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Paper on “Evaluating Company Resources and Competitive Position”

Paper on â€Å"Evaluating Company Resources and Competitive Position† Discuss whether this company?s financial performance improved, remained the same, or worsened during the time period you examined. The financial performances of the Netflix Company improved between the periods of the two years, 2011 to 2011. The financial performances of the Netflix firm improved because of the increase in the number of sales. The sales related to the purchases of the movies and other film related accessory appreciated. This implies that the firm was capable to obtain an incensement in the profitable margin of the industry. The increase for sales was attributed by the fact that the number of the customers purchasing the commodities also increased. The management on a plan to increase the sales decided to introduce a discount plan that was given to the customers (Pride Ferrell, 2012). The discount plan was to be granted to all the consumers that were willing to purchase certain commodities from the Netflix firm. All the customers that were to purchase the commodities above a given price were to obtain the discount. Is this firm at a cost advantage or disadvantage relative to competitors in the industry? The firm, Netflix, is at a Cost Advantage to competitors since it is making more profitable gain than the other industries in the movie industry. The competitors such as the HBO, which is, also a worldwide known company is unable to compete with the Netflix firm because of the difference in the financials. The two organizations are unable to compete because of the increase in the financial profitable margin difference. Apparently, the Netflix firm is making profitable returns from the sales in the movie industry (Afuah, 2009). The increment in the sales of the Netflix organization is attributed by the marketing strategies of the firm. The firm is currently denoted to satisfy the customers’ demands and preferences in the readily available marketplaces of viewers. Based on research on this company, create a SWOT analysis. How is your SWOT analysis aligned with your financial analysis? The SWOT analysis of the Netflix firm is based on the strengths that are supporting entities to the success of the firm. One of the key strengths of the Netflix is that it has loyal customers that continuously purchase commodities from the firm. The loyal customers also contribute to the increase in the number of the customers that purchase the products and services offered by the Netflix firm (Goldfayn, 2011). The weakness of the Netflix firm is lack of the steady management that is willing to provide the firm the innovative market strategies. The management of the Netflix firm lacks the appropriate marketing manager. This is for the key reason that most of the firm is filled with the operating managers that ensure that the firm is progressing effectively. The opportunity of the Netflix firm is that the organization can still invest in other products that will increase the movie selling industry. For instance, the organizations might decide to produce other products that are related to the movie industry such as the empty DVD and compact disks and purchase them to the customers (Goldfayn, 2011). Such products will definitely increase the sales of the organizations. The threat of the Netflix organization is the increase in the number of the film industries that produce and purchase film related accessories. The emerging number of the film industries is what attributed to the threats that are facing the movie industry. The SWOT analysis is aligned to the financial analysis since the strengths reveals in increase in the profitable margins.

The Dangerous Effects Of Drunk Driving - 2026 Words

The horror stories continue to increase, the lives of the innocent are silenced in one moment, and no highways are safe to use to escape this trauma that has taken the country by storm. The trauma that has caused so many lives and so much tax money is drunk driving. Drunk-driving is not only dangerous for the driver of the vehicle, but also for the passengers and everyone in proximity of the driver s path. If the penalties are raised for drunk-driving offenses, all of the horror stories of crashes on highways and the loss of innocent lives can be prevented and the frequency of other alcohol related criminal activities would decrease dramatically because the deterrence from the laws would be more effective and have a wider audience. The drunk-driving laws that were implemented before the Zero-Tolerance era took a position stating that â€Å"[drunk-driving] laws [were to be] aimed at youth under age 21[. Specifically,] underage youth [were] subject to the same BAC [(Blood Alcohol Con tent)] threshold as adults over age 21, generally in the range .08–.10 [BAC]† (Carpenter, â€Å"Heavy Alcohol...Crime†). These laws were problematic because .08 BAC for a young adult (age 20 or under) still has a more devastating effect on a young adult s body than on an adult 21 or over. The reason for this is that a young adult s brain and body are still developing, so if alcohol is introduced into the young adult s body multiple organs could be corrupted and deform. The BAC limit is also indirectlyShow MoreRelatedDrunk Drivers Should Not Be Banned1279 Words   |  6 Pagesa large amount of drunk driving accidents almost every year there are drunk drivers getting away and not having any harsh consequences.Drunk driving has killed over hundreds of citizens due to the mistakes by over intoxicated drivers. States all across the country have lowered the blood alcohol limit to keep drunk drivers off the road from hitting a pedestrian. Some citizens believe that dr unk drivers should not be punished more harshly due to be over intoxicated while driving. If there is no harmRead MoreAlcohol Related Accidents Essay874 Words   |  4 Pageschance of being in an accident with a drunk driver. Drunk driving is a serious problem that the United States, as well as the world, is trying to deal with, because it does not only effect a select few, it effects everyone. Drunk driving amongst high school students is an enormous problem that the United States is trying to cope with. Many programs have come to surface over the past few years, that educate students on this situation. MADD, mothers against drunk driving, is a non profit organization thatRead MoreDistracted Driving Is One Of The Leading Cause Of Death Essay1396 Words   |  6 Pages Distracted driving is one of the leading causes of death. â€Å"Every year, about 421,000 people are injured in crashes that have involved a driver who was distracted in some way,† (Hopkins). Even though this is true, people who use a cell phone while driving are not punished as harshly as drunk drivers. A DUI, driving while intoxicated, is a misdemeanor and could result in a few months in jail, as well as a fine. The punishments for a DUI get more severe each time someone is charged. While, the punishmentRead MoreDrinking and Driving886 Words   |  4 Pagesbecause they know the dangers of driving after having a few drinks. Instead they ca ll a cab to give you a ride home. You would be extremely lucky to have such smart friends. Drunk driving is a very serious problem in our society today, but it is becomming socially unacceptable causing the numbers of alcohol related traffic fatalites t o decline considerably. Drunk driving can be very deadly. Yet many people drive while under the influence everyday. Drivers who are drunk are blamed for the loss ofRead MoreDrinking And Driving1180 Words   |  5 PagesDrinking and driving is not always a right thing. When people drink and drive the action of it could get extremely dangerous. Wrecks are one of the main problems that can happen when some people are drunk because some can lose control of what they are trying to do and end up wrecking. Another problem is driving under the influence of being on drugs. This can cause serious damage. When people are on drugs, they lose train of thought and half of the time, they forget what they are doing. It does notRead More The Consequences of Drinking and Driving Essay531 Words   |  3 PagesThe facts are plain and simple, that alcohol and driving do not mix. About three in every ten Americans will be involved in an alcohol related crash at some time in their lives. Every single injury and death caused by drunk driving is totally preventable. To curb this national travesty, concerned Americans need to examine the problems, the effects, and the solutions to drunk driving. First of all, America has had a problem with drunk driving since Ford perfected the assembly line. Alcoholism is aRead MoreEducating the Drinker on the Dangers of Drunk Driving Essay503 Words   |  3 PagesEducating the Drinker on the Dangers of Drunk Driving Alcohol is a drug, a very popular drug. Alcohol has been around for a long time, and people have always enjoyed its effects. Many people have passions for alcohol, some people have refrigerators filled with beer, and many others are wine connoisseurs. Alcohol always seems to liven up the party. But no matter what your preference is, alcohol can be very dangerous when combined with the operation of an automobile. If you can remember onlyRead MoreLegal Drinking Age853 Words   |  4 Pagesdifference: the legal drinking age should not be lowered because it helps prevents youths from driving drunk, it helps prevent youths from committing violent crimes, and it helps prevent incomplete develop of the brain. Even though drunk driving may not be one of the highest leading causes of death, it is still an enormous issue. As we all know, an inebriated person behind the wheel is extremely dangerous, so what if we could help prevent that happening to more and more under age individuals? ThisRead Moretexting while driving1007 Words   |  5 Pagesï » ¿ The Dangers of Texting While Driving Over the past few years, texting while driving has become a major issue for many Americans across the country. It has been the cause of many deaths and injuries and is a huge distraction for drivers. Texting while driving is said to be as dangerous as drunk driving. Many campaigns have been developed to further reduce the rate of accidents caused by texting while driving, but these are not taken to notice by the thousands of people taking their chancesRead MorePersuasive Essay On Drunk Driving1118 Words   |  5 Pagesthe ultimate price for a bad decision you made. In the United States, a person dies every 51 minutes due to the actions of a drunk driver. Every day, alcohol impaired drivers are responsible for an average of 28 deaths. Understanding that it can happen to you and that choosing not to drive buzzed or impaired is the only responsible decision to make. Drinking and driving even just one time can be the biggest mistake you could ever make. I would like to take you back to 2003 . I was in kindergarten

Pros And Cons Of Ethical Egoism - 1299 Words

Introduction Over the course of three weeks, we have examined ethical models from various cultures and eras, namely Ethical Egoism, Confucianism, Plato’s Crito and Aristotle’s Nicomachean Ethics. While all of these models represent the ideal principles of conduct as conceived by four great minds, each has its own fair share of merits and flaws. Ethical Egoism Ethical Egoism bases its arguments on the assumption that every person’s own life is of supreme importance to him or her (Rachels, 78) As Ayn Rand puts it, â€Å"The achievement of his own happiness is man’s highest moral purpose†(Rachels, 68). Ethical Egoism condemns altruism and regards itself as the only ethical model that truly values an†¦show more content†¦Paul Woodruff echoes this idea of mutual civility among a community in his discussion of Reverence, â€Å"Wherever people try to act together, they hedge themselves around with some form of ceremony or good manners, and the observance of this can be an act of reverence (Woodruff, 5)† Filiality does come with its problems though. â€Å"Meng Yizi asked about filiality. The Master said, ‘Never disobey’ (Analects, II 2.5)†. â€Å"Never† is clearly too extreme of a word for this policy to work in all scenarios. Parents don’t always know what’s in their c hildren’s best interests, and blindly obeying them can result in a subservient and reliant person. Humility is addressed at great length in the Analects as well, especially in academics. â€Å"To remain unsoured when his talents are unrecognized, is this not a junzi?(Analects, I 1.1)† and â€Å"The Master said: Do not be concerned that no one recognizes your merits. Be concerned that you may not recognize others(Analects, I 1.16)† According to Confucius, a true junzi does not concern himself with fame and recognition, he stays humble no matter how underappreciated he is. This seems reasonable coming from an era when one too many people overestimate their abilities and assumes the right toShow MoreRelatedPros And Cons Of Ethical Egoism794 Words   |  4 Pages The Pros and Cons of Ethical Egoism With reference to the ‘The Ring of Gyges,’ Glahoun, Plato’s brother argues in favor of selfishness and unjust lives. The ring of Gyges suggests that people avoid being selfish because of potential punishment, but that is a low form of life. I believe when one comes at peace with oneself and decide to do the right thing; one will not only save the human race, but will live a fulfilled life too. Egoism suggests that the ethical principle to follow is one whichRead MoreSale of Sand to the Saudis Essay727 Words   |  3 Pagesis hired for the job. Joe is now faced with an ethical dilemma -- accepting her offer to save his job and home, or refuse it and hire someone more suited for the vacant sales position. Joe’s decision making dilemma can take the route of ethical egoism or virtue ethics. Ethical egoism claims that it is necessary and sufficient for an action to be morally right to maximize ones self-interest (Shaver, 2010). If Joe decides to choose ethical egoism he will considered his problems to be solved becauseRead MoreAnalysis Of Jean Mcguire s Closing The Deal Essay1475 Words   |  6 PagesEthics and morals are very important in today’s world, as these factors play a huge part in decisions made everyday. In the case study â€Å"Closing the Deal†, Jean McGuire is faced with an ethical dilemma, there are a number of ways this ethical dilemma can be resolved however not all options include ethical morals. Jean McGuire works for Sunrise Land Developers selling lots. Wright Boazman the sales director at the company states Jean â€Å"lacks technique† (Shaw, 2014, p. 236). Jean McGuire has a decisionRead MoreEthical Egoism Essay1537 Words   |  7 Pages specifically, an ethical egoist is one who thrives to improve ones own self being, with much respect to morality. Ethical Egoism is the theory that one should pursue his or her own interest above all the rest. It is the idea that all persons should act from their own self interest in relation to morality. There are many different types of ethical egoism: Personal ethical egoism, Individual ethical egoism, Universal ethical egoism, Categorical egoism, and Hypothetical egoism. Personal ethical egoism is theRead MoreTaking a Look at Euthanasia1733 Words   |  7 Pagesof this task is to critically analyse the nature and extent of euthanasia and whether assisted suicide should or should not be legalised, corresponding to ethical theories. This essay will develop an outline of what euthanasia entails, human rights debates, and the debate of legalising euthanasia in regards to consequentialism. Ethical egoism and utilitarianism are two moral theories that can be applied directly to euthanasia, both supporting and opposing the moral debate at hand. Statements andRead MoreThe Ethics Of The Ethical Systems872 Words   |  4 Pages The Ethical Systems In ethics, four systems serve as different beliefs concerning our morals: Relativism Ethics, Consequentialism Ethics, Deontological Ethics, and Virtue Ethics. These four theories attempt to define what right and wrong should be and how one should handle any situation. There are many strengths and weaknesses of each view. The goal is to determine which theory is the best by exploring real world situations and questioning the claims that just don’t work out. RELATIVISM ETHICSRead MoreSweatshops : Morally Permissible Or Not?1645 Words   |  7 Pagesspace, there was small ventilation in the room. Many of us do not work in such horrible conditions like that. Our jobs have stricter safely laws of labor. Sweatshops has been and still till this day is a topic of discussion and an ethical issue. I believe it is an ethical issue in the point of view of those of us that are fortunate enough to be able to work in proper working conditions, along with reasonable hours and proper pay. Also, most kids in this country go to school instead of having to sacrificeRead MoreMoral Order1757 Words   |  8 Pagesindicate if each statement is TRUE or FALSE. Each answer is worth two (2) points. 1. Ethical relativists claim that cultures ultimately share the same basic ethical principles.FALSE 2. Ethical relativists claim that even though cultures seem to differ on ethical standards, they ultimately share the same basic ethical principle--namely, moral goodness is that which produces happiness. FALSE 3 Ethical relativists argue that, because all moral values are relative to cultural or individual choiceRead MorePreventing Unconscious And Conscious Bias1230 Words   |  5 PagesCan I Change My Name to Avoid Discrimination?-Response It is Ethical to modify your name to prevent unconscious and conscious bias, if the act advances your best interest, without causing you harm. This point my be modified to the most extreme limit that will benefit you. I will analyze a few examples from the article and apply Act-Egoism to it. Although I am not the biggest fan of Act-Egoism, I think that this theory would offer a solution for this article. Kwaame Appiah thinks it is reasonableRead MoreRoger Berg--Management Ethics2365 Words   |  10 PagesPlanning Division, Lake Corporation. III. Statement of the Problem Which subcontractor should Roger Berg recommend to his bosses? IV. Statement of Objectives Short term: * To determine what actions should Roger do in order to resolve the ethical dilemma he is facing. * For the company to award the project to the deserving subcontractor. * To be able to look for a treatment to Roger’s wife without resorting to violations of management ethics. Long term: * To develop and implement

Advanced industrial business management Free Essays

Globalization is actually the process of economic, technological, political and socio-cultural forces i.e. globalization refers to the adaptation or development of values, knowledge, technology and behavioral norms across different societies and countries around the world. We will write a custom essay sample on Advanced industrial business management or any similar topic only for you Order Now The characteristics of globalization are mostly linked with global networking (i.e. internet, electronic communication or technology and many more) with interflow of information in the economic, social, political and cultural learning areas, interflow between international alliances and competitors, international collaboration and multi-cultural integration and global village and technology. Globalization amplifies the cultural diversity of an organization and the company needs to be aware of the culture diversity within the organization so that they can guide the managers when they take decisions. Managers need to further their contributions to the organization by being informed about cultural differences among the company’s international operations. The company’s role is not to object to or block technology transfers or other innovations to facilitate them. The growing globalization of business also means grater movement of employees among countries. (Edwards, 2006) Global Expansion Companies large and small believe in global expansion and the companies find that thinking globally can provide them with a competitive edge over their competitors. International markets provide many opportunities for companies to expand themselves. Large companies are the ones who carry out international business . Companies who are global or in the global or stateless stage of international development transcend any single home country. The companies operate in a global fashion, making sales and acquiring resources in countries where the cost is the minimum and where a lot of business opportunities are there. At this stage, companies have their offices located at different locations around the world with total control and ownership. The companies that operation internationally encourages free flow of ideas, products, manufacturing and marketing among countries so that they can achieve great efficiencies. (Daft, 1997) Ways to Expansion There are different methods of global expansion for any large company. All companies have a couple of ways in which they can expand their business globally. One if the ways a large company can expand itself it through seeking out cheaper sources for supplies and looking for cheaper suppliers who would supply the company offshore, this process is called the outsourcing method. Another method for a company to expand globally would be by developing markets for the company’s finished products outside the company’s home country, this may include licensing, direct investment or even through exporting etc. This kind of method is called the market entry strategy where the company introduces itself and its products for selling in a foreign market. What happens is that the most companies start with exporting and they work up to direct investing in the foreign market. The different ways for a company to expand itself globally are as follows:- Outsourcing Outsourcing here is being referred to as global sourcing or outsourcing, basically means engaging in the international division of labor so that the production of the company’s products can be done in the cheapest sources and supplies available to the company. For example, the company may take away a contract from a domestic supplier because the supplier was providing the company with expensive materials and can replace it with a supplier in Far East because that supplier is providing with the cheapest material for the production of the products. Outsourcing is mostly conducted by the company so that it can increase its profits. (Fullmer, 1983) Exporting With the help of exporting the company can maintain its production facilities within the home nation and then transfers the product for sale in the foreign market. Exporting basically helps the country to market its product in other countries at modest resource cost and with very minimum risk for the company and the country. There are some large companies that usually do not want to be involved in any kind of investment in the foreign market, therefore for such companies who want to expand globally usually export their product to the foreign markets like Gerber Scientific Inc. (high-tech equipment supplier). Licensing With the help of licensing a company in one country makes certain sources available to companies in another country. These resources include technology, managerial skills, patents or even trademark rights. Franchising is a form of licensing in which the franchisor provides foreign franchises with a complete package of material and services, which include equipment, products, product ingredients, trade mark and trade name rights, managerial advice and a standardized operating. Some of the best known international franchisors are the fast foods chains and coffee shops like Starbucks, Costa Coffee, Burger King, Dunkin’ Donuts, KFC, Pizza Hut or McDonald’s. Licensing and franchising offer a business company relatively an easy access to international markets at low costs, but the limit its participation in and control over the development of those markets. (Fullmer, 1983) Direct Investment Direct investment can be described as a higher involvement of the company in an international trade. Direct investment means when the company is involved in managing the productive assets, which distinguishes it from the other entry strategies which stops less management control. Joint venture is a also a part of direct investment which can be defined as a variation of direct investment in which the company would share costs and risks with another firm to build a manufacturing facility, or to develop new products or even to set up a sales and distribution network. (Fullmer, 1983) Conclusion This paper basically stresses on the growing importance of an international or global perspective of the company that how it can expand itself. Large companies that have been a huge success in their home countries have begun to expand their business overseas and are preparing themselves even now to withstand domestic competition from the foreign markets competitors. Business in the global arena involves risks and difficulties that have to be faced by the company’s management. References Daft, R.L. (1997) â€Å"Management†. Orlando: The Dryden Press David Roman (2008), Going Global, Available from http://www.eetimes.com/global/, on 5th December’08 Edwards, W. (2006), ‘Why go global? Compelling reasons to expand internationally’, Available from http://www.allbusiness.com/retail-trade/4017371-1.html, on 5th December’08 Fullmer, R.M. (1983) â€Å"The New Management† New York: Macmillan Publishing Company How to cite Advanced industrial business management, Essays

Importance of Information Governance

Question: Discuss about theImportance of Information Governance. Answer: Introduction: Information Governance is one of the most important aspects of the contemporary organizations and plays vital role in the successful accomplishment of the goal and objectives of the organization. It helps in carrying out the requisite business activities more sophisticatedly thus; provide additional advantages to the company, which help the organization in staying ahead of the arch rival of the company. Information Governance basically refers to the managing and controlling of information of an organization, it is the procedures, role along with the policies, standards as well as matrices, which secure effective as well as efficient usages of information in order to enable an organization for accomplishing its goal and objectives (Axelrod, Bayuk and Schutzer, 2009). The effective information Governance of an organization helps the management in making effective decision in favor of the organization. It helps in improving the accountability framework of the company so that it secures proper manner in the valuation, creation as well as storage of the information in order to using, archiving as well as deletion of the information. In this particular assignment, there are two articles on Information Governance will be analyzed and discussed in order to gain superior knowledge about the Information Governance. Analysis The Information Governance has been evolved through the years because of the advancement in the field of information technologies as well as the development of the internet is also evolved the Information Governance. The IT professionals have to be aware of the current development in the field of the information technologies and internet in order to match with the other contemporary organization. The information governance helps in improving the risk management system of the organization as well as it help in value creation for the organization (Ballard, 2016). It helps in improving the policies of the organizations as it provides accuracy and improves the effectiveness of the company; thus the management can take more efficient decision in order to improve the potentiality of the organization. As the importance of Information Governance within the contemporary organizations is improving in rapid basis thus, the managements of the business organizations provide utmost emphasis on dev eloping effective Information Governance strategies and policies for the organization, which help in achieving additional advantages as well as which keep the organization ahead of the arch rivals of the organization (Calder and Watkins, 2012). The analysis of the article Information governance beyond the buzz provides the concept of management of records and information knowledge management perspectives with providing the attempts for the identification with the identification of the critical aspects. It thereby provides essential elements with consequences regarding the challenges in regarding the corporate experience in regarding the global setup. This framework provides the appropriate importance with the creation of careful scope for the identification of the issues in the information governance. The framework helps in the creation of the values that creates the barriers for setting the corporate setup with the creation of the information life cycle management (Hagmann, 2016). The critical analysis of this paper also provides the reviews of the success with the identification of the challenges which helps in reviewing the proportions of the specific business functions. It thereby also helps in the creation of the reco rd management with constructing the probabilities and thereby the success becomes possible with mitigating the issues. The practical experiences are focused with providing the view and thereby it also helps in implementing IG programme (Sheridan, 2016). The record management in this article helps in the encouraging the members in the form of the exploratory research that becomes the kind of setting pitfalls for the organisation. This research paper also consists of the inspiration with the creation o raised needs of Information governance programme for the organisation. It thereby also helps in the creation of the community management with encouraging the needs in order to fulfil the records management of the community. The attempts are made with the creation of initiative for the implementation of the IT in the field of the information governance (Norfolk, 2011). The success is seemed to be possible with clearing the value propositions and thereby the specific business functions are performed and thereby the representation is required for the mitigation of issues. The biggest challenge becomes the fact with the consideration of the discipline and desired results. The consideration of the critical analysis helps in the successful corporate experience with the consideration of the global setup. The critical analysis of the article IG 101: What is Information Governance? provides the overview of the business industries regarding the implementation of the data and the information with the provision of the health care services. This article provides the overview of the specification of decision rights and the accountability framework in order to ensure the processes, roles and the policies with the standards and the metrics. The ensuring of the efficient use of the interest helps in the creation of the information with enabling the organisation to achieve the goals of the organisation (Hillard, 2011). This article provides the steps with keeping track on the missing audited records and also helps in acquiring the accuracy of the organisation. It thereby also helps in the consideration of the workflows with the system configurations and thereby the different values are seemed to be created with the creation of efficiency and effectiveness in the organisation. The information or the data governance is narrowly focused with the management of the usability, availability, integrity and security of the data employed and thereby it helps in providing the regulatory needs of the organisations (Warner, 2016). This article also provides the component of the business unit with thereby mitigating the crisis of the information with accessing the advanced gaps regarding the professional management of the data and the information. The information also seemed to be created in the form of the data and information and also helps in appropriate consideration of the management. Conclusion Information Governance provides significant competitive advantages to the organization by providing the requisite information, when required. Moreover, in the contemporary business scenario, right information is most essential for the company. Right information in right time improves the potentiality of the organization. The Information Governance; thus, contribute a huge contribution to the contemporary organization in order to achieve the competitive advantages. The Information Governance is responsible for the accountability framework within the organization and help in decision making process; it helps in taking appropriate decision about who can take decision in a specific situation as well as what would be most effective decision in a particular situation (Workman, Phelps and Gathegi, 2013). The goal of Information Governance is to ensure that the entire information resources support the organizational goal in order to help the organization to accomplish its strategic goal. The refore, Information Governance not only promotes effectual leadership in an organization it also improves the internal business environment and potentiality of the business organization. References Axelrod, C., Bayuk, J. and Schutzer, D. (2009).Enterprise information security and privacy. Boston: Artech House. Ballard, C. (2016). [online] Available at: https://www.redbooks.ibm.com/redbooks/pdfs/sg248165.pdf [Accessed 3 Sep. 2016]. Calder, A. and Watkins, S. (2012).IT governance. London: Kogan Page. Hagmann, J. (2016). Information governance beyond the buzz: Records Management Journal: Vol 23, No 3.Records Management Journal. [online] Available at: https://www.emeraldinsight.com/doi/pdfplus/10.1108/RMJ-04-2013-0008 [Accessed 3 Sep. 2016]. Hillard, R. (2011). The information-driven enterprise: managing the conflict between health processes and information governance.TJA, 61(3). Norfolk, D. (2011).IT governance. London: Thorogood. Sheridan, J. (2016). [online] Available at: https://www.standards.org.au/Documents/SA-Value-in-Governance-in-IT.pdf [Accessed 3 Sep. 2016]. Warner, D. (2016).IG 101: What is Information Governance? | Journal of AHIMA. [online] Journal of AHIMA. Available at: https://journal.ahima.org/2013/12/04/ig-101-what-is-information-governance/ [Accessed 3 Sep. 2016]. Workman, M., Phelps, D. and Gathegi, J. (2013).Information security for managers. Burlington, MA: Jones Bartlett Learning.

Auditing and Assurance Services Convenient Interpretations

Question: Discuss about the Auditing and Assurance Services for Convenient Interpretations. Answer: Introduction: In an audit firm, the sceptical auditor trust only in the facts and data and also verifies everything and push the convenient interpretations of past of the business to find all the underlying issues of the organization. The sceptical auditor sounds very sensible and has to concern for the veracity of situation of the audit firm (ICAEW, 2016). On the other hand, when there is a wrong situation in the firm, the sceptical auditor can come across closed and disconnected. Along with this, the inner sceptic approach of the auditor can influence the business to strength and control framework of the audit firms and also harm the ability of the auditors. In the organization, it is not enough to be sceptical for auditor; the auditor has to demonstrate it in practices. However, if the auditor is not appropriately sceptical and only seeking to corroborate management assertions then the opinion of the auditor loses its value to the investors (ACCA, 2016). The auditor of the company is likely applying the inner scepticism at the various stages during the audit process. Moreover, the sceptic auditors have an attitude that includes a questioning mind and also alert for the condition which may indicate the possible misstatement due to fraud and error in the audit firms. An inner sceptic of the auditors is closely related to the fundamental ethical consideration of the auditor consideration for the objectivity and independence of auditors. Under the audit process, too much skepticism can lead to the over-auditing that leads to the overall economic problem of the audit engagement in the audit firms (Murray, 2012). Therefore, it is necessary to demonstrate the scepticism and to achieve the right balance in the organization it is important to ensure the level of scepticism in the circumstances. Under the audit firms, the auditors have a strong working relationship with the management that leads to develop a trust and it also reduced the inner scepticism of an auditor. On the other hand, the audit firms encourage the culture of the audit firms that build a strong relationship with the audited entities. Sometimes, it may convert into an argument that demonstration of audit scepticism is difficult but audit documentation is a mechanism for demonstrating the inner sceptic in practice by the auditors (Murray, 2012). There is a challenge for audit firms to identify and retain people with the skills that undertake audit with the inner sceptic mind-set. Audit Commoditization Audit commoditization is referred to a process in the audit world in which client use to reduce the selection decision of their audit firms to the lowest common denominator such as- price. Under this, the client assumes the audit as a commodity and wants to pay the lowest possible price but expect the better services. On the other hand, the client service does not work to win the client but also it works to keep the client. In the audit firm, all the efforts of the client are being viewed as a commodity and no special skills and training are required for a CPA to perform quality work (Parthasarathy, 2014). In addition to this, many audit firms will assign a particular person or set up a department that will responsible for the service offer by the client and also support the program and activities of the client. In the Auditing commoditization, every person of the audit firm links with the chain of client service. On the other hand, total client service that has been provided to the client that will promote the long-term client retention (Anderson, 2012). In this, the client expects the high quality of service that is delivered on time according to the schedule. It is important for the entire engagement team about all the service that is needed to complete for each client with the minimum cost. Along with this, the concept of treating the auditor as a service provider is making the profession of auditor more reliable and it could ultimately result for the commoditization process in the audit world. At the present context, the situation results for the various factors that include the major accounting scandals, complex business arrangements, financial failures of large companies and many more. In addition to this, the process of audit rotation is being introduced with the various changes in the audit firms and it will help in the demonstrating transparency and also remove the perceived biases (Hay et al., 2014). Hence, it will effect on the commoditization of audit by making the auditor run the business. The commoditization in the audit also increases the profitability and status of the auditor within the organization. The reputation of the auditor is built over a particular time period that is based on various factors like professional skills as well as personal qualities f or the effectiveness of the audit process. The core value of the audit profession includes honesty, objectivity, integrity, and professional competence. For example- when a person goes to a family doctor, the person trusts the doctor and the doctor knows about the health history and knows the entire factor how to deal with these factors. At this situation, money and competition have played a very limited role in this situation. On the other hand, competition is good for improving the quality of service at economic rates but it cannot replace the relationship between the auditor and client that built up over the period of time (Anderson, 2012). Furthermore, the value of the service that has provided by auditor to client always depend on the value that has been created by the users and the relation between the auditor and client is extent similar to the doctor and patient, where trust and integrity play a very important role. There are many driving forces of the commoditization in the audit world in which the auditor increase the complexity of the service and technology that offers by him and also make an incomprehensible solution to the client. In addition to this, for reducing the purchasing decision to the lowest denominator like price, the client feel to pressured to calculate the value of the good and service of the audit firm (Holmes, 2014). On the other hand, the key challenge that has been arisen from the audit commoditization is ongoing compliance with the requisite standards and low price elasticity in quality. In the last 20years, a rapid change has been seen in the auditing profession and cost cutting in the audit profession placed pressure on the auditors to done the audit on the effective basis for reducing the risk and generating rapid growth (Gullette, 2015). However, to manage these forces audit firms should increase the formal structure in the audit process for the consistency and cost c ertainty. Nature, size and scope of the big four accounting firms: The big four accounting firms namely KPMG, EY, Pwc, and Deloitte are the largest network of professional consulting services in the world. These firms offer audit, tax, assurance, consulting, actuarial, advisory, legal and corporate finance services. The vast majority of audits of public traded companies and private company are handled by these accounting firms because threes firma are capable in identifying accounting errors and adjusting them (Ghoul et al, 2016). Big four accounting firms have wider spectrum of services with flexibility in doing works of small and large projects. In addition, these firms have quality enhancement in their auditing services and are devoted to provide continuous improvement in their financial consulting services. Not only finance and taxation services are provided by these firms but also they help their clients to fix, people, and IT issues (Mahanta, 2013). In this way, the big four accounting firms also provide enormous development opportunities and employment to auditors and accountants around the globe. With US $35.9 billion, PwC is the largest professional accounting firm who is generating highest revenue through auditing, assurance, taxation and advisory services. This company has more than 420 global companies as clients to provide financial services. It has more than 208,100 professional employees with organizing its consultancy services around 157 countries of the world (PwC, 2016). This company was shaped by the merger of two big accounting firms namely Price water house and Cooper Lybrand to dedicate themselves for providing valuable services and upholding good customer relations. Moreover, Deloitte is the second largest financial advisory service provider firm in terms of earning revenue. It had around 225,400 professional employees which is the largest employees strength among the big four accounting firm. Deloitte earned $35.2 billion in financial year 2015. This firm is providing consulting, auditing, risk management, financial advisory and taxation services in more than 150 countries to its worldwide clients (Campbell and Loyland, 2013). Furthermore, EY (Ernst Young) company is founded in 1989 by merger of Ernst Whinney and Ernst Young Company. EY is demonstrating excellence its services with helping around 212,000 employees in more than 150 countries to achieve its potentials. This accounting firm offers advisory, assurance, tax, and auditing services to their global clients. EY earned revenue of $28.7 billion in the financial rear 2015 with professional skills and value of integrity. In addition, KPMG is the fourth largest accounting firm in terms of generating revenue in 2015. This accounting firm earned US $24.4 billion in financial year 2015. KMPG employs around 173,965 professionals to provide qualitative services in 155 countries of the world (Butcher, 2016). These big four accounting firms have a wider scope in the profession of account because at present time every firm want to get excellent advisory firm who can provide a flexible and qualitative services. In this way, these accounting firms have experts to make effective theirs services and provides auditing, taxation, and advisory services at lower prices that create wider opportunities in the global market. The availability of their firms in various countries also creates the efficiency of their clients. Additional these firms provide accounting services at lower prices that make them cost effective firms and economical for their clients. Hence, the nature and the advantages of their services generate many scopes to develop occupation across the world as well as for the accounting professionals and auditors. In last decade, it is identified that the big four accounting firms are not only accounting firms but also they are offering law services to their clients, which is an important component for a business solution. In order to increased demand for legal services, the big four accounting firms are morphing into legal services to their clients. As an alternate, these firms are converting themselves from audit firm to multidisciplinary professional service firms and offering the integrated legal solutions to the businesses. Evolution of these big four accounting firms and shifting to matrix model combines law with risk management and sophisticated data to generate value based business solutions for the clients through professional development strategies. The attractiveness of global market for legal services in emerging countries have affected to the big four accounting firms than even the most global law firms (Esteban and Wilkins, 2016). In such competitive world, the legal network of b ig four accounting firms may be vital for an organization than any traditional firm law. Furthermore, an organization also requires additional services to run its business in a smooth way. In this concern, these big four accounting have started many different services to IT and human resources to increase their marketing services in an effective way. Hence, morphing in something else make these big four accounting firms in the global market. References: ACCA (2016). professional skepticism. Retrieved from: https://www.accaglobal.com/lk/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/scepticism.html Anderson, W.A. (2012). total client service: did you deliver all of your services or just the audit?. andersons audit express, pp. 2-4. Butcher, S. (2016) Working for PWC, Deloitte, EY and KPMG. Whats the difference? Retrieved from: https://news.efinancialcareers.com/uk-en/204621/working-for-pwc-deloitte-ey-and-kpmg-whats-the-difference Campbell, K., Loyland, M. (2013). Video as a Recruitment Tool at" Big Four" Public Accounting Firms: Why Video Should Be Part of Accounting Curricula.Academy of Educational Leadership Journal,17(2), 95. El Ghoul, S., Guedhami, O., Pittman, J. (2016). Cross-country evidence on the importance of Big Four auditors to equity pricing: The mediating role of legal institutions.Accounting, Organizations and Society,54, 60-81. Esteban, M. J., Wilkins, D. B. (2016). The re-emergence of the Big 4 in law. Retrieved from: https://blogs.thomsonreuters.com/answerson/big-4-accounting-firms-legal-services/ Gullette, M.L. (2015). Accounting and Financial Management. American Bankers Association, 202, pp. 1120-1123. Hay, D., Knechel, R.W., and Willekens, M. (2014) The Routledge Companion to Auditing. UK: Routledge. Holmes, A. (2016). Commoditization and the Strategic Response. London: CRC Press. ICAEW (2016). Find your inner sceptic. Retrieved from: https://www.icaew.com/en/technical/audit-and-assurance/faculty/audit-and-beyond/audit-and-beyond-2016/audit-and-beyond-feb-2016/find-your-inner-sceptic Mahanta, V. (2013). Big four accounting firms Pwc, Deloitte, KPMG, EY back in consulting business. Retrieved from: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/big-four-accounting-firms-pwc-deloitte-kpmg-ey-back-in-consulting-business/articleshow/msid-19756295,curpg-2.cms?from=mdr Murray, Z. (2012). The Pros and Cons of Professional Scepticism. Global accounting alliance, Retrieved from: https://www.gaaaccounting.com/the-pros-and-cons-of-professional-scepticism/ Parthasarathy, S. (2014). Auditing: Commoditized?. Moneycontrol.com, Retrieved from: https://thefirm.moneycontrol.com/story_page.php?autono=1034337 PwC (2016). Global Annual Review. Retrieved from: https://www.pwc.com/gx/en/annual-review/2016/pwc-global-annual-review.pdf