Whitepaper explores the issue of how governments can help citizens feel that it is "safe to play" in the connected world. It discusses the issues of trust and privacy and sets out a simple framework to help the public sector tackles these complex issues.
The document discusses the Dental Planning Information System (DPIS), a tool developed by the American Dental Association to help plan for dental workforce needs. DPIS uses statistical analysis of productivity and utilization data from dental offices to project the future supply and demand for dental services. Key factors in the model include the number of dentists and their productivity based on staffing levels and experience, as well as patient utilization rates based on demographics. While not a perfect system, DPIS aims to provide a more evidence-based approach to dental workforce planning than prior methods.
Johannesburg - South Africa Financial Blockchain Consortium - August 2017Juan Llanos
The impact of blindly following a regulatory framework created decades ago to deal with problems observed years before then. The amorphous term "regulation" disaggregated into a simple taxonomy to facilitate analysis and communication. The enormous gap between today's regulation and the challenges posed by open blockchain technology. The challenges and opportunities of self-sovereign identity. Financial KYC's spaghetti problem and how to solve it. The opportunity to leverage the design features and crypto economics attributes of open blockchains for self-regulation. The leading thought leaders in regulation for the blockchain age.
In ways yet to be seen, cybersecurity has already affected the “agency of the future.” Today, the world is interconnected like never before. As a nation, we must work collaboratively to ensure that cyber defense strategies are robust and effective to secure our way of life.
President Obama said during remarks at the White House, “the cyber threat is one of the most serious economic and national security challenges we face as a nation” and that “America’s economic prosperity in the 21st century will depend on cybersecurity.”
Throughout his tenure, President Obama has directed agencies to conduct a thorough analysis of the Federal Government’s efforts to protect data, information, communication and critical infrastructure. Often, we forget that every day Americans rely on cyber defense for our economic viability and security.
Cyber includes much more than just our personal identity and social security numbers. Every day, cyber defense is used to protect:
Broadband networks
Information networks that power business, hospitals and schools
Critical infrastructure
Classified government intelligence and documents
http://www.govloop.com/profiles/blogs/the-govloop-guide-winning-the-cybersecurity-battle
The document discusses guerrilla marketing and social media marketing. It provides examples of guerrilla marketing techniques like graffiti, street art, and viral campaigns. It also discusses using various social media platforms like Facebook, Twitter, and Digg to engage customers, create buzz, and spread content virally. The conclusion states that guerrilla and social media marketing aim to access customers on a personal level outside of traditional advertising and can help brands find customers and develop their identity.
Chapter 1: Getting Started (Kolin's Successful Writing at Work)Brooksie Lane
The document discusses writing skills that are important for career success. It notes that writing is a key part of every job as it allows employees to communicate and businesses to function. The ability to write well determines one's success at work. Additionally, as employees advance, they will be expected to do more and higher quality writing. Effective writing involves identifying the audience, establishing the purpose, formulating the message, and selecting an appropriate style and tone. Examples of persuasive anti-smoking advertisements targeting different audiences are also provided to illustrate these principles.
This document discusses how the City of East Point uses social media. It defines social media as online media that allows for conversation rather than just content delivery. The city uses social media like Facebook, Twitter, YouTube and LinkedIn to showcase success stories, promote events, manage reputation during crises, share photos and videos, and communicate about outages and repairs. Social media helps the city connect with residents and be available everywhere residents want to communicate. It encourages residents to follow the city's social media pages to receive event announcements and updates.
Inflation creates uncertainty about the future purchasing power of money which can discourage productive activity, saving, and investing. While the effects of inflation may initially benefit some, over time it generally builds and undermines confidence as prices continue to rise unpredictably.
Whitepaper explores the issue of how governments can help citizens feel that it is "safe to play" in the connected world. It discusses the issues of trust and privacy and sets out a simple framework to help the public sector tackles these complex issues.
The document discusses the Dental Planning Information System (DPIS), a tool developed by the American Dental Association to help plan for dental workforce needs. DPIS uses statistical analysis of productivity and utilization data from dental offices to project the future supply and demand for dental services. Key factors in the model include the number of dentists and their productivity based on staffing levels and experience, as well as patient utilization rates based on demographics. While not a perfect system, DPIS aims to provide a more evidence-based approach to dental workforce planning than prior methods.
Johannesburg - South Africa Financial Blockchain Consortium - August 2017Juan Llanos
The impact of blindly following a regulatory framework created decades ago to deal with problems observed years before then. The amorphous term "regulation" disaggregated into a simple taxonomy to facilitate analysis and communication. The enormous gap between today's regulation and the challenges posed by open blockchain technology. The challenges and opportunities of self-sovereign identity. Financial KYC's spaghetti problem and how to solve it. The opportunity to leverage the design features and crypto economics attributes of open blockchains for self-regulation. The leading thought leaders in regulation for the blockchain age.
In ways yet to be seen, cybersecurity has already affected the “agency of the future.” Today, the world is interconnected like never before. As a nation, we must work collaboratively to ensure that cyber defense strategies are robust and effective to secure our way of life.
President Obama said during remarks at the White House, “the cyber threat is one of the most serious economic and national security challenges we face as a nation” and that “America’s economic prosperity in the 21st century will depend on cybersecurity.”
Throughout his tenure, President Obama has directed agencies to conduct a thorough analysis of the Federal Government’s efforts to protect data, information, communication and critical infrastructure. Often, we forget that every day Americans rely on cyber defense for our economic viability and security.
Cyber includes much more than just our personal identity and social security numbers. Every day, cyber defense is used to protect:
Broadband networks
Information networks that power business, hospitals and schools
Critical infrastructure
Classified government intelligence and documents
http://www.govloop.com/profiles/blogs/the-govloop-guide-winning-the-cybersecurity-battle
The document discusses guerrilla marketing and social media marketing. It provides examples of guerrilla marketing techniques like graffiti, street art, and viral campaigns. It also discusses using various social media platforms like Facebook, Twitter, and Digg to engage customers, create buzz, and spread content virally. The conclusion states that guerrilla and social media marketing aim to access customers on a personal level outside of traditional advertising and can help brands find customers and develop their identity.
Chapter 1: Getting Started (Kolin's Successful Writing at Work)Brooksie Lane
The document discusses writing skills that are important for career success. It notes that writing is a key part of every job as it allows employees to communicate and businesses to function. The ability to write well determines one's success at work. Additionally, as employees advance, they will be expected to do more and higher quality writing. Effective writing involves identifying the audience, establishing the purpose, formulating the message, and selecting an appropriate style and tone. Examples of persuasive anti-smoking advertisements targeting different audiences are also provided to illustrate these principles.
This document discusses how the City of East Point uses social media. It defines social media as online media that allows for conversation rather than just content delivery. The city uses social media like Facebook, Twitter, YouTube and LinkedIn to showcase success stories, promote events, manage reputation during crises, share photos and videos, and communicate about outages and repairs. Social media helps the city connect with residents and be available everywhere residents want to communicate. It encourages residents to follow the city's social media pages to receive event announcements and updates.
Inflation creates uncertainty about the future purchasing power of money which can discourage productive activity, saving, and investing. While the effects of inflation may initially benefit some, over time it generally builds and undermines confidence as prices continue to rise unpredictably.
This presentation describes the types and characteristics of regional phishing attacks. We also describe the limitations of the phishing defense system of global browsers such as Google Chrome, and suggest ways to overcome them.
This document provides a summary of the findings from Phase 1 of a public engagement project in Canada from 2011-2014. It describes the range of public engagement activities happening across Canada, the knowledge and barriers of practitioners. Key findings include that 91% of survey respondents conduct work considered public engagement, with the top audiences being students and individual donors. Common challenges included funding, reaching new audiences, and evaluating intangible outcomes. The report provides recommendations on collaboration to help overcome challenges of public engagement.
This document discusses different types of entrepreneurs. It begins by defining an entrepreneur as an individual who identifies needs in the marketplace and works to fulfill them. It then lists important qualities of entrepreneurs such as determination, initiative, risk-taking, and creativity. The main part of the document categorizes entrepreneurs into different types based on: the type of business (manufacturing, trading, agricultural, technical), use of technology (technical, non-technical), ownership (private, state), gender (men, women), and size of enterprise (small-scale, medium-scale, large-scale).
Logistics management is a critical imperative for organizations. It involves planning and coordinating the efficient movement of materials and resources. An effective logistics system can lower costs and improve customer service by ensuring the right products are delivered to the right places at the right time. Several forces such as globalization, supply chain management, and outsourcing of non-core functions have increased the importance of logistics.
Governments all over the world are increasingly becoming more digital to better meet the needs of their citizens. The rise of new technology such as Artifical Intelligence and Blockchain are creating a Fourth Industrial Revolution where we must adapt or become obsolete. As the world becomes increasingly more connected it will be critical to the economic future of a country to have and implement a digital strategy. This SlideShare shares how technology can shape how Canadians conduct business with their Government.
Skyals is a blog website is an online platform that serves as a regularly post written content in the form of articles, essays or posts. These entries, often arranged in reverse chronological order, cover a wide range of topics and are typically personalized with the blogger's unique perspective, expertise, or experiences, variety of purposes, including personal expression, sharing knowledge, building a professional online presence, promoting products or services, or engaging with a community of like-minded individuals. They have become a popular and accessible way for individuals and organizations to communicate and connect with a global audience on the internet.
HOW TO TOKENIZE: PROCESS, POSSIBILITIES AND CHALLENGESLiveplex
Tokenization is the process of converting rights to an asset into a digital token on a blockchain. In this publication from Liveplex XYZ, we discuss the process of tokenization, what it takes to create assets, the possibilities this technology opens up and the challenges it still has to face towards mass adoption.
This document discusses innovations that matter for government and provides opportunities and upcoming trainings from GovLoop. It introduces GovLoop as the knowledge network for government and lists 12 opportunities for innovation, such as matching message to medium, virtual and blended learning, mandatory e-gov, and the internet of things. It also provides details on 4 upcoming GovLoop trainings in April, May, and July on topics like the future of digital public service, cybersecurity, and training from entry level to SES. It encourages signing up for trainings and provides contact information for the founder of GovLoop.
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Lodestar Battery Metals is exploring for battery metals like lithium and silver. It has acquired claims near a lithium discovery in Snow Lake, Manitoba. The presentation provides an overview of the company's strategy to focus on battery metal assets through exploration of its properties and potential acquisitions. It highlights the Peny property in Snow Lake which covers claims near a lithium deposit and has potential to provide shareholder value.
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The Nintendo Wii Presentation For Canada Professionals 2Ben Herz
This document discusses using the Nintendo Wii gaming system as an occupational therapy treatment for patients with Parkinson's disease. It summarizes evidence that physical activity, especially playing video games, can increase motor function and decrease Parkinson's symptoms. The study aims to determine if using the Wii can improve functional activities and motor skills for patients with Parkinson's in both the short-term and long-term following treatment. It hypothesizes that the Wii will increase patients' ability to perform daily tasks and functional movement, as well as decrease impairment, through interactive gaming sessions.
ADG Online Solutions is a full-service media agency that provides expertise in branding, advertising, interactive solutions, and integrated strategy. They have over 4 years of experience serving over 100 clients with a dedicated team of professionals. ADG builds and executes customized campaigns using research-based creative approaches to achieve clients' goals and cover wide audiences.
I begin by arguing that an important aspect of Bitcoin (value transmission) was already regulated before it was born. I present a review of the past few years with regards to how regulatory and law enforcement events have shaped (or will shape) the regulatory landscape for Bitcoin and virtual currencies in the future. I argue that the current policy goal priorities of national security, tax compliance and financial crime prevention, as well as the current identity paradigm (government-issued) are factors that contribute to financial exclusion and hamper innovation. I focus on the challenges to our mental models created by the advent of Bitcoin and crypto-currencies, and innovation opportunities in AML/CFT, privacy, identity and regulation. I invite all stakeholders to reflect on what side of history they would like to be.
Old material, but consolidated into one. “Financial inclusion and innovation are public policy choices that can be pursued by any nation of any size, as long as they have the courage to reinvent their regulatory frameworks.” I argue that any and all current efforts in FinTech and RegTech innovation, and the hope for financial inclusion of the underprivileged are futile. Another provocative keynote in which I present the roadblocks to financial inclusion and sustainable progress, and a vision of the transformative potential of open blockchains.
· The impact of blindly following a regulatory framework created decades ago to deal with problems observed years before then.
· The amorphous term "regulation" disaggregated into a simple taxonomy to facilitate analysis and communication.
· The enormous gap between today's regulation and the challenges posed by open blockchain technology.
· The challenges and opportunities of self-sovereign identity.
· The opportunity to leverage the design features and crypto economics attributes of open blockchains for self-regulation.
Immigration Compliance: How to keep the Government from knocking on the Door?jvelie
Immigration Compliance: How to keep the Government from knocking on the Door?
Some of the slides are missing content-email us information@velielaw.com or call 405-310-4333, for the full powerpoint presentation and information about a free strategy session.
Cultural And Behavior Influencing Urban DesignMitchell Lloyd
These three global cities - New York City, Paris, and Sydney - share the value of preserving their environment while maintaining their way of life. Factors that contribute to potential carbon footprint are population, economic output, and energy and carbon intensity. Efforts to lessen the carbon footprint include decreasing the amount of energy needed for production or decreasing dependence on carbon-emitting fuels. Consumer products also significantly impact the carbon footprint, with packaging materials, carpet, tires, and building materials being evaluated to reduce impacts. Alternative power sources are being tested to potentially leave less of a carbon footprint.
Safe Banking Act 2019: What You Need To Know!Ralf Kaiser
Our team at Integrated Compliance Solutions LLC and Sterling Compliance, LLC has come together to provide our thoughts and insights about the SAFE Banking Act!
Many of our bank partners have requested our conclusions on the proposed legislation and we have included those in this paper.
If you would like a copy of the document, message me, Ralf Kaiser here on LinkedIn, and I will send it to you.
11 Critical Areas of Cybersecurity Focus for Financial InstitutionsMICHAEL MOSHIRI
The document outlines 11 critical areas of cybersecurity focus for financial institutions based on a cybersecurity roundtable discussion held in February 2015. The areas include: 1) corporate governance; 2) management of cybersecurity issues; 3) security and risk management resources; 4) shared infrastructure risks; 5) intrusion protection; 6) security testing and monitoring; 7) incident detection and response; 8) ongoing training; 9) management of third-party service providers; 10) business continuity and disaster recovery; and 11) cybersecurity insurance. The document emphasizes that cybersecurity should be viewed as an integral part of overall risk management rather than just an IT issue, and financial institutions should conduct thorough evaluations of their unique cyber threat profiles.
Mobile Analytics for Advertising_Michael HanleySara Quinn
Part of the Mobile Communications Resource Center, this is one of several presentations created by Michael Hanley for Ball State University's College of Communication, Information and Media. All rights are reserved.
The document discusses planning for material and resource requirements in operations management. It describes the relationships between forecasting, aggregate planning, master scheduling, MRP, and capacity planning. A case study is provided on how a toy company develops its aggregate production plan and master production schedule to meet demand forecasts while maintaining consistent production levels and workforce. The master schedule is adjusted as actual customer orders are received to ensure demand can be met from current inventory and production levels.
a 12 page paper on how individuals of color would be a more dominant.docxpriestmanmable
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Governments all over the world are increasingly becoming more digital to better meet the needs of their citizens. The rise of new technology such as Artifical Intelligence and Blockchain are creating a Fourth Industrial Revolution where we must adapt or become obsolete. As the world becomes increasingly more connected it will be critical to the economic future of a country to have and implement a digital strategy. This SlideShare shares how technology can shape how Canadians conduct business with their Government.
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E1 Empowering Immigrant Seniors to Advocate for Better Community services: A ...ocasiconference
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The patient and her family are of Jewish background. The patient’s daughter is her primary caregiver and has financial power-of-attorney, but it is not known whether she has formal power of attorney for personal care. Concerns have been raised to the ICU team about the possibility of elder abuse in the home by the patient’s daughter.
Unfortunately, on postoperative day 4, the patient develops delirium with respiratory failure secondary to hospital acquired pneumonia and pulmonary edema. (Fluid in the lungs) Her goals of care were not assessed pre-operatively. She is admitted to the ICU for non-invasive positive pressure ventilation for 48 hours, and then deteriorates and is intubated. After 48 hours of ventilation, it was determined that due to the severity of her underlying cardio-pulmonary status (COPD and aortic stenosis), ventilator weaning would be difficult and further ventilation would be futile.
The patient’s daughter is insistent on continuing all forms of life support, including mechanical ventilation and even extracorporeal membranous oxygenation (does the work of the lungs) if indicated. However, the Mrs Ruth’s delirium clears within the next 24 hours of intubation, and she is now competent, although still mechanically ventilated. She communicated to the ICU team that she preferred 1-way extubation (removal of the ventilator) and comfort care. This was communicated in writing to the ICU team, and was consistent over time with other care providers. The patient went as far to demand the extubation over the next hour, which was felt to be reasonable by the ICU team.
The patient’s daughter was informed of this decision, and stated that she could not come to the hospital for 2 hours, and in the meantime, that the patient must remain intubated.
At this point, the ICU team concurred with the patient’s wishes, and extubated her before her daughter was able to come to the hospital.
The daughter was angry at the team’s decision, and requested that the patient be re-intubated if she deteriorated. When the daughter arrived at the hospital, the patient and daughter were able to converse, and the patient then agreed to re-intubation if she deteriorated.
(1) What are the ethical issues emerging in this case? State why? (
KRISTINA)
(2) What decision model(s) would be ideal for application in this case? State your justification.
(Lacey Powell
)
(3) Who should make decisions in this situation? Should the ICU team have extubated the patient?
State if additional information was necessary for you to arrive at a better decision(s) in your case.
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Bartol, C. R., & Bartol, A. M. (2017). Criminal behavior: A psychological approach (11th ed.). Boston, MA: Pearson.
Chapter 12, “Sexual Assault” (pp. 348–375)
Chapter 13, “Sexual Abuse of Children and Youth” (pp. 376–402)
To prepare for this Discussion:
Review the Learning Resources.
Think about the following two statements:
Rape is seen as a pseudosexual act.
Rape is always and foremost an aggressive act.
Consider the two statements above regarding motivation of sexual assault. Is rape classified as a pseudosexual act to you, or is it more or less than that? Explain your stance. Do you see rape as an aggressive act by nature, or can it be considered otherwise in certain situations? Explain your reasoning for this.
Excellent - above expectations
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Discussion posting demonstrates a
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Student interacts
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9 AssignmentAssignment Typologies of Sexual AssaultsT.docxpriestmanmable
9 Assignment
Assignment: Typologies of Sexual Assaults
There are many different types of sexual assaults and many different types of offenders. Although they are different, they can be classified in order to create a common language between the criminal justice field and the mental health field. This in turn will enable more accurate research, predict future offenses, and assist in the prosecution and rehabilitation of the offenders.
In this Assignment, you compare different typologies of sexual offenders to determine the differences in motivation, expression of aggression, and underlining personality structure. You also determine the best way to interview each typology of sexual offenders.
To prepare for this Assignment:
Review the Learning Resources.
Select two typologies of sexual offenders listed in the resources.
By Day 7
In a 3- to 5- page paper:
Compare the two typologies of sexual offenders you selected by explaining the following:
The motivational differences between the two typologies
The expression of aggression in the two typologies
The differences in the underlining personality structure of the two typologies
Excellent - above expectations
Points Range:
47.25 (63%) - 52.5 (70%)
Paper demonstrates an
excellent
understanding of
all
of the concepts and key points presented in the text/s and Learning Resources. Paper provides significant detail including multiple relevant examples, evidence from the readings and other sources, and discerning ideas.
Points Range:
42 (56%) - 47.2 (62.93%)
Paper demonstrates a
good
understanding of
most
of the concepts and key points presented in the text/s and Learning Resources. Paper includes moderate detail, evidence from the readings, and discerning ideas.
Points Range:
36.75 (49%) - 41.95 (55.93%)
Paper demonstrates a
fair
understanding of the concepts and key points as presented in the text/s and Learning Resources. Paper may be
lacking
in detail and specificity and/or may not include sufficient pertinent examples or provide sufficient evidence from the readings.
Points Range:
0 (0%) - 36.7 (48.93%)
Paper demonstrates poor understanding of the concepts and key points of the text/s and Learning Resources. Paper is missing detail and specificity and/or does not include any pertinent examples or provide sufficient evidence from the readings.
Writing
Points Range:
20.25 (27%) - 22.5 (30%)
Paper is
well
organized, uses scholarly tone, follows APA style, uses original writing and proper paraphrasing, contains very few or no writing and/or spelling errors, and is
fully
consistent with graduate level writing style. Paper contains
multiple
, appropriate and exemplary sources expected/required for the assignment.
.
The document discusses a new guidance published by Public Health England to enhance the public health role of nurses and midwives. It aims to make every contact with patients by nurses and midwives count towards health promotion and disease prevention. The guidance prioritizes areas like reducing preventable deaths, tackling long-term conditions, and improving children's health. It also emphasizes place-based public health approaches. The document outlines specific actions nurses and midwives can take to contribute to public health at the individual, community and population levels, such as providing health advice to patients and engaging with communities.
9 Augustine Confessions (selections) Augustine of Hi.docxpriestmanmable
9 Augustine
Confessions
(selections)
Augustine of Hippo wrote his Confessions between 397 -400 CE. In it he gives an
autobiographical account of his whole life up through his conversion to Christianity.
In Book 2, excerpted here, he thinks over the passions and temptations of his youth,
especially during a period where he had to come home from where he was studying
and return to living with his parents. His mother Monica was already Christian and
his father was considering it. They want him to be academically successful and
become a great orator.
From Augustine, Confessions. Translated by Caroline J-B Hammond. Loeb Classical
Library Harvard University Press 2014
(Links to an external site.)
.
1. (1) I wish to put on record the disgusting deeds in which I engaged, and
the corrupting effect of sensual experience on my soul, not because I love
them, but so that I may love you, my God. I do this because of my love for
your love, to the end that—as I recall my wicked, wicked ways in the
bitterness of recollection—you may grow even sweeter to me. For you are
a sweetness which does not deceive, a sweetness which brings happiness
and peace, pulling me back together from the disintegration in which I was
being shattered and torn apart, when I turned away from you who are unity
https://www-loebclassics-com.offcampus.lib.washington.edu/view/augustine-confessions/2014/pb_LCL026.61.xml
https://www-loebclassics-com.offcampus.lib.washington.edu/view/augustine-confessions/2014/pb_LCL026.61.xml
https://www-loebclassics-com.offcampus.lib.washington.edu/view/augustine-confessions/2014/pb_LCL026.61.xml
https://www-loebclassics-com.offcampus.lib.washington.edu/view/augustine-confessions/2014/pb_LCL026.61.xml
https://www-loebclassics-com.offcampus.lib.washington.edu/view/augustine-confessions/2014/pb_LCL026.61.xml
and dispersed into the multiplicity that is oblivion. For there was a time
during my adolescence when I burned to have my fill of hell. I ran wild and
reckless in all manner of shady liaisons, and my outward appearance
deteriorated, and I degenerated before your eyes as I went on pleasing
myself and desiring to appear pleasing in human sight.
2. (2) What was it that used to delight me, if not loving and being loved? But
there was no boundary maintained between one mind and another, and
reaching only as far as the clear confines of friendship. Instead the slime
of fleshly desire and the spurts of adolescence belched out their fumes,
and these clouded and obscured my heart, so that it was impossible to
distinguish the purity of love from the darkness of lust. Both of them
together seethed in me, dragging my immaturity over the heights of bodily
desire, and plunging me down into a whirlpool of sin. Your anger grew
strong against me, but I was unaware of it. I had been deafened by the
loud grinding of the chain of my mortality, the punishment for the pride of
my soul, and I went even further away from yo.
8.3 Intercultural Communication
Learning Objectives
1. Define intercultural communication.
2. List and summarize the six dialectics of intercultural communication.
3. Discuss how intercultural communication affects interpersonal relationships.
It is through intercultural communication that we come to create, understand, and transform culture and identity. Intercultural communication is communication between people with differing cultural identities. One reason we should study intercultural communication is to foster greater self-awareness (Martin & Nakayama, 2010). Our thought process regarding culture is often “other focused,” meaning that the culture of the other person or group is what stands out in our perception. However, the old adage “know thyself” is appropriate, as we become more aware of our own culture by better understanding other cultures and perspectives. Intercultural communication can allow us to step outside of our comfortable, usual frame of reference and see our culture through a different lens. Additionally, as we become more self-aware, we may also become more ethical communicators as we challenge our ethnocentrism, or our tendency to view our own culture as superior to other cultures.
As was noted earlier, difference matters, and studying intercultural communication can help us better negotiate our changing world. Changing economies and technologies intersect with culture in meaningful ways (Martin & Nakayama). As was noted earlier, technology has created for some a global village where vast distances are now much shorter due to new technology that make travel and communication more accessible and convenient (McLuhan, 1967). However, as the following “Getting Plugged In” box indicates, there is also a digital divide, which refers to the unequal access to technology and related skills that exists in much of the world. People in most fields will be more successful if they are prepared to work in a globalized world. Obviously, the global market sets up the need to have intercultural competence for employees who travel between locations of a multinational corporation. Perhaps less obvious may be the need for teachers to work with students who do not speak English as their first language and for police officers, lawyers, managers, and medical personnel to be able to work with people who have various cultural identities.
“Getting Plugged In”
The Digital Divide
Many people who are now college age struggle to imagine a time without cell phones and the Internet. As “digital natives” it is probably also surprising to realize the number of people who do not have access to certain technologies. The digital divide was a term that initially referred to gaps in access to computers. The term expanded to include access to the Internet since it exploded onto the technology scene and is now connected to virtually all computing (van Deursen & van Dijk, 2010). Approximately two billion people around the world now access the Internet regularl.
8413 906 AMLife in a Toxic Country - NYTimes.comPage 1 .docxpriestmanmable
8/4/13 9:06 AMLife in a Toxic Country - NYTimes.com
Page 1 of 4http://www.nytimes.com/2013/08/04/sunday-review/life-in-a-toxic-country.html?ref=world&pagewanted=all&pagewanted=print
August 3, 2013
Life in a Toxic Country
By EDWARD WONG
BEIJING — I RECENTLY found myself hauling a bag filled with 12 boxes of milk powder and a
cardboard container with two sets of air filters through San Francisco International Airport. I was
heading to my home in Beijing at the end of a work trip, bringing back what have become two of
the most sought-after items among parents here, and which were desperately needed in my own
household.
China is the world’s second largest economy, but the enormous costs of its growth are becoming
apparent. Residents of its boom cities and a growing number of rural regions question the safety of
the air they breathe, the water they drink and the food they eat. It is as if they were living in the
Chinese equivalent of the Chernobyl or Fukushima nuclear disaster areas.
Before this assignment, I spent three and a half years reporting in Iraq, where foreign
correspondents talked endlessly of the variety of ways in which one could die — car bombs,
firefights, being abducted and then beheaded. I survived those threats, only now to find myself
wondering: Is China doing irreparable harm to me and my family?
The environmental hazards here are legion, and the consequences might not manifest themselves
for years or even decades. The risks are magnified for young children. Expatriate workers
confronted with the decision of whether to live in Beijing weigh these factors, perhaps more than at
any time in recent decades. But for now, a correspondent’s job in China is still rewarding, and so I
am toughing it out a while longer. So is my wife, Tini, who has worked for more than a dozen years
as a journalist in Asia and has studied Chinese. That means we are subjecting our 9-month-old
daughter to the same risks that are striking fear into residents of cities across northern China, and
grappling with the guilt of doing so.
Like them, we take precautions. Here in Beijing, high-tech air purifiers are as coveted as luxury
sedans. Soon after I was posted to Beijing, in 2008, I set up a couple of European-made air
purifiers used by previous correspondents. In early April, I took out one of the filters for the first
time to check it: the layer of dust was as thick as moss on a forest floor. It nauseated me. I ordered
two new sets of filters to be picked up in San Francisco; those products are much cheaper in the
United States. My colleague Amy told me that during the Lunar New Year in February, a family
http://topics.nytimes.com/top/reference/timestopics/people/w/edward_wong/index.html
http://topics.nytimes.com/top/news/international/countriesandterritories/china/index.html?inline=nyt-geo
8/4/13 9:06 AMLife in a Toxic Country - NYTimes.com
Page 2 of 4http://www.nytimes.com/2013/08/04/sunday-review/life-in-a-toxic-country..
8. A 2 x 2 Experimental Design - Quality and Economy (x1 and x2.docxpriestmanmable
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
Make changes on the names, labels, and measure on the variable view.
Check the measure.
Have the same keys between “Name” and “Label.”
Run factor analysis for ys (dependent variables).
Select “Principal axis factoring” from “Extraction.”
The two-factor solution seems the best as (1) they are over one eigenvalue each and (2) the variance explained for is over 60%.
The new eigenvalues after the rotation.
The rotated factor matrix is clear.
But note that y3 and y1 are collapsed into one factor.
If not you should rerun factor analysis after removing the most problematic item one at a time.
Repeat this procedure until the rotated factor pattern has
(1) no cross-loading,
(2) no weak factor loading (< 0.5), and
(3) an adequate number of items (not more than 5 items per factor).
If a clear factor pattern is obtained, name the factors.
Attitude and purchase intention (y3 and y1)
Boycotting intention (y2)
Compute the reliability of the items of each factor
Make sure all responses were used.
Cronbach’s a (= Reliability a) must be greater than 0.70. Then, you can create the composite variable out of the member items.
Means and STDs must be similar among the items.
No a here should be greater than Cronbach’s a. If not, you should delete such item(s) to increase a.
Create the composite variable for each factor.
BI = mean (y2_1,y2_2,y2_3)
“PI” will be added to the data.
Go to the Variable View and change its “Name” and “Label.”
8. A 2 x 2 Experimental Design: - Quality and Economy (x1 and x2 as independent variables)
Dr. Boonghee Yoo
[email protected]
RMI Distinguished Professor in Business and
Professor of Marketing & International Business
BLOCK 1. Title and introductory paragraph.
Title and introductory paragraph
Plus, background questions
BLOCK 2 to 5. Show one of four treatments randomly.
x1(hi), x2 (hi)
x1 (hi), x2 (low)
x1 (low), x2 (hi)
x1 (low), x2 (low)
BLOCK 6. Questions.
Manipulation check questions (multi-item scales)
y1, y2, and y3 (multi-item scales)
Socio-demographic questions
Write “Thank you for participation.”
The questionnaire (6 blocks)
A 2x2 between-sample design: SQ (Service quality and ECON (Contribution to local economy)
Each of the four BLOCKs consist of:
The instruction: e.g., “Please read the following description of company ABC carefully.”
The scenario: An image file or written statement
(No questions inside the scenario blocks)
Qualtrics Survey Flow (6 blocks)
Manipulation check questions y1, y2, …, yn
Questions to verify that subjects were manipulated as intended. For example, if the stimulus is dollar-amount price, the manipulation check.
800 Words 42-year-old man presents to ED with 2-day history .docxpriestmanmable
800 Words
42-year-old man presents to ED with 2-day history of dysuria, low back pain, inability to fully empty his bladder, severe perineal pain along with fevers and chills. He says the pain is worse when he stands up and is somewhat relieved when he lies down. Vital signs T 104.0 F, pulse 138, respirations 24. PaO2 96% on room air. Digital rectal exam (DRE) reveals the prostate to be enlarged, extremely tender, swollen, and warm to touch.
In your Case Study Analysis related to the scenario provided, explain the following:
The factors that affect fertility (STDs).
Why inflammatory markers rise in STD/PID.
Why prostatitis and infection happen. Also explain the causes of systemic reaction.
Why a patient would need a splenectomy after a diagnosis of ITP.
Anemia and the different kinds of anemia (i.e., micro, and macrocytic).
.
8.1 What Is Corporate StrategyLO 8-1Define corporate strategy.docxpriestmanmable
8.1 What Is Corporate Strategy?
LO 8-1
Define corporate strategy and describe the three dimensions along which it is assessed.
Strategy formulation centers around the key questions of where and how to compete. Business strategy concerns the question of how to compete in a single product market. As discussed in Chapter 6, the two generic business strategies that firms can follow to pursue their quest for competitive advantage are to increase differentiation (while containing cost) or lower costs (while maintaining differentiation). If trade-offs can be reconciled, some firms might be able to pursue a blue ocean strategy by increasing differentiation and lowering costs. As firms grow, they are frequently expanding their business activities through seeking new markets both by offering new products and services and by competing in different geographies. Strategic leaders must formulate a corporate strategy to guide continued growth. To gain and sustain competitive advantage, therefore, any corporate strategy must align with and strengthen a firm’s business strategy, whether it is a differentiation, cost-leadership, or blue ocean strategy.
Corporate strategy comprises the decisions that leaders make and the goal-directed actions they take in the quest for competitive advantage in several industries and markets simultaneously.3 It provides answers to the key question of where to compete. Corporate strategy determines the boundaries of the firm along three dimensions: vertical integration along the industry value chain, diversification of products and services, and geographic scope (regional, national, or global markets). Strategic leaders must determine corporate strategy along the three dimensions:
1. Vertical integration: In what stages of the industry value chain should the company participate? The industry value chain describes the transformation of raw materials into finished goods and services along distinct vertical stages.
2. Diversification: What range of products and services should the company offer?
3. Geographic scope: Where should the company compete geographically in terms of regional, national, or international markets?
In most cases, underlying these three questions is an implicit desire for growth. The need for growth is sometimes taken so much for granted that not every manager understands all the reasons behind it. A clear understanding will help strategic leaders to pursue growth for the right reasons and make better decisions for the firm and its stakeholders.
WHY FIRMS NEED TO GROW
LO 8-2
Explain why firms need to grow, and evaluate different growth motives.
Several reasons explain why firms need to grow. These can be summarized as follows:
1. Increase profits.
2. Lower costs.
3. Increase market power.
4. Reduce risk.
5. Motivate management.
Let’s look at each reason in turn.
INCREASE PROFITS
Profitable growth allows businesses to provide a higher return for their shareholders, or owners, if privately held. For publicly trade.
8.0 RESEARCH METHODS These guidelines address postgr.docxpriestmanmable
8.0 RESEARCH METHODS
These guidelines address postgraduate students who have completed course
requirements and assumed to have sufficient background experience of high-level
engagement activities like recognizing, relating, applying, generating, reflecting and
theorizing issues. It is an ultimate period in our academic life when we feel confident
at embarking on independent research.
It cannot be overemphasized that we must enjoy the experience of research process
and not look at it as an academic chore.
To enable such a desired behaviour, these guidelines consider the research process
in terms of the skills and knowledge needed to develop independent and critical
styles of thinking in order to evaluate and use research as well as to conduct fresh
research.
The guidelines should be viewed as briefs which the Research Supervisors are expected
to exemplify based on their own experience as well as expertise.
8.1 Chapter 1 - Introduction
INTRODUCE the subject or problem to be studied. This might require the
identification of key managerial concerns, theories, laws and governmental rulings,
critical incidents or social changes, and current environmental issues, that make the
subject critical, relevant and worthy of managerial or research attention.
• To inform the Reader (stylistically - forthright, direct, and brief / concise),
• The first sentence should begin with `This Study was intended
to’….’ And immediately tell the Reader the nature of the study for the
reader's interest and desire to read on.
8.1.1 The Research Problem
What is the statement of the problem? The statement of the problem or problem
statement should follow logically from what has been set forth in the background of
the problem by defining the specific research need providing impetus for the
study, a need not met through previous research. Present a clear and precise
statement of the central question of research, formulated to address the need.
8.1.2 The Purpose of the Study
What is the purpose of the study? What are the RESEARCH QUESTION (S) of
the study? What are the specific objective (s) of the study? Define the specific
research objective (s) that would answer the research Question (s) of the study.
8.1.3 The Rationale of the Study:
1. Why in a general sense?
2. One or two brief references to previous research or theories critical in structuring
this study to support and understand the rationale.
3. The importance of the study for the reader to know, to fully appreciate the need
for the study - and its significance.
4. Own professional experience that stimulated the study or aroused interest in the
area of research.
5. The Need for the Study - will deal with valid questions or professional concerns
to provide data leading to an answer - reference to literature helpful and
appropriate.
8.1.4 The Significance of the Study:
1. Clearly .
95People of AppalachianHeritageChapter 5KATHLEEN.docxpriestmanmable
95
People of Appalachian
Heritage
Chapter 5
KATHLEEN W. HUTTLINGER and LARRY D. PURNELL
Overview, Inhabited Localities,
and Topography
OVERVIEW
Appalachia consists of that large geographic expanse in
the eastern United States that is associated with the
Appalachian mountain system, a 200,000-square-mile
region that extends from the northeastern United States
in southern New York to northern Mississippi. It includes
all of West Virginia and parts of Alabama, Georgia,
Kentucky, Maryland, Mississippi, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Tennessee,
and Virginia. This very rural area is characterized by a
rolling topography with very rugged ridges and hilltops,
some extending over 4000 feet high, with remote valleys
between them. The surrounding valleys are often 2000
feet or more in elevation and give one a sense of isolation,
peacefulness, and separateness from the lower and more
heavily traveled urban areas. This isolation and rough
topography have contributed to the development of
secluded communities in the hills and natural hollows or
narrow valleys where people, over time, have developed a
strong sense of independence and family cohesiveness.
These same isolated valleys and rugged mountains pre-
sent many transportation problems for those who do not
have access to cars or trucks. Very limited public trans-
portation is available only in the larger urbanized areas.
Even though the Appalachian region includes several
large cities, many people live in small settlements and in
inaccessible hollows or “hollers” (Huttlinger, Schaller-
Ayers, & Lawson, 2004a). The rugged location of many
communities in Appalachia results in a population that is
often isolated from the mainstream of health-care ser-
vices. In some areas of Appalachia, substandard secondary
and tertiary roads, as well as limited public bus, rail, and
airport facilities, prevent easy access to the area (Fig. 5–1).
Difficulty in accessing the area is partially responsible for
continued geographic and sociocultural isolation. The
rugged terrain can significantly delay ambulance response
time and is a deterrent to people who need health care
when their health condition is severe. This is one area in
which telehealth innovations can and often do provide
needed services.
Many of the approximately 24 million people who live
in Appalachia can trace their family roots back 150 or
more years, and it is common to find whole communities
comprising extended, related families. The cultural her-
itage of the region is rich and reflected in their distinctive
music, art, and literature. Even though family roots are
strong, many of the region’s younger residents have left
the area to pursue job opportunities in the larger urban
cities of the north. The remaining, older population
reflects a group that often has less than a high-school edu-
cation, is frequently unemployed, may be on welfare
and/or disability, and is regularly uninsured (20.4 per-
cent) (Virginia He.
8-10 slide Powerpoint The example company is Tesla.Instructions.docxpriestmanmable
8-10 slide Powerpoint The example company is Tesla.
Instructions
As the organization’s top leader, you are responsible for communicating the organization’s strategies in a way that makes the employees understand the role that they play in helping to achieve the organization’s strategies. Design a presentation that explains the following:
The company is Tesla
1. Your Organization's Mission and Vision
2. Your organization’s overall strategies and how they align with the Mission and Vision
3. At least five of your organization’ strategic SMART goals that align with the overall organizational strategy
4. At least three different departments’ specific roles in helping to achieve those strategic SMART goals
5. This can be a PowerPoint presentation with a voice-over or it can be a video presentation.
Length: 8 – 10 slides, not including title and reference slide.
Notes Length: 200-250 words for each slide.
References: Include a minimum of five scholarly resources.
I will do the voice over. I do not need a separate document of speaker notes as long as the PowerPoint has the requested 200-250 words for each slide
.
8Network Security April 2020FEATUREAre your IT staf.docxpriestmanmable
8
Network Security April 2020
FEATURE
Are your IT staff ready
for the pandemic-driven
insider threat? Phil Chapman
Obviously the threat to human life is
the top concern for everyone at this
moment. But businesses are also starting
to suffer as productivity slips globally
and the workforce itself is squeezed.
The UK Government’s March budget
did announce some measures, especially
for small and medium-size enterprises
(SMEs), that will make this period
slightly less painful for organisations.
However, as is apparent from the tank-
ing stock market (the FTSE 100 has
hit levels not seen since June 2012) the
economy and pretty much all businesses
in the country (unless you produce hand
sanitiser) are going to suffer. There is no
time like now for the UK to embrace
its mantra of ‘keep calm and carry on’
because that is what we must do if we’re
going to keep business flowing.
For the IT department at large there is
lots of urgent work to do to ensure that
the business is prepared to keep running
smoothly even if people are having to
work remotely. The task at hand for cyber
security professionals is arguably even
larger as Covid-19 is seeing cyber criminals
capitalising on the fact that the insider
threat is worse than ever, with more people
working remotely from personal devices
than many IT and cyber security teams
have likely ever prepared for.
This article will argue that the cyber
security workforce, which is already suf-
fering a digital skills crisis, may also be
lacking the adequate soft skills required
to effectively tackle the insider threat
that has been exacerbated by the pan-
demic. It will first examine the insider
threat, and why this has become so
much more insidious because of Covid-
19. It will then look into the essential
soft skills required to tackle this threat,
before examining how organisations can
effectively implement an apprentice-
ship strategy that generates professionals
with both hard and soft skills, includ-
ing advice from the CISO of globally
respected law firm Pinsent Masons, who
will provide insight into how he is mak-
ing his strategy work. It will conclude
that many of these issues could be solved
if the industry didn’t rely so heavily on
recruiting graduates and rather looked
towards hiring apprentices.
The insider threat
In the best of times, every cyber-pro-
fessional knows that the biggest threat
to an organisation’s IT infrastructure
is people, both malicious actors and
– much more often – employees and
partners making mistakes. The problem
is that people lack cyber knowledge and
so commit careless actions – for exam-
ple, forwarding sensitive information to
the wrong recipient over email or plug-
ging rogue USBs into their device (yes,
that still happens). Cyber criminals
capitalise on this ignorance by utilising
social engineering tactics ranging from
the painfully simple, like fake emails
from Amazon, to the very sophisticated,
such as.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
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Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
The chapter Lifelines of National Economy in Class 10 Geography focuses on the various modes of transportation and communication that play a vital role in the economic development of a country. These lifelines are crucial for the movement of goods, services, and people, thereby connecting different regions and promoting economic activities.
2. side with the private/public sector to help deter,
detect and identify terrorist activity in New York
City through information sharing as the head of
NYPD Shield programme. Lt. Amadeo has a BA
in Political Science, a Graduate Certificate in
Police Studies and will be completing a Master
o f Science degree in Security Management
in 2016. He is also a graduate o f the 231st
Session FBI National Academy.
Detective Sergeant Steve lannone has over
27 years with the NYPD. He began his career
in 1989 in Brooklyn and served in several com-
mands around the City in uniform and plain
clothes both as an Officer and a Supervisor.
He was promoted to Sergeant in 2002 and was
assigned to Manhattan’s West side. In 2005 he
was offered a position with the Counterterrorism
Division and tasked with developing the NYPD
Shield Unit. Because of his successful efforts,
he was promoted to Detective Sergeant and
has remained with the Shield programme since
its inception. Detective Sergeant lannone has
an Associate’s Degree in Electrical Technology,
numerous certifications in Emergency
Preparedness from The Department of
Homeland Security and is a Certified Business
Continuity Professional through the Disaster
Recovery Institute International.
A bstract
This article will identify the challenges that post
9/ 11 law enforcement faces regarding private-
public partnerships and describe in detail the
N Y P D Shield programme, created to combat
3. those challenges. Recommendations made by the
911 Commission included the incorporation of
the private sector into future homeland security
strategies. One such strategy is N Y P D Shield.
This programme is a nationally recognized
award-winning public-private partnership dedi-
cated to providing counterterrorism training and
information sharing with government agencies,
non-government organizations, private busi-
nesses, and the community. Information is
shared through several platforms that include a
dedicated website, instruction of counterterrorism
training curricula, e-mail alerts, intelligence
assessments and the hosting of quarterly confer-
ences. This article also details how the N Y P D
Shield is providing its successful template to
other law enforcement agencies enabling them
Page 106
mailto:[email protected]
mailto:[email protected]
to initiate similar programmes in their respective
jurisdictions, and in doing so joining a National
Shield Network.
Keywords: NYPD Shield, counterter-
rorism training, information sharing,
public-private partnership, force multi-
plier, National Shield Network
INTRODUCTION
B efo re th e te rr o ris t attacks in N e w Y ork
C ity in S e p te m b e r 2 0 0 1 , th e N e w Y ork
4. C ity P olice D e p a r tm e n t (N Y P D ) was
c o n fid e n t in its ability to h a n d le any an d
all c r im e i n th e city. A lready to u tin g re c o rd
re d u c tio n s in c rim e u n d e r past ad m in is-
trations, N e w Y ork C ity was b e c o m in g
th e safest larg e city in th e U S A . B efore
1 1 th S e p tem b er. 2001 fig h tin g te r r o r was
largely c o n sid e re d th e responsibility o f
federal p a rtn e rs. A fte r lo sin g 23 p o lice
officers in th e fine o f d u ty an d m an y m o re
in th e years to c o m e, th e N Y P D d e c id e d
to d o w h a t it can to e n te r th e fig h t against
te rr o ris m in N e w Y ork City. S ince 9 /1 1 ,
th e global w a r o n te r r o r has n o w b e c o m e
th e resp o n sib ility o f law e n fo rc e m e n t as
w ell as th e p riv ate se c u rity profession
across th e c o u n try .
K n o w in g th a t ap p ro x im a te ly 85 p e r c e n t
o f critica l in fra stru c tu re , in telle ctu al p ro p -
e rty an d sensitive c o rp o ra te in fo rm a tio n
in th e U S A are p ro te c te d b y th e alm ost
1 m illio n s e c u rity officers in th e p rivate
se c to r s e c u rity in d u stry (U S G o v e rn m e n t
A c c o u n ta b ility O ffice, 2006), th e N Y P D
realised th a t it n e e d e d to engage this valu-
able reso u rce. T h e b en e fits o f p a r tn e rin g
w ith th e p riv a te se c u rity in d u stry can
b e tallied exponentially. As an exam ple,
after re c e iv in g N Y P D S hield train in g ,
se c u rity officers w h o have b e e n ed u c ated
o n th e N e w Y o rk C ity te rro ris m tip
h o t-lin e (1 -8 8 8 -N Y C -S A F E ) have re p eat-
edly called to r e p o rt suspicious activity
a ro u n d th e city. In o n e case, a serial b a n k
5. ro b b e r was a p p re h e n d e d after a S hield
m e m b e r receiv ed a ‘w a n te d b u lle tin ’ in
a S hield e -m a il alert. W o rk in g to g eth er,
th e N Y P D ca n m o re th a n d o u b le its eyes
a n d ears in th e c o m m u n itie s it is sw o rn
to p ro te c t. L aw e n fo rc e m e n t across th e
co u n try , especially th e N Y P D , does this
b ecau se it has seen th a t w o rk in g to g e th e r
w ith its c o m m u n ity o n ly increases its
stren g th a n d ability, n o t o n ly to c o m b a t
c o m m o n v arie ty crim e , b u t also to p ro v id e
a substantial h e ig h te n e d aw areness level fo r
re p o rtin g w h a t is c o n sid ered u n u su al to th e
c o m m u n ity b e in g p a rtn e re d w ith . T h is is
th e essence o f p u b lic—p riv ate partn ersh ip s:
e m p o w e rin g th e p riv ate se c to r to act o n
w h a t it sees as u n u su al o r o u t o f th e o u t o f
th e ordinary. W h e th e r p a r tn e rin g directly
w ith p o lice a n d re ceiv in g tra in in g fro m
professional law e n fo rc e m e n t officers, o r
a p riv ate citizen th a t engages p ro g ram m e s
like ‘See S o m e th in g , Say S o m e th in g ’ to
in f o r m local au th o ritie s, g e ttin g th e in fo r-
m a tio n to an investigative b o d y is essential.
T h e N Y P D ’s answ er to creatin g n e w
a n d lasting p artn e rsh ip s in th e fig h t against
te rro ris m is th e N Y P D S hield p ro g ra m m e .
N Y P D S hield is a m e m b e rsh ip -b a se d
liaison p ro g ra m m e b e tw e e n th e N Y P D
a n d N e w Y ork C ity ’s p riv ate a n d p u b lic
sectors. Its m ission is to s tre n g th e n th e
N Y P D ’s p a rtn e rsh ip w ith p riv ate sec u rity
professionals a n d to serve as th e N Y P D ’s
p ro g ra m m e fo r c o m m u n ic a tio n w ith
th ese p riv ate se c to r entities o n m atters
6. o f c o u n te rte rro ris m . S hield provides m u l-
tip le p latfo rm s fo r th e p riv ate se c to r to
access in fo rm a tio n a n d resources w ith in
th e N Y P D to address e m e rg in g threats
an d ev o lv in g c o n d itio n s w ith in N e w
Y ork C ity a n d addresses p riv a te se c to r
in fo rm a tio n n eeds o n b o th a g eo g rap h ic
an d in d u stry secto r-sp ecific basis in a
n u m b e r o f specific ways. T h e se p latfo rm s
in c lu d e co n feren ces, tra in in g sem inars, th e
w ebsite, e -m a il alerts, in tellig e n ce analysis
briefs an d professional liaisons. W ith over
Successful public-private partnerships: The NYPD shield model
17,000 m e m b e rs, N Y P D S hield is b ro k e n
d o w n in to 2 2 ‘sec to rs’, allo w in g fo r m o re
d ire c te d a n d specific c o m m u n ic a tio n
a m o n g th e c o m m u n ity o f professionals
in each sector. T h e se in clu d e: business
im p ro v e m e n t districts (BIDs); c h e m ic a l/
p e tro le u m ; cultural; ed u c a tio n ; e n e rg y /
utilities; e n te rta in m e n t; fin an c e an d
b an k in g ; g o v e rn m e n ta l agencies; h e a lth
a n d hospitals; h o sp itality a n d to u rism ; law
e n fo rc e m e n t; m a ritim e ; m edia; p o sta l/
parcel; professional services; real estate an d
p ro p e rty m a n a g e m e n t; religious; retail an d
m erc h a n t; security; te le c o m m u n ic a tio n s /
IT ; tra n sp o rta tio n ; an d o th e r. T h e u ltim a te
goal o f th e S hield p ro g ra m m e is to create
ad d itio n al ‘eyes an d ears’ w ith in th e secu
rity c o m m u n ity to assist in a tte m p tin g to
th w a rt p o te n tia l te rro ris t plots a n d attacks.
7. S hield serves as a fo rce m u ltip lier, tak in g
advantage o f th e h ig h n u m b e rs o f se c u rity
p e rso n n e l em p lo y ed th r o u g h o u t th e city.
‘Public an d p rivate secto r p artn e rs can
lo o k to an ex cellen t exam ple o f h o w
expectations can b e clearly established in
a public—private p artn ersh ip : th e N e w
York Police D e p a rtm e n t’s (N Y P D ) Shield
program . T h e N Y P D Shield program
b rings to g e th e r p ublic an d p rivate secto r
entities to facilitate in fo rm a tio n sharing
fo r security purposes. F or instance, i f a
N e w Y ork C ity business o w n e r w ishes
to b e c o m e p a rt o f th e p rogram , he
o r she can apply to be a m e m b e r o f
N Y P D Shield online. N Y P D Shield is
a tw o -w a y street; th e key to success is
fo r in fo rm a tio n to flow in tw o direc-
tions. W e ask y o u r assistance in th e fight
against terro rism by re p o rtin g suspicious
b eh a v io r as soon as possible.’1
HISTORY
N Y P D S hield b eg a n in 2 005 after th e
D e p u ty C o m m issio n e r o f C o u n te rte r ro ris m
at th e tim e, M ik e S h eeh a n , b e c a m e aw are
o f th e F ed eral B u rea u o f Investigation
(F B I)’s In fraG u a rd p ro g ra m m e . In fra G u a rd
is a p a rtn e rsh ip b e tw e e n th e FBI a n d th e
p u b lic /p riv a te sector, a n d is d e sc rib e d as
an association th a t represents businesses,
academ ic in stitu tio n s, state an d local law
e n fo rc e m e n t agencies, a n d o th e r p a rtic i-
8. pants. In fraG u a rd is d e d ic a te d to sh a rin g
in fo rm a tio n an d in tellig e n ce to p re v en t
h o stile acts against th e U S A . T h e th e n
P olice C o m m is s io n e r R a y m o n d K elly an d
D e p u ty C o m m is s io n e r S h e e h a n d e c id e d
th a t th e N Y P D sh o u ld b e g in its o w n p ro -
g ra m m e .2 T h e N Y P D S h ie ld was p u rp o s e d
in 2005 w h e n it ab so rb ed th e m e m b e rsh ip
database fro m a n o th e r N Y P D p ro g ra n u n e
called th e A rea P olice—P riv ate S e c u rity
L iaison (A PPL). T h e A P P L p ro g ra m m e
co n sisted o f N Y P D executives a n d se c u rity
d irec to rs w ith in N e w Y ork C ity w h o se
goal was ‘to e n h a n c e p o lic e a n d se c u rity
c o o p e ra tio n in th e p r o te c tio n o f p e o p le
an d property, to e x c h an g e in fo rm a tio n ,
an d to h elp elim in a te th e cred ib ility gap
b e tw e e n p o lic e an d p riv a te security.’
INFORMATION-SHARING
PLATFORMS
T h e N Y P D S hield m o tto , ‘C o u n te r in g
te rr o ris m th ro u g h in fo rm a tio n s h a rin g ’,
is a c co m p lish e d by e n g a g in g w ith th e
p u b lic /p riv a te se c to r th ro u g h m u ltip le
p latform s. O n e o f these p latfo rm s is
th ro u g h th e N Y P D S h ield w ebsite (w w w .
n y p d sh ield .o rg ). T h e w eb site serves as a
ce n tral d e p o sito ry fo r m e m b e rs to share
a n d receive in fo rm a tio n . T h e w eb site p r o -
vides n u m e ro u s resources fo r its m e m b e rs
th a t in c lu d e in te llig e n c e assessments a n d
in fo rm a tio n a l b u lletin s, w e ek ly re p o rts,
th e ‘A ro u n d th e W o rld ’ videos, a reso u rce
lib rary an d v ario u s p u b licatio n s.
9. Intelligence assessments
T h e C o u n te r te r r o r is m B u re a u ’s T e rro rism
T h re a t Analysis G ro u p (T T A G ) consists o f
Page 108
highly educated civilian intelligence ana-
lysts that prepare intelligence assessment
reports based on terrorist attacks both
at home and abroad. These non-classi-
fied open source assessments are posted
on the website for security directors and
managers to read, providing them with
information that can assist in deciding
whether adjustments are required to their
organisations’ security posture based on
the type o f attack. ‘Within hours o f a
major incident abroad, Shield makes
its intelligence products available via its
website. Actionable and filling a need
for basic information, these briefs enable
the private sector to quickly take steps
to protect its assets.’3 These intelligence
assessments are widely redistributed within
security industry circles because they are
highly digestible 2—3-page documents that
always conclude by tying in whether the
incident or attack has ‘implications for
New York City’. Some examples of recent
intelligence assessments are the Paris and
San Bernardino attacks as well as the attack
on the art exhibit in Garland, TX.
‘Analytical briefings are provided on
10. a weekly basis, but they can be pro-
vided sooner on an event-specific
incident basis. The analytical briefs
are researched and prepared by intel-
ligence research specialists assigned to
the Counterterrorism Division. Those
specialists prepare and make available
to members sector-specific briefings
(cyber security, C B R N [chemical, bio-
logical, radiological and nuclear], etc),
weekly regional reports (Iran, Iraq,
Arabian Peninsula, Africa, etc), inci-
dent-specific reports (Times Square
bombing, Mumbai, etc), and they also
prepare reports on trends and analysis.’4
Informational bulletins
The NYPD Shield website also posts
informational bulletins that are prepared
by TTAG. These bulletins provide specific
information about events throughout the
city, such as parades, the New York City
Marathon, special dignitary visits such
as that by Pope Francis, major sporting
events, New Year’s Eve and the 4th o f July
celebrations to name a few. These bulletins
offer information to security directors and
managers, informing them o f event details
and providing a threat assessment that
includes possible disruptions relating to
the event that will assist them in informing
members o f their particular organisations.
Weekly reports
Weekly reports focusing on various
11. regions o f the world are posted on the
website. These reports discuss terrorism-
related attacks, tradecraft and also highlight
political and governmental issues in those
regions. The weekly cyber reports are
pertinent and informative briefings that
discuss cyber threats and breaches to
assist security directors and managers in
providing basic understandings o f these
technological attacks and shed light on
security measures and law enforcement
efforts to mitigate these threats. October
has been designated National Cyber
Awareness Month. In October 2015, the
NYPD Shield website posted a daily cyber
tip, culminating with the ‘Myth-Busting
Cyber Security Tips R eport’. These tips
are archived and still available to view.
Videos
The NYPD Shield website also hosts a
series o f posted videos titled, ‘Around the
World’. These productions are arranged
into a newscast-style format and provide
information on terrorism-related news
and information.
Reports and publications
Under the NYPD Reports and Publications
tab, members have access to various docu-
ments, including ‘Engineering Security
Successful public-private partnerships: The NYPD shield model
12. — P rotective D esign for H ig h -R is k
B u ild in g s’, w h ic h was developed by the
N Y P D to ‘aid th e N e w York C ity b u ild in g
c o m m u n ity by pro v id in g in fo rm a tio n o n
h o w to prev en t an d m itigate th e effects o f
a te rro rist attack o n a b u ild in g ’.5 M o st o f
the re co m m en d atio n s in this p u b licatio n
address traditional threats from explosive
devices, in clu d in g guidelines o n en h a n c in g
p e rim e te r security; achieving robust
b u ild in g design; designing effective access
co n tro l, screening an d m o n ito r in g systems;
and developing fire-resistance, em erg en cy
egress an d c o m m u n ic a tio n system solu-
tions. ‘T h e re co m m en d atio n s also address
e m e rg in g threats fro m chem ical, b io lo g -
ical an d radiological w eapons, in clu d in g
guidelines o n d eploying and using heating,
ventilation and air c o n d itio n in g systems and
associated d e te c tio n devices’.6
A n o th e r w id ely v iew e d a n d d istrib -
u te d d o c u m e n t is th e N e w Y ork C ity
P olice D e p a rtm e n t study, ‘A ctive S h o o te r:
R e c o m m e n d a tio n s a n d Analysis fo r R is k
M itig a tio n ’. T h e N Y P D d ev e lo p e d this
p u b lic a tio n based o n analysis o f past active
s h o o te r in cid en ts an d careful review s o f
p re v io u s studies. Last u p d a te d in 2 0 1 2 a n d
c u rre n tly u n d e rw a y fo r u p d a te th ro u g h
2 0 1 5 , this p u b lic a tio n was d ev e lo p e d to
p ro v id e re c o m m e n d a tio n s to m itig a te
th e ev e r-p re v alen t an d frig h te n in g active
s h o o te r threat.
‘T h e N Y P D p e rfo rm e d a statistical
13. analysis o n a subset o f 3 2 4 active s h o o te r
in c id e n ts fro m 1966 to 2 012 to id en tify
c o m m o n characteristics a m o n g active
s h o o te r attacks. T h is d o c u m e n t provides
re c o m m e n d a tio n s fo r b u ild in g se c u rity
p e rso n n e l to ed u c ate th e m a n d m em b ers
o f th e ir organisations to m itig ate th e
risk fro m active s h o o te r attacks.’7
Resource library
A c e n tre p ie c e o f tools at th e disposal o f
N Y P D S hield m e m b e rs is th e w e b site ’s
reso u rce library. T h is lib rary includes
in fo rm a tio n a n d e x te rn a l links to w e b -
sites th a t are b ro k e n d o w n in to m u ltip le
categ o ries, w ith exam ples th a t in c lu d e
best practices fo r physical sec u rity ; crisis
a n d risks; facility security; e m e rg e n c y
p lan n in g ; sch o o l te rro rism ; chem ical, b io -
logical, radiological an d n u c le a r (C B R N )
th re a t security, a n d m a ritim e security,
to n a m e a few. T h is se c tio n provides a
p le th o ra o f in fo rm a tio n th a t can prove
useful to b o th p riv ate se c to r se c u rity m a n -
agers a n d d irec to rs as w ell as m e m b e rs o f
th e law e n fo rc e m e n t c o m m u n ity .
Quarterly conferences
N Y P D S h ie ld hosts co n fe re n c e s
th r o u g h o u t th e year. T h e s e events prove
to b e a n effective m ean s to c o n v e y rel-
ev a n t te r r o r is m in f o r m a tio n a n d c u r r e n t
P o lic e D e p a r tm e n t in itiativ es to in v ite d
s e c u rity d ire c to rs, m an ag e rs a n d o th e r law
e n f o rc e m e n t a g e n c y p a rtn e rs. T h e c o n -
14. fe ren c es allow th e S h ie ld te a m to solidify
re la tio n sh ip s w ith se c u rity d ire c to rs an d
m an a g e rs as w e ll as to e n c o u ra g e th e m to
tak e ad v a n ta g e o f S h ie ld reso u rces. ‘T h e
b rie fin g s b e tw e e n th ese e n titie s address
in d u s try a n d g e o g ra p h ic -sp e c ific c o n -
c e rn s w h ile p ro v id in g fe e d b a c k fro m th e
s e c u rity field o n p o licies in s titu te d by
th e D e p a r tm e n t’.8 T opics p re s e n te d at
th e c o n fe re n c e s fro m P o lic e D e p a r tm e n t
s u b je c t m a tte r e x p e rts ra n g e fro m in -
d e p th assessm ents o f w e ll- k n o w n attacks,
te rr o ris t trad e cra ft, b rie fin g s o n large-scale
events affec tin g N e w Y ork C ity, N Y P D
c o u n te r te r r o r is m p ro g ra m m e s, re c o m -
m e n d a tio n s to m itig a te th e active s h o o te r
th re a t, explosive effects, c y b e r te rr o ris m
a n d assessm ents o n specific te rr o ris t o rg a n -
isations.9 In a d d itio n , th e co n fe re n c e s have
h o s te d n o ta b le speakers fro m g o v e rn -
m e n ta l o rg a n isa tio n s, in c lu d in g M ic h a e l
M o re ll, f o r m e r D e p u ty D ir e c to r o f th e
C e n tra l In te llig e n c e A g e n cy ; N ic h o la s
J. R a sm u sse n , D ire c to r o f th e N a tio n a l
Page 110
Amadeo and lannone
C o u n te r te r r o r is m C e n te r ; E d w a rd F.
D avis III, f o r m e r P o lic e C o m m is s io n e r
o f th e B o s to n P olice D e p a r tm e n t; J e h C .
J o h n s o n , S e c re ta ry o f th e D e p a r tm e n t
o f H o m e la n d S e c u rity ; J a n e t N a p o lita n o ,
15. f o r m e r S e c re ta ry o f th e D e p a r tm e n t o f
H o m e la n d S e c u rity ; a n d , m o s t recently,
Jam es C o m e y , D ir e c to r o f th e FBI.
S in ce J u ly 2 0 0 5 , 3 6 S h ie ld c o n fere n ces
have b e e n h e ld , w ith a to ta l o f 12,951
a tte n d e e s .10
E-mail alerts
W h e n S h ie ld approves a n e w m e m b e r,
th a t in d iv id u a l is g iv en th e o p tio n to
receive e -m a il alerts. T h e s e alerts p ro v id e
m e m b e rsh ip w ith re a l-tim e in fo rm a tio n
re g a rd in g te rr o ris m events th ro u g h o u t th e
w o rld . T h e alerts fall in to a n u m b e r o f ca t-
eg o ries, in c lu d in g m a jo r in cid en ts; p o lice
activity; traffic a n d transit; b a n k robberies;
b u ild in g evacuations; b u ild in g em e rg e n c y
drills; w e e k e n d events; lo catio n s o f p ro test
th r o u g h o u t th e city; b re a k in g new s and
te rr o ris m a n d / o r active s h o o te r in cid en ts
b o th n atio n ally a n d globally.
Training
C o n s id e re d th e b re a d a n d b u tte r o f th e
S h ie ld p ro g r a m m e w ith n ea rly 8 5 ,0 0 0
m e m b e rs a n d n o n - m e m b e r s tra in e d , th e
S h ie ld p ro g r a m m e c u r r ic u lu m offers
12 tra in in g o p p o r tu n itie s fo r p e rs o n n e l
w ith in th e c o rp o ra te , p riv a te se c u rity
a n d m a n a g e m e n t sectors. T h is enables
face to -fa c e in te ra c tio n w ith th e p u b lic /
p riv a te sector, c re a tin g th e m o st im p a c t
in th e in fo rm a tio n -s h a rin g relationship.
T h is tra in in g is p ro v id e d to m e m b e rs
at n o co st a n d ca n b e ta ilo re d specifi-
cally tow ards tn e ir o rg a n is a tio n s needs.
16. T ra in in g is c o n d u c te d at th e ir respective
facility, w h ile all S h ie ld in s tru c to rs are
c e rtifie d b y N e w Y ork S tate. A n y se c u rity
d ir e c to r /m a n a g e r m e m b e rs ca n re q u est
tra in in g th r o u g h th e w e b site b y calling
th e office o r via e-m a il.
Seven o f these courses are c o n d u c te d
b y S hield p e rso n n e l, w h ile five o th ers
are c o n d u c te d b y th e C o u n te rte r ro ris m
D iv isio n ’s T ra in in g S ectio n . A lth o u g h
tra in in g is given u p o n req u est, th e re are
o fte n in c id e n ts o r attacks th a t cause S hield
to engage th e affected sec to r proactively.
F o r instance, after th e re c e n t attacks in
Paris, S hield c o n d u c te d tra in in g specifically
d ire c te d to w ard ‘soft targ ets’ in th e e n te r
ta in m e n t sector, su ch as restaurants, bars
a n d n ig h tclu b s. T h e S hield p ro g ra m m e
is a free in fo rm a tio n -s h a rin g a n d train in g
p ro g ra m m e w h e re N Y P D officers visit
businesses to tra in staff. A fte r th e m u rd ers
o f an o n - a ir television re p o rte r an d h e r
ca m e ram a n by a fo r m e r colleague, N Y P D
S hield h e ld an active s h o o te r tra in in g
sem in ar at P olice H e a d q u a rte rs specifically
fo r m e m b e rs o f th e m edia. ‘P olice offi
cials said th e sy m p o siu m was n o t so m u c h
a b o u t h o w to p re v e n t mass sh o otings b u t
h o w to b e ready “i f ” . W e w a n t to give y o u
so m e ideas a b o u t h o w y o u ca n survive an
in c id e n t like th is’.11
NYPD SHIELD COURSES
Recommendations for active shooter
17. incidents
T h is is th e m o st re q u e ste d c o u rse o ffered by
Shield, an d it explores re c o m m e n d a tio n s
to m itig ate th e risks fro m active s h o o te r
attacks. T h is tra in in g is g eared to w ard
b u ild in g se c u rity p erso n n el; how ever,
it also provides g u id an ce to individuals,
in c lu d in g m anagers an d em ployees, so th ey
can p re p are to re sp o n d to an active s h o o te r
situ atio n . It is also th e o n ly co u rse th a t is
offered to all em ployees o f an o rg a n isa tio n
a n d n o t lim ite d to se c u rity p e rso n n el. T h e
N Y P D d ev e lo p e d this p ro g ra m m e based
o n analysis o f past active s h o o te r in cid en ts
a n d careful review s o f prev io u s studies
by p ro v id in g statistics, histo rical exam ples,
a n d th e th re e re c o m m e n d a tio n s o n h o w
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Successful public-private partnerships: The NYPD shield model
to act w h e n faced w ith an active sh o o ter:
avoid, b a rric a d e o r c o n fro n t (literally, the
‘A B C ’s o f an active s h o o te r event). It also
in fo rm s a b o u t w h a t to e x p e c t w h e n law
e n fo rc e m e n t responds to th e scene. A t th e
c o n c lu sio n o f th e course, stu d en ts have
th e o p p o rtu n ity to b r in g to g e th e r w h a t
has b e e n ta u g h t by w a tc h in g a tra in in g aid
v id eo th a t provides a visual o f th e in s tru c -
tio n al p o in ts ta u g h t d u rin g th e class.
Terrorism awareness for the security
18. professional
T h is co u rse is in te n d e d to p ro v id e secu-
rity p e rso n n e l w ith th e tools to deter,
d e te c t a n d id en tify p o te n tia l te rro rist
activity. O v e r e ith e r tw o o r fo u r h o u rs,
th e in s tru c to r an d class discuss h o w to
recognise an d identify te rro rist-re la te d
physical a n d b eh a v io u ral in d icato rs, co llect
an d process in fo rm a tio n , m ake a p p ro p ria te
n o tificatio n s an d , w h e n necessary, take
a c tio n d u rin g a te rro ris t attack. Topics
th a t are co v ered in th e c o u rse in clu d e
an in tro d u c tio n to te rro rism , im p ro v ised
explosive devices, in d ic a to rs o f suicide
attacks a n d v e h ic le -b o rn e im provised
explosive devices.
It is o n e th in g to desc rib e to a stu d e n t
a b o u t w h a t explosive devices are an d
a n o th e r to actually sh o w th e m . To this
en d , in stru c to rs display in e r t explosive
th a t allows th e stu d e n t to visually inspect
an d feel these c o m p o n e n ts. E xam ples
in c lu d e types o f p ip e b o m b s, blasting caps,
igniters, sw itches and differen t ch em ical
c o m p o n e n ts u sed to c o n s tru c t explosive
devices.
Detecting hostile surveillance
D u r in g th e p re-stages o f an attack, terro rists
o fte n c o n d u c t p re -o p e ra tio n a l surveil-
lan ce o n a target. ‘T h e a l-Q a e d a m an u al
“ M ilita ry Studies in th e Jih a d against th e
T yrants” an d its o n lin e tra in in g m agazines
n o t o n ly in s tru c t operatives p la n n in g an
attac k to c o n d u c t surveillance, th e y also
19. p o in t o u t th e ty p e o f in fo rm a tio n th a t
sh o u ld b e g a th e re d .’ 12 D e te c tin g H o stile
S urveillance is a f o u r - h o u r ex a m in a tio n
o n h o w p u b lic /p riv a te se c u rity p e rso n n e l
can d e te c t hostile surveillance th a t m ay
b e c o n d u c te d o n th e ir facility, em ployees
o r business area. It provides se c u rity p e r-
so n n el w ith th e tools to k n o w w h a t to
lo o k fo r w h e n th e y are b e in g w a tc h ed .
The Vehicle-Borne Improvised
Explosive Device security checkpoint
operations course
T h is fo u r -h o u r, tw o -p h a se c o u rse is
d esig n ed to p ro v id e h a n d s -o n in s tru c -
tio n re g ard in g v e h ic le -b o rn e explosive
re c o g n itio n to m e m b e rs o f th e profes-
sional se c u rity co m m u n ity . T h e co u rse
is in te n d e d to in s tru c t se c u rity p e rso n n e l
w ith p a rk in g facilities a n d / o r d e liv e ry /
lo a d in g d o c k areas in th e ir organisa-
tio n . D u r in g th e first phase o f classroom
in stru c tio n , th e stu d e n t is p ro v id e d w ith
te c h n iq u e s a n d m e th o d s re g ard in g th e
use o f p ro p e r v eh icle in sp e c tio n d u rin g
se c u rity c h e c k p o in ts at h ig h -p ro file events
a n d critical in fra stru c tu re lo catio n s. T h e
sec o n d phase o f in stru c tio n focuses p r i-
m arily o n th e h a n d s - o n aspects o f v ehicle
searches. S tu d e n ts w ill le a rn a b o u t th e
v ario u s m e th o d s o f explosive c o n c e a lm e n t
in differen t types o f v ehicle an d d e m o n -
strates th e use o f p ro p e r te c h n iq u e s for
in te rv ie w in g b o th o p e ra to rs a n d passen-
gers o f suspicious vehicles.
20. Suspicious mail and package
T h is c o u rse is in te n d e d to p ro v id e
m e m b e rs o f th e se c u rity c o m m u n ity an d
m a ilro o m p e rso n n e l w ith th e skill set
re q u ire d to d e te c t an d id en tify suspicious
m ail a n d packages. T h e c o u rse w ill discuss
h o w to h a n d le m ail an d packages securely;
recognise a n d id e n tify suspicious item s;
take a p p ro p ria te actions u p o n disco v erin g
a suspicious article; a n d b est practices for
m a ilro o m security.
Page 112
Federal Emergency Management
Association courses
IR TB /PR SB I are sponsored by the
Department o f Homeland Security AND
FEMA; FEMA is a subsidiary o f DHS. The
final two courses provided to members by
N YPD Shield are awareness courses that
are sponsored by the Federal Emergency
Management Association (FEMA). The first
is Incident Response to Terrorist Bombings
(IRTB), which is designed to help responders
including security personnel recognise and
report a potential incident involving explo-
sives and take appropriate action in response
to the event. The second Is Prevention and
Response to Suicide Bombing Incidents,
the goal o f which is to provide students with
sufficient knowledge o f suicide bombings so
they can assist in the prevention, deterrence,
21. mitigation and response effort to this threat.
PUBLIC-PRIVATE PARTNERSHIP
PROGRAMME EXPANSION: THE
NATIONAL SHIELD NETWORK
The Shield programme is currendy devel-
oping a plan for a coordinated collaboration
with other large city police departments such
as Boston, Baltimore, Mobile, Memphis,
Nashville and Minneapolis. The goal o f the
collaboration is to duplicate the successes of
the N Y PD ’s relationship with the public/
private sectors and ultimately create a network
o f public/private partners throughout law
enforcement jurisdictions nationwide. The
Shield programme is offering other depart-
ments the NYPD Shield template, which
includes its training curriculum, so that
they may develop a comparable programme.
In turn, these newly established Shield
programmes will offer assistance to their
neighbouring law enforcement jurisdictions
and to the communities they serve.
Expansion o f the Shield programme on a
national level is proving to be an extraordi-
nary example o f interagency collaboration
between law enforcement and the public/
private security industry. ‘The programme
is also deserving o f duplication by other
law enforcement agencies and private sector
security professionals to prevent an act of
terrorism elsewhere in America.’ 13
Expanding the Shield programme to a
22. national level, and in the process creating
a National Shield Network (NSN) offers
multiple benefits for the NYPD. Ultimately,
the N S N will provide additional layers o f
security for N ew York City by possibly
disrupting potential terrorist plots through
open communication with various police
departments, before those threats reach the
city’s borders. It will also allow the NYPD
to obtain accurate and timely informa-
tion, in any state, from a network o f Shield
partners across law enforcement, but most
importantly from corporate America.
W h en an event occurs in any N SN
city that is possibly terrorism-related (eg
a school shooting, explosion, terrorist
attack), the Shield programme in the inci-
dent city will contact the other N SN
members w ith an alert e-mail, text or other
secure means in timely fashion. It is a given
that during any major terrorist incident,
law enforcement is focused on eliminating
the present threat to protect lives. W ith
that understanding, the goal is to conduct
a conference call detailing a basic recap
o f the incident. D uring this briefing, the
following five questions will be answered:
• Is the incident terrorism related?
• Have any suspects been identified or
arrested?
• Do any suspects have any ties or associa
tions to other cities?
23. • Are there any security concerns for the
incident city or other N S N cities?
Another added benefit for the NYPD would
be that an N SN would increase Shield
membership among both civilians and law
enforcement. Future goals include holding
an annual conference that specifically brings
Successful public-private partnerships: The NYPD shield model
together law enforcement and the public/
private security industry, where members
can obtain information on training events,
meet vendors, research guest speakers for
local events, create new partnerships and col-
laborate with other police departments, etc.
There are also benefits for police depart-
ments to adopt and support an NSN.
Modelling a national network after the
Shield programme will assist police depart-
ments in bridging the communications gap
between their department and the public/
private communities, which in turn will
provide law enforcement with access to the
private sector’s personal knowledge o f their
businesses, buildings, neighbourhoods, spe-
cific fields o f expertise, etc. It will also enable
police departments to offer assistance to local
communities and their national Shield part-
ners by providing counterterrorism training
to their local business community.
24. Implementation o f a Shield programme
will allow law enforcement to gain access
to the wealth o f knowledge possessed
by corporate representatives across the
country, and in some cases the world, as
the US business community is interna-
tional in nature and scope.
‘The N Y PD recognized that the private
sector has unique qualifications to assist
the department in their pre-event
planning and surveillance; in turn indi-
viduals in the private sector can be
informed, participating members o f the
system that serves to protect their city.
This partnership could serve as a model
for a federal program.’14
Many law enforcement agencies agree that
implementing a programme similar to the
Shield programme would be a productive
and successful way to engage with the public/
private sector. However, many o f these agen-
cies feel that committing limited resources
and manpower would pose as a significant
challenge to their organisation. To put this
into perspective, the NYPD is comprised of
over 35,000 police officers and is responsible
for policing a city with a population o f 8.5
million people. The Shield programme’s
team consists o f twelve NYPD members
responsible for the day-to-day operation o f
this in-demand programme. Needless to say,
it does not take a lot o f resources and/or per-
25. sonnel to implement an information-sharing
programme with have such a high rate o f
return on a minimal investment. In early
2015, members from the Shield programme
travelled to Maryland to present to various
law enforcement agencies in the area about
the possibilities of implementing a local pro-
gramme. In the audience was an intelligence
analyst from the Ann Arundel County Police
Department who saw how the benefits o f a
programme could impact the public/private
sector in his communities. Within a short
period o f time, this sole analyst rolled out
the Ann Arundel County Guardian Shield
programme that consisted o f a bi-weekly
newsletter with an e-mail distribution of
1,000 public/private sector members. The
newsletter not only addressed traditional
terrorism but included cyber terrorism and
criminal activity, illegal drug information,
and provided security tips and information.
One analyst, with a distribution o f 1,000,
is making an impact by informing and pre-
paring a more educated public/private sector.
Guardian Shield is also in the process o f
incorporating the N YPD active shooter
recommendations curriculum into its pro-
gramme and recently launched a website
dedicated to communicating w ith the
public/private sector. Law enforcement
agencies that do not yet offer an equiva-
lent programme to Shield should consider
growing their capacity to work w ith public/
private partners and start a programme.
26. ‘The NYPD Shield program is extremely
interested in helping your local law
enforcement partners get started and
offer a tremendous amount o f support
Page 114
and guidance. The Shield program has
been instrumental in assisting two juris-
dictions in the State o f Maryland get
started in the last several months and has
helped Orange County, CA, Seattle, WA
and Boston, MA start similar programs.’15
N YPD SHIELD has assisted in the
implementation o f SHIELD programs in
Baltimore County, Baltimore City and Anne
Arundel County (MD), Boston Regional
Intelligence Center (BRIC, MA), Hanover
C ounty (VA), Suffolk C ounty Police
D epartm ent (NY). NYPD Shield is also in
the process o f having discussions with other
law enforcement agencies to implement
similar programmes. Discussions to imple-
m ent Shield programmes in Mobile, Kansas
City, Nashville, Baltimore City, Prince
George County, MD, are already underway.
W ith the assistance o f the Shield pro-
gramme, the Seattle Police D epartm ent
launched its Seattle Shield programme in
2009, and defines its mission as an infor-
mation reporting and sharing partnership
between law enforcement and private and
27. public-entity security managers in the
dow ntow n Seattle area. Suspicious activity
can be reported and then disseminated to
members through Seattle Shield. Similar to
the N Y PD Shield website, Seattle Shield
uses a secure website to send out alerts to
partners in the programme and holds bi-
m onthly networking meetings (see h ttp ://
www.seattleshield.org).
In 2011, the Orange C ounty Intelligence
Assessment C en:er (OCIAC) in California
instituted its Orange C ounty Shield pro-
gramme. O C IA C ’s Shield represents the
C enter’s public/private sector outreach
programme that brings together private
sector security personnel w ith both the
intelligence com munity and Orange
C ounty first responders. O C IA C ’s Shield
membership has grown to over 1,000
members. T he programme consists o f a
myriad o f functions that include:
‘a safe and trusted information sharing
platform providing efficient manage-
m ent o f suspicious activity reports, tips
and leads and provides opportunities
for training, table top and field exer-
cises bringing private sector, law, health
and fire into a unified stand promoting
threat mitigation, target hardening and
disaster recovery’.16
CONCLUSION
In 2009, the US Department o f Justice, in
conjunction w ith the Office o f Community
28. O riented Policing Services (better known
as the ‘C O PS’ Office) sponsored the docu
ment, ‘Operation Partnership: Trends and
Practices in Law Enforcement and Private
Security Collaboration’. The purpose o f
this report is to assist both law enforcement
agencies and private security organisations in
collaborating to form effective partnerships.
‘The report discusses key trends, dif
ferent forms o f partnerships, types o f
activities and programs, and the key
components that make these relation-
ships successful. It highlights the five tips
for enhancing existing law enforcement
— private security partnerships. These
tips include improving the communi-
cation process, improving the content
o f the communication, improving the
training content, facilitate personal con-
tacts among the membership, and finally
to find out what other law enforcement/
private security partnerships are doing.’17
The Shield programme strives to enhance
its effectiveness based on these points.
The programme continually looks for
ways to improve its communications with
members and the intelligence and event-
driven content, authored by TTAG, offered
through the website. Communication is an
integral component in any information-
sharing programme. In addition to the use
http://www.seattleshield.org
29. Successful public-private partnerships: The NYPD shield model
o f e-mails, there are encrypted websites as
well as password-protected portals that are
utilised as centralised com m unication points.
However, there is no substitute for good old-
fashioned face-to-face interaction. Many
corporations and industries — beyond those
that are part o f the critical infrastructure
— have been identified as targets o f ter-
rorist attacks. Inform ation-sharing between
public and private entities simply has not
evolved as recom m ended and expected. It is
incum bent upon law enforcement leaders to
develop a process and training to remedy that
problem .18 Law enforcement as a whole needs
to do a better jo b at engaging the public/
private sectors on their playing field. ‘As in
any w orthw hile pursuit, effective com m u-
nication is critical in the cost-effective and
efficient interactions betw een the various
parties.’19 A ttending different m onthly secu-
rity association meetings goes a long way
in improving these relationships. It shows
the private sector that you are serious about
engaging them and that there is m ore to the
relationship than the occasional e-mail blast.
In N ew York City, the Shield programme
n o t only invites security directors and m an-
agers to its conferences at police headquarters,
m em bers o f the team attend the meetings o f
organisations such as the Building O w ners
and Managers Association, the R eal Estate
Board o f N e w York, the H otel Association
30. o f N ew York City, the First Precinct
Financial Area Security Council, and the
M useum , Library and Cultural Property
Protection C om m ittee. Attendance at these
meetings provides a good opportunity to
engage private sector partners, furnish them
w ith inform ation that can assist their secu-
rity personnel, and demonstrates that law
enforcem ent can ‘speak their language’. It
also shows an elevated level o f profession-
alism in that law enforcem ent can grasp and
understand the everyday challenges faced by
the security industry.
Participating in these meetings and
attending annual association conferences
and seminars such as ASIS International and
the FBI N ational Academy also allows the
Shield program m e to touch on O peration
Partnership’s point o f form ing personal rela
tionships. O bserving five em ergency drills
and sitting in on various table-top exercises
also solidifies these personal relationships
betw een the N Y P D Shield and p u b lic /
private security. ‘A critical mission o f the
N Y P D Shield is to help area businesses
assess and revise their security procedures.’20
Finally, to to u ch on O peration Partner-
ship’s point on im proving training content,
the Shield program m e is continually
am ending its training curriculum to reflect
the m ost recent terrorist tradecraft as well
as tactics, techniques and procedures by
studying attacks globally to determ ine the
31. implications for N e w York City. Shield
personnel w ill continue to attend various
training seminars and lectures themselves
to improve their terrorism know ledge base
and professional developm ent. In 2017 and
onward, the Shield program m e is com -
m itted to continue to building on its past
successes and looks forward to pursuing
fresh and innovative ways to share inform a-
tion and to proactively reach out and engage
the public/private sector in the nam e o f
detecting, d eterring and preventing the
next terro r attack.
As described by the father o f p u b lic -
private partnerships (P3), the late D eputy
Inspector M atthew J. Simeone, Nassau
C o u n ty Police, ‘P3 netw orks allow law
enforcem ent agencies to leverage the vast
resources o f the private security industry as
well as com m unity base’s civic organisations
to enhance public safety’ (Simeone, 2006).
T h e Shield program m e has embarked on a
mission to take that idea to the next level
and develop a massive, collaborative, nation-
w ide netw ork o f inform ation-sharing that
n o t only bolsters the w ork o f police depart-
m ents but adds significant value to the local
and state com m unities for each law enforce-
m ent agency. T h e Shield program m e is n o t
Page 116
only th e p re m ie r p ro g ram m e to w atch o u t
32. for, b u t th e best p ro g ram m e to em ulate.
R efer en ces
(1) Busch, N. and Givens, A. (2005),
‘Achieving resilience in disaster
management: the role o f public-private
partnerships’, Journal of Strategic Security, p. 9.
(2) Sheehan, M . (2008), ‘Crush the Cell:
H o w to Defeat Terrorism w ithout
Terrorizing Ourselves’, Crown, N ew
York, NY, pp. 233-234.
(3) Sitneone, M. J. J r (2006), ‘T he power
o f public—private partnerships: P3
networks in policing’, Police Chief
Magazine, Vol. 73, No. 5, available at:
h ttp ://www.policechiefrnagazine.org/
magazine/index.cfm?fuseaction=display_
arch&article_id=902&issue_id=52006
(accessed 20th February, 2016).
(4) Scollan, T. J. (2011), ‘An assessment o f
the N ew York State Enhanced Security
Guard Training legislation and its
efficacy on security officer preparedness’,
Naval Postgraduate School, Monterey,
CA, available at: h ttp ://calh o u n .n p s.
e d u /h a n d le /10945/10688 (accessed 26th
February, 2016).
(5) N Y PD Shield (n.d.), ‘N Y PD Shield:
Security Public-Private Partnership’,
available at: http://w w w .nypdshield.org/
public/ (accessed 14th December, 2015).
33. (6) Falkenrath, R . (ed.) (2009),
‘Engineering security: protective design
for high risk buildings’, available at:
h ttp ://w w w .n y c .g o v /h tm l/n y p d /h tm l/
counterterrorism/engineeringsecurity.
shtml (accessed 15th March, 2016).
(7) N Y P D Shield, ref. 5, above.
(8) Harrington, M. (2014), ‘N ew York C ity’s
first responders: enhancing collaboration’,
The Naval Postgraduate School
thesis, available at: https://w w w .hsdl.
org/?view& did=762416-in-the-event-of-
an-attack/ (accessed 10th Marcki, 2016).
(9) N Y P D Shield, ref. 5 above.
(10) Ibid.
(11) Sanders, A. (2015), ‘N Y PD holds
training on “active shooters” after
Virginia TV killings’, available at:
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37. “I agree,” replied Tim, “and I’m glad you brought it up, because
I have a suggestion on how to improve
that situation.” He leaned forward in his chair as he realized he
had captured the interest of the others.
“The problem is, we have too many expenses on our income
statement that are eating up the profits.
Now, I’ve done some checking, and the expenses all seem to be
legitimate except for interest expense.
Look here, we paid over $250,000 last year to the bank just to
finance our short-term borrowing. If we
could have kept that money instead, our profit margin ratio
would have been 4.01 percent, which is
higher than any other firm in the industry.”
“But, Tim, we have to borrow like that,” responded Roy (“Pop”)
Thomas, age 35, the vice president for
production. “After all, our sales are seasonal, with almost all
occurring between March and September.
Since we don’t have much money coming in from October to
February, we have to borrow to keep the
production line going.”
“Right,” Tim replied, “and it’s the production line that’s the
problem. We produce the same number of
products every month, no matter what we expect sales to be.
This causes inventory to build up when
sales are slow and to deplete when sales pick up. That
fluctuating inventory causes all sorts of problems,
including the excessive amount of borrowing we have to do to
finance the inventory accumulation.”
(See Tables 1 through 5 for details of Gale Force’s current
operations based on equal monthly
production.)
42. do for one month, then a deluge the next. It’s terrible for the
employees, not to mention the supervisors
who are trying to run an efficient operation. Your idea may
make the income statements look good for
now, but the whole company will suffer in the long run.”
Chuck intervened. “OK, you guys, calm down. Tim may have a
good idea or he may not, but at least it’s
worth looking into. I propose that you all work up two sets of
figures, one assuming level production and
one matching production with sales. We’ll look at them both
and see if Tim’s idea really does produce
better results. If it does, we’ll check it further against other
issues Pop is concerned about and then
make a decision on which alternative is better for the firm.”
Table 3 (continued)
April May June July August September
Sales Forecast
Sales (units) ................................. 500 1,000 1,000 1,000 500
250
Sales (unit price: $3,000) ............. $1,500,000 $3,000,000
$3,000,000 $3,000,000 $1,500,000 $ 750,000
Cash Receipts Schedule
50% cash ...................................... $ 750,000 $1,500,000
$1,500,000 $1,500,000 $ 750,000 $ 375,000
50% from prior month’s sales ...... $ 450,000 $ 750,000
$1,500,000 $1,500,000 $1,500,000 $ 750,000
Total cash receipts ................. $1,200,000 $2,250,000
$3,000,000 $3,000,000 $2,250,000 $ 1,125,000
Cash Payments Schedule
Production in units ...................... 400 400 400 400 400 400
47. 3. Assume that there is an added expense for each sales dollar
of .5 percent (.005). Based on this fact
and the information computed in question 2, is seasonal
production justified?
A. Compute the total sales using table 3 ( original or
recomputed table can be sued)
B. Apply the added expense and identify what the expense
amount will do (increase/decrease
and by how much).
C. Compare the rate of the added expense burden to the interest
savings computed in
question 2 of table5.
D. Write a one paragraph summary of your findings. Include if
you feel the seasonal production
plan is justified or not and why you are making the formal
recommendation to implement
the change or not.
Sales Forecast, Cash Receipts and Payments, and Cash
BudgetSales ForecastCash Receipts ScheduleCash Payments
ScheduleCash Budget; Required Minimum Balance is
$125,000Table 3(continued)Sales ForecastCash Receipts
ScheduleCash Payments ScheduleCash Budget; Required
Minimum Balance is $125,000Table 5
6
Working Capital and the Financing Decision
LEARNING OBJECTIVES
LO 6-1
Working capital management involves financing and controlling
48. the current assets of the firm.
LO 6-2
Management must distinguish between current assets that are
easily converted to cash and those that are more permanent.
LO 6-3
The financing of an asset should be tied to how long the asset is
likely to be on the balance sheet.
LO 6-4
Long-term financing is usually more expensive than short-term
financing based on the theory of the term structure of interest
rates.
LO 6-5
Risk, as well as profitability, determines the financing plan for
current assets.
LO 6-6
Expected value analysis may sometimes be employed in
working capital management.
The rapid growth of business firms in the last two decades has
challenged the ingenuity of financial managers to provide
adequate financing. Rapidly expanding sales may cause intense
pressure for inventory and receivables buildup—draining the
cash resources of the firm. As indicated in Chapter 4, “Financial
Forecasting,” a large sales increase creates an expansion of
current assets, especially accounts receivable and inventory.
Some of the increased current assets can be financed through
the firm’s retained earnings, but in most cases internal funds
will not provide enough financing and some external sources of
funds must be found. In fact, the faster the growth in sales, the
more likely it is that an increasing percentage of financing will
be external to the firm. These funds could come from the sale of
common stock, preferred stock, long-term bonds, short-term
securities, and bank loans, or from a combination of short- and
long-term sources of funds.
There is also the problem of seasonal sales that affects many
industries such as soft drinks, toys, retail sales, and textbook
publishing. Seasonal demand for products makes forecasting
49. cash flows and receivables and inventory management difficult.
The Internet and cloud computing are beginning to alleviate
some of these problems and help management make better
plans.
Page 159
If you have had a marketing course, you have heard about
supply chain management. Well, financial executives are also
interested in the supply chain as an area where the Internet can
help control working capital through online software.
McDonald’s Corporation of Big Mac fame formed eMac Digital
to explore opportunities in business-to-business (B2B) online
ventures. One of the first things on the agenda was to have
eMac Digital help McDonald’s reduce costs. McDonald’s
wanted to create an online marketplace where restaurants can
buy supplies online from food companies. McDonald’s, like
Walmart, Harley-Davidson, and Ericsson, has embraced supply
chain management using web-based procedures. The goal is to
squeeze out inefficiencies in the supply chain and thereby lower
costs. One of the big benefits is a reduction in inventory
through online communications between the buyer and supplier,
which speeds up the ordering and delivery process and reduces
the amount of inventory needed on hand. These systems may
also be able to attract a large number of suppliers to bid on the
company’s business at more competitive prices.
Retailers like Walmart require suppliers to ship their goods with
radio frequency identification chips (RFID) embedded in their
shipments. These chips eliminate processing delays, reduce
theft, and result in better inventory management. From the
financial manager’s viewpoint, anything that can reduce
inventory levels without creating out-of-stock situations will
reduce the amount of money needed to finance inventory. You
can read more about Walmart and RFID chips in the nearby
Finance in Action box.
Working capital management involves the financing and
management of the current assets of the firm. The financial
executive probably devotes more time to working capital
50. management than to any other activity. Current assets, by their
very nature, are changing daily, if not hourly, and managerial
decisions must be made. “How much inventory is to be carried,
and how do we get the funds to pay for it?” Unlike long-term
decisions, there can be no deferral of action. While long-term
decisions involving plant and equipment or market strategy may
well determine the eventual success of the firm, short-term
decisions on working capital determine whether the firm gets to
the long term.
In this chapter, we examine the nature of asset growth, the
process of matching sales and production, financial aspects of
working capital management, and the factors that go into
development of an optimum policy.
The Nature of Asset Growth
Any company that produces and sells a product, whether the
product is consumer or manufacturer oriented, will have current
assets and fixed assets. If a firm grows, those assets are likely
to increase over time. The key to current asset planning is the
ability of management to forecast sales accurately and then to
match the production schedules with the sales forecast.
Whenever actual sales are different from forecast sales,
unexpected buildups or reductions in inventory will occur that
will eventually affect receivables and cash flow.
In the simplest case, all of the firm’s current assets will be self-
liquidating assets (sold at the end of a specified time period).
Assume that at the start of the summer you buy 100 tires to be
disposed of by September. It is your intention that all tires will
be sold, receivables collected, and bills paid over this time
period. In this case, your working capital (current asset) needs
are truly short term.
Now let us begin to expand the business. In stage two, you add
radios, seat covers, and batteries to your operation. Some of
your inventory will again be completely liquidated, while other
items will form the basic stock for your operation. To stay in
business, you must maintain floor displays and multiple items
for selection. Furthermore, not all items will sell. As you
51. eventually grow to more than one store, this “permanent”
aggregate stock of current assets will continue to increase.
Problems of inadequate financing arrangements are often the
result of the businessperson’s failure to realize the firm is
carrying not only self-liquidating inventory, but also the
anomaly of “permanent” current assets.
Page 160
Finance in ACTION Technology A Great Inventory Tracking
System May Be Helping You
RFID (radio frequency identification technology), a system that
has been around since World War II and was used by the
military to keep track of airplanes, continues to gain traction in
inventory/supply chain management. RFID chips have been used
in trains, ships, and trucks to track shipment containers. They
are also used in automatic toll systems that allow drivers to pass
through tolling areas without stopping. The state of Michigan
has used these chips to track livestock; marathon officials have
used them to track a runner’s time; and the Defense Department
has used them to track the shelf life of their food rations.
Additionally, they are now being used to make sure that
shipping containers entering U.S. ports have not been tampered
with after inspection.
Hewlett-Packard, in a business briefing paper, indicates that
there may be as much as $45 billion of excess inventory in the
retail supply chain that is unaccounted for at any given time. In
short, RFID chips can help a company track goods and make
sure that the right goods get to the right places on time. More
sophisticated chips can be reused and can even record a sale.
For example, if an expensive piece of jewelry is sold with a
chip attached, when the chip is decommissioned, the sale
automatically shows up in the store’s computer system.
In 2005, Walmart mandated that by the end of 2007, its 300
largest suppliers must have RFID chips in each pallet of goods
shipped to its distribution centers. Procter & Gamble was one of
the first companies to comply and found the system beneficial
in managing its own inventory, reducing out-of-stock inventory
52. levels, and preventing inventory theft or theft of goods in
transit. For manufacturers of expensive products such as
pharmaceuticals, theft reduction can be a significant cost
saving. P&G noted that when comparing bar codes to RFID
chips, it took 20 seconds to manually tally bar-code data on a
pallet versus five seconds to read RFID technology. P&G states
that it earned a return on its RFID investment in the millions of
dollars.
According to the RFID Journal’s January 7, 2013, issue, 19 of
the top 30 U.S. retailers are involved at some level with RFID
chips, but full utilization of these chips has a long way to go
before they are used throughout their stores for all products.
Many specialty retailers are beginning to use RFID technology;
American Apparel has adopted RFID technology at all 280 of its
stores.
A rather unique use of these chips is for high-value poker chips
at casinos. In 2010, a robber came into the Bellagio in Las
Vegas and left with $1.5 million in poker chips. Little did he
know that the chips had embedded RFID chips, and as soon as
he walked out of the casino, the chips became worthless and
unable to be used anywhere.
The movement from stage one to stage two of growth for a
typical business is depicted in Figure 6-1. In panel A, the
buildup in current assets is temporary—while in panel B, part of
the growth in current assets is temporary and part is permanent.
(Fixed assets are included in the illustrations, but they are not
directly related to the present discussion.)
Controlling Assets—Matching Sales and Production
In most firms, fixed assets grow slowly as productive capacity
is increased and old equipment is replaced, but current assets
fluctuate in the short run, depending on the level of production
versus the level of sales. When the firm produces more than it
sells, inventory rises. When sales rise faster than production,
inventory declines and receivables rise.
Page 161
Figure 6-1 The nature of asset growth
53. A. Stage I: Limited or no growth
B. Stage II: Growth
As discussed in the treatment of the cash budgeting process
in Chapter 4, some firms employ level production methods to
smooth production schedules and use manpower and equipment
efficiently at a lower cost. One consequence of level production
is that current assets go up and down when sales and production
are not equal. Other firms may try to match sales and
production as closely as possible in the short run. This allows
current assets to increase or decrease with the level of sales and
eliminates the large seasonal bulges or sharp reductions in
current assets that occur under level production.
Seasonal industries can be found in manufacturing, retailing,
electricity, and natural gas. Demand is uneven in these
industries, and many exhibit a seasonal demand. For example,
electricity producers have more demand in the summer for air
conditioning while natural gas companies have more demand in
the winter for heating. One small manufacturing company that
exhibits this type of seasonal demand is Briggs and Stratton
Corporation from Wauwatosa, Wisconsin.
Page 162
Briggs and Stratton is the largest maker of 3.5 to 25 horsepower
air-cooled gasoline engines. Chances are if you’ve ever mowed
a lawn, your lawnmower had a Briggs and Stratton engine. Their
motors can be found in pressure washers, compressors and
pumps, garden tillers, generators, small tractors, lawnmowers,
and outboard marine engines, and about 30 percent of the
company’s overall sales are in the international market.
Briggs and Stratton’s fiscal year ends in June, and Figure 6-
2 demonstrates both the seasonality of sales and the leverage
impact on earnings per share that we discussed in Chapter 5.
Because Briggs sells most of its products to other manufacturers
who use the engines as part of their finished products, a large
percentage of sales must occur early in the year in order to
54. produce the garden equipment that would be in demand in
spring and summer. We can see from Figure 6-2 that sales are
lowest in the July to September quarter, followed by the
September–December quarter. Peak sales are in the third
quarter, beginning in January and ending in March. There are
carryover sales in the April to June quarter, which is the second
best period for Briggs and Stratton.
Figure 6-2 Quarterly sales and earnings per share for Briggs
and Stratton
Page 163
Notice that the first quarter of the year always generates
negative earnings per share as the costs of production outweigh
the revenue produced. This is most likely caused by the costs of
building inventory. Earnings in the second and fourth quarter
are small, with most of the earnings coming in the peak sales
period of the third quarter. For example in 2013, Briggs and
Stratton earned $0.90 billion for the year with $0.89 billion
coming in the third quarter; in 2014 the firm earned $0.82
billion with $0.81 billion coming in the third quarter. The
seasonal nature of the company’s sales can be exacerbated by
inventory buildup at the end user and a fall in orders for the
next season. The company has made acquisitions in recent years
to diversify its product line and to smooth out sales and
earnings. The future will tell if these acquisitions succeed.
Retail firms such as Target and Macy’s also have seasonal sales
patterns. Figure 6-3 on the next page shows the quarterly sales
and earnings per share of these two companies, with the
quarters ending in April, July, October, and January. These
retail companies do not stock a year or more of inventory at one
time. They are selling products that are either manufactured for
them by others or manufactured by their subsidiaries. Most
retail stores are not involved in deciding on level versus
seasonal production but rather in matching sales and inventory.
Their suppliers must make the decision to produce on either a
55. level or a seasonal basis. Since the selling seasons are very
much affected by the weather and holiday periods, the suppliers
and retailers cannot avoid inventory risk. The fourth quarter for
retailers, which begins in November and ends in January, is
their biggest quarter and accounts for as much as half of their
earnings. You can be sure that inventory not sold during the
Christmas season will be put on sale during January.
Both Target and Macy’s show seasonal peaks and troughs in
sales that will also be reflected in their cash balances, accounts
receivable, and inventory. Notice in Figure 6-3 that Target is
growing slightly faster than Macy’s, which has a rather flat
trendline. Even so, Macy’s peak earnings per share are higher
than Target’s earnings per share when the fourth quarter sales
peak out. Both companies illustrate the impact of leverage on
earnings as discussed in Chapter 5, but we can tell that Macy’s
has higher leverage because its EPS rises and falls with sales
more than Target’s EPS (bottom of Figure 6-3). We shall see as
we go through the chapter that seasonal sales can cause asset
management problems. A financial manager must be aware of
these problems to avoid getting caught short of cash or
unprepared to borrow when necessary.
Many retail-oriented firms have been more successful in
matching sales and orders in recent years because of new,
computerized inventory control systems linked to online point-
of-sales terminals. These point-of-sales terminals allow either
digital input or use of optical scanners to record the inventory
code numbers and the amount of each item sold. At the end of
the day, managers can examine sales and inventory levels item
by item and, if need be, adjust orders or production schedules.
The predictability of the market will influence the speed with
which the manager reacts to this information, while the length
and complexity of the production process will dictate how fast
production levels can be changed.
Page 164
Figure 6-3 Quarterly sales and earnings per share, Target and
Macy’s
56. Temporary Assets under Level Production—An Example
Page 165
To get a better understanding of how current assets fluctuate, let
us use the example of the Yawakuzi Motorcycle Company,
which manufactures and sells in the snowy U.S. Midwest. Not
too many people will be buying motorcycles during October
through March, but sales will pick up in early spring and
summer and will again trail off during the fall. Because of the
fixed assets and the skilled labor involved in the production
process, Yawakuzi decides that level production is the least
expensive and the most efficient production method. The
marketing department provides a 12-month sales forecast for
October through September (Table 6-1).
Table 6-1 Yawakuzi sales forecast (in units)
Total sales of 9,600 units at $3,000 each = $28,800,000 in sales.
After reviewing the sales forecast, Yawakuzi decides to produce
800 motorcycles per month, or one year’s production of 9,600
divided by 12. A look at Table 6-2 shows how level production
and seasonal sales combine to create fluctuating inventory.
Assume that October’s beginning inventory is one month’s
production of 800 units. The ending inventory level is computed
for each month and then multiplied by the production cost per
unit of $2,000.
Table 6-2 Yawakuzi’s production schedule and inventory
The inventory level at cost fluctuates from a high of $9 million
in March, the last consecutive month in which production is
greater than sales, to a low of $1 million in August, the last
month in which sales are greater than production. Table 6-
3 combines a sales forecast, a cash receipts schedule, a cash
payments schedule, and a brief cash budget to examine the
buildup in accounts receivable and cash.
In Table 6-3, the sales forecast is based on assumptions in Table
57. 6-1. The unit volume of sales is multiplied by a sales price of
$3,000 to get sales dollars in millions. Next, cash
receipts represent 50 percent collected in cash during the month
of sale and 50 percent from the prior month’s sales. For
example, in October this would represent $0.45 million from the
current month plus $0.75 million from the prior month’s sales.
Page 166
Table 6-3 Sales forecast, cash receipts and payments, and cash
budget
*Assumes a cash balance of $0.25 million at the beginning of
October and that this is the desired minimum cash balance.
Cash payments in Table 6-3 are based on an assumption of level
production of 800 units per month at a cost of $2,000 per unit,
or $1.6 million, plus payments for overhead, dividends, interest,
and taxes.
Page 167
Finally, the cash budget in Table 6-3 represents a comparison of
the cash receipts and cash payments schedules to determine cash
flow. We further assume the firm desires a minimum cash
balance of $0.25 million. Thus in October, a negative cash flow
of $1.1 million brings the cumulative cash balance to a negative
$0.85 million and $1.1 million must be borrowed to provide an
ending cash balance of $0.25 million. Similar negative cash
flows in subsequent months necessitate expanding the bank
loan. For example, in November there is a negative cash flow of
$1.325 million. This brings the cumulative cash balance to
−$1.075 million, requiring additional borrowings of $1.325
million to ensure a minimum cash balance of $0.25 million. The
cumulative loan through November (October and November
borrowings) now adds up to $2.425 million. Our cumulative
bank loan is highest in the month of March.
We now wish to ascertain our total current asset buildup as a
result of level production and fluctuating sales for October
through September. The analysis is presented in Table 6-4. The
cash figures come directly from the last line of Table 6-3. The
58. accounts receivable balance is based on the assumption that
accounts receivable represent 50 percent of sales in a given
month, as the other 50 percent is paid for in cash. Thus the
accounts receivable figure in Table 6-4 represents 50 percent of
the sales figure from the second numerical line in Table 6-3.
Finally, the inventory figure in Table 6-4 is taken directly from
the last column of Table 6-2, which presented the production
schedule and inventory data.
Table 6-4 Total current assets, first year ($ millions)
Total current assets (last column in Table 6-4) start at $3.3
million in October and rise to $10.35 million in the peak month
of April. From April through August, sales are larger than
production, and inventory falls to its low of $1 million in
August, but accounts receivable peak at $3 million in the
highest sales months of May, June, and July. The cash budget
in Table 6-3 explains the cash flows and external funds
borrowed to finance asset accumulation. From October to
March, Yawakuzi borrows more and more money to finance the
inventory buildup, but from April forward it eliminates all
borrowing as inventory is liquidated and cash balances rise to
complete the cycle. In October, the cycle starts over again; but
now the firm has accumulated cash it can use to finance next
year’s asset accumulation, pay a larger dividend, replace old
equipment, or—if growth in sales is anticipated—invest in new
equipment to increase productive capacity. Table 6-5 presents
the cash budget and total current assets for the second year.
Under a simplified no-growth assumption, the monthly cash
flow is the same as that of the first year, but beginning cash in
October is much higher than the first year’s beginning cash
balance, and this lowers the borrowing requirement and
increases the ending cash balance and total current assets at
year-end. Higher current assets are present despite the fact that
accounts receivable and inventory do not change.
Page 168
Table 6-5 Cash budget and assets for second year with no
59. growth in sales ($ millions)
Figure 6-4 on the next page is a graphic presentation of the
current asset cycle. It includes the two years covered in Tables
6-4 and 6-5 assuming level production and no sales growth.
Patterns of Financing
The financial manager’s selection of external sources of funds
to finance assets may be one of the firm’s most important
decisions. The axiom that all current assets should be financed
by current liabilities (accounts payable, bank loans, commercial
paper, etc.) is subject to challenge when one sees the permanent
buildup that can occur in current assets. In the Yawakuzi
example, the buildup in inventory was substantial at $9 million.
The example had a logical conclusion in that the motorcycles
were sold, cash was generated, and current assets became very
liquid. What if a much smaller level of sales had occurred?
Yawakuzi would be sitting on a large inventory that needed to
be financed and would be generating no cash. Theoretically, the
firm could be declared technically insolvent (bankrupt) if short-
term sources of funds were used but were unable to be renewed
when they came due. How would the interest and principal be
paid without cash flow from inventory liquidation? The most
appropriate financing pattern would be one in which asset
buildup and length of financing terms are perfectly matched, as
indicated in Figure 6-5.
Page 169
Figure 6-4 The nature of asset growth (Yawakuzi)
In the upper part of Figure 6-5 we see that the temporary
buildup in current assets (represented by teal) is financed by
short-term funds. More importantly, however, permanent
current assets and fixed assets (both represented by blue) are
financed with long-term funds from the sale of stock, the
issuance of bonds, or retention of earnings.
Figure 6-5 Matching long-term and short-term needs
60. Page 170
Alternative Plans
Only a financial manager with unusual insight and timing could
construct a financial plan for working capital that adhered
perfectly to the design in Figure 6-5. The difficulty rests in
determining precisely what part of current assets is temporary
and what part is permanent. Even if dollar amounts could be
ascertained, the exact timing of asset liquidation is a difficult
matter. To compound the problem, we are never quite sure how
much short-term or long-term financing is available at a given
time. While the precise synchronization of temporary current
assets and short-term financing depicted in Figure 6-5 may be
the most desirable and logical plan, other alternatives must be
considered.
Long-Term Financing
To protect against the danger of not being able to provide
adequate short-term financing in tight money periods, the
financial manager may rely on long-term funds to cover some
short-term needs. As indicated in Figure 6-6, long-term capital
is now being used to finance fixed assets, permanent current
assets, and part of temporary current assets.
Figure 6-6 Using long-term financing for part of short-term
needs
By using long-term capital to cover part of short-term needs, the
firm virtually assures itself of having adequate capital at all
times. The firm may prefer to borrow a million dollars for 10
years—rather than attempt to borrow a million dollars at the
beginning of each year for 10 years and pay it back at the end of
each year.
Short-Term Financing (Opposite Approach)
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This is not to say that all financial managers utilize long-term
financing on a large scale. To acquire long-term funds, the firm
must generally go to the capital markets with a bond or stock
offering or must privately place longer-term obligations with
61. insurance companies, wealthy individuals, and so forth. Many
small businesses do not have access to such long-term capital
and are forced to rely heavily on short-term bank and trade
credit.
Furthermore, short-term financing offers some advantages over
more extended financial arrangements. As a general rule, the
interest rate on short-term funds is lower than that on long-term
funds. We might surmise then that a firm could develop a
working capital financing plan in which short-term funds are
used to finance not only temporary current assets, but also part
of the permanent working capital needs of the firm. As depicted
in Figure 6-7, bank and trade credit as well as other sources of
short-term financing are now supporting part of the permanent
capital asset needs of the firm.
Figure 6-7 Using short-term financing for part of long-term
needs
The Financing Decision
Some corporations are more flexible than others because they
are not locked into a few available sources of funds.
Corporations would like many financing alternatives in order to
minimize their cost of funds at any point. Unfortunately, not
many firms are in this enviable position through the duration of
a business cycle. During an economic boom period, a shortage
of low-cost alternatives exists, and firms often minimize their
financing costs by raising funds in advance of forecast asset
needs.
Not only does the financial manager encounter a timing
problem, but he or she also needs to select the right type of
financing. Even for companies having many alternative sources
of funds, there may be only one or two decisions that will look
good in retrospect. At the time the financing decision is made,
the financial manager is never sure it is the right one. Should
the financing be long term or short term, debt or equity, and so
on?
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62. Figure 6-8 is a decision-tree diagram that shows many of the
financing choices available to a chief financial officer. A
decision is made at each point until a final financing method is
chosen. In most cases, a corporation will use a combination of
these financing methods. At all times the financial manager will
balance short-term versus long-term considerations against the
composition of the firm’s assets and the firm’s willingness to
accept risk. The ratio of long-term financing to short-term
financing at any point in time will be greatly influenced by
the term structure of interest rates.
Figure 6-8 Decision tree of the financing decision
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Term Structure of Interest Rates
The term structure of interest rates is often referred to as a yield
curve. It shows the relative level of short-term and long-term
interest rates at a point in time. Knowledge of changing interest
rates and interest rate theory is extremely valuable to corporate
executives making decisions about how to time and structure
their borrowing between short- and long-term debt. Generally,
U.S. government securities are used to construct yield curves
because they are free of default risk and the large number of
maturities creates a fairly continuous curve. Yields on corporate
debt securities will move in the same direction as government
securities, but will have higher interest rates because of their
greater financial risk. Yield curves for both corporations and
government securities change daily to reflect current
competitive conditions in the money and capital markets,
expected inflation, and changes in economic conditions.
Three basic theories describe the shape of the yield curve. The
first theory is called the liquidity premium theory and states
that long-term rates should be higher than short-term rates. This
premium of long-term rates over short-term rates exists because
short-term securities have greater liquidity and, therefore,
higher rates have to be offered to potential long-term bond
buyers to entice them to hold these less liquid and more price-
63. sensitive securities. The market segmentation theory (the
second theory) states that Treasury securities are divided into
market segments by the various financial institutions investing
in the market. Commercial banks prefer short-term securities of
one year or less to match their short-term lending strategies.
Savings and loans and other mortgage-oriented financial
institutions prefer the intermediate length securities of between
5 and 7 years, while pension funds and life insurance companies
prefer long-term 20- to 30-year securities to offset the long-
term nature of their commitments to policyholders. The
changing needs, desires, and strategies of these investors tend
to strongly influence the nature and relationship of short-term
and long-term interest rates.
The third theory describing the term structure of interest rates is
called the expectations hypothesis. This theory explains the
yields on long-term securities as a function of short-term rates.
The expectations theory says long-term rates reflect the average
of short-term expected rates over the time period that the long-
term security is outstanding. Using a four-year example and
simple averages, we demonstrate this theory in Table 6-6. In the
left-hand panel of the table, we show the anticipated one-year
rate on T-bill (Treasury bill) securities at the beginning of each
of four years in the future. Treasury bills are short-term
securities issued by the government. In the right-hand panel, we
show the two-, three- and four-year averages of the one-year
anticipated rates.
Table 6-6 The expectations theory
1-year T-bill at beginning of year 1 = 4%
1-year T-bill at beginning of year 2 = 5%
2-year security (4% + 5%)/2 = 4.5%
1-year T-bill at beginning of year 3 = 6%
3-year security (4% + 5% + 6%)/3 = 5.0%
1-year T-bill at beginning of year 4 = 7%
4-year security (4% + 5% + 6% + 7%)/4 = 5.5%
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64. For example, the two-year security rate is the average of the
expected yields of two one-year T-bills, while the rate on the
four-year security is the average of all four one-year rates.1 In
this example, the progressively higher rates for two-, three-, and
four-year securities represent a reflection of higher anticipated
one-year rates in the future. The expectations hypothesis is
especially useful in explaining the shape and movement of the
yield curve. The result of the expectations hypothesis is that,
when long-term rates are much higher than short-term rates, the
market is saying it expects short-term rates to rise. When long-
term rates are lower than short-term rates, the market is
expecting short-term rates to fall. This theory is useful to
financial managers in helping them set expectations for the cost
of financing over time and, especially, in making choices about
when to use short-term debt or long-term debt.
In fact, all three theories of the term structure just discussed
have some impact on interest rates. At times, the liquidity
premium or segmentation theory dominates the shape of the
curve, and at other times, the expectations theory is the most
important.
Figure 6-9 shows a Treasury yield curve that is published by the
St. Louis Federal Reserve Bank in National Economic Trends, a
weekly online publication that can be directly accessed
on www.stlouisfed.org. The bottom axis shows time periods
(months and years) and the vertical axis indicates rates. In this
figure, there are three curves: December 2013, December 2014,
and the curve for the week ending January 2, 2015. We can see
that long-term yields have dropped between year-end 2013 and
2014 and that the latest yield curve at the beginning of 2015
was the same as year-end 2014. Using the January 2015 curve
(the dotted red line), we can see that yields rise from close to
zero percent for three-month Treasury bills, to 1.7 percent for
five-year Treasury notes, and continue up to 2.2 percent for 10-
year Treasury bonds. This upward-sloping yield curve has the
normal shape. The increase in rates from the three-month to the
10-year yield is 0.5 percent or 50 basis points. (A basis point
65. represents 1/100th of one percent.)
Figure 6-9 Treasury yield curve
*The treasury yield curve for December 2014 is almost identical
to that for the week ending 1/2/2015.
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The Federal Reserve has kept all interest rates low, with short-
term rates extremely low. This action by the Fed is intended to
help the economy recover from the most serious recession since
the Great Depression. By keeping the cost of borrowing low, the
Fed hopes to stimulate the economy. As the economy recovers,
the yield curve will shift up and become less steep.
An upward-sloping yield curve is considered normal, but the
difference between short-term and long-term rates has often
been quite wide, such as in October 1993 when short-term rates
were less than 3 percent and long-term rates were close to 7
percent. Generally, the more upward-sloping the yield curve,
the greater the expectation that interest rates will rise. When
faced with a downward-sloping, or inverted, yield curve, the
expectation would be the opposite. A good example of this
occurred in September 1981 when short-term rates were over 17
percent and long-term rates were close to 15 percent. A little
over one year later, in December 1982, short-term rates were 8
percent and long-term rates were about 10.5 percent. This
example also illustrates that interest rates can move
dramatically in a relatively short time (in this case, 15 months).
In designing working capital policy, the astute financial
manager is interested in not only the term structure of interest
rates but also the relative volatility and the historical level of
short-term and long-term rates. Figure 6-10 covers a 25-year
period and demonstrates that short-term rates (red) are more
volatile than long-term rates (blue). This volatility is what
makes a short-term financing strategy risky. Figure 6-10 also
shows that interest rates follow the general trend of inflation as
measured by the consumer price index (black). Note that prices
declined during the recession of 2007–2009, which is what is