Tag: Role Play and Simulation

The term “Startup” has gained a lot of popularity these days. More and more individuals are interested in becoming entrepreneurs and therefore open their own business. Therefore, there are also more entities interested in helping new businesses.

A startup is a company established by one or more entrepreneurs to create unique and irreplaceable products or services. It aims at bringing innovation and building ideas quickly.

Nature:

Growth

An startup is company whose goal is grow and expand rapidly, taking up to sometimes drastic proportions. This is one of the points that distinguished startup a Small business.

Age

An startup is new company which is still in early stages brand management, sales and hiring employees. Too often the allocation of this concept to Business who have been on the market for less than 3 years, however, this is not true. That is, one company You can have 7 years and is still a startup.

Innovation

A business this type need to have a differentiator competition in order to gain competitive advantage in the market. It is innovation may be present in their products or in the business model associated with company.

Risk

Once a startup It has shed innovative strongly present, there are always several associated uncertainties about ensuring the success of the business. For this reason, these Business are considered risk investments with a high failure rate.

Solving a problem

Associated with your shed innovative, this Type of company focuses on solving any existing problem in the market. So they focus on making a difference not only in the marketplace but also in people’s lives through your product or service.

Flexibility

A startup is very dynamic and ready to adapt to the adversities that may arise. Due to the need for validation of your business idea, these Business need to be ready to tailor their product to meet customer requirements.

Types:

Small business startups. These businesses are created by regular people and are self-funded. They grow at their own pace and usually have a good site but don’t have an app. Grocery stores, hairdressers, bakers, and travel agents are the perfect examples.

Scalable startups. Companies in a tech niche often belong to this group. Since technology companies often have great potential, they can easily access the global market. Tech businesses can receive financial support from investors and grow into international companies. Examples of such startups include Google, Uber, Facebook, and Twitter. These startups hire the best workers and search for investors to boost the development of their ideas and scale.

Lifestyle startups. People who have hobbies and are eager to work on their passion can create a lifestyle startup. They can make a living by doing what they love. We can see a lot of examples of lifestyle startups. Let’s take dancers, for instance. They actively open online dance schools to teach children and adults to dance and earn money this way.

Big business startups. Large companies have a finite lifespan since customers’ preferences, technologies, and competitors change over time. That’s why businesses should be ready to adapt to new conditions. As a result, they design innovative products that can satisfy the needs of modern customers.

Buyable startups. In the technology and software industry, some people design a startup from scratch to sell it to a bigger company later. Giants like Amazon and Uber buy small startups to develop them over time and receive benefits.

Social startups. These startups exist despite the general belief that the main aim of all startups is to earn money. There are still companies designed to do good for other people, and they are called social startups. Examples include charities and non-profit organizations that exist thanks to donations. For instance, Code.org, a non-profit organization, encourages school students in the US to learn computer science.

Sniffing is the process of monitoring and capturing all the packets passing through a given network using sniffing tools. It is a form of “tapping phone wires” and get to know about the conversation. It is also called wiretapping applied to the computer networks.

There is so much possibility that if a set of enterprise switch ports is open, then one of their employees can sniff the whole traffic of the network. Anyone in the same physical location can plug into the network using Ethernet cable or connect wirelessly to that network and sniff the total traffic.

In other words, Sniffing allows you to see all sorts of traffic, both protected and unprotected. In the right conditions and with the right protocols in place, an attacking party may be able to gather information that can be used for further attacks or to cause other issues for the network or system owner.

Types of Sniffing

Sniffing can be either Active or Passive in nature.

Passive Sniffing

In passive sniffing, the traffic is locked but it is not altered in any way. Passive sniffing allows listening only. It works with Hub devices. On a hub device, the traffic is sent to all the ports. In a network that uses hubs to connect systems, all hosts on the network can see the traffic. Therefore, an attacker can easily capture traffic going through.

The good news is that hubs are almost obsolete nowadays. Most modern networks use switches. Hence, passive sniffing is no more effective.

Active Sniffing

In active sniffing, the traffic is not only locked and monitored, but it may also be altered in some way as determined by the attack. Active sniffing is used to sniff a switch-based network. It involves injecting address resolution packets (ARP) into a target network to flood on the switch content addressable memory (CAM) table. CAM keeps track of which host is connected to which port.

Cyber–Vandalism

The term vandalism describes the deliberate act of damaging or destroying another person or company’s property without their permission. For example, with a computer, hardware vandalism is the act of intentionally breaking or destroying computer hardware. For example, a student could purposely damage a laptop given to them by the school.

Vandalism or cyber-vandalism could include any of the following.

• Intentionally damaging or destroying a digital object.
• Post fake reviews.
• Hacking into and defacing a website.
• Giving bad information on a forum or wiki.
• Posting fake news on a social network.
• Cheating or creating bots to cheat in online gaming.
• Post a virus or other malware for others to download unknowingly.

• Retail and Wholesale

E-commerce has a number of applications in retail and wholesale. E-retailing or on-line retailing is the selling of goods from Business-to-Consumer through electronic storesthat are designed using the electronic catalog and shopping cart model. Cybermall is a single Website that offers different products and services at one Internet location. It attracts the customer and the seller into one virtual space through a Web browser.

• Online marketing and purchasing

Data collection about customer behavior, preferences, needs and buying patterns is possible through Web and E-commerce. This helps marketing activities such as price fixation, negotiation, product feature enhancement and relationship with the customer.

• Manufacturing

E-commerce is also used in the supply chain operations of a company. Some companies form an electronic exchange by providing together buy and sell goods, trade market information and run back office information such as inventory control. This speeds up the flow of raw material and finished goods among the members of the business community. Various issues related to the strategic and competitive issues limit the implementation of the business models.

• Finance

Financial companies are using E-commerce to a large extent. Customers can check the balances of their savings and loan accounts, transfer money to their other account and pay their bill through on-line banking or E-banking. Another application of E-commerce is on-line stock trading. Many Websites provide access to news, charts, information about company profile and analyst rating on the stocks.

On-line banking; issues of transaction costs; Accounting and auditing implications where “intangible” assets and human capital must be tangibly valued in an increasingly knowledge based economy.

• E-Banking

Online banking or E- banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, Online banking is also referred as internet banking, e-banking, virtual banking and by other terms.

• Production and Operations Management:

The impact of on-line processing has led to reduced cycle times. It takes seconds to deliver digitized products and services electronically; Similarly, the time for processing orders can be reduced by more than 90 per cent from days to

minutes

• Online Auction

Customer-to-Customer E-commerce is direct selling of goods and services among customers. It also includes electronic auctions that involve bidding. Bidding is a special type of auction that allows prospective buyers to bid for an item.

• Online publishing

Electronic publishing (also referred to as e-publishing or digital publishing) includes the digital publication of e-books, digital magazines, and the development of digital libraries and catalogs.

• Online booking (Ticket, Seat.etc)

An Internet booking engine (IBE) is an application which helps the travel and tourism industry support reservation through the Internet. It helps consumers to book flights, hotels, holiday packages, insurance and other services online. This is a much-needed application for the aviation industry as it has become one of the fastest growing sales channels.

• Human Resource Management:

Issues of on-line recruiting, home working and “intra-pruners” working on a project by project basis replacing permanent employees.

• Business Law and Ethics:

The different legal and ethical issues that have arisen as a result of a global “Virtual” market. Issues are copyright laws, privacy of customer information, and legality of electronic contracts.

Media Convergence simply refers to the merging of different types of mass media such as Traditional Media, Print Media, Broadcast Media, New Media and the Internet as well as portable and highly interactive technologies through digital media platforms. This results in the combination of 3Cs, i.e. Communication, Computing and Content as all three are integrated through technology. The most relevant example of media convergence is a Smartphone that blends together various media, i.e. print media (e-books, news apps), broadcast media (streaming websites, radio, music apps) as well as new media (the internet) into a single device that performs various functions from calling and texting to photography, videography, gaming and so much more.

Advantages:

The content producers can specifically target the best audience or group they are aiming towards by publishing customized content.

The instant availability of news and moment-based content is one of the top advantages of media convergence between traditional media and new media.

With media convergence, the audience has also become the creator themselves. From memes to social media posts, media convergence has truly been beneficial to integrate audience on a global level.

With the media convergence between traditional media and new media, the cost of digital marketing has also become economical thus making this process beneficial and affordable.

Another important benefit of media convergence that it has broadened the limitations of traditional media by blending it with new media, thus providing instant and latest content on an international level.

Types of Media Convergence are:

• Technological Convergence
• Economic Convergence
• Cultural Convergence

Technological Convergence

Technological convergence is a term that describes the layers of abstraction which enables different technologies to interoperate efficiently as a convergent system. It is when new technologies are created and take over from past technologies and perform the same task in a more efficient manner. Technological convergence is the combination of computing, communication, and content around networked digital media platforms.

Economic Convergence

Just like the general definition of Economic convergence which suggests that countries with lower GDPs are going to grow faster than countries with higher GDP, the Economic media convergence allows a single company to target larger interest groups through various kinds of media.

Cultural Convergence

This concept of media convergence occurs when two or more cultures adopt each other’s traits and become more alike. Those  Increasing similarities between cultures are not limited to beliefs of consumer brands and media. Some of the major forms of cultural media convergence are:

• Acculturation: When weaker among two cultures adopt traits from more dominant culture e.g Indians mostly speaking the English language.
• Assimilation: When original traits of weaker culture are completely erased and replaced by traces of more dominant culture e.g war immigrants no longer speak the native language.

3 C’s of Media Convergence

The 3Cs of Media Convergence are Computing, Communications, and Content. Media Convergence unites these 3Cs of Computing, Communications and Content and is an immediate result of digitization and promotion of the Internet. To put it even more simply, the convergence of Content with Communication technologies and Computer Networks is what leads to Media Convergence.

E-payment introduces digital circulation to realize information transmission, so all means of e-payment are digitalized. But, traditional payment is realized through physical circulation such as cash circulation, bill transfer and bank exchange.

The working environment of e-payment is based on an open system platform i.e. internet, while the traditional payment is operated in a relatively closed system.

E-payment has a very high requirement for both hardware and software facilities, generally including online terminals, relevant software and some other supporting facilities, while traditional payment does not have such a high requirement.

E-payment enjoys advantages for it is convenient, fast, efficient and economic. As long as the user has a computer connecting to the internet, he will be able to stay indoors and complete the whole payment within a very short time. The cost is even less than one per cent of that of the traditional way.

i) Where amount is lent in one installment

Procedure for calculation of Average Due Date when lending in lump sum but repayment in installments, is as follows:

1. The basic day is the lending date. Calculate the number of days (or months or years) from the date of lending to the date of each payment.
2. Find out the total number of days/months/years as calculated above.
3. Divide the total as calculated by number of installments to repay the loan.
4. Add the result (obtained above) to the date of loan to get Average Due Date.

Average due Date = Date of Loan + [Total number of days/months/years calculated from the date of loan to the repayment of installments / installments]

ii) Where amount is lent in various installments

1. Take any convenient date (preferably the first due date) as the Starting Point or Zero Date or Start Date or Focal Date or Base Date.
2. Count the number of days of each transaction from the base date.
3. Multiply the amount of each transaction with the number of days thus calculated.
4. Add all the products so obtained.
5. Add the amount of all transactions.
6. Divide the total products by total amount (of all items)
7. The result of is the number of days by which average due date is away from the Base Date

iii) Taking Grace Days into account

iv) Calculation of Due Date few months after date / Sight.

Average Due Date is the date on which several debts due on different dates can be paid by a single payment without any loss of interest either to debtor or creditor. Average Due Date or Equated Due Date is the arithmetic average of several due dates.

When a person owes various amounts on different dates to another person, it may be desired to discharge the debts on a single date by a lump sum payment without any loss of interest to either party.

Such an equated date of payment is called the Average Due Date. The application of the average due date comes into use in settlement of accounts, such as, Bill transactions, payment of credit transactions, calculation of interest on drawings by part­ners etc.

The concept of Average due date (ADD) is generally used in the following situations:

• For settling accounts between principle and agent.
• Calculating interest on drawings of partners.
• For settling contra accounts e.g. where parties sell goods to each other.
• Making lump sum payment against various bills drawn on different dates with different due dates.

Average due Date = Base date ± [Total of the products / Total of the amounts]

Points to Remember for Calculation:

• Base date/ zero date may be taken as the due date of the first transaction or the due date of the last transaction or any other due date between the first and the last but preferably an earlier due date may be taken.
• While calculating the number of days always ignore the first day and include the last day.
• If the due date is in the fraction, round it off.
• If the amount is paid before the due date, a rebate is given. While, where the amount is paid after the due date, then interest will be charged.
• Due date: Due date means the date on which the amount becomes payable.
• Maturity date: Always calculate the Maturity date after taking into consideration three days of Grace. Calculation of Due Date when there is a Holiday on maturity day, due date is the next preceding working or business day.

Uses

• The settlement of accounts by a series of bills of exchange due on different dates.
• Problems relating to the calculation of interest on drawings by partners, on different dates.
• The settlement of accounts between one trader and another or a trader and his customers.

i) Interest table

This method is also known as Individual Method. According to this method, we arrange all the transactions in the form of a ledger account. There are two more columns on both the sides of the account. One column represents the number of days counted from the due date of each transaction to the date of rendering the account. In the absence of the due date of payment, we assume the date of the transactions to be the due date. While the other column represents interest.

With the help of these tables, calculate the interest due on different amounts at given rates for different periods of time and enter it against each item. Total the interest columns of both sides. The difference is the balance.

ii) By Means of Product.

This method is also known as the Product Method. In this method, the way of preparing the Account Current is the same. Only the method of calculating interest is different.

In the previous method, we prepare interest column on both the sides of the Account Current and take interest in respect of each item from the interest tables. In this method, in place of the interest columns, we prepare “product” columns.

The product, in this case, is the amount multiplied with the number of days for which it has been outstanding.  In other words, with a view to converting the period of each transaction to one day, we multiply the amount by the number of days. Thus, we enter the resultant product against each transaction of the product column. The remaining steps are given as follows:

• Find out the balance of the products on both sides.
• Calculate interest at the prescribed rate on the balance of the products for a single day.
• Enter interest on that side in the amount column on which the balance of products appears.

Method of Computing the numbers of Days

Generally, we use the following two methods for calculating the number of days:

Backward ( Epoque Method):  In this method, the number of the days are calculated from the opening date of account to the due date of the transaction.

Forward Method: In this method, the number of days is calculated from the due date of the transaction to the date of closing the account.

Red–Ink Interest: If the due date of a bill is after the date of closing the account, then we charge no interest for that. However, we write the interest from the date of closing to the due date in “Red-Ink” in the relevant side of the ‘Account current’. This interest is known as Red-Ink interest. Thus, we always treat Red-ink interest as negative interest.