Law specialism Incorporated - legal firms and internships Essay - 1

Law specialism Incorporated - legal firms and internships - Essay Example Statistic from the Chartered Institute of Personnel Development reveals that more than 20 percent of the employers have plans to hire interns between April and September 2010, this being an increase from the summer of 2009 where only 13 per cent of the employers in the market were willing to hire these interns. On the other hand, the government has supported internships through the Graduate Talent Pool initiative that was initiated in July 2009 that aims at providing additional opportunities to the graduates that have just concluded their studies and are struggling to find work in the recession period. Although there are employment regulations governing the conduct of the organizations that are willing to employ these interns, there are no requirements for the internships to be paid. An internship charter drawn up by the Chartered Institute of Personnel Development voluntarily has codes of practice details a list of six principles upon which an internship should be based to advance t he interests of the intern as well as the hosting organization. It proposes that the recruitment of the interns should be done the same way employees are recruited and proper consideration placed upon the qualifications and skills they have best fit in with the roles they are expected to fill in the firm as well as the advertisement of the internship indicating the length of the internship period. The intern should be indicted into the firm and given the necessary support to integrate them into the firm, offer supervision to the intern, answer questions and provide feedback to the necessary issues they feel need assessment. A formal performance review should be conducted formally by the firm on the intern’s period and give an evaluation of both the firm and the intern. The employees as well as the interns should be treated with the same degree of professionalism as expected in the working environment and be allowed time off occasionally to attend job interviews or complete st udy requirements that come with the completion of the internship period. At the end of the internship period, the firm should be willing to give a certification or a reference letter to the interns with details of the roles undertaken as well as the results of the performance review conducted to help such an intern in his future career development. The Association of Chief Executives of Voluntary Organizations at any one time has 5 interns and roughly 30 staff engaged in a wide variety of responsibilities relating to research, lobbying, campaigning and press work,  including  drafting correspondence, articles and press releases, preparing policy briefings, and managing their own policy projects, (Acevo Policy Internships, 2013 p. 1). Under The Minimum Wage Act 1998, a worker is someone who has a contract of employment either oral or written with a firm to perform certain duties, services or work for another party that has to be expresses or implied in the stipulated contract and he must be paid a minimum wage unless they are subjected to some special exemptions. Hence it is not an outright assumption that an intern is a worker due to some internship characteristics to do with work experience, voluntary work or work shadowing schemes. In the general traditional approach, internship periods last six to

Nestle case study - Creating Shared Value in the Supply Chain

Nestle - Creating Shared Value in the Supply Chain - Case Study Example This paper outlines ways through which nestle creates shared value within the supply chain relating to the cocoa production. It also outlines the importance of applying corporate social responsibility principle in a business activity. The paper also outlines some of the key players in Nestle Cocoa supply chain and the factors that drive the Nestle supply chain. Finally, paper discusses the ways Nestle creates value and the challenges that come with that process. The Nestle Cocoa Plan Nestle has implemented this through creating greater values for the societies. This includes improvements of water, nutrition and rural development. The supply chain activity that is specified includes transforming the raw materials and other natural resources into finished goods consumed by the end consumers. The processes involved are linked to consumers, human rights and labor practices, employees, suppliers and customers and the environment. The consumers are the larger group that consumes the produc ts manufactured by Nestle. Every stage in the supply chain process adds value to the end product (Nestle Case Study). The major key players in this supply chain are farmers, cooperatives, processors or manufacturers, retailers and consumers. The cocoa farmers are tasked with the job of growing the crops that produce cocoa. The cooperatives represent the institutions that manage the sale of the crops by the farmers. They act like unions of farmers who form them to control the market for the crops. Nestle fall under the stage of manufacturers or processors. These are tasked with the production of products which are the end products from the raw materials. Nestle for instance manufactures chocolate and their equivalent from these raw materials. The retailers represent those channels that receive orders from nestle. These channels distribute the products to the end users or rather the consumers. The consumers, who are the last players in the supply chain represents the individuals who p urchase the end products (Nestle Case Study). The chart above represents the process of activities that are involved in the supply chain of the Cocoa plan. In order to coordinate the raw materials that Nestle uses to manufacture the end products, it has to coordinate the way farmers are handled in terms of the market and wages (Nestle Case Study). Factors Driving the Cocoa Supply Chain Shared value that is created by Nestle is based on a number of factors that majorly can be categorized under the corporate social responsibility. Nestle carries out its business based on the international laws and codes that define the conduct and the company business principles, as well as, compliance to environment sustainability regulations. The company, however, under the creating shared platform came up with other factors that would drive the supply chain. The principles that are set by international organizations such as the United Nations help in guiding the company in its value creation in the supply chain through its approach in the corporate social responsibility. An example of this according to the Nestle case study is the principles that incorporate the UN Global Principles. This relates to the Human rights, labor, corruption and environment (Nestle Case Study). The company, for instance, has helped the farmers to eliminate

Software SLP Assignment Example | Topics and Well Written Essays - 750 words - 1

Software SLP - Assignment Example A login based access to the information resources, upload and download provisions, intuitive interface and concurrent information are some important functional requirements set as the core and most important milestones for the development of BSITM website. Dr Robert and Kim-Phuon (2005) obserseves that â€Å"functional requirements are those requirements that identify and prioritize the functions that users want on the site.† The website will have independent sections in order to meet the content requirements of students, instructors and guardians. A separate section will provide a blog and messaging functionalities to serve as a community center for all three major user groups. The home page will have most important contents including news and result sections. Schedules, handouts, assignments, results will serve as the essential contents of the students’ section. Similarly, the instructor section will enable uploads and download provisions whereas the guardians’ section will contain results and personalize reports on children. In order to meet these goals following list of contents and functional requirements is

Case study Example | Topics and Well Written Essays - 750 words

Case Study Example This implies that older employees are of more importance to the organization. The firing of such employees must identify those resistant to change or those considered ineffective and offer them an effective retirement package. The plan for the changes thus begins with the study of the market. An extensive market research reveals new mechanisms of doing business and the changing trends in service delivery. This enables the management strategize and effective come back plan that will inform the subsequent decisions. After an effective audit of the market, the second step in implementing the change is a study of the organizational structure. This includes a study of the nature of service delivery and product design and distribution. A reconciliation of the two research reports reveal the discord thereby informing the necessary changes. Changes are often bold and begin by review the employee status in the firm thereby resulting in the firing of ineffective employees and hiring new ones. It also includes the installment of newer better technologies to aid the management process. This subsequently result in either the expansion or contraction of the organization. Either of which, presents a number of both challenges and opportunities. Question 2 One of the most important operational components is diversification. The original company failed to realize profits because of the resultant miscommunication between the company’s productions and the requirements of the market. While the market kept changing, the company stuck to previous means of doing business thereby resulting in the subsequent failure. The changes in the market should often dictate the changes in operations of an organization, one way of ensuring such is through diversification. By diversifying the products and services, the organization targets a wider market. Furthermore, the wide market provides an effective market research through monitoring sales. This way, the management observes the most pre ferred products and therefore strategies the production in accordance to the patterns in the sales of the specific products. Diversification often demand changes in the means of doing business. The organization must have a constant consultative nature of relationship with the market. This implores the need for constant market research in order to effect the necessary changes to meet the demands of the market. The new management of the organization carries out an audit of the company’s operations and the results show major discrepancies even in the new dispensation. The fact lack of grooming in the employees’ of the firm stifle the sales despite the extensive research. This implies that while the new management has carried out effective market research, it fails to carry out an audit of its internal structures in order to determine the best ways of conducting business in the new market in order to realize the profitability (Thomas & Michael, 2001). Question 3 Interperso nal skills refer to the human management skills. Managers plan, control, organize and motivate numerous employees depending on the size of the organization the managers must therefore have relational skills to enable them work effectively with their employees, such skills help determine the factors affecting their employees’ productivity thereby crafting the necessary cha

Software SLP Assignment Example | Topics and Well Written Essays - 750 words - 1

Software SLP - Assignment Example A login based access to the information resources, upload and download provisions, intuitive interface and concurrent information are some important functional requirements set as the core and most important milestones for the development of BSITM website. Dr Robert and Kim-Phuon (2005) obserseves that â€Å"functional requirements are those requirements that identify and prioritize the functions that users want on the site.† The website will have independent sections in order to meet the content requirements of students, instructors and guardians. A separate section will provide a blog and messaging functionalities to serve as a community center for all three major user groups. The home page will have most important contents including news and result sections. Schedules, handouts, assignments, results will serve as the essential contents of the students’ section. Similarly, the instructor section will enable uploads and download provisions whereas the guardians’ section will contain results and personalize reports on children. In order to meet these goals following list of contents and functional requirements is

Victims and Legislative Solutions Essay Example for Free

Victims and Legislative Solutions Essay â€Å"knowing production, use or trafficking in counterfeit or unauthorized access devices such as any card, plate code, account number, electronic serial number personal identification number, that can be used to obtain money, goods, services, or any other thing of value, or that can be used to initiate a transfer of funds† (Cybercrime Public and Private Entities, 2007). Despite these measures in place, cybercrime is still a massive problem. This is due to the fact that hiring and retaining skilled investigators is a daunting task because private companies offer a higher salary and better benefits than the federal government (Cybercrime Public and Private Entities, 2007). Also, â€Å"staff rotation policies in place at certain law enforcement organizations† make it difficult for law enforcers to fully attend and address the situation properly (Cybercrime Public and Private Entities, 2007). Besides, it takes a year to train an investigator to be competent enough to handle his own case (Cybercrime Public and Private Entities, 2007). Individuals have to be trained because federal agencies lack resources to employ professional investigators (Cybercrime Public and Private Entities, 2007). In addition, multiple jurisdictions in place makes the matter even more complicated to handle (Cybercrime Public and Private Entities, 2007). â€Å"Law[s] used to address cybercrime differ across states and nations. For example, not all US states have anti-spam laws or anti-spyware laws Further, jurisdictional boundaries can limit the actions that federal, state, and local law enforcement can take to investigate cybercrime that crosses local, regional and national borders† (Cybercrime Public and Private Entities, 2007). Lastly, the complex nature of tracking an identify theft also poses a problem. â€Å"[C]ybercriminals can take steps to remain anonymous, making it difficult, if not impossible, to attribute a crime to them [this is because] [c]ybercriminals can be physically located in one nation or state, direct their crime through computers in multiple nations or states and store evidence for the crime on computers in yet another nation or state† (Cybercrime Public and Private Entities, 2007). Hence, cybercriminals are rarely caught and if they are apprehended, the â€Å"penalties are minimal Community service and parole are the usual sentence† (Identity Theft: How it Happens, 2000). Cybercriminals exist because engaging in identity theft enables them to acquire money and benefits such as material assets, medical insurance and tax returns without working conventionally to obtain them. Also, they are rarely caught because the system in place is disorganized and ineffective; that is why identity theft remains a big problem. A national and specialized agency should be set up to handle this situation. Resources should be allocated to this agency so that skilled investigators can be employed. This will speed the investigation process because individuals in the force do not have to be trained for a year to be able to effectively deal with cases. References: Privacy Rights Clearinghouse. (2000, July 12). Identity Theft: How it Happens, Its Impact on Victims and Legislative Solutions. Retrieved January 20, 2008, from http://www.gao.gov/

What is churn? An overview

What is churn? An overview Churn is the phenomenon where a customer switches from one service to a competitors service (Tsai Chen, 2009:2). There are two main types of churn, namely voluntary churn and involuntary churn. Voluntary churn is when the customer initiated the service termination. Involuntary churn means the company suspended the customers service and this is usually because of non-payment or service abuse. Companies, in various industries, have recently started to realise that their client set is their most valuable asset. Retaining the existing clients is the best marketing strategy. Numerous studies have confirmed this by showing that it is more profitable to keep your existing clients satisfied than to constantly attract new clients (Van Den Poel Larivià ¨re, 2004:197; Coussement Van Den Poel, 2008:313). According to Van Den Poel and Larivià ¨re (2004:197) successful customer retention has more than just financial benefits: Successful customer retention programs free the organisation to focus on existing customers needs and the building of relationships. It lowers the need to find new customers with uncertain levels of risk. Long term customers tend to buy more and provide positive advertising through word-of-mouth. The company has better knowledge of long term customers and they are less expensive with lower uncertainty and risk. Customers with longer tenures are less likely to be influenced by competitive marketing strategies. Sales may decrease if customers churn, due to lost opportunities. These customers also need to be replaced, which can cost five to six times more than simply retaining the customer. 1.1.Growth in Fixed-line Markets According to Agrawal (2009) the high growth phase in the telecommunications market is over. In the future, wealth in the industry will be split between the companies. Revenues (of telecommunication companies) are declining around the world. Figure 2 shows Telkoms fixed-line customer base and customer growth rate for the previous seven years. The number of lines is used as an estimate for the number of fixed-line customers. Figure 2-Telkoms fixed-line annual customer base (Idea adopted from Ahn, Han Lee (2006:554)) With the lower customer growth worldwide, it is becoming vital to prevent customers from churning. 1.2.Preventing Customer Churn The two basic approaches to churn management are divided into untargeted and targeted approaches. Untargeted approaches rely on superior products and mass advertising to decrease churn (Neslin, Gupta, Kamakura, Lu Mason, 2004:3). Targeted approaches rely on identifying customers who are likely to churn and then customising a service plan or incentive to prevent it from happening. Targeted approaches can be further divided into proactive and reactive approaches. With a proactive approach the company identifies customers who are likely to churn at a future date. These customers are then targeted with incentives or special programs to attempt to retain them. In a reactive targeted approach the company waits until the customer cancels the account and then offers the customer an incentive (Neslin et al., 2004:4). A proactive targeted approach has the advantage of lower incentive costs (because the customer is not â€Å"bribed† at the last minute to stay with the company). It also prevents a culture where customers threaten to churn in order to negotiate a better deal with the company (Neslin et al., 2004:4). The proactive, targeted approach is dependent on a predictive statistical technique to predict churners with a high accuracy. Otherwise the companys funds may be wasted on unnecessary programs that incorrectly identified customers. 1.3.Main Churn Predictors According to Chu, Tsai and Ho (2007:704) the main contributors to churn in the telecommunications industry are; price, coverage, quality and customer service. Their contributions to churn can be seen from Figure 3. Figure 3 indicates that the primary reason for churn is price related (47% of the sample). The customer churns because a cheaper service or product is available, through no fault of the company. This means that a perfect retention strategy, based on customer satisfaction, can only prevent 53% of the churners (Chu et al., 2007:704). 1.4.Churn Management Framework Datta, Masand, Mani and Li (2001:486) proposed a five stage framework for customer churn management (Figure 4). The first stage is to identify suitable data for the modelling process. The quality of this data is extremely important. Poor data quality can cause large losses in money, time and opportunities (Olson, 2003:1). It is also important to determine if all the available historical data, or only the most recent data, is going to be used. The second stage consists of the data semantics problem. It has a direct link with the first stage. In order to complete the first stage successfully, a complete understanding of the data and the variables information are required. Data quality issues are linked to data semantics because it often influences data interpretation directly. It frequently leads to data misinterpretation (Dasu Johnson, 2003:100). Stage three handles feature selection. Cios, Pedrycz, Swiniarski and Kurgan (2007:207) define feature selection as â€Å"a process of finding a subset of features, from the original set of features forming patterns in a given data set†. It is important to select a sufficient number of diverse features for the modelling phase. Section 5.5.3 discusses some of the most important features found in the literature. Stage four is the predictive model development stage. There are many alternative methods available. Figure 5 shows the number of times a statistical technique was mentioned in the papers the author read. These methods are discussed in detail in Section 6. The final stage is the model validation process. The goal of this stage is to ensure that the model delivers accurate predictions. 5.5.1Stage one Identify data Usually a churn indicator flag must be derived in order to define churners. Currently, there exists no standard accepted definition for churn (Attaa, 2009). One of the popular definitions state that a customer is considered churned if the customer had no active products for three consecutive months (Attaa, 2009; Virgin Media, 2009; Orascom Telecom, 2008). Once a target variable is derived, the set of best features (variables) can be determined. 5.5.2Stage two Data semantics Data semantics is the process of understanding the context of the data. Certain variables are difficult to interpret and must be carefully studied. It is also important to use consistent data definitions in the database. Datta, et al. (2001) claims that this phase is extremely important. 5.5.3Stage three Feature selection Feature selection is another important stage. The variables selected here are used in the modelling stage. It consists of two phases. Firstly, an initial feature subset is determined. Secondly, the subset is evaluated based on a certain criterion. Ahn et al. (2006:554) describe four main types of determinants in churn. These determinants should be included in the initial feature subset. Customer dissatisfaction is the first determinant of churn mentioned. It is driven by network and call quality. Service failures have also been identified as â€Å"triggers† that accelerate churn. Customers who are unhappy can have an extended negative influence on a company. They can spread negative word-of-month and also appeal to third-party consumer affair bodies (Ahn et al., 2006:555). Cost of switching is the second main determinant. Customers maintain their relationships with a company based on one of two reasons: they â€Å"have to† stay (constraint) or they â€Å"want to† stay (loyalty). Companies can use loyalty programs or membership cards to encourage their customers to â€Å"want to† stay (Ahn et al., 2006:556). Service usage is the third main determinant. A customers service usage can broadly be described with minutes of use, frequency of use and total number of distinct numbers used. Service usage is one of the most popular predictors in churn models. It is still unclear if the correlation between churn and service usage is positive or negative (Ahn et al., 2006:556). The final main determinant is customer status. According to Ahn et al. (2006:556), customers seldom churn suddenly from a service provider. Customers are usually suspended for a while due to payment issues, or they decide not to use the service for a while, before they churn. Wei and Chiu (2002:105) use length of service and payment method as further possible predictors of churn. Customers with a longer service history are less likely to churn. Customers who authorise direct payment from their bank accounts are also expected to be less likely to churn. Qi, Zhang, Shu, Li and Ge (2004?:2) derived different growth rates and number of abnormal fluctuation variables to model churn. Customers with growing usage are less likely to churn and customers with a high abnormal fluctuation are more likely to churn. 5.5.4Stage four Model development It is clear from Figure 5 that decision tree models are the most frequently used models. The second most popular technique is logistic regression, followed closely by neural networks and survival analysis. The technique that featured in the least number of papers is discriminant analysis. Discriminant analysis is a multivariate technique that classifies observations into existing categories. A mathematical function is derived from a set of continuous variables that best discriminates among the set of categories (Meilgaard, Civille Carr, 1999:323). According to Cohen and Cohen (2002:485) discriminant analysis makes stronger modelling assumptions than logistic regression. These include that the predictor variables must be multivariate normally distributed and the within-group covariance matrix must be homogeneous. These assumptions are rarely met in practice. According to Harrell (2001:217) even if these assumptions are met, the results obtained from logistic regression are still as accurate as those obtained from discrimination analysis. Discriminant analysis will, therefore, not be considered. A neural network is a parallel data processing structure that possesses the ability to learn. The concept is roughly based on the human brain (Hadden, Tiwari, Roy Ruta, 2006:2). Most neural networks are based on the perceptron architecture where a weighted linear combination of inputs is sent through a nonlinear function. According to de Waal and du Toit (2006:1) neural networks have been known to offer accurate predictions with difficult interpretations. Understanding the drivers of churn is one of the main goals of churn modelling and, unfortunately, traditional neural networks provide limited understanding of the model. Yang and Chiu (2007:319) confirm this by stating that neural networks use an internal weight scheme that doesnt provide any insight into why the solution is valid. It is often called a black-box methodology and neural networks are, therefore, also not considered in this study. The statistical methodologies used in this study are decision trees, logistic regression and survival analysis. Decision tree modelling is discussed in Section 6.1, logistic regression in Sections 6.2 and 6.3 and survival analysis is discussed in Section 6.4. 5.5.5Stage five Validation of results Each modelling technique has its own, specific validation method. To compare the models, accuracy will be used. However, a high accuracy on the training and validation data sets does not automatically result in accurate predictions on the population dataset. It is important to take the impact of oversampling into account. Section 5.6 discusses oversampling and the adjustments that need to be made. 1.5.Adjustments for Target Level Imbalances From Telkoms data it is clear that churn is a rare event of great interest and great value (Gupta, Hanssens, Hardie, Kahn, Kumar, Lin Sriram, 2006:152). If the event is rare, using a sample with the same proportion of events and non-events as the population is not ideal. Assume a decision tree is developed from such a sample and the event rate (x%) is very low. A prediction model could obtain a high accuracy (1-x%) by simply assigning all the cases to the majority level (e.g. predict all customers are non-churners) (Wei Chiu, 2002:106). A sample with more balanced levels of the target is required. Basic sampling methods to decrease the level of class imbalances include under-sampling and over-sampling. Under-sampling eliminates some of the majority-class cases by randomly selecting a lower percentage of them for the sample. Over-sampling duplicates minority-class cases by including a randomly selected case more than once (Burez Van Den Poel, 2009:4630). Under-sampling has the drawback that potentially useful information is unused. Over-sampling has the drawback that it might lead to over-fitting because cases are duplicated. Studies have shown that over-sampling is ineffective at improving the recognition of the minority class (Drummond Holte, 2003:8). According to Chen, Liaw Breiman, (2004:2) under-sampling has an edge over over-sampling. However, if the probability of an event (target variable equals one) in the population differs from the probability of an event in the sample, it is necessary to make adjustments for the prior probabilities. Otherwise the probability of the event will be overestimated. This will lead to score graphs and statistics that are inaccurate or misleading (Georges, 2007:456). Therefore, decision-based statistics based on accuracy (or misclassification) misrepresent the model performance on the population. A model developed on this sample will identify more churners than there actually are (high false alarm rate). Without an adjustment for prior probabilities, the estimates for the event will be overestimated. According to Potts (2001:72) the accuracy can be adjusted with equation 1. It takes prior probabilities into account. With: : the population proportion of non-churners : the population proportion of churners : the sample proportion of non-churners : the sample proportion of churners : the number of true negatives (number of correctly predicted non- churners) : the number of true positives (number of correctly predicted churners) : the number of instances in the sample However, accuracy as a model efficiency measure trained on an under-sampled dataset is dependent on the threshold. This threshold is influenced by the class imbalance between the sample and the population (Burez Van Den Poel, 2009:4626).