Electronic security Essay Example for Free

Electronic security Essay Electronic security is defined as any tool or technique that is used purposely to protect systems information assets. E-security is very valuable element in e-commerce since it adds value to the computer network as it composed of both soft and hard infrastructure E-security has been a matter of debate and it has been scientifically argued to be of great importance to economic development as it aid efficient trade and commerce. E-security has enhanced safe transaction and this has enable customers needs to be taken care off. Through e-security market place has expand since on line is very vital in that it enable many customers to be access to safe markets.   Computer security systems enhance effectiveness, efficient, satisfaction of customers. E-security systems also aids proper decision making concerning security susceptible situations through user interface design (Marco, 2003) E-security has been considered to a fundamental aspect in ensuring that technology benefits an organization in bringing both social and economic development. Development of on line environment has the impact of creating trust amongst its users and this has been taken by many organizations as a priority in order to gain competitive advantage. (Marco, 2003)   Goals of the study of an academic study Security has been subjected to various studies because of the fact that it aids in organization operations. It has been viewed by government entities as an idea of great demand that should be given priorities. The academic study by the Carnegie Mellon University was conducted to ascertain the level of security that can be derived from use of e-security in any given transaction (Marco, 2003) Goals of the private organization study On the other hand, a private organization study was conducted with almost similar goals to the former i.e.   The aim of ascertaining that there is protection of attributes of information security. These attributes include confidentiality, availability and integrity (Marco, 2003). It was also conducted with the objective of factors that can lead to failure of e-security in organizations either through poor planning and design or   overall complexity of electronic security architecture that are concern with sustaining the above attributes. It is vital to comprehend that proper security process encapsulates and consolidates the various processes in an organization such as detection, prevention and recovery of information and other relevant data. .Reasons for conducting the study The academic study was conducted with the aim of ascertaining the methodological approach that can be adopted by organizations and other business institution when assessing the level of competency that it poses in implementation of e-commerce in presence of e-security. To analyze how organization can be effectively and efficiently formulate electronic security and electronic commerce strategies to enhance proper functioning of the organizations To enable the organization to understand the factors that contributes to wide spread of e-security and electronic commerce in the global economy. The study was conducted to articulate major variables that bring about extensive use of the e-security by the business organizations. To compare electronic security, electronic procurement, electronic commerce, payments systems and electronic portals. This is to ascertain the influence that these aspects have brought in terms of global growth in economy. To comprehend and articulate the strategic implications of electronic security on private, public and civil organizations have been able to reduce risk associated cost and how market transactions have been carried out efficiently. It was done to draw inference on the impact of technology and faster flow of information on business transactions. To assess the available options in which e-security can be adopted as a tool for achieving organization goals through proper management strategies To monitor and evaluate e-commerces impact upon current global business   Transactions, technologies and public policy as related to electronic commerce strategy and new technical innovations. Type of data collected The data was collected during the academic study on e-security by the University was surveys from businesses and households on the importance and use of electronic security and ICT in general. The information collected was mainly pertaining trust on IT security. Specific question were being asked concerning the way different households perceived the importance and barriers to Internet commerce. The data collected depends entirely on the traditional strengths of the already collected data which was being used as secondary form of information.   The data collected concerns trust and security of technology services which been employed currently by many organizations. The report that came out of the study was an official data and semi-official data. Both types of data feature the trust that electronic security should be vested with. The official data carries the proposed questions that should be put into consideration before implementing any type of electronic security .How was data collected The data was collected in controlled experiment set up where students who used to attend introductory level business class were the main subjects.   The University employed e-learning package when conducting the study due to the fact that Internet was available. They were randomly assigned certain conditions that were required to follow. Before the actual experiment been conducted students were asked to fill the questionnaire that carries information concerning the demographic profile and other paramount features.   The questionnaires were well validated in order to give correct measures of performance avoidance and any kind of reluctance that the students portrayed (Marco, 2003) Research Questions OF ACADEMIC STUDY The following are common questions that were asked when conducting both studies and they cover important aspects of electronic security and to manage upon its implementation in the organization. These includes policy frameworks, principles, integration with management procedures and more so the significances to total quality management in an organizations. The questions which were asked during private organization study include; What are the some of the principles that influences the transition of electronic security? In what can enterprise security framework enhance the effective administration of electronic security in an organization? In what way can electronic security management be significant aspect to total quality management and enterprise strategic management model? Research questions of the private organization study On the other hand questions which were asked during academic study on electronic security included; In your opinion, what are the significant differences between different ways of electronic payment? What are some of the organization where electronic security has been used extensively? What are safety services been offered electronic security? Instruments used when collecting the data   When conducting the study, the University used very powerful machines such as computers (Intel Pentium 4). The decision made on the use of these computers when collecting data was based on the physical accessibility barriers of the computers and their memory that could make the work of the student very easy. They collected packet traces for each of the experiment and these traces carried data that allowed the group to analyze control packets (AlAboodi, 2003). Results of the study After conducting the study, what came out clearly was the fact that e-security and other web service technologies have had a far-reaching influence on business operations in organizations. Web services and electronic securities have enable organizations to carry out the transactions without the human intervention. It has enable data and applications to flow in without being monitored by the human being. It was also noted that electronic services can be put in place in wide variety of architectures hence can co-exist with other technologies. These services can be adopted in an evolutionary manner in absence of main transformations to legacy applications. Furthermore, it was realized that challenges posed by security cannot be avoided. From the study it was discovered that there exist difficult issues that an organization should put into consideration before implementing any electronic security. These include; Lack of confidentially and integrity of data that depend upon electronic security for its transmission. Service to service transactions are not being trusted by many business organizations due to lack of confidentiality. Availability in the face of denial of service attacks that exploit vulnerabilities unique to Web service technologies, especially targeting core services, such as discovery service, on which other services rely. Functional integrity of electronic security has been subject of debate in many organizations due to the fact that it is not been trusted by many organizations (AlAboodi, 2003). Results study of private organization study The end results of private organization study conducted on electronic security was that improved security is very important to organizations since it adds value to the organization. These are achieved by use of electronic security to enhance good interaction with the potential traders across the globe. Through use of electronic security organizations have been able to gain competitive advantage over their competitors because they are able to maintain closer customer relationship. From the study conducted, it can be concluded that proper employment of electronic securities enable companies to improve their reputation which in turn helps to maintain and retain customers (AlAboodi, 2003) The results obtained from the studies conducted have a very practical value in the sense if a company put in place a well functioning electronic system; it is a position to make a lot of sales. These is as a result of good maintenance of potential customers by the virtue that safe transaction are been carried out between the customers and the organization. If information security and electronic security is well managed, it results less costs of operations been incurred. In addition, electronic security is the basis for healthy foundation for implementation of good business structures and other vital frameworks which are factors that fosters economic growth been experienced in the organization These include Total Quality Management(TQM) and Enterprise Resource Planning(ERP) (AlAboodi , 2003)

Seeking Atonement in Crime and Punishment Essay -- Crime Punishment Es

Seeking Atonement in Crime and Punishment Raskolnikov, the protagonist of Dostoyevsky's Crime and Punishment was a complicated man who committed a crime. Raskolnikov murdered a woman who was a plague to mankind, especially the poor of Russia. In the chilling process however, he also murdered her younger sister, Lisaveta. To be purified, he drives himself through much agony. Not until the closing of the novel did he realize he must confess to be atoned and to find love. Consciously, Raskolnikov was averse to admitting his misdeed. He rationalized himself by asserting that the ends justify the means. Alyona's malignant nature, extremified by her outward appearance, and effect on the base community depending on and surrounding her. Her sole use for the profits were to upkeep continuous prayers in her horrible name. Although Raskolnikov excused himself this way, the true and conscious reason was only to test his power and ideologies about criminal psychology and the "superman". In his theory, to be above the law one cannot be discovered because to be punished would be to...

Self development and attaining my SMART goals

I have a dream. I see myself as the main HR strategian of a universe renowned media company or a top HRD consultancy. Sound academic apprehension of HR is a precedence developmental demand, as highlighted in â€Å" 11 Qualities of Effective Directors † Pedler et Al. ( 2006 ) . I am from Pakistan and am remaining in the UK for my married woman ‘s PhD. Using this as an chance I have enrolled on the MSc. HRD & A ; Consultancy class. Different larning manner appraisals helped border my apprehension of myself as a learner/manager. My learning manner is Tactile/Kinaesthetic harmonizing to Jester ( 2000 ) . I view my calling as an chance to accomplish meaningful aims in a larger context. Here Schein ‘s ( 2006 ) appraisal sees strength: SV/Dedicated to Cause. I qualify as Directive on the Rowe ( 1987 ) Inventory and on Belbin ‘s ( 1981 ) I am an Implementer, Team-worker and Monitor/Evaluator. A Reflector on Honey Mumford ( 1986 ) appraisal, my personality type/signat ure on Personal Style Inventory Hogan and Champagne ( 1980 ) is ESTJ ( Extrovert, Sensing, Thinker, Judger – Stabilizer ) , whereas I am the Confronting Owl on the Conflict Questionnaire Thomas & A ; Kilmann ( 2007, 1974 ) . An illustration linking and specifying most of the above findings may be that I want to do a difference by inventing and implementing HR schemes which have a lasting impact on employee well-being [ dedication to do ] . With aims like this, I like to be at the helm of personal businesss, preferring full liberty and control over the state of affairs [ directing ] . This brings independency to form and travel things at the needed yet desired gait and affords me clip to believe things through, listen to everybody before make up one's minding and carefully see results before reasoning [ reflector ] . I love to be involved in community activities. Persevering, realistic, practical, loyal, steadfast, logical, are keywords for depicting me [ ESTJ ] . However, my calling programs are under menace as I face redundancy at work. My married woman is anticipating a babe so I may hold to either postpone the grade or axial rotation back wholly due to pecuniary solvency issues. This write-up critically reviews consequences of assorted larning manners appraisals and derives a Personal Development Plan holding with the averment that persons are responsible for their calling development and non merely organisations CIPD ( 2010, 2003 ) . It suggests possible ways for self-development and achieving my Smart ends. Guidance is provided on get the better ofing failings to understate and forestall current and future menaces. I can non and make non govern out the possibility of this being revised as my calling evolves in future ( possibly 5-10 old ages ) .Career history, Life state of affairss, Overall intent of planIntroductionI started my calling as HR/Admin Officer working for an NGO after finishing M.A. in English from Pakistan. The experience proved to b e the diving deck to the field of HR. After 4 old ages in the function, I joined as Senior HR Officer at GEO TV Network, one of Pakistan ‘s prima intelligence channels. A twelvemonth subsequently I moved to London when my married woman was awarded a scholarship for PhD. At present, I am free-lancing at one of UK ‘s taking messenger companies as Training Support Co-ordinator. My married woman is anticipating a babe and I may confront redundancy. My grade in English was my male parent ‘s pick and since the really start of my calling in HR, I felt the demand of complementary formal instruction. Thus, I had two aims: foremost, geting a sound understanding on academic degree ; 2nd, heightening professional competency, personal/self development. Bing in London has helped as I have enrolled for a specialist grade in HR. Developing a personal development program is an exercising in forming oneself, placing development demands, and puting precedences. The really first positive consequence of this exercising I noticed was that I learned how non to prioritize and discovered that I could ever utilize the PDP as a tool/meter to maintain a cheque on personal development. I can see that the PDP will function as my usher towards developing a ‘resilient sense of personal efficaciousness ‘ ( Bandura, 1994: 72 ) .Self-description & A ; AnalysisI want to go on my calling in HR. Miles and Snow ( 1996: 97 ) following Arthur et Al. ( 1989 ) see calling as â€Å" the germinating sequence of a individual ‘s work experiences over clip. † At present I am working as Training Support Co-ordinator at a company ‘s Technical section. However, I am looking to exchange back to HR every bit shortly as I get a HR related occupation. Given that I was Senior HR Officer before traveling to London, in my new occupation i.e. in the UK, I expect to be at least on the same place if non an associate director or director. If, nevertheless, I have to travel back to Pakistan, I will fall in my parent organisation GEO TV Network and continue with my programs. Between the following 5-10 old ages I plan to concentrate on developing expertness in strategic decision-making and policy preparation. I aim to work my manner to accomplishing a top place e.g. Director HR in a prima company like Reuters. It is the sense of fulfillment and effectivity that I am seeking. Effective callings net income persons, organisations, and society, notes Wilensky ( 1961 ; cited in Miles and Snow, 1996 ) . Earning sufficient expertness while traveling step-wise up the calling ladder, I will guarantee that I have sound apprehension of and experience in functions like ‘partner in scheme executing, administrative expert, employee title-holder, and alteration agent ‘ Ulrich ( 1998 ) .Learning/Development Needs AnalysisIdentifying larning manner is polar to developing a PDP. Learning Manners can be identified by taking learning manners appraisals which highlight learning/development demands, placing nucleus competences and strengths and observing spreads. Table 1 on the following page shows consequences from assorted appraisals. Learning Style, Keefe ( 1979:2 ) is a â€Å" complex of characteristic cognitive, affectional, and physiological factors that serve as comparatively stable indexs of how a scholar perceives, interacts with, and responds to the acquisition environment. † While with Stewart and Felicetti ( 1992:1 ) acquisition manners are â€Å" educational conditions under which a pupil is most likely to larn. † Therefore, larning manner is non about â€Å" what † is learned, instead â€Å" how † it is learned.Table 1: Learning/Development Needs AnalysisThere is greater consistence in the concluding consequences of the analysis than in-consistency. Sound academic apprehension of HR is a precedence developmental demand, as highlighted in â€Å" 11 Qualities of Effective Directors † Pedler et Al. ( 2006 ) . In consonant rhyme with my purpose of heading the HR section of a celebrated company, this questionnaire assesses most of the qualities likely to be needed to accomplish my purpose. As the rubric suggests, the questionnaire seems designed for on-job professionals.11 Qualities of Effective DirectorsCommand of basic facts Relevant professional cognition Continuing sensitiveness to events Analytical, job resolution, decision/ judgement-making accomplishments Social accomplishments and abilities Emotional opposition Pro-activity Creativity Mental legerity Balanced larning wonts and accomplishments Self cognition Pedler et. Al ( 2006 )Table 2: 11 Qualities of Effective DirectorsWhile taking the Honey and Mumford ( 1992 ) assessment a notable point was that even after I took the appraisal twice, with a spread of about two hebdomads I scored the highest for being a Reflector, considered to be more thought and less practical. Honey and Mumford ( 1986 ) proposed the Learning Styles Questionnaire ( LSQ ) claiming it to be more meaningful than Kolb ‘s ( Swailes and Senior 1999 ) . However, this theoretical account owes its origin to Kolb ( 1984: 41 ) , â€Å" acquisition is the procedure whereby cognition is created through the transmutation of experience. Knowledge consequences from the combination of hold oning experience and transforming it. † Kolb ‘s ( 1988 ) posit is based on the construct of experiential larning with the acquisition procedure affecting four distinguishable larning abilities/styles, based on a four-stage acquisition rhythm. Kolb devised his Learning Styles Inventory ( LSI ) to mensurate an person ‘s comparative penchant for the four acquisition manners ( Swailes and Senior 1999 ; Kolb, Rubin and Osland 1995 ) .Fig. 2, Honey & A ; Mumford Learning StyleBeginning: hypertext transfer protocol: //www.nwlink.com/~donclark/hrd/styles/honey_mumford.htmlHoney & A ; Mumford utilize different nomenclatureMilitant for Concrete Experience Reflector for Brooding Observation Theorist for Abstract Conceptualization Pragmatist for Active ExperimentationFig. 1: Kolb ‘s Learning StyleBeginning: hypertext transfer protocol: //www.nwlink.com/~donclark/hrd/styles/kolb.htmlKolb ‘s Learning ProcedureLearning from: CE – Concrete Experience RO – Brooding Observation AO – Abstract Conceptualization AE – Active Experiment The consequence on the LSQ i.e. Reflector is in crisp contrast to the diagnosing on the Personal Style Inventory, Hogan and Champagne ( 1980 ) where my personality signature is ESTJ ( Extrovert, Senser, Thinker, Judger ) – the Stabiliser. The Personal Style Inventory, Hogan and Champagne ( 1980 ) works with four braces of personality dimensions: Introversion/Extraversion ; Intuition/Sensing ; Feeling/Thinking and Perceiving/Judging. These concepts are based on the original work of Carl Jung ( 1921 ) and are a discrepancy of Myers-Briggs Type Indicator ( in Myers and Mc Caulley, 1985 ) . Learners/managers with ESTJ personalities are thought to be more practical than believing unlike reflectors. However, there is a run of similarity every bit good. The Thinker in ESTJ is analytical, so is a Reflector Honey and Mumford ( 1992 ) idea of as. The Senser in ESTJ plants with ‘tedious item ‘ Hogan and Champagne ( 1980 ) so does the Reflector take every item into history before determinations. The Thinker in ESTJ has critical ability, the Reflector weighs pro ‘s and con ‘s. I view my calling as an chance to accomplish meaningful aims in a larger context. This scores high as a strength on Schein ‘s ( 2006 ) appraisal and identifies me as SV/Dedicated to Cause. The same appraisal shows my strong GM/General Management competency, wishing for AU/Autonomy and Independence, and a desire for SE/Security and Stability. The determination wholly correspond to Rowe ( 1987 ) Decision Style Inventory where I qualify as Directive. The best organisational tantrum for Rowe ‘s Directive type and Schein ‘s AU/Autonomy type is ‘structured, such as bureaucratisms, or where power and authorization are of import, ‘ notes Rowe ( 1987 ) . My learning manner is Tactile/Kinaesthetic harmonizing to Jester ‘s ( 2000 ) which seems linked to being Reflector, working with item. On Belbin ‘s ( 1981 ) I am an Implementer, Team-worker and Monitor/Evaluator. I am the Confronting Owl on the Conflict Questionnaire by Thomas & A ; Kilmann ( 2007, 1974 ) . Consistent with findings on the LSQ – Reflector, Implementers dislike unproved solutions or thoughts. Team Workers are risk-averse and work good with clearly defined ends like Reflectors. Team worker besides matches Owl the Confronter who seeks to decide differences until all stakeholders agree on a solution. Monitor/Evaluator are slow deciders like Reflectors and prefer to believe things through and see pro ‘s and con ‘s of sentiments and determinations. While Learning Manners are the â€Å" complex of characteristic cognitive, affectional, and physiological factors that serve as comparatively stable indexs of how a scholar perceives, interacts with, and responds to the acquisition environment. † Keefe ( 1979: 2 ) , what such an analysis may neglect to see is the context in which a learner/manager behaves in one or the other manner. An agreeable averment in this respect would be by Sadler-Smith ( 2001: 295 ) warning against the application of larning manner â€Å" in an indiscriminate manner. A necessary component of any statement that seeks to generalise is some comparing of the spheres which one seeks to generalise from and to. † Personally, I find â€Å" 11 Qualities of Effective Manager † Pedlar et Al ( 2006 ) and the Hogan and Champagne ( 1980 ) Personal Style Inventory others as both clearly indicate facets which are developed or are otherwise.Smart GoalsGet a calling occupation ( HR related )Get a occupation which facilitates personal development on strategic and decision-making and policy preparation accomplishmentsWork towards purpose: to be Director HR at a taking company like ReutersKeep in head: Learning and Development demands and better uponToolkit: Detailed PDPTable 3: Smart Goals3.1 Learning and Development NeedsDifferent larning manner appraisals helped border my apprehension of myself as a learner/manager. These exercisings have been exhaustively helpful in foregrounding my acquisition and development demands.REQUISITE LEARNING & A ; DEVELOPMENTDescriptionPrecedenceAcquire relevant professional cognition High – Immediate Proactive Attitude High Mental Agility High Time Management MediumTable 4: Learning and Development NeedsTheoretical background/academic apprehension, which will augment my professional competency, is what I am acute to work on and therefore hold enrolled myself on the class at Birkbeck. Successful directors must exhibit ‘career resiliency ‘ and should â€Å" take part in the direction of their callings by taking greater duty for their acquisition † Thomson et al. , 2001 Waterman et al. , 1994, as quoted in Martin and Butler, 2000. Absence of professional classs induces a sense of under-confidence and sometimes professional insecurity. The immediate negative consequence is that it makes my occupation really demanding and requires usage of creativeness. On the other manus nevertheless, I have thorough cognition sing my company and its countries of specialization. I have been actively involved in assorted undertakings, pulling up policies and processs, forming occupation carnivals, employer stigmatization, covering with ER issues, disciplinary, exit interviews, etc. The sense of under-confidence may good be a beginning of deficiency of pro-active attitude and mental legerity. Given the fact that on my occupation there are other co-workers with more makings and preparations under their belt, this may be keeping me back from being active and agile. I am reasonably good with Time Management. However, I do see the demand to be more effectual at this. Green and Skinner ( 2005 ) believe that pull offing clip has positive impact on calling and life.Proposed Learningâ€Å" Learning is perceived as a consequence from four chief sources/activities viz. ‘experience ‘ ( from mundane life and on-the-job ) , ‘training ‘ , ‘modelling others in the workplace ‘ and ‘coaching ‘ ( i.e. apprenticeship and being looked after ) † Antonacopoulou, ( 1999 ) . There is an discernible inter-dependence between the acquisition and development demands. This translates into a dependable PDP. As mentioned earlier, I will utilize the PDP to maintain a cheque on my advancement. This means that the PDP will be revised from time-to-time.Table 5: Personal Development PlanDecisionThis write-up critically reviewed consequences of assorted larning manners appraisals and derived a Personal Development Plan holding with the averment that persons are responsible for their calling development, non merely organisations CIPD ( 2010, 2003 ) . Under the undermentioned two sub-headings, I will transport out a larning reappraisal every bit good as give a self-reflective history.Learning ReviewAssorted appraisals have given me a clear image of what my larning precedences should be and that in order for this to be a learning exercising and experience that delivers, it is indispensable that my ends be interdependent every bit good as SMART. At present, figuratively talking, I am stat mis off from where I should be working i.e. my current occupation in a proficient section of a messenger company is no aid to my calling programs. However, I am now excess and this might be a approval in camouflage. I want to be in a HR occupation. This will assist me go on my journey towards my ends all the manner developing strategic decision-making accomplishments. Besides it will relieve the sense of professional in-security as I am seeking complimentary formal instruction. I see that this fright has done me harm in footings of decreased mental legerity and low degree of proactive attitude. I will maintain a cheque on my advancement through the PDP. All of the above is clip dependent. Green and Skinner ( 2005 ) put it as holding ‘positive impact ‘ and I will work towards accomplishing excellence in clip direction.Self-reflectionUnder larning reappraisal above, I have tried to reexamine my ends as set above to and turn out that they are inter-dependant. Further immediate betterment is direly needed in footings of theoretical constructs and formal specializer knowledge-base which will assist me derive more professional competency and encouragement assurance.

Cec trading ltd - Free Essay Example

Sample details Pages: 15 Words: 4373 Downloads: 6 Date added: 2017/06/26 Category Statistics Essay Did you like this example? 1.0 EXECUTIVE SUMMARY 1.1 Business Idea and Goals CEC Trading Ltd. is a Nano Energy Water Flask trading company in Miri, Sarawak. The products that we sell are water flasks that release charges to the water with high amount of negative ions, which is good for our body. Don’t waste time! Our writers will create an original "Cec trading ltd" essay for you Create order This company intends to be the best water flasks trader in Malaysia. It is because the water flasks that this company is selling are one of a kind. It also made up of good quality and the price is very affordable. Three elements that this company concentrates on in order to reach our goal are our customers, our supplier and our employees. The major shareholder of this company (Vivian Ngu) intended to initiate the business with more than 5 employees and sell approximately 10500 water flasks in the first year which will increase in rational amount in the following month. The company intends to generate at least MYR 294,000 in sales revenue and make MYR 65,200 profit in the end of its first year of trading. 1.2 Marketing The main targets of this business are customers; range from students to workers, most likely everyone. Our company has a warehouse for storing the water flasks and we had chosen a strategic place which is situated at Jalan Bintang, Shop Lot No. 68. On the other hand, our company is selling the Nano Energy water flasks in Parkson, which is located in a shopping mall named Bintang Plaza. The reason we chose Bintang Plaza as the main location for our business is because of the huge flow of customers who visit Bintang Plaza daily. 1.3 Products Nano Energy water flasks can release charges to the water with high amount of negative ions, which is good for our body. It can restore the waters PH level to the ideal level, which is 7.0 to 7.4. Thus, it will change the water to alkaline water which benefit to health. The Nanotechnology breaks down water molecule into smaller possible size so that they are more easily absorbed by the body. Therefore, the taste of the water is smoother, sweeter and easily absorbed by our body cell as osmosis may occur easily. Drinking energized water regularly also kept us away from suffering different kind of health diseases. Moreover, the energized water penetrates deep into the body cells more easily, transfers nutrients to the body more efficient and takes away un-useful product from our body system, thus making us strong and healthy. 1.4 Sales and Promotion Promotion of the business will take place using a variety of methods, including advertising through distributing flyers from school to school, making banner, emails and telephone ordering. We will pay a few workers to distribute flyers from one place to another place. For examples, Curtin University and always all the secondary school in Miri, Sibu and Kuching. 1.5 Finance CEC Trading is a self-funding company as the initial shareholdings of RM 8000 will be injected by the major shareholder of the company (Vivian Ngu), and RM 5000 by other shareholders (Damilola, Faiznur Dilan, Wong Wen Yi and Wong Soon Siong). The company estimating the business will always show a positive value of cash surplus in every month for the first year of the operation. The company will not apply for any form of loans from outside party including bank in the first year of the operation. 2.0 BACKGROUND 2.1 Mission Statement CEC Trading Ltd. is not only aim to be one of the well-known Nano Energy water flasks traders in Malaysia but also aim to be the best water flasks trader in Malaysia. We want our product which is the unique Nano Energy water flask known as the best water flask in Malaysia as it is a beneficial product and it is made up of good quality. As well as any other company, we also would like to gain profit as much as possible. In order to attain our missions, our company will focus to the followings: 1. The Product: Our good which is Nano Energy Water Flask is made with 304 stainless steel. There is a filter inside the water flask which will be builded up from 13 kinds of natural materials such as tourmaline, zeolites, manifanshi, nano silver powder, kaolin earth, rare earth, far infrared stone, muyu stone, clay and others. The combinations of different kind of natural resources are approved scientifically to give highest efficiency to the water. 2. The Employees: The employees will be trained to do their own role efficiently. They will also be motivated by attending program which then they will produce better performance. 3. The Consumers: We are targeting adult as well as children and ageing people to consume our products since our product is available to any age. We would like to make sure that our customer satisfied with their purchases of the Nano Energy water flasks. For the capital, the amount capital needed to start the business is RM28,000. The amount of capital stated is needed to cover up all of the essential expenses that the business required to set up the business. The sum of capital that stated above is also needed to achieve a positive cash surplus in the first month. 2.2 Company History This is a new business which all started from the observation that we, the shareholders made. We had a discussion and came up with an idea of selling water flasks. The water flasks that our company planning to sell are water flasks with special features and benefits, which are the Nano Energy water flasks. This water flasks release charges of negative ions to the water and it is good for our health. In addition, the reason we chose to sell Nano Energy water flasks is due to the high demand of health products which needs a huge amount of money. On the other hand, we can also save the environment by reducing the use of plastic water bottle. Thus, by combining both of these situations, this company is set up. Furthermore, customers will not have to spend lots of money for their health products; instead they can buy the Nano Energy water flasks which only cost them MYR 28. 2.3 Business Goals The short-term goal of this company is to employ at least 5 persons full time on a salary of approximately MYR 4,900 per month. Our company planned to run our business within Sarawak for a start. The Nano Energy water flasks will be distributed to a few parts of Sarawak which are Miri (the main place of our business), Sibu and also Kuching. Furthermore, our company targeted to sell about 10500 water flasks in a year, which would probably increasing in the following month and gain a net profit at least MYR 65,200 for future investments. For the long term goal, our company wanted to expand the company into a bigger company by selling the Nano Energy water flasks to West Malaysia and Sabah. This is because we want to widen our market range and we would like to gain more profit. In order to achieve our long- term goal, we will analyse our weaknesses and strive to improve our business strategies. 3.0 MARKET CEC company is a trading company that buy product from a manufacturer (whole sellers) then sell to retailers which is to the shop we decided to sell our products. Then we sell our product to consumers. The new product we are introducing into the market is a product from Vuitton Silver Manufacturing Company that sells different types of water flask in Malaysia such as Vacuum water flask and Nano Energy water flask. The product we are introducing is Nano Energy water flask which helps to charge water with high amount of negative ion which are absorb by the body. Due to the fact that more than half of our body consists of water, water is an important element which is needed by everyone. Thus it is important that we consume healthy water daily. Nano Energy water flask can change the water ph level to be alkaline. Other than that, it can also breaks down water molecule into smaller size which then can be easily consume and the taste will be sweet and smooth. Furthermore, alkaline water ca n build up better immune body system thus prevent us from easily infected by diseases. For further information, drinking this energized water often also enhance our bodys metabolism and can concern about our beauty. However, the most important key point in drinking this energized water is keep us away from all kind of diseases. Due to the fact that our warehouse is in the state of Miri, Sarawak, our product can be found in Parkson which is in Sibu, Miri and Kuching. This water flask can be use by children as well as adult. 3.1 Market Analysis Due to the research carried out by the CEC Company, we found out that there is a lot of water flask that were on the market, but their functions are only to keep warm or keep cold. Thus, our company decided to do trading on a new type of water flask, which is for consumers health purpose. Another thing that the business concern about is about environmental friendly. 3.2 Seasonality The major of our sales revenues are in February to November. This is because there are no long holidays or school holidays. Thus, the customers might saw the advertisement for our product and purchased them. In the other hand, due to the holiday season such as Celebration or summer break periods, the people might be going out for vacation thus will decrease our sales revenues. 3.3 Competitors There are lots of competitors in the market who have products that perform same function with our product Nano Energy water flask, some of the companies are listed below: I. ENCHANCE PLASTIC INDUSTRY SDN BHD, MALAYSIA II. TAIZHUU GANGLUNG PLASTIC CO.LTD III. KSK GLOBALINK MANUFACTURING SDN BHD IV. ELLEDI (M)SDN BHD V. ZHEJIANG TYSESO INDUSTRY TRADE CO.LTD. VI. YONGKANG SHIQIANG HARDWARE PLASTIC CO.LTD 3.4 Market Overview The major target market of CEC Company is student, workers, athletes and the public in general. Nano Energy water flask produces storages where you can store your water to drink anytime which is tasty. Our product is convenient, easy and collectable, it is also attractive to the eyes as it will be in three colors silver, red and black which makes the demand for the product higher because it is also affordable in terms of price. Other than that, we also provided telephone ordering for customers need. 3.5 SWOT Analysis We carried out an analysis on the market situation on our product with the use of SWOT analysis, which we make improvement in our business. SWOT Analysis represents the strength, weakness, opportunities and threats of the business. Through SWOT Analysis, it can guide the company to work on our weakness and threats where as maintain our performance regarding the strength and opportunities(citation business management). STRENGTH The strength is an initial factor which increases value for our business. The strength of nano energy water flask is to have been strong enough to get them a higher place in the labor market even with various imitations from other competitors who are in the market or wants to come into the market with similar products. It can be measured using internal assessment. Quality of the brand Strategic location Sustainability of the product Health care Light weigh of the product WEAKNESS Weakness is also an internal factor that decreases the value of the business. We need to analyze our company weaknesses so that we can make improvement based on them. Lack of marketing skill Lack of workers Limited budget Lack of advertisement Consistency of supplier OPPORTUNITIES Opportunities are external factors that add value in the business. The business needs strategies to perform better performance. Expose our products in other countries Special promotion during special events Improve the skills of workers THREATS Threats are the external factors that decrease the value in the business. The business need to be aware of the threats that may be occurred. Existence of substitute goods in the market Delayed of the products due to the transportation problems 3.6 MARKETING PLAN 3.6.1 Production/ Service Target Market The 2 main targets of doing this business are to improve the healthiness of consumers and to concern about the environment. Nano Energy water flask is a good product which helps to transform the water into alkaline water which is good for health. It is also convenient in the aspect of shape and size which makes it very easy to be carried around by anyone who needs a flask to store their water to take to either school or workplace and even to sport arenas. It is a stainless steel bottle which makes it more attractive and presentable. The fact that it is a stainless steel does not mean it going to get rust easily. On the other hand, since the product is made of stainless steel, it can be used for at least one year. Thus, we can be environmental friendly by saving the consumption of plastic water bottle. 3.6.2 Place Although the business is doing trading to Miri, Sibu and Kuching, our main business is in Miri. Nano Energy water flask is classified to be a household product, thus it can be found in Parkson, in the department where they sell household products. We also need a warehouse to store all our products. 3.6.3 Price Vuitton Silver Company supply Nano Energy water flask to the business with the cost of RM15 each. This cost will be derived after the deduction of all the money use in the production of the flask, such as buying of the machinery, steels, wages of employees, vehicle for distribution, insurance, rents and other expenses. After doing the analysis, our company tends to charge RM 28 for the product which can provide profits on every sales and this price can be afforded by customers. 3.6.4 Promotion and Advertisement Our company tends to alert the general public about nano energy water flask through various means in other for them to know about the product. A research was done on the strategies needed to promote the product in the market. As a result, we made use of the following promotional tools in the business. fliers and handbills posters and banners emails and telephone contact 3.7 Evaluation of Market CEC Company carried out an evaluation on the market, using the market strategy which is carried out at the end of every year to analyze the sales data of Nano Energy water flask to see it performances in the aspect of the quantity that has been sold and as well as profits made. Based on the cash flow forecast, we have cash surplus of RM 65,200 during the year. This proved that the promotions and sales have been done effectively. 4.0 OPERATIONS 4.1 Legal and Licensing Requirements (a) Business name and legal structure CEC Trading Ltd is a proprietary limited company. The company structure has already been registered and start up with five shareholders: Vivian Ngu Yen Shya (25% shareholding) Wong Wen Yi (18.75% shareholding) Faiznur Dilan binti David Ismadi (18.75% shareholding) Damilola (18.75% shareholding) Wong Soon Siong (18.75% shareholding) Who also serve as the directors of the entity. (b) Operating laws and licenses The business needed a license to run the business legally. 4.2 Management Details The managing director of the company will be: Vivian Ngu Yen Shya Home address: 175, Phase 2C1, Desa Senadin, 98000 Miri, Sarawak, Malaysia Ph: (085) 656578 Fax: (085) 656579 Date of birth: 25 November 1991 Qualifications: Bachelor of Business (Double Major in Finance and Management) Experience: Management and Financial Advisors and owner of Wealth Spring Consultancies 1997 2003 4.3 Organizational Structure and Staffing Most of the job of the business will mainly be done by general manager. A warehouse is needed to store our products. General manager, sales manager and accountant will mainly be working in the warehouse. On the other hand, 3 marketing expertise and 2 drivers are needed in doing sales and also deliverance. General manager The duty of a general manager are to manage all business plans and the performance of the employees. Salary : RM 1000 Sales manager * The duty of a sales manager is to deal and communicate with the owner of parkson in order to know the amount of sales revenue. * Salary : RM 700 Accountant * The duty of accountant is to record the business transactions, summarizing and analyzing to produce financial statement in the end of the period. * Salary : RM 700 Sales advisor * The duty of sales advisor is to approach customers and advise them to buy our product. * Salary : RM 500 Driver * The duty of driver is to deliver the products to the destination and also help to transfer the products to the sales department. * Salary : RM500 4.4 Professional Advisers Accountant Sunlight Accountants 55, Sunshine Park, Tun Hussein Onn Road, 98000 Miri, Sarawak, Malaysia Ph: (085) 668 132 Fax: (085) 668 133 Lawyer John Smith 28, Fortune Park, Desa Damai Road, 98000 Miri, Sarawak, Malaysia Ph: (085) 636 732 Fax: (085) 636 735 Insurance broker Bank account May Bank Malasyia 279, Bank Street, Pujut Road, 98000 Miri, Sarawak, Malaysia Manager: Angeline Tan Ph: (085) 678 588 Fax: (085) 678 579 4.5 Business Premises Location CEC Trading Ltd will acquire a business premise as an office which deals with the paperwork and also warehouse as the storage for stocks and equipments. The ideal location would be located at shop lot where we can store and sell the stock. The premise will be located at Shop Lot 608, Medan Commercial Centre, 98007 Miri, Sarawak, Malaysia. The price tag for renting the shop lot will be RM 1,500 per month. The shop lot will be repairing and do some painting. The goods that we sell will be distributed to the hypermarket, Parkson in Miri, Sibu and Kuching. 4.6 Equipments Required The equipments that required for the business will be: Computers Printers Scanners Internet connections Fax machines Telephones Furniture (table, chair, shelves) The above equipments are some of the basic needs to run the daily business operation. The equipments required will change from time to time. 4.7 Production Processes Our company will get the stock from the supplier, Vuitton Silver. The estimated amount around 1000 of Nano Energy water flasks will be order from the supplier every month. Therefore, all the stocks will be store in the warehouse. Then, the workers will distribute some of the stock to Parkson. The working hour is from 8am to 5pm every day except on public holidays. There are different types of color of the water flask will be sold such as silver, black and red. The product will be sold at RM28 each for every types of color. The selling price is enough to cover all the expenses as the cost price of each water flask is RM 12. It is a reasonable price as these Nano Energy water flask is good for health and can solve the skin problems. However, the office is used as a place for the process of paperwork and storage of documents and equipments. The ordering of our company products and all the documents and accounts will be recorded down and will be kept. All the works in the office work will be done by the clerk and supervise by the manager. 4.8 Critical risks/Contingency Plans CEC Trading Ltd will organize training program to all staff members for professionalism in running the business and also for contingency plans. The training will be on how they going to promote and sell the water flask. Insurance will be bought for business premises. The aim is to recover some assets in case of any accidents such as fires, accidents and thefts as well. Those liability and car accident will be covered by the professional indemnity insurance. The injury to the managing director will be covered by workers compensation. 5.0 FINANCIAL PROJECTIONS 5.1 Basic Assumptions and Information (a) Calculation of income and expenses Expenses are calculated based on research and managements knowledge of costs. Income or sales revenue is assumed to be paid within the month issued. The impact of inflation or increases costs is not taking into consideration. Depreciation of equipments purchased and vehicle purchased in June 2010 is calculated using straight-line method, at 10% per annum. Gross cost of goods is RM 168,000. Drawing is RM 200 per month. The projection is for one year and the figures are in Ringgit Malaysia. (b) Financing of the business An investment of RM 28,000 will be invested into the business according to our shareholdings Vivian Ngu Yen Shya RM 8,000, Wong Soon Siong RM 5,000, Wong Wen Yi RM 5,000, Faiznur Dilan binti David Ismadi RM 5,000 and Damilola RM 5,000. Sales income for June is based on early promotions, thus providing initial cash surplus and avoid the need for any short term debt financing. The operation financing strategy is showing a cash surplus in the bank accounts with total amounts of RM 70,700. The business will open a cheque account that provides electronic funds transfer facilities for customers. A minimum of two shareholder directors is needed to sign all the cheques for security reasons. (c) Distribution of profits Profits in the first year will be retained in the business. In future years, three quarters of the annual net profit after tax will be paid to the directors at the end of the financial year according to their shareholding and the remaining quarter will be kept as retained earnings. The Sales Mix Forecast, Cash Flow Forecast and The Trading Profit and Loss Statement is prepared according to generally acceptable accounting principles and conventions. (d) Goods and services tax All forecasts are net of tax. (e) Loans The firm has no current loans or debts. 5.2 Analysis of Financial Forecasts (a) Net profit margin is used to measure the companys ability to earn a net income from sales. The net profit margin is calculated based on the first year of the projections. Net profit margin % = = = 22.18% Since this trading company is running the business for the first year, it is normal to get a relatively low figures of the margin. The margin is expected to increase in the next few years. Other than that, the company can use other ratios to do analysis on the financial statements in the coming years. (b) Break-even point Contribution margin is used to determine the amount of profit that is made towards payment of the fixed cost. Considered that cost of goods sold is the variable cost, the contribution margin is equal to sales minus variable costs. Gross profit margin = = = 57.14% The fixed cost is projected to be RM 102,800. Break-even point in value = == RM 180, 350.88 Accounting 062 May 28, 2010 5.2.1 Sales mix forecast CEC SALES MIX FORECAST for the period June 2010 to May 2011 June July August Sept. Oct. Nov. Dec. Jan. Feb. March April May TOTAL Item: Water Flask Number sold 450 700 800 800 800 600 700 1,000 1,100 1,150 1,150 1,250 RM 10,500 Selling price per unit RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 RM 28 Total sales income 12,600 19,600 22,400 22,400 22,400 16,800 19,600 28,000 30,800 32,200 32,200 35,000 RM 294,000 Cost of goods sold per unit RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 RM 12 Total cost of goods sold 5,400 8,400 9,600 9,600 9,600 7,200 8,400 12,000 13,200 13,800 13,800 15,000 RM 126,000 5.2.2 Cash flow forecast CEC CASH FLOW FORECAST for the period July 2010 to June 2011 June July August Sept. Oct. Nov. Dec. Jan. Feb. March April May TOTAL Income Sales revenue RM 12,600 RM 19,600 RM 22,400 RM 22,400 RM 22,400 RM 16,800 RM 19,600 RM 28,000 RM 30,800 RM 32,200 RM 32,200 RM 35,000 RM 294,000 Capital 28,000 28,000 Total income 40,600 19,600 22,400 22,400 22,400 16,800 19,600 28,000 30,800 32,200 32,200 35,000 RM322,000 Expenses Cost of goods sold 5,400 8,400 9,600 9,600 9,600 7,200 8,400 12,000 13,200 13,800 13,800 15,000 126,000 Accounting/ legal services 1,000 400 1,400 Advertising 1,000 50 50 50 50 50 50 300 50 50 50 50 1,800 Bank fees 15 15 15 15 15 15 15 15 15 15 15 15 180 Equipment purchases 2,000 2,000 Insurance 2,400 2,400 Motor vehicle 12,000 12,000 Motor vehicle fuel 500 500 500 500 500 500 500 500 500 500 500 500 6,000 Petty cash 50 50 50 50 50 50 50 50 50 50 50 50 600 Postage, printing stationery 200 200 200 200 200 200 200 200 200 200 200 200 2,400 Rent 2400 2400 2400 2400 2400 2400 2400 2400 2400 2400 2400 2400 28,800 Water and electricity 150 150 150 150 150 150 150 150 150 150 150 150 1,800 Repairs and maintenance 2,000 700 700 3,400 Staff wages 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 58,800 Telephone 110 110 110 110 110 110 110 110 110 110 110 110 1,320 Other 200 200 200 200 200 200 200 200 200 200 200 200 2,400 Total expenses 34,325 16,975 18,175 18,175 18,875 15,775 16,975 21,225 21,775 22,375 23,075 23,575 251,300 Cash surplus/(deficit) 6,275 2,625 4,225 4,225 3,525 1,025 2,625 6,775 9,025 9,825 9,125 11,425 70,700 Bank balance Start of month 0 6,275 8,900 13,125 17,350 20,875 21,900 24,525 31,300 40,325 50,150 59,275 End of month 6,275 8,900 13,125 17,350 20,875 21,900 24,525 31,300 40,325 50,150 59,275 70,700 Page 27 Accounting 062 May 28, 2010 5.2.3 Projected profit and loss statement CEC PROJECTED TRADING PROFIT AND LOSS STATEMENT for the period June 2010 to May 2011 Revenues Sales revenue RM 294,000 Less: Cost of goods sold 126,000 Gross profit RM 168,000 Expenses Accounting/legal services 1,400 Advertising 1,800 Bank fees 180 Insurance 2,400 Motor vehicle fuel 6,000 Postage, printing stationery 2,400 Rent 10,800 Water and electricity 1,800 Repairs and maintenance 3,400 Staff wages 58,800 Telephone 1,320 Other 2,400 Depreciation of equipments 500 Depreciation of motor vehicle 1,200 Total expenses RM 102,800 Net profit RM 65,200 Accounting 062 May 28, 2010 Report on Minutes Minutes of Meeting of CEC Trading Ltd held on 7th April 2010 at 1330 hours. Present: Vivian Ngu Yen Shya Faiznur Dilan Wong Wen Yi Wong Soon Siong Damilola. Absent: None Secretary: Faiznur Dilan Location : Library 1. It is resolved that Vivian Ngu be appointed team leader. 2. It is decided that our business should be a trading business. 3. The name of our business should be CEC, which stands for convenience, easy and collectable. 4. The product that we had agreed on is Nano Energy water flask. The next meeting is decided to be held on 14th April 2010. Minutes of second meeting of CEC Trading Ltd held on 14th April 2010 at 1415 hours. Present: Vivian Ngu as chairman Faiznur Dilan as secretary Wong Wen Yi as committee Wong Soon Siong as committee Damilola as committee Absent: None. Secretary: Faiznur Dilan Location : Library The discussion during the meeting: Tasks Done by 1. Dividing on the tasks to play by every members Vivian Ngu , Faiznur Dilan, Wong Wen Yi, Wong Soon Siong, Damilola 2. Design logo of CEC Company. Wong Soon Siong 3. Deciding the cost of the water flask and the expenses. Vivian Ngu, Wong Wen Yi 4. Deciding the special features about the water flask. Damilola, Faiznur Dilan The next meeting will be held on 21st April 2010. Signed by:___________________ Minutes of Meeting of CEC Trading Ltd held on 21st April 2010 at 1200 hours. Present: Vivian Ngu as chairman Faiznur Dilan as secretary Wong Wen Yi as committee Damilola as committee Wong Soon Siong as committee Absent: None. Secretary: Faiznur Dilan Location: Library The discussion during the meeting: Tasks Done by 1. Business and marketing plan Damilola, Faiznur Dilan 2. Operation Wong Wen Yi, Wong Soon Siong 3. Sales and promotion Damilola,Vivian Ngu 4. Financial projection Vivian Ngu The next meeting is decided to be held on 5th May 2010. Signed by:___________________ Minutes of Meeting of CEC Trading Ltd held on 5th May 2010 at 1400 hours. Present: Vivian Ngu as chairman Faiznur Dilan as secretary Wong Wen Yi as committee Damilola as committee Wong Soon Siong as committee Absent: None. Secretary: Faiznur Dilan The discussion during the meeting: 1. Combined and finalized every section that had been divided to each member. 2. Edit some of the information in several sections and some additional information is added. 3. Discuss about which part should be focused on, in the presentation slides. 4. Preparing the slides by every member. Reference Lists