...What factors each entrepreneur needs to take into account to ensure business success? As an entrepreneur, there are many factors that need to be taken into consideration in order to ensure business success. First, an entrepreneur has to take into account the location. A location is a vital element in starting a business. It might be a country, region, or a locality. However, the location has to be strategic enough to accommodate the business and be economically viable. The second factor in my perspective is the population. Every business needs a viable population to thrive. For instance, if an entrepreneur conducts a business in a country densely populated, all the entrepreneur need is a niche of that population to succeed in that business. Another factor each entrepreneur should consider in order to ensure success is the issue of a construction permit. Construction is a necessity for a company. It helps the government to ensure that a company is constructing a structure that will not pose any risk for internal and...
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...Literature Review Original Ideals and Postulates The key principle of audit is that it should be a professional and objective process. An approach that has been assumed by Flint, (1971), and a theme that is strongly supported by the majority of the literature written on this subject. This idea is supported by Mautz and Sharaf (1961), who created an outline of standards that auditors should work, to in order to achieve the highest level of professionalism. To be able to achieve this level of professionalism it can be seen that a conceptual framework must be in place, it was for this reason Mautz and Sharaf created eight postulates as a foundation for a framework. They created their postulates based on a ‘...careful study of the nature and activities of auditing...’,(Mautz and Sharaf, 1961, pg 41, ).It was this study which allowed them to create the postulates that are the underlying assumptions of modern audit theory and practice. Flint in 1988 developed this idea but rather than eight postulates he suggests seven very different basic postulates. The postulates Flint created are based upon the idea that audit has a much broader effect on society, this basis can be seen within the postulates. When we look at the first postulate Flint states, ‘... Auditing can be said to act as an element of social control within the process of corporate or public accountability...’ (Flint, 1971) This suggests that Flint felt that audit was not only affected by society but also that audit is actually...
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...This case deals with the changing of the guards for Bob Scanlan. After 8 years of service, Bob was promoted to small business accounts at the corporate office in Dallas. Bob’s previous work experience were typically in high pressure areas lacking the challenges he desired. However very interested in the travel industry and after several request, Bob accepted the supervisors position vacated by his supervisor whom retired. Bob reported directly to Beverly Sadowsky, then 1st V.P. now C.O.O. of Adventure Plus. Beverly and Bob’s working relationship worked perfectly. Beverly’d hands off management style and delegation of responsibilities, gave Bob the challanges he was looking for at corporate. Bob pride himself on making his Beverly and his department look good. Not to mention how effective his own management style was with his employees. However after Beverly’s promotion to C.O.O., her replacement George Fishman and Bob routinely bumped heads on task once handled by Bob along. George was from auditing with a successful professional track record at work and in the community. George was the complete opposite of Beverly which drove Bob to his boiling point. Diagnosis Failure to appropriately transition from Beverly’s hands off management style to George’s deeply involved hands on style provide to be a negative and stressful experience for Bob. Not having the autonomy to supervise his department as he saw fit was not the challenge Bob wanted. “Post-It” notes citing Bob’s failure...
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...Departments In A Bank As soon as it becomes necessary, on account of volume of business, to divide the work in a bank into divisions, each employing a group of clerks, such division is organized into a department having a department head who is usually a teller, a head bookkeeper, or perhaps a junior officer. In the very large banks the executive staff is itself organized into groups, and there may be a vice - president and one or two assistant cashiers in charge of each important department. The work of a department in a large bank is nothing more nor less than the work of a single man in a small bank, apportioned among several men. For example, the receiving teller in a five-man bank will take the deposit, count the cash, examine the checks, assort them as to place payable, enter them upon the proper records and make a settlement or proof at the end of the day. In a large bank each of these operations is performed by a different man or group of clerks under the direction of the receiving teller, who is head of the department. It may be that he himself will do very little if any of the detail work. He becomes the manager. Frequently we find a department within a department, as for example, the money department within the paying teller's department. The ordinary departments, classified as to group, may be described as follows: Paying Teller's Department (Teller): Pays or certifies checks. In charge of the signature book or cards bearing the authorized signatures of all depositors...
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...manual system Account Information System of their students. The information are stored and compiled in some sort of filing cabinets and may take a long time to retrieve the data and information especially when the account is for old students of the school. In all it can take minutes finding the relevant account information of the students. Students Account Information System manages student records and account information. A SAIS may handle student’s information system, payments information, accounts and balances. They can be use to run complex enrolment reports, admissions, examinations schedules and student payments with the help or via SMS Support. A SAIS helps the institutions manage various operations including student information and administrative. A SAIS allows for the quick and more accessible flow of information. A SAIS provides the accounting department specially bookkeeping staff with useful tools to automate the daily routine of simple task. In this system, a desktop application design for the use of the institution to minimize the work and burden of the accounting department. To optimize and configure accomplish specific information handling operation, such as computation, processing and storage of information. By implementing a SAIS to manage daily student’s accounts, accountant and bookkeeper can save time and have immediate access to a variety of student data. A SAIS allows a quick and easy way to communicate and notify about their children accounts and balances...
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...The Growth of Alibaba pg.8-pg.10 * Alibaba Business Model pg.11 * Five Forces Analysis pg.12-pg.13 * Present the Corporation Now pg.13 * Business Environment pg.14-pg.15 * The Financial Analysis pg.17-pg.18 * SWOT Analysis pg.19 * Recommendation for Alibaba pg.20 * Conclusion pg.20 * References pg.21 Definition * E-commerce Electronic commerce, commonly known as e-commerce or eCommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction’s life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating...
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...SG C1 True/False Indicate whether the statement is true or false. __T_ 1. IBM defines electronic business as "the transformation of key business processes through the use of Internet technologies." ___T_ 2. A transaction is an exchange of value. ___F_ 3. A transaction always has one or more activities associated with it, and an activity will always be related to a transaction. __T__ 4. Transferring funds, placing orders, sending invoices, and shipping goods to customers are all types of activities or transactions. __F__ 5. Business-to-consumer electronic commerce occurs when a person sells an item through a Web auction site to another person. __T__ 6. The U.S. government is one of the largest EDI trading partners in the world. __T__ 7. Firms such as Walmart and General Electric have been pioneers in using EDI to improve their purchasing processes and their relationships with suppliers. __T__ 8. A value added network (VAN) is an independent firm that offers connection and transaction-forwarding services to buyers and sellers engaged in EDI. __T__ 9. The increase in broadband connections in homes is a key element in the B2C component of the second wave. __T__ 10. In some cases, business processes use traditional commerce activities very effectively, and technology cannot improve upon them. __F__ 11. The skills of merchandising and personal selling can be easy to practice remotely. __F__ 12. A small-denomination item...
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...Abstract According to Beynon (2004), electronic business, commonly quoted as “E-business” is the set of all the activities of business by using information and communication technologies. Electronic business methods make corporates deal with their internal and external data processing systems more effectively and flexibly, cooperate more closely with suppliers and partners, and better meet the needs and expectations of their clients. Classified by market relationship, there are there models: business-to-consumer (B2C), business-to-business (B2B), and consumer-to-consumer (C2C). As a small company providing consultancy services in life science, the best sales strategy for Evolution Bioscience is E-business. However, this company does not make full use of its official website and several social media accounts to develop its business. This article describes Evolution Bioscience existing strengths and failing in using digital platforms such as its website and social media accounts first, and then, using SWOT and business models to analyse the company’s internal situation and via analysing the main social media to choose the suitable social media. Finally, according to the business models analysis, a recommendation mainly refers to B2B development is performed. Current situation of Evolution Bioscience EXISTING STRENGTHS As Jukes and Zilling presented in 2012, the most important for a company in E-business age is establish an official website. Evolution Bioscience...
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...Andrew Dang ACTG440 Case 3 1. a. The auditor would have identified the defalcation through review of operational procedures. By reviewing the operational procedures, he/she would have noticed that there was no segregation of duties when it came to receiving and recording the income earned. b. The auditor would have most likely detected the defalcation when confirming accounts receivable with a large statistical sample. He/she probably would have performed a cash trace and noticed the receipts not matching up with accounts receivable postings. c. A control procedure that would have been effective in preventing this defalcation is having segregation of duties. By having another employee record the income earned from the city’s pension fund, the treasurer would not have been able to divert any of the funds for himself. 2. a) The auditor would have identified the risk that led to billing schemes through analysis of financial results. b) The defalcation most likely would have been detected by the auditor when going through the financial statements and identifying the fluctuation in sales. He/she would probably verify that the vendor was real and noticed the defalcation. c) A control procedure that would have been effective in preventing or detecting this defalcation is to implement authorization controls on approval of purchase orders. Authorization of purchase orders would include detective controls such as investigating orders to see...
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...Club IT part 2 Mark Reis Xbis/219 August 18, 2013 Katherine Escobar Club IT part 2 Ruben Keys and Lisa Tejada along with many other business owners understand that information system technologies will let their originations to compete and flourish in the market place. Lisa, Rubin, and a systems consultant have analyzed the current information system status and during this analysis they have identified three areas that need improvement. This prompted Lisa and Ruben made the decision to upgrade their information management systems. The first problem their information system identified was neither Lisa nor Ruben were not up-to-speed with e-commerce. The second problem is that their computers are old and out-dated along with that their Internet connection was the old hard-wired system that plugged directly into the computer. The third problem, they need a better way to keep track of customer orders along with keeping track of inventory. A “Water Fall” method was Lisa and Rubens choice of method to use in their systems analysis (Wiley Higher Education, 2006). Current Information System Lisa and Rubin use their information system to help run their business and in their decision-making process’ (Wiley Higher Education, 2006). Their intranet and using the Internet helps them search for and retrieve needed information quickly. The web site has a login for employees, and they can access their personal information like, how many hours they...
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...Explain How The Supply Chain Differs On A B2C Site Compared To A B2B Site The coined term B2C or business to consumer describes a form of business where a company sells products to consumers. An example of a B2C in tangible terms would be walking into Wal-Mart and buying something. An example of a B2C eCommerce would be going to Wal-Mart’s website and making a purchase. B2C eCommerce can be any business selling a product, service or information to consumers online. B2C in eCommerce is basically electronic retailing or shopping electronically. B2C’s can be anything from vacations, cruises, airline tickets, games, books, clothes etc. The coined term B2B or business to business describes a form of business when one company buys from or sells to another. An example of a B2B in tangible terms would be a copy machine salesman going door to door to business’s trying to sell copy machines to offices. An example of a B2B eCommerce site would be a copy machine website serving the copy machine needs of offices all over the world. B2B eCommerce is more than just buying or selling however, many B2B sites now outsource their supply chain as well. B2B’s include processes that either enable or improve relationships between individual firms or multiple companies. B2B’s can include design, engineering, supply, delivery, accounts payable, accounts receivable, product search, electronic payments and managing logistics. There are many differences in B2B and B2C sites, in which I will try...
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...opened up new opportunities and challenges for marketing to these customers electronically. Because business customers and individual customers react differently to marketing, strategies and tactics used to reach one segment may differ from those used to reach the other. This paper will first look at how the business customer and retail customer are different, then delve into the differences between B2B and B2C marketing. Relationship Differences One important aspect of marketing is to build good relationships with customers. “In B2B or business to business this requires a commitment of time and good customer service prior to ever making that first sale.” (Warholic, 2007, p.1). One of the differentiating factors between B2B and B2C sales is the B2B sales process takes longer because business customers require more communication and product details. Business customers are not apt to purchase during the first contact with a vendor. Usually the sale, especially the first one, takes multiple contacts creating a bonding relationship. Business buyers are accustomed to providing “data about their companies and job functions” when “registering for trade shows or subscribing to business and trade publications.” (Furlong, 2007, p. 3). This exchange of data is common practice between businesses allowing for the building of trusting relationships. Business customers tend to set up accounts with the vendor from whom they purchase...
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...E-commerce entails the use of the Internet in the marketing, identification, payment and delivery of goods and services. This paper highlights the status, statutes, potential and constraints to e-commerce development in Bangladesh. Both the statutory laws as well as the challenges in implementing them are discussed. Major legal, regulatory and institutional constraints to e-commerce are identified. The paper also lists specific policy changes aimed at bringing improvements to the legal and regulatory environment affecting e-commerce. Dimensions of E-Commerce The three dimensions of e-commerce are Business-to-Consumers (B2C), Business-to Business (B2B) and Business-to-Government (B2G). B2C e-commerce is unlikely to be of much use in the near future in Bangladesh because of low per capita income, a weak infrastructural and legal environment, lack of trust between business and consumers. B2C for cross border trade is also limited by the factors suggested for the domestic front. In addition, non-availability of international credit cards, foreign currency remittance restrictions, delays and informal payments at customs clearance even for small value and quantity items will discourage B2C. The B2B application already exists in the export sector of Bangladesh, especially in the Ready Made Garments (RMG) industry. RMG has the lion’s share of the export earnings in Bangladesh. The RMG sector has begun to use the Internet, and its dependence on ecommerce is likely to grow...
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...B2B Marketing Verses B2C Marketing Opportunities Business-to-business (B2B) and business-to-consumer (B2C) marketing is different. Some people think marketing is marketing and whether it is marketing to consumers or marketing to businesses, it is still just marketing to people. E-commerce is rapidly becoming the new frontier of the 21st century. As a business strategy with tremendous potential, is worth taking a close look at what works and why and why it can work. In the today business environment, there is a clear advantage to being on the Web ahead of the competitors and in presenting a high quality image and positive, productive communications through Internet contacts. Advertising by promotional pages is an extremely effective way to highlight a single product and is rapidly becoming the product presentation form preferred. Especially when combined with e-mail or newsletter programs, it offers terrific versatility in adapting your advertising to specific interest groups and retail customers. Promotional pages have been regularly used in print media to introduce a product, but the electronic version can be used and reused for as long as needed without additional printing expense. It is clean, focused, concise, and detailed, is the next best thing to putting a product sample in the consumers hands. Marketing by means of the Internet offers both opportunity and hazards for businesses that choose to operate online. On the opportunity side, the B2B electronic market is an remarkably...
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...Financial Accounting Business Folio Task 1 (Team Assignment) DUE DATE: Your tutorial in week 4 If you do not hand in your business folio to your tutor at your tutorial in the specified week, then 2 marks per day will be deducted from the available marks for this Task. This 2-mark- deduction applies to all submissions after your tutorial time, even if still on the same day of your tutorial. Business folios will be only handed back at tutorials. It is your responsibility to attend the tutorials to submit and collect your business folio. You need to keep your marked Task 1 after you collect it from your tutor as you will need to submit it with your Task 2. Business Folio is a team assignment, submission of individual work is not accepted. It is your responsibility to find your team member, form into a group and conduct team work to develop your team working skills. Prior to commencing your assignment 1. You are required to form a team with one or two other students from your class (teams must consist of two or three students). Complete the team details (Pro Forma: Task 1A). All of your submitted tasks should be typed. Handwritten work is not eligible for submission. 2. Your team is to commence a new business; the form of ownership is to be a company. You will each contribute $200,000 cash and receive shares in the company to that value. There are conditions involved: • The business must be either a retail or wholesale business that appeals to you and...
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