into raw material to be reused in the industry served. o computer screens, VCRs, circuit boards, etc o gold, silver, chrome are some of CRI's top precious metals
COLT RECYCLING Take various e-waste product and through both human and machine labor are able to separate and/or shred the valuable materials. o human disassembly o shredders and balers Some is sent for resale Most is sent to refining facility to extract precious metals
COLT REFINING Various physical and chemical processes to remove precious metal from waste. balers, ball mills, hammer mills, granulators, sifters, blenders, processing ovens, melting furnaces interfaced with afterburners, baghouses and dust collectors.
OTHER SERVICES INCLUDE: Proper data removal: o eliminating all data within hard drives and servers E-Scrap removal: o many end products after recycling e-scrap is potentially harmful to the environment o Ensure an environmentally safe removal Proper data destruction o companies sometimes need to remove of a certain product due to malfunction, warranty, or privacy
THE AUDIT1. We have decided to audit the recycling branch, due to easier access of employees 2. The content of the audit includes strategy, innovation organization, linkage, learning, and process. o 360 degree audit involving an executive and a low level employee o incorporates different meanings in metals recycling industry
MEET THE AUDITEES!James Maher III Computer recyclist and technician intern since 2009 Currently studies in Lund, Sweden at Lund University James Maher Jr. Vice President of Colt Refining and Recycling Inc.
Average Strategy Process 5.31 3.81
Vice Deviation President from Mean 5.375 3.875 5.125 3.375 5.25 +.065 +.065 +.125 -.065 0
Employee Deviation from Mean 5.25 3.75 4.875 3.5 5.25 -.06 -.06 -.125 +.06 0
Innovation 5.0 Organisation Linkage Learning 3.44 5.25
SYNTHESIS- IDENTIFY GAPSBy viewing the results we can deduce that: 1. The deviation between the two audits is minuscule, which shows a company with a wide shared mindset and brand identity 2. The weaker competencies include: o Process o Linkage
PROCESSPROCESSES IS RELATED TO THEMECHANISMS ESTABLISHED BY THE COMPANY TO EFFICIENTLY IMPLEMENT A STRATEGY. THE KNOW-HOW!
Internal communication Product development R&D Understanding customer needs Flexibility
INTELLECTUAL PROPERTY- PROCESS In this industry, the goal of the process of recycling is of cost efficient automated processing of e-waste. o least cost to maximize recovery of precious metals CRI Inc. is known in their industry for their "intellectual property" and is considered innovative in this part of their field. o intellectual property consists of ultramodern equipment and process which stands out from their competitors.
PROCESS- WHY, THEN, IS IT WEAK?While their equipment and system from getting scrap to processing precious metals is superior in their industry: Inter-departmental communication is somewhat problematic. They have no innovation or R&D departments o shows a lack of innovative effort o lack of opportunity
LINKAGEBUILDING AND MAINTAINING EXISTINGKNOWLEDGE BASES WITHIN THE COMPANY AND WITH EXTERNAL ACTORS THROUGH CONTINUOUS INTERACTION
Internal training Follow up Customer feedback Contact with external sources
LINKAGEWhile the customer feedback and employee training at Colt Recycling is very strong, External sources with local research universities is weak. Colt Recycling does not generally collaborate with other companies for more cost efficient solutions.
ACTION PLANPROCESSES 1. IMPROVE INTERNAL INFORMATION FLOW BY IMPLEMENTING A FACILITY-WIDE MEETING TODISCUSS WEEKLY GOALS o INCLUDED WITH DEPARTMENTAL MEETINGS 2.DISCUSS WITH RECYCLING MANAGEMENT TEAM ABOUT DESIGNATING SOME CURRENT/NEW WORKERS FOR A R&D TEAM.
ACTION PLANLinkages1. Discuss with central CRI Inc management about the role of research university's and its significance in innovation o begin an annual internship with a local university by recruiting at a college fair 2. Research the beneficial aspects of collaborating with similar companies to see if sharing services may be cost efficient for certain processes.
ADVANTAGES AND INCONVENIENCESAdvantages Inconveniences Normally at CRI, efficiency is Not always applicable measured in cost o General focus o gives different outlook The 90- and 360-degree Gives a clear picture of how assessment are subjective. certain intangible assets are being used