Corporate Structure

Demand for disclosure has been spurred by information asymmetry and agency conflict between management and investors. Good corporate structure principles are the foundation upon which trust of investors and lenders is built, corporate governance is a philosophy and mechanism that entails putting in place better structures and processes through which the affairs of a company are directed and managed to enhance long term shareholders value through transparency and accountability. Previous empirical studies on the association between cost of equity capital and voluntary disclosure have documented confusing results, Botosan and Plumlee (2002) found a positive association exists between voluntary disclosure and cost of equity capital while Gietzmann and Ireland (2005) found a negative relationship between disclosure and cost of capital. Increased application of corporate governance all over the world has risen after major corporate scandals due to lack or improper corporate disclosure, this has resulted to investors and lenders lose confidence in the traditional financial reporting. Transparency and disclosure creates and sustains confidence of investors, stakeholders and the winder society and provides opportunity for continuous improvement of business structure and processes this has resulted to re-examination and scrutiny of the existing corporate disclosure thus spurring the need for expanding the existing disclosure policy. Voluntary disclosure, being one key pillar of corporate governance is regarded as an external mechanism for the control of the management, protection of the shareholders and a decrease of the agency costs resulting from information asymmetry between the management and shareholders. Botosan (2002) observed that firms which disclose more information in their annual reports enjoy the benefit of lower cost of capital. The current growing trend towards increased corporate disclosure will soon transform into a veritable river of additional information.Although the purpose of disclosure is to provide adequate and sufficient information to the various stakeholders, managers may choose not to disclosure certain information in orders to protect competitive advantage Kavitha and Nandagopal,(2011). Studies have shown that public firms are careful about disclosing information that might lead to competitive disadvantage, example, information about technological innovations, strategic and specific operation data Elliott and Jacobson (1994). The decision on the optimal level of disclosure is thus affected by the interplay between the costs and the benefits of disclosure. 1.2 Voluntary Disclosure Elements of voluntary disclosure will be classified into four classes of information disclosure as forward-looking, financial, corporate social responsibility and board size. Voluntary disclosure is regarded as an important economic tool that aids communicating information to different market players in an industry with an aim of providing clear view about business's long term sustainability. Information disclosure conveys company's information to the owners, stakeholders and general public about the quality and value of the company Hamrouni et al.,(2015).Corporate disclosure falls into two categories, mandatory disclosure and voluntary disclosure covering all types of information, both of financial and non-financial in nature. Laws, regulations and accounting standards stipulate mandatory information disclosure whereas voluntary disclosure is the information reported beyond the statutory requirements. Meek el al, (1995) defines voluntary disclosure as the free option on the part of the company management to provide accounting and other information deemed pertinent to the decision needs of users of their annual reports. The extent and type of voluntary disclosure is dependent of the industry, size, governance structure, ownership structure and geographic region. Boesso and Kumar (2007) claimed that one of the determinants that led to the emergence of voluntary disclosure was the inadequacy of financial reporting as claimed by investors and shareholders . Investors increasingly demanded openness and disclosure of information relating to performance and strategies. Organizations gains some benefit by virtue of disclosing sustainably over and above the statutory required information. Li and McConomy (1999) found that firms in better financial conditions are more likely to voluntarily adopt new International Financial Reporting Standards (IRFS) on environmental disclosure and hence become more profitable and reduce the cost of compliance. Spanheimer and Koch (2000) noted the primary motive for adopting informative accounting as the access to global funding, worldwide comparability of financial statements, increased transparency and pressure from capital markets. Ross (1997) found that companies that provide more information disclosures reduced the occurrence of information asymmetry between the owners and manager, subsequently get to enjoy low cost of capital. The benefits of disclosure are for example, increased share price will lower cost of capital resulting from a firm's full disclosure Nayak, (2012). Investors and creditors are better informed with a high level of disclosure making them understand the economic risk of the investment Elliott and Jacobsom, (1994). Disclosure is generally done in the company annual report either through the statements or notes accompanying the statements. The disclosure elements in the study for measuring the level of voluntary disclosure will include forward-looking information, financial and capital information, corporate social responsibility information and board size information. Forward-looking information represents one form of corporate disclosure. It provides a confidence signaling power to the stakeholder in the management capability to foresee the future prospects of the business. According to Celik et al. (2006) forward-looking information helps to predict the future of a company in terms of performance and strength of the management. Management credibility is gained by accurately predicting company future forecast over and over. Even though the shareholders frequently question the management about what is going to happen to the company in future, the management cannot predict or gives a certain answer to what is going to happen but they observe market trends and then present the shareholders with explanations about what the company future prospects. Companies that wish to access external sources of finance may tend to disclose more forward-looking information to enable them gain investors confidence Clarkson, Kao and Richardson (1994). Jenkins Report (AICPA, 1994) formulated a number of key recommendations to increase the quality of corporate reporting, which included increasing the attention for and provision of forward-looking information. Financial information disclosure helps stakeholders to evaluate company performance before making any investment decisions about the company. Improved information disclosure does not only bridge the information asymmetry between management and shareholders but also facilitate the functioning of the financial and economic systems. Adequate disclosure is used as a mean of attracting new investors in addition to supporting and building company reputation. To reduce vulnerability, information disclosure should be comprehensive, timely, informative and credible in nature. Financial information is derived from the financial reports prepared from the books of accounts and analyzed in various categories such as the income statements, balance sheet, statement of cash flows and statements of changes in equity. Corporate Social Responsibility (CSR) interpreted as the way firms integrate its social, environmental and economic concerns into their value, culture, operations and strategies. Carroll, (1999) noted CSR as an evolving concept. Centre for corporate governance (2005) issued guidelines which encouraged companies to disclose information on CSR, ownership structure and board size (Barako, 2007). CSR efforts translate into improvements in firms' financial performance. Corporate social reporting disclosure enhances company reputation by gaining trust and support from the stakeholders (Woodwar, Edwards and Birkin, 1996), additionally it helps assess congruence between the social value and social norms (Dowling and Pfeffer, 1975). CSR enables firms to access huge sum of finance that might difficult to obtain.Board size is the total number of directors on a corporate board. The board of directors is the apex organ of a company whose central role being the formulation of polices and strategies to be followed by managers in managing firms operations. Board plays an important role in maintaining effective corporate governance. It is the Board that determines the amount of information disclosure by making strategic decision on the level of voluntary disclosure. Chen and Jaggi (2000) noted that greater number of directors on the board may reduce the likelihood of information asymmetry. It is believed that the size of the board affects the ability of the board to monitor and evaluate management. Increase of directors in the board will consequently increase director's ability to control and promote value creating activities. Larger board bring with them a collection of experience and expertise, therefore expanding the need for higher information disclosure, it is also argued that larger board size may find difficulty in arriving at a consensus in decision which can ultimately affect the quality corporate governance while small board size encourages faster information processing . Brudbury (1992). 1.3 Cost of Equity CapitalThe cost of equity is the return that an investor expects to receive from an investment in a business. This cost represents the amount the market expects as compensation in exchange for owing the stock of the business, it consist of dividends and capital gains. From an investor's perspective, cost of equity capital is the return he expects for a share of stock he keeps in his portfolio. Fama and French (1993) found risk growth and size as the factors that influence the required rate of return by investors. When making decisions which affect the firm, Cost of equity plays a crucial role because it affects the discount rate at which expected future cash flows are valued. In archiving an effective strategic decision making and performance evaluation, the cost of equity should be estimated with accuracy. According to Beneda (2003) the cost of equity is a vital base of comparing investment opportunities. Invertors use the concept of cost of equity as an investment opportunity in a company. Cost of equity is one of the methods used to evaluate investment decisions, example capital budgeting analysis, choice of capital structure and firm valuation. Larger firms are associated with lower cost of capital when compared with the smaller firms since they are in a better position to raise funds from external sources on favorable terms. Equity capital plays a fundamental role in the development of a firm due to its advantages when compared to other financing forms. The cost of equity capital is an important component with significant input in calculating the cost of capital Cotner and Fletcher (2000). It is detrimental to apply less appropriate model to estimate cost of capital, this can result to underestimation or overestimation. Underestimation may result in value destructive investments while overestimation may lead to rejection of promising investment opportunities. The cost of equity capital is a key indicator of operations in the financial markets and is used by managers and financial resource providers. Clear financial statements reduce uncertainties associated with shareholders' equity lending to decrease in the cost of equity while incomplete and unclear financial statements increases uncertainty hence causing information risk to shareholders who hence demand higher return. The cost of equity capital is of importance in two folds: securities valuation models are based on the cost of equity capital and without cost of equity capital it is impractible to invest company money as it is difficult to determine capital structure hence unable to determine investment priority (Ahmend, 2007). Manager being agents of the shareholders try minimize the cost of equity hence maximizing shareholders wealth at this same time improving the value of the company. In most financial decisions, cost of equity is an effective determinant factor. Cost of equity is used in capital budgeting decisions, setting optimal structure and working capital management. Implementing corporate governance practice, the high cost of equity capital problem is overcome. The higher level of voluntary disclosure the lower investor uncertainty, with lower uncertainty investors will be willing to accept lower dividend payouts. A lower dividend stream would decrease the cost of equity capital because of a lower risk premium expected by the investors. Lower risk premium demanded by investors translate into a lower cost of equity capital of the firm. Voluntary disclosure reduces the cost of equity capital in two ways which are based on enhanced stock market liquidity and on the reduced non-diversifiable estimation risk. More voluntary disclosure reduces investor uncertainty and attracts long term investments. Determinants of the cost of equity capital can be categorized into two: variables measured on accounting information only (accounting based) and variables measured on relations between market data and accounting data (market based).

The Difference Between Civil Law and Criminal Law

Student Handout 3. 1 – The Difference Between Civil Law and Criminal Law When is a legal problem criminal and when is it civil? What difference does it make whether it is criminal or civil? One way of looking at criminal law is that it is dealing with something of public interest. For example, the public has an interest in seeing that people are protected from being robbed or assaulted. These are legal problems that fall into the criminal law.Criminal law involves punishing and rehabilitating offenders, and protecting society. Since the public has an interest in having criminal law, we give the government the power to put it in place and enforce it. The police and Crown Prosecutors are hired by the government to put the criminal law into effect. Public funds are used to pay for these services. If you are the victim of a crime, you report it to the police and they have the responsibility to investigate. They arrest and charge the suspect.In most cases, if a charge has been prop erly laid and if there is evidence supporting it, the Crown Prosecutor, not the person who complains of the incident, prosecutes it in the courts. This is called a system of public prosecutions. Long ago the person who had been wronged prosecuted the case. The power to prosecute privately remains, but is used rarely now. Even if a person starts a prosecution privately, the Attorney General has the power to take over the prosecution of the case. As a victim, you do not have to be responsible for enforcing the law.The police and Crown Prosecutor do their jobs for the public at large, not for you personally. In a criminal case, the Crown prosecutor must prove the defendant’s guilt â€Å"beyond a reasonable doubt. † This means that at the end of a trial the judge or jury can only find the defendant guilty if they are left without a reasonable doubt about the defendant’s guilt. In other words, there is no logical or rational reason to doubt the defendant’s gui lt. This is not the case in civil law. Civil law is about private disputes etween individuals or between individuals and organizations. Civil matters include areas such as contract law, family law, tort law, property law and labour law. The person suing for a wrong has the burden of proving their case on a â€Å"balance of probabilities. † This means that a judge or jury must believe their story and evidence more than the defendant’s version. They do not need to be convinced beyond a reasonable doubt. Civil disputes usually involve some harm, loss or injury to one party or their property.Unlike criminal law; however, civil law is primarily involved with compensating victims. If a civil action is successful, the defendant will be responsible for the wrongful action. While a defendant in a criminal case may be found â€Å"guilty† or â€Å"not guilty,† a defendant in a civil case is said to be â€Å"liable† or â€Å"not liable† for damages. If you have a civil law problem, you have to take action yourself if you want to get a legal remedy. You can hire a private lawyer, and you will have to pay the expenses of pursuing the matter.For example, if you hire someone to paint your house and they do a poor job, it is a dispute between you and the painter. The police do not get involved. If you want to sue the painter for breach of contract, it is your responsibility to do so. Sometimes criminal law is referred to as part of our public law because it applies to all Canadians and regulates relationships within our society. Similarly, civil law is sometimes referred to as private law because it regulates private relationships between individuals in our society.

Ethernet as a Network Topology

Ethernet is the most widely used network topology. You can choose between bus and star topologies, and coaxial, twisted-pair, or fiber optic cabling. But with the right connective equipment, multiple Ethernet-based LANs (local area networks) can be linked together no matter which topology and/or cabling system they use. In fact, with the right equipment and software, even Token Ring, Apple Talk, and wireless LANs can be connected to Ethernet. The access method Ethernet uses is CSMA/CD (Carrier Sense Multiple Access with Collision Detection). In this method, multiple workstation access a transmission medium (Multiple Access) by listening until no signals are detected (Carrier Sense). Then they transmit and check to see if more than one signal is present (Collision Detection). Each station attempts to transmit when it â€Å"believes† the network is free. If there is a collision, each station attempts to retransmit after a preset delay, which is different for each workstation. Collision detection is an essential part of the CSMA/CD access method. Each transmitting workstation needs to be able to detect that simultaneous (and therefore data-corrupting) transmission has taken place. If a collision is detected, a â€Å"jam† signal is propagated to all nodes. Each station that detects the Collision will wait some period of time and then try again. The two possible topologies for Ethernet are bus and star. The bus is the simplest (and the traditional) topology. Standard Ethernet (10BASE5) and Thin Ethernet (1OBASE2), both based on coaxial cable systems, use the bus. Twisted-Pair Ethernet (10BASE-T), based on unshielded twisted pair, and Fiberoptic Ethernet (FOIRL and 10BASE-FL), based on fiberoptic cable, use the star. In the following document we will try to explain what switched, Fast and Gigabit Ethernet are and make comparison of these three. LAN segments can be interconnected using bridges or routers. This works well when the traffic between segments is not high, but the interconnecting devices can become bottlenecks as the inter-segment traffic increases. Until recently, there were few ways to alleviate this problem. Now, however, a new class of interconnect products has emerged that can boost bandwidth on overburdened, traditional LANs while working with conventional cabling and adapters. These are known as LAN switches and are available for Ethernet, token ring, and FDDI. Switching technology is increasing the efficiency and speed of networks. This technology is making current systems more powerful, while at the same time facilitating the migration to faster networks. Understanding this technology is important; only then can we design and implement switched networks from the ground up. Switching directs network traffic in a very efficient manner – it sends information directly from the port of origin to only its destination port. Switching increases network performance, enhances flexibility and eases moves, adds and changes. Switching establishes a direct line of communication between two ports and maintains multiple simultaneous links between various ports. It proficiently manages network traffic by reducing media sharing – traffic is contained to the segment for which it is destined, be it a server, power user or workgroup. It is a cost-effective technique for increasing the overall network throughput and reducing congestion on a 10-Mbps network. Other than the addition of the switching hub, the Ethernet network remains the same the same network interface cards, the same client software, the same LAN cabling. There are three basic types of switches on the market at this time. They all perform the same basic function of dividing a large network into smaller sub-networks, however the manner in which they work internally is different. The types are known as Store and Forward, Cut Through, and Hybrid. A description of each type is shown below: A Store and Forward switch operates much as its name implies; first it stores each incoming frame in a buffer, checks it for errors, and if the frame is good it then forwards it to its destination port. A Cut Through switch operates differently than a Store and Forward type. In a Cut Through switch, the switch begins forwarding the frame immediately upon recieving the Destination Address. A Hybrid switch is an attempt to get the best of both Store and Forward switches and Cut Through switches. A Hybrid switch normally operates in Cut Through mode, but constantly monitors the rate at which invalid or damaged frames are forwarded. Designing A Switched Ethernet Network Designing a switched Ethernet network is actually a fairly straightforward process. The first step is to evaluate the traffic flow through you expect each user or group of users to generate. Analysis of the network will most likely find that you have a large number of users who are not going to place a heavy load on the network, and a smaller number of users who will place a large load on the network. We now group the Undemanding Users together on a hub and connect each hub to a switch port. Our more demanding users will usually be either directly connected to the switch, or if they are on hubs, fewer of them will be sharing each switch port than on the Undemanding User portion. One point which should be kept in mind regarding the design of a switched network is that traffic patterns vary by user and time. Therefore, just taking a â€Å"snapshot† of network usage patterns may lead to the wrong conclusions and result in a design, which is not optimal. It is always advisable to monitor usage patterns over a period of several days to a week to decide how to allocate network bandwidth optimally. Also, in almost all cases, a process of trial and error may be required to fully optimize the design.  · It is most important to get a switch that doesn't drop frames.  · Latency is a concern, but take it with a grain of salt. It will not make that much of a difference.  · Deciding between cut-through and store-and-forward depends on the application. Time-sensitive applications may need the former.  · Multimedia stations need dedicated switched ports.  · Most switch implementations consist of a switch with many stations (demand) and few servers (resources). It is best to keep a 1:1 ratio between demand and resource. Or, as mentioned earlier, increase the number of access pipes to the resource. (i.e., multiple lines into one server)  · Baseline your network prior to installing switches to determine the percentage of bad frames that already exist on the network.  · RMON (Remote Monitor) capability embedded in switch ports is may be costly, but it may save time and money in the long run.  · Certain switches support a flow control mechanism known as â€Å"back pressure.† This spoofs collision detection circuitry into thinking there is a collision and subsequently shifting to a back-off algorithm. This throttles back the sending station from transmitting any further data until the back-off process is complete. Switches with this feature need to be placed into the network carefully. What is 100baseT and Why is It Important? 100baseT, also known as Fast Ethernet, is simply a new version of Ethernet that runs at 100 million bits per second, which is ten times the speed of the existing Ethernet standard. 100baseT is becoming very popular because networks need more bandwidth due to more users and to demanding applications like graphics and networked databases. In fact, for many applications, standard Ethernet is simply too slow. For this reason, most experts believe that 100baseT will eclipse Ethernet as the dominant standard for Local Area Networks (LANs) during the next few years. A major advantage of all variants of 100baseT is software compatibility with standard Ethernet. This means that virtually all existing operating systems and application programs can take advantage of 100baseT capabilities without modification. One way fast Ethernet helps network managers make incremental upgrades at relatively low cost is by supporting most wiring and cabling media. The 100-Mbit/s specification can run over the Category 3 and Category 5 wiring already in place. It also runs over fiber optic cabling already installed. Fast Ethernet offers three media options: 100Base-T4 for half-duplex operation on four pairs of Category 3 UTP (unshielded twisted pair) or Category 5 UTP, 100Base-TX for half- or full-duplex operation on two pairs of data-grade Category 5 UTP or STP (shielded twisted pair), and 100Base-FX for half- or full-duplex transmission over fiber optic cable (the specification should be completed by year's end). As with other high-speed LAN technologies, fast Ethernet operates most efficiently on higher-grade media, such as Category 5 cabling or fiber. For Category 3-based installations, the 100Base-T4 media option uses four pairs of Category 3 UTP cabling. Data is transmitted on three pairs of wires, utilizing standard 8B/6T coding, which allows a lower signal frequency and decreases electromagnetic emissions. However, because the 100Base-T 4 standard uses the three pairs of wires for both transmission and reception, a 100Base-T4 network cannot accommodate full-duplex operation, which requires simultaneous dedication of wire pairs to transmission and reception. Work is still in progress on 100Base-FX fast Ethernet over fiber, but trials show it to be stable and capable of sustained 100-Mbit/s throughput at distances over 100 meters. Essentially, as a second means of transmitting data over fiber, 100Base-FX will be an alternative to FDDI. Moreover, because it will support full-duplex operation, 100Base-FX has the potential to become a significant backbone technology. 100BASE-T Fast Ethernet represents the best choice for customers interested in high speed networking for many reasons. There are 40 million 10 Mbps (Mega-bit per second) Ethernet users in the world today. 100BASE-T technology has evolved from this 10 Mbps world. By keeping the essential characteristics of the Ethernet technology (known as CSMA/CD) unchanged in the 100Mbit world, customers and installers can benefit from the body of Ethernet expertise developed over the years. The Ethernet industry expects that 100BASE-T will offer ten times the performance for twice the price of 10BASE-T. This improvement is made possible by advances in integrated circuit chip technology. As chips get smaller, they run faster, use less energy and are cheaper to produce. Early Ethernet controllers were made in 1.2 micron chips. State-of-the-art technology uses 0.45 micron chips. This represents an almost eight-fold reduction in chip size. 100BASE-T technology offers unparalleled ease of migration. You can decide how fast to upgrade, in what steps and stages, without massive â€Å"fork-lift† upgrades. Most 100BASE-T network cards will run as 10BASE-T and 100BASE-T cards. You will be able to buy cards now and run them at 10BASE-T speeds. Later when you are ready to upgrade to 100BASE-T you will not need to change your network cards. 100BASE-T is widely supported by many different companies. These include networking, systems, semiconductor, computer, integrator and research companies. Many of these companies have been supporting the industry effort through the Fast Ethernet Alliance. Wide support is essential for network users, ensuring a ready supply of interoperable products at competitive prices. The transmission systems of the 100BASE-T standard have high data integrity. It was shown that if 100 million 100BASE-T networks were run at maximum speed it would take over a billion times the age of the universe before there would be an undetected error. These error rates are significantly better than for 10BASE-T, Token Ring and FDDI. Recently, PC LAN adapter card manufacturers like 3Com and SMC have made very aggressive moves to further accelerate the adoption of 100baseT by pricing their 100baseTX products at only a slight premium compared to their standard Ethernet products. For example, a 3Com 100baseTX card is priced at $149, compared to $129 for their Ethernet card. Because virtually all 100baseTX cards also support 10baseT, this means that customers are being encouraged to buy the 100baseT capability even if they don't need it today. In other words, you can buy the 100baseTX card today and use it on your existing 10baseT network; when you upgrade your network to 100baseTX, you won't have to throw away your adapter cards. By all accounts, this strategy has been very successful. Gigabit Ethernet is an extension of the highly successful 10Mbps (10Base-T) Ethernet and 100Mbps (100Base-T) Fast Ethernet standards for network connectivity. IEEE has given approval to the Gigabit Ethernet project as the IEEE 802.3z Task Force. Gigabit Ethernet is fully compatible with the huge installed base of Ethernet and Fast Ethernet nodes. The original Ethernet specification was defined by the frame format and support for CSMA/CD (Carrier Sense Multiple Access with Collision Detection) protocol, full duplex, flow control, and management objects as defined by the IEEE 802.3 standard. Gigabit Ethernet will employ all of these specifications. In short, Gigabit Ethernet is the same Ethernet that managers already know and use, but 10 times faster than Fast Ethernet and 100 times faster than Ethernet. It also supports additional features that accommodate today's bandwidth-hungry applications and match the increasing power of the server and desktop. To support increasing bandwidth needs, Gigabit Ethernet incorporates enhancements that enable fast optical fiber connections at the physical layer of the network. It provides a tenfold increase in MAC (Media Access Control) layer data rates to support video conferencing, complex imaging and other data-intensive applications. Gigabit Ethernet compatibility with Ethernet preserves investments in administrator expertise and support staff training, while taking advantage of user familiarity. There is no need to purchase additional protocol stacks or invest in new middleware. Just as 100Mbps Fast Ethernet provided a low-cost, incremental migration from 10Mbps Ethernet, Gigabit Ethernet will provide the next logical migration to 1000Mbps bandwidth. This section discusses the various topologies in which Gigabit Ethernet may be used. Gigabit Ethernet is essentially a â€Å"campus technology†, that is , for use as a backbone in a campus-wide network. It will be used between routers, switches and hubs. It can also be used to connect servers, server farms (a number of server machines bundled together), and powerful workstations. Essentially, four types of hardware are needed to upgrade an exiting Ethernet/Fast Ethernet network to Gigabit Ethernet :  · Gigabit Ethernet Network Interface Cards (NICs)  · Aggregating switches that connect a number of Fast Ethernet segments to Gigabit Ethernet  · Gigabit Ethernet repeaters ( or Buffered Distributors) The five most likely upgrade scenarios are given below : 1.Upgrading server-switch connections Most networks have centralized file servers and compute servers A server gets requests from a large number of clients. Therefore, it needs more bandwidth. Connecting servers to switches with Gigabit Ethernet will help achieve high speed access to servers. . This is perhaps the simplest way of taking advantage of Gigabit Ethernet. 2.Upgrading switch-switch connections Another simple upgrade involves upgrading links between Fast Ethernet switches to Gigabit Ethernet links between 100/1000 Mbps switches. 3.Upgrading a Fast Ethernet backbone A Fast Ethernet backbone switch aggregates multiple 10/100 Mbps switches. It can be upgraded to a Gigabit Ethernet switch which supports multiple 100/1000 Mbps switches as well as routers and hubs which have Gigabit Ethernet interfaces. Once the backbone has been upgraded, high performance servers can be connected directly to the backbone. This will substantially increase throughput for applications which require high bandwidth. 4.Upgrading High Performance Workstations As workstations get more and more powerful, higher bandwidth network connections are required for the workstations. Current high-end PCs have buses which can pump out more than 1000 Mbps. Gigabit Ethernet can be used to connect such high speed machines. Gigabit Ethernet will be an ideal solution for many of the networking challenges confronting MIS departments today. With businesses implementing more powerful technologies like super-fast servers and data-intensive applications such as video streaming, videoconferencing, or high-speed file backups, the new Gigabit Ethernet standard will go a long way toward adding significant bandwidth at reasonable costs. The following explains some of the key advantages Gigabit Ethernet will provide. Gigabit Ethernet will offer a dramatic increase (as much as a hundredfold) in pure bandwidth to help organizations meet the challenges of overburdened or growing network infrastructures. Gigabit throughput will greatly relieve pressures on LAN backbones while providing both the scalability and speed users need to run data-intensive applications productively. When gigabit data rates become available, firms will be able to greatly expedite large file transfers between servers and other devices. Mirroring the price and performance benefits that Fast Ethernet brought to Ethernet networking, Gigabit Ethernet will offer ten times greater performance than today†s Fast Ethernet at two to three times the cost. The working groups are selecting technologies, such as the Fibre Channel physical layer for fiber, with these specific cost targets in mind. Gigabit Ethernet will maintain the 802.3 and Ethernet standard frame format, as well as 802.3 managed object specifications. As a result, organizations can easily upgrade to gigabit speeds while preserving existing applications; operating systems; protocols such as IP, IPX, and AppleTalk; and network management platforms and tools. Managing Gigabit Ethernet networks upgraded from Fast Ethernet backbones will be simple and easy because the new technology requires no learning curve or training for MIS staffs. By offering backward compatibility with existing 10/100 Ethernet standards, Gigabit Ethernet will provide the same outstanding investment protection that Fast Ethernet offered. When upgrading to gigabit performance, companies will maintain existing wiring, operating systems, protocols, drivers, and desktop applications. No training is required for users or network managers, and network management tools and applications will remain intact. Administrators will be able to keep existing tried-and-tested hardware, software, and management practices while providing-with minimal risk and cost-the networking functionality and performance their organizations require. Gigabit Ethernet is the third generation Ethernet technology offering a speed of 1000 Mbps. It is fully compatible with existing Ethernets, and promises to offer seamless migration to higher speeds. Existing networks will be able to upgrade their performance without having to change existing wiring, protocols or applications. Gigabit Ethernet is expected to give existing high speed technologies such as ATM and FDDI a run for their money. The IEEE is working on a standard for Gigabit Ethernet, which is expected to be out by the beginning of 1998. A standard for using Gigabit Ethernet on twisted pair cable is expected by 1999.

The power of pull Essay Example | Topics and Well Written Essays - 500 words - 1

The power of pull - Essay Example to goods and services that is different from yester years, indeed the 21st century organization is sitting on â€Å"melting iceberg†, oblivious of the urgency needed to make changes to the new business model that would ensure their survival. Hagel, Brown, and Davison (2010) have analyzed the paradigm shift that has been occurring in the world of business over the past decades, especially the past two decades. Indeed, the current business environment is characterized with endless stream of knowledge, interconnected workforce, blurred borders with increased global movement of knowledge, talent and capital, and a shift in power balance, where the power has moved from corporations to the consumers, and employees have also have power without necessarily being in trade unions. All these changes have mainly been due to changes in technology and liberalization of the business world. Organizations are increasing finding newer ways to attract, retain and develop talent, even as employees’ priorities and motivations change with changes in generations. It is only in this new business environment that you find employees working as a virtual team or a big percentage of an organizations employees working from home. It is in thi s business environment that sales made online for a given business may by far exceed offline sales. However, despite these quite clearly notable changes, most organizations, especially those that have existed for a long time, are still focused on doing things the way they have always done. They still hold on to the old culture oblivious of the changing business landscape. Like the penguins in Kotter and Rathgeber (2005) work, the organizations are complacent in the way things have always been done, and are unaware that their iceberg is melting. Newer emerging 21st century organizations are coming up and taking advantage of the shift and surpassing older established organizations in business performance. Such include the Amazon which in only a few years

Gender Inequalities in Organizations Essay Example | Topics and Well Written Essays - 3750 words

Gender Inequalities in Organizations - Essay Example The discussion aims at highlighting and underpinning the concept of equality of opportunities for women that will offer likely benefits and advantages to the business and social environment of the Saudi Arabia. It has been seen and perceived that women are incapable and unfit for certain kind of jobs and men get undue advantages and benefits in the social and business environment. The discussion identifies the importance and need of equality in the business environment to create a favorable and positive business environment for men and women. Women are often subjected to sexual harassment and abuses compared to men and creating a positive environment will only empower them in the present as well as in the future. The discussion also aims at understanding the reasons behind gender inequality along with identifying problems and issues pertaining to it in the business and social environment. For this purpose, the social and business environment of Saudi Arabia has been assessed and analysed. At the same time, the educational and social environment has been analysed in terms of impact and influence. It is important to change the educational structure along with reducing the impact and influence of social and economic constraints to attract more number of women in the national work force. This requires equal rights and equality in everything without discriminating against the gender. It also requires help and support of public and private sector organizations to create a base for Saudi women in terms of exposing them to business ins and outs along with offering training to enhance their skills. Therefore, the role of public and private sector organisations has also been assessed and analysed in a critical, illustrative manner.... However, with 15% of national workforce comprising of women, the Kingdom of Saudi Arabia is yet to utilize untapped potentials of its work force especially those of women (UNDP, 2008). The current work force is driven by majority of expatriates who have been contributing to the success and development of the country. However, the role of nationals comprising of men and women with potential to perform and contribute remains obsolete. The majority of these are women who have not been exposed to the business environment. There is no denying that legislative, social, occupational and educational constraints prevent women to participate in the Saudi labor market but things need to be changed in order to offer equal opportunities to people without differentiating on the basis of the gender. Saudi Arabia is a powerful economy with wide arrays of business opportunities. In order to emerge as a dynamic and global force, the Kingdom of Saudi Arabia needs to overcome these constraints. Sambidge (2011) stated that the Arab nations continue to lag behind other nations when it comes to gender equality. As per the report published by the World Economic Forum Global Gender Gap, 2011, no Middle East country was in the list of top 100 countries for gender equality out of the 135 countries covered. UAE was ranked at (103), followed by Kuwait (105), Bahrain (110), Oman (127) and Saudi Arabia (131). However, things have been changing at a rapid pace as women are now allowed to vote for the very first time highlighting the growth and acceptance of gender equality. The notion of men leading men and women has been prevailing from early centuries. This argument can be considered as the base for the start of inequalities between the genders. However, the mode of discrimination seems to

Analysis and Application of a Clinical Practice Essay

Analysis and Application of a Clinical Practice - Essay Example These guidelines were designed to provide transportation agencies and Road Safety Audit teams with a enhanced understanding of the safety of bicycle cyclists in the context of the cycling environment. These guidelines were also planned to nurture a secure environment for motorists, cyclists and pedestrians while using the road. The Bicycle safety Guidelines are cyclist specific guides that present road users personnel with safety elements they should consider when using the road. Even though the writers have exhausted every resource to be comprehensive as they could, people using these guidelines should keep in mind that conditions fluctuate from place to place and extra precautions should be learned that may not be handled in this documented. Not every recommendation in these guidelines is applicable in each situation. Transport in NSW will work with key stakeholders such as Bicycle NSW, the Amy Gillett Foundation, and Cycling NSW on the development of policies and programs that will be accepted within the cycling community. At the same time, Transport in NSW will work with other road user groups to ensure broader acceptance across the wider community. The NSW Government will work with Local Councils to ensure the road environment where cycling occurs is designed and managed using a safer systems approach. This article was based on bicycle crash statistics; which provide trends and an overview of the need to provide more cyclist friendly environment on the highway and streets. Moreover a comprehensive qualitative research was done to identify the major problems that contribute to laxity in bicycle safety. A random sampling study was done where 4,388 families comprising 11,753 people were arbitrarily picked out. The study brought out that a major contributor to bicycle accidents were from hits by motorists. The survey discovered that either the bicyclist does not pick up the oncoming

Modern Art as Viewed by T.J. Clark Essay Example | Topics and Well Written Essays - 1250 words

Modern Art as Viewed by T.J. Clark - Essay Example The essay "Modern Art as Viewed by T.J. Clark" provides the view on modern art by T.J. Clark. Paris is said to be the birthplace of habits of leisure, consumption and commerce that are now named as â€Å"modern life†-- explicitly captured in paintings, sculpture and architecture which are collectively called the â€Å"modern art.† Modern art is a term which is usually associated with forms of art that were done in the spirit of experimentation and in which the traditions and practices of the past have been disregarded. These arts are representations of rejection of the established academic tradition in favor of more naturalistic representation of the world. Pioneers of this kind of art were called Romantics, Realists and Impressionists; by the late 19th century, additional movements called Post-Impressionism and Symbolism also emerged. Connected with the concepts of modernity and modern art is a Marxist art historian named Timothy J. Clark. A native of Bristol, England, Clark received his education at Bristol Grammar School, Cambridge University and at the Courtauld Institute of Art at the University of London. His work experiences include his stint as a lecturer at Essex University from 1967-1969; as a senior lecturer at the Camberwell School of Art from 1970-1974; as a visiting professor and subsequently as an associate professor at the University of California; as chair of the Fine Arts Department of Leeds University in 1976; and as a member of the School of Fine Arts faculty at Harvard University. where he encountered quite a number of his detractors who were among the traditional and connoisseurship-based faculty. (T.J. Clark) Currently, he holds the George C. and Helen N. Pardee Chair as Professor of Modern Art at the University of California. (U.C. Berkeley History of Art 2005) Going back to the concept of modern art, this was discussed by T. J. Clark in reference to Paris in his book entitled The Painting of Modern Life: Paris in the Art of Manet and His Followers. In this book, Clark questioned those who view Impressionism only in terms of artistic technique, and likewise describes the works of Manet, Degas, Seurat and others as an attempt to give form to the "modern life" by focusing on its typical representatives, which are basically the various "modern city" workers. (Clark, T.J.: The Painting of Modern Life: Paris in the Art of Manet and His Followers 2008) Concomitantly, Clark views Paris as the birthplace of the "modern art", where changes therein went beyond the cultural and ideological refurbishing to the more encompassing economic transformation. (T.J. Clark: Manet in situ 1986) Samples of the specific arguments and discussion that could be found in the book are the following: 1.) Manet's Olympia caused scandal at the 1865 Salon because the painting disobeyed the "rules of the nude." Furthermore, in addition to the nude body on bed, the woman's hand is considered to be a detail, which the critics wrongly focused on; 2.) Manet's disregard of the so-called "good modeling" and the abruptness which characterized his lights and darks can be seen in the Olympia. Such aspects have been criticized by some writers in 1865, describing such as "circled in black", "drawn in charcoal", and "stripes of blacking"; and 3.) certain paintings suggested the fact that classes coexisted, but never touched. (Clark 1985) As seen in the title of the book, Manet's art is given emphasis in reference to the