Marketing Communications Assignment Example | Topics and Well Written Essays - 2250 words

Showcasing Communications - Assignment Example Audi AG is a German maker of vehicles, associated with structuring, building and circulating of the equivalent. Since 1966, the brand is significantly claimed by Volkswagen Group, who has re-propelled the brand through Audi F103 release. Bayerische Motoren Werke AG, acclaimed by the name of BMW, is a German cruiser and vehicle producing organization, which was established in 1916.Both the brands, Audi and BMW, are immensely fruitful around the world. They have steadfast shopper base and tremendous brand value. Both these organizations are notable for updated innovation and development. These are the brands that include in the upscale moderate size vehicle portion. By and by, with these two items, they are wildly contending in the car advertise in the USA. Audi A4’s turbo-charged four chamber motor produces colossal capacity to the vehicle. The front wheel drive models are furnished with a constantly factor transmission (CVT). While, the models with all wheel drive gets either an eight speed programmed transmission or a six speed manual. Drivers opined that with the exact and pleasantly weighted guiding framework and amazing brakes, this vehicle is supported by most. It has splendid inside, adjusted dealing with and furthermore scores high in efficiency (US News, 2014a). BMW 320i is outfitted with turbo-charged four chamber motor too. This vehicle rises to in the mileage got with Audi 4, which is 24-36 mpg. 320i has a roomy inside with more payload carriage space than Audi A4. 320i has noteworthy dealing with and quickening (US News, 2014).The vehicle is eco-friendly. It is through parity in activity that Audi A4 can rival BMW 320i. The yield of both the vehicles as far as torque and intensity of the motor has been practically comparable. Both the vehicles are viewed as extravagance vehicles and bought by customers as superficial point of interest items in the market. Through the scope of intensity inside every vehicle is unique, yet it is noticed that force guiding offices,

Maggie: a Girl on the Streets

Maggie: A Girl On the Streets The issues that were looked by Maggie, and numerous other ladies in the lower social-financial levels during the Gilded Age, are practically deplorable to envision. She confronted separation, connection issues, and grew up with a useless family that neglected to show fondness. Luckily for Maggie, she wasn’t like the individuals she lived around. As Stephen Crane put it, â€Å"None of the soil of Rum Alley appeared to be in her veins† (Maggie 16). This one of a kind element gained by Maggie enabled her to improve her opportunity, even by a thin chance.Maggie grew up with a family who might have been delegated the low-class, in the scums of New York City. This is the place Maggie normally hampers her odds on in the long run leaving her horrendous neighborhood, otherwise called Rum Alley. The name of the area fundamentally depicts the sort of neighborhood it truly is. It’s loaded up with numerous alcoholic families, with kids who donâ⠂¬â„¢t get the fondness that they merit from their older folks. This shockingly makes it hard for Maggie to discover help inside her neighborhood, which drives her to use sound judgment inside her neighborhood.Maggie was separated on chiefly for one explanation: for being a lady. During this timeframe, ladies were socially acknowledged inside the house, however not out of it. On the avenues was the place men were discovered whether they were working, or drinking at the nearby bar. Ladies right now were bothered proudly. For instance, when Pete comes to Maggie’s house he advises her, â€Å"I'm stuck on yer shape. It's outa sight. † (Maggie 19). Maggie didn’t need to wind up as a bastard filth living as a housewife when she got more seasoned. She needed to be someone. Separation of ladies and lower-class residents unreasonably kept Maggie away from the start.She had a probably nothing possibility. Maggie endured connection gives various occasions in the novel. She got reluctant to become a close acquaintence with anybody since every last bit of her past connections had left her. Maggie winds up falling for a youngster named Pete. Pete puts on a show of being a pleasant refined man, however behind his attractive features is simply one more kid searching for a decent time. He keeps this escaped Maggie until after he lures her into engaging in sexual relations, at that point leaves her. Maggie’s sibling, Jimmie, forsakes her after Maggie â€Å"brings disfavor on the family† in the wake of engaging in sexual relations with Pete. Maggie’s mother, Mary, surrenders her after Maggie flees from home.Mary faults Maggie on her unethical behavior as opposed to thinking of her as own liquor issue. As expressed previously, Rum Alley was busy with a few liquor instigated occupants that partook in lower-class exercises, for example, road battling. Maggie’s family wasn’t any special case. Both Maggie’s guardians were outrageous heavy drinkers. Mary was damaging as they get. Thought about the manifestation of the fallen angel, Mary is sufficiently dishonest to censure her little girl for unethical behavior. Maggie’s father, Mr. Johnson, is just alluded to his last name in the book. He isn’t in the novel for long until he dies.What is seen of Mr. Johnson is a mercilessly brutal dad who abides at the bars each night to get away from the â€Å"living hell† at home. Jimmie is Maggie’s sibling. Regardless of the maltreatment he gets at home, he battles in the city. Jimmie is a rash warrior that won't down. For example,†Ã¢â‚¬â„¢Naw,’ reacted Jimmie with a valiant thunder, ‘dese micks can't make me run,’† Jimmie says in one of the primary lines in the book (Maggie 1). In spite of the fact that Jimmie and Maggie appear to some degree get along in the start of the novel, Jimmie winds up despising Maggie and reprimanding her for what occurred wit h Pete.Jimmie is tricky in his thinking since he also has allured and surrendered ladies before. Maggie experienced childhood in a spot with no expectation; a spot where many are conceived and never leave. Maggie had a dream to leave Rum Alley. This vision in the end appeared to be beyond her control, and she chose to take her life as a result of it. Maggie conquered numerous deterrents throughout her life including segregation, connection issues, and confronted a damaging and broken family as long as she can remember. Maggie is an extraordinary case of a visionary, or one who contemplates the future with creative mind and knowledge. We could all utilization a little Maggie’s vision in us.

Tragedy of Romeo and Juliet

Romeo and juliet article : who plays a disaster Romeo and Juliet: Who is Responsible for the Tragedy? Does Fate assume a job? Who is mindful? This inquiry is constantly posed of any contention, and for the most part nobody needs to concede that it was their flaw. It at that point must be resolved what the contention was, who is dependable, and to what degree. Shakespeare’s, Romeo and Juliet, depends on a contention. In Romeo and Juliet the contention transforms into a catastrophe. Since we comprehend what the contention was, which is a disaster, the following stage is to figure out what a catastrophe is?A disaster is a contention that winds up with something extremely pitiful occurring. In Romeo and Juliet, the disaster, is that both of these sweethearts execute themselves, to join the other in death. â€Å"For never was an account of more trouble Than this of Juliet and her Romeo† (5,3,309-310). The subsequent stage in the critical thinking process is to survey who is to be faulted for the catastrophe. To do this we should initially decide the various kinds of jobs played in a contention. There are 5 principle jobs; there is cause, an instigator, retaliator, passivist, and moderator.The first is the reason, which can be someone or something, that begins everything, and some of the time individuals don’t even understand that they are having this influence. In Romeo and Juliet, one of the causes is the old fight between the families. Tybalt says â€Å"What, drawn and discuss harmony? I abhor the word, as I despise heck, all Montagues and thee. † (1. 1. 61-62) The second is the instigator, who is normally mean, and something that they do or say, is typically the reason for strife. What this individual does or says is intended to incite someone.Tybalt says to Romeo â€Å"Romeo, the adoration I bear thee can manage the cost of No preferred term over this: thou craftsmanship a reprobate. †(3. 1. 53,54). These words are intended to incite Romeo to battle. The third job, is that of the retaliator, who reacts to the provocative idea of the instigator. Mercutio says to Tybalt â€Å"Consort? What, dost thou make us minstrels? Furthermore, thou make minstrels of us, hope to hear only disunities. Here’s my fiddlestick, here’s that will make you dance†(3. 1. 40-43) in counter to a verbal hit made by Tybalt. The fourth is the passivist, who does nothing to obstruct or help in the conflict.Usually somebody who hasn’t concluded who is correct and hasn’t picked a side. The fifth is the mediator, who is attempting to forestall or prevent the contention from occurring. Benvolio is attempting to forestall a battle when he says â€Å"I implore thee, great Mercutio, let’s resign: The day is hot, the Capels are abroad, An in the event that we meet we will not get away from a fight, For now, these hot days, is the distraught blood blending. † Now that we have decided the jobs pla yed in a contention, it makes the following stage, of figuring out who is mindful, and to what degree simpler. Shakespeare composed this catastrophe with a great deal of multifaceted nature to it.I know this in light of the fact that every one of the individuals included assume more than one job all through the play. First the Ancient Grudge, is a reason for battling between the families. It has assumed a significant job in the advancement of scorn in a portion of the individuals, for example, Tybalt has gotten a contempt for the Montagues, from his Uncle Old Capulet. This Ancient Grudge has caused two fights past to the one we see toward the beginning of the play. Sovereign says â€Å"Three common fights, reared of a breezy word, By thee, old Capulet, and Montague, Have thrice upset the calm of our avenues. †(1. 1. 1-83) By this discourse we learn of the idea of the antiquated resentment. I accept that the antiquated resentment is to be accused for a considerable amount of t he catastrophe, seeing as none of the battling would have occurred if there was no resentment, and Romeo would have been permitted to wed Juliet, without the mystery. Second Tybalt is to be accused for the vast majority of the disaster, since he began the principal battle in the city. He additionally began the battle on the sea shore. He murdered Mercutio, which made Romeo fight back and slaughter him. All through the play Tybalt is consistently the instigator, he is continually searching for a fight.He says himself that he detests harmony â€Å"What, drawn and discuss harmony? I loathe the word, as I detest heck, all Montagues, and thee. †(1. 1. 61,62) Romeo assumed a significant job in the disaster, yet ought not be accused for any of the catastrophe. He assumed the job of a Moderator, more often, dislike when he was on the sea shore and Tybalt moved him to battle he says â€Å"Tybalt, the explanation that I need to cherish thee Doth much reason the applying fierceness to such a welcome. Scalawag am I none; Therefore goodbye, I see thou knowest me not. †(3. 1. 5-58) He additionally assumes the job of the retaliator when Tybalt executes Mercutio. Romeo follows Tybalt to vindicate Mercutio’s demise. Romeo says â€Å"for Mercutio’s soul is nevertheless a little path over our heads, remaining for thine to stay with him: Either thou or I, or both must go with him. †(3. 1. 117-120) so in this sense Romeo’s just flaw was that he murdered Tybalt, however Tybalt had attempted to execute him, and had slaughtered Mercutio, so Romeo ought not be accused. Mercutio’s is in any case, a next to no bit to fault, for his own demise, which made Romeo execute Tybalt, and afterward get Banished for that crime.Mercutio wasn’t going searching for a battle, But he wasn’t looking not to battle either. When Tybalt, comes and needs to battle, so Mercutio reacts by provoking him to a battle too. Mercutio says, â€Å"Hereâ €™s my fiddlestick, here’s that will make you move. †(3. 1. 41,42) We additionally discover that he is extremely glad. â€Å"Men’s eyes were made to look, and let them look; I won't move for no man’s delight, I. †(3. 1. 47,48) From these entries, from the book, I have concluded that Mercutio assumed the job of the retaliator.Therefore his flaw is just in that of Tybalt’s, so he should just be somewhat accused. Benvolio’s Role in this contention was only as a passivist/arbitrator. I arrived at this resolution when he makes statements like â€Å"I ask thee, great Mercutio, let’s resign: The day is hot, the Capels are abroad, And on the off chance that we meet we will not get away from a brawl† And â€Å"We talk here in the open frequent of men: Either pull back unto some private spot, or Reason briskly of your complaints, Or else leave; here everyone's eyes look on us. †(3. 1. 43-46) By these addresses he is cont inually attempting to forestall or delay the fight.In this case Benvolio isn't to be faulted by any stretch of the imagination, yet rather ought to be recognized for his endeavors for harmony. Monk Lawerence is to be accused likewise, for he had extraordinary idea’s of harmony after he wedded Juliet to Romeo. He approved the marriage of these two individuals, in view of his thoughts, and he didn’t make the best choice, which is tell the guardians, and make them see that Romeo and Juliet were extremely infatuated. What's more, to let the guardians choose what might be ideal. He destroyed that, and afterward he wrecked some more, when he caused Juliet to hoodwink her folks, by faking her death.He keeps on spoiling to secure his unique mix-up of wedding Romeo and Juliet. Juliet’s Parents additionally contributed by driving her to wed Paris, and this constrained her to counterfeit her demise, to escape her marriage, and to get to Romeo. They were ignorant of her pas t marriage, so it isn't generally their flaw. In the wake of deciding this, there is still some disarray over the issue of certain individuals, so we need to view another factor, which may make things a little more clear. That factor is destiny. Before figuring out what job destiny played we should initially decide the importance of fate.Fate originates from the Ancient Greek Mythologies, when there were three female goddesses, who were accepted to turn a string that was your life, and they would shake it, to stir up your life. It was likewise accepted that the Fates were responsible for when you kicked the bucket and when you dieed, they cut the string. To make that progressively understood, Fate, is when something occurs or will occur, and you have no power over it. It reveals to us directly in the preface that Romeo and Juliet’s love is destined â€Å"A pair of star-crossed sweethearts end their life. I don’t truly have faith in destiny, however in this anecdotal c atastrophe, destiny was a great decision to clarify a portion of the things that occurred. Taking everything into account this energizing deplorable sentiment, has used an unpredictable web, in the duty regarding the catastrophe, so nobody can be considered altogether capable, and nobody is left without a section in disaster. The way that Shakespeare makes an individual play more than one of the essential jobs, all through the contention, is a staggering method to start intrigue, since individuals are confounded by an abrupt difference in disposition or character. This procedure leaves the crowd, attempting to see, so they become charmed.

Top Opinion Essay Samples 3rd Grade Tips!

Top Opinion Essay Samples 3rd Grade Tips! Choosing Good Opinion Essay Samples 3rd Grade Also, on our blog, you can get a great deal of different samples for various disciplines. Moreover, it's our sincere desire to enhance your expertise and sharpen writing skills. Our crew of well-trained and gifted writers are going to assist you with any situation. Our sound wisdom and the exceptional writing skills of our specialists give perfect guidance to aid you with your studies. Our customer support will gladly tell you whether there are any special offers at the present time, and make sure you are getting the very best service our company may deliver. You should have your reasons, and our principal concern is that you wind up getting a great grade. At times, getting a person's help might seem awkward because translating your outlook on particular issues might not be accurately reflected and interpreted once written. Business plan statement of the issue. In conclusion, at the present moment school is a significant stage of my life. Education is a significant medium of acquiring essential knowledge and techniques. So, it is a necessary means of eradicating the unemployment problem. Our education is actually worth investment. Opinion Essay Samples 3rd Grade Secrets That No One Else Knows About It may look like an opinion essay is tough to nail because it's slightly different from your typical academic paper. After you have organized all your facts in your outline, all you need to do is join them together with bridging language. Last, be sure that the topic you decide on can be supported by some factual evidence. Naturally, there isn't any definite response to the question I used as a title. Before starting to compose your essay, you have to gather information to back up your opinion. You can rely on the very best essay help online. The essay help on the internet can be ordered and received even via your cellular device. Anytime you must compose a timed essay, you should start out with a frame dependent on the parts below. You also need to go through the essay templates to learn more on the subject of essay structure when your outline is completed. At the start of each paragraph there ought to be a topic sentence. You would like an outline first. An opinion essay outline appears much enjoy a conventional essay outline. How do you earn thesis plural. As soon as you finish the very first draft of your essay, it's wise to re-visit the thesis statement in your very first paragraph. Your thesis sentence should provide your particular assertion and convey a very clear viewpoint. A great conclusion reaffirms the argument and produces a lasting impression on the reader by offering a captivating overview of the chief points. It can summarize the main points of the essay in a few sentences. You've got to talk about BOTH of them and also provide your opinion. Choose one which you get a strong opinion about. In that way you can find out more about your topic. It is going to also be a lot simpler to write about a topic you're passionate about. When you're selecting your topic, don't forget that you have to have an opinion. Also, remember two or three pretty normal strategies on selecting a topic for an opinion essay. Life After Opinion Essay Samples 3rd Grade You may take my online IELTS Writing Practice Test anywhere on earth and find a score, corrections, and feedback in only two days. Students will learn more about the rehearsal process used to ready the ensemble for performance. No student would like to jeopardize their grade. Write about your favourite sport.

The Purpose of Risk Management - Free Essay Example

Sample details Pages: 10 Words: 3002 Downloads: 4 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? Risk Management Introduction: The considered facility is one of those managed by the Selwyn Foundation. Kerridge Rest Home is located at the Selwyn Village Retirement Complex, 43 Target St., Point Chevalier, Auckland. Kerridge is a 61 bed capacity rest home with a good view of the areaà ¢Ã¢â€š ¬Ã¢â€ž ¢s beaches. Don’t waste time! Our writers will create an original "The Purpose of Risk Management" essay for you Create order Just recently it has opened its doors to hospital level care residents in addition to the rest home residents that they have had over the years. Purpose of Risk Management: In a healthcare facility, there are a number of risks that both the staff and the residents are exposed to daily. It will also be a measure to identify the present hazards and the possible hazards present. In general, risks are part of daily the activities and no one can get away, risk management is does not aim in eradicating the risks but rather minimize these risks and the effects of it, thus, preventing greater unfavourable events and situations. In an organization risk management is important so to avoid conflicts between staff and residents as well as conflicts with the family or significant others. In entirety, the purpose of risk management in healthcare is to enhance patient care and safety and promote security for everybody in the facility at the same time abiding with the legal requirements of the government. Benefits of Risk Management: When there is effective risk management at the facility, there will be a sense of security among the residents and the staff and a level of safety is achieved. Like for example at the facilities under the Selwyn foundation there is a good and visible fire alarm system. Smoke detectors are installed around the facilities, evacuation information in event of fire are posted in the bulletin board of every resident rooms as well as in corridors and lounges. Respective exits are also properly labelled and fire extinguishers are kept in an accessible spots. When all these are visible and information are properly disseminated then a sense of security is felt by the staff and residents knowing that in event of fire they will be properly guided on what to do. Risk Management will also help in the identification of hazards that may be avoided or given attention to before any accident may happen. To site an example, in the facility there are railings along the corridors as well as in toilets, this will help residents in keeping their balance and therefore prevent possible falls. Another example will be that of installing fire detectors and alarm system, this gadget will help detect fire before it will escalate and sends the alarm for everyone to evacuate and the fire department to be informed before it will be too late. Another benefit of having an effective risk management is meeting up with regulatory compliance and having accreditation from these regulatory institutions. The accreditations given to the facility is one indication that the facility is a safe place for the elderly to dwell in and that Kerridge is maintaining the standards of care as well as equipped with a competent and knowledgeable staff able render efficient and quality care to the elderly. Risk management components and its relations to overall risk management role: Activities and Internal Environment At Kerridge Rest Home, residents are allowed to have outdoor gardening activities, although this type of activity may be good for the residents in order for them to breathe in fresh air this may also pose as an accidental hazard for other residents using a walker. Given that activity is outdoors, the garden does not have railings around the area so when residents get out of balance, they may be subjected to a greater degree of injury. The facility also has a diverse community of staff and residents. The care staff is composed of Indian, Fijian, Filipino, Samoan among others and residents are European, Kiwi, Dutch therefore there would be the risk for miscommunication. The residents may sometimes have the difficulty in understanding the care givers depending on the accent or way of talking of care givers and nurses and vice versa. Setting Objectives During the morning shifts at Kerridge, which starts from 7am to 3pm, the care givers are expected to shower/wash and dress their residents and have them ready for scheduled activities and get them ready for lunch with some rest in between. The staff starts the shift with a hand over to know any changes in the activities of the residents such as hospital visits, having tea or lunch outside with the family or a physiotherapy schedule. Then they allot about 30 minutes for every resident to do the cares so that by lunchtime, residents are well dressed and ready for their meal. Another objective at Kerridge is to prevent the residents from falling during the working shift. This is prevented by having restraints put on the residents and routinely checking on the residents to maintain the level of safety in the facility. Event Identification Identified Risks at Kerridge Rest Home are grouped into categories: Health risks includes infection, the risks for residents injury related to fall, the risk for bed sores for hospital level care residents, the risk of skin rashes due to incontinent pads. Another category of risks is that of infrastructure which includes, fire and lightning, slips or fall due to slippery flooring, risk for dehydration due to centralized heating system. Belonging to the Staff Risks, we have risk for understaff in cases when they are on sick leave, the risk for miscommunication considering that the care giving team are composed of different nationalities. IT category would include the risk to privacy related to hacking making private information about residents available to the hacker, the risk of data being deleted due to system breakdown. The record for the employees working hours may also not be accurate when the biometric system is not working. Risk Assessment As stated above, a month or so ago Kerridge Rest home has welcomes its doors to hospital level care residents and so this has given rise to the probability of 50% for the existing rest home residents to feel neglected by the care givers. In every rest home, especially with hospital level care residents there is a high risk with a probability of 80% of the care givers to have back injury considering the degree of physical involvement they have in the care of their residents just like lifting the residents. In most cases, hospital level care residents are physically incapable to stand on their own making it a need for care givers to make use of a mechanical lifting device or the hoist. When employees have a back injury and would not be fit to do the residents care, this would mean that they should file for a sick leave thus this would result to insufficient number of staff for a shift. The Selwyn management would then have to search for n available healthcare assistant to fill in the shift from other bureaus, requiring more time and money for the management. This would at the same time have an impact on the care rendered to the residents for a permanent employee is more knowledgeable about the residents than those working for the bureau. At kerridge, the residents are mostly in their 80s and 90s with a few over 100 years old so they are more susceptible to fall, with a probability of 80-90%. When such incidents happen this would mean more job for the nurses because they would have to fill out forms and incident reports in order make this incident made known to the management. At Kerridge rest home or any rest home for that matter, residents have a 50-70% probability of feeling lonely considering that they are away from their family and even their homes and also might feel a sense of helplessness because of their mobility limitations and frail health. Response Plan As a response to the feelings of loneliness of the new residents, the management made it a point that they be given the same routine of care as that of their previous home. In this manner, the residents may not feel alienated. They were also encouraged to join the activities of the other rest home residents and family members are encouraged to visit the residents. Pertaining to the risk of the residents feeling neglected, the management increased the number of staff. In this way there is enough number of staff to care for the residents and the ratio of care giver to staff is maintained therefore care givers still have ample to do their cares efficiently and maintaining the standards of care. Mechanical lifts (hoists) were also made use in the facility in caring for hospital level care residents in order to lessen the physical strain on the care givers when rendering care as well as the use of the sliding sheets. Control Activities Since there is a high risk for care givers to have back injury with the nature of their job like positioning the resident in bed, transferring and lifting the resident from and to the bed or wheelchair, the facility has made use of equipment or materials that would help in reducing the risk of back injury. The use of sliding sheet makes it easier for the caregiver to move the patient in bed thus lessening the physical strain on the care giver. The benefit of using the hoist does the same, less strain on the caregiver. As of the risk of fall for rest home residents, this is controlled through the use of walker at all times, as well as the installation of hand rails throughout the corridors and toilets. The use of restraints also prevents the residents from falling from their wheelchairs or chairs. Bed rails are also put up the whole night to prevent falls at night. The risk for miscommunication among staff and residents can also be reduced by setting a rule for everyone to spe ak English at all times. The accents may differ but at least when we use the same language in the entire facility then residents and staff may reach a certain level of understanding especially when communication is the issue. Another way to lessen miscommunication is with the use of the memo board, in here the residents may have their preferences written Monitoring At Kerridge the management and staff have a monthly meeting in order for everyone to have a view of how things are doing at the Rest Home. The residents also have a regular check-up schedule done by a doctor, in this way, their overall health may be monitored. Like for example, doctors will assess if the residents are still responsive to their maintenance medication, if it is not the case, then they can prescribe another type of medication with continuous monitoring. This may also help the management and the care givers to monitor the progress of the residentsà ¢Ã¢â€š ¬Ã¢â€ž ¢ health, whether there health maintenance, deterioration or progress, During scheduled staff meeting, everyone is given the opportunity to air out their concerns regarding the facility, the staff as well as the residents or even the nature of their job. This is a way to monitor how the care givers are coping up with the demands of their work. In order to render efficient and quality care, designated sta ff also make an inventory of the available supplies in the facility, this way they have an updated idea of what important things are needed like pads, skin cream, milk, sugar, juice, etc. The items are necessary and needed in the facility and the staff make it sure that there if enough of it for the residents to use. Information and Communication When there was the plan to bring in Hospital level care residents into Kerridge Rest home, the management made the information known to the staff through staff meeting, during such time, the employees were given an overview of the changes that would take place once the new residents would arrive. They were also given the time to air out their concerns so that the management can address it. After the right information has been disseminated to the staff, the management then prepared a memo or letter that was distributed to every resident. The letter consisted of information regarding the event that would happen, the time when new residents will be coming in, as well as the number of residents joining the facility. Group Work Assessment: Business risk Buying an existing pharmacy and renaming it might be both a risk and a benefit for the business. It might be true that buying a pre-existing pharmacy may be beneficial for the business, the reason behind this might be that exist ing clients already know the location of the pharmacy and they may continue to get their prescriptions from the same place but regardless if the business has been renamed. But on the other hand renaming it might be a risk, pre-existing customers might continue to patronize the pharmacy even with a new name if they have had good experiences with the previous management or they might not want to continue buying from the pharmacy with its new name having the notion that they might not be given the same treatment or experience with the previous management. Open 24 hours may be risk that there might not be any sales during late hours of the day considering that most of the people are already in their homes and would not be out late. Another thing to consider is the risk for robbery, when it is late at night there are a few if not no one around the area thus making it possible for a robbery to happen thus, putting the business at risk as well as the lives of the employees. Spending $50,000 for full re-image for a more international feel is another risk. Giving the business this kind of feel may welcome tourists, which is one of the prospect groups of customer but where international customers are comfortable on the other hand this might be the same reason preventing the city apartment tenants and commuters to visit the pharmacy thinking that the pharmacy is selling only imported goods. Insurance risk Since most of the products being sold in the pharmacy are mostly related to health then the business should have a liability insurance, this would give protection to the business should any employee or products cause or is alleged to have cause bodily injury or property damage to a third party. A Workersà ¢Ã¢â€š ¬Ã¢â€ž ¢ Compensation Insurance (ACC) covers the expenses of the employees should they be injured at work. This will also provide wage replacement and medical benefits to the injured employee. This type of insurance also protects the employer if sued by the injured employee should they claim that you did not provide a safe working place. Fire Insurance is the policy that covers all or part of the losses that was the result of fire or lightning. As a security for the establishment, there should be proper fire exit and extinguisher available. Since the pharmacy is at high risk for robbery, burglary or theft then they should have a crime insurance which would cover all the losses from these incidents. For the pharmacyà ¢Ã¢â€š ¬Ã¢â€ž ¢s security then it would be beneficial for the establishment to install Closed-circuit television (CCTV). Since a pharmacy business deals with medications so it is must that we also put into consideration human errors such as dispensing the wrong medication or mistakenly labelling the medication, there might also be instances that customers might ask for any side effects of a certain drug and the staff may not be expected to know all the possible side effects. This policy protects the ph armacy from lawsuits resulting to human error. Since the business is owned by 3 shareholders, the Business Life Insurance will protect the business should there be any death among the shareholders. The policy will provide the other partners to with the needed fund in order to buy the deceasedà ¢Ã¢â€š ¬Ã¢â€ž ¢s share of the business, preventing them from taking out loans or selling the share of the deceased to unacceptable partner. Compliance risk There are a set of regulations that should be put into consideration in order to have the necessary approval from the designated council in order to put up a business. In this case, a pharmacy business is what is being considered. Since the business is for directed to tourist and city dwellers clientele, there is the must that all the products and items that they have in the shop should comply with the standards set by Medsafe, the New Zealand Medicines and Medical Devices Safety Authority, in order to ensure that their product s are reasonable safe. The building structure should also comply with the Building Act (2004) which is administered by Department of Building and Housing (DBH), if the business is in a multiple level or storey building then the building should be durable enough, with its building materials not a fire hazard and with proper fire exit. The business must also comply with the health and safety in employment act of 1992, providing the employees are healthy and safe working environment. This applies to every employee of the pharmacy, permanent or temporary, casual, part-time or full-time. How they arrange or display their products would also be of consideration, there should be enough pathway in events for fire. A good fire alarm system should also be considered. Fire exits should be visible and accessible as well. Another issue that is to be considered in the business is the wage or salary for the employees. Thought the business has started with high expenses put into renovation , they should comply with the minimum wage act of New Zealand. Employees must be given the due wage that they deserve, starting the wage at minimum rate for an adult which is $14.25 per hour Bibliography: Dennis H. Tootelian, Albert I. Wertheimer, Andrey Mikhailitchenko. Essentials of Pharmacy Management. Pharmaceutical Press, 2012. Iverson, David. Strategic Risk Management. A Practical Guide to Portfolio Risk Management. John Wiley Sons Singapore Pte. Ltd., 2013.

Video Games And Its Effects On Human Life - 2473 Words

This year, in 2014, video game will turn 44 years old. The industry that started with a 1D computer space game has now turned into a multi-million dollar business. Over the years, video games have played a huge role and have undeniably become an integral part of our life and culture. But as the gaps of reality and gaming experience dwindle, this raises a question of whether video games, like films and music, could really be used as a valuable medium for educational purposes or is it really just the digital menace which potentially turns players into ferocious zombies. While the debate gets intensified, it has already been scientifically approved that video games do impose several psychological effects on human. Game consoles are basically the most powerful mass-produced computer in the world. As we now enter the period of computer and rapid technological advancement, the development of video game industry, in similar fashion, is swiftly enlarged and totally transformed. Unfortunately , the majority of top selling video games and children’s favorite games usually contain violence as it consumes up to 32 percent of all the game genres. Coincidently, greater technological sophistication and realism found in today s video games are associated with increasingly violent themes. â€Å"Grand Theft Auto†, widely known as â€Å"GTA†, the game which allows the player to take on the role of a criminal who can roam freely around a big city, is a great indicator of that continuous trend inShow MoreRelatedVideo Game Violence And Its Effects On Gamers1205 Words   |  5 PagesVideo Game Violence and its effects on Gamers In recent years there has been a significant increase of shooting incidents, specifically in America. When there is a shooting event the media is quick to question if the suspect had a history of playing violent video games. There is already the initial connection between video game violence and aggression; but is this connection scientifically correct? This topic interests me because of the increase in school shootings and violence. I have personallyRead MoreViolent Video Games Cause Violent Crime1123 Words   |  5 Pagesdo violent video games lead to violent crime? Most people would think that the answer is a simple yes or no answer, but it’s not. This type of correlation is not all black and white; there is a lot of misconception and misunderstanding about it. In this paper, I will be discussing the history of violent video games. I will include scientific studies done on violent video games. I will include various crime cases involving video games. I will discuss the effects of violent video games. Lastly, I willRead MoreEssay on Violent Video Games: Dangerous Entertainment1153 Words   |  5 PagesViolent Video Games: Dangerous Entertainment Since the beginning of organized society, entertainment has always been an aspect closely tied with human nature. From the times of ancient empires, such as the Romans and Greeks, humans have used entertainment as an outlet to escape the harsh reality of everyday life. Although in those times, entertainment was considered duels to the death with animals and other humans opposed to the censored reality shows and formulaic movies we have today. HoweverRead MoreThe Effects Of Female Body Function On Video Games844 Words   |  4 Pagesexplained how did female body function in video games work. Male and female are not fairly equal at all because â€Å"through which women and girls look to determine their own worth and men and boys may use to form expectations of females† represents female characters’ own worth have to depend on male expectations which is inequality due to sexual differences. Video games created male and female characters with different body image so pla yers can start to judge the game just by looking at fake characters bodyRead MoreGaming Effect . Violence In Gaming Can Spark Interest In1544 Words   |  7 PagesGaming Effect Violence in gaming can spark interest in humans minds today. Lately around the world, there has been an increase in violence, and one reason seems to be the result of playing video games. Many children, teenagers, and even grown adults are stuck indoors staring at a screen for hours; this lifestyle can become unhealthy. Video games embed violent inclinations and mental pictures into players heads, which takes a toll on their physical activity. Terrifying images can be depictedRead MoreAdolescent Aggression Based on Violent Videogames1645 Words   |  7 PagesVideogames Violent video games played by millions of people every day results in animated characters having hearts ripped out, heads decapitated, and blood squirting across the screen as their mutilated bodies are erased from the screen. 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Though these games are extremely entertaining and can get kids to settle downRead MoreVideo Games And Its Effect On Society980 Words   |  4 PagesAs a growing medium, video games are often associated with various negative connotations that have obfuscated its positive contributions made to society. As a result, the general public is unaware of how video games have shaped modern-day, some even consider it a meaningless teenager pastime, but this is distant from reality. Video games are important to society at large because they do not serve for entertainment purposes only, they are a major force in the economy, scientific research, and militaryRead MoreVideo Game Effects On Children1229 Words   |  5 PagesVideo Game Effects on Children The effects of video games on children has been widely debated on multiple occasions. Most homes contain at least one video game system. There are plenty of companies involved in the rapidly growing gaming industry. These companies ensure a wide variety of types and genres of video games exist in the world today, and most people, including adults, will have very little difficulty identifying precisely which game is their favourite. The fact of the matterRead MoreVideo Games : A Form Of Entertainment1319 Words   |  6 PagesVideo games have been known as a form of entertainment since its introduction in the 1980’s. With an ever growing market driven by millions of people, video games have become one of the largest industries in the world. However as the video game industry has evolved, so has the content of the video games. What started out with family games like Super Mario and Donkey Kong that involved maneuvering over obstacles, evolved into violent games such as Call of Duty, and Grand Theft Auto which required

Research on Programming

Question: Write a research report about the given topic, "Research on Programming"? Answer: Executive Summary This report is mainly concerned with the programming languages that are used for making the viruses, worms, Trojan Horse etc as well as for making the security of the internet. Now days majority of the users uses internet and are much aware of the security. The different programming languages help in securing the internet. A. Report Layout Chapter 1: Introduction 1.1 Outline of the thesis In this technology drive world, the usage of modern technology through different programming languages helps not only in the advancement of internet security but also helps in covering up the loopholes in securing the internet. Internet security doesnt limit itself in securing the internet browsers only but also extends its security towards the operating system as well as other software in the computer system (Gold, 2013). This is because; other than the external drives, internet is another major way through which the viruses, worms, Trojan horse, malwares and spywares can enter the system and damage the data and information within the system. There are several steps that are adopted to fight against these viruses and worms. The data are encrypted using the programming languages that are used for securing the internet and the system. This research will be dealing about the programming languages that are used for securing the internet, the requirement of securing the internet and the methods of reducing the ill effects of the viruses, worms etc. to the system thereby making it safe for all the users. 1.2 Problem Statement With the increase in hacking and entry of the worms and viruses, now days there are several antiviruses available in the market that are made based on different programming languages. The consumers get confused sometimes in choosing among the antivirus that will be suiting best for the system and the user. In this report, the researcher will be discussing about different internet security procedures available in the market based on the different programming languages such as Java, C, C++, Perl etc. The problem regarding the selection of the best internet security and the causes of the internet security will also be discussed. 1.3 Research Questions What according to your opinion there is a requirement of internet security? What is the available programming languages used for coding the antivirus programs? What are the reasons according to you compels you to use security system for your internet? 1.4 Previewing the structure of the research paper 1st chapter: Introduction: This section will be focused regarding the topic of internet security briefly along with the programming languages that is essential for securing the internet. In addition to this, the problem statement on this issue is also discussed along with the research questions. 2nd chapter: Literature Review: There are different ways of attacking the internet and finding loopholes for attacking the computer and internet system. So, for securing the internet and the computer system, there are several programming languages that are used for securing the system as well as the internet. So, this section will be discussing about the different theories and programming languages that are in use for securing the internet as well as the computer. The pros and cons of the different programming languages used for securing the internet and system will also be discussed vividly. 3rd chapter: Research Methodology: This chapter of the research work will be concerned with the methods of data collection, research approaches, research design as well as research philosophy. This helps the researcher in analyzing the research topic in the most methodical manner for the better understanding of the readers. 4th chapter: Results and Findings: This section of the research work will be concerned with the results and findings that the researcher has received from the data collected for this research work. These research findings help the researcher in in-depth understanding of the topic. 5th chapter: Discussion and Analysis: This section of the research work will be analyzing the findings and results of the data collected by the researcher for this research work. This facilitated the researcher in understanding and gaining a thorough knowledge on the topic. 6th chapter: Conclusion: In this tech savvy world, with the growing importance of the internet, security of the internet is also increasing in a rapid way. There are various securities available in the market that is made of several programming languages for securing the system and the computer. The researcher will be summing up the different research results related to this topic. Chapter 2 Literature Review 2.1 Introduction Gold (2013) commented that internet now days have become an inseparable part in everyones life. The usage of internet has facilitated the users in coming in contact with each other very easily and made the world small in dimension. Ziegeldorf et al. (2013) also had a view regarding this topic is that in this modern era of technology and internet usage, the security of the internet is essential for every user for protecting their systems. This section of the research work will be dealing with the concepts of internet security and internet safety, different types of internet attacks and the ways of securing the internet. Along with this, the need and requirement of internet security and the pros and cons of different programming languages that are used for securing the internet are also discussed vividly. 2.2 Internet Safety and Internet Security Kim and Chung (2013) commented that internet security and internet safety are the closely related terms but there lies a hairline difference between the two terms and understanding these terms help the researcher in better understanding of the research topic. Internet security is the application of the programming languages in securing the internet from the hackers and 3rd party unauthorized users. With the advancement of the technology and programming languages, there are several languages available in the market that is used for securing the internet. On the other hand, Pawlik (2014) had a view that internet safety is the protection of the internet from the outside threats and risks. Both internet security and internet safety is essential for preventing redundancy of data, protection of internet and maintenance of safety. 2.3 Different types of internet attacks With the increase in internet usage and usage of modern technology, the attacks on the internet have also increased to a considerable extent. There are different types of internet attacks that are discussed below- Virus- According to Nie (2013) a virus is itself a program that gets activated in the system by attaching themselves to the files and executable objects in the system. Viruses reach the system through cracked software, email attachments, internet and CDs. The file virus attacks the executable programs through .com and .exe extensions. The script viruses are written using different script languages such as JavaScript, BAT, VBS, PHP etc. and they infect Linux and Windows command and service files along with HTML if it allow the scripts to execute. Worms- Kim and Chung (2013) commented that worms are also the programs that imitate themselves from one system to another system without the actual use of the host file. It is generally a 99-line bootstrap program that is jotted down in C language along with reloadable object file in Sun-3 and VAX flavors. Worms generally exist within the Excel and Word files and will discharge a document that has worm macro in the document. The worm generally uses a trap door in the SMTP mail service that uses a bug in the debugging codes for executing a command interpreter across a mail connection. Trojan Horse- Pawlik (2014) had a view that Trojan Horses are the malware programs that are generally found in .com and .exe executable files. Trojan horses are generally termed as security breaking program that infects the Operating System of Windows that are most popularly used. Generally, these programming languages enter the system, through various sites, attached files and extension files. Spyware and Adware- According to Nie (2013) Spyware and Adware are also the programming languages that also the common attacks through internet. It initially tracks downs the findings of the users search of the internet and on the basis of that the users are provided with the services. It is a modification of the HTML package that enters the computer through the web browsers, browser theme, enhancements and games. Gold (2013) also commented on the fact that the adwares are also the programming languages that are displayed with the advertisement of the web browser of the user. 2.4 Ways of securing the internet There are several ways of securing the internet from the attacks of the viruses, worms, adware, malwares and Trojan Horses. These are discussed as follows- Encryption of data- According to Ziegeldorf et al. (2013) encryption of data is the conversation of electronic data into cipher text form that cannot be understood by the unauthorized parties and can be easily understood by the intended sender and receiver. The data are encrypted to maintain the integrity of data, authenticating the data as well as to prevent the redundancy of data. The modern algorithms of encryption are used for securing the IT systems and maintain the confidentiality in the communications. Generally Java and C programming languages are used for powerful encryption of data. Usage of firewalls- Firewalls are also an effective method of securing the internet from the hacking and unauthorized users. Pawlik (2014) commented on the fact that the programming languages that are used for the firewalls are C++, Java and Python that helps in making the firewalls strong enough to prevent 3rd party interruption. Firewalls pass the message in the most selective way by screening out the messages that are prone to attacks. Usage of secured Email- According to Kim and Chung (2013) the usage of secured email system is another efficient way of securing the internet from the hackers and unauthorized trespassers and users. The virus, Trojan Horse etc all attaches themselves in the extension files of the emails and while the users download it, these infected programs enter into the computer system thereby damaging the system extensively. To prevent this, the users need to stay alert regarding these emails and should not download or open these files. The automatic downloading modes need to be disabled for preventing these attacks. Secured way of web browsing- Nie (2013) had a view that the users have a tendency of browsing the internet and entering the restricted sites. This is a way for attacking the IT system and breaking the security of the system. In order to prevent this, the users need to take the web browsing in a most serious way. The tools need to be used for deactivating the IP addresses trackers that reduces the spread of worms and viruses in the IT systems. 2.5 Need of Internet Security It is essential to secure the internet with the increasing attacks of the internet. Pawlik (2014) commented that with the advancement of the technology and usage of internet, attacks regarding it are also increasing in a rapid pace. So, in order to prevent data redundancy and manipulation of data, internet security is essential. 2.6 Pros and Cons of different programming languages used in internet security There are several pros and cons regarding the programming languages used for securing the internet. According to Kim and Chung (2013), Java can be used since it has a huge support base, and have application servers such as J2EE for web based applications. The C and C++ language if used gives speed and efficiency at the time of single HTTP transaction. The PHP can be easily embedded in the HTML and integrates well with apache. The Python is relatively easy for linking the C code and is well expressive and clean. In contrast to this, Ziegeldorf et al. (2013) commented that there are certain cons also using these programming languages. Usage of Python makes the system slow for certain tasks and the unusual syntax such as usage of white-space frightens the people who are used to C- syntax. Again, PHP is also slow and the language is vague. The absence of dynamic language features and huge implementation overhead for CGI makes the Java language used for internet security a bit difficult. The C and C++ language are easy programming languages and are prone to attacks. 2.7 Summary In this section, the different programming languages are discussed that are used for securing the internet. Along with this, the different kinds of attacks along with the programming languages that are used for making these viruses, worms, Trojan Horses etc. are made are also discussed vividly. Chapter 3 Research Methodology 3.1 Introduction According to Pawlik (2014), research methodology is a specific process through which we can carry out our own study and do the respective research on the basis of which we can figure out the effective business decision from the collected raw data and information. In short research methodology is the study for carrying out the research. In research methodology, there are two broader types of classification which are qualitative research and quantitative research. In qualitative research it helps to understand the motive of what, how, where of the behavior of the people on whose reply the whole study depends and also reasons of their reply criteria. In quantitative research it deals with the statistical and mathematical analysis of the data and on the basis of these analyses also the evaluation of the results. To carry out this research successfully we can do some types of research as experiments, surveys, questionnaires, interviews, participants and non-participants observation, obser vation trials etc. 3.2 Research Design Kim and Chung (2013), commented that Research design refers to a schematic outline which describes how an investigation will look like. In short through research design we can get the whole blue print of the study which describes the whole virtual structure of the study starting from the collection of data, what instruments to use and how to use. The whole research design can be of three types as exploratory, explanatory and descriptive. In this study the descriptive design of the research study is chosen where the whole structure of the design and also the quantitative part of the design can be analyzed. This descriptive structure includes the surveys, observations and analysis of the data and also the facts- findings analysis. 3.3 Data collection Methods In a very easy way data can be divided into two parts. One is primary data which are collected from the direct contact with the respondent and also doing the open ended interview through the internet users and also on the basis of the survey which is done through the questionnaire process and on the other hand the secondary data is on the basis of the others analysis of the research on which the re analysis is done from this point of view and most probably the sources of the secondary data are journals, magazines, analysis reports, etc. 3.4 Hypothesis For doing this research in a successful way, distributed the questionnaire which is prepared to do the analysis among round of 100 internet users through which it can easily deduce the facts that how many people are concerned about the internet security and for this process what types of protection they take. Among those 100 users 50 of them are responded back which helps to carry out the research work successfully and to deduce an effective conclusion. 3.5 Summary In this whole chapter it is discussed the whole about the techniques of design, collected data, methods, hypothesis which will be used in the analysis of the data and information which is used and also give the detailed view of the step to step approach and the guidelines how to carry out the research and also discuss about the whole content of the research methodology. Chapter 4 Results and Findings 4.1 Introduction In the previous chapter it is discussed how the data will be collected and how to analyze them for the better understanding of the topic. So to analyze the topic the whole questionnaire is prepared which is distribute among the internet users related to my research work which looks like as given bellow 4.2 Quantitative Analysis (for users) For how many years you are using the internet? Options No of respondents Total respondents Response% 1-2 years 7 50 14% 3-5 years 20 50 40% 6-10 years 10 50 20% 11-15 years 8 50 16% More than 15 years 5 50 10% Table1: use of the internet In this above graph, it shows that among the 100% of the users 14 % are using for 1-2 years, 40% are using for 3-5 years, 20% are using for 6-10 years, 16% for 11-15 years and only 1o% for more than 15 years are using the internet. Which devices you use maximum for accessing Internet facility? Options No. of respondents Total respondents Response% Computers 10 50 20% Laptops 20 50 40% Tablets 5 50 10% Phones 15 50 30% Table2: maximum access of the internet In this graph, it shows that now days 20% of the users are using from the computers, 40% are using from the laptops which are more, 10% are using from tablets and the rest 30% are utilizing their phones for internet access. To what extent are you concerned about the internet security? options No of respondents Total respondents Response% Most likely 20 50 40% Likely 10 50 20% Neutral 8 50 16% Less 7 50 14% Very less 5 50 10% Table 3: awareness of the internet security In this graph, 40% and 20% of the users are concerned about the internet security most likely and likely, 15% of the users are neutral and 12 % and 10% are less and very less concerned about the internet security. Chapter 5 Discussion 1. It is deduced that more than 40% of the users are using internet for 3 5 years, and it shows that recently for 5 years the use of the internet are increased in a higher rate as it tells that now everything is getting to be possible through the internet connection. So in todays life internet is going to be the best resource of everything.2. Maximum numbers of the users are using the internet from the laptops and phones as mostly the every time the internet connections are connected from these two devices so the getting effected from the internet threats of these two devices are increasing day by day.3. Hacking, virus attacks are also increasing day by day which can cause the deadly damage to the devices so the internet users are getting much more concern about the internet security because the attacks of the intruders are also increasing in a rapid rate. Chapter 6 Conclusion As going through the research which I completed by now it gets cleared that internet security is one of the rising concern for everybody because now days about 95% of the people of 100 are using internet in their daily basis. So if we have to pay our taxes, bills and also to do our online shopping etc internet is the most things which we needed. So to protect our devices, to avoid to get attacked and to protect our personal information internet security is the foremost important things to do. Reflective Report By going through the above study I concluded that internet security is the most important factor to consider in our daily life. As everybody is getting busier in day by day so to reduce the time consuming work to short span most of the things are getting computerized so that in less time we can do much more work. To reduce the consuming time and to do the much more work the usage of the internet is increasing in a rapid manner. As we all know the thing which has the good side to consider also have the bad side which can effect more rapidly to users. So to decrease this numbers of attacks and to get protected from the internet threats now internet users are taking different steps which can control these types of attack and also many types of security is also introduced. By going through this study I came to know that the hackers and the intruders are also using different types of the new technologies so that they hack the others computers and can steal the users personal information and also can corrupt the hard disk of the computers which can crash the whole computer system and also introduced the different types of dangerous malicious viruses. Some of the internet threats which can cause to the serious damage to the computers system are viruses, Trojan horse, malware, adware etc which attacks through web browsing, emails, CDs, DVDs or the external hard disk etc. as noticed that some types of viruses attacks the computers in such a way that the users cannot even realize that they are replicating automatically in numbers that they are occupying the more space of the computers memory, some others can track the IP addresses, email address so that they can do the leakage of the important data of the emails. Since these attacks of the internet threats a nd their security issues are increasing with the advancement of the internet technology. After gathering that much knowledge of the internet security I can clearly understand one thing that to give the security of the internet threats is not that much easy and that cannot also be reduced in a full manner. So to protect ourselves we have to do the daily measure which can kept us free from threats and among that daily measures some are using firewalls, securing web browsers, securing emails, using of the encrypted format of the data . Through firewalls we can make barrier between our computers and the outside world which can checks and even do the primary scan of the very data and information which is coming and going to and from the computers. By encryption and decryption of the Data we can coded the messages to a coded form which only can decoded by the sender and the receiver of the messages. It can decrease the redundancy, misuse and the loss of the data. By securing browser we can prevent the hackers to track our web history, to open the unwanted pages and the sites. In most basic protection from the internet attacks we can install the updated antivirus which can give the basic protection from the virus and also prevents to get opened the unwanted harmful web pages automatically. To carry out this project and to get the practical scenario of the todays internet attacks and the security provided from these types attacks I had done a surveys of the 100 internet users and did the quantitative analysis of the answers which I get from the 50 users who responded back to me and all the protection which I have discussed is fully on the basis on the problem which the responded mentioned. Most of the users are already very much concern about the internet security and are taking the various measure to protect themselves from the threats and only few more users are there who are neutral that they are not that much concerned about the threats facts and also have to tell and give them the knowledge about the internet threats and the required protection from the internet threats and how to take it and what to do. These protections help in giving the data security, data redundancy and to maintain the data integration. To do the internet security we can use some of the programming languages among them some are c/c++, java, PHP, Python etc. By using python we can clean and expressive the internet browser and also easy for the web developers to use but also have the some disadvantages which is come generally with all the advantages are that it becomes very slow for some program, and also very hard to choose the exact server which will be suitable because in some of the web browser it gets slow. In PHP, it is very good for the beginner of the programming, it can be coded in HTML language and also get the good integration as I tell it also have some of the cons that are through this PHP implementation it might can change the code of the programming without the note which can might cause the security error. By java as language in pros side we can get the more commercial support as much more tools are available to do the work and also the have the applications server for some of the web based applications and in its cons side it is highly executed language in which the chance of the errors are maximum and also have the lack of dynamic features of the languages. Reference List Kim, K. and Chung, K. (2013) IT convergence and security 2012, Dordrecht: Springer Gold, S. (2013) Getting lost on the Internet: the problem with anonymity,Network Security, pp.10-13 Pawlik, A. (2014) Safeguarding the future of the Internet,Computer Fraud Security, 2014(6), pp.13-15 Ziegeldorf, J., Morchon, O. and Wehrle, K. (2013) Privacy in the Internet of Things: threats and challengesSecurity Comm. Networks, 7(12), pp.2728-2742 Nie, X. (2013) Security Threats and Countermeasures in the Internet of Things Based on RFID,AMM, 380-384, pp.2817-2821

Characteristics of Modern World

Introduction The world is made up of several social systems which are integrated to incorporate economic and political systems. There are three categories of world-systems: World-empires and world-economies and socialistic systems. According to Wallerstein (1976) a modern world-system may be defined as a social system that is composed of limitations, organizations, groups of individuals, rules and regulations and has unity among different groups.Advertising We will write a custom essay sample on Characteristics of Modern World-Systems specifically for you for only $16.05 $11/page Learn More The world-system has various forces which conflict with each other because each unit tends to seek its own benefits from the system. World-systems have organic characteristics in that they change in some aspects and maintain stability in others. Social systems are independent because they develop by themselves. However, you cannot delineate social systems from externa l forces even though these forces have little impact on the social systems (Wallerstein, p. 391). World-empires and world-economies Social systems are small and independent from other systems which demand external support. This definition disqualifies most systems which are said to be social systems such as tribes, communities and nations. These are large systems and have a large influence emanating from the external environment. Such systems have many cultures within themselves and division of labor is a common thing in these systems. There are two types of such world-systems which are classified as world-empires and world-economies. World-empires have only one political system which maintains the control of all social systems in a specific area. In world-economies there exists more than one political system which controls all the activities of a given area. In the past, world-economies were not stable and they were used as empires or were left to disintegrate by themselves. Howeve r, world-economies have been in existence for many years and they have never been converted into world-empires (Wallerstein, p. 391). Introduction of socialism The fact that world-economies have been in existence for many years and they have never been converted into world-empires has brought about the issue of capitalism. The existence of capitalism is based on the fact that world-economies are established on the basis of many political systems. Capitalism is not immune from state interference and instances of influence into the economic affairs by the state have been experienced in many capitalistic economies. However, in capitalistic system political control have minimal control and cannot entirely control the entire system. In a capitalism system economic loss is absorbed by the political systems while private individuals benefit from the economic gains. This means that political factors have minimal control in a capitalistic economic system (Wallerstein, p. 392). Therefore, cap italists have the freedom to maneuver the economic systems for their own benefits. This system distributes rewards to all people in the society unequally because a few individuals manage to tap the economic benefits. The process of making decisions is the best mechanism that can be used to alter the pattern in which rewards are distributed in an economic system.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More This calls for the establishment of a socialistic world system. This system of world governance requires that economic resources be equally distributed to avoid disparities in the society (Wallerstein, p. 392). Nature of world-systems The level of technology determines the size of world-economies. Specifically, the level at which transport and communication has been developed in a country determines the size of world-economies. Thus, the extent of world-economies keeps on changing because technology is never constant. Division of labour is a major characteristic of world-economies and this may be functional and/or occupational. Thus, economic tasks are not equally distributed in such a system. The cause of unequal distribution of labor is caused by ecological factors or social arrangements at the workplace. As such some groups of individuals exploit the work of other groups in the society by obtaining greater amount of benefits from labour (Wallerstein, p. 392). World-empires tend to introduce culture into the occupational activities while world-economies tend to link political systems with culture. This situation is experienced because world-economies have political pressure from the state. The cultural homogeneity found in the two systems is used to satisfy the needs of major pressure groups which aim at establishing cultural and national identities. Integration of state machinery and culture helps reduce disparities that exist in a world-system (Wallerstein, p. 39 2). A world-economy is explained in terms of core-states as well as peripheral areas. The core-states are the advantaged regions in a world-economy while the peripheral areas are the disadvantaged regions. In a peripheral state have a colonial characteristic and small degree of autonomy. This is called a neo-colonial situation and is a major characteristic of peripheral states (Wallerstein, p. 392). Semi-peripheral areas also exist and these share the characteristics of core-states and the peripheral states. These areas are known to have been core-states previously but they change and state acquiring the characteristics of peripheral states. On the other hand, some peripheral areas may have been promoted to become core-states and have not yet fully attained such status and therefore can be classified as semi-peripheral (Wallerstein, p. 393). In a world-economy there is division of labour which is established to achieve greater levels of capitalization. The capital invested in a worl d-economy must be rewarded to ensure fair distribution of resources. The labour market is characterized by unequal distribution of human capital (labour) and this causes unstable supply and demand of labour.Advertising We will write a custom essay sample on Characteristics of Modern World-Systems specifically for you for only $16.05 $11/page Learn More The forces of labour demand and supply require world-economies to search technologies which bridge the gap between the labour supply and labour demand. Some regions within a world-economy change their labour structures to accommodate the requirements being initiated by the labour market. However, different sections of a world-economy have different labor demands. As such, the peripheral and semi-peripheral areas of a world-economy will have different labour needs and demands (Wallerstein, p. 393). The ability of a particular area to maintain the status of a core-state is challenging because many modern wo rld-systems are dynamic and regions are changing very fast. Over a long period of time some states tend to be replaced by others, therefore a particular core-state cannot remain dominant for a long period of time. It is also argued that world-economies can only assume a capitalistic system and feudalism is not acceptable in this system. Socialist movement exists in a world-economy and they act as control measures to regulate the activities of the state. Without the regulatory measures in a world-economy the human resource would not be fairly distributed and human capital would be exploited for the gain of the capitalists (Wallerstein, p. 393). In a world-system there are social classes as well as status groups. The social classes are defined by geographical coverage of the people practicing certain cultures. In any world-system social classes exist by default but the conditions for the existence of these classes depend on the political and economic systems within the system. The exi stence of social classes creates conflicts among the various strata and social boundaries do exist to separate each social class. The class boundaries require privileges to be maintained within the world-system. The existence of social classes requires people to form alliances and this reduces the number of social classes in a world system. The social groups are defined by ethnicity, language or religion. To establish many social groups in a world system creates conflicts and several groups emerge to solve these conflicts. However, despite the fact that various social groups emerge these groups are later absorbed and the number reduces automatically. However, in some systems there may exist no social groups while in others there may exist more than two (Wallerstein, p. 394). Conflicts in a world system exist when there is more than one social class because conflicts involve two or more groups. Conflicts exist when one class of individuals identify itself as universal and when it ten ds to dominate other groups in the system.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The capitalistic class defines itself as a universal class and it tends to carry out its political pursuit to rule the other social classes. There is correlation between political activities and economic systems in a social group. Therefore, social classes tend to use the political and economic systems to rule others in a world system (Wallerstein, p. 394). The European world-economy is an example of a system that applied the one-class system. This existed in the sixteenth century and this led to economic expansion of the system. Dynamic forces existed in the economy and this created more profits to the state. The core-states of this world-economy were very sensitive to class differences. Political groups were defined according to their political roles in the state. There were different occupations for different groups of people for example; there were farmers, merchants, entrepreneurs as well as industrialists. Each group aimed at obtaining profits from the economic activities they were involved in. However, each group had distinct characteristics from each other. For example, some groups were profit oriented while others are not. Some groups which advocated for the traditional aristocracy fought to gain status privileges while small farmers groups accepted their status without fighting (Wallerstein, p. 394). The existence of different cultural practices caused many groups to collaborate and form alliances. The alliances were developed from political centers. France is an example of a country that had political system that was based on cultural set up of the people. As such the Catholicism cultural practices influenced the shape and direction of the politics of the country. The issues about class differences in the society started to gain momentum during the sixteenth century. As such, capitalist class were started and gained a lot of influence to the political arena. The existence of state made a lot of influence on the extent to which the political, capital istic and social groups were formed. It is the state which controlled all the activities in a world-economy. However, no state machinery is strong enough to control all the systems and the capitalistic class had no systems to protect it from the gains and losses that would emanate from the entire system. State machineries are strong in some areas and weak in others (Wallerstein, p. 395). Strong state machinery refers to the existence of strong political, social and economic structures in a state. The existence of political, social and economic groups in a state exerts enough pressure to the state and they influence the decisions made by state leaders. However, state managers as well as the bureaucracies put in place within a state control the interests of different groups that exist within it (Wallerstein, p. 395). For example, the tax system in a state helps collect revenues which are used to implement the bureaucracies which have been placed in an economy. However, State bureaucra cies have many limitations which hinder many processes but they cannot be removed because they are required for the safety of the state machinery (Wallerstein, p. 396). In a situation where the state machinery is weak, the state leaders and managers play an insignificant role of coordinating all the mechanisms in the economy. As such they have limited legitimate authority to control the activities of the economy. The existence of these types of leaders has been phased out in modern days because state leaders and managers must be vibrant and they should ensure that every aspect of the economy is operating well. In the modern world, states are governed by profit making ideologies where state managers control all resources to achieve maximum profits possible (Wallerstein, p. 397). Conclusion Modern world-systems are made up of world-empires and world-economies and socialistic systems. The existence of modern political, economic and social systems is founded from the traditional world-s ystems. There exist classes in a world system which defines various economic, political and social classes. the state leaders and managers have the obligation of uniting the various groups in the state to avoid conflicts among the groups. Work Cited Wallerstein, Immanuel Maurice. Capitalist agriculture and the origins of the European world-economy in the sixteenth century. Michigan, Academic Press, 2010. ISBN 0127859209, 9780127859200. This essay on Characteristics of Modern World-Systems was written and submitted by user Brantley Diaz to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

20 Dissertation Topics in Project Management Un-to-the-Point in 2018

20 Dissertation Topics in Project Management Un-to-the-Point in 2018 It can be a challenge to come up with dissertation topics. Sometimes, finding an idea can be the hardest part. You might feel like there are not enough options out there, especially once you narrow your focus to a particular subject. Students have said that this is one of the most difficult parts of writing a dissertation in project management. For now, we are going to focus on project management dissertation topics that could be a great start point to crafting a masterpiece. There are more dissertation topics in project management than you might think. The purpose of using one of these topics is really just to get the ball rolling. Once you come up with an idea, you can begin researching and writing about it. You don’t want to be stuck searching for a topic when you could be spending that time actually on a dissertation writing. Here are some of the topics that can help you write a strong project management essay. They aren’t in any specific order, so you can just choose the one that is the most relevant to you or helps you to achieve your purpose. Keep in mind that these can be altered to better fit your goals and interests. You might even want to combine a couple of ideas to take a new stance! Budgeting Tools and Their Importance to Technological Projects How to Successfully Manage the Communication of Remote Project Teams What Can Be Expected of Remote Teams in the Future and Why? What Improvements Are Causing a Shift in Remote Work Environments? How Will Emotional Intelligence Affect the Overall Dynamics of a Workspace? How Does Emotional Intelligence Influence Leadership Positions? What Is the Future of Resource Management, and Why Is It Gaining Importance? When Should Remote Workers Be Hired as a Part of Resource Management? What Tools Are Available for Digital Project Management Opportunities? What Could Be Leading to the Rise of Digital Project Management Jobs? Why Are Training Courses Essential to an Effective Project Management Structure? How Does the Culture of a Company Influence Its Overall Success in the Technology Industry? Which Factors Are Causing Project Staff to Remain an Ongoing Issue? How Does Up-and-Coming Digitalization Contribute to Employee and Team Portfolios? What Changes Will Be Made in the Organizational Structures with New Technological Advancements? How Should Responsibilities Be Divided Among a New Technologically-Driven Team? What Can Be Expected of Project Management Offices as They Continue to Evolve? What Types of Cloud Servers Will Be Used In Place of Internal Solutions and What Are the Benefits? What Are the Pros and Cons of Agile and Iteration Methods within the Project Management Space? As Project Management Improves, Are Specialization or General Skills More Effective? As you can see, the possibilities are endless. Some of these topics do have overlapping content areas, so you can easily blend those to create a different topic. After you decide on a general idea, you are able to move to the more important details - the content itself. Mind to use hooks that will involve the audience in your piece.   In case you have no idea what could serve you as an attention grabber, we have made a list of 10 facts you could insert in your paper. Sample Essay on How Responsibilities Should Be Divided Among a Team? When a team begins working on an important project, there is a lot for them to consider. It is usually required that they break down the different elements and discover a logical solution. Once they do this, they also need to distribute the workload. It might seem easy to just assign each team member a task and get to work. But, this is not the most effective way to accomplish a task, and there are much better methods to turn to. One of the best ways to assign responsibilities for a project is to evaluate the team members’ individual skills. Each of them should have their own skill set, such as technology, writing, or design. In addition, some members might have more specific skills. This might be based on their actual job title, their interests, or their personal experience. Giving people the tasks that they are most familiar with is important for a number of reasons. First, this will save time. If someone agrees to a writing task that is a piece of the whole project, they have to be aware of the proper etiquette of writing. Perhaps, they have written something of the same nature before. The same goes for someone who offers to design an image or a handout about the project. This will help cut down on time spent on the research. This will also provide team members with the opportunity to work on what they are passionate about or what they truly care about. Sometimes, the skillset is just too narrow. This happens usually if every employee is knowledgeable about the same topics or where there is a limited number of employees working at a team. There might not be a team member who is experienced in computers or coming up with budget details. This can leave teams in a tough spot with an important position to fill. This does not have to be difficult though, as there are ways to accomplish the tasks without seeking more team members. That is definitely an option, but it does not have to be the first one. Team members can come together to apply the basic knowledge that they might have in the needed area. From there, they can all work to dig deeper and understand the other concepts. A team might also decide to assign the research portion to one or two of its members. This can take a lot of time, especially if it requires the team members to learn how to utilize the new information right away. This means that these individuals should not be given much other work, which will give them adequate time to learn the new skills. If the project has equal opportunities for everyone involved, this is ideal. This is a good place to narrow the project to the areas where each person has a task that is related to the overall skills of the team. Additionally, this allows for proper fact-checking and revisions. If each member is an expert in the project, they will be able to verify the information for accuracy. Sometimes, it becomes necessary to look for extra help outside of the office or team. This is a good way to ensure the expertise is going to be brought to the table, but it can be costly. This should only be considered if it fits into the project’s budget. Overall, there are a few ways to assign responsibilities to different team members. If in doubt, teams can divide the tasks randomly and make changes if needed. It is a good idea to do this logically though, as it will increase the efficiency. Some teams will decide to outsource new members that have stronger skill sets. This is an excellent option if the budget gives the green light. References: Burke, R., Barron, S. (2014). Project management leadership: building creative teams. Chichester: John Wiley Sons. Fleming, Q. W., Koppelman, J. M. (2012). Earned Value Project Management Fourth Edition. Chicago: Project Management Institute. Frame, J. D. (2014). Reconstructing Project Management. Project Management Journal, 45(1). Heagney, J. (2016). Fundamentals of project management. New York: McGraw-Hill. Lebedeva, A. (2015). Five essential project management skills for RM and IG professionals. Overland Park. 28-33. A Peek into the Future of Project Management. (2015). Project Management 2.0, 25-35. Schwalbe, K. (2006). Information technology project management. Boston, MA: Thomson Course Technology.

1. What is your Managerial Philosophy Under what conditions it will Assignment

1. What is your Managerial Philosophy Under what conditions it will work and what may make you reconsider your managerial philosophy 2. What is ethics and what is ethical behaviour - Assignment Example The other condition where it would work is where the management lenders challenging but job related tasks, guidance to their success in these challenges rejuvenates the energy to work harder. However, there are extreme cases that lead to the reconsideration of this philosophy; when brooding and checking for potential leaders within the team, as a manager one has to drop this philosophy to observe the best skills or who could coordinate others in your absentia yet via the right business track. Ethics can be defined as a control mechanism involving systemization, defending and recommending various concepts termed as right or wrong that often address moral disputes or limit chances of moral dispute occurrence all together (Barbara, 2010). Ethical behavior means acting in a manner consistent with individuals or the society typically regard as good values. This behavior is healthy for any goal-oriented business. Ethical behavior is known to involve demonstration of respect for important and morally upright principles, which includes fairness, dignity, honesty individual rights, equality and diversity. In conclusion, management philosophies guide a business leader, but would be eased further by training the staff on the benefits of work ethics where they can guide themselves in the manager’s

Accounting Case Study Example | Topics and Well Written Essays - 250 words

Accounting - Case Study Example Case in point, the author ought to get 80% of the tender. Redone showcasing battles are essential for this situation to enhance productivity. More also, it is central for the author to be dynamic in advancements. To expand eminences, books ought not to be sold straight forwardly to retailers on a refundable basis. Furthermore, short rebates are vital so as to augment sovereignties. Specifically, an organization can be spoken to through a blend of three primary components: 2) administration exercises, That can be recognized in operational and vital. Functional activities are normally short term situated and concentrated on proficient use of accessible organization assets (e.g., gear, human good). Control costs. The point of interest of controlling costs is that for each money you spare by reducing a price, there will be an additional money in benefits, Reduce promoting expenses, Manage your stock, Develop a database, Seek add-on deals (McGee and Preobragenskaya 2). Nearby its current item run; that Slim Choice embrace a crisp and sound picture and be advanced in the media utilizing thin, vigorous and youthful models; Dont stretch out credit to moderate clients. Diminish credit terms. Enhance endeavors to gather obligations i.e. enlist a debt gathering office. Offer rebates to right on time

Reviews on Financial Risk Management Essay Example for Free

Reviews on Financial Risk Management Essay The definition and types of financial risk III. Risk management and the theoretical foundation IV. The process of financial risk management V. The challenges faced by the modern financial risk management theories ?Abstract? Financial risks are exposures of uncertainties for those participants in financial market. Financial risks can be divided into four categories: market risk, credit risk, liquidity risk and operational risk. Risk management has become more and more crucial for a market participant to survive in the highly competitive market. As the development of the global financial market, there are many phenomena that cannot be explained by traditional financial risk management theories. These phenomena have accelerated the development of behavioral finance and economic physics. The financial management theories have already improved a lot over the past decades, but still facing some challenges. Therefore, this report will review some important issues in the financial risk management; introduce some theoretical foundation of financial risk management, and discuss the challenges faced by the modern financial risk management. I. Introduction Financial risk is one of the basic characteristics of financial system and financial activities. And financial risk management has become an important component of the economic and financial system since the occurrence of financial in human society. Over the past few decades, economic globalization spread across the world with the falling down of the Bretton Woods system. Under above background, the financial markets have become even more unstable due to some significant changes. Many events happened during the decades, including the â€Å"Black Monday† of the year 1987, the stock crisis in Japan in 1990, the European monetary crisis in 1992, the financial storm of Asia in 1997, the bankruptcy of Long-Term Capital Management in 1998, and the most recent global financial crisis triggered in the year 2008. All these changes brought enormous destruction of the smooth development of the world economy and the financial market. At the same time, they also helped people realized the necessity and urgency of the financial risk management. Why did the crisis happened and how to avoid the risk as much as possible? These questions have been endowed more significant meaning for the further development of the economy. Therefore, this report will review some important issues in the financial risk management; introduce some theoretical foundation of financial risk management, and discuss the challenges faced by the modern financial risk management. II. The Definition and Types of Financial Risk The word â€Å"risk† itself is neutral, which means we cannot define risk a good thing or bad. Risk is one of the internal features of human behavior, and it comes from the uncertainty of the future results. Therefore, briefly speaking, risk can be defined as the exposure to uncertainty. In the definition of risk, there are two extremely important factors: first is uncertainty. Uncertainty can be considered as the distribution of the possibility of one or more results. To study risk, we need to have a precise description about the possibility of the risk. However, from the point view of a risk manager, the possible result in the future and the characteristic of the possibility distribution are usually unknown, so subjective factors are frequently needed when making decisions. The second factor is the exposure to uncertainty. Different human activities were influenced at different level to the same uncertainty. For example, the future weather is uncertain to everyone, but the influence it has over agriculture can be far deeper than that over finance industry or other industry. Based on the above description about risk, we could have a clearer definition of financial risk. Financial risk is the exposure to uncertainty of the participants in the financial market activities. The participants mainly refer to financial institutions and non-financial institutions, usually not including ndividual investors. Financial risk arises through countless transactions of a financial nature, including sales and purchases, investments and loans, and various other business activities. It can arise as a result of legal transactions, new projects, mergers and acquisitions, debt financing, the energy component of costs, or through the activities of management, stockholders, competitors, foreign governments, or weather. (Karen A. Horcher). Financial risk can be divided into the following types according to the different sources of risk. A. Market risk. Market risk  is the  risk  that the value of a portfolio, either an investment portfolio or a trading portfolio. It will decrease due to the change in value of the market risk factors. The four standard market risk factors are stock prices, interest rates, foreign exchange rates, and commodity prices. The influence of these market factors have over the financial participants can be both direct and indirect, like through competitors, suppliers or customers. B. Credit risk. Credit risk  is an investors risk of loss arising from a borrower who does not make payments as promised. Such an event is called a  default. Almost all the financial transactions have credit risk. Recent years, with the development of the internet financial market, the problem of internet finance credit risk also became prominent. C. Liquidity risk. Liquidity risk  is the risk that a given security or asset cannot be traded quickly enough in the market to prevent a loss. Liquidity risk arises from situations in which a party interested in trading an  asset  cannot do it because nobody in the  market  wants to trade that asset. Liquidity risk becomes particularly important to parties who are about to hold or currently hold an asset, since it affects their ability to trade. D. Operational risk. Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Nowadays, the study and management of operational risk is getting more attention. The organizations are trying to perfect their internal control to minimize the possibility of risk. At the same time, the mature theory of other subjects, such as operational research methods, are also introduced to the management of operational risk. Overall, financial risk management is a process to deal with the uncertainty resulting from financial markets. It involves assessing the financial risks facing an organization and developing management strategies consistent with internal priorities and policies. Addressing financial risks proactively may provide an organization with a competitive advantage. It also ensures that management, operational staff, stockholders, and the board of directors are in agreement on key issues. III. Risk Management and the Theoretical Foundation Financial market participant’s attitude towards risk can be basically divided into the following categories. A. Avoid risk. It is irrational for some companies to think that they can avoid the financial risks though their careful management because of the following reasons. First of all, risk is the internal feature of human activities. Even though it doesn’t have direct influence, it could generate indirect influence though the competitors, suppliers or customers. Moreover, sometimes it might be a better choice for the manager of the company to accept risk. For example, when the profit margin of the company is higher than the market profit margin, the manager can increase the value of the company by using financial leverage principle. Obviously, it will be harder to increase the value of a company if the manager is always using the risk avoidance strategy. B. Ignore risk. Some participants tend to ignore the existence of risks in their financial activities, thus they will not take any measures to manage the risk. According to a research of Loderer and Pichler, almost all the Swedish multinational companies ignored the exchange rate risk that they are facing. C. Diversify risk. Many companies and institutions choose to diversify risk by putting eggs into different baskets, which means reaching the purpose of lower risk by holding assets of different type and low correlation. And the cost is relatively low. However, as to small corporations or individuals, diversifying risk is somehow unrealistic. Meanwhile, modern asset portfolio theory also tells us that diversifying risk could only lower the unsystematic risk, but not systematic risk. D. Manage risk. Presently, most people have realized that financial risk cannot be eliminated, but it could get managed though the financial theory and tools. For instance, participants can break down the risk they are exposed to by using financial engineering methods. After keeping some necessary risk, diversify the rest risk to others by using derivatives. But why do we need financial risk management? In other words, what is the theoretical foundation of the existence of financial risk management? The early financial theory argues that financial risk management is not necessary. The Nobel Prize winner Miller ;amp; Modigliani pointed out that in a perfect market, financial measures like hedging cannot influence the firm’s value. Here the perfect market refers to a market without tax or bankruptcy cost, and the market participants own the complete information. Therefore, the managers do not need to worry about financial risk management. The similar theory also says that even though there will be slight moves in the short run, in the long run, the economy will move relatively stable. So the risk management that is used to prevent the loss in short term is just a waste of time and resource. Namely, there is no financial risk in the long run, so the financial risk management in the short run will just offset the firm’s profits, and therefore reduce the firm’s value. However, in reality, financial risk management has already roused more and more attention. The need for risk management theory and measures soar to unprecedented heights for both the regulator and participants of the financial market. Those who think risk management is necessary argue that the need for risk management is mainly based on the imperfection of the market and the risk aversion manager. Since the real economy and the financial market are not perfect, the manager can increase a firm’s value by managing risk. The imperfection of the financial market is shown in the following aspects. First, there are various types of tax existing in the real market. And these taxes will influence the earning flow of the firm, and also the firm’s value. So the Modigliani ;amp; Miller theory does not work for the real economy. Secondly, there is transaction cost in the real market. And the smaller the transaction is, the higher the cost. Last but not least, the financial market participants cannot obtain the complete information. Therefore, firms can benefit from risk management. First, the firm can get stable cash flow, and thus avoid the external financing cost caused by the cash flow shortage, decrease the fluctuation range of the stock and keep a good credit record of the company. Secondly, a stable cash flow can guarantee that a company can invest successfully when the opportunity occurs. And it gets some competitive advantage compared to those who don’t have stable cash flow. Thirdly, since a firm possesses more resource and knowledge than an individual, which means it could have more complete information and manage financial risks more efficiently. If the manager of a firm is risk aversion, he can improve the manager’s utility through financial risk management. Many researches show that the financial risk management activities have close relation to the manager’s aversion to risk. For example, Tufano studied the risk management strategy of American gold industry, and found that the risk management of firms in that industry has close relation to the contract that the managers signed about reward and punishment contracts. The managers and employees are full of enthusiasm about risk management is because that they put great amount of invisible capital in the firm. The invisible capital includes human capital and specific skills. So the financial risk management of the firms became some natural reaction to protect their devoted assets. In conclusion, although controversy is still going on about the financial risk management, there is no doubt that the theory and tools of financial risk management is adopted and used by market participants, and continue to be enriched and innovated. IV. The Process of Financial Risk Management The process of financial risk management comprises strategies that enable an organization to manage the risks associated with financial markets. Risk management is a dynamic process that should evolve with an organization and its business. It involves and impacts many parts of an organization including treasury, sales, marketing, tax, commodity, and corporate finance. Company’s financial risk management can be divided into three major steps, namely identification or confirmation risk, measure risk and manage risk. Let’s illustrate it using the market risk as an example. First, confirm the market risk factors that have a significant influence to the company, and then measure the risk factors. At present, the frequently used measure of market risk approach can be divided into the relative measure and absolute measure. A. The relative measure method It mainly measures the sensitivity relationship between the market factors fluctuations and financial asset price changes, such as the duration and convexity. B. The absolute measure methods It includes variance or standard deviation and the absolute deviation indicator, mini max and value at risk (VaR). VaR originated in the 1980s’, which is defined the maximum loss that may occur within a certain confidence level. In mathematics, VaR is expressed as an investment vehicle or a combination of profit and loss distribution of ? -quantile, which stated as follows: Pr ( ? p ;lt;= VaR ) = ? , where, ? p said that the investment loss in the holding period within the confidence level (1 –? ). For example, if the VaR of a company is 100 million U. S. ollars in 95% confidence level of 10 days, which means in the next 10 days, the risk of loss that occurred more than 1 million U. S. dollars may of only 5%. Through this quantitative measure, company can clear its risks and thus have the ability to carry out the next step targeted quantitative risk management activities. (Guanghui Tian) The last step is management risk. Once the company identified the major risks and have a quantitative grasp of these risks through risk-measurement methods, those companies can use various tools to manage the risk quantitatively. There are different types of risk for different companies, even the same company at different stages of development. So it requires specific conditions for the optimization of different risk management strategies. In general, when the company considers its risk exposure more than it could bear, the following two methods can be used to manage the risk. The first way is changing the company’s operating mode, to make the risk back to a sustainable level. This method is also known as â€Å"Operation Hedge†. Companies can adjust the supply channels of raw materials, set up production plants in the sales directly or adjust the volume of inflow and outflow of foreign exchange and other methods to achieve above purpose. The second way is adjust the company’s risk exposure through financial markets. Companies can take advantage of the financial markets. Companies can take advantage of the financial markets wide range of products and tools to hedge its risk, which means to offset the risk that the company may face through holding a contrary position. Now various financial derivative instruments provide a sufficient and diverse selection of products. Derivative products are financial instruments whose value is attached to some other underlying assets. These basic subject matters may be interest rates, exchange rates, bonds, stocks, stock index and commodity prices, but also can be a credit, the weather and even a snowfall in some ski showplace. Common derivatives include forward contracts, swaps, futures and options and so on. V. The Challenges Faced by the Modern Financial Risk Management Theory Over the recent years, as the focus of risk management hifts from a control function to one of global financial optimization, the concern shifts from modeling the behavior of engineered contracts in selected markets to modeling the evolution of the entire economy. This change of focus calls for a vastly improved ability to model the time evolution of economic quantities. (Sergio Focardi). While those who do risk management are interested in predicting if assets will go up or down, the over-riding interest is in the relationship in movement to different assets. Though linear methods such as variance-covariance help to understand the co-movements of markets, a different set of tools is necessary to better manage risk. (Jose Scheinkman). Paradigms such as learning, nonlinear dynamics and statistical mechanics will affect how risk – from market and credit risk to operational risk – is managed. While the first attempts to use some of these tools were focused on predicting market movements, it is now clear that these methodologies might positively influence many other aspects of economics. For instance, they could be useful in understanding phenomena such as price formation, the emergence of bankruptcy chains, or patterns of boom-and-bust cycles. Lars Hansen, Homer J. Livingston professor of economics at the University of Chicago, remarks that these new paradigms will bring to asset pricing and risk management at enhanced understanding once the implicit underlying fundamentals are better understood. He says â€Å"What needed is a formal specification of the market structure, the microeconomic uncertainty, and the investor preferences that is consistent with the posited nonlinear models. Commenting on the need to bring together the pricing of financial assets and the real economy, he notes that an understanding of what’s behind pricing leads to a better understanding of how assets behave. â€Å"For risk management decisions that entail long-run commitments,† he observes, â€Å"it is particularly important to understand, beyond a purely statistical model, what is governing the underlying movements in security prices. † Blake LeBaron, professor of economics at the University of Wisconsin-Medison, observes that there is now more interest in macro moves than in individual markets. But traditional macroeconomics typically provides only point forecasts of macro aggregates. In the risk management context, a simple point forecast is not sufficient; a complete validated probabilistic framework is needed to perform operations such as hedging or optimization. One is after an entire statistical decision-making process. The big issue is the distinction between forecasts and decisions. (Blake LeBaron) Arriving at an entire statistical decision-making process implies reaching a better scientific explanation of economic reality. New theories are attempting to do so through models that reflect empirical data more accurate than traditional models. These models will improve our ability to forecast economic and financial phenomena. The endeavor is not without its challenges. Our ability to model the evolution of the economy is limited. Prof. Scheinkman notes that unlike in a physical system where better data and more computing power can lead to better predictions, in social systems when a new level of understanding is gained, agents start to use new methods. Prof. Scheinkman says â€Å"Less ambitious goals have to be set. Gaining an understanding of the broad features of how the structure of an economic system evolves or of relationships between parts of the system might be all that can be achieved. Prof. Scheinkman remarks that we might have to concentrate on finding those patterns of economic behavior that are not destroyed, at least not in the short-run, by the agent learning process. VI. Conclusion The theory foundation of modern financial risk management is the Efficient Markets Hypothesis, which notes that financial market is a linear balanced system. In this system, investors are rational, and they make their investment decision with rational expectations. This hypothesis shows that the changing of the future price of financial assets has no relation with the history information, and the return on assets should obey normal distribution. However, the study of economic physics shows that financial market is a very complicated nonlinear system. At the same time, behavioral finance tells us that investors are not all rational when making decisions. They usually cannot completely understand the situation they are facing unlike hypothesized. And most times they will have cognitive bias, when they use experience or intuition as the basis of making decisions. It will lead to irrational phenomena like overreaction and under reaction when reflected on investment behaviors. Therefore, it will be meaningful to study how to improve the existing financial risk management tools, especially how to introduce the nonlinear science and behavior study into the measurement of financial risk.