Project proposal Essay Example | Topics and Well Written Essays - 1000 words - 1

Project proposal - Essay Example act is pertaining to the internal control assessment & accountability the management of the organization whereby the company is required to submit an internal control evaluation report pertaining to the procedures of financial reporting. In the modern context most of the organizations possess IT enabled Business & Financial Control systems and hence internal controls are largely related to IT governance. IT Governance is gradually forming deep roots into the corporate governance of businesses globally and hence best practices of IT Management like ITIL & COBIT are gaining popularity very rapidly across the world. In fact many organizations are now looking forward to implement integrated frameworks comprising of practices recommended by ITIL, COBIT and ISO 27001. The research proposal presented herewith is targeted to evaluate the feasibility, strengths & weaknesses of COBIT framework when deployed as an Internal Auditing System for IT Governance as a part of the overall Corporate Gov ernance system of an organization. [Findlaw.com. 2002] IT Management is no longer a small management system operating in Silo by a group of professionals that are primarily technical administrators & experts. With more and more organizations migrating to IT enabled business process management systems, the components & building blocks of IT Infrastructure & Applications have gradually achieved the critically of being the most valuable assets of the organization but least understood from the governance perspective. In this context the organizations having high dependence on IT enabled business processes need to practice an effective IT Risk Management system to comply with regulatory requirements and manage the business dependence on IT effectively. Hence, it is mandatory in the modern business era that IT Management & Governance becomes the responsibility of the executive management and the board of directors of an organization. The advantages of having strong & well managed IT

Management Essay Example | Topics and Well Written Essays - 750 words - 11

Management - Essay Example These strategies generally are called Generic Strategy in Business. In this strategy is relating with the critical factor of their business, what is the core area of customer attraction low cost, quality or any other attractive factors in their business. Cost leadership is a strategy to provide low cost or average priced product at good quality. This strategy helps the organization to achieve more market share and customer base by lowering the price while maintaining quality and this is one of the key competitive strategies of an organization. Cost leadership strategy’s advantage is that the company can compete in the area of price. Differentiation strategy is another main strategy which aims at providing a special attribute to the product to attract customers. Focus in marketing is a full service promotional agency, and it meets various specific promotional marketing needs by producing quality products with a reasonable price. It concentrates on a narrow segment and tries to achieve either a cost advantage or differentiation. The aforesaid generic strategies are not necessarily compatible with each other. But to attain a long term success, it is better to select only one of the three generic strategies. Otherwise, with more than one single generic strategy the firm will get ‘Stuck in the middle.’ â€Å"In the words of Clark and Clark, market is an area in which the forces leading to exchange of title to a particular product operate, and towards which and from which actual goods tend to travel†. (Marketing Management, Nature, Scope and Importance of Marketing, Sulthan Chand and Sons, 7th Edition, 2002) 1) Entry Barriers - In cost leadership, it indicates the ability to cut the price in retaliation. In Differentiation, it meant that customer’s loyalty can discourage potential new entrants into the market. Focusing strategy clearly stipulates that development of