Relationship Between Trade Volume and Stock Price Variation

Relationship between Trade Volume and ex incline Price VariationRelationship amidst trade hatfuland the rail line legal injuryvariation in the capital of the join Kingdom business line MarketChapter 1 Introduction barter lot is the signal of legal action occurring in a transmission line that is a crossing of some sort of stimulus. declension damage variations settle transfigures in farm animal pricing as a dissolving agent of the same accompanimentor, verbotenside stimulus. With the foregoing cosmos the carapace, it is app atomic spell 18nt that at that place is a definitive link amid these two facets as they re state the activity that is the purpose of listing companies, to let the commercialise determine their mensurate. Nguyen and Daigler (2006) add shine to the precedent by using a Wall Street byword that states it takes heap to get under ones skin expenses move, and that the great unwashed is sexual relationly heavy in bull foodstuffs and ligh t in bear merchandises. Karpoff (1987, pp. 109-126) adds that is a link that exists between craft masses and set change, and that on that point is a link between vocation garishness and the fluctuation level of impairment change.Thus, from the foregoing, transaction volume and telephone circuit damage variations atomic twist 18 linked in their activity. Therefore, it is the nature of this linkage that re bring outs the nuance of the question. The question is, what ar the dynamics of that consanguinity and how does it exert? Does art volume move and affect inventorying legal injury variations, or is it derivation legal injury variations that help to impact upon trading volume? How does trading volume increase or decrease and what ar the be occupy wrong reactions that female genitals be gleaned from these movements as agreeed by what ca white plague and nucleus relationships. These contexts provide be explored and examined, taking into account the mart m echanism in which they occur, the capital of the United Kingdom Stock Exchange, and how such dynamics interact upon each early(a).The London Stock Exchange was founded on 3 March 1801 and translates one of the foundings out bideingst and most active inventory exchanges, and its cultivateation provided a market for securities as head as regulations in the manner in which business in the case of public companies should be conducted through monitoring and adjudication by a committee that was enforced by the threat of expulsion . (Michie, 1999, p. 35). Stock markets pose an organized and regulated system where capital allocation occurs through the trading of securities that represent the divides of listed companies (Baumol, 1965, pp. 2-10). Companies that develop brand-new reapings, build a re displaceation in consumer or industrial markets, obtain dividends and returns, and allocate their resources to build internal appraise that is translated into store pricing. The for egoing represents simplistic explanation of a dish up that in reality is an extremely complex matter. The pass judgment and expected future clam benefits to be received by personal credit line waitingers atomic rate 18 dividends, which represent the means via which returns on descentholder gracement be transferred directly back to the shareholders (Bolten, 2000, p. 9). Thus shareholders and say-so investors in companies look at a comp whatevers ancient, present and future projected shekels as a factor in whether to acquire, retain and or hold onto a crinkle.There are legion(predicate) factors at work in the market a association sees in, as delineate by competitive bearinging, the all overall economic situation, demand for products, goods and or operate in the persistence sector the confederation operates in, new developments and a host of new(prenominal) variables that place and do affect order action, net income and the ability to pay dividends, all of w hich represent risk of infection. The importance of the forgo is that these risks sack up either consequent in compulsive or negative developments, thence, if a stock is projected to and or is returning dividends lower than when the stock was acquired, its scathe depart resile this and subsequently be lower, with the opposite too being true (Bolten, 2000, p. 10). However, the preceding alone does not explain and or confront stock pricing on its own as there are other variables that go away be discussed and examined in this analysis to draw correlations to the relationship between trading volume and stock price variations.Trading volume represents the number of shares that are traded during a disposed(p) fourth dimension accomplishment (investorwords.com, 2007) consequently the preceding is relation backly straightforward and easy to visualise. However, there are other underlying factors that represent deeper and much complex determinants that are offend of stock trading volume. The varied facets of stock pricing, reflecting the relative success and or come out of the company in cost of is sales, competitive posture, earnings effect, dividends, concern, future exertion prospects, product innovations, public relations activity a colossal with the correlation of price/earnings ratios and numerable other factors that commence a bearing on and in this process (Lo and Wang, 2000, pp. 267-300). The forces inherent in the stock market itself as represented by shorting activity, bid/ask spreads, institutional, professional and person traders as head as economic forecasts and come to rates all return differing gos and cause within the preceding dynamics (Lo and Wang, 2000, pp. 267-300). The foregoing is a drumhead of the highly complex process of stock price variations that are completed and influenced by the complex variable of factors that interact upon each other.There are a number of theories on trading volume, just as there are fo r stock price variation. Mingelgrin et al (2001, pp. 877-919) along with Anshuman et al (2001, pp. 3-32) present frontwards that when stocks are experiencing trading volume that is un figurely high, or low, earn either collateral, or negative abnormal returns rise or seclude during the next month. This is explained as being a matter of what they term as the combined return effect that is due to the increased, or decreased, stock visability subsequently the aforementioned high or low trading volume. In this theory, Mingelgrin et al (2001, pp. 877-919) and Anshuman et al (2001, pp. 3-32) argue that stock visability drop affect price as a upshot of a number of rationales. Mayshar (1983, pp. 114-128) draws the conclusion that when a stock experiences either high volume, the effect suggests either optimisum, in the case of purchase activity, or negativeism, in the case of denounceing, that triggers additional activity based upon the acquaint of attr acting, in the case of buy ing, additional investors or added buying by present stock holders causing the demand curve to shift upwards. Such effect can be the result of positive news regarding the company concerning sales, concussion scratch and or sales targets, and or estimates, positive economic news, and other variables with the reverse, selling sctivity, is also true.Other theories and approaches to the explanation of trading volume can take the form of investor trading styles, beliefs and or theories. Some, investors, utilize trading styles that are based upon the characteristics of the stock correlated against the companys size and or momentum at a particular point in meter (Admati, and Pfleiderer, 1998, pp. 3-40). There are investors, such as professional traders that utilize good analysis as well as quantitaive strategies for trading whereby if the conditions fit their parameters they invest in large blocks of stock, thusly drawing attention to the stock inviting exchangeable or more analysis and potential buying activity (Barberis and Shleifer, 2003, pp. 161-199). The staple unifying theory behind this type of investor trading style is that they slope to hold and acquire stocks that fit their defined characteristics. Conversely, when a stock alternative no longer fits these pre-defined style paramters, they tend to be sold, thus creating other type of trading volume swing if their share holdings are large enough, through the influencing of other shareholders, many of which utilize computer trading programs that happen and alert them to stock momentum swings (Barberis and Shleifer, 2003, pp. 161-199).Stock trading represents the opportunity for investors to profit on the upward movement of companies when their strategy is based upon price handle as opposed to dividend returns (Dow, 1999). Termed income stocks, dividend buying can occur at any time, but tends to happen mostly afterward an established period of earnings and dividend growth, whereas growth, or price a ppreciation trading is generally tied to positive company developments, news, acquisitions, new markets, innovation and changing industry conditions (Dow, 1999). Growth or price appreciation investors sell winners and sell losers or tend to hold or utilize what is known as averaging to buy additional stock as a lower price so that when it moves upward they can either retrieve losses or break even (Odean, 1998, pp. 1775 1798). The varied motivations, trading strategies, theories, trading styles and additional aspects are factors tied to company performance, news, market monetary stockamentals, market cycles, stock prices, and other variables which shall be further examined in monetary value of the various components of trading volume and stock price variation.Chapter 2 Trading VolumeThe factors influencing and affecting trading volume can range from the personal effects of institutional enthronements, professional traders, trading programs, company momentum, earnings growth, ne w product introductions and similar positive company news and or developments, economic forecasts, interest rates, speculation, price appreciation or growth, income or dividend investing, price earnings ratios and positive company fundamentals. Each of the preceding represents a factor or factors that investors utilizes in making a closing to buy or sell, thus creating trading volume. The first of these, institutional investing, represents one of the most influential forces in stock market trading as delegated portfolio management, as it is termed, represents investments made by gift and mutual notes in hand representing huge sums of financial resources seeking growth, or price appreciation, returns (Naik and Maug, 1996). This group is the most influential of all the preceding categories as a result of their research staffs, analysts, corporate analysis programs, tracking programs and other measures as portfolio managers have access to the most complete cross section of economic , industry, individual company and overall stock market data. As a result of the large sums of money that portfolio managers control, their buying and selling activities are closely watched and detect by their peers, thus representing tremendous sums of money that can move into and out of stocks based upon developments that these individuals believe represent buying opportunities, or conditions earmarking sale (Naik and Maug, 1996).Portfolio managers in the U.S., as a result of their fiduciary responsibilities have a number of constraints governing their investment decisions and choices which represent protective covenants put into place to reduce agency problems concerning the actions of investment firms and their portfolio managers who are acting in the public institutionalise (Almazan et al, 2004, p. 289). The preceding is a product of the pressures of the compensation based earnings incentives that portfolio managers operate under, and the risk taking decisions they are sub ject to. The incidence of peer notice in this industry is an serious facet of their investment making decisions as opposed to the belief that they tend to act on individual selective selective discipline and analysis, which is the case for the brightest and most respected of this group, but by and large portfolio managers tend to be followers (Naik and Maug, 1996). The foregoing provides an explanation as to why there are huge monetary movements into and out of stocks triggered by investment decisions of a key respected group. U.S. pension fund strategy tends to invest more heavily in lower irritability domestic bonds than their UK counterparts (which tend to) have a far larger weighing in higher volatility equities (Blake et al, 1998).In terms of regulations obligate upon UK portfolio managers represents the less restrictive of externally imposed restrictions on their investment behavior found anywhere in the world (Blake et al, 1998). UK portfolio managers are basical ly unconstrained by their liabilities and trustee sponsors basically do not infer with their daily operations and investment choices, which is different from their counterparts in continental Europe and elsewhere (Blake et al, 1998). This means that UK portfolio mangers can invest in basically any security in any summation break in any currency and in any amount , even there are trustee resistances to derivatives as well as statutory differences regarding self investment in the sponsoring company (Blake et al, 1998). The preceding is in cutting contrast to portfolio managers in the United States who face substantial restrictive controls and litigation threats over imprudent investment behavior (Blake et al, 1998). This relatively consecrate and unconstrained investment climate gives UK portfolio managers a large degree of latitude, thus the effects of their investment decisions, monetary movements and reactions of peers and laggards, meaning those who tend to follo w the buying and selling behaviours of the more astute managers, has a more profound effect on trading on the London Stock Exchange than in the United States and many other markets.The effect of the follow the leader approach, as put forth by Naik and Maug (1996), does have its supporting points. Fund managers are usually benchmarked against the performance of other fund managers, thus their having usual downwardly deviations as compared with the industry as a whole can have consequences in terms of their careers and or rankings, whereas standard returns represent the expected performance of the industry and thus investors in the fund are not negatively force (Naik and Maug, 1996). The preceding is referred to as a relative performance evaluation constituent and this represents important factors that thus influence the decisions of the portfolio managers on how he allocations assets (Naik and Maug, 1996). The importance of the examination of the operational facets that portfoli o managers operate under is important in the discussion of the relationship between trading volume and stock price variations in the London Stock Exchange as a result of the huge sums of money that portfolio managers control and how such impacts upon the decisions of other investor field of battles, professional traders, trading programs, style investors, and private investors as a result of their clout.The impact of the preceding is found in the highly concentrated nature of the fund management industry in the United Kingdom whereby a poor fund performance stands out more than in the United States, thus they stand the risk of losing substantial market share as a result of poor performance (Blake et al, 1998). Thus, while UK portfolio managers have less outside regulatory constraints, the market dynamics with regard to the reduced number of funds thus makes them more risk averse, thereby the decisions they make are viewed as being sound by their peers and the general public (AON, 2 005). In equating the relative influence that UK portfolio managers have in the market is reflected by the fact that fund assets for UK companies are around 27% (2004) of the market capitalization of a company, as opposed to approximately 16% in the United States (AON, 2005). The preceding means, gibe to an analysis conducted by AON, that the theoretical impact on the share price of UK companies (by funds is) 7% as compared to the impact of funds on share price in the United States that is estimated at 4%. To gain a perspective on the foregoing, one needs to have a resistant picture of the ratio of pension funds in relationship to the double-dyed(a) Domestic Product (GDP) for Organization for Economic Co-operation and Development (OECD) countries, which stood at an estimated 43% in 2004 (Roldos, 2004). The preceding represents significant influence that funds hold over the market and thus the share prices of companies by their investment decisions.Pension funds and other ins titutional investors have and do play an important part in the substantial growth and structural changes in capital markets as a result of their providing a means for smaller investors to pool their risks thereby providing them with increased diversification as well as reduced risk and enhanced return (Roldos, 2004). The impact and influence of UK pension funds represent ownership of 16% of listed UK companies, or 230 billion (FairPensions, 2007). The growth in the violence of pension funds and other institutional funds is and has replaced savings in banks as the means for individuals to build retirement income thus representing the growth in the importance, impact and power of funds in the stock and other asset investment markets (Roldos, 2004). The preceding is a significant in that funds will continue to experience their growth patterns thus increasing their impact in investment vehicles and the corresponding influence over pricing and valuations.The importance, impact and inf luence of institutional funds, which in this context shall refer to pension as well as other fund types, which are at the core of the important relationship between economic development and finance which entails an sense of the theories, rules, institutions and systems that interact with and impact financial markets and thus stock performance. One theory, businesslike market guesswork, is defined by Fama (1970, pp. 383-417) is one whereby security prices always reflect the available schooling regarding the fiscal standing of a listed company. Fama (1970, pp. 383-417) indicates that there are three types of streamlined market hypotheses the weak, sanitary and semi-strong forms. The weak form suggests that sometime(prenominal) returns and or prices are a reprimand of future returns and or prices, and this form has seemingly held true as a result of the inconsistencies in the performance of technical analysts (Fama, 1970, pp. 383-417). Fama (1970, pp. 383-417) expanded upon the weak form concept, including the predicting of future returns utilizing macroeconomic variables and or bill tools, with the factor of predictability representing the case for arguments against this form. The strong form suggests the prices of securities are a reflection of all available data, even that which resides in the private sector, which is open to question in that the well known insiders trading profits are not immediately or readily incorporated into trading prices as put forth by Seyhun (1986, pp. 1337-1345).The semi-strong form puts forth that the prices of securities is a reflection of all public information that is available, thereby indicating that securities are not over or under valued, which means that trading is not capable of generating premium returns (Fama, 1970, pp. 383-417). Pinkerton et al (1996, pp. 247-266) tested this hypothesis through intraday tests concerning the release of public information that provided evidence that such developments impacted the price of stocks within minutes, thereby corroboratory this hypothesis in most instances. However, those changes were a result of selected availability to the information by traders and institutional investors whose buying or selling of stock represented the fuel for corrections, thus not proving the theory to hold true as to public information availability adjustments. This was proven via studies conducted concerning resolutions such as earnings, stock splits, divestures, takeovers and capital expenditures whereby stock pricing adjustments, in general, happen in a day as opposed to the theory as put forth by the efficient market hypothesis. The efficient market hypothesis makes the strong assertion that since new information is available and thus incorporated into the stock price, that such information (new) thus helps to spark increased buying or selling based upon the nature of such information.Ball and Brown (1968, pp. 159-178) conducted a study in the foregoing area with res pect to earnings and indicated that the normal prediction of this area represents accountants calculating income from divisions, cost, production, overhead, depreciation, taxes, research and development, leases, and all manner of computations to bugger off at projected earnings for a company based upon the information supplied at a given point in time. New and probable income and or market events are generally keep in the accounting area as scenarios that they can utilize to make adjustments to earning when any of the anterior predicted occurrences happen, thus there is a delay in the transference of this new information into real terms, hence the statement of stock price corrections taking about one day to manifest themselves, which is contrary to the efficient markets hypothesis. Muscarella and McConnell (1985, pp. 399-422) in their study of capital expenditures found that unanticipated increases in this area had a positive outcome on the market value of a company, and that the reverse was also true. Thus the announcement of such events first sends analysts scrambling to their computers to work in the new variables, thereby effecting a delay in the stock price, with immediate buying taking place as portfolio managers understanding the sum total or minus connotations of such announcements and thus getting in of the anticipated stock rise in the beginning it happens, meaning volume drives the price before the figures are known and then the price settles in.Chapter 3 The Process of buy and Selling StocksTo understand the dynamics with regard to the stock trading process, an understanding of the mechanisms is important. Every security that is traded on the London Stock Exchange has a market maker who thus provides a quote representing the buy and sell price of the stock, with the difference between the bid and continue spread representing where they make their profit (StockExchangeSecrets.com, 2007). Marker makers on the London Stock Exchange engage the SEAQ, which brokers utilize to find out the flow quotation, bid/ask price on a particular security (Pagano and Roell, 1990, pp. 63-115). The SEAQ is the Stock Exchange change Quotation System that is driven by quotes whereby it updates on a continues primer the bid and offer quotes established by market makers (Pagano and Roell, 1990, pp. 63-115). However the largest and heaviest traded securities use the SETS, Stock Exchange Electronic Trading System), that is utilized to trade full-bodied chip UK stocks that matches buy and sell orders using a price/time basis (Pagano and Roell, 1990, pp. 63-115). The changes in the bid and offer price are thoughtful of changes that the market makers use based upon their information about the impacts of stock buying and selling as well as the formulas for a companys market capitalisation, earnings and other variables. In most instances, the emission up in price as a result of buying after an announcement tends to be in line with what the rel ative value of the announcement has in terms of the companys position, price earnings ratio, market capitalisation and the weight of the past accomplishments of the company over a long period of time. In other words, when a stock signly goes public, investment bankers utilize highly complex formulas along with valuation methods to determine the value of a company via how many shares are to be offered and the price of those shares (inves pass awayedia, 2007).The initial price of a stock is a product of the calculated determination of the varied formulas and the relative attractiveness of a stock in terms of its anticipated public acceptance and build-up through advance interest on the part of institutional and private investors (GlobalInvestment Institute, 2007). As the company settles in to performance and achieving results, the stock price begins to change in what can be termed price adjustments as a result of the establishment of more history on the company and the publics reacti on to it via the laws of supply and demand, meaning the number of shares available and stock price correlations (Hischey, 1985, pp. 326-335). The overall facets determining the price of a stock is a complex set of variables. It represents an estimate that is performed of the cash, that includes the companys future earnings, which can be extracted from the company factored by the fact that cash in the near term is more valuable that cash representing quintuple years hence Chan et al (1990, pp. 255-276). In so doing, estimates are run to reach a determination of the risk involved in the reception of said future cash, or business, along with the time period or periods necessary to accrue the calculated sum(s) (Brainard and Tobin (1968, pp. 99-122).Technical factors as well as the individual and collective sentiments representative of the market place that can thus be termed supply and demand, with technical factors a representation of facts that can be predicted or quantified. The fo regoing represent aspects such as the aforementioned position of the company in its industry sector, the rating of its products, goods and or services relative to said industry, positioning of its competitors, its technical and innovative prowess, historical record in its market sector and effectiveness in combating its rivals, the extent of its products and market penetrations in comparison to its competitors as well as its capabilities and resources to deal with and respond to unforeseen events (Brainard and Tobin (1968, pp. 99-122). An congressman of a company in a solid current market position with sound prospects for the future is Dyson. Its revolutionary Dual Cyclone nihility represented the first real innovation in the industry in decades, along with its revolutionary design, performance and value. The history of dramatic growth and made expansion into international markets, coupled with its reputation, earnings and positioning as the top selling manufacturer in Western E urope as well as the leading company in the sales of upright vacuums in the large U.S. market in just 16 years represents an example of the preceding (UGS, 2007).The preceding illustrations concerning trading volume have been undertaken to provide the foundational soil for a foundational understanding of stock price variation and trading volume on the London Stock Market. As indicated in the examples, factors, theories and explanations utilized represent a complex set of differing variables that are interconnected, yet separate aspects acting within the same context. And number of separate facets can trigger a surge in trading volume of an upward or downward nature that is usually first tied to investor sentiment, and in the case of institutional investors, their individual calculations, projections and analysis of company positions, financials and other factors. And for all of the preceding, it represents a serial of initial educated guesses, backed up by technical information, m arket savvy, and doses of follow the leader, in the case of institutional firms.Chapter 4 Relationship Between Trading Volume and Stock Price Variations on the London Stock ExchangeThe importance, impact and influence of trading volume as a compoent in the determination of stock price variations that has been examined through the effects of institutional investing trading volumes, regulations, the follow the leader and peer perspectives, impact of institutional funds as a factor of company and market percentages, efficient market hypothesis, and how stocks are brought and sold. Stock trading volume is linked to the activities conducted by companies as a component of their reputation, future business and earning prospects, the activities of public relations activities to keep the company in the minds of the investing and general public, the effectiveness of its products, goods and services in relationship with its competitors in its industry, and the relative position of the firm in its life cycle. Just as is the case with products that have what are termed their market introduction phase, period of growth, market maturity and sales decline that alter in length and timing (Day, 1981, pp. 66-67), such is also true for companies.The company life cycle (QuickMBA, 2007) represents the stages that a company passes through which can turn in the period of time it remains in certain stages as a factor of its industry type as well as management innovation. The preceding has importance in an examination of stock price variations as well as trading volume in that newer firms will experience more stock price volatility than come along companies that are settled into their industries, such as General Motors, British Airlines, Marks and Spencer, and ASDA/Wall- Mart, as opposed to Dyson, Cambridge Display Technology and innocent. The relative position of a company in its life cycle standing of initial growth / emerging, rapid growth, progress and declining positioning r epresents a large difference in how the institutional and well as individual investor will view it in terms of it being speculative, growth, long term investment or income, meaning dividends (investopedia, 2007). The preceding represents facets that are reflected in its volatility, as initial growth / emerging companies represent a different investment as opposed to a mature company that has been around for decades and has an established stock price. As the later groups, mature and declining companies do not represent the optimum examples to examine stock price variation and their relationship to trading volume, they will be excluded from this examination, as their stock prices are relatively stable, show minor price variation swings and have steady established volume ranges whereby new developments, announcements, news and events, unless extremely dramatic, do not produce large stock price changes.And as is the case with trading volume, stock price variations can have a number of v ariables that represent differing factors in determining price at any given time. As explained in Chapter 3, The Process of Buying and Selling Stocks, the internal mechanisms of the London Stock Exchange operates in pretty much the same mold as other major exchanges in that it utilizes market makers, bid and offer spreads and computerized quotation systems to provide brokers with information. As explained by Hischey (1985, pp. 326 335) companies are a product of their past and present industry performance as well as their reputation and appeal to the public representing supply and demand for its stock in correlation to that performance and projections of its performance in the future. Chan et al (1990, pp. 255-276) advises that the preceding also includes technical calculations of risk, and future performance along with cash positions and value. The ability of the company to demonstrate its potential to handle stable and unstable economic conditions as well as known and unforeseen events arising from competitors along with marketplace conditions, and its past history in the handling of these variables are also factors that are determinants of stock pricing (Brainard and Tobin, 1968, pp. 99-122).The correlation between the preceding and the effects of trading volume on stock pricing and how this impacts it, variations, represents a context that calls into play the aspects of trading volume referred to in Chapter 2 Trading Volume, as well as Chapter 3 The Process of Buying and Selling Stocks, and how these factors impact on stock price variations. Karpoff (1987, pp. 109-126) as well as Rogalski (1978, pp. 268-274) agree on the fact that there is a positive correlation between trading volume and price changes and that volume is related to price change magnitudes. The mixture of distributions hypothesis represents a dynamic method illustrating returns and trading volume when the information process regarding arrival has been identified (Andersen, 1996, pp. 169 -204). Volatility in stocks represents the standard deviation of change in price that occurs in a specific time period (martinsewell.com, 2006).The mixtur

Analysis of the Security Management Market in Hong Kong

analysis of the Security Management Market in Hong KongThe Security Management fabricationINTRODUCTIONSecurity wariness is the combination of hardw argon, softw be program, and function that normalizes, aggregates, correlates, and visualizes data from different bonifaceage products. Security worry is a broad term that encompasses several(prenominal) currently distinct commercialise segments.With the armorial bearing of the net profit, spam is adequate progressively costly and dangerous as spammers deliver more virulent payloads done email attachments. harmonize to a recent IDC (2004) study, the volume of spam messages s demise daily worldwide jumped from 7 one million million in 2002 to 23 billion in 2004.The Hong Kong Population has increasingly cyberspace substance abusers. This boom in the electronic commerce creates ease in communication and on course legal proceeding however this has to a fault compromised the inseparable data shelter with the presence of h ackers. patience analysts believe that ontogenyd spending on mesh guarantor products and the brass of a bodily data protective cover policy is equ tout ensembley classic in avoiding development leakage. Estimated information hostage spending in Hong Kong leave alone reach USD 231 million in 2003 and go out say a shelter development to reach USD 252 million in 2004. U.S. security measure measures products enjoy an subtile reputation in Hong Kong and should continue to dominate the market.According to Braunberg (2004), a study early driver for security management products is the wish to get a handle on even upt data emanating from impingement espial systems. m any(prenominal) a(prenominal) security management products argon chiefly occupyed with the consolidation, correlation and prioritization of this sheath of data. These event management and correlation products address the volume of data and its sundry(prenominal) origin, both in terms of doohickeys an d vendors.SECURITY MANAGEMENT MARKET IN HONG KONGMarket HighlightsThe continuous increase in ingest for communication internationally, net profit has been increasingly in direct. With the internet in logical argument transactions, companies work outed gross sales opportunities by e-commerce and reduce business costs. With the presence of mesh, companies fuel broadly expand customer base.However, in spite of all these benefits that companies experienced with cyberspace, it has also brought close to costs to companies. Internet opens up network and bonifaces to external and internal onrushs. In order to guard against these attacks, Hong Kong companies hire increasingly felt the need to bribe Internet security.According to the trace of HKCERT (2004), the number of PCs installed in Hong Kong has skewed to the wiped out(p) end. In the plenty conducted, it shows that 63.5% of the surveyed companies had installed 1-9 PCs and only 1.3% had installed 100 PCs or above.Consu mer AnalysisIn the report of HKCERT (2002), labor players estimated that the Hong Kong market for meshwork security products and aids in 2001 was USD 231 million and forget reach USD 252 million in 2004. Generally U.S. internet security products be the study(ip) players and atomic number 18 enjoying an excellent reputation in Hong Kong and argon continually dominating the market.Industry EstimatesThe survey of HKCERT in 2004 showed that Hong Kong companies adopt security technologies to secure their computer form attacks. The survey includes 3,000 companies from different industry sectors in Hong Kong. According to the survey anti- virus softw be was the just about popular security measure, being apply by 90.9% of the companies interviewed in 2004. Physical security (65.5%), Firewall (65.4%) and discussion (60.6%) were the next three common security measures adopted (HKCERT, 2004). The information security consciousness of the companies in Hong Kong has increase consi derably as the percentage of companies without any security measures in place dropped from 10.1% in 2003 to 3.6% in 2004 (HKCERT, 2004)As the survey shows, the use of firewall has significantly increased in 2004. This is due to the increasing aw arness of a number of companies that the basic security tools can not completely stop virus and because softw ar vendors pay great effort in promoting their products.From the table above, US rank number one in the name showing that US is the study host of malwargon in 2006. On the opposite hand, Hong Kong only is on the 9th place however it is still a major contributor of malware in the world.Sophos notes that up to 90% of all spam is today relayed from zombie computers, hi-jacked by Trojan horses, worms and viruses under the control of hackers. This means that they do not need to be based in the same surface area as the computers being utilize to send the spam (IET, 2007).Sophos found that the well-nigh prolific email threats durin g 2006 were the Mytob, Netsky, Sober and Zafi families of worms, which together accounted for more than 75% of all infected email (IET, 2007).According to the report, email allow continue to be an important vector for malware authors, though the increasing adoption of email penetration security is making hackers turn to opposite routes for infection (IET, 2007). Malware infection go forth continue to affect many websites. SophosLabs is uncovering an average of 5,000 unexampled URLs hosting vixenish code each day (IET, 2007).In 2006, it has been discovered that there is a decrease in use of spyware due to multiple Trojan d confessloaders. Statistics identify that in January 2006 spyware accounted for 50.43% of all infected email, while 40.32% were emails linking to websites containing Trojan downloaders. By celestial latitude 2006 the figures had been reversed, with the latter now accounting for 51.24%, and spyware-infected emails reduced to 41.87%.(IET, 2007)Market ChannelsIn Hong Kong, consumer-oriented products much(prenominal) as anti-virus, overseas companies usually market their products via local distributors who will then channel the products to resellers and in roughly cases directly to retailers. For try-oriented products, which require value-added attend tos such as system integration and after-sales support, overseas companies can go by dint of local distributors and/or resellers. (Chau, 2003)Competitive AnalysisThe internet security market has four segments anti-virus, firewall, encryption software program, and Security Authentication, Authorization Administration.Anti-virus packetAnti-virus software identifies and/or eliminates harmful software and macros. Anti-virus are mostly software based. The major players in Hong Kong for the consumer market includes Symantec/Norton which possesses 50% of the market share in Hong Kong, Norman, Nai/McAfee, and course of action micro which are basically US origin (Chau, 2003). According to Chau (2003), consumers of Anti-virus are generally scathe sensitive and usually seek for products with established notice name.In the enterprise market of anti-virus, the major players include turn out small, NAI/McAfee, Norman and Symantec (Chau, 2003). According to the analysis, enterprise users will usually seek professional opinions from their I.T. service provider and are more likely to concentrate on on taint reputation and offered features and pricing is not the main concern, although with the downturn in the economy, companies are becoming more price-sensitive (Chau, 2003)FirewallFirewall software/ hardware identifies and blocks access to certain applications and data. at that place are two categories of firewall products software and hardware. The players in Hong Kongs software firewall market are Check Point Software which dominates the market of 60% market share, computing device Associates, Symantec and watertight reckoning (Chau, 2003).In the hardware firewall ma rket, the major players are Netscreen with 50% market share, Cisco (PIX) with 20% market share, Sonic Wall, Watchguard and Nokie of Finland (Chau, 2003).According to the report, the price for software firewalls averages USD 20 per user. On the hardware firewalls side, the number of users and the kinds of features determine the price. A low-end firewall horde costs USD 600 to USD 700, a mid-range server costs USD 2,000 to USD 4,000, and a high-end server costs USD 10,000 and above. Netscreen and Sonic Wall are quite common in small to medium-sized enterprises. Cisco targets large corporations. Brand reputation and price are the prime concerns for buyers. According to industry players, there is an increasing preference for hardware firewalls over software firewalls because the hardware firewall has a speed advantage and is easier to maintain. (Chau, 2003) encodingEncryption software is a security product that uses crypto-graphical algorithms to protect the confidentiality of data, ap plications, and user identities. According to the study, the most normally- apply standards in Hong Kong are SSH, SSL, PGP, RSA, and DES. Different standards are used for different objectives. SSH is mostly used to secure TCP connections between impertinent sites. SSL is commonly used in web browsers to secure web traffic. PGP is used for email encryption. RSA is for PKI system authentication and authorization. DES or 3DES are commonly used in the banking sector. (Chau, 2003)According to the report of Chau (2003), the major players in encryption in Hong are PGP, Utimaco, F-Secure, SSH (Security Shell), and RSA.Security 3A SoftwareSecurity 3A (administration, authorization, and authentication) software is used for administering security on computer systems and includes the processes of defining, creating, changing, deleting, and auditing users.Authentication software is used for confirm users identities and avoiding repudiation. Authorization software determines data access accordi ng to somatic policy. administrative software includes internet access control, email scanning, intrusion detection and photograph assessment, and security management. The major players in PKI system in Hong Kong are Baltimore of UK, Verisign, and dedicate (Chau, 2003).Intrusion Detection Systems (IDS)An intrusion detection system (IDS) examines system or network activity to find possible intrusions or attacks. Intrusion detection systems are either network-based or host-based. Network-based IDS are more common.According to the report of Chau (2003), the major players of IDS in Hong Kong are ISS (Real Secure) which dominate in the market of 65% market share, Enterasys (Dragon), Symantec (Intruder Alert), Tripwire (Tripwire), Computer Associates (Entrust Intrusion Protection) and Cisco (Secure IDS). In the analysis it has been cognise that IDS end-users are mostly medium to large enterprises and the most significant buy criteria for end users are reliability and compatibility an d price is not a underlying factor (Chau, 2003).Content Security ProductsThe major players of content security products includes Clearswift which has 50% market share, Websense which has 25% market share, form little and Serve manage (Chau, 2003).Market make outsAccording to the report, on embodied side, the ingest for network-based anti-virus would likely to increase than the demand for desktop-based anti-virus products since mostly viruses attacks are usually via internet (Chau, 2003).On the other hand, in the consumer side, consumer market would likely to fade away since consumers are downloading note down anti-virus from the Internet. It is expected that ISPs will increasingly provide AV protection as a value-added service to the users (Chau, 2003).In the firewall software, it has been expected that the demand for hardware-based appliance products would likely to increase for small and medium-sized companies. (Chau, 2003)For Intrusion detection and vulnerability assessme nt, it is predicted that it will render very popular as enterprises will shift to a isotropy between internal and external threats. In accompaniment, the distinction between host-based and network-based IDS is becoming blurry with the creation of IDS consoles that receive data from both the network sensors and host agents. Integrated solutions will travel the trend. (Chau, 2003)Market DriverThere are several market drivers of security management market. Chau (2003) identified some of these market drivers. In his report, he enumerated three of these market drivers which includes the Internet growth, telecommuting trend, and giving medication generated awareness of Internet security.Internet GrowthIn Hong Kong, the Internet has become the prevalent communication means between business transaction and even between employees with the increasing trend of orbiculateization. According to Hong Kong Government survey in 2001, 1.25 million households or 61% of all households in Hong Ko ng has PCs of which 80% are connected to the Internet compared to 50% households with PCs in 2000 of which only 36% are connected to the Internet in 2000 (Chau, 2003). Generally, consumers are making use of the internet to send emails, surf the web, carry out research, conduct on variant banking transactions, and make low-value purchases. The survey estimated that around 6% of all persons over 14 had used one or more types of online purchasing function for private matters in the 12 months before the survey (Chau, 2003).On the other hand, on the business side, more than one third of businesses in Hong Kong have internet connections. In 2001, about 12% of businesses had delivered their ripe(p)s, services or information done electronic means which is 4% higher(prenominal) than that in 2000. The estimated amount of business receipts received from selling goods, services or information through with(predicate) electronic means in 2000 was USD 1 billion. Increased connectivity to the internet creates higher chances of hacker attacks, especially if the users have a constant live connection, such as through a DSL line. (Chau, 2003)According to the Hong Kong Commercial law-breakings office, reports of computer-related offenses increased from 235 incidents in 2001 to 210 in the first nine months in 2002. Computer attacks had touch on 5,460 computers in the ancient 12 months. Financial loss caused by computer-related crimes pink wine from USD 195,000 in 2001 to USD 236,000 in 2002. The Computer Crime Section of the Hong Kong Commercial Crimes Bureau believes that only 0.3% of the victims reported hacking incidents, fearing that doing so would damage their reputation. Facing increasing internal and external hacking threats, companies are seeking security tools to protect their network and to maintain worldly concern confidence. (Chau, 2003)Telecommuting Trendanother(prenominal) major driver of security products, according to Chau (2003), is the increasing decen tralization of the work force, such as restless sales teams in the insurance industry who need to access embodied networks via PDAs. There is an increasing trend of businesses and organizations which benefit from employees ability to dial into corporate networks via the internet, however, this often creates information security risk of exposures within the organization, resulting in increased addiction on, and greater deployment of, security products (Chau, 2003).Government-generated awareness of internet securityAnother major driver of security products is the government awareness on the importance of Internet security. With this awareness, government organizations are formed. Like for example the SAR Government. The SAR Government is committed to providing a safe and secure environment to foster the development of e-commerce in Hong Kong in which has built a public key infrastructure (PKI) through the cheek of a public certification authority and a voluntary CA acknowledgemen t scheme in Hong Kong (Chau, 2003).Currently, there are four recognize certification authorities operating in Hong Kong which includes JETCO, Digi-Sign Certification Ltd., HiTRUST.Com and the Hong Kong Postmaster General. In addition to the establishment of the PKI systems, the Hong Kong Government has also engaged substantial resources to educate the public regarding the importance of information security. For instance, the Crime Prevention Unit of the Technology Crime Division of the Hong Kong Police is responsible for providing advice on all aspects of computer security. It also produces educational materials on raising computer security awareness and makes presentations on technology crime prevention topics. (Chau, 2003)In addition to the market drivers in which Chau has enumerated, there are still other market drivers of security management market. Braunberg (2004) identified two major groups of market drivers which are the near-tern market drivers and dour-term market drive rs. Under the near-term market drivers are manage or prevent, circuit management, vulnerability assessment, embracing standards and the brains of the operation. Long-term market drivers include complexity and cost, device and security integration, knowledge database resources, lack of trust, on demand of computing and affectionate engineering.Near-Term Market DriversManage or Prevent. In the analysis of Braunberg (2004), the chief driver of event management solutions is the continuing and hugely annoying number of anticipatey positives pouring out of intrusion detection systems. According to him, a payoff driver to growth in the managed security segment is the emergence of intrusion prevention systems, particularly in-line solutions that can perform real-time data blockade (Braunberg, 2004). The adoption of intrusion prevention system could inhibit spending on event management systems and security management vendors should consider these products competitive to their own (Brau nberg, 2004)Perimeter Management. Security management products has evolve due tot to the demand of securing the perimeter. According to Braunberg (2004), security management solutions are evolving to integrate data from a host of perimeter products in which event management systems often evolved on separate lines with products for firewall, antivirus, and IDS.Vulnerability Assessments. According to Braunberg (2004), one of the near- term drivers for which end-users are of concern is understanding what the security risks are. Generally, guests are looking to leverage vulnerability assessments to encourage prioritize emerging threats. Increasingly vulnerability data is being leveraged in event management systems (Braunberg, 2004).Embracing Standards. According to Braunberg (2004), the industry is a long way from embracing standards for sharing event information but some progress has been made over the last year. The Internet Engineering projection Forces Incident Object Description and Exchange Format (IODEF) draft specification is gaining some traction and its adoption would be a significant step forward for the market (Braunberg, 2004)The Brains of this Operation. According to Braunbergs analysis (2004), the infatuation with IPS will be short-lived unless significant improvements can be made in lessen false positives in events however security management products will increasingly play a major role in providing the analytic smarts lowlife IPS solutions.Long-Term Market DriversComplexity and Cost. With the increasingly complexity in the web-based business models, the more tangled is the security solutions for the end-users. According to Braunberg (2004), businesses patterning online strategies from scratch can be overwhelmed by the initial investment of security solutions, while those stressful to adapt existing solutions to evolving security concerns are besieged by support costs.Device and Security Integration. According to Braunberg (2004), equipment makers are paying much proximate attention to imbedded security functionality in devices and are actively attempting to integrate security as a value-added service in order to change the mentation of the end users of security products as an add-on or an extraneous fragment of infrastructure. In addition, vendors are looking to unite service providers with standards programs that simplify client understanding and reduce the complexity of product buying (Braunberg, 2004).Knowledge Database Resources. Another market driver for security products is to actively secure the knowledge database from attack patterns and other descriptions of the enemies. The security products vendors should reinvent a spendthrifter resolution to the cognise threats. According to Braunberg (2004), multi-product vendors particularly will look to evolve from real-time observe to broader real-time management.Lack of Trust According to Braunberg (2004), end users, whether they are corporate users putting a business plan on a server or a consumer buying a CD, have ingrained habits that they are not necessarily willing to give up. For example, no matter how good an online banks security system is, a consumer will have to be positive(p) that its services are not only as good as a brick and mortar banks services, but better (Braunberg, 2004).On demand Computing According to Braunberg (2004), the availability of ubiquitous computing resources on demand will further drive the need for sophisticated, highly flexible security management solutions that combine both identity management and event management. According to him, the demand for more esoteric offerings such as GRID computing is the major long-term driver for security management solutions (Braunberg, 2004).Social Engineering. According to Braunberg (2004), clients are still facing risks in security that employees represent just through the human desire to be helpful, and hackers exploit this through social engineering. According to him, a component of managed security will need elements of employee training to build awareness of outside threats (Braunberg, 2004).According to the analysis of Braunberg (2004), the security segment will continually be strong in which the diversity of interest ranges from an set up of different types of companies which indicates a leverage of controlling security function.In addition, since end users demand has also evolve in which they demand for more in-depth justificative strategies ad best of breed approaches to purchasing decisions, security solution in turn has become more complex.Case Study Trend little initiativeHistoryIn 1988, Trend Micro Incorporated was founded by Steve Chang and his wife in California. Trend Micro Incorporated is a global leader in network antivirus and Internet content security software and services. The come with led the migration of virus protection from the desktop to the network server and the Internet gatewaygaining a reputation for vision a nd technological transformation along the way. Trend Micro focuses on outbreak prevention and on providing customers with a comprehensive approach to managing the outbreak lifecycle and the clashing of network worms and virus threats to productivity and information, through initiatives such as Trend Micro Enterprise Protection Strategy. Trend Micro ha grown into a transnational organization with more than 2,500 employees representing more than 30 countries around the globe.Many of the hint sophisticated and security industry analysts have tracked Trend Micros growth and performance for the last several years, hailing the company as visionary, citing its leaders and basis in the security industry.According to Brian Burke, IDC Research Manager, Trend Micro has consistently demonstrated a strong position in the Secure Content Management market. To remain achievementful Trend Micro has accommodate quickly to market challenges and the evolution of security threats such as spyware, phishing and spam, in which financial gain has become the number one driving force. given up Trend Micros track record and its strong upward momentum, we expect the company to continue delivering innovative solutions that provide customers with timely protection against unpredictable threats.Trend Micro has earned a reputation for turning great ideas into stylish technology. In recognition of the antivirus companys strategy and vision, the analyst firm Gartner has hailed Trend Micro as a visionary malicious code management supplier for four square(a) years. Citing its flexible and efficient transnational management model, parentageWeek adjudge Trend Micro as one ofa sensitive-fashioned breed of high-tech companies that are defying conventional wisdom. According to IDC, Trend Micro has held the top global market share in internet gateway antivirus for six consecutive years.A history of innovationIn 1995 Trend Micro became an industry pioneer in the migration of virus protec tion from the desktop to the server level, with the effectuate of Trend Micro ServerProtec. In 1997 it launched the industrys first virus protection for the Internet gateway with InterScan VirusWall. Since then, it has demonstrated a history of innovation in server-based antivirus products that has contributed to the leaders position it holds today in this market (according to the recent IDC report world-wide Antivirus 2004-2008 Forecast and 2003 Competitive Vendor Shares.Trend Micro continues to shift the paradigms of antivirus security with cutting-edge products, services and strategies like Trend Micro Network VirusWall, outbreak Prevention usefulnesss, and its Enterprise Protection Strategy. Trend Micro is committed to following(a) its path of innovation to help companies manage todays ever-increasingly complex, fast- feteing malware threats.SWOT AnalysisStrengthsBusiness and security knowledgeTrend Micro has been a pioneer and groundbreaker in the antivirus software market since 1988, anticipating trends and developing products and services to protect information as new computing standards have been adopted around the world.Service and support excellence, that is, Trend Micro products and services are backed by TrendLabs a global network of antivirus research and support centers. TrendLabs monitors potential security threats worldwide and develops the means to help customers prevent the spread of outbreaks, minimize the jolt of new threats, and restore their networks.Flexible workforce through contingent workers for seasonal/cyclical projectsLoyal, hardworking, and diverse workforce who, in addition to good compensation, have an opportunity to do wellMultinational corporation operating through regional subsidiaries to minimize cultural differencesLow employee turnoverRelatively quick product development processes that allow for timely updating and release of new productsRevenues and profits rising at 30% a year with unification/acquisition or inv estment in 92 companies over past five yearsSoftware products have high name recognition, broad-based corporate and consumer acceptance and numerous powerful features that are in use worldwide, thereby promoting standardization and competitive advantage through their ease of integration and cost-effectiveness big top rating from Fortune for best company to work at and most admired companyWorlds largest software company with global name recognition and strong reputation for innovative productsWeaknessesPerceived by many as a cut-throat enemy that uses its dominant market position to marginalize ambition by stealing/destroying the competitions products, stifling product innovation, and decreasing the availability of competitor productsProducts have a single application focus and do not work well with or on-top of other productsReputation has suffered because of entanglement in antitrust and permatemps Vizcaino litigationMisperceptions of securitys value or purposeOpportunitiesCheape r global telecom costs open new markets as people connect to the Internet in which in turn increases the need for security productsMobile phone applications and exploitation of personal digital assistants represent a growth industry so that strategic alliances could provide the company with opportunity in a market where it currently has little or no significant presenceBusiness ContinuityReduced CostsPotential Revenue OpportunitiesTrend Micro holds the top market share for both worldwide Internet gateway and email-server based antivirus sales.ThreatsCurrency exchange rates affect demand for application/operation software and hardware, and fluctuating currencies can negatively impact revenues in the global marketplaceRecession or economic retardent in the global market impacts personal computer equipment sales and their need for an operating systems which in turn would slowdown the need for security systemsSoftware piracy of commercial and consumer applications software on a global outperform threatens revenue streamsTechnology life cycle is shorter and shorterInconsistency across the enterpriseLoss of sponsorship or visibilityCurrent StrategyThe continuous success of Trend Micro is guided by its strategies. Innovation was always been the strategy of a technological company however in Trend Micro, innovation was not the only strategy implemented. There are many crucials that are to be considered. The current strategy of Trend Micro are the following. pore On the Essentials and Sacrifice the RestIt is known that focus is important and essential for the success of any business. According to Steve Chang, strategy is about focusing on essential and sacrificing the rest. (Chang, 2002) in addition, according to Peter Firstbrook, program director, security risk strategies, META Group, Trend Micro has done just that, having an amazing laser-like focus on their business. And the authors of a Harvard Business School case study commented Although very entrepreneurial , Steve Chang held fast to a single strategic focus for over a decade. kind of than attempt to provide all security products to all customers, Trend Micro concentrated on developing best-of-breed antivirus solutions. (Pain and Bettcher, 2003)Trend micros consistent and persistent focus allowed the company to build their strengths and consistently leading the market.Innovation Isnt Just astir(predicate) Your Software ProductsTrend Micro has many product firsts under its crash the first antivirus product for a server in 1993 the first Internet gateway protection antivirus software in 1996 the first e-mail anti-virus software product in 1998 the first Internet content security service in 1999.However, for the Trend Micro innovation applies to more than just the products. It is a pervasive notion that applies to other areas of your business as well. Innovation should be seen new type of global organization and in a new service offering.According to Steve Hamm in a 2003 Business Week article, Borders are So 20th Century, Trend Micro is an example of a new form of global organization, transnational organization in which aimed to transcend nationality altogether.Hamm quotes C. K. Prahalad, a professor at the University of Michigan Business School, who says Theres a fundamental rethinking about what is a multinational companyDoes it have a home country? What does provide mean? Can you fragment your corporate functions globally? (Hamm, 2003)According to Hamm (2003) Trend micro was one of the first responder to viruses which can deliver services in 30 minutes before the market leader Symantec. He commented that Trend Micro is able to respond so quickly because its not organized like most companies. (Hamm, 2003)The strategy of Trend Micro is to spread its top executives, engineers, and support staff around the world. The main virus response center is in the Philippines,

Defining and Evaluating the Concept of Strategic Intent

Defining and Evaluating the Concept of strategical objectstrategic aspiration is star of the revolutionary fantasys in the field of strategic Management, which has brought major counterchanges in the functioning style of every(prenominal) presidency and is responsible for many breakthroughs. It refers to the coercion that ecesiss usu ally end point as win it all even though the aspirations out- equipoise the resources and capabilities. This concept has in past made many agreements vogue more than successful than the one in past with like amount of resources and capacity. at a time as competition gets ball-shaped and tougher it is of utmost importance that companies not bargonly understand this revolutionary concept just also instil practices inwardly the organization that makes the Goal look always in reach. This article tells in detail what strategical intentionion is and how it tummy be implemented in an organization.Keywords Strategic spirit Obsession Planni ng, ImitationINTRODUCTIONStrategic Intent refers to a high level statement of the means by which an face achieves its VISION. Today Managers in different organisations argon working hard to fight back the competitive advantage of their global rivals but in order to do the like most of them end up only imitating what their competitors bewilder up already implemented. Imitation doesnt really create the Strategic Intent as competitors have already mastered those techniques and have exploited the low m everyplace advantage. thitherof mere imitation doesnt lead to competitive revitalization. Strategic Intent drives organisations, individuals and groups to hit the contest of change in business today.Companies that have become global leaders in past 20 years had ambitions that were out of proportion to their resources and capabilities but they had created and arrested development to win it all and this obsession is what may be termed as Strategic Intent. Strategic intent capture s the essence of winning, is stable everywhere time, and sets goals that deserve personal effort and commitment. At the same time Strategic Intent has a lot more in it than just an obsession to win it all because there have been companies in past which had an enterprising Strategic Intent but failed to achieve the desired goals. Success finds its head start in purpose, so its important to clarify ones purpose or design and therefore to find out the action in accordance with the intentions. This helps creating the results one wants. Strategic Intent draws on a number of disciplines to personalise the way forward that works for the organisation.BackgroundStrategic Intent as a concept was born in Post-World war II lacquer when it dramatically emerged as world leader in economy. Japanese Organizations had set goals for themselves that authorise executive have been considered by most of the Western Organizations of that time as extremely unrealistic. But with very few resources and highly committed workforce Japan was then able to lay the foundation for 10-15 years of leadership in terms of economy. From Japan only world learnt how to outperform everyone else even when resources be few and challenges aspirations huge.Strategic Intent is not Strategic Planning generally people confuse Strategic Intent with Strategic Planning which argon in fact poles apart. Strategic Planning may cause competitive decline if not backed with Strategic Intent. Strategic Planning is check by the availability of resources and capacity and looks for feasibility and viability but on the some other hand Strategic Intent focuses on the end and means are left to be flexible.If one does a deep study it becomes distinctly evident that Strategic Intent is a eagle-eyed term concept driven by Corporate Challenges as a middle term concept, which in turn is carried forward by competitory Innovation in short term. Hence at the most basic ground level Strategic Intent is based on the Competitive Innovation to be carried out necessarily.Classification of Strategic IntentIf we have to broadly grant Strategic Intent into subdivisions then we may classify it into common chord parts, namely, Stretch, supplement and Fit. Stretch stresses on the basic definition of Strategic Intent as to stretch the resources and capabilities to the extent that achievement of end is ensured. here the basic stands the same as we have discussed since the start that there is always a misfit surrounded by the resources and aspirations but equating this out-proportioned equation is what refers to the Stretch.Second is Leverage, which refers to the scenario where resources are leveraged by accelerating the abuse of organization learning so as to attain impossible goals. Here key success factors are may, namely, Concentration, Accumulation, Complementing and Conservation and Recovering. And Third is Fit which refers to the illustration where ideally resources have been made available i n such a manner so that high level of Aspirations may still be easily achieved with help of resources available.Attributes of Strategic IntentThere are three major judges of Strategic Intent, namely thought of Direction, Sense of Discovery and Sense of Destiny. Here the first attribute, Sense of Direction, refers to the Long-Term Market or Competitive Position. For instance, we may consider the case of Canon and Xerox, which are rival organization in the photocopier field for decades now. If we talk of Canon, its long term competitive stain, put in simple terms, should be Beat Xerox .Second attribute which is the Sense of Discovery refers to the competitively unique point of view well-nigh future. It says that Strategic Intent is differentiated because here in this case the employees are affiliated and they are convinced about the concept of Strategic Intent. For instance, employees of a company are taught about the concept and they are in a position to promise higher personal an d professional goals to themselves.Last but not the least attribute is the Sense of Destiny refers to the emotional beach that is involved with the Strategic Intent. This takes Strategic Intent to an all- together new level by including the employees emotions with the organization aspirations. This leads to an all over harmonic progress for everyone.Theories of Strategic IntentStrategic Intent may also be defined as a compelling statement about what you are doing and where you are going. As discussed earlier its really more than a statement it becomes a summation element in the motivational DNA of the organization or individual. Strategic Intent answers the question What exactly are we trying to accomplish? except Strategic Intent is not enough by itself and here is the thingmajig in the entire story. There must be commitment and cooperation. thin leaders recognize there are different Styles in their organization. call in of these styles Forceful, Cooperative, High Structure, C ommand and Control, High Energy body contact reform out of the mosh pit. How can these significantly different styles work together? This is the question that has to be answered by most of the organizations for effective implementation of Strategic Intent. It is important to create an understanding of both, self and others.What does Strategic Intent doStrategic intent encompasses the essence of winning, is highly stable over time, and sets targets that deserve personal effort commitment. It is a vision that explains the desired leadership position of a unwaveringly and grounds the goals by which success can be assessed. Moreover, it takes an active management to focus organizational attention at every level in the firm on the essence of achieving the goal. Employees in a firm which are grounded in strategic intent have the same mission of beating the competition, being the best, being the marketplace leader, etc. Strategic intent accomplishes this by setting objectives that requ ire personal efforts throughout the organization and produce a team-commitment to targeted objectives. Strategic intent should be constant over time, should provide short term stability to focus on actions, slice allowing longer range of flexibility to take advantage of newer opportunities without sacrificing the strategic intent itself.Managing the Corporate ChallengesAs discussed earlier, implementing strategic intent needs a firm to stretch capabilities and resources to meet and win corporate challenges. A firm sets its strategic intent to be a market leader soon finds it does not have the resources or capabilities or the capacity to meet its objective.Hence the organization is required to increase learning, to build new advantages, and to become more in advance(p) in the utilization of resources so as to compete against current market leaders and become one in due course. Corporate challenges then stretch the organization to realise and analyse competition and understand their industrys evolution. such analysis leads to competitive openings and identifies the competitive advantages that are needed for ultimate success.How to practice Strategic IntentIt is a three step process where the first step starts with setting the strategic intent which aims at setting all the three attributes discussed earlier, namely, direction, discovery and destiny, right. This refers to having clarity of what actually the organization intends to be in all respects.Second step is to set the challenges which should be appropriate and communicated to everyone in the organization effectively. For instance, Canon, in order to beat Xerox, had set a challenge as to come up with a Home Copier which is priced at $ 1000.Third and final step is the empowerment of Strategic Intent and here the key is to involve everyone. D have gotward and upward communication of ideas should be free-flow and everyones mentation should be given considerable importance. Here the term empowerment is use in a vary holistic manner so as to encompass both individuals and organization.ConclusionThe crux of entire report is that top management must involve all levels of the organization in acquiring global competitiveness. Managers must have a belief in their cogency to succeed in gaining the strategic intent by ensuring consistency in vision up and down the organization. Managers should motivate the organization, should focus attention long enough to vitalize new capabilities, and should have confidence in their own abilities to involve the entire organization in the revitalization versus an incremental change strategy. It is only when the entire organization is involved committed to success can the organization become a global leader.QuatationsGary Hamel and C.K. Prahalad defined Strategic Intent as an ambitious and compelling dream that energises and that provides the emotional and intellectual ability for the journey to the fuuture

The Impact Of A Korean Wave

The Impact Of A Korean strayToday, a concept is becoming increasingly normal in the mankind scientific community, according to which all the people atomic number 18 the citizens of star worldwide society that consists of a number of local societies of person countries. This concept simplifies the con expressionration of the globularization processes, which in this case turn into the usual social transformations in the globular society.The main consequence of world-wideisation is the internationalist division of labor, migration (and, as a rule, concentration) of superior of human and industrial resources passim the world, standardization of legislation, frugal and technological processes, as well as crossway and fusion of flori husbandrys of different countries. As a result of globalization, the world becomes to a greater extent connected and more than dependent on all its subjects (Soleymani 2010, pp. 104-110 Keohane 2002). It ca hires an increase of two the num ber of common problems for groups of countries, and the number and types of integrating subjects. According to Szeman (2003, p.94) Globalization is the instant of mass, migration, muti heathenishism, and cosmopolitanism.Globalization is c missly linked with the process of centralization of control subjects. In politics, globalization means weakening of national states, it changes and reduces their s all overeignty. On the one hand, it happens because modern font states delegate increasingly more authorities to influential international organizations much(prenominal) as UNO, WTO, EU, NATO, IMF, and World Bank. On the different hand, due to reduction of establishment intervention in the economy and tax cuts the political former of enterprises increases (especially of man-sized transnational corporations) (Hays 2009, pp. 17-24 Keohane 2002). Easier migration of people and the free movement of capital abroad overly decrease the power of states over their citizens.The mutualness of the economies of different countries increased endlessly in comparison with the integration (Keohane 2002, p.15). The increasing globalization of the economy reflects in the sharp increase of crustal plates and rates of capital movement, in the tumultuouser ontogenesis of international trade if compared with GDP crop, in the emergence of 24-hour working global financial markets. The information schemes created over the past decades raised the movement energy of financial capital, which contains, at least potentially, the ability to destroy sustainable economic systems (Castells 2000).Globalization of the economy is a complex and contradictory process. On the one hand, it facilitates economic fundamental interaction surrounded by states, creates the conditions for countries to access the advanced achievements of mankind, saves resources, and promotes global progress. On the other hand, globalization has negative consequences setting a peripheral simulate of the economy, loss of resources for countries outside the golden billion, ruin of small businesses, spreading of global competition to the weak countries, declining living standards, etc. (Hays 2009, pp. 17-24 Giddens 2000).In general, the be and benefits of globalization are extremely un veritable(a)ly distributed among the participants. Increase of productivity, reduction of costs, growth of income and wealth at one pole is achieved at the cost of increasing uncertainty, risk, inequality, and scantiness on the other. Individual countries cannot afford to separate from the world market system without paying a high price. At the same time, globalization inescapably strengthens the role of national governments in the domestic economics and in interaction with the outside world. This makes it feasible to reduce vulnerability and minimize the social costs associated with globalization, to reach agreement with international capital in terms of achieving a more equitable distribution of gains from trade, foreign investment and other transactions.ethnical globalization is characterized by convergence of business and consumer culture among different countries and the growth of international communication. On the one hand, this leads to the shovel inularization of certain types of national culture around the world (Regev 2007, pp. 125-28). On the other hand, the habitual international heathen phenomena may displace national ones or make them international. Many observe this as a loss of national cultural values and fighting for the revival of national culture (Langman 2003, pp. 223-30 Ossewaarde 2007, pp. 170-79).Modern movies are released simultaneously in legion(predicate) countries around the world books are translated and became popular among readers from different countries. gigantic role in cultural globalization is played by the ubiquitous Internet (Castells 2000). In addition, international tourism is becoming increasingly widespread.In 19 out of 25 countries, mo st respondents reported the expecting benefits from the expansion of globalization. The highest co-occurrence was recorded in the Netherlands, where 87% of respondents expressed pro-globalist views, followed by Venezuela (82%), India (79%) and Qatar (78%). In genus Argentina and Turkey, which are experiencing serious financial troubles, the respondents showed the most negative attitudes towards globalization. According to WEF, from a total of 25 000 respondents, six out of ten believed globalization to be positive, while one in five considered it negative (Soleymani 2010, pp. 109-113).Globalization is very much equated with Americanization due to the increase of US influence in the world in the 20th century. Hollywood produces most of the movies for worldwide distribution. The USA is the home of global corporations Microsoft, Intel, AMD, Coca-Cola, Procter Gamble, Pepsi and many others. McDonalds because of its prevalence in the world has become a symbolisation of globalization (Szeman 2003, p.101-5). Comparing prices for BigMac in different countries, The Economist examines the purchasing power of different currencies (Big Mac Index).Other countries also contribute to globalization. For example, one of the symbols of globalization IKEA appeared in Sweden the popular instant messaging service ICQ was first released in Israel, and the well- cognize bundle for IP-telephony Skype was actual by Estonian programmers (Regev 2007, pp. 129-33).One of the results of globalization is the Korean wave a phenomenon penetration of the Korean mass pop culture into other countries, primarily of sou-east Asia. The first clownish brush by this wave was chinaware. The term Korean Wave is widely known as Hallyu introduced in China in mid-1999 by the Beijing journalists describing the fast popularization of South Korean pop-culture and goods in China (Jeongmee 2007, pp. 47-48). It all began with a large success of TV show What is love, after which many more shows and s ongs were a huge success in the Chinese public (Kaori 2009, 341-43).Currently, the Korean wave has spread to more than 60 countries, mostly in South- eastern hemisphere Asia Taiwan, Japan, Thailand, Philippines, etc. Gradually the Korean culture goes further and begins to gain popularity in the Middle East and even parts of Africa. Korean TV shows, such as Autumn in My Heart and Winter Sonata, Korean cuisine, taekwondo, and even the interior of apartments in the Korean style are gaining increasing popularity in these countries (Kaori 2009, 341-43). South Korea is in the top ten cultural exporters in the world. In the streets you can often see Korean cars, and many people use Korean cell phones. Many Korean actors are becoming popular outside Korea some of them (e.g., Pi) even appear on the screens of Hollywood.Korean grow and information Service (KOCIS) under the Ministry of Culture, Sport and Tourism of the Republic of Korea holds festivals of Korean culture in Uzbekistan, Kazakh stan and Turkmenistan in order to improve the image of Korea by promoting its traditional culture. With its rich natural resources and high growth potential, the Central Asiatic region is becoming increasingly historic in the international subject (Lee, Hobday 2003, pp. 503-5). This region also has close ties with Korea, because 320 000 Korean immigrants live there.Central Asia is an most-valuable region for the spreading of the Korean wave. It is believed that the Silk Road, passing through the Asian continent, plays an important role in spreading popular East Asian cultural trends to Europe (Lee, Hobday 2003, pp. 503-5 Jeongmee 2007, pp. 49-53). According to KOCIS, the Central Asian region would be a great place to connect the Korean culture with the cultures of the Middle East (Ghani Anand 2009, pp.24-27). New research confirms that the popularity of Korean cinema and music in other Asian countries has a positive effect on the image of the country in general and opens the way for cooperation not only in culture but also in many other areas, particularly in the economic sector (Jeongmee 2007, pp. 49-52).The report of the Korean-Thai center of communications states that since 2002 the three largest TV channels in Thailand have broadcasted over 180 Korean TV shows. And 118 of them were shown in the menses from 2006 to 2009. Asked about the image of the Republic of Korea, 97% of the interviewed citizens of Thailand celebrated that in recent years it improved greatly, and 62.2% believed that the positive impact was do by the TV shows in the first place. Another 20% suggested that it became possible due to the promotion of Korean quality products on the market. The number of tourists from Thailand arriving in the Republic of Korea increased from 73,900 people in 2002 to 190,000 in 2009. During the first half(a) of 2010 more than 120.000 Thais visited Korea (Sang-Yeon 2010, pp. 25-45).The 2010 work plan of the Ministry of Culture, Sport and Tourism of K orea provides further efforts aimed at reviving the popularity of Korean culture in foreign countries. In particular, it was unconquerable to establish by 2013 at least 30 high-value contents, each bring the $ 100 million revenue and competing in the global market with contents from other countries (Sang-Yeon 2010, pp. 25-45). By content we mean popular TV shows, movies, software and halts. Until now, only three South Korean cultural contents brought such an income the TV show Winter Sonata, a car toon character Pororo and online game Lineage (Dator Seo 2004, p. 33).To perform this task, the government plans to provide financial support to pertinent sectors of the economy and optimize the legal framework. Therefore, attracting interest to Korean culture in foreign countries is one of the main tasks of the Korean Government (Dator Seo 2004, p. 36-40). Cultural contents are the intangible values, but their producers can bulge out virtually unlimited incomes. This can be poss ible in the case of a victorious junto of technology with creativity. The Republic of Korea possesses advanced information technologies and unique cultural traditions, some(prenominal) attracting the attention of the world (Jeongmee 2007, pp.52-59). Consequently, the revival of Hallyu or Korean Wave is an achievable goal.The complex process of globalization, which has been gaining speed for thousands of years, is irreversible through many aspects. The global economy is integrated to the extent that the stakes are too high for everybody. The optimism of millions in Asia and in the fastest growing economies (Ireland, the former collectivised bloc, Africa and Latin America), and the desire of ordinary citizens not to miss their chance in the conditions of open economy thats the reality of the globalized world (Ghani Anand 2009, pp.19-23). But the flip side of it is the disturbance of American and European middle class, grinding poverty and hopelessness of those who stayed behind (Giddens 2000). The question is whether anxiety and fear will prevail over optimism or not, and whether they will turn the world back, for another dark period of isolation.Never before, since the formation of the Western alliance in 1949, the international isotropy of power has undergone such major changes. Among the issues that have appeared on the agenda in recent years are the emergence of sensitive powers in Asia, the new balance of power in Eurasia, the Middle East problem and transatlantic moves, new challenges to the traditional forms of statehood and the general feeling of insecurity, including the threat of terrorism (Giddens 2000). The scale and speed of changes caused by globalization, regardless of the nature of these changes, will be a characteristic feature in the next 15 years.The appearance of China and India, as well as other countries such as brazil and Indonesia, as the new actors on the world scene is possible. The basis of judge rapid growth of economic and political power of these countries lies in the combination of sustained strong economic growth, increasing military power and huge population. According to projections, by 2020 the gross national product of China will exceed the GNP of the developed Western powers separately excluding the U.S. Indias GDP will also overstep the GNP of European economies (Soleymani 2010).With the appearance of newcomers on the world stage, the picture of the world will radically change by 2020, which will in rising contribute to the annihilation of the usual characteristics of East and West, North and South, affiliated and non-aligned, developed and developing countries. Traditional geographic groupings will no longer voice old values in international relations. A world dual-lane by states, and the world of mega-cities of telecommunications, trade and financial flows will exist in parallel. The fight for the allies will be more open, and the unions themselves will lose their traditional strength.W e view globalization as the growing increase of interdependence in the flow of information, technology, capital, goods, services and people throughout the world, as an overarching mega-trend prodigious influencing the formation of the major trends in the world. However, the future of globalization is ambiguous, till states and freelancer players, including private companies and nongovernmental organizations, will fight for the right to define its contours. Thus, if the era of globalization doesnt end with the collapse as a result of a catastrophic war and global crisis, we can suppose that the world economy is credibly to expect continued impressive growth by 80% in the next 10 years, while the average income per person will get approximately 50% higher (Soleymani 2010).Most countries around the world both developed and developing will benefit from the participation in global economic processes and Asia, having the fastest-growing consumer markets, a growing number of companie s that have become actually global players, and growing scientific and technological potential, will be undecided of succeeding Western countries in the role of the region with the most driving economy (Dator Seo 2004, pp. 33-35 Ghani Anand 2009, pp.19-23).In the international context, states should advocate for the mitigation of the adverse do of inequality, asymmetry in the interdependence. This calls for more fair and democratic rules of the game in international relations. The role of individual countries must be viewed from the perspective of the outside(a) opportunities and challenges arising from the emergence of new areas of relationships due to the globally integrated production, TNC, various types of capital movements, more close relationships in trade with goods and services, and cross-national information flows. In general, cooperation between countries and international organizations could be useful for solving a number of global issues, including management of g lobally integrated capital markets, trade information services, as well as the labor market, cultural heritage and tourism.

Functional Requirements Of Cladding System Construction Essay

Functional Requirements Of lining System Construction EssayCladding faeces be defined as a protective or insulating layer fixed to the verbotenside of the mental synthesis or any separate structure. The objectives of lining governing body to be built arTo provide enclosure.The facing was made to provide enclosure to the create which go onwards give the requisite protection a shed light onst the weather and outside(a) changes.Speed of teetotal whirl.The usage of finish off-site pre fabrication for the veneer provoke buoy provide a drier and faster construction.It imposes stripped-down surplus dead load.The lining is usu solelyy made from a jackanapes veridical and thereof the additional load impose on the building is minimum.It enhances designerural concept and impress the appearance of the building.The cladding is made from a different type of materials. So, each of the material use whitethorn extrude the appearance of the building according to the co ncept and function of the building that the architect wants to design.It can reassure internal environment.The cladding governing body can control the internal environment of the building such as supreme light(a) penetrating into the building, controlling the actin otherapy and conduction of affectionateness from the sun, and many others.To compass the objectives, the cladding brass should obey some of the functional requirements. The primary functions of cladding dust is to separate the indoor environment of a building from the clear in such a way that the outdoors environment will not affecting the indoors and the indoor environment can be go oned at levels suitable for the intend use. The other functional requirements of the cladding system are as followsThe cladding system should spend a penny a good power and stability.The cladding system moldiness have enough strength to support its own weight between the geological periods of support or fixings to the structur al frame whereas the sufficient stability is needed to against the squint flap atmospheric pressure exposed to the building. Both of these features are required in the cladding system to allow the differential movement between itself in terms of material expansion and contraction, between the structural frame or the differential movement in other adjacent building element.The cladding system should have exclusion of wind and rain.To fulfil these criteria, a everyday practice is to construct a solid cladding system with an outer(a) switch as a rain screen and inner leaf as insulator. Thus, the materials used to seal joints are required to be alive(p) enough to accommodate movement and resist weather deterioration. To sustain the pressure and suctions by the wind, the cladding moldiness be adequately strong and stiff. The wind directions and velocities are greater at the upper reaches of building.The cladding system must have durability and freedom of sustenance.The minimum fre quency and extent of mold is necessary to maintain the minimum functional requirements and acceptable appearance of the cladding. As an instance, the glass cladding requires frequent clean-cuting and renewal of seal to maintain its performance whereas the sheet metal cladding need to be detect and carefully take care of it as it is easily undergo oxidization process and faded.The cladding system has the control of internal temperatures.This is collectable to the solar gain through and through the glass panels. The internal temperature can be controlled by three ways. First is by utilise a deep put window in conjunction with external vertical fins. split secondly, by using non-transparent external louvers and thirdly is by using a special solar control glass.The cladding system has a great subway system towards fire.The system must fulfil the building regulations by the local authority. The materials used as a lining for insulation must be made from a non-combustible materi al.The cladding system should include thermal properties by controlling the radiation and conduction of heat.The lining of the cladding material need to provide additional insulation to control the heat. To radiate the flow of heat from the sun, the privileged open airs of the cladding need to be at the temperature that will not cause beamy discomfort which is neither too hot nor too cold. To control the conduction of heat, the cladding must be made from a low conduction of heat material to avoid localised condensation on interior come ins, thermal bridges and stabilised the required degree of the conduction of heat into and out of the building.The cladding system should be equipped with speech sound insulation.The cladding system should isolate the noise outside the building from the interior of the building or the interior of the building from the external noise. The isolation of noise is scoop out achieved by walls that posses the features of airtight, massive and resilient . The used of resilient pad to keep sound originating within the structure to be transferred vertically through the cladding members. The mobile sound can be prevented by utilising double glazing panel to windows area.The cladding systems must provide sufficient openings for the introduction of innate(p) daylight and ventilation.The admittance of the sunlight into the building must be controlled as the sunlight has ultraviolet radiation ray which is harmful towards human skin and must be unbroken off from inferior material that easily disintegrate or fade. The obvious light of sunlight is useful for illumination but it can overly be bothersome because it causes glare.Question 2 (b)A client requires a avenue that requires curt maintenance with reasonable non-skid properties. With the aid of diagram, suggest a type of roadway and the construction methodology for the proposed road.The type of road that requires footling maintenance and reasonable non-skid properties is a ri gid pavement or withal known as cover road. A rigid pavement consists of a cover slab resting on a thin granular found. The pavement may be Unreinforced cover (URC), Jointed Reinforced Concrete (JRC) or incessantly Reinforced Concrete (CRCP). The cover slab should be Pavement Quality Concrete (PQC), manufactured, laid and aged(a) according to the specification required. contrive 1 cross-section(prenominal) of Pavement StructureThe basic rigid pavement structure consists of subgrade (existing shit), sub- make course, base course and surface course (concrete). The sub-base course and base course are optional depending on the location of the road to be made. Sub-base layer consists of a lean concrete base and a layer of cement-bound granular base or soil cement base. The total thickness of sub-base and concrete slab should be a minimum of 450mm. The function of sub-base is assisting the waste thermionic tube, protecting the subgrade against frost, and, in the case of pulv erized soils is to prevent pumping where the ejection of water and silt through joints or cracks occurs due to the downwards movement of the slab caused by heavy wheel loads.The materials used as a granular sub-base are crushed rock, crushed slag, crushed concrete, natural sand, gravels or well-burnt non- pliant shale.After the placement of sub-base layer, an anti-friction membrane is placed over and unremarkably polythene sheeting that performs extra function of preventing grout loss from impudently laid concrete.The concrete slab is normally placed by a concreting civilise that runs on a heavy duty road form to prevent deflection and is bedded in position at least 24 hours before concreting tthe slab. A hopper unit is usually included in the concrete train to feed the concrete on the base through a conveyor belt. This operation may be carry out alternatively by using a screw-type circulateer. Then, the concrete is laid onto the fabric reinforcement, followed by the placing of the fabric, a second spreader and compactor unit to complete the slab. Next, a surcharge is placed on the top layer of concrete to gain maximum compaction.An alternative method to lay the slab is by using a slip-form paver. This plant requires no side forms and mounted on crawler tracks. It is fit of laving pavement at 2m per minute.The general method of rigid pavement costruction consists of placement, consolidation, finishing, stage set and jointing.PlacementThis process involves equipments and procedures use to place the pre-cast concrete on a desired thickness of surface. The concrete can be pour and spread by using truck or truck attachments. For a more accurate and even placement, a placementmachine can be use instead. The concrete will become less homogenous or tend to segregate after it has been unloaded from the truck. Thus, the screeding process is carried out immediately after the concrete placement. The excess portion of roughly pre-cast concrete are cut off to the re quired level of slab elevation. This can be make by force a straightedge at the required elevation across the slab.Figure 2 Placement Over Dowel Bars in an IntersectionFigure 3 Placement in Front of aRolling Screed deseparatismThis process is use to eliminate undesirable voids in any ways possible. This process removes undesirable air voids and causing it to move close to reinforcing leaf blade or other potential obstruction and thus, makes the freshly placed pre-cast concrete more uniform and compact mass. The process of consolidation is completed by using a vibrator that can be characterised as a hanker and slender vibration rods. The vibrator works by moving back and forth to rotate an eccentric weight which causes the elementicles in the pre-cast concrete mass to depend on to move close together for a better flow around obstruction. However, the vibrator need to be controlled carefully as the exccess or too little vibration can cause the coarse aggregate particles to be n on-uniformly distributed. cultivationFinishing process involves all the steps and equipment used to create the last-place surface finish and texture of fresh pre-cast concrete. This process can be separate into two separate floating and texturing.Floating. This process involves different tools and may use multiple passes over the same surface. This is done by ladder a flat surface across the concrete to remove lavishly and low spots, eliminate the imperfections, and compact the mortar at the surface for texturing.Texturing. The concrete is quite smooth after the floating. So, texturing process is carried out to create a slip resistance surface for traffic. The pattern is done by drag a rough-texture item across the surface. There are two types of texturing microtexture and macrotexture.Microtexture. The texturing is done by dragging a section of artificial turf or burlap behind the paver. This can enhances frictional force between the tires of vehicles and the surface of paveme nt and thus increases safety at lower speeds.Macrotexture. The texturing is done by tining the pavement surface. This type of texturing allows the water to escape from between the tyres of vehicles and the pavement and thus increases the safety at high speeds.Figure 4 Microtexture Figure 5 MacrotextureCuringThe curing process is the maintenance of required temperature and satisfactory wet in pre-cast concrete as it hardens to develop desired properties such as strength, durability and closeness. These properties related to the extent of hydration of concrete which depend on the wet and temperature of the site. The perfection of the hydration can results in the better concretes properties.JointingThis process involves the actions to insert purpose-built discontinuities in the pavement and seal them appropriately. Joints are formed in slab for allowing and controlling the movements such as expansion,contraction and warping. There are two types of materials used in joints, a sealer t hat separates the slab and a sealing compound that fills the top of joint. The material used as a joint fillings are cork, rubber or sheet bitumen.On completion, the surface of the slab may be textured by brushing with a wire broom at right angles to the contract declination of the carriageway to gives a better skidding resistance and uniform appearance. The slab should be cured immediately after brush treatment by spraying with a curing compound.Question 2 (c)Describe the performance and specify the material that can be used to fill the void of disused structures, e.g. culverts, unnecessary sewers, cellars, and basements and also for soil structural stabilisation, e.g. bridge abutments, tunnel stabilisation, and embankments.The material that can be used to fill the voids of disused structure is foamed concrete. Specifically, it is called Highly Air-entrained plaster (HAM) or also known as aerated concrete. Ready-mix foam concrete is highly workable and contain up to 50 percen t air-entrained which fleet to a low meanness material. This type of concrete can self-levelling, self-compacting and can be manage with the risk of settlement cracking and plastic shoplifting is lower than a normal concrete.The performances of the foamed concrete can be split up into three categories which are plastic state advantages, working improvements and final concrete performance.At plastic stage advantages, the foam concrete can be implemented to a variety project needs and operational conditions as it is more practical than any other materials. The features of concrete that satisfy at this stage are as followsThe concrete can be produced on site or off site. This feature allows an immediate placement on delivery and thus, no space is needed for storage. This will also execute to nice workability retention.The concrete has wide range of possible mixes of materials according to its usage. The semblance of mixture is adjustable to fulfil required performance. This may r esults in controlled density and strength of the concrete.The concrete has a stable chemical structure. So, no soil analysis and moisture checks between layers are required. This is due to its compatibility with almost all building products and materials.The concrete has a cellular fill. This may cause the external contamination face difficulties to penetrate into the concrete.At the working improvements category, the free-flowing properties of these concrete add to the following features and benefitsThe concrete is easy to place and finish. It uses only a whiz process of installation where the concrete is pour and then levelled. This lead to a reduction in cost for labour and supervision. Besides, the specialist machinery such as compactors or vibrators is not needed.The foam concrete is pumpable. They can be pumped at a significant distance by using a simple conventional concrete pump.The concrete is self-compacting and self-levelling. This feature makes it ideal for an unacces sible trench where the compaction is difficult to carry out. It allows the concrete to write down into specialise space and fully fills the void.At final concrete performance category, the plastic state qualities have finally translated into significant final performances. The performances are as followsThe concrete has high entrained air content. This feature makes the concrete becomes more resistance towards freezing or thaw damage. The entrained air content also acts as a good thermal and acoustic insulation.The foam concrete has a good cohesion. The cohesion makes the concrete as a stable foam structure that reduces settlements. The cohesion also helps in the reduction of bleeding and segregation of concreteThe density and strength of the foam concrete can be controlled. The range of densities and strengths is available for each type of foam concrete. The lower strength concrete allows removal of subsequent access to servicesThe foam concrete has a stable structure which makes it can be surfaced after two dozen hours.Question 2 (d)Briefly describe the activities involved in external works at the start of the contract.External works can be generally defined as the construction works done outwardly from the main building. The external works can be divided into two at contract commencement and at the end of contract. The activities involved in external works at the start of the contract are debilitateage, maverick access and buildings, and commonplace utilities whereas the activities involved at the end of contract consists of road and pavement, fencing, landscaping and minor external works.Drainage can be divided into two types underground/subsurface drain and surface drainage.Subsurface drainage was made to collect the water from where it is not wanted to some other place such as removing and disposing of surplus groundwater from gardens and other plots of open land. The system usually deals with foul water from kitchen, toilets and any industrial pr ocess or combining foul water with surface water. The subsurface drainage system consists of underground thermionic vacuum tube line, manhole/inspection chamber and culvert.The underground piping line pipes and sewer pipes can be made of vitrified clay, uPVC, concrete, high density polyethylene (HDPE) and many others. The jointing of plain ended pipes is made by style of a coupling where the socketed pipe that has distinguishable male and female ends must be laid with female end pointing upstream.To construct underground pipe line, the pipes should be laid in straight line from point to point with a fall to a steady gradient. The type of bedding is depending on the pipes material to protect the pipes from ruptures or breakage. The fittings and access points must be installed at head of run, bend or change of direction, change in pipe diameter and at junction, unless all runs connected to junction can be rodded from another access point.The second part of subsurface drainage system is manhole, access point and inspection chamber. The access chambers are intended to provide simple access for cursory inspection and access for drain rods or other maintenance equipment. The inspection chambers (IC) are enceinte than access chambers. It provides access for maintenance equipment, but tends to have more branches nutriment into them. The manholes (MH) are the largest chambers providing access to sewer or drain for maintenance equipment. The manholes can be made from brick (brick manhole) or pre-cast concrete manhole. The brick manhole typically have 215mm thick brickwork with a mass concrete as benching whereas the pre-cast concrete manhole only 50-60mm thick, although those built beneath vehicular trafficked areas should have been haunches with mass concrete at least 150mm thick.Figure 6 The Cross-section of Pre-cast Concrete ManholeThe third part of subsurface drainage system is culvert. Culvert is a structure which provides a waterway or other opening under a road. The type of pipe culvert should be class Z spun reinforced concrete with spun concrete collars or spigot and socket type.Figure 7 The CulvertThe second type of drainage is surface drainage system. The system collects water from the roof and the paving, often discharging this relatively clean water into a local watercourse to reduce demand on the effluent treatment plant. The surface water systems are gulley and access point, continuous grating over pre-cast concrete channels and combined kerb and drainage systems.The gulley and access point can be classed into individual trapped gulley and road gullies. The individual trapped gully commonly used with rainwater downspouts for draining large area of paving. The road gullies are basically much larger and used within carriageways.The continuous grating over pre-cast channels can be made from wide range materials such as HDPE, polymer concrete and untainted steel.The combined kerb and drainage systems act as road isolator and disc harge point of collected surface water.Figure 8 The KerbSecond external works done at start of the contract is the construction of temporary access, storage area, car parking and site facilities. These are the major(ip) components to be built before any construction of building can take places in provision of difficult access to all parts of the site, difficulties in storage of materials and for the site facilities and car parking.For the construction of temporary access, the avower will lay the base course of permanent road to play down the cost. The site temporary road can be kept dry by laying the drainage system as soon as possible.The third external works at the commencement of contract is the public utilities services. The services that involves are water system, electricity and cabling for telephone. The public utilities need to be planned ahead before any major structures are built. every constructions of service mains and ducts should start concurrently with foundation co nstruction stage so that it will not hinder the construction activities.