Traditionally a business owner applies for a bank loan to get funding to fund the startup phase, unfortunately usually banks decline them. An easy option is to use credit instead which provide fast and easy spending ability for a new and growing business. There are good uses of credit cards, there are also downsides. Careful use of credit cards can make them attractive as an option. First, some advantages to using credit cards to fund your business operations: • Easier to get funds • On time payments improve credit scores for the business owners and the business • There are rewards and benefits such as gas discounts, airline miles, cash rebates • Record keeping is easier.
In today’s world, checking and using credit cards online are easy. Many major card offer rewards to businesses. The down fall of using credit cards is that it is more expensive. There is a monthly balance that owners have to pay off. If an owner lacked responsibility than they could face incurring late fees and penalties.
eBay Inc. acquired PayPal in 2002. Since then, PayPal's customer base has grown both on eBay and across e-commerce (cite). eBay use PayPal for one of their payment methods online. System failures for long duration increase operational risk for eBay. In 2008, the eBay.com site has been interrupted for periods as long as 22 hours, and PayPal was unavailable for five continuous days (cite).
Identity Theft: In today’s society there is a white collar crime that has greatly increased in popularity among criminals. Identity theft, causes hundreds of thousands have their identity stolen each year. Identity theft is when criminals obtain and use consumers personal information, such as credit card numbers, bank account numbers, insurance information, and social security numbers to purchase goods or services fraudulently. It has become one of the few crimes that is successful repeatedly and yet it has been ignored by the public. One will shed some light on what many need to know about identity theft but few actually do.
Social security fraud has gone up over the past four years more than 500 percent. This is an astounding number too consider and critics have complained that perpetrators are still treated with more leniency than your common white-collar criminal. Also hard to consider is the fact that one third of those who have been convicted of the crime ... ... middle of paper ... ...f law enforcement. As the crime rate for this offense continues to rapidly grow, law Enforcement officials as well as government representatives continue to target the crime and find ways to stop it. There are many things that officials must consider doing that would help prevent identity theft.
Here are a few reasons why credit cards can be good for you: You can purchase expensive products and services now and pay for them over time. These can include student loans, cars, furniture, electronics and even a home. Credit cards are much easier to deal with and carry around than a handful of dollar bills or a bulky checkbook. When you 're in a rush, credit cards come in super handy. You can make purchases online, such as for plane tickets, hotel reservations, or car rentals, without having to go to the business or speak to a representative in person.
“Target’s customer credit and debit card information of as many as 40 million customers was compromised it was called one of the largest breaches ever of American consumer data.” (Jamieson & Erin, 2013) “The breach captured data stored on the magnetic stripes of the cards that customer’s swipe at the cash register, according to Krebs on Security, a respected data security blog. The breach involved everything from customer names, e-mails as well as mentioned the credit card information including the CVV codes on the back of their cards. The breach occurred during the holiday season of Thanksgiving including Black Friday one of the notorious shopping holidays of the year.” (Jamieson & Erin, 2013) According to an article on Forbes website “The Company moved quite slowly on this breach.” (Burg, 2014) Target was slow to respond to the situation which in turn made people second guess what Target’s priorities were in this incident. It shows that they were more concerned with their image rather than letting the customers know right away. “Customer service lines for the company’s own Target Redcard credit cards were in gridlock.” (Burg, 2014) This means that they weren’t evening addressing the cust... ... middle of paper ... ...-million-passwords-reset/ Jamieson, A., & Erin, M. (2013, December 19 ).
FedEx Supply and demand Primarily working in logistics for the government, we have really shifted into inventory control by shipping items everyday to other units. This helps the government save money when another unit doesn’t need an item at that time. This method also helps us to get something to a unit faster than maybe a company can. When shipping these inventory parts we will use FedEx most of the time. FedEx offers a really easy way of creating labels and setting up accounts, making the process of tracking and shipping easier.
Firms give discounts, because this attracts new consumers, since they are looking for low prices (Parguel, Pechpeyrou, Sabri-Zaaraoui, & Desmet, 2007). Attracting new customers means higher revenues and higher profits. The following task for a firm is to keep customers. By giving loyalty rewards, people will come back to your store. This also creates a disincentive for consumers to shop elsewhere, because they forgo discounts or extra benefits by doing this.
Some of these companies include 7-eleven, J C Penny, Hannaford, Hartland, Jet Blue, Dow Jones, Euronet, Visa Jordan, Ingenicard etc. Over seven years, five Russian and Ukrainian used sophisticated hacking techniques to compromise millions of credit card numbers and bank details. This isolated and unexpected operation spanned across the world and resulted in at least $300 million dollar in losses to organizations as well as individuals. The cyber attacks occurred between 2005 and 2012, and many of them were carried out in 2008 and... ... middle of paper ... ...cle-1.1408948>. Acohido, Byron, and Usa Today.