Donald J. Trump Essay Example for Free

Donald J. Trump Essay Donald John Trump is a real-estate developer who shot to international fame after his hit television series â€Å"The Apprentice†. The best-known facet of his life also happens to be the most motivating one How he bounced back from bankruptcy to being a billionaire again, through a very innovative idea. Donald Trump was born on 14th June 1946 in New York (Allen 2007). The son of billionaire real-estate businessman Fred Trump, Donald Trump or â€Å"The Donald† as he is popularly known, was born with the proverbial silver-spoon in his mouth. After finishing his schooling from the military academy he entered the Fordham University. He went on to study Economics at the Wharton School of Finance, at the University of Pennsylvania. After finishing the college education in 1968, Donald Trump started his career at the Trump Organizations, owned by this father and started assisting him in his business (AE Television Networks). He worked with his father for five years. During this time he made several successful business deals but was disillusioned by the low-profit margins. He shifted his base to the more affluent Manhattan in 1971, to make higher profits and also gain public recognition. He hobnobbed with many rich and influential people and built a niche market around them, by making properties having unique architectural designs. He focused on exclusivity instead of cost-saving schemes, which was the mantra for the builders at that time. His name is associated with the most influential and posh addresses like the Fifth Avenue skyscraper, Trump Tower; the luxury residential buildings, Trump Parc, Trump Palace; Trump Plaza, 610 Park Avenue, The Trump World Tower and Trump Park Avenue. He was also the owner of many hotels like Plaza Hotel, the St. Moritz Hotel, Trump International Hotel and Tower etc. (http://www. nbc. com/nbc/The_Apprentice/bios/Donald_J. _Trump. html) However, the recession times in the 1990s saw a sharp fall in the real estate market. His net worth fell from $1. 7 billion to $500 million. When he was unable to pay a $2 billion bank loan, creditors seized his assets. This left him with about $900 million in personal debt and approximately $3. 5 billion in business debt (Allen 2007). This made him declare bankruptcy. He could bail himself out only when his father died in 1999; and real-estate business was sold. He bounced back both financially and publicity-wise via the reality telly-show â€Å"The Apprentice†. Currently his financial worth is estimated as close to 2. 5 billion dollars, and his catch phrase â€Å"You are fired† is embedded firmly in the minds of the public (http://www. atouchofbusiness. com/business-topics/success-stories/business-leader-trump-0006. html) The huge popularity of the TV show and the financial success it brought enabled Trump to venture into other fields like clothing Trump Mens Collection, magazine Trump Magazine, liquor Trump Vodka, tours – online portal named GOTrump. com, and even education when he opened Trump University in 2005 which offers a degree in business . Personality Traits Donald trump sets himself apart from other people in his leagues purely due to the sheer force of his personality. While his flamboyant nature and his many associations with women have gained him a lot of notoriety, no one can deny that he possesses ‘something’ which sets him apart from other rich people. This has made him make a brand name which sells many businesses including the very successful television series and the many books he has written on his life experiences and means to gain success. One of the most obvious traits he has is intelligence. This does not merely mean possessive a superior technical or business mind, it also points to the amount of calculated risks he has taken over the years and succeeded. While seeming to always go against the flow, his decisions in retrospect always seem to be the most logical way to succeed. As Columbus once said when to his detractors â€Å"Any one would have found newer lands, I thought of it first! † Another obvious trait he possesses is confidence, which shines through all the situations he has faced. For instance, his shifting to Manhattan would have been pointless is he could not get into the inner circles of the rich and famous people in New York. Though he was almost broke when he went to Manhattan, it took him no time to charm the committee people in many exclusive clubs to give him contracts (Biography Channel 2007) Still another trait that has helped him to get past difficult situations is his immense determination to succeed. The adverse situations have merely spurred him to think of unique, away from the stream, way to bounce back. In addition to his many businesses, he also a philanthropist who believes in uplifting the society where one lives. He is associated with many charities and donates generously to social causes. He also has a very charming personality which is probably the main reason for the huge success of his television show. Skills and Strengths Donald Trump in addition to having distinctive personality traits also possesses certain skills that have helped him succeeding in his various ventures. Even in the very early days of his career Trump was known for his consummate skill in making business deals. In fact his father often said that, â€Å"some of my best deals were made by my son, Donald everything he seems to touch turns to gold. † (NetGlimse 2007) He made his first successful deal at the age of 25, when he bought property off a transportation firm which was having financial troubles and sold it to the government. His negotiating skills often allowed his firm to secure loans with little collateral (Allen 2007) He is also an opportunist and is known for spotting successful business opportunities. As an example, while the real-estate business of his father was doing fairly well Donald chose to move his focus from their traditional business of middle-class rental housing to commercial real estate development (Allen 2007). In addition, he also decided to shift the business from Brooklyn to New York which the rich and famous lived. He is known to be a very successful self-promoter, which has led him to become a very successful brand name. From the buildings he has built which bear the Trump name to constantly telling potential ‘apprentices’ that the way to succeed is to be like him, he is carved out a public image in the minds of the people as a cocky, arrogant but immensely successful personality. He has cashed on this celebrity status to sell many books which also bear his name like â€Å"Trump: The Art of the Deal†, â€Å"Trump: The Art of Survival†, â€Å"Trump: Surviving at the top†, many of which have been best sellers. (http://www. nbc. com/nbc/The_Apprentice/bios/Donald_J. _Trump. html ) Leadership in situations As Donald Trump’s television show preaches – leadership is the name of the game. The word leadership means different things in different situations. Trump’s unique leadership qualities make him a cut different than others. For instance the very essence of leadership is having the conviction and guts to take on risks and few have taken risks which Trump has taken. As mentioned earlier in the report Trump was almost broke when he decided to venture into the real estate business for the rich and famous. It was a bold decision to take on especially considering the fact that the immensely rich people do not really allow any outsider to enter their circles, let alone a person who is not of their social standing. That his business was worth billion in a few years span shows how right he was in taking the risk (Chandy 2007) Another important leadership quality is the ability to capture the attention of people positively. Needless to say the huge popularity of his show, demonstrates that he does have this quality which makes people sit-up and take notice. Successful leaders also take responsibility of their actions and have absolute control over decisions. Again as mentioned earlier in the report each of the ventures of Donald Trump unmistakably have the imprint of his persona, not to mention his name. He does not believe in passing around the blame to others when decisions do not gain expected results. Leadership Outcomes The phenomenal success of the â€Å"The Apprentice† is due to the person who has conceptualized the show i. e. Donald Trump. The way the show is run clearly points his personality. The contestants are judged on a weekly basis and there are no appeals to the finals decision. In his words I mean, theres no arguing. There is no anything. There is no beating around the bush. Youre fired is a very strong term. Even the contestants are usually asked to stand up for themselves, which in itself means being leaders (NetGlimse 2007) Leadership also means facing challenges head on. This is evident in Trump’s decision to sell of his family business to bounce back from bankruptcy. There are times when an unsavory decision might be the best decision to overcome a situation. Trump would have to fend off creditors indefinitely if he had not decided to sell off the business. Another leadership trait which Trump possesses is the conviction in his decisions. He has succeeded in making many complex business deals due to this trait. For instance, when Trump moved to Manhattan, he decided to try his hand into building luxury hotels. With this view, in 1974 Trump focused his attention The Commodore. This hotel was unprofitable, but was very centrally located. He managed to convince Hyatt Hotel Corporation to enter into a business deal concentrating on the fact that Hyatt did not have any manor downtown hotels. He also managed to successfully arrange financing for this venture and proceeded to completely renovate the hotel. The hotel was renamed The Grand Hyatt in 1980, and became very popular, making Trump the city’s best known and most controversial developer (AE Television Networks). Conclusion Donald Trump is many times seen as a self-promoter whose proclamations are not credible. In fact people even question his present worth of 2. 7 billion dollars (Allen 2007). However, no one can question the success he has gained through his unique qualities as a pioneer in many types of business. His business decisions have been maverick and controversial but have been hugely successful. He believes in leading by example, which is the chief draw factor of his reality television show. Although his self-promotion comments can be termed as immodest, people modeling themselves after him would immensely profit from his no-nonsense attitude and self confidence. These are the two major qualities leaders need when they are dealing with others if they do not wish to be pushed around by other people. There are many books what preach about the qualities of the leader in a very idealistic way; however people can rarely succeed following only idealistic principles of anything. Another thing which can be learnt from Trump is his â€Å"Never say die† spirit. Every time he come up with an adversity, he just sees it as a means to demonstrate his skills to find a unique solution to the problem. In conclusion, the personality traits of Donald Trump which are mentioned here are the true reasons for his success. While these traits may not make everyone a billionaire, they will surely make people a much confident and self-assured person. References Allen S, â€Å"Donald Trump Billionaire Real Estate Tycoon and Host of The Apprentice†, 2007, New York Times Company http://entrepreneurs. about. com/od/famousentrepreneurs/p/donaldtrump. htm AE Television Networks, â€Å"Donald (John) Trump Biography (1946-)† 2007, http://www. biography. com/search/article. do? id=9511238page=1 Biography Channel â€Å"Donald Trump†, 2007, http://www. thebiographychannel. co. uk/biography_story/1123:1290/1/Donald_Trump. htm Chandy A, â€Å"Donald Trump Biography†, 2007, http://www. buzzle. com/editorials/4-28-2005-69193. asp â€Å"Donald J. Trump as Executive Producer/Host†, 2007, http://www. nbc. com/nbc/The_Apprentice/bios/Donald_J. _Trump. html A Touch of Business, â€Å"Donald J. Trump The Business Leader Who Thrives on the Art of the Deal†, 2007 http://www. atouchofbusiness. com/business-topics/success-stories/business-leader-trump-0006. html NetGlimse, â€Å"Donald Trump-Biography†, 2004, http://www. netglimse. com/celebs/pages/donald_trump/index. shtml

The Outsiders :: essays research papers

The Outsiders   Ã‚  Ã‚  Ã‚  Ã‚  In the book the Outsider by S.E. Hinton Ponyboy is the main character, in the book he is mostly referred to as Pony. Pony has two brothers, Sodapop and Darry. Pony is fourteen and doesn’t have any parent’s, they died in a car accident. Pony and Soda and Darry all live in the same house, with Darry and Soda supporting them. He has long black greasy hair, he has hair like that because most of the people do in the gang their part of the â€Å"Greasers†, and it probably fit with the time period, the fifties. Pony’s best friend Johnny who is also part of the gang; theâ€Å"Greasers† that includes most of the kids that live around their part of town including Soda and Darry. Pony being part of the Greasers hates the Socs, short for socials; in the beginning the socs beat Pony for no reason just because he didn’t dress like them or have money like them. The Socs are basically rich kids that dress nicely and beat the Greasers up. So far everyone likes Pony except the Socs. Pony is unlike all the other Greasers because he likes to watch movies and read books and look at the stars at night. The other Greasers don’t give him a hard time about it sometimes they’ll even go to movies with him and look at the stars with him. Towards the end of chapter two Johnny, Pony, and Dally, (another one of the guys in the Greasers), met Cherry and Marcia. They were two girlfriends of some Socs that they met at the drive in movie theater. At the end of chapter three Johnny, Pony, and the girls were walking home when their boyfriends pulled up and started trouble with Pony and Johnny. Johnny got beat up really bad by the same guys before so he wasn’t going to take any chances so he pulled out his switch blade and Soda had a broken bottle, but nothing happened except the girls went with the Socs so there wouldn’t be any trouble.

Turkle and Gopnik

Connecting points for Turkle and Gopnik â€Å"What changed? That James story helps supply the key. It was trains and telegrams. The railroad ended isolation, and packed the metropolis with people whose work was defined by a complicated network of social obligations. â€Å" (Gopnik 157). | â€Å"She confined that she would trade in her boyfriend ‘for a sophisticated Japanese robot’ if the robot would produce what she called â€Å"caring environment†Ã¢â‚¬ ¦ I would be happy to produce the illusion that there is somebody really with me†¦ A responsive robot even exhibited scripted behavior, seemed better to her than he demanding boyfriend† (Turkle 269). In both passages the authors discuss how technology can be very convenient for us. Gopnik discusses how trains and telegrams make it easier for people to get where they need to and communicate. However, trains brought over crowding to the cities and telegrams created a sense of separation because now peop le did not have to actually go and see each other. Turkle also talks about the convenience that comes with technology. When she was talking to a female that said that she would not mind a robot boyfriend because it would help her not to be lonely but unlike a real one it she would not have to tend to their demands. The real question, I saw was not â€Å"Why this friend? † but, â€Å"Why this fiction? † Why as Olivia had seen so clearly, are grownups in New York so busy, and so obsessed with the language of busyness that it dominants their conversation? †¦ grabbing lunch instead of sitting down and exchanging intimacies†( Gopnik 156). | â€Å"Do you care that the turtle is alive?†¦ A ten year old girl told me that she would prefer a robot turtle because aliveness comes with aesthetic inconvenience†¦ â€Å"For what the turtles do, you didn’t have to have live ones. †(Turkle 265-266) |Both authors have made assumptions for their essays based on youth’s point of view . Gopnik uses his daughter’s imaginary friend to show how things are in the busy life of a New York. Technology has made New Yorkers so busy that they rather â€Å"talk to the person later† instead of sitting down and having actual conversation. Turkle also uses children to explain her point. At the zoo with children she explains how they said that they rather see a mechanical turtle because actual interaction with a turtle is not needed if the fake one can do the same thing.Both of these are examples of how technology is now seen as equal to physical bonding. â€Å"Busyness is felt so intently here because we are both crowded and overloaded. We exit the apartment into a still dense nineteenth century grid of street corners and restaurants of people full of people, and come to a twentieth-century grid of faxes and emails and overwhelming incompleteness† (Gopnik 158) | â€Å"We build a following on Facebook or Myspace and wo nder to what degree our followers are friends†¦ But for most people it begins when one creates a profile on social- networking site or builds a persona or avatar for a game or virtual world. (Turkle 273). | Both authors in these quotes talk about how, how technology has begun today to follow you everywhere and becomes more important to you than anything else. And how we create online networks we become encompassed and like our emails they become our lives. We become overwhelmed because we feel like we must respond to them and we must check our twitter followers.

Not Just An Occupation ( Occupational Therapy Is A Miracle...

Not Just an Occupation Many people often look back at their childhood memories and recall doing fun activities with their grandparents. These people will probably remember their grandma teaching them how to bake cookies, ride a bike, or even finger paint. However, that is not my story. My story begins with a troubled phone call that rushed me to an emergency room of the local hospital. I remember thinking that it hurt, looking at her, hurt. I stood there with a blank look on my face, peering through the narrow room that soon would house my grandma for next few days. My fragile grandma had a stroke which disabled the entire right side of her body. I knew now, in these moments, that my grandma was not going to teach me how to bake cookies, ride a bike, or finger paint, she was going to teach me a career of a lifetime, Occupational Therapy. Occupational Therapy is not just a degree. Occupational Therapy is a miracle that helps disabled people across the world to overcome challenges. This therapy stimulates the neurological parts of the mind to perform activities that patients normally could not (Bureau of Labor Statistics, 2014). For example, my grandmother who does not have access to her right hand, would ultimately gain motor skills to help her perform everyday activities by following the proper therapeutic techniques. I discovered this field of medicine in 2012, after my grandmother had a stroke. She was assigned to attend therapy three times a week for sixShow MoreRelatedFundamentals of Hrm263904 Words   |  1056 Pagesto self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started www.wileyplus.com/firstday Student support from an experienced student user Ask your local representativeRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesLinda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture in Recent America Joanne Meyerowitz, ed., History and September 11th John McMillian and Paul Buhle, eds., The New Left Revisited David M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Read MorePharmaceutical Price Controls in the Oecd Countries47662 Words   |  191 PagesAdministration Therapeutic Products Directorate Pharmaceutical Price Controls in OECD Countries v TRIPS VRR WHO WIPO WTO Agreement on Trade-Related Aspects of Intellectual Property Rights Vaccine Research Relief World Health Organization World Intellectual Property Organization World Trade Organization vi U.S. Department of Commerce, International Trade Administration Executive Summary Improvements in health care and life sciences are an important source of gains in health and longevityRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesSociology 14 †¢ Anthropology 14 There Are Few Absolutes in OB 14 Challenges and Opportunities for OB 15 Responding to Economic Pressures 15 †¢ Responding to Globalization 16 †¢ Managing Workforce Diversity 18 †¢ Improving Customer Service 18 †¢ Improving People Skills 19 †¢ Stimulating Innovation and Change 20 †¢ Coping with â€Å"Temporariness† 20 †¢ Working in Networked Organizations 20 †¢ Helping Employees Balance Work–Life Conflicts 21 †¢ Creating a Positive Work Environment 22 †¢ Improving Ethical Behavior 22

Gambling in The Bahamas Should it Be Legalized - 1821 Words

The right to gamble is a right given to several matured persons living in the United Sates for the purpose of amusement. The Oxford dictionary defines the word ‘gamble’ as playing games for a chance of winning money. Last year, the current Government of the Bahamas proposed a referendum that asked Bahamians about their views on gambling. The referendum asked Bahamians if they supported the regularization and taxation of web shop gaming. As noted in the results, the mass of the Bahamian people voted no against the referendum. Today, the gambling issue has reawakened and Bahamians are now in a fight against the laws of their country. Several Bahamians believe that the law discriminates against Bahamians because it prohibits Bahamians from owning and legally gambling in casinos within in their homeland. Although any form of gambling is illegal in the Bahamas, there are abundant web houses that allow Bahamians to participate in a few forms of gambling. Gambling in The Bahama s propose that legalized gambling can result in job creation, revenue generation and prevent discrimination of Bahamians however, Harms of Legalized Gambling suggest that gaming can lead to poverty, increased and pathological gambling. Numerous web houses and casinos are found throughout the islands of the Bahamas. In the film Gambling in The Bahamas, Acct John Bain stated; that during the time that the Progressive Liberal Party was under the leadership of Sir Linden Pindling, casinos in theShow MoreRelatedGambling Legalization1808 Words   |  8 PagesGerika Arthur Professor McPhee English 300-01 March 14, 2011 Gambling legalization for a promising future Gambling is the act of playing for stakes in the hope of winning (including the payment of a price for a chance to win a prize). (Oxford dictionary) Many have their own opinions about gambling and at this time gambling is not legally practiced here in The Bahamas. â€Å"Such a move would bring an end to an illicit industry that makes tens of millions of dollars a year and which employs hundreds;Read MoreGambling No Matter The Stake Gambling Essay1555 Words   |  7 Pagesa loser, this being very prevalent in gambling no matter the stake. Gambling regulations exist all over the country as there is a basis of set laws that are put forth by the government, such as the ability to not buy a lottery ticket until the age of 18 and not being able to fully access a casino until the age of 21. On the topic of individual state, states have the power to control who gambles and how by setting forth regulations on the topic of gambling, such as recent applications that involve

My Spiritual And Discipleship Condition Essay - 1600 Words

â€Å"Search me, O God, and know my heart: try me, and know my thoughts: And see if there be any wicked way in me, and lead me in the way everlasting† (KJV Ps. 139:23-24). In this verse, David asks God to help him search his heart so that he can be closer to God. Without God, the process of self-evaluation is impossible as David states in his psalm. What makes David such a good source for advice? In the Bible, David is known as â€Å"a man after God’s own heart† (1 Sam. 13:14). If David recognized the importance of self-evaluation, then every Christian should continually evaluate themselves according to God’s principles in the Bible. In this paper, I will be examining my spiritual and discipleship condition in relation to myself, God, and others. In relation to myself, my biggest weakness would be my fear and anxiety. My biggest fear is change. In the past, I have had many bad experiences with change. For example, the most traumatic change in my life was the move from England to South Korea. The leaving behind of friends, culture, and comfort caused great distress. Another challenge and change was moving from South Korea to America when my mother became very sick. This change had a very big impact on anxiety as the fear of losing my mother changed me emotionally. During sixth grade, I went to the middle school and was bullied. This experience motivated me to become homeschooled. The most recent big change that I experienced was going to college. Because of my past traumatizing change,Show MoreRelatedThe Between The And Great Commandment And The Great Commission1687 Words   |  7 Pageshow to approach to students who do not know God, are not interested in God, and ever had no spiritual conversation with others. The section t hree talks about how to train and develop disciple students. 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The Goal The apostle Paul refers to the church as the body of Christ. 1 CorinthiansRead MoreSpiritual Condition Evaluation1192 Words   |  5 Pages SPIRITUAL CONDITION EVALUATION PAPER By (Student Name) Institutional Affiliation Date Spiritual Condition Evaluation Paper Topic: Spiritual Condition Evaluation Paper Pages: 4 pages SOurces: 3 Citation: APA Deadline: 4 hrs Instructions: A Spiritual Condition Evaluation paper will be required of you. (Note: Write about yourself. However, If you would rather not write about yourself, you may select a living famous person to evaluate with the instructor’s priorRead MorePastoral Reflection. In Retrospect, This Professional Project1873 Words   |  8 Pagesthe culture of the community and its connection with some of the biblical characters. Selective hymns from the A.M.E. Hymnal, along with contemporary songs served as spiritual connectors to the veterans’ faith. 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Reaching out: The Three Movements of the Spiritual Life. New York, NY: Doubleday. Summary: In Reaching Out, Henri Nouwen gives out a standard by which we are supposed to live â€Å"in the Spirit of Jesus Christ.† He suggests that we need to reach out beyond the tension caused by our lonely, hostile, illusive state.† As our lives fluctuate between poles of stressful and successful existence, our souls are tempted by boredom and yearning for true holiness. HavingRead MoreThe Importance Of The Parables Taught By Jesus1895 Words   |  8 Pages I will discuss the relevance of the parables taught by Jesus in this passage in the light of today’s situation. My argument shall develop around Matthew Henry’s intuition that the expression ‘Kingdom of God’ can be referred in some way to Jesus Christ himself. 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Throughout the novel, Steinbeck focuses on an individual belonging in the Joad kin- Tom Joad. Parolee Tom undergoes a moral development through aid by Reverend Jim Casy whose spiritual theories explore philosophies of pragmatism, humanism, and socialism. Embodied in Steinbeck’s bildungsroman novel, the protagonist, Tom Joad, is familiarized to be wholly flawed and human. Often kind and sympathetic, yet quick to anger, Tom canRead MoreHoly Spirit, By Rick Warren872 Words   |  4 Pagesand lo, I am with you always, even to the end of the age.† In The Purpose Driven Life, Rick Warren writes that â€Å"our first purpose in life is to: Worship, to know and love God; Fellowship, learning how to love; Growing into spiritual maturity, becoming like Christ, discipleship; Serve God by serving others by being available, grateful, faithful and generous. God wants us to use our personality, abilities and experiences to serve others. Today the average life span is 25,550 days. That’s how long

Commonwealth Bank of Australia IT

Question: Discuss about the Commonwealth Bank of Australia for IT. Answer: Information Technology and the Banking Industry Importance of IT in Business Being one of the big four major banks in Australia, the Commonwealth bank of Australia (CBA) serves many people and businesses across different countries including Fiji, New Zealand, USA, the UK among many others. Its integrated services are enabled by information technology, services such as retail banking, fund management, insurance and broking services are primarily facilitated by information monitored and analysed by information systems/information technology (Commonwealth bank of Australia 2017). Furthermore, the banks international presence is also enabled by IT systems that integrate its services into one holistic package. IT in Banking and its Importance in Business Survival Information technology has led to many new business markets for the banking industry, new services such as electronic banking are now available because of the channels created by different revolutionary technologies. In addition to this, consider the applications of mobile banking and internet banking where people are able to send money with the touch of a button. In fact, It is hard to survive the current competitive environment if a bank does not provide these services (Rahman 2007). However, several challenges are faced when deploying these services to the masses such authentication and confidentiality. Nevertheless, IT also provides the necessary solutions to deal with these challenges. Moreover, the solutions offered by IT go beyond the challenges of delivering banking services, today technology is used to meet the high expectation of consumers who prefer automated services. Teller workers, ATM and other services apply information systems to deliver accurate and consistent results. In essence, IT helps meet the challenges of a modern economy (Kumar 2013). Finally, consider the bank in question CBA, its survival, in the past and now rests on its ability to increase its financial activities across the globe. Apart from increasing the global fund transfer, the global outreach helps increase a banks profitability margins. Requirements of Applying IT in the Banking Iandustry Decision management calls for strategic planning prior to commencing in any business project, similarly before applying IT systems and more so, informations systems its good to have the requirements in mind. First the cost, according to the American bankers association (2013), banks expenditure in 2013 was over 460 billion dollars on new IT technologies. Which shows the investment needed for a successful service delivery system. An IT infrastructure will cater for resource management system, customer management system and even the services themselves. This affirms the current estimates that see banks investing more than 7.3 percent of their revenues on IT, similarly the development stages must apply similar values (Duetsche Bank 2012). Secondly, we have the designs for the applications themselves, these designs depend on the application requirements which are also set by prior strategic planning. CBA had to consult far end wide to design their latest technological investment called blockchain. Similar to bitcoin technology, this revolutionary technology simplifies financial transaction allowing businesses to transfer money securely (Pash 2016). Operational research is the key to implementing good technological systems into a business, this because there a lot of elements to consider for instance the equipments to be used. CBA at some point bought teller machines and ATM based on research they did, driven by their objectives. Moreover, these equipments are used by individuals who are trained prior to them performing their respective roles (Blumberg Cotter 1975). Research operations help identify weaknesses and strengths of systems, equipment and the people who use them, concepts still used to date especially in app lying information technologies. Use of Information Technology CBAs financial information and transactions are recorded by banking Softwares designed to store and analyse data efficiently. This enterprise Softwares can manage large customers data which is later used to develop business strategies by applying the concepts of business intelligence (BI) and business processing. BI systems use records to forecast future activities such as the cost of expenditures, profits and expected customer base. An employee at the CBA bank will enter a customer record which is then stored in a database filled with other customer records. From these databases, a bank can analyse its data to monitor progress and make strategic investments. Moreover, with big data (information based on consumer behaviour) a business can predict its customers behaviour. Furthermore, information systems help monitor employees while they conduct their daily duties, which is a good management practice (Martin 2015). Externally, information technology is used by customers to access a banks resources. CBAs customers can access their transactions via secured banking portals. Furthermore, they can transfer money from different bank accounts including those in other countries other than their host nations. In addition to this, consider ATM services where money is accessed automatically via electronic cards absent of the tellers. These ATM systems depend on a combination of technological systems such as encryption, databases, networks etc to deliver their services (Martin 2015). Benefits of IT Information has had profound advantages on the financial sector, for instance, a bank like CBA has had increased revenues and reduced its expenditure cost through technological investments. Today, it does not rely on middlemen to secure its currency from one state to another, instead, the currency is transferred electronically based on the business regulation and requirements set. Consider the efficiency and flexibility of these inclusions, however, the advantages are more precise and even more than these mentioned here. Lets critically analyse the benefits of IT in a business world especially in the banking industry. Time efficiency and increased service delivery Banking systems are able to accurately deliver the services needed by the customers, be it an application for a loan based on the customers saving score among others. Furthermore, its easier for a customer to access and assess his/her account at his own comfort without going to the bank. This saves time and other important resources. Improved data storage - Previously, data records such as accounts and names were stored in physical vaults. These vaults occupied large space sizes and had minimal security. A bank like CBA can have large amounts of data depending on their requirements, moreover, its easier to manage the data as its strategically placed in secure virtual storages. Reduced operation costs With improved service delivery, more customers are served and with minimal operation expenses. Finally, information technology is slowly helping the banking industry phase out physical money and in its place electronic currency. The flexibility and efficiency of this cashless society will be immense, the obvious being the ability to walk around without wallets filled with money. Moreover, this outcome is no longer a future possibility but a reality as exhibited by the e-cards in use as well as mobile money. (Advantages modified from Karehka Ramey 2012) Risks Associated with Information technology In the banking industry and in any other business, information technology is used to automate processes and the activities involved. This automation has its associated risks, more so for a banking industry where the processes involve money. Operational risks are a better way of defining the IT risk faced by the banking industry, which may result from inadequate or even failed systems (Aboli 2015). Internet banking, for instance, has serious risks as hackers can impersonate banking services to acquire customers confidential information. In the process, an innocent user may enter their confidential information losing their money or even other confidential information. Secondly, information systems and technologies pose serious risks to the existing legal policies. To access some services, thorough backup checks or scrutinization are done by the service provider which may infringe on peoples personal privacy and secrecy rights. Furthermore, electronics systems are known to fail just like any other aspect of life, an automatic risk considered by those who invest in them. Maintaining and monitoring IT Systems Information technology has many advantages which can provide a business with the necessary competitive edge to outdo its competitors. However, IT can also lead to serious negative outcomes if poorly maintained. For instance, a bank like CBA with poor encryption systems can loss confidential customers information and as a result, lose its clients. A business like CBA should invest in continuous assessment systems (CAS) that monitor technological systems such as the hardware and software involved in the business. The overall aim of CAS systems is to evaluate the effectiveness of technologies applied to meet an organisation's requirements. Furthermore, the business should also provide basic system administration to monitor and maintain their IT systems. The administration is responsible for alleviating the risks involved such as data loss, privacy, security and confidentiality concerns. Moreover, the organisation should identify future technologies that supplement their existing systems to meet their standard requirements. Innovation helps to develop new ideas and reinforces the existing ones. Conclusion Businesses investing in information technology is no longer an option but a necessity to surviving the current competitive market. In essence, having IT systems such as customer database and customer management systems is the first step to starting a business. For the banking industry, technology has helped revolutionise the way business is done. Today, services such as instant money transfer are available and are dominating the market because of IT systems. Moreover, banks like CBA account for these technologies to assess their progress and to make future decisions. Therefore, information technology is now a survival tactic rather than a supplementary tactic or option. References Aboli. (2015) 8 Risks in the Banking Industry Faced by Every Bank. Lets talk payment, Retrieved 13 January, 2017, from: https://letstalkpayments.com/8-risks-in-the-banking-industry-faced-by-every-bank/ Berisha-Shaqiri A. (2015). Impact of Information Technology and Internet in Businesses. 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