10 Interesting Facts About Carnivores

How do corporate governance mechanisms influence firm performances - Free Essay Example

Sample details Pages: 6 Words: 1900 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Corporate governance has become a major topic of debate and policy development in the worlds of business, politics, and academia, in the UK and throughout the world. These debates and policy outcomes have important implications not only for business, but the wider economy and society. Recent events of the financial crisis exposed material shortcomings in the governance and risk management of firms, particularly within the financial sector Led to the development of Walker Review provides the basis for the analysis. Don’t waste time! Our writers will create an original "How do corporate governance mechanisms influence firm performances" essay for you Create order Critical Areas of Corporate Governance Role of Board of Directors Compensation issues Monitoring by outside majority shareholders All above are solutions that help to mitigate conflicts of interests see agency costs. Key Literature: Public Policy In order to improve corporate governance practices and the efficiency of corporate governance mechanisms, a number of initiatives have been developed in recent years to enhance the transparency and quality of corporate financial and non-financial disclosure, to increase levels of shareholder engagement, to improve the effectiveness and accountability of boardrooms, and to foster a long-term investment culture. Outline developments of codes e.g. Cadbury Code, Walker Review etc The academic literature suggests that information flows are a fundamental prerequisite, cornerstone, or driver of corporate governance and that in turn the informational environment of the firm affects strategy and performance. The starting point for most analysis is that information asymmetry (Akerlof 1980) is pervasive in firms and has negative effects in terms of uncertainty, adverse selection, moral hazard, and opportunism. In turn, this leads to higher transaction costs, the false pricing of asset s, the misallocation of resources, and lower liquidity. Because of market failures and fears of competitive disadvantage, the state has intervened with laws to make firms disclose. Agency Conflicts Perhaps not surprisingly, no universally accepted consensus exists as to what good corporate governance means. The economics and finance literature is focused on the problems of agency relations between shareholders and managers which result from the separation of ownership and control, particularly in large corporations. Information asymmetry Akerlof (1980) Berle-Means (1932) paradigm. Board of Directors Agency theory: This stream of research identifies situations in which shareholders and managers goals are likely to diverge and examines mechanisms that can mitigate managers self-serving behaviour (Shleifer and Vishny 1997). Boards of directors described as the apex of the internal control system (Jensen 1993: 862) Boards core function as a monitoring and control mechanism, A review of corporate governance literature reveals that a conflict of goals between a firms CEO and its shareholders typically revolves around three main underlying issues: CEO compensation, risk to the firm, and corporate control. Board Composition and performance Agency theory which addresses inefficiencies that arise from the separation of ownership and control (Fama 1980; Fama and Jensen 1983;Jensen and Meckling 1976) High engangement in Board processes Board Independence From the agency theory perspective, boards of directors (and particularly independent or outside members) are put in place to monitor managers on behalf of shareholders (Lynall et al. 2003) Consistent with agency theory, a board comprised of independent directors (e.g., board members who are not dependent on the current CEO or organisation) is more likely to provide an effective oversight of the firms CEO and other executive directors. Independent directors are generally believed to be more effective in protecting shareholders interests, resulting in higher firm performance (Baysinger and Butler 1985; Baysinger and Hoskisson 1990). Separate CEO and Chairman Many researchers believe that the dual board leadership structure seriously compromises the independence of the board. The tenets of agency theory would suggest that such centralised leadership authority will lead to management domination of the board and result in poor performance (Fama 1980; Fama and Jensen 1983; Lorsh and MacIver1989; Molz 1988; Shleifer and Vishny 1997). Education/experience More recent resource-d ependence, behavioural and socio-cognitive views on corporate boards have extended agency research by suggesting that pro-active behaviour by non-executive directors depends not only on the extent of board independence, but also on the strategic perspective and base of experience they bring to the organisation. (Carpenter 2002; Carpenter and Westphal 2001) In addition to control functions, the board may also play service and strategic roles in the decision making process (Pfeffer 1972; Pfeffer and Salancik 1978; Provan 1980), Pye (2001) suggests that in order to add value to the board, non-executive directors are expected to bring a background of executive experience of running other firms. Boards that are composed of lawyers, financial representatives, top management of other firms, public affairs specialists, etc. may be more effective in terms of bringing important expertise, experience and skills to facilitate advice and counsel. This research emphasises that board s tructural characteristics (e.g., the proportion of independent directors, separate CEO and Chairperson) are less relevant compared to the quality of the boards cumulative human capital. A number of studies argue that board diversity in terms of directors professional experiences should lead to more efficient service/expertise/counsel roles of the board and, as a result, to better performance (Carpenter 2002; Baysinger and Butler 1985; Baysinger and Hoskisson 1990; Kaplan and Reishus 1990; Wagner et al. 1998; Westphal 1999). Board Size Walker Review Bank board sizes have risen disproportionately in recent years. In achieving the desired balance between expertise and independence, the board size should not be obliged to expand when the recruitment of financial industry expertise is deemed not to be independent. Contrasting views Larger boards will be associated with higher levels of firm performance (Dalton et al. 1999; Pfeffer 1972; Pfeffer and Salancik 1978; Provan 1 980). Daily et al.(2002), and Daily and Dalton (1992; 1994) find positive effect of board size on financial performance in large samples of firms in the USA. Golden Zajac (2001) and Andres Vallelado (2008) find a non-linear (inverted U-shape) relationship between board size and firm performance. However, agency researchers are more sceptical about the effects of board size on the monitoring capacity of independent directors (Jensen 1993). When boards become too big, agency problems (such as director free-riding) increase within the board, and it becomes more symbolic and less part of the management process (Hermalin and Weisbach 2003). Yermack (1996) reports that there is a significant negative relationship between board size and Tobins Q. Judge and Zeithaml (1992) report that large boards are less likely to be involved in strategic decision making, a finding also supported by Goodstain and Boeker (1991). Thus organisational outcomes of board size remain an empirica l issue. Tenure (Directors Contract length) Age Boeker (1992), Pfeffer (1983) and Finkelstein and Hambrick (1996) argue that greater tenure of board members is associated with greater rigidity, increased commitment to established practices and procedures, and increased insulation towards new ideas. However, Hambrick and Mason (1984) and Hambrick and DAveni (1992) suggest that longer tenure provides directors with much more comprehensive access to a richer stock of remembered information, relative to what novice can access. Golden and Zajac (2001) in their study of strategic change in U.S. hospital find a curvilinear relationship between the average tenure and strategic restructuring: as average board member tenure increases, its effect on strategic change is positive for boards with lower levels of tenure, and negative for boards with higher levels of tenure. Generally, existing research considers board diversity and limits on board members tenure and age as good corporate governance drivers. Share Ownership institutional investors A large number of studies grounded in agency theory suggest that large-block shareholders have both the incentive and influence to assure that managers and directors operate in the interests of shareholders (Daily et al. 2003). Therefore, their presence among the firms investors provides an important driver of good corporate governance that should lead to efficiency gains and improvement in performance Hoskisson et al. (1994) show that large block shareholders help mitigate against poor strategy, such as diversification, to evolve into poor performance, therefore decreasing the magnitude of restructuring. Hill and Snell (1988) find that ownership concentration is positively correlated with RD expenditures, specialization and relatedness in a sample of 94 firms in research intensive industries. Some researchers have indicated, however, that concentrated shareholding may create a tradeoff between incentives an d entrenchment (La Porta et al. 2000a; Short 1994). In particular, lack of diversification and limited liquidity mean that large shareholders are affected adversely by the companys idiosyncratic risk (Maug 1998). To compensate for this risk they may use an opportunity to collude with managers or shift wealth from minority shareholders to themselves. For example, Pound (1988) argues that large institutional investors and unaffiliated blockholders are likely to side with management (the strategic-alignment hypothesis). Likewise, blockholders may be influenced by other existing business relationships with management (the conflict-of-interest hypothesis) Ownership concentration per se may negatively affect the value of the firm when majority shareholders have a possibility to abuse their position of dominant control at expense of minority shareholders (Bebchuk 1994; Stiglitz 1985). Remuneration Executive Pay Particularly interesting in light of recent financial crisis This section is concerned with the impact that corporate governance initiatives have had on the remuneration of UK executives. Over the late 1980s and early 1990s, the levels of executive pay were felt by many to increase dramatically and unjustifiably (Smith and Szymanski 1995). Whilst the Cadbury Report (1992) made several recommendations on good practice, the general opinion was that it did not go far enough with regards to executive pay. The implementation of incentive schemes to promote shareholder value is underpinned by agency theory. Classic agency theory shows a relationship where the owners (principals) of companies, namely the shareholders, delegate the management of the company to hired persons (agents) (Jensen and Meckling 1976; Fama 1980). These agents take the form of management and in particular the higher echelons of company management, i.e. the board of directors. The separation of ownership from c ontrol leads to information asymmetries, and leaves room for self-serving opportunist behaviour by the agent (Berle and Means 1932). Within the agency theory literature, executive pay is a key mechanism for helping to minimize agency costs in order to align the incentives of managers with the interests of shareholders. (Eisenhardt 1989). In response to this and in order to recruit and retain competent executives, companies within the UK design compensation strategies to incorporate long-term incentives (Conyon et al. 2000b; Conyon 2000). These compensation strategies involve the use of two main types of incentives, namely the executive share option scheme (ESOS) and the long-term incentive plan (LTIP). The Combined Code (2003, p 12) states that: A significant proportion of executive directors pay should be structured so as to link rewards to corporate and individual performance. Lack of disclosure Financial Sector Distinguish financial sector from general firms Capital structure Banks hold illiquid assets and issue liquid liabilities thus create liquidity for the economy. Dependent Variable: Tobins Q (proxy for firm performance) Independent Variables: Board Size Board structure/composition % of independent directors Board efficiency Separation of CEO and Chairman Level of education of non-executive directors proxy for monitoring quality of board members Share ownership Remuneration stock options Risk stock price volatility Regulation financial audit Hypothesis Board size has an impact upon firm performance? Time Period Comparison sample, in order to incorporate financial crisis into empirical research Is failure in corporate governance really to blame for financial crisis 2006 Evidence of corporate governance 2007/2008 Firm Performance Lagged effect reduces problem of two way causality Regression Analysis Will regression show that corporate governance mechanisms implemented in 2006 positively/negatively affect firm performance in 2007/08? Cross-sectional regressions for UK financial sector company performance from July 2007 to December 2008 corporate governance mechanisms measured at the end of fiscal year 2006 A cross-sectional regression is a type of regression model in which the explained and explanatory variables are associated with one period or point in time.

Computer Free Essays

Remote access domain can be assessed by requiring two credentials from the three something you are, something you have and something you know. This can impact the data stored on the network as well as the network itself. System and application domains can be assessed by removing unneeded software and patching regularly, this can impact issues with the software and unnecessary programs and usage. We will write a custom essay sample on Computer or any similar topic only for you Order Now Executive management should review and consider the following issued within the domains. We can manage and mitigate these common risks with these practices. Failure to address these issues could result in data loss, outwork downtime and many more big issues. Our systems security should be a priority and these are the issues that need to be addressed. 1 . The aim of the risk assessment process is to remove a hazard or reduce the level Of its risk by adding precautions or control measures, as necessary. By doing so, you have created a safer and healthier workplace. 2. A qualitative assessment is based on opinion than actual fact, and IT risk assessments need to be based on a quantitative analysis. 3. The critical needs to be mitigated immediately. 4. By assessing how important the risk is to the infrastructure and how quickly the risk needs to be mitigated. The one’s and two’s need to be mitigated as soon as possible and the threes can be mitigated or left alone at management’s decision. 5. -Restrict user access and set it up that a user has to get authorization for downloads. -Update software. -Increase WALL security using WPAD and AES encryption. -Strengthen firewall. -Strengthen firewall security; install PIPS and IDS systems to the infrastructure. -Make sure that the VPN is in place and secure. -Remove server, restore database from backup, and remove corruption from system. How to cite Computer, Papers Computer Free Essays When your hard drive crashes from any of the correct selections in the question above, or from dropping It, it is known as head-to-disk interference, or HDL What tool s used to test serial and parallel ports? ESD would cause the most damage to which component? What voltage does a Pentium system use? How long Is an IPv6 address? What flavor of Network Address Translation can be used to have one IP address allow many users to connect to the global Internet? Which protocol does DHCP use at the Transport layer? Where is a hub specified in the OSI model? What layer In the TCP/IP stack Is equivalent to the Transport layer of the OSI model? You want to Implement a mechanism that automates the IP configuration, Including IP address, subnet mask. default gateway, and DNS information. Which protocol will ou use to accomplish this? Which of the following is private IP address? Which layer 4 protocol is used for a Telnet connection? What protocol is used to find the hardware address of a local device? Which of the following protocols uses both TCP and UDP? A numeric error code check A 17xx Indicates a problem with: Which provides the fastest access to large video files? You were installing an application in Windows 95, and the computer crashes, what do you do? RS-232 is a standard that applies to:: You Just installed a new IDE hard drive, but your system BIOS will not recognize the new drive, what should you check first. We will write a custom essay sample on Computer or any similar topic only for you Order Now During boot-up, the memory test: What is the first thing you could do to check for damage to a printer after receiving it? You have a system that periodically locks up. You have ruled out software, and now suspect that it is hardware. What should you do first that could help you narrow it down to the component at fault? What tool is used to test serial and parallel ports? You have 10 users plugged into a hub running 10Mbps half-duplex. There is a server connected to the switch running 10Mbps half-duplex as well. How much bandwidth does each host have to the server? Which of the following is the valid host range for he subnet on which the IP Which protocol is used to send a destination network unknown message back to originating hosts? How to cite Computer, Papers Computer Free Essays Do you think this event was caused by an insider or outsider? Why do you t hint this? A An insider could have been included, tragically, but unintentionally, by joining g an individual USB streak removable commute to the workplace machine to the manager, w as contaminated somewhere else with an infection or worm. Be that as it may, all the more that n likely the guilty party was a pariah in light of the fact that it was expressed in account that the issues started when the clients clicked their email connections. Also most messages regularly origin neat from the outside. We will write a custom essay sample on Computer or any similar topic only for you Order Now 2. Other than installing virus and worm control software, what can SSL do to p repaper for the next incident? A. They thought to introduce an understanding firewall into their framework KS. Really they should have had one effectively, overall this issue would not have happened. Be that as it may I guess they don ‘t have a strong security arrangement set up. Likewise, the way that they were putting in new infection programming lets me know that they either had a SSH baby one introduced before or that they never had one in any case. 3. Do you think this attack was the result of a virus or a worm? Why do you HTH ink this? A. Lat would need to be both. An infection can demolish your machine framework ark and a worm is used to spread it. How to cite Computer, Papers Computer Free Essays A hardware is something we can see and touch in a computer. What is a software? – A software is something we can see but cannot touch, it is usually stored in a computer system. Some of the examples of hardware are: – Mouse – Keyboard – Monitor – CPU -Speaker – Printer Scanner – Trackball – Joystick Some of the examples of software are: – Microsoft Words – Internet Explorer As of the moment, many trends come out in the business world to make human tasks more fast and easy. We will write a custom essay sample on Computer or any similar topic only for you Order Now Information Technology plays a vital role in this part thus asking all necessary tasks more accurate and less time consuming. Nowadays, Information Technology holds a really Important role In our everyday life. Little things needed the work of IT to be completed. This chapter explains the wholeness of the project where in it explain the background of the company and the project. What is a hardware? – A hardware is something we can see and touch in a computer. What Is a software? – A software Is something we can see but cannot touch, It Is usually stored in a – Scanner Nowadays, Information Technology holds a really important role in our everyday life. How to cite Computer, Papers

Mcafee Case Study Essay Example

Mcafee Case Study Essay McAfee Case Study I. Current Situation A. Current Performance McAfee is in good financial standing. * In 2004, paid down $347 million in convertible debt and repurchased $220 million in common stock. * Revenue has declined over past two years but net income has increased. * Ongoing operations generated over $350 million in cash, with the fiscal year ending in $1 billion in cash, cash equivalents, and investments. * Deferred revenue increased for the period by $220 million. B. Strategic Posture 1. Mission: a. To secure consumers and businesses from the desktop to the core of the network by delivering best-of-breed products and services that protect †¦ global customer’s information technology systems and infrastructure. † 2. Objectives: More of a goal â€Å"become worldwide leader in intrusion prevention and risk management solutions and services. † II. Corporate Governance C. Board of Directors 3. George Samenuk (internal) b. Received formal education at Brown University, Political Science. c. Held various senior management positions at IBM. d. Former CEO and President of TradeOut Inc, a privately held online exchange. . Leslie G. Denend (internal) e. Holds multiple Ph. D. s from Stanford University, Economics, Public Policy, and Business. f. Joined McAfee after merger with Network General Corp. , whom she was CEO and President. 5. Robert Pangia (external) g. Received formal education from Brown University and Columbia University, Business. h. Held numerous senior management positions with Paine Weber Inc. which is a wealth management service provider. i. 1997 to 2003 worked as a private merchant banker. We will write a custom essay sample on Mcafee Case Study specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mcafee Case Study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mcafee Case Study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer 6. Robert B. Bucknam (external) j. Received formal education at Georgetown University with a Juris Doctoral in Foreign Service. . A senior vice president of Cross Match Technologies Inc. , a fingerprint identification provider. l. Served in many government positions including the Federal Bureau of Investigations, Chief of Staff and the U. S. Department of Justice, Deputy Attorney General. 7. Liane Wilson (external) m. She does not have a college degree. n. Runs her own consulting firm after retiring from Washington Mutual as senior vice president of information technologies. 8. Robert Dutkowsky (external) o. Received formal education from Cornell University, Industrial Engineering and Industrial Relations. p. Serves as CEO and President of Engenera Inc and previously held the same title at J. D. Edwards and Company. q. He has also held other various senior Management positions with other IT firms. 9. Denis J. O’Leary (external) r. Received formal education from the University of Rochester, Economics and New York University, MBA. s. Worked for J. P. Morgan up until 2003, during his 25 years he held various senior management positions including Chief Information Officer. t. After leaving J. P. Morgan he became a private investor. D. Top Management 10. George Samenuk u. Chief Executive Officer and Chairman of the Board, since 2001. . Former CEO and President of TradeOut Inc. 11. Gene Hodges w. President, since 2001. Joined McAfee in 1995. x. Held various executive positions within McAfee. 12. Kent H. Roberts y. Executive Vice President, Secretary and General Counsel, since 2001. z. Held various legal positions prior to this position. 13. Kevin Weiss {. Executive Vice President of Worl dwide Sales, since 2002. |. Formerly Senior VP for Ariba Inc. 14. Eric F. Brown }. Chief Financial Officer and Executive Vice President, since 2005. ~. Previously CFO for MicroStrategy Inc. III. External Environment: Opportunities and Threats E. Societal Environment 15. Economic . Early part of the 21st century had a decrease in IT spending. (T) ?. IDC predicted a growth of 16. 9% annually between 2003 and 2008 in the security software market. (O) ?. There has been a steady growth of average 22% in e-commerce retail sales in the U. S. (O) 16. Technological ?. Newly developed viruses, spyware, and worms affect how well they can manage their securities (T) ?. Outsourcing bulk of new software development. (O) ?. Increased use of broadband and DSL speed internet, growing from 9. million users to 22. 7 million users. (O) ?. McAfee holds a 19% market share among the computer protection companies. (O) (Exhibit A) 17. Political-Legal ?. Potential losses that results in shareholders law suits against company. (T) ?. SEC made NAI re-state earnings because of compliance issues. (T) 18. Sociocultural ?. Accommodating to the aging society. The older population needs a product they can depend on, that is easy to understand and easy to use. (O) ?. Society is transitioning into a wireless more mobile society. McAfee has to be aware of this and develop a product that will protect PDA’s, wireless laptops and mobile phones. (O) F. Task Environment Strategic type = prospector, focused on product innovation and market opportunities 1. McAfee should look to expand its mobile and wireless solutions. (O) 2. Collaboration with VeriFone Holdings, Inc. allows McAfee to be first to market with virus protection for point-of-sale terminals. (O) 3. Promote being recipients of the KM Reality Award, demonstrated leadership in the implementation of knowledge management practices and processes by realizing measurable business benefits. O) 4. There are many substitute products offered by competitors. (T) 5. High rivalry exists between firms like Symantec, Computer Assoc. , Trend Micro, and Panda. (T) 6. McAfee faces overseas competition. (T) 7. Symantec Products: Norton AntiVirus, Norton Utilities, Symantec AntiVirus. (T) 8. Microsoft switching to Trend Micro for use on all hotmail accounts. (T) 9. Mi crosoft’s entrance, acquiring GIANT Company Software, Inc. and distributing free anti-spyware software. (T) G. Summary of External Factors 19. External Factor Analysis Summary Matrix (Exhibit B). IV. Internal Environment: Strengths and Weaknesses H. Corporate Structure 20. Functional Structure: Worldwide Sales, Consumer, Mobile, and Small Business, Corporate Strategy and Business Development, Operations and Finance, human Resources, Risk and Compliance, Worldwide Technical Support and Customer Service, and etc, each have its own Executive or Senior Vice President who report to the President. (S) 21. Chief Executive Officer is also Chairman of the Board. (W) 22. Members of board and management are diverse throughout different business areas. Not just technology focus. (S) I. Corporate Culture 23. Implemented an â€Å"Ethics First† program, which is essential for any technical company. (S) 24. Ranked in top 10 for a computer software company between 2000 and 2005. (S) 25. Among Computer protection providers only hold a 15% market share. (W) J. Corporate Resources 26. Marketing * Two categories of products: McAfee System Protection Solution (desktops and servers) amp; McAfee Network Protection Solutions (corporate networks) * Types of products: anti-virus, anti-hacker and anti-spyware, anti-spam, anti-abuse, mobile and wireless, and bundled. Customer base- businesses, governments, and consumers. a. Product licensing. (S) * Products are priced and sold on subscription basis Single user, 1yr license (home internet security suite) = $69. 99 (before mail-in rebate). * Three user, 1 year license (home internet security suite) = $129. 99. * Small businesses are priced depending on size of the organization and length of license. b. Products are distributed throughout North America, Europe, the Middle East, Africa, Japan, and Latin America. (S) c. McAfee Foundstone Enterprise 4. 0 is the leading provider of intrusion prevention solutions (IPS). S) d. Partnered with Dell to develop the McAfee SecurityCenter bundle (includes McAfee Personal Firewall Plus, McAfee Privacy Service and McAfee SpamKiller). (S) e. AOL began its partnership with McAfee in April of 2003 (reported blocking over a billion virus infected emails in thirteen months time). (S) 27. Finance ?. In 2003, NAI was required by the Securities and Exchange Commission to re-state it earnings for 1998, 1999 and 2000. NAI denied any wrongdoing, but agreed to reissue the revised statements after discussions with SEC officials. The investigation dealt with the manner in which NAI reported revenue from sales by its distributors. (W) ?. In a post-Enron business environment, such investigations and the subsequent recalculations of financial statements can have a negative impact on a company’s value of its stock and efforts to obtain capital investment for future expansion. (W) ?. In 2002 and 2003, although revenues had decreased, NAI continued to invest in new technologies, spending $220 million to acquire IntruVert Networks, Inc. , and Entercept Security Technologies, both of which make intrusion-prevention products. S) ?. In 2004, NAI changed its name to McAfee, paid down $347 million in debt, and re-purchased $220 million in common stock in an effort to re-structure its capitalization strategy and achieve a goal of a 25% operating margin. (S) ?. With nearly $350 million generated from ongoing operations, McAfee ended 2004 with nearly $1 billion in cash, cash equivalents, and investments. McAfee plans to use this cash to purchase additional security products. Additionally, the company plans to sell its unprofitable Sniffer network to Silver Lake Partners and Texas Pacific Group. S) ?. Additional Information (Exhibit C thru E). 28. Research and Development ?. Increasing technology resources through company acquisitions (S) ?. Continues to raise the bar in product innovation and industry leadership with astounding intrusion protection and security solutions (S) ?. Products are developed to be proactive to limit risk of intrusion during times of increased threat levels (S) ?. Lacking a competitive advantage in the anti-virus product line. (W) ?. All McAfee security products are backed by the research organization McAfee AVERT (Anti-Virus Emergency Response Team) (S) ?. McAfee’s AVERT provides cures for most important outbreaks (S) 29. Operations and Logistics ?. Majority of McAfee’s logistics is online based with downloadable content for user’s easy access. (S) ?. Companies in today’s business world have the pressures to improve IT security. McAfee is working with companies to develop strategies to improve security risk while saving organizations money by improving network capabilities. S) ?. McAfee’s manufacturing/service objectives and strategies are not stated to the public. (W) 30. Human Resources Management ?. As with almost all highly technical businesses, McAfee has to budget a greater portion of its operating expenses for salaries of a very highly educated and trained work force. Software and program designers have advanced degrees in computer technology, and command higher salaries than traditional manufacturing jobs. (S) ?. Recruitment of such valuable talent is a considerable expense to these companies. McAfee considers its employees as its most valuable tool, and rewards them with good benefits and strives to give them a good working environment. It is an equal opportunity employer, and promotes respect to all levels of employees. (S) ?. McAfee has a very strong continuous education and training program, and an educational assistance program for employees who wish to pursue additional academic education. (S) ?. The company Standards of Conduct manual emphasizes the highest ethical standards, particularly in their relationships with their customers, suppliers and shareholders. S) ?. McAfee has grown from 26 employees in 1992 to over 3,500 employees in 2003. However, in May of 2003 laid off about 150 employees, and in December of the same year, an undisclosed number of employees were laid off from the Sniffer division. (W) 31. Information Systems ?. McAfee has had a tradition of using acquisitions to improve on its technology for various products. (W) ?. Although many of the technolo gy McAfee has gained, they do create their own software. They are ranked second among computer software companies. They also have over 250 patents by the beginning of 2005. S) ?. McAfee maintains a very competent Information Systems Department as well as a Customer Service Departments which have been able to recognize and troubleshoot internal problems within their programs. They have adapted well to the acquired company’s technology to also correct problems dealing with integration between the software. (S) ?. McAfee has recognized with its partnership with VeriFone Holdings Inc. that protection in the place of commerce is an important sector to target with the growth of the economy. McAfee has also begun working on protections for e-commerce. S) K. Summary of Internal Factors 32. Internal Factors Analysis Summary Matrix (Exhibit F) V. Analysis of Strategic Factors L. Strategic Factors Analysis Summary Matrix (Exhibit G) M. Review of Mission and Objectives 33. Current mission statement is sufficient. 34. Objectives must be developed further to accomplish the company’s goals of beco ming a worldwide leader in intrusion prevention and risk management solutions and services. 35. Suggested Mission: Secure and protect systems of all users, business to home users, from known and unknown global threats. By working with our current partners and potential future ventures we’ll provide best in class solutions and services. 36. By changing the company’s mission it will help create objectives in accomplishing McAfee’s goal of becoming the worldwide leader in intrusion prevention software. VI. Strategic Alternatives and Recommended Strategy N. Strategic Alternatives 37. Continuing growth through acquisitions. ?. Pros 1. ) Increasing their technological advances. 2. ) Broadening market synergy. ?. Cons 3. ) Acquiring companies too similar to existing standards. 4. Becoming too costly to acquire new companies. 38. Pause (stability) strategy ?. Pros 5. ) Allows more focus on internal Ramp;D. ?. Cons 6. ) Lack of obtaining new acquisitions. 7. ) Lack of growth can continue to decrease market share. 39. Establish Ramp;D program ?. With McAfee’s growth, it’s important to revise the corporate structure into more of a divisional structure. ?. By restructuring th ey can identify the profitability of their product mix. ?. Once a better developed Ramp;D program is established, it will lessen the need for as many acquisitions O. Recommended Strategy 40. We recommend continuing growth through acquisitions since McAfee’s Ramp;D isn’t as established as competitors. 41. McAfee should consider its own Ramp;D strategy. 42. Developing marketing strategies will increase market share as McAfee has only been an average competitor in the industry. 43. Make McAfee exclusive to leading computer manufacturers (ex. Dell, HP). VII. Implementation P. For McAfee to continue to grow they will need to develop their own Ramp;D program as future acquisitions become limited and potentially more costly and less beneficial. Expand policies/procedures in quality ontrol to strive for continuous improvement and customer satisfaction. Q. In order to continuously improve product performance the need for a divisional corporate structure would be necessary for each product line. R. Directors of the board and top management should be in support of implementing a Ramp;D program as well as a shift to a divisional corporate structure. S. As acquisitions become more costly, the discussed implementation becomes more financial feasible. VIII. Evaluation and Control T. McAfee has proven to have the internal structure to monitor their performance and respond in a timely fashion to problems that may arise. This information is based on McAfee’s response to recent financial shortcomings. U. Our evaluation of McAfee has found that current standards aren’t sufficient and with the new recommendation new standards will be needed for the methods of measurement. Exhibit A Anti-virus Market Share in Worldwide Sales Based on $4. 02 billion total sales of anti-virus software Exhibit B EFAS External Factors| Weight| Rating| Weighted Score| Comments| Opportunities| | | | | * Market Share| . 05| 1. 8| . 09| Only hold 15%| * Internet Boom| . 10| 4. 25| . 425| Growth of e-commerce and Internet speeds| * Economics| . 05| 3. 5| . 75| Consumers spending more on technologies needing protection| * Acquisitions| . 20| 4. 5| . 9| Continue market share growth through acquiring smaller companies| * Product Distribution| . 10| 4. 0| . 4| Bundling products with other companies| Threats| | | | | * New Entrants| . 15| 3. 5| . 525| Microsoft announcement reduced stock price| * Global Competition| . 20 | 2. 5| . 5| Increasing global market| * Intellectual Property| . 10| 4. 0| . 4| Foreign government laws| * Bargaining Power of Buyers| . 05| 3. 0| . 15| Free security programs from competitors, internet downloads| Total Scores| 1. 00| | 3. 565| | Exhibit C After a number of years of steadily increasing sales and revenues, Network Associates, Inc. , (NAI), the predecessor of McAfee, saw revenues slide from $1,043 million in 2002 to $936 million in 2003, a more than ten percent drop. (W) By comparison, Symantec, a primary competitor with its Norton Anti-virus program, had revenues totaling $1. 4 billion, and held a 37% market share in anti-virus software sales. Exhibit D Although the SEC investigation and required restatement initially hurt McAfee’s image, by the end of 2004 most analysts felt that the company was on the mend, and had achieved an earnings consistency.

Hurricane Katrina Reaction Paper †Political Science

Hurricane Katrina Reaction Paper – Political Science Free Online Research Papers Hurricane Katrina Reaction Paper Political Science Hurricane Katrina was without a doubt the most devastating national disaster the United States has experienced since 9/11. The lost of life and the destruction of a majority of the infrastructure of southern Louisiana, including Louisiana’s largest city New Orleans put the entire state into an economic panic. The economy has gone stagnant, especially since tourism creates a great deal of revenue in the state, particularly in New Orleans. A large portion of those people who were unfortunate enough to have lived in Katrina’s path became homeless. New Orleans also has one of the highest poverty rates in all of the United States; several people who either didn’t have private transportation or couldn’t access public transportation were stranded. After the hurricane all the stagnant water that remained was a breeding ground for disease. Those people that were left behind were susceptible to illness, and there was little chance they would be able to receive healthcare needed. The Bush administration and the different levels of government in the state of Louisiana have faced a great deal of criticism following that of the hurricane. News of the Hurricane had come weeks prior to it actually hitting Louisiana, but no evacuation plans of any kind were even mentioned until days/hours, before Katrina hit. Emergency assistance was simply too late. Not only were evacuation efforts poor at best, the Bush Administration had supposedly been diverting funds from hurricane protection efforts to the war effort in Iraq, most notably those to the Army Corps of Engineers. There last minute efforts to reinforce the levees in Louisiana, but they could almost be considered a waste of time. They collapsed and didn’t do the least bit of good. The question I have is that if Louisiana had properly prepared for this Hurricane could all of this destruction and loss of life been avoided? I personally think it could have. What is most alarming to me is that there were failures at several levels; nothing seemed to have gone right. Those people who were in the path of Katrina should have been properly evacuated weeks before the storm hit. Proper precautions should have been taken reinforcing the levee; if the levee had not failed the damage done would have been much less devastating. Hopefully Katrina will serve as an example for future generations, or even those people currently holding political office in the United States. The next time a disaster of this magnitude is threatening the country action should be taken without hesitation. Research Papers on Hurricane Katrina Reaction Paper - Political ScienceHip-Hop is ArtNever Been Kicked Out of a Place This NiceThe Effects of Illegal ImmigrationLifes What IfsAssess the importance of Nationalism 1815-1850 EuropePETSTEL analysis of IndiaTwilight of the UAW19 Century Society: A Deeply Divided EraRelationship between Media Coverage and Social andQuebec and Canada

Light a Candle with Smoke (Flame Science Trick)

Light a Candle with Smoke (Flame Science Trick) You know you can light a candle with another candle, but if you blow one of them out, did you know you can relight it from a distance? In this trick, youll blow out a candle and relight it by causing flame to travel along a path of smoke. How to Do the Traveling Flame Trick Light a candle. Have a second source of flame ready, such as another candle, a lighter, or a match.Blow out the candle and immediately place the other flame into the smoke.The flame will travel down the smoke and relight your candle. Tips for Success If you have trouble lighting the smoke, try moving your flame closer to the wick because thats where the concentration of vaporized wax is highest. Another tip is to make sure the air is still around the candle. Again, this is so you maximize the amount of wax vapor around the wick and have a clear smoke trail to follow. How the Traveling Flame Trick Works This fire trick is based on how candles work. When you light a candle, the heat from the flame vaporizes the candle wax. When you blow the candle out, vaporized wax briefly remains in the air. If you apply a heat source quickly enough, you can ignite the wax and use that reaction to relight the wick of the candle. Although it looks like youre lighting the candle with smoke, its really just the wax vapor that ignites. Soot and other debris from the flame isnt ignited. You can watch a YouTube video of this project to see a candle relight itself, but its even more fun to try it yourself. Disclaimer: Please be advised that the content provided by our website is for EDUCATIONAL PURPOSES ONLY. Fireworks and the chemicals contained within them are dangerous and should always be handled with care and used with common sense. By using this website you acknowledge that ThoughtCo., its parent About, Inc. (a/k/a Dotdash), and IAC/InterActive Corp. shall have no liability for any damages, injuries, or other legal matters caused by your use of fireworks or the knowledge or application of the information on this website. The providers of this content specifically do not condone using fireworks for disruptive, unsafe, illegal, or destructive purposes. You are responsible for following all applicable laws before using or applying the information provided on this website.

Communication Skills for Managers Essay Example | Topics and Well Written Essays - 1000 words

Communication Skills for Managers - Essay Example Managers should adopt a business environment that supports high employee productivity. Communication skills of managers should be effective in addressing the different demands of the employees and achieving the objectives of the business. Proper communication skills used by managers are critical in retaining employees. Business managers should consider the effective use of the different levels of communication. Communication channels at the workplace should encourage a nationwide forum in which all employees engage. Departmental communication is equally valuable in any business. Team communication is vital to ensure an inclusive teamwork. Communication at the lowest level involving individuals is equally valuable. A vital role of management is to ensure employee satisfaction. According to studies, employee dissatisfaction is an innermost factor that can be the cause underperformance at the workplace. Business goals are unattainable when there is a high level of employee dissatisfacti on and underperformance. Poor communication strategies adopted by managers have diverse impacts on the operations at the workplace. The implications of increased employee turnover can be massive when there is ineffective communication at the workplace. ... The business may make serious losses and fail to meet its goals. Poor service provision by employees to business customers may be a cause of a high rate of product defects. High defect rates of products also leads to serious business losses. Communication in the workplace is necessary in updating employees on the business goals. Communication is also central in passing informing to employees on the possible adjustments in the programs of the organization. Such adjustments are invaluable in attaining the business' set goals. Any lack of focus on the business objectives, by employees, can affect the business to a vast level. Communication, therefore, is instrumental in ensuring that employees are at par with the business objectives and make necessary adjustments. Innovation is central in achieving the objectives and successful operation of every business. Businesses are most likely to have stifled innovation when communication is poor, ineffective and uncoordinated. With little innovat ion, the business attracts low competitive advantage in the market. The emergence of market trends necessitates the adoption proper communication skills to drive diverse success factors in the management of every business. Organizational behavior has an extensive contribution in the achievement of workplace success. This depends on the extent of communication that managers invest in, at the workplace. The success of every business must encompass all aspects including effective communication. Internal communication involves the exchange of information within the organization (Kaul 7). It occurs between the business management and organization’s employees. External communication involves the exchange of