We are ready to represent the best custom paper writing assistance that can cope with any task like Inner Journeys even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Inner Journeys in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Inner Journeys
An inner journey can be described as the exploration of ones self, as individuals review their growth and development in the light of experiences which challenge and inspire them. There are many kinds of inner journeys one can take, from personal self-discovery journeys to journeys of understanding. ‘Big Daddy’ directed by Dennis Dugan, is such an example of a journey of understanding. The poem, ‘Journey up’ is one about life and choices you have to make. The final piece is a play written in the early 150’s by Christopher Marlowe, The Tragic History of the Life and Death of Doctor Faustus, or Dr. Faustus for short, this tells of a mans inner journey for knowledge.
Big Daddy
The film directed by Dennis Dugan, ‘Big Daddy’ made for the entire family, is a journey about self-discovery undertaken by a man named Sonny, when one day a child named Julian arrives at the front door, Julian represents the innocence and sincerity that slowly affects Sonny and his outlook on what life is about. Julian shows Sonny that there is more to life than sitting around ‘goofing’ off and working one day a week. Sonny acts like a mischievous child, and the world is his playground, when he is all of a sudden left with a child and has to grow up and act his age, he takes on all the responsibilities of a parent, hence the name ‘Big Daddy’. Sonny is reliant on his girlfriend Vanessa to help him raise Julian, but a sudden turn of events leave Sonny with a child, which he believes is out of his control and should belong with someone better at raising kids than he is a common problem with first time parents. Eventually, with some influence from Sonny’s father, Sonny gives up the parental responsibilities, and lets Julian run his own life, “I’m creating a new style of child raising, give the child options not orders…” Sonny didn’t want to be a ‘prick’ like his father was. Sonny eventually meets Leila, she is represented as the motherly figure, and she too influences Sonny, to change his way of life. Gradually, Sonny realizes that there is more to life and he decides to start a new family, get a decent job, and uses his experiences with Julian to raise his own family.
Journey up
The poem ‘Journey up’, is written for basically anyone and is one about life and choices one has to make. The opening phrase “The journey up to where you want to go is not a straight line” is saying that life is not easy and straight forward as one would hope to be, that it is quite the opposite. The steps are a metaphor, for different times in our life where the choices we make are like imaginative steps taking us further. The ceiling cobwebs are also a metaphor for life problems that can occur, and that it happens to everyone, this poem is giving valuable life advice to the responder, and that life is “uneven, rough and steep, but will eventually take you where you need to go.”
Dr Faustus
The play by Christopher Marlowe, The Tragic History of the Life and Death of Doctor Faustus, or Dr. Faustus, is about the Inner Journey that Faustus was trying to achieve, he wanted to have endless knowledge but when he achieved that he wanted more, he wanted to be better than god be on earth as Jove is in the sky. he started off as just wanting endless knowledge but then his greed over powered him and he gave in to Mephistopheles and sold his soul for the endless knowledge, this is relevant to the Elizabethan audience because the play was written at a time when everyone was moving away from the belief in the catholic church and what they will be rewarded with in heaven and moving towards what they can achieve on earth here and now. The Elizabethan audience relate to Faustus in this way but they differ from him in the way that they did not have the drive to actually do what Faustus did and sell his soul for what they want, this elevates Faustus from the Elizabethan audience but it is still dramatically effective for them as they want answers for what Faustus gets answers for. When he received his 4 years of knowledge he wanted more and he travels through the sky on dragons, then he travels to places, then to individual towns and finally to individual people like the pope - this is when he visits the pope invisibly to annoy him - this shows the pettiness of Faustus knowledge and power. In the end Faustus becomes really greedy as he regrets selling his soul and wants it back. Faustus here is related to Icarus in the way that Icarus wanted to fly to the sun - he made his wings of wax and flew but when he was flying he realized he wanted more than just to fly - he wanted to fly to the sun and he did - the wax wings melted and he fell to his death. This is similar to the downfall of Faustus as he too was over-reaching by selling his soul to gain his endless knowledge which turned out to be limited and he too fell to his death.
These composers show that Inner Journeys can be undertaken by anyone, and is normally done to better understand ones self. However, as seen in Dr. Faustus that ones own desires can be the downfall of ones self. One may think that an inner journey can be undertaken by themselves however, it may take more that one person to better understand ones self. Life can be hard but inner journey can help see you thought it all, so all you need is a little faith and that those sloping ceilings cobwebs, or whatever grows in those dusty corners wont get in your way.
Mind that the sample papers like Inner Journeys presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Showing posts with label essays for free. Show all posts
Showing posts with label essays for free. Show all posts
Wednesday, 10 April 2013
Tuesday, 4 September 2012
escape from freedom-review
We are ready to represent the best custom paper writing assistance that can cope with any task like escape from freedom-review even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like escape from freedom-review in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Escape from Freedom- An Academic Review
Over the course of history, man’s desire for complete freedom has been overcome by the responsibilities and dangers involved with liberty. Freedom can represent different things to people, this can entail civil, political and ethic liberty’s. The more freedom we poses, the bigger the burden and the more we are responsible for. This causes some of us to desire less freedom in favour of support for those who will decide for us, freedom then becomes a negative situation from which we try to escape.
Erich Fromm’s book Escape from Freedom explains how freedom comes at a price. He believes “That modern man, freed from the bonds of pre-individualistic society, which simultaneously gave him security and limited him, has not gained freedom in the positive sense of the realization of his individual self, that is, the expression of his intellectual, emotional and sensuous potentialities. Freedom, though it has brought him independence and rationality, has made him isolated and, thereby, anxious and powerless.”(forward x) Fromm believes we feel lonely and isolated due to our separation from nature and each other. We are the only species of animal to feel this isolation, he thereby refers to it as the human condition.
Fromm takes a social-psychological approach by combining the theories of Freud and Marx. Freud’s theories of psychoanalysis focussed on the individual self, while Marx’s views pertained to society as a whole. Fromm breaks his structure of thinking into three groups His purpose in studying and writing about this subject is because he believes this to be the main crisis of our time. The initial version of this book was first written during the
reign of the Nazi party over Germany. Fromm’s goal was to develop a clear understanding of how such an evil organization could become so powerful. The fact that Nazi party gained control of a democratic nation shows that this could happen even in todays free world. Hitler’s rise to power was a combination of economic, political and psychological issues facing Germans at that time. The Nazi party appealed to the lack of patriotism facing the country, after the loss of the first world war.
Fromms most significant argument in this text are the three ways in which he believes we escape from freedom Authoritarianism, Destructiveness and Automation Conformity. Authoritarianism, according to Fromm, can be approached in two ways. One is to submit to the power of others, and the second is to make others submit to your power. In both cases Fromm believes you escape your individual self, and thus have lost your freedom. Fromm refers to these extreme forms of Authoritarianism as Masochistic and Sadistic. Masochism is when we avoid freedom and individuality by submitting to the powers of others to compensate for a lack of strength. The other extreme form being sadism, which Fromm believes can be broken into three different types intertwined together. The first is to create unrestricted power of dependency, the second is to not only rule over others but to cripple their liberties, and finally the third is a desire to make and see others suffer() Fromm uses the example of Authoritarianism to explain how Adolf Hitler and the Nazi party convinced so many to follow him on his mission to remove all liberties, including life, from their supposed enemies, the Jews. Both the masochistic and sadistic forms of authoritarianism solve the problem of anxiety associated with freedom, by destroying the individual self. Fromm refers to these traits as symbiosis. “Symbiosis, in the psychological sense, means the union of one individual selfwith another self (or any other power outside of the own self) in such a way as to make each lose the integrity of its own self and to make them completely dependent on each other.”(p.157) Destructiveness as a form of escape can easily be confused with sadism and masochism. Fromm argues the close relation between sadism and destructiveness by explaining their differences. “Sadism is not identical with destructiveness, although it is to a great extent blended with it. The destructive person wants to destroy the object, that is, to do away with it and to get rid of it. The sadist wants to dominate his object and therefore suffers a loss if his object disappears.”(p.158) In this text Fromm also states that sado-masochistic behaviour is often hidden under the guise of love, yet the true meaning of the act is generally due to one’s enjoyment of dependence or domination. The destructive person escapes isolation and weakness by destroying the world around them. These people feel the need to be destructive to the world in order to stop it from destroying them. This Destructivenss also refers to the desire to destroy those with power. This destruction can be channelled in several different ways, such as, hate groups, religion and patriotism. These actions can be rationalized by the mentally ill who turn to this form of “escaping freedom.”() This behaviour can lead to acts of vandalism, hatred, such as racism and crime in general. Destructiveness can also be focused inward resulting in a self-destructive mentality. The most severe example being suicide. Hatred and Destructiveness stem out of frustration from attempts to live and act creatively. The positive energy is transformed into destructive energy. Automation Conformity is the most common way in which we “escape from freedom.” Fromm states that out of a fear of alones we conform to the mass of society. By acting, doing, believing and looking the same as everyone else we gain a sense of power. Through the masses we gain the comfort of being a part of something and belonging, thus empowering ourselves. At the same time this denies us of our individuality and changes our natural selves. Thus in conforming to the model of society, there is no reason to acknowledge your freedom or responsibility. Fromm believes people to be products of the society that they grew up in. The behaviours we have come to know as normal, are learned, therefore natural to us. Fromm traces idea of society back to the middle ages, he shows how the structure has changed. As a reaction to this our individual needs and place in this world have changed. In the society of the middle ages people thought of themselves as having a pre-determined place in life, such as servents, royalty and tradesman. As we moved into modernity people began to realize and fight for the benefits of freedom. Fromms theories are also relevant in the world today. Not only do these ideas apply to the facist dictators of the Middle east, they are also extremely relevant in our so called “free” western society.
“Escape from Freedom” introduces the reader to psychoanalytic theory and how it applies to thre understanding of society, giving reasons as to why we act the way we do. This text also delves into the psychology of facism and authoritarianism, explaining how such systems are capable of gaining so much power. Fromm covers all areas of his argument in depth, he explains where we started from and where we need to be. While this text ‘Escape from Freedom, offers many insights into the history and psychology of society and the structure ivolved. Erich Fromm wrote this text with the purpose of gaining some insight as to how the Nazi party gained so much power in previously democratic society. Fromms main problem seems to be his tendency to over generalize about the world. He makes assumptions supported by nothing more than his own beliefs. Fromm attempts to draw parallels between human behaviour and society backed by nothing more than philosophy and his own assumptions. Ideas are taken as facts, assuming that psychology is the truth. The subject matter seems to personal for fromm to be fairly objective between his search for the truth and what he believes to be right. All in all, ‘Escape from Freedom’ is a very relevant worth while read. The subject matter brings up valuable theroies which might have gone unnoticed if not for the passion of Erich fromm. This text provides important insights into the inner workings of society. Whether or not these ideas are entirely factual, they must not be ignored, Instead we must embrace them and attempt to explore them further.
Mind that the sample papers like escape from freedom-review presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Escape from Freedom- An Academic Review
Over the course of history, man’s desire for complete freedom has been overcome by the responsibilities and dangers involved with liberty. Freedom can represent different things to people, this can entail civil, political and ethic liberty’s. The more freedom we poses, the bigger the burden and the more we are responsible for. This causes some of us to desire less freedom in favour of support for those who will decide for us, freedom then becomes a negative situation from which we try to escape.
Erich Fromm’s book Escape from Freedom explains how freedom comes at a price. He believes “That modern man, freed from the bonds of pre-individualistic society, which simultaneously gave him security and limited him, has not gained freedom in the positive sense of the realization of his individual self, that is, the expression of his intellectual, emotional and sensuous potentialities. Freedom, though it has brought him independence and rationality, has made him isolated and, thereby, anxious and powerless.”(forward x) Fromm believes we feel lonely and isolated due to our separation from nature and each other. We are the only species of animal to feel this isolation, he thereby refers to it as the human condition.
Fromm takes a social-psychological approach by combining the theories of Freud and Marx. Freud’s theories of psychoanalysis focussed on the individual self, while Marx’s views pertained to society as a whole. Fromm breaks his structure of thinking into three groups His purpose in studying and writing about this subject is because he believes this to be the main crisis of our time. The initial version of this book was first written during the
reign of the Nazi party over Germany. Fromm’s goal was to develop a clear understanding of how such an evil organization could become so powerful. The fact that Nazi party gained control of a democratic nation shows that this could happen even in todays free world. Hitler’s rise to power was a combination of economic, political and psychological issues facing Germans at that time. The Nazi party appealed to the lack of patriotism facing the country, after the loss of the first world war.
Fromms most significant argument in this text are the three ways in which he believes we escape from freedom Authoritarianism, Destructiveness and Automation Conformity. Authoritarianism, according to Fromm, can be approached in two ways. One is to submit to the power of others, and the second is to make others submit to your power. In both cases Fromm believes you escape your individual self, and thus have lost your freedom. Fromm refers to these extreme forms of Authoritarianism as Masochistic and Sadistic. Masochism is when we avoid freedom and individuality by submitting to the powers of others to compensate for a lack of strength. The other extreme form being sadism, which Fromm believes can be broken into three different types intertwined together. The first is to create unrestricted power of dependency, the second is to not only rule over others but to cripple their liberties, and finally the third is a desire to make and see others suffer() Fromm uses the example of Authoritarianism to explain how Adolf Hitler and the Nazi party convinced so many to follow him on his mission to remove all liberties, including life, from their supposed enemies, the Jews. Both the masochistic and sadistic forms of authoritarianism solve the problem of anxiety associated with freedom, by destroying the individual self. Fromm refers to these traits as symbiosis. “Symbiosis, in the psychological sense, means the union of one individual selfwith another self (or any other power outside of the own self) in such a way as to make each lose the integrity of its own self and to make them completely dependent on each other.”(p.157) Destructiveness as a form of escape can easily be confused with sadism and masochism. Fromm argues the close relation between sadism and destructiveness by explaining their differences. “Sadism is not identical with destructiveness, although it is to a great extent blended with it. The destructive person wants to destroy the object, that is, to do away with it and to get rid of it. The sadist wants to dominate his object and therefore suffers a loss if his object disappears.”(p.158) In this text Fromm also states that sado-masochistic behaviour is often hidden under the guise of love, yet the true meaning of the act is generally due to one’s enjoyment of dependence or domination. The destructive person escapes isolation and weakness by destroying the world around them. These people feel the need to be destructive to the world in order to stop it from destroying them. This Destructivenss also refers to the desire to destroy those with power. This destruction can be channelled in several different ways, such as, hate groups, religion and patriotism. These actions can be rationalized by the mentally ill who turn to this form of “escaping freedom.”() This behaviour can lead to acts of vandalism, hatred, such as racism and crime in general. Destructiveness can also be focused inward resulting in a self-destructive mentality. The most severe example being suicide. Hatred and Destructiveness stem out of frustration from attempts to live and act creatively. The positive energy is transformed into destructive energy. Automation Conformity is the most common way in which we “escape from freedom.” Fromm states that out of a fear of alones we conform to the mass of society. By acting, doing, believing and looking the same as everyone else we gain a sense of power. Through the masses we gain the comfort of being a part of something and belonging, thus empowering ourselves. At the same time this denies us of our individuality and changes our natural selves. Thus in conforming to the model of society, there is no reason to acknowledge your freedom or responsibility. Fromm believes people to be products of the society that they grew up in. The behaviours we have come to know as normal, are learned, therefore natural to us. Fromm traces idea of society back to the middle ages, he shows how the structure has changed. As a reaction to this our individual needs and place in this world have changed. In the society of the middle ages people thought of themselves as having a pre-determined place in life, such as servents, royalty and tradesman. As we moved into modernity people began to realize and fight for the benefits of freedom. Fromms theories are also relevant in the world today. Not only do these ideas apply to the facist dictators of the Middle east, they are also extremely relevant in our so called “free” western society.
“Escape from Freedom” introduces the reader to psychoanalytic theory and how it applies to thre understanding of society, giving reasons as to why we act the way we do. This text also delves into the psychology of facism and authoritarianism, explaining how such systems are capable of gaining so much power. Fromm covers all areas of his argument in depth, he explains where we started from and where we need to be. While this text ‘Escape from Freedom, offers many insights into the history and psychology of society and the structure ivolved. Erich Fromm wrote this text with the purpose of gaining some insight as to how the Nazi party gained so much power in previously democratic society. Fromms main problem seems to be his tendency to over generalize about the world. He makes assumptions supported by nothing more than his own beliefs. Fromm attempts to draw parallels between human behaviour and society backed by nothing more than philosophy and his own assumptions. Ideas are taken as facts, assuming that psychology is the truth. The subject matter seems to personal for fromm to be fairly objective between his search for the truth and what he believes to be right. All in all, ‘Escape from Freedom’ is a very relevant worth while read. The subject matter brings up valuable theroies which might have gone unnoticed if not for the passion of Erich fromm. This text provides important insights into the inner workings of society. Whether or not these ideas are entirely factual, they must not be ignored, Instead we must embrace them and attempt to explore them further.
Mind that the sample papers like escape from freedom-review presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Monday, 30 July 2012
e-commerce
We are ready to represent the best custom paper writing assistance that can cope with any task like e-commerce even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like e-commerce in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
I have once heard about a poet. His name has already escaped my mind, but one of his poems has impressed me very much. Very simple and explicit, the poem, which is entitled Life, contains only one word Net. Maybe at that time, the poet himself just wanted to depict the complexity of life, the relations among the people, the gains, the pains and the meaning of life. It is just like a net, entangled together and hard to make it clear. The amazing thing is that that concise poem accidentally, however, exactly delineates the life of the present information age. The word Net here does not simply express the conventional meaning, but a completely new thing, the Internet.
Nowadays the Internet has stretched its antennae to every corner of this world. More than three hundred million people surf the Internet now. The Internet contains so many things that no one on this planet has ever doubted that it will dominate the whole world in the future. No one can live without the Internet. In one word, it has already merged into people’s daily life.
Among the numerous fields that the Internet covers, one of them recently has become so popular that everyone seems to pay attention to it. This is E-Business. It is no longer a creation, but it has changed the way people live.
And, this paper will focus on this topic, introducing the features and development of E-Business and expressing my personal opinions about it, about its past, about its present and about its future.
E-Business
During the past few years, the Internet has evolved from a scientific network only, to a platform that enables a new conception of business. The first wave of electronic business was fundamentally an exchange of information. But as time passed, more and more types of businesses have become available electronically. Nowadays, we can buy goods online, book holidays or have texts translated over the Internet in an instant. Home banking, for example, is one application that is already provided by most banks around the world. Looking up your balance, transferring money and other transactions are done every day by millions of people. Public administration has discovered the Internet as a means to talk to the general public at election times. And it will not be too long a time before we see general elections decided on the Internet.
Defining E-business
Before we talk about E-business, we must first make the definition of E-business clear. What is E-business? Only talking about the things mentioned above is too general. Let’s listen to a story first. A student who graduated from a high school was leaving for the university where he was going to spend the next four years. His mother got everything ready for him and saw him off at the railway station. Suddenly she remembered that she had forgotten to buy him a new bicycle. Then she immediately ordered one online. And when her son got to the university, he received the bicycle at the same time. From this story, we may conclude that, briefly speaking, E-business means doing business electronically or buying and selling goods via the Internet.
One of the first to use the term E-business was IBM in 17 . At that time they launched their first thematic campaign built around the term. Until then e-commerce was the buzzword. The shift in terms also means a shift in paradigm. Until then selling was the only business that people did on the web. Broadening the approach to allow more types of businesses on the web created the new term e-business. E-commerce is just one aspect of e-business like e-franchising, e-mailing, e-marketing. E-business is about using the convenience, availability and worldwide reach to enhance existing businesses or create new virtual businesses. IBM defines E-business as “a secure, flexible and integrated approach to delivering differentiated business value by combining the systems and processes that run core business operations with the simplicity and reach made possible by the Internet technology. ?
Going online
Why are today’s companies so keen, so enthusiastic about going on the Internet and doing business online? Why are there so many dot-com companies coming out like the bamboo roots after spring roots? Here are some of the important reasons.
Expanding market reach
One of the major advantages to the Internet is its global availability. If you have a little company, it is quite simple to expand the market reach beyond your geographic location and your current customer segment. Barnes & Noble, one of the largest chains of bookshops in the United States were forced to open a branch on the Internet, because they felt the pressure of Amazon.com , which is selling books over the Internet only and attracted more and more people who traditionally went into the shops of Barnes & Noble.
Generating visibility
Another important goal, especially for small and medium-sized enterprises (the so-called SMEs) is to gain more visibility. Generating visibility is a substantial gain for every company. The better known your company is, the more people will be interested in doing business with you. The Internet allows a company to present itself at very low cost. All you need to do is setting up a new web page and include prices, products and any necessary information, which costs very little and the cost for reproduction is practically zero. You do not need to replicate a catalogue, a brochure or a flyer. Put it onto the Internet and it replicates itself.
Responsiveness
The Internet can easily support increased responsiveness to your customers. Increasing responsiveness to customers and partners is very important in tying customers to a company. Being responsive gives customers the feeling that they are treated well by the company. Responsiveness also means that when you give out e-mail addresses to your customers, somebody needs to answer these e-mails fast and competently. Although this feature nowadays is must for all companies, it was something revolutionary a few years ago. Instead of calling your logistics partner and asking what happened to your goods, you could just go to their web site and check yourself, which means a cost reduction for yourself.
Offering new services
Offering new services is also a reason for going online. Introducing new services in traditional markets is difficult and expensive. The Internet on the other hand offers the possibility to introduce new services with very little start-up costs. New services should not only be provided to customers and partners, but also to employees.
Cost reduction
This is one of the preeminent reasons for going online. The cost for real estate, service support and production can be reduced greatly through the use of Internet. Printer manufacturers such as Canon and Epson use the Internet to distribute printer drivers and updates. The cost for replicating of printer drivers and updates they sell is a very large sum in the end. The replication cost on the Internet is nearly zero. This results in more content customers and less overhead.
Strengths and advantages of E-business
E-business has become very popular recently. Then why on earth is it so attractive? If you pay a little attention to it, you may easily find some advantages to E-business and these cannot be matched by the conventional approaches to doing business.
First of all, by doing trade via the Net, businesses can expand their customer base, and even expand their product line. The limitations of factory are now negligible, for the whole world has become a big workshop. You do not need to produce the goods in one factory at one place and then transport them to various places all over the world. Nowadays seldom are products made of parts from only one country, but instead, from quite a number of countries and territories.
Secondly, business-to-business sellers can grow closer relationships. The procedure of doing business can be greatly simplified. They do business one to one through the Internet and all the middlemen can now be canceled. The major result of this is the enhancement of efficiency.
Third, products can be sampled via the Web fast, easily and free of charge. Highly developed as the modern advertising is, its influence is still quite limited. Therefore it is by no means an easy job for corporations to expand their market, even for those powerful multinational corporations. In this way, E-business can assist to do the advertising, for the Internet can reach every corner on this planet, provided there is a computer.
Last but not least, the Internet reduces the number of media transfers that are necessary to transport information. The conventional mass media, to some extent, is really inefficient. The Internet can overcome this problem without difficulty. For a corporation, it only needs to post all the information on the Net, and customers all over the world will obtain this information easily.
Concerns on the Internet
However, in this world, nothing is perfect, and the Internet is not an exception. There do exist some drawbacks to the Internet that cause great concern and impede its swift growth.
Here are some obvious and influential ones.
First the competition is growing from a local to a worldwide one. Now by doing business on the Net, what a company faces are no longer the local rivals or the domestic ones, but those from all over the world. You compete with the international competitors openly. In addition, a customer can compare the offerings of a certain company with another one much more easily. So the pressure is much heavier and numerous small companies may be driven out of business due to the fierce competition.
Next that once information has been published on the Internet, it becomes easy to copy it and use it for another business. Since the information is right there on the Net, everyone can download or duplicate it without payment, and illicitly copy a company’s method of doing business. Therefore the initiator may suffer a great loss, or even worse lose its position in the market. The best example of this in China may be the imitation of Dell by the computer manufacturer Legend . Legend copies the direct mode of doing business from Dell and has received a very satisfactory return. Although Dell has made a remarkable achievement in China, now it must face the challenge from Legend.
Then we need to pay attention to the fact that many companies are afraid that their customers won’t accept the new media. Fast as the Internet and E-business develops, still there are many people who are resistant to this new thing. Therefore the effect of product advertisement on the Net may be exerted at a discount.
Next, the New Economy makes it easier to compare prices. Prices will drop, so quality and extra services become more and more important. Because of the fierce competition, companies have to reduce the prices in order to maintain a substantial market share and to attract customers. Then when the price can no longer be reduced, the quality and extra services become their only weapons against competitors. This will impose a high standard requirement on companies and only those that can perform well will survive, exactly the same as the law of nature proposed by Darwin�Nature selects.
Finally, most companies are very concerned about security on the Internet. Actually this is not the only the concern of the companies, but also of the customers. For when you do business on the Internet, everything is open. Besides this, most of the payments are done through the credit card. As a result, there is a possibility that the password can be stolen and the loss would be extraordinarily great. What makes it worse, there are now innumerable hackers, most of them experts at computer technology, who can easily destroy a website. This can do great harm to the normal business order on the Net. Most countries, especially those developing ones, have not established effective legal regulations to supervise this field of industry.
Amazon.com
The legend of this online kingdom
Ok, so far we have talked about so many tedious things about E-business, about its features, advantages and concerns. Now let’s see something more concrete and interesting�the famous online bookshop, Amazon.com.
If you walk the streets in the United States, and randomly ask people one question Which company do you know is famous for E-business, nine out of every ten people will definitely give you the answer Amazon.com. That’s for sure.
Several years ago, when Bill Gates, king of the Microsoft Empire, was fomenting the whole world with his advanced Windows, a young guy from Wall Street in New York was driving his shabby van to the west, seeking his own dream of tomorrow. This was Jeff Bezos. Several years later, the Amazon.com has reached a market value of billion US dollars and as the founder and CEO of this online company, his personal value is estimated to be approximately 7 billion US dollars. The whole world is excited by the success of this young man and a new epoch begins.
But before we start to talk about this legendary person, let’s first see some anecdotes about his childhood. Triggered by his grandfather, a retired Atomic Energy Commission manager, Bezos dreamed at age 14 of being an astronaut or physicist and filled his family garage with science and engineering projects. By age 16, he could fix windmills, use an arc welder and castrate cattle. In his late grade school years, Bezos became fascinated with the Infinity Cube, which used a set of motorized mirrors to let the user stare into infinity. When his mother said its $0 cost was too expensive, he bought the pieces cheaply and built it himself.
Maybe in some people’s points of view, these are quite ordinary and a lot of young people can do it, maybe even better than Bezos. However, it is just these trivial things that fostered Bezos?personality and capability, and foretold his successful future career.
Actually, Bezos was very outstanding even in university. He received a bachelor’s degree of Electronical Engineering and Computer Science from Princeton University. Then he began his career on Wall Street. He used to develop computer systems and acted as hedge fund manager for Bankers Trust Co. and D.E. Shaw & Co. on Wall Street. He attained two posts of vice managers in four years, proving that he was a genius at doing business and managing. However, a small thing changed his whole life, and even the way of life of the world. One day, when he discovered that the Internet was growing at ,00 percent annually, he knew it was his opportunity and he needed to do something. He and his wife, MacKenzie, moved to Seattle and began online business out of their rented suburban house.
History always seems incredibly alike and interesting. Just as Yahoo.com was founded by Michael Yang and the Hewlett and Packard Company was founded by Hewlett and Packard, Amazon.com was also born in a small and shabby garage.
Located in Seattle, Washington, Amazon.com opened its virtual doors in July 15 with a mission to use the Internet to transform book buying into the fastest, easiest, and most enjoyable shopping experience possible. At the very beginning, Amazon.com only sold books online and no one paid any attention to this newborn baby. Those Internet companies considered it just another negligible vendor on the Web and those mega-bookstores ignored it, thinking that it was only a trivial button on a brilliant evening gown.
However, reality has the last say. Because of its considerate service, inviting price, large variety of books and tremendous convenience, more and more customers were attracted to visit this website and buy books online. Only four years after its foundation, this online bookstore had grown beyond the two biggest bookstores in the United States, Barnes and Noble and Borders, with a market value exceeding the total value of these two. Being cornered by this giant, Barnes and Noble had no choice but to establish its own bookstore online. But how could it compete with Amazon.com?
Today, Amazon.com is the place to find and discover anything you want to buy online. Its range of products sold on the Internet is not only limited to books, but has extended to many other products, from toys to CDs, from DVDs to gifts, from medicines to cosmetics, so on and so on. Or in other words, we may buy almost everything that can be found on this planet. The miracle lies in that whatever Amazon.com does, it turns out to be very successful. Only four months after it began to sell CDs online, two giants of audio and video products in the United States were so scared that they merged with each other to compete with Amazon.com. There were many other cases of this. Thus Jeff Bezos has become the new idol of many young Americans and the Godfather of E-business.
However, Americans are not interested in skin-deep descriptions, they are more enthusiastic about facts, or rather, numbers and statistics.
Well, now let’s see the following chart. They may give you a more profound and concrete understanding of its success.
Profile of Amazon.com
Date of foundation July, 15
Date of issuing of stocks May, 17
Biggest individual shareholder Bezos (41%)
Total volume of books online .7 million (the year 000)
Increasing rate of books 0,000 per week
Personnel ,000 (the year 001)
Market value 0 billion
Net assets 7 billion
Customer accounts 6. million
Number of customers 1.1 million
Countries visited More than 160
Number of copartners 0.6 million
How they do
Before we look into it, let’s first examine two completely different ways of going shopping.
You take a bus to the nearest supermarket, wandering among piles of goods and looking for what you want. You walk from one aisle to another. Sometimes the assistant’s help is necessary, for quite often you may get lost in the huge variety of goods. When you finish, the most annoying thing comes, you have to wait in a long queue for a long time to pay, growing impatient and destroying the good mood of going shopping. Then after paying the money, you, carrying bags full of your harvests, big and small, go back home on an overcrowded bus.
In comparison, you stay at home, sitting in front your computer on a comfortable chair, with soft music on. What you need to do is to surf the relevant websites, browse the lists of goods and look for what you like. Then you click the mouse and pay by your credit card, and then it is done. You just wait at home and your goods will arrive at door in several hours or for certain product several days at most.
Obviously, the later one is much better than the former. Due to its unmatchable advantages, this has become the trend and this is the very way by which those online companies attract customers.
Amazon.com is the expert at this. Starting from a small online bookstore, now it is a matchless giant of E-business, with its business range covering almost every field. Its mode of business is completely different from those conventional companies. Instead of buying products from manufacturers first then selling these goods to customers, Amazon.com turns the order around. Customers first order the goods online and then Amazon.com will buy these goods from those manufacturers accordingly, with which it has already set up a very good relationship. In this way, the cost can be greatly reduced. Amazon.com has two big distributing centers in the United States. When the goods arrive at the centers, packers pack the goods and then porters will send them to customers. This is the basic sequence of how an online purchase is made.
Although Amazon.com declares that it is totally different from other companies, for it does not have factories and shops, it still has to establish distributing centers and the goods must by sent manually. So far this cannot be changed.
What they offer
Selling books has already made Amazon.com famous and successful. However, Bezos was not satisfied with this. He saw far beyond this and believed that more and more opportunities were waiting for him. Therefore, he gradually enlarged the range of products and services, merging and buying other companies without any hesitation.
Now you can buy almost anything you want at Amazon.com. Besides books, you may search for CDs, DVDs, gifts, toys, medicines, cosmetics, clothes, electric appliance, so on and so on. The variety is definitely beyond imagination and is incomparably more varied than conventional stores.
Along with the extensive catalog of products, Amazon.com also offers a wide variety of other shopping services and partnership opportunities. For instance, the customers may see an online movie. What makes it different is that you can choose any movie and see it at any time.
Some other services cater to different demands of customers and make this website outstanding. Here are some examples to make you clearer. You may sign up for Special Occasion Reminder service, and then youll never forget to get a gift for that special someone again. You may become an Amazon.com Associate and earn money by selling books, CDs, DVDs, videos, and many other products on your website. You may sign up for Delivers and E-mail subscription service, to receive the latest reviews of exceptional new titles in categories that interest you.
Maybe the following sentence will make you understand better Opportunities are just waiting for you there; it is your affair whether to grasp them or let them slip through your fingers.
What they believe
Just like any successful companies around the globe, Amazon.com has its own corporation culture. Here are the basic principles that all the employees value and lead them to greater success.
First of all, the customers are King. So the company makes every effort to improve the services they offer to retain the old customers and to attract new ones.
Still let’s see an example of how they make buying convenient. If you want to buy the book Godfather, you just need to type the title of the book, then all the latest information, the contents, the price, the discount and even the price on other websites, will be listed in front of you. If you cannot remember the title, you can also type some keywords mentioned in the book, although this seldom happens, then the website will list all the relevant information in detail. Or even worse, if you know nothing about the book, but the color of the cover, this will do. Isn’t that amazing?
Mistakes cannot be avoided. Sometimes if it is not the company’s fault, the shippers will also apologize to the customers. Even more, if you are not content with the contents of the book, you can even send the book back and get the refund.
Why do they do all these things that others do not? Because they believe that the company will not survive without the support from customers. Actually what they compete for with other companies is nothing but customers. So they will do whatever they can to attract them.
Secondly, they understand profoundly that the most precious assets of a company are the employees, the talents. So the company tries every means to retain these talented people. Bezos himself is famous for being kind and intimate to his employees. They can chat equally. They can exchange opinions freely. All the staff is satisfied with their working environment and in this Bezos?personal charm plays an important role. He makes the employees feel that they are all masters of the company and have done something or have contributed something to the success of the company.
Of course, it is difficult to enter this company. Anyone who wants to become a member of Amazon.com has to pass very strict tests and interviews. We can say that all that work there are elites.
Third, they believe that the scale of a company is critical. That is the very reason why Bezos always pours huge amounts of money to expand their company and enlarge their business. He ignored the fact the company is still in the red, yet it never hesitates to annex the companies that they think are promising and profitable. The ambitious Bezos wants to stretch his tentacles to every field. And the miracle is that whatever Amazon.com does, it turns out to be a success.
Besides, the company highlights its brand. They believe that it is easy to establish a brand but difficult to popularize and maintain it. As a result, Amazon.com will spend 0% of their annual income on advertisement to increase the influence of their brand and make customers much more familiar with the website. This has been proved a complete success.
Insubstantial or prosperous
No doubt, Amazon.com has done a splendid job. However, many people see it with a critical eye. They are doubtful and concerned about its future. Many experts say that this entire prosperous scene is nothing but a mass of foam, whose bubbles will sooner or later burst and then nothing will remain. These doubts and concerns are not groundless. Let’s have a look at its stocks.
Amazon.com first listed its stock on NASDAQ in May 17 , at a price of about $. Then by the beginning of the year 18, the price rose slightly, no more than $10. However, after one year’s advertising and expansion, the price rocketed to $00 by the end of 18. Everyone was shocked. However, this was not the stop. The price once exceeded $400. People began to doubt. Could this be true? Was this real or insubstantial? Even Bezos himself advised people not to buy its stocks; for it was so risky that no one could tell what would happen the next day.
The fall in price at last arrived. Now its price is less than $0. Most people hold a wait-and-see attitude. They hope Amazon.com can squeeze out all the foam and come to ground again.
Besides the inflated value in the stock market, one thing cannot be ignored. That is the fact that the company is always in the red. So far Amazom.com has had a deficit every year. And the company’s business is so broad that it almost covers every single field. People wonder that if things go on like this, whether the company will soon collapse.
On the contrary, Bezos is quite confident and optimistic about the present situation. He says that now it is not yet time for them to make a profit. They must continue to invest to reach a large enough scale and Amazon.com will have a profitable future.
The Amazon is the longest river in this world and has the largest drainage area. But what will become of Amazon.com? Will it be the largest and most successful online company? Will it become the real Amazon in its domain? We do not know. But one thing is undeniable. Amazon.com is the pioneer of E-business and will leave an ineffaceable footprint in history.
E-business in China
Present Situation
Maybe my view is not correct, but to me, E-business just looks like a kind of cancer, vigorous and diffused. China, as the world’s largest developing country, cannot say no to it. Actually, E-business, a new thing from the west, reached China several years ago. However, the situation here is a little awkward. People, from experts to entrepreneurs, all admire E-business and believe that it will have a promising future. But the present development is not yet satisfactory. Or in other words, it is so weak that people can do nothing about it. In the United States, the total annual trade value has now reached billions of dollars. However, in China, it is only millions of RMB. What a disparity!
The website, 8848.com , may be the most noted online company doing E-business in China. With its headquarters in Beijing, it is now the biggest in the field and Juntao Wang, the CEO of the company says that they want to be the leader of E-business in China and are making every effort to achieve this goal. Maybe from its name, 8848, the height of Mt. Everest, we can see his goal quite clearly.
But first let’s see what you can do on this website. 8848.com mainly deals with the business among enterprises. Companies can apply to appear on this website, to which they can add links to their own official websites and more importantly; they can directly publish the latest information about their companies and the products online. In this way, more opportunities and convenience can be provided to companies, so these companies can do business more easily and efficiently. This is one of the modes of E-business.
What 8848.com is endeavoring to do is to promote the modes of BB (business to business) and BC (business to customer), which respectively means that enterprises do business with other enterprises and enterprises do business directly with individuals. These are the trends of E-business nowadays all over the world and CC (customer to customer) is also the ideal mode of doing business in the future. Difficult as it is now in China, it is developing at tremendous speed and experts predict flourishing prospects.
Another well-known online company is Eguo.com . This is a completely online retailer, resembling Amazon.com to some degree. By surfing this website, you just need to click the mouse to choose your satisfactory goods, then someone from the company will telephone you to confirm whether you will certainly purchase the goods, then some porters in red weskits will send the goods to your door within the guaranteed time and collect the money.
The company quite underscores the quality of the service that they offer to their customers, for they know that customers are much more important to an online company, compared with conventional companies. Consequently Eguo.com provides the customers with a special service�One Hour Service. With this service, customers can get what they buy online in one hour’s time if the goods are included in this service. This successful service has become widespread. Now the company has taken another step to expand its business and is building chain stores around Beijing city, thus combining E-commerce with conventional business.
One more thing that makes Eguo.com advanced and popular is the online payment. If you have a Merchant Bank visa, you can pay via the Internet and in this way cash is eliminated. Suppose you want to surprise your girlfriend with a gift, you can order it at Eguo.com, pay the money online, and then your girlfriend will receive the gift and you do not need to do anything else. Quite romantic, isn’t it? Thus, more and more people have gradually accepted online payment.
Problems
No doubt, E-business is becoming the mainstream in China and more and more people have begun to appreciate its importance. However, there do exist some problems and obstacles that block or slow down the tempo of the development of E-business in this large country.
First is the lack of personal credit in China. Maybe you cannot feel it, but it does exist in our society, and the problem is quite severe. If you pay a little attention, you may find amazingly that almost everyone is cheating in some way. In order to satisfy their personal interests, especially financial ones, many people would do anything, including deceit or securing advantages through influence or relationships, a common practice in China and called in Chinese Zouhoumen. People have the self-serving goals, to achieve their own ends.
Incredibility has already become the norm in China. Parents always teach their children to suspect others before believing what they say. This may avoid loss, but from another angel, it shows the lack of public trust in China, ironically.
This may be the sequela of the history, but it does become an obstacle to the growth of E-business in China. Credit, from the experts?point of view, is the elementary foundation of a market economy. Without it, normal business cannot go on. So what China needs to do first is to establish its own personal credit system.
Secondly, credit card is not popular in China whereas in the United States, cash plays a less important role in people’s daily life. Instead, credit card like Visa is becoming indispensable. On the contrary, ordinary people in China use cash when buying goods. Most people cannot accept credit card, despite its considerable convenience, due to the lack of credibility and the immaturity of credit card system among the banks. However, everyone has reason to believe that in the not too distant future, credit card will replace cash and become quite common in China.
Third, buying via the Internet is not still widespread in China. Today, more than sixty million people surf the Internet in China, which is a huge figure in most people’s eyes, but compared with the immense population of the country, we can by no means say that the Internet has already become popular in China. In some remote rural areas, many people, without exaggeration, still do not know what a computer is, let alone the Internet. So the Internet must be popularized before talking about doing E-business.
Fourth is the incompetence of the online companies. They themselves impede the development of E-business. The service is not satisfactory. Eguo.com has such a problem. Quite often, after you order the goods at this website, the company will telephone you to notify that the goods that you have ordered are not available, and the customers are discontented. Many other companies have only got the superficial meaning of E-business. Sometimes what they do is restricted to the provision of relevant information, far from the core meaning of E-business.
However, we cannot attribute all these to the companies. After all, E-business has just begun in China and there is definitely a long and rough way to go before its full development.
Looking forward
Tough as the progress is, most people are still optimistic about the future, for everyone has the reason to believe that based on the large population, the rapid national economic development, the establishment of personal credibility and the prevalence of the Internet, E-business will sooner or later fully merge into people’s daily life in this old and modern giant.
Conclusion
So far we have talked so much about E-business and you now may bear an idea in your mind that E-business will be the dominant way of doing business and change people’s way of living completely. However, you may overlook one point. That is when one thing becomes public and utilized by the whole society; it will become so ordinary that no one will pay much attention to it. That is why, nowadays, E-business has constantly been the focus of mass media. Maybe one day, the Internet and E-business itself will become a certain kind of public utility, like water, electricity and gas, which everyone can use at any time and any place and only pay little. Moreover, when every field of our life is cyberized in the future, the concept of E-business itself will disappear.
That is possible, definitely possible.
The E-business Revolution/ Daniel Amor ?000 by Hewlett-Packard Company, published by Prentice Hall PTR, printed in USA
The introduction, the development and the characteristics of E-business
Relevant websites
http//www.Yahoo.com search engine for information about companies
http//www.amazon.com information about this online company
http//www.8848.com the famous online company in China
http//www.eguo.com a Chinese company dealing with buying goods online
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I have once heard about a poet. His name has already escaped my mind, but one of his poems has impressed me very much. Very simple and explicit, the poem, which is entitled Life, contains only one word Net. Maybe at that time, the poet himself just wanted to depict the complexity of life, the relations among the people, the gains, the pains and the meaning of life. It is just like a net, entangled together and hard to make it clear. The amazing thing is that that concise poem accidentally, however, exactly delineates the life of the present information age. The word Net here does not simply express the conventional meaning, but a completely new thing, the Internet.
Nowadays the Internet has stretched its antennae to every corner of this world. More than three hundred million people surf the Internet now. The Internet contains so many things that no one on this planet has ever doubted that it will dominate the whole world in the future. No one can live without the Internet. In one word, it has already merged into people’s daily life.
Among the numerous fields that the Internet covers, one of them recently has become so popular that everyone seems to pay attention to it. This is E-Business. It is no longer a creation, but it has changed the way people live.
And, this paper will focus on this topic, introducing the features and development of E-Business and expressing my personal opinions about it, about its past, about its present and about its future.
E-Business
During the past few years, the Internet has evolved from a scientific network only, to a platform that enables a new conception of business. The first wave of electronic business was fundamentally an exchange of information. But as time passed, more and more types of businesses have become available electronically. Nowadays, we can buy goods online, book holidays or have texts translated over the Internet in an instant. Home banking, for example, is one application that is already provided by most banks around the world. Looking up your balance, transferring money and other transactions are done every day by millions of people. Public administration has discovered the Internet as a means to talk to the general public at election times. And it will not be too long a time before we see general elections decided on the Internet.
Defining E-business
Before we talk about E-business, we must first make the definition of E-business clear. What is E-business? Only talking about the things mentioned above is too general. Let’s listen to a story first. A student who graduated from a high school was leaving for the university where he was going to spend the next four years. His mother got everything ready for him and saw him off at the railway station. Suddenly she remembered that she had forgotten to buy him a new bicycle. Then she immediately ordered one online. And when her son got to the university, he received the bicycle at the same time. From this story, we may conclude that, briefly speaking, E-business means doing business electronically or buying and selling goods via the Internet.
One of the first to use the term E-business was IBM in 17 . At that time they launched their first thematic campaign built around the term. Until then e-commerce was the buzzword. The shift in terms also means a shift in paradigm. Until then selling was the only business that people did on the web. Broadening the approach to allow more types of businesses on the web created the new term e-business. E-commerce is just one aspect of e-business like e-franchising, e-mailing, e-marketing. E-business is about using the convenience, availability and worldwide reach to enhance existing businesses or create new virtual businesses. IBM defines E-business as “a secure, flexible and integrated approach to delivering differentiated business value by combining the systems and processes that run core business operations with the simplicity and reach made possible by the Internet technology. ?
Going online
Why are today’s companies so keen, so enthusiastic about going on the Internet and doing business online? Why are there so many dot-com companies coming out like the bamboo roots after spring roots? Here are some of the important reasons.
Expanding market reach
One of the major advantages to the Internet is its global availability. If you have a little company, it is quite simple to expand the market reach beyond your geographic location and your current customer segment. Barnes & Noble, one of the largest chains of bookshops in the United States were forced to open a branch on the Internet, because they felt the pressure of Amazon.com , which is selling books over the Internet only and attracted more and more people who traditionally went into the shops of Barnes & Noble.
Generating visibility
Another important goal, especially for small and medium-sized enterprises (the so-called SMEs) is to gain more visibility. Generating visibility is a substantial gain for every company. The better known your company is, the more people will be interested in doing business with you. The Internet allows a company to present itself at very low cost. All you need to do is setting up a new web page and include prices, products and any necessary information, which costs very little and the cost for reproduction is practically zero. You do not need to replicate a catalogue, a brochure or a flyer. Put it onto the Internet and it replicates itself.
Responsiveness
The Internet can easily support increased responsiveness to your customers. Increasing responsiveness to customers and partners is very important in tying customers to a company. Being responsive gives customers the feeling that they are treated well by the company. Responsiveness also means that when you give out e-mail addresses to your customers, somebody needs to answer these e-mails fast and competently. Although this feature nowadays is must for all companies, it was something revolutionary a few years ago. Instead of calling your logistics partner and asking what happened to your goods, you could just go to their web site and check yourself, which means a cost reduction for yourself.
Offering new services
Offering new services is also a reason for going online. Introducing new services in traditional markets is difficult and expensive. The Internet on the other hand offers the possibility to introduce new services with very little start-up costs. New services should not only be provided to customers and partners, but also to employees.
Cost reduction
This is one of the preeminent reasons for going online. The cost for real estate, service support and production can be reduced greatly through the use of Internet. Printer manufacturers such as Canon and Epson use the Internet to distribute printer drivers and updates. The cost for replicating of printer drivers and updates they sell is a very large sum in the end. The replication cost on the Internet is nearly zero. This results in more content customers and less overhead.
Strengths and advantages of E-business
E-business has become very popular recently. Then why on earth is it so attractive? If you pay a little attention to it, you may easily find some advantages to E-business and these cannot be matched by the conventional approaches to doing business.
First of all, by doing trade via the Net, businesses can expand their customer base, and even expand their product line. The limitations of factory are now negligible, for the whole world has become a big workshop. You do not need to produce the goods in one factory at one place and then transport them to various places all over the world. Nowadays seldom are products made of parts from only one country, but instead, from quite a number of countries and territories.
Secondly, business-to-business sellers can grow closer relationships. The procedure of doing business can be greatly simplified. They do business one to one through the Internet and all the middlemen can now be canceled. The major result of this is the enhancement of efficiency.
Third, products can be sampled via the Web fast, easily and free of charge. Highly developed as the modern advertising is, its influence is still quite limited. Therefore it is by no means an easy job for corporations to expand their market, even for those powerful multinational corporations. In this way, E-business can assist to do the advertising, for the Internet can reach every corner on this planet, provided there is a computer.
Last but not least, the Internet reduces the number of media transfers that are necessary to transport information. The conventional mass media, to some extent, is really inefficient. The Internet can overcome this problem without difficulty. For a corporation, it only needs to post all the information on the Net, and customers all over the world will obtain this information easily.
Concerns on the Internet
However, in this world, nothing is perfect, and the Internet is not an exception. There do exist some drawbacks to the Internet that cause great concern and impede its swift growth.
Here are some obvious and influential ones.
First the competition is growing from a local to a worldwide one. Now by doing business on the Net, what a company faces are no longer the local rivals or the domestic ones, but those from all over the world. You compete with the international competitors openly. In addition, a customer can compare the offerings of a certain company with another one much more easily. So the pressure is much heavier and numerous small companies may be driven out of business due to the fierce competition.
Next that once information has been published on the Internet, it becomes easy to copy it and use it for another business. Since the information is right there on the Net, everyone can download or duplicate it without payment, and illicitly copy a company’s method of doing business. Therefore the initiator may suffer a great loss, or even worse lose its position in the market. The best example of this in China may be the imitation of Dell by the computer manufacturer Legend . Legend copies the direct mode of doing business from Dell and has received a very satisfactory return. Although Dell has made a remarkable achievement in China, now it must face the challenge from Legend.
Then we need to pay attention to the fact that many companies are afraid that their customers won’t accept the new media. Fast as the Internet and E-business develops, still there are many people who are resistant to this new thing. Therefore the effect of product advertisement on the Net may be exerted at a discount.
Next, the New Economy makes it easier to compare prices. Prices will drop, so quality and extra services become more and more important. Because of the fierce competition, companies have to reduce the prices in order to maintain a substantial market share and to attract customers. Then when the price can no longer be reduced, the quality and extra services become their only weapons against competitors. This will impose a high standard requirement on companies and only those that can perform well will survive, exactly the same as the law of nature proposed by Darwin�Nature selects.
Finally, most companies are very concerned about security on the Internet. Actually this is not the only the concern of the companies, but also of the customers. For when you do business on the Internet, everything is open. Besides this, most of the payments are done through the credit card. As a result, there is a possibility that the password can be stolen and the loss would be extraordinarily great. What makes it worse, there are now innumerable hackers, most of them experts at computer technology, who can easily destroy a website. This can do great harm to the normal business order on the Net. Most countries, especially those developing ones, have not established effective legal regulations to supervise this field of industry.
Amazon.com
The legend of this online kingdom
Ok, so far we have talked about so many tedious things about E-business, about its features, advantages and concerns. Now let’s see something more concrete and interesting�the famous online bookshop, Amazon.com.
If you walk the streets in the United States, and randomly ask people one question Which company do you know is famous for E-business, nine out of every ten people will definitely give you the answer Amazon.com. That’s for sure.
Several years ago, when Bill Gates, king of the Microsoft Empire, was fomenting the whole world with his advanced Windows, a young guy from Wall Street in New York was driving his shabby van to the west, seeking his own dream of tomorrow. This was Jeff Bezos. Several years later, the Amazon.com has reached a market value of billion US dollars and as the founder and CEO of this online company, his personal value is estimated to be approximately 7 billion US dollars. The whole world is excited by the success of this young man and a new epoch begins.
But before we start to talk about this legendary person, let’s first see some anecdotes about his childhood. Triggered by his grandfather, a retired Atomic Energy Commission manager, Bezos dreamed at age 14 of being an astronaut or physicist and filled his family garage with science and engineering projects. By age 16, he could fix windmills, use an arc welder and castrate cattle. In his late grade school years, Bezos became fascinated with the Infinity Cube, which used a set of motorized mirrors to let the user stare into infinity. When his mother said its $0 cost was too expensive, he bought the pieces cheaply and built it himself.
Maybe in some people’s points of view, these are quite ordinary and a lot of young people can do it, maybe even better than Bezos. However, it is just these trivial things that fostered Bezos?personality and capability, and foretold his successful future career.
Actually, Bezos was very outstanding even in university. He received a bachelor’s degree of Electronical Engineering and Computer Science from Princeton University. Then he began his career on Wall Street. He used to develop computer systems and acted as hedge fund manager for Bankers Trust Co. and D.E. Shaw & Co. on Wall Street. He attained two posts of vice managers in four years, proving that he was a genius at doing business and managing. However, a small thing changed his whole life, and even the way of life of the world. One day, when he discovered that the Internet was growing at ,00 percent annually, he knew it was his opportunity and he needed to do something. He and his wife, MacKenzie, moved to Seattle and began online business out of their rented suburban house.
History always seems incredibly alike and interesting. Just as Yahoo.com was founded by Michael Yang and the Hewlett and Packard Company was founded by Hewlett and Packard, Amazon.com was also born in a small and shabby garage.
Located in Seattle, Washington, Amazon.com opened its virtual doors in July 15 with a mission to use the Internet to transform book buying into the fastest, easiest, and most enjoyable shopping experience possible. At the very beginning, Amazon.com only sold books online and no one paid any attention to this newborn baby. Those Internet companies considered it just another negligible vendor on the Web and those mega-bookstores ignored it, thinking that it was only a trivial button on a brilliant evening gown.
However, reality has the last say. Because of its considerate service, inviting price, large variety of books and tremendous convenience, more and more customers were attracted to visit this website and buy books online. Only four years after its foundation, this online bookstore had grown beyond the two biggest bookstores in the United States, Barnes and Noble and Borders, with a market value exceeding the total value of these two. Being cornered by this giant, Barnes and Noble had no choice but to establish its own bookstore online. But how could it compete with Amazon.com?
Today, Amazon.com is the place to find and discover anything you want to buy online. Its range of products sold on the Internet is not only limited to books, but has extended to many other products, from toys to CDs, from DVDs to gifts, from medicines to cosmetics, so on and so on. Or in other words, we may buy almost everything that can be found on this planet. The miracle lies in that whatever Amazon.com does, it turns out to be very successful. Only four months after it began to sell CDs online, two giants of audio and video products in the United States were so scared that they merged with each other to compete with Amazon.com. There were many other cases of this. Thus Jeff Bezos has become the new idol of many young Americans and the Godfather of E-business.
However, Americans are not interested in skin-deep descriptions, they are more enthusiastic about facts, or rather, numbers and statistics.
Well, now let’s see the following chart. They may give you a more profound and concrete understanding of its success.
Profile of Amazon.com
Date of foundation July, 15
Date of issuing of stocks May, 17
Biggest individual shareholder Bezos (41%)
Total volume of books online .7 million (the year 000)
Increasing rate of books 0,000 per week
Personnel ,000 (the year 001)
Market value 0 billion
Net assets 7 billion
Customer accounts 6. million
Number of customers 1.1 million
Countries visited More than 160
Number of copartners 0.6 million
How they do
Before we look into it, let’s first examine two completely different ways of going shopping.
You take a bus to the nearest supermarket, wandering among piles of goods and looking for what you want. You walk from one aisle to another. Sometimes the assistant’s help is necessary, for quite often you may get lost in the huge variety of goods. When you finish, the most annoying thing comes, you have to wait in a long queue for a long time to pay, growing impatient and destroying the good mood of going shopping. Then after paying the money, you, carrying bags full of your harvests, big and small, go back home on an overcrowded bus.
In comparison, you stay at home, sitting in front your computer on a comfortable chair, with soft music on. What you need to do is to surf the relevant websites, browse the lists of goods and look for what you like. Then you click the mouse and pay by your credit card, and then it is done. You just wait at home and your goods will arrive at door in several hours or for certain product several days at most.
Obviously, the later one is much better than the former. Due to its unmatchable advantages, this has become the trend and this is the very way by which those online companies attract customers.
Amazon.com is the expert at this. Starting from a small online bookstore, now it is a matchless giant of E-business, with its business range covering almost every field. Its mode of business is completely different from those conventional companies. Instead of buying products from manufacturers first then selling these goods to customers, Amazon.com turns the order around. Customers first order the goods online and then Amazon.com will buy these goods from those manufacturers accordingly, with which it has already set up a very good relationship. In this way, the cost can be greatly reduced. Amazon.com has two big distributing centers in the United States. When the goods arrive at the centers, packers pack the goods and then porters will send them to customers. This is the basic sequence of how an online purchase is made.
Although Amazon.com declares that it is totally different from other companies, for it does not have factories and shops, it still has to establish distributing centers and the goods must by sent manually. So far this cannot be changed.
What they offer
Selling books has already made Amazon.com famous and successful. However, Bezos was not satisfied with this. He saw far beyond this and believed that more and more opportunities were waiting for him. Therefore, he gradually enlarged the range of products and services, merging and buying other companies without any hesitation.
Now you can buy almost anything you want at Amazon.com. Besides books, you may search for CDs, DVDs, gifts, toys, medicines, cosmetics, clothes, electric appliance, so on and so on. The variety is definitely beyond imagination and is incomparably more varied than conventional stores.
Along with the extensive catalog of products, Amazon.com also offers a wide variety of other shopping services and partnership opportunities. For instance, the customers may see an online movie. What makes it different is that you can choose any movie and see it at any time.
Some other services cater to different demands of customers and make this website outstanding. Here are some examples to make you clearer. You may sign up for Special Occasion Reminder service, and then youll never forget to get a gift for that special someone again. You may become an Amazon.com Associate and earn money by selling books, CDs, DVDs, videos, and many other products on your website. You may sign up for Delivers and E-mail subscription service, to receive the latest reviews of exceptional new titles in categories that interest you.
Maybe the following sentence will make you understand better Opportunities are just waiting for you there; it is your affair whether to grasp them or let them slip through your fingers.
What they believe
Just like any successful companies around the globe, Amazon.com has its own corporation culture. Here are the basic principles that all the employees value and lead them to greater success.
First of all, the customers are King. So the company makes every effort to improve the services they offer to retain the old customers and to attract new ones.
Still let’s see an example of how they make buying convenient. If you want to buy the book Godfather, you just need to type the title of the book, then all the latest information, the contents, the price, the discount and even the price on other websites, will be listed in front of you. If you cannot remember the title, you can also type some keywords mentioned in the book, although this seldom happens, then the website will list all the relevant information in detail. Or even worse, if you know nothing about the book, but the color of the cover, this will do. Isn’t that amazing?
Mistakes cannot be avoided. Sometimes if it is not the company’s fault, the shippers will also apologize to the customers. Even more, if you are not content with the contents of the book, you can even send the book back and get the refund.
Why do they do all these things that others do not? Because they believe that the company will not survive without the support from customers. Actually what they compete for with other companies is nothing but customers. So they will do whatever they can to attract them.
Secondly, they understand profoundly that the most precious assets of a company are the employees, the talents. So the company tries every means to retain these talented people. Bezos himself is famous for being kind and intimate to his employees. They can chat equally. They can exchange opinions freely. All the staff is satisfied with their working environment and in this Bezos?personal charm plays an important role. He makes the employees feel that they are all masters of the company and have done something or have contributed something to the success of the company.
Of course, it is difficult to enter this company. Anyone who wants to become a member of Amazon.com has to pass very strict tests and interviews. We can say that all that work there are elites.
Third, they believe that the scale of a company is critical. That is the very reason why Bezos always pours huge amounts of money to expand their company and enlarge their business. He ignored the fact the company is still in the red, yet it never hesitates to annex the companies that they think are promising and profitable. The ambitious Bezos wants to stretch his tentacles to every field. And the miracle is that whatever Amazon.com does, it turns out to be a success.
Besides, the company highlights its brand. They believe that it is easy to establish a brand but difficult to popularize and maintain it. As a result, Amazon.com will spend 0% of their annual income on advertisement to increase the influence of their brand and make customers much more familiar with the website. This has been proved a complete success.
Insubstantial or prosperous
No doubt, Amazon.com has done a splendid job. However, many people see it with a critical eye. They are doubtful and concerned about its future. Many experts say that this entire prosperous scene is nothing but a mass of foam, whose bubbles will sooner or later burst and then nothing will remain. These doubts and concerns are not groundless. Let’s have a look at its stocks.
Amazon.com first listed its stock on NASDAQ in May 17 , at a price of about $. Then by the beginning of the year 18, the price rose slightly, no more than $10. However, after one year’s advertising and expansion, the price rocketed to $00 by the end of 18. Everyone was shocked. However, this was not the stop. The price once exceeded $400. People began to doubt. Could this be true? Was this real or insubstantial? Even Bezos himself advised people not to buy its stocks; for it was so risky that no one could tell what would happen the next day.
The fall in price at last arrived. Now its price is less than $0. Most people hold a wait-and-see attitude. They hope Amazon.com can squeeze out all the foam and come to ground again.
Besides the inflated value in the stock market, one thing cannot be ignored. That is the fact that the company is always in the red. So far Amazom.com has had a deficit every year. And the company’s business is so broad that it almost covers every single field. People wonder that if things go on like this, whether the company will soon collapse.
On the contrary, Bezos is quite confident and optimistic about the present situation. He says that now it is not yet time for them to make a profit. They must continue to invest to reach a large enough scale and Amazon.com will have a profitable future.
The Amazon is the longest river in this world and has the largest drainage area. But what will become of Amazon.com? Will it be the largest and most successful online company? Will it become the real Amazon in its domain? We do not know. But one thing is undeniable. Amazon.com is the pioneer of E-business and will leave an ineffaceable footprint in history.
E-business in China
Present Situation
Maybe my view is not correct, but to me, E-business just looks like a kind of cancer, vigorous and diffused. China, as the world’s largest developing country, cannot say no to it. Actually, E-business, a new thing from the west, reached China several years ago. However, the situation here is a little awkward. People, from experts to entrepreneurs, all admire E-business and believe that it will have a promising future. But the present development is not yet satisfactory. Or in other words, it is so weak that people can do nothing about it. In the United States, the total annual trade value has now reached billions of dollars. However, in China, it is only millions of RMB. What a disparity!
The website, 8848.com , may be the most noted online company doing E-business in China. With its headquarters in Beijing, it is now the biggest in the field and Juntao Wang, the CEO of the company says that they want to be the leader of E-business in China and are making every effort to achieve this goal. Maybe from its name, 8848, the height of Mt. Everest, we can see his goal quite clearly.
But first let’s see what you can do on this website. 8848.com mainly deals with the business among enterprises. Companies can apply to appear on this website, to which they can add links to their own official websites and more importantly; they can directly publish the latest information about their companies and the products online. In this way, more opportunities and convenience can be provided to companies, so these companies can do business more easily and efficiently. This is one of the modes of E-business.
What 8848.com is endeavoring to do is to promote the modes of BB (business to business) and BC (business to customer), which respectively means that enterprises do business with other enterprises and enterprises do business directly with individuals. These are the trends of E-business nowadays all over the world and CC (customer to customer) is also the ideal mode of doing business in the future. Difficult as it is now in China, it is developing at tremendous speed and experts predict flourishing prospects.
Another well-known online company is Eguo.com . This is a completely online retailer, resembling Amazon.com to some degree. By surfing this website, you just need to click the mouse to choose your satisfactory goods, then someone from the company will telephone you to confirm whether you will certainly purchase the goods, then some porters in red weskits will send the goods to your door within the guaranteed time and collect the money.
The company quite underscores the quality of the service that they offer to their customers, for they know that customers are much more important to an online company, compared with conventional companies. Consequently Eguo.com provides the customers with a special service�One Hour Service. With this service, customers can get what they buy online in one hour’s time if the goods are included in this service. This successful service has become widespread. Now the company has taken another step to expand its business and is building chain stores around Beijing city, thus combining E-commerce with conventional business.
One more thing that makes Eguo.com advanced and popular is the online payment. If you have a Merchant Bank visa, you can pay via the Internet and in this way cash is eliminated. Suppose you want to surprise your girlfriend with a gift, you can order it at Eguo.com, pay the money online, and then your girlfriend will receive the gift and you do not need to do anything else. Quite romantic, isn’t it? Thus, more and more people have gradually accepted online payment.
Problems
No doubt, E-business is becoming the mainstream in China and more and more people have begun to appreciate its importance. However, there do exist some problems and obstacles that block or slow down the tempo of the development of E-business in this large country.
First is the lack of personal credit in China. Maybe you cannot feel it, but it does exist in our society, and the problem is quite severe. If you pay a little attention, you may find amazingly that almost everyone is cheating in some way. In order to satisfy their personal interests, especially financial ones, many people would do anything, including deceit or securing advantages through influence or relationships, a common practice in China and called in Chinese Zouhoumen. People have the self-serving goals, to achieve their own ends.
Incredibility has already become the norm in China. Parents always teach their children to suspect others before believing what they say. This may avoid loss, but from another angel, it shows the lack of public trust in China, ironically.
This may be the sequela of the history, but it does become an obstacle to the growth of E-business in China. Credit, from the experts?point of view, is the elementary foundation of a market economy. Without it, normal business cannot go on. So what China needs to do first is to establish its own personal credit system.
Secondly, credit card is not popular in China whereas in the United States, cash plays a less important role in people’s daily life. Instead, credit card like Visa is becoming indispensable. On the contrary, ordinary people in China use cash when buying goods. Most people cannot accept credit card, despite its considerable convenience, due to the lack of credibility and the immaturity of credit card system among the banks. However, everyone has reason to believe that in the not too distant future, credit card will replace cash and become quite common in China.
Third, buying via the Internet is not still widespread in China. Today, more than sixty million people surf the Internet in China, which is a huge figure in most people’s eyes, but compared with the immense population of the country, we can by no means say that the Internet has already become popular in China. In some remote rural areas, many people, without exaggeration, still do not know what a computer is, let alone the Internet. So the Internet must be popularized before talking about doing E-business.
Fourth is the incompetence of the online companies. They themselves impede the development of E-business. The service is not satisfactory. Eguo.com has such a problem. Quite often, after you order the goods at this website, the company will telephone you to notify that the goods that you have ordered are not available, and the customers are discontented. Many other companies have only got the superficial meaning of E-business. Sometimes what they do is restricted to the provision of relevant information, far from the core meaning of E-business.
However, we cannot attribute all these to the companies. After all, E-business has just begun in China and there is definitely a long and rough way to go before its full development.
Looking forward
Tough as the progress is, most people are still optimistic about the future, for everyone has the reason to believe that based on the large population, the rapid national economic development, the establishment of personal credibility and the prevalence of the Internet, E-business will sooner or later fully merge into people’s daily life in this old and modern giant.
Conclusion
So far we have talked so much about E-business and you now may bear an idea in your mind that E-business will be the dominant way of doing business and change people’s way of living completely. However, you may overlook one point. That is when one thing becomes public and utilized by the whole society; it will become so ordinary that no one will pay much attention to it. That is why, nowadays, E-business has constantly been the focus of mass media. Maybe one day, the Internet and E-business itself will become a certain kind of public utility, like water, electricity and gas, which everyone can use at any time and any place and only pay little. Moreover, when every field of our life is cyberized in the future, the concept of E-business itself will disappear.
That is possible, definitely possible.
The E-business Revolution/ Daniel Amor ?000 by Hewlett-Packard Company, published by Prentice Hall PTR, printed in USA
The introduction, the development and the characteristics of E-business
Relevant websites
http//www.Yahoo.com search engine for information about companies
http//www.amazon.com information about this online company
http//www.8848.com the famous online company in China
http//www.eguo.com a Chinese company dealing with buying goods online
Mind that the sample papers like e-commerce presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Saturday, 21 July 2012
Economics
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The financial system in Japan is in need of a complete overhaul. Discuss.
What we are looking at here is the Japanese banking crisis that has been in chaos for so long. We will look at what started it, the implications that have risen over the years and what must the Japanese do in order for it to get its financial system back on track.
The Asian miracle itself was the product of falling profit rates which began to emerge in the major capitalist economies from the mid-170s onwards as firms in the United States, Europe and above all Japan directed capital into the region in the search for cheaper labour and resources. For a time investment in Asia did provide a boost to profits, so much so that for the first half of the 10s economic expansion in the region accounted for half the increase in world economic output. But by 15, the Asian boom was starting to falter. Overcapacity was developing in industries such as cars and computer chips, while the growth of exports, which have averaged around 0 percent per annum, declined to around 5 percent.
The form of the crisis that erupted in July 17 was a currency and financial meltdown; its underlying content was the overaccumulation of capital in relation to the available surplus value. In other words, it signified the opening of a struggle by the competing sections of the capital to eliminate their weaker brethren. ( 1 )
The main reason why Japan got itself into so much debt was just plain old irresponsible lending. This has been a country where a relationship or personal reference could sometimes have as much weight as millions of dollars in collateral. Other loans became a problem because they were backed by property and stocks whose value was vastly inflated in the mid � 80’s, but then took a dive after Japan’s stock market started to plummet at the end of the decade.
Perhaps a good way to visualise how bad things can get is to look at a place where the impact of a banks failure has hit home. The collapse of Hokkaido Takushoku Bank preceded the nationalisation of the Long Term Credit Bank by nearly a year. It announced last November it would be closing it doors due to billions of dollars in bad loans. The news and its impact was analogous in some ways to what Detroit might be like if General Motors calls it quits. (cnn.com)
Not only that, but behind this lending was the handling of loans which was the major factor behind the Asian financial crisis. There is categories to how the loans were handled. The first one is improper bank management and the circumvention of rules. This is related to that regulators may not have known that they were breaking violations and also that they did know but did not enforce the rules. The second problem here is reckless real estate lending. This was the introduction of competition into a system not based on strict disclosure rules and monitoring but on cartellized co-operation, and, therefore, provides temptation and opportunities for shady deals.
The next is relationship business. This is based on when a leading firm or bank misuses its power and exploits affiliated companies by shifting to them especially risky business, regardless of the desires of the affiliate. So the non-banks were used for purposes of rule circumvention and transfer of risky projects but were left unsupported when their loans became irrecoverable.
The final one is Fraud. An argument can be made that fraud will always happen no matter how the regulatory system is designed If someone wants to cheat they will. There was a lot of insider trading among banks, such as the withdrawal of large amounts of deposits one day before Kizu Credit was closed. Other factors that occurred were bribery and deals done by so called Mafia connections. So we can see the reasons behind the bad loan situations that were responsible for the collapse of the Asian market. As a result of this crisis, Japanese banks under financial stress as financial deregulation narrows their spreads between borrowing money and lending money, the weak economy reduces demand for their services and huge losses on real estate and other loans depleted their capital. Concerns about the health of Japans banking system have forced even top Japanese banks to pay a premium to borrow in the interbank market, making Japanese banks less competitive both at home and abroad. Even the main - bank relationship that has historically locked Japanese customers to their primary bank is threatened under the strain of competition from securities markets and foreign banks with lower cost funds.
The true value of problem loans in Japans financial system has reached Y150,000 bn. (Dollars 1,00 bn.)
The consequences that have arisen as a result of this
Japans banks have traditionally been among the worlds largest lenders. There is also the impact their turmoil is having on Japanese businesses and consumers, which also extends abroad.
As a result of this, banks like the Long-Term Credit Bank of Japan Ltd ( Nations 10th largest ) was declared insolvent. The bank was established to help finance post war growth, primarily dealt with corporate Japan. And most of its business of providing long term loans to big businesses had dried up years ago.
Worried consumers and companies have little desire to spend when theyre anxious about the future. If theyre spending less, that usually means less spent on imports too.
Complicating matters are international banking rules that require money to be set aside to cover problem loans. That means less money is available to lend, a worsening problem as more loans default in the weakening economy. It is not helped by the slowdown of the US economy. According to Thomas Donahue ( US Chamber of Commerce ), We (in the US) are beginning to lay off workers in factories and in high tech industries. And these are people of every level, technically competent people, moderately educated, and workers without skills. We need them at every level. And they will all lose jobs if we lose the source of where we sell our products. So in Japan unemployment has risen to 4.7%, just below record of 4.%. If unemployment continues to rise then it could spell disaster in the economy as Japan is leader in technology.
In order for Japan to rebuild for the future, Japan is undertaking a plan known as the Big Bang (previously done in the UK) which is a financial overhaul aimed at rebuilding a rickety banking system and changing the way the worlds second-largest economy does business. Nicknamed after similar British financial reforms in the 180s, the changes also are being touted as the engine behind Japans transformation from a society dominated by bureaucrats to one that is consumer driven. The Japanese consumer stands to benefit as well with an array of new investment and saving options. This plan is to be implemented sometime in 001. Some of the changes like easing securities sales have already been implemented along with the lifting of restrictions on foreign currency trading.
Among the rules set out Further liberalisation of sales of mutual funds and securities and brokers commissions fees and the abolition of the securities transaction tax.
Tougher guidelines to keep banks from amassing too much debt.
Greater disclosures of corporate information which will allow investors to better judge whether a stock is a good buy.
The abolition of barriers between the work of banks, brokerages and insurers.
Also they should add more competition. Deregulation could break up the ministry of finances system in which bureaucrats make sure major players in any given industry get a piece of the pie, ensuring employment but keeping inefficient companies afloat.
Thus, there are signs the problems are finally being acknowledged by the government. Among other things, the Prime Minister of Japan had launched a $500 billion-plus financial stabilisation package which was announce earlier in the year. ( cnn.com ) Most of the money is earmarked for replenishing capital at banks so they will be encouraged to lend again. Also a plan to reduce the vulnerability of banks to stock market fluctuations by setting up a fund to buy part of their vast shareholdings.
To eliminate bad debt and restructure the banks means not only the closure or merger of financial conglomerates and financial institutions, but the sale of the assets which were financed by the loans.
With the presidential elections coming up each candidate has put forward their ideas on how to improve the falling economy. This can be good, as the Japanese people will vote for whom will they think will do the biggest clean up of the Japanese economy, so we could be looking at a brighter future in Japan.
Instead of sheltering banks from failure, the government must allow the cleansing action of the marketplace to operate, Unless and until Japanese banks are subject to the same forces facing their manufacturing counterparts they will be unable to compete on a level playing field. Thus, the recent rash of Japanese bank failures is actually a positive development giving the remaining banks a strong incentive to strengthen their balance sheets and to focus on profits rather than market share.
So we can see from our analysis the implications that have risen as a result of the Japanese collapse in the economy which have proved disastrous for the worlds second largest economy and also the plans that have been drawn up for the future in Japan. The plan known as the Big Bang should help new growth and development in the financial system, as well as the recent decline in Japan, it should push it back among the ranks of the worlds leading financial centers.
Mind that the sample papers like Economics presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
The financial system in Japan is in need of a complete overhaul. Discuss.
What we are looking at here is the Japanese banking crisis that has been in chaos for so long. We will look at what started it, the implications that have risen over the years and what must the Japanese do in order for it to get its financial system back on track.
The Asian miracle itself was the product of falling profit rates which began to emerge in the major capitalist economies from the mid-170s onwards as firms in the United States, Europe and above all Japan directed capital into the region in the search for cheaper labour and resources. For a time investment in Asia did provide a boost to profits, so much so that for the first half of the 10s economic expansion in the region accounted for half the increase in world economic output. But by 15, the Asian boom was starting to falter. Overcapacity was developing in industries such as cars and computer chips, while the growth of exports, which have averaged around 0 percent per annum, declined to around 5 percent.
The form of the crisis that erupted in July 17 was a currency and financial meltdown; its underlying content was the overaccumulation of capital in relation to the available surplus value. In other words, it signified the opening of a struggle by the competing sections of the capital to eliminate their weaker brethren. ( 1 )
The main reason why Japan got itself into so much debt was just plain old irresponsible lending. This has been a country where a relationship or personal reference could sometimes have as much weight as millions of dollars in collateral. Other loans became a problem because they were backed by property and stocks whose value was vastly inflated in the mid � 80’s, but then took a dive after Japan’s stock market started to plummet at the end of the decade.
Perhaps a good way to visualise how bad things can get is to look at a place where the impact of a banks failure has hit home. The collapse of Hokkaido Takushoku Bank preceded the nationalisation of the Long Term Credit Bank by nearly a year. It announced last November it would be closing it doors due to billions of dollars in bad loans. The news and its impact was analogous in some ways to what Detroit might be like if General Motors calls it quits. (cnn.com)
Not only that, but behind this lending was the handling of loans which was the major factor behind the Asian financial crisis. There is categories to how the loans were handled. The first one is improper bank management and the circumvention of rules. This is related to that regulators may not have known that they were breaking violations and also that they did know but did not enforce the rules. The second problem here is reckless real estate lending. This was the introduction of competition into a system not based on strict disclosure rules and monitoring but on cartellized co-operation, and, therefore, provides temptation and opportunities for shady deals.
The next is relationship business. This is based on when a leading firm or bank misuses its power and exploits affiliated companies by shifting to them especially risky business, regardless of the desires of the affiliate. So the non-banks were used for purposes of rule circumvention and transfer of risky projects but were left unsupported when their loans became irrecoverable.
The final one is Fraud. An argument can be made that fraud will always happen no matter how the regulatory system is designed If someone wants to cheat they will. There was a lot of insider trading among banks, such as the withdrawal of large amounts of deposits one day before Kizu Credit was closed. Other factors that occurred were bribery and deals done by so called Mafia connections. So we can see the reasons behind the bad loan situations that were responsible for the collapse of the Asian market. As a result of this crisis, Japanese banks under financial stress as financial deregulation narrows their spreads between borrowing money and lending money, the weak economy reduces demand for their services and huge losses on real estate and other loans depleted their capital. Concerns about the health of Japans banking system have forced even top Japanese banks to pay a premium to borrow in the interbank market, making Japanese banks less competitive both at home and abroad. Even the main - bank relationship that has historically locked Japanese customers to their primary bank is threatened under the strain of competition from securities markets and foreign banks with lower cost funds.
The true value of problem loans in Japans financial system has reached Y150,000 bn. (Dollars 1,00 bn.)
The consequences that have arisen as a result of this
Japans banks have traditionally been among the worlds largest lenders. There is also the impact their turmoil is having on Japanese businesses and consumers, which also extends abroad.
As a result of this, banks like the Long-Term Credit Bank of Japan Ltd ( Nations 10th largest ) was declared insolvent. The bank was established to help finance post war growth, primarily dealt with corporate Japan. And most of its business of providing long term loans to big businesses had dried up years ago.
Worried consumers and companies have little desire to spend when theyre anxious about the future. If theyre spending less, that usually means less spent on imports too.
Complicating matters are international banking rules that require money to be set aside to cover problem loans. That means less money is available to lend, a worsening problem as more loans default in the weakening economy. It is not helped by the slowdown of the US economy. According to Thomas Donahue ( US Chamber of Commerce ), We (in the US) are beginning to lay off workers in factories and in high tech industries. And these are people of every level, technically competent people, moderately educated, and workers without skills. We need them at every level. And they will all lose jobs if we lose the source of where we sell our products. So in Japan unemployment has risen to 4.7%, just below record of 4.%. If unemployment continues to rise then it could spell disaster in the economy as Japan is leader in technology.
In order for Japan to rebuild for the future, Japan is undertaking a plan known as the Big Bang (previously done in the UK) which is a financial overhaul aimed at rebuilding a rickety banking system and changing the way the worlds second-largest economy does business. Nicknamed after similar British financial reforms in the 180s, the changes also are being touted as the engine behind Japans transformation from a society dominated by bureaucrats to one that is consumer driven. The Japanese consumer stands to benefit as well with an array of new investment and saving options. This plan is to be implemented sometime in 001. Some of the changes like easing securities sales have already been implemented along with the lifting of restrictions on foreign currency trading.
Among the rules set out Further liberalisation of sales of mutual funds and securities and brokers commissions fees and the abolition of the securities transaction tax.
Tougher guidelines to keep banks from amassing too much debt.
Greater disclosures of corporate information which will allow investors to better judge whether a stock is a good buy.
The abolition of barriers between the work of banks, brokerages and insurers.
Also they should add more competition. Deregulation could break up the ministry of finances system in which bureaucrats make sure major players in any given industry get a piece of the pie, ensuring employment but keeping inefficient companies afloat.
Thus, there are signs the problems are finally being acknowledged by the government. Among other things, the Prime Minister of Japan had launched a $500 billion-plus financial stabilisation package which was announce earlier in the year. ( cnn.com ) Most of the money is earmarked for replenishing capital at banks so they will be encouraged to lend again. Also a plan to reduce the vulnerability of banks to stock market fluctuations by setting up a fund to buy part of their vast shareholdings.
To eliminate bad debt and restructure the banks means not only the closure or merger of financial conglomerates and financial institutions, but the sale of the assets which were financed by the loans.
With the presidential elections coming up each candidate has put forward their ideas on how to improve the falling economy. This can be good, as the Japanese people will vote for whom will they think will do the biggest clean up of the Japanese economy, so we could be looking at a brighter future in Japan.
Instead of sheltering banks from failure, the government must allow the cleansing action of the marketplace to operate, Unless and until Japanese banks are subject to the same forces facing their manufacturing counterparts they will be unable to compete on a level playing field. Thus, the recent rash of Japanese bank failures is actually a positive development giving the remaining banks a strong incentive to strengthen their balance sheets and to focus on profits rather than market share.
So we can see from our analysis the implications that have risen as a result of the Japanese collapse in the economy which have proved disastrous for the worlds second largest economy and also the plans that have been drawn up for the future in Japan. The plan known as the Big Bang should help new growth and development in the financial system, as well as the recent decline in Japan, it should push it back among the ranks of the worlds leading financial centers.
Mind that the sample papers like Economics presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Monday, 16 July 2012
EU - Problems and Perspectives
We are ready to represent the best custom paper writing assistance that can cope with any task like EU - Problems and Perspectives even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like EU - Problems and Perspectives in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
Part 1 R&D Investment for the
Knowledge-Based Economy
Scientific and technological knowledge and its wide dissemination
play a vital role in the knowledge-based economy. It is widely
agreed that research and development (R&D), along with the
availability of a highly skilled workforce, the creation of an intense
interplay between the stakeholders of national innovation systems,
and the effective use of information and communication technologies,
are the key conditions for successful innovation and the competitiveness
of advanced economies.
The capacity to create and apply knowledge has become more important
in the production of goods and services. On the one hand,
production is more research-intensive, drawing on the utilisation
of research findings; on the other hand, it is technology-intensive,
drawing on the exploitation of new technology, and on the command
of the knowledge base of advanced and tailored services and
complex production processes.
This part of the document first examines the investments that various
countries are making in R&D, and the main sectors making
those investments. Secondly, some key figures on Community
funding of research by means of the Framework Programmes are
presented. Thirdly, since in most countries the business sector plays
the most important role in terms of R&D spending, private investment
will be examined in more detail. As venture capital (VC)
investment ¨C from private as well as public sources ¨C becomes more
and more important for the creation of new firms and employment,
key data on VC investment will conclude this part.
Key findings
¡ö Since the mid-10s, the gap in R&D financing between the EU
and the US has almost doubled in volume terms. The gap is
mostly because the growth in R&D activities in the main EU
economies has been low by comparison to that in the US,
especially in France, the UK and Italy.
¡ö There are substantial differences between Europe and its
main competitors in the structure of their R&D funding. In
the EU, while governments account for a much larger share
of R&D investment than in the US and Japan, the situation is
the reverse in the case of business R&D. The absolute volume
and the growth of R&D investments being made by
European companies are substantially below the levels found
in the US.
¡ö The EU countries have converged in terms of the development of
their R&D system. On the one hand, most of the small EU
economies, and those that are catching up, have recorded the
highest growth rates for R&D investment and R&D intensity
(the amount of R&D investment per unit of GDP). On the other
hand, the major EU economies have registered either comparatively
moderate or negative rates for growth of R&D investment
and R&D intensity.
¡ö The business sector finances and executes a high share of R&D
in several EU countries. However, comparing the EU average to
the US and Japanese shares respectively, the EU¡¯s business sector
is lagging far behind.Perspectives
In order to meet the objective set at the Lisbon Summit in March
000 to make the EU the most competitive and dynamic knowledge-
based economy in the world by 010, the EU has a major
challenge ahead. While both the private and the public sectors
need to invest more in R&D, these investments should be made in
an effective way, with special focus on mechanisms to stimulate efficiency
throughout the whole R&D system. During the past few
years, growth in R&D financing has been insufficient, but more
progress has been made in the way the funds are allocated. For instance,
public funds are increasingly awarded on a competitive basis,
often through intermediary public funding organisations and
via public-private co-financing programmes.
Aiming at achieving the % objective by the year 010, much attention
is being paid to enhancing private sector efforts in research.
In particular, as Europe lags significantly behind the US in venture
capital financing, additional efforts have been made to support
venture capital financing in seed, start-up and expansion phases of
new business activities; these are expected to generate new business
sector R&D activities and R&D performers. Also, public sector
R&D should be strengthened with new resources for research
along with increases in public funding for private sector R&D.
Because of the potential systemic failures of national innovation
systems (mismatches, inefficiencies, lack of collaboration), an increase
in funding is not enough on its own. Other factors affecting
the volume of R&D and the level of R&D intensity should be taken
into account as well. These include, for example the regulatory
environment for R&D; the stock of human resources in research;
and the capacity of the innovation system to absorb any increases
in funding; and the capability of R&D financiers and
performers to co-operate and use funding in a productive way.
The role of governments is increasingly seen to be to act as a facilitator,
creating a favourable regulatory framework and environment
for the various players in the innovation system to conduct
research and to collaborate with each other. The key issue is stimulating
public¨Cprivate partnerships in both financing and in research
and development. In this regard, Community funding
through Framework Programmes has opened up new avenues for
more intensive collaboration and participation in multi-annual
pre-competitive R&D bringing together partners from various
countries and from different sectors of the economy. This trend is
enhanced by the implementation of the Sixth Framework Programme
with the introduction of new instruments, and by the
favourable development of Community funding for co-operative
R&D activities.Part Human Resources in S&T
Human resources are an important element of the knowledgebased
economy. The role of human resources in economic processes
is being re-defined ¨C from the creator of knowledge in
S&T processes to the applicant of knowledge within broader the
economy. Human resources in S&T are measured by the numbers
of people in S&T related occupations, and the level of formal
educational qualifications in the labour force.
This section analyses key indicators on human resources in S&T,
including numbers of researchers, graduates in S&T (especially
new PhDs), investment in tertiary education, international mobility
of students and researchers and women in S&T.
Key findings
¡ö In the EU Member States, the proportion of researchers in the
labour force is low compared to the US and Japan; only Finland
and Sweden are at the same high level.
¡ö The EU produces more S&T graduates than the US or Japan,
both in absolute terms and in relation to population size.
¡ö EU Member States invest less of their national resources in tertiary
education than the US, but more than Japan.
¡ö The main foreign destinations of EU students are the US and
Canada. The main regions of origin of foreign researchers in the
EU are other European countries, Asia and Oceania.
¡ö In the EU, women are less well represented than men in S&T and
the situation is even worse among researchers.
Mind that the sample papers like EU - Problems and Perspectives presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Part 1 R&D Investment for the
Knowledge-Based Economy
Scientific and technological knowledge and its wide dissemination
play a vital role in the knowledge-based economy. It is widely
agreed that research and development (R&D), along with the
availability of a highly skilled workforce, the creation of an intense
interplay between the stakeholders of national innovation systems,
and the effective use of information and communication technologies,
are the key conditions for successful innovation and the competitiveness
of advanced economies.
The capacity to create and apply knowledge has become more important
in the production of goods and services. On the one hand,
production is more research-intensive, drawing on the utilisation
of research findings; on the other hand, it is technology-intensive,
drawing on the exploitation of new technology, and on the command
of the knowledge base of advanced and tailored services and
complex production processes.
This part of the document first examines the investments that various
countries are making in R&D, and the main sectors making
those investments. Secondly, some key figures on Community
funding of research by means of the Framework Programmes are
presented. Thirdly, since in most countries the business sector plays
the most important role in terms of R&D spending, private investment
will be examined in more detail. As venture capital (VC)
investment ¨C from private as well as public sources ¨C becomes more
and more important for the creation of new firms and employment,
key data on VC investment will conclude this part.
Key findings
¡ö Since the mid-10s, the gap in R&D financing between the EU
and the US has almost doubled in volume terms. The gap is
mostly because the growth in R&D activities in the main EU
economies has been low by comparison to that in the US,
especially in France, the UK and Italy.
¡ö There are substantial differences between Europe and its
main competitors in the structure of their R&D funding. In
the EU, while governments account for a much larger share
of R&D investment than in the US and Japan, the situation is
the reverse in the case of business R&D. The absolute volume
and the growth of R&D investments being made by
European companies are substantially below the levels found
in the US.
¡ö The EU countries have converged in terms of the development of
their R&D system. On the one hand, most of the small EU
economies, and those that are catching up, have recorded the
highest growth rates for R&D investment and R&D intensity
(the amount of R&D investment per unit of GDP). On the other
hand, the major EU economies have registered either comparatively
moderate or negative rates for growth of R&D investment
and R&D intensity.
¡ö The business sector finances and executes a high share of R&D
in several EU countries. However, comparing the EU average to
the US and Japanese shares respectively, the EU¡¯s business sector
is lagging far behind.Perspectives
In order to meet the objective set at the Lisbon Summit in March
000 to make the EU the most competitive and dynamic knowledge-
based economy in the world by 010, the EU has a major
challenge ahead. While both the private and the public sectors
need to invest more in R&D, these investments should be made in
an effective way, with special focus on mechanisms to stimulate efficiency
throughout the whole R&D system. During the past few
years, growth in R&D financing has been insufficient, but more
progress has been made in the way the funds are allocated. For instance,
public funds are increasingly awarded on a competitive basis,
often through intermediary public funding organisations and
via public-private co-financing programmes.
Aiming at achieving the % objective by the year 010, much attention
is being paid to enhancing private sector efforts in research.
In particular, as Europe lags significantly behind the US in venture
capital financing, additional efforts have been made to support
venture capital financing in seed, start-up and expansion phases of
new business activities; these are expected to generate new business
sector R&D activities and R&D performers. Also, public sector
R&D should be strengthened with new resources for research
along with increases in public funding for private sector R&D.
Because of the potential systemic failures of national innovation
systems (mismatches, inefficiencies, lack of collaboration), an increase
in funding is not enough on its own. Other factors affecting
the volume of R&D and the level of R&D intensity should be taken
into account as well. These include, for example the regulatory
environment for R&D; the stock of human resources in research;
and the capacity of the innovation system to absorb any increases
in funding; and the capability of R&D financiers and
performers to co-operate and use funding in a productive way.
The role of governments is increasingly seen to be to act as a facilitator,
creating a favourable regulatory framework and environment
for the various players in the innovation system to conduct
research and to collaborate with each other. The key issue is stimulating
public¨Cprivate partnerships in both financing and in research
and development. In this regard, Community funding
through Framework Programmes has opened up new avenues for
more intensive collaboration and participation in multi-annual
pre-competitive R&D bringing together partners from various
countries and from different sectors of the economy. This trend is
enhanced by the implementation of the Sixth Framework Programme
with the introduction of new instruments, and by the
favourable development of Community funding for co-operative
R&D activities.Part Human Resources in S&T
Human resources are an important element of the knowledgebased
economy. The role of human resources in economic processes
is being re-defined ¨C from the creator of knowledge in
S&T processes to the applicant of knowledge within broader the
economy. Human resources in S&T are measured by the numbers
of people in S&T related occupations, and the level of formal
educational qualifications in the labour force.
This section analyses key indicators on human resources in S&T,
including numbers of researchers, graduates in S&T (especially
new PhDs), investment in tertiary education, international mobility
of students and researchers and women in S&T.
Key findings
¡ö In the EU Member States, the proportion of researchers in the
labour force is low compared to the US and Japan; only Finland
and Sweden are at the same high level.
¡ö The EU produces more S&T graduates than the US or Japan,
both in absolute terms and in relation to population size.
¡ö EU Member States invest less of their national resources in tertiary
education than the US, but more than Japan.
¡ö The main foreign destinations of EU students are the US and
Canada. The main regions of origin of foreign researchers in the
EU are other European countries, Asia and Oceania.
¡ö In the EU, women are less well represented than men in S&T and
the situation is even worse among researchers.
Mind that the sample papers like EU - Problems and Perspectives presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Thursday, 12 July 2012
specify the Australian and international regulatory framework and key disclosure aspects of identifiable intangibles.
We are ready to represent the best custom paper writing assistance that can cope with any task like specify the Australian and international regulatory framework and key disclosure aspects of identifiable intangibles. even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like specify the Australian and international regulatory framework and key disclosure aspects of identifiable intangibles. in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
synopsis
Could it cost more for an Australian company to raise capital on the global markets because Australian accounting rule makers are not moving swiftly enough to convert to international accounting standards?
The scenario of Australian corporate funding costs rising because our accounting standards are out of line with those of some other countries might become reality, says PricewaterhouseCoopers partner Jan McCahey, if urgent steps are not taken to bring Australian accounting requirements in line with those of the International Accounting Standards Board (IASB).
McCahey, one of Australias pre-eminent financial reporting experts, believes the domestic accounting standard setter, the Australian Accounting Standards Board (AASB), needs to move more quickly to ensure there are as few differences as possible between the international accounting standards framework and the domestic literature.
Otherwise, notes McCahey, Australia and its business community will continue to lag behind international developments and be unable to keep in step with the rapid-fire pace at which the London-based standard setter is moving.
The more telling thing is that companies are doing business globally and to me there is going to be a move to - if you like - an alternative set of recognised accounting standards worldwide. Thats going to be the IASB standards, says McCahey, who is also a former chief accountant of the Australian Securities and Investments Commission (ASIC). If youre not using US generally accepted accounting principles or IASB standards, I think if you were trying to raise money - debt or equity - in capital markets, people are going to ask questions about the quality of your financial reporting, she says.
Her comments come at a time when the IASB is beginning to challenge the international business community with a steady stream of exposure drafts - two are presently out for public comment - with the end goal of improving financial reporting across all capital markets.
The two IASB exposure drafts that have been the subject of recent AASB invitations to comment are a 404-page potpourri of amendments to 1 international accounting standards and a 7-page tidy-up job on the accounting standards dealing with disclosure, presentation, recognition and measurement of financial instruments.
An invitation to comment is the boards document that summarises the Australian position on the international exposure draft and states the AASBs intent to bring domestic accounting standards in line with the IASB.
In the case of financial instruments, for example, it would mean Australia would actually have rules in place dealing with the recognition and measurement of financial instruments. Theres nothing in the Australian literature that deals with forcing fair value accounting for derivatives, nor is there anything substantial in accounting standards regarding the derecognition of financial assets or financial liabilities.
That general strategy of engaging with the IASB in developing and exposing proposals is a good thing, McCahey asserts, but the domestic accounting authority needs to do much more to bring forward the implementation of IASB standards in Australia. She wants a firm resolve from the standard-setter to set actions in train so Australian companies will be able to say their financial statements comply with international standards by a specific target date - such as the European implementation deadline of January 005. In this way, companies will not be left in a position where they will be penalised through no fault of their own for complying with a set of accounting pronouncements that are neither understood by nor relevant to groups or individuals making decisions related to investing.
That January 005 date is one favored by Senator Ian Campbell, the Parliamentary secretary to the Treasurer, and also one that has been endorsed by the Financial Reporting Council, the AASBs oversight body, as the adoption date for international accounting standards in a recent release.
It seems to me that it goes without saying that we as a country must move to international accounting standards because otherwise, by the years 005 and 007, you are going to have the US doing their accounting in accordance with US standards, a very large number of companies in Europe on IAS, much of Asia on IAS and for us to be doing something different is going to be a problem, says McCahey, who is also a former director of accounting standards at the Australian Accounting Research Foundation.
Its going to be a problem for corporates because, if there are two established reporting frameworks, anybody that is not reporting in accordance with either of those frameworks will incur a higher cost of capital.
Analysts and other users of financial statements will be focusing on trying to understand two kinds of accounting frameworks, and McCahey believes companies could find themselves facing rather uncomfortable questions from market participants if they are reporting under a set of accounting rules that is not emanating from the London-based IASB or the US Financial Accounting Standards Board.
People are going to gear up for understanding IAS and understanding US Generally Accepted Accounting Principles (GAAP). Companies preparing accounts not in accordance with either of those frameworks will have questions asked of them about what the differences are and why they arent doing it. There is going to be this presumption that the reporting they are adopting is of a lower quality. That will be the presumption whether thats a fact or not.
McCahey is nothing if not consistent. Her concerns about Australias lagging behind the IASBs literature were expressed before she departed her former role as ASIC chief accountant in November 000. Nearly two years later, the outstanding gaps that existed at the time she made her concerns known remain.
Australia has often prided itself on having a quality set of accounting standards, she explains, but the fact that Australia does not have accounting standards in significant areas such as the recognition and measurement of financial instruments and pension or superannuation accounting makes that claim less credible the longer these gaps remain.
When the earlier program to harmonise Australian accounting standards began in 16, the AASBs objective was to ensure that compliance with Australian accounting standards meant compliance with the material produced by the then International Accounting Standards Committee (IASC), which was the IASBs predecessor body. That process was designed to exclude the options contained in those accounting pronouncements that were considered to be counterproductive to the objectives of standardisation and good financial reporting.
This all took place at a time when the international standard setter did not have as complete a suite of accounting pronouncements as it has now.
At that stage, there wasnt nearly as big a gap between IAS standards and Australian standards as there is now, McCahey explains. Over that period the IASC issued a whole lot of new accounting standards - standards on tax, impairment, provisions, financial instruments. All of those things came out of that process. It is to me imperative that we move to closing the gap. I dont really care how we do it, to be honest. I just want it done.
Each of the issues that are on McCaheys list of gaps that need filling have been on the AASBs agenda at one time or another. Accounting for intangible assets and pension accounting were issues on which the AASB failed to promulgate standards a decade ago, and they have been the proverbial millstone around the neck of the standard setters ever since.
Those matters are all on issues the board has had difficulties dealing with over time so they are not going to be quick fixes. If we dont bridge those gaps quite quickly we will be finding ourselves with very major gaps in our standards with comparison to the IASB for a very long time, she asserts.
If you compare Australian standards with them, we have gaps in a number of areas. Sure, we have a standard on extractive industries and the IASB doesnt, but we dont have a standard on the recognition and measurement of financial instruments. We dont have a robust impairment test. We have a very small number of issues in the area of accounting for intangibles that are covered. We dont deal at all as extensively with intangible assets accounting as the IASB series of standards do. They are just four or five topics that really need to be fixed.
Another concern McCahey outlines is the need for clear communication of the boards strategy to the community in general. A clear target date for convergence with IASB pronouncements would ensure companies and others would understand the need to respond to documents that have been exposed fairly quickly because there is a set deadline to which the AASB would be working.
A specified date would also ensure that the business community in general would have some degree of accountability from the board in relation to a timetable for the delivery of an outcome.
If you expose certain proposals and your constituents understand that you need the feedback quickly because youre trying to get a standard in place to meet this deadline, then they are going to be more comfortable about acceding to that than they would be if they believed we had another 0 years to get there, McCahey says.
The IASB has issued the document on improvements recently. It isnt going to be the last document they will be issuing for three years, so we can get [the gaps in financial reporting rules in Australia] sorted out. Their next project will come out and the next one and so forth. We have so much to catch up on here before we even really start to think about doing these other things that are amendments to existing IASB.
Keeping up to date with current developments at an international level is one challenge. Implementing existing literature that is in line with both IASB and FASB pronouncements is another. McCahey points to the recent deferral of the tax effect accounting standard by the AASB as an example of where Australia could have taken one step closer to having practical convergence with international standards.
That standards implementation or effective date was deferred, according to the AASB, in order to ease the burden of compliance that companies were facing because the same implementation date - July 1 - applied to both the tax effect accounting standard and the Federal Governments tax consolidations regime.
Deferring the tax standard could not be justified, McCahey notes, in an environment where implementation of standards that lined up with the convergence objective was being done to a set timetable. If you had expressed a target date it would be pretty clear to you - you would have set your own perimeters - that you couldnt push out implementation dates willy-nilly if you were trying to achieve convergence by a particular date. It imposes a discipline on you, an accountability. And I think its an accountability the community probably deserves, McCahey argues. Each month we are not doing anything to get there, is a month less for us to do the work. We are running short of time.
There may be a need for the AASB to change the way in which it goes about setting standards in order to have some type of speedy implementation. The present process appears to be moving too slowly and it might be time, McCahey suggests, to opt for some radical changes to processes.
One idea she places on the table is that the AASB could get a sub-committee of the board to deal with domestic issues while the board itself gets on with the international agenda. Another is for the AASB to propose the introduction of a number of IASB standards in separate tranches over the next few years in order to bring some closure to the present lack of completeness and, indeed, lack of comparability between parts of the Australian and IASB material.
conclusion
Sometimes the environment is such that you need to make some changes to the way you do things, McCahey reflects. Even if these things were successful in the past. We just have a long way to catch up. brw.com
cpaonline.com
Mind that the sample papers like specify the Australian and international regulatory framework and key disclosure aspects of identifiable intangibles. presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
synopsis
Could it cost more for an Australian company to raise capital on the global markets because Australian accounting rule makers are not moving swiftly enough to convert to international accounting standards?
The scenario of Australian corporate funding costs rising because our accounting standards are out of line with those of some other countries might become reality, says PricewaterhouseCoopers partner Jan McCahey, if urgent steps are not taken to bring Australian accounting requirements in line with those of the International Accounting Standards Board (IASB).
McCahey, one of Australias pre-eminent financial reporting experts, believes the domestic accounting standard setter, the Australian Accounting Standards Board (AASB), needs to move more quickly to ensure there are as few differences as possible between the international accounting standards framework and the domestic literature.
Otherwise, notes McCahey, Australia and its business community will continue to lag behind international developments and be unable to keep in step with the rapid-fire pace at which the London-based standard setter is moving.
The more telling thing is that companies are doing business globally and to me there is going to be a move to - if you like - an alternative set of recognised accounting standards worldwide. Thats going to be the IASB standards, says McCahey, who is also a former chief accountant of the Australian Securities and Investments Commission (ASIC). If youre not using US generally accepted accounting principles or IASB standards, I think if you were trying to raise money - debt or equity - in capital markets, people are going to ask questions about the quality of your financial reporting, she says.
Her comments come at a time when the IASB is beginning to challenge the international business community with a steady stream of exposure drafts - two are presently out for public comment - with the end goal of improving financial reporting across all capital markets.
The two IASB exposure drafts that have been the subject of recent AASB invitations to comment are a 404-page potpourri of amendments to 1 international accounting standards and a 7-page tidy-up job on the accounting standards dealing with disclosure, presentation, recognition and measurement of financial instruments.
An invitation to comment is the boards document that summarises the Australian position on the international exposure draft and states the AASBs intent to bring domestic accounting standards in line with the IASB.
In the case of financial instruments, for example, it would mean Australia would actually have rules in place dealing with the recognition and measurement of financial instruments. Theres nothing in the Australian literature that deals with forcing fair value accounting for derivatives, nor is there anything substantial in accounting standards regarding the derecognition of financial assets or financial liabilities.
That general strategy of engaging with the IASB in developing and exposing proposals is a good thing, McCahey asserts, but the domestic accounting authority needs to do much more to bring forward the implementation of IASB standards in Australia. She wants a firm resolve from the standard-setter to set actions in train so Australian companies will be able to say their financial statements comply with international standards by a specific target date - such as the European implementation deadline of January 005. In this way, companies will not be left in a position where they will be penalised through no fault of their own for complying with a set of accounting pronouncements that are neither understood by nor relevant to groups or individuals making decisions related to investing.
That January 005 date is one favored by Senator Ian Campbell, the Parliamentary secretary to the Treasurer, and also one that has been endorsed by the Financial Reporting Council, the AASBs oversight body, as the adoption date for international accounting standards in a recent release.
It seems to me that it goes without saying that we as a country must move to international accounting standards because otherwise, by the years 005 and 007, you are going to have the US doing their accounting in accordance with US standards, a very large number of companies in Europe on IAS, much of Asia on IAS and for us to be doing something different is going to be a problem, says McCahey, who is also a former director of accounting standards at the Australian Accounting Research Foundation.
Its going to be a problem for corporates because, if there are two established reporting frameworks, anybody that is not reporting in accordance with either of those frameworks will incur a higher cost of capital.
Analysts and other users of financial statements will be focusing on trying to understand two kinds of accounting frameworks, and McCahey believes companies could find themselves facing rather uncomfortable questions from market participants if they are reporting under a set of accounting rules that is not emanating from the London-based IASB or the US Financial Accounting Standards Board.
People are going to gear up for understanding IAS and understanding US Generally Accepted Accounting Principles (GAAP). Companies preparing accounts not in accordance with either of those frameworks will have questions asked of them about what the differences are and why they arent doing it. There is going to be this presumption that the reporting they are adopting is of a lower quality. That will be the presumption whether thats a fact or not.
McCahey is nothing if not consistent. Her concerns about Australias lagging behind the IASBs literature were expressed before she departed her former role as ASIC chief accountant in November 000. Nearly two years later, the outstanding gaps that existed at the time she made her concerns known remain.
Australia has often prided itself on having a quality set of accounting standards, she explains, but the fact that Australia does not have accounting standards in significant areas such as the recognition and measurement of financial instruments and pension or superannuation accounting makes that claim less credible the longer these gaps remain.
When the earlier program to harmonise Australian accounting standards began in 16, the AASBs objective was to ensure that compliance with Australian accounting standards meant compliance with the material produced by the then International Accounting Standards Committee (IASC), which was the IASBs predecessor body. That process was designed to exclude the options contained in those accounting pronouncements that were considered to be counterproductive to the objectives of standardisation and good financial reporting.
This all took place at a time when the international standard setter did not have as complete a suite of accounting pronouncements as it has now.
At that stage, there wasnt nearly as big a gap between IAS standards and Australian standards as there is now, McCahey explains. Over that period the IASC issued a whole lot of new accounting standards - standards on tax, impairment, provisions, financial instruments. All of those things came out of that process. It is to me imperative that we move to closing the gap. I dont really care how we do it, to be honest. I just want it done.
Each of the issues that are on McCaheys list of gaps that need filling have been on the AASBs agenda at one time or another. Accounting for intangible assets and pension accounting were issues on which the AASB failed to promulgate standards a decade ago, and they have been the proverbial millstone around the neck of the standard setters ever since.
Those matters are all on issues the board has had difficulties dealing with over time so they are not going to be quick fixes. If we dont bridge those gaps quite quickly we will be finding ourselves with very major gaps in our standards with comparison to the IASB for a very long time, she asserts.
If you compare Australian standards with them, we have gaps in a number of areas. Sure, we have a standard on extractive industries and the IASB doesnt, but we dont have a standard on the recognition and measurement of financial instruments. We dont have a robust impairment test. We have a very small number of issues in the area of accounting for intangibles that are covered. We dont deal at all as extensively with intangible assets accounting as the IASB series of standards do. They are just four or five topics that really need to be fixed.
Another concern McCahey outlines is the need for clear communication of the boards strategy to the community in general. A clear target date for convergence with IASB pronouncements would ensure companies and others would understand the need to respond to documents that have been exposed fairly quickly because there is a set deadline to which the AASB would be working.
A specified date would also ensure that the business community in general would have some degree of accountability from the board in relation to a timetable for the delivery of an outcome.
If you expose certain proposals and your constituents understand that you need the feedback quickly because youre trying to get a standard in place to meet this deadline, then they are going to be more comfortable about acceding to that than they would be if they believed we had another 0 years to get there, McCahey says.
The IASB has issued the document on improvements recently. It isnt going to be the last document they will be issuing for three years, so we can get [the gaps in financial reporting rules in Australia] sorted out. Their next project will come out and the next one and so forth. We have so much to catch up on here before we even really start to think about doing these other things that are amendments to existing IASB.
Keeping up to date with current developments at an international level is one challenge. Implementing existing literature that is in line with both IASB and FASB pronouncements is another. McCahey points to the recent deferral of the tax effect accounting standard by the AASB as an example of where Australia could have taken one step closer to having practical convergence with international standards.
That standards implementation or effective date was deferred, according to the AASB, in order to ease the burden of compliance that companies were facing because the same implementation date - July 1 - applied to both the tax effect accounting standard and the Federal Governments tax consolidations regime.
Deferring the tax standard could not be justified, McCahey notes, in an environment where implementation of standards that lined up with the convergence objective was being done to a set timetable. If you had expressed a target date it would be pretty clear to you - you would have set your own perimeters - that you couldnt push out implementation dates willy-nilly if you were trying to achieve convergence by a particular date. It imposes a discipline on you, an accountability. And I think its an accountability the community probably deserves, McCahey argues. Each month we are not doing anything to get there, is a month less for us to do the work. We are running short of time.
There may be a need for the AASB to change the way in which it goes about setting standards in order to have some type of speedy implementation. The present process appears to be moving too slowly and it might be time, McCahey suggests, to opt for some radical changes to processes.
One idea she places on the table is that the AASB could get a sub-committee of the board to deal with domestic issues while the board itself gets on with the international agenda. Another is for the AASB to propose the introduction of a number of IASB standards in separate tranches over the next few years in order to bring some closure to the present lack of completeness and, indeed, lack of comparability between parts of the Australian and IASB material.
conclusion
Sometimes the environment is such that you need to make some changes to the way you do things, McCahey reflects. Even if these things were successful in the past. We just have a long way to catch up. brw.com
cpaonline.com
Mind that the sample papers like specify the Australian and international regulatory framework and key disclosure aspects of identifiable intangibles. presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Retailers, Wholesalers, and Their Strategy Planning
We are ready to represent the best custom paper writing assistance that can cope with any task like Retailers, Wholesalers, and Their Strategy Planning even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Retailers, Wholesalers, and Their Strategy Planning in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
When does a business cross the line from making a profit to stealing a profit? That is a hard line to gauge. Laws are designed to make that line a little clearer but laws cant out think the mind of man. If a way can be thought of to make money it already has been or is being thought of. Its where people are taken advantage of that we need to worry. There are many business in place that simply prey on the people who dont know any better. Whether its the feature on Prime-Time that shows elderly people tricked into phony home repairs or the local business that offered a friend of mine a computer at an inflated price with an outrageous financing plan, some business practices are unethical. What I will focus on is not clearly right or the clearly wrong but that vast amount of items that are in the middle. Looking at more of a gray area, Wal-Mart is generally viewed as an ethical company but even they have a reputation for unfair competition. Wal-Mart has a marketing plan that targets smaller cities with large- volume discount stores. While this may not appear to be unfair on its face, many people have felt its negative effect. When Wal-Mart moves into a market, many of its smaller competitors go out of business. Small business in small towns cant compete with the prices, availability, or selection of a huge
conglomerate like Wal-Mart. People in the towns dont have much of a choice. Pay more for less or pay less for more? Not a hard decision. But the ultimate effect is that many small businesses cant survive the competition. Is that ethically wrong? That is a very hard call to make.
For retailers, an ethical culture is essential to preserving the customer trust that has enabled the industry to flourish. Implementing this ideal, however, is becoming more of a challenge today than in years past. Most people want to do the right thing, but the changes sweeping through the industry create situations where it isnt always clear what the right thing is.
Mind that the sample papers like Retailers, Wholesalers, and Their Strategy Planning presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
When does a business cross the line from making a profit to stealing a profit? That is a hard line to gauge. Laws are designed to make that line a little clearer but laws cant out think the mind of man. If a way can be thought of to make money it already has been or is being thought of. Its where people are taken advantage of that we need to worry. There are many business in place that simply prey on the people who dont know any better. Whether its the feature on Prime-Time that shows elderly people tricked into phony home repairs or the local business that offered a friend of mine a computer at an inflated price with an outrageous financing plan, some business practices are unethical. What I will focus on is not clearly right or the clearly wrong but that vast amount of items that are in the middle. Looking at more of a gray area, Wal-Mart is generally viewed as an ethical company but even they have a reputation for unfair competition. Wal-Mart has a marketing plan that targets smaller cities with large- volume discount stores. While this may not appear to be unfair on its face, many people have felt its negative effect. When Wal-Mart moves into a market, many of its smaller competitors go out of business. Small business in small towns cant compete with the prices, availability, or selection of a huge
conglomerate like Wal-Mart. People in the towns dont have much of a choice. Pay more for less or pay less for more? Not a hard decision. But the ultimate effect is that many small businesses cant survive the competition. Is that ethically wrong? That is a very hard call to make.
For retailers, an ethical culture is essential to preserving the customer trust that has enabled the industry to flourish. Implementing this ideal, however, is becoming more of a challenge today than in years past. Most people want to do the right thing, but the changes sweeping through the industry create situations where it isnt always clear what the right thing is.
Mind that the sample papers like Retailers, Wholesalers, and Their Strategy Planning presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
Information Systems
We are ready to represent the best custom paper writing assistance that can cope with any task like Information Systems even at the eleventh hour. The matter is that we posses the greatest base of expert writers. Our staff of freelance writers includes approximately 300 experienced writers are at your disposal all year round. They are striving to provide the best ever services to the most desperate students that have already lost the hope for academic success. We offer the range of the most widely required, however, not recommended for college use papers. It is advisable to use our examples like Information Systems in learning at public-education level. Get prepared and be smart with our best essay samples cheap and fast! Get in touch and we will write excellent custom coursework or essay especially for you.
What is an Information System?
An information system involves the effectiveness use of people, processes, hardware, software, networks and technology to help achieve a company’s goals and objectives. An Information System involves using the above resources to transform data into information.
An information system can be manual or computerised, although as a result of the increasing speed and efficiency of computers, there are very few organisations today that would not have at least one computers in operations.
Types of Information Systems
Operational Systems
Operational systems involved in the introduction of a computer based system to the business environment.
This system processes the data produced day to day business transactions of a company or business. Transactions such as the ordering of stock, customer invoicing and billing.
Expert systems
An expert system is a form of Artificial Intelligence (AI) that combines the knowledge base on human reasoning and the use of extremely powerful computers. While expert systems seem to be thinking on their own they are limited by their programming. Expert systems are used in many different places an example is the fuel injection of a car.
Managing Information Systems
Managing information systems was introduced as the result of Operations Systems. A Management Information System is a computer based system that produces information for top-level, middle-level and lower-level management that is both accurate and timely.
Decision Support Systems
A Decision Support System consists of a group of people and procedures as well as a set of programmes sharing data and information. A DSS is oriented around effective decision making within the business.
Executive Information Systems
An Executive Information System supports the internal and external information requirements of top-level managers. It features the capabilities of both Decision Support Systems and Management Information Systems, hence giving far greater flexibility and support.
Office Systems
As the name suggests, this system involves most of the employees. An Office System includes LANs, WANs, e-mail, Internet, voice mail, word processing, database management, spreadsheets, desktop publishing, and intranets.
Purposes of Information Systems
The purpose of an Information System is obviously dependant upon the organisation that uses the information system, and hence the requirements for that Information System. For instance an information system is used in a library to keep record of all books, videos and CD’s that are available. In a machinery plant such as Ford Motors the information system used there would be a sophisticated system that would detail how to build cars.
Management of Information Systems
The management of information is one of the largest areas of concerns for companies and organisations. It is easy to appoint or sub-contract an analyst to look at the current system; design a new information system for you, or to code the new system and implement it for you. The CEO’s of a company or organisation usually have the higher base of power among the information system.
Central Processing Unit
The central processing unit is most commonly known as the ‘processor’, which is where the majority of the computer’s work is done. There are two major characteristics of the CPU which determine the power at which the CPU runs. First the clock speed is measured in Megahertz. Each computer instructions requires a fixed number of cycles, so the clock speed determines how many instructions per second the microprocessor. Word size is also a major determinant on the amount and speed of data that a CPU.
The Control Unit
The control unit is part of the computer hardware that locates, analyses and executes the appropriate data operation. It contains circuitry that uses electrical signals to directs other parts of the system to execute programmes.
RAM (Random Access Memory)
RAM refers to a group of memory chips that function as the computer’s primary work place. It determines the number and size of programmes that can be run at the same time, and the amount of data that can be processed at any given point. The ‘random’ information both before and after it. Information is stored in RAM chips. The two types of RAM are DRAM and SRAM. The main difference between the two is in the technology they each hold in the data.
SCSI (Small Computer System Interface)
SCSI ports allow computers to communicate with peripheral devices in a faster and more flexible manner than the basic serial and parallel interfaces. SCSI interfaces currently employ a parallel interface. This form of data transfer is a more flexible.
USB (Universal Serial Bus)
USB allows you to connect devices to computers of different platforms without having to buy expensive converter plugs. It supports data transfers of up to 1Mbps, and one USB port can support up to 17 peripheral devices such as keyboards, mice, printers, scanners, digital cameras and modems.
FireWire (IEEE 14)
FireWire ports are a faster and more expensive version of USB. They were originally developed by Apple and Texas Instruments and can do all things that USB ports can do, but at a much faster rate of up to ,00Mbits/ sec.
Bandwidth
Bandwidth is the transmission capacity of an electronic line such as a network, computer bus or channel. The value of bandwidth is measured in bits per second.
Local Area Network (LAN)
The LAN is made up of a collection of servers, workstations, a network operating system and communication links within the same geographic area. LAN’s are used to connect computer resources to each other.
WAN (Wide Area Network)
A WAN is a series of interconnected LANs spread over a wide geographical area, such as across a city, state or country. WAN networks are used in large offices which have departments spread across different locations separated by reasonable distances.
Hybrid
A hybrid can be formed by using elements from two or more of the common topologies.
Mind that the sample papers like Information Systems presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
What is an Information System?
An information system involves the effectiveness use of people, processes, hardware, software, networks and technology to help achieve a company’s goals and objectives. An Information System involves using the above resources to transform data into information.
An information system can be manual or computerised, although as a result of the increasing speed and efficiency of computers, there are very few organisations today that would not have at least one computers in operations.
Types of Information Systems
Operational Systems
Operational systems involved in the introduction of a computer based system to the business environment.
This system processes the data produced day to day business transactions of a company or business. Transactions such as the ordering of stock, customer invoicing and billing.
Expert systems
An expert system is a form of Artificial Intelligence (AI) that combines the knowledge base on human reasoning and the use of extremely powerful computers. While expert systems seem to be thinking on their own they are limited by their programming. Expert systems are used in many different places an example is the fuel injection of a car.
Managing Information Systems
Managing information systems was introduced as the result of Operations Systems. A Management Information System is a computer based system that produces information for top-level, middle-level and lower-level management that is both accurate and timely.
Decision Support Systems
A Decision Support System consists of a group of people and procedures as well as a set of programmes sharing data and information. A DSS is oriented around effective decision making within the business.
Executive Information Systems
An Executive Information System supports the internal and external information requirements of top-level managers. It features the capabilities of both Decision Support Systems and Management Information Systems, hence giving far greater flexibility and support.
Office Systems
As the name suggests, this system involves most of the employees. An Office System includes LANs, WANs, e-mail, Internet, voice mail, word processing, database management, spreadsheets, desktop publishing, and intranets.
Purposes of Information Systems
The purpose of an Information System is obviously dependant upon the organisation that uses the information system, and hence the requirements for that Information System. For instance an information system is used in a library to keep record of all books, videos and CD’s that are available. In a machinery plant such as Ford Motors the information system used there would be a sophisticated system that would detail how to build cars.
Management of Information Systems
The management of information is one of the largest areas of concerns for companies and organisations. It is easy to appoint or sub-contract an analyst to look at the current system; design a new information system for you, or to code the new system and implement it for you. The CEO’s of a company or organisation usually have the higher base of power among the information system.
Central Processing Unit
The central processing unit is most commonly known as the ‘processor’, which is where the majority of the computer’s work is done. There are two major characteristics of the CPU which determine the power at which the CPU runs. First the clock speed is measured in Megahertz. Each computer instructions requires a fixed number of cycles, so the clock speed determines how many instructions per second the microprocessor. Word size is also a major determinant on the amount and speed of data that a CPU.
The Control Unit
The control unit is part of the computer hardware that locates, analyses and executes the appropriate data operation. It contains circuitry that uses electrical signals to directs other parts of the system to execute programmes.
RAM (Random Access Memory)
RAM refers to a group of memory chips that function as the computer’s primary work place. It determines the number and size of programmes that can be run at the same time, and the amount of data that can be processed at any given point. The ‘random’ information both before and after it. Information is stored in RAM chips. The two types of RAM are DRAM and SRAM. The main difference between the two is in the technology they each hold in the data.
SCSI (Small Computer System Interface)
SCSI ports allow computers to communicate with peripheral devices in a faster and more flexible manner than the basic serial and parallel interfaces. SCSI interfaces currently employ a parallel interface. This form of data transfer is a more flexible.
USB (Universal Serial Bus)
USB allows you to connect devices to computers of different platforms without having to buy expensive converter plugs. It supports data transfers of up to 1Mbps, and one USB port can support up to 17 peripheral devices such as keyboards, mice, printers, scanners, digital cameras and modems.
FireWire (IEEE 14)
FireWire ports are a faster and more expensive version of USB. They were originally developed by Apple and Texas Instruments and can do all things that USB ports can do, but at a much faster rate of up to ,00Mbits/ sec.
Bandwidth
Bandwidth is the transmission capacity of an electronic line such as a network, computer bus or channel. The value of bandwidth is measured in bits per second.
Local Area Network (LAN)
The LAN is made up of a collection of servers, workstations, a network operating system and communication links within the same geographic area. LAN’s are used to connect computer resources to each other.
WAN (Wide Area Network)
A WAN is a series of interconnected LANs spread over a wide geographical area, such as across a city, state or country. WAN networks are used in large offices which have departments spread across different locations separated by reasonable distances.
Hybrid
A hybrid can be formed by using elements from two or more of the common topologies.
Mind that the sample papers like Information Systems presented are to be used for review only. In order to warn you and eliminate any plagiarism writing intentions, it is highly recommended not to use the essays in class. In cases you experience difficulties with essay writing in class and for in class use, order original papers with our expert writers. Cheap custom papers can be written from scratch for each customer that entrusts his or her academic success to our writing team. Order your unique assignment from the best custom writing services cheap and fast!
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