Trends and Changes in the Legal Industry

Trends and Changes in the Legal Industry A Report issued for Samantha at PLS to discuss the trends and potential changes in the legal industry alongside financial analysis of the firm and another competitor. Future investment opportunities are also discussed as well as overall advantages and disadvantages. The Legal Sector and Brexit Britain opting to leave the European Union shook the country last year. The uncertainty surrounding Brexit has left legal professionals around the world nervously awaiting its impact on the commercial world. During the two year negotiation period law firms will be awaiting news of a hard or soft Brexit and further establishing how each potential outcome could implicate their clients. 1.1 A hard or soft Brexit? A hard Brexit wold involve Britain giving up full access to the single market and losing all rights to free movement within the EU. However, trading would be regulated by the World Trade Organisation suggesting that there would be no confusion politically about the withdrawal from the EU.[1] On the other hand, a soft Brexit would entail staying closely involved with the EU and keeping access to the single market. This would follow Scandinavian models whereby there is no membership of the EU but still access to the single market via the European Economic Area. 1.2 How Financial Services could be affected Within the commercial world, financial services would be one of the sectors most affected by a hard Brexit because businesses would lose their passport rights to operate in the EU. London is currently ranked as leading in financial services, meaning that Britain has a large trading surplus in the EU[2]. 7.7% of the UKs GDP is from outputting financial services with over 1.1 million employed in the industry and two thirds of them working outside London[3]. Therefore, losing access to the single market would affect many businesses and consequently clients of large commercial firms. The UK financial service sector has been considering loopholes if a hard Brexit is initiated. As banks are mostly affected by losing EU passport rights, alternative options are being considered if the UK did leave the single market with no deal negotiated (essentially a worst-case scenario situation).[4] Insurance and Asset management are less affected because they tend to be part of a global industry, for example, Lloyds of London[5]. However, many banks including HSBC, JP Morgan Chase, UBS and Morgan Stanley are standing by to move thousands of employees to countries within Europe ahead of negotiations taking place.[6] A report issued by Shearman and Stirling suggested that there are various ways of trading with the EU without needing a passport[7]. Some of the main loopholes being discussed are: Reverse solicitation Delegation of fund management/outsourcing of services Conduit entities Back to back trading[8] Back to back trading is the most prevalent of the four listed. Banks would sell its services from a local entity to EU clientele but would then transfer to the UK immediately after[9]. A drawback is that this is a short term solution, but can give law firms more time to find a long term alternative. EU regulators are also likely to frown upon loopholes when they will be relied upon by firms to carry on trading under a hard Brexit. [10]Essentially it is difficult for large commercial law firms to plan exactly how they are going to deal with the loss of passport rights. However, it would be beneficial if the UK attempts to convince the EU-27 that keeping financial markets open across the Channel is a matter of mutual interest because fragmenting Londons Ecosystem would lead to higher costs for everyone involved.[11] 1.3 The Technology sector Brexit will likely cause little affect to the technology and innovation sector on the premise that the UK stays in the European Economic Area. However, if negotiations mean that the UK fully detaches from the EU, then changes to this sector, as with many others, will be more wide-ranging[12]. Nevertheless, it must be remembered that there are successful countries operating outside of the EU. Norway is a prime example and has a strong presence in the technology and innovation sector without benefitting from EEA tax incentives, research, development, investment and funding.[13] More specifically intellectual property rights are mostly unaffected because they are not regulated by the EU. However, data protection is a hot topic of discussion. It remains to be seen if businesses within the UK will still be allowed to collect sale activity data via subsidiaries in the EU and whether the UK adopts the General Data Protection Regulation. [14]Technology has the same potential threats as financial services and the two year negotiation period will conclude the next chapter for the legal industry. However, it must be remembered that regardless of the outcome, advice and expertise of commercial lawyers will still be needed. Financial Analysis of PLS and FFS PLS 2016 PLS 2015 FFS 2016 FFS 2015 Profitability Return on capital employed 50.35 % 1:0.50 48.77% 1:0.48 91.08% 1:0.91 81.07% 1:0.81 Return on sales 27.99% 1:0.27 27.10% 1:0.27 31.05% 1:0.31 32.26% 1:0.32 Asset utilisation ratio 1:1.80 1:1.80 1:2.93 1:2.51 Liquidity and solvency Current ratio 1:2.63 1:2.90 1:2.14 1:2.40 Liquid ratio 1:2.63 1:2.90 1:2.14 1:2.40 Efficiency Creditor days 191.82 days 160.28 days 174.12 days 164.38 days Debtor days 233.08 days 209.64 days 198.05 days 188.01 days Stock days 0 0 0 0 Investment Gearing 52.80% 1:0.52 44.37% 1:0.44 79.90% 1:0.79 66.28% 1:0.66 Return on equity 48.66% 1:0.48 47.24% 1:0.47 87.20% 1:0.87 78.26% 1:0.78 Interest cover 0 0 0 0 Profitability Law firms are increasingly using profit to measure their firms success rather than revenue. This is because profit is a more accurate version of how the firm, large or small, is doing financially. Law firms are ranked by revenue so it is understandable to focus on this, but often profit points/important data can be overlooked. A law firm is a business and must always aim to improve profitability. [15] 2.1.1 Return on capital employed (ROCE) ROCE is a ratio that measures how successfully a company is turning its capital invested into profit. A higher percentage indicates a more effective use of capital and therefore an increase in shareholder value. When comparing revenue, FFS has a much higher yearly figure than PLS but its revenue has dropped significantly in just one year (70m). In 2016, FFS turned 91.08% of its capital into profit, which is a large improvement from the previous year which measured at 81.07%. The large percentage of profit stemming from capital investment may be due to a higher amount of reserves being re-entered back into the business. FFS seem to be using their share capital in a more financially beneficial way than PLS by retaining their reserves rather than distributing them all to members. This may be because recent investments in new offices needed funding. Eventually, FFS will be striving for a larger shareholder value. PLS has not seen a significant increase in ROCE (less than 2%). This suggests that substantial investment is not occurring. Instead they are using local firms in China, and not reinvesting profit for the financial year available for division amongst members. It may lessen their revenue for a while but investing in new offices like FFS could eventually improve their profitability and shareholder value. 2.1.2Return on sales (ROS) The ROS is a measure of how much profit is being formed per pound of sales. FFS suffered a decrease in their ROS by 1.21% which may be because of their loss in operating profit. Comparatively, PLS improved their percentage by 0.9% from 2015-2016. Where FFS have seen a significant increase in staff costs, PLS have only seen a minor one. Where FFS have suffered a large decrease in turnover, PLS have seen a minor one. PLS may have also focused more attention on the 6 profit points and lessened expenses to improve their overall profitability. PLS is unlikely to be underperforming as it is converting a similar amount of company revenue into profit as FFS, even though FFS has a much higher turnover. 2.1.3Asset utilisation ratio (AUR) The AUR for PLS has not increased from 2015-2016. This would be because they have not invested in the firm to gain more asset appreciation. Generally, the higher the AUR, the better the company is performing because it would be generating more revenue per pound of assets. FFS have invested in new offices meaning the general equity has decreased significantly since 2015. The equity at PLS has barely changed suggesting a higher inefficiency to deploy assets in order to generate a higher revenue. 2.2 Liquidity and Solvency 2.2.1 Current ratio The current ratio portrays the health of the business. A ratio above 1 but no higher than 3 suggests efficiency in utilising assets. Both firms are within this bracket but in 2015 PLS came close to 3 suggesting that they are not investing assets back into the firm as efficiently as they could. This however reduced significantly the next year. 2.3 Efficiency 2.3.1 Debtors days Debtors days is the measurement in days that a firm will take to collect cash from debts. Both firms have rising debtors days but it would take PLS longer to receive debts owed as the days have grown by 25 compared to FFS with only 10. It is well known that billing clients can be a long process and usually the cause for lengthy debtors day results from firms. However, clients could also be asking for longer or different credit terms causing the rise for both firms. PLS could take into account purchasing new software to speed up the billing process, generally improving timekeeping and tracking firm financials more acutely to improve their figures. 2.4 Investment Return on equity (ROE) The ROE depicts a firms profitability regarding how much profit is made from money shareholders have invested. ROCE and ROE come hand in hand because ROE analyses how much profit is being made from shareholder investment where ROCE assesses how much shareholder investment has gone into the company. FFS have a much higher ROE, which has increased by 10% in the year 2015-2016. PLS have barely seen an increase in growth suggesting that they are not investing their equity efficiently enough. Although FFS have suffered a massive reduction in revenue and remuneration to members, their investment from equity seems to be paying off. In 2016 87.20% of shareholder money transferred to profits whereas PLS only saw 48.66 %. Potentially investing globally with equity money could benefit the overall profitability of PLS. 3. Strategy and the legal industry All Industries change how they conduct business when assessing potential and current trends in their environment. This is often done by using analytical tools which further evidence changes to strategic positioning. 3.1 PESTEL PESTEL is a tool used to identify different trends of the legal macro environment. Politically speaking, Brexit is the most current threat to the legal environment. As a result of a hard Brexit the economy may suffer because large corporations are likely to move outside of the UK. [16]This means that the economy will not only suffer from loss of business but lack of investment. Brexit has already caused many firms to hold off further investment, which may be why PLS are considering opening a new office outside of the EU. The tightening of the government purse will also have an effect on firms, particularly in the energy sector where less contracts have become available.[17] Social aspects include the changes in loyalty of clients because it is much easier to shop around and choose different firms. It is in the interest of fee earners to keep their clients satisfied so they dont lose them to other firms. There has been a significant boom in software and technology recently. Clients of law firms who previously would have sought legal advice now have access to the internet and free online legal tools. However, on a more positive note firms have typically improved timing and efficiency because of billing and database software made specifically for law firms. [18]Most firms have also reduced the amount of paper being used because this is more attractive to environmentally conscious clients. The Legal Services Act [19]has meant that accountancy firms such as Deloitte and PWC have extended their own in house legal departments. Consequently, large commercial firms have lost clients and further gained competitors. Brexit may also cause loss of employment rights, lessen mergers and acquisitions and could cause various laws to be changed. 3.2 Porters Five Forces Porters five forces is a tool to assess how competitive forces shape strategy and ultimately profitability. This methodology was initially applied to the legal industry, but seemed to defy the competitive pressures outlined in Porters article, whereby it still experienced a rapid rise in profitability.[20] However, recent changes in the legal industry has led to re-evaluation regarding the use of the five forces tool, to gain an insight into the competitive market of law. The bargaining power of suppliers usually refers to the firms employees, as they do not have suppliers in the typical sense. There has been a growing amount of legal talent throughout the past three years [21]which means that firms have been able to reduce fee agreements. For example, instead of hiring more solicitors a firm may choose to hire experienced paralegals which would cost significantly less. Although this is positive, it does mean that recruiting fees are higher and may cause retention rates of staff to be lower. The power of buyers is the most commanding part of the five forces in terms of competitive strategy. Firms have seen less customer loyalty and less dependency from buying local for legal services.[22] Legal research charges have also been removed from overall billing which is costing firms millions in added cost.[23] The threat of new entrants relates mostly to smaller firms using technology to give legal services on the same level as larger firms.[24] This is because technology now allows this, and smaller firms charge significantly less. As PLS is an international firm it may at some point wish to enter a foreign market but some are saturated and are therefore hard to enter and be successful. The threat of substitute products and services has changed because of the Legal Services Act [25] This means that many companies who would have otherwise used law firms, are now investing in their own in house legal departments. Deloitte, an accountancy firm have done this and have subsequently saved in legal fees[26]. This all adds to the most important aspect of the five forces rivalry amongst existing competitors. However, with trends in the market changing rapidly, further threats in relation to other competitive measures are equally as important and making the market more complex. As in house becomes more popular (6 billion dollars in the US market in 2 years) [27]and client loyalty lessens, firms need to acknowledge that new service models create separation from rivals and provide the uncontested market space necessary to limit the impact of Porters Five Forces on their operational strategy[28] Organic growth vs Mergers Potential Merger with a local firm It is seen that mergers and acquisitions (MAs) are one of the principal ways in which organisations can achieve rapid growth.[29] They benefit from economies of scale and therefore lower overheads which means cutting costs significantly. Commercial benefits include instant access to client databases and loss in competition with the firm chosen to merge. As PLS are also looking to set up in culture completely different to that of the UK, it would be potentially very beneficial to have access to experienced legal professionals already based in Shanghai who understand the market and clients. The burst of activity in the last quarter helped make 2016 the second-best year for dealmakers since the financial crisis.[30] Therefore, more firms are seen to be merging in order to eliminate vulnerability and to make themselves truly global rather than just international. Norton Rose recently merged with Texas Fulbright and Ashurst with Australias Blake Dawson. Meanwhile, SJ Berwin became the first ever UK firm to join arms with an Asia-Pacific firm, King Wood Mallesons, in 2013.[31] As PLS are friendly with local firms who they pay for their services, there may be an option for a potential merger with them. It would also mean that PLS do not have to pay to set up their new office in Shanghai which would save a significant amount of money. There are risks involved with potential mergers. When two companies decide upon this option they may lose aspects of their brand which could cause an array of disadvantages including loss of clientele. It will also likely mean that they have less control over the business and its future. Given the importance of interaction with their foreign customers, PLS should opt for a high degree of control over their foreign market entry mode [32]and a merger does not necessarily give this. 4.2 Setting up a new office in Shanghai Organic growth is known to be expanding the business from the inside rather than the outside (MA). The economic benefit for PLS of investing in a subsidiary office would be that they do not have to pay local firms for their service. They can build their own client database, promote their own brand and have full control of the office. Businesses that grow organically can control their rate of growth and normally face less cultural and integration challenges than those that choose an inorganic strategy.[33] However, they may face cultural challenges with clients. The risks of organic growth lie in expansion that outpaces the ability to effectively manage, stretches resources too thin, strains capital, or diverts focus from the business core mission[34]. It would cost PLS a substantial sum of money to invest in the office and is the most expensive of the foreign market entry options. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Cash flows ( £000) (1000) 1,500 1750 2,200 2,650 2,900 Present Value (1000) 1,071.42 892.86 801.75 689.82 539.21 Net Present value:  £2,995,000.06 The investment will add  £2,995,000.06 of value to PLS and therefore the office in Shanghai is worth potentially investing in. However, there are some risks involved with the NPV calculation. It does not consider unforeseen expenditure and is often based on estimates. It therefore does not fully account for potential risk in investments costs, discount rate and projected returns. Essentially, each investment holds significant risk because both a potential merger and buying a subsidiary office are very drastic forms of expansion. Other options such as purchasing a stake in an associate office or forming a best friend alliance may fit the needs of PLS more substantially. [35]Further, they may then decide upon organic growth or a merger once they have definitive evidence that the high risk will benefit the overall firm. Bibliography Legislation General Data Protection Regulation (EU) 2016/679 Legal Services Act 2007 Secondary Sources Articles Downey, J, (2008) Mergers and acquisitions, Topic Gateway Series No. 54 Blomstermo, A, Sharma, D, (2006) Choice of foreign market entry mode in service firms, International Marketing Review, Vol. 23 Issue 2 Internet Articles Kuntz B, EYVoice: Organic vs. Inorganic: Which way to grow? Forbes (14 January 2014) accessed 20 February 2017 Fontella-Khan J and Massoudi A, MA boom set to continue in 2017 Financial times (29 December 2016) accessed 20 February 2017 Cooke A, Trends affecting the legal profession (Chambers student, 20 July 2016) accessed 19 February 2017 Sims A, What is the difference between hard and soft Brexit? Everything you need to know (The Independent UK Politics, 3rd October 2016) accessed 10 February 2017 M Arnold, Banks study loopholes to enable UK branches to sell to EU clients, (Financial times, 02 February 2017) accessed 14 February 2017 Katz T and others, Brexit: What impact might leaving the EU have on the UKs financial services industry? | insights | DLA piper global law firm (DLA Piper insights, 27 June 2016) accessed 14 February 2017 Reynolds B and others, Brexit and Equivalence: Review of the Financial Services Framework Across All Sectors (Shearman and Sterling LLP, 10 August 2016) accessed 16 February 2017 Rao K, PwC report reviews state of global financial market liquidity (PWC News releases, 12 August 2015) accessed 14 February 2017 Patrick F, Porters Five forces applied to the legal industry (Thompson Reuters Elite, 9 January 2014) accessed 10 February 2017 Smith L, Porters Five forces are actually relevant to law firms (Bloomer Law Big Law Business, 19 March 2015) accessed 10 February 2017 Rebeiro M, Impact of Brexit on technology and innovation (Norton Rose Fulbright, 21 December 2016) accessed 10 February 2017 Saunders P, Black J, and McNicholls K, http://www.legalfutures.co.uk/wp-content/uploads/developing-legal-talent-2016.pdf (Deloitte, February 2016) accessed 14 February 2017 Strong F, Porters Five forces for the legal industry (LexisNexis Business of Law Blog, 7 May 2014) accessed 16 February 2017 Samuelson, S.S. and Fahey, L. (1991). Strategic planning for law firms: the application of management theory. 52 U. Pitt. L. Rev 435 Booth S, How to ensure UK and European financial services continue to thrive after Brexit (Open Europe, 17 October 2016) accessed 16 February 2017 Millard R, Beyond the box: How to realign your firms business model (Solicitors Journal, 27 June 2012) accessed 16 February 2017 The 6 Profit Points of Every Law Firm: Taking control of data to help increase your firms profitability, (LexisNexis Law Firm Practice Management WHITE PAPER SERIES, January 2013) accessed 16 February 2017 Declaration I declare that: à ¯Ã¢â‚¬Å¡Ã‚ · The work in this assessment was carried out in accordance with the Regulations of The University of Law. à ¯Ã¢â‚¬Å¡Ã‚ · The work is original except where indicated by acknowledgement or special reference in the text, and no part of this assessment has been presented by me or anyone else to any University or body for examination either in the United Kingdom or overseas. à ¯Ã¢â‚¬Å¡Ã‚ · I have not conducted research involving human participants for the purposes of this work Date: 23rd February 2017 Word Count:2996 [1] Sims A, What is the difference between hard and soft Brexit? Everything you need to know (The Independent UK Politics, 3rd October 2016) [4] M Arnold, Banks study loopholes to enable UK branches to sell to EU clients, (Financial times, 02 February 2017) accessed 14 February 2017 [5] Booth S, How to ensure UK and European financial services continue to thrive after Brexit (Open Europe, 17 October 2016)

The battle between religios

Christianity vs. Judaism Did you know that Christianity evolved from Judaism? In fact in the Old Testament, which is part of the Bible, were the words of the Jews (Southwick). You may have never heard of Judaism because it is such a little religion that not many people practice. Although Judaism is such a small religion it means a lot, without it there would not be Christianity! Therefore, there are many similarities between Christianity and Judaism; however, there are also many differences. Christianity is the largest religion in the entire world, 32. of are world's population is Christian (Southwick). There are also thousands of different types of Christianity. As of right now there are about 33,820 â€Å"sub† religions, Catholic being the biggest with about 1,050,000,000 members (Wikipedia). Think about that, over 1/7 of the world is made up of Catholics. Christianity is one of many monotheistic religions meaning they believe in one god and that goes by the name of Jesus. J esus is actually of three people; God the father, God the son and God the Holy Spirit. They call this trinity which is a group of three people or things.Most Christians go to church very Sunday for about an hour and listen to the stories of God read out of the Bible. On the night before Christmas and the day of Christmas people usually go to church to celebrate the birth of Jesus. Christianity is not a very extensive religion compared to most, there are very few requirements. The only thing you really need to do is believe in God/Jesus and you also must be baptized. This is probably why it is such a large religion. Unlike Christianity, Judaism is not a very large religion. Only 0. 2% of the world's population s made up of this religion.Compared to 32. 5% (Christian population) 0. 2% is not very much. This religion started in a place called Canaan and now a days Judaism is mainly practiced in Israel. Dissimilar to Christianity, 52% of Jews do not believe in gods. Appose to what most Christians think, most Jews do not thing God was the messiah. The sacred text of the Jews goes by the name of the Torah, which are the first five books of the Old Testament. The Torah was given to the people by God. Judaism is also a monotheistic religion. Jews did not eat shellfish or meat. https://donemyessay.com/why-was-the-battle-of-gettysburg-so-important/All of their meat had to be kosher. A big part of the Jews faith is to respect your elders! If you disrespected your parents they would have the right to beat you. One of the mail holidays in the religion is Hanukkah and is celebrated during the month of December. There are far more requirements to the religion which is probably why there are very few people that are a part of the religion. Because Christianity came from Judaism there will be many similarities but since Christianity started a lot have things have changed making it different from Judaism.One thing they have in common is that they both follow the Ten Commandments. They also both attend church and read out of the holy book. The Bible includes the first five books of the Old Testament which makes up the Torah. A major difference is the majority Jews do not believe Jesus Christ was the messiah. On the contrary; Christians believe that Jesus is the messi ah. Jews pray to Jehovah. Also Jews has different main day of worship then Christians. The Jews main day of worship is on Saturday oppose to Christians which is on Sunday. the battle between religios By noahwatsonl

The Telephone: Then and Now

Jennifer Evans The Telephone: Then and Now HUMN 303: Introduction to the Humanities Instructor E. Elliott February 11, 2011 The Telephone: Then and Now The telephone was one of the greatest American inventions. Developed in the 1800’s by Alexander Graham Bell, it quickly became one of the most used inventions in the world. The telephone had many impacts on society and the way we communicated and still plays a huge role in the world we live today. The telephone has developed from something that was not a necessity to something people must have. The telephone opened the door for communications across the world and played a part in the development of personal and business cultures by allowing people from different countries the ability to communicate with ease. Carl F. Gauss and Ernst H. Weber built the electromagnetic telegraph in 1814 and was the first step to making electrical signals travel from one device to another which influenced the invention of the telephone (Mann, 2010). Alexander Graham Bell first introduced the telephone to the public on May 10, 1876 (Shulman, 2008). Some developments had already taken place on the invention of a wait to obtain voice transmission, but a device that actually could do it had not yet been developed (Mann, 2010). The problem was developing the transmitter which is the device in the phone that actually allows each person to hear each end of the conversation (Shulman, 2008). Bell had to defend himself in several court cases because of a German inventor by the name of Phillip Reiss already developed a device like the telephone in 1816 (Shulman, 2008). Bell eventually won his patent and invented the first telephone company (Shulman, 2008). Globally, the invention of the telephone was not accepted. People in other countries viewed it as evil, or a way someone could spy on them (Mann, 2010). The telephone was mostly utilized in foreign countries for government, military, and business use only and the general public did not own them (Shulman 2008). European countries did not accept the invention of the telephone and leaders of these countries laughed at its presentation (Mann, 2010). Today, on a global level, we see that the phone did eventually become accepted worldwide and cultures of all kinds are dependent upon its use. The world no longer had to communicate through mail or other means that did not send clear messages. The telephone has evolved to a device that people cannot leave home without and this is obvious in every country around the world. Global communications are used today for government communications, business dealings, and personal relationships (Shulman, 2008). The economy grows from the use of telephones because we are able to pay bills and make business deals from anywhere. People make purchases on the phone and telemarketers use telephones to assist in sales marketing. The invention of the telephone had many impacts on society. It improved communication so that people could maintain more relationships. People had no lines of communication before its development. The mail was the only option and was a very timely process. The impact of the telephone on society when Alexander Graham Bell developed it was to allow everyone, including the poor to have communication ability through the use of the telephone (Mann, 2010). The telephone was the first device that permitted voice communication over long distances. Because of this technology our society and the world changed. It is easy to take technology, inventions, and advances in any field for granted. We accept that we have computers, appliances, and the telephones. We do not consider the impact that these technologies have on our live and they do have an impact, whether good or bad. They affect our lives in ways that we may not even know. One of the most influential, and controversial, inventions has been that of the telephone (Shulman, 2008). When the telephone was introduced it was met with some resistance and a few technical problems. As time passed it became so accepted that almost everyone in the western world had a telephone. The telephone was marketed in that it would increase revenue, employment, and an improve communication (Telephone calls for all, 2007). During World War II, the telephone systems were destroyed in the war stricken countries and the US remained intact (Farley, 2005). The military had already developed radio communications but the telephone was still just a landline. This gave the United States a jump in the invention of mobile communications (Farley, 2005). Doctor Martin Cooper developed the modern day cell phone (Farley, 2005). He invented the technology responsible for the cell phone when he was the Director of Research and Development at Motorola (Farley, 2005). Dr. Martin Cooper is also known as the first person to make a call on a cell phone and his famous first call took place in April of 1973 in New York (Farley, 2005). Cell phones and internet have become the most widely used means of communication and we are in a culture of mobile dependence. Everywhere we go people are on their cell phones or on the internet. Businesses use free access to the internet to attract customers. The telephone and mobile communications have given people access to the world and all the things the world has to offer us in the means of communication with people. The cellular phone industry has grown rapidly with major effects on the economy. People pay monthly bills and buy new phones all the time. I believe there has been a massive culture shift over time with the invention of the telephone. Culture in the earlier time of the invention of the telephone was resentful of the device. We now see a culture of dependency on the phone and the internet. Cell phones look like small computers now and internet access is easily obtainable from anywhere. From rejection to acceptation, the phone was a major invention of American history. The telephone was one of the greatest inventions in American history. Most people today do not leave their home without some type of communication device with them. In most cases, this is a mobile phone but the invention of the mobile phone was dependent upon the invention of the telephone and how to transmit voice signals. The only difference being one has wires and one does not. Communications across the globe are happening everyday and contributes to our growing and expanding culture. If we were not able to communicate with other countries, we would not have a grasp on the events or changes happening around the world. The telephone made a huge impact on the world and our ability to communicate on a global level. The culture shift with the invention of the telephone is dramatic and the economy has definitely reaped the benefits. The telephone and mobile phones were ilestones in America’s history and the we are still inventing new types of telephone devices today. References Farley, T. (2005, April). Mobile telephone history. Telektronikk,(3). Retrieved from http://www. cems. uwe. ac. uk Mann, M. (2010). The deep digital divide: The telephone in British India 1883-1933. Historical Social Research, 35(1), 188-208. Shulman, S. (2008). A game of telephone. Technology Review, 111(6), M18 Telephone c alls for all. (2007). New Scientist, (193)(2589), 14. Retrieved from EBSCOhost. an: 23996043.

Introduction Of Online Shopping Through App - 3043 Words

CHAPTER – 1 INTRODUCTION Online shopping through app has become very popular these days because people find it convenient and easy to shop from their home or office. People can save their time and energy by purchasing products online with some discounts. The offers on the internet can be easily compared, and the buyer can buy the product according to their favorable conditions like price, quality and other discounts for their individual needs. The next generation of mobile phone â€Å"SMART Phones†, has opened the new paths of using specially designed apps. We have most of the companies making use of this trend of getting their company products available on their website for sale, to be accessed via the app. They are also coming out with some great offers to attract customers to download and use their apps more rather than accessing their website. 1.1 PROJECT DESCRIPTION: MEB-KART is an APP which is designed to allow owners and customers to sell or buy product online without going into the website. The APP can be download for free from any Android phones with a minimum version of 2.3. The APP gives the same feeling like buying something online by visiting the website. The features that are included on the website have been incorporated into this APP. This is built using the Android Studio, PRESTASHOP framework, which uses Java 1.8 coding language and PHP scripting language. 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So there would be an increase in grocery shopping among the customers, where retailers such as Tesco could benefit from providing special offers and lower priced products (Euromonitor, 2010) Social: Latest trends show that people nowadays are increasingly more concerned with their health, henceRead MoreMarket Share By Company And Brand1122 Words   |  5 Pageshas 2.6 percent market share. Objectives of the eCGS will be the introduction of the market objectives and focusing all the techniques according to those techniques. Before launching the store, the new methods are the IMC development. The major objectives for this grocery store will be, a. Introduction of the new methods and forms of managing the online business issues b. Market share achievement by more than 5% c. The introduction of the standards and how those can be complied or not. For the increaseRead MoreBusiness Intelligence ( Bi )1637 Words   |  7 PagesMohammedAljohani ISYS250 Introduction Business Intelligence (BI) makes use of methods, processes, and technologies that help organizations to collect, store, report, and analyze business data for purposes of facilitating decision making. Institutions of higher learning are going through ab period of transformation as they become digitalized to make them competitive like other organizations. There is need to adopt technologies to improve the quality and efficiency of delivering study processes andRead MoreThe Role Of Financial Struggle And Unemployment On The Retail Sector872 Words   |  4 Pageswell as major effects of financial struggle and unemployment on the retail sector, there are many other factors that have impacted the industry. As well as being cost conscious, huge advances in technology have made a permanent impact on the grocery shopping for the consumer and the retailer. We are living in one of the most exciting times in retailing history, thanks to continuous technology innovation, supported by the World W ide Web and open-source networks. Those retailers who embrace this breakthroughRead MoreWhy E Business Gained Popularity And Its Benefits1436 Words   |  6 Pagese-business is an excellent strategy as it provides convenience, flexibility, and variety. One of the key ingredients needed for online business is trust. Therefore, in such a scenario website design, interface, and ratings are important means for its consumers to build their trust. One booming industry that over the past couple of years has gained momentum is shopping online for shoes. Why E-Business gained Popularity and its Benefits Over the past decade or more, the readily available and accessible