Advantages and Disadvantages of Franchising

Advantages and Disadvantages of Franchising Franchising Franchising is arrangement where one party (the franchiser) grants another party (the franchisee) the right to use trade-name as well as certain business systems and processes, to produce and market good or service according to certain specification. The franchisee usually pays a one-time franchise-fee plus a percentage of sales revenueas royalty, and gains immediate name cognition, tried and tested products, standard building and decor,detailed technique in running and promoting the business, training of employees, and ongoing help in promoting and upgrading of the products. The franchiser gains rapid expansion of business and earningsat minimum capital-outlay. Feature of the franchise is that each buyer undertakes to fulfill the various conditions and requirements of the seller (franchiser), related to the production and sale of goods and the provision of related services to consumers. Thus, in the world market there are groups of companies united in a single system un der the auspices of a major international corporation. Its partners in the contract the franchisor provides advice on corporate location, selects equipment, helps in training, advice on management, and may also provide financial assistance. All this facilitates the standardization and unification of products and services of the companies included in the system of franchising provides unity on market events, style and design, the quality of goods and services sold the centralization of procurement related savings (and the additional benefit to the franchisor). Advantages of franchising mode are following (Kotler, 2002, p. 377): Rapid expansion of sales markets, the increase in sales volume and the territorial expansion of the business Absence of the cost of the vertically-integrated network management (reduction of personnel costs) A lower level of own capital investment Lift the prestige of the company and its trademark, recognition from the customers, increased confidence i n the quality and range of products a single company Income from the sale of the license and renting real estate franchise and equipment Profit from lending opportunities franchisees and reducing the time of turnover. Disadvantages of franchising mode are following (Kotler, 2002, p. 377): The likelihood of a smaller part of the profits from the franchise business than on their own Low reputation of one of the franchises in the absence of proper quality control can affect the reputation of the firm; Difficulty in controlling the reliability of financial reporting franchisee The franchisor is preparing a possible competitor in the face of franchisee company Joint ventures Joint ventures are often created for access to foreign markets, company’s decision to team up with their foreign partner, sharing ownership and control over the activities of the company. In world practice, there are many examples of well-known association of firms and corporations to tap new m arkets and gain competitive advantage. Creation of a joint venture may be the preferred method of access to foreign markets for the following reasons: 1. If the company lacks the financial, technological, managerial and other resources for self-development in foreign markets 2. If the government does not admit to its market foreign companies or subsidiaries without the participation of local capital for some political or economic reasons; 3. When the company, for economic reasons, team up with a foreign company for the joint production, the sale of which will provide the company higher profits due to the low cost of use of local resources (labor, raw materials, etc.)

Biometric Authentication Essay Example | Topics and Well Written Essays - 1750 words

Biometric Authentication - Essay Example This kind of authentication is what is referred to as biometric authentication. The security of a nation is very sensitive and therefore military bases and locations of security valuables need to be under 24 hour surveillance to ensure that there is no breaching in the perimeter. Ministries of defense in various developed countries have therefore employed biometric authentication in their military bases to restrict access to only authorized personnel and not just anyone. This paper will be assessing biometric authentication in the context of Ministry of Defense and its necessities, alternatives, weaknesses and strengths among other pertinent issues. Why is a dedicated biometric "solution" needed? Briefly and critically review leading edge approaches to role based authentication. What alternative solution(s) are applicable to this context of use? Provide their distinction(s) to rule-based authentication mechanisms. The biometrics technology does not go without fault as it has been ter med as both a promising and disruptive technology. The inapplicability of the current authentication services deem a dedicated biometric solution extremely necessary. ... It should also be unique to a particular person. Another important factor is permanence. This is in relation to the manner in which the biometric changes over time. Role-based access control is a concept of two extremes. At one end, it is simple while the other end is characterized by sophistication. According to the NIST model (Ferraiolo et.al, 2007), there are four sequential approaches to role based authentication. The sequence is arranged in terms of increasing functional capabilities. The first is the flat role-based access control. It embodies the essential aspects of role based access control. According to this approach, permissions and users are assigned to roles and therefore for a user to gain permission, it is necessary for them to be part of a role. It is however key to note that many roles can be assigned to one user while one role can be assigned to many users. The second is hierarchical role based access control. This level adds a requirement which supports the hierarc hy in that the senior staff gains permission of the juniors. This approach has two levels. The first level is general hierarchical role-based authentication. In this case, there is support for an arbitrary partial order to serve as the role hierarchy. In the second level, restrictions may be imposed in the role hierarchy by the system and this level is referred to as restricted hierarchical role-based authentication. The third approach is constrained RBAC. Separation of duties, a technique that existed before the computer to reduce the possibility of fraud and accidental damage, is added as a requirement in this approach. There are two ways in which separation of duties can be implicated and they are static, and dynamic

Hinduism Paper Essay Example | Topics and Well Written Essays - 750 words

Hinduism Paper - Essay Example Majority of the traditions that define Hinduism abide by a body of sacred text, the Vedas, though a few exceptions exist. At times, people characterize Hinduism by the idea of reincarnation or rebirth, called the samsara. This is governed by karma, and there exists in this religion the concept of liberation from earthly existence and suffering, a sort of salvation from the sequence of recurrent birth and passing away. Most believe in this concept, with a few exceptions and because of this great diversity that it has, Hinduism is sometimes said Hinduisms. Unlike other major living religions, Hinduism is a religion that does not possess a distinct and specific structure of salvation and each different denomination or faction has their own purposes and goals. However it is clear that it allows total and unconditional liberty of principle, faith and devotion. Hindus are free to interpret the basic fundamentality and themes written in the religious texts and scripts. For this very reason, Hinduism is lacking of the conceptions of renunciation of faith, profanation and blasphemy. (Lane, 2005, p.149) According to a book entitled World Religions written by Jefferey Brodd (2003), although Hinduism generally does not follow a singular structure of belief systems, â€Å"prominent themes in Hindu beliefs include (but are not restricted to), Dharma (ethics/duties), Samsara (the continuing cycle of birth, life, death and rebirth), Karma (action and subsequent reaction), Moksha (liberation from samsara), and the various Yogas (paths or practices).† Moksha is a very important concept in Hinduism. It is the counterpart to Buddhism’s concept of Nirvana and is defined as the ultimate disengagement of the spirit from samsara, or the cycle of life and death, and the transporting to a ‘paradise’ where suffering no longer exists. An act of personal completeness called the atma-jnana is the means by which one can obtain moksha. In Hinduism, there are several Vedanta schools, each of which holds their individual interpretation on the idea of moksha, or freedom, that is coherent with their own distinct values and beliefs. Each one has its own identity from each other. However, all schools continue to be consistent to the general comprehending and veneration of Brahman, and maintain to grasp the truths that are written and inscribed in another of Hindu’s religious and sacred text called the Upanishads. Indeed, Hinduism is an extremely diverse religion, open to many interpretations, beliefs and practices. It is undeniable that its roots in India play a big role in the everyday life and culture of the people who reside there. With many other customs, traditions and viewpoints, Hinduism comprises a comprehensive range of edicts and instructions of day-to-day ethics and conducts that are all based on the Hindu traditions and beliefs such as karma and the dharma, among many other social standards. Their lives are governed by Hindu forma l procedures and ceremonies that include weddings, birth and numerous festivals like the Holi Festival and Indian culture is based on many of Hindu traditions and customs that are evident in Indian households and communities. The vast majority of Hindus engage in religious rituals on a daily basis. (Muesse, 2011, p.216) Fervent traditional