Commercial Insurance Essay Example | Topics and Well Written Essays - 1250 words

Commercial Insurance - Essay Example Dealing with the business’ risks will involve evaluating the existing risk factors and developing robust contingency plans on ways of dealing with the risks whenever they occur. Therefore, laying down a concrete plan for these risks will be the central theme of ensuring efficient management of the business risks. In addition, with the understanding that it will be impossible to plan for everything, the hotel’s risk management plan will provide for efficient ways of reacting whenever risks emerge. The plan to establish the hotel involves the designing and construction of the hotel premises. This means that I will require a professional design and building team, which will not only be tasked with developing a concrete design for the premises on which the hotel will be based, but also building the hotel based on my specifications, as well as those of the state planning department. Rather than embarking on the designing and construction processes on my own, for instance, by hiring a design and construction team, I will float a design and construction tender in the local newspaper and journal for a specified duration. This will primarily be in order to avoid the risk of poor construction due to lack of expertise, or high costs. Consequently, the appointment of the best design and building group will involve tendering, specifically open tendering method. This tendering approach will mark a massive step in risk avoidance (Edwards and Bowen 43). Essentially, risk avoidance encompasses taking steps to deter a hazard thereby ending particular exposure. Additionally, open tendering is the preferred method since it will increase competition thereby guaranteeing the highest value for money on the design and building project. Open tendering will also enhance risk avoidance by ensuring that bidders or respondents are willing to work at low costs while also increasing their likelihood of accepting increased responsibility and risk. This will enable the hotel avoi d a vast proportion of the risks associated with designing and construction, including fluctuating costs of materials and difficulties transporting construction material. Additionally, open bidding will ensure the realization of a superior quality product, especially through the incorporation of a quality matrix in the assessment procedure (Edwards and Bowen 64). Another significant way through which open tendering will ensure risk avoidance is by the enforceability of the design and building contract, which will evade rogue contractors. As soon as the hotel begins serving customers, I will ensure risk reduction by adopting the public order approach. This will ensure that the hotel’s risk of theft, insecurity and fire is significantly reduced. Risk reduction encompasses the implementation of effective measures to diminish the severity or frequency of the occurrence of losses. Consequently, risk reduction is also referred to as loss control (Edwards and Bowen 120). In the hote l, risk reduction will involve fire protection, for instance, through the installation of fire extinguishers and training the staff on fire fighting approaches. In addition, routine safety inspections will be a mainstay of the hotel’s risk reduction strategy, particularly since hotels are

Case Study Early Childhood Essay Example | Topics and Well Written Essays - 500 words

Case Study Early Childhood - Essay Example Abby subscribes to similar symptoms. The challenges she faces are of psychological and cognitive nature, which naturally gets conveyed through physical restraining of expressions (McHolm, Cunningham & Vanier, 2005). She has developed anxiety-related issues and social phobias as well, like she becomes anxious whenever a question is asked and seems reluctant to reply, though she wants to answer. This means that she has proceeded to the next level of Selective Mutism. Her expressions and attitude change suddenly, like she freezes, her face gets stiff; jaw tightens, and when she speaks her voice is inaudible (Cole, 2006). She has not only restricted her use of speech, but is socially inhibited in other ways too. She never mixes up with her classmates, and only talks to one girlfriend. She has a fear of negative evaluation by others, and is afraid of social ridicule or embarrassment. It is due to the inborn social phobia, which  stops her, from using public bathrooms anywhere, or to inf orm her teacher when she needs a break (Cole, 2006). Her humorous nature and boss like aggressive attitude at home, and shy or unconfident mannerism at school shows her confused cognitive environment. Current Strength: Selective Mutism is a kind of phobia just like people have fear of heights or water, Abby is having fear of speech outside home, or at social environment (McHolm, Cunningham & Vanier, 2005). At home, she is good at playing board games and cards, which mean that she is an intelligent child, and has the tendency to overcome her fears. She seems inclined towards taking control of her expressions, but is reluctant due to the fear of embarrassment. The hint of flexibility which she has shown as a response to her current teacher’s tactics establishes that she wants to change and become social.  Ã‚  The fact that Abby’s Selective Mutism is not a reaction to any mental or physical trauma from the

Finance Accounting Essay Example | Topics and Well Written Essays - 1000 words

Finance Accounting - Essay Example The accounts above are made in light of portraying a true picture to the shareholders as well as any investors interested in the company. The true and fair view concept has been at the heart of financial reporting in the UK for over forty years. In recent years there has been a major increase in the international importance of this concept. This has come about with its adoption by the European Community in the Fourth Directive on company law and its implementation in all Community countries. However, this concept has never been defined in UK legislation, and a variety of meanings can be attributed to it. In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the...In view of the recent international developments and given that the UK is the source of the concept, this study sought to elicit the views of senior UK practitioners on the true and fair concept. The FRC has laid three points: that the concept of the 'true and fair view' remained a cornerstone of financial reporting and auditing in the UK; that there had been 'no substantive change in the objectives of an audit and the nature of auditors' responsibilities'; and that the need for professional judgement 'remained central to the work of preparers of accounts and auditors in the UK'. To support the application of the "true and fair view", accounting has adopted certain concepts and conventions which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the 'historical cost convention'. This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. This is applicable when the calculations were made for the fixed assets of plant and machinery, fixtures and fittings and buildings. Under the "historical cost convention", therefore, no account is taken of changing prices in the economy. The other convention used is the monetary measurement concept.

Saudi Aramco oil company Essay Example | Topics and Well Written Essays - 500 words

Saudi Aramco oil company - Essay Example The current discourse hereby aims to provide a general overview of the organizational profile of Saudi Aramco, to include a brief historical background, its leadership, employees’ profile, as well as the motivational and incentives program provided by management to retain and development their current and future human resources. The origin of Saudi Aramco could be traced in the 1930s when an oil concession was reportedly signed between Standard Oil Company of California (Socal) and Saudi Arabia specifically on May 29, 1933 and which eventually was construed to be managed by the California Arabian Standard Oil Company (Casoc) on November 8 of the same year (Saudi Arabian Oil Company, 2012). Other relevant milestones in Saudi Aramco’s history apparently included the acquisition of 30% of the concession by Texas Company in 1936; and in 1948 when their historical preview disclosed that additional owners were instrumental in the organization’s further growth and expansion. It was in 1988 that the organization allegedly became state-owned through a Royal Decree that was issued by King Fahd (Saudi Arabian Oil Company, 2012). As a state-owned organization, Saudi Aramco was indicated to officially disclose relevant organization information â€Å"to the Supreme Council for Petroleum and Minerals Affairs, chaired by the Custodian of the Two Holy Mosques, King Abd Allah ibn Abd al-Aziz Al Saud† (Saudi Arabian Oil Company: Our leadership, 2012, par. 1). The organization acknowledges the need for leadership development programs to ensure that those who manage diverse facets and operations are professionally competent and qualified to lead. There were specifically identified ways to develop the full potentials of human resources to include access to company-wide training and development programs; being sponsors to apprenticeship and specifically identified college development programs; and endowment of academic chairs for qualified personnel to assume

Explain how the management practices of planning, leading, organizing, Essay

Explain how the management practices of planning, leading, organizing, staffing, and controlling are implemented in your place o - Essay Example Leading – is the process where all the organizations resources, including manpower, are effectively led towards the fulfillment of the stated objective. It includes motivating the people to optimize their performances. Organizing – determines the tasks that need to be done to achieve the stated objectives and goals. The organization’s structure is also defined at this stage where functions can be effectively dispensed and to establish who decides what. Staffing - is the stage or process of determining the personnel who can do the job best. It also involves the determination of how many people are required for a task to be accomplished. Controlling – is the tool where management can measure its actual performance compared to the intended plan. Through controlling, management is enabled to apply corrective measure if there is a deviation in performance vis-a-vis intended plan. II. How are these principles implemented in the workplace? I used to work in a sta rt up fast food chain and was involved in setting up of its new branch. I was a new employee and was assigned to tag along the branch manager and was asked to perform as a support system to the setting up of the new branch. My functions then are not clearly defined as I was involved in almost all aspect of the business but it gave me an insight on the different aspect of management. It gave me an idea that running a business is both a science and art where there are principles that needs to implemented and also tools to be used for the successful management of a business enterprise. The first stage: Planning Before going to the actual site, and doing anything the manager first planned on what to do and how do we intend to things. From what I recall, the objectives must be first established as a core part of planning. In our case, the first and most important objective is to make the store operational in three months within a specified budget. Schedules were then established along wi th commensurate tasks that need to be performed for the objective to be realized. Management tools were employed such as the Gantt chart, Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM) to ensure that everything will go on schedule to realize the objective of opening the store in three months (Gomez-Mejia, 2002). The planning stage took a while because it involved several studies to determine on how some functions can be done with a smaller budget and shorter period of time. Example for this is the consideration on how the physical be set up at a lesser cost. Leading When the objectives were already clearly defined and the tasks needed to accomplish were already enumerated, the Branch Manager, has to pull its human resources together and direct our efforts and energy towards the fulfillment of tasks on schedule. In addition of clearly defining what needs to be done in a specific time-frame to accomplish our objectives, the Branch Manager also motivated his people by giving favorable write-ups and small incentives if we accomplish tasks within the stated time-frame (Gray, 2008). Organizing After defining the tasks involved on how to accomplish our objective, tasks were then specifically assigned to each employee where we are responsible for its completion. Task varies after the completion of each task and is usually time bound. The branch manager had to check time to time to ensure that each one of us is within schedule and that there is no duplication of work to

An investigation into issues surrounding consumer online purchasing Dissertation

An investigation into issues surrounding consumer online purchasing influenced by Facebook and Twitter - Dissertation Example A primary research method was used and a survey instrument with 30 questions based on the Likert scale was used. This was administered to a research sample of 200 and the responses analysed using SPSS. Findings from the research indicate that fashion firms use a number of methods and tools for promotion. These include Facebook posts, online reviews, and posts about latest events, trends, celebrity wear, online galleries, discounts and promotion codes. In addition they use eWord of Mouth advertising, buzz marketing and viral marketing. Facebook has also introduced Facebook stores that are micro sites for small and medium enterprises and introduced the Facebook Commerce, which is similar to e-Commerce but based on the Facebook marketplace. Facebook users place a high level of reliance and trust on the online reviews and posts and base their purchase decisions on these reviews. The research concludes by indicating that Facebook has emerged as the new marketplace for fashion products sin ce it brings together customers, sellers and hosts promotions and reviews that attract customers. Table of Contents 1. Introduction 13 1. Introduction 13 1.2. Literature review 15 1.2.1. Internet users 15 1.2.3 Online word of mouth 15 1.2.4. Social media 17 1.2.5. Social media marketing 17 1.2.6. Consumer’s purchase decision behaviour 19 1.3. Research Aims and Objectives 21 1.4. Time schedule 21 1.5 Resources 23 2. Literature Review 23 2. Literature Review 23 2.1. Decision making with Facebook 25 2.1.1. Items purchased with social media 29 2.1. 2. Facebook for selling and buying 29 2.1.3. Emergence of Facebook Store 35 2.1.4. Emergence of Facebook F-Commerce 37 2.2. Word of mouth and e-Word of mouth 39 Figure 2.1. Model for branding in eWoM (Jansen, et al, 2009) 39 2.3. Communication through social media 41 2.3.1. Buzz Marketing 43 2.3.2. Viral Marketing 45 2.4. Summary of the literature review 47 3. Methodology 49 3. Methodology 49 3.1 Introduction 49 3.2 Research Objectives 51 3.3 Research Philosophy 53 3.3.1 Deductive Approach 53 3.4 Research Design 55 3.4.1 Primary and Secondary Data 55 3.4.2 Quantitative Method 59 3.5 Sampling 61 3.6 Survey 63 3.6.1 Survey Design 63 3.6.2 Survey Limitations 65 3.7 Research Limitations 67 3.8. Summary 67 4. Findings and Analysis 69 4. Findings and Analysis 69 4.1. Analysis of various groups in the survey 69 Q1. I use Facebook to look at fashion items that inspire my own wardrobe. 71 Q2. I enjoy using Facebook because it gives me access to fashion ideas I would not otherwise have. 71 Q3. I use Facebook to look at celebrity styles and fashion items 73 Q4. The fashion item posts I see on Facebook inspire me to buy the same things. 75 Q5. I am compelled to buy fashion items to fit in with my friends who post their items on Facebook. 77 Q6. I use Facebook for fashion inspiration because it is free and I have constant access to it unlike fashion magazines. 77 Q7. I buy fashion items spontaneously 79 Q8. I am easily influe nced to purchase items because of fashion posts 81 Q9. I follow fashion on Facebook because it is updated much quicker than any other modes of media. 81 Q10. Once I purchase a new fashion item I post the details on Facebook 83 Q11. I actively search for fashion advice posted by people and pages on Facebook 85 Q12. I mostly use Facebook to be able to see what everyone else is wearing 87 Q13. I trust in the recommendations on products through Facebook 87 Q14. I take advice from Facebook and research online before a purchasing decision. 89 Q15. I am likely to be influenced to buy a particular brand if it is

Current Events Journal Article Example | Topics and Well Written Essays - 500 words

Current Events Journal - Article Example The government claims that it needs this program to fight terrorism. The American Civil Liberties Union (ACLU), representing those who have regular overseas dealings, took its case to District Court last March where it won its argument, but because of the stay requested by the government, surveillance is continued until the appeals process is complete. The government will submit its arguments to the court by October 13. The ACLU has a month to respond with a ruling expected to be rendered by the end of the year. Whichever side loses the appeal will likely appeal further to the Supreme Court. The ACLU contends that for the government to authorize the unwarranted surveillance of its citizens violates the Fourth Amendment to the Constitution which prohibits the use of general warrants and requires that probable cause be apparent. The National Security Agency (NSA) has had its surveillance program in place for five years in its global fight on terrorism but has not obtained the proper court-ordered warrants required by law in these monitoring activities. Judge Taylor ruled last August that this violates the civil rights of the Americans affected because the government is not presenting its justifications for its surveillance activities in court. Taylor had ruled that the NSA must stop this program but the 6th Circuit Court of Appeals allowed the stay of that ruling as requested by the government. The Bush administration continues to insist that the ‘Terrorist Surveillance Program’ is a necessary tool which ultimately protects American citizens. This program has been in existence since the September 11 attacks yet the public has only recently learned of it. There are concerns that civil liberties, which are supposed to be protected by the Constitution, are being eroded by a government that is overstepping its powers by wiretapping Americans without benefit of a court-ordered