Mind My Karaoke †Music Business Plan Essay Example

Mind My Karaoke – Music Business Plan Paper Executive sum-up Karaoke is a Free Web based Application Software for personal computer. Smart phones and tablets. it is Initially Designer for the Indian Music Industry where people are Interested in societal Networking and interacting with each other through assorted Mediums. Karaoke will look near to Social networking. with a Fresh and New construct of people doing their ain karaoke version of their favourite latest vocals from All Different languages all over India and portion it With their friends and Well wishers. utilizing it as an Recreational medium. With Increasing and Incredible Piracy rate in India Karaoke will assist The record Companies. Artists and the Consumers every bit good. We will write a custom essay sample on Mind My Karaoke – Music Business Plan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mind My Karaoke – Music Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mind My Karaoke – Music Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer A Web based Application Software. where sharing Karaoke vocals and Interacting with friends is new and easy to accommodate and interesting every bit good. The Karaoke offers up to day of the month Original karaoke paths with good quality and voice modulating options for the recreational vocalist who use it as a diversion and Fun. The karaoke itself acts as an Social Networking Medium where it meets Facebook. Twitter and Sound Cloud which are one of the Top rated Social mediums in this coevals to do it more Interesting. Business Idea The Increasing Piracy rate in India. particularly in the Music Industry where 95 % of the Music Downloaded in India is claimed to be Illegal ( RIAA study – 2010 ) . India when Compared to the Other Countries unhappily remains in the top five. with a High buccaneering rate in the Film Industry. The Film Industry suffered loss of ? 450 476 000 ( INR 4000 00 00 000 ) due to Video and Audio buccaneering. There is drastic increasing degree of music buccaneering through Online and Offline twelvemonth by twelvemonth. where there is no mark of diminishing buccaneering rate. The Indian Film Industry is a turning Industry where the Numberss is on addition. India is the Largest manufacturer of movies harmonizing to the BBC study 2009. In 2009 India Produced 2961 movies on celluloid includes 1288 characteristic Films. The are more than 10 subdivisions in the Indian Film Industry which contains more than 10 linguistic communications of Films. i. e. Hindi. Tamil. Kannada. Malayalam. Telugu. Assamese. Bengali. Gujarati. Konkani. Marathi. Punjabi. Sindhi and many more. where each province has an alone Language of their ain. Minimum of 100 Movies each from the linguistic communications of Tamil. Telugu. Hindi. Malayalam and Kannada release in Cinema theaters every twelvemonth. 95 % of the Movies has Songs which is a typical feature of the Indian Film Industry. Each Movie releases a Music Album from the Movie itself incorporating a Minimum of 4 Paths which helps the growing of this merchandise. The Main advantage of KARAOKE is the increasing figure of people who use societal Networking and Applications for Recreations. Fun and remaining in Touch with Friends. India ranks Third in the World for Social Networking users. In India now it has become a Manner that people Express their Emotions in Public through Social Networking Thus karaoke would be an Entertaining application for them. The karaoke besides offers the Original versions of the Songs for Download at cheaper Monetary value where the Customer can purchase it after Listening to the prevue of the Songs. As the Application Software is designed for Mul ti platform it can be used in Smartphones and Tablets every bit good This makes the Application Portable and Fun to utilize it Wherever we are. The KARAOKE has an Unique Feature of Auto Voice tuning Option. where it helps to cut off Background and Ambience noises doing it easy for the Users and it besides Helps the Amateur Singers to Tune their Voice for Better Quality and Fun. It provides assorted Features likes gives a opportunity to Listen to the Original path for a Limited figure of times before Buying are entering the Karaoke Version. in each purchase of a Karaoke Track it offers a Free online Lyrics Script for that Song. where people can even alter the wordss as good. non it any manner of offering the Composer. Artist or the Record Labels. The KARAOKE has a new Approach towards the Music Industry where it Helps to Reduce Music Piracy in India. Where people can Buy the vocals Merely which they like at cheaper monetary value alternatively of Buying the Whole Album. KARAOKE soles the Purpose of Interest of the Consumers from All over India who likes Songs and likes to Sing vocals. This merchandise will Catch the Kids and Youngsters every bit good. Peoples in In India are connected to Internet and Social networking most of the Time. About 620 330 040 Facebook Users prevail in India Ranking the Third Highest Facebook Users state in the World. So Publishing and Sharing the Product through Facebook would assist and which would besides Prefer the Facebook. The Karaoke has a Separate Webpage which acts like an Social networking Website where people can wish and notice on others Karaoke vocals. give an Unique name for their Karaoke vocal and portion them on Facebook. chirrup and Sound cloud. Though KARAOKE is Unique in its ain Kind with different Approach towards Karaoke. There are Six Prevailing Competitors for KARAOKE Rivals 1. Meraghana. com 2. Redkaraoke. com 3. Taranaa. com 4. Desikaraokedownload. com 5. Karaokehindi. com 6. Latestbollywoodkaraoke. com SWOT analysis Strength – new invention towards karaoke – works both as societal networking and helps music industry from Piracy every bit good – low cost – latest vocals – sharing with friends – can be operated through Mobile Phone and Tablets every bit Well. |Weaknesses – original karaoke versions released can be pirated – vocals Piquing the Composer and Record labels can be made – thought can non be copyrighted | Opportunities – low cost options for individual vocals alternatively of purchasing the whole album – listen to the vocals for limited figure of times before the Download. |Threats – bing and new competition can originate with similar merchandises – cost of Web hosting and server infinite in Rise | 3. Background The Team Consists of Members with Knowledge of Music Industry in India. Music Engineers. Application and Server Maintainers. Software Developers. Me therefore holding rather a Good cognition about the Indian Music Industry and prosecuting Audio Production Course geting Knowledge in Both Artistic and Technical facets and holding cognition about the Karaoke Music Interests in India will work out the Purpose. Recognizing the Piracy menace and Detailed research how buccaneering affects the Indian Music Industry helps to convey up this Business Plan. For Additional aid and proficient Assistance People will be recruited in Future of the Business if Needed. The Team shall be Expanded in Future of the Merchandise when it goes Global when it is introduced in Other Countries. shall incur Help from the Countries Respectively for Further Assistance. 4. Ownership The Ownership of this Merchandise this Project would Belong to the Creator of this Product and the Financier of this Undertaking in 15 % and 85 % severally in the Net income Margin. where the Creator would be Developing the Merchandise with Different Ideas and new Inventions doing it Interesting for the Consumers. where the Record labels would hold Partnership with the Composers and Artists for Making the Karaoke Version. which is Simple with the Same Original Track without the Vocal musics and the Record Label will hold Royalty and Copyright Agreement with the Composer and Artists of the Songs. 5. Company Structure The Company Structure includes the Team and the Space for Suiting the Server and Technical Support. Though This will be an Free Application Software the Investors Play a Critical function and they Handle the Artists and Composers sing the Royalties for each vocal that is sold through the KARAOKE. 6. Team Once the Merchandise is Developed by the Developers for introduced in the Market. it needs Technicians for Trouble shot and farther proficient aid during the First 3 Months of the Product Launch where the Developers will be responsible for Screening it out harmonizing to the Agreement they Have with the Company. Software will be Further Developed and maintained depending upon the Increase in figure of Consumers. 5. THE Merchandise The Product KARAOKE is a web based Application Software for Pc. Mobile phones and Tablets. KARAOKE is an Application Software which acts like an Social Networking web where Consumers From India can Sing and do their Favorite Karaoke Songs from All Different Languages in India. The Cardinal Feature of this Product is Consumers have entree to utilize Up to day of the month Latest Karaoke vocals from more than 10 Different Languages in India. The Product is Economic when compared to the other Karaoke Web downloads in India. where Peoples can listen and take their Karaoke vocals before purchasing it. and they can Buy individual original versions of the Song they like instead purchasing the whole Album. KARAOKE has assorted Facilities where people can sing and pull strings their voice to do it better or Hilarious harmonizing to their wish. with Assorted Vocal Auto Tune Option. When They buy a Song from KARAOKE. they can sing the Original Lyrics where they would be given a free online Free Lyrics book for that vocal or they can do their Own Lyrics within the Footings and conditions. Where any Vulgarity or in offense to jurisprudence shall be instantly removed from the Web. Once they are Done with Recording the Song. they can Upload it merely one time through the Application. But they can maintain their Downloaded Karaoke version With them. Consumers will hold all entree to Training and Trials on the web page. When they Uploaded a Song. they can Upload it with different entering once more and so they have to purchase the Track once more for Uploading and they can’t Claim Copyright for their Lyrics or the Tracks. Any Unlawful Act by the Consumers will be taken to Account where they can go on utilizing the Product. When Peoples report Spams or any other Disrespectful to one another. the vocal shall be removed with farther Notice. KARAOKE allows the consumers to wish and notice on Others vocals and can Rate on others Songs. consumers can Upload their Songs on Facebook. Twitter. Sound cloud and on the Same KARAOKE web page every bit good. As KARAOKE web page Acts of the Apostless as a Social Networking web. consumers can call their Own vocals with the name they like and give a Description or Story For that vocals. Where they can show the memories of the vocals and Emotions through words. In The Initial Stage of the Karaoke From the Launch of the merchandise till it gets Familiar with the people. they get a Beneficial Package when they Invite people to the Product. they get free Songs and can do their free vocal and Share it. which helps the Product as a Promotion. KARAOKE is speedy to Access even on Mobile phones and Tablets where they all need is Internet and the Product. KARAOKE will be Introduced as Free Subscription Application Software. Where People acquire a Free Songs from latest and Up to day of the month vocals on the Web. which helps them to cognize about the Product and acquire Familiar with and they are allowed to Share the vocal. They following Benefit they Get is. As they Invite Peoples to the KARAOKE they get a Free Songs After Inviting 20 people as they Join they KARAOKE which makes it More Interesting for them and Which could assist them more to cognize about the merchandise. Where these Beneficial Schemes helps the Product’s Promotion and Marketing and makes it Familiar to the Younger coevals who are Active on Social Networking. KARAOKE will Act as a Fun and Recreational Element. KARAOKE will besides sell Original Versions of Up to Date vocals at Cheaper monetary value. which helps The Indian Music Industry to Fight Against Piracy. There are More than Hundred Websites which Offers illegal Download. which the Government wants to close down but the Numberss are still on addition and this Product would assist Fighting Against Piracy. Subsequently After doing the Merchandise Familiar the Product can be Redesigned to establish in different Countries. KARAOKE after a Steady success. will hold a Dealership will Mobile Networking Companies. because in India Many people use a installation called company Tune where people naming one another would listen to their Favorite vocal alternatively of the normal ring. where KARAOKE would offer that they can utilize their ain karaoke vocal which they made as their Caller Tune. this would do the Consumers more Interesting where they ever in a hunt of Something New. 6. Selling Plan Having cognition of Indian Music Industry and being cognizant of the High Piracy rate in India and the Attitude of the Indian Consumers who are Keen on seeking something which is new to the market and which helps to Interact with one another. friends and Family. This Would assist them as an Diversion and to remain in touch with each other in an Alone manner like of all time earlier. So we understand that people need something new which would assist them Forget Illegal Download and do them purchase Original paths and karaoke versions and do this as an amusement more interesting which already prevails but non rather popular. Here Kotler’s 4Ps of Marketing Help to Address a selling Strategy ( laid-back 2009 ) . Merchandise The Consumers want to Try something new when Merchandises like this Launches in the Market. They are connected to Social Networking most of the clip to remain in touch with One another. As Peoples in India are Music Lovers and Movie Lovers every bit good they would wish to seek this merchandise every bit good. KARAOKE is a merriment Filled Entertainment and Recreational solution for the People who Love music and love to do Music where they can buy Original paths. This Merchandise will hold a strong connexion with the Amateur vocalists chiefly. as they want to sing vocals and do it sound good merely where they are. and to portion it with friends. this will assist them to achieve what they need. KARAOKE is a simple and effectual Application in which they can do their vocal wherever they are. all they need is a personal computer or Mobile phone or tablet with internet connexion. Karaoke provides more Interesting options which would do it User friendly. Topographic point As KARAOKE is a Free Version Application Software. they can Directly Download it from the Web page or through Online Application stares of their Mobile phones and Tablets. After Downloading the Application. when they need to Buy Karaoke Songs and Original Songs. they can Buy it with their Recognition Card games and Debit Cards. which the Webpage would give proper Guidance. Another Important point of sale will be through Advertisement links on Facebook. chirrup and Sound Cloud. where people can fall in and buy the vocals on spell. No direct hard currency dealing would take topographic point. everything would travel through secured on-line debit and Credit card payment. Monetary value The Product is Very Cheap and Economic when compared to its Competitor although this is a new Innovation and unique of its Kind. The Application Software would be Absolutely Free with free Ascents as good. When KARAOKE is compared to it market rivals it is economic. where the viing web sites offer monthly and Annual bundle of ?15 and more. which are higher than the KARAOKE. where merely few Web sites offer individual vocal download which is Much more expensive than our Merchandise. To do it comfy for the Consumers KARAOKE offers individual vocals downloads at cheaper monetary value where if people are non likely interested any longer they don’t have to lose their money. KARAOKE offers Original Songs and Karaoke Version at the same Cost where each of them would be charged ?0. 11 ( INR = 10 ) which is the most inexpensive and sensible cost for a Path in the Indian Market. Where as iTunes sells each vocal at a cost of ?0. 14 ( INR = 12 ) . iTunes when compared to KARAOKE. it is moderately cheaper. As the this would be an attractive and inexpensive monetary value for the Consumers of the Indian Market. As the Competing Websites Offers Annual Packages. most of the Websites doesn’t Offer Latest vocals. which is more likely to be a draw back for their ain luck. where they are more like Coercing to Consumers to buy the Monthly or Annual Package. where as KARAOKE doesn’t gives the Consumers the Whole freedom where they can take what they would wish to Buy and Use. Promotion The Product will be Promoted in a Number of ways to Target the Younger coevals. These people Chiefly Include from the Age group of 16 – 35. where the Other Age Group Promotion would besides take topographic point. As the First Step of Promotion. The Application Software will be given as a Free Download where Peoples can research and understand about the Product. The Following measure would be that Each and Everyone who had joined the KARAOKE would be given a Free Karaoke Song of their ain pick which is Present on the Web. where people will now be allowed to see the Product and portion it with their Friends and acquire a good cognition about the Product. The following measure of publicity would be with Regional Celebrities from Different linguistic communications. will be making a karaoke version of a celebrated vocal and will be out on the Web and societal networking sites and their fan Pages. where it will be shared for publicity. this will assist the Product acquire popular. The Following Step would be. when people invite more than 20 people and as the invited people articulation. the Invite would acquire a free Song once more. This will increase the figure of users of the merchandise and makes it Quite popular among the Childs. Now KARAOKE would hold Enough users and they would get down wishing the merchandise as they Would get down Buying the vocals. Facebook. chirrup and Sound Cloud would play an Important Role in Promoting the Product as people make their Karaoke Song and portion it with their Friends Online. Ads on Social networking sites would take topographic point. As KARAOKE has new merriment filled Features like Auto Voice melody. Amusing effects. it is rather easy to acquire familiar and effectual with childs and Childs. Subsequently on After acquiring steady market and Consumers. KARAOKE will hold coaction withe Mobile Network Companies to utilize their ain vocals of the Consumers as their Caller Tunes. where we would acquire paid by the Mobile Network companies and they would be bear downing from the Consumers. As Each and Every hebdomad in India more than 2 Music Albums are released so people will be more Curious about doing new karaoke vocals and this will add up to their Entertainment. 7. Gross saless AND DISTRIBUTION Primary gross revenues would be through the Official Web page and Application shops of the Mobile Phones and Tablets. where Ads about new vocals and trades would be Published and shared through Social networking and the Followings in them. Ads about the release of new Albums and updates about Upcoming Songs would be done through the Official Webpage and Social networking. As Karaoke Acts as an Social Networking site it solves the Purpose. This would take quality clip to Get popular and effectual in the Market as this Involves people from Different provinces and Different Languages from India. As the Celebrity Advertisements would assist in Promoting the merchandise will assist the gross revenues of the merchandise in a period of Time. Distribution will be Done in the Web page and in Social Networking sites every bit good through Ads and information. where the Followers would acquire Up to day of the month information’s. Distribution will partially be done by the consumers every bit good as they do their vocal and portion it with others. which would be good for both the Consumers and the manufacturers. After a figure of people had acquired and history with KARAOKE. the following measure for the company would be upgrading the merchandise to do it functional for a big figure of people and doing it user-friendly after having feedback from the Consumers. 8. Rivals KARAOKE faces Competition in two Different ways. thought KARAOKE is a whole new different merchandise from their rivals. One manner of Competition would be through Existing Websites which are available for Karaoke vocals Downloads. The other manner of Competition would be through the Duplication of the Product and buccaneering of the Paths released through KARAOKE. There are Six chief viing web sites. which shall be stated below and compared with KARAOKE. 1. meraghana. com: which offers a Subscription Plan for $ 4. 95 ( INR = 270. 67. ? = 3. 05 ) a Month and $ 49. 95 ( INR = 2731. 27. ? = 30. 76 ) a twelvemonth for limitless use. The cost of this Product is really High for the Consumers as meraghana. com has really fer consumers. which doesn’t offer any new Songs and dressed ores on a Single linguistic communication from India and it does non offer any free add-ons like the Lyrics book and Movie Information’s. 2. Redkaraoke. com Which Offers a Subscription program for $ 2. 99 ( INR = 163. 49. ? = 1. 84 ) a Day. $ 6. 99 ( INR = 382. 21. ? = 4. 30 ) a Month and $ 39. 99 ( INR = 2186. 65. ? = 24. 63 ) a Year. where there rates are excessively high even for a individual twenty-four hours subscription and they do non offer any new vocals or sharing installations and there is no attention deficit disorder on to the Product as much. 3. Taranaa. com Which Offers a Annual Subscription for $ 20 ( INR = 1093. 60. ? = 12. 32 ) a twelvemonth. They do non offer any monthly Subscription or individual vocal Download options was KARAOKE does and they do non Offer any new vocals which disappoints the Consumers. and they do non offer different linguistic communications. 4. Desikaraokedownload. com it is a free karaoke vocals downloading Website. though it is illegal Downloads its Quite Popular where people can download the karaoke vocals and record it individually on their ain devices. where as the web site does non bring forth any installations for entering and Sharing the paths. As it is an illegal download there is no proper quality of the paths. 5. Karaokehindi. com Where Each Track Cost $ 5 ( INR = 273. 40. ? = 3. 08 ) which makes it excessively expensive for the consumers when compared to the other viing web sites. and they do non offer any monthly or annual subscriptions as the other web sites do. They offer merely old vocals and non the Latest paths which could catch the childs attending. 6. Latestbollywoodkaraoke. com This Website Offers up to day of the month karaoke paths. including the Latest releases for Free. but it is illegal Download where the vocals are non Copyrighted at all. The Tracks which they offer are manipulated hapless Quality paths. Though they provide latest vocals the do non supply any recording installations or sharing installations. SWOT analysis for KARAOKE when compared to its Rivals Strengths – Can be used in Mobile phones and Tablets excessively. which makes it Portable. – Easy to Use and an Interesting piece of Entertainment. – Sharing Facilities on Social Networking web sites. – new invention towards Karaoke because it is alone in its Own sort. |Weaknesses – duplicate of the merchandise – Piracy of Tracks which are released through KARAOKE – hazardous promotional Tactics. giving free paths ab initio for publicity where the Competitors don’t. – Heavy investing needed. | Opportunities – As it is Interesting for the Childs to utilize – support from music composers and record labels to advance the Merchandise – it is a free Application Software. which acts like a societal networking – immature coevalss involvement in music and doing music. |Threats – new clients exchanging to Similar Forthcoming merchandises. – people should afford to pass money for purchasing vocals and Karaoke Tracks. – monetary value / characteristic war with rivals – composers can officially let go of karaoke versions themselves. which would impact them the most once more | As the SWOT Analysis emcing the Competitors shows that KARAOKE offers a better trade and new interesting Elementss which would achieve success in market with the Younger coevalss Interest on it. Though it has its ain failings and menaces. by more offers and Ads and Development of the Product will assist the merchandise to stand up in the Market. KARAOKE is Unique in its ain sort as mentioned earlier and there is no similar merchandise this. though it has rivals. The viing web site are expensive and does non offer any New paths Usually which would do lose involvement among the Youngsters. who seek latest updates. even when few Web sites offer they are Illegal downloads with Poor Quality. KARAOKE would move as a Social Networking piece. which would affect the Younger coevals to pass Quality clip on it. this will give back the senses to the consumers where they get used to Buying vocals and Karaoke paths for minimum monetary value instead downloading it illicitly. The Strength of the Product lies in support from the Composers. Artist and the Record labels. as this is a new Innovation where people would wish to Invest and do money in return and this would pay the Royalty for the Artist and composer every bit good. By analysis the features of the rivals has been revealed where they are expensive and drawbacks in different signifiers. this would give back life to the karaoke involved Entertainment. 9. Customers The First set of Target Customers are the Younger Generation between the Age of 16 – 35 who are prone users of Social Networking like Facebook and chirrup. where the people who are interested in seeking new Merchandises. that makes them happy and Interactive. Thus KARAOKE would function as a medium for their Social interaction through karaoke paths and their vocalizing abilities. The following set of Target Customers will be from all age group who are Music lovers and who love to Sing. even if they are recreational vocalists. so this Merchandise will make justness to users from School pupils to working Professionals. This Merchandise will be good to the Aged people who are interested in singing supplications vocals and other spiritual vocals by themselves. Peoples From Different provinces of India would Buy and seek out Other Language paths in which they are Familiar and interested to prosecute. there are few Consumers who would cognize more than one linguistic communication and are interested in all linguistic communication vocals. this merchandise will assist to work out their demands. As there are Consumers from Different parts of India where each one has different involvement towards karaoke and Social Networking every bit good. this would assist to widen the market. As Peoples outside India are interested In Indian Songs and Indian Karaoke Tracks. they would even buy their likes from this Merchandise and this will assist in widening the market of the Product Internationally and Developing the Merchandise. India ranks 3rd in the usage of Social Networking Websites. There are 62 713 650 Facebook users as per the statistics record which has been taken late. where 48 % users are from the Age group 18 – 24 and 27 per centum users from the Age Group 25 – 34. which contains the bulk of more than 75 % below the age group of 35 which shows a figure around 47 035 238. Where most of the Childs will be Music lovers and interested in doing karaoke vocals Songs when something new is projected. even when merely 2 % of the people are interested from the age group 18 -35. there would be about 311 650 consumers for this merchandise. So this will be a certain figure where people will be interested in utilizing the Product which is Absolutely good for a new Merchandise during it launch. 10. Budget Initially the Business squad garlic necessitate a Time period of Six months for Developing the Software and Trouble hiting them. to do it perfect during the launch of the Product. it may take a month supernumerary for Fine tuning the merchandise for better Outcome. The Initial Investment for the First Six months including Software developing and assorted disbursals instead than Software Development will be ?12000 ( INR = 10. 68. 000 ) and ?4000 ( INR 3. 56. 000 ) severally. After finishing the Product and after rectifying the Products errors. the Product will be ready for it Launch. After the launch we need farther investings for Promotion and increasing figure of users. After the Launch. The fresher’s who are new to the Product will be Given a Free vocal of their ain pick. where it is approximately calculated with the figure of consumers estimated above. which would be about ?35 016 ( INR 31. 16. 500 ) where it is a whooping investing. after they invite Twenty more people to the Web and as they join the web application. the Invite would be Giver and extra free vocal where the figures are calculated at the upper limit and the maximal disbursal would be ?35 016 once more. The estimated Profit Margin will get down after One twelvemonth of the merchandise launch as it a new investing. where as if the Product is successful shortly and has many consumers. they get back the initial in Six Months clip. Ads for the Products will be ?3000 which can be compensated with the money the merchandise earns through Ads about films and music Album on the Official web page. As the Product gets households the advertizements gross for the Product will besides Increase. the estimation net income Margin on the sec on twelvemonth will be 30 % ensuing in a net net income of ?60. 000. 11. INITIAL INVESTMENT An estimated Initial Investment of ?16000 + ?73 032 in six month interval severally. a Sum of ?89032 will be needed for the Product. Which would include the Web development and Server direction cost including a amount of ?12000 and ?4000 for the Miscellaneous disbursals. this would cover all the disbursals including the labour charges and transit. Where ? 3000 from the whole Budget will be allocated for the Celebrity Advertisements and advertizements through other mediums. Free Ads of Facebook and chirrup would non incur any charges where they are reciprocally good. The projection is that at least 2 % of the entire societal Networking circle start utilizing the Product which will be about 311 650 consumers Using the Product. In the First Three Months 25 % from the merchandise consumers. which will hold 77912 consumers will purchase at least One vocal at a lower limit rate which would lend the gross at ? 8735. in the following Three months which Six months all together will hold 50 % of the consumer purchasing at least One vocal which would give another ? 8735. and the merchandise will be gaining through Ads of the web page which will lend a lower limit of ?3000 in the first six months which will bit by bit increase. Thus the Initial investing demands are explained. 12. Barriers Internal Barriers The Internal Barriers which could originate is. Effective investings from the Investors with Confidence to Bring up a Good Quality Product and the Time for Testing the Product and problem shot may take much clip as predicted to be. It could take Six to nine months for Marketing the Product through publicity and do the Product Familiar with the Consumers. This my be due to unanticipated Fortunes such as unwellness. occupation resettlement. etc. External Barriers Ageless Barriers would originate by the Lack of Potential Investors. who can get by up with the Development of the merchandise. Finding a Good Software development and waiter direction squad could besides be a barrier. Technical barriers like the velocity and effectivity of the merchandise in nomadic phones and Tablets could originate. Ads should make the consumers good before the merchandise is launched. Effective Competitors

Case Summary Golden Bear International in Mexico Essay Example

Case Summary Golden Bear International in Mexico Essay Example Case Summary Golden Bear International in Mexico Paper Case Summary Golden Bear International in Mexico Paper Golden Bear intended to carry out a long term vertical integration which included arming Joint ventures with international partners to own and operate Jack Nicolas Signature Golf Courses worldwide that rather than Just selling consulting services. Besides Golden Bear International, Group Skis project also depended on GET data site. For the desirability as a vacation resort, the location proposed for the project located less than 50 miles south of Mexico City, and immediately northwest of the main pueblo of the municipality of Deponent. The corporate partner for the proposed El Deportee project included Group KS, he main development and investment partner, GET Data Systems and Golden Bear International. Group KS was backed by prominent Mexican business people and by state and federal PRI politicians in Occurrence and Mexico City. The role of Golden Bear International Is Important for two reasons: the prestige attributed to Nicolas courses would attract residential and recreational facilities; the location of the course that Golden Bear design was expert environmentally friendly course. The project received strong state government support and local support. Mom Vernon viewed the project as a potential development pole for the state, some viewed it as a model of environmentally sustainable development. The government regarded the project as important attract to foreign business to Mexico. In addition, the project also needed local government support with municipal approval to rezone some of the 900 acres from agricult ural use to use for residential and tourism purposes. From the local community side, the project was viewed as a gift from heaven for the people of Deponent with positive impact on community of Deponent. Group KS claimed that the completed project would generate $1 1 9,000 in annual municipal property taxes, which would have allowed Deponent to overhaul Its obsolete and falling water and wastewater Infrastructure. However, the project was received the local opposition and suspicion as well. It release ten Issues sun as economic Issues, Lana Issues, environmental Ana cultural issues. The main concerned about the economic issues was that some argued that the Jobs that project offered were generally not suitable or desirable for the Deportee community. Since the largest populations of the local were high school graduates, it was believed that most of the Jobs would be menial laborer or housekeeper type positions. The local opposition was couched in terms of a lack of respect for the right of the community. They claimed that such Jobs would neither provide for a sustainable economy nor suitable employ the well-educated young people in the town. Referred to the environmental issues, opponents argued that the golf course would use at least half of the towns limited water supply to water the Renee as the course would be located at the confluence of the three aquifers upstream from Depopulate. The cultural issues for the project were the informal community leadership in Depopulate and local autonomy. Informal community leadership was based on the eight barrio festivals through a martyrdom system. The importance of such festivals cannot be underestimated for providing distinction between Deportees and the rest of the world. Another cultural issue referred to local autonomy in terms of an almost sacred autonomy versus outside imposition. This autonomy was about the aerodrome system because it required long-term residents born in Depopulate but not temporary visitors. At the last, since the project attracted many Deportees in the satellite community, it was viewed as an inappropriate form of development for their community. Positions and gardeners were not helpful for agricultural workers and small-scale farmers. Moreover, Nags such as Greengrocer influenced the local oppositions thinking and ways to fight the developers for providing external political support and scientific studies about the environmental influences of golf courses.

Settlement Patterns - Studying Societys Evolution

Settlement Patterns - Studying Societys Evolution In the scientific field of archaeology, the term settlement pattern refers to the evidence within a given region of the physical remnants of communities and networks. That evidence is used to interpret the way interdependent local groups of people interacted in the past. People have lived and interacted together for a very long time, and settlement patterns have been identified dating back to as long as humans have been on our planet. Settlement pattern as a concept was developed by social geographers in the late 19th century. The term referred then to how people live across a given landscape, in particular, what resources (water, arable land, transportation networks) they chose to live by and how they connected with one another: and the term is still a current study in geography of all flavors. Anthropological Underpinnings According to archaeologist Jeffrey Parsons, settlement patterns in anthropology began with the late 19th-century work of anthropologist Lewis Henry Morgan who was interested in how modern Pueblo societies were organized. Julian Steward published his first work on aboriginal social organization in the American southwest in the 1930s: but the idea was first extensively used by archaeologists Phillip Phillips, James A. Ford and James B. Griffin in the Mississippi Valley of the United States during World War II, and by Gordon Willey in the Viru Valley of Peru in the first decades after the war. What led to that was the implementation of regional surface survey, also called pedestrian survey, archaeological studies not focused on a single site, but rather on an extensive area. Being able to systematically identify all the sites within a given region means archaeologists can look at not just how people lived at any one time, but rather how that pattern changed through time. Conducting regional survey means you can investigate the evolution of communities, and thats what archaeological settlement pattern studies do today. Patterns Versus Systems Archaeologists refer to both settlement pattern studies and settlement system studies, sometimes interchangeably. If there is a difference, and you could argue about that, it might be that pattern studies look at the observable distribution of sites, while system studies look at how the people living at those sites interacted: modern archaeology cant really do one with the other, but if youd like to follow through, see the discussion in Drennan 2008 for more information about the historical differentiation. History of Settlement Pattern Studies Settlement pattern studies were first conducted using regional survey, in which archaeologists systematically walked over hectares and hectares of land, typically within a given river valley. But the analysis only truly became feasible after remote sensing was developed, beginning with photographic methods such as those used by Pierre Paris at Oc Eo but now, of course, using satellite imagery. Modern settlement pattern studies combine with satellite imagery, background research, surface survey, sampling, testing, artifact analysis, radiocarbon and other dating techniques. And, as you might imagine, after decades of research and advances in technology, one of the challenges of settlement patterns studies has a very modern ring to it: big data. Now that GPS units and artifact and environmental analysis are all intertwined, how to do you analyze the huge amounts of data that are collected? By the end of the 1950s, regional studies had been performed in Mexico, the United States, Europe, and Mesopotamia; but they have since expanded throughout the world. Sources Balkansky AK. 2008. Settlement pattern analysis. In: Pearsall DM, editor. Encyclopedia of Archaeology. New York: Academic Press. p 1978-1980. doi: 10.1016/B978-012373962-9.00293-4 Drennan RD. 2008. Settlement system analysis. In: Pearsall DM, editor. Encyclopedia of Archaeology. New York: Academic Press. p 1980-1982. 10.1016/B978-012373962-9.00280-6 Kowalewski SA. 2008. Regional Settlement Pattern Studies. Journal of Archaeological Research 16:225–285. Parsons JR. 1972. Archaeological settlement patterns. Annual Review of Anthropology 1:127-150.

Questions from international business competing in the global Assignment

Questions from international business competing in the global marketplace 8th edition by 'Hlll - Assignment Example Each country has a role to keep its network secure irrespective of the source of the suspicious cyber activities. China thus ought to protect its network from criminal activities of that manner. Cyberspace demands a lot of confidence in our current society. Hence, China should take action against such breach of security and confidentiality. All the investigation done pertaining to the case pointed China as the source and thus Google was left with no option but to stop the censorship. This should come as a warning for nations that do not protect the confidentiality of cyberspace. In my opinion, Google should have not censored China given its slogan against evil. This is because it would obviously be tough to rule where the government is deciding otherwise. Furthermore, there is no way conflict would be avoided where the interests are different as is the case with Google and Chinese government. However, looking at the positive side for Google, entering into self-censorship would benefi t the company because China is a potentially profitable market for Google. Hence, the best thing for Google is to allow the government to take charge of the censorship and reap the benefit of profits on its side as long as the security and confidentiality of other nations is not threatened. ... Thus without the search engines, this would be a challenge to China. The economy of China would be affected adversely as well as the general public (education and research) together with its government (Publicity). For the search engines, there is not much to lose because they would simply fail to invest there and conduct their business elsewhere. Hence, they would just lose once i.e. on the investment already made but China would suffer technology wise forever. Question 2 Wal-Mart is global merchandise with many stores all over the world. Its success in Mexico could be related to the acquiring of Cifra. This was the leading chain of stores at the time and offered self-service. After its acquisition, the firm added numerous innovations that had been perfected in the US. For instance, changes in pricing as well as supplies among others. The Mexicans like to have their goods fresh and this was offered by the firm. Further, the firm did not have any major competitors and thus had the ma rket to lead. Additionally, the Mexicans accepted their customer service and hence there was no doubt that it would succeed. Lastly, Wal-Mart opened smaller stores in order to cater for the needs of the masses and it was a welcome to most of the Mexicana. However, the success story is not similar in nations like Germany and China. Wal-Mart failed in Germany because the firm made many blunders in its operations since the very first day there. The firm has not found a solution to any of these problems so far. One of the major mistakes the company committed was making an acquisition entry which was flawed strategy to employ at the launching level. The management was through hubris as well as clash of cultures and thus would not stand. Wal-Mart also failed

Entrepreneurship and Small Business Development , One written project Essay

Entrepreneurship and Small Business Development , One written project on the theme of one selected attribute associated with the - Essay Example The returns of an entrepreneur are the profit generated by the corporate organization. Capital in the economic sense is a produced means of production (Iversen, Jorgensen and Malchow-Moller, 2008). However, an entrepreneur in business is termed as the human capital. The economic capital of the organization can only be productive with the benefits of the human capital in its business operations. In 1999, Richard Cantillon had stated that leadership of the entrepreneurs is responsible for the different circulations and changes in the economy (Glover, 2013). However, in the later stage of 2001, Jean Baptiste had stated that an entrepreneur is the primary agent of fabrication in the economy (Glover, 2013). An entrepreneur is the person who has the responsibility to manage, organize and also, forecast the impending risks in a business organization. After the emergence of globalization, the trading activities in nations have largely improved. Each and every country in the world has experie nced high growth rates with the rise in the number of new business firms. The rise in the number of small business developments has helped to improve the value of national products and employment opportunities in nations. The context of this essay will show the contribution of entrepreneurs in small business developments, both empirically and theoretically. ... It is the leadership quality of an entrepreneur that helps him to facilitate new business developments. Eminent scholars had stated that entrepreneurship in business encompasses a whole new concept (Stryker, 1998). They claimed that the originality and self sufficiency of entrepreneurship is different in business. Entrepreneurship in business helps to convert the technical resources in business to product and services. However, considering the characteristics, it can be concluded that entrepreneurial behaviour develops with time. This paper would primarily concentrate on the Leadership School Of Thought on Entrepreneurship that was first introduced by Cunningham and Lischeron in 1991 (Madsen, Neergaard and Ulhoi, 2008). This concept explains that entrepreneurs are actually the leaders of common people. They assure that their subordinates accomplish the different purposes and objectives in the workplace. Direction and motivation are the other skills of an entrepreneur that is develope d from the basic quality of leadership. This School of approach is completely non-technical in nature. It explains that a successful entrepreneur must have the quality of leadership with which he would be able to attract people and convert business vision into reality. It was also proclaimed by Schein in 1983 that an entrepreneur is a leader who is responsible for upgrading the work culture of a firm (Glover, 2013). It is true that the management and leadership attributes are the factors which help in the establishment of small business firms. Cogliser and Brigham had stated in 2004 that leadership theories were established long ago, but the practical linkage of leadership with entrepreneurship is made in the recent years. The main theories of

Oedipal Complex in the Tragedy of Hamlet Essay Example for Free

Oedipal Complex in the Tragedy of Hamlet Essay How might the Oedipal complex factor into the tragedy of Hamlet? Oedipal complex Freud’s theory of stages of development for boys To describe a boy’s feelings of desire for his mother and jealously and anger towards his father Also thought boys felt they were in a completion with their father for possession of his mother His father is looked at as a rival They boy is observing his father in hopes of being like him or even better Those that carry on these feelings into adulthood are considered to have an Oedipus Complex During the Gibson movie Hamlet hates his uncle/step father; Claudius which Freud says is alright. Claudius is now the new king of Denmark We guess Hamlet would have taken the throne eventually if Queen Gertrude had not remarried. It seems like Claudius and Hamlet have built a rivalry and are in a competition for Gertrude. Because Hamlet feels like Claudius has taken his place next to Gertrude. One of the most controversial scenes in the Gibson movie is when Hamlet goes into Gertrude’s bedroom and confronts her about Claudius. He tells her not to have sex with Claudius (jealousy) He’s obsessed with the thought of his mother in bed During this confrontation there is a lot of sexual tension between the two The movie shows them passionately kissing What other comparisons can we draw between Hamlet and Oedipus? Similarities Differences Oedipus earned the trust of his people Oedipus acts on his actions How could one make the argument that the mother figure is the root of all problems in the play? What is the role of King Hamlet’s ghost in the play? How do you know that it is not a figment of Hamlet’s imagination? Why can’t Gertrude see it? Does Hamlet love Ophelia? How does one obtain power in Hamlet? Explain the importance or lack of importance of thinking and action. How do the Id, Ego, and Superego emerge in the play? At what point in the movie do you believe Hamlet crossed â€Å"a line of madness†? Does he come back? When? How is Hamlet being portrayed in the Gibson movie, the other movie, and the play? What other dramatic differences can you identity among the play’s text, the Gibson version, and the third version that you viewed? The biggest difference between the play and the Gibson version is that Fortinbus isn’t mentioned.

The Impact Of The Internet On Communication Essay -- Networks Telecomm

The Impact of the Internet on Communication The internet has revolutionized all forms of communication since the beginning of its existence. The world has now become ‘smaller' or more like a ‘global village', so to speak. The internet was first used by the U.S military for communications purposes. The internet, from the communication point of view, has brought on new developments and techniques to keep in touch not only for individuals, but for businesses as well. An example of how the internet has impacted communication would be an example of doctors now communicating through live video feeds via the internet with patients or other doctors to diagnose patients or to even guide and advise surgeons through complicated procedures. Email Email (electronic mail) was one of the biggest breakthroughs in communication when the internet was commercialized. With email, it became possible to send messages and letters across the world in a matter of seconds to the recipients address. Email was used as an alternative to conventional mail or ‘snail' mail, as the term was introduced to describe its speed. As technology improved, it became possible to ‘attach' documents, photographs and even sound clips or songs to emails which made mail by post redundant. Emails used packet switching software whereby the email was broken down into ‘packets' and sent via the internet to the recipient. VoIP (Voice over Internet Protocol) Internet Voice, also known as Voice over Internet Protocol (VoIP), is a technology that allows you to make regular telephone calls using a dial up or broadband internet connection instead of a regular phone line. Some services using VoIP may only allow you to call other people using the same service, bu... ...ely in real-time. When logged into a chat session, you "converse" by typing messages that are instantly sent to other chat participants. One of the most popular IRC programs is ‘mIRC'. P2P technically stands for "peer-to-peer." A peer-to-peer architecture allows hardware or software to function on a network without the need for central servers. The person connects directly to his or her peer through a dedicated connection where no one else can interfere. An example of P2P chat clients are MSN Messenger and Yahoo Messenger. These P2P clients make chatting user-friendly and interesting as there are options for a web cam or an audio conversation, and options to transfer files from one peer to another. The use of emoticons makes the conversation either more real or more fun. Bibliography www.google.com www.fcc.gov www.askjeeves.com www.about.com www.mirc.com

Accounting Information Systems Research Paper Essay

Abstract The Sarbanes-Oxley Act of 2002 (SOX) was enacted into law in 2002 in the wake of corporation financial reporting scandals involving large publicly held companies. SOX instituted new strict financial regulations with the intent of improving accounting practices and protecting investors from corporate misconduct. SOX requires corporate executives to vouch for the accuracy of financial statements, and to institute and monitor effective internal controls over financial reporting. The cost of implementing an effective internal control structure are onerous, and SOX inflicts opportunity costs upon an enterprise as executives have become more risk adverse due to fears of incrimination. The Public Company Accounting Oversight Board (PCAOB) was created by SOX to oversee the accounting process and dictate independence requirements for auditors and auditing committees. The PCAOB proposed regulations must be approved by the SEC before they are enacted. Since the passage of SOX, the IT department has become critical in designing and implementing the internal controls in company accounting information systems. The Information Technology Governance Institute (ITGI) created a framework called Control Objectives for Information and Related Technology (COBIT) to provide guidance for companies to implement and monitor IT governance. Accounting Information Systems Research Paper The Sarbanes-Oxley Act of 2002 changed the landscape of corporate financial reporting and auditing. In the wake of corporate reporting scandals, Congress decided the accounting profession was unable to self-regulate, and The Sarbanes-Oxley Act of 2002 was signed into law. The law addresses corporate greed and dishonesty by requiring companies to implement extensive internal control procedures to deter fraud and hold corporate executives accountable. The Public Company Accounting Oversight Board is the enforcement arm of the legislation, and is under the authority of the SEC to oversee accounting and auditing processes. Public companies are required  integrate internal controls in their accounting information systems to ensure data validity and security. The Sarbanes-Oxley Act of 2002 In the aftermath of several corporate financial reporting scandals involving large publicly held companies such as Enron, WorldCom, and Tyco, the United States Congress passed the Sarbanes-Oxley Act of 2002 and enacted it into law on July 30, 2002. The Sarbanes-Oxley Act (SOX) takes its name from its two primary congressional sponsors, Representative Michael Oxley (R-OH) and Senator Paul Sarbanes (D-MD) (Hoffman, 2005, p. 3). SOX instituted new strict financial regulations with the intent of improving accounting practices and protecting investors from corporate misconduct. The law is intended to protect stakeholders from corporate greed, fraud, and misleading financial reporting. SOX legislation tackles several important concerns including corporate responsibility, internal controls, auditor independence, financial disclosures, criminal and fraud liability, conflicts of interest, and corporate tax returns (Moffett and Grant, 2011, p. 3). Under the law, independent auditors and corporate officers of publicly traded companies must affirm both the accuracy of the financial statements and their supporting processes and data (Hoffman, 2005, p. 3). The law requires corporate officers to vouch for the effectiveness of the company’s internal controls and to be honest and transparent in financial reporting. SOX is organized under eleven titles, with the majority of the compliance principles written under sections 302, 401, 404, and 409 (A Guide to the Sarbanes-Oxley Act, 2006). Section 302 requires company officers to certify the truthfulness and completeness of quarterly and annual reports. Additionally, the signing officers are responsible for establishing and maintaining the internal controls, and must have evaluated the effectiveness of the controls within 90 days prior to certifying the financial statements (Hoffman, 2005, p. 4). Section 401 of SOX requires corporations to issue financial statements that are compl ete and accurate and include all material off-balance sheet obligations or liabilities (A Guide to the Sarbanes-Oxley Act, 2006). This regulation was instituted to prevent public corporations from hiding liabilities from investors, and thus artificially inflating stock prices. Section 404 requires public companies to establish internal controls and report annually on their effectiveness over financial  reporting. The CFO and CEO are held personally responsible for the internal controls via the requirement to sign a statement certifying the adequacy of the internal control system (Moffett and Grant, 2011, p. 3). Additionally, the company’s independent auditor must issue an attestation regarding management’s assessment of the internal structure as part of the company’s annual report (Bloch, 2003, p. 68). Material changes to a company’s financial condition or operations must be disclosed to the public in a timely manner under the provisions of Section 409. Rapid disclosure applies to all types of company information – i.e. product recalls, personnel changes, or loss of a major customer (Hoffman, 2005, p. 4). Internal Controls Effective internal controls protect a company’s assets, maintain compliance, improve operations, prevent fraud, and promote accuracy in financial reporting. In 1992 the Committee of Sponsoring Organizations of the Treadway Commission (COSO) designed an internal control framework of five components: the control environment, risk assessment, control activities, information and communication, and monitoring (Moffett et al, 2011, p. 3). Companies use this framework to implement internal control systems tailored to their own needs. No internal control system is infallible, however, effective controls provide reasonable assurance company assets are protected and financial reporting is accurate. Section 404 compliance. Section 404 mandates that Securities and Exchange Commission (SEC) registered companies implement and maintain adequate internal control procedures for financial reporting, and also appropriately assess and report on the internal controls’ effectiveness (Conway, 2003, p. 19). Company executives and audit committees are expected to take an active role in defining and evaluating the internal control structure and procedures. The COSO internal control framework is widely accepted as the best criteria for evaluation of a company’s internal control structure. Documentation of internal control procedures is essential to the evaluation process. Documentation provides evidence that controls have been identified and can be monitored. All relevant financial statement assertions and each of the five COSO internal control components should be documented. When documentation is lacking or nonexistent, independent auditors will report either a significant deficiency or material weakness in internal control (Conway, 2003, p. 19). Furthermore, documentation provides evidence that management applies wisdom to protecting company assets and instills integrity in financial reporting in a way that is pleasing to the Lord, as affirmed in Proverbs 24:3, â€Å"By wisdom a house is built, and through understanding it is established† (New International Version). Internal controls should be evaluated to determine whether they are operating effectively and to substantiate management’s assertion on the adequacy of the controls. Internal control testing and results should be documented, with deficiencies noted and remediation plans identified (Conway, 2003, p. 19). Upon completion of the evaluation process, management prepares its assertion on the effectiveness of internal control over the financial reporting process. As part of the independent audit, the external auditor will test and evaluate the internal control system, and subsequently attest to management’s assertion regarding internal controls. Section 404 impact on small business. One of the biggest concerns to small firms is the onerous cost of implementing Section 404 on internal controls. Companies have seen audit fees increase by as much as 30% due to tougher accounting and auditing standards required by SOX (Solomon & Bryan-Low, 2004). In addition to external auditing expenses, the cost of hiring employees to create, implement and monitor Section 404 compliant internal controls can be burdensome to small businesses. In addition to the financial burden created by SOX compliance, SOX imposes significant opportunity cost on corporations by making executives more risk-adverse by instilling in managers a fear of incrimination (Vakkur, McAfee, & Kipperman, 2010, p. 19). SOX inflicts extremely punitive measures on corporate executives to include penalties, incrimination, private litigation, and potential labor market penalties (Ahmed, McAnally, Rasmussen & Weaver, 2010, p. 354). When managers’ time is consumed with regulatory compliance, they are not focused on new-product development or growing the business, resulting in lower profits and reduced marketplace competitiveness. The PCAOB The Public Company Accounting Oversight Board (PCAOB) was created by the Sarbanes-Oxley Act to oversee the accounting process and dictate independence requirements for auditors and auditing committees (Kim, 2003, p. 236). In order to curb the system of accountants’ self-regulation, only two of the five members of the PCAOB may be current or former certified public accountants. The PCAOB conducts annual quality inspections of accounting firms that audit more than one hundred companies and triennial inspections of all other accounting firms (Kim, 2003, p. 241). The PCAOB has the authority to conduct special inspections of accounting firms at any time, and can impose sanctions on an accountant or accounting firm if the Board finds unreasonable failure to supervise any person associated with auditing or quality control standards (Kim, 2003, p. 241). The SEC maintains authority over the PCAOB, and must approve PCAOB proposed regulations in order for them to become effective. PCAOB Pronouncements Pronouncements related to accounting information systems. Auditing Standard No. 12, â€Å"Identifying and Assessing Risk of Material Management,† addresses the auditor’s requirement to understand the company’s information system, including related business processes, relevant to financial reporting. This includes understanding transactions that are significant to the financial statements, and the procedures by which these transactions are initiated, authorized, processed, recorded, and reported. The auditor is to obtain understanding of related accounting records, supporting information, and specific accounts that are used to initiate, authorize, process and record transactions. The auditor should understand how the information system captures events and conditions that are important to the financial statements and how information technology affects the company’s flow of transactions. Additionally, the auditor should become knowledgeable about the companyà ¢â‚¬â„¢s period end financial reporting process, including general ledger procedures, application of accounting principles, procedures used to process and record journal entries and adjustments, and procedures for preparing financial statements and related disclosures (Auditing Standard No. 12, 2010). Pronouncements related to internal controls. Auditing Standard No. 5, â€Å"An Audit of Internal Control over Financial Reporting that  is Integrated with an Audit of Financial Statements,† establishes requirements and provides direction for audit engagements of management’s assessment of the effectiveness of internal control over financial reporting that is part of a financial statement audit. Effective internal control over financial reporting provides reasonable assurance regarding the reliability of financial reporting and related financial statements. The auditor is required to plan and perform the audit to obtain appropriate evidence about whether material weaknesses exist in the internal control over financial reporting. General standards apply in the audit, including technical proficiency as an auditor, independence, due professional care, and professional skepticism. The auditor prepares and signs a report expressing whether the company maintained effective internal control over financial reporting that is dated and issued in conjunction with the report on the audited financial statements (Auditing Standard No. 5, 2007). Auditing pronouncements. SOX authorized the PCAOB to establish auditing and professional practice standard to be employed by registered public accounting firms. Auditor compliance is mandatory. On an interim basis, the PCAOB has adopted the generally accepted auditing standards as described in the American Institute of Certified Public Accountants’ Auditing Standards Board’s Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards, in existence on April 16, 2003 (Auditing, 2003). Ethics and independence pronouncements. In accordance with Rule 3520, the registered accounting firm and auditors must be independent of the firm’s audit client throughout the audit and the engagement period. In accordance with Rule 3500T, the registered accounting firm and auditors shall comply with ethics standards as written in AICPA’s Code of Professional Conduct Rule 102, and interpretations and rulings as in existence on April 16, 2003 (Ethics & Independence, 2003). Quality control pronouncements. In April 2003 the PCAOB adopted as interim quality control standards the AICPA’s Auditing Standards Board’s Statements on Quality Control Standards, as in existence on April 16, 2003. The section requires that certified public accounting firms shall have a system of quality control for its accounting and auditing practice that ensures services are completely delivered and adequately supervised. Firm personnel are to comply with applicable professional standards and the firm’s standards of quality (Quality Control, 2003).  Attestation pronouncements. In April 2003 the PCAOB adopted as interim attestation standards the AICPA’s Auditing Standards Boardâ₠¬â„¢s Statements on Standards for Attestation Engagements, related interpretations, and statements of position as in existence on April 16, 2003. The practitioner shall have adequate training and proficiency in the attest function and the subject matter. The practitioner shall maintain independence in mental attitude, and exercise due professional care in the engagement. Work shall be adequately planned and supervised, and sufficient evidence shall be obtained to support a reasonable basis for the conclusion expressed in the report (Attestation, 2003). Future PCAOB pronouncements. The PCAOB is considering including an Auditor’s Discussion and Analysis (AD&A) with an auditor’s report. The AD&A could include information related to the audit, including audit risks, audit procedures and results. It could also include discussion related to the auditor’s views of management’s judgments and estimates, accounting policies and practices, and difficult issues. (Current Activities, 2013). SOX and PCAOB Impact on Accounting Information Systems The SOX requires that companies evaluate the effectiveness of both the design and operation of internal controls (Holmes & Neubecker, 2006, p. 25). Because of the reliance on accounting information systems for financial transactions and reporting, internal controls must be built into in the accounting system infrastructure in order to provide reasonable assurance that financial reporting is valid, complete, and free of fraud. Damianides (2005) stresses, â€Å"IT will be crucial to achieving this objective and establishing the foundation for a sound internal control environment.† Prior to SOX, there were no definitive requirements on the extent of accounting system information technology controls a company was expected to implement. Prior to SOX, wise managers and companies that placed high importance on integrity had already instituted internal control procedures. The bible speaks to this concept of being good stewards of the property entrusted to us. As noted in Proverbs 27:2 3, â€Å"Be sure you know the condition of your flocks; give special attention to your herds† (New International Version). Once SOX became law, more attention was given to internal controls that should be inherent in accounting information systems. Accounting  transactions from inception to disposition are automated, resulting in a direct relationship between IT effectiveness and operational effectiveness in companies (Holmes et al., 2006, p. 25). The chief information officer plays a critical role in SOX internal control compliance. IT professionals are tasked to provide accurate, visible, and timely information while ensuring the protection and security of information systems (Damianides, 2005, p. 77). IT governance is a process whereby a company’s IT system sustains and supports company goals and objectives (Gelinas, Dull, & Wheeler, 2012, p. 264). The Information Technology Governance Institute (ITGI) created a framework called Control Objectives for Information and Related Technology (COBIT) to provide guidance for companies to implement and monitor IT governance. The five key elements of the COBIT framework are: strategic alignment, service delivery, resource management, risk management, and performance measurement (Kepczyk, 2012, p. 5). Strategic alignment is the integration of the IT infrastructure into an enterprise’s strategic plans. Service delivery refers to the IT systems ability to securely provide information system access on any company-approved device from any location, on-site or remote. Resource management is the proactive monitoring and control of IT hardware and software costs, proactively applying cost-benefit analysis. Risk management encompasses the identification of threats and vulnerabilities to IT infrastructure, with proactive actions taken to mitigate potential impacts. Lastly, performance management is process of determining the acceptable levels of network performance and monitoring adherence through such tools as balanced scorecards and benchmarks (Kepczyk, 2012, p. 5). Businesses that apply biblical wisdom to learning and understanding legal requirements and how to implement them will be successful in overcoming the tactical challenges of complying with the law. We are reminding in Proverbs 1:5, â€Å"let the wise listen and add to their learning, and let the discerning get guidance.† Conclusion The Sarbanes-Oxley Act of 2002 is the most significant legislation concerning market regulation since the Exchange Acts of 1933 and 1934 (Holmes et al., 2006, p. 27). Public corporations are most impacted by the stringent internal control requirements. The PCAOB oversees accounting processes and auditing requirements. Companies that are successful in establishing and maintaining effective internal controls automate them within their accounting information systems. As the automation in business processes is continually growing, managers are challenged to ensure transactions are valid, security is strong, and reports are accurate and valid. References A Guide to the Sarbanes-Oxley Act. (2006). Addison-Hewitt Associates. Retrieved April 30, 2014, from http://soxlaw.com Ahmed, A., McAnally, M., Rasmussen, S. & Weaver, C. (2010). How costly is the sarbanes oxley act? Evidence on the effects of the act on corporate profitability. Journal of Corporate Finance, 16, 352-369. Attestation. (2003). Retrieved April 30, 2014, from www.pcaobus.org Auditing. (2003). Retrieved April 30, 2014, from www.pcaobus.org Auditing Standard No. 5. (2007). Retrieved April 30, 2014, from www.pcaobus.org Auditing Standard No. 12. (2010). Retrieved April 30, 2014, from www.pcaobus.org Bloch, G. (2003). Sarbanes-oxley’s effects on internal controls for revenue. The CPA Journal, 73(4), 68-70. Retrieved from http://search.proquest.com/docview/212294542?accountid=12085 Conway, R. (2003). Sarbanes-oxley, section 404: Achieving compliance. Orange County Business Journal, 26(15), 19. Retrieved from http://search.proquest.com/docview/211081168?accountid=12085 Current Activities. (2013). Retrieved April 30, 2014, from www.pcaobus.org Damianides, M. (2005). Sarbanes-oxley and IT governance: new guidance on IT control and compliance. Information Systems Management, 22(1), 77-85. Retrieved from http://search.proquest.com/docview/214122540?accountid=12085 Ethics & Independence. (2003). Retrieved April 30, 2014, from www.pcaobus.org Gelinas, U., Dull, R., & Wheeler, P. (2012). Accounting information systems (9 ed.). Mason, OH: Cengage/South-Western. Hofman, S. (2005). Beyond sarbanes-oxley requirements. ISeries News, 1-6. Retrieved from http://search.proquest.com/docview/219592654?accountid=12085 Holmes, M. & Neubecker, D. (2006). The impact of the sarbanes-oxley act of 2002 on the information systems of public companies. Issues in Information Systems, 7(2), 24-28. Retrieved from http://iacis.org/iis/2006/Holmes_Neubecker.pdf Holy Bible, New International Version ®, NIV ®. (1973, 1978, 1984, 2011). Retrieved from http://www.biblica.com Kepczyk, R. (2012). Raising your IT governance awareness. The Practicing CPA (Online), 40(8), 4-5. Retrieved from http://search.proquest.com/docview/1115475024?accountid=12085 Kim, B. (2003). Sarbanes-Oxley Act. Harvard Journal on Legislation, 40, 235-252. Retrieved from http://heinonline.org.ezproxy.liberty.edu:2048/HOL/Page?collection=journals&handle=hein.journals/hjl40&type=Image&id=241 Moffett, R. & Grant, G. (2011). Internal controls and fraud prevention. Internal Auditing, 26(2), 3-12. Retrieved from http://search.proquest.com/docview/863454394?accountid=12085 Quality Control. (2003). Retrieved April 30, 2014, from www.pcaobus.org Roman, H. K. (2012). Raising your IT governance awareness. The Practicing CPA (Online), 40 (8), 4-5. 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PhD Program Essay

It is with distinct privilege that I seek to provide the committee of this University my application for a post-graduate PhD degree in Exercise Kinesiology. Equipped with the necessary skills and competence, I wish to impart the necessary information relevant in my application. In the end, it is my desire to showcase my relevant education and experience which had given me the opportunity to meet the necessary criteria for acceptance. The constant motivation and aim to improve has always been my constant objectives in seeking higher education. Acquiring the relevant concepts and theories can be an essential as I seek to balance the interplay between the real environment and the views presented in textbooks. Moreover, the experience can also serve as an avenue for teaching in my relevant profession. Having the sufficient training and schooling can permit a solid leverage over the things being given to students. Looking back at my educational background, I achieved my Associates of Arts degree in Santa Fe Community College, Gainesville on May 2005. By 2007, I finished my Bachelor of Science in Applied Physiology and Kinesiology at University of Georgia, Athens. Currently, I am due to graduate on December 2008 with an Education Master of Science in Exercise Physiology at the University of Miami. All these things have been significant in what I am right now. With regards to my work experience, I had been employed by Don Shulas Hotel in Miami as an exercise specialist/wellness coordinator. In here, I was given the responsibility of handling clients in various fitness levels. Moreover, I began creating strength plans for golf players in the hotel. It is with these encounters that I was able to apply the things I had learned in my education while at the same time obtain the necessary experience to be competitive in my realm. Also, recognizing the importance of reaching out to other people, I had also been a participant of a volunteer program last 2006. I became engrossed at Terwilliger Elementary School wherein I taught students with mental disabilities of basic motor skills. The fulfillment and satisfaction of seeing these kids learn has always been beneficial in my personal drive to teach. Similarly, it developed my interpersonal skill in handling different kinds of people. This I see is another crucial factor to be successful in my field. I also understand that the PhD program requires a research topic that will guide me throughout the program. Due to this, my interest shall focus on the effect of resistance training on diseased population such as diabetes, hypertension and cardiovascular diseases. I seek to provide to the expansion of literature by showcasing my study towards my colleagues. It has always been my overall goal to investigate relationships and provide added insight to my profession. But I still feel the dire need to be guided by professors who will impart their time and effort to lead me towards increased competency and growth. That is why, if given the opportunity, I would like to be under the tutelage of Dr. Borsa, Dr. Haas, and Dr. Hausenblass. With their help, I can maximize my potentials and at the same time pave the way for learning for students. In the end, I hope the committee shall consider my application. Your approval can be very beneficial not only to my personal goals but at the same time to individuals who share the same interests that I have. It is only through our hard work and determination can we achieve the changes that we desire.

Indefinite Article With Initialisms

Indefinite Article With Initialisms Indefinite Article With Initialisms Indefinite Article With Initialisms By Maeve Maddox Note: An initialism is a group of initial letters, each pronounced separately, used as an abbreviation of a name. Many English speakers who probably use the indefinite article an in front of a vowel when speaking seem to encounter a mental disconnect when it comes to writing. The following examples were found on major news sites or on sites offering professional services or advice: Pieces of the bag recovered have been sent to  a FBI  lab for forensic testing.   The 404 or Not Found error message is  a HTTP  standard response code. Step-by-step tutorial on how to add  a LED  to a USB thumb drive. Applying to a MBA program can help you advance in your career or switch careers entirely. A NBC executive indicated that the independent formatted Nonstop channels were doing well but needed separate 24/7 programming.   There are several benefits to being  a RSVP  Volunteer. Did you setup and assign  a STMP server  for this account? The problem lies in an incomplete understanding of the rule for the use of a and an. Many speakers retain the rule as â€Å"Use an before words that begin with a vowel and a before words that begin with a consonant.† The complete rule is â€Å"Use an before words that begin with a vowel sound and a before words that begin with a consonant sound.† The 26 letters of the alphabet are sound symbols, but the symbols have names. And several of the consonant letters have names that begin with vowel sounds: F [ef] H [aitch] L [el] M [em] N [en] S [es] R [ar] Here’s the correct way to write the words and initialisms given in boldface above: Pieces of the bag recovered have been sent to  an FBI  lab for forensic testing.   The 404 or Not Found error message is  an HTTP  standard response code. Step-by-step tutorial on how to add  an LED  to a USB thumb drive. Applying to an MBA program can help you advance in your career or switch careers entirely. An NBC executive indicated that the independent formatted Nonstop channels were doing well but needed separate 24/7 programming.   There are several benefits to being  an RSVP  Volunteer. Did you setup and assign  an STMP server  for this account? In deciding whether to write a or an in front of an initialism, say the name of the first letter. If the letter name begins with a vowel sound, use an. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Precedent vs. PrecedenceA "Diploma" is not a "Degree"

Characteristics of a Leader

There are certain characteristic found in some people. It is just that, they put them in a position where people looked up to as a leader. People often say ‘ He or she is a born leader’. Whether in fact a person is born a leader or develop skills and abilities to become a good leader is open for debate. There are some clear characteristics that are found in good leaders. These qualities can be developed and naturally is the part of their personality. Firstly, a good leader must have a positive attitude. This quality is a required not just for a leader but everybody. However, this is specially necessary for a leader. A leader needs to be positive and motivate his team, in times that are hard and times that are brutal. When times are tough and his team is absolutely down, when times are really frustrating, a leader is the who carries his team and his organization forward and that is what a leader needs to do look at the bright side of each and everything. Besides a good leader must be a good listener. This is because a good leader needs to listen to her followers. She needs to get feedback on a regular basis, open her eyes and ears and keep listening. Now a word of caution. Listening does not mean to blindly follow and accept everything that is said and shown. What goes hand in hand is listening. This also helps her followers to express theirs feeling or even to speak their rights. The quality which a leader should possess is intelligence and alertness. A leader has to use his brain every time and also has to remain  Ã‚   alert with   eyes and ears open otherwise he could easily be carried by any fraud or enemy. Many a times we see such situations around us, where a person in trouble or problem doesn’t hesitate in blaming and embarrassing even his closest friend to save himself, and also does not bother about his friends at all because the person has to get rid of his problems anyhow. So, he just thinks about himself and his life,   the life of other does not matter to him much. Some people have a misconception that only those people who are physically strong can become good leaders, but this is not the fact. A leader may not be physically strong but he needs to be mentally strong and firm in decisions. For example, Mahatma Gandhi, the Father of the Nation was the greatest leader but he was active and had a firm desire to serve the Nation. He had the power of organizing and uniting people and attracting people towards him by his speeches. This is the best quality of a leader which he had in him. We can also say that, a person who can satisfy the basic psychological needs of his followers can also be an effective leader. A leader must have average character . There are no perfect people, but for a leader to be considered good, they must have a character that is unquestioned within the organization. Leadership always draws criticism from someone, so a leader may not be able to get everyone to believe in him or her, but the people who know the leader best should trust the leader’s character. In a nutshell, a good leader must be faithful to his group members and activities. This in turn, will result in an atmosphere of assurance among the followers. Having faith in self abilities and the world around him , the leader gains inspiration and also inspires others in the process.

Balanced Scorecard Research Paper Example | Topics and Well Written Essays - 500 words

Balanced Scorecard - Research Paper Example he balanced scorecard as, â€Å"a management system that facilitates organizations to clarify their strategy and long-term objectives, and then enforce them.† Secondly, the balanced scorecard enables business enterprises to improve continually on their results and strategic performance by provide them with feedback regarding internal business processes and external outcomes. Voelpel et al. (2006) stated that the balanced scorecard is important to any organization because it is a key ingredient in any successful business. The balanced scorecard has four key components or perspectives that enable the management of an organisation to clarify its strategy and long-term objectives and even enforce them. These four components of the balanced scorecard also represent the integral features of an organization that can determine its success. Therefore, it is correct to assert that the four key components of the balanced scorecard help the management of an organization to identify important information requirements that are necessary for the success of the business. From the image above it is noted that the balanced scorecard helps the management to identify important information regarding the financial position of the organization, the customer base of the organization, the aspect of learning and growth within the organization, and information pertaining to internal functions. On each component or perspective, the balanced scorecard has listed four different information that it requires to implement the management system. These four critical information requirements comprise of the objective, the measures, the targets, and the initiatives of each component. This is to say that upon look at the balanced scorecard framework, the management of Dual-Tech Inc will be able to identify crucial information that it will need to implement the management system and thereby be able to reap benefits attributed to utilization of the balanced scorecard (Kaplan and Norton, 1996). Voelpel