Foxmeyer Case Study Analysis Information Technology Essay

Foxmeyer Case Study Analysis Information Technology Essay FoxMeyer chipped away at thought of introducing an ERP framework to process the million request demands organization got every day. ERP framework will deal with the bundling and directing of pharmaceuticals from different merchants to a huge number of emergency clinics, centers, sedate stores, and different partners. To seek after with the establishment, Company employed Andersen Consulting and different specialists to help with the establishment. Along with ERP, FoxMeyer chose to introduce another stockroom robotization framework, expanding the multifaceted nature of its arrangement. FoxMeyer purchased the product from all around experienced seller. These frameworks were intended to consequently pick over 80% of active requests from racks in distribution centers. Ans1a. FoxMeyer pharmaceuticals had certain basic issues in the change the executives on account of lack of common sense and not investing on additional amounts of energy in usage of ERP framework. There were sure issues engaged with representatives with usage for two frameworks in an immense scope which came about them undermined over yonder employment affirmation. At FoxMeyer, reports uncovered senior administration was profoundly dedicated in the beginning stage yet in addition a few clients were not as submitted. There was some resolve issue among the distribution center workers as the undertakings Pinnacle stockroom mechanization combination undermined their employments. The end of three distribution centers and the change to the principal robotized stockroom as calamity. Harm done by the representatives was tremendous misfortune to organization. Disappointed laborers harmed inventories, orders were not recorded and furthermore there were colossal mix-ups happened since another framework battled with the elevated level of volumes. An aggregate, measure of around $34million worth of stock were lost as damage. Ans1b. Change Management is one of the basic stages an association needs to take while executing an ERP framework. Since one the serious issue emerges in the FoxMeyer was the loss of certainty among workers in their employer stability. One of the principle contributing components to this misfortune in the FoxMeyer case is the robotization of procedures and primary benefactor being the computerization of errands. Actualizing change without earlier arranging or legitimate system in FoxMeyer made catastrophe as well as disarray and agitation among laborers. Being the Boss of FoxMeyer, I would recommend following procedures in ERP usage: Correspondence Strategy: Management in FoxMeyer ought to be alloted to talk about future systems to guarantee a careful methodology. This Strategy will incorporate getting ready task plan, venture progress report and trainings for workers. FoxMeyer introduced the instance of one-end correspondence where Management were seen driving their choice to laborers which made tumult and laborers were not dedicated to change. Having legitimate correspondences from both side had brought about better participation and inspiration for workers. Effect investigation: This is a technique completely decided the current framework and examination how the ERP framework will influence the Human Resource and business condition. FoxMeyer laborers were not given data the purpose behind change and nor was counseled for the readiness of ERP framework usage. Business forms should be methodicallly reported particularly for the region which might be influenced by new framework. Data will be recorded is expected set of responsibilities and employment history which will build composes correlation on how the genuine business procedures may shift from what has been reported. This examination will help FoxMeyer to break down how fundamentally the ERP framework may influence the framework, which will be the most influenced by the execution and what pouring may be required to guarantee the perfection for the usage of new framework. Abilities investigation: Major issues during ERP usage is preparing. AS the FoxMeyer laborers were not prepared appropriately for the new framework, which brought about poor request handling, stock lost and more prominent disarray. This additionally slaughtered the interests of laborers towards change and made them less dedicated. This methodology will help FoxMeyer to break down, who needs preparing to seek after occupations purposes, to discover that should be prepared and what abilities organization need to created. FoxMeyer will get and prepare staff from inner divisions appropriately and train them to work with new framework. Ans2a. FoxMeyer Project of executing ERP framework planned to spare $40 million every year and task cost assessed to be $65 million and furthermore with complete establishment ERP framework and Automation framework was another $18 million. Ans 2b. The Project lead to Bankruptcy for FoxMeyer. FoxMeyer had a financial plan of $65 million for usage of SAP however the last execution bill was more that $100million. Additional expense likewise incorporates  £34million loss of uncollectable delivery a stock expenses. Different costs that FoxMeyer paid was loss of clients, showcase notoriety, Loss of workers, structure and Loss in Share esteems. Ans2c. An Enterprise Resource Planning (ERP) framework covers the methods and ideas utilized for the coordinated administration of organizations in general from the perspective of powerful utilization of the executives assets, to improve the productivity of a venture. They have numerous focal points both immediate and circuitous. The immediate favorable circumstances incorporate improved proficiency, data joining for better dynamic, quicker reaction time to client questions and so forth. The aberrant advantages incorporate better corporate picture, improved client altruism, consumer loyalty, etc. (Sourced from: http://www.articlesbase.com/programming articles/a-formula and-elements for-erp-disappointment 124383.html) FoxMeyer advocate ERP arrangements as a piece of their key advancement plan which would help to re-engineer their business forms so as to achieve long haul objectives. Real expense for associations doesn't just incorporate establishment cost, human expense and permitting cost. There are different expenses with the execution of ERP which as following. These expenses are difficult to quantify however are route higher than genuine expenses. Task Costs: FoxMeyer had recognition that proceeded with discernment will creates enormous adjustments for example the organization expected a sparing of $40 million every year. Mental Costs: the specialists had earlier records and history of progress which urges associations to proceed with the extend and create exclusive requirement with venture, coming about lopsided speculations. FoxMeyer had increasingly like this with what it could bite however setting out on a most optimized plan of attack venture with untalented staff. Social Costs: The counseling organization didn't remotely legitimize anticipated. De-raising the undertaking through relinquishment would have implied terrible exposure. Association Costs: Organizations pay gigantic misfortunes over deferral in tasks or absence of use strategies which results undue ventures with no yields. Absence of progress the board may likewise bring about request to control the expanding expenses of tasks and staff issues. Supervisors must acknowledge other open door cost include in the ERS framework suggestion for instance money outpourings which may bring about better yields in putting resources into different zones. Ans3. FoxMeyer had investigated and examined maturing populace of America which introduced grounds to extend their business and chance to become greater. Ans3a. FoxMeyer marked the agreement to flexibly University Health System Consortium (UHC) Ans3b. FoxMeyer expected a development in business because of a maturing populace and foreseen a development in the pharmaceutical Industry. FoxMeyers long haul objectives were to bring down their working costs, deal with the stock all the more effectively, increase more noteworthy offer by growing business sector and deals. FoxMeyer subsequent to creating and actualizing new ERS framework needed to upgrade more tasks and effectiveness and produce more request handling frameworks. Ans4. Dangers engaged with the undertaking Implementation in Fox Mayer: Specialized Risk: High innovation consistently requires broad capital for improvement. In Addition high innovation needs innovative work. It needs broad testing which takes additional time and subsidizing. FoxMeyer had a go at actualizing programming with a theory of prehistoric cosmic detonation without broad examination or preliminaries. Authoritative Size: FoxMeyer being $5 billion Company functioning as discount wholesaler and maker of pharmaceuticals item. Organization broadly actualized EPR framework thoroughly considered its association as entire rather trying and observing achievement specifically office or territory. This brought about abrupt change in business activities and giving workers progressively extreme time with their activity without broad preparing and ability appraisal. Specialized Novelty: SAP framework utilized by FoxMeyer was given elite and sparing organization with a $40million for each year on its operational expenses. Despite the fact that the advances were new and have not been inferred or tried anyplace in pharmaceuticals. FoxMeyer settled on a speedy choice without looking into or appropriate examination of SAP which later on made devastations and issues for FoxMeyer after usage. Indeed, even the SAP programming was not perfect with current equipment and frameworks utilized by FoxMeyer. Organization even neglect to break down the proficiency of utilization in eventual fate of enormous requests since it has plans of development. Specialized Expertise: SAP was new innovation for FoxMeyer laborers and they need fundamental abilities to work the organizations utilizing new innovation. SAP was acquainted with theory of how things came to be with the laborers without appropriate preparing and abilities appraisal. Ans5a. FoxMeyer utilized a hypothesis called enormous detonation Adoptions hypothesis. This hypothesis portrays the selection kind of the moment changeover, when everyone with new frameworks moves to the completely working new frameworks on given date. Ans5b. FoxMeyer venture Risks of client command which depends on responsibility from both top administration and clients. Albeit senior administration responsibility was high, reports uncover that a few clients were not as submitted. There was a resolve issue among laborers

Philosophy Unit Essay

An idea or thought that can't be valid or bogus | God, Dog, Evil | Proposition | An explanation which is either right/wrong | â€Å"God is pink† | Knowledge | Expressed in suggestions that are shaped by joining ideas, state something that is valid or bogus | â€Å"The hound is Yellow† | Three Types of Knowledge | †Propositional-â€Å"Know that† †Knowledge by Acquaintance †â€Å"Know of† †limit/Ability †â€Å"Know how† | A Priori | Propositional information that we know is directly previously (sense) experience | â€Å"2+2=4 â€Å" | A Posteriori | Propositional information that we know is correct simply after (sense) experience | â€Å"The sky is blue† | Synthetic | false by definition †Tells us something significant about the world | â€Å"Snow is white† | Analytic | True by definition | â€Å"All Bachelors are unmarried men† | Necessary | Had to be valid, valid in every conceivable world | Maths †2+2=4 | Contingent | Could be in any case | â€Å"Obama was chosen President† | Induction | Reasoning that reaches determinations from a limited assortment of explicit perceptions. | 1). The sun has consistently risen 2). The sun will consistently rise | Deduction | Reasoning in which the end must follow the premises | 1). Man is mortal 2). Socrates is man 3). Socrates is mortal | Innate | Knowledge that is available in the psyche during childbirth | Conceptual Schemes †Kant | Intuitive | suggestions that we know are directly through unadulterated idea | â€Å"I think thusly I exist† †Descartes | Empiricism | Argues that you can just have systematic from the earlier information | â€Å"All Widows were once Married† (Analytic from the earlier) | Rationalism | Argues that you can have explanatory and engineered from the earlier information (Not Plato) | â€Å"God Exists† †Descartes (Synthetic from the earlier) | All Ideas Come From Experience: Empiricism John Locke | David Hume | The brain is a Tabula Rasa †Blank Slate Sensation + Reflection Basic, complex, and conceptual thoughts Simple thoughts originate from sensation Complex + Abstract originate from reflection | Sensation makes impressions in our psyches Ideas are ‘faint impressions’ of sensations which are ‘vivid and forceful’ All musings are blends of thoughts e. g. Brilliant Mountain | Counter Arguments: Not every single basic thought originate for a fact Missing shade of blue †Hume | Complex/Abstract thoughts are not as a matter of fact general thought is required to frame the theoretical thought †Curruthers | Some thoughts are intrinsic Ideas of God/Infinity †Descartes Veined Marble †Leibniz All information is natural in the spirit, simply should be reviewed †Plato | Information about what exists must be defended by sense understanding: John Lock | 2 Fountains of Knowledge †Sensation + Reflection All thoughts are from these †So all suggestions must be too | BUT | David Hume | Hume’s Fork Relations of Ideas †Analytic from the earlier information Matters of Fact †Synthetic a posteriori information Anything is ‘Empty Metaphysical Speculation† and ought to be ‘cast to the flames’ e. g. God | Hume’s Fork itself is ’empty supernatural speculation’ †negates itself | Alfred Jules Ayer | Verification Principle Analytic or Empirically Verifiable (can be demonstrated by understanding) Anything else is insignificant e. g. Vastness | John Stewart Mill | No from the earlier information All information is a posteriori and learnt through enlistment, including rationale and science | What about logical from the earlier information? â€Å"A lone wolf isn't married† | Strengths: Sets away from on suitable objects of information †Allows us to learn without being diverted by ‘Empty Metaphysical Speculation’ The view mirrors our experience of learning †It clarifies why we learn as we do Counter Arguments: Sense experience is never sure †Leads to suspicion Senses, Dreams, Deceiving Demon †Descartes Cave Analogy †Plato | Some information about what exists is known from the earlier Self/God/EW †Descartes Forms †Plato Causation, self, space †Kant | Knowledge of relations of thoughts is from the earlier Don’t get increasingly certain †True in every single imaginable world †Russell | Experience alone is incomprehensible Needs to be interceded through a calculated plan †Kant, Saphir/Whorf | Mind contains natural information: Plato | All information is intrinsic Slave Boy Analogy No training yet perceives the evidence Learning as recalling/recollecting provoked by addressing Reason perceives truth not the faculties | But rather Boy is incited through inquiries | Leibniz | Veined Marble Mind not detached †contains ‘natural tendencies and auras, propensities or potentialities’ | Kant | Conceptual Schemes are natural Categories are inborn e. g. Space, Time, Self | The applied plan is inborn limit/capacity information, not propositional information | Counter contentions: This information can be clarified through instinct and conclusion Reason finds the information †Descartes | Innate information is preposterous †There is no all inclusive consent Children and imbeciles don’t know the easiest certainties †Locke | Innate information is a ‘near contradiction’ †Impossible to know however not realize that you know †Locke | Doctrine of Innate Ideas: Descartes | Ideas are either: Adventitious †From experience Factitious †Made up by us Innate †In the psyche during childbirth | ‘God’, ‘Infinity’, and ‘supreme perfection’ are not experienced or made up They should accordingly be intrinsic (Trademark Argument †We are aware of God, yet don't encounter God †He left his blemish on us †This is natural) | Innate thoughts give the materials to motivation to think create information without requiring experience | Counter Arguments: John Locke | The brain as a Tubula Rasa (slank record) during childbirth There is no inborn information just a posteriori information We have of positive thought of unendingness Infinity is characterized in the negative ‘never ending’, just ever experience having the option to include more | David Hume | All thoughts are framed as a matter of fact E. g. Brilliant Mountain †God is only characteristics in man consolidated and â⠂¬Ëœaugmented without limit’ | Information Through Intuition + Deduction Key Terms | Intuition | Self apparent certainties †Reached through unadulterated idea | Deduction | Conclusion came to by following same premises e. g. Sudoku †Original numbers are undeniable, different numbers found through explanation. Answer is sure | Descartes | Intuition | Self as a reasoning thing exists (The Cogito) | Deduction | God Exists ; External world exists (Ontological Argument) | Counter Arguments: Descartes’ instincts and derivation don’t work Existence of self not known through explanation †Cogito just demonstrates just the presence of thought, not a scholar e. g. BFG (Big Friendly Giant) Ontological Argument neglects to demonstrate the presence of God †Only demonstrates speculative reality †Hume Proof for presence of outer world relies upon presence of a decent God | Hume’s Fork Reason restricted to redundancies/relations of thoughts | No from the earlier information †Mill | Is assurance limited to contemplation and the repetitious? Key Terms | Introspection †Looking inwards I. e. Inside encounters Tautology †Saying something very similar twice E. g. Turn around Backwards (I. e. Scientific) | David Hume | Hume’s Fork Reason is restricted to the importance of words | Descartes | Experience is constrained to quick mindfulness We can never be certain that the outer world compares to out encounters (we may be dreaming/evil presence) | Ends: David Hume | Yes | Hume’s Fork Only relations of thoughts can be sure, all issues of actuality are available to question | Descartes | No | Reason can find certain information on the world through instinct and conclusion e. g. God exists | Kant | No | We can have certain manufactured from the earlier information on our reasonable plan e. g. We will see the world in space, time, causation | Yes | We can never know about the universe of the noumena | Experience is clear because of a theoretical plan: Kant | Mind is dynamic †Organizes understanding into classifications e. g. File organizer Ordered into Space/time/causal relations/solidarity Conceptual plan > Universal, from the earlier, important | Implications | Synthetic from the earlier information on the classes is conceivable e. g. Cutout similarity †Cutter is set (reasonable plan), What it is cutting can change, yet at the same time get a similar shape Only know the wonders, never the noumena Fishing Net/Blue Spectacles Analogy | Saphir/Whorf | Experience is requested because of the language that we utilize Linguistic relativism †Societies sort out understanding by characterizing thing with words e. g. Inuit + Snow, and Hopi + Time Conceptual Scheme > A posteriori, relative unforeseen | Implications | World as it is as yet mysterious No intrinsic plan, rather a scope of various plans |

Why You Need PCI DSS Compliance How to Pass The Audit

Why You Need PCI DSS Compliance How to Pass The Audit We are working in an age where it looks like a big part of our lives went through a digital converter. All the information we possess is slowly being turned in to Data, even in parts we didn’t expect, such as our finances.This does not necessarily need to be a bad thing for us and the security of our assets, if it is handled correctly.The way we do that is by enforcing certain rules and regulations that we can abide to in order to uphold a well established standard of working.Since there are many Fields in which we have went digital so to there are different types of standard and regulations that we have created.To get a better picture, some of those fields are:FinancialResearchMedicalMilitaryThe reasoning behind this is that, each field has their own specific set of standards that they need to uphold. Meaning that one set of rules for the Financial Field might not be fully applicable to the Medical Field.In this article we will focus on the Financial field as an example of this ki nd of regulatory obedience, more importantly the Payment Card Industry.WHAT IS PCI DSS AND WHY GET CERTIFIED?The PCI DSS (Payment Card Industry Data Security Standard) is a set of security standards made for companies which process store or transmit any type of credit card information. It has been created to provide and maintain a secure Financial Environment, above all.In the documentation, its key components are broken down in to certain mile stones or goals to make it easier for any company undertaking this process to segregate individual tasks and requirements.These Goals Have been well explained in the following table:Build and Maintain a Secure Network1. Install and maintain a firewall configuration to protect cardholder data2. Do not use vendor-supplied defaults for system passwords and other security parametersProtect Cardholder Data3. Protect stored cardholder data4. Encrypt transmission of cardholder data across open, public networksMaintain a Vulnerability Management Prog ram5. Use and regularly update anti-virus software or programs6. Develop and maintain secure systems and applicationsImplement Strong Access Control Measures7. Restrict access to cardholder data by business need-to-know8. Assign a unique ID to each person with computer access9. Restrict physical access to cardholder dataRegularly Monitor and Test Networks10. Track and monitor all access to network resources and cardholder data11. Regularly test security systems and processesMaintain an Information Security Policy12. Maintain a policy that addresses information security for employees and contractorsFrom this we can get a good glimpse in the processes handled in order to get PCI DSS Certified. But what does it mean to get Certified and why should you follow any of this?ReputationBecoming PCI DSS Certified companies give their clients the ease of mind that they are not a shady merchants and that they are in fact upholding the operation to a certain rigorous standard. This makes busines s a lot more productive and of course secure.SecurityThe overall Security that companies gain through the implementation of such a standard is a great reason on its own why they should get certified. Having a process which enables a company to have greater overall control of what is going on within their infrastructure and policies set in place to know how to react is a great boon for any enterprise.TrustThis is the biggest reason for certification. When someone reads that the company from which they are buying from is PCI DSS Certified they are well aware that certain measures have taken place and it is easier for clients to trust the company a lot more if the company itself invests in Security.MandatoryIn some cases is it mandatory to be certified.Basically if someone is dealing with client information such as their personal numbers or credit card details, in order for the business itself to run in certain locations or fields it must be PCI-DSS Compliant first. Otherwise there is the matter of extravagant fines from third party audits which go to great lengths to protect the personal data of their clients usually by legal means.The reasoning behind why companies should get certified is solid, but how do they actually get certified?WHAT IS A COMPLIANCE AUDIT?An Audit is the process of making sure that all previously mentioned goals, such as in the table above, are actually met.Usually Auditors or professionals which are very knowledgeable in their field, perform these audits in order to give their clients a passing score that they are in fact upholding their end of the deal.Auditors go through each checkpoint so to say, depending on the type of compliance in question and review everything they believe should be upheld. Auditors usually tend to be from completely neutral third party companies that have nothing to do with the company they are actually auditing.This preserves the common interest between parties and it makes sure that no foul play such as false c ertifications are taking place.The process is usually resembling a very thorough and practical QA of sorts. Where both the company in question and the auditor sit down and go through each step in a methodical way. The company provides evidence to whatever the Auditor requests and if they are satisfied, these segments get a passing score.Otherwise, if certain goals are not met and the Auditor is dissatisfied they have the means to not grant certification or even re-certification to companies until they fix everything. Usually a good time frame for these kinds of actions is given in order for everything to be dealt with in a comprehensive manner.Afterwards another audit takes place and if this time everything checks out, the company receives the highly sought after certification for being Fully Compliant.Different types of auditors are needed for different types of Compliance Certifications. They are usually focusing on one or two at the most, it’s often very hard to have an auditor which specializes in more.Compliance Auditing is important because it is most of the time the only way to get comprehensively certified in a neutral non-repudiating path.GETTING PREPARED FOR THE PCI DSS AUDITIn order to get acquainted with what is needed in order to get certified, we need to go through the PCI DSS Goals.Firewall ConfigurationHaving a Firewall in place is not enough. It needs to be well managed and configured. The difference between a bad auditor and a good one is the difference between what they accept is fine. A bad auditor is perfectly fine if the company shows them a firewall is active while a good one will question further and would usually want to see if it is Properly Configured as well and in some cases even test it.Usually Auditors are either Penetration Testers themselves or they have such professionals on standby to make different types of checks before they can verify that everything is working as it should. Make sure that your firewalls are well configu red.Vendor Supplied DefaultsUsually after an installation, inexperienced system administrators will leave the default credentials on the systems they have installed.This is a hazardous way to run things inside ones infrastructure since if an attacker finds out what type or version of technology is running on the systems, they can immediately try out all defaults first. This sounds basic, but you would be surprised how effective and common it is.Roaming through highly secured networks in order to fail on the most basic of security implementations such as default credentials. Always make sure that everything is custom and changed since before even deploying.Protect Stored Cardholder DataCardholder Data usually refers to the vital information gained from Credit Cards or any other appliance which could seriously jeopardize ones privacy.Usually Banks as well as other establishments that need to hold on to this kind of data, have to have certain protocols in how they actually preserve it from being compromised.For example there are a few questions that the Auditor could ask:Is the Data Encrypted?Is there Physical Security on site where the Data is being stored?What proactive measures such as CCTV cameras do you have in place?Is the data shared with anyone at any time?The answers to these types of questions may well be the difference between a passed or failed audit.Encrypt TransmissionAt some point in time, this type of data may be transferred. Either inside the infrastructure or publicly. During these transfers it is imperative that the data is encrypted at all times. Since it leaves from its source all the way to its destination. The reasoning behind this is the sniffing that could occur inside the network.Basically sniffing is the act of trying to intercept data when it is flowing from one point to another in order to capture it. But if the data itself is encrypted, even if it is captured it remains unintelligible. Encryption also has to be something which is cur rently held as a standard, it can’t be outdated or already proven to be easily cracked.Regularly Update Software Anti-VirusThis one I believe needs no introduction. It’s basic Security standard 101. Even so, many companies do not take responsibility on regular updating of their systems.This is becoming the main issue of infiltration today. Attackers usually manage well known exploits for older systems.Basically the older a system is the more likely it has already been exploited and exposed publicly. Attackers use these exploits to get inside. In order to prevent this, the best way is to hold your systems constantly updated and at their newest versions as to minimize the chance of public exploits working.Also, having an Anti-Virus on all hosts prevents most known malware to be activated on your system. Having the Anti-Virus updated constantly also makes sure that the latest signature database is up and running which mitigates any newly released threats as well.Develop Maintain Secure Systems and ApplicationsCustom made applications are usually a part of most companies which deal with payment methods. These systems can be proprietary and as such will need custom maintenance and dealing with bugs/security risks. Also the overall infrastructure on which it is hosted will demand good upkeep both in a practical and secure way.Basically, this point focuses on our custom builds and what we can do to make them better. Good configuration for example comes in to mind for these systems/applications.The difference often between a secure environment and a not so secure one lays in the way it was configured. Basically what it was approved to allow. Sometimes as we mentioned before defaults are not the best way to go since they might allow many unfavourable settings as well.Restrict Access to Card Holder Data by Need To Know PrincipleBasically, only the applications, databases, servers, nodes or people that absolutely need to have access to the Card Holder Data should b e allowed and no one else. This enforces the Need To Know Principle. For example, servers that have no need to access the data in any way, should not be allowed to have any network connectivity to said data.This prevents many types of missuses and attack vectors. For example if the Server that does not need to have contact is in fact compromised then it simply can’t get to the Card Holder Data.On the other hand, if everything in the network for example was allowed and any person that wanted to could pop up a shell and look through everyones records, there would be a disaster and this would not be compliant to PCI DSS Standards.Unique ID for each person that has accessEveryone that can connect on the network which is in any way close to the Card Holder Data should have their own unique ID. The reasoning behind this is that everyone has to be accountable for their actions.All run commands need to be logged and the administrators should know exactly who ran them. In the case of an em ergency or an issue, it will be well documented who caused said issues.Restrict Physical Access to Card Holder DataThe Systems or nodes which are used to connect to the Card Holder data or the ones that actually store it need to be physically protected. By using CCTV Cameras, doubled fences, Mantraps, Biometrics, etc. We make sure that access is on a need to know basis.Track Monitor all Access to the Network Card Holder DataMonitoring is one of the main ways to make sure that you have complete control of your traffic and general access. In order to have a comprehensive list of users or applications that have tried to contact the locations of the Card Holder Data you need monitoring tools and proper logging in place.Logs are a great way to provide you with evidence of what is happening and where it has already happened. By constantly monitoring all critical servers and services, companies are making sure they have a good foothold in what is happening inside their infrastructure.Reg ularly Test Systems ComponentsThis part is more inclined to Penetration Testing. Companies usually hire Penetration Testers to regularly check their Security Perimeter. This is done either Quarterly as Vulnerability Scanning or Annually as Full Blown Penetration Testing.The client wants everything connected or relevant to the Card Holder Data to be tested, basically all of the parameters that we have said are in place, now are, well, put to the test.The penetration tester will usually have a Final Report where they will explain all of the shortcomings which the client needs to have fixed within a given deadline before an auditor comes. If everything has been properly fixed, the company is certified for PCI DSS.Maintain a Policy that Addresses Information Security for All PersonnelThis point is more or less focused on the executive management rather than technical points. Basically this is where the management of the policies and paperwork come in to play. To comply with this point, the company must publish and maintain a good Security Policy which is reviewed annually and updated depending on needed changes.Aside from this, a Risk Assessment process is also implemented in order to identify threats and measure them accordingly. All personnel should also have clearly defined positions and tasks that they should carry out.It should never be left to ad hoc choices, instead it should be perfectly documented as to who is doing what and more importantly who is responsible if anything happens.We went through all of the 12 Requirements for PCI DSS and as such are now a little more knowledgeable on the subject. As it is mentioned in each one, it is vital for everything to be properly managed, documented and established.Doing things in a way that will jeopardize these requirements by usually cutting corners or costs is a full proof way to get denied PCI DSS Status.These points are there for a reason. Each has its place and meaning.RE-CERTIFICATIONAlthough going through such rigorous testing would make most people believe that it is a one time thing, actually PCI DSS needs annual re-certification.Security is a maintained process, technology moves fast and upkeep is needed as within any environment.As we mentioned earlier, audits are needed in order to confirm the validity of the security perimeter previously set in place. The auditor in question does the same validity checks as before, but this time with a bit more accent on the higher class issues from last time.The same format is upheld as well the second time around, checks by means of Penetration Testing are done, security measures are analyzed and documentation is reviewed. It is vital to mention that the auditor in this stage has the power to revoke the PCI DSS certificate if they seem fit to do so.This however does not come quick, even if inefficiencies are found in the infrastructure, usually the auditor has to give the company in question a decent period to fix all of the findings in order to get re-certified. Of course if results are not delivered within the given time frame, then sanctions such as revocation of PCI DSS Certification is undertaken.Though through constant vigilance and upkeep, companies can have a fairly easy re-certification process. If throughout the year, since as we mentioned, re-certification comes annually most times, have kept up their guard and went with all of the best practices everything should run smoothly.CONCLUSIONGetting PCI DSS Certified is no easy task. Usually it requires tremendous amounts of effort from many fields and many divisions inside a company. IT Staff have to talk to Managers, C-Suite has to develop proper strategies and so on.But ultimately, having PCI DSS Status is worth it, because it shows that you went through all of this trouble just so that your end users are safe and that gives a sense of security to all that use your services or products.

What Could Be Done First - 853 Words

A nurse wants to acquire knowledge of a specific culture. What could be done first? a. Talk to coworkers b. Review literature c. Talk to family members of the patient d. Ask others with more experience for help b. Reviewing literature about a specific culture can provide the nurse with a starting point for information about cultural standards, nutritional practices, family lines of authority, health and illness attitudes and practices. [Found through Google search â€Å"NCLEX culturally competent care†: https://quizlet.com/9340632/fundamentals-i-nclex-questions-flash-cards] During my research on an NCLEX-Style question, I was intrigued by the above question and it answer. This question in fact, seems to assess how nurses can find patient’s cultural information in order to better care for them. This desire is wise, professional and if done appropriately not only would exemplify cultural congruent care, but also would make the nurse more efficient, which would obviously lead to patient satisfaction. However, this question itself present some confusion because it does not tell if the nurse has a patient and want to acquire a knowledge about this specific patient culture or if she want by a simple curiosity find some information about a specific culture. Also, the answers options inform that the nurse may be in a facility or in a Hospital, she might have a patient surrounded by his family members, she may have her coworkers, and people more experienced than her to help herShow MoreRelatedMoral Responsibility and Harry Frankfurt1286 Words   |  5 PagesThe incompatibilists argue that one is morally responsible for what she has done given that she could have done otherwise. 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Challenges Facing The Human Resource Department - 1314 Words

Introduction of the Issue: As international businesses become more common and globalization continues to boom, many challenges face the Human Resource Department. With employees and business spanning over many countries, continents and hemispheres, businesses will face cultural diversity, technology reliance, and many other risks that go along with international businesses. Human Resource departments have been forced to become more knowledgeable in the hiring, training and retention of managers in international businesses due to these challenges. HR should first learn how best to train managers, and then utilize the following best practices to implement the training and development of managers in international business. Training Training managers is the outlying part of each best practice Human Resources must implement. To train well, HR must find the best way to go about training managers, which may be in various locations and from a broad range of cultures. 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2001 dot-com Bubble its causes, effect, and lessons learnt Free Essays

Abstract This paper looks at the causes, effects, and lessons learnt from the 2001 dot-com bubble financial crisis. To support my statements I investigate a variety of sources, including recently published academic journals, newspaper articles, books, and market reports. I find that the so called â€Å"Get Big Fast† business model that many dot-com companies employed was fundamentally flawed, and after the bubble burst many companies have found it more beneficial to move to a more prudent model. We will write a custom essay sample on 2001 dot-com Bubble: its causes, effect, and lessons learnt or any similar topic only for you Order Now Introduction The dot-com bubble was a historic speculative bubble in the stock market which occurred in the years on 1995 to 2000. As an indicator of the bubble, the NASDAQ composite index is often quoted. The NASDAQ composite index rose from 751.49 to 5,132.52, a 682% increase, from January 1995 to March 2000 (Appendix A, B). In this work, I look at factors that may have caused the 2001 dot-com bubble to grow and then subsequently burst. I look into the role of the media, interest rates, venture capital, and finally the â€Å"Get Big Fast† business model. Next I look at the effect the 2001 dot-com bubble had on companies, considering measures of survival, levels of mergers and acquisitions, and changes in image to remove association with those times, but also on investor confidence. Finally, I look at what lessons may have been learnt from the dot-com era. Cause American publications such as Forbes and the Wall Street Journal encouraged the public to invest in risky companies despite many of the companies’ disregard for basic financial and even legal principles (Lowenstein, 2004). Buffett (2000) says â€Å"Equity investors currently seem wildly optimistic in their expectations about future returns.† However, not only can the media be argued to have caused the huge growth of investment, but it can, according to Niederhoffer and Kenner (2003), also be attributed to its demise. They speak in particular about Alan Green’s â€Å"irrational exuberance† speech in December 1996 setting of a chain of events that leads to an eventual â€Å"reaction against technology, optimism, and growth†. In reality, of course, no financial crisis can be sensibly attributed to just one cause. It is more likely instead to be a combination of many. For example, the low interest rate in 1998-99 has been said to have helped increase the start-up capital amounts and lead to increased venture capital being offered (Metrik, 2007). The coining of the â€Å"Get Big Fast† belief started during the dot-com era. The initial start-ups operated with a short-term loss business plan, insisting that by grabbing the market share and dominating their specific sectors they could then charge what they wanted at a later date. Recent research (Goldfarb, Kirsch and Miller, 2006) suggests that many companies would have had better success targeting smaller niche markets. In addition, they say that the â€Å"Get Big Fast† belief drove investor behaviour during the period leading to more stocks bought and companies became overpriced. So, as a combination of a number of factors, the bubble burst and the effects were widespread. Effect The effects of the bubble bursting were that several companies went bankrupt. An example is WorldCom who admitted to billions of dollars of accounting errors (Tran, M., 2002), and as a consequence the stock price fell so drastically they had to file for bankruptcy. Many other struggling companies became acquired or merged with other companies. Aharon et al. (2010) found that there was an increase in mergers and acquisitions during the dot-com bubble. Interestingly, they also found that the pricing of mergers and acquisitions did not change. Mintel (2010) states: â€Å"The investment bond market was badly hit by the bursting of the dot com bubble in the early noughties and has been in perpetual decline ever since – in 2002†. Many companies changed their names to remove any association as a dotcom company. Cooper et al. (2005) mention how during the bear market of the early 2000s â€Å"investors react positively to name changes for firms that remove dot.com from their name†. Lessons learnt Within the technology sector, Parsons (2012) argues that greater prudence is ensuring the â€Å"sector is financially solid and is currently the only one to have more cash on its balance sheet than debt†. There also seems to be an awareness of the damage to Initial Public Offerings by companies. Recent research (Pilbeam and Nagle, 2009) suggest that â€Å"the high-tech IPO market was dramatically affected by the Dot-Com Crash and that after the crash, the number of high-tech IPOs dropped considerably†. Many companies moved away from the â€Å"Get Big Fast† belief that epitomised the dotcom era, seeing that it was not sustainable as business model. Eventually these companies would have to start to a get the fundamentals right and turn in a profit. So many were being started too quickly, all with the business plan of monopolising their particular market place, which inevitably not everyone could succeed and many as a consequence folded. Berlin (2008) says â€Å"Many of the companies that survived the dot-com bust did so by ignoring the prevailing â€Å"Get Big Fast† business model†. He talks about research by David Kirsch and the Dot Com Archive that found that they referred â€Å"micro niches† which were markets that did not offer huge profits quickly, but instead presented viable internet-based business opportunities. Companies that had learnt from the dot-com bubble were not believing that life-altering changes would happen over-night. Many believe that lessons have not been learnt from the 2001 dot-com bubble financial crisis. Many think that we are in another social media bubble currently which has very analogous characteristics to the 2001 dot-com bubble (Vass, 2012; Foley, 2012). Conclusion In this essay I have looked at the cause, effect, and lessons learnt from the 2001 dot-com bubble financial crisis. The cause unsurprisingly does not seem to come down to one single factor. The media clearly played a large part in making investors over confident during the growth and then overly pessimistic leading to its eventual demise. However, I also found that an unsound business model of the time, â€Å"Get Big Fast†, played a major role too. I found evidence that more prudent business model based on modest profits had lead to the technology sector recovering. As always, history has a habit of repeating itself, and I also looked into the believe of some that lessons have not been learnt by Social Media companies and that we may be in another Social Media bubble right now with characteristics very similar to that of the dot-com crisis. Appendix: Line graph illustrating the 2001 dot-com bubble Figure 1: The close price of the NASDAQ Composite (Yahoo! ticker symbol ^IXIC) from 2nd January 1990 until the beginning of 2012. The graph clearly illustrates the 2001 dot-com bubble, where the value of the NASQAQ composite rises steeply up until its peak in February. Data is taken from Yahoo! Finance Historical Prices available at http://uk.finance.yahoo.com/q/hp?s=^IXIC. Appendix: Table showing the extreme of the NASDAQ Composite price Table 1: Historical prices of the NASDAQ Composite (Yahoo! ticker symbol ^IXIC) at the start of its growth in 1995, to its peak in 2000, to its huge fall in 2002. Data is taken from Yahoo! Finance Historical Prices available at http://uk.finance.yahoo.com/q/hp?s=^IXIC. References Aharon, D.Y., Gavious, I., Yosef, R., 2010. Stock market bubble effects on mergers and acquisitions. The Quarterly Review of Economics and Finance, 50(4), pp.456-470. Buffett, W., 2000. Warren Buffet’s Letters to Berkshire Shareholders. Berkshire Hathaway Inc., 1 March Berlin, L., 2008. Lessons of Survival, From the Dot-Com Attic. The New York Times, 21 November. Cooper, M. J., Khorana, A., Osobov, I., Patel, A. and Rau, P.R. , 2005. Managerial Actions in Response to a Market Downturn: Valuation Effects of Name Changes in the Dot.com Decline. Journal of Corporate Finance, 11(1-2), pp. 319-335. Foley, S., 2012. Is the dot com bubble about to burstThe Independent, 4 August. Goldfarb, B.D., Kirsch, D., Miller, D., 2006. Was There Too Little Entry During the Dot Com EraRobert H. Smith School Research Paper No. RHS 06-029, 24 April. Lowenstein, R., 2004. Origins of the Crash: The Great Bubble and Its Undoing. New York: Penguin Press. Metrick, A., 2007. Venture Capital and the Finance of Innovation. New Jersey: John Wiley Sons, Inc. Mintel, 2010. Investment Bonds: Mintel marketing report. February 2010. London:Mintel International. Niederhoffer, V. And Kenner, L. 2003. Practical Speculation. New Jersey: John Wiley Sons, Inc. Parsons, A., 2012. Tech firms learn lessons of dotcom bubble. The Share Centre, 10 June. Pilbeam, K. and Nagle, F., 2009. High-Tech IPOs in the US, UK and Europe after the Dot-Com Bubble. International Journal of Financial Services Management, 4(1), pp.64-75. Tran, M., 2002. WorldCom accounting scandal. Guardian, 9 August. Vass, S., 2012. The new dotcom bubbleSunday Herald, 13 May. How to cite 2001 dot-com Bubble: its causes, effect, and lessons learnt, Essay examples

Management Accounting Assignment

Questions: a. A plant manager recently made the following statement at a team meeting: No bean counter knows enough about my responsibilities to be of any use to me. As I see it, our accountants may be needed to keep records for shareholders and the Australian Tax Office, but I dont want them sticking their noses in my day-to-day operations. Required: As a management accountant, provide a suitable reply to the plant manager. b. Wayne Deng is reviewing the statement of cash flows for his technology business. The statement has been provided by his accountant. He is dismayed that the statement shows net cash outflows for investing activities. Required: Discuss if Wayne should be concerned by this. c. Your doctor knows that you are studying accounting. He has recently received the annual report for a company in which he is a shareholder. The financial report within the annual report is lengthy and your doctor requests your advice as to whether he should contact the company to complain that the financial information is not understandable. Required: Provide a suitable reply to your doctor. Answers: a. With the increasing complexity of the businesses in recent times, it is necessary to have accurate cost and performance information relating to the companys products, services, processes, and customers. The cost information is very useful in designing products that generates profits and also satisfies the customers. It is also used to decide on the product mixes and in improving the processes by eliminating non value added activities. The choice of supplier can be made with the cost information and efficient distribution channels can be developed to make deliveries to the target customers with the help of this information. The accurate cost information is provided by the management accountants with the help of costing systems that they use to record the data of costs incurred. Normally a large company would use Activity based costing system which allocated the costs to various activities due to which such costs have arise and on the basis of usage of these activities by the product, process of service, the overhead costs are allocated. Management accountant plays a very important role in managing the costing system and on the basis of the data provided by the ABC system; the plant manager can improve the existing processes, products or services. He can focus on the value added activities and eliminate the non value added ones. Though the management accountants are present on the plant floor to observe the activities, however the information provided to the plant manager in the form of periodic reports by the costing system being maintained by the management accountant can be used by the plant manager to improve processes and make them more efficient. The role of the management accountant is to collect and process the information into meaningful results which can be used by the management to plan, evaluate and execute their business strategy by designing suitable business processes which will be cost effective and give products that would be customer satisfactory and profit making. b. Cash Flows Statements are a part of financial statements of a company. Cash flow statement consists of cash flow from operations, cash flow from investing activities and cash flow from financing activities. A company needs to have a positive cash flow to pay for its operational expenses and capital expenditures. However, it is not necessary that all categories in the cash flow statement should have a cash inflow, rather cash from operations should definitely have a cash inflow since it is the money generated from the companys core business and this cash can be used for day to day expenses and for any capital expenditure, the company can source cash from financing activities like issue of shares, taking a loan etc. Cash inflows from investing activities include proceeds from sale of assets of the company like plant, machinery and equipment. It also includes sale of any investments which have been made in another companys shares. The cash outflows from investing activities include purchase of land, plant and machinery, up gradation of existing equipment, buying a stake in another company by taking over its operations, technology and customers. Hence we see that most of the cash flow is in the form of outflow only where the company is spending in order to increase the value of its assets which will rather bear fruits for the company in the future. It is more likely for a cash flow from investing activities to be negative only. Also a company makes short term investments to make profits from increase in the other companys shares. All the investments made today which is resulting in negative outflow of cash will help the company in earning profits in the future and the cash flow will come indirectly from the increased revenues resulting from utilization of assets purchased and this inflow will come from cash flow from operations. Therefore, we can say that it is of no concern to have a negative cash flow from investing activities because the nature of the activity is such that it is rather good to have a negative figure because a positive cash flow means the company has sold off its assets and hence the financial position of the company gets affected in a negative way. A company with higher and useful assets is in a position to generate higher revenues with proper utilization of these assets. c. Annual reports are financial reports which are required to be issued annually by all companies listed on the stock exchange. It contains information related to the companys performance over the year. The growing complexity of the financial information has made the annual reports very complex and difficult to understand as the annual report should present all the information required by different stakeholders who have different demands. The UK Financial Reporting Council (FRC) requires all the companies to present annual reports which are fair, balanced and understandable and it also requires the external auditors to provide a confirmation of the company abides by the same. The UK corporate governance code has been revised to accommodate the above requirement and also states that the directors of the company should take the responsibility of presenting financial information which is necessary for the stakeholders to assess the companys performance and is fair, balanced and understandable. As a result of this requirement, most of the emphasis is laid on the front half of the report which is the narrative reporting as this reporting is meant for an ordinary shareholder which can be understood easily. The back part or the second half is more complex and is often used by analysts for valuation purposes. The aspects included on the first half of the annual report include the CEOs or the Chairmans statement which will gen erally give the positive aspects of the company, the review of operations , risk management techniques discussion and any special news relating to the company. Both good news and bad news should be mentioned in narrative reporting. For a financial report to be understood, it is important that the non financial information given should relate to the companys business model, strategies, and performance. Also it should be linked to the second half of the financial information. In case a company is unable to provide a fair, balanced and understandable financial report, a shareholder who is considered to be an informed reader may file a complaint with the FRC for the company not following the corporate governance code. References Wahlen, J.M., Baginski, S.P, Bradshaw, M., (2010), Financial Reporting, Financial Statement Analysis, and Valuation, A strategic Perspective, South- Western Cengage Learning ACCA, (2015), Accounting for Leases, accessed online on 26th May, 2016, Pwc, (2013), Practical Guide to Corporate Governance, 2013 reporting changes implementation and disclosure Kpmg, (2012), UK Corporate Governance Code (Revised 2012), Audit Committee Institute Fraser, I., Lee, B., (2016), Fair, Balanced and Understandable: Enhancing Corporate Reporting and Assurance? , Research Committee of ICAS Bruce, R., (2008), Financial Reporting: The Trouble with Annual Reports, Financial Times, accessed on 26th May, 2016.