Econs Assignment Example | Topics and Well Written Essays - 250 words

Econs - Assignment Example This is due to stagnancyin the market space and increase in potential purchasing stores. The number of customers will remain constant while the number of stores increases resorting to increased competition among the traders. The profit obtained by the craft brewing industry will tend to reduce. This is because the store owners will tend to lower their prices to attract more customers and in turn lower their turnover. Most of the turnover will be divided among the different grocery store shelves. First, the breweries can manufacture different sized bottles. This will make the customers have a wide range of drinks which suite their needs at specific times. Secondly, the craft breweries could manufacture drinks available in different forms like powdered and liquid. This is because some customers may intend to purchase for use at that specified time or for a later use. When manufactured in powdered form, it can easily be store for future use by the customer. This will help target all customers and differentiate the craft breweries. Thirdly, the craft breweries could manufacture brands of different flavors. This would help break the usual sequence of a specified drink in the market and increase the sales as consumers will tend to try the new flavors. This would in turn help differentiate the craft breweries from each

Discussion and Participation Questions Essay Example | Topics and Well Written Essays - 1000 words

Discussion and Participation Questions - Essay Example 1). Concurrently, it is worth mentioning that there are five identified elements that are crucial in any internal control system to ensure effective and efficient implementation: control environment, risk assessment, control activities, information and communication, and monitoring (Kansas State University par. 4). Given these theoretical frameworks, organizations that experience significant changes in terms of growth through diversification, expansion (in products or markets) or acquisition need considerable and appropriate changes in internal control systems that would cater to the transformations made. For example, in a small rural bank which started with only one branch, the internal control system set in place should conform to the amount and quality of resources and corporate information that need to be safeguarded. A limited amount of â€Å"physical control measures are introduced such as locked key-card access and locks so that there is no theft of valuables. Several organiz ations have policies which require supervision of any person who enters a bank vault† (Bhattacharyya par. 7). ... In this regard, the internal control system of an expanding bank should be adjusted and adapted to the needs of its expansion by addressing more clientele, more resources, and therefore, more safeguards are necessary to prevent theft, fraud, negligence, and wastage, as intended. In some examples provided by the Federal Bank of San Francisco, some components of a sound internal control framework include the following guidelines: â€Å"(1) safeguard access to physical and electronic assets and records; (2) ensure adequate segregation and rotation of duties; (3) identify, monitor and minimize conflicts of interest; (4) establish and enforce authority and risk limits; (5) maintain appropriate staffing levels and expertise; and (5) conducting ongoing monitoring† (Federal Reserve Bank of San Francisco 2-3). Large commercial banks therefore require more intricate and complicated but comprehensive internal control systems that would ensure safeguarding the resources of the banks and t hose of their growing number of clientele on an ongoing process. Works Cited Bhattacharyya, Madhurjya. Objectives of Internal Control. 8 July 2010. 15 December 2011 . Federal Reserve Bank of San Francisco. "Intternall Conttrols and Operational Risk Remain on Our Radar Screen." On the Radar Screen November 2004: 2-3. Kansas State University. Internal Controls. 30 June 2003. 15 December 2011 . Discussion Question 2 Describe a common fraud scheme for investments. Explain the controls that may be put in place to prevent the fraud. A common fraud scheme for investment was disclosed in the official website of the Federal Bureau of Investigation (FBI) that circulated in