Strategic Significance And Management Of Dell Inc Business Essay

Strategic Significance And Management Of Dell Inc Business Essay Strategy is the direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations. The term strategic management underlines the importance of managers with regard to strategy. The strategic management role is different in nature from other aspects of management. It is concerned with complexity arising out of ambiguous and non-routine situations with organization wide rather than operation-specific implications (Thomas .L. Wheelen, 2010). This study based on the strategic management of Dell Inc. Dell has experienced its tremendous growth by empowering people through innovative products and services. Throughout this period dell has optimized its business model to raise its standards of excellence. Dells core values, mission, vision has facilitates the company to achieve this glorious goals. The purpose of this report to underpin an outlook for strategic significance and the management of dell computers by evaluating internal and external environments of Dells position in a comparative landscape. The report further undergoes the analysis; a recommended strategy has been outlined which will guided eventually to Dells strategic success. The final part of this study stating recommended the strategy and its implementation with a model including conclusion for the overall sustainability of the company. Company Profile Dell at a Glance Dell is an American multinational computer Technology Corporation founded in 1984 by Michael Dell. According to the statistics published under the global PC market share, it was placed to the 3rd position under the worldwide PC shipments. The company employees more than 82,700 people worldwide (www.scribd.com, 2012). Dell grew during the 1980s and 1990s to become a brand, thus Company employee Direct Business Model to expand the core business worldwide. Dells operational regions include mainly America, Europe Middle East and Asia Pacific regions. The company maintains a consistent focus on offering the best value to the customer. As a trusted technology innovator with diversified, comprehensive IT portfolio, Dell committed to serve its best to the customers and employee. For nearly three decades, Dell has been on an incredible journey, experiencing positive growth on a global scale. Empowering its people customers, business partners and team members who keep the company moving throu gh the rapidly evolving world of technology. Dell Key towards Strategic Planning Vision of the Company Its the way we do business. Its the way we interact with the community. Its the way we interpret the world around us-our customers needs, the future of technology, and the global business climate. Whatever changes the future may bring, our vision-Dell Vision-will be our guiding force The vision statement is able to put forward one of the most important principles behind the operations of Dell. The industry that Dell operates in is one of the most dynamic and ever changing one in the international market. Fluctuations of technology and consumer demands mean that change is the only constant. This is why the lack of prediction leads to the vision statement which focuses on the interpretation of strategy through consumer needs, technology trends and international business climate. Mission statement Dells mission is to be the most successful Computer Company in the world by delivering the best customer experience in markets they serve. In doing so, Dell will meet customer expectations in following areas. Highest quality, leading technology, Competitive pricing, individual and company accountability, best-in-class service and support, flexible customization capability and superior corporate citizenship. Dell Organizational Structure Dells governing body consisting with Executive Leadership team and the Board of Directors. The company is leading by the Chairman of the Board and Chief Executive Officer. Currently Michael S. Dell holding the two positions of chairman and the CEO (Dell, 2012). Dell is following two types of organizational structure which include Executive Leadership Team in senior management and Board of directors for oversight and supervision of the overall affairs of the company. They functions under the so call Executive Leadership Team. Supporting the Board of Directors functioning seven committee charters: Audit Committee Charter  , Compensation Committee Charter, Finance Committee,  Governance and Nominating Committee, Corporate Governance Principles,  Board of Directors Nomination Process,  Communicating With the Board of Directors.   Dells Executive Leadership team provides the guidance and focus in terms of seeking to help their customers more efficiently. They decide the companys operations and implements strategy and policy created by the Board of Directors (Dell, 2012).The other officers functions under the supervision of Board of Directors. The hierarchical organization structure is in Appendix:2. Organizational Characteristics Capabilities and Resources The heart of the Dells business strategy is its customer focus direct business model. In order to serve their customers in more efficient ways Dell developed its core competency by making its customers as the centric core value of its business and deployed the resources and capabilities. This has given the significant increment for Dells strategy to enhance and empowered more competencies such as manufacturing process, human capital management and supply chain management. In order to hit the comparative market in right manner Dell has to improve its products based on modern technologies and consistently Dell has to improve its supply chain and manufacturing process which compliment the efficiencies created by supply chain. Dell had recruit, train and retain compatible workforce which could contribute for company future growth. The healthy environment endorses honesty and accountability as a long term perspective which can logically approach and enhances the core competencies in the c omplicated infrastructure. By delivering values and servicing them effectively Dell became more efficient in terms of recognizing, acquiring and retaining customers by fulfilling their needs. The core competencies which I discussed above enable Dell to perform efficiently and manage its profitability in a mature industry environment see Appendixà ¢Ã¢â€š ¬Ã‚ ¦.Further Dell was able to leverage its core competencies by utilizing its internal resources and capabilities to enhance its key success factors. See appendix à ¢Ã¢â€š ¬Ã‚ ¦ In addition Dells infrastructure, global presence along with capabilities and human capital will leads Dell further to achieve potential growth and differentiated strategic dimension. Dells technological efficiency is capable of supporting expansion to new markets. Such strategies like growing sales and delivering value to the customers in an innovative process will support to the Dells global manufacturing facilities. Dells differentiation stems from process  innovation.  The company is very successful in leveraging and harnessing the value  of its suppliers and partners  technology innovation.  This allows Dell to minimize RD spending and improve the cost structure, a strategy that is rarely matched by competitors.  The company is  also gaining  knowledge in the  retail industry  by  partnering with major  retailers such as  Costco.  This is vital  for the success  of any strategic initiative aiming for a retail presence in global  emerging markets such as China and  India. Dells financials indicate a stellar operational performance evident by above the average inventory, assets  and receivables turnovers.  The company was  able to achieve a  high financial  performance at the operational level by utilizing its state of the art IT infrastructure, supply chain and inventory  management systems.  Further, the  companys stock  represents an  at tractive investment due to the companys utilization of  assets and focus on capital return.  This is evident when comparing Dells high return on investment, asses and invested capital (ROE, ROA and ROIC) to the industry  and market (Appendix  F).  Profitability  ratios indicate  that Dell  is experiencing average profit margins.  This is  contributed to  hyper competition  in the  PC industry; competitors are running on thinner margins in order to gain market share. The capital structure that Dell adopts focuses on financing growth and operations from retained earnings, the company doesnt  pay dividends or acquire debt.  The companys financial  policy in this regard emulates an IT start-up company, even though its a mature company in a mature industry.  Its highly  unlikely that Dell  will continue this  policy in the near  future as investors press  for dividends  and the stock price falls, as  is happening already.  Further, acquir ing debt might be necessary to finance growth and establishing retail presence into global emerging markets. This will not have a negative effect on Dell since it possesses the necessary financial leverage. Business segmentations of Dell Dells business segmentation focuses with the customer. It attempt to fulfill customer needs which is at the heart of Dell. During the past years Dell has signified and recognized its customer-centric business. Dell believes that they operate its global Consumer business by serving customers with faster innovation and greater responsiveness, and enables them to better understand and address their challenges. Dells global business segments are given in the Appendixà ¢Ã¢â€š ¬Ã‚ ¦ Dell Business Strategy Dell is a customer-centric company which its marketing strategy is quite simple and basic in nature. The main emphasis is on the low-cost-strategy by selling the products at lower prices by following a direct business model which removes the middlemen. Dell is superior to manufacture its products with the time and cost and offer high level of customer service by meeting the customers expectations. This so call direct business model has five features which is explain in appendix.. Dell Product Development Strategy The product development strategy of Dells focus with developing its products based on technologies which include superior features and capabilities at competitive prices. Dell employees its unique approach in terms of design and development its products architecting innovative system designs and integrating new technologies to its products. Therefore by implementing this customer-centric approach, Dell delivers new and relevant products and services to the market quickly and efficiently (Dell, 2012). The company continuing to expands its business through delivering products faster and serving the customers in particular way. Key strategic issues Dell is facing multiple strategic issues which may impede on the companys top positioning the computer hardware market. This section addresses the four key strategic issues that Dell should address in order to maintain its prominent market position. First, Dell faces slow growth for its primary product: the personal computer (PC) in saturated U.S. market. The majority of U.S. corporate and education PCs will be replacement units affected by a technological upgrade cycle within the next two years. Therefore, as Dell attempts to maintain its dominant position, the company should focus on product customization and superior relationships with suppliers. This strategy enabled Dells past success but had  become diluted over the last five years. The company should continue to improve itself in these areas in order to remain the top computer hardware differentiator. Second, the erosion of Dells brand value continues due to the perception of declining customer service. Although the company prides itself on superior customer service, recent surveys suggest that Dells results recently declined in this business segment. Dells executives are aware that quality customer service is a key element of the companys success and are reportedly working towards improvements. Third, Dells inability to serve all market needs due to the current strategy of limited vendors in its supply chain. Dell brings few products to market and leverages technology created  by other companies effectively and efficiently. Dell also remains committed to chip supplier, Intel. Although this enables Dell to offer PCs at high value to consumers, it also limits the companys ability to supply diverse customers. The company should consider enabling itself to offer more customized products by increasing relationships with more diverse suppliers Strategic Management Analysis Strategic Analysis is the process of conducting research on the business environment within an organization which operates and on the organization itself. This provides the foundation for the strategic management by providing an insight into the forces behind the intense competition, by developing a sustaining competitive advantage based on organization core competency (JOSEPH, 2012). The Strategic analysis is a one step in strategic management .The steps involved in strategic management is given in Appendixà ¢Ã¢â€š ¬Ã‚ ¦ Strategic analysis used following key analytical methods to underpin strategic management. SWOT analysis, PESTEL analysis, Porters five forces analysis and Value chain analysis (CIMA, 2007). Internal Analysis of Dell Dell enjoys in terms of low cost with superior product performance by its distinctive competencies. They are the core benefits which are practicing by Dell through its direct business model. Dell designs its products according to wishes of the target which allow the company to enjoy superior customer value and brand loyalty, which enhances company ability to coordinate its various functions to produce exciting products. Dell arrive its competitive advantage from three dimensions which is given in Appendixà ¢Ã¢â€š ¬Ã‚ ¦. Value chain analysis of Dell Before making a strategic decision, it is essential to understand how activities within the organization create value for customers. The main aim of value-chain is to categorize the generically value adding service of an organization. The theoretical study of value chain is given in Appendix.. Dell Value Chain Analysis Primary Activities. Support Activities Inbound Logistics Dell relies mostly on its highly reliable supplier, where Dell streamlines its operation and relies on its computer monitor supplier to ship directly to the customer. As long as its supplier retains its leadership position, Dell would collaborate with it to achieve mutual success. Operations Every Dell system is built to order. Therefore Customers get exactly what they want.  Dell uses knowledge gained from direct customer contact before and after the sale to provide award-winning reliability and tailored customer service.   Outbound Logistics When Dell introduced its direct business model which sells its products directly to consumers and communicating with them and serving them directly. Dell, on the other hand, sells, especially in two areas, seeing sales trends and learning about unmet customer needs.  The company also relies on customers knowledge of what they want to purchase and when they want to complete the transaction to drive the direct business model. Dell leverages this source of customer knowledge by making it as easy as possible for a customer to place a customized order electronically.   Marketing and Sales Dells direct to customer model solve the problem for additional capital for marketing and sales. By selling directly to consumer it eliminated retailers along the way. One advantage of this kind of system is that the firm is continuously in contact with its customers and they are benefiting in two areas concerning sales and marketing, seeing sales trends and learning about unmet costumer demands. Service Dell spent dollars training well-educated business segment managers provide state-of-the art advice to customers. The company also initiated a collaborative customer-solution teams that collaborate with customers to fulfill any unmet customer needs. Because of the nature of work of Dells employees they are continually being inspired to stay abreast of technology threats and opportunities that may alter the competitive landscape in the future. Procurement It is on this activity that Dell is weak because Dell do not enjoy protected by trademark or patent or copyright  technology. The technology being used in the industry is shared by all industry players. Technology Development Technology is an important source of competitive advantage and here one strength of Dell for the firm enjoys better access to technology. Dell introduces the latest relevant technology much more quickly than companies with slow-moving indirect distribution channels. Human Resource Management (HRM) Dells mission statement is to be the most successful computer company in the world at delivering the best customer experience in markets we serve. Dell employees, direct salespeople, help-desk operators, engineers, and the like all have to be knowledgeable and customer focused to ensure Dells continued competitiveness. Firm Infrastructure Dell revolutionized the traditional value chain of computer manufacturing industry by introducing the direct to customer model. Dell also employed a global business consultancy, to help it develop a set of metrics to judge business-unit performance. By doing so, daily decision making were more efficient. The chief financial objective that steered managerial evaluation at Dell was return on invested capital (ROIC). Which leads to no inventory build-up, Dell turns over inventory every six days on average, keeping related costs low. External Analysis of Dell PEST Analysis: Dells environment consists of uncontrollable forces that directly or indirectly influence an organizations ability to achieve a desired result. In the words of Kotler and Armstrong marketing environment consists of the actors and forces outside marketing that affect marketing managements ability to build and maintain successful relationships with target customers (Kotler Armstrong, 2003). These influences create both opportunities and threats for a company in a comparative market segment. Dell PESTEL Analysis factors Analysis Political The political environment of the business has pivotal effects on the performance of the business in the quest of achieving its strategic goals. The political instability started after the 9/11 has affected the market conditions all over the world. Most of the computer manufacturers belong to US and the country government is taking huge efforts to facilitate the business. This offers exciting opportunities across the world to manufacturer like Dell, HP, Acer, Toshiba, and Lenovo etc. In order to capitalize the growing needs of the market the government of US has strengthen its ties with China in order to exploit the comparative advantage of the country in the form of low labor and technological cost Economic High tariffs on IT products makes Dell difficult to enter other markets apart from USA .since most of the population of the world is young and adaptive to change in technology, dell aimed to manufacture its products which are more user friendly and can be afforded by young professionals, because purchasing power of working population saw an increase over the past few decades. Since the economy saw a change due to the meltdown and recession, dell also had to modify some of its policies to cope up with the changing scenario. The change in the US economy also effected Dell with it bring change in its core policies of inventory and credit management of receivables and inventory conversion days to decrease its operating cycle and thus reduce cost. Social The values across the continents are changing with the passage of time, and now a global culture is arising meaning the presence of universal segment having the same values, likes and dislikes and other norms across the world. This offers exciting opportunities to various organizations including computer manufacturer in the form of standardized product development offers across the world with no adaptation. This translates into various economies, and low fixed costs, meaning change in attitude towards foreign brand. Technological Technological changes are happening at a very fast rate due to which Dell is able to provide advanced technology  products to the  customers. As a result of  technological changes Dell has also increased their product line. It is adapting to the technological changes as he old technology is becoming obsolete. One of the most important effects of technological changes that have led to the increase of the demand of Dell computers is their Direct Business Model. They have excellent ecommerce capabilities, which can be seen with the success of the dell. The recent technological changes can be seen in their recent products like New Power Edge Servers, New Enterprise Computing Portfolio, Innovation Aids Recovery, Ultra-Thin Laptop, Adamo, which will be in the market very soon. Dell could exploit the network-internet, extranet to reach the corners of the world. Five Forces Analysis The Porters five Forces model is a simple and powerful strategy analysis tool that helps managers to know where the control lies in a company situation. It helps in understanding the strengths of the company in the market against the competitors, suppliers, and buyers. According to Porter the nature of competitiveness in a given industry can be viewed as composite of five forces, rivalry among competitive firms, potential entry of new competitors, potential development of substitute products, bargaining power of suppliers and bargaining power of consumers (David, 2005). The relationship of Porters five forces model for Dell have been depicted. In the following the study explore the five elements that constitute Porters five forces one by one and evaluate their impact on Dell in particular and personal computer industry in general. Rivalry Amongst Existing Competitors The personal computer industry from the beginning is inclined toward consolidation, as the market type can rightly be cited as oligopoly. The industry contains players like Lenovo, HP, Toshiba, Sony etc. The competition in the market is based on price and competitive advantage. Threat of New Entrants Every player tries its utmost to beat and outperform competitors by producing the latest technology and then price them competitively. This probably the reason that new firms find it very hard to enter the market and the existing competitors trying their level best to either maintain their market. Bargaining Power of Buyer: In the personal computer industry the bargaining power of the buyer is very high due to the fact that there is very less amount of brand loyalty in the market because most of the manufacturer produced identical products. In additional to absence of brand loyalty, the switching cost is very low in the industry because most of the systems are based on the Intel processor. Moreover, customer also feels comfortable with backward integration and building their own system through selecting the individual components manufactured by different producers. Bargaining Power of Suppliers Traditionally the bargaining power of suppliers is also very high in the computer market. This is due to the fact that there are very few suppliers who supply the major components of the computer. For example the major suppliers of microprocessor are Intel and AMD. They are almost having the monopoly over the market. Moreover the organization will bear significant switching if the decided to change the component part suppliers. Substitute products Usually the availability of substitute does affect the sales and profitability of the computer and its various components to huge extent. Traditionally the threat of substitutes is very high for Dell. The computer industry has traditionally experienced similar products produced by the different manufacturer with a very little distinction between a computers produced by one manufacture with that of other. The competition between the rivals can be rightly cited as oligopoly because almost all the major producer manufactures identical products. The Industry Life Cycle: The computer industry as a whole has entered the maturity stage of product life cycle (Norman, 2010). Some of the weak competitors have disband their production while others (HP and Compaq) have consolidated their business due to decreasing margins with the passage of time and economic crunch that have started after the insolvency of Lehman Brothers. Most of the competitors are trying their level best to differentiate their offerings from the competitors in order to reduced value for their consumers, while other are trying to produce aesthetic design, ease of use, superior product performance. As depicted in Figure 1 the customer now Requires solution and convenience as compared to technology and performance. In order to stay competitive in the market all the players should continuously innovate their offerings according to the latest trends of the market . http://www.nngroup.com/reports/FigsFromIC/2-3.jpg Figure 1: Customer Preferences: adopted from http://www.nngroup.com/reports/life_cycle_of_tech.html.

Quarry Bank Mill †questions and answers Essay

1) Why did Samuel Greg establish a cotton mill in Styal in 1784? Greg established a cotton mill rather than a silk mill or other type of factory because cotton was the material that everyone wanted. Greg was a cotton merchant so he knew of all the advances in technology that were making it easier for cotton to be spun and woven. He knew that the machines making peoples jobs easier were too big to fit in their houses as they had done in the past, so he decided that if he built a mill to house them then he could make a lot of money seeing as cotton was in demand. Greg was a cotton merchant, so he knew the area. In the summer people would be farming, and in the winter they would be spinning cotton. Greg knew that these people would want a regular job to do all year so cotton was a good industry as they were already experienced at it, and wasn’t as laborious as farming. Also, due to the invention of John Kay’s flying shuttle in 1733, the spinners were struggling to keep up, as they could not spin enough thread for the weavers. Greg knew this so he decided that is he had a lot of spinners then he would be paid lots because thread for weaving was in high demand. Greg established his mill in 1784 because this was when the patents for cotton manufacture machines ran out. In 1771 Arkwright invented the waterframe which was a spinning machine powered by water. More cotton could be made, so the price would drop which meant more people would buy cotton. However, Arkwright had a patent on this machine so it was very expensive. Greg had probably been waiting until the patent on it ran out before he built his mill. The Arkwright waterframe needed a water supply, and Styal was the perfect place for Greg to build his mill. The land on which he built his mill was hilly, so very cheap because it was too steep for farming. It cost Greg about à ¯Ã‚ ¿Ã‚ ½2 per year to rent this land off the Earl of Stamford. The land that he bought had steep sides because it was part of a valley with a stream at the bottom. There were no factories upstream so there was nothing disturbing the waterpower, so Greg had a fast, regular supply of energy. Greg had the money to rent this land and afford to build a mill and employ workers because when he was 9 he moved to Manchester to live with his uncles who were in the cotton trade. He inherited à ¯Ã‚ ¿Ã‚ ½10,000 from one uncle when he died, and when the other uncle retired he left Greg à ¯Ã‚ ¿Ã‚ ½25,000 worth of business to Greg when he was 24. Styal was also a good place to build a mill because it was near to Manchester so there was a good transport system. Cotton was transported from Egypt and India to Liverpool, and from Liverpool it was taken along the Bridgewater canal to Broadheath. It would then be taken from Broadheath by horse and cart to Styal. This transport system was good fro Greg because it made the raw cotton accessible, and it was reliable so he could always have a steady incoming supply of cotton, and he could transport his own spun cotton to cotton merchants so had a steady income. Coursework: Quarry Bank Mill 2) To what extent do the Greg’s deserve their reputation as good employers? Samuel Greg seems like a good employer, but there are cases against him, and cases which enhance his reputation as a good mill owner. The working conditions in the mill were quite loud. Sources from the mill show us that there was fine cotton in the air, which got into peoples lungs and caused lung problems for workers. Also, the cotton was highly flammable, so a tiny spark from one of the machines could start a fire. The floors and ceiling support beams were made out of wood, which was also a fire hazard. However, Greg covered the ceilings with metal panels, and had stone staircases for a fire escape where people would be safe. In the mill it was very hot and humid because cotton was stronger when it was damp. Employees couldn’t open windows because they had to keep conditions like this, so they were forced to work in a hot and damp factory. The machines were all packed tightly into the factory and there were no safety guards so it was very easy to get caught up in the machines. However, sources from the mill show that there were very rarely any deaths from people getting caught in machines, although not all cases may have been recorded for the mill to avoid a bad, dangerous reputation. In the factory it would have been loud because of all the machines, so the workers put cotton in their ears to reduce the damage, as earmuffs only became law in 1986. Despite the fact these working conditions weren’t the best to be working in, all other mills were the same and possibly worse. The hours people worked were fairly similar to the hours worked by people at other mills. However, all ages worked the same. Sources at the mill, and source A tells us that all employees worked 68 hours a week. However, Source A was written in 1834, and the factory act was passed the year before in 1833. The factory act stated that 9-13 year olds only worked a 48 hour week, but Greg was making them work the same hours as all other employees over 13. However, there was no register of births until 1837, which meant that you didn’t know how old children were, so magistrates couldn’t prove that Greg was breaking the law. Also, other factory owners were doing just the same, and breaking other laws such as the night working of children, and making them work under the age of 9, whereas Greg was obeying these rules. Also, Greg employed families, so they could all work together, and employed apprentices. In Source A, Greg states that no children under 12 were made to work, however Greg wrote this himself so he could easily have lied as no inspector came to make sure he was telling the truth. Also, there were no birth certificates so it was impossible to prove how old the children actually were so Greg could make under 12s work and get away with it. Greg did not believe in punishing his workers, due to his religion, so there was no corporal punishment inflicted on his employees. Source A proves that Greg did not enforce corporal punishments, however, Source A is a questionnaire sent to Greg to answer about his own mill. The factory commissioners did not visit the mill; they just relied on the answers to the questionnaire given to them by the factory owners. Greg could have been biased in his answers because it was his own mill so he would probably have lied to make his mill seem better. Also, question 64 asks if any complaints have been taken against him or any overseers on the punishment of employees. No answer is given to this question, which makes it seem dubious. Either Greg was guilty and did not want to lie so he gave no answer, or he was being truthful and no complaint had been alleged so he did not answer because there had been no cases. Despite these details making Greg seem a good employer, there is also the case of Esther Price. Source C says that she was put in solitary confinement in a ‘dungeon’ with ‘windows darkened by boards being nailed up against them on the inside’. Price was supposed to have been in this room for 5 days without light, fire or a bed. However it is said that she escaped after finding out a dead body was in the room next to her and she was so terrified she managed to escape. This story seems a bit extreme, and is probably biased because it was written by John Doherty, who was campaigning for less working hours for mill employees, so he would be extremely critical and would probably exaggerate the details. We do not know how old Esther Price was, or whether she was a typical worker, or an exception. Also, if she had skipped work, why didn’t they just shave her head like they did to punish other girls, or just make her work through her break times to make up for the work lost. She was supposed to have been kept in a ‘dungeon’ but we do not know how big this room was, or whether it really was a dungeon. If Greg was not big on punishments, then why have a ‘dungeon’ specifically for solitary confinement, and if the boards keeping out the light were nailed on the inside, then why couldn’t the prisoner just pull them off? Greg was well known for being a good employer and running a good mill, so Doherty probably chose him to pick on to damage his reputation. Also, Esther stayed on at the mill after she was 21 and was allowed to leave the apprentice house, so her experience couldn’t have been that bad otherwise she would have left and got another job somewhere else. Sources at the mill tell us that the wages Greg’s workers received were less than in other mills, but the conditions were better, and better housing was provided. Greg built a village near to the mill for his workers to live in. The rent for these houses was less than in other places, and the houses themselves were better than in other places. Greg built two-up-two-down houses, which had more room and were better than the back-to-back houses built in other cities because instead of having a family or more in each room, you had a family in each half of the room so it was more hygienic. There were outside toilets for each of these houses in the small yard at the back, and there were allotments so workers could grow their own food and spend their money on other things. In this village, there was also a bakers, a few shops and a church for workers. In the apprentice house, apprentices were given a healthy diet, and were fed twice every day, which was extremely good as in other workplaces they would sometimes not receive any food in one day. Workers in the mill had a breakfast time before they started work; they stopped for lunch and then could have their own evening meal when they got home. Source B states that apprentices had every day, which would have been quite expensive. On the other hand, this source was written by Andrew Ure who was convinced that factories were a good way to keep children happy and employed. He was writing to argue that factories were good so would probably be biased. Sources at the mill show there was a doctor that regularly visited the apprentice house. Healthcare was not a necessity, so Greg was ahead of the future laws be making sure his apprentices were in good health and were cared for when sick. Greg made sure that the apprentices attended school regularly and they were taught how to read, write and some maths. This was probably for his own benefit because if his employees could read then they could read signs put up about hour or wage changes, or could go on to work sorting out the mills finances or something that required more than just a person with thin nimble fingers. In the workers village there was a church, and workers and apprentices attended the church regularly. Despite the cases against him, Greg appears to be a good employer. He was keeping almost all his working conditions within the law, and the factory conditions were no worse than other factories. He was educating his apprentices which was giving them a chance of a good future, and was sending them to church which wasn’t necessary but he wanted them to go anyway. He employed a doctor which wasn’t a requirement, so he wanted to keep his apprentices in good health. He also did not enforce physical punishments, and there were hardly any deaths. He provided them with cheap rent for good houses. I think that Greg was a good employer, but he did have an ulterior motive, which was money. By educating his apprentices they could do other jobs for him, which brought in more money than working machines. He may have built a mill purely because he was concerned about the families going out of business because of the new machines, or he would rather they worked in a factory with better conditions like his, or he built the mill because he wanted to make money, and he could make enough to afford to keep his workers happy.

Britain is a sexist society Essay

Sexism is prejudice or animosity towards gender, institutionally or personally. The term is most often used for women, but it is generally aimed for all genders. In the United Kingdom, in the past few years 72% of women claimed they got abused due to their workplaces. Compared to 67% in 2002, 72% of women said yes, when asked; if they had ever felt intimidated at work by a fellow employee. Even with these results, 81% of the women said that they would not report these cases to their managers because they would be shy or worried. In addition, they believe that being female harmed their chances of career progression (82%) in 2006, compared to 78% in 2002 because males are the dominant office culture. The main reasons that sexism takes place is because one gender will feel another gender is weaker and not as successful as another. They will feel as if they have not got the ability e. g: workplaces without giving them any chance to prove themselves. This is clearly a stubborn and an ignorant way to treat people. Sexism is certainly taking place in the UK and there are numerous ways, which denotes that sexism does manifest in this country, such as: making prejudice statements and using offensive terms. In addition there was someone paying you less because of gender, this would be sexism. If you make friends and talk to more people based on their personality, this will help fight sexism and also joining anti-sexist campaigns will help the community.

Software Patents, Copyright, and Piracy Issues in India...

Software Patents, Copyright, and Piracy Issues in India Introduction India has developed enormously in the field of science and technology. Information Technology has been one of the fastest growing sectors in the country and a major contributor to the economy. Indias economy has boomed over the past decade due to Governments initiates. With it vast pool of educated population and its leading presence in the Software arena India is fast becoming a knowledge hub. This paper gives an overview of Patent, copyright and Cyber laws, software piracy issues, and analyses the economic benefits of reducing piracy and the ethical issues of piracy. Overview of Patent, Copyright and Cyber Laws The protection regarding Intellectual†¦show more content†¦The legislation is supported by the Patents Rule, 1972(the Rules) which have been amended and update periodically, the latest amendment being Patents(Amendment) Rules, 1999. Key Features of Patents: *) the term of the patents was originally 14 years. This was amended under TRIPS obligations to 20 years *) Software can probably be patented in India. In the US and the European Union it can be patented if it shows technical effect. Article 27 of TRIPS lists out the patentable subject matter. *) Business Method cannot be patented in India as of now. It can be patented in US and European Union if it uses technology in a unique manner. *) The international governing patents include Paris convention and the Patent convention treaty. Copyrights: Copyright is about protecting the expression of an idea, rather than the idea itself. It covers original literacy, dramatic, musical or artistic work. Literacy works include computer programs, tables and compilations including computer database. Copyright Law: In India the Intellectual Property rights of computer software is covered under copyright law. Accordingly the copyright of computer software is protected under the provisions of the Indian Copyright Act 1957, which was substantially amended in 1994 and reintroduced in 1995. With these changes, the Indian Copyright Law has become one of the most stringent laws in the world. The 1995 law clearly explained for theShow MoreRelated Copyright Laws in India Essay3212 Words   |  13 PagesCopyright Laws in India This document is intended to give a brief overview of the patent and copyrights laws in India and a brief analysis on global issues related to these laws. India has progressed enormously in the field of technology and is ranked tenth in the pool of scientific and technical personnel in the world. There may be hundreds of economical, legal, ethical issues that might have global impact but discussing all of them here is almost impossible. Only the key issues are focusedRead MoreCopyright Protection on Internet9657 Words   |  39 PagesLEGAL ENVIRONMENT OF BUSINESS COPYRIGHT PROTECTION ON INTERNET (08BS0001781) SECTION-F Contents {text:bookmark-start} INTRODUCTION {text:bookmark-end} {text:bookmark-start} 1.1 About Intellectual Property [1] {text:bookmark-end} It is not material wants that seek ownership, but the ideas, skills and moral aspirations need equal protection. It refers to creations of the mind: inventions, literary and artistic works, symbols, names, images, and designs used in commerce. Read MoreSoftware Piracy3161 Words   |  13 PagesSOFTWARE PIRACY: ATTITUDES TOWARDS SOFTWARE PIRACY Prepared for English 310 CONTENTS Page Illustrations iv Abstract v Software Piracy: Attitudes toward Software Piracy 1 Purpose ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K..1 Scope ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K.1 Methodology ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K ¡K.1 What is Software Piracy? 1 Various Forms 2 Legal Issues 3 Student Awareness 4 FactorsRead MoreBriefly Compare the Political Regime Type in China and India. Which of the Two Would You Prefer to Do Business in and Why?1478 Words   |  6 Pagespolitical regime type in China and India. Which of the two would you prefer to do business in and why? India and China are two republics that have experienced very opposing political regimes throughout history. China has been fundamentally stable country with a lack of a distinct authority figure (Desai, 2003). Being a single party state China has been controlled by the Chinese Communist Party since the 5th National Congress held in 1927 (Wang, 2013). Correspondingly India, have always been a federalRead More Malaysian Piracy Industry Essay4809 Words   |  20 PagesMalaysian Piracy Industry Though it isn’t the largest or the most lucrative business of its type, the Malaysian software piracy industry is arguably the boldest and most blatant in the world. Despite international pressure, government crackdowns, and attempts by focus groups, the industry survives and flourishes to this day. The purpose of this examination is to reveal what keeps the pirates running, what is being done to curb them, and ethical issues involving the unauthorized duplicationRead MoreEssay on The Global Ethical Perspective of Peer-to-peer File-sharing4081 Words   |  17 PagesThe Global Ethical Perspective of Peer-to-peer File-sharing Introduction This paper is an analytical essay on global ethical issues on peer-to-peer (P2P) file-sharing. A history and background of peer-to-peer file-sharing will be given, as well as how it became an issue. This paper will explore what aspects of file-sharing are ethical and at what point it becomes unethical. An explanation of the laws will be described and whether the laws different from region-to-region around the worldRead MoreEthics of Information Communication Technology (Ict)27618 Words   |  111 PagesHuman Sciences in Asia and the Pacific (RUSHSAP) 241 ETHICS OF INFORMATION COMMUNICATION TECHNOLOGY (ICT) 1. INTRODUCTION Globalization and digital convergence in the emerging knowledge society has raised complex ethical, legal and societal issues. We are faced with complex and difficult questions regarding the freedom of expression, access to information, the right to privacy, intellectual property rights, and cultural diversity. ICT is an instrumental need of all humans for the gatheringRead MoreBusiness Ethics in India and Brazil1729 Words   |  7 Pagesfast growing nations. The countries I have selected are India in Asia and Brazil in South America. Both of these countries are part of the BRIC (Brazil, Russia, India and China) group of countries which represent 4 of the fastest growing economies in the world, as such there is a lot of interest with large organizations to enter and benefit from this growth. The first which focuses on India offers a list of ethical tips for operating in India, it talks briefly about the ethical climate in the countryRead MoreThe Trade Of Counterfeit Products Essay5404 Words   |  22 PagesAbstract: India is a one of the key markets of counterfeit products in South Asia which has negatively affected its economy since many years. The trade of counterfeit and pirated products hamper the development of knowledge and innovation as it can greatly reduce the economic benefits for the original creator of products. Widespread and rampant piracy and weak intellectual property rights (IPR) dilutes the development of local industry and also endangers the huge investments made in research andRead MoreThe Problems Of Intellectual Property Rights2654 Words   |  11 Pagesgoods in China influence the world. Introduction Both economically and socially, influence of China is substantial. Economic and social status of China is firm that it can not be oversighted. However, intellectual property rights have been rising issues in China. First step to solve the problem is realize there is one. It is critical to recognize which elements are violating IPR. Basic systematic error of IPR and counterfeit culture in China are main factors for the obstacles. Current state of

The Advantages of Cbest Writing Essay Samples

The Advantages of Cbest Writing Essay Samples Such essays shall have a good deal of quotations, based just on facts and laws, and show no more than the true picture of the circumstance. A descriptive essay conclusions should supply the reader with a mental picture of a particular matter. Ensure you determine the search phrases you will concentrate on in developing the essay. Examine the model essay and read the comments. Everything demands essay writing. With us, you're guaranteed that you'll find original essay writing online. Accordingly, from us you will discover expert essay writing online. Work on the essay for 30 minutes daily. The real leadership essay is simple to read and understand. Let that shine via your essay. Read the full essay and watch out for any mistakes. No matter the scenario, writing an introduction really is a significant step which shouldn't be dismissed or ignored. Write By simply writing often you might have the ability to write with increased command and facility. You are in charge of the narrative. Build a connection by means of your writing. A superb assignment writing service provider needs to be in a position to provide the precise time frame your work will take to finish and delivered. So be certain that you compare first and be bold and request the final specific price which you want to pay before engaging a firm. Therefore it's wise to check first if they actually supply the service you want to find on a standard basis. Therefore, if you can't compose an essay for virtually any reason, employing a writing service is a fantastic solution. There are a lot of ways to compose a potent introduction. There are sources that can provide you sample essays to use directly from their websites while some give room for downloads so that you may use the example at your own moment. Providentially, the procedure for ordering content is easy and effective. It also needs to be mentioned that personal essay examples can be obtained at no charge or at a fee, based on the source. The Cbest Writing Essay Samples Cover Up You se e, the conventions of English essays are somewhat more formulaic than you may think and, in lots of ways, it can be as easy as counting to five. After all, you don't need to provide your readers the incorrect interpretation. These sentences are entirely missing a comma. Grammar and spellings must be proper. Essay writing comes in various forms. You are able to obtain nearly every Sample essay online for unique subjects. You don't need to buy a Sample essay, as it's entirely free. Viewing a Sample essay and considering the matter of plagiarism is extremely important. The goal of the majority of high school essays (I'm generalizing here) is to report information or to demonstrate standard comprehension of the training course material. Any misunderstandings may influence the last grade. Should you need help to comprehend the many different kinds of public speaking, and indeed the social relevance of public speaking and why it's so very vital in some careers to learn the esse ntials of public speaking, then you will definitely find much in the 7 Words System that can help you. Top Cbest Writing Essay Samples Secrets Even in the event you take a notion from this kind of essay, make sure that you produce that idea in your words and cite some appropriate source. You may acquire an idea for a starting point in your essay. When you select the right topic you shall ensure it is attractive to the reader. Think freely, but you're not permitted to take into consideration anything else besides the topic available. The Foolproof Cbest Writing Essay Samples Strategy If you are searching for in an essay writing service, remember which not only is there the risk he discovered and disciplined, they might also lose their money and have something which necessitates extensive review anyway. Writing brilliant ideas is considered a sign of excellence and for that reason a concise bit of writing is guaranteed to be more inclined to engage the readers. To improve wr iting skills it's necessary to read a great deal, generally. There's a means to make academic writing fun. Don't forget that you're NOT writing your opinion on the subject. The previous ones are great since they have a better choice of reviews. To be certain you are on the most suitable way you will need help in writing your paperwork. Meanwhile, you will catch up on the TV show that everybody is referring to.

Pro-Gun Rights Essay - 2086 Words

â€Å"Shall Not Be Infringed† â€Å"When Governments fear the people, there is liberty. When the people fear the government, there is tyranny.† (Beck 35). This quote is from one of the greatest men in the history of the United States of America, Thomas Jefferson, the father of the Declaration of Independence, and the third President of the United States. The validity of his statement is not only historical, but as pertinent today as it was when spoken anew. It is learned in schools across the nation, although the importance of the words depends on the teacher, school, and region of the country. During the revolutionary period, King George learned this same concept the hard way, â€Å"†¦an armed populace is a populace that will not be pushed around.†Ã¢â‚¬ ¦show more content†¦Investigating all ten of the amendments to the Bill of Rights, only the second specifically ensures that this be expected. The only true power that the people of a nation can have over their government is the ability t o remove it if it becomes more powerful than the people. This is a belief that is continuously defended or confronted around the world and throughout history. Unfortunately, when the people have an army standing between them and the government, the means to fight become very important, albeit difficult. The federal government of the United States, when they attempt to create laws on gun control, does not have the law on their side. Thanks to the founding fathers of the United States, this right is ensured through time. They understood that any form of government can become corrupt and eventually the people will need a legal way to ensure that they can take back their personal liberties if it becomes necessary. In the period of time before the United States became the young country it is today, in order to secure and protect established borders, the colonists were in need of the assistance of the standing army of King George, the British Red Coats. As soon as the colonists decided to revolt excessive taxation and other mandates being imposed on towns and states,Show MoreRelatedA Pro Gun Rights Activist1621 Words   |  7 PagesOn the 8th of March 2016 Jamie Gilt, a pro-guns rights activist was shot in the back by her four year old child. She had previously developed an online presence where she claimed that guns were not only safe around children but absolutely necessary for their protection. She argued with commentators on her Facebook page ‘Jamie Gilt for Gun Sense’ that children should be taught to use guns and the day earlier posted â€Å"Even my 4 year old gets jacked up to target shoot with the .22†. She had left a loadedRead MorePro Gun Control Debate: Our Right to Safety Essay885 Words   |  4 PagesPro Gun Control Debate: Our Right to Safety Many arguments for and against gun control in our country revolve around the second amendment. Unfortunately the majority of those arguments are based on an individual’s perception of what the second amendment means. The second amendment was adopted into the United States Bill of Rights in 1791, which was 222 years ago. The second amendment states, â€Å"A well regulated Militia, being necessary to the security of free State, the right of the people to keepRead MoreEvolution of Gun Culture in America933 Words   |  4 Pagesmodern and contemporary culture is a rapidly changing trend, whereas the deeper culture of political values and beliefs change more slowly. This is the case with what is termed as the gun culture in the United States of America. The gun culture in America is predominantly divided into the ‘pro-gun right group’ and the ‘pro-gun control group’. These two groups contend against each other for social and political resources, and thi s is struggle that is infamous in the contemporary American culture. Each groupRead MoreThe Issue Of Gun Control Laws1407 Words   |  6 Pagesno exact definition of mass shootings, but most sources believe it is when four or more people are shot in one location. Citizens in America are easily able to obtain a gun and the growing issue is whether this should change and stronger laws in place. Although citizens believe gun control laws take away second amendment and right to protect themselves, mass shootings are increasing yearly and action needs to happen to prevent the next attack. America’s at a high with the country beingRead MoreGun Control Is Needed1472 Words   |  6 PagesGun Control Is Needed Regulation of guns is a necessary action that needs to be taken in order to save lives. A good definition of gun control is needed to understand the sides and issues. Gun control is an effort to stop the rise in violent crime by strengthening laws on the ownership of firearms. Persons in the group against gun control believe that gun control is wrong, and that it is a violation of constitutional rights. Those in favor of gun control believe that gun control is goodRead MoreGuns, Ammunition And Its Negative Effects On Society944 Words   |  4 PagesIssue Question: can the availability of guns, ammunition and its negative effects on society be a thing of the past? Claim: An analysis of the United State gun culture reveals their negative effects on society. Thesis paragraph: In the wake of recent killings and mass shooting in sandy hook and other locations across the country and communities, there has been public cries for the need for stricter gun laws and regulations. Gun violence has become a major problem facing the country. Day inRead MoreThe Debate Over Gun Control1732 Words   |  7 Pages The topic of gun control has become very popular in recent years as there is now more controversy than ever about the role that guns play in today’s world. I have come to be interested in this topic because it seems like not a day goes by anymore where there isn’t a newspaper published with an article slandering either the pro or anti gun control activists. Going into this topic, I was assuming that I would end up reading about a lot of school shootings and how it is just guns that are causingRead MoreDemocrats Vs. Republicans 20161324 Words   |  6 Pagesthings you might disagree with but they might have things you like, yo u should vote on the one you think is the lesser of two evils based on them and not a bias opinion. I took the time to find where they stand on three topics, immigrants, abortion, and guns. There are many more issues that they stand, I just want to give you a general idea so you can vote when you’re educated on the topic. Here are the candidates and where each individual stands. Hillary Clinton is a democrat. She want to make it soRead MoreThe Battle Of Gun Control847 Words   |  4 Pages Gun Control  refers to laws or policies that regulate the manufacture, sale, transfer, possession, modification, or use of firearms in order to  control  crime and reduce the harmful effects of violence. (http://definitions.uslegal.com/g/gun-control/) US Legal Definitions. The gun control debates and issues started hundreds of years ago. First, in 1873 the State of Georgia passed a law to ban handguns and this law was thrown out, because it was ruled unconstitutional. Second, in 1865 several SouthernRead MoreGun Rights And Gun Control1405 Words   |  6 PagesGuns right now in the nation of the United States of America are at the center of a heated debate on how they should be handled. With Civilians and politicians alike arguing over how they should be regulated we have many arguments for the pros and cons of both sides. Gun control is now one of the most talked about subject in the country due to the vast amount of mass murders and school shootings that have been taken place in recent years. However, even with all this gun violence taken place it seems

Accounting Superannuation in Australia

Question: Describe about the Superannuation in Australia. Answer: Introduction In Australia, superannuation refers to accumulated funds arrangement made by people in Australia to provide them retirement income. This is encouraged by the Australian government and supported with other tax benefits. Australias superannuation system is ranked with number three in the world lagging behind by Netherlands and Denmark only (Copy of home (2016)). There is a minimum standard set by the government for contributions as well as for superannuation fund management for employees. Contributions have to be made by the employer for employees a part from the salary and wages provided to the employees. Australian retirement 3 pillar system is (Australia's three-pillar system 2016): This contribution was 9.5% since July 2014 but is proposed to increase up to 12% from 2019((APRA) 2014). Tax concessions are also focused to attract for voluntary concessions. Retirement age which is currently 65 years for males and 64 years for females is to be increased to the age of 67 years. But veterans would get benefit before five years from civilians. These elements are subject to change if: Employers are ready to pay a higher percentage than a government has decided.(large companies, a good employer) Employees are eager to pay pre-tax contributions from their wages and salary packages. After tax contribution is also a way to contribute, which is $1, 50,000 cap a year or $450,000 in a period of three years. Government contributing a higher of up to $1,000 a year for low income groups. Current superannuation scheme in Australia was launched in 1992 July according to which all employers have to contribute for retirement scheme of their employees. It was started with a percent of 3% of the wages of the employees, But currently it is 9% (APRA 2016). History of superannuation funds It was first came in existence in 19th century in Australia. Superannuation was very common t use in 19th century which directly refers to the retirement benefits or we can say pension schemes. In most countries it is refereed as private pension which is known as superannuation by Australians. It is not very clear why pension is termed as superannuation in Australia but is different from what is provided by the private parties and what is provided by government as age pension. It could be stated as what the retirees get after a longer period of working life an employees gets in lump sum. Firstly it was provided by bank of Australiasia in October 1842, which was available upto 1940s the benefit of superannuation was available only to males, public sector group employees of large companies. Employer provided a small amount of benefit only and that was also not very compulsory. After 1974, 32.2% of salary and wage earners were considered for superannuation out of which 40.8% were male and only 16.5% were females. At that time superannuation was provided in the form of defined benefit funds. In order to make superannuation a universal approach, ACTU came in form and attached with the government and it was announced to pay 3% of wages and salaries of employees as superannuation by the employer to his/her employees. It changes many of lives of employees in Australia but not of all. This submission was made by in accordance to some supporting arguments: First implication was that, the workforce and population is getting old. Positive effects of last retirement benefits. Wide disparity existing in the economy as most of the population was not covered under superannuation schemes only large income groups, and male populations are getting these benefits. It was proposed that females and low income groups are also entitled to get these benefits. Size of superannuation funds Superannuation funds were $2,046 billion at the year ending 2015 in December quarter which was slightly high from the last one (Superannuation Statistics 2016). It was nearly $1 billion in March quarter of 2015 which was just increased by 6.1% at December end of the year (Works, S. (2016). Total assets were $449 billion in December 2015 which was 14.3% more from the last year. Superannuation 2016 statistics Feb 2016 Overview Type of fund Total assets ($billion) No. of funds No. of accts (June 15) Corporate 54 36 0.3 million Industry 446 43 11.3 million Public sector 354 38 3.5 million Retail 541 148 13.8 million Funds with less than 5 members 597 568,943 1.1 million Balance of statutory funds 56 Total 2,046 30.0 million Manner of investment (funds with more than four members) Manner of investment $ billion Directly invested 480 Placed with Investment Managers 677 Invested in Life Office Statutory Funds 195 Total assets 1,352 Funds with more than four members Dec quarter 2015 $ million Employer DB contributions 3,539 SG contributions 13,858 Salary sacrifice 2,009 Member contributions 5,162 Net rollovers to SMSFs 1,740 Lump sum benefits 8,157 Pensions 7,544 Contributions taxes 2,469 Earnings tax 986 Operating expenses 1,609 Net earnings 36,255 Net growth 41,586 Asset allocation (funds with more than four members) Asset class Amount ($billion) % Cash 166 12 Australian fixed interest 183 14 International fixed interest 96 7 Australian listed shares 317 24 Listed property 45 3 Unlisted property 71 5 International shares 295 22 Infrastructure 61 5 Hedge funds 24 2 Unlisted equity 62 5 Other 31 2 Total 1,352 100 MySuper funds Characteristis Amount($billion) % Cash 37 8 Australian fixed interest 51 11 International fixed interest 27 6 Australian listed shares 97 22 Listed property 9 2 Unlisted property 34 8 International shares 115 26 Infrastructure 32 7 Hedge funds 0 0 Unlisted equity 27 6 Other 15 3 449 100 Various sector of superannuation funds Types of superannuation funds In Australia there are around 500 types of superannuation funds currently operating. 362 out of 500 have total asset of greater than $50 million. Funds are totalled of $2.05 trillion in March 2015(Ato.gov.au. 2012) Superannuation fund assets My super This fund offers a new type of account. This will replace the default accounts will super funds accounts. It can be one chosen by the employee or the employer. It offers Easy features Cheap fees Single stage investment options Retail funds These funds are run by banks or some investment companies. Anyone can join retail funds and can have a various options to invest. These are usually of low but are offered in low to high at every range. Industry funds There are around 5-15 investment options available to the employees Funds are accumulated Long term investors can gain defined benefits These funds are available at low fees. Self managed super funds SMSFs come with self managing control on funds but with more responsibility as well as workload. This is suitable for people who have super skills to manage financial and legal terms (McIntyre, T.M. (2016). It is the largest of all funds with 99% of the total number of funds (RiceWarner 2014). SMFs property investment SMFs allow to purchase real estate in residential sector ( Ambachtsheer K., Capelle R., Lum H., (2006) Individuals can withdraw superannuation fund when he fulfils all the conditions laid down by schedule 1 of superannuation industry regulation 1994(Journal of Applied Finance, Spring/Summer 2008.) Importance of superannuation and expected Growth in superannuation assets Australians are going to live a healthy and longer life that means you will need a big fund after your retirement. People cannot only rely upon pension schemes. In Australia if you are working under someone then your employer will contribute 9.5% of your salary a part from your salary to your superannuation guarantee fund, fund the one which is chosen by you or suggested by your employer or financer. Retirement could last a long Pension could not be sufficient Insurance cover Great tax benefits Expected growth in fundsCountry is expecting a rapid growth in superannuation assets from now to 2035 in various sector corporate, self managed, public sector, industry, retail, and retail employer sponsored sectors (Choonara, J. (2009),). Challenges being faced by: Long term growth of Australia hinders on productivity performance. Key drivers are competition and innovation (OECD (2006). There are various gaps to the system. Sustainability: climate change and other environmental issues like water issues demonstrates bio-physical forces that are big challenges to be faced in near future. Technology advancement: world is getting digital. There is a rapid transformation in technology day by day that cannot be predicted. Demographic shift: Australias population is getting older and our focus is old people of aged above 65 years which is going to be rise from 13.5% to 22.7% in 2050. Health care facilities, and other amenities is a big challenge. Shift in global economic weight: middle class population in Asia pacific is expected to grow very fast, so this is a big challenge to overcome. Some short term challenges are: Volatility in world economy Structural change Productivity Fiscal unsustainability Australia has faced global financial crisis in 2007. But Australia was the least escaped country all over the world. Australian banking sector was also very less affected. Rather there have been continuous fall in financial companies from market practices and investment funds. Again in 2009 market fall by 41% from the peak point of November 2007 creating huge losses for investors and pension fund sector (APRA 2007). Australia was the second biggest issuer of pension securities and funds. Problems of investors protection arrangement and margin lending were mentioned in order to failure of the market. Many funding banks faced fall in goodwill as they were not sufficient to provide funding and not providing services. There were many reasons of continuous financial crisis. Firstly the crisis was neglected by the economists. Secondly, there were many issues which remain unsolved among economists and political leaders (APRA 2009). Recommendations Setting clear objectives for the system of superannuation: Government should focus to develop such system to strengthen the objectives of the superannuation guarantee scheme within the law of government in 2016(Treasury 2001). Improving efficiency: By the end, government must intend to introduce a system which works efficiently and effectively with allocating new employees or staff to fund schemes. Choice of funds: Government should extend the choice option of fund to more employees even to those who cannot choose their option of superannuation funds due to some legislation rules. Retirement income: Government should progress the retirement income of the employees and support the CIPR (comprehensive income products for retirement). Member engagement: Government should agree practicable and cost effective fund schemes for superannuation of employees. Financial advice: Financial interest of firms and consumers should be aligned Government should focus to use a differ approach for superannuation schemes with life insurance firms. Government should propose to support retail life insurance industry with legislation and regulatory firms. Government must support Australian securities and investment commission after going through structure of remuneration in mortgage and broking sectors. Professional advisers issuance: Professional advisers will be developed by the legislation in 2016 by giving them adequate qualification, and professional training. Financial advice: General advice should be provided to consumer in order to alleviate misunderstanding. Legislations needs to be developed to financial advisers and mortgage brokers. References: OECD (2006), Guidelines on Pension Fund Asset Management: Recommendation of the Council. ABS.(2007).Employment arrangements, retirement and superannuation, Australia Apr to Jul 2007 (Re-Issue). (Cat. No.6361.0).Canberra, Australia:Australian Bureau of Statistics. .(Accessed: 20 May 2016) ABS.(2009).Employment arrangements, retirement and superannuation, Australia Apr to Jul 2007 (Re-Issue). (Cat. No.6361.0).Canberra, Australia:Australian Bureau of Statistics(Accessed: 20 May 2016) The Treasury.(2001).Towards higher retirement incomes for Australians: A history of the Australian retirement income system since Federation.Canberra, Australia:The Australian Government the Treasury(Accessed: 20 May 2016).