integrated - Blog - Global Risk Community2024-03-28T17:49:31Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/integratedThe COSO Framework: An Organization's Guide to an Effective Internal Control Systemhttps://globalriskcommunity.com/profiles/blogs/the-coso-framework-an-organization-s-guide-to-an-effective2020-08-08T05:32:10.000Z2020-08-08T05:32:10.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p></p><p>As the business and operating environment changes, there has been a greater demand for transparency and accountability as to the <a href="https://flevy.com/blog/wp-content/uploads/2020/06/pic-1-COSO-Framework-300x208.jpeg" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/06/pic-1-COSO-Framework-300x208.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-1-COSO-Framework-300x208.jpeg?profile=RESIZE_710x" /></a>integrity of internal control. This has become very critical today as businesses drive to enhance the likelihood of them achieving their objectives and be able to adapt to changes in the global business environment.</p><p>The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released in 1992 the <a href="https://flevy.com/browse/flevypro/coso-framework-5086">Integrated Internal Control Framework</a> that will enable organizations to effectively and efficiently develop and maintain systems of internal control. It also includes enhancements and clarifications that will provide organizations the ease of using and applying the Framework.</p><h3><strong>An Overview of the COSO Framework</strong></h3><p>The COSO Framework is the globally recognized framework for designing, implementing, conducting, and assessing internal control. It is recognized as the definitive standard against which organizations measure the effectiveness of internal control systems.</p><p>If we look at the internal control, this is not a serial process but a dynamic and integrated process. It is a process effected by an organization’s <a href="https://flevy.com/business-toolkit/board-of-directors">Board of Directors</a>, Management, and other personnel designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance. It can be considered an enabler when it comes to achieving <a href="https://flevy.com/operational-excellence">Operational Excellence</a>.</p><p>The COSO Framework provides for 3 categories of objectives. These categories allow organizations to focus on different aspects of internal control. It ensures that the internal control system is operationally efficient and effective, reporting reliable data, and remain compliant to laws and regulations.</p><h3><strong>The 5 Components of the COSO Framework</strong></h3><p>In an effective internal control system, <a href="https://flevy.com/browse/flevypro/coso-framework-5086">5 Components of the COSO Framework</a> must be present to support the achievement of an organization’s mission, strategies, and related business objectives.</p><p><a href="https://flevy.com/browse/flevypro/coso-framework-5086" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/06/pic-2-COSO-Framework.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-COSO-Framework.png?profile=RESIZE_710x" /></a></p><p><strong>Component 1: Control Environment</strong>. This is a set of standards, processes, and structures that provide the basis for carrying out internal control across the organization.</p><p><strong>Component 2: Risk Assessment</strong>. This forms the basis for determining how risks will be managed. It involves a dynamic and iterative process for identifying and assessing risks to the achievement of objectives. It determines the possibility that an event will occur and adversely affect the achievement of objectives.</p><p><strong>Component 3: Control Activities</strong>. The 3rd component ensures that Management’s directives to mitigate risks to the achievement of objectives are carried out. These are actions that are established through policies and procedures. It may be preventive or detective in nature.</p><p><strong>Component 4: Information and Communication</strong>. This component focuses on the generation of relevant and quality information to support the functioning of other components. It is a continuous iterative process of providing, sharing, ad obtaining the necessary information. This is necessary to enable businesses to carry out internal control responsibilities to support the achievement of its objectives.</p><p><strong>Component 5: Monitoring Activities</strong>. Monitoring activities, as a component, ascertains whether each of the 5 components of internal control is present and functioning. It includes the conduct of ongoing evaluations, separate evaluations, or a combination of both.</p><p>The 5 Components of the COSO Framework are essentially important as they represent what is required to achieve the objectives and the organizational structure of the organization. Each component has its underlying principles and key elements to better guide organizations in putting the components in place.</p><h3><strong>Additional Key Considerations</strong></h3><p>The COSO Framework sets the requirements for an effective system of internal control. An effective system reduces, to an acceptable level, the risk of not achieving the organization’s objectives.</p><p>There are additional key considerations that organizations must take note of. One consideration is that each of the 5 components and relevant principles is present and functioning. Present refers to the determination that the components and relevant principles exist in the design and implementation of the system of internal control to achieve specified objectives. Functions refer to the determination that the components and relevant principles continue to exist in the operations and conduct of the system of internal control to achieve specified objectives.</p><p>Interested in gaining more understanding of the <a href="https://flevy.com/browse/flevypro/coso-framework-5086">COSO Framework</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/coso-framework-5086">editable PowerPoint about <strong>COSO Framework</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>The Power of the 5 Cost Management Strategies in Reducing Costshttps://globalriskcommunity.com/profiles/blogs/the-power-of-the-5-cost-management-strategies-in-reducing-costs2020-07-24T09:00:00.000Z2020-07-24T09:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p><br /></p><p>A commonly quoted statistic is that 80% to 95% of the cost of a product is determined by its design and is therefore set before the item<a href="https://flevy.com/blog/wp-content/uploads/2020/05/pic-1-5-Cost-Management-Strategies-300x200.jpeg" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic-1-5-Cost-Management-Strategies-300x200.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-1-5-Cost-Management-Strategies-300x200.jpeg?profile=RESIZE_710x" /></a> enters manufacturing. This assumption suggests that the dominant focus of <a href="https://flevy.com/business-toolkit/cost-management">Cost Management</a> should be during Product Development and not during Manufacturing.</p><p>However, contrary to a widely held assumption, companies can integrate a variety of Cost Management techniques not only in the design phase but throughout the product life cycle. This is to ensure that there is a substantial reduction in costs. In fact, companies achieving <a href="https://flevy.com/operational-excellence">Operational Excellence </a>and competing aggressively on cost might consider the adoption of some form of an <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">Integrated Cost Management Program</a> that spans the entire product life cycle.</p><p>An organization must have a good understanding of Integrated Cost Management and the 5 <a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181">Cost Management Strategies</a> that they can use to reduce costs but still attain the desired level of functionality and quality at the target costs.</p><h3><strong>The 5 Cost Management Strategies</strong></h3><p><strong> </strong>The <a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181">5 Cost Management Strategies</a> play a crucial role in the company’s integrated approach to Cost Management.</p><p><a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic-2-5-Cost-Management-Strategies.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-5-Cost-Management-Strategies.png?profile=RESIZE_710x" /></a></p><p>The 5 Cost Management Strategies can be applied throughout the product life cycle with one technique used during the product design and the rest during manufacturing.</p><ol><li><strong>Target Costing</strong>. This is a technique applied during the design stage. Target Costing is best used when the manufacturing phase of the life cycle of a product is short.</li></ol><ol start="2"><li><strong>Product-specific Kaizen Costing</strong>. This is a technique applied during the early stages of the manufacturing phase. It enables the rapid redesign of a new product to correct for any cost overruns. The primary rule in Product-specific Kaizen Costing is that the product’s functionality and quality have to remain constant.</li></ol><ol start="3"><li><strong>General Kaizen Costing.</strong> The third Cost Management Strategy, this technique is applied during the manufacturing phase. It focuses on the way a product is manufactured with the assumption that the product’s design is already set. This technique is effective when addressing manufacturing processes that are used across several product generations.</li></ol><ol start="4"><li><strong>Functional Group Management</strong>. This is the technique that is applied in the production process. Functional Group Management consists of breaking the production process into autonomous groups and treating each group as a profit instead of a cost center. The switch to profit as opposed to cost allows groups to increase the throughput of production processes even if changes result in higher costs. It enables the change in mindset that functional group management induces.</li></ol><ol start="5"><li><strong>Product Costing</strong>. The 5<sup>th</sup> Cost Management Strategy, this is the technique that coordinates the efforts of the other four techniques. It does coordination work by providing the other four techniques with important, up-to-date information.</li></ol><h3><strong>Target Costing vis-a-vis Kaizen Costing</strong></h3><p><a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181">Kaizen Costing</a> as known as continuous improvement costing. It is a method of reducing managing costs. Kaizen Costing has a similarity with Target Costing but it also has its differences. (Note: <a href="https://flevy.com/business-toolkit/kaizen">Kaizen</a> is the Japanese term for <a href="https://flevy.com/business-toolkit/continuous-improvement">Continuous Improvement</a> and often tied to the philosophy of <a href="https://flevy.com/lean-management">Lean Management</a>.)</p><p>Both Kaizen Costing and Target Costing can achieve results with lower resources. This is basically their similarity. On the other hand, the differences lie in their usage and involvement.</p><p>Target Costing is used on the design stage and requires the involvement only of designers. On the other hand, Kaizen Costing is used during the manufacturing stage and requires high involvement of employees. The general idea of Kaizen Costing is to determine target costs, design products, and process to not exceed those costs.</p><p>Interested in gaining more understanding of these <a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181">Cost Management Strategies</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/5-cost-management-strategies-4181">editable PowerPoint about <strong>5 Cost Management Strategies</strong> here on the Flevy documents marketplace.</a></p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Integrated Cost Management: An Organization’s Prescription for Lower Costhttps://globalriskcommunity.com/profiles/blogs/integrated-cost-management-an-organization-s-prescription-for2020-07-17T08:00:00.000Z2020-07-17T08:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p></p><p>There is a general belief among organizations that a large percentage of a product’s costs are locked in by design. It is assumed that <a href="https://flevy.com/blog/wp-content/uploads/2020/05/pic1-Integrated-Cost-Management-300x193.jpeg" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic1-Integrated-Cost-Management-300x193.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic1-Integrated-Cost-Management-300x193.jpeg?profile=RESIZE_710x" /></a>little can be done once the design is set. This assumption has influenced cost management programs across diverse products’ life cycles. As a result, the focus during the design phase is <a href="https://flevy.com/business-toolkit/cost-reduction">Cost Reduction</a> and <a href="https://flevy.com/business-toolkit/cost-containment">Cost Containment</a> during the manufacturing phase.</p><p>Yet, organizations that operated in a highly competitive market and demanded aggressive cost management showed that costs can be aggressively managed throughout the <a href="https://flevy.com/business-toolkit/product-lifecycle">product life cycle</a>. Various cost management strategies or techniques may be used to increase the program’s overall effectiveness. One of them is the <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">Integrated Cost Management</a>.</p><h3><strong>A Purview on Integrated Cost Management</strong></h3><p>Integrated Cost Management is every organization’s prescription for lower cost and higher profits. It is the 21<sup>st</sup> business approach to achieving Cost Management efficiency.</p><p>Integration is necessary for <a href="https://flevy.com/browse/stream/strategy-development">Strategy Development</a> as it can promote the achievement of the company’s profit objectives. In fact, there are major benefits to Integrated Cost Management. One of which is lowering of overall costs throughout the product life cycle.</p><p>Integrated Cost Management can facilitate a steady decrease in costs all the way to discontinuance. In fact, it can result in an annual cost reduction of about 17% during manufacturing, savings that exceed 30$%, and a designed-in cost of below 70%.</p><p>Achieving this requires an understanding of the Integrated Cost Management Approach.</p><h3><strong>The Integrated Cost Management Approach</strong></h3><p>The <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">Integrated Cost Management Approach</a> focuses on the integration of cost management techniques which can lead to higher levels of cost reduction and superior overall performance.</p><p><a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic-2-Integrated-Cost-Management.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-Integrated-Cost-Management.png?profile=RESIZE_710x" /></a></p><p>The Integrated Cost Management Approach takes into consideration 5 Cost Management Strategies.</p><ol><li><strong>Target Costing</strong>. This is the technique used or applied during the design stage. It is a feed-forward mechanism that enables the retooling of the design of new products to reduce costs while maintaining the desired level of product functionality and quality.</li></ol><ol start="2"><li><strong>Product-Specific Kaizen Costing</strong>. This is a technique that enables the rapid redesign of a new product during the early stages of manufacturing to correct any cost overruns. (Note: <a href="https://flevy.com/business-toolkit/kaizen">Kaizen</a> is the general term for Continuous Improvement and often associated with <a href="https://flevy.com/lean-management">Lean Management</a>.)</li></ol><ol start="3"><li><strong>General Kaizen Costing</strong>. General Kaizen Costing is a technique that focuses on the way a product is manufactured with the assumption that the product’s design is already set. It is generally effective in addressing manufacturing processes that are used across several product generations.</li></ol><ol start="4"><li><strong>Functional Group Management</strong>. This is a technique that is used to break down the production process into autonomous groups and treat each as a profit center.</li></ol><ol start="5"><li><strong>Product Costing</strong>. Product Costing is a technique that coordinates the efforts of the other four (4) techniques by providing important, up-to-date information.</li></ol><p>The 5 Cost Management Strategies enable organizations to better manage costs throughout the product life cycle, with just one (1) technique taking place during the product design and the rest during manufacturing.</p><h3><strong>The Key Takeaways</strong></h3><p>The application of the <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">5 Cost Management strategies</a> has its key takeaways. These can be used as a guidepost in its application and a model of general concepts that organizations may consider.</p><p>One key takeaway is significant savings can still be achieved with short life cycle products and aggressive cost management focused on product design. Taking to note this key takeaway, we have to consider that as the length of the manufacturing phase of the product’s life cycle increases, the opportunity for cost reduction increases. Further, there is a need to explore the value of integrating multiple cost management during manufacturing.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">Integrated Cost Management</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/integrated-cost-management-4172">editable PowerPoint about <strong>Integrated Cost Management</strong> here on the Flevy documents marketplace.</a></p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Advancing Digital Transformation in the Highest Form: The Next-gen Operating Modelhttps://globalriskcommunity.com/profiles/blogs/advancing-digital-transformation-in-the-highest-form-the-next-gen2020-03-08T06:00:00.000Z2020-03-08T06:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p>Companies often know where they want to go when it comes to <a href="https://flevy.com/browse/stream/strategy-development">Strategy Development</a>. Companies want to be more agile, quicker to react, and more effective. They want to deliver<a href="http://flevy.com/blog/wp-content/uploads/2019/11/pic-1-Next-gen-Operating-Model-240x300.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/11/pic-1-Next-gen-Operating-Model-240x300.jpeg?profile=RESIZE_710x" width="240" class="align-right" alt="pic-1-Next-gen-Operating-Model-240x300.jpeg?profile=RESIZE_710x" /></a> great customer experience, take advantage of new technologies to cut costs, improve quality and transparency, and build value.</p><p>Yet, while most companies are trying to get better, the results tend to fall short. One-off initiatives in separate units do not deliver big enterprise-wide impact. Improvement methods that were adopted almost invariably yield disappointing results.</p><p>Senior leaders have a crucial role to take in making things happen. <a href="https://flevy.com/browse/stream/transformation">Business Transformation</a> cannot be a siloed effort. A <a href="https://flevy.com/browse/flevypro/digital-transformation-next-gen-operating-model-3976">Next-generation Operating Model</a> is essential to break through organizational inertia and trigger step-change improvements.</p><h3>Understanding the Next-gen Operating Model</h3><p>Companies need to commit to a Next-gen Operating Model if they want to build value and provide compelling customer experiences at a lower cost. <a href="https://flevy.com/browse/flevypro/digital-transformation-next-gen-operating-model-3976" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/11/pic-2-Next-gen-Operating-Model-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-Next-gen-Operating-Model-1024x768.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Integrated, Organization-wide Operational Improvement Program</strong>. This approach is focused on Customer Journeys and distinctive customer experience. The <a href="https://flevy.com/browse/flevypro/digital-transformation-next-gen-operating-model-3976">Integrated, Organization-wide Operational Improvement Program</a> is a holistic approach towards how operations can contribute to delivering distinctive customer experience. It cuts across organizational siloes in both customer-facing and end-to-end processes. This approach is a preferred organizing principle. Having multiple independent initiatives within separate organizational groups can deliver incremental gains. However, the overall impact can be underwhelming.</li></ol><ol start="2"><li><strong>Holistic Customer Journey</strong>. This is an approach that makes use of multiple capabilities instead of individual capabilities to achieve greater impact.</li></ol><p>The holistic <a href="https://flevy.com/business-toolkit/customer-journey">Customer Journey</a> is achieved when the 5 core capabilities are utilized.</p><h3>Discovering the 5 Core Capabilities</h3><p>There are 5 core capabilities essential in unlocking the most value in the shortest possible time. Two of the 5 capabilities are Digitization and <a href="https://flevy.com/business-toolkit/analytics">Advanced Analytics</a>.</p><p>Digitization is the process of using tools and technology to improve journeys. It has the capacity to transform customer-facing journeys by creating the potential for self-service. It has the power to reshape time-consuming transactional and manual tasks that are part of internal journeys more so when multiple systems are involved.</p><p>Another core capability worth knowing is Advanced Analytics. This is the autonomous processing of data using sophisticated tools to discover insights and make recommendations. It provides intelligence to improve decision making and enhance journeys when nonlinear thinking is required. This is very useful in claims triage, fraud management, and pricing.</p><p>There are 3 other core capabilities that are essentially important in these days of <a href="https://flevy.com/digital-transformation">Digital Transformation</a>. These are Intelligent Process Automation, Business Process Outsourcing, and Lean Process Design.</p><p>Intelligent Process Automation is an emerging set of new technologies that combine fundamental process redesign with process automation and machine learning. It can replace human effort in processes that involve aggregating data from multiple systems taking a piece of information from a written document and entering it as standardized data input.</p><p><a href="https://www.investopedia.com/terms/b/business-process-outsourcing.asp">Business Process Outsourcing</a> works best for processes that are manual. It uses resources outside the main business to complete specific tasks or functions. Back-office processing of documents and correspondence is an example of BPO.</p><p>The Lean process Design is one capability that helps companies streamline processes, eliminate waste, and foster a culture of <a href="https://flevy.com/business-toolkit/continuous-improvement">Continuous Improvement</a>. It is considered a versatile methodology as it can be applied in multiple processes.</p><p>Organizations can use these capabilities to achieve the greatest impact. The maximum effect, however, can be achieved when specific implementation guiding principles are followed.</p><p>Interested in gaining more understanding of the <a href="https://flevy.com/browse/flevypro/digital-transformation-next-gen-operating-model-3976">Next-gen Operating Model within the context of Digital Transformation</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/digital-transformation-next-gen-operating-model-3976">editable PowerPoint about <strong>Digital Transformation: Next-gen Operating Model</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Rapid Electrification of Automobiles Driving the Gate Driver IC Industryhttps://globalriskcommunity.com/profiles/blogs/rapid-electrification-of-automobiles-driving-the-gate-driver-ic2019-05-13T12:58:16.000Z2019-05-13T12:58:16.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>The growing prevalence of digital electronic devices, adoption of progressive electronic vehicles and advanced virtual systems have paved the way for huge growth opportunities for the <strong><a href="https://www.kbvresearch.com/gate-driver-ic-market/">Gate Driver IC</a></strong> technology. New products are being implemented by emerging industry players and smaller semiconductor companies are being acquired to strengthen their market presence and deliver power modules of the next generation.</p><p><a href="{{#staticFileLink}}8028288890,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028288890,original{{/staticFileLink}}" class="align-center" alt="8028288890?profile=original" /></a></p><p><strong>What is the Gate Driver IC Technology?</strong></p><p>Gate Drivers accept low-power input from an IC (Integrated Circuit) controller and generate high-current drive input for a high-power transistor gate such as IGBT or Power MOSFET. Integrated Circuit is a semiconductor wafer which is fabricated with thousands of tiny resistors, capacitors, and transistors.</p><p>An IC has a wide variety of features, including amplifiers, oscillators, timers, computer memory, and microprocessors. A gate driver IC acts as an interface between power switches and control signals. Power switches include IGBTs, MOSFETs, SiC MOSFETs, and GaN HEMTs. These solutions help to reduce the complexities of design, time for development, materials bill and board space. In addition, technology is intended to improve reliability.</p><p><strong>What do we need Gate Driver IC?</strong></p><p>Gate driver ICs are suitable for a variety of applications including major home appliances, industrial motor drives, solar inverters, UPS, switched-mode power supplies, high-voltage lightning, etc. In addition, the use of power transistors in different renewable energy systems has accelerated the acceptance among major manufacturers of gate driver ICs. Increased use of gate drivers for silicon carbide and gallium nitrite gate drivers implies advanced protection against short-circuiting.</p><p>A system needs a switch in most applications to be able to work properly. Since there are no ideal switches, the component has been selected for this task almost all the time is a MOSFET. Typically, a MOSFET needs a gate driver at the preferred frequency to do the on/off operation. MOSFETs include a gate drive circuit for translating the on/off signals from an analog or digital controller into the power signals needed to control the MOSFET.</p><p>Increasing urban development, climate change, and demographic changes are encouraging cities to develop their infrastructure to ensure seamless integration of renewable energies and stable grids while maintaining quality of life for urban residents as well. In addition, electronic systems are made compatible with technology upgrades due to improved technology optimization. Home appliances and other electronic systems are designed to interact with consumers via the internet, especially in-house security infrastructures such as automated door locks, smart plugs, and lightning. Therefore, adopting smart home and smart grid technology drives gate driver ICs sales.</p><p><strong>MOSFET Gate Drivers</strong></p><p>MOSFET driver ICs are implemented in power supply and motor driver applications to drive external MOSFETs. Typically architected in a bridge configuration, MOSFET drivers deliver the timing needed to ensure that only one MOSFET is operated at a time. For multiple applications, MOSFET drivers are used, including motor drivers and load switching to power supplies.</p><p><strong><em>Click Here For Free Insights:</em></strong> <em><a href="https://www.kbvresearch.com/news/gate-driver-ic-market/">https://www.kbvresearch.com/news/gate-driver-ic-market/</a></em></p><p>For increased efficiency in isolated designs, single and dual drivers with secondary-side synchronous drivers exist across the market space. Assessment kits are available for rapid prototyping and design verification. A system needs a switch in most applications to be able to function properly. Since there are no ideal switches, mostly a MOSFET is the component selected for this task. Generally, a MOSFET needs a gate driver to perform the on/off operation at the desired frequency.</p><p>A MOSFET is an acronym for the metal-oxide semiconductor's field-effect transistor. It is a field-effect transistor (FET), the main component in high-frequency, high-efficiency switching applications throughout the electronics industry. A MOSFET is a device controlled with four terminals namely a gate, a drain, a source, and a bulk.</p><p><strong>IGBT Gate Drivers</strong></p><p>An insulated gate bipolar transistor (IGBT) is a three-terminal power semiconductor device that is widely used as an electronic switch that combines high efficiency with rapid switching as it has been developed. It consists of four alternating layers (P-N-P-N) controlled by a metal-oxide-semiconductor (MOS) gate structure without regenerative action. The IGBT combines the simple gate-drive features of MOSFET with bipolar transistor high-current and low-saturation-voltage capabilities.</p><p>The IGBT incorporates as a switch in a single device an isolated FET gate for the control input and a bipolar power transistor. The IGBT is used in medium to high-power applications such as power supplies switched-mode, traction motor control, and induction heating. Large modules usually consist of many parallel devices and can have very high current handling functionality in the order of hundreds of amperes with 6500 V blocking voltages. These IGBTs are capable of controlling loads of hundreds of kilowatts.</p><p><strong>What’s obstructing the implementation of Gate Driver IC?</strong></p><p>Design complexity is one of the main reasons that slow down Gate Driver ICs' proliferation. In microprocessors, there are many transistors that should be highly reliable and have long lines of copper. The IC port driver design chain is much more complex than other processors. Various complexities, such as slimmer IC versions, cabinet usage, and others, impede the efficiency of gate drivers. Vigilant attention, precision, and skilled workforce are needed to create an appropriate gate driver, acting as a key obstacle to this industry's development.</p><p><strong>Ongoing trends and future expectations:</strong></p><p>Growing global concerns about climate change's negative effects along with alarming levels of pollution recorded in major cities have generated significant demand for electric vehicles. Due to higher petrol and diesel prices, demand for fuel-efficient vehicles has recently increased. Gate driver ICs play an important role in providing optimal solutions across a wide range of electric vehicle applications such as on-board chargers, grid-supporting energy storage, and high-power chargers.</p><p>Moreover, it is expected that the electric vehicle industry will record a substantial growth equivalent to the increase in its charging infrastructure. Therefore, the rise in electric vehicle adoption globally is expected to have a positive impact on the sales of gate driver ICs, which facilitates the efficient and high-power density supply of the vehicle. The <strong><a href="https://www.kbvresearch.com/gate-driver-ic-market/">Global Gate Driver IC Market</a></strong> is also expected to grow at a <strong><em>CAGR of 8%</em></strong> over the forecast period.</p></div>Basel Committee Ushers in Next Phase of Enterprise/Integrated Risk Managementhttps://globalriskcommunity.com/profiles/blogs/basel-committee-ushers-in-next-phase-of-enterprise-integrated2013-08-29T13:06:53.000Z2013-08-29T13:06:53.000ZSecondFloorhttps://globalriskcommunity.com/members/SecondFloor<div><p>The Basel Committee, which creates regulations for banks, has published a set of principles regarding effective risk data aggregation and risk reporting, which will provide a fantastic business case for risk professionals to improve their risk frameworks. I’ve included highlights below, but you can take a look at the full report<a href="http://www.bis.org/publ/bcbs239.pdf" target="_blank"> here.</a></p><p>The principles for effective risk data aggregation and risk reporting will be mandatory for globally systemically important banks (G-SIBs) from 2016, and the Basel Committee recommends that national regulators make them mandatory for domestically systemically important banks (D-SIBs). There are currently 29 G-SIBs, and D-SIBs will probably be the top four or five largest and/or most complex banks in each country. Beyond this, I believe the principles in the Basel document will become an industry standard by which all banks will be assessed by institutional investors and during due diligence processes for mergers and acquisitions.</p><p><strong>The Basel Committee’s principles cover four closely related topics, and are common sense, though not easily attainable: </strong></p><p>• Overarching governance and infrastructure </p><p>• Risk data aggregation capabilities </p><p>• Risk reporting practices </p><p>• Supervisory review, tools and cooperation </p><p>A couple excerpts from the report that will resonate with most practitioners explain why the principles are necessary. These explanations will come in handy as ‘I-told-you-so’ introductions to many a business case for the next steps in enterprise/integrated risk management frameworks and in business analytics at group level (because it’s ultimately the board and senior management that own this challenge):</p><p>• Ensure that management can rely with confidence on the information to make critical decisions about risk.</p><p>• Accurate, complete and timely data is a foundation for effective risk management. However, data alone does not guarantee that the board and senior management will receive appropriate information to make effective decisions about risk. To manage risk effectively, the right information needs to be presented to the right people at the right time. Risk reports based on risk data should be accurate, clear and complete. They should contain the correct content and be presented to the appropriate decision-makers in a time that allows for an appropriate response.</p><p><strong>Other elements within the principles that point to some solid professional challenges are:</strong></p><p>• Supervisors observe that making improvements in risk data aggregation capabilities and risk reporting practices remains a challenge for banks, and supervisors would like to see more progress</p><p>• These risk reporting capabilities should also allow banks to conduct a flexible and effective stress testing which is capable of providing forward-looking risk assessments</p><p>• When expert judgment is applied, supervisors expect that the process be clearly documented and transparent</p><p>• A bank’s board and senior management should promote the identification, assessment and management of data quality risks as part of its overall risk management framework.</p><p>• A bank’s risk data aggregation capabilities and risk reporting practices should be fully documented and subject to high standards of validation.</p><p>• Capabilities to incorporate new developments on the organisation of the business and/or external factors that influence the bank’s risk profile</p><p>• Risk management reports should accurately and precisely convey aggregated risk data and reflect risk in an exact manner. Reports should be reconciled and validated</p><p>The Basel principles for effective risk data aggregation and risk reporting might not look 100% practical for inclusion in the real world, as opposed to a wish-list paper exercise, but at SecondFloor we believe it creates the right mindset.</p><p><strong>The list of globally systemically important banks</strong>, it is created by the Financial Stability Board, and can be found at: <a href="http://www.financialstabilityboard.org/publications/r_121031ac.pdf">http://www.financialstabilityboard.org/publications/r_121031ac.pdf</a>. This latest list was created in Nov 2012 and will be updated again in Nov 2013.</p><p><strong><a href="http://info.secondfloor.com/ContactUs.html" target="_blank"><span>For more about SecondFloor’s solution for efficient analytics and critical and regulatory reporting, and how it can help with integrated risk management contact SecondFloor today.</span></a></strong></p><p><span> </span></p></div>