TSU IT Misalignment Symptom Detection Enterprise Architecture Analysis Discussion.
Discussion BoardThe intent of IT governance is to align the business strategy and IT investment, mitigate risk associated with IT, optimize the use of IT resources to contain costs, and create new business value based on IT solutions. These goals are accomplished by focusing on the processes associated with managing IT.A) Changes in a business often involve IT changes, and modifications to systems may introduce problems. Find an article describing an internal failure regarding IT. Your example could be any type of IT problem, such as: an IT operational failure, IT project management cost overrun or delay, misalignment of IT investment and business strategy, IT ethical lapse resulting in reputational damage, IT solution that is buggy or error-prone, IT services unable to handle the volume of requests resulting in lost business. Briefly summarize the article and provide a weblink to it.B) The COBIT IT governance framework groups 40 IT managing processes into five categories based on the IT lifecycle:Evaluate, Direct and Monitor (EDM) (Links to an external site.) – 5 processes (EDM01 – EDM05)Align, Plan and Organize (APO) (Links to an external site.) – 14 processes (APO01 – APO14)Build, Acquire and Implement (BAI) (Links to an external site.) – 11 processes (BAI01- BAI14)Deliver, Service and Support (DSS) (Links to an external site.) – 6 processes (DSS01 – DSS06)Monitor, Evaluate and Assess (MEA) (Links to an external site.) – 4 processes (MEA01 – MEA04)Identify which of the five categories in the COBIT 2019 IT governance framework above applies to the problem you chose. Then, identify which of the processes in the COBIT category could have helped to avoid or manage the problem. Explain your analysis.C) IT problems often occur when changes are made to meet new business needs or when external factors impact the demand for the amount or type of IT services. COBIT is a governance framework that seeks to take a holistic approach to decision-making by engaging major stakeholders in the decisions regarding the use of IT. Discuss whether involving more key stakeholders in the decision-making process would have impacted the IT problem you described above.D) Analyze how the IT problem you described might be applicable to BestBuy Inc. Co. If that IT problem occurred in BestBuy Inc. Co., what might have been the business impact?Resources:Textbook Section 4.1 of Chapter 4: EthicsSection 4.1 of Chapter 4 PowerPoint chartsWebsite: Introducing COBIT 2019 (Links to an external site.)Wiki: COBIT 2019 (Links to an external site.)Weblog: COBIT 5 is Dead, Long Live COBIT 2019 (Links to an external site.)Article: What is COBIT? A framework for alignment and governance (Links to an external site.)What is IT governance? (Links to an external site.)IT Governance (Links to an external site.)Foundations Of IT Governance (Links to an external site.)Right-Size Your Governance of Enterprise Information & Technology (Links to an external site.)Introducing COBIT® 2019 (Links to an external site.)
Introduction Oil and gas companies face a variety of risks in the process of their operations. Many occurrences that happen outside a company may have an effect on the firm and the financial decisions that it makes. Changes in interest rates, prices of oil, and exchange rates among others are likely to alter the financial decisions of a firm. It is therefore imperative for firms to ensure that no potential economic changes pose a threat to their business. According to Taylor and Kathleen (2013, p. 80), corporate financial managers are charged with the responsibility of ensuring that any past, current, and future fluctuations will not affect the economic standing of the firm. McShane and Anil (2011, p. 641) affirm that companies use various risk management tools known as derivatives to manage risks. The tool used should caution the firm from negative impacts of various risks that may happen in its environment. According to Smistad and Igor (2012, p. 46), in western Canada, oil companies apply future derivatives to buy certain goods or services at a price that is agreed upon today. Chanmeka et al. (2012, p. 259) argue that some companies make use of options where a firm gains the right to sell or buy certain goods or services at a certain price in the future. McShane and Anil (2011, 641) confirm that risk information is crucial to investors and the entrepreneurs themselves. The oil and gas industry is likely to face various risks. For example, political risks, geological risks, price risks, supply and demand risks, and cost risks amongst others. This paper will discuss risk management in various gas and oil companies presenting a detailed literature review of risks in general followed by a detailed discussion of the in the oil and gas firms. Risks The subject of risks is quite pivotal when it comes to the running of various organisations. Companies need to be aware of the possible or rather potential risks that they are likely to encounter in a bid to develop mechanisms of mitigating them in real time once they occur to ensure continued operation rather than untimely closure of such firms due to their failure to take the necessary precautionary measures. Various risks are likely to affect different investments. Such risks include political risks, price fluctuations, and changes in supply and demand, natural calamities, geological risks, economic recessions, and government control risks amongst others. Entrepreneurship is a risky undertaking and every entrepreneur has to risk some of these factors and get into business. Get your 100% original paper on any topic done in as little as 3 hours Learn More According to Taylor and Kathleen (2013, p. 83), in the world of business, general risks affect literary every company in business though at varying intensities. Risks have various implications on business depending on the level of their impacts and predisposition of a particular business on them. In some instances, risks may lead to complete loss of business. For example, if a business is exposed to fire and explosives risks, it can be completely wiped out in case of an accident. However, McShane and Anil (2011, p. 641) affirm that some of the risks affect all businesses in their every day affairs, for example supply and demand risk, price risks, and government regulations. Businesses have little or no control on some risks such as natural calamity risks, for instance earthquakes and floods. Nevertheless, it is important for a business to devise ways and methods of detecting, assessing, and mitigating the risks. Oil and Gas Companies Oil and gas companies provide a working illustration of the subject of risks that is under scrutiny based on the various risks they encounter in their everyday business affairs. From the point of extracting oil and gas, processing it into finished products to transportation, warehousing, and retailing, the whole business is a risk. These companies encounter various types of risks in their line of business. Chanmeka et al. (2012, p. 259) assert that risks affect almost every firm in business and are likely to affect the oil and gas industry more than any other firm. According to Helman (2013, p. 62), the oil and gas industry faces tight regulations on how to conduct its business. Such regulations include rules on how oil and gas are extracted from the source, regulations on where they can be extracted and where extraction cannot be done, and regulations of the period in which extraction of oil and gas can be done. The government has the upper hand in such regulations since oil business is lucrative. In fact, the political wrangles that affect most countries that have oil and gas resources revolve around the control of oil wells by the government. Countries such as Sudan and Southern Sudan have been in conflict due to control of oil wells. We will write a custom Dissertation on Managing Risks in Oil and Gas Companies specifically for you! Get your first paper with 15% OFF Learn More Such political wrangles have also been witnessed in Kuwait and Nigeria. Whenever there are political wrangles in the control of oil and gas, the companies that invest in such nations face higher economic and political risks. Haselip and Martínez (2011, p. 1) argue that politics of regionalism, equitable distribution of national resources, and resource distribution also affect oil and gas regulation. In some cases, the laws governing extraction, processing, and distribution of oil and gases in different states may vary. Antonsen, Kari, and Jarl (2012, 2001) reveal that it is more risky to carryout oil and gas business in dependence on foreign deposits without standardisation. In the oil and gas industry, some companies that show interest are likely to invest in any part of the world where the oil and gas field has a sheer disregard of the political climate of the country. According to Helman (2013, p. 63), if the host country nationalises the industry, foreign investors are likely to suffer loss. Politics of that kind of nation may also change to favour certain investors or category of investors where the foreign investor may not be considered. Antonsen, Kari, and Jarl (2012, p. 2001) argue that some economies will attract investors to begin the process of extraction. Nevertheless, once the process of extraction is complete and the oil and business industry becomes lucrative, politicians, activists, and government officials enact laws to enable the government to leap more from the industry. An investor who puts his or her resources in such an industry is therefore likely to suffer loss. Political risk in oil industry is a major threat to the stability of the sector. It is even more risky to invest in the oil and gas industry in some developing countries. In some of the developing countries with plenty of oil and gas such as Libya and Sudan in Africa, the countries are under poor political leadership thus posing a great risk to investors in the industry. Whenever there is a political turmoil in various nations, oil tankers are targeted due to the high flammability of oil. In addition, Dumaine (2013, p. 102) affirms that oil and gas industries demand tight security and surveillance even in small quantities such as in China. It would therefore mean that, when there is political instability in a county, the rate of insecurity goes down. Consequently, the risk on the industry goes up. Wilkinson and Roland (2013, p. 118) assert that the process of gas and oil exploitation has also become very risky especially with the current dynamics. For instance, drilling of oil is happening in very dangerous environments such as oceans. Extraction in such areas increases the risks that oil and gas industries have to incur in the process of extraction, refining, distribution, and marketing. Not sure if you can write a paper on Managing Risks in Oil and Gas Companies by yourself? We can help you for only $16.05 $11/page Learn More Smistad and Igor (2011, p. 91) affirm that there has also been an increase in the level of unconventional methods of oil and gas extraction. Out of such unconventional methods of mining, some potential oil and gas mines have been poorly exploited or destroyed. In fact, some of these procedures have been used to extract oil and gas in places where it would have proved impracticable. According to Smistad and Igor (2012, p. 46), gas and oil extraction companies involve themselves in great risks by investing a lot of finances and other resources in extraction. Some companies have incurred much cost in the process of extracting gas and oil only to find minimal deposits than they had estimated. It is therefore risky ventures for a company to be sure that geologists and rock experts have enough evidence of the presence of oil or gas in a certain area. According to Smistad and Igor (2011, p. 91), it is also risky for the extraction company to hire specialists such as geologists in oil in the process of investigating the presence oil or gas in a certain field and then fail to realise the targeted amount of oil or gas. Oil and gas extraction, processing, marketing, and distribution constitute a business that aims at obtaining profits. The prices in the oil and gas markets must therefore be able to sustain the industry in a profitable way. Fluctuation in oil and market prices is a risk factor to the industry. No one can predict what the prices of oil or gas will be when the process of extraction will be completed. Mehemed, Kamal, Kieran, and Kong (2012, p. 201) argue that companies in this industry therefore undertake a risk in extracting and purifying the gas without clear future market prices for their products. In several instances, oil and gas extraction companies have undergone the whole process of geological tests and drilling despite their ending up without the projected product. In such cases, unless the gas and oil extraction company is insured, it suffers a big loss. The nature of oil and gas market has been fluctuating over the years. According to Chen and Jevons (1993, p. 667), fluctuation of oil and gas prices poses a great risk to the stakeholders in the industry. Supply and demand issue is a limitation to the oil and gas industry. Venturing into oil and gas industry involves investing huge capital. The operations involved in extracting oil and gas are very expensive and extraction companies have to invest in the process. However, such companies may not be aware of the trend that prices of gas and oil will take in the future. Wood (2011, p. 113) affirms that demand and supply keep on changing. When the supply of gas in the world market goes high, the prices go down thus increasing the risk of incurring heavy losses. Oil and gas industry also experiences imbalances when prices of oil go up. In most cases, when the prices of oil and gases hike, large warehouses hoard the commodities. O’keefe and Doris (2013, p. 158) argue that hoarding increases the risk of loss of customers on retailers and local wholesalers since the commodity does not reach the target consumer. Such suppliers are also at the risk of being compromised of inconsistency by their customers. Mohanty and Mohan (2011, p. 165) argue that it is also very hard to predict the production rates of gas and oil in various states especially with a nation with many states such as the U.S. Kendrick (2012, p. 61) affirms that unpredictability of productivity increases the risk of price fluctuation in the oil and gas industry. In addition, Andersson, Sudhir, and Zafar (2009, p. 440) reveal that, whenever there is a financial crisis in a country or a region, for example, the American crisis or the European crisis of 2007, supply and demand of oil and gas also change. Financial crisis increases the risk of reduced purchasing power. Hence, the affected country experiences low demand for oil and gases. Wood (2011, p. 113) point out that the economic crisis increases the risk of low supply and demand due to its ability to reduce the capital base of a nation. When a country has a low capital base, it is limited in its operations. Donaldson and Schoemaker (2013, p. 24) argue that the macroeconomic position of the industry can also increase the risk of demand and supply. Macroeconomic power of every industry dictates the success of business under it. The oil and gas industry experiences huge operational costs. O’keefe and Doris (2013, p. 158) argue that all the other risk factors involved in the oil and gas industry drain into operational costs. Mohanty and Mohan (2011, p. 165) argue that, when the regulations set by political leaders and governments of a particular nation are very tight, the operation cost goes up. Tight regulations make the process of extracting, processing, and distributing gas and oil more extensive and hence expensive. Wilkinson and Roland (2013, p. 118) posit that the operations that are involved in the process of oil mining and gas harvesting determine the level of operations risks that a firm is likely to incur. The operations involved in drilling are also extensive and expensive. Mehemed, Kamal, Kieran, and Kong, (2012, p. 201) establish that the process of drilling is coupled with many limitations, for instance, bad weather, poor soils and other geological factors, inaccessibility, and technological problems. Such problems increase the operations cost. When the operations cost hikes, the industry becomes disfranchised. Different producers set their own market prices to overcome their cost of production. According to Donaldson and Schoemaker (2013, p. 24), variation in the cost of production makes it difficult for nations of the world to set standard oil and gas prices. In fact, some industries incur a double or triple cost of production compared to others. It is out of such variations that oil and gas prices have become very competitive in the market. According to Robb (2012, p. 756), industries that have been in the line of production for many years incur lesser risks than new industries. Managing Risks- Risk Identification, Risk Assessment, and Risk Control The oil and gas industry is a risk-prone industry. Various uncertainties go along these risks such as the risk of exploration, demand and supply risk, crude price uncertainty, and product line risk. According to Robb (2012, p. 756), the oil and gas industry is one of the risky ventures. Hence, to prevent the danger that the industry poses, there should be the need to manage it. Sarkar (2012, p. 28) affirms that management of risks also ensures that the small industries and the upcoming ones become commercially viable. In addition, there are technological risks such as “cyber threats of Stuxnet virus, which also target lucrative oil and gas industry” (Sudhir, and Zafar 2009, p. 440). These and many other risks in oil and gas industry necessitate the need for risk management. Consequently, various methods of risk management have been put in place to mitigate risks in this industry. Risk Identification Oil and gas companies have invested in information access control and management. Such risk management strategies involve identifying and accessing the right information at all time when it is very necessary. Information management has been a great source of risk in the oil and gas industry. Oil and gas companies have therefore put in place mechanisms to harvest policy information, process it, and use it gainfully. According to Andersson, Sudhir, and Zafar (2009, p. 440), information harvesting, processing, and management reduce the risk of operations. When companies access the right information before investment, they are able to reduce compliance risks. The company can use future derivative to organise how it will acquire various goods and services in the future at a certain price. Sarkar (2012, p. 28) affirms that speedy exchange of information across the industry enables investors to make the right information. Classified information and access to the information systems of oil and gas companies has also been highly controlled. Risk Assessment Modern technology aids in the reduction of variation in governance-risk-compliance. Technology is also an efficient tool in the reduction of operational risk. According to Akhibi (2012, p. 6), the use of real time monitoring technology enables the oil and gas companies to improve the availability of the commodity to customers, reduce operational costs, avoid conflicts with the society and the regulatory authorities, and reduce the risk of demand and supply. Dumaine (2013, p. 102), affirms that oil and gas companies are adopting condition-based monitoring in risk management, which involves positioning various sensors to measure and record the prevailing environmental conditions such as vibration and temperatures (Pinheiro 2011, p. 34). Such sensors enable the oil and gas companies to detect equipment failure in real time. In fact, Srivastava and Gupta (2010, p. 407) assert that the devices are sophisticated to ensure that alert devices either sound the alarm or give work orders to the operations department. Wimalasiri et al. (2010, p. 49) affirm that sensors have enabled many oil companies to avoid the risk of losing billions of money in spillage and leakages. Some oil and gas companies have set up strategic teams to manage any eventuality such as equipment failure and fire outbreaks. Schroeder and Jan (2007, p. 0.1) point out that fire departments are also connected to sensors in order to enable quick response to eventualities and occurrences. Wimalasiri et al. (2010, 49) argue that predictive maintenance enables the industry to realise when there is the need to purchase certain equipments before the actual damage is done. Various modern technology devices are put in place to detect wear-and-tear and obsoleteness of equipments in the oil industry. Qian, Yulin, and Gonzalez (2012, p. 859) observe that, whenever the devices sense that a gas tank or an oil tank is not up to the set standards, the necessary alert message is sent to the maintenance department for replacement. Srivastava and Gupta (2010, p. 407) affirm that the sensor is also able to compare and analyse the level of functionality of every device in the firm and or give the right report on each. Pinheiro (2011, p. 34) observes that such quick reactions enable the firm to avoid health risks. Risks Control Oil and gas companies have to deal with the increased compliance and regulations facing the industry today. For example, according to Molokwu, Barreria, and Boris (2013, p. 2), in South Africa, tight requirements of reporting on all operations and events of minor accidents and incidents have been an expensive venture for the industry. There are also tight regulations on drilling operations. Oil and gas companies have therefore put in place mechanisms to ensure that the checklist for all regulations is complied with as the government of the area dictates (Chan 2011, p. 341). Such compliance includes registration of the company, authorisation for drilling, construction of the industry, reliability in maintenance of structures such as oil wells, and the ability to remain in the market as a competitive industry (Khan 2010, p. 157). According to Haselip and Martínez (2011, p. 1), politics in a certain nation or state can play a role in the oil and gas industry. The major role that political forces play in the oil and gas industry is to regulate prices. Politicians are opinion leaders who largely become policy makers. Oil and gas industries have therefore put in place mechanisms to work with government in price regulations and policy control. The gas and oil companies have to deal with various environmental and health risk compliance processes. The oil and gas industry also faces the risk of geological inadequacy. In most of the nations and states, the reserve of oil and gas is already tapped out. The risk has also spread in nations that have been exploiting their reserves since they are also in the process of being fully exploited. According to Andersen and Aamnes (2012, p. 2010), companies have therefore put in place methods of ensuring that they comply with the health regulations in their area of investment. Oil is a pollutant to the environment in a double way especially when not well handled. According to Perunović and Jelena (2012, p. 130), the risk of oil spillage in water, for example, during mining or transportation in the sea has been greatly reduced through modern technology. Sophisticated mining methods have been employed to ensure no oil spillage during mining. In fact, Perunović and Jelena (2012, p. 130) affirm that modern water vessels have also been adopted in transporting oil through the sea. Khan (2010, p. 157) posits that employees’ health and safety have also been a risk issue in the oil and gas industry. Oil and gas prices are another risk that investors in this industry face. Chen and Jevons (1993, p. 667) argue that prices dictate whether a venture into extracting oil or gas is to be feasible or not. When geological limitations are high, the price risk of extracting oil or gas goes high. Oil and gas companies have therefore ensured high safety standards to employees through education and trainings. According to Molokwu, Barreria, and Boris (2013, p. 2), employees are taught how to protect themselves, how to behave while in the extraction site or in the storage and distribution site, and even how to manage eventualities such as fire outbreaks. Chan (2011, p. 341) reveal that oil and gas companies have also ensured that the community living near the mines and storage areas are also informed on management of fire and spillage. According to Hayes and Hopkins (2012, p. 145), oil and gas companies have also made use of resource centres that are set within the industries. Various minds gather in the resource centres to exchange ideas on the problems facing the industry. Schroeder and Jan (2007, p. 0.1) affirm that, unlike in the past when orders came from managers, engineers in today’s industry meet and exchange knowledge on various problems that their firms face. Hayes and Hopkins (2012, p. 145) assert that, with the meeting of engineering experts from various departments, the right solutions are likely to be realised to eliminate various risks facing oil and gas industries for example the geological and price fluctuation risks. The experts will come up with recommendations on the right measures that the industry should take to avoid risks. Such decisions and recommendations majorly include modification, technological adaptations, planning, and maintenance. With the modern advancement in information technology, cyber crime and information system hacking has posed another risk to the oil and gas industry. According to Akhibi (2012, p. 6), in Nigeria, oil and gas companies have therefore put in place cyber security designs and technologies to mitigate the risk. In oil and gas industries, information system security has been highly integrated with people, processes, data, and systems. Such ventures secure the system to ensure accountability on the side of the operators. Qian, Yulin, and Gonzalez (2012, p. 859) argue that information security also ensures continuous surveillance of the internet protocol openings and filtration of information before it gains access to the main information system of the company. Importance of Managing Risks specifically in Oil and Gas Companies Based on the information already presented concerning risks and their repercussions if not mitigated, it becomes clear on the need to manage risks by all organisations, leave alone the oil and gas companies. Such risks reduce the ability of the firm to predict the course of business. The oil and gas industry faces various difficulties and tight monitoring by many authorities. Investing in the oil industry is also a very risky venture. In this light of probability of loss in the oil and gas industries, this paper highlights various importance of risk mitigation. Every derivative that oil and gas industries put in place should aim at risk mitigation. The derivatives that a firm takes should be aimed at cautioning the industry from the past, current, and future risks. Kendrick (2012, p. 61) asserts that risk management in oil and gas industries ensures that there is proper compliance with the regulations of the authorities in their place of business. Insuring the business against various risks also enables the company to have confidence and security in trade. Such regulations should also be adhered to avoid the risk of regulations and compliance. According to Andersen and Aamnes (2012, p. 2010), managing risks in the oil and gas industry enables the companies to have clear visibility of the current position and the future of the firm. Such a goal can be attained by venturing into future derivatives. The industry should sign for future trading ventures at certain prices with certain companies. Conclusion In conclusion, every business venture is exposed to various risks. Consequently, every business has to put in place various mechanisms to identify, monitor, assess, and control risks. Private enterprise is generally a risky venture. However, as discussed, the oil and gas company is bound to face more risks than any other business. The major risks that affect oil and gas companies include geological risks, political risks, government regulations, and compliance risks, price fluctuation, demand and supply, and natural calamities risk. Oil and gas companies have therefore invested heavily in various risk mitigation measures. Such measures include risk identification, risk assessment, and risk monitoring and control. It is important to manage risks in every business venture. Risks can result in complete loss of business. They can lead to conflicts with the authorities and the communities in the business environment. It is therefore important to comply with the regulatory measures put in place by the regulatory authorities. Insuring the business against various risks is also an important step in risk mitigation. References Akhibi, O 2012, ‘Risk Management – An Essential Ingredient in Nigerian Oil and Gas Construction Projects Delivery’, PM World Today, vol. 14 no. 3, p. 6. Andersen, S
SNHU Horsepower And Weight of The Car Are Significant Predictors Of MPG Analysis.
TSU IT Misalignment Symptom Detection Enterprise Architecture Analysis Discussion
6-3 Jupyter Notebook (Discussion Prep)External Learning ToolThis activity will take you to the Jupyter Notebook containing the Python scripts for your Module One discussion. It is highly recommended that you read through the discussion prompt before completing your work in this notebook. When you are finished completing and running the Python scripts, begin work on your initial discussion post.Note: This task is not graded, but you will be required to attach your completed Jupyter notebook to your discussion post in the next activity.6-4 Discussion: Creating a Multiple Regression ModelDiscussion Topic Starts Jun 5, 2021 8:59 PMUse the link in the Jupyter Notebook activity to access your Python script. Once you have made your calculations, complete this discussion. The script will output answers to the questions given below. You must attach your Python script output as an HTML file and respond to the questions below.In this discussion, you will apply the statistical concepts and techniques covered in this week’s reading about multiple regression. Last week’s discussion involved a car rental company that wanted to evaluate the premise that heavier cars are less fuel efficient than lighter cars. The company expected fuel efficiency (miles per gallon) and weight of the car (often measured in thousands of pounds) to be correlated. The company also expects cars with higher horsepower to be less fuel efficient than cars with lower horsepower. They would like you to consider this new variable in your analysis.In this discussion, you will work with a cars data set that includes the three variables used in this discussion:Miles per gallon (coded as mpg in the data set)Weight of the car (coded as wt in the data set)Horsepower (coded as hp in the data set)The random sample will be drawn from a CSV file. This data will be unique to you, and therefore your answers will be unique as well. Run Step 1 in the Python script to generate your unique sample data.In your initial post, address the following items:Check to be sure your scatterplots of miles per gallon against horsepower and weight of the car were included in your attachment. Do the plots show any trend? If yes, is the trend what you expected? Why or why not? See Steps 2 and 3 in the Python script.What are the coefficients of correlation between miles per gallon and horsepower? Between miles per gallon and the weight of the car? What are the directions and strengths of these coefficients? Do the coefficients of correlation indicate a strong correlation, weak correlation, or no correlation between these variables? See Step 4 in the Python script.Write the multiple regression equation for miles per gallon as the response variable. Use weight and horsepower as predictor variables. See Step 5 in the Python script. How might the car rental company use this model?In your follow-up posts to other students, review your peers’ results and provide some analysis and interpretation:Review your peer’s multiple regression model (#3 in their initial post). What is the predicted value of miles per gallon for a car that has 2.78 (2,780 lbs) weight and 225 horsepower? Suppose that this car achieves 18 miles per gallon, what is the residual based on this actual value and the value that is predicted using the regression equation?How do the plots and correlation coefficients of your peers compare with yours?Would you recommend this regression model to the car rental company? Why or why not?Remember to attach your Python output and respond to all questions in your initial and follow-up posts. Be sure to clearly communicate your ideas using appropriate terminology.
HTS 2015 Georgia Institute of Technology Joe Louis vs Max Schmeling Comparative Essay.
SNHU Horsepower And Weight of The Car Are Significant Predictors Of MPG Analysis
On June 22, 1938, nearly 70,000 people walked through the turnstiles at Yankee Stadium in anticipation of the main bout between Joe Louis and Max Schmeling. More than 100 million listeners tuned into their radios to listen to the fight. The moment Louis and Schmeling stepped into the ring, David Margolick wrote, “Everything else would suddenly cease to matter.” Why was this boxing match a significant global event? Why were so many people across the world interested in its outcome? How did writers, politicians, and fans interpret this match? In your answer, be sure to contextualize the fight in its proper political and cultural context.
HTS 2015 Georgia Institute of Technology Joe Louis vs Max Schmeling Comparative Essay
Impact of Project Management of Project Sucess
Impact of Project Management of Project Sucess. Introduction Project management attracts the attention of academics and project professionals. Understanding of project complexity and how it might be managed is very important for project’s success. Before any measure of success can be obtained, it is essential to first identify what the project is and what the limitations are? In this direction, the main purpose of this paper is to determine what is meant by project, to identify the factors which make a project as opposed to routine work and project success criteria. Firstly, the essay will identify concept of project management requirement. Secondly, the essay will focus on project definition and differences from operation. After that, the essay will examined an iron triangle role in project success. Then, how and when the project success is measured questions will be answered. Finally, the iron triangle’s weaknesses will be evaluated and an extended triangle shape will developed instead of traditional iron triangle. At the end, the essay will be completed with summary and personal recommendations. Method An extensive review of the literature on project management and its impact on project’s success was undertaken. In total, more than 80 papers and books were reviewed with 15 of those being cited in this paper. The research has comprised of both qualitative and quantitative data. Key words: project, iron triangle, project management success Analysis and Synthesis of the Task After 1950’s, time and cost concepts were more important than before. Projects could not manage themselves and project management was defined a job. Project management was a guiding system to reach from the draft to the final stage. (Lock, 2018) Project is a chain of organized activities in order to reach the results. PMBOK defines a project as “A project is a temporary endeavour undertaken to create a unique product, service, or result. The temporary nature of projects indicates that a project has a definite beginning and end” (Project Management Institute, 2013, p. 1). For example, building a hospital is a project. However, operations at hospital after opening is not project because it is not one-off. Projects can be classified into four categories namely engineering/construction, manufacturing, management and science research (Lock, 2018). Albert Lester defines difference between routine work and project as “The answer is that project management is essentially management of change, while running a functional or ongoing business is managing a continuum or ‘business-as-usual” (Lester, 2017, p. 1) According to Lientz (2013, p.3), “As such, projects are differentiated from regular operational work that is repetitive and well defined and that produces services and products”. Timeframe that is transient is the one of the major differences between project and “business as usual”. Business as usual is repetitive and on-going operations while a project is temporary. Project has a definitive end point. The project’s task should be unique and have never been done before. Operations do not bear the characteristics of the project. Operations do not produce an original (new) product or have a start and end point. “While projects require project management, operations require business process management or operations management” (PMBOK® Guide, 2008, p. 12). However, the project process or outputs may also affect operations. As is understood, every project is unique. For this reason, projects should be clearly defined before the beginning. Table 1: Key questions to complete project definition (Newton, 2016) PROJECT DEFINITION PROJECT NAME: Why do you want to do this project? What will you have at the end that you don’t have now? Will you (should you) deliver anything else? Is anything explicitly excluded from project? Are there any gaps or overlaps with other projects-or changes to the boundaries of your project? What assumptions (if any) are you making? Are there any significant problems you are aware of that you must overcome? Has your costumer, or the situation, set any conditions on the way you do this project? Completed on Completed by Agreed by The “iron triangle” which includes cost, time and quality is a constraint for project management. This metaphor is a traditional way to measure the project success that is based on project objectives identified specifically and uniquely for each project. Delivering the project’s product in scope, time, cost, and quality is not only criteria for success. There is another deep perspective in modern project. The third dimension of iron triangle which is defined soft triangle also affects project success (CaccameseImpact of Project Management of Project Sucess
The different challenges university students face
programming assignment help Students entering university level studies face many challenges. Not only are the students presented with obvious challenges such as learning and interpreting subject specific information to obtain their degree, or the social aspects of entering a new environment, they must also learn the appropriate methods of discourse within the university knowledge community. Students enter university from a vast array of personal contexts. Such experiences influence an individual’s understanding and communication skills, therefore the university must make allowances for such varied experiences in the teaching of its programs. By offering varied and alternative methods of learning, it is believed that a greater number of students will have greater interest and knowledge retention, leading to successful knowledge transmission. This essay will review some methods that can be utilised for academic success. One aspect of knowledge transmission in university learning is to understand academic discourse. Ballard
Consumer behavior strategies used in Markstrat
Markstrat simulates the real dynamic world, driven by customers and market decisions which shape our product growth hence high revenue generation. In the beginning of simulation, our company “U” is competing in the F2M6A0 industry. Company has two products SUSI and SULI, targeting different customers. The customers which the industry caters to are segmented into 5 sections: Buffs: Driven by quality and are technologically knowledgeable. Singles: Oriented towards performance, singles are targeted by basic and augmented Sonite products. The Professionals: It is an attitude driven segment. High quality with peak performance satisfies this segment. Status quo is also one of the major factors of influence for this segment. High Earners: This is relatively a small segment which comprises of consumers with high income but lower knowledge. Their purchasing depends on influencers and they seek performance in the products they buy. Others: This group is the most evolving segment for the Sonite industry, specially low end products. The factors shaping purchase for this segment also keep varying. AIM and Objective of the company The company aims at generating high value and brand recognition amongst its perceived customers directly enhancing their sales and capturing high market share. Company Overview Our company “U” competes in the market through its two brands, SUSI and SULI. SUSI started with lowest market share in the existing scenario targeting Others, highly vulnerable target segment. SULI targeted Professionals and has the highest market share in the existing market for Professionals. Analysis: From the consumer’s point of view power and price are the two most driving factors for any purchase of products in this market. In the existing industry, which is highly saturated, the decisions and strategies we used focused upon the following: 1. High Brand awareness. 2. Building a brand personality for the products. 3. Narrowing the difference between perceived value and the actual price of the products. Product-wise Strategy implementation addressing Behavioral aspects of Consumers 1. SUSI Market dimensions of the product are as follows: Production: SUSI has high inventory, so there was no point in increasing production. Segment: A use-related segmentation was done owing to the shopping habits of the customers. Target: Others and Singles, as their contribution I the market was highest. Positioning: Our intended positioning for SUSI was, a high performing economical mass product available at generic touch points of the customers like mass merchandise stores etc. Strategies Implemented in timeline Period 1 and 2: 1. Enhancing Brand Personality: SUSI demanded brand Personification according to their customers. High advertising spend was required to create a concrete personality of the brand among the customers. 2. Tapping Consumer Perception: It was seen that the targeted group “others” decreased their purchase intent of SULI. IT was required to map the perception of the customers and hence, influence the next targeted group i.e. Singles. The basic parameters of purchase of SUSI by others are Performance through Power and economic value through pricing. Perceptual selection was done and economy scales were varied with a repositioning of the brand. 3. Brand Awareness: As the product is a question mark in BCG market, Perceptual mapping was done to revamp the product over time which leads change in customers mind. It was intended to target the Singles, to manage high inventory. Change in attitude was required. To attain this, certain attitude components of the customers were targeted which are: a. Cognitive component: To tap into the cognitions of the customers which drive the sales, an enhancement in product experience and knowledge was aimed. For this, high distribution with increase in Sales force was the decision taken which would mean more visibility hence, more probability towards atleast trying the product, if not buying. b. The affective Component: As it was seen, SUSI was not doing well initially, an enhanced involvement of customers with the product in terms of feelings and emotions would lead to better brand perception in the semantic scaling of products. For this, affective component was triggered by implementing lower price strategy but, introducing the product as a type of specialty product available at high end stores which would capture certain eye balls of High Earners, who are the aspirational group for others and Singles. c. The conative component: Semantic scaling gave a fair idea of the current intentions of buyers. The conative component demanded better intent of buying by matching the perceptions and enhancing attributes of the product. Period 3: As SUSI’s market share was very less and the contribution coming in from it was low, we thought of launching a better product for the ‘others’ market.We got the ideal dimensions from the ideal values. Wt-18 /design-7/ vol-82/ max fre-23 /power-35 After a lot of thought, we finally decided to reincarnate our brand. SUSI was not able to satisfy customers. There was a need gap which was identified. The customers perceived SUSI as a brand which was comparable to its competitors but lacked brand awareness as compared to them. Decisions Taken 1. Manage inventory by enhancing distribution. This will lead to higher brand visibility And impact the brand recall in customer’s mind. 2. Lowering the prices. This decision was mainly taken because of competitive pressure and the market dynamincs. Research and Development on design and other R
The 2012 London Olympic Games Human Resource Management Report
Introduction The 2012 London Olympic games is an international event, which not only brings the world together, but it also reflects a nation’s coeffective synchronization throughout its planning and successful realization of its objectives and the courage to sustain and harmonize all groups associated with the event. It is also an event that has rapidly developed a considerable contribution to businesses and other leisure related activities that integrates all forms of tourism at an extensive level. The magnitude of the event comes with the increased growth of both government and corporate involvement, which further complicates the environment that now calls for a high level of resonance from the Olympic committee and event managers who should identify and tune-up with a wider range of stakeholders in order to bring a sense of balance to their needs and main objectives (Iryna 2009, p.10). For this reason, Human Resource Management (HRM) in any goal oriented organization should be deeply concerned with how to secure and coordinate the various kinds of resources that takes account of facilities, materials, finances, and people, who are the most critical yet the most problematic group since they represent the human resource. The environment that surrounds the preparation for the Olympic event is such a challenging task since it deals with a handful of both logistical concerns and a diverse team of individuals, and for this reason, the HRM process is an effective way of designing and staging the event successfully by giving a critical look on the overall Olympic context and learning from past mistakes witnessed in other past events of the same magnitude. Since the Olympic games is a long-awaited event and a highly rated event, it’s always advisable to carefully note the importance of personnel management through the administrative functions it encompasses in both customary and traditional means that work towards bringing employee motivation and satisfaction with things such as rewards, bonuses, compensation, and the overview of work responsibilities. For this reason, HRM practices are profusely merged with personnel administration to form work groups and effective strategies that will address any challenges that may arise in the course of event planning and job creation which are just some of the primary motivators leading up to the event (Chelladurai