Air France

In an airline industry, companies had been suffered with low returns, bankruptcies and ever-fluctuating demand. Air France has been preventing the situation by developed strategies such as a progressive operating lease, short- or medium term lease of substantial part of fleets to reduce capacity and cost. Since 2006, the traffic of air travel has been growing rapidly, which created a competitive landscape in the airline industry and also the emergence of e-commerce as a direct to consumer sales.Air France took those opportunities by providing online services on direct website, but after a while aggregators and metasearchers who offer beyond services appeared, which make the direct website had difficulty to compete. Media Contact, hired by Air France, has been developing strategy to optimize performance on Search Engine Marketing campaign to increase net revenue gained through online channel and return on investment spending, as well as efficiency of driving visitors to site and conve rt them to consumers through the conversion funnel at the minimum cost.The Media Contact uses sponsored search of six search engines, global- and US-based, and advertises on metasearchers and aggregators as well. As shown in the publisher performance table below, from exhibit 6, Google US earns highest impressions, mostly from branded keywords, and volume of bookings, also at highest cost but the conversion rate is relatively low. On the other hand, MSN has lowest investment but it turned out that MSN give the outstanding conversion rate than any others.Another publisher such as Yahoo US and Overture US has higher conversion rate than others that has more funding. T The bubble chart below illustrates the performance of each publisher, based on the complete data set, according to their average cost per click on Y-axis and probability of bookings on X-axis. The size of each bubble represents funding spent on each publisher. The first quadrant represents high cost-per-click, publishers , which are Google US and Google Global. These publishers has high impressions but theClick-Through-Rate is relatively low, The Media Contact should arrange strategy that can lower cost such as modifying bid strategy, keyword selection, and match type. The funding for these publishers should also be lowered. In the upper-left quadrant shows publishers who have lowest conversion rate at highest cost, no publisher is in this category and should not be. Overture Global and US are in the third quadrant that demonstrates publishers with low probability of booking.Publishers in this quadrant must be converted to the forth quadrant by considering keyword selection, ease of completing transaction, and complication of website and applications, for example. The highest probability of producing a booking come from the forth quadrant where Yahoo US, MSN Global, and MSN US rely on. This quadrant not only gives Air France high probability of bookings but also at the lowest cost. The Media Contact should focus on this quadrant by increasing funding for these three publishers from budget deducted from the first quadrant.In order to gain visitors from aggregators, Air France should consider about creating two- or three-in-one service by offering hotels, car rental or promotional packages. This strategy could increase sales occurred in direct website and reduce cost of advertising on aggregators website. Air France could also earn revenue from advertising of hotels and car rental services. By optimizing sponsored search and implementing strategies, Cost-Per-Click will be reduced and number of bookings will be higher. The Media Contact can deliver higher net revenue and Return on Investment to Air France.

Charlotte Doyle Character Analysis

The most characters that depict great change are Charlotte, our protagonist, Captain Jaggier, our antagonist, and former Second mate, Ketch. Through this tumultuous voyage, Charlotte metamorphoses Into a lady of great beauty, Captain Jaggier deteriorates, and Ketch's duplicitous nature arises. Metamorphosis and change of oneself occurs when one recognizes the first step which Is awareness, and the second which Is acceptance. From an egg to a butterfly, Charlotte Doyle truly transforms and metamorphoses Into a beautiful human being that fights for justice and equality in a time where slavery, classicism, and racism revealed.Charlotte life changes through several choices and actions she takes. Firstly, Charlotte witnesses a horrifying panorama of Captain Jaggier thrashing and lashing her beloved friend Zachary, thus she finds out the true nature of Captain Jaggier. † When he saw they were bloody he swore a savage oath, jumped forward, and tore the whip from my hand, whirled about and began beating Zachary with such fury as I had never seen,† (pig 70). This changes her life because she admired Captain Jaggier and saw him as a â€Å"father† figure.Her whole impression of Captain gagger metamorphoses completely also because he chose Zachary, her beloved friend, to lash and cause extreme anguish to. She also learns to be more aware and less naive. Secondly, Charlotte unexpectedly chooses to become a member of the crew thus climbs the mainmast; this changes her life completely. â€Å"Recollecting Awning's advice, I shifted my eyes and focused them on the ropes before me. Then, reaching as high as I could into one of the middle shrouds, and grabbing a ratline, I began to climb,† (pig 84). Charlotte became a member of the crew by climbing the mainmast.Without Charlotte realizing, he was able to make her a spy for him. Also, he befriended Charlotte in order to prevent his death, and in order to stop the crew from signing the round robin. Secondl y, Captain Jaggier chooses to whip Zachary and this causes him deterioration where his life changed drastically. † When he saw they were bloody he swore a savage oath, Jumped forward, and tore the whip from my hand, whirled about and began beating Zachary with such fury as I had never seen,† (pig 70). When the beast emerged, Captain Jaggier deteriorated in Charlotte eyes, she belittled him, and her impression of him changed entirely.This also caused Charlotte to whip him, and this embarrassed him in front of the crew thus he deteriorated and weakened. He lost Charlotte, and hatred of the captain rose even higher amongst the crew. Thirdly, he chose to beat up Cranky to the point his arm had to be cut off, and this brings the crew against him. â€Å"Captain Jaggier said Mr.. Cranks laboring arm was his by rights. Miss Doyle, Mr.. Cranky has but one arm now. He was that much beaten by Captain Jaggier, who, as he said himself, took the arm. I was first surgeon, then carpent er to Mr.. Cranky,† (pig 28).This changed his life because this is what made the crew sign the round robin and come against him. Captain Jaggier experienced severe deterioration and loss of power when all the crew came against him. This was the obviously the first step of his deterioration. Captain Jaggier deteriorates and warps through the tumultuous voyage. His loss of power and authority cause him to become insane and full of wrath. His anger and extreme wrath causes him death when faced against Charlotte in a life or death situation. This comes to show that a person that is unjust and cruel will always be defeated, and will always come to an end. Our enemy is motivated by hatred and will not stop planning more plots against until they are ultimately defeated,† Timothy Murphy. â€Å"We are only falsehood, duplicity, contradiction; we both conceal and disguise ourselves from ourselves,† Blaine Pascal. Ketch, a member of the crew, was once portrayed as a fearful man with darted eyes, and turns out to be a man of great treachery, mischief, and trickery. His duplicitous nature arises as his choices and actions change his life. Firstly, Ketch decides to sign the round robin, and this causes change in his life. â€Å"As for Mr..Ketch, since he seems to prefer serving you ratter tan me†¦ ‘ place ml In ten Directorates winner Nee wall De more comforts position of second mate, thus vacated, I give to Mr.. Johnson. He at least had the dogs wit not to sign your round robin,† (pig 76-77). Ketch signed the round robin and this changed his life because he lost his position as second mate; he lost the loyalty of the captain. Secondly, Ketch hides Zachary in the brig and this changes his life. â€Å"Ketch brings me food and water every day,† he continued. The food isn't as good as what I would have prepared, but enough to keep me alive.

Dr. Pepper Snapple Group Case Study Essay

Andrew Barker, a brand manager for Snapple beverages at the Dr. Pepper Snapple Group, Inc., must assess whether or not a profitable market opportunity exists for a new energy beverage brand to be produced, marketed, and distributed by the company in 2008. He has about 3 months to determine the market opportunity. SWOT. Strengths| Weaknesses| * Strong portfolio of leading consumer-preferred brands * Integrated business model * Strong customer relationships * Attractive positioning within a large, growing, and profitable market * Broad geographic manufacturing and distribution coverage * Strong operating margins and significant, stable cash flows * Experienced executive management team| * Currently the only major domestic nonalcoholic beverage company in the US without a significant branded energy drink of its own * Company bottlers and distributors do not serve all areas of the US (by early 2008, 80% of the US market) * Market is already established| Opportunities| Threats|. * Integrated business model provides opportunities for net sales and profit growth through the alignment of the economic interests of its brand ownership and its bottling and distribution businesses * Carbonated beverages were the 4th largest nonalcoholic beverage category in the US in 2006 and the fasted growing beverage category * Average US per capita consumption of energy beverage drinkers increased by 14% since 2004| . * Industry analysts project an average annual growth rate of 10.5% from 2007 to 2011 (down 32% from 2001-2006) which is attributed to market maturity, increased price and packaging competition, and the entrance of hybrid energy beverages, such as energy water, energy fruit drinks, ready-to-drink energy teas, and energy colas * Energy beverage consumers limit their choice to only 1.4 different brands, which suggests brand loyalty in this market. * 5 Major brands (Red Bull, Hansen, Pepsi-Cola, Rockstar and Coca-Cola) dominate the US energy beverage market, accounting for 94% of dollar sales and unit volume. * The energy beverage market has experience product proliferation and price erosion in recent years * Energy beverage prices declined 30% from 2001-2006| Critical Issues * Dr. Pepper Snapple Group, Inc. is the only major domestic nonalcoholic beverage company in the US without a significant branded energy drink of its own. * 5 Major brands (Red Bull, Hansen, Pepsi-Cola, Rockstar and Coca-Cola) dominate the US energy beverage market, accounting for 94% of dollar sales and unit volume. Alternatives. * Do Nothing * The Dr. Pepper Snapple Group, Inc. bottling and distribution system should introduce an energy beverage, marketed towards adults, ages 34-54. The Energy beverage should include two flavors, with a regular and sugar free version of each, all available in a standard 16 ounce size, as this segment accounts for the most growth opportunity (150%). Advertising and expenditures for the new energy drink brand need to avenues through social media, TV, print, event, etc., as the market is very competitive and consumers are extremely brand loyal. Advertising should include free handouts of the beverage, or ‘trials’, to generate buzz and get consumers to try the product. The new product should be able to stand out when next to other energy drinks, maybe package it in a unique bottle, such as glass. They should supply all off-premise retailers, focusing on the convenience stores first, as they account for the most retail dollar sales, and then moving into the supermarkets and mass merchandisers. The new beverage should be priced a little higher than average, at $2.50 per single-serve package.

Gap year Assignment Example | Topics and Well Written Essays - 1750 words

Gap year - Assignment Example This one year gap helps many students in creating some time to plan their lives well and make goals and objectives which they would want to strive for in years to come. Due to so much pressure from school work, this time may not be created in any other way. The holidays students go for are too short to expose them to the real world. This exposure is very much important as far as decision making is concerned. It helps students to connect their dreams and targets to reality. Students are therefore able to make realistic objectives in life. This consequently helps in bringing out the best future for them as they focus on achieving what they already know they can. As for the academic burn out, student prefer taking some time away from the loaded stress associated with academic work. This helps them to keep healthy and fit, free from stress related illnesses that may be brought about by prolonged stress. To avoid prolonging the stress, many students decide to apply the gap year between hi gh school and college levels. It is therefore healthy and greatly advisable for the government of the United States to incorporate this gap into their education system as it has more advantages as compared to disadvantages. This means it is very much helpful as compared to the harms it creates in the academic lives of students (American Gap Association). The gap year has numerous advantages to the students who choose to apply it. One of these advantages is the fact that the gap year helps students cross over to adulthood before joining university or college. The one year exposure to the outside world prepares students for the next level, both academically and socially. Students who have just left high school in most cases lack the sense of maturity and need to be connected to reality. This helps them to differentiate between wrong and right decisions in life. They are made to have insight on consequences of every

Research on HIV Assignment Example | Topics and Well Written Essays - 750 words

Research on HIV - Assignment Example The refusal of HIV patients to face their illness is also another critical factor influencing the responses of people towards HIV patients and towards nurses being involved in the treatment of HIV. Statement of the Research Problem Current study focuses on the following research problem: Which has been the involvement of nurses in Mississippi delta in the treatment and the control of HIV among the local population. Purpose of the Study The study aims to show the potential value of nurses in controlling the expansion of HIV in Mississippi delta. At the same time, the study aims to show whether nurses can contribute in the improvement of treatment provided to people suffering from HIV. Other issues, such as the effectiveness of current policies would be tested using appropriate findings. Theoretical Framework The control of HIV in Mississippi delta, as also in other regions, is quite problematic mostly because local nurses are not able to face the needs of patients, who are continuousl y increased. Still, the measures taken by the state for the confrontation of HIV can be characterized as ineffective mostly because they do not refer to certain issues that are critical in terms of diseases’ expansion not only in Mississippi delta but also worldwide. ... Another research has revealed that the expansion of HIV in the Southern regions of America is highly related to the lack of education in regard to the implications and the consequences of the particular disease (Sternberg & Gillum 2011). The rapid expansion of HIV in South America can be made clear through the following fact: in 2005 the rate of HIV expansion in Mississippi Delta has been found to be high, about 28.0 per 100,000 (Rural America 2012). It has been also proved that the problems related to the access in HIV treatment are higher in rural areas of Southern America, compared to other regions of the particular country (Rural America 2012). Research Questions The study aims to provide appropriate answers to the following questions: A) which has been the role of nurses in the control of the expansion of HIV in Mississippi delta? B) Which are the challenges that nurses working in the above region have to face when being involved in the treatment of HIV? C) Which are the current trends in regard to the control and the treatment of HIV in the specific region? D) Which are the key practices used by nurses in Mississippi delta for managing cases of patients suffering from HIV? Assumptions It has been made clear that nurses can highly affect the control of HIV in Mississippi delta. Moreover, nurses can contribute in the improvement of existing policies, related to the control of HIV, not only in Mississippi but also globally. The research developed for this paper has revealed that the treatment of HIV can have a series of implications that need to be taken into consideration before starting such plan. Significance of Study As already explained,

HEALTH LAW AND ETHICS Essay Example | Topics and Well Written Essays - 250 words - 1

HEALTH LAW AND ETHICS - Essay Example Further, childhood obesity increases the children’s vulnerability to cardiovascular diseases. The major cause of childhood obesity, being consumption of foods with high levels of calories, however induces both legal and ethical concerns. This is because different stakeholders such as the government, the fast food industry, and parents have a responsibility to protect children from the identified health risk factors. The government should for example enact strict laws to regulate level of calories in produced foods while the industry should outline ethical measures for protecting children. Judicial implementation of the regulations would greatly solve the childhood obesity issue. The opinion that public health has currently thrived more that in old days is true and consistent with the high living standard that has led to higher life expectancy. Such developments in public health are however attributable to public health policies that are legally formulated and enforced to ensure that individuals right to life is protected by the government. Established legal measures and ethical standards in public health have also ensured immediate and adequate

New York City Project Part 4 Essay Example | Topics and Well Written Essays - 1000 words

New York City Project Part 4 - Essay Example Similarly, the economic recovery of the city as reflected by the improved activities at Wall Street would enable the local government in attaining the projected revenue in the budget drawn (Hillman, 2009). Consequently, the ability of the New York City local government to deliver services to the population of the city is strong due to the availability of funds to finance the government operations. Indeed, the economic recovery within the city saw the revenue collection forecast for the fiscal year of 2012 exceeding by $2.4 billions that will be useful in closing the financial gap of 2013 financial year (Bloomberg, 2013). Similarly, the fiscal budget that has been prepared by the local government of New York City allows for future modification on the allocations that have been made to the different departments. This will help the city in avoiding the current shut down crisis that is facing the federal government organs currently. Furthermore, the reducing deficit projection in the bud get implies that the financial stability of the firm is strong in allowing the city to deliver it services to the public. This will boost the ability of the New York City local government in meeting it obligations and development objectives. The financial budget for New York for the year covering 2013 financial year has projected deficit of $1.6 billion that is a reduction of $0.4 billions of the previous year deficit projection of $2 billions. The city is projecting to collect revenue of $49.2 billions from the tax and levy fees it charges to business operating in the area against an expenses projection of $50.8 billions for the financial year 2012-2013. Consequently, the municipal government of New York City has come up with a plan of issuing a municipal bond to finance it core development projects for the 2013 financial year. This will help the municipal government of New York City in closing the deficit gap. Similarly, the revenue collection that exceeded the financial forecast of 2012 has been cited as the remedy that will be utilize in closing the deficit gap that is expected in the financial year of 2013. Another strategic measure that has been cited by the local government cabinet in solving the projected deficit is contracting private firms to undertake a number of the government tasks on a long-term basis due to the improving economic environment that will enable the firm to earn high revenues to settle for the contract (Seidman, 2008). The outsourcing mechanism that has been adopted by the municipal government of New York City will help in the necessary services to the public even with the limited financial resources been projected in the budget. One of the measures that should be undertaken by the New York City municipal government to reduce the budget deficit it is facing is to downsize the number of workers (Anderson, 2011). The recurrent expenditure of the city government is biggest proportion in the budget allocation. This implies that the city government is facing unsustainable labor force that is straining it financial resources. Thus, the government should eliminate some traditional job classifications that have been overtaken by adoption of information and technology platform with the various department of the government (Titos, Makondo, & Nsingo, 2010). This will help the municipal government of New York City to reduce the current budget deficit it is facing. The trend of the New York City budget over the last five years

Business Formation Coursework Example | Topics and Well Written Essays - 1750 words

Business Formation - Coursework Example The entrepreneurs are required to make judgments based on their knowledge, understanding and size of the business. A small business with less capital may be established as a sole proprietor rather than a partnership or a company. Similarly, a company with high capital requirements and extended future expected growth may be established as a company/corporation. The advantages and disadvantages related to each of these business forms should be given appropriate consideration before making a decision. These advantages and disadvantages are discussed below to aid your judgment in the decision making process regarding the types of business formation structures available. Sole Proprietorship Sole Proprietorship is a form of business which is usually preferred by single owners to manage their small-sized businesses. Sole proprietorship is a form whereby the whole authority of managing the daily activities of the business, its management and decision making is limited to the owner of the bus iness. The owners, under sole proprietorship, are the sole holders of any gains or losses generated by the business. They are solely and entirely accountable for the liabilities and rightful holders of the assets that business owns. The legal phenomenon is that business and the owner are equal or the same when it comes to any charge against or for the business. The business’s liability may be termed as the liability of the owners. There are a number of benefits that sole proprietorship brings for the business and the owners. These advantages distinguish this form from other legal forms of businesses. The first and foremost advantage of this kind of a business is the least complex structure of the business. The simplicity of the structure keeps the costs of starting the business and managing it to the minimal. Hence, it may be termed as a cheaper way of establishing a business. Since sole proprietors are the owners of the business with full authority to make decisions and chan ges in the business, this form provides an autonomous position to the owners. They have the authority to change suppliers, the way activities are performed and even the proportion of income which is to be reinvested and so on without any external opposition or conflict. In simple words, we can say that this form brings an independent authority to the proprietors for strategic and managerial decision making without any disagreement from any other party. Moreover, the advantage of enjoying the business profits alone is yet another charm for the proprietors to go for this option (Boone & Kurtz 2008). They are free to reinvest the whole profit that business generates or withdraw it wholly without any need to justify their decisions. In addition to all these benefits, sole proprietorship is also beneficial when the business is required to be dissolved. The simple structure helps in uncomplicated closure of the business. Regardless of the benefits this form of business brings, the disadva ntages must be kept in view when making a decision regarding the expansion of your business. The autonomy that sole proprietorship brings is accompanied with the risk of losing all business and personal assets in case of any liability against the business.  

The Functions of Gendar and Power within our Society Essay

The Functions of Gendar and Power within our Society - Essay Example Because the body image is integral to identity, for a woman to protest that these expectations are not realistic and perversely adolescent is to admit she does not possess it. In The Beauty Myth, Naomi Wolf (2000) states that a womans compulsion to diet and wear makeup can largely be blamed on a society that assigns value to women in a vertical hierarchy according to a culturally imposed physical standard. It is an expression of power relations that has women competing for the privileges of employment and status that men have secured as rightfully theirs (Wolf, 2000), and in a comfortably patriarchal society is important to control those women whom second wave feminism would have otherwise made relatively uncontrollable. As long as women are compelled to wear makeup and conform to an elusive beauty archetype, the seeds of the feminine essence remain. The expectation firmly places women below men in the gender order, as the sex which must prove its femininity in order to enter the masculine realm of employment, politics and to gain power (Ragins, 1999). In conclusion, the power relations in the gender order still remain in favor of man. Early feminists believed that femininity contrasted many womens lived experience, but it was not exposed as a false ideology, rather the women who questioned it were exposed as unfeminine. Women across the world experience gender discrimination in different forms and cultural stages, and even though gender impartiality is becoming stronger by the decade, this social difference is still deeply in control of cultural practice around the world, particularly in Africa, the Middle East and oriental Asian states such as China. Inequity next to women in the developing world is an overwhelming authenticity. It consequences in millions of entity tragedies, which add up to lost prospective for whole countries. (Mullins, 2005) Worldwide studies have exposed there is a direct connection between financial growth and a countries

Black Female Executives in Corporate America Essay Example for Free

Black Female Executives in Corporate America Essay Black female executives are a symbol of what determination and hope can achieve that despite the odds and perceptions, people can achieve anything they set themselves on regardless of their cultural backgrounds. Reaching the top for these women has been a journey which dates back way before slavery when women lived and followed the African traditional settings which governed every aspect of their lives. In this setting, the women were subordinate to their men and their duty was to look after their families. Evolution has since changed these perspectives after the civil war that liberated the black people such that they were able to own property and even work in state organizations. In addition, the African people had the power to be educated. Over the years, African women have continually struggled to be the best academically as well as professionally such that they have even outshone their fellow men. â€Å"By 1994, there were more black women as compared to the black men who were employed especially in white collar jobs in corporate America (Tucker, 1994). † Thanks to institutions like Equal Employment Opportunity Commission (EEOC), there has been significant growth of blacks taking up leadership roles in corporate America (Benjamin, 84). In the managerial positions, black men are slightly more than the black women but still the number of women in managerial positions between the years 1982-1992 had increased by 64% (Tucker, 1994). This positive figure has encouraged other black women to undertake leadership roles hence adding up to the increasing figure. Black women representation in the corporate organizations cannot be compared to the rise of white women in the top managerial positions whose numbers have increased over the last decade. This is illustrated by 32% of white women managers who were executive leaders as compared to 14% African American women in similar positions who earned less than them in the year 2000 (Ely, 2003). This shows that as much as the black women are making it ‘big’ there are several factors that hinder their rise to such positions. â€Å"By the year 2001, African American women remained in the shadows and remained invisible hence they were ranked in the corporate businesses either according to gender as well as race (Bell Nkomo, 2003). † Reasons for lack of black females in executive positions Though there are a few known black women executives in the corporate world it does not necessarily mean that they are not learned enough or that the positions are limited. The major issues limiting the black woman from getting to the top of the corporate ladder are gender and race. Certain stereotypes which are mostly negative are likened to the black female. â€Å"They are considered to be aggressive and very direct (Caver, 2002). † Such characteristics make them unsuitable for leadership positions in big organizations hence limiting their chances of advancing their careers. Black women are not exposed to educational opportunities like their male counterparts as well as white people. This is because most of them come from poor backgrounds and therefore their education is limited up to a certain level when the funds they have can allow. That is why they usually get casual jobs and work as subordinate staff in organizations. Another issue that has contributed to the lack of black females in executive positions is the perception that such positions are the strongholds of men hence organizations mostly employ male colleagues. These factors make it harder for the black women to be promoted to executive positions as they are not only judged by the way their race but also according to gender. Challenges the black women executives face The rise of the women in the corporate world does not really mean that it is all rosy at the top. Though the experience is rewarding some of them are frustrated. The few African American women in executive positions are faced with several challenges in the course of their work. They have to continually convince people and prove to their colleagues that they have what it takes to run organizations. To begin with their salaries are low as compared to those of their fellow black men in similar leadership positions. Most of the African American women in the top managerial positions are considered as vulnerable employees. They are given those positions that can be easily scrapped off when the company restructures itself (Tucker, 1994). They do not therefore get the chance to play major roles in organizations especially in terms of decision making as sometimes they do not have jobs to do. This makes them feel inactive and feel as if they were just put in those positions to enhance the good image of the companies they head as being good an equal employer. â€Å"Some companies just put the women up there so that they can show their corporate allies that they are not biased against any race or gender (Lamont Molnar, 2002). † †¢ Lack of strategic relationships Relationships define how people will relate with each other in the organization. When the black women are not supported by their employers, then it becomes hard for them to relate with them in proper ways and this affects their work relationship. The relationship between black and white women in the workplace is also strained. This is because white women do not interact often with black women on organizational matters hence they have little knowledge on some of the racial perspectives; the black women have to deal with. â€Å"They feel white women do not care about black women issues and concerns (Caver, 2002). † This has made the black women feel betrayed by them and no wonder they do not relate with them well (Bell Nkomo, 2003). This scenario has strained communication between the two groups and they never engage in constructive activities. They have been reduced to clicks that support their own members and rarely will they support the promotion of the opposite colleagues to such leadership positions. If the black women cannot relate well internally with their colleagues, it is therefore hard for them to form corporate relationships with people from other organizations as well as their clients as they do not have people within the organization to link them to other business relations. †¢ Lack of mentoring and support African American women are never mentored; and if, on a limited scale. â€Å"This is because they are thought to have nothing in common with their white counterparts as well as black men (Caver, 2002). † Moreover, it is difficult for the black woman to fit in the white male-oriented ‘positions’ which is limited by the negative, historical, sexual racism between black women and the white men (Benjamin, 2005). For this reason, they do not get to improve on their leadership skills hence it is hard for them to be promoted to higher positions. In addition, when other people will start performing better than them, they are said to be incompetent and therefore they risk losing their jobs. The society is also not showing support for the black women corporate leaders who have managed to beat all odds and be the best. This is more so seen in the African American community where people think that they use their high positions to intimidate them. No wonder it is hard for them to find suitable husbands as the males feel threatened. †¢ Trust issues The few black women executives who are there are not trusted to make strategic and informed decisions by other colleagues in the workplace and that is why they have to struggle so much to build this trust which takes a long time. This is why some black women who can no longer cope with the pressure resign from their jobs. This has led to an increasing number of black women quitting their jobs. This is why the CEO as well as other colleagues in the workplace are left to wonder if race determines commonality or whether gender connects across racial lines and if the black women have their own leadership style that helps them navigate in the hierarchy (Bell Nkomo, 2003). †¢ Lack of access to business development opportunities Leaders need to continually sharpen their skills so that they are able to tackle problems that arise in the business cycle. Black women are usually sidelined in major activities and this limits their chances of growth in terms of acquiring skills and building strategic alliances. For example, a project may be designed which may entail people going for training but surprisingly, countable black women; if any, will be short listed. This makes them feel like an extra burden to the organization. †¢ Balancing work and personal life Just like all women, African American women have to place their families before everything else. They therefore have to ensure that they balance their personal lives as well as their works lest they fail in all of them. Sometimes it is not easy as in every place they are faced with issues and sometimes they do not have colleagues whom they can turn to for help. Impact on the black female work population The statistics might show that black women positions in leadership positions have increased but the experiences of African American women in such positions reveal another thing. Some women have said that they have watched their subordinate colleagues some who are not qualified be promoted to higher ranks while they, who have served the companies for longer periods, are stagnant in the same positions. â€Å"In addition, when they give ideas on anything, they are not taken seriously and this is adding up to their frustrations (Hesselgrave, 2009). † Such scenarios have made them feel diminished, have low self esteem and not feel like part of the organization. This has made them emotionally as well as psychologically disturbed as they cannot come to terms as to why so much hatred and seclusion is still in the society. The lack of back women executives in corporate America is not doing much to encourage young black women professionals to take managerial careers. They see on a daily basis on how their fellow black women in the corporate world are treated and nothing much is done to solve the issues. Some black women have had to succumb to offering sexual favors and bribes if they really want the positions. Such negative factors make the young ladies not wanting to be in such vulnerable positions hence they will opt to choose careers that they find pleasure in. Another impact is that organizations have been divided along racial and gender lines when ‘their own’ are not promoted to executive positions. This has inhibited progress in the organizations as decisions can not be made effectively because employees are not communicating and they are not performing well at their work because their issues are not being addressed. â€Å"This has also brought in unhealthy competition in the workplace as the different groupings of people have to find fault in each other so that they can use the raised issues as an excuse to make them appear better so that they can be favored (Ivancevich Gilbert, 2000). † In some instances, it has led to the formulation of policies which the minority group in this case, the African American women, use to give them an edge over other colleagues. Recommendations Women of all races play a major role in corporate organizations and that is why they should be encouraged to take the top most leadership positions if they are qualified. Some of the factors that need to be considered in promoting African American women in leadership positions include: ? Encouraging more black women to pursue leadership positions Educating and sensitizing the young black girls at a young age is important so that they take up leadership courses. This will make them more open minded at an early. The Federal State therefore should ensure that there is equitable distribution of resources such that black children can access proper schools like the rest of the children in major cities. African American women also need to be trained on political skills so that they are able to lead people in the proper manner thus become competent. ? Equal treatment Affirmative actions and the formation of women movements have played a vital role in rallying for equal treatment of women. More needs to be done so that the women can feel like they are part of the organizations they serve. The managers should therefore diversify employee groups and continually monitor to see how they are progressing and help then overcome the challenges they face. â€Å"The top managers should also be able to identify black women who are skilled and help them grow within the organizations they head (Lamont Molnar, 2002). † The human resource heads should therefore ensure that they recruit they staff equitably and not based on any kind of biasness so that when it comes to making decisions or selecting the right candidate for a particular top office, all the people will be represented therefore the right candidate will be chosen regardless of their back grounds. ? Respect and trust Respect starts with an individual when they identify their needs and they treat others the way they would like to be treated in return. Respect is a very important virtue that should be in every code of conduct since it determines how people will be treated. â€Å"Sometimes when white male superiors and black female subordinates as they are trying to amend their relationships they are faced with difficulties because of the lack of basis for identification which is mainly attributed to the fact that the motives behind them are not sincere (Thomas Gabarro298). † Without respect, then there is no trust as individuals will not trust people who treat them badly. People therefore need to learn to respect black women because it is the only way that will help them salvage their relationships, ease communication and enhance understanding each other so that productivity of the company can improve. It is also advisable to find trust agents if the matters in the organizations are too complex for the members to solve. Having an independent party helping employees and management to solve their problems will be good as they will not be biased. ? Educating the other employees on the negative effects of discrimination is also a positive step towards creating room for black female executives. Conclusion Operations in organizations are changing slowly by slowly to accommodate cultural diversity and people are beginning to embrace the work done by the black women as well as other minority groups. Black women executives nowadays can be found in almost all departments in the workplace and have even gone a step further to head multinational organizations. â€Å"Even in the wake of civil rights and women movements which have helped bring about gender equality, black women executives still face many challenges. African American women need to work harder to face out racism especially in this ever changing diverse world (Burk NCWO). †These women need to be supported in the work they do rather then being put down as they are also human and they deserve respect just like other individuals in similar positions in the society. Corporations therefore need to change their cultures and philosophies so that they attract more black women and retain them. Black women also need to show that they deserve the executive positions by being passionate about the jobs and ensuring that they are qualified for the positions. References Bell, E. L. J. Nkomo S. M. (2003). Our Separate Ways: Black and White Women and the Struggle for Professional Identity. Harvard Business Press, 5, 239, 5 Benjamin L. (2005). The Black elite: still facing the color line in the twenty-first century 2nd Ed. Rowman Littlefield, p. 70 Caver K. A. (2002). Leading in black and white: working across the racial divide in corporate America. John Wiley and Sons, 78, 80, 81 Ely R. J. et al. (2003). Reader in gender, work, and organization, Wiley-Blackwell, 2003 p. 343 Hesselgrave B. (2009). Business and economics. Under the Glass Ceiling? Throw Stones! Retrieved on April 2, 2009 http://www. miller-mccune. com/business_economics/under-the-glass-ceiling-throw-stones-1023 Ivancevich, J. M. Gilbert, J. A. (2000). Diversity Management: Time for a New Approach Journal of Public Personnel Management, Vol. 29 Lamont, M. Molnar, V. (2002). The Study of Boundaries in the Social Sciences Annual Review of Sociology journal, p. 12 National Council of Womens Organizations Burk M. (2005). 50 ways to improve womens lives: the essential womens guide for achieving equality, health, and success World Library, 2005 p. 124 Thomas, D. A. Gabarro J. J. (1999). Breaking Through: The Making of Minority Executives in Corporate America, Harvard Business Press, Tucker S. H. (1994). Black women in corporate America: the inside story; executive women discuss real-life workplace issues that face black women today Retrieved on April 2, 2009 http://findarticles. com/p/articles/mi_m1365/is_n1_v25/ai_15643636/

Factors That Attract Tourist To The Caribbean Tourism Essay

Factors That Attract Tourist To The Caribbean Tourism Essay It is considered to be the most important aspect of the hospitality industry, to demonstrate high levels of quality service. The hospitality industry emanates from the principle that the customer needs to be treated with priority, and should see incomparable value in the service delivered. Customers will be willing to spend their last dollar on services that surpass their expectations. On the contrary, dissatisfaction with service rendered will have customers look elsewhere for value offerings from the competition. Some hospitality Industries may provide the best service, but if these industries are not efficient and innovative with services offered, they may lose an important customer and several other referrals. These industries have to be cognizant that if their customers are not satisfied, they may lose the opportunity to break even and to keep their doors open. Understanding that customers are the wind that keeps the company above ground, they have to keep learning how to constantly innovate to meet high expectations and provide good service. The customer should be the center of your universe and the services provided should be designed around your customer. Quality in the hospitality industry also involves consistent delivery of products and improved guest services according to expected standards. They are various tools that measure and improve quality service, as well as mechanisms for quality recognition in the hospitality industry. One such mechanism is the systematic method of Quality assurance which refers to any planned and activity directed towards providing consumers with goods and service of appropriate quality, along with the confidence that they meet customer requirements. The hospitality industry thrives on convenience. If your customer service is missing this essential ingredient, your business wont last long unless you bring about changes that demonstrate your commitment to customer satisfaction. Hospitality industries were built to offer the basics of convenience to customers. Today, as the industry is expanding and the competition is growing, hotel conglomerates are getting innovative and thinking of means to achieve the highest standards in convenience offerings. Customers are now making their decision on which Hotel they stay base on remarks made about the accommodation from previous quest. So it is essential that these industries ensure that they maintain high level of customer satisfaction to grow customer visit/stay. Unlike the Hospitality Industry, some services and goods manufacturers will never meet with customers face to face. They often will only ensure that the product gets to the customer and satisfy their needs. However the Hospitality Industry cannot offer this same method of services. The industry can never survive unless customers get and feel of what they are buying into. These industries are service oriented, but retail industry speaks to good for resale. Retail companies have their nest of challenges too, they have to figure out where they are going to manufacture it, how to get the product to the market who wants to sell it, and once its in the market how to promote it. Even with all the challenges faced by the retail industries the hospitality industries face greater difficulties as they have to use the same service being constantly innovative in keeping the demand for such product lucrative. Hence one can assume that the hospitality industries require far more attention to mainta in its relevance COMMUNITY-BASED TOURISM PROS:- Community-based tourism is an alternative tourism product being developed in Jamaica and to some -extent, in the Caribbean region. The intent behind this cultural up-close opportunity is to meet the varying needs of the local and overseas vacationers seeking a natural experience. Traditional tourists in search of sun, sand and sea still remain the largest segment of the tourism market. There is, however, a growing market for an alternative tourism product that is heritage-, cultural- or nature-based in a rural setting. This presents an opportunity for Jamaica to position itself to offer a wide array of tourism products. Community tourism is not a brand of tourism, but rather a type of ownership and management arrangement. One set of alternative tourism products focuses on Jamaicas history, culture and nature-based attractions in rural communities outside the main resort areas. This method of tourism is one or a combination of tourism products offered at a community level to domestic or international visitors. In the Jamaican context, community-based tourism usually refers to visitor interaction with local people in rural areas. This based tourism has the potential to significantly boost employment. Community tourism is about new levels of relationships between the host country (Jamaica) and the visitors. What is a appealing to the visitor is found among the varied natural attractions, local resources and talents, and indigenous attributes of the Jamaican communities. Community based tourism enables tourists to discover local habitats and wildlife, and celebrates and respects traditional cultures, rituals and wisdom. The community will be aware of the commercial and social value placed on their natural and cultural heritage through tourism, and this will foster community based conservation of these resources. Community-based tourism affords travelers with rare opportunities to experience local communities first hand. Its distinctive in that it provides an alternative to development thats not sustainable, giving rural and poor communities an additional source of income in supporting community-based tourism; you can immerse yourself in the day-to-day lives of local and indigenous people while helping them to preserve their environment and cultural heritage. The residents earn income as land managers, entrepreneurs, service and produce providers, and employees. At least part of the tourist income is set aside for projects which provide benefits to the community as a whole. Tourists will spend time near areas that are rich in culture and biodiversity, and, at the same time, will get to know the locals at the grassroots level. CONS:- Whilst many will argue that community-based tourism will strengthen the local structures of the communities they are others that will say that it has seen some negative impact of the same or no impact at all. In many cases, tourism does not benefit local people as too much money is spent on imported goods or with foreign tour operators and only urban areas see some economic benefits, Money generated by tourism does not always benefit the local community, as some of it leaks out to huge international companies, such as hotel chains. When tourism sectors arent properly monitored, its impacts can be grave. Trending from land and housing taking over for tourism infrastructure, eroding social and cultural norms, whilst encourage begging and prostitution. Successful community-based tourism relies on establishing a basic infrastructure, such as roads, visitor centers and hotels. The cost of this usually falls on the government, and is funded by tax revenues. Jobs created by tourism are often seasonal and poorly paid, yet tourism can push up local property prices and the cost of goods and services. Destinations dependent on tourism can be adversely affected by events such as terrorism, natural disasters and economic recession. Visitor behavior can have a detrimental effect on the quality of life of the host community. For example, crowding and congestion, drugs and alcohol problems, prostitution and increased crime levels can occur. Tourism can even infringe on human rights, with locals being displaced from their land to make way for new hotels or barred from beaches. Interaction with tourists can also lead to an erosion of traditional cultures and values. Tourism poses a threat to a regions natural and cultural resources, such as water supply, beaches, coral reefs and heritage sites, through overuse. It also causes increased pollution through traffic emissions, littering, increased sewage production and noise. Communities are encouraged to weigh the cost of these project and development to ensure that the introductions and implementations of these community oriented tourism, will bring about more benefits in the development of its social, environmental and economical framework. Factors that attract tourist to the Caribbean:- The Caribbean region attracts tourist seeking a family or exotic romantic getaway, or a sunny break from the harsh cold winters of their countries. Offering year-round sunny, warm weather with cool breezes, tropical beaches, cultural carnivals, peace and tranquility and delicious food; its perfect vacation location, especially for Canadians, Europeans and Americans. Ease of Access For most people living in the northern hemisphere, the Caribbean is the quickest getaway destination where they can be on a beach with a colorful drink in one to four hours. The Bahamas, for instance, has islands that are barely 50 miles away from Florida. This has made the Caribbean a favorite of many travelers and contributes to tourist growth. Airlines continue to create more flights such as the JetBlue route from both Boston and New York to the Turks and Caicos. And for those who prefer not to fly, there are several cruise ship options. These include the Royal Caribbean Cruises that visit the Bahamas, St. Thomas and the Disney Cruise Lines, which are tailored for families. Cost As noted above, there are many options for getting to the Caribbean. as a result, reaching the region is equally affordable, especially when compared with other destinations in Europe, Asia and even parts of Latin America. You can find an affordable ticket for a quick trip during off season when there are fewer tourists. And for large islands with airports that are hubs for air carriers, like the Bahamas and Puerto Rico, cheap tickets are available almost year round. And upon arriving, visitors can enjoy themselves without going broke. Save, for sure, if they choose to shop at prime luxury stores, this affordability is an essential factor in the regions tourism growth. The mild and tropical climate along with the long and extensive soft sand beaches, the palm trees aligning the beaches and the sweet aroma of the tropical flowers and fruits in the air, has rendered much to the Tourism in Caribbean. The lush green environment, the charming sunrise and sunset views, the turquoise lagoon, the warm waters of the ocean and spectacular views of the sea, all combine together to make the Caribbean countries perfect spots for an unforgettable holiday retreat. While in the Caribbean tourist also shop. They shop for various products including garments, beachwear, shoes, accessories, souvenirs, gifts and handicrafts. The small shops along the beaches are ideal places to shop for the local artistic goods at reasonable prices. Accommodations The Caribbean has a variety of accommodations from high-end luxury resorts to bed and breakfasts and everything in between. These options mean that visitors of all economic levels can come to the region. But in addition to the accommodations is the affordable cost. Resorts and hotels continue to present competitively priced accommodations that attract visitors. Reputation The Caribbean has been visited by tourists since the 1800s, and tales of its beauty and relaxing environment precede it. In fact, the Royal Victorian Hotel was built in the Bahamas during the American Civil War, one of the first such establishments in the region. This continuing good reputation makes it easy for tourists to visit for the first time or return for a repeat vacation. Also, the region is known for being safe, alleviating concern from families and single visitors. Events and Conferences Events and Conferences are also major reason people travel. The Caribbean is the perfect destination for conferences and event planners. Its natural beauty and climate is just amazing. Questionnaires What is it that you do exactly? What do you enjoy most about your job? What are the roles and responsibilities of a hotel manager?   What job specific tasks did you performed in your previous hotel?   What is your area of skill?   What are some of your weak points?   What qualifications, skills and abilities do you have? Can you tell state some of the different sectors in the hotel industry? Answers What is it that you do exactly? I am responsible for the entire operation at the Spanish court hotel, making sure that all our guests are happy and want to come back and also recommend our hotel to their family, friends and colleagues. Its fun to work closely with all the different Heads of Department towards the same goal of offering excellent guest services. What do you enjoy most about your job? To be fortunate to do what I am passionate about. I love all the various aspects of the capital city hotel. Its the contact with the guests at the lobby, welcoming them to our executive lounge, inviting people  for a thrilling wine and dinner in one of our amazing restaurants, as well as Working with colleagues and associates. Am swollen with pride of what I do, and of the hotel I work for. What are the roles and responsibilities of a hotel manager?   A hotel manager has to perform large number of important roles and responsibilities. He or she must ensure that the hotel is been managed properly and is required to prepare a yearly reports and submit them to the hotel owner. They even set hotel service standards as well as choose extra services or amenities to make the hotel more appealing to travelers. What job specific tasks did you performed in your previous hotel?   The job specific tasks which I performed include training newly recruited assistants, creating and delivering the payroll records, managing records of employees, motivating employees and managing different programs and seminars to increase efficiency of workers. I even handled and coordinated the food and beverage operations for a period of time. What is your area of skill?   I have specialization in financial and strategic planning, profit and loss management, hotel administration, accounts maintenance, marketing, housekeeping, food and beverage management, catering and maintenance. What are some of your weak points?   This is a nice question which gives you an excellent opportunity to put an optimistic turn on something negative. You have to shape your negatives into positives. Like in weakness you can say that I am way too focused towards my work and I think I should make time for myself. It is very important to be prepared for an interview. During the course of an interview, you may be asked a variety of questions. Just one bad answer can stand out and cost you the job. So be prepare and practice well before interview. What qualifications, skills and abilities do you have? I have plenty experience in this field, possess good knowledge in all phases, departments and shifts of hotel operations. I have supreme guest relation skills especially in creating special touches and resolving guest problems and concerns. I have strong computer skills and I can easily operate hotel systems. I have worked successfully in team as well as individual work environment. Can you state some of the different sectors in hotel industry? Sectors in hotel industry are housekeeping, accounting, maintenance, public relations, security, sales, food and beverages, and front office. Housekeeping this sector is responsible for the spreading of beds and making sure the rooms is kept up to standard for our guest. Accounting maintain the general and subsidiary ledgers; process and record all revenues and prepare general purpose financial statements. Maintenance This department is responsible for the condition of engineering facilities that contribute to the comfort of guest and increase the efficiency of staff. Public relation- responsible for managing the flow of  information  between our hotel  and the  public. Security to protect the guests and staffs of the hotel, including all of our assets. Sales- The sales department is the channel of how well our services are introduced to the marketplace. Food and Beverages this Department is responsible for maintaining high quality food and service, food costing, managing restaurants, bars, etc. Front office Members of the front-office staff welcome the guests, help with their luggage, and assist in registering, provide them with their room keys and mails, answer questions about the activities in the hotel and surrounding area.

Economic recovery program of Ghana

Economic recovery program of Ghana CHAPTER ONE 1.0 Introduction This chapter attempts to provide an overview on the problem statement of the entire research work, objectives of the study, relevance of the study, methodology applied as the research unfolds and the organization of the study. 1.1 Background Ghana is one of the fast emerging developing countries in West Africa with twice the per capita output of the poorer countries in West Africa. With well endowed natural resources, Ghana still relies heavily on international financial and technical assistance. Gold, cocoa and timber are the major sources of foreign exchange. The introduction of Ghanas Economic Recovery Program (ERP) in 1983 to recover the initially very weak private sector participation did improve consistently but although still levels were modest during 1987-91. Over the past years Ghana has witnessed dynamic changes in its private Sector. The number of banks has increased from 9 in 1989 to 21 at May 2006 (www.bog.gov.gh). These banks serve a prominent role as corporate entities that provide investment capital in the economy to support employment opportunities, human resources development and contribute towards national and community development programmes (Aryeetey, E. Gockel, F. 1990). They primarily furnish loans to individuals and companies to finance various projects which lead to economic and private sector development. Brownbridge, M., Gockel, A.F. (1997) are also of the view that these financial institutions support savings and investment in the economy, which plays a major role in the overall development in terms of increasing productivity of resources in the economy. They further highlighted that this role of banks in the Ghanaian economy is crucial, in that shortcomings in the industry directly affect the trend of economic growth. In recent times Ghana has discovered crude oil, which is expected to boost the economic growth by bigger margins. Ghana has a unique welcoming attitude towards foreign investors; the long political stability of the country has attracted a lot of business investors to establish businesses in the country. The rate of foreign investors has not reduced as better prospects in doing business in Ghana are yielded in the long-run. The political state of the country has also been very peaceful with a vibrant atmosphere to establish businesses. During the fifth banking awards ceremony in Accra, Dr. Paul Acquah (Governor of Bank of Ghana) revealed that the banking industry in Ghana has become highly competitive due to the increased sophistication of customer needs coupled with tremendous global competition. He further stated that these reasons over the years have been the driving force for banks, in particular private owned banks, to focus on increasing shareholders value, delivering superior services aimed at achieving over all customer satisfaction and value. The concept of competition has introduced an overwhelming challenge among organisations worldwide. Most organisations are forced to compete by promptly responding to changes in national and world economies, technological changes, new business environments, cultural diversity and deregulation in emerging capital markets to improve overall organisational performance. Privately owned businesses in Ghana are constantly entwined in this fierce battle of global competition and the pressing need to sustain its existence in the growing rate of change in its environment. Recent trends in the Ghanaian economy have revealed that keen competition in the business sector has been as a result of an open market which promotes private sector participation. Though most private owned organisations have managed to survived, a considerable number of them do fail due to reasons not limited to economical and financial factors. A study conducted by Dun and Bradstreet (cited by Gaughan Patrick A. 1999, pp. 432) reveals that there are three most common factors that cause business failure such as economic, financial and experience factors (refer to Table 1). In some developing countries market forces are completely eliminated as a result of controls imposed by the ruling governments. These controls create adverse effects on the economy such as large fiscal deficits coupled with weak macroeconomic management leading to high inflation in the economy. The consequences are generally felt by banks and other non-banking institutions, in that, loans borrowed by individuals or organisations are not paid back due to economic hardship (Brownbridge M., Gockel A.F., 1997). According to Pfeffer J. (1994; p. 6), People and how organisations manage them are becoming more important because many other sources of competitive success are less powerful than they once were. He emphasises the fact that in recent times most organisations rely extensively on the traditional sources of competitive success such as product and process technology, regulated markets, access to capital resources, and economies of scale which provide an insignificant competitive influence as compared to the past. He further argues that organisational culture and potential employee contributions derived from managing employees in an organisation are crucial as compared to the traditional sources of competitive success. Employees have been referred to as assets to a firm or an organisation when they possess the right skills needed to work effectively and efficiently (Odiorne G. S, 1984). However, these employees may possess diverse capabilities that lead to various potential contributions to an organisation because of previous education, experience, or individual qualities. In view of the fact that employees contribution to the organisation determines extensively competitive success, their individual skills are considered vital (Pfeffer J. 1994). 1.2 Problem Statement The gradual transformation of Ghana has had a lot of positive feedback from other nations, but will this transformation termed economic growth survive the long-term or would it collapse somewhere in the future? What are the main strengths and weaknesses of the private sector? Will the private sector support sustainable development? Has Ghanas initiative to increase private sector participation been successful? What measures has Ghana taken liberalize its economy to encourage private sector participation? Recent discovery of crude oil (black gold) in Ghana has brought higher hopes to accelerating the countries development goals into reality. This is what the recent ex-president of Ghana, President John Kufuor had to say in an African programme with the BBCs Focus Were going to really zoom, accelerate, and if everything works, which I pray will happen positively, you come back in five years, and youll see that Ghana truly is the African tiger, in economic terms for development. Will this oil discovery further attract new entrants into the financial sector and in the affirmative will this promote a competitive private sector environment? 1.3 Objectives of the Study The main objective of this thesis is to show the role of the private sector in contributing to business competitiveness and economic growth. The research limits its focus on the inflow of private non-financial and financial institutions in the Ghanaian economy as a result of the introduction of Financial Sector Adjustment Programme (FINSAP) in Ghana. The economy over the years has witnessed an increase in private sector participation, which has significantly promoted business competitiveness and contributed to a vibrant economy at large. Table 2: SMART Objective of the Study Strategic Operation Tactical Specific Evaluate the role of the private sector (Privately owned financial institution) contributing to business competitiveness and economic growth. Present a platform for private sector participation in economic development. Provide a primary evaluation for developers and investors who aspire to do business in Ghana. Measurable To fall within the framework of the private sector and factors leading to business competitiveness and economic growth. Increase real GDP. Impact of the private sector on economic growth. Note government policies that would prevent adverse effects on critical sectors of the economy. Attainable To recommend effective and sustainable business development strategy and policies that will enhance more participation in the private sector. Increase economic growth and improve effective and efficient business plans. Embark on comprehensive business competitiveness and productive performance within the various business sectors. Realistic The research will look extensively into government development goals as well as the private sectors role in development. Access to economic reports surveys from IMF. Ghana Government reports on development projects. The IMF monitors on a yearly basis the economic situation in Ghana. Time-Limited To complete the thesis within two months. This thesis expects to propose recommendation based on the information available at the time of writing. The recommendations and proposals are expected to be considered and if applicable implemented by other developing countries as well. Source: Self-prepared. Specifically, the thesis critically focuses on the following: The role of the private sector (privately owned financial institutions) contributing to economic growth in Ghana. To investigate the driving forces of Ghanas emerging markets. The role of the government promoting the private sector. The challenges and constraints facing the private sector. To evaluate the strategies being employed by Ghana in the private sector and its impact on the economy. 1.4 Significance of the Study The study will be beneficial in many respects: To help identify the success and bottlenecks of the significant economic contributions from private sector with regards to its contribution to economic growth business competiveness. It also reviews the strengths of the financial sector to support expansion of the private sector development and more importantly availability of credit facilities to promote businesses. It will help investors to get a fair idea of business establishment opportunities. To help formulate strategies to help implement better policies and promotions for the private sector development. 1.5 Methodology This study uses secondary data and literature to evaluate the topic. It also uses SWOT analysis to examine the strategic position of Ghana in improving its economic and business areas. The research will employ the use of CAMEL approach as the overall framework to evaluate the financial strength and stability of the Banking Industry in Ghana, where; C Capital adequacy, A Asset quality, M Management capability, E Quality and level of earnings, L Adequacy of liquidity 1.6 Organisation of the study The paper is divided into five chapters. Chapter one presents the introduction, problem statement, objectives of the study, significance of the study, methodology and the organisation of the study. Chapter two gives an overview of the Ghanaian financial sector as well as reasons that led to the financial sector reforms. Chapter three gives an overview of the Ghanaian private sector. Chapter four uses CAMEL approach to analyse 4 major privately owned financial institutions. The final chapter looks at the overall findings, conclusions and recommendations. CHAPTER TWO 2.0 Overview of the Ghanaian economy This chapter provides an overview of the Ghanaian economy and the Ghanaian Financial System. The chapter also looks at reasons that led to the introduction of the financial sector reforms, a SWOT analysis of financial sector adjustment program (FINSAP I II). Ghana is one of the developing countries in sub-Saharan Africa that introduced structural and economic reforms to address its extensive macroeconomic shortcomings, reduce poverty and to liberalize the financial sector. The broad money/GDP ratio fell significantly to 12.5% in 1983 as compared to 29% in 1976, whiles currency/M2 ratio also decreased from 35% in 1970 to 50% in 1983. Bank deposits decreased from 19.5% of GDP in 1977 to 7.4% of GDP in 1984 because there was lack of confidence in the banking industry (Brownbridge, M., Gockel, A. F. 1997). During the 1980s the Ghanaian economy was hit by the most devastating economic crisis (www.bog.gov.gh). This gave rise to numerous extensive economic drawbacks in the Ghanaian economy. Leechor Chad reveals in an article published by the World Bank the following economic crisis that plagued the Ghanaian economy between the years 1982 to 1983: The countrys power systems, communication, postal and railway services ceased to function properly and the whole country was in a state of chaos. Tax collection had declined to about 5% to GDP, investment dropped drastically beyond the level required to maintain capital stock. Real income per capita which was continuously diminishing for a decade was a third below the level reached in the early 70s as at 1983. Foreign exchange reserves deteriorated considerably. The Ghanaian economy was heavily controlled by the government in terms of setting unrealistic interest rates and sectoral credit ceilings; banks were forced to focus on lending to priority sectors (agriculture, export and manufacturing) regardless of the borrowers performance in terms of profitability and their capability to payback the loan. The economy was regulated to foreign investments and the strong existence of strict capital flow regulations (The Corporate Guardian, July-September 2006). Governments heavy intervention in the financial system set the stage for economic shortcomings a few such as lack of competition, high incidence of inefficiency, hardship and the escalating rate of non-performing loans (Leith, C. J., Sderling, L. 2000). Since the late 1980s, the government of Ghana continued to implement financial sector reforms as an integral part of its ongoing Economic Recovery Program (ERP) (Brownbridge, M., Gockel, A. F. 1997). Ghanas enthusiasm to initiate the ERP with close collaboration with the International Monetary Fund (IMF) during the year 1983-85 was to liberalise the financial sector and establish an open market-based economy by eliminating price ceilings, reducing the influx of foreign imports, diversifying viable sectors of the economy and stabilizing fiscal deficit. Ghana in 1984 launched the Structural Adjustment Program (SAP) with the primary aim of reducing its involvement in the economy and allowing the free interaction of demand and supply (The Corporate Guardian, July-September 2006). However, during the period 1983-88 the performance of the banking industry deteriorated with high levels of non-performing assets (NPAs) and inefficient deposit mobilization which made most public banks insolve nt (Leith, C. J., Sderling, L. 2000). The government launched the first phase of the Financial Sector Adjustment Program (FINSAP) in 1988. This was to fully deregulate as well as liberalize the financial sector and improve resource allocation within the various sectors of the economy (www.oecd.org). Since 1983, Ghana has attached great importance to its divestiture initiative program. About 200 stated-owned enterprises (SOEs) were being considered for diversification under governments ongoing privatization initiative. At the end of the last two years, government still owned 35 enterprises valued at more than 60% of GDP in 2003 (IMF Survey, 2005). Governments expenditure during 1986-1991 increased and this called for policy reforms to enable government to meet its high spending. Government depended on the tax system to support its high level of spending. The Parliament of Ghana in 1993 increased tax on petroleum. However, the tax system could not supplement its GDP share to match the expenditure. Consequently this brought about deficit financing. Government resorted to other forms of financing its expenditure such as extensive borrowing from the Central Bank (issuing new notes), public and foreign borrowing, and privatization of sate-owned enterprises (Leith, C. J., Sderling, L. 2000). Over the years, Ghana has witnessed a massive transformation in its economy as a result of continuous implementation of financial sector reforms to deregulate the economy and stimulate savings, investment and growth. The Central Bank is constantly implementing policies adopted under FINSAP to ensure the entrants of privately owned financial institutions, free interest rates, stabilize the cedi against foreign currencies, encourage the flow of foreign investment and allow easier access to credits (www.bog.gov.gh). The Ghana Stock Exchange (GSE) was set up in 1989 as a private company limited under the Company code. The Stock Exchange act of 1971 (Act 384) allowed it to function as an authorized Stock Exchange. The Securities Industry Law PNDCL 333 (1993) as amended bestowed regulatory rights to the Security Regulatory Commission (SRC) with its main function to register, protect, assist and supervise all stakeholders in the securities market. In April 1994 the Ghana Stock Exchanges status became a public company limited (www.gse.co.gh). At the end of 2003, listed companies equity increased to 26 as compared to 22 in 2002 (www.gipc.org.gh). The performance of the Ghana Stock Exchange (GSE) has improved tremendously. All-share Index increased by 91.3% in 2005 as compared to 154.7% in 2003 (ISSER 2005). Flow of foreign investment increased from $110.0 million in 2003 to $139.3 million in 2004. In 2004 the cedi depreciated by only 2.2% against the US dollar, 10.7% against the Euro and 12.1% against the pound sterling. There was quite an improvement in the value of the cedi as compared to the previous year (2003) when the cedi depreciated by 22.5% against the Euro and 13.0% against the pound sterling. Average inflation fell from 26.7% in 2003 to 12.6% as at December 2004 (ISSER 2005). Ghana is the second largest producer and exporter of cocoa; the agriculture sector accounts for about 50% of GDP and is considered the backbone of economic development (www.ghanaweb.com). Real GDP growth in 2004 was 5.8% (www.gipc.gh). The tremendous performance of the Agricultural sector has supported Ghanas remarkable rate of economic growth over the years. The Agricultural sector contributes significantly to GDP growth. In 1990 GDP increased by only 3.3%, this was due to the negative 2% growth rate in the Agricultural sector that year. The year 1991 witnessed a GDP growth rate for the Agricultural sector by 5.8% which consequently increased the whole Ghanaian economy GDP by 5.3% in that year. The sector has also contributed immensely to the countrys foreign exchange earnings; 38.5% in 1999, 35.4% in 2000, 33.9% in 2001, 35.5% in 2002. (www.fao.org/es/esa). Other main exports are gold, timber, bauxite, manganese ore and diamond (BOG Quarterly Economic Bulletin, April June 2005). The performance of the agriculture sector over the years has immensely improved with growth rate of 7.5% in 2004 as compared to 6.1% in 2003. The production of cocoa for export contributed 46.7% during the year 2004, a significant portion of over all growth (ISSER 2005). The crops and livestock contribution increased from 2.3% in 2003 to 5.4% in 2004, the largest contribution to the agricultural sectors GDP. The forestry and logging sub-sectors increased by 6.1% in 2003, but dropped with a growth rate of 5.8% in 2004. (www.gipc.org.gh).The elimination of maximum lending rates and minimum time deposit rates succeeded to some extent in the liberalization of interest rates in 1987. Direct controls in the form of credit ceilings were also abolished. During the 1990s banks were at liberty to price deposits and loans and to distribute loans accordingly; however the Bank of Ghanas high reserve requirement limited the funds available for allocation (Brownbridge M. Gockel A. F 1997). These h igh reserve requirements prevented banks from developing their loan portfolios and consequently, most banks preferred to invest in attractive and somewhat risk-free government securities (strategis.ic.gc.ca) Interest rate dropped steadily owing to the Monetary Policy Committee (set up by the Bank of Ghana in 2004) decreasing prime rate from 21.5% in 2003 to 18.5% in 2004. Consequently, the commercial banks base rate has decreased from 29% to 25.4%. Interest rate for 91-Treasury bill fell from 18.71% early part of the year to 17.08% at the end of 2004. Interest rates for the 182-Day Treasury bill dropped from 19.78% during the early part of the year to 17.85% at the end of 2004. Inter-Bank interest rate also fell from 17.12% in January to 16.23% at the close of the year 2004 (www.gipc.org.gh) The Banks spread (21.3%) is still too high as compared to the other African countries (see table 3*). The banking industry has been structured in a way that banks are able to adjust their interest rates according to policy rates. Banks maintain a high spread to ensure that their profits are not significantly influenced by their interest margins (BOG financial stability report 2004). However, according to the BOG financial stability report 2006 the emergence of new banks will lead to an efficient financial sector which is expected to reduce the pressure on lending spread due to the fact that banks will continuously try to gain market share by competing for customers. Table 3: Selected Commercial Bank Interest Rates, 2000 and 2004 Deposit Rate Lending Rate Spread 2000 2004 2000 2004 2000 2004 Gabon 5.0 5.0 22.0 18.0 17.0 13.0 Ghana 16.8 7.5 47.0 28.8 30.2 21.3* Kenya 8.1 2.4 22.3 12.5 14.2 10.1 Mauritius 9.6 8.2 20.8 21.0 11.2 12.8 Mozambique 9.7 9.9 19.0 19.2 9.3 9.3 Nigeria 11.7 13.7 21.3 19.2 9.6 5.5 Tanzania 7.4 4.2 21.6 13.9 14.2 9.7 Uganda 9.8 7.7 22.9 20.6 13.1 12.9 Zambia 20.2 11.5 38.8 30.7 18.6 19.2 Source : International Financial Statistics, IMF Fiscal and Monetary Policy The financial policies implemented by monetary authorities in Ghana before the implementation of FINSAP were direct government controls on all sectors of the economy. Government excessive control in the economy by setting price and interest ceilings coupled with weak macroeconomic problems lead to a high level of inflation (Ziorklui, S. Q. 2001). Ghanas fiscal policy primarily aims at decreasing domestic debt, ensuring economic stability, cutting down on the increasing level of interest payments to achieve the required real interest rates. Consequently, the Bank of Ghana has adopted numerous strategies to address fiscal deficit and governments borrowing (www.gipc.org). Budget deficit was 0.55% of GDP during the second quarter of the year 2005 as compared to 1.18% of GDP during the last quarter of 2004. This showed significant decrease in the overall budget balance (Bank of Ghana Quarterly economic bulletin, April-June 2005). The Bank of Ghana in 2004 set up the Monetary Policy Committee (MPC) to mainly focus on formulating effective monetary policies, making available statistical data and providing necessary support in terms of advise for monetary policy formulation (www.bog.gov.gh). The MPC seeks to control inflation, stabilize price and exchange market, manage external debt and develop the capital market (www.gipc.org.gh). 2.1 The Ghanaian Financial System in Brief Ghanas banking sector has evolved over the years. There are 23 major banks (refer to table 7) operating in the banking sector in Ghana as at 2006. The Ghanaian banking sector is made up of 19 universal banks, 2 Development Banks, 2 Commercial banks including Apex Bank and 121 Rural Banks (www.bog.gov.gh). The introduction of universal banking in Ghana is overwhelmingly changing the way banks function in the economy. Unfortunately, not all banks operating in Ghana are eligible to be universal banks. To be eligible for banks to operate as universal banks they are expected to have at least 70 billion as shareholders capital (www.agighana.org). According to the Bank of Ghana universal banking substitutes the famous three-pillar banking model, namely development, merchant and commercial. Table 4: List of Major Banks in Ghana 2006 INITIALS BANK DATE OF ESTABLISHMENT NATURE OF BUSINESS ABL Amalgamated Bank 2000 Universal Bank ADB Agricultural Development Bank 1965 Development Bank BBG Barclays Bank Ghana 1918 Universal Bank CAL CAL Merchant Bank 1991 Universal Bank EBG Ecobank Ghana Limited 1990 Universal Bank FAMBL First Atlantic Bank 1995 Universal Bank FBL Fidelity Bank Limited 2006 Universal Bank GCB Ghana Commercial Bank 1952 Universal Bank GTB Guaranty Trust Bank 2006 Universal Bank HFC HFC Bank Limited 2002 Universal Bank ICB International Commercial Bank 1996 Universal Bank INTER Intercontinental Bank Plc 2006 Universal Bank MAB Metropolitan Allied Bank 1995 Commercial Bank MBG Merchant Bank Ghana Limited 1972 Universal Bank NIB National Investment Bank 1963 Development Bank PBL Prudential Bank Limited 1997 Commercial Bank SBL Stabic Bank Ghana Limited 2000 Universal Bank SCB Standard Chartered Bank 1896 Universal Bank SG-SSB SG-SSB Bank Limited 1976 Universal Bank TTB The Trust Bank 1994 Universal Bank UBA United Bank for Africa 2005 Universal Bank UNI Unibank Ghana Limited 1999 Universal Bank Zenith Zenith Bank 2005 Universal Bank Source:http://www.bog.gov.gh/privatecontent/File/BankingSupervision/Licensed%20Banks%20%20Addresses%20November%202008(1).pdf Until 1957 the West African Currency Board (WACB) acted as the only board under the Colonial regime conferred with the authority to exchange sterling to Gold Coast pound. Government of the then Gold Coast declared its intention to issue its own currency after independence. Politicians and economists were of the strong opinion that with the establishment of a Central Bank, Ghanas independence will have a significant meaning in political history. In view of this, preparations started which ended up in the establishment of the Bank of Ghana on the 4th of March 1957 under the Bank of Ghana Ordinance (No.34) of 1957 passed by the British Parliament. The whole idea for the establishment of a Central Bank was to meet the financial needs of vast indigenous sectors of the economy as well as the new independent Ghana government. After the establishment of Bank of Ghana (replaced WACB) as the central bank, the 1957 ordinance empowered the bank to primarily assume the following role in Ghana when it first begun formal operations on 1st August 1957 (www.bog.gov.gh): Printing out and redeeming bank notes and coins. Lender of last resort for banks in Ghana. Using fiscal and monetary policies to regulate money supply and maintaining monetary stability. Advise the government and be the main source to finance to the government of Ghana. Supervise and regulate all banks in Ghana. The legal and regulatory frameworks in which financial intermediaries operate in Ghana are as follows (www.bog.gov.gh): Bank of Ghana Act 2002, Act 612 Banking Act, 2004 (Act 673) Financial Institutions (Non-Bank) Law 1993, PNDC Law 328 Companies Code Act 179, 1963 Bank of Ghana Notices /Directives / Circulars / Regulations Non-Banking Financial Sector Ghana has achieved significant success in the economy particularly in the non-banking sector as a result of initiating the structural adjustment program, liberalizing the economy and by passing the Banking law in 1989 and the Non-bank financial law in 1993. These initiatives embarked by the government of Ghana have paved way for new entrants in the private sector and also transformed the existing financial institutions to diversify into the financial system. Consequently, there has been a rapid growth of Non-Bank Financial Institutes (NBFIs) with the prime aim of providing financial services to potential target groups outside the banking system (Ziorklui, S. Q. 2001). According to the Ghana Investment Promotion Centre the financial system in Ghana includes the following licensed non-Bank Financial Institutions: Insurance companies Stock exchange Building Society Mortgage Finance Co. Venture Capital Funding Financing Trust Company Credit unions Discount houses Financial houses Leasing companies Savings and loans associations 2.2 Objectives of Financial Sector Adjustment Program (FINSAP) According to Ziorklui S. Q. (2001), FINSAP was introduced and implemented in two phases. He further outlines the main objectives in both phases of the implementation. The first phase was implemented in 1988 with its main objectives as follows; FINSAP I Embark on restructuring to address financially distressed banks. Mobilize savings and strive to improve efficiency in the allocation of credit. Establish an effective regulatory and supervision system to monitor and improve the banking sector. Improve and strengthen the money and capital markets. To establish a non- performing assets recovery trust. The second phase of FINSAP was implemented in 1990 with the following objectives; FINSAP II Promote foreign investment and increase private participation in the banking sector in Ghana. Continue the implementation of policies adopted under the first phase of the financial sector adjustment program (FINSAP 1) to restructure the financial sector. Better manage the collection of non-performing loans by Non-Performing Assets Recovery Trust (NPART). Promote and develop non-Bank financial Institutions (NBFIs) to be more effective and efficient in savings mobilization. 2.3 SWOT Analysis Financial Sector Adjustment Program (FINSAP) This section seeks to determine whether the main objectives under the implementation of the financial sector reforms (FINSAP) are attainab

Cold War :: essays papers

Cold War Discuss the Cold War events of the 1950’s. The 1950’s full of events and conflicts, the main one being the Cold War between the USA and the USSR. Events that lead up to the extreme tension during the cold war, were relations with the Vietnamese. The Vietnam War took place over a battle for communistic prevention. The fear of communism spreading tied in with the relations dealing with the USSR’s communistic society. In Europe there were revolts against communism as well. East Germany was revolting in 1953, along with Poland and Hungary in 1956, who got crushed by the Soviet army. The American government did not interfere with these conflicts for fear of starting a war. The Cold War also took place in the Middle East. Both Jews and Arabs proclaimed it as their homeland. While supporting Israel, the American Government worked to prevent other stronger, oil-rich countries from falling into communist rule. In addition to this was when the American and British forces, cut off aid to Egypt, due to the fact that the ruler that was seeking Soviet support. In 1956 British and French forces attacked Egypt to gain control of the Suez-Canal. Reacting to this situation the USSR, threatened the US and Britain, so Eisenhower persuaded his allies to withdraw. The Cold War also took place in Latin America. USA spread their influence into South America, setting up American organizations in South American, the US could stick a foot in the door of communism. When the Americans overthrew the Guatemalan government, the Soviet Union got furious. They felt that the American Government was escalating the Cold War. In 1958 Fidel Castro overthrew the present Cuban dictator, resulting in the United States becoming angry again.

I Never Promised You A Rose Garden :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  I Never Promised You a Rose Garden by Hannah Greene I Never Promised You a Rose Garden takes place in the late 1940s. The main setting is in a mental hospital just outside Chicago. But it also goes back and forth between the hospital and the main character’s home in Chicago. This book is about a girl named Deborah who is diagnosed with schizophrenia. She is sent to a mental hospital after trying to commit suicide. Deborah lives in her own world of Yri and has lost touch with reality. In fact, she wants no part of the real world. During her life she feels that she has been deceived in so many ways and has become cynical. She has no friends except for the secret Gods and Goddesses she makes up in her head. In the beginning of the book Dr. Fried is introduced. She is a doctor that is going over Deborah’s papers and speaking about how she may succeed in making Deborah better. This foreshadows how important she will be in Deborah’s life. Also how influential she will be to Deborah strengthening her health situation.   Ã‚  Ã‚  Ã‚  Ã‚   After cutting her arms, Deborah is moved to the Disturbed Ward or â€Å"D† ward. There she finds many interesting people. She continues to open up to Dr. Fried and tells her more and more about Yri. This in turn makes the Gods of Yri upset and makes Deborah go into these spells where she become unresponsive. The Gods also criticize her and put her down which makes her do things such as burn holes in the arms with cigarette butts. Dr. Fried finally gets to Deborah by telling her that she shouldn’t quit trying to get healthy and really gets to her. After that Deborah begins to realize how important living is and she begins to let in the real world. She finally is moved back to a B ward and is allowed off the grounds. She stops letting the Gods rule her and goes back to school to get her life back together. Deborah’s conflict in this book is an internal conflict. Its whether to let the world in and live in reality or to continue living in the self hating, but comfortable life she’s made up inside her head. Deborah would like to be live in the real world, but she somehow doesn’t feel she fits in and that her world Yri is above the real world. She however does eventually choose the real world with the help of her hospital friends and Dr.

Categorical imperative Essay

The Golden Rule- Do unto other as you would have them do unto you. Yes, corny as hell, but it works. If you make a decision and think of yourself as suffering the potential outcome; it will often help to make a wiser and more considerate and ethical decision. EXAMPLE: if you are using a pirated software then think being in shoes of a person who has developed that software. All of his hard work is going in vein and he is getting nothing from you. 2. Immanuel Kant’s Categorical Imperative- Yes, take a note from a philosopher. If a action is not right for everyone, then it is not right for anyone. A bit idealistic and unrealistic for most scenarios; but hey, it might keep you from EXAMPLE: While using pirated software if you think that it doesn’t make any difference to developer’s income but, you think that if everyone started using pirated software then developer will get nothing from his software and then no one will develop any software because there is no income from that, which ultimately hurts the world as a whole†¦ 3. Descartes’ Rule of Change- Principle that states that is an action cannot be taken repeatedly, then it is not right to be taken at any time. Yes, another philosopher, how grand life is. Of course this should not surprise us considering that morality is one of the major areas of study of philosophy. EXAMPLE: if you are downloading songs from unauthorized sites for free and you think that let me do it once next time I will download it from authorized sites. Thus you think that doing this repeatedly is unethical then doing it once is also unethical. 4. Utilitarian Principle- This is where one takes the action that achieves the higher or greater value. This of course assumes that values can be put in rank order and understand the consequences of various courses of action. Pretty far away from the Golden Rule, Hugh? EXAMPLE: in critical situation rather categorizing action in ethical or unethical you should categories or rank them into more unethical to less unethical. For example keeping track of every email of every citizen might harm privacy of people so it is unethical but it is useful to avoid any terrorist activity so tracking email of every citizen of country is less unethical 5. Risk Aversion Principle- The principle that one take the action that creates the least harm or incurs the least cost. This assumes that all actions have some harm, and our job is to take the action with the least amount of harm. EXAMPLE: hacking is considered as unethical practice but in war-situation through hacking if you can get access to warehouse of firearm manufacturing company then it is useful to save your country by using that firearms thus in this case we are selecting an action which harm a firearm manufacturing company but saving whole country. 6. No Free Lunch Rule- This states that there is no such thing as a free lunch. If something someone else has created is useful to you, it has value and you should assume the creator wants compensation for this work. EXAMPLE: In India lots of people are using pirated windows 8 operating system thus they are not paying any compensation to Microsoft so this action is unethical.

The thrust of the Computer Security Plan

The thrust of the Computer Security Plan part of the Business Plan is to ensure that the information systems to be deployed by the company will be in line with of the strategic mission and vision of the company. In order to insure that the information technology infrastructure and resources will meet the requisite requirements of every strategic, tactical and operational plan, the company decided to start on the right footing by adapting the standards contained in the ISO/IEC 17799:2005 or specifically known as the Information Technology – Security Techniques – Code of Practice for Information Security Management. By purchasing the ISO 17799 Toolkit, the company can follow the roadmap for a more secure information systems environment, implement the policies contained in the toolkit, and eventually obtain ISO 17799 certification to add more value to the consulting business. Specifically, the company will initially address the following areas that require immediate attention: 1.User authentication methods and policies – This will be based on Section 11.1.1 of ISO 17799 wherein, â€Å"An access control policy should be established, documented, and reviewed based on business and security requirements for access. Access control rules and rights for each user or group of users should be clearly stated in an access control policy. Access controls are both logical and physical and these should be considered together. Users and service providers should be given a clear statement of the business requirements to be met by access controls.† 2.Desktop policies – This will be based on Sections 11.3.2 Unattended user equipment and 11.3.3 Clear desk and clear screen policy wherein, â€Å"Users should ensure that unattended equipment has appropriate protection. All users should be made aware of the security requirements and procedures for protecting unattended equipment, as well as their responsibilities for implementing such protection. Users should be advised to terminate active sessions when finished, unless they can be secured by an appropriate locking mechanism, e.g. a password protected screen saver; log-off mainframe computers, servers, and office PCs when the session is finished; secure PCs or terminals from unauthorized use by a key lock or an equivalent control. A clear desk policy for papers and removable storage media and a clear screen policy for information processing facilities should be adopted.† 3.Remote user authentication methods and policies – This will be based on Section 11.4.2 User authentication for external users of ISO 17799 wherein, â€Å"Appropriate authentication methods should be used to control access by remote users. Authentication of remote users can be achieved using, for example, a cryptographic based technique, hardware tokens, or a challenge/response protocol. Possible implementations of such techniques can be found in various virtual private network (VPN) solutions. Dedicated private lines can also be used to provide assurance of the source of connections. Dial-back procedures and controls, e.g. using dial-back modems, can provide protection against unauthorized and unwanted connections to an organization's information processing facilities. This type of control authenticates users trying to establish a connection to an organization's network from remote locations.† 4.Password policy – This will be based on Section 11.3.1 Password use of ISO 17799 wherein, â€Å"Users should be required to follow good security practices in the selection and use of passwords. All users should be advised to keep passwords confidential; avoid keeping a paper or software record of passwords, unless this can be stored securely and the method of storing has been approved; change passwords whenever there is any indication of possible system or password compromise; select quality passwords with sufficient minimum length which are easy to remember; not based on anything somebody else could easily guess or obtain using person related information; not vulnerable to dictionary attacks; free of consecutive identical, all-numeric or all-alphabetic characters; change passwords at regular intervals or based on the number of accesses, and avoid re-using or cycling old passwords; change temporary passwords at the first log-on; not include passwords in any automated log-on process, not use the same password for business and non-business purposes.† 5.Communication process for email, secure file exchange via email – This will be based on Section 10.1.1 Documented operating procedures of ISO 17799 wherein, â€Å"Operating procedures should be documented, maintained, and made available to all users who need them. Documented procedures should be prepared for system activities associated with information processing and communication facilities, such as computer start-up and close-down procedures, backup, equipment maintenance, media handling, computer room and mail handling management, and safety. Operating procedures, and the documented procedures for system activities, should be treated as formal documents and changes authorized by management. Where technically feasible, information systems should be managed consistently, using the same procedures, tools, and utilities.† To further manage the information technology infrastructure and resources, the plan calls for the adoption of the â€Å"best-of-breed† approach by way of making certain that the building blocks of information security (Shaurette 2002) are fully exploited. These building blocks include the optimum use of security policies, authentication, access control, anti-virus/content filtering systems, virtual private networking (VPN)/encryption methodologies, vulnerability services consulting, intrusion protection system, and public key infrastructure (PKI)/certification authorities (CA)/digital signatures systems. This is considered to be the first step towards finding a technique for modeling and evaluating the security of a system (Stjerneby 2002).