Management Communication for Johnson and Johnson -MyAssignmenthelp

Question: Talk about the ManagementCommunication for Johnson and Johnson. Answer: Review of financial manageability through Johnson and Johnson Johnson and Johnson is an American global organization that is at risk to convey customer bundled merchandise, clinical gadgets and pharmaceutical items (Johnson., 2017). Johnson and Johnson likewise have 250 auxiliaries and together they work in 60 areas and convey their items in more than 175 nations (Johnson., 2017). Every one of these auxiliaries are free have strategies and techniques that gives them a worldwide upper hand and budgetary development in universes economy. The complete income that is achieved by this organization was $70,074 million and $71,890 million in the year 2015 and 2016 individually (Statista, 2017). Be that as it may, the net gain of these two years was $15,409 million and $16,540 million (Statista, 2017). The concerned organization likewise takes successful strategies and methods for accomplishing progressively money related development and that not exclusively can build up their business adequacy yet additionally encourages them to set up their associati on as worldwide viewpoint. Picture 1: Annual income of Johnson and Johnson 2005-2016 (Source: Statista, 2017) Monetary Sustainability approaches and practices of Johnson The yearly report of the concerned association represents that so as to accomplish financial benefit and reasonableness, Johnson and Johnson explores different avenues regarding new thoughts. It is likewise referenced that they additionally buy new types of gear, gives new offices and dispatch new items (Johnson., 2017). In the yearly report it is referenced that they are intending to send produce 10 new items by 2019 that can possibly drive $1 billion deals in each line (Johnson, 2017). This arranging joins their arranging of extra 40 line expansions by that year (Johnson, 2017). The organization likewise want to gain more than $500 million in possible deals through at any rate 10 of the product offering (Johnson, 2017). It is likewise found from the companys site that they have created Strategic Capital Allocation Framework to assess their income framework. They have likewise focused for Value Creating Acquisitions for viable financial supportability (Johnson., 2017). In the year 2016, they have put $5 billion in acquisitions and authorizing bargains. It is additionally expressed in the yearly report that, they have intended to procure Actelion Ltd. for $30 billion (Johnson, 2017). The expected explanation because of which they select this securing is that they can grow and supplement their Janssen portfolio for achieving demonstrable skill in pneumonic blood vessel hypertension and strengthens (Johnson, 2017). Monetary manageability can likewise be achieved by subsidizing inward development activities like improvement of innovative work division for making standard advancement (Johnson., 2017). Besides, sorting out Share Repurchase Programs for return an incentive to investors additionally upgrades their monetary obligation that then again encourages them to achieve increasingly money related development (Johnson., 2017). For his situation, they have repurchased the companys share by $7.3 billion through accessible money and access to the capital markets (Johnson, 2017). They get the supportability by improved investor esteem, upgrade in share value, tax breaks and more than before that permits the organization to acquire progressively monetary development. Johnson and Johnson additionally follow the guideline of paying decent amount of charges and reasonable returning of administrations to our partners. The yearly report additionally represents that the concerned association likewise dire cts business and documents government forms and perform charge reviews with the coordinated effort of many expense specialists. In addition, the concerned association additionally follow Base Erosion and Profit Shifting (BEPS) venture for revealing their exercises to burden specialists over the world. This methodology prompts more noteworthy review examination of benefits from different coiu7ntries where they wanted to serve their administrations. In conclusion, all the monetary, financial and political dangers thought are followed that are-remote cash trade, swelling and money degrading dangers, illicit importation of pharmaceutical items, hostile to pay off and different guidelines and exchange security measures and import/send out authorizing necessities (Johnson, 2017). In setting of Foreign Currency Exchange, Johnson and Johnson utilize money related instruments to defeat the affliction of the unexpected variances in cash an incentive in different countries (Johnson, 2017). In addition, the concerned association handles the expansion and cash downgrading dangers through projects like cost decrease programs. This is clear from their activities in exceptionally inflationary countries like Venezuela. In addition, the monetary maintainability of the approach can likewise be achieved by not following illicit bringing in of Pharmaceutical Products and follow the enactment of United States Federal Food, Drug, and Cosmetic (Act) (21 U.S.C. area 331) (Johnson, 2017). Notwithstanding that they additionally follow administering guideline for hostile to pay off like-U.S. Outside Corrupt Practices Act (FCPA) and U.K Bribery Act 2010 so as to achieve compelling financial maintainability (Johnson, 2017). Estimating Sustainability of the Economic Policies This progression is manageable as securing permits individuals to happen collaboration by combiningbusiness exercises. Cartwright and Cooper (2014) additionally portrays that powerful acquisitions likewise upgrade the business exhibitions and reduces the expense of business exercises. This progression additionally gives the broadening to the business that prompts business extension. Along these lines, more individuals can encounters their administrations and they can get the chance to accomplish progressively monetary development. The arrangement for putting more in acquisitions can be alluded as an economical move since Actelion Pharmaceuticals Limited is a bio-innovation organization effectively gave clinical answers for the improvement of the network since 1997 (Actelion.com, 2017). This organization just exploration and gives answer for uncommon malady or at some point called as vagrant illness. This organization is additionally the primary viable association to manage endothelia n receptor foe (Actelion.com, 2017). Besides, they likewise have has 29 usable affiliatesall over the world. Subsequently, on getting this organization, Johnson and Johnson will get enhanced business activities. Taken for example, they will get the advantage of reused content items, FEMP-assigned items, ENERGY STAR qualified items alongside Biopreferred and biobased items (Department of Transportation, 2017). Along these lines, because of expanded items and administrations, Johnson and Johnson will confront lesser market hazard and this will improve their monetary maintainability in the market. Following enactments are significant for accomplishing monetary supportability as it is legitimately connected with the viable profitability execution alongside venture and market transparency. The reasonable exchange legations, hostile to pay off laws and other pharmaceutical enactments decrease the conventional obstruction to exchange and create compelling organization with the exchanging countries. In addition, following every one of these legations advance household rivalry and improving authoritative methods. Every one of these viewpoints help to be a moral organization with the goal that more colleagues mean to build up successful business relations. Another approach is to repurchase the offers once again from investors. This is the decrease of the extraordinary portions of the association in the market, which besides increment their stock cost. Seared and Wang (2017) additionally expressed that share buybacks likewise improves other money related proportions. It is additionally apparent that if the offer cost increments because of the offer buybacks, the winning per share likewise increments. Johnson and Johnson likewise want to think these buybacks as option in contrast to profits. This methodology can be said as supportable as repurchasing of offers may ascend to an expense advantage for the partners as there will be a lower capital addition rate on the stock deal contrasted with the standard annual duty rate determined on the profits. In this way, the deals of their items consequently expanded because of extraordinary offers after the repurchasing of the offers. Another strategy is to put resources into the advancement of RD divisions is a reasonable move for adjusting progressively monetary development for the organization. As per Consolidated Financial Statements, Johnson and Johnson have speculation $ 9,095 million in the year 2016 (Johnson, 2017). The concerned association additionally took activities for collective courses of action in innovative work exercises with other pharmaceutical or biotechnology organizations so as to grow all around demonstrated medication competitors or licensed innovation (Johnson, 2017). Johnson and Johnson additionally utilize roughly 126,400 workers for growing new items and advancement in their current items with the goal that more client base can be accomplished (Johnson, 2017). It is likewise referenced in the yearly report of the association that improvement of new items brought about 22% of deals in the year 2016 because of the advancement of new items (Johnson, 2017). Besides, for that year, $9.1 bil lion was put resources into innovative work so items can be built up that can meet developing human services needs and continue long haul development of the organization. These improvements of new items are at risk to defeat uncommon wellbeing affliction among the shared. In this way, this will draw in more client base, which then again improves their monetary development of the organization and guarantees the maintainability of the economy of the organization. Effect of Economic Sustainability on Global Perspective Lorek and Spangenberg (2014) delineates that the primary motivation behind obtaining I

Lascaux cave paintings Essay Example For Students

Lascaux cavern canvases Essay The Lascar cavern canvases On September 12, 1940 in Doreen, Prance, four men named Marcel Arrival, Jacques Marshal, Simon Sconces, and Georges Aging, happened upon a since a long time ago overlooked cavern Lascar. The Lascar cavern, presently a World Heritage site, has been known as the Lascar bestiary. A transformation happened in the making of craftsmanship during the upper Paleolithic Era in Europe. Starting around 40,000 B. C. , records shows that cutting edge people supplanted Neanderthals and remained the main primate occupants across Europe. At about a similar time the most punctual craftsmanship was made. These imaginative accomplishments fall into one out of two classifications. Works of art and inscriptions found in caverns along dividers and roofs are parietal workmanship. The caverns where artistic creations have been found are well on the way to not have filled in as asylum, however rather were for stately or strict purposes. The subsequent class, portability workmanship, incorporates etched items which are normally discovered covered at residence locales. The painted dividers of the collapses Lascar are bruises of the most noteworthy and notable imaginative manifestations of Paleolithic people. In spite of the fact that there is one human mage (painted people are exceptionally uncommon in Paleolithic craftsmanship), the greater part of the compositions show creatures found in the encompassing region, for example, buffalo, mammoths, ibex, bulls, ponies, deer, lions, bears, and wolves, They are the two creatures that would have been pursued and eaten just as those that were dreaded predators, (for example, lions, bears, and wolves No vegetation or painting of the earth is appeared around the creatures. These photos are joined by signs and some human portrayals, for example, a man confronting a charging buffalo, bringing up new issues about our ancient precursors.

Understand the sources of finance available to a business Assignment

Comprehend the wellsprings of money accessible to a business - Assignment Example Outside wellsprings of assets are of two classes dependent on nature of the discover like obligation fund and value money. Inward wellsprings of account are owner’s individual reserve funds, held benefits, working capital, suppliers’ credit and offer of advantages. Outside wellsprings of fund are obligation account and value money. Under obligation money, significant sources are debentures, bank advance, bank overdraft, fire-buy, award, rent, funding, receipt limiting, calculating, and point speculators. Wellsprings of money under value fund class are conventional offers and inclination share. Once more, different sources under inward and outside classes can likewise be ordered by another significant parameter for example residency or span. These are long haul, medium term and transient wellsprings of account. Long haul wellsprings of fund are value shares, inclination shares, held benefit, debentures or securities, advance from private and open organizations, investmen t, resource selling and so on. Medium term wellsprings of fund are inclination offers, debentures or securities, advance from term stores, advance from money related organizations, rent financing or recruit buy financing, outside cash securities and business borrowings. Transient wellsprings of fund are exchange credit, contrasted pay, suppliers’ credit, customers’ progresses, endorsement of stores and open stores and so on. Evaluation the ramifications of the various sources Internal wellsprings of store: These are the most ideal wellsprings of account of any business. Interior sources are utilized at fire up or in any event, for development of business. Organizations don't have commitment to pay any intrigue or discount of this sources as inner sources has a place the organizations as it were. Thusly chance is less in these classes of sources. The organizations... Comprehend the wellsprings of money accessible to a business This paper will subjectively address distinctive sub-zones of this point like evaluating different wellspring of fund; control, chapter 11 and lawful ramifications of those sources; inside and out examination of monetary ramifications and duty impacts; choice of fitting wellspring of money for different undertakings. This paper primarily comprises of subjective conversation on these four zones. Recognizing various wellsprings of money accessible to a business Finance is particularly fundamental for another just as a current business. Effective financing is additionally basic in all phases of a business. Fund is required for business improvement, business activity and business development. Money is center constraining element to any business and consequently, it is pivotal a business to deal with its monetary assets deliberately and productively. There are different wellsprings of fund accessible to a business at various advantage and cost. Along these lines, it is significant for an organization to pick most reasonable wellspring of money dependent on its prerequisite and potential to ideally use the assets to produce sufficient return. Financing for momentary tasks ought to be done from medium term financing like bank credit, giving of inclination shares, debentures and so forth. Long haul activities or business acquisitions should be possible from giving customary offers. Obligation financing ought to be ignored for long haul speculations.

Mutual Funds in Business Example For Free - Free Essay Example

A mutual fund is a collective investment scheme, which specializes in investing a pool of money collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. A funds portfolio is structured and maintained to  match the investment objectives stated in its prospectus. One of the main advantages of  funds is that they give  small investors access to  professionally managed, diversified portfolios of equities, bonds and other securities, which would be quite difficult to create with a small amount of capital. 1) Income is earned from dividends on stocks and interest on bonds. A fund pays out nearly all of the  income it receives over the year to fund owners in the form of a distribution. 2) If the fund sells securities that have increased in price, the fund has a capital gain. Most funds also pass on these gains to investors in a distribution. 3) If fund holdings increase in price but are not sold by the fund manager, the funds shares increase in price. Then can sell your mutual fund shares for a profit. 1.1.2 Mutual fund industry in Pakistan: This sector is grown in Pakistan few years ago and hold around 55.3 % share in total assets of the non banks financial sectors in FY08. Net assets under management grown more than 13 times in a shorter span of time from FY02 to FY08.Average pay out for investor in FY08 was 18 % Liberalization has helped to facilitate entry of the private sector in the mutual funds industry. Historically, the industry was dominated by public sector funds. However, creation of an enabling legal framework to allow mutual funds to be set up in the private sector and transfer of ICP-managed closed end funds to two private sector investment advisers in FY03 boosted the number and size of funds under the management of the private sector, increased competition and efficiency of the sector and enhanced the quality of fund management. It also provided opportunity to financial institutions, like banks and brokerage firms, to diversify into fund management through subsidiaries and associated companies. 1.1.3 Performance Review of Non-Bank Finance Sector The public sector open-end mutual fund, NIT, by its sheer size continues to have a significant share of 31.0 percent in the net assets of the sector. As of end-June FY07, the mutual funds sector comprised of 66 funds with 47 open-end funds and19 closed-end funds. The number of funds increased to 95 by end-FY08. Open-end funds dominate the sector, due to investors preference for ease of exit and the flexibility this investment option offers. By end-FY08, the share of open-end funds in the net assets of the mutual funds sector was 86.0 percent as compared to the share of closed-end funds at 14.0 percent. Closed-end mutual funds are more suitable for long-term investors. In the absence of the continuous sale and redemption of certificates by a closed-end fund, investors can only exit the fund at the given market price of the shares/certificates in the stock market, which is generally at a discount to the NAV per share/certificate. However, lack of redemption pressure has its advantage s for the closed-end fund, particularly with respect to the ability to invest in illiquid, but high-potential small and medium-sized companies to earn high returns, optimizing investment of assets by maintaining low liquidity and saving on marketing and distribution costs. Given the usefulness of closed-end funds, necessary mechanisms may be introduced to facilitate investors who wish to exit a closed-end fund in order to address their primary concern about ease of exit. Internationally, buy-back of shares/certificates of a closed-end fund by its fund manager, prompted by trading of shares at a certain discount to the NAV, is widely used to minimize the difference between the market price of shares/certificates on the stock market and their net asset value (NAV), so that the secondary market price is not disadvantageous to investors exiting the closed-end fund. An encouraging development in the mutual funds sector is the increasing diversity of categories of funds offered for pub lic subscription, as also evident from the variety of entrants in the sector during FY08. By the close of the year, equity funds constituted almost 41.0 percent of the mutual funds sector; income funds constituted 23.9 percent, money market funds had a share of 16.2 percent, balanced funds 6.5 percent, Islamic funds 7.9 percent, while the rest consisted of miscellaneous types of funds such as tracker funds and fund of funds. While, equity funds have the largest share in the mutual funds sector in terms of the number of funds as well as the net assets under management, however, the large assortment of options for investors is a reflection of the ability of fund managers to meet the investment needs and risk profile of a variety of investors. Several studies conducted in order to evaluate the mutual fund performances while fund size has their importance in order to evaluate the fund performances. The empirical results of prior studies that examined the relationship between risk- adjusted mutual fund returns and the costs of research (the expense ratio) and costs of trading (turnover) that are associated with active investment management are conflicting (Ippolito 1993). On the other hand, Sharpe (1966) observed that mutual funds with higher reward-to-volatility ratios tend to be those with lower expenses. The growth in fund size may cause a manager to boost returns by deviating from the funds stated investment objectives. As R.B. Clelland of R.J. Metcalf Associates pointed out (Herring 1996), that Size alone does not hamper money managers; the issue is style. It really boils down to prudent restraints and portfolio diversification. With increasing size, a fund manager is likely to engage in strategies (e.g., market timing) or invest in assets that would normally not have been chosen because of policy constraints (e.g., a policy limiting change in the value-growth orientation.) Growth in the size of net assets initially provides cost advantages becau se growth increases net returns. That is, because transaction volume is relatively larger for the larger funds, brokerage commissions on the execution of trades for large firms are lower. In addition, the costs of access to data, research services, and support, as well as administrative and overhead expenses, do not rise in direct proportion to fund size. Daniel C. Indro, 1999 mentioned that effect of fund size on its return can be evaluated by measuring the relationship of funds net asset with its return. Prior studies have indicated that smaller the size of fund, the higher is its operating efficiency. Robert (1988) concluded that the smallest quartile of US funds size achieved superior performance in comparison to other quartiles. The conclusion specifically indicated that the smallest quartile had significant positive risk adjusted returns as measured by Jensen Abnormal Performance Index at 90% level of significance. Gorman (1991) also found that small mutual funds, as measured by net assets, perform slightly better than large mutual funds. These results indicate that mutual funds quickly exhaust economies of scale and experience decreased returns (Becker and Vaughan, 2001; Chen et al., 2004). Consistent with these researches, Soderlind et al. (2000) evaluated the relationship between fund performance and fund size in the Swedish market and concluded that better performance is achieved by the equity funds that are smaller in size. 1.2 Objective of Study This study is based on fund size which is an indicator of mutual fund performance measurement for fixed income and money market. Whereas size of fund, cost of transactions and performance are the main elements of evaluating mutual fund performance. Data collected of fixed income funds as well as Money market fund from 2007 to 2009. From MUFAP as well funds annual report. Size of funds, Expense ratio and Funds age variables used in this study to evaluate the performance of fixed /money market funds. The ultimate beneficial owner for this research will be investor as well as researcher who would be able to know that how all market determinants affect on mutual fund return and their performance and which factor affect most on performance and it will further elaborate that how a fixed income is safer to invest as compare to equity fund at it will also explain that how a fixed income fund is more beneficial for individual investors as well as corporate investors in comparison o f BANKS? 1.3 Hypothesis Testing In this study behavior of return with respect to fund size of fixed income fund have evaluated Fund size has a positive relationship with the return. Return ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒâ€¦Ã‚ ¾ Size Expense ratio relationship with return of fund. Age of funds relationship with return of fund. Dependent Variables Return: Actual return mean profit over investment in a given period. In mutual fund it includes Dividend, capital gains, Interest realized in a year. Independent Variables Fund Size (asset under management): Net assets under management collected from each audited annual report and for the reliability and validity and also ensure the result from MUFAP database. In mutual fund industry net assets include bank deposits, certificate of investments, treasury bills and TFCs, TDR and all income receivables excluding short term liabilities such as NCCPL payments, SECP payments, Banks charges and so on. Fund Age: As the name shows age mean since when the fund is operating in market. Study have seen the impact of age on performance while collecting data. In this research all work done on yearly basis. Expense Ratio: A measure of  what it costs an  investment company to operate  a mutual  fund. An expense ratio is determined through an annual  calculation,  where  a funds operating expenses  are divided by the total assets under management .all expenses excluding brokerage cost or transaction cost divided by net assets under management. The largest component of operating expenses is the fee paid to a funds investment manager/advisor. Other costs include recordkeeping, custodial services, taxes, legal expenses, and accounting and auditing fees. Some funds  have a marketing cost referred to as a 12b-1 fee, which would also be included in operating expenses. All expenses and brokerage cost of different funds are available on annual reports. 1.4 Scope of Study This research consists of open ended fixed income and money market mutual funds for the period of 3 years (2007 till 2009). Majority of fixed income/money market funds launched in these 3 years. After the crisis of stock exchange investor tend to take interest in fixed income/money market funds in which capital amount remains safe. Limited studies conducted on fixed income fund in Pakistan Mutual fund industry. 1.5 Limitations of Study Fixed income and money market constitutes a major part of mutual fund industry and all these funds launched in last 3 years so study is based on 3 years performance. Only 14 income funds and 5 money market funds were operational in 2007 in Pakistan mutual fund industry in which companies were very small and can say non operational like AKD,AMZ,Noman Abid ,Dawood and so on. In this research study is focused on 15 funds which are big in size and hold some market share. CHAPTER 2 LITERATURE REVIEW In a study of (Daniel C. Indro, 1999) they mentioned that Fund size is of vital importance in order to evaluate mutual fund performance .Mutual funds must manage a minimum fund size in view of attaining satisfactory returns to substantiate their costs of obtaining and dealing with information. Moreover, there are diminishing marginal returns which becomes negative when the fund size of mutual fund exceeds. Study sample of 683 equity funds, 1993-95 periods, we evaluate that 20 % of the mutual funds were smaller fund size and 10 percent of the largest funds were over invested. Moreover value and blend fund have more to expand than growth funds from these information behavior. Growth in size of assets increases returns and offer cost advantage, this is because larger funds have more transaction volume. Previous studies related to mutual fund returns for obtaining and trading information were prove to be unsuccessful in identifying the effectiveness of investment strategy relating to f und size. Therefore in order to achieve substantial growth, right level of fund size has to be maintained in order to achieve good returns. Study reveals that blend and value funds are more likely to draw higher gains to information activities than do growth funds. An study was made by (RAUF, 2009)on open ended funds in which performance of mutual funds evaluated through different attributes such as fund size, expense ratio , turnover ratio, age,12B-1 load and liquidity and it showed a significant impact on mutual fund performance which also helped investors while making investment decisions. It is clearly mention that fund size is not helping to increase the return. As research by (Daniel C. Indro, 1999)in which they studied how fund size affects mutual fund performance? Mutual fund should also maintain an optimal size in order to get the better return which will also justify their information and research cost. In research of (Titman, 1989) they analyzed the mutual fund p erformance with their past performance on the basic of few securities attributes such as firm size, dividend yield, past return, skewness , interest rate sensitivity and CAPM beta. And found that past performance is a key attribute for investors before investing in a mutual fund. A study was conducted on the optimal size of Net assets under management by (Mack, 1997)in which they focused on economies of scale in which net assets of mutual fund should be utilized efficiently by spreading the fixed cost and as well as research cost over a large asset base. Three types of funds evaluated with their expenses and their fund size. Fund size under 20 billion to 40 billion could achieve economies of scale while small funds have space for their diversification opportunity while an optimal asset size should be a full service provider in order to get the distinctive competency in industry. A study also focused (Davis, 2001)on the relationship of performance with style of fund manager. Da ta from 1962 to 1998 was used in this research specifically for equity funds; Fama-French three factor model used in order to interpret the relation of performance with style of fund managers and concluded on the result that no investments style in the above mentioned period generated any abnormal return. A research by (Joseph Chen, 2004) on fund size affects on performance showed by the different attributes such as turnover ratio, expenses, age, flow, fund size. Study strongly showed negative relationship of funds return with fund size. Also explained that return and fund size relationship is also associated with liquidity or price impact. Large funds attract investors through advertisement and marketing activities while small funds rely more on performance to attract and maintain investors. He also mentioned the effect of fund size on performance is very loud which invested in small stocks also suggested that liquidity is a key attribute when size erodes performance of funds. The study of (Servaes, 1999)is based on sample of 1163 mutual funds opening started over the period 1979-1992, this study focuses on fund family behavior of opening new funds when there are more prospective of generating additional fee income. We find that fund openings are positively related to the level asset investment and the capital gains associated with it, there are more possibility of funds opening when size of investment is large, it also depends on past performances of the funds, low fee range and large families decision of opening funds which would develop their fame as brilliant performer by increasing there product line, large families innovate and smaller families imitate. Further more experience large families who have opened funds in the prior years are more prone to open new funds In this study of (Warner, 2001) study performance of mutual funds are measured, using imitated funds, holding actual fund characteristics. Non market factors are accounted in this study focusing on size of fund, momentum and book-to market. We find that these performance measure have very less aptitude to sense large magnitude for example 3% per year, of the abnormal performance of fund mainly when funds style individuality vary from those of value biased market portfolio, characteristics based methods to evaluate return to return size , momentum and book to market, can display self-effacing enhancement over regression procedures but these power evaluations may be misty the reason being the style-based funds show wrong measurement in both types of measures at times. Study also exhibits that funds stock trades can significantly improve power. Though there is large journalism on mutual fund performance measures but the aptitude to sense abnormal performance for an individual fund has established very less notice. Main communication of this study is that mutual fund performance measures are changeable and undependable can lead to wrong conclusions and abnorma l performance are hard to detect when they are present mainly when funds style individuality vary from those of value biased market portfolio. (Ruckman, 2003)mentioned In his study of Expense Ratios of North American Mutual Funds explains causes that decides Management expense Ratio in North American Mutual Fund market in order to explain the interest which apply on those Canadian funds. It is evaluated that Canadian MER is comparatively higher because of several reasons which include that on average Canadian funds are smaller having less competitor funds. The expense Ratio paid by Canadian shareholders is 50% more than what is paid by US investors because Canadian funds do not take benefits from economies of scale. With this there are bigger numbers of Index funds in US with lower MER which keep the average MER of US funds towards lesser rate as compared to Canadian one, with this higher clip fee charges of Canadian funds, higher Marketing expenses in Canada and labor charges are some of the other factors as well. Monopolistic competition use by Mutual fund industry allow different funds to have different characteristics to lay dissimilar expense ratio and this Monopolistic approach has advantage for bookkeeping for these two divergence. But bigger fund volume and size in United States show the way to economies of scale and the benefit of economy of scope is not prevailed by Canada due to smaller fund size and significant difference in the cost factors of the two entities. According to (Mark M. Carhart, 2002)Mutual fund Survivor offer detailed study of fund existence concerns with the help of (Carhart, 1997)data. Funds live many years depending upon their average multiyear performance, which suggest performance determination leads to mutual fund existence and disappearing of funds from market is the result of their poor multiyear performance. For US 1 year mutual funds the annual partiality increases from .07% as compare to the 1% for funds more t han 15 years which shows existence condition or survivor time deteriorates facts of persistent performance this survivorship condition also effects funds characteristics itself and also its performance , not only performance but persistence performance and may lead to fund erosion as many profitable datasets contains only fund which are currently in operations and for funds to be included in study or analysis requires to survive for minimum timeframe. (Jorion, 1999)Study of how equity market departure is accustomed upon a downward float in performance over time, also propose that survivor biases are expected to be a difficult for practical studies using international data. And study of (Mark M. Carhart, 2002) elaborate the importance of both the nature of the survival and the sample period span at the time of trying to illustrate survivorship biases. Taking survivor partiality sample (Carhart, 1997)expresses Persistence in Mutual Fund Performance and reveals that basic causes in returns and expenses of investments in stock entirely elucidate persistence in equity mutual funds and threat attuned returns. Hendricks, Patel and Zeckhausers (1993) Jegadeesh and Titman (1993), Study is typically obsessed by the one year momentum outcome but funds individually dont make higher returns by momentum approach in stocks. The only important determination not elucidate is strong underperformance by the awful returns in mutual funds. The outcome of which is not even supported by expert portfolio managers. Mutual funds persistent performance is not the sign of good stock picking capabilities but to certain extent its explained by common factors such as returns on stock, its expenses, and cost of transaction explains the certainty of returns. Study also reveals that performance of mutual fund is negatively related to factors such as portfolio turnover and load fess and Expense ratios come out to diminish performance a slight more than one-for-one. The top ten mutual funds earn back their investment overheads, the bottom ten funds conversely underperforms by about double their accounted investment overheads. Christopherson, Ferson, and Glassman (1995) reach parallel outcome about pension fund act. This article proposes three significant set of laws for maximizing returns. One of which is evading from investing in funds having poor performance another important point is funds with high income previous year have more higher expected returns the following year, but not in years from then on and third is the negative relation of performance with factors like expense ratio, transaction cost and load fees. CHAPTER 3 RESEARCH METHODS 3.1 Method of Data collection: Secondary data was collected to test the hypothesis. Data collected from different resources are mentioned below: Mutual fund association of Pakistan. Karachi stock exchange of Pakistan. Asset Management Companies. State Bank of Pakistan Library. Interviewed with CEO of Safeway fund as well as MUFAP director. Interviewed with Finance Manager of JS Investments. Meeting with fund manager of UBL funds. 3.2 Sample Size Fifteen Mutual funds are included in this research in which 10 are Income funds and 5 are Money market funds. Data is collected from 2007 till 2009 as mostly fixed income /money market funds launched in this period. Only four income funds were operating in 2005 in Pakistan. Variables are mentioned below which used in this research. Fund Size 🙠 Assets under management): Net assets under management collected from each annual report also confirmed from MUFAP research department. Using a small sample of funds from 1974 to 1984, (Titman, 1989) find mixed evidence that fund returns decline with fund size. Fund size may be correlated with such other fund characteristics as fund age or expense ratio. Fund size (as measured by the log of total net assets under management Growth in the size of net assets initially provides cost advantages because growth increases net returns. That is, because transaction volume is relatively larger for the larger funds, brokerage commissions on the execution of trades for large firms are lower. In addition, the costs of access to data, research services, and support, as well as administrative and overhead expenses, do not rise in direct proportion to fund size. (Daniel C. Indro, 1999) Proposed hypothesis is mentioned below in which assumed a positive relationship betwe en fund size and return. Fund size has a positive relationship with the return. Return ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒâ€¦Ã‚ ¾ Size Fund Age: As the name shows age mean since when the fund is operating in market. Age will be calculated by the number of years the fund is operational (rauf, 2009) As age increases it is deemed that efficiency increases therefore, returns are also supposed to increase resulting in a positive relationship. Age of funds has a positive relationship with return of fund. Size ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒâ€¦Ã‚ ¾ Return Expense Ratio:The expense ratio is the portion of the funds assets paid for operating expenses and management fees, including 12b-1 fees, administrative fees, and other asset-based costs incurred by the fund but excluding brokerage costs (Daniel C. Indro, 1999) .Expense ratios are the costs they pay investment managers to become informed. Each funds return, expense ratio, turnover, and net assets for each year in the 1993-95 periods are av ailable from Morningstar. Expense ratio has been measured by mutual funds quarterly operating expenses (including management fees, distribution fees, and other expenses) as a percentage of the funds average net assets. If by spending more resources on active management, managers increase the return then expenses regression coefficient should be positive (Talat Afza) Blume, and Crockett (1970) reported an insignificant negative correlation between risk-adjusted mutual fund returns and expense ratios and Elton, Gruber, Das, and Hlavka (1993) found that risk-adjusted returns exhibit a negative correlation with expense ratio. Expense ratio relationship with return of fund. Expense ratio ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒâ€¦Ã‚ ¾ 1/Return Return: Actual return mean profit over investment in a given period. In mutual fund it includes Dividend, capital gains, Interest realized in a year. Return can be calculated through different ways which is applicable in industry. Talat and Afza us ed the regression model of Philpot et al. (1998), which was particularly used for evaluating management effectiveness of US bond mutual funds. Model 1 (Philpot Model) Returnit = ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 (ÃÆ'Ã… ½Ãƒ ¢Ã¢â€š ¬Ã‹Å"ssetsit) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 (Expenseit) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 (Turnoverit) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²7 (12B-1it) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 (Loadit) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²8 (Returnt-1, i) + ÃÆ'Ã… ½Ãƒâ€šÃ‚ µit Where i, represents the fund t, represents the time period Korkeamaki and Smythe (2004) also used a similar regression model to explain the returns over time for Finnish mutual funds for the period 1993-2000. (Daniel C. Indro, 1999) used the 683 non indexed US equity fund annual return available on the database of morning star. Performance in terms of growth of Net Asset Value (NAV) per unit is commonly applied measure of performance of mutual funds. According to Firth (1977), the growth of NAV is measured in terms of rate of return over a period of evaluation using the following equation: R1 = D1 + (P1 P0) P0 R1 = Rate of Retun P1 = current price D1 = Dividend for the period P0= Old Price 3.3 Statistical Test and Instrument: The technical tool which used in this research in order to evaluate the performance of mutual funds is SPSS. Regression analysis is applied on 3 years Data (2007, 2008, and 2009) Dependent variable is Annual Return. Independent Variables Fund Size Fund age Expense Ratio CHAPTER 4 RESULTS 4.1 FINDINGS AND INTERPRETATIONS OF RESULTS: Table 4.1.1 : Correlation Result  Return Infund size Age Expenseratio Return Pearson Correlation 1 0.149 -0.106 -.666*  Sig. (2-tailed)  0.345 0.503 0.000  N 42 42 42 42      Infund size Pearson Correlation 0.149 1 0.151 -0.106  Sig. (2-tailed) 0.345  0.332 0.498  N 42 43 43 43      Age Pearson Correlation -0.106 0.151 1 0.393*  Sig. (2-tailed) 0.503 0.332  0.009  N 42 43 44 43      Expense ratio Pearson Correlation -.666* -0.106 0.393* 1  Sig. (2-tailed) 0.000 0.498 0.009   N 42 43 43 43 * Correlation is significant at the .01 level (2 tailed) Above mentioned table is showing the correlation analysis which basically tests the strength of the relationship between two variables without any interference of any other variables. Here researchers tested relationship between independent and dependent variables. Return is significantly correlated with Expense ratio whereas Age and Fund Size is not correlated with Return. Table 4.1.2 : Regression Result    Model Summary b   Model R R Square Adjusted R Square Std. Error of the Estimate 1 .683a 0.467 0.425 0.0244848      The model summary table reports the strength of the relationship between the model and the dependent variable. R, the multiple correlation coefficients, is the linear correlation between the observed and Model-predicted values of the dependent variable. Its large value indicates a strong relationship R square shows that 46.7% variance in return is accounted by the independent variables (fund size, age, and expense ratio) As a whole, the regression does a good job of predicting the performance. Nearly half the variation in Dependent variable (Return) is explained by the model. R Square, the coefficient of determination, is the squared value of the multiple correlation coefficients. It shows that about half the variation in time is explained by the model. R square Value explains that how well the independent variable is explains their impact on dependent variable. Table 4.1.3: ANOVA Result ANOVA b Model  Sum Of Squares df Mean Square F Sig        1 Regression 0.020 3 0.007 11.091 .000a Model  Sum Of Squares df Mean Square      1 Residual 0.023 38 0.001  Total 0.043 41  The ANOVA table tests the acceptability of the model from a statistical perspective. The Regression row displays information about the variation accounted for by the model The Residual row displays information about the variation that is not accounted by the model. The regression and residual sums of squares are approximately equal, which indicates that about half of the variation in return is explained by the model. The significance value of the F statistic is less than 0.05, which means that the variation explained by the model is not due to chance. While the ANOVA table is a useful test of the models ability to explain any variation in the dependent variable, it does not directly address the strength of that relationship. Table 4.1.4: Regression Coefficient Coefficients a   Unstandardized Coefficients Standardized Coefficients  Model  B Std. Error Beta t Sig. 1 (Constant) 0.103 0.103  1.001 0.323  Infundsize 0.001 0.005 0.020 0.168 0.868  Expenseratio 0.015 0.003 -0.722 -5.532 0.000  Age 0.003 0.002 0.16 1.233 0.225 a. Dependent Variable: Return This table explained the regression coefficients and its significance while this regression equation will help in order to develop ordinary least square (OLS) equation which use to test the hypothesis of each independent variables 4.2: HYPOTHESES ASSESMENT SUMMARY Proposed hypothesis was: Fund size has a positive relationship with the return. Expense ratio has a negative relationship with return of fund. Age of funds positive relationship with return of fund. The P value for beta coefficient of fund size is .868 and expense ratio is .000 and 0.225 for age coefficient. Only expense ratio P value shows the relationship and we can accept the proposed hypothesis while fund size and age is not significant. Hypothesis Assessment Summary Test hypothesis t-Value Sig Result     ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Fund size has a positive relationship with the return 0.168 0.868 Rejected     ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Expense ratio relationship with return of fund -5.532 0.000 Accepted     ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Age of funds relationship with return of fund 1.233 0.225 Rejected     CHAPTER 5 DISCUSSIONS, IMPLICATIONS, FUTURE RESEARCH AND CONCLUSION: 5.1 Conclusion and Discussion: Although there are thousands of studies related to performance of mutual funds but in Pakistan there is relatively less studies specially in fixed income and money market fund. This study concluded to examine the relationship the impact of fund size, expense ratio and age on the performance of Mutual fund specifically for fixed income fund. This study consists of three years audited data of fixed income and money market mutual funds. Regression analysis used to observe the impact of fund size, expense ratio and age on the return. This study test the validity of the assumption that there is no correlation between the fund size, age, expense ratio and return , get pearsons correlation coefficient, P value for two tailed test of significance and the sample size. R square shows that 46.7% variance in return is accounted by the independent variables (fund size, age, and expense ratio) As a whole, the regression does a good job of predicting the performance. Nearly half the vari ation in Dependent variable (Return) is explained by the model. Our hypothesis was Fund size has a positive relationship with the return. Expense ratio has a negative relationship with return of fund. Age of funds positive relationship with return of fund. The P value for beta coefficient of fund size is .868 and expense ratio is .000 and 0.225 for age coefficient. Only expense ratio P value shows the relationship and can accept the proposed hypothesis while fund size and age is not significant. 5.2 Recommendation and future research After a thorough analysis of data, the following recommendations are made : Investors should focus on so many attributes while investing in mutual funds nor specially on Fund Size as in Pakistan ,investors whether corporates or individual usually invest in mutual funds due to their fund sizes. Old is Gold quote denotes that old mutual fund will give better returns comparitevly. Very Limited data available for Fixed income and money market fund as this type is new in industry after the crisis of stock exchange, Same study could be conduct for stocks fund for further clarification of fund size,Expense ratio and Age of fund. Choose those variables which are available in our mutual fund industry as there are so many technical things which are not present in our mutual fund industry. Fixed income ,Money Market and saving plus type of fund should be clubbed for larger studies and better results. CHAPTER 6 REFERENCES Carhart, Mark M.(1997) On Persistence in Mutual Fund Performance. The Journal of Finance, 57-82 Daniel C. Indro, C. X. (1999). Mutual Fund Performance: Does Fund Size Matter? Financial Analysts Journal , 55, pp. 74-87. Davis, James L (2001) Mutual Fund Performance and Manager Style. Financial Analysts Journal,19-27. Ippolito, Richard A. 1989. Efficiency with Costly Information: A Study of Mutual Fund Performance, 1965-1984. Quarterly Journal of Economics, vol. 104, no. 1 (February):1-23. Joseph Chen, H. H. (2004). Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization. The American Economic Review , 94, 1276-1302. Mack, Sean Collins and Phillip (1997). The Optimal Amount of Assets under Management in the Mutual Fund Industry .Financial Analysts Journal, 67-73 Mark M. Carhart, J. N. (2002). Mutual Fund Survivorship. The Review of Financial Studies , 15, 1439-1463. Michael Adler (1983) Global Fixed-Income Portfolio Management 41-48 Rauf, t. and. (2009). performance evaluation of Pakistani mutual funds. Pakistan economic and social review , 47, 199-214. Ruckman, K. (2003). Expense Ratios of North American Mutual Funds. The Canadian Journal of Economics , 36, 192-223. Servaes, A. K. (1999). The Determinants of Mutual Fund Starts. The Review of Financial Studies , 12, 1043-1074. Sharpe, W. J., (1966). Mutual Fund Performance. Journal of Business, Vol 39, No. 1: 119-138 Sharpe, William F. 1966. Mutual Fund Performance. Journal of Business, vol. 39, no. 1 January):19-38. Sipra, N. (2004). Mutual Fund Performance in Pakistan. Centre for Management and Economic Research , 06-45. Sipra, Naim (2005). Mutual Fund Performance in Pakistan, 1995-2004. CMER Working Paper Series. Talat and Rauf .Perfomance evaluation of Pakistani Mutual Funds, 2009 .Pakistan economic and social review. Vol 47, No. 2, 199-214 Titman, M. G. (1989). Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings. The Journal of Business , 62, 393-416. Warner, S. P. (2001). Evaluating Mutual Fund Performance. The Journal of Finance , 56, 1985-2010.

Sweatshops And The United States Essay - 1344 Words

A majority of the clothing worn and purchased today in the United States has been manufactured overseas in sweatshops. Since the beginning of factories and businesses, owners have always looked for a way to cut production costs while still managing to produce large quantities of their product. It was found that the best way to cut costs was to utilize cheap labor in factories known as sweatshops. According to the US General Account Office, sweatshops are defined as a â€Å"business that regularly violates both wage or child labor and safety or health laws†. These sweatshops exploit their workers in various ways: making them work long hours in dangerous working conditions for little to no pay. Personally, I believe that the come up and employment of these sweatshops is unethical, but through my research I plan to find out if these shops produce more positive than negatives by giving these people in need a job despite the rough conditions. The earliest use of sweatshops labor can be traced back to the time of Spanish conquistadors and the colonization of South America. In Ecuador, the native people were forced to work under terrible conditions in mills that produced garments, cloth, and various other textile goods. Moving forward on the historical timeline to Europe’s Industrial Revolution, sweatshops became increasingly more common. In 1889 the British government launched the first investigation into the terrible conditions under which sweatshop workers, namely women and children,Show MoreRelatedSweatshops : The United States Of America1651 Words   |  7 PagesSweatshops can be defined in many different ways. Sweatshops are factories that don’t follow U.S. fundamental labor laws. This includes; if the workers are getting paid enough; or if they are getting taken advantage of because of age. Sweatshops are factories that mostly make clothing, and have workers that work long hours at low costs in terr ible conditions. In fact, this happens mostly in underdeveloped or developing countries. According to the website, â€Å"dosomething.org† in the article â€Å"11Read MoreSweatshops Vs. The Us Government Dialogue. Congressman:952 Words   |  4 PagesSweatshops vs. the US government dialogue Congressman: Should the United States’ government keep using the sweatshops? Utilitarian: The United States government should consider the effects of using sweatshops to the workers before using them. Libertarian: The United States’ government are at freedom to make the use of any procurement design. Market Critic: The United States’ government should be considerate of any action they make since it ends up affecting practices in the entire business worldRead MoreSweatshops : Morally Permissible Or Not?1645 Words   |  7 PagesHCCC Dec. 5, 2016 Sweatshops: Morally Permissible or Not? Many of the products sold in America, nationwide, are usually not even made by the people of our country or in our country. These products are usually made overseas in sweatshops. Sweatshops is a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions. After knowing the definition of a sweatshop, I believe that sweatshops are permissible butRead MoreEssay on Sweatshops1080 Words   |  5 Pages Sweatshops in the United States Americans love to shop. With malls everywhere you go, shopping just might be Americas favorite past time! When you are out shopping though, do you ever stop to think where all of those clothes and shoes come from? When I was younger, well, actually until recently, I always thought they were all made by machines. Shirt machines, pants machinesamp;#8230;you get the picture. I have learned, however, that for the most part, clothes are still made on sewing machinesRead More Child Labor and Sweatshops are a Current Problem in the Fashion Industry1571 Words   |  7 PagesLabor and Sweatshops are a Current Problem in the Fashion Industry   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many societies face the much overlooked problem of child labor and sweatshops in the fashion industry. Recently, Americans were stunned to learn that their apple pie sweetheart, Kathie Lee Gifford was associated with the exploitation of underage workers in Honduras. Giffords story began the resurgence of knowledge of the growing problem of sweatshops in todays society. Contrary to popular belief, sweatshops still existRead MoreSweatshops : Positive Deviancy And Global Labour Practices And The Ethical And Economic Case Against Sweatshop Labor1675 Words   |  7 PagesSweatshop Labor Two works adequately address the increasing critical discourse of sweatshop labor. The two works are titled Beyond Sweatshops: Positive Deviancy and Global Labour Practices and The Ethical and Economic Case Against Sweatshop Labor: A Critical Assessment. The former was authored in July 2005 by Denis Arnold and Laura Hartman. The latter was written in September 2011 by Benjamin Powell and Matt Zwolinski. The authors of both works are undeniably qualified and are experts in theirRead MoreEssay on sweatshops594 Words   |  3 Pages Sweatshops nbsp;nbsp;nbsp;nbsp;nbsp;As companies grow larger and more competitive, they are looking for cheaper ways to produce their wares and increase their profit. That is, after all, how companies are able to succeed, by giving their customers a comparable product for a cheaper price. This increases sales and the overall bottom line. Which seems to be a beneficial plan for both the companies and the consumers. That is, as long as the consumers don’t know how the product is being producedRead MoreComing From The Republic Of Ghana1527 Words   |  7 PagesComing from The Republic of Ghana, I know firsthand that sweatshops and the child labor that takes place in them can be both dehumanizing and destructive. However, I also understand the benefits of sweatshops. Despite all the facts that prove that sweatshops and the child labor that happens in them are bad, the truth of the matter is that some places have now become so dependent on the income they are receiving from sweatshops that t here is no alternative in their minds. In addition, some kids haveRead MoreNo Sweat! Essay730 Words   |  3 PagesBonvillain October 7, 2010 Jean Baptist Meunier English 1001 No Sweat! Sweatshops date back to as far as the 16th century, but were first exposed in Britain in 1889. Around the 1830s-1840s, immigrants started coming to the United States and organized sweatshops in tenement buildings. Despite poor health problems and disease from the harsh conditions, immigrants needed the work and were appreciative. Today sweatshops are often found in slow, developing countries, but many are found around theRead MoreThe True Cost Of The Garment Industry1017 Words   |  5 PagesI. Claim Everyday, millions of consumers in the United States contribute to the harsh treatment, under paid, and sexual abuse of factory workers all over the world. The garment industry, one of the largest in the world, generates over 3 trillion dollars a year yet the average monthly wage is 21 dollars a month, 80% of whom are women, and including children ages 5 to 14. While most apparel used to be manufactured in the United States, in the past decade a majority of manufacturers have moved

Essay on High Availability Database System - 1268 Words

High Availability Database System Today, we depend so heavily on information systems that system outage or loss of data is more and more intolerable. Sometimes the loss of critical data relates directly to the survivability of an enterprise. This draws our attention to the dependability of information system. According to dependability is â€Å"the ability to avoid service failures that are more frequent and more severe than is acceptable† and availability is one of the most important attributes of dependability. Since database systems are the back end of most information system, their availability is critical to the availability of whole information system. Ensuring the continuous availability of the computing resources in the enterprise is a†¦show more content†¦High convenience places additional rigorous demands on the system, requiring minimum levels of service and strength within the face of failures. An oversized spectrum of applications would like higher levels of accessibility from their Database Management System (DBMS), as well as real period of time and embedded systems, internet applications and alternative sorts of online systems. Availability can be defined as the time that a system or resource is available for use. The definition of high availability is typically measured according to its percentage of absolute availability where 100 percent means that the resource is available all of the time and there is no downtime. However, 100 percent availability is very difficult to achieve. A robust software system will handle typical and traditional failures (like, power loss) and preserve information integrity, at the loss of information accessibility throughout recovery. However, high accessibility demands might necessitate recovery from additional severe failures, like media (failure) and network failure. Some things would like reduced or no time period for recovery from failures. A. Factors Influencing Availability The demands for information to be available 24 hours a day, 7 days a week, and 365 days of the year are influenced by many factors. The principle factors that can act as barriers to creating a highly available operating environment are: †¢ People †¢ Process †¢ TechnologyShow MoreRelatedBusiness Impact Analysis Paper728 Words   |  3 PagesDatabases - Implement High Availability for Mission Critical Mission critical databases support services that have an immediate, direct, and significant impact on revenue, goodwill, health and safety, and regulatory compliance. They require more attention than other systems. I will be discussing the following topics in this paper 1. Understand why implementing high availability for mission critical databases is so important to ITs success. 2. Learn why true availability relies on people, processRead MoreThe Reliability Of Data Migration826 Words   |  4 PagesReliability of Data Migration Over many ago relational databases reside most of the data but after the introduction of NoSQL database had changed this procedure. Most of the unstructured data had been sent to NoSQL database. Relational database systems, which showed good performance before the birth of internet and cloud computing era is now unable to control the heat of new technologies. To stabilize this situation new requirements were set to design by RDBMS. To meet these challenges they needRead MoreSwot Analysis : Nosql Db Over Relational Db1287 Words   |  6 PagesTraditional database are inefficient for storing large amount of data because of high usage of cloud and internet and the demand for data bases which are efficient in storage and retrieval are increasing more. Databases which can process data at high speed are gaining demand. Introduction: Present day clients who are using the traditional databases like Oracle, DB2 etc and are experiencing delays in performance. So there in need to overcome all the drawback of the traditional database and researchRead MoreRelational Database Management System ( Rdbms )1210 Words   |  5 PagesAbstract Relational database management system (RDBMS) have used for many decades. However, these databases are facing several challenges with the requirements of many organizations like high scalability and availability. They cannot deal with huge amount of data and requests efficiently. As a result, famous organizations such as Google and Amazon shift from RDBMS to NoSQL databases. NoSQL databases have several features that overcome issues. This paper explains features, principles, and data modelsRead MoreFacebook s Cassandra ( Column Oriented ) Essay1347 Words   |  6 PagesFacebook’s Cassandra (Column-oriented) There is also a much talked about database called Cassandra which also needs to be discussed. It was originally developed by Facebook as open-sourced in 2008 [6]. Facebook was among the first to try the system for its inbox search system, which controls and stores in its disk space, and with the high performance of the system within its service level agreement requirements more applications like Netflix, Twitter etc. embraced Cassandra as their storage engineRead MoreUnderstanding Of Data Center Bridging1701 Words   |  7 Pages DC BRIDGING, HIGH AVAILABILITY, AWS (Final-paper) Sai Sujit Tokala Northeastern University ITC-6305 Eugene Von Taube 10/30/15                               Abstract This paper articulates basic understanding of data center bridging in a data centers, high availability of resources and high availability conditions, which includes advantages and disadvantages. Amazon web services (AWS) and brief understanding of it fundamental resources like EC2 instances, loadbancers, dynamo DB, VPC and many more ofRead MoreDatabase Security : A Comprehensive Approach For Data Protection1352 Words   |  6 Pages Abstract As organizations increase their reliance on, possibly distributed, information systems for daily business, they become more vulnerable to security breaches even as they gain productivity and efficiency advantages. Though a number of techniques, such as encryption and electronic signatures, are currently available to protect data when transmitted across sites, a truly comprehensive approach for data protection must also include mechanisms for enforcing access control policies based on dataRead MoreSynopsis Of Nosql V. Data Model II1472 Words   |  6 PagesNoSQL databases Study Report Nikitha Edunuri 800817767 Table of Contents Introduction III Abstract IV Overview of NoSQL V Data Model VI Document base model VI Key-value Stores VII Graph Stores VII Wide Column stores VIII Criteria to be considered IX Conclusion XI References XI INTRODUCTION I was always inspired by the idea of storing large amounts of structured and unstructured data. Therefore I chose to finish my concentration in Data Management. I have finished theRead MoreSecurity Of Nosql Database Against Intruders Essay1707 Words   |  7 PagesSecurity of NoSQL Database against Intruders Abstract The evolution of distributed web based applications and cloud computing have generated the demand to store voluminous of big data in distributed databases efficiently to offer excessive availability and scalability to users. The new type of database resolves many new challenges especially in large-scale and high concurrency applications which are not present in relational database. These new sorts of databases are not relational by using explanationsRead MoreAn Inverse Of A Relational Model1003 Words   |  5 Pagesbe used which is nothing but a column containing nested sub-columns. 2.4.1 Cassandra: Apache Cassandra is open source NoSQL database and it was found in Facebook. Cassandra s data model offers the convenience of column indexes with the performance of log-structured updates. It provides horizontal scalability and the downtime is lesser compared to the relational databases which provide vertical scalability. The read and write throughput increases through horizontal scaling and there is Fault tolerance

Religious Practice and Economic Activity †Free Samples to Students

Question: Discuss about the Religious Practice and Economic Activity. Answer: Introduction: The economy is driven by organizations which seek to produce a product or provide a service as required by the users. Organizations cant exist in isolation hence they must interact with other institutions to access raw materials or supplies which they make into a product and send it out as a finished sample. Each organization is a social entity which comes up with goals and operates on deliberate structures with identifiable boundaries. They seek to respond to and create value to satisfy the human needs in terms of knowledge, values and vision. It is a human creation whose operation and yields are obtained from the ways we govern them and of the social, institutional and political structures within which they operate. To run well, an organization needs to come up with a strategic plan. This plan is useful in governing the operations of a company over a long period of time for instance for about five years before it is reviewed. In that given period, a number of targets are set and th ey need to be met for the growth of the company. Organizations have adopted different trends in the current economy (Baltzell, n.d.). The open system view of an organization can be described as shown in the illustration below, This paper seeks to analyze the different theories under organizational strategic and deterministic processes. The theories that are critically analyzed in this research proposal are the resource dependent theory, the population ecology, and the institutional theory. The next section critically analyses the implementation of each theory in the current organization structure. The paper responds to the research question which seeks to find out the authors perspective on the most compelling strategic choice or determinism with reason. The conclusion restates the main perspective and the response as critically discussed in the next section. The main and most effective theory still applicable in the modern age is the resource dependence theory. Every single organization is set to reduce costs while maximizing profits. All the strategic plans made revolve around this concept. To increase the yields, the resources must be well managed and the organization may need to obtain the raw material s more cheaply. In the business world there are incidences of takeovers, mergers, and acquisitions all the time. All these strategic moves are based on the need to manage resources (Archer, n.d.). Every organization deals with customers, suppliers, distributors, regulatory agencies, competitors, unions, partners, and special interests. The organization deals with uncertainties from the internal and external environments. More uncertainty results when the organization has to deal with complex, changing or poor-quality elements. This paper discusses the theories that handle the environment relationships of an organization to another or others. Resources Dependent Theory One of the main aims of an organization is to minimize its dependence on other institutions. Dependence on other organizations has a cost implication especially when scarce raw resources are being provisioned. The resource dependence theory seeks to explore how an organization can exert influence over others so as to obtain the resources as well as responding to the needs of other institutions in its immediate environment (Bansal, et al., 2011). Organizations can have either symbiotic or competitive interdependencies. They obtain scarce and valued resources form environments. There is a desire in each entity to control resources to minimize the dependencies. The processes and transactions used to obtain resources develop dependencies. The balancing act of maintaining autonomy and recognizing dependencies is a plausible strategy for a given entity. A company can opt to choose an interorganizational strategy that provides the most reduced uncertainty with least loss of control. the org anization can maintain a symbiotic interdependence with other organizations by developing a good reputation and co-optation, or implementing strategic alliances. Good reputation and trust are the most common linkage mechanisms in this relationship as well as having the interlocking directorate where a director in one company sits also in the board of another company (Carter, n.d.). The resources refer to the human resource, the raw materials, and the networks that ensure the business cases are relevant at each point in time. There is a trend in the formulation of alliances in the management of interdependencies where formal alliances are preferred and the stronger they are the more prescribed the linkage and tighter control of joint activities. Another strategy employed under the resource dependence theory is takeover and mergers. The implication of such a move is to increase the resources in the newly formed company increasing the market or customer base as well as boosting the sha re prices. For instances where companies are in hostile competition, takeovers are prevalent where the company with more resources buys out another competitor who may be doing badly in that field or business at the time. This theory has been implemented in different fields and in organizations even in the current world. Another strategic choice and deterministic theory discussed is the institutional theory. Some of the institutional pressures involved are coercive, normative, and mimetic. When the organization structure is bound to make decisions, some of the strategic responses are compromise, avoidance, defiance, manipulation, and acquiescence (Wuthnow, n.d.). The institutional theory brought a revolution in the social, economic, and political spheres. It sought to address issues such as which area would shape or channel the economic behavior and under what conditions were participants forming the organizations (Pettigrew, 2011). The theory sough to emphasize the integration of the organizations within a wider political, legal, and cultural context. The theory is driven by the problematic state of different organizations that operate in different environments while maintaining the same structures. The theory is concerned with the processes by which the structures and routines are established as au thoritative guidelines for social behavior. It seeks to find out how the elements of the organization are generated, assimilated, and adapted over time in a particular realm (Joyce, n.d.). The theory suggests that the activities occur due to influences on the individual, organizational, and inter-organizational levels. However, the theory has been stretched beyond its core purpose in a bid to understand how the organizational structures and processes acquire meaning and continuity beyond their technical goals. The existence of a business is generally determined by the statutory commitments, the number of employees and the resources amassed (Friedland, et al., n.d.). The societal institutions are powerful forces for ensuring control and order. In response to the institutional pressures, entities tend to develop isomorphic strategies, structures, and systems with the aim of obtaining the social legitimacy. Some of the fields where the institutional theory is well applied are the banks , universities, and the various discount stores. Every organization is affected by the population ecology. The theory suggests that there is need to address the demographics and the population behavior within a given market share. The theory prompts the organization to describe its population or customer base in terms of the density, dispersion, and demographics. It figures out how the density dependent and density independent factors can control population growth. The theory states that the population cannot be considered stable and the fluctuation affects organizations. There are complex interactions between the biotic and abiotic factors that can cause the variation in the size of a population. Demographics studies the statistic information of populations so as to allow predictions to be made about how a population will change. An organization will be interested in knowing the size of the population in a given area, the measurement or population per unit area or the population density as well as the migration factors. For instan ce, if the organization wishes to set up premises in a given area, it is important to know if they will have a good stable customer base in the given region. Frequency of migration especially where people are moving away from a given region, tends not to be good for an organization. Most organization look at such factors when setting up shop. The growth rate of a region is also key in determining whether the population is suitable for an entity or not. Where the population is not growing, a business will not survive long enough. The three theories analyzed give a good background of all the factors that are considered when making deterministic decisions as opposed to the normal operational or transactional decisions. The strategic decisions require in-depth research into how the organization will survive and grow over a period of about five years, ten years, or even fifteen years. The theories are relevant but the resource dependence theory is key. Companies are moving from the classical structure of full employment to outsourcing. Outsourcing saves an organization a lot of costs especially those regarding employee management. Resources determine whether an organization will succeed in the given strategic planned period or not. The theory may not be implemented in isolation of the other three but it stands out as the most deterministic theory. Many decisions are made based on it. Several organization have taken over other organizations to acquire more resources or infrastructure or supplies. The takeovers and mergers are done horizontally, vertically, or even laterally. The organizations can merge on the same level to increase the size of the organization. The entities can merge vertically to have direct access to the raw materials instead of obtaining them from a middle man such as a distributor. Others merge to have a wider customer base for their products and goodwill in that regard. Organizations are becoming more dynamic and the systems are not as rigid as they used to be hence there is a great move to improve the organizations as stipulated in the strategic plans listed. Some of the common symbiotic interdependencies that profit an entity are joint ventures, mergers, acquisitions, and takeovers, licensing, consortia, marketing or distribution agreements, and franchising. To obtain such interdependencies, the business entities require a good reputation, co-optation, interlocking of directorates, strategic alliances, long-term contracts, and the equity ownership in other firms. Conclusion In a nutshell, there are several theories that govern the strategic plans in an organization. The deterministic theories discussed in this research proposal are the institutional theory, the population ecology, and the resource dependence theory. The theory is relevant in the fact that the organizations must be concerned about the population that comprises their customer base or their supply chain. The business entity must also be an institution in legal, social, and economic terms. The entity must be recognized and a lot of marketing goes into advertising the business for the population to know of its existence. similarly, the organization requires resources to yield products. the resource dependence theory has superseded all other theories in its implementation in the modern day. The resources in an organization determine the organization size and the business prosperity. The organization effectiveness can be assessed based on the resources acquired over a given period of time as s tipulated in the strategic plan. References Archer, M. n.d. Realist social theory: The morphogenetic approach. Cambridge: Cambridge University Press. Baltzell, E. D. n.d. Puritan Boston and Quaker Philadelphia: Two Protestant ethics and the spirit of class authority and leadership. New York: Free Press. Bansal, P and Corley, K. (2011) The coming of age for qualitative research: Embracing the diversity of qualitative methods, Academy of Management Journal 54(2) , 233-237. Carter, I. n.d. Farmlife in Northeast Scotland 1840-1914: The Poor Mans Country, Edinburgh: John Donald. Friedland, R. and Alford,R. n.d. Bringing society back in: symbols, practices, and institutional contradictions, in W. Powell and P. DiMaggio (Eds.) The new institutionalism in organizational analysis: 232-266. Chicago: University of Chicago Press. Joyce P. n.d. Work, society and politics: The culture of the factory in Later Victorian England, Brighton: Harvester. Mutch, A. (2012) Systemic accountability and the governance of the Kirk: the Presbytery of Garioch in the eighteenth century, Northern Scotland. Sheffield November 2011 18 Mutch, A. (2011) Custom and personal accountability in eighteenth century south Nottinghamshire church governance, Midland History, 36(1), 69-88. Mutch, A. (2009) Weber and church governance: religious practice and economic activity, Sociological Review, 57(4), 586-607. Mutch, A. (2006) The institutional shaping of management: in the tracks of English individualism, Management Organization History, 1(3),, 251-271. Mutch, A. (2004) Management practice and kirk sessions: an exploration of the Scottish contribution to management, Journal of Scottish Historical Studies, 24(1), 1-19. Pettigrew, A. M. (2011), Scholarship with Impact. British Journal of Management, 22: 347354 Stedman-Jones, G. (1983) Languages of class: Studies in English working-class history, 1832- 1982, Cambridge: Cambridge University Press. Wuthnow, R. n.d. Communities of discourse: ideology and social structure in the Reformation, the Enlightenment, and European Socialism. Cambridge, MA: Harvard University Press