Bloomingdales Balances Selfies with Beauty Tips in Instagram Contest

Bloomingdales Balances Selfies with Beauty Tips in Instagram Contest The target audience of the #Bloomieselfie instagram contest were fans especially women who had interest in the competition as well as the participants. Women value beauty and this competition was important as it was able to enlighten them on tips to ensure they stay attractive (McCarthy, 2013).Advertising We will write a custom case study sample on Bloomingdales Balances Selfies with Beauty Tips in Instagram Contest specifically for you for only $16.05 $11/page Learn More The #Bloomieselfie instagram contest was looking for fans in general but women were selected because beauty tips are of more value to them as compared to men. The issue that was being addressed by this competition was conducting an informative campaign on beauty tips (McCarthy, 3013). Considering the problem situation, many women are not informed of various beauty tips they can apply. In addition, while the #Bloomieselfie Instagram contest was in progress campaigns had to be run so as to in form the fans of the various entrants and to present an opportunity for them to vote. It was an opportunity for all fans not just women only to appreciate selfies (McCarthy, 2013). The use of social media is very effective as it enables information to reach many people at once. Furthermore it is a very cost effective means of advertising as compared to using advertising agencies or the mass media (McCarthy, 2013). The #Bloomieselfie instagram contest was successful as more awareness about beauty tips and self-confidence was created. This is ascertained by more likes on their Facebook page and an increase of their followers on twitter (McCarthy, 2013). It would be appropriate for more competitions of this nature to be launched so as to help in improving self-esteem and self-confidence of individuals as well as increase the level of public awareness of beauty. Model S Fire The target audience is the prospective car buyers and by extension all individuals. The S car model hit a metal o bject and the battery of the car caught fire. The fire department personnel were called and ascertained that the use of water and dry chemical extinguisher was very effective (Musk, 2013).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This was a safety procedure that is important to all individuals. Prospective car buyers prefer a model that is efficient and capable of adaptation in all instances. Tesla was also targeting those are interested to learn more about the S model and the issue that was being addressed was the resilience of the car in severe conditions (Musk, 2013). The problem situation tackles the severity if a gasoline car hit the metal object on the highway. The issue Tesla was trying to raise concerns the safety of a car even in the event of an accident (Musk, 2013). Tesla’s use of social media is very effective since they are able to market the S2 mod el and in the process educating the public on fire safety procedures. The use of social media enables Tesla to display the tenacity of the battery pack in the S model. The marketing plan is very successful since awareness is created easily and in turn the S model car is also marketed. Furthermore the plan succeeds in educating the public on what causes battery fire (Musk, 2013). The battery packs implemented in cars should be able to withstand extreme conditions just like the S model battery pack. In addition, safety measures should be put in place to make the gasoline car safer so as to ensure safety before any accident occurs. References McCarthy, J. (October 31, 2013). Bloomingdales balances selfies with beauty tips in  Instagram contest. Retrieved from https://www.luxurydaily.com/ Musk, E. (October 4, 2013). Model S Fire. Retrieved from https://www.tesla.com/blog/model-s-fireAdvertising We will write a custom case study sample on Bloomingdales Balances Selfies with Bea uty Tips in Instagram Contest specifically for you for only $16.05 $11/page Learn More

Classic education and universities. A road to survival

Classic education and universities. A road to survival Is traditional university losing its grip? The idea of a research university became obvious when Prussian college professor, Wilhelm von Humboldt, proposed a new system, which had to deal with student’s personal experience rather than boring lectures. In the meantime, empirical learning grew to be popular among his younger colleagues, causing Humboldt to expand his strategy and place all his hopes and dreams on the role of research in an institution. Instead of usual academic writing, students were given the task to develop their own approach to educational methods and choose what’s best for them, based on the system of simple observation. Individual projects were presented weekly, and Humboldt could witness an increasing progress in the student’s thinking. Apart from that, he revolutionized the understanding of a university as a public institution. Before that, teachers were mainly focused on the works of ancient authors and considered tradition to be the best learning method and source. Copying the canon was a usual practice, and students summarized what was previously said with the help of their professors. Nothing was left to the learners and their experimental values. Later, in the 1950s, universities in the UK and North America were largely influenced by the teaching models, borrowed from Humboldt. Research centers opened across the country, and students flooded colleges to establish their own projects and become educated academically. With the enhancement of the typical teaching-only model of learning, though, these tendencies vanished into thin air, and lecture theatres became popular once again. There are institutions where face-to-face delivery still remains the norm, while other forms of interaction between a teacher and a student are considered to be ineffective, but generally, online communication wins the hearts of students as the time goes. Campus-less establishments So, what do all these tendencies mean at the end of the day? Will classic universities close and give way to a more modernized system of education, involving online delivery and campus-less teaching? We cannot say for sure, but there have been numerous expressions of gratitude from students, who had an experience in online learning. They were allowed to equal educational facilities and high class diplomas, whereas in other cases the tuition fees would be too unaffordable to handle. Some teachers claim, however, that you should pay your price for using online resources and neglecting the traditional, overcrowded lecture room. With the development of digital learning, we start to forget the empirical experience seminars provides on a daily basis, and regular news updates keep us away from vital information, necessary for successful learning. In the meantime, blog writers and students, who are too focused on using apps for their classes instead of actual listening, are in great danger. They may lose their connection with reality and an ability to evaluate material, based on the source and structure. This is a tendency that is not uncommon among younger learners with their dedication to tweeting and scrolling through the news on Facebook. One may wonder whether the same students will comprehend given information and analyze it according to the teacher’s learning scheme. Unfortunately, most of them have a short attention span, which does not help in case one needs to use a clear and focused approach. Tweeting a sentence differs greatly from making notes on your own, and teacher-student communication cannot be replaced by online resources, no matter how good or mind-blowing the strategy is. The truth about colleges and universities remains the same these days: you have to combine online communication with the real one, and develop a strong sense of academic-led dialogue, where digital sources act as background information. The main values of the traditional institutions have not changed, and we cherish research and analytical thinking as core principles of learning in college.

MATH & ESSAY Speech or Presentation Example | Topics and Well Written Essays - 1250 words

MATH & ESSAY - Speech or Presentation Example The budgeted costs can be compared to the actual costs in order to control activities and identify significant deviations from expectations. The budgeted cost is to communicate the objectives and expectations down the organization, whereas the actual costs indicate the performance of the organization with respect ot he budgeted values. In financial terms, firewall refers to the regulatory legal barriers placed by the Glass – Steagall Act 1933 which attempted to prevent the transfer of inside information and performance of financial transactions between commercial and investment banks (Darwish & Evanoff, 2007). The regulatory firewall between the commercial and investment banking activities indicated that the commercial banks should curb their investment activities and that the income from investments should not be over 10%. These rules were extended and the Bank Holding Act came into practise in 1956 which separated the banking and the insurance sector. The banks were allowed to sell insurance, but they were not authorized to underwrite insurances. This acted as a firewall between the banking and the insurance sector. The firewall was initiated as it was found that the commercial banks were involved in the stock market to a great extent and were thus putting the deposits received from customers at great risk. Also, it was one of the reasons for the early stock market crash. Hence it was decided that there has to be some legal barriers in order to separate the commercial and investment

Dissertation Research Paper Example | Topics and Well Written Essays - 4000 words

Dissertation - Research Paper Example In terms of methodology, both qualitative as well as quantitative approaches have been taken into concern for obtaining a valid conclusion. The research results helped identifying certain potential factors or strategies, which can help in the overall improvement of academic performances of the boys and girls belonging to the Bangladeshi community. These factors include building effective communication with respective schools and increasing the level of participation of parents in attending school meetings among others. Apart from this, the other strategies that used by the then poorly performed schools of Tower Hamlets including effective spending and ensuring high quality of teaching as well as learning may also contribute in serving the above stated purpose. The conclusions of the research suggest that the boys as well as the girls in Bangladeshi community will be able to attain well at KS4 level by effective adoption and execution of the discussed strategies. The purpose of this research is to explore, ascertain and analyse the strategies that are put in place in a secondary school in Bethnal Green, East London for the boys as well as the girls in the Bangladeshi community to attain well at KS4. Evidence suggests that the size of the educational gender gap differs by ethnicity (Bhattacharyya, et al. 2003). The evidence of gender imbalance in the Bangladeshi community in Bethnal Green/East London clearly reveals the persistence of political as well as social differences and the presence of multiculturalism factor in the respective region (Malik, 2015). It is worth mentioning that the research study used a specific school in order to find out the actual strategies that can be applied in making the boys as well as the girls of the Bangladeshi community to accomplish well at KS4 level. The ethnic mix of the school could be reckoned as mixed culture wherein the students belong to different nations with distinct cultural backgrounds. It can be

Bank Julius Baer Case Essay Example for Free

Bank Julius Baer Case Essay Before the arrival and leadership of Stuart Adam (â€Å"Adam†), Bank Julius Baer, North America (â€Å"BJB-NA† or the â€Å"Company†), the largest independently-owned European private bank in the United States, faced financial difficulties. By mid-2001, a worldwide market downturn caused a significant decline in Julius Baer Group’s (â€Å"JB† or the â€Å"Parent†) performance. In 2001, JB’s stock price was down by over 40% while the Parent experienced a 39% decline in net profits, 9% increase in operating expenses and an increase of 14% in employee headcount. BJB-NA, the â€Å"crown jewel† of JB, was barely profitable but no one inside the Company knew its true financial condition. JB had always been led by a member of the Baer family until January 2001. Despite significant family ties at JB, BJB-NA did not have a strong leader to drive the company. There was a lack of clear vision or direction for the Company. BJB-NA did not focus on profitability as a measurement of success. The attitude around BJB-NA was more about â€Å"keeping the peace† than creating any conflict or hostility. Even with a passive work environment, employee morale was low. Employees tended to blame other parts of the Company for their problems. The competitive environment in the High Net Individual (â€Å"HNI†) private banking sector increased dramatically during the 1990’s. BJB-NA was a boutique private bank in a business where bulge bracket firms dominated the competitive landscape. As such, the key factors for success in the HNI market were now recognized as differentiation (not cost leadership), improved client relationship management, broad product range and strong client-responsiveness. BJB-NA strived to be a partner organization that differentiated itself from the competition by satisfying the needs of its clients. The existing organization structure consisted of BJB-NA organized into four regionally-based â€Å"teams. † Poor communication existed throughout the Company as the staff didn’t know what was going on and there was little cohesion among units. BJB-NA operated on a â€Å"need to know† basis. Team leaders were not responsible for their own budgets, as it was not known if their teams were profitable or not. To further support the lack of accountability at BJB-NA, the Company did not have a systematic performance valuation system and lacked a compensation system tied to customer growth and returns. Bonuses were virtually guaranteed and all bonus decisions were made by Bank’s top leadership. Most likely, there were employees who â€Å"flew under the radar† if they underperformed since the Company never laid anyone off. Adamà ¢â‚¬â„¢s Changes and Evaluation Adam arrived at BJB-NA and immediately laid out an action plan to turn around the Company. One of Adam’s best early moves was his selection of Denise Downey to head the Segmentation Study Team. Downey was well respected by the employees that she led and was able to thoroughly evaluate the organization and deliver results to the Company and Adam. Based on the Segmentation Study, Adam wanted BJB-NA to really stand-behind its promises to be a partner organization. He encouraged full transparency and a strong focus on measurable results and accountability. Specifically, he focused on the following three initiatives: Refocus the Company strategy: Adam emphasized that BJB-NA shift its focus to Europeans, Asians, Canadians and Latin Americas who live outside the U. S. who had U. S. based asset management needs. By targeting specific geographic and customer segments, it allowed the Company to specifically focus its strategy and resources rather than spread itself too thin to satisfy a larger, diverse customer base. In addition, he asked some longstanding personal clients who were not profitable to close their accounts. Not only did this change the Company’s customer focus, but also, it signaled to employees that Adam had confidence and high expectations for BJB-NA. Establish new performance expectations: Adam developed productivity assumptions that would hold employees more accountable. He established measurable criteria related to book value, relationships and accounts. Previously, Company employees truly did not know their clients. As a result, it was difficult for management to identify top and low performers. Adam’s established criteria that pushed Relationship Managers past their comfort zone. Before Adam took the helm at BJB-NA, almost everyone received bonuses regardless of their performance. Tying a bonus program with a structure performance evaluation system incentivizes those who bring success and growth potential to the Company. Modify the organization structure: Adam slightly altered the structure of BJB-NA by having a client-segment focus within existing geographic areas. As such, the decision making processes were now decentralized to each of the regional teams. Previously, the advisory and product services departments worked with all regions. After Adam took charge, he assigned advisory teams to each of the different regions to further strengthen customer relationships. Recommendations BJB-NA recognizes that its future success hinges on one important factor: its clients. Our consulting firm wants the Company to further expand and impact its clients beyond what Adam has already planned. Our approach is a client-centric strategy that focuses on two key initiatives: (1) Aggressively recruiting top talent to enhance client acquisition and performance (2) Overhauling the compensation scheme and performance measures. Each initiative, accompanied by supporting tactics, will align to elevate the client experience, resulting in deepening wallet share, increasing warm referrals, and building the BJB-NA brand in supreme customer service. I. Recruiting the Right Talent. Recruiting the right people to manage and advise BJB-NA’s clients will be critical to sustaining long-term growth and increasing assets-under-management. Recruiting will align with the Company’s geographic approach to segmentation by adopting three tactics:  · Local talent recruitment – a successful private banker needs an outgoing, service-orientated personality, and the ability to connect with potential and existing clients. In connecting with clients, it becomes mandatory that future private bankers will be recruited from local regions. This strategy will generate bankers who know the local customs and cultures, speak the language, and are involved in the community. As a result, it creates comfort and familiarity for potential clients.  · Recruit from bulge bracket private banks –Company acquisition is not a feasible option at this time. However, employee/talent acquisition is an even better method to help improve the Company. Bulge bracket private banks are typically a part of much larger conglomerates, often weighed down high-level corporate strategies and â€Å"red tape. To attract bulge bracket private bankers, BJB-NA should promote an entrepreneurial environment that offers autonomy and flexibility while still offering resources found at larger firms. Recruit from ultra-boutique private banks – BJB-NA should actively target private bankers from smaller, boutique firms that have larger books, but have a need for a more global reach. Private bank clients are becoming more global, and with that, have a specific need for banks that have an international presence. BJB-NA provides a solution with offices in Asia, Western Europe, Eastern Europe, and the United States. At the same time, by aggressively recruiting boutique bankers, BJB-NA will be able to expand its presence by acquiring the books of these bankers who may have a strong presence in untapped markets within the targeted regions. II. Restructuring Compensation and Performance Measures BJB-NA should introduce a compensation scheme that will not only be more beneficial for keeping clients’ interests first, but also offer higher potential incentives for the Company’s bankers. First and foremost, bankers will be paid based on client portfolio performance. No one will be paid on the basis of commission. While this tactic may seem counter-intuitive in the short-term, especially in the midst of a struggling economy, it acknowledges BJB-NA’s long-term commitment to its clients. Other positive externalities resulting from a new compenstation structure include: differentiation from competition, potential referrals from clients, and attention to BCB-NA’s innovative thinking. In short, BJB-NA’s message is: â€Å"We make money only when our clients make money†. Second, standard annual bonuses will be foregone. Employees would be accountable for their performance and compensated accordingly. BJB-NA will incentivize bankers by the value they add to their clients and related portfolio performances. This compensation structure ultimately rewards bankers who take of their clients and strive to grow their assets under management. Finally, BJB-NA should revise the position title of its company leaders. To accurately reflect the duties of the position, the title †Team Leader† should be changed to â€Å"Managing Director (MD)†. MD’s would have full PL and people-management responsibilities of his/her respective branch. In addition, MD’s could receive an additional bonus based on the branch’s bottom-line performance. This change will push decision-making down to MD level, promoting entrepreneurship and autonomy. III. Management and Leadership Since Adam decided to resign from his position as the leader of BJB-NA, it is vital for the Board of Directors to select a successor that will be able to implement the changes initiated under Adam’s tenure. As discussed, BJB-NA needs to aggressively put its clients before anything else in its business. The new successor should be an experienced professional who deeply understands the Company’s clients and industry. Taking these requirements into consideration, we recommend that the Board of Directors pick Adam’s successor from a list of internal candidates only. Currently, the firm is in a state of fragility. Employees are stressed and morale is low. With the initial round of layoffs that included six people, any move will be highly scrutinized and may have a long-term impact on the organization. Employees were already caught off guard with Adam’s resignation, especially after he led the restructuring efforts at an off-site meeting that seemed to build positive momentum. To replace Adam’s with an external candidate may put the Company in a state of flux. An external candidate would not have attended the restructuring meetings and participated in the Segmentation Study. He/she may have different views of how the organization should be changed. In addition, the HNI private banking industry is built around relationships. To bring on a new leader who hasn’t built a strong rapport with a majority of the Company’s clients would make the leadership transition a difficult process. One potential internal candidate BJB-NA should consider is Denise Downey. Downey is currently the Head of U. S. Domestic Clients, but more importantly she led the Segmentation Study that evaluated areas of improvement needed at BJB-NA. Employees viewed Downey as a strong, effective leader who always delivers results. As a sign of trust, Adam gave Downey significant autonomy during her time leading the study. Elevating Downey to the C-suite level would be a fairly seamless transition. Downey has significant experience understanding the clientele of BJB-NA since she already leads U. S. client group. With all of the â€Å"client-focused† changes that need to be implemented by Adam, Downey will be best candidate to effectively communicate the steps needed during the transition period. For example, during her time as the Segmentation Study leader, Downey took the initiative to send updates to the entire bank. Alternate Approaches Deviating from a client-centric strategic plan could negatively impact BCB-NA’s future success. Nonetheless, two other alternate approaches were considered. The first approach considered a compensation system where bankers would be paid variable commissions based on fee-based transactions. The variable in commissions would depend on the type of investment vehicles clients would invest in. This viable approach guarantees cash flows from transactions with no dramatic culture change. However, after careful consideration, this alternative was rejected since bankers would be incentivized more by selling a diversity of investment vehicles to clients rather than working for clients’ best interests. The second approach considered but rejected involved an overhaul of the organization structure. After the Segmentation findings, Adam seemed adamant about moving away from the geographic-focused organizational structure of the Company. As such, an alternative approach considered was to eliminate geographic departments and implement an organizational structure focused on client-type. One of the key success factors for companies in the private banking industry is to customize services based on the needs of customers. A BJB-NA client-focused structure based on client characteristics (such as wealth, age, income level) may be more advantageous, especially with raised expectations now required by Adam on bankers’ book of clients. Additionally, within a geographic organization, conflict may occur between local regional management and the executives at corporate. As such, this may hurt the opportunity for knowledge sharing and collaboration, values emphasized by the Baer family. However, as much as a client-focused structure might have its advantages, a geographic organizational structure still is the most effective for BJB-NA. Communication is much more personal in geographic organizational structures. Instead of calling or videoconferencing with olleagues across the globe, it forces employees to sit next to each other to form collaborative teams, values preached by the Baer family. In addition, it allows employees to understand each other’s personalities and work styles. Besides the human capital element, geographic work teams allow BJB-NA to hire leaders familiar with the local business environment, something vital for the relationship-focused private banking industry. Not only will employees understand the client better but the clients will be more comfortable around employees who share similar interests and culture.

Women in Latin America during the Colonization Essay -- essays researc

Women in Latin America during the Colonization The perception of inequality was evident in the colonial Spanish America, man belief that women were lacked in capacity to reason as soundly as men. A normal day for European women in the new world was generally characterized by male domination, for example marriage was arranged by the fathers, women never go out except to go church, women didn’t have the right to express their opinions about politic or society issues. Subsequent to all these bad treats European women try to find different ways to escape from man domination and demonstrate their intellectual capacities, for example women used become part of a convent, write in secret their desires and disappointments, and even dress as man to discover what was the real world. On the other hand native women were not treating the same way, because their enjoyed economic importances that place them far from being man victims. However, Europeans women were very discriminated and dominated during the colonial times; but little by l ittle women fight for their rights and become free of man domination.   Ã‚  Ã‚  Ã‚  Ã‚  In the year 1520 European women begin arriving to the New World; all these women were treat as minors and became adult at the age of 25 years old. At this time or before women were destined to get marriage. Marriages were controlled by fathers, fathers would make sure that the husband choose to their daughters were equal or better in economic matters. The issue of â€Å"inequality† of course, rarely arose on the top elite level, but to middle or low level classes it was a major issue. According to one of the stories of Tales of Potosi called The Strange Case of Fulgencio Orozco people from low classes pass throughout many difficulties to arrange a marriage for their daughters; in this story a Spanish man who lacked in economic matters experience many complications trying to organized a marriage for his daughter, he never obtain a good marriage for his daughter and finally became crazy, lost his faith in God and died. Cases like this one occur around all Spa nish America in low classes; marriage was an economic contract that almost always benefits top elite level class.   Ã‚  Ã‚  Ã‚  Ã‚  In a normal day a European women were required to stay home all day except to go to church. The church became a place of reunions to women of the top... ...European women could have all these freedoms was after the death of their husbands, the heritance from their husbands give to each women an economic base to managed business and be independent into society.   Ã‚  Ã‚  Ã‚  Ã‚  However, Europeans women were very segregated and under man control during the colonial times; but little by little women fight for their rights and become free of man domination. Today the status of women’s civil rights varies dramatically in different countries and, in some cases, among groups within the same country, such as ethnic groups or economic classes. In recent decades women around the world have made strides in political participation, as for example women acquired the right to vote, the right to become part of political issues, the right to marriage who they want, and the right to be free as an individual. Resources: Benjamin Keen, Keith Haynes. A History of Latin America Seventh Edition. Houghton Mifflin   Ã‚  Ã‚  Ã‚  Ã‚  Company. Boston New York, 2004. Bartolome Arzans de Orsua y Vela. Tales of Potosi. Providence Brown University, 1975. Emma Sordo. Latin American Civilization Class Notes. 5/25/05.

Explain the Impact of Technology on the Environment

Technology is such a broad term, for technology is not only what first comes to mind like cell phones and computers. Technology is also the crafting of materials, pencils, pens, even your toothbrush is considered a form of technology. All of these objects that most of us use on a day to day basis has altered are lifestyles compared how the world was several hundred years ago. Sadly, the majority of technology has a reverse affect, more so on the environment.To start with, there is some technology that could potentially be a part of global warming. There are parts that make up objects that could cause the after affect to take a negative effect. For instance, technology dates as far back as the Stone Age, when man discovered how to make fire, believed be approximately 1. 4 million years ago. In fact, no one could have thought back then that fire, including its wood burning technology could create an impact on today’s natural environment through its greenhouse gas emissions.Cavem en created some of the first technology, such as fire axes and spears. As time went on technology advanced and even though they seem to make life easier for us after affects take a turn for the worse on the environment. Another fact to consider, is todays mode of transportation. For example In Sidan over 2,000 new cars are on the road each day, the more cars there are the more gases there are being released into the atmosphere.This harms society through the chain affect involving the environment. It starts with just normal global warming, then the people of the world are not recycling and not conserving there electricity. All of these bad habits, are worsening life as we know it. Sadly not all of this can be controlled for there are some natural causes. But overall a big cause of the environments unwell state is the gases let off by cars going into the atmosphere.One last thought to consider, would be ships going back and forth carrying cargo and spilling oils into the ocean. Becaus e of these spills and leakages, coral reefs are being destroyed. Marine wild life is being endangered since their habitats are being destroyed. Ships are a form of technology, very helpful actually. Especially when it comes to transferring objects too large to go by plane. Are actually taking a part in the environments misfortunes.There are too many endangered or extinct animals already from this tragedy, society must do all in our power to prevent this from happening any further. Therefore, ships is a form of technology that is harmful to our environment. In conclusion, there are multiple different ways technology has an impact on the environment. Whether it be by fossil fuels from fires or oils from cargo ships, it is taking a negative effect on the environment. Worldwide problems, more commonly known as global warming, are being started and worsened by technology.

Legal Forms of Business in Sri Lanka

Introduction A business also called a company, enterprise or firm is a legally recognized organization, designed to provide goods and services to consumers. According to the purpose of the business, ownership of the business and nature of economic contribution of the business; the business can fall into one of the three standard sectors. There are; private sector, public sector and nonprofit sector. The part of the economy concerned with providing basic government services is called public sector. In most countries the public sector includes such services as the military, public transit, primary education and healthcare. Their aim is to give service to the people and less emphasis is made on profit making. Public cooperation is the widely known type of public sector business entity. The non-profit sector is derived with organizations that do not distribute their surplus funds to owners or shareholders, but instead use them to help pursue their goals. Examples include charitable organizations, trade unions, and public arts organizations. In private sector, businesses are financed and controlled by individuals or private institutions, such as companies, stockholders, or investment groups. These businesses run for private profit and they are not controlled by the state or the government. There are many types of business entities defined in the private sector and authorized by the legal systems of various countries. These legal forms of business include; †¢ Sole Proprietorship †¢ Partnership (General Partnership, Limited Partnership and Joint Venture) †¢ Corporation (C Corporation and S Corporation) †¢ Limited Liability Company (Private and Public) These legal forms have been derived according to their Source of the capital, Value of capital investment, Nature of ownership, Number of owners, Nature of liability and many other factors. Each legal form has its own advantages as well as disadvantages. When making a decision about the type of business to form, there are several criteria you need to evaluate based on advantages and disadvantages of above mentioned legal forms. The most important fact is cost of formation of the business and cost of ongoing administration. This includes cost of record-keeping and paperwork, as well as the costs associated with administrative requirements. Legal liability is the next thing to be considered and it defines to what extent the owner need to be insulated from legal liability. Based on the individual situation and goals of the business owner, he has to consider what the available tax implications are because it is also an important factor. Finally the owner has to think about the future needs and whether the legal forms support flexibility feature. Sri Lanka Company Act, No. 7 of 2007 and Company Act, No. 17 of 1982 have defined Sri Lanka legal forms of organizations, which can be the choices for Sri Lankan business community when forming a new business. Legal Forms of business in Sri Lanka include; †¢ Sole Proprietorship †¢ Limited Liability Company (Private and Public) †¢ General Partnership Sole Proprietorship A sole proprietorship also known as a sole trader is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. Sole proprietorships are forms of business ownership that mingle the owner's rights, liabilities and responsibilities with the business' rights, liabilities and responsibilities. Regardless of the state of the business, the procedures we need to follow to form a sole proprietorship are fairly simple, and do not even require an attorney, accountant, or business consultant. There are no legal requirements for establishing a sole proprietorship, other than obtaining the necessary local business license and permit. As the sole proprietor, owner has the full control and responsibility for the business and its operation and he makes all the decisions. With this type of business entity, owner has complete freedom over operating the business, because he is responsible for all transactions and activities occur in the business. All assets of the business are owned by the owner and all profits and all losses accrue to him. He is personally responsible for all debts of the business and must pay them from his personal resources. This means that the owner has unlimited personal liability for the business. Also, owner is less burdened by government restrictions and control, and he has less to do in terms of reporting and taxes. The main advantage of a sole proprietorship is that they are easy to start up and to close. The reason is, they are less expensive and also subject to fewer regulations compared to other types of businesses. Since the owner has full autonomy with regard to business decisions, sole proprietorship businesses are easy and inexpensive to discontinue. The second advantage is that the owner can take all the profits of the business and there is no profit sharing. This may be the most significant motivation for most businesses to become sole proprietorship type. At the same time, all losses accrue to the owner and he does not have the tension regarding conflicts among the partners as there are no partners. In sole proprietorship business type, the owner of the organization pays self employment taxes on the profits made. It makes tax filing much simpler and hence this can be considered as another advantage for sole proprietorship business type. Since this is not a corporation; it does not pay corporate taxes. The remarkable disadvantage of the sole proprietorship is that the sole trader will likely have a hard time with raising capital since he has to make up for all the business's funds. He may have to use his own money or personal loan for the business. The next disadvantage is; the owner of the business has unlimited liability as he is responsible for the business's debts. As the business grows, the risks accompanying the business also tend to grow, and if the business is sued, owner and his personal assets are at risk. Sole proprietorship business type is very prominent in Sri Lanka, may be because form of the business is very straightforward. As a third world country with low rate of individual income, starting up a business with low capital is a very convenient factor for any Sri Lankan business person who is thinking of having an own business. There several home based business running in Sri Lanka such as; groceries, stationary shops, pharmacies, fashion stores and they can be categorized as sole proprietorship business, because they are owned by single person. Freelance writers, copy editors, photographers and craftspeople also have chosen to run their businesses as a sole proprietorship. Sri Lankan government has identified the importance of sole proprietorship businesses, in terms of their contribution to the country’s development. So the government is encouraging this business community, to develop their businesses, by providing necessary financial aids, resources, equipment and guidance. Since Sri Lana is based on an agricultural economy, we can encourage more farmers to form their own sole proprietorship businesses to sell their goods, and this will reduce the terrible effects occurring from the intermediate business people. If farmers can sell their goods directly to consumers, they may be able to get full profit and it will encourage them to develop their business. This will ultimately lead to a high development in Sri Lanka’s economy as well as society. Limited liability Companies (LLC) A Limited Liability Company (LLC) is a type of business organization that combines some aspects of a corporation with those of a sole proprietorship or partnership. The primary characteristic a LLC shares with a corporation is limited liability; that is personal liability of company's members for the business's debts is limited. The primary characteristic LLC share with a partnership is the availability of pass-through income taxation; that is LLC is not taxed as a separate entity. Forming a LLC may not be as simple as a sole-proprietorship; however, the process is much less than a corporation. There are two main actions: †¢ Articles of Organization: Have to file articles of organization with the secretary of province and pay the required fees. Articles may be prepared by a lawyer. An LLC business entity may be file as a corporation, partnership or sole proprietorship in terms of tax return. †¢ Operating Agreement: Have to develop an operating agreement which helps to define the company profit sharing, ownership, responsibilities, and ownership changes An LLC may have one or more owners, and may have different classes of owners. If the LLC has a single member, it will be disregarded as separate from its owner, and will be treated as a sole proprietorship or a division of its owner, unless it elects to be taxable as a corporation. An LLC that is filed for taxation as a partnership can achieve both conduit tax treatment and limited liability protection under civil law and a LLC filed for taxation as a partnership does not have the ownership restrictions. An LLC is typically managed by its members, unless the members agree to have a manager handle the LLC’s business affairs. LLCs do not issue stock and are not required to hold annual meetings or keep written minutes. Generally, members of an LLC that are taxed as a partnership may agree to share the profits and losses in any manner. Members of an LLC receive profits and losses in the same manner as shareholders of a corporation. In general, all the owners and members are shielded from individual liability for debts and obligations of the LLC. The main advantage of LLC is that owners of the LLC have the liability protection of a corporation because it exists as a separate entity much like a corporation. Also members do not hold personally liable for debts unless they have signed a personal guarantee, and this is a great relief for all the members. LLC can select varying forms of distribution of profits, unlike a common partnership where the split is 50-50. Hence flexible profit distribution is another advantage of LLC. The LLC business structure requires no corporate minutes or resolutions and is easier to operate. This can be pointed out as the next advantage of LLC. All the LLC business losses, profits, and expenses flow through the company to the individual members. So, it avoids the double taxation of paying corporate tax and individual tax. Generally, this flow through taxation will be a tax advantage. The most significant disadvantage of LLC is the limited life time of business. A LLC is dissolved when a member dies or undergoes bankruptcy whereas corporations can live forever. Business owners with plans to take their company public, or issuing employee shares in the future, may be not best served by choosing a LLC business structure, because going public is bit complicated with LLC. So this can be again a vital disadvantage of LLC structure. Running a sole-proprietorship or partnership will have less paperwork and complexity compared to LLC. So this added complexity also can be pointed out as a disadvantage of LLC structure. There are two major types of companies operating with limited liability status in Sri Lanka. ? Private Limited Companies ? Public Limited Companies Private Limited Companies A Private Limited Company, theoretically also refer to a private company limited by guarantee, is a type of company incorporated under the laws of England in certain Commonwealth countries. Private limited companies are required to have the suffix â€Å"Limited† (often written â€Å"Ltd† or â€Å"Ltd. â€Å") or â€Å"Incorporated† (â€Å"Inc. â€Å") as part of their name. It has shareholders, but its shares may not be offered to the general public. This means that shares are usually sold to family, friends and business contacts. The liability of the shareholders to creditors of the company is limited to the capital originally invested; that is to the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thereby protected in the event of the company's insolvency, but money invested in the company will be lost. Most companies, particularly small companies, are private limited companies. One of the main advantages of Private Limited Company is, they are easy to set up because; the shares are sold among family, friends and business contacts. Limited liability is another advantage of a Private Limited Company. The shareholder's liability is limited to the value of the shares held by them. If things go wrong for the business, personal assets of a shareholder cannot be used to pay off the debts. Since boards of directors are usually the main share holders, the ownership and the control are closely connected. Therefore decisions can be taken more quickly and this can be pointed out as another advantage. A Private Limited Company has a separate legal existence. This means that properties will be owned by the company itself and all contracts would be signed on its behalf. The directors and secretary can only act as agents. Therefore the company is not dissolved on the resignation, bankruptcy or death of a director which is a vital advantage of Private Limited Company. The company can be dissolved only by winding up, liquidation or order of the Registrar of Companies or by the Court. When we think about advantages, tax benefits of Private Limited Company are also can be considered. The directors of the company are required to pay income tax but the company pays corporation tax on company profits which is one rate of tax only and averages out at much less than if income tax were paid on the profits. Though Private Limited Company has many advantages, there are some disadvantages which often deter small- and medium-sized business owners from setting up private limited companies. Many Private Limited Companies are very profitable. Unfortunately, these profits can become diluted because they must be evenly distributed among all shareholders, and many Private Limited Companies have up to 50 shareholders. So this becomes the major disadvantage of Private Limited Company. The next point that can be a vital disadvantage is shareholders in a Private Limited Company are not able to sell or transfer their shares to the general public. The 50 or so shareholders that comprise a Private Limited Company must keep their shares and cannot trade them on any stock exchange. A Private Limited Company can be quite complex to create, meaning that lawyers and accountants almost always need to be involved in the Private Limited Company from the start. This can be costly and hence a disadvantage. The importance of Private Limited Companies in Sri Lankan economy over the last 15 years has been tremendous. The opening up of Sri Lankan economy has led to free inflow of investments along with modern cutting edge technology, which increased the importance of Private Limited Companies in Sri Lankan economy considerably. Previously, the Sri Lankan market was ruled by the government enterprises but the scene in Sri Lankan market changed as soon as the markets were opened for investments. This saw the rise of the Sri Lankan private sector companies, which prioritized customer's need and speedy service. Most of the pioneering businesses in today’s Sri Lankan business world are categorized as Private Limited Companies. Some of the best examples are Richard Pieris & Company PLC; (One of the largest and most successful diversified business conglomerate), Abans Group – Abans Private Limited; (Represent world famous brands of household items), Singer (Sri Lanka) PLC; (Household durable company), ODEL (PVT) LTD; (Sri Lanka's foremost fashion gallery). Private Limited Companies are often considered the Sri Lanka's version of limited liability companies. This may be because; for many years, forming businesses with the family and friends has been a custom of Sri Lankans. There are many examples such as Perera and Sons (PVT) LTD; (One of Sri Lanka's foremost baker and caterer), H. Don Carolis & Sons (PVT) LTD; (Manufacturers of fine hand crafted wooden furniture), Ebert Silva Touring Co. Ltd; (pioneering Company in the travel and tourism industry) . These are consider as successful family businesses and categorized under Private Limited Company type businesses. To promote private sector domestic investments, the Sri Lanka government has recently brought the bank interest rates down from 20 percent to around 10 percent for borrowings. Public Limited Companies A public limited company (legally abbreviated to plc with or without full stops) is a type of limited liability Company incorporated under the laws of England in certain Commonwealth countries and it is permitted to offer its shares to the public. This means that Shares in a public limited company, can be traded on the Stock Exchange and can be bought by members of the general public. The Capital needed to start a Public Limited Company could come from two different sources; part of the money comes from a loan from the bank, and the rest comes from shares sold to the public, via the stock market. The liability of the shareholders to creditors of the company is limited to the capital originally invested; that is to the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thereby protected in the event of the company's insolvency, but money invested in the company will be lost. The dividend is paid out using the profits from a PLC. The profit of the public limited company is divided into percentages and is paid out to shareholders. There are many advantages of operating the business as a Public Limited Company, and of registering the company on the stock exchange. For example, equity capital obtained from an initial public offering is considered a permanent form of capital since there is no interest to be paid on the equity, and it is not repayable like debt. Funds generated by a public offering are, therefore, considered a relatively safe form of capital for a business and this can be pointed out as the main advantage of the Public Limited Company type. Going public can also allow a company the freedom and flexibility to spend capital, as it needs to finance its growth and further development, providing a solid financial base on which to build. This will be a vital motivate point for anyone who think to start a new business as Public Limited Company. Many companies use stock and stock option plans as an incentive to attract and retain talented employees. It is increasingly common to recruit and compensate executives with a combination of salary and stock. Stock can be instrumental in attracting and keeping key personnel. Public companies are more likely to receive the attention of major newspapers, magazines and periodicals. The proper use of press releases, interviews or news stories can increase investor awareness, shareholder value, and demand for the stock, sales and revenue. Once a company becomes public it has to disclose so much information to public on regular intervals. This includes share holding pattern, quarterly and annual financial statements, profiles of directors etc. So it can be pointed out as one of the disadvantage of Public Limited Company. In a Public Limited Company decisions take time is too long and it also can be a disadvantage. This is because implementation of any key decision is subjected to the approval by the board of directors elected by share holders. Shareholders in public companies expect a steady stream of income from dividends, which might mean that the business has to concentrate on short term objectives of creating a profit and this may be a vital disadvantage because it might be better to work on longer term objectives, such as growth and investment. The most significant disadvantage Public Limited Company has is the threat of takeover. This is because they are traded publicly and another company can buy up a large number of shares and they can then persuade other shareholders to join with them to vote in a new management team. The Sri Lankan stock market has become quite vibrant and booming, particularly as a result of the end of the war, and this was a vivid point for growth of Public Limited Companies. New companies made their public offerings and were oversubscribed during the first day itself. There is considerable demand for company shares in the market and we can see many giants companies have turned into Public Limited Companies. These companies represent banking, finance, insurance, healthcare, telecommunication, food, beverage and so many other sectors. Most important examples are; Commercial Bank of Ceylon Ltd; (Adjudged as the best bank in Sri Lanka), Janashakthi Insurance; (3rd largest general insurance company in Sri Lanka), Sri Lanka Telecom Ltd; (The premier telecommunication service provider in Sri Lanka), Cargills (Ceylon) Ltd; (Sri lanka's largest food network) and Nawaloka Hospitals Ltd; (Asia's largest and most trusted healthcare hospital). The end of the war has put Sri Lanka on the radar of global companies as a country with attractive investment proposition opportunities. As the issuances of shares by resident companies to foreign investors are permitted in terms of a general permission, many resident companies have issued their shares to foreign investors. They include; Lanka IOC; (75% of shares owned by Indian Oil Corporation) and Millenium IT; (Shares were bought by London Stock Exchange). General Partnerships A General Partnership is the most simplistic type of legal structure designed for the situation in which two or more people are collaborating in some type of business activity. The entities involved in a partnership can be individuals, corporations, or trusts. General partnerships are usually started with good friends or family. Starting up a new business is a huge risk and gigantic leap of faith. People who open up general partnerships need to trust each other and work well together. Even if the business does not need a lot of assets to start or operate, still it needs a lot of money to open up a business. General partnerships allow more than one individual to carry the financial burden. This is ideal and makes a business much easier to open. By default, the profits and losses generated by a General Partnership are shared equally among its partners. However, typically a partnership agreement is created to further define the rights, responsibilities, and duties of each partner, as well as the terms of perpetuity if one of the partners withdrawals from the partnership. Financial responsibility is shared equally among the partners, with each partner jointly and severally liable for all business debts and obligations which means that the partners are jointly liable for any and all legal claims against any of the partners. The taxation of a General Partnership is calculated at the individual level. General partnerships can be less expensive to form with a limited start up cost and it has a shared financial commitment, which can be consider as main advantages of this business type. Also it requires less paperwork and formalities which encourage people to form their businesses as general partnerships. General partnerships can thrive when each partner brings a specific strength to the business. If each partner takes on a defined role and there is general agreement on the business plan, goals, and visions from the outset, a partnership can be advantageous. Work can get done more quickly, and having several partners involved will increase the potential of acquiring resources and attracting backers. In the end, the success of such an endeavor depends largely on the personalities of the parties involved. General partnerships offer members the advantages of shared risk and total control over the transactions of the business. One of the most significant benefits of a General Partnership is simplified tax filing, since no corporate forms or double taxation is required. As a pass-through tax entity, this form of business pays no direct tax instead its individual owners carry the tax burden However, the wide array of disadvantages of a General Partnership is what makes it arguably one of the worst organizational business structures available. Because of the lack of corporate structure, a General Partnership does not establish any kind of separate business entity from the partners. This means that the partners are totally unprotected from any litigation against the business, and their personal assets can be seized at any time to cover the unmet obligations of the business. Even worse, each partner is liable for the actions of the others on behalf of the business. So if one of the partners was to execute an agreement without the knowledge of the others, each partner would become equally obligated to the terms of that agreement. The same is true for credit obligations. If any of the partners secure credit on behalf of the business, each partner would become equally obligated to the terms of that debt. In addition, without a Partnership Agreement, there is no guarantee of perpetuity for a General Partnership if one of the partners dies, becomes disabled, or withdrawals from the business. For these and other reasons, general partnership agreements should be drawn up carefully with legal counsel, and signed by all partners. Additionally, there should be a means in place of dissolving the partnership in the case of death, disability, or if one partner should want out of the business for any other reason, personal or professional. Sri Lanka, as a country with low individual income, general partnership would be an idle business type because it gives you pool of resources and financial encouragement to start a new business. Since family businesses are very famous in Sri Lanka, anyone can get together with his family and friends to form the business. Since each partner has a vital contribution to the business, skills and abilities of them will guide the business to success. There are several businesses in Sri Lanka, engaged in all types of sectors such as; grocery, pharmacy, restaurant, book shop and laundry; which can be categorized into general partnership business type. Sri Lankan government has identified the importance of general partnership businesses, in terms of their contribution to the country’s development. So the government is encouraging this business community, to develop their businesses, by providing necessary financial aids, resources, equipment and guidance.

How to Get Your CDL in Montana and Ohio

How to Get Your CDL in Montana and Ohio If you live in Montana or Ohio, check this round up of state guidelines and see what you’ll need to do to be certified to drive safely behind the wheel of a commercial rig!  If you want to learn about earning a CDL at other states, we have put together a comprehensive guide on how to get a commercial driver’s license in every state of the country. MontanaThe following drivers must obtain a CDL:Class A CDLAny combination of vehicles with a GCWR (the loaded weight of a combination vehicle) of 26,001+ pounds, provided the GVWR(the loaded weight of a single vehicle)  of the vehicle(s) being towed is 10,000+ pounds.Class B CDLAny single vehicle with a GVWR of 26,001+ poundsAny vehicle with a GVWR of 26,001+ pounds pulling a vehicle with a GVWR of 10,000 pounds or less.A single vehicle designed to transport 16+ passengers (including the driver), if the GVWR is 26,001+ pounds or more.Class C CDLAny vehicle with a GVWR of less than 26,001 pounds transporting hazardous mater ials for which placarding is requiredAny vehicle transporting 16+ passengers, including the driver, with a GVWR of less than 26,001 poundsAll first-time applicants must:Pass the vision and knowledge testsPresent a valid medical examiner’s certificateFulfill all other requirements for the class of vehicle you want to driveKnowledge TestThe knowledge test features questions on Federal Motor Carrier Safety Regulations and state laws. If you do not pass  a knowledge or endorsement test, you must wait until the next working day to try again. A total of three attempts to pass any combination of knowledge and drive tests are allowed on each set of receipts within one year from the purchase date of the receipts.Driving TestThe driving test includes a pre-trip inspection test to make sure you can identify truck and bus operating systems and inspect them for safety.The driving test also includes tests on: (1) 90-degree alley docking; (2) straight line backing; or (3) parallel parking . The test will take at least 60 minutes and will include starting, stopping, braking, turning, observing traffic signs and signals, using vehicle controls, observing other traffic, maintaining lane positions, downgrade, railroad crossing, upgrade, downgrade stopping, upgrade stopping, bridge and underpass clearance, and general observance of traffic laws and safe driving practices for trucks or buses.If you fail  the driving test, you must wait a minimum of seven days before attempting again.OhioYou must obtain a CDL if you intend to drive:Any combination of vehicles with a GVWR of at least 26,001 pounds, as long as the towed vehicle(s) have a GVWR of at least 10,000 poundsAny single vehicle with a GVWR of 26,001+ pounds, or any vehicle towing a vehicle with a GVWR of less than 10,000 lbsAny single vehicle or combination of vehicles designed to transport at least 16 passengers including the driver, or is placarded for hazardous materialsAny school bus with a GVWR of less than 26, 001 pounds designed to transport 16+ passengers including the driver.Any vehicle transporting hazardous materials for which placarding is required by federal regulations.Any single vehicle or combination of vehicles that is operated on public roads and is considered to be a commercial motor vehicle (includes cranes, drilling rigs, etc.).Obtaining a PermitYou must  be at least 18 years old, and have a valid Ohio driver’s license.  You’ll need to pass both a vision test and at least one written knowledge test before you may be given a permit package. A general written test must be passed by all applicants. Additional tests will be given to those applying to drive: passenger vehicles, air brakes vehicles, combination vehicles, hazardous materials vehicles, tankers, and double or triple trailers.A  permit allows you  to drive a commercial vehicle when accompanied by a CDL holder sitting in the passenger seat.You are then eligible to take your skills test, the last step before obtaining a CDL.Skills/Road TestDrivers will be required to take this test in the class of vehicle they intend to drive. The test includes a pre-trip inspection, basic control skills maneuvering, and road skills driving tests. The applicant will be required to provide a vehicle for testing and must be accompanied by   a licensed driver for that vehicle.

Potential 2020 Republican Presidential Candidates

Potential 2020 Republican Presidential Candidates President Donald Trumps surprise win in 2016 was good news for many in the Republican Party. But the outsider non-politicians win did not make all conservative members of the GOP happy. Some preferred a standard-bearer for the party who fit a more traditional mold than the outspoken New York real estate developer and reality TV star. Others saw him as someone who doesnt actually hold the conservative values he espoused. Three Republicans already have indicated their interest in challenging Trump in the 2020 primary season, and pundits speculate that at least one more might join the race. Bill Weld Former Massachusetts Gov. Bill Welds last run for office was as vice president on the Libertarian Party ticket, but the former Massachusetts governor re-joined the Republican Party to officially challenge President Trump in April 2019. Despite Trumps 90 percent approval rating among GOP voters, Weld insisted in a CNN interview that he can beat the sitting president. His strategy includes getting on the ballot in states that allow for crossover voting, meaning that people who traditionally vote for Democrats are allowed to vote in the Republican primary. Larry Hogan Maryland Gov. Larry Hogan is a moderate Republican who has said he would consider running against Trump in 2020 only if he thought he had a reasonable chance of winning. But polling even in his home state has shown that while Marylanders love him as their governor, Republicans favor Trump in a 2020 primary contest 68 percent to 24 percent. Hogan announced in June 1, 2019 he would not run, saying he would instead lead an advocacy group called An America United. John Kasich Former Ohio Gov. John Kasich already challenged Trump once, in the 2016 primaries, and came up short. The former Ohio governor was tenacious nonetheless and stayed in the fight until the bitter end. Kasich has continued his criticisms of the president as a cable news commentator. He  was rumored to be considering a 2020 campaign, but on May 31, 2019, he announced that he will not run, telling CNN, There is no path right now for me. I dont see a way to get there. Justin Amash Rep. Justin Amash of Michigan is a vocal Trump critic in the U.S. House of Representatives and began being talked about as a challenger to the president after he was the lone Republican in the House to join Democrats in calling for Trumps impeachment in May 2019. But the speculation was not over whether Amash would challenge Trump in the GOP primary. Instead, observers wondered whether the libertarian-minded Amash might indeed jump to the Libertarian party where he might steal enough electoral votes to be a spoiler in the general election. Others Other more conservative Republicans are not interested in challenging a sitting president, either because they support his policies or because they dont want to hurt their own political futures. Those likely waiting for the 2024 election include names like Vice President Mike Pence, Sen. Marco Rubio of Florida, Sen. Ted Cruz of Texas, former U.N. Ambassador Nikki Haley, Sen. Rand Paul of Kentucky, former Wisconsin Gov. Scott Walker, or even former Alaska Gov. Sarah Palin.

Cyber -Attacks on America Essay Example | Topics and Well Written Essays - 2500 words

Cyber -Attacks on America - Essay Example These include voice communication systems, financial institutions and federal agencies among others. Whereas physical attacks would be carried out by hostile foreign nations and terrorists, cyber-attacks could be executed by a wide array of enemies including organized protest groups, terrorists, foreign states and even teenagers. Additionally, Lee (2013) observes the incapacity to protect all computer networks or cell phones or pagers from attack, especially now that 95% of these gadgets are operated and owned by the private sector. Therefore, America is increasingly vulnerable to cyber-attacks which grow by breadth and complexity, indicating the need for the country to continuously adopt and re-engineer its protection approaches that would uphold its cybersecurity. Cyber-attack refers to an attack originated from a computer system against another computer system or a website, aimed at altering, stealing or erasing information or have the functionality of the targeted computer system impeded or destroyed (Lee, 2013). A report on cybercrime documented recently by Hewlett-Packard indicates that the number of cyber-attacks have risen by 42% as compared to the year 2012 (Lau & Xia, 2013). Organizations get successfully attacked 102 times weekly with the annualized cost as a result of these cyber-attacks rising to $8.9 million per organization. Furthermore, it was indicated that security breaches by an organization could cost it up to 1% of its market value. Citing the examples of recent attacks on HSBC, the New York Stock Exchange and major commercial banks such as Citi Bank and Bank of America, PricewaterhouseCoopers, PWC (2013) appreciates cyber-attacks as a serious problem in America that needs critical intervention. Types of Cyber Attacks Cyber-attacks could occur in different ways. First, it could occur in form of exploits. As explained by Vatis (2002), this form of attack involves a sequence of commands, chunk of data or piece of software which takes advantag e of software bug to cause unanticipated or unintended reaction by the computer hardware, software or any piece of electronic. It normally includes denial of service, allowing privilege escalation or gaining control of the system. Secondly, the attack could take the form of eavesdropping where the attacker surreptitiously listens to private conversation. This could be done through the monitoring of faint electronic magnetic transmissions which get generated by the hardware. Moreover, attackers have penetrated even the most secure computer systems leveraging on the carelessness of authorized individuals or through deliberate deceit of such individuals. Lee (2013) refers to this as social engineering. Denial of service attacks are a unique approach to cyber-attacks. They are not used to control a system or gain unauthorized access, but rather render the system unusable. This could include multiple deliberate entry of a wrong password to lock the user or overloading the capability of a system or network so as to block it. Finally, direct access to a computer system could lead to the installation of devices that could compromise security, including modification of operating systems. It could also include downloading crucial information from the system (Brenner, 2010). Using this knowledge, cyber attackers have adopted varied approaches to executing