Function of Quality vs Finance in Tech Bookstore

Topics: Nuclear power, Chernobyl disaster, Electricity generation Pages: 8 (2906 words) Published: December 14, 2012
Fukushima Nuclear Disaster
1. Introduction
1.1 Background of TEPCO
TEPCOalso known asTokyo Electric Power Co., Ltd, is a Japanese electric utilities servicing Japan's Kanto region, Yamanashi Prefecture, and the eastern portion of Shizuoka Prefecture. The area includes Tokyo and its headquarters are located in Chiyoda, Tokyo, and international branch offices exist in Washington, D.C., and London. 1.1.1 Purpose of the plant operation

The company's power generation consists of two main networks which consist of fossil fuel power plants around Tokyo Bay are used for peak load supply and the nuclear reactors in Fukushima and Niigata provide the base load supply. TEPCO was forced to shut the Nuclear Power Plant after the Niigata-Chuetsu-Oki Earthquakein 2007. Happening, effect and recovery

Japan was hit by a 9.0 magnitude earthquake that triggered a deadly 23-foot tsunami in the country's north. The giant waveoverloaded cities, sweeping away cars, homes and boats, leaving a path of death and devastation in its way. Video footage showed cars racing away from surging waves.The nuclear disasterwas a series of equipment failures, nuclear meltdowns, and releases of radioactive materials at the Fukushima I Nuclear Power Plant, following the Tohoku earthquake and tsunami on 11 March 2011. It is the largest nuclear disaster since the Chernobyl disaster of 1986(CNN. 7 June 2011).Fukushima disaster displaced 50,000 households in the evacuation zone because of radiation leaks into the air, soil and sea [Forbes news, 2012].The Japanese government plans to put TEPCO under effective state control to guarantee compensation payments to the people affected by the accident. The report is to describe, discuss and look into the causes, effects and the actions taken by TEPCO during the Fukushima nuclear disaster. 2. Management and Operation

2.1 Management and its structures
 At TEPCO, the Board of Directors currently comprises 16 directors. They have seven auditors, including four outside auditors. The Board of Directors generally meets once a month and holds additional special meetings as necessary. Based on interactive discussion among directors including objective outside directors, the Board establishes and promotes TEPCO's business and oversees its directors' performance.For more appropriate and quicker decision-making, a Managing Directors Meeting is generally held once a week and other formal bodies also meet to efficiently implement key corporate management issues, including those to be discussed by the Board of Directors.

 TEPCO's auditors thoroughly check the execution of directors' duties and other matters by attending key meetings, including Board of Directors meetings, and by auditing business results, assets and other financial matters at headquarters, main business locations and subsidiaries and affiliates. Also, TEPCO has established the Office of the Assistant to the Auditors to offer full time staff to assist the auditors in their duties. 

 TEPCO has established independent internal auditing organizations which is the Internal Audit & Management of Quality & Safety Department and the Nuclear Quality Management Department. These organizations report main internal audits results to the Managing Directors Meeting and others, and take required measures for improvement [TEPCO, 2012].

2.1.1 Objectives of the management
 TEPCO’s objectives of its plan remain unchanged which is bringing the reactors and used fuel pools to a stable cooling condition and mitigating the release of radioactive materials. However, recent discoveries about the state of the individual units and fuel pools have prompted the company to change the way it aims to meet those objectives.  TEPCO still aims to achieve a steady decline in radiation levels at and around the plant. It also aims to have the release of radioactive materials under control and for the radiation dose to be "significantly held down" in around three to six...
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