Ch1 Analysis Free Essays

CHAPTER 1—INTRODUCTION TO FINANCIAL REPORTING MULTIPLE CHOICE 1. Charging off equipment that cost less than $20 would be an example of the application of: a. |going concern| b. We will write a custom essay sample on Ch1 Analysis or any similar topic only for you Order Now |cost| c. |matching| d. |materiality| e. |realization| ANS:D 2. The going concern assumption: a. |is applicable to all financial statements| b. |primarily involves periodic income measurement| c. |allows for the statements to be prepared under generally accepted accounting principles| d. |requires that accounting procedures be the same from period to period| e. |none of the answers are correct| ANS:C 3. Understating assets and revenues is justified based on: a. |realization assumption| b. |matching| c. |consistency| d. |realization| e. |none of the answers are correct| ANS:E 4. The assumption that enables us to prepare periodic statements between the time that a business commences operations and the time it goes out of business is: a. |time period| b. |business entity| c. |historical cost| d. |transaction| e. |none of the answers are correct| ANS:A 5. Valuing assets at their liquidation values is not consistent with: a. |conservatism| b. |materiality| c. |going concern| d. |time period| . |none of the answers are correct| ANS:C 6. The business being separate and distinct from the owners is an integral part of the: a. |time period assumption| b. |going concern assumption| c. |business entity assumption| d. |realization assumption| e. |none of the answers are correct| ANS:C 7. The principle that assumes the reader of the financial statements is not interested in the liquidation values is: a. |conservatism| b. |matching| c. |time period| d. |realization| e. |none of the answers are correct| ANS:E 8. An accounting period that ends when operations are at a low ebb is: a. a calendar year| b. |a fiscal year| c. |the natural business year| d. |an operating year| e. |none of the answers are correct| ANS:C 9. The accounting principle that assumes that inflation will not take place or will be immaterial is: a. |monetary unit| b. |historical cost| c. |realization| d. |going concern| e. |none of the answers are correct| ANS:A 10. Valuing inventory at the lower of cost or market is an application of the: a. |time period assumption| b. |realization principle| c. |going concern principle| d. |conservatism principle| e. |none of the answers are correct| ANS:D 11. The realization principle leads accountants to usually recognize revenue at: a. |the end of production| b. |during production| c. |the receipt of cash| d. |the point of sale| e. |none of the answers are correct| ANS:D 12. The comment that â€Å"items that are not material may be recorded in the financial statements in the most economical and expedient manner possible† is representative of: a. |matching| b. |conservatism| c. |realization| d. |materiality| e. |none of the answers are correct| ANS:D 13. The assumption that deals with when to recognize the costs that are associated with the revenue that is being recognized is: a. matching| b. |going concern| c. |consistency| d. |materiality| e. |none of the answers are correct| ANS:A 14. The most significant current source of generally accepted accounting principles is the: a. |New York Stock Exchange| b. |Accounting Principles Board| c. |Accounting Research Studies| d. |AICPA committee on Accounting Procedure| e. |Financial Accou nting Standards Board| ANS:E 15. All but one of the following statements indicates a difference between the Financial Accounting Standards Board (FASB) and prior approaches. Select the one that is not a difference. a. The FASB is independent of the AICPA. | b. |The size of the board is much smaller. | c. |The FASB has broader representation. | d. |The FASB is the primary board for the development of generally accepted accounting principles. | e. |Members of the FASB serve on a full-time basis. | ANS:D 16. The Accounting Principles Board issued Opinions between: a. |1959-1973| b. |1939-1959| c. |1973-present| d. |1966-1976| e. |none of the answers are correct| ANS:A 17. The Financial Accounting Standards Board has issued statements between: a. |1960-1973| b. |1939-1959| c. |1973-present| d. 1966-1976| e. |none of the answers are correct| ANS:C 18. Accountants face a problem of when to recognize revenue. Which of the following methods of recognizing revenue is not used in practice? a. |point of sale| b. |point of order acceptance| c. |end of production| d. |receipt of cash| e. |revenue recognized during production| ANS:B 19. The organization that has by federal law the responsibility to adopt auditing standards is the: a. |New York Stock Exchange| b. |Public Company Accounting Oversight Board| c. |Accounting Principles Board| d. |Financial Accounting Standards Board| . |AICPA Committee on Accounting Procedure| ANS:B 20. By law, the setting of accounting standards is the responsibility of the: a. |AICPA Committee on Accounting Procedure| b. |New York Stock Exchange| c. |Accounting Principles Board| d. |Securities and Exchange Commission| e. |Financial Accounting Standards Board| ANS:D 21. The assumption that allows accountants to accept some inaccuracy, because of incomplete information about the future, in exchange for more timely reporting is: a. |conservatism| b. |time period| c. |business entity| d. |materiality| e. |realization| ANS:B 22. Which of the following does not relate to The Public Company Accounting Oversight Board (PCAOB)? a. |Two members of the board must be CPAs| b. |In addition to appointing the five members of the PCAOB, the SEC is responsible for the oversight and enforcement authority over the Board| c. |The PCAOB consists of five members appointed by the SEC| d. |The PCAOB is to adopt auditing standards| e. |The PCAOB is to adopt accounting standards| ANS:E 23. Understating expenses is justified based on: a. |time period assumption| b. |conservatism assumption| c. |materiality assumption| d. |matching assumption| . |none of the answers are correct| ANS:E 24. At the end of the fiscal year, an adjusting entry is made that increases salaries payable and increases salaries expense. This entry is an application of which accounting principle? a. |full disclosure| b. |materiality| c. |matching| d. |realization| e. |historical cost| ANS:C 25. Accountants provide for inflation using which of the following acc ounting principles? a. |going concern| b. |time period| c. |conservatism| d. |materiality| e. |none of the answers are correct| ANS:E 26. Which of these measurement attributes is not currently used in practice? . |historical cost| b. |relevant cost| c. |current market value| d. |current cost| e. |present value| ANS:B 27. The following data relate to Swift Company for the year ended December 31, 2008. Swift Company uses the accrual basis. Sales on credit|$250,000| Cost of inventory sold on credit|170,000| Collections from customers|220,000| Purchase of inventory on credit|150,000| Payment for purchases|140,000| Selling expenses (accrual basis)|40,000| Payment for selling expenses|45,000| Which of the following amounts represents income for Swift Company for the year ended December 31, 2008? a. $60,000| b. |$50,000| c. |$40,000| d. |$35,000| e. |$30,000| ANS:C 28. The following data relate to Rocket Company for the year ended December 31, 2008. Rocket Company uses the cash basis. Sale s on credit|$180,000| Cost of inventory sold on credit|130,000| Collections from customers|170,000| Purchase of inventory on credit|140,000| Payment for purchases|150,000| Selling expenses (accrual basis)|20,000| Payment for selling expenses|25,000| Which of the following amounts represents income for Rocket Company for the year ended December 31, 2008? a. |$30,000| b. |$5,000 loss| c. |$40,000| . |$45,000| e. |$50,000| ANS:B 29. The following data relate to Gorr Company for the year ended December 31, 2008. Gorr Company uses the accrual basis. Sales for cash|$200,000| Sales for credit| 220,000| Cost of inventory sold | 180,000| Collections from customers| 300,000| Purchases of inventory on credit| 190,000| Payment for purchases| 180,000| Selling expenses (accrual basis)| 50,000| Payment for selling expenses| 60,000| Which of the following represents income for Gorr Company for the year ended December 31, 2008? a. |$180,000| b. |$185,000| c. |$190,000| d. |$200,000| e. none of the a nswers are correct| ANS:C 30. The following data relate to Falcon Company for the year ended December 31, 2008. Falcon Company uses the cash basis. Sales for cash|$180,000| Sales for credit| 190,000| Cost of inventory sold| 210,000| Collections from customers| 350,000| Purchases of inventory on credit| 200,000| Payment for purchases| 220,000| Selling expenses (accrual basis)| 60,000| Payment for selling expenses| 70,000| Which of the following amounts represents income for Falcon Company for the year ended December 31, 2008? a. |$90,000| b. |$80,000| c. |$70,000| d. $60,000| e. |none of the answers are correct| ANS:D 31. Other than December, the most popular month for fiscal year-end is: a. |January| b. |March| c. |June| d. |September| e. |October| ANS:D TRUE/FALSE 1. In order to determine the economic success of a grocery store, we should view it as separate from the other resources that are owned by this individual. ANS:T 2. Many of our present financial statement figures would be misleading if it were not for the going concern assumption. ANS:T 3. The going concern assumption does not influence the classification of assets and liabilities. ANS:F 4. The most accurate way to account for the success or failure of an entity is to accumulate all transactions from the opening of business until the business eventually liquidates. ANS:T 5. An entity usually cannot reasonably account for the profits related to inventory until that inventory is sold in the normal course of business. ANS:T 6. To the extent that money does not remain stable, it loses its usefulness as the standard for measuring financial transactions. ANS:T 7. A loss in value of money is called inflation. ANS:T 8. At the time of originally recording a transaction, historical cost also represents the fair market value. ANS:T 9. It would always be conservative to value inventory at market. ANS:F 10. Accountants normally recognize revenue when cash is received. ANS:F 11. The 1933 and 1934 U. S. federal securities laws virtually gave the Securities and Exchange Commission (SEC) authority and responsibility for the development of generally accepted accounting principles. ANS:T 12. The Statements of Financial Accounting Concepts are intended to provide the Financial Accounting Standards Board with a common foundation and the basic underlying reasoning on which to consider the merits of various alternative accounting principles. ANS:T 13. Eventually, the Financial Accounting Standards Board intends to evaluate current principles in terms of the concepts established in the Financial Accounting Concepts. ANS:T 14. Financial Accounting Concepts establish generally accepted accounting principles. ANS:F 15. According to the second Financial Accounting Concept, those characteristics of information that make it a desirable commodity can be viewed as a hierarchy of qualities, with understandability and usefulness for decision making of most importance. ANS:T 16. Performance indicators for nonbusiness organizations are usually formal budgets and donor restrictions. ANS:T 17. Reasonable inaccuracies of accounting for an entity, short of its complete life span, are accepted. ANS:T 18. Using the business entity assumption, the financial statements are prepared separate and distinct from the owners of the entity. ANS:T 19. The time period assumption indicates that the entity will remain in business for an indefinite period time. ANS:F 20. Timeliness is a pervasive constraint imposed upon financial accounting information. ANS:F 21. Relevance and reliability are two primary qualities that make accounting information useful for decision making. ANS:T 22. Predictive value, feedback value, and timeliness are ingredients needed to ensure that the information is reliable. ANS:F 23. Decision usefulness is a pervasive constraint imposed upon financial accounting information. ANS:F 24. Relevance is a quality requiring that the information be timely and that it also have predictive value or feedback value or both. ANS:T 25. The SEC has the authority to determine generally accepted accounting principles and to regulate the accounting profession. ANS:T 26. Some industry practices lead to accounting reports that do not conform to the general theory that underlies accounting. ANS:T 27. All important events that influence the prospects for the entity are recorded and therefore are reflected in the financial statements. ANS:F 28. The accrual basis of accounting recognizes revenue when realized (realization concept) and expenses when incurred (matching concept). ANS:T 29. The cash basis recognizes revenue when cash is received and expenses when cash is paid. ANS:T 30. The accountant records only the events that affect the financial position of the entity and that can be reasonably determined in monetary terms. ANS:T 31. The Sarbanes-Oxley Act has far-reaching consequences for financial reporting and the CPA profession. ANS:T 32. Among the many responsibilities of the PCAOB is to adopt accounting standards. ANS:F 33. For a public company, the SEC requires that a report be filed annually on its internal control systems. ANS:T 34. The Sarbanes-Oxley Act has had an insignificant effect on the relationship between the company and the internal auditor. ANS:F 35. Reporting under Sarbanes-Oxley revealed that very few companies had material weaknesses in their controls and processes. ANS:F 36. Private companies are required to report under Sarbanes-Oxley. ANS:F 37. Some firms question the costs/benefits of implementing Sarbanes-Oxley. ANS:T 38. For many companies that use December 31 for the year-end, we cannot tell if December 31 was selected because it represents a natural business year or if it was selected to represent a calendar year. ANS:T 39. Accounting Trends Techniques is a compilation of data obtained by a survey of 600 annual reports to stockholders undertaken for the purpose of analyzing the accounting information disclosed in such reports. ANS:T 40. Many companies are on a 51-52 week fiscal year. ANS:F 41. The Sarbanes-Oxley Act has materiality implications. ANS:T 42. Web sites are not very useful when performing analysis. ANS:F 43. Accounting standards codification TM reorganizes the accounting pronouncements into approximately 90 accounting topics. ANS:T 44. Accounting standards codification TM addresses U. S. GAAP for nongovernmental entities. ANS:T PROBLEMS 1. Required: Listed below are several accounting principles and assumptions. Match the letter of each with the appropriate statement. a. Business entity|e. Historical cost|i. Full disclosure| b. Going concern|f. Conservatism|j. Verifiability| c. Time period|g. Realization|k. Materiality| d. Monetary unit|h. Consistency|l. Industry practices| 1. |Some industry practices lead to accounting reports that do not conform to the general theory that underlies accounting. | 2. |Requires the accountant to adhere as closely as possible to verifiable data. | 3. |Requires the entity to give the same treatment to comparable transactions. | 4. |Directs that the measurement that has the least favorable effect on net income and financial position in the current period be selected. 5. |The decision is made to accept some inaccuracy because of incomplete information about the future in exchange for more timely reporting. | 6. |Involves the relative size and importance of an item to a firm. | 7. |A reasonable summarization of financial information is required. | 8. |Deals with the problem of when to recognize revenue. | 9. |The primary value that is used for financial statem ents. | 10. |Standard of measure for financial statements. | 11. |The assumption that the entity being accounted for will remain in business for an indefinite period of time. 12. |Assumption that a business’s financial statements are separate and distinct from the personal transactions of the owners. | ANS: 1. |l| 2. |j| 3. |h| 4. |f| 5. |c| 6. |k| 7. |i| 8. |g| 9. |e| 10. |d| 11. |b| 12. |a| 2. Required: State the accounting principle or assumption that is most applicable: a. |The company uses the same accounting principle from period to period. | b. |Financial statements are prepared periodically. | c. |Subscriptions paid in advance are recorded as unearned subscription income. | d. |All significant financial transactions are reported. | e. Personal transactions of the stockholders are not recorded on the company’s financial statements. | f. |Land is recorded at $10,000, which was the amount paid. Current value of the land is $25,000. | g. |The accountants determine that the company is in danger of going bankrupt and therefore refuse to certify the statements as prepared according to generally accepted accounting principles. | h. |The company loses a major customer and does not record a loss. | ANS: a. |consistency| b. |time period| c. |realization| d. |full disclosure| e. |business entity| f. |historical cost| g. |going concern| h. |transaction approach| . Listed below are ten interrelated elements that are directly related to measuring performance and status of an enterprise according to SFAC No. 6, â€Å"Elements of Financial Statements. † a. Assets|f. Comprehensive income| b. Liabilities|g. Revenues| c. Equity|h. Expenses| d. Investments by owners|i. Gains| e. Distribution to owners|j. Losses| Required: Match the letter with the appropriate definition. 1. |Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events. 2. |Increases in the equity of a particular business enterprise resulting from transfers to the enterprise from other entities of something of value to obtain or increase ownership interests (or equity) in it. Assets are most commonly received as investments by owners, but that which is received may also include services or satisfaction or conversion of liabilities of the enterprise. | 3. |A decrease in the equity of a particular business enterprise resulting from transferring assets, rendering services, or incurring liabilities by the enterprise to owners. Decreases ownership interest (or equity) in an enterprise. | 4. |Decreases in the equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity during a period, except those that result from expenses or distributions to owners. | 5. |Outflows or other consumption or using up of assets or incurrences of liabilities (or a combination of both) from delivering or producing goods, rendering services, or carrying out other activities that onstitute the entity’s ongoing major or central operations. | 6. |The change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners. | 7. |Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. | 8. |The residual interest in the assets of an entity after deducting its liabilities. 9. |Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or engaging in other activities that constitute the entity’s ongoing major or central operations. | 10. |Increases in the equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances from revenues or investments by owners. | ANS: 1. |b| 2. |d| 3. |e| 4. |j| 5. |h| 6. |f| 7. |a| 8. |c| 9. |g| 10. |i| 4. Listed below are several qualitative characteristics. a. |understandability| b. |usefulness for decision making| c. |relevance| d. |reliability| e. |predictive| f. |feedback value| g. |timely| h. |verifiable| i. |representational faithfulness| j. |neutrality| k. |comparability| l. |materiality| m. |benefits of information should exceed its cost| Required: Match the letter (or letters) that goes with each statement. 1. |Two constraints included in the hierarchy. | 2. |For this quality, the information needs to have predictive and feedback value and be timely. | 3. These are the qualitative characteristics that are viewed as having the most importance. | 4. |SFAC No. 2 indicates that to be reliable, the information needs to have these characteristics. | 5. |Interacts with relevance and reliability to contribute to the usefulness of information. | 6. |Two primary qualities that make accounting information useful for decision making. | 7. |For this quality, the information must be verifi able, subject to representational faithfulness, and neutral. | 8. |SFAC No. 2 indicates that to be relevant, the information needs to have these characteristics. | ANS: 1. |l, m| 2. |c| 3. |a, b| 4. |h, i, j| 5. |k| 6. |c, d| 7. |d| 8. |e, f, g| 5. Listed below are ten phrases with the appropriate abbreviation. a. |Generally Accepted Accounting Principles (GAAP)| b. |Securities and Exchange Commission (SEC)| c. |American Institute of Certified Public Accountants (AICPA)| d. |Accounting Principles Board (APB)| e. |Financial Accounting Standards Board (FASB)| f. |Statements of Financial Standards (SFAS)| g. |Discussion Memorandum (DM)| h. |Statements of Position (SOP)| i. |Emerging Issues Task Force (EITF)| j. |Financial Reporting Releases (FRRs)| k. The Public Company Accounting Oversight Board (PCAOB)| Required: Match the letter with the appropriate definition. 1. |Issued by the SEC and give the SEC’s official position on matters relating to financial reports. | 2. |Accounting principles that have substantial authoritative support. | 3. |A task force of representatives from the accounting profession created by the FASB to deal with emerg ing issues of financial reporting. | 4. |Created by the Securities Exchange Act of 1934. | 5. |Issued by the Accounting Standards Division of the AICPA to influence the development of accounting standards. 6. |A professional accounting organization whose members are certified public accountants (CPAs). | 7. |Issued official opinion on accounting standards between 1959-1973. | 8. |This board issues four types of pronouncements: (1) Statements of Financial Accounting Standards (SFAS), (2) Interpretations, (3) Technical Bulletins, and (4) Statements of Financial Accounting Concepts (SFAC). | 9. |Presents all known facts and points of view on a topic; issued by the FASB. | 10. |Issued by the Financial Accounting Standards Board (FASB) and establish GAAP for specific accounting issues. 11. |Responsible for adopting auditing standards. | ANS: 1. |j| 2. |a| 3. |i| 4. |b| 5. |h| 6. |c| 7. |d| 8. |e| 9. |g| 10. |f| 11. |k| 6. Listed below are Concept Statements. a. |Statement of Financial Ac counting Concepts No. 1| b. |Statement of Financial Accounting Concepts No. 2| c. |Statement of Financial Accounting Concepts No. 3| d. |Statement of Financial Accounting Concepts No. 4| e. |Statement of Financial Accounting Concepts No. 5| f. |Statement of Financial Accounting Concepts No. 6| g. |Statement of Financial Accounting Concepts No. 7| Required: Match the letter that goes with each Concept Statement title. 1. |Objectives of Financial Reporting by nonbusiness| 2. |Elements of Financial Statements of Business Enterprises| 3. |Qualitative Characteristics of Accounting Information| 4. |Elements of Financial Statements (a replacement of No. 3)| 5. |Objective of Financial Reporting by Business Enterprises| 6. |Recognition and Measurement in Financial Statements of Business Enterprise| 7. |Using Cash Flow Information in Accounting Measurements| ANS: 1. |d| 2. |c| 3. |b| 4. |f| 5. |a| 6. |e| 7. |g| How to cite Ch1 Analysis, Essay examples

Business Strategy Managerial Economics

Question: Discuss about the case study Business Strategy for Managerial Economics. Answer: Introduction This project analyses a business strategy of a mobile service provider. With technological improvement day by day, competition in product market is growing. To keep parity with the current trends, mobile service providers adopt various strategies. There are both advantages and disadvantages of the strategies. Application of Game theory helps to analyse the issues effectively. According to Game theory in market framework, another firm (Manshaei et al. 2013) follows every firms strategy. Therefore, in formulating strategies, every company needs to consider competitors strategy simultaneously. One strategy in competitive market environment of mobile service is using bundling technique. The mobile service provider can provide more than one service in a package to gain competitive advantage over its competitors. A company can use price bundling strategy. In this case, the company can sell multiple services in a portfolio for a lower price than that could be charged for individual selling. These theories are used to analyse the case study. Describing the issues Issue highlighted in this assignment is that what would be possible strategy of the mobile operators in order to increase profit in spite of falling mobile prices. There are multiple options available to the mobile operators. For the service providers, mobile price falling is a matter of concern. As price falls, demand for services increase overtime. Therefore, to deal with this problem, companies offer unlimited voice call service along with free SMS service. This is a strategy of service bundling. This strategy is not enough to compete in the market. Hence, more strategies need to develop for the mobile operator. This is a market of oligopoly, where a few companies operate to provide mobile services. In this market new firms can enter in the market if they have potentiality. In oligopoly market companies can share the total market among them. Direct engagement in price war may result in loss for all the operators (Myerson 2013). One of the main problems that are faced by the mobile operator is rising capacity demand. They need to investment in developing mobile networking. Now the problem is whether all the firms behave rationally or not. Capacity improvement must have some costs such as network maintenance, marketing, technology development etc. If all mobile operators form a cartel, they can maximize industry profit and individual profit. However, the success depends on rationality of the individual firm. If one firm betrays, the cartel may break down (Rapoport 2012). The factors affect the demand for mobile services are accessibility of the network services by consumers, different choices of consumers for broadband services etc. As attractive packages are offered by mobile operators, demand for mobile data plan services are rising. Due to acquire more profit, companies try to offer more data plan. Increasing supply reduces the price of mobile plan. As there are multiple mobile operators in the market, market is shared among them. Therefore profit margin tends to fall (Manshaei et al. 2013). Figure 1: Demand and supply of mobile data plan (Source: created by author) Approaches for mobile operator Describing different approaches: Figure 2: Different approaches for mobile operators (Source: created by author) Bundling theory Bundling technique is strategy, which is applied by different organizations. Company can use service bundling or price bundling. In service bundling, mobile operator company can choose to offer various services as a package. Value added service or cross selling may also be done. This strategy attracts more customers. This strategy is mainly followed in special season. Price bundling is more attractive to the customer. It offers the package of variety services at much lower price than the consumer might have bought those services individually. Bundling strategy is profitable if marginal cost of using this strategy is low (Chung et al. 2013). Game theory Game theory is a model, which depicts market strategy of several existing competitors in the market. It is a useful tool in decision making. Using game theory, one mobile operator can choose strategy after consider other operators strategy in business operation. Nash equilibrium in game theory can be achieved if there is a dominant strategy for each company. Once the company reaches at Nash equilibrium, it would not want to deviate from the chosen strategy. The strategy achieved at Nash equilibrium I optimal solution for the mobile operator. This solution gives best possible utility given opponents decision (Derdenger et al. 2013). In game theory, the mobile operators are said to be rational if they try to maximize their own payoff with the available information. If all players behave rationally to maximize their profit, the decision making would be easier. In order to forming a strategy in game theory, first step is to identify the game element. The mobile operators can choose price, service, cost or capacity improvement in plying game (Kang et al. 2012). If there is imperfect information available to the operators regarding other companies, the game may be continued for several steps to reach equilibrium. The information required for a mobile operating company is performance of Competitor Company in the industry, pricing strategy, marketing strategy, financial performance etc (Trestian et al. 2012). Strategies available to the mobile operators are as follows: Figure 3: Profit maximization strategies by mobile operator (Source: created by author) Possible Solutions Possible solutions of the identified problems can be presented as below. Bundling strategy in game theory for mobile operators in order to increasing profit is as follows: Figure 4: Bundling strategies (Source: created by author) If the mobile operators choose to use bundling techniques, they have options represented in the above table. If the mobile operator chooses to provide multiple service packages, they can offer it at lower price. There is no package available for single service. To increase revenue, the firm can sell single service at higher price. Selling single service at lower price cannot generate much profit. However, in competitive environment it is good policy (Shi et al. 2012). However, this strategy may not be effective. If one firm charges low price for single service, other firm may follow this operator and tend to reduce price of any service. Direct engagement in price war would benefit no firm. Continuous reduction in price would reduce both industry and individual profit. Therefore, offering single service at low price is not a useful strategy for the mobile operator. In order to maximize revenue, the mobile operators can offer multiple services at high price. For the success of this strategy, it is required to take strategy evenly by all firms. It can be done by forming cartel. Cartel can be formed among several mobile operators by negotiating among themselves. If cartel can be formed, all the mobile operators can act as a monopolist in the market. Combined strategy would be to sell single or multiple services at higher price without government regulation (Stucchi et al. 2012). If there is no government intervention, mobile operators can charge price freely. They can set price like a monopolist. They can charge uniform rate for data plan. The charge would be higher. The quantity of service is determined at the point where MR intersects the marginal cost curve. When they act independently, they charge price according to the equilibrium point of intersection, which is lower than monopoly price. As they act like a monopolist, they charge price according to average revenue, which is higher than competitive price. At this price, mobile operator can provide service at higher price. The can make sufficient profit, as the consumer have no other options than to buy service at higher price. They cannot find any other alternative options in the market. There is a chance to maximize industry profit. Figure 5: Pricing strategy of Cartel (Source: created by author) They can offer single service at higher price. In this case also consumers are compelled to avail service. The profit of the individual firm depends on marginal cost of production. If the cost of production is high, that firm would make less profit compared to other firm. This strategy would be successful if all operators behave rationally. If any firm thinks that, it will charge lower price than cartel charge, at short run, it can make huge profit as consumers will move to the firm, which charging lower price. Nevertheless, in long run, this policy cannot sustain. In game theory, irrational actions are chosen by firm; if it thinks that its action would not followed by other firms. This perception is wrong in competitive market. When other firms realize that one firm is behaving otherwise, they start to play independently and try to take random strategy (Katsoulacos and Ulph 2013). If other existing mobile operators tend to reduce price of data plan, this would break down the cartel. In the price conflict, when the price is down below firms individual marginal cost, nothing but loss occurs. Therefore, trust is primary criteria for success of cartel. If strategies of two firms are considered the pay off matrix can be as follows:1st mover Figure 6: Pay off matrix (Source: created by author) In the above pay off matrix, different strategies of profit maximizations are shown. If it is assumed that the mobile operators have chosen three strategies such as minimization of cost, capacity maximization and collusion. The analysis is made for two rival mobile operators in the market. One company is first mover, which chooses decision first. At the time of taking strategies, the first mover takes decision of other firm into consideration. It is also assumed that both the mobile operator behave rationally. If the first mover thinks that 2nd firm may chose to minimize cost in order to the competitive advantage, the best available strategy for 1st firm is capacity maximization. It may happen that the first firm incurs higher cost compared to 2nd mover to provide lucrative data plan services or unlimited phone cal services. In this case, to get competitive advantage over the competitors, it would be strategic to improve capacity. Improvement in data plan, network services, reduction in call drop etc can give first firm a competitive advantage. This strategy would give first firm highest payoff. If both the firm chooses cost reduction strategy, this would give same utility to both the firms. Collusion cannot be formed without consent of other mobile operator; hence, this strategy would give nothing to the first firm. If the second firm chooses to maximize capacity, the first firm would definitely choose maximize capacity, as this would give both the mobile operator equal pay off. It is the optimal strategy for first firm. If the strategy of second firm is to make collusion with first firm, the first firm has two options. One is to agree with the first firm and make the cartel, which gives both the mobile operator highest payoff. Another is making decision independently and choosing capacity maximization strategies. In the latter case, the first firm gets maximum profit and second firm gets nothing. This decision depends on the objective of the firm. If the first mobile operator does not rely on cartel o does not have trust on second mobile operator, it may choose to maximize capacity. Capacity maximization would be optimal solution as it is profitable in long run. If firm can invest in improving mobile services and capacity improvement, it may get cost advantage in future for the expansion of business. Capacity maximization strategy gives the first mover dominant strategy. It is the optimal strategy for the first mover mobile operator. Even if both the firm takes simultaneous decision to maximize payoff, the Nash equilibrium would be the payoff 5 for both the firm. This will benefit both the firm. Therefore, it can be inferred that for all the mobile operators, capacity maximization along with bundling technique would be optimal solution. Conclusion The project analyses the optimal strategy of the mobile operators, who suffer from falling mobile plan price. With increasing demand for data plan and other services such as unlimited free call or SMS service. By providing such benefits to the consumers cannot make sufficient profit in long run. Low price discourages the mobile operator to provide service in long run. Therefore, it would be optimal to take decision for capacity improvement, which can help the mobile operator to provide better service in the market in long term. References Chung, H.L., Lin, Y.S. and Hu, J.L., 2013. Bundling strategy and product differentiation.Journal of Economics,108(3), pp.207-229. Derdenger, T. and Kumar, V., 2013. The dynamic effects of bundling as a product strategy.Marketing Science,32(6), pp.827-859. Kang, X., Zhang, R. and Motani, M., 2012. Price-based resource allocation for spectrum-sharing femtocell networks: A stackelberg game approach.IEEE Journal on Selected areas in Communications,30(3), pp.538-549. Katsoulacos, Y. and Ulph, D., 2013. Antitrust penalties and the implications of empirical evidence on cartel overcharges.The Economic Journal,123(572), pp.F558-F581. Manshaei, M.H., Zhu, Q., Alpcan, T., Bacar, T. and Hubaux, J.P., 2013. Game theory meets network security and privacy.ACM Computing Surveys (CSUR),45(3), p.25. Myerson, R.B., 2013.Game theory. Harvard university press. Rapoport, A. ed., 2012.Game theory as a theory of conflict resolution(Vol. 2). Springer Science Business Media. Shi, H.Y., Wang, W.L., Kwok, N.M. and Chen, S.Y., 2012. Game theory for wireless sensor networks: a survey.Sensors,12(7), pp.9055-9097. Stucchi, T., 2012. Emerging market firms acquisitions in advanced markets: Matching strategy with resource-, institution-and industry-based antecedents.European Management Journal,30(3), pp.278-289. Trestian, R., Ormond, O. and Muntean, G.M., 2012. Game theory-based network selection: Solutions and challenges.IEEE Communications surveys tutorials,14(4), pp.1212-1231.

Network Security and Access Control Internet Security

Question: You are a senior network security professional at your company. Your company has 150 employees. Each employee has his or her own terminal to access the companys network. There are also 15 wireless access points to support access for portable devices. You are charged with the task of assessing the current wireless network vulnerabilities and pointing out how threats can exploit theses vulnerabilities to launch security breaches. In addition, you are required to provide recommendations related to access control to reduce possible risks. Answer: Executive Summary This report deals with the internet security that are vulnerable towards attacks. There are several attacks such as viruses, worms, Trojan Horse, Payloads, Rootkits and Phishing that attack the network. In addition to this, the recommendations of these attacks such as use of antivirus, encryption and turning off identifier broadcasting are also discussed vividly. Introduction With the modernization of the internet, it has facilitated millions of employees, customers and business partners to get an easy access with each other. Hermann Fabian (2014) commented on the fact that the total organizations now days are totally dependent on the IT system for performing the work smoothly and effectively as well as to get a competitive advantage over other competitors. But with this access, the threats regarding the internet breaching has also increased considerably. The hackers and cyber criminals attack the websites, information systems as well as databases of the organization without even entering the organizations host country (Bradbury, 2010). This report will be dealing with the vulnerabilities regarding the wireless network and their ways of attack along with recommendations for reducing the effect of these attacks. Vulnerabilities regarding the current wireless network Viruses- These are the programs that affix themselves to the genuine programs on the machine of the victim. The viruses are spread through emails with attachments, file sharing programs from malicious websites. The virus programs targets the Operating Systems along with its applications for maximizing the damage. In addition to this Coppola et al. (2008) opinioned that through the network applications virus is also spread now days. Payloads- Barnes (2014) had commented that after the worms and viruses have propagated themselves payloads come into action that are the pieces of codes that damage the computer system. The payloads pop up the messages on the screen of the user that do substantial damage by clogging the network with high traffic and thereby shut down the internet. Trojan Horse- According to Farrell (2010) Trojan horses are also the programs that hide itself by erasing the system file and then taking up the name of the system file. They are difficult to detect since they look like the system files. Phishing- According to Karrenberg (2010) in this kind of attack, e-mails messages are sent to the victims that attack the computer system and gives out the sensitive information. The phishing attacks are the authentic looking emails as well as websites that are the major attacks. Rootkits- Rootkits are the programs that prevent the operating system from noticing their presence. Kociatkiewicz Kostera (2009) commented that these Rootkits generally attacks the root account that uses the privileges for hiding themselves. Ways that these vulnerabilities breach the security Denial of Service (DoS) Attack- According to Ramstetter, Yang Yao (2010) a Denial-of-Service attack happens when the attacker bombards a targeted access point continuously with failure messages, commands along with bogus requests. These kind of attacks that are prone to wireless networks. These kinds of attacks are totally based on the protocol abuse as per example Extensible Authentication Protocol (Yau et al. 2012). Here, the attacker attacks in such a way that it is unable to serve the legitimate users. These attacks are more prone towards the wireless networks. This attacks in such a way that a transmitter is set that covers the band where the wireless LAN operates. Teneyuca (2011) commented on the fact that this is done to ensure whether the transmitter is sufficiently powerful for overwhelming the weak. DOS attempts to make the server and network unavailable to provide service to the users by overflowing it with attack packets. Here, the internet hosts that include the clients , servers or both that flood the network and server with the attack packets (Kah Leng, 2015). Eavesdropping- Bradbury (2010) commented on the fact that wireless LANs broadcast network transfer into space where it becomes impossible to know who all are receiving the signals. As a result, the network traffic is subjected to eavesdropping as well as interception by the third parties. It is generally an unauthorized interception of a confidential communication that works on the real time basis. It is much easy to execute with IP based calls rather than TDM-based calls. It is a network layer attack that consists of capturing the packets from the network that is transmitted by others computers. Diagram regarding the network Figure 1: Network Structure (Source: As created by Author) Recommendations for reducing the risk Usage of Encryption- Coppola et al. (2008) commented that encryption is a modern way of securing the networks. In this process the wireless network are encrypted so that it is prevented from the outside intruders. Here, the plain text is transferred into cipher text by use of suitable algorithms. The receiver when receives the message decrypts it by using the secured key that is sent to the receiver by the sender. Turning off the identifier broadcasting- According to Yau et al. (2012) the wireless routers have identifier broadcasting which is necessary for sending out signals for announcing the presence. The hackers in order to hack and break the security, identifies the network and thereby attacks it. To prevent the hackers to identify the broadcasting, one should disable this mechanism in the wireless router. Using the antivirus, firewall and anti-spyware software- The antivirus, firewall etc. are need to be used for protecting the network from the virus attacks, worms, Trojan Horse etc. Teneyuca (2011) had opinioned that these also need to be installed and kept updated to protect the network from the attacks of the intruders. Downloads or surfing of unknown website also need to be reduced to certain extent for preventing the attacks of the intruders. Conclusion This report has dealt with the different kinds of attacks on network along with the procedure how the network is been attacked. In addition to this, the various ways of dealing these attacks are also discussed that help in protecting the wireless network to the maximum extent. The usage of this antivirus, firewalls and other measures helps the users I keeping the organization safe from the hands of the intruders. References Barnes, P. (2014). Using DNS to protect networks from threats within. Network Security, 2014(3), 9-11. doi:10.1016/s1353-4858(14)70030-3 Bradbury, D. (2010). A dogtag for the Internet. Computer Fraud Security, 2010(10), 10-13. doi:10.1016/s1361-3723(10)70132-9 Coppola, M., Jgou, Y., Matthews, B., Morin, C., Prieto, L., Snchez, . et al. (2008). Virtual Organization Support within a Grid-Wide Operating System. IEEE Internet Comput., 12(2), 20-28. doi:10.1109/mic.2008.47 Coppola, M., Jgou, Y., Matthews, B., Morin, C., Prieto, L., Snchez, . et al. (2008). Virtual Organization Support within a Grid-Wide Operating System. IEEE Internet Comput., 12(2), 20-28. doi:10.1109/mic.2008.47 Farrell, S. (2010). Why didn't we spot that? [Practical Security. IEEE Internet Comput., 14(1), 84-87. doi:10.1109/mic.2010.21 Hermann, S., Fabian, B. (2014). A Comparison of Internet Protocol (IPv6) Security Guidelines. Future Internet, 6(1), 1-60. doi:10.3390/fi6010001 Kah Leng, T. (2015). Internet defamation and the online intermediary. Computer Law Security Review, 31(1), 68-77. doi:10.1016/j.clsr.2014.11.009 Karrenberg, D. (2010). DNSSEC: Securing the global infrastructure of the Internet. Network Security, 2010(6), 4-6. doi:10.1016/s1353-4858(10)70080-5 Kociatkiewicz, J., Kostera, M. (2009). Experiencing the Shadow: Organizational Exclusion and Denial within Experience Economy. Organization, 17(2), 257-282. doi:10.1177/1350508409341114 Ramstetter, J., Yang, Y., Yao, D. (2010). Applications and Security of Next-Generation, User-Centric Wireless Systems. Future Internet, 2(3), 190-211. doi:10.3390/fi2030190 Teneyuca, D. (2011). Internet cloud security: The illusion of inclusion. Information Security Technical Report, 16(3-4), 102-107. doi:10.1016/j.istr.2011.08.005 Yau, W., Phan, R., Heng, S., Goi, B. (2012). Security models for delegated keyword searching within encrypted contents. J Internet Serv Appl, 3(2), 233-241. doi:10.1007/s13174-012-0063-1

Things Fall Apart Idea of Strong Essay Example

Things Fall Apart: Idea of Strong Essay Strength vs.. Values Strong and powerful Is controversial, because It defers person to person. Also, throughout generations and cultures, the definition has been modified. Usually, ones values are connected to their interpretation of strength. For example, my emphasis on my values are utterly different from Ginkgos values. The Bio culture developed their own idea of strength, American society has modernized it, and ones values may differ from anothers. Throughout Things Fall Apart, the buds Idea of strength Is Illustrated through the villagers and Coonskins thoughts. The ultimate result Awoken desired was prosperity, and when he spent seven years from his clan, he developed a plan to accomplish this. He would build a bigger barn than he had had before and he would build huts for two new wives. Then he would show his wealth by initiating his sons into the zoo society. Only the really great men in the clan were able to do this. Awoken saw clearly the high esteem In which he would be held, and he saw himself taking the highest title In the land (155). Awoken believed that being strict would build him respect, and only weakness thrived off of emotions. To show affection was a sign of weakness; the only thing worth demonstrating was strength (26). The Bio culture involved a lot of violence, therefore, being bold and war-like was being brave. But I have also heard that Beam people were weak and foolish. Why did they not fight back? Had they no guns and machete? We would be cowards Barman 2 to compare ourselves Walt n ten men AT Dame A villager Trot Mad man, Ginkgos clan, or Beam would be frustrated if they were placed in American society, mainly because power has a new significance. We will write a custom essay sample on Things Fall Apart: Idea of Strong specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Things Fall Apart: Idea of Strong specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Things Fall Apart: Idea of Strong specifically for you FOR ONLY $16.38 $13.9/page Hire Writer True American heroes use their morals to save others and support what is eight. They do not discriminate against gender or race, unlike the Bio society that treated men with more respect than women. No matter how prosperous a man was, if he was unable to rule his women and his children (and especially his women) he was not really a man (48). We all know that a man is the head of the family and his wives do his bidding. A child belongs to its father and his family and not to its mother and her family (121). Now, in America, a wife is determined by love, and not bargaining and money. Today, any person in America, the land of opportunity, an be educated and get a Job. In the Bio society, the only way to succeed was to be male and a good farmer, and Awoken followed this concept. Ginkgos values and mine relate to the cultures we live in. An important value to me is my education, because in America, the main way to thrive is to be erudite. Awoken strives to be a good farmer, because in his clan, yam stood for manliness, and he who could feed his family on yams from one harvest to another was a very great man indeed (30). His culture also valued possessions, although I try not to value them. Awoken wanted to be successful and be the opposite of his lazy father, Just like I want to be able to support myself when I grow older. Even as a little boy he had resented his fathers failure and weakness Awoken was ruled by one passion-to hate everything his father Knock had loved. One of those things Barman 3 was gentleness Ana another was Idleness ( By Dealing unsympathetic, Nils IT had been ruled by a great passion-to become one of the lords of the clan. That had been his life-spring (119). Ones values may determine their strength in their society. The Bio had their idea of strength, todays Americans have their own, and values change with generations and cultures. In the Bio society, for example, rich males had more respect, and in todays America, almost anyone can be a hero. Modernization, along with time and separation of ideas, has put the opportunity for power into many hands. For example, opportunity is given to the most able citizen in America, but in the Bio society, the door is closed to almost everyone. Ginkgos concern of being supreme and following his own values eventually drove him to suicide.

Business Management in Armenia

Business Management in Armenia Free Online Research Papers Abstract: The workforce of the 21st century is increasingly diverse and multicultural. Every society generates its own cultural values. It creates its own vision of the world to explain man’s destiny, and organizations and management systems compatible with that vision. To effectively manage and lead in this environment, business managers must be knowledgeable about cross-cultural factors-on both the domestic and global fronts especially in human resource management. This paper shows the importance of adapting training seminars and management methods of the Armenian cultural context. This means not only taking into account a different economic regime but also accounting for Armenian cultural values. 1 Introduction As a concept and as a reality, culture is broad and multifaceted. On a daily basis, culture influences who we are as individuals, families, communities, professions, industries, organizations and nationsand how we interact with each other within and across regional and national borders. Defined as a set of values and beliefs with learned behaviors shared within a particular society, culture provides a sense of identity and belonging. From language, communication styles, history and religion to norms, values, symbolism and ways of being, culture is everywhere. Companies are not managed in the same way in all countries. In order to predict what management style would emerge from the post-Communist era in Armenia, we had to gain some very practical knowledge about the concrete problems faced by Soviet company directors on one hand, and begin to examine the basic values which make up Armenian culture on the other. In domestic and global workplace settings, people in organizations reflect their respective cultures. As shifting demographics bring together people of many cultural backgrounds, human resource management (HRM) must be thoughtfully examined and sometimes altered to support organizational goals. SHRM Special Expertise Panel members point out that for sustainability, organizational leaders must expand their perspectives from a local to a worldly view. SHRMs 2008 Workplace Forecast highlights several trends in culture that will likely have a major impact on the workplace: 1) heightened awareness of cultural differences in domestic and global workplaces; 2) greater need for cross-cultural understanding/savvy in business settings; 3) managing talent globally; 4) greater emphasis on global leadership competencies; and 5) increased use of virtual global teams. Thus, HR professionals experienced in workplace diversity and cross-cultural communication are well-positioned to develop and implement culturally appropriate HRM strategies, policies and practices. While not exhaustive, this Research Quarterly focuses on selected cross-cultural factors in HRM in todays workplace and provides insights for HR to better serve the needs of the organization. With the advent of globalization, research on cross-cultural organizational behavior has become a pathway to understand the dynamics of multicultural domestic and international workplaces. In fact, successful organizations of the 21st century require leaders who understand culturally diverse work environments and can work effectively with different cultures that have varying work ethics, norms and business protocols. Yet, diverse cultures create HRM challenges. As Lisbeth Claus, Ph.D., SPHR, GPHR, associate professor of global HR at Willamette University, points out, that the HRM challenges lie between the various types of culturesthe cultures of emerging and developed countries and the growing heterogeneity of the workforce in terms of multiculturalism. Gaining cross-cultural competence takes time, education, experience, openness and sensitivity. When people lack intercultural skills, miscommunications can damage business relationships, deadlines can be missed, projects may fail and talented people will go to the competition. Key HR responsibilities are to understand how cross-cultural factors interact with HRM, be the conduit for organizational learning for cross-cultural intelligence and foster cross-cultural communication throughout the organization. Cultural Value Dimensions: Cross-cultural intelligence is the ability to switch ethnic and/or national contexts and quickly learn new patterns of social interaction with appropriate behavioral responses. This competence is essential to work effectively in multicultural environments. Thus, linking future career paths and global business success with cultural competence is important for HR to emphasize, with the goal that managers are motivated to acquire new behaviors and skills and understand the benefits of learning from different cultures. To become culturally competent, the first step is to have a solid understanding of ones own values and how they shape cultural identity. Within this process, it is also important to realize that different cultures often exhibit different values. There are 5 cultural value dimensions (according to Hofsted’s theory): 1. Power distance 2. Individualism/Collectivism 3. Masculinity/Femininity 4. Uncertainty Avoidance 5. Long/Short Term Orientation 1) High power distance indicates that hierarchy is important 2) Uncertainty avoidance is achieved by behavior that results in fewer unforeseen consequences 3) High-context cultures rely upon an internalized social context and/or physical environment (such as body language) and face-to-face communication for all or a large part of the message (e.g., indirect, subtle, ambiguous), whereas low-context cultures rely on direct messages (e.g., clear, stated in words, with emphasis on time management, punctuality and deadlines). 4) Collectivism refers to societies in which the group is valued over the individual and the individuals responsibility to the group overrides the individuals rights; individualism refers to societies that emphasize individual achievements and rights. 5) Long-term orientation indicates that cultural values are future-looking, including thrift, perseverance, humility/shame, and observe hierarchical relationships, whereas short term orientation values look to the past, such as respecting tradition. The culture of an organizations headquarters may highly influence the overall organizational culture. Specific factors determine the shape of corporate culture: 1) the relationship between employees and the company; 2) the hierarchical system of authority; and 3) the overall view of employees about the companys future, including its mission and goals, and their respective roles in the organization. (12) According to cross-cultural researchers and management consultants Fons Trompenaars and Charles Hampden-Turner, there is a link between corporate and national cultures. Organizations can be classified into four different ideal-types of corporate culture, based on their focus on tasks/relationship and the extent of hierarchy: 1) the family; 2) the Eiffel Tower; 3) the guided missile; and 4) the incubator. These models of corporate culture provide insights as to why HRM policies and programs differ. Building Business Relationships: Building optimal business relationships requires global fluency. Global fluency defined as facility with cultural behaviors that help an organization thrive in an ever-changing global business environment is a competitive advantage to establish and maintain good business relationships. To promote people working effectively with those of other cultures, cross-cultural training assists employees in becoming knowledgeable about cross-cultural communication in terms of their own cultural values, behaviors and assumptions, and those of other cultures. Cross-cultural communication also includes global business etiquette from greeting behaviors, exchanging business cards and toasting at business dinners to work attitudes, appropriate work attire and nonverbal communication. To not cause offense, it is helpful to be aware of differences in greetings, such as the handshake. Another differing communication style is the use of silence, a form of nonverbal commun ication. In high-context cultures, such as in Asian countries, silence indicates thoughtfulness in decision-making. In contrast, people in low-context cultures, such as the dominant culture in the United States, are uncomfortable with silence and tend to fill the void with small talk, such as comments about the weather. People establish rapport in accordance with their cultural values. Based on social capital theory and the importance of social networks, a recent study explored intercultural communication strategies for business relationship building through interviews with business executives in Armenia. The findings indicate that building a business relationship is defined within the socio-cultural and economic contexts of the respective cultures and that depending on the culture, different strategies are used to build and maintain business relationships. The following mini-case study demonstrates a success story from the viewpoint of the Armenian culture. 2 Case Study: The Armenian Story A senior manager works at an Armenian company that sells a broad array of products (groceries, liquor, durable goods) and describes his philosophy about relationship building with an example from his company: As he says to successfully achieve our business goals, establishing and maintaining relationships with distributors is an essential strategy. Some of our customers are large firms, managed by graduates from the elite university I attended. This link creates strong networking opportunities. Once this connection is made, it is critical to invest time in this relationship, and I always counsel my subordinates on the importance of relationship building. One employee in particular is very good at maintaining relationships. He works hard to do so, even going to the airport or train station without prior arrangement to meet clients upon their arrival, once at 5 a.m. This effort shows that he is sincere and demonstrates how far he will go to maintain this valuable relationship. This personalized service adds to our commitment to nurture a long-term business relationship. Effective cross-cultural communication is necessary to build and maintain business relationships. To support their organizations, HR professionals can develop HRM practices and policies that promote cross-cultural training and reward managers for their part in educating employees on effective cross-cultural communication. 3 Methodology Analysis and identification of basic values prevailing in Armenian society was made by international consultant. After having gained some insight into the country’s mentality was determined what type of business management would evolve. This article deals with the findings of the second of these investigations. They are the result of a small study carried out in Armenia among 55 executives and directors in training at the HCYS in Yerevan. The questionnaire used in this research was based on Hofstede’s studies examining company executives’ and directors’ cultural values, which included 116,000 questionnaires in 20 languages, administered in 72 countries across five continents. The methodology used and detailed results for all the countries surveyed may be found in the book Culture’s Consequences. 4 Results 4.1 Position of Armenian culture in four main cultural values 4.1.1 Power distance: This perception varies a great deal from country to country, and so the concept of power distance is an important key to identifying differences between them. Armenia rated 76, placing it among the countries with high power distance. This score is as high as, India, Sub-Saharan Africa and a little higher than France (68). By way of comparison, the US scored 40 and Scandinavian countries have an even lower rating (e.g. 30 for Finland). This value constitutes a permanent part of Armenian mentality. One of the findings of investigation is that 42 per cent of our interviewees’ direct superiors are described as autocratic and 22 per cent as paternalistic. 4.1.2 Uncertainty Avoidance: The measure of uncertainty avoidance is in direct proportion to the degree of freedom in the country. Anxiety leads to accepting ways of limiting uncertainty, which in turn leads to accepting restrictions on individual liberty. Numerous observers have recorded the Armenian need to control uncertainty. According to the survey, Armenian executives display a high level of anxiety about the future which manifests itself in a tendency to be nervous, emotional and aggressive. Armenia has a similar rating to France (86) on uncertainty avoidance. It is therefore not surprising to find that 78 per cent of Armenian executives questioned say that they feel â€Å"constantly† or â€Å"often† tense or strained at work. Job stability is uppermost in everyone’s mind: 66 per cent hope that they will continue to work in their present company for more than five years or up until retirement. 4.1.3 Individualism: Today, there are both collective societies who value time spent within the group and individualist societies who value time spent by individuals in their personal lives. With a factor of 26, Armenia falls into the groups of countries with a collective mentality. How things are done in business is related to this dimension. For example, in a country with a collective mentality, employees expect their firm to take care of them like a family does. In countries with a more individualist mentality, the company does not get involved in the personal lives of its employees. In the Soviet system, the main role of a factory director consists of looking after the workers’ situation: building housing, managing shops where workers can find products unavailable elsewhere, organizing children’s playgrounds, looking after the medical centre and sending workers on holidays in company owned apartments. Managing a business is based on loyalty and a sense of duty, and decisions are made on the basis of personal relationships with managers. 4.1.4 Masculinity: Armenia (although this certainly varies greatly from one region to another) is in the same group as Scandinavian countries on this dimension, it scores 28. 4.2 The implicit consequences for management systems in Armenian organizations While management style overall is implicitly influenced by a country’s culture, there are three important areas where it is explicitly at work: (1) Appropriate management style. (2) Motivation. (3) Implicit organizational structure. 1. Appropriate Management Style: Appropriate management style is dictated by subordinate expectations. A typology of management styles is established by crossing countries’ power distance ratings and individualism ratings. The Armenian research showed high power distance and strong collective mentality. In this type of culture, employees expect an autocratic management style, offset by the support given to the subordinate’s family. Therefore, a system of management by objectives, which presupposes the confidence and independence to negotiate with one’s boss, a shared desire among bosses and subordinates to take risks and a desire to achieve, is incompatible with Armenian culture. 2. Motivation: We obtain a typology of motivations by crossing the masculinity value with uncertainty avoidance. In this respect, Armenia is similar to France. For this group of countries, security and a sense of belonging are the strongest motivators. Group solidarity is even more important than individual wellbeing. Today’s Armenia is fundamentally reactionary, in the sense that the priority is to protect achievements, rather than take risks in an uncertain future. 3. Implicit Organizational Structure: The organizational structure of companies differs from one country to another. Once again, two cultural values can help explain the differences: The power distance rating explains the degree to which decision-making is centralized in a country: the more pronounced the power distance is, the more likely it is that power will be centralized. The uncertainty avoidance rating is an indication of how companies perceive and control their environments. Controlling uncertainty can explain the extent to which roles are formalized in a firm. 5 Conclusion In practice, the implicit organizational model found in Armenia is the same as that found in Japan or in France. High power distance combined with high uncertainty avoidance gives rise to a pyramid-shaped bureaucratic structure, which is both formal and centralized. Work procedures and the relationships between individuals are formally established, either through strict regulations and laws, or through custom and tradition. All of the above basic information should be taken into account when defining the structure of new Armenian firms and developing internal processes. References (1) Bodley, J. H. Cultural anthropology: Tribes, states, and the global system (3rd edition). United Kingdom: Mayfield Publishing Company. 1999, 154 189 (2) Society for Human Resource Management. Glossary of human resources terms. Retrieved, 2008 (3) Gelfand, M. J., Erez, M., Aycan, Z. Cross-cultural organizational behavior. Annual Review of Psychology, 2007, 479-514. (4) Hofstede, G. Cultures consequences: International differences in work-related values. Newbury Park, 1980, 89 134 (5) Alon, I., Higgins, J. M. (2005, November/December). Global leadership success through emotional and cultural intelligence, Business Horizons. 2005, 501 542. Research Papers on Business Management in ArmeniaAssess the importance of Nationalism 1815-1850 EuropeAnalysis Of A Cosmetics AdvertisementInfluences of Socio-Economic Status of Married MalesAnalysis of Ebay Expanding into AsiaRelationship between Media Coverage and Social andBionic Assembly System: A New Concept of SelfDefinition of Export QuotasOpen Architechture a white paperThe Project Managment Office SystemPETSTEL analysis of India

Summary and response for Seaman,, How Bingeing Became the New College Essay - 1

Summary and response for Seaman,, How Bingeing Became the New College Sport - Essay Example The drink age has been fixed at 21 in order to avoid alcohol poisoning and accidents related to driving under alcohol influence. By keeping the drink age at 21, the government was succeeded in reducing unfavorable incidents related to underage drinking. But such restrictions resulted in the development of an unintended culture around prohibited alcoholism among the youths. For many American youths, college life is not only for learning alone, but for starting drinking also. The earlier beer culture in college campuses has given way for hard liquor now. Many universities have reported that there is no problem in lowering the drink age to 18 years. Montreals McGill University, which enrolls about 2,000 American undergraduates a year reported that many of the students when they first arrive at the college campus were exploiting their ability to drink legally. â€Å"But by midterms, when McGills demanding academic standards must be met, the vast majority has put drinking into its practi cal place among their priorities† (Seaman). In short, Seaman argues in favor of lowering the drink age to 18 in America. I agree with the arguments of Seaman. If a person is matured enough to select the administrators of a country, then he should be matured enough to control his emotions or feelings even under the influence of alcohol. Maturity cannot be limited to one aspect alone. It is a general thing. Maturity of a person can be visualized in all the aspect of his family, social and political life. It is difficult to believe that a person, who has maturity in electing a government, doesn’t have maturity in his personal or social life. It is a fact that when we restrict something to the children, they may develop more tendencies to break the restrictions. The stigma associated with underage drinking is a motivating factor for the youths to break the law.

Hospitality Industry Placement Subject Assignment

Hospitality Industry Placement Subject - Assignment Example During my tenure within the workplace for the past 1 year, my prime aim has been to ensure friendly along with competent food and beverage related service which leaves up to the expectations of the guests at this well-acclaimed restaurant. The Chinese restaurant i.e. Iron Chef in situated in Cabramata, NSW Australia. I had obtained the scope of performing the assigned job role during the course of doing Bachelor of Business major in hospitality (2012-2013). Within the course I have come across, a number of concepts such as customer relations, systems and procedures, human resource responsibilities along with health & safety. Subsequently, the provided learning experience during placement has facilitated me to attain hands on experience regarding these academic notions. With these understandings, the report is being submitted with an aim to integrate the real workplace experience with the academic learning. 2. Description of the Organisation Iron Chef Chinese Seafood Restaurant is a p opular seafood restaurant in Australia. It delivers around 200 varieties of dishes to the customers (Iron Chef, n.d.). It has different luxury private dining rooms, each with unique themes and styles. Each room is decorated and is constructed with art audio and visual facilities. In this restaurant, all the offered dishes are very delicious and attract a lot of guests who are primarily seafood lovers. The offered delicious foods come in a variety of flavours. The restaurant also offers the facility to arrange certain occasions such as wedding, and birthday party among others (Iron Chef, n.d.). Despite the fact that the restaurant offers an exclusive location for the guests with high quality seafood,... It has been observed that Iron Chef is one of the leading Chinese Seafood and eco-friendly restaurants of Australia which offers special dishes for the Chinese people but it also offers certain local dishes for the residents of Australia. All the dishes of Iron Chef are delicious and the rooms of the restaurant are well-furnished and decorated, moreover it also has some luxury facilities. Despite the fact that the restaurant has been quite successful to meet the ever-evolving challenges in the Australian marketplace, it needs to focus on ensuring a greater visibility of the restaurant amid the global consumers. Iron Chef can provide greater focus on marketing and promotional activities to draw major consumer base. In addition, it also needs to render greater emphasis on training and development activities of its managerial level and supervisory level employees. Another factor which needs to be considered is inventory management which could enable Iron Chef to minimise its overall ope rational expenses by a considerable extent.