Risk Management in Business - 516 Words

Risk management is the process where individual and overall risks are understood and managed, thus optimizing success by minimizing the threats and to maximize opportunities [APM Body of Knowledge, p. 179]. All projects are inherently risky, because it performed by people and subject to the external influences or environment. Risk is something that it cannot be predicted. That is why into the company’s organization, risk management has an essential and vital part in any project whether that is in the planning procedure or to project implementation. Risks are always exists and can be translated as an opportunity to gain benefits. In addition a risk may incur serious monetary losses. The first step of risk management begins when identifies risk. These are identified through several techniques that risk management can select and use. One of the most effective techniques is brainstorming where members are attending meetings in order to gain ideas of either to identify a risk or ho w to overcome the arising risk. However a document review technique is also applied which is also very helpful, in this technique, documents are reviewed from prior projects which leads to a better understanding of the risks that may do occur. If a company seeks risk management capabilities, is to gaining competitive advantage, riskier businesses seek potential and higher profits. When a company reached to a level of having a strong risk management team many advantages are revealed. Company can haveShow MoreRelatedRole Of Risk Management On A Business Essay1189 Words   |  5 PagesROLE OF RISK MANAGEMENT In starting a business, there can be a set of uncertainties and circumstances that may arise in a period of time. Any potential hazards whether it may be small or big can destroy a business while others can bring about a serious harm that can be excessive and difficult to repair. Nonetheless, the dangers present in running a business, CEOs and/or risks management officers regardless of the extent of the business from a small to a corporate company can prepare in the eventRead MoreBusiness Continuity And Risk Management1593 Words   |  7 PagesBusiness Continuity (BC) and Risk Management (RM) are closely intertwined in both the policies, procedures, and maintenance of most businesses. They’ve become necessary for providing the guidelines on maintaining functionality regardless of any threats or events that may disrupt services. Vaid notes in his article on the subject, that in the case of modern businesses, â€Å"When customers become accustomed to a service it then becomes a ‘utility’. What was once considered an ‘event’ becomes ‘operational’Read MoreA Brief Note On Risk Management And Business Management2368 Words   |  10 PagesFERGUS PATERSON RISK MANAGEMENT BUSINESS CONTINTUITY MANAGEMENT M3N211756 SMEs and BCM in the UK (2483) â€Æ' There is a perception in the UK that Small – Medium Enterprises (SMEs) generally don’t implement Business Continuity Management (BCM). BCM is becoming more and more standard but its benefits aren’t always clear. SME is an acronym of Small – Medium Enterprises. An enterprises size is defined, in EU Law, by its number of employees and either the turnover or balance sheet totalRead MoreRisk Management in Export-Import Business1463 Words   |  6 PagesRisk Management in Export-Import Business Now since the world is all connected and globalization became normal in this century, many investors and traders turn into international trading. International trading opens a very likely chance of benefiting market to do successful business. International trading includes exporting and importing which allows the businessman to connect personally with all the necessary suppliers and manufacturers which will eventually lead to cost effectiveness. HoweverRead MoreRisk Management Course of International Business838 Words   |  3 PagesRecently, There are some personal reflections a great learning experience in the course of risk management of international business. I would like to share in this journal. It has been a long time since I defined the most fundamental and strong motivation of corporations is maximizing business profit. Even after the proposal of corporation social responsibility, I assumed that only the result of unharmed business operation can make company start to consider social responsibilities and until they increasedRead MoreRisk Assessment and Business Management Essay911 Words   |  4 PagesRisk Assessment and Management Problem The term risk assessment refers to an objective evaluation of risks to which end the assumptions and uncertainties are clearly put into consideration as well as presented. On the other hand in regards to risk management it has in most cases courted difficulties in the measurement of both the quantities in which risk assessment is concerned (Muzzi, Armando, and Augusto Panà  , 2000, pp. 99-103). This is because the potentiality of an anticipated loss and the probabilityRead MoreRisk Management Is An Integral Part Of The Business Decisions881 Words   |  4 PagesRisk is a gamble each organization must face when dealing with information assets. Risk management is the centerpiece to how an organization must discipline itself when it comes to the trade-off of cost for additional security or the importance of losing information. Whitman (2015) explains the there are three elements that make up the identity of risk management. These three are risk control, risk identification and risk as sessment. Risk is identified and assessed based on probability and likelyRead MoreRisk Management Is A Essential Component Of Any Business1046 Words   |  5 PagesRisk Management is a vital component of any business, especially health care. Risk management can be generally defined as recognizing, preventing, and monitoring situations that could result in injury or liability, monetary loss, or noncompliance of regulations (Chubb Health Care, 2004, 9). In a basic risk management system, risks are identified in separate risk area. Each risk area is handled by a different department. It addresses the risks to an organization at the department level. In theRead MoreRisky Business : Corporate Governance And Risk Management2358 Words   |  10 Pages Risky business: Corporate governance and risk management in the wake of the global economic crisis. Word Count: 1500 (+/- 10%) not including references and quotes Introduction â€Å"A Chicago teenager is looking for fun at home while his parents are away, but the situation quickly gets out of hand† (IMDB, 2014). This is the logline for the Tom Cruise movie Risky Business. In the wake of the global economic crisis, questions are being asked if company’s were justRead MoreBusiness Continuity Plan as a Part of Risk Management18773 Words   |  76 Pages........................................7 CHAPTER 1 RISK MANAGEMENT ............................................................8 1.1 The Definition of Risk ............................................................... 8 1.2 Risk in Business Activity......................................................... 10 1.2.1 Types of Risk ..................................................................................... 10 1.2.2 Methods of Risk Evaluation...........................................

Cultural Critique Of Japanese Cafes - 1400 Words

Cultural Critique of Japanese Cafà ©s In Japan, there are many aspects that make it attractive to the human eye. One of those things is the abundant ‘kawaii’ attributes. ‘Kawaii’ is a Japanese word used to reference things that are cute or adorable. A couple of examples would be kitty keychains, ice cream earrings, and pink owl sharpeners. However, they don’t always have to be something small. Another common attraction in Japan that’s considered ‘kawaii’ are the various themed cafà ©s, or restaurants. The cafà ©s in Japan are wildly different and diverse from the typical American cafà ©s and they usually include a signature theme, such as cats, ninjas, and maids. The most common cafà © in Japan is the typical maid cafà ©. This is where the waitresses usually dress up in a maid costume and talk to the customers as if they were their ‘master’. Patrick Galbraith wrote an article that goes in depth about maid cafà ©s. In his article he mentions, â€Å"Maid cafà ©s first appeared in the late 1990s in Akihabara, Japan, an area where dating simulation games were sold and players gathered. Maid cafà ©s extended relations with fictional characters from media to physical reality, allowing players to interact with fictional characters in human form, while at the same time interacting with humans who perform characters† (GalBraith). So people would go to these cafà ©s as a way to bring their dating simulation games to life. It could also be a great way for people who are lonely, to find a connection withShow MoreRelatedStarbucks: Going Global Fast925 Words   |  4 Pagescoffee as well. *As Starbucks is going abroad to expand its business with local partners of that region there risk of SRC and ethnocentrism. It can be over come through proper adjustment keeping SRC and ethnocentrism away in decision making. 3. Critique Starbucks’ overall corporate strategy. Starbucks are incurring losses for mismatch between their corporate strategies and the customer’s expectations. *When Starbucks is blanketing some specific cities for dominance, still eight states in theRead MoreStarbucks-Going Global Fast1353 Words   |  6 Pages †¢ As Starbucks is going abroad to expand it business with local partners of that region there risk of SRC and ethnocentrism. It can be over come through proper adjustment keeping SRC and ethnocentrism away in decision making. Question No.3. Critique Starbucks overall corporate strategy. Answer: Starbucks are incurring losses for mismatch between their corporate strategies and the customer’s expectations. Those are described below: †¢ When Starbucks is blanketing some specific citiesRead MoreArt And Culture, 1920-1945, An Exhibition Curated By Dr. Kendall Brown1583 Words   |  7 PagesBetween February 13 and July18, 2015 the Brigham Young University Museum of Art is exhibiting Deco Japan: Shaping Art and Culture, 1920-1945, an exhibition curated by Dr. Kendall Brown. The exhibit was collected in an attempt to detail the cultural transformation that took place in Japan from the Roaring Twenties all the way through the end of World War II. The exhibit displays the tension between the deep national culture and the up and coming cosmopolitan lifestyle. Dr. Brown gathered art of allRead MoreCoffee And Its Effects On The World s Most Widely Consumed Beverages And One Of The Globe2735 Words   |  11 Pagescontinued to grow by almost 30% over the past four years (U.S. Department of Agriculture Foreign Agricultural Service [USDA - FAS], 2013: 1). Metaphorically speaking, the coffee industry practically exp loded over the past decade with almost a 900% rise in cafes and other similar shops between the periods 2006 – 2011. As of 2012 there were over 12,000 specialty coffee shops within the country as opposed to 7500 in 2008 (Asia Today: 5/5/2013). Amongst these the eleven biggest chains run approximately 1,382Read MoreThe kitchen is arguably the last battle – ground for reproduction of gender relations in the western world. Discuss.2158 Words   |  9 Pagesstill exists in the veiled form in the modern, urban culture and it is recorded in the social consciousness by new media and state authorities who referred to social, cultural and structural tradition. Weedon (1997) also describes gender as a socially produced and historically changing aspect of identity that is shaped by cultural and institutional discourse within a society. She writes: â€Å"As children we learn what girls and boys should be and later, what women and men should be† from social institutionsRead MoreStarbucks Going Global Fast3760 Words   |  16 Pagessuburbs and shopping malls are full to the brim. In coffee-crazed Seattle, there is a Starbucks outlet for every 9400 people, and the company considers that the upper limit of coffee-shop saturation. In Manhattan’s 24 square miles, Starbucks has 124 cafes, with four more on the way this year. That’s one for every 12000 people – meaning that there could be room for even more stores. Given such concentration, it is likely to take annual same-store sales increases of 10 per cent or more if the companyRead MoreMarketing Case Study9790 Words   |  40 Pagesyou think government officials in developing countries such as Russia, China, and India welcome McDonald’s? Do consumers in these countries welcome McDonald’s? Why or why not? Despite concerns by governments and citizens in some countries about â€Å"cultural imperialism,† McDonald’s and other franchises with well-known brand names are generally welcome. Such businesses provide both much-needed jobs and employee training. McDonald’s does a good job of earning the support of local authorities and theRead MoreTEFL Assignment Answers23344 Words   |  94 Pagesdiscussion from those that view his pieces. I would spend half of my brief talk-time on introducing the artist and his art—and then I would provide students with the opportunity to write a paragraph critique of the art. After the writing time, I would provide time for verbal discussion of their critiques. I would determine how much time is spent on writing vs. discussion based on the needs of the particular classroom. Note: This lesson can be altered by substituting the art for music, poetry, proseRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagescapitalist, colonial, and fascist. Particularly revealing are Spodek’s discussions of the influence of prominent urban planners and architects— including Le Corbusier and the Chicago School—urban preservation and the city as the locus of global cultural development, and the ways in which slums and shanty towns have morphed into long-term homes and viable communities for perhaps a majority of urban dwellers worldwide in the last half of the twentieth century. Broadly conceived and remarkably comprehensiveRead MoreStarbucks Business Plan31663 Words   |  127 Pages40 4.3.2.2.1 Defining market segmentation 40 4.3.2.2.2 Reasons for segmenting the market 41 4.3.2.2.3 How to segment the Danish coffee shop chain industry market 41 4.3.2.3 Consumer markets 42 4.3.2.3.1 Consumer behavior 43 4.3.2.3.1.1 Cultural factors 43 4.3.2.3.1.2 Social factors 44 4.3.2.3.1.3 Personal factor 44 4.3.2.3.2 The Five-Stages Model 45 4.3.2.3.2.1 Problem recognition 46 4.3.2.3.2.2 Information search 46 4.3.2.3.2.3 Evaluation of alternatives 47 4.3.2.3.2

Case for locog workforce Diversity Free Essays

Introduction Diversity within the workforce is one among the significant objectives of LOCOG. This broad objective of acknowledges differences among people in a number of ways with factors which include age, gender, marital status, sexual orientation, religion, disability, social status, personality, culture and ethnicity (Foot 2008). Managing of diversity is significant for the successful attainment of LOCOG’s objectives and, therefore, management ought to be aware of the importance of workforce diversity and how HR can contribute towards its broader objective of diversity. We will write a custom essay sample on Case for locog workforce Diversity? or any similar topic only for you Order Now This report puts forth a case for workforce diversity in LOCOG and how HR can contribute to this broad objective through its training and development of diversity awareness, its recruitment, selection and overall culture. Importance of workforce diversity Management of diversity requires the recognition of value and harnessing workforce differences and individual characteristics such as, religious beliefs, orientations, values, backgrounds, understanding, unique information, and their view of the world, so as to fully utilize individual talents and in turn meet LOCOG’s organizational goals (McCuiston 2004). In LOCOG’s endeavor to deliver this most challenging international project to the required standards of the International Olympic Committee and to live up to expectations worldwide, talent and diversity should be leveraged upon. Management focus is essential to ensure that benefits from positive effects of workforce diversity are accrued and potential negative consequences minimized (Mannix 2005). Benefits While diversity management includes commitment to equal employment legislation, this case argues for diversity in the endeavor to gain from its positive effects. Measurable benefits can be derived from policies that serve to promote diversity if properly implemented which include an improved bottom line, enhanced performance in business, satisfaction of employees and therefore loyalty, strong relationships with multicultural communities, attraction of the best and brightest candidates, and overall competitive advantage (McCuiston 2004). An improved bottom line could benefit the LOCOG through improvement in corporate culture which would consequently improve relationships with employees and clients. Better relationships decrease potential complaints and litigation while improved relations with the workforce would also have positive effects through ease of recruitment and higher retention of staff. Competitive advantage would result from the improved corporate culture and its effects of higher employee morale, higher retention and easier recruitment (Mannix 2005). This improved bottom line and competitive advantage would in turn enhance business performance enabling LOCOG realize its goal. Diversity increases the variety of perspectives and approaches it brings to opportunities for knowledge sharing and problem-solving, resulting in greater creativity of the team and quality of performance (Syeda 2009). Research done by the Australian center for International Business (ACIB) shows that diversity improves the quality of decisions of management, through provision of innovative ideas and solutions to problems in the organization that are superior than would be if not embraced (Shen 2009). A diverse workforce has more effective brainstorming processes resulting in better quality solutions relative to groups that are homogenous. For better effect, this should be premised on a constructive conflict management based primarily on tasks and information sharing (Foot 2008). Variations in education and functional area increases constructive task conflict through differences in opinions and perspectives could positively influence group performance if gainfully harnessed, and especially if cooperative behavior is espoused. While evidence points to progress being affected by conflict and challenges in communication in the short-term, diverse teams foster innovation producing high quality solutions with speed (Syeda 2009). Implications With employment relations founded on equality, LOCOG will likely attract and retain a qualified workforce adequate for its quest to deliver on its mandate, and it could also be beneficial in reducing staff turnover and absenteeism. The improvement of quality of decisions by management through diversification and constructive task conflicts, aided by improved relations in its system, higher employee morale, retention, easier recruitment and cooperation, would give LOCOG better capacity to deliver, giving it the required competitive advantage as it seeks to achieve on its objectives. Management of workforce diversity effectively enables access to the changing marketplace in the increasingly diverse global market, which also helps in the improvement of corporate image (Shen 2009). With attachment of value to diversity, this can become a source of competitive advantage for LOCOG as it hosts this international event. Role of HR in LOCOG’s diversity management Proper management of diversity in LOCOG can result in the enhancement of overall efficiency and greater effectiveness towards a successful delivery of its mandate. This should be premised on recognition of differences as positive attributes rather than problems that require solutions (Shen 2009). The potential benefits will not come into being simply as a result of diversity but corporate competence and increased tolerance for individuality would also be required to create an atmosphere that favors inclusion and values diversity (Syeda 2009). The HR function as the custodian of processes of people management, is mainly concerned with its contribution to business strategy. Previous studies have concluded that use of a variety of HR toolkits in addressing inequalities in recruitment, appraisal, advancement and rewarding can have the consequent effects of enhancing equal opportunity employment, improving inclusiveness and enhancement of creativity in the diverse workforce (Syeda 2009). Effective HR strategies require a focus on enhancing organizational learning and knowledge creation, overall flexibility and the development of work environments which are conducive to diversity management and which include the nurturing of teamwork, participation and cohesiveness. There is need to measure demographics or identity profile of work groups, the dominant culture in the organization, and employee perceptions in order to identify cultural barriers that could hinder participation of employees (McCuiston 2004). Training and development of diversity awareness High quality diversity awareness enhances effective integration of diverse team or group members. It builds a common understanding of values espoused in diversity and therefore social cohesion (Mannix 2005). HR needs to assess training needs and clarify training objectives so as to tailor it to the specific needs of LOCOG’s diversity objective. The aim of diversity awareness is to reduce stereotyping and prejudice and should be incorporated into the design of the training (McCuiston 2004). A top-down training strategy providing awareness to mangers at senior level initially then down to the team level would be valuable, linking training to the strategic diversity objective. The use of facilitators external to LOCOG in the awareness training would also help HR achieve higher productivity levels in shorter time enhancing constructive conflict in the short-term (Mannix 2005). LOCOG management should ensure the provision of equal opportunity to all employees for promotion and personal development through well designed professional development programs and career planning. This would entail direct interventions by top executives in the promotion process to ensure that diversity goals are met. Recruitment and selection Managing workforce diversity and increasing representation is a critical HR strategy and there is need to develop multiple cultures in LOCOG so as to avoid the tendency towards homogeneity which might negatively impact effectiveness in the long term. There is need for HR and line managers engaged in recruitment to be aware of ways in which beliefs, attitudes and stereotypes influence interview behavior, so that deliberate measures to foster diversity can be instituted (Shen 2009). Additionally, employees must be adequately prepared to take on demanding assignments through mentoring strategies to enhance productivity and performance. Culture A strategic management philosophy is required which recognizes diversity as reflected in LOCOG’s vision and business strategy, as well as, HR formulated diversity policies to support to this philosophy. This is aimed at developing an institutional culture creating an atmosphere of mutual respect of all employees, and entails appropriate shifts whenever there is recognition of unfavorable norms and values in the dominant organizational culture that do not take individual differences into consideration. Such a culture should cover the formulation and implementation of training, appraisal and pay policies enforcing the notion of equality and fairness (Syeda 2009). Conclusion This report presents a case for workforce diversity in LOCOG as it seeks to deliver the 2012 London Olympic and Paralympic games. Benefits that could accrue from this diversity and implications have been outlined and include improvement in bottom line and workforce relations, resulting in enhanced efficiency, gains in competitive advantage and thus enhanced business performance which would enable LOCOG achieve its objectives and mandate. HR seeks to contribute to the realization of these benefits through deliberate training and development of diversity awareness and culture evaluation, as well as, focusing on workforce diversity in the recruitment and selection of staff. References Foot, M., Hook, C., 2008. Introducing Human Resource Management. 5th ed. Harlow : Pearson Education Ltd. Mannix, E., Neale, M., 2005. â€Å"What Differences Make a DifferenceThe Promise and Reality of Diversity Teams in Organizations.† In: Psychological Science in the Public Interest. 6(2), 31-35. McCuiston, V., Ross, B., Pierce, C., 2004. â€Å"Leading the diverse workforce. Profit, prospects and progress.† In: The Leadership Organization Development Journal. 25(1), 73-92. Shen, J., et al., 2009. â€Å"Managing Diversity through human resource management: an international perspective and conceptual framework.† In: The International Journal of Human Resource Management. 20(2), 235-251. Syeda, J., Ozbilginb, M., 2009. â€Å"A relational framework for international transfer of diversity Management practices.† In: The International Journal of Human Resource Management. Vol. 20, No. 12, 2435–2453. How to cite Case for locog workforce Diversity?, Essay examples

Revollutionary and evolutionary socialist hae different ends and means free essay sample

Socialism is a broad ideology which covers a whole range of different traditions and ideals. There are disagreements within socialism are most definitely between revolutionary and evolutionary socialist in terms of means and ends. Revolutionary socialism believes in the idea that a capitalist system will not easily fall and so the only way to remove a capitalist society is for a mass up rise and overthrow of the system accepting that violence may be involved with this. From a Marxist-Leninist view the way for this to take place is for a vanguard party to help the proletariat to have some sort of revolutionary class consciousness. Revolutionary socialist reject electoral and constitutional politics as it is inextricably tied to the interest of a capitalist society and the ruling class, which is why Marxists see revolution as inevitable as they believe in the complete abolition of it. Revolutionary socialism therefore seeks the abolition of Private property and the state; this is because Marx and Engels viewed capitalism and its traditions to be a system of naked oppression and exploitation on the working masses and therefore the only way to remove capitalism and enforce socialism is by mass up rise from working class. We will write a custom essay sample on Revollutionary and evolutionary socialist hae different ends and means or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Marxists therefore believe that political power reflects class interests and that the state is a bourgeois state that is based on the capital. Reasons in which there is a need for a overthrow of the bourgeois state by political revolution is because Revolutionary Socialists understand that change by political reform and gradual change which is supported by evolutionary socialist are clearly misleading as the ideas of universal suffrage and regular and competitive elections are simply a disguise of the actual reality of unequal classes and to mislead the political energies of the working class. Hence the need for the class-conscious proletariat to overthrow the capitalist state in order to enforce socialism. However in contrast evolutionary socialists believe that means of socialism should be brought about peacefully by the ballot. An example of this is Fabian Socialists who believe in inevitability of gradualism, which means that the working class would use the means of political democracy to empower them and therefore use voting to bring a Socialist Party into power. Fabian Socialists therefore take the liberals view on the state rather than the Marxist, so the state should be neutral authority rather than an agent of class oppression. They also believe that through education and a combination of political action that the elite of the capitalist society can be converted to socialism this way, essentially for them is the most easiest way to achieve socialism in the most peaceful manner. the use of the ballot would therefore develop an evolutionary outgrowth of capitalism. The inevitability of gradualism is supported by evolutionary socialists as extension of franchise would eventually lead to universal adult suffrage which will then lead on to political equality. if political equality is apparent, then in practice it will work in the interest of the majority. so evolutionary socialists believe political democracy would go in the hands of the working class as within any industrial society, the proletariat would be the majority. Therefore, as human nature seen by socialist is ultimately altruistic, they will inevitably be drawn towards social political parties which offer social justice. this will then guarantee the success of socialist parties numerically. once in power the party will then be able to legitimately create changes within society towards socialism and so achieving socialism peacefully and therefore making it inevitable. There are also disagreements with the terms of ends in socialism between revolutionary and evolutionary socialists. As seen, revolutionary socialism seeks to abolish capitalism and seek to replace it with a classless and stateless society which essentially the Marxist utopia; they also seek a social system based on common ownership. Revolution socialists believe private property should be removed as they believe that the origins of competition and inequality come from private property, and so they seek to remove private property as it is seen as unjust because wealth is produces as a collective effort of humans and so should not be owned by individuals. Common ownership as a terms of ends also emphasises on the fact that private property is morally corrupting and it fosters conflict in society ie. between owners and workers, or simply rich and poor. Therefore Fundamentalist socialists seek to abolish capitalism and replace it with a qualitatively different kind of society based on common ownership. Whereas, the evolutionary socialist seek to attain socialism through a parliamentary route and evidently showing the clear disagreement between evolutionary and  revolutionary socialists as they have very different ways to achieve socialism and the type of socialism that will be enforced as evolutionary socialists believe in a few types of ends ranging from the abolition of capitalism, to taming it through welfare state, wealth and progressive taxation which is definitely opposed by revolutionary socialists. Essentially they moderately critique capitalism as they only want to reform and reduce the economic inequalities and increase social justice. this has led to the redefinition of socialism in terms of distributive equality rather than common ownership. however there has been an exception within socialism with Fundamentalist democrats as they want to remove capitalism through the parliamentary route, however there has not been any demonstration of this type of ideology.