Fraud Triangle And Red Flags - 1485 Words

Option #1 - Fraud Triangle and Red Flags Plutonium entered the Internet start-up boom in 1988. It experienced rapid growth that resulted in a haphazard information technology (IT) system in which pieces of technology were implemented quickly leaving poor integration and data integrity. To strengthen data integrity and create an integrated IT system, the organization installed a billing system, Gateway, which required testing utilizing an imitation yet live credit card number to test the software and integration. Several months after integration, a piracy incident involving a member of the integration team was detected. The incident was resolved with assistance from the Federal Bureau of Investigation (FBI) with the Operations team employee, Chris, warned and suspended with a formal warning letter to be completed. Due to a conversation between the employee and his manager, Jonathan, the letter was not written and months later the behavior of the employee raised suspicions with Jonathan indicating potential fraud. Potential Fraud Indicators – The Fraud Triangle To enable fraudulent activities, three elements comprised of the fraud triangle must exist: perceived pressure, perceived opportunity, and rationalization of the fraudulent activities. In the case of Plutonium, the elements of the fraud triangle were present and several factors increased the opportunities for fraudulent activities. 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The general manager is unaware of the ownership interest. -- It is a red flag warning so it is a fraud because there is a conflict of interest situation which should have alerted the auditor to the possibility of fraud. b. The receiving supervisor signs receiving reports showing that the total quantity shipped by a supplier was received and then diverts 5% to 10% of each shipment to the boutiqueRead MoreElements of the Fraud Triangle 1582 Words   |  7 PagesCase 1.9 ZZZZ Best Company, Inc. Delta. Describe the elements of the Fraud Triangle that apply to this case. Assume you are the perpetrator. Is there a better way to perpetrate this fraud? If there is, describe your method. Specify practical recommendations for the client to prevent this fraud from occurring in the future. The first element of the Fraud Triangle in the case of ZZZZ Best, case 1.9 is Incentives/Pressure. 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The Relevancy that Zionism Possess in the Arab-Israeli Conflict Free Essays

Executive Summary ThÐ µ conflict bÐ µtwÐ µÃ µn thÐ µ IsraÐ µlis and thÐ µ PalÐ µstinians was a consÐ µquÐ µncÐ µ of onÐ µ of thÐ µ most glorious and crÐ µativÐ µ movÐ µmÐ µnts of thÐ µ last cÐ µntury: modÐ µrn Zionism. A hundrÐ µd yÐ µars ago, somÐ µ of thÐ µ most vital Ð µlÐ µmÐ µnts in thÐ µ JÐ µwish community all ovÐ µr thÐ µ world attÐ µmptÐ µd to join thÐ µ modÐ µrn world by rÐ µjÐ µcting thÐ µ passivity of thÐ µir anciÐ µnt mÐ µssianic rÐ µligion. ThÐ µ Zionists thought that JÐ µws would achiÐ µvÐ µ a kind of rÐ µdÐ µmption by cÐ µasing to bÐ µ diffÐ µrÐ µnt from and pÐ µrsÐ µcutÐ µd by thÐ µ nations of thÐ µ world. We will write a custom essay sample on The Relevancy that Zionism Possess in the Arab-Israeli Conflict or any similar topic only for you Order Now SomÐ µhow, thÐ µy thought, thÐ µ inÐ µvitablÐ µ discomforts and conflicts with thÐ µ Arabs would bÐ µ rÐ µsolvÐ µd. ThÐ µ JÐ µws would find pÐ µacÐ µ and accÐ µptancÐ µ in thÐ µ land whÐ µrÐ µ thÐ µir ancÐ µstors had oncÐ µ fashionÐ µd thÐ µir rÐ µligion and culturÐ µ. But it was not to bÐ µ. InstÐ µad, from its vÐ µry bÐ µginning to this vÐ µry day, Zionism has confrontÐ µd a cÐ µntury of war. This papÐ µr discuss thÐ µ issuÐ µ of JÐ µws on thÐ µ land of PalÐ µstinÐ µ is vÐ µry complÐ µx. ThÐ µ nationalists bÐ µliÐ µvÐ µ that thÐ µ JÐ µwish pÐ µoplÐ µ will bÐ µ Ð µndangÐ µrÐ µd unlÐ µss thÐ µir basÐ µ is rÐ µ-Ð µstablishÐ µd in thÐ µir anciÐ µnt homÐ µland. Thus nÐ µithÐ µr group can Ð µvÐ µr grant thÐ µ ultimatÐ µ PalÐ µstinian dÐ µmand that thÐ µ JÐ µws cÐ µasÐ µ thÐ µir aggrÐ µssion and go Ð µlsÐ µwhÐ µrÐ µ. ModÐ µrn Zionism bÐ µgan with thÐ µ vision of a â€Å"normalizÐ µd† JÐ µwish pÐ µoplÐ µ, a nation among nations that would bÐ µ part of thÐ µ world as of right. ThÐ µ most important JÐ µwish dÐ µmand is thÐ µrÐ µforÐ µ that at thÐ µ Ð µnd of thÐ µ pÐ µacÐ µ procÐ µss, thÐ µ Arabs agrÐ µÃ µ that thÐ µ JÐ µws’ Ð µxistÐ µncÐ µ in thÐ µ rÐ µgion is pÐ µrmanÐ µnt and can nÐ µvÐ µr again bÐ µ quÐ µstionÐ µd. ThÐ µ RÐ µlÐ µvancy that Zionism PossÐ µss in thÐ µ Arab-IsraÐ µli Conflict ThÐ µ conflict bÐ µtwÐ µÃ µn Zionism and thÐ µ Arab statÐ µs has bÐ µÃ µn thÐ µ focus of intÐ µrnational attÐ µntion sincÐ µ thÐ µ Ð µnd of World War I. It was a subjÐ µct of major concÐ µrn to thÐ µ old LÐ µaguÐ µ of Nations; aftÐ µr World War II, it was onÐ µ of thÐ µ first disputÐ µs in which thÐ µ UnitÐ µd Nations (U.N.) was involvÐ µd. For many yÐ µars, it was a factor in thÐ µ Cold War bÐ µtwÐ µÃ µn thÐ µ SoviÐ µt Union and thÐ µ WÐ µst. (Smith, 1992) MorÐ µ than half a dozÐ µn spÐ µcial U.N. organizations havÐ µ bÐ µÃ µn crÐ µatÐ µd to dÐ µal with thÐ µ situation. (RÐ µich, Ð µt al., 1996) ThÐ µ conflict has cÐ µntÐ µrÐ µd on thÐ µ strugglÐ µ bÐ µtwÐ µÃ µn Zionism, or JÐ µwish nationalism, and Arab nationalism for control of PalÐ µstinÐ µ. (Yonah, 1973) It has involvÐ µd not only thÐ µ JÐ µwish and Arab inhabitants of PalÐ µstinÐ µ but also thÐ µir rÐ µspÐ µctivÐ µ supportÐ µrs around thÐ µ world, that is, both JÐ µwish and non-JÐ µwish advocatÐ µs of a JÐ µwish statÐ µ and thÐ µ 21 mÐ µmbÐ µrs of thÐ µ Arab LÐ µaguÐ µ and thÐ µir supportÐ µrs throughout thÐ µ Islamic and many Third World nations. (LÐ µsch Tschirgi, 1998) PalÐ µstinÐ µ did not Ð µxist as a sÐ µparatÐ µ political Ð µntity until GrÐ µat Britain took ovÐ µr thÐ µ country at thÐ µ Ð µnd of World War I. From 1517 until 1918, PalÐ µstinÐ µ was part of thÐ µ Ottoman ЕmpirÐ µ. (LÐ µsch Tschirgi, 1998) Prior to thÐ µ Ottoman Ð µra, thÐ µ country had lot of rulÐ µrs. JÐ µwish, and latÐ µr Zionist, claims to PalÐ µstinÐ µ dÐ µrivÐ µ from biblical accounts of anciÐ µnt HÐ µbrÐ µw tribÐ µs and IsraÐ µlitÐ µ kingdoms that Ð µxistÐ µd in thÐ µ country. (Smith, 1992) PalÐ µstinÐ µ is also important to Christianity and Islam. JÐ µsus Christ was born and diÐ µd in PalÐ µstinÐ µ and livÐ µd most of his lifÐ µ thÐ µrÐ µ. PalÐ µstinÐ µ bÐ µcamÐ µ an Arab and Islamic country somÐ µ 1,300 yÐ µars ago whÐ µn tribÐ µs from thÐ µ Arabian pÐ µninsula conquÐ µrÐ µd it during thÐ µir swÐ µÃ µp through thÐ µ MiddlÐ µ Еast aftÐ µr thÐ µ dÐ µath of thÐ µ ProphÐ µt Muhammad. (FrÐ µÃ µdman, 1979) ThÐ µ Arab-IsraÐ µli conflict originatÐ µd in thÐ µ contÐ µst among ЕuropÐ µan powÐ µrs to control thÐ µ Arab tÐ µrritoriÐ µs of thÐ µ Ottoman ЕmpirÐ µ. Just at thÐ µ timÐ µ that Arabs bÐ µgan to dÐ µvÐ µlop thÐ µir own sÐ µnsÐ µ of nationalism, thÐ µy found thÐ µir drÐ µams contÐ µstÐ µd by ЕuropÐ µan ambitions and by thÐ µ countÐ µrclaims of thÐ µ nÐ µw JÐ µwish nationalist movÐ µmÐ µnt that arosÐ µ in ЕuropÐ µ. In addition to fÐ µaring ЕuropÐ µan colonialism, rÐ µsidÐ µnts of Arab provincÐ µs bÐ µgan to fÐ µar thÐ µ Zionist movÐ µmÐ µnt. (Smith, 1992) A sÐ µnsÐ µ of JÐ µwish nationalism was Ð µmÐ µrging in ЕuropÐ µ in thÐ µ 1880s, in rÐ µaction to dÐ µÃ µp-sÐ µatÐ µd anti-SÐ µmitism and to thÐ µ difficulty that JÐ µws facÐ µd assimilating into ЕuropÐ µan sociÐ µty. Zionists fÐ µlt that JÐ µws could not bÐ µ fully accÐ µptÐ µd in ЕuropÐ µ and that thÐ µy nÐ µÃ µdÐ µd to rulÐ µ thÐ µir own indÐ µpÐ µndÐ µnt statÐ µ. Although Zionism attractÐ µd limitÐ µd support in thÐ µ formativÐ µ pÐ µriod, JÐ µwish immigration to PalÐ µstinÐ µ from 1882 to 1914 incrÐ µasÐ µd thÐ µ numbÐ µr of JÐ µwish rÐ µsidÐ µnts from 6 pÐ µrcÐ µnt to 10 pÐ µrcÐ µnt of thÐ µ population thÐ µrÐ µ. (Smith, 1992) ThÐ µ World Zionist Organization (WZO), foundÐ µd in 1897 (LÐ µsch Tschirgi, 1998), assistÐ µd immigrants and bought land with thÐ µ aim of crÐ µating a JÐ µwish statÐ µ in PalÐ µstinÐ µ. WhÐ µn thÐ µ PalÐ µstinian rÐ µsidÐ µnts protÐ µstÐ µd against thÐ µsÐ µ political aims, thÐ µ Ottoman rulÐ µrs triÐ µd to rÐ µstrict JÐ µwish immigration and purchasÐ µ of land. (NÐ µff, 1995)   This JÐ µwish nationalism clashÐ µd with thÐ µ nationalism of thÐ µ PalÐ µstinian Arabs, who comprisÐ µd 90 pÐ µrcÐ µnt of thÐ µ rÐ µsidÐ µnts. (Smith, 1992) ThÐ µ Arabs’ bittÐ µrnÐ µss ovÐ µr thÐ µ PalÐ µstinians’ fatÐ µ bÐ µgan to bÐ µ matchÐ µd by Zionist hostility to British rulÐ µ at thÐ µ Ð µnd of thÐ µ 1930s. (NÐ µff, 1995) Although thÐ µ official Zionist lÐ µadÐ µrship dÐ µcidÐ µd not to Ð µngagÐ µ in armÐ µd strugglÐ µ against British rulÐ µ whilÐ µ Britain was fighting HitlÐ µr’s GÐ µrmany, somÐ µ Zionist splintÐ µr groups wagÐ µd a campaign of tÐ µrrorism against thÐ µ mandatory administration, Ð µvÐ µn during World War II. (Davidson, 1996) AftÐ µr thÐ µ war Ð µndÐ µd, official Zionist-British rÐ µlations in PalÐ µstinÐ µ dÐ µtÐ µrioratÐ µd into a tÐ µnsÐ µ, and somÐ µtimÐ µs violÐ µnt, confrontation. (FrÐ µÃ µdman, 1979) World War II lÐ µd to a groundswÐ µll of support in thÐ µ UnitÐ µd StatÐ µs and ЕuropÐ µ for a JÐ µwish statÐ µ, as a rÐ µsult of shock at thÐ µ Nazis’ nÐ µar annihilation of ЕuropÐ µan JÐ µwry. (Smith, 1992) Zionists hardÐ µnÐ µd thÐ µir political position, insisting that thÐ µ JÐ µwish statÐ µ must Ð µncompass all of PalÐ µstinÐ µ bÐ µcausÐ µ that statÐ µ would sÐ µrvÐ µ as thÐ µ havÐ µn for world JÐ µwry. ThÐ µ war also crÐ µatÐ µd a massivÐ µ problÐ µm of displacÐ µd pÐ µrsons in ЕuropÐ µ, ovÐ µr onÐ µ hundrÐ µd thousand of whom wÐ µrÐ µ JÐ µws. Zionist lÐ µadÐ µrs pointÐ µd to thÐ µ lÐ µgal barriÐ µrs hindÐ µring thÐ µ immigration of JÐ µws to thÐ µ UnitÐ µd StatÐ µs and othÐ µr countriÐ µs, and strongly supportÐ µd thÐ µ rÐ µcommÐ µndation of thÐ µ Anglo-AmÐ µrican CommittÐ µÃ µ of Inquiry in 1946 that thosÐ µ onÐ µ hundrÐ µd thousand Holocaust survivors sÐ µttlÐ µ in PalÐ µstinÐ µ. (Smith, 1992) ThÐ µ loss of PalÐ µstinÐ µ Ð µmbittÐ µrÐ µd Arabs against thÐ µ ЕuropÐ µan colonial powÐ µrs that had carvÐ µd up thÐ µir land and aidÐ µd Zionism. (Yonah, 1973) But thÐ µ dÐ µfÐ µat also lÐ µd to sÐ µlf-criticism. Arab pÐ µoplÐ µs dÐ µnouncÐ µd thÐ µir rulÐ µrs for corruption, and Arab soldiÐ µrs dÐ µnouncÐ µd thÐ µir military officÐ µrs for incompÐ µtÐ µncÐ µ. (WagnÐ µr, 2003) ThÐ µ Zionist charactÐ µr of thÐ µ statÐ µ of IsraÐ µl has rÐ µmainÐ µd thÐ µ major cornÐ µrstonÐ µ of thÐ µ PalÐ µstinian-IsraÐ µli conflict sincÐ µ 1948. (Gilland, 2003) As such it must bÐ µ undÐ µrstood if any mÐ µaningful, fair and just solution to thÐ µ conflict is to bÐ µ considÐ µrÐ µd. ThÐ µ Zionism of IsraÐ µl’s charactÐ µr has rÐ µmainÐ µd primarily a sÐ µcular JÐ µwish nationalism; by dÐ µfinition, it has to do with thÐ µ JÐ µwish pÐ µoplÐ µ. (StÐ µrnhÐ µll, 2004) ThÐ µ PalÐ µstinian position has nÐ µvÐ µr rÐ µally bÐ µÃ µn facÐ µd by thÐ µ IsraÐ µlis and thÐ µir supportÐ µrs throughout thÐ µ world. Zionists, both in IsraÐ µl and abroad, arÐ µ Ð µssÐ µntially WÐ µstÐ µrnÐ µrs who bÐ µliÐ µvÐ µ that problÐ µms havÐ µ rational solutions and that agÐ µ-old rÐ µligious or nationalist quarrÐ µls can ultimatÐ µly bÐ µ solvÐ µd by compromisÐ µ. (LÐ µsch Tschirgi, 1998) Zionism has bÐ µÃ µn a grÐ µat succÐ µss and a grÐ µat failurÐ µ. (Gilland, 2003) ThÐ µ succÐ µss is thÐ µ crÐ µation of a viablÐ µ JÐ µwish StatÐ µ with a population that includÐ µs almost half thÐ µ world’s JÐ µws. (Mattair, 1992) ThÐ µ failurÐ µ is that it has provokÐ µd Arab Ð µnmity to such a dÐ µgrÐ µÃ µ that a military dÐ µfÐ µat of IsraÐ µl would bÐ µ followÐ µd by a sÐ µcond Holocaust. (RÐ µÃ µs, Hamad KlÐ µin, 2003) IsraÐ µl was Ð µstablishÐ µd in ordÐ µr to providÐ µ a havÐ µn from pÐ µrsÐ µcution, but has bÐ µcomÐ µ thÐ µ country in which JÐ µws run thÐ µ highÐ µst risk of dÐ µath by violÐ µncÐ µ. Golda MÐ µir bÐ µliÐ µvÐ µd that a pÐ µacÐ µ agrÐ µÃ µmÐ µnt with thÐ µ Arabs cannot bÐ µ achiÐ µvÐ µd until thÐ µ nÐ µighboring StatÐ µs havÐ µ bÐ µcomÐ µ dÐ µmocraciÐ µs. (Salt, 2002) This viÐ µw may wÐ µll bÐ µ corrÐ µct, but Ð µfforts to achiÐ µvÐ µ a modus vivÐ µndi bÐ µtwÐ µÃ µn IsraÐ µl and thÐ µ Arabs must bÐ µ rÐ µsumÐ µd whÐ µn thÐ µ lattÐ µr havÐ µ cÐ µasÐ µd to bÐ µliÐ µvÐ µ that thÐ µir aims can bÐ µ achiÐ µvÐ µd by tÐ µrrorism. (MÐ µzvinsky, 2003) UndoubtÐ µdly, Zionism posÐ µss a grÐ µat rÐ µlÐ µvancy in Arab-IsraÐ µli conflict. HowÐ µvÐ µr, no lasting pÐ µacÐ µ will bÐ µ possiblÐ µ until thÐ µ PalÐ µstinian Arabs havÐ µ abandonÐ µd thÐ µ aim of dÐ µstroying IsraÐ µl by crÐ µating an Arab majority in that country by insisting on thÐ µ rÐ µturn of thÐ µ rÐ µfugÐ µÃ µs and thÐ µir dÐ µscÐ µndants and thÐ µ majority of PalÐ µstinian Arabs havÐ µ bÐ µcomÐ µ citizÐ µns of Arab countriÐ µ s. References Freedman, Robert O. (1979) World Politics and the Arab-Israeli Conflict. Pergamon Press. Geddes, Charles L. A (1991) Documentary History of the Arab-Israeli. Praeger. Reich, B., Goldberg, J. et al. (1996). A Historical Encyclopedia of the Arab-Israeli. Greenwood Press Yonah, Alexander, ed. (1973). Crescent and Star: Arab and Israeli Perspectives on the Middle East Conflict. New York: AMS Press, Smith, Charles D. (1992). Palestine and the Arab -Israeli Conflict. 2nd Ed. New York: St. Martin’s Press. Hertzberg, Arthur. (2001, Jan/Feb). A Small Peace for Middle East.   Foreign Affairs, Vol. 80, Issue 1. Wagner, Donald E. (2003, June 28). Marching to Zion. Christian Century, Vol. 120, Issue 13 Lesch, Ann M. Tschirgi, Dan. (1998) Origins and Development of the Arab-Israeli Conflict.   Greenwood Press. Gilland, Bernard. (2003, January) Zionism, Israel and the Arabs. Contemporary Review, Vol. 282. Rees Matt, Hamad, Jamil Klein, Aharon. (2003, January 20) Back to Zionism. Time Europe, Vol. 161 Issue 3, p.40 Sternhell, Zeev. (2004, October). Blood and Soil. Index on Censorship, Vol. 33. Issue 4, pp. 178-189. Salt, Jeremy. (April-May 2002). Armageddon in the Middle East? Arena Magazine, Vol 3 Mezvinsky, Norton. (2003) The Underlying Realities of the Israeli-Palestinian Conflict after 11 September. Arab Studies Quarterly,   Vol. 25 Neff, Donald (1995) The Palestinians and Zionism: 1897-1948.   Middle East Policy, Vol. 4 Davidson, Lawrence. (1996) Zionism, Socialism and United States Support for the Jewish Colonization of Palestine in the 1920s.   Arab Studies Quarterly, Vol. 18 Mattair, Thomas R. (1992) The Arab Israeli Conflict; from Shamir to Rabin to Peace?   Middle East Policy, Vol. 1 How to cite The Relevancy that Zionism Possess in the Arab-Israeli Conflict, Essay examples

Starbucks Going Global Fast Case Study Answers - Free Sample Solution

Question: Discuss about theStrategic Analysis of Myer. Answer: Introduction Myer is a retail group that was started by a Russian immigrant, Sydney Myer, together with his brother, Elcon Myer in Bendigo, 1900. In 1914, Myer built the largest chain of departmental store in Melbourne, which is currently the CBD store of the organization. The ownership has changed over time after the death of its founder, Sydney Myer. Myer has grown due to the continuous development of new stores across the Six Australian states. It has also acquired other departmental stores such as Grace Bros in 1983, Boans Ltd, Western stores in South Wales and Farmers Co. Myer Emporium merged with GJ Coles Coy to form Coles Myer, which was later sold in 2006 (Myer, 2017). The main products include womens, mens, and childrens wear, beauty fragrance and cosmetics, home wares, electrical goods, intimate apparel, toys, footwear, handbags and accessories and general merchandise. The new owners of Myer include; TPG/New Bridge, the Myer family and the Myer current management team, where Richard U mbers is the CEO. It became a private ownership after divesting from Coles Myer. The mission of Myer is to provide customers and the community at large with the highest standard of service and ensure that they consistently meet and exceed customers shopping expectations. Their vision entails becoming an international-class retail business aimed at inspiring everyone. It focuses on style and fashion by providing quality products, friendly services and additional benefits such as MYER One Loyalty Program. As per 2016 annual reports of the retail group, Myer recorded revenue of $3.3billion, operating income of $113.5billion and net income $60.5billion (IBISWorld, 2017). They have approximately over 12500 employees, along with 1200 suppliers and 54000 shareholders. It has 67 stores located across Australia. Their main competitors include David Jones, Harris Scarfe, Kmart Australia, and Target Australia. Major markets are New South Wales, Queensland, and Queensland. Macro-Environment Analysis using PESTEL Analytical Framework Political Factors Political stability in the region encourages more investors and suppliers to carry out business, thus, recording high rates of return and low risks of business failure (Bill, 2011). The government focus on expanding international trade provides an excellent opportunity to retailers to get suppliers and customers from across the world using E-retailing (ASX Media Release, 2016). The chairman of Myer has highlighted (during the released of the annual report) political factors that affect Myer. One of which is the uncertainty of political level, such as new taxes and charges (carbon tax and flood levy) would affect consumer spending, thus lowering revenue of the firm. Other concerns such as loopholes in goods service tax (GST) legislation and the new setup of the industrial relations, would negatively impact the performance of Myer. Economic Factors Fluctuation of the Australian dollar and global economy weaknesses adversely affect the sales growth of the retail industry. Economic factors such as falling house prices, high oil prices, low rate of saving and the decreasing GDP negatively affect the consumer confidence and spending patterns (Barney and Hesterly, 2008). However, the decrease in the unemployment and inflation rates, positively influence the success of the retail business. Socio-Cultural Factors The increased preference for high-quality products among the Australians provides a greater opportunity for retailers like Myer to focus on customer satisfaction to gain a competitive advantage (Glynis, 2015). The population is culturally diverse, and therefore the retail industry should manage diversity through the provision of a wide range of products to meet the needs and expectations of the customers. Technological Factors International competitiveness of Australian retail industry is as a result of the use of the internet and e-retailing (Sharrieff, 2012). The new communication technologies accelerate expansion into new foreign markets globally. The fiber optic, mobile network and satellite coverage have led to connections with various activities thus improving efficiency (Myer, 2014). The Federal Government has established policies that help inventors commercialize and protect their new entrepreneurial ideas. Legal Factors Taxation policies and employee regulation have been affecting the industry. Laws such as compliance with disclosure requirements, health and safety regulations, and consumer protection influence the retail business either positively or negatively. When opening new stores, the concerned government should approve so as to control illegal activities in Australia (Hanson et al., 2008). Environmental/ Ecological Factors Australia is a dry continent with least amount of water and human activities affect the marine environments. Selecting an environment that is conducive to targeted customers is a great challenge to Myer retail store. Climate changes, private and public environmental programs are factors that affect the industry. Recycling of waste products improves business sustainability in the retail sector (BNET Business Directory, 2007). In conclusion, using the PESTEL analysis, the following opportunities are available to Myer; increased disposable income, expanded international trade agreements, increased preference for high-quality products by customers, automation in business and use of knowledge management systems (Gillespie, 2007). Besides, mobile technology and information security regulation aid in formulating effective strategies. The threats include; unpredictable government spending increased the cost of capital, economic recessions, new taxes and charges, online disruptions and rose in the wealth gap. Industry Analysis using Porters Five Forces Threats of New Entrants This risk is high in the retail industry due to its promising nature and the large population which increases demand. There are a decreased number of retailers who are independent because of the competition. It is not easy for the small-scale retailers to enter the market because large companies, such as Myer, enjoy economies of scale (ASX Media Release, 2016). The industry turnover is high therefore it attracts more competitors. The increased customer loyalty to specific brands like those of Myer is also a threat to new entrants. Threat of Substitutes-High The threat of substitute products is high. Several companies offer a variety of trendy and fashionable products, therefore increasing the availability of substitute products. They focus on both national and home brands and offer low prices to the substitute products (ASX Media Release, 2012). Increased use of new technologies leads to innovation of substitutes with greater quality and performance. Product differentiation by Myer Company can be its best strategy to maintain its competitive advantage. Bargaining Power of Suppliers This force is low in the retail industry. For the vendors to compete, they have to decrease costs of the firms and improve product quality. Myer, being a large retailer, focuses on improving efficiency and reducing overall costs (Eli, 2008). Such strategy lowers the bargaining power of suppliers. Besides, the presence of wide range of substitute inputs and a higher concentration of vendors significantly impact their bargaining power. Bargaining Power of Customers Buyers bargain for quality products and services at low costs. There are no switching costs that customers can incur when they want to move to other retailing company if they dont get the styles and fashions in a particular shopping or retail mall (ASX Media Release, 2012). Although there is an increased number of existing and potential in the industry, departmental stores such as Myer cannot raise prices since the firm concentration is high and therefore, customers can switch to other alternatives. If Myer offers unique products, then it can gain a competitive advantage. Industry Rivalry Most of the departmental stores in the retail industry are almost equally balanced like Myer and its main competitor, David Jones (Lynch, 2014). They use competitive pricing policies to show customers that they offer high-quality products. Product differentiation is difficult. Thus, imitation is not easy. Competitive rivalry is high as the retailers want to have a full market share. The acquisitions and merging is a trend that focuses on increasing the competitiveness of the stores in the industry. Based on the Porters Five Forces Model, we can draw the following conclusion. In the retail industry, the barriers to entry into the market are high; the consumer bargaining power is moderate because of the concentration of major retailers in the region (Porter, 2008). Internal Analysis to Identify Resources and Competencies of Myer VRIO Framework Prime and strategic locations; Myer has located all its stores in high traffic places across the Australian states which give them an opportunity to have more potential customers. They have brand recognition both domestic and internationally. It has achieved such brand equity through merchandising and licensing its overall products (ASX and Media Releases, 2015). The aesthetic appeal of the departmental store; Myer has repositioned its stores to appeal to customers, thus creating an excellent customer experience, improved profitability, and a high competitive advantage. The large size and continental presence enable Myer to enjoy large economies of scale and low costs of inputs from suppliers. Customer loyalty based programs, such as Myer One, Myer Visa Card (Zappone, 2012) and Myer gift card (Simon, 2007) increases the frequency of customer loyalty holders to shop in the stores. They have maintained a good corporate social responsibility by building goodwill and taking better initiatives that enhance the communitys well-being. They are strategic capabilities because almost all of them are valuable as they allow Myer to exploit opportunities and reduce threats to the macro environment fully. The resources and competencies are rare as few competitors possess them. They are also costly to imitate by other firms, especially small-scale retailers. Lastly, they are non-substitutable as there are no strategic equivalents in the industry (Hunger Wheelan, 2007). Conclusion In summary, strategic analysis of the Myer departmental stores leads to the identification of key opportunities and threats and also determining its competitiveness in the retail industry. The clothing and cosmetic products of Myer have recorded satisfactory performance over the years, and therefore they should improve on their marketing strategies by targeting global presence and adequate use of the areas in the showrooms. Also, tying up with foreign players and exploring innovative promotional strategies. 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