Private Gain Of Both Parties Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3141 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? After having identified the above major issues, we should now consider the ways the transaction was carried and presumably how the money has generated and made disappeared. This scandal here illustrates that corporate vehicles played the principal role in hiding the abuse of public trust for private financial gain. Corporate vehicles are often considered to be companies, trusts, foundations, and others. Don’t waste time! Our writers will create an original "Private Gain Of Both Parties Finance Essay" essay for you Create order We also find that despite the millions of euros involved in the illegal transaction, there has been no conviction made nor the investigations have managed to trace the actual owners of Anglo- Leasing. Reviews and researches suggest that these kind of grand cases exist worldwide. Furthermore, in most of these cases, there are common characteristics. Similarly like these other cases, it was found that; a corporate vehicle was misused to hide the money trail; the corporate vehicle in question was a company or corporation; the proceeds and instruments of corruption consisted of funds in a bank account and in cases where the ownership information was available, the corporate vehicle in question was established or managed by a professional intermediary  [2]  . It is extremely difficult to measure with any precision the extent of misuse of corporate vehicles for wrongful purposes. Nevertheless, a number of reports and surveys have concluded that corporate vehicles are used largely in th ose criminal activities. For example, a recent survey conducted of EU member States indicated that almost every criminal act, including economic crimes, involves the use of legal persons, and the Euroshore Report asserted that corporations throughout the world are used to launder money  [3]  . According to the FATF, shell companies are frequently used to facilitate bribery  [4]  . In this extract we find that Anglo Leasing was an unknown UK shell company. Out of a large number of cases analysed that involved any sort of company, that company was a shell company. It can be defined as a non-operational company-that is, a legal entity that has no independent operations, significant assets, on-going business activities, or employees.In a case study on money laundering involving Riggs Bank, a U.S. Senate report declared that, In many instances, a private banker will set up [a] shell corporation for a client and open accounts in the name of that shell corporation, in order to disg uise the clients ownership of the account or certain assets.  [5]  It is found that unlike normal companies, shell companies have no economic activity, which makes it very difficult to find out much information about them. A normal company that is engaged in business will usually market itself, create a website, buy space in the phonebook, sponsor youth sporting events, and purchase supplies and equipment. It will have employees who can be interacted,  keep meeting minutes that may be consulted, and produce financial data. A non-operational company like a shell company may do some of these but are not obliged to do so. Now let us have a quick look at how shell companies help to corrupt funds. In its most usual form, a professional intermediary provides a company to a corrupt party who then uses it to conceal the money trail as the illicit funds in question are transferred into and through bank accounts. Key challenges and points of current weaknesses relate to the gaps in the information kept by company registries, the role of professional intermediaries, especially lawyers, and the difficulties faced by investigators in working across borders. It is suggested that  company registries are the first port of call for investigators, though too often the information held on file there is incomplete, out of date, or, in the case of trusts, which are not registered, entirely absent  [6]  .These corporate service providers are too often negligent, willfully blind, or even actively complicit in laundering the proceeds of corruption. This shows us that due to a lack of compliance, a lot of non-operational (shell) companies get away easily. In this extract as well we find that a similar non-operational (shell) company was used in the proceeds of corruption. This was clear as the Anglo Leasing had only a post office box in Liverpool as its registered address. It was also impossible to find who controlled the Anglo Leasing. Finally, the fact that att empts to investigate those allegations were frustrated shows that the Kenyan government and these government leaders have misused their power to influence the investigations. It made it impossible to trace the one who controls the Anglo Leasing in order to hide the corrupted money. While corrupt PEPs may be a small portion of the entire number of PEPs, a single corrupt PEPs behaviour can have a disproportionate impact on a country and sometimes an entire region. We have seen that corruption is a global problem and it carries a lot of risks. It is most severely felt amongst the poorest of the developing world. Unfortunately Kenya is found on the list of these developing countries where corruption is a key concern. It is reported that, opinion polls also constantly show corruption as a key issue for Kenyans, demolishing their faith in government, judicial and security structures. In 2009, Kenya was once again classified amongst the most corrupt countries in the world, coming 146th out of 180 countries polled in the Transparency International Corruption Perceptions Index.  [7]  Moreover, corruption and bribery affects Kenya and its international partners in a variety of ways. In most cases, these issues undermine governance, democracy and the rule of law, aggraviate injustice and conflicts. Corruption hurts the poorest most and deteriorates development, adding to basic daily costs and taking money away from fighting poverty and delivering services. It destroys investor confidence, raising the costs of doing business, driving investors and employers away and reducing economic growth. In addition, it is seen that corruption increases crime and seriously threatens security in Kenya and abroad, providing an attractive environment for terrorists, drug traffickers, money launderers and other criminals. The World Bank Assessment of the investment Climate in Kenya 2009 notes that corruption cost Kenya up to 4% of annual sales value, and up to 12% where it invol ved public procurement. This a high amount by international standards and added to other indirect costs, like those associated with insecurity, negatively affects investor confidence and economic growth  [8]  . Additionally there are also several risks associated with bribery. It affects the principle of fair competition and establishes bad governance in such countries, slowing down their efforts to mitigate poverty and often contributing to instability and human rights abuses.Bribery can lead directly to human suffering and death, for instance where it results in government contracts being awarded to companies that perform substandard construction work or provide substandard goods and services in the health sector. Bribery of foreign officials can help to establish corrupt elites by providing the incentive and the means to maintain a rigid grip on power. Last but no the least, based on the very first extract, the large amounts of money which are supposed to be invested on pu blic services for the citizens are seen to be misused and to be pocketed by these government leaders. Due to this the lay people are deprived of the basic and most important needs and services making a whole population more vulnerable. After having analyse these above facts, let us now consider the last part of question (a), which requires us to examine how these above concerns stated can impact the global economy. As described above, we have seen the risks that are associated with corruption and bribery. However now we should demonstrate how these concerns could affect the economy worldwide. Corruption has several unfavourable consequences on the global economy. This may lead to a decline and disbelief of public institutions, lack of government revenues, weakening of the private investment climate, and collapse of social service delivery mechanisms. The  ¬Ãƒ ¢Ã¢â€š ¬Ã… ¡ows of corrupt money damage the reputations of  ¬Ãƒâ€šÃ‚ nancial institutions and undermine public con ¬Ãƒâ€šÃ‚ dence in the integrity of the  ¬Ãƒâ€šÃ‚ nancial system  [9]  .The World Bank has estimated that 0.5% of GDP is lost through corruption each year  [10]  .  Indulging in corrupt practices may also create a very adverse business environment by encouraging unfair advantage and anti-competitive practices.   Additionally, it allows organised crime to flourish; corruption is one of the chief obstacles to the economic growth of a country. Where corruptions exist, entrepreneurs are aware that some of the proceeds from their future investments may be claimed the corrupt officials. Payment of bribes is often required before necessary permits are issued. Therefore investors may consider corruption as a tax thus reduces incentives to invest. Mauro (1995) provides evidence that corruption lowers investment and economic growth.  [11]  More likely, it is observed that corruption can bring loss on tax revenue. This may cause adverse budgetary c onsequences. Finally, we find that corruption and bribery may affect the composition of government expenditure. Corrupt governments may prefer those types of expenditure that allow them to collect bribes and keep them secret. Corruption equally affects the fairness, efficiency and legitimacy of state activities. (b) Executive summary Introduction This report describes the systems and controls, which financial services firms, should adopt in order to manage bribery and corruption risks. We expect regulated financial services firms to consider our findings and examples of good practices. We require regulated firms to lay down and maintain effective systems and controls to mitigate these financial crimes risks. Financial crime risk here includes the risk of bribery and corruption. In addition to these regulatory requirements, a section within this report will also focus on the risks associated with the management of foreign PEPS. Issues Over the past twenty- ¬Ãƒâ€šÃ‚ ve years, the whole world has learned about the gross abuses of corrupt politically exposed persons (PEPs), and through outrageous examples, the way in which they plunder state assets, extort and accept bribes, and use domestic and international  ¬Ãƒâ€šÃ‚ nancial systems to launder their stolen assets. Grand corruption, asset theft, and international  ¬Ãƒ ¢Ã¢â€š ¬Ã… ¡ows of stolen and laundered money have an insidious and devastating impact on development. They degrade and undermine con ¬Ãƒâ€šÃ‚ dence in public institutions. They taint and destabilize  ¬Ãƒâ€šÃ‚ nancial systems, affecting trust. It is high time to develop and implement such systems and controls in order to mitigate these risks, which are associated to corruption and bribery. Systems and controls The UKs six anti-corruption general principles: Risk Assessment Top-level Commitment Due Diligence Policies and Procedures Effective Implementation Monitoring and Review  [12] Risk assessment By conducting a corruption risk assessment at an early stage of a project, companies can take steps to deal with corruption risks. Such an evaluation will determine the level of corruption risk the project is likely to face, and identify any particularly challenging areas, such as at a specific stage of the business cycle or a particular aspect of a companys interaction with governments, bureaucracy or private-sector players. With this information, a company can develop measures to protect itself from exposure to corruption and prepare its employees to respond effectively and consistently if they come across corruption. The organisation can also use the information provided by the assessment to introduce measures such as anti-corruption policies, and training appropriate to the political and business environments in which the company will be operating.Risk-based compliance programs allow organizations to properly design mitigation strategies and strategically set out resources to c ombat potential cases of bribery, corruption, and fraud.Significant advantages can be gained for global organizations that recognize the importance of identifying weaknesses throughout their business in terms of bribery, corruption and fraud prevention. Senior executives that are aggressive in filling gaps in current anti-corruption policies by implementing strong solutions can minimize future costs and improve business operations  [13]  . Top-level Commitment The culture of an organisation must be driven by total commitment from the most senior officers. For this to happen it should take responsibility at the board level for bribery prevention. There should be a zero-tolerance culture toward bribery. It is very important that the management not only demonstrates its engagement concerning this principle but this should also be projected in an effective way to all the relevant personnel. These personnel should make sure that as per the managements determination, bribery should not be undertaken and that regardless of legal requirements, any individual who are engaged in this would be subject to rigid disciplinary action. In this case, it is clear that training and good awareness are key of this process. Training should be given a great importance in order to help and educate members in any firm. Training should be provided Board Members to make sure that they understand the threat and recognise the necessity to comply with the Acts provis ion (Bribery Act). While the training should be high level, they should also ensure that a high level of commitment is maintained from their behalf. Moreover, while training the Bribery officer and his deputies, a detailed knowledge of the legal provisions should be required. They also be provided with practical training on the nature and indicators of corrupt practices as well as countermeasures. As for the finance personnel, for their training, they should make sure that there is a good understanding of the sort of mechanisms used to facilitate corrupt payments. Usually, these personnel must be very alert to suspicious transactions, such as high payments to consultants or suppliers. Above all, the Finance Department must be able to show transparency in all dealings. All these trainings, should be refer to the Policy of the organisations determination not to be indulged in bribery and should make the reporting mechanism very clear. Training should also be reinforced effectively in all departments of the firm. Due Diligence Banks should perform reasonable judgment while designing and implementing policies, procedures, and processes in regards to PEPs. They should obtain risk-based due diligence information on PEPs and establish policies, that provide for appropriate surveillance and monitoring. Having convenient risk-based account opening procedures for large amount of sums or higher-risk products and services is very important. The opening of an account is the main opportunity for the bank to acquire information for all customers, including PEPs. Corresponding with the identified level of risk, due diligence procedures should include, the following: Identify the accountholder and beneficial owner, including the nominal and beneficial owners of companies, trusts, partnerships, private investment companies, or other legal entities that are accountholders. Seek information directly from the account holder and beneficial owner regarding possible PEP status. Identify the accountholders and benefi cial owners country of residence and the level of risk for corruption and money laundering associated with these jurisdictions. Obtain information regarding employment, including industry and sector and the level of risk for corruption associated with the industries and sectors. Check references, as appropriate, to determine whether the account holder and beneficial owner is or has been a PEP. Identify the account holders and beneficial owners source of wealth and funds. Obtain information on immediate family members or close associates either having transaction authority over the account or benefiting from transactions conducted through the account. Make reasonable efforts to review public sources of information.  [14] Policies and procedures While dealing with this principle, we should ensure that, any policy document should state without question that all forms of corrupt practices are prohibited. It must be stated clearly and in a way where it is easily accessible to those who are administered by it. The policy should be described in full detail the procedures which are active to enforce prohibition of bribery and corruption. Effective Implementation The UKs Bribery Act was set forward in July 2011. So any firm will need to implement the measures as soon as possible. These measures are will be also subject to constant and routine review and assessment. This should be carried out in order to ensure the continuation of effective application and make such amendments, as it may be necessary. The UK Bribery Act and the FCPA is considered as the most harsh bribery laws in the world. This is why the organisations need to implement their compliance strategy cautiously and effectively. Monitoring and Review In regards to all the procedures, it will be very vital to ensure that these controls and systems is being enforced by the firms and if it is working. Checks should be made by the Bribery Officer in order to know whether reporting, due diligence and the monitoring processes are being constantly and properly applied. Appropriate sanctions will be required where there is a failure in this case. Reports would also be provided to the regulator or the law enforcement agency if such incidents are identified. List of cases in regards to the above facts: The Aon Company. It was fined by the FSA as the company failed to take reasonable care in order to implements system to fight the risk of bribery and corruption. BAE Systems. It was faced with investigation on the basis that the company paid large sums to government officials. There are however many other cases where companies have failed to implements effective controls and where bribery and corruption occurred. Risks associated with the management of foreign PEPS. Lastly, we should now focus on the risks, which are likely to be associated while managing the foreign PEPS. The identification of foreign PEPs is also one of the major requirements outlined in the US Patriot Act of 2001. Distinguishing between PEPs can be challenging for banks and their specific compliance departments because of limited tools and resources, such as a lack of subscriber access to a global PEP database. Furthermore, a potential foreign PEP client might provide false information or fail to disclose key data. Not all financial institutions require clients to self-identify as PEPs on account-opening forms. Banks usually depend on the information provided by clients, that is available in the media, on global PEP databases and occasionally on private databases. Many of the banks most at risk of having corrupt PEPs as clients cannot distinguish between foreign and domestic PEPs. In fact, most banks stressed that a distinction made little business sense and that it was eas ier to set up systems to include both domestic and foreign PEPs. Often it is easier and less resource intensive to identify domestic PEPs. In addition, they were also concerned about the reputational risk of banking a corrupt PEP more generally, a risk that exists equally among domestic and foreign PEPs.  [15]  Foreign PEP databases are usually not comprehensive and can differ greatly in their coverage of different geographical regions. Relying on commercial foreign PEP databases, as the only identification tool in cases of high money laundering risk is unlikely to be sufficient.  [16]  So these are the facts on the risks, which can be often seen in the management of foreign PEPS. Conclusion So based on these above facts on corruption and bribery among PEPS, we find this is a very serious issue worldwide and immediate action should be taken in order to mitigate all risks which are associated. If firms implement good and effective controls internally, there is not any doubt that these concerns can be tackled.

Ronald Wilson Reagan And The President Of The United...

Ronald Wilson Reagan was the fortieth president of the United States of America. He was a member of the Republican party. He served two terms as the president. He was shot in attempted assassination attempt by John Hinckley Jr. These are the simple facts that most everybody knows. But what was his personal life like? Did he ever have a family? Was he always a politician, or more specifically was he always a member of the Republican party? These are the questions that not everybody knows the answers to. Let s start from the beginning, His birth. Ronald Wilson Reagan was born on April 6th, 1911 to Nelle Wilson Reagan and John Edward Jack Reagan in a small apartment above a convenience store in Tampico, Illinois. He had one sibling, his older brother John Neil Reagan who born around three years earlier. (Cannon) What was Ronald Reagan s childhood like? This incredible man seems to have had an incredible childhood as well. Ronald Reagan was an exceedingly active young man. He was always playing outside. He played several sports in school including football, basketball, and swimming. However, he was adventurous as well, he was almost killed while he was playing underneath a train that suddenly started moving. Ronald Reagan was an exceptional swimmer, and because of this, he served as a life guard for six summers at the Rock River in Lowell Park, Dixon. Over the course of his life guard career he saved a total of 77 people from drowning. (Cannon) What was Ronald Regan sShow MoreRelatedComparative Analysis of Woodrow Wilson vs. Ronald Reagan1631 Words   |  7 PagesAnalysis of Woodrow Wilson vs. Ronald Reagan Two American Presidents, both very influential in their time and both having had a great impact on history are Ronald Reagan and Woodrow Wilson. Both Presidents were advocates of peace even though they would not have hesitated to enter into a war if war was needed to insure the safety of the United States and Democracy as a whole. 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Coffee Bean †Malaysia Free Essays

string(41) " where they can meet with their friends\." Our research is conducted with the purpose of investigating and studying the current retail mix. We chose The Coffee Bean amp; Tea Leaf  ® as the retail company which operates in Malaysia. This report is important for The Coffee Bean amp; Tea Leaf  ® as it helps them to identify their problems and make further improvements to enable them to compete with their competitors, for example, Starbucks. We will write a custom essay sample on Coffee Bean – Malaysia or any similar topic only for you Order Now As we know, The Coffee Bean has a lot of franchises, there were about 750 stores in 22 countries, for example in California, Arizona, Nevada, Singapore, Malaysia, Sabah, Taiwan, UAE, Korea, Brunei, Indonesia, Australia, Shanghai, Israel and Brunei and continues to expand both domestically and internationally. As it is hard for us to conduct a research on this topic in so many countries, therefore we only focus on The Coffee Bean operating in Malaysia. We conducted our research by using searching for detail information through the internet. Besides that, we went to one of the franchises located in Penang to see how the business operates, how the staffs serve their customer and to know more information on the store layout and design. The result of our research shows us that The Coffee Bean amp; Tea Leaf  ® has encountered many problems. As conclusion, we did include several recommendations to The Coffee Bean and to help them to improve in order to earn more profit and their sales can increase. RETAIL ENVIRONMENT Retailing is the final activities and steps needed to place merchandise made elsewhere into the hand of the consumer or to provide services to the consumer. Nowadays, retail sector is increasingly being viewed as an important in the economy and to the society. According to Malaysia Retail Report 2010, it predicts that total retail sales will grow from an estimated US$35bn in 2009 to almost US$58bn by 2014. A low unemployment rate, which rise the disposable incomes and a strong tourism industry are key factors behind the forecast growth. In 2009, Malaysia’s nominal GDP was US$201. 6bn. Over the forecast period through to 2014, it predicted that average annual GDP will growth 4. 3%. With the population expected to increase by 9. 8%, GDP per capita is predicted to rise from US$7,103 in 2009 to US$9,654 in 2014. Furthermore, it also forecast that consumer spending per capita will increase from US$1,961 in 2009 to US$3,197 in 2014. Moreover, Malaysia is classified as an upper-middl e income country. According to the Department of Statistics Malaysia (DSM), the average consumer spending was MYR2,285 per month in urban areas and MYR1,301 per month in rural areas. With the urban population predicted to account for almost 76% of the total by 2015, according to UN data, this is likely to have a positive effect on retail sales. Thirteen years ago, The Coffee Bean and Tea Leaf brought the art of coffee drinking and the world of gourmet grinds to the land of kopitiams and has since successfully integrated it into the fabric of the urban Malaysian’s lifestyle. Thirteen years later, there are over 54 stores in the east and west Malaysia. We can see that between this time period, Coffee Bean had rapidly growth. Besides, Malaysian today is also familiar with Coffee Bean compare to a few years ago. In the future, it is expected that Coffee Bean will continue to growth in Malaysia due to the changing lifestyle of Malaysian and other factors. INTRODUCTION In year 1963, Herbert B. Hyman started The Coffee Bean ;amp; Tea Leaf  ®. With a dedication to excellence and the quality of coffees and teas in the world, Herbert’s efforts made him the founding father of gourmet coffee in California. Now The Coffee Bean ;amp; Tea Leaf  ® has grown into one of the largest privately-owned, family-run coffee and tea companies in the world. Besides, the endurance and popularity of The Bean attributed to the high standards that were established from the beginning. The Coffee Bean ;amp; Tea Leaf  ® has discovered the formula for a successful coffee and tea company, which is start from trend-setting drinks such as the World Famous Ice Blended ®, to the employees who become a part of the communities they work in. Today, they offer over 22 varieties of coffees and 20 kinds of teas. Moreover, Coffee Bean is also a Clicks and Mortar retailer. They sell their product at both online and via physical stores. The Coffee Bean ;amp; Tea Leaf  ® mission is to create a spirit within the company that inspires their team members to provide their customers with a total quality experience that is: Quality of Product, Service and Environment Furthermore, they also believe in the fundamental truths that guide them through their daily lives at The Coffee Bean ;amp; Tea Leaf  ®, which is: 1. Friendly with each other and their customers. 2. Respect for each other’s values, opinion and individual diversity. 3. Ownership, it is because they are proudly entrusted with the responsibility. . Teamwork, it is because they achieve success by working together. 5. Honesty, it is because they are truthful to each other and to themselves. In short, they realize that their customers deserve ‘simply the best’. THREATS AND OPPORTUNITITIES Opportunities 1) Changing lifestyle Although there is an economic downturn in year 2009, however, the specialty of coffee industry has grown every year. Acc ording to one of the economy observer, when times are good the coffeehouse industry is great, and when times are bad the coffeehouse industry is still great. This means that the coffee industry is strong at all times. What makes the coffee industry become a strong industry at all time? One of the main factors is changing in the Malaysian’s lifestyle. Nowadays, many of them are hard-working, fast-paced Malaysian considers a stop at their local coffeehouse as their necessary part of the day. This is because coffeehouses provide calm, inviting environment for people to socialize, relax or catch up on work. Coffeehouse for such The Coffee Bean ;amp; Tea Leaf is one of the places where they can meet with their friends. You read "Coffee Bean – Malaysia" in category "Papers" Besides, with the relaxing atmosphere and environment it makes the coffeehouse become a suitable place for the college student to do their assignment or discussing their homework. During weekend nights, coffeehouse is the place where full with the young customers. Furthermore, instead of going to a bar and paying for an alcoholic drink or a restaurant where a meal usually comes with a hefty price tag, the older adults now choose to spent their time in the coffeehouse. With a cup of coffee and snack, they can meet with their friends and relax. 2) Market potential As what we had discussed just now, Malaysian’s lifestyle is changing and therefore, coffee industry for such The Coffee Bean has the potential to growth in Malaysia. According to the research, there are only 54 outlets of The Coffee Bean ;amp; Tea Leaf in the whole Malaysia included East Malaysia. In the future, it is expected that the number of outlet will continue to increase. In short it means there is a market potential for The Coffee Bean. Threats 1) Competition Global coffee market is one of the very competitive sectors. The main competitor of The Coffee Bean ;amp; Tea Leaf in Malaysia is Starbuck. This is because both Starbuck and The Coffee Bean ;amp; Tea Leaf are addressing the same target group. Both The Coffee bean and Starbucks have developed a strong and successful business by adhering to their core values that is to offer customers the best coffees and teas, to hire friendly staff from local community and to provide comfortable places to them to relax. Therefore, The Coffee Bean ;amp; Tea Leaf has to develop the best strategies to compete with Starbuck. In here, the most important thing to compete with Starbucks is to improve its services. For example, The Coffee Bean ;amp; Tea Leaf had offering â€Å"Party Pack† which customer can order when throwing a house or office party. They provide services of giving their customer the possibility to bring The Coffee Bean ;amp; Tea Leaf lifestyle back to their homes. Moreover, the company also provides online services. They have their home page with virtual stores which is being defined as collection of all pages of information. The customers can buy their product through online and knowing the latest promotion through the homepage. Besides, coffee manufacturer, such as, Nestle USA, Inc, distribute premium coffee products nationally in supermarkets and convenience stores. Most of these products may be substitutes for this company’s coffees and their coffee drinks. Therefore, if the company wants to retain its status as the world’s leading specialty coffee retailer, it must be aware of their competitors. 2) Host country risk management Risk management issues such as government policies, regulation, macroeconomic variations and monetary uncertainties are important to The Coffee Bean ;amp; Tea Leaf on its international franchising. Therefore, it is a necessary for The Coffee Bean ;amp; Tea Leaf to understand the host county government policies concerning to the transfer and repatriation of dividends, fees and royalties. However, this company conducts a very little host government policy evaluation due to attributed to a lack of resources and reactive approach to market expansion. 3) Enthusiasm of health consciousness Nowadays, people attitude are changing and they care more to health. More and more people are taking responsibility for their health rather than passively accepting medical decisions. With this, the consumers are cutting down on caffeine. It is because they believe that drinking coffee will harm their health. This is because that they feel that the pros of consuming coffee are less than the cons. As a result, this may decline the demand for coffee from The Coffee Bean ;amp; Tea Leaf. COMPANY’S RETAIL MIX Retail mix is the combination of merchandise, assortment, price, promotion, customer service and store layout that best serves the segments targeted by the retailer. Price The price is what the customer willing to pay in exchange for the benefits of the product and services. From the research that we had conducted on several Coffee Bean franchises, it is clearly shown that the price of most of the products offered is around RM10 and above. For example, an egg club sandwich and a plate of Chinese chicken salad cost Rm15. 50 each. It may be expensive for certain group of people such as the youths who are the zero income earners. With this we can see that the price charged by The Coffee Bean is slightly higher than those coffee shops such as Old Town Coffee but if we use Coffee Bean pricing and compare it to their biggest competitor in the coffee industry, for such, Starbuck. Starbucks will have a little advantage on the pricing as with high price, they will earn higher profits in just a short period. Based on the research, we can see that Coffee Bean focused on non price decisions, but on other factors such as qualities and facilities. Thus in here it is clear that Coffee Bean is using the above – market pricing policy as they do provide the wifi facilities and also the good environment for people to do their business or assignments. It also had show that they target the market most on the youths. The muffins and cookies which cost only less than Rm5 are affordable for the youths but the cakes nd also the pasta set are not affordable for them as they are not working and thus no income for them. They only depend on the pocket money given by their parents. Thus The Coffee Bean should offer their products with lower prices so that it is affordable for the youths to purchase it. Coffee Bean can earn back their profits in the long term. The adults with middle and high income can afford to spend on the products offer by Coffee Bean. For example, although the price for those cups and gifts available in The Coffee Bean are quite expensive, but there were actually people who purchase them especially those with high income. Merchandise Merchandise is being defined as goods, ware, stocks, articles or item to be sold. In another way of defining merchandise is the availability of assortment of products available in the retail shop. For The Coffee Bean ;amp; Tea Leaf or also known as The Coffee Bean in short, offer many types of products such as coffees, teas, cakes, party-packs, pies, cookies, muffins, sandwiches, salads and even hot pasta. They even offer different types of drink menus for their customers. The Coffee Bean does customise to meet the wants and demands of their customers. This is because different consumers have different types of preferences. It can be shown clearly when The Coffee Bean customises their coffees into light and subtle, rich and smooth, dark and distinctive and flavoured. For example the light and subtle coffee is especially for the customers who prefer mild and delicate flavour. Whereas for teas, it is being categorise into black and oolong tea, green tea and flavoured green and herbal and fruit infusion. For such, green, black and oolong teas all have their own signature flavours and aromas, and each will have its own unique set of blends that complements and expands their essence. A mellow Ceylon tea, for example, blended with a delicate peach flavour works the magic sparks of fruitiness with a light floral finish. And to those who dream of having spectrum of aromas and flavours, a cup of oolong tea will be their choice. Furthermore, the cakes being offered can be customised into cheesecake special, signature classic, for kids and special occasions. They also offer the drink menus to suit the taste and preferences of their valuable customers. For such, they offer coffee, espresso, brewed tea, tea latte, non-coffee, coffee ice blended drinks, coffee-free ice blended drinks and many more. Thus with the way of customising their products to suit the tastes and preferences of different customers, it will then help to attract more customers to The Coffee Bean and with customers, retail trade can be done. They also do provide merchandise line depth whereby they allow their customers to choose the size for their drinks whether they want small, regular or large size. In conclusion, customer satisfaction can be met when the retail organisation, The Coffee Bean is being influenced by the customers’ needs and wants. Besides from all these, The Coffee Bean also do offer some gift packs, for example The Holiday Tea Trio which includes three mini square tins each containing five tea bags of whole leaf teas. They are nicely wrapped with ribbon on top of it which makes it attractive for people to purchase them. Although Coffee Bean offer a variety of products for their customer but it may bring some disadvantage such as the taste and aroma of coffees and teas may not be that fragrant anymore as they do not focus on only a particular type of coffee and tea. This may make the good quality of the products offer by them to be turned into bad quality. Therefore, to prevent this from happening, Coffee Bean should only picked up some of their famous products to specialise in and to continually improve on it. Advertising and promotions The Coffee Bean become famous and as a media darling, their brand have been place and promote in hits shows like Entourage and The Hills, to coverage leading publications like Forbes Magazine and the Times. Coffee Bean had advertised its brand not only through the media or magazine but some other ways such as donations, promotions and others. The Coffee Bean have come out with a numbers of examples they been using to reflect the concept of social responsibility and also to promote their brand through donations. It can be shown by the following example; The Coffee Bean made a donation, 50% from their sales item to be donated to serves children with autism, learning disabilities, hyperactivity or attention deficit disorder, mental retardation, and emotional challenges. Through an ongoing commitment, The Coffee Bean ;amp; Tea Leaf ® holds The Help Group’s annual Deck the Walls holiday fundraising program and proudly features the children’s artwork. Their most recent activity is the project of Caring Cup initiatives which planted and nurtured domestically in communities served by the company, as well as internationally in communities which the product originate. The framework of caring cup initiatives is rooted in need; where need from preventing the environment to improving education. Through these, The Coffee Bean will definitely well known in public and as we can see nowadays more and more people will come to purchase from the shops whereby there do a lot of charity work and these charity programs will be part of The Coffee Bean social responsibilities. Beside donation there are a few promotions being used to promote their brand. At times, The Coffee Bean ;amp; Teas also give free drinks today to celebrate the launch of the cafe’s holiday drink line. For example, from 4p. m. to 8 p. m. (11/12) customers can get a free 12 oz holiday drink. Choices include: Peppermint Latte or Ice Blended drink; Pumpkin latte or Ice Blended drink. Besides that, they also promote their famous drinks by posting pictures on the wall and putting up banners outside of their franchises. People who own The Coffee Bean Card may have some benefits too and it acts as a way of promoting and thus can attract their customers to purchase more. By having the card the consumers may enjoy the convenience of debit purchase, the more the people top up the card the more benefit they will get, such as 10% more value and redeemable of other item by having at least 5 point. They do have the holiday promotion. When it is near by the holiday season, they had been preparing some merchandise to go, such holiday cocoas gift set and others. This had helping in promote the brand by his consumer to others. They also have their online advertisement. They are not only having their own web site but they already create their pages in Facebook, Twitter and also Youtube which are the famous connection web on current time. They also post some short video on the web to promote and attract to the customer. With all the relevant aspect, connection and advertisement use by the company, Coffee Bean has successfully passed their information to their customer. Through the promotions of the products by hanging up banners and pictures on the wall sometimes may not contain full information such as the pricing and the nutrition of the particular product. They may only contain attractive pictures on it. In order to solve it, the management of Coffee Bean should publish their nutrition label and the pricing on the banners. With these, customers can get the information of the products they choose and can decide whether to purchase it or not. Besides that, we also noticed that Coffee Bean do not give out brochures as a mean of promotion. This may be a disadvantage for them. If brochures are provided to the passer-by, they may tend to go in to the Coffee Bean to enjoy the products offered by them. As a conclusion, the Coffee Bean should also provides brochures and distribute it to the people so that they can have more information on the offers and promotions offered. Customer service and Selling Customer service is the provision of service to customers before, during and after a purchase. For The Coffee Bean and Tea Leaf, they provide a series of customer service to their customers. Such as, their entire customer can apply for a member card or so called The Coffee Bean Card. Basically, The Coffee Bean Card is a loyalty card introduced to reward regular customers with loyalty points called â€Å"BEANS† which can be subsequently redeemed against purchases at The Coffee Bean ;amp; Tea Leaf outlets (CBTL). With perception, Coffee Bean is a big believer in teamwork (just like Starbucks) as they feel that success is achieved by working together. After our research on several franchises of The Coffee Bean, we noticed that their staffs are efficient, friendly and helpful enough. They maintain amicable relationships between customers and each other. This can be shown when customers ordered their drinks and food at the counter, they served their customers with smiles and when we asked them certain questions for our assignment purpose, they will try their best to answer us. The employees have respect for each other’s values, opinions and individual personalities and are honest and truthful to themselves and each other. Due to this strategy, they can serve their customers in a better way. In addition, Coffee Bean also provided online service which customer can view their website that having the latest news and more information towards their company. In order to let their customer to contact them or get more information towards them, Coffee Bean also provide their headquarter address, email, telephone and even fax number on their website. They even have their website for their customers to comment on their services and products provided. Selling is being defined as trying to make sales by persuading someone to buy one’s product or service. Coffee Bean also did selling. They try to sell out their product as much as their competitors do. Therefore, promotion will exist. Besides that, Coffee Bean tends to sell their product through their good and friendly customer service. Due to the customer service provided by them are good, customers tend to come back to them when they think of having a cup of coffee and enjoying the peaceful environment there. Although most of the Coffee Bean franchises are well organised with their efficient workers, there is a possibility that they do made mistakes to especially in delivering the drinks to the customers or when they prepare the drinks. This can be shown when our group when to one of The Coffee Bean to do our research while having our drinks there; we noticed that they made the drinks for us not according to the size we ordered. For such, we ordered a regular size black forest ice blended and a large size of the caramel ice blended, but during the preparations of the drinks, the staffs made mistakes, everything goes the other way round. These mistakes can be avoided by sending those staffs to more training programs so that they can improve and be more efficient and the operations in The Coffee Bean will be more effective and productive. Location Location is an area that retailing may undergo significant changes in the decade to come. Besides that, retailers have been classified according to their location within a metropolitan area, be it the central business district, a regional shopping centre or neighbourhood shopping centre, or freestanding unit. In order to have the businesses caring out well or to improve the businesses, location and target market can be considered as important factors. For example, if the location that retailers choose is too far away from the town or is it hardly or impossible to find a parking lot to park their vehicles, most of the consumers will choose not to go there. Locations that retailers mostly choose to run their businesses and to earn a profit from there are such as metropolitan area (e. g. : town area), central business district (e. g. : heart of the state) and so on. In Malaysia, most of the retailers would like to operate their businesses at metropolitan and central business district. The reason they choose these places is because the locations tend to attract more consumers to their shops as there were also many hypermarkets and supercenters around. As for this assignment, we carried out a research on The Coffee Bean ;amp; Tea Leaf, The locations that Coffee Bean may choose to run their franchise businesses are basically the two popular locations. Besides that, The Coffee Bean ;amp; Tea Leaf currently has over 750 stores in 22 countries. In addition, in Malaysia currently have over 54 stores. 31 franchises in Klang Valley, 6 in Penang, 1 at Ipoh, 2 in Pahang, 3 in Johor Bharu, 2 in Malacca, 6 in Sabah and 3 in Sarawak. Every Coffee Bean in Malaysia tends to gives people a relaxing and enjoyable environment. The location that Coffee Bean’s retailer pick mostly at those places which can attract more people. The Coffee Bean ;amp; Tea Leaf tends to attract those tourists and people who used to hang out with friends or to those who were carrying out their direct selling with others. For such, after a tired shopping day, most of those shoppers will tend to find a relaxing place for a rest. They can enjoy the coffee and the sweet aroma of teas that are provided by the Coffee Bean. Next is the customers may also enjoy the beautiful scenery around these franchises, for such the beaches. Through these, more of the tourists will pay a visit and spend their time there. Besides that, location such as shopping complexes is also a hot spot for shoppers and tourists to spend their time there either the day or night. Customers can sit and relax themselves; they can also view the shoppers shopping around and can feel the friendliness of the people. Locations that Coffee Bean chooses are also convenient to the entire consumer. Most of the franchises operate at the shopping complex; this is because there are a lot parking places provided for their customers. This will let those consumers to pay more visits to their shops which can provide them with the drinks provided and the good customer service provided. Target Market is the specific group of customers that a company aims to capture. They have been identified as people with needs or wants that can be met with the products or services from the company. The Coffee Bean ;amp; Tea Leaf is targeting the youth, who are teens and working adults in their twenties. This has become a weakness for the firm. The Coffee Bean and Tea Leaf aligns itself with other major brands targeting the youth market. This may lead it to lose some potential market. For example, DOME’s positioning is â€Å"expensive and exclusive† as its target market is basically the professionals, managers, executives and businessmen. But The Coffee Bean ;amp; Tea Leaf’s target market is the youth and who didn’t have strong consumption power. The target market for The Coffee Bean ;amp; Tea Leaf is sensitive to the price issue. The Coffee Bean positioned them well in the target market by a competitive pricing strategy. This pricing strategy likes a threat for The Coffee Bean ;amp; Tea Leaf. Thus the market share and profit for The Coffee Bean ;amp; Tea Leaf are limited. They also target the adults with stable income. The problem on the location is that there were only 54 outlets in Malaysia. For example, Pahang there is only 1 branch but we found out that it may not be enough for the Pahang residents. The people who want to go to The Coffee Bean may need to travel a long distance to reach Coffee Bean. As a recommendation, we recommend that the management of The Coffee Bean should increase the number of outlet in Pahang. Next we also found out that The Coffee Bean target the youth as their main target. Our group feel that the youths who are the zero income earners might not have enough income to spend on the products offer which will be slightly expensive for them. Thus Coffee Bean has made a mistake, they should target adults with medium and high incomes as their main target group as they can purchase the products without worrying that they would not have enough cash to pay. Store layout and design Layout and design is defined as an arrangement, plan, design of a building, book, picture and etc. As we know, Coffee Bean is one of the franchise companies. Most of their layouts and designs are almost the same in every outlet. For example, the theme colour of the outlet. You can see that their outlet mostly is painted in brown colour. Brown colour is a natural, down-to earth neutral colour. It represents warmth, wholesomeness, friendliness and simplicity. With this, it gave their customers a warmth feeling when they are inside their outlet. As the customers enter into the Coffee Bean, they can also notice the pictures of the famous drinks at Coffee Bean are being hang up on the wall. Besides that, the playing of the sentimental music makes the environment calm and relaxing. This makes their customers willing to pay for a higher price for a cup of coffee and enjoy it in such calm and relaxing atmosphere. Furthermore, there are also a counter is used to display their products such as packets of teas and coffees, cakes, cookies, muffins and etc in every outlet. It is well organised, people can easily find the products they want as the products are being arranged in order. Each of the products display is being priced. Customers can choose whatever products they want from there and they can see the price for it. Moreover, in every outlet, there is a menu board at the counter. It shows the menu of coffee drinks and beverages that sell and their price. Customers can refer to the board and make their orders. There is also a small blackboard hanging on the wall which states that what the special offer is for the day. The outlets for most of the Coffee Bean franchises were big enough, there were spacious space for the customers to walk around without asking the others to shift their chairs to allow them to walk pass. The management of The Coffee Bean also placed some plants in their outlets as part of the decorations on the franchise. They do provide magazines for their customers to read. Next is the lighting system in The Coffee Bean franchises. They usually will use the bulbs with orange colour to give people the romantic and warmth feeling. The lights being used by them are those with nice designs on it and are in various shapes. There is also wifi provided for their customers who wants to serve on the internet for the assignments and business purposes. After stating the store layout and design of The Coffee Bean ;amp; Tea Leaf, our group also do noticed some problem on it. For such, the writings on the small blackboard which is used to write what the special offer of the day are too colourful and it is too small as it can make the customers difficulty in reading it. Thus to improve it, they should provide each Coffee Bean franchises with a bigger blackboard and the writings should be change to a bigger size and the fonts which can be easily readable by the customers. CONCLUSION From the report above, we can see that The Coffee Bean ;amp; Tea Leaf has been growing from time to time, but on the way of growing there are several issues that need retailer’s attention and take certain actions to correct and to improve it.. From the research, we found out that most of their customers are youngster and are of the middle income earner, but the price of most of the products offered is around RM10 and above, with this, it may not be affordable for the zero income earners in here the youngsters. As from these, Coffee Bean may need to lower the price of their products. As for the location and the number of outlets of the Coffee Bean, it is shown that there are only 54 outlets of Coffee Bean which operate in Malaysia, 31 franchises in Klang Valley, 6 in Penang, 1 at Ipoh, 2 in Pahang, 3 in Johor Bharu, 2 in Malacca, 6 in Sabah and 3 in Sarawak. As we can see there are unequal balances of outlets located, with this they may need to add more branches on those states which are under stored. Beside this, The Coffee Bean also conducts a small part of host government policy evaluation due to attributed to a lack of resources and reactive approach to market expansion. With this take should pay more attention on it. As on the side of health, a medical report had state on caffeine which conduct in the coffee may cause harm on our health; this had cause the consumers to cut down on the consumption of coffee which contains caffeine. With this, The Coffee Bean may concentrate on tea left beside the coffee. Next, they offer a variety of products and thus they need to choose certain products which are popular among the tastes and preferences of the consumers. For their advertisement and promotions, they should provide more information on it, such as nutrition labels and the pricing on the banners, this not only can attract the customer, and it may also help those consumer make decision on their choice. Although The Coffee Bean franchises are well organized with their efficient workers, but there still have some problems occur, such as mistake in making order, to avoid this problem occur again, they should provide more training to their worker to improve their service system. How to cite Coffee Bean – Malaysia, Papers

Cloud Computing Strategie

Question: Describe about cloud computing strategies. Explain evaluation of business requirements for determining the Cloud computing delivery model. Answer: Introduction There are different cloud computing strategies that are used for the development of the proper storage and thus it also helps in the development and thus it also helps in the development of the strategies and thus it also helps in development of the proper creation of the model and thus the problems are also segregated for the proper development of the strategies for the proper development of the program (Ding, Yu, Zhang, Gjessing, Tsang, 2015). Thus it also helps in the gaining proper accessibility for the establishment of the report and thus it also helps in the development of the proper location and thus it also helps in the generation of the different steps that are helpful for the proper creation of the strategies and thus it also helps in the proper development of the rules for the development of the proper following of the norms regarding the cloud computing and thus it also helps in the development of the cloud provider services. DSI adoption model for the cloud-based OSDS The data storage interface or the DSI model helps in explanation process of the usage of the data storage that is useful for the proper creation of the services that helps in the development of the sequences of the data and thus it also helps in the storage of the data in a sequential order. Thus model is created by the adoption of the cloud based ODDS for the creation of the volume storage for the files (El Houssaini, Nassar, Kriouile, 2014). Thus it also helps in including the DSI protocols that are the WebDAV, NFS, CIFS and the OSD. It also helps in the proper functioning of the billing systems that are related to the data requirement of the allocated space and thus the arrangement of the data can be done with following the proper configuration of the DR. Thus this also helps in the formation of the resource guarantee and also helps in the fruitful consumption process. The application of the DSI model with the proper adoption of the cloud based computing OSDS are the cloud storag e for the purpose of cloud computing, private cloud storage and the public cloud storage. It also helps in expressing the metadata that are required for the proper carrying out of the process that are generally required for the expressing the requirements (Gide Sandu, 2015). Risks involved for migrating the OSDS to a cloud-based provider The risks that are involved with the migration of the OSDS to a cloud service provider are as follows:- Application storage and the data retrieving which cannot be maintained by the cloud computing services. A huge mess is created with the maintenance of the existing setup and thus it shows the decrement of the demand of the availability (Asatiani Penttinen, 2015). Technological reliability leads to the deployment of the cloud usage customers. Added latency are much suffered in the case of using the cloud computing process and it is generally observed during the usage of the internet with the usage of the cloud applications. The debugging of the performance issues are also created with the usage of the hardware that is controlled by someone else and thus it also leads to the loss of the transparency. The design application and the architecture might lead to the complete disturbance of the cloud computing network and thus the modification of the architectures becomes essential (He Wang, 2015). Security steps that DSI takes to secure the OSDS The security steps that are followed by DSI for the purpose of the making the OSDS system fully secured are as follows:- Regular checking of the security coding and the guidelines that are related to the coding helps to get a more secured system. It also helps in fixing the error codes which can be cross checked on the regular basis and thus this is generally occurred due to the Scripting attacks (Kumar, 2016). Proper creation and the maintenance of the data base helps in the proper formation of the secured system. It also helps in providing the passwords that can be stored in the Hashed form so that the encoding of the data becomes tough for the process of hacking. Sever sets are created properly for the proper flow of the data and information. It also helps in providing the information of the attempt of hacking is made or not. Thus this security is created with the proper usage of the SSL security and while accessing the server generates a password for the process of authorization (Low Hsueh Chen, 2012). Evaluation of business requirements for determining the Cloud computing delivery model The evaluation of the current business requirements is used for the proper detection of the process of the cloud computing delivery models includes the cloud computing scenarios that includes the private, public, hybrid cloud and the virtual private (Mohana, 2013). The enterprise private cloud is used for the proper continuation of the cloud resource pool that helps in the creation of the proper network and the firewall protection for the organisation. The virtual private cloud helps in the segmentation of the public clouds with some of the additional features of the security and it helps in the creation of the demand. The hybrid cloud is the combination of two or more clouds that are improved for the utilization and thus it also helps in the proper development and the enhancement of the organisational assets ("MWfSCC: A Migrating Workflow System Based on Cloud Computing Paradigm", 2012). A public cloud is defined as the deployment model where the organisations firewall is pulled out for the creation of the new cloud service hardware and the software assets. Evaluate and design an ICT risk strategy for cloud computing delivery plan The new ICT risk strategies that are used for the proper mitigation of the risks for the process of the cloud computing delivery plan are as follow:- Supplier market is slowed for the adapting the new ICT market landscape. The mitigation of this is the strong engagement of the clarifications that should be made to the suppliers for the purpose meeting the long and the medium terms requirements (Sumathi Kirubakaran, 2013). Dependency created between the responsibilities of SRO which creates the strategy along the progress dependency and thus the dealt is not done in a timely manner. The mitigation for this is the proper management of the portfolio and the proper understanding the dependencies that are created for the proper development of the programmes. The prioritising of the critical deliverables is also required for the creation of the strong communication system. Thus it also helps in linking the project and the different communications that are required for the proper creation of the key strategic areas for the proper development of the systems (Tivey Pearson, 2015). Existing contract and the agreements helps in the prevention of the implementation of the key components delay. Thus the mitigation to this problem helps in the proper procurement of the commercial strategies and thus it also helps in the creation of the medium and the long term alignment for the ICT strategy and the commercial approach (Wright et al., 2012). Conclusion The details of the cloud computing usage that depicts the evaluation and the designing of the ICT risk strategy for the cloud computing strategy also helps in the creation of the proper delivery plan for the cloud computing systems. This project also shows the Security steps that DSI takes to secure the OSDS and the Evaluation of business requirements for determining the Cloud computing delivery model are also shown in this project (Udoh, 2012). The details of the cloud computing usage and the risks with the mitigation process and the safety measures are also provided in this project for the proper development of the project completion. References Asatiani, A. Penttinen, E. (2015). Managing the move to the cloud analyzing the risks and opportunities of cloud-based accounting information systems.Journal Of Information Technology Teaching Cases,5(1), 27-34. Ding, J., Yu, R., Zhang, Y., Gjessing, S., Tsang, D. (2015). Service provider competition and cooperation in cloud-based software defined wireless networks.IEEE Commun. Mag.,53(11), 134-140. El Houssaini, C., Nassar, M., Kriouile, A. (2014). A Governance Based Architecture for Enterprise Cloud Computing Adoption.International Journal Of Cloud Applications And Computing,4(3), 54-67. Gide, E. Sandu, N. (2015). A study of the current situation of adoption of Cloud based services in Indian SMEs.Global Journal Of Information Technology, 18. He, W. Wang, F. (2015). A Hybrid Cloud Model for Cloud Adoption by Multinational Enterprises.Journal Of Global Information Management,23(1), 1-23.