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Discuss an activity in your life which caused you to understandthe need for a personal financial plan and how you began to set upa plan for yourself. It may not have been a formal plan, just anawareness of your financial situation and some steps that werenecessary for you to take to implement the plan

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Trinidad Tremblay
Trinidad TremblayLv2
28 Sep 2019

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You have been an employee for the last ten years. Your employer had provided you with health insurance (coverage for just yourself), group term life insurance, and long-term disability coverage. Your employer has just been acquired by another organization and that acquiring company has decided to keep the personnel of your location as independent contractors, not employees, so it will not provide benefits. This means you have lost all your benefits in the next 90 days. How will you go about investigating and finding appropriate coverage based on your current family situation and the role that insurance plays in your financial plan? Describe the process and reveal the appropriate types of coverage that meet your needs and your budget.

Project 4 - Business Continuity Plan

Create a three page policy for business continuity for the White House security staff. Prepare a plan based on the critical nature of information that is presented within the executive department and military strategies that are reviewed for action. Address each item in the policy headings below:

The information to use as a resource for your policy is provided below (taken from SunGard Availability Services at www.sungardas.com, limited use for educational purposes) and also in your reading for the week (See Appendix 1 for policy information).

Plan purpose: for example, to allow company personnel to quickly and effectively restore critical business operations after a disruption.

Plan objective: for example, to identify the processes or steps involved in resuming normal business operations.

Plan scope: for example, the work locations or departments addressed.

Plan scenarios addressed: for example, loss of a primary work area, loss of IT services for a prolonged period of time, loss of workforce, etc.

Plan assumptions: for example, you may want to call out the number of work locations impacted at any given time that key personnel are available for any recovery efforts, or any assumptions you may have made about vendor or utility service availability.

PLAN SECTION:

Recovery Strategies and Activities

After the initial introductory section, there are usually a number of paragraphs about the strategies outlined in the plan, as well as the specific personnel undertaking the recovery and the recovery activities. Examples of sections that you may want to consider for your own BC/DR plan include:

Recovery Strategy Summary: In this section, a plan will typically outline the broad strategies to be followed in each of the scenarios identified in the plan Introduction section. As an example, if “loss of work area” is identified as a possible failure scenario, a potential recovery strategy could be to relocate to a previously agreed-upon or contracted alternate work location, such as a SunGard work area recovery center.

Recovery Tasks: This section of the plan will usually provide a list of the specific recovery activities and sub-activities that will be required to support each of the strategies outlined in the previous section. For example, if the strategy is to relocate to an alternate work location, the tasks necessary to support that relocation effort could include identifying any equipment needs, providing replacement equipment, re-issuing VPN tokens, declaration of disaster, and so on.

Recovery Personnel: Typically, a BC/DR plan will also identify the specific people involved in the business continuity efforts, for example, naming a team lead and an alternate team lead, as well as the team members associated with any recovery efforts. This section of the plan will also include their contact information, including work phone, cellphone, and email addresses. Obviously, because of any potential changes in personnel, the plan will need to be a “living” document that is updated as personnel/workforce changes are made.

Plan Timeline: Many plans also include a section in the main body that lays out the steps for activating a plan (usually in the form of a flow chart). For example, a typical plan timeline might start from the incident detection, then flow into the activation of the response team, the establishment of an incident command center, and notification of the recovery team, followed by a decision point around whether or not to declare a disaster. A plan timeline may also assign the recovery durations or recovery time objectives required by the business for each activity in the timeline.

Critical Vendors and their RTOs: In this section, a plan may also list the vendors critical to day-to-day operations and recovery strategies, as well as any required recovery time objectives that the vendors must meet in order for the plan to be successful.

Critical Equipment/Resource Requirements: A plan may also detail the quantity requirements for resources that must be in place within specified timeframes after plan activation. Examples of resources listed might include workstations, laptops (both with and without VPN access), phones, conference rooms, etc.

Suppose you decide (as did Steve Jobs and Mark Zuckerberg) tostart a company. Your product is a software platform thatintegrates a wide range of media devices, including laptopcomputers, desktop computers, digital video recorders, and cellphones. Your initial market is the student body at your university.Once you have established your company and set up procedures foroperating it, you plan to expand to other colleges in the area andeventually to go nationwide. At some point, hopefully sooner ratherthan later, you plan to go public with an IPO and then to buy ayacht and take off for the South Pacific to indulge in your passionfor underwater photography. With these issues in mind, you need toanswer for yourself, and potential investors, the followingquestions.

  1. What is an agency relationship? When you first beginoperations, assuming you are the only employee and only your moneyis invested in the business, would any agency conflicts exist?Explain your answer.
  2. If you expanded and hired additional people to help you, mightthat give rise to agency problems?
  3. Suppose you need additional capital to expand and you sell somestock to outside investors. If you maintain enough stock to controlthe company, what type of agency conflict might occur?
  4. Suppose your company raises funds from outside lenders. Whattype of agency costs might occur? How might lenders mitigate theagency costs?

Using complete sentences and academic vocabulary, please answerquestions a thru d. Please don't copy from other sources. Thankyou

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