Q1

					Exchange rate		Prices in
	Assumptions		US dollar prices		(R$/$)		Brazilian reais
	Existing sales price per unit		$400.00	→	4.0000	→	1,600
	If the reais falls in value, the new implied US$ price:
	New dollar price if no reais price change		$355.56	←	4.5000	←	1,600
	If the US$ price is changed to keep US$ price:
	New reais price is current US$ price at new exchange rate:	$400.00	→	4.5000	→	1,800
	Direct cost per unit in the US, percent of price		65%
	Direct cost per unit in the US		$260.00		4.0000		1,040
	Unit volume		40,000
	Decrease in unit volume from price increase		-15.0%
	New lower unit volume		34,000
	Alternative #1: Maintain same price in reais:
	Sales revenue  (R$680 x 50,000 ) / (R$4.000/$)		$14,222,222
	Less direct costs (US$120 x 50,000)		10,400,000
	Contribution margin in US dollars		$3,822,222
	Alternative #2: Raise price in reais (and accept lower volume):
	Sales revenue  (R$800 x 40,000 ) / (R$4.000/$)		$13,600,000
	Less direct costs (US$120 x 40,000)		8,840,000
	Contribution margin in US dollars		$4,760,000
	Alternative 2 is acceptable

• What is the current reais price of the exports to Brazilian customers?

1600 is the current price of in Reais.

• What will be dollar revenue to Dell after devaluation if Dell does not change the current reais price to Brazilian customers?

The Dollar Value would be $3,822,222

• What will be the dollar revenue to Dell after devaluation if Dell does not change the current dollar price of the exports?

The Dollar Value would be$4,760,000

• If you are the advisor, what would be your recommendation to Dell? Explain.

I would recommend Alternative 2

Q2

					Before Exchange Rate Change		After Exchange Rate Change
	Balance Sheet of Bangkok Ingot, Ltd.						Translated				Translated
			Thai Baht		Exchange Rate		Accounts		Exchange Rate		Accounts
	Assets		Statement		(THB/UK£)		British pounds		(THB/UK£)		British pounds
	Cash		5,000		35.71		£140.00		45.45		£110.00
	Accounts receivable		25,000		35.71		700		45.45		550
	Inventory		35,000		35.71		980		45.45		770
	Net plant & equipment		45,000		35.71		1,260		45.45		990
	Total		110,000				£3,080.00				£2,420.00
	Liabilities & Net Worth
	Accounts payable		25,000		35.71		£700.00		45.45		£550.00
	Long-term debt		40,000		35.71		1,120		45.45		880
	Invested capital		45,000		35.71		1,260		35.71		1,260
	CTA account (loss)		–				–				-£270.00
	Total		110,000				£3,080.00				£2,420.00
							December 31st				End of Quarter
	a.  Calculation of Actg Exposures:		Thai Baht				35.71				45.45
	Exposed assets (all assets)		110,000				£3,080.00				£2,420.00
	Less exposed liabilities (c.liabs + lt debt)	(65,000)				(1,820)				(1,430)
	Net exposure		45,000				£1,260.00				£990.00
	b.  Change in translation exposure: Gain (Loss)								-£270.00
	NE Assets										£1,260.00
	% change in british pound										-21.4%
	Translation gain (loss)										-£270.00

Question 1:

You purchased a bond with the following characteristics: $1,000 par value 5.5% coupon semiannual payments 18 years to maturity Bond was priced to yield 6%. For the first three years after you purchased, the bond interest rates remained constant at 6%. Then interest rates dropped to 5.4% and remained at that rate for five years. Then rates dropped further to 4.8% and remained at that rate for two more years. Rates dropped even lower to 4% and remained at that rate until the bond matured.

Assume that all coupon interest payments were reinvested at the prevailing markets rate(s). Calculate the realized yield of this investment.

Answer:

Par value	$1000
Coupon rate	5.50%
Coupon Payment	$55
Years to Maturity	18
interest rate	6%

For the calculation of yield to maturity:

Bond Price

For the first three years with 6%

53.39806

51.84278

50.33279

For the next five years with the yield 5.4%

49.44028

48.14049

46.87486

45.64252

44.44257

For the next two years with the 4.8%:

44.42865

43.38735

For the next eight years with 4% rate

44.23447

43.36712

42.51679

41.68313

40.86581

40.06452

39.27894

38.50877

The present value of the par value:

587.4

Total Bond Price = 1395.844

YTM:

YTM = 2.71%

Question 2:

You purchased another bond with the following characteristics: $1,000 par value 6.5% coupon, annual payments 25 years to maturity Callable in 7 years at $1,065. You paid $1063.92 for the bond. Macaulay duration is 13.34 years Assume market rates drop by 50 basis points.

1. What will be the new bond price?

Answer:

Percentage change in Bond price = Bond duration * basis points= 13.34 * 0.005

= 0.0667%

New Bond Price = 1000.0667

• Using modified duration; estimate the value of the bond following the decrease in interest rates.

Answer:

YTM:

Bond Price=	$13.46397	$207.138
Bond Price =	$220.602
YTM =	29.57%
Modified Duration=	13.18406

Percentage change in Bond price = Bond duration * basis points= 13.18 * 0.005

= 0.0659%

New Bond Price = 1000.066

• The estimate (from part b), is fairly close to the actual (in part a). What explains the difference in the two values? Be specific.

Answer:

The difference is because of the difference in the computations of the durations which is done by different formulas, Macaulay’s and modified duration in the both computations.

• Calculate the effective duration of this bond. Use shifts of 50 basis points.

Answer:

Decrease in basis points by 50 points by Modified duration

Percentage change in Bond price = Bond duration * basis points= 13.18 * 0.005

= 0.0659%

New Bond Price = 1000.066

Increase in basis points

Percentage change in Bond price = Bond duration * basis points= -13.18 * 0.005

= – 0.0659%

New Bond Price = 999.93

• Calculate the yield to call.

Answer:

YTC= 0.07%

f. Of the three duration measures (Macaulay, modified, effective) which is the most appropriate measure for this bond? Why?

Answer:

The effective duration is the most appropriate duration measure as it also considers the effect of the change in the coupon amount and cash flows as the result of the change in the interest rate.

Question 3:

 Discuss how bond convexity is different for non-callable and callable bonds.

Answer:

Bond convexity is the effect of duration of bonds on its interest rates. Callable bonds show negative convexity with lower rate of interest. This negative convexity results from their short options. They are negatively yield on their lower rate of interest. On the other hand, non-callable bond shows increase in prices due to decrease in interest rates. Callable bond does not show significant change in price by changing its interest rate. Non-callable bonds show positive convexity.

Question 4:

 Why is convexity your friend?

Answer:

Convexity is my friend because it helps me to identify risk. It is a tool for managing risk. It provides identification of market risk at which bond should be exposed.

Question 5:

 You manage a portfolio of bonds for the Kentucky Teacher Retirement System. The weighted-average maturity of all bonds in the portfolio is 18.5 years. According to the actuaries, you must maintain that average maturity (i.e. you cannot increase or decrease the overall weighted-average maturity of the bonds in the portfolio). McWeber, Zenger and Gnan is a Regensburg-based economic Think Tank. They have forecasted a sharp rise in the U.S. yield curve. The result would be a significant increase in both short-term and long-term interest rates in this country. Understanding the negative impact that increasing rates have on bond values, you are concerned. What are changes that you can make to the bond portfolio to minimize the effects of the interest rate risks?

Answer:

I would like to make few changes in the bonds portfolio. I would like to short-term bonds in portfolio. Short-term bonds do not show much effect due to change in interest rate risks. On the other hand, long-term bonds show significant effect due change in interest rates. Common phenomenon rise in interest rates highly affects bonds with more duration. I would like to diversify portfolio by adding few treasury securities.

Question 6:

 Early last year you purchased 500 shares of Mrs. Davis Cookie Company, Inc. (Stock symbol CC). You paid $62 per share. The current stock price is $85 per share. You do not want to sell your stock but you want to protect all of your unrealized gain ($23). You believe that the stock may continue to rise by another 4% – 5% and you want your portfolio to benefit from any such price gains. The following options (puts and call) with July expirations are available.

calls
Strike	Premium	Strike	premium
82.5	5.75	82.5	1.05
85	4	85	1.40
87.5	2.45	87.5	2.85
90	1.40	90	5.30
92.5	.70	92.5	8.15
95	0.32	95	12.65

Devise a strategy using options from the above table that is appropriate, given your parameters. Provide a drawing/graph that depicts that strategy.

Answer:

The strategy that should be used should have the gain on the call and put premium by exercising the call options that are below 85, the market price, and the put options that are above the market price.

7. From the table above, calculate the intrinsic value and the time value of the

following options:

Answer:

1. 82.5 Call
2. Intrinsic value: Market price- Strike value

=85-82.5 = 2.5

• Time value of call option

= Premium – intrinsic value

= 5.75 – 2.5

= 3.25

• 85 Call

Intrinsic value: Market price- Strike value

=85-85 = 0

Time value of call option

= Premium – intrinsic value

= 5.75 – 0

= 5.75

• 87.5 Call

Intrinsic value: Market price- Strike value

=85-87.5 = 0 (is zero for less than zero)

Time value of call option

= Premium – intrinsic value

= 5.75 – 0

= 5.75

• 82.5 Put

Intrinsic value: Strike value-Market price

=82.5-85 = 0 (is zero for less than zero)

Time value of put option

= Premium – intrinsic value

= 5.75 – 0

= 5.75

• 92.5 Put

Intrinsic value: Strike value-Market price

=92.5-85 = 7.5

Time value of put option

= Premium – intrinsic value

= 5.75 – 7.5

= -1.75

Question 8:

 Consider the following annual bond:

Coupon rate: 6.5% YTM: 7.5% Time: 30 years

a. Calculate the duration of this bond.

b. A bond is initially immunized at the point of duration. Show that immunization

Occurs (interest rate risk and reinvestment rate risk offset) at the point of

Duration. Use these interest rates: 7%, 7.5%, 8%.

Answer:

•  

Par value=1000

Coupon payment= 1000*6.5%=65

Bond price= C/(1+i)¹+C/(1+i)²+……. M/(1+i)ⁿ

Bond Price= C*[1-[1/1+i) ⁿ]]/1 +M/ (1+I)^N

Bond price= 942.0429444

Bond price *maturity=28261.28833

Duration=942.0429444/28261.28833

=0.033333333

(b)

Bond price= 946.9884804 If YTM=7% by using formula C*[1-[1/1+i) ⁿ]]/1 +M/ (1+I)^N.

Bond price at YTM 7.5% = 942.0429444

Bond price= 938.791964 at YTM, 8%.

Abstract

In this paper, we have discussed about the business and the IT alignment in the higher education (BITA). The aim of the paper is to look at the significance of the BITA in the Higher education sector. As we have seen that higher education, sector is not implementing much BITA in them but still critical review has been added and the future implementations have noted. Business IT alignment is the state in which the business organizations and the IT use each other to achieve the objectives of the business. BITA is a successful tool which is been introduced all over the world and it is a successful ne because in it the Business strategies, implementations and the IT are interlinked so that there would be better results found. The financial performance is been improved, the marketplace competitiveness his achieved through this. First the BITA have been explained in the detail and the historic spin have been given as the authors have been discussed who have given this concept. Further, the model and the functions have been discussed in the details. If we look at the distinctive competitiveness then it includes the main area of the business on which it is able to survive in the market. Every business has some distinctive competencies on which they are in the market. The 4 quadrants and the 12 components have been explained in the paper, which were given by the key authors of BITA in their strategic model. The four quadrants of the models have been explained as the business strategy, the IT strategy, Business infrastructure and the IT infrastructure. All the relationships in-between the data have been given. The relationships have been explained in the model. The results somehow show that there is too much importance of the BITA ion the higher education. Some of the institutes in the higher education have been used the alignment in the IT and they are successful. Some of the sectors which are not been using BITA are not doing good in the sector that is what it is been seen. The use of BITA in the higher education sector would be increased so that it will be beneficial for the higher education sector and the country.  At the end    Further the relationship of BITA with the higher education have been mentioned in the detail and the analysis have been done in this regard we have seen the gap in the discussion part.  

Table of contents

Introduction. 3

Business strategy. 4

Business infrastructure. 5

Information Technology strategy. 5

Information Technology Infrastructure. 5

Functional integration. 6

Strategy Execution. 7

Technology Potential 7

Competitive Potential 7

Service Level 7

Organization IT Infrastructure. 7

IT Infrastructure Strategy. 7

IT Organization Infrastructure. 8

Organization Infrastructure Strategy. 8

BITA in education organizations. 8

BITA in Higher education. 9

Conclusion. 14

References. 16

Business and IT alignment in higher education sector

Introduction

Business IT alignment is the state in which the business organizations and the IT use each other to achieve the objectives of the business. The financial performance is been improved, the marketplace competitiveness his achieved through this. Some of the concepts says that the alignment in between the business organizations and the IT so that the financial performance and the objectives of the business could be achieved (Hinkelmann, Gerber, & Karagiannis, 2016). There were many problems and differences in between both of the categories like the business organizations and the IT. The main reason they do not align together before was due to many differences in the culture, objectives, incentives, performance and so on. BITA is a successful tool which is been introduced all over the world and it is a successful ne because in it the Business strategies, implementations and the IT are interlinked so that there would be better results found.

If we look at the historic review then we come to know that it and the businesses have changed their perspective a lot. The concept was developed over a decade by McLean and Soden, 1977; IBM, 1981; Earl, 1983; Mills, 1986; Brancheau and Wetherbe, 1987; Parker and Benson, 1988; Henderson and Venkatraman, 1990 and 1996; Dixon and John, 1991; Niederman, et. al., 1991; Watson and Brancheau, 1991; Liebs, 1992; Luftman, Lewis & Oldach, 1993; Chan and Huff, 1993 With the passage of time the orientation in between the IT and the business organizations have been taken place and more strategic alignments have been seen in the past couple of years. It have been seen that there are four domains of the strategic choice, which are IT strategy, Business strategy, organizational process and infrastructure and IT, process and infrastructure. There are some of the internal and external components also which the model actually describes in the study. In this Era, the alignment of IT and the business are very important.

Business IT arrangement addresses the amount IT and business frameworks are in concordance with each other. Arrangement results in an association between the CIO and CEO in creating and accomplishing their methodologies and objectives. Accomplishing arrangement prompts enhanced authoritative execution. Among the few studies that concentrated on building up an instrument for measuring business–IT arrangement, we found that the investigation of the most thorough. Their instrument depended on the key arrangement development (SAM) model created by Luftman (2004) which comprised of six development components: correspondence, competency, administration, organization, innovation extension, and abilities.

If we talk about the good organizations then we come to know that the agile organizations are successful in today’s world and the best thing what they do is the IT interference in their business processes. By doing this the top management become more efficient and quickly decides what to do and what not to do. By looking at this, we come to know that it is an ongoing thing and it needs to be implemented in the organizations so that the strategic fit can be achieved. The IT and the business organizations must be in contact, they should be aligned, and the competitive advantage can be seen in this regard. We have seen in different sectors this strategy is been implemented and they are successful in their businesses (Gu, 2012).

It is a great challenge in the today’s world that everything is been changing so rapidly that it is very difficult to align with the IT. There is a Strategic alignment model, which have been given in the different studies. It actually has the four quadrants and further it have three components in each quadrant. If we see the alignment t in between all these twelve components then we can see that how they all are aligned and how the IT and the business could be aligned. The basic model is been divided in to two segments namely as one part for the business and the second part for the IT. However, the models have been adopted from (Henderson and Venkatraman, 1990).

Business strategy

The two components in the figure we can see are the Business and the IT. By looking at the business part, we can see the business strategy and the business infrastructure. On the other side, we can see that there is IT and there are two quadrants, which are IT strategy and the IT infrastructure indeed. In this component of business strategy, we can see that there are three components, which lie in between it, which are business governance, business scope and the distinctive strategies. In the business scope, everything comes in it that actually affects the business, such as products, services, markets, customers, suppliers, competitors, regulators etc (Jim, 2015).

If we look at the distinctive competitiveness then it includes the main area of the business on which it is able to survive in the market. Every business has some distinctive competencies on which they are in the market. This can be the human source, any business strategy, any special business or so (Michael, 1997). The main aim in here is to compete other and if that is done then it will be achieved. If we look at the third component of the business strategy then it is the business governance. By looking at in depth, we come to know that the relationships between the company management and the shareholders come under this head. The regulations among the strategic business partners and the government also includes in this component (Papp, 2004). 

Business infrastructure

In the second quadrant which is business infrastructure thee components lies. The components are the administrative structure, human resource skills and the business process. In the administrative structure, it tells that how business is being run. The formulation has been told over here. The vertical, horizontal, matrix, centralized or de centralized is been implemented in the business.  In the business prices, all the activities are involves that how business is being run, what are the requirements and what needs to be done, in order to gain the competitive advantage for the business. In the human resource component it deals with the all type of activities that are been connected with the human resource directly or indirectly such as the hiring, firing of the employee, payrolls, train, motivate etc (Papp, 2004).

Information Technology strategy

By looking in the model, the third quadrant is the IT strategy and it consists of three components namely systematic competencies, technology scope and IT governance components. In the IT scope simply the technologies and the applications lies in between that. In the systematic competencies the major edge of the IT have been discusses that how it is been different. If we look in to this component, which is IT governance, and it includes the risks and the responsibilities, how to deal with the business collaborates, taking care of the IT management so that everything would stay in order (Papp, 2004).

Information Technology Infrastructure

In the model, the last quadrant, which we can see, is the IT infrastructure.  It includes the three components, which are process, skills and architecture. In the architecture part all the policies, applications, data management integration and priorities come. In the process component, all the processes have been described in here. The personal development to the applications that needs to be managed and to take care of all the IT relates things. The last component is the skills part and in here all the activities which are been done as we talk about the IT have been discussed and it comes under the skills part (Papp, 2004).

Business–IT arrangement is a versatile procedure instead of an occasion. Accomplishing arrangement requires a continuous exertion of key arranging, objective realignment, and execution of best practice in supporting and molding business procedures. While the greater part of the writing has concentrated on the fit between firms is IT and business methodology, the arrangement issues should be tended to at vital, strategic, and operational levels. Key arrangement meets an associations’ future IT needs; strategic arrangement permits the association to distribute its IT assets viably; operational arrangement guarantees adequacy and productivity of IT in supporting the association’s operations every day (Wu, 2008).

The significance of arrangement has been generally perceived and very much recorded; nevertheless, numerous organizations today are still misaligned, and this has prompted terrible disappointments, including crossed out or excess tasks, frameworks that don’t address the issues of the business, disappointed business clients, and high IS expenses. As (Holland and Skarke, 2001) recommended, change in arrangement in numerous organizations today can be ascribed to C-level officials’ better comprehension of the estimation of IT and their dynamic support in IT basic leadership (economist.com, 2014). The top explanations behind misalignment included absence of a nearby working relationship amongst IT and business, absence of powerful prioritization of IT needs, powerlessness of IT to meet its duties, IT’s absence of comprehension of business, absence of senior official backing of IT, and absence of administration in IT administration. The five variables that influenced the social measurement of IT arrangement recognized by Reich and Benbasat (2010) included shared area learning amongst business and IT administrators, IT usage achievement, correspondence amongst IT and business officials, associations amongst business and IT arranging forms, and vital strategies for success. (Hussin et al, 2014) exploration of 256 UK producing firms found that the main considerations that affected arrangement were IT development, specialized IT advancement, and the CEO’s product learning (Yang, 2003).

Functional integration

In this part, the linkage between the model and the linkage will be explained so that we come to know in the detail that what kind of alignment is there. The linkage between all the components and the quadrants are necessary because nothing can work alone and it needs to be integrated. Strategic fit is the first linkage and explained the need of the business that what the position in the market place is. There are eight different perspectives in the model, which will be separated, and they will be combined with the different models so that the relationship and the alignment can be seen (Kotler & Murphy, 1981).

In it, every prospect carries three different components, which can be seen as they are showing the alignment between the components. The components, which can be seen, are Pivot, Anchor and area of impact. In the prospects where anchor is been placed it is shown the strongest area of the business indeed.  The Pivot actually states the weak area of the business and the point which needs to be changed with the re alignment. The area of impact is the point which is directly impacted through the changes it also says the pivot area which have been done through the re alignment (Ahmad, 2007).

Strategy Execution

 The first point of view is the system execution viewpoint. In this viewpoint, the grapple territory is business methodology. The feeble zone is the business foundation, which is the thing that should be changed. The subsequent range of effect is the data innovation framework. This implies the data innovation design is going to experience changes that must happen in view of changes in the business forms. This point of view spotlights on data innovation arranging or change of the business (Kretovics, 2010). The objectives of this point of view incorporate diminishing deferrals and mistakes, improving administrations and sparing time (e.g. printed material steering or assignment redefinition) (Henderson and Venkatraman, 1990).

Technology Potential

The next point of view is the innovation potential viewpoint. This point of view is additionally determined by business procedure yet the turn is data innovation methodology. This outcomes, in the data innovation foundation as the range of effect. This demonstrates the estimation of data innovation and that its quality is its fundamental commitment to the business’ last item or administration. The relationship that exists between the business and its clients is key and the data innovation procedure drives the point of view (Henderson and Venkatraman, 1990 and 1996).

Competitive Potential

The third point of view is the focused potential viewpoint. The stay in this point of view is data innovation procedure, the turn range is business methodology, and association foundation is the affected space (Stokes, 2015). This point of view spotlights on how developing new data advancements can affect and empower new business systems. These new business techniques convey an upper hand to the business in the commercial center (Henderson and Venkatraman, 1990 and 1996).

Service Level

The service level point of view is the fourth individual viewpoint. In this point of view, the grapple is data innovation system, the turn data, innovation foundation, and the region of effect is hierarchical framework. The center of this point of view is the manner by which data innovation can enhance the how the items and administrations are conveyed. This point of view likewise evaluates how data innovation can enhance the organizations own procedures. Dragging out this point of view can bring about data innovation outsourcing (Henderson and Venkatraman, 1990 and 1996).

Organization IT Infrastructure

The following point of view is the association, data innovation, base viewpoint. The stay is association foundation, the turn is data innovation base, and the affected space is data innovation technique. This point of view results in procedure changes from data innovation and the utilization of quality to the business forms (Papp, 2004).

IT Infrastructure Strategy

Information technology, infrastructure strategy is the following viewpoint. The center of this viewpoint is the change of data innovation system taking into account the execution of rising and existing data innovation frameworks. The stay of this point of view is data innovation base, which drives the turn, data innovation technique, and along these lines affecting business methodology (Papp, 2004).

IT Organization Infrastructure

The seventh point of view is the data innovation, association base viewpoint. The stay of this point of view is likewise IT foundation, with the turn being authoritative framework and the effect territory being business system. Albeit like IT framework system, IT in this point of view is the main impetus and engineer by which the dreams and procedures are completed (Papp, 2004).

Organization Infrastructure Strategy

The last individual point of view is the association framework, procedure viewpoint. Business framework is the stay, business technique the turn, and IT system the influenced region. This last point of view adventures the capacities to improve new items and administrations, affect procedure, and grow new connections. It additionally empowers improvement to business technique (the pivot) consequently changing the IT methodology (Papp, 2004).

BITA in education organizations

 There is much importance of IT in the educational sector as it is one of the most important sectors, which is to be chosen. IT is been used in the teaching techniques which are very useful and effective indeed (Gilbert, 1994). It is expected that with the IT alignments students will perform better as they will have the maximum tools that they can use. In this way, they will interact more with the teachers rather than to stay focused on the lecture (Albrecht, 2004). The exploration for the students will be unlimited as they are not bound and with the help of IT, they will be discovering new things. However it is seen that the use of IT have not been implemented at its full in the class rooms and the educational sectors which is not a positive thing and need to be have a proper control so that students could have the advantage of the IT in the educational departments (Alexander, 2000).

By applying the hypothesis of learning incorporation, (Kearns and Sabherwal, 2009) gave, an exhaustive system that inspected the relationship among coordination conduct, arrangement, IT arranging and undertakings, and business influence of IT. Their study affirmed that business–IT arrangement was impacted by IT chiefs’ cooperation in business arranging and business supervisors’ interests in key IT arranging. Besides, arrangement was observed to be emphatically connected with the achievement of IT arranging and undertakings, which prompted a positive business effect of IT. Luftman proposed a structure called vital arrangement development (SAM) to survey the degree to which business and IT capacities adjust. Concentrating on analyzing authoritative practices connected with arrangement, SAM gives associations an apparatus to assess the development of their key decisions and arrangement exercises and distinguish zones in which they can accomplish a more elevated amount of arrangement. Ensuing exploration incorporated a benchmark study by Luftman that utilized SAM at 50 Global 2000 organizations to make a benchmark for business–IT arrangement and recognize particular suggestions for enhancing arrangement (Altbach, 2011).

It is also seen that the use of IT is maximum at the level of higher education system but still there are couple of lacking in the systems, which needs to be reviewed. There are great capabilities that can be used in the positive manner and that will be helpful in the betterment of the higher education sector. The study by the ECAR says that the IT aligns are well aligned in the higher education sector and that is very good. There are some of the institutes, that are not very well aligned with the IT but majority of them, which have been seen, are aligned. The ECAR study has some of the results that they have brought. It has been seen that there is much differences in between the higher educational level institutes. Some of the main findings which states that the institutions are very much aligned with IT are been given as

• The clear vision and the priorities
• The institutional IT plan have been published
• There is effective IT governance process
• Planning is the important part for the institutions
• The dynamic environmental climates
•  IT strategic planning is been effective in the institutions
•  There are clear and documented objectives with respect to IT aligns
• There is great communication between the teachers, shareholders and the management with respect to IT aligns

BITA in Higher education

Review from the past

For the case of the higher education, the recommended framework is the enterprise architecture in which the competitive advantage is achieved through the advantage means of the IT skills and the Business critical success factors (Barrow, 2011). The alignment is possible for the successfully for the technological aspects and the business expertise in the higher education system (Bowen, 2015). In the non-commercial environment or in the higher education academic world the relationship of the business and the IT has not achieved the remarkable results as it supposed to be. In order to maintain the successful integration of the BITA in the higher education the core compositions of the task forces units, interdepartmental decision-making committees and the personnel liaison with the activities or operations of the interdepartmental decision-making.

The research has shown or highlighted the different issues of the integration of the BITA with the systematic alignment of the higher education. The higher education in some parts of the world as both the sections of the small institutions of music or fine arts and the high-level research and the teaching universities as well (Michael, 1997). . the essence of the competitive advantage for the educational institutions or the organization s while implementing the strategy of the BITA in the higher education is to choose the dynamic model of the business success factors as well as the critical technological technical training for the development of the IT skills and the organizational success (Niu, 2010). The environmental uncertainty in the higher education model is causing the problems in the BITA largely since the results in the text have related to the negative correlation dynamics (Kretovics, 2010).

According to the Henderson & VENKATRAMAN, who were the pioneers of the alignment of the business and IT, it is preferable that the transformation process in the business is necessary to achieve the organizational success. The alignment of the business and the technology in the higher education is possible only by imposing the condition of the architecture of the enterprise in the positions that is fit into the model of the organization. the identification and the reduction of the risks in the alignment of the technology and the business tools in the higher education is critically analyzed under the head of the risk model of the enterprise framework.

The technical uncertainties are identified and then reduced as the part of the evaluating techniques of the structure of the organization as per the context of the system. the second risk in this context is the organizational risk in which the skills, abilities and the knowledge in the higher education is evaluated according to the requirements of the alignment of the both technological revolutionaries and the business skills of the personnel. The last uncertainty is the business risk in which the evaluation of the feature or attributes of the business are made according to the highly implementation or the adopting feature of the business. Then the alignment is possible for the successfully for the technological aspects and the business expertise in the higher education system (Bowen, 2015).

The leveraged means of strategic investigation for the alignment of the business-IT especially in the education sector or the higher education is achieved via the framework of the businesses in strategically terms. In this way, the higher education would make the better system for itself. This framework would be accepted in the intra industry context to achieve the organizational success of the higher education. That is why the core message behind the theory of the Henderson & VENKATRAMAN is the relevant strategic framework (Gu, 2012). The success of the IT is related to the condition that the senior most authority in the higher education perceives that the success factors for the skills of the IT would be responsible for the successful change in the educational organizations.

The accomplishments can be achieved only when these three critical factors in the educational organization go hand with hand among each other. The corresponding structure of the information system would ultimately develop and monitored that coordinates these sets of activities with the alignment with these three critical factors. The first issue is the organizational type and its status approach to the IT critical success factors in the higher education. However, this issue is not as much significant as the issue of the environmental uncertainty while aligning the BITA in the higher education organizational structure. However, the size of the organizations in higher education has not to do much with the alignment or not affecting much the alignment of the BITA and that is according to the expected results mentioned in various researches in these topics. 

The explanation given for this rational is clear that although the educational organizations vary in the size or the enrollment of the students in the organization, they still possess the same sought of organizational structure or the undifferentiated educational organizations practices like the validation or selection the courses the students want to study.  The projects could be assigned by the higher education with the IT approach to the appropriateness of the funding and the business dimensions in the higher education. The higher education in some parts of the world as both the sections of the small institutions of music or fine arts and the high-level research and the teaching universities as well (Michael, 1997). The environment in all over the world plays an effective a un replacement diversion that cannot be predicted. The contemporary settings of the business with regard to the IT challenges they have to face is enormously revolutionaries. The surprising part is that when and how in the higher education system, the model of the dynamic variations is adjusted. For an instance, it is commonly said in the literature review that the harmony among the IT sector and the decision-making choices must be present in the higher education (Lock, 2016).

when we talk about the countries like the USA it is very essential for the students studying in the university receiving the higher education, the training is the significant prospect that completes the worthy of t he degree. The main proportions of the training in the IT departments and the business critical success factors allow the trainers and the students to have the critical analysis in how the organizational success through the skills of the IT and the business is necessary. the most important concept in this perspective is that the elementary techniques that are  bow a day’s been involved by the business giants in their respective industry through the dynamic ease of the core capabilities ort resources in the human resources division are redirecting towards the technological revolutionaries framework

If the organizational culture were strong for the institutions, which are indulged in providing the healthy non-fragile IT skills for the technical knowledge seekers the growth of the institution would be in the hands. The major thing that one cannot miss while implanting the BITA in the higher education is the planning and monitoring phase of the BITA in the system. It is very important for the researchers and the authoritative personnel to check the right modules depending upon the uncertainty of the system while enforcing the technological framework chosen by the businesses in their business strategy. the main concerns of the higher education providers is that the return on investment ROI would be at the optimal point while incorporating the information system in the institutions. however if the higher education feel at some point that the return on investment or ROI is not in the prolonging range of the optimal level, the difficulties could be the ultimate result (Wu, 2008). 

Now the point that must be considered at the serious way is that the returns that any organization conceived always time consuming process and it is the universal reality, the mission of the organizations in the majority of the industries is the fruitful proofs in this scenario. The turning point of consideration through which the game starts changing in the higher education comes when the major stakeholders have the conflicting viewpoints in the information-sharing phase. The one cannot judged the symptoms of the effectiveness of the BITA in the higher education process until one should be aware of the all the detail study and the knowledge seeking procedures. Consequently, what should be the great decision-making influence over the entire debate that could be done thoroughly? However, in this very case there are no as such turning threats, which can provide the major harm to the entire educational, technological, and the corporate world by the non-stigmatic abilities. The luxurious choices in the advanced educational processes would be the very suitable choice if the major breakthrough in the world of valuable IT culture. The knowledge of both the directions of the picture is the core need of the situation when the communication and the response of the individuals would be at the highest or maximum efficiency in the mean terminologies of the BITA.

Significance of the BITA

The studies have shown that if the alignment of the IT and the business in the higher education is put together, the remarkable results could achieve. The research has not received the significance in the alignment of the IT and the business in the higher education. The increased organizational performance would be the ultimate result if the IT core capabilities with the suitable integration of the business skills were become the integral part of the systematic approach of the higher education in the various institutions sin all over the world (Jim, 2015).

However, the size of the organizations in higher education has not to do much with the alignment or not affecting much the alignment of the BITA and that is according to the expected results mentioned in various researches in these topics. The duty of the business decision-makers is equally strong as the duty of the IT professional provide with the sufficient resources of the technical training. Therefore, the clear side of both the pictures is the part of the analytical analysis while aligning the business and the information technology in the higher education. It is commonly said in the literature review that the harmony among the IT sector and the decision-making choices must be present in the higher education (Lock, 2016).  The search for the solution as the BITA in the higher education would ultimately lead to the organization towards the improvement in the investments done in the technology advancements in the institutions (Newman, 2015).

As we can see that, there is much importance of the BITA in the higher education sector as we have review the literature. This study is been conducted so that it could be shown the significance and the details of the previous works that have been done and what needs to be done now. We have seen the extensive literature in the past that how BITA is been implemented in the different sectors and how it should be implemented in the Higher education sector so that the positive results could be found out. Further, we have seen that there are positive results in the HE, which have implemented BITA fully, and there is some of the lacking in the institutions, which have not implemented it fully so there is a gap and that needs to be fulfilled. The further studies and implementations should be there so that they could have the competitive advantage. 

Let us try the different methodology through which the ultimate goals in this approach of the BITA would achieve in the higher education could be made. The one source is obvious that the resulting intervening variable is the importance of the role of the information technology towards the mutual ignoring methods. The sense of the business version in the higher education is not the claim of the top-level management but in the comprehensive way, the results would be the right sizing. The term Holy Grail is used for the organizations of the education, which are authentically integrating the business strategy along with the vision, or the mission of the organization and the   IT culture of the higher educational organization. The main difference in both these sectors is the integration according to the corporate or the business culture of the IT industry. The logical reasoning is the liable relevant technique in which few of the characteristics are the binary part of the systems that we need no to analyze. The first distinguishing reference point is the transformation process of the business model as the effective tool or resource through the alignment of the information technology or the information systems (Hotchkiss, 2016).

The tool, which is considered to be the most reflexive in the transformation of the transformation of the businesses using the valid IT structure, is the core demand of the contemporary choices of the higher education contextual models. The services provided to the major stake holders such as the customers in the marketing division of the business is evaluated on the external dimension and the internal dimension so that the capturing of the resources at the nice assertive side (Gu, 2012). The communication between the business and the important stakeholders would refine in the highest capturing pint and the chance of the occurrence of the loss would very lowest. The next important feature is the rotation or the job rotation through using the resource of the HR within the organization in which the idea of the cross-functional team of the IT and the corporate professional are changed their positions on the regular intervals. The interchange of the IT personnel at the significance position in the higher education system with the personnel of the business critical factors handling personnel’s would be the smoothening impact in a very positive way to the organizational success. 

There must be the minimum requirements of the knowledge that must be possessed by the IT experts in context to the business critical factors and similarly the knowledge minimum criteria must be possessed by the business experts of the knowhow of the IT tools or techniques at the sufficient level in the higher education systems. In this way, the communication, which would be achieved, is the highest trademark of the BITA result in the higher educations. The alignment by adopting these characteristics the alignment would be completed in a way by the interrogative style of the harmony between the two important units of the higher education, which are the IT, and the business division. In short the attributes mentioned in the above discussion are the pre-requisites of the achieving the true sense of the alignment between the IT and the business in the higher education (Kretovics, 2010). The goal of this review paper would be closed to the meetings requirement in the alignment of the IT and the business in the educational organization providing the higher education.  The next attribute of the BITA in the higher education is that the awareness to both the department of the IT and the Business professional, which is the very significant factor, mentioned in various places of the literature in context to the making money.

The startup approach of the training and the awareness is very important in all the levels of the higher education whole system analysis to have the sound version of the awareness and the training providing facilities for both the IT and the business personnel in an organization. when the employees working in the organization would able to know the methods, approaches and the view points of the making o generating the optimum revenue from the skilled approach of the IT skills and the knowledge business development or growth is at the highest returning point stake. The money for any organization is the most important indicator for the growth in the institutions or organizational dynamics and therefore thee employees of the company in the higher education organization would able to know the pros and cons of the spending the useless and the beneficial money in the form of investment in order to achieve the organizational success. In the rest of the characteristic, we have analyzed the analytical reasoning such as the vibrant policies that are the most part of the corporate culture especially in the less developed countries, which are always willing to provide the higher education to its citizen in the well-organized form.

(Sledgianowski et al, 2002) created and approved an instrument to quantify development of IT business arrangement in light of SAM. It utilizes the six classifications for surveying arrangement. Taking into account how the association scores in these classes, one of the five levels of vital arrangement development is doled out to the association. The five procedure levels, are (from most reduced to most noteworthy) Initial/Ad Hoc, Committed, Established Focused, Improved/Managed, and Optimized. Other than serving as an instrument for arrangement appraisal SAM is additionally a storehouse of best practices. Organizations ought to embrace the best practices in SAM to enhance their arrangement.

Since the SAM instrument had not beforehand been cross approved, our study took a corroborative way to deal with cross-accept the instrument utilizing another example. With a specific end goal to consider the relationship between IS key arrangement and the six-arrangement development builds, we expected to look at the exploration model. As of now, no exhaustive structure has been utilized to inspect the components affecting a company’s IS key arrangement. The reason behind our examination model is that different studies have analyzed connections between IS vital arrangement and correspondence, coordinated arranging practices, IT asset distribution, authoritative culture, and shared space learning. These builds are predictable with the arrangement development develops; consequently, we trust that by inspecting the relationship between the six arrangement development develops we will build up a far-reaching model of the forerunners of IS vital arrangement.

The essence of the position that these educational institutions in the less developed countries choose should be according the vibrant culture dynamics like in all over the world. the practices in many of the educational organizations in the world for the higher education is that the vibrant organizational culture enforces the IT skills and the skills for the business operations are the equal interchangeable at the times when the organizations required the results from the system. Therefore, the great advantage of the vibrant corporate culture in the education sector is that the unity of the information towards the internal matters of the organization and the external approach or the inter-industry is the same (Yang, 2003). The lasting effects are the gigantic for the higher education when they made the mind choosing the option of the IT alignment with the business sector of the higher education. The establishment of the decision-making skills among the employees and the controlling of those decisions in the most effective way is the relevant or the useful part of the discussion in the alignment of both the IT and the business in the higher education. One cannot denial of the fact that the latest tools in the decision-making approach are comprised of the redesigning of the work for the higher rate of the accomplishments under the given circumstances. The governance of their business partnerships and the IT governance must also have the integration among each other so that the solid consolidation would be found in the symmetric information transformation process (Hotchkiss, 2016).

Recent advancements and technologies

As we have seen that it is not an old concept in this sector and that is the reason the implementation of BITA is not been much implicated in the sectors. If we look on the Higher Education then there is a problem that there is very less institutions, which are fully observing the BITA in the institutes. However, some of the advancements can be seen in this sector such as IT usage fully as everything is online and the business decisions and the analytical part are connected to the IT. Some of the technological advancements are also there so that there would be no problems related IT (Hotchkiss, 2016). The best technologies are been introduces but still what we see is the technologies are still far to go. We have seen that the technologies, structure and the processes are the three main components of the businesses. If they are integrated then it will be easy to do the operations of the business because everything would be linked and will be easy to go on with the advancements.

Future directions

As we can see that, there is much importance of the BITA in the higher education sector as we have review the literature. This study is been conducted so that it could be shown the significance and the details of the previous works that have been done and what needs to be done now. We have seen the extensive literature in the past that how BITA is been implemented in the different sectors and how it should be implemented in the Higher education sector so that the positive results could be found out. Further, we have seen that there are positive results in the HE, which have implemented BITA fully, and there is some of the lacking in the institutions, which have not implemented it fully so there is a gap and that needs to be fulfilled. The further studies and implementations should be there so that they could have the competitive advantage. 

Conclusion

If we conclude the discussion then we can see that the different aspects of the business and IT alliances have been discussed. The history has been discussed and the pioneers of the study have been mentioned in the paper. Further, we can see that the strategic fit model have been explained fully so that there would be no confusions left and it have been explained in detail as well. If we look in to the introduction, the business and IT alignment have been discussed many times. Te educational sectors have been discussed that what the impact of BITA on the educational institutes is. As we have seen from the different studies, we come to know that there are many institutes, which have alignment with the educational institutes. However still a big gap is there which do not have IT aligns with the educational institutes and which is hurting them as they can be in the better position if they would include in the sector and the institute.

The technology along with the business expertise in the educational sector is the vital source of attaining the competitive advantage within the industry of the academia for the specific organization. The creative model in this perspective is the great exemplary characteristic for the integration of the intra organizational sources. The synergistic model in which, the new version of the leveraged competitive advantage is achieved for the education institutions in the regard of the higher study, Meeting the targets of the goals or objectives of the organization through the alignment process, of the IT resources and the business techniques. The model of the cross sectional approach, of the collaborative teams in the view of highlighting the relevant resources, is in the core positions for the distinctive activities, of the organization. The concept of creating the value in the business model of the higher education institutions is all depending on the alignment of the technology with the useful corporate knowledge of the resources of the organization, which are the workers or the employees. The strategic alignment of the IT and the business in the higher education is the result of these factors.

We have further seen that the impact and the relation of the BITA on the higher education. We have seen that there is a great impact as the different studies have been reviewed and much of the data have been extracted in this. We can clearly see that most of the higher institutes have been using the Alignment between the businesses and the IT and they are much successful in this as they have the latest technology and they are doing good and up to the mark. Further, we have also experienced that some of the institutes are not up to the mark in this sense as they are not using any BITA in their higher education institutes and due to that, they are not performing to well as compared to the other persons in the higher education which are aligned with the IT. 

The higher education has the huge need in the contemporary context of building the portfolio management in which the business and especially the IT skills are the core positions of the significance in making the suitable and the right investments. The organizations of the higher education should possess the proper analytical and reasoning planning about the placement of the portfolio regardless of the size of the organizations that as it is already stated in the above discussion about the process and the structure of the higher education is more or less is same. The change of management should be adjusted according to the strengths and the weaknesses that are the viable tool in order to address the changes in the environment. The span of control in the higher education settings must be according to the projected sources required in the alignment process of the IT with the business. No other choice would be acceptable at any level from the experts in the relevant field, because of the dynamic view of the external resources.

If we see that, we have discussed the implementations of the BITA in the higher education sector and different sectors have been discussed too. We have also seen that the institutions, which have implemented the BITA, are more successful than those who have not. As the integration and the IT is been involved all the systems work more efficiently and the competitive edge is been gained in this case. However, there is very few works done in the higher education sector regarding BITA. It needs to be improving so that there would be more integration and this sector would become more and more successful in the coming time.   

There are different aspects, which needs to be considered while doing alignment. There are many key elements, which needs to come in between the data. The governance needs to be checked at the both ends so that there would be no problems at all. All the systems and the stakes of the owners need to be protected. In the scope and the architecture the nature of the business is taken care of and the structure that is been prevailed in the system needs to be checked and the important thing is to look after at both ends. There should be good means of communication in between the both business and the IT should be implemented correctly so that there would be no problems in the system and it could be communicated effectively.

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Quest

Essay

Thinking As a Hobby written by William Golding

This is the interesting thing that human develops his through and ideas by his interactive participation in his culture and society. Considering this, it is true that our thoughts and ideas reflect the culture however the preferences and ideas somehow changes within the time but overall they remains centered around the society and culture. In the following poem the writer has addressed the same thing as he argues that in the reflection of the society and culture we accept the things without analyzing the facts.

Thinking As a Hobby is written by William Golding in which he describes that three levels of thoughts by telling the practices and attempts of communication. In my opinions, the author has greatly explains the grade one people. The author describes the story with the help of narrator and then reaches on the conclusion. The conclusion is based on the thoughts of the author that elaborates the nature of human being. The childhood of the narrator is related with the teachers that were hypocritical. He describes that the teachers were not act upon the things that they were said. There were contradicts in his sayings and acting. While he reaches in his teen age there were the differences between religious beliefs. He had a girlfriend in the teenage her name was Ruth. He says that there are three types of thinkers. Grade three thinkers believe at their feelings. They think with their feelings and emotions. They think without analyzing. They do not use mind and brain in making any decision. They listen of their hearts and emotions. Grade two thinkers have contradicts in their actions and words like their teachers. Grade 1 are the most extraordinary people in society. They people use brain and mind in making decisions. They use logic and have analytical approach. They pay less attention on feelings and emotions. The author was very curious to find the people of grade one. Finally, he met the person one day, in oxford, near a small bridge. He then concludes that the grade three people are called immature and grade two people are called incomplete but the grade one –people are called extraordinary people in the society. They think first and then act in every matter of the life. They are remembered for their outstanding qualities for years.

It is concluded that a man should try to become and to be in the list of grade one because they are the great persons of society. Through this essay the core purpose of the writer is to encourage the reader to become the people of the grade one who are extraordinary because they think first and then they act and their thinking is based on facts and figures as they do not believe about the things without analyzing the facts.

Poetry

Holy Sonnet 14 written by John Donne

The relationship of human with the God is an unavoidable thing as everyone believes on God but in different ways.  Subsequently, in the following poem the writer has addressed the human relations with God and he described this relation by addressing and describing hymn and pray.

Holy Sonnet is written by John Donne in which the speaker direct asks with God that to intensify the struggle to restore the soul of speaker. After reading the poem it is said that the poet is beautifully describes the pray and hymn. He direct talks with God to purify his soul’ he knows that his soul is embodied in the sins and he feels burden due to sins and want to free from his soul from sins.  It is not enough to knock the door only. The speakers ask the three –person to God that betters his heart. The poet wants to better his soul. He requests to God that make him a new person and change his heart and soul. The poet wants to get rid of his sins to make his soul new. He said to God that enters in his soul furiously and angrily. He said to God that he deserves of all the punishments. He is not willing that he is treated gently and politely. He says that he is ready to face all the punishments because he has committed all the sins but now he wants to purification to make his soul new. The speaker of the poem admits and agrees with the belief that he loves God very much and he desires to be loved by God. The poet asks God that untie divorce and break that knot again. He says that he would never free and will never be chaste and purify until the God ravishes him.

It is concluded that the poet has used many literary figures in the poem to explain the meanings of the sense. The speaker is truly wanted to purify his soul from sins. He desires to wash his soul and to make it new for good deeds and to acquire God’s Love. Through this poem, the writer wants to convey that there is always a door open from the God but the condition is that the person is determined to improve his actions and seek for the true forgiveness.

Drama

Oedipus Rex is written by Sophocles

Sometimes, the misunderstanding and the social evil forced human to do something he even cannot think about to do and when he realized about what he did he has left nothing than feeling sorry on what he did. Similarly in the play Oedipus Rex, the writer has addressed the effect of social evil that tragically and redundantly caused a great tragedy.

Oedipus Rex is written by Sophocles. After reading the drama, It is analyzed that the play is a grand masterpiece of the writer. A great play opens when Thebes is struck by a plague. The people of the state said to king Oedipus to divide them from its horror. Antigone and Ismene are the daughters of the Oedipus. Their brothers killed one another in a war. The play has never surpassed for the raw and the horrified power with which its hero fights to answer the eternal question like who am i?

 The story of the play is about a king that who acts in ignorance, kills his father, and marries with her mother. It is a Greek tragedy. It describes all about the king that his son kills his father, snatches his wife, and marries her.

The play is great work of art that describes the situation and condition of the Greek. The play is absolutely the description of the Greek traditions. It explains the issues and problems of the Greek period of that century. It is great tragedy and the writer uses the literary figures in his writings to explain the real sense of the tragedy. 

It is concluded that the play is a great tragedy and describes the Greek period. The writer has beautifully presented of all the elements in a sequence. There are lot of things and points that are worth mentioning. After reading the play, it is clear that it opens the bitter reality of the society and that society is involved in many crises that are unfolded. Through this novel the writer wants to convey a message that social evils are the major threat for the society as they forced the human to do what he can even never think about to do.