Tuesday, May 26, 2020
Where to Find the Best Free Essay Samples
Where to Find the Best Free Essay SamplesIn the past, any high school student that had a passion for writing and wanted to earn a degree, would need to take different forms of education courses in order to be able to pursue their academic career. However, today, a person can earn their high school degree from just one or two essays. Because of this, there are no more requirements for it in terms of class completion and schedules.Being a good essay writer can also make you a strong choice for getting an excellent job. With today's jobs, businesses are more competitive than ever and people will consider someone that has a lot of experience in this field and how it will make them a good worker. Since there are plenty of people who are interested in getting a degree in this field, it has become much easier to get into this type of job.One of the main reasons why there are so many people who are ready to become a graduate, is because of the advancement of technology in this field. Since t here are numerous companies that are working on making their staffs for more productive, they are recruiting and hiring experts in this field. This will make their businesses more efficient and give them an edge when it comes to producing a product or service.Besides, there are plenty of websites that will offer free college essay samples for high school students to make them write a good college essay. Just like anything else, if you are willing to give your time and effort, it is almost always possible to do so. With all of these, finding the right essay samples is also very easy.Most of the people who are interested in writing a college essay can use the examples and instructions that will be provided by the professional. However, there are still some who prefer to do it on their own and create their own examples. For this, they can simply look for the sample essays online or anywhere else on the internet. These will offer them tips and advices on how to write an excellent colleg e essay.Some of the websites have different high school students as well as professionals from different countries who are offering samples. The best thing that these websites can offer you is that they will show you how to write an average essay. This will also teach you to make it something that you are proud of. These would also guide you through the types of questions that you will have to answer and give you tips on the places that you should put the information.There are so many websites that offer free essay samples that have essays that will make it easier for you to write an excellent college essay. Besides, it will also help you to find the places that can offer you better essay samples. Be sure to take a look at all of these and you will be able to make it much easier for you to be a successful student.
Friday, May 15, 2020
From January 16, 1919 To December 5,1933, The Volstead
From January 16, 1919 to December 5,1933, the Volstead Act made it illegal to sale, manufacture, or transport alcohol. Although the Volstead Act was to stop drinking completely, it did just the opposite. People were willing to drink alcohol illegally which gave way to bootlegging, speakeasies, gangsters and organized crime.Mark Twain summarizes this time by saying, ââ¬Å"Prohibition only drives drunkenness behind doors and does not cure it, or even diminish it.â⬠Prohibition, by this time, had become a long-standing issue. Groups such as the Anti-Saloon League and the Womenââ¬â¢s Christian Temperance Union had been around since the 1800s. Conceived by Wayne Wheeler, the leader of the Anti-Saloon League, the Eighteenth Amendment passedâ⬠¦show more contentâ⬠¦(Beverly Gage)These groups became known as the ââ¬Å"Drysâ⬠and those who were against them were known as the ââ¬Å"Wetsâ⬠. The ââ¬Å"wetsâ⬠were in favor of keeping alcohol and wanted to keep it by any means necessary. After the Volstead Act was passed, bootlegging and gangsterism became very popular. Bootleggers first began to import alcohol from Canada and Mexico, but soon began importing from the Bahamas, Cuba, and the French islands of Saint-Pierre and Miquelon, off the southern coast of Newfoundland. (Britannica). As time went on, the citizens of the United States became more daring and began making their own alcohol and created ââ¬Å"undergroundâ⬠bars called speakeasies. One of the most famous bootleggers of this time was Al Capone. New York Times called him,â⬠The symbol of a shameful era, the monstrous symptom of a disease which was eating into the conscience of America.â⬠Not only were these bootleggers transporting and selling alcohol in speakeasies, but now doctors pushed prescription alcohol to ââ¬Å"cureâ⬠illnesses. Once Prohibition took effect, many doctors championed alcohol as medicine. I have always maintained that every family oug ht to have an alcoholic stimulant in the house all the time, one physician told the New York Times. There is nothing more valuable in emergency. The doctor himself always took a drink at the end of the dayââ¬âIt braces me up, he explainedââ¬âand often prescribed it for patients stricken with nerves. For pneumonia, he
Wednesday, May 6, 2020
Group Counseling For Children And Adolescents - 1630 Words
Group Counseling Individuals with learning disabilities have a particularly high incidence of mental health problems and are often assigned what is known as dual diagnosis. The lack of research in counseling this client group and the need for counselors to show that they are not discriminatory in their practices and are compliant with anti-discriminatory legislation adds to the case for placing inclusion/exclusion in counseling in the public arena (Pattison, 2006, p. 547). Introduction Are group counseling sessions used in a school environment the best strategies to help children and adolescents with special needs learn the social skills they will need in life? An article in the peer-reviewed journal Education suggests that indeed, group counseling is an effective way to teach social skills. This paper reviews the article and comments on the learning that was accomplished and discusses in the article. Group Counseling with Students who have Special Needs Derk Stephens and colleagues explain that there are a number of deficits that children and adolescents with special needs that contribute to their struggle to learn. Those deficits include: hyperactivity, distractibility, impulsivity, anxiety, emotional liability, low self-esteem, aggressive behaviors, difficult recognizing the emotions of others along with behaviors that are considered socially unacceptable (Stephens, 509). When children with special needs go through a day exhibiting some of theseShow MoreRelatedThe Juvenile Justice System795 Words à |à 4 Pagesdiversion programs, which helps adolescents who have been arrested for first-time misdemeanors. These diversion programs use group counseling as a mandatory component of sentencing demonstrates initial success in reducing recidivism rates in national outcome studies. The goal of these diversion programs is to keep adolescents out of the juvenile justice system whenever possible (Lipsey, Howell, Kelly, Chapman, Carver, 2010). These diversion programs divert adolescents from entering the juvenile justiceRead MoreThe Juvenile Justice System778 Words à |à 4 Pagesprograms that are used to help adolescents who have been arrested for first-time misdemeanors. These diversion programs use group counseling as a mandatory component of sentencing demonstrate initial success in reducing recidivism rates in national outcome studies. The goal of these d iversion programs are to keep adolescents out of the juvenile justice system whenever possible (Lipsey, Howell, Kelly, Chapman, Carver, 2010). These diversion programs divert adolescents from entering the juvenile justiceRead MoreGroup Counseling824 Words à |à 3 PagesIntroduction Group counseling can be appealing, but it involves solving a problem common in the group. The goals should be listed to ensure that the counselors achieve their goals, proper research and evaluation should be done before choosing a group. Observation is also critical because it helps the counselor aware of the group process. Group process is a sub- conscious process that takes place within a group as a whole; it involves personal and interpersonal process. Groups involve integrationRead MoreEssay about Consultation and Advocacy in Counseling1478 Words à |à 6 PagesConsultation and Advocacy in Counseling Donna Boyett COUN 5004 Survey of Research in Human Development for Professional Counselors August 4, 2012 195 Wayfair Lane Hinesville, GA 31313 Telephone: (912) 980-1231 Email: Donna.Boyett@hotmail.com Instructor: Kathy Blaydes Abstract This paper discuses the importance of social justice advocacy and consultation in the counseling profession. The introduction is an explanation of social justice advocacy, and the different ways counselors advocateRead MorePsychology : A Human s Mind1399 Words à |à 6 Pagestaught into and gathered from experiences as a child. As children grow older, they soon start deciphering this information to decide for themselves which of their actions are right and wrong. What draws me to study psychology is this mental processing, and how it affects a person s current and future character; particularly children. Childhood is a stage when a person s individual identity begins to form; Children, more so than any other age group, are easily influenced by their surrounding environment;Read MoreImpact Of Obesity On The Health And Development Of Children And Adolescents1519 Words à |à 7 Pagesprofound impact on the health and development of children and adolescents. There are immediate and lon g term health risks, such as, asthma, sleep apnea, orthopedic complications, acid reflux, cardiovascular disease and insulin resistant type 2 diabetes. Severely obese adolescents can suffer serious morbidity. In fact, there are few organs systems that obesity does not affect. Of equal concern, are the teasing, discrimination, and bullying of obese adolescents (Must, 2011). While treatments such as behavioralRead MoreA Research Study On Group Therapy1178 Words à |à 5 PagesThe number of children and adolescents who suffer from anxiety have increased tremendously over the past several years. The two treatment options that can be offer to an individual dealing with anxiety is medication and therapy. Out of the two, therapy has been known to be the most effective. Although people are more familiar with traditional therapy, group therapy has become just as prolific. Group counseling is a special type of therapy composed of a small group of individuals under the guidanceRead MoreCounseling Research1570 Words à |à 7 Pagesintervention focused on an adolescent with any kind of phobia based on the Solution-Focused Brief therapy. Not to retract in time, but to help the client come up with a possible solution of their phobia within a short amount of time. Different researches show the different ways and strategies of information gained by different counselors. Discuss the importance using research to advance the counseling profession (2 paragraphs) There are many things that research brings to the counseling world; it providesRead MoreThe Ethics Of The Counseling Profession1371 Words à |à 6 PagesThe counseling profession can be an excellent, rewarding, and challenging field. The purpose of counseling is to help individuals understand and clarify their own values and beliefs across a lifespan. Counseling also help individuals to become self-sufficient by implementing interventions and strategies that involves goal-setting skills that is meaningful to an individual. Individuals who may seek counseling are individuals who encountered marriage and family issues, stressful or traumatic eventsRead MoreThe Issues Of The Field Of Psychology987 Words à |à 4 Pagesinternet is almost mandatory to establish and maintain healthy relationships (Greenfield and Yan, 2006). This is especially true amongst children, adolescents and teenagers. The need for psychologists have never been greater in order to assess how individuals are abl e to acclimate to this societal change. Traditionally, there are two methods in which children, adolescents and teenagers communicate via the internet, through social media and video games. Each primary method presents their own unique social
Tuesday, May 5, 2020
Technology and Innovation Management Payment Service Organization
Question: Describe about the Technology and Innovation Management for Payment Service Organization. Answer: Introduction Section 1: First Section MasterCard is one of the leading online payment services organizations in the world today. With the advent of globalization, the online payment processing services has become a key element of the innovations of the new technologies where the consumers use such services for online shopping, touch less transactions and in future to have biometric technology. The firm Master Charge framework was established by some banks of California in 1960s to contest with Visa (earlier known as Bank AmeriCard). The name Master Card was introduced in 1980 and now it is the second largest online payment service in USA after Visa. With the advent of globalization, it has become imperative for Master Card to keep pace with the new rivals existing in the market and thus such competition is both a challenge and an opportunity to the organization. Master Card conquered Euro pay International, one of the leading credit card network in Europe in the year 2002. The banks in Europe that was the holder of Euro pay now holds an ample stake in Master Card. The banks of Europe are habituated of saying a lot about the activities of Master Card in Europe and this loss in trust ultimately affected the IPO negotiations. Creativity refers to the process of innovating values by working differently, and it is generally meant to believe that it is a successful implementation of a new technique, which will be beneficial to generate value. It refers to revolutionary, radical transformation in the idea of a process or product. It can also be minimum alterations which lead to sustainable improvements rather than a huge change. The essential feature of what answers innovation in the industry of financial services is that these transformations need to rise the value for the clients and the manufacturer. The aim of innovation is to bring in a positive change and to improve the process. The meaning of the word value differs from person to person and thus defining it would be like different consumers and markets can seek out different need in something that is costing them the same amount as they find a different beneficial package rendered to them in specific situations. According to Davenport (2013), innovatio ns related to finance is something unique that decreases costs and risks and gives out an updated product or service that satisfies the demands of the participants better. This study will provide information about the logic based analysis of innovation in the payment process that has led to the efficiency in the consumer payment services in Australia and in other countries as well during the last few years. In this respect, it also examines the effect of suitable variables that impede such variables. With new and modern techniques in this industry, such techniques mainly concentrate on a sustainable improvement of the payment process and services, subsequently improving the user proposition of the customers. Adoption of new technologies in the perpetual payment services is an effect of evolution in the technological sector. The mobile phone use as a method of payment channel is also in use in Australia with patience waits for a couple of years after which they are predicted to be introduced in the prevailing market. The paper will thus discuss about the innovative techniques introduced by the Master Card and how the implementation of such mechanism will develop the economy and the standard of living of the citizens of the society. The reason behind choosing the organization Master Card in Australia is due to the fact that there have been significant changes in the Australian payment service over a period of time. The use of paper like cheques as a mode of payment have been replaced by electronic substitutes with paper based transactions limiting to only old and conservative customers. The process of direct debit and direct credit has been in use for the last twenty years but the path of use has changed over the years from the counters of a bank to internet. Internet has been an easier access to the customers and firms has compelled to have a growth in these type of payment process. In the 90s, Telstra (earlier known as Telecom Australia) brought in prepaid stored value cards and in the current scenario such cards are being used very economic sector even in the ATMS. Australia has seen drastic changes with the introduction of substitute electronic payment systems like BPAY, Pay Pal, Post Bill Pay etc in the las t ten years. At the expense of cheque, which have reduced in both value and quantity, electronic payment mechanism has increased to a substantial amount. EFTPOS and credit cards have seen the growth to the largest amount with respect to the number of transactions. The uniqueness in the future step of payment is the use of biometrics which is merging rapidly. Most of the major organizations are using fingerprints for a valid identification to make payments with respect to PIN and signature, which can be duplicated or stolen. For example, the application named Pay-by-Touch used in some supermarkets in US is the perfect example of the use of biometrics. There still has been improvements in the authentication method in the internet payment service and the customers are still worried about the fact that their personal information and payments are not safe yet. Section 2: Collaboration strategies One of the main concerns about every organization is to find answers to the difficult decisions with respect to the operations to be performed internally and externally and whether to operate individually or collaboratively with one or more partners. Collaboration also enables the companies to reach for more at an increased rate with low risk and cost associated to it. But still, there exists a few negatives in collaboration as the new firm can expose the organization to risks (Yoo, 2013). Collaboration sometimes result in giving up a certain degree of supervision on the development and few share predicted awards for the creativity but it can also reveal the industry to risk of misconduct by the partners. Master Card however though does not need any collaboration with any other companies as Master Card itself possesses its own resources and capabilities for the innovation and development of internal projects. The organization also might think of selecting a project of individual venture if it thinks that collaborating might put the technologies at a risk. Few organizations think of avoiding any collaboration as it thinks that the proprietary technologies may not be a secret anymore. If the organization works with another firm, the trade secrets of the organization may get exposed to its rivals. The organizations also seek to have exclusive hold on its own technologies during the development period. Every firm wishes not to disclose its detailed secretes about its product or service for the exchange of any patents and thus most of the enterprise wishes to keep its innovations as trade secrets. Trade secret thus refers to any information that remains solely to particular firm and remains unknown to the others. Any information is treated to be a trade secret only if it shows a distinctive edge to any company in the economic sense and remains valuable only till the time when the information remains private. Thus trade secrets include data about a companys customers, its goals and its business processes. Any data can be treated as a trade secret only if it meets the norms under the Uniform Trade Secret Act. The norms are as follows: The data should not be known or easily available through any legal means. The information should have importance regarding the economy and should remain secret. Reasonable measures must be taken by the holder to keep the information secret. If all the norms are met by any information, then according to the Uniform Trade Secret Act, owner can restrict any third party from taking benefits out of this data without prior permission. The act thus recommends that no one can duplicate or use to reap the benefits out of a trade secret only if they are bound by any confidential duty, or have signed a non disclosure agreement, gained the information through any illegal means or have received the information from someone who is not authorized to disclose it. For example, in many states of USA, if the entrepreneur of a trade secret feels that another party or firm has stolen or revealed its information regarding its trade secrets, then they can take the help of the court to file an injunction against any more use of the trade secret and they can even claim for damages due to any financial and economic injury suffered due to the illegal use of this information. For example, in November 2002, proctor and Gamble claimed that Potlatch Corporation had stolen its trade secrets to manufacture bath tissues and paper towels by employing two of Proctor and Gambles experts of manufacturing. During 2003, both the organizations had come to a settlement out of court keeping the terms of agreements a secret. During the end of the 1990s, Master Card redesigned its image as Priceless during its promotional campaign. The promotion delivers a message unavailability of cash can never stop anyone from generating priceless moments with the friends and families. Every promotional advertisement starts with the image that every service or product is bought with a credit card and is followed by a sentence showing some memorable moments, such as precious time with ones children which is not purchasable (Dodgson, et al., 2015). The word priceless then is shown on the screen along with a voiceover that There are certain things money cant buy and for everything else, theres Master Card. The promotional campaign promotes the organization as a financial service organization that understands family value and supports the restrictions of consumerism. The advertisement also shows that the payment service via Master Card gives a warmer feeling to the family and friends and not any interest charges or late fe es. The organization protects its brand very aggressively and has sued any infringers who have used their tagline Priceless. All the member banks and the merchants need to follow the rules and policies in how they represent the acceptance mark and brand marks. The image of the firm has however been faded through some litigation. The effect on the average customers of such litigation has been minimum, but the antitrust regulators wearing the shoes of the customers view Visa and Master Card to act together as the two major US credit card organizations like the next Microsoft (Shani, Chalasani, 2013). The advantage of such aggressive mentality of the firm can be seen at present. Master Card has complete control on their process of development though having a partnership can save money and time. They think that efforts for development are the essential elements to create and renew its abilities. Individual development of innovations pertaining to technology creates a challenge to the enterprise to establish new skills, market knowledge and resources. There are several reasons for an industry to choose an individual development but there exists several factors for a firm to engage in collaborative development and thus there exists an increase in such initiatives. The next part of the paper, discussions will be done for the advantages of collaboration and weaknesses and strengths of various types of collaboration (Norman, Verganti, 2014). External perspective The existing rivalry degree There is a high level of competition for Master Card as a technological processing payment unit. Its biggest rival is Visa as they have a similar structure of business as Master Card. The threat of Potential Entrants The level of new entry in this sector is minimum as the level of global processing payment facilities is huge. New entrants such as Jacobs, American Express and Diner pose minimum threat to Master Card. Bargaining power of Suppliers There is no supplier for Master Card as it is a technology organization and are continuously developing new ideas and security organizations act together to regenerate proper software and hardware. Bargaining power of Buyers There exist a lot of buyers for the firm such as banks, consumers and government thus creating a high bargaining power on Master Card as there is very similar substitute to this firm that gives same sort of service at the same price. Threat of new substitutes There is no substitute for such firms. Master Card is showing the way for universal payments processing. The chances of a new rival entering the market with some new ideas of seamless and easy payments that is globally accepted is very low. The reason is that the banks, governments and the consumers have a lot of trust in the existing firms such as Master Card, American Express and Visa (Lages, 2016). Internal Perspective Does the firm have a different source of competitive differentiation? The firm Master Card has met all the Hamels and Prahalad 3 criteria. The technology used by Master Card to present to the banks allows the customers to get benefit of cashless payments that is more appropriate. It is very difficult for the rivals to duplicate as Master Card holds the technology that is essential to perform such universal technology that can be used for many different services and products. Does the competency responds to a single business? The competency only transcends to a single business as Master Card is such a huge organization that any technological changes have become difficult for application. Thus they have established their own labs, which is a different department all together concentrated to innovate Master Card. Thus, the firm only concentrates on functioning the present business at a worldwide range and the labs concentrate on providing the current innovations and security. Are the competitors having difficulty to imitate the competency? It is hard to duplicate the competency for the new industries in the market. but for the existing rivals, there exists only one renowned competitor who is doing same job. Still, they have unlike business goals and aims. Master Card is the processor of the largest number of payments globally whereas Visa is the manufacturer of the highest number of bank cards with the largest number of customers who globally accept Visa. Section 3: Types and Patterns of Innovation The process through which the decision making authority is kept at the top level management is through centralization whereas decentralization involves the decision making to be done at the lowest levels of management. Centralization often comprise of both the geographical performance and to the place where the command over the performances are situated. It means that the operations may take place at a location far away from the head office but the decisions pertaining to the operations are taken in the head office itself resulting to an increased centralization than their physical location would have assumed. With respect to the industries having a number of research and development projects the problem arises whether to have a centralized and decentralized system becomes a complex issue. Decentralizing the RD operations to the different sectors of the industry often leads to innovative process and product which are in terms of the needs of the particular departments. The answers they create are in close relation to the department and the needs of the customers served by them. The projects for development also use the knowledge diversification and contacts in the market that exists in the differen t departments. But there exists a risk for recreating the wheel when the RD operations are decentralized. The repetitive RD operations can be functioned in different departments but the full promise of the technology to generate the value in the other sections of the company may not be found out properly. Moreover, keeping so many RD increases the economies of scale and the curve effects. In the other respect, if an organization undertakes centralization, it can maximize the curve effect and the economies of scale in the RD providing an increased division of labor in the experts working in the RD. The centralization also finds out the new innovations and technologies throughout the organization, increasing the consistency of the organizations new product or service development initiatives. There are certain arguments regarding the centralization and decentralization of certain departments of an organization. The use of decentralized and centralized process for development varies from firms to firms. A study by Tim Opler and Laura Cardinal pointed out that organizations, which are research oriented are more likely to establish individual RD creativity centers to improve the innovation transfers across the departments and also to provide a better communication system. Another evaluation by Peter Golder revealed that during the production customer products, an organization uses more decentralized RD providing projects according to the demand in the local market whereas focused with electronic business positions its RD in the centers of excellence that focused on only providing competencies. A firm with high centralization can able to make aggressive transformations in the direction and due its compact control and command structure helps to implement any changes in the low er levels. The decentralized firms may have difficulties to get cooperation from all the necessary departments for any significant changes. But in case of any environmental or technological changes, the decentralized units respond better as all decisions do not require to be taken permission from the higher level and thus changes are initiated rapidly. Successful procedural innovation can only take place when the partners, alliances and collaborators work closely and efficiently. The ideas created are then re-crafted and then becomes enhanced through inputs form different locations and groups putting in new skills and ideas and experiences. The implementation of PIN and Chip is an exclusive example of how rivals can introduce innovative products in the market. Master Card and Visa are thus can be viewed as firms co-operating before their public listings. It is on the basis of the co-operative entity principles, which are as follows: All the participants should have an equitable hold along with the provision of keeping it open to all knowledgeable participants. The authority needs to be distributive and equitable along with having the maximum possible degree that all the activities need to be voluntary. With respect to the above principles discussed, the US banks have accomplished few things which they would have been able to do on their own without taking such ample risks. The model of co-operation has provided all the banks to monitor and take command of their own products along with having the power to reach the national and compete with the big players like American Express and Diners Club. The organizations competing are not only the participants in need of some level of communication before any creativity can be gained. There exists an interrelationship with the merchants, suppliers, government and the other rivals in the market (Aghion et al., 2016). The First XI study established that the essential elemen t of winning network, a model identified as looking in and looking out. The First XI firms are concentrated in a number of ways, which are as follows: Their main concentration is on their clients to satisfy them. They work in co-operation with the other rivals. They take the initiative of making the future better. They even focus on going outside Australia as well They created a sense of responsibility towards the society. Out of all the points, working in hand in hand with the collaborators is the most important point for creativity and innovation. For example, Macquarie Bank is renowned for its variety of new and improved service and product developments but most of the organizations operations are done along with the joint venture with one or more partners. Though, the payment processing units in Australia had in past shown the capability to join hands to innovate, through the example of introduction of BPAY and EFTPOS in the most recent developmental projects, such projects have faced problems in gaining contracts from the institutions as projected by the postponement of the project BPAY assured that its MAMBO project had been postponed for a twelve month evaluation, during the period when the leading banks asked BPAY to curtail its present developmental rounds of work on the firms initiation and to reanalyze the project in the middle of 2009. The process goes down to how Master Card labs have implemented such innovations. It is often seen that innovations are generated to bridge in gaps in the market or respond according to the needs of the merchant and the consumers. The bigger merchants will thrive for innovations in a respond to increase the convenience, speed and loyalty towards the clients to decrease the expenditure and increase the profit margin. Such an incident is often seen globally in the present. It is thus done through proper business function to implement innovation in electronic payment process as well as finding out the craze for innovation. The payment service providers cannot predict that a creativity service will increase an substantial amount of demand among the customers just due to the fact that the service renders new technological abilities in an innovative way. The next aspect involves the provision of net benefit for a transaction, which mostly the banks and the other financial service providers give implement successful innovation. The creativenesses which need less changes from the known practices have more acceptance than the ones which are new and unknown and thus require a change in the behavior. The use of technologies to induce the existing payment facilities enhances an enterprise to take fruit out of the established practice system known to the customers to decrease their start up costs. The new payment systems usually contend with the older ones for financial resources and to seek attention from the management. The projects, which are long-term, pose a threat to the active business function with respe ct to the profitable debit and credit card activities who may not get the support from the industry due to conflicts among the different departments and having a horizon of short planning. The crucial network and mass effects can postpone the implementation of a cost-effective and useful creativity technique which results to the lock in of the products which are old (Johnston, Marshall, 2016). The crucial step for Master Card was the establishment of their labs, which was a big leap toward undergoing a business renovation. The ability to create new and innovative products efficiently and rapidly is the most vital factor for their success. Industries related to hardware, software, electronics etc often depend on their innovations, which respond to the increase in their sales. The key elements required for an effective product development is maximizing the requirements according to the clients, minimizing the time of production and limiting the development expenses. A new product to be successful in the market needs to offer better quality, attractive features and effective pricing than its rival products. Still many firms fail to maintain these features as they do not have a clear idea of the features the customers prefer or placing the product at a price range thinking that the customers will purchase it because of its new features (Baden-Fuller., Haefliger, 2013). The or ganizations too have problems of resolving the heterogeneity in the demands of the customers as when some customer base requires some other features, the enterprise might create a product compromising among the conflicting demands which results in the failure of the product to attract customer base. Finally an organization with a limited development cycle can quickly transform its product and provides designs which are due to technological advancement. An organization with such a cycle can take the advantage of both the first and second mover. The speedy production of new products also results in the degradation of the quality and poor market introduction (Amit ., Zott, 2012). Such cycles also put extra pressure on the development team resulting to overlooking of the faults in the production process. However, with such risks present most of the analysis have presented that there exists a strong bonding among the commercial success and speed of the new product. Reference List Aghion, P., Nicholas, B., Richard, B., Rachel, G., Peter, H. (2016). Alberts, J., Fry, B.(2015). Is Bitcoin a security? Boston University Journal of Science Technology Law, 21, 121 . Ali, R., Barrdear, J., Clews, R., Southgate, J.(2014a). The economics of digi-tal currencies. Bank of England Quarterly Bulletin, 54 (3), 276286. Ali, R., Barrdear, J., Clews, R., Southgate, J.(2014b). Innovations in pay.Bitcoin and Mobile Payments: Constructing a European Union Framework,7, 293. Amit, R., Zott, C. (2012). Creating value through business model innovation.MIT Sloan Management Review,53(3), 41. Baden-Fuller, C., Haefliger, S. (2013). 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Exploiting niches using relationship marketing.Journal of Services Marketing. Simons, R. (2013).Levers of control: how managers use innovative control systems to drive strategic renewal. Harvard Business Press. Tan, G. W. H., Ooi, K. B., Chong, S. C., Hew, T. S. (2014). NFC mobile credit card: the next frontier of mobile payment?.Telematics and Informatics,31(2), 292-307. Volberda, H. W., Van Den Bosch, F. A., Heij, C. V. (2013). Management innovation: Management as fertile ground for innovation.European Management Review,10(1), 1-15. Ward, J., Peppard, J. (2016).The Strategic Management of Information Systems: Building a Digital Strategy. John Wiley Sons. West, J., Bogers, M. (2014). Leveraging external sources of innovation: a review of research on open innovation.Journal of Product Innovation Management,31(4), 814-831. Yoo, Y. (2013). 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