Modern Database Managment Assignment Three Essay

Modern Database Managment Assignment Three - Essay Example Furthermore, the volume/size of a database can differ extensively from a few megabytes for personal databases to huge terabytes of large business databases. The data and information of a business or personal database is stored on a nonvolatile medium that can hold huge amounts of data. However, the most frequently utilized storage mediums are magnetic disks. Magnetic disks are capable to store huge amount of data as compared to computer memory, at a great deal lower cost per unit of data. For data organization, logically data in RDBMS are structured like a group of relations/tables, each table/relation composed of a group of records (Hoffer, Prescot, & Topi, 2009; Shelly, Cashman, & Vermaat, 2005). DDC (Data Definition Command) is utilized to describe the database as well as other linked functions similar to creating views, tables, indexes etc. Below I will outline some data definition commands (Hoffer, Prescot, & Topi, 2009): Data control commands in SQL allow us to control access to data inside the database. These data control commands are usually employed to create objects and to control the allocation of privileges among users. A number of data control commands are (Hoffer, Prescot, & Topi, 2009): A View contains a stored query which is accessible like a virtual table composed of resultant group of a query. As compared to ordinary tables in a RDBMS a view is not a structured part of the physical representation. It is a dynamic, virtual table calculated or gathered from data in the database. Altering the data in a table changes the data represented in subsequent invocations of the view. Security in views can be applied for the users as the underlying tables are not straightly accessible. Thus, it helps DBA present users simply the data they require, as protecting additional data in the same table (Hoffer, Prescot, & Topi, 2009). To create a view

Using surveys to conduct research Essay Example for Free

Using surveys to conduct research Essay What are the advantages and disadvantages of using surveys to conduct research?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Surveys have been used as methods of collecting data for as long as can be remembered.   In practically all scientific fields, surveys have proven invaluable in obtaining data that would otherwise be impossible to gather.   As a method of determining certain behavioral aspects of society and man, surveys have also proven to be beneficial to all research in that field.   Yet as with everything in this world, there will always be advantages and disadvantages.    This short discourse will outline the advantages and disadvantages of using surveys to conduct research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   First of all, the advantage of having a survey is that it allows the researcher to gather more date in a shorter amount of time.   The questions in a survey are able to address a multitude of issues that would require a researcher more amount of time in lieu of a survey.   Aside from the ability to allow access to more information, surveys can be specifically designed to elicit objective responses. This lends to its value in highly quantitative research that deals with hard data instead of non-quantifiable aspects.   In short, surveys are advantageous because they allow the researcher to obtain the information that is required much faster and more efficiently than other sources.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The problem with surveys, however, is that it is difficult to construct an accurate survey that removes biases or false data.   Surveys are prone to providing the wrong information.   Another problem of surveys lies in the fact that it is not as accurate when gathering qualitative aspects or figures.   Opinions or sentiments are very hard to capture and quantify in surveys.   As such, as a method of conducting research, depending on the subject matter involved, surveys can be very disadvantageous.   Surveys may not always represent the mean of every sample.   Surveys must be given accurately in order to obtain an approximate cross section of the sample used.   The disadvantage, therefore, lies in making an accurate survey that will lead to the correct data.

Sanofi-Aventis Business Strategy

Sanofi-Aventis Business Strategy Question 1 Introduction According to analysts, the pharmaceutical industry is changing rapidly and undergoing a shift. Sanofi-Aventis are therefore changing its strategy to help transform itself from a Europe/US-centred pharmaceutical company to a global diversified healthcare company. These changes include a change in its products, markets, top management and its capabilities. This essay aims to discuss the environment within which Sanofi-Aventis is operating, identifying the reasons why the company need to change its strategy and how it will achieve this. Harrigan (1980) and DAveni (1989) showed that when performance is declining or poor, organisations tend to principally alter their activities. This is the case with Sanofi-Aventis, it is running like a French national treasure and performance is declining in the rapidly changing pharmaceutical industry. The Strategic Position of Sanofi-Aventis Porters five forces framework (1980) can help to identify the attractiveness of an industry for a firm by drawing attention to the external pressures it may face. Figure 1 shows that buyers in the industry have a low bargaining power. The major consumers of the industry include doctors, hospitals, patients and pharmacists. Buyer power is dependent on factors such as the number of buyers, switching costs and buyer competition threat. The industry has many buyers and the competition usually takes place between them. Thus the power of buyers in terms of the number of buyers is reasonably small. However buyers are able to choose from other similar products. To avoid this problem organisations within the industry usually spend most of their research and development on new patent drugs to keep up competition. The suppliers within the industry have a certain level of power but it is not such a high threat. The suppliers could include providers of raw materials and intermediates, the manufac turing and production plants and labour. The suppliers provide different levels of threat and cannot easily be changed in this industry, even if suppliers refuse to supply. Thus there are high switching costs for companies within this industry. However, the threat from suppliers in this industry is not much bigger than that in other industries. In the pharmaceutical industry, there is a high barrier to entry. This is due to the high costs which are required to enter the industry. There are high RD costs because the research and development of new drugs is time consuming and costly. There is also heavy regulation of the industry where drugs need to be approved, as well as patent restrictions. Patents are a high barrier for organisations who are trying to enter the market. Organisations already existing within this market have already established a strong brand name with loyal customers and have a large budget to spend on marketing to continuously support their brand. New companies th erefore find it difficult to build up a brand name. The main substitutes for products in the pharmaceutical industry are generic brands of medication. The price of brand name medicines is kept competitive with generic brands. However, there is not always a generic medicine available as a substitute due to patents. Other substitutes include methods such as Ayurveda, traditional Chinese medicine, hypnosis, diet-based therapies, chiropractic care and Reiki. In terms of competition, the industry is very competitive. With high RD cost, strict government regulations and extremely competitive products in the market, companies are constantly trying to release the next best product so that they can stay ahead. Advances in technology are also another factor affecting competition because it opens new avenues for research. Companies are dependent on the long run success of their ideas which puts a lot of pressure on them to find drugs which have high pay-offs. It is common for firms in the indu stry to merge together to gain competitive strength so that it can take on the leaders of the industry. In this industry the competition is such that only the strongest firms will survive. By analysing the five forces for this industry, it can help to determine what problems Sanofi-Aventis may incur. The barrier to entry into the industry will be high which works in the favour of Sanofi-Aventis. In terms of buyers and suppliers, these are low. The substitutes are also fairly low until the patents expire between 2009 and 2013. The power of substitutes will then increase along with rivalry and the bargaining power of buyers as buyers will switch to generic drugs. This will result in a reduction of costs of the drugs and profitability. In terms of PESTEL analysis, this legal factor of the patents is a key driver for change because it is enforcing a threat on the company. Companies within this industry have opted for mega-mergers. This could be another threat to the company as these companies have more competitive strength. Sanofi-Aventis need to overcome these problems by differentiating its products and the company itself for the existing markets as well as for new marke ts. This suggests that a transformation of the companys strategy is required for them to exist in the changing industry which will align them with the changing environment. The company have already a #1 position in emerging markets, so they have an opportunity to exploit this in order to overcome some of these threats and gain a sustainable competitive advantage. The company also need to take into account the other main influences on its strategy. These influences can help determine what threats the company has and how the strategy should be changed so that it can overcome some of these issues. The culture of the company can have a major impact because the company can be confined by that culture making it difficult to change outside the bounds of it. Sanofi-Aventis was being run like a French national treasure. This shows that the company is too rigid and too traditional. Johnson (1992) suggests that changes going on within or without the organisation will affect organisational performance. However, even if managers, as individuals, perceive such changes they may not necessarily acknowledge them as impinging on the strategy or performance of the organisation. Sanofi-Aventis had this problem as the management had acknowledged that the environment was changing but were not changing its strategy greatly to be in line with this. To rise above thi s issue the company have brought in a non-french manager Christopher A. Viehbacher, which has helped to show analysts and investors that the company will not be run like a French national treasure and that the company have changed their attitude. This suggests that the company will not be based on its past ways of doing things and the lessons learnt from the evolving environment of the organisation, as this has not been successful in the rapidly changing pharmaceutical industry. This shows that Sanofi-Aventis have tried to change its culture so that it avoids the problem of strategic drift resulting from focusing on the existing culture when dealing with the changing environment. This is a change in the companys power structure. The company have also changed its organisational structure by changing the management team and by creating customer-focused teams. Looking at Johnsons (1987) cultural web, it can be seen that the company are changing two factors (Appendix 1), which will help Sanofi-Aventis to transform its strategy more easily. The strategic capabilities of the company provide a view of the internal influences on strategic choices for the future. The competences and resources which are distinctive or superior relative to those of rivals may become the basis for competitive advantage if they are matched appropriately to environmental opportunities (Andrews, 1971; Thompson and Strickland, 1990). In terms of Sanofi-Aventis, the threshold level has changed over time and so the company need to invest in its resource base so that it can stay in this industry and gain a competitive advantage. They have an opportunity to exploit its #1 position in emerging markets, so they are creating new strategic capabilities to achieve this by having a better position in emerging markets, adapting its RD efforts to new regulatory and economic constraints and making disciplined decisions about how the company should grow and through what activities for example diversifying into vaccines, OTCs and biologics and not to opt in mega -mergers like all the other companies within the industry. Instead they are going ahead with bolt-on acquisitions as this will add more value to the company. This shows that Sanofi-Aventis have acknowledged that for them to survive they need to differentiate itself from other organisations within the industry and this can be achieved by exploiting its opportunities. The stakeholders play an important role as the strategy of the company needs to take into consideration their interests. Sanofi-Aventis have failed to do this, which has resulted in investors reducing their stake in the company. Sanofi-Aventis need to adapt its strategy so that it takes into consideration the interests of its stakeholders. However the companys stakeholders are changing as they enter into new partnerships and change its management team. These stakeholders will be focused on the external stakeholders (the customers) and so the company need to fulfil the customers needs in order to take into consideration the internal stakeholders interests. The strategic choices and actions Sanofi-Aventis are taking Sanofi-Aventis are responding to these pressures by making choices about the companys future. At a corporate level, Sanofi-Aventis are launching new products such as vaccines, OTCs, diabetes drugs and branded generics and offering them to emerging markets as well as existing markets. This in terms of Ansoffs Matrix (1957) can be seen as diversification at an international level and product development at a national level (Appendix 2). Although the company is providing the existing market with new products such as vaccines to give them a pre-eminent position, major rivals such as Novartis, GSK and Pfizer are closing the gap. Sanofi-Aventis therefore need to continue to focus on the RD of its products to sustain this position. By producing new drugs, the company are trying to fulfil its external stakeholders needs, which in turn takes into consideration the internal stakeholders. At a business level, Porter (1985) provides a framework of generic strategies and suggests that they are distinct mutually exclusive alternatives. However the idea that the generic strategies are mutually exclusive has been criticized (Hill, 1988; Murray, 1988), and studies have shown that mixed or hybrid strategies may be profitable (Miller Dess, 1993). By looking at Bowmans strategy clock (1996), it can be seen that the company are going against Porter and are taking up a hybrid strategy in its existing markets which involves having a low cost base and differentiating its products (Appendix 3). They are trying to develop products that are better than that of its competitors by posing the question ‘why is the drug better than what theyve already got? If this question cannot be answered then the product does not add any extra value for the customer compared to its competitors products and the product does not become a part of the companys product portfolio. In new markets that have fewer economic resources the company are taking up a low frills strategy which involves producing cheap goods with low added value. In terms of Porters generic strategies, the choice of taking up a hybrid strategy can be seen as a differentiation strategy as well as a cost leadership strategy (Appendix 4). By differentiating its products, the company are trying to produce goods which its customers will value so that it can overcome the threat that is enforced from the patent expiries. The way in which differentiation is achieved can be seen by Porters (1985) value chain (Appendix 5). Value is built on the activities that are a part of creating the product, whilst sometimes reducing costs in these activities. For example, the company are trying to achieve this by restructuring its RD as it was costly and unproductive and reduce its operating costs. This makes the product unique compared to those of competitors. These value added products can be charged at premium prices to help achieve higher profitability. This will help make up for the loss of revenues from the patent expiries. The company have chosen to pursue its strategy through organic development, which has also led to the decision of pursuing its strategy through acquisitions. The company are strengthening its capabilities, one of which is the ability to make effective decision which has therefore led to the company taking on acquisitions. The reason behind these choices is because it will allow the company to add value to its products. These are carefully thought out decisions that the company are undertaking so that they have a competitive advantage. When observing how Sanofi-Aventis are changing its strategy to help it to become a global diversified healthcare company, it can be seen that the strategy is an intended one. This is because Viehbacher entered the company having ideas about how the strategy would be changed. The design lens can be used to explain this strategy because Viehbacher has been in charge of making all the strategic decisions, ‘Dehecq, who had long been considered as the driving force behind Sanofi-Aventis, was conspicuous by his absence at these meets. This led to analysts opining that Viehbacher was in sole charge of strategy. The change that the company are seeing is a result of implementing the planned strategy that Viehbacher had when he joined the company. Conclusion Sanofi-Aventis are under-going a transformational change in a short period of time. They have been able to achieve this by first considering the influences on the companys strategy such as its environment, its culture, its strategic capabilities and its stakeholders. These create opportunities and threats for the company and so by looking at these the company have been able to make strategic choices to help them to decide which direction to move their strategy towards and the methods by which this is to be done to help them to overcome some of the problems that they are facing. Question 2 Introduction In the future, the company needs to create a more sustainable growth. Sanofi-Aventis are changing its strategy to deal with the market pressures and demands while focusing on its main activities and developing strategic capabilities. The company need to utilise its resources and competences in such a way so that it can sustain growth and gain a competitive advantage over other key players in the pharmaceutical industry. Viehbacher was aware of this when he first joined the company and questioned ‘How can we change the model? How can we create more sustainable growth? For Viehbacher to be successful in achieving this he had to first identify the resources and competencies the company would need to grow and then decide how these would be developed and utilised efficiently. The resource-based model states that the competitive advantage and superior performance of an organisation is explained by the distinctiveness of its capabilities. Peteraf (1993) explains that the resource-based model can help to understand the long-lasting differences in the profitability of the firm, which cannot be attributed to variations in industry conditions. Wernerfelt (1984) states the model shows that the competitive advantage of a firm lies primarily in the application of the bundle of valuable resources at the firms disposal. Barney (1991) suggests that the resources have to be valuable, rare, inimitable and non-substitutable because then the competitors will not be able to mimic the companys strategy. This can help to explain the heterogeneity or firm-level differences among companies that allow them to sustain competitive advantage. Sanofi-Aventis is in the exploration stage and so during the transformation they are experimenting with new alternatives that will help the company to gain this competitive advantage. One of the major reasons why the company have to do this is because the main resource that they rely on; the patents, are soon to expire. Also in an emerging market the company needs better, more refined resources to compete with. Johnson et al (2008) suggest that for a company to have strategic capabilities and competitive advantage they need to have the necessary resources and threshold competences, which competitors may have or can easily imitate, as well as unique resources and core competences which are better than the competitors or difficult for the competitors to imitate (appendix 6). Viehbacher became CEO of Sanofi-Aventis in December 2008. The experience of working at GSK for 20 years and the knowledge that he has brought to the company is unique and difficult for competitors to gain. His way of thinking and style of leadership is helping the company to transform itself because it varies from the companys old leadership which was like a French national treasure. Thus it can be seen that Viehbacher is developing a new culture for the company by changing the power structure. This will allow any new CEO joining the company, if Viehbacher leaves, to be able to continuously align the companys strategy wit h the changing environment through incremental change by building on the familiar. The company will also be able to develop dynamic capabilities if the environments changes which is mostly likely to be the case. The rapid changes in the industry have meant that for Sanofi-Aventis to be a more competitive organisation, a change in the companys structure is needed. Thus Viehbacher has put a new team in place after joining the company. Only Jean-Francois Dehecq remains chairman and two of the top management team, namely, Marc Cluzel (head of RD) and Hanspeter Spek (head of pharma operations) continue to hold their positions. Laurence Debroux has been promoted as chief strategic officer (in charge of MAs) and Jean-Pierre Lehner as chief medical officer (in charge of drug safety). Elias Zerhouni has been brought in as scientific advisor, Jerome Contamine as the CFO and Paul Chew as chief medical/science officer. By making this change in structure, Viehbacher is further developing the culture of the organisation. His team together have the knowledge and expertise in different areas, which will allow the company to grow as they will be adding value to the different activities of the company. With a stronger management team, the companys future can be and will continue to be shaped allowing it to be more customer orientated. However the team will need to bring new ideas to the company in order for this to happen. The company were the thirds largest pharmaceutical company as of 2009 but it had a costly and unproductive RD pipeline. The transformation of the companys strategy entails restructuring the RD organisation so that it is productive and in sync with patients needs. The company are changing to a company that is based on biotech and specialist-driven therapies research. The RD of the company is a core competence that Viehbacher is creating. It is helping the company to meet the demands of the rapidly changing pharmaceutical environment by shifting its efforts to new regulatory and economic constraints. By moving away from blockbuster drugs, the company can concentrate on medicines that add value for the customers. It is important for Sanofi-Aventis to keep the customers in mind as they will have a major effect on the success of the business. By meeting their needs, the company can create customer loyalty which will provide the company with a steady income. The new approach to RD is allow ing the company to enter into new partnerships to boost its base business. This is an opportunity for the company to try to overcome to some extent the threats that will occur from the patents expiring. These threats include the increase in substitutes and rivalry. If they can achieve this through their new RD approach, this will help the company to achieve growth in the future. Viehbacher was quick to note that Sanofi-Aventis was the #1 pharmaceutical company in emerging markets. This is because they have the ability to make efficient and effective decisions, as well as being able to move quick, ‘everybody says they want to go there, but were already there. Were in business while other companies are still trying to find their way from the airport to the hotel. This is a core competence that the company has, thus as new markets emerge in the future the company need to uphold this status. This is possible for the company to accomplish if they continue to focus on global public health issues and not the traditional markets that are becoming saturated. They also need to continue to act fast as they have done when moving into emerging markets such as Africa, India and China. The market the company was catering to was diverse, so they are moving towards branded generics, consumer healthcare and vaccines to create the basis for more sustainable growth. Viehb acher pointed out that the company was in a strong financial position generating à ¢Ã¢â‚¬Å¡Ã‚ ¬4 billion in cash each year. This capital can be used to invest in RD, which will help the company to grow and strengthen its position in emerging markets as it finds new healthcare businesses and products to diversify into. Using the companys finance, respectable reputation and ability to expand into emerging markets, it will allow the company to compensate from the patent expiries of its top-selling drugs and make larger capital gains in the future. Sanofi-Aventis have the ability to make logical decisions with the help of their CEO. For example they have decided not to be part of any mega-mergers as this would sap the organisations creativity and productivity. By opting for a mega-merger, the company would not be adding to shareholder value, so Viehbacher felt it was not necessary to do so. The capability to make these decisions has come from Viehbachers experience where he has been a part of two mega-mergers in the past. Instead of the mega-mergers Viehbacher has decided to go ahead with bolt-on acquisitions. The five acquisitions the company have taken up has given the company opportunities to tap markets such as the Central and Eastern markets, boost its presences in countries and the OTC business and provided it with a launching pad for the Asia-Pacific region. It has also given a push to its vaccines segment. These acquisitions are helping to fuel its growth in emerging markets whilst reducing its risk profile. In the futu re, the company need to maintain making disciplined decisions about the acquisitions that it takes on, only investing in those that add value. The company should be able to maintain this because Sanofi-Synthà ©labo acquired Aventis and both companies had a history of mergers and acquisitions. By taking on acquisitions, the company can also increase its customer base quicker than with mergers because the company can take on more than one acquisition at a time. Conclusion Sanofi-Aventis are carefully designing their strategy to allow them to have a competitive advantage. They are creating core competences and resources to aid them to survive and compete in the emerging pharmaceutical market. The resource-based model has facilitated the understanding of how Sanofi-Aventis is able to enter the new market and how it can in the future strengthen its position in this market. It is possible for the company to have sustainable growth and a competitive advantage, but they need to utilise its resources successfully in order to achieve this. However if in the future the needs of the environment change, Sanofi-Aventis will need dynamic capabilities to achieve a competitive advantage. Although Viehbacher is creating resources and core competences when transforming the companys strategy, these may need to be renewed and recreated because in more dynamic conditions competitive advantage is achieved when there is a capacity for change, learning and innovation.

Jamaican Sugar Plantations Essay -- Jamaica Sugar Essays History

Jamaican Sugar Plantations When beginning to discuss sugar plantations in Jamaica, the word slavery comes to mind. This thought occurs because of the crucial role that the slaves played in attempting to make these plantations successful. During the 18th century, "the so-called sugar colonies were the most valuable possessions of overseas empires" (Floyd, 38). Sugar plantations produced money for not only the economy of Jamaica, but for their motherland England as well. Essentially these plantations were created because the aristocrats in Europe needed something to sweeten all of their drinks. However, with lack of space in Europe, the wealthy decided that plantations would flourish in Jamaica. Despite the success of these plantations, they were tools used to discriminate and exploit African-Americans. When the abolition of slavery occurred in Jamaica, the role of the sugar plantation significantly declined. One can say that sugar plantations in Jamaica were mass industries that were designed to belittle the Af ricans and give them little chance at success. The island of Jamaica is roughly 4400 square miles and its size rivals that of Connecticut. "Most of the island comprises a rugged and highly dissected topography, with steeply sloping hills and sharply twisting valleys" (Floyd, vii). With this rugged terrain, it seems to be quite ironic that nearly half of the population lives off the land. The Jamaicans rely on exceptional soil, a good irrigation system and fertilizer to ensure that their most prosperous crops will flourish. Sugar is among these resources that has helped create a stable economy in Jamaica. Jamaica established itself as a leading sugar producer in the 18th century after they decided that they had ... ...ound to become broken down. With the harsh realities slaves faced everyday, it was inevitable that its collapse would come. Nonetheless, sugar cane production was able to produce a stable economy in Jamaica for several years and ultimately led to the success of an entire nation. Bibliography Beckles, Hilary. Caribbean Slave Society and Economy. The New Press: New York, 1993. Cliff, Michele. Abeng. Penguin Books: New York, 1984. Floyd, Barry. Jamaica An Island Microcosm. St. Martin’s Press: New York, 1979. Hall, Douglas. In Miserable Slavery. MacMillan Publishers:London, 1989. Holt, Thomas. The Problem of Freedom. Hopkins Press:London, 1992. Knight, Franklin. The Caribbean: Second Edition. Oxford University Press: New York, 1990. Tomich, Dale. Slavery in The Curcuit of Sugar. Johns Hopkins University Press: Baltimore, 1990.

First Keystone Bank Essay

1. Prepare a list of internal control procedures that banks and other financial institutions have implemented, or should implement, for their ATM operations. Financial institutions should implemented the following internal control procedures. The first one is Risk Assessment, which means financial institutions’ management should identifies, analyzes, and manages risks that can affect the company. The second one is Control Environment, this procedure require management of the institutions attitude toward, awareness of, and actions concerning the internal control structure to in order to reduce the fraud and error. The third one is Control Activities, which means that institutions’ management should enact specific policies and procedures to achieve the management objectives. What’s more, they should take necessary procedures to target the risks. The forth step is information and communications. Institutions should gather all necessary information to carry out internal controls. Providing, sharing and obtaining information is also very important, which is called communication. The last step is Monitoring. Which is an ongoing process to evaluate controls and determine whether all the operations are as intended. They changed when operating conditions change. 2. What general conditions or factors influence the audit approach or strategy applied to a bank client’s ATM operations by its independent auditors? The auditor should consider the nature, timing, and extent of further audit procedures to make decision. The nature of an audit procedure include its purpose and its type. So the purpose and the type of an audit procedure will influence the audit approach. The purpose of audit procedure determines whether it is a risk assessment procedure, a test of controls, or a substantive procedure. The types of audit procedures include inspection of  documentation, inspection of assets, observation , external confirmation, recalculation, reperformance, analytical procedure, scanning, and inquiry. Timing refers to when audit procedures are performed or the period or data to which the audit evidence applies. The higher the risk of material misstatement, the more likely it is that the auditor may decide it is more effective to perform substantive procedures nearer to the period end rather than at an earlier date. On the other hand performing audit procedures before the period end may assist the auditor in identifying significant matters at an early stage of the audit. Extent refers to the quantity of a specific audit procedure to be preformed. The extent of audit procedure is determined by the judgment of the auditor after considering the tolerable misstatement, the assessed risk of material misstatement, and the degree of assurance the auditor plans to obtain. 3. Identify specific audit procedures that may be applied to ATM operations. Which, if any, of these procedures might have resulted in the discovery of the embezzlement scheme at First Keystone’s Swarthmore branch? Explain. Inspection of documentation, observation, recalculation, analytical procedures, scanning, and inquiry may be applied to ATM operations. I think the following procedures can resulted in the discovery of the embezzlement scheme. The first one is inspection of documentation. Auditors can examine a client document and compare it with the exact money they save and take out from the ATM. The second one is observation. Looking the procedure of using the ATM to make sure whether it is used with authority. The third one is analytical procedures. Auditors can analyzing plausible relationships among both financial and nonfinancial data of the ATM. The forth one is scanning. Performing a type of analytical procedure which involves reviewing accounting data to identify unusual items. For example, the amount of money that put in the ATM is not match the money that actually take out by customers.

Impact of the Common Core Standards

Impact of the Common Core Standards The Common Core Standards will be fully implemented beginning in 2014-2015. So far there are only five states that have chosen not to adopt these standards including Alaska, Minnesota, Nebraska, Texas, Virginia. The impact of the Common Core Standards will loom large as this is perhaps the biggest shift in educational philosophy in the history of the United States. Much of the population will be significantly impacted by the implementation of the Common Core Standards in one form or another. Here, we look into how different groups may be affected by the upcoming Common Core Standards. Administrators In sports, it has been said that the coach gets too much praise for winning and too much criticism for losing. This will likely hold true for superintendents and school principals when it comes to the Common Core Standards. In an era of high stakes testing, the stakes will never be higher than they will be with the Common Core. The responsibility of that school’s success or failure with the Common Core Standards ultimately falls back on its leadership. It is essential that administrators know what they are dealing with when it comes to the Common Core Standards. They need to have a plan for success in place that includes providing rich professional development opportunities for teachers, being logistically prepared in areas such as technology and curriculum, and they must find ways to get the community to embrace the importance of the Common Core. Those administrators who do not prepare for the Common Core Standards could end up losing their job if their students do not perform adequately. Teachers (Core Subjects) Perhaps no group will feel the pressures of the Common Core Standards greater than teachers. Many teachers will have to change their approach altogether in the classroom in order for their students to succeed on the Common Core Standards assessments. Make no mistake that these standards and the assessments that accompany them are intended to be rigorous. Teachers will have to create lessons that include higher level thinking skills and writing components in order to prepare students for the Common Core Standards. This approach is difficult to teach on a daily basis because students, particularly in this generation, are resistant to those two things. There will be more pressure than ever placed on teachers whose students do not perform adequately on the assessments. This could lead to many teachers being fired. The intense pressure and scrutiny that teachers will be under will create stress and teacher burnout which could lead to many good, young teachers leaving the field. There is also a chance that many veteran teachers will choose to retire rather than make the necessary changes. Teachers cannot wait until the 2014-2015 school year to begin to change their approach. They need to phase Common Core components gradually into their lessons. This will not only help them as teachers but will also help their students. Teachers need to attend all the professional development that they can and collaborate with other teachers about the Common Core. Having a firm understanding about what the Common Core Standards are as well as how to teach them are necessary if a teacher is going to be successful. Teachers (Non-Core Subjects) Teachers who specialize in areas such as physical education, music, and art will be affected by the Common Core State Standards. The perception is that these areas are expendable. Many believe that they are extra programs that schools offer as long as funding is available and/or they do not take critical time away from core subject areas. As the pressure mounts to improve test scores from Common Core assessments, many schools could choose to end these programs thus allowing more instructional time or intervention time in the core areas. The Common Core Standards themselves present opportunities for teachers of non-core subjects to integrate aspects of the Common Core standards into their daily lessons. Teachers in these areas may have to adapt to survive. They will have to be creative in including aspects of the Common Core in their daily lessons while remaining true to the academic roots of physical education, art, music, etc. These teachers may find it necessary to reinvent themselves in order to prove their mettle in schools across the country. Specialists Reading specialists and intervention specialists will increasingly become more prominent as schools will need to find ways to close gaps in reading and math that struggling students may have. Research has proven that one-on-one or small group instruction has a greater impact at a quicker pace than whole group instruction. For students who struggle in reading and/or math, a specialist can work miracles in getting them on level. With the Common Core Standards, a fourth-grade student who reads on a second-grade level will have little chance to be successful. With the stakes as high as they will be, schools will be smart to hire more specialists to assist those fringe students who with a little extra assistance can get on level. Students While the Common Core Standards presents an enormous challenge for administrators and teachers, it will be the students who unknowingly benefit the most from them. The Common Core Standards will better prepare students for life after high school. The higher level thinking skills, writing skills, and other skills attached to the Common Core will be beneficial to all students. This does not mean that students will not be resistant to the difficulty and changes associated with the Common Core Standards. Those wanting instant results are not being realistic. Students entering middle school or above in 2014-2015 will have a harder time adjusting to the Common Core than those entering Pre-Kindergarten and Kindergarten. It will probably take a full cycle of students (meaning 12-13 years) before we can realistically see the true impact of the Common Core Standards on students. Students need to understand that school will be more difficult as a result of the Common Core Standards. It will require more time outside of school and a focused approach in school. For older students, this is going to be a difficult transition, but it will still be beneficial. In the long run, a dedication to academics will pay off. Parents The level of parental involvement will need to increase in order for students to be successful with the Common Core Standards. Parents who value education will love the Common Core Standards because their children will be pushed like never before. However, those parents who fail to be involved in their child’s education will likely see their children struggle. It will take a total team effort beginning with the parents for students to be successful. Reading to your child every night from the time they are born are beginning steps to being involved in your child’s education. A disturbing trend in child rearing is that as a child gets older, the level of involvement decreases. This trend needs to be changed. Parents need to be as involved in their child’s education at age 18 as they are at age 5. Parents will need to understand what the Common Core Standards are and how they impact their child’s future. They will need to communicate more effectively with their children’s teachers. They will need to stay on top of their child making sure that homework is completed, providing them with extra work, and stressing the value of education. Parents ultimately have the most impact on their child’s approach to school and no time is this more powerful than it will be in the Common Core Standard era. Politicians For the first time in the history of the United States, states will be able to compare test scores accurately from one state to the other. In our current system, with states having their own unique set of standards and assessments, a student could be proficient in reading in one state and unsatisfactory in another. The Common Core Standards will create competition between states. This competition could have political ramifications. Senators and representatives want to their states to thrive academically. This could help schools in some areas, but it could hurt them in others. The political influence of the Common Core Standards will be a fascinating development to follow as the assessment scores begin to be published in 2015. Higher Education Higher education should be positively affected by the Common Core Standards as students should be better prepared for a college curriculum. Part of the driving force behind the Common Core was that more and more students entering college were requiring remediation particularly in the areas of reading and math. This trend led to a call for increased rigor in public education. As students are taught using the Common Core Standards, this need for remediation should significantly decrease and more students should be college-ready when they leave high school. Higher education will also be directly impacted in the area of teacher preparation. Future teachers need to be adequately prepared with the tools necessary to teach the Common Core Standards. This will fall on the responsibility of teacher colleges. Colleges who do not make changes in how they prepare future teachers are doing a disservice to those teachers and the students whom they will serve. Community Members Community members including merchants, businesses, and tax paying citizens will be affected by the Common Core Standards. Children are our future, and as such everyone should be invested in that future. The ultimate purpose of the Common Core Standards is to prepare students adequately for higher education and to enable them to compete in a global economy. A community fully invested in education will reap rewards. That investment may come through donating time, money, or services, but communities that value and support education will thrive economically.