MAR4203 First assignment

 

  1. Consultation challenge (Individual report)
    One possible job for students majoring in the supply chain is a business consultant. In this class, you will practice how to be a consultant and find practical solutions to real business cases. The context in that you need to provide a piece of advice is digital payment. Nowadays, many companies struggle with the decision to adopt new forms of digital payment (e.g., cryptocurrency).
    A summary of Bitcoin
    Cryptocurrency refers to digital currency with encryption techniques to regulate the generation of each currency unit and verify the transfer funds. A form of cryptocurrency is Bitcoin (a peer-to-peer electronic cash system), which was created in 2009. Bitcoin transactions are verified by each computer in the network and recorded in a blockchain. As the first decentralized digital currency, Bitcoin was also the most popular one. In the meantime, hundreds of cryptocurrencies, including Ethereum, Ripple, and Litcoin, also emerged.
    As an exchange medium, Bitcoin reduced the cost of transactions. With a decentralized peer-to-peer network, transactions are conducted directly between two parties, verified across the network, and do not need a third party for clearing and settlement. The absence of intermediaries means that transaction costs can be kept to a minimum. Encryption algorithms are used to mask users’ identity in the Bitcoin blockchain, which, along with the feature of immutability, have made Bitcoin more robust against hackers’ attacks. The greater transparency and enhanced traceability of Bitcoin also result in better accountability, as transactions are effectively achieved across the network and left a digital trail. Blockchain allows users to mask their identity with numeric identifiers (also known as Bitcoin addresses, akin to one’s email address). Users mostly remain anonymous during transactions, which helps to protect their privacy online. However, law enforcement agencies have the ability to trace Bitcoin transactions by matching the numeric identifiers with user information.    
    Now, please read the following article to get more information about this consultation session and also different forms of digital payments:
    Beyond Bitcoin: What Blockchain and Distributed Ledger Technologies Mean for Firms ( https://www.sciencedirect.com/science/article/pii/S0007681319300023?casa_token=TX4vtt68W6wAAAAA:CktStN8wgj7ooppQQfkJ-RiG04KL6zBdIRkvGtkbrzNZCSBpP5hJrwoHyUbIjsu3G8JLb725nRo)Scenario
    A company is a leader in supplying low voltage cables, connectivity products, infrastructures, and accessories. The managers have a number of options in order to handle financial transactions with their suppliers, distributors, and customers. For instance, currently, they accept:
    • Credit and debit cards
    • Paypal
    • Google wallet
    • Amazon payments
    • Apple pay
    • Recently, their most profitable customers adopted Bitcoin, and they desired to pay in Bitcoin largely. The managers of the company are not aware of Bitcoin's characteristics, advantages, and disadvantages. Moreover, the other main competitors have not used Bitcoin in their financial transactions. The managers invited two consulting companies to first understand what Bitcoin is and then decide to adopt it or not!
      Today, the two groups from two professional consulting services in Florida are invited to the company’s headquarter in Miami.
      About the two groups:
    • One of them thinks that the company should modify its regular financial policies and adopt Bitcoin not only to deal with the mentioned customer but also with other companies and customers.  (consultant 1: For Bitcoin)
    • The other one believes that Bitcoin is still in its infancy, other competitors have not used it, its transactions are still risky, and the public awareness about digital currency (e.g., Bitcoin) is very low. (consultant 2: Against Bitcoin)
    • Both consulting teams are trying to give enough evidence and facts to convince the managers to adopt/ reject bitcoin. First, consultant 1 offers reasoning, facts, analysis, statistics, industry trends, and justification to convince the company to adopt and use Bitcoin. Second, consultant 2 presents some reasoning, facts, analysis, statistics, industry trends, and justification to convince the company to reject Bitcoin.
      Now, you need to pick one of these consulting teams (1 or 2) and imagine that your team plays the role of that consultant in that meeting. If you think the company should adopt Bitcoin select consultant 1, otherwise select consultant 2. 
      If you pick Consultant 1, please include:
    1. ALL reasons, facts, and analysis you will use to convince the managers of the company to adopt Bitcoin in their transactions. In your report, you need to describe at least 7 points as the main facilitators or advantages of using Bitcoin (as a cryptocurrency).
    2. What do you consider as three key risks or barriers associated with Bitcoin? Explain those factors too.
    3. Moreover, in the last two paragraphs, compare and contrast possible advantages with risks and compose your final reasoning and justification on why the company should adopt Bitcoin?
    4. If you pick Consultant 2, please include:
    5. ALL reasons, facts, and analysis you will use to persuade the managers of the company to refuse Bitcoin in their transactions. In your report, you need to describe at least 7 points as the critical barriers or disadvantages of using Bitcoin ( as a cryptocurrency) in current business transactions.
    6. What do you consider as three key facilitators or benefits associated with Bitcoin? Explain those factors too.
    7. Moreover, in the last two paragraphs, compare and contrast possible advantages with risks and compose your reasoning and justification on why the company should not adopt Bitcoin?
    8. Important Note
    • This activity counts for 30% of your final grade.
    • Well-written, complete, accurate, and innovative reports will get full marks.
    • This is an individual assignment; each student should submit this report individually.  
    • Deadline: June 15th, 11:59 pm.
    • What to include in your report
    • Length: Minimum three-page report 
    • The font should be Times New Roman 12pt and double-spaced
    • Format
      • Introduction – offers a brief, clear explanation of the scenario and identifies which position/consulting team you chose
      • Body – describes the advantages and disadvantages of adopting or rejecting Bitcoin from the perspective of your chosen consulting team, presenting facts, analysis, statistics, and industry trends
      • Conclusion (two paragraphs) – offers convincing reasoning and justification for the company to follow your recommendation regarding the adoption or rejection of Bitcoin.
    Get 20% Discount on This Paper
    Pages (550 words)
    Approximate price: -

    Try it now!

    Get 20% Discount on This Paper

    We'll send you the first draft for approval by at
    Total price:
    $0.00

    How it works?

    Follow these simple steps to get your paper done

    Place your order

    Fill in the order form and provide all details of your assignment.

    Proceed with the payment

    Choose the payment system that suits you most.

    Receive the final file

    Once your paper is ready, we will email it to you.

    Our Services

    Ace Writing Center has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

    Essays

    Essay Writing Services

    At Ace Writing Center, Nowadays, students normally have extremely busy schedules. You will note that some of them have to take on some evening or weekend jobs in order to get some income that can help them to sustain in college or in the university. This can deny them a chance to write all the essays given. Others usually get bombarded with a lot of work by their lecturers. This can still delay such students from working on all their essays. However, some of them usually try to work on all these essays but end up delivering their work late. This can prevent them from graduating since most lecturers are strict on deadlines. If you want to write a business essay, the wise way is to hire an outstanding essay writing service like us, so that you can get the best results. If you are keen, you will note that many companies usually overcharge their customers. Some of them are there only to make money. And in reality, they really don’t care to build a long term commitment with students. You should not choose such companies. You should take your time and choose a reliable company to work with. Ace Writing Center is the ultimate solution for you. We have been offering our writing service for more than 7 years. This is a clear indication that you will get quality essay writing service. We have a wide range of writers who can work on any business essay that you might have. We believe in doing extensive research so that we can provide quality work to all our clients. .

    Admissions

    Admission and Business Papers

    Have you ever had to write an admission essay for college? The majority of students face the same issues when applying to a university or college and many in such situations decide they need professional help to cope with this matter. They get in a situation when the deadline keeps coming closer but lack motivation to start because they are just not sure if their writing skills are strong enough. We have a solution for you! Ace Writing Center is the best admission essay writing service with a large professional team and years of experience in providing high-quality papers to students of all levels and faculties. The mission of our team is to help students make their dreams of entering a good college come true and that’s what we offer!.

    Editing

    Editing and Proofreading

    Sometimes all the words for your paper just flow out of your mind and into your fingers. You type quickly at your keyboard and there they are, your beautiful words right there on the screen. But you have no idea how to polish it up. You may be wishing there was a paper writing service that offered this type of writing service. Look no more! Here at Ace Writing Center, we offer you an editing and proofreading option that you can't find anywhere else..

    Coursework

    College Essay Writing

    In case you are familiar Ace Writing Center, you know the way to distinguish a better company from a cheap one exactly. First of all, poor service website does not have a sufficient support. We think support team is an essential part of success; it has to answer all clients’ questions and be a connecting link between clients and their writers. On our web-service you will get answers about anything you need and your writer will receive all your instructions, assignments and requirements exactly and swiftly. A writing service that we run has got a flexible pricing system that will save you from senseless wastes and many bonus systems that let you sparing money for something important for you.