Corporate Trust Jobs
Friday, September 3rd, 2010
Finance Jobs - Common Myths about Corporate Finance
There are several myths about corporate finance. These myths have to be wiped off from peoples minds. Otherwise they will continue to trust an illusion, believing that to be reality.
If you have love towards finance jobs, you can have a very successful career in this field. This field offers you plenty of job types such as accounting, finance management, real estate, banking and some other types. Finance jobs are quite stable and finance careers in general are rewarding. There are plenty of finance jobs in the market. Several organizations are constantly in search for finance professionals.
But if you take an interest in this field, you must get rid of some of the myths related to this career. Some facts are here for you which will help you in dispelling some myths from your head.
The facts:
• Many banks recruit a lot of people in the finance department. This is the most important department in a bank. So banks recruit maximum people for finance department. The figures are much higher than companies. Bank jobs are interesting contrary to the myth that it is boring. You need to meet several people and interact with them too. The corporate banks pay well indeed.
• The primary function of those in corporate finance jobs is to manage the financial issues a company. They also have to raise funds and engage themselves in planning several projects. Those who are engaged in corporate finance jobs have to have good analytic powers. They have to face many finance related problems and they have to solve these problems efficiently. Those multinational companies that employ financial accountants pay them with fat salaries. These jobs are quite stable and always in demand.
• Many people with a background in finance work in the real estate sector also. They have to perform several tasks such as construction, leasing, brokerage, property appraisals and similar types of jobs. These jobs are quite challenging but if you can face these challenges, you will be able to overcome them and you will definitely find the job very interesting.
• The job of a finance manager in corporate sector is very flourishing. They have to take financial decisions for a company. They also have to plan out development projects and guide the company's business strategies.
• You can also work as a corporate controller. Your job profile will require you to prepare reports of your company in order to present the financial status of your company. You have to tend to income statements, balance sheets, analyze earnings and expenses. Sometimes corporate controllers have to make special reports fro some regulatory agencies.
• After completing your MBA degree in finance you can take up the job of an accounting manager. You need a lot of experience in order to become a successful accounting manager.
• It is good to start your accounting careers with your accounting internships. They will be regarded as your entry level accounting jobs.
About the Author
To learn more about finding finance jobs, please visit http://www.accountingcrossing.com/jobs/q-corporate-jobs.html and sign up for a FREE trial to gain access to ALL of the many exclusive job listings we offer in the accounting profession. Silas Reed, Writer for accountingCrossing, writes articles that inform and teach about different accounting job profiles and tips.
was the oil spill an epic fail for the republican party?
i mean more republicans are in big oil, i think the average person sees that and having an ecosystem destroyed on a huge level is not a reason to vote republican.
lost food, lost jobs over oil greed might make the southern coast go democrat, or even liberal, he he.
trust me another bush policy that took a while to come to light yet here we are, many fishermen loose a ton of jobs to corporate greed.
Yes. Off-Shore Oil Drilling is dangerous and deadly for the ocean. It is a bad idea. We should be going more green like Brazil instead of putting our beautiful and precious beaches and oceans at risk of catastrophic pollution - as we are seeing happen in the Gulf of Mexico today. Off-shore oil drilling is a very bad idea, and it is just not worth it.
Corporate Trust Jobs
Deadline for Action: Labor Unions & Corporate Influence on the US Congress (3/3) (1946)
The Role of Trust and Factors that Contribute to Trust within an E-commerce Environment
Abstract
This study is about trust roles and the factors influence its development. The data showed trust was a significant preexisting for the formation and growth of both electronic and traditional trading relationships in different type of e-commerce environment. This result is supported by different theories about trust. This concept investigate in two main section business to business and business to customer to clarify importance of trust in business relationship and some implication that can be used for accomplishing trust in businesses.
Introduction
Trust does not settle in integrated circuits or fiber optic cables. Even though it implies an exchange of information, trust is not reducible to data. A "virtual" firm can have huge data coming via network wires about its contractors, suppliers and customers. But, if they are all criminals or cheaters, dealing with them will stay a costly procedure involving complicated contracts and time-consuming performance. In this condition that e-commerce is growing up with exponential rate.
Trust shows own itself affect in different type of e-commerce; B2B, B2C, C2B and C2C.
Business-to-business electronic commerce covers a broad range of applications that an enterprise or business enable to form electronic relationships with their distributors, resellers, suppliers, and other partners. Number of advantage about information exchange is various in different level of supply chain. These benefits include improved ordering and inventory allocation. Lack of trading partner trust has been identified as a main element contributing to the slow-moving adoption rate of business-to-business e-commerce in the growing research that reports on interorganisational trust between firms conducting business online. In a recent study of supply chain information sharing ,is identified confidentiality as one of the major obstacle that prevent firms in the supply chain from sharing information, and stress the significant of establishing trust to pursue information sharing within the supply chain.
In business to customer and vice versa, Trust also is a significant aspect of Web-surfers' decision to download software from the Web or make trade performance (on line shipping) through the web site.
However this study focuses on the role of trust in different type of e-commerce transactions.
The goal of the study are to prepare some guidance for those currently involved in, considering future adoption and participation in electronic commerce, how important of trust is in e-commerce concept and which factors participate in to creating trusty e-commerce environment.
The remainder of the paper is organized in Tow main sections. The first section reviews the concepts of trust in business to business e-commerce regarding five theories. Second section is about business to customer with factors contributed to building trust. Finally, in conclusion the results of this study are presented.
BUSINESS TO BUSINESS E-COMMEREC
In these days in competitive environments, organizations must try to create cooperative relationships with other organisations. These cooperative relationships are regarded as interorganisational relationships (IORs) or interfirm partnerships. Recently, technology through the introduction of interorganisational systems (IOS) begins to support the growth and maintenance of IOR. Collaboration through IOS can cover a variety of activities, such as supply-chain management, outsourcing, strategic planning logistics, and demand forecasting. Factors such as technology, leadership, and culture have been shown to influence the process of interorganisational relationships (Westley & Vredenburg, 1997). The definition of IOS is provided by researcher use for this study: Automated information systems shared by more than one company and allowing information flow across organizational boundaries.
While some researcher, have determined primarily information technology as a means for decreasing inter-organizational transaction costs, the findings by Kumar et al. (1998) suggest the importance of trust and technology in diminishing transaction costs in interorganizational systems (IOSs). Many major manufacturers and retailers have very much worry about the the growth of electronic partnerships with their wholesalers. Furthermore, Fukuyama (1995) suggests that trust is based on shared norms and values within organizations and communities. So, it is significant that we understand the relative roles of technology and trust in involvement in e-commerce.
There looks to be a feeling by businesses that e-commerce transactions may be both insecure and unreliable. In spite of the assurances of technological security methods, trading partners in business-to-business e-commerce do not seem to trust the people side of the transactions. Lack of trust and consequently is obstacle to participation in e-commerce activities and increase due to uncertainties inherent in the current e-commerce environment. Parkhe (1998) categorized two kinds of uncertainties: uncertainty regarding unfamiliar future events and uncertainty regarding trading partners' reactions to future events. It is in this situation of dual uncertainty that trust becomes significant for business-to-business e-commerce participation. Also, a lack of universally accepted business standards and policies to guide global business-to-business e-commerce has left business partners, especially smaller suppliers, with a lack of knowledge, awareness, and expertise in using e-commerce technologies to their fullest potential. This guides to uncertainties in their tasks, environment and trading partners.
Finally, interdependencies among organizations stand up from sharing e-commerce technologies. Previous research in EDI adoption implies that these interdependencies can guide to an imbalance of power between smaller suppliers and their more powerful buyers (Hart and Saunders 1997; Webster 1995). How this power is exercised may affect the creation or decline of trust between trading parties. Trust, so, plays an important role in e-commerce participation.
THEORETICAL FOUNDATIONS OF THE TRUST
There are five conceptual theories about trust in different view, involving, management, marketing, sociology, information systems and e-commerce. Theories about trust in business relationships, inter-organizational relationships theory (IOR), and transaction cost economics theory (TCE), resource dependency theory, and trust and security based mechanisms in e-commerce. These theories shows the factors contribute in understanding of weakness and strengths of trading partner relationships in e-commerce participation. They are not just talking words also emphasize on practical aspect in relationship.
Theories of Trust in Business Relationships
Trust in business relationships is identified as a main factor for successful long term trading partner relationships. For example, trust is found to increase cooperation, therefore leading to communication openness and information sharing. The volume of density and cohesiveness of social networks in relationships influence the trust evolution. Below table is simplified of ways for tree types of trading partner trust.
Competence trust point up the trust in trading partners' technical knowledge, skills and ability to operate business-to-business e-commerce applications correctly. Trading partners who show skills in producing high quality goods and services such as timely delivery of exact information to other trading partners, that help maintain their supply chains and construct strategic decisions achieve high levels of competence trust. Researchers suggest that we choose who to trust and under what condition. This choice is base on interpersonal trust, therefore investigating past measures of trust such as reliability and dependability. When reliability and dependability expectations are met, trust moves to affective bases that include emotional bonds such as attention and concern. Hence, competence trust develops in an economic foundation and perceived benefits such as savings in cost and time from exact transfer of e-commerce communications are achieved. Otherwise, a lack of competence trust may lead to extra costs, as trading partners need to spend time training and educating themselves, in addition to resending the same transaction rightly again.
Predictability trust emphasize on behavior of trade partners that prepare knowledge and judgment of each other base on previous experiences. So provide reliability and trustworthy for sharing information, flexibility in some behavior like arising price and expand their trust.
Goodwill trust emphasize on some deep emotional humanity between partners like honestly, benevolence and foundation of empathy that lead to more investment, communication, and transaction and building reputation.
Inter-Organizational Relationships Theory
When two or more organizations exchange resources such as information, money, physical facilities and materials, customer or client referrals, technical staff services, inter-organizational relationships (IOR) arise from inter-organizational systems (IOS) .So needs structure and mechanism with management policy , procedures , standard and trading partner agreements found to be useful for trading partners involved in routine business-to-business operations. This system helps to avoid of risk and opportunistic behavior in E-commerce then Benefit of that is high level trading partner trust. Thus, learning how trading partner relationships can be transformed into long-term relationships will create extra understanding to increase e-commerce participation.
Transaction Cost Economics Theory
This theory focuses on economic efficiency of transaction with understanding of economic exchange. It helps us to analyze risk and benefit in e-commerce. Economies cost needs optimum governance mechanism for minimizing cost. For example cost include opportunistic behavior, uncertainty, asset Specificity, uniqueness, and complexity of exchange and behavioral. While technology come into business relationship and form e-commerce so transaction cost and risk reduce. On other hand trust have important role to achieve to this reduction like monitoring compliance reduction, coordination costs reduction, reduce opportunism, transaction risk, and therefore reduce transaction costs. Thus, transaction cost economics obviously points to the role of trust in facilitating business-to-business transactions.
Resource Dependency Theory
This theory indentifies general perception of economy and socio-cultural dimensions of trade partner relationship. This approach is about external environment forces of e-commerce, exchanges day to day in transaction between partners and internal policies, structure of participant firms.
Granovetter mentions that these structural arrangements may be inlaid within socio-political characteristics of the couple, therefore using power and control as well as corresponding feelings and behavior (conflict and cooperation). Actually, resource dependency theory leads to perceived risks of e-commerce, gained from participant, imbalance of power in their corporation.
Trust and Security Based Mechanisms
Security and trust are protective concept. They create technological, organizational, and relationship benefits by ensuring timely, exact and complete receipt of transactions communication, thereby attaining integrity of transaction, authentication, non-repudiation, confidentiality, and availability (Jamieson 1996). These mechanisms involve digital signatures, authorization mechanisms (via User IDs and passwords), encryption mechanisms (via public key infrastructure), and successful business practices through standards, regular audit, top management commitment, and contingency procedures (Bhimani 1996; Jamieson 1996; Marcella et al. 1998; Parker 1995). Perceived benefits like efficiency, security, and quality can be achieved by well managing these mechanisms. Otherwise, with poor business performance, such as incomplete, incompatible, or insecure systems, together with a lack of training given to staff operating e-commerce applications and insufficient backup perceived risks of e-commerce might arise.
This section argued the relevance of five theoretical views that contributed to theories in the conceptual model. They contain trust in business connections, inter-organizational connections that help identify situational, constructional, formalization and procedural factors leading to perceived benefits, uncertainties/risks, and organization system in e-commerce. Also, transaction cost economics theory determined perceived benefits in the framework of economic benefits and perceived risks in the form of opportunistic conducts, task complications, and uncertainties. Resource dependency theory subscribes to perceived risks of e-commerce. Ultimately, trust and security based mechanisms focus on given best business practices. Therefore, perceived benefits and perceived risks gained from the above theories aid to determine the extent of e-commerce involvement in the form of e-commerce performance and trade partner trust relationship development.
Substantial result of trust on business relationships
It reduces the need for detail resolution, extensive negotiations, comprehensive legislation and enforced regulation and tight organizational control .Trust encourages long-term orientation, increases the acceptance of interdependence and creates commitment .Trust also reduces perceived risk, can reduce transaction costs when warranted and is to some extent important in almost any contractual agreement because of possible opportunistic behavior of the other party.
In short, trust determines the nature of the social and business order as well as the quality of business relationships. The observation that people need to trust in order to partake in an activity with another person and would rather refrain from any activity with others whom they do not trust further supports these observations.
BUSINESS TO CUSTOMER E-COMMERCE
E-commerce accomplishment, especially in the business-to-consumer area, is investigate in part by whether consumers trust sellers and products they cannot observe or touch, and electronic techniques with which they have no earlier experience. Studies on trust in different domains have focused on trust that normally exists in a gradual manner through ongoing interactions. Through these evolving interactions, people acquire beliefs about the honesty, ability, and intentions of the trusted party, which, in turn, affect their trust in that party. This type of trust-building instruction, therefore, requires extensive involving two-way interactions to create trust, a prerequisite typically missing from interactions on the Web. As a result, this section examines whether another type of trust antecedent of one not based on extensive previous two-way inter- actions is relevant to the unique Web environment.
Affect of Familiarity on trust
One such antecedent suggested in Luhmann's theory of Trust and Power, is familiarity.
Familiarity, regarding this theory, is a preexisting of trust because it produces an understanding and framework of the e-commerce environment and the trusted party within which the expectations of trust can be clarified. Familiarity is a perception, often based on earlier interactions, experiences, and learning of what, why, where and when others do what they do. As such, familiarity and trust are distinctly different. Familiarity deals with an understanding of the current actions of other people or of objects, while trust deals with opinions about the future actions of other people.
Familiarity and trust are complementary with each others. Familiarity by establishing structure reduces complexity and trust by letting people hold relatively reliable expectations about other people's favorable future actions reduce uncertainty.
Necessity of promoting trust through familiar World Wide Web interface
Researchers identified, a major factors influencing the successful growth of E-commerce, is people's familiarity and trust in Internet suppliers means in companies that sell their goods through the World Wide Web interface. In the other words, there is a importance of promoting trust and reliability on the Internet. In fact, the main reason people do not purchase online is their concern about reliability of companies, online payments security, and the lack of a privacy policy. So customers try to use e-commerce as new way for purchasing through well known web sites like Amazon, E-bay and so on.
Factors That Influence Building Trust
Usability
Creating an ecommerce site with a specific target of customer is critical issue. Graphic designer and programmers have to be aware of the impact of all component that building up one website on customers. So is most important to focuses on two aspect of site means graphic design and visibility and browser capability for accomplishing a desired task for customer. Behind usability specialist search engine and development process don not ignore making simple site and informative to build trust with don't confuse our customer.
Security
Today's there is development software like private SSl certificate and so on for creating high safe transaction and secure that our customers share personal information and use their credit card number with peace of mind .
Uniqueness
Not many ecommerce shops operate in markets where there is no rivalry. To stand out, it is necessary that you differentiate yourself from the rest–this is regularly called your UVP or unique value proposition. It's what will cause a customer choose you over your rivalry while all other causes are constant or closely related. Generally, firms use their competitors as a starting line when building their own site. Make sure that while you plan your site it is not so closely related to your rivalry that it takes away from your uniqueness. The inclusion of key differentiators and less tangible benefits like culture ,your brand identity and values all factor into the overall client experience and are what will help you achieve the competitive advantage.
Social Media and Visibility
These days with high people attraction by social media such as Twitter, Facebook we cannot ignore role of these medias as new channel can help to company for identifying itself. So through this relationship with them we can create trustworthy for our customers.
Also for becoming visible presence in blogs, get listed in search, sponsor events, send out press releases, run contests, etc… These are all ways to attain positive exposure for our business and create trust at the same time.
Respect our Customer
Knowing who our customers are and respect their needs is important key.
Any B2B firms worth its flavor will have one or more of the following principles on its site: reviews, industry certifications, awards, press coverage, customer testimonials, case studies, product demos, free trials and white papers.The key is to infer the benefits of each in place trust, and deciding relevance to our company, industry and target.In business-to-consumer (B2C) Web sites such as e-retailers, there are totally different assumptions and requirements. Some of the more significant site elements contain: strong brand/identity, security certifications and guarantees, shipping, return and privacy policies, customer testimonials and product reviews, merchandising, promotions and product comparisons. Rather than get diverted by the bells and whistles, it's critical to certify the site roles reliably and visitors are able to look for what they are looking for without the need to big deep for it.
Anticipate Every Question and Answer customer inquires quickly
This is done via first realization your customer and then placing the correct elements in the right places on the site to address their worries at exactly the right time they normally would ask.
If a client asks a question, answer within 24 hours. Nothing can damage your business more than not replying to a customer inquiry on time. It sends a message that they are not significant enough to authorization a quick response and often guides to lost sales.
Trust is built on a substructure with a mass of powerful elements. The fewer of the above component included in your Web site, the larger the probability the visitor will go somewhere else, like a competitor's site. By following the above suggestions, you are all but assuring an increase in trust and online trades. Predicting their questions and replying accordingly helps create trust. Any feeling of confidentiality or costliness, anything that causes a customer's visit to a site tough, can destroy trust.
Keeping touch and confirm
Keeping touch is important factor after sell to our customer. Because during this time customer needs confirmation they made right choice so continuing relationship about four weeks after purchase is important. Approve orders placed with emails to the customer shortly following a successful sale. Verify the shipment of the item when it is dispatched and include tracking data for them as well. Don't forget to follow up with an email sometime after delivery expressing thanks them again and asking them if they are satisfied with the commodity or have any questions about it. This kind of pro-active entrance builds a relationship that has trust as its base. Even after buying, customers want to feel they made the right choice. It's our job to warrant them they have.
Trust and E-loyalty
To gain loyalty of customer you first have to gain their trust. Especially in e-commerce trade environment that customer can not touch product and make face to face trading with seller they should rely on images and just promises. So if they cannot gain this trust or loss it they will buy elsewhere. When customers do trust they share their private information so they respect security for protecting from misuses. So with enhancing trust we gain high loyalty. One of the reliable and trustworthy web sites is Amazon.com. Mullions of customer feel comfortable to let Amazon store their addresses, name, and credit card numbers in its ordering system. The result in this situation is customer can make repeat purchases with just one click. It's one of the most important reason customers keep coming back and become loyal.
Conclusion
Since today's e-commerce become inseparable component in people life so the subject like trust play important roles in using this methods for trading in different type of ecommerce, B2B, B2C and vice versa by customer and trader with peace of mind. This study argued the relevance of five theoretical views that contributed to theories in the conceptual model in B2B e-commerce. They contain trust in business connections, inter-organizational connections that help identify situational, constructional, formalization and procedural factors leading to perceived benefits, uncertainties/risks, and organization system in e-commerce. Also, transaction cost economics theory determined perceived benefits in the framework of economic benefits and perceived risks in the form of opportunistic conducts, task complications, and uncertainties. Resource dependency theory subscribes to perceived risks of e-commerce. Ultimately, trust and security based mechanisms focus on given best business practices. Therefore, perceived benefits and perceived risks gained from the above theories aid to determine the extent of e-commerce involvement in the form of e-commerce performance and trade partner trust relationship development.
In B2B e-commerce is investigated consumers trust sellers and products even though they cannot observe or touch, and electronic techniques with which they have no earlier experience. So some element like familiarity, Security, Uniqueness, Social Media and Visibility, Anticipate Every Question and Answer customer inquires quickly, Confirm customer after purchase, can help to create trust in e-commerce environment . Finally with creating trust we can maintain our customer as loyal person to our brand and product
References
- David Gefen* E-commerce: the role of familiarity and trust ,Department of Management, LeBow College of Business, Drexel University, 101 N. 33rd St/Academic Building, Philadelphia, PA 19104-2875, USA Received 12 August 1999; accepted 14 February 2000, The international journal management of science
- Pauline Ratnasingham Victoria University of WellingtonnNew Zealand ,Kuldeep Kumar Florida International University U.S.A. TRADING PARTNER TRUST IN ELECTRONIC COMMERCE PARTICIPATION
- Matthew K. O. Lee and Efraim Turban, A Trust Model for Consumer Internet Shopping, International Journal of Electronic Commerce /Fall 2001, Vol. 6, No. 1, pp. 75–91.
- Alemayehu Molla Department of Information Systems, University of Cape Town & Faculty of Business and Economics, Addis Ababa University Paul S. Licker Department of Information Systems, University of Cape Town E-COMMERCE SYSTEMS SUCCESS: AN ATTEMPT TO EXTEND AND RESPECIFY THE DELONE AND MACLEAN MODEL OF IS SUCCESS, Journal of Electronic Commerce Research, VOL. 2, NO. 4, 2001
- Carol Pollard, Appalachian State University, USA* Amanda Diggles, Tasmanian State Government, Department of Health and Human Services, Australia The Role of Trust in Business-to-Business E-Commerce Collaboration in a Unique Environment in Australia, International Journal of E-Business Research,Vol. 2, Issue 3
- Professor David E. Morrison and Julie Firmstone. FUNCTION OF TRUST AND IMPLICATIONS FOR e-COMMERCE Featured in the International Journal of Advertising. Vol.15 no.5 2000 THE SOCIAL
- Milena M. Head* ,Khaled Hassanein ,Trust in e-Commerce: Evaluating the Impact of Third-Party Seals, Quarterly Journal of Electronic Commerce, 3(3), 307-325
- CHRISTOPH ZOTT, INSEAD, France RAPHAEL AMIT, The Wharton School, University of Pennsylvania, USA JON DONLEVY, INSEAD, France, Strategies for ValueCreation in E-Commerce: Best Practice in Europe, European Management Journal Vol. 18, No. 5, pp. 463–475, 2000
- Fredrick F.Reicharheld and phil Schefter, E-Loyalty: your secret weapon on the web,Harvard business Review
About the Author
Masoumeh sadat Ardestani
Management and Science University
Section 13, 40100 Shah Alam, Selangor Darul Ehsan.
Tel (603-55216868) Fax (603-55112848)
Email: m.ardestani@farasoutnegar.com
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