The Audobon Zoo Essay Example for Free

The Audobon Zoo Essay THE AUDUBON ZOO, 1993 The Audubon Zoo is situated in New Orleans, Louisiana and is a 501(3)(c) non-benefit association. In 1914 the Audubon Commission was made to keep up and create Audubon Park. In 1919 the Audubon Institute was built up as the parent organization. Throughout the following quite a few years numerous progressions would happen including the expansion of a monkey confine, warm blooded animal pen and a deer enclosure. Louisiana younger students bought the principal elephant in 1924 and presently an aquarium and ocean lion pool was included. Through the Great Depression of the 1930s and 1940s the zoo was scarcely ready to keep its entryways openand during the 1950s it was marked a creature â€Å"ghetto† by the media. In 1970 the U. S. Compassionate Society demanded the zoo be brought to industry norms. In the mid 1970s the Commission worked intimately with Mr. Ron Forman, City Hall Liaison for Audubon Park, to pass a unique choice that created near $2 million in bonds. These assets were the start of the Zoo’s reclamation venture that empowered it to extend from 19 sections of land to more than 55 sections of land. Volunteers at the Zoo officially got known as Friends of the Zoo. By the 1980s the Zoohad got accreditation from the American Zoo and Aquarium Association and was noted as one of the nation’s top of the line zoological parks. What's more, in 1989, Friends of the Zoo got known as Audubon Nature Institute where it remains today. Today, the zoo consolidates examine research facilities with sections of land of immaculate common natural surroundings where uncommon and jeopardized creatures wander and replicate (ANI, 2009). The Audubon Nature Institute’s mission to servesone reason: Celebrating the Wonders of Nature. Its offices carry on this strategic the Audubon Park, Audubon Zoo, Woldenberg Riverfront Park, Audubon Aquarium of the Americas, Freeport-McMoRan Audubon Species Survival Center, Entergy IMAX Theater, Audubon Louisiana Nature Center, Audubon Center for Research of Endangered Species, Audubon Wilderness Park, Audubon Insectarium and Audubon Nature Institute Foundation. Extra open doors for the Zoo remember mechanical advances for creature reproducing and new intuitive PC programs that permit guests to get instructed about the creatures history, condition, unique qualities, taking care of and start. Instructive projects for the two kids and grown-ups are offered through guest programs, school field trips, outreach programs, and educator’s assets. An undeniable danger to the Zoo is the eccentrics of Mother Nature. New Orleans is situated on the Gulf of Mexico and tropical storms cause a danger to beach front regions throughout the late spring and fall seasons. Voyagers and inhabitants will be stopped from visiting the Zoo during severe climate and will negatively affect confirmations income for an unsure measure of time. A SWOT investigation is basic in assessing the market capability of the Zoo. In regions of solidarity; new attractions will draw rehash clients and with the instructive exercises offered all year there is a boundless gracefully of â€Å"new† younger students as they develop and build up their enthusiasm for their general surroundings. The restoration place for harmed creatures is a most loved of people in general and ought to be promoted as needs be. What's more, the Zoo’s Center for Research of Endangered Species has been perceived as â€Å"top notch† and as such likewise holds extensive incentive in promoting. The one significant shortcoming of the Zoo is its total need to rely upon gifts from a liberal open. Sadly, not all subsidizes that are pledgedare really gotten by the Zoo and this makes difficulties in planning from quarter-to-quarter and year-to-year. In a poor economy when the general population are compelled to stress over fundamental endurance needsdonations will pointedly decay. While the Zoo appreciates an overwhelming flexibly of volunteers, which makes a positive picture to the network, they can't be held to indistinguishable measures from paid workers. Volunteers are increasingly adept to travel every which way as they will and this leaves the Zoo helpless before over worked, understaffed representatives. A money related investigation of the Zoo uncovers that it has done well overall and that toward the finish of 1982 it was for all intents and purposes independent. Improved effectiveness in the zone of activities was the initial move towards this turnaround. The Zoo is entering a development stage and should search for chances to lessen its work costs, non-esteem included projects and offices, authoritative supplies and costs related with day by day overhead. Media presentation can be exceptionally costly and as a non-benefit element the Zoo should exploit however much free introduction as could reasonably be expected. Official statements about new acquisitions, projects, creatures, and the recovery community ought to be sent to the media on a proceeding with premise. News stories with data about the various creatures and the grounds they start from could turn into a standard travel control highlight of the neighborhood print media. Holding uncommon occasions for a focused on section of people in general could draw extra income; unrecorded music on the green or in the recreation center, Sunday evening Jazz Concert, or birthday celebrations with the extraordinary child’s most loved creature as the thememay animate development in income. Another thought is consider a â€Å"adopt-an-animal† program. Neighborhood schools, organizations or people could consent to â€Å"adopt† a creature and offer money related help through gathering pledges or in-kind gifts. Offering a yearly go for occupants at a limited rate may appear to be conflicting to expanded income in any case, if the network felt that they could visit the Zoo whenever without paying an extra charge they might be increasingly adept to spend optional dollars on caps, tee-shirts, sweat-shirts or different frill, snack bar things and motivation purchasing of keepsakes. Key factors in bringing an effective turnaround of the Zoo starts with the first obligation of $2 million and the aggregate of a $5. 6 million improvement program that was made by the Audubon Park Commission. These assets allowed extension of the Zoo to its present 48 sections of land permitting the zone to be isolated into geographic areas that included the separation of the creatures. Next was the usage of affirmation charges to produce income and help off-set the couple of gifts the Zoo got. The production of the gathering Friends of the Zoo, which oversaw rules for the numerous subjects and projects accessible additionally offered the edZOOcators conductededucational programs. The execution of raising money through new and fascinating occasions lastly, the nonstop development of projects and refreshing of different projects assisted with making the Zoo’s achievement.

Role of Media and Its Effects on Youth Essay Example for Free

Job of Media and Its Effects on Youth Essay Our life will stay inadequate without the media. The radio, TV, paper and web are a few structures through which we get data. Much the same as different fields, a tremendous advancement is found in media fields moreover. The everyday citizens accept the news given by the media. Along these lines, the media ought to be exceptionally cautious before giving any news to people in general. They need to cover significant happenings, in all the fields, the world over. There is no utilization in making enthusiastic sentiments among open by overstating the happenings and giving electrifying news. The media people ought to be careful in giving fair news to the basic people. AS EVERY COIN HAS TWO SIDE THATS WHY MEDIA HAS BOTH ADVANTAGE AND DISADVANTAGE.THE FAIR PART IS IT MAKES THE BIG UNKNOWN WORLD TOO SMALL AND THE BAD SIDE OF IT IS THAT TEENS ARE GETTING CRIMNAL DAY BY DAY BY SEEING THE NEWS OF CRIMES WHICH WE HEAR DAY TO DAY Drawbacks OF MEDIA:  ·The media badly affects everybody, not simply youngsters, the media never represnets anything in truth, it speaks to occasions in way that will acquire them cash, regardless of whether you are impacted contrarily isn't critical to them.  ·Children could believe that they are superheroes and bounce from tall structure in this way making a danger for their life.  · They may turn out to be increasingly forceful and inconsiderate in nature. There wellbeing might be ruined because of viewing over the top TV. They may amass less in there contemplates.  · Its over the top use may diminish there memory maintenance power.  ·The media covers updates on open intrigue, for example, political happenings, sports, city news, national news, global news, business, instruction, amusement, writing and clinical news.  · The news ought to fulfill all men, ladies and offspring of different age-gathering and status. To build course of papers, the media individuals ought not distribute counterfeit news.  ·The design shows, move and music programs draw in youths without a doubt. They like to go through cash for make up, attire and gems because of models and entertainers.  ·The youths wish to participate in these projects, which are unsatisfactory for some people.  ·The moderately aged people are condescending with TV serials and show a lot of enthusiasm for raising societal position, by squandering cash. Focal points OF MEDIA: †¢ The basic man gets the most recent news inside a small amount of seconds. The separation isn't at all an obstruction now. The news they get past media help them in their day by day life a great deal. †¢ The media causes ordinary citizens to trade data and it goes about as a typical stage. People in general get information and wakeful to bring up issues, on observing the news in paper and TV. †¢ The media assists with drawing out the shrouded abilities of the individuals. The kids learn numerous beneficial things through media. †¢ By understanding paper, the youngsters learn numerous things, their perusing propensity increments and their jargon improves by learning new words. Their insight increments by watching land channel, test projects and talks by popular characters of various fields. †¢ The animation channels fulfill the youngsters. †¢ The games increment their coherent reasoning force and getting a handle on of things. The disposition, approach and conduct of the average folks will likewise change, when presented to media. †¢ The media gathers information and let open to participate in social issues. Through blogging in the web and composing letters to the editorial manager in papers, numerous individuals offer voice about their input in various political and social issues. End: The media has brought the individuals everywhere throughout the world closer. We need to take the positive viewpoints and use it for good reason. The media and open should assist with heading out the negative impacts of the media.

Looking at Corporate Governance in TESCO Plc

Taking a gander at Corporate Governance in TESCO Plc Corporate administration essentially is a sort of idea that has been portrayed with a huge number of definitions due to its relations to monetary places of the companies.The most fundamental ones that can be conceptualized are as Corporate administration is a framework that controls proficiency in the executives of business organizations including of specific codes of practice,contracts and enactments. Corporate Governance are the strategies, systems and rules administering the connections between the investors, (partners), executives and the board of an organization, as characterized by the pertinent laws, the corporate contract, the companys ordinances, and formal approaches. ZAWAIDEH, M. (2003).Definition of Corporate Governance [WEBSITE].AVAILABLE FROM: https://www.xing.com/net/balancedscorecard/2-bits of knowledge 4642/definition-corporate-administration 1813244/ [ACCESSED:8 NOV 2009]. Corporate Governance in TESCO Plc. Corporate administration of an organization including with high characterized qualities and plans i.e proficient release of board obligations towards the enthusiasm of investors can create great performance.if the fundamental standards or codes of training of corporate administration isn't followed may prompt decay in the monetary and money related execution of an organization. Corporate administration under Combined code in TESCO plc. can be summed up by partitioning into sub-classifications. Successful board Director and official having their own duties Parity and Independence of executives Arrangements of chiefs Boards of trustees Designation advisory group Review Committee Renumeration Committee Board execution assessment Hazard the executives and Internal Controls Powerful leading body of any organization frames the spine towards great execution and security of organization. Predictable development and achievement of Tesco plc. during ongoing years shows that organization has possibly qualified and profoundly experienced leading group of directors.Moreover bringing thought into Tesco plc. yearly report it is likewise obviously noticeable that directorate know about objectives and destinations related with the organization. Northcote Internet Pvt Ltd(NO DATE).Tesco Plc. [WEBSITE].AVAILABLE FROM. http://www.northcote.co.uk/company_links/by_sector.asp?SIT=1SID=12SDL=NI02770. [ACCESSED:9 nov 2009]. Administrator and CEO structure as two primary mainstays of the organization. Fundamental exercises important in smooth advancement of the organization relies upon the shoulders of administrator and CEOs. Organization having, administrator and CEOs, conveyed obligations and accountabilities fall under arrangements of good administration. Considering Tesco plc. set of obligations and obligations for chairman(Sir David Reid) and CEO officer(Sir Terry Leahy) are all around dispersed along these lines dodging any method of choices to be taken by a solitary person.The shareprice of the organization is additionally keeping up great consistency ,due to dependable relations among investors and administrator. Morningstar (NO DATE) Tesco Impresses with First Half Results (Management and stewardship). [WEBSITE].AVAILABLE FROM: http://www.morningstar.co.uk/uk/news/article.aspx?lang=en-GBarticleid=82979categoryid=660 [ACCESSED:9 NOV 2009]. Harmony between the executives in the board is one key point in keeping up the strength and money related advancement of the organization. on the off chance that the harmony between the top managerial staff in an organization is absent, the organization can't prosper consistently. Bringing thought into tesco plc,the organization has 15 individuals in the board where eight are official chiefs and seven are non-official executives. As per joined code atleast half of the board ought to be contained executives that are autonomous and there ought to be balance, though if there should be an occurrence of Tesco plc balance between top managerial staff isn't attained,this likewise brings up the issue of freedom among the chiefs. Arrangement of board for an organization is another fundamental stride that must be followed all the time so as to keep up the standard of required abilities and experience. By and large the political race in an organization is held every year, which is the most ideal method of rehearsing and conforming to consolidated code. As per Tesco plc the appointment of board is held each three years,which isn't all around directed. Morningstar (NO DATE) Tesco Impresses with First Half Results (Management and stewardship). [WEBSITE].AVAILABLE FROM: http://www.morningstar.co.uk/uk/news/article.aspx?lang=en-GBarticleid=82979categoryid=660 [ACCESSED:10 NOV 2009]. The Committee structure gives organization to act in parts and give out joined outcomes by focusing on key areas.cosidering Tesco plc. ,it is separated into three significant boards of trustees to be specific Designations Committee Remumeration Committee Review Committee Designation board of trustees The Committees intention is to form the methodology of TESCO to worries of corporate administration and, every now and then, to survey such approach and make proposals to the Board of TESCO in regard of such issues. Also, the Committee will exhort the Board on corporate administration and related matters.the council is led by David Reid.as it tends to be percieved re-appointment in tesco happens to be each multi year so assignment process should be improved ,might be it very well may be diminished to one year process which can investigate new gifts and encounters Review board of trustees The Committees reason for existing is to speak to and help the Board of Directors with oversight of the honesty of TESCOs bookkeeping and budgetary detailing forms (counting related inside controls) and the reviews of the fiscal summaries of TESCO. The executives is liable for the TESCOs bookkeeping and monetary detailing forms. The outside evaluators are answerable for the review inside acknowledged inspecting guidelines of TESCOs bookkeeping and detailing procedure and revealing the consequences of that review to the Committee. Tesco Corporation(2008).Audit panel sanction. [WEBSITE].AVAILABLE FROM: http://www.tescocorp.com/information/1/rec_docs/523_Tesco%20Audit%20Committee%20Charter%2007-05-18.pdf [ACCESSED ON:11 nov 2009] Compensation Committee Compensation advisory group is essentially intended for compensation of directors,employees or staff in an appropriate and proficient way.In an announcement, Tesco stated: Remuneration for the principle board mirrors the exceptionally serious condition in retail and the need to select and hold the best people.An autonomous compensation panel supports rewards, connecting them to testing long haul execution targets. In the event that these objectives are not met, the prizes reduce. Breakingnews.ie(2003).Tesco boss gets 15% compensation and advantages help. [WEBSITE].AVAILABLE FROM: http://www.breakingnews.ie/documents/2003/0511/business/snidojeykf/[ACCESSED ON:11 NOV 2009]

Atelophobia: fear of imperfection Essay

Atelo implies not being sufficient and phobo implies dread. Atelophobia: dread of blemish. While an extraordinary number of us plan to be sticklers, a few of us take it excessively far. This could prompt over the top urgent issue, which is meaning of individual making their life great. On the off chance that they couldn’t accomplish the most perfectly awesome, it might make them stress. Be that as it may, individuals who have a kind of conduct that solitary attracts frustration and traded off social relationship are known to have Atelophobia. Individuals with this issue mean to make everything as perfect as could be expected under the circumstances. Atelophobia regularly ruins companionships and relationship, and can frequently cause clashes between families; they dread that they won’t be sufficient for them. They normally set themselves elevated expectations that are difficult to accomplish. These individuals who have this dread are for the most part stressed over disillusioning others. Casualties of Atelophobia can build up this dread by a few reasons; media is one reason. Targets typically admire big names. They see photograph shopped pictures of them and need to be like them. Among 7â€13th school years, 47% said they needed to shed pounds in view of magazine pictures. It could be founded on looks, weight, ability and so on. It could lead the general public to think it’s ordinary. On the off chance that everybody had comparative contemplations, at that point, individuals who don't reach to society’s measures would be named as ‘different’. A dread of being one of a kind or different to other people; Unusophobia. Atelophobia casualties could likewise build up this issue attributable to this reality that they needed to fit in the ‘crowd’. In conclusion, Atelophobia could’ve been created by tormenting. Harassing could include their family or companions. Their youth could have an encounter of individuals posting cruelly of their deficiencies and shortcomings. They could have guardians who were too requesting or set unreasonable desires they would never meet. As an understudy, it’s almost certain to encounter tormenting than adults;â statistics demonstrates it. It’s the same for Celebrity, Demi Lovato. At age four, she would investigate reflect at herself thinking, â€Å"I was fat† (MTV). The star likewise clarified how her sentiments of low self-esteem lead to her shedding a colossal measure of weight at the time of only twelve years of age yet it didn't improve her vibe. She expressed a gathering of young ladies originally began to insult her how she never has straight hair simply like the others and it had in the end driven on to her different shortcomings. She had then got taken into recovery after her mom discovering she self-hurt herself.

Should I Perform Primary or Secondary Market Research

Should I Perform Primary or Secondary Market Research © Shutterstock.com | Rawpixel.comAfter exploring in details the topics of primary and secondary market research techniques, this article focuses on the comparison of both types of market research. We will first gain 1) an insight into primary and secondary market research, and explore then the benefits and disadvantages of both types of research when choosing to perform 2) primary or secondary market research.AN INSIGHT INTO PRIMARY AND SECONDARY MARKET RESEARCHPrimary ResearchPrimary market research is one of the two major market research methods used by most businesses across the world. Primary research is the research that a business does on its own, without the help of any previously collected data or information. The data collected in primary research is being collected for the first time and is specific to the business’s purpose or objective. This is why the information gathered can be referred to as ‘raw data’. Primary market research can be done through many methods of which some include focus groups, face to face interviews, telephone interviews, surveys, questionnaires and observational techniques, etc.One of the main benefits of conducting this kind of research is that it helps to gather only the data needed and no extra information. This can be time taking and cost bearing but avoids the need to cut back on several pieces of useless information. Primary market research is of two major types: quantitative and qualitative. Quantitative research focusses more on hard facts, stats and figures whereas qualitative research takes into account the feedback, opinions and emotions of the consumers.Examples of primary researchExit Surveys Exit surveys are those kinds of surveys which customers are requested to answer before leaving the store or the website and help to gather views on products, services, etc.On-site fieldwork This kind of research is related to gathering information about a particular location for the business, its access to consumers , its popularity, and other such factors. Based on the results, a business decides which location will serve best for its store or functioning.Interviews Face-to-face interviews or telephone interviews help to gather information about the customer’s satisfaction levels, preferences, dislikes, and expectations.Focus groups Groups of 8-20 people are brought together, and a researcher is asked to conduct group discussions to fathom opinions regarding products and services. In such a method, direct feedback from core customers can be collected efficiently.Secondary researchSecondary market research is a kind of a market research method that involves gathering already researched and collected information. This technique tries to search for and compile information that is already existing and can either be for free or for certain cost. This method of research does not include finding any original or unique data and relies on information obtained through the internet, libraries, govern ment sources, trade associations, existing business documents, competitor’s data, etc.While it may be very time-saving and cost saving to find information through secondary research, the amount of data gathered may not match the business’s requirements or may not be specific to its needs. Secondary research is however still preferred and widely used across industries and businesses. This method is also termed as ‘desk research’ since it can easily be done from behind a desk, and one doesn’t need to step out for it. Most of the times, secondary research is for free and hence very popular.Secondary market research can be used to gain an early understanding of the industry or the market. But proper interpretation is needed to understand and evaluate the data collected.Examples of secondary researchData on internet One of the most preferred and popular sources for collecting secondary data is the internet. The web provides a lot of information which can be used by businesses to meet their research requirements. However, only credible sources and trusted websites must be referred to and used.Government data One can also make use of data recorded and filed by government organizations for their secondary market research. Some data that can be availed through this method includes economic factors, industry trends, company rankings, etc.Data on customer databases and demographics A lot of data is available on customer databases such as stock lists, etc. and this information can prove very valuable for businesses that need to study customer trends, behavior, names, addresses, etc.Information through libraries, etc. Libraries can be a great source for a lot of business related information, marketing tactics, promotional methods, etc.PRIMARY OR SECONDARY MARKET RESEARCH?In order to compare which type of market research would fit your business purposes better, we listed the benefits and disadvantages of Primary and Secondary market research below.Benefits of PRIMARY Market ResearchSpecific data can be found: One of the most important benefits of primary market research is that it can help find information that is customized according to the needs of the business and is highly specific in nature. The research helps to investigate issues that the business may need to know the most about and is flexible enough to leave out unwanted or useless information. It helps to gauge customer behavior, the consumer likes/dislikes, their expectations and market trends in a specific way. Methods like focus groups, surveys, and interviews, etc. help to gain knowledge that can be directly used for product development, etc.Customized to personal needs: Unlike secondary market research, the approaches used in primary market research methods can be tailored according to the personal requirements and needs of the business. One has total control over the manner of conducting the research and finding solutions. For example, if a business needs to find out cust omer behavior in a particular age group, it can do so by conducting surveys for that particular age group.Targeted issues can be addressed: Only those issues which the business is most interested in addressing can be touched through the method of primary market research. No extra information needs to be collected or goes to waste through this method. The research work is streamlined in such a way that its scope is limited to the business’s interest. The efforts can thus be concentrated on specific matters and not a whole array of other areas. This is another very important benefit of using the method of primary market research as a part of a business’s research efforts.Ownership of information: Another important advantage of primary market research is that by using this method of gathering information, a business can claim to own exclusive rights over collected data. This means that no one else but that business can use the information, and it may choose to offer it or not offer it to anyone else. The proprietary of information or ownership of information can bring about further benefits for the business.Better data examination: When it comes to primary market research, the data collected or information gathered can be better interpreted or evaluated by the business. The data can be examined based on the needs, and this doesn’t have to depend upon the interpretation of the secondary data, which is complex and time taking. This means that in primary research, the time taken to evaluate data is less, and the process is more efficient.Efficient spending: In the case of primary market research, a business spends only on what is required and doesn’t end up wasting money on data that may be useless or irrelevant. This means that a business can spend smartly and efficiently when it chooses to conduct primary market research. This helps to remain within budget and save on the overall costs.Disadvantages of PRIMARY Market ResearchExpensive to conduct: One of th e main disadvantages of opting for primary market research is that it can be very expensive to conduct. One may be required to spend or invest huge amounts of money to conduct interviews, surveys, organize focus groups and experiments and trials. Not all businesses can afford to opt for these methods, especially startups or small scale organizations. They may rather opt for secondary methods such as researching for free on the internet, etc.Time taking: Another negative associated with the process of primary market research is that it can be very time-consuming. Conducting interviews, market surveys, and experiments, etc. may take a long time. Moreover, evaluating the results and applying the obtained results on product development, etc. may take further time. Those businesses that do not have the required time may rather opt for less time taking alternatives like using secondary sources, etc.Feedbacks may not always be accurate: The feedbacks obtained from audiences and respondents may not always be honest and accurate. Not all respondents may be totally true or honest in giving their opinions and feedback. Some may not state what they feel accurate and this could mean evaluation of incomplete or wrong information. Thus, the entire process of primary market research may topple over or lead to slightly incorrect findings.Several sources needed: In order to come up with results or final reports, the help or assistance of many different sources may be needed. One may need to rely on several different methods including focus groups, face to face interviews, online surveys, physical surveys and observational tactics, etc. This may be even more time-consuming and expensive. This thus proves as another negatively related to primary market research.Benefits of SECONDARY Market ResearchEasy availability of information: One of the main advantages or benefits of secondary market research is that all the information gathered through it is very easily available and access ible. There are many sources from which information can be taken, and this makes it easy for researchers to gather relevant information. Unlike primary research, in this method, one tends to collect huge amounts of information in lesser amount of time.Less expensive: As compared to primary market research, secondary market research is cheaper to conduct and hence helps saves a lot of money. It allows businesses to remain within their budget limits and requires spending of the petty amount of money. In fact, most of the information can be found for free through secondary data sources like the web, public directories, governmental organizations, and libraries. This very benefit makes it a popular choice among small or new businesses and organizations.Lots of available data: Besides the easy and cheap availability of information, secondary market research also offers the benefit of availability to lots of data. There is a gamut of data available for each business, company and industry and several objectives can be fulfilled by making use of such information. The abundance of secondary data sources is responsible for this in addition to the fact that most information these days is stored on web search platforms like Google, Yahoo or Bing, etc.May highlight truths about conducting primary research: Most of the times, the people who contribute data to secondary market research may point out to the original sources, the time it took to collect the information, the difficulties and challenges faced while gathering data and other information relevant to it. This may help secondary researchers to know whether or not it was practical to conduct primary research in the first place. This very fact makes secondary market research a beneficial process. It highlights the truths about primary research.Answers research questions: Secondary data research or market research is a method that helps to bring together or align the concentration of widespread primary research. When co nducting this form of research work, businesses or researchers often realize that the information they were looking for is actually present for free and this may reduce the need for conducting primary or original research work from scratch.Lots of free information available: Often, businesses can conduct secondary market research without spending even a single penny. This is because of the availability of high amounts of free data. For some organizations, the entire research can be conducted using this free information, and this would mean zero expenses on market research.Quicker to conduct: Since most of the data is available easily and can be accessed without many efforts, the process of secondary market research is much easier and convenient to conduct as compared to primary market research. This type of research can be done within days or weeks, depending upon the objectives of the business or the scale of information needed.Disadvantages of SECONDARY Market ResearchDifficult to cut back on useful information/not specific: One of the main drawbacks of secondary market research is the difficulty in selecting some pieces of useful information from the sea of data collected. Since lots of data is available but specifically needed data is less, businesses may have to spend a lot of time and energy in picking out information that is relevant to it. In fact, they may sometimes realize that they haven’t found what they were exactly looking for due to variations in customer demographics, location, and other factors.Lots of non-credible sources create difficulty/lack of quality research: Of course, there is a lot of secondary data available out there, but not all is offered through credible or trusted sources. Most of the data on the web cannot be trusted, and the same holds true for the information offered by directories, trade associations, etc. Thus secondary market research may not always be quality research as sometimes it is difficult to know which source i s credible and which is not.Incomplete information also available: Besides the lack of credible sources and quality data, most of the information available through secondary sources may be incomplete or lacking on some main points or statistics. As they say, incomplete information can be dangerous; using incomplete data results can also prove dangerous as far as market research goes. Especially when it comes to using competitor data or information on the web, several links can be broken, and the true picture may not be presented.May not be updated: Not all secondary data sources available offer the latest reports, data, and statistics. Some of the data may be outdated; other may just not be valid according to the current situations like economic climate, market trends, user demographics and other factors. This is a major drawback of using secondary sources for market research. Old and outdated data may lead to incorrect results or findings, and this very fact interferes with product development, service enhancement, and other business processes.CONCLUSIONWhen it comes to choosing primary or secondary market research, no one type of research comes out as a winner. Both the research methods have their positives and negatives, and the decision to choose one depends upon the individual business needs and requirements. Where on one hand, secondary market research presents data which you may never be able to uncover yourself, primary market research can help fill the gaps which secondary research wasn’t able to answer. Neither of the research methods alone could help a business reach its objectives, and the wise thing to do is to pick smartly both options, in the right proportions.Relying on primary market research alone can lead to missed opportunities, incomplete information, and limited data, using secondary data alone may leave you with vague answers to specific questions. Both research works hold their importance and present beautiful opportunities for busine sses when combined well together. A successful business is one that has learned to utilize these processes together and in the right amounts. Thus, it won’t be wrong to say that no method is better than the other, and only the combination of both can give a well-rounded view of the market or the industry.

Acquisition Between Coffee Shop and Securities Firm - 13750 Words

The Impact of Merger & Acquisition Between Coffee Shop and Securities Firm in Enhancing Competitive Advantage in Malaysia (Other (Not Listed) Sample) Content: MBA DISSERTATION MODULEPROJECT PROPOSAL- 20% of Final Dissertation Module MarkCandidate Name: ____________________Study Centre: _______________________ Enrolment Date: _____________________ Registration number: ________Project Title: The impact of merger acquisition between coffee shop and securities firm in enhancing Competitive Advantage in Malaysia. Hand in Date of Proposal: ______________Background of the StudyMalaysia like any other country embraces the importance of engaging in business. It is realistic that business ventures enhance community and social, cognitive and emotional experience and development, thus creating the need to explore the study subject. Research study on how coffee shop and securities firm could merge to connect the community in the quest to enhance effective provision of security services. It is imperative to state that the bond between place and people are molded into a whole. Product consumers do not intend to disclose security is sues to the respective firms that handle such matter; but when integrated with coffee shop business, and securities firm, consumers could integrate well based on social relations. However, interconnection between members of the community and coffee shop could be explicated as an enhancing fact in improving security within the market scope especially in the country, Malaysia. Integration between coffee shop business and security firm will address collapse and consequent revival among Malaysian communities. This will probably minimize the currently exhibited cases of disconnection especially between families, friends, neighbors and corresponding social structure. Moreover, when integrating coffee shop with securities firm, a number of themes would emerge in relation to people, their feelings, activities and prevailing unique social climate within coffee shop. This could enhance culture facets and sense of belonging, which are fundamental in productivity, personal growth, territorialit y, support and networking to ease work of securities firm. Moreover, both length of patronage and sense of attachment to community could be enhanced through joint venture between coffee shop business securities firm in Malaysia. Now, since the main company is coffee shop, which intends to make securities firm as a support industry, merger and acquisition between the two companies should underscore innovativeness in creating value. It is imperative to assert that both companies are service providers hence they target culture and consumer behavior as assurance of quality services to the community. However, it implies that, adoption of appropriate strategies should be considered to enhance their competitive advantage. Both companies should work towards gaining consumer loyalty. Problem StatementCoffee shop business and securities firm are two industries, which are capable of exhibiting rapid growth in the country. Malaysia as a country is characterized by increased adoption of coffee culture, likewise to integration of security firms to enhance safety and well-being of the people. Through information exchange, especially when taking coffee, many people would immensely gain interest to invest on security services hence creating links that benefit both companies. This is why research study targets in-depth understanding of how joining coffee shop business and securities firm could give competitive advantage in Malaysian markets.However, the study offers great insight on small and medium enterprises through exploring effective strategies in integrating small organization within major business. A process that could be used to explore four main questions as follows;What are impacts of merger between coffee shop and securities firm in Malaysia?What are the competitive advantages that could be encountered when two industries dealing with different services merge?Does amalgamation between coffee shop and securities firm exhibit both positive and negative effects in Mal aysia?Does integration between coffee shop and securities firm work better for emerging companies in the competitive industries in Malaysia?Significance of the StudyIn Malaysia, most of renowned companies/ organizations use respective brand names as competitive advantage over new and small industries. This has been happening despite low quality services provide to consumers. However, when exploring how joined Coffee shop business securities firm could be adopted as competitive advantage in Malaysia, it is pragmatic to derive strategies that could integrate mall business organizations. This would mainly greatly impact on productivity of small organizations to outweigh competitors. Thus averting the overreliance on lucrative brand names that confuse consumers who are optimistic of securing quality products and services to their satisfaction.However, scholars and researchers will also benefit from the study. This could be exemplified through knowledge expansion on how amalgamation bet ween small organizations could enhance competitive in satisfying both product and service consumers, and other corresponding areas with similar considerations in Malaysia and global markets. Moreover, the process will necessitate ability to explore more research within study area. Hence the study could act as helpful resource and sources of secondary data for literature review on how small organizations could take advantage of their competitors who adopt brand name as marketing strategy within service provision industry.Organization of the StudyIntroductory chapter is purposefully aimed at explaining the overall study structure. However, the chapter derived in-depth discussion of problem statement, research questions and study significance to enhance understanding of the whole dissertation. The next chapter will explore comparative literature for the study leading to methodology chapter which will as well, major on data collection and analysis. Moreover, chapter four will effectivel y report on study findings. This would be later on be prove the interrelation to literature review. The final chapter will entail discussion, recommendation and conclusions, which would be further mapped to literary information and study objectives. Moreover, it will culminate into suggestions for further study based on exhibited weaknesses of current research. References and appendices will come on the last pages of the study.LITERATURE REVIEW2.1 IntroductionThis section majorly draws on literature within research area; the impact of merger acquisition between coffee shop and securities firm could enhance competitive advantage in Malaysia. However, there is vast literary information materials like books, journals and articles with precious research study topic. The materials ore essential for the study since they act as basis for observation to be explicated during the study in line with impact of merger acquisition, based on study objectives. However, when considering the integr ation between coffee shop and securities firm, merger and acquisition plays great role in enhancing competitive advantage in Malaysia. In this respect, it is sensible to understand the meaning and application of the term merger and acquisition as explained below.2.2 Merger and AcquisitionsIn competitive business environment merger and acquisition has been affirmed to play positive role in organizations progress. From definition, merger and acquisition refers to combination of distinct forces by two or more firms that intend to operate as one (Kovacich Halibozek 2005). Moreover, according to business or economic perspective, merger and acquisition is regarded as voluntary combination of companies into one larger company (Cartwright Schoenberg, 2006). The process involves stock swap or cash payment to the target company. It implies that both companies merged have to share risks involved in the deal (Mitchell Mulherin 1996).In furtherance, Kovacich Halibozek (2005) exemplified acqu isition as a buyout or takeover. A process in which a purchase business combination involves company known as predator, or acquirer taking over targeted firm (Cartwright Schoenberg 2006). In the process, one company proposes purchase on another firm, when the proposed purchase is accepted then the acquired company becomes subject of the acquirers management (McLaunglin 2010). It there is not resistance and once the acquiring firm has identified all possible targets, there has to be an established suitable price or range of prices; after which the tentative payment terms, be it bonds, cash, shares or combination of all these (Cartwright Schoenberg 2006). Thereafter, the acquiring firms management would decide on the best way to approach Target Companys management for merger approval (Mitchell Mulherin 1996). After signing agreement terms, the management of two companies issue statement to their stakeholders with indication that merger is approved, thus shareholders would be obliga ted to surrender their shares to predetermined financial institution along with distinct assigned power of attorney (Cartwright Schoenberg 2006). Thus transferring share ownership to the acquiring firm. This implies that retarget firms shareholders gets specific payment on common stock of the acquiring company (Cartwright 2005). Moreover, it is somewhat difficult to decide for the shareholders, but the one who would like to be part of the merged company are allowed to become shareholders of the acquiring company (Mitchell Mulherin 1996). This is done through either cash, bonds or combination of both, and other securities. However, it enhance exploration of financial performance as illustrated below.2.2.1 Financial PerformanceAmong challenges that enhance the need for merger and acquisition is com...

Academic Paper vs. Article Writing Service Are The Requirements The Same

Everyday kind of information can be presented in written forms. It can be done using an academic paper or through article writing, also known as non-academic paper/writing. Majority of studies and researches are carried out using information from these forms of writing. Due to this, people take strides to learn the similarities and differences. In this write-up, the difference and similarities between an academic paper and article writing service will be discussed. The Differences Evidence-Based The reason behind academic papers is not unconnected from educating the reader by providing the information backed up with facts. An academic paper can cover a particular subject proposing a theory and show how this theory can be proven with enough evidence e.g. scientific data. Article writing is done to provide entertainment which contains information that is biased as they are supported by little or no facts. It is mainly born out of the writers point of view and can be full of sentiments. It is often done by inexperienced writers with money-backed intentions to entertain and persuade the reader. Formal vs. Informal In academic papers, the form of writing is usually formal and professional looking. There is no room to condone slang words, contracted words, and esoteric languages. The writing is strictly done according to stipulated guidelines. It typically includes an introduction, a body disclosing an overview of the subject accompanied by evidence, and a conclusion that sums up everything in the writing piece. It contains the authors name, credentials, and the list of references. In article writing, information is provided without any manner of formal tonality. It can appear unprofessional as it may harbor slang expressions and indiscernible words. In its bid to entertain the audience, some humor can be incorporated and another element which cannot be seen in academic papers. Audience Academic writing is meant for an educated audience educated scholars and researchers based on proven facts. Article writing is not always intended for an educated audience. Professionalism vs. Unprofessionalism Academic papers are strictly done by professionals in a given field. They are expected to possess enough knowledge regarding what they are writing about. The writing will be reviewed and edited by the authors colleagues and take a lot of time to be published. Article writing can be done by anybody who has little or no knowledge regarding the topic. It takes lesser time to publish. The authors name may not be present. Articles are traditionally void of the authors credentials and list of references where they got their work from. Similarities Informative Academic papers and articles are written with the sole purpose to educate the audience. Both can contain relatively similar information. Originality The information provided in an academic paper and article writing is not expected to be gotten from other peoples words and ideas. The content has to be unique, original, and authentic. In case the information is based on someones ideas or their words are used, a citation is needed to show the source of the gotten information. Failure to do this is tantamount to plagiarism. Creativity In both forms of papers, writers would want to be captivated by their work. In order to achieve this aim in academic papers and article writing, fact-based information and personal experiences that have not been heard of are infused into the writings respectively to gain the attention needed. There you have it!   These are the features that make up academic papers and article writings.

The Defining Characteristics Of Leadership - 1305 Words

The Defining Characteristics of Leadership Leadership arises in different situations with all being a variety of characteristics and traits. While there are a variety of connotations and denotations of the word leadership, one can say that an effective leader doesn’t necessarily need to have all the traits that a great leader needs to have, but only possessing the traits of being able to direct individuals into the correct path, being ethical and having high moral values, and being loyal. Through the usage of positive words and having an optimistic mindset, both McVay and Atticus Finch effectively portrays one of the beneficial trait of an effective and good leader, which is leading people to the right path. When Scout confronted Cicil†¦show more content†¦Keep heart’† (Stanton 154). Captain McVay is one of the many people in the book called In Harm’s Way that actively portrays leadership. In this specific scenario, McVay tried to maintain and impr ove the hopes of the group of people that he was leading thus revealing that idea of leading people to the right path due to the fact that he was trying to keep their hopes up even though that they have a low probability of being rescued due to the neglected messages about the sinking of the U.S.S Indianapolis. Both Captain McVay and Atticus Finch greatly develop the idea of leading individuals into the correct path by their usage of positive words and through the course of their actions and it is this reason that both McVay and Atticus Finch help impact the point of view of many people that surrounded them throughout the course of their life. In the play Julius Caesar and in the book called Night both Brutus and Elie Wiesel effectively interpret one of the many beneficial traits towards being a good leader, which is being ethical and having high moral values. This is actively portrayed by their actions and the usage of deep and profound words. During the course of planning the kill ing of Julius Caesar, Cassius spoke about his true motives, which is the downfall of not just Caesar but Anthony as well. When Brutus heard his desires, Brutus uttered, â€Å"‘Let us be sacrificers but not butchers, Caius’†

South Park Fun With Veal - 2476 Words

My initial inspiration in becoming a vegetarian was simple: eating animals is not essential to living a healthy life and I would prefer to avoid engaging in a discordant relationship with nonhuman animals and the natural world. Theretofore, I had been an eager, indiscriminate consumer of nonhuman animals, often outfitted in leather footwear and annually swathed in my winter wool. Thenceforth, family anticipated and dreaded my finicky dietary demands and envisaged the emaciated shell of a once healthy son toiling over paltry tasks. Friends taunted me with kabobs and sushi. Others kept a close eye on my behavior lest I step on a bug or unwittingly ingest carnal victuals. While I was largely unperturbed by such petty adversity, I was†¦show more content†¦She suggests that this set of basic beliefs is buttressed by hegemonic masculinity in practice and has traditionally provided western societies justification for marginalizing both women and the nonhuman natural world. Mo reover, Warren’s claims are substantiated by both Carol Cohn’s explication of gender discourses’ permeation of other, seemingly disjunctive cultural discourses and Carol J. Adams’ analysis of the cultural connotations attached the meat/vegetable dichotomy, as well as her elucidation of the structure of the absent referent embedded in an oppressive, patriarchal, conceptual framework. Furthermore, Adams offers an anthropological account of the consumption of animals to suggest that meat’s role as a symbol of male dominance is in part the result of a transposition from the male role as hunter and distributor of meat to the male role of meat-eater thereby implicating meat consumption in the development and maintenance of patriarchal societies. Finally, in â€Å"Metrosexuality can Stuff it: Beef Consumption as (Heteromasculine) Fortification,† C. Wesley Buerkle argues that performing traditional masculinity is contingent on avoiding the feminin e stigma associated with abstention from consuming animals. In agreement with both Warren and Adams, Buerkle claims that by consuming meat men seize on a presumably stable component of masculinity thereby perpetuating and engaging in a cultural performance of sexual dominationShow MoreRelatedEssay on German Cuisine and Oktoberfest1508 Words   |  7 PagesRunning Head: OKTOBERFEST: FESTIVAL OF FUN Oktoberfest: Festival of Fun Nikita Melnikov Northwestern Oklahoma State University ENG1213 Oktoberfest: Festival of Fun Before winter wraps a white blanket on the lands, a final celebration is in session for October all over the world. This is the time to eat, drink, and be merry: Oktoberfest. The tradition began in 1810 to celebrate the marriage of Bavarian Crown PrinceRead MoreConcept of Modern Marketing6559 Words   |  27 Pagestheir orientation to reflect the customer’s viewpoint. Using the first two companies as examples, provide a marketing orientation for the other four companies. PRODUCTION ORIENTATION MARKETING ORIENTATION Disney We produce movies and run theme parks. We provide fantasies and entertainment. Prudential We sell insurance. We provide financial security. American Airlines We run an airline. IBM We make computers. Sprint We sell telecommunications services. Amazon.com We sell books and otherRead MoreFrench Terms for Ib Sl French B8316 Words   |  34 Pagesmoving to move house removal man to live departure to go past / exceed / overtake to hurry to move diversion to overtake / dub petrol narrow to fill up (petrol) to hit / knock brake / to brake garage / garage owner (railway) station bus station to park wide line to set off GCSE French General Vocabulary List  © OCR 2009 Topic Area 1 Home and local area moteur moto(cyclette) / motocycliste (tomber en) panne panneau parking (souterrain), parking à   à ©tages partir partout passage à   niveau passager passantRead MoreSubway Restaurants Essays21330 Words   |  86 PagesTodorovic Research Report – Taking the Subway There is McDonalds PlayPlace (indoors) and â€Å"Playland† (outdoors) – a playground to keep the children amused whilst waiting for the food to be cooked or for mum and dad to finish theirs. The ‘kiddy’ fun is further complemented with the ever popular happy meals that come with a favourite meal and a great toy. For health conscious people, they can now enjoy the nine new Heart Foundation Tick approved meals, adding to their existing healthy salads

King s Logical And Emotional Appeals - 1275 Words

Kelly Hourihan Mrs.Fishman English 9 Honors March 25, 2016 King’s Logical and Emotional Appeals in â€Å"I Have a Dream† and â€Å"Letter from Birmingham Jail† In the United States, a number of individuals fought for personal freedoms for not only themselves, but the lives of others, and those to come. This fight was successful, and granted the opportunity to ensure all people had equal opportunities. Unfortunately, for many of two hundred forty five years, the enslavement of people of color became an â€Å"ordinary† part of American society; obviously breaking all rights of these people. Finally, in 1865, slavery was abolished in the United States due to the works of President Abraham Lincoln. Although African American individuals were free of†¦show more content†¦Free at last!† (King). Obviously, people of different cultures and beliefs have not lived in perfect harmony. Wishing for a future in which all groups live in peace appeals to the soul of anyone affected by racism or hatred. 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Though the credibility is weak throughout Christian Fiction: Piety is not Enough, the elements o f logic and emotional appeal are effective in convincing Christian readers that today s Christian fiction is subpar. It is a theme among Christian writing to not discuss topics that are at the core of human condition and Terrell logically explains that if the Bible talks about a subject then so canRead MoreEssay on Fresh Prince of Bel-Air1267 Words   |  6 PagesBorn a Prince, Left a King Now this is a story all about how my life got flipped, turned upside down, and I’d like to take a minute, just sit right there, I’ll tell you how I became the prince of a town called Bel-air. These are the opening lines to the intro song of the television comedy â€Å"The Fresh Prince of Bel-Air†, that me and every 90’s kids with a TV has had memorized since the day we first heard it. 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Good Habits Free Essays

Practicing good things in our lives, make us and our surrounding happy. Every individual should engage in good deeds to becomes good human being . There are many tall leaders ,who became our role models. We will write a custom essay sample on Good Habits or any similar topic only for you Order Now The reason behind their greatness is, indulging themselves in good habits . The habits like, reading books that radiates knowledge and moral , or attending religious ceremonies ,or participating in group sports ,would make a comprehensive or a complete human being . Lets discuss in detail. Firstly, good habits are very essential for leading a harmonious life. if we look in to biography of famous people, we can learn that they had indulge healthy habits like reading books or spending their most of the time in library. Reading enhances our knowledge and perception towards outer world. There are many beautiful books that teach, the proper way of personal and social life. Hence one must cultivate this habit to lead a good life. Secondly, religion teaches the holistic way of life, that includes respecting elders and nature . Attending these religious ceremonies will change individual behavior and make them to live a moral and virtue life. Irrespective of any religion, all teaches to become a good human being . By spending some time from our daily life in religious rituals, will inculcate high moral in people. Further more , participating in sports especially in group sports,also help us to construct our personality in positive direction . Playing in team teaches to how to be a part of team, and it also show co-ordination of each other to get success ,it could be in sports or in personal life. To put it in to nut shell,indeed good habits make a good human being . Spending time with good books or attending religious ceremonies ,certainly bring changes in personality . And plying group sports enhance harmony and integrity in our social life. How to cite Good Habits, Essay examples

Supply Chain Management Transportation Strategies For Retailers

Question: Discuss About The Transportation Strategies For Retailers? Answer: Introducation Retailers are trying to provide better service to their consumers and for that they are trying to adapt few alternative business strategies like cross channel retailing. However all these new methods have been causing them high cost margin. Retailers also struggle to establish their visibility in the supply chain. Generally the suppliers control the shipping and retailers are not provided with the detail information about their products when and in which accounting are getting shipped. Before implementing such alternative models of managing parcel of air freight the retailer must be sure that they are capable of managing such mode of business. They must take help from the TMS to manage the truck load (Ross). By applying a holistic approach they can control from the truck load to the ocean inter model. The retailers must continue adapting transportations closed loop approach (Govindan et al.). Network plan, network design coupling with procurement process will enable the retailers to monitor the order, lock the lanes and other day to day services. The lack of understanding between the suppliers and the retailers must be removed the purchase order level only, then only their visibility will be established. They must consider supporting the sustainability by utilizing the asset properly. The retailer can use advanced technologies like advanced routing and containerization. A company like JDA offers such multi model support and vendor supplier control and sustainable a sset utilization which the retailer can utilize for enhancing profit and a maintaining a better transportation system. References Govindan, Kannan, et al. "Fuzzy multi-objective approach for optimal selection of suppliers and transportation decisions in an eco-efficient closed loop supply chain network."Journal of Cleaner Production(2017). Ross, David Frederick. "Transportation Management."Distribution Planning and Control. Springer US, 2015. 687-760.

Senior Management Corruption in Fortune 500 Companies Essay Example

Senior Management Corruption in Fortune 500 Companies Essay In reality, the economy of every state, of every nation greatly involves a knowledgeable set of people one with skills to embark upon new ideas along with new technologies one in which principles and beliefs are profoundly instilled, and one with wholeheartedness of learning, and exploring – all without corruption. Corruption is problematical and in fact, definitions are uncommon, and the definitions of corruption scuttle the range from being excessively broad as to be present as comparatively ineffective to being excessively constricted and therefore be related to only restricted, uncommon, distinct cases (Arussy, 2005). Fortunately, other professions and domains manage the issue of corruption on a further customary root. Corruption is the exploitation of authority for personal and private profit. This plain characterization provides a fine point, as it recognizes three important elements in a deliberation of corruption: what was done; how; and by whom Public approaches to the explanation of corruption authorize a broader notion, permitting, for instance, ethical considerations to differentiate corrupt from the non-corrupt dealings. Lawful definitions of corruption frequently are narrow; what is usually supposed by corruption, it sets the weight on ethics and has its pedigree in traditional notions of corruption that sought not to recognize manners, but to critic the general political wellbeing of a culture as well as its institutions. Â  The benefits made through corruption can be excluding monetary. Corruption of senior management in Fortune 500 companies must therefore be well-documented to be able to maintain companies’ objectives and re-institute law and ethics in business. We will write a custom essay sample on Senior Management Corruption in Fortune 500 Companies specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Senior Management Corruption in Fortune 500 Companies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Senior Management Corruption in Fortune 500 Companies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer One of the major areas of intense movement in businesses nowadays is corruption by the senior management. Corruptions in any kind of business, in whatever company, produce altered forms and areas of market authority, conduct and customer utilization; therefore there is a must to pertain established principles against corruption to protect policy to these issues (Hornsby Kuratko, 2002). Corruptions by senior management affect Fortune 500 companies particularly in the following fields: Accounting Business Ethics and Morale Marketing Management Marketing Objectives Advertising Business IT Banking and Finance Business Results Human Resource Management Economics E-Commerce A quality of high technology is the rapid development of corruption in services and products, suppliers and further competitors. On the other hand, new technology can also induce a new imperative set of issues on competition. One analysis is that corruption must not be valid within these sectors. Some economists dispute that any market authority will rapidly be exiled by more advances in the new technology itself. A further analysis is that the corruption of the senior management can create a large accumulation of market authority and customer loss within a short time and it perceives a must for quick, well-built and efficient claim of corruption within these situations. The spirit of the discussion is not simply whether corruptions by senior management affect Fortune 500 companies could be rapidly removed in a conceptual mechanical sense, but the survival of efficiencies combined with conduct and property protections calculated to preserve and amass market authority guarantees that such acts are appreciably deferred from getting into market. Furthermore, the Internet was known to be a new world, the purported ‘New Economy’ wherein ‘dot.com businesses’ were perched to get the better of their old market rivals professed to be fixed down through high overheads as well as high-priced bricks-and-mortar circulation networks corruption is very common in this world. On the other hand, with the modern underprivileged performance of the e-commerce stocks within Fortune 500 companies, the preliminary assumptions regarding what the Internet is and what corrupt opportunities it puts forward are should therefore be disputed, over and above the reasonable possibilities. In taking a look at the risks of corruption, it is significant as well not to disregard the function of the end user. Particularly, there are several very considerable new issues on the subject of consumer security in Fortune 500 companies that requires deliberation by the policy creators – the senior management. The Internet as an instrument for allowing new entry, and further businesses to arrive at further customers and make more cross border transactions possible is only successful if it ethically and lawfully acknowledged by the consumers. Exchanges have subsisted ever since the dawn of culture. Exchanges and further dealings are formed in an endeavour to decrease costs, augment effectiveness, lessen production time and make easier business custom through eliminating severances and escalating incorporation and partnership through apt information (The Economist, 2006). Basically put, exchanges endorse competition in price; a supplier aggregates demand and buyers encompass admission to a superior supply with price intelligibility. Exchanges nowadays are propagating at a quick pace; exchanges differ in format, design, size and structure – all being corrupted by the senior management without our notice. Characteristics of corrupt transactions recognize challenges shaped by the unlawful exchanges in the milieu of possible competitions. Ethical beliefs and norms on anti-corruption pertain to success in Fortune 500 companies. Principles of camaraderie, justice and equity, and responsibility in the use of community resources as well as the performance of roles of public conviction are constantly appropriate. The senior management in Fortune 500 companies should forever be truthful, in view of the fact that truth is important to individual freedom and to reliable community among individuals. The senior management in Fortune 500 companies, using computer network messaging, have turned out to be broadly used and are intensifying all over the world as internet computer network grows. Where global corporations and law firm formerly required specific satellite or telephone links, internet network can eradicate the necessity for these further costs (Adler, 2000). The same is factual for law firms in areas with global needs that have made a network of connected local firms to assemble those needs. The ethical measurement of corruption relates not simply to the substance of any field or subject but to deep-seated structural and universal issues, frequently involving great questions of policy bearing ahead the circulation of refined technology and merchandise. Any business or company without corruption helps spur economic growth, supports business and commerce, benefits society by means of facilitating informed citizen involvement in the political practice – it draw people collectively for the search of shared intentions and goals, consequently helping to shape and continue reliable political communities. The dedications of senior management as well as personal convictions are the most significant drivers during business decisions to reinforce anti-corruption programs. The ethical convictions of the senior management of Fortune 500 companies are the most particular significant feature in their company’s resolution to progress an anti-corruption programme (Whiteley, 2000). Companies nowadays seldom mention an upshot rationale for anti-corruption programmes. As an alternative, they refer to lawful considerations as reasons for investing in anti-corruption proposals. Fortune 500 companies must have strict anti-corruption programmes; anti-corruption statements must be thorough and specific. For instance, labelling of corrupt practices, structures as well as procedures that support a company’s anti-corruption rule have to be updated every now and then. Anti-corruption policies are subject to high levels of assessment. Chief legal officers are more involved in these policies development, functioning, monitoring. Additionally, companies are currently more likely to seek external support in several aspects of their anti-corruption policy.

Persuasive Essay Samples For College Students

Persuasive Essay Samples For College StudentsThere are several persuasive essay samples for college students that you can take advantage of if you plan on writing a persuasive essay. Since every college student has different personalities and talents, you will be able to find an essay sample that fits your own personal style. While there are a number of types of essays that you can use, you will want to remember that every kind of essay requires a specific way to write and present it in order to be effective.Students are often encouraged to come up with a few persuasive essay samples for college students that they have come up with, but it is important to realize that this is just one method to writing a persuasive essay. If you do not feel like you are able to come up with anything new, do not worry about it too much. Many college students think of a good essay as a list of facts, but it is actually the way that you express these facts that makes a difference.You will find that ther e are various essays that you can use. One is the extra-curricular essay, which is an essay that you would like to write about a particular thing or topic. This may be something as small as a week's worth of fun activities or as big as a year's worth of parties. It is really up to you, but this is a great way to get your voice heard.Then, there are the essay samples for college students that involve a story. If you want to convey a message to a large group of people, you can find a number of persuasive essay samples for college students that incorporate a story. Another way to use stories in your essay is to start out with one and work your way through all of them until you find the best way to relate it to the information you want to convey. You can also use a story in an argument, so make sure that you know what you are talking about and how your voice will be heard before you start with the story.Finally, you may find persuasive essay samples for college students that focus on a specific topic. The two most common topics are religion and music. However, if you are already interested in religion, you can find persuasive essay samples for college students that allow you to explore this topic through song lyrics. Finally, if you are interested in composing music, you can find persuasive essay samples for college students that include musical pieces that can be performed.These are just a few of the many persuasive essay samples for college students that you can use. There are many more to choose from. Take some time to look around and get ideas. Even if you have no interest in writing, the right resources can help you get started.When it comes to persuasive essay samples for college students, you do not have to be limited to a story, essay, or song. You can still use these sources to help you get started, as long as you take some time to do some research and gather ideas before you start. This is a great way to ensure that you do not burn yourself out on the pr oject and that you are not getting lost in the weeds as you write.

Online Financial Services Essay Example

Online Financial Services Essay Example Online Financial Services Essay Online Financial Services Essay Introduction Services What are services? They are defines as concerned with performing tasks in and around households, business firms and institutions. Services industries are those domestic establishments which are providing some kind of services to businesses, governments and other organizations. FIRE, business and health services are the largest service industries. Business services include activities such as consulting, advertising, marketing and information processing. Categorizing service industries With these service industry groups, companies can be further categorized into those that involve transaction broking and those than involve a ‘hands on’ service. For instance, one type of financial service involves stockbrokers who act as the middle person in a transaction between buyers and sellers. Online mortgage companies refer customers to mortgage companies that actually issue the mortgage. In contrast, legal, medical and accounting industries perform specific hands on activities for their customers. In order to provide their service, these professionals need to interact directly and personally with their client. In this the opportunities for ecommerce are somewhat different. Currently doctors and scientists cannot treat patients over the internet but internet can at least assist their services by providing consumers with information, knowledge and communication. Features of service industries Knowledge and information intensity – With some exceptions such as providers of physical services such as cleaning, gardening and so on, and the most important feature of service industries is that they are knowledge and information intense. They process a great deal of information and employ people with the requisite skill and expertise. For example lawyers for legal services. However, financial services sector is not so knowledge intensive, but it requires much larger investments in information processing just to keep track of transactions and investments. In fact the financial services sector is the largest investor in information technology, with over 80% of their invested capital going to information technology equipment and services. For this reason, many ecommerce services are suited to ecommerce applications and strengths of the internet to collect, store and disseminate information and provide reliable and fast communication. Personalization and customization – Services differ in the amount of personalization and customization required in them to be delivered but still all types of services involve some amount of it. Services like legal, medical and accounting require extensive personalization – the adjustment of a service to the precise needs of a single individual or object. Others allow individual some personalization to choose from a restricted as in case of financial services. The ability of internet and ecommerce technology personalize and customize service or components of service is a major underlying the extremely rapid growth of ecommerce services. Further the amount of customization also depends on the ability of ecommerce or internet to do so. Online Financial Services The online financial services sector is a shinning example of an ecommerce success story. With the innovative, pure online firms have been instrumental in transforming the brokerage industry, the impacts of ecommerce have been somewhat less powerful in banking, insurance and real estate where customers are more likely to use the web for research, but conduct research for traditional suppliers. In addition, pure online financial firms are not yet profitable. The costs of marketing and technology have far exceeded the early estimates of experts. As in the retail marketplace, it is the multichannel financial firms who are showing the fastest growth and strongest prospects of long term revival. Online Banking and Brokerage Online baking was pioneered in the US by NetBank and Wingspan in 1996 and 1997 respectively. Traditional banks had developed earlier versions of telephone banking but did not use online services until 1998. Although late by a year or two, the established brand name banks have taken a significant lead in market share as measured by number of unique visitors. Same goes as true for the brokerage firms as well Early innovators such as E*Trade and Ameritrade had been displaced from their leadership positions by the financial industry giant Fidelity and discount broker pioneer Charles Schwab. Merrill Lynch, The largest brokerage firm in the United States did not develop an online presence until 2000, but it rapidly added new clients after going online. Online Banking Behavior and Preferences Any belief {or maybe even wishful thinking) that the Internet is just a passing fad seems to be laid to rest by a new survey from CashEdge in New York. The survey polled more than 400 consumers nationwide who use online banking. Eighty-five percent of the survey participants said they would bank only with an institution that offered online banking capabilities. In addition, 82 percent said they would use more online capabilities if offered to them. Other survey findings noted that 87 percent of respondents have more than one institution where they keep their money. Along those same lines, 71 percent said they would prefer not to have to use checks or cash, but would rather use online funds transfers. Online usage has also created more of a demand for speedier service. Seventy-four percent of those polled said they expect a new bank account to be available for use the same day that they sign up for it. The popularity of online banking has been based on both speed and convenience. A majority (66 percent) of those surveyed considered having to go to a branch to be a chore. At the same time, 88 percent said they tried to cut down on their visits to the bank while 75 percent said that if they could, they would never go for a branch and would instead do all their banking online. Granted, these are online banking customers being polled, so the results may be somewhat biased. Still, the numbers do show a growing reliance on the Internet as a means for banking. Finally, customers polled said they do have concerns regarding online banking. Close to 50 percent cited security as a main concern about conducting banking transactions over the Internet. In addition, 14 percent said the issue of security keeps them from banking online. Online Mortgage and Lending Online mortgage lending is a growing field that is starting to seriously compete with traditional ‘person lenders’. The process is relatively easy. The important thing to remember is to make sure your know the ins and outs of any and all online home mortgage loans prior to submitting your personal information. In some cases, youll find fees can be much cheaper than traditional in person lenders. Further, you may discover a greater range of mortgage loan programs available. Among the highlights of these programs may be lower rates of interest and flexible repayment terms. Also, borrowers with a bad credit history may find online mortgage lending to be the answer to their prayers. In most cases, web-based lenders offer more alternatives to those with less than desirable credit ratings. Finally, it can shave a ton of time off of the traditional in person route and having to wait (what might be several days) to be approved. The bonus here is if you dont get approved the first time, you can apply to another lender right away and like the first time; youll get your answer quick. Its important to realize that not all online mortgage lenders have representation in all states. Before taking the time to apply online, its in your best interest to make sure that the lender in question is represented in the state in which you reside. A big negative is unfortunately accountability. Its your job as the potential borrower to do your homework and keep on top of your application. Its wise to check out the company to make sure theyre legit and will be able to fulfill any promises they make regarding terms and interest rates. Unfortunately with both traditional and online mortgage lending, the mortgage loan programs offered may be more in lenders best interest than in yours. Again, its so very important that you do some research and comparison shopping. Just like with traditional in person lenders you want to make sure that it is in your best interest not theirs. Another possible negative is the fact that some lenders will charge you a fee prior to you learning whether or not your application has been successful. Please note that some traditional lenders also ask for a fee upfront. Borrowers beware there are many legitimate traditional and online lenders than dont insist on such a fee. Unlike any negative dealings you may have with traditional mortgage lenders, online mortgage lending isnt regulated by a governing organization in which you can complain to. The bottom line is that while online mortgage lending may be the way of the future, its also important to research the lender and ask the right questions. And, while applying for a mortgage loan online may seem like a great idea, dont discount the value of getting a comparison quote from a traditional in person lender. Financial portals A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. Financial portals are intended to give clients all the finance-related information they need. Often, the portals themselves will provide visitors with quotes, research, articles, analyst recommendations, etc. Financial portals may also provide links to various relevant sites that offer this kind of information. In addition, many financial portals provide email accounts, chat rooms and web forums. They provide their comparison with comparison shopping services, independent financial advice and planning. On the contrary, independent portal do not themselves offer financial services but act as steering mechanisms to online providers. They generate revenue from advertising, referral fees and subscription. Financial portals are a major source of visitors to major established financial services sites. For instance, about one third of visitors to Wells Fargo began their sessions at a financial portal. About 20% of visitors to established sites exit to portal sites. These have become so important to established online service firms that some providers like Charles Schwab and Citibank went ahead and have developed their own portals myschwab. com and myciti. om respectively, which permits users to personalize their financial web pages and provide account aggregation services. In general, financial portals do not offer financial services but instead they make their money from advertising and add to the existing online price competition in the industry. They are also a counter strategy of the large banking institutions to ensnare consumers into a single branded financial institution system with a single account and high s witching costs. Financial Portals are Hot, but for Whom? Suddenly-even by Internet time-the long sought one-stop financial portal has arrived. E-banking watchers are predicting that very soon, most big banks and some smaller ones will be sporting websites where customers can come to handle all of their financial affairs. Whats been missing until now is the ability to aggregate information and perform transactions that involve a customers accounts at rival institutions. Rich payoffs await the bank that can field a full-service financial portal. Its customers will likely visit he site more often, stay longer, and use more services. An early-adopting bank has the chance to become its best customers primary bank, where all financial information is consolidated into always-available net worth statements. For high-net worth customers, basic banking will likely evolve into online versions of what is now being called wealth management. Financial services industry trends The financial services industry provides four different types of services: sto rage and access to funds, protection of assets, means to grow assets, and movement of funds. These have been traditionally provided by separate firms. However, changing the institutional structure of the financial services industry has direct consequence for the online financial services. The trend contributing towards this cause is the industry consolidation or in other words movement towards integration financials services. Unlike in the traditional times, when banks were not allowed to operate in more than one area and industries like banking, insurance, brokerage were prohibited to from having significant financial interests in one another. Due to this concept only, some very small banks emerged in US in the past and it was also once called the most over-banked country in the world at that time. But this has long back faded into oblivion. Today the concept which is fast catching up is integration of financial services under one umbrella. Industry Consolidation and Integrated Financial Services Financial supermarket Most of the big online stockbrokers offer basic banking services like check-writing, automatic deposit, online bill payment and even A. T. M. cards. Now some companies are pulling out all the stops to convince customers to combine all their financial accounts with them, instead of keeping money at an assortment of institutions. This is called a financial supermarket. First, Bank of America announced that customers with at least $25,000 in traditional bank accounts - like checking, savings, money markets and certificates of deposit - could trade stocks free on the company’s brokerage Web site. Now some online brokers have sharply raised the interest rates they pay on checking accounts. Some time back, E*Trade Financial, based in New York, raised its top rate for checking to 3. 25 percent from 0. 8 percent. In late April, Charles Schwab bolstered its top checking rate to 4. 25 percent, from 2. 58 percent. Consumers have often preferred choosing their financial services a la carte - picking an interest-bearing checking account here, and a stock-trading site there. But financial services companies clearly have something else in mind. But there is dark side to it as well. Consumers should think carefully before combining their financial accounts with one company. The flip side to the convenience may be a decrease in investor privacy and data security. If a hacker broke into a company’s computers, then potentially they will know all of your sensitive information. People who combine their checking and brokerage accounts with one company should be prepared for cross-selling, the industry’s term for marketing many different financial products and services to customers. It is advised that customers should shop around before buying additional financial products, like mortgages and certificates of deposit, and not just to accept the rate at a company where they already have an account. Mortgages are a great example because the difference in cost over the life of a mortgage can be truly astronomical. The promise of internet and ecommerce technologies in the long rum would be to take the financial supermarket model one step further by providing a truly personalized, customized and integrated offering to customers based on their complete understanding in terms of his financial behavior, life cycle status, and unique needs. It will take time to accomplish this thing and also develop the technical infrastructure and consumer behavior toward a much deeper relationship with online financial service institutions. Online Financial Supermarkets. Dont bet on them. Big brokers would love nothing better, but consumers arent likely to bite At E*Trades Web site, you can buy shares in initial public offerings, do your banking, and get a 5% discount on a bottle of Le Parfum de Golf. At the American Express Co. site, you can pay your charge-card bill, trade stock, and book a flight to Kiev or Kuala Lumpur. Merrill Lynch Co. s ML. com will soon have $29. 95 stock trades, videos featuring Merrill market mavens, and an auction for diamond earrings. The Web sure is hip. But does anyone really want all this from a stockbroker? Financial-services companies have long wanted to create giant financial super markets. And financial services companies on the Web are no different. The goal has been to offer consumers banking, investments, insurance, loans, and financial planning in one convenient place. The strategy has failed for decades, and it will fail again online unless financial-services firms radically change the way they sell their products and learn to compete on price. The core difficulty for such would-be supermarkets is that they face a constant barrage of competition from companies pitching better products or services at lower prices. Just as online brokers squeeze commissions down to an average of $15 a trade, American Express offers free buy orders for customers with balances of at least $25,000. Just as portal Yahoo! Inc. popularizes a Visa card featuring 5% discounts for online purchases, startup NextCard Inc. offers similar shopping bargains plus a choice of cards with various rates and terms. And you can design the picture on your card yourself. For free. Funneling The truth is, it probably doesnt hurt to offer sideshows such as earring auctions and perfume discounts. The problem for the one-stop shops comes when they try to funnel online customers into high-priced, proprietary products, which may well alienate Netizens accustomed to saving money online. Those potential customers will click through and be on their way, and its not hard for them to find a better deal. At E-Loan Inc. , you can compare low-rate mortgages from countless lenders. At least a dozen sites offer insurance shopping services. And new firms such as VerticalOne Corp. and a host of others let you maintain multiple online financial accounts from different companies at one Web site. Internet or not, people dont want to be tied downsomething online brokers know all too well. Many customers use online trading as a mere adjunct to their primary accounts at full-service brokers. And if they arent satisfied with one online broker, theyll switch to anotherand complain about their problems on message boards for all to see. A Forrester Research study found that only 16% of consumers are willing to keep their assets in a single institution. And theyre not eager to give up choice, especially when new financial products and services pop up online all the time. The Web is a world where consumers are in charge, and they can move money in an almost frictionless environment, says Forrester analyst James Punishill. Its easy to understand why the financial industry is rushing to develop large-scale financial Web sites. Consumers want to consolidate their financial lives on the Webbut not with just one firm. Successful online companies wont try to pigeonhole customers into the same old proprietary products they sold pre-Internet. Theyll offer a broad selection, use the power of the Web to facilitate comparison shopping, and explain why a premium is justified for higher-priced products. In financial services, the Net has changed the rules. Account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. This may include a database or may be provided through screen scraping where a user provides the requisite account-access information for an automated system to gather and compile the information into a single page. Usually this database resides in a web-based application or in client-side software. While such services are primarily designed to aggregate financial information, they sometimes also display other things such as the contents of e-mail boxes and news headlines. One of the first major account aggregation services was Citibanks My Accounts service, though this service ended in late 2005 without explanation from Citibank. Much has been said in the financial services and banking industry as to the benefits of account aggregation principally the customer and web site loyalty it might generate for providers but the lack of responsibility and commitment by the providers is one reason for skepticism about committing to those same providers. The service helps users to manage their money on the Internet (typical desktop alternatives include Microsoft Money, Intuit Quicken etc) in an easy to use manner wherein they get functionalities like single password, one-click access to current account data, total net worth and expense analysis etc. Multiple U. S. financial institutions and credit unions are providing the service, however most of the time a vendor, such as Yodlee or Vertical One, is the technology solutions provider. Both these are the leading account aggregators. They use the screen scrapping technology and software tools to pull information from upto one thousand different financial sites. A smart mapping technology is also used sometimes so that if the underlying websites change, the scrapping software can adapt and still find the relevant information. Account aggregation has evolved with single sign-on at most major banks such as Bank of America. With SSO (usually implemented via SAML) major financial institutions are now expanding their aggregation services into new areas. Rich Presentment (getting all the information about a bill that you owe) is a service that uses Aggregation extensively, and can be seen at AOL, using AOL Bill Pay. Aggregation also powers applications such as Funds Transfer, New Account Openings, Card Based Bill Pay and so on. Independent Financial Advisors are another group that account aggregators are beginning to focus their attention. Having seen increasing competition from the wirehouses and breakaway brokers, positioning themselves as their clients primary advisor is not as easy as it once was. Account Aggregation should be able to help many of these advisors gain the competitive edge by providing a look into their clients held-away and non-managed accounts. Aggregators such as Advisor Exchange and CashEdge specialize in working with the advisor industry and provide historical, transaction level data that is normalized and reconciliation ready The main consumer and regulatory issues generated by account aggregation services include: Disclosure including disclosure about the risk of using an aggregation service; Liability for unauthorised transactions it is important to determine for losses caused by unauthorised transactions. For example, under the current regime, a consumer who discloses their password or PIN to an aggregation service may lose the protection offered by the EFT Code if an unauthorised transaction occurs; Liability for other losses for example, losses caused by misrepresentations, inaccurate information, poor quality of the service, downloading software, interruption of the service, etc; Privacy – e. g. ho has access to personal information, and what will the information be used for; Security especially the security of any location where account information is stored by the aggregator; consumer education; Complaints and dispute resolution most aggregation services surveyed do not appear to provide internal or external complaints resolution processes; Cost of aggregation services, and debt recovery; Cross-jurisdictional issues for example, what are the implications if the ggregator is based in another jurisdiction; Regulation of aggregators should they be subject to the same pru dential supervision framework and other regulations that apply to deposit-taking institutions and/or other financial institutions? ; The implications of the Financial Transaction Reports Act, which is designed to deter money laundering and tax evasion. Security Understanding Consumer Preferences for Authentication Methods Would online banking increase if financial institutions provided their customers with ways to enhance security? A new survey TriCipher Consumer Online Banking Study, suggests that may well be the case. Conducted by Javelin Strategy Research, the survey found that 31 million U. S. consumers would begin banking online and another 39 million consumers would increase their online banking activity if offered free identity protection software by their banks. In fact, this authentication method was chosen by 53 percent of respondents. The second most popular authentication method- chosen by 33 percent of survey respondents- was biometrics, which uses a dedicated hardware device to verify such physical characteristics as a fingerprint. The survey also tracked consumers preferences of the following authentication methods. E-mail or SMS One Time Password (21 percent): An e-mail or text message is sent with a random second password. OTP Token (20 percent): A small electronic device provides a constantly changing password. Out-of-Band (16 percent): A call is made to a registered phone number, requesting that a user enter his or her password over the phone, Peripheral Device Recognition (15 percent): Connection of a removable device (e. g. iPod, cell phone) owned by the consumer Scratch-off Card (11 percent): A card containing several PINS that are scratched off one at a time Exploring the Electronic Vault With electronically signed documents growing in popularity, especially for processing mortgages, banks are facing the question of how to protect and manage them. Banks must provide airtight security, yet at the same time make the documents accessible to a broad range of personnel. Electronic vaults can solve the problem, according to ‘Advanced Electronic Vaulting Solutions. A white paper from eOriginal, a Baltimore based provider of electronic document solutions. An electronic vault, as defined in the companys white paper, manages the legally binding. Authoritative Copy of an electronically signed contract or other document, and possibly its related transaction documents, in a secure location where it is held and transitioned during the entirety of its lifecycle, Electronically signed documents have been legally viable since 2000, when President Clinton signed the Electronic Signatures in Global and National Commerce (E-SIGN) Act into law. When an electronic vault is in place, once a document has been e-signed, a final copy is immediately sent to an electronic vault, where access can be controlled. From then on, a log will keep track of anyone who accesses the document, including such functions as printing or copying. An electronic vault can provide additional benefits beyond chose of security and access. For example, using electronic vaults can demonstrate that an institution has an original, untampered document, which enhances the integrity of the document. In addition, the secondary market requires that documents be stored in a secure, closed system, and electronic vaults fit the bill. An effective vault system can even indicate the new owner of a loan document, without tampering with the original document in any way. When judging the effectiveness of an electronic vault system, financial institutions should consider several requirements: 1. All documents should be protected, encrypted and time-stamped. 2. Privileged access rights to the documents should be maintained and enforced. . A complete audit trail should be kept for each document, including document access and transfer of ownership. 4. The document should be tested on a regular basis to determine whether any alterations have been made. 5. A vault system must be able to destroy an electronic original in the case where a paper copy becomes the legal version. Financial industry requirements for better authentication The success of this Web-based channel has bred new problems, pri marily in the orm of new types of online fraud, online versions of traditional fraud, or offline fraud that leverages vulnerabilities in online services. So far, the financial industry has been remarkably effective at controlling this fraud,1 but financial institutions cannot assume that current fraud-control measures will always be effective, and in any case the public visibility of fraud schemes such as phishing is eroding consumer confidence in the safety of on-line financial services, which troubles both financial institutions and their industry regulators. One fundamental issue is authentication. Consumers are not as sure as they should be of the legitimacy of the Web sites they interact with, while the ability of financial institutions to authenticate their customers is being undermined by phishing schemes and other attacks aimed at stealing passwords and other sensitive information. The net effect is that people are losing confidence in the safety of conducting their financial business on the Web, which will have a negative impact on the growth and adoption of online financial services no matter how effective the financial industry is in controlling actual fraud losses. Government regulators, of course, are also concerned about this trend. With these concerns in mind, the Financial Services Technology Consortium (FSTC) last year initiated a project aimed at defining â€Å"Better Mutual Authentication† practices for online delivery of retail financial services. This project has brought together major financial institutions from the banking and securities sectors, along with leading technology vendors, industry associations and observers from government agencies. New insights have emerged from this Project regarding the nature of authentication in a Web/Internet context, including the conviction that- although the necessary technology is largely available in theory- current Web authentication practices must be substantially improved if customer confidence is to be restored. FSTC’s BMA Project encourages and supports efforts by W3C to coordinate broad-based initiatives to improve Web authentication, and Project participants are likely to contribute to, or leverage, W3C’s initiatives. From the FSTC BMA Project’s perspective, requirements need to be addressed in the following eight areas: 1. Usability 2. Mutuality 3. Credibility2 4. Scalability 5. Availability 6. Interoperability 7. Flexibility 8. Adaptability For financial services, the first three- usability, mutuality, and credibility- are the core requirements. Usability is vital. Embedded in the hardware, operating system, browser, and internet services available today in the average computer is a truly impressive array of security technology, but it’s nearly impossible for the average consumer to make effective use of it, or even to determine if it is working correctly. Customer confidence in financial services can only be achieved if customers are able to confirm through trustworthy user interfaces that their Web interactions are safe. At the same time, customer safety depends on protection from impostors who may attempt to impersonate either the customer to the financial service, or the financial service to the customer; hence, the need for mutual authentication. Credibility2 of authentication requires that both customer and financial institution confirm the authenticity of the other party using something better than just passwords or other shared secrets. Beyond these core requirements, no authentication solution can be effective for retail financial services unless it can scale to support the entire consumer population. And consumers will resist adopting any new measures that impact availability of services, or that are too likely to break. Given the diversity of consumer needs, various authentication techniques will be required, and so interoperability is essential. Evolving consumer requirements indicate that flexibility is necessary to allow consumers to utilize multiple platforms in an anywhere, anytime online context. And, emerging threats and ever more sophisticated attacks from increasingly organized adversaries implies that viable solutions must be adaptable to a range of new threat scenarios. FSTC’s BMA Project participants recognize that the problems of Web authentication cannot be addressed by any one organization, or even by an entire industry acting alone. Instead, a coordinated approach is required involving: Operating System (OS) developers Providers of end-user computing platforms- e. g. PCs, mobile devices Browser developers/vendors Web server software vendors Vendors of authentication techniques PKI service providers Web content providers- e. g. , financial institutions Internet Service Providers (ISPs) Standards-setting organizations Industry associations Government agencies End users- e. g. , consumers, citizens W3C is well positioned to bring together many of these players to establish common objectives and align their respective strategies. Financial Industry Re commendations Leverage PKI More Effectively – PKI alone, as currently implemented, does not allow a user to distinguish between a financial institution Web site and one that, although belonging to an impostor, has nevertheless obtained some sort of certificate and supports https sessions One possible approach would be for the financial industry to establish new guidelines for a restricted subset of the existing certification hierarchy that would issue certificates only to financial institutions, and then to add new indicators to the browser â€Å"chrome† that would let the user know whether a site’s certificate is certified by this â€Å"strong† certification hierarchy. Engage End Users in Mutual Authentication Perhaps the greatest concern with current Web authentication practices is that end users- the customers of financial nstitutions- are severely handicapped in their ability to know if the Web site they are viewing is legitimate or an impostor. The financial industry would like to see new approaches to Web authentication that actively engage the user in authenticating Web sites (financial services) as well as providing stronger evidence of the user’s authenticity. This will require active, two-way communications with users that provide consistent, understandable interfaces into the complete authentication process. However, user engagement should not become an additional burden or hurdle to be overcome. Instead, users should, at the very least, be given a dashboard they can trust and that provides the information they need when they need it, including useful alerts or warnings. Achieve Synergies with Alternative Authentication Techniques The financial industry recognizes that reliance on passwords alone is no longer adequate, given the current threat levels. Furthermore, the industry must address new regulatory guidance3,4 that calls for use of alternative authentication techniques that protect consumers from password theft and abuse. Multi-factor authentication is widely viewed as one of the more effective alternatives available to financial services providers. However, there are significant challenges with rolling out new authentication techniques that will adequately scale up to the many millions of consumers that already use online financial services. In particular, consumer adoption is a major concern. Improve Techniques for Managing Passwords No matter what new authentication techniques get deployed, the financial industry will continue to utilize passwords and other shared secrets that can be exchanged bi-directionally between customers and Web sites. Browsers already provide password management tools for users, and increasingly serve as the preferred â€Å"password vault† for end users. Unfortunately, this concession to user convenience also heightens exposure to potential abuses, and financial institutions are increasingly concerned about the mounting threats to their financial services and customer interests. Browsers also provide various means for end users to enter passwords through special-purpose dialogs, though all of these mechanisms are considered deficient in one way or another. The financial industry would like to see new password entry procedures incorporated into browsers that require prior establishment of TLS (SSL) sessions and that enforce effective security practices for use of passwords. Growing importance Small-biz adoption of online banking to surpass 50% More than half of U. S. small businesses will have adopted online banking by the end of 2007, according to a new research report. Small-business use of online banking grew dramatically from 1998 to 2007, and Tower Group, a Boston-area research firm focused on the financial-services industry, estimates a further 10-percent penetration by 2010. Despite the growth and revenue potential of small-business online banking many financial institutions continue to under-serve this vital market, Tower Group says its research shows. While 95 percent of banks in the U. S. offer a dedicated small business online-banking product. Many banks simply provide a re-branded version of consumer online offerings - rather than creating more advanced features that meet the unique needs of small businesses, the research firm contends. Small-business owners straddle the line between consumer banking and corporate cash management. They appreciate the simplicity of retail online banking, yet value the features such as multiple user access and electronic payments found in corporate online banking, Tower Group contends. Banks, credit unions and emerging non-bank competitors of all sizes are chasing the small business market in an effort to capture a share of this expanding segment, said Patricia Hines. senior analyst in the Wholesale Banking practice at Tower Group and author of the research. Highlights of the research include: In order lo retain existing small business customers, banks offering minimal features must expand online capabilities. Tower Group research found that less than 50 percent of banks include electronic payments in their small business online banking offering. At the upper end of the feature set, Tower Group expects banks to increase integration with other high-value online services such as employee payroll, merchant services, and investment management.