Role of Risk Management in an Organisation

Role of Risk Management in an Organisation Task One – Individual Research Report The Task You are asked to research, critically examine and discuss the role of the ‘risk management’ function within an organisation. Examine and discuss the purpose of risk management within an enterprise. The purpose of risk management in an organization is to identify the possible problems before it occur in a business. Risk handling actions may be deliberated and raised as needed through the life of the creation or plan to alleviate opposing impacts on attaining objectives. Risk management is a constant and progressive process that is significant part of business. It address issues that endanger the achievement of objectives. Constant risk management method is practical to successfully expect and alleviate the risks that have serious impact on the plan. To have an effective risk management it should have a comprised aggressive and early risk documentation through the association and participation of related inventors. Technical issues are a main concern both early and during all plan stages. Risk management must deliberate both external and internal sources for schedule, cost, and technical risk. Examine and discuss the benefits of risk management within an enterprise There are a lot of benefits of risk management within an enterprise. Some of those are formation of a more risk that is focused on culture for the organization. In this the organization will implement ERM note that will increase the focus on risk. The senior ranks results in more conversation of risk at all levels. Discussion of risk and communication is recognized as a process to deliver information to senior management and also a way to segment risk information inside and through operations of the company. In that case it will let improved visions and decision making regarding risk at all levels. Regular risk reporting, ERM maintain better structure, broadcasting, and investigation of risks. Consistent reports can progress the focus of executive and directors by providing data that allows improved risk moderation decisions. Improved focus and perspective on risk. Efficient use of resources and effective coordination of regulatory and compliance matters. Examine and discuss each of the following risk management components explaining how they relate to the overall role of the ‘risk management’ function Reviewing of activities and internal environment The internal environment contains the manner of an organization, persuading the  risks awareness of its people, and the foundation for all other people. It provide  discipline and structure that the people will follow to avoid risk management. Internal  environment factors include an individual’s risk management and it over sight by the  board of directors its integrity, ethical values and competence of the individual. An  organization’s internal environment has a significant impact on how enterprise risk  management is implemented and functions on an ongoing basis. Setting objectives Objectives are set in every organization or business in order to evade risk management. Establishing a basis for operations, reporting, and compliance objectives. Every  Individual have a different risks from internal and external sources, and a qualification  active incident, documentation of risk assessment, and risk response to establish  objectives aligned with the individual risk desire which drives risk tolerance levels for  the object. Also objective is the guide that one business should follow  in order to have a good outcome. Event identification Management identifies potential event that will affect the individual and determines whether they represent opportunities that might adversely affect the individual ability to successfully implement strategy and they will achieve their objectives. Event should be positive impact so that no rick will develop in individual which will lead the management assessment and response. Risk assessment with particular reference to the impact and likelihood of risk Risk assessment allows a person to deliberate the level to which potential events have  an impact in achieving the objectives. In risk assessment it can be qualitative or  quantitative methods wherein they can used questionnaires that they can distributed to  the employee and the company or business owner will be able to determine what the  risk management problem in the company. They will assess it together with the top  management and the board to develop a certain solution that will help them  in resolving the risk management. Risk response plans After assessing the relevant risk, management now determines how will respond. Responses may include risk avoidance, reduction, sharing, and acceptance. In  seeing its response, management assesses the result on risk likelihood and impact,  as well as costs and benefits. Management identifies any opportunities that might be  available. At the completion of its risk response actions, management may have a view  of individual risks and responses and their place with associated acceptance. Control activities Procedure and policies that help ensure that the management risk respond is carried out  is the control activities. Also the activities happen all over the organization in all  functions and levels. Control activities include a variety of activities such as  reconciliations, authorizations, verifications, approval and reviews of operating  performance also segregation of duties and security of assets. Control activities generally  established to ensure risk responses are appropriately carried out by individual with  respect to certain objectives. Information and communication Relevant information is identified, taken, and communicated in a form and now the  people are given timeframe that enable them to carry out their responsibilities. Information gathered are generated as data. That information will provide the  management the risk that they need to resolved and making informed decisions relative  to objectives. Effective communication also have an important role in risk management,  it is one of the important factors in a company. All workers must get a clear message  from the management that enterprise risk management responsibilities must be taken  seriously. They should understand their own role in enterprise risk management, as well  as how they will relate the activities to their work and to the work of others. They must  have a means of communicating significant information upstream. There is also effective  communication with external parties, for example customers, suppliers, regulators, and  shareholders. Monitoring Enterprise risk management is monitoring and assessing the presence and functioning of its mechanisms over time. This is being done through ongoing monitoring activities. The management do evaluation to monitor the performance of the people. Through evaluation they will know if the people in the company are implementing the objectives and no risk management will happen. Ongoing monitoring occurs in the normal course of management activities. The opportunity and occurrence of separate evaluations will depend mainly on the assessment of risks and the effectiveness of constant monitoring actions. Enterprise risk management deficiencies are reported to top management and the board.

The Crucibles Verbal Irony :: Essay on The Crucible

Arthur Miller, one of America's greatest playwrights, living or dead, is a master of verbal irony. An examination of three strong examples of verbal irony in Millers play, The Crucible, will prove this out. While Miller started the genre of the tragedy of the common man, and is also know for his thoughtful and decisive plot lines, much of his fame, possibly can be attributed to his brilliant use of language generally, and his use of verbal irony in particular. Amidst the drama of the court scene in Act III, Proctor and Mary Warren are being questioned in relation to Elizabeth's possession of poppets. Parris is trying to prove the fact that maybe they were unaware of her possession of these, that she could have hidden her poppets. In a response to Proctor, Parris sites that 'We are here, Your Honor, precisely to discover what no one has ever seen.'; Parris' meaning is very simple; he is simply commenting that the court is trying to discover the poppets that supposedly Elizabeth had hidden at her house, that no one has seen. But to read Miller, one must be more perceptive, and in examining this quote by Parris, there is another meaning behind it. As most know of the Salem witch trials, they specifically know the unjust and misled court system that was used to accuse the witches. The words uttered from Parris' mouth at that instance are so contradictory of the court and ironic that from a reader's standpoint, one is mixed between the emotion of laughter and tears. For the knowledge of the witch trials would allow one to know that they were nothing but a hoax. The court is out to discover what no one has seen. Knowing that there are no witches, then Parris is precisely right when he says this. It's just the irony of Parris' ignorance that makes this quote affective. The relationship between John and Elizabeth is brought to test throughout this play. The fact that John cheated on his wife and the fact that Elizabeth cannot forgive him for this is the basis of the conflict. In Act II, Reverend Hale comes to visit the Hosek - 2 Proctors on his own account to alert them that Elizabeth's name was mentioned in court. Deep in the conversation, Hale asks John to recite the Commandments with the intent to prove he is a covenanted Christian man.

Education: Its Aims And Objectives Essay

â€Å"Education†, says Aristotle,† is the creation of a sound mind in a sound body†. It encompasses in itself the all round development of an individual. The success of spreading education to the widest possible area lies in the way it is imparted. With the ever changing technology scenario, the methods of imparting education too have been undergoing changes. But education itself is an age old process, rather as old as the human race itself. It was man’s education through Nature, our greatest teacher, that he learned how to make fire by rubbing stones or invented the wheal to make tasks easier. Education in real earnest helps us in restraining the objectionable predisposition in ourselves. The aims of education have been categorized variously by different scholars. While Herbert Spencer believed in the ‘complete-living aim’, Herbart advocated the moral aim. The complete living aim signifies that education should prepare us for life. This view had also been supported by Rousseau and Mahatma Gandhi. They believed in the complete development or perfection of nature. All round development has been considered as the first and foremost aim of education. At the same time education ensures that there is a progressive development of innate abilities. Pestalozzi is of the view â€Å"Education is natural, harmonious and progressive development of man’s innate powers. † Education enables us to control, give the right direction and the final sublimation of instincts. It creates good citizens. It helps to prepare the kids for their future life. Education inculcates certain values and principles and also prepares a human being for social life. It civilizes the man. The moral aim of Herbart states that education should ingrain moral values in children. He is of the view that education should assist us in curbing our inferior whims and supplant them with superior ideas. This moral aim has also been stressed upon by Gandhiji in the sense of formation of character. The preachers of this aim do not undermine the significance of knowledge, vocational training or muscular strength. But simultaneously they have also laid stress on their view that the undisclosed aim of education is to assist development of moral habits. Then there is the social aim which means that education should produce effective individuals in the sense that they realize their responsibilities towards the society. And we all know that man is a social being. The interactive ability is a must as it is through interaction that we come to know of our responsibilities. Edmund Burke asks and he himself answers: â€Å"What is education? A parcel of books? Not at all, but an intercourse with the world, with men and with affairs. † Only bookish knowledge takes a child nowhere. It should be further perfected by practical usage with experience. â€Å"Reading maketh a full man; conference a ready man; and writing an exact man† is a pithy and precise statement in which the essayist Francis Bacon sums up the advantages of studies. Even Wordsworth in his poem ‘The Tables Turned’ advocated against bookish knowledge. Books! ’tis a dull and endless strife: Come, hear the woodland linnet, How sweet his music! on my life, There’s more of wisdom in it. Wordsworth was a die-hard naturalist. He wanted man to consider Nature his teacher. Naturalists believe that instincts of the child should be taken as the basis of education. The child should have freedom. Rabindra Nath Tagore was of the opinion that child should be left free in order to gather experience and to understand his own mistakes and shortcomings. The twentieth century saw the emergence of the concept of Pragmatism. Charles Pierce was the first man to introduce the concept of pragmatism in his philosophy. Later on it was popularized by John Dewey, William James, Kilpatrick and Schiller. They believed that the external world is real and the reality is being constantly created and is always changing. Knowledge and truth is one and the same thing according to them. Whatever the approach towards education, one thing we all agree: Education is for the betterment of the individual and in the long run for the society. Education helps us prepare ourselves for the life ahead. Darwin gave the theory of the ‘survival of the fittest’; we can say in a way that education prepares the individual for the struggle of life for his own survival. Knowledge combined with proper guidance can spell success. A dose of proper guidance should be commenced right from the base itself, that is, in school days. Here comes the role of the teacher in moulding a child’s mind. Educating a child, especially in the beginning years of schooling, is a very tricky job. That is probably because the child’s mind is like the unmoulded clay at that time. Therefore to get the best results and prepare well-informed and erudite adults, proper guidance is a must. For a proper system of education the teacher should encourage a student both in terms of mental encouragement and in lending a helping hand as and when needed. A student needs help for training his mind in such a way that it develops a tendency to gather knowledge from all possible sources. While on the other hand too much help if lent to him will make him dependant and used to spoon feeding. Self-study is the most sought after quality in a student. It helps them at the later stages. But because the ‘child is the father of man’ (Wordsworth) all the qualities have to be inculcated right in childhood. And teacher along with parents plays a very significant role. The aims of education should be kept in mind, although a thorough study of these aims may not be imperative. A teacher should make a child ready to face the society, inculcate moral habits in him and thus, assist him in his all round development. Education should not be considered synonymous with all that we learn. It does not signify the things we mug up before appearing for an examination. Education is what remains behind, when we fail to remember the mugged up portion. After we have left school, we realize that although we have forgotten quite a few things we learnt but still retain a very large part of it. The latter part is education. Education formally begins in school but actually it begins the day we are born and the process goes on for the whole of our life. This is where the aims of education come in. Education is not only the formal part we gain in schools, colleges or universities. It also includes the lessons life teaches us in various forms. For instance, when a child gets his finger pricked by a needle accidentally he learns that a needle is sharp and can hurt a person, so he will learn to avoid hurting himself in the future. This is only one example from thousands of other instances. We can even learn a lesson of a lifetime from a beggar. The birds inspire us to rise high. An ant motivates us for hard work. We learn some things just by doing them on our own, they are never taught in a school. A child’s first teacher is his mother, then his home and then come the formal agencies of education. Nature too is a great teacher. English poetry too gives us quite a few guidelines for leading a better life. It was not for nothing that Wordsworth went on to remark: â€Å"One impulse from the vernal wood May teach you more of a man Of moral evil and of good Than all the sages can. † As long as there is life, we require education; we need ways to modify our views about life, to face it, to live it in a better way. And education teaches us all this. Even when you read a comic strip, it educates you in some way. They improve our language and make us realize that life isn’t so bad after all that it can’t get worse, as states Bill Watterson in ‘Calvin and Hobbes’. The witty humour of ‘Dennis the Menace’ enriches us no end. â€Å"The aim of education,† says Walter Grophices, â€Å"is not the specialist but the man of vision who can humanize our life by integrating emotional demands with our new knowledge. † In another way too, the insects and animals also teach you a lot. The easiest example is that of an ant. It inspires you to work hard. Therefore we can say there are innumerable modes of education, all that one needs is to have a discerning eye. Education enriches a person in terms of accepting a defeat. A student should first of all be taught so that he is encouraged to study. Side by side he should be readied to face a failure. As Charles F. Kettering rightly says,† The chief job of the education is to teach people how to fail intelligently. † This will help the child coping with the other adversities of life. Education, thus, makes a person an improved version of himself and the world a much better place to live in.

A Worn Path Short Story Research Paper Essay

Many obstacles can be taken when one desired the most is at risk. Phoenix Jackson is an old woman who has the right intentions, but meets many conflicts on the way. In the short story, â€Å"A Worn Path†, Eudora Welty predicts that one never knows where a path will end up leading them through conflict and symbolism. Phoenix Jackson warns that one never knows where a path will end up leading to. In the short story â€Å"a Worn Path†, Phoenix Jackson goes through many obstacles on the path to find medicine for her â€Å"grandson† (Welty). Phoenix is on a mission to retrieve treatment for her grandson. She is willing to face anything that gets in the way of her path leading to her destination. As Phoenix faces her journey she will reach conflicts beyond the way. While on the path to complete her mission phoenix stumbles upon many conflicts. In the short story â€Å"a Worn Path†, Phoenix comes encounter with intimidation of a â€Å"young hunter† in the woods (Heller). The hunter tests the old lady of weakness as he boasts of himself throughout the scavenged woods. Although the hunter has a gun with any possible chance to use it on Phoenix, she resembles courage upon the conflict for going about her business and continuing about her quest. In the short story â€Å"a Worn Path†, old woman Phoenix struggled up a hill â€Å"extricate[ed] herself from a thorn bush†, and crossed a log over a creek (Piwinski). As the woman struggles to get out of the bush she chooses to not give up and continue forward her path. The woods may have brought conflict and obstacles to Phoenix, but that won’t stop her from reaching the end of her journey.

The Use of Magical Realism in Gabriel-Garcia Márquez’s Chronicle of a Death Foretold

Gabriel-Garcia Marquez is an author known for the use of Magical Realism in his novels. Throughout the novel â€Å"Chronicle of a death foretold†, the novelist Gabriel-Garcia Marquez uses magical realism as a genre frequently. Magical Realism is defined as being the juxtaposition of realism with fantastic, mythic and magical/supernatural elements. Marquez reflects magical realism by exploring both natural and supernatural worlds and illustrating traces of the culture the characters have, which is Latin American. The magical elements that are present within the novel are: superstitions, exaggerations, dreams that come true and the coincidental bizarre situations. Exploring the use of magical realism will give an insight to the characters’ personality, thoughts and actions. On top of that, it will also give an insight to what the author’s thoughts are. Therefore, the thesis question will be answered and analyzed â€Å"The Use of Magical Realism in Gabriel-Garcia Marquez's Chronicle of a Death Foretold†. Gabriel-Garcia Marquez uses magical realism in Chronicle of a Death Foretold to illustrate the narrative in prose and verse or details about character that are not relevant. In the opening of the novel, the narrator discusses the dream that Santiago Nasar has right before his death. The narrator states â€Å"He’d dreamed he was going through a grove of timber trees where a gentle drizzle was falling, and for an instant he was happy in his dream, but when he awoke he felt completely spattered with bird shit†[1]. This cynical detail does not support the style of narrative of investigative journalism.

How organizational citizenship behavior is determined and how it Essay

How organizational citizenship behavior is determined and how it impacts on the efficiency of performance in Ministry of Interior in UAE - Essay Example Organizational Citizenship behavior exceeds the required limits as formal organizational roles require so; it is not possible to hold the staff accountable for failing to undertake it. However, in many occasions, levels of productivity of performance could be sacrificed for the sake of serving colleagues and bossed or serving public objectives at the organizational level. From the practical viewpoint, the significance of organizational citizenship behavior lie in its capability of developing organization’s effectiveness and efficiency though, protecting organization resources, presenting necessary creative and developmental suggestions, achieving the levels resilience in the face of challenges and unexpected emergencies. Introduction and Problem Statement Employment in the government commands the highest level of social responsibility and moral conduct in addressing the needs of the citizenry. This is because government service is essentially public service, which implies a subordination of personal interest and even comfort to the greater interest of the nation and its citizens. Nowhere is there a more fitting application of this construct that in the Ministry of Interior, where the imperative to apply force to ensure law and order is tempered by the need to observe organizational citizenship behaviour in the implementation of its police and security function.

Analyst article Assignment Example | Topics and Well Written Essays - 250 words

Analyst article - Assignment Example Nuclear energy contributes 20% of the energy produced in the US. However, the nuclear industry is struggling following delayed construction of nuclear plants and ballooning costs of setting up new modern plants. Additionally, the industry faces intense competition from cheaper alternative energy sources. However, these sources emit carbon thus environmentally unfriendly (Kelly-Detwiler, 2014). Thus, politicians, energy companies and engineering outfits campaign for revamping of the industry until the country has energy alternatives that would not harm the environment. In this article, Kelly-Detwiler (2014) appreciates the need for cheaper alternative energy sources but at the same time the need to protect the environment. Whereas new cheaper energy generating technologies are emerging, they emit carbon. Thus, while nuclear energy fails to be cost-competitive, its use should be promoted due to associated environmental benefits. This is an interesting article as it appreciates the reality of nuclear energy being overtaken by emergent energy sources as a low-cost energy source. Even so, the need to protect and preserve the environment creates the need to foster the nuclear energy industry until environmental friendly alternatives are fronted. Thus, cost and environment are both important considerations when making energy source