Study On Lavipharm And Computer Financial Modelling Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2622 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Lavipharm S.A was established in 1911 and is today a leading pharmaceuticals company with operations in Greece and major international markets such as the USA and France. The Company is mainly a commercial distributor not only of drugs but also of cosmetics. Lavipharm S.A offers products derived from own research as well as high-level services not only to pharmacists but also to consumers. Don’t waste time! Our writers will create an original "Study On Lavipharm And Computer Financial Modelling Finance Essay" essay for you Create order A pioneer in the area of pharmaceutical technology, Lavipharm S.A develops new dynamic strategies that are flexible in the constantly evolving international environment, but are always in line with its vision. At the same time Lavipharm S.A discusses and reviews new collaborations regarding its reinforcement and expansion not only in the Greek but also in the international scene. The companys strongest elements are its strategic focus on the pharmacy market, it research and development and its international co-operations. In Greece it develops, represents, markets and distributes its own RD products as well as products for third parties. Lavipharms market shares which are mostly therapeutic are: 1st position in antiseptics with a percentage of 52.8% 1st position in drugs for cardiovascular diseases, with a percentage of 46.5% 2nd position in drugs concerning the central nervous system, with a percentage of 36% 4th place in anti-lice products with a percentage of 9.7% The company utilizes an extensive network of agents, medical assistants and professionals promoting pharmaceuticals sales of its own account, as well as for third parties. The pharmaceutical industry in Greece Demand The analysis of the drug demand includes both the description of the factor that determine it, such as demographic and epidemiological characteristics of the population and secondly the approximation of the time path through the sizes of pharmaceutical expenditures. According to the National Statistical Service, in 2006 the Greek population exceeded 11.1 million. Furthermore, in 2007 there were 111.9 thousands of births and 109.9 thousand of deaths.  The average lifespan increases significantly, reaching almost 79.6 years. However, apart from the increase in life expectancy, the  age composition  of  the  population  contributes  more to the  pharmaceutical expenditure. It is clear that half of the population which is still economically active maintains all the others. In 2007 the pharmaceutical expenditure amounted ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬5.4 billion representing the 21.6% of the public expenditure. It is noted that drugs are a small part of health expenditures whilst also a social good as the relative cost is covered by 86.5% from the social security. Pharmaceutical expenditure in Greece is associated with the rise of consumption of drugs as a result of socio-economic and financial factors. Specifically, the ageing population and new discoveries of science are factors that lead to an increase in the consumption of drugs. 2010  was  undoubtedly  one  of  the most challenging periods in recent years, with major changes at all level of the national economy. Specifically, the Greek drug market suffered a lot of disruptions since the beginning of the year which significantly affected sales at pharmaceutical companies. Change s in drug prices were successively held in early June and September prompted a decrease in reserves and resulted in a significant drop in sales, slowing the activity level and influencing margins in the industry. Supply In 2007, there were 150 pharmaceutical wholesales and drugs cooperatives. These numbers rank Greece in the 3rd position in Europe, as there were only 9 in France and 16 in Germany. Moreover, relatively to the population, Greece has got the greatest number of pharmacies among other countries of Europe (94.2 pharmacies per 100.000 citizens). During 2009, the total amount of sales was ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬5.5 billion, the 72.5% of which has been sales to wholesalers and pharmacies, while the rest were drained to hospitals. Moreover, both the productivity and investments in the sector as well as the number of employees rose. Exports The Greek pharmaceutical sector has become much more extraverted in recent years than it did in the past. Companie s export in about 60 countries all over the world and in almost all EU countries. Furthermore, Greek companies have been modernized, with a significant acceptance by other countries as to the quality of the drugs they produce, constantly opening to markets. Porters five forces analysis Fig.1: Porter, M., (1980), Competitive Strategy, Free Press, New York. Bargaining power of suppliers Lavipharm depends upon organic chemicals suppliers. The chemical industry is very competitive and fragmented. The chemicals used in the company are largely a commodity. The suppliers have very low bargaining power and Lavipharm can switch from them without incurring a very high cost. However, what can happen is that the supplier can go for forward integration to become a pharmaceutical company Bargaining power of customers Customers of the companies that constitute the industry are mainly pharmacies and wholesalers. Their bargaining power is limited, as the profit margin is institutio nally limited. It is claimed that only the big companies of the industry have some bargaining power, which is relevant to the amount of products they trade. This, give them flexibility and an ability of negotiation as for the trading conditions. Threat of new entrants The pharmaceutical industry is governed by a specific institutional framework which creates strong obstacles in new entries. Moreover, new entered competitors have to deal with a significant amount of required capital and the creation of a sufficient promotion network. In the pharmaceutical industry, a new entrant may be faced with various hurdles erected by established businesses, such as: Economies of scale manufacturing, RD, marketing, sales, distribution product differentiation established products, brands and relationships capital requirements and financial resources access to distribution channels: preferred arrangements regulatory policy: patents, regulatory standards switching costs e mployee retraining, new equipment, technical assistance The number of companies is already significant, as there are also international instances apart from the Greek once, and covers the needs of the market. Threat of substitute products There are no substitute products for medicine. This is one of the great advantages of the industry. Whatever happens, demand for pharmaceutical products continues and the industry thrives. One of the key reasons for high competitiveness in the industry is that as an ongoing concern the pharmaceutical industry seems to have an infinite future. Competitive rivalry within an industry The total pharmaceutical industry is characterized by a strong competition because of the large number of companies. Strong strategic movements are used from the side of the industrys companies, through of which they try to create expanded partnerships with collaborations and mergers. They move to acquisitions and establish subsidiaries in order to cope with competition. The larger companies of the industry make investments so as to replenish the mechanical equipment they owe and continuously invest on research and development of new products. In the table shown above, 20 of the largest companies with international presence are classified in accordance to the amount of sales they achieved in 2008. Table 1: The 20 largest international pharmaceutical companies, ranked according to the amount of global sales in prescribed medicine, (2009), IMS Health According to an ICAP research which was held in 2008 the three Greek leaders of the industry are: Genesis Pharma: the first purely Greek company. In 2008 its sales reached ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬220 million and its profits ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬31 million. Elpen: After an increase of 15% its companys turnover approached ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬121 million in 2008. Accordingly, net income increased by 27.3% and reached ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€š  ¬11.4 million. Demo: Demo was established 42 years ago. During 2007 and 2008 it investment activities reached ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬40 million. Its turnover was ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬90 million while it had a profit of ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬696.000. SWOT Analysis Strengths Weaknesses Products with popular trademarks Organised distribution channels Market experience There are no subsidiaries for drugs, as it is an irreplaceable good Increased demand for drugs as a matter of the increased life expectancy Innovative drug solutions by its international holdings In Greece there is a significant delay on the payments from the side of the public sector (up to 12 months) Difficult to take the licence of authorization for new products The industry of pharmaceuticals is rigid Not a good financial position Opportunities Threats Development of organic and homeopathic medicine Use e-commerce as a new distribution channel for the sector of cosmetics Participation in research processes Enhance of the export activities Changing way of pricing policies of drugs Increased amounts of counterfeit medicine Strong competition from international companies By law, the amount of money which could be used for promotion can be limited Low margins, as in Greece the prices of drugs are regulated by the governmentFig 2: SWOT Analysis Strengths Weaknesses Alternative strategies for Lavipharm S.A Products with popular trademarks Organised distribution channels Market experience There are no subsidiaries for drugs, as it is an irreplaceable good Increased demand for drugs as a matter of the increased life expectancy Innovative drug solutions by its international holdings In Greece there is a significant delay on the payments from the side of the public sector (up to 12 months) Difficult to take the licence of authorization for new products The industry of pharmaceuticals is rigid Not a good financial position Opportunities S O Strategies W O Strategies Development of organic and homeopathic medicine Use e-commerce as a new distribution channel for the sector of cosmetics Participation in research processes Enhance of the export activities S2, S3, S5 O4 : Expand abroad and meet the demand S3, O1: Focus on organic and homeopathic medicine and occupy new market shares W4 O2, O4: Use e-commerce to increase sales and decrease administrative expenses Threats S T Strategies Changing way of pricing policies of drugs Increased amounts of counterfeit medicine Strong competition from international companies By law, the amount of money which could be used for promotion can be limited Low margins, as in Greece the prices of drugs are regulated by the government S2, S3 O3 : Decrease threats from competition by taking advantage of the market Fig 3: SWOT Matrix Analysis Strengths One of the main points of industry is the nature of the products and the market they appeal. Drugs are an irreplaceable good with a continuously increased demand. Greek pharmaceutical industries have developed promotion networks as well as a successful growth in research and development of new products. Moreover, during the last decade Greek companies achieved increased exports of their products in almost EU countries as well as to other countries all over the world. Weaknesses The weakest point that the industry faces is the institutionally controlled p rofit. Furthermore, the public health funds significantly delay their accruals to the companies, usually for about 12 months. This factor in accordance to the limited funding from the side of the banks threatens the operating capital of the companies. Also, it is time and money consuming for a company which has developed a new product to take the licence needed in order to have the acceptance to place this product on market. Opportunities Actions of researching and developing new types of products, as for example homeopathic and biological medicine, as well as the enhancement of their brand names refreshes the demand for products and as a matter of fact commerce. Moreover, e-commerce can play a vital role for the industry and enhance not only their recognition from the market but also decrease the amount of operational costs. Threats A serious threat for the industry is the expansion of foreign companies in the Greek market. Thereby, the share of the market that its comp any is addressed is getting smaller and competition increases. What is of equal importance is the fact that over the last years a serious amount of counterfeit medicine have been detected and sometimes confiscated at their attempt to enter European borders. Scenarios Scenario 1: Stability In this scenario it is assumed that the company will continue to operate like it did during the last year.  Scenario 1 Sales Growth Rate 0.24% Cost of Goods/Sales 74.59% Administrative Expenses/Sales 36.87% Fixed assets growth 3.73% Table 2: Stability scenario The sales growth rate is 0.24%. Even though the percentage is very low, it could be claimed that mainly because of the global financial crisis, it presents reality. As a matter of fact, the company is going to continue its businesses by producing, promoting and selling the same products. All ratios are considered to remain stable. ROA as well as ROE are slightly increasing during the forecasting years even though they are still negative. The net present value of the company is ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬99,974,275.01 and its value of shares is ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬1.14. What is disappointing in this scenario is that net earnings are increasingly negative over the forecasted period. Scenario 2: Maturity In this scenario it is assumed that the company will continue its operations and gradually mature.  Scenario 2 Sales Growth Rate 3.73% Cost of Goods/Sales 74.59% Administrative Expenses/Sales 36.87% Fixed assets growth 3.73% Table 3: Maturity scenario It is assumed that the sales growth rate will be 3.73%. In fact, this a rather optimistic scenario as the financial crisis has affected the pharmaceutical sector as well. The company is going to operate in the average of the last five years and gradually enter the maturity phase, by selling apart from the already existing products some new developed ones. All the other ratios will remain stable. It could be claimed that the increase on sales could be a result of developing new lines for the company products, as for example biological and homeopathic. The examination of this scenario shows that this could be a very good perspective for the viability of the company. Net present value of the company significantly increases (ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 192,254,228.74) and the value of its shares reaches ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬2.98. It is proposed that the company should re-organize its operations, handling expenses in a differe nt, more efficient way. Scenario 3: Harsh competition In this scenario it is assumed that the company will face harsh competition.  Scenario 3 Sales Growth Rate 2.50% Cost of Goods/Sales 74.59% Administrative Expenses/Sales 28.00% Fixed assets growth 3.73% Table 4: Harsh competition scenario Despite the good position that the company has achieved to gain, there is always the threat of displacement by other competitors, not only new but existing as well. It is a common phenomenon especially nowadays because of the financial crisis, having companies merged and conquers very good market positions with significant power. The sales growth rate of the company s considered to be less than the previous examined years. If Lavipharm S.A has to deal with such a case in the future it should make efforts to decrease its expenses. Net present value continues to be positive and equal to ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬69,211,229.95 and it value of shares ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬0.53. Scenario 4: Enter new markets In this scenario it is assumed that the company will expand in new markets apart from those in which it already does.  Scenario 4 Sales Growth Rate 6.50% Cost of Goods/Sales 74.59% Administrative Expenses/Sales 36.87% Fixed assets growth 8.00% Table 5: Enter new markets scenario Lavipharm S.A has embarked in an international course since 1984. France was its first international attempt which was followed by USA and Cyprus. Balkan countries are a very attractive destination for the majority of the Greek companies. This scenario requires an increase in fixed assets as the company is going to need buildings and this is the reason why fixed assets growth is almost doubled. It is also estimated that sales growth rate will increase by 6.50% considering the demand in the new entered country. If this scenario happens, then the NPV of the company will become ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬985,454,204.64 and its value of shares is expected to be ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬18.82. Even though the companys cash flows are expected to significantly fall and remain negative. Conclusions As it is presented in the scenarios analyzed above, net present value of the company will remain positive, but its cash flows are in all cases expected to be negative. This is a very crucial observation, important for the viability of Lavipharm. The market experience and its presence, not only in the Greek market but the US and Cyprus as well, cannot change the already bad financial position of the company. At this current time, Lavipharm should be well prepared and ready to handle any situation which may lead to unpleasant and risky for it situation. Its capital should be efficiently and effectively managed.

The Inspirations from the Mayan Ballgame - 1515 Words

The Pre-Columbian peoples of the Mesoamerican area are a population that has since fascinated historians and archaeologists to this day. Exploration and investigation has brought to light the great advancements these civilizations made in the areas of art, technology, and even astronomy. By means of examining and analyzing the remains, the massive structures and artifacts left behind by the early people of these civilizations, we have come to know of their rich culture and traditions. One group that we know a great deal of, the Classic Maya, exhibited a culture that was not only sophisticated and ahead of its time, but also one of great art and rituals. What was of great significance to these people was the Mayan Ballgame. The†¦show more content†¦These Lords stand for all that is bad. Death, disease, sadness – everything is now restricted to the Underworld. According to the Popol Vuh, after their defeat â€Å"only the worthless will yield themselves before [t he Lords].† No longer would the Lords torment randomly, only those that deserve it. This tale teaches the Mayans to act morally. The Twins exhibit qualities of virtue and devotion and were even resurrected into the heavens. This gives the Mayan people a reason to act in a way the Twins would have, in hopes gaining everlasting life with the gods. This tale of the first ballgame played, between Lords and gods, is a tale that teaches the Mayans the proper way to behave, and has taught historians of the higher powers that guide their actions. The Popol Vuh tells the origins of the ballgame, and it is so significant to the people that it is ritualized for generations. The Mayan ballgame is also important in that it was crucial in their rituals and civilization, being almost at the center of Mayan culture. According to the article written by Friedel, Schele, and Parker, the ballgame served as ritual ceremony – a reenactment of the first ballgames ever played between the Hero Twins and the Lords of the Underworld. The authors stated that players would wear headdresses and godly symbols personifying the gods or Dieties. The players representedShow MoreRelatedMarketing Mistakes and Successes175322 Words   |  702 Pageswell-known successes. While mistakes provide valuable learning insights, we can also learn from successes and find nuggets by comparing the unsuccessful with the successful. With the addition of Google and Starbucks, we have moved Entrepreneurial Adventures up to the front of the book. We have continued Marketing Wars, which many of you recommended, and reinstated Comebacks of firms iii iv †¢ Preface rising from adversity. I have also brought back Ethical Mistakes, because I believe that organizations

Famous Life Quotes - A Select Collection

What is this life if full of care; we have no time to stand and stare. These famous lines from the poem Leisure by W H Davis sum up my attitude towards life. The life we lead must be worth living.Think about it. Every one gets the same twenty four hours in a day. But only a handful realize the value of time. Make sure to utilize your time wisely. Dont pursue unattainable goals and remain disappointed. Real happiness lies in enjoying every moment of your life, doing what you wish to do. Build your life, minute by minute, with memories of love, kindness, and courage. Reflect on the words of famous people. Understand their perspective about life, and gain new knowledge. A Zen SayingSit quietly, doing nothing, spring comes, and the grass grows by itself. Ernest L. WoodwardSo great has been the endurance, so incredible the achievement, that, as long as the sun keeps a set course in heaven, it would be foolish to despair of the human race. Ralph Waldo EmersonSo much of our time is preparation, so much is routine, and so much retrospect, that the path of each mans genius contracts itself to a very few hours. Samuel JohnsonSome desire is necessary to keep life in motion. Thomas FullerSome have been thought brave because they were afraid to run away. Jane RubiettaSomeone may have stolen your dream when it was young and fresh and you were innocent. Anger is natural. Grief is appropriate. Healing is mandatory. Restoration is possible. Stephen CoveyStrength lies in differences, not in similarities. Kenneth HildebrandStrong lives are motivated by dynamic purposes. Vincent LombardiSuccess demands singleness of purpose. Booker T. WashingtonSuccess is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome.

Satire Modest Proposal Essay - 837 Words

Effectively ushering change in society or pointing out faults that have existed and gone unnoticed can be a daunting task for any social commentator. Often, blandly protesting grievances or concerns can fall upon deaf ears and change can be slow or non-existent. However some social commentators, such as Jonathan Swift in his pamphlet A Modest Proposal, use clever, targeted, and ironic criticism to bring the social state of Ireland to the attention of indolent aristocrats. He accomplishes such criticism through satire, specifically Juvenanlian satire. Swift’s A Modest Proposal stands as a perfect example of the type of satire that plays upon the audience’s emotion by creating anger concerning the indifference of the voice created. He†¦show more content†¦Contrastingly, such morally unconventional solutions would not exist in a calmer, straight forward Horatian satire. Swift’s development of the absurd proposal for eating young children so that â€Å"the poorer tenants will have something valuable† or that there â€Å"would be constant customers for infants flesh† is enhanced by numerous examples of biting irony. Such irony exists even in the title: â€Å"A Modest Proposal.† Upon reading the text, the audience can agree that Swift’s proposal is far from modest and such irony servers to enrage and puzzle the readers to the point that they question why he would be using such shifting, ironic diction. Swift’s use of absurd logic to his proposal supplements the effectiveness of verbal irony, since no one would believe that children should be eaten to improve â€Å"in the art of making good bacon†. The aforementioned examples illustrate Swift’s craftiness and the use irony to almost mock the audience. In true Juveliean fashion, such techniques are designed to arouse the reader to anger and suspicion of what is trying to be said. A satire based on the Horatian type wouldn’t use such blatantly offensive irony. Rather, the tone of voice would be â€Å"gentler, more good humored and sympathetic† (â€Å"Horatian Satire†). In contrast to such an authorial voice, Swift, throughShow MoreRelatedSatire In A Modest Proposal2026 Words   |  9 Pagesit still a common theme today, though which particular characterizes makes someone privileged continues to change over time. In Jonathan Swift’s essay â€Å"A Modest Proposal,† Swift uses the elements of satire to ridicule Irish oppressors, specifically the Catholics and the rich. LITERARY ANALYSIS One of the most commonly used elements of satire is irony, which Swift uses freely to show the monetary and religious divisions in Irish society. 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The Effect of the Northern Drilling Free Essays

A deep subsurface rock core for paleoclimate reconstruction was collected in October and November 2007 during the South McMurdo Sound Project (SMS) of the Antarctic Geological Drilling Program (ANDRILL). To allow for deeper penetration and more efficient core recovery, water-based saline drilling fluids were utilized. A total of 5. We will write a custom essay sample on The Effect of the Northern Drilling or any similar topic only for you Order Now 6Ãâ€"105 L of fluids was lost in the subsurface. The fluid was comprised of surface seawater from the sound, as the wetting agent mixed with densifying compounds (mainly potassium chloride and small amounts of fourteen other compounds including biodegradable organics). When exploring pristine locations a main goal needs to be minimizing the amount of biological and chemical contamination. Introducing a contaminant such as drilling fluids could negatively alter the in situ conditions; affecting the environment even after the exploring party has departed the system. The fate of contamination on the subsurface environment from invasive exploration methods into pristine environments is not well known. In this study, computer models (MODFLOW, SEAWAT) that are used by hydrogeologists to establish the fate and transport of contamination were utilized to determine the extent of the drilling fluid contamination from the sea floor to 1100 mbsf. In these models, previously collected logs for lithology, porosity, fracture density, drilling fluid loss, drilling fluid characteristics, and temperature were used as different parameters in the model. In addition, biodegradation and sorption constants for the drilling fluid were determined. These factors are important to determine the extent and half-life of the drilling fluids in the subsurface. Samples of drilling fluids used during coring and return fluids were collected from the drill site and were used to determine the biodegradation of the drilling fluids. The overall goal of this research project is to utilize the rich data set provided by SMS ANDRILL and some basic la How to cite The Effect of the Northern Drilling, Essay examples

Internet and its Extra Gracious Role in the Common Life

Question: Discuss how the internet has impacted information privacy. Answer: The origin of internet was in the 1960s when the US Federal Government commissioned a research to build a robust communication system using computer systems (Bill Stewart, 2000). The first network thus built was called the ARPANET which was the precursor to modern day internet. It was used for communication across regional military and academic networks. Bolstered by the success of this technology, The National Science Foundation Network provided the initial funding along with several other commercial interests which led to the merger of many such networks, which marked the beginning of the transition to modern internet (Peter, Ian; 2004). From 1995 to 2015, the Internet has managed a growth rate which has enabled the number of users to grow a hundred- fold (Treese.org. 1995 and Miniwatts Marketing Group, 2012). The internet captured the imagination of every industry and quickly began to assimilate technology with these fields. Some of them are: Communications media like television, radio and telephony have been completely reshaped by the Internet to give totally new services such as Internet television, Internet Radio and Internet Telephony, Web Conferencing etc. Books, newspapers and print publishers are fast adapting to the internet and converting to web feeds and blogs. Several means of interaction have been made possible by the internet like internet forums, social networking, e- mail and instant messaging. Commerce has gained a massive push due to concepts like online shopping, online trading of shares, commodities, debentures, managing supply chains across continents etc. and helped people across various fields of life including artisans, traders, businessmen and many more. Issues of Privacy: But there is always another side to the coin- everything good also has a bad thing looming over it. All of this development has come with a price. Due to all sorts of personal information being available online due to this digitization and all systems being essentially interconnected to each other, it has become extremely easy for anyone with the technical know- how to extract personal information and other information from the internet without any issues whatsoever. Due to this internet age, privacy has become a myth, irrespective of whether it is voluntary of involuntary. This situation is made even more dire due to the fact that the Internet has no form of centralized governance whatsoever either in the form of technological implementation or the policies required for access and usage (Jonathan Strickland,2014). Every network sets its own policies in this regard which makes it possible to exploit the loopholes involved ( Hoffman and S. Harris, 2006). The internet resources, hardware components and the software components are targeted maliciously in attempts to gain unauthorized control over the network or infrastructure involved in order to cause interruption or access private information. Such attempts include the deployment of computer viruses, which are essentially computer worms capable of replicating themselves automatically, usage of ransom- ware, denial of service attacks, using bot- nets and spyware which gives the deployer information about the activity and typing history of users. Computer surveillance is also a real threat wherein all your data and traffic on the internet is monitored continuously in real- time (Diffie, Whitfield; Susan Landau, August 2008). In countries like the United States, the Communications Assistance for Law Enforcement Act provides the ability to make all phone calls, email, instant messaging, web traffic etc available for uninterrupted and unimpeded monitoring to federal law enforcement agencies (Hill, Michael; 2004 and McCullagh, Declan; 2007 ). Without a question, privacy is the single most important aspect of the internet today and bothers users who are aware of the fact that their internet activities are not secure. And especially since the internet has managed to pervade every single aspect of our lives, there is a necessity for a line to be drawn which helps to protect internet users privacy. Be it with regards to safety of minors and children online or with relation to the e-Commerce transactions, a comprehensive internet privacy act needs to be enacted at the earliest to protect individuals from being exploited by mischief mongers. This is all the more important because any kind of financial transaction requires a person to furnish his/ her personal information which can be exploited to unimaginable levels., which is why it is imperative that we take action to include privacy in such agreements. Several countries like USA, UK and India have governments which have laid down specific guidelines which are to be followed by every citizen when performing online transactions or using the internet. But there are no concrete laws which are difficult to bypass. Existing laws are full of loopholes which can be and are exploited. Internet privacy is the right to have personal privacy with regard to the storing, provision to third parties, repurposing and display of information related to oneself through the internet. Privacy with regards to the internet have been voiced since the beginnings of the internet (E. E. David and R. M. Fano, 1965). Some experts like Steve Rambam, who is a personal investigator who specializes in Internet privacy cases have gone on record to say that internet privacy is a myth and due to the existing state of internet privacy laws, the damage and penetration has been so extensive that it is almost impossible to recover from it. It has also been suggested that privacy is required to protect people from those who are in power, and to prevent the possibility of future abuse of that knowledge (Bruce Schneier, 2006). Risks to privacy: There are several cases where it has been seen that companies are hired to observe which site people log on to and then use this information to perform targeted advertising, which is based on an individuals browsing history. A similar trend is seen with online ravel based companies which track what prices a person have paid for tickets earlier and then fix prices of tickets accordingly, even if the actual rates are cheaper. Social Media: Also directly observed behavior like browsing logs, search tags, social media profiles etc. can be and are used to infer intrusive details of peoples lives such as political views, religious views, race, ethnicity, psychological and behavioral issues, sexual orientation etc. to name a few (Kosinski, Michal; Stillwell, D.; Graepel, T., 2013). Links on social media sites which might seem innocent, sometimes lead to dangerous malware and spyware download sites which can help infect their computers with potentially dangerous software and tracking codes. Even while using smartphones, features like geo- location can be used to track the places a person visits, the time they spend there, the routes used to travel to places and post these details online for anyone to see. Cookies: HTTP cookies are also a major privacy concern. A HTTP cookie is data stored on a users computer to assist in automated access to a website or web features, or other information regarding state required for complex web sites to function optimally. These can also be manipulated to track user browsing habits, search queries etc. Such cookies are used by Google Analytics and are called tracking cookies. Most website developers use them in a legitimate manner, but several cases of abuse have been recorded and observed. In 2009, it was observed that social networking profiles could be connected to cookies which would allow the profiles to be connected to browsing habits and hence for analytical processes. In the past, web sites never informed users explicitly about the usage of cookies which prompted US and European lawmakers to take action against tracking cookies and third party cookies which enabled compilation of long term records f individuals browsing histories. In the past years, user awareness with regard to cookies has also improved which has enabled them to counter the effects of cookies. Which are less effective since modern browsers and modern malware detectors can block and detect. Search Engines: Even though efforts are made to protect identities, and the true identity of a person is not known, a full profile of the member is possible by just using the information available on AOL Search. By just building these records, even without a name to allot it to, the company and learn a huge amount without even knowing their name. Some solutions are available to users to protect their privacy. One such program is called Rapleaf which is a website with a search engine which allows users to keep all their search and browsing history private. Some search engines anonymise Google searches and are called Privacy- focused search engines. Some of them are: MetaGer- A German search engine which has all its servers in Germany, which is a benefit since German legislation tends to give more importance to privacy laws. IxQuick: A Dutch based meta search engine which is also omitted to the protection of privacy. It uses similar features for the safety of its data like MetaGer. Yacy: It is a community project with a decentralized search engine. It uses a peer-to- peer principle that does not need stationary and centralized servers, thus saving on costs and helping it to achieve its goals of reducing hacking problems. There are several other search engines like Duck Duck Go and StartPage which follow similar methods and have the same goals. Several other potential privacy risks are: Malware: It stands for malicious software and is used to define the software that causes damage to a computer, or a whole server, or sometimes even a whole network by the means of a Trojan horse, or spyware, or a virus. Spyware: It is a small code of software that steals information from a computer without the consent of the administrator. Web Bug: It is an object which is embedded within a web page or an inconspicuous mail and is usually undetectable by normal means. It permits the infiltrator to check whether a website or a message has been viewed. Phishing: This is a criminally fraudulent method of attempting to obtain sensitive and personal information such as credit card information, bank account numbers, user names and passwords by tricking users into believing that they are talking to official representatives of their banks or credit card companies. Pharming: This is done by hackers to reroute traffic from websites to totally different internet addresses by changing the host file or hacking into the DNS server and exploiting its vulnerability. Social Engineering: Similar to phishing where people manipulate others to perform certain actions or divulge sensitive information. Malicious Proxy servers: Some servers trick customers while promising to be secure and vouching to protect your information and provide a safe sense of security. When a customer is relaxed assuming that their private information is safe, these servers then use this data for their own purposes. Web RTC: This is a software protocol which is enabled by default in browsers like Google Chrome and Firefox. IT has a particular vulnerability which compromises the integrity of VP tunnels by causing the actual IP address to be read by using a specific process. These and several other concerns are extremely dangerous and need to be addressed by lawmakers as soon as possible. This is of typically paramount importance since it has been made clear over the years that the number of such dangers is increasing and it is getting extremely difficult for normal people to protect against such attacks. One of the major concerns is that of identity theft wherein several innocent people have suffered through no real fault of theirs, except for ignorance. The situation is worsened by the fact that, while we typically assume such attacks to be more rampant on commercial establishments or large corporate houses, the truth is at individuals are more of a target. In 2007, a report by the Internet Security Threat Report stated that about ninety three percent (93%) of such gateway attacks were targeted at individual home users who were unprepared for it. A gateway attack is not a direct attack, but a potential back door to utilize for further exploitation. Solutions: According to (Mediati, N., 2010) and (Larose, R.; Rifon, N. J., 2007)It is possible to a certain extent to curb these issues by updating virus protection software using security settings and privacy settings wisely downloading recommended patches periodically installing strong firewalls screening mails and not responding to those mails which are from unrecognized or suspicious sources running checks for and shutting down spyware controlling cookies wherever possible using encryption software blocking pop- ups Another way of protecting your own privacy is to include the use of VPNs. VPN services use encryption technologies to protect your privacy. This is the same technology which protects banks, and large corporations from tracking and other online dangers. These services allow users to privately send and receive messages, keep browsing history private, encrypt all your traffic, and ultimately enabling sessions to remain completely private. Everything from smartphones to laptops can use VPNs, and once these are established on a device, every browsing session is conducted through the portal provided by the VPN provider which completely blocks any possibility of raking attempts which allows you to safeguard your personal information. However, this is a very difficult proposition since most people have little or no idea as to how to proceed with these issues. An average user with no experience in technology cannot be expected to understand these issues and take action against such dangers, especially when they are getting more sophisticated every day. Several businesses can afford to hire professionals to take care of such issues, but this option is out of reach of the general public since these services are often very expensive and also require a certain amount of diligence on part of the users all the same. Hence it becomes a greater responsibility on the part of the governments across the world to ensure that their citizens are protected from this very real risk of cyber- attacks, information theft, identity theft and lack of privacy. There is a need like never before to clamp down on such unethical and unlawful activities which endanger the quality of life and the peace of mind of citizens. References: Electronic Frontier Foundation (website) Electronic Frontier Foundation (website) The Living Internet, Bill Stewart (ed), January 2000 Treese.org. 1995-11-11 Schneier.com, 2009 Jonathan Strickland,How Stuff Works. 27 June 2014 Internet World Stats. Miniwatts Marketing Group. 30 June 2012 Bruce Schneier (May 18, 2006). Diffie, Whitfield; Susan Landau (August 2008).

Crazy World by Boys Like Girls free essay sample

After a two-year hiatus, Boys Like Girls is back with â€Å"Crazy World.† This upbeat, pop-rock band creates music that will definitely get you dancing. Their fast-paced music will instantly put you in a good mood. With inspirational lyrics and catchy tunes, this album suits a variety of tastes. â€Å"Crazy World,† experiments with various styles, including country and soul. â€Å"Be Your Everything,† â€Å"Hey You,† and â€Å"Leaving California† are slow and convey sadness without being boring. The lyrics can be compared to a love poem. However, Boys Like Girls also creates music for having fun and dancing. â€Å"Shoot,† â€Å"The Life of the Party,† and â€Å"Crazy World† really get you into an excited mood. The guitar, drums, and piano blend together perfectly to accompany the lyrics. Band members Martin Johnson, Paul DiGiovanni, Morgan Dorr, and John Keefe write all their own music. Based on personal issues, their music conveys emotion and heart. For example, Johnson, lead vocalist and guitarist, wrote â€Å"On Top of the World† about his mother who passed away. We will write a custom essay sample on Crazy World by Boys Like Girls or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Boys Like Girls popularity started with the release of their first, self-titled album, which sold over 580,000 copies in the United States. They performed on radio shows and opened for artists including Avril Lavigne and We the Kings. Continuing with their success, Boys Like Girls debuted their second album, â€Å"Love Drunk.† Iconic and catchy songs such as â€Å"Love Drunk† and â€Å"Two Is Better Than One† caught the attention of many teenagers. Along with their recent single, â€Å"Crazy World,† â€Å"Love Drunk† earned a spot on the Billboard 200. Boys Like Girls creates feel-good, catchy songs for our generation. This band understands our situations and writes music to soothe our problems, but their main point is to have fun and love life. Their music is a refuge for teenagers and appeals to a variety of tastes. We might live in a crazy world, but lets focus on having fun.