Environmental Analysis of Barclays Bank Plc Essay Example

Ecological Analysis of Barclays Bank Plc Essay Example Ecological Analysis of Barclays Bank Plc Paper Natural Analysis of Barclays Bank Plc Paper They face progressively all around educated and vigorous clients, decided administrators, and electorates ho are getting earth mindful. They need to adjust to changing monetary and economic situations, quick changing purchaser needs and desires. Their business is impacted by worldwide financial, political, administrative, innovative and other erratic elements. Thusly, they need to gadget their systems, strategies and tasks to adjust to these adjustments so as to meet partner desires and fulfill shopper needs. In this task, attempt to portray and assess changing business condition of Barclay Bank Pal in the course of the most recent five years. Presentation About Barclay Bank Pal Barclay is a significant worldwide budgetary administrations supplier occupied with retail banking, Mastercards, corporate financial venture banking, riches the executives and speculation the executives administrations with a broad global nearness in Europe, the Americas, Africa and Asia. Barclay Group central command is at 1 Churchill Place in London, UK, yet it has activities everywhere throughout the world, with items and administrations to address the issues of clients and customers in neighborhood markets. With more than 300 years of history and aptitude in banking, Barclay works in more than 50 nations and utilizes in excess of 144,000 individuals. Barclay moves, loans, puts away and retests cash for in excess of 48 million clients and customers around the world. Hierarchical structure Barclay is comprised of Clusters: Global Retail Banking, and Corporate and Investment Banking and Wealth Management, every one of which has various Business Units. The third significant territory of the business is Group Center, which involves all our basic help capacities. I-J Banking Industry Auks banking segment, following the IIS and Japan, is the universes third biggest and thought about preeminent as far as: effectiveness, dynamism and profit for capital. Notwithstanding having one of the biggest business banking ventures, the UK is additionally a significant worldwide community for speculation and private banking. The UK banking parts solid worldwide direction is reflected in the generous remote nearness and sizeable resources of outside banks in London. It administrations 95% of the populace with around 3. 5% of Auks workforce over a million specialists. Banks and budgetary administrations contribute E boycott to the Auks national yield (6. 8% of GAP) and give 25% Of all out enterprise charge (Been) to the UK Government. The fundamental retail banks give over mm accounts, clear boycott exchanges a year and encourage 2. Restriction money tetrahedral every year from its system of more than 30,000 free Atoms. Banks in the UK contribute well over El mm every year to good cause and neighborhood network activities. UK banks are approved and directed by Financial Services Authority under the Financial Services and Markets Act 2000 (FSML). Money related Services Authority is an autonomous non-administrative body which practices legal powers under the FSML. The FSML requires the FSP to seek after four destinations: to keep up trust in the UK money related framework; to advance open comprehension of the budgetary framework; to make sure about a suitable degree f security for customers while perceiving their own duties; and to decrease the extension for monetary wrongdoing. Banks of England is liable for keeping up by and large security of the budgetary framework an entirety. The Bank sets loan costs of UK and is additionally answerable for recognizing and restricting fundamental money related hazard. Examination Barclay bank works practically everywhere throughout the world and consequently its activities are affected by the worldwide financial conditions. Have utilized PESTLE system to depict and assess business condition of Barclay Bank buddy. It classifies natural elements into six primary sorts: political, financial, social, innovative, ecological and lawful. Cross section * Government strength * Taxation strategy * Foreign exchange guidelines * Social government assistance approaches Economic variables * Business cycles * GNP patterns * Interest rates * Money flexibly * Income circulation * Social portability * Lifestyle changes * Attitudes to work and relaxation * Consumerism * Levels of instruction Technological * Government spending on investig ate * Government and industry center around innovative exertion * New revelations/advancement * Speed of innovation move * Rates of oldness Environmental * Environmental security laws * Waste removal Energy utilization Legal * Monopolies enactment * Employment law * Health and wellbeing * item security The adjustment in the business condition of Barclay bank The breakdown of a worldwide lodging bubble, which crested in the IS. S. In 2006, caused the estimations of protections attached to land valuing to plunge from that point, harming budgetary establishments all around. Questions with respect to bank dissolvability, decreases in credit accessibility, and harmed financial specialist certainty affected worldwide securities exchanges, where protections endured huge misfortunes during late 2008 and mid 2009. Economy sees overall eased back during this blundered as credit fixed and universal exchange declined. Governments and national banks reacted with phenomenal financial upgrade, money related strategy extension, and institutional bailouts. The ensuing development of a more extensive arrangement of credit issues in contracts and in corporate loaning, and specifically in business land created credit limit limitations and monetary log jam. An underlying spotlight on financing issues, with the disappointment of Northern Rock caused not by quickly obvious dissolvability/credit quality issues, however by the evaporating of the market for the two protections credit resources and discount subsidizing accessibility. Such financing issues were additionally basic to the issues of Bradford ; Bentley and HOBOS in September/October 2008. The UK economy was formally announced to be in downturn on sixth May 2009. The Office of National Statistics said that Gross household item (GAP) fell by 1. 5% over the most recent three months of 2008, after a 0. 6% withdrawal in the past quarter. Downturn is commonly characterized as two fourth of progressive constrictions in GAP, which implies the UK had been in downturn since July 2008. Modern creation fell by an enormous 3. 9 percent over the quarter, while the prevailing set-indecencies segment fell by one percent. Joblessness had likewise ascended to 2. 47 million in the three months to July 2009. It Was at its most significant level in a long time since May 1995. The KICK economy came out of downturn in 2010, after figures indicated it had developed by 0. % over the most recent three months of 2009. In the second seven day stretch of January 201 0, UK joblessness succumbed to the first run through in multi month. The Auks creation and administration segments each developed by 0. 1% during the quarter. The UK downturn started in the April-to-June qua rter of 2008, and was the longest I-J downturn on record. During year and a half of downturn, open getting expanded to an expected El boycott, while yield drooped by 6%. Effect on Barclay Banks execution Barclay declared record benefits of more than Ell billion for 2009 a 92% ascent on the earlier year. Its presentation driven to a great extent by a solid recovery in its speculation banking arm Barclay Capital. Benefits were additionally supported by offer of store the board business Barclay Global Investors, and the option of the New York tasks of bombed venture bank Lehman Brothers toward the finish of 2008. The BIG deal included E. 3 billion to pre-charge benefits. Barclay Capital contributed E. 5 billion of the banks fundamental benefit of E. 3 billion which was 13% down on sasss E billion. Be that as it may, the banks benefit was profoundly influenced by the worldwide monetary lull and falling apart financial conditions in the UK. Its UK Retail Banking benefit before charge in 2009 diminished 55% (E mm) to Emma (2008: El mm), affected by low loan fees bringing about edge pressure on the store book and expanded impedance charges which together more than balance all around controlled expenses and an improved resources edge. Impedance charges rose to Emma (2008: Emma), mirroring the effect of the financial downturn over the business with proceeded with pressure on corporate liquidity, increasing default rates and lower set qualities. Barclay implemented exacting standards on new charge card applications, utilizing a scoring framework that takes more than 400 factors into account while surveying a candidates likely capacity to deal with their credit. Around half of utilizations for charge cards are declined therefore. Solid salary development (2009) over the portfolio driven by expanded loaning, improved edges and outside trade gains, was balanced by higher weakness charges, driven by the disintegration in the worldwide economy. Disability charges in the worldwide organizations expanded Emma, driven by higher misconducts due to disintegrating monetary conditions. UK portfolio charges were higher because of rising wrongdoings because of the monetary disintegration, particularly in the credit portfolios, and the consideration of Goldfish in UK Cards. The impedance charge in Global Retail and Commercial Banking expanded by 85% (E,mm) to E,mm (2008: E,mm) as charges rose in all portfolios, reflecting breaking down credit conditions over all locales. Weakness charges on advances and advances expanded half (E,mm) to E,mm (2008: E,91 mm). The expansion was basically because of monetary weakening and portfolio development, cash developments and religious philosophy improvements, halfway balance by a compression in advance adjusts. In Investment Banking and Investment Management, disability was comprehensively unaltered at El ,mm (2008: El ,mm). The impedance charge against ready to move resources and switched repurchase understandings expanded by 41 % (Emma) to Emma (2008: Emma), driven by hindrance against credit advertise exposures. Political During 2008, the UK government acted in the financial division to recapit

Life of Wolfgang Amadeus Mozart essays

Life of Wolfgang Amadeus Mozart expositions He demonstrated energy for music at an exceptionally youthful age. At six years old, youthful Mozart was at that point playing before the Austrian sovereign. Mozart voyaged a great deal yet wound up in Vienna forming for Joseph II. Mozart kept in touch with a portion of his most prominent dramas in Vienna, for example, Die Entfhrung aus dem Serail, yet Joseph II revealed to him Too numerous notes, my dear Mozart. Mozart experienced passionate feelings for Aloysia however wedded her more youthful sister Constanze Weber. Mozart carried on with an extraordinary life and delivered incredible shows that didn't in every case please the rulers. In the film Amadeus there were a few shows performed and made by Mozart. There were various sorts of dramas introduced in the film. There was a drama buffa which was a satire, likewise a show for everybody as opposed to the eminence. There were various instruments utilized in the film and the piano was one of the most famous one. The piano was played by Mozart himself, additionally during his youth he played the piano with his eyes shut. The piano assumed a major job in the film since everybody demonstrated their ability on the piano. There was another arranger in Vienna who additionally made for Joseph II that despised Mozart due to his ability. He cherished his music, however he begrudged him and furthermore detested him since he was unable to form such incredible music. Mozart created a show buffa Don Giovanni which should be a comic drama. Mozart additionally created a happy piece which was intended to occupy and didn't have content. The dramas formed during the 1700 have been extraordinary and had more significance than music does now. Despite the fact that, the music in this time is significantly simpler to tune in to than for instance Die Entfhrung aus dem Serail. On the off chance that a young person who didn't have foundation data on shows and were to hear one out, the individual in question won't comprehend the language or what the drama is attempting to speak to. Individuals are increasingly familiar with this periods music rather tha ... <!

Hair. William Faulkner Essay Example | Topics and Well Written Essays - 1000 words

Hair. William Faulkner - Essay Example His separation from the occasions described permits him to be a merciful and touchy reporter, whose sees we believe we can trust, despite the fact that Faulkner deludes us toward the end. He appears to comprehend Hawkshaw's connection to the young lady, and even treats her untimely sexual undertakings with compassion instead of nauseate: nature don't give any consideration to frameworks, not to mention ladies giving any consideration to them I state she was unable to support herself. It wasn't her deficiency (133-4). The story is in three sections, the second clarifying the first by withdrawing in time, and the third achieving the dnouement. Hawkshaw is introduced as a secluded figure in a network, which the pundit Joseph Reed distinguishes similar to a key theme in Faulkner stories. Faulkner without a gathering is without a perspective fundamental for his best story (Reed, 20). The gathering fluctuates from story to story; it tends to be a family, or a specific social gathering, or, as in Hair, an entire town. Hawkshaw is unobtrusively kind to the young lady, and is so self-destroying that when he demands that I'll keep an eye on her, Maxey tells the storyteller that was the first occasion when he at any point heard him talk positive about anything (132). The young ladies' development is caught with fine economy. She strolls quick like young ladies do, at that point makes companions at school and passes not looking toward the window by any stretch of the imagination (132), with the goal that Haw kshaw's commitment to her is now under danger. Before long she got developed quick (133) and she is hitching up the ordinary straightforward gingham and such dresses that a thirteen-year-old youngster should wear (134). Hawkshaw has given her presents, including the doll which he never outlined for anybody around (133), yet it is by all accounts clear to everybody that his enthusiasm for her isn't undesirable. It is valued that there is a real love in his mentality, which is regarded by the others. At the point when the men discuss how she has gone to the terrible, it was while Hawkshaw was not there (134), and when Maxey voices his unrefined doubts - Any elderly person that will mess with a little youngster, he's truly awful - Matt's remark is a censure: the explanation is an ethical one, he thinks she is too youthful to even consider receiving gems from anyone that aint kinfolk to her (136). Part II fills from quite a while ago, and lets us a little route into his actual reasoning, demonstrating that his enthusiasm for the young lady must be not kidding, genuine and profoundly human. He had hitched the Starnes little girl, demonstrating a genuine commitment to her and her government assistance, picking up barbering and heading out to work in Birmingham, Rode mostly in wagons and strolled the rest, returning each late spring to see the young lady (138). He burned through the entirety of his investment funds on her dad's memorial service, and afterward began sparing again for the marriage. He carried on of develop dedication. The storyteller can't pass on Hawkshaw's sadness when she bites the dust. We just have the colossally contacting point of interest of the image and the lock of hair, which both got lost, the hair and the image, via the post office by one way or another (139). He commits himself then to serving her memory in the main way he can, by taking care of the h ome loan on the guardians' home and restoring each April, as on a journey, to clean it The April excursion is completely fundamental to him, similar to a strict recognition. At past bosses' he had surrendered his activity

Conceptual Framework in an Organization-Free-Sample for Students

Question: Talk about the Concept of Conceptual Framework in an Organization. Answer: Presentation: This report has been set up to break down the idea of theoretical system in an association. This report delineates the client about the significance of bookkeeping hypothesis ideas in an association. It has been assessed in this report how a reasonable system causes an association to deal with the bookkeeping and fiscal figures and furthermore help the association to settle on a superior choice about the tasks of the organization and all the money related issues. It has been broke down through this investigation that how theoretical structure encourages an association to meet its objectives. For directing this examination, JB HI FI has been contemplated. Further, it has been examined that how the tasks and business working of the organization get influenced because of applied system. Organization diagram: The fundamental business working of JB HI FI is in the music business. Organization is working its business from a very long while. This organization has been begun in 1974 by Mr. John Barbuto. This firm has started with its first store in Victoria at East Keilor. This association has recorded on the ASX (Australian stock trade) itself and right now, it is in the top rundown in the business as far as piece of the overall industry and income. It offers its customers a tremendous scope of games, music, DVD motion pictures, music and TV appears. As of now, this organization has rolled out numerous improvements into its techniques and money related approaches to upgrade the activities and for business development (JB HI FI, 2017). Calculated structure: Calculated structure is a system which has been set by IASB and FASB to deal with the money related and bookkeeping detailing of an association. Theoretical structures are fundamentally a hypothesis which helps the experts to set up the bookkeeping reports. Theoretical structure consistently manages numerous issues identified with principal money related revealing (IASB, 2006). Right off the bat, the idea of applied system has been taken into 1970. Essentially, this idea has occurred with a shared worry of IASB and FASB. The principle target of calculated structure was setting up the comprehension of last budgetary reports among the inside and outer partners of the organization (ISAB Framework, 2001). This structure manages the bookkeeper to set up the last monetary report. Basic examination of viability of JB HI FI to meet reasonable structure commitment: JB HI FI is in the top organizations in the market of Australia. It has been found through this investigation that JB HI FIs yearly report has been arranged and introduced by the theoretical structure of IASB and (FASB, 2007). It has been discovered that whole subtleties of reasonable structure have been considered by the experts while setting up the last money related reports of the organization (IFRS, 2008). The system has improved the adequacy of the budget summaries of the organization. Fiscal summary of the organization is as per the following: JB HI FI LTD (JBH) INCOME STATEMENT Monetary year finishes in June. AUD in millions aside from per share information. 2016-06 Income 3954 Cost of income 3089 Net benefit 865 Working costs Deals, General and regulatory 1006 Other working costs - 361 All out working costs 644 Working pay 221 Intrigue Expense 4 Other pay (cost) 1 Pay before annual charges 218 Arrangement for personal assessments 66 Minority intrigue Other pay Net gain from proceeding with activities 152 Other Net gain 152 Net gain accessible to regular investors 152 Profit per share Fundamental 1.51 Weakened 1.5 Weighted normal offers remarkable Fundamental 100 Weakened 101 EBITDA 263 JB HI FI LTD (JBH) BALANCE SHEET Monetary year finishes in June. AUD in millions with the exception of per share information. 2016-06 Resources Current resources Money Money and money counterparts 52 All out money 52 Receivables 98 Inventories 546 Prepaid costs Other current resources 6 All out current resources 703 Non-current resources Property, plant and hardware Different properties 419 Property and hardware, at cost 419 Aggregated Depreciation - 236 Property, plant and hardware, net 184 Value and different speculations Generosity 37 Immaterial resources 49 Conceded personal duties 21 All out non-current resources 290 All out resources 992 Liabilities and investors' value Liabilities Current liabilities Records payable 302 Conceded personal duties 11 Conceded incomes Other current liabilities 134 Absolute current liabilities 447 Non-current liabilities Long haul obligation 110 Other long haul liabilities 31 Absolute non-current liabilities 141 Absolute liabilities 588 Investors' value Regular stock 49 Held profit 328 Gathered other complete salary 27 Absolute investors' value 405 Absolute liabilities and investors' value 992 JB HI FI LTD (JBH) Statement of CASH FLOW Financial year finishes in June. AUD in millions aside from per share information. 2016-06 Incomes From Operating Activities Other non-money things 185 Net money gave by working exercises 185 Incomes From Investing Activities Interests in property, plant, and gear - 52 Property, plant, and gear decreases 0 Acquisitions, net Net money utilized for contributing exercises - 52 Incomes From Financing Activities Long haul obligation gave Long haul obligation reimbursement - 30 Normal stock gave 6 Repurchases of treasury stock - 13 Money profits paid - 93 Other financing exercises 0 Net money gave by (utilized for) financing exercises - 131 Impact of swapping scale changes 0 Net change in real money 3 Money at start of period 49 Money at end of period 52 Free Cash Flow Working income 185 Capital consumption - 52 Free income 133 Supplemental timetable of income information Money made good on for annual charges - 66 Money paid for premium - 4 (Bloomberg, 2017) It has been broke down through investigation over these reports, it has been discovered that the adequacy of the last monetary report of the organization has been improved. Organization has followed each rule of theoretical structure to endeavor the best introduction and arrangement of last budgetary reports (IASB, 2006 and IASB 2007 b). These reports portray the best data about the companys execution to each client. It has upgraded the comprehension of each client about the budgetary figures of the organization. Organization has followed all the states of IASB and FASB and arranged the reports as needs be. (Jones and Wolnizer, 2003). The deterioration procedure, configuration of salary proclamation, organization of monetary record, income articulation position and so forth has been set up by the organization itself to deal with the money related figures of the organization (ICAEW, 2006). It has been discovered that the reports of the organization are currently portraying an exhibition of the organization because of the better use of the variables and figures of the bookkeeping and budgetary terms. It has been discovered that because of the theoretical structure, the exhibition of the organization has been upgraded and because of a decent presentation regarding income, benefits and come back to the investors, interest in the organization has been improved and the generosity of the organization has been upgraded (Deloitte, 2008). Further, clients are likewise ready to comprehend the last reports of the organization and they are additionally settling on the choices as per their capacity to either remain the dedicated client or switch the brand (Jones, 2006). Examination over numerous articles and book, it has been discovered that these organizations should make the reports as indicated by the reasonable system as the fundamental aphorism of calculated structure is to make it simpler for the interior and outer clients to comprehend the last reports and settle on choice as needs be (Brigham and Ehrhardntt, 2013). It has been examined through this reports reasonable systems are very pivotal for an association to upgrade its presentation and make it progressively adequate to get by in the market. Through the assistance of these calculated systems, organization has figured out how to upgrade its presentation. Further, numerous other related viewpoints have additionally been considered and it has been discovered that these are the best approaches which must be trailed by the organization to improve result as far as the benefit and development of the organization. Rundown: It has been investigated through directing an examination over the reasonable system rules of JB HI FI that the presentation of the organization has been improved and because of a decent exhibition as far as income, benefits and come back to the investors, interest in the organization has been upgraded and the generosity of the organization has been upgraded. Further, clients are additionally ready to comprehend the last reports of the comp

SIPA welcomes a domestic policy magazine about universal truths COLUMBIA UNIVERSITY - SIPA Admissions Blog

SIPA welcomes a domestic policy magazine about universal truths COLUMBIA UNIVERSITY - SIPA Admissions Blog Being a part of a school that is always buzzing with discussions of and debates over pressing policy issues, it is hard not to get excited when some of your peers work hard to add another channel to do so. The school and the student body provides numerous platforms for this but the newest addition to the list is the print version of Columbia Public Policy Review (CPPR). CPPR started as a student-lead blog that has been publishing thoughtful and timely policy pieces on pressing US domestic issues. It was founded at the beginning of Spring 2015 with Jen Kim, Caitlin LaCroix, William Colegrave, Thomas Gaffeney, John Olderman and Audrey Yu as the founding board. The inaugural print edition of the magazine was published in November 2016 and features nine articles by SIPA students and faculty. Experience Publishing Inaugural Issue I had a chance to chat with former CPPR board President Erin Kathleen Dostal, who is a second-year Master of Public Administration candidate at SIPA, concentrating in Urban and Social Policy (USP). I asked Erin how the initial experience of gathering articles was like since this was the first print edition of the magazine: “We started looking for authors in May 2016. When you start from the grassroots level, you tap the people you know personally.” Although this was the reason why most students involved with the magazine ended up being USP concentrators, Erin clarified that they had very different backgrounds and interests. Will Jordan, the Editor-in-Chief of the magazine, has experience working for YouGov and a strong quantitative backgroundand chose to write about polling. Camille Gray, on the other hand, is a lawyer and her article focused on the dispute between Apple and the FBI [over the San Bernardino shooting and the contention over U.S. communications laws]. She also elaborated on the publication process: “Putting together the articles was easy in comparison to the other things that needed to be done, like coming up with the layout for the cover. Natasha Avanessians, the Vice President and Treasurer, and I went through piles of New Yorker, Wire, Cosmopolitan to come up with the cover for the magazine.” She also mentioned how her experience of working for a magazine before helped with the process. But while we discussed thesechallenges, she did not forget to acknowledge the amazing efforts put forward by the board members and admired their competency on the job. “The people involved are amazing. Will made sure that everything fit together, going back and forth to the writers with questions and getting the best out of them. Natasha had to make sure all the financial operations ran smoothly. I knew Cathleen Gates from before, who works for Gates Sister Studio, and she gracefully offered to do the cover for the magazine for free.” Policy Focus I was curious to know more how the board selected specific topics to feature in the magazine. It was also interesting to note that the focus of CPPR is solely domestic policies, despite the fact the school has such a diverse and international crowd. Erin shared her view on the matter and I realized how CPPR was different from similar initiatives at SIPA. She said,“We are not exclusionary. The policy areas chosen are very broad and have an impact on a wide range of people, both international and domestic. Besides going to school here, we also live in New York, which in itself is a very international city and it is important for us to know about the domestic policy-making process. Given the fact that other similar platforms, like the Journal of International Affairs, focus more on international policy, and that the majority of SIPA students are international, CPPR is a unique platform to talk about domestic policies. The content of the magazine, ranging from Obama’s racial legacy t o an aging LGBT population in New York City, attest to the truth in that statement. Events CPPR has partnered with student organizations to host policy dialogues. Erin excitedly highlighted one event from last year where CPPR collaborated with Women in Leadership (WIL) to host “Women Shaping New York’s Policy and Politics.” The event focused on the crucially important topic of female participation in grassroots politics and housed a panel of women serving in a leadership role in the city’s government. Moving Forward The magazine has a new board that has already assumed responsibilities, and Erin hopes that they will publish twice every year. Talking about challenges Erin mentioned, One of the major hurdles faced by the previous board was financing the publication cost. SIPA Student Association (SIPASA) allocated funds for hosting the events, while we had to fundraise to finance the publication of the magazine itself. She is hopeful that fundraising will go smoothly this semester and in the future. In the meantime, the online platform is open and active for any domestic policy related discussion. If you are interested in writing for the Columbia Public Policy Review as a new student next year, send them an email atcppr@gmail.com.

Theories and Factors of Employee Motivation and Reward - Free Essay Example

The Joy of Giving mainly emphasizes a number of ways to reward the employees on a small scale, which has proven to be more effective than large bonuses for many companies. In companies, when the need to make every employee feel an important part of the organization becomes a priority, such gestures which are on an individual or group level play a vital role in fulfilling the need. This are also known as Motivators as they help in boosting the morale of employees and keeps them motivated and driven to fulfill the organizations goals , along with their own personal goals. Motivation is the result of the internal and external factors that stimulate desire and energy in people to be interested in and committed to a job, role, or subject and to exert persistent effort in attaining a goal. It results from factors like the intensity of desire or need, the incentive or reward value of the goal and the expectations of the individual. There are many motivation theories which support the gift giving behavior in the Joy of Giving, however, the study conducted in this paper will be of three of the renowned studies, and discuss them in detail while critically analyzing the methods used in the case study. Frederick Herzbergs Two Factor theory (Kalleberg, A., 1977, pp. 124-143) about the motivation of the employees relates to that certain factors in the work place, which according to him lead to the presence of Job Satisfaction in employees in an organization. The specific factors might vary for every individual; the presence of these will motivate employees and the absence of these would lead to de-motivation among the employees. They will not add much value when they are present, but will cause a lot of damage psychologically to the employees which can result in lower productivity and level of output for the employees. However, they can be distinguished into two major categories, which include: Motivators These include the factors which lead to pos itive satisfaction. The main motivators for most people would be challenging work which requires effort and the successful completion of the tasks would lead to a sense of achievement. This sense of achievement is important according to Maslows Hierarchy of Needs. Also, recognition of work well done would also be a motivating factor, as the employees get acknowledged for the work they do. This gives them the confidence that the work they do is being noticed and is given importance by the organization. Hygiene Factors The other type of factor is the hygiene factor which includes elements like salary, job security, status and fringe benefits. These are the factors, when missing from the organization give immense dissatisfaction to the employees. This Motivator-Hygiene Theory supports the gift giving behavior in the companies mentioned in the Joy of Living. The employees of Brassiere retailer, Bravissimo, have to deal with customers on a regular basis, and in the service indus try, the higher the level of service, the higher the customer loyalty, the better the sales. Therefore, it is even more important in the service industry that the employees understand and implement the vision and the mission of the company policy. There is a difference in fulfilling the job description and taking ownership of the job and going beyond by doing what is best for the organization. The extra mile is taken by the employees when they know they will be rewarded and recognized for it. For this, the company needs to keep the employees satisfied and motivated. One way of doing this, according to the Herzbergs Two Factor Theory is by providing them with motivators, like the little gifts that Bravissimo is already giving to its employees. Bravissimo does not randomly hand out gifts, its a part of the well thought out strategy. They give gifts when at the times when the employee needs to be made felt special. Holiday times, birthdays always have the soft corner in everyones li ves, and when noticed and celebrated by small, thoughtful gestures like a bottle of champagne, chocolate snowmen at Christmas, etc., by the company leads to a strong goodwill, and a loyalty, which is rarely replaceable by generic bonuses to all. The additional factor that Bravissimo takes into account is the factor that it takes feedback from the employees to keep its gift giving up to date, and in tune with the needs of the employees, and corrects its policy wherever its employees feel it is lacking. Another theory that supports the acts of companies like Peppermint PR, which is a communications firm and gives out special rewards to an employee working harder than usual, or going beyond their job description, is the positive reinforcement theory which is a part of the Operant Conditioning. Operant Conditioning is when the environment is operated upon, and the consequences are then maintained. In simpler words, a few factors in the environment are changed, which then leads to the required behavior. The four contexts of the Operant conditioning are listed and discussed below in an organizational setting. Positive Reinforcement This is a form of reinforcement which is used to encourage certain wanted behavior of the employees. For example, the employer would want the employees to go the extra mile to provide better services to their customers, achieve the necessary goal in the time allocated, etc. Such behavior is encouraged by the organization, when it is followed by a stimulus that is rewarding to the employees, which then leads to a repetition in that behavior. For example, a difficult task when achieved within the deadline by an employee can be awarded with an additional bonus, or the effort can be acknowledged at the Reward and Recognition Night of the Company. Negative Reinforcement Such reinforcement is to again encourage certain behavior, but instead of rewarding, it continuously gives a negative stimulus, which is only removed when the certain required behavior is achieved. For example, in the case of an employee, s/he will have a portion of his salary removed till s/he is able to achieve the task at hand within the time allocated to the employee and with the resources allocated. Positive Punishment Positive Punishment is used to discourage an action, this occurs when an action is followed by an unwanted reaction. For example, if an employee falls short on the job, the supervisor can then have a meeting with him/her to give him/her a warning. This will ensure that the employee does not slack off on the job again. Negative Punishment This is to discourage an action by taking away a wanted stimulus. For example, a portion of the salary will be deducted from the employees paycheck, followed by an unwanted behavior. Keeping in accordance with the Positive Reinforcement theory from Operant Conditioning, the Peppermint PR gives out thoughtful gifts to appreciate some work, or extra help that an employ ee provided to the organization, or to another employee, as stated by Carolyn Axtell To be singled outÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.more likely to motivate someone to repeat same positive actions. The factor that Peppermint PR keeps as most important is that individuals should be highlighted, and the gifts should be given soon after the positive behavior demonstrated. According to the Alderfers ERG theory (Boshoff, C. Arnold, C., 2002, pg. 677- 719) there are three types of needs, existence, relatedness needs and growth needs. Existence refers to basic needs that are required for an employee to keep working. Relatedness need refers to the social environment that an employee craves for. Growth refers to the desire for the personal achievement that an employees from a job. A basic salary covers the basic needs, a thriving office environment and culture covers the relatedness needs, whereas, the reward and recognition which leads to the sense of achievement is the highest stage of the three needs. Growth need is very important, and small token of appreciation, such as the gift giving in the companies, can also be used to create that necessary sense of achievement which motivates the employees and drives them to further achieve goals and tasks allocated to them. The gift giving behavior of the companies mentioned, is supported by all three theories. Every theory accepts the need of the basic factor which makes employees join the labor force and an organization, however, more than that is required to keep the employee satisfied, motivated and productive. The pushing factor may vary for different employees in different organizations, however, the gift giving behavior is enjoyed and appreciated by the employees of the above mentioned companies. 2) Reward defined in simple terms is the return for service, or merit. The reward in order to be effective, and noticed, needs to be tangible enough to be seen as recognition of the service or merit. One of the myths from Pffeffer (1998 b, pp. 9-13), is that people work for money. This myth has been believed by people for centuries now. That has been the reason why to reward employees; the employers give the employees the bonuses or raises in the salaries. However, according to the Alderfers ERG theory (2002, pp.677-719), after the existence needs have been fulfilled, other needs like relatedness and growth need to be fulfilled, otherwise, there is no satisfaction in the job. The basic salary is the existence need, but other needs also need to be catered to, to keep the employee motivated. For loyalty, and for rewarding employees, companies like Madgex appreciate the work of the employees with cakes. Such gestures are said to cater to the other needs of the employees, which a basic salary does not fulfill. Hawthorne Studies (Frank Kaul, 1978, pp. 623-643), provides a theory quite contrary to the one which has been implemented by Madgex. Hawthorne Studies cut out the breaks of the e mployees, and brought the women back to longer working hours. This, contrary to popular belief, instead of reducing productivity, it gradually increased it. When studied in detail, it was concluded that the social environment also helps in the productivity of the employees, where they can create the atmosphere of their own choice, where they can socialize, talk, and enjoy the atmosphere they work in. The raised self-esteem of the employees was the reason why the productivity increased. The conclusion of the Hawthorne Studies, (Frank Kaul, 1978) proves that monetary benefits, or material gifts are not always the ones that will lead to an increase in motivation and productivity, a factor like the work environment can also prove to be of great significance. In some cases, to make the employees work harder, factors other than material benefits might need to altered, and in such scenarios, no number of gifts would increase productivity or motivation. The method of giving gifts, ma y not be the most appropriate to increase the self esteem of the employees. If the employees perceive the gifts to be of little value, cheap or meaningless, they will not add value to the employees self esteem, and might even prove to be unfavorable. For example, Recruitment manager at Metaswitch believes that generic gifts should be given to the employees as they would have broader appeal. This would have little value for the employees if the gift is as generic as a bonus, and is not even that value adding. If the employees start perceiving that the gifts are being given to the favorites of the employers, then instead of seeming as a reward, they will start resenting it. If given to too many employees, then the employees who will not receive it will be de-motivated and it might raise a level of frustration. A similar policy is followed at Bravissimo where little-and-often approach is followed while giving out gifts. When these rewards come too often, they become expected and los e their value, and the reason for the gift giving gets nullified. This, instead of increasing motivation will decrease the morale of the employees. There are advantages of giving gifts to employees, but there are also cons if the gift giving strategy is not thoroughly thought out and major factors like the time interval and the number of recipients is not considered. If handled well, the gifts can lift morale, if not, and then it can lead to adverse consequences for the organization and the self esteem of the employees.

The Importance Of Motivation In Education - 1287 Words

Motivation and rewards are very important concepts in an effective educational system. Motivation is the driving force a person has to carry out activities and behaviors. Meanwhile, rewards are the benefits that a person receives or hopes to receive in completing the action or behavior thus providing motivation. This is why rewards are often implemented in education in order to motivate students to learn. However, not all rewards are the same as they can be separated into two different categories: intrinsic and extrinsic. In this paper I will argue that extrinsic rewards should not be heavily relied upon in schools as a motivator for academic success. Before understanding the problems with extrinsic rewards being used in education, it†¦show more content†¦Extrinsic rewards are often utilized within classrooms today. Excellent examples of this would be students receiving candy or gold star stickers for getting answers correctly. These rewards undoubtedly promote motivation for students which explains why educators use them however, I would argue that frequent use of these rewards can be problematic. Some concerns about the frequent use of extrinsic rewards is that it can diminish a student s intrinsic motivation or drive for intrinsic rewards (Bear, Slaughter, Mantz, Farley-Ripple, 2017). Thus a student who was once prideful of their success and driven by a longing to learn could then become instead more concerned and driven by the rewards they are given for their successes. This reminds of a story from a lecture Dr. Schuh presented during my class in Educational Psychology. She told us about a story from when her daughter was in kindergarten. She explained that her daughter was very excited and motivated to learn during her start to kindergarten. However, half way through the school year the teacher began implementing a token economy into the classroom. In this system the teacher implemented a currency of sorts in the classroom in which students could purchase items such as candy and small toys with the tokens they received for success and good behavior. Dr. Schuh became troubled with this system as her daughter started to become noticeably over focusedShow MoreRelatedThe Importance Of Learning Motivation In Education862 Words   |  4 PagesThe importance of learning motivation in education The importance of learning motivation in education is a change of energy in a person which is marked by the emergence of feelings and reactions to achieve a goal. The instructors assignment isnt simply to dealing with training works out, inquiring about, creating, and dealing with an instructive organization, particularly understudies. Instructors are likewise in charge of producing learning, propel students. First of all, before the learning processRead MoreThe Importance Of Motivation On Education And Student Learning976 Words   |  4 PagesThe importance of motivation in education and student learning. No matter who you are, or your age, there is a desire housed within that seeks motivation, which in turn makes an individual work tirelessly to fulfill or satisfy that desire. Individuals possess the need to feel good about themselves which enhances their confidence in order to flourish. Not only do individuals possess motivation, they also have a desire to learn, but this can only be accomplished if an individual applies themselvesRead MoreMotivation in Physical Education1719 Words   |  7 PagesMotivation in Physical Education Problem Statement The health benefits of physical activity are well documented to date. Researchers also are fairly confident as to how often, how much, how long, and what types of activity one must engage in for health enhancing results. Therefore, the reasons to become or to stay physically active are inescapable, and the opportunities to practice health enhancing behaviors are innumerable. The United States Department of Health and Human Services (HHS)Read MoreMother As Motivator Of Motivator Essay920 Words   |  4 PagesMother as Motivator of B.Ed. Trainees for Education Patel Dharmi Baldevbhai Assistant Professor Shri Mahavir Vidhyamandir Trust B.Ed. College Pandesara, Surat. Abstracts: Motivation is the desire or drive within a person to achieve some goal. Mother’s role as a motivator is challenging for her child’s educational development. Objectives of the study are to know the qualities and to know the thoughts of mother as motivator for B.Ed. trainees. 147 trainees of 10 B.Ed. colleges affiliated with VNSGURead MoreStudent Engagement Is An Ideal That Should Be Strived For The Classroom Environment1406 Words   |  6 PagesStudent engagement in learning is an ideal that should be strived for, by teachers in the classroom, as it provides reassurance of their effectiveness. A student’s engagement in learning can directly be linked to their motivational levels as motivation express the students desire to learn and progress in their educational studies. One might struggle to understand the best choice of strategies or concepts in order to facilitate engagement of learning in the classroom environment. Great diversity existsRead More In-Depth Sum mary of Expectancy Theory Essay1243 Words   |  5 Pagescorrelated with education, performance appraisals, and leadership roles in the workplace. When an individual is confronted with a task within the workplace they first assess if the effort that is required will produce a successful performance. Underlying issues such as self-esteem, educational background, and duration of the task all can aid in the individuals perception of probability in achievement. If an individuals perception of the task has a high probability of success, then motivation will ensueRead MoreTechnology In The Classroom1000 Words   |  4 Pageswell-rounded education. â€Å"Using electronic and digital tools is seen as a way to enhance learning and provide a beneficial experience for all students† (Flair 2014). It is my proposal that technology be incorporated into the classrooms at the school district that I teach in. We currently live in age of technology, and the committee feels that the students in the district are at a huge disadvantage not having access to the latest technology that can greatly enhance the education the studentsRead MoreMotivating K-12 Learners in Education 969 Words   |  4 Pages Motivation affects nearly 75% of K-12 learners in education. It is a problem that effects students learning ability, causing them to detach from the classroom setting, which later results in failure on standardize tests. Motivation is very essential in education. It implicates the reason of a childs actions and behaviors in a particular way. The theoretical background for this study centers around ways students interest level arises and fails, and what strategies and activities motivates themRead MoreMy Childhood, Freedom, By Daniel H. Pink1056 Words   |  5 PagesDaniel H. Pink. Pink has revealed a new way of parental education, which maybe a success. Drive is based on motivation and its complex characteristics. The book slowly reveals the intrinsic and extrinsic personalities of motivation. Pink introduces Motivation 2.0, and 3.0. Motivation 2.0 is based on extrinsic motivation and the response to rewards for participation on different aspects of life. Motivation 3.0 is based on intrinsic motivation and the will to create, learn, and better oneself by accomplishingRead More The Importance of Education Essay782 Words   |  4 PagesThe Importance of Education Education has always been a crucial part of society for the past centuries. Some believe that our education is a privilege. Some believe that our education is a right. Some believe that our education is an obligation. The only obligation we might have towards education is to treat it as a privilege as well as a right, but certainly not an obligation to have an education. Education has been the basis for the success we see in our parents, our teachers, and more

Human Trafficking Has Become Modern Day Slavery - Free Essay Example

Sample details Pages: 5 Words: 1534 Downloads: 1 Date added: 2019/04/22 Category Society Essay Level High school Tags: Human Trafficking Essay Slavery Essay Did you like this example? Do you know that over 20 million people are being robbed of their freedom and dignity as of right now? Well, they are being abducted, coerced and deceived by traffickers. As a result; victims have been trafficked for used as forced labor, sex trafficking, debt bondage, forced marriage and the removal of their organs. The Exploiting of human beings dates to Ancient Greece, the Roman Empire and during the medieval period (Aronowitz, 2017). Human trafficking has become modern day slavery for the purpose of exploitation. Human trafficking can be considered forced labor, removal of organs, sexual exploitation, slavery, and prostitution. Over the years, human trafficking has expanded its resources and took places in different areas, where it has become the largest criminal business in the world. Majority of human trafficking victims are minors and are taken against their will. Human Trafficking has become the 21st-century modern day slavery and continues to evolve in 127 countries . In the year of 2000; Congress passed a Trafficking Victims Protection Act to fight against trafficking. However, more solutions and policies must be implemented to stop Human Trafficking because it is still occurring. Human Trafficking abuses human rights, affects victims in numerous ways and is caused by social inequality. Victims are trafficked into a life that is difficult to escape. The largest and most known form of human trafficking is sexual exploitation. Also, its the most profitable source of human trafficking and its a global problem. From a report of 2014, there was an estimated profit of 99 billion dollars (Human Trafficking by the Numbers, 2017). Sexual exploitation is acts in which abuse, force, and coercion are used for the purpose of commercial sex. One of the main reasons why its one of largest forms of trafficking is because of the many types of tactics used to lure women. These types of tactics include: social media, drugging at bars, using family members, an d exploiting vulnerabilities. Although, its considered a global issue, there are still ways to prevent being a victim of it. These include: education, recognizing signs, awareness, and reporting suspicious activity (Gaines, 2012). The slavery of human beings existed as early as 4000 BCE in Mesopotamia; slaves participated in agriculture, domestic and trade labor. As time went on; slavery became more brutal and exploitative because of the Trans-Atlantic Slave Trade. The Trans-Atlantic Slave Trade existed throughout the early modern-day period; slaves were bought and sold including children. Over time the violation of victims escalated; when the White Slave Trade developed. In the 1900s women and children were transported; traded into prostitution and forced to work in brothels (Aronowitz, 2017). The trafficking of human beings expanded over time and now this industry makes over $150 billion per year; where it has become, by far, the third largest global crime industy . Accor ding to The United Nations, 2.5 million people from 127 countries are being trafficked around the world (Petrilliggieri, 2013). Many are trafficked across borders and even within their own countries. Victims are deceived, forced or even abducted into a life of exploitation. The traffickers lured victims by false advertisements, fraud job opportunities and a promised life. Recruiters spot vulnerable people who are looking for a better way to survive due to lack of employment opportunities, or resources. They also look for people who are nave and looking for love because they may lack that attention from their family. This strategy is very powerful; because they know people are constantly searching for something new. Social Media is another way predators disguise themselves. For example, victims are target on Facebook, Twitter, Snap Chat or Instagram. This can happen to anyone because social media is a big part of peoples lives. Social media is obviously designed to connect people ho wever; its easier for recruiters to connect with their next victim. There are many forms of Human Trafficking besides labor and sex trafficking. The three other forms include forced armed combat, forced marriage and the removal of organs. The trafficking of children is very popular. In the year of 2014; The United Nations Childrens Fund reported that at least 6,000 children were recruited by armed groups in the Central African Republic (Aronowitz, 2017). Children are constantly being robbed of their childhood and purity due to human trafficking. Many children are also sold into forced marriage; which is a crime but not highly recognized. The US Department of State reported that 234 girls were kidnapped in Chibok, Nigeria in April 2014. The girls were sold for twelve dollars to be used as wives (Aronowitz, 2017). Human Rights are being abused as we face the 21st-century modern day slavery. In 1948 the United Nations Assembly adopted the Universal Declaration of Human Rights. Th e Human Rights law states that all human beings are born free, equal in dignity and rights. Everyone has a right to be free from slavery or servitude. The human rights law covers basic civil and rights such as a right to education and to receive fair pay. If these principles are so well developed; why are human rights abused and ignored all over the world. According to the American Bar Association; Haddadin and Kl? ­mov?-Alexander states that the UN General Assembly and Human Rights Council have repeatedly affirmed that trafficking violates and impairs fundamental human rights, as have many of the international human rights mechanisms (Vol. 52 No. 1). Human Trafficking not only destroys human rights, but victims are affected by it internally and externally. The impact of Human Trafficking affects victims in many ways. Many victims are forced to work in dangerous working conditions, days without eating, forced to have sex and completely stripped of their dignity. Despite their age, religion, nationality, marital status, or gender, victims have a substantial risk of sexually transmitted infections, unwanted pregnancies, physical, mental and health problems. The International Organization for Migration reports that victims do escape have been so brutalized that they experience lifelong physiological trauma, and according to psychologists, only 30 percent fully recover to live a normal life (Aronowitz, 2017). Victims can experience a delayed progress at school or failure to complete a degree due to the years they have been trafficked. There are many obstacles victims faced. Victims will also have a challenging time maintaining employment because of the psychological and physical effects of trafficking. The root cause of Human Trafficking is surely poverty. Based on poverty statistics and facts; over three billion live on less than $2.50 a day and 22,000 children die each day due to poverty according to the United Nations Childrens Fund (Shah, 2013). Limi ted economic resources can elevate the risk of Human Trafficking. Throughout my research, I read a story on Huff Post News about a Cambodian woman name Mona; who was promised a better life in China instead trafficked into a bride market. Mona was 15 years old at the time when a woman in her mid-30s approached her offering an opportunity in China. Because her family was very poor and in debt; she accepted the opportunity. Mona became pregnant when she was forced to have sex with a man in China who paid $10,300 for her. Eventually, as time went by she escaped and now is reunited with her family (Maza, 2017). Based on this story, poverty is the root cause due to economic opportunities in many areas and in some countries poverty can push parents to sell their children to traffickers. Their inability to feed, educate or even provide the basic needs of their family can be a strong motivating factor for people to seek employment with a promised future. It is no surprise to know what people will do for money today. Eradicating Human Trafficking must happen and there are great solutions for this problem. Economic empowerment can address poverty, lack of economic resources and lack of employment opportunities. Because people should have equal access to medical care, education, pay and everything else. Livelihood programs will alleviate poverty because they provide economic support for example water, food, shelter, clothing, education, and training (Petrilliggieri, 2013). Housing programs should also be required in every state for victims. In conclusion, human trafficking comes in many forms and in all types is considered illegal activity. Over the most recent decades, there has been an increase in activity because of high profits that are obtainable. Of all the types of trafficking, sexual trafficking is still the most profitable and most dangerous to minors and women. There are still ways to prevent being a victim of trafficking, and the main way is to be bett er aware and educated. Implementing more programs will reduce Human Trafficking in many ways. These solutions will allow victims to live a stable life and alleviate poverty. Victims will no longer look or feel vulnerable towards traffickers due to poverty. Economic opportunities will increase and help prevent Human Trafficking. The survivors of Trafficking will be able to complete school, walk in their healing process and lastly; they will have the support and guidance to live a life of prosperity and success. Human Trafficking is caused by social inequality and because of this fast-growing industry; human rights are abused, and victims are affected. Victims of Human Trafficking deserve their freedom and should not be obligated to do anything that goes against their rights. Its time to put an end to Human Trafficking because every life matters and they need our help to make a difference. Don’t waste time! Our writers will create an original "Human Trafficking Has Become Modern Day Slavery" essay for you Create order

Should Marijuana Be Legalized - 1099 Words

Can a drug that is responsible for thousands of arrests each year actually be considered beneficial? Cannabis Sativa, or more commonly know as marijuana, has been previously known as a gateway drug . It is the most commonly used illicit drug amongst varying age groups in the United States. Although there are 85 active cannabinoids in marijuana, two of them make up the plants majority. Tetrahydrocannabinol (THC) is one of the main active cannabinoids in marijuana. Cannabidol (CBD), which makes up 40% of the plants extract, leaves the user with an overall body high making this the main ingredient in marijuana s medical uses. Marijuana is typically smoked but can also be taking orally in forms of oils, baked goods, teas, and candies. Smoking marijuana is the quickest route of administration moving quickly from the lungs to the blood-stream. When marijuana is ingested, the body absorbs THC slower and the effects will occur 30 minutes to an hour later. Some short-term effects include altered senses, changes in mood, impaired body movement, difficulty with thinking and problem-solving and impaired memory. (NIDA, 2015) Historically, marijuana was thought of as a harmful drug that children should steer clear of. However, the stigma surrounding marijuana has changed. Many have been calling marijuana the new miracle drug with medical benefits for cancer and AIDS patients. Although still federally illegal, states like Colorado and Washington have legalized marijuanaShow MoreRelatedShould Marijuana Be Legalized?849 Words   |  4 Pageswhether marijuana should be legalized. Around 23 states have legalized marijuana for medical and recreational use. In the state of Illinois, medicinal use of marijuana has been passed on April 17, 2013. Since January 2014, patients are able to obtain marijuana with a doctor s recommendation. The new debate is whether marijuana should be legalized for the general public as a recreational drug. Although some believe that marijuana is harmless, and that it has beneficial medicinal uses, marijuana shouldRead MoreShould Marijuana Be Legalized?1715 Words   |  7 PagesMari juana in Society Cannabis, formally known as marijuana is a drug obtained from the tops, stems and leaves of the hemp plant cannabis. The drug is one of the most commonly used drugs in the world. Only substances like caffeine, nicotine and alcohol are used more (â€Å"Marijuana† 1). In the U. S. where some use it to feel â€Å"high† or get an escape from reality. The drug is referred to in many ways; weed, grass, pot, and or reefer are some common names used to describe the drug (â€Å"Marijuana† 1). Like mostRead MoreShould Marijuana Be Legalized?1489 Words   |  6 Pagescannabis plant or marijuana is intended for use of a psychoactive drug or medicine. It is used for recreational or medical uses. In some religions, marijuana is predominantly used for spiritual purposes. Cannabis is indigenous to central and south Asia. Cannabis has been scientifically proven that you can not die from smoking marijuana. Marijuana should be legalized to help people with medical benefits, econo mic benefits, and criminal benefits. In eight states, marijuana was legalized for recreationalRead MoreShould Marijuana Be Legalized?1245 Words   |  5 PagesMarijuana is a highly debatable topic that is rapidly gaining attention in society today.   Legalizing marijuana can benefit the economy of this nation through the creation of jobs, increased tax revenue, and a decrease in taxpayer money spent on law enforcement.   Ã‚  Many people would outlaw alcohol, cigarettes, fast food, gambling, and tanning beds because of the harmful effects they have on members of a society, but this is the United States of America; the land of the free and we should give peopleRead MoreShould Marijuana Be Legalized?1010 Words   |  5 PagesThe legalization of marijuana became a heated political subject in the last few years. Twenty-one states in America have legalized medical marijuana. Colorado and Washington are the only states where marijuana can be purchased recreationally. Marijuana is the high THC level part of the cannabis plant, which gives users the â€Å"high† feeling. There is ample evidence that supports the argument that marijuana is beneficial. The government should legalize marijuana recreationally for three main reasonsRead MoreShould Marijuana Be Legalized?1231 Words   |  5 Pagesshows the positive benefits of marijuana, it remains illegal under federal law. In recent years, numerous states have defied federal law and legalized marijuana for both recreational and medicinal use. Arizona has legalized marijuana for medical use, but it still remains illegal to use recreationally. This is absurd, as the evidence gathered over the last few decades strongly supports the notion that it is safer than alcohol, a widely available substance. Marijuana being listed as a Schedule I drugRead MoreShould Marijuana Be Legalized?1350 Words   |  6 Pagespolitics in the past decade would have to be the legalization of marijuana. The sale and production of marijuana have been legalized for medicinal uses in over twenty states and has been legalized for recreational uses in seven states. Despite the ongoing support for marijuana, it has yet to be fully legalized in the federal level due to cultural bias against â€Å"pot† smoking and the focus over its negative effects. However, legalizing marijuana has been proven to decrease the rate of incrimination in AmericaRead MoreShould Marijuana Be Legalized?1145 Words   |  5 PagesLegalizing Marijuana Marijuana is a drug that has been actively used for centuries. This drug can be traced back to 2737 BC by the Chinese emperor Shen Nung. He spoke about the euphoric effects of Cannabis and even referred to it as the â€Å"Liberator of Sin.† Since early on, marijuana was seen as a medicinal plant that was recommended for medical uses. Marijuana is currently in schedule I, which means that physicians are not allowed to prescribe it in the United States (Hart, Ksir 2013). This drugRead MoreShould Marijuana Be Legalized?997 Words   |  4 PagesLegalize It: The Benefits of Legalizing Marijuana Should marijuana be legalized? Many Americans have been asked this question or have heard some type of news about the issue. Marijuana is commonly known as cannabis which refers to the dried up hemp plant cannabis sativa, even though marijuana is a plant and has no chemical additives it has been a tropic of controversy for many years but nowadays it is in the spotlight more than ever. For centuries, marijuana has been used by people throughout theRead MoreShould Marijuana Be Legalized? Essay1457 Words   |  6 PagesSHOULD MARIJUANA BE LEGALIZED? Marijuana is a drug that has sparked much controversy over the past decade as to whether or not it should be legalized. People once thought of marijuana as a bad, mind-altering drug which changes a person’s personality which can lead to crime and violence through selling and buying it. In the past, the majority of citizens believed that marijuana is a harmful drug that should be kept off the market and out of the hands of the public. However, a recent study conducted

Kant’s Deontology - 1071 Words

Religion Philosophy Essay a) What are the central features of Kant’s deontolgy? Immanuel Kant believed that to live a good life is to lead a life of happiness. This is not saying that people should only live a life that brings them pleasure and satisfaction, as is often argued in Utilitarianism. Rather it is saying that to live a moral life is to live in a state of peace. For Kant, the Summum Bonum (highest good) describes the ideal, where there is both virtue and happiness. In The Fundamental Principles Kant speaks of a very comprehensive moral argument. This is of the Good Will in which he says â€Å"Nothing can possibly be conceived in the world, or even out of it, which can be called good, without qualification, except a Good†¦show more content†¦We are always influenced in our thinking and our intentions and attitudes change due to those around us. Aristotle said â€Å"Man is a social animal†, which means that man enjoys the association of others and may derive many advantages from it as well as alterations in thinking. Universalisability supports the idea that it would not be fair for one person to follow a maxim while another was criticized for acting the same way. However, after Kant gives the first formulation of the categorical imperative, he offers four examples of the way maxims can be derived from moral law. One of the maxims ‘always tell the truth’ results from the irrationality of breaking a promise. This is a big disadvantage because Kant says you have a moral duty to tell the truth to an inquiring murderer about the location of the person he is looking for. Like in the case of the inquiring murderer, Kant does not come up with a way to resolve conflicts between the maxims: â€Å"you should not lie† and you should save lives†. Both are good maxims but if you follow one of the maxims (don’t lie), then you cannot follow the other (save lives). Other conflicts similar to this would also be unresolved although Kant argues that you cannot know the future and all the other variables involved, and

Louisia May Alccott Free Essays

The story Little Woman by Louisa May Alcott is about the lives of the four March girls, Jo, Meg, Beth, and Amy, living with their mother in New England as their father is away serving as a chaplain in the Civil War. Even though the girls bicker like all siblings, they keep their loving home together as they wait for their father to return from the war. The sisters struggle to support themselves and keep their household running despite the fact that the family recently lost its fortune. We will write a custom essay sample on Louisia May Alccott or any similar topic only for you Order Now In the process, they become close friends with their wealthy neighbor, Theodore Laurence, also known as â€Å"Laurie. Let me give an introduction of the 4 beautiful March girls. Margaret March also known as Meg is the oldest of the March sisters. She is pretty, simple, and interested in the finer things in life. Josephine March also known as Jo is the second oldest of the March sisters. She is a teenager just like Meg. She is tall and skinny, a tomboy who always says and does the wrong thing, very talented, good-hearted, and a good writer. Elizabeth March also known as Beth is the second youngest, she is a sweet music lover, and is a little artistic also. Beth is the only one without ambitions, whose only desire is to live at home with her parents and practice her music. She is almost to good to be real,loves doll collection and her many cats,and always has just the right kind word for any situation. Beth is so shy that she is unable to attend a public school and therefore gets her schooling at home. Amy is the youngest who intends to marry for money so she would be in the high society and have wealthy friends, expensive jewels, and expensive clothes. Amy is also a little selfish but very social,elegant,and spoiled. Those are the characteristics and personalitys of the 4 beautiful March girls. Each of the March girls have an imaginary â€Å"castle† for which she hopes, but each ends with a very different â€Å"future† than she would have imagined for herself. Like when Amy finally got the chance to fulfill her dreams, she turns it away and turning instead to Laurie to marry, her childhood friend. Turns out that Laurie’s grandfather Mr. Laurence is wealthy and left his entire estate to Laurie. In the end all of the girls learned that no amount of wealth can bring more happiness than that of a close and loving family. But as the girls grow older, each faces her own personal demons and moral challenges. Jo, our beloved protagonist, must tame her tomboyish ways and learn to be more ladylike while pursuing her ambition to be a great writer. Meg, the oldest, must put aside her love of wealth and finery in order to follow her heart. Beth, the shy one, must conquer her bashfulness, while Amy, the youngest, has to sacrifice her aristocratic pride. The girls are guided in their personal growth by their mother, â€Å"Marmee,† and by their religious faith. The family’s tight bonds are forever changed when Meg falls in love with John Brooke, Laurie’s tutor. Meg and John marry and begin a home of their own, quickly populated by twins Daisy and Demi. Another marriage seems imminent when Laurie reveals to Jo that he has fallen in love with Jo’ but Jo does not like him back in that same way. Then Laurie goes to Europe accompanied by his grandfather. He pursues his passion for music and tries to forget Jo. Then seperatly Amy travels through Europe with her wealthy Aunt Carroll and cousin Flo and nurturs her artistic talent. Jo goes to New York as the governess for a family friend, Mrs. Kirke, experiencing the big city and trying her hand as a professional writer. Only after Beth died Jo found the mixture of paths and heartfelt sincerity that enables her to write stories that have the publisher begging for more of the same. Jo’s talent for writing develops in spurts, writing first innocent romances for a local paper, a novel that receives mixed reviews and finally â€Å"sensation† stories for a tabloid in NY. While in New York, Jo meets German expatriate Professor Bhaer, whose intellect and strong moral nature spark her interest. Back in the States, Jo returns home to care for her bereaved parents and learns to embrace her domestic side. Across the Atlantic, Laurie and Amy discover that they lack the genius to be great artists, but that they make an excellent romantic pairing. After Beth, who has never been strong, dies young, Amy finally got the chance to fulfill her dreams, she turns it away and turning instead to Laurie to marry since the sorrow of their loss solidifies Amy’s bond to Laurie. her childhood friend. Turns out that Laurie’s grandfather Mr. Laurence is wealthy and left his entire estate to Laurie. But when All the loose ends are tied up as Jo and Professor Bhaer marry and start a boarding school for boys, while Amy and Laurie marry and use the Laurence family wealth to support struggling young artists. The Brooke, Bhaer, and Laurence households flourish, and the novel ends with a birthday party for Marmee, celebrating the extended March family connections and the progress of Jo’s boarding school, Plumfield. In the end all of the girls learned that no amount of wealth can bring more happiness than that of a close and loving family. How to cite Louisia May Alccott, Essay examples

The Offense Principle Essay Research Paper The free essay sample

The Offense Principle Essay, Research Paper The Offense Principle The Offense Principle claims that single autonomy is justifiably limited to forestall violative behaviour. I believe that the Offense Principle provides the right autonomy bound n rules that the province should raise. The province should forestall behaviour that causes shame, embarrassment and uncomfortableness from adult stuff and Nutmeg States. There are three conditions that are typically understood to be portion of the Offense Principle. The first status provinces that behaviour must be significantly violative. A individual bubbling in populace is non violative plenty to be limited under this status. But a adult male urinating as he walks down the street is significantly violative and should be limited. The 2nd status provinces that the behaviour must be violative to about everyone. This is an of import status because I think that if merely a few people find something violative, does non represent the act to be limited. Many people may believe that person picking his olfactory organ in public is violative but non about everyone believes this act to be violative, hence, this act could non be limited. A adult male masturbating in public is violative to about everyone, hence, this act should be limited. The concluding status provinces that an violative act should be limited if you have to travel out of your manner to avoid the act. An # 8220 ; grownup # 8221 ; bookstore incorporating adult stuff should non be limited because one does non hold to travel out of their manner to avoid the shop. They merely merely make non come in into the shop. But a adult male and adult female holding sex on a bench should be limited because one would hold to keep from looking in certain waies to avoid seeing the violative act. I believe that erotica in public should be banned. This includes shops that sell adult stuff. Alternatively, these magazines and other adult stuffs should be kept individually in a private room, where you must be an grownup to enter and purchase stuffs. Pornographic stuff that is kept in private either to be sold or to be viewed or used in the privateness of one s place, should non be banned. I see perfectly no ground why a individual should non be allowed to see adult stuff in the privateness of their ain place. Some people may reason with me and state that the Harm Principle should be invoked by the authorities. They may state that erotica increases the likeliness of injury. And I slightly agree. I am certain that some injury has occurred because of erotica. But injury has besides occurred because of intoxicant, nationalism, cigarettes andXreligion. These things are non banned so neither should pornography. There is even proof that coffin nails are harmful and they are still non banned. There is no cogent evidence stating that erotica causes people to make things that they usually would non make. Pornography can be titillating, which is something that is designed to bring forth sexual rousing. Person may reason that it is incorrect to bring forth sexual rousing. But people are given the right of freedom of look. Pornography can be considered an art. There are many celebrated creative persons and images that include bare organic structures that could be considered erotica. If erotica is abolished, these great graphicss would hold to be destroyed. Some people may reason with me and believe in the Principle of Legal Moralism, which states that single autonomy is justifiably limited to forestall immoral behaviour. This rule seems to coerce ethical motives on people. Every individual has his or her ain ethical motives. If this rule was passed by statute law, rights of people would be taken off because of ethical motives of others that are different from their ain ethical motives. Gambling ( in some provinces ) and homosexual relationships are illustrations of rights that may be taken off because of the Principle of Legal Moralism. Many people argue that erotica feats adult females. Equally long as these adult females are non forced into take parting in the adult stuff and it is of their ain free will, there is no ground to wholly restrict erotica like some people would wish to make. A major job with the complete restriction of erotica is that the stuff is traveling to be made, whether it is made lawfully or illicitly. If erotica is banned, an full black market would get down up and the authorities would non hold any ordinance at all. The Offense Principle provides for the above jobs that people find with erotica. I believe that erotica is socially good. Pornography provides pleasance without bring forthing important injury. It provides sex by placeholder for lonely and disadvantaged people. Pornography cuts down on condemnable behaviour by supplying a release of tensenesss by utility satisfactions. It gives people a manner to let go of their sexual desires that might otherwise be harmful to others if non released. The rule protects nonconsulting grownups from violative shows of erotica. Equally long as I am non forced to see erotica or non warned in progress, I have no job with people watching or taking portion in something they enjoy. It is similar to single sexual penchant. I have non a individual job with homosexual life styles every bit long as I am non forced into anything. Pornography will neer be abolished every bit long as it is regulated and non forced on people. Peoples must esteem others, and if there is respect than there should be non jobs with erotica. 332

Managing Risks in Oil and Gas Companies

Introduction Oil and gas companies face a variety of risks in the process of their operations. Many occurrences that happen outside a company may have an effect on the firm and the financial decisions that it makes. Changes in interest rates, prices of oil, and exchange rates among others are likely to alter the financial decisions of a firm. It is therefore imperative for firms to ensure that no potential economic changes pose a threat to their business.Advertising We will write a custom dissertation sample on Managing Risks in Oil and Gas Companies specifically for you for only $16.05 $11/page Learn More According to Taylor and Kathleen (2013, p. 80), corporate financial managers are charged with the responsibility of ensuring that any past, current, and future fluctuations will not affect the economic standing of the firm. McShane and Anil (2011, p. 641) affirm that companies use various risk management tools known as derivatives to manage risks. The tool used should caution the firm from negative impacts of various risks that may happen in its environment. According to Smistad and Igor (2012, p. 46), in western Canada, oil companies apply future derivatives to buy certain goods or services at a price that is agreed upon today. Chanmeka et al. (2012, p. 259) argue that some companies make use of options where a firm gains the right to sell or buy certain goods or services at a certain price in the future. McShane and Anil (2011, 641) confirm that risk information is crucial to investors and the entrepreneurs themselves. The oil and gas industry is likely to face various risks. For example, political risks, geological risks, price risks, supply and demand risks, and cost risks amongst others. This paper will discuss risk management in various gas and oil companies presenting a detailed literature review of risks in general followed by a detailed discussion of the in the oil and gas firms. Risks The subject of risks is quite pivot al when it comes to the running of various organisations. Companies need to be aware of the possible or rather potential risks that they are likely to encounter in a bid to develop mechanisms of mitigating them in real time once they occur to ensure continued operation rather than untimely closure of such firms due to their failure to take the necessary precautionary measures. Various risks are likely to affect different investments. Such risks include political risks, price fluctuations, and changes in supply and demand, natural calamities, geological risks, economic recessions, and government control risks amongst others. Entrepreneurship is a risky undertaking and every entrepreneur has to risk some of these factors and get into business.Advertising Looking for dissertation on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Taylor and Kathleen (2013, p. 83), in the world of business, general risks affect l iterary every company in business though at varying intensities. Risks have various implications on business depending on the level of their impacts and predisposition of a particular business on them. In some instances, risks may lead to complete loss of business. For example, if a business is exposed to fire and explosives risks, it can be completely wiped out in case of an accident. However, McShane and Anil (2011, p. 641) affirm that some of the risks affect all businesses in their every day affairs, for example supply and demand risk, price risks, and government regulations. Businesses have little or no control on some risks such as natural calamity risks, for instance earthquakes and floods. Nevertheless, it is important for a business to devise ways and methods of detecting, assessing, and mitigating the risks. Oil and Gas Companies Oil and gas companies provide a working illustration of the subject of risks that is under scrutiny based on the various risks they encounter in their everyday business affairs. From the point of extracting oil and gas, processing it into finished products to transportation, warehousing, and retailing, the whole business is a risk. These companies encounter various types of risks in their line of business. Chanmeka et al. (2012, p. 259) assert that risks affect almost every firm in business and are likely to affect the oil and gas industry more than any other firm. According to Helman (2013, p. 62), the oil and gas industry faces tight regulations on how to conduct its business. Such regulations include rules on how oil and gas are extracted from the source, regulations on where they can be extracted and where extraction cannot be done, and regulations of the period in which extraction of oil and gas can be done. The government has the upper hand in such regulations since oil business is lucrative. In fact, the political wrangles that affect most countries that have oil and gas resources revolve around the control of oil wel ls by the government. Countries such as Sudan and Southern Sudan have been in conflict due to control of oil wells.Advertising We will write a custom dissertation sample on Managing Risks in Oil and Gas Companies specifically for you for only $16.05 $11/page Learn More Such political wrangles have also been witnessed in Kuwait and Nigeria. Whenever there are political wrangles in the control of oil and gas, the companies that invest in such nations face higher economic and political risks. Haselip and Martà ­nez (2011, p. 1) argue that politics of regionalism, equitable distribution of national resources, and resource distribution also affect oil and gas regulation. In some cases, the laws governing extraction, processing, and distribution of oil and gases in different states may vary. Antonsen, Kari, and Jarl (2012, 2001) reveal that it is more risky to carryout oil and gas business in dependence on foreign deposits without standardisation. In the oil and gas industry, some companies that show interest are likely to invest in any part of the world where the oil and gas field has a sheer disregard of the political climate of the country. According to Helman (2013, p. 63), if the host country nationalises the industry, foreign investors are likely to suffer loss. Politics of that kind of nation may also change to favour certain investors or category of investors where the foreign investor may not be considered. Antonsen, Kari, and Jarl (2012, p. 2001) argue that some economies will attract investors to begin the process of extraction. Nevertheless, once the process of extraction is complete and the oil and business industry becomes lucrative, politicians, activists, and government officials enact laws to enable the government to leap more from the industry. An investor who puts his or her resources in such an industry is therefore likely to suffer loss. Political risk in oil industry is a major threat to the stability of the secto r. It is even more risky to invest in the oil and gas industry in some developing countries. In some of the developing countries with plenty of oil and gas such as Libya and Sudan in Africa, the countries are under poor political leadership thus posing a great risk to investors in the industry. Whenever there is a political turmoil in various nations, oil tankers are targeted due to the high flammability of oil. In addition, Dumaine (2013, p. 102) affirms that oil and gas industries demand tight security and surveillance even in small quantities such as in China. It would therefore mean that, when there is political instability in a county, the rate of insecurity goes down. Consequently, the risk on the industry goes up.Advertising Looking for dissertation on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Wilkinson and Roland (2013, p. 118) assert that the process of gas and oil exploitation has also become very risky especially with the current dynamics. For instance, drilling of oil is happening in very dangerous environments such as oceans. Extraction in such areas increases the risks that oil and gas industries have to incur in the process of extraction, refining, distribution, and marketing. Smistad and Igor (2011, p. 91) affirm that there has also been an increase in the level of unconventional methods of oil and gas extraction. Out of such unconventional methods of mining, some potential oil and gas mines have been poorly exploited or destroyed. In fact, some of these procedures have been used to extract oil and gas in places where it would have proved impracticable. According to Smistad and Igor (2012, p. 46), gas and oil extraction companies involve themselves in great risks by investing a lot of finances and other resources in extraction. Some companies have incurred much c ost in the process of extracting gas and oil only to find minimal deposits than they had estimated. It is therefore risky ventures for a company to be sure that geologists and rock experts have enough evidence of the presence of oil or gas in a certain area. According to Smistad and Igor (2011, p. 91), it is also risky for the extraction company to hire specialists such as geologists in oil in the process of investigating the presence oil or gas in a certain field and then fail to realise the targeted amount of oil or gas. Oil and gas extraction, processing, marketing, and distribution constitute a business that aims at obtaining profits. The prices in the oil and gas markets must therefore be able to sustain the industry in a profitable way. Fluctuation in oil and market prices is a risk factor to the industry. No one can predict what the prices of oil or gas will be when the process of extraction will be completed. Mehemed, Kamal, Kieran, and Kong (2012, p. 201) argue that compani es in this industry therefore undertake a risk in extracting and purifying the gas without clear future market prices for their products. In several instances, oil and gas extraction companies have undergone the whole process of geological tests and drilling despite their ending up without the projected product. In such cases, unless the gas and oil extraction company is insured, it suffers a big loss. The nature of oil and gas market has been fluctuating over the years. According to Chen and Jevons (1993, p. 667), fluctuation of oil and gas prices poses a great risk to the stakeholders in the industry. Supply and demand issue is a limitation to the oil and gas industry. Venturing into oil and gas industry involves investing huge capital. The operations involved in extracting oil and gas are very expensive and extraction companies have to invest in the process. However, such companies may not be aware of the trend that prices of gas and oil will take in the future. Wood (2011, p. 11 3) affirms that demand and supply keep on changing. When the supply of gas in the world market goes high, the prices go down thus increasing the risk of incurring heavy losses. Oil and gas industry also experiences imbalances when prices of oil go up. In most cases, when the prices of oil and gases hike, large warehouses hoard the commodities. O’keefe and Doris (2013, p. 158) argue that hoarding increases the risk of loss of customers on retailers and local wholesalers since the commodity does not reach the target consumer. Such suppliers are also at the risk of being compromised of inconsistency by their customers. Mohanty and Mohan (2011, p. 165) argue that it is also very hard to predict the production rates of gas and oil in various states especially with a nation with many states such as the U.S. Kendrick (2012, p. 61) affirms that unpredictability of productivity increases the risk of price fluctuation in the oil and gas industry. In addition, Andersson, Sudhir, and Zaf ar (2009, p. 440) reveal that, whenever there is a financial crisis in a country or a region, for example, the American crisis or the European crisis of 2007, supply and demand of oil and gas also change. Financial crisis increases the risk of reduced purchasing power. Hence, the affected country experiences low demand for oil and gases. Wood (2011, p. 113) point out that the economic crisis increases the risk of low supply and demand due to its ability to reduce the capital base of a nation. When a country has a low capital base, it is limited in its operations. Donaldson and Schoemaker (2013, p. 24) argue that the macroeconomic position of the industry can also increase the risk of demand and supply. Macroeconomic power of every industry dictates the success of business under it. The oil and gas industry experiences huge operational costs. O’keefe and Doris (2013, p. 158) argue that all the other risk factors involved in the oil and gas industry drain into operational costs . Mohanty and Mohan (2011, p. 165) argue that, when the regulations set by political leaders and governments of a particular nation are very tight, the operation cost goes up. Tight regulations make the process of extracting, processing, and distributing gas and oil more extensive and hence expensive. Wilkinson and Roland (2013, p. 118) posit that the operations that are involved in the process of oil mining and gas harvesting determine the level of operations risks that a firm is likely to incur. The operations involved in drilling are also extensive and expensive. Mehemed, Kamal, Kieran, and Kong, (2012, p. 201) establish that the process of drilling is coupled with many limitations, for instance, bad weather, poor soils and other geological factors, inaccessibility, and technological problems. Such problems increase the operations cost. When the operations cost hikes, the industry becomes disfranchised. Different producers set their own market prices to overcome their cost of pro duction. According to Donaldson and Schoemaker (2013, p. 24), variation in the cost of production makes it difficult for nations of the world to set standard oil and gas prices. In fact, some industries incur a double or triple cost of production compared to others. It is out of such variations that oil and gas prices have become very competitive in the market. According to Robb (2012, p. 756), industries that have been in the line of production for many years incur lesser risks than new industries. Managing Risks- Risk Identification, Risk Assessment, and Risk Control The oil and gas industry is a risk-prone industry. Various uncertainties go along these risks such as the risk of exploration, demand and supply risk, crude price uncertainty, and product line risk. According to Robb (2012, p. 756), the oil and gas industry is one of the risky ventures. Hence, to prevent the danger that the industry poses, there should be the need to manage it. Sarkar (2012, p. 28) affirms that manage ment of risks also ensures that the small industries and the upcoming ones become commercially viable. In addition, there are technological risks such as â€Å"cyber threats of Stuxnet virus, which also target lucrative oil and gas industry† (Sudhir, and Zafar 2009, p. 440). These and many other risks in oil and gas industry necessitate the need for risk management. Consequently, various methods of risk management have been put in place to mitigate risks in this industry. Risk Identification Oil and gas companies have invested in information access control and management. Such risk management strategies involve identifying and accessing the right information at all time when it is very necessary. Information management has been a great source of risk in the oil and gas industry. Oil and gas companies have therefore put in place mechanisms to harvest policy information, process it, and use it gainfully. According to Andersson, Sudhir, and Zafar (2009, p. 440), information harv esting, processing, and management reduce the risk of operations. When companies access the right information before investment, they are able to reduce compliance risks. The company can use future derivative to organise how it will acquire various goods and services in the future at a certain price. Sarkar (2012, p. 28) affirms that speedy exchange of information across the industry enables investors to make the right information. Classified information and access to the information systems of oil and gas companies has also been highly controlled. Risk Assessment Modern technology aids in the reduction of variation in governance-risk-compliance. Technology is also an efficient tool in the reduction of operational risk. According to Akhibi (2012, p. 6), the use of real time monitoring technology enables the oil and gas companies to improve the availability of the commodity to customers, reduce operational costs, avoid conflicts with the society and the regulatory authorities, and re duce the risk of demand and supply. Dumaine (2013, p. 102), affirms that oil and gas companies are adopting condition-based monitoring in risk management, which involves positioning various sensors to measure and record the prevailing environmental conditions such as vibration and temperatures (Pinheiro 2011, p. 34). Such sensors enable the oil and gas companies to detect equipment failure in real time. In fact, Srivastava and Gupta (2010, p. 407) assert that the devices are sophisticated to ensure that alert devices either sound the alarm or give work orders to the operations department. Wimalasiri et al. (2010, p. 49) affirm that sensors have enabled many oil companies to avoid the risk of losing billions of money in spillage and leakages. Some oil and gas companies have set up strategic teams to manage any eventuality such as equipment failure and fire outbreaks. Schroeder and Jan (2007, p. 0.1) point out that fire departments are also connected to sensors in order to enable quic k response to eventualities and occurrences. Wimalasiri et al. (2010, 49) argue that predictive maintenance enables the industry to realise when there is the need to purchase certain equipments before the actual damage is done. Various modern technology devices are put in place to detect wear-and-tear and obsoleteness of equipments in the oil industry. Qian, Yulin, and Gonzalez (2012, p. 859) observe that, whenever the devices sense that a gas tank or an oil tank is not up to the set standards, the necessary alert message is sent to the maintenance department for replacement. Srivastava and Gupta (2010, p. 407) affirm that the sensor is also able to compare and analyse the level of functionality of every device in the firm and or give the right report on each. Pinheiro (2011, p. 34) observes that such quick reactions enable the firm to avoid health risks. Risks Control Oil and gas companies have to deal with the increased compliance and regulations facing the industry today. For exa mple, according to Molokwu, Barreria, and Boris (2013, p. 2), in South Africa, tight requirements of reporting on all operations and events of minor accidents and incidents have been an expensive venture for the industry. There are also tight regulations on drilling operations. Oil and gas companies have therefore put in place mechanisms to ensure that the checklist for all regulations is complied with as the government of the area dictates (Chan 2011, p. 341). Such compliance includes registration of the company, authorisation for drilling, construction of the industry, reliability in maintenance of structures such as oil wells, and the ability to remain in the market as a competitive industry (Khan 2010, p. 157). According to Haselip and Martà ­nez (2011, p. 1), politics in a certain nation or state can play a role in the oil and gas industry. The major role that political forces play in the oil and gas industry is to regulate prices. Politicians are opinion leaders who largely b ecome policy makers. Oil and gas industries have therefore put in place mechanisms to work with government in price regulations and policy control. The gas and oil companies have to deal with various environmental and health risk compliance processes. The oil and gas industry also faces the risk of geological inadequacy. In most of the nations and states, the reserve of oil and gas is already tapped out. The risk has also spread in nations that have been exploiting their reserves since they are also in the process of being fully exploited. According to Andersen and Aamnes (2012, p. 2010), companies have therefore put in place methods of ensuring that they comply with the health regulations in their area of investment. Oil is a pollutant to the environment in a double way especially when not well handled. According to Perunović and Jelena (2012, p. 130), the risk of oil spillage in water, for example, during mining or transportation in the sea has been greatly reduced through mod ern technology. Sophisticated mining methods have been employed to ensure no oil spillage during mining. In fact, Perunović and Jelena (2012, p. 130) affirm that modern water vessels have also been adopted in transporting oil through the sea. Khan (2010, p. 157) posits that employees’ health and safety have also been a risk issue in the oil and gas industry. Oil and gas prices are another risk that investors in this industry face. Chen and Jevons (1993, p. 667) argue that prices dictate whether a venture into extracting oil or gas is to be feasible or not. When geological limitations are high, the price risk of extracting oil or gas goes high. Oil and gas companies have therefore ensured high safety standards to employees through education and trainings. According to Molokwu, Barreria, and Boris (2013, p. 2), employees are taught how to protect themselves, how to behave while in the extraction site or in the storage and distribution site, and even how to manage eventualit ies such as fire outbreaks. Chan (2011, p. 341) reveal that oil and gas companies have also ensured that the community living near the mines and storage areas are also informed on management of fire and spillage. According to Hayes and Hopkins (2012, p. 145), oil and gas companies have also made use of resource centres that are set within the industries. Various minds gather in the resource centres to exchange ideas on the problems facing the industry. Schroeder and Jan (2007, p. 0.1) affirm that, unlike in the past when orders came from managers, engineers in today’s industry meet and exchange knowledge on various problems that their firms face. Hayes and Hopkins (2012, p. 145) assert that, with the meeting of engineering experts from various departments, the right solutions are likely to be realised to eliminate various risks facing oil and gas industries for example the geological and price fluctuation risks. The experts will come up with recommendations on the right measu res that the industry should take to avoid risks. Such decisions and recommendations majorly include modification, technological adaptations, planning, and maintenance. With the modern advancement in information technology, cyber crime and information system hacking has posed another risk to the oil and gas industry. According to Akhibi (2012, p. 6), in Nigeria, oil and gas companies have therefore put in place cyber security designs and technologies to mitigate the risk. In oil and gas industries, information system security has been highly integrated with people, processes, data, and systems. Such ventures secure the system to ensure accountability on the side of the operators. Qian, Yulin, and Gonzalez (2012, p. 859) argue that information security also ensures continuous surveillance of the internet protocol openings and filtration of information before it gains access to the main information system of the company. Importance of Managing Risks specifically in Oil and Gas Compani es Based on the information already presented concerning risks and their repercussions if not mitigated, it becomes clear on the need to manage risks by all organisations, leave alone the oil and gas companies. Such risks reduce the ability of the firm to predict the course of business. The oil and gas industry faces various difficulties and tight monitoring by many authorities. Investing in the oil industry is also a very risky venture. In this light of probability of loss in the oil and gas industries, this paper highlights various importance of risk mitigation. Every derivative that oil and gas industries put in place should aim at risk mitigation. The derivatives that a firm takes should be aimed at cautioning the industry from the past, current, and future risks. Kendrick (2012, p. 61) asserts that risk management in oil and gas industries ensures that there is proper compliance with the regulations of the authorities in their place of business. Insuring the business against va rious risks also enables the company to have confidence and security in trade. Such regulations should also be adhered to avoid the risk of regulations and compliance. According to Andersen and Aamnes (2012, p. 2010), managing risks in the oil and gas industry enables the companies to have clear visibility of the current position and the future of the firm. Such a goal can be attained by venturing into future derivatives. The industry should sign for future trading ventures at certain prices with certain companies. Conclusion In conclusion, every business venture is exposed to various risks. Consequently, every business has to put in place various mechanisms to identify, monitor, assess, and control risks. Private enterprise is generally a risky venture. However, as discussed, the oil and gas company is bound to face more risks than any other business. The major risks that affect oil and gas companies include geological risks, political risks, government regulations, and compliance risks, price fluctuation, demand and supply, and natural calamities risk. Oil and gas companies have therefore invested heavily in various risk mitigation measures. Such measures include risk identification, risk assessment, and risk monitoring and control. It is important to manage risks in every business venture. Risks can result in complete loss of business. They can lead to conflicts with the authorities and the communities in the business environment. It is therefore important to comply with the regulatory measures put in place by the regulatory authorities. Insuring the business against various risks is also an important step in risk mitigation. 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Srivastava, A Gupta, J 2010, ‘New methodologies for security risk assessment of oil and gas industry’, Process Safety Environmental Protection: Transactions of the Institution of Chemical Engineers Part B, vol. 88 no. 6, pp. 407-412. Taylor, M Kathleen, B 2013, ‘Managing Risks In The Volatile Energy Industry’, RMA Journal, vol. 95 no. 6, pp. 80-84. Wilkinson, A Roland, K 2013, ‘Living In the Futures’, Harvard Business Review, vol. 91 no. 5, pp. 118-127. Wimalasiri, V et al. 2010, ‘Social construction of the aetiology of designer error in the UK oil and gas industry: a stakeholder perspective’, Journal of Engineering Design, vol. 21 no. 1, pp. 49-73. Wood, D 2011, ‘Is the oil and gas industry adequately handling exposure to extreme risks?’, World Oil, vol. 232 no. 10, pp. 113-118. This dissertation on Managing Risks in Oil and Gas Companies was written and submitted by user Farrah J. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.