Perception towards mutual funds Essay

Abstract: Mutual Funds provide a platform for a common investor to participate in the Indian capital market with professional fund management irrespective of the amount invested. The Indian mutual fund industry is growing rapidly and this is reflected in the increase in Assets under management of various fund houses. Mutual fund investment is less risky than directly investing in stocks and is therefore a safer option for risk averse investors. Monthly Income Plan funds offer monthly returns and invest majorly in debt oriented instruments with little exposure to equity. However it has been observed that most of the investors are not aware of the benefits of investment in mutual funds. This is reflected from the study conducted in this research paper. This paper makes an attempt to identify various factors affecting perception of investors regarding investment in Mutual funds. The findings will help mutual fund companies to identify the areas required for improvement in order to creat e greater awareness among investors regarding investment in mutual funds. Introduction A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money, thus collected, is then invested  in capital market instruments such as shares, debentures and other securities. The income earned through these investments and the capital appreciation realized is shared by its unit holders in proportion to the number of units owned by them. Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. Monthly Income Plans or MIPs invest maximum of their total corpus in debt instruments while they take minimum exposure in equities. It gets benefit of both equity and debt market. These schemes rank slightly high on the risk-return matrix when compared with other debt schemes. There is considerable amount of research being done regarding investment in mutual funds. However very little research has been done to study the perception of investors regarding investment in mutual funds especially MIP funds. Literature Review Ippolito (1992) states that an investor is ready to invest in those fund or schemes which have resulted in good rewards and most investors’ are attracted by those funds or schemes that are performing better over the worst. Goetzman (1997) opined that investor’s psychology affects mutual fund selection for investment and to withdraw from the fund. De Bondt and Thaler (1985) submitted that mean reversion in prices of stock is backed by investor’s retrogression which is based upon investor’s psychology to overvalue firm’s recent performance in forming future expected results which is also known as endowment effect. Gupta (1994) surveyed household investor to find investors’ preferences to invest in mutual funds and other available financial assets. The findings of the study were more relevant, at that time, to the policy makers and mutual funds to design the financial products for the future. Kulshreshta (1994) in his study suggested some guidelines to the investors’ that can help them to select needed mutual fund schemes. Shanmugham (2000) conducted a survey of individual investors with the objective to find out what information source investor depends on. The results explained that they are economical, sociological and  psychological factors which control investment decisions. Madhusudhan V Jambodekar (1996) conducted his study to size-up the direction of mutual funds in investors and to identify factors that influence mutual fund investment decision. The study tells that open-ended scheme is most favored among other things and that income schemes and open-ended schemes are preferred over closed- ended and growth schemes. News papers are used as information source, safety of principal amount and investor services are priority points for investing in mutual funds. Sujit Sikidar and Amrit Pal Singh (1996) conducted a survey to peep in to the behavioral aspects of the investors of the North-Eastern region in direction of equity and mutual fund investment. The survey showed that because of tax benefits mutual funds are preferred by the salaried and self-employed individuals. UTI and SBI schemes were most preferred in that region of the country over any other fund and the other funds had been proved archaic during the time of survey. Syama Sunder (1998) conducted a survey with an objective to get an in-depth view into the operations of private sector mutual fund with special reference to Kothari Pioneer. The survey tells that knowledge about mutual fund concept was unsatisfactory during that time in small cities like Visakapatanam. It also suggested that agents can help to catalyse mutual fund culture, open-ended options are much popular than any other schemes, asset management company’s brand is chief consideration to invest in mutual fund. Anjan Chakarabarti and Harsh Rungta (2000) emphasised the importance  of brand in ascertaining competence of asset management companies. Shankar (1996) suggested that for penetrating mutual fund culture deep in to society asset management companies have to work and steer the consumer product distribution model. Raja Rajan (1997) underlined segmentation of investors and mutual fund products to increase popularity of mutual funds. Objectives of Study 1. To study the investment pattern of Indian Investor. 2. To find out the awareness level of investors regarding mutual funds. 3. To find the type of scheme of mutual fund preferred by investor. 4. To find out the importance of factors like liquidity, higher return, company reputation and other factors that influence investment decision of mutual fund holder. 5. To find out awareness level of investors regarding Monthly Income Plan fund. 6. To ascertain the most preferred factor for investing in MIP fund. Research Methodology Investor’s main objective is to earn higher returns keeping in mind the risk and liquidity factor. With this objective in mind, an investor is looking out for various investment avenues. Mutual funds offer comparatively better returns and have less risk as compared to direct investment in stock market. In this research paper, an attempt has been made to evaluate the perception of investors regarding mutual fund investment with special emphasis on Monthly Income Plan funds. A survey was conducted in Pune city during the period June 2013 to September 2013. A sample of 150 individual mutual fund investors were surveyed through a pre-tested questionnaire. The investors were selected on the basis of those who have made prior investment in mutual funds and have some knowledge about the basic terminologies involved with mutual funds. An attempt has been made to find out the perception of investors regarding mutual fund investment and to identify the factors considered to be important by the investors before investing in any mutual fund. The awareness level of investors regarding Monthly Income Plan funds and their benefits is also studied.

Island of the Sequined Love Nun Chapter 56~57

56 Escape Kimi was trying to call up thunder and was having no luck at all. He'd been chanting and waving his arms for half an hour and there still wasn't a cloud in the sky. â€Å"You're not holding your arms right,† Sarapul said. He was lying under a palm tree, chewing a betel nut and offering constructive criticism to the navigator. Sepie lay nearby watching. â€Å"I am too,† Kimi said. â€Å"I'm holding them the same way you do.† â€Å"Maybe it doesn't work for Filipinos.† â€Å"It's because I'm shot,† Kimi said. â€Å"If I wasn't shot, I could do this.† Sarapul scanned the horizon. Not even a bird. â€Å"That's it. It's because you're shot.† He spit out a red stream of betel nut juice. â€Å"And you're not holding your arms right.† Kimi resumed chanting and waving his arms. â€Å"Hey!† Sarapul said. â€Å"What? Did you hear thunder? I knew I could do it.† â€Å"No. Be quiet. Someone is calling you.† Kimi listened. Someone was calling him, and they were getting closer. He limped down the beach toward the voice and saw Tucker Case coming around the island. â€Å"Hey, boss, what you doin' out here during the day? The Sorcerer gonna be plenty mad at you.† Tuck was out of breath. â€Å"He is mad. I need your boat, Kimi. And I need you to navigate for me.† â€Å"Not his ship,† Sarapul said. â€Å"My ship.† â€Å"The doc is going to kill me if I don't get off the island. Can I use your boat?† The old cannibal was silent for a moment, thinking. â€Å"Where you go?† â€Å"I don't know. Guam, Yap, anywhere.† â€Å"Can I come?† â€Å"Yes, yes, if I can use your boat.† â€Å"Okay, we leave five days. Right, Kimi?† Kimi looked at Tuck. â€Å"It not be good sailing for five days.† â€Å"I have to go now, Kimi.† â€Å"Can Sepie come?† Sepie stepped back, surprised. â€Å"You want to take me? Women don't sail.† â€Å"You come,† Kimi said. â€Å"Okay, boss?† he said to Tuck. Tuck nodded. â€Å"Whatever. Sepie, go tell Malink that I need everyone to bring drinking coconuts. Many drinking coconuts with the husks taken off. Bananas, mangoes, papaya, and dried fish if he has any.† â€Å"There is plenty shark meat,† Sepie said. â€Å"I need it now, Sepie. Go. Tell Malink that Vincent demands it.† Sarapul began to chop at the underbrush in front of the sailing canoe to clear a path to the water. â€Å"Put down palm leaf to slide ship on,† he told Tuck. Tuck began to gather long palm fronds and lay them down in a path to the water. â€Å"Kimi, can you go get the things from my pack? There's things we can use.† â€Å"What about Roberto?† â€Å"Call for him, but go get the stuff. The money too.† â€Å"Okay, boss.† Ten minutes later Tuck looked up to see Malink leading a line of Shark People through the jungle. All were carrying baskets of food and husked green coconuts. â€Å"You are leaving?† â€Å"Yes, I have to go, Chief.† â€Å"You are taking our ship and our navigator.† â€Å"And our mispel,† Abo added from behind Malink. â€Å"I have to go, Malink. The Sorcerer and the Sky Priestess are going to kill me.† â€Å"But Vincent send you. How they hurt you?† â€Å"They don't really believe in Vincent. They use him to get you to give up the chosen, Malink. They're going to start killing off your people too.† â€Å"They no kill the Chosen. Chosen are for Vincent.† â€Å"No. I told you before. They take out your organs and sell them to be put inside of other people.† Malink scoffed. â€Å"You can no put one man kidney in other man.† â€Å"It was in People magazine. Didn't you see it? Demi Moore, Melanie Griffith, Mariel Hemingway, all of them? You didn't read about it?† Recognition lit up Malink's face. â€Å"Boob job!† â€Å"Yes,† Tuck said. â€Å"Where do you think they get those boobs?† â€Å"Oh, no.† â€Å"Yes.† â€Å"He speaks the truth,† Malink said to the islanders. â€Å"It was in People. Put the food in the boat.† He took Tuck aside. â€Å"You will come back?† â€Å"I'll try.† â€Å"And bring our navigator.† â€Å"I'll try, Malink. I really will.† â€Å"You try.† â€Å"Tide,† Kimi called. â€Å"We go now.† The center of the canoe was filled with coconuts, fruit, and bundles of dried shark meat wrapped in banana leaves. Kimi directed the men to get on either side of the canoe and push it over the mat of palm fronds to the water. When it was afloat, Tuck lifted Sepie in, then climbed in himself. Kimi, standing on the outrigger platform, started to hoist the sail. It was the shape of a tortilla chip stood on end with a bite taken out at the top. Tuck recognized the pieces of his pack sewn into the nylon patchwork. â€Å"Where is Sarapul?† Kimi said. â€Å"Here!† The old cannibal was running out of the jungle, seeming stronger now than Tuck had ever seen him. He had gone back for his spear, a long shaft of mahogany with a wickedly barbed metal tip. Tuck caught the old man by the forearm and pulled him out of the surf and into the canoe. The canoe was already fifty yards from the shore. Sarapul took the long oar at the rear and steered it toward the channel as Kimi stood on the outrigger platform and manipulated the sail. The Shark People stood on the beach looking stunned. A few waved. Malink looked forlorn, Abo heartbroken. â€Å"Thanks,† Tuck shouted over the wave. â€Å"Thank you, Malink.† â€Å"You will come back.† Malink said. It was not a question. Tuck turned to look out to sea, then looked back to see the Shark People wading into the water after them. Behind them he saw a dark figure come out of the jungle. There was no warning shot or demand to halt. Stripe came out onto the beach and opened up with the Uzi. Tuck pushed Sepie's head down under the edge of the gunwale just as a line of bullets stitched and splintered the wood. Kimi screamed and Tuck looked up to see a row of red geysers open in his back. He clung to one of the lines for a second, then fell into the sea. Another scream, this one from Sarapul, the hideous screech of a raging lynx, and the old man went over the side. The gunfire stopped and Tuck risked popping his head up to look back to the beach. Stripe was slamming a new clip into the Uzi as he waded after the canoe. The Shark People had fled from the water and disappeared into the jungle or were cowering on the beach, unable to move. With the sail loose, the canoe had swung around and was being carried by the tide toward the reef. They would miss the channel by only a few feet, but they would miss it and run aground on the reef. Tuck reached up to grab the steering oar just as Stripe let off another burst from the Uzi. At a hundred yards he was spraying a wide pattern, but Tuck heard a couple of bullets thunk into the side of the canoe. The normally crystal water near the shore was clouded with the sand and silt thrown up by the Shark People's retreat, so Stripe did not see the dark shape moving through the water toward him. He wanted a shot. He set the Uzi to semiautomatic and unfolded the stock to take careful aim. Tuck was standing now, leaning hard on the steering oar to bring the canoe around and through the channel. The outrigger scraped over the reef as the canoe approached broadside. Stripe lined up the sights between Tuck's shoulder blades, held his breath, let it out, then squeezed the trigger. Sarapul came out of the water like an angry marlin, spear-first. The metal point entered just under Stripe's chin and exited his skull at the crown, dragging brain and bone on its evil barb. As Stripe fell back, he emptied the clip into the sky. The canoe slipped through the channel into the open ocean. Out on the horizon, a small cloud appeared and dropped a mercurial lightning bolt into the sea, followed a few seconds later by Kimi's thunder. 57 West with the Bat The Sorcerer stood on the beach over the supine body of Yamata. The spear was still sticking out of the guard's skull like a gruesome note spindle waiting for a canceled receipt from the Reaper. â€Å"How did this happen?† the Sorcerer asked. Malink looked at his feet. The Sorcerer seemed more surprised than angry. A day had passed since Sarapul had killed Stripe, and Malink had waited in fear for the time when the Sorcerer would come looking for him. The other guards had torn the village apart looking for Tuck, and Malink had confessed that the pilot had left the island in an old canoe, but he had claimed ignorance of the whereabouts of the guard. Sarapul had been right. They should have pushed the body out to the edge of the reef for the sharks to eat. Actually, that had been Sarapul's second suggestion for the disposal of the body. â€Å"It look like accident,† Malink said. â€Å"Maybe he running and fall on his spear.† â€Å"I want the man who did this, Malink,† the Sorcerer said. â€Å"He is dead.† â€Å"The Filipino did this?† Malink nodded. The other guards had found Kimi's body in the village, where the Shark People had been preparing it for burial. â€Å"I don't think so. The Filipino took four bullets in the back. Whoever did this was very strong. Now you must tell me the truth or Vincent will be angry.† Malink was not afraid of Vincent's wrath. He only now realized that all the wrath his people had ever felt from Vincent had come by way of the Sorcerer and the Sky Priestess. He was afraid of the Sky Priestess. â€Å"The American do this before he leave in the canoe. The guard shoot the girl-man and the American kill the guard.† â€Å"Why didn't you tell me about this before?† â€Å"I am afraid Vincent will be angry.† â€Å"Where did they get a canoe? None of the Shark People know how to build a canoe.† â€Å"It was the girl-man. He know how. He build with Sarapul.† The Sorcerer balled his fists. â€Å"And Sarapul is gone too.† Malink nodded. â€Å"He sail away.† â€Å"Do you know where they were going?† Malink shook his head. â€Å"No. Sarapul is banished. We no talk with him.† â€Å"Where's the guard's weapon?† Malink shrugged. The Sorcerer turned his back and began walking up the beach. â€Å"Have your people bury this man, Malink. Don't let the other guards see him. And be ready. The Sky Priestess will visit you soon.† Sarapul crawled out from some nearby ferns and stood at Malink's side, watching the Sorcerer walk away. â€Å"We should have eaten this guy,† he said, kicking Yamata's body. â€Å"This is very bad,† Malink said. â€Å"He killed my friend.† Sarapul kicked the body again. â€Å"The Sky Priestess will be very angry.† Malink was, once again, feeling the weight of his position. The old cannibal shrugged. â€Å"Can I have my spear back?† Tuck knew that there was a way to use the hands of a watch in conjunction with the movement of the sun to determine direction, but since he wore a digital watch, it wouldn't have done him any good even if he knew the method, which he didn't. He guessed that Guam lay to the west, so he steered for the setting sun, spent the night guessing, and corrected his course to put the sun behind them at sunrise. He did know how to sail. It was required knowledge for a kid growing up in a wealthy family near San Diego, but celestial navigation was a complete mystery. Sepie was no help at all. Even if she knew anything, she hadn't said a word since Kimi had been shot. Tuck forced her to drink the water from a couple of green coconuts, but other than that, she had lain in the bow motionless for twenty-four hours. He was now looking at his second sunset at sea. He corrected his course and realized that they must have been traveling north most of the day. How far, he couldn't guess. He steered southwest until the sun lay on the water like a glowing platter, hoping to correct some of the damage. He really wished that Sepie would come around. He needed some sleep, and he needed some relief from his own thoughts. Thoughts of the Sky Priestess, of the Sorcerer, and of his dead friend Kimi. Despite the navigat-or's surly manner, he had been a good kid. Tuck, who had been brought up in relative luxury, couldn't imagine having endured the life that Kimi had lived. And the navigator had never given up. He had lived and died with courage. And he would still be alive if he hadn't met Tucker Case. â€Å"Fuck!† Tuck said to no one. He wiped his eyes on his sleeve and squinted at the gunmetal waves. There was a flapping noise up by the mast and Tuck adjusted the steering oar to catch the wind. The sail filled again, but the flapping continued for a second before it stopped. Roberto caught the shroud line that was secured to the outrigger and did an upside-down swinging landing that left him looking to the back of the canoe. Tuck couldn't have been happier if it had been an angel hanging from his shroud line. â€Å"Roberto?† â€Å"Yes,† the bat said. He was speaking in his own voice, not Vincent's. The accent Filipino, not Manhattan. Tuck almost burst out laughing. His mood swings were so rapid and wide now that he was afraid his sanity might be falling through the chasm. â€Å"I didn't recognize you without your glasses.† â€Å"I no like the light,† Roberto said. Tuck looked to Sepie, still lying in the bow. â€Å"Look, Sepie, it's Roberto.† The girl did not stir. â€Å"You are very sad about Kimi,† Roberto said. â€Å"Yes,† Tuck said, â€Å"I am sad.† â€Å"He tell you he was great navigator and you no believe him.† Tuck looked away. Something about bats increases shame by a factor of ten. â€Å"You are going the wrong way,† the bat said. â€Å"Go that way.† He pointed with a wing claw. The wind caught his wing and nearly spun him off the shroud line. He braced himself with the other wing claw and pointed again. â€Å"I mean that way.† â€Å"You're shitting me,† Tuck said. â€Å"That way.† â€Å"That's north. I'm going to Guam. West.† â€Å"That's west. I am born on Guam.† â€Å"You're a bat.† â€Å"You ever see a lost bat?† â€Å"No, but I've never seen a talking bat either.† â€Å"See?† Roberto said, as if he had made his point. â€Å"That way.† After all the evidence is in – after you've run all the facts by everything you know – and you're still lost, you have to do some things on faith. Tuck steered in the direction Roberto was pointing. A few minutes later he looked up to see Vincent sitting on the pile of coconuts in the center of the canoe. â€Å"Good call, listening to the bat,† Vincent said. â€Å"I just wanted you to know that the Shark People are going to build some ladders.† â€Å"Well, that's a useful bit of information,† Tuck said. â€Å"It will be,† Vincent said. Then he disappeared.

Arranging Payments for the Price of Goods Bought in an International Essay

Arranging Payments for the Price of Goods Bought in an International Sale is by the Use of a Documentary Credit - Essay Example 1.1 Definition and Description of Credit Documents a. Documentary Credits For international transactions, buyers and sellers approach their banks, which will in turn undertake a written agreement for the buyer that promises to pay a certain currency value in favor of the seller on the condition that all the requirements known as terms and conditions are met. Evidence of goods delivered by the seller should be in the form of documents defined in the agreements. The buyer’s bank communicates and deals directly 24 Alejandro Jara and Patrick Low, et. al., World Trade Report 2011. World Trade Organization. p. 24. with the seller’s bank. A credit line is assured by the banks prior to release of goods from the seller. Payments are actually made only after documents are received by the buyer’s bank. Therefore documents such as Letters of Credit are very important for international transactions. Documentary credits may be standard or special depending on what will meet th e needs of the transacting parties—buyer, seller, bank of the buyer, and bank of the seller. â€Å"Standard documentary credits can be either revocable (may be cancelled by the buyer), or irrevocable†¦confirmed (a second bank, in addition to the buyer’s bank, guarantees payment) or unconfirmed (payment guaranteed only by the issuing bank).†17 Protection by documentary credits does not include an assurance that the goods are shipped according to understanding. Disagreements can result out of dissatisfaction. Complaints may arise. But the buyer and seller would have to settle the problem on their own. Banks base their decisions on just the documents and the terms and conditions therein. Those documents identify four parties, namely, â€Å"applicant, beneficiary, issuing bank, and advising bank† although in the business community, they are known as the â€Å"buyer, seller, buyer’s bank and seller’s bank†.18 The International Chamber of Commerce had already prepared the Uniform Customs and 17 Edward G. Hinkelman, A Short Course in International Payments: How to Use Letters of Credit, D/P and D/A, Prepayment, Credit, and Cyber Payments in International Transactions. California, USA, World Trade Press, 2003, p. 50. 18 Hinkelman, A Short Course in International Payments: How to Use Letters of Credit, D/P and D/A, Prepayment, Credit, and Cyber Payments in International Transactions. p. 52. Practice (UCP) for Documentary Credits. The UCP recognizes that there are different types of documentary credits, namely, Standby Credits, Revolving Credits, Transferrable Credits, back-to-back credits, revocable and irrevocable, confirmed and unconfirmed. And the definition of documentary credits according to UCP is any arrangement, however named or described, whereby a bank (the issuing bank) acting at the request and in accordance with the instructions of a customer (the applicant for the credit) (i) is to make payment to or t o the order of a third party (the beneficiary) or is to pay or accept or negotiate bills of exchange (drafts) drawn by the beneficiary or (ii) authorises another bank to effect such payment, or to pay, accept or negotiate such bills of exchange against stipulated documents, provided that the terms and conditions of the credit are complied with (Art. 2).4 However, Dr. Zsuzsanna Toth identified documentary credi

CORPORATE STRATEGY Essay Example | Topics and Well Written Essays - 2500 words

CORPORATE STRATEGY - Essay Example British American Tobacco aims at leading the industry as the preferred partner of stakeholders qualitatively and seeks volume leadership among the global tobacco competitors qualitatively. It has been keeping its vision of achieving leadership of the global tobacco industry as a milestone for last few years. It has also been putting efforts to maintaining balanced approach to achieve growth, improved productivity and developing to be a winning organization. The company’s leading international brands include Lucky strike, Dunhill, Kent, State Express555, Rothmans, Benson and Hedges, Winfield and John player Gold leaf. It also produces fine cut tobacco, pipe tobacco and fine cigars. The international tobacco industry produces currently about 5.5 trillion cigarettes a year, of which 17 % market share is hold by British American Tobacco. British American Tobacco believes that the application of a consistent strategy would always be helpful to build a sustainable business. Growth, productivity, responsibility and winning organization are the four elements of the corporate strategy of British American Tobacco. The vision of British American Tobacco is to achieve leadership of the global tobacco industry through its strategies for creating shareholder values based on growth, productivity, responsibility and winning organization. It had been consistent in its strategy and as a result it could measure the effectiveness and results of the strategy. During 2003, the efforts to expand British American Tobacco’s market share was obstructed by major competitor’s higher growing marketing spend and other factors. In order to achieve proposed growth, it had to seek for an imaginative way to challenge the status quo in the market. British American Tobacco brought forward a new range of light menthol products, differentiated by menthol taste rather than the usual tar deliveries and hence it could change the market

Existentialism According to Two Philosophers Essay

Existentialism According to Two Philosophers - Essay Example   The reader realizes immediately that what is important about this character is not his actions, so much as his thoughts. Actions - if any - are the result of a decision, a choice. Even when he hands ‘the prisoner’ a glass of tea, or takes a pot of ink from a drawer, Daru does so not as a reflexive action, or one taken automatically or without consideration, but as a deliberately thought-out deed over which he seems to have some control. This is a kind of irony that comes from the pen of Albert Camus, an existentialist (although he denied it) writer whose philosophy was one born of the belief that life offers no clarity or meaning (Camus 1991). He places Daru in a spot, literally and metaphorically. From this place, this man cannot emerge unless it is through a deliberate deed. True, he did not ask Balducci to arrive with the prisoner, yet even in the introduction during the blizzard, Camus injects an atmosphere of anticipation and expectation. He seems to tell the reader that life - even if it does take place in a desert; emotional, philosophical, or otherwise - has a habit of presenting one with predicaments and obligations that require accountability (Camus 1991). Daru, in his dead-end job, had to dole out grain to the families of his students, something over which he seemed to have doubts. He is suddenly given the responsibility of taking an Arab prisoner to the prison at Tinguit: a dilemma which is at once perso nal, official and philosophical. Camus does this to illustrate his concept of inescapability: if you are alive, you will encounter this kind of problem that requires some sort of choice. Not making a choice is not an option that life offers. Even doing nothing is a default choice. In his Myth of Sisyphus, he shows this through the absurdity of life’s meaningless tasks, that are repetitive and devoid of meaning, and gives them to Daru to show there are no escaping life’s quandaries.

How has commercialisation affected professional football since the Essay

How has commercialisation affected professional football since the formation of the premier league and what effect has this had on the average fan - Essay Example d the 1980s witnessed England entering into a rather novice phase marked by lack of commercial enterprising on the part of sponsors and top brass of soccer administrators. In fact European football in general followed a downward curve during these two decades (King 59). Several key factors were responsible for this lean period in the history of English soccer. These factors ranged from societal issues to lack of technical adroitness. However, the Premier soccer League teemed with the very best from the global arena and players from all continents signed for various clubs featuring in the League (Storey 108), thus turning English club football into an action-packed display of power and dynamism. The focal point of this paper is going to be the period following the formation of the English Premier League, during which the entire skeleton of English soccer underwent a drastic change in terms of growing commercialisation and corporate professionalism. The paper will also discuss the relative position of British soccer in the larger framework of world football in the last two decades. The charm of English soccer ebbed away following the series of poor performances by the national soccer team in FIFA World Cups after their historic win over West Germany in the 1966 version of the premier title. It was imperative for the administrators and players alike to bring people back to where they could relate themselves to. However, due to a pervasive sense of hopelessness prevailing among the average followers of the sport, the task was not an easy one. Moreover, hooliganism was on the rise in the 1980s both on English soil and outside (Dunning and Malcolm 101). In fact English football had earned a notorious distinction of promoting hooliganism across Europe and other soccer playing countries (Bloom and Willard 306). Political reasons also came into contention in this regard as some of the earlier events in the annals of world history were believed to have contributed to the

The Organizations Restructuring Programs and HRD Practices Research Paper

The Organizations Restructuring Programs and HRD Practices - Research Paper Example This study basically draws on the HRD policy based convergence/divergence parameters of the organization for the continuous analysis for proper articulation of the HRD strategy at a broader level through its theoretical underpinnings are based on the need to focus attention on the evolving environment of competition. HRD policies and initiatives have received greater attention in the current period due to highly articulate employee skills training and development strategies at the individual firm level. Thus the theoretical and empirical analysis of this paper is based on the available literature on the subject at a global level along with an analysis based on the business organizations’ own HRD practices. In other words, an HRD policy and initiative based analysis is a near approximation of an otherwise intractable continuum which lacks definable contours and a logical conceptual framework of reference. While theoretical constructs underlying this approach have been presented as a uniform analysis there is very little attention being focused on the qualitative paradigm shift caused by the a priori and a posteriori catalytic changes. Thus the qualitative shift in this study is essentially based on these outcomes and the latest calibrations and/or benchmarks enunciated by researchers to establish a conceptual framework for analysis. This paper just focuses on the latest HRD related practices and theoretical evolutionary process with reference to the global level. HRD function as against HRM is much facilitated when the scale of operations expands beyond a certain minimum level.

The Verity of Fear and Pain Essay Example | Topics and Well Written Essays - 1250 words

The Verity of Fear and Pain - Essay Example He believed that his time in Auschwitz was a part of life, albeit one that he needed to put behind him. The author makes a valiant effort to look at a torture victim through the eyes of a person who is perpetrating the torture. He finds that there is nothing else there other than an all-consuming urge to subjugate a fellow human being completely, taking control of the very life force of another. The line that is to be analyzed is: "But in addition they tortured with the good conscience of depravity" (Amery, 1980). This is a clear indication of the fact that the captors were self-righteous about their acts of torture and had no doubts in their minds that they were completely in line with the tenets of Fascism - unfortunately, something that they were extremely proud of. Jean Amery being a member of a partisan anti-Gestapo group was a prime catch for Hitler's men. He was found with incriminating evidence that left no doubt in the minds of the captors about his political affinities. When he was finally brought to Breedonk, Amery had absolutely no illusions about what the Gestapo could do - but then, nothing really prepares you for the actual act of torture. It was at Breedonk that he actually understood the meaning of the word torture, which originated from the French word: torquere, which means 'to twist'. Left hanging by his captors, his arms dislocated, he lost all sense of reality, the pain that he felt could not be described at all. It was indeed quite difficult to quantify the level of pain that he felt at the hands of his torturers. The psyche of a torturer: To begin with, there is no marked difference in the behavior exhibited by a Nazi torturer and another of any other organization. The psychological changes that occur in the minds of a torturer are impacted by various factors. Primarily, it is the belief he has in the cause that he is either fighting for or believes in. When there is no doubt at all in his mind that his cause is a noble one he believes that anybody who does not share his views needs to be brought around to his way of thinking, preferably by force. A study done by American psychologist Philip G. Zimbardo reveals how people who are otherwise of fairly good and peaceable nature can turn violent, dominating and oppressive, when playing the roles of a subjugator. The study conducted at Stanford University had two groups of people who were called upon to play two roles - guards and prisoners. It was found that the 'guards' when dressed as guards - that is de-individuated - behaved in an excessively brutal manner (Zimbardo e t al, 1973). A number of other studies support these general findings - that anonymity allows an increase in aggressive antisocial behavior. These people are completely convinced that their role as oppressor is one that has to be played out with perfection, merely because it is what is expected of them at that particular point in time. They are unable to even think of the consequences or the sufferings that need to be endured by their victims. There is almost a missionary zeal in their performances as torturers as they cease to believe in the wrongness of the acts that they choose to commit. In the case of Amery's torture, they feel justified in their act mainly because they have apprehended a person who has political leanings that are totally out of sync with theirs. There is no doubt

Geo-Political and Economic Organization of Asean Essay Example for Free

Geo-Political and Economic Organization of Asean Essay The Association of Southeast Asian Nations is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. Its aims include accelerating economic growth, social progress, and cultural development among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully. ASEAN has emphasized regional cooperation in the â€Å"three pillars†, which are security, sociocultural integration, and economic integration. The regional grouping has made the most progress in economic integration by creating an ASEAN Economic Community (AEC) by 2015. AEC envisages the following key characteristics: (a) a single market and production base, (b) a highly competitive economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global economy. The implementation of AEC is able to boost economic returns of countries in ASEAN due to cooperative and collaborative as a group could have generated a larger overall pool of benefits to be distributed among than countries than each will ultimately achieve by working on its own. But nevertheless in my opinion, Thailand will be of great concerns to many businesses in the region when AEC is established. Thailand possess in an advantageous geographical position which is located at the strategic center position in ASEAN, foreign companies be obliged to set up a solid foundation for the base material storage and product distribution to export their products to the countries in ASEAN if they are intend to establish market in ASEAN. Other than that, open economy policy of Thailand is closely integrated in the AEC blueprint. Thus it can be seen, Thailand’s markets will be benefit most among the countries in ASEAN when it come into effect in 2015. According to a news report on Thailand newspaper World Journal, also known as Chinese Daily News, a sense of urgency is palpable in enterprises all type and in virtually every industry in Thailand since AEC will be organize soon. A number of listed companies adjusting corporate business strategies and formulating an aggressiveness marketing program are being stepped up without cease in order to meet the new challenges and opportunities that will be  occur after two or three years. Managing director of TICON (Ticon Industrial Connection Public Company Limited), Mr. Virapan Pulges indicated that TICON had already the corporate strategies to cope with the regional economic integration by 2015, focus on the greatly increasing future demand of distribution center and warehouses facilities in Thailand. The Chief Executive Officer of CMO (Creative Management Organization), Sermkhun Kunawong revealed that convention and exhibition industries will be enormously benefit from the establish of AEC because the convention and exhibition industries in Thailand are occupied leading level among ASEAN countries. CMO planned to gain further insight into related convention and exhibition industries regulation of other countries in Asian in order to seek business opportunities and establish close contact with logistic industries in Asian countries. Chairman of the board of DRT (Diamond Roofing Tiles Public Company Limited), Prakit Prathipasen mentioned that his company always maintains their products export to Vietnam and Cambodia, but they will expand their export markets to Malaysia and Indonesia from now on, they planned to set up a warehousing distribution center at Changwat Surat Thani, Thailand to aiming at above markets. The presidents of MFEC (MFEC Public Company Limited), Siriwat Vongjarukorn stated that Information and Technology industries will benefit from establish of AEC. The implementation of open and liberal investment policies and actively encourage inward investment will extremely intensify markets competitive in ASEAN. Company must pay close attention in adjusting corporate strategies, increasing competitive advantages and implement performance evaluation on a more concrete form, herein attract the investment that is in favor of the Information and Technology industries. His company has long been prepared for the establishment of AEC through service integration with various companies to increase competitive advantages and the advantage of fully satisfies known customers’ demand. The new report above let us know about that how the leaders of companies in Thailand deal with the change. Four of them accept the inevitability of change and recognize changes as potential of sources of energy and self-renewal, they develop effective management skills that help organization move towards something better. They shared a common vision of  responsibilities and economy opportunities for their companies and countries, an idolized goal has been created by them to seize the opportunities for expand their markets and try to maximized their benefits from the establishment of AEC. That is every appearance that we can almost certain they possess Charismatic Leadership- they have a vision, they are willing to take personal risks to achieve that vision, they are sensitive to follower needs, and they exhibit behavior that are out of the ordinary. The Key characteristics of charismatic leadership that they possess are: 1. Vision and articulation- They has the clear visions that proposes a future better than the status quo and is able to clarify the importance of the vision in terms that are understandable to others. They planned and implementing the new corporate strategies to meet the establishment of AEC by 2015 and they has a good idea how the strategies can benefit their companies and countries. 2. Personal risk- They willing to take on high personal risk, incur high costs, and engage in self-sacrifice to achieve the vision. According to their narrations, their new corporate strategies involve high costs to build large infrastructure facilities within or outside their country for large scale productions, they has to take on the responsibilities and possibilities of failure at their own risk. 3. Sensitivity to follower needs- They are perceptive of others’ abilities and responsive to their needs and feelings. Due to their company involve in large scale capitals and productions, they must appoint some qualified person to important positions. 4. Unconventional behavior- They engage in behaviors that are perceived as novel and counter to norms. They being as successful leaders will never assumed that if they could just keep things running on a steady without changing and vision, their companies would be successful. AEC is an international collaboration project among ASEAN countries, good workers or followers will be an essential part if the companies endeavor to obtain benefits and advantages from the project. Followers of charismatic leaders have higher task performance, task performance, and adjustment to the leader and to the group than did followers who worked under groups led by noncharismatic leaders. There are four-step process shows that how do  charismatic leaders influence followers. 1. Articulate a vision- It begins by the leader articulating an appealing vision. A vision is a long-term strategy for how to attain a goal or goals. The vision provides a sense of continuity for followers by linking the present with a better future for the organization. The leaders share their vision with followers about the steps to attain goals in future through AEC by 2015. 2. Create a vision statement- A vision is incomplete unless it has an accompanying vision statement. A vision statement is a formal articulation of an organization’s vision or mission. Charismatic leader may use vision statement to imprint on followers an overarching goal and purpose. Once a vision and vision statement are established, the leader then communicates high performance expectations and expresses confidence that followers can attain them. This enhances follower self-esteem and self-confidence. Leaders create framework for all their strategic planning that will apply to entity companies to meet the goals. 3. Create a new set of values- The leader conveys a new set of values and through words and actions by his or her behavior, set an example to followers to imitate. Charismatic leaders were more effective because their employees personally identified with the leaders. Finally, the charismatic leader engages in emotion-inducing and often unconventional behavior to demonstrate courage and convictions about the vision. There is an emotional contagion in charismatic leadership whereby followers â€Å"catch† the emotions their leader is conveying. As I have mentioned at above, AEC is an international collaboration project among ASEAN countries, so leaders should create a new values that can apply to ASEAN countries instead of old values that are relate only with a country. 4. Demonstrate the vision- Because the vision is such a critical component of charismatic leadership, we should clarify exactly what we mean by the term, identify specific qualities of an effective vision, and offer some examples. Leaders implement the visions with their followers to achieve the goals. According to the other news report of Thailand newspaper World Journal, Department of Foreign Trade, Ministry of Commerce held a round table meeting with regard to tourism recently, discussed the opportunities and development  in tourist industry after Thailand join AEC by 2015. The round table meeting invited the Ministry of Tourism and Sport, relevant departments and travel agencies to participate in discussion. Head of Foreign Trade Department indicate that the integration of ASEAN will mainly reflect the effect in investment and mobility of human resource after the establishment of AEC. By that time, Thailand will see further competitive in tourism markets from other ASEAN countries. Therefore, Thailand is critical to maintain and increase its own competitiveness to adapt to the markets and create great development progress. After the discussion in round table meeting, the methods were considered as effectiveness in increasing competitiveness of tourist industries of Thailand included: 1. Unify the standardization of tourism service, adopt international standard progressively to guild and measure. 2. Train employees with systematically, instill professional knowledge to them and also let them learn to master foreign language. 3. Formulate trade standard, avoid price war break out. 4. Establish good relationship with other ASEAN countries. 5. Create stricter law and legislation, crack down on illegal activities related to tourist industries. Moreover, the round table meeting believed that short term and long term plans should be formulate to guide travel agencies solve their problems in order to accelerated development and faces the competitive from ASIAN countries positively. We can address the foregoing changes of Ministry of Commerce, Thailand as an international and goal-oriented activity, we can also described the scenario as planned change. Essentially there are two goals in planned change. First, it seeks to improve the ability of the organization or industry to adapt to changes in its environment. Second, it seeks to change employee behavior. If an organization or industry is to survive, it must respond to changes in its environment. When competitors introduce new products or services, government agencies enact new laws, important sources of supplies go out of business,  or similar environmental changes take place, the organization or industry needs to adapt. Efforts to stimulate innovation, empower employees, and introduce work teams are examples of planned-change activities directed at responding to changes in the environment. Because an organization or industrys success or failure is essentially due to the things that its employees do or fail to do, planned change also is concerned with changing the behavior of individuals and groups within the organization. In the above case, Ministry of commerce improves the competitiveness and abilities of tourist industries in Thailand and train employees to improve their qualities to face the changes brought by AEC, like the increase of competitors are fully consistent with planned change. Change agents are responsible for managing change activities, change agents can be managers or nonmanagers, current employees of an organization, newly hired employees, or outside consultants, but the Ministry of Commerce, travel agencies and employees of tourist industries are the change agents in this case. However, when people are confronted with change, resistance to change appears to be natural and positive state. One of the well-documented findings from studies of individual and organizational behavior is that organizations and their members resist change. One recent study showed that even when employees are shown data that they need to change, they latch onto whatever data they can find that suggests they are alright and dont need to change. Our egos are fragile, and we often see change as threatening. In order to avoid continue walking in the old steps and seclude oneself, seven tactics have been suggested for use by change agents in dealing with resistance to change: 1. Education and Communication- Resistance can be reduced through communicating with employees to help them see the logic of a change. Communication can reduce resistance on two levels. First, it fights the effects of misinformation and poor communication. Second, communication can be helpful in â€Å"selling† the need for change. The changes are most effective if Minister of Commerce communicate its rationale balancing various participants’ interest versus a rationale based on minister or heads of  department’s interest only. 2. Participation- Its difficult for individuals to resist a change decision in which they participated. Prior to making a change, those opposed can be brought into the decision process. Assuming that the participants have the expertise to make a meaningful contribution, their involvement can reduce resistance, obtain commitment, and increase the quality of the change decision. Therefore, Minister of Commerce should invite participations f rom various industries that are related to tourist industries to increase the success rate of changes. 3. Building Support and Commitment- Change agents can offer a range of supportive efforts to reduce resistance. When employees fear and anxiety are high, employee counseling and therapy, new-skills training, or a short paid leave or absence may facilitate adjustment. Research on middle managers has shown that when managers or employees have low emotional commitment to change, they favor the status quo and resist it. So firing up employees can also help them emotionally commit to the change rather than embrace the status quo. Minister of Commerce should fully support all of the participants by effort and money due to they are same sided and share same purposes to benefit their countries and industries. 4. Implementing Changes Fairly- Try as managers might to have employees see change positively, most workers tend to react negatively. Most people simply dont like change. But one way organizations can minimize the negative impact of change, even when employees frame it as a negative, is to makes sure the change is implemented fairly. Procedural fairness becomes especially important when employees perceive an outcome as negative, so when implementing changes, its crucial that organizations bend over backwards to make sure employees see the reason for the change, and perceive that the changes are being implemented consistently and fairly. Technical support and financial support allocate by Minister of Commerce to participants must be absolutely fair and free of discrimination or bias. 5. Manipulation and Cooptation- Manipulation refers to covert influence attempts. Twisting and distorting facts to make them appear more attractive, withholding undesirable information, and creating false rumors to get employees to accept a change are all examples of manipulation. Cooptation, on the other hand, is a form of both manipulation and participation. It seeks to â€Å"buy off† the leaders of a resistance group by giving them a key role in the  change decision. The leaders’ advice is sought, not to seek a better decision, but to get their endorsement. Ministry of Commerce can conceal the fact that will be against by participants in order to cooperative production. This method is not recommended to change agents unless there are left with no choice, because the tactics can backfire if the targets become aware they are being trick or used. 6. Selecting People Who Accept Change- Research suggests that the ability to easily accept and adapt to change is related to personality. It appears that people who adjust best to change are those who are open to experience, take a positive attitude toward change, are willing to take risks, and are flexible in their behavior. Ministry of Commerce should select participants who are positive self-concept and high risk tolerance because they are coped better with change. 7. Coercion- Coercion is the application of direct threats or force on the resisters. The examples of coercion are threats of transfer, loss of promotions, negative performance evaluations, and a poor letter of recommendation. This method can use to be directed against participants who are not follow instructions or rules that made by Ministry of Commerce. No discussion of resistance to change would be complete without a brief mention of the politics of change because change invariably threaten and the status quo, it inherently implies political activity. In the frame of ASEAN Economic Community, enterprises need to the notion of operation and management to get the best of the achievement of free flow system from essential productive factors. Companies should convert to from the operation strategies that confines only to domestic markets transnational operation though establish relationship with business partners in the area of ASEAN. The most important thing is to put the pressure on formulate a new business planning for strives to adapt the changes and committed to the new business opportunities. The establishment of AEC is expected to create bigger markets for products of Thailand, at the same time, companies of Thailand should examine themselves if they are brace to become a member of AEC while speed up with enhance comprehensive strength. Most of the ASEAN countries are not fully prepare to meet AEC, there are still some disadvantages in various directions for Thailand, especially the  political situation of Thailand not showing any specific development route, some corporation are still lack of related knowledge result in not fully prepare of relevant plans. For this purpose, Thailand should make full use of advantages and rational utilization of resources to increase competitiveness to differentiates their superiority with other ASEAN countries for the in coming of establishment of AEC by 2015. References Aseansec.org (2007) ASEANWEB ASEAN Economic Community. [online] Available at: http://www.aseansec.org/18757.htm [Accessed: 1 Oct 2012]. Chinaasean.org (2005) Ministry of Commerce of Thailand Appeal Tourist Industries to Increase Competitiveness. [online] Available at: http://www.chinaasean.org/html/report/1259802-1.htm [Accessed: 1 Oct 2012]. En.wikipedia.org (1967) Association of Southeast Asian Nations Wikipedia, the free encyclopedia. [online] Available at: http://en.wikipedia.org/wiki/ASEAN#From_CEPT_to_AEC [Accessed: 1 Oct 2012]. ROBBINS, S. and JUDGE, T. (2010) Organizational Behavior. 13th ed. Prentice Hall, p.447-450,654-659. News.sina.com.tw (1996) Thailand Listed Company Adjust Strategies to Meet AEC [online] Available at: http://news.sina.com.tw/article/20120626/7156145.html [Accessed: 1 Oct 2012].

Cyber Security Essay Example for Free

Cyber Security Essay President Obama has declared that the â€Å"cyber threat is one of the most serious economic and national security challenges we face as a nation†¦ Americas economic prosperity in the 21st century will depend on cyber security.† So why is it that so many people still don’t know some of the basic ways that produce cyber threats? The purpose of this paper is to name some of the more basic cyber threats. Even though it is just the beginning to the hazards you can obtain, they are highly effective because of the number of people that still allow these kinds of breaches. First and foremost are viruses. According to cknow.com, â€Å"There were over 50,000 computer viruses in 2000 and that number was then and still is growing rapidly. Sophos, in a print ad in June 2005 claims over 103,000 viruses. And, Symantec, in April 2008 is reported to have claimed the number is over one million.† With so many different viruses out there, how do you know what to look for and how to protect your cyber world from viruses? Some of the most common viruses that effect people are Trojans and Net Bots. PCmag.com defines a Trojan as â€Å"A program that appears legitimate, but performs some illicit activity when it is run. It may be used to locate password information or make the system more vulnerable to future entry or simply destroy programs or data on the hard disk. A Trojan is similar to a virus, except that it does not replicate itself. It stays in the computer doing its damage or allowing somebody from a remote site to take control of the computer. Trojans often sneak in attached to a free game or other utility.† To add to their definition, it can also be affixed to an email attachment or the email itself. So now that you know what it is you’re probably thinking so what can I do to protect myself from obtaining this virus? The best thing to do would be to educate yourself about this threat. Know what they look like and common websites they reside. The next thing that to do is to be sure to always have an up to date WELL KNOWN antivirus such as Sophos, McAfee, or Norton. The well known part is very important because some of the smaller antivirus companies are part of the reason there are so many Trojans out there. Once you get some antivirus software you need to be sure to keep it up to date. Also, don’t open emails from senders that you don’t recognize. Several of the Trojans out there that get circulated by email come from people opening emails from unknown senders. The next one is botnets. http://searchsecurity.techtarget.com says â€Å"A botnet (also known as a zombie army) is a number of Internet computers that, although their owners are unaware of it, have been set up to forward transmissions (including spam or viruses) to other computers on the Internet. Any such computer is referred to as a zombie in effect, a computer robot or bot that serves the wishes of some master spam or virus originator. Most computers compromised in this way are home-based. According to a report from Russian-based Kaspersky Labs, botnets not spam, vir uses, or worms currently pose the biggest threat to the Internet.† Trojans are the major way that you can get one of these viruses. So it is important that you again get antivirus software, keep it up to date, and don’t open emails from unknown senders. However, with this virus you can get it just from going to a questionable web site. So how do you know what ones are good and what ones are questionable? Well that you can for the most part guess using these deciding factors: Are there several java applications on the web page? Is there a lot of download able content? Are there pop up advertisements that come up on the page? Then you probably should do your best to stay away from the page. In case you are unsure, some antivirus software are now including a trusted and untrusted feature so when you search a site it will let you know if the page is safe or proceed at your own risk. If your antivirus does not have such a feature then there are some applications out there that will do the same thing just to name one would be WOT or Web of Trust. The next issue is a little more targeted to the business world. It deals more with their emails and correspondence but can also be directed to an average internet user. It is phishing. Webroot.com expounds â€Å"Email Phishing scams are carried out online by tech-savvy con artists and identity theft criminals. They use spam, fake websites constructed to look identical to a real sites, email and instant messages to trick you into divulging sensitive information, like bank account passwords and credit card numbers. Once you take the phishers bait, they can use the information to create fake accounts in your name, ruin your credit, and steal your money or even your identity.† This is a serious issue that takes some skill to recognize to evade taking the phisher’s bait. First and foremost is to educate yourself on phishing attacks or scams. Know what it looks like. There are many resources that you have available to you on the internet to learn how to spot a phishing attack and a legitimist email. The Department of Defense offers a grea t course on how to spot a phishing email at http://iase.disa.mil/eta/phishing/Phishing/launchPage.htm. A more specific attack is whaling. Blogs.iss.net explains â€Å"The adoption of the term ‘Whaling’ within phishing is fairly new and may have been derived from the use of ‘Whales’ within gambling to refer to big-time gamblers and high rollers, but most likely come from the colloquialism for â€Å"big fish†. Regardless, Whaling describes the most focused type of phishing currently encountered by businesses or government – targeted attacks against groups of high-level executives within a single organization, or executive positions common to multiple organizations (e.g. the CTO or CFO). In a whaling attack, the phisher focuses upon a very small group of senior personnel within an organization and tries to steal their credentials – preferably through the installation of malware that provides back-door functionality and key logging. By focusing upon this small group, the phisher can invest more time in the attack and finely tune his message to achieve the highest likelihood of success. Note that these messages need not be limited to email. Some scams have relied upon regular postage systems to deliver infected media – for example, a CD supposedly containing evaluation software from a known supplier to the CIO, but containing a hidden malware installer.† So if you’re not a high level employee, you’re probably wondering how this is important to you. How phishers go about their scam is by obtaining little bits of what some would consider being harmless information from other employees about level executives and projects going on in the company. They start at the bottom to get more information at the top. So in all actuality it very much concerns everyone in the company. This leads me in to my last but important area of cyber security: insider threat. Frankly, that is you. Every employee is potentially an insider threat. So let me define it a little better with some help from searchsecurity.techtarget.com. â€Å"An insider threat is a malicious hacker (also called a cracker or a black hat) who is an employee or officer of a business, institution, or agency. The term can also apply to an outside person who poses as an employee or officer by obtaining false credentials. The cracker obtains access to the computer systems or networks of the enterprise, and then conducts activities intended to cause harm to the enterprise. Insider threats are often disgruntled employees or ex-employees who believe that the business, institution, or agency has done them wrong and feel justified in gaining revenge. The malicious activity usually occurs in four steps or phases. First, the cracker gains entry to the system or network. Secondly, the cracker investigates the nature of the system or network in order to learn where the vulnerable points are and where the most damage can be caused with the least effort. Thirdly, the cracker sets up a workstation from which the nefarious activity can be conducted. Finally, the actual destructive activity takes place. The damage caused by an insider threat can take many forms, including the introduction of viruses, worms, or Trojan horses; the theft of information or corporate secrets; the theft of money; the corruption or deletion of data; the altering of data to produce inconvenience or false criminal evidence; and the theft of the identities of specific individuals in the ente rprise. Protection against the insider threat involves measures similar to those recommended for Internet users, such as the use of multiple spyware scanning programs, anti-virus programs, firewalls, and a rigorous data backup and archiving routine.† It could also be an employee giving away what you would consider to be harmless information like an email address, a project you are working on at work, how many people you work with, or even where you work and the location of the building. Even with some of the best antivirus software, a stellar knowledge of phishing, and an elite cyber security system, an insider threat can penetrate that because they most the time have the credentials to log it to the system and pull resources ligitimently so it would go unnoticed. So how can you help protect you network or your company’s network from an insider threat? Simply, don’t be one. Always be sure to only give information that the other person is on the same level to receive. Secondly is to educate yourself on insider threat prevention. There is a plethora of resources to do just that. A helpful one is http://www.ussecurityawareness.org/highres/insider-threat.html. Also watch for signs of curious activity with co workers. Report any evidence or suspicions to your supervisor. So in conclusion, prevention starts with you. Buy up to date antivirus software. avoid risky sites, educate yourself on what a phishing attack looks like, know what a legitimate email is, don’t be an insider threat and educate yourself about things to look for from other co workers. Cyber security is a serious threat and is a major issue that needs to be taken seriously. It is not just something for the IT department to worry about but starts with every one making sure to take the appropriate security measures to make the cyber world more secure.