Monday, May 25, 2020
Sample details Pages: 6 Words: 1766 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Dubai Financial Market Contents DonÃ¢â¬â¢t waste time! Our writers will create an original "Dubais Financial Market" essay for you Create order Mission and Objective: Activities: Products / Services: Operations: Rules and Regulations: Benefits and usage: Mission and Objective: Dubai Financial Market, the stock exchange of UAE is established on 26th March, 2000 at Dubai as a public institution having its own independent corporate body by a resolution from the Ministry of Economy no, 14 of 2000. The DFM is working as a secondary market for trading of securities issued by public joint stock companies, bonds issued by the Federal Government or any of the local Governments or any public institutions of the country, units of investment funds, and any other local or foreign instruments, acceptable in the market. The mission of DFM is to provide different types of professional services related to stock exchange market to ensure with the variety of innovative services related to Trading, Clearing, Settlement and Depository of different instruments in an efficient, transparent and liquid environment. There are three such institutions in UAE, named as Dubai Financial market, Abu Dhabi Security Exchange- who is mainly working on the UAE Companys securities and NASDAQ Dubai-mainly deals in foreign instruments. The concept of stock exchange market is relatively new to UAE and people were keen to know the tricks of investing in stock exchange market. To guide them in proper manner the Government established DFM with common objective of educating the investment savvy Emiratis with the perspective of huge interest to be grown in UAE people and the revenue generation by way of volume of trading to the Government treasury. When a stock exchange is established in any country, the companies rush to list their instruments there for easy, transparent and professional trading enabling the companies to flourish with their performances. DFM is no exception, particularly with the high level of professional execution, the members are happy. The credential of a stock exchange may be derived by the volume of transactions take place for certain period, but behind the screen, the satisfactory level of the clients are also major factor to rate the stock exchange abo ut its efficiency level. The basic values of DFM to be followed are- transparency, confidentiality, efficiency, innovation and integrity. A long path to be flowed with the strong values makes the venture successful and trust worthy for the members of the institution. DFM runs with a vision to prove its entity as the World Class Regional marketplace. Activities: The activities of DFM are multi-folded- 1) To enlist new instruments in the exchange. 2) Calculate the derivatives 3) Ensure the smooth function of trading 4) Disbursement of capital to the eligible entity 5) The collection of revenue related to the transactions 6) The proper launching IPOs To enlist the new instruments in the market, there are certain systems which are set by the universal guideline and the same is to be followed. For calculation of derivatives, there is some calculation based on statistics which is done at the exchange by the experts. For smooth trading, the software is to be full proof and should not be prone to break down. The shut down process for maintenance or overhauling may be exercised during the period of official holidays. The disbursement of capital to the eligible entities- the seller should be flown from the buyer through Demat bank account and the process is to cash n carry which is monitored by the portfolio managers of the stock exchange. The collection of revenue from the transaction to be debited to the seller and buyer and that invoicing is done as per the standard system which is automatic and should not falter. When an IPO is launched, there seems to be heavy propaganda in media related to that. The opening and the closing date ar e mentioned in the brochure. The monitoring of the entire procedure is the portfolio of stock exchange market. Products / Services: The following products are available from the desk of DFM:- Equity instruments- DFM operates as a secondary market for the trading of equities and other instruments issued by Public shareholding companies and Government and Quasi- Government entities whether based in UAE or overseas. The categories of equities provided by DFM are- 1) shares,2) Dual Listed Shares, 3) Other Financial instruments. The shares are of the limited company shares floated in the stock exchange can be bought and become the partial owner of the company. The dual shares are the shares listed in more than one market, like one share listed in DFM and Gulf Finance House. The category of other financial instruments includes TEFs, Security lending and Borrowing, Market Maker, Short Selling, Mutual Funds, Rights Issues and Cover Warrants. Debt Instruments- As per the vision of His Highness Sheikh Mohammed Al Maktoum, Prime Minister and Ruler of Dubai, with his initiative to develop into the Capital of Islamic Economy and transform Dubai into a global sukuk center, DFM is the pioneer of debt instruments as per the principle of Fatwaa and Sharia Supervisory Board. There are two types bonds readily available in DFM- 1) Sukuk (Islamic Bonds) and Bonds. DFM along with NASDAQ Dubai offer a selection of Sukuk through single trading platform, including Sukuk listed by equity issuers, government bodies and institutions. DFM and NASDAQ Dubai listed Sukuk are tradable on-exchange. The conventional concept of Sukuk is not as per the concept of bonds; here the interest is not payable in cash, instead accumulated in asset, usufructs and financial rights. Bonds are also floated in the market by DFM and NASDAQ Dubai in the forms of selection of bonds including bonds listed by equity issuers, Government bodies and institutions. DFM an d NASDAQ Dubai listed bonds are tradable on-exchange. Securities Lending and Borrowing- SLB is the term used for temporary loan against securities by a lender or borrower on the condition that the lender may recall the securities at any time of his choice, subject to normal market settlement cycle not withstanding any agreed maturity date, or borrower may return the securities at any time. The merits of SLB are that the process leads to market efficiency and liquidity, in turn reduces market volatility by reducing bid/offer spread and increasing bid/offer depth, allows price discovery and the arbitrage of pricing inefficiencies, supports the development of the capital market by facilitating various investment strategies. IVESTOR- Unique innovation for investors to get eh benefit of dividend receiving through the IVESTOR Card. As per the resolution of Securities and Commodities Authority with no 28/R of 2010, this concept is initiated by DFM, mainly for the youth below age of 21, to encourage them for trading in DFM security market. The feature of this card is to get the dividend through this card instead of cheques. the instant credit in the card make the holder ready for further deployment funds at his wish instantly with any ATM all over the world with VISA or Plus features. E Services- The E Service is fast track web based solution backed by latest technology run by DFM for the clients like investors, issuers, brokers and custodians and vendors. In todays fast paced world, the service is required urgently with the click of mouse. The information and services required by the associates are to be provided in their fingertips with updated data for their decision making to make easy and instant. Operations: Being launched in 2000, DFM is steadily growing with its operations towards different area of activities related to stock exchange. The area of operations increase with the addition of products or services provided to the clients. The promotion of basic products of financial markets is the key reason to enhance operations in such a level so that it can satisfy the cliental base, in house and overseas. The total listing of 67 UAE based companies and a few dual listing companies of MENA region countries make DFM a substantially big stock market with national and international transactions to reach a high point. Looking towards 2020 Dubai Expo, the stock exchange is already in revamping its operations by the guideline of Chief Operating Officer. The business of stock exchange, like other businesses seldom experience crest and trough and DFM is no exception. Born in 2000, DFM first experienced the downfall in 2006 with 60% value drop. In the year 2006 November, DFM was converted to a pub lic joint stock company by issuing an IPO with selling 20% of its stock to public and 80% held by Borse Dubai, owned by Dubai Government. The mode operation enhanced as per the demand of the situation and now DFM proves its worth by applying the operation process in proper line excelling the performance. Rules and Regulations: As per the Decision no 3/R of 2000 concerning the regulations as to disclosure and transparency the Chairman of the board of Directors of the securities and commodities authority having considered Federal law no. 4 of 2000 concerning the Emirates Securities and Commodities Authority and Market, Council of Ministers Resolution no 193/18 of 13.03.2000 concerning the constituting of the Board of Directors of the authority, after consultation and coordination with the bodies concerned in the establishment of markets in the state, and pursuant to the resolution of the Authoritys Board of directors at its meeting held on 29.10.2000, has decided to approve the following regulations as to disclosure and transparency. The rules and regulations are covered by Articles with no. 1 to 38 stating the various aspects of law related to the stock exchange market as per the rule set by UAE Government. The rules basically reserve the right of the associates of the stock market along with ensuring the i nterest of the associates. The rule not allows any such loopholes through which any untoward advantages can be availed by any of the associates to make other respective associate to loss. The laws are governed by the Stock exchange authority of UAE and DFM strictly follow the law to ensure proper execution in the lawful manner. Benefits and usage: Benefits of Dubai Financial market is being observed by the investors and issuers along with the other associates like vendors, brokers, custodians and the employee of DFM. The taste of share transactions with the view of profits or loss makes the people of UAE aware of the trend of stock exchange. The local UAE companies have the benefit of local listing and the investors have the benefit of trading in local as well as international segment of share trading. The usage of DFM is to earn revenue on behalf of the Government and to monitor the transactions to have the clear idea of share trading locally or internationally. The booming business environment of UAE looking forward towards Dubai Expo 2020 is supported by DFM and the end result to all associates will be favorable.
Thursday, May 14, 2020
Business ethics is an important characteristic of any business since it confirms that the purposes of any firms are achieved in morally acceptable ways. It also certifies that firms perform their moral responsibility towards society. Throughout the past several years, many scandals have rocked the economy and hurt investor confidence. Accounting scandals have become a regular incidence in the American business landscape, which will most likely to haunt other business in the years to come. Since accounting is the basis of all financial reporting, an accounting scandal does not only affect a business butt it also makes the government to rethink about its reforms or introduce new laws to the investors to make the investment market more secure for them. One of the biggest accounting scandal which affected the entire accounting system and even enforced the SEC and the US government to introduce new reforms was Bernie Madoff Ponzi scheme; which have been regarded as the biggest Ponzi schem e in history. Bernie Madoff was an American investment adviser and stock broker who operated Madoff Investments in an unethically acceptable manner. He used the company as a front to commit a Ponzi scheme which swindled investors of over $65 billion; this is the largest Ponzi scheme ins history. It is believed that Madoff only stole $20 billion from principle investment; the rest of the money was Bernie imagination that he convinced his investors that their investment worth $65 billion. SeveralShow MoreRelatedOrganizational Culture, Management Philosophy And Ethics999 Words Ã |Ã 4 Pagesorganization; from operations, marketing, and, accounting. No matter the size, industry or level of profitability of an organization, business ethics are one of the most important aspects of long-term success. According to WebsterÃ¢â¬â¢s dictionary, ethics can be defined as the Ã¢â¬Å"rules of behavior based on ideas about what is morally good and badÃ¢â¬ these rules influence every aspect of our society (I nvestopedia, N.D.) (WebsterÃ¢â¬â¢s, N.D.). While sometimes overlooked, accounting plays a large role in many organizationsRead MoreMadoff1255 Words Ã |Ã 6 PagesAbstract This paper will include a review of the Madoff Securities case. The Madoff Securities case involved the cunning Bernard L. Madoff swindling his clients to believe that he could guarantee them high profits. Madoff is the largest Ponzi scheme in history. Madoff Securities Case Bernard L. Madoff started the investment firm Bernard L. Madoff Investment Securities (BLMIS). Bernard Madoff began trading securities from the 1960s. From as early asRead MorePonzi Scheme1146 Words Ã |Ã 5 PagesPonzi Scheme Keller Graduate School Forensics Accounting The Bernie Madoff scam truly made history. Bernie Madoff probably would not have been able to prolong this scam without the continued help of the Accounting Firm of Friehling amp; Horowitz CPAs PC, who at last reported purported to audit financial statements and disclosures of Madoff firm for the last 17 years. Ponzi schemed to help Madoff by trying to go undetected because of Friehling deceiving investors and regulators by declaringRead MoreItÃ¢â¬â¢s amazing the amount of financial scandals there has been happening during the past decade, most1200 Words Ã |Ã 5 PagesItÃ¢â¬â¢s amazing the amount of financial scandals there has been happening during the past decade, most of them from the financial banking system. Reckless management practices that try to lure the public with false statements in order to fill up their own pockets. Scandals such as, the Bernie Madoff with his ponzi scheme, The Libor Scandal with the fixed rates, as well as the famous scandal of the Lehman Brothe rs, all of them were great acts of corruption and unethical behavior, trying to abuse of theRead MoreAn Audit Of An Auditor2930 Words Ã |Ã 12 PagesWhen using managementÃ¢â¬â¢s statements, a user need to understand that the preparation of the financial statements requires management to make substantial accounting estimates and decisions, also in order to choose from among several alternative accounting principles and methods that are most appropriate within the guidelines of generally accepted accounting standards (GAAP). Role of an auditor The auditorÃ¢â¬â¢s role is different from the role of the management; the auditor is responsible for expressingRead MoreMadoff Scandal6132 Words Ã |Ã 25 PagesCareer 2 The Firm 3 Sales Strategy 4 Investment Strategy 5 The Scandal 7 He was not alone 9 The Markopolos Whistle 11 The collapse 13 Charges and Sentence 13 The Victims 14 2009 Ponzi Schemes 16 The SEC Failure 17 SEC post- Madoff 19 Hedge Fund Transparency 20 Conclusion 21 Bibliography 25 Tables Table 1: List of Madoff Clients (taken from the The New York Times, last updated June 24, 2009) 15 Table 2: 2009 Ponzi Scheme SEC Charges 17 Figures Figure 1 Fairfield Sentry vs GatewayRead MoreEssay on White Collar Crimes in America3039 Words Ã |Ã 13 Pagesprofessionals. These crimes are not victimless nor unnoticed. A single scandal can destroy a company and can lose investors millions of dollars. Today, fraud schemes are more sophisticated than ever, and through studying: Enron, LIBOR, Albert Wiggan and Chase National Bank, Lehman Brothers and Madoff, we find how the culprits started there deception, the aftermath of the scandal and what our country has done to prevent future scandals. In the 1920Ã¢â¬â¢s, Wall Street was a very different place than itRead MoreFinancial Fraud in Canada7212 Words Ã |Ã 29 PagesfraudÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦9 E-mail fraud/phishingÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦10 Identity theft and Title fraudÃ¢â¬ ¦Ã¢â¬ ¦...Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦...10 C) Investment Fraud: Ponzi SchemeÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..11 History of the Ponzi SchemeÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..11 Recent financial scandalsÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.......13 Ponzi Schemes and Market RegulationÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.14 Organized crime and financial crimes A) Organized Crime in CanadaÃ¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..15 B) Money launderingÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Read MoreThe Theory Of Corporate Criminal Liability Essay2567 Words Ã |Ã 11 Pagesconsequent upon such a criminal behavior. (i) Scandals of The Century: One of the earliest of the 20th CenturyÃ¢â¬â¢s financial rogues was Italian immigrant Charles Ponzi, who served prison term in Canada for forgery before setting up a business in Boston and London when he discovered he could buy international postal coupons abroad, then resell them in the United States for a higher price. In what was known as a Ã¢â¬ËPonzi schemeÃ¢â¬â¢ or a pyramid scheme, Ponzi pooled money from his initial investors, who madeRead MoreMadoff Scandal1822 Words Ã |Ã 8 PagesThe Madoff Scandal: 50 billion questions and few answers Table of Contents Abstract Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦3 Description of Events Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..4 Analysis of Scenario Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦4 Questions about Madoff Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..5 Solutions and Alternatives Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..7 Conclusion Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦...8 References Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦10 Abstract Bernie Madoff ran the biggest in the history of the world. The details
Wednesday, May 6, 2020
Rosetta Stone is a technology innovative company that operates in the education field. Their competitive advantage lies in the idea that they are able to use the strengths of a technology company and apply them in the educational landscape where the competition appears to be more traditional. Through research and experience, Rosetta Stone has created a unique product that can be used all around the world no matter of the level of the person. Their first goal is to market themselves as an innovator in the technological world. They do not want to narrow themselves solely as a language platform, but instead as a resources for people from all around the world that have the desire to learn a new language using a proven and effective approach. The main strategic idea that Rosetta Stone is trying to achieve is to change the way people learn. They need financing to reach more customers and show that their learning strategy is not only great for languages but also to learn anything else. Look ing at the financial forecast provided in the case, it appears too optimistic because the real decline in growth only happens at around 2012. Rosetta Stone being as successful as they are and going public soon will entice other companies to at least follow their lead and increase the competition in the technology and educational sector. This increased competition would cause revenue growth to decline at a faster rate than what management projects because similar companies would get into pricingShow MoreRelatedRosetta Stone : An Innovative Technology Company1602 Words Ã |Ã 7 PagesRosetta Stone is an innovative technology company that operates in the education field. Their competitive advantage lies in the idea that they are able to use the strengths of a technology company and apply them in the educational landscape where the competition appears to be more traditional. Through research and experience, Rosetta Stone has created a unique product that can be used all around the worl d no matter of the level of education of the person. Their first goal is to market themselvesRead MoreRosetta Stone: Pricing the 2009 Ipo Essay examples5283 Words Ã |Ã 22 PagesGoods Rosetta Stone Inc. RECOMMENDATION: BUY Stock Data Price (52 weeks) Symbol/Exchange Beta Shares Outstanding Average daily volume (3 month average) Current market cap(M) Current Price Valuation (per share) DCF Analysis Comparables Analysis Current Price Target Price Summary Financials 2009A ($M) Revenue Net Income Operating Cash Flow $252 $13.4 $41.1 $16.06- 32.97 RST / NYSE .65 19.9 287,505 $569 $26.25 $31.88 (50% weight) $37.10 (50%) $26.25 $34.49 CORPORATE SUMMARY Rosetta Stone Inc. (RST)Read MoreRosetta Stone8094 Words Ã |Ã 33 PagesUV3930 Rev. Mar. 25, 2011 ROSETTA STONE: PRICING THE 2009 IPO We are changing the way the world learns languages. Ã¢â¬âTom Adams It was mid-April 2009. Tom Adams, president and CEO of Rosetta Stone, Inc. (Rosetta Stone), the language learning software company, reached for his iPhone to contact Phil Clough of private equity fund ABS Capital. Adams and Clough had been discussing plans to take Rosetta Stone public for some time. The wait was finally over. In the wake of the 2008 financialRead MoreThe Use Of Technology Of Novice High English Learners1625 Words Ã |Ã 7 Pagesas Rosetta Stone, may be helpful in learning words, phrases and verb conjugations. However, they are not truly efficacious in terms of proficiency, which is defined as the ability to communicate appropriately with other speakers of the language. Consequently, there is a necessity to understand how learners approach such tools and what they believe they are gaining from the use of technology. For instance, one of the participants in LordÃ¢â¬â¢s (2015) study stated that, after completing the Rosetta StoneRead MoreThe Artifacts And Artifacts Of Pottery Of The East Coast Of Crete Near The Palace At Zakros Essay1342 Words Ã |Ã 6 Pagesformulate a direct correlation between the twoÃ¢â¬â¢s religion. The potential treasure-trove is found in the tablets and pottery. Linear A and Egyptians hieroglyphics lined the artifacts all ready found at the site. The possibility of finding more Ã¢â¬Å"Rosetta StoneÃ¢â¬ like artifacts like the vase could be the ultimate key to unlocking the mysteries of the Minoans. Through analyzing and deciphering the artifacts we can begin to translate Linear A. We could possibly translate more of the writings on Ã¢â¬Å"MinosÃ¢â¬â¢sRead MoreThe Software Development Process : Execution Strategy1895 Words Ã |Ã 8 PagesEnterprise Application Implementation Methodology (EAIM) for each development project that we pursue. Within our proposal our focus is detailing our EAIM, which most closely resembles the Waterfall Methodology. However, we always make it a point to thoroughly review the customerÃ¢â¬â¢s requirements in order to determine if a more agile approach is warranted and then we typically plan our implementation efforts accordingly. SoteraÃ¢â¬â¢s Project Management Office (PMO), is responsible for ensuring that a common bodyRead MoreFinal Project - Broadway Cafe4213 Words Ã |Ã 17 PagesFinal Project The Broadway CafÃ © By CIS500 Business Driven Information Systems Part 1: PorterÃ¢â¬â¢s Five-Force Analysis Broadway CafeÃ¢â¬â¢ since its inception in the neighborhood in 1952 has outgrown its place in terms of antiquated ways of doing business. It is in dire need of a face life and an extreme makeover, to say the least. Broadway Cafe is in a unique position to receive its makeover in the City of downtown Conway, and it appears that it will catchRead MoreFastcat Phase 14319 Words Ã |Ã 18 Pages. 6 Strategy Map ..................................................................................................................................... 7 External Environmental Analysis ........................................................................................................ 8 Internal Environmental Analysis ........................................................................................................ 8 Job Evaluation ......................................................Read MoreWal Mart Discrimination7044 Words Ã |Ã 29 PagesWorkplace,Business Ethics on evaluation of job ethical standards in Wal-Mart in South Carolina In Partial Fulfillment of Business Research and Project BUS 499 Nagliesha L Miles Supervisor: Dr. Mmutakaego Chukwuanu Allen University Date: December 8,2010 Table of content Table of Content...............................................................................................................2 Abstract...........................................................................Read MoreFuture Information Security Trends17051 Words Ã |Ã 69 PagesInformation Security Trends Kasi Research Project Tekes Safety and Security Research Program Final Report, March 11, 2011 Olli PitkÃ ¤nen, Risto Sarvas, Asko Lehmuskallio, Miska Simanainen, Vesa Kantola Helsinki Institute for Information Technology HIIT / Aalto University Mika Rautila, Arto Juhola, Heikki PentikÃ ¤inen VTT Technical Research Centre of Finland Ossi Kuittinen Sitra Executive Summary This report presents the major findings of the research project Kasi Ã¢â¬â Future Information Security Trends
Tuesday, May 5, 2020
Symbolism In # 8220 ; The Glass Menagerie # 8221 ; Essay, Research Paper Throughout # 8220 ; The Glass Menagerie # 8221 ; , Tennessee Williams utilizes a assortment of symbols. The symbols create innusual vibraphones that make the full drama. The symbols scope from the jonquils to the unicorn. The jonquils that are referred to from clip to clip throughout the play represent Amanda # 8217 ; s compulsion with her vernal yesteryear. # 8220 ; jonquils became an absolute compulsion # 8221 ; p. We will write a custom essay sample on Symbolism In 2 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 951. When Amanda is taken back to her vernal yearss she reminisces about her tonss of gentlemen companies. She ever speaks lovingly of her beauty and determine the 17 gentlemen companies she had one time received. # 8220 ; One 17 # 8211 ; gentlemen companies! # 8221 ; p.929, she says. The symbolism of the unicorn ironically simple. The unicorn symbolizes Laura. Laura is really different from normal immature females. She is confined in her ain small universe. The unicorn and Laura are parallel in that both stand out. Jim notices notices and recognizes the fact and states # 8220 ; Unicorns, aren # 8217 ; t they extinct in the modern universe? # 8221 ; p. 966. He besides says # 8220 ; You knows # 8211 ; you are # 8211 ; good # 8212 ; really different! # 8221 ; p.266 When Laura opens up to Jim her frights begin to vaporize. Because this metabolism occurs she becomes more like your norm or typical miss. When the unicorn interruptions Laura seems to be cognizant that alteration may be good. When she says to Jim # 8220 ; Maybe it # 8217 ; s a approval in disquise # 8221 ; p.966 her alteration becomes more evident. The hornless glass animate being is transformed into a normal glass figure when the unicorn interruptions. On p.966 Laura states # 8220 ; I # 8217 ; ll merely conceive of the horn was removed to do him experience less capricious # 8230 ; # 8221 ; besides allows the reader to cognize that when Laura dances and converse with Jim, she excessively feels less capricious. The scarf, image of Amanda # 8217 ; s hubby, and casket symbolize flight for Tom. The usage of the magicianÃ¢â¬â¢s scarf on Laura that changes Canary Islandss to goldfish and so forth is a feeble effort. The purposes and motivations are that Laura will be transformed into a productive, independent, and married single. Why? So, that Tom can go forth place with the confidence that she is good cared for and that Amanda is satisfied. Ã¢â¬Å"I mean that every bit shortly as Laura has got person to take attention of her, married, a place of her ain, independentÃ¢â¬âwhy, so youÃ¢â¬â¢ll be freeÃ¢â¬ ¦Ã¢â¬ p.942, says Amanda. Tom # 8217 ; s male parent, the telephone adult male, that preferred long distance, is thought of by Tom as a lucky adult male. Both of them are driven out of their marbless by Amand. Tom envies his male parent because he escaped without a hint. Tom, on the other manus, is fighting to go from his deranged female parent. He spends every waking dark at the films imbibing to comfort his defeats. Tom admits while indicating to his male parent # 8217 ; s image # 8220 ; Why, listen, if self is what I thought of, Mother, I # 8217 ; vitamin D be where he is # 8212 ; -gone! p.937 During one of his nightly jaunts, he stumbled across Malvolio the Magician. His fast ones were extremely alone in that he got out of a nailed casket without taking the nails. After geting place Tom provinces, # 8220 ; There is a fast one that would come in ready to hand for me # 8212 ; acquire me out of this 2 by 4 state of affairs! # 8221 ; p.938. He means that he wishes that his going was a clean get off, one that wouldn # 8217 ; t do anyone hurting. As can be seen by all of the predating statements, symbolism is so one of the foundations of this drama. in the discovering of the right readings, the procedure of guess led to commendation ; which either confirmed a point to be valid or contradicted it all together. # 8220 ; The Glass Menagerie # 8221 ; has dramatic hidden significances ( symbolism ) that allow each character # 8217 ; s inner battle to be profoundly felt by the reader.
Wednesday, April 8, 2020
Malaysia Malaysia Like many other countries, Malaysia has much history. The country's ancestors came to Malaysian area between 2500 and 1500 B.C. The earliest inhabitants are the Orang Asli of the Peninsula, Penan of Sarawak and the Rungus of Sabah. These people did and still live as nomads. The ancestors migrated from China and India. The next group of people to arrive to the country were the Malays. Many of these people were traders who later settled in Malaysia. Along with the immigrants, the religions of Hinduism, Buddhism, Islam also settled into the inhabitants. As years past, Europeans, including the Portuguese, Spaniards, Dutch, and British, conquered Malaysia, which ended up with Malaysia having its present-day states. The United Kingdom finally took control of Malaysia, colonizing it. Finally, on September 16, 1963, Malaysia became independent as a federation of Malaya, Singapore, Sabah, and Sarawalk. Later on, Singapore left the federation, becoming a separate nation. Malaysia has unique physical features. The Malaysia's area is 320,758 sq. km (127,320 sq. miles) and its land area is 328,550 sq. km; it is a little bit larger than New Mexico. About four-fifths of Malaysia are covered by tropical rain forest. Malaysia's highest peak is the Gunung Tahan, standing 2,187 meters tall (7,175ft) in Peninsular Malaysia. This peak is in one of Malaysia's most mountainous regions. The configuration of the country's land and heavy rainfall formed its many rivers. The longest rivers in Malaya are the Sungai Pahang and the Sungai Perak. The rivers of Sarawak and Sabah are longer than the ones in Malaya or Peninsula. The Rajang of Sarawak is the longest. Malaysia's Crocker Range lies in Sabah, having an average of 457 to 914 meters, dividing the lowland of the northwest coast from West Malaysia's interior. This mountain range ends on Malaysia's and Southeast Asia's highest mountain, Gunung Kinabalu (4,101 m). Sarawak's highest peak is the Gunung Murud. Climate h ere is tropical. This country has monsoons in the northeast (October to February) and southwest (April to October), which controls its climate. The average temperature throughout the year is 26 degrees Celsius, usually high since Malaysia lies in the equatorial zone. The basis of the country's economy was first based on its natural resources: tin, petroleum, timber, copper, iron ore, natural gas, and bauxite. Malaysia's economy industry includes its natural resources, along with electronics, textiles, and transportation equipment. The country's export crops include rubber, palm oil, timber, cocoa, and its food crops are rice, cassava, fish, corn, and sweet potatoes. Malaysia makes $72 billion out of its exports, and $72.2 billion from imports. Its partners in exports are Singapore (21%), USA (20%), Japan (12%), UK (4%), and Germany (3%). Its partners in imports are Japan (26%), USA (17%), Singapore (14%), Taiwan (5%), Germany (4%), UK (3%), and South Korea (3%). The Malaysian population is made up of the Malay and other natives (59%), Chinese (32%), and Indians (9%). The population of Malaysia is an estimate of 21,793,293 and has a population density of 170. The ethnic diversity governs the languages that are spoken in Malaysia and what its religions are. In Peninsular Malaysia, Malay, English, Tamil, and Chinese dialects are spoken. In Sabah, English, Malay, many tribal dialects, and Chinese (Mandarin and Hakka dialects) are spoken. English, Malay, Mandarin, and numerous tribal languages are spoken in Sarawak. Bahasa Melayu is the National Language, but is used only for official purposes. The Peninsular Malaysia's religions consist of Muslim (Malays), Buddhist (Chinese), and Hindu (Indians) beliefs. Sabah's religions include Muslim (38%), Christian (17%), and other religions (45%). Tribal religion (35%), Buddhist and Confucianist (24%), Muslim (20%), Christian (16%), and other religions (5%) make up Sarawak's religions. The type of governme nt is constitutional monarchy and is headed by the paramount ruler (king) and a bicameral Parliament. The Malaysian culture is different from others. Malaysian holds religious festivals. There are the Islamic Festivals, which are the Hari Raya Haji and Hari Taya Puasa. For the Chinese, there is Chinese New Year. A Buddhist festival is a holiday celebrating the birth of Buddha and is known as Wesak Day. The Hindu festivals are Deepavali, Thaipusam, and Thai Ponggal. The Christian Festival is Christmas. One last festival, the Sikh, include the birthday of Guru
Monday, March 9, 2020
Biography of George Pullman, Sleeping Rail Car Inventor George Mortimer Pullman (March 3, 1831Ã¢â¬âOct. 19, 1897) was a cabinet-maker turned building contractor turned industrialist who developed the Pullman sleeping car in 1857. Pullmans sleeper, designed for overnight passenger travel, was a sensation that revolutionized the railroad industry, replacing the uncomfortable sleeping cars that had been used on American railroads since the 1830s. But he paid a price in labor union animosity that followed him to his grave. Fast Facts: George M. Pullman Known For: Developing the Pullman railroad sleeper carBorn: March 3, 1831 in Brocton,Ã New YorkParents: James Pullman, Emily PullmanDied: Oct. 19, 1897 in Chicago, IllinoisSpouse: Harriett SangerChildren: Florence, Harriett, George Jr., Walter Sanger Early Life Pullman was the third of 10 children born to James and Emily Pullman in Brocton, New York. The family relocated to Albion, New York, in 1845 so that PullmanÃ¢â¬â¢s father, a carpenter, could work on theÃ Erie Canal. James Pullmans specialty was moving structures out of the way of the canal with jackscrews and another device he patented in 1841. Move to Chicago When James Pullman died in 1853, George Pullman took over the business. He won a contract with the state of New York the next year to move 20 buildings from the canals path. In 1857, Pullman opened a similar business inÃ Chicago, Illinois, where much help was needed in raising buildings above theÃ Lake MichiganÃ flood plain. PullmanÃ¢â¬â¢s company was one of several hired to lift multistory buildings and whole city blocks by four to six feet. Ten years after he moved to Chicago, he married Harriett Sanger. They had four children: Florence, Harriett, and twins George Jr., and Walter Sanger. Working on the Railroad Pullman realized that new buildings with better foundations would reduce the citys need for his services and decided to go into manufacturing and leasing railroad cars. The railroad system was booming, and although the greatest need was for transporting raw materials and finished goods, he had a different idea. He frequently traveled by railroad in pursuit of business but found regular cars to be uncomfortable and dirty. The sleeping cars were just as unsatisfactory, with cramped beds and poor ventilation. He decided to focus on the passenger experience. Partnering withÃ Benjamin Field, a friend and former New York state senator, he decided to build a sleeper that was not just comfortable. He wanted luxury. He persuaded the Chicago, Alton, and St. Louis Railroad to let him convert two of its cars. The Pullman Sleepers debuted in AugustÃ 1859 and were a roaring success, with reviewers comparing them to luxuryÃ steamboatÃ cabins. Pullman briefly succumbed to gold fever, relocating to Colorado and catering to miners before returning to Chicago in the 1860s. He devoted himself to making the sleepers even more luxurious. A Better Sleeper The first made-from-scratch Pullman- the Ã¢â¬Å"Pioneer,Ã¢â¬ developed with Field- debuted in 1865. It had folding upper berths and seat cushions that could be extended to make lower berths. The cars were expensive, but they gained national attention and increased demand when several of them were included in the train that took Abraham LincolnÃ¢â¬â¢s body from Washington, D.C., back toÃ Springfield,Ã Illinois, following his assassination in 1865. (The slain presidentÃ¢â¬â¢s son,Ã Robert Todd Lincoln,Ã succeeded Pullman as president of the Pullman Co. after Pullmans death in 1897, serving until 1911.) In 1867, Pullman and Field dissolved their partnership and Pullman became president of the newÃ Pullman Palace Car Co. In 12 years the company was offering 464 cars for lease. The new company also manufactured and sold freight, passenger, refrigerator, street, and elevated cars. As the railroad industry continued to develop and Pullman prospered, he paid $8 million in 1880 for construction of the town of Pullman, Illinois, on 3,000 acres adjacent to his factory west of Lake Calumet. It provided housing, shops, and other amenities for his company employees at all income levels. Union Strike Pullman, which eventually became a neighborhood of Chicago, was the site of a vicious labor strike beginning in May 1894. Over the previous nine months, the Pullman factory had reduced its workers wages but did not lower the cost of living in its houses. Pullman workers joined labor organizer and American socialist leader Eugene Debs American Railroad Union (ARU) in the spring of 1894 and shut down the factory with a strike on May 11. When management refused to deal with the ARU, the union prompted a nationwide boycott of Pullman cars on June 21. Other groups within the ARU started sympathy strikes on behalf of the Pullman workers in an attempt to paralyze the nations railroad industry. The U.S. Army was called into the dispute on July 3, and the arrival of soldiers sparked widespread violence and looting in Pullman and Chicago. The strike unofficially ended four days later when Debs and other union leaders were jailed. The Pullman factory reopened in August and denied local union leaders an opportunity to return to their jobs. Following the strike, the Pullman Co. continued to thrive. While his factory maintained production of railroad sleeping cars, Pullman also ran the company that built the elevated railway system inÃ New York City. Death Pullman died of aÃ heart attackÃ on Oct. 19, 1897, at the age of 66. The bitter strike left Pullman reviled by the labor movement. So deep was the lingering animosity and fear that, to ward off vandalism or desecration of his body, Pullman was buried in a lead-lined coffin inside an elaborately reinforced, steel-and-concrete vault with walls that were 18 inches thick. Over this were laid steel rails placed at right angles to each other and bolted together. Everything was then covered in tons of concrete. The pit dug for the elaborate vault was the size of an average room. Legacy The Pullman Co. merged with the Standard Steel Car Co. in 1930 and became the Pullman-Standard Co. In 1982, the company built its last car forÃ Amtrak, and soon afterward the company faded away. By 1987, the assets had been sold off. Pullman transformed the railroad sleeping car from a smelly, cramped mess into rolling luxury, making overnight train travel more appealing to those who could afford it. He created an enormous business that made his name synonymous with a major component of the railroad industry. Sources George M. Pullman: American Industrialist and Inventor. Enclopedia Britannica.George Mortimer Pullman. Pullman-Museum.org.
Friday, February 21, 2020
A study of Relationship Among Visitor's Experience, Travelling Motivation, Destination Image, Service Quality, Satisfaction an - Dissertation Example Hence, it has become a great concern for parents to spend quality time with their children and undertake meaningful cooperative activities. In addition, proper leisure time management and conveniences of air and sea transport, family tours have become more popular in recent times. According to the World Travel and Tourism Council, WTTC, Asia Pacific Economic Cooperation and APEC data, tourism travelling encompasses activities such as restaurants, leisure entertainment, transportation, accommodation and travelling service, implying that tourism is indeed made up of big enterprises, which bring about a lot of economic effects (Kotler & Keller, 2011) Evidently, in modern times, people spend quite huge portions of their income and time traveling to destination and undertake activities such as sightseeing with their preschool age children, whose parents always take to theme parks around the world. According to World Travel and Tourism CouncilÃ¢â¬â¢s 2013 Annual Statistical Repost on Tou rism, the average number of trips per person during the year 2012 was 5.12, an increase of 0.66 trips from the 4.46 average of 2011 and 2012 respectively (Kotler & Keller, 2011 ). ... inment, education, unanticipated and happy whole-family experiences for children, parents and grandparents, which make entire families to have a good time at the park. In addition, Janfusun FancyworldÃ¢â¬â¢s establishment, history, environment and activities therein also offer unique services for each person and for each special festival such as Halloween, Christmas, New Year, FatherÃ¢â¬â¢s Day, MotherÃ¢â¬â¢s Day and Easter Day among other holidays and occasions. These are some of the reasons parents, preschool children and other members of families opt for Janfusun Fancyworld as their first-choice destination. In addition to these factors, the rapid increase in internet accessibility and use and emerging marketing concepts and applications have, consumer-oriented and customer-centered markets have also worked in favour Janfusun Fancyworld. To this effect, Janfusun Fancyworld, places emphasis on customer experience, customer value and satisfaction and high quality in its market ing strategies. Janfusun Fancyworld has also exploited the current advances in information technology to improve on creativity, aesthetics, sensibility, intellectuality and participative entertainment and recreational activities. Like other tourism destinations, Janfusun Fancyworld must prioritise strategies to establish and retain consumer satisfaction through quality and diverse services since a thorough understanding of customer service provision and satisfaction have profound effects on consumersÃ¢â¬â¢ perceptions on quality, value and satisfaction level is rather integral to modern tourism. CustomersÃ¢â¬â¢ satisfaction and their intention to revisit are perhaps the most important cornerstones in the tourism industry that any tourist destination intending to remain viable ought not to overlook (Peppers &