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Gross Domestic Product and the United States Essay

Total national output, or GDP as it is generally alluded to just like, a famous monetary methods for estimating how huge a nation or area’s economy is. Despite the fact that surfacing the a genuine figuring for the full expansiveness of a country’s monetary ability is troublesome and very included, this is one method of establishing that for the premise of correlation with different nations. When all is said in done, this is a framework that takes the aggregate sum of the entirety of the products and enterprises that are rendered in a nation during a given time period and joins them to make the last number. Despite the fact that the real count is substantially more entangled than that simple clarification, the fundamental reason behind total national output can be clarified in that basic style. There are a wide range of estimations that go into deciding the total national output of the United States in 2006. As per measurements gave by the United States Central Intelligence Agency, the number that was determined for the U. S. Gross domestic product in 2006 was evaluated at $13. 06 trillion (CIA). That number was determined dependent on various elements, which will all be talked about underneath. One viewpoint that goes into making the total national output figure is the utilization work. To be compact, this is the number that shows across the board shopper spending in the United States. As indicated by data created by the financial aspects office at Baylor University in Waco, Texas, the utilization work is, â€Å"The connection between the degree of salary in an economy and the sum family units intend to spend on utilization, different things constant† (Baylor). It is determined as a piece of the GDP recorded previously. As per measurements put out by the Bureau of Economic Analysis in the United States, the all out customer utilization during 2006 was $9. 2 trillion (BEA). Another part of total national output that is determined is the administration work. This is the measure of utilization that the administration represents in understanding to the GDP insights. As indicated by the 2006 GDP report put out by the BEA, the administration work was $2. 2 trillion during 2006 (BEA). That sum is at last included with the remainder of the consumptions of the country so as to concoct the last GDP number. The speculation work is something else that goes into the figuring of total national output. As per a similar data set forth by Baylor University, the venture work is, â€Å"The connection between the sum organizations intend to put and the degree of salary in the economy, different things constant† (Baylor). The United States economy has seen this number change a lot during the most recent couple of years. In 2007, it has been down in contrasted with earlier years. It added to the 2006 total national output measurement with various $2. 2 trillion, as indicated by the (BEA). That number is a solid one when contrasted with different years for the U. S. economy. Total national output likewise considers how much the U. S. economy sends out during the year. Despite the fact that there are loads of various estimations that go into thinking of the net fare work, one last computation is given by the BEA report for 2006. Net fares during 2006 totaled negative $762 billion (BEA). The current financial pattern has this number heading further down, as it was lower than the past three years. This number implies that the U. S. is bringing in unmistakably a bigger number of merchandise than it is trading, a sign that assembling in the United States is traveling the method of the dinosaur. That number should keep on sinking, as the U. S. makes more exchange associations with nations and imports an ever increasing number of merchandise sooner rather than later. Overall, the U. S. economy is delivering a decent measure of items and administrations. The parity that exists between the installments and the degree of trade appear to be consistent. All things considered, the economy has developed to a tremendous size that looks to just be getting greater as an ever increasing number of American organizations extend their abilities both in the U. S. furthermore, abroad. The economy has a few issues, yet size isn't one of them. The creation of administrations and items in America is solid when contrasted with the measure of consumptions, despite the fact that shopper obligation is taking steps to gobble up the excess. With regards to GDP development, there are various variables that can control a push ahead. Contingent on the country and the time in which GDP is being estimated, many factors could compel the development of the economy. For instance, the second from last quarter 2007 numbers for the American economy demonstrated exceptionally solid financial development. Actually, the total national output developed by a yearly pace of 4. 9% during that second from last quarter, up generously over both the first and second quarter timespans. As indicated by a news discharge from the BEA entitled, Gross Domestic Product: Third Quarter 2007 (Preliminary), â€Å"he increment in genuine GDP in the second from last quarter fundamentally reflected constructive commitments from sends out, individual utilization consumptions (PCE), private stock venture, hardware and programming, government spending, nonresidential structures, and state and nearby government spending that were halfway counterbalanced by a negative commitment from private fixed investment† (BEA). The report proceeded to state that the development in GDP during the quarter was to some degree smothered by an expansion in imports, which clearly represent a negative count in the GDP condition. On an increasingly close to home level, there are many things that people can never really get themselves out and help the American economy proceed with its development. These things are delineated beneath. The above all else thing that Americans can do so as to help develop the U. S. Gross domestic product is to be progressively profitable. Since the economy develops based on the amount of administrations and items are delivered, any knock in profitability on an individual level will prompt further creation for large organizations and independent companies the same. This is valid for individuals who work for a huge company, just as the individuals who may possess their own business. People can indeed do a limited amount of much in improving the GDP, so it requires an aggregate exertion in expanded profitability to raise the number a significant sum. Notwithstanding that, individuals being more brilliant with their cash will enable the total national output to rise. Purchaser uses hurt the total national output and individuals that squander their cash paying credit money charges are not successfully help themselves. More intelligent sparing plans and speculation arranging can assist people with developing their cash and assist organizations with creating more on a national level. At the base of those things is an expansion in hard working attitude for singular laborers. On the off chance that individuals start to take work and their budgetary future all the more truly, at that point they can all the more likely produce. Since an expansion in hard working attitude has an immediate relationship to the expansion underway, GDP is profited by an expansion in the American hard working attitude. Training is assisting with boosting the GDP, also. The American individuals are a profoundly taught gathering, when contrasted with different territories around the globe. Instruction enables an individual to work in a business setting and help their organization develop their creation. Since a spotlight has been put on training in the Untied States, the total national output has seen huge development. A result of instruction is assuredly entrepreneurialism. With an ever increasing number of people getting advanced education and learning the fundamental abilities to go into business, there exists a bigger number of Americans who are happy to work for themselves. On the off chance that they apply a solid hard working attitude to oblige their training and their recently discovered innovative nature, they can without any help improve the American GDP. Beside what people can never really improve the total national output, the central government has a great deal of authority over what occurs with the GDP. A solitary choice on a money related approach can change the way that the U. S. economy works during the coming year and can help invigorate the economy into more creation. Moreover, a flaw financial strategy can serve to hinder the advancement of monetary development. A 2000 article in AllBusiness stresses over this. In his article, Tao Zha composes, â€Å"When the government open market board of trustees (FOMC) started bringing loan fees up in June 1999 to hinder inflationary weights, concern mounted that money related strategy moves may slow the pace of financial development, fixing the business picks up minorities and other distraught gatherings made during the 1990s† (Zha). In that capacity, the central government needs to secure its own advantages by they way it chooses to shape monetary arrangements for what's to come. Universal strategy can likewise impact GDP development. Since such an extensive amount the economy’s development relies upon the amount it can deliver and send out, the administration must be mindful so as not to break any binds with worldwide governments. Also, the U. S. government should consistently take incredible consideration not to disturb any connections that the country has with nations that give things that the American individuals must have. One case of this is with oil, as American arrangement is formed to not upset any working associations with nations that give oil. Other financial choices can impactsly affect the total national output and its ensuing development. So as to proceed with the positive development that the GDP has found as of late, Americans essentially need to continue doing what they have been doing. Solid patterns in training and a rise in hard working attitude are acceptable finishes paperwork for financial development. Also, more measures must be taken to keep joblessness rates low, as the more individuals that are working, the more creation organizations can have. Notwithstanding boosting training on an essential level, the national government ought to do m

Economics & study Essay

Financial matters is the investigation of how people utilize rare assets to fulfill their necessities (Lee, et al). There are various ideas that are related in learning financial aspects. These incorporate constrained assets, opportunity cost and exchange offs among numerous different variables of thought. To comprehend and have the option to settle on insightful choices in the buying of any great and administration, one should better comprehend these ideas of financial matters. They are likewise basic in the creation of merchandise and enterprises which is the essential point of contemplating financial matters (Salaman, 1). Cash and time are assets that are limited (Lee, et al). They are in this way called restricted assets. A rare asset is an asset that has an appeal and consequently legitimate dynamic is expected to guarantee that they are utilized ideally. Financial aspects includes the dispersion of assets so they can fulfill singular needs. Cash is rare on the grounds that it is restricted in gracefully and in this manner it ought to be utilized astutely to fulfill human needs (Lee, et al). For example, if an individual has $ 500 in the pocket, he will decide to pay for his lease as opposed to purchasing lager for himself. Time then again is a financial asset and one needs to choose well on what to do at a specific time and what to do at different occasions. In our day by day lives, we regularly settle on choices that sway the acquisition of products and enterprises. These choices rely upon what our needs are and what are the assets that are at our proposition. Settling on choices in financial aspects is an extremely essential stage with regards to buying of products and ventures (Salaman, 1). An individual should settle on a choice that the individual won't lament when the rare monetary asset runs out. To settle on a decent choice, one should see a few ideas in financial aspects like the value hypothesis. Value hypothesis causes one to comprehend the costs of items that are in the market. At the point when one comprehends the value hypothesis, the person can settle on the right choice on what to purchase at what cost without bringing about numerous misfortunes. Opportunity cost results after cautious dynamic (Lee, et al). It is the cost which is proportional to the estimation of the best elective that an individual forfeits in accomplishing something different. By settling on a decision in whatever an individual does throughout everyday life, the individual must cause opportunity cost. It can either be a minor advantage or a minimal expense. For example, an individual may have options of either joining a bosses program or getting utilized in an organization paying him $ 100,000. On the off chance that the individual chooses to go for the experts program, his chance cost will be $ 100,000. Minimal advantage is characterized as the advantage that is got by including one additional unit in the degree of movement (Lee, et al). Negligible expense then again is the additional expense caused by including an additional unit in the degree of movement. By and large, since all buyers are thought to be levelheaded, they will in general limit peripheral expenses and augment minor advantages. The distinction between the two gives the net advantage. Exchange offs then again is firmly identified with circumstance cost in spite of the fact that it reallocates the measure of time or cash to be spent (Cage). This infers there is that cash that is saved for spending on possibly house costs. By purchasing less of what isn't really significant and purchasing a greater amount of what is important, one will have caused an exchange off. It includes reallocation of cash or time from what had been moved toward (Cage). All in all, the investigation of financial matters causes people to decide on the kind of decisions they are to make in their day by day lives. Settling on what great or administration to buy may call for one to comprehend the ideas of shark cost, exchange offs and above all, have the information on the rare assets that are accessible to the person in question. Works Cited: Cage, Michael. The separation exchange off and advertising to values. 2010. Web July 14, 2010 from http://www. entrepreneurslife. com/musings/section/the-separation exchange off-and-advertising to-values/Lee, Kylen, et al. The degree and strategies for financial aspects. September 17 2006. Web: July 14, 2010 from http://www. econguru. com/introduction_to_economics/scope-strategy. html Salaman, Graeme. Dynamic for business: A peruser. London: SAGE Publication Ltd, 2002.

Personality at Selection Interview Free Essays

string(57) tests to gauge character are developing in popularity. Task †Personality can be characterized as those moderately steady suffering parts of a person that recognize him/her from others and simultaneously structure a reason for our forecasts concerning his/her future conduct. (Wright et al refered to in Rollinson 2005) This definition speaks to the view that it is conceivable to recognize a people steady and perpetual character and qualities, and that if the attributes are distinguished they can be utilized to anticipate the people future conduct. Associations contrast extraordinarily in their societies and worthy practices which implies that a few people normally fit in superior to other people. We will compose a custom article test on Character at Selection Interview or on the other hand any comparable subject just for you Request Now (Rollinson 2005:85) Job jobs themselves likewise vary regarding the reasonableness of an individual’s character in being effective in that activity job. Along these lines in deciding the significance of character at determination talk with we have to figure out what both the job and the association require. (Rollinson 2005:85) In the workplace the â€Å"fit† of an individual must be directly regarding aptitudes and experience just as qualities and necessities. Holbeche: 2002). Individual association fit alludes to the degree to which people and associations share comparable attributes (characters) or meet every others needs. The evaluation of character is completed to decide alluring or un-attractive characteristics of contender to survey their reasonableness for a job or potentially association (Arthur:2005) Getting this privilege can prompt employment fulfillment and authoritative duty. (Kristoff:2000) When a business is enrolling the mental agreement has some signifi cance. The mental agreement suggests a progression of common desires and fulfillment needs emerging from the P-O relationship (Mullins:2010) P-O fit is probably going to be a higher priority than P-J fit in fulfilling the mental agreement (Morley:2007) in that workers will be required to adjust to changes in undertakings and addition new aptitudes. It is contended that more noteworthy accentuation ought to be put on the P-O fit instead of the more conventional technique for P-J fit in light of the fact that right off the bat people will hold a few jobs inside an association in this way their P-O is a higher priority than the conceivably less lexible P-J fit, they will hold the associations esteems and culture nearer and will have longer help along these lines bringing down enlistment costs. (Ree and Earles 1992) Secondly the changing idea of work expects people to be better at collaboration and progressively adaptable. I accept that when selecting graduates P-O fit is increasingly significa nt rather than P-J fit. Graduates are enlisted to give associations a potential pool of future chiefs and improve progression prospects. Morley:2007) Graduates have little involvement with the workplace so are less ready to interpret their abilities, capabilities and experience into the working scene. In the event that a business has an away from of their associations culture, characters of different representatives and can precisely decide the characters and convictions of the alumni they can put together their choice with respect to the alumni energy, inspiration and enthusiasm to work as opposed to aptitudes, capabilities and experience. In an investigation by Wheeler et al (refered to in Rollinson 2005) it was secured that position fulfillment could be expanded by expanding P-O fit, that is enrolling workers with comparative qualities to the association. Be that as it may, Wheeler additionally found that despite the fact that an evil fitting individual brought about occupation disappointment, they would not leave the association except if appropriate elective work introduced itself. This could prompt them being de-roused, having lackluster showing and effect on associations with partners. This shows the significance of getting character directly at choice meeting. Individual occupation (P-J) fit alludes to the relationship between's the individual’s abilities, capabilities and involvement in the prerequisites of a vocation. (Edwards:1991) and is a conventional technique for worker determination (Werbell and Gilliland:1999) P-J fit is most generally decided through evidence of a people abilities, capabilities and experience through testaments and references and addressing around their insight on a point. I have by and by heard associates question the significance of character on certain jobs, for example, bookkeepers which would at first strike you as being weighted intensely on their aptitudes, experience and capabilities anyway how well would a bookkeeper perform in the event that they didn't have the character characteristics to discuss successfully with partners and clients? Contrasting jobs do likewise require various characters so as to be effective independent of the association. Receptionists, sales rep or client assistance delegate require the capacity to adapt to pressure and manage people with contrasting needs. Gatewood et al:2005) In considering the significance of character in determination talk with it is reasonable to consider how steady and perpetual a person’s character is. It is safe to say that we are seeing a present depiction of the people character or will it change additional time? Rollinson (2005) composes that if character is a continuous creating pro cess it would be practically difficult to create substantial approaches to gauge it and would be inconsequential in endeavoring to anticipate future conduct. Idiographic, one of the two significant hypotheses on character, centers around character creating and changing because of progressing encounters. In any case, Costa and McCrae (1992) composed that character is generally steady after the age of 30 along these lines utilizing character in settling on choice choices would be conceivable because of the strength of character. Taking a gander at Nomotheic hypothesis, the other of the two significant speculations of character, which accept character is steady and un-transforming, it was noticed that there are 5 unmistakable contrasts between individuals known as the Big Five and regularly alluded to as OCEAN. These are: †¢ Openness (keen, modern, educated, refined, aesthetic, inquisitive, expository, liberal attributes) †¢ Conscientiousness (reasonable, wary, genuine, solid, sorted out, cautious, trustworthy, persevering, eager qualities) †¢ Extraversion (friendly, loquacious, dynamic, unconstrained, brave, individual orientated, self-assured characteristics) †¢ Agreeableness (warm, trustful, affable, pleasing, helpful attributes) †¢ Neuroticism (passionate, restless, burdensome, reluctant, stressing attributes) The Big Five can be part into type hypothesis and quality hypothesis. Mullins refers to Hans Eyesneck work in which he recognized four principle character types. These are steady extraverts,(talkative, responsive, nice, vivacious joyful) unsteady extraverts,(impulsive, variable, edgy, anxious) stable self observers (quiet, calm, tranquil, insightful) and temperamental thoughtful people. (on edge, testy, held, negative) Mullins composes that in the event that chiefs can foresee future practices through an individual’s character type, at that point it isn't astonishing that psychometric tests to quantify character are developing in fame. You read Character at Selection Interview in class Papers Attribute hypothesis is then separated again into surface qualities (those which are noticeable) and source characteristics (which must be deduced) In principle surface characteristics could be seen through evaluation places. Mullins composes that the Big Five structure the premise of standard character surveys and of these five reliability has the most noteworthy connection with significant levels of employment information and execution over a scope of occupations. Along these lines, as per this, it is gainful to an association to decide candidate’s character so as to select a person who has a decent score in scruples. Nonetheless, Maltby et al (2010) composes that if we somehow happened to utilize the principled individual with their pragmatic, mindful, genuine, solid, sorted out, cautious, reliable, dedicated and eager qualities, would they be reasonable for a job requiring development and inventiveness and would they say they are adaptable and versatile to adapt to the quickly changing universe of work? He addresses the relevance of reliability over all employment jobs. In considering the effect of character on our relationship at work with associates I accept that enthusiastic knowledge has a solid connection with adjusting character to fruitful execution and connections at work. Passionate Intelligence is characterized as a person’s capacity to oversee themselves just as their relationship with others so they can live their aims (Adele:2008:7) and can be separated into five explicit regions. These are Self mindfulness, sympathy, social expertness, individual impact and authority of direction and vision. Every one of these zones could affect our associations with partners. Mindfulness is a comprehension of how our practices or words influence others. On the off chance that we have mindfulness we can put forth a concentrated effort control to change our activities should they negatively affect associates. A mindful individual would know when their state of mind is affecting on others and modify it as needs be. Mindfulness is a territory searched for in the enthusiastic insight of sales reps and meeting addressing based around the effect of past understanding of their positive and negative effects on colleagues would be helpful in distinguishing this region. (Adele 2008:17) Empathy is a comprehension of others emotions and viewpoint and the capacity to encounter what another person is feeling consequently giving a superior comprehension of our partners. It is the capacity to consciously listen as opposed to tuning in to invalidate or fabricate our own case. A client assistance repr

Customer Profiling Using the Empathy Map

Customer Profiling Using the Empathy Map © Shutterstock.com | Dima SidelnikovIn this article, we look at 1) where product development should start, 2) the empathy map, 3) the elements of an empathy map and 4) a case study of eStudent.WHERE PRODUCT DEVELOPMENT SHOULD STARTMost successful organizations have a strong focus on customer research but fail to incorporate their customers’ perspective in the product design and even the business model design stage of the business. A smart way to go about business model design is to view it from the lens of the customer. It can lead to discoveries and insights which could help the company gain an edge in the competitive market for customer mindshare.Apple is a classic example of incorporating customer needs into product design. When Apple launched its first of its kind iPod, the market for music players was relatively low, and illegal downloading of music was the norm. The conditions were discouraging for launching an application that required consumers to buy their music online. H owever, Apple had cottoned on to a key customer gain; a singular medium on which they could sync and access all of their digital content. By providing such a medium, Apple launched itself into the stratosphere as one of the leading technological companies in the world with a dedicated customer base.Major companies invest a significant sum on attaining insight into the social and psychological makeup of their customers through employing teams of anthropologists and sociologists. However, they do so just for creating a customized product or service design. They may also find it lucrative to incorporate these experts when designing the business model for their company. Customers’ insights can be especially impactful on value propositions, distribution channels, customer relationships and revenue streams.The approach asks for a shift from an organization specific perspective to a customer-centric approach. Companies have traditionally myopically considered what it wants to sell the cu stomers, how they can be reached with the minimal expenditure of resources, the nature of relationship the company wants to form with the customer, and how it will earn money from its targeted customer segment. Conversely, the customer-centric approach demands that the company focuses on the jobs the customer needs to be done or his or her aspirations and how the company can help them achieve both. They must evaluate how the customer wants to be reached, for what value they are willing to pay and the kind of relationship they want to form the company. The company must also be cognizant of what customer segment to target. Most might invest in targeting their current or traditional customer segment, but they must not overlook the possibility of upcoming segments and methods of targeting them to improve their market shares.Do you know your customers?When an entrepreneur is asked who his customer is, it is easy to get lost in targeting everyone that their product or service would appeal to. Direct and indirect consumers are invariably linked to the business because the entrepreneur is trying to think big. However, it is crucial for the efficacy of the process to commence the discussion with who the business’ most important customers are and work from there. Starting the discussion from there, the entrepreneur must then evaluate what kind of pains this segment has, who these people are and why they would buy from your business over other solutions available in the market. Creating an empathy map for this most important customer has a twofold purpose. It helps you mold your value proposition towards the customer who will pay for it and whittle away the unnecessary things. It will also help you map out what kind of customer relationships to foster with this segment and the tactics required to create these relationships.How to discover your prospects world viewEvery person has a unique world view; a detailed descriptive model of how they think the world works. Tappi ng into your most important customer’s world view could mean deep insights into their wants, needs and psychology for your business.A world view typically dictates the answers and reactions to the following questions;What should I do next?What is truth and what is false?What actions should I take to reach my goalsHow can we make others understand our intentions?There are many actions one can take to hack into their target customer’s world view; taking interviews, reading comments on the blog of your website,   and utilize other online media where your consumers are likely to post opinions and views such as Amazon reviews, blogs, social media, etc.Difference between worldview and personasEntrepreneurs often mistake a world view with a persona because both concepts seem to overlap. However, persona refers to a group of people who have similar consumer behavior patterns i.e. regardless of their demographics they share buying patterns, their usage of customer services are similar, a nd they have similar behaviors, motivations, and attitudes.A world view on the other hand highlights why a consumer has these behaviors, attitudes and motivations as well as the reason behind their buying behavior. Hence, a world view is the foundation of the persona.THE EMPATHY MAP Most of the examples quoted here refer to major companies with the resources available to hire and utilize teams of sociologists and anthropologists to help them understand their customers’ world views. However, a new business rarely has the capital available to invest in consumer research at the same level. An equally effective yet much more wallet friendly approach could be to use visual thinking company, XPLANE’s empathy map to understand your consumer segment. Any good product, service or design is only good if it matches what a customer desires in the product. Hence, to understand what the customer wants, we can use the empathy map, one of the most simple consumer profiling tools available online. This tool allows us to move beyond the typical metrics of demographics and delve deep into the consumer psyche by understanding their environmental context, their emotions and reactions and their future goals and priorities. All this information will help a new business develop sou nder, more appealing value propositions, focus on a type of relationship which suits the customer and invest in distribution channels which match customer preferences.In short, effectively defining your customer’s world view and persona helps accomplish the following goals;Creating a more streamlined and focused strategy;Reaching your customer in a more rewarding way;Gaining insight into how your customer thinks;Identifying and employing the winning tactic when faced with a customer negotiation;Creating more attractive value propositions.What is Empathy?It is an irrefutable fact that customers who feel that a company genuinely cares about them will be more loyal. To ensure that customers buy into this emotion, an organization must display empathy in all of its dealings with its customer segments, including at the product or service design phase. The following two definitions explain the meaning of empathy in this context;The intellectual identification with the feelings, thoughts or attitudes of another;The vicarious experiencing those feelings, thoughts or attitudes.People often confuse empathy and sympathy. Sympathy is the feeling of sorrow or grief you feel for another’s misfortune, but you remain external to the situation. On the other hand, empathy occurs when you place yourself in the other person’s shoes and immerse yourself so completely in their world view that you feel the way they feel.Empathy map basicsSegment your customersThe first step is to group your consumers into distinct segments based on their demographics and personas. Once these segments have been created you need to prioritize your top three most lucrative segments.Humanize your segmentOnce you have your top three segments, you need to make them real, relatable people in your mind. This can be done by assigning fake names and building an entire person through adding details such as their age, educational level, income etc. in this way it becomes easier for you to empathize with th is representative of your segments.Empathize with your segmentIn a team put your representative from each segment on an empathy map. Then start asking the following main questions and thinking of the answers from the representative’s point of view. Since this is a group exercise, this will result in a comprehensive list of answers to the questions;What thoughts does this customer normally have and how does he usually feel?What or who does the customer normally listen to?What does the customer see?What does this customer say and do?What is this supporter’s pain?What is his gain?Validate your empathy mapOnce you have this comprehensive list mapped, it is necessary to validate it with actual customer responses. You can have a test group of sample customers from the segment itself answer the same questions and correct any responses if you feel the need to.[slideshare id=24974009doc=empathymaperis-130806031419-phpapp01]THE ELEMENTS OF AN EMPATHY MAP © Flickr | visualpun.chThe Empathy Map is built around the senses; how we receive information through them and how we interpret this information. It also takes a look at customer gains and pains.Element 1: SeeCustomers are constantly creating a persona for your brand in their minds based on what their senses perceive regarding your company. Hence, all visual elements linked to your brand need to be consistent in the message they are sending out. Alignment in your web presence, social media profiles and reviews needs to occur for your customers to form a brand personality that is consistent with the one you want to achieve.Some questions you can use to profile your customer for this element are as follows;What do they see?What does their environment consist of?Who are the other individuals who form a part of the customer’s environment?What kind of product offerings do they see?What kind of issues and challenges do they usually have?Element 2: HearAs with the previous element, all a udio content connected to your brand needs to be in cohesion. Advertising and promotional content are generally closely monitored by the marketing team of any firm. However, simple yet impactful mediums such as how your customer representatives or internal call routing system also sounds leave major impressions with your customers.The following questions can clarify what the customer focuses on where the auditory sense is taking into account;What kind of ideas, information and opinions are being shared with your target customer by their friends and family?What kind of things do they hear at work?Who are the people they are most influenced by?What are the mediums and tactics used to influence them?Element 3: Think and FeelIt is paramount for the owner of a new company to be aware of how customers are responding to the product or service. For a company to capture and keep its customers, they need to be cognizant of who their happy customers are and whether they are willing to act as c hampions for your product, as well as those who are indifferent or outrightly unhappy about your product. Keeping an eye on and investing in the latter is a prudent strategy because these customers may end up maligning your brand image.Following are questions to consider for this element;What is their core yet unexpressed priorities?What causes an emotional reaction for them?What are their dreams and goals?What worries keep them up at night?Element 4: Say and DoAs an entrepreneur, you need to be plugged into the level of convenience you offer customers with your product and service. You also need to keep your ear to the ground, so you know what customers are saying about you, garner improvement areas if any and deliver on these areas.What is their behavior when they are surrounded by people?What, according to them, are their priorities?What is the gap between what they express and their actual actions?Do they act as influencers and opinion leaders for others?Element 5: Customer Pain sThese are the problems and challenges that the customer faces everyday. They refer to unmet needs and desires which cause negative emotions within the customer.What are their main concerns or causes for frustration?What stands between them and reaching for their aspirations?What are the methods they employ to reach their goals?Element 6: Customer GainsThese are elements that add to the customer’s quality of life. They may not result from an expressed need, but they make the customer’s life easier and more convenient through their existence.What are their expressed goals and needs?What is their metric for measuring success?What are the methods they employ to achieve success?Extreme Characters in Empathy MapsWhen looking for an innovative and completely fresh business model, it may be fruitful to invest in research into extreme users of your products and services. Extreme users are people who do not fit into your regular customer segment. They are on the periphery but observing t heir usage of your product or service opens up the possibility of a whole new market for you.These users are heavily invested in your products, or they use your home customized versions of your customers. Hence, if you as a company are seeking to solve customer pains such as sweaty feet or blisters, a good customer segment to connect with could be people who have to wear uncomfortable shoes on a regular basis like dominatrices.Talking to such extreme users could open you up to game-changing breakthroughs that previously hadn’t occurred to you. And because these consumers represent an untapped market they will be more forthcoming with their feedback and recommendations because they are heavily invested in your product.CASE STUDY â€" eSTUDENTeStudent is a university-based social networking site which aims to provide a platform for new students to connect with each other and discover activities of their interest on or around their campuses. Hence, each University will have its estude nt network exclusive for its students. An empathy map for this blog will contain the following;The customer university may see that the information on the network is disorganized and wonder if any of the students will use it or not. They may see that it has too much information or that their university isn’t included on the platform.Universities may hear that all plans are already posted on facebook and hence question the efficacy in investing in the system. They may also wonder at the lack of usage the network provides to older members of the University.The clients thoughts can include the privacy level the network provides whether they need to create log-ins if they have to pay for using it, etc.The target customer may say that the webpage does not offer much visual appeal.The customer pains would be the high investment required to develop the network as well as whether the information exchanges is valid or not.The customer gains are introduction to new people, and finding activ ities 24/7. Image credits:  Flickr | visualpun.ch under Attribution-ShareAlike 2.0 Generic.

Sarbanes-Oxley Act - Free Essay Example

Implementing Sarbanes-Oxley within an Environment: Understanding the controls used to implement Sarbanes-Oxley within an environment Recent high-profile corporate scandals (Enron, WorldCom, Tyco and Arthur Andersen etc.) have shattered the trust, of shareholders, legislators and authorities, in major publicly traded companies and have raised concerns for the state of corporate governance, not only in the United States, but also in other countries of the world. The United Kingdom is not immune to the wave of business fraud, corporate scandals, legislation changes and corporate environment restrictions. With the filing of bankruptcies, the US government had taken immediate action to prevent fraud in the future by enacting the Sarbanes-Oxley Act of 2002 (SOX), administered by the Securities and Exchange Commission (SEC). Similar restrictions and legislations have also been adopted in the UK, in an attempt to curb fraudulent acts from proliferating to the other side of the Atlantic th rough multinational public companies trading in the UK. SOX is a legislation designed to eliminate financial fraud and misstatements by greedy executives, unethical corporate practices and non-transparent business transactions. While SOX has redefined the roles, responsibilities and expectations of the board of directors, internal and external auditors, it has also reformed the practices within organizations. At the heart of the enactment of SOX is the implementation of control to oversee senior management, to secure accurate financial reporting information. Two major requirements of SOX are disclosure of material events and contingent liabilities (Rasch 2005). For this purpose, the role of information technology security has become enhanced, as it is expected to ensure transparency in decision-making, reliability and integrity in the system of disclosure. Yet IT experts are of the view that IT has a vague role in making SOX effective. IT security in SOX context is limited to the extent of enhancing reliability and integrity in reporting, and it does not contribute towards prevention of fraud or unethical corporate behaviours. It cannot prevent senior management from engaging in financial misstatements; neither can it curb executives from over-arching organizational controls and processes. The questions that arise then are à ¢Ã¢â€š ¬Ã‹Å"what is the role of IT under SOX? What are the scope, narrative and control matrix for IT professionals within SOX environment? Are the frameworks for SOX implementation effective in achieving SOX objectives?à ¢Ã¢â€š ¬Ã¢â€ž ¢ Before the researcher attempts to answer these questions, a brief background to the emergence of SOX, and why it is needed, must be explored. The turn of the century saw a series of corporate scandals of companies such as Enron, WorldCom and Tyco etc. Their executives had been involved in unethical corporate practices that affected shareholders and stakeholders, alike. Enron and WorldCom filed for bankruptcies (which were followed suit by others) as a result of fraudulent accounting practices and executives greed. Not long before the issues surrounding Enron and WorldCom were resolved, Arthur Andersen, the auditing firm, was charged for malpractice, especially in non-disclosure of fraudulent financial transactions and reportage. At the time, not only the morals of corporate executives had come under scrutiny, but the gatekeepers of the same companies, namely the auditors, had also been questioned of their ethical conduct. The environment of corporate America had become scandalized. The public had become concerned and demanded immediate reforms for curbing more firms from engaging in similar practices. The demand for vigilant corporate governance, in the form of policies, as well as law, increased. The collusion of financial reporting fraud and audit fraud had led to the need for provisions that would keep tight control over accounting and auditing activities, and to mandate c ompliance procedures that require executive certification, independent audit, and provisions for binding organizations to securities regulations (Romano 2005). The onset of the election, as well as the anxious public, pressured Congress to pass a legislation to indict companies for fraud and to restate the status of the American economy. The result had been the enactment of the Sarbanes-Oxley Act of 2002. The Act, according to Rasch (2005), imposes significant accounting and control requirements on U.S. publicly owned companies (and probably on foreign companies which are either traded on U.S. exchanges or which make up a significant part of a U.S. companys financial reporting). SOX addresses the Enron scandal by establishing controls that would require the need for paper trails of audit activities; it mandates auditor independence; it enhances corporate responsibility; it requires executive accountability; and, more importantly, it establishes control systems by setting a series of compliance policies (Rasch 2005). Control refers to processes, in business or IT environment, whereby, internal controls over financial information generation, access, collection, storage, processes, transmission and usage are governed by a set of guidance. To formalize, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) provides guidelines for financial reporting processes and financial information recording, storage and access. Similarly, for IT auditors relevant guidelines, COBIT (Control Objectives for Information and Related Technologies), had been formed to provide an open standard established by the IT Governance Institute (ITGI), and the Information Systems Audit and Control Association. In the UK, this type of internal controls have been taken up by the IT Infrastructure Library (ITIL), published by the Office of Government Commerce (Rasch 2005). The basic premise for adopting the SOX standard (in the UK or otherwise) for internal controls over IT infrastructure, is to ensure no repetition of the American dilemma, should it occur among UK corporations. After the American scandals, the government and securities commission realize there is a great need for internal controls to emphasize disclosure, both in terms of material events and contingent liabilities, to prevent bottom-line impact. Moreover, SOX is primarily enacted for the purpose of setting standards for accurate financial reporting information. Since, in modern organizations, there is a great reliance on information technology for transfer, store, access and process information, this means IT and its systems have to be reliable and dependable, in order to gear for transparent transaction, certification and compliance. However, before one can fully establish IT responsible for effective SOX compliance, one needs to understand that accurate financial reporting entails processes and elements that do not necessarily have direct link to financial reportage. For example, decisions of board of directors, top company officials, as well as internal and external auditors, securities exchange authorities and so on (Tighter Sarbanes-Oxley Called For 2007), may not necessarily link with IT. Similarly, processes of risk assessment, control activities, monitoring, information and communications form the basis for accurate financial reportage. IT facilitates these activities, but may not be contingent for its accuracy. For these reasons, SOX has established sets of compliance and controls for companies to follow (Caterpillar and Internal Controls 2007). Although, the details of these compliances do not identify IT responsible for controlling fraud per se, nevertheless, it does enhance the role of IT departments and professionals within companies as gatekeepers. For example, Section 404 requires checking of internal controls, which means the implementation of COSO Framework is necessary. In Chans (2004) work, the author outlines that the Public Compa ny Accounting Oversight Board (PCAOB), which sets auditing standards under SOX, refers to IT as affecting companys internal control over financial reporting. She writes: Because systems process and system-generated entries are an integral part of financial reporting, general IT and application controls should be documented and evaluated based on a disclosure and management assessment framework that is compatible with business-process mapping, to enhance consistency and quality. By the same token, the IT environment must be reviewed, along with the overall control environment, for the organization. Simply put, IT governance is an essential component and contributor to financial governance. (Chan 2004). In this context, IT becomes the processing environment that holds many key controls critical for SOX compliance. However, before one can qualify an organization as SOX compliant, its IT control activities need to meet specific criteria. Chan (2004), for example, points to the follow ing assessment criteria: a. IT dependent business environment b. IT processes significant to business activities c. deficiency in IT solutions d. high risk due to computer operations e. organization processes, especially financial reports, dependent on computer processing. f. business based on enterprise-wide systems g. financial application systems used for transactions, interaction and recording of accounts h. dependence on IT processes for enterprise business end-to-end processes i. IT processes managed by third party outsource Apart from the above, the ITGI considers management of IT risks critical for IT governance and compliance. Risk, according to its report, exposes organizations to IT failures. IT related risks impact on business by exposing the business to operational crash, security breach or failed project. Technical complexity, dependence on service providers, limitation of reliable risk-monitoring information systems result in improper gov ernance and risks. Implementation of frameworks, such as COSO, develop readily usable enterprise risk management programmes. Moreover, they provides guidance and direction for overcoming risks, and implement corporate governance, new legislations, regulations and standards (ITGI 2005). Chan (2004) further notes that SOX compliance means reporting rise from the transaction level all the way to its final destination in the financial statements. Processes involved in dissemination of information related to it, depend on the manual and automated controls of the IT framework. For this reason, IT control weaknesses often result in poor compliance and accountability. IT controls, therefore, must be business-driven. More importantly, it must follow a standardized framework that separates common information from sensitive ones, to minimize risks, as well as promote harmonization, of IT, internal auditing, finance and business units. SOX does not require organizations to simply implement s tandard controls, but rather encourages organizations to assess and evaluate internal controls to devise efficient and least intrusive control information documentation, policies and methodologies (Chan 2004). Having said that, experts (Kendall 2007; Carter 2007; Roth 2007) are of the view that SOX compliance is still at its rudimentary stage as organizations in America and in other parts of the world are still grasping its compliance mandates. Kendall (2007), for example, cites organizations as still uncertain of an effective system of control over financial reporting. Provisions within SOX do not provide guidance for successful implementation of controls based on SOX mandates. As a result, companies are relying on their internal controls assessments and testing, to achieve control objectives relevant to SOX requirements, such as examination of risks, create IT risk inventory, reducing controls, consolidating controls, standardizing processes, monitoring changes and streamlining processes. Carter (2007) notes that CSA (control self-assessment) techniques are useful in identifying opportunities for improvement. The technique involves bringing together individuals from different business units of the organization, to gather information on company processes. The session encourages evaluation and redesigning of processes to provide accurate and timely documentation, financial and otherwise. Roth (2007) notes that the ERM (enterprise risk management) technique implies that SOX compliance does not necessarily result in prevention of fraud in the IT context. In fact, other frameworks are more effective in identifying, monitoring and assessing risks associated with IT systems and processes. As mentioned earlier, SOX does not really specify any framework for implementing internal controls. It merely mentions Internal Control and Integrated Framework. Internal control is just as ambiguous, as it means different things for different people. It is likely that misco mmunication may occur as a result of different expectations and perceptions of internal control for SOX compliance. For example, internal control, according to COSO, can be defined as, a process, effected by an entitys board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives (COSO 2004). However, for different organizations, the composition of these elements and processes may differ. Furthermore, according to Damianides (2005), SOX legislation has created a great need for business to have IT internal control in place, to ensure data reliability and maintenance of ethical activities. It requires processes to be aligned with the Acts Section 302 and 404. Section 302 entrusts the responsibility of financial statements certification and disclosures to CEOs (chief executive officers) and CFOs (chief financial officers), while Section 404 requires internal controls of financial reportage without actually outlin ing guidance or procedures for implementing them. Indeed, it has been the ITGI that has come up with the COSO international control framework for financial reporting. The COSO framework is based on the following objectives: Effectiveness and efficiency of operations Reliability of financial reporting Compliance with applicable laws and regulations Thus, internal control is a process, affected by people and expected to provide reasonable assurance and achievement of objectives of one or more overlapping categories (Damianides 2005). The COSO framework follows the Public Company Accounting Oversight Board (PCAOB) and addresses issues related to: * Segregating accounting duties. * Developing effective boards and audit committees. * Managing with wider spans of control. * Implementing sound information technology controls. * Documenting the design and operation of controls. (Rittenberg, Martens and Landes 2007). The COSO framework outlines principles and components for effective risk management processes as well, which is why it is often confused with the ERM (enterprise risk management). The implementation process of COSO involves identification, assessment, response and controls set up and aligned with its strategic plans. The framework emphasizes on enterprise risk management responsibilities and activities that would result in achieving organizational objectives. To ensure that management processes are in place and function according to SOX compliance, an integrated framework can be set up based on COSO guidance. It encourages identification of risk, assessment of companys strategies, and ways to invest in setting up an internal control framework such as investment in effective ERM, establishing effective technology controls and relate it with financial reporting. COSO implementation differs from other internal control framework, as it is broader and incorporates concepts from various risk management strategies, set up and t echniques. It requires external and internal control for financial reportage for SOX Section 404 compliance. As a result, not only the board of directors, but management executives, along with CFO and CIO, become part of the disciplines and procedures for establishing internal control framework (COSO 2004). On the other hand, non-compliance of COSO implementation may result adversely in terms of non-systematic approach for controls or incomplete controls set up, weak and inefficient control environment, which may result in inadequate processes and reportage (ITGI 2006). According to COSO (2004), ERM integrated framework significantly reduces risks for all types of industries, as this framework recognizes effective enterprise risk management processes and applies it in the context of strategic development. According to Ramos (2004), the COSO framework divides IT controls into computer controls and application specific controls. On the other hand, the ERM framework requires ongoing fe edback of information from throughout the company (COSO 2005) to support risk assessment. Similarly, the ITGI also developed COBIT (Control Objectives for Information and related Technology) to address the need for frameworks that address IT issues and provide guidance for IT professionals. COBIT involves provisions of information for achieving organizational objectives, IT processes and resources management. The framework provides a standardized guidance resource for structuring IT controls to comply with Section 404 of SOX (Damianides 2005). Thus, COBIT represents a collection of documents that provide guidance for IT governance, control and assurance. According to the ITGI (2006) report on COBIT, it is a framework for comparing with other frameworks, and provide guidance for process compliance and improvement. The role of IT is magnified under this framework as it addresses issues related to IT by mapping its activities to business drivers, and outlining risks of non-complianc e such as: à ¢Ã¢â€š ¬Ã‚ ¢ Misaligned IT services, divergence à ¢Ã¢â€š ¬Ã‚ ¢ Weak support of business goals due to misalignment à ¢Ã¢â€š ¬Ã‚ ¢ Wasted opportunities due to misalignment à ¢Ã¢â€š ¬Ã‚ ¢ Persistence of the perception of IT as a black box à ¢Ã¢â€š ¬Ã‚ ¢ Shortfall between managementà ¢Ã¢â€š ¬Ã¢â€ž ¢s measurements and expectations à ¢Ã¢â€š ¬Ã‚ ¢ Know-how tied to key individuals, not to the organisation à ¢Ã¢â€š ¬Ã‚ ¢ Excessive IT cost and overhead à ¢Ã¢â€š ¬Ã‚ ¢ Erroneous investment decisions and projections à ¢Ã¢â€š ¬Ã‚ ¢ Dissatisfaction of business users with IT services supplied (ITGI 2006). Under the COBIT framework, organizations must satisfy the quality and security requirements of their information systems for all assessments. The management has the principle role in optimizing IT resources through applications, infrastructure and personnel usage. The process involves entrusting responsibilities and objective achievements throug hout the organization, through an enterprise wide IT architecture. Unlike the COSO framework, COBIT provides guidance for good practice for domain processes within the framework, including specifying activities and executing processes. However, its main focus is on internal control, rather than merely on execution, as COBIT identifies control objectives for planning and organization; acquisition and implementation; delivery and support; and monitoring and evaluation to be integrated within the IT infrastructure. This ensures the internal control system is in place within the IT environment (ITGI 2006). In line with the above, ISO 17799 has also been established to measure security controls within an IT environment. ISO 17799 emerged as Information Security Code of Practice from the UKs Department of Trade and Industry and revised by the British Standards Institute in 1995. It underwent many changes before it adopted its present status. The document outlines a set of standards tha t covers organizational security, asset classification and control, personnel security, physical and environmental security, access control, system development and maintenance, business continuity management and compliance (ISO 27002 Central 2007). In addition to ISO 17799, a revised version BS7799-2 / ISO27001 in 2002 has been published to add specification for Information Security Management System (ISMS). This part takes into account of measure, monitor and control of security management (ISO 27002 Central 2007). ISO 17799 implementation involves organization of different areas of the business within its framework. For example, setting up of objectives to ensure business activities and processes are not disrupted by developing system access control of information, unauthorized access, network security, unauthorized computer access and ensure information security is in place for mobile computing. Furthermore, ISO 17799 also have provisions for system development and maintenance th at ensure operational systems, data application systems, confidentiality and integrity frameworks. Under the ISO 17799 framework, controls are defined through legal and business requirements, cost of implementation and potential impact of security breach (ITGI 2006). The ISO 17799 framework not only ensures compliance through security, but also extends external controls to avoid criminal or civil law, statutory, regulatory and contractual activities (ISO 27002 Central 2007). Overall, it is the organizations security, which is the main objective of ISO 17799. However, in terms of SOX compliance, this framework is limited as it focuses on IT control implementation exclusively (ISO 17799 and Computer Security News 2007). Even though it does not relate to SOX entirely, non-compliance exposes companies to risk of information disclosure, such as loss of confidence and trust; incomplete risk assessment; lack of security awareness within the organization, third party interaction and interfe rence in the organization; and flawed procedures (ITGI 2006). The ITIL is another framework based on a series of publications of eight books that outline best practice for IT service management. It has been established by the Central Computer and Telecommunication Agency (CCTA) (or British Office of Government Commerce) (ITGI 2006). ITIL defines service processes, quality, objective and implementation of control for IT organization. The books are guides for addressing effective IT function through operation and maintenance of existing systems; development of new systems, and adjustment of service delivery for evolving requirements of the business. The key concepts that ITIL addresses are holistic IT service management and customer orientation. The processes involve incident, problem, configuration, change, and release management, apart from best practices, such as service level management, financial management for IT services, capacity management, business continuity and availabi lity management Non-compliance results error-prone support processes (ITGI 2006). Despite the presence of these frameworks (and many others), there are no guarantees for financial reportage exposure to data risks. According to Brown and Nasuti (2005), these frameworks do not necessarily mean SOX compliance, as they are dependent on the companys ability to identify, choose and implement particular framework(s). They are of the view that the frameworks adopted contribute towards strategy, architecture and planning of IT processes and enables executives to manage, anticipate and assemble technologies and methodologies for continuously improving IT environment, but they do not help prevent fraud. SOX provisions are applicable not only in publicly traded companies, but also in internal control environment of private companies, though their processes may differ from firm to firm. The choice for adopting particular framework, thus, depends on the efficacy of IT infrastructure alignment with the business objectives, the challenges it poses to IT governance, systems development and competencies and change management initiatives. It also depends upon the implementation of risk management approaches and ways organizations identify success factors for implementation. SOX complexity does not end in the choice of framework or effects of non-compliance. SOX audit is an area that has raised major concerns among auditors. Auditors are responsible for bookkeeping, financial information systems, valuation services, investment services, legal services and actuarial services that are related to managerial functions and investment activities. Yet SOX provisions, according to Tackett, Wolf and Claypool (2006), prohibit consulting activities by independent auditors. The restriction includes management assessment and attestation on effectiveness. The basic premise for setting these restrictive provisions is to curb independent auditors from assisting management in establishing i nternal controls for management processes, delegation and responsibilities. SOX compliance, though, allows for corrective feedback, testing of activities, and assistance in approval of processes, it does not provide interference from independent auditors. As a result, SOX audit provisions mandate self-audit by non-audit consulting service providers. It also mandates auditors to provide one report on financial statements, and 3 relating to ICOFR (internal controls over financial reporting), so as to ensure reports are independent and may contain unqualified opinion over internal control of financial reportage. SOX enactment has demonstrated that there is a great need for improving corporate responsibility and restore investor confidence in the US public companies. The setbacks by corporate scandals have intensified the need to establish regulations that would apply strict rules for accountability, disclosure and reporting (ITGI 2004). The emphasis on Section 404 requires senior ma nagement and business owners to reconsider their present internal control structure. As compliance to SOX means redesign of internal control structure, where IT plays a critical role nowadays, for financial reporting processes, organizations are gradually appreciating the mandates outlined by SOX. However, for the majority, there is still a gap which SOX has not addressed: ITà ¢Ã¢â€š ¬Ã¢â€ž ¢s role in SOX. Since SOX has not clearly identify IT control as part of SOX compliance, nevertheless, IT has become an apparent vital internal control, as without IT systems, data and infrastructure components financial reporting would have been incomplete. This distinction leads the researcher to understand that IT has the critical role of laying the foundation for internal control for SOX compliance. This is inherent in the fact that modern organizations use information technology and their system for establishing control over financial reporting. IT internal control is synonymous with gate k eeping and, in essence, meets the requirements of SOX. Given the above rationale and background, the researcher proposes research in the following contexts: What are the scope, narrative and control matrix for IT professionals within SOX environment? Are the frameworks for SOX implementation effective in achieving SOX objectives? How can organizations identify, choose, create and implement a control matrix that is congruent with SOX compliance keeping ITs role in mind. And lastly, how can organizations enhance the role of IT internal control in SOX compliance? The researcher understands that there is a critical link between SOX compliance and IT, as it has been emphasized by the various frameworks recommended by SOX. Even though SOX does not specify which frameworks to choose, the researcher assumes that current frameworks established by ITGI, CCTA and ISO are the ones accepted by the law, organizations and professionals. The researcher also assumes that SOX co mpliance has become a mandate, rather than an option. In the research that ensues, the researcher shall assume that organizations that adopt SOX compliance have defined IT infrastructures and are keen on building upon IT internal control, conducive to transparent, accurate and reliable financial information. However, these assumptions place certain limitations in the research. They exclude organizations, which may not have adopted IT infrastructure for financial reporting, such as small private enterprises, which are not required by law to disclose financial information to the public. They also limit the study to organizations that are not affected by SOX, for example, foreign firms that do not rely on IT systems for financial reporting and are not affected by US laws. Nevertheless, the researcher is of the view that IT internal control is not only a SOX compliance mandate currently, but also a requirement for successful organizations. It is important for organizations to have in ternal control in place, regardless of SOX compliance, in order to remain competitive in business. For these reasons, the researcher shall bypass the limitations and assume that organizations, whether large or small, require SOX internal control frameworks for compliance. The purpose of the research is to explore SOX in the context of IT internal control frameworks. As outlined in the above literature this is critical for SOX compliance as well as for laying the foundation for IT infrastructure building. Thus, the research shall be relevant to legislative officials and SOX compliant interpreters who need to understand the gap, if any, for compliance. Moreover, it is relevant for IT professionals who are involved in exploring, establishing and aligning IT control within the SOX context. They would find the study enumerative in understanding IT relevance under SOX as well as how they could better its objectives. For student researchers, the study may act as a platform for furtherin g research in the areas of IT internal control matrix, frameworks creation and competitive advantage through SOX compliance, which shall be touched upon briefly. Academicians shall find the research enumerative as it explores various options for SOX internal control frameworks through a study of dimensions in implementation. The choice for research methodology largely depends upon the concepts being explored. The validity of the choice of research methodology also depends on the issues rationale adopted for discussing the topic. In the course of the research conducted for the proposal the researcher has found that understanding SOX compliance may require a theoretical exploration and at the same time measurement for its effectiveness and efficacy. In this context, the researcher may adopt a quantitative or qualitative approach. Quantitative approach refers to quantitative measures based on primary observations and empirical findings (Stenbacka 2001). On the other hand, a theoreti cal exploration requires a qualitative approach. Qualitative research involves extensive research based on concepts, theories and ideas studied by other experts before the researcher can reach to his/her own conclusions (Sykes 1991). This is not all; research approach choice also depends on reasoning. Critical thinking requires that one understands the rationale behind the results acquired. Rationale choice can be categorized into inductive or deductive. Deductive reasoning refers to a process of generalization before narrowing it down to the research problem or issue. Alternatively, inductive reasoning refers to inquiries that is based on specific problem or issue, and explore it to establish generalizations. Whichever the rationale approach adopted the researcher must determine it in the context of its relevance to the research problem (Hyde 2000). In the context of the above proposal, the researcher shall aim to adopt a combination approach of quantitative and qualitative m ethods so as to comprehensively test the validity of the questions proposed. The combination of deductive and inductive reasoning on the other hand shall enable the researcher to understand the problem issue of SOX compliance within the IT environment dynamically. References Author not available (2007) Caterpillar and Internal Controls Sarbanes-Oxley UK. Online accessed on 22 June 2007 from: https://www.sarbanesoxleyuk.co.uk/asarbanesoxleyuka366306.htm Author not available (2007) Tighter Sarbanes-Oxley Called For Sarbanes-Oxley UK. Online accessed on 22 June 2007 from: https://www.sarbanesoxleyuk.co.uk/asarbanesoxleyuka366211.htm Brown, W. and Nasuti, F. (2005) What ERP systems can tell us about Sarbanes-Oxley. Information Management Computer Security Vol. 13 No. 4, pp. 311-327 Carter, C. (2007) Compliance Through Self-assessment. The Internal Auditor 64 no. 2 pp. 69-72 Chan, S. (2004) Sarbanes-Oxley: the IT dimension: information technology can represent a key fa ctor in auditors assessment of financial reporting controls. Internal Auditor, February Issue. COBIT Mapping: Overview of International IT Guidance, 2nd Edition ITGI 2006. COSO (2005), à ¢Ã¢â€š ¬Ã…“FAQs, for COSOà ¢Ã¢â€š ¬Ã¢â€ž ¢s enterprise risk management à ¢Ã¢â€š ¬Ã¢â‚¬Å" integrated frameworkà ¢Ã¢â€š ¬Ã‚ , COSO. Online accessed on 22 June 2007 available at: www.coso.org/Publications/ERM/erm_faq.htm Damianides, M. (2005) Sarbanes-Oxley and IT Governance on IT Control and Compliance. Information System Management 77 Winter Issue. Fletcher, M. (2006) Five Domains of Information Technology Governance for Consideration by Boards of Directors. Capstone Report. Hyde, K. F. (2000), Recognising deductive processes in qualitative research. Qualitative Market Research: An International Journal, Volume: 3 Issue: 2 pp. 82 90 ISO 27002 Central (2007) The A-Z Guide for BS7799 AND ISO17799. ISO 27002 Central. ITGI (2000) Aligning COBIT ®, ITIL ® and ISO 17799 for Business Benefit. A Management Briefing from ITGI and OGC. ITGI (2004) IT Control Objectives for Sarbanes-Oxley: The Importance of IT in the Design, Implementation and Sustainability of internal Control Over Disclosure and Financial Reporting. ITGI. ITGI (2005) Information Risks: Whose Business Are They? IT Governance Institute Report. Kendall, K. (2007) Streamlining Sarbanes-Oxley Compliance. The Internal Auditor 64 no.1 pp. 38-42, 44 Patterson, E. R. and Smith, J. R. (2007) The Effects of Sarbanes-Oxley on Auditing and Internal Control Strength. The Accounting Review Vol. 82, No. 2. pp. 427-455. Ramos, M. (2004), How to Comply with Sarbanes-Oxley Section 404, Wiley, Hoboken, NJ. Rasch, M. (May 3, 2005) Sarbanes Oxley for IT security? Security Focus. The Register. Online accessed on 22 June 2007 from : https://www.theregister.co.uk/2005/05/03/sarbanes_oxley_for_it_security/ Risk Associates (2007) ISO 17799 and Computer Security News. Risk Associates. Online accessed on 22 June 2007 available at: https://www.computersecuritynow.com/index.htm Rittenberg, L. E., Martens, F. and Landes, C. E. (2007) Internal Control Guidance. Journal of Accountancy 203 no.3 pp. 46-7, 49-50 Romano, R. (2005) The Sarbanes-Oxley Act and the Making of Quack Corporate Governance. Yale Law Journal. Vol. 114. Issue: 7 pp. 1521+ Roth, J. (2007) MYTH vs. REALITY: Sarbanes-Oxley and ERM. The Internal Auditor 64 no. 2 pp. 55-60 Stenbacka, C. (2001) Qualitative Research Requires Quality Concepts of Its Own. Management Decision 39/7 pp. 551 Sykes, W. (1991) Taking stock. Journal of the Market Research Society, Vol. 33, No. 1, pp. 3 Tackett, J. A., Wolf, F. and Claypool, G. A. (2006) Internal control under Sarbanes-Oxley: a critical examination. Managerial Auditing Journal, Volume 21 Number 3 pp. 317-323

A Sense of Belonging Comes from Having Connections with...

A sense of belonging is an essential part of every individuals life. A sense of belonging can be created from having connections with people and places within a personal, cultural, historical and social context. The choice of where to belong and who to belong with changes peoples sense of belonging as time passes. The Poetry of Peter Skrzyneckis Immigrant Chronicle and Carson McCullerss novel , The member of the wedding demonstrates how a sense of belonging comes from having connections with people and places. The member of the wedding discuss the idea that we do not always choose the groups we belong to and sometimes individuals are cast into groups to which they feel little connection. The novel, the member of the†¦show more content†¦Feliks Skrzynecki explores the relationship between the poet and his father, and their contrasting experiences of belonging in a new land. The poem is written from the poets perspective of his father. In the first two stanzas he sees him from the perspective of a loving son and builds up a positive and respectful image of his father. The emotive word gentle suggests his fond attachment and admiration for his father who has raised him. This admiration was not apparent in his youth as Skrzynecki recognises that there were cultural barriers between them that hampered the father-son relationship. This poem explores Felikss sense not fully belonging to Australia and his sons growing detachment from their polish heritage. In many ways father and son gr ow to become strangers to each other, with individual attitudes towards belonging in an Australian context. As they share no common cultural background, the connection and sense of belonging to each other is not complete. Peter does not belong within the Polish culture, nor does he completely identify with Australian culture when he was a young boy and adolescent. 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Bruno also feels alienated from societyRead Moreâ€Å"Belonging Is More Than a Connection to a Place; It Also Means Being at Home Within Yourself and Knowing Who You Are.† Discuss This View with Detailed Reference to Ten Canoes and One Other Related Text of Your Own Choosing.1149 Words   |  5 PagesBelonging is an essential part of human life that is not always just a connection to a place; it is a feeling of being at home within yourself and having the patience to discover who you are. Being at home within yourself is a process that is not instantaneous and this is evident in the film Ten Canoes and the poem ‘Digging’. Through characters and text specific techniques, the film and poem portray processes of how developing an understanding of group dynamics and relationships allows one to gainRead MoreBelonging Essay1459 Words   |  6 PagesPeter Skrzynecki Belonging Essay Significant moments in time shape an understanding of belonging. Explore how this is evident in you prescribed text and at least ONE other related text of your own choosing. Belonging is defined as fitting in to a particular environment or having the right personal or social qualities to be a member of a particular group. Our belonging to or connections with people, places and groups allows one to develop a distinct identity characterised by affiliation, acceptanceRead MoreSaroo Brierleys Story of Acceptance Being the Key to Belonging.841 Words   |  3 PagesThe persistence he displayed is extremely admirable - a persistence driven by the strong forces of belonging. The human trait of curiosity goes hand in hand with belonging. We naturally want to discover who we are, and for Saroo Brierley that took a bit more effort compared to the average boy. Being torn away from his family stretched his sense of belonging, and later in life made him question that sense. His journey of finding his true identity as a member of the Australian culture, his home cultureRead MoreAnalysis Of Alistair Macleod s The Boat, And The Lost Salt Gift Of Blood 1122 Words   |   5 PagesIn Alistair MacLeod s collection of short stories, The Boat , The Return , and The Lost Salt Gift of Blood , MacLeod explores the connection between identity and belonging with nature. MacLeod, through the powerful landscape of Cape Breton, the weather, the winter seas, fishing, and the coal mines, provides a background to the human events and the drama to the stories. However, Cape Breton is more than just a landscape and becomes a strong character in its own right, providing a strongRead MoreThe Social Bond Theory Is One Of Many Theories Under The1092 Words   |  5 PagesControl theories take a different approach to crime than most other criminological theories. Instead of looking to solve the popular question of why people commit crimes, it looks to answer the question of why most people do not commit crimes. This theory believes criminal motivation is in fact not an individual trait, but instead a universal property. People aim to seek pleasure and without contro l, they will at all means. With that, there are two types of control a person can exhibit: personal and socialRead MoreNational Park : An Historical Point Of Interest For The Guringai And Darug Nations993 Words   |  4 PagesNational Park is a particularly important place of historical significance to Berowra’s indigenous and non-indigenous communities. The traditional owners of the land of the Berowra area are the Guringai and Darug people. (Australian Bureau of Statistics [ABS], 2013) published that there were 565 residents or around 0.4% of the total population living in the Hornsby Shire in 2011. This number had increased from 447 in the 2006 census (ABS, 2007). Some important places around the Berowra area are the MuogamarraRead MorePopulation 485 Essay1715 Words   |  7 Pagesdifferent themes throughout the book, I chose to focus my interpretation on the sense of belonging the author, Michael Perry, seems to crave all through the literature, and more specifically, d uring chapters one and seven. In chapter one, titled Jabowski’s Corner, he opens the door to his journey by bringing us to the small town of New Auburn, Wisconsin. This is the place he belongs. He introduces many of the people of New Auburn in every chapter, but I chose chapter seven because he describesRead MoreIt Is Our Humanity That Binds Us Inextricably1345 Words   |  6 Pagesunderstanding and a sense of belonging. As Dick Staub so adequately explains â€Å"Wholly unlike God we are nevertheless God’s image bearers. Wholly unlike God, we are like God in that we are free beings. Knowing that true love is chosen, not imposed, God gave humans the gift of freedom- freedom to choose either to glorify God, as creatures who honor their creator, or to usurp God’s rightful place, choosing to glorify ourselves the created ones.† The years have shown me that often people walk past the