The Challenges of Trust Management

In: Computers and Technology

Submitted By timj
Words 1312
Pages 6
The Challenges of Trust Management Your Name CMGT/430 July 10, 2011

Distributed Trust Management
What is distributed trust management? Why do business-to-business (B2B) companies like EBay and PayPal have such profitable success with online transactions? Do people trust business-to-consumer (B2C) methods? Have intra-enterprise applications matured to the level of satisfaction that company executives come to expect? These questions are at the forefront of consumers and business minds alike. This paper will focus on the ideas and cornerstones that inter-organizational companies rely upon; namely, trust. All of these questions boil down to trust and the business models we, as a community, have come to expect. The definition of trust, as it relates to the enterprise, is explained this way: A type of expectation that alleviates the fear that one’s exchange partner will act opportunistically (Aoyama & Ratick, 2007). Ratnasingam & Phan define trust as “A psychological trait found in trading partners who are willing to pursue relationships or interdependencies to achieve a planned goal” (Ratnasingam & Phan, 2003). Trust within the business realm becomes something that is taken for granted if there are no checks and balances between both organizations. One has to be careful not to abuse the trust given to a specific company like Cisco Systems or Amazon. Maintaining a competitive and working relationship is paramount to the success of online businesses like PayPal and Amazon. These companies rose up from the dotcom balloon burst to take the world by storm. One way they were could gain such vast popularity is through online transactions.
Online transactions helped smaller businesses gain a foothold and obtain storefront advertising via companies like Google and Amazon. These companies, in turn, used secure online…...

Similar Documents

Management Challenges and Concern Reports

...Management Challenges and Concerns Report Julie De La Mora University of Phoenix HRM/498 Strategic Human Resource Management and Emerging Issues September 10, 2012 Jacqueline Crawford Management Challenges and Concerns Report Though it may be an employer market; still it is not a relaxed period for Human Resources Managers. A feeble economy makes it challenging to keep a strong work force. Even though the unemployment rate is at its highest, businesses have experience difficulty to find competent job seekers for particular responsibilities. Staying Connected with New Talent To connect with new and young talent, numerous businesses have increased a presence in social media platforms. Many companies have established Facebook and LinkedIn accounts to connect with prospective employees; few of them have even created specific accounts to attract their young employees to share their working experiences and how satisfied they are with their employers. For example they can share information about its internship programs, how the CEO’s mission and vision is viewed and keep informed on daily bulletins. Half of the population in the United States is younger than 30 years old and Human Resources managers need to be very cognizant of what the younger people want and need from a career in the......

Words: 540 - Pages: 3

Management Challenges and Concerns Report

...Management Challenges and Concerns Report HRM 498 August 26, 2013 Management Challenges and Concerns Report Human resources planning is the process by which management figures out how to move businesses forward from its current position to the aspiration future placement. Effective planning will result in the organizational management developing the right kinds and right number of people doing things that result in the worker and the organization having maximum long-run benefits. Establishing objectives and following through by developing and implementing programs such as appraising, staffing, training, and compensating to ensure that people with the right characteristics and skills are available when and where the organization needs them. A major objective of human resources planning is facilitating business effectiveness. Human resources departments need to analyze data that may need to guide any age groups for future years. Organizations need to know what direction they are headed. Demographic areas also have implications for managing human resources. One of the most disturbing problems for the resolution of company issues is the caliber of the person hired to be the human resources manager or specialist. For any human resources employee, the level of the human resource employee needs to be beyond reproach. The duties of the human resources manager are so vast because they touch every department within the organization. Based on this, the human resources......

Words: 579 - Pages: 3

Financial Management Challenges

...Financial Management Challenges David Meszler BUS 650 Managerial Finance Prof. Kevin Kuznia July 29, 2013 To understand the challenges that face a financial manager today it is important to understand the general characteristics of market structures and the impact of market liquidity, competitiveness, and efficiency on financial managers. Clarifying market structures will show the basic constructs that financial managers work under. With the basic understanding of market structures and how they influence financial managers or how financial managers influence their given market structures we will identify two problems that are faced in current markets chosen from two Proquest articles, the first problem discussed will be communication issues and we will follow that up with a larger issue, the global economic recession. In discussing these issues we will also hit on how managers can possibly address those issues according to those articles. Market structures are fundamental in understanding how the economy works and how goods and/or services are exchanged. There are four basic market structures; perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is when there are numerous sellers with no difference in the product, no cost to enter or exit the market, and there is no influence on price. The most common type of market structure is a monopolistic competition market. In this type of market there are numerous sellers with......

Words: 1113 - Pages: 5

Strategic Management Report - Fsl Trust

...Strategic Management Report | First Ship Lease Trust (“FSL Trust”) - Singapore | Charl Maingard – CT0209461 | Contents Company Profile 2 The General Environment of FSL Trust 2 Industry Competitiveness – Where does FSL Trust stand? 4 Summary of Industry Competitiveness for FSL Trust 5 Internal Environment Analysis 5 SWOT Analysis 6 Conclusion 6 Recommendations 7 References 8 Company Profile First Ship Lease Trust ("FSL Trust") is a Singapore business trust that provides lease financing solutions to the international maritime industry. FSL Trust currently owns a diversified portfolio of 25 vessels with an average age of eight years. FSL Trust derives stable long-term cash flow primarily through leasing its vessels on long-term bareboat charter, spot charter or time charter basis to international shipping companies. The Trust has a diversified portfolio of 25 modern and high quality vessels, comprising seven containerships, 11 product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. Date Established 2007 Listed in SGX 2007 ADR quoted on OTCQX  2008 Corporate HQ Singapore Vessel Flags * Singapore * Bahamas/UK * Liberia * Marshall Islands /Cyprus * Panama Shipping sub-sectors * Crude Oil Tankers * Petroleum Tankers * Chemical Tankers * Dry Bulk Carriers * Containerships ...

Words: 2648 - Pages: 11

Management, Challenges for Tomorrow's Leaders

...need order for us to survive. Without order there would be total chaos. If we are radically free to act independently of determination by outside influences then it would mean that we would totally ignore the feelings and views of others and also rules and laws which ultimately make our world a better place. The first sign that existentialism is a protest philosophy is the fact that most existentialist thinkers are atheists (people who believe that there is no God). The atheist views go against most of what society holds to be true. The majority of existentialists believe that we came from nothingness, created our own nature, and that we created the Christian God within our minds to attempt to answer some of the questions that pose a challenge to our own existence. One of the founding father of Existentialism, Soren Aabye Kierkegaard, theorized that the human being exist to commit themselves to some course of action that defines their existence. For Kierkegaard, existence is not a passive state but rather an active engagement with the world and with one’s life. The most important part of Kierkegaard’s philosophy is the basic stages of personal development: * The Aesthetic Stage * The Ethical Stage * The Religious Stage In the first stage a person experiments with different beliefs but never fully commits to them. In the second stage a person does commit and does act decisively, but on what presumed to be rational grounds. In the third and final stage a......

Words: 2544 - Pages: 11

Challenges of Strategic Human Resource Management

...Challenges of Strategic Human Resource Management Name: Course: Tutor: Date: Abstract Human resource management has become very important in modern organizations and this is because the knowledge-based economy of today requires that employees contribute their ideas and be actively engaged in the execution of company strategy. Because of this, it has become a strategic partner through the identification of skills needed by employees and the consequent provision of employees with the structures and training required to deploy and develop those competencies. All human resource elements including selection and placement, job design and compensation thus have to be aligned with the strategies of the company so as to ensure that only the right employee is hired for the right job and consequently properly rewarded for their input and contributions to the furtherance of the company objectives. Strategic human resource management is therefore a key element in the overall strategic management of a company. This is however not been without challenges. This paper discusses the challenges experienced in the execution of a strategic approach to human resource management. Functions of the Human Resource Department Apart from ensuring compliance with the rules and regulations, human resource management has various elements including workforce recruitment and planning, induction, orientation of new employees, training, appraisal and administration (Dessler...

Words: 2876 - Pages: 12

Global Challenges of Human Resources Management

...Resources Management (HRM) challenges to businesses especially those operating across national boundaries as multinational or global enterprises. Global business is characterized by the free flow of human and financial resources especially in the developed economies of European Union (EU), the North American Free Trade Agreement (NAFTA), other regional groupings such as the Association of South East Asian Nations (ASEAN), the Economic Community of West African States (ECOWAS), the Southern African Development Community, etc. (Schuler, R.S & Tarique, I. & Jackson, S.E, 2002). J.P. Morgan is a leader in wholesale financial services, offering intelligent solutions across one of the most comprehensive global product platforms available. JPM keep client objectives foremost important, fostering long-term relationships. This combination of product strength, intellectual capital and character sets the firm apart as an industry leader. I was working at JPM Israel last year and have a lot of knowledge from the inside. I was part of the Investment Banking at the Israeli JPM which is a representative branch that has been committed to serving clients and has key relationships with governments and top financial and corporate institutions. We offer the full spectrum of investment banking services to our clients, including M&A advisory, capital raising and risk management, as well as sales, trading and research. In this paper, I will evaluate aspects of the challenges......

Words: 1775 - Pages: 8

Td Canada Trust Customer Relationship Management

...TD Canada Trust:   Managing Customer Relationships                 November  18,  2014     ADMS  4255     Prof.  Marius  Dobre                                                 Burhanuddin  Ameen     Gaggan  Sahota     Nihal  Ahmed     Alvina  Ali     Siqi  Sun     TABLE  OF  CONTENTS   EXECUTIVE SUMMARY ..............................................................................1 PROJECT OBJECTIVE ...............................................................................1 SITUATION ANALYSIS ...............................................................................1 FRAMEWORK .............................................................................................2 FINDINGS ....................................................................................................3 Exemplars ................................................................................................................... 3 Identify ...................................................................................................................... 3 Differentiate ............................................................................................................... 4 Interaction ..............................

Words: 4378 - Pages: 18

Time Management Challenges

...Time Management Action Plan Time Management Action Plan Supervisors personal skills |  Supervisors personal skills |  Learning plan 2.3 ann hall Learning plan 2.3 ann hall 2016 2016 Do one thing at a time #16 Doing one thing at a time is not a very good skill for me. On a scale from one to ten and one being the worst I would have to say that I am at a two. For me that means I have no clue what that even means any more now that I have children. I have three children, go to school and work two jobs. Don’t get me wrong I would love to be able to only do one thing at a time but it seems to be impossible with what all I have to deal with and do in a days’ time. With that being said if I ever wanted to do one thing at a time I would have to learn how to do it all over again and get out of the mindset that I need to get everything done and get it done right away. I am willing to try to learn it all over again but chances are I will have to practice when the kids are not home so I do not get distracted. The other thing is I need to not watch tv when I am doing other tasks or even doing homework. This would be the biggest problem for me is always having the tv on where ever I am at. * Switching between tasks takes time even if we are not aware that it does and what our minds are required to do (page 75). It also says in some cases multitasking can be very dangerous (page 76). Chances are you can and will get more done and be safer if you just focus on one task......

Words: 3092 - Pages: 13

The Future Challenges of Healthcare Management

...THE FUTURE CHALLENGES OF HEALTH CARE MANAGEMENT Timan Wainaina Essay March 5, 2016 Health care management denotes the management of clinical information technology and human resources to deliver optimal health care. The health care sector is a very extensive one because it encompasses preventive care, emergency services, follow-up, and rehabilitation. Forecasting the future of health care may be seen as an imperfect and challenging exercise. However, it is important in order to improve quality health, revenue, reducing expenses, and improving customer satisfaction. Based on past experiences, the health care industry is on the brink of an inevitable change. This essay examines some of the trends that are likely to pose future challenges to the delivery of health care throughout the world. The first threat likely to be encountered by the sector is the rising health care costs. The costs are expected to hit the roof due to increased expenditures in the sector. Some of the dynamics that may lead to an increase in health care expenditure include a rise in the number of medical practitioners’ remunerations and increased state budgets for financing......

Words: 623 - Pages: 3

Trust Management for Wsn

...Technology- volume3Issue2- 2012 Behaviour based Trust Management using geometric mean approach for Wireless Sensor Networks Ch.Satya Keerthi.N.V.L*1, A.Manogna#2, Ch.Yasaswini#2, A.Aparna#4 , S.Ravi Teja#5 * Lecturer, Department of Information science and Technology # Department of Information science and Technology, KL University, Guntur – 522 502, Andhra Pradesh, India Abstract — The resource constraints of Wireless Sensor Network (WSN) make it easy to attack and hard to protect. Although carefully designed cryptography and authentication help to make WSN securer, they are not good at dealing with compromised node and ageing node, whose misbehavior may impair the function of WSN. Hence, they are not sufficient for secure routing of message from source to destination in WSNs. Alternatively Trust management schemes provide a powerful tool for the detection of unexpected node behaviours. A solution is obtained by first figuring out the malicious nodes in the network and then separating them from the benevolent nodes present on the basis of trust levels assigned. In this paper, we propose a new Trust Management System by considering the behaviours of sensor nodes, direct and indirect trusts based on Geometric Mean (GM) of the QoS characteristics (trust metrics) among the nodes, which allows for trusted nodes only to participate in routing messages. Keywords—Wireless Sensor Network (WSN), Geometric Mean (GM), Trust Metrics, Quality of Services......

Words: 4339 - Pages: 18

Challenges Facing L'Oreal Management

...L'Oreal: Knowledge Management Using Microsoft SharePoint. Hand in 9 & 11 13 April 2016 Tags: Global brand coordination; sharing business knowledge; collaboration and coordination of effort worldwide; enabling a single community; ease of integration with desktop MS Office. Summary L'Oreal decided to use Microsoft SharePoint server to create a global knowledge management and collaboration platform. The system runs on a corporate intranet called M@sternet that spans the globe and coordinates the work of hundreds of teams in over 150 subsidiaries. URL:http://www.youtube.com/watch?v=8MvWkDXFz0w&NR= Case "The L'Oreal Group is the world's largest cosmetics and beauty company. It is headquartered in the Paris suburb of Clichy, Hauts-de-Seine, France. 96% of L'Oreal revenue is generated from cosmetics, from hair colour products to skin care, sun protection, make-up, perfumes and hair care. L'Oreal also is active in the dermatological and pharmaceutical fields. The company was founded in 1907 by Eugene Schueller, a young French chemist, who developed an innovative hair-colour formula. In 1920, the small company employed three chemists. By 1950, the research teams were 100 strong; that number reached 1,000 by 1984, and is nearly 2,000 today. While L'Oreal got its start in the hair-colour business, the company soon branched out into other cleansing and beauty products. L'Oreal currently markets over 500 brands and many thousands of individual products in all sectors of the......

Words: 844 - Pages: 4

Challenges of Performance Management in Nursing

...CHALLENGES OF PERFORMANCE MANAGEMENT IN NURSING INTRODUCTION An effective employee is a combination of a good skill set and a productive work environment. Many factors affect employee performance that managers need to be aware of and should work to improve at all times. These include a lack of recognition of employees who are performing well, quality performance outcomes and an absence of a formal performance management system and poor working conditions (Awases, Bezuidenhout & Roos, 2013). Over the last 20 years, a number of strategies aimed at improving the job performance of health workers have been implemented in low and middle-income countries (LMIC) (Marchal et al. 2012). Each strategy has had its specific perspective and focused on one particular issue: quality improvement, performance management, building learning organisations, innovation diffusion, to mention but a few (Chopra et al. 2008). While success has been reported in some cases, there is increasing acknowledgement that to improve performance of health workers especially nurses and health care organisations in general, approaches that deal with one problem, mostly fall short or obtain only short-term results (Marchal et al. 2010). The concern about shortage of nurses and it potential effect on quality of nursing care rendered as well as the mounted public urge on quality and excellent performance in the health sector mandates the Human Resource Management as part of their core function to ensure that......

Words: 2800 - Pages: 12

Future Challenges for Healthcare Management

...Future Challenges for Health Care Management The scope of health care management encompasses administrating how services get delivered to patients, persons delivering services, locations to which services get delivered, and the financing of all involved procedures. In these, institutions like nursing homes, rehabilitation centers, public hospitals, and private clinics get involved. At the same time, groups of service providers and associations play instrumental roles in controlling the quality of services and procedures of implementation (Gururajan, 2012). Thus, health care management encompasses the organization and administration of individual physicians, associations, involved institutions, and control of funds. Quintessentially, the challenges that affect the health care industry concern the functionality of one of these elements. It is worth noting that the industry has continuously faced various challenges related to diseases, aging, health care insurance, and human resource limitations (Benington, 2014). The future challenges for health care management include securing adequate finances for health care operations, training adequate human resources, managing an increasingly aging population of patients, and controlling emerging chronic diseases. Despite the fact that most world economies have grown substantially, health care sectors have remained underfinanced across the world. Perhaps, the nature of services in this sector requires large recurrent amounts of money......

Words: 716 - Pages: 3

Top Five Management Challenges

...or time line. A project that is critical today may not be as important tomorrow and the project manager may be told to put it aside for a while and work on the newer priorities. A change in top management is another factor to be considered. This could result in change in priorities, direction of expansion and other efforts. The project manager has little control over these occurrences. Hopefully, the project has a clear process for managing project changes. There are always ways to reduce the impact of the changes by informing the teams, concentrate on executing the change, revise schedules and budget, revise project plan, and making sure there is a signed project scope etc. 3. LACK OF MANAGING PROJECT OR PROJECT OR PROJECT NOT WELL MANAGE Things were done one way and now are done different. A new approved scope statement and project plan initiates a request for change when there is a need to modify the agreed-upon project scope defined. Scopes often require adjustments to cost, time, quality, risk or other project deliverables. These changes must be put back through the planning process, updating plans or needed to bring expected future project performance into line with the project plan. There may be issues that the project manager and or team will face the management of project change, which could lead to an inability to manage project change. Some issues are: a) The project team does not recognize that a change has occurred and permit schedule and budget...

Words: 871 - Pages: 4