Effect of Globalization on Business and Profit Making

Impact of Globalization on Business and Profit Making Part 1 Since the beginning, benefit making elements (among other) have built an always worldwide economy. Over the most recent 15 years or thereabouts, extraordinary changes in correspondences and PC advancements have given the procedure new energy. Global enterprises make items in numerous nations and offer to purchasers around the globe. Cash, know-how and crude materials move always quickly across national outskirts. Alongside items and accounts, thoughts and societies blend all the more energetically. As all around portable capital redesigns business firms, it clears away guideline and sabotages nearby and national legislative issues. Globalization makes new twists of old exchanging thoughts (barters are getting progressively predominant in purchasing and selling); it begins new markets and it adds to riches, even as it causes broad misery, turmoil, and hardship. It is both a wellspring of oppression and a mode for worldwide developments of social respectability and freedom. Without a doubt, in the main quarter of the 21st century, the benefit making firm capacities in a situation loaded with worldwide chances and dangers; and in the wake of ongoing corporate outrages, the firm, at the same time, is vigorously obliged by moral self-controlling just as creative guidelines authorized by household and worldwide administration establishments. 1 Globalization As indicated by A.T. Kearney/Foreign Policy Globalization Index (2003), which depends on pointers, for example, financial reconciliation, mechanical network, individual contact, and political commitment (see Table 1 beneath), from around 1999 to 2003, worldwide remote direct speculation and portfolio capital streams eased back down altogether therefore adding to the debilitating of globalization. Other worldwide patterns, particularly universal the travel industry, phone traffic and overall access to the web remained solid assisting with making up for the debilitating of worldwide monetary ties, in this way developing worldwide connections by and large. What are the exercises that the benefit making firm may get from the globalization of financial action? Apparently worldwide markets, as examined in the rest of the segment, ‘offer to the firm less lawful limitations, initiate decrease in overabundance limit, cause higher market fixation and add to higher benefits. Think about 1, which interfaces together two 2-dimensional charts: one has its inception in the southwest with worldwide fixation estimated on the vertical pivot and benefits on the even; different has its root in the upper east with abundance limit estimated on the vertical hub and legitimate limitations on the flat. As it is examined underneath, globalization empowers firms to move ‘northeast from direct A toward point B. Table 1 A.T. Kearney/Foreign Policy Globalization Index (2003) The 2003 outcomes don't show causation, yet they do highlight critical relationships; they exhibit that the most worldwide nations are those where inhabitants live the longest, most advantageous lives; ladies appreciate the most grounded social, instructive, and monetary advancement; worldwide joining prompts secularization. For the third year straight, in 2003, Ireland positions as the most worldwide, due to the countrys profound monetary connections and significant levels of individual contact with the remainder of the world. Western Europe guaranteed six out of the ten most all around incorporated nations in this years study. What's more, the USA broke into the main ten, positioning first in the quantity of secure servers and web has per capita. Nations from Central and Eastern Europe, Australasia, and Southeast Asia additionally made it into the upper level (the five most worldwide nations are accounted for above followed by the main five worldwide firms in Europe and Asia). Positioning markers  · Economic mix: exchange, outside direct venture, portfolio capital streams, and speculation pay.  · Technological network: web clients, web has, and made sure about servers.  · Personal contact: universal travel and the travel industry, worldwide phone traffic, and settlements and individual exchanges (counting laborer settlements, pay to workers, and other individual to-individual and non-administrative exchanges).  · Political commitment: participations in universal associations, staff and budgetary commitments to UN Security Council missions, worldwide arrangements approved, and administrative exchanges. 1.1 Legal limitations As globalization grows, numerous organizations get themselves (by decision or fortuitous event) working in nations that force less lawful business guidelines comparative with their nations of origin. Worldwide firms put focus on nearby governments to build up progressively great business guidelines or shun upholding their administrative laws (paying little heed to how insignificant or reasonable they are) or, if such laws don't exist, to abstain from applying them. Subsequently, less managed or absolutely unregulated markets diminish obstructions on the progression of products and cash across outskirts, making an increasingly incorporated and beneficial worldwide economy. Over guideline: Business firms in creating countries face a lot bigger administrative requirements than those in created countries; as detailed in Doing Business in 2005 [World Bank, (2004), p.3], â€Å"(a) they face multiple times the managerial expenses, and about twice the same number of bureaucratic methods and deferrals related with them. Furthermore, they have less than a large portion of the securities of property privileges of rich nations. (b) Heavy guideline and feeble property rights reject the poor from working together. In helpless countiers 40% of the economy is casual. Ladies, youthful and low-gifted laborers are harmed the most.† The bringing down of over administrative requirements is effectively sought after in light of the fact that it carries advantages to firms (they invest less cash and energy in managing guidelines) and to governments (they spend less assets controlling and all the more offering social types of assistance). Additionally, less guidelines draw in remote firms with all advantages and, obviously, costs related with them. Subsequently, globalization empowers firms to profit by the expulsion of pointless guidelines and the building up of exchange empowering, motivating force stacked laws. Simultaneously however due to ‘global multifaceted nature, the rise of new imaginative innovation driven markets just as failure of administrative specialists to authorize the current lawful establishments (transformed or not), a few firms, as depicted beneath under illegal exchange, may dodge consistence with local or worldwide laws. Illegal exchange: The way that, all inclusive, unlawful exchange items and administrations including licensed innovation, tax evasion, third move creation and outsider sneaking has been on the ascent, infers that experts in different nations experience tough time in managing the issue. As Naim (2003) composes, protected innovation lawless acts, a cutting edge sort of robbery, includes business programming, shampoos, motorbikes, clinical medications, modern valves, gracefully of unlawfully duplicated copyrighted music, and among other, burglary of brand names. In Naims words: â€Å"Governments have endeavored to ensure protected innovation rights through different methods, most outstandingly the World Trade Organizations Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). A few different associations, for example, the World Intellectual Property Organization, the World Customs Union, and Interpol are likewise included. However the huge and developing volume of this exchange, or a basic walk around the boulevards of Manhattan or Madrid, show that legislatures are a long way from winning this fight.† Moreover, deregulations of monetary markets have offered ascend to maverick worldwide banking, assessment safe houses, and tax evasion. Every one of these variables make conceivable cross-outskirt cash moves, while all the while, upgrades in electronic advancements make separation to a lesser degree a hindrance and transform cash into e-cash characterized by Naim as â€Å"cards with microchips that can store a lot of cash and in this manner can be effortlessly shipped outside ordinary channels or just traded among individuals.† Naim states that â€Å"estimates of the volume of worldwide tax evasion extend somewhere in the range of 2 and 5 percent of the universes yearly gross national item, or between $800 billion and $2 trillion. †¦ The advancement of innovation, the intricate trap of monetary foundations that jumble the globe, and the simplicity with which â€Å"dirty† assets can be electronically transformed into genuine resources make the guideline of universal progressions of cash an overwhelming task† amplified by the presentation of e-money.† Also, as indicated by the United Nations, outsider sneaking is the quickest developing business of sorted out wrongdoing. As indicated by Naim, this sort of present day subjugation has become a $7 billion every year venture and it includes for the most part ladies and youngsters; and in spite of the endeavors made by governments to abridge the issue, particularly in the UK, Southern Europe and in the USA, the issue is getting increasingly troublesome and entangled after some time. Once more, Naim puts it graphically: â€Å"A lady can be â€Å"bought† in Timisoara, Romania, for somewhere in the range of $50 and $200 and â€Å"resold† in Western Europe for multiple times that cost. The United Nations Childrens Fund appraises that cross-outskirt dealers in Central and Western Africa subjugate 200,000 kids every year. Dealers at first entice casualties with propositions for employment or, on account of youngsters, with offers of selection in wealthier nations, and afterward keep the casualties in compliance through physical brutality, obligation subjugation, identification reallocation, and dangers of capture, expulsion, or savagery against their families back home.† Also, obviously, protected innovation, people, and money related capital are not by any means the only items and additionally benefits exchanged unlawfully for huge benefits by worldwide systems. There are additionally advertises in human organs, jeopardized species, taken compelling artwork, and dea

Cleopatra Essay Research Paper CleopatraCleopatra was queen free essay sample

Cleopatra Essay, Research Paper Cleopatra Cleopatra was sovereign of Egypt, last swayer of the line established by Ptolemy, a Macedonian general of Alexander the Great, who accepting Egypt as his segment in spliting Alexander? s imperium. Her capital, Alexander, established by Alexander the Great, was the focal point of Hellenistic Greek human advancement of the universe at that cut, each piece great as an incredible business focus. In spite of the fact that she envisioned as a? lovely and glamourous grown-up female today, she was non actually delightfully delineated on antediluvian coins, holding a long snare nose, and manly qualities? ( Flamarion 181 ) . She regarded to be a solid disapproved Macedonian sovereign who was heavenly and longed for a more prominent universe imperium. Exceptionally clever, this adroit legislator about accomplished this end. Her parts as the last of the Ptolemaic Greek swayers of free Egypt, were the unceasing expansion of the Roman Empire all through the Mediterranean, and at her expire left behind? a rich, supreme state which kept on blasting as the focal point of corporate greed, logical order, and larning under Roman guideline? ( Newman 554 ) . This characteristic conceived pioneer was the most established life young lady of Ptolemy XII Auletes and of his sister and wedded lady Cleopatra Tryphaena. Such sibling sister marriages were normal among individuals of the Egyptian assessment house. Her male parent, who passed on in 51 BC, mentioned the Cleopatra and his most established kid, Ptolemy XIII, go joint swayers, and made Rome the protector of the Egyptian region. The plan of this paper is to represent the life of a remarkable Egyptian figure, who through her finding and solid will, set up herself as a Pharaoh and sovereign of Egypt. Issues emerged when the juvenile Ptolemy started to work as a puppet for eager for power guides, who much have discovered him unquestionably progressively simple to order and direct than Cleopatra who was more established and increasingly canny. Cleopatra and her sibling began a common war between themselves, which brought about her being constrained into ostracize to Syria. In Syria, she raised a ground powers and began back to Egypt to recuperate her seat. In 48 BC, this driven sovereign was in Pelusium, on the eastern wilderness of Egypt, with her newly gained ground powers fixing to pounce upon her sibling and his partners. This contention was neer battled, in any case, on the grounds that Julius Caesar, who had shown up at Alexandria in pursue of Pompey, ? asserted the option to mediate the fight? as the agent of Rome ( Hoobler 28 ) . Both Ptolemy and Cleopatra were to ignore their ground forcess and meet with Caesar, who might settle their distinction. In the interim, there was other than a common war going on among Caesar and Pompey. Pothinus, cognizing that Caesar would win, persuaded Ptolemy XIII that it would be best to hold Pompey guillotined and hold his caput introduced to Caesar, as a way to persuade him to fall in their side in the their common distinction. Caesar had non been ? captivated, and being companions with Pompey, did non need to hold him rewarded so rudely? ( Foreman 61 ) . Resolved to give her case, Cleopatra cruised to Alexandria in a little vessel with just a couple of assistants. There she had herself moved up in to a floor covering and conveyed to Caesar? s manor by one of her attenders who told the watches it was a present for Caesar. She did this since it would hold been difficult to infer dish to the palace without Ptolemy XIII finding and murdering her. Cleopatra understood that so as to determine power she would hold to remain on great footings with Rome and its pioneers so she effectively set out to catch him. Both Caesar and Cleopatra utilized each other to determine something, since he needed to acquire cash, and her central concern was inferring power. What had started as a war among Cleopatra and Ptolemy XIII advanced into a war between Ptolemy XIII aligned with Arsine, his sister, against Caesar, and became known as the Alexandrian War. Caesar read Aulete? s will to Ptolemy and pressure him to recreate her to the seat. At the point when Ptolemy XIII suffocated in the Nile, Caesar proclaimed that? Cleopatra ought to get hitched her more youthful sibling, so eleven mature ages old, furthermore, guideline as sovereign? ( Newman 556 ) so as to charm the Alexanderians and the Egyptian ministers. He stayed in Egypt, dismissing his own businesss in Rome and in the East, ? out of haughtiness and his craving to obtain his guardianships on Egypt? s gigantic assets? ( Foreman 99 ) . On his arrival to Rome, Caesar solicits the tribune from the individuals, Helvius Cinna, to introduce into the Roman Senate a statute permitting Caesar to get hitched Cleopatra and do their kid, Caesarion, his inheritor. Many were disturbed that he was be aftering to get hitched Cleopatra paying little mind to the Torahs against polygamy and marriage to outsiders. It took Caesar two mature ages to improve of Pompeian opposition, and each piece in a matter of seconds as he came back to Rome, they commended a four-day triumph, or a stylized motorcade held to respect winning commanders. This clever grown-up female showed up in Rome with Ptolemy XIII and Caesarion, and they lived in Caesar? s Villa, where he visited her constantly. Cleopatra had begun naming herself the New Isis and was the subject of much talk. An aureate sculpture of her had been placed in the Temple of Venus Genetrix, the anchantress of the Julian family unit to which Caesar had a place. On the Ides of March in 44B.C. , Caesar was killed outside the Senate structure in Rome, ? due to the hazard that he presented to the prosperity of the majority rule government, since they accepted that he was going to proclaim himself lord? ( Foreman 83 ) . Not long after Caesar was wounded, Cleopatra left Rome, and one twelvemonth therefore Ptolemy XIII passed on, simply before he would hold arrived at the lawful age at which he could be required to participate in the specialists, what's more, some state she may hold harmed him. On Ptolemy? s expire, Cleopatra had her kid, Caesarion, or? Little Caesar, ? frantic e co-ruler at four years old. Caesar? s blackwash caused political agitation and common war in Rome. At long last the imperium was separated among three work powers: Caesar? s grandnephew, Octavian, Marcus Lepidus, and Marc Antony. Antony, as one of the new swayers of the Eastern imperium, gathered Cleopatra to Tarsus to answer charges that she had helped republican powers. Antony was sought after of cash to build up a run against the Parthians, what's more, trusted Cleopatra would give him the financess he desperately required. She set out for Tarsus in Asia Minor with tonss of blessings, and entered the city on a brilliantly enriched vessel. She cruised with Ag paddles, purple solicit, and dressed as Aphrodite, the Goddess of Love. She effectively new bounty about his? restricted vital and strategic capacities, his pale blue blood, the soaking up, his womanizing, his coarseness and his yearning, ? ( MacUrdy 79 ) to cognize how to procure to him. After much banqueting and engaging for yearss, Egypt stayed a free state on the other hand of going a Roman state, as Antony proposed. This extremely tempting grown-up female consented to gracefully him with cash on the status that her sister, Arsinoe IV, be executed. Forgeting his obligations and duty to the Roman imperium, he went with this attractive single to Alexandria and went through the winter with her there. In the spring of 40 BC, Imprint Antony left Cleopatra and returned place, in the wake of giving her much land, counting Cyprus, the Cilcian coastline, Phoenicia, Coele-Syria, Judea, and Arabia, which was extremely crucial to Egypt. After the development of the Second Triumvirate between Antony, Octavian, and Lepidus, Antony wedded Octavia, Octavian? s sister, in 40 BC to seal an exchange with Octavian. It expressed that? after the Triumvirate finished the two would both administer the Roman universe, however they permitted Lepidus to remain in northern Africa and control the nation? ( Foreman 95 ) . Octavian held all of western Europe and Antony held the eastern terminal of the Roman universe. After arranging this arrangement, he so went Es to run into with Cleopatra again, on the grounds that he required cash for his run, and along these lines made a massive blunder by hindering her, ? which was non ethically erroneous, yet by Roman law was invalid? ( Hoobler 32 ) . In 37 BC, in any case, Antony? s March due east prompted recover agreeable relationship and an anxiety between both Antony and Cleopatra. From so on, Cleopatra? s impact over Marc Antony developed, and she wore Egyptian vesture that spoke to the goddess Isis and is accounted for to hold embraced the undermentioned revile: ? Similarly surely as I will one twenty-four hours circulate judgment in the Roman Capital? ( Newman 556 ) . At the point when Antony masterminded Caesarion, and his ain three children by Cleopatra, to parcel administering both Egypt and Roman states in Asia Minor and formally separated Octavia, the Romans were fierce. Octavian announced war non against Antony, yet against Cleopatra, and reported Antony into the Senate. Romans felt it was greatly improved to proclaim war on the remote sovereign that they accepted was act uponing him, than on Antony himself. Cleopatra kept Antony from go forthing her to battle Octavian, who was winning quite a bit of his eastern locale from him. At the contention of Actium in 31 BC, Cleopatra? s Egyptian powers, along with Antony? s Roman powers, confronted Octavian? s armada, instructed by Marcus Vipsanius Agrippa. During this maritime clash, when Cleopatra withdrew and Antony, charmed as he was with her, quickly followed, and Octavian won an incredible triumph. Anthony joined his hosts in Cyrene, and Cleopatra went to Alexand

Public Finance Essay Example | Topics and Well Written Essays - 2000 words

Open Finance - Essay Example It would likewise incorporate government’s activity and lawful establishments built up for such projects. The subsequent part would manage the impact of such government assistance installments and projects on the work flexibly choices, and the last part would comprise of the monetary hypothesis for clarifying the impact of work gracefully motivating force of these social government assistance programs, which is intended for the low pay family unit. Exact proof would be additionally included to help such perspectives. So as to comprehend the ideas of government assistance installments and its connection to work gracefully, initially one needs to comprehend the ideas of government assistance financial matters. Government assistance financial matters uses the points of view and system of microeconomics, yet the ideas can be abused to infer macroeconomics suppositions. It helps with breaking down and estimating social government assistance, regarding the financial society. The ide a of government assistance financial aspects sets down government assistance improvement system in term of Pareto proficiency. The two traditional methodologies in government assistance financial matters are: a) The New Welfare Economics Approach, and b) The Neoclassical Approach. Neoclassical methodology was detailed by Marshall, Edgeworth, Pigou and Sidgwick. This hypothesis expect that utility is an adaptable measure by judgment or perception. The inclinations are steady and the extra utilization would expand the utility progressively. This idea is otherwise called reducing peripheral utility. In any case, the new government assistance financial hypothesis depends on the investigations of Parato, Kaldor and Hicks. This hypothesis explicitly clarifies the contrast between the effectiveness viewpoint and the dissemination part of an order. The measures of effectiveness are treated with Parato’s productivity and the remuneration trial of Hicks-Kaldor. The ideas of government assistance financial matters would be remembered for the investigation to comprehend the ideas of social government assistance. Let us comprehend it with the assistance of utility capacity, which can likewise be gotten from focuses on the contact bend. So plentiful utility capacities can be gotten from the creation probability bend, expressed in figure 1. Figure 1 Figure 1 is a consolidated diagram which would clarify the effectiveness among utilization and creation and furthermore incorporate the elements of amplifying social government assistance. Each point on the bend speaks to the designation of productivity of the financial assets. It is Pareto ideal in the factor designation, in utilization, in the association and underway. The bend MN speaks to a social utility boondocks bend. Point D on the MN bend compares to Point C. Point D lies on the social utility wilderness, as the peripheral pace of replacement (MRS) of C is equivalent to the MRS of A. Additionally Point B relates t o point E and them two exist in the social utility boondocks, which means wastefulness. This is on the grounds that the MRS at C isn't equivalent to Marginal pace of change (MRT) at point A. In spite of the fact that this was Pareto’s method of introducing the purposes of effectiveness, however there is one point where the social government assistance has expanded and that point can likewise be called as the purpose of rapture. This point is Z, where the MN bend is digression to the most noteworthy conceivable apathy bend. In the wake of examining government assistance financial aspects through graphical portrayal, the essential ideas of giving government assistance installments to the low pay families, would be contemplated. The term government assistance is utilized to mean least degree of social help and prosperity for all

Methods of Teaching Adult Education Assignment Example | Topics and Well Written Essays - 2000 words

Techniques for Teaching Adult Education - Assignment Example In this task, we will examine only three of the best and present day strategies that can be utilized to train workers to reuse however much of the associations squander as could be expected. The strategies to be talked about incorporate the utilization of study hall talks and assignments, utilization of exhibits, and gathering works. The paper will likewise proceed to talk about the qualities and shortcomings of every one of these strategies utilized. Under this technique, the representatives, who will be the grown-up students, will be restricted in a homeroom or a meeting corridor and be exposed to a talk. The talk material will be set up with the thought that will significantly address the hypothetical perspective on squanders and waste administration. This strategy will be utilized when passing on a general data to the whole part of the workers that could some way or another be difficult to deal with when utilizing some different techniques that are just viable for few students. The fundamental data and preparation about waste administration and reusing will be passed on here. In any case, when utilizing this technique with the grown-ups, the time of managing the talk must be short. At the point when time is made shorter, the degree of convergence of the students will be high, along these lines, the viability of the strategy will be accomplished. The talk strategy will empower interest by the grown-up students where they will have the option to pose inquiries to improve their substance authority and comprehension. The strategy will be probably the best technique to use in encouraging this subject to the workers since it will be anything but difficult to utilize genuine instances of other waste reusing that have been done previously and such will have the option to put accentuation on the learning results. The strategy additionally consolidates addresses with assignments, along these lines, going about as an evaluative technique for the students. It can, hence, effectively tell whether the students have comprehended the learning

Theodora Essays - Justinian Dynasty, Justinian I, Flavii, Theodora

Theodora Theodora was the spouse of Justinian I who was delegated Emperor of the Byzantine Empire in 527 AD. As his significant other, she governed close by, as his accomplice, and her insight served to advance the Empire. The specific spot of her introduction to the world has not been settled upon. While a few students of history state she was conceived on the island of Crete off the shore of Greece, others theorize that she may have been conceived in Syria. Whichever the case, she was raised as the little girl of a bear coach who worked at the Hippodrome (an immense arena like carnival), in Constantinople. She worked there as an emulate, and later as a full time on-screen character. At that point, acting was not a profoundly regarded occupation particularly for ladies, so the term 'on-screen character' was viewed as equal with the term 'prostitute'. While in front of an audience she was associated with her challenging amusement abilities, off stage in any case, she carried on with a typical energetic life and was most associated with her wild gatherings. At 16 years old, she made a trip to northern Africa as the buddy of an authority. She remained there for a long time before coming back to Constantinople. She halted by Alexandria, the capital of Egypt and here she embraced Monophysitism. This was a type of Christianity that accepted that Jesus Christ was entirely divine and not both human and celestial similar to the conventional Christian conviction. Monophysites were hence not loved by conventional Christians since their lessons didn't fit in with those of the universal church. On change to Monophysitism, she surrendered her previous way of life, and after arriving at Constantinople in 522, settled down as a fleece spinner in a house close to the royal residence of the Emperor. It was while in this unassuming way of life, at 20 years old, that she drew the consideration of Justinian, at that point an administration official. Theodora was lovely, however insightful, clever and interesting, which is maybe why she won Justinian's affection so much that he offered against an old Roman law that prohibited authorities from wedding on-screen characters so as to wed her. Justinian and Theodora were hitched in 525. In 527, Justin, the sovereign of Byzantium, and Justinian's dad passed on. The couple accepted control of the Empire and were delegated Emperor and Empress on fourth April of that equivalent year. They managed informally as joint rulers with Justinian permitting Theodora to share his tossed what's more, take dynamic part in dynamic. Maybe the most huge occasion during Empress Theodora's standard was the Nika revolt in which she substantiated herself a commendable and capable pioneer. During this occasion, two adversary political gatherings begun an uproar at the Hippodrome. They set numerous open structures ablaze and broadcasted another sovereign. Justinian and his authorities, unfit to control the group arranged to escape, however Theodora made some noise and gave a moving discourse about the more prominent essentialness of the life of somebody who passed on as a ruler, over that of somebody who lived yet was nothing. Her decided discourse persuaded Justinian and his authorities and they assaulted the Hippodrome, executing more than 30,000 revolts and developing successful. History specialists concur that it was Theodora's fortitude and assurance that spare Justinian's domain. All through an amazing remainder, Theodora and Justinian changed the city of Constantinople, incorporating it with a city that for a long time was known as the most awesome urban communities on the planet. They manufactured water passages, extensions, and in excess of 25 chapels, the most noteworthy of these being the Hagia Sophia - 'Church of Holy Wisdom'. To ladies, Theodora likely could be viewed as an honorable pioneer of the ladies' freedom development. She passed on laws forbidding constrained prostitution and built up homes for whores, passed rights that allowed ladies more rights in separate from cases, founded capital punishment for assault and set up laws permitting ladies to possess and acquire property. She likewise gave safe house to Monophysite pioneers who confronted restriction from the dominant part conventional Christians, despite the fact that her significant other Justinian was a conventional Christian. Ruler Theodora kicked the bucket on 28th June, 548. Her body was covered in the Church of the Heavenly Apostle, one of the unbelievable holy places that she and Justinian had worked in Constantinople. Wonderful mosaics in Empress Theodora's recognition exist right up 'til the present time at the Church of San Vitale at Ravenna in Northern Italy. Much after her demise, her soul lived on, and along these lines she had the option to have effect on the Empire. Through what she had started, Justinian had the option to bring agreement between the Monophysites and the Orthodox Christians,

MIT or Bust

MIT or Bust So I guess telling you my name would be a good place to start: Bryan. Im a member of the Class of 2007. I was born here in Massachusetts, but most recently Im from Houston, Texas. Im *definitely* majoring in 2 and minoring in BME. Thats MIT-speak for Mechanical Engineering and Biomedical Engineering. (My mom hates it when I revert to MIT-speak; I can speak full sentences in the language now. I promised her shell speak the language by the time I graduate) Im still deciding whether or not to double major or minor with Biology, which is course 7. My freshman year, I lived in Baker but that year, I also joined ZBT, one of MITs fraternities, and I live in the house now. This picture was taken at Susan Hockfields Inauguration last May. In order for you guys to get to know me a little better, Ill give you three statements and at the end of this entry, Ill tell you which one the lie is. Two Truths and a Lie 1. The first day of high school, I rode a unicycle to school. 2. I can say the alphabet backwards faster than I can say it forwards. 3. I have never done a cartwheel. A Few Of My Favorites: Favorite Sport: Indoor Rock Climbing Favorite Book: Ender???s Game Favorite Soda: Barqs Root Beer Favorite Movie: a three-way tie between Apollo 13, Princess Bride, and Spiderman 2 Favorite Reality TV Show: Beauty and the Geek, for obvious reasons Favorite MIT Location: Strobe Alley outside the Edgerton Center Favorite Nerd Pick-Up Line: Youre like a dictionary, you add meaning to my life! Favorite Ice Cream Flavor: Ben and Jerrys Half Baked, #2: Mint Chocolate Chip Favorite College or University: The Massachusetts Institute of Technology Cmon guys, did you expect any other answer? And to be completely honest, I really love MIT from the mobius strip in the Barker Engineering Library to Mystery Hunt to the Athena cluster door that opens the wrong way in Building 56 to the out-of-this world traditions to Everything Bagels from Alpine Bagel, and of course the passionate people who fill the stretch of the Infinite Corridor. So while I blog and try to tell you about all the awesome things going on at MIT and the surrounding areas, I hope you all get an idea of what the community and life is like here at MIT. Ill try to post a lot of pictures, links, videos, etc. so if something interests you, follow the links and if you ever have any questions, feel free to email me at bryanblogs at mit dot edu. I do want to hear your thoughts about my blog and I want to hear about the questions you have about MIT, Boston, Cambridge, life as a college student, or things you want me to talk about in my blog, so do post comments. The lie in my two truths and a lie was: 1. The first day of high school, I rode a unicycle to school. Haha, I can barely ride my bike without fear of injury. Im a little accident-prone.

Business Essays - Online Shopping Mall - Free Essay Example

Online Shopping Mall This report presents the feasibility study for developing the online shopping mall for UK retail outlets and customers. The idea was generated by looking at the staggering growth of the internet user and online shopping specially in UK with a record 12.8 billion pound online sale last year. This report analysis the need for online shopping mall as it provides a big opportunity to those who have less technical skills in developing the retail online sites for themselves and these hosting sites will help them do the online business with les administration for a fee only. The report is divided into nine sections starting from the explanation of what are online shopping mall and its importance in todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitive business world along with the emphasis on how technology helps business to grow. Types of technology available for developing online shopping mall are also discussed. For backend development MySQL 5.0 database is used. On front end JSP will be used to develop the script as ità ¢Ã¢â€š ¬Ã¢â€ž ¢s easy to learn as well as more versatile. The basic cost involved is for renting the space on ISP servers, the purchase of domain name, the registration with the search engines (directories) and the most important advertisement to generate traffic for the online shopping mall. In the end a detailed project plan on the basis of time and activities is explained in context of the feasibility of online shopping mall from data study till construction of the site and maintenance. Aims and Objectives Aims The aim of this study is to present a formal report and a power point presentation on the feasibility of developing the online shopping mall for UK customers and retailers. Objectives The objective of this feasibility report is to: Provide about the background, importance and growth of the online shopping mall in UK. Preparing a feasibility report by providing the information regarding site development, technology available and cost involved Prepare the project plan and Prepare a four minute power point presentation to explain the feasibility of online shopping mall. 1. Introduction 1.1 Concept of Online Shopping Mall The idea of online shopping mall originates from e-commerce. E commerce is in practice in most of the developed countries of the world such as USA, UK, and Europe etc where shopping concept is changing from physical purchase to virtual buying. This type of business is very popular among the retail outlets that are looking for a boost in their sale by offering customers new channels or mediums to make a purchase. This way not only the customer has more options but companies also enjoy an increase in their sale due to increased online outlet. Even after the immense success of e commerce there was a big group of business who either knew how to do e-commerce or they were unable to manage the administration of such technical field which required a lot of web knowledge. This generates a need of a place where these retail outlets can start their online business but without any hassle. Online shopping mall is basically the by product of e-commerce. The idea is to provide the easiest platform to these retail outlets that can do online business without any trouble or risk. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a site where any retail outlet can get registered and have a space and the rest of the administration will be done by the host of that online mall. Not only that but also the host will be the one who will take c are of all payment procedures. Online shopping mall provides a lot of benefits to the retail outlets on the site such as administrative, management of the site as well as invoicing of the business. Customer is benefited too. He has not only the variety but also ease to find what ever he is looking for at one place. The choices available to customer is many as products available on online shopping mall can range from within the product category (all Nike products) or an entirely different product type ( homecare, clothing, electronics etc.) from as many retailers possible . 1.2 Scope of Online Shopping Mall In UK Europe has a staggering 42 million user of internet and talking of Britain, 11 000 users are adding to the list annually. This gives an immense boost in the revenues generated by online activities on monthly basis. Among all the internet activity online shopping is not only generating the maximum revenues but also is growing at the fastest speed. It can be proved by the fact that almost 30% of all the sites are used for trading rather than attracting the advertisers for the means of business. By looking at this statistics and knowing that this will grow to another 30% within next few Yearsà ¢Ã¢â€š ¬Ã¢â€ž ¢ businesses are attracted towards internet to boost their sale with a relevant low cost, one of the best feature of online shopping. Moreover online shopping mall further reduces the cost and hassle for those retailers who have less technical skills to take the optimum advantage of the online business. According to the report of Ian Grant, as compare to Italy, Germany, F rance etc UK is the top most country in online shopping having a sale of approximately 12.8 billion pounds along with a record growth of 75% in online sale since 2005 till date 2. Building The Online Shopping Mall In general there are 4 basic steps which you have to follow to have an online shopping mall Get a company who will host your site Get yourself domain name for your online shopping mall. For a search engine you need to get directories. So Register with them Attract internet user through advertisement ( traffic generation) To maintain the sites you have to arrange the important tools required for order processing, invoicing and transaction 2.1 Background Research For Building An Online Shopping Site Before starting to build an online shopping mall we need to have clear idea of few things that will be needed once the site is complete. Domain name Website Hosting Secure Server Certificate Merchant Account Payment Transaction gateway. 2.1.1 Domain Name The domain name is that name by which will be recognized on the internet, to show our online appearance we need a domain name for our website, this name can be a of up to 67 characters in length and should be easy and meaningful to remember so that customer can remember it easily. The domain name is registered with a suffix, this suffix is a à ¢Ã¢â€š ¬Ã‹Å".à ¢Ã¢â€š ¬Ã¢â€ž ¢ Extension and represents the nature of the website. Few common extensions are .comà ¢Ã¢â€š ¬Ã¢â‚¬Å" used for commercial business website .net.à ¢Ã¢â€š ¬Ã¢â‚¬Å" used for commercial network .org à ¢Ã¢â€š ¬Ã¢â‚¬Å" used for organization. There are other extensions available as well these include, .biz, .edu, .tv etc. Choosing a domain name is a difficult task as here are around 128 Million domain names registered and that is the reason thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s why choosing a name that will represent out MALL will be a difficult task as most of the name are already taken. Therefore lots of brainstorming is required to select a name with following quality. It should be short Easy to memorize Should not be confusable. Not easy to misspell Should represent the MALL Considering these factor we can choose a domain name that will represent our website. 2.1.2 Website Hosting A web hosting company provides space and bandwidth on rent, once our site is developed we can put the content of the website on the allocated space on the hosting server, this transfer can be made from development site to hosting server using File Transfer Protocol (FTP) softwareà ¢Ã¢â€š ¬Ã¢â€ž ¢s. Once website is uploaded and domain is directed to rented space. The site is up and running and whenever user enters the domain it is directed to this space. A web server is a powerful computer machine which is designed in such a way that it can bare the load of internet traffic accessing the website present on it. This server can be on any plat form either Linux or Windows but should be able to handle the load. The web hosting companies usually setup these servers in data centres; these data centres are responsible for making the backup and providing security of data. The key responsibility of data centre is to make sure that website is always present on the internet. A typical p rocess of how the web server makes a bridge between the website visitor and the administrator of the website is shown in the diagram below (courtesy of eaysiteguid.com) The visitor enter the domain name of the mall in the web browser, the domain name is resolved on the domain name server (DNS) and the user browser connects to the web server which in return send the contents of the website to the visitors browser. Similarly the developer can connect to the web server to upload new contents and for management of website. 2.1.3 SSL Protection Secure Socket layer (SSL) is the technology that provides an encrypted link between your host site and the web server. An SSL is required as we want to provide safe environment to the customer as our website will be involved in credit card transaction, and there might be a chance of theft of information and customer personal information can be jeopardized. For our Shopping Mall we require SSL certificate to make our customer feel comfortable while they are giving there information to us, they need to be sure that there information will be kept private and only will be used for the transaction they are making, we are obligated to protect our customers. In the real mall there are guards to protect customers and shops from theft same as we need SSL as our mall guard. Another reason of implementing SSL is that there can be legal consequences as if some oneà ¢Ã¢â€š ¬Ã¢â€ž ¢s information is compromised, then as we are not involved in theft but we can be the source that gives the w ay to let other people information accusable and that customer can get us in to trouble. So SSL can be our first line of defence. Therefore a SSL certificate is required for our eCommerce site as we may loose customers if we canà ¢Ã¢â€š ¬Ã¢â€ž ¢t protect there information. How SSL Protects In SSL the transfer of data from the user webpage to the web server is in encrypted form, the code is scramble in such a way that no one can use it outside, the encryption can be 128 bits or 256 bits depending on the complexity of encryption, mostly for online shopping site 128 bit encryption is used, the 256bit is usually used by banks. This certificate is issued by the SSL issuing vendor that provide certificate with a encryption key, this encryption key is put on the server that do the SSL encryption, the website host will install this certificate on the web server, once installed when a customer access the site, a padlock is shown on the bottom of the browser that tell that this site is secure, opening the padlock shows the certificate, which tell whoà ¢Ã¢â€š ¬Ã¢â€ž ¢s this certificate belongs to. The cost of SSL is declined rapidly from 400 pounds to now it is between 20 to 60 Pounds per year, SSL can be purchase by different vendors like VERISIGN. There is a facility to g et a shared SSL which is provided by the host. This SSL certificate is further cheaper but the drawback is that when a user or customer check the certificate the name of the host appears on the certificate instead of the merchant that can cause confusion on user mind as the information will not match with the site owner. So ità ¢Ã¢â€š ¬Ã¢â€ž ¢s best to have our own SSL certificate, after getting the certificate we can install the certificate on the root directory of our web server. 2.1.4 Merchant Account A merchant account is an account which is provided by banks or finical institution. This type of bank account allows any e-commerce business to accept credit cards online, it is used by customers to deposit the money electronically that is through credit cards, the process where the money is transferred through credit card is called Card Not Present (CNP) merchant account and is needed when the customer donà ¢Ã¢â€š ¬Ã¢â€ž ¢t send the money in physical form during the transaction. Merchant account can be opened by any bank which gives this facility to the merchant to accept transaction electronically. To open a merchant account negotiation is done with the bank or institution over the different charges, these charges involved Up Front Application Fees: This is the fees that the provider charges for handling the transitions, as the number of merchant account provides are increasing and competition is building up, most of the providers waive this fee off. Statement fee: This is the fix amount fee that the merchant have to pay for his account, this is normally around 10 to 15 pounds per month, and this fee is also called on going fixed fee. Discount rate: This is the sales commission charge by the merchant account provider on each transaction; it is normally between 2 to 4 percent of the sales. Fixed Transaction Fee: This is the fixed transaction fee for each sale, unlike the discount rate this fee is a fixed amount and not the percentage, this fee is usually 0.05 to 0.01 pounds per sale. Termination Fee: This fee is charged if the account is closed before the contract period is ended. Chargeback Fees: This fee is charges if a customer wants a refund and want to withdraw there money then the merchant account provider will charge a fee usually between 5 to 10 pounds on each withdrawal. A merchant account acts as a go between your gateway (Credit card processor) and your business account, the money comes to this account and passes to your b usiness account and if there are chargeback or user cancel the transaction money is takes from you business count and from merchant account gets out. 2.1.5 Payment Method The payment method on an online shopping site the process is almost same as the physical shopping site, like in shops peoples comes select items or products and pay cash on the counter, in online shopping site customer visit the website select item and put in the basket ( THE CART) and finally checkout using credit card. Once customer is checkout his credit card is needed to be verified, this is checking whether credit card is valid and that there is money in the account and also that there is no fraud case. The checking of the credit card can be done by using a payment processing method; there are two types of payment processing methods Payment Processor Payment Gateways Payment Gateway This method involves checking credit card information in real time as the transaction is taking place, The gateway service is provided by different companies like LinkPoint, Authorize Net etc. The gateway processor verifies the credit card information in real time and completes the whole process (acceptation or rejection) of payment within second and traction results are displayed to customers. The process works like this. After customer has decided the item he wants to purchase he clicks the BUY button on the webpage. Once the customer is finish with shopping, he clicks on the checkout button which takes the customer to a secure form where his personal information is entered including the credit card information. The credit card information is send to the payment gateway. The gateway processor sends the transaction data to merchantà ¢Ã¢â€š ¬Ã¢â€ž ¢s bank, which then passes the information to Credit card interchange. The credit card interchange then sends the data to credit card issuer for verification. The issuer then verifies the data and sends the result to credit card exchange whether the information is valid or not. The credit card exchange then sends the acceptance or denial information to merchantà ¢Ã¢â€š ¬Ã¢â€ž ¢s bank processor. The transaction results send by the merchants bank processor are passed to payment gateway. The payment gate way then send the denial or acceptance information to the merchant who then display the confirmation or rejection of purchase on the webpage. If transaction is successful the merchant account is debited and customers is credited (this process is done in real time). The whole process is depicted in the figure below Advantages This method provides professional solution as all the transaction is done in real time. Transaction result can be displayed on the webpage that is acceptance or denial The process is invisible to the customer. The funds are directly deposited in the merchantà ¢Ã¢â€š ¬Ã¢â€ž ¢s bank account. And merchant donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have to worry about fund deposition as the whole process is automatic. This is because the fraud is detected before the product is shipped. Some service provider provide fraud protection as well, this protects the merchant and the actual card holder to become the victim of fraud. Transaction fee and service charges are less then of payment processor. Disadvantages This mode of payment processing required a merchant account Cost of setup is high then payment processor. Payment Processor This method is also called delayed response as the transaction is not completed in real time. When the user is ready to checkout he is redirected to payment processor service provider, such as PayPal, Verisign PayFlow link etc and these providers then handles the transaction for the merchants. The customer is informed about the completion of transaction once he is finish checkout but in actual the process is of verification is started at this time. The credit card is processed and transaction approval or decline results are informed to the merchant who is then responsible to inform the customer about the transaction approval or rejection thought email. The process works like this: After customer has decided the item he wants to purchase he clicks the BUY button on the webpage. Once the customer is finish with shopping, he click on the checkout button which takes the customer to a secure form on a third party website where his personal information is taken, once user finish checkout he is shown transaction is complete The user part is now done, the user thinks that transaction is complete but in actual the information is send to payment processor that then communicates with the banks to authorize the credit card. This process can take minutes or up to a days If transaction is denied the merchant are notified through an email, if transaction is successful the cash is deposited to merchants account. Other wise merchant has to inform the customer that the transaction is denied. Advantages No merchant account is required as third party processor will handle the transaction and will deposit the money to your account Cost less to setup then process gateways. Transaction fee and process charges are less then process gateways. Disadvantages Delay in transaction process to complete Credit card is checked for authorization after the user is informed that transaction is complete. Customers are redirected to third party website such as PAYPAL etc for checkout process and to finish transaction, this losses the uniqueness of branding as customers sees that he is being redirected and this causes the flow to break. Customers are informed later whether the transaction is accepted or denied, and if denied then customer can get irritated. 3. Initial Requirement 3.1 The Users The concept of this project is to design a website mall which can serve two types of customers one will be the shop owners who would like to open a shop in our virtual mall and second will the customers who will purchase item from those shops. An Administrator will be the one who will administer the mall, the shop owners and the customers. Therefore our design should coupe up there type of users, this include the ADMINISTRATOR who will be looking before the whole site, The SHOP owner who will be managing a shop in the Mall, and the CUSTOMER who will be purchasing the products. 3.1.1 Administrator Administrator will be user who will have full access to the MALL, he can be said as a super user, all the request to open a shop will be send to the administrator and then admin will decide weather to accept the request or reject it Admin will also responsible for managing the categories or subcategories of shops, he can add remove or update them as required without affecting the shop owners. Admin will also look after feedback sent and can reply to them or remove them. The Use case diagram below show what actions admin can perform in the system. 3.1.2 Shop Owner If a user want to open the shop in the mall, he will fill in the form and send it to administrator, If his request is approved by the administrator and is granted space in the mall he will become the shop owner, The responsibilities of shop owner is to manage the shop, he can add remove categories, design a catalogue and can remove, add or update item in the catalogue. He can also generate several reports regarding the sales and inventory that will keep him up to date f the business. A shop owner can remove the shop anytime he wants. The Use case diagram below shows what action shop owner can perform on the system. 3.1.3 Mall Customer Mall customers will be the users who will purchase products from the mall; they can browse the mall search shops, products within different shops and can compare prices. After they have decided what they want to buy, they can add the items to the shopping cart and can checkout at any stage during there stay on the virtual mall, when checking out customer can login and all this information will be updated in the checkout form. A customer can login any time to view his order status or he can change his personal details like shipping address and other information. The Use case diagram below shows what action mall customer can perform on the system. 3.2 Mall Interface An initial study was done on what interface will be created for the Mall, these interface includes. 3.2.1 Admin Interface ADMINISTRATOR ADMIN:This interface will only be available to administrator and let user administer the site from accepting shop request to generating reports and modifying site contents. 3.2.2 Shop Owner Interface CATALOGUE CREATOR: A catalogue creator interface will be available to shop owners where shop owners can add, remove or update items by category. These items will be added to the catalogue accessible by the customers. SHOP OWNER ADMIN: This page will be available only to shop owner from there he can perform the administration of this shop, this include link to catalogue creator, report generator and information updater. 3.2.3 Customer Interface CATALOGUE: For every shop a catalogue will be created from where customer can find item information and price. PRODUCT SEARCH: A search page will be build where customer can search for products this page will fetch the results from the data base and display them on the search page. SHOP SEARCH: This feature will allow customers to search for shops by categories SHOPPING BASKET: A shopping basket will be created which will be linked with the BUY button and when a customer hits the buy button the selected item will be added to the basked, the customer can view this basket to update or remove items. CHECKOUT FORM: A form will be created that will take customer information and send it to processor gateway for verification and save the transaction data in the database. 3.2.4 Miscellaneous LOGIN INTERFACE: A login interface will be provided where administrator, shop owner and customers (optional) can login; the user will be directed to the page his user type belongs to. REGISTRATION PAGE: This page will let user to register with the site either as a customer or shop owner. 4. Technology Available for Development Now dayà ¢Ã¢â€š ¬Ã¢â€ž ¢s different technologies are available for developing software and website. Few of them are open source and do no add cost in development. For building our website we require to choose technology for Backend and Front end development. 4.1 Backend Backend is where the Website data will be stored, this data can be of the customer, shop owner or can be site contents. For an ecommerce application databases are the foundation, all the information comes from the database and all the information will go to the data base. There are several databases technologies available like MSACCESS, MSSQL and MYSQL. MSACCESS is Microsoft database that can run on windows based servers. It is used for small scale ecommerce website, it is easy to develop database using MSACCES for developing low traffic site. It is a file based database and the problem with file based database is that if a data base crash all the data is lost. MS SQL SERVER is also Microsoft based database server which has wide support, it has powerful enhanced feature like stored procedure. It is very fast and stable. A free Express developer edition is available to create local database for development and testing. MYSQL SERVER is an open source database, it also has extremely huge support community, the version 5 has enhanced feature that can be used to create enterprise level databases. It is super fast and stable as compare to other databases. MYSQL is also multi platform so that it can be deployed on any web server running on either windows or Linux. It is important that data base should be build correctly as application will run on top of it and after launch of website if a serious flaw is found then ità ¢Ã¢â€š ¬Ã¢â€ž ¢s hard to fix the problem as data base structure has to be changes that can shake the foundation of the application. So ità ¢Ã¢â€š ¬Ã¢â€ž ¢s necessary that through time should be spend in designing of database. Few factors were conceders while choosing the database. These factors involve: Stability: The database should be stable and should not crash as this can make the site down which can cause potential loos to business. Scalability: data base should be scalable to handle large amount of data and can be extended if necessary once build. Speed: Speed is once of the important factor, the database should be able to retrieve information on fast rate so that customers or users donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have to wait for the data to be fetched; the data based should be able to optimize queries. Referential integrity: This concept involves that data base should be developed in such way that inconsistent data should not be saved in tables. 4.2 Frontend Front end is what the user will see on the webpage, this user can be a customer or the Mall administrator or shop owner. The front ends code brings the information back from the backend and display to the user or take the information from the user and send it to back end for processing or storage. We require a scripting language that can be used to develop font end. There are different scripting languages available for writing server side scripts like ASP, JSP and PHP etc. ASP: Active Server pages ASP is Microsoft developed scripting language used to create dynamic WebPages, it is used by many web hosting companies and lots of material and books are available, the disadvantage of using ASP is that the code can be writing by using only VBScripts as Microsoft bounds that, and writing code in VBScripts has its own limitation. JSP: Java Server pages is another technology of creating dynamic WebPages, it is based on JAVA programming language to design server side code. The JSP cod e is incorporated in HTML files by using special tags to write dynamic contents. The JSP source code is executed from the server on JSP Servelet Engine; this Engine then generates the HTML and sends the output to client browser. The advantage of using JSP over ASP is that ASP is based on Microsoft .NET architecture and can only run on Microsoft platforms where as JSP is Cross platform and can be run on any platform like Linux and windows. Another advantage of Using JSP is that beside its Object oriented, it can be used with different technologies like, Extended java beans (EJB), SERVALETS and AJAX to make site more interactive. PHP: PHP is one of the widely used server side scripting language, by using PHP dynamic websites can be created which provide interaction of user with the website. PHP is cross platform language that is PHP scripted running from Linux web server can be executed on windows machine and vice versa. The language is open source and is available without any c ost, beside open source it has huge development community with can be contacted for help if required. The language is fast, stable and secure. 5. Selected Technology 5.1 Backend Backed will be developed using MySQL 5.0. The reason for using MySQL is that it is open source and will not add cost in development, beside that it have extremely wide support and a huge developer community from where great help can be obtain. Other reason is that it is expected that the site will have heavy traffic and fast stable and secure database server is required and MSSQL is the only open source database that can be relied upon. The 5.0 version of MySQL also includes the stored procedure call, a stored procedure call can save the query data that is frequently used so that that data does not need to be fetch from table again and again, and ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a sort of caching. Beside that MySQl has built in security feature and as MySQl database is not a file thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s why it canà ¢Ã¢â€š ¬Ã¢â€ž ¢t be copied from the server, MySQL is also multi platform and can be deployed on any server. 5.2 Front End JSP will be used to develop the front end scripts as we have previous background of JAVA and JSP is based on java and is easier to learn and to develop and it is more versatile and different technologies will be used like SERVALETS and AJAX to make the shopping experience more interactive and as AJAX function can be executed on user browser therefore carefully writing the function can decrease the bandwidth usage hence making the website much fast. 6. Cost Involved Building and making the ecommerce site functional require cost, this involves the cost of softwareà ¢Ã¢â€š ¬Ã¢â€ž ¢s that will be need to develop and design the website to buying the domain names and hosting service and after site is launched cost of advertisement is involve. A detailed chart of the cost involved in development and after development can be seen in table below. ITEM COST Specification Domain Name 8.99 £/year .com domain Hosting Server 70 £/month Processor 2 x Intel E5310 Quad Core Xeon 1.6GHz Memory 2 x 2GB Hard Disk 2 x 500GB RAID1 10TB Monthly Traffic Yes 100Mb Network Speed Yes SSL 14  £/year 128 bit Search Engine Submission 30 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 150  £/year Maintenance 100 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 500  £/year The actual cost of building a ecommerce site is around 3000 £ but most part of this cost is taken by the development company but as we are building the online shopping on by our own there fore this cost has been cut. We will be using open source software like MYSQL and JSP there the cost of development tools are also cut. The initial budget is therefore around 500 £. The actual increase of budget is when the shopping mall is up and then budget for advertisement will be made take can be around 2000 £ initially, but we donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have to worry about this right now. 7. Phase of Design and Development The online shopping mall will be developed by using the Water fall model; the proceeds will be executed in phases. In first phase the feasibility was conducted which result in form of this report. Other phases that will be involved in process are. Requirement Analysis In this phase the requirement will be made that are to be implemented in design, this phase involve full study of what will be responsibilities of Admin and Shop owners. The factions they can perform on the website and the outcome they expect, on the other hand the requirement for customers will also be taken consider off, what the customers can expect from the site. After the requirement are analysed the project will be moved to next phases where the system will be analysed. System Analysis After the requirements are finalize then in next phase (based on the requirement gathered) website will be analysed by creating different UML diagram, this involves creating use cases, data flow diagram and creating the model of data base which include creating tables and then normalizing them to make them optimized. After the system analysis phase is over the Design phase will begin. System Design In this phase the architecture of the website will be designed this include designing the WebPages and to create the site map which will include how customer or admin can navigate through site, in system design phase also the design of shopping cart and catalogue will be considered. After the process of designing is complete then the Development phase will begin. System Development This phase will involve the coding the system, in this phase website code will be written, the code for shopping cart and checkout will be written. At this stage the database will be created and link to the website. The whole process of development will be done on development servers. Testing As the system is being developed the testing will be started in parallel so that flaws can be fixed as they are discovered. The process of Testing will involve the unit testing in which each page is tested one by one, also functionality of the website will be tested this include testing the process of creating of shops, catalogues and process of checkout. The process of testing will continue during the rest of the website building process. Implementation Once the system (website) is developed and tested it will be shifted to production server (the host). And production testing will begin which will test that website is configured properly and all the functions are working on production. Site Launch After the system the up and running and tested on the production server the site will be made available for the user. 8. Project Plan 9. Conclusion The study is concluded by focusing on the fact that the future is all about online business. More and more people are attracted towards internet which gives them an easy access to the business world and in return the business world enjoying the raising sale every quarter. The advancement in technology helped both, the user as well as the retailer, to gain profits. Online shopping mall is a less expensive medium not only for the hosting company to start this as a business for but also for the retail businesses to open more and more outlets online with a minimum cost of may be two to three thousand pound per annum providing customer with a lot of options with a click. With this, it may be concluded that online shopping mall is a feasible business for people with technical skills and knowledge. 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