Crucible Belonging Short Summaries

Important Events in Louisiana History Essay

The State of Louisiana has a vivid and significant past unbeknownst to laymen. These occasions helped shape the image of its way of life and what is the current day United States. In the eighteenth century, this state was set up as a French Colony and inside barely 30 years, was given to the Spanish after the French-Indian War. Control of Louisiana permitted ships from Europe or Mexico to moor from the sea and move inland through the Mississippi stream. The impact of the realms at that point, are as yet continued to today. This state perceives no â€Å"official language† yet a few occupants communicate in French and Spanish. Beside this, the majority of the populace is comprised of Christians because of the impact of its colonizers. During the nineteenth century the most significant occasion was the incorporation of this state to The United States of America. The French held the region at that point however the recently framed United States was stressed that whenever, France could cut off the Mississippi and structure a strangle hold on the current exchange courses. President Thomas Jefferson approved the contact to France to arrange a buy for the region around the waterway to forestall a stranglehold. Napoleon at the time experienced such a large number of mishaps with his arrangement for Louisiana and chose to sell the entire domain. The contact, Robert R. Livingston, stressed that endorsement from Washington may take excessively since a long time ago chose to push through the discussions and went to a cost of fifteen million US Dollars. President Jefferson was astounded from the start yet chose to push through with the buy since it would twofold the government’s current land territory and clear a path for the extension west. This filled in as a point of reference fro the acquisition of domain and didn't spill a solitary drop of blood. It made ready for frontiersmen in the years to come and prepared for the United States to be associated with two incredible seas. In1901, examiners in Louisiana found oil. Alongside ranger service, this presented an influx of financial development which presented monetary development. This reduces the United States’ reliance on remote oil and places worth on this region of land which was recently esteemed distinctly for its openness to the Mississippi stream. Reference List 1. About Louisiana. Louisiana. gov. Last checked 06 May 2008 from http://www. louisiana. gov/wps/wcm/associate/Louisiana. gov/Explore/About+Louisiana/

The effects of implementation Free Essays

One may consider how the school came to be such an excellent spot, that even guests and outsiders delay for adoration. In the first place, in the year 1950-1951 through vigorous Mayor Marcia V. Marino, the school of Sat. We will compose a custom article test on The impacts of usage or then again any comparative subject just for you Request Now Detachment was started to be opened. During those days the school site was absolutely a wild and dwelling place of wild creatures. Fortunately in July 1950, a portion of the unwavering and persevering men in the people of Mr.. Serious De Leon Villain, and Mrs.. Richard Cruz a barrio lieutenant, and P. T. A. President. They made an appeal marked by all the occupants of the spot that the network Is In critical need of a school site and working to house their future and present residents. With God’s favoring the request was allowed and endorsed In August 1952 with Mr.. Potential Antonio being the primary manager. Through his dynamic direction and oversight a school developing was sprung from the great coordination, help and untiring exertion to great individuals of Sat. Detachment. A woman instructor was appointed in the individual of Miss Marcela Orbs to composed Grade I classes. The class was first housed incidentally in a private house until at last a school site has been studied by Engineer Felon Radon and affirmed by the administration under announcement No. 51 Series of 1962 by the late President MacDougal. Promptly In 1953 a P. T. A. Building was built In the school site skewer headed by Mr.. Richard Cruz, the barrio chief, and guardians of the network, with exceptional notice to the late Mr.. Alexandra ABA, the main woodworker who made the school building arrived at Its finish. Year In and year out extra swarmed In until at long last in June 1958-1959 a total essential evaluations were opened under the head educator Mr.. Edgar Artist. Year 1961-1962, transitional classes were opened in this way made Sat. Unit a total primary school. His organization was set apart by the development of one Marco’s type, 2 Type B-An, and one P. T. A. Building. In any case, time flew so quick that continuously 1969-1970. Mr.. Edgar Artist was moved to Room Elementary School and was set by Mrs.. Slalom B. Rodeos got the money for instructor. During his first year of office a changeless fence, flagpole and solid water-fixed latrine was built which were all given by the great individuals of Sat. Unit and simultaneously a Marco’s Type Building was built and finished as well. By 1972-1973, the school got a lion share from the (10%) charge assortment, which made the fruition of two additional structures and P. T. A. assembling presently observed at the west side of the school site. The next year she was advanced Into a Principal, and along with her advancement was the development of another The most effective method to refer with The impacts of execution, Papers

Australia Has Regional and Global Links Essay Example for Free

Australia Has Regional and Global Links Essay Australia has territorial and worldwide connections with different nations for help. This report will depict the favorable circumstances and detriments for Australia that outcome from its Indonesian guide joins which incorporates improving Australia’s notoriety and giving business and preparing chances to individuals. Anyway nation may turn out to be excessively reliant on different nations for help and untrustworthy pioneers may utilize the cash for their own advantages. Above all else, Australia is prominently known to be ‘champions of the underdog’ who have confidence in the ‘fair go’ standard. To not have an abroad guide program is believed to be harsh and even unpatriotic. The Australian Overseas Aid Program contends that most Australians bolster Indonesian guide just in light of the fact that they genuinely care about the individuals who are less wealthy. Help to Indonesia may then support a benevolent connection among them and Australia and the fate of positive trades of social qualities. Furthermore, by giving guide to nations, for example, Indonesia, it gives work and preparing chances to Australians. A great many full and low maintenance employments have been made in government and non-government help organizations just as in private firms. Deliberate guide has been said to profit youngsters looking for work understanding and retirees and jobless individuals looking for beneficial work. The hypothesis is that intentional work gives them important information and work abilities and improves social connections between the two nations. Be that as it may, when there are positives, there are consistently negatives. The impediment for Australia giving guide is that the getting nation of the guide can turn out to be excessively reliant on accepting that cash. Rather than the nation utilizing the guide and getting increasingly autonomous by executing projects and strategies in their nation, they stay subject to the guide. For instance, Australia gives Indonesia around 2 billion dollars per year. This is a worry on the grounds that without Australian guide the individuals of Indonesia would be extremely poor. Moreover, another inconvenience would incorporate deceptive pioneers mishandling the cash. Australian and universal guide every year adds up to a large number of dollars and sadly, must cash is utilized by degenerate pioneers who utilize the assets for their own advantages or to help their private armed forces. Accordingly, the guide doesn't get to the individuals who need it most. In summation, giving guide to different nations will consistently have its points of interest and detriments. As observed from above, Australia profited by giving guide to nations, for example, Indonesia since it gave work and openings for work to Australians and improved Australia’s notoriety. Notwithstanding, giving an excessive amount of right hand could bring about the nation getting excessively free or the cash could be manhandled and utilized for an inappropriate purposes thus, the individuals who need it most don’t get the advantages.

Essay Writing Strategies for Advertising Analysis

Essay Writing Strategies for Advertising AnalysisThere are a few main types of essay topics for advertisement analysis. These include current topics that are most popular with MBA students, as well as more general essay topics that are used in numerous different courses, especially courses that focus on business and finance.In general, the subjects that most students prefer when it comes to advertisement analysis essay topics are current topics in the economy, such as unemployment, mortgage rates, retail sales, etc. They may be forced to choose from a variety of specific topics, depending on the course that they take, but in general these topics are far more popular than general topics that appear in many other courses. This is because current topics provide more scope for research, which is exactly what students are looking for when they are looking for topics for their essay.A slightly less common topic for MBA students is the topic of real estate. In fact, many of these students m ay choose to take a course that focuses on this particular area of business, while others choose to choose a more general examination that focuses on the real estate industry. Because real estate is such a popular area for students to focus on, it is often the topic that has the most advertising focus on the test.The topic of real estate is usually not the focus of a general admission essay, but it can be used as a study guide for the GMAT. However, it is important to note that this is not a direct correlation between real estate and success in the GMAT. The GMAT can be taken any time that you choose, whether it is during school or after graduation. The focus of your essay will always be on what you have learned during your coursework, so you should always include real estate in your essay writing.Another topic that many students will be asked to write is a sample paper, especially if they are taking a more competitive course like an executive MBA course. Sample papers are a great w ay to showcase what youhave learned throughout your four years at university. Your final paper should be comprehensive and well-written, but it will most likely also be the easiest composition that you will write.Many students may also find that they need to do some research before they get started with their essay. This is because there is so much information available in both print and on the internet, and many students find themselves lacking the knowledge to write an effective essay on a particular topic. When looking for a good source of information, it is often easier to do some research on your own first, rather than turn to outside sources to find the answers that you need. Writing an advertisement analysis essay may require you to look to your friends, classmates, or even experts in the field for advice on the best approaches to take.Finally, you will find that the essays that you write for admission will almost always be harder than your entrance essay. Because the admissi on essay is usually written by the admissions committee, they will expect that you know more about the subject matter than what you will actually be doing during the testing period. This is why it is important to have all of the information that you need before you begin your essay writing.Taking thorough preparations before you begin your preparation is the best way to ensure that you have everything that you need to give the best possible presentation. Make sure that you begin your preparation in the same place where you take your exams - a good strategy would be to sign up for an online GMAT practice test so that you can review all of the sections that you may need to cover, before you begin writing.

Reference To State Bank Of Mysore Finance Essay - Free Essay Example

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers with capital deficits to customers with capital surpluses. Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords. The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472. The word bank was borrowed in Middle English from Middle French banque, from Old Italian banca, from Old High German banc, bank bench, counter. Benches were used as desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. One of the oldest items found showing money-changing activity is a silver Greek drachm coin from ancient Hellenic colony Trapezus on the Black Sea, modern Trabzon (350-325 BC) presented in the British Museum in Lond on. The coin shows a bankers table (trapeza) laden with coins, a pun on the name of the city. In fact, even today in Modern Greek the word Trapeza means both a table and a bank. HISTORY The first banks were the merchants of the ancient world that made loans to farmers and traders that carried goods between cities. The first records of such activity, dates back to around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders who were based in temples made loans but also added two important innovations: accepting deposits and changing money. During this period, there is similar evidence of the independent development of lending of money in ancient China and separately in ancient India. Banking, in the modern sense of the word, can be traced to medieval and early Renaissance Italy, to the rich cities in the north such as Florence, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397. The development of banking spread through Europe an d a number of important innovations took place in Amsterdam during the Dutch Republic in the 16th century and in London in the 17th century. During the 20th century, developments in telecommunications and computing resulting in major changes to the way banks operated and allowed them to dramatically increase in size and geographic spread. The Late-2000s financial crisis saw significant number of bank failures, including some of the worlds largest banks, and much debate about bank regulation. In ancient India during the Maurya dynasty (321 to 185 BC), an instrument called adesha was in use, which was an order on a banker desiring him to pay the money of the note to a third person, which corresponds to the definition of a bill of exchange as we understand it today. During the Buddhist period, there was considerable use of these instruments. Merchants in large towns gave letters of credit to one another. BUSINESS MODEL A bank can generate revenue in a variety of different ways including interest, transaction fees and financial advice. The main method is via charging interest on the capital it lends out to customers. The bank profits from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle. Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance. In the past 20 years American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. First, t his includes the Gramm-Leach-Bliley Act, which allows banks again to merge with investment and insurance houses. Merging banking, investment, and insurance functions allows traditional banks to respond to increasing consumer demands for one-stop shopping by enabling cross-selling of products (which, the banks hope, will also increase profitability). Second, they have expanded the use of risk-based pricing from business lending to consumer lending, which means charging higher interest rates to those customers that are considered to be a higher credit risk and thus increased chance of default on loans. This helps to offset the losses from bad loans, lowers the price of loans to those who have better credit histories, and offers credit products to high risk customers who would otherwise be denied credit. Third, they have sought to increase the methods of payment processing available to the general public and business clients. These products include debit cards, prepaid cards, sma rt cards, and credit cards. They make it easier for consumers to conveniently make transactions and smooth their consumption over time (in some countries with underdeveloped financial systems, it is still common to deal strictly in cash, including carrying suitcases filled with cash to purchase a home). STANDARD ACTIVITIES Banks act as payment agents by conducting checking or current accounts for customers, paying check drawn by customers on the bank, and collecting checks deposited to customers current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer, EFTPOS, and automated teller machine (ATM). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a b ank account. Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks for lending savings too. RECENT DEVELOPMENT IN BANKING SECTOR Universal Banking: Universal banking refers to Financial Institution offering all types of financial services under one roof. Thus, for example, besides borrowing and lending for the long term, the development Financial Institutions will be able to borrow/lend for the short-term as well. Multiple delivery channels: Today the technology driven banks are finding various means to reduce costs and reach out to as many customers as possible spread over a diverse area. This has led to using multiple channels of delivery of their products. 1. ATM (Automatic Teller Machine): An ATM is basically a machine that can deliver cash to the customers on demand after authentication. However, nowadays we have ATMs that are used to vend different FMCG products also. An ATM does the basic function of a banks branch, i.e., delivering money on demand. Hence setting of newer branches is not required thereby significantly lowering infrastructure costs. Cost reduction is however possible only when these machines are used. In India, the average cash withdrawal per ATM per day has fallen from 100 last year to 70 this year. Though the number of ATMs since last year, it is not in sync with number of cards issued. Also, there are many dormant cardholders who do not use the ATMs and prefer the teller counters. In spite of these odds, Indian banks are increasing the number of ATMs at a feverish pace. These machines also hold the keys to future operational efficiency. 2. Net Banking: Net banking means carrying out banking transactions via the Internet. Thus the need for a branch is completely eliminated by technology. Also this can view his account details transaction history, order drafts, electronically make payments, transfer funds, check his account position and electronically communicate with the bank through the internet for which he may have wanted to visit the bank branch. Net banking helps a bank spread its reach to the entire world at a fraction of the cost. 3. Phone Banking: This means carrying out of banking transaction through the telephone. A customer can call up the banks helpline or phone banking number to conduct transaction like transfer of funds, making payments , checking of account balances, ordering cheques etc,. This also eliminates the customer of the need to visit the banks branch. 4. Mobile Banking: Banks can now help a customer conduct certain transactions through the Mobile phone with the help of technologies like WAP, SMS, etc., this helps a bank to combine the internet and leverage it to cut costs and at the same time provide its customer the convenience. Thus it can be seen that Tech savvy banks are tapping all the above alternative channels to cut costs improve customer satisfaction. TYPES OF BANKS RETAIL BANKING: Retail banking is one that deals directly with individuals and small businesses. BUSINESS BANKING: Business banking is one that provides services to mid market business. CORPORATE BANKING: Corporate banking is one that is directed at large business entities. PRIVATE BANKING: Private banking is one that provides wealth management services to high net worth individuals and families. INVESTMENT BANKING: Investment banking is one relating to activities on the financial markets. NON PROFIT ORGANISATIONS: These are the banks that are owned by the government and whose main objective is not to earn profit but help the society. ABOUT SUBJECT INTRODUCTION TO FINANCE Finance is the life blood of business. It is rightly termed as the science of money. Finance is very essential for the smooth running of the business. Finance controls the policies, activities and decisions of every business. DEFINITION: FINANCE is that business activity which is concerned with the organization and conversion of capital funds in meeting financial needs and overall objectives of a business enterprise -Wheeler Finance is one of the major elements, which activates the overall growth of the economy. Finance is the lifeblood of economic activity. A well knit financial system directly contributes to the growth of the economy. An efficient financial system calls for the effective performance of financial institutions, financial instruments and financial markets. FINANCE FUNCTION Finance function can be classified into 4 types. They are: Investment Decision One of the most important finance functions is to intelligently allocate capital to long term assets. This activity is also known as capital budgeting. It is important to allocate capital in those long term assets so as to get maximum yield in future. Following are the two aspects of investment decision Evaluation of new investment in terms of profitability Comparison of cut off rate against new investment and prevailing investment. Since the future is uncertain therefore there are difficulties in calculation of expected return. Along with uncertainty comes the risk factor which has to be taken into consideration. This risk factor plays a very significant role in calculating the expected return of the prospective investment. Therefore while considering investment proposal it is important to take into consideration both expected return and the risk involved. Investment decision not only involves allocating capital to long term assets but also involves decisions of using funds which are obtained by selling those assets which become less profitable and less productive. It wise decisions to decompose depreciated assets which are not adding value and utilize those funds in securing other beneficial assets. An opportunity cost of capital needs to be calculating while dissolving such assets. The correct cut off rate is calculated by using this opportunity cost of the required rate of return (RRR). Financial Decision Financial decision is yet another important function which a financial manger must perform. It is important to make wise decisions about when, where and how should a business acquire funds. Funds can be acquired through many ways and channels. Broadly speaking a correct ratio of an equity and debt has to be maintained. This mix of equity capital and debt is known as a firms capital structure. A firm tends to benefit most when the market value of a companys share maximizes this not only is a sign of growth for the firm but also maximizes shareholders wealth. On the other hand the use of debt affects the risk and return of a shareholder. It is more risky though it may increase the return on equity funds. A sound financial structure is said to be one which aims at maximizing shareholders return with minimum risk. In such a scenario the market value of the firm will maximize and hence an optimum capital structure would be achieved. Other than equity and debt there are several other too ls which are used in deciding a firm capital structure. Dividend Decision Earning profit or a positive return is a common aim of all the businesses. But the key function a financial manger performs in case of profitability is to decide whether to distribute all the profits to the shareholder or retain all the profits or distribute part of the profits to the shareholder and retain the other half in the business. Its the financial managers responsibility to decide a optimum dividend policy which maximizes the market value of the firm. Hence an optimum dividend payout ratio is calculated. It is a common practice to pay regular dividends in case of profitability. Another way is to issue bonus shares to existing shareholders. Liquidity Decision It is very important to maintain a liquidity position of a firm to avoid insolvency. Firms profitability, liquidity and risk all are associated with the investment in current assets. In order to maintain a tradeoff between profitability and liquidity it is important to invest sufficient funds in current assets. But since current assets do not earn anything for business therefore a proper calculation must be done before investing in current assets. Current assets should properly be valued and disposed of from time to time once they become non profitable. Currents assets must be used in times of liquidity problems and times of insolvency. FINANCIAL MANAGEMENT Meaning of Financial Management: Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. DEFINITION: Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operation Joseph Massie Scope or Elements: Investment decisions includes investment in fixed assets (called as capital budgeting). Investments in current assets are also a part of investment decisions called as working capital decisions. Financial decisions They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby. Dividend decision The finance manager has to take decision with regards to the net profit distribution. Net profits are generally divided into two: Dividend for shareholders- Dividend and the rate of it has to be decided. Retained profits- Amount of retained profits has to be finalized which will depend upon expansion and diversification plans of the enterprise. OBJECTIVES OF FIANANCIAL MANAGEMENT The financial management is generally concerned with procurement, allocation and control of financial resources of a concern. The objectives can be- To ensure regular and adequate supply of funds to the concern. To ensure adequate returns to the shareholders, this will depend upon the earning capacity, market price of the share and expectations of the shareholders. To ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost. To ensure safety on investment, i.e., funds should be invested in safe ventures so that adequate rate of return can be achieved. To plan a sound capital structure-There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital. FUNCTIONS OF FINANCIAL MANAGEMENT: Estimation of capital requirements: A finance manager has to make estimation with regards to capital requirements of the company. This will depend upon expected costs and profits and future programs and policies of a concern. Estimations have to be made in an adequate manner which increases earning capacity of enterprise. Determination of capital composition: Once the estimation has been made, the capital structure has to be decided. This involves short- term and long- term debt equity analysis. This will depend upon the proportion of equity capital a company is possessing and additional funds which have to be raised from outside parties. Choice of sources of funds: For additional funds to be procured, a company has many choices like- Issue of shares and debentures Loans to be taken from banks and financial institutions Public deposits to be drawn like in form of bonds. Choice of factor will depend on relative merits and demerits of each source and period of finan cing. Investment of funds: The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns is possible. Disposal of surplus: The net profits decisions have to be made by the finance manager. This can be done in two ways: Dividend declaration It includes identifying the rate of dividends and other benefits like bonus. Retained profits The volume has to be decided which will depends upon expansion, innovational, diversification plans of the company. Management of cash: Finance manager has to make decisions with regards to cash management. Cash is required for many purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities, maintenance of enough stock, purchase of raw materials, etc. Financial controls: The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finance s. This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc. FINANCIAL ANALYSIS We know business is mainly concerned with the financial activities. In order to ascertain the financial status of the business every enterprise prepares certain statements, known as financial statements. Financial statements are mainly prepared for decision making purposes but the information as is provided in the financial statements is not adequately helpful in drawing a meaningful conclusion. Thus, an effective analysis and interpretation of financial statement is required. Financial analysis means establishing a meaningful relationship between various items of the two financial statements with each other in such a way that a conclusion is drawn. By financial statements we mean two statements: Profit and loss account or Income Statement Balance Sheet or Position Statement The term financial analysis is also known as analysis and interpretation of financial statements. It refers to establishing meaningful relationship between various items of the two financial stateme nts (income and position statement). It determines the financial strength and weakness of the firm. Analysis of financial statements is an attempt to assess the efficiency and performance of an enterprise. Thus, the analysis and interpretation of financial statements is very essential to measure the efficiency, profitability, financial soundness and future prospects of the business units. Financial analysis serves the following purposes: Measuring the profitability Indicating the trend of achievements Assessing the growth potential of business Comparative position in relation to other firms COMPARATIVE STATEMENT Comparative study of financial statements is the comparison of the financial statements of the business with the previous years financial statements. It enables identification of weak points and applying corrective measures. Practically, two financial statements are prepared in comparative form for analysis purpose. COMPARATIVE BALANCE SHEET: The comparative balance sheet shows the different assets and liabilities of the firm on different dates to make comparison of balances from one date to another. The comparative balance sheet has two columns for the data of original balance sheets. A third column is used to show change (increase / decrease) in figures. The fourth column may be added for giving percentages of increase or decrease. While interpreting comparative Balance Sheet the interpreter is expected to study the following aspects: Current financial position and liquidity position Long term financial position Profitability of the concern TREND ANALYSIS Trend analysis seeks out and examines systematic historical patterns in financial statements or other quantitative data. Such analysis of data overtime can vary from primarily descriptive techniques to more complex cause and effect methods. This module minimizes discussions of cause and effect analysis and focuses on the descriptive methods of trend analysis and two closely related analytical techniques- fluctuation analysis and common size statements analysis. Trend analysis usually involves choosing one fiscal period and then expressing subsequent quantities as a percentage of the data associated with this base period. In the case of an income statement, changes in all items could be assessed in relation to the base period. Significant changes can then be investigated further. Trend analysis is valuable when one wants to use historical data to predict future values or to calculate expected values for comparison to actual current values. Trend analysis is also useful for ide ntifying unexpected variances that may indicate strategic or operational changes or entity weaknesses worthy of additional exploration and analysis. TREND ANALYSIS = NEXT YEAR CURRENT YEAR / CURRENT YEAR *100 CHAPTER 2 RESEARCH STUDY TITLE OF THE STUDY: A study on the FINANCIAL PERFORMANCE COMPARATIVE TREND ANALYSIS OF STATE BANK OF MYSORE (SBM) INTRODUCTION: Finance Finance is the life blood of business. It is rightly termed as the science of money. Finance is very essential for the smooth running of the business. Finance controls the policies, activities and decisions of every business. DEFINITION: FINANCE is that business activity which is concerned with the organization and conversion of capital funds in meeting financial needs and overall objectives of a business enterprise -Wheeler Finance is one of the major elements, which activates the overall growth of the economy. Finance is the lifeblood of economic activity. A well knit financial system directly contributes to the growth of the economy. An efficient financial system calls for the effective performance of financial institutions, financial instruments and financial markets. Financial Analysis We know business is mainly concerned with the financial activities. In order to ascertain the financial status of the business every enterprise prepares certain statements, known as financial statements. Financial statements are mainly prepared for decision making purposes but the information as is provided in the financial statements is not adequately helpful in drawing a meaningful conclusion. Thus, an effective analysis and interpretation of financial statement is required. Financial analysis means establishing a meaningful relationship between various items of the two financial statements with each other in such a way that a conclusion is drawn. By financial statements we mean two statements: Profit and loss account or Income Statement Balance Sheet or Position Statement The term financial analysis is also known as analysis and interpretation of financial statements. It refers to establishing meaningful relationship between various items of the two financial stateme nts (income and position statement). It determines the financial strength and weakness of the firm. Analysis of financial statements is an attempt to assess the efficiency and performance of an enterprise. Thus, the analysis and interpretation of financial statements is very essential to measure the efficiency, profitability, financial soundness and future prospects of the business units. Financial analysis serves the following purposes: Measuring the profitability Indicating the trend of achievements Assessing the growth potential of business Comparative position in relation to other firms Research Design A Research Design is a logical and systematic plan prepared for directing a research study. It specifies the objectives of the study, the methodology and the techniques to be adopted for achieving the objectives. It constitutes the blueprint for the collection, measurement and analysis of data. It is the plan, structure, and strategy of investigation conceived so as to obtain answers to research questions. A research design is the program that guides the investigator in the process of collecting, analyzing and interpreting observation. It provides a systematic plan of procedure for the researcher to follow. It is indispensable for a research project. STATEMENT OF PROBLEM: Banks contribute to the economic development of the country. The current study has been undertaken to analyze the financial strength and stability of State Bank of Mysore, to suggest remedies wherever possible, so as to set the banks progress on the right path and to see if it is able to achieve its objectives. This analysis is also critical and essential to study. This will provide direct benefit to the company. OBJECTIVES OF THE STUDY: To study the financial performance of the bank. To study the trends in the previous four years. To find out the profitability of the Bank. data for this from the bank To provide appropriate solutions to problems that exists. SCOPE OF THE STUDY: This study is conducted at State Bank of Mysore, Bangalore. The current study is conducted with the help of published annual reports of the bank of the years 2008-2012. The study gives an idea about the present financial position of the bank. HYPOTHESIS TESTING: OPERATIONAL DEFINITIONS: METHODOLOGY OF STUDY: Review of Literature Purpose In this project work secondary data are used as a basis of analysis. In this study the financial performance of State Bank of Mysore, only past financial statements like Balance Sheet is studied. The current study has been undertaken to analyze the functioning and financial performance of the bank over the past years and suggest remedies wherever possible so as to set the banks progress on the right path and to see if it is able to achieve its objectives. Method of Review In this project the method used was the 4 year annual report of State Bank of Mysore to analyze the trends in the previous years. In order to get the information regarding the bank and its operations, internet was used. The banks web address also helped to collect information regarding the country wide operations. Benefits of the Literature It facilitates to know types of secondary data, advantages of secondary data. It also helps to know the following: Topic on which similar research has been done Purpose of the earlier similar research Conclusion derived from the earlier research It facilitates to know how this research is different from the earlier one Helped in making this research more specific and precise thereby enabling to analyze the problem systematically. Data Collection Method The sources of data in this study are basically secondary in nature. Secondary data published by State Bank of Mysore is used for the study. Secondary data was collected from annual reports, other brochures and website of the bank. Reference Period A Reference Period of four years has been taken for the analysis i.e., 2008-2009, 2009-2010, 2010-2011, and 2011-2012. By conducting an analysis on a 4 year span, it provides a wider coverage on the operations of the bank and techniques can be brought about in a more effective manner. SAMPLING PLAN AND SAMPLE SIZE: This will not apply for the study as it is a finance topic, more dependent on secondary data. PLAN OF ANALYISIS: Techniques Used Trend Analysis Comparative statements LIMITATIONS OF THE STUDY: The study is limited to banking sector. Time period is one of the limitations of the study. Secondary data is used mainly for the study. Therefore, the limitations of secondary data are applicable to this study as well. The study is limited to the financial performance of State Bank of Mysore. The research was conducted to get an overall view of the firm; as such it was not possible to probe deep into the subject. CHAPTER SCHEME: INTRODUCTION This chapter mentions about information on the Industry Bank and the Subject Finance. RESEARCH STUDY This chapter contains the blue print of the entire project. Research Design is the arrangement of conditions for the collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. It includes all the 10 steps in research design. Introduction, statement of problem, objectives of the study, scope of the study, hypothesis, operational definitions, methodology and sources of data, sampling design, plan of analysis and tools for collection of data, limitations of the study, overview of chapter scheme. COMPANY PROFILE This chapter includes an overview of the company Origin and development, products and services, competitors, organizational structure. DATA ANALYSIS AND INTERPRETATION This chapter includes the comparative trend analysis made from the secondary data obtained from the company such as t he company guide and brochures. With the help of tables and graphs, interpretations were made. Tables and graphs of capital, reserves surplus, deposits, borrowings, other liabilities provisions, total liabilities, cash balance with RBI, balances with bank money at call, investments, advances, fixed assets, other assets, total assets, contingent liability, bills for collection, equity paid up, net worth, capital employed, sales, PBT, PAT, EPS, dividend. FINDINGS, SUGGESTIONS AND CONCLUSION This is the last chapter in the research project which contains summary of findings for the study. Based on the analysis and interpretation, conclusions and suggestions are finally given by the researcher in this chapter.

A Look Into the Field of Agriculture Essay - 2163 Words

History and Development Agriculture has been around for millenniums. It has been around since the beginning of time and has undergone significant developments since the time of the earliest cultivation. It was first thought of in the Fertile Crescent of the Middle East and later spread to northern and southern China, Africa’s Sahel, New Guinea and several regions of the Americas. Agriculture practices such as irrigation, crop rotation, fertilizers, and pesticides have made great strides in the past century to meet the needs of farmers. (Wikipedia) Strawberries have a history that goes back over 2,200 years. Strawberries grew wild in Italy as long ago as 234 B.C. and were discovered in Virginia by the first Europeans while early†¦show more content†¦Ã¢â‚¬Å"Two major agencies were created to regulate trade among the agriculture industry. These included the General Agreement on Trade and Tariffs and the North American Free Trade Agreement.† (Wikipedia) The developm ent of agriculture has gone to levels no one expected. It is very powerful and is needed to survive. Future Growth The future of agriculture and especially strawberry growing can be predicted in many different ways. It really depends on who you are and how you think of the economy. Many say that large agriculture businesses will die out while others say people will always need to eat and will be just fine. â€Å"There are over 52,000 jobs involving agriculture annually.† (Washington State University) Between 1950 and 2000, the aver- age amount of milk produced per cow increased from 5,314 pounds to 18,201 pounds per year, the average yield of corn rose from 39 bushels to 153 bushels per acre, and each farmer in 2000 produced on average 12 times as much farm output per hour worked as a farmer did in 1950. The development of new technology was a primary factor in these improvements. (ers.usda) The first view is the pessimist way of thinking the future will go. They say that because corporations are not producing an equal ratio of food to person, that the business will soon collapse. (Cal Poly) This will cause farming to be more local and not worldwide. With gasShow MoreRelatedRecruiting Strategically : Increasing Enrollment1284 Words   |  6 PagesBaker, Lauri M., et al. Recruiting strategically: increasing enrollment in academic programs of agriculture. Journal of Agricultural Education, vol. 54, no. 3, 2013, pp. 54-64. Academic OneFile, doi: 10.5032/jae.2013.03054 This article speaks about the gap that is present in the field for agriculture jobs, along with a survey about how to improve it. In the five years between 2010 and 2015, there was an estimated 54,400 job openings available for college graduates who held degrees in agriculturalRead MoreThe Influence of Agriculture Educator Essay examples1423 Words   |  6 PagesAgriculture Educator In May of 2010 a group of students dressed in blue corduroy jackets came to Athens Christian School to visit during a chapel service. Georgia FFA state officers, Cain and Filipe, spoke about the endless possibilities one could enjoy while in an organization called FFA. These state officers spoke with confidence and excitement as they talked about agriculture playing a vital role in the lives of students. One major concept they spoke about was how in order to be in FFA one hasRead MoreScience, Technology, Engineering, And Agriculture935 Words   |  4 PagesTechnology, Engineering, Mathematics, and†¦Agriculture? Yes! Ag-ri-cul-ture, ˈa-gri-ËÅ'kÉ™l-chÉ™r: â€Å"the science†¦of cultivating the soil, producing crops, and raising livestock and in varying degrees, the preparation and marketing of the resulting products.† – Merriam-Webster’s Online Dictionary, 2016 Merriam-Webster’s dictionary may define â€Å"agriculture† as something relating to the soil, crops, and livestock, but to me, it is so much more: agriculture is my way of life. As a kid, I went throughRead MoreFarming: Feeding the World Essay893 Words   |  4 PagesThe agriculture field is one of the biggest employers, employing over 155 million people in the United States. What do you think about when you hear the word â€Å"agriculture?† Many people would say farming, but this is not the most common occupation in this field. Farmers make up a fraction of the agricultural jobs at 900,000, but over 2.1 million people own, rent, and claim farming as a primary source of income. The average farm size has dropped from 460 acres in 1990 to 418 acres in 2007, whileRead MoreEssay on Sustainability of Agriculture1329 Words   |  6 PagesWhat is a Sustainable Agriculture? To define the sustainability of agriculture, we must look into the several relationships agriculture has with the basic nature of making something sustainable. In this research literature, we will look at the factual information regarding agricultural practices as they relate to the long-term stability of biodiversity, ecosystems, and Natural resources. We will also compare historical and modern perspectives of economics as they relate to resources and sustainabilityRead MoreBusiness1209 Words   |  5 Pagesexplain my motivation to study the Masters in Sustainable Development in Agriculture offered by Agris Mundus. I completed from Larenstein University of Professional Education in The Netherlands with a Bachelor Honours Degree in Agribusiness and Management. Since 2004 after I completed the degree program, I have gained experience in Business Management through teaching and learning. The Masters in Sustainable Development in Agriculture offered by Agris Mundus will enable me to get more experience in theRead MoreGuidance Systems Save Fuel And Wear On Machines Through Easier Management Of Field Activities1536 Words   |  7 PagesGuidance systems save fuel and wear on machines through easier management of field activities. Reduced operator fatigue and other stress-related factors are hard to measure and their effects are not accounted for in the cost savings from guidance systems. A news article published revealed these stats, â€Å"Relative to total per acre production costs, the estimated savings are 4.5 percent with yield mapping, 2.4 percent with GPS soil mapping, 2.7 percent with guidance systems, and between 3.7 and 3.9Read MoreThe Virginia Agriculture Industry929 Words   |  4 Pagesbillion and proving more than 334,000 jobs in the society, Virginia Agriculture production is among one of the most diverse in the U.S. and the largest industry for Virginia itself (VDACS 2017). The agriculture industry includes not only field productions but also pro cessing and manufacturing industries such as food and beverages processing, textiles, wood products, pulp and paper mills, among others, and due to the link with agriculture, changes in this latter affects in various degrees the whole stateRead MoreEconomic Impact Of Virginia Agriculture Production933 Words   |  4 Pagesbillion and proving more than 334,000 jobs in the society, Virginia Agriculture production is among one of the most diverse in the U.S. and the largest industry for Virginia itself (VDACS 2017). The agriculture industry includes not only field productions, but also processing and manufacturing industries such as food and beverage processing, textiles, wood products, pulp and paper mills, among others, and due to the link with agriculture, changes in this latter affects in various degrees the whole stateRead MoreDustin Peacher . Engl 1302.C09. Professor Mccovery. April985 Words   |  4 Pagesconsequences associated within the field. Genetic Engineering has shown to provide major benefits in the field of medicine and agriculture but is faced with extreme criticism and backlash, specifically on the basis of ethics. To understand the modern concept over field of the Genetic Engineering, one must note that, Genetic Engineering has been around since the early stages of human society. Most prominently is the domestication of plants and animals. Ranchers would look for favorable traits in livestock

Race Is A Social Construction - 1074 Words

1. Explain why scholars and others say that the term â€Å"race† should not be used. Scholars and others argue that the term â€Å"race† should not be used because there is no biological basis for the concept of race. Geneticists have determined that code for physical traits (the key distinguishing characteristic for â€Å"race†) are inherited independently of one another. Any attempts there have been to define race based on genes are futile, because there is no set of genes that everyone within the â€Å"race† has. Scholars argue that race is a social construction. Divisions have been constructed by society. Society tries to put people into different groups, it makes it easier to define people as â€Å"other† 2. What are some of the commonalities people might share with others whom they consider in the same ethnic group? Give examples. Ethnic group, as opposed to race as explained in the previous questions, does have some basis. Commonalities that people share in an ethnic group are language, religion, traditions, or physical features. For example, someone who identifies as ethnically British may celebrate Guy Fawkes day and may practice Christianity and follow the Church of England. However there are also catholic people that can identify as ethnically British. There are many ethnic groups, and just because you share a common trait with someone (religion or language) does not mean that you share an ethnic identity. Another example is that people who identify as ethnically Mexican mayShow MoreRelatedRace And Race : The Social Construction Of Race858 Words   |  4 PagesThe race is an indefinite term, which has not been created from science or research, but more so the idea of what it is. Essentially, race is all about perception. One person may separate races based on a certain category of traits while another pe rson uses totally different guidelines to define what races there are. Race has ultimately been created socially, therefor has no biological components until people connect the two terms. This paper examines the connection between society and race whileRead MoreRace As A Social Construction1679 Words   |  7 PagesAlisha Sparks Dr. Stanley POLS 24 November 2015 Race as a Social Construction When we talk about race, what are we really talking about? The issue of race is a complex issue, with socially ambiguous undertones that have plagued our society for decades. Race has been a marker and maker of stereotypes. Race has been used as a justification for injustice. Whether slavery, Japanese internment, or social and economic exclusion, race has given an avenue for those in power to exclude ones deemed ‘other’Read MoreThe Social Construction Of Race1242 Words   |  5 Pagesfoundation for what appears to be the social construction of race. Somewhere along the lines, eugenics became more about isolating certain human characteristics, like skin color, and relegating them to a hierarchy of societal importance (Norrgard, 2008). Race is simply defined as a pattern-based concept that allows for the general public to draw conclusions based on an individual’s geographical location and thereby predetermining their inclusion into a particular social group (Yudel l, et al., 2016) TheRead MoreRace As A Social Construction822 Words   |  4 Pageswhat is race? The term race is difficult to define as a result of the belief that it is â€Å"racist† to talk about race. Although how do we know what race is if we do not discuss it within society. After much thought I defined race as an individual’s background that may be used to describe their ancestor’s demographics as well as their religion. However, today people tend to put more emphasis on race being the color of an individual’s skin. As discussed in class society does not understand what race is,Read MoreThe Social Construction Of Race1743 Words   |  7 PagesIn The Social Construction of Race, Ian F. Haney Lopez defines race as a social construct that is constantly changing its meaning due to the fickle nature of society. Lopez believes that this fickleness stems from a social climate formed by a variety of factors such as human economic interest, current events , and ideology. There are certain racial definitions however, that have remained mostly the same despite efforts to bring attention to the offensiveness and immorality of such discriminatory thinkingRead MoreThe Social Construction Of Race1638 Words   |  7 Pagesstupid immoral, diseased, lazy, incompetent, and dangerous to the white man’s virtue and social order â€Å"(p.181). Blackness have become objectified in public spaces, they are view as a threat on the street of Toronto, surrounding areas and even in the criminal justice system. In fact this negative stereotype of criminalization have put Black males under scrutiny and constant surveillance. The social construction of race by the dominant belief system are still embedded in society that capitalized on minoritiesRead MoreThe Social Construction Of Race2146 Words   |  9 PagesAbadjivor AFAS 304B Professor Machibya 30 March 2015 The Social Construction of Race The underlying characteristic of race concepts is found in its use of phenotypes and physical differences in order to gain an understanding of why there are different people that exist in the world. These differences have been used in understanding the behaviors, intellect, and the value of humans through connecting different characteristics to different classified races. Using phenotypical differences to understand certainRead MoreRace As A Social Construction966 Words   |  4 PagesRace is a concept only existing in societies with systems of oppression based on social racism. In chapter eleven: Inequality, they discuss how, â€Å"There is nothing intrinsic about, for example, any racial or ethnic group that makes it distinct from any other; race and ethnicity are dynamic, fluid categories that are socially defined†(Ritzer). The oppression of â€Å"superior† groups demonstrates on â€Å"inferior† groups is one consequence of race as a social construction, whic h is to have one’s identity reducedRead MoreSocial Construction of Race1867 Words   |  8 PagesThere is perhaps no bigger and more expansive social construction known to man than the construction of race. In earlier times race meant a tie to national origin, Greek race, Roman race, etc. race underwent a big change in meaning to it’s more contemporary form to distinguish biological differences of physical features and skin color (Wiegman 157). Film and television in this century and the twentieth century have aided and perpetuated stereotypes of race. These stereotypes have been most associatedRead MoreSocial Construction of Race1418 Words   |  6 PagesThe Use of Humor to Poke Fun at the Social Construction of Class: Illustrated in the Film The Jerk through Navin Johnson Money does not last forever. All the money in the world can become the reason why people change their personality and behavior. In the film The Jerk by Carl Reiner, a complete moron struggles to make it through life on his own, until a bizarre invention makes him unbelievably a wealthy man. Navin grew up in Mississippi as an adopted son of a black family, but on his birthday

Personal Statement Personal Injury - 1771 Words

When we hear the word lawyer, we immediately associate it with the filing of cases and courts of law. Similar is the case when it comes to personal injury lawyers. We always assume that personal injury lawyers are related to filing cases in the courts of law when we are personally affected by a disaster or any kind of accident. However, there is much more to a personal injury lawyer than just filing cases and legally representing you in the court of law. The personal injury lawyers are well read when it comes to any legal matters related to the injury you suffer personally. Be it claiming your insurance or be it advising you on how to proceed when you are the victim. These injury lawyers will be you absolute guide in all matters. Having a helping hand of a personal injury lawyer also helps in fastening the procedure of reaching any settlement with the insurance company. But you may think that why hire a lawyer? It is just an insurance claim and the terms are right there! But do you know that claiming insurance is subjected to negotiations where you could get cheated by the insurance company? So you can well assume that having a personal injury lawyer at bay will help you to reach the maximum settlement possible in order to make sure that you are not cheated in any way. Every insurance company consists of insurance adjusters who will be working hard on providing you with as little possible claim as can be given against the documents submitted. However, they will be deliveringShow MoreRelatedMy Personal Statement On My Injury1657 Words   |  7 Pages I was sitting in the quiet wrestling trailer listening to the rustling of pads and the click-clack of cleats on the floor. Of course I was already dressed, my pre game routine always on time unlike my teammates. Ten minutes early is on time and on time is ten minutes late. Everything was tucked in perfectly, every string and undone shoelace was taped down. Our trainer had taped my ankles perfectly, unlike the useless student-trainers who always tried to tape us before Andrew could get to it. MyRead MoreLegal Memorandum on Intentional Infliction of Emotional Distress1298 Words   |  6 PagesMemorandum of Law Statement of Assignment: You have asked me to prepare a legal memorandum on the question of whether our client can gain relief from intentional infliction of emotional distress occurring from witnessing a friend#161;#166;s child being injured by a vehicle that is out of control due to being driven at a high rate of speed through a school zone. Pursuant to your request, this memo includes an analysis of the relevant state and federal law. Issue: Under Kentucky tort lawRead MoreTort Reform And The Civil Justice System1895 Words   |  8 Pagesone will say, â€Å"Isn’t that the lady that burned herself with coffee and then tried to sue for millions of dollars?† People believe they know the details of the case, however one will be able to see, this particular case is often misconstrued. In my personal opinion, after learning and studying the facts of this case, I don’t understand how a human being could be for tort reform after actually learning about the trials and tribulations that certain people in these kinds of cases, especially Stella LiebeckRead MoreCase Analysis : V. J. Foster Phillips Funeral Home, Inc. 2014 Ny Slip Op 504361274 Words   |  6 PagesMobley v. J. Foster Phillips Funeral Home, Inc. 2015 NY slip Op 50436(U) History: Plaintiff’s and Defendant’s were involved in an automobile accident that occurred on 3 November, 2010. Whereby, the Plaintiff’s are suing for personal injury as a result of injuries sustained or allegedly sustained during subject accident. The NY Supreme Court, Queens County decided the case and no lower courts authored any opinion. FACTS: 1. Plaintiff’s, J. Mobley, A. Watson, Michelle Watson, A. WatsonRead MoreInsurance Company Essay1021 Words   |  5 Pages The roads in Kansas City, MO are congested every single day. To make matters worse, many people drive over the posted speed limit. This inevitably leads to motor vehicle accidents. Whenever the motor vehicle accident is serious and leads to personal injury and/or property damage, the driver is required to report the incident to both his insurance company and that of the other party. When you first get involved in a car accident, resist the impulse to immediately call the insurance company, becauseRead MoreSis! Boom! Bah! Humbug! by Rick Reilly Essay example983 Words   |  4 Pagesbecause right away it grasps the readers attention because it is so strongly worded. It was also good that he starts his first paragraph off with a statistic and a fact, but after that the rest of the essay seems to flow with just his own stories and personal opinions of what he thinks about the sport. There are millions of cheerleaders in America and all around the world today. They stand in front of hundreds of fans and try their best to get the crowd pumped up. They stand outside braving the coldRead MoreThe Oliver Versus Brock Case1381 Words   |  6 Pagesduty of care, breach of duty, causation, and damages. Conversely, the defendant must prove their affirmative defense against documented allegations. The Oliver versus Brock case proves the importance of supporting evidence as opposed to hearsay statements, to prove the truth of the matter. In the Oliver versus Brock case, Cathy (Plaintiff) filed a lawsuit against Bryan Whitfield Memorial Hospital of Demopolis and the treating physicians Dr. F.S. Whitfield, Dr. Paul Ketcham and Dr. E.C. Brock (Defendant)Read MoreCourt, All Parties And Their Counsel Of Record1259 Words   |  6 Pagesnegligence and vicarious liability against Hipster, for injuries sustained during the evacuation of Airline Boeing 737 aircraft on February 1, 2 015, in San Diego, California. Tang’s Complaint is deficient on its face and presents no potentially viable claims for relief against Hipster; nor does the complaint meet the pleading requirements under Fed. R. Civ. P. 8(a)(2). This Court should dismiss Tang’s complaint with prejudice. II. STATEMENT OF FACTS Tang boarded a Hipster, Boeing 737 aircraft, flightRead MoreLaw Professional Negligence1496 Words   |  6 Pageswithin their workplace. Breach of these duties will constitute in a criminal case as it is in Alf’s case. On the other hand this event could also be a civil case as Alf can sue Skimpy PLC for compensation for his personal injury. Alf will have to prove that the company caused the injury negligently or without taking reasonable care to avoid injuring others. Alf will also have to prove a duty of care was owed, breach of duty and damaged caused by the breach, then only will the law allow compensationRead MoreThe National Association Of Forensic Economics1339 Words   |  6 Pageshas suffered a fatal accident due to the negligence of another. According to Matthias Kelly s distribution and development, the common law of the UK the objective of any award of damages in personal injuries litigation is to achieve as nearly as possible full compensation for the Claimant in respect of the injury sustained In the UK, prior to 1999, economic damages in such litigation were typically assessed by individual judges using rule of thumb multipliers. There are three relevant types of tables

United States Department Of Justice And The Securities And...

The United States Department of Justice and the Securities and Exchange Commission rarely enforced the Foreign Corrupt Practices Act, enacted in 1977, until 2010— over a decade since its modern reform in 1998. This surge in penalization of unethical acts such as bribery and other methods used to ensure foreign business ventures has been called a â€Å"new era of FCPA enforcement† by the DOJ, resulting in $1.8 billion in payments accrued from domestic firms and their foreign partners, compared to $300,000 in 2000 (Kohler). Because of ambiguity within the legislation, especially the undefined terms â€Å"foreign official† and â€Å"obtain or retain business,† the U.S. government is able to manipulate the FCPA for monetary gain, as well as shape foreign economies based upon their own values. The FCPA was composed with good intentions: to end corrupt trade and to create a more even playing field for American businesses. With that goal in mind, the Act is seemingly viewed as a normative standard to promote fairness, asserting that transparency and accountability are essential to building an honest and open global society. However the unclear articulation of the texts have developed inconsistencies in the way the FPCA is enforced, allowing organizations such as the SEC to utilize its broadness to target businesses, namely through the agencies’ interpretation of who a foreign official is and what it means to obtain or retain business. Firstly, according to the SEC, a foreign official is anyoneShow MoreRelatedForeign Corrupt Practices Act :836 Words   |  4 Pagescitizen of United State and certain foreign issuers of security and foreign companies. The Minor changes were made in the year 1988 and in 1998.Foreign Corrupt Practices Act has two main Provision (a)Accounting Transparency under Securities Exchange Commission, 1934. (b)Bribery of Foreign Officials. Department of Justice (DOJ)and Securities Exchange Commission(SEC) are responsible for enforcement of Foreign Corrupt Practices Act. Powerful influence of both Department of Justice and Securities ExchangeRead MoreThe Foreign Corrupt Practices Act1551 Words   |  7 Pagesforeign officials for the purpose of obtaining or keeping a business. The FCPA was enacted by congress in 1977 due to various reports that were made by the Security and Exchange Commission (SEC). The Security and Exchange Commission (SEC) reported different issues concerning bribery and illegal payments by United Sates companies. The FCPA states that it’s unlawful to make payments to foreign officials; having a corrupt intend that will make a foreign official to misuse his or her position in directingRead MoreThe Scandal Of Healthsouth Corporation Scandal1419 Words   |  6 Pagescorporation participation in actions during a scandal are corrupt, unethical, and illegal. In the United States, the Securities and Exchange Commission (SEC) is typically the government agency that investigates such scandals. One of the most notorious corporate accounting scandals in the United States is the HealthSouth Corporation scandal of 2003. HealthSouth Corporation is one of the United States largest healthcare providers with locations nationwide. A deeper inspection of the HealthSouth scandalRead MoreThe Scandal Of Healthsouth Corporation Scandal1391 Words   |  6 Pagesexecutives of the corporation participation in actions during a scandal are corrupt and illegal. In the United States, the Securities and Exchange Commission (SEC) is typically the government agency that investigates such scandals. One of the most notorious corporate accounting scandals in the United States is the HealthSouth Corporation scandal of 2003. HealthSouth Corporation is one of the United States largest health care providers with locations nationwide. A deeper inspection of the HealthSouth scandalRead MoreDeutsche Bank : A Leading Client Centric Global Universal Bank Essay1629 Words   |  7 Pagesfined a multitude of times. In 2002 the Security Exchange Commission, the New York Stock Exchan ge and National Association of Securities Dealers (who are now known as FINRA) issued Deutsche Bank in total of $1.65 million for noncompliance to observe the requirements relating to the storage of email archives so that they may be reviewed and examined by authorities (Financial Industry Regulatory Authority, FINRA.ORG). In 2003 the security exchange commission fined Deutsche Bank $750,000 due to a violationRead MoreStopping Fraud and Illegal Activities in Organizations that Conduct Their Business Internationally1415 Words   |  6 Pagesa few acts and documents that have been enabled. The Foreign Corrupt Practices Act (FCPA) is a law that congress primarily passed in 1977. This act prohibits businesspersons from bribing foreign officials to secure advantageous contracts. The United States also regulates payments to foreign officials. Giving cash or kind benefits to foreign government officials to obtain business contracts and other favors, this is actually often considered a no rmal practice to do. To reduce such bribery among representativesRead MoreEssay On Foreign Corrupt Practices Act1323 Words   |  6 PagesForeign Corrupt Practices Act (FCPA) was enacted in 1977 to control widespread bribery of foreign officials. Foreign officials are being bribed by United States companies to win business with them. The Foreign Corrupt Practices Act is enforced by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The Department of Justice has a special unit call FCPPA that is within the Criminal Division’s Fraud Section. They have criminal enforcement authority of the business issuingRead MoreThe Black Diamond Ponzi Scheme904 Words   |  4 Pageseleven individuals and a few companies linked to the Black Diamond Ponzi Scheme. According to an U.S. Commodity Futures Trading Commission complaint, Deanna Ray Salazar and her companies Life Plus Group, LLC and Black Diamond Holdings, LLC worked closely with Keith Simmons to make the Ponzi scheme expand (U.S.C.F.T.C, 2015). According to the United States Department of Justice, Federal Bureau of Investigation, Deanna Salazar is 55 year-old woman from Yucca Valley, California (FBI, 2013). Salazar is theRead MoreMain Provisions Of The Foreign Corrupt Policy Act1473 Words   |  6 Pagesof President Jimmy Carter an d is codified at 15 U.S.C. Sections 78-dd-1 et. seq.. During the 1970s the Security and Exchange Commission (SEC) commenced numerous investigations of American businesses and their questionable payments to foreign governmental officials. As a result of these investigations, the Foreign Corrupt Policy Act was proposed. The SEC is the equivalent to police departments, but for corporations. The FCPA was enacted as legislation so as to prevent American corporations from bribingRead MoreWhite Collar Crime: Ponzi Scheme with a Focus on Bernard Madoff1652 Words   |  7 Pagestype of investment scheme, and Bernard Madoff. Madoff is probably one of the most known offenders when it comes to the Ponzi scheme. The U.S. Securities and Exchange Commission (SEC) defines a Ponzi scheme as â€Å"an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors† (U.S. Securities, n.d.). In another words, a person gains the trust of people and asks them to invest money into opportunities that this person claims will produce

Human Rights Watch Australia

Question: Describe about the Human Rights Watch for Australia? Answer: Introduction: Good governance is a necessary element of durable development It is trivial. In east and Southeast Asia, the newly industrialized economy is the main stick of the increasing social advancement and the recent growth of economy. Also It has altered hypothesises and designed outlooks on the economics of development with approximately giving eminence being given to the East Asian values and development-oriented authority or a development State as a optimistic force for growth of economy and social transformation. Human Rights is another burning issue now a days. The rights of human face serious violation because of the increasing power of executive authorities. Human rights are those rights which every human being is is born with (Sano, Alfredsson and Clapp, 2002). Because of different religion, age or other personal factors like colour of skin these rights cannot be denied. Sometime it seems that there are many contradictions between Good Governance and Human Rights, especially then the question of application is come. But in the book Human Rights and Good Governance edited by Hans-Otto Sano, an article Good Governance: How Does It Relate to Human Rights? the author shows that how they are related with each other, and sometime how they sometime cross their limit and harm each-other. But in the conclusion the author found that in practice actually the Good Governance strengthen human right. And also good human rights condition also helps to achieve the main goal of Good Governance that is Development The only democratic country in the world at the present is Australia no bill of national rights. Some wide-ranging form of lawful defence for mandatory rights is otherwise observed as an indispensable balance and check in autonomous domination throughout the world. Without a doubt, no illusion can be found of an autonomous nation that has been raised a lawful system or a new constitution in current years that has not in cooperated some human rights. Why Australia is then has become the exclusion? The response to this can be taken from the past. Even though we and many more have that perception that Australia is one of the youngest countries but in fact it is one of the ancient one in the whole world. The constitution of Australia is still totally as it was when authorised in 1901, the constitution of Australia while goes back to the era of 1850.the colonies of Australia, there legal system and the Australian constitution where envisioned at a time when with the well-known exceptions of bills of rights of 1791 of united states, through a solitary legal instrument were not protected (Chalmers, 2015). Without doubt, in United States there was no such command, on which the legal organisation is considerably based.aferthe 2nd world war and the declaration of universal human rights but till then the system of administration of Australia was in service for decades. Not only has legal system of Australia opposed change but is also old by world provision. This is yet more relevant today, with the last unbeaten vote to modify the Australian Constitution in 1977 when it was altered, in the middle of further things, to fix a retreat age for high court judges as 70 years. An additional eight unproductive schemes are given to the people since then. From the time of 1977 is now the longest period without any transformation in constitution of Australia. Other than this the following longest stage was from 1946 1967. An article by max chalmers has explained that for the 2nd year in the row, Australia has made a shame list of international human rights. We are not only coming last in the international human rights list but have been titled as the biggest human right abusers around the world. There are 5 areas because of which Australia has been most exposed. (NEWS 1 Feb 2015 Human Rights Watch 2015: The 5 Biggest Issues Facing Australia By Max Chalmers) 1) Asylum seekers Australias treatment towards asylum seekers have been overseen to new levels of brutality by the Abbott government. Their indefinite detention and poor and adverse security and not providing right to appeal has enhanced their sufferings. Even UN high commission has criticized Australias refugee policies (WORLD REPORT, 2015). 2) Disabilities rights As per the reports out of the whole Australia, its 45 percentage of population live below or nearly to the line of poverty and the inquiry of the human commission has in the top also found that there are no adequate safeguards and a very poor access for their support. Regardless of this, the role of disability discrimination commissioner was abolished shorty by the coalition government. And have also moved the people off the higher paying disability support pension. 3) Marriage equality This policy was long ago introduced by the Britain conservation party and was quite famous in Australia. In ACT, labour had introduced a law of same sex marriages only to have them turned by the high court and ACT law was passed.. Also despite David Camerons personal support, it was not embraced by the British conservative party- more tory MPs voted against equality than voted for it (Westerman, 2015). It was passed because the vast majority of UK labour MPs voted in favour. 4) The squeeze on free expression The report not only focused on the anti-terror laws newly made but has also criticized overly broad new offense of advocating terrorism and has also declared the restricted areas. Also the attention has been drawn to data retention laws which were pending and has also told the telecommunication industry to retain data for at least two years and give ASIO access. Excellent article by Max Chalmers. However there are some other major human rights abuses being committed by Lib-Lab Australia. (National Australia under the spotlight in Human Rights Watch World Report 2015) 1. The ongoing Australian aboriginal genocide and Australian aboriginal ethnocide. It is estimated that in 1788 there were 300 distinct aboriginal language groups and 750 dialects of which only 150 survive and all but 20 are endangered. On 26 January 1788 the British invasion of Australia was totally destroyed hitch included 600 Australian tribes which were unique and similar number of dialects and the languages. This made the aboriginal genocide of Australia the worst genocide in the history of human (News.com.au, 2015). The avoidable annual rate of death from deprives is 0.4% pa. South Africa which is impoverished and the Australia being one of the richest country have same avoidable rate of death. Huge aboriginal avoidable mortality and retreat from education in first language means an ongoing Australian aboriginal genocide and Australian aboriginal ethnocide. 2. War criminal and serial invader Australia is now engaged in its Seventh Iraq War. Details: Australias First Iraq War (WW1, Australian Flying Corps (AFC; RAAF precursor), 1915); Australias Second Iraq War (WW2, RAN, Basra, in Anglo-Iraq War, 1941); Australias Third Iraq War (Sanctions against Iraq, RAN, 1990-2003, 1.7 million Iraqi deaths from deprivation); Australias Fourth Iraq War (Australian forces to Iraqi Kurdistan, 1991); Australias Fifth Iraq War (Gulf War, RAN, 1990-1991, 0.2 million Iraqis killed); Australias Sixth Iraq War (Invasion and Occupation of Iraq, 2003-2011, 1.5 million fierce deaths, 1.2 million people died from deprivations due the imposed war; Australias Pine Gap is key to targeting US drone strikes, 2008-); Australias Seventh Iraq War (RAAF bombing, Iraq, 2014- ). As a UK lackey or US lackey Australia has variously invaded 70 countries (as compared to its allies the British 193, France 80, the US 70 and Apartheid Israel 12). 3. 80,000 preventable Australian deaths annually. In the list of richest countries, Australia is one of them yet 80,000people of Australia died preventable deaths every year (see Gideon Polya, Australian State Terrorism - Zero Australian Terrorism Deaths, 1 Million Preventable Australian Deaths 10 Million Muslims Killed By US Alliance Since 9-11, Conclusion: Let's not forget another abuse of human rights that is occurring across our country every day. That is the violation of our children's physical integrity by harm caused to them by physical punishment in both the home and in some schools. A right which is given to our children under the Convention on the Rights of the Child which Australia has signed and ratified and in this case deliberately ignored. There are now 44 countries that have made it unlawful in domestic settings. Our closest neighbour, New Zealand banned it in 2007 and it has not yet descended into chaos. Meanwhile in Australia, the deliberate infliction of pain is still used by Christian Schools in both WA and Old, albeit by a tiny fraction of those non-state schools. The point being, that this archaic practice is still legal. White Ribbon Australia, our Australian male-led anti-domestic violence organisation, published its first policy on the Corporal Punishment of Children, last year. It said in part: White Ribbon Australia is committed to preventing violence against women....corporal punishment is identified as both a form of violence and as a variable that may influence a childs later use of violence in adult life. For these reasons, White Ribbon does not condone the use of corporal punishment as a means of discipline. Finally, Rosie Batty, our 2015 Australian of the year has very recently stated that hitting children is wrong but then what does she know about family violence? The value of liberal political institutions is too deeply imbued in popular belief to make such an attempt doomed to failure. Indeed, attacks on liberal democracy are very dangerous, for they are likely to benefit only the right who are often suspicious of the idea of popular government. Rather the traditional broad left strategy of seeking to extend the nature of liberal democracy (e.g. to include provision of a Human Rights Bill or the legal requirement for one vote one value in the Australian Constitution) is far more sensible. It is the extension from the political arena of these demands to the economic and social order that is the basis of a radical strategy. The originators of the 1901 Australian Constitution intentionally avoided the US Bill of Rights model: first, a bill like that could have been used to confront the prevailing White Australia Policy not including the Chinese and others and, next, it might also have created problems in the perspective of the poor handling of Australias aboriginal Peoples at State level. Now those circumstances have changed and so maybe it is time to appraise the bill of rights debate. References: Anderson, J., Stuart, A. and Rossen, I., 2015. Not all negative: Macro justice principles predict positive attitudes towards asylum seekers in Australia.Australian Journal of Psychology, p.n/a-n/a. Chalmers, M., 2015.Human Rights Watch 2015: The 5 Biggest Issues Facing Australia. [online] Available at: [Accessed 12 Feb. 2015]. News.com.au, 2015.Australia under the spotlight in Human Rights Watch World Report 2015. [online] Available at: [Accessed 12 Feb. 2015]. Sano, H., Alfredsson, G. and Clapp, R., 2002.Human rights and good governance. The Hague: Martinus Nijhoff. Skye, L., 2015. How Australian Aboriginal Tiddas (Sisters) Theologians Deal with the Threat of Genocide.Feminist Theology, 23(2), pp.128-142. Westerman, P., 2015. The Uneasy Marriage between Law and Equality.Laws, 4(1), pp.82-90. WORLD REPORT 2015, 2015.Asylum Seekers and Refugees. [online] Available at: [Accessed 12 Feb. 2015].

Risk Management Plan & Strategies for Project - Click to Visit Sample

Questions: Discuss why risk management is so important to the success of the selected project in a letter to the project sponsor. Describe the steps that will be used to develop the Risk Management Plan. Answers: Introduction The purpose of this report is to undertake a detail project management strategic planning and risk management based on a particular project selected for this purpose. The main objective of this paper is to carry out the primary roles and responsibilities involved in a proper Risk Management Strategy and Plan. To achieve this purpose, the study includes a detailed systematic or sequential approach to identify potential risks and develop appropriate risk response, mitigation strategies, monitoring and contingency plans (Dalcher, 2013). The report starts with a brief outline and description of the chosen project and dives into the details of executing the project successfully from the perspective of risk management, mitigation and planning strategies. Project Outline Project Description The particular project selected for this purpose is based on a house building and construction project development scenario. To be more precise, the present study focuses on the fundamental aspects and the major phases of developing a project on building a house. For this purpose, the study is taken forward from the project managers perspective and the project scope is defined. This step essentially includes the creation of WBS or work breakdown structure for planning and scheduling the development and construction of the house (Davidson Frame, 2014). However, for a successful WBS creation, planning proper risk management strategy and contingency steps is specifically essential. Project Work Breakdown Structure (WBS) The WBS for the Building a House project requires identifying the major components of the primary work that is to be accomplished. After that, the major components or tasks are further decomposed according to their corresponding physical and functional characteristics. The different WBS levels clearly demonstrate each of these components and their corresponding sub-components (Davies Brady, 2016). Therefore, the WBS includes the major project deliverables, phases, tasks and activities to be considered for the house-building project. Outline Number Task Name Duration Start Finish Predecessors 0 Building a House 149 days Mon 2/22/16 Thu 9/15/16 1 House structure 91 days Mon 2/22/16 Mon 6/27/16 1.1 Materials 33 days Mon 2/22/16 Wed 4/6/16 1.1.1 define layout and materials 7 days Mon 2/22/16 Tue 3/1/16 1.1.2 Managing delivery 8 days Wed 3/2/16 Fri 3/11/16 3 1.1.3 Onsite storage of materials 18 days Mon 3/14/16 Wed 4/6/16 4 1.2 Timber parts of structure along with interior and exterior walls 84 days Wed 3/2/16 Mon 6/27/16 3 1.2.1 Masonry parts of structure including basement walls 19 days Thu 4/7/16 Tue 5/3/16 2 1.2.2 skeleton works 30 days Wed 3/2/16 Tue 4/12/16 1.2.3 finishes works 18 days Wed 4/13/16 Fri 5/6/16 8 1.2.4 Cladding 7 days Mon 5/9/16 Tue 5/17/16 9 1.2.5 Roofing 21 days Mon 5/9/16 Mon 6/6/16 9 1.2.6 Walls 12 days Mon 5/9/16 Tue 5/24/16 9 1.2.7 installation of mechanical / electrical 11 days Wed 5/25/16 Wed 6/8/16 12 1.2.8 Steel parts of structure including major spans 15 days Tue 6/7/16 Mon 6/27/16 11 2 Scheduling, budget and site management 73 days Tue 6/7/16 Thu 9/15/16 2.1 Feasibility study 9 days Tue 6/7/16 Fri 6/17/16 11 2.2 hardware and software requirements 14 days Mon 6/20/16 Thu 7/7/16 16 2.3 Process requirements 11 days Fri 7/8/16 Fri 7/22/16 17 2.4 Facilities 4 days Mon 6/20/16 Thu 6/23/16 16 2.5 Equipment 6 days Mon 6/20/16 Mon 6/27/16 16 2.6 Stakeholder management 13 days Mon 6/20/16 Wed 7/6/16 16 2.7 Budget planning 7 days Thu 7/7/16 Fri 7/15/16 21 2.8 Budget preparation 17 days Mon 7/18/16 Tue 8/9/16 22 2.9 Communication planning 10 days Wed 8/10/16 Tue 8/23/16 23 2.10 Schedule preparation 17 days Wed 8/24/16 Thu 9/15/16 24 2.11 Managing change 4 days Thu 7/7/16 Tue 7/12/16 21 2.12 Monitoring and measuring progress 9 days Wed 7/13/16 Mon 7/25/16 26 2.13 Procurement 10 days Thu 7/7/16 Wed 7/20/16 21 2.14 Risk assessment 10 days Wed 7/13/16 Tue 7/26/16 26 Table 1: WBS task and subtasks levels (Source: Created by the Author) Figure 1: Work breakdown structure for house-building project (Source: Created by the author) Risk Management Justification Importance of risk management The project managers need to coordinate properly with the stakeholders in order to establish effective risk management strategy and plan, through which the project manager specifically identifies the strengths and weaknesses, threats and opportunities for the building a house project development (Floricel, Michela Piperca, 2016). For the present scenario, the following are the reasons why risk management is essential for executing the house-building project. For successful accomplishment of the house-building and construction project, it is important to consider carefully some of the major factors that may cause hindrance to the smooth flow of the development process. For example, bad or uncertain weather conditions, unclear and ambiguous objectives, non-compliance with particular construction rules, policies or regulations, operational risks, breaches of information and various other kinds of internal as well as external risks involved. With respect to scenario as described above, risk management helps identifying the potential threats and challenges and thereby formulates appropriate strategies and procedures for preventing these identified risks (Hobbs, 2012). In addition to that, it is also essential to execute these formulated strategies at the correct time in a correct manner. Moreover, all of the members directly associated with the project development needs to be adequately aware of the potential risks as well as with the adopted strategies to be able to cooperate with the project team in a proper way. Apart from that, risk management techniques are also significantly important to determine the critical tasks for the project and thereby set appropriate ground rules that facilitate achieving the primary objectives of the house-building project under consideration. Steps for developing risk management plan The detailed steps involved in the process of developing a risk management plan for the present project of house construction under concern are described as follows: Step 1: Establishing the context: the first step deals with identifying the accurate objectives of the stakeholders determine the availability of resources and appropriately recognize the structure that can be adopted for coping with different scenarios that may arise during the development phase (Huemann, 2013). Figure 2: Steps in developing risk management plan (Source: Created by the Author) Step 2: Identifying the potential risks: This step deals with the identification of potential risks by different methods such as by talking to the stakeholders, brainstorming, recognize the major areas of safety concerns that might be faced. Step 3: Assessment of the identified risks: The risk assessment process involves measuring the identified risks based on their probability of occurrence and potential severity of loss. It essentially helps in prioritizing the risks (Hydari, 2013). Step 4: Treating the potential risks: This step deals with defining how each of the risks is to be dealt with i.e. the method or course of action to handle the risks. Step 5: Creating risk management plan: Creation of risk management plan depends on choosing proper measures and controls for mitigation purpose. Step 6: Implementation of the plan: Implementation specifically deals with actualizing the planned methods for mitigating the impacts of risks. Step 7: Evaluating and reviewing the plan: The initial plan may need changes or additional information (Young, 2013). For this purpose a constant review and evaluation of the plan is to be ensured. Project Risks Identification Brainstorming potential risks for house-building project The several types of risks that can be faced in this particular project are discussed underneath: Technical risks: The building a house project can significantly involve different types of potential technical risks associated with the design process, need for exceptions in the blueprint design, construction risks such as accidents (Turner, 2012). External risks: The external risks that this particular project may face can be based on inconsistency in the time, scope or costs, lack of information needed for permits, risks regarding licenses. Late changes or additional needs and requirements in the stakeholder requests, unwillingness of the landowner to sell, changing of priorities, inaccurate assumption at the planning stage, environmental factors and so on. Organizational risks: Organizational risks can include inefficiency of the workers, losing experienced staff at a crucial phase of the development process, unanticipated workload, and inadequacy of planning time and so on (Rose, 2016). Project management risks: Project management risks may include unwanted delays caused by the contractors and consultants, potential errors found in the estimation of costs and scheduling process, lack of coordination and communication, lack of control, improper definition of project scope, deliverables or costs. Performance risks: Performance risks may include inadequate equipment and labor productivity, defects in the works, unsuitability of materials, disputes and conflicts among the labor and so on. Financial and economic risks: The different financial and economic risks include inflation, funding related issues and so on. Security risks: Security risks may include threats such as intrusion, corruption, terrorism, and most importantly negligence. Contractual and legal risks: These types of risks may include delayed resolution of certain major disputes, sudden changes in order negotiations, delay in payments, or extras or contracts or even insolvency of contractor or subcontractors (Randolph, 2014). Societal and political risks: This type of risks can be environmental pressures, different policies and regulations, non-compliance with laws, safety or labor laws, strikes or public disorders (Randolph, 2012). Risk Identification Technique The different risk identification technique applied for identifying the above risks essentially involved recognizing the sources of risks using SWOT analysis. The SWOT analysis helps in pointing out the potential threats as well as the weaknesses for the present project. Figure 3: SWOT analysis for house building project (Source: Created by the Author) Other than Brainstorming and SWOT analysis, three more procedures were adopted for this purpose. These are discussed below: Interview notes: The interview sessions conducted by specialists can yield the sources of business risks from different management levels with respect to their individual concerns. Workshops: This particular risk identification method deals with arranging for workshops, meetings with a group of employees and staffs for identifying risks and their potential impact on the organization. Questionnaires: This technique deals with developing questionnaires to that focuses on the issues and concerns of the staffs to understand the risks and threats involved in the operating environment of the project. Project Risks Assessment Risk matrix for grading the identified risks Likelihood of occurrence Level of severity LOW MEDIUM HIGH LOW 3 2 1 MEDIUM 1 3 2 HIGH 3 2 1 Table 2: Risk matrix (Source: Created by the Author) The risks identified for this project have been prioritized depending on the risk matrix as demonstrated above. Risk Description Occurrence Severity Rank (Prioritization) Status Physical risks (natural catastrophes, geotechnical conditions, weather conditions, accidents etc.) Medium High 2 --- Financial and economic risks (inflation, funding) Low Medium 3 --- Societal and political risks (non-compliance with laws, public disorders) Low High 1 --- Project management risks (delays by the contractors and consultants, lack of coordination and communication) Medium Low 3 --- Contractual and legal risks (payment delay, changes in order negotiation, disputes) High Low 2 --- Table 3: Risk assessment (Source: Created by the Author) Risk Assessment Table Risk Name Risk Description Risk Likelihood Ranking Risk Impact Ranking Risk Impact Description Risk 001 Physical risks including bad weather situations, natural catastrophes and other geotechnical conditions Low High The project cannot be progressed unless the impact is reduced, severe damage may be caused Risk 002 The financial risks may include inflation, fundraising problems Medium Medium The quality of the project Risk 003 The project management risks may involve errors in schedule and cost estimation, delays or lack of communication and coordination among them team members High High The smooth execution of the project is significantly disrupted, deliverables are not properly met Risk 004 Performance risks essentially involves lack of experience and skills among the workers Low High The construction phase involves major flaws that may result in faulty design or development of the house structure Risk 005 Security risks such as intrusion, corruption, terrorism Low High Project development can be entirely hampered or postponed Risk 006 Unanticipated workload, internal conflicts, sudden change in mission Medium Medium The project execution is significantly disrupted and risk mitigation process is applied to reduce the impact Risk 007 External risks such as stakeholder miscommunication, change of priorities, inaccurate planning, supplier disputes High High Immediate risk mitigation is undertaken otherwise the project fails in the long run Risk 008 Social and political risks such as labor strikes, public disorders, non-compliance with laws Medium Medium The project may be postponed or kept on hold, certain phases may be significantly affected Table 4: Risk matrix for grading the identified risk (Source: Created by the Author) Project Risks Responses Strategy Risk description Risk response Associated action Physical risks (natural catastrophes, geotechnical conditions, weather conditions, accidents etc.) Avoidance (elimination) No activity is performed Financial and economic risks (inflation, funding) Reduction (mitigation) Methods are incorporated to reduce the severity Societal and political risks (non-compliance with laws, public disorders) Retention /Accept The loss already occurred is to be accepted Project management risks (delays by the contractors and consultants, lack of coordination and communication) Transfer / Share The risky area is shared with a third party Contractual and legal risks (payment delay, changes in order negotiation, disputes) Retention / Accept The loss already occurred is to be accepted Security risks (corruption intrusion etc.) Transfer / Share The risky area is shared with a third party Table 5: Risk response strategy (Source: Created by the Author) Inputs to risk response strategy planning are essentially the following: Risk management plan: The risk management plan involves the specific method descriptions starting from risk identification, response planning, monitoring and control. Prioritized list of quantified risks: The risks are listed according to their order of priority from high to low risks (Morris, 2013). The probability and impacts of the individual risks associated with them are included in the risk response planning process. Risk thresholds: Risk thresholds are developed and referred to, in case of understanding the potential of the organizations, and identifying the acceptable degree of risks that can be allowed that influences the risk response planning strategies. List of potential responses: The risk identification process requires categorization of individual risks with respect to their probability, impact and particular nature. Risk owners: Project stakeholders play the major role in the decision-making process of risk response planning (Muller Soderlund, 2015). Common risk causes: Other than the input factors as mentioned above, it should also be checked whether or not more than one risks are generated by the same source i.e. a common cause. Tools and techniques to plan risk response for the identified risks: The tools and techniques for formation of the risk response strategy are described below- Avoidance: Risk avoidance specifically deals with eliminating the portion that was causing the risk to occur (Levin, 2013). Risks events are thoroughly assessed for obtaining required information. The project plan is to reduce the scope, requirements, or specification. Transference: Risk transference deals with outsourcing the specific risks to third party and share the risks. It may include passing responsibility or shifting liability (which is called outsourcing). Mitigation: Certain risks are handled with mitigation techniques (Indelicato, 2013). The probability or impact is to be reduced by taking measures such as implementing new course of actions that intend to reduce the specific problems. Acceptance: Risk response also involves another type, namely, risk acceptance. A contingency plan is applied for taking the particular course do as to formulate the most suitable response strategy (Lippe vom Brocke, 2016). Outputs of the risk response strategy development and application: Risk response plan, also known as the risk register, includes the identified risks, risk descriptions, the areas or components of the projects that will be affected by the particular risk as well as the particular project objectives that will be affected by the identified risks. Apart from the risk register, it is also necessary to identify the risk owners and thei corresponding roles and responsibilities that have been assigned to them. outputs of the risk response planning further involves the residual risks, secondary risks as well as the contractual agreements made by transferring outsourcing certain risks to the third parties (Mir Pinnington, 2014). Apart from that, in case of the acceptance risk response plan, the contingency plans are also a part of the output. Risk response strategy forming also involves allocating risk owners to- each of the individual risk. This process has to be performed carefully as it is a very crucial task to select the right owner for the type of risk. Risk register updates also result from applying the risk response strategies (Mastrofini, 2013). The risk register is updated with proper description of the actions associated with the particular risk response. Project management plan updates are also considered one of the outputs of the risk response strategies. These updates specifically decides how the individual risk will be treated and based on that, the plans and strategies are modified. Project document updates are made after identifying the necessary areas for improvements on the managerial aspects (Leybourne, Warburton Kanabar, 2014). These updates mainly result from identification of managerial risks. Risk related contract decisions are usually related with making contractual agreements among the third parties for planning suitable and appropriate risk response. Risk management can further consider establishing subcontracts with proper roles and responsibilities. Apart from that, it also helps deciding whether or not to choose a particular contractor for the house building project. Purchasing and procurement planning refers to the decision, whether or not to purchase certain raw materials for the development purpose. This mainly involves the reviewing of risks associated with purchasing or production decisions (Floricel, Michela Piperca, 2016). The beneficial factor of the risk response strategies is that, the risks can be directly transferred to the sellers or third parties, or the suppliers of the raw materials required for the development process. Updates to the procurement management planning and documentation can also result from risk response planning. Project Risks Responsibility Plan Task description Project Chartering Committee Client Representative Project manager Technology Team Risk manager Risk planning Risk identification Risk analysis Response planning Monitoring and control Table 6: Risk responsibility plan (Source: Created by the Author) Project Risks Monitoring Control Plan The risk monitoring and control is discussed with the specific inputs, tools and techniques and outputs (Ponnappa, 2014). Inputs: inputs for monitoring and controlling risks are essentially as follows: Risk management plan Risk response plan Communication plan Additional risk identification and risk analysis Changes on project scope Tools and techniques: tools and techniques applied for control and monitoring risks: Risk response audits Risk reviews Performance measurement and evaluation Earned value analysis Outputs: usually the outputs of this step are as follows: Change requests Updates to the risk response strategy matrix Risk database Corrective actions Workload plans Updates to the checklist of risk identification Project Risks WBS Budget Updates Risks WBS of Building a house project Figure 3: Building a house project risks WBS (Source: Created by the Author) Budget Updates Tasks Subtasks Employees Duration (days) Budget Totals Ground works $66,000 Concrete works 5 16 $43,000 Excavation 2 14 $23,000 Landscaping $43,568 Pool 7 13 $12,000 Yards 5 24 $12,000 Gardens 6 17 $19,568 Materials $46,050 Delivery 24 $24,900 Storage 20 $21,150 House structure $73,361 Steel 5 23 $12,100 Masonry 9 30 $13,124 Timber 2 11 $24,903 Project management $23,234 Interior $34,243 Services $12,123 Electrical 2 11 $12,120 Security 8 10 $10,000 Cladding $60,150 Roofing 10 20 $31,000 Walls 12 25 $29,150 $3,23,372 Table 7: Budget updates (Source: Created by Author) Project Risks Communications Plan Stakeholder Messages Vehicles Frequency Communicators Feedback Mechanisms Project Sponsor Communicate updated project status Weekly PMO status report Monthly Project Management Team (Project Manager) E-mail, In-person or shared drive Project manager Previous day checkpoint achieved Board meetings Weekly Project Management Team Tele-conference Project Team Providing top down communication and resolution of the issues in team Team meetings Daily Project Team members In-person in a conference room Project chartering committee Correspond status and escalate the issues that need potential resolution. Weekly executive report Weekly Project Sponsor administrative members In-person or shared drive Table 8: Communication plan (Source: Created by the Author) Conclusion The report thoroughly included the risk management strategy and planning activities required for undertaking a project based on building a house. The construction of the house and its different tasks and activities related with the major components of house building and construction are also described. The house construction project essentially involves potential risks that might crop up during the execution of the house construction and development project. In addition to that, the paper also focuses on the specific steps involved in risk management plan such as identification of risks through brainstorming, assessing and prioritizing risks, developing response strategy and plans. Finally, the project also involves the control and monitoring plan for ensuring successful accomplishment of the entire project of building a house. The combination of strategies are important for preventing certain risks by taking adequate measures against such threats as identified in the report with res pect to the particular project selected for this purpose. References Dalcher, D. (2013). The IT Project Management Answer Book. Proj Mgmt Jrnl, 44(5), e1-e1. Davidson Frame, J. (2014). Reconstructing Project Management. Project Management Journal, 45(1), e2-e2. Davies, A., Brady, T. (2016). Explicating the dynamics of project capabilities. International Journal Of Project Management, 34(2), 314-327. Floricel, S., Michela, J., Piperca, S. (2016). Complexity, uncertainty-reduction strategies, and project performance. International Journal Of Project Management. Indelicato, G. (2013). Total Quality Management for Project Management. Proj Mgmt Jrnl, 44(4), e1-e1. Indelicato, G. (2016). 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