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India's software industry has over the years grown in importance in the global market that we now have. The majority of revenue generated is from their export market (i.e. selling services to offshore companies), which is in heavy competition with the USA.

The Indian Software and IT Outsourcing Industry

The Indian Software and IT Outsourcing IndustryIndia's software industry has over the years grown in importance in the global market that we now have. The majority of revenue generated is from their export market (i.e. selling services to offshore companies), which is in heavy competition with the USA.After 9/11, many companies around the world realised the need for offshore back-up systems and this prompted a rash of investment by banks, airlines, telecommunications and IT companies.The Indian software industry is worth approximately $38billion, with $31billion of that being generated from exports.So who are the major players?Infosys (NASDAQ - INFY), which floated on the US stock market in 1999, is an Indian IT outsourcing with no Indian clients. It's purely a player on the global stage and one that's only growing. Its shares may not be on the rise right now, but once the dollar grows back in strength their value will show and it will be time to sell.If you're brave and enjoy a venture in to the foreign markets India's TCS (Tata Consultancy Services Ltd) is another of the major players in India's software and IT outsourcing industry. Tata may be a name familiar to many of you from Tata Holdings, which is one of India's biggest industrial groups, so you can feel very confident about this stock's value and future. Currently, TCS (TCS.NS) is listed on India's national stock exchange.Next up is Wipro Technologies (NYSE - WIT) a company that has over the past couple of years has snapped up various US and European companies, which is sure to have sent out a message to their Western competitors of their intent to continue moving forward. And its competitors in the West are companies which just cannot compete with India's lower wagers but higher skills level.What can major Western software companies do to fight back? Will home grown Indian companies be buying up the major Western players as they find that they cannot compete in the long-term?I cannot answer the second question, but a possible answer for the first is that some of the advantages established Western companies have over emerging Indian companies are the experience in managing projects efficiently and meeting deadlines and the basic infrastructure within their own company and society ensures there is less rough and more polish. It's not to say that some of India's IT companies are not on equal (or superior) footing in terms of infrastructure but the companies leading the way in terms of infrastructure are majors such as TCS, Wipro and Infosys. For smaller projects, investment in India is a gamble, as you may not know of the products doom until the eleventh hour. Western companies survival will depend up on them promoting the quality of development they have to offer and the solidity of project management from beginning to end.

Residential Telecom Audits

Residential Telecom Audits

No business can flourish without an efficient and advanced telecommunications infrastructure in its offices and factories. All employees need a communication device to maintain their efficiency and save precious time. Obviously it means the establishment of an extensive telecom network in your offices. A big chunk of your budget has to be allocated for the successful operation and optimum utilization of telecom resources. You need to maintain a separate department to oversee the functioning of the telecom network and its finances. This means that you can employ a team of expert auditors to keep an eye on the billing of the telephone vendors, in-house misuse or fraud in utilizing the network devices, and regular contact with the vendors with timely references to the anomalies in their billing. And in case the overcharged bills have been paid, they will have to be recovered or credited into your account. Your in-house team needs to do a detailed planning of your telecom network and make important and timely decisions about the budgetary allocations to implement the plans. Besides auditing the billing and other financial aspects, your auditors can also use the software to automatically audit and validate the invoices.You must also note that managing a telecom network is a very complex and confusing affair because the data comes from a variety of sources, such as contracts, invoices, vendors and customer services. The software can easily analyze this data, which is a daunting task for your residential auditors and can encroach upon their time, which can be more usefully spent on other important aspects. The software can therefore reduce the time-consuming manual processes and increase efficiency. It can also display and track unresolved billing errors.Despite the detailed and comprehensively programmed software that you may be using, it cannot resolve unexpected billing problems. It is here your Residential Telecom Audit Team can step in. It can ensure that your company is getting the optimum services from your telecom infrastructure and network. It should help to rein in the uncontrollable costs, besides replacing the outdated telecom devices by getting the latest ones and including the latest technologies to optimize the returns on investments. In this way your Residential Audits team can organize the entire telecom environment to promote the growth of your organization.

Payroll Hawaii, Unique Aspects of Hawaii Payroll Law and Practice

Payroll Hawaii, Unique Aspects of Hawaii Payroll Law and Practice

The Hawaii State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:Department of TaxationWithholding TaxP.O. Box 3827Honolulu, Hi 96812-3827808-587-4242www.state.hi.us/tax/tax.htmlHawaii requires that you use Hawaii form "HW-4, Employee's Withholding Exemption and Status Certificate" instead of a Federal W-4 Form for Hawaii State Income Tax Withholding.Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Hawaii cafeteria plans are: not taxable for income tax calculation; taxable for unemployment insurance purposes. 401(k) plan deferrals are: not taxable for income taxes; taxable for unemployment purposes.In Hawaii supplemental wages are required to be aggregated for the state income tax withholding calculation.You may not file your Hawaii State W-2s by magnetic media.The Hawaii State Unemployment Insurance Agency is:The Department of Labor and Industrial RelationsUnemployment Insurance Division830 Punchbowl St.Honolulu, HI 96813808-586-8970http://hawaii.gov/labor/The state of Hawaii taxable wage base for unemployed purposes is wages up to $30, 200.Hawaii has optional reporting of quarterly wages on magnetic media.Unemployment records must be retained in Hawaii for a minimum period of five years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.The Hawaii State Agency charged with enforcing the state wage and hour laws is:The Department of Labor and Industrial RelationsEnforcement Division830 Punchbowl St., Rm. 340Honolulu, HI 96813808-586-8777http://hawaii.gov/labor/wsd/index.shtmlThe minimum wage in Hawaii is $6.25 per hour.The general provision in Hawaii concerning paying overtime in a non-FLSA covered employer is one and one half times regular rate after 40-hour week.Hawaii State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:

  • Employee's name
  • Employee's address
  • Employee's social security number
  • Employer's name
  • Employer's address
  • Employer's Federal Employer Identification Number (EIN)
This information must be reported within 20 days of the hiring or rehiring.The information can be sent as a W4 or equivalent by mail, fax or electronically.There is a $25.00 penalty for a late report in Hawaii.The Hawaii new hire reporting agency can be reached at 808-692-7029. Hawaii does allow compulsory direct deposit except for State employees hired after 7/1/1998. Hawaii requires the following information on an employee's pay stub:
  • Gross and Net Earnings
  • pay period dates
  • payment date
  • itemized deductions
Hawaii requires that employee be paid no less often than semimonthly; monthly if union contract or director of labor relations allows..Hawaii requires that the lag time between the end of the pay period and the payment of wages to the employee not exceed seven days; up to 15 if the director of labor relations allows.Hawaii payroll law requires that involuntarily terminated employees must be paid their final pay immediately or the next working day if immediately is impossible. The next regular payday if suspended due to a labor dispute or temporarily laid off.Voluntarily terminated employees must be paid their final pay by the next regular payday or by mail if employee requests it; immediately if one pay period's notice is given. Deceased employee's wages up to $2000.00 must be paid to the surviving spouse or adult children (in that order) within 30 days. Conditions require an affidavit of relationship and a receipt.Escheat laws in Hawaii require that unclaimed wages be paid over to the state after one year. The employer is further required in Hawaii to keep a record of the wages abandoned and turned over to the state for a period of five years. "Hawaii payroll" law provides for a maximum tip credit against minimum wage of $0.25.In Hawaii the payroll laws covering mandatory rest or meal breaks are only that minors under 16 must have a 30-minute meal period after five hours of work.There is no provision in Hawaii law concerning record retention of wage and hour records therefor it is probably wise to follow FLSA guidelines.The Hawaii agency charged with enforcing Child Support Orders and laws is:Child Support Enforcement AgencyDepartment of the Attorney General601 Kamokila Blvd., Ste 251Kapolei, HI 96707808-587-4250http://hawaii.gov/ag/csea.Hawaii has the following provisions for child support deductions:
  • When to start Withholding? first pay period within 7 days of mailing
  • When to send Payment? Within 5 days of Payday.
  • When to send Termination Notice? Immediately
  • Maximum Administrative Fee? $2 per payment
  • Withholding Limits? Federal Rules under CCPA.
Please note that this article is not updated for changes that can and will happen from time to time.

How to Avoid Business Disasters

How to Avoid Business Disasters

Copyright 2006 business-cards.comBusiness disasters have a way of creeping up on you when you least expect it. Simon thought he had it all. A great full time job, wonderful partner, three beautiful children, a big home and a young but successful part-time internet business he was intent on building.When his full time employer fired him out of the blue for poor quality work, he was devastated. He was unable to find another full time job, and his part time business was only young, and not able to support the family. His wife was pregnant with their fourth child, and they had no cash reserves. After six months, his home was going to be repossessed. This can happen to anyone.Starting a part-time internet based business allows entrepreneurs to test the water and check to see if their business idea is viable, while still bringing in a full time paycheck. But you should watch out for pitfalls in this seemingly ideal situation.Something to consider before you start your internet based business; will this venture conflict with the interests of your full time employer? If you are both looking for the same customers, then the answer is yes, and this is likely to raise problems. There may even be a non-competition clause in your employment contract.Discuss your plans openly with your boss, assuming you do not pose a business threat to him. Explain how it will not conflict with his business, and that you will not skimp on time devoted to your day job. He may even view your acquiring extra business skills as positive, if you can apply them to your full time employment as well.Make sure that you choose a business which is suited to a part-time operation. Some businesses, such as retail, are very demanding of your time, while others, such as being a consultant, can easily be managed with less time commitment.You need to be an excellent time manager. Running a part time business which you are hoping to build over the years, whilst you are fully employed will test your organizational and time management skills to the limit. Family, chores and sleep may be big issues. It is easy to underestimate the commitment required for a successful part time business. Avoid making promises you cannot keep, whether to customers or to family and friends. Make sure that your plans are fully accepted and supported by those nearest and dearest to you. Ensure that they are aware of your time commitment to the project. Support can be as simple as filing, bookkeeping or packing up parcels.The lure of the internet entices us to undertake multiple small businesses, particularly when we spot a real business opportunity, often in the form of a must have domain name. Avoid this situation at all costs, unless you do not have a full time job. Surely better to build one company properly than to undertake five, and not get time to do any of them thoroughly and to the best of your ability.Keep in mind what you envision as the end result. Are you setting up your company to provide an additional income? Or do you plan to do it full time when it can support the family? If you are planning to quit your day job then set goals. It would be wise to have a cash reserve as a back up to augment income if you do not have the benefit of a regular pay check.A part-time business, which you develop over time, can be a wonderful way to grow your company. It takes time to build contacts and to gain the trust of your customers. In fact, part-time working may be the best kept business secret. Take a look at Michael Dell, who started his business part-time in his school dorm. It makes you think, doesnt it?

Why Are Duopolies So Competitive?

A duopoly is a situation in which two firms control nearly all of the market for a product or service. Duopolies can be surprisingly competitive. If you remember that the price of a product or service is determined solely by the highest losing bid price and the lowest losing ask price, youll realize why a duopoly can be so competitive. A large number of inefficient competitors will have almost no affect on prices in the long run unless someone (either a government or a group of idiotic investors) is willing to continually finance unprofitable operations in an unprofitable industry (think airlines). Of course, there is always the fear of a price fixing scheme in a duopoly. Generally, however, that fear is unfounded. Human nature suggests a price fixing scheme is far more likely to occur in an oligopoly than a duopoly. Humans weight the fear of loss far more heavily than the greed of gain when making calculations about the future. In a duopoly, mistrust increases the fear of loss inherent to any price fixing scheme (namely, the other guy will stab you in the back). In an oligopoly, the diffusion of power and the lack of excess capacity at any one firm makes price fixing very attractive. Price fixing in an oligopoly is a much safer bet than price fixing in a duopoly. There are, of course, other reasons why a duopoly is very unlikely to result in a price fixing scheme. In addition to a healthy does of fear, there is an often unhealthy does of hate in duopolies. There is always just one scapegoat in a duopoly. Hatred is a personal emotion; if spread over too many objects it tends to wane away. Finally, theres the simple fact that both competitors in a duopoly are likely really big, really agile, really cutthroat players. The process leading up to a duopoly tends to be a sort of wolfing run, in which two pups are separated from the runts. Having said all that, price fixing is possible in a duopoly. Some duopolies are not the result of competition but of nationalization and privatization, although this is relatively rare since a nationalized monopoly wont often result in a lasting duopoly (it will either remain a monopoly once privatized or get crushed by new, private competitors). Finally, a price fixing scheme always makes more sense in a commodity business. After all, any product differentiation limits the degree to which general demand is applicable to specific competitors products. For example, Coke and Pepsi are highly differentiated products, at least when purchased in their specific packaging (physical differences or similarities are immaterial here; it is only the buyers belief that matters). I drink Pepsi, and I can assure you (however irrational it sounds) that no drop in the price of Coke would be sufficient to get me to stop buying Pepsi. There is almost no other tangible good about which I could say the same. So, clearly Coke and Pepsi are differentiated products, and theres very little chance of an effective price fixing scheme between them.

Home Based Business Ideas for the Health and Fitness Industry

If you're considering your own home based business, the "health and fitness" industry is a great place to start. There are millions of people of all ages searching for good health tips, products, health advice, vitamins and minerals, etc. So, there's an ongoing need for health-related businesses - both online and offline. Here are some great ideas for starting your own health related home based business. Focusing on a Woman's HealthA woman's health is very important to her. You can start a home based business based on health and fitness for women only. Women are always trying to lose weight, improve health, and discover the secrets behind true health. You can build a home based business that offers advice for women and "improve your health" products such as vitamins, minerals, diet foods, recipes, etc.Men's Health and FitnessMen are typically not as weight-conscious as women, but they do like to stay in shape. If you want to establish a home based business centered on men's health, focus on fitness and exercise. Offer exercise tips and products or vitamins that can help build muscle strength and increase energy.Weight LossIf it is weight loss that interests you, you can start an entire home based business about weight loss for men, women and children. You can promote only one weight loss program or a variety of weight loss programs. With a weight loss website, you can offer almost unlimited tips, recipes, articles, etc. Also, you can dedicate sections of your site to fitness and exercise. The possibilities are endless!Start a Health NewsletterYou can also start your own newsletter about health-related issues. With a newsletter, you can offer it free to subscribers and charge for advertising. Advertisers might be retailers of vitamins and minerals, exercise equipment, health foods, weight loss products or programs, doctors, etc. You can also start a newsletter to promote your own health-related home based business. An online e-zine is even better!Join with Experts in the FieldIf you feel uneasy about starting a health home based business on your own, or simply don't have the expertise needed for such a venture, you can easily team with others who are knowledgeable about the health industry. Some companies, such as USANA, enable you to sell their products, and they do all the groundwork and research for you. So, you can start a home based business in the health industry with little or no prior knowledge.Helping others to "improve health" , "lose weight" , or get in shape can be both a rewarding and lucrative home based business. Discover your rewards while the industry is still booming!

Summary

India's software industry has over the years grown in importance in the global market that we now have. The majority of revenue generated is from their export market (i.e. selling services to offshore companies), which is in heavy competition with the USA.