British government is bound to hurt the economy

A report was published on Wednesday that heightened the economic implications of Brexit on various segments in the British economy. This report assessed an array of possible outcomes from the Brexit plan. Consequently, the main Bank in Britain published its own assessment of Brexit.

All assessments indicated a negative outcome of the Brexit plan. They show that the UK would fall into a far worse economic situation if it were to leave the European Union. Although no quantifiable impact has been placed on the deal between Theresa May, the Prime Minister and the European Union, preliminary studies show that even in the most optimistic situations, the United Kingdom stands disadvantaged compared to nations left in this bloc.

The UK Treasury Chief, Phillip Hammond told BBC confirmed that the economy will be a bit smaller, but doing the deal as the Prime Minister had suggested and negotiated, the outcome will be more manageable.

Despite Mr. Hammonds statement, official estimates show adverse economic effects on Brexit; Under any circumstance, Britain’s decision to exit the EU (European Union) would leave it poorer. Hammond continues to comment that, according to principles of economics, staying in a single market gives a country some economic advantage. This means that Brexit will shed off some economic advantage.

The Bank’s assessment points out that, Prime Minister May’s plans could raise trade barriers between the UK and the nation remaining in the European Union. This is set to hurt Britain’s economy. With only 4 months left until the deal is signed, we cannot ascertain if Prime Minister May will provide a sober exit from the European Union.

The final deal is predicted to give businesses some certainty in the coming two years. However, Prime Minister May still needs to seek approval from an adamant parliament. Consequently, a less tight agreement is still needed to manage the relationship between the UK and nations left in EU.

A group championing for another referendum on the Brexit decision has commissioned an analysis report that shows that the UK economy will be 4% worse off by 2030. On Monday, the NIESR (National Institute of Economic and Social Research) pointed out that additional trade barriers by the UK would hamper trade by discouraging investments.

In the event that May’s plans fail, alternative plans include exiting the EU minus a deal or another referendum or general elections in Britain. The most significant decision is to ensure trade consistently flows as stated by Hammond on Sky News.

Futuristic analyses indicate that May’s plan allows for a transition period in which most trade rules and guidelines will still be the same for many companies. This would also infer a close relationship between the European Union and the UK in terms of financial services, transport, and energy.

Estimates by the government are based on the assumption that during the transition period, Britain is free to sign trade agreements with other developed economies like the United States. However, this is not guaranteed. Economists forecast that the worst possible exit might be a messy exit that would drive UK’s economy into recession.

The government also points out that leaving the EU minus a deal could decrease UK’s economy by 7.7% in 15 years to come. This outcome is based on the assumption that there are no changes in trading arrangements and immigration. If these two factors change, the effects could be much worse.

The British Industries in unison highlights the government’s assertion that leaving the EU without a desired deal will be a bad outcome. This goes ahead to put off insane ideas that a crashing exit would do uncontrollable harm to UK’s economy.


Management System Audit

For a long time, a great many people trusted that review is just connected with issues identified with cash. While it might be valid on a fundamental level, in any case, we will widen the idea of review by taking a similar guideline in an alternate application – quality framework review.

Auditing is a method for social occasion proof about consistency with specific prerequisites. These prerequisites can be in any way similar to pertinent systems, measures or understandings where an association buys in. Nonetheless, these necessities may likewise include laws and controls including prerequisites of other outside gatherings, who may have business relations and enthusiasm to the association. In this way, as a gathering who has enthusiasm for the association, they have to guarantee that each part of the association’s procedures fit in with its quality administration framework. What’s more, dealing with the arrangement of value is in this manner one of the association’s organizations.

Inward Quality Management System Audit

Each association must guarantee that their quality administration framework is executed all through that is the reason the need to guarantee such is by methods for a quality administration framework review. Reviews are completed by auditors chose inside the association (inner review) however who are autonomous of the territory or capacity being examined. Nonetheless, reviews are restricted to inside as well as be done remotely.

Three Types of Audit:

  • 1. First Party Audit
  • 2. Second Party Audit
  • 3. Outsider Audit

First Party Audit is a review led by the auditors chose inside the association (inward review) however who are free of the region or capacity being examined. The Second Party Audit is completed by outer gatherings who have business relations enthusiasm with the association ordinarily, a client. Outsider Audit is done by offices autonomous of both association and client. This Third Party Audit can decrease or totally dispense with the requirement for a Second Party Audit (whenever picked up confirmation).

There are methods for leading a review. This is either by Vertical Approach or Horizontal. A vertical review is one methodology of review where one office or capacity is inspected against all components of guidelines or technique. A flat review is another review approach, where all divisions are inspected against one component of the standard or technique.

Inward Quality Audit Structure

A commonplace Internal Quality Audit Structure (as required by ISO 9001) is made out of:

  • 1 Management Representative
  • 2 Internal Quality IT network audit
  • 3 Management Review Body
  • The structure needs the help of restorative activity framework with the end goal to be compelling.

Administration Representative

The Management Representative (otherwise called MR), is named by the association’s best administration with the obligation of the everyday running of the quality administration framework. The MR is likewise in charge of choosing, preparing and overseeing auditors, booking and checking inside reviews. He is the connection between the working quality framework and the organization administration through administration audit work. The MR Bring to the consideration of the administration repeating issues and those constant issues or those can’t be managed at any level and may hold other, however not clashing jobs.

Audit Cycle


As much as would be prudent, auditors must be chosen from the capacity secured by the quality administration framework. This is to keep up a certain level of auditor’s advantage and responsibility for auditing process. The auditor must be free of the capacity evaluated to stay away from one-sided judgment.

What is the base number of IT network audit that an association must have?

The Review Body is made out of Top Management, Management Representative and head of different divisions. The Body has an obligation to examine inner review results amid administration survey. They should likewise survey routinely the execution and proceeding with the importance of the quality administration framework. Without audit at this level, quality framework ends up insignificant to the business, unbendable and bureaucratic.


The industrial revolution – green tech

The industrial revolution has transformed people’s patterns of work, lifestyles and living standards to a whole new level by shaping the basic way of life of societies. Although industrialization led to stronger economies, it also changed people’s lives. It was the basis of many drastic changes. The process of urbanization is a critical element to explore. People left the country to move to the city to work because more jobs were available in the cities as factories grew. The family structure also had significant changes. People would move more often. Women and children would also work and cause problems at home.

The industrialization also caused great health concerns. Safety was the problem of noise, pollution, dangerous machinery and unreasonable bosses. The idea of job alienation changed traditional work tools. Hard work, nature and pride did not exist anymore as thoughtless robotic work gained the upper hand. Workers were wage slaves who were paid very poorly for long hours. The days with the seasons that dictated working hours were over. Industrialization was a new era of time that changed society so much that a culture of change was pressing for the individual.

However, the fourth industrial revolution will have a big impact on the business world. Development and prosperity rest on four platforms: customer expectations, product improvements, collaborative innovations and organizational forms with help of global IT providers. Customers will be the epicenter of the business. The increasing digital transparency in the business world will lead to a big change in the world of customer experiences, data-driven services, and asset performance. The rise of new global niches and business models will definitely require a revision and replacement of existing talents, culture, and organizational forms. Business leaders need to understand their changing environment, challenge the assumptions of their operational teams, and tirelessly and continuously innovate to be in the changing league.

The recent development in blockchain has encouraged the people and organizations that are related to various financial activities, directly or indirectly. You should also feel the pleasure by the recent report of World Economic Forum that claims that 10 percent of the world’s GDP would be stored on various block chains or the blockchain technology. This claim is not a joke, and that is why everyone involved in such a business must consider this claim seriously. However, people all around the world are still not fully aware of the terms, and they still require some idea as to what this technology does.

Electric vehicles (EVs) have become one of the most popular vehicles that people are buying nowadays. It is just perfectly a good substitute of a cycle, auto-rickshaw or any kind of automotive food – chain. EVs are not only become popular in urban areas but it has also gained the same importance in the rural areas. EVs on each passing days are grabbing more attention not only the buyers but also the manufacturers are introducing new functions which can be associated with the EVs for better performance. It’s not only about the battery operated cars but also battery operated rickshaw is much hype. The reason is simply that not only it is a cost-effective business for the manufacturers but also it is eco- friendly.

The concept behind the smart home is that an automation system is capable of operating systems around the house. The variety of possible options is considerable and includes environmental systems (lighting, heating, air conditioning, etc.), entertainment systems, individual appliances and home security systems. If you want to have a truly energy-efficient home in the 21st century, you should at least think about making it a smart home. An intelligent home uses advanced technology to monitor and reduce energy consumption at home. Although there are some people who purposely build smart homes, the majority of Americans still do not make that investment. Nonetheless, even the average American begins to implement smart energy-saving technology, and eventually, the whole house will take over and become a way of life. In other words, smart homes are gradually sneaking in on the average homeowner.


Solar panel


Cleantech is a generic term for a group of emerging

found in various industries such as energy, water, manufacturing, advanced materials, and transportation. The most common example of cleantech would be the use of solar energy, water filtration, industrial process control and hybrid electric vehicles. Cleantech is also a second-generation improvement over the green technologies, as it not only protects the environment but is also cost-effective, driven by the market and attracts venture capital funds. The commercial point of view is an integral part of this benign technology, which is a sure factor in its growth.


Oyster – London’s transport network

As a way to help customers, the Transport for London has been recommended to assist them in repossessing their share of cash modeled by dormant Oyster cards as the system marks its 15th anniversary.

In summation, balances and deposits amounts to 321M. This is a result of cards that have not been utilized for more than a year as shown by prescribed statistics. Subsequently after its foundation, the Oyster always granted people the opportunity to move freely through London’s transport network. To accomplish this, Oyster uses radio-frequency identification technology (RFID) technology.

The card is made using integrated circuit comprising two principal components, a petite microchip that stores data and an antenna that is capable of transmitting and receiving relevant data. The RFID tubes which are disks in bright yellow color are found on every station gate. They also possess a two-way receiver. A pulse of radio waves are sent by the reader immediately the card is brought near the reader. By this, the chip is activated, this propels enough power for the reader to ascertain the cards serial number and the bearing of a slate or pay-as-you-go balance.

The amount left on Dormant Oyster cards is gliding as people alternate to contactless payment. Using advertisements and information campaigns TfL has continued casting us but remain improbably quiet about the cash mountain which is the main issue. TfL should commit their time by assuring the general public of how they could get back their money.Since the launch of Oyster cards back on 30 June 2003, it is estimated that more than 100 million individuals have used it. Public transport payment has been revolutionalised by the system.

This has been seen in areas like Tube, rail, bus, boat and cable cars. By capping fares individuals would never pay more or less as compared to those using paper tickets for their days travel. Users are capable of recovering the 5 initial deposits that they paid for their card and a also 10 pay-as-you-go credit. Nevertheless, not all users are willing to do this and this has led to the TfL remaining on an increasing fund of cash piling up on dormant cards. The figure has amounted to nearly 100m in the two yesteryears, from 223m in August 2016.

Due to all the changes that have happened in the system the transport authority is designing a good plan amounting to 1 billion shortfalls the coming year after a decline in passengers. Work patterns and rise of internet shopping has led to the decline in these sectors revenues. Upgrading programs of the several Tubes has been remitted after much loss of a government grant amounting to 700m a year.

This also comes in connection with due cutting of substantial bus services. Shashi Verma. TfL`s Chief technology officer said that the Oyster card is an essential part of London and we1re delighted with how popular this innovation has become in the last 15 years. The system has also changed the public transport in London and has made it become a recognized system in the world and aided in the providence of not only more but affordable and comfortable travel for everyone.