Monday, February 24, 2020

Risk Management Case Study Example | Topics and Well Written Essays - 3500 words

Risk Management - Case Study Example Risk management is the practice of managing the resources of the operation in such a way as to maintain an acceptable level of risk. This in turn should generate a corresponding level of return that will allow the goals of the operation and management to be achieved. The use of time, financial and other resources to effectively manage the risks so that goals can be achieved is the risk management. Risk management comprises of risk assessment and risk control. Assessing Risk is identifying and analyzing risk. Controlling Risk is taking steps to reduce risk, provide contingency, monitor improvements. Risk Management is important for ensuring that a computer project isn't scuppered, preventing accidental loss or disclosure of information, avoiding computer fraud, hacking, ensuring the smooth running of an information system and maintaining your career prospects. Sources of Risk: There are five main sources of risk in an operation: production risk, marketing risk, financial risk, legal risk and human resource risks. Production risks include yield and quality variability. Marketing risks include changes in the price and external conditions. Financial risks include variability in debt, equity capital and ability to meet cash demands. Legal risks include responsibilities for contracts, statutory compliance, tort liability and business structure. Human Resource risks include people management and estate transfer. Types of Risk: There are two types of risk that affect the volume of investment. The first is the entrepreneur's or borrower's risk which arises out of doubts in his own mind as to the probability of his actually earning the prospective yield for which he hopes. This is a real social cost, though susceptible to diminution by averaging as well as by an increased accuracy of foresight. If a man is venturing his own money, this is the only risk which is relevant. But when a system of borrowing and lending exists, which means the ranting of loans with a margin of real or personal security, a second type of risk is relevant which we may call the lender's risk. This may be due either to moral hazard, i.e. voluntary default or other means of escape, possibly lawful, from the fulfillment of the obligation or to the possible insufficiency of the margin of security, i.e. involuntary default due to the disappointment of expectation. This is a pure addition to the cost of investment which would not exist if the borrower and lender was the same person. Moreover, it involves in part a duplication of a proportion of the entrepreneur's risk, which is added twice to the pure rate of interest to give the minimum prospective yield which will induce the investment. For if a venture is a risky one, the borrower will require a wider margin between his expectation of yield and the rate of interest at which he will think it worth his while to borrow; whilst the very same reason will lead the lender to require a wider margin between what he charges and the pure rate of interest in order to induce him to lend (except where the borrower is so strong and wealthy that he is in a position to offer an exceptional margin of security). During a boom the popular estimation of the magnitude of both these risks, both borrower's risk and lender's risk, is apt to become unusually and imprudently low.From

Thursday, February 20, 2020

Analysis of Ethics in the 21st Century Coursework - 1

Analysis of Ethics in the 21st Century - Coursework Example The conference held by UNESCO between September 21 and September 22, 2001, produced a well-known report on ethics (UNESCO, 2001). Ethical behavior entails sincerity, trustfulness in transactions, accountability, and responsibility in all dealings. Ethical behavior should be fair and unprejudiced in every relationship as well as gentle and compassionate in every situation. These rules guiding ethical presentations are powerful and straightforward. As an individual, one should adhere to these simple rules, and should not be discouraged or change views owing to external pressure. Ethical management necessitates one to choose to do that which is right in the threshold of ethical norms in the society. These norms entail empathy, care, and responsibility towards others one oneself. There are several issues that should be emphasized in order to remain loyal to one’s ethical principles and responsibilities. These include honesty, diversity, integrity, and access (Zaidi, 2012). Today’s world attributes the cause of the increased ethical quagmires to technological and scientific advancements that dominate the modern human life. Human beings respond to ethical issues with the assistance of technology. One should cite references from the conventional wisdom in order to arrive at ethical solutions of problems at hand. There are mainly two types of ethics related to globalization. The first ethic is based on the sovereignty of states and the power structure while the second one is based on the responsibilities of the liberal market (Wilkins, 2009). Globalization in the 21st century has led to the emergence of harmony, and, thus, increased interactions among people.

Saturday, February 8, 2020

Who does not belong there Essay Example | Topics and Well Written Essays - 2500 words

Who does not belong there - Essay Example Thus it becomes obvious that a library is a utility facility for the people in a community for their academic, professional and personal development as well as a place where they can entertain themselves through television and other media. Also, the role of libraries as sources of information is very crucial in any civilized society and this is specially so in the case of students. College and university libraries house a lot of books besides those related to academic field. These include literature, general subjects, comics etc. It is a well known fact that books contribute predominantly in the emotional and intellectual development of students besides teaching them morals, values, ethics as well as giving them knowledge about other cultures and civilizations. Therefore, one can say that libraries have a pivotal role not only in the students' academic pursuits but also in their grooming as responsible individuals. I am a frequent visitor to my university library. This is a place whe re I find the necessary calm and serenity which afford me the ability to concentrate, and also, as an avid reader, I cherish the library's resources as an invaluable treasure. I am further a keen observer of my surroundings and this habit developed in me right from my childhood. Thus I happened to observe some of the people who visit the library and I know they are not coming there for basically for any purpose for which a library is intended. On the other hand, they had some ulterior motive for coming to the Library. These are the lot I would term as 'Who do not Belong' here! It was the weekend and I was so immersed with the literature text I was reading that I hardly paid any attention to the person who passed me onto the next shelf of books. After some time, I got distracted with the sharp metallic noise emerging from the next shelf of books. Piquing my curiosity, the tone of the music prompted me to investigate its source. There he was - gyrating his hips in tandem with the rhythmic beats of an orchestra by a popular musician. The headphone, forging an arch shaped dip in his curly, black hair, chimed in full blast as he danced and hummed the tune aloud. He was about twenty; a slender masculine youngster, with a clean-shaven face. He was simultaneously sifting through a book, occasionally straightening a dog-eared page, and then he moved to another in an automatic manner, sans no interest on the contents of the page. Of course, he was not serious either about the book or its contents and he seemed to derive his pleasure from just turning the pages. From the back cover I found the novel was Stephen King's it. This would have been an extremely bizarre experience for Mr. King, and he would have definitely written a book on the horror he felt, had he been on this macabre scene. In the next instant, I found the youngster moving onto another shelf, singing and making gestures with his hands, causing distraction to the people present there. No doubt, people like him did not belong to a library, and all they can do is defeat the entire purpose of a library's existence. The concept of libraries as places of serenity and calmness remain so only in the conceptual level as I could find many people using their cellular phones so indiscriminately in the premises of the library where their use was restricted. A college girl of around twenty two captured my special notice because of the peculiar

Wednesday, February 5, 2020

The Function of Working Colour Space in Colour Management Essay

The Function of Working Colour Space in Colour Management - Essay Example Management is defined as the control of a subject. Colour management can similarly be defined as the control of colour in an art. Different devices used in visual arts such as cameras and printers â€Å"responds to or produces colour differently† (Koren, 2004, p. 1). The capacity to predict the desired colour or capacity to use digital features of the equipment to obtain the desired colour is therefore important in productions. An artist must, therefore, be able to control available colours in order to â€Å"improve colour match† and to â€Å"reproduce colours as precisely as possible†, an initiative that forms the basis of colour management (Koren, 2004, p. 1). A colour space is a set of colours in a colour model. It consists of a wide range of colours for selection. This allows an artist to navigate through colours in an attempt to find a suitable match. The concept of colour space, through an application of colour profiles also allows artists to refine their colour matches through processes such as rendering intents. Application of concepts such as â€Å"perceptual, saturation, relative colorimetric, and absolute colorimetric† allows for mapping of colours within a colour space and hence facilitates perfect matches in productions. The colour space is, therefore, an instrumental concept in visual production (Anderson and Krogh, 2012, p. 1). The working colour space is, therefore, an important tool in visual arts as it forms a basis for selection of matches for quality output. It, therefore, forms an elementary ground for colour management.