Monday, December 2, 2019
Risk And Crisis Management Issues Crisis is an expected part of business these days and cannot be detached from usual business activity. Corporate crises primarily are more likely to be impulsive by market, organisational compositions, finances, innovative technology or by natural catastrophes, and may result in widespread losses of not only resources but also human life. Corporate crises inevitably injure both the financial structure and also frequently the reputation of the organizations concerned. Strategic crisis preparation is becoming a more and more important issue as organizations seek to cope successfully with possible crises. Need essay sample on "Risk And Crisis Management Issues" topic? We will write a custom essay sample specifically for you Proceed After executives at Soc Gen had unravelled the mystery of Mr Kerviels position and published their findings, the banks reputation for its sophisticated risk management was essentially in tatters along with the its independence (Matlack 2008). The stakeholders who were the most affected as a result of the fraud at Societe Generale included the banke employees and higher management along with the shareholders of the company who had to pick up the pieces. Daniel Bouton, the banks chairman, initially presented the incident merely a short-lived rampage attributed to a rogue trader who had been able to hack into Societe Generales computer systems. The chairman later had to conduct a massive PR exercise just to save his job. The potential impact of crisis upon an organisation's reputation is clear in this case. Crisis is essentially a socially constructed process that is experienced in different ways by different stakeholders (Kellerman 2006). For instance, the banks senior management could have potentially lost there jobs along with other bank employees. The stockholders were also affected but in a slightly different way. Soc Gen had to raise further capital through a rights issue diluting the value of the investment of the original stockholders of the company. It has become amply clear in public perception that Mr Kerviels managers ignored more warning signs that, if properly heeded, would have permitted them to prevent the trader long before he was able to carry out so much damage. When all was said and done, the total loss associated with the scandal was close to pounds 2.5 billion (Evans after and before and therefore the stakeholders were able to identify particular drivers for crisis and their interaction with the organisational culture. Organisational level factors, such as culture, configuration, systems and stakeholders are important elements to consider in analysing SocGens vulnerability to crisis. As in many cases, in the immediate aftermath of a crisis, there are a lot of reports of individuals mistakes as well as actions which may have led directly to the crisis. It also takes the form of scapegoating. The role of the individual, Mr Kerviels is only part of the game and draws upon the notion of human error by Reason (1990). Reason has argued that in many occasions we are unable to understand, prevent and also mitigate the impact of an individuals action until we have a concise understanding of the fact that action, or mistake, is a symptom of wider organisational failures. In this case the systematic failure (where can this be identified from the case and what kind of system can this be referred to, i.e a loosely or tightly coupled system?) of internal controls SocGen played a huge role in the whole episode th at eventually led to the losses (McEachern 2008). In later interviews with bank executives, board members as well as investigators along with rival bankers and Mr Kerviels own testimony to the French prosecutors that have revealed a overconfident, hard-driving culture that had become part of SocGen which allowed even a middle ranking trader to repeatedly make huge bets with the banks money without getting detected. The fact that Mr Kerviel had knowledge about the computer and internal controls systems at Soc Gen as a result of his last position before becoming a trader allowed him to abuse the system. Risk managers were only part to be blamed for the Soc Gen scandal. Jerome Kerviel, was working as a trader on the junior desk at headquarters in Paris, knew very well how to dodge the risk management system in place since he had already worked in the back and also middle office between the years 2000 and 2005 before he became a trader, making it almost impossible to detect the fraud. As he knew the system well, he knew how he could avoid his transactions being detected. No risk management system is totally reliable and there are always backdoor grey areas in which transactions can be undertaken without triggering monitoring activities (Mulcahy & McGinn 2008). One of the keys to this problem is to have an outside system for monitoring activities. The risk management system was made by programmers at Soc Gen and therefore there was more information and in turn vulnerability for an abuse of the system. As with a lot of other financial frauds over the last decade or so, the crisis was systemic failure, an due to multiple failures inside and outside the organisation. The basic principles of risk management had not been respected in the Soc Gen scandal. It was a procedural breakdown on the whole. In a report on the trading losses, French regulators have revealed that previous inspections by the banking commission operating under Bank of France had discovered weaknesses in Societe Generales control system back 2006 which had led to a serried of recommendations for strengthening the security of operations. Certain mechanisms of the internal controls failed to function at Societe Generale, and the ones which functioned were not properly taken up by appropriate modifications. French economy minister Christine Lagarde in her report to the Prime Minister on the fraud case said that the banks management needs to be fully implicated in risk control, most apparent by creating committees as par t of governance structures which are dedicated to risk supervision as well as internal controls. As is often the case with such fraud scandals, Kerviel had built up too much control illustrating a lack of supervisory procedures as well as lax monitoring from the systems standpoint. All this points to a systematic failure at the bank and the way it ran its internal control systems. Risk management is the process of managing uncertainty that arises in the normal course of activities, including those related to business ventures. Business risks can assume many forms. In the case of Soc Gen a failure to properly assess individual risk factors and do something about them was the key to the whole issue. Various other types of risks impacted Soc Gen as a result including strategic risk, business risk, and reputational risk, among many others like non-financial operating risks (theoretical discussion, highly unnecessary). It is believed by some that the banks management concentrated too much on the credit risk, or the risk that a counterparty will fail to perform as expected on a contractual obligation, leading to a loss; market risk, or the risk that movements in an underlying asset or index will create a loss; and liquidity risk, or the risk that assets cannot be liquidated or funding sources cannot be accessed without creating a loss as a result of the Sub-prime ex posure in America along with the financial crisis in that time period. They failed to properly asses the operational risk which is also an important area of risk management. The same goes for the risk of loss due to flaws or failures in control processes. All risks therefore has to be included in official trading systems, without exception; failure to do so leaves a firm subject to operational risks and possible fraud. A risk process cannot function properly without clear governance. The lack of separation between front- and back-office activities and the failure of market/credit risk controls are just two of the many by-products of an ill-defined governance process. Previous failures like that at Barings had already called for independence between front- and back-office activities, a practice that most firms have but Soc Gen failed to do this on the human resource side of the equation. Crisis preparation has been at the hub of quite a few studies of crisis management, the most significant of which was done by Pearson and Mitroff (1993) in which five stages of crisis management were summarized: signal detection, preparation/prevention, containment/damage limitation, recovery, and learning. The first and second stages Signal Detection and Preparation/Prevention make up the practical types of crisis management. If carried out effectively successfully, then, these activities can prevent many potential crises from taking place in the first place. The third and fourth stages Containment/Damage limitation and Recovery make up the reactive activities carried out after a crisis has occurred and they are called Crash Management. The fifth stage The learning phase concerns the interactive phase of crisis management. This phase can be brought about by as a part of a crisis management planning in the absence of an actual crisis or as an effect of the experience of the crisis. ( Theoretical discussion) The relationship between organisational learning and crisis is also clear in the Soc Gen trading scandal. According to the Audit Committees report, all of the futures positions held have been checked against the counterparty (clearer) and specific control procedures have been implemented subsequently so that the loop holes that became apparent by the activities of trader to avoid controls can no longer repeat themselves. Beyond this, further controls are also planned and the bank has promised that substantial human resources would be mobilized for this along with the support of outside fraud specialists. List of References Reason, J. (1990), Human Error, Cambridge University Press, Cambridge. Carol Matlack 2008. SocGen's Changing of the Guard. Business Week (Online), April 21, Val Mulcahy, Carol McGinn. 2008. SocGen Falls into a Familiar Hole: Protect Your Shop with Back-to-Basics Controls. The RMA Journal, April 1, 58-63,9. Cristina McEachern 2008. CONFESSIONS of a ROGUE TRADER. Wall Street Graeme Evans, Steve Pain. 2008. Societe Generale takes pounds 2.5bn rogue trader hit ; BANKING :[FIRST Edition]. Birmingham Post, February 22,
Posted by J at 8:32 AM
Wednesday, November 27, 2019
Masters Dissertation Writing Tips Masters Dissertation Writing Tips There are several important tasks every student has to face during the process of studying, and writing a masters dissertation is one of them. The first thing worth mentioning about a dissertation is that it needs to be done well in order to get a masters degree. So, as you can see, we shouldnt underestimate all the responsibility of writing such kind of a task. Needless to say, that such a big responsibility makes you feel worried and tense all the time, even if you have enough time and there is no obvious reason for that. It seems like every student has fear for deadlines. Well, it is clear why: writing is a creative task and creativity shouldnt be limited by anything. On the other hand, even if you are pressed for time, you can write faster and cope with your tasks more effectively. Lets try to figure out how to do it right. The first step is choosing a topic you are interested in. You must be sure there is enough information to use for the topic you choose. Moreover, it should be relevant so that your teachers are also interested in what they are going to read. Try to look back at everything youve learned before and understand what particular topic was interesting for you. You may also choose something new, but be sure to consult your teacher to know whether it is suitable for your task. Your next step should be gathering all the necessary information before you will start writing. Once youve done that, make a plan in order to know the structure of a paper you are going to write. Take your notebook with you wherever you go because good ideas can come out of the blue. When you finally start writing, you should clearly see the outline of your paper. Do not put this stage off because you need to have enough time to edit and proofread your paper in the end. Keep in mind that you are writing an academic paper, so your language should be formal. No jargon or slang is accepted here. No matter how attentive you are while writing, you should look through your paper when you finish it to see whether there are any mistakes. Follow these tips and dissertation writing wont be a difficulty anymore. All the tips written above will work fine if you have enough time. Otherwise, you will need some help to cope with your task well. One of our experienced writers can help you out with your Masters dissertation. All you need to do is to place an order and tell our writer what kind of task you have and the deadline by which the task should be done. Save your time and effort and get the paper you need.
Posted by J at 12:56 AM
Saturday, November 23, 2019
Take the Stress Out of Author Marketing Weve all heard it: You need to spend time building and interacting with your audience. You need a website and a blog. And dont forget about book signings. Facebook, Twitter, Google+ and LinkedIn social interaction should all be regular parts of your weekly marketing habits. They dont happen Im a writer, not a marketer, we complain. Some have hired a publicist to handle all these marketing details, but that can become expensive. There is another option that many writers are now utilizing. Its the growing league of Virtual Assistants (or VAs}. As the title implies, a VA operates virtually, via online and telephone interaction with their clients. Each VA has a unique skillset which she employs, but most are very Internet savvy. The primary function of a VA is to take on tasks delegated to them from their client, so their client can spend their time on their primary focus, in the writerÃ¢â¬â¢s case, writing. Taking on social media posting and interaction is a common task delegated to a VA. They can create your author Facebook page, Twitter account and LinkedIn profiles. Once these are setup, they can create appropriate posts to each of these accounts on a frequency schedule that fits your preference and your budget. Need to create a webpage to announce your next book? CanÃ¢â¬â¢t keep up with your blog postings? Your VA can take care of that for you, too. VA skills are not limited to these types of online marketing tasks. A VA could also arrange for book signings or speaking engagements. They could design postcards or posters to promote a book signing or book release. They could track the status of your submissions to agents and publishers. They could even be your research assistant, collecting data for your historical novel or hunting down sources for a magazine article. Now that IÃ¢â¬â¢ve gotten you all excited about the possibilities of unloading some of those time consuming tasks off your to-do list, the next question youÃ¢â¬â¢ll have is Ã¢â¬â Ã¢â¬Å"How do I find a VA?Ã¢â¬ There are lots of ways to do that. There are companies online that specialize in providing VA services. HireYourVirtualAssistant.com is one, ContemporaryVA.com is another. If youÃ¢â¬â¢d prefer to hire an individual directly, you could post an ad with WAHM.com, a job service newsletter that many VAÃ¢â¬â¢s subscribe too, or on one of the online bidding sites like elance or Guru. Simply inquiring among your network of writers may turn up names of VAÃ¢â¬â¢s that others have used and have been happy with. How much will a VA charge for their services? That can vary greatly. Many will charge HavenÃ¢â¬â¢t you always wanted your own personal assistant? Delegating some of your marketing tasks to a VA can unload a whole lot of stress and be profitable, as well. After all, marketing is all about increasing sales. Hiring a good VA can be one of the best investments you make in your career.
Posted by J at 8:30 AM
Thursday, November 21, 2019
Choose 2 questions - Essay Example This owes to the fact that once such multinational companies are established, they assist in alleviating the living standards of the local people. Some of the multinationals, which have transformed the lives of the people according to the proponents of globalization, include the Apple Inc. and the Coca Cola Company. For instance, the former company has majority of its operations in China. This is owing to the fact that this country offers experienced and cheap labor for such multinational companies. The proponents of multinationals also believe that this is the only way to promote the spirit of globalization. With the market being free, every individual has the right to conduct his business in any country, provided all conditions are right. In short, therefore, the proponents of the multinational corporations focus on the macro level (systemic) analysis of this situation. On the other hand, though, the critics of multinational corporations have a different view on this issue. This is because they focus on it from a sub systemic level of analysis. For instance, the multinationals have been criticized for being the main cause of unemployment in some developing countries. This is despite the fact that the proponents indicate otherwise. For instance, once a multinational corporation is established in a developing country, it threatens the infant industries. The latter may not be in a position to cope with the completion of such large multinational corporations. For that reason, some of the local industries are forced to shut down mostly due to reduced sales. This results to an increased unemployment as people loss jobs. The critics indicate that one of the main advantages of the multinational companies is that they are able to operate on a large scale than the local industries. They have capital and therefore have the ability to ensure that there is the right kind of technology and qualified working force to provide quality goods and services. According to the crit ics, the multinational companies are out to perpetuate their monopolistic powers. Some of these multinational companies come from the developed nations. It is indicated that there is a correlation between the military power and the economic power of any given country. It is for these reasons that majority of critics indicating that the multinationals are out to give more political and military power to some of these countries. Such critics also question the need for globalization. They indicate that globalization has led to many negative effects than it was earlier thought. For instance, it has been challenged for increased unemployment and effect on the local businesses. According to Marxist view, the main beneficiaries of globalization have been the developed countries. They indicate that the main reason why it exists is to enable the developed nations accumulate more wealth especially from the developing nations. For instance, the developed nations have been able to take advantag e of the cheap labor provided by the developing nations. While such corporations make a lot of profits, the employees are not rewarded according to the services that are provided. According to my analysis of the situation, I believe that the sub systemic view (critics), best explains the situation in hand. Most of the developing countries still grapple with the issues
Posted by J at 4:35 AM
Tuesday, November 19, 2019
Culture of Deaf Students - Assignment Example The standard curriculum is designed with teaching-learning taking place to large extent through the spoken word. Teachers mainly give instruction through the spoken word which is inaccessible for many DHH children even with developments in assistive technology (Humphries, et al., 2014, p. 1, C 2,3. line 11-13). The curriculum needs to be adjusted to include more of other modes of learning such as learning by doing to ensure that DHH learners become more engaged in the learning process. It has been proven that learning takes place best when the learner is actively involved. The DHH learners need to have access to communication modalities in the educational setting and beyond. Hearing aids, cued speech, cochlear implants, sign language, sign language interpreter, and other ways of facilitating communication should be incorporated into the learning process extensively (Szymanski, Lutz, Shahan, & Gala, 2013, p. 4, line 14-21). The learners will in this way be actively engaged in the lear ning process. Assistive technology can also be used to enhance access to information in the classroom. Language development is a critical matter in cognitive abilities of DHH learners. Before the age of five, children must be exposed to an accessible language on a frequent and regular basis to facilitate their development of full language competence (Humphries, et al., 2014, p.2, C 1,2. line 2-5). Deprivation of language leads to various cognitive deficits since language is the mode of transfer of information. The curriculum should for this purpose, introduce sign language in the educational curriculum from an early stage; preferably before five years of age. In so doing, the learners become proficient in a language that they will have to use for their entire learning lives.Ã
Posted by J at 9:07 PM
Sunday, November 17, 2019
Media coverage of Big Brother Essay An analysis of how the notorious figure Jade Goody was represented in media coverage of Big Brother. Despite being the second last evicted from the big brother house, and apart from being popular in the public viewers eyes, Jade Goody has been portrayed by the media as a very objectionable individual whom is probably labelled as the worst housemate ever. In The Sun Jade has been exposed, as a stupid and drippy contestant who they strongly feel should be evicted from the house as soon as possible because of their stereotypical ways of commenting about an individual. The language in The Sun is very inadequate, Dated 18 June an article in The Sun uses other contestants in the house as their main evidence of her mouthy manners, which has effected and brought a commotion into many of the media press for Big Brother. Jade aimlessly, is not aware of the outside world. The sun uses slang to get messages across to the reader which puts the readers mind in a state of informality, something they too can have a laugh at. In article the press go a little too deep into her personal life and use a coverage about her jailbird dad to describe her outside life. They use this epithet in order to create tension and prejudice about jades conduct in the Big Brother house. Jade here is represented as a bad girl from a bad family who maybe has a lot of things that she can be contrasted too which stereotypically is the way The Sun label people. Being called a pig and being voted out, as a pig is not a very satisfying way to find out what the press has said about you. Jade in articles written by The Sun. Another headline that starts using her sexuality is the article dated June 19 in which the headline metaphorically refers to the sexual innuendo they make about her and PJ sleeping together, toe-job to blows job is connotation of her sexual life. In that particular article the writer tried to create jade as a person who is annoying as she is referred to as mouthy jade, tearful which doesnt show her as a strong participator at the beginning of something that can alter her way life. Using Jades mothers sexuality lesbian mother affects the public as they are put in spot where they are hypnotised to think that it is wrong to not be heterosexual. To the public reading an article about the sex life of celebrities amuses them and brings entertainment to their minds, however it can be a very sad thing to where the celebrity feels betrayed by people around them. The articles written by The Sun use many personal terms and stories to attract attention that it seems that the media like to exploit her private life to the public for personal rights. But it seems to be lacking in justice because doesnt jade have her rights as an individual? Her mother is described as an unmarried Jackie Budden, which adds to the pile of personal matters. Does it really matter if her mother wasnt married and it shouldnt really have an effect or change o the way jade will carry on winning to second place. The Sun seem very bias, they dont seem to like jade goody because of the fact that her dads in jail, her mothers sexuality and the way it differs from jade. Being a dental nurse has been contrasted to the way she doesnt seem to have helped people like her because in the sun she has been nominated as the nations most hated. It shows that they use her occupation too to describe her failure in the house. Many other types of comparisons are made about jade, for instance in an another article her yawing caught by a camera is contrasted to a baboon mimicking jade which is rather ironic about her nature. Many pictures that are put into the articles by The Sun portray her as an unflattering person, big boobs all carefully selected to make her look unattractive and not someone youd particularly want to follow in step wise. In the Jade should keep her big mouth shut article a picture of disgustingly easting a pizza fits with the heading. Underneath they use an alliteration to bring out the pun in her. Another form of imagery used by The Sun is a picture of her breast falling out of her bikini which has a heading of Jade Boobs again which could be a attire about her weight which isnt a nice way of representing someone. Throughout her time in Big Brother The Sun used many atrocious, narrow-minded comments about Jade to in a sense entertain the readers. However by presenting her as a pig, dimwit and many other forms of pessimistic and notorious descriptions the sun created a hateful and bitter side to jade. Because of the homophobic, stereotypical reputation that The Sun holds it fits the nature of the articles written by them to comment upon her like this. However in The Daily Mirror they use another way of presenting jade. Despite the fact that she may have been named a pig, a cow it doesnt stop them creating the anti-Big Brother campaign, which they take total, sides on Jade. The front page of the Daily Mirror has 3 pictures of Jade looking rather depressed and isolated. She is wearing a crucifix; with a white top, which could be a technique, this paper uses to bring out another side of Jade. Her innocence most likely. The headline starts off with Nobody Loves me, and underneath the picture the reporter has added his feelings but I do. which creates anxiety as well as excitement to the readers of who could be the person who does, and why. The page 10 coverage is rather different to the Suns reports on Jade as here she has been described as not the sharpest pin but who cares. This is a turning point to a debateable question of whether jade is a good or bad contestant. The article includes better pictures of her smiling, looking like she can have fun and as an innocent person. The article itself is optimistic about jade Kevin OSullivan admits that he has sympathy for the divine ms Jade which is rather ironic in sense for those who have just read the sun articles on jade goody. The article uses antonyms from the articles that are very pessimistic about her. The language here is more sympathetic and close to the heart. It seems more comfortable because the reader doesnt have to feel like they are pushed to believe each word. However here she is placed as a poor girl who richly deserves to win. However there are mocks about how she wont win beauty contests and how she is a blonde bumshell- sorry bombshell which shows that the writer in a way does see her as unpleasant he tries to keep it discreet. The article states how the reasons why they have created an anti big brother campaign was because they thought that they too fitted the crowd therefore it was time for a change. This represents jade as another person, here in this article she is not diversely exploited but mildly commented upon. It also seems that because of the fact that the sun has been commented upon by many people the Daily mirror needed to avoid being commented upon too. By creating a kind image to the reader they can help attract more readers. The daily mirror by adopting the title The anti-Big Brother campaign seems to have distanced them from war, since September 11th. By placing another anti subject apart from it helps readers get away from tension and to having some form of gentle entertainment. Both article pity jade however in the sun they use personal comments to create subversion by the readers for jade goody whereas in The Daily mirror they try to create sympathy and warmth. It really is a matter of decisions made by the readers of whom they take sides on. Jade has been presented rather poorly throughout her time in Big Brother due to her looks and personality. By creating her as a person that is ironically a failure in the show they have been able to capture a form gossip column for their readers to enjoy.
Posted by J at 9:38 AM
Thursday, November 14, 2019
Native Son: Society or Personal ResponsibilityÃ Ã Ã Ã Ã Ã Ã Ã Ã Ã Ã¢â¬ËDoes society create people or do people create society.Ã¢â¬â¢ Does oneÃ¢â¬â¢s surroundings create a person or does a society create that personÃ¢â¬â¢s surroundings, ultimately creating a fate for that person. There is a very interesting portrayal of this idea in a book called Native Son by Richard Wright. It gives one an inside look on how a young African-American man grows up in the 1930Ã¢â¬â¢s, how crime affects him and how his surroundings and society have created his life and fate. Ã Bigger Thomas, the young man whoÃ¢â¬â¢s life is portrayed in this striking book, did not necessarily have homicide in his fate. However, throughout all the negative experiences Bigger has experienced, it is not surprising to one how he fell into his situation. Bigger grew up in poverty, without a father, with discrimination leaking from cracks in the walls of his familyÃ¢â¬â¢s one room rat infested apartment. He grew up on the south side, the black area of town, where everyone lived in apartments such as his. This of course was not by choice but by white entrapment, and the oppression and slavery of African-American people and those morals and traditions which are still upheld in this country today. This is not to say that it is completely societyÃ¢â¬â¢s fault; it is everyoneÃ¢â¬â¢s fault through neglecting the obvious. However, even through poverty the south side may have been able to come together to create a basis, a stable place for their children to grow up in. I am not blaming them, though. Racism was obviously rampant and it may have been impossible to come together when everyone was forced to put themselves first. With the theories of racism and hate engrained into society, how easy could it be to break free of discrimination and make something of yourself? Ã¢â¬Å"Down here in Dixie we keep Negroes firmly in their placesÃ¢â¬ (P.324). When so much effort is put into keeping people separate and hating someone, for whatever reason, it gives a person a reason not to care what happens to them in terms of their lives. If nobody else cares what you do, then why should you? I think this is what Bigger felt when he was growing up. I think he also saw white people as such a high power that he was unable to do anything about what he felt was wrong.
Posted by J at 10:10 PM