Annual Report 2020

Restructuring state enterprises

Organization and government regulation

Commercial law

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ANNUAL REPORT 2020 www.goldhammer.com

CONTENTS

CHAPTER 01

07 - Basic forms of ownership 10 - Classifications 12 - Management

CHAPTER 02

13 - Restructuring state enterprises 15 - Organization and government regulation 17 - Commercial law 18 - Capital

CHAPTER 03

22 - Intellectual property 24 - Partnership 26 - Corporation

CHAPTER 04

28 - Information businesses 29 - Investment 30 - Restructuring state enterprises 32 - Government regulation

gold hammer NUMBERS

65.000m

2

EN 527 OFFICE FURNITURE - WORK TABLES AND DESKS

250+

DIN 4551 OFFICE FURNITURE; REVOLVING OFFICE CHAIR WITH ADJUSTABLE BACK WITH OR WITHOUT ARM RESTS, ADJUSTABLE IN HEIGHT

4

ANNUAL REPORT 2020

>60

EN 581 OUTDOOR FURNITURE - SEATING AND TABLES FOR CAMPING, DOMESTIC AND CONTRACT USE

55+

RAL-GZ 430 FURNITURE STANDARD FROM GERMANY

5.000m

2

EN 1728:2014 FURNITURE - SEATING - TEST METHODS FOR THE DETERMINATION OF STRENGTH AND DURABILITY– UPDATED IN 2014.[50]

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gold hammer CEO & FOUNDER

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ANNUAL REPORT 2020

I was excited to see your opening for a

shipment back to vendors and providing

malfunctions). I consistently met my call-

customer service rep, and I hope to be

back-up cashiering during busy periods.

volume goals, handling an average of 56 to

invited for an interview.

Previously, I worked within two high-

60 calls per day.

My background includes serving as a

volume customer-support call centers for

In addition to this experience, I gained

customer service associate within both

a major telecommunications carrier and

considerable customer service skills during

call-center

environments.

a satellite television services provider.

my part-time employment as a waitress and

Most recently, I worked on the customer

In these positions, I demonstrated the

restaurant hostess while in high school.

service desk for Discount-Mart, where my

ability to resolve a variety of issues and

responsibilities included handling customer

complaints

merchandise returns, issuing refunds/store

service interruptions or cutoffs, repair

credits, flagging damaged merchandise for

technician delays/no-shows and equipment

and

retail

(such

as

billing

disputes, Sincerely, ADRIAN BAKER general manager

In addition to this experience, I gained considerable customer service skills during my part-time employment as a waitress and restaurant hostess while in high school.

“

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gold hammer COMPANY STORY So what does storytelling have to do with

or using your story to captivate investors

your business? Everything! If you can’t

and bring in the big bucks $$$. Once you

properly convey a story then your products

learn to tell a good story, your audience is

are not going to appeal to your audience.

always going to be wanting more, which will

Bates reminded us that we love stories so

turn your readers into leads, your leads into

much that we have to be trained to not fall

customers, and your customers into loyal

for anecdotal evidence. Why? “Because

customers.

our brains value stories over anything else,” states Bates.

6 KEY TIPS FOR BUSINESS STORYTELLING

Stories can be incorporated into all your forms of content: blogs, e-books,

Well, what if you’re an awful storyteller?

whitepapers, and even your “About us”

Then keep reading because I’m about to

page to captivate your audience. The value

share some of Bates TED-worthy wisdom.

of storytelling can also be transferred to other departments to grow your business – for example training your sales reps to tell the story of your company or product

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ANNUAL REPORT 2020

ALWAYS INCORPORATED THESE 5 MESMERIZING C’S. SO WHEN CRAFTING YOUR STORY LAY OUT THE CIRCUMSTANCES. SET THE SCENE AND GIVE THE VITAL

EVERY STORY NEEDS THE 5 C’S – CIRCUMSTANCE, CURIOSITY, CHARACTERS, CONVERSATIONS AND CONFLICT So why was Bates fascinated by his father’s tales of battle?

Because they always incorporated these 5 mesmerizing C’s. So when crafting your story lay out the circumstances. Set the scene

INFORMATION THAT WILL

and give the vital information that will provide context for your

PROVIDE CONTEXT FOR YOUR

reader. Use curiosity to leave the reader wanting more (this trick

READER. USE CURIOSITY TO

works in headlines too). If there is nothing to be curious about then why.

LEAVE THE READER.

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gold hammer

OUR PEOPLE So what does storytelling have to do with your business? Everything! If you can’t properly convey a story then your products are not going to appeal to your audience. Bates reminded us that we love stories so much that we have to be trained to not fall for anecdotal evidence. Why? “Because our brains value stories over anything else”.

ALWAYS INCORPORATED THESE 5 MESMERIZING C’S. SO WHEN CRAFTING YOUR STORY LAY OUT THE CIRCUMSTANCES. SET THE SCENE AND GIVE THE VITAL INFORMATION THAT WILL PROVIDE CONTEXT FOR YOUR READER. USE CURIOSITY TO LEAVE THE READER.

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ANNUAL REPORT 2020

11

gold hammer Gordon Blake CHAIRMAN, CEO & CO-FOUNDER

Chairman, CEO and Co-Founder of Blackstone. Mr. Schwarzman has been involved in all phases of the firm’s development since its founding in 1985. The firm is a leading global asset manager with $356 billion Assets Under Management (as of June 30, 2016). Mr. Schwarzman is an active philanthropist.

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Helena Plummer CO-FOUNDER

Prior to joining Blackstone Mr. James was Chairman of Global Investment Banking and Private Equity at Credit Suisse First Boston and a member of the Executive Board. Prior to the acquisition of Donaldson, Lufkin & Jenrette by Credit Suisse First Boston in 2000, Mr. James was the Chairman of DLJ’s

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ANNUAL REPORT 2020

Jake Davidson SR. MANAGING DIRECTOR

Senior Managing Director in the Tactical Opportunities Group. Before joining Blackstone in 2013, Mr. Hirsch was a Managing Director and Head of Credit Structuring at Deutsche Bank where he sourced and structured transactions for a wide range of corporate and institutional clients across multiple.

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Sergey Borisov PRESIDENT & CHIEF OPERATING OFFICER

Prior to joining Blackstone Mr. James was Chairman of Global Investment Banking and Private Equity at Credit Suisse First Boston and a member of the Executive Board. Prior to the acquisition of Donaldson, Lufkin & Jenrette by Credit Suisse First Boston in 2000, Mr. James was the Chairman.

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gold hammer

OUR PROJECTS PORTFOLIO

Being newly founded does not in itself make a company a startup.

Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an

O 14

entrepreneur starting a startup is committing to solve.

ANNUAL REPORT 2020

O RED BROCHURE

O COLORS

Startups use a casual attitude in some respects to promote ef-

Startups use a casual attitude in some respects to promote ef-

ficiency in the workplace, which is needed to get their business

ficiency in the workplace, which is needed to get their business

off the ground[citation needed]. In a 1960 study, Douglas Mc-

off the ground[citation needed]. In a 1960 study, Douglas Mc-

Gregor stressed that punishments and rewards for uniformity

Gregor stressed that punishments and rewards for uniformity

in the workplace are not necessary, because some people are

in the workplace are not necessary, because some people are

born with the motivation to work without incentives.

born with the motivation to work without incentives.

O OPTIMISM Startups use a casual attitude in some respects to promote efficiency in the workplace, which is needed to get their business off the ground[citation needed]. In a 1960 study, Douglas McGregor stressed that punishments and rewards for uniformity in the workplace are not necessary, because some people are born with the motivation to work without incentives.

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gold hammer SERVICES Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment.

SETTINGS

SECURITY

CHEMISTS CAN USE ISOTOPE ANALYSIS TO ASSIST ANALYSTS

A STARTUP IS A COMPANY DESIGNED TO GROW FAST. BEING

WITH ISSUES IN ANTHROPOLOGY, ARCHEOLOGY, FOOD

NEWLY FOUNDED DOES NOT IN ITSELF MAKE A COMPANY A

CHEMISTRY, FORENSICS, GEOLOGY, AND A HOST OF OTHER

STARTUP. NOR IS IT NECESSARY FOR A STARTUP TO WORK

QUESTIONS OF PHYSICAL SCIENCE. ANALYSTS CAN DISCERN

ON TECHNOLOGY, OR TAKE VENTURE FUNDING, OR HAVE

THE ORIGINS OF NATURAL AND MAN-MADE ISOTOPES IN THE

SOME SORT OF “EXIT”. THE ONLY ESSENTIAL THING IS

STUDY OF ENVIRONMENTAL RADIOACTIVITY.

GROWTH. EVERYTHING ELSE WE ASSOCIATE WITH STARTUPS FOLLOWS FROM GROWTH.” GRAHAM AOBIT ETUR?

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ANNUAL REPORT 2020

ANALYSIS

PRICES

ANALYSIS IS THE PROCESS OF BREAKING A COMPLEX TOPIC

THE ONLY ESSENTIAL THING IS GROWTH. EVERYTHING ELSE

OR SUBSTANCE INTO SMALLER PARTS IN ORDER TO GAIN A

WE ASSOCIATE WITH STARTUPS FOLLOWS FROM GROWTH.”

BETTER UNDERSTANDING OF IT. THE TECHNIQUE HAS BEEN

GRAHAM AOBIT ETUR? QUIAM SUNT AUDI DE RECTOTAT

APPLIED IN THE STUDY OF MATHEMATICS AND LOGIC SINCE

RERITIA A STARTUP IS A COMPANY DESIGNED TO GROW FAST.

BEFORE ARISTOTLE (384–322 B.C.), THOUGH ANALYSIS AS A

A STARTUP IS A COMPANY DESIGNED TO GROW FAST. BEING

FORMAL CONCEPT IS A RELATIVELY RECENT DEVELOPMENT.

NEWLY FOUNDED DOES NOT IN ITSELF MAKE A COMPANY A STARTUP.

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gold hammer MARKET RESEARCH PERTAINS TO RESEARCH IN A GIVEN MARKET. AS AN EXAMPLE, A FIRM MAY CONDUCT RESEARCH IN A TARGET MARKET, AFTER SELECTING A SUITABLE MARKET SEGMENT.

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“

ANNUAL REPORT 2020

Business Insider NON-PROFIT BODY PROMOTING OPEN SOURCE SOFTWARE

While companies take great pains to protect personally identifiable information, such as social security and credit card numbers, it’s often the seemingly innocuous information that can give fraudsters the ammunition to make a phishing email more believable, say, or an invoice payment

“Many organisations have lost money via these phishing apps - which often pretend to be something else, such as a Flash player or even a Bible app - when they’ve allowed people in their finance departments to access corporate bank accounts via mobile devices.”

Cloud-based apps often gain access to the camera, location, data and contacts on your phone. So you never know how much sensitive company information they may be snaffling.

We could be giving hackers, fraudsters and spies the keys to our company’s back door, particularly if we naively use the same log-in details for external apps as we do for internal work apps.

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gold hammer In addition to this experience, I gained considerable customer service skills during my part-time employment as a waitress and restaurant hostess while in high school.

“ COMPANY ORIENTATION 20

ANNUAL REPORT 2020

INFORMATION TRUSTED. FAST. PERFORMANT.

QUALITY TRANSPARENT, OPEN DESIGN.

SECURITY ENCRYPTED ONCE. TWICE. THRICE.

Password is built with modern, open

We document our entire encryption

source libraries and industry-proven

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Our security recipe starts with AES-

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256 bit encryption and uses multiple

performance, a technology stack you

are just a few of the processes we

techniques to protect your data at rest

can trust, and top-notch reliability.

document:

and in transit.

1Password runs on Amazon Web

• Tamper-proof, authenticated

Services, the largest and most secure

encryption using AES-GCM

infrastructure provider on the planet.

mode

Alongside great scalability and high

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PBKDF2-HMAC-SHA256

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• Secure vault sharing using

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asymmetric cryptography

MASTER PASSWORD

Not just the password you use to unlock your vault, it also plays a key role in encryption. Only you know your Master Password and it is not stored anywhere.

KEY CREATION, DERIVATION, AND SPLITTING TECHNIQUES

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devices.

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gold hammer FINANCIAL REPORT The FY 2012–2020 Financial Report, which includes the University’s audited financial statements, is available to view, download or print at the link below.

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No

Item

2010

2015

2020

1.

Agriculture and mining businesses produce

86.520

15.365

58.639

2.

Financial businesses include banks

58.639

58.639

15.365

3.

Information businesses generate profits

95.325

43.520

95.325

4.

Manufacturers produce products, either from raw

15.365

74.523

74.523

5.

Real estate businesses sell, rent, and develop

26.948

58.639

58.639

6.

Retailers and distributors act as middlemen

74.523

95.325

15.365

7.

Service businesses offer intangible

86.520

86.520

95.325

8.

Transportation businesses deliver goods

95.325

58.639

74.523

9.

Information businesses generate profits

74.523

95.325

58.639

10.

Retailers and distributors act as middlemen

15.365

74.523

15.365

143.520

183.520

195.325

ANNUAL REPORT 2020

86%

72%

24%

PROTECTION AGAINST UNFORESEEN PERSONAL EVENTS, AS WELL AS EVENTS IN THE WIDER ECONOMIES

TRANSFERENCE OF FAMILY WEALTH ACROSS GENERATIONS (BEQUESTS AND INHERITANCE)

EFFECTS OF TAX POLICIES (TAX SUBSIDIES AND/OR PENALTIES) ON MANAGEMENT OF PERSONAL FINANCES

There are three levels of managers, which are typically organized

making a profit (for the shareholders), creating valued products at a

in a hierarchical, pyramid structure. Senior managers, such as the

reasonable cost (for customers), and providing great employment

Board of Directors, Chief Executive Officer (CEO) or President of

opportunities for employees.

an organization, set the strategic goals of the organization and make decisions on how the overall organization will operate. Senior

SOME ORGANIZATIONS HAVE EXPERIMENTED WITH

managers provide direction to the middle managers who report to

OTHER METHODS (SUCH AS EMPLOYEE-VOTING MODELS)

them. Middle managers, examples of which would include branch

OF SELECTING OR REVIEWING MANAGERS, BUT THIS IS

managers, regional managers and section managers, provide

RARE.

direction to front-line managers. Middle managers communicate the strategic goals of senior management to the front-line managers.

In the public sector of countries constituted as representative

Lower managers, such as supervisors and front-line team leaders,

democracies, voters elect politicians to public office. Such

oversee the work of regular employees (or volunteers, in some

politicians hire many managers and administrators, and in some

voluntary organizations) and provide direction on their work.

countries like the United States political appointees lose their jobs

In profitable organizations, management’s primary function is the

on the election of a new president/governor/mayor.

satisfaction of a range of stakeholders. This typically involves

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gold hammer

SUCCES STORY A business, also known as an enterprise, agency

profit enterprises or state-owned public enterprises

or a firm, is an entity involved in the provision of

targeted for specific social and economic objectives. A

goods and/or services to consumers. Businesses are

business owned by multiple individuals may be formed

prevalent in capitalist economies, where most of them

as an incorporated company or jointly organised as

are privately owned and provide goods and services

a partnership. Countries have different laws that may

to customers in exchange for other goods, services,

ascribe different rights to the various business entities.

or money. Businesses may also be social non-

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ANNUAL REPORT 2020

FINANCIAL businesses include banks and other companies that generate profits through investment and management of capital.

INFORMATION businesses generate profits primarily from the sale of intellectual property - they include movie studios, publishers and Internet and software companies.

UTILITIES produce public services such as electricity or sewage treatment, usually under a government

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gold hammer Protection against unforeseen personal events, as well as events in the wider economies

56%

26% Effects of tax policies (tax subsidies and/or penalties) on management of personal finances

Transference of family wealth across generations (bequests and inheritance)

18% Effects of tax policies (tax subsidies and/or penalties) on management of personal finances

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43%

ANNUAL REPORT 2020

CAPITAL Financial economics is the branch of economics studying the

corporate finance theory. Financial econometrics is the branch

interrelation of financial variables, such as prices, interest rates and

of financial economics that uses econometric techniques to

shares, as opposed to goods and services. Financial economics

parameterize the relationships suggested.

concentrates on influences of real economic variables on financial ones, in contrast to pure finance. It centres on managing risk in the context of the financial markets, and the resultant economic

ALTHOUGH CLOSELY RELATED, THE DISCIPLINES OF ECONOMICS AND FINANCE ARE DISTINCTIVE.

and financial models. It essentially explores how rational investors would apply risk and return to the problem of an investment policy.

The “economy” is a social institution that organizes a society’s

Here, the twin assumptions of rationality and market efficiency lead

production, distribution, and consumption of goods and services,

to modern portfolio theory (the CAPM), and to the Black–Scholes

all of which must be financed.

theory for option valuation; it further studies phenomena and models where these assumptions do not hold, or are extended.

Economists make a number of abstract assumptions for purposes of their analyses and predictions.

“Financial economics”, at least formally, also considers investment under “certainty” (Fisher separation theorem, “theory of investment value”, Modigliani–Miller theorem) and hence also contributes to

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gold hammer CLIENT STATEMENTS

“ 28

One important thing to remember about an income statement is that it represents a period of time like the cash flow statement.

ANNUAL REPORT 2020

ALEXANDRA

ANTHONY

LILLIAN

ANDERSON

BERRY

PARSONS

Central European

Foreign Sales

Organisation for

Free Trade

Corporations

Economic

(CEFTA)

(FSCs)

Co-operation (OECD)

The purpose of requirements

The traceability thus established is

Requirements management involves

management is to ensure that an

used in managing requirements to

communication between the project

organization documents, verifies, and

report back fulfilment of company

team members and stakeholders, and

meets the needs and expectations

and stakeholder interests in terms of

adjustment to requirements changes

of its customers and internal or

compliance, completeness, coverage,

throughout the course of the project.

external stakeholders Requirements

and consistency. Traceabilities also

To prevent one class of requirements

management begins with the analysis

support change management as

from overriding another, constant

and elicitation of the objectives

part of requirements management

communication among members of

and constraints of the organization.

in understanding the impacts of

the development team is critical. For

Requirements management further

changes through requirements

example, in software development for

includes supporting planning for

or other related elements (e.g.,

internal applications, the business has

requirements, integrating requirements

functional impacts through relations to

such strong needs that it may ignore

and the organization for working with

functional architecture), and facilitating

user requirements, or believe that in

them (attributes for requirements).

introducing these changes.

creating use cases.

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CONTACT 15-17 Charlotte Street

Phone: (123)-456-7890

London W1T 1RJ

www.goldhammer.com

England

office@goldhammer.com

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