For the past four weeks we have introduced and discussed key aspects of an e-Business, including, business models, infrastructure, marketing and operations.
This week we will introduce and discuss financial planning, legal and regulatory issues pertaining to e-Business. The financial, legal, regulatory and ethical issues we are going to discuss this week are less glamorous that business models and marketing.
However, they are potent enough to derail the most powerful business models and strategy. Typically they involve behind the http://uht.me/essay-help/what-is-hygiene-hypothesis.php activity so they do not get much press. However, if a Fastow can destroy a Fortune 6 company and a Napster can be shut down, lesser mortals beware.
Much like a champion boxer who neglected his health or worse was on banned substances, an e-Business that does not watch its financial health or is involved in illegal Regulatory Issues In Business Plan unethical behavior is only one punch away from a Knock Out or one drug test away click disqualification.
There is no worse mistake than procrastinating about identifying and addressing legal, regulatory and ethical issues. A good solution, to be really effective, must include clearly stated rules, roles, process and training.
Every year there are some public policy changes that will impact business. In , with a new incoming presidential administration and Congress, the likelihood of. 3 Executive Summary This should be a brief summary of the key points in: • The regulatory business plan and • The firms background • As far as possible this. Business Plan, which includes its consideration of the international regulatory agenda. Macroeconomic impacts and social impacts Key issues for your. Legal issues, technology, societal changes and trends are among common elements of the external environment. Increased industry regulations can benefit your company if you are an established player and want insulation from more competition.
What is often argued is what these vital statistics are. There are market share bigots and profitability zealots. Similarly, there are viewpoints on financial ratios and the resulting Regulatory Issues In Business Plan. We are not about to settle those debates because each side has merit based upon the situation.
However, the need to capture data and monitor ratios is something that cannot be emphasized enough. As we have discussed previously, an e-Business is, well, a business.
Its long term survival is dependent on its financial health. More often than not, e-Business failures have involved a degree of financial mismanagement. In most cases because of lack of sound planning; in some because of deliberate criminal intent. However, having a financial plan is also not a guarantee of success. In the click terms, a read article plan is dependent on projections that may or may not have a basis.
The analysis involves ratios which may or may not have relevance. It involves conclusions that may or may not have been drawn correctly. And lastly, business decisions might not have factored in any of the above! In the heady days of the mids, some business plans got funding based on relationships rather than merit. They contained revenue projections that were unrealistic, to say the least, and impractical cost figures that often missed many major expense items.
Admittedly, this was uncharted territory and mistakes are normal.
With vintage, at least we can pretend that it was made by a man named Francois in a picturesque workshop, diligently sewing baggage whereas wearing a beret and smoking a hand-rolled cigarette. She acquired this concept from her father who serves in the military and each time he comes home, he performs with Deanna; one in all her favourite video games is carrying her dad's ghillie swimsuit and conceal. The Grand Canyon is one of the awe-inspiring natural options within the United States.
It creates crisp, business customary slots for key cards, title tags, and ID badges.
What is perhaps more distressing is the lack of a business plan, at least a serious one, at most large companies which pursued e-Business. Their failures are more easily hidden in much larger income statements and balance sheets. But the fact remains that a lot of them lost as much, if not more, here than their start-up brethren. Sound financial planning is critical for any business venture, especially for new ones.
Top 10 Regulatory Issues Small Businesses Need to be Aware of in [tps_header] With the New Year now in full swing, small business owners are focused on implementing their strategic plans for 9 Regulatory Issues That Will Affect Small Business in Paychex has identified the top regulatory issues small businesses should be mindful plan participants. NovOculi eye surgery equipment maker business plan regulatory issues. NovOculi is a start-up company with plans to develop and market a less-invasive eye surgery method and tools. MedNexis, Inc. medical equipment business plan regulatory issues. MedNexis, Inc. is a start-up medical device company that has designed and patented devices to aid in. e-Business Finance, Legal and Regulatory Issues. PRINT; What is a business plan and why is it relevant for e-Business? What are the ways to fund an e-Business?.
They require much tighter controls because there is very little wiggle room. My own experience with start ups and old economy clients has provided some pointers to good financial management:.
There is a fine line separating some Regulatory Issues In Business Plan and ethical issues. Often it does not matter if something can send you to jail because it is bad enough if it could derail your business.
It does not matter if you did something wrong because a perception is often enough to keep customers away. For each dissatisfied or displeased customer, rest assured, you are losing ten. Sometimes businesses do not realize the seriousness of legal and ethical issues and do not demonstrate a sense of urgency about addressing them. They are lulled into procrastination by a belief that these issues do not address the bottom line or this stuff happens to others.
That is a very costly time bomb waiting to explode. One of the most daunting issues in a big company setting is the determination of the legality of an issue. One can start the process but not know when or where it will lead. At Prudential, it was a very time consuming and frustrating experience. I remember trying to get approval to add an online chat feature for customer service. It is well known that visitors sometimes get confused and frustrated with web visit web page. A cost effective solution is online chat with a service representative.
Financial services companies, especially heavily regulated ones such as insurance companies, are obligated to keep records of their customer interaction. Hence, our legal department, which is correctly concerned about frivolous lawsuits, was taking its time clearing our request. After months of negotiations it was not clear why we could not convince them. Eventually, it turned out that they had never used the feature and did not know its capability to keep logs.
They did not bother asking and my team did not bother telling. A simple demonstration cleared something which was stuck for months. However, very few take this issue seriously.
Some web sites use this information as customer ids and password verification! There are better and more secure ways of doing this because security is not only in protecting information but also in not having it, unless absolutely necessary, in the first place. Access to minors is also a point often overlooked. Portal sites do a good job of denying minors accounts and emails without parental consent. However, after that everything falls apart.
SaaS Legal Issues: Regulatory Issues with Software Companies
The content is not rated and ads that should not reach minors reach them. The debate rages on as to how prime time TV is getting bolder in its programming.
What was once taboo is increasingly acceptable?
This system was only limited by our offensive word vocabulary! This is another area where e-Business has introduced, or exacerbated, the personal ownership of content. A good e-business makes it absolutely essential not to plagiarize.
A great one actively monitors and takes action against it. This is perhaps the hottest topic of debate as it relates to internet based commerce. States, which are increasingly under financial pressure, are debating taxing internet based sales.
However, the free ride might be coming to end in the continue reading. Anyone who has tried to collect money knows the limitations of our system.
Regulatory Issues In Business Plan who has tried to return something purchased on the net can attest to the need for a good dispute resolution system.
With the transactions amounts becoming smaller and the parties dispersed geographically the issue of jurisdiction and resolution has taken on a whole new meaning. However, much stricter controls need to be in place to ensure success.
Self Regulation versus Government Regulation: The tales of government inefficiency and high handedness are many and widely recounted. We also know there are opposing views on whether we are better off with less government and lesser dependence on government. In general, it is a good idea to self regulate, because what may be legal might not be good for business. One must not run their lives or businesses by waking up to the color on the terror warning meter and take corrective security action, it is sufficient to note that there Regulatory Issues In Business Plan many flavors of malcontents out there trying to break into a business.
Good financial planning, legal and ethical practices are critical to the success of an e-Business. They must be viewed as part of the overall picture, not a stand alone component.
They must be tightly coupled with all other components such as strategy, technology and organization. However, financial decisions are sometimes taken from a very myopic, expedient and tactical perspective. For example, companies, such as Webvan.
One must choose what Regulatory Issues In Business Plan secure and how to secure extreme care. More importantly, there is a broader definition of security. Security is not restricted to protection from threats of physical violence or stealth. Let us not protect our company out of business. Unfortunately, this is not where the damage ends.
It frightened his "children" employees? The business model and common sense should be the guide in all such decisions. A complete and thorough analysis that weighs in key factors such as model, strategy, Regulatory Issues In Business Plan preferences, product, price etc. Financial Planning What should an e-Business focus on market share or profitability?
What is a business plan and why is it relevant for e-Business? What are the ways to fund an e-Business? Financial Reporting What is the rationale for transparency in reporting of income and expenses? What are some of the standardized reporting techniques? Link own experience with start ups and old economy clients has provided some pointers to good financial management: Before you take the first step make a business plan.
You might have heard that serious business people make plans small enough to fit on the back of a napkin. You cannot do yourself a bigger disservice. Make a plan that is detailed enough to run on autopilot.