Preview

Electronic Exchange Of Value, And The International Success Of Visa By Dee Hock

Good Essays
Open Document
Open Document
832 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Electronic Exchange Of Value, And The International Success Of Visa By Dee Hock
Dee Hock is the founder and the CEO of the Visa international who developed global system for the electronic exchange of value in a single form of business organization. The international success of Visa according to Dee Hock is through the approaches he used based on integrity, motivation, capacity, understanding, knowledge as well as experience. Therefore, without integrity, motivation is dangerous; lacking motivation, capacity is powerless; lack of capacity, understanding is limited; devoid of understanding, knowledge is meaningless hence not including knowledge experience is blind.
The term chaordic as used by Dee Hock implies the tiresome structure of innovations and operating experiences he used while inventing the Visa credit card.
…show more content…
The community is composed of what is not measurable for which no records kept as well as recompense. Nonmonetary exchange of values arises from altruistic motives whereby self-interest is inseparable since it is connected with the community interest. According to Hock, community is not all about profit but it is all about benefit. Therefore, the community should to report any kind of fraud occurred to the Equifax, TransUnion and Experian agencies for help. Further, he urged the community at large to scan the document of the Visa card in order to have a backup in cases they misplace the …show more content…
Majorly, it facilitates electronic fund transfer globally. Actually, Visa provides financial institution with Visa-branded payment products that they use in most cases to offer credit, debit, prepaid as well as cash-access series to their customers. Visa has operations across different countries since separate membership entity license the trademarks for issuing of the Visa cards. Visa card is governed through basic laws since human being had the ability to receive, process as well as react to the information. The ATM operators’ rules effectively in order to fix ATM access

You May Also Find These Documents Helpful

  • Good Essays

    1. To qualify as a multinational corporation, a firm must meet all of the following criteria except:…

    • 2301 Words
    • 10 Pages
    Good Essays
  • Good Essays

    Community is a web of relationships between humans who share common interests and characteristics. Albert Camus explains how, as humans, we live to be a part of one another and to share responsibilities. Although, there are those who wish to become absent from the constant hassle of society. These people wish to roam incognito without having to be responsible for anyone but themselves. This divorce from human relationship can become dangerous for the person as well as the surrounding people. Scott Russell Sanders makes a good point that, “...if we make a career of being unaccountable, we have lost something essential to our humanity, and we may well become a burden or threat to those around us.”…

    • 842 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The three characters that relate to me are the three characters I aspire to be.The three fictional characters that most represent my personality are Pig from Back at the Barnyard for his/her companionship, Rick from Rick and Morty for his/her way of questioning things, and Naruto for his/her determination.…

    • 338 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    After reading “The Story of Foreign Trade and Exchange” I began to think about my company and the manufactures that we acquire our items from. We normally receive items from a company in the United States because they are local and the shipping is not as expensive. However, on occasion we import from a Honduran company when the United States company can’t produce as fast or if we need a bulk order. Our biggest problem recently has been getting the jackets we need fast enough for the Department of Corrections and their new hires. The new hires usually consist of 150 to 200 people all getting one jacket a piece. Both companies’ trade and exchange goods with one another to comply with customer needs in their country. The United States company does not have an absolute advantage in pants or jackets that are ordered in bulk, which is my company’s biggest need. The Honduran company has an absolute advantage in jackets and pants because it doesn’t take them long to produce both items in bulk and in an expedited time frame. The United States company would have a comparative advantage in pants if they stopped producing jackets and just made pants because they would produce more in a decent time frame and complete the bulk order. As for the Honduran company, they have a comparative advantage in jackets because it doesn’t take them long to produce jackets in the bulk that is needed if they stopped making pants. This analysis for both of these companies is very important for my company because when we have a demand for pants and jackets we know who we need to confer with for a faster turnaround time. If these two companies would do what the case study suggests and produce what is a comparative advantage for them, it would benefit them as well as their customers, including my company. One of the benefits would be the stimulation it would provide to the economy, the producer and consumer markets, in addition to…

    • 356 Words
    • 11 Pages
    Satisfactory Essays
  • Good Essays

    In Cold Blood

    • 382 Words
    • 2 Pages

    Few authors have the skill to express their view of a setting without straightforwardly telling the audience. In this small passage from In Cold Blood, Truman Capote very eloquently does just that, describing the look and feel of Holcomb, Kansas through words. With Capote’s use of many elements like figurative language, imagery, and detain, he reveals his original but mysterious views on the scenery of Holcomb. All while describing this content town, Capote builds up for a drastic change to end the excerpt.…

    • 382 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Credit Card Fraud

    • 729 Words
    • 3 Pages

    Credit Card Fraud poses one of the greatest risks to businesses nowadays. As card business transactions increase, so too do frauds. According to the Jamaica Observer dated March 2010 “The National Commercial Bank (NCB) yesterday revealed that it lost more than J$100 million to credit card fraud last year, put merchants on guard against what it said was a rising problem”.…

    • 729 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Owens, Michael A. International Trade in Education Programs, Goods, and Services. Encyclopedia of Education. 2002. Retrieved February 04, 2013 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3403200338.html…

    • 1137 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    ATM transactions are ideal for money laundering because launderers can use an account in the U.S. to deposit funds within the U.S. and have another person withdraw (i.e. domestic terrorist) them outside the country. Risk with ATMs involves verifying the identity of an individual for customer that may be out of the financial institutions targeted area. Transactions are usually instantaneous and the destination of cash is difficult to trace, especially for individuals smuggling funds to offshore accounts.…

    • 530 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    In a free market economy, individuals/corporations are allowed to own property and other assets. Ownership provides incentive for people to work hard, be innovative and creative; all while hoping to attain additional wealth. Sequentially, the desire from individuals/corporations to accumulate wealth enhances the whole economy and generates economic growth. In contrast, in a state-directed economy, individuals/corporations are not allowed to own substantial quantities of property and other assets. The objective of a state-directed economy is for everyone to work for “the good of the society.” Although this seems like an honorable ideal, a system that asks individuals to work for “the good of the society” rather than allowing individuals to gain wealth does not provide a great incentive for people to work hard, be innovative and creative. This leads to state-directed economies typically generating less innovation and less efficiency than free market economies.…

    • 1589 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    In the year 139 B.C.E., the Chinese emperor Han Wudi sent an envoy named Zhang Qian on a mission to lands west of china. The emperor's purpose was to find allies who could help combat the nomadic Xiongnu, who menaced the northern and western borders of the Han empire. From captives he had learned that other nomadic peoples in far wester lands bore grudges against the Xiongnu, and he reasoned that they might ally with Han forces to pressure their common enemy.…

    • 2446 Words
    • 10 Pages
    Better Essays
  • Good Essays

    Define True Identity

    • 479 Words
    • 2 Pages

    How can one think of strengthening and developing his/her community when one cannot even rely on the knowledge he/she has of themselves? Initially, one cannot make perceptions of things he/she is not aware of. Notably, society is changed by individuals who think outside the box. Furthermore, individuals continue to discover and delve deeper into the unnoticed delights of this world. Therefore, individuals must seek to find their true identity in order to disclose what they have to attribute to their communities.…

    • 479 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Importance of Community

    • 477 Words
    • 2 Pages

    A sense of community is important to establish peace and harmony among the society. The division of work, feeling of association, togetherness, and cooperation - all these help in establishing a healthy atmosphere filled with unity, harmony and friendship. The sense of a community is also important in fostering a feeling of intra-national as well as international brotherhood. Let us discuss these points, in an absence of which there will be complete chaos in the community.…

    • 477 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Focus Charting - is a method for organizing health information in the individual 's record. It is a systematic approach to documentation, using nursing terminology to describe individual 's health status and nursing action.…

    • 788 Words
    • 4 Pages
    Good Essays
  • Good Essays

    To succeed in today’s global marketplace, exporters must offer their customers attractive sales terms supported by the appropriate payment method to win sales against foreign competitors. As getting paid in full and on time is the primary goal for each export sale, an appropriate payment method must be chosen carefully to minimize the…

    • 734 Words
    • 3 Pages
    Good Essays
  • Good Essays

    It provides some attractive features for the customers than those offered by traditional banking system such as to open an account; it takes less time than traditional system. Other services offered like free fund transfer and free payment cards etc. In case of traditional banking system a fund transfer, for instance, used to take several days in case it takes several months whereas electronic banking is capable to perform the same operations within few seconds. Customers are getting better services now because of the development of ICT in E-banking and so bank now can perform its function with high speed and accuracy.…

    • 1573 Words
    • 10 Pages
    Good Essays