Computer Security Breaches and Hacking In Organizations

Question: Discuss about the Computer Security Breaches and Hacking In Organizations. Answer: Introduction Kaspersky Lab Computer Security Breaches In recent times the cyber security environment has grown due to events originating from cyber hacking attacks focused towards organizations data. Many organizations are currently taking precautions to prevent their valuable data from these attacks (Ritter, Wright, Casey Mitchell, 2015). Cyber-attacks have huge economic implications to organizations. Example of a computer security breaches that occurred was that of the Russian firm Kaspersky lab in October 2015. The firm is well known maker of antivirus software useful in protecting computer systems from virus attacks. The management reported that the security breach was directed to their network and was believed to have been caused by the company agents (Schou Hernandez, 2014). The aim of the attack was to gain access to company information that covers customer details and gather data relating to company new technologies and services. How the attack worked it included agents who got access to the company data storing unit that was managed and controlled by independent agency providing password management services Lass Pass. Many reported that it was an example of security firms being knocked around (Streeter, 2015). The case could have had the worst implication to Kaspersky because customers could have lost their confidence towards the security firm products. A company that was supposed to secure their data had failed. The Kaspersky management was able to identify the security breach before it had created any risks. The technical team was able to detect intruders in their servers and blocked them. Data information for customers was secured during that period of incursion. Security passwords were immediately changed and synchronized to the system. The management also integrated the attack to be part of its monitoring system. The management of Kaspersky was amazed with the breach of security because the company works under a licensing agreement and continuously works to develop new tools that can counter emerging attacks. They also reported that the attackers had suffered after losing expensive technology which they had developed for several years (Stroz, 2013). The company since has employed a new solution review that involves planning and assessments. The company manufactures examples of breaches and risks that might occur to a computer system and look for solutions for them. New methods and software tools are developed in order to have a forward solution to its customers. A cyber security insurance fund was created by the company to cover legal implications of security breaches on personal data and software failure (Schou Hernandez, 2014). They have established a discovery recovery system to help in forensic and quick response to cases of computer security breaches. Although much didnt happen in this case but it was a learning lesson that all organizations can be susceptible to computer security related risks and ensuring privilege protection is done (Streeter, 2015). JP Morgan Chase hacking Case (2015) The increase in IT use in many organizations resulted to explosion of internet users and high rate of cyber-crime. Cyber-crime related activities have become the greatest threat to billions of internet users and firms connected to the network. Organizations are losing millions of dollars and valuable data from cyber related crimes (Krausz, 2014). Example of a massive data breaches cyber-crime ever to have occurred in the United States was that of JP Morgan Chase hacking case of 2015. The company is one of the world leading banks that control a huge asset base and customer base. Federal authorities reported that in 2015 the JP Morgan Chase bank was hacked and the attackers gained accessed to 80 million customer accounts and 7 million small million business accounts details. Although no money was stolen the attackers gained accessed to valuable information containing customer personal details. The attackers were planning to use the data to start their own business brokerage business. The implication of getting access to such data was severe because it exposed customers to several risks from the attackers (Schou Hernandez, 2014). No explanations were fully given on how the hackers were able to carry out the attack. But several computer security analysts explained that the attackers were able to break into the banks computer server and disassociated the security passwords. That allowed them to get accessed to customer personal contact informations available within the computer main server master folder. They were not able to obtain security details of credit cards and debit cards which were unavailable in the system. The customer data collected was still useful to the attackers for they were used in pump and dump stock manipulation schemes. The personal information of targeted clients were used by the attackers to persuade them buy stock from fraudulent stock exchange market, and later existing from the scheme after receiving payments. The manipulative business generated millions of payday to them (Stroz, 2013). The federal authorities reported that out of four attackers only three were prosecuted for unauthorized access to computers, theft and other counts. The main actor was not found and that could pose more computer security risks to organizations. There were several recommendations that computer security analysts argued that JP Morgan Chase management could have done to prevent the hacking case. They should have added a verification protocol in addition to the security passwords to only allow a specified number of persons to the data (Easttom, 2016). Secondly they should have adopted a cloud based solution by contracting two independent agencies for hosting their data and a provider of password management service agency to keep custody of password security details. In addition the banks own management could have enhanced its data security by employing encryption to its master folder and using password reminder phases that could have mitigated the computer security risk (Krausz, 2014). References Ablon, L., Libicki, M. C., Golay, A. A. (2014). Markets for cybercrime tools and stolen data: Hackers' bazaar. Rand Corporation Retrieved on 12/04/2017 from: https://scholar.google.com/scholar?q=types+of+computer+security+breaches+and+hacksbtnG=hl=enas_sdt=0%2C5as_ylo=2013 Easttom II, W. C. (2016). Computer security fundamentals. Pearson IT Certification. Retrieved on 12/04/2017 from: https://scholar.google.com/scholar?as_ylo=2013q=computer+security+breacheshl=enas_sdt=0,5 Krausz, M. (2014). What is a breach? In Managing Information Security Breaches: Studies from real life (pp. 54-64). IT Governance Publishing. Retrieved on 13/04/2017 from: https://www.jstor.org/stable/j.ctt14tqch6.10 Krausz, M. (2014). General avoidance and mitigation strategies. In Managing Information Security Breaches: Studies from real life (pp. 65-109). IT Governance Publishing. Retrieved 0n 12/04/2017 from: https://www.jstor.org/stable/j.ctt14tqch6.11 Ritter, A., Wright, E., Casey, W., Mitchell, T. (2015, May). Weakly supervised extraction of computer security events from twitter. In Proceedings of the 24th International Conference on World Wide Web (pp. 896-905). ACM. Retrieved on 13/04/2017 from: https://scholar.google.com/scholar?as_ylo=2013q=computer+security+breacheshl=enas_sdt=0,5 Schou, C., Hernandez, S. (2014). Information Assurance Handbook: Effective Computer Security and Risk Management Strategies. McGraw-Hill Education Group Retrieved on 12/04/2017 from: https://scholar.google.com/scholar?as_ylo=2013q=computer+security+breacheshl=enas_sdt=0,5 Streeter, D. C. (2015). The Effect of Human Error on Modern Security Breaches. Strategic Informer: Student Publication of the Strategic Intelligence Society, 1(3), 2. Retrieved on 12/04/2017 from: https://scholar.google.com/scholar?start=10q=computer+security+breacheshl=enas_sdt=0,5as_ylo=2013 Stroz, E. (2013). Computer Crime Incidents and Responses in the Private Sector. In Hsu D. Marinucci D. (Eds.), Advances in Cyber Security: Technology, Operations, and Experiences (pp. 200-206). Fordham University Press. Retrieved on 13/04/2017 from: https://www.jstor.org/stable/j.ctt13x07xx.16

Challenges in Accounting in Global Finance-Samples for Students

Question: Discuss about the Challenges in Accounting in Global Finance. Answer: Introduction The primary functions of financing have always been trying to control costs, making and maintaining proper budgets. Finance department of any organization is laden with the task of planning a budget which will dictate the financial transactions and operations of the companies. Another important role of finance is internal auditing. This is an essential aspect of business running, which ensures the organisations are operating in a correct manner (Burns Needles, 2014). However, in the age of globalization, as organizations are expanding rapidly and are operating business overseas the finance departments and auditing firms are being faced with new and more intricate challenges every day. Their tasks and responsibilities transcend from being burdened with simple capital structure making to profit repatriation policies of the companys subsidiaries. Capital budgeting decisions should reflect not just the divisional differences, but also has to show the complicacies that arise due to the d ifferent currencies, exchange rates, taxation policies and the different laws and regulations in different countries (Prencipe, Bar-Yosef Dekker, 2014). The companies incentive system must be able to assess, acknowledge and reward the actions and operations of the managers who work under different economic and financial settings across the globe. This paper will be aimed at 3xamining the role of the accounting strategies in the environment of globalization and try to identify the challenges that are faced by the accounting firms. Project objective The prime objectives of this paper are: To understand the impact of global trends in the globalization setting To observe the changing accounting practices in todays integrated world, and To indentify the key challenges of accounting in todays global economy Project scope The paper would try and identify the challenges of accounting in global finance and then go on to give probable solutions that would help firms to execute auditing and accounting for the global companies in a smoother way. The paper, once completed would have a scope of delivering new strategies to the global companies that would make global finance accounting easier and devoid of complicated hassle. Literature review The rise of the ideas and theories on globalization has brought with it many other dimensions and new parameters were introduced which had a significant impact on the accounting practices as well as the accountants in the globally functioning organizations (Rathee Kapil, 2015). Compared to the traditional accounting, modern auditing and financial accounting firms have taken on new identities and new roadways have opened up. While the traditional form of accounting was concerned with simple auditing and financial management, modern financial accounting has sprouted new branches and a lot more aspects have been included in the whole process, some of which are corporate governance, anti-corruption laws, regulation standards, accountability in large multinational corporations (MNCs) and many more (Bebbington, Unerman O'Dwyer, 2014). The factor that makes all of these even more complicated is the fact that, all these parameters have to be adhered to under different laws and regulations in every country, hence no uniform code of conduct or action plan cannot be devised easily. Accounting is a neutral take on the financial and economic conditions of a given organization or industry. The economic powers and factors that are at play in the setting of different countries all are incorporated in these financial reflections (Johnson, 2014). The accounting practices and the outcomes give an organization the necessary insight to make vital economic and budgeting decisions. The figures that are presented by the accounting departments of the organizations, shape the decision making process of the companies. Internal audits help companies to understand and identify the areas or countries which would offer them cheap but skilled labors. Knowledge like this is important to make decisions which would enable companies to curb costs and increase their profit margin (Gereffi Fernandez-Stark, 2016). If the companies wish to stay ahead of the competition in the fierce market conditions of todays world, they must make the right decisions that would enable them to optimize their operations which would keep them on top of the industry. To make these decisions, it is vital for the organizations to keep innovating and be creative about the operations in order to be sustainable (Ebrahim, Battilana Mair, 2014). While making the decisions it must be kept in mind that the organization has all the necessary information that are generated by the accounting department. Even excluding the aspect of globalization, there a number of other factors that affect the role of accounting in organizations. The advent of modern technology and its applications have affected every aspect of business operations, including management and financial auditing. In the era of free information and technology, the ideas about how products and services are delivered to the consumers have changed drastically, forever altering the business operations of every organization. Evolving market competition has prompted organizations to adopt new methods of management accounting which comprises of innovative ways like Just In Time (JIT), Total Quality Management (TQM) and other similar methods. Previously, organizations were only faced with competition from local or at most, the national markets, but today every company has to overcome the obstacles that are created by overseas companies as well (Stauffer, 2015). There are several trends that are practiced in managerial accounting processes in the context of glob al organizations. Green accounting: With the threats of global warming and environmental pollution becoming apparent every day, it is increasingly becoming a popular concept of a business organization that will take care and maintain a balance between the environment and the operations. It has become of paramount necessity to keep its operations clean and environment friendly if an organization aims to keep a good relation with every customer and even the governmental bodies of the country it is operating in (O'Connor, Sexton Smart, 2013). this new aspect and requirement of the customers have put accounting and analytics departments in an even more challenging position as they are tasked with coming up with a budget and economic plan that would enable the companies to attain Green GNP (Bodie, 2013). Investing in projects and other areas which facilitate protection of the environment has become one of the key features of every global organization. Harmonization: In a time where many companies run several businesses in many countries, it is very important to have a uniform accounting measure and process for every organization which would help every company to keep track of their own financial operations more easily. It prime objective of international harmonization is to make the different financial information from different countries comparable so that companies can efficiently assess their own performances in every country and identify where they need to work on. Literature gap Although the previous work has been successful in identifying the different challenges that create an obstacle while accounting for finance in a global context, the work is mainly focused upon the statistical interpretation of the data. The ethical and moral grounds of the issues have been barely talked about in depth, even though these issues are just as important to understand how the behavioral pattern of the accountants are affected. This research would be more concerned with the ethical aspects of operating a business in the global context and financial accounting under the setting of a globalized era which makes the accountants face situations of moral dilemma. This particular gap will be aimed to be solved in the following paper. Hypothesis Null Hypothesis: The challenges faced by accounting in global finance are going to help the business organizations if properly met with Alternative hypothesis: The challenges faced by accounting in global finance are not helpful for organizations even if they are met with the right solutions Research design A number of tools and methods can be used to make sure that the research reaches its desired goal of identifying the challenges of global finance accounting. Two different types of research methods are given most importance in a broader sense: Qualitative research: This is a set of methods that are non-numerical in nature and are used for social science researches. These methods target specific populations and help to interpret the collected data that gives a comprehensive idea about the social life. Qualitative research methods help researchers to derive behavioral pattern from the results of the surveys, which help to predict actions and behavior of the individuals and organizations in the future. This type of research helps the researchers identify the parameters and the attributes that shape the general behavior of the subjects and the population behavioral pattern is derived based on that approximation (Liamputtong, 2013). The qualitative methods that are to be used in the current research have been selected to be: Direct observation: This is the simplest method of qualitative research which involves the researcher to observe the activity of the subjects without interfering in the process. The research at hand would be employing the researcher to first understand how the accountants of the global companies operate and what are the methods and tools that are used as well as the limitations of those methods. Questionnaire: The accountants will be given a set of questions that will talk about different issues that they face while working: the issues regarding international laws and regulations and the drawbacks of the current methods of global finance accounting. Interviews: The research will then be followed by in depth interviews which would help the researcher to understand the issues each individual faces while working as a management accountant in global organizations. It must be remembered that qualitative data can be tampered with very easily and may yield biased results. Moreover, since this type of research method is the primary focus of this paper, these will be used extensively and a behavioral pattern will be tried to retrieve by trying to understand how the accountants react to certain situations (Clemence, Doise Lorenzi-Cioldi, 2014). Quantitative research: This type of research method deals with statistical interpretations of the gathered data through using mathematical tools which categorize answers and coming up with definitive patterns which back up the qualitative results. This research method deals with numerical data and the results are solidified by computational techniques. Specific conditions and phenomenon are given logical explanation through scientific research. The current research would take and apply a number of quantitative research methods to observe and identify a pattern that the accountants feel are the biggest challenges in global financial accounting process. In many cases, secondary data are the only source of collected data which form the basis for quantitative research analysis. Surveys are also used to gather data which would provide with the necessary parameters to calculate and analyze. The accountants and the organizations will be asked to provide data regarding the biggest and the most frequent issues that they have faced while making internal audits or managerial accounting, in order to understand and decipher a pattern for the problems and the most difficult part of the process (Elo et al., 2014). The statistical results will be immensely helpful in terms of establishing the assumptions in a firmer way. Research limitations The biggest limitation of the research is, which is a problem for almost every survey ever, is that the sample population size is too small (Brinkmann, 2014). While it may be easier to calculate the smaller size of data, the opinions and perspectives of every individual cannot be known from just a few. Small sample size can often lead to results being riddled with misinterpretations and laden with false conclusions (Geppert, Matten Williams, 2016). On the other hand, it is virtually and physically impossible for any research to survey entire populations and collect data from everyone on the planet. The problem of random sampling will always remain and the current research is not devoid of the same problems. Time schedule Figure: Time schedule chart Source: created by author Conclusion From the above discussion it can be concluded that the problems faced by the global companies in the context of financial accounting are very much an issue and the current research would come in handy to identifying the most important and biggest problems. The research has selected the methods in such a way that will facilitate in this regard and would most definitely help to come up with probable solutions that would be of use to reduce the challenges. In the era of globalization, companies have to adhere to a lot of aspects and in order to maintain a good position in the industry and a good reputation, every single of these aspects have to be met References Bebbington, J., Unerman, J., O'Dwyer, B. (Eds.). (2014).Sustainability accounting and accountability. Routledge. Bodie, Z. (2013).Investments. McGraw-Hill. Brinkmann, S. (2014). Interview. InEncyclopedia of Critical Psychology(pp. 1008-1010). Springer New York. Burns, J. O., Needles, B. E. (Eds.). (2014).Accounting Education for the 21st Century: The global challenges. Elsevier. Clemence, A., Doise, W., Lorenzi-Cioldi, F. (2014).The quantitative analysis of social representations. Routledge. Ebrahim, A., Battilana, J., Mair, J. (2014). The governance of social enterprises: Mission drift and accountability challenges in hybrid organizations.Research in Organizational Behavior,34, 81-100. Elo, S., Kriinen, M., Kanste, O., Plkki, T., Utriainen, K., Kyngs, H. (2014). Qualitative content analysis: A focus on trustworthiness.Sage Open,4(1), 2158244014522633. Geppert, M., Matten, D., Williams, K. (Eds.). (2016).Challenges for European management in a global context: Experiences from Britain and Germany. Springer. Gereffi, G., Fernandez-Stark, K. (2016). Global value chain analysis: a primer. Johnson, P. F. (2014).Purchasing and supply management. McGraw-Hill Higher Education. Liamputtong, P. (2013).Qualitative research methods. O'Connor, J., Sexton, B., Smart, R. S. (Eds.). (2013).Surface analysis methods in materials science(Vol. 23). Springer Science Business Media. Prencipe, A., Bar-Yosef, S., Dekker, H. C. (2014). Accounting research in family firms: Theoretical and empirical challenges.European Accounting Review,23(3), 361-385. Rathee, S., Kapil, S. (2015). AN INVESTIGATION INTO RECENT TRENDS AND CHALLENGES OF ACCOUNTING'CLIMATE INSTRUMENTS'.Journal of Services Research,15(1), 7. Stauffer, A. (2015). Introduction. InVirtual Victorians(pp. 1-8). Palgrave Macmillan US.

Why I Wish To Pursue Higher Education Essay Example

Why I Wish To Pursue Higher Education Paper I believe myself to be a lifelong learner. Therefore, I consider both formal education and practical experience to be essential for my personal growth. Besides, I am convinced that it is education alone that is necessary to solve all problems of the world. Learning is the preliminary step in the right direction – that is, to solve all world problems. I trust the fact that learning can improve personalities, and refine human behavior as well as attitudes. Before completing my Bachelors degree in Interior Design from a private college in Saudi Arabia in the year 2005, I spent the summer of 2004 working as a trainee for a local interior design establishment. It was a marvelous experience, as it helped me muster my confidence to successfully complete my senior project in order to attain my degree. My senior project involved designing a Diving Center from scratch, all by myself. It was a creative experience that I thoroughly enjoyed. Moreover, it taught me a great deal about my own potential, as well as intelligence. Most importantly, I learned that I am capable of initiating and completing large-scale creative projects on my own, whereas countless others might experience lack of confidence in similar situations. Perhaps it was my experience with immense responsibility that inspired me to enter the world of business and finance in July 2005. I have been working with HSBC as a Customer Service Representative since. It is my job to guide customers to the right products after inquiring into their needs. I have been trained as a Teller. We will write a custom essay sample on Why I Wish To Pursue Higher Education specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Why I Wish To Pursue Higher Education specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Why I Wish To Pursue Higher Education specifically for you FOR ONLY $16.38 $13.9/page Hire Writer What is more, I have been honored with a couple of awards from the bank. My managers have often praised me as a responsible banker with high social intelligence. Apart from managing my responsibilities in the workplace, I have taken a number of computer courses after completing my degree. I have also successfully passed the Test of English as a Foreign Language. In addition, I have continued my reading habit that encompasses a large number of subjects. At present, I am prepared to join a higher education institution. I would like to attain a higher degree so as to move forward in my career. I am confident that higher education would open up a new world of opportunities for me. Additionally, it is vital for me to continue learning before I am able to establish myself in a position to educate the others. While a huge number of people might desire higher education only to earn higher salaries, I believe in serving the community with the knowledge that I have gathered. My successes at academic institutions and work have motivated me to take up leadership roles in future. I envision myself as a high achiever. Hence, I would not only endeavor to perform brilliantly at my higher education institution, but also as a professional after completing a higher degree. I believe that it is only lack of education that is keeping humanity from taking the next step in its evolution. The wars, the famines, and the poverty around the globe are lessons that are prompting us to move ahead with enlightened minds. The world requires a greater number of motivated and educated people. For this reason, I am confident of the fact that I can add value to my world through higher education.

Essay Writing Sample Tips For Writing Essays

Essay Writing Sample Tips For Writing EssaysBefore you write your English essay sample for an English test, it is important to learn some tips and tricks to make your writing paper more interesting. Here are some tips that will help you with the topic of your writing paper.Your essay writing can be easily based on a word processor. However, there are software that allow you to make your own essays. The essay writing software you use should allow you to customize your paper and include the key information that you want to include in your paper. The best essay writing software is one that allows you to insert your own name as a writer, or to even choose your own topic.Make sure you check the sample essay before you start writing it. You do not want to put in your resume, thesis statement, or any other papers based on your papers. Be sure that the format is proper. You can also incorporate your essay into your CV.Have a lot of fun with your essay writing. This is the main purpose of ess ay writing. Make sure you find something interesting about your topic. Be sure to include information that interests you. If you find something interesting about a particular topic, then you might as well include it in your paper.Next, figure out the length of your essay. Length is important because many people cannot read long essays. Therefore, if you find that the essay is too long, you may need to make some edits.The last thing to do is check the fact that the paper you write is well organized. This is necessary because if the essay is poorly organized, it is much harder to complete. Good organization does not only include titles, keywords, and sentences, but it also includes spaces, tables, and paragraph breaks. There are many things to remember when writing an English essay sample. So, make sure you do your homework before you start your essay. The next time you are asked to write an essay, you can relax knowing that your sample essay has been written.

Free Essays on The Gift Of The Magi And The Necklace

The Differeces Between Della And Mathilida In â€Å"The Gift of the Magi† by O. Henry, and â€Å"The Necklace† by Guy De Maupassant, there are two characters that are very different. First, there is Della who is a generous, optimistic doer, and Mathilida who is a selfish, pessimistic dreamer. Their biggest difference is the fact that Della is generous and Mathilida is selfish and self-centered. The author illustrates Della’s generosity when she is low on money and all she can think about is her husbands present, and then she goes out and asks a hairdresser â€Å"Will you buy my hair?† The author shows Mathilida’s selfishness when she gets home from the ball and realizes she lost the necklace. Her husband says â€Å"I’ll retrace our steps on foot.† And she doesn’t offer to help him. The next biggest difference is the fact that Della is an optimist and Mathilida is a pessimist. The author shows this about Della when she gets her haircut and she decides she can make it work by curling it. The author similarly shows Mathilida, as a pessimist when she gets an invitation to the ball and all she can think about is how she doesn’t have a dress. When she gets the money for a dress she can only think of how she has no jewels. The final difference is how Dells is a doer and Mathilida is a dreamer. For example when Della knew she was going to get a Christmas present for Jim she fought prices at the butcher and went to get her hair sold. But Mathilida, the dreamer, just flopped down on the couch and thought about what things could be like if she wasn’t poor. In conclusion the two stories â€Å"The gift of the magi† and â€Å"The necklace† have two characters who are completely different and as I’ve show Della is generous and Mathildia is selfish, Della is an optmist and Mathilda is a Pessimist, and Della is a doer and Mathilida is a dreamer. The theme of these stories is, even if your efforts are noble in nature, you will no... Free Essays on The Gift Of The Magi And The Necklace Free Essays on The Gift Of The Magi And The Necklace The Differeces Between Della And Mathilida In â€Å"The Gift of the Magi† by O. Henry, and â€Å"The Necklace† by Guy De Maupassant, there are two characters that are very different. First, there is Della who is a generous, optimistic doer, and Mathilida who is a selfish, pessimistic dreamer. Their biggest difference is the fact that Della is generous and Mathilida is selfish and self-centered. The author illustrates Della’s generosity when she is low on money and all she can think about is her husbands present, and then she goes out and asks a hairdresser â€Å"Will you buy my hair?† The author shows Mathilida’s selfishness when she gets home from the ball and realizes she lost the necklace. Her husband says â€Å"I’ll retrace our steps on foot.† And she doesn’t offer to help him. The next biggest difference is the fact that Della is an optimist and Mathilida is a pessimist. The author shows this about Della when she gets her haircut and she decides she can make it work by curling it. The author similarly shows Mathilida, as a pessimist when she gets an invitation to the ball and all she can think about is how she doesn’t have a dress. When she gets the money for a dress she can only think of how she has no jewels. The final difference is how Dells is a doer and Mathilida is a dreamer. For example when Della knew she was going to get a Christmas present for Jim she fought prices at the butcher and went to get her hair sold. But Mathilida, the dreamer, just flopped down on the couch and thought about what things could be like if she wasn’t poor. In conclusion the two stories â€Å"The gift of the magi† and â€Å"The necklace† have two characters who are completely different and as I’ve show Della is generous and Mathildia is selfish, Della is an optmist and Mathilda is a Pessimist, and Della is a doer and Mathilida is a dreamer. The theme of these stories is, even if your efforts are noble in nature, you will no...

Lawrence Sports Simulation Essay Example | Topics and Well Written Essays - 750 words

Lawrence Sports Simulation - Essay Example Policy Recommendation Lawrence Sports has created a strategic alliance with Central Bank with intent to receive credit facilities in times of cash deficit. According to this policy, money is automatically transferred from the Central Bank to Lawrence Sports’ account whenever the company experiences a cash deficit. Currently, the company’s line of credit with Central Bank has reached its limit, $1.2 million (cited in University of Phoenix, n.d). Here, the company has to take some strategic decisions to continue its business effectively. The firm’s current difficulties are mainly due to Mayo’s default on outstanding payments for the weeks of March 17-23 and March 24-30. However, it must be noted that Mayo is the Lawrence’s principal customer and hence Lawrence Sports should not take a tough stance on Mayo’s outstanding payments. It is advisable for the company to allow Mayo an extra week for paying 80% of the outstanding payments. Evidently Gar tner is the potential supplier of Lawrence Sports as this vendor assists the company to meet its 70% of the raw materials needs. However, Lawrence has a restricted bargaining power over Gartner since Lawrence Sports is not a key customer for Gartner. Hence, it is recommendable for Lawrence to distribute 60% of its outstanding payments for the week of March 24-30 over the weeks of March 31-April 6 and April 7-13; and subsequently, continue the payment mechanism as before. Lawrence’s vendor relationships head Ann Wu opines that Murray is the more flexible vendor of the company although it is not the major one. However, Lawrence should not stretch payments indefinitely to this company because such a condition would put this company into great financial troubles. Therefore, it is advisable for the organization to pay 15% on purchase, 40% in the next week, and the remaining 45% in the second week from the week of March 31- April 6. Lawrence Sports may continue to follow this strat egy for planning the subsequent weeks. To be specific, it is recommendable for Lawrence Sports to follow a moderate working capital policy. According to Brigham & Daves (2007, p.725), a moderate policy is the one between relaxed working capital policy and restricted working capital policy extremes; and under a moderate working capital policy, an organization neither adopts a liberal credit approach nor a restricted credit approach. However, the moderate policy may not be beneficial for Lawrence to improve its financial position quickly as this policy gives more focus to customer and vendor relationships. Hence, the organization can only gradually improve its debt levels and minimize interest burden under this policy. This policy may prevent Lawrence from fastening its market growth because the firm does not promote risky investments under this moderate policy. As Correia, Flynn, Uliana & Wormald (2012, pp.11.5-11.6) point out, the organization allows its customers to maintain paymen t dues to a fixed level and does not take long time to pay dues to its vendors. In the view of Periasamy (2009, pp.19.12-19.13), a major risk associated with this policy is that Lawrence cannot quickly realize dues from its customers even if it is badly in need of money. As the organization provides its customers with a fair period of time to pay dues, it cannot insist them to pay the dues instantly. Hence, Lawrence Sports may struggle to raise funds in times of unforeseen contingencies. As compared to a relaxed working c

Nanomaterials in Consumer Products Research Paper - 1

Nanomaterials in Consumer Products - Research Paper Example At the same time in the business dimension, there are still concerns about the nanotechnology effect on global economics. The use of nanotechnologies is on the rise because it is very effective. There are numerous products on the market with additional ones coming in day after day. Most of the viable products for use by the public are duped as the first generation. Some of the available products in the market include tritium oxide that is used in most of the surface coatings, cosmetics as sunscreen at the same time is employed in some food additives, carbon allotropes are used to produce gecko tape. Lastly, one of the most commonly used material in this technology is a silver. It has been used mostly as an antibacterial in household appliances(Suh et al., 133). Zinc oxide is used in most sunscreens and surface coating, outdoor furniture furnishes, paints and cosmetic. Lastly cilium oxide is used as fuel catalysts. Silver is one of the materials used in the production of nanotechnology equipment. It can be used in food packaging, disinfectants, household appliances and clothing. Further, the silver ionic nanoparticles can be used for washing machines, air conditioners, refrigerators Samsung vacuum cleaners and air purifiers as part of the household appliances used. Silver nano coating is used in most of the Samsung home appliances to protect the household from bacterial infection. Most of the appliances are coated with silver nano that has both antifungal and anti-bacterial effect. Thus, it keeps the place clean and free from contamination by microorganism. For instance, the Samsung fridge is coated with this silicon on the inside hence killing this microorganism by cellular metabolism hence preventing further growth. According to Hoek & Ghosh, (5) the silver nanotechnology is used to sterilise equipment against 650 types of bacteria. The machines do so by eliminating about 400 billion silvers ions that penetrate deep