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Most Americans Should not Use Credit Cards.
For some, credit cards are a convenient and safe substitute for cash. It is particularly helpful, for example when making distance purchases, such as ordering something by mail or over the Internet. However, for the majority of Americans, credit cards have become debt traps that are fast resulting in a financial crisis not only for these individuals, but also for the country as a whole. According to Chu (2008), for example, an increasing number of Americans are using their credit cards to survive today's harsh economic climate. This trend is simply driving the crisis to further extremes. However, credit cards are not only used to stay afloat. Many Americans are driven by greed and consumerism to buy as much as they can with what they perceived to be their "wealth." This trend makes it almost impossible to resist buying a non-essential…
Block, S. (2010, Feb 8.). More consumers Just Say No to Credit Cards. USA Today. Retrieved from: http://www.usatoday.com/money/perfi/credit/2010-02-08-creditcards08_CV_N.htm
Chu, K. (2008, Mar. 30). More Americans using credit cards to stay afloat. USA Today. Retrieved from: http://www.usatoday.com/money/perfi/credit/2008-02-28-credit-cards_N.htm
Simon, J. (2007, Mar. 9). Experian Study finds Rise in U.S. Credit Card Usage. Retrieved from: http://www.creditcards.com/credit-card-news/credit-card-usage-rising-1276.php
Consumer debt is a major problem In America, with credit card debt being the most prevalent type of consumer dent. A great deal of credit card debt is acquired while consumers are in college. This debt often follows them for many years after college is over and accounts for a great deal of the lifelong consumer debt. For this reason the marketing of credit cards to students has been a hotly debated issue. The research indicates that the marketing of credit cards to college students is indeed detrimental to their future financial stability and as such laws have been developed in the attempt to change the practice of marketing credit cards to students on college campuses.
Marketing credit cards to college students has been an issue on college campuses for many years. Pirog & Roberts (2007) reports that nearly 93% of all college students are in possession of…
Nelson, M.C., Lust, K., Story, M., Ehlinger, E. (2008)Credit Card Debt, Stress and Key Health Risk Behaviors Among College Students. American journal of health promotion 22(6)
Pirog S.F., Roberts J.A. (2007) Personality and Credit Card Misuse Among College Students: The Mediating Role of Impulsiveness. The Journal of Marketing Theory and Practice. 15 (1), 65-77
Silver-Greenberg, J. (2009). New Rules for College Credit Cards. http://www.businessweek.com/bwdaily/dnflash/content/may2009/db20090522_377377.htm
Credit Card Marketing on College Campus
College students are the perfect target for credit card companies looking to hook people into the world of revolving credit. They are the perfect candidate for such an ordeal since college students are at an age where they are transitioning from being teenagers living and depending on their parents, to becoming young adults who are going to live on their own, and most likely on the same campus where they attend school. Marketing in this environment, especially when freebies and great superficial incentives are given to a population that is looking at getting an immediate purchase without any immediate money down, makes it easier on these companies to get the right type of person wrapped into their world pretty quickly (Chu, 2008). But is this always the best option? Should credit card companies be marketing at a population that does not necessarily have the…
Mui, Y.Q. (August 27, 2010). Credit reforms reach campuses. In Washington Post.. Retrieved August 8, 2011, from
Lazarony, L. (August 21, 2009). Marketing plastic to students causes lawmakers, educators to melt down. In Bankrate.com. Retrieved August 8, 2011, from
Chu, K. (April 4, 2008). Credit cards go after college students. In USA Today. Retrieved August 8, 2011, from
Glater, J.D. (December 31, 2008). Colleges profit as banks market credit cards to students. In The New York Times. Retrieved August 8, 2011, from
In fifty years, the heavy spending that credit cards facilitate will be viewed negatively, but credit cards themselves will still exist and most likely without stigma. The use of credit cards will be even more widespread, as fewer purchases will be done on site. Credit cards may be scorned by individuals who have acquired too much debt, but on the whole their benefits to society will not be overlooked.
The dramatic increase in consumerism in the United States over the past century received some contribution from credit cards. However, there are a number of other contributing factors as well. The impacts of credit cards have been both positive and negative. They hurt the country economically, facilitating low savings rates and wealth transfer out of the country. They do, however, offer unique convenience and security in today's mobile, electronic world, the same benefits that drove their invention in the face of…
Stephey, M.J. (2009). A brief history of credit cards. Time Magazine. Retrieved December 10, 2009 from http://www.time.com/time/magazine/article/0,9171,1893507,00.html
Garcia, G. (1980). Credit cards: An interdisciplinary survey. The Journal of Consumer Research. Vol. 6, 4, 327-337.
Federal Reserve Bank. (2009). Consumer Credit. Federal Reserve Bank. Retrieved December 10, 2009 from http://www.federalreserve.gov/releases/g19/current/default.htm
As with many diseases, affluenza is contagious. Cultural conditioning through media and advertising promote an image of "the good life" that is associated with possessions. Instead of hard work and frugality, possessions such as fancy cars, McMansions and designer clothes were now the symbols of success.
It was therefore not enough to be wealthy, one had to flaunt it as well.
Meanwhile, those who did not have wealth could pretend that they did, by using their credit cards and falling deeper into debt.
Cultural critics therefore decry how such a materialism fueled by credit cards makes it impossible to live a life that is autonomous from such society-driven false concerns.
In summary, the availability of credit therefore social materialism, and object to how the American concept of "the good life" has come to be associated with consumer goods. The combination of easy credit and cultural taste therefore drives many Americans…
Bernthal, Matthew et al. "Credit Cards as Lifestyle Facilitators." Journal of Consumer Research. June 2005, 32:1.
A de Graaf, John et al. Affluenza: The All Consuming Epidemic. New York: Berrett-Koehler Publishers, 2001.
Kennickell, Arthur et al. "Recent changes in U, S. family finances: results from the 1998 Survey of Consumer Finances." Federal Reserve Bulletin, Board of Governors of the Federal Reserve System, January 2000, pp. 1-29.
King, Amanda Swift. "Untangling the Effects of Credit Cards on Money Demand: Convenience Usage vs. Borrowing." Quarterly Journal of Business and Economics Winter 2004.Vol. 43, Iss. 1/2
Other credit card issuers are proceeding more cautiously. MBNA, for example, the second-biggest card lender in the United States, after Citibank, said in April that it had set up an office in Shanghai to study the market (Kingson, 2004)."
Many credit card providers are waiting until the restrictions are lifted in China before determining whether or not to open. It is important to study the impact that the lifting of those restrictions will have on the Chinese credit card market.
With the impending events in Beijing, and the fact that foreign companies are soon going to be able to come into China and offer credit cards the potential is there according to the literature to grow a credit card market that is strong and safe, however being sure how consumers will react is an important factor in determining whether to keep working on the credit card market.
Adams, a.D. (1906) Electric transmission of water power. New York: McGraw. p.1
____. (1994) the Chinese Credit Card Market Analysed.
Discussion 1: Provide an overview of the credit card issuing industry cost structures and revenue sourcesCredit card issuing companies generate revenues from different sources. One of the primary sources of revenue is consumer (merchant) fees collected from the cardholders for annual subscription, card renewal, card replacement, and redemption of reward points. Customer fees contribute around 9 percent of total industry revenues (Gambardella, 2020). Issuing companies also generate revenues from interest charged on conversion of outstanding amounts to easy Equated Monthly Instalments (EMI), balance transfers between cards, cash advances, and late payment (Hill, Schilling & Joes, 2016). Interest fees account for 36 percent of industry revenues (Gambardella, 2020).The highest revenues are generated from merchant or interchange fees (Gambardella, 2020). When a cardholder makes payment to a merchant through a credit card, the merchant does not receive the full amount. A certain processing fee is deducted, a portion of which is forwarded…
Gambardella, A. (2020). Credit Card Issuing in the US. S Industry Expert Summaries.
Report 5221. IBIS World. Retrieved from https://my-ibisworld com.ezproxy.library.berkeley.org/us/en/iexpert/52221/iexpert
Hamilton, R. W., Rust, R. T., & Dev, C. S. (2017). Which Features Increase Customer Retention? MIT Sloan Management Review, 58(2), 79-85.
Hill, C. W., Schiling, M. ., & Jones, G. J. (2016). Strategic Management: Theory and Cases: An Integrated Approach (12th ed.). Boston, MA: Cengage Learning.
Multiple Counts of Identity Fraud
There is little doubt as to whether or not a person is subject to multiple violations of a state statute that makes it a crime to "knowingly obtain, possess, use, or transfer a means of identification of financial information of another" (Wash. 2006) if a person attempts to use a credit card that is not his or hers more than once. Such a person certainly is liable for multiple criminal counts. The logic that reinforces this assertion is quite clear. In most instances, states consider it a crime to attempt to utilize the financial information or some other means of identification of another -- when a person does so knowingly. Each time a person makes such an attempt, he or she is committing a crime. Moreover, there was a case that helped to establish this precedent in the early part of the last decade. In…
Court of Appeals of Washington, Division 1. (2004). State v. Leyda. http://caselaw.findlaw.com / Retrieved from
39). Credit card fraud, though, is not playground for banks for numerous reasons, including: (a) online payment fraud erodes consumer confidence and trust in their brands; for many consumers, a breach of security prompts a knee-jerk reaction of closing accounts and moving to another financial institution; and - the liability for fraudulent transactions shifts to the issuing financial institution with costs ranging between $20 and $30 to process each chargeback. The author also provides a critical review of what initiatives are being taken to prevent credit card fraud citing the pros and cons of each, but also notes that the problem is complex and the situation remains dynamic.
Scott, . (2007). Credit card use and abuse: A Veblenian analysis. Journal of Economic Issues, 41(2), 567-569. In this study, Scott provides a comprehensive history of the credit card and how its use exploded over the last 20 years and notes that…
About Citigroup. (2008). Citigroup. [Online]. Available: https://www.citicards.com/cards/wv/detail.do?screenID=612.
Identity theft solutions. (2008). Citigroup. [Online]. Available: https://www.citicards.com/cards/wv/detail.do?screenID=700#InternetSecuritySpecialists.
Internet fraud. (2008). Federal Bureau of Investigation. [Online]. Available: http://www.fbi.gov/majcases/fraud/internetschemes.htm .
Scott, R. (2007). Credit card use and abuse: A Veblenian analysis. Journal of Economic Issues, 41(2), 567-569.
History of Credit Cards
The first issuers of credit cards were post-World-War I-era merchants whose customers began arriving from more distant locales by the first automobiles that were widely available to ordinary Americans (Stephy, 2009). Originally, they were intended to allow customers to make payments on unplanned purchases without having to return to their homes to retrieve their cash or their checkbooks (Stephy, 2009). In issuing credit cards, department stores and hotels were actually following the practice first introduced in modern times by gasoline service stations; they began issuing credit cards precisely because their products and services were most in demand by consumers who were too far from home to expect them to go back home for their money (Woolsey & Starbuck-Gerson, 2009). Initially, those credit cards were issued by individual gasoline companies and they were only good for those specific chains (Woolsey & Starbuck-Gerson, 2009). Even that practice had…
Stephy, M.J. "A Brief History of: Credit Card." Time (April 23, 2009). Retrieved online from: http://www.time.com/time/magazine/article/0,9171,1893507,00.html
Woolsey, B. And Starbuck-Gerson, E. "The History of Credit Cards" (May 11, 2009)
Retrieved online from:
It is important to remember that the credit card's promotional strategies must work within the context of the overall brand strategy for Virgin.
Overall, the strategy thus far has been highly successful. The company's strategy going forward should build on the work that has already been done, but recognize the shift in dynamic both in the industry and in terms of Virgin's own position within the industry. These three recommendations facilitate that, while enhancing the perception of value that the customers have with respect to Virgin.
Q2. Loyalty schemes in general are fading from prominence in the industry, and few of them offer much value to the customer. At present, it is difficult to determine the effectiveness of the loyalty scheme at Virgin Money simply because the credit cards have barely left the launch phase. Certainly people are attracted to the cards, but the next couple of years will see…
No author. (2004). Loyalty Schemes for Card Issuers: Do They Justify their Costs? Business Wire. Retrieved May 7, 2009 from http://findarticles.com/p/articles/mi_m0EIN/is_2004_July_30/ai_n6133818/
No author. (2009). Australia Credit Cards. Economy Watch. Retrieved May 7, 2009 from http://www.economywatch.com/australia-credit-cards/
No author. (2008). Westpac Banking -- Virgin Money Credit Card Deal. Reuters. Retrieved May 7, 2009 from http://www.reuters.com/article/pressRelease/idUS186058+03-Apr-2008+RNS20080403
No author. (2008). Virgin Dumps Stakes in Credit Card Market. Business Spectator. Retrieved May 7, 2009 from http://www.businessspectator.com.au/bs.nsf/Article/Virgin-Money-Westpac-renew-credit-card-deal-DC85Z?OpenDocument
redit Analysis Smehra
redit Analysis for Neal Harris
Neal Harris recently submitted his credit application for our consideration. Mr. Harris is 45 years old, married and has 2 children. He currently works at Franklin Industries where he has been employed as office manager for 2 years. Prior to that, he was in sales at Providencial Insurance for 3 years. Neal has resided at his current residence in Tennessee for 1 year.
His credit application has been filed in joint with his wife, Helen Harris, 43 years old. Helen has recently returned to the workforce from being a housewife. She is also employed by Franklin Industries where she has been marketing director for 4 months. Both individuals have a checking and savings account with AmSouth. The purpose of their loan is for a 2003 hevrolet Tahoe. Following is a review of the 5 's of redit for Mr. And Mrs. Harris…
After reviewing the joint credit application for Mr. And Mrs. Harris, I have drawn the conclusion that they should be granted the loan under the terms listed. These are for a loan of $24,000, repayable over 48 months at 4%, minimum monthly payment of $540. While Neal Harris has on record a Chapter 7 file in January, 2001, review of their assets and liabilities reveals that they are suitable candidates for this loan. They also demonstrate timely repayments to their current obligations which include a mortgage with Countrywide, an auto payment with Nissan, and 4 credit cards, one of which is currently at a 0 balance.
The couple is also within the 20% average for credit capacity- net income, and have also demonstrated that they will be able to take on the extra expenditure through this loan through their supplementary income listed. I recommend that AmSouth give Mr. And Mrs. Harris their requested loan under the conditions mentioned.
Therefore, its important that every individual takes step to maintain a good credit history.
How to build a good credit history
Once the importance of credit is understood, the next step is to take measures to build or maintain a good credit score and history. It is not rocket science to have a good credit history. Some amount of restraint and basic financial discipline is all that is required to get a clean credit history.
For starters, one should learn to live within his or her means. Impulse shopping should be avoided at any cost. A better way to buy products is to plan and save for them. This can get the buyer out of credit troubles because the real pinch of money will be realized only when the dues have to be paid. It is also equally important to have good financial planning and disciplined living. All bills have…
The consumer can learn about the various ways credit reports may -- and may not -- be used by reading credible source data online or in print publications.
One of the ways consumers can empower themselves is to gain access to their own credit reports. Access to one's own credit report is easily obtained online, by paying a fee to one of the credit bureaus or consumer reporting agencies. Gaining access to one's personal data is a proactive step towards the protection of one's privacy. As the Privacy ights Clearinghouse (n.d.) puts it, "Ordering your credit report once a year and knowing your credit reporting rights are among the most important steps you can take to safeguard your privacy." Once a year is only a guideline; some individuals might need to order their credit reports often if they have been conducting numerous transactions. Some consumers rarely use credit cards, let…
Electronic Privacy Information Center (n.d.). The Fair Crediting Report Act. Retrieved online: http://epic.org/privacy/fcra/
"Fact Sheet 6: How Private is My Credit Report?" (2011). Privacy Rights Clearinghouse. Retrieved online: https://www.privacyrights.org/fs/fs6-crdt.htm
Federal Reserve Bank of Philadelphia (2011). Your credit report: What it says about you. Federal Reserve Bank of San Francisco. Retrieved online: http://www.frbsf.org/publications/consumer/creditreport.html
Obringer, L.A. (n.d.). How credit reports work. Money. Retrieved online: http://money.howstuffworks.com/personal-finance/debt-management/credit-report.htm
Belonging to Alliant Credit Union Mean to Me?
I am on track to graduate from a Nuclear Medicine program in September of 2015. his is an important step for me because the nuclear medicine program holds out great hope for more efficient strategies for diagnosing and treating disease -- and healing people who are suffering.
After graduation I will pursue a career at Kaiser Permanente. I will pay off my credit card debt and begin a savings and retirement program at Alliant Credit Union, to assure my own financial security but also to ensure that my parents have the resources to be comfortable and happy in their retirement years.
Going back to 2009, when I bought my first automobile -- which is a huge step for a young person in terms of the need for independence, for transportation and the need to learn how to manage one's finances -- I…
That is the way I plan my life and my career -- with constant research and stewardship, investing in my own knowledge bank -- and Alliant Credit Union has been on my side all along, which I greatly appreciate as I move forward in my career..
Moreover, I have never thought of the Alliant Credit Union as a bank at all; banks can be sterile, unfriendly places where a person doesn't really feel at home. But the staff at Alliant Credit Union has always been helpful and gracious to me throughout the years I have been a member.
Since I opened my first accounts on August 8, 2006 (checking, savings, and a credit card) the helpful, informed employees at the credit union recognize and acknowledge me when I come in, which makes me feel like a family member instead of simply a customer.
Electronic Cash and Smart Cards
Forms of electronic cash came about in the 1990s with the rise of the Internet and a new way to do business. Smart cards were among the new forms. When purchasing products over the Internet, consumers have concerns about the privacy of their information with electronic payments. Some studies were conducted to evaluate the pros and cons of smart cards, how the security is designed in the payment systems, and if the use of smart cards can change the addictive behavior of gamblers.
What it is
It is claimed the Mondex smart card can be used the same as cash and have the advantage of not having to carry cash at the same time. It was conceived as a technological solution to the handling of money and undermining the traditional role of the circuit of money. (Knights, 2007) The aim was to replace the…
Knights, D. e. (2007). Organization. Retrieved from Sage Publications: http://org.sagepub.com
Nower, L. a. (2010, Jan 19). Gambling Motivations, Money-Limiting Strategies, and Precommitment Preference of Problem vs. Non-Problem Gamblers. New Brunswick, NJ, USA. Retrieved from Springer Science+Business Media, LLC.
Wang, H. e. (2004). Concurrent Engineering. Retrieved from Sage Publications: http://cer.sagepub.com/
Smart Card Health Role in Rational Use of Medicines
The objective of this study is to examine the role of smart cared in health and their role in the rational use of medicines. Smart cards are very small and very secure and serve to protect patient privacy. Smart cards contain digital logs with location, date, time, and the individual's stamp to record every transaction. Smart cards also may contain digital prescriptions therefore mistakes made with prescriptions that are handwritten are eliminated and specifically as to the "quantity or quality of medications." (HealthOne, 2011)
How the Smart Card Works
The smart card uses technology that stores a patient's personal health information on a microprocessor chip embedded in the card that is the size of a credit card but that has a "small metal contact plate on the front which is how the reader accesses the medical information stored on the chip"…
Benjamin, DM (2003) Reducing Medication Errors and Increasing Patient Safety: Case Studies in Clinical Pharmacology. J Clin Pharmacol 2003 Jul;43(7):768-83.
Hsu, MH (2011) Online detection of potential duplicate medications and changes of physician behavior for outpatients visiting multiple hospitals using national health insurance smart cards in Taiwan. Int J. Med Inform. 2011 Mar;80(3):181-9. Epub 2010 Dec 22.
Hsu, MH, Li, YC, and Liu, CT (2006) ADRs and Smart Health Cards. CMAJ Aug 15, 2006 Vol. 175 No. 4. Retrieved from: http://www.cmaj.ca/content/175/4/385.1.full
Runciman, WB et al. (2003) Adverse Drug Events and Medication Errors in Australia. Int J. Qual Health Care 2003, Dec;15 Suppl 1:i49-59.
The Depression of 1893
Following hard on the heels of the depression that had taken place just two decades previously, the precise causes for this economic downturn remain unclear. In this regard, Steeples and Whitten (1998) advise, "There is no adequate account of the causes of the depression of 1893 -- 1897 or, by implication, of the crisis itself" (p. 6). These authors, though, cite fundamental shifts in demographics in the U.S., as well as innovations in technology and manufacturing that caused a reevaluation of traditional institutions and the role that the U.S. was going to play in the economic affairs of the world in the 20th century as contributing to this depression (Steeples & Whitten, 1998).
The "Great Depression" of 1929-1939
The stock market crash in 1929 is frequently cited as the precipitating factor for the Great Depression, but othermund (1996) emphasizes that there were other economic forces…
Black's law dictionary. (1991). St. Paul, MN: West Publishing Co.
Connolly, B. (2008, Winter). Defining the financial safety net: Two dozen experts weigh in. the
International Economy, 22(1), 24-25.
Dattel, E. (2008, Winter). Defining the financial safety net: Two dozen experts weigh in. the
Closing the loan is also known as firm commitment, and involves the completion of all key paperwork within a designated time. A closing date is set, and the closing costs are established. hen the client pays the costs and completes the paperwork, the loan is closed.
The next step is to service the loan. Servicing refers to the management of the payments. The loan creates an obligation on the part of the borrower to make payments as specified in the agreement. The role of the bank is to ensure that those payments are received. Servicing may be contracted out to a secondary party. In the U.S. that might be Fannie Mae or Freddie Mac, who provide a secondary market for mortgages. In a servicing arrangement, the bank would collect the payments and remit most of this money to the secondary market investor. The bank would keep a portion of the…
Federal Deposit Insurance Corporation website. Retrieved April 30, 2009 from http://www.fdic.gov/regulations/laws/rules/6500-1400.html
Rajan, Raghuram G. (no date). Why Bank Credit Policies Fluctuate: A Theory and Some Evidence. University of Chicago. Retrieved April 30, 2009 from http://faculty.chicagobooth.edu/raghuram.rajan/research/fluct.pdf
Penwell, Tracy L. (2009). The Credit Process: A Guide for Small Business Owners. Federal Reserve Bank of New York. Retrieved April 30, 2009 from http://www.newyorkfed.org/education/addpub/credit.html
No author. (2009). Closing. Mortgage X. Retrieved April 30, 2009 from http://mortgage-x.com/library/closing.htm
Cell Phone as an Electronic Wallet
apid advances in technology in recent decades have brought about a dramatic change in the way people work, transact and communicate. Yet, it is widely believed that there is still ample scope for technology to make life even more convenient and efficient. For instance, the cell phone is already showing the promise of functioning as an electronic wallet. It is the purpose of this paper to demonstrate that using the cell phone, as an electronic wallet, will in fact add a great deal to convenience and safety, especially in the area of replacing plastic credit, debit and smart cards.
paid card; convenience; efficiency; safety; security; electronic; identification; business; bank; credit card company; consumer; transaction; identity theft; fraud; charge back; commissions.
Advances in Information Technology and Communication in recent decades have brought about a dramatic change in the way people live, work and play.…
Batista, E. (2002, Nov. 25). Shopping by cell phone? No thanks. Wired News.
Retrieved Aug. 29, 2004: http://www.wired.com/news/business/0,1367,56511,00.html?tw=wn_story_page_prev2
Beaudette, M. (2002, Aug. 5). Firms offer cell phone users services to dial for; devices not just for talking anymore. The Washington Times. Retrieved Aug. 27, 2004 from the Cellbucks Web site: http://www.cellbucks.com/en_US/news/080502WT.html
Bhatnagar, P. (2004, Feb.3). New cards: Flash but don't swipe. CNN Money.
When the Employer Sanctions provision of the Immigration Reform and Control ct of 1985 was passed by Congress, there followed widespread discrimination against foreign-looking merican workers, especially sians and Hispanics. Failure to carry a national I.D. card would likely come to be viewed as cause for search, detention or arrest of minorities. The stigma and humiliation of constantly having to prove that they are mericans or legal immigrants would weigh heavily on such groups.
On the other hand Bolton (2010) reports Senate Democratic Whip Dick Durbin (Ill.), calculates mericans have become more comfortable with the idea of a national identification card. "The biometric identification card is a critical element here," Durbin said. "For a long time it was resisted by many groups, but now we live in a world where we take off our shoes at the airport and pull out our identification. People understand that in this vulnerable world,…
American Civil Liberties Union (ACLU). 2003. 5 problems with national id cards. ACLU, 8, September, http://www.aclu.org/technology-and-liberty-/5-problems-national-id-cards (accessed August 4, 2010)
Alexander Bolton. 2010. Dems spark alarm with call for national ID card. The Hill, 30, April, http://thehill.com/homenews/senate/95235-democrats-spark-alarm-with-call-for-national-id-card (accessed August 4, 2010)
Alexander Bolton. 2010. Dems spark alarm with call for national ID card. The Hill, 30, April,
Demonstrations may be effective, but are best used to target illiterate customers with no TVs, which is not the BeamCard target market. Direct mail is a potential option, but the costs relative to SMS are high, plus it is essential that potential customers have cell phones, so SMS more directly hits the target market. Likewise, cinemas can reach a huge market in India, but the high production costs and considerable spillover into non-target markets makes this option relativley inefficient. Television will hit the target market more directly, as fewer Indians can afford televisions than can afford a trip to the movies.
Merchants will not be marketed to directly. In the highly competitive Indian market, merchants will respond quickly to consumer demand. If demand is generated among SEC a and SEC B. consumers, merchants will move quickly to stock BeamCards. This means that the distribution channels are the most important part…
Iceland's Economic Crisis
The purpose of banking in Iceland: speculation and hedging
The central issue: too much too soon
eplicating Wall Street
Taking on foreign "assets" at a ratio to GDP of 10:1
Is debt an asset?
Easy credit and the role of the Housing Financing Fund
Low interest rates
g. The end of short-term financing in the wake of Lehman's collapse
h. The bubble bursts
The plight of the average citizen
j. Aliber's speech
k. Left holding the bag
The effects of financial deregulation
A prime opportunity for shorting
Iceland and Nationalization
Not Bailing out the Banks
Introduction: Statement of Purpose
The bankruptcy of Iceland in 2008 can be explained in one line from Michael Lewis's Boomerang: Travels in the New Third World. The line is stated by a representative of the International Monetary Fund (IMF) who is tasked with assessing whether…
Aliber, R. (2011). Preludes to the Icelandic Financial Crisis. UK: Palgrave
Christiansen, L. (2011). Iceland: Geyser Crisis. Preludes to the Icelandic Financial
Crisis. UK: Palgrave: 89-106.
Danielsson, J. (2008). The first casualty of the crisis: Iceland. The First Global
House of Cards David Faber, 2012) is a documentary that depicts the origin, process and results of an economic crisis that was initiated by the lenders targeting real estate and exploiting the housing shortage while taking advantage of the lowered interest rates by the Federal Reserve. he documentary highlights how the program which at the advent seemed wise and the best solution to the housing shortage and needs of the Americans, turned out to be a tale of deception and greed by the main money industry players like the banks to a magnitude that was unprecedented in the history of America.
he documentary uses a balanced approach to portray how the unsustainable trend in the supply of mortgage and the rising interest rates led to the vast foreclosures as never seen before within U.S.. he correspondent of the documentary gathered information from personal stories narrated by key participants, home buyers,…
There are various issues seen to be emerging from the documentary that can be looked at from a business point-of-view. The house of cards documentary can be analyzed looking at strategy. The strategy used in the program was not economically viable and sustainable leading to the surge in the homes. The Federal Reserve chairman had encouraged the mortgage industry to come up with different types of loans in order to enable more people purchase homes. He went ahead to say that new mortgage arrangement would really be beneficial for American consumers if the lenders would offer a wider range of mortgage alternatives as opposed to the fixed -- rate mortgages which were in existence. This was very amusing to bankers since their business was to pool mortgages for investors to purchase and in turn would remit monthly payments generated by the mortgages. This means that the more mortgages lenders would have to offer for homebuyers, the more the bankers would sell. Unfortunately this was a very poor strategy for mortgage lenders. This is because this program was very inappropriate for the majority of those who took it (Richmond, 2009). Encouraging more mortgages with a view of encouraging spending and money circulation, unfortunately never came with check and balances hence the market ran unregulated. Standards for getting mortgages were set aside, the rating criteria by the rating companies were highly compromised with the view of having repeat clients and the banks were more willing to give out money in form of mortgages.
This program only favored bankers since there was a pay option of negative amortization an adjustable rate to mortgages. It was actually put in place in order to encourage those who wanted to buy houses for the first time and they could not afford the cost of the loan. Those buyers would get the option of paying only part of the interest which they owed the lenders each month. The interest that had not been paid would be added to the total amount of the mortgages hence increasing the balance of the mortgage instead of a congruent reduction in the balance with the continued repayment. This was not a proper and profitable strategy since eventually there were people who lost out on the program while others benefited. This was an unfair strategy to the buyers since they would in the long run have to pay higher amounts of money for the mortgages (Bark, 2009).
The planning of the entire program is also depicted as wanting. This is because initially the plan never premeditated the idea of granting home loans to the people who were not able to raise a down payment for a house but really wanted to live the American dream of owning a home. Unfortunately this came into the plan halfway without any necessary regulations. The housing bubble then extended to those who were not credit worthy or could not afford a down-payment,
Finally, if the user wants a receipt, this bar changes to red, with an arrow pointing down towards where the receipt will be dispersed.
To the right of the black square containing the touchscreen there is a green portion featuring a coin and bill slot along with text listing all of the denominations accepted by the machine. To the lower-right of that is a small yellow area where MetroCards are dispersed (and where old MetroCard may be traded in). elow the screen a blue area features a slot for credit and debit cards alongside a keypad and icons listing all of the accepted cards. The lower portion of the blue credit area and the yellow fare card area slant forward, so that their lower edges once again meet the foremost plane of the machine. Immediately below this, centered in the middle of the machine, is a red area where change…
Cultural anthropological design thought as seen in the new york subway system. 1999. Axis (78):
Heller, Steven. 2001. Masamichi udagawa, experience designer. Print 55, (3): 40 & 114.
MetroCard vending machine. 2000. I.D. 47, (4): 58.
Automated Teller Machine Servicing
The use of ATM in a retail banking system has become a revolutionized technology that assists banks to facilitate banking transactions and free customers from a lengthy queue. Moreover, the ATM technology has facilitated the global integration for fund transfer, withdraw and deposit because it assists bank customers to travel to any part of the world to complete the banking transactions using their ATM cards (Alexander, & Maiden, 2004). Despite the benefits associated with the ATM technology, nevertheless, the ATM system requires developing a use case to support for the ATM system.
The use case is a technique to identify functional requirements of a software system to assist in effective functioning of ATM services. Typically, use case is an important concept representing user objectives, which can either be a graphical form or textual form. The benefit of use case is that it assists in describing a…
Alexander, I., & Maiden, N. (2004). Scenarios & use cases: Stories through the system life-cycle. Hoboken, NJ: John Wiley.
Mall, R. (2004). Fundamentals of software engineering. London: Prentice-Hall.
Rajaraman, V. (2004). Analysis and design of information systems.London: Prentice-Hall.
Senthil Kumaran, U. U., Arun Kumar, S. S., & Vijaya Kumar, K. K. (2011). An Approach to Automatic Generation of Test Cases Based on Use Cases in the Requirements Phase. International Journal On Computer Science & Engineering, 3(1), 102-113.
While Citibank may be committed to such a rollout, it needs to consider staggering the rollout over the course of years. This will help regional management become more involved in the rollout in each country, which will reduce the risk of each individual rollout. In addition, lessons learned from the initial rollouts can be applied to the subsequent ones, increasing the odds of success with the later rollouts. The rollouts can also be undertaken on the basis of back office concerns (rolling out Singapore, Malaysia and Indonesia as one group given linguistic similarity; Taiwan as another for example). This can only be accomplished by understanding the differences between the markets and how best each market may be served.
It is also recommended that Citibank consider the spinoff marketing impacts of credit cards in its calculations. Credit cards can serve two important functions for Citibank in Asia. The first is that…
aid Mr. Harris: "We are always looking at new ways to reach our customers through innovative digital platforms." Mobile works well since "There is rapid growth in mobile devices supporting more and more of the everyday tasks that people want to perform."
Another highly successful mobile application has been that of American Express' Android version of its free mobile app, which has had more than 1 million views since 2011. The mobile apps are free as are the apps that AE has implemented via social media (ibid.)
The American Express (AE) Credit Card Company markets itself in various ways. avvy with its promotional and publicity performance, it has put together a variety of tools -- some of them innovative -- that it uses for its own promotional ends. These include extensive featuring of celebrities, innovative media campaigns, cause activity promotional ends, innovative use of social media, as well as…
CNN Money "World's Most Admired Companies 2011." Fortune. http://money.cnn.com/magazines/fortune/mostadmired/2011/full_list/
Facebook Members Project from American Express
Gillin, Stephen (September 7, 2011) Altruism drives AmEx small-business strategy http://www.btobonline.com/article/20110907/SOCIAL05/309079998/altruism-drives-amex-small-business-strategy#seenit
Lys Fashion Business Plan
DayLys primary earnings
The company's start up
DayLys proposed start up expenses
Strategy and implementation summary
Sales revenue for the first and second year
Graph depicting the sales revenue
Five-year financial plan
Pro Forma Profit and Loss
Pro Forma Cash Flow
Pro Forma Balance Sheet
Percent of Total Assets
Percent of Sales
The focus of this project is to draw up the business plan for DayLys Fashion and the start up funding will be $45,000. The paper also provides the pro-forma profit and loss, and the marketing strategies. The financial plan reveals that the company will record profits in the first year and continuing making profits within the next five-year.
DayLys Primary Earnings
DayLys primary earnings will be $62,715 in year 1, $135,771 in year 2,
and $243,806 in year…
Porter, M.E. (2001). Strategy and the Internet. Harvard Business Review.
companies such as credit card systems have their backend offices (databases) in India. What are the benefits and risks?
The databasing industry in India is a growing and thriving IT market with credit care companies including Diners Club and Citibank storing their client and potential client information in Indian databases (Vandrevala 15). Clearly, there are extensive benefits from databasing this information offshore. The costs in India are much cheaper, to both develop and maintain complex databases, saving the company finances and labor. In addition, the copyright laws in India have been modified to protect the data, and maintaining ownership of the parent company, rather than the IT company providing services in India. This was a major hurdle to widespread databasing in India, and when the laws were changed, more companies such as credit card companies took advantage of the lower costs in India, and moved their databases offshore. Moreover, the…
Vandrevala, Phiroz. "A Study on the Impact of Protection of Unoriginal Databases on Developing Countries: Indian Experience." WIPO.org. 2002. 9 Feb. 2004. http://www.wipo.org/documents/en/meetings/2002/sccr/doc/sccr7_5.doc
Criminals don't always need to have shotguns and masks to threat and rob money; it only takes a social security number, or a pre-approved credit card application from trash to make things according to their wicked way (ID Theft, 2004).
Some consumers have had credit card numbers and Social Security numbers stolen and used fraudulently or identity theft. By taking reasonable steps to protect your personal information, this can mitigate the chance that it may be stolen (What you should know about internet banking, 2007) by identity thieves.
Identity theft is a term used for serious crimes associated with someone uses your name, address, Social Security number, bank or credit card account number or other identifying information without your knowledge to commit fraud. This fraud may only take setting up accounts in your name and make online transactions without you knowing (Get the Upper Hand on Credit Crime, 2004).
Convenience Factors. (2002). Retrieved March 14, 2007. http://jobfunctions.bnet.com/whitepaper.aspx?docid=50925
Bank Information - Internet and Online Banking. (2005). Retrieved March 14, 2007. http://www.uk-bank-account.co.uk/online.html
Einhorn, Monique F. (2005). Coping with identity theft: imagine discovering that someone has opened credit card accounts or secured a home equity or car loan under an assumed name: yours. Consider receiving an IRS W-2 form reporting wages earned by someone else who has used your name and Social Security number (Cover Story). Partners in Community and Economic Development. Retrieved March 14, 2007. http://www.highbeam.com/doc/1G1-132841950.html
Get the Upper Hand on Credit Crime - Protect Your Identity With a Few Simple Tips; Your Credit Card Companies Alerts Consumers About Ways to Fight Back Against Identity Theft Scams. (2004). Retrieved March 14, 2007. http://goliath.ecnext.com/coms2/gi_0199-893980/Get-the-Upper-Hand-on.html
Despite of these advantages that were mentioned, which creates the power to convince consumers and business owners to use and accept legacy payment methods in a networked environment, there are also a number of disadvantages why some people are hesitant to use such mode of payment. They are especially true when they are used in a networked environment particularly in the Internet.
Issues, Disadvantages, and Solutions in Legacy Payment Methods in a Networked Environment
One of the most critical issues that exist in the use of legacy payment methods in a networked environment, such as the credit card, is how secured are the financial and personal information of the credit card users. Especially when used online, where information is oftentimes vulnerable to threats and unauthorized access, there is a high possibility that credit card information may not be secured. This thus is causing great concerns for consumers.
One of the…
Orr, Bill. The Great Card Question: Will it be Smart or Debit?
ABA Banking Journal, Vol. 90, Issue 9, pp 54-57.
2005. The BeeHive Online. 2005. http://www.thebeehive.org/money/credit-cards-benefits.asp
The biggest challenge however over the long-tern is the lack of acceptance of foreign cards by Chinese merchants. There are an estimated 20 million businesses in China, and of these, 414,000 accept credit cards, and of those, 150,000 accept foreign credit cards (Worthington, 2003). At the infrastructure level this fact illustrates how pervasive the sociological factors that limit debt continue to influence the Chinese culture specifically and the Asian culture overall. As with every Asian culture, there is tremendous pride in not losing "face" or stature in ones' community. As a result, cash is king in the more conservative cities and regions of the country. The generation of 25 to 40-year-olds will change this, however it may take a generation or more to significantly increase American Express credit card use in Asia and China as a result.
Bayot, J (2004, March 30). American Express to Issue Cards in China.…
Bayot, J (2004, March 30). American Express to Issue Cards in China. New York Times,
Retrieved June 8, 2009, from http://www.nytimes.com/2004/03/30/business/american-express-to-issue-cards-in-china.html
Owen Brown. (2004, December 9). China Banks Add Credit Cards With Help From AmEx and Visa. Wall Street Journal (Eastern Edition), p. C.2.
David A Von Emloh, Emmanuel V Pitsilis, Jeffrey Wong. (2003). Credit cards come to China. The McKinsey Quarterly: Special Edition,20-23.
Competitive Intelligence eport: Barclaycard
Today, Barclaycard has grown from its relatively humble beginnings in 1966 to become one of the leading credit card companies in the United Kingdom with more than 10,000,000 cardholders as well as almost nine million cardholders abroad. Although the company has enjoyed a steady increase in the number of cardholders and Barclaycard has been a first mover in introducing new technologies into its business plan in recent years, this growth has not been without some problems and many of its customers are loudly complaining about poor or nonexistent customer service, exorbitant fees and faulty security measures. Taken together, it is clear that Barclaycard has done a few things right while managing to stumble over its success at others. To identify what the company has done right and wrong, this study provides a review of the relevant peer-reviewed and scholarly literature as well as various online sources…
Baird, R 2001, "Way to Starve the Sharks," New Statesman March 26, vol. 130, no. 4530, p. 37.
Barclaycard company profile 2009, Barclaycard. Available at http://www.barclaycard.com/templates/company_profile.html .
Maude, D, Raghunath, R, Sahay, A. & Sands, P, 2000, "Banking on the Device," The McKinsey Quarterly, p. 87.
Blake, S 2004, "Advertisements: From Hollywood, for Our Eyes Only," New Statesman October 11, vol. 133, no. 4709, p. 16.
As per IC Sec. 1033(h), the tax rules for the replacement of those properties destroyed or converted in such cases are eased and the overall replacement period extended as well. "Some rules were also revised like the 'ev. ule 95-22' which considers the funds received for the primary residence as well as scheduled property such as jewelry, pieces of art, coins, etc. which had been insured, as funds for a single item of property." (IS, Tax Law Changes elated to Hurricanes Katrina, ita and Wilma) These funds were to be considered as a "common pool" of proceeds from which the gains realized by the taxpayer could be to the extent of the amount exceeding the expenses after meeting a suitable replacement property. This revised rule also clarifies that the replacement property could refer to the residence being replaced or any scheduled private property "in any proportion." (Kess, Hurricane Katrina tax…
Agnew, Christine, L. Come Hell and high water: Can the tax code solve the post-
Katrina insurance crisis?
Brown, D.M. Hurricane Katrina: The First Seven Days of America's Worst Natural
Disaster. Kessinger Publishing. 2005.
I want you to put yourself in their shoes and then tell me how you would feel if someone--anyone -- got a hold of your personal information, your private information, your identity, and used that information to buy stuff online. To commit Grand Theft.
Now, the defense is going to try to steer your minds away from the crime that was committed and will tell you that the police were not entitled to use canines in their search for drugs at - school. Of course, we as the state believe 100% in the protection of your rights and freedoms as Americans. We hold strong to the 4th Amendment of the constitution.
But in this case, these children were attending school. A key phrase in this trial is the "reasonable expectation of privacy." You and I have a reasonable expectation of privacy when we are in our own homes, don't we?…
Risks for Children
Credit Card Usage
Using the Internet Safely
The Internet is a wonderful place and can create many positive experiences for people of all ages. A vast amount of information is available with a simple click of a mouse. Great deals, convenience and choices are found all over the Internet. However, when exploring what the Internet has to offer, users must be smart to make the most of the online experience. The Internet is a very real place and there is good reason to be exercise caution when using it. The same dangers that exist on the street exist on the Internet.
Risks for Children
Children are often more advanced than their parents on the Internet (Coalition for Children, 2000). Young people are more comfortable with computer technologies, schools are going online rapidly and the Internet is growing in many…
McAfee.com Virus Information Library
2. National Infrastructure Protection Center: www.nipc.gov
Boss I think someone stole our customers
Flayton Electronics Case Study
Brett Flayton, CEO of Flayton Electronics, is facing the most critical crisis of his career when it is discovered that 1,500 of 10,000 transactions have been compromised through an unprotected wireless link in the real-time inventory management system. Brett has to evaluate his obligation to let customers know of the massive leak of private data, define a communication strategy that would notify customers across all states of the potential security breach, and also evaluate the extent to which the Flayton Electronics' brand has been damaged in the security breach. In addition, steps that the company can take in the future to avert such a massive loss of customer data also needs to be defined and implemented.
Assessing the Obligations to Customers vs. Keeping It Quiet
Ethically, Brett Flayton has a responsibility to tell the customers immediately of the security…
Aldhizer, George R., I.,II, & Bowles, John R.,,Jr. (2011). Mitigating the growing threat to sensitive data: 21st century mobile devices. The CPA Journal, 81(5), 58-63.
Gatzlaff, K.M., & McCullough, K.A. (2010). The effect of data breaches on shareholder wealth. Risk Management and Insurance Review, 13(1), 61-83.
Gregory, A. (2008). Conserving customer value: Improving data security measures in business. Journal of Database Marketing & Customer Strategy Management, 15(4), 233-238.
Kelly, C. (2005). Data security: A new concern for PR practitioners. Public Relations Quarterly, 50(2), 25-26.
In contrast, Harley-Davidson is selling more of an experience and also a lifestyle change. For Harley, the open road and freedom is the catalyst of their unique value proposition. For Dunkin' Donuts, the trust they have created and sustain makes them a perfect choice for millions of consumers rushing to work in the morning who may have skipped breakfast at home. Harley-Davidson is all about a lifestyle change and freedom while Dunkin' Donuts has become a trusted source of excellent coffee, bakery items and excellent service.
American Express Video
After viewing the American Express video, can you identify a card that might fit your needs?
The Optima card which allows a card holder to carry a balance would be best, as the work I do has unequal payment dates. Freelance work pays irregularly so the Optima card would work best.
Also describe a credit card that you have. Is the…
Since the generation with the highest birth-rate is reaching the retirement age, they are prone to travel more and lead to an increase demand for hotel rooms. (15%) j. Fast food outlets in emerging markets
The fast food industry is expected to register an increase during the following years, especially within emerging markets. Here are some factors that would generate the increase in demand for fast food products:
Increased interest from foreign investors which enter the emerging markets and strongly promote the products (45%)
Growing economies and wages, implying an increased focus on jobs, in the detriment of home cooking (35%)
Changing consumers needs (20%) k. Credit cards issued by financial institutions
Credit cards encompass products offered by banks or other financial institutions which allow their clients to use the bank's money and then pay them back at a previously specified interest rate. Credit cards have always had great success…
Reilly, M.D., Working Wives and Convenience Consumption, the Journal of Consumer Research, Volume 8, Number 4, March 1982
Williams, J., New Online Shopping Trends, WebPro News, September 2006, http://www.webpronews.com/expertarticles/2006/09/18/new-online-shopping-trends , last accessed on November 16, 2007
Prema, K., Faxes are Evolving (Trends in the Usage of Fax Machines), High Beam Research, March 2006
The Death of Film? Digital cameras claim the future, Financial Express, February 2006, http://www.financialexpress.com/news/story/149140/,last accessed on November 16, 2007
exchange of currency have proliferated the Internet marketing world. Customers have faster and easier access to methods of exchange, deposits and payments, than ever before and the changes have come rapidly as more and more Internet commerce demands more and more ease of exchange. A global economy requires global economic infrastructure solutions to exchange of funds and to a large degree the Internet market has answered the call for change and availability of services. Yet, the substantial growth of Internet sales has also, arguably caused the growth of subsystems and infrastructural shifts that might not have been implemented with full knowledge of the implications of such actions. With security at risk and issues of currency exchange rates, not to mention global monetary regulations consumers must be aware of the type of services they are using and the way it might affect the efficacy of their transaction.
Internet Marketing not only…
Plander, B. "Credit Card Processing" http://www.west-wind.com/webconnection/MerchantProviders.asp
Phase 5 "RBC Case Study" http://www.phase-5.com/p5-case_studies/bank_tracking.php
Hoovers Online "Fact Sheet PayPal" http://www.hoovers.com/paypal/--ID__61321 -- /free-co-fin-factsheet.xhtml
electronic money, and a description into the various types of electronic money.
Computers and telecommunications devices may come in place of paper currency and checks - during a course of time. Also, electronic ways of transaction of money have turned out widely prevalent. Anyhow, in the recent past debate about "electronic money" has witnessed a dramatic change, narrowing down to the level to which new ways of electronic money will in course of time turn central banks out of date, making them fragile that they cannot manipulate inflation. (Stevens, 72) Electronic money can be considered in terms of electronic substitute for coins and banknotes, which is saved on an electronic gadget such as a chip card or computer memory and which overall is meant for the reason of influencing electronic payments of restricted loans. (Directive 2000/46/Ec of the European Parliament and of the Council, 2)
Electronic money is not…
Bank of International settlements, (BIS). Security of Digital Money. Basel, 1996, 1-11
Board of Governors (BoG) of the Federal Reserve System. The Federal Reserve System: Purpose & Functions. Washington, D.C.: Federal Reserve System. 1994, 1-18.
Bonorris, Steven. Institute for Technology Assessment (ITA) (ed.): Digital Money: Industry and Public Policy Issues. Washington: ITA, October 1997, 44
Directive 2000/46/Ec of the European Parliament and of the Council, 2000, Official Journal of the European Communities, 27 October, 2000, 1-10
My student loan payments of $609.07 are scheduled to begin May 1, 2009. I do not have the resources to make these payments and Chapter 7 Bankruptcy does not affect student loans.
Since I have been stretched beyond my financial capacity, I am now consistently behind in my mortgage payments and am not in a situation to rectify this problem. I am paid on the 15th and 30th of each month and because I am so overextended, I can only make my payment on the 30th of each month. Due to my now chronically late payments, I am now subject to $136.44 in late fees every month, which I can ill afford. I am facing eminent foreclosure if I am unable to change the terms of my mortgage.
I believe my circumstances make me an excellent candidate for the Hope for Homeowners Act. The Affordabilty vs. Value portion of this…
Carrabine, Lee and South 193)
As has been said before, the UK no longer makes anything, builds anything or sells anything tangible. The decline in industrial production has resulted in an overall decline in employment of industrial workers, who have not been aided by a failing system to transition to other work.
Some would say that the changes occurring in the UK, at this time with the increased importance of service industry work and intelligence rather than physical labor employment is a natural byproduct of globalization and an evolutionary product of the next phase as a "developed" nation.
They evidence this by observing that all developed nations are leaning in this direction. Yet, the transition has not and will not be easy, whether it is normal or not, a point which remains to be proven.
ith the education system in the UK in serious need of reform…
Georg Simmel's The Philosophy of Money centers on the subject of money and its social meaning to the individual and the society. In his discourse, Simmel discusses how money becomes the symbol of a rational society, which is highly impersonal, rational, and calculable. This argument is due to the characteristically lesser interaction between or among people interacting on strictly impersonal situations, i.e., business transactions where there is an exchange of money (from the buyer) and good or service (from the producer/seller). Furthermore, societal relations among people may decrease, but individual empowerment, because it "increase personal freedom and fosters social differentiation" (Coser, 1977:193-4). In effect, through Simmel's discourse on the social meaning of money, society shift from being a close-knit to a mass society.
If Simmel's arguments about the social meaning of money will be applied in the context of the credit card industry, most of the viewpoints he expressed…
Coser, L. (1977). Introduction to Sociology. New York: Harcourt-Brace.
Simmel, G. (1900). A Chapter in the Philosophy of Value. American Journal of Sociology, Vol. 5.
Unethical Business esearch Practices
What unethical research behavior was involved?
The antitrust case brought by Wal-Mart and other retailers against Visa and MasterCard in the U.S. Eastern District court, was settled in 2003 for $3 billion and primarily involved a dispute concerning the efficient pricing of access to payment information, including security data that confirmed or refuted the transactional identities of cardholders (oberds & Schreft, 2009). In their pleadings, Wal-Mart and other class action litigants argued that third-party providers such as Visa and MasterCard required them to accept both debit and credit cards issued by MasterCard but the interchange fees were higher for debit cards (Ulzheimer, 2012). In sum, the suit filed by Wal-Mart and other large retailers claimed that Visa and MasterCard "required all merchants who accept their credit cards to also accept their signature debit cards [which] constitutes an illegal tie-in in violation of antitrust law" (Peterson, 2002,…
An introduction to ISO 27001. (2012). The ISO2700 Directory. Retrieved from http://www.
Azola, M. (2011). The Reconciliation Project: Separation and integration in business ethics research. Journal of Business Ethics, 99, 19 -- 36.
Binning, D. (2012). Top five cloud computing security issues. ComputerWeekly. Retrieved from:
Satellite Television service
Many people like Mary Cox, are trapped in situations they cannot understand due to their inability to peruse through their service contract terms and conditions. People find it difficult to read contracts in full, and instead focus on headline elements such as the price. It is also expected that those who have a good read of contracts before engaging in them experience slightly fewer problems. It is most unlikely that the satellite provider deducted the $400 from Mary without making mention of it in the terms and conditions of the service contract. Service contracts are legally binding agreements that are meant to govern delivery of services as well as their payments. They take various forms, they can be made by spoken word in instant transactions such as when buying a loaf of bread from the grocery or they can be made when the consumer and the supplier…
marketing plan for a new software application. The software works by gathering purchase information from consumers via their credit and debit card purchases, and then generating a list of anticipated future purchases. This will then be used by our company to sell targeted ads to these consumers. The software works in a manner that is actually quite similar to the way that websites like Amazon, Booking.com, Facebook and Trip Advisor track search queries and deliver an output of purchase "suggestions." The difference in this case is that instead of cookies online, the software tracks credit and debit card purchases, through agreements with banks and credit card companies. However, it shares with adware a similar function, with similar ethical dilemma and low level of desirability for the consumer (Spiegel, 2013).
Senior management is interested in the product, but wants to get a better sense of the market for it, and how…
Pearson, S. (2009). Taking account of privacy when designing cloud computing services. Labs HP . Retrieved November 1, 2013 from http://www.gtsi.com/files/6713/6355/4960/HP_Lab.pdf
Read, M. & Arabee, Z. (2011). Increase product sales of electronic companies by using IT applications in creating an effective e-marketing plan in social virtual worlds. Symposium on Information & Computer Sciences. Retrieved November 1, 2013 from http://eprints.sunway.edu.my/115/1/ICS2011_16.pdf
Spiegel, Y. (2013). Commercial software, adware and consumer privacy. Tel Aviv University. Retrieved November 1, 2013 from http://y2007.recanati.tau.ac.il/~spiegel/papers/adware.pdf
Assumption Use in the Financial Plan
Additional Assumption in Sensitivity Analysis
FIRST TWELVE MONTH CASHFLOW RESULT
HOW MUCH SHOULD NORMAN PAY FOR THE EXCLUSIVE RIGHT?
FORECASTED CASHFLOW FOR THE NEXT FIVE-Year
CASH FLOW WITH A LOAN AT 8% PER ANNUM
THE SALES PRICE AND kg SALES GRADUALLY INCREASE AT 5%
THE SALES PRICE PER kg INCREASE AT 10% UT THE UNIT SALES REMAIN AT 5%.
Investment Value Using At Discounted Rate 5%
est Financial Plan and Option
Assumption Use In The Financial Plan
Additional Assumption in Sensitivity Analysis
It is further assumed that price will increase gradually at the rate of 8% per annum and sales will increase at 7% per annum.
For the purpose of analysis, both the sales price and Kg sales will gradually increase at 5%.
Another scenario will be that the sales price per Kg increase at 10% but the unit sales…
Saltelli, A., Ratto, M., Andres, T., Campolongo, F., Cariboni, J., Gatelli, D. Saisana, M., and Tarantola, S., 2008, Global Sensitivity Analysis.The Primer, John Wiley & Sons.
Sensitivity analysis. (2014). Retrieved Janaury30, 2014, from http://en.wikipedia.org/wiki/Sensitivity_analysis
€ Exchange Rate $
NFC is going to revolutionize the smartphone as an e-commerce platform.
The proliferation of smartphones continues to lead to exceptional growth of application development across all platforms, with Android being the clear leader in the last six months of development. The decision to make the platform and source code both open have contributed to Google quickly overtaking Apple and their iPhone OS operating system in terms of market share. It has also need to more phones and devices supporting Android than any other operating system today. The growing competitive threat to the Apple iPad is also attributable to the Android operating system gaining critical mass in this segment of the market as well. Finally, the collaboration applications on smartphones continue to redefine how businesses use these from an enterprise standpoint. Sales force automation, CM, and customer service have all been made more efficient due to smartphone applications. The dominance…
Anderson, T.. (2009, November). What You Need to Know About Smart Phones 2.0.
Kiplinger's Personal Finance, 63(11), 79.
Andrew Johnson. (2011, February). In Apple Mobile Pay Plans, a Possible Opening for
Banks. Cardline, 11(5), 2.
Some of the violations of civil and human rights that have resulted for the PA include "aggressive deportations, crackdowns at borders, surveillance of mosques and homes...destroyed livelihoods, splintered families and the loss of a sense of belonging and citizenship," the group asserts on their eb site. Moreover, many peace activists, demonstrators at anti-war rallies, animal-rights groups, student organizations, and critics of the U.S. policy towards Cuba, have been monitored and added to FBI and CIA databases as potential "enemies of America."
ID CHIPS: An article in ABA Journal (Tebo, 2006) points out that employees of some companies are being asked to have ID chips implanted in their arms so their employers "can monitor their movements," Tebo writes. And while the company that is using these ID chips, (www.Cityatcher.com) can rightly say absolute security is pivotal to their customers, many experts, the article continues, "worry that the law is not…
American Civil Liberties Union. (2006). Federal Court Strikes down NSA Warrantless
Surveillance Program. Retrieved 27 Oct. 2006 at http://www.aclu.org/safefree/nsaspying/26489prs20060817.html .
Berghel, Hal. (2006). Phishing Monger and Posers. Communications of the ACM, 49(4), 21-25.
Eggan, Dan. (2005). Bush Authorized Domestic Spying. Washington Post, Retrieved 27 Oct, 2006, at http://www.washingtonpost.com .
Dear Jet Express Airlines:
This letter is to inform you of my complete dissatisfaction with your customer service, which resulted from my recent experience of booking a trip through your company. Jet Express Airlines came highly recommended to me by a trusted colleague, and so I turned to your company when booking a recent trip. The trip was to be both business and personal in nature, and involved several different flights to different locations on different days. I made the reservations over the telephone, as I thought this would be the quickest and easiest way to book a complicated trip, since I would have the advantage of talking with a real human being. I also hoped that booking a trip directly through your company would be more cost effective than booking it through a travel agent.
Upon my initial call, things seemed to go well. I spoke with a…
e. no standardization) b) Diamonds: good medium of exchange
Peaches: perishable, differences in quality (i.e. no standardization) d) Grade a Honey: differences in quality (i.e. no standardization), difficult to transport e) Ice in a warm climate: perishable, difficult to store a. Over the long run, what is the primary determinant of the price level? Supply and demand, with price acting as an equilibrator b. Over the long run, what is the primary determinant of inflation?
The supply of money as compared to changes in productivity.
c. How is inflation related to the nominal interest rate?
Expectations of future inflation are one of the key factors in determining the nominal interest rate, the other being the 'core' interest rate, or the inflation-free level at which one is willing to lend money (which differs according to the issuer and associated risk premium).
4. Describe each of the following financial institutions. If it…
Consumer Borrowing -- Spending an Economy Out of a Recession
The 'answer' provided by consumer borrowing and spending during recessions and even depressions revolves around the classical, microeconomics 'answer' to what seems like an economics paradox. Namely, how does one stimulate the economy into a state of recovery, when one is faced with consumers who have less money to spend on basic goods? Consumers who may be unemployed are understandably cautions about their economic future, so how does one 'give' them money to spend and encourage producers to produce.
Neo-classical or naturalistic theories of economics have tended to stress the need for the Federal Reserve Bank to lower the interest rate. This makes it cheaper for consumers to borrow money from banks, less punitive for consumers to use their credit cards to make purchases with money they do not have at the moment, and it also gives consumers an incentive…
Intrusion Detection Systems: etail-Based Cybercrime and the Importance of Security Point of Sales Endpoints Systems
etail-based cybercrime and the importance of security Point of Sales Endpoints Systems
The recent technological advances have resulted in increased dependability of network-based technology for everyday usage. Points of sales systems have also evolved, and they are now linked to the company's network, which makes them vulnerable to attacks. The number of attacks leveled against POS endpoints has increased steadily in recent times . This is because they are mostly stand-alone and they are used to capture credit card information. The attackers are mostly interested in customer information for fraud or identity theft purposes. In order for POS systems to verify customer information and process credit cards, they need network connection. The network connection provided is dependent on the store. Large stores connect their POS systems to the internal network in order to simplify administration…
 B. Qawami, B.Z. Talaich, and M.J. Farrell, "Enabling a Merchant's Storefront POS (Point of Sale) System to Accept a Payment Transaction Verified by SMS Messaging with Buyer's Mobile Phone," ed: Google Patents, 2012.
 P. Kabiri and A.A. Ghorbani, "Research on Intrusion Detection and Response: A Survey," IJ Network Security, vol. 1, pp. 84-102, 2005.
 S.R. Snapp, J. Brentano, G.V. Dias, T.L. Goan, T. Grance, L.T. Heberlein, C.-L. Ho, K.N. Levitt, B. Mukherjee, and D.L. Mansur, "A system for distributed intrusion detection," COMPCOM Spring, vol. 91, pp. 170-176, 1991.
 N.B.W. Mlitwa and D. Birch, "The role of intrusion detection systems in electronic information security: From the activity theory perspective," Journal of Engineering, Design and Technology, vol. 9, pp. 296-312, 2011.
Make SWFT Compliance Your Competitive Advantage for 2014
All government contractors have until December 31, 2013 to be in compliance with the new secure Web Fingerprint Transmission (SWFT) requirement defined by the Defense Security Service (DSS) in January, 2013.
Now Is The Time To Add A Trusted Compliance Advisor To Your Team
Security First Associates can save you the time, costs and hassle of attempting to attain SWFT compliance quickly. Choosing Security First Associates as your trusted advisor for SWFT compliance and filing of Electronic Fingerprint Transmission Specification (EFTS) with the Office of Personnel Management (OPM) saves you:
Valuable Time By Having Security First Manage SWFT Compliance. Valuable selling and customer-face time can be saved and invested back in relationships, invested in new proposals, and not rushing through a LifeScan machine purchase and all the training that goes with it.
Having to learn how to work with the Office…
This once more impedes with our goals of gaining professional formation.
Also in terms of financial considerations, the economic agents often engage in processes of downsizing. These are understandable from an organizational standpoint, but they negatively impact the employees -- my generation more than the older generations. In this order of ideas, most of the companies which downsize their staff members apply the rule of LIFO -- last in, first out. This basically means that we, as the latest and youngest additions to organizations, will be the first to be fired. The actual act of being downsized or the simple threat of it also impacts our generation more than the older generations. To better explain, most representatives of my generation do not yet have a house of their own and continue to leave in rented facilities. The economic crisis -- with its lack of promotional opportunities and salary raises, alongside…
Business Manager 0668
Tools for customers
E-commerce payment solutions
Search Engine Optimization
Strategies for improvement
Search Engine Optimization and webpage rankings
Global business diversity
Customer elationship Management
Website integration of tools
Discuss how you will facilitate customer payment using e-commerce solutions (e.g., how the transaction will take place, including the tools customers will use).
The customer transactions and payments are one of the important elements of e-commerce strategy. The businesses are required to offer a secure and trust worthy system for their client to manage the financial transactions. There are different transactions handling methods used by the e-commerce-based organizations. These payment methods should be aligned with the overall business transaction handling process as well as appropriate selection of tools and e-payment solutions.
The transactions of products produced under the label of Sunny Day salon are mainly related…
Buttle, F. (2012). Customer relationship management.USA: Routledge.
Kent, P. (2012). Search engine optimization for dummies. USA: John Wiley & Sons Inc.
Kim, C., Tao, W., Shin, N., & Kim, K.S. (2010). An empirical study of customers' perceptions of security and trust in e-payment systems. Electronic Commerce Research and Applications, 9(1), 84-95.
Ojeda-Zapata, J. (2011). iPad Means Business: How Apple's Tablet Computer is Changing the Work World. USA: Happy About.
Paradoxically however the greatest
satisfaction doesn't come from buying more and more, stuffing bigger homes
with more purchases. It comes from being free enough to give away time,
give away money, give of ourselves. James Twitchell is correct; the
greatest true luxuries are time and philanthropy. The dilemma is when do
these two greatest luxuries begin to become part of the accessories of the
successful life as projected to others? Only the wealthiest appear free
enough from what others think of their apparent wealth or lack of it to
embrace time and giving as personal assets, albeit ones inconspicuous. The
paradox of how conspicuous consumption defines personalization isn't easily
answered, yet in the end, can only be answered by ourselves. True wealth
isn't about accessorizing our lives, even with a 10,000 square foot
mansion; it is about giving part of our lives away to enrich others.
Affluence is an affectation;…
Twelve ESL learners who participated subsequently found that participating in text-based online chat rooms promoted a noticeable difference in their face-to-face conversations, particularly in noticing their own linguistic mistakes.
Psychologists stress little if any learning occurs without attention. "Text-based online chat, a particular form of synchronous computer-mediated communication (CMC) involving written oral-like conversation, has the great potential of increasing noticing for two reasons:
1. Compared to face-to-face conversations, CMC allows conversations to flow at slower speeds than face-to-face; consequently permitting "speakers" to have longer times to process receiving and producing the target language.
2. CMC can save texts (previous messages) in format that users may later access. (Lai and Zhao)
The following copy of "ESL Online Talk Community" illustrates concept Lai and Zhao present.
Practice makes perfect, but many ESL students do not have opportunities to practice speaking English. This Website is trying to establish an online community to enable…
4. Anderson, B. (1983). Imagined Communities: Reflections on the Origin and Spread of Nationalism. London: Verso.