A Study of Factors Driving Shareholders’ Value Free Essays

string(59) Commodity Broking and Distribution of Financial Products. [pic] A Study of Factors Driving Shareholders’ Value and Influencing Sensex Fluctuation In India Executive Summary The goal of this venture is to dissect the most significant variables which drive investors, esteem. Shareholders’ esteem here alludes to the MVA (showcase esteem included) which implies the extra worth which investors are acquiring on their put away cash. The presentation of an organization matters a great deal in making a positive picture of that organization before its partners. We will compose a custom exposition test on A Study of Factors Driving Shareholders’ Value or then again any comparative point just for you Request Now In addition, the primary goal of an organization is to augment the shareholders’ esteem. Along these lines, investors consistently need to realize that the Company with whom they have depended their well deserved cash is effectively using it and hence, making Value for them. We have consistently perused the yearly report of the Companies to discover data about their â€Å"top line† and â€Å"bottom line†. We likewise have different money related proportions and terms which go about as basic elements to consider for our guide like Return on Capital Employed (ROCE), Return on Net worth (RONW), Earning per Share (EPS), Dividend per Share (DPS), Debt Equity Ratio (D/E Ratio) and Economic Value Added (EVA). This exploration is an endeavor to see if EVA, DPS, D/E Ratio, EPS, ROCE, RONW of the organizations recorded in sensex truly clarifies the worth accumulation for the investors and cause vacillation in sensex. In this way, I have accepted these factors as Independent factors and MVA as a reliant Variable (shareholders’ worth) to apply relapse investigation to come out with an outcome that which variable is having a serious extent of Correlation with MVA and essentially clarifies variety in MVA. To play out this investigation optional information has been gathered from Prowess and www. bseindia. com Out of 30 organizations recorded in sensex, 23 organizations are chosen as test. 7 organizations are killed in view of lacking data accessible for these organizations. The explanation for picking these organizations is that their dependability as far as determination of the Companies as just those Companies are chosen which have a posting history of in any event multi month with adequate exchanging recurrence. After that the information of various money related pointers of these Companies (RONW, ROCE, D/E Ratio, EPS, DPS, Avg. Market Capitalization and Beta worth) are gathered for the time of 2003-2008. CAPM model is utilized for computing cost of value. The EVA and MVA is determined. After that change in MVA has been determined with deference of earlier year. Here 2003 has been taken as a base year and study has been done year astute from 2004-2008. Both EVA and Change in MVA are normalized by separating them two by Net Worth of the particular organizations. This is done so as to get relative estimation of EVA and MVA over a similar Net Worth. SPSS programming is utilized for applying straightforward and different relapse examination. First Simple relapse has been applied taking each Independent variable in turn so as to discover most significant variable and dispose of least significant variable and break down every factors impact over Change in MVA exclusively. After this different relapses has been applied so as to discover the mix of Independent factors which are emphatically corresponded with change in MVA. In my examination EVA has been discovered the most significant variable then RONW, and afterward ROCE. These factors are having a serious extent of relationship with change in MVA and essentially clarifying the variety in MVA independently. While the mix of EVA, EPS, and DPS are having a serious extent of relationship with change in MVA. In this way, my examination shows that it is ideal to put resources into an organization creating higher and positive EVA, RONW, and ROCE it will increase the value of investors. Record Chapter-1 Introduction Page No. 1. 1 Company Profile†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 12-13 1. 2 Product Services Offered by IL Investsmart†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 14-16 1. 3 Background of the Problem†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17-19 1. Presentation of the Project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 20-21 1. 5 Scope of the Project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 22 1. 6 Literature Review†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23-24 1. 7 Abbreviation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 25 1. 8 Research Objective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26 1. 9 Introducing MVA and EVA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 27 Chapter-2 Research Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦29-30 2. 1 Limitation of Research†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 31 Chapter - 3 Research Analysis 3. 1 Different Measures utilized for Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦36-36 3. 2 Regression Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 37 3. Year astute Result of Simple Regression analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦38-4 2 3. 4 Overall Result of Simple Regression Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 43 3. 5 Year astute Results of Multiple Regression Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 44-62 3. 6 Overall consequence of Multiple Regression Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 63-64 Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 65 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 66 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 67 Appendices Appendix-1 Table of Annual Return of Sensex†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 68 Appendix-2 Table of Year shrewd Annual NOPAT of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Appendix-3 Table of Year insightful Annual RONW of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 70 Appendix-4 Table of Year savvy Annual ROCE of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 71 Appendix-5 Table of Year shrewd Annual D/E Ratios of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 72 Appendix-6 Table of Year insightful EPS of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 73 Appendix-7 Table of Year astute DPS of the Co mpanies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 74 Appendix-8 Table of Year astute Annual Market Cap. of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 75 Appendix-9 Table of Year astute Equity of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦76 Appendix-10 Table of Year shrewd Bank acquiring of the Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Appendix-11 Table of Year astute Annual Beta estimation of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 78 Appendix-12 Table of Year shrewd Levered Beta estimation of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦79 Appendix-13 Table of Year insightful expense of value of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 80 Appendix-14 Table of Year shrewd Cost of Capital of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦ 81 Appendix-15 Table of Year savvy EVA of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 82 Appendix-16 Table of Year insightful Stdz. EVA of Companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 83 Appendix-17 Table of Yaer shrewd MVA of Companies†¦Ã¢ï¿½

Breaking the Spell Free Essays

HADD represents Hyperactive operator discovery gadget which goes about as an implicit or early learned inclination or mental apparatus to assist individuals with understanding changes in their condition. Also, it helps in recognizing early thought processes. By animating hazy parts of a situation which at that point produces conviction or lucidity in such confounding parts of a domain, it assists with clarifying religion and how information is procured from God. We will compose a custom exposition test on Breaking the Spell or then again any comparative theme just for you Request Now in the event that that bodes well) An exopsychic choice strategy is something along the lines of â€Å"passing the buck† as people endeavor to learn or help comprehend their religion somewhat by giving the obligation to another person who might do likewise. To help clarify religion, forecast of what the divine beings would do enable strict adherents to settle on their own choices along these lines shaping an apparent method of following religion which gets gave to following ages. Nobody truly knows without a doubt why certain strict demonstrations are followed, yet as long as nobody is scrutinizing the demonstrations, they keep on being polished despite the fact that nobody truly knows the explanation for it. The most effective method to refer to Breaking the Spell, Essay models

Systems Maintenance HU Example

Systems Maintenance HU Example Systems Maintenance HU â€" Assignment Example > Introduction iBay company high depends on IT since it has its market depending on IT infrastructure. It uses phone, online and catalogue orders for its products. The company’s objective is to grow its sales despites global economic recession. This can only be achieved if the current customers are happy and more customers are being recruited to the companies’ market. This can only be achieved through success in the IT department and the marketing departments. The marketing department has deliberate effort towards achieving the same. This leaves the challenge to the IT department. SLA system is supposed to meet the company needs. It should facilitate communication in the company as well as meet the routine cores that any IT system in the company is supposed to meet. However, there are complaints from the users of the system. SLA system does not meet the requirements and expectation of its users. IT in this company should champion in the process of realizing the company objective s, (Information Systems Audit and Control Association, 2002). It should provide reliable sources of data, information and services. The system should give a framework that that will help the company achieve its objectives. Discrepancy reportThe company has several Discrepancies in the IT department. To begin with, currently the company is outsourcing web maintenance. Some computers in the company are very old especially those that are used for the training and call centre sales staff. All the 10 computers in the second floor are out of warranty. Another major problem in the company is lack of audit/inventory information about the IT assets in the in the company. There is shortage of human resource in the IT department in the company. First of all, the IT manager left, the personnel in charge of hardware and software works only 20 hours a week. The person in charge of software and hardware some times does not attend software problems yet he is in charge. The IT personnel also do no t meet and interact with the other company staff; in fact, there are complaints that they are not always in the office. It is evident that the IT staff lack motivation, competency experience in their work since most of the work is unattended. According to a research done by Jarrod; the person in charge of the hardware and software issues in the company, remote logging software should be implemented. Nobody in the IT department can help handle the problem since the office there are busy handling daily routine jobs on top of lack of commitment and skills required. Current network infrastructureIn a business entity, IT infrastructure should meet the company needs. It should aid in supporting the organizations’ effort in striving to achieve set goals and objectives. IT should also come handy to facilitate communications and meeting the business objectives. The company uses token ring networking technology which is a LAN network. It has a 10/100 layer-2 Ethernet switch, the switch is running on cat 5e cables. The architecture used here is routed backbone. It also has a server. It has routers and gateways. It has three levels of network users, these are administrations office, call center level and management level all being LAN which uses Ethernet technology. Except 10 PC which are in the second floor, all the PC in the company is covered by limited warranty from the vendor.

Strait of Hormuz - History and Importance

The Strait of Hormuz is a strategically important strait or narrow strip of water that links the Persian Gulf with the Arabian Sea and the Gulf of Oman (map). The strait is only 21 to 60 miles (33 to 95 km) wide throughout its length. The Strait of Hormuz is important because it is a geographic chokepoint and a main artery for the transport of oil from the Middle East. Iran and Oman are the countries nearest to the Strait of Hormuz and share territorial rights over the waters. Due to its importance, Iran has threatened to close the Strait of Hormuz several times in recent history. Â   Geographic Importance and History of the Strait of Hormuz In 2011, nearly 17 million barrels of oil, or almost 20% of the world’s traded oil flowed on ships through the Strait of Hormuz daily, for an annual total of more than six billion barrels of oil. An average of 14 crude oil ships passed through the strait per day in that year taking oil to destinations such as Japan, India, China and South Korea (U.S. Energy Information Administration). As a chokepoint the Strait of Hormuz is very narrow – just 21 miles (33 km) wide at its narrowest point and 60 miles (95 km) at its widest. The widths of the shipping lanes however are much narrower (about two miles (three km) wide in each direction) because the waters are not deep enough for oil tankers throughout the strait’s width. The Strait of Hormuz has been a strategic geographic chokepoint for many years and as such it has often been the site of conflict and there have been many threats by neighboring countries to close it. For example in the 1980s during the Iran-Iraq War Iran threatened to close the strait after Iraq disrupted shipping in the strait. In addition, the strait was also home to a battle between the United States Navy and Iran in April 1988 after the U.S. attacked Iran during the Iran-Iraq War. In the 1990s, disputes between Iran and the United Arab Emirates over control of several small islands within the Strait of Hormuz resulted in further treats to close the strait. By 1992 however, Iran took control of the islands but tensions remained in the region throughout the 1990s. In December 2007 and into 2008, a series of naval events between the United States and Iran took place in the Strait of Hormuz. In June of 2008 Iran asserted that if it were attacked by the U.S. the strait would be sealed off in an effort to damage the world’s oil markets. The U.S. responded by claiming that any closure of the strait would be treated as an act of war. This further increased tensions and showed the importance of the Strait of Hormuz on a worldwide scale. Â   Closure of the Strait of Hormuz Despite these current and past threats, the Strait of Hormuz has never actually been closed off and many experts claim that it will not be. This is mainly due to the fact that Iran’s economy depends on the shipment of oil through the strait. In addition any closure of the strait would likely cause a war between Iran and the U.S. and generate new tensions between Iran and countries like India and China. Instead of closing the Strait of Hormuz, experts say it is more likely that Iran will make shipment through the region difficult or slow with such activities as seizing ships and raiding facilities. To learn more about the Strait of Hormuz, read the Los Angeles Times’ article, What is the Strait of Hormuz? Can Iran Shut Off Access to Oil? and The Strait of Hormuz and Other Foreign Policy Chokepoints from US Foreign Policy at About.com.

Shirley Jackson’s Constant Battle of Self Satisfaction

Noted by Darryl Hattenhauer, Shirley Jackson, an American gothic author, was ranked among Americas most highly regarded fiction writers during the 1940s, 1950s, and 1960s (1). Jackson argued that â€Å"a good story must engage its reader, persuade him that he wants to belong in the story for as long as it lasts† and if the author fails to provide such experience then they can consider their work a failure (Hall 113). The idea of authors providing an experience of enjoyment, made Jackson a successful writer. She also believed that if an author is asked where their ideas come from they would simply â€Å"find [themselves] telling over, in some detail, the story of [their] life† (Hall 117). Jackson’s continuous refusal to agree with her mother’s†¦show more content†¦Mr. Summers is hesitant and even asks Mrs. Dunbar, â€Å"Dont you have a grown boy to do it for you, Janey?† Here Mr. Summers, even though not specifically stated, implies that a w omen was not capable of picking out a ticket for the family, it’s a man’s job to carry out such task. As the lottery continued, Mr. Summers didn’t hesitate when Watson, a young boy, was going to draw for his mother and himself. He was complimented rather than questioned by Mr. Summers as he stated, â€Å"Glad to see your mothers got a man to do it.† Again, emphasizing the idea that it was more appropriate for a man to do this job even if that man was a young inexperienced boy. Influenced by the refusal of how woman should portray themselves, Jackson’s stories included many women references that began with the disagreements of her mother’s beliefs regarding the typical woman. The repeated struggle against depression influenced many of Jackson’s stories. Since childhood, Jackson suffered from anxiety about her personal appearance leading her to believe she was an outcast. Though depression must have been a tough challenge, the benefit of her isolation was the skill she mastered of being a writer. Isolating herself in 1936, â€Å"Jackson withdrew from the university and spent the next year at home† in which during that period â€Å"she became a meticulous and disciplined writer† (Shirley Hardie Jackson par 1). As Jackson aged, her

Finance and Law Money Laundering and New Payment Methods Free Essays

Executive Summary In recent times, new and innovative methods enabling funds transfer through electronic methods across the borders have increased. These have opened new opportunities for money laundering and the financing of terrorism. As a result, this report explores the issues surrounding NPMs (New Payment Methods) and as such it has explored non-face-to-face typology as one of the most abused NPM typologies. We will write a custom essay sample on Finance and Law: Money Laundering and New Payment Methods or any similar topic only for you Order Now Moreover, the vulnerabilities the NPM could expose in relation to the firm and its products such as fraud, reputational, legal and operational risks have been discussed in detail. Outstandingly, special considerations that NPM should include in their AML systems have been identified with the likes of data encryption, antispam, antiphishing and privacy policies along with limitation of the accessibility of personal data. Again, measures like setting out in the law the customer Due diligence measures, have been identified as effective tools directed towards the regulation and guidance relating to NPMs in order to better protect the firm and the customer, from the risks associated with the new payment methodologies. Introduction In the modern times, new and innovative methods of funds transfer through electronic methods across the borders have increased. These have opened up new opportunities for money laundering and the financing of terrorism. Following this point, the FATF (Financial Action Task Force) Typologies Report of 2006 on New Payment Methods (13th October 2006) recognized the emergence of the new payment methods as being far different from the traditional methods of money transfer. With the emergence of the new and innovative methods of cross border money transfers, AML (Anti-Money laundering) vulnerabilities increased. Subsequently, FATF published their report â€Å"Money Laundering Using New Payment Methods† (2010), which revealed the potential risks of money laundering and the financing of terrorism using the New Payments Methods. Furthermore, the report revealed the actual risks through an analysis of new case studies along with the particular typologies. In the light of this point, the purpose of this report is to remind the regulatory Authority department of the issues surrounding NPMs. In connection to this point, an example of a NPM typology will be given explaining its mode of operation and its vulnerability to money laundering through a financial firm and its products. Accordingly, the report will identify and as such determine special considerations that NPM providers need to include in their AML systems in order to combat the abuse of NPMs through money launderings. Moreover, the report will reveal the measures which, if considered and implemented would improve guidance and regulation to NPMs translating to better protection of the firm and its customers. NPM Typology 2: Non-face-to-face NPM accounts Basically, typology two describes a model through which most NPMs rely on and as such it is a business model where minimal face to face interaction is utilized or it is absent. In the light of this point, Internet payment services (IPS) such as PayPal and moneybookers among others as such together with prepaid cards (MasterCard, Visa Electron, Maestro, etc) are utilized (Paulus, Pohlmann Reimer 2005). Under this typology, online banking, prepaid internet payment products and digital currencies are commonly used. Notably, the non-face-to-face nature of most NPMs can facilitate cases of money laundering through the abuse of the system by the criminals. On the other hand, typology one has to do with third party funding whereby cards can be funded through the bank, cash and person to person transfers. Additionally, there is the third typology (complicit NPM providers or their employees).There is also a high risk as portrayed in findings made in the past of IPS and prepaid card providers who were controlled by criminals and as such promoted cases of laundering How Non-face-to-face NPM accounts can be utilized for money laundering and terrorist financing purposes According to Financial Action Task Force (2006), several cases were brought out through which NPM products were used to launder illegitimate proceeds. This was accomplished by theft of identity together with money being stolen from bank accounts or credit and debit cards through the use of computer hacking. It was also accomplished through phishing, which describes a fraudulent e-mail designed to bring about the theft of information or identity. Owing to such abuses, the criminals managed to hack through the computers with such information and as a result, bank accounts, credit and debit cards were used as reference translating to funding of IPS or prepaid card accounts (FATF Report 2010). In such a case, it is not easy to determine or rather detect a suspicious activity. Likewise, the non-face-to-face typology facilitated money laundering through fake and stolen identities being used to create NPM accounts. In such cases, IPS or prepaid cards are used as transit accounts for the financing of terrorists’ activities and money laundering. Therefore, a firm wishing to offer NPM as one of its products, should critically consider the way NPMs makes AML systems vulnerable to money laundering activities. It is important to take note of the fact that most of the services offered in this typology are virtual in the sense that the customers dealt with are virtual and in such a case cross-border transfers are common. So to speak, identification, verification and monitoring systems should be implemented in such a manner that they can detect any form of money laundering. However, this may be limited by the fact that credit risk does not exist in this typology (FATF Report 2010). Therefore, the service providers may not be so concerned with the money laundering activity detection since this may not bring about credit risks to them. Vulnerabilities the NPM could expose in relation to the firm and its products A firm offering NPM products and services should be careful of misuse and abuse by criminals and terrorists since the typology deals with virtual customers. In actuality, a firm offering such a service or product should understand the risk of exploitation of the non-face to-face nature of NPM accounts whereby criminals may use fake identities, documents or stolen identities and documents (FATF Report 2010). The firms should understand the exposure of the firm and its products to money laundering activities carried out by hacking and phishing of account information and identities (Bidgoli 2006, p.399). In reality, the firm venturing in such a business should ensure that it has functional identification, verification and monitoring systems in order to avoid the risks associated with such dealings. Such risks involve the reputational implications if customer’s accounts are hacked. In the same manner, the firm should be careful of operational risks which refer to the loss incurred as a result of failed or inadequate processes, systems, external events and people involved (Bidgoli 2006, p.399). In addition, there is also a legal risk if the identification, verification and monitoring systems are not implemented with tight surveillance to detect illicit activities by terrorists. In particular, a legal risk has to do with the potential for law suits once involved in a money laundering case. Again, it may result in sanctions, unenforceable contracts, penalties and fines which may translate to significant financial costs (Steiner Marini 2008). Furthermore, the institution’s licences may be revoked and this may lead to the closure of the institution and as such, may be expensive for the institution since the losses involved may be costly (Fagan Munck 2009). Special considerations that NPM providers need to include in their AML system Following the increased use of NPMs, service providers should reform and as such restructure their AML systems from the traditional way of operation to a more modern one. In this sense, NPM providers need to involve verification, identification and monitoring systems to track records even in the real time. In line with this point, NPM providers should install anti-phishing mechanisms during login and as such, personalized images next to password prompts should be implemented (Moore 2010, p. 145). As a security measure, TLS Encryption and authentication should be applied by NPM service providers. In the same line of thought, NPM providers should also employ antispam policies and as such, employees should be restricted from interfering or rather exposing personal information of the accounts of the customers (Moore 2010, p. 145). In essence, controls to combat the abuse of the NPMs and counteract any potential risk to the firm should begin with customer due diligence (CDD). In line with this point, use of ATMs, prepaid cards, mobile and internet banking has presented a great opportunity for money launderers. However, there are some countermeasures that can prove viable. For instance, one countermeasure may be the implementation of robust identification and verification procedures (FATF Report 2010). In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced in this case can help with law enforcement (Marks et al. 2012). Essentially, NPM providers should include a robust identification system and as such, should not allow a double holding on accounts by one user. This is to suggest that they should ensure that there is no confusion of identities. This is given to the reason that some individuals may hold several accounts under the same identity. At the same time, NPM providers should place limits on the transaction amounts and frequency and as such should include strict systems of monitoring on these aspects. Along with this point, Simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases, and law enforcement against foreign providers with identification of secondary card holders should be applied (FATF Report 2010). As earlier on mentioned, CDD should be carried on the customers even if they are not in face to face contact. This can be accomplished by ensuring that the names of the customers are known, the location, country of origin, web data sources verified and as such customer contacts taken into consideration (Demetis 2010, p.64). One should also consider using financial transaction records of the particular customers from wherever the place in the world. For instance, moneybookers (Skrill) in its verification of identity, will ask for the name of the customer, verification of the identity through a scanned national identity card, address and location and they also ask for a utility bill, bank statement, passport or driving license, with which it is meant to verify one’s identification (Janczewski 2008). Obtaining such information may not be easy but it can be made possible by employing various agencies and expertise from around the world. This is due to the fact that customer base is worldwide and as such, national cultural understanding would be of paramount importance. Specific considerations NPM providers need to include in their AML system Therefore, the following considerations should be included in AML systems for a firm wishing to work as a NPM provider: The AML system should contain effective policies, procedures and processes while carrying out the identification and verification of the customers. It should as well contain protective measures such as personalized images next to password prompts in the case of internet based payment methods along with data encryption, antispam and antiphishing policies. Protective measures should as well be put in place within the web system and the computers themselves which contain personalized details and information in order to counter the hacking of computers. The AML system should as well ensure compliance with the legislative laws where applicable since some of the NPMs do not have clear provisions as far as compliance with the law is concerned Representatives from various parts of the world should be involved in the AML system in order to help in carrying out of CDD. This has the advantage of ensuring the right data sources are provided along with the verification of their authenticity (Rosenbloom 2002). AML system should involve a group of experts in human resource, IT (information technology) and experts with good knowledge of national culture just to mention a few (Rosenbloom 2002). This has the advantage of ensuring that the NPM provider operates competitively. The AML system should as well put flexible procedures in order to cope with the changing environmental factors since the legal framework for the operation of NPM providers is not well established. Risks involved in NPM business From a broader point of view, considerations that NPM providers need to include in their AML system range from law, human resources and various technologies among others as such. In this respect, it should be clear to NPM providers that engaging in NPM products calls for tight surveillance owing to its vulnerability to money laundering and the financing of terrorist activities. Again in this context, NPM providers should be careful with regards to how they carry out their CDD along with the whole operation of their AML systems. This is given to the reason that there are various risks associated with failure to carry out an effective Customer Due Diligence (Steiner Marini 2008). In particular, NPM providers, if caught in money laundering and/or financing of terrorist scandal, are faced with a considerable reputational risk. Following the globalization of businesses, global financial systems operate with clients from all over the world. In this context, it is important to note that if CDD measures are not appropriately applied, then, this gives an opportunity for various losses. As such, failure to conduct CDD can lead to a reputational risk which translates to adverse publicity as far as the practices of the business are concerned. Inaccurate application of CDD measures may in this case lead to a loss of public confidence and as a result, may jeopardise the integrity of the institution. Subsequently, borrowers, investors, depositors and other stakeholders may cease business with that institution should scandals arise (Booth et al. 2011). Apart from this point, AML system failure may lead to law suits whereby the particular NPM provider may be sued for facilitating money laundering. This is due to the fact that the institution has the obligation to conduct CDD and thus should be able to prove to any third party proof that every effort has been made to ensure CDD is carried out (Steiner Marini 2008). Similarly, if CDD were to fail, in such a case it would be advisable for the AML to close the account of that particular customer and as such to decline establishing a business relationship whilst ensuring that a suspicious transaction report is made. In view of that, any AML systems implemented should be in line with the law. At the same time, it should not leave gaps while carrying out Customer Due Diligence since this may result into operational risks (Booth et al. 2011). This has subsequent consequences of the suit by law and financial costs. A continued monitoring of the customers should be ensured and as such, this will help NPM providers to avoid cases of computer hacking, multiple accounts by the same Identity, fake identities, stolen identities and in the larger perspective this would prevent phishing of the customer accounts and information altogether. NPMs and the Law Notably, with an institution intending to make the use of NPMs, money laundering may be inevitable. NPMs are well known for their vulnerability to money laundering and terrorist financing. Use of ATMs, prepaid cards and mobile and internet banking has given a great opportunity for money launderers although there are some countermeasures that can prove viable. In this connection, one countermeasure may be the implementation of a robust identification and verification procedure (FATF Report 2010). Especially with the non-face-to-face typology, robust identification and verification would be of a supreme importance. In line with this point, limits on the transaction amounts and frequency should be monitored with strict systems of observation. In fact, not all NPMs are subject to law in all authority and as such, they take in the use of internet and mobile payment. Most of the NPM providers provide their products or services through both internet and mobile (i.e. virtual world) systems and the FATF recommendations do not specify the specific risks involved and as such, NPM providers may not apply the CDD measures (FATF Report 2010). In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced while carrying out transactions can help to carry out law enforcement. Importantly, a firm seeking to provide NPM as one of their services should consider the fact that there are three typologies depending on which one chooses to use. As such, the first typology has to do with the third party funding whereby cards can be funded through the bank, cash and person to person transfers (FATF Report 2010, p.36). Furthermore, there is the second typology which takes in the exploitation of the virtual nature (non- face-to-face) of the NPM accounts (FATF Report 2010, p.40). This typology has the highest potential by its ability to facilitate criminals in money launderings. On the other hand, if the firm chooses the third typology (complicit NPM providers or their employees) there is also a high risk as portrayed in findings made in the past of IPS and prepaid card providers who were controlled by criminals and as such promoting cases of laundering (FATF Report 2010, p.33). In order to better protect the firm and the customer, from the risks associated with the new payment methodologies, new laws and regulations should be implemented in order to regulate the NPMs operations. Again in this context, measures such as the implementation of anti-phishing measures should be put in place. As such, it should be provided by the law that if they are not implemented, law suits should be applied. Besides this point, antispam policies (softwares, hardware and processes) directed towards combating proliferation of spam or keeping spam from entering the system should be implemented (Moore 2010). Equally important, measures to protect computers with personal details should be protected from hacking. Accordingly, for non-face-to-face NPM accounts, there should be provisions in the law to ensure that firms comply and as such put in place measures to prevent the cases of hacking, phishing just to mention a few. In the same line of thought, if implemented, tight surveillance within the various websites present in the internet should be carried out and as such, it should be a provision of the law for every NPM provider to carry out such surveillance. This can be possible in a virtual world through representatives in various countries with expertise in both identification and verification of data sources (Rosenbloom 2002). Technologies such as firewall, encryption of data, limiting accessibility to customer data and the development and implementation of privacy policy are of paramount importance as measures for combating activities of money laundering and financing of terrorist activities (Rosenbloom 2002). With such measures in place, both the firm and the customer can be protected from the risks associated with the new payment methodologies. Currently, where the regulation of NPM service providers is active, law enforcement agencies, supervisors, and legislators, among others as such, are faced by various challenges some of which include simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases and law enforcement against foreign providers with the identification of secondary card holders among others as such. Therefore, the most important thing to do is to ensure that the requirement for implementation of AML systems for each NPM provider is set out in the law. At the same time, firms providing NPMs and the customers can be better protected if the regulatory authorities would set it out in the law that all NPM providers apply data encryption, anti-phishing, privacy and antispam policies and limitation of data accessibility. Conclusion The report has identified several considerations NPM providers need to include in their AML system in order to combat the abuse of the NPMs and counteract any potential risk to the firm. Non-face-to-face typology has been identified as one of the examples that is mostly utilized and as such the most vulnerable to abuse by money launderers and criminals. As such technologies such as data encryption, establishment of antispam, antiphishing and privacy policies have been identified as effective tools for combat. Limited data accessibility should be incorporated in order to ensure the protection of customer information and private details. In order to improve on regulation and guidance relating to NPMs and to better protect the firm and the customer from the risks associated with the new payment methodologies, measures directed to this effect should be set out in law. Again, identification and verification of data sources through representatives in various countries across the world in order to ensure the authenticity of various documents is an important tool and a consideration that NPM providers need to include in their AML system in order to combat the inherent money laundering vulnerabilities of the system. References Bidgoli, H 2006, Handbook of Information Security, Threats, Vulnerabilities, Prevention, Detection, and Management, John Wiley Sons, New Jersey Booth et al. 2011, Money Laundering Law and Regulation: A Practical Guide, Oxford University Press, New York. Demetis, DS 2010, Technology and Anti-Money Laundering: A Systems Theory and Risk-Based Approach, Edward Elgar Publishing, Massachusetts Fagan, GH Munck, R 2009, Globalization and Security: Social and cultural aspects. Introduction to volume 2, ABC-CLIO, California FATF Report 2010, Money Laundering Using New Payment Methods, Retrieved on 20th April, 2012 from http://www.fatf-gafi.org/dataoecd/4/56/46705859.pdf. Financial Action Task Force 2006, Report on new payment methods, Retrieved on 24th April, 2012 from http://www.fatfgafi.org/media/fatf/documents/reports/Report%20on%20New%20Payment%20Methods.pdf Janczewski, L 2008, Cyber Warfare and Cyber Terrorism, Idea Group Inc (IGI), Hersbey, PA. Marks et al. 2012, Middle Market M a: Handbook for Investment Banking and Business Consulting, John Wiley Sons, New Jersey Moore, T 2010 Economics of Information Security and Privacy, Springer, New York. Paulus, S, Pohlmann, N Reimer, H 2005, ISSE 2005: Securing Electronic Business Processes: Highlights of the Information Security Solutions Europe 2005 Conference, Springer, New York. Rosenbloom, AH 2002, Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances, John Wiley Sons, New Jersey. Steiner, H Marini, SL 2008, Independent Review for Banks – The Complete BSA/AML Audit Workbook, Lulu.com, North Carolina. Tabb, WK 2004 Economic Governance in the Age of Globalization, Columbia University Press, New York. How to cite Finance and Law: Money Laundering and New Payment Methods, Essay examples

Cloud Project Management in Sentosa

Question: Discuss about the Cloud Project Management in Sentosa. Answer: Project Risks Known Issues: Risk Impact Solutions Different market for local and foreign people. Medium 1. Two separate options will be given at the time of buying packages. 2. The tourists will be making bookings as per their need. 3. The foreigners will be receiving discount on packages of staying on the island. 4. The locals will receive discounts according to the amount of attractions they visit. 5. Terms and conditions will be applied to the discounts. 6. The amount of purchase of services will be stored in the cloud database against individual employees (Marosi, Kovacs and Kacsuk 2013). 7. Each of the counters can access the cloud database and apply discount as per the information. Difficulty in terms of navigation at Santosa High 1. The system will be consisting of a map which will provide the option of navigating the local areas. 2. Direct links will be provided to redirect to the most popular regions. 3. The cloud will store the name of the places that the user has checked in the cloud (Dinh et al. 2013). 4. The promotion will be done regarding the places that the user has not seen. 5. As the clod based database will hold all the data and provide it at any time, the information gathered from counter will be used to analyze the most checked places by individual user (Xu 2012). 6. Special maps of the distinct regions will be provided to the user through the system. Data harnessing High 1. Architects, system administrators and developers for both the Cassandra and Hadoop will be hired (Dede et al. 2013). 2. Data clusters will be developed, tested and integrated. 3. Genuine value can be gotten from top of the line investigation that can be performed on the expanding volumes, speed and assortment of information that associations are producing - likewise alluded to as large information examination. 4. The way that most fleets consolidate no less than two distinct brands of trucks can be utilized as an information advantage. With one dashboard, it's conceivable to stack the data of the distinctive sorts to think about their execution on the same course and discover which one is the most proficient. Highly competitive and price sensitive market. Medium 1. The entire business will be transformed to the internet. 2. The online information access characteristics will facilitate the business. 3. The cloud system will manage the database automatically (Chung, Jeon and Seo 2014). 4. As the cloud can provide the real time data to the end user, the management will get proper information of the market at all the time. 5. The real time and accurate information gathering will assist the management to predict the future market situations. Classification of attractions Low 1. The cloud system will be consisting of an option of selecting attractions separately at the time of booking. 2. As cloud system will decrease the cost of operations the charges on the attractions, owned by Sentosa will be minimized. 3. The system of the other attractions will be connected to the system of Sentosa. 4. Through cloud system the information of booking attractions will be transferred to every counter and other attraction owner. 5. Clash in booking will be reduced to almost zero percent through this information sharing. No connection between the ticketing system and membership database High 1. As all the databases will be associated with the cloud system, the databases will be lined with all the required units of the system. 2. The integration point of database with the cloud system will be managed very carefully. 3. The real-time information will be provided to the ticketing system so that the management can know the present record of the guests (Matthews et al. 2015). 4. The purchase points which are on Sentosa and on main land will be connected to each other through the centralized system. 5. Update of data occurred in any point will result into the update of the database. 6. Both the database will be separate and will be connected in the cloud database architecture. Play pass related issues Medium 1. The guests will receive will individual identity number. 2. The numbers will be different for foreigners and locals. 3. The cloud system will automatically divide the activities of the two types of guests (Rittinghouse and Ransome 2016). 4. The managers will receive information of the analysis instantly. 4. The same process will be carried out for distinguishing the activities of the Islander member. Ticketing database and database related issues High 1. As the database will be connected to the cloud and maintained by it any initiation of process will result in modification of database. 2. For eliminating the duplication issue, master data management will be incorporated in the cloud system (Heikkinen and Pekkola 2013). 3. To make sure that the transactions get completed every time the system will incorporate some protocols that will check the transaction process several times. Discounts Low 1. The system will store the id of the individual guests (Wang et al. 2012). 2. The same id will be used every time the users access the services of Sentosa. 3. Through this the total amount of access to the service by the user can be calculated. 4. The cloud will store all the information regarding this activity. No fresh model High 1. The systems will be developed in units and will be deployed in cloud. 2. The fresh unit will be integrated with the existing one at first then the whole unit will exchange with the previously deployed model. (Rittinghouse and Ransome 2016). 3. This process will be carried out until the system controls all the business aspects of Sentosa. Project Governance: Figure 1: Organizational Structure (Source: Sentosa.gov.sg, 2016) Meeting Structure: Person Responsibility Moses Lee Handling the overall activates and outcome of the project. LOW Tien Sio Supervising the projects partial aspects such as requirement providing. CHIN Sak Hin Estimating budget and profit from the project. Jacqueline TAN Yi-Ping Supervising the property related requirement to the project. Theresa LOW Bounding the scope of the project so that overflow of the allowed fund does not happen. EU Kwang Chin Supervising the functionality and the efficiency of the system. LEE Siyou Kim Maintaining the activities of the system. Catherine CHEW, Suzanne HO, Andy JOHNSTON Providing the basic functional requirements of the system. Progress Tracking: The individual employee of the project will be responsible for documenting their work on daily basis and their progress report will be shared to the project manager. The project leader will send the complete development of every day to the owner of the project (Chomal and Saini 2013). The functionalities of the system are shared with the marketing and sales department. Tracking Activity Suggested frequency Automated tools Remarks Modified project landmark schedule Monthly MS project 1.task completion date 2. GANTT chart 3. chart of the previous month. Modified worked product recognition Monthly Automated project database Updates to the database manager. Modified estimates at the end Bi-weekly MS project Integrate project cost to date Modified details of the financial position Quarterly MS word 1. Labor hours expended vs. labor hours awarded. 2. Dollars expended vs. dollars awarded Modified staffing outline Monthly MS Project Modified resource loading Monthly Excel Validate requirement in terms of resource. Modified risk identification As needed 1. MS word 2. Automated project database. Modified risk matrix Modified work packages As needed 1. MS word 2. Automated project database. 1. Modified control list regarding details. 2. Contact update. Modified project need As needed 1. MS word 2. Automated project database. As per the discussion in the planning phase. Table 1: Project Monitoring Matrix (Source: Kim et al. 2013) Risk and Issue management: Risk Event Probability (1=highest) Impact Risk Score Mitigation Plan Different market for local and foreign people. 1 Medium High The integration of listing such as foreigner and local in the website. Difficulty in terms of navigation at Santosa 1 High High The integration of map of Santosa. Data harnessing 4 High Medium Hiring administrators and specialists. Highly competitive and price sensitive market. 2 Medium Transformation of business into internet. Classification of attractions 1 Low Medium Selection of attractions at the time of booking. No connection between the ticketing system and membership database 3 High High Connecting the database with the centralized cloud system. Play pass related issues 4 Medium Low Providing unique identity numbers at the fist time of registering. Ticketing database and database related issues 2 High High Integration of master data management technique. Discounts 4 Low Low The use of same identity number for individual client. No fresh model 2 High High Implementation of the system in units and integrating the distinct units. References: Chomal, V.S. and Saini, D.J.R., 2013. Finding Trend of Both Frequency and Type of Errors from Software Project Documentation.International Journal of Emerging Trends Technology in Computer Science (IJETTCS),2(5). Chung, B.D., Jeon, H. and Seo, K.K., 2014. A framework of cloud service quality evaluation system-focusing on security quality evaluation.International Journal of Software Engineering and its Applications,8(4), pp.41-46. Dede, E., Sendir, B., Kuzlu, P., Hartog, J. and Govindaraju, M., 2013. An Evaluation of Cassandra for Hadoop.IEEE CLOUD,2013, pp.494-501. Dinh, H.T., Lee, C., Niyato, D. and Wang, P., 2013. A survey of mobile cloud computing: architecture, applications, and approaches.Wireless communications and mobile computing,13(18), pp.1587-1611. Kim, M., Cui, Y., Han, S. and Lee, H., 2013. Towards efficient design and implementation of a Hadoop-based distributed video transcoding system in cloud computing environment.International Journal of Multimedia and Ubiquitous Engineering,8(2), pp.213-224. Marosi, A., Kovacs, J. and Kacsuk, P., 2013. Towards a volunteer cloud system.Future Generation Computer Systems,29(6), pp.1442-1451. Matthews, J., Love, P.E., Heinemann, S., Chandler, R., Rumsey, C. and Olatunj, O., 2015. Real time progress management: Re-engineering processes for cloud-based BIM in construction.Automation in Construction,58, pp.38-47. Rittinghouse, J.W. and Ransome, J.F., 2016.Cloud computing: implementation, management, and security. CRC press. Sentosa.gov.sg. (2016).Board Senior Management : Sentosa Development Corporation. [online] Available at: https://www.sentosa.gov.sg/about-us/board-set/ [Accessed 9 Aug. 2016]. Vilminko-Heikkinen, R. and Pekkola, S., 2013. Establishing an organization's master data management function: a stepwise approach. InSystem Sciences (HICSS), 2013 46th Hawaii International Conference on(pp. 4719-4728). IEEE. Wang, C., Wang, Q., Ren, K., Cao, N. and Lou, W., 2012. Toward secure and dependable storage services in cloud computing.IEEE transactions on Services Computing,5(2), pp.220-232. Xu, X., 2012. From cloud computing to cloud manufacturing.Robotics and computer-integrated manufacturing,28(1), pp.75-86.

Oil and Natural Gas Industry and Its Effect on the Economy

Eisenhower Doctrine Definition and Analysis

Eisenhower Doctrine Definition and Analysis The Eisenhower Doctrine was an official expression of U.S. foreign policy delivered to a joint session of Congress by President Dwight D. Eisenhower on January 5, 1957. Eisenhower’s proposal called for a more proactive economic and military role on the part of the United States in the increasingly tense situation threatening peace in the Middle East at the time. Under the Eisenhower Doctrine, any Middle Eastern country being threatened by armed aggression from any other country could request and receive economic assistance and/or military assistance from the United States. In a â€Å"Special Message to the Congress on the Situation in the Middle East,† Eisenhower tacitly pointed to the Soviet Union as the most likely aggressor in the Middle East by promising the commitment of U.S. forces â€Å"to secure and protect the territorial integrity and political independence of such nations, requesting such aid against overt armed aggression from any nation controlled by international communism.† Key Takeaways: Eisenhower Doctrine Adopted in 1957, the Eisenhower Doctrine was a key aspect of U.S. foreign policy under the administration of President Dwight D. Eisenhower.The Eisenhower Doctrine promised U.S. economic and military combat assistance to any Middle Eastern country facing armed aggression.The intent of the Eisenhower Doctrine was to prevent the Soviet Union from spreading communism throughout the Middle East.   Background The rapid deterioration of stability in the Middle East during 1956 greatly concerned the Eisenhower administration. In July 1956, as Egypt’s anti-Western leader Gamal Nasser established ever-closer ties to the Soviet Union, both the U.S. and the United Kingdom cut off their support for the construction of the Aswan High Dam on the Nile River. In response, Egypt, aided by the Soviet Union, seized and nationalized the Suez Canal intending to use ship passage fees to fund the dam. In October 1956, armed forces of Israel, Britain, and France invaded Egypt and pushed toward the Suez Canal. When the Soviet Union threatened to join the conflict in support of Nasser, its already delicate relationship with the United States crumbled. Israeli Tanks Occupy Gaza During Suez Canal Crisis of 1956. Hulton Archive / Getty Images Though Israel, Britain, and France had withdrawn their troops by early 1957, the Suez Crisis left the Middle East dangerously fragmented. Regarding the crisis as a major escalation of the Cold War on the part of the Soviet Union, Eisenhower feared the Middle East could fall victim to the spread of communism. In the summer of 1958, the Eisenhower Doctrine was tested when civil strife- rather than Soviet aggression- in Lebanon drove Lebanese president Camille Chamoun to request U.S. assistance. Under the terms of the Eisenhower Doctrine, nearly 15,000 U.S. troops were sent to put down the disturbances. With its actions in Lebanon, the U.S. confirmed its long-term commitment to protecting its interests in the Middle East. Eisenhower Foreign Policy President Eisenhower brought what he called a â€Å"New Look† to U.S. foreign policy, emphasizing the need to respond to the spread of communism. In that context, Eisenhower’s foreign policy was greatly influenced by his staunch anti-communist Secretary of State John Foster Dulles. To Dulles, all nations were either part of the â€Å"Free World† or part of the communist Soviet bloc; there was no middle-ground. Believing that political efforts alone would not stop Soviet expansion, Eisenhower and Dulles adopted a policy known as Massive Retaliation, a scenario in which the U.S would be prepared to use atomic weapons if it or any of its allies were attacked.  Ã‚   Along with the threat of communist expansion in the region, Eisenhower knew the Middle East held a large percentage of the world’s oil reserves, which were badly needed by the U.S. and its allies. During the 1956 Suez Crisis, Eisenhower had objected to the actions of U.S. allies- Britain and France, thus establishing the U.S. as the lone western military power in the Middle East. This position meant that America’s oil security was more at risk should the Soviet Union succeed in imposing its political will in the region.   Impact and Legacy of the Eisenhower Doctrine The Eisenhower Doctrine’s promise of U.S. military intervention in the Middle East was not universally embraced. Both Egypt and Syria, supported by the Soviet Union, strongly objected to it. Most of the Arab nations- fearing Israeli â€Å"Zionist imperialism† more than Soviet communism- were at best skeptical of the Eisenhower Doctrine. Egypt continued to accept money and arms from the U.S. until the Six-Day War in 1967. In practice, the Eisenhower Doctrine simply continued the existing U.S. commitment of military support for Greece and Turkey pledged by the Truman Doctrine of 1947. In the United States, some newspapers objected to the Eisenhower Doctrine, arguing that the cost and the extent of American involvement were left open-ended and vague. While the doctrine itself did not mention any specific funding, Eisenhower told Congress he would seek $200 million (about $1.8 billion in 2019 dollars) for economic and military aid in both 1958 and 1959. Eisenhower contended that his proposal was the only way to address the â€Å"power-hungry communists.† Congress voted overwhelmingly to adopt the Eisenhower Doctrine. In the long run, the Eisenhower Doctrine failed to succeed in containing communism. Indeed, the foreign policies of future presidents Kennedy, Johnson, Nixon, Carter, and Reagan all embodied similar doctrines. It was not until December 1991 that the Reagan Doctrine, combined with economic and political unrest within the Soviet bloc itself, brought the dissolution of the Soviet Union and the end of the Cold War. Sources The Eisenhower Doctrine, 1957. U.S. Department of State, Office of the Historian.Foreign Policy Under President Eisenhower. U.S. Department of State, Office of the Historian.Elghossain, Anthony. When the Marines Came to Lebanon. The New Republic (July 25, 2018).Hahn, Peter L. (2006). Securing the Middle East: The Eisenhower Doctrine of 1957. Presidential Studies Quarterly.Pach, Chester J., Jr. Dwight D. Eisenhower: Foreign Affairs. University of Virginia, Miller Center.

Avoidance of Information Technology Project Failure Essay

Avoidance of Information Technology Project Failure - Essay Example Reasons for the project failures and their sufficient deeds for its avoidance are kept in focus while discussions and consultations with project managers and other resources like books and Internet. Â  Being an IT student, keeping only objectives in hand don’t completes my traits. Though it is the world of proofs and proving objectives with the presentations and documentation. Every deliverable clutches some fundamentals of this project. Deliverables until the end of the project will be as per defined: Â  This is the first deliverable that embraces the contents of Information Technology. What is Information Technology? When is it started? Since then how it is improved? What is the status of Information Technology nowadays? What kinds of projects and their importance in the real world? Etc. This document is a small thesis on Information Technology with a little introduction to the real topic. This deliverable accomplishes first three above-mentioned objectives of the project. Â  A sample of professionals is gathered to have a little talk on the topic. Few famous and well-known software houses are being listed. Moreover, to reach these software houses and contact the entire professionals, references are gathered. This list along with the professional names holds their contacts, their references, and a name of people they are referred by. Reason to make them our samples. This deliverable, strengths of our project research and help in the accomplishment of our forth above mentioned objective. Â  This deliverable is a complete document carrying related questions focusing the topic and finding what may be the reasons or strategies to avoid projects to be failed. This deliverable is submitted to get the approval from the supervisor for proceedings. The questionnaire holds both close-ended and open-ended questions related to their experience and professionalism. Â  

Coal impact on the environment Essay Example | Topics and Well Written Essays - 750 words

Coal impact on the environment - Essay Example They tend to have an effect on the air, water as well as the animals. It also harms the health of the human beings (Finkelman et al 1999; Hill 2010). The burning of coal results in the production of many chemical substances which mainly include carbon dioxide, sulphur dioxide and nitric oxide. Coal also does not undergo complete combustion and ash is a substance which remains after the combustion of coal. Carbon dioxide is a greenhouse gas and it is released in very high amounts by the burning of coal. This increase in the amount of carbon dioxide in the air results in increasing the temperature of the world and promotes the phenomenon of global warming. Sulphur dioxide is also a harmful gas and results in the formation of acid rain. Nitric oxide is also a toxic gas which can result in the formation of an even more unstable substance known as toxic and at the same time nitric oxide also has the capability of causing acid rain (International Labour Office et al 1994). The quantity of ash that is released during the process of mining and burning is extensively high. It has been analyzed in the United States on an annual basis approximately 100 million tons of ash is produced due to the combustion of almost one billion ton of coal. Forty percent of the ash can be reutilized for forming other products which include cement but a large proportion still remains. The ash has a tendency to accumulate on land as well as it can make its way towards the water reservoirs and contaminate them by forming acids and follow the process of further addition of metals. Ash is disposed off in areas under the land and it is also kept in ‘ponds’ so that it can stay moistened. If proper regulations are not undertaken underground ash can also enter the underground water. Ponds also need to be checked and regulated because an incident occurred in the year 2008 when there was a spillage of the moistened coal and it resulted in contaminating the water in the river and a group of Tennessee individuals (Hill 2010; Mackenzie et al 2005). The mining of coal also results in the production of radioactive substances; though the quantity of the released substances is not very high. It has been analyzed that the population residing near the coal plants receive a higher rate of contact with these radiations than do the people who reside near nuclear power plants. This is because of the fact that the regulations at the nuclear power plants are strict and hence they minimize the release of radiations into the atmosphere (Hill 2010). The procedure of the mining of coal also carries many environmental affects. The mining which takes place on the surface as well as underground mines result in the contact of the rocks which are made up of sulphur to air and oxygen. This results in the formation of sulphur dioxide. This acid further tends to worsen the effect by acting on the rocks and causing them to release metals. The acid plus the metals gain ways to the water reserv oirs. This results in contaminating the water reservoirs and it harms the life that exists in water. It is found to be harmful not only for the microorganisms in the water but it also results in the death of fishes. These contaminated substances also tend to impact the land as well (Hill 2010; Mackenzie et al 2005). The burning of coal can also result in many harmful effects on the health of the human beings. ‘Black Lung Disease’

Marketing and Strategic Analysis of Virgin Active

Marketing and Strategic Analysis of Virgin Active 1. Introduction The UK has had an overwhelming increase in the leisure industry market involving gymnasiums. This report will include a strategic review of Virgin Active and also evaluate the challenges and opportunities faced by Virgin Active. The topics, included in this report will be: description of the organisation, comprehensive strategic analysis (detailed analysis of internal scan, environmental scan and core competencies), a SWOT analysis of Virgin Active and challenges faced by the organisation. Furthermore, alternative strategic options and managing change will also be discussed. Strategic management is important for all organisations, with out regards to their size or position in the market. The definition strategic management has not been agreed, however, the outcome of defining strategic management is similar. Armstrong (2002, p. 38) suggests strategic management is, that managers are looking ahead at what they need to achieve in the middle or relatively distant future. Also, Constable (1980) suggests strategic management as the management process and decisions that determine the long-term structure and activities of the organization (Thompson, 1993, p. 6). Both definitions focus on the importance of decisions to be taken for the future, by managers, so that the organisation is sustainable. This report will analyse the effectiveness of Virgin Actives strategies and also, strategies they can initiate. 2. Virgin Active 2.1 The Business Virgin was founded by Sir Richard Branson in 1970 and is one of the most well known brands in Britain. Their portfolio is diverse and ranges across from market to market such as trains, soft drinks, publishing, cosmetics, holidays, mobile phones, extreme sports, music, space tourism and the finance industry. (Appendix 1) The organisation has over 200 companies globally, and has approximately 50,000 employees. The total for Virgin in 2008, exceeded  £10 billion (Virgin, 2009) Sir Richard Branson (1990) was anxious to build the best, state-of-the-art club on the market, providing genuine value for it customers, in first class surroundings. Hence in 1999, Virgin opened their first gymnasium. Customers were attracted to the facilities and high level of customer service, and demand has grown steadily over the years. There is now 167 gyms and, approximately 900,000 members worldwide (Virgin Active, 2009). Despite Virgin Actives success, like all other organisations, they have competitors. Virgin Actives main competitors are Living Well and Fitness First, who are also globally known and placed. 3. Strategic Analysis 3.1 Internal scan The brand name Virgin, is a very valuable asset for Virgin Actives. Richard Branson (2002) said; In our customers eyes, Virgin stands for value for money, quality, innovation, fun and a sense of competitive challengeà ¢Ã¢â€š ¬Ã‚ ¦ We often move to areas where the customer has traditionally received a poor deal, and where the competition is complacentà ¢Ã¢â€š ¬Ã‚ ¦ We also look to deliver old products and services in new ways. The brand name Virgin is extremely well known throughout the UK. A brand name is an indication of what to expect from a product a quality statement of a value-for-money signal (Hollensen, 2006). The most successful move Virgin Active have made so far, is the  £20 million invested, for a major refurbishment and upgrade programme. Despite these strengths, these can become weaknesses of the organisation. Frequently companies can become overly convinced with their brand name, and start putting less attempts in developing the business. Thus, the organisation is under threat of not developing, or being able to sustain gloomy days in the future. The development in staff can also decline. Although  £20 million was invested by Virgin, none of it was spent on employees. And so, a opportunity for Virgin is to invest more time and finances on staff training. Leaders in the UK often lack dedicated attention from their supervisors to help develop in a planned fashion through continuous learning, both from job experience and more formal training activities (Addison, 2006, p380). It is important to have up-to-date staff development and training, as technology and the environment is constantly changing. If employees performance is weak, then the main priorities and strategies of the organisation become weak. 3.2 Environmental scan External environment must be taken in to consideration, when developing a organisations strategies. The environmental analysis determines the organisations opportunities and threats. Thompson (1993, p. 246) said, managers should always be attentive to changes and their decisions and actions should be both reactive and proactive as appropriate (Appendix 2). Thompson is defining the significance of managers adapting to different strategies depending on the environmental changes. The social environmental issues in the gymnasium market, is always changing and plays a crucial rule on deciding strategies. Virgin Active have forecasted expectancy growth, so they have a special discount for elderly people (55 years old plus). These grey consumers are relatively rich. The over-fifties own around three-quarters of the worlds financial assets and control half of the discretionary budget (Hollenson 2006, p. 48). Yet, there is also many elderly who are financially restricted due to the increase i n utility bills, and were unfortunate to have no savings. This is why Virgins strategy of decreasing prices for the elderly has been effective and also, as the elderly have started becoming more fit in this day and age, it has also had a positive outcome. Additionally, the smoking ban in Britain, showed signs of a healthier Britain. Also, due to many campaigns and advertisements issuing obesity and illnesses, the majority of the public have become self aware of health issues. Due to Hollywood/Bollywood and the general media, people are also becoming self conscious about their appearance. The stereotypical students have also changed theyre appearance, from the well known drinking, junk food eating, smoking danger zones to a more healthy-living lifestyle, recent surveys show. About one in four students is now teetotal, says National Union of Student Services and among the rest of the student population there is a growing appetite for exercise facilities and healthy eating (Coughlan, 2006). Technology is ever changing, hence why Virgin Active spent  £20 million to update their systems and keep up-to-date with modern technology. Taking these aspects into consideration is vital whiles planning strategies. According to the environment, changes in strategies should also be taken into consideration. 3.3 Purpose, objectives and strategy When developing an organisations purpose, it should take into consideration why do they exist, whom will they serve and how its value will be increased. It is vital to consider the organisations future challenges and opportunities. According to Lynch (2006,p. 340), there is three sections that help build the purpose of the organisation and should be examined at an early stage. The purpose of a organisation: shaped by vision, leadership and ethics Virgin Actives vision is to promote wellness by bringing positive change in youre life (Virgin Active, 2008). This vision shows that it is going beyond its current climate, which is achieving sufficient revenue. Leadership in an organisation is crucial as the directors choices and the social responsibilities policies influence the purpose they define. Virgin Active is run by an independent board and is mostly shareholder owned. The Executive Director, Mathew Bucknall, has combined industry experience and who also developed Virgin Active by overtaking Holmes Place, an established, popular gymnasium in the UK (Murray, 2006). This shows that the business is run by specialists who have great expertise in their field. Meaning, taking these elements in to account the objectives of the organisation is to expand their gyms by promoting health and wellness. Virgin Actives mission statement (Appendix 3) , shows that their goal is to be known around the world as a fun unique gym, available to everyone, who is offered, regardless of age or body size. Also, their goal is to expand their business in Europe within in the next three years (Virgin Active, 2008) . Also, without a capable strategy, Virgin would not have been able to become globally known (e.g. South Afica). Strategies used by Virgin Active in order to expand and also become available to all ages where: By offering different memberships to customers with various needs, E.g. offering 2 month old babies to 15 year olds a class called Club-V. Virgin Active recently invested  £20 million throughout their clubs to up-date workout machines and for refurbishment. They also took over Holmes Place, gaining all their current locations throughout Britain, tremendously helping their goals for expansion. 3.4 Core competencies A core competency makes the company different from others. Hamel and Prahalad (1990) said, core competency has three issues; it provides customer benefit, it is hard for competitors to imitate and it can be leveraged widely to many products and markets. Virgin Actives core competency would be their brand name. As mentioned before, their brand name is what makes them stand out from other gymnasiums and is generally what customers would pay extra for. Virgin Actives competitors can not take away the well known reputation that the name Virgin holds, for example, respected and trustworthy. However, the smaller gyms such as LA Fitness also have a selling unique selling point (core competency). LA Fitness are very well known for their as their personal trainers are highly qualified and highly skilled in getting the results the customer wants. This shows that all organisations have their unique selling point, which should be sustained by effective strategies. 4 SWOT Analysis 4.1 Strengths Virgin Actives most crucial strength is there successful brand name and also their strong management skills. Every venture Virgin has taken part in, it prioritises its consumers needs and wants. Virgin is an organisation that is market-driven. Market-driven organisations focus on the consumers concern throughout the company. All departments recognize the importance of the customer to the success of the business (Jobber 2004, pp. 8-8). Virgin has an exceptional reputation throughout Britain. A brand name is an indication of what to expect from a product a quality statement of a value-for-money signal (Hollensen Svend, 2006). The managing director, Mathew Bucknall invested the  £20 million for refurbishment and upgrades. This was a powerful strategy for Virgins present and future. Virgin Active accommodate all ages by providing different memberships; with special classes for the elderly to special classes for children Club V (Special child care fitness for children and entertainment) Allowing parents work out freely. Other gymnasiums do not offer this, including Fitness First. Due to the acquisition of Holmes Place, Virgin Active has gained central locations for its gyms, increasing the reputation and accessibility to the consumers. 4.2 Weaknesses Virgin Active do not reduce their price and also sale volumes are limited as the gymnasiums can become overcrowded. Virgin Active depend on the brand name, too much. Fitness First and Living Well are two large competitors The club has increased their fee, for a normal member, from  £45 in 2005 to  £61 in 2007. This is due to the refurbishment, however, no member was given a news letter. Members were given a small letter Members are not informed in the correct method about changes, as fees increased from  £45 to  £61 from 2005 to 2007 (due to refurbishment) and members were given a small letter, not a sincere letter or a newsletter. 4.3 Opportunities Although Virgin Active give discounts to the elderly, can take more advantage of the increasing grey population by having special classes, helping the elderly and making things easy for them. Virgin Actives current opening times are 6:00 am to 10:30 pm, Monday to Friday, but as many people find it hard to go to the gym in these times e.g. taxi drivers, bus drivers, restaurant workers, bar staff etc, the gym should have a couple of late night openings available for consumers that cant attend before 10:30pm. 4.4 Threats The gymnasium may have to invest in new services, as with a rising life expectancy, the elderly that are members me not stay satisfied with the current service. A decrease in an active population is also a threat. Fitness first, one of Virgin Actives competitors has given women a specialised section for weight training, this could become a threat in the long term as women may enjoy the privacy. small percentage would pluck up the courage to enter the male dominated free-weights area (Kiernainder, 2006). 5 Strategic Challenges One weakness from the SWAT analysis affecting the way Virgin Active operates is its two main competitors, Fitness First and Living Well. These competitors can have a direct impact on Virgin Active, in many ways, such as both competitors have branches world wide. A issue that is confronting Virgin Active, is that of Fitness First. Fitness First has recognised that 54% of customers going to the gym are women, thus giving them more priority. The organisation have decided to give a free-weights section, dedicated just to woman. small percentage would pluck up the courage to enter the male dominated free-weights area (Kiernainder, 2006). Also, they have health clubs run by women, for women (Fitness First, 2008). This has proved to be a success, and Virgin Active should consider to implement afew changes, to make sure they are reaching their goal, of a business that evolves around the consumer. It is important that a organisation is doing the best it can, so that customers truly believe th ey have made a good choice by joining. Living Well is also a globally known gymnasium, but, they do not offer anything special except from one day free passes which Virgin Active and Fitness First do not offer. Fitness First offer a free day pass, but afterwards, the customer must pay for their memberships. Virgin Active does not offer neither. The membership for Fitness First and Living well are relatively cheaper than Virgin Active. Virgin Active do not invest in training staff, hence customers could leave, due to bad customer service. See Appendix 4 6. Strategic options and choice Virgin is a global brand. Meaning, Virgin Actives strategy should be based upon expanding the business and developing the numbers of members. This form of strategy option is defined as the expansion option. The model (See Appendix 5) identifies the essential characteristics of this strategy option. Strategies must remain sustainable, for Virgin to continue with its expansion. As mentioned before, their goal is to open more clubs in Europe, they are already globally operated and have also recently acquired Holmes Place. Yet, there is more strategies that Virgin can consider without major costs included. As the grey population is rising, the organisation can take advantage of this and provide special classes, made for the elder. This would make it less complicated, easier, and user friendly for the elderly. In addition, Virgin Active could start opening later hours a couple of days a week, as this would differentiate them from there competitors and increase customers as the very few gy ms that are open till late, are reasonably busy. This would be a good strategy option for customers who currently cant make it to the gym, due to work. Another, relatively low cost strategy, would be to cater for woman. As Fitness First have already started a exclusive section for woman only, this would be a good choice to make Virgin Active diverse and would give them a unique selling point over most competitors. These are fairly low cost strategies that would bring more customers, meaning expanding the company. 7. Management of implications and uncertainty Every business should implement their strategies, in other words put them into practise The prime aim in implementing strategy is to deliver the mission and objectives of the organisation (Lynch, 2006, p. 610). Taking uncertainty into account is important when undertaking strategies. Driskill and Goldstein (1986) defines uncertainty as the perceived lack of information, knowledge, beliefs and feelings necessary for accomplishing organizational tasks (Palenchar and Robert, 2007, p. 126). The uncertainty table (Appendix 6) defines the two types of uncertainty as fuzziness and ambiguity. Fuzziness is present when definitive, sharp, clear or crisp distinctions are not made ( Emblemsvag and Endre, 2002, p. 844). Ambiguity is present when there is a inconsistency in deciding among different alternatives or a couple or more alternatives have been left unspecified. Virgin Active has ambiguity uncertainty, because there is uncertain issues the might deal with, such as customers may want to st art exercising outdoors rather than indoors or the more elderly may want to join the gym. Another threat could be, people becoming more green or because of nowadays easy lifestyle people may become lazy or obese, having a knock on affect on memberships. Managers maybe making the correct decisions, but staff who execute these strategies might not be doing it in the correct way. This could lead to deficiency. Managers must be ready and aware for changes that could take place, and should try utmost to apply correct strategies depending on the current issue taking place. An example of this could be, that there is no certainty that people will feel the same, as they could go towards being green. There are already fifty Green Gyms operating in the UK (Valle, 2007). Green Gyms are allowing people to exercise in the outdoors, without destroying the environment. Green Gyms are targeting people who want to make new friends, loose weight, and improve the environment. Research shows that, because the activities they undertake are not repetitive and aimless like other types of physical training, Green Gym participants tend to become more active in their daily life (ibid). To tackle this uncertainty, Virgin Active could have some outdoor classes, instead of indoor. The outdoor classes could be yoga or jogs in a remote park. And if it becomes popular, Virgin Active could advance more outdoor activities. The process of implementing a strategic change and doing it in such a way that it lasts, is evidence of the close relationship between an organisations personnel and any external specialists concerned. (Sadler.1993) Virgin Actives main purpose was to expand their club by promoting wellness. Virgin Active have implemented their objective, which is open to everyone, without age or build being a problem. The strategies the club achieved were; The Club-V for infants, discounted memberships for the elder, the acquisition of Holmes Place and spending  £20 million for improvement to the gymnasiums. The Virgin brand name, is definitely a asset to Virgin Active. Although the brand name is a strength, it can also become a weakness as some businesss become to proud of the brand name and forget to put effort into the organisation. There is also none indications of staff development. Invested my management, was  £20 million but none of the finances were spent on staff. Uncertainty can also impact on the strategies being planned. Thats why scenario planning were suggested so Virgin has an idea of issues which may occur in the future or impact current strategies. This is very useful as it produces problems and solutions. For any business to be successful, it is vital that they are ready for change and that correct planning has taken place to ensure the success of which ever strategies are chosen. 8. Appendices Appendix 1 1968 First issue of student magazine 1970 Start of Virgin Mail Order operation 1971 First Virgin record shop opens in Oxford Street, London 1972 First Virgin Recording Studio opens at The Manor near Oxford 1973 Launch of Virgin Record Label. Virgin Music Publishing is established 1977 Virgin Records signs the Sex Pistols 1984 Virgin Atlantic Airways and Virgin Cargo are born 1985 Virgin Holidays is formed 1987 Virgin Records America is founded. 1988 Virgin Megastores opens new stores. Virgin Hotels launches. 1990 Virgin Megastores arrives in Japan 1991 Virgin Publishing (Virgin Books) is formed 1992 Virgin Records is sold to Thorn EMI 1993 Virgin Radio hits the airwaves with Virgin 1215AM 1994 Launch of Virgin Vodka and Virgin Cola 1995 Virgin Direct Personal Financial Services opens for business. 1996 V2 Music is created. Virgin.Net launches. Virgin Trains is launched. 1997 Virgin Radio is acquired by Chris Evans. Virgin Cosmetics launches 1999 Virgin Mobile launches Virgins first telecomms venture. 2000 V.shop, Virgin cars, Virgin Wines and Virgin Travelstore all launch 2001 Virgin Money brand is created. Virgin Experience launches 2002 Virgin Money introduces the Virgin Credit card. Virgin Mobile in the USA. 2003 V.Shops merges completely with Virgin Megastores 2004 Virgin announces the launch of Virgin Galactic developing space tourism for everybody 2005 Virgin Mobile launches in Canada 2006 Two new businesses in South Africa Mobile and Money http://www.virgin.com/aboutvirgin/allaboutvirgin/thewholestory/default.asp Appendix 2 Definition of reactive and proactive outcomes Reactive outcomes. The environmental analysis will highlight important strategic changes over which the organisation has no control but to which, if they happen, it will need to be able to react. Proactive outcomes. The environmental analysis will identify positive opportunities or negative threats. Then, the organisation will have to develop a proactive strategy to deal with the situation. (Ref: Lynch, 2006, p. 79) Appendix 3 Virgin Active mission statement: To challenge the norm, shake up the fitness industry, and restore average gym offerings with the revolutionary concept of a life centre.   Our huge all-encompassing facilities deliver innovative solutions for health and wellness, while providing excellent value for money. Accessible to everyone; young, old, big, small, Virgin Active is a place where individuals can uncover their personal potential and have fun in the process! (Virgin Active, 2008) Appendix 4 1 Members who left due to bad customer service. 2 Members who left due to other reasons. Appendix 5 Expansion method matrix Company Inside Outside Internal development Exporting Overseas office Overseas manufacture Multinational operation Global operation Merger Acquisition Joint Venture Alliances Franchises Merger Acquisition Joint venture Alliances Franchise Turnkey Licensing Home Country Internati-onal (Ref: Lynch, 2006, p. 467) Appendix 6 Management of implications and uncertainty Uncertainty Fuzziness The lack of definite or sharp distinctions Vagueness Cloudiness Haziness Unclearness Indistinctiveness Ambiguity One-to-many relationships Discord Disagreement in choosing among several alternatives Dissonance Incongruity Haziness Conflict No specificity Two or more alternatives are left unspecified Variety Geniality Diversity Imprecision (Ref: Klir and Yuan, 1995)

PBGC Company Profile Essay

PBGC is an abbreviation of a Pension Benefit Guaranty Corporation. The purpose of this federal corporation is to protect American’s pension. Its mission is related to protection: Forty four million American workers retirement income is currently being protected in more than 30000 benefit pension plans of private single-employer and multiemployer. Its formation is the result of an act of 1974 by the name Employee Retirement Income Security Act. It has the following objectives: First It helps private-sector define benefit pension plans to be continued and remain well maintained. Second is to provide pension benefits payment time to time, without any interruption. Its third objective is to keep minimum pension insurance premiums. The defined benefit pension plan gives pension on a monthly basis to the retirees but the pension amount is depended upon the salary and the year of services the retirees have rendered. The corporation does not only give monthly payments to retirees up to the guaranteed maximum but also the multiemployer plans participants and one who have not retired yet get financial assistance from it. General Tax Revenues don’t give any kind of fund to this corporation. Insurance premiums financed the operations of this federal corporation which was being set by Congress. Insurance premium is being paid by the sponsors defined for each benefit plan that are basically employers. The recoveries are being made from the companies which would be responsible for the plans in the past. Earnings come from investments for this corporation. According to the plan ended in 2008, workers will get $4,312. 50 monthly when they will get retire at the age of 65. It serves the range of customer’s e. g. general public, media and so on. Board of directors including the Secretaries of Labor (Chair), Commerce and the Treasury guided the operations of PBGC. The two highest priorities of this administration is to reform the defined benefit pension system and bring improvement in retirement security. It contributed in the development of Pension Protection Act of 2006. Since PBGC has worked over the last 33 years for the protection plan of participant’s interests and also to support private pension system’s growth; millions of American workers can now think about secured retirement along with their families. Both the benefit plan and the guarantee by PBGC have made a difference in the lives of the diligent Americans. Annually about $4 million is being given by this corporation to 44 million Americans. The development of the 2006 act not only improved the status of funding of many defined benefit plans but also pension system is being strengthened. Competitive advantage: The corporation has been very effective throughout in managing change over the past few years,’ pension insurance programs have faced many unexpected challenges. The corporation also won an award of managing its work force superbly in this changing business environment. The executive director said: â€Å"We are pleased to be recognized for having the right people, processes and systems in place to manage a doubling of our customer base with no diminution in the quality of our customer service. † (www. pbgc. gov,2008). It was being a first federal agency which got the full certification for its executive evaluation system. It got plenty of awards presented in magazines. These are as under: General Excellence, Service, Competitive Advantage, Global Outlook, Innovation, Managing Change, Financial Impact, Partnership, Ethical Practice and Vision. Weaknesses of PBGC: Weaknesses of PBGC’s certification and accreditation (C&A): This would impact the accuracy and completion of information which would affect the credibility of the corporation. It also affects the capability of the corporation to take and manage risks. It compromises agency’s personnel and assets too. There should be an effective C&A system to assure security of assets, personnel and operations and that could assure that the corporation is capable enough to meet its functional requirements. The National Institute of Standards and Technology Special Publication 800-37, Accreditation of Federal Information Systems and Guide for the Security Certification provides the framework under 2002 act named as the Federal Information Security Management Act, Public Law 107-347, for how C&A program of this corporation should be implemented. Inadequate security policy and plan: The security policy and plan of the current information of PBGC are not according to the guidance provided by National Institute of Standards and Technology Special (NIST) under Federal Information Security Management Act. NIST has developed guidance and standards. It also includes minimum requirement to provide sufficient security of information for all agency assets and operations Change in organizational structure: In 2006 the reorganization of the OIT i. e. ffice of information technology had badly affected the Information System Security Officer’s ability to ensure appropriate operational security for PBGC’s information system. It affected the clarity for officer in terms of his responsibilities and accountability. It made it hard for the officer to establish security standards and procedures. Internal control weaknesses: High risk is being involved in the PBGC’s single-employer pension insurance program. The program had an accumulated deficit of $5. 4 billion in 2003 which was the largest one in history of the corporation. Under funding also increased dramatically in private pension system. The deficit was due to the following reasons: bankrupt firm’s under funded pension plans were ceased, there was a drawback in funding rules, stock market and interest rates decline, companies went global and economy is turned into knowledge based economy. The company had taken steps to improve the internal control for premiums. This is being done for two reasons. First Safeguard of assets: controls must be establish to ensure that cost and obligation are according to the law applicable and assets are safeguarded against any loss or related factors. Second reason is Financial Reporting: it is to ensure that proper reporting is being done of all the revenues and expenditures so that documentation and reports can be made and are accurate. Data Quality Weaknesses: Incorrect data entry, adjustments, and system-generated balances generate errors. Because of the data quality issue, the corporation is unable to ensure the accuracy and completeness of premium data by utilizing Past Due Filing Notices and Statements of Account. The 1st one used to notify plans which had not yet submitted premium filings and 2nd one is used to ensure that underpaid/overpaid premiums from a plan sponsor could be sort out effectively. During auditing it was being noticed that these two tools are not being used timely as it requires significant resources before mailing. Due to this, premiums could not be collected and errors could not be detected. Additionally policies and procedures have not been documented, communicated, or implemented throughout PBGC which is related to the premium accounting cycle. www. pbgc. gov,2008). Business Strategy: The new investment strategy is being formulated to balance risk and return and to improve chances of reaching full funding over the long run. According to this strategy diversified set of fixed-income investments and diversified equity investments both will be given 45% of its assets each and 10% will be given to alternative investment. Financial Information: A deficit of $18. 1 billion was being posted by insurance program for single-employer pension plans in fiscal year 2006. Due to the airline relief provisions in the Pension Protection Act, the corporation managed to reduce its probable liabilities. This led to a $4. 7 billion net improvement. It announces maximum insurance benefit for 2009. The amount would be higher for those who retire later and vise versa. The corporation had a peak year in 2000 when they had a surplus of $10 billion almost which was followed by surplus of $8 billion in 2001. The corporation got the calls in order to stop charging premiums. It got around $9 billion claims in 2002. The claims were because of airline and steel industry. (www. soa. org, n. d. ).