Advantages and Disadvantages of a Duopolistic market...

Advantages and Diadvantages of a duoppolistic Market structure jaiveer Khurana GBBA10028 09/10/2013 Advantages and Disadvantages of a Duopolistic Market structure A duopolistic market structure is a form of oligopoly in which two main companies dominate most of the market share of a particular product or a service. The impact on the market is quite similar to that of a monopoly. In a duopolistic market structure the companies that have a duopoly reap the full benefits of controlling the price and output in the market. But this makes it very difficult other companies to enter the market or survive in the long run In Australia the best example of a duopoly is perhaps Woolworths and Coles. Lets take the case of the Woolworths and Coles†¦show more content†¦Reports have indicated that in some petrol pumps owned by both Woolworth and Coles the petrol subsidies went up to like 166.9c a litre.. The Chairman of ACCC Mr Rod Sims has issued a court notice against the petrol shopper dockets offered by Woolworths and Coles. The report by ACCC also indicates that this scheme will hurt may fuel retailers in the long run and will ruin the chance of a fair competition in the country. Even though the consumers are happy with this scheme but this will harm many retailers and there can also by a point of a duopoly in selling of petrol in the country by only two companies in the future. Supplier’s complaints- A large number of suppliers to Woolworths and Coles have expressed that they have a difficulty in working with them. The milk war between Woolworths and Coles, which resulted in the reducing the price of most of the other day to day, use utilities and food like bread, toilet paper and tea.. The $1 for a litre of milk might be in amazing scheme in attracting a large volume of customers but for the dairy farmers it might not be an amazing scheme as they might be concerned about their profit margins. Suppliers have also raised concerns about the price discrimination they have to face because of the home branded goods. Many suppliers have also stated they find it much easier and simple to work with International retailers like the German supermarket Aldi. . ManyShow MoreRelatedColes and Woolworths Case Study Essay1326 Words   |  6 PagesThe key to Woolworths’ faster growth than Coles Myers may be attributed to several reasons, one of them being its emphasis on diversification which saw it enter markets such as petrol. Woolworths offered everyday low price (EDLP) on established brands, a strategy akin to Wal-Mart in the United States which presents a competitive advantage against Coles Myers’ Kmart and Target divisions which maintained a ‘high-low’ pricing strategy. Woolworths CEO Roger Corbett who had prior experience with the managementRead MoreQuestions On The Spectrum Bands2138 Words   |  9 PagesFederal Communications Commission (FCC). This means that the FCC permits any carriers within broad limits, to use them to provide any type of service using any type of technology. The second fact is that the services provided over these bands are market substitutes. For instance, when it comes to mobile telephone service providers, the data and mobile voice services provided by a company over a certain set of spectrum are the same with that provided by another company in their own set of spectrumRead MoreCam ar Automotive Hoist3454 Words   |  14 Pagesoperations and long term competitiveness. The president, Mark Camar has just received a proposal about the option to enter into the European market, prepared by the Camar marketing manager. Mark Camar must decide on a course of action that will maximize profits and keep risk to a minimum level. Issues: Camar’s current marketing strategy does not maximize market share potential. Presently, 75% of sales are generated from small businesses. Therefore, the marketing strategy must address the issue inRead MoreStrategies for International Marketing7780 Words   |  32 PagesStrategies for International Marketing The process of penetrating and then developing an international market is a difficult one, which many companies still identify as an Achilles heel in their global capabilities. Two aspects of the typical approach are particularly striking. First, companies often pursue this new business opportunity with a focus on minimizing risk and investmentÂâ€"the complete opposite of the approach usually advocated for genuine start-up situations. Second, from a marketingRead MoreAirbus vs Boeing7131 Words   |  29 Pagesseries. Furthermore, from Michael E. Porter’s theory on the competitive benefit of nations, the factors that have mainly assisted the US and EU to attain competitiveness in the area of airplanes manufacturing can be pointed to a firms strategy, structure and rivalry, factor conditions, related and supporting industries as well as demand conditions (Porter, 1990). After analysing the aircraft manufacturing industry based on this reason or factor, it was realized that government support considerablyRead MoreA Framework for Comprehensive Strategic Analysis11385 Words   |  46 Pagesfirms in a single line of business. Some projects are more oriented to an industry analysis (a potential client for this type of analysis might be a firm considering entering the industry). Other projects are essentially analysis of entry into a new market or (new) business plans (see business plan power point slides). The logic of a comprehensive strategic analysis is simple: describe and explain the issue/problem, assess it, try to solve it. Of course, we actually analyze p roblems in a much more

The Nullification Crisis and Its Effects on the United States

The Nullification Crisis, which transpired under Andrew Jackson’s administration created a controversy not only during its time, but also in the years to follow and ultimately was one of the many causes of the Civil War years later. The Nullification crisis soon developed in the early 1830’s when the state of South Carolina began to have issues with the protective tariff (which was designed to protect the industry in the northern United States by taxing imports). At this point in history, many of the leaders of South Carolina were under the idea that a state did not have to follow a federal law and could â€Å"nullify† the law. This was a result that many colonists from South Carolina felt that the protective tax was benefiting the†¦show more content†¦One of the more powerful men in advocating of the south was John C. Calhoun, who was an experienced politician at the time. Many believe that Calhouns ideas were the precursor to the session crisis that ul timately triggered the Civil War around 30 years later. Although a solution was established to resolve the tension between the North and the South, the issue resurfaced over the issue of slavery a few years later due to the South once again becoming angered at certain actions of the President. In conclusion, the Nullification Crisis contributed to the Civil War for many different reasons. For one, President Jackson’s main goal was to preserve the Union and avoid war at any cost. However, the Nullification Crisis created tension between the North and the South, which would later boil over to the point of war. Furthermore, the North was a manufacturing community, as well as being significantly larger than the South. The South was an agricultural society, meaning that they were dependent on the North for manufactured goods. Tensions rose between the North and South because the North was not only benefiting from the protective tariff, but they were making money from the Southâ₠¬â„¢s need for manufactured goods for farming. In the end, the protective tariff showed that if the North could inflict a tariff on the South, then the North (have a significantly larger population) could end slavery (which was the South’s main form of wealth). Due toShow MoreRelatedEssay about The Nullification Crisis1585 Words   |  7 PagesFebruary 22, 2013 The Nullification Crisis The Nullification Crisis was a revolt by the citizens against Andrew Jackson and the Union, whereby they sought liberty and the state of being free, including various social, political, and economic privileges. This attempt to revolt against Jackson failed, and their seceding from the country was not granted. In these efforts to secede, they sought liberty and worked together as a state to gain what they believed to be free and include various privilegesRead MoreSouth Carolina Nullification794 Words   |  4 Pages Adv. U.S. History South Carolina Ordinance of Nullification, November 24, 1832 Throughout the great American history, Americans have been through a colossal amount of conflicts, and wars. However, they still figured out a way to compromise and accept each other’s differences. As America improves, they gradually lead to a making of a powerful and organized government. Yet in â€Å"South Carolina Ordinance of Nullification† a conflict arises, where South Carolina is furious at theRead MoreThe Nullifying Crisis : The Causes Of The Nullification Crisis1552 Words   |  7 Pages The Nullification Crisis of 1832 is one of the crises that would eventually lead to the Civil War. Following the suffering of an economic downturn throughout the 1820s, the United States government passed several new tariffs. When the Tariff of 1828 was passed by the Congress of the United States on May 19, 1828, it sparked the debate over states’ rights and highlighted the growing sectional difference between the South and the North in America. That Tariff of 1828 raised taxes on imported manufacturedRead MoreThe Age Of Jackson s Political History1074 Words   |  5 Pagesrelations with Indians, the issue of state and federal rights and also established a political rivalry. The Age of Jackson occurred during the time period from 1829 to 1837. During this time period, the United Stated of America was under the presidential term of Andrew Jackson. Ever since Andrew Jackson’s election, there was a complete transformation in the political history of the United States. Before Andrew Jackson, who in which was the 7th president of the United States, there had only been presidentsRead MoreEssay on Cause of the American Civil War1732 Words   |  7 Pagesanswer is an all of the above approach. The cause of the war that divided the nation cannot be narrowly defined into a single issue but each cause is affected and tied together. The main causes that resulted in the Civil War were the issue of nullification, tariffs, but most importantly just an overall difference in their ways of life. Yes, slavery was a cause of the war, but that was not one of the central causes that popular belief has engrained in us all, however, the role that slavery had willRead MoreJury Nullification Essay1746 Words   |  7 PagesJury nullification is when a jury acquits a defendant who it believes is guilty of the crime he is charged (Hickey, 2010. p. 370). This is because the jury chose to ignore the facts of the case and the judge instructions, and based his or her decision on personal opinion. If we are going to allow jury nullification we may as well not take up the tax-payer’s money to even take it to trial. Nullification – The act of making a law null and void (nullifying). For example, during prohibition, many juriesRead MoreThe Doctrine Of The United States Essay1598 Words   |  7 PagesHouse selected John Quincy Adams over Andrew Jackson even though Jackson had received much more votes in the regular election; widely believed that Speaker of the House Henry Clay convinced Congress to elect Adams who then made Clay his Secretary of State. Denmark Vesey originally Telemaque; African American slave brought to the US from the Caribbean; After purchasing his freedom he planned what would have been one of the largest slave rebellions in the US; Word of his plans got out and at CharlestonRead MoreAndrew Jackson s Views On The Election Of 18241483 Words   |  6 PagesClay threw his support behind Adams since he had led some of the strongest attacks against Jackson. Rather than the nation’s presidency go to a man he abhorred, Clay secured the White House for Adams. In return Adams named Clay as his secretary of state. This arrangement was quickly attacked by supporters of Jackson who claimed that Adams had made a â€Å"corrupt bargain† with Clay to win. To Jacksonians the Adams-Clay alliance symbolized a corrupt system where elite insiders pursued their own interestsRead MoreBreak down of compromise between 1820 and 1860 leading to the civil war1471 Words   |  6 Pagesrecognize social patterns. Among events that have aff ected the United States, immigrations, wars and political dispute are three of the chief categories that most directly affect the state of the nation as well as each other. The war class has been easily liked to both political and social changes in the domestic atmosphere and is therefore subject to analysis of the varying origins and causes. And no other war has affected the United States like the Civil War due to the sheer number of deaths and theRead MoreChapter 10 Review Quest825 Words   |  4 Pagesgrowing international presence? -The Monroe Doctrine was created on December 2nd, 1823 which proclaimed European powers would no longer interfere or colonize with affairs within the Americas. It limited the power for the European culture. Also, the United States decided to stay neutral with the Europeans and their colonies. The three main concepts consisted of separate spheres of influence for the Americas and Europe, non-colonization, and non-intervention. 2. How did Andrew Jackson represent the major

Nursing Years Ago and Today Free Essays

string(39) " the emergence of relief associations\." The history of nursing, a segment of the white collar service sector, reflects the general trends in the transformation of work that gave rise to the new, dependent, salaried, white collar workforce, in conflict over the construct of professionalism. Although previously independent practitioners, by the end of World War II, a decisive majority of nurses were forced to find employment in the newly emerging bureaucratic hospitals as their opportunities for autonomous nurse-patient relationships diminished (Melosh 32). In the nation’s hospitals, nurses were subject to processes of bureaucratic control very much like those described by Edwards for both production and nonproduction workers (Edwards 17). We will write a custom essay sample on Nursing: Years Ago and Today or any similar topic only for you Order Now Invisible mechanisms of control, including the human capital notion of professionalism and the use of written rules to govern nurses’ tasks and supervision, were invoked to discipline this white collar workforce. Historically, nurses’ responses to these constraints have been filled with conflict. In the 18th century, nursing was merely another of women’s domestic chores. By the early 19th century, however, nursing had emerged as an occupation performed by respectable working-class women, primarily widows and spinsters. It was a specialty within domestic service, consisting primarily of cleaning a patient’s body, linen, and dressings. This kind of labor was considered by most 19th-century men and women as an extension of woman’s â€Å"natural† biological capacity for domesticity, docility, nurturance, and willingness to sacrifice (Berg 21). A fine line separated the 19th-century nurse from the domestic servant, as both were expected to perform household chores. By 1868, however, they were more clearly differentiated by salary; the nurse earned $1.00 to $2.00 a day whereas the servant earned only $2.22 per week (Reverby 9). Because of the close association with dirty domestic work, few middle-class women entered nursing. Until the Civil War, nursing remained an occupation performed by poor, older, single women with no formal education or training. These women were often drawn from rural areas into the cities in search of paid work, where their options were generally sewing, lodging borders, domestic service, or nursing. By 1870, there were over 10,000 women officially employed as nurses in the United States. Until the 20th century, hospital nursing was less prevalent than household nursing since most births, deaths, and illnesses occurred in the home. The majority of Americans did not see the inside of a hospital until the turn of the century. Hospitals were barely hospitals as we now know them. They were charitable institutions built by philanthropists at the end of the 18th century for the poor, the socially marginal, or the unemployed. Indeed, many hospitals evolved out of public almshouses. Patients in both public and voluntary hospitals were incarcerated for dependence as much as for disease in the 1870s (Vogel 105), and their hospital stay was often for weeks or months, not days. Impermeable walls and guarded gates surrounded the institutions, enabling hospitals to assert some control over the working class, immigrant, or destitute patient. Although benevolent, hospitals treated their patients disdainfully, with authoritarianism and paternalism. Their purpose was to provide the patient with moral uplift while instilling social control. Hospital administrators believed their patients were from â€Å"the very lowest; from abodes of drunkenness and vice in almost every form, where the most depressing and corrupting influences were acting on both body and mind† (Vogel 24). Children were decontaminated upon arrival and taught â€Å"discipline, purity and kindness.† The trustees hoped this regimen would reform the children, who would then bring â€Å"newly refined manners, quickened intellect and softened hearts† back to their homes. Some hospitals attempted to reform adults as well because they believed society benefited not just by saving these workers but also by â€Å"rekindling in them their faith in social order† (Vogel 26). Nurses in these hospitals were generally ambulatory patients themselves, caring for fellow â€Å"inmates.† If not actual patients, hospital nurses originated from the same poor and working-class sectors of society as the patients. They often held several jobs simultaneously and were frequently reprimanded for â€Å"sewing-out† (manufacturing garments on the ward) while on duty (Reverby 24). The status of the 19th-century hospital nurse was very low, comparable to the status of all female patients at this time. The female patient of 1870 was characterized in a letter to the Boston Evening Transcript as â€Å"a woman who has fallen into the sins of the wayside†¦ too weak to resist the temptations which have beset their unguarded footsteps† (Vogel 26). Similarly, the hospital nurse was characterized by Florence Nightingale, the 19th-century British reformer, as â€Å"too old, too weak, too drunk, too dirty, too stolid or too bad to do anything else† (Reverby 26). Hence, stringent rules governing general behaviors regarding sex, language, and use of alcohol and tobacco were enforced for both patients and nurses in the hospital. Although nurses lived in close proximity to the patients, they were forbidden to socialize with them. In order to prevent them from socializing or drinking with the patients, nurses were kept busy from 5:00 a.m. until 9:30 p.m. They were continually scrubbing patients, garments, and wards, since sanitation was the only method of disease prevention in the 19th-century hospital. When they had completed these tasks, they were given innumerable others to keep them in line. In addition to such domestic tasks, nurses were often responsible for providing more serious health care in the doctor’s frequent absence as well. They often managed labor and delivery cases independently. This forced nurses to exercise independent medical judgments, despite doctors’ prevailing expectation that nurses would be completely subservient to them. With the taste of autonomy, nurses began to expect greater latitude in their work. They began to see themselves as adult wage workers, not children to be controlled by the hospital â€Å"family,† as the hospital trustees portrayed the workplace. The face of nursing changed during the Civil War. Middle- and upper-class women, motivated by patriotism, familial duty, or simply a search for meaningful work, began to work in hospitals, nursing wounded men, and raising funds for the war (Mottus 65). The unsanitary and disorganized conditions in army hospitals led to the emergence of relief associations. You read "Nursing: Years Ago and Today" in category "Essay examples" In 1861 the Women’s Central Association of Relief was formed with the explicit purpose of â€Å"furnishing comforts and medical stores, and especially nurses in aid of the medical staff of the army†¦ and to take measures for securing a system of well trained nurses against any possible demand of war† (Mottus 24). Drawing on Nightingale’s British model of army nursing, the Registration Committee on Nurses sought prospective applicants with specific qualifications: they were to wear dresses without hoops, provide references confirming their high moral character, and be no older than 45 years of age. Nurses trained according to Nightingale’s nursing model, learning the laws of both morality and hygiene. The post-Civil War years, characterized by remarkable economic growth, the rise of industrial corporations, the decline of small entrepreneurs, and the emergence of urban America, engendered the expansion of relief organizations and the development of new charity organizations. Both were controlled in large part by middle- and upper-class female reformers. These women, many of whom had participated in organized nursing during the Civil War, focused on reforming the moral character of the poor, soiled by the ravages of urban society (Lubove 4-5). The expansion of the charity organization movement represented another response by a troubled middle class to the social dislocation of the post-Civil War industrial city: â€Å"Charity organization was a crusade to save the city from itself and from the evils of pauperism and class antagonism. It was an instrument of social control for the conservative middle class† (Lubove 5). In the post-Civil War hospital, middle-class women joined forces with hospital trustees and developed training schools for nurses. The reformers’ purpose was to â€Å"save† the country girl from the city, foster a profession of nursing, and reform the hospital. They attempted to carry out this goal by developing a cadre of trained, professional, middle-class nurses. The hospital trustees, however, sought nurses as a cheap labor force for the hospital. During the depression years of the 1890s, the hospital moved away from being a charity organization (Rosner 119). Philanthropists, affected by financial crises themselves, were no longer able to be the sole supporters of the institutions. Hospital trustees turned to the middle-class patient as a new source of income for hospitals. This change motivated trustees to alter the hospital’s architecture as well as its workforce. Its image became more hotel-like, with private rooms, private doctors, and private nurses. The reformers convinced the trustees that young, educated nurses of middle-class origins would be more appropriate caretakers for wealthier patients than untrained, working-class nurses. Hence, while the middle-class reformers were attempting to create a profession for respectable middle-class women, embodying Victorian America’s idealized vision of upper-class womanhood (empathy, gentility, and dedication to service), the trustees were still seeking an inexpensive yet disciplined workforce. The middle-class student nurse was their answer. One of the first training schools for nurses emerged in 1889 at the Johns Hopkins Hospital as a joint effort between the women reformers and the hospital trustees. They sought applications from Episcopalian and Presbyterian daughters of the clergy and the professions (James 214). The reformers hoped such a school would become the new social incubator for daughters of the new middle class. They sought only educated and refined students; women who had previously worked in the mills or domestic service were discouraged from applying. The reformers argued that only women with proper, virtuous backgrounds could enhance the moral atmosphere of the hospital. Student nurse training meant working 13-hour days at domestic duties under strict military discipline. Understaffing and medical emergency continually forced students into positions for which they were unprepared. These poor work conditions of overwork, lack of adequate training, bad food, and arbitrary discipline took their toll on the students, resulting in the 1910s in strikes against nursing supervisors (Reverby 37). During the 1930s and into the 1940s the private duty market collapsed altogether (Melosh 197). The new array of hospital techniques for both patients and nurses fostered a new role for some nurses, however: that of hospital foreman, supervising a new hierarchy of subsidiary nurses. The nursing professionalizers urged hospital administrators to hire educated graduate nurses of middle-class origins for these positions. Administrators were not hard to persuade on this point since they were able to hire nurses with more education and experience for the same wage as the student nurse, given depression-era unemployment. At first, grateful for work, graduate nurses accepted this condition. In time, however, graduate nurses responded to this situation with unrest, high rates of absenteeism, and turnover. Conflicts between adherents of the more elitist, human capital interpretation of professionalism and proponents of the need to work continue to resonate from staff and head nurses today. Many staff nurses claim that besides taking care of patients, they’re working to put shoes on their children’s feet and nursing administrators just don’t see that they work to support their life outside the hospital too. Such a comment was just as appropriate in the 1880s as it was in 1985. The same debates still rage on. Besides, there are two current health care issues facing the profession of nursing today: a misdistribution of nurses across the United States and burnout, both noted as causes for a nursing shortage.   There is a misdistribution of nurses across the United States and there are at least two apparent reasons for this: geographic immobility and a lack of incentives for rural and inner-city hospitals. Nursing is a very demanding and stressful profession. Burnout is described by Annette T. Vallano in Your Career in Nursing, as a form of mental, physical, emotional, spiritual, and interpersonal exhaustion that is not easily restored by sleep or rest.   Nurses experience burnout when they are overwhelmed and unable to cope with the day-to-day stress of their work over long periods of time.   Burnout may also be a reason that many nurses have decided to work only part-time, thus burnout may be a contributing factor to the nursing-shortage problem. All in all, nursing has evolved from the days of Florence Nightingale to a highly respected and educated profession.   But there are challenges for the future.   In short, â€Å"the nursing profession needs to begin to recognize new trends and patterns† (Lowenstein1), while also recognizing â€Å"it is crucial that nurses learn to generate new ideas for care, utilizing the new medical and communication technologies that are blossoming daily, but also keeping our high touch together with the high tech† (Lowenstein 1). Works cited Edwards, Richard. Contested Terrain: The Transformation of the Workplace in the Twentieth Century. New York: Basic Books. 1979. Berg, Barbara. The Remembered Gate: Origins of American Feminism: The Woman and the City, 1800-1860. New York: Oxford University Press. 1978. James, Janet. â€Å"Isabel Hampton and the Professionalization of Nursing in the 1890s†. In Charles Rosenberg and Morris Vogel (eds.), The Therapeutic Revolution. Philadelphia: University of Pennsylvania Press. 1979. Lowenstein, Arlene. â€Å"Vision for the future of nursing.† ICUS NURS WEB J, 16, Oct/ Dec 2003 http://www.nursing.gr/editorialLowenstein.pdf. Lubove, Roy. The Professional Altruist: The Emergence of Social Work as a Career, 1880-1930. Cambridge: Harvard University Press. 1965. Melosh Barbara. The Physician’s Hand: Work Culture and Conflict in American Nursing. Philadelphia: Temple University Press. 1982. Mottus, Jane E. New York Nightingales: The Emergence of the Nursing Profession at Bellevue and New York Hospital, 1850-1920. Ann Arbor: University Microfilms International. 1980. Reverby, Susan. Ordered to Care: The Dilemma of American Nursing, 1850-1945. New York: Cambridge University Press. 1987. Rosner, David. A Once Charitable Enterprise: Hospitals and Health Care in Brooklyn and New York, 1885-1915. New York: Cambridge University Press. 1986. Vallano, Annette. Your Career in Nursing. Kaplan; 3rd edition. January 3, 2006. Vogel, Morris. The Invention of the Modern Hospital, Boston, 1870-1930. Chicago: University of Chicago Press. 1980. ; How to cite Nursing: Years Ago and Today, Essay examples

Competitive Procurement of Auditing Services

Question: Discuss about the Competitive Procurement of Auditing Services. Answer: Introduction: The scope of occurring misstatement in case of monetary reports mainly depends on the different types of risks and their levels especially that are related to the non-financial and financial factors of a firm. Therefore, it can be said that accurate process of auditing can help a firm to reduce all the aspects that are related to risks and also to demonstrate the fair and true financial situation and presentation of the business entity (Messier Jr, 2016). However, there are some aspects that the process of auditing cannot control in a proper way. In term of auditing, the risks regarding any omission or error in the fiscal declaration that occurred due to unmanageable features are considered as intrinsic risks (Porter, Simon Hatherly, 2014). These risks generally occur due to high complication in the fiscal declaration and incorporation of financial assumptions. It can be said as per the fiscal declaration of the firm One Tel that in year 2000, the business had executed poorly. Nevertheless, the poor execution of the firm did not affect the monetary condition of the business largely. Moreover, the particular firms balance sheet represents the monetary position of the business in the year 2000 was comparatively superior to prior year. This disparity in the fiscal declarations represents that some intrinsic risk aspects are related to the monetary statements. Intrinsic Risk Aspects at the Level of Fiscal Report The fiscal reports imply the final results of all activities of a business along with fiscal transactions of the firm. Thus, this represents all omissions along with errors that occurred due to different intrinsic risks that are related to the activities of business (Hayes, Wallage Gortemaker, 2014). It has been found that are various aspects that are accountable for raising the level of intrinsic risks. The marketing plan is considered as an intrinsic risk and the statement of cash flow along with profit and loss statement of the firm One Tel represent that the particular firm has failed in generating enough income amount from operating actions that are considered as basic. Intrinsic risks might also occur due to inefficient planning of marketing (DeFond Zhang, 2014). Generally, these plans are structured to attract huge consumers and also to raise the firms profit. On the basis of nature of customer and prediction of future condition of market, marketing plans are structured. Thus, it can be said that effectiveness depends on the correctness of behavioral analysis and prediction of market condition. However, if the business fails to scrutinize the consumers nature accurately, then this might not be effective of prepare an efficient marketing plan. In addition to these, the prediction of the market condition is considered as complicated and it includes different aspects of politica l, social and economic condition. It is impossible to cover all the factors during preparation of marketing plan but in order to prepare an efficient plan, it is mandatory to cover those factors that are closely associated with the product nature and business venture (Furnham Gunter, 2015). Nevertheless, if any mandatory aspect is avoided, then the particular plan is not counted as efficient one. An auditor is not liable for controlling the effectiveness of the marketing plan, thus, the aspects raise the level of intrinsic risks significantly in the fiscal reports. On the other hand, change in the behavioral nature of the clients is also considered as an intrinsic risk that might influence the fiscal declarations. In telecom sector, clients generally change their service providers of network frequently in order to attain profitable offers and schemes. Thus, advertisements campaign and attractive strategies of marketing should be implemented in order to attract more clients by the telecom firms by providing unique offers. However, they face huge disputes regarding retaining the clients for long period of time. As the changes of the behavior and nature of customers in case of telecom industry is very fast, this influences the sales of the firm and alters fiscal results of various monetary time periods (Eilifsen et al., 2013). Moreover, the employees and workers of a firm might also generate intrinsic risks at the level of fiscal reporting. This level of risk is comparatively higher than total numbers of inexperienced and new staffs of a firm. The level of productivity of a firm is relied on the efficient level of the staffs. This level generally depends on the training, dedication and experience of the staffs. It is a common factor that the new employees might not perform high quality of outputs at desired level due to inexperience (Nigrini, 2012). On the other hand, the old or experienced staffs might also fail due to different causes. Thus, the firm should implement new policy regarding employment that might develop negative influence on the staffs. Additionally, staffs require motivation in order to perform well as per the desire of the management. Furthermore, if the firm implements new system or technologies, the skills of the staffs should also be improved by the management. Thus, the employees shou ld provide accurate training program for updating their knowledge and skills in order to serve better service. Determination of Intrinsic Risks Aspects during Assessment of Strategic Risks of Business It has been found that different risk factors have been identified during the assessment of the risks of the business. The different kinds of procedures of risk assessment along with sensitivity analysis, the management of the firm can obtain the various levels of risks that are related to the aspects. It can be said that the other planning of business along with operational planning is considered as one of such aspects. Therefore, the management identifies different risks that are related to the new plans of venture by scrutinizing the plan in detail for other situations (Knapp, 2012). Moreover, the market condition is also considered as another aspect that influences the fiscal reporting of the firm. The firm is able to assess different risks that are related to changes in the future market through the help of accurate analysis and market research. In addition to this, the economic situation of the country also raises the level of risks. The risk is related to global or domestic economy, the change in the cost-effective factors and to analyze the different data of economy periodically. The particular firm might also suffer from changes in the policies of government. Thus, by scrutinizing the changes in the structure of the government along with its declarations from the end of the administration, the firm can achieve the risk features that are related to new policies of the government. Generally, the intrinsic risks occur on the account of activities of the entities, account nature, operational activities and its environment. The features of the management department of a firm and the history of the mistakes are considered as the major factors of the intrinsic risks (Causholli et al., 2013). The errors that influences the fiscal declaration of the business i.e. the risk factors that are related to the accounting equilibrium and the identification of intrinsic risks help in assessing risks. The balance accounts undergo sufferings from different intrinsic risks factors and by assessing these risks it can help the firms auditors and also adds to the raised assessment of risks. The aspects which are counted for balancing accounts are regarded as high volume transactions, which are non-routine in character. It has been found that certain adjustments are made in balances of accounts that are extinct in common routine procedure of the organization. The complicated transactions are made in the accounts of steadiness. Thus, the auditors should assess the involved risks in the process of auditing the balanced account by taking the aspects of intrinsic risks into consideration. It has been found that certain intrinsic risks should be assessed on the basis of the aspects that are related to fiscal reporting as this depicts the outcomes from original protuberance. There are certain fiscal transactions or monetary transactions that are required to be delighted with the complicated calculation and also when the simple calculations are implemented, then it is considered as misstated. The particular firm that is in an unstable monetary condition intends to assemble the agreements which have wider inducement in order to misstate the monetary condition and thus it takes place inherently (Chen, Srinidhi Su, 2014). However, if an organization represents its monetary data and information wrongly or had made any inconsistencies in the accounts of the prior year, then it is inherited likely to the current situation in the similar form. These specified aspects are mainly counted in order to assess the intrinsic risks by the auditor of the firm. The intrinsic risks in the monetary declaration influence the probable results and the operations of the particular venture. During the time period, when the auditors of a firm assess the intrinsic risks, then the aspects that affect the decision and the prejudice of the fiscal declarations are taken into considerations (Rahman, 2014). The particular factors that are counted are the capability and truthfulness of the administration and the beginning interview, which occurred with the management department of the firm. On the basis of the assessment, the auditors of the firm find out if there are any transactions which are considered as unusual with an important outsider or party. Based on the companys history, the estimates regarding meeting of the analysts are considered. For instance, the CFO of a firm was considered liable to engage in fraud-concerning securities. The CFO was engaged in a plan that considered backdating stock option grants. The fraudulent was regarding management integrity. The inappropriateness of fiscal reporting was credited to failure of accountant of the firm for maintaining a proper record regarding accounting. The going concern theory implies that an organization expects to run the operations of its business for indefinite time period and will also not liquidate in near future. An organization that is considered as a company is regarded as the part of the particular theory under statutory guidance. The monetary declaration users generally scrutinize the various statements for measuring the capability of the firm to continue its operations. There are three factors which are scrutinized for measuring spontaneous prospect of the firm; these are solvency, profitability and liquidity. Liquidity of firm helps in determining that the firm is able to cover all its present liabilities or not. It also depicts that the firm has enough working capital for operating the activities of business (Rahman, 2014). However, if the firm does not has enough liquid assets then this might pilot to liquidity insolvency and this might result into discontinuation of activities. The current ratios of the firm One Tel for the year 1999 and 2000 are as follows: Figure 1: Current Ratio (Source: Created by Author) The solvency ratio helps in measuring financial situation of the fir. This also helps in understanding the capital structure of the firm. The solvency of the firm has been measured through Equity ratio, debt ratio and Debt to Equity ratio and this has been calculated for the firm One Tel for the year 1999 and 2000: Figure 2: Solvency Ratio (Source: Created by Author) The profitability ratio indicates the percentage of profit earned by a firm in a particular period of time. This implies that whether the firm has presented efficiently or not and whether it has earned enormous amount of profit or not in a specified period (Cannon Bedard, 2015). For understanding the profitability condition of the firm One Tel for the years 1999 and 2000, Return on equity, return on capital employed and return on assets have been calculated as follows: Figure 3: Profitability Ratio (Source: Created by Author) The above graphs indicate that current ratio of One Tel reduced with the passage of time, though it is more than 1.5 i.e. the industry standard. On the other hand, solvency ratios have increased due to decrease in total liabilities and rise in total equality and assets. However, profitability ratio is a concerned matter as in the year 2000 the firm incurred a huge loss that resulted the return into negative. The cash flow statement implies that One Tel failed to develop adequate cash revenue for meeting the expenses of business operations. Thus, it resulted into shortfall of cash funds and the firm continued its business from additional capital funding and retained earnings by issuance of new stocks. 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