How to Write a Business Email (Updated for 2019)

How to Write a Business Email (Updated for 2019) Business emails are a pillar of modern communication. On any given day, the average office worker receives over 80 emails. That’s a lot of communication. While we send a lot of emails, many of them are not effective. Everyone’s inbox holds those difficult to read or process emails, hanging around because the recipient is unclear on how to reply or act. Don’t let that happen to your business emails. Etiquette, style, and format are essential to writing emails that get results. This article will highlight best practices and walk you through an effective business email, step-by-step. By integrating these methods into your email preparation, you will write better emails and improve overall communication. Four Key Questions: There are four questions that you must consider as you begin to draft a business email: 1. Who is My Audience? In all business writing, the audience is the top consideration. Who you are writing for will determine how you write your email. The reader will determine the tone, formality, and content of the communication. Your email’s reader may be your colleague, client, or supervisor. Each reader will have a different background, project knowledge, and priorities. You can use project acronyms with a colleague who has the same deep project knowledge as you do. Those same acronyms will be confusing to an executive who needs an update for budget forecasting. With your audience at the forefront, you will always write a more effective email. The audience includes all the people included in the sender fields. This includes the To:, CC:. and BCC: fields but main focus should be on those in the To field. Writing for the audience also means using these fields correctly. The ‘To:’ field is for the direct audience who needs to reply or take action from the email content. The ‘CC:’ field is for readers who need to receive the email conversation for reference or clarity, but do not need to take action nor reply. The ‘BCC:’ field is for the audience who only needs to see the initial email and none of the later chain of replies. Incorrect usage of the sender fields is a common business email mistake. It occurs when the audience and their roles are not thoughtfully considered. Use the Bcc field very judiciously. Often it's best to forward an email separately, with a brief statement on why you're sending this information. 2. What is the Purpose? An email must have a purpose. And it must have only one purpose. This email practice is called the ‘one thing rule’. Each email should cover only one specific item, task, or request. Covering multiple actions in one email can cause confusion and inefficiency. One email should not include both client report revision notes and a scheduling question for the quarterly meeting. This scenario calls for two separate emails. By limiting emails to one thing, the email is easier for the recipient to understand, process and act upon. This clarity increases understanding and productivity. In practice, we sometimes have to ask for several pieces of information related to the same topic. In this case, use a numbersed list to clarify for your reader that the request has components. This will help your reader respond easily and ensure you receive all the specifics you need. I need you to review these three items before we release the sketch to the production team: Content Design Color choice 3. Is This Email Necessary? There is a tendency to over-communicate by email. While email is efficient and provides an electronic paper-trail, not all communication should occur over email. Ask yourself: â€Å"Is this email really necessary?† Perhaps a quick phone call or a ping on the company messenger is more appropriate. If you’re expecting a lot of back-and-forth on the topic, a short conversation can eliminate a lengthyemail chain. Choose the right channel to send information. Email is great, but it's one channel. 4. Is Email Appropriate? Email can be used in many scenarios but is not always appropriate. If you are delivering bad news, do so in person or buffer the email thoughtfully. An email is impersonal and is difficult to convey empathy or compassion. If you must write a business apology email follow these rules. Sensitive information sent by email runs the risk of being accidentally shared. There are plenty of cases of email mishaps, ranging from funny to serious. Whether the information is personal contact or personal opinion, consider whether it’s appropriate for an email. If you wouldn’t want it accidentally shared, be very thoughtful about how it is sent in the first place. If you are unsure if an email is appropriate, ask yourself if you'd be comfortable with that email being projected in a meeting. Attending the meeting are your boss, all your future bosses, and your mother. If it passes this test, then send it. If not, there is likely something that is not appropriate. Email Style Business emails have a very specific style. They are professional but brief. They should be written to be skimmed, but with enough information to allow a complete response. If you like this article you may be interestedin our online email writing course. Tone Finding the correct tone can be the biggest headache in drafting an email. The tone changes based on your audience. It can range to formal to friendly but is always professional and should always be matched to your audience. Wordy politeness can often be overlooked in efforts to be brief in emails. However, please and thank you should be included anytime it is appropriate. Avoid ALL CAPS because it SOUNDS LIKE YOU’RE YELLING (and could route your email to the spam folder). If you wouldn’t shout the statement in person, don’t shout it in an email. Instead, use italics,underlining or bold to emphasize important points. Example: Vacation requests must be submitted at least two weeks in advance. Notice the harsh tone if the bold text is swapped for caps: Vacation requests must be submitted AT LEAST TWO WEEKS IN ADVANCE. One exception: Do use all caps in email headings when writing to any organization that strips html formatting from email. The military, military academies, and some financial institutions with strict security protocols often strip html formatting. Headings are very helpful to readers. They allow a reader to skim and find information easily. They're a business writer's best weapon against information overload. Avoid excessive use of punctuation or emojis. Exclamation points should be used sparingly! Emojis continue to have a larger role in digital communication and several style guides have approved their judicious use in business writing. I follow the rule of only using them after the other party has sent one. They should never be used in formal business emails. Format Emails are meant to be skimmed, so they should have plenty of white-space to assist the reader. Use shorter paragraphs, lists and bullet points to streamline the information. And, use headings to break up concepts and allow a reader to skim. In addition, awkward formatting copied from other documents or emails can be distracting. To have seamless formatting for your email, strip the text formatting of the new content by using your email client’s Remove or Formatting function. Here are the most common formatting features and how to use them. Font: The font is the typeface that you should choose for your email. It is best to choose a sans serif (a typeface without decorative strokes at the end) as they are more modern and simple and easy to read onscreen. They are also easier to read at a small size. Gmail uses Sans Serif as the default. You could also use Arial, Helvetica, Tahoma, Terbuchet MS, or Verdana. Text Size: You should try to keep your email in the normal size. This is between 10–12pt. Bold: You can use bold for headings and to emphasise important text. Bold text catches the eye of readers as they scan the email. Italics: Italics are a softer way to draw attention to an area of text. They are used to bring emphasis to an area of a sentence. They do not make words stand out when the user is scanning a page the way bold text does. Italics should also be used for titles of full works. Underline: Underlined text can easily be confused for a link. When writing an email, it's best not to use underlined text to draw attention to an area of an email. It is better to use bold or italics. Text Color: You should avoid using multiple text colors in an email as it draws the eye in to multiple locations and looks unprofessional. It is likely that your email program makes your hyperlinks blue. Alignment: Business writing uses text that is fully aligned left. Academic writing indents the first sentence of a paragraph five spaces. In business email, you will never need to indent the start of a paragraph. Users scan pages in a F-shapped pattern. By changing the alignment it makes it more difficult for the reader to skim. Numbers: Using a numbered list can help organize content where the sequence is important. For example if you were describing steps you would want to use a numbered list. Bullet Points: Bullet points are a great way to create white space on your page and draw attention to related items. Bullet points work best for unordered lists. Indent More: In business emails you should not indent the first sentence of a new paragraph. A line break represents the start of a new paragraph. The indent more button allows you to add an indent to text. This is useful on rare occasions when you want to indicate that some information is a subset of what preceeded it. It creates a visual indication that the indented information is less important. Indent Less: This allows you to move your content to the left Quote Text: If you are referring to quoted text you should use the quote text function. It provides a slight indent to your content and a grey vertical line to the left. This shows readers that you are quoting text. Remove Formatting: If you are pasting text into your email it is vital you use the remove formatting function. Otherwise you will paste the text styles and it will be obvious to your reader that you copy and pasted that text. To use this function select the text you want to remove formatting. Then click the remove formatting button. Email Overview Let's dissect each section of a business email to highlight best practices for you to implement in your writing. Subject Line The subject line is the mini-summary of your email. It provides the biggest opportunity to ensure your email gets read. The goal of a subject line is to get your reader to open the email without tricking them. It is also the place where mistakes are most commonly made. Think of it as your email’s headline. It should be a 3- to 8-word overview of the content. Subject lines that are too brief or too lengthy cause confusion. If it makes the email seem difficult or confusing to reply to, the recipient may not open it immediately or at all. Bad Examples: ‘Important!’ ‘For Your Review’ ‘Questions About Expansion Performance Target Report Deadline Extension Request† For Client Meeting’ Good Examples: ‘Your BookShop Order Delivery Dec 2’ ‘Client Report Revisions: Please Review by 4 PM’ ‘Expansion Report Extension Requested until Friday’ Email clients will also review the subject line for signs of spam. This is especially important for sales teams who may be cold-emailing clients. Certain terms are flags for spam algorithms and may be filtered to a Junk folder. Avoid using words such as ‘Sales’, ‘Please read’ or ‘Profits’, or having one-word subjects.Also make sure you are replying to the correct thread. Do not use an old email thread for a new topic. Greeting Your greeting should be professional and concise. It is always preferable to address the recipient using their name, but it may not always be possible. Good afternoon, Greetings, Dear Ms. Jones: Hi Jeff, (salutation format) Hi, Jeff. (sentence format) Brief Pleasantry If you’re emailing someone for the first time, your opening line could be a short pleasantry connecting you and the recipient. One sentence should be enough. Indicate how you connected. This reminder will give the reader context for the following information. â€Å"It was great to meet you at last night’s networking event.† If you’ve received something from the recipient, offer your thanks. It could be a thank you for an offer of assistance, for an interesting piece of content they shared or even for simply reading the email. â€Å"Thank you for sharing your article on management strategies. The findings are valuable.’ ‘I appreciate you taking the time to help me with this project.’ If you want to keep it general, warm well-wishes will do. ‘I hope you’re well!’ Omit a pleasant greeting if you’ve recently or frequently communicated with each other. Be very careful of overspinning pleasantries at the start of the email. The purpose of your email should be the overt start. Remember the acronmy B.L.O.T- bottom line on top. What do you want your reader to know or do? That's the most important opening. Purpose As previously noted, each email should address just one thing, one purpose. This task, request or information should be presented clearly and directly after the pleasantry. This is the B.L.O.T- bottom line on top. Be concise and direct. Don’t hide your request or it can easily be overlooked or ignored. ‘Please provide your feedback on the budget.’ ‘Can you participate in the project kick-off meeting next Thursday? ‘Did you have any revisions to the final report?’ Remember the acronym B.L.O.T. - Bottom Line On Top Additional Information Some business emails may require additional information for the reader. It could be clarification on the task, a link to resources or examples, or other helpful information. This information should be included thoughtfully. Only directly relevant content should be added. Call to Action Near the end of the email, include a specific call to action. The email is being sent to accomplish one task. The call to action should leave no confusion as to your request. Do not assume the reader understands the desired result from prior information. Emails can easily be misinterpreted if there is any grey area. This statement should include the specific action and the timeline. If you are sending the email to multiple people, clarify task responsibility by directly naming the intended person. Clarification of tasks and expectations allows for the recipient to respond more effectively. Bad examples: â€Å"Can you take care of this?† â€Å"Let me know what you think.† Good examples: â€Å"Sarah: can you forward the survey to all staff by Friday at noon, please?† â€Å"I’d appreciate your feedback on the draft agenda. If you have any edits, please send them by tomorrow, Tuesday, at 10 AM.† If you would like a confirmation, you can phrase the call to action as a question. If the call to action is a notification that does not necessarily require a reply, you can structure the call to action as a statement. Closing Message The closing message simply indicates that the email is complete. While it is not a requirement in modern email writing, a brief, polite phrase will nicely round out your email. ‘Thank you for your time,’ ‘I look forward to your response,’ ‘Kind regards,’ Sign-off Signature The end of the email includes a sign-off of your name. The phrasing should match the formality of the email. Most formal: Dr. John Smith Dr. Smith John Smith Least formal and most common: John Your email signature is a type of electronic business card that is appended to your email. It should include the most important context and contact details for your reader. This is the place to help your reader with relevant contact or contextual information, not brag or insert philosophical quotes. Images and logos can be useful, but be aware of the sizing and how they will appear on mobile devices. Attachments and Links Any referenced attachments or links must be included in the email. Either name the file so that it is clearly identified or include the document title in parenthesis immediately after you mention it in the email. Don’t make the reader go hunting for the information they need. If an attachment was sent to the recipient previously, attach it again anyway. This way, they can easily access the information rather than searching through their inbox. Of course, double-check that the file is attached and correct. Forgetting to include an attachment requires an unnecessary (and embarrassing!) reply requesting it, which can delay the work. Links can be directing the reader either to websites or to intranet directories. These hyperlinks can be lengthy and distracting in email text. Instead, integrate the hyperlink into the existing sentence. Good example: You may find this technical writing resource useful in preparing the report. You should also test the link to ensure that it opens the correct site. Review Once your email is composed, do not click send. Yet. Take a moment to review your email. Check for grammatical or spelling errors (Grammarly has a helpful free tool). Typos suggest carelessness and can even convey incorrect information. Double-check dates, times, names, links, attachments and other specific details. Triple-check that the correct recipients are in the sender fields. Our Favorite (Free) Email Hacks Undo Send Have you ever clicked send and then gasped in horror? Perhaps it’s an ‘I didn’t mean to send it to that Brad!’ situation. Or it may be the less embarrassing but still annoying ‘I meant to include Brad on that email!’ scenario. Thankfully, some email clients have found a solution to this potential embarrassment with the addition of ‘Undo Send’. In Gmail, you can enable this function in Settings. You can choose from a 5 to 30 second cancellation period. In OutLook, you can recall an unread email sent to a recipient with an Exchange account in the same organization. This feature does not work will in practice because if it has been read by anyone, it cannot be recalled. In this case, simply forward the email with an error and state your apology and clarification. Canned Responses in Gmail Do you send the same email over and over again? Save time by using Canned Responses in Gmail. This function allows you to save standard emails. When you would like to send the standard reply, simply select your preferred prepared template in the Compose window. You can also set Canned responses to send automatically to inbound email with specific details. Filters and Folders Is your inbox overwhelming? Thoughtful use of filters and folders can help reduce email stress. You can label and even color-code emails from specific people or even whole domains. These labels will allow the emails to be easily archived once read. You can set up filters to automatically mark as read or archive low priority reference emails, like a delivery tracking update. A short investment in setup time will provide long-term time savings. Schedule Emails with Boomerang Are you working late, but want your email to arrive in your client’s inbox first thing tomorrow morning? You can schedule emails to send at a specified time in the future using the Boomerang add-on. Caution:If you are sending information to recipients who report to you, don't send late evening emails because it can create an expectation of 24/7 work across your team. Schedule the emails to send at the start of normal work hours. Keyboard shortcuts Drafting an effective business email takes time. However, you can save time by using keyboard shortcuts. Save clicks while selecting emails, marking unread, adding a hyperlink and more. Check out the shortcuts for Gmail and Outlook. Track email opens If you’ve ever sent the email: ‘I’m just checking to see if you got this.’, then you should be using email tracking. There are a wide range of email add-ons and applications that will track if your email is opened by the recipient. Conclusion The volume of email we receive and send can sometimes diminish our motivation to write an effective business email. Consider the four key questions when preparing an email. Write it in a way that is concise yet clearly conveys the information and request to the reader. Your reader, and their inbox, will appreciate it.

IT security Coursework Example | Topics and Well Written Essays - 2500 words

IT security - Coursework Example In this scenario, most of the data stored is extremely secret and not intended for common people screening in addition to the outside business access. In addition, a lot of companies are exclusively dependent on their business and economical data which is proficiently stored in computers like any web based enterprise. In case of such businesses we can have customer records, private employee’s information, employee’s salary details, advertising and sales data and bank account information stored on electronic database systems. In this scenario, without this business and economical data, it would frequently be extremely difficult for a company to work effectively. For this reason new and more enhanced technology based structures and security systems are implemented to protect such kinds of sensitive business data and information which can later on be used for effective decision making. However, better business information security systems include a variety of processes, ex pertise, safety products and measures. In addition, the software applications that offer virus protection scanners and firewall information safety are not sufficient on behalf of their performance to defend huge and extensive information stores. Thus, a group of systems and practices are required to be implemented to successfully discourage illegal entry and interpretation to information systems and databases (Crystal, 2011), (Anderson & Schneier, 2008) and (Grimaila, 2004). Information security is becoming extremely important for all the businesses. This report presents a comprehensive analysis of one of the biggest global business Wal-Mart. This report will analyze some of the prime IT security procedures that Wal-Mart organization currently uses. This report will also outline that how these security procedures are used and what threats they are designed to combat. Wal-Mart is one of the biggest worldwide retailers. It is one of biggest financial power, a glowing ruler for argumen t and an intellectual experience. In addition, the Wal-Mart is the mind-piece of Sam Walton, who is having a personal thinking to offer customer lesser prices than they get somewhere. That fundamental policy has made the Wal-Mart's culture and presently formulated as a biggest business monster. At present Wal-Mart business setup is exceptionally massive. Moreover, it has amazing power to create employment marketplaces worldwide as well as transform the method all companies generally do their jobs (Wilbert, 2011), (Walmart, 2011) and (William F. Achtmeyer Center for Global Leadership, 2002). WAL-MART: BUSINESS OVERVIEW Wal-Mart business setup was established in 1962 by the Sam Walton, with a first Wal-Mart store that was started at Rogers, Arkansas. This business attained annual sales of $1 billion after 17 years of its development. At the end of January 2002, Wal-Mart business Stores, Inc. turned out to be a world’s biggest seller, along with $218 billion of annual sales. Add itionally,

World Literature Paper 2(B) - IB English HL Essay

World Literature Paper 2(B) - IB English HL - Essay Example The plot of the story revolves around the life stories of these two prisoners, Luis Molina, a homosexual, and Valentin Arregui, a political prisoner. Molina was guilty of some pedophilia, for having sex relations with a young boy. Valentin on the other hand was jailed and mercilessly tortured for supporting the Marxist movement. How each prisoner dealt with their fate in prison also varies in perspective. While Valentin was wary on how to change the world and win the cause their movement is fighting for, Molina found escape by narrating lines from an old favourite movie, Her Real Glory, which his prison mate identified as a Nazi Propaganda film. But Molina for her part was not mindful of the political color of the film; he fantasized on the emotional drama of the lovers in her story, mimicking selected acts of the lady lover. Not long after, a friendship bond develops between the prisoners accepting the fact that they only have each other to cling to, each the protector and helper of the other. They are trapped in prison cell where circumstances ease out the differences between their ideals and forge understanding, acceptance and emotional attachment. Later Molina got out of prison on parole while Valentin was left behind to be tortured. On the day Molina left the prison cell, he gave in to Valentin’s plea for him to call his comrades and deliver his message. The story ended with Molina’s death while carrying out favor for his prison mate, while Valentin was in the infirmary after being tortured to death. Then the prison mates joined in the surreal each still being wary of what had happened to each other. This assignment will explore the creative aspect of the plot particularly on how the Molina’s narration of the movie within the movie, the dialogues and voices affected the audience imagination. Such vivid description of the characters and acts

The Miller And Modigliani Capital Structure Irrelevance Theorem Finance Essay

The Miller And Modigliani Capital Structure Irrelevance Theorem Finance Essay Contrary to Modigliani and Miller (1958, MM hereafter), Capital Structure is not irrelevant when we consider a firm with a dividend payout policy. This article extends the MM capital structure theorem by relaxing the full payout assumption and introducing retention policy. The theoretical contribution shows that it is possible to verify the theorem when we suppose an investor who exchanges his initial holding for another portfolio composed of consumption and investment. The empirical analysis of this new approach is based on a data set of the USA Electric Utilities and Oil companies for the period 1990-1998. The results show that the relationships between leverage and firm value are significantly affected by the firms payout ratio. 1. Introduction Miller and Modiglianis (1958) irrelevance theorem is one of the important and puzzling issues in modern corporate finance theory [1], which has challenged the traditional view[2], that an optimum leverage exists. The main source of the puzzle stems from the fact that financial research dont seem to explain the firm financing behaviour as we attempt to reconcile the MM theory with the evidence(Myers 1984, Gordon1994, Rajan and Zingales1995). The MM theorem(proposition I) has shown that under a perfect market hypothesis the market value of any firm is independent of its capital structure (Stulz2006). This fundamental proposition explicitly indicates that the aptitude of investors to engage in personal or homemade leverage is sufficient to ensure that corporate leverage in itself cannot modify the total market value of the firm [3]. In other words, the theorem provides conditions under which arbitrage by individuals keeps the value of the firm depend only on cash flow generated by the i nvestment policy. Literature about the validity of the MM-proposition is discussed about whether investors can really accomplish the required conditions of the arbitrage method without changing the overall value of the company. In this context, many authors have shown the inadequacy of the theorem when variables that deal with the real world are introduced. Following the seminal paper of MM (1958), most theories have been put forward in corporate finance to reconcile the shortcomings of the irrelevance theorem with variables that explain the firms choice of capital structure. According to the previous debate, criticism against this theorem can be grouped in two types of arguments: on the one hand, there are papers which deal with the limitations of the arbitrage conditions; on the other hand, there are studies which analyze the effect of market imperfections on the firms choice of capital structure. Despite the importance of these interventions, we note that all of the limitations deal with the explicit assumptions used by MM, but none deals with the critiques of the MMs implicit assumptions. More recently, DeAngelo and DeAngelo (2006, DD hereafter) have challenged MMs irrelevance dividend policy. Dealing with this alternative of earnings as fully distributed, these authors have showed the irrelevance of the MM dividend irrelevance theo rem when MMs assumptions are relaxed to allow retention. As DeAngelo and DeAngelo(2006, page 294) wrote When MMs assumptions are modified to allow retention with the NPV of Investment policy fixed, a firm can reduce its value by paying out less than the full present value of FCF, and so Payout policy matters and Investment policy is not the sole determinant of value . According to DD(2006), the MMs irrelevance theorem forces firms to choose only among dividend policies that distribute the full present value of free cash flow(FCF) to shareholders. Distributions below the totality of earnings are ruled out by the implicit hypothesis. Dealing with this alternative of fully-distributed earnings, MM(1958) used the same hypothesis in the development of the irrelevance of capital structure.. As pointed by the authors à ¢Ã¢â€š ¬Ã‚ ¦.as will become clear later, as long as management is presumed to be acting in the best interests of the stockholders, retained earnings can be regarded as equivalent to a fully subscribed, pre-emptive issue of common stock. Hence, for present purposes, the division of the stream between cash dividends and retained earnings in any period is a mere detail. MM, 1958 p266. However, MM(1958) failed to recognize that proposition I implies that firms distribute all their cash flow to shareholders without paying any attention to their retention policy. This paper constitutes a new extended proof of the MM theorem by not considering the hypothesis of earnings as fully distributed. We will show that it is possible to verify the theorem when we suppose an investor who exchanges his initial holding fo r a mix of consumption and investment. The rest of the paper is organized as follows: in the next section, we demonstrate the irrelevance of the MMs capital structure irrelevance when earnings are not fully distributed. We propose the possibility of extending of the MM theorem. Furthermore, we show that the two firms are not forced to distribute their full earnings; and the irrelevance is hold in the presence of the mix of investment and consumption. Section III describes the data set, introduces the methodology, examines the hypothesis of the variables and investigates whether the empirical Modigliani-Miller capital structure irrelevance is influenced by dividend payout ratio. Section IV provides some concluding remarks. 2. How do we reconcile MMs capital structure irrelevant theorem with the firms payout choice? 2.1 The failure of the MM theorem when earnings are not fully distributed. As indicated by Rubinstein (2003), the law of the conservation of investment value of MM(1958) was anticipated by many studies (Fisher (1930), Williams[5] (1938), Durand (1952); Morton (1954) for examples) but none of these authors have used arbitrage mechanism to prove the invariance of the cost of capital under changes in leverage. The MMs theorem demonstrates that under certain hypothesis of market conditions, the value of the firm is independent of its debt-equity ratio and is given by capitalizing the expected return generated by its assets. This model can be expressed as: for any firm j in class k (1) Where V stands for the market value of the firm, S for the market value of its common shares, D for the market value of its debts, X for its expected earnings before interest on its assets, for the capitalization rate appropriate to its class. The analysis of the MMs arbitrage steps shows the implicit hypothesis of full payout ratio which plays a crucial role in the model. The MMs capital structure irrelevance theorem constrains firms to distribute all of their earnings. In particular, we note that the validity of the proof developed by MM is based on this implicit assumption. MM(1958) consider (see MM(1958) pages 269-270 ) the return of the investor Y as a fraction of the net income available (X-rD for levered firm and X for unlevered firm) for the stockholders. (2) Where: is the return of the investor before arbitrage process, L is levered firm and U is Unlevred firm and is fraction of the total outstanding shares owned by the investor. Obviously, MM(1958) confuse artificially return of the investor(dividend return) and net income which should be distributed between dividend and retention. MM(1958 page 266) assert that the division of the stream between cash dividends and retained earnings in any period is a mere detail. When we derive the MM capital structure theorem for firms that are not distributing all their earnings as dividends, it follows a non-adequacy of the arbitrage operations, a non-proof of the irrelevance model. Table I shows the two cases used by MM(1958) when we introduce a level of payout different from 100%. Therefore, when we use the same arbitrage as MM(1958), we must then admit that the two firms distribute all the available income to verify the leverage irrelevance proposition. As will be shown later, this assumption can modify the validity of the MM theorem. To justify this thesis, we suppose the same steps of the MM first proposition but with a slight difference: here we suppose that firms are not constrained to distribute all of their earnings. This means that we introduce in the arbitrage reasoning the payout ratio (PR) as a new variable. Table I below shows that MM theorem is not verified. The difference between returns (before and after arbitrage operations) is not the sa me as showed by MM (1958). Table I. The irrelevance of the MM capital structure irrelevance when payout ratio is different from 100% First possibility  : VL > VU Second possibility  : VU > VL First stage  : the initial return of the investor YL Second Stage: Arbitrage process Sold his initial worth of the firm L Borrows an additional amount dL with the same interest rate r Acquired new shares of the firm u sold his initial worth of the firm U Acquired new shares of the firm L Acquired new bonds b of the firm L Third stage: the return of the investor YU Final stage: Difference of earnings à ¢Ã‹â€ Ã¢â‚¬  Y= YU -YL Interpretations It is not possible to verify the MM results when we introduce the hypothesis of payout ratio different from 100%, the difference of returns will depend on the all components of the equation. When we pose PRL=PRU=1, it is easy to obtain the same difference of returns as MM(1958): or Notes: Using the MM formulation, we consider two firms L and U, for which the expected return is the same XL = XU = X. Company U is financed entirely by stock SU and company L by stock SL and debt D. The market value of each firm is then VU = SU and VL = SL + D, We denote PRL and PRU the payout ratios of the levered and unlevered firms (MM 1958 suppose PRL = PRU = 100% all expected return is distributed).sL =SL, sU =SU denote the value of shares owned respectively by an investor in the levered and unlevered firm with a fraction 2.2 The possibility of extension;The two firms are not obliged to distribute all their income: the mix of investment and consumption solution. The object of this section is to show that it is possible to demonstrate MMs proposition I without the hypothesis of earnings are fully distributed. In other words, we present an extension of the MM capital structure theorem for the case in which firms are allowed to have a payout policy. To prove this new proposition, we suppose the same hypothesis used by MM (1958), except that earnings are not fully distributed. Using the MM formulation, we consider two firms U, L for which the expected return is the same XL = XU = X. Company U is financed entirely by stock SU and company L by stock SL and debt D. The market value of each firm is then VU = SU and VL = SL + D. * Case 1: we suppose the value of the levered firm VL , to be greater than that of the Unlevered firm VU ( ). We denote respectively, PRL and PRU the payout ratios of the levered and unlevered firms (MM 1958 page 269) suppose PRL = PRU = 100% all expected return is distributed). First stage (initial return): consider an investor who owns sL dollars worth of the stock in the company L representing a fraction of the total outstanding shares SL, where sL= SL. His return YL can be written as: (3) The return from this portfolio, denoted by YL, will be a fraction of the income distributed for the stockholders of company L, which equals the multiplication of the payout ratio PRL by the difference between to total return X and the interest charge r DL. Where, r is the interest rate which the firm pays on its debt D. Second Stage (Arbitrage process): now suppose that an individual investor who adjusts his own personal leverage in order to increase his profits. He makes the following operations: (a ) Sold his worth sL of the company L and he divided it as follows: (i) he partially invested an amount IU = PRL.sL (which equals: IU=PRLSL) in acquiring shares (ii) he consumes the remainder CL= (1-PRL)SL. where sL= IU + CL . (b) Borrowed an additional amount . (c) Acquired an amount of the shares of the company U. He could so by using the amount IU from the sales of his initial holding and the amount d from borrowing. Third Stage (the new return): the income of the investor ((i) who holds sU dollars worth of the shares of the company U (ii) and who must pay interest of personal debt d would be: (4) Last Stage: Arbitrage profit: Comparing (4) with (3) we obtain: (5) Thus, under this approach we can distinguish two situations: First situation: If PRU= PRL = 1 then we find the same result as obtained by MM (1958 page 270). (6) Second situation: We can also verify the same result of MM(1958 page 270) without the hypothesis of PRU = PRL = 1, we can simply assume PRU = 1, while the payout ratio of the levered firm PRL is likely to vary between 0% and 100%, we get then: (7) From equation (7), we conclude that as long we must verify, so that it pays shareholders of corporation L to sell their investments, by this means decreasing SL and hence VL, and replace them with a mix of consumption and portfolio investment, which contains shares of the unlevered firm and personal debt, thereby growing SU and thus VU. This arbitrage process will be finished when equilibrium restores the stated equalities between the values of the two firms. * Case 2: we suppose the value of the unlevered firm VU , to be larger than that of the Levered one VL ( ). First stage: The return of the investor who holds sU dollars of shares of company U representing a fractionof the total outstanding stock SU . Where (8) The return from this portfolio denoted by YU will be a fraction of the income distributed to shareholders of the unlevered firm U. Second stage: suppose that the investor exchanges his initial holding in U by another portfolio in the levered firm L. The arbitrage process with consumption behaviour will take the following form: the investor sold his worth of company U: and divided it as follows: (i) He invested partially of the shares of the company L (ii) He invested also of bonds of the company L (iii) The remainder will be consumed. From IL and IB , we can write respectively: Third stage: The return of the investor (i) who holds IL dollars worth of the shares of the company L (ii) and who holds IB dollars worth of bonds of the company L. (9) Last stage: Arbitrage profit: comparing YL (from 9) with YU (from 8) we obtain: (10) In order to get a profitable arbitrage opportunity for the investor, we must consider a positive difference of returns. Analysing equation (10), we can easily formulate two possibility of payout ratio: In the first, if we suppose a full earning model for the two firms (PRL = PRU = 1), therefore we will obtain the same results as showed by MM(1958) (page 270). According to this situation, equation (10) can be written as: (11) In the second, the MMs results can also be obtained if we just assume a full earnings for levered firm PRL= 1 while the payout ratio of the unlevered firm PRU is likely to vary between 0% and 100% implying that the firm can use a payout policy, which is not restricted to full earnings. Such a representation is written as: (12) In this context, it is also important to show that as we must obtain , hence it pays the shareholders of company U to sell their holdings and substitute them with a mix of consumption and portfolio investment, which contains shares and bonds. If, all investors in firm U will accomplish the three stages below, decrease the value of the unlevered firm U and increase the price of the levered firm L. This switching process will be over when equilibrium restores the stated equalities between the values of the two firms. From these demonstrations (case 1 and case 2) we can conclude that we are not compelled to suppose that the two firms distribute all of their returns. In other words we can make arbitrage process merely by considering that the overpriced firm (levered firm L in the first case and unlevered firm U in the second case) has a payout ratio PR which is not restricted to be 100% of the earnings. The table below summarizes the theoretical findings. Table II: the MMs arbitrage and the payout hypothesis Conditions Conclusions MMs arbitrage conditions without dividend payout MMs(1958) irrelevance theorem MMs arbitrage conditions with a payout ratio Failure of the MMs proof MMs arbitrage conditions with a payout ratio and consumption hypothesis Proof of the MMs irrelevance theorem(Extension) 3. The Empirical Analysis The previous part of this paper provides a new extension of the relationship between firm value and capital structure when the firm has a payout policy. In this section, we attempt some possible empirical tests. The central issue is, whether or not the leverage ratio affects firm value when earnings are not fully distributed?. Modigliani and Miller (1958) have taken two samples of 43 electric utilities during 1947-1948 and 42 oil companies during 1953. The data are provided respectively by two studies conducted by Allen (1954) and Smith (1955); and they estimated the weighted average cost of capital (wacc) according to the financial leverage of the firm. The regression form of the model was: (13) Where wacc is the weight cost of capital approximated by X /V , here X is the expected return net of taxes, V is the market value of all securities and the financial leverage of the firm measured by the ratio D/V, where D is the market value of Bonds and preferred stock. The results of the tests (as shown MM(1958page 282) are favourable to Modigliani and Miller (1958)s hypothesis. The values of the correlations coefficients are small and not statistically significant. Weston (1963) criticizes Modigliani-Miller empirical result. In particular, he assumes that the lack of effect of capital structure on the overall value of the firm is due to deficiency of the approach to take account of other factors that may be influencing the firms cost of capital. Contrary to MM, the author shows in the empirical tests that leverage is correlated negatively with firm value in the presence of the hypothesis of earnings growth. 3.1 Data and Methodology In order to conduct an empirical analysis similar to MMs, we have collected data on the same sectors from the same country as done by Modigliani and Miller 1958. The data we use are annual standardized financial information of US firms observed in the period 1990-1998. Our sample is formed by two sub samples: from the Electric sector we use 256 companies, and from the oil sector we take 223 companies. These data were obtained from the Worldscope Database (SIC Code 13 and 49). Contrary to Weston(1963), we consider the hypothesis of risk-class can be verified in the oil industry and the electric sector (as supposed by MM 1958). According to MM(1958), a linear model was constructed to explain the relationship between leverage and the firm value. The variables used in our regressions are constructed (see table III) as the same way as presented by these authors. The corresponding models used by MM(1958) are: For Model 1 :see MM(1958) page284 (note 38), for model 2,see MM(1958) page282; For Model 3,see MM(1958) page284 (note 39); For. With regard to the basic capital structure irrelevance theorem to be estimated; we propose three regression models as follows: Model 1: (14) Model 2: (15) Model 3: (16) Where wacc is the weighted average cost of capital; Leverage 1: first measure of leverage; ML1: modified leverage 1; Value: the ratio of the firm value; , ER: earnings ratio; DR debt ratio. The purpose of model 1 is to test the effect of leverage (as measured by Debt ratio DR) on firm value, while the Model 2 and model 3 test the effect of leverage (measured by Leverage1) on the cost of capital (measured by WACC). The variable ML1(modified leverage 1) is included in model3 to test the U-shaped hypothesis that the coefficient e of this variable should be significant and positive to confirm the traditional view, and not significantly different from zero to confirm the irrelevance theorem.. Note also that according to our approach the correlation between these variables should be different from zero. To test the validity of the MMs proposition when earnings are not fully distributed, we alternatively estimate all the above regressions in the absence (model MM58 and the model MM58supp) and the presence of the payout ratio. We validate this last alternative in two steps: In the first step, we test the models for all firms (model MMExt). In the second step, we test the models for subsamples: First Quartile sample (Firms Payout ratio is less than 25%), Second Quartile sample (firms payout ratio is between 25% and 50%), Third Quartile sample (firms payout ratio is between 50% and 75%), and Fourth Quartile sample (firms payout ratio is more than 75%). The tableIII below reports the different measures of variables and their predicted effects. Table III. Measures of variables and predicted signs Variables Symbol Measure MM Hypothesis Our Hypothesis Dependants variables Weighted average cost of capital WACC X/V Firm value ratio Value V/A The explanatory variables First measure of leverage Leverage 1 D/V Zero effect Significant effect Modified Leverage 1 measure ML1 D.D/V.S Zero effect Significant effect Earnings ratio ER X/A Debt ratio DR D/A Zero effect Significant effect Payout ratio Payout Div/NI Not tested Significant effect Notes: the table reports the different measures of variables where V: firm value= market value of equity S +market value of debt D, X: Earnings before interest and Taxes (EBIT), A: is the value of the total assets, NI net income. ML1 modified leverage 1 measure = (D/V) ²/(1-D/V). We measure the value of the Debt D by the amount of total liabilities. 3.2 Descriptive statistics As indicated in Table IV, the descriptive statistics shows that the average value of cost of capital is 5.92% for electric utilities and 4.48% for oil companies[6]. On average, we have a leverage ratio of 51.79%(37.85%), this measure is 62% (50.2%) when we use total assets as deflator . The average firm has a value ratio of 1,38 for electric utilities which is much weaker than those of oil companies (1,99). For these firms, earnings ratio ranges from 0% to 2.7% for electric utilities (0% to 66% for oil companies). In terms of net income, the average value of payout is more important for electric utilities (45%) ranging from 0% to 99,9%, than those of oil companies (16%). These results show that the division of the stream between cash dividend and retained earnings in any period is not a mere detail as supposed by Modigliani and Miller (1958 page 266). None of firms in the two samples and during the whole period (1990-1998) has distributed the totality of its income. For the normal di stribution of the series around the mean (see table IV), all of the distributions of the variables are not symmetric since their skewness values are different from zero. This conclusion is also verified by the values of the Kurtosis which are quite different from 3. Table IV. Descriptive Statistics of Variables (256 Electric Utilities and 223 Oil Companies) Variables Sample Mean Minimum Maximum Std. Dev Skewness Kurtosis Obs WACC Elect 0.05924 0.00000 0.29090 0.03188 0.292328 6.376099 2304 Oil 0.04481 0.00000 0.69582 0.05448 4.75993 42.0526 2007 Leverage1 Elect 0.51796 0.01573 0.99416 0.17873 -0.46925 3.36365 2304 Oil 0.37857 0.0000 0.98237 0.21714 0.20952 2.36431 2007 Value Elect 1.38155 0.09087 9.77112 0.82268 5.51989 45.7871 2304 Oil 1.99172 0.14447 138.56 5.40308 18.7716 397.615 2006 ER Elect 0.07353 0.0000 0.027612 0.04158 0.77790 7.94274 2304 Oil 0.06418 0.0000 0.664303 0.06683 2.104262 11.546 2007 DR Elect 0.62322 0.02761 0.995066 0.14891 -0.9991 4.78983 2304 Oil 0.50220 0.0000 0.9978 0.22065 -0.2593 2.4847 2006 ML1 Elect 1.34913 0.000252 169.346 6.6480 17.3645 344.950 2304 Oil 0.61298 0.0000 23.2454 1.5346 8.6309 103.96 2006 Payout Elect 0.45169 0.00000 0.99980 0.35978 -0.15569 1.40417 2304 Oil 0.16381 0.0000 0.9991 0.27721 1.50967 3.90646 2006 3.3 The effect of Leverage on the firm value (model 1) The MM(1958)s theorem is confronted with our hypothesis in order to know the crucial effect of payout ratio on the sensitivity of firm value to leverage. If our prediction is true, we should find a significant coefficient of leverage ratio, otherwise the MMs view should be confirmed. As indicated in table V, estimates result shows that coefficients of earning ratio (ER) and debt ratio (DR) are significantly different from zero, which fails to support the MMs view. Since our results, as presented below, demonstrate that the coefficient of debt ratio is significantly negative and contrary to the traditional view. We prefer to give more explanations of this relationship based on the presence of the payout policy. The latter has a negative influence on the two samples (see Model MMExt , table V) which is in the opposite direction as obtained by the cost of capital regressions (see tableVI). There are two main explanations for this result: According to Brigham and Gordon(1968), the relationship between stock price and leverage depends on the association between R (return on assets and investment) and i ( the rate of interest which the firm pays on its debt), not on the level of Leverage L. This can be written as: (16) Where E is the book value of the common equity per share, k is the rate at which dividend is discounted. It is evident, when R is less than i, the leverage effect on stock price P will be negative. Furthermore, the negative influence of the dividend ratio on the firm value confirms the leverage impact when the return on investment is less than the cost of debt. This means that firms experiencing lower rate of investment tend to use funds from internal and external resources to display higher payout ratio. The leverage measure is not the same: in Wacc regression, this variable is measured by debt on firm value (D/V), while in firm value regression (Value), the debt ratio is measured by debt on total Assets (D/A). The fact that both variables are divided by different deflators may be affected by a random disturbances of the market value of the firm. This bias correlation is not observed in the firm value regression. According to Modigliani and Miller (1958), the constant term in the previous regression should give more information on the value of the unlevered firm. As shown in table IV below, the estimated coefficient of this variable is not only significantly different from zero, but is quite positive and greatly relative to the coefficient of the debt ratio. This conclusion is confirmed for the two samples with large values for the oil companies. Table IV. Directs Pooled Least-Squares Estimates of the effects of leverage on the firm value Coefficients of Regressions Sample Constant ER DR Payout AdR ² Obs MM 58 Elect 1.893a -0.158a -0.805a 0.025 2304 Oil 2.464a -6.730a -0.668 0.048 2007 MM Ext Elect 1.963a -0.131a -0.466a -0.625a 0.095 2304 Oil 2.465a -6.703a -0.642 -0.086 0.048 2007 First Quartile Elect 1.969a -0.133b -0.412c 0.005 801 Oil 2.342a -7.490a -0.286 0.052 1440 Second Quartile Elect 1.465a 2.650a -0.554a 0.187 216 Oil 1.659a -0.197 -0.501a 0.033 279 Third Quartile Elect 1.206a 1.823a -0.249a 0.096 738 Oil 1.224a 3.229a -0.055 0.113 207 Fourth Quartile Elect 1.080a 1.809a -0.105 0.102 549 Oil 7.197a 0.983 -9.064a 0.676 72 Notes: a, b and c indicate significance at the 1%, 5%, and 10% levels respectively. 3.4 The effect of leverage on the cost of capital (model 2 and Model 3) According to Modigliani and Millers proposition I: the average cost of capital Wacc (Xt/V) should tend to have the same value independently of the degree of leverage MM (1958, page281). In other words, the leverages coefficient parameter in the Wacc regression should be insignificant and statistically equal to zero. The results of the MM model tests are shown in table V (models: MM58 and MM58supp). According to this table, the MM hypothesis is only verified in the oil sample, while leverage in the electric utilities has a negative and significant effect (coefficient is equal -0, 1162) on the cost

Problems in Mobile Communication Industry – Sri Lanka

Summary Technology is an essential part of any business and hence enterprises should have very clear understanding of their technology needs and opportunities. Sri Lankan Mobile Operators are in a better position in term of technology. Objective of this report is to analyze current technology level of mobile operators, their problem and the way of finding solutions using technology. Currently mobile communication industry is in a hazy situation. Although technology levels of mobile operators are comparatively high certain technologies can be used to get rid of present problems of the industry.Here in this report such technological problems are discussed and new technologies are proposed. Deploying mentioned technologies mobile operator will be able to overcome technological barriers as well as other issues of the industry. i List of Tables and Figures Page Tables Table 2. 1: World Telecommunication Technologies 4 Table 2. 2: Technology Comparison of Sri Lankan Mobile Operators 6 Figu res Figure 1. 1: Mobile Subscriber Growth (1991 – 2009 June) 1 Figure 4. 1: Typical Fiber Based Mobile Network 0 Figure 4. 2: HSPA Technology Roadmap 11 Figure 4. 3: Global Telecom Emissions 2002 – 2020 12 Figure 4. 4: Envelope Curve of Mobile Technologies 14 Figure 4. 5 Expected Growth of Mobile Data Industry 14 ii List of Abbreviations BTS CDMA EDGE GPRS GSM HSPA HSPA iDEN IP LTE PDC SDH SHF TDM TDMA TRCSL UMTS WCDMA ? Base Transceiver Station ? Code Division Multiple Access ? Enhanced Data rates for GSM Evolution ? General Packet Radio Service ? Global System for Mobile ?High Speed Packet Access ? High Speed Packet Access ? Integrated Digital Enhanced Network ? Internet Protocol ? Long Term Evolution ? Personal Digital Cellular ? Synchronous Digital Hierarchy ? Super High Frequency ? Tme Division Multiplexing ? Time Division Multiple Access ? Telecommunication Regulation Commission of Sri Lanka ? Universal Mobile Telecommunications System ? Wide band Code Division Multiple Access iii Table of Contents Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. List of Tables and Figures †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ii List of Abbreviations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ iii 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 1. 1 Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1. 2 Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 2 Technology Level of Mobile Ind ustry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2. 1 History †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2. 2 Assessing Technology Level †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 2. Bench Marking †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 3 Technology Problems †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 1 Capacity Limitations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 3. 2 Energy Issues †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦ 3. 3 Frequency Spectrum Issues †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 3. 4 BSC/MSC Boarders †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 3. 5 Tower Loading †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 4 Proposed Technologies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 0 4. 1 Fiber Based Transmission†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 4. 2 IP RAN †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 4. 3 EDGE Evolution for GSM †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 4. 4 Green Technologies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12 4. LTE †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 5 6 Future of Mobile Communication Industry †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 17 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8 iv Mobile Communication Industry in Sri Lanka 1 Introduction Technology plays a vital role in today’s business environments. Enterprises with appropriate technology are having a definite advantage over the others in the competitive business environment. Therefore enterprises should have very clear understanding of their technology needs and opportunities. Many telecommunications service providers in the world are in the midst of undergoing tec hnical and structural changes, whilst at the same time experiencing major growth.Competition and rapid technological advancements drive the present telecommunications industry. In Sri Lanka Mobile Communication Industry is rapidly growing. More than 12 million Mobile users are in Sri Lanka. Following figure shows the mobile subscriber growth. Cellular Subscriber Growth (1991 – 2009 June) 14,000,000 12,000,000 C u m u l a t i v e N o . o f S u b s c r i b e r s 10,000,000 8,000,000 Subscribers 6,000,000 4,000,000 2,000,000 0 Year Figure 1. 1: Mobile Subscriber Growth (1991 – 2009 June) Source: TRCSL Page 1Mobile Communication Industry in Sri Lanka Under a misty global economic cloud Sri Lanka’s economy grew in recent couple of years, but at a modest rate. The economy having achieved sustained growth over three decades averaging nearly 5% per annum, in conjunction with a modest population growth in comparison to other South Asian countries crossed the USD 2000 mar k in per capita income. Notwithstanding conditions of uncertainty, investment in infrastructure development continued at the macro level and Mobile Communication industry has achieved a considerable growth.The economic realities and new market developments during the last year turned out to be a stress test for all mobile phone operators in Sri Lanka. Ruptures emerged and the industry had to search for quick but durable fixes to remain viable. The entry of the fifth mobile phone operator, early in the year set the new reference price and forced a downward revision of pricing by all mobile operators. This caused a sharp reduction of the reference price by approximately 50%. Further to cutting prices, competition in the industry intensified and this resulted in a sharp rise in advertising and promotional activity.The combined effect of a significant drop in prices and high promotional costs compelled most industry players to consider serious adjustments to their business models and st ructures, a process that led to job losses in the industry. Leading operators recorded some growth in business volume in a growing market, but declining margins eroded revenue bases leading to operating losses. 1. 1 Objectives Main objectives of this repot are; 1. Assess Technology Level of Sri Lankan Mobile Communication Industry 2. Identifying main technology issues in the industry 3.Proposing technological solution for those issues 1. 2 Methodology Literature survey was done regarding the Sri Lankan and world Mobile communication industry. In the second step responsible staff members were interviewed representing all five mobile operators. Their views and information collected from literature survey Page 2 Mobile Communication Industry in Sri Lanka were analyzed. In addition to above Mobile communication equipment vendors were contacted for gathering information about new technologies and trends. Page 3Mobile Communication Industry in Sri Lanka 2 Technology Level of Mobile Indust ry In order to examine the technology level and capability, framework developed by Panda and Ramanathan (1995) can be used. This framework is based on the value chain concept, which identifies the primary and support activities of a telecommunications service provider, and uses step by? step procedure to analyze the technological capability needs in these activities and to develop indicators to measure the extent to which such technology capabilities have developed. 2. 1 HistoryAlthough telecommunication has a history of more than 150 years in Sri Lanka, the island’s mobile communication history extends to less than 25 years. Mobile phone technology first evolved in 1946 after the Second World War. The first Mobile network was established in North America. After 42 years, mobile technology was introduced to Sri Lanka. The first private mobile operator to enter the market in 1989 was Celltel Lanka Limited, which was later known as ‘Tigo’. In 2009 Tigo was acquired by Etisalat; Middle East telecom giant. The first mobile operator based its services on the E?TACS technology which offered basic voice services to Sri Lankan subscribers. Between 1989 to 1994 the Government took measures to introduce competitive cellular services by granting license to three mobile operators; OTC Australia (Pvt. ) Ltd, presently known as Mobitel (Pvt) Ltd, MTN Networks (Pvt. ) Limited, commonly known as Dialog GSM, and Lanka Cellular Services (Pvt. ) Limited currently known as Hutch. In 2009, the Government introduced more competition to the market by granting license to a fifth mobile operator, Bharathi Airtel which is an Indian telecommunication giant.From 2004 to 2010 Mobile communication industry in Sri Lanka had an annual growth of around 35? 40%. 2. 2 Assessing Technology Level World Technologies in Telecommunication is shown in Table 2. 1. It can be seen in the world still there are network operating mobile technologies of 1st generation, 2nd Page 4 Mobile Communication Industry in Sri Lanka generation and 3rd generation. By looking at the subscriber percentages belong to the networks it can be concluded that 1st generation technology networks will not last much longer as already it is 0. 01 percent of world subscriber base.Technology GSM CDMA2000 1x WCDMA CDMA2000 1x EV? DO Generation 2G/2. 5G 2. 5G 3G 3G Subscribers Percentage (%) (millions) 3700 80. 42 455 7. 7 240 6. 32 112 2. 8 WCDMA/HSPA 3. 5G 57 1. 52 iDEN 2G 28 0. 74 CDMAONE 2G 6. 95 0. 18 PDC 2G 6 0. 18 CDMA2000 1x EV? DO? Rev A 3. 5G 3. 2 0. 08 TDMA 2G 2. 19 0. 06 Analog 1G 0. 3 0. 01 Table 2. 1: World Telecommunication Technologies Source: http://www. telecomindiaonline. com/global? telecom? market? regional? and technology? distribution? at? telecom? india? daily. html GSM is the dominant technology used all round the glow.It has been introduced in 1992 as a 2nd generation technology but by 2010 it’s enhanced with development of GPRS and EDGE technologies. As still GSM technology has more than 80% of world subscriber base and GSM is enhancing with support technologies it is expected to last more years. 3G/3. 5G (WCDMA/HSPA) are most modern commercially available technologies. It’s seen that these technologies are capturing the market rapidly. According to related surveys, more than 96% of WCDMA networks have deployed HSPA, with the majority (over 52%) supporting a peak downlink data capability of 7. Mbps or higher. With 22% of HSPA network operators committed to HSPA Evolution (HSPA+). Page 5 Mobile Communication Industry in Sri Lanka 2. 3 Bench Marking Technologies used by Sri Lankan Mobile Operators and the world technologies are mentioned in the following Table 2. 2. According to the table Dialog and Mobitel have latest technologies comparing to other operators. When comparing with the World status Sri Lankan Operators are using state of art technology. Sri Lankan Operator Airtel Dialog Etisalat Hutch MobitelTechnologies used GSM/GPR S/EDGE WCDMA/HSPA GSM/GPRS/EDGE WCDMA/HSPA/HSPA+ GSM/GPRS/EDGE GSM/GPRS/EDGE GSM/GPRS/EDGE WCDMA/HSPA/HSPA+ World Status GSM/GPRS/EDGE are 2G/2. 5G popular technologies in world WCDMA/HSPA are growing 3G/3. 5G technologies HSPA+ is commercially available now LTE is emerging as a 4G technology in the world Table 2. 2: Technology Comparison of Sri Lankan Mobile Operators Sri Lanka is the first country introduced GSM, EDGE, WCDMA (3G) and HSPA (3. 5G) technologies. Also Sri Lanka is the first country which demonstrated HSPA+ in South Asia. Page 6Mobile Communication Industry in Sri Lanka 3 Technology Problems Recent years were probably the most challenging for the mobile communication industry in its history. Economic and industry turbulence heightened and industry leaders were forced to absorb the shocks in telling proportions while weaker operators were rendered vulnerable. The mobile communication industry deserves commendation for surviving trying economic, industry and regulatory challenges and for riding the tide. However, the cumulative effect was an entire mobile communication industry reporting operating losses.Following are some performance data of Mobile Operators in year 2009. Dialog Group reported negative NPAT of 1159 mill. Without recurring costs. In operation Etisalat reported a loss of approximately ~1600 mill. Hutch turn over was decreased by 61. 9% Mobitel reported a net loss of Rs. 395 mill. As margins become narrower and narrower operators are needed to find new opportunities in order to enhance revenue. But several technological problems are there as barriers for growing Mobile Communication Industry. 3. 1 Capacity Limitations In Mobile communication data traffic demand is rapidly increasing.Major bottle neck in providing higher data rates is limitations in transmission networks. Currently Mobile operators have not island wide optical fiber networks in order to provide higher capacities. Also to provide higher capacity at low cost, tradition al TDM based access networks are a barrier. So IP based networks need to be deployed. For this huge investments are needed but current financial status of all mobile operators is not healthy enough for that. Currently it is not possible to provide higher data rates when users move from UMTS (3G) coverage area to GSM/EDGE coverage area.Page 7 Mobile Communication Industry in Sri Lanka Currently the number of users can be catered by one cell has become a issue in mobile industry, because if there are more than possible no of users in the same cell, Users experience the congestion situation and as a result this cell need to be further brake in to two cells or covered by an umbrella cell to cater the capacity. When doing so different frequencies need to be assigned to the different cells and this will increase the interference to the users and quality would be dropped. 3. 2 Energy IssuesIn rural villages in Sri Lanka, electricity is either not available or is available only in limited q uantities. As a result, even if battery backup is provided for the Base Stations (BTS), the batteries do not get fully charged. Further, due to frequent interruptions in the power supply, the life of these batteries gets shortened, which in turn increases the operational cost to run services in rural areas. Unavailability of reliable power in semi? urban, rural and remote areas increases operational costs further because sufficient backup systems have to be maintained.Therefore sustainable green energy sources are essential to have need in future. But still in Sri Lanka Green Technologies like solar energy and wind power energy are not popular in Mobile industry. Also existing such technologies are not capable of successful operation of base stations. Unavailability of commercial power in rural areas is also affected to mobile operators to expand their coverage. Optional power sources are needed to expand coverage in small time duration with minimal cost. 3. 3 Frequency Spectrum Iss ues In Sri Lanka Super High Frequency (SHF) Band is highly polluted.SHF band includes frequencies between 3GHz and 30 GHz. In this band more than 10000 Microwave Links are currently operating. Especially in urban areas it is difficult to deploy new back bone microwave links due to interference. This has highly influenced for providing enough data capacity for Mobile Broad Band customers. Page 8 Mobile Communication Industry in Sri Lanka TRCSL has not allowed Point to Multi? Point backhauling technologies for telecom operators. With this technology number of microwave links need to be installed can be reduced and operators can easily deploy their back hauling networks. 3. 4 BSC/MSC BoardersIn early mobile systems, remote base station sites were controlled by the MSC or mobile switching center. But with current systems under 2. 5G GSM network BSC Base station controller controls the remote Base stations and under 3G network RNC Radio Network controller controls the remote node B sites , because of this scenario, It is a must to have several BSC/MSC boarders in the network and when users are moving via this boarders, the probability of drop of the calls are vey high reducing the network quality in those areas. For example, people in the boarder areas always experience call drops and bad call quality etc.Therefore improvement for this is necessary via the advancement of the technologies. It may be high capacity MSCs or BSCs or some other solutions. 3. 5 Tower Loading Microwave links are used as the main means of backhauling in mobile industry in Sri Lanka and these microwave links need to be fixed on towers with having line of sight. Usually each tower connects with more than one tower therefore always several links are need to be installed on a tower top. If its a hub site this number may increase to 10? 15 even more than 50 sometimes. Microwave antenna comes with 0. 6/1. 2/1. /2/2. 5m diameter; therefore this is a big equipment. Also it has a larger wind shield a rea, because of this big size and area and weight operators need high strength large towers to be implemented. If the antenna sizes and weight of this microwave links can be decreased it would be quite advantageous for the operators. Else new technologies like laser links, IR Links or smaller antenna sized IP links technologies can be developed to be able to guarantee the same level of availability. Then operators would be able to replace heavy microwave and use light equipment types. Page 9Mobile Communication Industry in Sri Lanka 4 Proposed Technologies 4. 1 Fiber Based Transmission Fiber based transmission is not a new technology in the industry. In Sri Lanka SLT and Dialog have their own fiber based networks. Fiber based transmission can cater quite high capacity data transmission. It can be used to implement either TDM/SDH based network or Packet/IP based network. Although SLT has a island wide fiber network, Dialog fiber network is still not widely spread. In fiber based solu tions fiber cables are drawn from core network sites to the remote Node? B/BTS sites.Usually a ring topology is used and it goes via hub sites, from hub sites fibers are drawn to remote sites. Figure 4. 1: Typical Fiber Based Mobile Network The problems with Fiber based transmission is the high initial capital investment cost and the time taken for the implementation. Most of the operators are not capable of affording such investment for their own fiber based infrastructure. Page 10 Mobile Communication Industry in Sri Lanka If a fiber network can be used for providing transmission for base stations, increasing data traffic demand can be easily fulfilled.Another option is to lease fiber network’s capacity from already deployed SLT or Dialog network. But leasing cost need to be highly considered. 4. 2 IP RAN Implementation of IP RAN (IP Radio access network) is the key to provide higher capacity. An IP ran with higher capacity to remote sites can reach higher speeds with curre ntly available HSPA+ like technologies. Figure 4. 2: HSPA Technology Roadmap According to the roadmap shown in Figure 4. 2, with the enhancements of HSPA+, Wimax /ADSL speeds can be passed or equalized with HSPA in the years to come.The IP radio access networks (IPRAN) consist of end to end (Remote sites to the core network nodes) transmission with IP/Ethernet networks. Easiest way to implementation of such a technology is fiber based IP network where higher capacity and less complexity can be achieved. 4. 3 EDGE Evolution for GSM Current 2G networks are inadequate for providing data speeds of GSM/EDGE networks. EDGE Evolution quadruples standard EDGE network speeds, promising downlink data Page 11 Mobile Communication Industry in Sri Lanka rates of 1. 2Mbit/s, though the standard has headroom for up to 1. 9Mbit/s.Similarly, uplink data rates of 474kbit/s are expected, although the standard specifies 947kbit/s. 3GPP standardized EDGE Evolution in 2007 (3GPP Release 7). 4. 4 Green Te chnologies Maintenance costs of networks in rural areas are high compared to urban areas, because of several factors such as poor transportation systems, difficulty in supply of spare parts and non? availability of skilled manpower. Due to lack of reliable power in rural areas, there has been a substantial increase in the usage of diesel for running engine alternators to keep telecom switching centers, transmission equipment and BTS s up and running.Currently more than 5000 Communication towers are there in Sri Lanka. This increases costs substantially. In spreading the reach of telecommunications in remote areas, renewable energy should be used to power relay towers in remote areas. By replacing diesel generators with solar panels in cell phone towers, tons of carbon emissions could be prevented from entering the atmosphere. Global Telecom emission in 2002 and estimated values in 2020 are shown in Figure 4. 3. Figure 4. 3: Global Telecom Emissions 2002 – 2020 Source: The Cli mate Group and Global e?Sustainability Initiative Page 12 Mobile Communication Industry in Sri Lanka Solar is a clean and effective way of harnessing energy. Also, the maintenance cost for the operation of solar equipment is comparatively lower as compared to diesel generators operated BTS towers. Solar generators have no carbon emissions and also help in preserving the environment for sustaining life on earth. It reduces global warming, as carbon emissions are null in solar devices. The manpower needed for the operation and maintenance for solar equipment do not require extra skill.The telecom majors in world have started operating mobile repeater and relay stations, which harness solar and wind energy with the wind turbines foisted on the telecom towers. The hybrid systems, involving solar photovoltaic systems and wind energy installations for this application assure uninterrupted supply of 2. 8 kilowatts of power daily. A master control installed at the site acts as a voltage sta bilizer, while a generator has been kept as a back? up for charging the batteries in case of emergency. Though the diesel generators are the lifelines of telecom towers, they contribute to significant carbon emissions.Going green and pushing the use of alternative energy sources like solar, wind and bio? fuel is the need of the hour; the government should provide high subsidies to help the telecoms taking this step, quickly and easily. Going solar is the way forward. Therefore as we can see above technologies are the candidate technologies for future enhancement of Mobitel network. According to the study these technologies can solve the main issues that were identified in this chapter. Therefore a strategy and a roadmap are required for timely implementation of the technologies in the network. 4. 5 LTELTE (Long Term Evolution) is a 4G technology which is emerging in the world now. When existing technologies are becoming obsolete, investments need to be done on new technologies. It i s assumed that 2G will become obsolete in near future. Page 13 Mobile Communication Industry in Sri Lanka Figure 4. 4: Envelope Curve of Mobile Technologies Figure 4. 4 shows the envelope curve of mobile communication technologies. It can be seen the technology is mainly improved focusing the deliverable capacity. See Figure 4. 5. Figure 4. 5 Expected Growth of Mobile Data Industry Mobile broad band services provide new opportunities for Mobile Operators.With LTE customer demands can be satisfied easily. Page 14 Mobile Communication Industry in Sri Lanka 5 Future Industry of Mobile Communication Current monthly operational cost of Mobile Networks is several folds higher than revenue which is the case in many technology introductions. By introducing green technologies operational cost can be reduced. Therefore a huge advantage can be taken in current price war. With low cost IP based technologies and Point to Multi Point Backhauling technologies can be reduce operation and maintenanc e cost also.Going for Fiber Networks can help to reduce operational cost by reducing huge TRCSL license charges need to be pay annually for Microwave Links. With those technology improvements turn over can be improved and hence investments can be encouraged because huge investments are needed in near future as Core Mobile Technologies are evolving day by day. Government need to be given intensives for investments in Mobile Technologies as it can energize the economy in return. Above mention technologies can reduce the environmental problems raised by Mobile Industry. Some of such issues can be listed as follows.Carbon Emission of more than 5000 Base Stations island wide Radio Frequency Pollution Currently Mobile Industry has influenced in culture also. Wide spread of pornographic contents is a major issue. Now recently all mobile operators have been agreed to implement technological measures to filter out such contents. Therefore by introducing mentioned technologies mobile operator will be able to overcome technological barriers as well as financial issues, marketing issues and environmental uses etc. Although Sri Lankan Mobile tariffs are the lowest in the region, customers are not satisfied with the service in general.This bad customer images Page 15 Mobile Communication Industry in Sri Lanka regarding mobile operators can be eliminated from the heart of the customers by introducing state of art, sustainable and low cost technologies. Page 16 Mobile Communication Industry in Sri Lanka 6 Conclusion Technology plays a vital role in any industry in today’s world. Mobile Communication industry is not an exception. Mobile Technologies are evolving very rapidly and customer expectations are also at sky level. In Sri Lanka 5 Mobile Players are operating in the industry and they use most popular and

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Marketing Plan - 1347 Words

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