Outsourcing Essay - 1121 Words

Outsourcing Outsourcing is when a company purchases products or services from an outside supplier rather than performing the same work within its own facilities, in order to cut costs. In other words, outsourcing is an organizations contractual relationship with a specialized outside service provider for work traditionally done internally by that organization. The decision to outsource is a major strategic one for most companies because it involves weighing the potential cost saving against the consequences of a loss in control over the product or service. Some common examples of outsourcing include manufacturing of components, computer programming services, tax compliance and other accounting functions, as well as payroll and other†¦show more content†¦These are basic decisions regarding organizational design.quot; Outsourcing based only upon a comparison of costs can lead companies to miss opportunities to gain knowledge that might lead to the development of new products or technolog ies. Business Week called companies that had outsourced too many of their core functions quot;hollow corporations,quot; and claimed that they had relinquished their reason for existence. Outsourcing can be undertaken to varying degrees, ranging from total outsourcing to selective outsourcing. Total outsourcing may involve dismantling entire departments or divisions and transferring the employees, facilities, equipment, and complete responsibility for a product or function to an outside vendor. In contrast, selective outsourcing may target a single, time-consuming task within a department, such as preparing the payroll or manufacturing a minor component, that can be handled more efficiently by an outside specialist. Companies that decide to outsource do so for a number of reasons. The primary reason is to achieve cost savings or better cost control over the outsourced function. Companies usually outsource to a vendor that specializes in a given function more efficiently thanShow MoreRelatedOutsourcing And Offshore Outsourcing : Outsourcing1038 Words   |  5 PagesRunning Head: Outsourcing and Offshore Outsourcing 1 Outsourcing and Offshore Outsourcing Natasha Bing Grantham University Outsourcing and Offshore Outsourcing 2 Abstract (Greaver, 1999) proclaims that outsourcing is of a strategic nature and that the decision-makingRead MoreOutsourcing : Outsourcing And Outsourcing1541 Words   |  7 Pagesyears, although outsourcing has been seen as a common method used to achieve a successful business, many literatures on Information System still believe that most of the software could be better off build in-house and this can also be supported with the fact that there are evidences of organisations that took a significant damage from outsourcing. Therefore, whether or not a company should outsource part of their projects, it all depends on how the organisation manages its outsourcing system. This paperRead MoreOutsourcing : Outsourcing And Outsourcing1840 Words   |  8 PagesOutsourcing, and in particular offshore outsourcing, is absolutely necessary and helps our country s economy. Outsourcing helps a company focus on those things it does best and hence increase its top line revenues while reducing costs. Outs ourcing has provided organic growth to the United States corporations and enabled them to compete more effectively in global markets. This paper seeks to explore what outsourcing is, what the difference between outsourcing and offshoring is, what effects itRead MoreOutsourcing At Schaeffer : Outsourcing1707 Words   |  7 Pages Case Study 1 : Outsourcing at Schaeffer Gayathri Kadiyala Wilmington University TABLE OF CONTENTS Outsourcing definition †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Concept of outsourcing †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦. 3 Outsourcing at Schaeffer †¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 Outsourcing: Outsourcing is a process of a company obtaining the services from an outside vendor. These services can be of different formsRead MoreOutsourcing : Effect Of Outsourcing1631 Words   |  7 Pages OUTSOURCING : EFFECTS OF OUTSOURCING IN AMERICA DHANASHREE AROTE 83360 INDEX Serial No. Topic Page No. 1. Introduction 3 2. Benefits of Outsourcing 4. 3. Negative Effects 5 4. Managing Outsourcing 7 5. 6 Key Trends 8 6. Conclusion 8 7. References 9 INTRODUCTION In today’s global business competitive environment, business organizations must innovate and adapt new strategies to sustain revenue generation, value while remaining competitive. Organizations have embraced outsourcingRead MoreAdvantages Of Outsourcing And Outsourcing1428 Words   |  6 Pagesthe advantages and disadvantages of offshoring and outsourcing. Furthermore, we will discuss some of the factors and trends that are affecting offshoring and outsourcing. Outsourcing vs. Offshoring In order to understand globalization, we have to first learn about some of the common misconceptions. The terms â€Å"outsourcing† and â€Å"offshoring† are used almost synonymously in today’s literature, however, there is a huge technical difference. Outsourcing simply occurs when a company buys any product or serviceRead MoreOutsourcing : Outsourcing Of Outsourcing Essay1307 Words   |  6 Pages1. What is BPO Business Process Outsourcing? BPO is a subset of outsourcing that involves subcontracting of various business-related operations such as accounting and customer service to a third party. The global BPO industry is estimated to be worth more than US$952 billion and is forecasted to experience strong growth between 3.5% and 7.6% CARG as can be observed in Figure1. BPO is often divided into two categories: a. Back Office Outsourcing: Internal business functions such as billing orRead MoreOutsourcing : The Trifecta Of Outsourcing1979 Words   |  8 PagesThe Trifecta of Outsourcing Financial services firms have always faced market volatility, but new challenges are forcing most to rethink their traditional operating models in favor of outsourcing. One of the main concerns within any industry is maintaining a competitive advantage. In order to do so, the company should review what should be â€Å"outsourced without damaging core strategic assets and capabilities of the firm† (Graf et al. 69). Outsourcing is seen by many executives as a panacea for allRead MoreOutsourcing : Is Outsourcing The Case Of Banks?809 Words   |  4 PagesWhat is Outsourcing in case of Banks? (As per RBI Publication) The world everywhere, banks are increasingly for outsourcing as an approach of both reducing asking price and accessing specialist gift, not ready forthcoming drawn internally and achieving dire aims. Outsourcing take care of be marked as a bank s evaluate of a third satisfaction (either a born with entity within a corporate everyone or an entity that is exterior to the corporate group) to dig activities on a continuing reality thatRead MoreOutsourcing : Outsourcing And Outsourcing1579 Words   |  7 Pagesâ€Å"Outsourcing refers to obtaining certain services or products from a third party company, essentially sourcing something like accounting services or manufacturing of a certain input to another company. While many think outsourcing refers to using a service provider in another (usually cheaper) country that is not necessarily the case. Outsourcing can be done to a company that is located anywhere, the location isn’t important.† (Offshoring vs. Outsourcing, n.d. ). There are many reason a business

Religion May Encourage Rather Than Inhibit Social Change...

Religion May Encourage Rather Than Inhibit Social Change There are many arguments for and against the notion of religion encouraging change in society. In his book The Protestant Ethic and the Spirit of Capitalism, Max Weber examines the possible relationship between the rise in Calvinism, a denomination of Protestantism, and the growth of industrialisation (or capitalism). He says that the guidelines laid down by this religion state a man must have a calling in life, or in other words a well-defined career which he pursues in a single-minded, determined manner. Followers of Calvinism were forbidden to spend the money they earned at work on luxuries such as fine clothing, big houses,†¦show more content†¦From this view, it is impossible to argue that religion can promote social change. Marx believes that religion is a conservative force. This can mean one of two things - maintaining the status quo, or reverting to traditional values. He states that religion is a conservative force due to it contributing to social order, and brainwashing the subject class into accepting their position in society without argument (a false class-consciousness). If people think their position has been given by God, they are discouraged from attempting to change their situation. Religion therefore diverts attention away from the real source of their oppression and helps to maintain ruling class power. The theories of Bird (1999) and Pryce (1979) fit in with Marxs ideas - Bird suggests that Pentacostalism (a denomination of Christianity), enabled the African-Carribbean people to cope with and adjust to a racist and unjust society. He agreed with Marxs statement that religion serves as an opium for the people. Pryce says that it encourages hard work, sexual morality, prudent management of finances and strong support of the family and community. This also reflects the Protestant ethic that Weber say as essential in the development of capitalism. There is further evidence to support the Marxist view of religion - in Medieval Europe,Show MoreRelatedStereotypes1401 Words   |  6 Pagesthe social context of our lives, regardless of race or gender (religion has a lot further to go in this area), we are presented with new obstacles to overcome. Sure, as adult citizens we may feel that there is equal opportunity available to all, but unless we have had an upbringing and education that has provided the right platform from which we can develop to our potentials, these opportunities are merely a front for equality. When analysed closely, deficiencies are revealed within our social constructRead MoreThe Role of Religion as a Conservative Force and as an Indicator of Change2079 Words   |  9 PagesThe Role of Religion as a Conservative Force and as an Indicator of Change FUNCTIONALISM Emiline Durkheim believed that religion is central to the reproduction and maintenance of social order in societies. The major function of religion is to socialise society’s members into value consensus by the following. * Setting certain values apart and infusing them with special significance. These values become moral codes or beliefs which Read MoreUsing Teaching: Making a Difference as Your Main Reference, Identify and Discuss some Important Complexities in Teachers Work 1686 Words   |  7 Pagessuccess. Teachers account for approximately 30% of students achievements (Hattie, 2002), proving that the complexities that affect teachers, affect everyone. These complexities can generally be grouped into four different topics; political, economic, social and cultural. Each of these factors offer different challenges in unique ways to teachers, however they are all important to be aware of. Political factors have the ability to greatly complicate teachers work. The curriculum is an important exampleRead More Impermanence, Selflessness, And Dissatisfaction Essay1121 Words   |  5 Pages Impermanence, Selflessness, and Dissatisfaction Buddhism is neither a religion nor a philosophy, but rather a way of life. This does not imply that Buddhism is nothing more than an ethical code: it is a way of moral, spiritual and intellectual training leading to complete freedom of the mind. (DeSilva, 1991:p 5). Of the many Buddhist sects, Zen Buddhism places particular emphasis on living ‘the right life, and does not revolve around rite and ritual. Buddhism outlines the three characteristicsRead MoreThe Problem of Definition of Religion Essay2618 Words   |  11 PagesDefinition of Religion The study of religion is problematic. There are so many dimensions to religion (belief, practice, experience, knowledge and consequences) that it is impossible to provide a conclusive definition. Most sociologists do not believe in God. Functionalist views on Religion ------------------------------- The functionalist analysis of religion is concerned with the contribution religion makes to meeting societys needs such as social solidarityRead MoreThe And Its Impact On Society1707 Words   |  7 PagesZakaria argues that societies are going through democratization where closed systems are becoming more open. Therefore, now social change is originating from the masses unlike in the past. Today democracy is not just a form of government it is a way of life. For example, a singer that is more popular is also more successful. Large groups of people are what create change. Even capitalism is becoming more democratic. 2. Zakaria defines constitutional liberalism as the goals of government such asRead MoreExistential Therapy : A Matter Of Choices Essay1699 Words   |  7 PagesChara Baines Liberty University Online Abstract Existential therapy is a self-help style of therapy based on choices. Existential therapy focuses on the here and now and the changes an individual can make in their lives if they are willing to honestly explore, self-evaluate, and make changes in their beliefs, traditions, patterns and behavioral issues. Questioning such things as death, the meaning of human existence, God’s existence, and relationships is done through a close clientRead MoreEntrepreneurship as Career Option1958 Words   |  8 Pagesbroad categories of options – Wage Employment or Entrepreneurship. The term ‘career’ signifies a continuous, ever evolving, ever expanding opportunity for personal as well as business growth and development. We may define entrepreneurship as a career in your own business [YOB] rather than wage employment [JOB] .If you opt for a job then you ill work for others. In case you opt for entrepreneurship you will be your own boss. In case of wage employment one is engaged in routine work carried on forRead MoreShedding Light On Freud s Controversial Psychoanalytic Theory1525 Words   |  7 PagesLight on Freud’s Controversial Psychoanalytic Theory Krystle D. Kraft St. Johns River State College: Human Growth and Development Shedding Light on Freud’s Controversial Psychoanalytic Theory Psychoanalytic theories suggest that developmental changes happen due to the power of internal drives and emotions. Sigmund Freud, a Viennese physician, is said to be the founding father of this theory. He believed biological impulses, such as a need for food and sex, were the driving impulses for personalityRead MoreScience Literacy : The Foundation Of Modern Humans1778 Words   |  8 Pagesopponents that are constricting the very foundation of what this country was built on. Lack of science literacy can be caused by several factors including the influence of religion, school curriculum, and more importantly the policies created by the government. If we want to avoid economic, social, and natural disasters, then we must change our views and policies to increase the number of science literate citizens which will advance the sciences. First, we must define what it means to be science literate

Auditing and Assurance Cloud Computing

Question: Discuss about the Auditing and Assurance for Cloud Computing. Answer: Introduction: Integrity of management is the first factor that leads towards increase in inherent risk at the financial level of report making. If the management do not possess integrity then this will move the organization towards bad reputation in the business world. Lack of integrity also shows the wrong actions of management which is carried to restrict the access of auditor in regard to material information and people. In this case study the owners of One.Tel lacks integrity of management as the auditors are going to be appointed by management which will influence the independence of auditors and the auditors will not be able to carry out the work with due diligence. In addition to this management of One.Tel will also keep a check on the financial statement preparations which increases the chance of manipulation in accounts (Purdy, 2010). Top level executives also manipulate the financial statements to attract more investments and to assure the shareholder about their profitability. Management experience and knowledge is the second factor that increases the inherent risk at the financial level. Insufficient knowledge and lack of experience can negatively affect the preparation of financial statements. Inherent risk increase with the increase of inexperienced key personnel at the management level and this will result in resignation of efficient employees from the organization. Efficient employees will leave the organization because of lack of knowledge of management and inexperienced management people are more willing towards conducting of fraud (Elder et al., 2011). In this case study both the executive and non executive directors have lack of experience in telecommunication industry which increases the inherent risk of employees turnover in the organization and the inexperienced management will negatively impact preparation of financial statements. The third factor that increases the inherent risk at the financial level is extra involvement of management of the organization. This encourages the management to falsely represent the financial statements. Due to extra involvement of management the company can face various problems like poor liquidity, poor operating results, arising of cash flow problems. The management different schemes of compensation are attached to earnings per share which can help the management to misrepresent the financial statement. In this case study of One.Tel, only few individuals dominate the organization decisions regarding operations and financing (Covello et al., 2012). This will cause a high risk of material mismanagement in decisions of organization because of lack of review in decision of management by the board committee. Managers generally do not make enough provisions provision for debts and depreciation of plant and machinery. The new organization in penetrated market generally faces the inherent risk of reputation formation and revenue generation. There are various inherent factors associated with the nature of business of the organization. The existence of the related party transactions will also lead the organization towards inherent risk (Tuncel and Alpan, 2010). In this case study One.Tel faces the inherent risk of reputation and generation of revenue because Telstra and Vodafone had already penetrated the industry. So, One Tel. has a huge inherent risk from competitors. When an organization carry out its operation in large market and geographically diverse market then the inherent risk occurs. This leads the financial statement towards complexity because of various offices at different locations. The complexity in financial statements requires the advice of expert which also works as inherent risk. Sometimes the top level management do not want to appoint the experts and make the financial statements on their own which makes the financial statements full of mistakes (Junior et al., 2014). Top level executives do not know the complexity of financial statements which are better known by experts. It is analysed that One Tel. is lagging behind the Telstra and Vodafone who are the market leader because the organization is new to the industry which is one of the inherent risk faced by the organization. Changes in economic and competitive conditions play a major impact on the inherent risk for the organization (Griffiths, 2012). In this case study Australias telecommunications infrastructure is fully digitalised having land lines phone penetrating about 96per cent of households which brings inherent risk for the organization at the financial level. The managers who are responsible for formulation of financial statements generally get the pressure from top level executives to prepare the financial statements in a shorter span of time. In this case study, the managers do not have sufficient time to formulate the financial statements so the mistakes made by them in rush of making financial statements will work as inherent risk. The pressure by top level executives to the manager to show profitability will also work as inherent risk. This will make the manager to manipulate the accounts so that more finance can be raised from market and to instigate the shareholders. The financial managers can also be told by top level executive to manipulate the accounts in order to show less profit (Merna and Al-Thani, 2011). This activity is carried out by top level management to buy the shares at lower price so that income tax can be evaded. This manipulation can also be done to deceive the competitors about the profitability of organization. Economic conditions of the organization influence the managers to manipulate the financial statements of the organization so that more profitability can be shown to investors. In this case study, financial transactions require complex calculations which arises the inherent risk of misinterpretation of financial statement. Telecommunication industry face technological advancements at a rapid speed which generally increases the risk of obsolescence of inventory and this lead the organization towards financial distress (Knechel et al., 2012). As, One Tel. is facing high financial risk so chances of misrepresentation of financial statements are also high which is a factor contributing towards inherent risk. The misstatement in the financial statement, lack of management experience and knowledge, and integrity of management are the various factors of inherent business risk that can be identified during the strategic business risk assessment. These inherent risk factors can be identified by evaluation of external environment and business risk. Identification of these factors during the evaluation of strategic business risk will help the organization to reduce impact of such factors that ultimately reduces the inherent risk of the organization (Louwers et al., 2013). If an organization conduct strategic business risk analysis then the organization will be able to reduce the inherent risk that can be face by the organization at a later stage. Factors responsible for increase in inherent risk assessment at the account balance level The first inherent risk factor that exists at the account balance level is auditor business risk. It involves auditors exposure with the damage or loss caused due to the unfair activities with the help of litigation, false publicity and practises carried out in relation to account balance level. It leads to inherent risk of avoidance of material statement in the accounts because of internal control structure of top level management of organization (Arens et al., 2010). In this case study, One Tel. faces the inherent auditor business risk because of extra involvement of top level management which can lead to hindrance of material information in the accounts. The accounts are adjusted in order to hide loss and show profitability which is one of the inherent risks present at the account balance level. Organization top management overstate the accounts so that extra finance can be raised from market from various sources. In this case study, One tel. is facing losses because of market penetration in telecommunication industry so the organization faces the inherent risk of manipulation in accounts to falsely represent the profitability of the company (Hayes et al., 2014). It is always very hard to find out the accounts in which manipulation has done. One of the inherent risk factor present at the time of account balance level is occurrence of error at the time of recording of items in the account receivable segment. This is done to show the generation of revenue to the organization. One Tel. also faces the same inherent risk of making fraud at the time of inserting of items in account receivable segment of current assets in balance sheets (Alali and Yeh, 2012). As, the company is new to the industry and is not stable so in order to show false generation of revenue, the inherent risk at account balance level increases with the fraud in accounts receivable. Significant overdue of extensive number of accounts receivables is another inherent risk factor which is present at the account balance level. In this case study, One Tel. is also facing the inherent risk of overdue of maximum number of accounts receivables. This inherent risk occurs to One Tel because of the involvement of top level management in the formulation of financial statements as all the executive and non executive directors have mutual benefit derived from the profitability of the company (Florea and Florea, 2012). Inventory pricing errors is another inherent risk factor which is present at the account balance level. In this case study, One Tel. is also facing the inherent risk of inherent risk of inventory pricing errors. This inherent risk occurs to One Tel because of the huge losses incurred by the company. The reason behind losses is the market penetration by the leaders. In this case study, alteration in processing of transactions increases the inherent risk as the transactions are not processed in conventional manner. The reason behind increase in inherent risk is the ineffectiveness of the new processing system and the incapability of the managers to understand the working of system (Griffiths, 2012). It becomes very difficult to find out the high valued goods and goods having no worth in the organization. This increases the level of inherent risk if proper accounts of sales and purchases are not prepared as the organization will not be able to identify profits at stock taking level on regular intervals. The account item which is flat to inherent risk is cash (Bratten et al., 2013). In this case study, One Tel. is also facing the problem of management of sales and purchases accounts which leads the organization towards inherent risk. Assessment of going concern on the basis of high, medium or low and the factors affecting the decision Going concern states that an organization will continue its business activities and operations in future and has no motive to shut down the business operations. The assets of the company are generally valued on the market price in comparison to the value of asset at the time of liquidation. The factor of going concern can be assessed as low, high or medium (Knechel et al., 2012). This assessment can be done on the basis of operating and financial indicators of the organization through which the going concern concept of the organization can become identifiable. Operating Indicators indicates the harm to important accounting standards of management without alteration and decrease in large number of dealers will help to analyse the concept of going concern for the organization. If the organization does not follow the legal considerations laid down then it also affect the concept of going concern. Marketing strategies used by the organization in comparison to competitors also helps in determining going concern concept of the organization (Vona, 2012). Organization adaptation to new technology will also determine the basis of going concern. Financial Indicators shows the level to which both current and noncurrent liabilities exceed the total assets and it also indicates the deficit of current assets when compared to current liabilities. The level of borrowings and the repayment capacity of the organization will help to analyse the assessment of going concern. If there are huge borrowings and company is not able to pay debts then the rate of going concern concept is low. The company effectiveness in repayment of debt and payment of dividend will also assess the going concern concept (Merna and Al-Thani, 2011). Financial strength of the company will also identify the level of going concern concept in the organization. References: Alali, F.A. and Yeh, C.L. (2012) Cloud computing: Overview and risk analysis.Journal of Information Systems,26(2), pp.13-33. Arens, A., Best, P., Shailer, G., Fiedler, B., Elder, R., Beasley, M. (2010) Auditing, assurance services and ethics in Australia: an integrated approach. Pearson Education Australia. Bratten, B., Gaynor, L.M., McDaniel, L., Montague, N.R. and Sierra, G.E. (2013) The audit of fair values and other estimates: The effects of underlying environmental, task, and auditor-specific factors.Auditing: A Journal of Practice Theory,32(sp1), pp.7-44. Covello, V. T., Flamm, W. G., Rodricks, J. V., Tardiff, R. G. (Eds.). (2012) The analysis of actual versus perceived risks(Vol. 1). Germany: Springer Science Business Media. Elder, R. J., Beasley, M. S., Arens, A. A. (2011)Auditing and Assurance services. UK: Pearson Higher Ed. Florea, R. and Florea, R. (2012) The Implications of Inherent Risks' Assessment in Audit Risk Limitation.Economy Transdisciplinarity Cognition,15(1), p.45. Griffiths, M. P. (2012)Risk-based auditing. UK: Gower Publishing, Ltd. Hayes, R., Wallage, P., Gortemaker, H. (2014)Principles of auditing: an introduction to international standards on auditing. UK: Pearson Higher Ed. Junior, R.M., Best, P.J. and Cotter, J. (2014) Sustainability reporting and assurance: a historical analysis on a world-wide phenomenon.Journal of Business Ethics,120(1), pp.1-11. Knechel, W.R., Krishnan, G.V., Pevzner, M., Shefchik, L.B. and Velury, U.K. (2012) Audit quality: Insights from the academic literature.Auditing: A Journal of Practice Theory,32(sp1), pp.385-421. Louwers, T. J., Ramsay, R. J., Sinason, D. H., Strawser, J. R., Thibodeau, J. C. (2013)Auditing and assurance services. USA: McGraw-Hill. Purdy, G. (2010) ISO 31000: 2009setting a new standard for risk management.Risk analysis,30(6), pp.881-886. Tuncel, G. and Alpan, G. (2010) Risk assessment and management for supply chain networks: A case study.Computers in industry,61(3), pp.250-259. Vona, L. W. (2012)Fraud risk assessment: Building a fraud audit program. USA: John Wiley Sons.

The Canterbury Tales Gender Essay Research free essay sample

The Canterbury Tales Gender Essay, Research Paper Most of the Canterbury narratives emphasize work forces and adult females and the functions that they play. Specifically in matrimony, Geoffrey Chaucer has etched out a tradition of literary glare. He has taken it upon himself to change by reversal functions and give adult females favor over the work forces. In this manner, Chaucer is considered as a innovator. In several of his narratives adult females are aggressive, froward, and powerful. Some of Chaucer s male characters are against tradition excessively. Work force in the Chaucer s narratives are inactive, na ve, and weak. Not all the work forces in the narratives are as I merely described, but plenty of them are in order to do a literary impact. Two first-class illustrations of Chaucer s reversed functions appear in two first-class narratives, The Wife Of Bath s Tale and The Miller s Tale. In these narratives we see work forces who must work out conundrums, work forces who sleep in baths above houses, and work forces who get what they deserve. We will write a custom essay sample on The Canterbury Tales Gender Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many writers are influenced by this new manner of exposing male and female functions. We can see the impact of Chaucer s work in other texts where female characters are liberated and influential. In the fresh Jane Eyre by Charlotte Bronte, we see another illustration of a adult female who is aggressive and froward. We even see a adult male who is reliant and inactive. Before we take a expression at Bronte s female character, we need to return back to Chaucer. In The Wife Of Bath s Tale the first female character introduced in really controversial. The married woman of bath is a adult female who has been married five times. She expresses this openly without any shame. It is about like she is proud of it. My Lords, since when I was but twelve old ages old, / Five hubbies have I had at the church door ; ( Chaucer 258 ) . A adult female of that clip was normally looked down upon if she were a widow. Men assisted widows in clip of demand, but they would neer see get marrieding them. The fact entirely that she has had five hubbies liberates her from adult females of her clip. Then she goes on to state that she will take on a 6th hubby when he comes along. Blessed be God that I have wedded five! / Welcome the 6th, whenever he appears ( 259 ) . The married woman of bath is a adult female who knows what she wants. She does non necessitate a adult male to order her feelings for her. So, in her narrative we see similar adult females and work forces who depend upon them. Shortly into the narrative we read about a colza. One twenty-four hours as he came siting from the river He saw a inaugural walking all forlorn Ahead of him, entirely as she was born. And of that maiden, malice of all she said, By really force he took her hymen. ( 282 ) Although the incident occurs when a adult male violates a adult female, the act besides puts the adult male at the clemency of adult females for the remainder of the narrative. It is besides of import to see that the knight is weak for what he has done. Work force in this tale show failing by leting their flesh to command them. When the knight raped the maiden, he did merely that. After the knight was condemned to decease by the male monarch for his offense, the queen takes commiseration on him and decides to save his life. But that queen, and other ladies excessively, / Implored the male monarch to exert his grace ( 282 ) . Not merely does the queen want to save his life but other adult females do excessively. This implies that the knight will ever be at the clemency of adult females. Then, as if to stress the knight s dependence, the queen tells him that he must work out her conundrum in order to populate. The queen asks, What is the thing that adult females most want? If the knight is unable to reply the conundrum in year and a twenty-four hours, so he will free his caput. It is meaningful that the conundrum centres on the will of adult females. In work outing this conundrum, the knight spends a twelvemonth of his life in a inactive province searching for the desires of adult females. On the same note, the adult females are dominant as they fill his ears wi th things they want the most. The knight becomes even more dependent upon adult females, as he gets more despairing to work out the conundrum. On the last twenty-four hours of his quest to reply the inquiry, the knight comes across an old adult female in the border of the forests. She tells him that she will interchange the solution to the conundrum for his manus in matrimony. Give me your manus, she said, and swear to do/ Whatever I shall following require of you/ And you shall cognize the reply before dark ( 285 ) . Desperate for his life, the knight agrees. The old adult female is described as a hag or a enchantress. This indicates the ugliness of the adult female, who is a far call from the lovely maiden that the knight raped at the beginning of the narrative. The knight is in an inferior province at this point in the narrative. He and the hag travel back to the queen and give the reply to the inquiry, but even after his life is spared he is still at the clemency of adult females. The knight gets what he deserves by holding to get married the old adult female. Already he has been demeaned by holding to seek out the desires of adult females, and now he must wave to the will of a hag. I say there was no joy or banquet at all, Nothing but weightiness of bosom and sorrow. He married her in private on the morrow And all twenty-four hours long stayed hidden like an bird of Minerva, It was such anguish that his married woman looked disgusting. ( 287 ) The narrative besides goes on to depict how much the knight hated being in bed with her. Now, because of his act of colza, he has gone fro m moving on the will of a queen to moving on the will of an ugly enchantress. Up until the terminal of this narrative we see how adult females govern the knight s life. At the terminal after the knight continues to kick about her ugliness, the hag decides to delight him. She makes herself beautiful and the two live merrily of all time after. So, it is merely by the act of this ugly adult female that the knight is able to recover felicity. The functions of work forces and adult females in this narrative are clearly reversed. In another one of Chaucer s narratives we find reversed functions of work forces and adult females. In The Miller s Tale there is representation of aggressive adult females and lovesick na ve work forces. In this narrative the premiss centres on a adult female who has work forces traveling in circles for her. At the beginning of the narrative we learn about a immature married woman who is merely 18 old ages old. Alison is described as wild because of her age. Her hubby John is an older adult male who tries his best to maintain her caged. She was a miss of 18 old ages of age./ Jealous he was and kept her in the coop ( 89 ) . Already we know that John is impotently in love with his married woman. We besides learn of a adult male named Nicholas who moves onto John s belongings. He is a immature pupil who is sly and eager. This chap was known as Nicholas the Gallant, And doing love in secret was his endowment, For he was really close and sly, and took Advantage of his meek and girlish expression. ( 89 ) John is willing to flim-flam John in order to be with Alison. He desires her that much. He lay awake all dark, and all twenty-four hours, / Sent her sweet vino and Mead and spicy ale ( 94 ) . John wants to win Alison s bosom. He even sings to her at her window. John loves Alison, but it is her and her hubby John who display actions that are out of character for a their gender. To get down, Alison appears to be a just and immature adult female but she is truly underhand and fickle. When Nicholas makes a base on balls at her she acts as if she is offended. No, I won t kiss you! Stop it! Let me go/ Or I shall shout! I ll allow the neighbours know! ( 91 ) . Then, a few lines subsequently the narrator lets us cognize that she agrees to flim-flaming her hubby. And so they both agreed to it, and swore/ to watch their opportunity, as I have said before ( 91 ) . Alison is an aggressive adult female who knows what she wants. She so would kip with Nicholas all dark, / For such was his desire and hers every bit good ( 94 ) . Alison knows that she wants to be with John every bit much as he wants to be with her. In the narrative it is okay for a adult female to be sexually confident and aggressive in what she wants. So, in the same manner that Chaucer has liberated adult females through their functions in his narratives, he besides allows work forces to move outside of their functions excessively. In peculiar, John is na ve and easy to gull. Even though he is an old adult male he seems to be the dumbest out of the three characters. When John and Alison decide to flim-flam him, he falls for it hook, line, and doughnut. He already suspects that his married woman and Nicholas are in love, yet when Nicholas comes to him and tells him about the inundation he believes him. John even degrades himself by inquiring, Alas, my married woman! / My small Alison! Is she to submerge? ( 97 ) . John asks about the same adult female who is flim-flaming him in order to obtain pleasance behind his dorsum. When John asks Nicholas what he should make, Nicholas tells him to put a bath on the roof of his house and sit in it. After having his instructions, Nicholas is described by the narrator as, This silly carpenter so went his way/ Mumbling to himself, Alas the twenty-four hours! ( 99 ) . John looks even dumber when he falls asleep in the bath, leting Nicholas and Alison to mount from their baths s o that they can do love. Another illustration of John s na ve nature is shown when Alison tricks him into snoging her buttocks. Put up his oral cavity and kissed her bare arse/ Most savorously before he knew of this ( 103 ) . Not merely are Alison and Nicholas doing an buttocks of John by kiping together behind his dorsum, they are literally turning him into one by doing him kiss theirs. From this narrative we see how one adult female drives the work forces, and how one adult male is impotently naively in love with her. Even more we see how a adult female is volatile, underhand, and aggressive. She is non an obedient homemaker. These reversed functions are what influenced writers to come. As a merchandise of these narratives adult female were given more self-reliance in literature. In the fresh Jane Eyre by Charlotte Bronte we see another liberated female character. Jane is an orphaned miss who is left in the attention of her Aunt. Throughout her full life Jane felt a kind of self-dependence and a desire to research the universe. She is independent and she stands up to work forces. By leting his male and female characters to move outside of their normal functions, Chaucer has liberated adult females through literature. He about seems to prefer adult females and the influence that they have over work forces. Maribel Aguilar Eng Prof. Gilles December 8, 2000 Work Cited Page Bronte, Charlotte. Jane Eyre. London: Signet Classicss, 1997. Chaucer, Geoffrey. The Canterbury Tales. Trans. Nevill Coghill. New York: Penguin Books, 1951.

LinkedIns Top Skills The Best Hard Soft Skills (and Jobs!) for 2018

LinkedIns Top Skills The Best Hard Soft Skills (and Jobs!) for 2018 Want to know the top skills for the 2018 job market and whether youre a match? Look no further than LinkedIns top skills list for 2018. No brainer: Computer stuff tops the chart for the third straight year with Cloud and Distributed Computing and  Statistical Analysis and Data Mining, in the #1 and #2 hottest hard skills, respectively. If youre a computer nerd, youre in luck. I found out something interesting today while talking to a fellow career coach, Ramon Santillan, Jr. He specializes in helping people on the autism and Aspergers scales, who have high levels of intelligence, get jobs at big tech and engineering firms. The skills in demand in the market might match well to some of their capabilities. Whats new on the 2018 top skills list is that LinkedIn has expanded into soft skills. Topping that list are Leadership and Communication, which for good reason are the personal attributes most in demand by employers today. One of my favorite places to increase both of those skills is the Wright Foundation for the Realization of Human Potential. Let me know if you want information about their trainings in leadership and social and emotional intelligence. LinkedIns List of Top Skills for 2018 Soft Skills Leadership: You may have heard that youre always leading. Its just a matter of toward what. Companies are looking for leaders who support and motivate the people around them, delegate vs. micromanage, assert themselves appropriately, and take swift action, all in service of organizational goals. Communication: Good communication includes such important skills as good use of language both in speech and in writing, speaking up when something needs to be discussed, following direction, asking the appropriate level of questions, following proper communication procedures, and more. Collaboration: Working with a team and having good give and take makes you a valued employee. Time Management: Meeting deadlines, being realistic about workload, and being able to prioritize projects are all essential to being a great team member. And so is communicating when things dont go as expected. Hard Skills I have less to say about the hard skills. They are all technology based and of tremendous importance for companies today, for obvious reasons. Heres a breakdown of whats hot and whats a little less hot as we head into 2018. Cloud and Distributed Computing: This skill has been #1 since it made its debut on the top 20 list in 2016. Statistical Analysis and Data Mining: Bumped out of the #1 spot when Cloud and Distributed Computing showed up, this skill has been holding at #2 for three years straight. Middleware and Integration Software: Has remained in the top 5 since 2015. Web Architecture and Development Framework: Steadily rising, but down one from the #3 spot this year. User Interface Design: This skill started at #14 in 2015, moved up to #10 in 2016, and remains at #5 for 2017 and 2018. Software Revision Control System: Welcome to the top 10! Data Presentation: In the top 10 for the last two years, this skill is up one from #8 to #7. SEO/SEM Marketing: Maybe people are losing faith in SEO, or figuring out how to do it themselves. This skill has dropped from the #4 and #5 spots it held in previous years. Mobile Development: Here I was thinking companies still needed people to develop apps. But mobile development has dropped steadily for the last three years, from #6 to #7 to #9 could this be the last year for this skill? Network and Information Security: Similar to Mobile Development, this one has been flirting with the #6 and higher spot for 3 years, but dropped this year. I cant believe there wont be a continuing strong need for this skill. LinkedIns List of Best Jobs for 2018 Want to know what jobs some of these hard and soft skills will get you? The list compiled by LinkedIn below includes positions with high median salaries, strong job openings, and year-over-year growth. The jobs are also projected to be most likely to lead to advancement within an organization. Engagement Lead Software Engineering Manager Customer Success Manager Solutions Architect Sales Director Engineering Manager Program Manager Product Manager Data Scientist Enterprise Account Manager Technical Program Manager Financial Analyst Data Engineer Frontend Engineer Site Reliability Engineer Finance Director Strategic Account Manager Pharmacist Hospitalist Medical Director For detail on each position, including median salary, career advancement rating, and the top skills for each, read LinkedIns Most Promising Jobs 2018. How do your hard skills and soft skills line up with the in-demand skills for 2018? If the hard skills diverge from yours, not to worry. There are plenty of jobs that dont require you do have computer skills beyond MS Office Suite. But the soft skills are important no matter what you do. If you know you could use substantial improvement in those areas, it might be time to take steps toward educating yourself! To view LinkedIns Top skills lists from previous years: The 25 Skills That Can Get You Hired in 2016 LinkedIn Unveils The Top Skills That Can Get You Hired In 2017 Is your LinkedIn profile getting views from hiring managers for the job youre seeking? If not, its time to get your LinkedIn profile in shape and make 2018 the year you stepped up your career.  Start with a  20-minute live review of your LinkedIn profile. If you decide to work with The Essay Expert via one of our more extensive LinkedIn profile writing services, well credit the price of your review!

JUST GETTING STARTED

JUST GETTING STARTED Put down that pen! Dont you even think about starting off your writing career with a book. Why? Because you havent become a writer yet. In all my conference classes, the first thing I tell people is this . . . BECOME A WRITER FIRST. A lot of people skip that part of the career the educational process, the word order, the flow, the friggin VOICE that so many people ignore. Thats why so much writing just muddies together. One big mass of earthworms, tangled together in a Kindle world. Just finished reading a short book about a ghost in Savannah. The writer has great potential. Shes even educated. Some comment she made on a blog made me buy the book. (Let THAT be another lesson for you.) However, she head hopped. She switched characters, disassociating pronouns. She skipped descriptions. It was so obvious that the material was in her head, but somewhere between her gray matter and her fingers, it got waylaid. So now, I associate her name with less-than-stellar writing. Premature writing is like a bad marriage. Its always in the background. Always a reminder. Sure, after enough years its remembered less, but seriously . . . do you want to wait years for a bad piece of work to fade away? Magazines. Start with magazines. No matter what you write, there are magazines you can write for. Yes, youll be rejected, as you should. Yes, youll get frustrating coming up with unique ideas, as you should. But magazine writing is the jumping off point for all writers, in my opinion. That and/or newspapers. No, Im not belittling either profession, but your opportunities are more and you learn lessons faster when you have to meet deadlines, or have to eat from the articles you sell. Romance, mystery, sci-fi, nonfiction, all exist. But write about anything . . . everything. Test yourself. If you think you have the guts, um, prowess, to write anything book-length, then magazine articles should not be daunting. Reasons to start with magazine writing: You learn how to carefully choose your words in a small space. (i.e., writing tight) YOu learn how to adhere to an editors needs. You learn how to write faster. You learn how to research, and cull that research since youll never need it all. You earn money, always a good thing. You earn clips, which actually show that . . . you are a writer. Tough love time. If an editor sees your

Hills like White Elephants Essay Example | Topics and Well Written Essays - 500 words

Hills like White Elephants - Essay Example It is evidently clear from the discussion that most common aspect of Ernest Hemingway’s writings is extraordinary complexity. He presented the themes in a very complex manner, for instance, we can notice the underlying story â€Å"Hills like White Elephants†. In the story, several themes are used such as stressful romance, undesired pregnancy, communication collapse between the couple that further became a cause of the pregnancy abortion (tragedy) and symbolism (hills, elephants etc.). Hemingway utilized numerous literary devices to communicate the themes of the story but here I am going to analyze three out of those: imagery, dialogue and narrative style used in the story. The simplest form of imagery used in the underlying story. Simplicity is reported because Hemingway did not use the complete form of imagery to elaborate the stylistic themes of the story; rather he drew the beauty by incomplete imagery. Hemingway illustrated that unsaid is more influential compared to what is expressed especially in the fiction writing. The writer has described that the hills were white but he did not express the reason for this color: whether the hills are white because of winter season snow or the rocks were naturally white? He left the imagination over the readers accordingly. This implies to the implicit complexity in the story. In the same way, it can be derived that hills are denoted as the curved in a woman that is., breasts and swelled belly of the woman because of pregnancy.

Peer Evaluations of Presentation Essay Example | Topics and Well Written Essays - 250 words

Peer Evaluations of Presentation - Essay Example [Ibid.] Though it has created a negative impact on the teachers and school administrators, such impact has somehow helped in substantiating the point being highlighted in the presentation: the concept of duty (i.e. the duty of the teachers and school administrators to maintain the safety of their students). From the presentation, we find: â€Å"These teachers definitely had an obligation to help protect all of the students in the school† and â€Å"In the situation with Phoebe Prince, it is sad to see that the very people and institution that teach us right from wrong, encourage us to speak up for our safety and the safety of others, failed to protect this taunted teen.† Such statements, though negatively presented, further clarified the thesis statement: Teachers and school administrators have a duty to maintain the safety of their students. On one hand, another highlight in the presentation was the testimony â€Å"I even took an ethics and law class in college specifically for teachers. We were made well aware that it was our duty to report bullying and to deal with it in an appropriate manner.† More affirmative, this statement gives a balance, as it were, to further justify the thesis

Top 10 Interveiw Question and Answer Essay Example for Free

Top 10 Interveiw Question and Answer Essay Introduce yourself Before I start, I’d like to thank you for give me this opportunity by conducting this interview. My name is Jing Shen, and you can call me Jane, I am from Dailian, I was studying and working in Ireland for last 9 years, I got my Bachelors degree in Accounting and Finance at 2008 from Dublin Business school, and just before that, I got a certificate of Business English issued by higher education and training awards council Ireland. During my study, I also held various part-time jobs, for these jobs, I learned many valuable qualities, e. g. my first job was in a small coffee shop which had only 3 staff, from this job, I learned how to work in a very busy environment both effectively and efficiently. At 2008, I found a job in shell petrol station as a cash counter, from this job, I learned the ability of prudence by conducting daily stock check and cash counting. 2. What is your least likely subject in school and why? I do not have a particularly subject that I don’t like during my study, however, these were few subjects that I had less interest than other, in these cases, I would spend more time on these less interested subject, and over time, these subjects often became more and more interesting to me during the study, on the other hand, for these subjects that I preferred, I naturally would study with pleasure, that why my overall result for every subject was quite balanced. 3. Greatest advantage I think my greatest advantage is taking job/task seriously and have the quality of prudence which probably results from my study of accounting. I am a good team player, I like co-ordinate with others and quite open to take advice/different opinions from others. I enjoy working under pressure and enjoy taking challenges. As result of various part time jobs I have during these years, I am also a very good adaptor, I can learn new suffers in a very short time and transfer them to useful working knowledge. However, sometimes, I perhaps too persevere with a task to take easy for a while; this is probably also result from my study of accounting. 4. Do you think yourself as a good student? In my point of view, to determinate whether a person is a good student should be based on various aspects, rather than exam result alone. I have fairly well exam result, and also quite good personal development in other aspects, for example, I have very good ethical standard, quite diversified working experiences, the spirit of teamwork and excellent communication skills, therefore I think, yes, I am a good student. . Taking about your family I love my family very much, I was raised in a working class family, both of my parents are ordinary factory workers, although there was nothing special of their day to day work, they still love their jobs very much. My father takes his job very seriously and often working very later without any grumbles. My mother is a great person, she is very kind and warm to any one, and happy to help other when they needed, therefore everybody loves her in her factory, by watch them, I learned the ability to working hand, take responsibility in jobs and becomes a honest person. . What is your expectation of the industry and its technology development? 7. For the position that you apply for, what do you think you short of? I think I can handle this position very well, however, I do understand I might be lack of experience for this particular job, I think that I can solve this problem very quickly if I get this job, I am a fast learner, I believe I can quickly integrate into company’s corporate culture and get into a solid working state in a short time. . What kind of salary do you expected? I believe I have the competence and ability to doing this job well, however, as you do not give a very detail description of this job, I think we can talk this question further later. 9. What can you bring to the company? I believe receptionist is a very important position for any company, it can add value to your company in at least 3 areas. Firstly, receptionist is often the first person that clients will meet, I promise I will give them a confident and professional image about our company, if I got this job, I will try to obtain as much knowledge as possible of our products, so I can give client first hand information if they ask. Secondly, I take work quite seriously, and I have quite good memory, therefore, I can give clients better service by memorize their question and requirement, and find most suitable way to dealing these issues. Finally, I can work as a co-coordinator among clients, management and staffs, I also able to give accurate and timely information to any departments when they need it. 10. Do you have any other question? Would you provide any training or development programme for your employees? Could I participating such programme? What are the promotion criteria or development route for your company? 10. What are the most difficult and most successful things during your life so far? For me, the most difficult and successful experience is actual the same thing which is studying in a foreign country. I was only 21 years old when I went to Ireland, before that, I was never away from my parents, at that time, my English is very poor and I did have any marketable skill, I did not know what is my future like, finding a job, learning the English, everything is hard to me at first and I had no one to support me. However, I didn’t give up of myself, by working hard and with my own efforts I overcome these difficulties. In the 9 years which I studied in Ireland , I finished my degree and accomplished 9 of 14 subjects of ACCA exams, and I can proud to say, I earned every penny of the tuition and living fees during my overseas study.

Essay --

In my opinion I ranked the seven social sciences according to what I believed it was important and has the most influence on the people in a modern society. My first ranked for the seven social sciences is Psychology then Sociology, Political science, History, Economics, Anthropology and last Geography. Geography is the study of the physical features of the earth and its atmosphere, and of human activity as it affects and is affected by it, including the distribution of populations and resources, land use, and industries. Environmental influences, such as cost, changing weather, climate patterns, their potential impacts, and the threat of spreading diseases, are of increasing concern. Geography allows us to participate and enjoy our planet. It gives us a sense of reference to where we live and where we may be going in relationship to where we have been, and the appreciation of the world we live in. Anthropology is the study of human kind and culture, everybody wants to know where and how humans came to be. Our daily lives such as family, friends, co-workers and the under...

Marketing Plan for Book Publisher Essay

‘Knowledge Hub’Publishers is a provider of latest academic and research material, the best literary material in Urdu and English by quality writers both local and international. Our customers rest assured that when they purchase a publication of Knowledge Hub they receive the optimum value for their money or as we call it ‘your money well spent’. Our publications are free of plagiarism and we endeavor to stay a step ahead in providing academic material which is the most recently proven by researchers instead of re-publishing the same material in a different manner. We are a sole proprietorship and our office is located at Urdu Bazar, Lahore. Being a startup in an industry already being served by a huge number of brands, we shall initially target the Lahore market with intent to move into other cities throughout Punjab within 5 years time. Our focus shall remain to continually research and analyze customer needs, wants, reading trends and preferences to ensure that we provide only the most needed and sought after books with the latest content. Knowledge Hub shall provide its client authors with editing, proofreading, layout and design, promotion and authentication services. Whereas, we shall be outsourcing the printing and distribution of our books. Our long term focus is to motivate the culture of e-books and printing on demand in order to safeguard our natural resources for our future generations. Print on demand (POD) is a printing technology and business process in which new copies of a book (or other document) are not printed until an order has been received, which means books can be printed one at a time. Rationale of this Product: Books are priceless source of knowledge, wisdom and education the best company in times if solitude. Our affiliation with books and knowledge is further promoted by our religion which encourages us to gain knowledge and preaches us to respect books. In today’s fast paced world, where information and knowledge is continually increasing and modifying, the need for books containing the latest of information are always required. As soon as a book or article is publishes a chain of evaluation, testing and research on the published material starts which eventually leads to modified material ready to be published and the cycle continues. This causes a never ending need for high quality books available at easy to access touch points and at affordable prices. And this is exactly what we offer our customers as our product. Strategic Focus and Plan Mission: Knowledge Hub is the premium publisher of academic and illustrated books, novels, best sellers and e-books in Pakistan. We at Knowledge Hub believe that knowledge is a service to be provided to our nation so that we may progress in this fast paced world. The purpose of our affordable and easy to access products is to ensure availability of knowledge to all Pakistanis who seek for it. Goals: Non Financial Goals: Knowledge Hub seeks ensure availability of knowledge to all Pakistanis who seek for it. We at Knowledge Hub believe in a cleaner, safer tomorrow and in a ‘Paper Free World’ in which our natural resources are savored for our future generations to enjoy. Knowledge Hub’s comprehensive website holds the key to a better tomorrow. Our online e-books, research articles, audio and visual resources provide you easy and instant access along with it being environmentally beneficial. Financial Goals: We have targeted to publish 70 books by authors within a year’s time. Moreover, to a customer base of at least 200,000 readers at the end of year one which is approximately 10 percent Market Analysis: International Book Publishing Market: The worldwide book industry has been forecast to exceed revenue of $90 billion. The industry recorded yearly growth of 1% over the past four preceding years, and is expected to accelerate to a yearly rate of almost 4% between 2011 and 2016. Sales by music, video,books and stationery retailers represented the leading segment of the global book market in 2011, generating more than $50 billion and representing 56% of the overall market. Pakistan Book Publishing Market: Book publication is a business very closely related to the literary scenario since books are nothing if they don’t get a publisher or a printer. Like every other thing in Pakistan,the printing industry is with its own sets of problems the initial ones being the unfavorable socio-economic conditions, lack of mass education and the development of local languages. Constraints: Low Literacy Rate: The publishing industry in Pakistan is hampered both by a low literacy rate (48%) and the fact that the national language, Urdu, is written in the right-to-left Arabic script unlike the official language, English, which is written left-to-right. Pakistan has had its share of poetry and prose writers in Urdu, English and other regional languages. Incentives for Writers: Those who don’t reproduce work and are genuinely interested are hardly encouraged. The government, the NGOs and the intellectuals hardly ever take the initiative to encourage young and budding  writers of the country. These results in most of the young authors getting their works published under foreign publishers. At least they get the recognition they warrant in foreign waters. Yet, there are a few committed souls who work tirelessly to make a place for themselves in the literature-deprived country. Market Growth: The publishing industry has been steadily growing despite the many hurdles like the low purchasing power of the masses and the lack of facilities. The principle centers of publishing are Karachi, Lahore and Peshawar. Lahore stands out with its numerous publishing houses and has been the hub of the industry from the pre-independence era. Even now, getting a book published from Lahore is much easier than elsewhere. Pakistan’s publishing industry has a lucrative market for Urdu and religious books abroad. A considerable number of books and periodicals are exported to countries like Malaysia, East Africa and the Middle East. Also, a very large number of books is imported in Pakistan mainly from UK and USA. The Inter-Media Growth program of Pakistan and USA have signed an agreement whereby Pakistan can import books and still pay for them in its local currency. Market needs: In the Pakistan scenario, there is need for up-to-date information available at affordable prices and easily accessible via easy to access retail outlets and via e-books. Trends: The following trends are emerging in the publishing industry: E-books Online book stores Reading clubs Book fairs Mobile bookshops Print on Demand These trends are discussed in detail in the ‘Opportunities’section. Customers Analysis: Following is a detailed description of Knowledge Hub’s client authors, intermediate customers and ultimate customers: Client Authors: Our client authors shall include all local authors who have quality material to offer and who fall within in our product range. Intermediate Customer: Our Intermediate or trade customers include: Wholesaler Book Stores Ultimate Customer: Out ultimate customers include: 25534400 school/ college going children in Pakistan 1,349,000 university going individuals in Pakistan 57. 7 % of our adult population which is literate in Pakistan Needs of the Target Customers: Knowledge Hub endeavors to cater to these basic needs of the target consumers: Academic needs Literary/ information needs Entertainment needs Consumer Touch Points: Our target consumer shall purchase our product via the following channels: Book Stores: Knowledge Hub shall have its products available at book stores including academic and literary book stores book shops in schools, colleges and universities. Gift Shops: Our books shall also be made available on gift shops. Libraries: One of the major sources of contact with the target market are libraries. We shall endeavor to establish relations with the local libraries to allow the usage of our products there. Website: Our comprehensive website will also serve as a major source of interaction with our customers. Our website will display our catalogue of books and shall provide the viewers with an option to get access to our products in the form of both paper editions and electronic versions on-line. Customers would be able to be directed to bookstores for the paper version and they may send an order directly to us. They would also be able to unlock and access an on-line edition instantly by making an online payment. Our website viewers would also be able to opt to receive periodic catalogs of our products online via e-mail. Customer Value Proposition: Like they say â€Å"A book is man’s best friend†, Knowledge Hub shall serve to provide its target consumers with books that serve as their best friends in all their walks of life. Knowledge Hub is a provider of latest academic and research material, the best literary material in Urdu and English by quality writers both local and international. Our customers rest assured that when they purchase a publication of Knowledge Hub they receive the optimum value for their money or as we call it ‘your money well spent’. Our publications are free of plagiarism and we endeavor to stay a step ahead in providing academic material which is the most recently proven by researchers instead of re-publishing the same material in a different manner. Knowledge Hub believes in a cleaner, safer tomorrow. We believe in a ‘Paper Free World’ in which our natural resources are savored for our future generations to enjoy. Knowledge Hub’s comprehensive website holds the key to a better tomorrow. Our online e-books, research articles, audio and visual resources provide you easy and instant access along with it being environmentally beneficial. Constraint: The long term vision of Knowledge Hub is to provide all of its resources online so that the environment and our natural resources can be saved. However, due to low levels of computer literacy in Pakistan, this is not possible immediately and shall take efforts from our end to promote education and reading so that our country can move forward past its literacy barriers. Competitor Analysis: Our competitors include: Local Competitors: Sang-e-Meel Publications Ferozsons Awesome Publishers Association for Academic Quality AFAQ Fact Publications Idara-e-Islamiat Kiran Publications Azeem Academy Publishers & Book Sellers Hassan Publishers 2 The Point Publishers 7th Sky Publications A to Z Publishers A-One Publishers Adara Talifat Khatm-e-Naboat Adara-Ul-Tahreer Adara-e Saadad Advanced Publishers A. H. Publishers Affaf Publishers Al Raza Publishers Al Quraish Publications Al Mashriq Publishers A. S. Publishers Adabistan Publishers Adan Publications A. N. Publishers Al-Asad Publications Al-Badar Publications Al-Bilal Publishing House Al-Hamd Publications Al-Madina Publications Al-Mezaan Publishers & Book Sellers National Competitors: Iqbal Sons Educational Publishers – Karachi, Pakistan New Century Education – Karachi, Pakistan Baitul Qalam – Karachi, Pakistan Electronic Journals of Academic Research and Reviews(EJARR Publishing) – Islamabad, Pakistan Library Promotion Bureau – Karachi, Pakistan World Trade Publishers – Karachi, Pakistan U. S. Publishers (pvt) Ltd. – Karachi, Pakistan Children Publications – Karachi, Pakistan Jumbo Publishing – Karachi, Pakistan 3KBioXML Publishers Pakistan – Haripur,Pakistan Strengths of Competitors: Our competitors have the following strengths: Well established brand names. Extensive market experience. Widely available and accepted products. Strong relations with distributors. Huge chains of retail outlets. Weaknesses of Competitors: Our competitors have the following weaknesses: Most of them are obtaining very high profit margins. They provide less incentive for local authors. Re-publishing of material similar to the one already in the market. Low on-line presence. Most of them do not have their own websites. Well established chain throughout Pakistan. Some competitors are also exporting books. Mahwish: SWOT Analysis: Strengths: Well established relations with authors,editors and media personnel Comprehensive website Up-to-date content of book Our mission is in itself a strength Weaknesses: New brand name thus requiring massive promotion Yet to establish credibility with the target customers Initial focus which is only on the Punjab market Opportunities: The emerging trends are opportunities which Knowledge Hub seeks to take advantage of: Time and Technological Advancements: Time and technological advancements play a pivotal role in shaping the trends over the passage of time. As Pakistan is also entering the digital age, traditional distinctions in media become blurred. It can be seen as furthering the book culture. E-books: The biggest contribution of the internet in the book industry would be to digitize books and grant them a wider readership. A number of online websites have sprung up in the last few decades. Quite a lot of these sites are free and others charge a very nominal fee and provide unlimited access to e-books. They can either be downloaded or read on screen. These obviously have become popular because of easy accessibility and the low cost. In Pakistan,a huge majority of people cannot afford the expensive original foreign titles. Hence,these customers can download the electronic versions at much cheapers rates. Some Urdu websites have started to offer online versions of books for foreign readers. This helps in promoting one’s culture as well as to help the expatriate Pakistanis and is a viable opportunity that Knowledge Hub can take advantage of. Online Book Stores: Closely related to e-books are the online book stores, another wonder of the internet and an opportunity for Knowledge Hub. An extension of the traditional book stores, online book stores give the option to search and read reviews of books, browse through categories, view the covers, author information, reader ratings and then order these books online. Although they are not free and even charge a shipping fee, it’s very convenient to search and order books online saving the hassle. Reading Clubs: Reading clubs are a breath of fresh air into the dying book culture. There are a number of book clubs/reading clubs online and offline. People sit and discuss their favorite books or simply talk about what they are reading these days. Readers’ Club is an exemplary example is of a â€Å"Readers’club† at the University of Karachi, which is moderated by a teacher who is Lecturer at the Department of the International Relations. This is also an opportunity that Knowledge Hub seeks to avail in the future. We plan of starting our own reading club in different cities throughout Pakistan to encourage the reading culture amongst the people of Pakistan. Book Fairs: The first International Book Fair was held in Karachi and Lahore last year at the expo centre and it was well received by the public at large despite the fact that all the books were originals and were highly priced. Knowledge Hub also seeks to participate in such book fairs at both national and international level in the future. Mobile Bookshops: The concept of a Mobile Bookshop was first used by the Welcome Book port some years back. Recently, Oxford started its own mobile book shop and it has been touring the city for quite some time now. Set on a truck, with the back converted into a small book shop with shelves and a counter set snugly at the end, the book shop attracted people outside various schools and universities. Threats: Threat of New Entrants: The threat of new entrant is always present in our industry and Knowledge Hub shall endeavor to keep track of the latest practices and customer trends and preference in order to stay ahead of our game ahead of competition. Plagiarism Another threat is the problem of plagiarism. That is, either simply copying out whole extracts or stealing the idea or characters. Plagiarism is an old problem and a big worry for authors who spend time and money on writing a piece of good writing and then someone else copies it and sells it at a lower cost. Then there are one-time authors who just reproduce material from some international author and make money by claiming it as their own. Incentives for Writers: The government, the NGOs and the intellectuals hardly ever take the initiative to encourage young and budding writers of the country. This has resulted in most of the young authors getting their works published under foreign publishers. Decline in Reading Habits: There has been a visible decline in reading habits in last few decades. This can be attributed to a number of factors like television, internet and other means of entertainment. Product Market Strategy: Segmentation: Our initial target market for the first five years of operations includes: 10623380 school/ college going children in Punjab 3,683,920 college going individuals in Punjab 3034350 individuals going to universities or acquiring diploma in Punjab Literate individuals above the age of 25 in Punjab This overall customer base has been divided into segments on the following bases: Step No. 1- Geographic Segmentation: As of now we are catering to the consumer base in Lahore. Step No. 2 – Segmentation on the Basis of Consumer Age and Needs: From within this customer base our market is further divided into the segments on the basis of the ages and needs of the different customers. Books needs of consumer vary with age and needs such as academic, literary, entertainment or information, etc. Hence we have divided our Lahore consumer base into the following segments: Children below the ages of 10 for their academic, literary and entertainment needs. Children between the ages of 10 – 18 who seek to cater to their academic, literary/ information or entertainment needs. Individuals between the ages of 18 – 25 who seek to cater to their academic, literary/ information and entertainment needs and for research purposes. Individuals and professional from the ages of 25 and above for their academic, literary/ information and entertainment needs and for research purposes. Targeting: Knowledge Hub is provider of books to all the mentioned segments. The reason being that the market is already filled with book publishing brands that have had their names recognized and sought after. If we chose to cater to a narrow segment, chances would have been that our brand would not have attained quick popularity in the overall Lahore Market. Hence, Knowledge Hub is catering to all these segments. We shall target the abovementioned segments with the following products: Academic books for primary level Academic books for secondary level Academic books for university level Illustrated books Novels Best Sellers Our focus shall remain on the publishing of quality and up-to-date material. Positioning: Knowledge Hub will position itself as provider of latest academic and research material, the best literary material and best sellers in Urdu and English by quality writers i. e. both local and international. Knowledge Hub endeavors to position itself as a provider of high quality material at affordable prices. Brand Name: ‘Knowledge Hub’ represents the firm as being a provider of various different sources of knowledge, be it academic or in the form of beautiful pieces of writing to enrich our minds and groom our personalities. Marketing Mix: Product: Our products include: Academic Books for Primary Level: These further include English and Urdu language, mathematics, science, general knowledge, geography, national and international history, Islamiat,social studies and arts and crafts. Academic Books for Secondary Level: These further include English and Urdu language, advanced mathematics, biology, chemistry, physics, geography, national and international history, Islamiat, social studies, sociology, business studies and arts and crafts. Academic Books for University Level: These further include books for business studies, information technology, social sciences, media studies, engineering, commerce, law, pharmacy and medicine. Illustrated Books: These books include books on history, local and international cultures, wildlife, politics, etc. Novels: These include prices of writing by local, national and international writers. Our focus always remains to ensure that only quality material which does in fact impart some type of knowledge or provides quality entertainment and grooming to the readers. Best Sellers: This category includes the best selling stories and novels of today’s age and over the decades. E-Books: All of our publications shall be available online in the form of e-books. Price: High Value but Varying Purchasing Power of Consumers: Books are of tremendous value to readers. Readers of the same types of book belong to drastically varying income levels. Competitors’ Pricing: The prices that prevail in the market are not rigid. It an original book is priced high; its copy is prices at very low prices. Our competitors vary in terms of their size, market shares and prices. Consequently their prices also vary. Some competitors are charging premium pricing with tremendous profit margins due to attractive designing, book cover and page and printing quality. Penetration Pricing Strategy: Since the purpose of the creation of Knowledge Hub is to ensure availability of knowledge to all Pakistanis who seek for it, we use penetration pricing strategy. Knowledge Hub believes that knowledge is not a product to be sold but a service to be provided to our nation so that we may progress in this fast paced world. Knowledge Hub has priced its products so that they are easily purchased by the masses. Knowledge Hub will use penetration strategy to penetrate in the market which is already filled with numerous providers. Knowledge Hub has made a point to publish original books at affordable prices and only attain profits sufficient to achieve our vision of making knowledge accessible to all. The attainment of our vision requires periodic expansions first with in Punjab then throughout the country. Since, Knowledge Hub is a sole proprietorship; the profits shall be retained and reinvested in the expansion of the business. Knowledge Hub has priced its products a bit cheaper and more affordable as opposed to its competitors while maintaining high quality in terms of designing, book covers, page material and printing. We strive to position ourselves as the provider of high-quality material at reasonable prices. The prices of our products shall fall in the following ranges: Sr. No. Product Line Price Range (Rs). 1 Academic Books for Primary Level 200  Ã¢â‚¬â€œ 500 2 Academic Books for Secondary Level 250 –800 3 Academic Books for University Level 300 –1200 4 Illustrated Books Up till 1500 5 Novels 200 –1500 6 Best Sellers 300 – 1800 7 Primary Level Academic E- Books 150 – 400 8 Secondary Level E- Books 150- 650 9 University Level E- Books 200 –850 10 Illustrated E- Books Up till 850 11 E- Novels 150 – 900 12 Best Seller E- Books 200 –1000 Price Sensitivity of Customers: In the Lahore market, the customers are highly price sensitive. The customers shall most willingly opt for a provider of quality books at low prices. Distribution Strategy: Our office shall be located near Urdu bazaar, Lahore. Our products shall move from us to our distributor who will supply our books to retailers and from these retailers our books shall reach our consumers. Our distribution network is as follows: Distributors: Since book stores no longer order directly from most publishers and prefer fewer vendors and quicker service. We shall enter into a contract with our distributor and allow us to reach the book trade (independent bookstores, chain bookstores, wholesalers and libraries) is with a distributor. Our Distributor will have sales reps who visit book stores and libraries, show your book catalogs and take orders. We shall use the following touch points to provide our products to the target market: Book Stores: Our products shall be made available in book stores throughout Lahore. Initially our books shall be available at the following book stores: Defence Book Store Readings Classic Book Store Ferozsons Kitabistan Liberty Books Readings The Last Word Variety Books Books Bank and Gift Shop Ravi Book Store Mavra Books. Libraries: We shall also have our books placed in the following libraries throughout Lahore: Quaid-e-Azam Library Environment Data Resource Centre (EDRC) Defence Public Library Complex Punjab Public Library Atomic Energy Minerals Centre Library Islamia College Library, Islamia College Government College Library, Government College University Lahore University of Management Sciences Library, Lahore University of Management Sciences National Library of Engineering Sciences Dyal Singh Trust Library Provincial Assembly of the Punjab Library, Lahore People’s Bank Library, Lahore Pakistan Administrative Staff College Library, Lahore The Ewing Memorial Library Babar Ali Library – Atchison College, Lahore Punjab University Library, Lahore Dr Baqir’s Library, Lahore Gift Stores: Gift stores will also be a touch point of Knowledge Hub. It is often noticed that people gift good illustrated books, novels and best sellers as gifts on various occasions. Hence placing our products in gift stores shall cause an increase in the number of sales and the popularity of our brand name. Places like Illusions will serve as an ideal place for placing our products. Gift Baskets: We shall also enter into mutual agreements with gift shop owners to form ‘gift baskets’ which will include different items to be placed in the form of a gift basket and including one of our books. An example of this can be a pen/ a diary or note pad along with a small teddy bear and a novel or best seller placed in a beautiful gift basket and covered with a net and tassels. Fiction and Poetry Books: Fiction and poetry can be sold better in gift stores as opposed to book stores. Website: Knowledge Hub shall maintain a comprehensive website containing electronic versions of all its books. We will use this website to display our catalogs of books and to sell those books in both paper editions and in electronic versions on-line. Customers would be able to be directed to bookstores for the paper version and they may send an order directly to us. They would also be able to unlock and access an on-line edition instantly by making a online payment. Our website viewers would also be able to opt to receive periodic catalogs of our products online via e-mail. Retail Outlet: By 2014, we plan to open our own retail outlet in H – Block Defence with the name of Knowledge Hub. Our outlet shall contain all of our publications. Tahira: Promotion Strategy: Knowledge Hub will use the following promotional techniques to promote its products: Newspaper and Magazine Advertisement: Knowledge Hub shall have the following print advertisement placed in the newspapers and magazines including Sunday Times, Zarnigar, Weekly Pulse,Pakistan Textile Journal Magazine ,Herald ,Defence Journal Magazine (DJ),etc. Book Promotion: Knowledge Hub will use tools like book reviews, news releases and a limited amount of highly targeted direct mail advertising. Book reviews and news releases result in free (editorial) publicity while direct mail (Postal and email) delivers your sales message directly to potential customers. Book Reviews: Book reviews are editorial copy that is far less expensive and much more credible than space advertising. The huge number of magazines, newsletters and newspapers columns that are in the market will receive review packages. These reviews will be published for the trade wholesalers and bookstores and libraries. These reviews tell the trade what is coming so they can order the books before the public reads the post-publication reviews in the popular magazines and newspapers. News Releases: We shall follow the review copies with news releases and articles every month to the very same magazines, newsletters and newspapers. These news releases allow opinion-molding editors know what you are doing and why your book has the information their readers need. Direct Mail Advertising: Direct mail advertising of our catalog and books will provide us with the opportunity to get our complete sales message to a specific potential buyer. Our mailing list for direct mails shall remain selective and include only our main buyers. Broadcast E-mail to Main Buyers: This method will is even better than direct postal mail and eliminates printing, stuffing and postage while getting a quick response. Knowledge Hub will assemble email addresses from customers and potential customers and alert them pertaining to our books. Radio & TV Interviews: Radio/TV interviews are an easy way to have the masses asking and searching for an upcoming book. Knowledge Hub shall arrange radio and television interviews of authors hose books are about to be published with us. If the book gains popularity so do we. Radio and television talk shows need interesting guests to attract listeners and viewers. Most people feel that authors are experts and celebrities, so most of the guests booked on such shows are authors. While advertising products on the air is expensive interviews are an editorial matter. People listen to editorial matter. Interviews are more effective than advertising and they are free. Hence, they will serve as an inexpensive way to sell our books. Autograph Parties: Knowledge Hub will arrange autograph parties or book signings in our client bookstores, both chain and independent to draw potential customers into their stores. Best Sellers: Knowledge Hub will endeavor so that its books are labeled as bestsellers. This would drastically improve our brand image. Book fairs: Knowledge Hub will organize book fairs are where publishers traditionally show their books but there are several different kinds. There fairs will be for bookstore buyers, libraries, the general public and so on. Initially these book fairs will be local but they will be replaced with book fairs in other cities as our business expands. Specific Category Promoting: From time to time Knowledge Hub shall also indulge in specific category book promotion. Where we shall promote our different products like children’s books, illustrated books, etc in schools, universities, etc. Audible Books: Some of our potential customers may commute or travel a lot and hence will not have time to read our book. This constraint can be overcome by forming audible books. E-Books: One of the very rapidly emerging trends in the book publishing industry is that –f electronic books. Knowledge Hub shall take complete advantage of this means of reaching to the targeted audience. Public Relations: Knowledge Hub will endeavor to maintain good relations with the distributor, retailing chains,gift stores, editors who write book reviews and leading authors. Sales Promotions: Knowledge Hub will provide sales promotions to retailers and libraries such as books at discount prices when purchased in huge bulks to motivate them to purchase our products and help the company penetrate into the target market. Implementation Strategy: Our primary function as book publishers is to procure books and make them available for sale. Procurement of books will involve soliciting and accepting marketable manuscripts, contracting with the author for selling rights, and getting them copies printed and distributed. The selling of our books will involve making contacts with industry retailers and distributors, and selling directly through your own website. We shall make a percentage of each sale and pay the balance to the author. Operational Plan: For works written independently of the publisher, writers shall first submit a query letter or proposal directly to a literary agent or to a publisher. Submissions sent directly to a publisher are referred to as unsolicited submissions, and the majority come from previously unpublished authors. We shall accept these unsolicited manuscripts, and place it in the slush pile, which our readers will sift through to identify manuscripts of sufficient quality or revenue potential to be referred.

Sole Proprietor Essay

Advantage ( 1 ) Easy to set up: Exclusive trading concern can be established really rapidly and easy. Anybody who wants to get down a concern can make so. whenever. he likes. In Nepal. merely nominal legal formality of enrollment is necessary. ( 2 ) Easy to fade out: Dissolution of exclusive trading concern every bit simple. There are no legal formalities in this respect. Owner can fade out concern whenever he likes to make so. ( 3 ) Effective control: In this signifier of concern organisation. owner is responsible for all types of activities. He controls all maps and takes determinations at appropriate clip. So. the concern is controlled in an effectual manner. He controls all maps and takes determinations at appropriate clip. So. the concern is controlled in an effectual manner. ( 4 ) Direct motive: The direct relationship between attempt and reward serves as a powerful inducement to the owner to pull off the concern expeditiously. The owner being entitled to the full net incomes of the conc ern tries to maximise net incomes by using his endowments and activities in the best possible manner. ( 5 ) Personal supervising: The owner is able to oversee every work of the concern himself. This helps to construct up a stopping point and affable relationship with the employees. He can take personal involvement in his clients and he can run into their single and typical demands easy and adequately. It ensures efficaciously and economic system in the operation. ( 6 ) Benefit of Unlimited Liability: The owner can obtain loan on his personal recognition. The liability being limitless. the creditors feel secure in widening recognition. ( 7 ) Prompt determination: The proprietor has full control over his concern. So he is able to take determination quickly without confer withing anybody. If more than one individual is involved in doing determination so hold is bound to happen. ( 8 ) Secrecy: The owner can keep concern secrets. There is no legal ordinance sing the revelation of concern information. So he can keep secretiveness from his rivals. Secrecy is really critical for concern success. ( 9 ) Flexible: Exclusive bargainer enjoys the maximal flexibleness in his concern. If any alteration in concern is required. he does no hold to confer with any one and can do the alteration without hold. No legal formalities are required for doing alterations in operations. This gives flexibleness to this type of concern. ( 10 ) Social importance: From societal point of view sole trading concern is of import because: – It is a agency for gaining support independently. – It avoids concentrating wealth in few custodies. – It brings competition among exclusive owners. so they provide goods in cheaper rates to the society. – Qualities like autonomy. assurance. tact and enterprise are developed in this organisation. ( 11 ) Net incomes: All the net incomes accrue to the exclusive owner. There is no limitation on the capital employed in the concern. Capital additions inclusion rates are lower for persons than for concern entities. The exclusive owner besides enjoys the normal revenue enhancement discounts and the one-year capital additions exclusion. Disadvantage 1 ) Limited Capital: The capital of one owner is normally little. It is limited to his personal nest eggs and borrowing on personal security. Hence. he can non set about farther enlargement and development deficiency of extra capital and fails to bask the internal and external economic sciences of graduated table. ( 2 ) Limited Management Ability: In the present competitory universe complexnesss of managerial occupations are increasing everyday. One adult male can non be expert in each and every map of the concern. For deficiency of resources he may non be able to utilize the services of experts. So limited managerial ability will impede the growing of the house. ( 3 ) Unlimited Liability: The limitless liability of exclusive proprietary is a great disadvantage. A loss in concern may strip the owner of his assets excessively. So large concern houses necessitating more economic hazard are non established under this organisation. ( 4 ) Uncertain Life: The success of this type of concer n depends on the personal capacity of owner. In instance of his decease concern may be discontinued. The replacements may non hold the same grade of autonomy and ability. Therefore. there is no uninterrupted being of the house. ( 5 ) Dull and Monotonous Work: The owner has the exclusive right on net income of the concern. So he tries to work more to gain more net income. Consequently the work becomes dull and humdrum. His wellness is severely affected and he is deprived of pleasant societal dealingss and affable household life. ( 6 ) No Large Economicss and Specialization: A little concern graduated table can non economies in purchases. production and selling. Similarly the benefit of specialisation of service of experts can non be obtained. ( 7 ) Loss in Absence: A exclusive trading has to endure from the long unwellness of the owner. In his absence concern comes to a deadlock. This can take to heavy losingss. Employees may non be efficient or they may non take sincere involvement. ( 8 ) Possibility of Incorrect Decision: In exclusive trading a businessman alone makes all the determinations. Hence. determinations may non be ever right and wise. When a considerable figure of people are involved in doing determination procedure a wise and mature determination is possible. – The full value of the concern signifiers portion of the exclusive proprietary estate in the event of decease. This could take to estate responsibility being paid. – The concern demands to be shut down on the exclusive owners decease. there is no automatic continuance of the concern on decease. Particular proviso can be made via the will though. Partnership Advantage ( 1 ) Easy to organize and Dissolve: A simple understanding among spouses is sufficient to register a partnership. No other formal paperss and legal formalities are required. It is every bit easy and cheap to fade out a partnership. ( 2 ) More Resources: Partnership is a combination of several individuals. So more capitals can be collected and advantages of large-scale concern may be obtained. More spouses can be added if capital demands are big. ( 3 ) Harmonization of Different Abilities: In partnership house. there is a harmonisation of different abilities of different spouses. The endowment. expertness and cognition of spouses in different Fieldss can be used for the public assistance of the concern. So. there is more opportunity for the promotion of concern. ( 4 ) Credit Facility: The ability of spouses being limitless they will be able to borrow more capital. As compared to sole trading concern. partnership has more recognition worthiness. A partnership house to the finance esta blishments and other creditors can supply more securities. ( 5 ) Appropriate Decisions: In spouses determinations are taken by consensus of all spouses. So they take appropriate determinations and there is less opportunity of incorrectness. Fear of limitless liability encourages cautiousness and attention. therefore. puts a brake on headlong and foolhardy determinations. ( 6 ) More Inspiration: There is more inspiration to work because spouses think that the consequence of their difficult work will be rewarded in the signifier of more net incomes to them. ( 7 ) Close Supervision: The spouses themselves look after the concern. so they avoid wastage. They have direct entree to employees and can promote them for more production. ( 8 ) Secrecy: The concern personal businesss and histories of the partnership do non necessitate promotion by jurisprudence as in companies. So. spouses can maintain concern secrets within themselves. ( 9 ) Flexible: In partnership house. there can be any alteration in managerial set-up. capital. and graduated table of production. These alterations can be made by the common understanding between spouses. Therefore. it enjoys flexibleness. ( 10 ) Protection of Minority Interests: Every spouse has a right to take part in the direction of the concern. All-important determinations are taken by the consent of all spouses. In event of disagreement minority may even Veto a declaration. Hence. it protects the involvement of minor spouses. ( 11 ) Reduced Hazard: all spouses will portion the losingss incurred by the house. So loss of each spouse will be less in comparing to sole trading concern. – There are no formal demands for the creative activity of a partnership. – There are no formal demands for the running of the concern. This makes partnerships an cheap concern entity to run. – Partners are taxed in their ain capacities. which could take to lower revenue enhancement. depending on the degree of income of the person. Disadvantage ( 1 ) Uncertain Being: The partnership house suffers from the unsure being because it can be dissolved at the clip of decease of insolvency of spouse. Therefore. the life. of the house is dependent on the life of the spouses. In the same manner a concern may end due to dishonesty of a spouse or struggle among spouses. ( 2 ) Unlimited Liability: The liability of spouses is limitless. The spouses are jointly and individually apt for the debts of the house. So they try to avoid hazards and curtail the enlargement and growing of the concern. ( 3 ) Trouble in Prompt Decisions: All-important determinations are taken by the consent of all spouses. So determinations doing procedure becomes clip devouring and loss of concern chances due to detain in decision-making. Normally in concern. the self-generated determinations can merely enable the house to bask higher net incomes. which is non possible in partnership. ( 4 ) Danger of Disputes: Many individuals are proprietors of a partnership house . Every spouse wants to demo his importance. Misunderstanding and covetous inclinations are the common failings of the human existences. So there is ever a danger difference among them. which may take concern to an terminal. ( 5 ) Trouble on Transfer of Shares: A spouse can non reassign his or go forth the house portions without the consent of all other spouses. The consent of all other spouses is mandatory. So people do non desire to put money in a partnership concern. ( 6 ) Hazard of Implied Authority: A dishonest or unqualified spouse may take the house in troubles. The other spouses will hold to run into the duties incurred by the spouse. The proviso of implied authorization may make jobs for the concern. ( 7 ) Lack of Public Confidence: The populace does non hold much assurance in a partnership concern. This is because personal businesss of a partnership concern are non unfastened to public examination. Its histories are non required to print. There is no much governmental control over the operations of a partnership. ( 8 ) Limited Resources: Modern concern demands big sum of capital. But in partnership the resources are limited to the personal financess of the spouses. Borrowing capacity of spouses is besides limited. Even though the capital is more in partnership than in instance of exclusive trading. but still is non sufficient for the smooth behavior and operation of large-scale concern. – Not a separate legal entity and therefore spouses are apt for the partnership debts in their ain capacity. The personal. single assets of the spouse may be attached for the liabilities of the partnership under certain fortunes. – The partnership terminates on the decease of a spouse. Unless there are sufficient financess available to purchase the asleep partner’s portion o r to pay his portion in hard currency. the assets of the partnership will hold to be sold. – A spouse may non be a member of a pension/ provident fund. as there is no employee/employer relationship between the partnership and its spouses. Joint stock company Advantages ( 1 ) Huge Financial Resources: A company can roll up big amount of money from big figure of stockholders. There is no bound on the figure of stockholders in a public company. Since its capital is divided into portions of little value even a individual of little agencies can lend to its capital by merely buying its portions. It installations the mobilisation of nest eggs of 1000000s for the productive intents. In add-on. a company can borrow from Bankss to a big extent and besides issue unsecured bonds to public. ( 2 ) Limited Liability: The liability of stockholders in a company is limited to the face value of the portions they have purchased. The limited liability encourages many people to put in portions of joint stock companies. If the financess of a company are deficient to fulfill the claims of the creditors. no members can be called to pay anything more than the value of portions held by them. ( 3 ) Ageless Being: Due to its separate legal being. it has ageless being. The life of company is non dependent dice or go insolvent. The members of a company may travel on a company. The stableness of concern is of great importance to the society every bit good as to the state. ( 4 ) Transferability of Shares: The portions if a public company are freely movable. This transferability of portions brings about liquidness of investing. It encourages many people to put. It besides helps a company in tapping more resources. ( 5 ) Diffusion of Hazard: In exclusive proprietary and in partnership concern. few individuals portion the hazard. But in company. the figure of stockholders is big. so many individuals portion hazard. Therefore. the load of hazard upon any person is non immense. This attracts many investors. It enables companies to take up new ventures. ( 6 ) Efficient Management: In company ownership is separate from direction. A company has adequate resources to use the services of experts and directors who may be extremely specialized in different Fieldss of direction. It can pull gifted individuals by offering them higher wages and better calling chances. The efficient direction will assist the company to take balanced determinations and can direct the personal businesss of the company in the best possible mode. It besides helps to spread out and diversify the activities of the company. ( 7 ) Economies of Large Scale Production: Large-scale production of modern yearss is the consequence of company signifier of organisation. This consequences in economic sciences in production. purchase. selling and direction. These economic systems will assist company to supply quality goods at lower cost to the consumers. ( 8 ) Democratic Management: the elective representatives of stockholders called the ‘directors’ manage The Company. Directors are responsible and accountable to the general organic structure of stockholders. Decisions are taken by a bulk of ballots wholly based upon democratic rules. This prevents in misdirection of a company. ( 9 ) Public Assurance: A company enjoys a greater public assurance and repute in the market due to legal control. promotion of histories and ageless being. Audit of Joint Stock Company is mandatory. A company’s fiscal histories and statements are published. circulated and are unfastened to public review. Therefore public have enough religion in it. So. it can acquire loan from different fiscal establishments. ( 10 ) Social Importance: The company provides chance to mobilise scattered nest eggs of the community. It besides creates employment chances. Due to large-scale production consumers get cheaper goods. The society is supplied with adequate measure of goods. Government gets income in the signifier of revenue enhancements. Disadvantages ( 1 ) Trouble in Formation: A company is non easy to organize and set up. A figure of individuals should be ready to tie in for acquiring a company incorporated. It requires a batch of legal formalities to be performed. The portions will hold to be sold during the prescribed clip. It is both expensive and hazardous. ( 2 ) Lack of Secrecy: A company has to detect many legal formalities. Most of the concern activities are decided through meetings. Net income and Loss Accounts and Balance Sheet are required to be published. So trade secrets can non be maintained. ( 3 ) Delay in Decisions: In company determinations doing procedure is clip devouring. Either Board of Directors of by General Annual Meetings makes all important determinations. So many chances may be lost due to detain in determination devising. ( 4 ) Separation of Ownership and Management: A company is owned by stockholders but managed by managers. The stockholders play an undistinguished function in the working of the company. Though managers are proprietors of some making portions merely. yet the consequence of their activities is to be borne by all stockholders. The net income of the company belongs to stockholders and the Board of Directors is paid merely on a committee. There is no direct relationship between attempts and wagess. So the direction does non take personal involvement in the workings of company. Hence. they may work against the involvement of huge bulk of stockholders. ( 5 ) Guess in portions: The Joint Stock Companies facilitate guess in the portions at stock exchanges. It has been found that even the managers and the directors of the company indulge in pull stringsing the value of portions to their advantage. When they want to buy the portions they lower the rate of dividend and when they want to dispose of the portions they declare dividends at a higher rate. ( 6 ) Oligarchic Management: The stockholders who are the existent proprietors do non hold much voice in the direction. A smattering of stockholders. who besides manage the personal businesss of the company. are able to hold control over it. Theoretically the company is democratic. but in pattern it is largely a instance of oligarchy ( Rule by few ) . A few individuals hold power and control and seek to work the bulk. Therefore. it does non advance the involvement of the stockholders in general. ( 7 ) Excessive Regulation: A company has to detect inordinate ordinances imposed by the jurisprudence of the state. The inordinate ordinances are made with a position to protect the involvement of the stockholders and the populace but in pattern they put obstructions in their normal and effectual working. A batch of cherished clip. attempts. and fiscal resources are wasted in following with statutory demands. ( 8 ) Conflict of Interest: In a company there are many parties whose involvement may collide and the consequence may be struggle of involvements. The direction. the stockholders. the employees. the creditors and the authorities may hold their ain single involvements. Therefore. a lasting type of struggle of involvements may go on to be in the companies. These struggles by and large lead to inefficiency in the direction and cut down employee morale. ( 9 ) Disregard of Minority: the stockholders holding bulk of them decide all major issues in company. Majority group ever dominate over the minority group whose involvement are ne'er represented in the direction. The company act provides steps against subjugation of minority. but the steps are non really effectual.