Cybercrime Criminal Offence

Sample details Pages: 21 Words: 6262 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Tags: Cyber Security Essay Did you like this example? What is Cybercrime? At this point of time there is no commonly agreed definition of Cybercrime. The area of Cybercrime is very broad and the technical nature of the subject has made extremely difficult for authorities to come up with a precise definition of Cybercrime. The British police have defined Cybercrime as use of any computer network for crime and council of Europe has defined Cybercrime as any criminal offence against or with help of computer network. The two definitions offered by the British police and council of Europe are both very broad and they offer very little insight into the nature of conduct which falls under the defined term. Most of us do a vague idea what Cybercrime means but it seems that it is very to difficult to pinpoint the exact conduct which can be regarded as Cybercrime. Don’t waste time! Our writers will create an original "Cybercrime Criminal Offence | Criminology Dissertations" essay for you Create order For the purposes of the dissertation, I shall attempt to come up with my own definition of Cybercrime; the available definitions do not adequately explain the concept of Cybercrime. In order to understand and provide better insight into nature of Cybercrime, it will be a good idea to divide Cybercrime into two categories because computers can be used in two ways to commit Cybercrime. The first category will include crimes in which the computer was used as tool to commit the offence. The computer has enabled criminals to use the technology to commit crimes such as fraud and copyright privacy. The computer can be exploited just as another technical device which can be exploited, for e.g. a phone can be used to verbally abuse someone or stalk someone, someway the internet can be used to stalk someone or verbally abuse someone. The second category will include offences which are committed with intention of damaging or modifying computers. In this category the target of the crime is the computer itself, offences such as hacking. Whichever categories the offence committed falls in, ultimately it are us the humans who have to suffer the consequences of Cybercrime. Now we know that there are two ways in which the computer can be used to commit offences, my definition of Cybercrime would be: Illegal acts using the computer as instrument to commit an offence, or targeting a computer network to damage or modifying computers for malicious purposes Even my definition cannot be regarded as precise, as pointed earlier that due to the broad and technical nature of Cybercrime, it almost impossible to come up with a precise definition. The term Cybercrime is a social term to describe criminal activities which take place in world of computers; it is not an established term within the criminal law. The fact that there is no legal definition of Cybercrime within criminal law makes the whole area of Cybercrime very complicated for concerned authorities and the general public, it creates confusion such as what constitutes as Cybercrime and if Cybercrime cannot be defined properly how will the victims report the crime? The lack of proper definition means that majority of the Cybercrime which takes place is unreported as the victims and the authorities are not sure whether the conduct is a Cybercrime. It is estimated that 90% of the Cybercrime which occurs is unreported. Types of Cybercrime Computer can be used to commit various crimes, in order to have a better understanding of Cybercrime; we shall look at individually the types of crimes which are committed in the world of computers. It will not possible to describe every type of Cybercrime which exists due to the word limit, we will only concentrate on crimes which are considered to be major threats to our security. First Category Fraud Fraud can be defined as use of deception for direct or indirect financial or monetary gain. The internet can be used as means targeting the victim by replicating real world frauds such as get rich quick schemes which dont exist, emails which demand an additional fee to be paid via credit card to stop loss of service such as internet or banking. The increasing availability of the internet means that fraudsters can carry out fraudulent activities on a grand scale. Fraud is a traditional crime which has existed for centuries and internet is merely a tool by which the fraudsters actions are carried out. Fraud has become a serious threat to e-commerce and other online transactions. Statistics suggest that internet only accounts for 3% of credit card fraud, credit card fraud is one of the more difficult frauds to commit on the internet, however other forms of fraud such as phising are more easier to carry out using the internet and equally lucrative. Phising is a form of fraud which is rapidly increasing. Phising is when you get emails from commercial organizations such your bank and other financial institutions, they would ask you to update your details, emails look genuine and it is a scam to trick people on giving their details. There are no official figures available on phishing scams but on average I receive about three emails everyday asking me to update my bank account details. Recently there was email going around asking the staff members and students of LSBU to update their personal details, the email looked genuine but the ICT staff informed students/staff to ignore as it was a trick to gain personal information. Since the advancement of technology, it is has become easier and cheaper to communicate and fraudsters are also taking advantage of technology because it is easier to exploit the internet and it is cheaper than other alternatives such as phone and postal mail. There are other forms of fraud such as auction fraud, it is when buy goods in auction and you pay for the item but your item will never turn up. Fraud is one of the lucrative crimes on the internet; experts suggest that it is more than trafficking drugs. The reasons why fraudsters prefer internet is because: Internet has made mass communication easy and it is cheap, same email can be sent to millions of people very easily and cheaply with just one click of button. Majority of users do not have adequate knowledge on how technology works, this makes it easy for fraudsters to fool innocent people into taking an action such as giving their personal details. Internet users are considered nave in the sense that they have too much faith in the information they receive via the internet, therefore, they do not take necessary steps to verify the information and often get tricked in handing out their credit card or personal details. Offences against person(s) Offence against a person can either be physical or mental, it is not possible to cause direct physical harm to a person using a computer but it is possible to cause mental harm such as anxiety, distress or psychological harm. It can be done by sending abusive or threatening emails or posting derogatory information online. Stalking is a crime which is done to harass another person repeatedly. As the number of user on the internet increased, the opportunities for abuse have also increased. It is possible to use internet as a tool for sending abusive emails, leaving offensive messages on guestbooks, or posting misinformation on blogs. In some cases, cyberstalkers have morphed images of their victims onto pornographic images and then emailing the pictures to relative and work colleagues to cause embarrassment. There are mainly three reasons for committing a crime such as stalking, Main reason is usually when relationships fail, former intimates usually target their ex-boyfriend/girlfriend to get revenge. Second reason for cyberstalking is boredom; some people usually pick random people and target them by sending them abusive and threatening emails just for fun. Cyberstalkers take advantage of anonymity of the internet to cause distress to their victims life. Hate and racist speech is also a form of crime which escalated since the introduction of the internet; it can cause traumatic experience and mental distress to those who are targeted. Post 9/11, there have been many websites set up to mock the religion Islam, such as www.laughingatislam.com, this website has been cause of distress to many Muslims around the world. Sexual offences This category includes offences which have sexual element, such as making undesired sexual approaches in chat-rooms and paedophiles harrasing children. Child pornography and child protection are one of the main concerns on the internet. Paedophiles are taking full advantage to exploit the technology for viewing and exchanging child pornography. Paedophiles use the internet to their advantage, they use chat rooms and other popular social networks such as facebook to entice and lure children into meeting them. Many popular chat rooms such as MSN Chat and Yahoo chat have closed down their chat rooms to protect young children but closure of popular chat rooms have not stopped paedophiles from using less popular chat rooms and other social networks. Second category Hacking related offences Hacking can be defined as gaining unauthorised access to a computer system. As soon as we hear the word hacking, we tend to think that it is a crime, it should be noted that hacking started of as show of skill to gain temporary access to computer systems. It was rather an intellectual challenge than a criminal motive. But now, many hackers misuse their skills to inflict damage and destruction. Examples of hacking include stealing confident information such credit card details. In a recent incident of hacking, Harriet Harman whose is a politician, taking part in upcoming elections. Her website was hacked and the blog section of her website encouraged the audience to vote for Boris Johnson whose is a competitor of Harman Harriet. Boris Johnson has also complained that his email account was hacked recently. Most politicians believe that internet as a medium will be a major part of election campaigns and activities such as hacking can sabotage election campaigns by posting disinformation on candidates websites. Virus and Other Malicious Programs Virus is a malicious code or program that replicates itself and inserts copies or new versions onto other programs, affecting computer systems. Viruses are designed to modify computer systems without the consent of the owner or operator. Viruses are created to inflict senseless damage to computer system. It is a widely accepted perception that crime is committed in times economic distress. Criminals do not gain any monetary benefit; it is simply done to show off their computer skills. Some viruses are failed programs or accidental releases. The most famous virus which was released is the I LOVE YOU virus or commonly known as the love bug. The virus damaged millions of computers worldwide; it caused damage worth of $8.5bn, the author of the virus claims that it was released to impress his girlfriend. Legislation on Cybercrime It is often believed that the internet is just like the wild west where there no rules and regulations and people are free to carry out illegal activities. Fortunately, this is not true at all; there is legislation which exists to protect us from cybercrimes. Type of crime Legislation Fraud Fraud Act 2006(Covers all types of possible frauds) Offences against person(s) The Public Order Act 1986(Hate speech) Sexual Offences The Protection of children Act 1978 The Criminal Justice Act 1988 The Criminal Justice an Public Order Act 1988 Sexual Offences Act 2003 After carefully reviewing all pieces of legislations mentioned above, I can conclude by saying that legislation we have at the moment is adequate enough to protect us from any sort of traditional crime carried out using computers. There were few anomalies which have been removed now. Anomalies The Theft Act 1968 which previously covered fraud has been replaced by Fraud Act 2006 to cover anomaly under the previous legislation. In the case of Clayman, it was held that it is not unlawful to defraud a computer; the courts do not regard computers as deceivable as the process is fully automated. In theory if we apply the principle deriving from the Clayman case then it will not be unlawful to false credit card number when signing up for an online service such as subscription to a newsgroup or online gaming. There is only exception to this rule that it will not apply if deception involves licensed telecommunications services, such as dial-up chat lines pay-per-view TV. Second anomaly before us was that information was not regarded property. In the case of Oxford v Moss, in this case a student took a copy of forthcoming exam from a lecturers desk and made a photocopy of that exam paper, it was held that the student cannot be charged under the theft act as he did not deprive the owner of the asset, a copy had simply been taken. Computers only contain information, by applying the principle deriving from this case, it means that it is acceptable to print other peoples files as long they do not deprive the owner of the file by deleting it, one would only be prosecuted if he/she steals trade secret or confidential information. Decisions in both cases mentioned above are absurd, both of them were decided in 1970s, the only possible reason for reaching absurd decision could only be lack of knowledge on technology. Previous legislation took into account the consequences of the fraudsters activities when deciding whether the conduct in question is an offence. The Fraud Act 2006 aims to prosecute the fraudsters on the basis of their actual conduct rather than the consequences of their activities. How serious is the threat? In order to determine the seriousness of the threat, it is important to look at the statistics available on cybercrime. Type of crime Number of cases reported Fraud 299,000 Offences against the person 1,944000 Sexual offences 850,238 Computer Misuse(Hacking) 144,500 Virus related incidents 6,000000 Total number of cases reported 9,237738 Source of statistics: Garlik According to the figures, they were approximately 9.23 million incidents of cybercrime reported in the year 2006. Statistics show that 15% of the population of the UK was affected by cybercrime in someway, after looking at these figures; one can easily conclude that we are having an epidemic of cybercrime. These statistics could only the tip of the iceberg of the totality of cybercrime; experts believe that real figure could be 10 times higher as cybercrime is massively under-reported. Reasons for under-reporting Reporting any crime involves a three stage process: The conduct needs to be observed. The conduct needs to categorised as criminal. The relevant authorities need to be informed of the criminal conduct. A particular crime will not be reported if there is failure in any of the stages, therefore the relevant authorities will not take action against the criminal. There are certain factors which affect reporting of cybercrime, factors include: Sometimes the criminal conduct is not noticed, internet fraud usually comprises of low-value transactions across a bulk body of victims, and victims are not always able to spot discrepancy in their bank accounts. Lack of awareness means that the victims may not know whether the conduct in question is a crime. Victims of viruses dont see them as victims of crime, people tend to see viruses as technical issue, and therefore, the victim would believe that no one has broken the law. Most victims dont know which authorities they should contact to report cybercrime. Police officers have inadequate amount of resources and dont have the expertise to deal with cybercrime at the moment, therefore, pursuing a formal complaint can be a difficult process. Once I tried reporting a cybercrime, a laptop was purchased on EBay but the seller took my money and never sent the laptop, this is a common case of auction fraud. I did try to make a complain, the whole process was extremely slow, the officer dealing with me had no clue what EBay is, I was able to register a complaint but it has been two years and my complain is still unresolved. Under-reporting is factor which contributes towards increase in cybercrime, under-reporting mean that criminals will have less fear of getting caught and therefore, they are more likely to commit illegal acts online. Peoples attitude towards cybercrime Traditional crimes such as murder, rape and robbery can have serious effects on the victims life; in some cases the victim may not be able to lead a normal life after being a victim of crime. In contrast to cybercrime, the impact is not that serious, majority of users have insurance against financial frauds, and frauds are usually of low-value. Viruses can easily be filtered using antivirus software. Other offences such as cyberstalking usually cause some anxiety and distress. Only crimes such as child pornography have a greater impact, it is the only the crime which can have a serious consequences on the victims life. A recent survey suggest that only 37% are afraid to use the internet after being a victim of crime, majority of the users do continue to use the internet after being a victim. Cybercrime and e-commerce Cybercrime is a growing concern for all of us, however, the effects of cybercrime are not hindering the growth of the internet, and the effects of cybercrime on the e-commerce have not been drastic. Financial transactions over the internet are on the rise, number of people using internet for shopping is increase day by day and over one third of population is using internet banking. One of the reasons why cybercrime spiraling out of control is the fact that it is very easy to commit if have the technical knowledge, all you need is a computer connected to the internet, the crimes on the internet are hard to detect. It can be committed from anywhere in the world, the criminal could sitting in Africa and targeting his victim in Australia. In the next chapter, we shall examine the problems faced by authorities when investigating cybercrime. Jurisdiction Jurisdictional issues and the cyberspace Cyberspace is a world without defined boundaries; anyone can access any website using his computer. It can very difficult to locate the source of crime in cyberspace because relative anonymity and as easy way to shield identity. Even if the relevant authorities are able to identify the source of crime, it is not always easy to prosecute the criminal. Double criminality When dealing cross border crime, it is imperative that both countries should recognise the conduct as illegal in both jurisdictions. The principle of double criminality prohibits the extradition of a person, if the conduct in question is not recognized as a criminal offence by the country receiving the request for jurisdiction. Imagine a situation where a computer programmer from Zimbabwe sends Barclays bank a virus which causes the computers in Barclays bank to malfunction, the bank cannot carry out their business for 1 hour and as a result they lose about $1 million worth of revenue. English authorities would want to extradite the offender to England so they could prosecute the offender. In an action for extradition, the applicant is required to show that actions of the accused constitute a criminal offence exceeding a minimum level of seriousness in both jurisdictions. Imagine now that they are no laws on spreading viruses in Zimbabwe, therefore it will not possible to show offenders action constitute as criminal behavior. If they are no laws regarding on cybercrime in Zimbabwe then he cannot be extradited and he will walk free after deliberately causing damage to Barclays bank. Cybercrime has an international dimension, it is imperative that legal protection is harmonised internationally. There are still about 33 countries such as Albania, Yugoslavia and Malta; they have no laws on cybercrimes. If there are no laws then those countries are considered as computer crime havens. The perpetrator of I LOVE YOU virus which caused $8.5 billion worth damage was caught in Philippines but he could not be prosecuted as Philippines had no laws on cybercrime. Cybercrime is global issue and the world will need to work together in order to tackle cybercrime. How real world crime dealt across borders? In relation to real world crime which transcended national borders, an idiosyncratic network of Mutual Legal Assistance Treaties(MLATs) bound various countries to assist each other in investigating real world crime, such as drug trafficking. If there was no treaty agreement between two countries then they would contact the relevant authorities to ask for assistance and obtain evidence, this mechanism was sufficient in dealing with real world crime. This mechanism can only work if both countries have similar cybercrime laws; if any country lacks cybercrime laws then the process would fail. How should Jurisdiction be approached in Cybercrime? In a case of cyberstalking, An Australian man was stalking a Canadian Actress. The man harassed the actress by sending unsolicited emails. Australian Supreme Court of Victoria held that crimes committed over the internet knows no borders and State and national boundaries do not concern them, therefore, jurisdiction should not be the issue. He was convicted. This case was straightforward as both nations recognise stalking as a criminal offence, however, there can be conflicts if both nations do not recognize the act as criminal. In Licra v Yahoo, French courts tried to exercise jurisdiction over an American company. Yahoo was accused of Nazi memorabilia contrary to Article R645-1 of the French Criminal Code. Yahoo argued that there are not in breach of Article R645-1 as they were conducting the auction under the jurisdiction of USA and it is not illegal to sell Nazi memorabilia under the American law. In order to prove that Yahoo is subject American jurisdiction, they argued the following points: Yahoo servers are located in US territory. Services of Yahoo are primarily aimed at US citizens. According to the First Amendment to the United States Constitution, freedom of speech and expression is guaranteed and any attempt to enforce judgement which restricts freedom of speech and expression would fail for unconstitutionality. The court ruled that they have full jurisdiction over Yahoo because: The auction was open to worldwide bidders, including France. It is possible to view the auction in France, viewing and displaying Nazi memorabilia causes public nuisance and it is offence to public nuisance under the French law. Yahoo had a customer base in France, the advertisements were in French. Yahoo did have knowledge that French citizens use their site; therefore they should not do anything to offend French citizens. Yahoo ignored the French court ruling and kept saying that they French court does not have the right to exercise jurisdiction over an American company. Yahoo was warned that they would have to pay heavy fines if they dont comply. In the end Yahoo owners did comply with the judgement they had substantial assets in France which were at risk of being confiscated if they dont claim. The sole reason why French courts were able to exercise jurisdiction over Yahoo because it is a multinational company with large presence in France. Imagine instead of France, if the action would have been taken by courts of Saudi Arabia on auctioning playboy magazines, under the Saudi Arabian Sharia law, it is illegal to view or buy pornography. Saudi Arabia court would have failed to exercise jurisdiction over Yahoo as they dont have any presence in Saudi Arabia but it was possible to view Yahoo auctions from Saudi Arabia. The case of Yahoo is a rare example where a court was able to exercise jurisdiction over a foreign company. In majority of the cases concerning individuals, courts trying to exercise jurisdiction over foreign elements are usually ignored. In the case of Nottinghamshire County Council v. Gwatkin (UK), injunctions were issued against many journalists to prevent them from publishing disseminating a leaked report that strongly criticises [the Councils] handling of allegations of satanic abuse of children in the 1980s. Despite the injunctions, a report appeared on an American website. The website refused to respect the English jurisdiction as they argued that the report was a public document. The Nottinghamshire had no option then to drop the case. Cybercrime has an international dimension. International law is complicated area, it can be very difficult to co-operate with authorities if there is no or weak diplomatic ties, for e.g. Pakistan and Israel have no diplomatic ties, if a situation arises where Israeli citizen hacks into State bank of Pakistan steals millions of dollars from the bank, in a situation like this, one easily assume that both countries would not co-operate with each other even though both countries recognise hacking as a offence but they do not have diplomatic ties with each other, most probably the hacker would get away with the crime. A case involving Russian hackers, they hacked into Paypal and stole 53,000 credit card details. Paypal is an American company. The Russian hackers blackmailed Paypal and asked for a substantial amount of money, they threatened they would publish the details of 53,000 credit cards if they do not receive the money. Russia and American both have signed extradition treaty but still Russian authorities failed to take action, it is still not clear why they did not take appropriate action against the Russian hackers. Both nations struggled to gain jurisdiction over each other. FBI decided to take things into their own hands by setting up a secret operation, undercover agents posed as reprenstatives of a bogus security firm Invita. The bogus security firm invited the Russian hackers to US with prospects of employment. When the interview for employment by the bogus firm Invita was being carried out, the Russian hackers were asked to display there hacking skills, one of the hackers accessed his own system in Russia to show off his skills, the FBI recorded every keystroke and later arrested the Russian hackers for multiple offences such as hacking, fraud and extortion. The keystrokes recorded were later used to hack into one of the hackers computer in Russia to access incriminating evidence. All this took place without the knowledge of Russian authorities. When Russian authorities came to know about whole incident, they were furious and argued that US misused their authority and infringing on another sovereign nations jurisdiction. Lack of co-operation in relation to jurisdiction can lead to serious problems between nations, in order to avoid such conflicts, there is need to address the jurisdiction issue and come up with a mechanism which ensures that countries co-operate with each other. Where is the Jurisdiction? In the real world crime, the conduct and the effect of the conduct are easy to pin down because we can visibly see the human carrying out the conduct and the effect of the conduct is also visible. The location of the offence and the location of the perpetrator can easily be identified. Imagine a situation in which a shooter in Canada shots an American across Niagara Falls, it is clear from the example that the conduct took place in Canada and the effect of the conduct took place in Canada. Cyberspace is not real, people say that events on cyberspace occur everywhere and nowhere, a man disseminating a virus could release a virus which travel through servers of many different country before reaching the victim, for e.g. a person makes a racist website targeting Jews in Malta, uploads the website on American servers and the website is available for everyone to see, a Jewish living in Israel comes across the website and gets offended. In a situation like this where would you bring an action, should you bring an action in Malta because the perpetrator is based over there, would bring an action in America where the server is hosted or would bring the action in Israel where the victim is? There are specific laws regarding jurisdiction issues on the internet, the world is still struggling to come up with a solution which would solve the problem of jurisdiction. Positive or Negative Jurisdiction? The principle of negative jurisdiction occurs when no country is willing to exercise jurisdiction for a cybercrime. Cybercrime can have multiple victims in different countries; the love bug caused damage in many different countries including USA, UK, France and Germany. If the damage is caused to multiple countries then who should claim jurisdiction over the cybercrime, should it by prioritised by the amount of damage suffered by each country. If the effected countries decide not to take action against the perpetrator because it is not in their best interest, the country may be occupied by other internal problems. If no country is willing to exercise jurisdiction over a cybercrime then the perpetrator would walk free. Positive jurisdiction is opposite of negative jurisdiction, how will the issue of jurisdiction be decided if more than two countries want to exercise their jurisdiction over the perpetrator, it is a established principle that one cannot be tried in two different courts for the same offence, in a situation like this, the country which have suffered the most damage might be given priority. The area of positive and negative jurisdiction still remains unclear as there no cases or agreements to solve such a problem. Jurisdiction issues such as double criminality, determining jurisdiction and conflicts of positive and negative issues are the most complex issues of cybercrime, unless the issues are resolved, we cannot make any progress in curbing cybercrime. Council of Europe has been working on global governance model to deal with trans-border cybercrime. Council of Europe The Council of Europe began studying the cybercrime twenty years, when computers were first introduced; it was obvious that in the future they will be used to commit crime. After years of research, Council of Europe proposed a convention. The convention on cybercrime The convention on cybercrime is first international treaty on crimes committed using computers. The convention on cybercrime recognises that cybercrime is an international threat and proposes a traditional approach to the problem that the nation whose citizens suffer harm should exercise jurisdiction on the perpetrator. According to section 3 of the convention, it states that in the event of positive jurisdiction, nations should consult with each other to reach the best decision. Section 3 is unclear on positive jurisdiction which can lead to conflicts and slow or no co-operation between nations. I propose that section 3 should be amended and independent committee should be appointed by Council of Europe to decide the best course of action. The convention starts by stating that every member should define certain activities as criminal, and thus achieving international harmonisation and eradicating possible problems of double criminality. The aim of convention is to set up a fast and effective regime of international co-operation; this will be achieved by setting up a 24/7 point of contact for immediate assistance in every country. The convention requires nations to adopt a standard procedure when investigating and prosecuting cybercrime. It requires parties to adopt legislation that is designed to facilitate investigation by: Expediting the preservation and production of electronic evidence. Applying search and seizure law to computer systems. Authorizing law enforcement to collect traffic data and content data. Parties must also co-operate in: Extraditing offenders Sharing information Preserving, accessing, intercepting and disclosing traffic and content data. In simple language, we can interpret the convention on cybercrime is creating massive surveillance network and our civil liberties are under threat. Information can be exchanged between all national governments, is it a good idea to share information of British citizens with the French government?, is it necessary to monitor every internet user to control a very miniroty of cybercriminals. Will convention on cybercrime have any impact on curbing cybercrime? The prospects of success of convention of cybercrime are very low, so far the ratification of the treaty has extremely been a slow process, convention opened for signature and ratification on november 2001 and three year only thirty eight countries signed up, only eight ratified the treaty. The remaining thirty who have signed up are yet to ratify the treaty. There are one and ninty five countries in this world, the convention of cybercrime is open to all countries, only a small minority have signed up yet, how can the convention be a success if only a handful of countries are willing to participate. Internet is available everywhere, even in poorest countries such as Burkino Faso, if someone from Burkino Faso commits cybercrime, he will walk free because Burkino Faso do not have any laws on cybercrime and they are not part of convention on cybercrime. Other Alternatives The Evidence Imagine a man walks into into his local bank with the intention of robbing it. He goes in and uses the most clich dialouge this is a stick up, give me all the money and no one gets hurt, he passes a large sack with a dollar sign on it to the cashier and tells him to fill out up with cash or you will be hurt, the cashier carries out his intructions. The robber runners out of the bank with large bags of money, as soon as he outside, he drives off in BMW car. Whenever a crime is committed, the police is called to investigate and collect evidence so the robber could identified and the evidence should be strong that it should prove the case beyond reasonable doubt. When the police arrives to investigate the robbery, their first strategy will be to collect eyewitness testimony, they would ask questions that how did the robber look like, how tall was he and which car did he getaway in?. The police will have access CCTV footage which help to identify the robber. The second stage would be to collect physical evidence such as fingerprints. The police would also try to trace the car which he was driving, one of the customers in the bank managed to see the number plate of his car and using car registration number, the police is able to catch him, the search his house and are able to retrieve the stolen cash from the bank. The police is succesful in obtaining enough evidence to convict the robber beyond reasonable doubt. After spending 10 years in jail, the robber is released. He is planning another bank robbery but this time he would use a computer to steal the money instead of walking in a bank. He moves to South Africa, goes into a local internet caf and connects to the intenet. To disguise his tracks, he picks up networks with weak security, he hacks into server of university of South Wales, the server of universty of South Wales is operated by public library of Wales. Using the server of University of South Wales, he hacks into the server of public library of Wales and then from there he hack into the same bank which he robbed two years, he logs in, creates a dummy account and transfers the money to offshore bank account which is untraceable. The police again arrives to the same bank to investigate a robbery, the whole crime scene is completely different, there no eye witnesses, no one saw the robber and no physical evidence. The first strategy would be speak to the systems administrator and ask to gather all the information relation to the robbery that may be stored in the computer.After going through all the information, the police is able to find one piece of information which may lead to the robber. They manage to find the IP address, an IP address is the internets equivalent to phone number. The IP address tells them the hacking took place from the Public library of Wales, the police investigate the servers of public library of Wales and they find another IP address which originated from University of South Wales. They then move their investigation to University of South Wales and come to know that hacking took place from South Africa. The investigation moves to South Africa, they manage to track down the internet caf. After speaking to the staff of the internet caf, no one is able to give any clues, the system adminitrator does not keep comprehensive records, therefore it is not possible to gather further evidence against the robber. The robber moves to Canada shortly after carrying out the robbery. After being exhuasted, the police is not able to collect enough evidence against the robber which would prove the crime beyond reasonable. The criminal in this scenario is almost phantom, no one knows who he is and how he looks like. Digital evidence is fragile and not easy to collect because the computers have enchanced the ability cover up tracks. The cybercrime scene create significant forensic challenges for law enforcement agenices when obtaining evidence and subsequently presenting it before the courts. One of the biggest problems is that law enforcement agencies rely on third parties for evidence, in the scenario above, the third parties are University of South Wales and public library of Wales, if any of the third parties fail to keep comprehensive records then investigation will not be possible. There is no other source of collecting evidence, the only other source from which the evidence can come from is the computer which used to hack, most professional hackers destroy their laptops or replace the hardrive after carrying out the attack. The area of digital evidence is very technical and complex and research is still being carried in this area to make the whole process more efficient.

The Definition Of War - 799 Words

Moreover, the researcher finds that many of the PVs derive from the source domain of war. Hillary’s messages are characterized by many metaphorical expressions that rely on the term of the fight. She presents her as a strong-willed warrior who is ready to combat and break all barriers that hinder the progression of his people. Economy, social rights, defending people’s liberties, opportunities, and many other concerns are all represented her battlefield. Accordingly, strength in her progressive worldview means more nurturance and services for all those in need of support. The cognitive-semantic analysis pays attention to the specific lexical items used in the context and how they enhance the political message. The researcher†¦show more content†¦This fact is manifested in the use of CV terms such as (power, strength, and strengthen), as Hillary uses to talk about PVs. This flexibility in the use of words is significant as it echoes Hillary’s repeated ref erence to her framed image of a metaphorical fighter. Thus, the employment of CV-related words enhances Hillary’s nurturant political ideology of rendering strength to be nurturant. The conclusion that comes out of the linguistic investigation confirms the notion that says: if Lakoff’s models are to be applied to the analysis of political discourse, it becomes necessary to adopt a semantic approach because it helps to reveal how political discourse is framed morally by a politician. Since moral values represent the backbone of Lakoff’s models of political morality, it becomes important to indicate the type of values expressed by the political speaker. The worldview embraced by a speaker is confined to the use or absence of the moral values communicated to the voters. However, there is no strict link between Hillary’s moral framing of targeted issues and the selection of certain metaphors. Hence, it becomes obvious that the expression of values is a priori ty that is often evoked by the literal use of language which puts metaphorical expressions in the second row. The researcher finds that all results prove what is initially hypothesized in Chapter one where it is assumed that Hillary Clinton as a Democratic leader reflects an inclinationShow MoreRelatedDefinition Of The Cold War1555 Words   |  7 PagesDefinition of Cold War In my opinion, the definition of the Cold War: was a series of conflicts concerning political, mili-tary, and economics activities between two major political philosophies, represented by the United States along with Western Europe (democracy led) and by the Union of Soviet Socialist Republic, along with Eastern Europe (communist led). Moreover, open hostilities between the US and the USSR never occurred except though each countries client states. 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Liquidity Efficiency and Social Responsibility †MyAssignmenthelp

Question: Discuss about the Liquidity Efficiency and Social Responsibility. Answer: Introduction: Finance is one of the most important resources of the business that allows business to carry out all the operations smoothly and in turn leads to accomplishment of desired goals. Further, it is a well-known fact that effective management of finance in every kind of organization is must as it directly has the positive impact on the overall performance of the enterprise and leads to favorable results(Anwar, Rahmawati, Rismawati, Rukmini, 2016). In the modern era, every type of organization carries out all the operations on wider basis due to which financial requirement is high and satisfying the same allows in the accomplishment of the desired results. The present study carried out is based on ASOS company which is a British online fashion and beauty store. The company offers more than 850 brands in the market which involve clothing and another type of accessories. The present report is based on conducting the ratio analysis of the company for judging financial performance and critica l reflection on the company performance considering the financial reports etc. Profitability 2011 2012 2013 2014 2015 Gross Profit Margin 49.06% 50.91% 51.80% 49.72% 50.14% Operating profit Margin 4.68% 6.30% 7.08% 4.78% 4.58% Return on capital employed (ROCE) 18.68% 27.37% 25.51% 20.81% 17.02% (Star, 2017) Above shown are some of the ratios of ASOS company for the year ended 2016 that reflects the overall business of the company in the market. Further, it is a well-known fact that ratio analysis indicates the internal strength of the business and it can be known whether financial resources of the business are utilized efficiently or not. Profitability ratios have been calculated that takes into consideration gross margin ratio, profit margin ratio and they highlight whether profit of the business is adequate to meet major expenses of the enterprise or not(Dokas, Giokas, Tsamis, 2014). Gross margin ratio helps in knowing the sales revenue of the enterprise that the business retains after incurring the direct associated linked with producing the goods. Gross margin ratio of ASOS plc for the year 2016 is quite high which is 50%, and the reason behind the same is the rise in sales revenue of the business(Exchange, 2016). Overall the revenue of the organization is quite high that supports in recovering all the major expenses. In short, it is reflecting the financial strength of the business is quite strong and all the resources are utilized by the organization efficiently. ASOS plc has control on all the major expenses, and this is the main reason due to which revenue level of the enterprise is quite high. On yearly basis, gross margin percentage is increasing, and this shows real strength of the business(Evans Mathur, 2014). It is reflecting that performance of the enterprise is enhancing rapidly, and all the main resources are utilized efficiently by the business especially financial that is considered to be the life blood of the business. Profit margin ratio of ASOS plc for the year 2016 is 1.66%. It is computed by dividing net income by the sales of the company. The profit margin ratio of ASOS plc is not up to the market and improvement is needed(JOURNAL, 2017). Further, it is indicating the companys profitability is not very secure and the overall level of low profits indicates that sales volume of the enterprise is declining as compared with the past. The company is required to focus on enhancing its sales volume so that profit margin ratio can be easily enhanced with the help of this. Apart from this, it is reflecting the inability of the business to manage all its expenses. Generally, all the operations carried out by the business are crucial, and this is the main reason due to which controlling all the major expenses is must for the enterprise. Maintaining the profitability level for the longer period can assist in gaining the competitive edge and can act as the development tool for the firm. ROCE margin of busi ness is fluctuating and it is representing that business is not able to obtain higher return on the capital employed. Dividends 2011 2012 2013 2014 2015 Earnings per share Basic ( Pence) 0.14 0.27 0.49 0.45 0.44 Dividend Cover 0 0 0 0 0 Dividend Yield 0 0 0 0 0 (Star, 2017) Earning ratio has been computed where P/E ratio of ASOS plc has been computed which is considered as the ratio of companys present share price to its earnings per share. It supports in knowing how the stock is valued in the market. In short, it is possible to know where an organization is operating efficiently in the market. The P/E ratio of ASOS plc is 14167 which is considered to be very high. It is directly indicating that company can provide the higher return to its investors and their needs are satisfied properly by the business. Apart from this, in the near future also high growth rate is expected where investors can expect the higher return on the stocks in which they have invested funds. ASOS plc can provide the high return to the investors due to the presence of high profits and revenue. This is indicating the organization is operating efficiently in the market and can maintain its performance in an appropriate manner. The stock of the company is not undervalued. Apart from this, with the help of this ratio, it is possible for the business to compare its performance with those of competitors present in the market(Lan, 2017). Higher P/E ratio reflects the efficiency of the business in carrying out overall operations. So this is indicating the performance of ASOS plc is up to the mark. Dividend ratio of ASOS Plc has been calculated where there are no such figures as an organization has not paid the dividend to its investors. Due to this reason dividend ratio of the company is zero and the main reason behind the same is that company has not paid any dividend. Generally, the decisions associated with payment of dividend are taken by the top management of the business, and it is possible that payment may be done in the quarter of the financial year or in the end also. Profits of the ASOS plc are present in the adequate amount and due to this reason business can easily pay the dividend. Asset turnover ratio helps in knowing the efficiency of the business in utilizing its assets. The asset turnover ratio of ASOS plc is 2.22 that represents that company is efficiently deploying its assets in generating revenue. Further, it is indicating long term strength of the business where the range of resources present with ASOS plc are efficiently utilized and this in turn is saving major costs associated with the company(Plc, ANNUAL REPORT AND ACCOUNTS 2016, 2016). On a yearly basis, sales revenue of the company is increasing, and this is indicating that utilization of assets is taking place in the proper manner and this is efficient for the entire business. Stability and liquidity 2011 2012 2013 2014 2015 Current Assets 62.32 68.33 74.78 68.60 70.54 Current liabilities 48.10 48.52 95.09 48.83 99.98 Current ratio 1.30 1.41 1.53 1.40 1.42 Acid-test ratio 0.24 0.47 0.57 0.48 0.57 (Star, 2017) Liquidity ratio has been calculated for ascertaining the financial position of the enterprise. It reflects the companys ability to pay off its debts. The current ratio of ASOS plc is 1.04 which is considered to be most appropriate for the business(TIMES, 2017). This is indicating that enough cash is available within the business to pay its debt. ASOS plc is earning adequate amount of income that can be utilized in meeting all the major expenses of the enterprise. Maintaining this ratio can surely provide long term benefit to the business in the form of ability to meet the major expenses. In short, operating along with the day to day expenses of the company can be easily met due to appropriate liquidity ratio(Raki?evi?, Miloevi?, Petrovi?, Radojevi?, 2016). The company will not face the unfavorable situation in the near future such as inadequacy of finance, and it is reflecting the financial ability of the company. So, this is beneficial for the entire company in every possible where all the major operations can be carried out efficiently and this in turn can act as the development tool for the enterprise. In case if any company does not have the adequate amount of cash to meet its major expenses then various challenges have to be faced that influences business operations adversely(Lansdown, 2017). The company which has the strong liquid position in the market can easily manage its main expenses, and due to this reason, ASOS plc is benefitted through this. Its liquidity position allows in smooth functioning of the business operations and in turn adequate cash is present for meeting all the challenges that are faced while carrying out overall operations. The reason behind the strong liquidity position is financial planning that has suppo rted ASOS plc to become financially stable and to meet with the expectations of all the stakeholders associated with the business. 2011 2012 2013 2014 2015 Non-current liabilities 31.26 33.29 52.09 40.55 72.22 Capital employed NA NA NA NA NA Gearing ratio NA NA NA NA NA Total liabilities 48.10 48.52 - 49.09 - Total equity 51.90 51.48 100 50.91 100 Debt to equity ratio 92.6% 94.2% 0 96.4% 0 (Star, 2017) Financial stability ratios have been computed in order to know whether ASOS plc is financially stable or not. Gearing ratio of the company has been calculated that compares owners equity to the funds that are borrowed by the organization. Considering the gearing ratio of ASOS plc which is 0.65 it has been found that the ratio is moderate where it is neither high nor low(traders, 2017). Overall the business is not risky, and the level of gearing is maintained by the organization. It represents that organization has maintained an effective dividend policy that can easily satisfy the need of the stakeholders associated with the company. Generally, the high proportion of debt in the financial structure of the enterprise is considered to be risky as it indicates that company heavily depends on loans for satisfying its financial needs and this is not at all considered to be appropriate(Heikal, Khaddafi, Ummah, 2014). The overall ability of the company to generate high profits and sales is adequate. But on long term basis, it is required for ASOS plc to maintain the gearing structure as it should not be very high or low. Moderate level of gearing structure can allow the company in accomplishing its long term financial objectives. Therefore, by computing various ratios, the overall financial performance of ASOS plc has been identified. It is indicating that company is financially strong and has well organized its resources for conducting the key operations. Moreover, the profits and sales volume of the company is quite high that has allowed ASOS plc to become the leader in the market and has enhanced the internal strength of the business(JOURNAL, 2017). Further, in the near future also the company is required to maintain this performance so as to grab the range of opportunities present in the external environment. Apart from this, an organization must focus on declaring dividends so that more investors can be attracted easily and through this stakeholder of the business can be satisfied easily(Peavler, 2016). Therefore, with the help of this, it can be stated that ASOS plc is operating efficiently in the market and can cover its major expenses. Analyzing the financial statements and annual report of the business it has been found that business is operating efficiently in the market. Further, profits along with the sales revenue of the enterprise are quite high, and this is enhancing at a faster pace every year. ASOS plc is utilizing its financial assets in an effective manner and this has become one of the main reasons behind the success of the company in the market. Before undertaking this research, I was not aware of the financial performance of ASOS plc, but through its annual report, it became possible for me to know its overall efficiency. I identified that company had developed appropriate standards of corporate governance for effective management of business operations. Board has been formed whose primary task is to review the overall strategy of the enterprise, approving financial statements, remuneration policies, risk management policies, audit practices, etc(ArAs, 2016). The roles and responsibilities of chairman and chief executive officer are clear where they implement the major strategies that are associated with the performance of the enterprise. Apart from this, to deal with the director conflict, proper procedures are present so that interests of the top executives can be managed through this. I analyzed that corporate governance of ASOS plc is quite appropriate and flexible too as compared to other firms operating in the market. The audit committee has been developed by the business which takes into consideration four independent directors and the main responsibility involves financial reporting, internal control, and risk management, internal audit, etc. Through the assistance of this committee, ASOS plc can carry out business operations in an effective manner. It has supported me in understanding the relevance of audit committee, and this has assisted in conducting operations smoothly(Larcker Tayan, 2015). Financial and not financial measures have been undertaken by the business that covers a large number of areas such as health and safety, business integrity environmental concerns employment diversity, etc. Through pro per coordination, in the internal practices of the business all the employees can work efficiently and due to this reason profits earned by the company are high. Through the overall financial analysis, I identified that net asset value per share of ASOS plc in the year 2016 was 104.16p. It refers to public firm total assets minus its total liabilities divided by the number of outstanding shares. The concept of NAVPS is very effective as through this value of one share can be easily determined. Apart from this, it supports investors in comparing funds performance with the market or any other benchmark linked with the industry in which company operates. Considering the NAVPS of ASOS plc, it has been found that this value of the business is high and this is positively affecting the share price of the business(Wrigley Lowe, 2014). Due to this basic reason, ASOS plc can satisfy the need of its investors by providing them higher return as per their expectation level. I am well aware of the fact that it is necessary for every business to satisfy the need of its stakeholders such as investor etc. Therefore, ASOS plc is efficient enough in providing the high return to its investors and the level of return is increasing on a yearly basis. In the financial year ending 2016 the share price of ASOS plc was 4725 and at present in the year 2017 5845(Plc, Share price chart, 2017). It is reflecting that share price of the business has increased by 23% and the main reason behind the same is the rise in profitability level of the company. I have analyzed that companies whose share price rises on continuous basis represent that firm is in the growth stage and possess the capability to satisfy the need of the investors that are associated with the company. Considering the share price of ASOS plc it has been found that majority of the investors prefer to invest in the shares of the business by considering the amount of return that company is providing on the invested capital. 2011 2012 2013 2014 2015 Share price 2339 1811 2749 6220 3928 As per my view investing funds in the shares of the business is highly profitable and it is one of the feasible options. On long term basis, it is recommended to every investor to purchase shares of the company so as to yield the higher return. Further, the company possesses capability to satisfy the need of every investor due to the high level of profits that are earned by the organization. On yearly basis profitability level of the business is rising at the faster pace where management of the ASOS plc allocates funds in satisfying need of the investors that are associated with the firm(Yeoh, 2015). Therefore, in this way investing funds in the shares of the company is the profitable option and this can be proved with the help of share price of the company. Moreover, I analyzed the financial planning strategy of ASOS plc which is also appropriate for enhancing business performance. The company strongly focuses on maintaining relation with its shareholders where appropriate communication strategy has been undertaken so as to meet with the need of different shareholders. The concept of annual general and face to face meetings are employed by the company through which actual requirement of investors is known(Plc, CORPORATE GOVERNANCE REPORT, 2014). Appropriate standards along with policies have been framed within the company where main stress is on conducting the overall activities in the proper manner. It also involves companys safety policies, ASOS supplier standards, behaving ethically, etc. So, this has also acted as the development tool for the enterprise and has provided support to be financially strong. Overall analysis has supported me in understanding the key reasons due to which ASOS plc is operating efficiently in the market and this has been clearly highlighted with the help of annual report and other financial statements. The company stands on the top in the market concerning satisfying its investors need, and this is only possible as profitability level of the business allows to do the same(Young, 2014). Moreover, business is efficient enough in keeping a check on all the major expenses that lead to the decline in profitability level. Overall expenditure level of the enterprise is moderate, and the company has employed the proper approach to manage its major expenses. Conclusion The entire study carried out has supported in knowing the financial strength of ASOS plc. Further, the ratio analysis has supported in knowing that company is operating efficiently where its profitability and net sales are high as compared with the past. Through the annual report, it has been found that corporate governance activities of the company are also effective where the proper structure has been formed. Further, it is feasible for the investors to invest funds in the shares of the company. On continuous basis share price of ASOS plc is rising at the faster pace and this is the main reason due to which investment in this company is feasible and is a good option for the investors. Proper financial and non-financial measures have been undertaken by the business are effective, and this has enhanced the internal strength of the company in every possible manner. References Anwar, S., Rahmawati, R., Rismawati, R., Rukmini, R. (2016). FINANCIAL RATIO ANALYSIS USING ADDED VALUE, INCOME STATEMENT. Qualitative and Quantitative Research Review, , 1 (3). ArAs, G. (2016). A handbook of corporate governance and social responsibility. Florida: CRC Press. Dokas, I., Giokas, D., Tsamis, A. (2014). Liquidity efficiency in the Greek listed firms: a financial ratio based on data envelopment analysis. . International Journal of Corporate Finance and Accounting , 1 (1), 40-59. Evans, J. R., Mathur, A. (2014). Retailing and the period leading up to the Great Recession: a model and a 25-year financial ratio analysis of US retailing. The International Review of Retail, Distribution and Consumer Research , 24 (1), 30-58. Exchange, L. S. (2016). ASC ASOS PLC ORD 3.5P. Retrieved August 26, 2017, from https://www.londonstockexchange.com/exchange/prices/stocks/summary/fundamentals.html?fourWayKey=GB0030927254GBGBXAMSM Heikal, M., Khaddafi, M., Ummah, A. (2014). Influence analysis of return on assets (ROA), return on equity (ROE), net profit margin (NPM), debt to equity ratio (DER), and current ratio (CR), against corporate profit growth in automotive in Indonesia stock exchange. International Journal of Academic Research in Business and Social Sciences, , 4 (12), 101. JOURNAL, T. W. (2017). ASOS PLC. Retrieved August 26, 2017, from https://quotes.wsj.com/UK/XLON/ASC/financials Lan, J. (2017). 16 Financial Ratios for Analyzing a Companys Strengths and Weaknesses. Retrieved August 26, 2017, from https://www.aaii.com/journal/article/16-financial-ratios-for-analyzing-a-companys-strengths-and-weaknesses.touch Lansdown, H. (2017). ASOS Plc . Retrieved August 26, 2017, from https://www.hl.co.uk/shares/shares-search-results/a/asos-plc-ordinary-3.5p/financial-statements-and-reports Larcker, D., Tayan, B. (2015). Corporate governance matters: A closer look at organizational choices and their consequences. London: Pearson Education. Peavler, R. (2016). What is Financial Ratio Analysis? Retrieved August 26, 2017, from https://www.thebalance.com/what-is-financial-ratio-analysis-393186 Plc, A. (2016). ANNUAL REPORT AND ACCOUNTS 2016. Retrieved August 26, 2017, from https://www.asosplc.com/~/media/Files/A/Asos-V2/2016-in-review/financial-review/28-10-2016-ar.pdf Plc, A. (2014). CORPORATE GOVERNANCE REPORT. Retrieved August 26, 2017, from https://www.asosplc.com/~/media/Files/A/Asos-V2/documents/corporate-governance-report-2014.pdf Plc, A. (2017). Share price chart. Retrieved August 26, 2017, from https://www.asosplc.com/investors/share-price/share-price-chart Raki?evi?, A., Miloevi?, P., Petrovi?, B., Radojevi?, D. G. (2016). DuPont Financial Ratio Analysis Using Logical Aggregation. Switzerland: Springer International Publishing. Star, M. (2017, August 3). ASOS plc Financial ratios. Retrieved August 3, 2017, from Morning Star: https://financials.morningstar.com/ratios/r.html?t=ASOMY TIMES, F. (2017). ASOS PLC MARKETS DATA SUMMARY. Retrieved August 26, 2017, from https://www.ft.com/topics/organisations/ASOS_PLC traders, 4. (2017). ASOS Plc. Retrieved August 26, 2017, from https://www.4-traders.com/ASOS-PLC-4003595/financials/ Wrigley, N., Lowe, M. (2014). Reading retail: A geographical perspective on retailing and consumption spaces. Abingdon: Routledge. Yeoh, P. (2015). Corporate Governance in the UK: A Time for Reflection. Business Law Review , 36 (4), 130-135. Young, S. a. (2014). Corporate social responsibility and corporate governance: Role of context in international settings. Journal of Business Ethics , 122 (1), 1-24.

Market Essay Example

Market Essay Note: These questions are illustrative. In addition to studying this set, you should also consult the relevant chapters of your text and your lectures notes. Review this set and feel free to discuss with me, should you have any questions or concerns. Chapter 10 – Product and Brand Decisions 1. Generally speaking, which of the following statements is true concerning product attributes: a. Tangible product attributes are more important than intangible ones. b. Intangible product attributes are more important than tangible ones. . Both tangible and intangible product attributes are important. d. Neither tangible nor intangible product attributes are important. Advertising, company name, news stories, and promotion activities are a few of the elements that contribute to a company’s: a. logo development b. brand equity c. brand image d. cobranding effort It has been said that, if terrorists succeeded in destroying every Coca-Cola production facility on the planet, company ex ecutives could approach virtually any bank and borrow the billions necessary to rebuild the company. This is a reflection of which concept: a. brand equity cobranding b. c. brand image d. brand extension e. brand loyalty ____________ represents the cumulative added value of a company’s investment in the marketing of a brand over time. a. Brand extensions b. Cobranding Brand image c. d. Brand equity e. Brand loyalty The Nike swoosh, McDonald’s golden arches, and Apple’s rainbow apple are all examples of: a. non-word marks b. brand extensions c. brand symbols global brands d. e. both a and c British entrepreneur Richard Branson has built a global business empire by: a. elying on brand extension b. being the first to use smart cards in major markets c. developing local brands d. avoiding consumer businesses with established leaders Maslow’s hierarchy is applicable to global marketing because it can help explain how: a. â€Å"Self-actualization† is the highest-order need in Japan as well as Western nations. b. Status needs in different countries can on ly be fulfilled with localized products. c. Basic human needs can drive the development of global products. d. â€Å"Luxury badging† is irrelevant to companies marketing in Asia. We will write a custom essay sample on Market specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Market specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Market specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Comparing the traditional formulation of Maslow’s hierarchy with the results of current research on the consumer needs and motivation in Asia, which of the following is correct: a. The lowest 3 levels of the hierarchy are the same in the traditional and Asian versions. b. The lowest 2 levels of the hierarchy are the same in the traditional and Asian versions. c. The lowest 4 levels of the hierarchy are the same in the traditional and Asian versions. d. The five levels in the traditional formulation apply equally in the West and in Asia. Which of the following could hinder the success of products labeled â€Å"Made in Russia† or â€Å"Made in South Africa† in export markets: MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 1 of 9 2. 3. 4. 5. 6. 7. 8. 9. a. b. c. d. 10. no possible quality/price positioning low acceptance of private brands high product saturation levels in global markets negative country-of-origin bias The success of many imported beers in the U. S. â€Å"premium† segment illustrates the influence of: a. attitudes towards foreign products b. price advantage because of currency fluctuations complementarity c. d. enetration pricing strategy Campbell’s has been marketing soup in Japan for more than 40 years. Early on, Japanese consumers were not receptive to ads featuring the Campbell Kids and the â€Å"M’m M’m Good† slogan. This compelled Campbell’s to develop ads featuring a talking soup can known as â€Å"Mr. Campbell. † Campbell’s also developed soup varieties for Japan with fish as the main protein source and spices that reflect local preferences. As described here, which of the following strategies has Campbell’s used in Japan: a. product-communications extension b. product extension-communications adaptation c. roduct adaptation-communications extension d. product-communication adaptation product invention e. Prior to 2004, Nokia launched different cell phone products in different countries at different times. Nokia also used different advertising images and messages in different countries. Which approach to the world marketplace was Nokia using: product-communications extension a. b. product extension-communications adaptation c. product-communication adaptation d. product adaptation-communications extension e. product invention When introduced in the late 1970s, the VCR created new patterns of consumer behavior. For example, assuming the user could learn to set the timer, he or she could tape programs to watch at a later time. DVD, a playback only video system, was introduced in the late 1990s. DVD discs contain full-length movies with digital sound in a format that resembles conventional music compact discs. Which of the following most accurately describes the respective degree of newness of these two global products: a. The VCR is a dynamically continuous innovation; the DVD is a discontinuous innovation. b. The VCR is a discontinuous innovation; the DVD is a dynamically continuous innovation. c. The VCR and DVD are both dynamically continuous innovations. d. The VCR and DVD are both discontinuous innovations. e. The VCR and DVD are both continuous innovations. The introduction of consumer VCRs in the late 1970s initiated a revolutionized in-home electronic entertainment. For example, assuming the user could learn to set the timer, he or she could tape programs to watch at a later time. The VCRs popularity also gave rise to an entirely new retailing concept, the video rental store. What type of innovation did the consumer VCR represent: a. a continuous innovation b. a dynamically continuous innovation c. discontinuous innovation d. a comparative innovation Motorola’s failed Iridium venture was a global satellite telephone network designed to allow users to make or receive calls anywhere on the globe using handsets that are somewhat bigger than typical cellular phones. What type of innovation did Iridium represent: a. a continuous innovation b. a dynamically continuous innovation a discontinuous innovation c. d. a platform-based innovation 11. 12. 13. 14. 15. Chapter 11 Pricing Decisions 1. For which of the following products does a true global market exist such that the law of one price holds true: a. ompact discs b. beer c. commercial aircraft d. prescription drugs For which of the following does a true global market exist such that the law of one price holds true: a. commercial aircraft b. crude oil MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 2 of 9 2. c. d. e. 3. integrated circuits none of the above all of the above Which of the following most accurately reflects the impact of international competition on prices in a particular country market: a. lower prices typically result b. higher prices typically result c. nternational competition has no impact on price levels international competition generally leads to charges of â€Å"dumping† d. If the manufacturer of a sophisticated new consumer electronics product determines that many target consumers qualify as innovators and early adopters with relatively inelastic demand curves, the company should use the ______________ pricing strategy: a. gray market b. skimming c. penetration d. market holding e. cost based Which pricing strategy has the advantage of being simple to calculate but the disadvantage of ignoring demand and competitive conditions: a. ray marketing b. skimming penetration c. d. market holding e. cost based A manufacturer attempting to set prices for its products in export markets must realize that CAF, VAT, duties, and distributor margins all lead to: a. currency devaluations b. dumping charges c. market skimming price escalation d. According to a recent study of European industrial exporters, companies that utilized independent distributors would be most likely to utilize: a. ethnocentric pricing b. polycentric pricing c. regiocentric pricing d. eocentric pricing Which automaker was described in Chapter 11 as using an ethnocentric approach to setting prices in the United States: a. Toyota b. Nissan c. Volkswagen d. Mercedes Which of the following pricing strategies recognizes both local market differences and the importance of headquarters input into pricing decisions: a. ethnocentric pricing b. polycentric pricing c. geocentric pricing d. rigid cost-based pricing The unauthorized distribution of trademarked goods to exploit price differentials in world markets is known as: a. market skimming b. black marketing c. gray marketing d. umping e. licensing When Tag Heuer, a marketer of luxury watches, takes out newspaper ads urging consumers to purchase Tag Heuer products from authorized dealers only, the company is attempting to combat the ____________ problem. a. countertrade b. market holding c. price escalation d. gray market MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 3 of 9 4. 5. 6. 7. 8. 9. 10. 11. e. 12. market skimming Transfer pricing refers to pricing decisions for: a. all international sales b. international sales between two non-related companies c. intracorporate sales d. ompany sales to government agencies Cost-based, market-based, and negotiated are three approaches to: a. dumping b. transfer pricing c. gray marketing d. price skimming In the 1970s and 1980s, the arrangement by which PepsiCo received payment for soft drink products sold to the Soviet Union was: a. switch trading b. barter c. offset d. compensation trading Which type of countertrade arrangement is required by governments seeking to reduce the budgetary impact of expenditures for defense or telecommunications: a. barter switch trading b. c. offset d. compensation trading 13. 14. 5. Chapter 12 – Global Marketing Channels and Physical Distribution 1. Marketing channels have the potential to create which of the following types of utility: a. place utility b. time utility c. form utility d. information utility e. all of the above Ebay was a pioneer in a form of online marketing known as: a. b-to-c b. b-to-b c. p-to-p d. d-to-d What solution did Andersen Consulting provide to the Moscow Bread Company to solve the problem of stale bread: a. deliver the bread frozen b. package the bread in plastic bags c. MBC should convert a paperless office to cut red tape d. eliver the bread sliced rather than in whole loaf form Which of the following is an appropriate guideline for companies selecting independent distributors in international markets: a. Select distributors—dont let them select you. b. Look for distributors capable of developing markets. c. Treat local distributors as long-term partners. Maintain control over marketing strategy from day one. d. e. Al l of the above are appropriate guidelines. By definition, ________________ feature a narrow but deep merchandise mix and high levels of service. a. department stores b. specialty retailers c. super markets convenience stores d. iscount stores e. Which of the following correctly characterizes the retailing strategy of Benetton, IKEA, and Gap: a. few product categories, own-label focus b. few product categories, manufacturer brand focus c. many product categories, own-label focus MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 4 of 9 2. 3. 4. 5. 6. d. 7. many product categories, manufacturer brand focus Which of the following categories best describes the approach of Britains Marks Spencer to global retailing: a. few product categories, own-label focus b. few product categories, manufacturer brand focus c. any product categories, own-label focus few product categories, own-label focus d. many product categories, manufacturer brand focus Which approach to retail ex pansion is most appropriate when targeting a country that management considers both culturally close and easy to enter: a. organic growth b. chain acquisition c. franchise d. joint venture When British entrepreneur Richard Branson established the first Virgin Megastore in France, he invested a great deal of money to develop a retail space on the famous Champs-Elysees. Judging by the approach Branson used, he and his management team must have viewed France as: a. ulturally close and easy to enter culturally distant and easy to enter b. c. culturally close and difficult to enter d. cultural distant and difficult to enter When Wal-Mart Stores first expanded into Mexico, management established a joint venture with the countrys largest retailer. Judging by the approach Wal-Mart used, management must have viewed Mexico as: a. culturally close and easy to enter b. culturally distant and easy to enter c. culturally close and difficult to enter culturally distant and difficult to enter d. Physical distribution and logistics are concerned with all but one the following: a. order processing warehousing b. . inventory management d. transportation e. designing in-store displays The physical storage of goods that are waiting to be sold is called: a. warehousing b. order processing c. inventory control d. franchising Containerization refers to a companys: a. designing attractive product packaging that will help a product sell itself b. the use of computer technology to keep a lid on (contain) distribution costs c. using refrigerated warehouses for perishable products d. use of standard-sized shipping boxes that can be transported in various ways When a company uses intermodal or multimodal transportation it is: a. sing multiple channels b. using more than one mode of shipping goods shipping via more than one railroad line c. d. using the services of both UPS and FedEx As described in the text, which global retailer has reconfigured its supply chain and now permits a Taiwanese supplier to ship clothing from the point of manufacture directly to retail stores: Marks Spencer a. b. Brooks Brothers c. Laura Ashley d. Calvin Klein e. J. C. Penney 8. 9. 10. 11. 12. 13 . 14. 15. Chapter 13 – Global Marketing Communications I: Advertising and Public Relations 1. Which of the following product category/company pairings best illustrates the concept of product cultures: MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 5 of 9 a. b. c. d. e. 2. earth-moving equipment/Caterpillar personal hygiene/Procter Gamble coffee bars/Starbucks batteries/Duracell automobiles/Ford A company that successfully creates standardized global advertising can reap which potential advantage: a. economies of scale improved access to distribution channels b. c. first mover status in uncovering global market d. creative leverage e. ll of the above Which company ranks number 1 in terms of ad spending in Europe: a. General Motors b. Philip Morris c. Unilever d. Procter Gamble e. Coca-Cola ___________ is the phrase global marketers use to describe ads with common design elements into which localized elements are inserted for individual country markets. a. Pattern advertising Template advertising b. c. Cookie-cutter advertising d. Model advertising e. Ste reotype advertising In the language of global marketing, ______________ is the phrase used to describe advertising that represents a middle ground between 100% standardization and 100% localization: a. stereotype advertising b. pattern advertising template advertising c. d. cookie-cutter advertising e. compromise advertising In the Czech Republic and other Central European nations, bans on tobacco advertising are being enforced because of: a. growing concern about health hazards associated with smoking b. a dislike of global brands crowding out local brands c. a desire to return to communist-era policies d. a desire to comply with EU regulations The advertising promise that captures the reason that people buy products is known as: a. creative strategy b. the advertising appeal c. the selling proposition d. he creative execution e. the big idea Which of the following is most likely to prevent a global ad from conveying the intended meaning to target audiences: a. SRC influence on the ads creators b. use of back translations c. the widespread acceptance of global product cultures d. convergence of consumer wants and needs According to a research study described in Chapter 13, a TV advertisement that presents a rational appeal by means of an argument-type execution would be well suited to: a. Monochronic cultures with low power distance, high uncertainty avoidance, and a good supply of marketing professionals. . Collectivist cultures with high power distance and high uncertainty avoidance. c. Collectivist cultures with high power distance, high advertising expenditures, and strict government control. d. High power distance, high advertising expenditures, and a limited supply of advertising professionals. According to a research study described in Chapter 13, a TV advertisement that presents a rational appeal by means of an lecturetype execution would be well suited to: a. Monochronic cultures with low power distance, high uncertainty avoidance, and a good supply of marketing professionals. page 455, hard) MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 6 of 9 3. 4. 5. 6. 7. 8. 9. 10. b. c. d. 11. Collectivist cultures with high power distance and high uncertainty avoidance. Collectivist cultures with high power distance, high advertising expenditures, and strict government control. High power distance, high advertising expenditures, and a limited supply of advertising professionals. According to research described in Chapter 13, a TV advertisement that presents an emotional appeal by means of an dramatictype execution would be well suited to: a. Monochronic cultures with low power distance, high uncertainty avoidance, and a good supply of marketing professionals. Collectivist cultures with high power distance and high uncertainty avoidance. b. c. Collectivist cultures with high power distance, high advertising expenditures, and strict government control. d. High power distance, high advertising expenditures, and a limited supply of advertising professionals. In which country are global marketers likely to encounter the most restrictions on advertising: a. United States b. Japan c. Saudi Arabia d. Russia One task of the __________ department to generate nonpaid forms of communication to foster goodwill among customers and others. a. sales promotion b. global marketing c. headquarters public relations d. e. advertising Chapter 11 included a print ad sponsored by the American steel industry urging the president to clamp down on low-priced steel imports. This is an example of ______________ advertising. local advertising a. b. pattern advertising c. global advertising d. advocacy advertising Recently, some of the biggest advertising holding companies have acquired leading public relations agencies. The best explanation for this trend is: A growing realization of the importance of IMC. a. b. Increasing client demands for localized PR campaigns. c. Stepped-up efforts by large companies to combat anti-globalization activists. d. Declining demand for global public relations means agencies have to agree to be acquired or risk going out of business. 12. 13. 14. 15. Chapter 14 – Global Marketing Communication Decisions II: Sales Promotion, Personal Selling and Special Forms of Marketing Communication 1. A marketer of fine French cognac offers fancy cigar ashtrays as prizes to consumers who correctly solve a crossword puzzle. Which of the following most accurately describes this offer: a. price promotion b. non-price promotion c. trade sales promotion d. sweepstakes promotion Which of the following trends is consistent with a relatively high level of headquarters involvement in sales promotions: a. higher proportion of marketing budget allocated to sales promotion activities b. need for managerial skills with promotion formulation and implementation c. strong global brand d. increased retail concentration and consolidation e. all of the above Which of the following is not one of the steps in the Strategic/Consultative Selling Model: a. evelop personal selling philosophy b. develop relationship strategy c. develop product strategy d. develop ethnocentric policy e. develop customer strategy Which of the following is not a step in the strategic/consultative selling model: a. develop a marketing mix MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 7 of 9 2. 3. 4. b. c. d. e. 5. develop a pe rsonal selling philosophy develop a product strategy develop a relationship strategy develop a presentation strategy Which of the following shows the steps of the presentation plan in the correct order: a. egotiation—gt;demonstration—gt;approach—gt;presentation b. demonstration—gt;negotiation—gt;presentation—gt;approach approach—gt;presentation—gt;demonstration—gt;negotiation c. d. presentation—gt;approach—gt;negotiation—gt;demonstration In personal selling, which of the following shows the six stages of the presentation strategy in the correct sequence: a. approach—gt;presentation—gt;demonstration—gt;negotiation—gt; closing—gt;servicing the sale b. demonstration—gt;negotiation—gt;approach—gt;presentation—gt; servicing the sale—gt;closing c. losing—gt;approach—gt; servicing the sale—gt;negotiation—gt;pre sentation—gt;demonstration d. presentation—gt;demonstration—gt;negotiation—gt; approach—gt;closing—gt;servicing the sale When a company must decide on the composition of its foreign sales force, which alternative is generally the most expensive: expatriates a. b. third-country nationals c. host-country nationals d. agents of any nationality When a company must decide on the composition of its foreign sales force, which alternative(s) would generally be least expensive: a. expatriates b. hird-country nationals host-country nationals c. d. both b and c In which global selling situation would a regiocentric company be most likely to utilize third country nationals as sales agents: developed country/high tech product a. b. developed country/low tech product c. less developed country/high tech product d. less developed country/low tech product Which of the following is not characteristic of direct marketing: a. Marketer relinquishes control of pr oduct when it is turned over to channel intermediaries. b. Advertising serves to generate an immediate inquiry or purchase. . Repetition is used individual advertisements. d. Customer experiences high perceived risk. Which of the following is not characteristic of mass marketing: a. Advertising is used to generate an immediate inquiry or purchase. b. Repetition of ads is the key to awareness and remembering. c. Product benefits do not typically include home delivery. d. Customer perceives relatively little risk. Which country or region offers direct marketers the advantage of a well-developed mailing list industry: a. Japan b. Western Europe c. Latin America d. United States In Chapter 14, Thomas Burke, an executive at Saatchi Saatchi, is quoted as saying ____________ are the most powerful form of advertising ever created. a. corporate advocacy ads b. infomercials c. banner ads on the Internet d. direct mail campaigns About two-thirds of sponsorship spending is allocated to: a. arts events b. causes (humanitarian, environmental, etc) c. festivals, fairs, annual events d. sports events MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 8 of 9 6. 7. 8. 9. 10. 11. 12. 13. 14. e. 15. entertainment The Mini Cooper automobile was featured prominently in the recent blockbuster film The Italian Job. This illustrates the importance of __________ as a global marketing communication tool. a. consumer sales promotion b. sampling c. product placement d. trade sales promotion Answer Key Chapters Question # v 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 10 C C A D E A C B D A D C B C B 11 C E A B E D B D C C D C B B C 12 E C B E B A C A A D E A D B E 13 C E C A B D C A A B D C D D A 14 B E D A C A A D D A C D B D C MKTG 680-01, Spring 2006, Exam 2 Review Questions Master Copy Page 9 of 9