Juvenile Justice System As A Form Of Crime Control

Social control has been a central concept in sociological discussions of law for the past century (Black, 1976), the juvenile justice system as a form of social control is no exception (Blomberg, 1977). Juvenile justice has a rich history in early British Law, but as a separate entity in the US, its history is relatively short but no less important. What began as a movement to separate youths from adults to shield them from contamination of incorrigibility (Fox, 1996), appears to have become another way of legal segregation and control of the underclass, impoverished, minority youths living in disorganized neighborhoods (Staples, 1987). Is the juvenile justice system as social control a form of crime control or control of the underclass? In Donald Black’s The Behavior of Law (1976), Black maintains that law is the governments’ way of attaining social control, and law is â€Å"the normative life of a state and its citizens, such as legislation, litigation, and adjudication (p .2).† For Black, law is a quantitative variable that varies across time, and the structural and cultural aspects of society can predict the style, form, and quantity of social control at any given time. Law is predicted by the conditions under which various types of control systems develop, the kinds of people who use them, and the case outcomes that emerge. The social structure of cases, including the social characteristics of offenders and their victims, supporters and adjudicators, can explain theShow MoreRelatedCrime And Crime Of The United States1389 Words   |  6 Pages Recent surveys have indicated that crime rate in the United States is on the rise. Crime in the U.S. is classified into property crime and violent cri me. These criminal activities have a considerable impact on a state’s social and economic growth and development. Different states in the U.S. have developed different strategies to combat crime, which continues to transform in form and frequency. A number of policies, options, and approaches to crime control exist. This report explores some of theRead MoreReform Struggles During The 1960 s S And It Changed The Appearance Of The Juvenile Justice System858 Words   |  4 Pagesappearance of the juvenile justice system. New York passed legislation in 1962 which made a family court system. This court system took on the responsibility for all concerns which involves family life and heavy concentration on delinquent and neglected youths. The PINS (person in need of supervision) and CHINS (children in need of supervision) were also created by legislation which contains issues like truancy. When utilizing these labels it sets jurisdiction over youth, juvenile courts extended theirR ead MoreBad Kids Race And The Transformation Of Juvenile Court1649 Words   |  7 PagesIn Bad Kids Race and the Transformation of Juvenile Court, Barry Feld provides a history as well as possible solutions to the problems that currently have a grapple hold on our juvenile justice system. Barry Feld is one of the nations most respected scholars of juvenile justice and currently teaches the subject, amongst other things, at the University of Minnesota. Feld himself graduated from law school at the University of Minnesota and later received his Ph.D. in sociology from Harvard. This book’sRead MoreJuvenile Justice Systems833 Words   |  4 PagesIntroduction Juvenile crime is a term around the world that is difficult to pinpoint and although there are several definitions many fail to be concrete. There are many factors that play into sentencing juveniles or minors upon a crime committed. How old are they? Can they mentally form criminal intent? Are they old enough to no longer be treated as children? Some people would argue that a criminal is just that, regardless of age. Research on the other hand shows that juveniles have underdevelopedRead More Preventing Juvenile Delinquency Essay1386 Words   |  6 PagesPreventing Juvenile Delinquency The saying is that history often repeats itself. If this is true then society will have to deal with the complex burden of juvenile who eventually become adult criminals. However, if this saying is not true then the community in which juvenile delinquency exist must have the tool necessary to divert the youth in the community. If one is to change delinquent youth’s behavior, they need to variegate the justice system in order to prevent juvenile delinquent recidivismsRead MoreEssay on Juvenile Delinquency1652 Words   |  7 PagesJuvenile Delinquency Everyday we read in the newspaper or watch T.V and hear news of crimes committed by Juveniles. With all of the crime being reported by the media about juveniles, one can’t help but wonder if all of our nation’s youth are juvenile delinquents. Although there are many cases where the juvenile did not commit a serious crime, there are others where the crime is so bad the juvenile court system tries the juvenile as an adult. Instead of seeking help for the individual, our justiceRead MoreRehabilitation Is The Best Punishment For Juvenile Crime900 Words   |  4 PagesWhen it comes to juvenile crime, there is a concern for the offender, the innocent, and accountability for their actions. The major three values for the philosophical justification for punishing juvenile crime is†¦retribution, deterrence, and rehabilitation also known as correction in the juvenile court system. There is no doubt that if a crime is committed, the offender should and shall be punished. The doubt come in when the offender(s) are under the age of eighteen which is the majority for mostRead MoreEssay on Juvenile Justice1506 Words   |  7 PagesPortfolio on Juvenile Status Offenders A juvenile status offender is a youth charged with an offense that is not consider a crime if committed by an adult; this would include but not limited to running away from home, curfew violations, underage drinking, skipping school, or beyond a parents control. Status offenders are usually not incarcerated on their first offense, but violating a court order can find them as delinquent who can result in being place in a correction or detention facility. Read MoreRaising The Age1517 Words   |  7 Pageslittle made to distinguish criminal responsibility of children versus that of adults. During this time, juveniles, some young as seven years old could be tried and prosecuted within an adult criminal court. Children would have to stand for trial in court based on the offenses they committed, and could then be sentenced to prison and sometimes possibly even capital punishment. Is this form of justice beneficial to minors, or does it just obstruct their futures? Children, as young as the age of sevenRead MoreThe American Juvenile Justice System1043 Words   |  5 PagesAmerican juvenile justice system had developed over the past century with a number of variables that makes it different from the adult criminal justice process. Juvenile justice advocates supports the differences on the youthful offenders. Juvenile crime policy over the course of the twentieth century talks about transferring the law’s conceptions of young offenders. Starting from the nineteenth century, many of the youths were tried and punished as adults. However, treatment of juveniles in the United

Market Positioning A Successful Marketing - 1465 Words

Being established in the year 1877 as the first trademark for a breakfast cereal, Quaker Oats Company has dominated the Oat meal market for over 1 century. Quaker believes that they are â€Å"Committed to uncover the power of the oat to provide families with the healthy fuel they want to help them do more of what matters.† One of the most key concepts in a successful marketing is to market positioning. In market positioning, it is ideal to be the first in a market. Studies has proven that the easiest way to get into a person’s mind is to be first. Quaker meal has mastered the concept of product positioning. They have proven first in many categories in the Oatmeal category. In 1877 Quaker registered as the first trademark for a breakfast cereal.†¦show more content†¦According to Forbes, there are several key factors towards the growth of health and wellness: †¢ Progressive health and wellness consumers are greatly influencing the community into a healthy consumer. Progressive consumers are no longer interested in consuming product such as non-fat, low carb products but are more interested in consuming â€Å"real† food with quality ingredients such as kale and nuts. †¢ The generation Z (1996-2010) has an enormous impact on today’s market. This generation makes up to 23% of the U.S. population. With the growing trend of technology and healthy lifestyle, the generation Z are naturally attracted towards a more innovative and healthy product. †¢ The concept of energy of living an active life, is increasingly growing in the American society. This very concept relates to the idea of a healthy energy source. Therefore, healthy food market is positively affected. †¢ Consumers managing diabetes look to food and beverages for solutions. Statistics proved that in every 30 seconds, a new case of diabetes is diagnosed. In total, more than 1.9million people are diagnosed with diabetes every year. Consumers with diabetes look towards products which are organic and on the healthier spectrum. According to the Organic Trade Association (OTA), â€Å"the booming U.S. organic industry posted new records in 2015, with total organic product sales hitting a new benchmark of $43.3 billion, up a robust 11Show MoreRelatedBusiness Segmentation and Market Targeting1563 Words   |  6 Pageslarge, broad or diverse markets. But they can divide such markets into groups of customers or segments with distinct needs and wants then it needs to identify which market segments it can serve effectively. This decision requires a keen understanding of customer behaviour and careful strategic thinking.to develop a best marketing plan one should need to understand what makes each segments unique and different. STP or segmentation, targeting and positioning is a marketing tool which helps an organisationRead MoreThe Interface Between Marketing And Management775 Words   |  4 PagesThis week I found an article in the Journal of Strategic Marketing. This journal publishes paper on key aspect of t he interface between marketing and management. It also identifies long terms objectives and strategies for companies to bridge the disciplines of marketing and management. The article was written by a team of authors: Charles Blanksona, Kirsten Cowana, John Crawforda, Stavros Kalafatisb, Jaywant Singhb and Stanley Coffiec in October 2013, by Taylor Francis Online. Between theseRead MoreMarketing on Ford Fiesta1529 Words   |  7 PagesModule: Marketing Assignment: 1/2 Author: Christian Gondek 1st Academic Semester 2010/2011 Essen, 21.01.2011 Executive Summary - Part I The Ford Motor Company (FMC) is one of the biggest and most successful automotive manufacturers in the world based on a long tradition of automotive development. Since 1931, the plant in Cologne has produced more than forty million vehicles. The focus of this assignment is to analyse the latest version of the product Ford Fiesta (FF) for the German market whichRead MoreMarketing Plan and Stp1192 Words   |  5 PagesMarketing Plan Marketers have essentially four variables to use when crafting a marketing strategy and writing a marketing plan. They are price, promotion, product and distribution (also called placement). They are sometimes referred to as the four p s. A marketing mix is a combining of these four variables in a way that will meet or exceed organizational objectives. A separate marketing mix is usually crafted for each product offering. When constructing the mix, marketers must always be thinkingRead MorePositioning Strategy For The Marketing Program830 Words   |  4 PagesPositioning refers to the act of distinguishing a brand in customer’s minds relative to a competing brand in terms of the benefits and attributes that the brand offers, Keegan and Green (2005). According to Aaker and Shansby (2001), positioning goes far beyond the image that a marketer may want to conjure up in the mind of customers. Positioning can be viewed as a principle asset to a brand strategy, as all elements of the marketing program can potentially affect the effectiveness of any positioningRead MoreTarget Market Segments1229 Words   |  5 PagesTarget market segments There are four different market segmentations that Starbucks coffee has targeted to establish its brand equity in the industry. First of all, Starbucks coffee’s demographic segmentation targets men and women in between the age of 25 to 40 years old. (Huff Post, 2013) However, later on the company decided to modify its segmentation to also target students. Starbucks coffee’s geographic segmentation is to target individuals that either goes to the mall, hotel, restaurant andRead MoreMarketing Positioning1419 Words   |  6 Pagesstrange word, â€Å"positioning.† Its origins are shrouded in the fog of history. The popular marketing writers, Jack Trout and Al Ries, started talking about position or positioning in 1972 or thereabouts, and took credit later for having invented positioning. However, I believe that positioning was an emerging concept and a term, in at least limited use, within the marketing and advertising community at the time that Trout and Ries first wrote about it. Certainly, the basic concepts of positioning were notRead MoreMarketing Mix Of A Business Organization1210 Words   |  5 PagesThe term â€Å"marketing† is a function unusual to business firms to most of the people but it is an important part to the success of business whether large or a small and its most important focus is on quality, consumer value and customer satisfaction. It is a business function that identifies consumer needs, determines target markets and applies products and services to serve these markets. It is seen as the task of finding and stimulating buyers for the firms’ output. It involves production developmentRead MoreSegmentation, Targeting and Positioning – Achieving a Successful Marketing Mix.1482 Words   |  6 Pagestargeting and positioning – achieving a successful Marketing Mix. Creating and planning our own business we have to remember that the business is composed of variety of things which support one another. Our goal should be preparing a good marketing strategy which is a part of general strategy of our business. The marketing strategy contains segmentation, targeting and positioning what is a plan how our company will work in chosen market to gain our goals. Segmentation, targeting and positioning shouldRead MoreMarket Analysis : Market Segmentation1603 Words   |  7 PagesEMV 20318 Market Segmentation Market segmentation is a subsist of group of consumer who share a common needs in a market segmentation, where as those customer share similar character in a same segment. Segmentation is a most important necessary idea in marketing sector where as company vary widely in their skills to serve various kinds of consumers. Therefore, instead of making attempts to contend in an complete market, firms should segment the market. Through the method of market segmentation

The Leadership Of A Servant Leader - 1474 Words

Introduction: There are many ways that a person can lead. Some lead in an organization that creates entertainment. Others may lead in a small household that provides services. In Boeing, sound processes need to be put in place for an organization to be successful. Furthermore, organization justice needs to be employed and a suitable mission statement adopted to signify the organizational goal. However, the success of the organization amplifies when a servant leader is leading. A servant leader not only understands the importance of the process in an organization, but also understand that the people in the organization are what drives the organizational success. The servant leader understands that organizational behavior influences†¦show more content†¦It is the world’s largest aerospace company and leading manufacturer of commercial jetliner and defense, space and security systems. The management of the company has many bright and intelligent individual. It is also widely known that the Boeing Company carries a solid fundamental Theory X approach to doing business in the aerospace industry. The extreme emphasis on process was from the influence of William Edwards Deming where quality results are measured by productivity. Although it is widely successful, there is room for additional improvements. According to Jerald Greenberg (Greenberg 2013) that learning is a relatively permanent change in behavior occurring as a result of experience (p.84). For Boeing Company to take the organization to the next level, it’ll need to adapt the Theory Y approach in dealing with individuals. In addition, leaders at the helm of the perennially great companies all share a common trait called humility (Lennick et al, p.19). It is from this unique trait that improves employee’s work-related attitudes. Furthermore, the organization commitment to the employees garner their trust and elevate their relational contracts to the company. It is important for an organization to build a better long lasting culture. A culture that emphasizes on developing moral skills. There has been an increasing number of organization realizing the performance benefits of emotional intelligence (LennickShow MoreRelatedServant Leadership As A Servant Leader778 Words   |  4 PagesATT executive, coined the term servant leadership. Slightly more than three decades later, the concept of servant leadership is increasingly viewed as an ideal leadership form in which organizations are aspiring to achieve. Many people think of servant and leader as being opposite roles, when in fact they can coexist, and more and more executives are looking toward this new way of leading. Following is a list of qualities that are necessary in being a servant leader. 1) Humility †¢ Humility can beRead MoreServant Leadership As A Servant Leader1620 Words   |  7 PagesServant Leadership As written in the lines above, employee engagement has a significant impact on an employee and their engagement. Although there has been many articles and research written about leadership and servant leadership, in this study, it will provide and overview, key traits and influences that servant leaders use in collaboration to address significant problems with strategy and other individuals. Therefore, how do managers and leaders facilitate the engagement of their employeesRead MoreServant Leadership : A Servant Leader981 Words   |  4 PagesHistorically, servant leadership has been one of the most applicable theory used to describe a person s or an organization act of service. In which most can state it brought about improving the quality of people s lives. Highly respected servant leaders that people honored and admired such as Gandhi, Mother Teresa, and Martin Luther King, Jr., has earned their glorious name as a faithful servant leader because they removed obstacles from peop le s path by bringing about social changes (NahavandiRead MoreServant Leadership As A Servant Leader904 Words   |  4 PagesIntroduction Servant leadership has the ability to enhance individual lives, create better organizations and provide a world where everyone’s cares according to Robert Greenleaf (Greenleaf). The purpose of this paper is to introduce servant leader operational philosophy to the organization to maximize the capacity of the company’s performance with the ability to strengthen personnel growth from the lower to the upper level employees. By implementing this philosophy, the outcome is extremely positiveRead MoreServant Leadership : The Servant Leader902 Words   |  4 PagesServant Leadership The Servant is a motivating, influential, empowering, and informative book. Just from the title, it seems so simple; a servant leader is someone in a leadership position that serves other. Yes, this is one small part of what servant leadership stands for, but there are many more components that shape a servant leader. Hunter (2012) states â€Å"Anyone wanting to be a leader must first be a servant. If you want to lead you must serve (p.71).† Being a leader is defined as positivelyRead MoreLeadership Of A Servant Leader Essay1211 Words   |  5 Pages1. Leadership is maximizing team output through shared goal setting, accountability and support. 2. Leadership influences during my career come from the highest end culinary â€Å"servant leaders† from all four military services, the White House, Department of Homeland Security and civilian catering companies. On the contrary, these were not the â€Å"leadership term of the day† servant leaders (bosses who try to serve the people who work for them). These are servants whom, thru a life of service, now leadRead MoreThe Leadership Of A Servant Leader885 Words   |  4 Pages Servant leadership is crucial in any form of leadership. Some would even argue that servant leadership is the best form of leadership. When the topic of servant leadership arises, there is one name that stands out amongst the greats: Mahatma Gandhi. Gandhi was known for his quiet, servantly form of leadership that had an immense impact on the world. It is said that Gandhi was the greatest servant leader in history, second only to Christ. In order to see the leadership of this man, the story Read MoreServant Leadership Characteristics Of A Servant Leader881 Words   |  4 Pagesthe broadest sense, a servant leader is one who leads others with the mindset of a servant. The primary motivation of a servant leader is to provide encouragement and facilitation in others by treating them as an ends in themselves rather than as a means to an ends. A servant leader values the people he or she leads by sharing power and enabling others to develop and flourish (Waterman, 2011). Waterman’s (2011) study found the following: The expression of servant leadership characteristics in serviceRead MoreServant Leadership : A Good Leader1447 Words   |  6 PagesServant Leadership The terms servant and leader are typically thought of as being contradictory terms. However, the theory of servant leadership has started gaining more and more notoriety over the last several years. Many organizations are learning that the management and leadership styles of the past are no longer inspiring or influencing the workers of today (Hunter, 1998). Servant leadership combines being able to identify and meet the needs of employees and patients by using the characteristicsRead MoreServant Leadership : A Good Leader1442 Words   |  6 PagesServant Leadership The terms servant and leader are typically thought of as being contradictory terms. However, the theory of servant leadership has started gaining more and more notoriety over the last several years. Many organizations are learning that the management and leadership styles of the past are no longer inspiring or influencing the workers of today (Hunter, 1998). Servant leadership combines being able to identify and meet the needs of employees and patients by using the characteristics

Poverty and Classism - 752 Words

According to Schwartz-Nobel, America will lose as much as 130 billion in future productive capacity for every year that 14.5 American children continue to live in poverty (Koppelman and Goodhart, 2007). Sadly the seriousness of poverty is still often clouded by myths and misunderstandings by society at large. This essay studies the issue of poverty and classism in todays society. Causes of Poverty One of the main causes of poverty is the lack of education. The U.S. education system denies students in poverty the opportunities and access it affords to most other students. Without good education, most people would encounter challenges in finding income-generating work, especially when there are few employment opportunities during†¦show more content†¦This also indicate that poverty does dampen an individuals earnings potential in the future. Relationship between Poverty and Classism Classism refers to attitudes and discriminatory actions towards others based on their low socioeconomic status (Koppelman and Goodhart, 2007). The American capitalist economic system emphasizes on competition and admire the winners. Poor people are perceived as losers and other negative messages. The poor are more likely to be blamed with factors such as lack of effort, lack of ability or loose morals (Koppelman and Goodhart, 2007). Even school children are blamed for not working harder in school to be successful. In America, the rich have always enjoyed advantages that others have not. Contrary to beliefs, financial success has little to do with one’s willingness to work hard in most cases. There are always tax cuts benefiting the wealthiest, which at the same time put more strain on the poor and make them sinking further into debt. Efforts to Combat Poverty or Classism In order to combat poverty or classism, affirmative actions must be taken. Education could play a big role in reducing poverty as a better educated person is likely to enjoy better earnings. Thus efforts should be made to restructure the public school funding so that low-income students areShow MoreRelatedDefinition Of Classism And Poverty1573 Words   |  7 PagesDefinition of Classism and Poverty: Classism is a discrimination based on your social class, but it’s more than that, it’s shunning a fraction of people because they are a different class, it is an inequality in what it is to live. This is a colossal issue that impacts millions and this directly ties into billions through poverty. I may be going on and on about poverty, but you may not know what it is and so you may not know how massive of an issue it is. Poverty is being in a state of such lackRead MoreSocial Injustice of Classism in the United States Essay613 Words   |  3 Pagesfirst generation students it makes the difference between continued poverty or the means of a much improved life. Yet once these students reach the campus of the typical Historically Black Colleges and Universities they are likely to be faced with what might seem like an impenetrable wall of resistance in the form of classist practices commonly found at must universities. As Fulwood (2012) suggests that in order to counteract classism, changes must be made in the systems which perpetuate it. Some ofRead MoreThe Effect Of Media On Classism1484 Words   |  6 PagesBrittany A Brooks The Effect of Media on Classism University of Central Missouri â€Æ' The Effect of Media on Classism Class and the Media The United States was built on the concept of the American dream. The idea that anyone can achieve success if they just work hard enough and are determined enough is very lucrative. Unfortunately the American dream is not as obtainable as many think. 65% of children raised in the bottom fifth income bracket will remain in the bottom two brackets (Adams, et al., 2013Read MoreThe Influence Of Classism : A Poor Economy, Outdated Health Care Programs, And Classism1337 Words   |  6 PagesThe Influence of Classism A poor economy, outdated health care programs, and classism have propelled a majority of Americans into poverty. In a community, groups of people are often disenfranchised through the means of external factors; circumstances they can not control. Harper Lee’s book, To Kill a Mockingbird, conveys a powerful message demonstrating how people can become divided and deprived due to issues that affect a community. The message is appealing because the book is set in the 1930s;Read MoreArticle Analysis : The Lockdown , And Sarah Smarsh s `` Poor Teeth `` Essay1597 Words   |  7 PagesStates were impoverished. Poverty is a vicious cycle, trapping people and families for generations. The inability to escape poverty is due in part to difficult class mobility in the U.S. but also because certain factors reinforce the idea and state of poverty. Bryan Stevenson’s bestseller Just Mercy, Lindsey Cook’s article â€Å"U.S. Education: Still Separate and Unequal†, Michell e Alexander’s excerpt â€Å"The Lockdown†, and Sarah Smarsh’s â€Å"Poor Teeth† all explore the idea of poverty and the systems that sustainRead MoreThe Influence Of Classism : A Poor Economy, Outdated Health Care Programs, And Classism1337 Words   |  6 PagesThe Influence of Classism A poor economy, outdated health care programs, and classism have propelled a majority of Americans into poverty. In a community, groups of people are often disenfranchised through the means of external factors; circumstances they cannot control. Harper Lee’s novel, To Kill a Mockingbird, conveys a powerful message demonstrating how people can become divided and deprived due to issues that affect a community. The message is appealing because the book is set in the 1930s;Read MoreIn Class, We Defined Class Identity As The Socio-Economic,1739 Words   |  7 Pageseducation, skills, and values. We also defined classism as the systemic oppression that categorizes and ranks people into dominant or subordinate groups based on economic status, family lineage, type of job and level of education. Classism tends to provide advantages for the dominant group which is based on the exploitation of subordinate group labor/wages. In learning about the true definition of class and classism, I realized that class and classism categorizes people and puts those of those ofRead MoreDifferences Between Men And Women, And The Classism And Privileges Between White And Black People908 Words   |  4 Pagesprogram helps girls in poverty to be more aware of their surroundings. Destiny learned about birth control, how to survive high school, and how to apply and get into college. After joining this program, Destiny started getting better grades in school and receiving fewer detentions. Black girls do tend to have more of an outspoken attitude but that does not mean they should be suspended from learning. This essay will be discussing the sexism between men and women, and the classism and privileges betweenRead MoreKill A Mockingbird By Harper Lee1333 Words   |  6 Pages A poor economy, outdated health care programs, and classism have propelled a majority of Americans into poverty. In a community, groups of people are often disenfranchised through the means of external factors; circumstances they can not control. Harper Lee’s book, To Kill a Mockingbird, conveys a powerful message demonstrating how people can become divided and deprived due to issues that affect a community. The message is appealing because the book is set in the 1930s; however, some of the veryRead MoreEssay Classism and Its Perspective863 Words   |  4 Pagesperceptions what is right or their family values, mores and customs. This is especially true when these environmental values, conventions and traditions are perceived to be alien, opposing or hostile to their own (Kuh, Brideges, Hayek, 2006). Class and classism related factors such as social isolation, lack of culturally accepted and academic skills, and lack of support often result in withdrawal from college. Kathle en Cushman (2007), in â€Å"Facing the Culture Shock of College,† notes that many first generation

God Is The Creator And Savior Of All - 986 Words

We, as one body of Christ, were made in the image of God. God is the creator and savior of all. He is very loving and caring to all his creations. I believe that we, the people, were created due to his endless and overwhelming love. Because of that, we were called to be God’s disciple and to be more like him in every way. And so, this leads to being a Christ-like Character. What does it mean? What does it mean to be a person like Christ? Someone who exemplifies Christ-like character means that people can look at that person and feel God’s presence in him or her. A Christ-like character means to be like God himself. 1 Corinthians 1:1 states â€Å"Paul, called by the will of God to be an apostle of Christ Jesus, and our brother Sosthenes.† My dad, who is currently a Pastor at a Korean Presbyterian church, is an example of this. He is a man of God and a disciple who needs to be shared about. My dad, Kyoung Su Mun, is a devoted man. He is passionate towards what he does and is committed to serving God throughout his entire life. Kyoung is called to serve and preach to others about God’s word and the Gospel. I believe that my dad exemplifies Christ-like character because not only does he try to be more like God, he shows God’s presence to others. He is a very loving and caring man. He helps people go into the right path, which is the path to Jesus Christ. There are many wonderful traits I can talk about to describe my dad, but one of the most important of them is respect. In 1Show MoreRelatedThe Story Of God s Love1405 Words   |  6 Pagesand His immense plan to bring us back in relationship with Him. Before the world existed, only God was there, and He decided to make the entirety of creation, the universe and everything in it. When He spoke He created. He made the sky and filled it with the moon and stars and filled the earth bellow with the most beautiful plants and animals. Yet there was still something missing. So the C reator made a special creation, man, from the dust of the earth and from man’s rib He created woman to beRead MoreEssay on My Religious Belief815 Words   |  4 Pages My Religious Belief I am a Christian and I believe in the Holy trinity: God, the Son, the Holy Spirit. †¢ God is the most high God, all-powerful, all-knowing, the creator, full of unfailing love and truth, God is the only â€Å"true† God. He is the light. †¢ Jesus is the son of God, he is God in the flesh, he came into this world for two purposes, to teach us how to live on earth and because God so loved the world that he gave his only begotten son, Jesus. Jesus died on cross for our sinsRead MoreThe Message Of The Gospel Of Jesus Christ1333 Words   |  6 PagesDesigner, Creator, Giver of life (God). The whole world reflects that there is a God. Romans 1:20 says† For the invisible things of Him from the creator of the world are clearly seen, being understand by the things that are made, even his eternal power and Godhead, so that they are without excuse†. God’s makes it clear that man can see, understand, and is held accountable for the knowledge of Him. They see His works every single day. Yes, there is evidence of the powerful Designer and it is God. He isRead MoreJudaism, Christianity, And Islam875 Words   |  4 Pagesreligions are no different. They are all Monotheistic meaning they believe in one sole higher power or God. Though they share this common idea and many other similarity, they have many distinct features of their own that make them different as a whole. Many past religions have believed in the idea of multiple gods, Polytheism. Judaism, Christianity and Islam believe in one Supreme creator, Monotheism. They believe in the faith of God meaning that God is the supreme creator of the universe and everythingRead MoreWhat Does It Mean You Live A Life Of Meaning And Purpose? Essay1366 Words   |  6 Pagescommon idea has remained the same, have faith in God. For a human to live a life of meaning and purpose he must understand the truths of the natural world and the differences between what is good and evil. Jesus set an example for humans in his stories written by Matthew by displaying the ultimate faith in God and showing what they faith can do onto the people. Even when that faith is tested when Jesus is summoned to be put to death, he believes our God will not leave him on that cross forever. By spreadingRead MoreI Am A Believer And A Preacher Of The Gospel Message. The1562 Words   |  7 Pagesare the words of God given to mere men to record whereby humankind would have the opportunity to read and hear the truth so they can be reconciled to God through His son Jesus Christ. We are to live with Jesus Christ the Son of God as our model and be guided by the third figure in the Trinity, the Holy Spirit. In this essay I will share what I believe to be true about the key components of the Gospel and the need of humankind to hear and believe this message by faith. God God is the first personRead MoreAppendix H Monotheistic Religions739 Words   |  3 Pagesson Isaac at God’s demand. * God commanded Abraham to discontinue this sacrifice because he had proven his fear of God, and this took place just before the sacrifice. * King David * Fall of Jerusalem * Holocaust | * Birth of Jesus Christ * Jesus Christ, known to be the son of God and the savior of humanity, was viewed as a political threat to the Roman Empire. * Crucifixion of Jesus | * Muhammad is known as the prophet of God. He becomes The Prophet at age 40.Read MoreWho Is God And Do We Need Him?1316 Words   |  6 PagesWho Is God Do We Need Him? It was Bhartrhari that once said, â€Å"Our life is like the unstable wave, Our bloom of youth decays. Our joys are brief as lightning flash n summer s cloudy days, Our riches fleet as swift as thought; Faith in the One Supreme Alone will bear us o er the gulfs Of Being s stormy stream.† Though Bhartrhari presents to us a great truth, it also leaves the reader with a question. This question is simply, who is the â€Å"One Supreme Alone† that this author speaks of? Who isRead MoreSimilarities Between Christianity And Islam1332 Words   |  6 Pagesthere are many similarities in beliefs. Although the followers of Judaism, Christianity, and Islam may see things differently, they all fundamentally hold the same values and codes. To Islam, the Prophet Mohammad’s teaching is a complete and final revelation. On the other hand, according to the bible, Christianity believes that Jesus Christ is the true lord and savior that will grant you the access to heaven in the af terlife. Judaism is founded by Abraham and it is the base from which both of theRead MoreSalvation : Truth Or Myth?919 Words   |  4 PagesSalvation: Truth or Myth Without belief in God the Savior it is not possible to have salvation from the grips of death. God promises eternal life if we accept Him as our Lord and Savior. There are those who believe in idols as gods and give sacrifices to those gods to be spared from the wrath of those gods. Also there are those who believe in scientific evidence alone without a creator or savior. Two authors who write about religion are Langston Hughes short story â€Å"Salvation, and Margaret Mead, â€Å"New

Accounting in the Profession for Retail Industry- myassignmenthelp

Question: Discuss about theAccounting in the Profession for Retail Industry. Answer: Introduction In Australia, there are almost 140000 players in retail industry. The retail industry is full of competitive challenges. The challenge of online retailing is the latest one. The growth of retail business in Australia is dependent upon the growth of the economy. Retailers are required to operate under various regulatory constraints so these constraints limit the ability of retailers to innovate and achieve competitive advantage. As per the estimation of Australian competition and consumer commission, the online retail business owes 6% of Australian retail industry. The retail companies operate in a broad environment. The macro environment includes the technological, economic, political and social influence on the retail business and a retail company is required to expand these influences to compete within the retail industry. The policies of government increase the cost for retailers. Woolworths limited and Wesfarmers limited are the major players of Australian retail industry. There are a number of challenges that are being faced by the retail industry. Corporate governance is the rules and processes by which the company is being carried on. The challenges include brand reputation, corporate governance, globalization, and customer relationship management, and risk management, effectiveness of market, technological changes, value creation, corporate social responsibility and supply chain management. Retail industry is facing the issue of auditing. The retail companies are facing strong competition so the companies are required to control the cost of production and the existing auditing practices are becoming outdated. The companies dealing in retail industry are required to update the auditing practices with the changes in the competition of retail industry. The retail industry is also facing the economic challenge. Retail industry is being affected by the economic changes. For example: if the economy is developing then it will increase the purchasing power of t he people and ultimately the retail industry of the economy grows. Technology is another issue faced by retail industry. The companies operating in retail industry are required to be updated as per the technology. The accounting records of the retail business are to be maintained electronically so the companies are required to use latest software and systems to make the accounting records more accurate and reliable. The retail industry involves many distribution channels which can be a big issue. The increase in the number of distribution channels will ultimately increase the cost of a product and hence, either increases the selling price or reduces the profit margin. Every intermediary will add his share of commission to the cost of the product. But if the retail businesses are planning to achieve competitive advantage then the companies are required to minimize the selling price which can only be done by minimizing the cost of production. Achieving the brand image is easier than m aintaining such brand image. Woolworths and Wesfarmers have already achieved a brand image and are considered as a leader of retail industry. Now, the challenge in front of both the companies is to maintain that position of major players of retail industry (Sewell, et al., 2017). Responses to the Case Questions Delaying Suppliers payment: Cash flow position of a company is linked with the time between when the debtors pay to company and when the company is paying to creditors. As a Chief financial officer, I will prefer to delay the payment to supplier if there is a delay on the part of customers. The CFO of a company is responsible to make a balance between the time taken by the company to pay to its suppliers and the time taken to be paid by the customers. If the supplier already given a time like 30 days period then as a CFO, I will not prefer to prepay the supplier (Price,2016). When the customers are delaying in the payment then in such case the company is required to delay the payment to suppliers. This can be done on the part of the company to shorten the time period between when the company have to pay its sues and when the customers are paying to the company. By the delay of payment, the company is also able to earn interest on such payment. The CFOs main task is the movement of ca sh. The CFO can only release payment when it will receive payment from customers. The companies are not having enough cash that they will make payment to the suppliers even when the customers are delaying the payment. This will mismanage the cash flow of the company. Integrated reporting: Integrated reporting means integrating the organizational planning, strategy and resources for the creation of value for a long period of time. Integrated reporting is used to achieve the vision of the company. Integrated reporting affects the performance system as IR helps the organization in developing a structure which is dynamic and can change as per the changes in external environment. IR integrates the resources of the organization with the objectives and hence affects the performance system. Integration reporting is concerned with the performance of the company and remuneration is linked with the performance of the people working within the company (Bandara, et al., 2017). Some of the employ ees show their performance on the basis of remuneration given to them. Integrated reporting changes the remuneration design in order to achieve superior performance.At risk component: At risk component is that part of remuneration which is variable or which is at the risk of not being paid by the company. At risk component is that portion of the remuneration which can be paid on certain conditions related to employment. At risk component is a larger component of total remuneration because in case of Woolworths, the fixed pay of CEO is only 44% and long-term and short-term incentive pay is 56%. In this way, at risk component is more than fixed pay. Short term incentive pay can be paid as a bonus and long-term incentive pay can be paid by the issuing of shares. Like this both the incentives are based on certain employment conditions. This is the reason that at risk component is a critical part of total remuneration of CEO and senior management. Any person who is having some interest i n the company is known as the stakeholder of the company. Stakeholders: Stakeholders are the people either within the company or outside the company connected with the operations of the company. Stakeholders are the people who are responsible for the achievement of the overall objective of the company. There are two types of stakeholders i.e. internal stakeholders and external stakeholders. Both the stakeholders affect the company because the company is totally dependent upon these stakeholders. Internal stakeholders are the people who are having direct link with the company and the external stakeholders are the people who are not directly linked with the company but these people affect the company. The internal stakeholders of large supermarket company include employees, managers, directors, adjudicators, etc. These stakeholders work within the organization. The external stakeholders include shareholders, investors, creditors, suppliers, government, customers, auditors, competitors , wholesalers and retailers (White, et al., 2017). These are the people who work outside the organization but have a significant effect on the company. Aim of Wesfarmers to sustain rather than making profit: The target of Wesfarmers is to achieve sustainability for long term rather than making profit in short term. The short-term profit always shows unethical or illegal working of a company because a company is not able to earn profit in a short run by ethical principles. The culture of Wesfarmers is to grow and sustain for a long period of time. Wesfarmers is not merely focusing on making profit. When a company is running with the objective of making profit only then it takes the company towards unethical activities because the company is planning to earn money. Wesfarmers is one of the largest retailing company of Australia and the company has achieved this brand image with the help of its ethical culture (Simes and Sebastiani, 2017). The aim of profit cannot take the company towards long run sustainability because the company will reduce the quality of product to gain profit and quality is an important component of sustainability . Product mix decision: It is the responsibility of the accountant to take decisions regarding the buying of stock based on the risk attached with a particular share. The decision related to the purchase of shares should be made according to the risk bearing capacity and the price fluctuations of shares. Customers demand is not a perspective related to the purchase of shares. The accountant is required to prepare a product mix based on the rebate attached to the shares. The performance of the company is attached with the changes in the prices of shares and the rebate linked with the shares. The investment made by the company in the acquisition of stock will affect the overall performance of the company. So, the company is required to make decision as per its purchasing power not as per the demand of consumers. Before making decision about the purchase of shares, the management is required to consider its purchasing power parity and the risk associated with each share. The management sh ould not rely on a single share instead of relying on single share; the management is advised to prepare a product mix of stock. The product mix decision will help the company to bear the loss in one stock by the gain of other stock. Ethical organization: An organization is said to be ethical if it relies on both financial and non-financial measures. The non-financial measures are equally important for the companies. Financial measures only determine the performance of accounting records but non-financial measures cover the performance of all the other aspects of the company (Delgado-Tllez, et al., 2017). Non-financial measures include quality check, employee satisfaction, customer service and public relations. Suitable measure to determine performance: TSR stands for total shareholders return. This measure only measures the performance of the shares of the company. Total shareholders return determines a difference between the increase in the prices of shares and the dividend paid to shareholders to find out the total return to the shareholders.TSR measure is not suitable for the measurement of overall performance of the company because this measure only focuses on the performance of the company based on the prices of shares but this method will not consider all the other factors which contributes towards the performance of the company. As a CFO of a company, I will prefer a balanced set of measure which will consider all the factors and measures the performance of the company in a balanced manner. If I was a junior accounting officer rather than CFO then also the decision will be same. Because as a junior accountant, I was also contributing towards the performance of the company and if the company will use a measure which is only considering the return to shareholders then that will be unfavorable to all the other stakeholders of the company. Is ethical decision differing from audit: The ethical behavior of a company is very significant for dealing with their stakeholders. If the company involve in the unethical behavior then it will force the government to interfere in the operations of the company. The companies which are operating legally always rely on ethical decision-making. Ethical decision-making helps in making the audit process easier. The internal as well as external audit is performed to identify whether any mis happening taking place in the company is. To avoid the chances of fraud and misstatement in the financial records, every company is suggested to make the decisions ethically (Tan, et al., 2016). The auditors sometimes rely on the statements given by the managers and employees. In this situation, the audit and the ethical decisions differ. How Balance scorecard framework leads to resolving ethical and sustainability issues: Balance scorecard is a performance measurement tool which helps the organization to improve the performance of various functions within the organization. Balance scorecard determines the actual situation of the company and provides guidelines for further improvement. Balance scorecard is classified into four areas. Balance scorecard determines the performance of the company by considering four major perspectives (Maniora, 2017).This is the reason that this measure is known as balance measure because it takes into account all the material components of the company. The four perspectives include customer perspective, internal process perspective, learning and growth perspective and financial perspective. The components related with customer perspective include time, cost, service and quality. The company is required to serve its customers with a quality product and the price should be reasonable, time ly delivery and smooth service of such product to the customer which includes after sale service also. Internal process perspective majorly covers the whole internal organization. It includes human resources, production, structure of the organization etc. Learning and growth perspective focuses on the learning, turnover and job satisfaction of employees. This perspective is basically related with employees. Financial perspective is linked with the cash flow statement, profit and loss account, and return on investment and return on capital employed. Balance scorecard is used by the companies to achieve sustainability. Sustainability can be achieved if the organization focuses on the overall improvement of the company. With the help of balanced scorecard, a company can be in touch with every department. A company cannot achieve sustainability be focusing on the performance of one or two department rather the company is required to improve all the departments (Campbell and Price, 2016) . Balance scorecard is the one and only measure which is focusing four perspectives together. In this way, balanced scorecard eliminates the issue of sustainability form the company. Balanced scorecard not only focuses on enhancing the performance of the company but it also focuses on the ethical issues of the company. Balanced scorecard suggests the company to adopt corporate social responsibility within its culture. Corporate social responsibility means the company is required to take care of the people living in the society because these people are the customers and ultimately reason behind the profit of the organization. If the organization will follow the policy of corporate social responsibility then it helps the company to avoid the ethical issues. This is how; balanced scorecard helps the company in removing sustainability and ethical constraints. Conclusion After proper analyzing the case, some solutions are derived for the various issues faced by the companies dealing in retail business. The retailers are facing the issue of how they can achieve competitive advantage. The retailer can achieve the competitive advantage by reducing the cost of production. The competition in the retail industry is high and one can differentiate itself by providing goods at reasonable cost. For the issue of lag in suppliers payment then in such situation the company is advised to delay the payment but only to maintain the balance between the time when the company should pay and the time when the company is being paid off. For another issue of performance measurement tool, the company should use a tool which will measure the overall performance of the company. Balanced scorecard is recommended to the company because this will measure the performance by considering four perspectives of the company and it will also help to resolve the issue of sustainability and ethics. For the declining performance issue, the management of the company is suggested to design a product mix as per the rebate on each stock rather than considering the demand of consumers. The companies can tackle with the issue of delaying the payment of suppliers by pre-deciding a specified time which can be of 30 days or 45 days within which the company will receive the payment from its customers and transfer such money to its suppliers to avoid any legal action by ACCC (de Villiers and Sharma, 2017).For the issue of ethical operating of the companies, the companies are suggested to focus on non-financial measures rather than financial measures because the non-financial measures will determine the customer relationship management and supply chain management. Customer relationship management involves the dealing of the business with its customers. These both are the critical aspects of retail industry and if the company can improve the performance of these two aspects then it will take the company towards long-term sustainability. Sustainability can be achieved if the company has a huge customer base and the retail business is all about increasing the customers through innovation. References Bandara, S., Bandara, S., Leckie, C., Leckie, C., Lobo, A., Lobo, A., Hewege, C. and Hewege, C. (2017) Power and relationship quality in supply chains: The case of the Australian organic fruit and vegetable industry, Asia Pacific Journal of Marketing and Logistics, 29(3), pp.501-518. Campbell, I. and Price, R. (2016) Precarious work and precarious workers: Towards an improved conceptualization, The Economic and Labour Relations Review, 27(3), pp.314-332. De Villiers, C. and Sharma, U. (2017) A critical reflection on the future of financial, intellectual capital, sustainability and integrated reporting, Critical Perspectives on Accounting. Delgado-Tllez, M., de Cos, P.H., Hurtado, S. and Prez, J.J. (2017) THE MACROECONOMIC IMPACT OF DELAYED GOVERNMENT PAYMENTS: A CASE STUDY, Public Finance Management, 17(2). Maniora, J. (2017) Is integrated reporting really the superior mechanism for the integration of ethics into the core business model? An empirical analysis, Journal of Business Ethics, 140(4), pp.755-786. Price, R. (2016) Controlling routine front line service workers: an Australian retail supermarket case, Work, employment and society, 30(6), pp.915-931. Sewell, W., Mason, R.B. and Venter, P. (2017) Socio-economic developmental strategies as retail performance indicators: A balanced scorecard approach, Development Southern Africa, 34(3), pp.365-382. Simes, C. and Sebastiani, R. (2017) The nature of the relationship between corporate identity and corporate sustainability: Evidence from the retail industry, Business Ethics Quarterly, 27(3), pp.423-453. Tan, P.J., Tan, P.J., Bogomolova, S. and Bogomolova, S. (2016) A descriptive analysis of consumers price promotion literacy skills, International Journal of Retail Distribution Management, 44(12), pp.1223-1244. White, C.L., Nielsen, A.E. and Valentini, C. (2017) CSR research in the apparel industry: A quantitative and qualitative review of existing literature, Corporate Social Responsibility and Environmental Management.

Decentralized Blockchain Technology and Cryptographia Free Samples

Question: Discuss about the Decentralized Blockchain Technology and Cryptographia. Answer: Introduction: The blockchains refer to the global distribution ledger. The main function of blockchains is to facilitate the movement of various assets across the whole world in the fraction of seconds. This total process takes a minimum transaction fee. The value of the assets can be anything. However, the major condition is that the transferable assets must be represented digitally. In the case of blockchains, another major concept is Bitcoin. The technology of blockchains is applicable to all the digital assets transition exchanged on the online basis (Wright and De Filippi 2015). Internet commerce has tie up with the financial institutions as it works as the trusted third party that processes and mediates the electronic transactions. The major role of a trusted third party is to validate, safeguard and preserve various kinds of internet-based transactions. It can be seen that one cannot avoid a certain percentage of fraud in the process of online transactions. This aspect of fraud needs the pr ocess of meditation in case of the financial transactions. As a result, high transaction costs are incurred (Pilkington 2015). At the time of the execution of any transaction over internet, bitcoin applies the process of cryptographic proof between two willing parties. In the process of blockchains, all the transactions are protected with a digital signature. With the help of the private key, each transaction is sent to the public key of the receiver (Crosby et al. 2016). The owner of the crypto currency needs to provide the proof of his/her ownership of the private key at the time of spending money with the help of blockchains. With the help of this process, the owner gets the currency in the digital form that verified with the digital signature. Bitcoin has the broadcast of each of this kind of transaction and all the transactions are recorded in the public ledger after the process of verification. It can be seen that the process of blockchains works in five specific processes (Herbert and Litchfield 2015). It is necessary to discuss these five steps or processes to know the functioning process of blockcha ins. They are as follows: As per the above discussion, it can be seen that there are five steps or processes in a blockchain transactions. Each steps are described below: Step 1: Transaction Definition: In this particular process, the sender develops a transaction and the transaction is transmitted with the assistance of network. In the transaction message, certain details of the transaction are recorded; they are the receivers public address details, the transaction value and a cryptographic digital signature that works as the prove of the authenticity of the transaction (Mainelli and Smith 2015). Step 2: Transaction Authentication: In this process, the generated nodes of the network receives the message and after that, the authenticity of the validity of the message is tested with the help of digital signature. Now, the authenticated transaction is taken to the pending transactions. Step 3: Creation of Block: In this particular process, an updated version of the ledger receives all these pending transactions and this is called a block in one of the networks. These nodes broadcasts the blocks to the networks for validation at a specific interval (Peters and Panayi 2016). Step 4: Validation of Block: This process is one of the important processes in blockchains. In this process, the network validator nodes receive the proposed block and with the help of an interactive process, they work to validate the transactions. It has been seen that different blockchain networks adopt different kind of validation techniques. The blockchain of Bitcoin uses the validations technique of proof-of-work, the blockchain of Ripple uses the validation technique of Disturbed Consensus, the blockchain of Ethereum uses the validation technique of proof-of-stake and many others. Different validation techniques have their own advantages and disadvantages. However, the main objective of all the validation techniques is to ensure the validity of the transaction and to make the process of fraudulent in blockchain impossible (Ali et al. 2014). Step 5: Block Chaining: In case all the transactions are validated, all the new blocks are chained into the process of blockchai. After this process, the network gets the broadcast of the net current state of the ledger. The total process of the above-discussed five steps takes 3-10 seconds to be completed. In this way the whole process of blockchain works (Mattila 2016). The above discussion shows the total process of the work of blockchain. From the above analysis, it can be understood that the blockchain technology has some major advantages. However, this technology also has some major disadvantages. The major advantages and disadvantages of the blockchain technology to settle transactions are discussed below: The advantages of blockchain method are discussed below: Disintermediation Trustless Exchange: One of the major advantages of blockchain method is the absence of any kind of third parties in the process of transaction. In the process of blockchain, two parties are able to make an exchange in the absence of any third parties or intermediaries. This aspect is helpful in the process of reducing the counterparty risk (Klinc et al. 2012). Empowerment of the Users: In the process of blockchain transactions, the users have absolute control over all the necessary information and transactions. This aspect is helpful in the process of empowerment of the users (Andreeva et al. 2013). High Quality Data: In the process of blockchain, the used data are consistent, complete, accurate, timely and they are widely available. The users can easily obtain the important data of the transactions. Hence, blockchain helps to maintain the high quality of the data in the transactions (Klinc et al. 2012). Durability, Reliability and Longevity: Due to the presence of the strong decentralized network, any central point of failure cannot be seen in the method of blockchain. This process helps blockchain to valid the malicious virus attacks (Andreeva et al. 2013). Integration in the Process: In the process of blockchain, the users are ensured that the total process of blockchain will be executed according to the exact protocol commands without the needs for any their party or intermediaries. This process makes blockchain integrated (Klinc et al. 2012). Transparent and Immutable: All the parties involved in the process of blockchain can see all the changes made in the method of blockchain. This process increases the transparency of the total process. In addition, all the transactions are immutable, as they cannot be deleted (Andreeva et al. 2013). Simplification of the Ecosystem: In the process of blockchain, all the transactions are added to a single public ledger. This process reduces the clutter and the multiple ledger complications. Faster Transactions: While the process of interbank transactions can take days to be cleared, the process of blockchain takes minutes to be completed and they work for 24/7 (Klinc et al. 2012). Lower Transaction Costs: As there is not any presence of third party or intermediaries and overhead costs, the total process of blockchain takes lower transaction costs (Andreeva et al. 2013). The disadvantages of the process of blockchain are discussed below: Nascent technology: Some of the major areas of blockchain that needs speedy resolve are the speed of the transactions, the process of verification, data limits and others. These factors can be obstacles in the process of blockchain are not resolved on a speedy basis (Padhmavathi et al. 2013). Uncertainty in the Regulatory Status: The method of blockchain faces some major regulatory hurdles regarding the status of the exchanged currencies. The main reason is the regulatory policies of the governments regarding the currencies of the countries (Watanabe et al. 2015). Energy of Large Consumption: The method of blockchain is attempting to resolve 450 thousand trillion solutions per second so that all the transactions are validated. Hence, this process consume a large amount of energy. In the era of resource scarcity, this is a major disadvantage of blockchain method (Padhmavathi et al. 2013). Control, Security and Privacy: Some public security concerns are there in the process of blockchain. This is one of the major disadvantages of blockchain. The general public needs to entrust their personal data and information for blockchain method (Watanabe et al. 2015). Concern of Integration: When the method of blockchain provide solutions to the users, significant amount of changes need to be made in the total process. For this reason, the business organizations need to effectively strategize all of their transactions (Padhmavathi et al. 2013). Cultural Adoption: One of the major aspects of blockchain is the decentralized process of the network that demands the buy in of the operators and the users. In this case, culture is a crucial aspect (Watanabe et al. 2015). Initial Cost: Although the method of blockchain offers a high amount of cost saving, the initial cost to set up a blockchain method is very costly (Padhmavathi et al. 2013). According to the above analysis, it can be seen that the method of blockchain has many advantages along with many disadvantages. From the current scenario, it can be observed that the equity market along with the economy is dependent on the process of blockchain. Hence, it can surely be said that there are certain areas or scenarios that will be largely affected by the disruption of the technology of blockchain. One of the major factors that will be disrupted with the technology of blockchain will be the banking sector. It can be said that the banking sector is largely depends on the blockchain as most of the banking transactions are done with the help of blockchain methods. The process of blockchain is providing a large opportunity to the banking sectors to change its various operations along with the change in the current business model (Trautman 2016). It can be seen that the bankers all over the world hail the inclusion of the blockchain technology. Most of the banker all over the world is considering the fact that the blockchain technology is one of the major factors to diminish the presence of the intermediaries or third parties in the process of banking transactions; this process will be a useful tool to bring transparency in the total process. Thus, it can be said that the disruption in the blockchain technology will affect the banking industry on a large basis. Another major area that will be affected is the financial business sector. It can be seen that the inclusion of the blockchain method is a helpful tool to massively change the business models of the financial sector. Now-a-days, most of the transactions of the financial transactions are done with the help of the blockchain method. Hence, the disruption in this technology will affect the financial sectors. Another major sector that will be affected with the disruption o f blockchain is the share market as most of the transactions of the share market is done with the help of blockchain (Ammous 2016). As per the current announcement of Australian Securities Exchange (ASX), the new method of blockchain is going to replace the Australian Securities Exchange's CHESS clearing and settlement system. From the above statement, it can be understood that ASX is considering the adoption of blockchain over CHESS method. It can be said that this is a good and effective decision as the blockchain method has many advantages. In Australia, there are many banks that have been connected to the global banks for bringing innovation in the process of banking. For this reason, blockchain is an optimal method as this process is full of innovation. With the help of the method of blockchain, the banks will be able to transfer the funds with lower amount of costs and in this process; they do not have to rely on the central banks (Fanning and Centers 2016). There are numerous reasons that support the method of blockchain over the CHESS method. On the other hand, some of the major drawbacks are there in the CHESS method. In the process of CHESS method, the intermediaries play a crucial part and this reason contributes to the increase in the cost of the transactions. In addition, security issues regarding the data and information is another major concern of the CHESS method, as the users cannot fully rely on this method. All these aspects prove the superiority of the blockchain method over the CHESS method. Hence, it can be conclude that the process of blockchain method is better than the process of CHESS. References Ali, R., Barrdear, J., Clews, R. and Southgate, J., 2014. Innovations in payment technologies and the emergence of digital currencies. Ammous, S.H., 2016. Blockchain Technology: What is it good for?.Browser Download This Paper. Andreeva, E., Bogdanov, A., Luykx, A., Mennink, B., Tischhauser, E. and Yasuda, K., 2013, December. Parallelizable and authenticated online ciphers. InInternational Conference on the Theory and Application of Cryptology and Information Security(pp. 424-443). Springer Berlin Heidelberg. Atzori, M., 2015. Blockchain technology and decentralized governance: Is the state still necessary?. Crosby, M., Pattanayak, P., Verma, S. and Kalyanaraman, V., 2016. Blockchain technology: Beyond bitcoin.Applied Innovation,2, pp.6-10. Fanning, K. and Centers, D.P., 2016. Blockchain and its coming impact on financial services.Journal of Corporate Accounting Finance,27(5), pp.53-57. Herbert, J. and Litchfield, A., 2015, January. A Novel Method for Decentralised Peer-to-Peer Software License Validation Using Cryptocurrency Blockchain Technology. InProceedings of the 38th Australasian Computer Science Conference (ACSC 2015)(Vol. 27, p. 30). Klinc, D., Hazay, C., Jagmohan, A., Krawczyk, H. and Rabin, T., 2012. On compression of data encrypted with block ciphers.IEEE transactions on information theory,58(11), pp.6989-7001. Mainelli, M. and Smith, M., 2015. Sharing ledgers for sharing economies: an exploration of mutual distributed ledgers (aka blockchain technology).The Journal of Financial Perspectives,3(3), pp.38-69. Mattila, J., 2016. The Blockchain Phenomenon.):Book The Blockchain Phenomenon(Berkeley Roundtable of the International Economy, 2016, edn.). Padhmavathi, B., Ray, A., Anjum, A. and Bhat, S., 2013, January. Improvement of CBC encryption technique by using the Merkle-Hellman Knapsack Cryptosystem. InIntelligent Systems and Control (ISCO), 2013 7th International Conference on(pp. 340-344). IEEE. Peters, G.W. and Panayi, E., 2016. Understanding Modern Banking Ledgers through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money. InBanking Beyond Banks and Money(pp. 239-278). Springer International Publishing. Pilkington, M., 2015. Blockchain technology: principles and applications.Browser Download This Paper. Trautman, L.J., 2016. Is Disruptive Blockchain Technology the Future of Financial Services?. Watanabe, H., Fujimura, S., Nakadaira, A., Miyazaki, Y., Akutsu, A. and Kishigami, J.J., 2015, October. Blockchain contract: A complete consensus using blockchain. InConsumer Electronics (GCCE), 2015 IEEE 4th Global Conference on(pp. 577-578). IEEE. Wright, A. and De Filippi, P., 2015. Decentralized blockchain technology and the rise of lex cryptographia.