The Feasibility of a Multinational Manufacturing Organization Assignment - 1

The Feasibility of a Multinational Manufacturing Organization - Assignment Example The current information (if any) is not up-to-date and thus there is the need for such information to be updated on a regular as businesses operate in a dynamic environment which is influenced by factors which include changes in technology in the production of new products and production processes in addition to changes in customer tastes and preferences (Argyrous 2005). Further, when competitor products change, there is also the need to change. Change in economic conditions is also a very important aspect which calls for new methods of production and new products. Such information helps the organization in gaining a deeper understanding of consumer needs and preferences and thus reducing the risk of product failure. Also, such information assists the organization in coming up with future forecasts and trends which are beneficial (Saunders and Thornhill 2003). This market research study will employ the use of 1000 participants. The findings from the respondents will help the organization to develop strategies which will be based on factual data and which will assist in influencing decisions, justifying actions and providing deeper explanations on why certain decisions have been made. The market study will, thus, aim at putting together information and supporting data aimed at; Analyzing market segments which will again assist in the selection of target markets, identification of potential customers and those that plan to consume the proposed products and why they have been using them; Gaining a deeper understanding of the promotion methods used and which target and appeal the perceived market segment. The level of education is very important since the readership of the various print media if key as it will determine the level of promotion and the most appealing promotion methods; Analyzing marketing performance to assist in determining whether customer expectations in terms of service are being met and whether the quality and the aesthetic appeal of the products is realistic.

Estimating the Ebola Epidemic by Kai Kupferschmidt Case Study - 81

Estimating the Ebola Epidemic by Kai Kupferschmidt - Case Study Example Because of this, society should be open to multiple points of view and cultures, that is, have the characteristics of pluralism and multiculturalism.   Medicine has no boundaries, but people build them and then break them every day. The Ebola disease is a very acute problem of the last half of a year. Scientists and doctors create computer models to predict the countries which may next fall the victims to Ebola. Its rapid spread is a result of: â€Å"the modelers are hampered by the paucity of data on the current outbreak and lack of knowledge about how Ebola spreads." (Kupferschmidt 2014). But it is not only the problem of scientists but only of the governments.   So here we can say that the theory of a flexible political system and pluralism within the country, brought to life, could have been much more useful than creating models. If all the countries were able to cooperate in spite of the political/cultural and other disagreements the vaccine could have been found many years ago. The World’s Contest between the countries slows down their ability to cooperate. And one thing more, Popper was also a proponent of critical rationalism, the main ideas of which are based on the fact that: â€Å"the knowledge must be as objective as possible and doesn't depend on the judgment of individuals or groups† (Popper 1966) So, we can make an inference that if the modern scientists were more critical when studying some problems they may get better results. In the case of Ebola disease, here we can say that critical and much broader view on this case could help.   So, in conclusion, I would like to point out, that the problem of Ebola disease may be eliminated much earlier if the humanity would have accepted the point of view of K. Popper; medicine could develop quicker and better; the countries interrelations on the field of science would be better.

Analysis Of The Reason Why Destinations Brand Themselves Marketing Essay

Analysis Of The Reason Why Destinations Brand Themselves Marketing Essay As travel and tourism is one of the biggest global industries, the competition all over the world is enormous (World Travel Tourism Council, 2007). Therefore one of the most important things for a destination and moreover a key task for destination marketers, mainly due to the already mentioned global competition, is the process of branding a certain destination. The marketers have to be aware that there are many other destinations that try to attract the potential tourists and visitors as well. Consequently branding is essential and very important for a destination to show what it has to offer through the use of words and symbols for instance. A brand can have many different forms. It can for example be a logo, a symbol, a trademark or a name. Furthermore branding is not a new idea, even when, according to Gilmore (2001; as cited in Morgan et al. 2002: 57), many people tend to think of it as something new. But it is not a new phenomenon; branding already exists for years. Gilmore argues that many of the brands we use today have been in existence for over 100 years (Morgan et al., 2002: 57). This statement shows that branding products, which are in the case of this essay destinations, has been existing for a very long time and still has a huge significance all over the world. The aim of this essay is to critically assess the reason why destinations brand themselves. In addition it contains general information about branding like definitions, what branding is about and why rebranding in particular cases is necessary. The outcome is a conclusion and recommendations for branding destinations in the future. Before explaining the necessity of branding it is important to have a look at several definitions of this term due to many different ones existing. Kolb (2006: 229) for example defines branding as the use of words and symbol to represent the image of a product and the benefits it offers to consumers. Furthermore he adds that branding is about the promotion of the unique benefits that tourists will experience during their visit (Kolb, 2006: 18). According to The American Marketing Association (as cited in Tasci and Kozak, 2006: 300) a brand is defined as a name, term, sign, symbol or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. This definition adds the differentiation from other products and it goes along with Milligan (1995; as cited in Tasci and Kozak, 2006) who expresses the importance of differentiating one brand from others as well. He argues that a brand is wha t differentiates you and makes you special. Besides along with Morgan et al. (2002: 11) branding is perhaps the most powerful marketing weapon available to contemporary destination marketers confronted by increasing product parity, substitutability and competition. But is the branding process of products the same as for destinations? Or is there a difference between branding normal products and destinations? According to Caldwell and Freire (2004: 50) many academics (e.g. Cai, 2002; Kotler and Gertner, 2002; Olins 2002) argue that places can be branded in much the same way as consumer goods and services. And also along with Pike (2005; as cited in Balakrishnan 2009: 613) destination brands are also similar to product and services. They have both tangible and intangible components, are mostly service dependent, and can be positioned through the use of slogans. But besides these arguments there are also some academics that see a difference between the branding process of normal products and destinations. According to Karavatsis and Ashworth (2005; as cited in Hankinson 2009: 98) the branding of places as destinations requires more complex managerial activities than product brands. Furthermore along with Hankinson (2001; as cited in Murphy et al., 2007) creating brands as defined and discussed in the traditional marketing literature is a more difficult and complex process when considering d estinations and locations. These findings of different academics show that some consider the branding process of destinations as more challenging than branding products in general. Therefore the author of this essay thinks that it is necessary to define destination branding separate to the branding process of normal products in general. Along with Cai (2002; as cited in Murphy et al., 2007: 5) a destination brand is defined as perceptions about a place as reflected by the associations held in tourist memory. Furthermore Morrison and Anderson (2002: 16) describe destination branding as a process used to develop a unique identity and personality that is different from all competitive destinations. According to many academics (e.g. Eby, Molnar and Cai 1999; Gartner 1989; as cited in Hem and Iversen, 2004: 85) unlike other tangible products, tourists are not able to test drive and try the destinations before making a choice. When deciding to go on holiday you pay for something that you will not receive at once. Furthermore Hem and Iversen (2004: 85) argue that the decision involves greater risk and extensive information search, and depends on tourists mental construct of what a potential destination has to offer relative to their needs. A very important question when branding destinations is how long the brand can be used? According to Kotler (1997; as cited in Tasci and Kozak, 2006: 300) the seller or maker of a brand [à ¢Ã¢â€š ¬Ã‚ ¦] is entitled to exclusive rights to use the brand without any expiration dates, which distinguishes it from patents and copyrights. Therefore destination marketers are able to use a brand endlessly. This is a great advantage because when a well-working brand is created it can be used as long as the marketers wish to. There are many destinations that do it this way but there are also some who change their brand from time to time. This change of the brand has to be done when a brand does not attract enough people to visit a certain destination. But more significant than having a look at what branding is, is to clarify why is it necessary for destinations to brand themselves? It is important that a brand shows real benefits in order to be effective (Kolb, 2006). These benefits include that the brand is understood easily, memorable, and it has to be designed in a way that it can be used on every form of communication (Kolb, 2006: 222). Furthermore Kolb (2006: 222) argues that it is very important that the potential tourist understands the brand symbol and message easily because if they are confused by the words and image communicated, the branding may be noticed but will not attract them. Therefore it is necessary to know the target group before creating a brand because if the consumer does not understand the message of the brand he or she will not be interested in it and furthermore not be attracted by the destination. According to Kolb (2006: 229) branding provides a shorthand message that will hopefully be heard by the potential tourists and visitors over all the other destinations. That means that the brand of one destination needs to be created very well and moreover it has to be more attractive than other brands. Besides this Gilmore (2001) argues that branding seeks to convey messages to the user or potential user of a product or service. These messages need to be simple and consistent, since we are all bombarded with messages from hundreds of products every day (as cited in Morgan et al., 2002: 58). Kolb and Gilmore both argue that it is important to create brands that are easily understood by the potential tourists or visitors of a destination. The author of this essay fully agrees to both of them because if a brand is not understood by first glance or is not attractive enough that the consumer has a deeper look at it to understand what it is about, than all the effort to create the brand w as not really worth it. When a brand is created it is necessary that the destination marketers use it to communicate it to the potential tourists and visitors. According to Kolb (2006: 229) the brand should appear on all forms of communication like letters, flyers, the websites, brochures as well as T-shirts. Besides those facts concerning the design of a brand, it is according to Kolb (2006: 221) important that tourism marketers choose an identity that authentically and genuinely reflects what the city has to offer. The different forms of communication and the well-chosen reflection of the offers show only some of the challenging points branding has to deal with in the various steps the brand has to pass through during the process of creating it. According to Kolb (2006: 229) developing a brand takes time, effort, and creativity. Besides these mentioned facts branding is also very expensive due to many different things that have to be considered. One of the first steps is that the brand needs to be created. When this stage is taken, the next one is to communicate the brand by using it for all the representing articles like letters or brochures. One rather risky point is that these articles have to be printed before the destination marketers even know if the brand will be understood by the potential tourists or visitors or not. But why is it still so important that destinations brand themselves when there are all these aspects which are at first sight rather negative? Kolb (2006) argues that branding can develop repeat visits due to familiarity with the brand. In the best case branding remembers the tourists of all the benefits the destination has to offer and therefore may create brand loyalty (Kolb, 2006: 229). The loyalty towards a brand can most easily be achieved through the constant use after the successful creation of a brand. When the potential tourists or visitors understand the brand and are attracted by it they may visit the destination. If they like it and the well-working brand remains they possibly visit the destination again which means that brand loyalty is created. One very well working example is the case of New York City with its brand I love NY. The potential creation of loyalty towards a brand leads to the idea of building a relationship with a brand and therefore with the corresponding destination. This is suggested by Kotler (1997; as cited in Tasci and Kozak, 2006: 300) who mentions the evoke of emotions. Furthermore this idea arises as well according to Morgan et al. (2002) who argue that the potential tourists and visitors need to get a relationship with the destinations visited. They reason that it is not a question of price but a question of emotions what makes the tourists visit or revisit a certain destination. The author of this essay not fully agrees to this statement. The point with the relationship may be true as well as important but nevertheless nowadays, after the financial crisis, the people have less money to spend and therefore the price is an important point when choosing holidays. However, the idea of having a relationship with products is nothing new, it is already suggested by several other academics (e.g. Urdde, 1993; Sheth, Mittal and Newman, 1999; as stated in Morgan et al., 2002). Along with Kolb (2006: 18) it is necessary that a brand gets into the consumers mind. Without this step it would not even be possible to build a relationship with a brand. This goes along with Lury (1998: 4) who argues that it is our perceptions our beliefs and our feelings about a brand that are most important. However, according to Hallberg (1995) mere emotion is not enough, the key is to develop a strong brand which holds some unique associations for the consumer but emotion has always been an important component of branding (as cited in Morgan et al., 2002: 12). According to Weinreich (1999; as stated in Morgan et al.,2002: 25) in the case of destination branding the destination managers should not think in terms of the traditional brand life cycle, brand managers should be thinking of the S-curve which charts a brands life and development through birth, growth, maturity, decay and death (see Figure 1). The S-curve symbolises a series of stages in the brands relationship with its consumers, revealing useful insights into a brands communication requirements (Weinreich, 1999; as stated in Morgan et al.,2002: 26). The first stage in the S-curve diagram, the fashionable stage, shows the stage when the destination is new and exclusive and therefore yet small due to the lack of advertising activities (Weinreich, 1999; as stated in Morgan et al.,2002: 26). Within the next and so-called famous phase, a destinations brands consumers are loyal and affluent but at any time the destinations brand values may become irrelevant to them hence the on-going need for them to remain fresh and appealing. According to Weinreich (1999; as stated in Morgan et al.,2002: 27) the destination needs to remain contemporary but if it fails, it will drift into the familiar zone where everyone knows about the destination, but it hast lost its appeal. The following stage is the familiar phase wherein it is not easy anymore to attract lucerative market segments. This stage is followed by the fatigued phase in which the question of a potential refreshment needs to be asked. Figure 1 Source: Morgan et al., 2002: 25 According to Gilmore (2001) it is essential that a destination is unique. Furthermore Gilmore argues that this uniqueness has two different sources: first, the culture of the destination itself, which is normally unique or a unique combination of cultures, and, second, from the combination of other benefits convenient yet unspoilt, lively city with peaceful countryside, historic monuments and great food (as cited in Morgan et al 2002: 60). When a destination does for example not have great cultural aspects to offer, food can be a very important benefit for a destination. Along with Hall (2004: xiii) [à ¢Ã¢â€š ¬Ã‚ ¦] food is a significant part of tourism. Furthermore Hall (2004) argues (as cited in Hall et al., 2003) that food has come to be recognized as part of the local culture which tourists consume, as an element of regional tourism promotion [à ¢Ã¢â€š ¬Ã‚ ¦]. This statement leads to the possibility that a destination may include its traditional food into the brand which is a very effective way of using a benefit if others like for example the countryside are not really effective. According to Mitchell and Hall (2003; as cited in Gyimà ³thy and Mykletun, 2009: 260) the growing interest in culinary products and traditions implies that food is also becoming a more important factor in influencing tourists motivations for traveling to a particular destination. Furthermore they argue that it is necessary to market the culinary products to the various consumers. To use traditional products like food is how a destination may rebrand itself successfully if for example another brand did not work very well to attract tourists. But there are also other reasons why destinations may have to rebrand themselves. Additional reasons are disasters, natural as well as manmade ones and political issues. In this case rebranding is very important because the destinations need to regain the visitors trust again. A destination or even a whole country may have certain image problems due to for example a crisis or a war. Therefore it is very important for destination marketers to create a new brand that convinces the potential tourists or visitors of the good sides the destination has to offer, even when the image is perceived differently. As could be seen to brand a destination is different than to brand any kind of product. As many academics (e.g. Kolb, 2006; Milligan, 1995; Tasci and Kozak, 2006) argue it is necessary to create successful brands for destinations in order to be competitive in the huge existing global market. A successful brand that is understood by the potential tourists or visitors may create loyalty towards a brand. However, before brand loyalty can be created it is essential to produce a well-working brand that is understood simply. In many cases this is not really easy and it always depends on what a certain destination has to offer to the consumers. If a destination does not have any outstanding offers like for example a unique combination of cultures or a special countryside it is also possible to use for instance the local food to attract potential tourists or visitors and to use it for the brand (Gilmore, 2001). But according to many academics (e.g. Kolb, 2006; Morgan et al. 2002) the most important thing is that a relationship with a certain destination has to be achieved. Otherwise the potential tourists or visitors would not visit or revisit the destination and brand loyalty would not be created at all (Kolb, 2006). To build a relationship towards a brand expects that the message of a brand needs to be understood. Therefore another important point when creating a brand is the message that shall be communicated to the consumers. It should be understood by the potential tourists or visitors, which are a specific target group, to attract them; otherwise they will rather not be interested in the destination (Kolb, 2006). But not only the creation of the message itself is a challenging point within the developing process of a brand. Furthermore, the brand has to pass through different stages, which is shown in a diagram called the S-Curve. These various phases in a brands life all have their o wn challenging points and the destination marketers have to be aware of those already in the developing process of a brand (Weinreich, 1999). Although within the developing process of a brand those challenging steps occur, it is inevitable for destinations to brand themselves. Only through branding the potential tourists or visitors can build a relationship with the destination. And therefore the destination can be attractive as well as competitive. In the future it will be important for destination marketers to stick to their well-working brands if they have already created one or change their brands if it is necessary to rebrand the destination. Otherwise it would not be possible at all to compete against the huge amount of existing offers all over the world. As the most important point is the creation of a relationship it is therefore necessary that the brands created help to build a relationship between the destinations and the potential tourists or visitors. Only through the connection between a destination and the consumers a destination can be competitive and the message will be heard over all the other messages. Bu t without a brand it would not even be possible to attract anybody.

Dedicated Police Officers in the Film, End of Watch Essay -- Criminal

End of Watch (Ayer, 2012) is a film which follows the lives of two police officers, partners Brian Taylor and Mike Zavala, in the Los Angeles Police Department. The movie is shot in the style of a documentary and because of this the film centralized on these two officers and their patrols. When the film began Taylor and Zavala had just successfully apprehended two suspects in a high speed car chase which they were praised for by other officers and members of the department. From then on out the officers made a number of impressive arrests, rescues, and discoveries the two partners made throughout the film. Unfortunately for the Taylor and Zavala, their successfulness in investigating and apprehending locations and suspects of a drug ring caught the attention of the leaders of a Mexican drug cartel. A hit was put out on Taylor and Zavala by leaders of the Mexican drug cartel because they were becoming a nuisance. This hit was carried out by the same Latino gang members who had previously done a drive-by shooting of a rival gang. The officers were enticed towards their imminent deaths with a car chase which was set up by the Latino gang members. This chase led them towards an apartment complex which was rigged with many gang members and artillery to ensure that neither Taylor nor Zavala would survive. The two were ambushed but decided that gunning their way out was their best option. When the officers made it to an alley they were met by another Latino gang member who fired at Taylor and Zavala, hitting Taylor once in the chest before being shot and killed by Zavala. Zavala went to aid Taylor who appeared to be quickly dying and called out for help. Before police back up arrived the original Latino gang members found Zavala in the... ... of risks come with being a police officer. Solutions used to deter and prevent crime in the film End of Watch (Ayer, 2012) focused on police and the duties officers perform while on patrol. In the movie police officers played a central role in the capture of many gang and drug cartel members. This was told through the perspective of officers Brian Taylor and Mike Zavala. Therefore, the solution to crime concentrated on the police involvement, in this case Taylor and Zavala, through their presence, protection, arrests, and investigations. This solution could be generalized and would be possible through the hard work of dedicated police officers. Works Cited Ayer, D. (Director). (2012). End of watch [Motion picture]. USA: Exclusive Media Group. Seigal, L. J., & Worrall, J. L. (2012). Introduction to criminal justice (13th ed.). Belmont, CA: Wadsworth.

Judaism popular jewish holidays

To demonstrate your repentance and make amends for all the sins youVe committed. Yom Kippur is a complete Sabbath; no work can be performed on that day. It is well- nown that you are supposed to refrain from eating and drinking (even water) on Yom Kippur. It is a complete, 25-hour fast beginning before sunset on the evening before Yom Kippur and ending after nightfall on the day of Yom Kippur. The Talmud also specifies additional restrictions that are less well-known: washing and bathing, anointing one's body (with cosmetics, deodorants, etc. , wearing leather shoes, and engaging in sexual relations are all prohibited on Yom Kippur. It is customary to wear white on the holiday, which symbolizes purity and calls to mind the promise that our sins shall be made as white as snow (Is. :18) 3. Sukkot Significance: Remembers the wandering in the dessert; also a harvest festival Length: 7 days The Festival of Sukkot begins on Tishri 15, the fifth day after Yom Kippur. Sukkot is so unreserved ly Joyful that it is commonly referred to in Jewish prayer and literature as Z'man Simchateinu , the Season of our Rejoicing.Sukkot has a dual significance: historical and agricultural. Historically, Sukkot commemorates the forty-year period during which the children of Israel were wandering in the desert, living in temporary shelters. Agriculturally, Sukkot is a harvest festival and is sometimes referred to as efers to the temporary dwellings that we are commanded to live in during this holiday in memory of the period of wandering. The festival of Sukkot is instituted in Leviticus 23:33 et seq. No work is permitted on the first and second days of the holiday. . Shemini Atzeret Significance: A follow-up to Sukkot; the completion of the annual cycle of Torah readings Length: 2 days (Some: 1 day) Customs: Limited â€Å"dwelling† in the sukkah; dancing and rejoicing with Torah scrolls Date: the day after the seventh day of Sukkot, Shemini Atzeret literally means â€Å"the assem bly of the eighth (day). Sukkot is a holiday intended for all of mankind, but when Sukkot is over, the Creator invites the Jewish people to stay for an extra day, for a more intimate celebration.Shemini Atzeret and Simchat Torah are holidays on which work is not permitted. 5. Simchat Torah Simchat Torah means â€Å"Rejoicing in the Torah. † This holiday marks the completion of the annual cycle of weekly Torah readings. Each week in synagogue we publicly read a few chapters from the Torah, starting with Genesis Ch. 1 and working our way around to Deuteronomy 34. On Simchat Torah, we read the last Torah portion, then roceed immediately to the first chapter of Genesis, reminding us that the Torah is a circle, and never ends.This completion of the readings is a time of great celebration. 6. Chanukkah Significance: Remembers the rededication of the Temple after it was defiled by the Greeks Observances: Lighting candles Length: 8 days Customs: eating fried foods; playing with a dre idel (top) Chanukkah, the Jewish festival of rededication, also known as the festival of lights, is an eight day festival beginning on the 25th day of the Jewish month of Kislev.Chanukkah is probably one of the best known Jewish holidays, because of its roximity to Christmas. Many non-Jews think of this holiday as the Jewish Christmas, adopting many of the Christmas customs, such as elaborate gift-giving and decoration. It is extremely ironic that this holiday, which has its roots in a revolution against adaptation and the dominance of Jewish religion, has become the most conformed, secular holiday on our calendar.The only religious observance related to the holiday is the lighting of candles. The candles are arranged in a candelabrum called a menorah (or sometimes called a chanukkiah). 7. Pesach: Passover Significance: Remembers the Exodus from Egypt ommunal retelling of the Exodus story Length: 8 days (Some: 7 days) Exodus 12:14-17 Agriculturally, it represents the beginning of th e harvest season in Israel, but little attention is paid to this aspect of the holiday.The primary observances of Pesach are related to the Exodus from Egypt after generations of slavery. This story is told in Exodus, Ch. 1-15. It refers to the fact that G-d â€Å"passed over† the houses of the Jews when he was slaying the firstborn of Egypt. In English, the holiday is known as Passover. â€Å"Pesach† is also the name of the sacrificial offering (a lamb) that was made in the Temple on this holiday.

White Collar Crimes (Embezzlement)

Introduction I’m here to talk about the dangers of embezzlement. Throughout my discussion I will discuss the underlying factor to the rise in the rate of embezzlement. We will also look at how a few big embezzlement schemes have influenced their business and their business’s industry. Because of this growing threat we will look at some factors that perpetrators are affected by that might influence him/her to commit company theft which can aid to help further prevent and detect company theft.Lastly I will discuss some preventable measures and steps companies can take to further detect criminal activity within their business, specifically employees who handle cash flow. What is Embezzlement? So what is embezzlement? The federal bureau of investigation defines embezzlement as the misappropriation or misapplication of money or property entrusted to one’s care, custody, or control. Embezzlement in Businesses (What is Embezzlement? ) – General and Relevant Facts All types and sizes of businesses can be victims to embezzlement (small/large businesses as well as non-profit and government entities).Businesses have to be vigilant when dealing with criminal activity which is especially true for small businesses. The Association for Certified Fraud has found that 39% of all fraud occurred in companies with fewer than 99 employees. Up to an astonishing 30% of small businesses fail due to criminal activity. It is estimated that small businesses faces on average $190,000 loss due to embezzlement compared to the $159,000 for average sized businesses. Why is it rising?It isn’t a disputed fact that the rate of criminal activity increases during a time of economic recession and in difficult economic conditions, businesses are struggling to compete for fewer business opportunities. This creates an incentive for companies to deviate from proper business practices and engage in fraudulent activity to maintain revenue. This idea can be depicted in t his quote, â€Å"Some individuals, especially small business owners, become obsessed with a failing business endeavor, cannot walk away from it, and will go to ‘extraordinary’ measures to keep the business going† (Lindquist & Goldberg, 2009)There was evidence of an increase in company theft during the economic downturns of 1987, 1991, and 2001. For example just after the savings and loans crisis in the 1990s arrests shot up by 52% and during the recession in the early 2000s criminal activity increased by 25% From this we can conclude that there is definitely a correlation between a recession and a rise in embezzlement. Impacts of embezzlement According to David O’ Friedrichs, a criminal justice professor at University of Scranton stated â€Å"white-collar crimes have further, reaching, deeper and more lasting impact than street crime. Thefts by employees are of the most costly problems facing new and existing businesses. Experts have shown company theft h as the potential to reach 240$ billion dollars which includes intellectual property stolen during that year. It isn’t a surprise that the cost of embezzlement is two to three times than that of street crimes. Also 30-50% of all businesses affected by embezzlement fail. Other potential effects include increase in taxes, lost investments, and increase in unemployment. Guarantee Building & Loan AssociationOn December 9th, 1930 Gilbert, the founder of Guarantee Building & Loan Association was found to have embezzled an estimated $8,000,000 which in today’s amount would be $100,000,000. Many local businesses and individuals were crushed by his embezzlement scheme. According to TIME Magazine â€Å"no less than 2,500 Guaranty depositors have gone to the poorhouse or the insane asylum, some 30 have committed suicide†¦Ã¢â‚¬  This example demonstrates the extreme ripple effects of a multi-million dollar scheme. Commonwealth Building & Loan AssociationDuring the winter of 1955, Minnie Magnum, the assistant secretary-treasurer was accused of misappropriated an estimated 3 million dollars (36 million dollars in today’s amount). This scheme was highly publicized because the scheme lasted for up to 22 years before detection. This demonstrates the evasive nature of embezzlement. In the end the Commonwealth Building & Loan Association had to file for bankruptcy. This is only one of the many businesses that fail due to embezzlement. Brunei’s Battle Royale Brunei is a small country that consists of 300,000.Their council consisted of people in royalty with high positions in their government and key businesses. It became a big story when Prince Jefri Bolkiah was accused of embezzling billions from the state treasury and his businesses. Not only was he the finance minister for his country, he also was the chairman of the Brunei Investment Agency, and head of Amedeo Group which pretty much increased his opportunity for criminal activity. John M. Ca llagy, a lawyer who represents Amedeo Hotels Ltd. , estimated Prince Jefri to have siphoned off $40 billion. The small country of Brunei needs the mission billions to help recast its economy.This example demonstrates how even government entities can also be vulnerable to theft. Behavioral Characteristics of White Collar Criminals Now that we have a better grasp on the dangers of a multi-million/billion dollar embezzlement scheme we can go onto discussing what exactly motivates perpetrators to steal from their company. Dr. Donald R. Cressey believes understanding factors that influence white collar criminals to steal from their company can manifest in helping society create better procedures to reduce the rate of embezzling during an economic recession.Dr. Cressey believes there are internal and other factors when it comes to why people violate company trust. The classic fraud triangle theory can also aid us in realizing the mentality behind company theft by employees. The fraud tria ngle theory states that there must be three basic elements for fraud to come about – they are opportunity, incentive/pressure, and rationalization/attitude. The classic fraud triangle theory can be linked to behavioral characteristics of white collar criminals. Internal Factors (Incentive/Pressure)An internal factor or conflict that an embezzler faces when he makes the decision to commit the crime is based behind the idea of personal failure. For example if an individual loses the majority of his savings because of a gambling addiction, Dr. Cressey believes that individual will commit to embezzling because he/she has too much self-respect and pride to tell his family, friends, and company (employer) of how he exhausted all his money. So to continue to support his friends and family financial he has a greater incentive/pressure to steal from his company to support his lifestyle.Other â€Å"personal failures† include shopping addiction, substance abuse, entrepreneurial f ailure, investment failure etc. â€Å"Other† Factors (Rationalization/Attitude) Other factors that influence employees to commit company theft is based on the idea behind entitlement belief – he/she believes they are more deserving of the money which ties in with the attitude element of the classic fraud triangle theory. Other factors also include financial need, supporting a personal business, and supporting a significant other which ties in with the rationalization element.How do we tie these factors to preventing and detecting? As of now there is not enough data to fully explain the embezzlement phenomenon in a psychological stand point. The psychologies behind these factors as well as the classic fraud triangle theory is essential and should be dissected further to better create procedures to help reduce the rate of embezzlement. I believe once enough research is done there can be changes to the hiring strategies for prospective employees. Preventing and Detecting: The Steps How society views white collar crimes have slowly been evolving.In the past many people viewed white collar crimes to be victimless; that perpetrator did not deserve a long prison sentence. Nowadays we understand how dangerous and harm a huge embezzlement scheme can inflict. The shift in society’s mentality behind white collar crimes emphasizes the need for polices to be implemented to safeguard against potential scandals especially during an economic recession. Step 1: Create a Policy Many companies think it is unnecessary to create a policy that states stealing is wrong.In reality this step is one of the most important and effective step a company can take to diminish company theft. Creating a policy against company theft helps creates the idea that the company is always aware of their employees and that they will not tolerate criminal activity within the workplace. Secondly, this is important because there are grey areas and company theft needs to be defined. Ex amples can include not knowing when to actually charge the company credit card to pay for meals or using the company phone for certain calls, etc.Step 2: Creating Checks and Balances One of the biggest reasons small companies are more vulnerable to embezzlement is because they do not have checks and balances that established businesses have. For example they could be a recently established business and there can be a few or one employee controlling the majority of the positions that handle cash flow. This creates a bigger opportunity for that employee to embezzle money from the company. Creating checks and balances decreases the opportunity element.One checks and balances procedures a company can commit to is a separation of duties as implied earlier. Meaning different people should handle different positions within the business. Companies should designate different employees who deal with cash receipts and deposits, cash disbursements and electronic fund transfer operations, and ba nk reconciliation. Another effective control procedure includes internal audit procedures for monitoring cash, accounting for transactions, and preparation of financial statement. Companies can also cross-train employees, require vacation time, reate a periodic financial check for their employees, and separate and monitor payroll functions to help decrease the overall rate of embezzlement in our economy. In general, the company should â€Å"follow the cash trail. † Step 3: Inspecting your employees Focusing on finding the right employee for a position is extremely important, especially for a position that handles cash flow. Some tools companies can use to help them along the hiring process would be using an employment agency. Administering drug and background checks. Of course monitoring employees does not stop there.Inspecting your employees should be an on-going process. Companies can hire an independent CPA to provide a periodic audit of dual controls and theft prevention which allows for better scrutiny of their employees because they will not know when they are going to be investigated. Lastly the company can review employee expense reports to check for illegal spending. Step 4: Setting an example/practicing zero tolerance Setting an example for people who have embezzled money can be an effective method to help deter others from doing the same.Conclusion Now that we realize there is a growing threat for the rise in the rate of embezzlement, there is a stronger emphasis for the need of companies to establish the controls procedures to help prevent and detect embezzlement. Hopefully in the future there will be more studies on the behavioral traits of embezzlers which can be a very important to helping finding the right candidate for a position. Companies without crime prevention and detection measures are sure to be more susceptible to business failure.