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Enterprise isk Management
The difference between enterprise risk management and traditional risk management
Traditional risk management focuses on pure risks. In this context, pure risks are defined as risks involving losses or no losses. The condition of a pure risk does not allow for a favorable outcome than the current situation. Owning a home is a typical example of a pure risk. The home might be hit by an earthquake, burn down or be infected by insects. If none of these happens, then the owner will not be in a position for losses (Damodaran, 2008).
Traditional risk management focuses on pure risks because of various reasons. People who worked in the insurance field developed and taught the concept of risk management. The focus tends to be on risks, which insurers could be willing write. The job duties of some risk managers are limited to purchasing insurance as many other options…
Damodaran, A. (2008). Strategic risk taking: A framework for risk management. Upper Saddle River, N.J: Wharton School Pub.
Tonello, M., & Conference Board. (2007). Emerging governance practices in enterprise risk management. New York, N.Y: Conference Board.
Enterprise isk Management Model
This model of risk management is predicated as a measure of increasing an organizations opportunity to attain its strategy with full appreciation of the risks involved. The model considers the potential of an organization's set objectives being met as well as the stakeholder value. In the model, a broader perspective of risks involved in the chosen strategies, the likely areas to be affected and the probable countermeasures are considered Abrahams C., Von Kanel J., Muller S., Pfitzmann B., & uschuka T.S., 2007.
The model is touted to be holistic in the approach of considering that current effect will have an impact in the future.
The model advanced by Beasley, Frigo and Litman is based on the need to consider risks involved in strategic planning and coming up with measures to resolve them. It is seen that the process of strategic planning bears an impact on attainment…
Abrahams C., Von Kanel J., Muller S., Pfitzmann B., & Ruschuka T.S. (2007). Optimized Enterprise Management. IBM Systems Journal, 46, 219-234.
Beasley M.S., Frigo M.L., & Litman J. (2007). "strategic risk:" Creating and protecting value. Strategic Finance, 88(24), 31-53.
Butler, M., Kraft A., & Weiss I.S. (2007). The effect of reporting frequency on the timeliness of earnings: The cases of voluntary and mandatory interim reports. Journal of Accounting and Economics, 53, 181-217.
McCarthy M.P., & Flynn T.P. (2004). Risk from the CEO and Board perspective. New York: McGraw-Hill.
Enterprise isk Management
Alumina, Inc., henceforth being referred to as AI, is an aluminum-based company. AI is at the center of focus in the Business egulation Simulation that was studied for the purpose of this paper. This paper will identify a significant tort that was committed by AI in regard to the legal issues and their corresponding principles as drawn from the simulation (Harb, 2008).
Negligence is the greatest tort committed by AI in the legal issues realized from the simulation. The first and most delicate legal issue arising from negligence by AI is the threat of a destructive lawsuit being forwarded by a 38-year-old lady, Kelly Bates. The lawsuit accuses AI's continual role in polluting Lake Dira's water that ended up affecting her 10-year-old daughter by contracting leukemia. The other legal issues that AI faced were the threat of defamation regarding AI's responsible in safeguarding human welfare, which also…
Lam, J. (2003). Enterprise Risk Management: From Incentives to Controls. New York: Wiley.
Harb, T. (2008, June 17). 7 Essential Elements of ERM and the Role of Internal Audit. Retreived http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCIQF
risk management in a project from your experience or reading. What tools can be used to assist in risk management?
Enterprise risk management (ERM) essentially deals with recognizing possible risks within the operation of the enterprise, controlling these risks, preventing others, and safeguarding security of these risks.
it is the investigation of possible organizational risks that may occur, investigating possible magnitude of these possible risks, setting weights in place to control occurrence of these risk, a and evaluating to make sure that these risks, if they do occur, are dealt with in as efficacious a way as possible. Risks, too, are prioritized so that the organization can determine which risks to deal with first and which are most damaging to their organization.
Risks can be both internal and external. Examples of internal risks are the possibility of fraud or of data being hijacked. Examples of external risks, on the other…
Alexander, Carol and Sheedy, Elizabeth (2005). The Professional Risk Managers' Handbook: A Comprehensive Guide to Current Theory and Best Practices. PRMIA Publications
Mind Tools Risk Analysis
isk Management Plan for Exxon Mobil
A risk management process is a systematic application of management policies for the purpose of identifying, analyzing, evaluating and mitigating any possible risks within an organization. The following paper focuses on formulation of risk management plan for Exxon Mobil, one of the world's most renowned oil and gas companies. The risks would be identified and selected applicable to this firm and after their evaluation, a risk treatment plan would be advised.
Establish the isk Context
Identifying the Context for isk Assessment
eviewing current organizational processes
Being in the gas and power marketing department of the company, there are certain risks applicable within my area of operation. In order to clearly determine those risks, first, a comprehensive look at Exxon Mobil's organizational processes along with a SWOT analysis is presented. The firm is dedicated to create and maintain an environmental policy that would protect the…
Bastian, B.L. & Tucci, C. (2010). An empirical investigation on the effects of political risk on technology strategies of firms, presented at Summer Conference 2010, London, 2010. London: Imperial College London Business School. Retrieved from http://www2.druid.dk/conferences/viewpaper.php?id=501908&cf=43
Exxon Mobil. (n.d.). About us: How we operate. Retrieved from http://lubes.ExxonMobil.com/Lubes/about_how.aspx
Green Peace. (2011). Risks and potential impacts of oil exploration in the Arctic. Retrieved from http://www.greenpeace.org/international/Global/international/publications/climate/2011 / FinalArcticBriefing2011.pdf
Hirsch, A. (2011, June 17). Exxon Mobil accused of 'fraud' in Jacksonville gas spill trail. The Baltimore Sun. Retrieved from http://www.baltimoresun.com/news/maryland/baltimore - county/bs-md-co-exxon-trial-closing-20110617-story.html
isk Management Plan
A&D High Tech
Introduction to the Plan
Charter, Scope, Plan, and WBS
Scope of the isk Management Plan
102.2 isk Management Plan Components
112.4 Expected Monetary Value Analysis
isk Management Identification
123.1 Determine the isks
133.2 Evaluate and Access the isks
133.3 Qualitative and Quantitative Processes
143.4 Compare and Contrast Techniques
144.1 Major and Minor isks for the isk Matrix
144.2 isk Matrix Template
Corrective Action and Monitoring
155.1 Type of Corrective isk Management
155.2 Corrective Plan
155.3 Corrective Action for isks
Section 6 -- esults, Conclusion, and Follow-Up
Section 7 - eferences
Section 1 -- Introduction
Introduction to the Plan
This project involves a company named A&D High Tech which operates within the computer products industry and sells computer products, accessories, and services to consumers and small businesses. The…
Risk Management Events
In reflection of the Exxon Valdez spill, the National Transportation Safety Board and the Coast Guard would both take a direct interest in improvement regulatory considerations relating to the alertness and suitability of an oil tanker's crew. This would be in 1989 following the massive oil spill off the coast of Alaska. According to the text, "Since 1989, much effort has been made by the Coast Guard and by companies like Exxon to ensure better business process and better risk management. Both the public and private sectors added new procedures and new controls in the transporting of oil around Alaska, reducing the likelihood of a repeat incident in that region." (p. 20)
American's Express's Authorizer's Assistant would be implemented in the 1980s to create an automated way of fielding purchase authorization requests with a credit card. This would help to reduce the necessary labor to provide…
Dickstein, D.I., & Flast, R.H. (2009). No excuses: A business approach to managing operational risk. Hoboken, NJ: Wiley.
Most developed economies, however, allow the market to set exchange rates, only influencing currency values through indirect means such as the increased or reduced sale of bonds to foreign entities and individuals, or through other means of international wealth exchange. Essentially, all manipulations of exchange rates and actions based on predictions of exchange rates are focused on the forward exchange rate, or the predicted rate of exchange between two currencies at a future point in time.
The spot exchange rate, on the other hand, is the rate of exchange at the current moment in time. It is through a comparison of the spot rate and the forward rate of exchange -- inasmuch as it can be predicted with any accuracy -- that companies and businesses make decisions that affect either the exchange rate itself (in the case of some governments, notably China in the modern period), or more often make…
Christofferson, Peter F. Elements of Financial Risk Management. San Diego: Elsevier Sciences, 2003.
Comptroller of the Currency Administrator of National Banks. Interest Rate Risks. 1997. Accessed 19 March 2010. http://www.occ.treas.gov/handbook/irr.pdf
Cusatis, Patrick and Martin R. Thomas. Hedging Instruments and Risk Management. New York: McGraw Hill, 2005.
Dun & Bradstreet. Financial Risk Management. New Delhi: McGraw Hill, 2008.
isk Management in Family Owned Businesses
A family business can be simply described as "any business in which a majority of the ownership or control lies within a family, and in which two or more family members are directly involved" (Bowman-Upton, 1991). In other words, it is a multifaceted, twofold structure consisting of the family and the business meaning that the involved members are both the part of a job system and of a family system (Bowman-Upton, 1991).
Most families seek stability, intimacy, a sense of community, and belonging through the family business (Hess, 2006). On the other hand, whenever family and business are mentioned together, a majority of people think of continuous conflict, competition and contention (Crenshaw, 2005). However, "successful family businesses do not let the family destroy the business or the business destroy the family" (Hess, 2006).
The family-owned businesses are the backbone of the world financial system.…
Barrese, J., & Scordis, N. (2003). Corporate Risk Management. Review of Business, 24 (3), Retrieved August 17, 2012 from http://www.questia.com/read/1G1-111508707/corporate-risk-management
Bodine, S.W., Anthony, P., & Walker, P.L. (2001). A Road Map to Risk Management: CPAs Can Help Companies Manage Risk to Create Value. (Consulting). Journal of Accountancy, 192 (6), Retrieved August 17, 2012 from http://www.questia.com/read/1G1-80750205/a-road-map-to-risk-management-cpas-can-help-companies
Bowman-Upton, N. (1991). Transferring Management in the Family-Owned Business. Retrieved August 14, 2012 from http://archive.sba.gov/idc/groups/public/documents/sba_homepage/serv_sbp_exit.pdf
Caspar, C., Dias, A.K., & Elstrodt, H. (2010, January).The Five Attributes of Enduring Family Businesses. Retrieved August 15, 2012 from http://www.businessfamily.ca/cert_register_files/Web Downloads/McKinsey Quarterly - Jan 2010.pdf
A lack of foresight and initial risk assessment therefore resulted in the losses suffered by the company.
In the area of maintenance and risk assessment, a lack of regular spillage inspection resulted in financial, legal and environmental risks for an oil company. The oil rig was not inspected on a regular basis, which resulted in a lack of regular maintenance. Hence the damage to one of the oil containers was overlooked, and a substantial amount of spillage occurred as a result. The environment suffered considerable damage as a result, and the company lost financial resources because of the need to clean up the spillage and mitigate the environmental damage. Furthermore, the company's reputation was damaged in terms of public perception.
Also I the area of maintenance and risk assessment, a lack of adequate safety clothing resulted in injury for several workers of a construction company. Disregarding safety regulations, several workers…
Eduneering. 2007, Feb. "Understanding the Financial Risks of Regulatory Non-Conformance." www.eduneering.com/downloads/whitepapers/fr_WP_020907.pdf
HM Treasury. 2004, Oct. "The Orange Book: Management of Risk - Principles and Concepts." www.hm-treasury.gov.uk/media/FE6/60/FE66035B-BCDC-D4B3-11057A7707D2521F.pdf
Proctor, Ken. 2007. "Manage Risk, Improve Performance: Brintech's Enterprise Risk Management Guidelines. www.brintech.com/Knowledge_Center/PDF/Brintech%20White%20Paper%20Manage%20Risk%20Improve%20Performance.pdf
Statutory Instrument 1999 No. 3242. 1999. "The Management of Health and Safety at Work Regulations. http://www.opsi.gov.uk/SI/si1999/19993242.htm
A Corporate Compliance and Enterprise isk Management Plan for iordan Manufacturing
iordan Manufacturing is a wholly owned subsidiary of the Fortune 1000 company iordan Industries, and is engaged in the manufacturing of a variety of finished plastic goods and parts for use in other finished products that the company as been contracted to provide. The company has been highly successful utilizing a global network of manufacturing and distribution to maximize profitability by reducing labor costs and diversifying its product offerings, but this international exposure also places certain legal constraints and responsibilities on the company that must be accounted for in iordan Manufacturing's corporate compliance plan, which is the primary focus of the following paper.
In order to develop this corporate compliance plan, however, some background information on the company is necessary to determine organizational structure and culture, and also to develop a corporate compliance plan that is in keeping…
COSO. (2004). Enterprise risk management. Committee of Sponsoring Organizations of the Treadway Commission. Accessed 30 November 2010. http://www.idkk.gov.tr/html/themes/bumko/dosyalar/yayin-dokuman/COSOERM.pdf
EPA. (2010). Cleaning up our land, water, and air. Accessed 30 November 2010. http://www.epa.gov/oswer/cleanup/
HG. (2010). Alternative dispute resolution. HG Legal Directory. Accessed 30 November 2010. http://www.hg.org/adr.html
Lee, J. & Mansfield, E. (1996). Intellectual Property Protection and U.S. Foreign Direct Investment. The review of economics and statistics 78(2), 181-6.
Commercial & Current Trends
Commercial Risk Management
Commercial interest in risk management is on the rise. Employers wish to hire healthy employees to cut absenteeism and productivity issues. Lenders want borrowers with long, productive lives. Advertisers, marketers, and drug companies seek to tailor material to target healthcare providers and patient populations. Health insurers want to avoid high risk consumers. Educational institutions seek students with the greatest potential. lackmailers attempt to extort payments from ones with the greatest potential harm from disclosures. People dating want to obtain information on a lover to evaluate health and longevity (Hoffman, 2007).
There is a significant up trend in client losses linked to security breaches that release personal identifiable information (Kelly, 2007). With the economy in a recession, more and more consumers are unable to pay bills. These issues are causing huge losses for companies and consumers that have to pay the bills and absorb…
Faucheux, M. (2009, Nov 8). Emerging Trends in Risk Management. Retrieved from Bright Hub PM: http://www.brighthubpm.com/risk-management/55050-emerging-trends-in-risk-management/
Heineman, R. & . (n.d.). The Future of Risk Management: A Proactive Approach. Retrieved from NC State University: http://www.poole.ncsu.edu/erm/index/php/articles/entry/proactive-risk-management
Hoffman, S. & . (2007). SECURING THE HIPAA SECURITY RULE. Journal of Internet Law, 10(8), 1-16.
Kelly. (2007). Computer Crime Losses Double. Business Insurance, 4(40), 41.
Businesses are always exposed to risks of several kinds, for which risk management becomes mandatory. To keep the corporation safe, an appropriate risk management program is obligatory even in times of uncertainty. Risk management helps in strengthening communication between the higher authorities and low line workers. The reports and analysis would be shared vertically and horizontally so that risk mitigation becomes easier through a smooth communication flow. It is conducive to a healthy organizational culture where trust is boosted and positivity is encouraged. In the absence of this program, the business would be unable to define its objectives or even meet its goals. This paper aims at designing a risk management program in which traditional and financial enterprise risk management would be covered. Further sections of the paper would discuss how those identified risks affect the organizational goals to get a clear picture of the business's existence and prosperity in…
Akhtar, S., Xicang, Z. & Iqbal, S. (2017). Impact of brand image on the profitability of the firm, analysis of Nestle Company Pakistan. Review of Public Administration and Management, 5(3). DOI: 10.4172/2315-7844.1000230
Barillon, T. & Robles, A. (2020, July 1). How growing businesses should tackle cybersecurity challenges. Security Intelligence. Retrieved from https://securityintelligence.com/posts/growing-business-tackle-cybersecurity-challenges/
Chen, J. (2020, September 4). Financial risk. Investopedia. Retrieved from https://www.investopedia.com/terms/f/financialrisk.asp
Cook, K.D. (2017). Effective cybersecurity strategies for small businesses [Doctoral dissertation, Walden University]. Walden Dissertations and Doctoral Studies Collection.
Drzik, J.P. (2016, January 14). How can businesses survive in a world of unrest? World Economic Forum. Retrieved from https://www.weforum.org/agenda/2016/01/a-world-of-simmering-unrest/
Eccles, R.G., Newquist, S.C. & Schatz, R. (2007, February). Reputation and its risks. Harvard Business Review. Retrieved from https://hbr.org/2007/02/reputation-and-its-risks
Eceiza, J., Kristensen, I., Krivin, D., Samandari, H. & White, O. (2020, April 13). The future of operational risk management in financial services. McKinsey. Retrieved from https://www.mckinsey.com/business-functions/risk/our-insights/the-future-of-operational-risk-management-in-financial-services
Effiong, D.A. & Enya, E.F. (2020). Liquidity risk management and financial performance: Are consumer goods companies involved? International Journal of Recent Technology and Engineering, 9(1), 580-589. DOI:10.35940/ijrte.A1692.059120
Implementing an Enterprise Database Management System
Enterprise Database Management Systems (DBMS) are the catalyst and foundation of many of the enterprise software applications, platforms and enterprise systems in place today. Having progressed from being a relational database in the past to often being used as the foundation for complex process workflow and transaction systems (Casati, Castano, Fugini, 2001) the DBMS architecture has taken on a central role in enterprise computing. The intent of this paper is to analyze the DBMS implementation critical success factors in enterprises, in addition to analyzing the advantages and disadvantages of enterprise DBMS systems and platforms.
Analysis of DBMS Implementation in the Enterprise
In many respects the critical success factors of Enterprise esource Planning (EP) systems reflect or mirror those for DBMS systems, as the latter systems are often platforms for EP applications (Lungu, Velicanu, Botha, 2009). When DBMS systems are implemented, it requires…
Fabio Casati, Silvana Castano, MariaGrazia Fugini. (2001). Managing Workflow Authorization Constraints through Active Database Technology. Information Systems Frontiers: Special Issue: Information Systems Frontiers on Workflow, 3(3), 319.
Tim Gouldson. (2001, January). CRM drives need for bigger, better data warehouse. Computing Canada, 27(1), 15.
Lungu, I., Velicanu, M., & Botha, I.. (2009). Database Systems - Present and Future. Informatica Economica, 13(1), 84-99.
Mercioiu, N., & Vladucu, V.. (2010). Improving SQL Server Performance. Informatica Economica, 14(2), 55-60.
In terms of the management of the risk, this can be completed through either one or more of the following techniques: (1) mitigation of the risks; (2) transfer of the risk from one unit to the other, one project to the other and so on; (3) the acceptance of the risk; (4) the avoidance of the risks; (5) the communication of the risks and the search for risk management strategies, and last, (6) the implementation of the risk management strategies (Elky, 2006).
Once the company has decided to accept and mitigate the risk, it has several solutions to managing the risk. Steve Elky at the SANS Institute points out that there are at least five methods for risk management, namely the NIST methodology (National Institute of Standards and Technology), the OCTAVE methodology, the FAP methodology, the COBA methodology and the isk Watch methodology. The challenge at this level is for…
Collier, P.M., Agyei-Ampomah, S., 2009, CIMA official learning system performance strategy, 6th edition, Elsevier
DuBrin, A.J., 2011, Essentials of management, Cengage Learning
Elky, S., 2006, An introduction to information system risk management, SANS Institute, http://www.sans.org/reading_room/whitepapers/auditing/introduction-information-system-risk-management_1204 last accessed on July 10, 2012
Cobit 5: a business framework for the governance and management of enterprise IT, ISACA http://www.isaca.org/COBIT/Pages/default.aspx last accessed on July 10, 2012
The video game industry forms a significant part of the leading companies worldwide currently. The huge diffusion of the internet and associated information technologies over the recent years has raised the need of increased security. Advancement in technology consequently leads to the advancement of video games as well as associated security risks. Some of the common threats and vulnerabilities involving this industry include: misuse by human, hacking, fraud, virus attacks, among others. Such factors can facilitate adversities such as information loss and alteration, and unauthorized access. This paper identifies and assesses potential threats, malicious attacks, and vulnerabilities expected by the organization. It also gives the control procedures to mitigate the mentioned risks and vulnerabilities.
The Threats and Vulnerabilities
There are a number of dominant security threats involving technology and information that affect the organization. Such threats poise a serious disruption to the business continuity planning (BCP) cycle of…
Syed, R and Morh, S. (2011). IT Security Issues within the Video Game Industry. The International Journal of Computer Science and Information Technology. Vol. 3, No. 5.
Audit Management DQ
Consider the governance of the company owning ana Plaza and describe the regional expectations as well as best practice in this area and the benefits that adoption brings. Evaluate the governance of ana Plaza during and after the collapse of the building against these and explain how this helped or hindered ana Plaza.
The management of ana Plaza failed to ensure employee safety. In such a case, workers and suppliers equate the weakest points in relation to conditions of order and input dependency, footloose sourcing practices, and hand-to-mouth contracting. One of the incidents that happened in 2013 at Sadia Garments Ltd. saw new unionized workers facing aggressive campaigns on factory management (Ayres, 2014). Workers faced threats of violence while lead organizers were sent death threats. Later, one factory supervisor attacked the Union General Secretary for Sadia Garments with a pair of scissors while demanding for the resignation…
Ahmed S. & Lakhani, L. (2013). Bangladesh Building Collapse: An End to Recovery Efforts, a Promise of a New Start. CNN. Retrieved November 10, 2014 from http://www.cnn.com/2013/05/14/world/asia/bangladesh-building-collapse-aftermath/index.html?iref=allsearch
Ayres, A. (2014). A Guide to the Rana Plaza Tragedy, And Its Implications, In Bangladesh. Forbes. Retrieved November 10, 2014 from http://www.forbes.com/sites/alyssaayres/2014/04/24/a-guide-to-the-rana-plaza-tragedy-and-its-implications-in-bangladesh/
BBC Bengali Service (2013). Bangladesh factory collapse toll passes 1,000. BBC Bengali Service. Retrieved November 10, 2014 from http://www.bbc.com/news/world-asia-22476774
Benettongroup.com (2014). Benetton Group Backs an Initiative In Support Of the Victims of Rana Plaza and Their Families. Benettongroup.com. Retrieved November 10, 2014 from http://www.benettongroup.com/archive/press-release/benetton-group-backs-initiative-support-victims-rana-plaza-and-their-families
The other criteria to be used in the selection of the institutions of higher learning are their length of existence and size.
Data collection plans
Data is to be collected using questionnaires and triangulation is to be used in the process. This means that both qualitative and quantitative techniques of data collection are to be used in order to increase the chances of getting valid results (Jick, 1979).
The following sources of information will be consulted;
Academic journals such as Library Review, Update, Library Trend and Program
Online databases and gateways such as BIDS, OCLC, BUBL, OMNI, ProQuests, Academic Complete and EBSCOHOST
Books that are relevant to the research and trends in the sector of higher education
Quantitative data collection
Quantitative data is to be collected using questionnaires that are to be administered to the respondents in a six-month period. The questionnaires are appropriate instruments for…
Beach v. Univ. Of Utah (1986) 726 P.2d 413, 415 (September 26, 1986)
See Beach v. Univ. Of Utah  726 P.2d 413, 415 (Utah 1986)
Managing the Effectiveness of the Audit Process
Mission and Objectives of the International Audit Department
The IAD stakeholder power-interest grid
The Audit Process
Objectives, Scope and Approach of the Research
Purpose and Mandate
Sustaining People Excellence
Tools and Technology
Infrastructure and Operations
Japan Tobacco International (JTI) is an international tobacco business that is operated by Japan Tobacco Inc. Japan Tobacco Inc. is the third largest player in the international tobacco industry with a market capitalization of 32 billion USD and a market share of 11%. JTI was established in the year 1999 when Japan Tobacco Inc. purchased the operations of United States multinational R.J. Reynolds, for 8 billion USD.
The Internal Audit Department (IAD) of the organization is accountable to the board of directors. The department is headed by the Global Internal Audit Vice President. He took his position in…
Anupindi, Ravi. 2006. Managing Business Process Flows. Upper Saddle River, NJ: Pearson/Prentice Hall.
Leseure, Michel. 2010. Key Concepts in Operations Management. Los Angeles: SAGE.
Mahadevan, B. 2009. Operations Management. New Delhi: Published by Dorling Kindersley (India), licensees of Pearson Education in South Asia.
Slack, Nigel. 2009. Operations and Process Management. Harlow, England: Prentice Hall/Financial Times.
Innovation & isk Management of an iPod Touch
Idea Screening for iPod Touch
SWOT Analysis of Apple's iPod
Business Analysis of Apple
Commercialization of iPod Touch
New Product Pricing of Apple's iPod Touch
It is clear that today's business setting is quickly changing, in order to be able to survive and keep up with other businesses. Being competitive is key in this type of environment; an organization would definitely benefit from recognizing that innovation of the product is one of the significant to the concepts when it comes to surviving and staying competitive (Kalchschmidt, 2012)made the point in their article in regards to British and American companies that beyond 50% of the sales in fruitful organizations were coming from products that were new and that the percentage was somewhere around 60% in the most prosperous overall business. The achievement of business project is dependent upon various factors…
Anon., 2014. The Future of Marketing Technology. [Online]
Available at: http://www.ipodtopctransfer.com / [Accessed 14 July 2015].
Astrand K. And Neij, . L., 2011. An assessment of governmental wind power programmes in Sweden-using a systems approach. Energy Policy, 34(3), p. 277-296.
Bryman, A. & B.E., 2010. Foretagsekonomiska forskningsmetoder. Studentlitteratur: Lund.
. Research Design Rationale
1. Question format: In order to allow the research study to become embedded in the field of economics, the research question will use an applied question format. The purpose of the study is to develop a predictive method regarding player choices in the Prisoner's dilemma. It will explore the association of risk and cooperation or defection in the Prisoner's
2. Research design: The research will use a deductive approach where the theory will be presented and tested through the methodology. The research will use quantitative research methods, which are suited for research where the information can be reduced to a numerical format. This is the case in the proposed study as both risk tolerance and the decisions made in the Prisoner's Dilemma can be reduced to numerical data and standard statistical methods applied.
III. Data/Information from Previous research
A. Literature Review
The literature review for…
Agarwal, J. & Feils, D. (2007). Political Risk and the Internationalization of Firms: an Empirical
Study of Canadian-based Export and Fdi Firms. Canadian Journal of Administrative
Sciences. 24 (3): 165+. Questia Database.
Ansell, C. & Gash, a. (2008). Collaborative Governance in Theory and Practice. Journal of Public Administration Research and Theory. 18 (4): 543+. Questia Database.
isk Management: Disaster ecovery
In essence, disaster recovery has got to do with protecting an organization against events of a negative nature and their effects/impact. Such events include, but they are not limited to, failure of equipment, serious cyber attacks, and natural disasters such as hurricanes and earthquakes. All these put the operations of the organization at risk. This text concerns itself with practical risk management. In so doing, it will, amongst other things, address the need for disaster recovery and highlight the key components of a disaster recovery plan.
The Need for Disaster isk Management
The relevance of disaster risk management cannot be overstated. This is particularly the case given that disasters put the continued operations of an enterprise at risk. It is important to note that in the past, many businesses have had to contend with huge losses when disasters strike. This is more so the case when…
Doig, J. (1997). Disaster Recovery for Archives, Libraries and Records Management Systems in Australia and New Zealand. Wagga, NSW: Center for Information Studies.
EC-Council. (2010). Disaster Recovery. Clifton Part, NY: Cengage Learning.
Rodriguez, R., Quarantelli, E.L. & Dynes, R. (Eds.). (2006). Handbook of Disaster Research. New York, NY: Springer Science & Business Media.
Snedaker, S. (2013). Business Continuity and Disaster Recovery Planning for IT Professionals (2nd ed.). Waltham, MA: Elsevier.
isk, isk Management Strategies, and Benefits in Cloud Computing
SEVICE AND DEPLOYMENT MODELS
BENEFITS OF CLOUD COMPUTING
CLOUD COMPUTING ISKS
ISK Management STATEGIES
Centralized Information Governance
Other Organization-Level Measures
Individual-Level Security Measures
Cloud computing model
Cloud computing service and deployment models
ISO/IEC broad categories
The emergence of cloud computing has tremendously transformed the world of computing. Today, individuals, organizations, and government agencies can access computing resources provided by a vendor on an on-demand basis. This provides convenience, flexibility, and substantial cost savings. It also provides a more efficient way of planning disaster recovery and overcoming fluctuations in the demand for computing resources. In spite of the benefits it offers, cloud computing presents significant security concerns, which users must clearly understand and put strong measures in place to address them. Users are particularly…
Abiodun, A. (2013). A framework for implementation of risk management system in third party managed cloud. Journal of Information Technology & Economic Development, 4(2), 19-30.
Ahmed, N., & Abraham, A. (2013). Modeling security risk factors in a cloud computing environment. Journal of Information Assurance and Security, 8, 279-289.
Alali, F., & Yeh, C. (2012). Cloud computing: overview and risk analysis. Journal of Information Systems, 26(2), 13-33.
Alijani, G., Fulk, H., Omar, A., & Tulsi, R. (2014). Cloud computing effects on small business. Entrepreneurial Executive, 19, 35-45.
Chosen Business: City estauant
Befoe discussing what the coe activities the company undetakes to achieve its opeational objectives, it is vital to highlight these opeational objectives. The following section gives a bief oveview of these objectives:
The stategic objective of Taste Inn is to become the most liked band among its customes, a financially and opeationally stong company in the eyes of its investos, and a competitive paticipant in the food and hospitality industy of Austalia. The majo opeational objectives of the company include:
A stong custome base:
The most impotant opeational objective of the company is to stengthen its custome base by attacting moe and moe customes towads its poduct offeings. It aims to build a stong public image in the eyes of its customes and the society in which it opeates.
Become a financially and opeationally stong copoation:
The second most impotant…
Introduce products with innovative taste and new ingredients, use extensive marketing campaigns
Introduce products with innovative taste and new ingredients,
isk esillience" concepts Operations Process Management examine statement: Preventive maintenance viewed process maintaining "health" a machine. Using health care analogy, explain differences tradeoffs breakdown maintenance, preventive maintenance total productive maintenance, detailed case study required apply theory model concept.
The importance of preventive maintenance
The emergent challenges facing economic agents have created a context in which the machineries and the equipments are no longer perceived as the primary source of income, nor as the operational focus of the economic agents. Today, entrepreneurs strive to attain their organizational goals through the satisfaction of the customer needs, through the motivation of the employees, through the pleasing of the community or through the creation of value for the shareowners.
In such a context, the emphasis placed on the purchase, replacement and functioning of the organizational machineries has decreased. But much like a paradox, despite the decreased investments in machineries, the company and…
Roberts, J., 1997, Total productive maintenance, New Mexico State University, http://engr.nmsu.edu/~etti/fall97/manufacturing/tpm2.html last accessed on May 11, 2011
1999, MRC Bearings' TPM journey: from totally painted machines to taking pride in our machines, Maintenance Resources, http://www.maintenanceresources.com/referencelibrary/ezine/tpmcasestudy.htm last accessed on May 11, 2011
Business resilience, Janellis Business Consulting Services, http://www.janellis.com.au/html/s02_article/article_view.asp?art_id=207&nav_cat_id=204&nav_top_id=77 last accessed on May 11, 2011
Preventive maintenance, Reliability Engineering Resources, http://www.weibull.com/SystemRelWeb/preventive_maintenance.htm last accessed on May 11, 2011
CEMEX:Strategic isk Management
CEMEX: Strategic isk Management
CEMEX is a leading producer of cement products. Headquartered in Monterrey, Mexico, CEMEX serves customers around the globe. Before the 1970s, CEMEX was a sleepy company, limited in scope to the domestic market, engaged in cement, mining, tourism and petrochemicals. ising through the ranks of the company his grandfather founded in 1906, CEO Lorenzo Zambrano focused the company on the world market for cement after divesting the non-core businesses. (Spieth, 2005)
isk Management as an Operational Competence
The single biggest risk to a company with a cement-only strategy is the requirement to commit substantial capital to factory-level plant and equipment, in the face of uncertain and fluctuating demand. This risk is heightened by the commoditization of the products and services which results in prices falling to the level of marginal cost during times when supply exceeds demand. Long-term, the natural ebb and flow…
Millman, Joel, December 11, 2008, Hard Times for Cement Man. Retrieved March 7, 2011 from http://online.wsj.com/article/SB122894691555195919.html
Lessard, Donald R. & Lucea, Rafel, May 2008, Embracing Risk as a Core Competence: The Case of CEMEX, MIT Sloan School and George Washington University.
Spieth, Scott, December 12, 2005, Cementing the Future: Hedging Foreign Currency Risk at CEMEX. Retrieved March 7, 2011 from http://people.hbs.edu/mdesai/IFM05/Spieth
Commercial aviation, therefore, warrants the highest attention to risk management, precisely by virtue of the obvious risks to life and limb first, and devastating financial consequences of materialized risks associated with commercial aviation operations.
Designing and implementing a comprehensive risk management program entails specific components to identify potential risks, evaluate their likelihood of occurrence, the magnitude of harm associated with them, and the interrelationship of their statistical likelihood and extent of potential harm they represent. Program implementation is, in many ways, merely the first step in a long-term comprehensive safety strategy for effective and economical risk mitigation, precisely because the complexities of risk management in commercial aviation.
Consequently, post-implementation procedural monitoring and regular follow-up are necessary to ensure proper redress of any operational oversights and inadequacies, especially those that come to light only retrospectively after initial program implementation. In this regard, statutory requirements are merely the first level of risk…
Accessed October 27, 2007, at http://www.faa.gov/library/manuals/aviation/risk_management/
U.S. Department of Agriculture Forest Service (2005).
Aviation Safety Center. Risk Management; Accessed October 27, 2007, at: http://www.fs.fed.us/fire/av_safety/risk_mgt/index.html
In addition, a series of joint ventures in which West German steel firms joined with East German firms and Krupp, Klockner, and Thyssen of Germany was pursuing other developmental initiatives in eastern Europe as well. Likewise, Arbed of Luxemburg was involved in steelmaking facilities in the former East Germany. According to Mangum et al., "The rising market for improved galvanizing for automobiles, appliances, canning, and other uses is producing a rash of joint ventures throughout the world. Some of these are internal to various countries and others involve international partners" (p. 74).
As a result, nearly 30% of the world's steel supply is now produced by plants belonging to companies that did not exist just 3 decades ago (Ahlberg, Pitkanen & Storsch 1999). As these authors point out, "Such upstarts have entered a global market that since 1980 has grown by less than 1% a year -- an average combining…
Ahlberg, J., A. Pitkanen and L.L. Schorsch. 1999. "Forging a New Era for Steel." The McKinsey
Altunisik, M.B. And O. Tur. 2004. Turkey: Challenges of Continuity and Change. New York:
When combining the two, future market trends can be more accurately predicted by basic it upon existing trends. In this way, the risk factors associated with both areas of R&D are significantly reduced.
The most prominent risks associated with R&D, as identified above, include market research and competition. In addition to risks associated with market trends, risks posed by competitors can also be mitigated with a combination of strategies. The three remaining categories of R&D include long-term, short-term, and intermediate-term R&D.
Long-term R&D can be associated with the offensive R&D strategy, as it entails a projection of market needs in the long-term. This means that products and services are developed on the basis of prediction rather than fact. The most important reason for this is to rise above the competition. The risk associated with this is the fact that competitors may develop long-term products that exceed the company's projects, thus…
The organizations are usually run by a core group, which divides the different responsibilities of an operation (e.g. spamming, web design, data collection) among the members. The members run their own outer networks to fulfill those responsibilities -- rarely even having contact with each other online. The decentralized structure of the internet, as well as the high levels of anonymity it provides makes it difficult for law enforcement agencies to locate cybercriminal groups. A group could have networks in a myriad of different countries, whilst using servers based in numerous different countries and jurisdictions. Furthermore, many national jurisdictions lack the legislative framework required to properly prosecute online crime." (Collins, 2012)
These insights are illustrating how the lack of self-control is creating a situation where more criminals or organizations are turning to cyber crime. What makes the situation worse; is they can work anonymously and be able to conduct these activities…
Casey, E. (2011). Digital Evidence and Computer Crime. London: Academic.
Collins, a. (2012). Contemporary Security Studies. Oxford: Oxford University Press.
Gregg, M. (2010). Hacker Techniques, Tools and Incident Handling. Sudbury, MA: Jones and Bartlett.
Gryzbowski, K. (2012). An Examination of Cyber Crime and Cyber Crime Research. (Unpublished doctoral dissertation). Arizona State University, Scottsdale.
isk Assessment and Management
isk management refers to s strategies adopted by an organization in order to protect itself from the foreseeable and unforeseeable dangers related to its operations. This is possible when a proper assessment of the risks and their causes is done. Uncertainties in a business may come from the change in government policy, shift in tastes and preferences, and fall in demand in the market (McClure, 2011). This study identifies ways in which business operations can be improved through proper risk assessment and management strategies.
Ways to assess risk
isk assessment in a business requires the use of several metrics and measures such as market and performance analysis in its operations (Adams, 1999). In the present times in most businesses, the role of management much includes risk management. It also includes the making of plans to incorporate all the stakeholders in the firm for the purposes of…
Adams, J. (1999). Risky Business: The Management of Risk and Uncertainty. London: Adam Smith Institute (Electronic Resource).
Borodzicz, E.P. (2005). Risk, Crisis, and Security Management. New York: Wiley
Briggs, R., & Edwards, C. (2006). The Business Of Resilience: Corporate Security For The 21st Century. Demos (Organization: London, England) 2006 (Electronic Resource)
Hood, C., & Jones, K.C. (1996). Accident and Design: Contemporary Debates In Risk Management. London: Routledge
Audit in isk Management
Agelova, B., Koleva, B. (2015). The role of internal audit in risk management system of the companies. Economic Development, 3: 1-10.
This study shows that the purpose of the internal audit is increasingly oriented towards mitigating risk so that the firm in question can reduce uncertainty and exercise adequate, effective and appropriate decision making processes. The focus of the study is, therefore, on the internal audit aspect of a company's risk management. The purpose of the study is situated in evaluation research -- here, that which is evaluated is the "contribution of the internal audit in the management of risks in the Macedonian enterprises" (Angelova, Koleva, 2015, p. 1).
The sample used for this included the managers of 30 Macedonian enterprises along with 48 internal auditors in the epublic of Macedonia. The survey method was used for gathering data and the finding of the study was…
Agelova, B., Koleva, B. (2015). The role of internal audit in risk management system of the companies. Economic Development, 3: 1-10.
The performance of each team member depends on the performance of all others, this being a team project. Constraints include time and financial resources; as such improvement requires permanent improvement effort.
isk Management. No risk has been identified related to the project's completion.
Monitoring and Controlling Mechanisms. The data analysts will develop a metric system to measure each member's performance on a weekly basis. This weekly performance will be submitted to the project manager for potential adjustments.
V. Operations management plan
Operations Strategy. An easy way to understand the meaning of operations strategy is to break the word into the two separate words: operations and strategy - these words being the opposite of each other (Slack & Lewis, 2002). 'Operations' is about the functions and procedures regarding the day-to-day processes, while 'strategy' is about the direction and scope of an organisation over a long period of time. The operations strategy…
Aberdeen Group. 2008. Operational KPIs and Performance Management -- Are Your Daily Decisions Based on Fact?, http://www.aberdeen.com/
Cooper, M. & Lambert D. 2000. Issues in Supply Chain Management. Industrial Marketing Management, vol. 29: pp. 65-83.
Johnson, J. C. And Wood, D.F. 1996. Contemporary Logistics, N.J.: Prentice Hall Upper Saddle Creek.
Keah C.R.K. And Handfield, R.B. 1998 .Supply Chain Management: Supplier Performance and Firm Performance. International Journal of Purchasing and Materials Management: pp.2-9.
isk and Insurance Management
isk is believed to be a newly coined word of assurance (for example, Ewald, 1991: 198). One of the broadly shared suppositions regarding insurance is that it spins around an instrumental concept of risk. Possibility and the amount of influence make up a technical concept of hazard/risk and hazard administration is chiefly worried about reviewing these possibilities and influences (for an overview see Gratt, 1987). For instance, external profits of financial or political occurrences lay down thresholds for the availability of associated risk guesstimates or reckonings (Huber, 2002).
So, the range of the risk groups cannot be clarified by risk judgment single-handedly; peripheral circumstances that could be political, financial or inclusive of image, arts and manners, are also required to be taken into account. Therefore, if risks are not be present, per se, but are deliberately selected, we can go a step ahead and presume them…
Douglas, M. And Wildavsky, A. (1982) Risk and Culture. An Essay on the Selection of Technical and Environmental Dangers. Berkeley: University of California Press.
Evers, A. And Nowotny, H. (1987) Uber den Umgang mit Unsicherheit. Die Entdeckung der Gestaltbarkeit von Gesellschaft. Frankfurt / Main: Suhrkamp.
Ewald, F. (1991) 'Insurance and Risk' in Burchell, G., Gordon, C. And Miller, P. (eds.) The Foucault Effect: studies in governmentality . London: Harvester Wheatsheaf.
Gratt, L.B. (1987) 'Risk Analysis or Risk Assessment: a proposal for consistent definitions' in Covello, V. And Lave, L. (eds.) Uncertainty in Risk Assessment, Risk Management and Decision Making, Advances in Risk Analysis (4). New York: Plenum Press.
The vision Oracle has is one of unifying all of their enterprise applications into their Fusion architecture and creating a single unifying Service oriented Architecture (SOA) was first announced in 2006 (Krill, 13). Since that time Oracle has continually strived to create an SOA in Fusion that would appeal to its corporate customers. The proposed Fusion SOA platform has been designed to be robust and scalable enough to encompass enterprise-level applications including Enterprise esource Planning (EP) applications while also being flexible enough to provide for individualized application development. There are critics of SOA in general and Fusion specifically, with industry analysts considering it too difficult to create a process-centric model that allows for pervasive, in-depth applications necessary for mission-critical business while at the same time allowing for significant scalability (Handy, 2005). Despite these concerns however Fusion continues to gain market acceptance and provide Oracle with a path to the fulfillment…
Alex Handy. 2005. Oracle Fusion: The 'Frankenstein' of SOA? Software Development Times, October 15, 6
Paul Krill. 2006. Oracle Does SOA. InfoWorld, August 14, 11-13
They were just so intense, so focused, so transaction-driven, there literally wasn't time for people to put ideas out and discuss and debate them."
These constraints to effective management oversight and innovation were further exacerbated when the company went private in 2001. According to Stopper, "ARAMARK went from a leveraged buyout situation in 1984, with only some 50 people having equity in the company, to an initial public offering (IPO) in 2001 with 97% ownership by employees. It was a huge cultural shift. Many employees incurred debt in order to have ownership in the company. In his view, HR's power and influence came from performance and creating value, not from advancing or acceding to personal agendas."
To their credit, though, Hayes reports that the company finally took action to remedy this situation by creating an action project team to assess the potential threats involved in retaining the status quo and…
About ARAMARK." (2007). ARAMARK Corporation. [Online]. Available: http://www.aramark.com/MainLanding.aspx?PostingID=336&ChannelID=187 .
Alleyne, Sonia (2007, July). "40 Best Companies for Diversity: In Our Third Annual Survey, We Focus on Supplier Diversity and Senior Management Representation-How Much Companies Spend with Black Suppliers and Who They Let into the Corporate Suite." Black Enterprise 37(12): 106
Caddell, Cathy L. (2004, October). "Taste of Chicago." Corrections Today 66(6): 46
Goldberg, Karen (1996, July 18). "How to Feed 10,800 Athletes." The Washington Times 13.
It is essential fo company manages, safety pactitiones and manufactuing enginees to be infomed of and gain sufficient knowledge about cuent eseach developments in this field and implement safety stategies as well as systems to minimize occupational health and safety isks. (Bie; Kuneuthe; Phimiste, 103); (Stellman, 17)
Active and pocedual isk management stategies ae impotant elements in any manufactuing unit. Active isk management efes to implementing intelocks, alams and mitigation systems that can detect a hazad and immediately shut down o set the system into a safe position. Pocedual isk management efes to implementing safety checklists, opeato taining, standad opeating pocedues and seveal such people dependent management systems. Ceating "inheently safe design stategies" in a manufactuing unit would involve fou key stategies. These ae minimizing, modeating, substituting and simplifying systems. (Bie; Kuneuthe; Phimiste, 103); (Stellman, 17)
Despite all safety guidelines, accidents still occu mainly as a esult of human complacence…
references and further reading you must purchase this article.
Ellacott, Michael V; Reed, Sue. Review: Development of Robust Indoor Air Quality Models for the Estimation of Volatile Organic Compound Concentrations in Buildings. Indoor and Built Environment, vol. 8, no. 6, 1999. pp: 345-360.
Falzon, Pierre. Enabling safety: issues in design and continuous design. Cognition, Technology & Work, vol.10, no. 1, Jan 2008, pp: 7-14.
Fleming, Mary Louise; Parker, Elizabeth. 2007. Health promotion: principles and practice in the Australian context. Ligare Book Printer, Sydney.
International Labour Organization. Occupational safety & health. 2009. Retrieved 12 November, 2009 from http://www.ilo.org/public/english/dialogue/sector/sectors/mee/safety.htm
Managing Organizational Change
It is reasonable to suggest that companies of all types and sizes have integrated information technology systems of some sort to help them manage their businesses and achieve a competitive advantage in recent years. Because computer systems tend to become obsolete rapidly as Moore's Law continues to hold true, many companies have accumulated a mish-mash of various computer types and capabilities that may not operate efficiently in a networked environment. When these legacy systems are replaced by a standardized array of compatible computers, the transition may introduce a number of challenges and obstacles that can adversely affect the company's ability to remain agile and responsive to internal and external customer needs. To determine how the transition from an older legacy system to an improved set of computers can be achieved in an efficient fashion, the key stakeholders who are involved in the process, and the potential lessons…
Johnson, J. & Andrews, M. (2003, July). New markets, old technology: a strategic mismatch.
Risk Management, 50(7), 48.
McGinn, D., Kudyba, S. & Diwan, R. (2002). Information technology, corporate productivity and the new economy. Westport, CT: Quorum Books.
Nakata, C., Zhu, Z. & Kraimer, M.L. (2008). The complex contribution of information technology capability to business performance. Journal of Managerial Issues, 20(4), 485-
Small usiness' Need for a CPA
One of the critical investments a small business can make to mitigate loss and risk is hiring a CPA and putting that CPA on the 'management team.' As Wells notes in his groundbreaking research, "Denise, a bookkeeper for a small trucking firm in irmingham, Alabama, wishes she had never heard of Ralph Summerford, CPA. ecause of his thoroughness, Denise is facing several years in prison for embezzling $550,000 from her employer. At least she will look good standing before the sentencing judge: Denise spent a great deal of her illegal loot on head-to-toe cosmetic surgery. She blew the rest on a shiny new Lexus, luxury vacations, clothing and jewelry. And, of course, Denise had to have a big house to store all of her finery." (Wells, 2003)
Surprisingly, it was not at all the fancy standard of living that made her employer suspicious. "The…
Wells, Joseph. 2003. Protect small business: small companies without adequate internal controls need CPAs to help them minimize fraud risk. Journal of Accountancy.
Small Business Administration. 2005. www.sba.gov.
Federal Reserve Bank. 2004. www.federalreserve.gov.
AICPA. 2005. At www.aicpa.org/antifraud/training/homepage/htm.
Phishing Spea Phishing and Phaming
The following is intended to povide a vey bief oveview of examples of some the most dangeous and pevasive secuity isks in the online and netwoked wold. One of the most insidious of identity theft is known as phishing. The tem 'phishing' efes to the pactice of "fishing fo infomation." This tem was oiginally used to descibe "phishing" fo cedit cad numbes and othe sensitive infomation that can be used by the ciminal. Phishing attacks use "…spoofed emails and faudulent websites to deceive ecipients into divulging pesonal financial data, such as cedit cad numbes, account usenames and passwods, social secuity numbes etc." (All about Phishing) . Thompson ( 2006) clealy outlines the basics of a phishing attack.
A typical phishing sends out millions of faudulent e-mail messages that appea to come fom popula Web sites that most uses tust, such as eBay, Citibank, AOL, Micosoft…
references the CISA Review Manual, 2006.
Thompson, S.C. (2006). Phight Phraud: Steps to Protect against Phishing. Journal of Accountancy, 201(2).
This study by Thompson provides some significant aspects that the business owner and customers in online commerce should pay attention to. These include basic but important aspect that should include in e-training; for example, never e-mail personal or financial information or never to respond to requests for personal information in e-mails. This provides useful background to the issue of risk identification and is also related management of this threat.
Wetzel R. ( 2005) Tackling Phishing: It's a Never-Ending Struggle, but the Anti-Fraud Arsenal Continues to Grow. Business Communications Review, 35, 46+.
This study A sheds light on the implications in term of the costs of identity fraud to financial institutions. The study underscores the severity of the vulnerabilities faced by today's organizations in the online world. The author refers to the obvious cost to intuitions like banks and also discusses hidden costs that relate to the erosion of customer confidence as a result of ID theft.
Some manufacturers have sought to improve their profitability by becoming more horizontally integrated in their supply chain management operations, but it does not appear feasible for the company to acquire the vendors that supply its component parts so viable alternatives must be identified that can facilitate the supply chain management process vertically. As Choy, Lee and Lo (2003) point out, "Very few manufactures now own all the activities along the chain but integrate the supply network from various supplier networks and the ability to make fast and accurate decision often constitute a competitive advantage compared with the competitors or other networks" (87). It is clear that the company could benefit from an information technology solution to its current paper-driven approach to managing its supply chain operations. In this regard, Choy and his associates also note that, "The rapid advance in information technology is now deployed not only to improve existing…
Akram, a., Chohan, D., Wang, X.D., Yang, X. And Allan, R. 2005. "A Service Oriented
Architecture for Portals Using Portlets." Warrington, UK: CCLRC e-Science Centre,
CCLRC Daresbury Laboratory.
Boyson, S., Corsi, T. And Verbraeck, a. 2003. "The e-supply chain portal: a core business model." Transportation Research Part E, 39, 175 -- 192.
Management of Risk: Role of Performance Measurement as Part of a Health and Safety Risk Management System
The HSE is the UK government body responsible for implementing health and safety legislation at work. In the UK, the Government's Revitalising Health and Safety strategy and the necessities of the Turnbull Report on company governance offer a changed emphasis on safety and health performance and the control of health and safety risks (Health and Safety Legislation, 2016). Risk management is a broad subject area spanning numerous disciplines and there is no single "accurate" description. All through the years, a lot of scientists tried to stipulate, categorise, recognize and analyse the risk of a certain project. Numerous activities have been created so as to calculate uncertainty and standardize risk. However, the most typical and recognized known risk management procedure is broken to three straightforward steps. With that said, this essay will show Role…
Alire, C., 2000. Library Disaster Planning and Recovery Handbook. New York: Neal-Schuman.
Bawcutt:, B. & ., 2001. Practical Risk Management,. London: Witherby.
Dunford, H., 2013. "Emergency Planning and Response for Libraries, Archives, and Museums.." Australian Library Journal, 62(3), pp. 236-237..
Fleischer, S. V. a. M. J. H., 2009. "Disaster Planning for Libraries and Archives.." Library & Archival Security 22,, 34(9), pp. 125-140..
Product Liability Tort
RISK AND RESPONSIILITY
A tort is a civil wrong, loss or harm inflicted by a person's behavior upon another (LII, 2010). While it is not necessarily an illegal act itself, the law allows the person harmed to recover his loss or receive compensation for the harm. It differs from a crime wherein the person's harmful act affects society in general. A claim of tort may be filed in a civil court. The three main elements of a tort are duty, the breach of that duty, and the injury or harm caused by the breach. The four main types of torts are intentional, negligence, strict liability, and nuisance. One type of negligence torts is products liability (LII).
Products liability can be incurred by any or all of the persons involved in the manufacturing chain of a product for the damage it causes (LII, 2010; Lim, 2012). It may…
Harb, T. (2008). 7 essential elements of ERM and the role of internal audit. The Institute of Internal Auditors. Retrieved on December 29, 2012 from http://www.inconsult.com.au/Articles/Essential%2520elements%2520of%2520role%2520of%2520Internal%2520Audit.pdf
LII (2010). Products liability. Legal Information Institute: Cornell University Law
School. Retrieved on December 30, 2012 from http://www.law.cornell.edu/wex/products_liability
Lim, K. (2012). How can businesses reduce product liability risks? Globial International
Total Quality Management (TQM) is the practice of continuously and thoroughly working on improving the proficiency and excellence of the product or service so that it exceeds customer expectations. TQM involves the involvement of anyone associated with the product / service - management, workforce, suppliers, and customers -- in order to ensure its continued excellence.
In its essence, TQM would be defined as a management approach to product excellence in order to achieve customer satisfaction.
Enterprise risk management (EM)
Enterprise risk management is the sector that deals with recognizing possible risks within the operation of the enterprise, assessing possibility and magnitude of these risks, controlling these risks, preventing other risks from occurring, and monitoring occurrence and reiteration of these partial risks.
Quality assurance is the act of analyzing processes and monitoring operations to ensure that high quality standards are being met at all times. In contrast to 'quality…
Alexander, Carol and Sheedy, Elizabeth (2005). The Professional Risk Managers' Handbook: A Comprehensive Guide to Current Theory and Best Practices. PRMIA Publications
Brigitte J.C. Claessens, Wendelien van Eerde, Christel G. Rutte, Robert A. Roe, (2007) "A review of the time management literature," Personnel Review, Vol. 36 Iss: 2, pp.255 -- 276
Chron,.com. Advantages & Disadvantages of Total Quality Management Strategies
The part one of this project discusses several challenges that can affect the success of a project. Ineffective project management and inefficient project planning are part of the top challenges of project implementation, which consequently lead to project failures if these challenges are not effectively managed. In the contemporary project environment, one of the major challenges facing project implementation is the project's risks, typically, every project carries risks and bigger projects carry more risks than smaller projects. Understanding the strategy to manage the project risks is very crucial in delivering a project that meets stakeholder's goals and objectives (PMIS, 2013). isks are uncertain events that can cause negative effects to a project. However, it is the responsibility of the project manager to identify potential risks before the project starts, the risks such as change in project requirement or equipment malfunction can be identified before the project start, however,…
Field, M., & Keller, L. (2007). Project management. London: Thomson Learning. Heerkens,
G.R. (2002). Project Management. New York. McGraw-Hill.
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Koehle, T.C. (1983). Project Planning and Management Technique. Public Administration Review, 43 ( 5): 459-466.
While this is an excellent aggregate measure and takes into account the contributions of knowledge employees have to the total shareholder value, capturing its transformation into market value is not as precise as using indices and analytics. A secondary approach is to use the knowledge management performance index (KMPI) (Kun, Lee, in, 2005). This index serves as a foundation for evaluating the contributions of knowledge to the three financial measures of stock, price, price earnings ratio and &D expenditures (Kun, Lee, in, 2005). These three factors combined provide insights into how knowledge differentiates a firm and also creates value over the long-term as well. The index also captures how value being created as a result of effective knowledge use by employees is impacting the Price-Earnings atio (P/E atio) of a given firm, which is a critical metric that institutional investors use to evaluate firms they want to hold stock in…
Abrams, C., J, v. K., Muller, S., Pfitzmann, B., & Ruschka-Taylor, S. (2007). Optimized Enterprise Risk Management. IBM Systems Journal, 46(2), 219-234.
Alviniussen, a., & Jankensgard, H. (2009). Enterprise Risk Budgeting: Bringing Risk Management Into the Financial Planning Process. Journal of Applied Finance, 19(1), 178-192.
Coffin, B. (2009). The Way Forward: Rethinking Enterprise Risk Management. Risk Management, 56(3), 36-36,38,40.
Demidenko, E., & McNutt, P. (2010). The Ethics of Enterprise Risk Management as a Key Component of Corporate Governance. International Journal of Social Economics, 37(10), 802-815.
Strategic isk and Exposure
Strategic exposure refers to the risk that makes the foreign exchange rate movements unfavorable and will influence the present value of firm's future cash flows. This is also known as long-term transaction exposures in terms of financial jargon. (Operating / Strategic Exposure) A close watch on the financial statement i.e. The main source of financial information of a firm reveals a picture of the exposure of the company to the strategic risks. The magnitude to which the value of the company is responsive to the changes in the interest, exchange and commodity prices indicates its exposure to the financial risk. The variation in its profit and loss account; the expansion or erosion of the core business in terms of annual variation in net sales, stock turnover, variation in costs comparatively to the income in terms of gross profit margin, selling and administrative costs, general costs depict…
An Overview of risk Management-Lecture 2 Treasury Management. Retrieved from http://accfinweb.account.strath.ac.uk/am/tml2.html Accessed 1 November, 2005
Enterprise Risk Management -- Integrated Framework. September, 2004. Retrieved from http://www.coso.org/Publications/ERM/COSO_ERM_ExecutiveSummary.pdf Accessed 1 November, 2005
Operating / Strategic Exposure. Retrieved from http://www.lse.co.uk/financeglossary.asp?searchTerm=& ; iArticleID=1753& definition=operating_/_strategic_exposure Accessed 1 November, 2005
Leadership and Organizational Change Potential in the NFL
Organizational Problem or Opportunity
Description of the Problem or Opportunity
Purpose of the Investigation
Summary of Section Highlights
Problem or Opportunity Background
• Current State of the Target Organization
• elevant Organizational Processes or Systems or Functions
• elevant Theory
Lewin's Change Management Model
McKinsey 7-S Model
Kotter's 8 Step Change Model
Corporate Social esponsibility
Investigative Approach and Design Strategies
• Investigative Approach
• Theory Thread Strategies
• Data Collection and Preparation Strategies
Investigation Parameters or Limitations
Findings of the Investigation
Overall Findings: A Synthesis
Interpretation and ecommendations 34
Organizational Implications 34
• Implications for Decision Makers 35
• Future esearch 35
The National Football League (NFL) is currently the most popular sport with American adults, however this position is…
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Benta, D. (2011). On Best Practices for Risk Management in Complex Projects. Informatica Economica, 142-152.
Business Dictionary. (N.d.). Change Management. Retrieved from Business Dictionary: http://www.businessdictionary.com/definition/change-management.html
Furthermore, the proper selection of the team provides a means of determining general responsibilities for each team member involved. They will need to know the overall scope of their service while also knowing their overall design responsibilities as compared to their peers. In addition, their contracts will be a directly correlated to the contract and specifications of the client involved. This is important as it aligns the motivations of the work team with that of the client. By aligning motivations and incentives, the design team has their personal interests affiliated with those of the client. This will ultimately help reduce unethical practices and mistakes within the overall process. According to the British design management standards, the design team will want to establish effective means of communication while also electing a qualified leader. More important the team must establish an overall brief. The brief, according to British Standards, should outline the…
1) Guide to RIBA Agreements 2007 (Royal Institute of British Architects) RIBA Publishing, 2008
2) Architect's Job Book Eighth Edition (Royal Institute of British Architects) RIBA Publishing, 2008
3) Briefing the Team (Construction Industry Board) Thomas Telford Publishing, 1998
4) The CIC Scope of Services Handbook (Contraction Industry Council) RIBA Publishing, 2007
Homeland Security isk Management
isk Management in Homeland Security
This paper provides a brief examination of the role of risk management within the homeland security operations. The discussion first addresses issues related to risk assessment, which is a necessary, prudent step for publicly funded activities, and particularly so given the national scope and the potential consumption of resources. The Strategic National isk Assessment (SNA) serves as a vehicle to link policy -- the Presidential Policy Directive 8 (PPD 8) and the National Preparedness System. The core capabilities of the National Preparedness Goal are mapped to the hazards and threats identified in the SNA (SNA 2011). This tactic enables additional core capabilities to be identified, and provides a resource to inform the establishment of priorities needed for making decisions about future investing in capabilities (SNA 2011).
As with any major projects of risk management, the initial stage is focused on assessment.…
The White House. National Security Strategy. (2010, May). Washington, D.C. Government Printing Office. Retrieved National_Security_Strategy.pdf
U.S. Customs and Border Protection. Secure Boarders, Safe Travel, Legal Trade. U.S. Customs and Boarder Protection Fiscal Year 2009-2014 Strategic Plan. Retrieved CBP_Strategic_Plan.pdf
U.S. Department of Homeland Security. Department of Homeland Security Strategic Plan. Fiscal Years 2012 -- 2016. (2012, February). Washington, DC: Government Printing Office. Retrieved DHS_Strategic_Plan-2012-2016.pdf
U.S. Department of Homeland Security. DHS Risk Lexicon. Risk Steering Committee. (2010, September). Washington, D.C. Retrieved http://www.dhs.gov/xlibrary/assets/dhs-risk-lexicon-2010.pdf
Integrating Total Quality Environmental Management Systems - a Critical Study of TQEM
Relevance of TQM to Environmental Management
Scope of Dissertation
Moving from Reactive to Proactive Management
Understanding TQM in Relation to TQEM
History of TQM
Operation of TQM
Quality and Environmental Management Standards
Environmental Management Systems
Weaknesses of EMS Standards
Total Quality Environmental Management
Comparing ISO 9000 and ISO 14000
Integrating the ISO 14000 Environmental Management System
Impact of certification on economic and ecological performances
Research Design and Nature
Integrating a Sustainable EMS with TQM
Steps to Implementing an Effective TQEM Strategy
INTEGRATING QUALITY AND ENVIRONMENTAL ManagementS SYSTEMS - A CRITICAL STUDY
ackground and Overview of Study
For decades economic growth has been considered the main indicator of a healthy society (Oliver, 1996). However, only recently has society begun to recognize the environmental cost of this growth. As a result, there is now an…
Bibliography working paper. Winnipeg, MB: International Institute for Sustainable Development, 1996. 58
Bisang, O. (2000), Green Banking - The Value of ISO 14001 Certification
Chattopadhyay, S.P. (2001), "Improving the Speed of ISO 14000 Implementation: A Framework for Increasing Productivity," Managerial Auditing Journal, 16/1, pp. 36-39.
Chinn, R. (March 21, 2001). Roadmap to Realization -- "Getting Started with Your QMS/EMS Integration Process. Alamo Learning Systems.
Clark, D. (1999), What Drives Companies to Seek ISO 14000 Certification, Pollution Engineering, Summer, pp. 14.
Risk Plan Outline Anheuser-Busch. Your Course Project assignment prepare a Risk Plan Outline give direction paper.
Survival in a constantly expanding business environment
Investing more finances in the first years of the enterprise
Liquor liability insurance
Having the market interested in the product
The right marketing company
The right retailer
The right attitude
Dealing with financial obligations correctly
Direct finances effectively and on time
Promote products depending on the amounts available
Concentrate on communicating with the market
Legal aspects of the business
Devising selling strategies depending on the states the company is selling its products in
Playing an active role in campaigns meant to promote moderation in drinking
c. Cooperating with the authorities
a. Making sure all workers are well-acquainted with regulations they need to follow
b. Having all machineries inspected on a frequent basis
c. Promoting a clean working environment
X. Devising strict risk tolerance…
Esslinger's book is a thorough account regarding the complete beer-making process and the numerous economic, marketing, and social elements that are involved in it.
Whaley, R.E. "Derivatives: Markets, Valuation, and Risk Management," (John Wiley & Sons, 26 Feb 2007)
This book relates to the relationship between market research and being in charge of a brewery. Risk management is essential in making it work properly and marketing is thus one of the most significant aspects of the whole brewing process.
Interpretation, Discussion and Implications of Findings
Enterprise 2.0 innovations should be seen as an interim technology, and it is reasonable to suggest that the next generation of post-mobile technologies will revolutionize communications even further. There is a clear, linear progression in communication technology, and eventually Enterprise 2.0 technologies will become obsolete as well. Given the current pace of innovation in computing, a reasonable timeframe for this evolution is within the next 5-10 years.
Until then, Enterprise 2.0 technologies will continue their own evolution, and will continue to contribute to helping businesses communicate with internal and external customers in new ways.
The interviews with industry experts highlight the current state of Enterprise 2.0. There is a continuum of maturity that exist on three distinct levels: unified communication, enterprise content management, and social network & community (Philip 2010). A fully mature Enterprise 2.0 model is one that includes unified…
One factor that drives higher levels of adoption is company size. The incremental cost of intensive Enterprise 2.0 participation is spread out over greater sales, so larger company have an advantage in terms of economies of scale in implementing new technologies. Another factor is the type of organization. Some industries in general place more emphasis on Enterprise 2.0, and firms will often respond to the moves that their competitors make with regards to this sort of marketing investment. Companies that have historically been more experienced with new technologies are more apt to be further along in their Enterprise 2.0 adoption.
Senior management support has also been cited by many respondents as a critical success factor in the adoption of Enterprise 2.0. There are different forms of support, in particular in the way that managers allocate organizational resources, but one form of support that arose a few times from respondents was that it was important for senior managers to actively use Enterprise 2.0 technologies. They are among the most visible members of the organization, and when they use the technology, the entire organization takes notice, and such usage become normative very quickly. There is also a lower likelihood of resistance to the implementation of Enterprise 2.0 when it is known that the technologies have support up to the very highest levels of the organization.
It is also noted that Enterprise 2.0 adoption is better when there is a plan to integrate it with other elements of corporate strategy. In many cases, new technologies offer immediate benefits. Firms that take a "wait and see" approach risk falling behind ((McNamee & Schoch 2010). Where management is engaged in new technology, it will have a better sense of what technologies to prioritize, as these can be quite different from one organization to another. A plan for implementing new technologies will better ensure that the technologies will be aligned with other elements of strategy. An implementation plan will also reduce the difficulties of implementation, as introducing new technologies into a company quickly can be a complex process (Consoli 2013).
EA Annotated Bib
References & Annotations
Aziz, S. (2011). Enterprise Architecture: A Governance Framework - Part II - Making Enterprise Architecture Work within the organization. Infosys, 1(1), 1-9.
This source rightly links business strategy and information technology strategy with enterprise architecture being the center of both. This document is a white paper generated and crafted by the authors as part of an effort by InfoSys. The benefits touted in the document included easier sharing, less time to market, lower development costs and the sharing of functional components.
Brooks, T. (2014, ecember 2). Enterprise Architecture Governance: A Framework Approach | Architecture and Governance -- Strategic IT Planning and Enterprise Architecture. Retrieved ecember 2, 2014, from http://www.architectureandgovernance.com/content/enterprise-architecture-governance-framework-approach
This report gives a step-by-step approach to enterprise architecture governance. Steps include figuring out life cycle phases, mapping of governance roles and developing metrics. The steps involved are commonsense and straightforward enough to be understood…
Discusses capability models as it relates to business strategy and overall strategic dialog. As stated in the article, "creating meaning is the goal." The article is a little esoteric and high-level but can be used effectively if taken for what it is.
Wilson, C., & Short, J. (2011). Magic Quadrant for Enterprise Architecture Tools. Garner, 1(1), 1-25.
When speaking of quadrants, this document refers to a quadrant-based matrix that has ability to execute as its Y axis and completeness of vision as its x axis. It then plots enterprise architecture solution vendors on that matrix. Atoll, QPR Software and Sparx Systems score low on both axes. OpenText scores well on execution but not on vision. All of the other vendors listed score well on both axes and the businesses include SAP, IBM, Mega, Avolution and a few others.
Some or all such authority may be in fact unlimited. This is when a committee can counterbalance authority and diffuse power within an organization since effectively only a small faction is making important decisions. The best use of committees is to have limited power to make decisions but have unlimited power to make recommendations on how things should be done.
2. Identify the initial issue that should always be thoroughly addressed when the establishment of a committee is recommended.
The initial issue that should be addressed is that of making sure that those on the committee are the people capable of carrying out the agenda of the committee and that the committee will have limited power to make organizational decisions.
3. In what ways may committees be said to dilute the recognition and diffuse the blame or responsibility? Where, based on your personal experience, have you seen one of these…
Baker, L. 2002. "Managed care, medical technology, and the well-being of society," viewed 21
February 2011, < http://www.ncbi.nlm.nih.gov/pubmed/12055455 >
Carlson, Gail. 2009. "Managed Care Understanding Our Changing Health Care System," viewed
21 February 2011,
Enterprise-Wide isk Assessment
The best choices made in enterprise-wide risk assessment are ones which admit that no organization can adequately prepare and protect themselves from every risk. ather, in order to engage in enterprise-wide risk assessment in a lasting and meaningful way, one needs to be able to pinpoint critical assets along with key vulnerabilities. This chapter covers yet another issue in this process, which is the ability to understand the threat environment that one's work or business exists within, so that one can accurately assess the overall risk of the enterprise.
Another solid choice in comprehensive enterprise-wide risk assessment is the issue of anticipating and preventing for insider threats. Too much time, money and energy is spent on protecting data from external threats, when there are already significant security issues presented from the inside to one's network or systems. Security awareness training is one solid way that one can…
Cappelli, D.M. et al., (2013). The CERT Guide to Insider Threats. Upper Saddle River: Pearson
The post modern era has seen drastic improvements and rapid developments in the field of Information Technology. As a result of this rapid development of Information Technology and the increasing rate of Globalization and faster communication methods, business practices in the corporate world have evolved to a significant degree, and are consistently in the process of information. Only a few decades ago, corporate houses were oblivion to terms such as Management Information Systems, Organizational Information Management. Today, effective management of information systems within an organization and efficient incorporation of Information Technology is an integral part of any business strategy and have also become a center of attention for many researchers. It all started from telephones, telex and facsimile and today it has reached the level of video conferencing and hand held tablets.
The concept of Enterprise Architecture is a relatively new one and is still in…
Enterprise Architecture Center. (2010). Enterprise Architecture Organizational Readiness and Change Management. Retrieved from http://www.enterprisearchitecturecenter.com/enterprise-architecture-blogs/enterprise-architecture-organizational-readiness-and-change-management.
Nobel, C. (2010, November, 1). How IT Shapes Top-Down and Bottom-Up Decision Making. Harvard Business School.
Rettig, C. (2007). The trouble with enterprise software. MIT Sloan Management Review, 49(1), 21-27.
Graham, P. (2006). Linking information architecture to enterprise strategy. Business Intelligence Journal, 11(4), 46-50.
Giving them the opportunity to participate in the product launch decisions from a marketing standpoint also highlighted an embarrassing point for marketing, and that was engineering often understood the competition and its true functionality better than anyone in marketing. The reason is that the engineers had taken great pride in working on their product features they were responsible for to make them the best in the industry, and it was clear some had taken great pains to make a statement in their work. Creating shared ownership of product outcomes strengthens morale of technical professionals and infuses an entire development team with more accountability (Voss, 1993) and willingness to internalize a strong commitment to the success of the product (Kochanski, Ledford, 2001).
The risk of recommending this strategy would be that the more dominant engineers would overrule marketing and turn the entire marketing strategy into more of a features discussion than…
David Baccarini, Geoff Salm, & Peter ED Love. (2004). Management of risks in information technology projects. Industrial Management + Data Systems, 104(3/4), 286-295.
Jain, S.. (2008). DECISION SCIENCES: A Story of Excellence at Hewlett-Packard. OR-MS Today, 35(2), 20
James Kochanski & Gerald Ledford. (2001). "How to keep me" -- retaining technical professionals. Research Technology Management, 44(3), 31-38.
Li, Y., & Zhu, K.. (2009). Information acquisition in new product introduction. European Journal of Operational Research, 198(2), 618.
"The most important issues which have to be addressed here are precise monitoring (diagnosis) of current results and their comparison with what has been planned. Effective managerial control must always be followed by feedback for correcting initial plans " (http://www.bashedu.ru/konkurs/ibatullina/eng/function.htm).
The observation of the way in which people within an organization behave is of extreme importance. ut leaders and managers obtain feedback not just from observations, but directly from people. This provides them with a better understanding of the relation between the actions performed by the individuals and the beliefs which guide their behaviour. An efficacious control upon these factors implies the contribution to the creation and maintenance of a healthy organizational culture.
There are various strategies that an organization can choose to implement in order to make sure it preserves a healthy organizational culture. Among them we can mention the adoption of various principles, such as the following: a…
Baker, Kathryn (2002), Organizational Culture, 19 May, 2007, <
Four Management Functions, 19 May, 2007, http://www.bashedu.ru/konkurs/ibatullina/eng/function.htm
Schein, Edgar, H (1992), Organizational Culture and Leadership, San Francisco: Jossey -Bass Publishers
When employees are managed for their potential in addition to their contribution, their willingness to openly share and contribute information significantly increases. esistance to change and fear are minimized and employees perceive their role as contributor and knowledge expert over time, not as an employee who is being automated out of a job for example. The critical factors that lead to a learning organization are put into motion by transformational leaders who seek to define a culture inside their organizations of professional growth for subordinates. The focus on autonomy, mastery and purpose is critically important for organizations to grow entrepreneurs (El Tarabishy, 2006) while at the same time overcoming resistance to change as employees don't see the need to hoard information but to add rapidly to it to master their field and be an acknowledged expert or guru in their fields. The difference in behaviors is mastery over one's position…
Li Yueh Chen, & F. Barry Barnes. (2006). Leadership Behaviors and Knowledge Sharing in Professional Service Firms Engaged in Strategic Alliances. Journal of Applied Management and Entrepreneurship, 11(2), 51-69.
Karina Skovvang Christensen. (2005). Enabling intrapreneurship: the case of a knowledge-intensive industrial company. European Journal of Innovation Management, 8(3), 305-322.
El Tarabishy, Ayman (2006). An exploratory study investigating the relationship between the CEO's leadership and the organization's entrepreneurial orientation. Ed.D. dissertation, The George Washington University, United States -- District of Columbia.
Ling, Y., Simsek, Z., Lubatkin, M., & Veiga, J.. (2008). Transformational leadership's role in promoting corporate entrepreneurship: Examining the CEO and Top Management Team Interface. Academy of Management Journal, 51(3), 557.