Concepts: There was a variety of concepts used in this case. Security are policies and technical measures used to prevent unauthorized access, alternation, theft or physical damage to information systems. Controls are all methods, policies and procedures that ensure protection of the organization’s assets, accuracy and reliability of its records and operational adherance to management standards. General controls are overall controls that establish a framework for controlling the design, security and use of computer programs throughout an organization. Application controls are those which are unique to each computerized application. Data Security controls are those which ensure that data files on either disk or tape are not subject to unauthorized access, change or destruction. Administrative controls are formalized standards, rules, procedures and disciplines to ensure that the organization’s controls are properly executed and enforced. Online Transaction Processing is a transaction processing mode in which transactions entered online are immediately processed by the computer. Authentication gives each party in the transaction the ability to identify the other party.
Message Integrity is the ability to ascertain that a transmitted message has not been copied or altered. Digital Signature is a digital code that can be attached to an electronically transmitted message to uniquely identify its contents and sender. Digital Certificate is an attachment to an electronic message to verify the identity of the sender and to provide the receiver with the means to encode a reply. Risk Assessment is determining the potential frequency of the occurrence of a problem and the potential damage if the problem were to occur. It is also used to determine the cost/benefit of a control. Data Quality Audit is a survey or sample of files to determine accuracy and completeness of data in an informations system. Data Cleansing corrects errors and inconsistencies in data to increase accuracy so that they can be used in a standard company-wide format. MIS Audit identifies all the controls that govern individual information systems and assesses their effectiveness. Walkthrough is a review of specification or design document by a small group of people carefully selected based on the skills needed for the particular objectives being tested. Debugging is the process of discovering and eliminating the errors and defects in the program code. You can order a high-quality custom essay, term paper, research paper, thesis, dissertation, speech, book report or book review from our professional custom writing service. We have employed more than 500 highly qualified Ph.D. Master’s academic writers to provide students with professional academic writing help. Feel free to contact our company right now!
There is an information asymmetry problem here in that managers might be willing to do the same job for less. Furthermore, the number of qualified executives for a given position is often small, so creating a self-selection scenario can be problematic. The best that companies can do is to be very clear on what is expected and then negotiate for the best price. So, it is possible that GD could have paid less to their executives and gotten the same results. We have no way to tell for certain. 1.2 billion, or about 1.5 cents per dollar. There may have been viable alternatives to the downsizing strategy pursued by Anders at GD. For example, the company might try to produce its way out of trouble, as Lincoln Electric did in the previous case. It might enter other markets and retrain its workers. The company might also pursue total liquidation or sale: if a company is more valuable to shareholders dead than alive, managers are obligated to end it.
But none of these alternatives seems likely to be more successful. Unlike Lincoln, GD faces declining demand in a very uncertain market, and is not already focused on a core competency. GD and its competitors have a history of poor performance in diversification efforts, and there is nothing to indicate that this will change. While GD could theoretically attempt to restructure itself to be more efficient in serving its current markets, what new structure would offer it the “critical mass” necessary to compete more effectively in those markets? In short, if GD cannot find a strategy to compete in a market, it is better off exiting that market and returning any residual value to shareholders or reinvesting it where a promising strategy exists. One could argue that Anders and the executives were not good enough at developing better strategies, but given that they fared better than their competitors, it seems likely that they judged correctly. You can order a high-quality custom essay, term paper, research paper, thesis, dissertation, speech, book report or book review from our professional custom writing service. We have employed more than 500 highly qualified Ph.D. Master’s academic writers to provide students with professional academic writing help. Feel free to contact our company right now!