Disney Case Analysis free essay sample

It is 1984, and Disney is the target of a potential takeover by notorious greenmailer Sual Steinberg. Disney is faced with the option of fighting the takeover through the courts and media, or to repurchase Steinberg’s shares, in effect, giving in to his greenmail attempt. However, there are many other important issues which are facing Disney. These range from Disney’s abysmal return on investment in recent theme park investments, to the complete failure of Disney’s motion picture division, to Disney’s alarmingly high dividend payout rate. In the following four sections, we will address these four issues Disney faces and recommend solutions to improve the financial health of Disney. Theme Parks Issue Recently, Disney has been following a bad investment policy. Disney invested a total of $1. 9 Billion in Epcot over a 6 year period and has increased its capital expenditures on theme parks by a total of $1. 277 Billion from 1981 to 1983. Despite these massive investments in its theme parks, Disney has only earned a return of 4% on Epcot and an overall return on Theme Park assets of 6% in 1983. Disney needs to find a way to more efficiently invest its capital and produce greater returns on its investments. Analysis In order to understand why Disney’s Theme Park investments have been so unsuccessful, we must analyze a number of different contributing factors. Why Disney is investing in Theme Parks? In order to understand why Disney is investing in Theme Parks, we need to take a look at the financial results of Disney’s different segments. Out of Disney’s 3 segments, Entertainment and Recreation (or theme parks) is Disney’s only segment which is nicely growing its profits in addition to attaining a healthy profit margin. Motion pictures is currently suffering, and actually losing money. Whereas, Consumer Products is producing profits and holding the greatest profit margin, however profits are not growing significantly. After looking at this analysis and nothing else, it appears as though Entertainment and Recreation is Disney’s most profitable segment and the one which they should be investing in. This is exactly what Disney is doing. Why are additional Theme Parks are the Wrong Investment? Before the expansion on new theme parks, Disney’s older theme parks had enjoyed much success. As recently as 1978, Disney’s Entertainment and Recreation segment had experienced a return on assets of 15. 7%. However, as Disney introduced new theme parks, they reached a point where the optimal supply of theme parks had surpassed the demand. This â€Å"oversupply† of theme parks can be seen by taking a look at the United States Demographic data provided in the case. First, it must be understood that Theme Park attendance, and in turn revenues, are driven by the younger demographic. According to the information above, the population group that drives Theme Park revenues (0 to 14 years old) is actually shrinking from 1970 to 1995. This represents a decrease in demand for Disney’s Theme Parks. Yet, at the same time, Disney is investing in and opening new theme parks. Essentially, Disney is increasing the supply despite a decrease in demand. This is counter intuitive by any economic standard. To further back the claims that Disney’s increased investment in theme parks is a bad move; let’s quickly analyze some measures of financial performance for their theme park segment. Clearly, the Entertainment and Recreation segment has experienced an abysmal return on assets recently. These numbers are even more disappointing when considering the Entertainment and Recreation segment produced an ROA 15. 7% as recently as 1978. Disney has made the wrong move in investing heavily in additional theme parks despite the population decrease in its main customer segment. In order to improve Disney’s position, it must make some changes. Suggested Changes Overseas Theme Parks The demand for additional theme parks does not exist in the United States, as can be seen from looking at the demographic data above. Therefore, there is no reason for Disney to continue expanding and investing in additional United States theme parks. Disney needs to immediately stop United States theme park expansion. However, this does not mean that Disney must stop investing in theme parks altogether. Disney should look to other countries where there is a demand for theme parks. By looking for countries where the demographics are in their favor and there is sufficient demand without oversupply, Disney can begin to earn sufficient returns on their theme park investments. Management Change Disney’s management should have foreseen the downside of overexpansion. It’s even possible that management did realize the lack of demand, however they may have wanted to extract us much demand as possible by building more theme parks. Either way, the decision to invest so heavily in theme parks despite their main market segment shrinking for the foreseeable future is incomprehensible. Earning a ROA of 6% in 1983 on theme parks assets when a 1983 T-Bill earns 8. 86% shows an abysmal utilization of assets. Management responsible for the decision to invest so heavily in theme parks needs to be fired from the company. Implementation How to Expand Overseas First, Disney needs to conduct market research in numerous modernized foreign countries. The focus of this research needs to be on the demand levels for a theme park, and whether the demand outweighs the current supply of theme parks in each country. Once Disney chooses the country with the most favorable supply and demand situation, it can begin analysis to determine whether or not they should actually construct a theme park in that country. They will estimate costs and future cash flows in order to conduct a NPV analysis in order to determine whether or not Disney should actually construct a theme park in that country. How to Implement Management Change Ask around management, and conduct interviews with high level managers in order to determine who was responsible for the decision to invest more heavily in theme parks. Once you have identified the main individual or individuals responsible for the decision, you let them know that they are being let go for their ineptitude. Then, search for top management at other similar companies (or any promising prospects within Disney) to fill the open positions. Motion Pictures Issue The motion pictures business has been historically one of Disney’s strongest segments since the company was founded. Over the years, classic films like Snow White and Cinderella have provided valuable revenue streams for the company. Films have accounted for a significant amount of Disney’s earnings and had a large impact on the performance of the company. However, in recent years the motion picture segment’s performance has been lackluster and recording an operating loss of $33. 3M in 1983. The recent failures in the motion picture segment had a profound ripple effect on Disney’s financial performance. Just two years ago the same division boasted a 17. 59% profit margin and operating income of $34. M. Analysis The recent missteps can be attributed to a failed TV channel startup, lack of a blockbuster movie hit, and the cancelation of a new Disney TV show on CBS. Although the film industry in general was suffering in 1983, the performance of Disney’s motion pictures division was abysmal. Suggested Changes New Management Performance in this division has steadily declined over the past three years. New talent needs to be brought in to help revitalize this division. Disney has been a household name since the advent of cinema and should not be lagging behind their rivals. Management needs to be held accountable for these failures. Increased Investment in Film Disney has arguably been one of the most successful film companies in the world since it was started in 1923. Creating, distributing, and selling films have been a core competency of Disney for many years. Disney needs to invest more money into creating innovative films and future blockbusters. For the past several years, there has been a disparate amount of funds invested into their park business compared to the motion picture segment. Disney needs to focus on their core competency of film and invest into motion pictures. Historically, this business has proved to be lucrative and these additional resources will help finance future blockbuster movies. Implementation How to Acquire New Management Currently, many of the Disney executives worked under Walt Disney, himself, and often won’t accept projects due to the reasoning that â€Å"Walt wouldn’t do that†. It is hard for creative talent to come up with great ideas and have them put down without any reasoning, other than a dead man wouldn’t have approved their ideas or projects. The current executive’s ties are too strong to the late Walt Disney and at least some of them need to be replaced with fresh blood. Fire the executives who are the most repeat offenders of the above mentioned offense. In order to replace them, we suggest that Disney looks to other top movie studies for executive talent. How to Increase Investment in Film While Disney is halting its theme park expansion in the United States and conducting market research overseas for new sites, a lot of additional capital will be lying around waiting to be invested. Once the new executives are in place, we suggest that Disney allocates a considerable amount of its free capital to motion pictures and see what kind of results that its newly hired executives can produce. Dividend Policy Issue One of the many vital points of interest that Ron Miller must address as Disney moves into the future is making a decision on its dividend policy. When looking at the dividend policy of the company, it is critical to conduct a financial ratio analysis of the company. Upon doing so, certain trends can be noticed. One of these noticeable trends happens to fall within the dividend payout rate. For over a decade, the dividend payout rate fluctuated only slightly staying in the range of 4% to 8%. Then beginning in 1978, the dividends began to increase exponentially arriving at a rate of 44. 4% only five years later in 1983. This five year spike in the dividend payout rate has come at the same time as the earnings per share continue to fall. This immediately should raise concerns for the financial security of the company. Analysis In deciding on a dividend policy, it is crucial for the company to decide how growth oriented it would like to be. Speaking simply, the mor e dividends Disney decides to pay out, the less retained earnings it has to put into future positively valued projects. This can be seen in the company’s sustainable growth rate. Calculating for 1883, the growth rate is only 3. 70% Given the large dividend payout rate of 44. 44%, Disney cannot grow with retained earnings at anything more than a modest 3. 70%. If Disney wanted to grow more than that, it could consider taking on more debt. The company has historically been averse to taking on too much debt and will most likely want to continue that trend into the future. If Disney wants to continue to grow without taking on debt, the company will need to consider lowering the dividend payout rate. Suggested Change Lower Dividends To align the dividend payout rate more closely with earnings per share along with setting the company up for more future growth projects, it is crucial in Disney’s financial planning that they cut back the dividend rate. It is our suggestion that Disney reduces its dividend so that its dividend payout ratio is in line with its historic payout of about 7. 50%. This will require Disney to cut its dividend down to $. 20 per share (based on 1983 EPS of $2. 70 per share). Decreasing the dividend to $. 20 per share would nearly double Disney’s sustainable growth rate, increasing it to 6. 16%. As a result, Disney would be able to finance more projects through retained earnings and continue to keep its leverage down. Implementation How to Lower Dividends Obviously, shareholders are not going to be happy to hear that you want to cut the dividend by 83%. This is why you have to issue a press release for general shareholders and at least a conference call or meeting with major shareholders to inform them of your intentions. During the conversation with shareholders, you are going to have to explain how it was a mistake in the past to increase dividends as earnings per share continued to slide. Let the shareholders know that you are going to correct this mistake now, rather than letting it continue to slide. Finally, mention that decreasing dividends will also help Disney remain a financially healthy company by keeping its debt low. Corporate Takeover Attempt Issue Possibly the most important issue faced by Ron Miller and the leadership of Walt Disney Productions is the imposing takeover attempt by well-known corporate raider, Saul Steinberg. This attempt has been sparked by Walt Disney’s current financial situation and performance. Currently, Disney seems to be an ideal target for a takeover. Disney has a great amount of cash on hand, totaling about $18 million. This, along with Disney’s underperformance and inefficiencies, are strong motivating factors for Steinberg’s attempt. It is likely that Saul Steinberg believes Walt Disney Productions to be undervalued. This is a conclusion shared by most raiders about the targets in takeover attempts. Disney is currently trading at $50 per share. Steinberg just initiated a tender offer for 49 percent of the company for $67. 50 per share. This is where Ron Miller must face a difficult decision by giving in to the greenmailing attempt by agreeing to purchase back Steinberg’s shares at a premium, or letting Walt Disney Productions fall victim to a takeover. Analysis It is essential for the future of Disney for us to examine the value of the company. From there, Disney must decide at what price, if any, should they buy back Steinberg’s shares. As stated earlier, Disney’s stock has been recently trading at $50 per share. (Graph) For our analysis of valuing the company, we calculated a WACC of 16. 6%, as well as three different possible growth rates of 8%, 11%, and 13%. From these calculations we were able to surmise an estimated company value of $68. 12 per share. This would lead us, as well as Saul Steinberg, to believe Disney to be undervalued. Recommendation Don’t Buy Steinberg’s Shares To successfully ward of Steinberg and his attempted takeover, Disney must offer him a hefty premium for the purchase of his shares. With his ownership of 12% of the company and his recent attempt for 49 percent of it, a pivotal decision must be made. However, after valuing the company and weighing possible options, we have come to a recommendation. For the sake of both the shareholders and stakeholders of the company, it would be not be wise to buy the shares owned by Saul Steinberg. A decision to succumb to Steinberg’s greenmail would greatly cripple the company from a financial standpoint. If Disney were to buy his share of the company, investors would experience a huge decline in their shares. Such a decision would be made solely to preserve the jobs and welfare of top managers of the company. Disney would be failing to maximize shareholder value, thus weakening Disney’s position in the market. We concluded that in order to avoid the takeover attempt, Disney would have to pay Steinberg $69 per share. This is $0. 88 more than our estimated value of the company and a 38% premium with respect to the current share price. This would leave Saul Steinberg with $289. 8 million, or a profit of $24 million at the expense of Disney’s shareholders. Implementation Don’t Buy Shares, Improve Company Instead of buying the shares, Disney should focus on cleaning up its act as a financially sound company, as well as a leader in its respective industries. With the likely replacement of Ron Miller and top executives, Disney would find itself in a position to change its current business policies. Disney is already highly capital intensive, with the recent increased spending on theme parks. The company should not be acquiring more debt by purchasing two new companies with no apparent synergies. Disney should immediately dump these unwisely obtained businesses. The money from these sales would enable Disney to invest in new business ventures, like expanding abroad and tapping into new markets.

Risk of Cyber Security in the Business-Free-Sample for Students

Question: Discuss about the Challenges in Cyber Security for Business. Answer: Introduction The literature review is the section which provides the secondary data details on the topic of research. The topic of research is Challenges in Cyber Security for Business for which different sources have been used to gain information and data. By Cyber Security we mean the protection of the valuable information and intellectual property of business which is in digital form from theft and misuse. Cyber security is an issue which is increasing in the todays global businesses. As per the US Government, Cyber security is one of the most critical ad serious issues which the businesses are facing these days. This challenge is faced by almost every country these days as the technology is growing and evolving. The coming age of Big Data, Internet of things and automation, the risk of Cyber security is increasing (Pandey, et al., 2016). Project Objective The main objective of the project is to identify the causes and factors which lead to the risk of Cyber security in the businesses. One more objective is to find out what cyber security challenges are present in the businesses. Project Scope The scope of the project is wide. It is because the topic of the research is one of the most critical issues the businesses are facing these days and there is lot to discuss on the topic. The literature review will include various real life examples to set up a clear understanding on the topic. The various forms of challenges and the causes of the same will be discussed by going through various journals, articles and web sources Literature Review AS the globalisation is evolving, majority of risks to business are seen due to technology. Cyber security has become a major challenge for the businesses and is growing at an alarming rate. There are different types of cyber threats like malicious attacks, attacks on networks and network abuse (Choo, 2011). Cyber security can be termed as the techniques used for the protection of businesses and computer systems from the unauthorised access and other cyber threats. As the cyber threats are increasing, the companies should adopt the approaches which help them in fighting with the complexity of the threats. Cyber security is a big issue because it has dramatically strengthened itself in past few years (Hutchings, 2012). According to Kaplan, Sharma Weinberg (2011) 46 per cent of the population of world is connected to internet which increases the chances of threats and cybercrime. Cyber security is a bigger issue now and it has been proved by conducting research on 25 global companies and the results shows so. The research found four common trends which includes that the digital data has become more widespread. It is also found that the corporations are now more open as compared to before. It also shows that the supply chains now are interconnected and that is how the attacks on technology are increasing. While technology is helping businesses to bring innovations in business, it is also creating so many threats for the businesses. The cyber security in business faces many risks in present business environment which are explained below: Ransomware It is the latest risk which prevents the users from accessing the significant information on their systems until they make a payment to the cyber criminals. The criminals tried to make more money once they were able to attack a user. The Internet of Things (IOT) The cyber criminals could make an access to the sensitive information contained by the user in their systems and this is a major privacy threat to the users. As per McAfee Labs 2017 Threats Predictions, around 1.78 million of devices will be in the hands of consumers and it will give more chances to hacking (Barclay Simpson, 2017). Social Engineering Social engineering involves manipulating the individuals to reveal their significant data and the information through the techniques of phishing. As per the data in recent year, these incidents have increased by 65% in 2016 as compared to 2015. Mobile Malware As the mobile usage is increasing day by day for the business tasks, there is more opportunity given to the cyber criminals to identify the weaknesses in the technology. As per the Kaspersky Lab, the attacks of mobile malware have tripled between the years 2015 and 2016. Fake Advertisements and Feedbacks The consumers nowadays are getting lots of advertisements at online platforms in which most of them are fake. These are phishing activities which affect the businesses and the consumer security measures (Barclay Simpson, 2017). In the opinion of Elmaghraby and Losavio (2014), many challenges are emerging due to the excessive use of technology. There are many instruments which are used in the businesses nowadays for making their operations easier but in return they face concerns such as privacy and this may affect their routine operations. Similar to this Tiwari, Bhalla Rawat (2016) suggests that Cybercrime has become inescapable because the sharing of networks and information has become so common in businesses. Cyber security is a mechanism which protect the computer systems and equipments from the unauthorised access. This will have positive impact on society and businesses. The typical cyber threats by which the business should be aware of includes Botnets, Malwares, Hacking, Phishing, Spam, Virus, Worms, etc. The author adds that Cybercrime have severe disruption in the businesses. It is a crime against business (Nojeim, 2010). Cyber security is when the properties or information of businesses are protected from the thefts and risks. Cyber security also provides some of the prevention tips to save itself from cybercrime. The users are advised to keep the defence systems up to date and to make sure that the systems are safe and secure. The users are advised to choose strong passwords and have security checks at regular intervals. The unfamiliar mails should not be touched and safe browsing should be encouraged. It can be said that in the modern era where technology plays a main role, cybersecurity is encouraged to have security from the cybercrime. Security has become a major concern and it should be taken as an integral part of the industry (Basamh, Qudaih and Ibrahim, 2014). In the opinion of Deore Waghmare (2016), Security of cyber information has become one of the greatest challenges across the world. Internet nowadays is used in almost each and every industry like ecommerce, communications, finance, banking and many more and this increases the chances of cyber-attacks for stealing the important data and information. Cyber security plays an important role in the ongoing development of IT. The cyber security faces number of challenges in fighting with the cybercrime. One of the main challenges is heavy dependency on Internet and Communications technology (ICT). ICT is nowadays used in businesses on a large scale and is a part of everyday life. This gives more chances to the attacks on the networks and infrastructures. The second challenge can be the increase in the number of users (Abomhara, 2015). As the popularity of internet is growing, the users are increasing cross the world and the number of targets for the attackers is also increasing. The third challenge is availability of devices and access to those devices. If an offense is to be committed it needs devices for the purpose. Software tools are available easily which contributes in promoting the cybercrime. This encourages the criminals to commit such crimes. The next challenge can be the availability of information. There is millions of webpages on the internet and it contains updated information. So the offend er targets the ones which have weak password protection systems and access the information. That information might be used for the wrong purposes which could cause serious security issues to the business. Another challenge is lack of mechanisms of control. In every communication network, there is a need of central administration to ensure the operability. There is a need of laws, governance and standards which can have certain degree of control on the networks. The international dimensions of the business also create a challenge for the security of information and networks. This affects the cyber security in different nations (Wright, Dawson and Omar, 2012). Automation is a challenge for the cyber security of business. ICT has the ability to automate the processes and it also has many consequences. Automation can provide opportunity to the offenders to send spams in bulk and attack thousands of the systems in hours. Spams may be a serious issue in the developing countries and many victims can be created. Availability of resources and speed of data and exchange. The speed of data exchange has led to the fastest exchange of cybercrime. It takes few seconds for the criminals to exchange emails and viruses. Another challenge is anonymous communication where the origin of communication is not known. Because of this, the identity of the offenders is difficult to make. Like they can use fake email ids and offend the privacy of the secure information (Clemente, 2013). As per Babate, et al. (2015), the lack of leadership is also considered as one of the major challenges of cyber security. Security is maintained when there is a trust maintained between technology and people using it. So, leadership is needed to handle the challenges and issues occurring because of technology and people. Collaboration needs to be maintained which helps in meeting challenges of cyber security. People are needed to be educated so that the security can be maintained by the cyber security cells. It is seen that the people are not getting enrolled in the courses of cyber security which is creating more challenges. When people will be educated in this course, they will be able to handle the issues of the industry of Australia. The cyber-attacks have been increased in the last few years and for that a framework needs to be created. This framework should include the roadmap which could bee adopted to fight the challenge of fighting the cybercrime. There are some of the long term challenges which affect the cyber security efforts taken by the industry (Fischer, 2016). These challenges include the lack of proper designs of security systems, the lack of incentives which are given to the cyber criminals. That is why; they look out for an easier option and go for cybercrime. Also the lack of consensus from all the stakeholders creates problems for the cyber security cells (Gharibi and Shaabi, 2012). Government has taken various steps to meet the challenges of cybercrime. These include the monitoring systems and security of network. The government have taken steps like drafting the cyber security law for facing the risks of cybercrime. The plans are made to design the approaches to meet these risks. Different countries take different steps to meet the challenges like China has made cyber security laws while US, reforms are developed to improve cyber security. In the corporate world, the condition of cybercrime is getting worse year by year but the steps are planned to be taken to get over this. US have increased their budget of cyber security by 35% which shows that the problem is increasing and will continue in the coming years (James, 2016). As per James (2016), the businesses, government and individuals should double their protection of cybercrime. The average cost of a cybercrime attack is approx. $276000. In USA, it costs approx. $100 billion per year. People lack in knowled ge about cyber security which increases the risks gradually. There are 1404 cyber security vendors in the world and Australia have only 15 out of them whereas the other countries like UK, USA, India, Israel have 76, 827, 41 and 228 cyber security vendors respectively. As per the data given by McAfee 2016 Threat Predictions, in the next five years the volume and type of personal information which is tracked and stored will change. The autonomous systems are the next technology which integrates with operating technology and blend together to solve the issues of cyber security. According to Foreshew (2017), the businesses of Australia are facing the cyber security crisis as there is not enough staff with expertise to face the threats. So, the demand for the cyber security specialists is at peak. This is a real challenge to meet this demand. There is also problem of funding. Where on one other the other countries like USA is spending more than US$200 million on RD investment for cyber security, Australia is lacking in this area. It is currently spending less than $100 million for the same. For cyber security research, the nation could spend and invest more. There is also weak collaboration between the research and industry. Only 3% of the businesses collaborate with the universities and with other research institutes. The situation in the Australian Cyber security industry is Ambiguous. The industry of cyber security is getting funds from the corporations like Common wealth Bank of Australia, Telstra, Optus and more. The government also invests in developing the Australian Cyber Security Research Institute (ACSRI) which provides RD facilities across Australia. There are some universities as well which in collaboration with companies and government helps in developing the cyber security industry of the country (Foreshew, 2017). In Australia, Cyber security is important to be taken seriously as the use of information systems, networks and Internet is more and government should come up with better control systems to meet these challenges. In this, every stakeholder has to play their roles. These include the companies, government and individuals. The individuals should handle the data well at the workplace while the companies should take effective measures for the security of data. They should provide trainings to their workers to handle data well. The government should make regulations and laws which can be proved effective in managing the security of the business (Foreshew, 2017). Conclusion It can be concluded that many techniques and softwares have been developed for handling the cybercrime. For the privacy of data and information of the businesses, cyber security measures have been adopted and the challenges to these measures have been discussed in the literature which is collected through various sources. The literature explains different types of challenges and what all steps different countries are taking to meet these challenges. It is concluded that Energy, Banking and Communications were the top three targets of cyber criminals. But there are opportunities in the coming year as the awareness has been increased for cybercrime. The industry is employing more people for meet the challenges and resolve the issues. It can also be concluded that there are some pillars of cyber security which can resolve the issues of the same. It includes Education and awareness about the matter, planning and preparation about the same in advance, sharing and collaboration to meet the current and future risks and Ethics Collaboration to have professional field of expert. Cyber security is important to the economic future of the country and for the society as well. As thee economy and society will get developed, the cyber security will become more significant to be developed. Good cyber policy is required for the cooperation and creativity in the industry. References Abomhara, M Koien, G M 2015, Cyber Security and the Internet of Things: Vulnerabilities, Threats, Intruders and Attacks, Department of Information and Communication Technology. Abomhara, M 2015, Cyber security and the internet of things: vulnerabilities, threats, intruders and attacks,Journal of Cyber Security and Mobility,4(1), pp.65-88. Australian Cyber Security Growth Network, 2017, Cyber Security Sector Competitiveness Plan. Retrieved from https://www.acsgn.com/wp-content/uploads/2017/04/Cyber-Security-SCP-April2017.pdf. Babate, A I, Musa, M A, Kida, A M Saidu, M K 2015, State of Cyber Security: Emerging Threats Landscape, International Journal of Advanced Research in Computer Science Technology, Vol. 3, Issue 1. Barclay Simpson, 2017, The top 10 cyber security challenges for businesses, Retrieved from https://www.barclaysimpson.com/news/the-top-10-cyber-security-challenges-for-businesses-news-801833525. Basamh, S S, Qudaih, H A and Ibrahim, J 2014, An overview on cyber security awareness in Muslim countries,International Journal of Information and Communication Technology Research,4(1), pp.21-24. Choo, K K R 2011, The cyber threat landscape: Challenges and future research directions,Computers Security,30(8), pp.719-731. Clemente, D., 2013,Cyber security and global interdependence: what is critical?. Chatham House, Royal Institute of International Affairs. Deore, U D Waghmare, V 2016, A Literature Review on Cyber Security Automation for Controlling Distributed Data, International Journal of Innovative Research in Computer and Communication Engineering, Vol. 4, Issue 2. Elmaghraby, A S and Losavio, M M 2014, Cyber security challenges in Smart Cities: Safety, security and privacy,Journal of advanced research,5(4), pp.491-497. Fischer, E A 2016, Cybersecurity Issues and Challenges: In Brief, Congressional Research Service. Foreshew, J 2017, Australia faces cyber security skills crisis as challenge, Financial Review. Gharibi, W and Shaabi, M 2012, Cyber threats in social networking websites,arXiv preprint arXiv:1202.2420. Hutchings, A 2012, Computer security threats faced by small businesses in Australia, Trends and Issues in Crime and Criminal Justice, (433), p.1. James, C 2016, Cybersecurity: Threats Challenges Opportunities, ACS. Kaplan, J, Sharma, S Weinberg, A 2011, Meeting the cybersecurity challenge, McKinsey Company. Nojeim, G T 2010, Cybersecurity and Freedom on the Internet,J. Nat'l Sec. L. Pol'y,4, p.119. Pandey, S, Shah, N, Sharma, A and Farik, M 2016, Cybersecurity Situation In Fiji,International Journal of Scientific Technology Research,5(7), pp.215-219. Tiwari, S, Bhalla, A Rawat, R 2016, Cyber Crime and Security, International Journal of Advanced Research in Computer Science and Software Engineering, Volume 6, Issue 4. Wright, J, Dawson, M E and Omar, M 2012, Cyber security and mobile threats: The need for antivirus applications for smart phones,Journal of Information Systems Technology and Planning,5(14), pp.40-60.

The Proposal Essay

The Proposal EssayThe idea of the so-called modest proposal is to present a statement in writing that can be accepted by the interviewer who will read the document. However, it has been proven time and again that an average proposal will fall short when it comes to meeting the requirements of the interviewer.This is why it is important to begin with a thorough research about your chosen modest proposal essay topics. In most cases, the topics are set by the company that will be hiring you. Therefore, you must take into consideration what kind of job will you be interviewing for.While it may seem like a lot of work to start from a realistic perspective, it is essential in order to prepare yourself to provide a message that will make the interviewer happy. As such, it is necessary to examine what you would actually be expected to bring to the interview, as well as what you would not want to be asked about. For example, many people wonder if they should mention their skill or interest in particular areas.Well, if you have a reputation for being an excellent writer, then it would be okay to simply mention these qualities in your essay. However, if you do not have a reputation for being exceptional in any area, then you may want to keep it to a minimum.What is more important is that you define the right tone for your proposal essay topics. Do not overdo it. For example, if you are applying for a job as a project manager, then consider setting a tone of 'Manager and Project Manager.'What this means is that you will be setting the tone for the employer so that they will see that you are also knowledgeable about the company's point of view. What is important is that you have done your homework prior to even beginning to write your proposal. This is very important so that the document is tailored specifically to what it needs to be.After you have set up your modest proposal topics, you will want to get started on the actual writing. The main thing is to understand how lo ng it will take you to complete the project. Keep in mind that each proposal should be completed in one day.

William Shakespeare Was Born On April 23, 1564. He Was Baptized On Apr

William Shakespeare was born on April 23, 1564. He was baptized on April 24, 1564, in Stratford-upon-Avon, Warwickshire. He was the third of eight children born to John Shakespeare and Mary Arden. John was a well-known merchant and Mary was the daughter of a Roman Catholic member of the gentry. Shakespeare was educated at the local grammar school. According to history, Shakespeare was the eldest son, and he should have been the apprentice to his father's shop so that he could be taught everything his father knew and soon take over the business. But instead he was the apprentice to a butcher because of the trouble in his father's financial situation. Another story says that Shakespeare became a schoolmaster. Shakespeare was allowed a lot of free time when he was young. This was suggested by historians that his plays show more ideas of hunting and hawking than do those of other play writers. In 1582 he married Anne Hathaway, the daughter of a farmer. He was thought to have left Stratford after he was caught poaching in the deer park of Sir Thomas Lucy. He was a local justice of the peace. Shakespeare and Anne Hathaway had a daughter in 1583 and twins- a boy and a girl- in 1585. The boy however, eventually did not live. Shakespeare apparently arrived in London around 1588 and by 1592 had gained success as an actor and a playwright. Shortly after that, he secured the business of Henry Wriothesley, 3rd earl of Southampton. The publication of Shakespeare's two poems Venus and Adonis (1593) and The Rape of Lucrece (1594) and some of his Sonnets (published 1609), established a reputation for him as a talented and popular Renaissance poet. The Sonnets describe the devotion of a character to a young man whose beauty and charm he praises and to a mysterious and untrue woman with whom the poet is afraid. The following triangular situation, resulting from the attraction of the poet's friend to the woman, is treated with passionate intensity and psychological insight. However, Shakespeare's modern reputation is based mainly on the 38 plays that he wrote, modified, and collaborated on. When in his days, these plays frequently had little respect by his educated friends, who considered English plays of their own to be only tasteless entertainment. Shakespeare's professional life in London was marked by a number of financially beneficial arrangements that allowed him to share in the profits of his acting company, the Chamberlain's Men, later called the King's Men. The acting company had two theaters, the Globe Theatre and the Blackfriars. His plays were given special presentation at the courts of Queen Elizabeth I and King James I more frequently than those of any other coexistent writer. It was known that he risked losing royal favor only once, in 1599, when his company performed "the play of the deposing and killing of King Richard II" at the request of a group of conspirators against Elizabeth. They were led by Elizabeth's unsuccessful court favorite, Robert Devereux, 2nd Earl of Essex, and by the earl of Southampton. In the later study, Shakespeare's company was cleared of dealing with the conspiracy. After 1608, Shakespeare's dramatic production lessened and it seemed that he spent more time in Stratford. There he had secure family in a wealthy house called New Place. Shakespeare had become a leading local citizen. He died on April 23, 1616, and was buried in the Stratford church.

Free Essays on Understanding Modern Theories Of Crime

Understanding Modern Theories of Crime Natural theories of crime generally rely upon phenomena in the physical world (e.g., poverty, genetic abnormality, cognitive impairment) to explain criminal conduct. Modern theories are linked to one of three frames of reference by and through which crimes, criminals, and the behavior of the criminal law are defined. These three modernist approaches include choice criminology3, causal criminology4, and constructivist criminology.5 Choice criminology asserts that people make rational decisions and that these decisions are freely chosen. Thus, criminals are recognized as intelligent enough to understand the consequences for their wrongful behavior (i.e., punishment and imprisonment) as much as they are clever enough to appreciate both the pecuniary and personal benefits for breaking the law (e.g., Stigler, 1970: 526-528; Vold and Bernard, 1986: 31; Reynolds, 1985). Causal criminology maintains that individual accountability must be examined in the context of independent variables which are said to cause criminal conduct. In this model, explanations of crime can be based on either a single factor or a variety of factors. These factors are said to determine the behavior of an individual and, therefore, are beyond his/her control. Early constructivist criminology considered the manner in which people helped fashion the world in which they found themselves. The processes which gave rise to the definitions of certain behaviors (and individuals) as criminal became the cornerstone of the early constructivist movement (for applications to law and the criminal sanction see Black, 1976). These criminological and sociological processes were subject to empirical verification through standard tests of reliability and validity (Lynch, 1987). Indeed, constructivist criminology has shown us, for example, how affluent and indigent people are both capable of breaking the law but how poor ... Free Essays on Understanding Modern Theories Of Crime Free Essays on Understanding Modern Theories Of Crime Understanding Modern Theories of Crime Natural theories of crime generally rely upon phenomena in the physical world (e.g., poverty, genetic abnormality, cognitive impairment) to explain criminal conduct. Modern theories are linked to one of three frames of reference by and through which crimes, criminals, and the behavior of the criminal law are defined. These three modernist approaches include choice criminology3, causal criminology4, and constructivist criminology.5 Choice criminology asserts that people make rational decisions and that these decisions are freely chosen. Thus, criminals are recognized as intelligent enough to understand the consequences for their wrongful behavior (i.e., punishment and imprisonment) as much as they are clever enough to appreciate both the pecuniary and personal benefits for breaking the law (e.g., Stigler, 1970: 526-528; Vold and Bernard, 1986: 31; Reynolds, 1985). Causal criminology maintains that individual accountability must be examined in the context of independent variables which are said to cause criminal conduct. In this model, explanations of crime can be based on either a single factor or a variety of factors. These factors are said to determine the behavior of an individual and, therefore, are beyond his/her control. Early constructivist criminology considered the manner in which people helped fashion the world in which they found themselves. The processes which gave rise to the definitions of certain behaviors (and individuals) as criminal became the cornerstone of the early constructivist movement (for applications to law and the criminal sanction see Black, 1976). These criminological and sociological processes were subject to empirical verification through standard tests of reliability and validity (Lynch, 1987). Indeed, constructivist criminology has shown us, for example, how affluent and indigent people are both capable of breaking the law but how poor ...

Global communications Essay Example | Topics and Well Written Essays - 2500 words

Global communications - Essay Example ntinued to evolve as the marketers come to the realisation of how to communicate efficiently through modern-day advertising methods across a range of multifaceted and progressively competitive international marketplaces. This variety of marketing involves instituting a website, and then choosing interactive types of advertising; with the strategic intent being to cater to the domestic markets clients (Fill, 2005). In defining the functions of global marketing, the inferences for worldwide interactive advertising are usually centred on an ethnocentric market. This approach could be viewed as standardised. In the hybrid strategic method of international marketing, also referred to as "glocalisation†, the strategic aim is to utilise a centralised and planned "footprint" to create an international brand identity, while permitting flexibility that is country-specific in the communication and tactical mix decisions. When deciding what the strategic propositions are as far as international interactive advertising is concerned, the aspects of global marketing no longer make use of an ethnocentric perspective. Global marketing recognises and exercises strategic intent as a way to organise the blend of centralised brand or business directives with the more localised variations in management decision making, and interactive advertising placement. Therefore, global communications definitely suggest that the existence of international online clients is a strategically anticipated result of a hybrid strategic technique (Yeshin and Gilligan, 2000). Language constraints:   In most cases, advertisements have to be interpreted. This has to be according to local version of the generic language. In some circumstances, advertisements created in foreign languages are run intentionally in order to add an air of mystery to a commodity or good. Cultural Hindrances: Subtle cultural disparities may stop an advertisement from being viewed as acceptable in one nation, or be accepted in a

An Analysis of Fairies as a Literary Device In Medieval Folklore Essay

An Analysis of Fairies as a Literary Device In Medieval Folklore - Essay Example A number of saints holidays (that happened to coincide with older holidays) help to ease the layperson's transition from pagan beliefs into a more Christian view of the world. These beliefs in the old magic evolved into literary devices when incorporated into folk tales, frequently used to either juxtapose the new and old beliefs, to distinguish between the two, to either reconcile them or to show the superiority of the new religion, as Christianity soon became omnipresent in medieval life. These Christian elements came to be exhibited retroactively through romantic tales of chivalry, for what was once an ethos of "might makes right" soon were thought to exemplify such Christian ethics as the mighty defending the weak, or the application of mercy. The reverence of the Virgin Mary developed into a reverence of all women and the notion of courtly love. However, these patterns spread slowly. To examine these elements in an evolutionary, if not exactly chronological, orderone can focus o n such examples as the lais "Bisclavret" and "Yonic" by Marie de France and the J. R. R. Tolkien translations of "Sir Gawain and the Green Knight" and "Sir Orfeo." Marie de France's lais "Bisclavret," or "The Werewolf," approaches the notion of magic through the title character's curse of transforming into a werewolf. A brief summary of the plot describes Bisclavaret's curse, his wife discovering it, and then her subsequent betrayal of her husband in favor of another man which results in Bisclavret being trapped in wolf form. As a wolf, he eventually wins the respect of the king, who allows the wolf to stay at the castle. The wolf is well behaved until he meets is betrayers, at which point his animosity is so great that the court recalls the woman's lost husband. She confesses, Bisclavret is restored and the couple are exiled. In the context of this story, the author holds no implicit distrust of magic: it is viewed as a condition pre-dating the arrival of Christianity (paralleling evils of human nature), and while it proves a cursed inconvenience, it in no way prohibits Bisclavret from acting nobly while in wolf form: "He's never touched anyo ne, / or shown any wickedness, / except to this woman."1 The plot instead focuses on Christian moralizing, i.e. the evils of the wife and knight's betrayal of their lord (thereby breaking the holy covenant of marriage, as wel as the knight's forswearing of fealty to his lord) , and their subsequent punishment. The loophole provided by magic actually provides a more satisfactory retribution than mere Christian conscience would allow, for the Church would undoubtedly promote the notion of mercy, forgiveness and leniency. The couple are allowed this to an extent, as they are merely exiled with no other pronouncement of punishment. But magic allows a more telling retribution: when the wolf attacked the woman, he bit off her nose. Not only is she nose-less for the rest of her life, but several of her daughters were also born without noses, thus continuing the medieval tradition of a flawed character revealing itself in physical defect. While Bisclavret's condition proves the means of his eventual revenge, the father of the title character "Yonec" uses magical transformation for different reasons and with different results. This