Importance of Court Case of Korematsu v. United States

Significance of Court Case of Korematsu v. US Korematsu v. US was a Supreme Court case that was settled on December 18, 1944, toward the finish of World War II. It included the legitimateness of Executive Order 9066, which requested numerous Japanese-Americans to be put in internment camps during the war. Quick Facts: Korematsu v. US Case Argued: Oct. 11-12, 1944Decision Issued: Dec. 18, 1944Petitioner: Fred Toyosaburo KorematsuRespondent: United StatesKey Question: Did the president and Congress go past their war controls by limiting the privileges of Americans of Japanese descent?Majority Decision: Black, Stone, Reed, Frankfurter, Douglas, RutledgeDissenting: Roberts, Murphy, JacksonRuling: The Supreme Court decided that the security of the United States was a higher priority than maintaining the privileges of a solitary racial gathering during a period of militaryâ emergency. Realities of Korematsu v. US In 1942, Franklin Roosevelt marked Executive Order 9066, permitting the U.S. military to proclaim portions of the U.S. as military zones and consequently avoid explicit gatherings of individuals from them. The pragmatic application was that numerous Japanese-Americans were constrained from their homes and put in internment camps during World War II. Straightforward Korematsu, a U.S.- conceived man of Japanese drop, purposely opposed the request to be moved andâ was captured and indicted. His case went to the Supreme Court, where it was concluded that rejection orders dependent on Executive Order 9066 were in truth Constitutional. Subsequently, his conviction was maintained. The Courts Decision The choice in the Korematsu v. US case was confounded and, many may contend, not without logical inconsistency. While the Court recognized that residents were being denied their protected rights, it additionally pronounced that the Constitution took into consideration such restrictions. Justice Hugo Black wrote in the choice that every lawful limitation which shorten the social equality of a solitary racial gathering are promptly suspect. He likewise composed that Pressing open need may once in a while legitimize the presence of such limitations. Fundamentally, the Court lion's share concluded that the security of the general populace of the US was a higher priority than maintaining the privileges of a solitary racial gathering, during this season of militaryâ emergency. Nonconformists in the Court, including Justice Robert Jackson, contended that Korematsu had carried out no wrongdoing, and along these lines there were no justification for limiting his social equality. Robert additionally cautioned that the greater part choice would have substantially more enduring and conceivably harming impacts than Roosevelts official request. The request would almost certainly be lifted after the war, yet the Courts choice would set up a point of reference for precluding rights from claiming residents if the current powers that be decide such activity to be of dire need.â Importance of Korematsu v. US The Korematsu choice was noteworthy on the grounds that it decided that the United States government reserved the privilege to reject and persuasively move individuals from assigned regions dependent on their race. The choice was 6-3 that the need to shield the United States from surveillance and other wartime acts was a higher priority than Korematsus singular rights. Despite the fact that Korematsus conviction was in the long run upset in 1983, the ​Korematsu administering concerning the production of avoidance orders has never been overturned.​​ Korematsus Critique of Guantanamoâ In 2004, at 84 years old, Frank Korematsu recorded an amicus curiae, or companion of the court, brief on the side of Guantanamo prisoners who were battling against being held as foe soldiers by the Bush Administration. He contended in his concise that the case was â€Å"reminiscent† of what had occurred previously, where the administration too immediately removed individual common freedoms for the sake of national security.

Business Economics Hons Essay Example | Topics and Well Written Essays - 500 words

Business Economics Hons - Essay Example Hence, I tried to enroll in a respectable school to do financial matters and ensure that I have accomplished my fantasies. This is the reason I decided to take a crack at a college to do my lone rangers in financial matters. I am at present doing my A levels in where I am working together Studies, Economics and Psychology. I accept these subjects will be a generally excellent forerunner for doing my lone rangers in financial matters and I accept that the information I have picked up in my A levels will be significant for me as I do my single men in financial aspects. I am an exceptionally keen individual in the scholarly level and I hope to get BBB reviews in my A levels. My affection for financial matters additionally grows from the information that the present world is straightforwardly reliant on business as business has become the farm and chasing ground of current world. I likewise like financial matters in light of the fact that as a scholastic order, it can prompt various scholarly trains for my future scholarly turn of events. I am a steady individual and this can be found in my accomplishment that was granted with a Duke of Edinburgh bronze honor. I am the sort of individual who can accomplish anything when they set their brains at something and I am additionally exceptionally vigorous and I hope to put these gifts and capacities in the unhitched males of financial matters. I have likewise worked in a cafã © and in an advancement organization before and this gave me a serious knowledge into how the business world functioned. I accept that I have a major task to carry out in the economy of my nation just as the world and I expect to utilize the information and abilities that I will get in ensuring that I improve people’s lives by teaching them about financial matters standards. The world economy is destroyed and in spite of the fact that this is an issue, I consider it to be an open door for market analysts to make changes in the economy and annihilate the enduring on the planet that is gotten by pointless neediness. I call it pointless neediness since the least fortunate places on the planet are those with the

12 Personal Finance Twitter Accounts You Should Follow Today - OppLoans

12 Personal Finance Twitter Accounts You Should Follow Today - OppLoans 12 Personal Finance Twitter Accounts to Follow Today! 12 Personal Finance Twitter Accounts to Follow Today!We know. You want to learn more about personal finance, but you just don’t know where to start! Never fear. In addition to all the great personal finance resources available at OppLoans.com, we also have a list of twelve awesome accounts that you can follow on Twitter.There is a wealth of smart, sound financial wisdom right at your fingertips. All you need to do is click.@DistilledDollarTwitter Bio: From earning a living to building wealth. A CPA fiancée distilling $$ topics down on our path to financial independence by age 35.What We Say: Chicago (and also forming sustainable personal finance habits) represent!@WiseBreadTwitter Bio: Personal Finance and Frugal Living Portal. Tweets by Ashley Jacobs (@CollegeCents)What We Say: Get tips and wisdom from a whole slew of amazing personal finance writers and experts. One of the best in the biz!@CentSaiTwitter Bio: CentSai is a group of  #Millennial  Finance experts teaching personal finance through stories.What We Say: We love personal finance. We love stories. We love Centsai. Check out our interview with Centsai Senior Advisor Beth Tallman!@CentSaiAdultingTwitter Bio: Be So Money, Your Finances Are Jealous.What We Say: Adulting is hard, ya’ll. But with these fine folks, you can adult better.@MoneyTiperoTwitter Bio: Personal finance tips including saving, budgeting, investing and dealing with debt. Share your own money tip! http://tiperosity.com/sign_up  What We Say: If you like ‘em short and sweet, then this is the account for you!@The_Budget_MomTwitter Bio: Accredited Financial Counselor ® Helping real women live on a real budget.What We Say: Wonderful advice here about how to save and how to live.@ThePennyHoarderTwitter Bio: The Penny Hoarder is one of the worlds largest personal finance websites with 10+ million monthly readers.What We Say: If you were going to read only one personal finance website, this might just be the one.@FinFitandFabTwitter Bio : I help millennials kick their finances into shape! Freelance writer VA for hire.What We Say: Great advice. Great writing. Great stuff!@TheBudgetnistaTwitter Bio: Americas favorite financial educator #1 bestselling author: The One Week Budget. HuffPost blogger. Seen on: TODAY/ MSNBC/ TIME/ NYTimes/ FORBES/ ReutersWhat We Say: A gateway to all of the spectacular advice that Tiff the Budgetnista has to offer.@MllnnlbudgetTwitter Bio: #PersonalFinance  Blogger | Dividend Investor | MBA | Tax Accountant | Caribbean Born | Millennial AdvocateWhat We Say: Sound advice to help millennials (an anyone!) get their finances under control.@StefanieOconnelTwitter Bio: #PersonalFinance  expert. Helping #millennials  master their  #money  so they can build lives and careers on THEIR terms.  http://stefanieoconnell.com  What We Say: Expert wisdom that is expertly given.@mnmlstfinanceTwitter Bio: #blogger  at Minimalist Finance | architecture grad | Im passionate about paying off $40k in debt and inspiring others to do the sameWhat We Say: This fantastic site combines personal finance insight with Amanda’s personal mission to become debt free.And of course, if you don’t follow us already, make sure you do that: You can find us at @OppLoans.Happy Tweeting!

The Pros and Cons of Technology Essay - 3669 Words

The question of whether modern technological development has been beneficial or detrimental to human beings is perhaps the most pressing question that faces our society. If technology is harmful, then we need to minimize or eliminate the danger. If technology is not the source of the problems and concerns that are frequently attributed to it, then we need to find another cause for the social and psychological pressures faced by our society, so we can address these problems. Ever since the advent of the Industrial Revolution, people have voiced complaints about the harmful effects of technology. Therefore, we need to examine what Martin Heidegger, a twentieth-century German philosopher, called The Question Concerning Technology. In his†¦show more content†¦Entire genres of popular music with revealing names, such as Industrial and Techno have also arisen in recent decades. For example, Industrial music frequently deals with existential anguish, alienation, and meaninglessness of life as important themes. Some Industrial bands, such as Nine Inch Nails, have even produced multi-platinum albums and won important popular music awards. These factors indicate that problem of technology pervades our society and culture, whether consciously or subconsciously. And yet, in order to consider the problems posed by technology, it is necessary to discover the nature of the problem. While examining arguments against modern technology, I have encountered two main strands of thought concerning its dangers. Perhaps one of the best critiques of the modern technological-industrial system can be found in FCs document Industrial Society and Its Future, more commonly known as the Unabomber Manifesto. Because this text has had such a wide-ranging impact on our society, I will examine it first. Although there are many discrepancies with the argument presented in the Manifesto, the concerns expressed within it are valid. For the sake of discussion, I will focus mainly on the issues presented in the Manifesto and the solution proposed therein, rather than on the argument itself. In brief, FCs argument is that the present technological-industrial systemShow MoreRelatedPros And Cons Of Technology1137 Words   |  5 Pages Technology in the past three decades has developed at such an increasingly rapid rate that the last decade’s generation is defined as â€Å"being born in the technological age†. People born in the 1990s are considered the last kids to have known a life without smartphones and computer technology creeping into every aspect of their lives. There are pros and cons to technology, with most of the cons being discovered ever increasingly as people become more and more intertwined with their own personal devicesRead MoreThe Pros And Cons Of Technology733 Words   |  3 PagesTechnology is a distraction â€Å"Among the worst offenders were students at Queen Mary University of London, where there were 54 instances of  cheating  Ã¢â‚¬â€œ two-thirds of which involved technology. At the University of Surrey, 19 students were caught in 2016, 12 of them with devices. Newcastle University, one the bigger institutions to provide data, reported 91 cases of cheating – 43% of which involved technology.† According to www.guardian.com Technology gets in the way of learning. The issue is thatRead MorePros And Cons Of Technology986 Words   |  4 PagesIs technology a curse or blessing? Technology has a dramatic effect on the way we gather and use information. It has impacted daily lives and changed the way people perceive and process information. 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Over the past few years technology has basically taken over our society. It isn’t just young people that use technology, it is all groups of people, that includes toddlers all the way up to elders. Technology is a major part of today’s society and makes many tasks a lot easier. One major issue with technology is that it’s abused and many people rely on it. Technology is â€Å"dumbing down† today’s society. Technology has not only been a benefitRead MorePros And Cons Of Technology874 Words   |  4 PagesModern humanity can hardly imagine life without technology. Technologies have become an integral part of people’s lives. Every day, people invent new devices or improve the existing ones. Humanity differs by their attitudes to new inventions. Some people believe that sophisticated gadgets are actually useful and necessary, while others concentrate on the negative impact on people and their lives. Similar technologies are specially created for performing the hardest and most monotonous work. EvenRead MorePros And Cons Of Technology1631 Words   |  7 Pagesof us wonder if technology is affecting society for the better, or for the worse. I believe there are major issues on the rise with today’s trending technologies. However, like most thing’s, there are both pro’s and con’s to the way technology affects our society. It has a way of giving us new exper iences, but in some situations technology can actually take away certain experiences. I’d like to explain my reasoning for those beliefs, and better explain that it’s not that technology is good or badRead MoreTechnology : The Pros And Cons Of Technology1668 Words   |  7 Pagespast 10 years technology has changed a drastic amount. Its now more common to have a smart phone then to have a flip phone. It’s also more common to text some rather then call them. Now there is a lot of benefits that can come from technology and I am a strong supported of using it, but its also important to use it the correct way. We all have to limit how much time we spend on technology and if you’re a parent its your reasonability to limit how much time your kids spend on technology. After spendingRead More The Pros and Cons of Technology Essay1525 Words   |  7 PagesThe Pros and Cons of Technology As far back as I can remember my family and I have taken advantage of technology. The types of technology have changed over the years, along with our usage and dependence on it. Technology is a fundamental part of our lifestyle, including both work and play. What is interesting is that we also have many friends who use very little technology in their day-to-day living. This drastic difference makes one wonder how necessary the technology really is, and whether orRead MoreThe Pros And Cons Of Technology Integration958 Words   |  4 PagesTechnology in K-12 Schools This article discusses the pros and cons of technology integration. There are many arguments and fair points on each end of the spectrum, but it all comes down to how we must progress with technology. Public schools in the United States have more than 5.8 million computers in the schools, and that equals to one computer per nine students, and while seems like a lot, it does not allow every student access, so teachers are less likely to use computers in their lessons (Wurster)

Enterprise Risk Management techniques within a business - Free Essay Example

Sample details Pages: 14 Words: 4192 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? Enterprise risk management (ERM) is a recent risk management technique where a portfolio of risks is managed in a holistic manner. ERM has inspired interests from various parties including corporate executives, regulators, and rating agencies. Under the ERM framework, corporations take on necessary risks to pursue their strategic objectives within their respective risk appetite. Don’t waste time! Our writers will create an original "Enterprise Risk Management techniques within a business" essay for you Create order The core of the ERM process is efficient risk integration. Inter-relations among risks and risk prioritization are highlighted in the risk integration process under ERM. Certain risk measures and aggregation methods are usually involved in its implementation. Effective risk reporting and communications in a well-designed organizational structure are also essential for the success of ERM. Being an evolving process, the ultimate goal of ERM is to move beyond the initial incentive of fulfilling compliance need to achieving real economic value. Note: * in the main text suggests possible cross-references to other entries in the encyclopedia. The same term which appears multiple times is only marked once. WHAT IS ERM? Definition Enterprise risk management (ERM) is a recent risk management technique practiced increasingly by large corporations in all industries throughout the world. It was listed as one of the twenty breakthrough ideas for 2004 in Harvard Business Review [1]. ERM reflects the change of mindset in risk management over the past decades. Business leaders realize that certain risks are inevitable in order to create value through operations and some risks are indeed precious opportunities if effectively exploited and managed. In pursuit of the above, a corporations risk management practice should be carried out in a holistic fashion, aligned with its strategic objectives. It flows from the recognition that a dollar spent on risk is a dollar cost to the firm regardless of whether this risk arises in the finance arena or in the context of a physical calamity such as a fire. ERM proposes that the firm address these risks in a unified manner. The prevailing definition of ERM adopted by most corporations is the one proposed by Committee of Sponsoring Organizations of the Treadway Commission (COSO) in their 2004 ERM framework [2]. It intended to establish key concepts, principles and techniques of ERM. In this framework, ERM is defined as a process, effected by an entitys board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. This definition highlights that ERM reaches to the highest level of the organizational structure and is directly related to the corporations business strategies. The concept of risk appetite is a crucial component of the definition. Risk appetite reflects the firms willingness and ability to take on risks in order to achieve the objective. Once it is establishe d, all subsequent risk management decisions will be made within the corporations risk appetite. Thus, the articulation of risk appetite greatly affects the robustness and success of an ERM process. Different themes of business objectives are applied to determine risk appetite. Among the most common ones are solvency concerns, ratings concerns, and earnings volatility concerns [3]. The themes directing the risk appetite process should be consistent with the corporations risk culture and overall strategies. Despite its wide acceptance, the COSO definition is not the only available definition. For example, Casualty Actuarial Society (CAS) offered an alternative definition in its 2003 overview of ERM. In CASs definition, ERM is the discipline by which an organization in any industry assesses, controls, exploits, finances, and monitors risks from all sources for the purpose of increasing the organizations short- and long-term value to its stakeholders. [4] There are indications that ERM definition is gradually becoming organization specific. Individual corporations may define ERM uniquely according to their own understanding and objectives. Ai (2006) suggested that creating a clear, firm-tailored definition is an important precursor to the firm implementing a successful ERM framework. In fact, a 2006 survey of US corporations identified that lack of an unambiguous understanding of ERM is the one obstacle preventing companies from putting ERM in place [5]. Current development of ERM As a rising management discipline, current development of ERM varies across industries and corporations. The insurance industry, financial institutions, and the energy industry are among the industry sectors where ERM has seen relatively advanced development in a broad range of corporations [6]. The enforcement of ERM in these industries was originally stimulated by regulatory requirements. Recently, more corporations in other industries, and even the public sector, are becoming aware of the potential value of ERM and risk managers are increasingly bringing it to top executives agendas. According to a 2006 survey of US corporations, over two thirds of the surveyed companies either have an ERM program in place or are seriously considering adopting one [5]. An earlier survey of Canadian companies obtained similar results. It found that over a third of the sample companies were practicing ERM in 2003 and an even larger portion of the sample companies were moving in that direction [7]. Different stages of ERM implementation have been identified. According to a 2005 survey conducted of Canadian and US organizations, ERM implementation can be broken down into three stages based on the level of development [8]. Stage one is ERM strategy development, where corporations define key concepts, make ERM policies and establish the risk management framework. The second stage is ERM strategy implementation. Corporations at this stage implement the established ERM framework in their overall strategies and operations. The third stage of ERM is monitoring and maintaining the system. At this stage, ERM sustainability is the main focus achieved by effective internal and/or external evaluations. Only a small number of corporations, mainly in insurance, financial and utility industries, are at this stage of ERM practice. It is worth noting that ERM is a continuous evolving process, by no means limited to the above identified three stages. As more in-depth understanding and techniques are developed, corporations will move upward to higher stages and more advanced stages are also likely to emerge. ERM IMPLEMENTATION Notwithstanding the attractiveness of ERM conceptually, corporations are often challenged to put it into effect. One of the main challenges in ERM implementation is to manage the totality of corporation risks as a portfolio rather than as individual silos as is traditionally done. Several specific aspects of ERM implementation together with present challenges are considered below. Determinants of ERM Although ERM is largely considered as the most advanced risk management concept and toolkit, it is carried out at different paces by corporations. Studies have examined corporate characteristics that appear to be determinants of ERM adoption. For example, Liebenberg and Hoyt (2003) [9] find that firms with greater financial leverage are more likely to appoint a Chief Risk Officer (CRO), to signal their adoption of ERM. In another study, factors including presence of CRO, board independence, Chief Executive Officer (CEO) and Chief Financial Officer (CFO) support for ERM, use of Big Four auditors, and entity size are found to be positively related to the stage of ERM adoption [6]. These factors reflect ERMs role in corporate governance. Launch and pursuit of the ERM process lead to better corporate governance, which is desired by both external and internal constituencies. Operationalization of ERM The core of the challenge lies in operationalizing ERM in practice. Integration of risks is not merely a procedure of stacking all risks together, but rather a procedure of fully recognizing the inter-relations among risks and prioritizing risks to create true economic value. Important components of this procedure include risk identification, risk measurement, risk aggregation, risk prioritization and risk communication. Risk identification The four major categories of risks considered under an ERM framework are hazard risk, financial risk, operational risk*, and strategic risk [4]. Hazard risk refers to physical risks whose financial consequences are traditionally mitigated by purchasing insurance policies. Examples of hazard risk include fire, theft, business interruption, liability claims, etc. Financial risk refers to those risks involving capital and financial market. Market risk (interest rate risk, commodity risk, foreign exchange risk) and credit risk (default risk) are among the most important financial risks. This type of risk is usually hedged by financial instruments, such as derivatives. Operational risk is a nascent risk category and has inspired increasing interest. Operational risk includes internal fraud, external fraud, employment practices and workplace safety, clients, products and business practices, damage to physical assets, business disruption and system failures, and execution, delivery and proc ess management [10]. The newly released Basel Capital Accord II [10] first drew attention to operational risk in the banking industry. The impact soon spreads to other industries and now operational risk is ranked as the most important risk domain by US corporation executives [5]. However, given the complex and dynamic nature of operational risk, there is no easy access to the solution. Its management requires sophisticated and innovative risk management techniques. Lastly, strategic risk is more directly related to the corporations overall strategies. It includes reputation risk, competition risk, regulatory risk, etc. The management of strategic risk does not fall automatically into standard categories of risk management techniques. Specific risks perceived by each corporation need to be identified and managed customarily. The identification of the above four categories of risks is not meant to suggest separate management of each category. Rather, under ERM, identification of individual risks should facilitate successive prioritization and aggregation of risks to best achieve business objectives within the corporations risk appetite. Moreover, not all risks likely to face the corporation fall into one of the above major categories. Any event that can potentially affect the corporations objectives is considered a risk under ERM. Therefore, proper objective identification is the prerequisite for risk identification. Business objectives can be described by certain key performance indicators (KPIs), usually financial measures such as return on equity (ROE), operating income, earnings per share (EPS) and others for specific industries, e.g. risk adjusted return on capital (RAROC) and risk based capital (RBC) for financial and insurance industries [4]. By means of these company performance measures, risks ar e recognized according to the strategic goals established for each company, which is the first step to implement a sound ERM process Risk aggregation and risk measures* A central step towards operationalizing ERM is risk integration. Holmer and Zenios (1995) [11] is among the earliest studies that shed light on value created by process integration/ holistic management. In their work, an approach that integrates different parts of the production process (designing, pricing, and manufacturing) was proposed to improve productivity of financial intermediaries. Although risk management was rarely involved in that work, the underlying rationale is essentially the same. One sensible way to unify and integrate different types of risks is to derive the total risk (loss) distribution. The process starts with individual risks, which, as random outcomes, are usually represented by certain distribution functions technically. An aggregated risk distribution for the entire corporation can be derived from these individual risk distributions. Some risk measure is then developed to reflect the risk level. The risk measure can be denoted in dollar terms, in the form of capital requirements. In essence, risk management and capital management are two sides of a coin under ERM as the aim here is to create optimal returns using available capital by bearing risks [12]. Aggregated risk distribution functions essentially contain two parts: the marginal distributions for individual risks and the inter-relations between the risks. Marginal distributions are found for each identified individual risk through parametric models, non-parametric models or stochastic simulations [13]. Parametric models fit data in certain pre-determined distribution functions. Nonparametric models rely on histogram or kernel density estimation of historical data. Stochastic simulations methods (Monte Carlo Markov Chain simulation) start by generating random numbers through repeated runs. Stochastic simulation methods have become more and more popular in both academia and practice. There are also multiple ways to capture the inter-relations among risks. A simple approach is through variance-covariance matrices. Correlations between different risks are either calculated based on historical data or conjectured by domain experts. Alternatively, structure simulation models can be employed to link possibly correlated risks to common factors [4]. For example, different types of market risks may be driven by the same macro-economic conditions. These macroeconomic conditions thus result in the interactions among market risks. Inter-relations among risks can be exploited to determine natural hedges and place early warnings on catastrophic events where different types of risks strike together, which may lead to real economic benefits created by ERM. At a slightly more sophisticated level, dependence structures can be modeled by using a copula. A copula is a flexible tool to capture the dependence structure among risks. Suppose we have two risks X and Y with distribution functions FX(x) and FY(y). Denote the joint distribution function by FX,Y(x,y). Then the copula is defined as (1) [14]. Thus, we can derive the joint distribution function from marginal distribution functions by using copula. Various types of copulas (for example, normal copula or student-t copula) can be employed together with different choice of marginal distributions to model dependency. Quantile-based measures are perhaps the most prevalent risk measures currently. This class of risk measures focus on the tail area of the distribution functions, i.e., those events occurring with low probabilities but are associated with large losses should they occur. These risk measures reflect an intention to protect shareholder value in time of default or insolvency. The well known Value-at-Risk (VaR)* measure is of this type. VaR is the maximum loss suffered at a given confidence level (e.g. 95%) over a certain period of time (e.g. 1 trading day). Mathematically, we define VaR at the ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± confidence level as the ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±-quantile of the loss distribution function F(X), or (2). Although VaR measures are extensively employed, especially in financial risk management, doubts have been raised on VARs ability to depict a complete risk picture as a valid risk measure [13]. One of the most important concerns is that VaR fails to satisfy the sub-additivity property desired by any coherent risk measure. A closely related alternative measure is proposed to make up for the possible shortcomings of VaR, namely, Expected Shortfall (or loosely, Tail-VaR). Expected Shortfall takes into account not only the probability of adverse events as VaR but also the average magnitude of these events. Mathematically,(3), where ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± is the confidence level. Further considerations lead to other classes of risk measures. For example, the so-called spectral risk measures [16] incorporate a weighting function to describe different degrees of risk aversions on quantiles. In this sense, Expected Shortfall is seen as imperfect since it assigns equal weight () to the entire (1-ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±) region (and a weight of zero outside the region), indicating risk neutrality rather than risk aversion in the region. Moreover, an important risk measure based on distorted distribution functions was developed by Wang (2000, 2002) [17] [18]. The distorted decumulative distribution functions S*(x) are produced by applying a function g (.) to the original loss decumulative distribution function S(x) (S(x)=1-F(x) (4)): S*(x) = g [S(x)] (5), where g is an increasing function with g(0)=0 and g(1)=1. Wang (2000, 2002) [17] [18] suggest specific choices of distortion function g(.): (6) and (7), where is the standard normal distribution function, Q is the stude nt-t distribution function, and is the market price of risk parameter. These are known as Wangs one factor and two factor transform. A coherent risk measure can then be developed by taking expectation against the distorted distribution function. Rather than the focus solely on the tails, as quantile-based risk measures do, sometimes risk measures are designed to account for other parts of the distribution functions. Measures based on standard deviations (variance) belong to this class. In constructing these measures, an on-going concern rather than a solvency concern is often the primary focus [4]. In practice, simplified approaches are sometimes adopted to obtain the aggregated risk measure rather than relying on the total loss distribution and develop the risk measure as described above. For example, one can derive the portfolio VaR as a weighted sum of VaR for each component risk which implies perfect correlation between risks. Or sometimes, multivariate normality is assumed for the individual risk components and a VaR measure is obtained accordingly. However, these simplified measures should be used with caution since they may lead to biased total risk estimation [14]. Risk prioritization To realize risk integration, ERM also advocates risk prioritization. Risk prioritization stems from the fact that risks are not equally important to corporations. Prioritization should reflect different aspects of the companys strategies and risk management philosophy, e.g., cost to handle that risk, contract restrictions on that risk, managements risk preference, etc. A two dimensional risk map is often used (See Figure 1) in ranking the risks. The vertical axis represents impact of the underlying risks (the severity of losses) and the horizontal axis represents likelihood of the underlying risks (the frequency of losses). Different alert levels and risk management strategies are placed on each quarter panel. The low likelihood, low impact area usually needs minimum alarm, the high likelihood, low impact area should be dealt with accordingly by the risk management team, the low likelihood, high impact area requires for high attention and the high likelihood, high impact area can be disastrous to the corporation and thus demands full alert and tight control [19]. According to the ranking suggested by the risk map, corporations may want to prioritize those risks with high impact, as they are the kind of risks that may bring down the entire corporation once incurred. Risk management activities should then be executed according to priority and characteristics of risks. (Figure 1 insert about here) Alternatively, risks can also be ranked and prioritized based on their respective impacts on KPIs [4]. As we explained above, KPIs describe corporations strategic targets. The ultimate aim of ERM is to assist corporations in achieving these strategic targets by managing risks in the most effective way. Thus, risks that have higher potential influence on KPIs (or other chosen measures of objectives) should be prioritized and treated with focus. Risk reporting and risk communications* Despite the extensive attention given to the technical aspects, ERM is not just about tons of numbers and stacks of risk reports. A key factor for success is effective risk communication from the board and executive management to operational units and across different business departments of corporations. One way to improve risk communication is through a well-designed risk reporting system [20]. The risk reporting system should both provide succinct summaries of critical risk information covering the broad range of corporate risks for board members and executives, and allow access to more detailed information for those responsible for specific risks at the operational level. Moreover, both qualitative and quantitative analysis should be incorporated into this single system. ERM softwares are developed for this purpose. For example, an ERM dashboard, an interface providing role-based information to key decision makers is recommended for risk reporting [20]. Risk registers are also us ed widely for risk reporting and management. Risk registers record relevant information including risks, risk assessments, impact on KPIs, risk management tools and responsible personnel, to keep track of the risk management activities and allow interactions among different parties [19]. There are other commercial ERM softwares in development for use of general or particular corporations. ERM AND COMPLIANCE* ERM at first arises from corporations continuous efforts for compliance with laws and regulations. To this end, ERM is seen more as an efficient internal control process. Within a corporation, it is often conducted with internal control function and supervised by internal auditors. The most significant regulatory forces responsible for the prosperity of ERM are the Sarbanes Oxley Act of 2002, Basel Capital Accord II and rating criteria set forth by Standard Poors. Sarbanes Oxley Act of 2002 In the US, the Sarbanes Oxley Act of 2002 [21] greatly raised compliance difficulty for corporations. Section 404 of the act rules the corporations internal control activities over financial reporting and disclosure to the public. External auditors are also involved through assessing and attesting corporations internal control effects. Corporations have invested great amount of time and money to comply with the act. In this process, they turn to ERM as a solution to adequate and efficient internal control, rather than for general risk management purposes. On a separate note, Sarbanes Oxley Act itself poses as a great operational risk (compliance risk) to most corporations. As far as this is concerned, ERM lends itself to an effectively toolkit for managing this type of risk in corporations overall risk portfolio. Basel Capital Accord II Basel Capital Accord II [10] has also likely contributed to the development of ERM. This new Basel Capital Accord describes clearly the determination of capital requirements for the banking industry from the regulatory point of view. Besides minimum capital requirements, it also highlights the importance of supervisory review process of management of major risks. For the first time, Basel II explicitly reflects regulatory interest in operational risk. Regulatory capital requirements and review process should stipulate ERM adoption by corporations, to attain unification of risk and capital management, and to fulfill compliance needs. Rating agency Compared to the previous two forces, rating agencies have a more direct influence on promoting ERM practice. Rating agencies have always been a major constituency for corporations. Standard Poors (SP) started to evaluate ERM practice and incorporate it in the rating process for insurers in 2005 [22] and refined the criteria in 2006 [23]. The rating criteria span important components of the ERM process. Risk management culture, risk control techniques, methodologies and principles employed by risk models and the ability to deal with emerging risks all contribute to insurers overall ERM assessment. SP also gives positive weight to the articulation of risk appetite (and resulting risk tolerance, risk limits, etc.), which further demonstrates the fundamental role of risk appetite in the ERM process. In 2006, SP extends its ERM evaluation to the financial industry by developing rating criteria specifically for financial institutions [24]. The ERM assessment framework is built up in three dimensions: infrastructure, policies, and methodology. The evaluation process focus on five aspects: risk governance, operational risk, market risk, credit risk, and funding and liquidity. Among those, risk governance includes risk culture, risk appetite, risk aggregation/quantification and risk disclosure. Highly rated financial institutions are those that use effective methodologies and procedures to control each important category of risks, and have a holistic view of the overall risk profile. SPs rating will undoubtedly encourage continuous adoption and elaboration of ERM in these industries. In the foreseeable future, it is very likely that rating agencies may start to establish rating criteria for general industries, which will provide even stronger incentive for all corporations to advance aggressively in the ERM process. ERM FUTURE VALUE CREATION (CONCLUSION) ERM practices may have been initially driven by compliance needs, however ERM development should continue to serve an internal control function for better corporate governance. Moreover, the forces upon which ERM thrives are related to the potential economic values generated by better managing risks under identified objectives. One common objective for the majority of corporations is to maximize firm value. ERM is the framework where corporations optimize the risk/return relationships for their businesses. This optimization is achieved through alignment of corporate strategic goals and risk appetite. At the operational level, the alignment guides virtually all activities conducted by the corporation. Specific risks are identified and measured. They are prioritized and integrated by recognizing the inter-relations and relative influences. Risk management strategies are developed for the portfolio of risks. The effects are assessed and communicated. In this way, ERM cuts waste of resou rces caused by inadequate communication and cooperation under silo-based risk management framework. ERM also increases the capacity and frees space for new opportunities to be explored. Other than these two primary sources of value, more effective risk management also creates benefits from higher credit ratings, lower distress costs, more favorable contract provisions, etc. Testing the added value of ERM itself is another presented challenge. Wang (2002) [18] proposes that value creation can be calculated as the increase in economic value of the portfolio after implementing ERM, where economic value is obtained by discounting the expected total profit/loss taken against the distorted distribution function (by two-factor Wangs transform). Zenios (2001) [25] demonstrates from an operations research perspective that effective integration of risks under ERM will create value by pushing out the risk/award frontier of the entire portfolio. More theoretical and empirical analysis is needed to demonstrate/test the added value from ERM. We conclude on a final note of the evolving nature of ERM. ERM is still at its early stage of development for the most part. Conceptual and practical frameworks are still being constructed through gathered efforts from regulators, industries and academia. More advanced methodologies, techniques and tools are emerging every day. Therefore, some of the aspects (e.g., what ERM really is, the real effect, how it can be best implemented, etc.) described are necessarily vague and debatable due to the lack of consensus regarding exactly what constitute effective ERM and lack of evidences regarding the empirical benefits of different implementation scenarios of ERM. It is the hope that most of the ambiguity will resolve itself as this process goes on and more concrete and analytical discussions can then be carried out.

Case Study Apple Inc. - 990 Words

This research portfolio is about Apple Inc., a multinational company that has many operating locations in the world, such as China, Taiwan, Japan, Ireland, Europe, Australia and so on. This paper will focus on Apple s background information, its global operations and lastly, its employees and suppliers that help with the success of its daily operations. Apple Background Info Apple Inc. operates in many different countries in the world. There are three major countries that Apple operates in, which are Ireland, China, and the United States. Apple is set to hire an additional 1000 workers for its Irish operations (Mizroch, 2016). Most countries Apple operates from are members of some type of trade organization. China is a member of the IMF (Imf.org, 2016), a member of the World Bank (Worldbank.org, 2016) and a member of WTO (Wto.org, 2016). Ireland is a member of the IMF (Imf.org, 2016), a member of the World Bank (Worldbank.org, 2016) and a member of the WTO (Wto.org, 2016). United States is a member of the IMF (Imf.org, 2016), a member of the World Bank (Worldbank.org, 2016) and a member of the WTO (Wto.org, 2016). In addition, Apple operates in countries that are economically or politically risky as long as theirs great potential for viable profits. These three major countries that Apple operates from, follow the guidelines of these world trade institut ions even though I also believe that they are certain trade conflicts that must arise between these countries andShow MoreRelatedCase Study : Apple Inc.1349 Words   |  6 Pages Case Analysis: APPLE INC.: IPODS AND ITUNES Donna Martinelli TEXAS CHRISTIAN UNIVERSITY September 3, 2014 Table of Contents Executive Summary..................................................................................................3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Defining the Challenge...............................................................................................3 Analyzing the case data....................Read MoreCase Study : Apple Inc. 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International Management

Question: Discuss about theInternational Management. Answer: Introduction: The uncomfortable sense of disharmony, confusion, discord or conflict arising from a change in the cultural environment, is known as cultural dissonance (Daenekindt and Roose 2014). The cultural changes may be sudden, unexplained and not clear as there are a lot of cultural dynamics involved. The individuals exposed to the multiple cultures often face a situation of conflict when they make a transition from one culture to a different culture. This phenomenon may take in the same culture, where there is the existence of a number of sub-cultures (Lee and Jeyaraj 2014). There may be different clashes like spiritual, physical, ethical, identity and others, which may lead to cultural dissonance. This reflective paper would discuss about my personal experiences of the cultural dissonance and how I overcome them. Discussion I travelled to India, one of the most famous country in Asia, last year. I had one month holiday and hence started to explore the world. I visited a southwestern region of India, known as Karnataka, which has some picturesque locales. My tourist guide took me to a remote village to enjoy the natural beauty. I was surprised by the cultural imbalance in the region. There are different caste systems in the village and there was no cordial relationships between the members of the communities (Desai and Dubey 2012). There were severe enmity between the people of two different castes. I witnessed widespread violence all around. My tourist guide, however, told me that it is a normal phenomenon, in this region. I personally felt a great degree of discomfort in the village. I was startled by the level of untouchability practiced in this modern age (Thorat and Joshi 2015). It is severely practiced here and though I had read it earlier, I was shocked to see the real picture of this social taboo. The lower caste people, often known as Scheduled Tribes or the Scheduled Castes or Dalits, were not allowed to enter public places (Rao 2015). They didnt find suitable education or employment opportunities. They were being deprieved from a lot of things. I found this against the humanity. I believed that we are human beings and hence should possess equal rights, but I found that merely being a human being is not sufficient in this village. The upper class people didnt wish to be touched by the lower caste people (Rao 2015). I felt such cruel practice is against humanity and I felt uneasy and wished to run away from the place. I seemed to have lost my cultural identity after witnessing such cultural indifferences. I perceived that culture is concerned with freedom, society obligation, harmony, mutual respect, but I was wrong (Eyerman and McCormick 2015). I was primarily thinking of the western cultural attributes which may not be applicable to all parts of the world. This was causing a cultural dissonance (Eyerman and McCormick 2015). I found out that there are a large number of child laborers in the village (Dumas 2013). Childhood is the time for education and subsequent development of values, beliefs as well as principles. I was again proved wrong after I visited this place. The children of the lower classes were denied access to schools and also their families were not eager to make their ward educated. They were happy to lease out their children and earn some money. I really felt uncomfortable after learning the mentality of the people. These feelings collided with my beliefs and hence caused cultural dissonance (Daenekindt and Roose 2014). I perceive the social boycott as a brutal behavior which I was not previously exposed to. I felt uneasy and started to imagine myself in the same situation. I felt numbness in my head thinking that what would have happened if I was born in this village. I would also have to go through the same kind of things. I believed that my positive mind, individualism, migration, cultural bereavement, social mobility, exposure to the western culture and the beliefs of equality led to the cultural dissonance that I faced in India (Guzder Santhanam-Martin and Rousseau 2014). I overcome the cultural dissonance by taking active measures. I started adjusting to the situation by accepting it as the inherent culture in this part of the world and I should not feel uncomfortable about it (Eyerman and McCormick 2015). I expected differences to come up in the next couple of days. I started to deal positively with the culture shock and accommodate myself in the new culture, at least for a few days. I also started communicating with the locals so that I can get a fairly good idea of the host culture. I also started to make observations of the native people who are accustomed to this culture. I resisted the feeling of losing my own culture and welcomed the new culture as an additional one. I learnt that each culture has some distinct characteristics which makes it unique. It separates it from other cultures. The different culture has a different way of life, habits, customs and opinions. It is good to embrace it rather than feeling uncomfortable. The exposure to dif ferent cultures, not only enhance my knowledge, but also makes me a better human being (Eyerman and McCormick 2015). I was a more mature and confident individual, after I came back. I learnt that I should respect each culture of the world and understand the true essence of it. I should get rid of the negative emotions while travelling to a different culture and instead possess a positive mind. Conclusion I feel that cultural dissonance is an important issue in this age of globalization. The cross border education, trade or travel has become a common phenomenon. In such circumstances, it is necessary to reduce the cultural dissonance, commonly faced by the individuals. I may travel to a foreign land for professional commitments and if I cannot overcome cultural dissonance, then I would have to suffer a lot. This assignment helped me to overcome the cultural dissonance and made me a confident individual. References Daenekindt, S. and Roose, H., 2014. Social mobility and cultural dissonance.Poetics,42, pp.82-97. Desai, S. and Dubey, A., 2012. Caste in 21st century India: competing narratives.Economic and political weekly,46(11), p.40. Dumas, C., 2013. Market imperfections and child labor.World development,42, pp.127-142. Eyerman, R. and McCormick, L., 2015.Myth, Meaning and Performance: Toward a New Cultural Sociology of the Arts. Routledge. Guzder, J., Santhanam-Martin, R. and Rousseau, C., 2014. Gender, Power and Ethnicity in Cultural Consultation. InCultural Consultation(pp. 163-182). Springer New York. Lee, J.J.Y. and Jeyaraj, S., 2014. Effects of self-construal differences on cognitive dissonance examined by priming the independent and interdependent self.SAGE Open,4(1), p.2158244014521434. Rao, A., 2015. Caste System (Dalit/Untouchability).The Encyclopedia of Political Thought. Thorat, A. and Joshi, O., 2015. The Continuing Practice of Untouchability in India: Patterns and Mitigating Influences.India Human Development Study Working Paper,3.

The Count Of Monte Cristo 2 Essay free essay sample

, Research Paper The Count of Monte Cristo The Count of Monte Cristo, written by Alexandre Dumas, tells the narrative of a adult male, Edmond Dantes, a crewman who goes through being betrayed by his enemies and thrown in to a dark prison cell to be aftering retaliation on his enemies. His behaviour and personality alterations after passing 14 old ages in gaol for a offense that he didn t commit. Edmond Dantes was thrown in gaol, after being framed by his enemies, accused of perpetrating lese majesty and being a bonapartist. The narrative takes topographic point during the Napoleonic Era while the usurper, Napoleon has escaped to his topographic point of expatriate, the Isle of Elba, located in the Mediterranean Sea. The narrative of Edmond Dantes starts out as him being a crewman, aboard the Pharaon ; he s shortly to go captain of the ship. Monsieur Morrel is the name of the proprietor of the Pharaon and a great friend of Dantes. We will write a custom essay sample on The Count Of Monte Cristo 2 Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He treats Edmond with great regard. There s besides a small particular lady in Dantes life, the beautiful and fantastic Mercedes. A dream occupation and a dream married woman, who could perchance desire more? His dream shortly becomes shattered by three of his enemies, Danglars, Fernand, and Caderousse. As these three people plot against Edmond, he is about to go married to the beautiful Mercedes. On his nuptials twenty-four hours, his betrothal banquet was interrupted when the constabulary came thrust aheading through the door and arrested Edmond Dantes. Dantes was accused of giving a missive to the supplanter while the Pharaon stopped on the Isle of Elba and returning a missive from the supplanter to the Bonapartist party in Paris. After his apprehension, Edmond was interrogated and questioned by the public prosecuting officer, Monsieur de Villefort. During the question Villefort promised Edmond freedom, but that was before Monsieur de Villefort read the missive from the supplanter addressed to Monsieur Noirtier, Villefort s father. Edmond Dantes was sent to prison. Edmond Dantes imprisonment made a immense impact on his life. He spent 14 old ages in the dark and quiet Chateau vitamin D If. During those 14 old ages he met a priest, Abbe Faria, which they met each other through a secret tunnel in which they both have created while in prison. An astonishing transmutation takes topographic point in Edmond Dantes as he learns about his enemies and a big concealed hoarded wealth that contains a big amount of money. Abbe Faria is a really smart adult male, while in prison he taught Dantes many utile cognition including the whereabouts of a big hoarded wealth located on the Isle of Monte Cristo. Abbe Faria died while still in prison. Edmond Dantes took advantage of this, because throwing dead people into the H2O is a Chateau vitamin D If tradition, Edmond placed himself inside the pouch in which Abbe was traveling to be placed and thrown into the H2O. Edmond Dantes was now a free adult male. After Escaping from the Chateau vitamin D If, Edmond Dantes went to the Isle of Monte Cristo and found the big hoarded wealth that Abbe told him approximately. Because of disbursement 14 old ages in prison, Edmond Dantes visual aspect and perso nality has changed greatly. In order to revenge himself he must do a camouflage. Since his visual aspect is changed, cipher can acknowledge him. But with the name Edmond Dantes, his enemies would recognize that he has escaped ; so he changed his name to The Count of Monte Cristo. With his camouflage it was clip to come in society and happen out what has happened to his enemies and friends after 14 old ages. Monsieur Morrel, Dantes old friend, has lost everything, including his ships, and is approximately to travel belly-up and into debt. But Dantes disguised as Sinbad the Sailor, with a immense income, comes to Morrels deliverance. Sinbad the Sailor in secret gives Morrel the sum of money in which he needs to acquire out of debt. Because Morrel showed Dantes kindness and regard earlier, Dantes returns this kindness with his gratitude and money. Because The Count of Monte Cristo is really rich, he becomes really popular and an of import member of society. He shortly learns where and what has become of his enemies. Danglars became a rich and celebrated banker that is married and has a immature girl. Fernand has became rich excessively, he changed his name to The Count de Morcerf. He besides married Mercedes and had a boy name Albert de Morcerf. Monte Cristo has brush Albert before ; he saved his life from brigands. Caderousse hasn t been every bit lucky as his friends. He became an hapless host with a ill married woman. Another adult male, which can besides be considered an enemy, is Monsieur de Villefort. Monsieur de Villefort is still the public prosecuting officer. As for his household, he lives merrily with his married woman and his girl Valentine. His male parent, Monsieur Noirtier is really sick and paralytic. As the narrative goes on, The Count of Monte Cristo makes many friends of his enemies but his enemies don t recognize what s go oning because the Count is in camouflage. The Count has many connexions excessively, which help him acquire retaliation on his enemies. For most of the instances, the Count punished most of his enemies that resolved to decease. Through many events, a friend of Monte Cristo murdered Caderousse. And Fernand was prosecuted for slaying a adult male that was the male parent of the adult female Monte Cristo loved. Because Fernand already lost his award, alternatively of being more humiliated by being executed, he committed self-destruction. And Monsieur de Villefort lost his whole household after they committed self-destruction because of the events that Monte Cristo caused. Bandits, friends of Monte Cristo captured Monsieur Danglars, and they robbed Danglars of his whole luck. But Danglars didn T dice ; he was set free with the staying 50 thousand francs that the y had left him. There is a moral to this narrative ; if you treat ill, you ll finally acquire treated ill. But if you treat people decently, you ll acquire treat decently excessively. An illustration is Monsieur Morrel, he treated Dantes with regard and he received esteem back from Dantes. But Caderousse, Fernand, Danglars and Villefort treated Dantes ill, and they were punished. Dainty people the manner you want to be treated.

How to write a business plan, FM World - Emphasis

How to write a business plan, FM World How to write a business plan, FM World Whether youre setting up a new business venture or want the go-ahead for a project, theres one essential document you need. Robert Ashton gives a step-by-step guide to writing a good business plan. Theres a memorable conversation in the famous Lewis Carroll novel Alice in Wonderland, where Alice asks the Cheshire cat for directions. Unfortunately, Alice doesnt know where she wants to go, stating that it doesnt matter where she gets to, as long as she gets somewhere. This leads the cat to respond that it doesnt matter which way she turns. If you dont have a crystal clear vision of where you want your business to go, youll be as confused as Alice when you hit a crossroads. Your business plan is your road-map. But in order to write it, you have to decide what you really want to achieve. This means youll have to spend time immersed in the strengths and weaknesses of your business, a process which, in itself, has numerous pay-offs. Studying and researching your company helps you to take a critical look at what you have to offer and who your competitors are. This enables you to better navigate the industry minefields and gives you a benchmark against which to measure success. Many people think of business plans as a necessary evil, written only to gain external funding. Instead, look at them as an essential planning tool, whatever your financial situation. Remember, if you dont plan where to go, youre inadvertently planning on going nowhere. Crafting your business plan Heres a seven step guide to writing a winning business plan. Work through each section and youll have an ordered, content-rich document that gets you to where you want to go. Step one Description of the business After the executive summary (see step seven), the first thing youll need is to describe your business. Get started by asking the following questions: What do I sell or offer? And why? Whom do I sell to? What is the history of the business? What is my vision for the future? What is different about the services I offer? What is the legal structure of the company? Think about your audience carefully before you write the description. Ask yourself what words and phrases they will understand and be careful not to include too much jargon. Step two Market research Think about your industry and what you think the future trends will be. Then analyse your competition. Determine what size of the market they hold and then clearly define where you fit into the mix. Step three Marketing and sales strategy Ask yourself why companies buy what you offer and how you plan to sell it. Think about how you are going to reach the organisations that need facilities management support and what pricing plans youll offer. Whether youre an in-house department, specialist contractor or a large multi-service company, therell be a variety of ways to reach prospects. Step four Management and personnel team Many facilities management companies claim that people are their best asset. Think carefully about your management team and outline the background, experience and qualifications of each individual. The people on your team will often make or break your success. Fully evaluate their credentials and look out for any weak skill sets that could be improved with training. Step five Operations Analyse the location of your business, in terms of advantages and disadvantages. Your own premises, production facilities and IT systems must be excellent. Make sure you address any weaknesses in your plan with recommendations for improvement. Step six Financial forecast This section requires you to translate the contents of your plan into numbers. Include cash flow statements, profit and loss forecasts and a sales forecast. Dont forget that if youre looking for funding: you need to spell out how much you need and how youll repay the loan. Step seven The executive summary Leave this until last, even though it goes right at the beginning. Once youve followed all the other steps youre in a position to write this stand alone document, which outlines the key points in your entire plan. Keep it to a maximum of two pages. And remember, some people will only read this section so make it shine. Tip: rather than trying to distil the full document down, follow your original document plan (see Style tips box). Just write less in each section this time (a couple of sentences or a paragraph, rather than several pages). Finally, the ink may be dry but your business and the facilities management industry is constantly changing. Your business plan is a dynamic document, so you need to update it regularly.

Financial Reporting For Users Essay Example | Topics and Well Written Essays - 2500 words

Financial Reporting For Users - Essay Example Burberry was founded in 1856 in the United Kingdom and since its inception they dedicated themselves to providing the clothing needs of the British citizens. The company is very success and during the 2006 fiscal year the company had revenues of 850.3 million pounds with a net profit margin of 12.96% (Burberry Annual Report, 2006). The enterprise has a solid business strategy with a trading operation with multiple strategic objectives and goals. The company core strengths are multiple product offerings, global reach, a solid management team and channel expertise in retail, wholesale and licensing (Burberry Annual Report, 2006). Their strategic plan for the near future is flexible and targets opportunities within the apparel and non-apparel industry. The leveraging the franchise means improving its products, marketing imagery and stores. The company has a competitive advantage in the United Kingdom luxury market which they will continue to exploit. Burberry plans to expand its overall product offerings of apparels while concentrating in its cash dog which is casual outerwear products. The company seeks to streamline its business processes and restructure its supply chain to better meet global requirements. The company seeks to strengthen its non-apparel business segment. The segment accounts for about a quarter of overall revenues and there is room to grow due to the fact that this segment is a growing market within the industry. The company is investing in R&D, marketing and its supply chain to increase sales of handbags, small leather goods and shoes (Burberry Annual Report, 2006). The company also expanded its non-apparel product line to include eyeglasses for the first time in the company’s history. Expanding the retail presence is a top priority for the company. The company wants to open new stores, but their main focus is to increase the overall sales

Hurricane Floyd Case Study Example | Topics and Well Written Essays - 1500 words

Hurricane Floyd - Case Study Example Even the with the intervention of alternative emergencies from neighboring states, there is very little improvement because the evacuation systems in situ create constraints. The evacuation needs per individual on the instance of such ruinous event, as Floyd, is overwhelming for this low personnel-to-resident magnitude relation. On the fateful day of cyclone Floyd, the routes were slim and congestions were huge. The personnel were overcome by the quantity of needs per individual when Floyd attacked. With reference to the size of the county, the response to disaster that happens at the furthest distance from the agency location might not be handled with success because of low workers range. The area of coverage per personnel is such that the reaction time remains low despite early preparations. This could be worsened by inadequate instrumentality and transport for handling this kind of emergencies. The recent rise within the instances of hurricanes, storms and tornadoes give possible indication of increase of the level greenhouse gases within the atmosphere. It is believed that increase of the quantity of global warming within the troposphere – lower atmosphere, will increase warming in high altitudes. Heat waves and droughts became extremely predictable whereas weather specialists and scientists still have confidence in noncurrent short prediction for the hurricanes, storms and tornadoes, (Herring, 2000). Emergency response agencies are ill equipped because the historical account of prevalence of the storms, hurricanes and tornadoes offers a lower chance of the events happening. Charlotte County is found on Florida’s East coast and has not experienced landfall of a major storm since cyclone Agnes in 1972, 32 years before Charley. However, recently, it was hit by two hurricanes, Dennis and Floyd, which confirms the fears over the result of worldwide

Investigation on Resources for Childhood Immunization Rates

Investigation on Resources for Childhood Immunization Rates Immunization: an Investigation on Resources for Childhood Immunization and Health Professional Immunization Rates Zhou Yun Richard Wu Website University of Pittsburgh. (2012). Childhood Immunization Refusal: The Return of Vaccine-Preventable Diseases.  Retrieved from  http://www.omicsonline.org/2157-7560/2157-7560-3-e115.pdf Journal Article Koharchik, L.S., Salman, K., Hardy, E., Mayle-Towns, K. (2012)  Influenza immunization status among nursing students. Journal of Infection Prevention, 13(3), 84-87. doi:10.1177/1757177412442433 Introduction Immunization against infectious disease has been one of human’s first defenses against pathogens for the past few decades. Measles, mumps, rubella. Vaccinations have saved thousands, if not millions of people from these diseases, and seen the eradication of others, like smallpox, during the 1960’s and 70’s. Yet with seemingly endless benefits to mankind, in the recent years people have questioned the legitimacy and whether the risks involved with vaccines truly outweigh the benefits. Discussions have risen whether to vaccinate children, whether leaving the natural immune system to fend for itself will lead to an inherently ‘stronger’ immune system, and whether our own health professionals choose to vaccinate themselves. I personally find this topic intriguing as I personally chose not to have a vaccine as a child. Raised in a ‘let nature take its course’ household, and having such beliefs like taking the pain, not the painkiller, I chose this topic as I wanted to investigate immunization, learn the true scientific statistics and see how the wider scientific community views what some may call the 21st century wonder [preventative] drug. Website Educational Value The editorial title provides brief expectations on what is to follow. Shimi goes into profuse detail into the subject, and cites highly regarded health organizations for statistics and information to educate her audience. As Shimi explores the consequences of opting against vaccinations, the reader is presented with statistics from three decades ago to the current date. This shows great range of information and informs the reader of many details of how health has changed over time. Each survey, statistic or health information across the US, UK and Canada is supported by respective references to relevant educational institutions or health organizations. The wide range of educational value and the compilation of highly regarded and referenced material gives an impression of a highly credible resource. As a publically available webpage about vaccines it was important to check on the credibility of the author and editorial itself, as corporation funding or bias may influence the arguments presented. Online-marketing and social media to advertise medication is becoming more prevalent in the 21st century (Liang Mackey, 2011). Readers looking online must take note of the arguments and consider the true educational value of material on the Internet before deciding credibility. Notably, Shimi studies both sides of the spectrum, with respective references, presenting a well-informed perspective on immunization. Thus, one would find her resource highly credible. Intent The editorial article was supported by a leading research University (The Center for Measuring University Performance, 2009). The article briefly introduced childhood immunization before delving into the mindset behind opting for or against vaccination, and history behind infectious diseases. Collective information was presented, from surveys completed by parents, to proportion of disease outbreak relative to proportion of children who remained unvaccinated. Though not conclusive, Shimi explored many facets of childhood immunization and gave the reader a broad perspective on what, how and why vaccination exists. Being relatively recent and citing an extensive spectrum of resources, one would find this online editorial to a credible resource. Internet users have migrated from passive information sources to actively seeking the information they require (Liang Mackey, 2011). Internet users must continually be mindful of online material, where their funding comes from, why their phrasing is more favored to one drug over the other, and whether the online material exists to educate readers or promote to readers (Liang Mackey, 2011). This criterion is relevant for investigating online resources, as it is vital to continually question the intentions of publically available material, and why anyone may access it so easily. The article in question is backed by the University of Pittsburgh and cites numerous other highly respected organization and statistical institutes, and thus one concludes it is a highly credible resource. Journal Article Quality Research from the article was clearly presented and aims were established early. Relevant findings were elaborated under a ‘Literature review’ section, giving readers a defined perspective on relevant research as well as gaps in the current knowledge. The authors developed an original procedure, which was approved by a university review board (Koharchik, Salman Hardy 2012), to investigate the subject. This assumed their ideas were supported by informed academics. The authors’ original research and findings were consistent with other peer-reviewed studies (Ali, Khakoo, Fisher Hobbs, 2007; Nichol, D’Heilly Ehlinger, 2008), giving the impression their arguments and methods were informed and highly credible. The journal article provided different facets of information for the reader to understand the research that occurred before the study itself. In contrast, other sources failed to grasp the topic with an omniscient perspective (Shepherd, 2011) or giving reference to previous or current research. As an editorial, the author’s choice of words and selected details portrayed a strong emotional argument. The reader feels they are being convinced to adopt the author’s perspective, as conflicting arguments are neither portrayed nor referenced. Although other sources may have varying purposes to reach out to the audience, students would not use these sources as their arguments seem much less informed, absent of strong academic support, and consequently of an overall lower quality. Authority Streams of references follow every argument or statistic included in the article. The authors had other works published in the same topic, showing they had expertise in the subject and had past experience researching immunization. However, the authors had only published two works including the article in question, within a few months of each other. This could indicate that their knowledge was still budding and possibly lacking in a well-rounded experienced judgment. The study was undertaken at Duquesne University, Pittsburgh. The Journal of Infection Prevention is also a leading authority on medical research and development. One should not be excessively impressed by famed academic journals as mistakes do occur (Harzing, 2002), but it does give an indication of the authors and their work to have their work published for the greater scientific community. The Journal of Infection Prevention is renown in its articles and contributing authors. Commonly referenced, the content published by its authors are backed by other experts and thus act as credible sources for research in the content area. Koharchik, Salman, Hardy Mayle-Towns references previous research in the area and presents original research consistent with similar studies. One should consider the article, its authors’ expertise and whether other experts support the study to determine credibility. Koharchik, Salman, Hardy Mayle-Towns fulfill all these aspects and as such one would find the article highly credible. Summary The website and journal article were generally credible sources to read or use for an academic paper. Both resources are presented neutrally and there is no emotional bias in the writing. Arguments are presented for and against the content. Statistics included in both resources are relevant and are cited accordingly, with both resources providing an extensive range of high-regarded references. The reader is thoroughly informed and there is no obvious bias due to financial sponsor or affiliation. The authors for both resources are clearly stated and contact details are left, and both resources are supported by respected academic organizations renown for its respective authority in the medical field. References University of Pittsburgh. (2012). Childhood Immunization Refusal: The Return of Vaccine-Preventable Diseases. Retrieved from  http://www.omicsonline.org/2157-7560/2157-7560-3-e115.pdf Koharchik, L.S., Salman, K., Hardy, E., Mayle-Towns, K. (2012). Influenza immunization status among nursing students. Journal of Infection Prevention, 13(3), 84-87. doi:10.1177/1757177412442433 Liang, B.A. Mackey, T.K. (2011). Prevalence and Global Health Implications of Social Media in Direct-to-Consumer Drug Advertising. Journal of Medical Internet Research, 13(3), doi:10.2196/jmir.1775 The Center for Measuring University Performance. (2009). The Top American Research Universities: 2009 Annual Report.  Retrieved from  http://mup.asu.edu/research2009.pdf Ali, S., Khakoo, R., Fisher, M. Hobbs, G.R. (2007). An assessment of influenza vaccinations among health profession students. Scandinavian Journal of Infectious Diseases 3: 822-825. Nichol, K.L., D’Heilly S. Ehlinger E.P. (2008). Influenza Vaccination among college and university students. Archives of Pediatrics and Adolescent Medicine 16(22):1113-18. Shepherd, T. (2011, May 31). Deadly parenting choices in the vaccination debate. The Punch. Retrieved from http://www.thepunch.com.au/articles/deadly-parenting-choices-in-the-vaccination-debate/ Harzing, A.W. (2002). Are our referencing errors undermining our scholarship and credibility: The case of expatriate failure rates. Journal of Organizational Behavior 23(1): 127-148.

The Problem of Lack of Exercise for Children Essay example -- Children

The Problem of Lack of Exercise for Children 10 years ago, many Parents didn't have to work at getting young children to be active. Most children were constantly in continual motion. But these days even young children are inactive and more dependent upon adults to provide them with different forms of exercise such as sport. Lack of exercise is a major reason for the growing rate of obesity among children. One cause of this is the new modern day technologies which have boomed in this generation and therefore have created ‘couch potato’ children. Examples of these ‘distractions’ are computer games and television. Watching TV for even as few as two to five hours per week is linked to being overweight and as a result of this, the percentage of overweight children had doubled in the last 30 years. Dr Aric Sigman, of the British Psychological Society explains that most of the unpleasant health affects recognized that are linked with TV viewing are related to duration of viewing. He quotes that â€Å"There's nothing to be lost by watching less TV but a great deal to be lost by continuing to watch as we do†. Another Cause of obesity is unhealthy junk food. The varieties of foods have also changed in the last 10 years. Nowadays, children are excessively eating more fatty foods such as chocolate or chips which therefore increase the figures of obesity in children every year. 2o percent of British children are overweight and 10 percent are obese. Benefits of exercise: Exercise can help strengthen children's bones now as well as later in life. Children who partake in weight-bearing, impact sports such as running, gymnastics a... ...PA's (The British United Provident Association is a global health and care organisation) assistant medical director Dr. Paula Franklin says: "With the growing problems of childhood and adult obesity in Britain it is vital that we inspire young people to exercise regularly and eat healthily. Research also suggests that regular exercise affects overall well-being and can even have a positive impact on academic grades." In conclusion, yes it is a problem that our children aren’t enough exercise due to all the health problems they could face in the future. Daily exercise has many positive factors which is why adults should encourage physical activities such as sport as much as possible, especially because of all the modern day unhealthy distractions that children face.

Of Mice And Men: Book vs Movie

As we all know, there’s one thing about books that appeal to every avid reader in the world; the visualization and imagination. This is something that movies can either enrich or abolish. For the book entitled ‘Of Mice And Men’, the movie acted as a detriment to the book. The differences between the movie and the book are insurmountable. To start thing off, the first thing that was dissimilar was when George and Lennie are shown sneaking into a train at night to escape from Weed. However, if one recalls on the book accurately, they will remember that no such seen in the book was described.Another flawless example is when a worker named Mike approached Slim and asked him whether or not he could switch jobs with someone else as he could not keep up with Lennie. Again, this was not mentioned in the book what-so-ever. The next part was an important part, but was cut from the movie for unknown reasons. The part is when Lennie is in the river and begins to hallucinate a bout his aunt Clara and the giant rabbit. In addition to that, and also near the ending of the book, when George shoots Lennie with the Luger pistol. In the film, the gun he was holding was a Colt Revolver, and was again changed for unspecified reasons.This brings me to how the ending of the book was changed: in the book, George remains on the ranch, whilst in the film, George is seen riding alone in yet another boxcar to his next destination in both the introduction and ending. This is indicative of George fleeing after killing Lennie and reminisces on past events during the ride. In spite of all this alterations or modifications, there are still an innumerable amount to be spoken of. Thus, vividly showing us that movies can indeed sometimes take away from the free-thinking, imagination that books exclusively hold.

Comparing O Briens The Things They Carried and Ninhs...

Comparing O Briens The Things They Carried and Ninhs The Sorrow of War Bao Ninhs The Sorrow of War is a contrapuntal reading to American literature on the Vietnam War. But rather than stand in stark contrast to Tim O Briens The Things They Carried, The Sorrow of War is strangely similar, yet different at the same time. From a post-colonialist standpoint, one must take in account both works to get an accurate image of the war. The Sorrow of War is an excellent counterpoint because it is truthful. Tim O Brien writes: . . . you can tell a true war story by its absolute and uncompromising allegiance to obscenity and evil. (O Brien, 42) Bao Ninh succeeds in this respect. And it was for this reason that the Vietnamese†¦show more content†¦Not only were American soldiers well muscled and athletes, (191) but some of them were black. Whites were not particularly strange, as Vietnam had been under French rule, but blacks must have been something of a frightening, unfamiliar novelty. This too is reflected in the text. When Kien and Hoa encounter an Americ an platoon in the jungle, the blacks in the platoon are the first thing Kien describes, after describing what was not a man, but a tracker dog as big as a calf. (189) And when the soldiers smoke rosa canina, one of the things they hallucinate is groups of headless black American soldiers right along with hallucinations about fantastic creatures and extinct animal species. With these counterpoints to the American views of Vietnamese soldiers, an American certainly gets a different picture of the war. Bao Ninhs portrayal of postwar Vietnam also fosters a more objective viewpoint of the war. After the war, the Americans took their twisted memories back home, to an unscathed country where nearly everyone had something to go back to. For North Vietnamese soldiers, home was where the horror had been, and in many ways still was. He is plain in his message: The recent years of war had brought enough suffering and pain to last them a thousand years. (75) Kiens slow, painful demise is brought on by the heavy sorrow of war as he is haunted by an eternal past. (88) During the war North Vietnamese soldiers were but insects or an ant who