FORKLIFT benefits - Forklift Operator Certification Updated: 2023
 |
 |
 |
 |
 |
 |
 |
 |
FORKLIFT Forklift Operator Certification
Exam Detail:
The forklift operator certification is a practical examination designed to assess the skills and knowledge of individuals operating forklifts. This certification is essential for ensuring safe and efficient forklift operations in various industrial and warehouse settings. Here are the exam details for the forklift operator certification:
- Number of Questions: The certification exam typically does not consist of traditional written questions. Instead, it focuses on practical skills assessment and demonstration of knowledge.
- Time Limit: The time required to complete the certification exam may vary depending on the specific requirements and assessment criteria. Typically, the exam is completed within a few hours.
Course Outline:
The forklift operator certification course generally includes the following components:
1. Forklift Basics:
- Introduction to forklifts and their types.
- Understanding forklift components and controls.
- Safety regulations and guidelines for forklift operations.
2. Pre-Operation Inspection:
- Conducting a thorough inspection of the forklift before operation.
- Identifying and reporting any mechanical issues or safety hazards.
3. Forklift Operation:
- Safe starting and stopping procedures.
- Maneuvering the forklift in various environments and conditions.
- Lifting and stacking loads properly.
- Operating the forklift on ramps and inclines.
- Navigating through narrow aisles and congested areas.
4. Load Handling and Stability:
- Understanding load capacity and load center.
- Properly securing loads.
- Maintaining stability during load handling and transport.
5. Hazard Identification and Safety:
- Identifying common hazards in the workplace.
- Implementing safety measures to prevent accidents.
- Emergency procedures and protocols.
Exam Objectives:
The objectives of the forklift operator certification exam are as follows:
- Assessing the candidate's knowledge of forklift operations, safety guidelines, and regulations.
- Evaluating the candidate's ability to perform pre-operation inspections and identify potential hazards.
- Testing the candidate's skills in operating a forklift safely and efficiently in various scenarios.
- Ensuring the candidate understands load handling techniques, load stability, and load capacity limitations.
- Assessing the candidate's ability to identify and respond appropriately to workplace hazards and emergencies.
Exam Syllabus:
The specific exam syllabus for the forklift operator certification may cover the following topics:
1. Forklift types and components
2. Safety regulations and guidelines
3. Pre-operation inspection checklist
4. Starting, stopping, and steering procedures
5. Load handling techniques and stability
6. Maneuvering in different environments
7. Operating on ramps and inclines
8. Navigating through narrow aisles and congested areas
9. Load capacity and load center
10. Hazard identification and safety measures
11. Emergency procedures and protocols
It is important to note that the forklift operator certification exam may vary based on the specific requirements and regulations in different regions or countries. Candidates are advised to consult with authorized training providers or certification bodies to obtain accurate and up-to-date information regarding the exam content, procedures, and certification requirements.
MCFA Certification benefits
Other MCFA exams
FORKLIFT Forklift Operator CertificationFORKLIFT Braindumps
FORKLIFT Real Questions
FORKLIFT Practice Test
FORKLIFT dumps free
MCFA
FORKLIFT
Forklift Operator Certification
http://killexams.com/pass4sure/exam-detail/FORKLIFT
Question: 38
You can find out a load capacity, lift height and forklift weight by reading:
A . a manufacturer’s plate.
B . an owner’s manual.
C . a license plate.
Answer: A
Question: 39
Which of the following would best improve an organization’ s system of limiting data use?
A . Implementing digital rights management technology.
B . Confirming implied consent for any secondary use of data.
C . Applying audit trails to resources to monitor company personnel.
D . Instituting a system of user authentication for company personnel.
Answer: C
Question: 40
A forklift operator’s performance must be evaluated:
A . monthly.
B . yearly.
C . every three years.
Answer: C
Question: 41
A truck has a rated capacity of 2000 kg at 500 mm load center. This means:
A . that it will safely pick up a load of 2200 kg providing the load center is reduced.
B . that it will safely pick up a load of 2200 kg providing the load center is increased.
C . that it will not safely pick up a load of 2200 kg.
Answer: C
Question: 42
Whilst operating the lift truck in the working environment it is:
A . the operator’s responsibility to be aware of pedestrians at all times.
B . the pedestrian’s responsibility to keep a safe distance from the lift truck at all times.
C . the management’s responsibility to keep pedestrians off lift trucks at all times.
Answer: A
Question: 43
When is it possible to travel with a load raised at its maximum height?
A . Whenever there is sufficient clearance.
B . Whenever you know the floor to be free of bumps.
C . Whenever it improves your visibility.
D . Never.
Answer: D
Question: 44
Who can operate a forklift?
A . Any employee who is on duty.
B . Truck drivers.
C . Trained and authorized workers.
D . Supervisors.
Answer: C
Question: 45
What is the main purpose of the overhead guard?
A . To protect the operator if loose items such as boxes are dropped from height.
B . To stop the operator from being crushed in the event of a truck tipping over.
C . To protect the operator if a full load is dropped onto the truck.
Answer: A
Question: 46
Which two settings must be configured before enabling a Cisco UCS Manager domain for Cisco Intersight
connectivity? (Choose two.)
A . SMTP servers
B . SMTP reply-to address
C . NTP servers
D . syslog redirection
E . DNS servers
Answer: CE
Question: 47
Can a mobile phone be used when driving forklift?
A . True.
B . False.
Answer: B
For More exams visit https://killexams.com/vendors-exam-list
Kill your exam at First Attempt....Guaranteed!
The medical device sector must meet stringent regulatory requirements plus convince potential customers that they make reliable, safe products. Having a strong commitment to quality can help customers achieve both those aims and others.
Parts of the ISO 13485 process involve identifying and documenting processes. For example, company representatives must find all processes that have even a minor connection to manufacturing. Next, they must create written procedures to establish which elements could introduce risks to the product.
Those threats could range from contaminated equipment to poorly trained personnel. After bringing attention to the risks, company representatives must name and describe measures to mitigate the potential issues.
ISO 13485 does not spell out the specific measures for device manufacturers to take. However, the certification gets people in the mindset that quality happens at every stage of manufacturing and that ongoing efforts enable maintaining high standards.
Reducing the Likelihood of Longstanding Issues
Another component of ISO 13485 requires ongoing managerial reviews to determine whether previously implemented controls work as expected or if further tweaks would get better results. Unfortunately, some leaders see these evaluations as box-checking exercises and feel under excessive pressure to get them done.
However, gathering relevant data and creating processes to keep that information up-to-date and accessible can make it easier to carry out thorough, non-rushed reviews related to ISO 13485.Â
For example, looking at customer feedback, audit results, new regulatory requirements, and any details of corrective actions taken so far can help decision-makers verify whether quality controls related to ISO 13485 have the desired effects.
Additionally, these periodic reviews improve the chances of catching issues that could lead to faulty products or operational efficiencies. They encourage better visibility that limits the likelihood of an unaddressed issue causing long-term problems.
Increasing Marketplace Competitiveness
The most recent version of ISO 13485 requires that certified companies insist that any subcontractors conform to the standard, too. That means the commitment to quality extends beyond a particular organization. Many potential customers appreciate that, knowing that working with any new company poses challenges. ISO 13485 reduces many of them with its emphasis on quality.
Also, since ISO 13485 is an internationally recognized standard, it can help in cases where company leaders want to expand into other countries and boost their chances of success. Certification assists organizational leaders in conveying that they take quality seriously.
It’s vital to convince stakeholders of efforts to prioritize quality since medical devices directly affect people’s lives. Minimizing the chances of harm and increasing positive outcomes helps potential customers build trust in a company and decide it makes sense to work with or purchase from them.
Helping Products Stay on the Market Without Issues
Statistics indicate that approximately 4,500 medical devices and drugs get taken off the market owing to recalls. Just as managerial reviews of ISO 13485 processes can prevent persistent issues, a certified company is less likely to experience problems that lead to getting products pulled from shelves. In addition to the lost profits that such events cause, recalls can permanently damage the public’s reputation, making many people perceive a troubled brand as unsafe.
However, corrective and preventive actions get built into the ISO 13485 framework, helping company representatives identify and tackle problems faster than they otherwise might. It’s also advantageous that getting certified can help create and maintain a culture of personal responsibility within the organization.
Once an employee understands that a single missed step or ignored protocol could cause quality issues that affect a whole organization, they’ll likely become more conscious of their behaviors and choices made while working.
Plus, if a company does experience a recall, being ISO 13485-certified should make it easier to target where things went wrong and prevent future issues. Doing those things should bolster public trust and reassure people that a device manufacturer has its operations under control.
ISO 13485 Certifications Strengthens Medical Device Companies
The medical device sector is a high-pressure industry where people praise innovation as long as it doesn’t sacrifice user safety. Moreover, manufacturers must respond to demand spikes, as instances like the surge in ventilator needs during the COVID-19 pandemic showed.
Getting an ISO 13485 certification can help a company make positive, permanent quality and process improvements. Thus, representatives from certified companies often find that ISO 13485 contributes to organizational resilience. It’s not right for every organization, but the associated benefits make it well worth consideration.
Microsoft is best known for its Windows operating systems and Office software. But the company has a much broader product portfolio that includes online services (Bing, MSN, advertising), gaming (Xbox 360), hardware (tablets, PCs, keyboards and mice) and more. The company also has a sizable certification program that turns out qualified administrators and technicians to support its system and application products.
Achieving IT certifications through the Microsoft Certification Program shows a person’s competence in a specific IT role, and it can result in all kinds of work-related and personal benefits. For example, studies show that IT certifications increase the chances of landing a job (or getting a promotion), and over 80 percent of hiring managers report IT certifications are medium to high priority in hiring decisions.
Microsoft certification program overview
Currently, the Microsoft Certification Program is divided into seven main categories:
- Cloud Platform and Infrastructure: This category encompasses business intelligence, Windows Server 2016, Microsoft Azure, machine learning, cloud data platform solutions, data analytics and big data, software-defined data centers, server infrastructures, private and hybrid clouds, DevOps, and more. This is the “new mainstream” for Microsoft certification.
- Mobility: This category is for end-user and desktop topics, including Windows 10, desktop and enterprise applications, working with System Center Configuration Manager and Intune, and planning for and managing devices in an enterprise setting.
- Data Management and Analytics: This arena now incorporates machine learning, business intelligence, business applications, and data management and analytics, along with Microsoft SQL Server 2016 and other Microsoft database technologies. Database development is also important and includes working with Transact-SQL and developing SQL databases. Business applications include extensive coverage of Microsoft Dynamics 365 and Microsoft Dynamics AX. Data management and analytics cover a range of topics, including cloud data platform solutions, big data analytics solutions, database solutions, implementing data models and reports, and various aspects of business intelligence solutions.
- Productivity: This category brings the Microsoft Office Specialist (MOS) credentials together with those related to Microsoft productivity offerings, such as Exchange Server, SharePoint Server and Skype for Business, as well as Office 365 identities, requirements and services.
- App Builder: This is a development-oriented category that covers the ins and outs of using Microsoft solutions and platforms to build compatible software. Topics in this category include architecting, designing, testing and building solutions around Azure, programming in HTML5 with JavaScript and CSS3, developing ASP.NET MVC Web apps, managing development throughout the entire software lifecycle, and more
- Business Applications: This category focuses on Microsoft Dynamics 365 platforms and technologies, including Dynamics 365 for Sales, Customer Service, Marketing, Distribution and Trade, Trade, financial management (Finance and Operations), Retail, Talent, and Field Service and other focused applications.
- Core Infrastructure: Core Infrastructure focuses on virtualization, storage, networking, system management, identity management, and modern data centers.
Certifications within the Microsoft Certification Program include the following credentials:
- Microsoft Technology Associate (MTA)
- Microsoft Certified Solutions Associate (MCSA)
- Microsoft Certified Solutions Expert (MCSE)
- Microsoft Solutions Developer (MCSD)
- Microsoft Office Specialist (MOS)
After you pass your first qualifying Microsoft certification exam, you are deemed a Microsoft Certified Professional (MCP). MCP status provides access to a benefits and exams dashboard, with certificates and transcripts, downloadable certification logos, promotional offers and lots more. You also get the MCP designation on your Microsoft transcript. It’s important to understand that only the MCSA, MCSD and MCSE qualify as MCP certifications. Neither MTA nor MOS certifications qualify for MCP status, and none of those exams are prerequisites for MCSA, MCSE or MCSD certifications.
In addition to the certifications outlined above, Microsoft offers its MCT: Microsoft Certified Trainer and MCE: Microsoft Certified Educator credentials to those interested in teaching others about Microsoft technologies and products.
Microsoft recently released a new set of role-based certifications focused on Azure and Microsoft 365 developers, administrators, and solution architects.
Microsoft Cloud certifications
The Microsoft Cloud certification track includes MTA and MCSA credentials. Within the MTA program, there is one relevant certification: Cloud Fundamentals. To earn the MTA: Cloud Fundamentals credentials, candidates must pass a single exam that validates knowledge and skills using basic Microsoft cloud services. Candidates should have experience using firewalls, network ports, Office 365, network topologies and devices, and Microsoft Intune.
The MCSA Cloud track includes BI Reporting, SQL 2016 BI Development certs, Windows Server 2012, and Windows Server 2016 credentials. The Windows Server certifications require three exams each while BI Reporting and SQL 2016 BI Development require only two exams.
Microsoft Mobility certifications
The Microsoft Mobility certification track includes MTA, MCSA and MCSE certifications. The MTA program has just one relevant certification – MTA: Mobility and Device Fundamentals. —The MTA: Mobility and Device Fundamentals certification is earned by passing a single exam that attests to a candidate’s knowledge of mobility and Windows devices. Candidates should possess practical experience with Active Directory, Windows devices, Windows-based networking, network topologies and ports, firewalls, and antimalware products.
MCSA: Windows 10 is the only MCSA Mobility track credential available. Earning the MCSA: Windows 10 requires passing two exams.
The remaining credential in this track is the MCSE: Mobility. This requires earning the MCSA: Windows 10 plus passing one more exam, from a list of two possibilities that deal with Windows desktops and enterprise applications, or administering System Center Configuration Manager and Cloud Services Integration.
Both the MCSA: Mobility and MCSE: Mobility credentials retire on March 31, 2019. If earned prior to the retirement date, the credentials will continue to show as “active” certifications on your transcript. The MCSA: Windows 10 will be replaced by a new role-based credential – the Microsoft Certified: Modern Desktop Administrator Associate. Two exams are required to earn this credential. At present, no announcement has been made regarding whether the Modern Desktop Administrator Associate credential will become a prereq to the MCSE: Mobility. There’s a lot of ongoing ferment in MS certification programs right now. We expect 2019 to see major changes in MS’s cert programs and offerings. Next year’s update should be a big one!
Microsoft Data certifications
Microsoft’s Data certification track includes the MTA, MCSA and MCSE. (To see the Data track, go to the Microsoft Certification page and click Data from the Category dropdown menu.) The MTA program requires one exam on database fundamentals. There are six certifications in the MCSA Data track– namely, Data Engineering with Azure, Machine Learning, SQL 2016 BI Development, SQL 2016 Database Administration, SQL 2016 Database Development, and SQL Server 2012/2014. All certs require two exams except for SQL Server 2012/2014, which requires three. The Data Engineering with Azure and Machine Learning certifications both retire on June 30, 2019.  Â
The MCSE Data category includes a single certification, the MCSE: Data Management and Analytics.
The prerequisite MCSAs that qualify for MCSE: Data Management and Analytics are SQL Server 2012/2014, SQL 2016 Database Administration, Database Development, BI Development, Machine Learning, BI Reporting, or Data Engineering with Azure. One additional exam from a list of 13 possibilities must be passed to earn this credential. Topics covered include cloud data platform solutions, big data analytics solutions, developing or designing SQL Server databases, implementing data models and reports, designing business intelligence solutions, implementing a data warehouse, developing SQL data models, analyzing big data with Microsoft R, cloud data science with Azure machine learning, data engineering with Azure HDInsight, and implementing with Azure Cosmos DB solutions.
Microsoft Productivity certifications
Certifications in the Microsoft Productivity category vary widely, from proving competency in using a single Office product to managing Office 365 services and user login credentials. This track is also fairly large; it includes an MCSA and MCSE certification as well as Microsoft Office Specialist (MOS) offerings.
The MCSA Productivity track includes a single certification – the MCSA: Office 365. Two exams are required to obtain the credential. This credential is targeted to retire on Mach 30, 2019. The MCSE: Productivity certification requires candidates possess either the MCSA Office 365, Windows Server 2012, or Windows Server 2016 credential as a prerequisite. Candidates must also pass one additional exam, from a list of eight possibilities. Topics covered include Exchange Server, SharePoint Server and Skype for Business, for multiple versions of these platforms. Â
Microsoft offers a MOS Office 2016 certification for each Office application (Word, Excel, PowerPoint, Outlook, Access, and Outlook). Office 2013 credentials are still available, but unless you have a specific reason for achieving them, focus on Office 2016.
The MOS 2016 Expert certification identifies individuals with advanced Office skills and requires candidates to pass two exams. The MOS 2016 Master certification is the pinnacle of the MOS Certification Program and requires successful completion of six exams.
Microsoft App Builder certifications
The Microsoft Developer certification path includes MTA, MCSA and MCSD certifications. The MTA program recognizes individuals who are entry-level software developers. The certification requires candidates to pass one of five exams. Possible topics include software development fundamentals, HTML5 app development fundamentals, and intro to programming using block-based languages, Python or JavaScript, and using HTML and CSS.
There are two credentials in the Microsoft App Builder MSCA track. The MCSA: Universal Windows Platform (UWP) credential prepares candidates to tackle professional development projects. They must pass two exams, one on programming in C#, the other on developing mobile apps. The MCSA: Web Applications credential prepares candidates for building web-based applications. They must pass two exams, one of which is required while candidates may choose from two possibilities for the second exam. All candidates must take the exam relating to developing ASP.NET MVC Web applications. Topics for the second exam include programming in HTML5 with JavaScript and CSS3 or programming in C#.
The MCSD Developer track consists of the MCSD: App Builder certification. It requires earning either the MSCA: Web Applications or MCSA: UWP as its prerequisite, followed by your choice of one exam from a list of five possible options. Topics covered in include architecting and developing Azure solutions, developing Azure and web services, developing mobile apps, programming in HTML5 with JavaScript and CSS3, programming in C#, developing ASP.NET MVC Web apps, or developing MS Azure and Web services.
Microsoft Business Applications certifications
The Microsoft Business Applications certifications include MCSA and MCSE certifications. There are two MCSA options: MCSA: Microsoft Dynamics 365 and MCSA: Microsoft Dynamics 365 for Operations. Each requires passing two exams. The plain vanilla Dynamics 365 certification draws from a list of two exams, both of which are needed to meet its requirements. One exam covers Dynamics 365 customer engagement online deployment, while the other covers Dynamics 365 customization and configuration. The MCSA: Microsoft Dynamics 365 credential retires on April 30, 2019.
The Dynamics 365 for Operations draws from a list of three exams, one of which is required while candidates may choose the topic for the second exam. Topics covered include administering a Microsoft SQL database infrastructure, provisioning SQL databases, and development, extensions and deployment for Microsoft Dynamics 365 for Finance and Operations (required).
The MSCE: Business Applications credential is the sole MCSE item for this certification track. It takes either of the Microsoft Dynamics MCSAs covered in the preceding paragraph as its prerequisite, then requires candidates to pass another exam drawn from a list of eight possibilities. Topics covered include Microsoft Dynamics 365 for Sales, customer service, marketing, distribution and trade, trade, financial management (finance and operations), retail, talent, and field service.
Core Infrastructure
Microsoft offers a single credential focused on core infrastructure – MCSE: Core Infrastructure. The MCSE: Core Infrastructure certification validates a candidate’s knowledge and skills related to data centers, virtualization, systems management, storage, networking and identity management. The credential requires either the MCSA: Windows Server 2016 or MCSA: Windows Server 2012 as a prerequisite. In addition to the MCSA, candidates must pass a single exam from seven topics. Exam topics include designing and implementing Cloud Data Platform solutions, designing and implementing Big Data Analytics solutions, securing Windows Server 2016, implementing software-defined datacenters, designing and implementing server infrastructures, implementing advanced server infrastructures, and configuring and operating a hybrid cloud with Microsoft Azure Stack.
Microsoft Trainer and Educator certifications
MCT: Microsoft Certified Trainer
Folks who teach others about Microsoft technologies and products should consider (and are often required to have) the Microsoft Certified Trainer (MCT) certification. The MCT can be obtained by submitting an application to Microsoft that proves that you hold a current Microsoft certification, one year of instruction experience (supporting reference required), plus verifiable instructional skills in the form of an acceptable instructor certification (such as CompTIA CTT+, Microsoft Certified Trainer Instructional Skills Certification (MCT-ISC) or IAMCT Approved Technical Trainer).
To renew, credential holders must possess at least one current Microsoft credential, meet the minimum instruction requirements of teaching at least one class, and maintain a Metrics that Matter quality score of at least seven. (Check the MCT website for a list of qualifying certifications and instructor certifications.)
As an MCT, you have access to the MCP benefits and exams dashboard, prep kits, the MCT community, Microsoft Online Labs and much more.
MCE: Microsoft Certified Educator
The Microsoft Certified Educator (MCE) credential is aimed at educators in academia, such as colleges, universities and training facilities. To become an MCE, you must demonstrate technology literacy by passing at least one exam.
The literacy competency is mapped to the UNESCO ITC Competency Framework for Teachers, Technology Literacy and includes education policy, curriculum and assessment, pedagogy, ICT/technology tools, organization and administration, and professional development.
Training and certification preparation materials
Microsoft offers training to candidates directly, both in the classroom and online. The company’s Microsoft Virtual Academy (MVA) is a great place to start poking around: it offers a huge range of free training courses, many of them at least relevant to various certification topics if not directly focused on such topics.
There’s also a huge aftermarket for Microsoft training, self-study and certification preparation. Pearson operates Microsoft Press on Microsoft’s behalf, where you can find self-study guides for all the popular Microsoft cert exams (and many of the not-so-popular exams as well). Pearson’s IT Certification imprint (online at PearsonITCertification.com) also offers study guides, exam crams (a series I invented), practice tests, video training materials and much more for Microsoft certification candidates. Wiley/Sybex and Osborne/McGraw-Hill also offer certification focused imprints, book series and generally provide good coverage of major cert topics as well, also including most popular Microsoft certifications and related exams. Pearson’s mindhub online store also offers “official” practice tests approved by Microsoft.
There’s a wealth of excellent material available to help candidates prepare. Look to online and peer reviews, study groups and rating sites to separate the wheat from the chaff.
Water is a precious commodity and is subject to strict standards all over the world. At the same time, it is a scarce resource with environmental protection standards. As one of the central spaces in a house, kitchens have high occupancy, kitchen fixtures experience heavy use, and access to water is crucial. Thus, there are various benefits in selecting hansgrohe certified kitchen fixtures to better ensure product quality and durability.
Understand the Benefits of Using Certified Kitchen Fixtures
- Increased reliability in terms of product durability and quality
- Can be used to meet building standards around the world
- Improve sustainable building practices
- Help to ensure that water and water products are hygienic
Know What Types of Certificates are Required in your Region
Products that have contact or interact with water are required to meet strict quality and safety standards. This includes the DVGW product certification from the German Technical and Scientific Association for Gas and Water, which ensures that products which interact with drinking water are hygienic and safe.
Similarly, there are various building standards that are meant to increase the overall sustainability of water systems. For example, the DGNB Seal from the German Sustainable Building Council and US LEED certification are both used to increase energy-saving practices in construction methods and building systems.
Choose the Right Certified Products for the Project
hansgrohe kitchen and bathroom fixtures including faucets, sinks, mixers, accessories, and more comply with these quality and safety standards with various types of certifications. hansgrohe offers a complete list of product certificates that can be helpful in working with contractors and architects on new buildings and renovation projects. hansgrohe also includes a range of international building certificates to meet water-savings requirements.
Today’s organizations are looking for better ways to pull the information they need from massive volumes of data available to them. Big data system administrators store, manage and transfer large sets of data, making them amenable to analysis. Data analytics is the practice of examining the raw data to identify patterns and draw conclusions. Business intelligence involves the collection and organization of information to report on business activities, often pulling data from those very sets.
Along with the surge in big data interest comes a growing number of certifications to recognize the necessary skills in working with enormous data sets. The target audience is IT professionals with a background in analytics, data mining, business intelligence or data management, along with a knack for and interest in mathematics and statistics. Big data engineers are in reasonably high demand and usually command salaries of $101,000 or more, where data scientists average about $128,500 in salary.
We took a detailed look at certifications from INFORMS, Microsoft, MongoDB, Oracle and SAS. Check out the results from our informal search of various job boards to see which certifications employers really want. However, these results are a snapshot from a specific day, time and geography, so they may not reflect actual job demands in your locality when you search for yourself.
Job board search results (in alphabetical order, by certification)
| Certification | SimplyHired | Indeed | LinkUp | >Total | |
|---|---|---|---|---|---|
| CAP* (INFORMS) | 27 | 39 | >94 | 69 | 229 |
| >MCSE: Data Management and Analytics (Microsoft) | 377 | >271 | 31 | 320 | >999 |
| >MongoDB Certified DBA | 12 | 13 | 8 | 5 | 38 |
| >MongoDB Certified Developer | 104 | 124 | 49 | 31 | 308 |
| Oracle Business Intelligence | 323 | >503 | 713 | 194 | 1,733 |
| SAS Certified Data Scientist | 88 | 11 | 10 | 18 | 228 |
*Certified Analytics Professional
CAP: Certified Analytics Professional
INFORMS is a membership-based association aimed at practitioners, researchers and instructors in analytics, as well as operations research and management sciences. The association reports about 12,500 members from nearly 90 countries, most of whom participate in various educational and networking opportunities via their INFORMS membership.
The organization also sponsors the vendor-neutral Certified Analytics Professional (CAP) certification. CAP focuses on seven domains of the analytics process:
- Business problem framing
- Analytics problem framing
- Data
- Methodology selection
- Model building
- Deployment
- Model lifecycle management
Candidates must meet rigorous education and experience requirements, obtain confirmation from a supervisor (current or former) of acceptable soft skills, agree to a code of ethics, and pass one computer-based exam.
This credential must be renewed every three years by earning 30 professional development units (PDUs). INFORMS also requires a $100 annual maintenance fee beginning in the fourth year after certification.
CAP facts and figures
| >Certification name | Certified Analytics Professional (CAP) |
|---|---|
| Prerequisites and required courses | Eligibility to sit for exam:
|
| >Number of exams | 1 exam (100 multiple-choice questions, 3 hours) |
| Cost per exam | Exam: $495 member, $695 nonmember
Re-examination fee: $300 member, $400 nonmember Exams administered by Kryterion. Candidates must be approved by INFORMS and pay for the exam before registering with an exam site. |
| >URL | https://www.certifiedanalytics.org/ |
| Self-study materials | The Certified Analytics Professional Candidate Handbook includes exam topics (the 7 domains), sample test questions and a list of self-study resources. A study guide is available on the CAP website (membership or registration required). |
MCSE: Data Management and Analytics
Microsoft is part of the big data mix with its MCSE: Data Management and Analytics certification, which leans heavily toward SQL Server 2016 and emphasizes cloud environments and reporting. This credential replaces the Microsoft Certified Solutions Expert (MCSE): Business Intelligence, which retired on March 31, 2017.
The MCSE: Data Management and Analytics requires candidates to earn an MCSA certification and then pass an elective exam. The MCSA certifications to choose from are MCSA: SQL Server 2012/2014; MCSA: SQL 2016 Database Administration; MCSA: SQL 2016 Database Development; MCSA: SQL 2016 BI Development; MCSA: Machine Learning; MCSA: BI Reporting; and MCSA: Data Engineering with Azure. There are 12 MCSE elective exams, which focus on a variety of cloud, big data analytics and BI topics, with machine learning now added to the MCSA certifications.
To maintain this certification, you must pass an additional elective exam each year. Doing so adds an entry to your transcript that indicates your commitment to staying current on technologies and expanding your skill set.
MCSE: Data Management and Analytics facts and figures
Number of exams
| Certification name | MCSE: Data Management and Analytics |
|---|---|
| Prerequisites and required courses | Prerequisites (1 required):
Training courses available and recommended for all certifications but not required. |
One of the following:
|
|
| Cost per exam | $165, administered by Pearson VUE. |
| URL | https://www.microsoft.com/en-us/learning/mcse-data-management-analytics.aspx |
| Self-mtudy Materials | Each exam page has links to instructor-led training, exam prep videos, self-paced training, practice tests and books. |
*Exam to be retired on June 30, 2019. Replacement test not yet released but should be available prior to that date.
MongoDB NoSQL certifications
MongoDB is both an open-source, NoSQL document-oriented database and the name of the company providing that technology. Because of its document-oriented NoSQL model, MongoDB is well suited for managing large amounts of loosely structured data, as is so often the case in big data projects.
MongoDB was deemed a leader in Forrester Wave: Big Data NoSQL, Q3 2016, and Gartner selected MongoDB as a challenger in its 2016 Magic Quadrant for Operational Database Management Systems. The database ranks fifth in overall database engine popularity as of March 2019.
The MongoDB NoSQL certification program recognizes developers and operations professionals who can create and run applications on MongoDB. The program offers two associate-level credentials: MongoDB Certified DBA and MongoDB Certified Developer. The company plans to eventually roll out higher-level certifications. The current exams are based on MongoDB V4.0.
MongoDB offers private, instructor-led classroom training as well as free online video training through MongoDB University. Each online course typically runs for 3-7 weeks and features video lectures, quizzes, weekly assignments, and a final exam or project. Students may use the forums to interact and address each other’s questions; instructors and teaching assistants monitor forums and jump in when needed.
For database professionals interested in venturing into big data projects and NoSQL databases, the MongoDB certification is certainly a worthwhile goal.
MongoDB NoSQL certification facts and figures
| >Certification name | MongoDB Certified DBA, Associate Level
MongoDB Certified Developer, Associate Level |
|---|---|
| Prerequisites and required courses | None; training recommended but not required |
| Number of exams | 1 exam per credential (multiple-choice questions, 90 minutes; delivered online through MongoDB’s proctoring partner) |
| Cost per exam | $150 (or local currency equivalent) |
| >URL | https://university.mongodb.com/certification |
| Self-study materials | MongoDB University offers public and private training, as well as free online courses. Each exam webpage includes a study guide and links to documentation, presentations and exam study sessions (if available). |
Oracle Business Intelligence certification
Oracle has one of the largest certification programs in the world, and it has granted more than 1 million Oracle and Sun certifications.
Oracle offers its Business Intelligence (BI) certifications across several applications and platforms, such as Business Intelligence Applications 7 for CRM, Business Intelligence Applications 7 for ERP, and Business Intelligence Foundation 11g. To narrow down the field, we focused on the Oracle Business Intelligence Foundation Suite 11g Certified Implementation Specialist credential.
Candidates for this certification are intermediate-level professionals (architects, analysts, developers and administrators) who work with Oracle Business Intelligence Suite solutions, performing tasks such as installing, building, querying, configuring, and managing the platform and BI dashboards.
Although anyone can attempt the exam, the certification is designed for members of the Oracle Partner Network who sell and deploy the technology.
New exams and training courses based on Oracle BI 12c are also becoming available as those courses and exams are released to the public.
Oracle Business Intelligence certification facts and figures
| Certification name | Oracle Business Intelligence Foundation Suite 11g Certified Implementation Specialist |
|---|---|
| Prerequisites and required courses | None.
Recommended: |
| Number of exams | 1 exam:Â 1Z0-591 Oracle Business Intelligence Foundation Suite 11g Essentials (75 multiple-choice questions, 120 minutes, 63% passing score) |
| Cost per exam | $245, administered by Pearson VUE. Exam vouchers may be purchased from Oracle University or Pearson VUE; Oracle Testing ID required to register; Oracle Partner Network members also need their OPN Company ID. |
| URL | https://www.oracle.com/partners/en/knowledge-zone/bi11g-essentials-exam-studyguide-1643168.pdf |
| Self-study materials | Training is available, including classroom, live virtual class, training on demand, self-study, learning streams and practice exams. Additional exam preparation materials are listed on the exam webpage. |
SAS Certified Data Scientist
SAS is a multibillion-dollar global corporation that specializes in business analytics software and services. The company’s well-honed certification program offers nine credentials across programming, information and data management, advanced analytics, and business intelligence.
Three noteworthy SAS certifications are the SAS Certified Data Scientist, SAS Certified Statistical Business Analyst Using SAS 9: Regression and Modeling, Business Intelligence Content Developer for SAS 9, and SAS Certified Big Data Professional Using SAS 9. We concentrated on the SAS Certified Data Scientist Using SAS 9.
Candidates for the Data Scientist certification should have in-depth knowledge of and skills in manipulating big data using SAS and open-source tools, using complex machine learning models, making business recommendations, and deploying models. Candidates must pass five exams to earn the SAS Certified Data Scientist credential.
SAS doesn’t require candidates to take certification courses as a prerequisite for exams, but the company offers an official curriculum for those who have the budget and need the extra preparation.
SAS “versioned” credentials, such as the SAS Certified Data Scientist Using SAS 9, do not expire. However, SAS may retire exams as new or enhanced software is released.
SAS Certified Data Scientist facts and figures
<td”>$180; Predictive Modeling exam is $250
See the Certification Discount Packages webpage for discounts for faculty, staff, students, veterans and others.
</td”>
| Certification name | SAS Certified Data Scientist Using SAS 9 |
|---|---|
| Prerequisites and required courses | SAS Certified Big Data Professional Using SAS 9
SAS Certified Advanced Analytics Professional Using SAS 9 See a list of courses that support Big Data and Advanced Analytics on the SAS Academy for Data Science webpage. Recommended Data Scientist training: SAS Certified Data Scientist (e-learning, $4,400; live instructor-led in Cary, North Carolina; 12 weeks, $16,000) |
| >Number of exams | 5 exams:
Exams include multiple-choice, short-answer and interactive questions (interactives are in simulated SAS environment). Exams available through Pearson VUE. |
| Cost per exam | |
| URL | https://www.sas.com/en_us/certification/credentials/advanced-analytics/data-scientist.html |
| Self-study materials | List of exam preparation training and materials available on individual exam pages. Free sample questions available. Practice exams ($500) available through SAS and Pearson VUE. |
Beyond the top 5: More big data certifications
It was a real challenge to whittle down this year’s list of popular big data certifications. The Cloudera Certified Professional Data Engineer (CCP Data Engineer) missed a spot in the top five by a small margin. The company also offers CCA Spark and Hadoop Developer and CCA Data Analyst certifications. Given the company’s leadership status in software and services based on Hadoop, the CCP Data Engineer certification is worth your consideration.
Other notable certifications include the IBM Certified Data Architect, the EMC: Data Science (EMCDS), and those from Amazon Web Services (AWS), Hortonworks, MapR and Teradata.
Check out Stanford’s Data Mining and Applications graduate certificate. Although it’s not a vendor-neutral or vendor-specific certification (it’s a college certificate), TechExams forum members like it in terms of popularity and job prospects. The certificate requires completion of three courses (nine college units) at a cost of $11,340 to $12,600. The Microsoft Professional Program (MPP) currently offers four tracks for online education with course completion certificates, including two relevant tracks: one on data science, the other on big data. These are worth checking out as well, and significantly cheaper than the Stanford certificate program.
There are many more. A quick Google search every month or two should reveal a growing list of big data, data analytics and BI certifications, and we think one or more of these is a smart way to spend your certification dollars.
Socialism is a loaded word in the United States—a country where capitalism is the prevailing economic system and is the basis for the system of government. One situation in which the word tends to come up is when Americans look at government programs, especially Social Security.
Social Security is a form of social welfare, but to understand what the debate is about, let’s first review some terms.
Key Takeaways
- Socialism is a form of economic production whereby workers co-own and co-produce goods and services and share in the profits.
- Social Security is one of the most popular and important financial security nets for retirees and disabled workers in the United States.
- Workers pay into the program while they are younger and then receive guaranteed lifetime income after retirement.
- Some people consider this socialism, as the government is involved in the rules, collection, and distribution of funds.
- Social Security is, at least, a form of social welfare that ensures that aging adults, people with disabilities, and their dependents have some minimum level of income.
Socialism as Government-Based Economic Production
Socialism is a form of economic production whereby workers co-own and co-produce goods and services and share in the profits. But the definition has recently been conflated with statist forms of government. Under this definition, the government owns and controls major industries, while the economy is centrally planned. As such, the government provides the majority of goods and services for its citizens.
Contrast this with capitalism, where businesses and private individuals own the tools and other means of production. They keep all the profits while paying workers a wage. As such, the market controls the economy.
In most modern countries, a free or market-run economy is subject to federal and state legislation and regulations. As such, these countries do not practice pure, laissez-faire capitalism. Some countries, such as Norway and Sweden, have mixed economies wherein providers of goods and services enjoy private ownership of resources, while citizens benefit from social-needs–oriented public services. This is known as social democracy or democratic socialism.
Communism is a more extreme form of socialism and lies at the far end of the economic spectrum. In its purest form, communism eliminates the concept of private property altogether.
Though the U.S. is clearly a capitalist country, the government plays a role in economic and financial affairs. One of the hallmarks of its federal system is Social Security, a government-run benefits program instituted in 1935 during the Great Depression.
Let’s examine the key components of Social Security benefits—specifically, the extent to which they might be considered a form of socialism.Â
Who Runs the Social Security System?
The Social Security system is run by the U.S. government—not individuals or businesses. It tracks earnings and benefits, runs the website that lets people check their benefits records, approves or denies retirement benefit applications, collects Social Security taxes, and distributes retirement, disability, and other benefits.
While the government hires independent contractors, such as Lockheed Martin, IBM, Dell, and others, to provide telecommunications, data storage, and other services, the government is in full control of Social Security.
Who Decides How Much to Contribute and When?
The U.S. Congress decides how much of your paycheck is taxed in order to contribute to the Social Security fund. Here's how it works for 2023:
- A total of 6.2% of your gross pay goes to Social Security, and your employer typically kicks in an equal amount.
- If you earn more than $160,200 in 2023, you don’t have to pay Social Security taxes on any additional earnings above that amount. In 2024, this amount increases to $168,600.
- If you’re self-employed, you pay the whole 12.4%, though that amount is reduced slightly when you take a tax deduction for the employer portion of that tax.
It’s not unreasonable to consider whether, even if you work for someone else, you’re effectively paying the whole 12.4%—“bearing the incidence of the tax” because if your employer didn’t have to make Social Security payments on your behalf, it could instead include that money in your paycheck.
The government also decides when you contribute. If you’re an employee, the taxes are taken out of each paycheck. If you’re self-employed, you generally pay a quarterly estimated tax and reconcile your tax payments when you file your annual return.
Below are the different revenue sources for the Old Age and Survivors Insurance Fund in 2022.
| Contributions to Social Security Trust Fund (2022) | |
|---|---|
| Source | Amount |
| Payroll Tax Contributions | $945.9 billion |
| OASDI Benefit Taxes | $47.1 billion |
| Interest Earnings | $63.5 billion |
| General Fund of the Treasury Reimbursements | $0.2 billion |
| TOTAL | $1,056.7 billion |
Social Security vs. Private Retirement Accounts
Individuals with private retirement savings accounts have more control over how much and when to contribute than they do with paying Social Security taxes. For example, if you work for a company that offers a 401(k) plan, you can decide what percentage of each paycheck (if any) to redirect to that account—although government regulations place restrictions on how much you can contribute.
The annual limit on 401(k) contributions is $23,000 in 2024, a $500 increase from 2023. This amount increases to $30,500 if you are 50 or older, thanks to the $7,500 catch-up contribution allowed by the government. You cannot contribute to a Roth IRA if your adjusted gross income (AGI) is $161,000 or higher for singles and $240,000 or higher for married couples filing jointly. This is an increase from 2023 maximum limits of $153,000 and $228,000, respectively.
Who Decides What to Pay Out and When?
With a private retirement account, such as a 401(k) or Roth IRA, you decide when to withdraw money from your account, and how much to take out. With some retirement accounts, the Internal Revenue Service (IRS) will make you pay penalties if you take out money before you reach a certain age or don’t withdraw enough money each year after reaching a certain age. Still, there’s much more flexibility here than with Social Security retirement benefits.
With Social Security, the government decides how much to give you and when. You can decide when to start receiving benefits, but it can't be until age 62 (where you collect the lowest benefit) and age 70 (where you collect the highest benefit).
While you can't change the size of your Social Security check, you are eligible for annual cost-of-living adjustments (COLAs) that the Social Security Administration gives beneficiaries each year to maintain their buying power. For 2023, Social Security and Supplemental Security Income (SSI)Â benefits increased by 8.7%. For 2024, the increase is 3.2%.
Once you start claiming benefits, you’ll get a check for the same amount every month, based on your lifetime earnings and your age when you started claiming benefits. You can’t decide to withdraw more money in months when you have higher expenses and less money in months when you have lower expenses, as you could with an IRA or 401(k).
If you find yourself terminally ill at 40, you can’t claim retirement benefits early based on what you contributed over the years. Keep in mind that you may qualify for Social Security disability insurance.
But you can cash out your private retirement accounts at any time without getting anyone’s approval, albeit with a penalty in some cases. Brokerage firms won't make you prove that you can’t work if you want to take an early withdrawal from your traditional IRA (though the IRS might if you want to avoid penalties by claiming a withdrawal for a medically-related hardship).
Can You Opt-Out of Social Security?
Few taxpayers can opt out of paying into the Social Security system. The Amish, Mennonites, and other religious groups that conscientiously object can sometimes claim a religious exemption from paying into the system as long as they also don’t receive or even qualify to receive any benefits. If you received any benefits, you may still qualify for a religious exemption if you repay them.
Some nonresident aliens don’t have to pay into the system, depending on which type of visa they have. Foreign government employees based in the United States and college students who are employed by their university are also exempt.
What about opting in? Under a public retirement system or a Section 218 agreement, some state and local government employees are covered while not paying into Social Security. These employees aren’t allowed to opt into the program.
With private retirement savings accounts, it’s totally up to you whether to contribute. Even if your employer automatically enrolls you in its 401(k) plan in an attempt to nudge you into contributing, you can opt out if you wish.
How Are Social Security Funds Managed?
The Social Security system is set up as an intergenerational wealth transfer. This means that all contributions go into one collective pot, so the funds aren’t held in our individual names. The Social Security taxes the government collects from current workers pay for the benefits of current retirees.
Depending on when you retire, how much you earned, and your marital status, you may see a better or worse return in terms of getting back more or less than you contributed.
The Threat of Depletion
Because different generations are different in size, this structure leads to what could be described as timing problems with paying out benefits. Taxes from the immense baby boomer generation comfortably supported the retirement of the relatively small Silent Generation (born between 1925 and 1945, many of those years scarred by the Great Depression and war) and the greatest generation (whose members fought in World War II).
With more and more boomers reaching retirement—and the fact that Generation X, the next generation, is smaller—it is estimated that Social Security’s reserves, also called the Old-Age and Survivors Insurance (OASI) Trust Fund, could be depleted by 2033.
According to the 2023 annual report from the Social Security and Medicare Boards of Trustees, the estimated depletion date is 2033. The report also cited that the taxes being paid into Social Security beyond that year will only cover 77% of the scheduled benefits.
Millennials make up an even larger generation than the boomers, but it’s not clear how well their financial contributions will serve to support boomers and Generation X, and how large future generations will be.
Is a Social Security Check Socialism?
A Social Security check is not completely a socialist program. If it were a pure socialist program, the amount that every individual contributed to it would be the same and the amount of the benefits received (paid out) by each individual would be the same. This is not the case.
What Are the Weaknesses of Socialism?
Socialism's weaknesses include slow economic growth, inefficient allocation of resources, low competition, lack of innovation due to low competition, few opportunities for entrepreneurship, and a lack of motivation amongst employees.
What Programs in the U.S. Are Socialist?
Socialist programs and social programs have fine distinctions. Though some of the government programs in the U.S. can be seen as socialist, they are not truly socialist. There are, however, social programs in the U.S., such as Social Security, Medicare, Medicaid, and the Children's Health Insurance Program.
The Bottom Line
The U.S. got the idea for a social security system from 19th-century Germany. That very capitalist monarchy launched an old-age social insurance program in 1889 at the behest of Chancellor Otto von Bismarck, partly to stave off radical socialist ideas being floated at the time. The original social security was actually an anti-socialist maneuver by a conservative government.
Nevertheless, because the American government plays such a dominant role in the U.S. Social Security system—deciding how much and when employees and employers pay into the system, how much individuals receive in benefits when they get them, and preventing almost everyone from opting out—it only seems fair to say that Social Security is, in effect, a form of democratic socialism; however, it may also be considered a form of social insurance or a social safety net.
The program requires workers and their employers, along with self-employed individuals, to pay into the system throughout their working years. The government controls the money they contribute and decides when and how much they get back after—and if—they reach retirement age. Having such a successful and beloved socialist-like program at the heart of such a committed capitalistic society is perhaps the ultimate paradox. Or maybe it’s just good common sense.
WASHINGTON, Oct. 24, 2023 /PRNewswire/ -- Of the 1.1 million minority-owned employer businesses in the U.S., 99.9% are small businesses. But not all of these businesses are certified as diverse suppliers, despite being eligible. Getting certified as a diverse supplier offers small business owners the opportunity to expand market share, grow their companies, discover new partners, and create new revenue streams, according to SCORE, a resource partner of the U.S. Small Business Administration. To take advantage of these benefits, SCORE encourages diverse supplier certification for those that qualify.
What is a diverse supplier?
A diverse supplier is a business that is at least 51% owned and operated by an individual or group that is part of a traditionally underrepresented or underserved group. The federal government aims to award up to 23% of its prime contract dollars to certified small businesses. In some cases, it exceeds this allocation. For example, in 2019, it awarded up to $132.9 billion in federal contract dollars to small businesses, representing 26.5% of prime contract dollars.
"Supplier diversity is a strategic way of making your supply chain more inclusive," explains Towanda Livingston, a SCORE mentor and expert in DEI and supplier diversity. "Organizations diversify their purchasing and contracting activities by facilitating pathways for minorities, women and marginalized groups to not only gain access, but actually win contracts and opportunities."
How can small business owners get certified?
To qualify as a diverse supplier, in most cases, a small business must be in business for a minimum of two years. Any company that wants to do business with the federal government must register on the System Award Management (SAM) and keep its account active. A SCORE mentor can help small business owners to navigate the certification process, including how to get started and find potential opportunities.
"The first thing to do is look at who is buying your product or service today," said SCORE mentor Karen Williams. "Because if they're a larger business and have some social responsibility, they will have a supplier diversity program."
SCORE provides support and resources
Small business owners can gather more information through SCORE's supplier diversity modules on score.org. Available at no cost, the modules are designed to help established business owners develop an understanding of and rationale for becoming a certified diverse supplier.
"When I wanted to learn more about becoming certified as a women-owned business, SCORE offered a self-paced supplier diversity course, live webinars and access to a mentor," said SCORE client Caitlin Anderson, co-founder of Thinkly Solutions, a SWaM-certified (small, women-owned or minority-owned business) management consulting business in Virginia. "Through the online course, I gained the foundational knowledge such as the terminology, the basic requirements of the main certifications, and the different ways to get certified. My mentor was then able to help answer my questions and help me decide which one was right for me at this point in my business journey."
A SCORE mentor can provide personalized guidance and support throughout the process. These volunteer mentors come from a variety of backgrounds and areas of expertise, and they all share a common goal of helping entrepreneurs succeed. Find a SCORE mentor today at score.org/find-mentor.
About SCORE:
Since 1964, SCORE has helped more than 11 million entrepreneurs start, grow or successfully exit a business. SCORE's 10,000 volunteers provide free, expert mentoring, resources and education in all 50 U.S. states and territories. Visit SCORE at www.score.org.
Funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.
CONTACT:
SCORE
202-968-6428
media@score.org
Visit SCORE's media resources to be connected with expert small business interview sources and news updates.
SOURCE:
View original content to download multimedia:https://www.prnewswire.com/news-releases/how-small-businesses-can-benefit-from-diverse-supplier-certification-301965006.html
SOURCE SCORE
Astute investors tracking the initial public offerings (IPOs) of companies such as eyewear maker Warby Parker and green shoe manufacturer Allbirds might have noticed that these companies are registered as public benefit corporations (PBCs).
Until recently only private companies or subsidiaries adopted this corporate structure, and PBCs were beyond the reach of the typical individual investor.
Should you add one of these "feel-good" companies to your portfolio?
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Public Benefit Corporations (PBCs)
The PBC corporate structure signals that a business considers a "triple bottom line" – people, planet and profit – extending benefits to stakeholders like communities and employees.
Delaware, where a majority of publicly traded companies (and virtually all new startups over the past five years) are incorporated, adopted PBC regulation in 2013. At present, 36 states and the District of Columbia have passed laws allowing for PBC charters.
An amendment to the law in 2020 has made this option more feasible and attractive for a growing number of companies. For example, directors now have greater protection if a company is accused of failing to deliver on its public benefit goals, and opting in or out of a PBC is now a matter of obtaining a majority of shareholder votes, lowered from 90%.
Before 2020, there was just one publicly traded PBC: Laureate Education (LAUR). Since then, about a dozen publicly traded companies have incorporated as PBCs, and several private PBCs have come public via IPO.
Given strong investor interest in environmental, social, and governance (ESG) issues, more companies might consider the PBC business model to set themselves apart, and possibly to prime themselves for inclusion in ESG funds.
Public benefit corporations define the particular benefit purpose aside from shareholder interest. In the case of online education company Coursera (COUR), for example, this purpose is "to provide global access to flexible and affordable high-quality education that supports personal development, career advancement, and economic opportunity." A PBC company's directors are required to balance the stated purpose with financial interests of shareholders. However, this does not mean that financial concerns are secondary to a benefit purpose, nor does it mean that directors are legally liable for failure to meet the benefit purpose.
A PBC must report every other year on its efforts and progress to attain the stated public benefit. Though this reporting may be done through a third-party certification, it is not required and may simply be self-reporting.
Also note that the nonprofit B Lab has provided "B Corp" certification to more than 4,000 companies globally, including to some PBCs. These two monikers sound similar but are not the same.
PBCs Meet Shareholder Activism
In response to rising corporate and investor interest in ESG and sustainability, the U.S. Business Roundtable (BRT) issued a splashy reframing of the Purpose of a Corporation document in 2019, signed by 181 CEOs.
No longer centered only on creating shareholder value (referred to as "shareholder primacy"), the new purpose includes creating value for customers, employees, communities and suppliers, in a nod to the concept of "stakeholder capitalism."
Yet a 2020 study of BRT letter signatories found that these companies performed no better than non-signatories when it came to responding to the workplace and societal challenges posed by the COVID-19 pandemic. Frustrated by this apparent lack of accountability, some ESG investors have pressured signatories to the BRT letter to become public benefit companies by filing shareholder proposals.
So far, those proposals largely haven't stuck.
Investor advocacy nonprofit The Shareholder Commons and others filed at least 16 shareholder proposals asking companies to convert to PBCs. Of these, all but one received very low shareholder support and cannot be refiled next year; in fact, even some of the most progressive fund managers, such as Boston Trust Walden and Calvert, voted against PBC shareholder proposals.
Yelp (YELP) – which garnered almost 12% shareholder support and is the only vote that stands a chance of moving forward to the next proxy year – will be an interesting test case.
Pros and Cons of PBCs
There are some good reasons that investors interested in ESG should consider PBCs:
- In many cases, these corporations offer innovative business models that embed public benefit by design. For example, Broadway Financial (BYFC) is the largest Black-led minority depository institution in the U.S., which in turn can help provide much-needed capital to minority-owned businesses in urban communities.
- Company directors have more freedom to adopt a long-term vision for company growth and value creation.
- Many of these companies are consumer-facing, offering sustainable branding and origin stories at a time when consumers increasingly favor sustainable brands.
- For companies that are now private and going public, the PBC IPO may offer greater transparency on ESG goals and reporting.
- The PBC corporate structure has not deterred venture capital (VC) investors, indicating a level of comfort and trust in the PBC model. A 2020 study of 295 Delaware-registered PBCs that received private funding between 2013 and 2019 showed that VC funds invested $2.5 billion in PBCs, at a rate similar to conventional companies.
Just understand there are downsides to investing in PBCs as well.
- Existing publicly traded PBCs are still a new structure, and many companies remain skeptical of the logistics and legal fees required for conversion.
- PBCs might be less attractive as takeover targets, meaning that shareholders might be less likely to benefit from an acquisition.
- Just because a company is a PBC does not mean that it has adopted other best practices for corporate governance. In the case of Allbirds, the company's IPO includes dual-class board structure, granting directors 10 times the voting power as shareholders.
- PBCs are not required to be certified by third parties, and the value of ESG reporting and performance metrics are not regulated or standardized.
Bottom Line
PBCs are likely to remain a small but growing niche of investible companies. While this business model is an intriguing way of signaling that sustainability is part of corporate DNA, there are no guarantees that this structure will avoid greenwashing, or merely be used for marketing. Investors should care about this potential shortfall.
Accurate, certified, standardized ESG reporting and performance commitments may lead to better management and in many cases, improved financial performance. A 2020 Fidelity study found that from January to September 2020, companies with top ESG ratings outperformed those with poor ratings for every month other than April, with a cumulative difference in relative returns of 17 percent. A 2020 State Street study reported similar effects.
How do individual investors get access to this valuable ESG data? Aside from a few nonprofit organizations that assemble publicly available information, mom-and-pop investors have few ways to access or untangle it. For this reason, investors should welcome sustainability information provided in a PBC IPO, where ESG disclosure is so often lacking.
For existing and larger corporations however, this type of self-reported data is simply less valuable than what the big investment firms are analyzing, and investors should tread with caution.
The medical device sector must meet stringent regulatory requirements plus convince potential customers that they make reliable, safe products. Having a strong commitment to quality can help customers achieve both those aims and others.
Parts of the ISO 13485 process involve identifying and documenting processes. For example, company representatives must find all processes that have even a minor connection to manufacturing. Next, they must create written procedures to establish which elements could introduce risks to the product.
Those threats could range from contaminated equipment to poorly trained personnel. After bringing attention to the risks, company representatives must name and describe measures to mitigate the potential issues.
ISO 13485 does not spell out the specific measures for device manufacturers to take. However, the certification gets people in the mindset that quality happens at every stage of manufacturing and that ongoing efforts enable maintaining high standards.
Reducing the Likelihood of Longstanding Issues
Another component of ISO 13485 requires ongoing managerial reviews to determine whether previously implemented controls work as expected or if further tweaks would get better results. Unfortunately, some leaders see these evaluations as box-checking exercises and feel under excessive pressure to get them done.
However, gathering relevant data and creating processes to keep that information up-to-date and accessible can make it easier to carry out thorough, non-rushed reviews related to ISO 13485.Â
For example, looking at customer feedback, audit results, new regulatory requirements, and any details of corrective actions taken so far can help decision-makers verify whether quality controls related to ISO 13485 have the desired effects.
Additionally, these periodic reviews improve the chances of catching issues that could lead to faulty products or operational efficiencies. They encourage better visibility that limits the likelihood of an unaddressed issue causing long-term problems.
Increasing Marketplace Competitiveness
The most recent version of ISO 13485 requires that certified companies insist that any subcontractors conform to the standard, too. That means the commitment to quality extends beyond a particular organization. Many potential customers appreciate that, knowing that working with any new company poses challenges. ISO 13485 reduces many of them with its emphasis on quality.
Also, since ISO 13485 is an internationally recognized standard, it can help in cases where company leaders want to expand into other countries and boost their chances of success. Certification assists organizational leaders in conveying that they take quality seriously.
It’s vital to convince stakeholders of efforts to prioritize quality since medical devices directly affect people’s lives. Minimizing the chances of harm and increasing positive outcomes helps potential customers build trust in a company and decide it makes sense to work with or purchase from them.
Helping Products Stay on the Market Without Issues
Statistics indicate that approximately 4,500 medical devices and drugs get taken off the market owing to recalls. Just as managerial reviews of ISO 13485 processes can prevent persistent issues, a certified company is less likely to experience problems that lead to getting products pulled from shelves. In addition to the lost profits that such events cause, recalls can permanently damage the public’s reputation, making many people perceive a troubled brand as unsafe.
However, corrective and preventive actions get built into the ISO 13485 framework, helping company representatives identify and tackle problems faster than they otherwise might. It’s also advantageous that getting certified can help create and maintain a culture of personal responsibility within the organization.
Once an employee understands that a single missed step or ignored protocol could cause quality issues that affect a whole organization, they’ll likely become more conscious of their behaviors and choices made while working.
Plus, if a company does experience a recall, being ISO 13485-certified should make it easier to target where things went wrong and prevent future issues. Doing those things should bolster public trust and reassure people that a device manufacturer has its operations under control.
ISO 13485 Certifications Strengthens Medical Device Companies
The medical device sector is a high-pressure industry where people praise innovation as long as it doesn’t sacrifice user safety. Moreover, manufacturers must respond to demand spikes, as instances like the surge in ventilator needs during the COVID-19 pandemic showed.
Getting an ISO 13485 certification can help a company make positive, permanent quality and process improvements. Thus, representatives from certified companies often find that ISO 13485 contributes to organizational resilience. It’s not right for every organization, but the associated benefits make it well worth consideration.
FORKLIFT candidate | FORKLIFT study | FORKLIFT thinking | FORKLIFT test | FORKLIFT exam format | FORKLIFT study | FORKLIFT answers | FORKLIFT PDF Download | FORKLIFT testing | FORKLIFT test |
Killexams Exam Simulator
Killexams Questions and Answers
Killexams Exams List
Search Exams
