...Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One by Tom Aabo, Aarhus School of Business, John R. S. Fraser, Hydro One, Inc., and Betty J. Simkins, Oklahoma State University T he Chinese symbols for risk shown above capture a key aspect of enterprise risk management. The first symbol represents “danger” and the second “opportunity.” Taken together, they suggest that risk is a strategic combination of vulnerability and opportunity. Viewed in this light, enterprise risk management represents a tool for managing risk in a way that enables the corporation to take advantage of valueenhancing opportunities. A missed strategic opportunity can result in a greater loss of (potential) value than an unfortunate incident or adverse change in prices or markets. As in the past, many organizations continue to address risk in “silos,” with the management of insurance, foreign exchange risk, operational risk, credit risk, and commodity risks each conducted as narrowly focused and fragmented activities. Under the new enterprise risk management (ERM) approach, all would function as parts of an integrated, strategic, and enterprise-wide system.1 And while risk management is coordinated with senior-level oversight, employees at all levels of the organization are encouraged to view risk management as an integral and ongoing part of their jobs. While there are theoretical arguments for corporate risk management,2 the main drivers for the implementation...
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...Executive Summery Pike river coal mine was operated by Pike River Coal 46 km (29 mi) north-east of Greymouth in the West Coast Region of New Zealand's South Island. Pike River Coal Company Ltd (Pike) was formed in 1982 and acquired by New Zealand Oil & Gas Ltd (NZOG) in 1998 as the major shareholder. It was initially expected to produce around one million tonnes of coal per year for around 20 years, making the mine the second-largest coal export mine in the country, as well as the largest underground coal mine of the country. Because of various technical glitch and poor forecasting of the management, the whole project was delayed. The Delayed timeframe, lower production rate of coal has increased the financial pressure as it was proven to be as over-promised and under-delivered. On Friday the 19th November 2010 an underground explosion occurred at the Pike River Mine that resulted in the deaths of twenty- nine men. Over the ensuing nine days, three more explosions propagated through the mine. The investigation done by Royal Commission of New Zealand on this issue reveals that there are multiple failures of the Engineering / Management functions and ignorance of the government health and safety regulation which leads to this explosion. It reveals an appalling string of mistakes, from consent being given for the mine in the first place, early warnings from experts were marginalised...
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...traditional costing 12 2.3.1. Different calculating targets 12 2.3.2 Different calculation 12 2.3.3. Different Finished goods costs term 13 3. Research methodology 13 3.1 case study 13 3.2 The survey method 13 3.3 Literature 14 4. Research Results 14 4.1 problems of traditional costing method in oil refining enterprise 14 4.2suggestions for Chinese enterprises’ application ABC 15 Bibliography 15 1. Introduction 1.1 Research background With the rapid development of the national economy, enterprises’ competition is increasingly fierce; many companies are using advanced science and technology to achieve competitive advantage in the market. Market competition and technological progress are the two fundamental economic factors which generate activity-based costing. Since The beginning of 1980s of the 20th century, the activity based cost method is paid a wide range of attention; the developed countries gradually adopt it in a number of advanced enterprises, and it continuously develops in the practice. Traditional Costing emphasizes on the accounting and control of the direct materials and direct labor and other direct costs, while for indirect costs it uses the single number standard as the basis for the allocation. In the case that products variety is single, the proportion of indirect costs is smaller, and it still can provide...
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...market and the returns available on investment capital. Contribution from different sources of power generation Gas based 10% Coal based Gas based Hydro Renewable Nuclear Diesel Source: Ministry of Power, Government of India Almost 55 per cent of this capacity is based on coal, about 10 per cent on gas, 26 per cent on hydro, approximately 5 per cent on renewable sources, about 3 per cent on nuclear and 1 per cent on diesel. In the past five years, there has been a much greater emphasis on transmission and distribution reforms. The government aims to provide "power to all" by 2012. To achieve that promise, it will have to add as much as 1,00,000 MW of generation capacity, cut AT&C losses substantially to below 20 per cent, rationalize tariffs and ensure that average revenue realization is greater than the cost of production. It will have to continue to push the process of reform and restructuring and ensure greater private participation, in every segment. In the past few years, there has been considerable growth in power plants based on renewable sources of energy. The Plant Load Factor (PLF) of generating plants has improved consistently over the last 10 years. The share of thermal power as a proportion of total power generated has decreased from 71 per cent to 66.3 per cent in the last decade. The share of hydro has increased to 26 per cent from 25.7 per cent. Of the fossil fuel supplies, there is delivery constraint with respect to gas. A number of gas plants today...
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... BU606 – Economics Group 7 Amanda Downey - 125824690 Ahmed Youssef - 135819900 Alex Zorzitto - 135823380 Tom Vandemoortele - 135824330 Wafik Moussa - 135808970 Word Count = 2,832 (including titles and citations) Contents 1.0 Executive Summary 3 2.0 Electrical Power Utilities Industry in South Africa 4 2.1 Why South Africa? 4 2.2 Environmental Analysis 4 2.2.1 Social Economic and Political Considerations 4 2.2.2 Macroeconomic Trends 5 2.2.3 Aspects of International Trade/Investment 5 2.2.4 Competition Analysis 6 2.2.5 Market Structure and Firm Entry 6 3.0 Opportunity, Issues and Recommended Strategy 7 3.1 Opportunity Description 7 3.2 ATCO Power Current Strategy: Strengths and Weaknesses 7 3.3 Risk Factors in South African Market 8 3.4 Financial Analysis 8 3.5 Recommended Strategy and Entry Mode 9 4.0 Implementation Plan 9 4.1 Immediate Action Plan: 6 Month 9 4.2 Short Term: 1 Year 10 4.3 Long Term 10 4.4 Contingency Plan 10 5.0 References 11 6.0 Exhibits 13 1.0 Executive Summary ATCO Power is yearning to achieve its global expansion goal and establish itself as an industry leading, reliable and environmentally responsible provider of cost-effective solutions for customers and partners worldwide. In search for an investment opportunity in the underserved market in Africa potential target countries were identified based on electricity demand growth trends, production capacity, economic growth and a multitude of...
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...PROJECT REPORT ON PERFORMANCE MANAGEMENT In N.H.P.C at Baira Suil Power Station Chamba (H.P) FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION UNDER THE GUIDANCE OF: SUBMITTED BY: PROF. SWETA SAURABH AKANKSHA SHARMA MBA 2012-14 SCHOOL OF BUSINESS GALGOTIAS UNIVERSITY Certificate from Faculty Guide This is to certify that the project report Performance Management has been prepared by Ms. Akanksha Sharma under my supervision and guidance. The project report is submitted towards the partial fulfillment of 2 year, full time Master of Business Administration. Name & Sign of Faculty Prof. Sweta Saurabh Date: Declaration I, Akanksha Sharma, Roll no 120SOB102189 student of MBA of School of Business: Galgotias University, Greater Noida, hereby declare that the project report on “Performance Management” at “Galgotias University” is an original and authenticated work done by me. I further declare that it has not been submitted elsewhere by any other person in any of the institutes for the award of any degree or diploma. Name of the student Akanksha Sharma MBA 2012-2014 Date: ACKNOWLEDGEMENT My project report has helped me to gain professional experience which apart from giving me an opportunity to...
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...(PSUs), have 31.34% (54412.63MW) of total installed capacity of 173626.40 MW (as on 31/03/2011) in India is being produced by them. ❖ Major PSUs involved in the generation of electricity include National Hydroelectric Power Corporation (NHPC) National Thermal Power Corporation (NTPC), and Nuclear Power Corporation of India (NPCIL). ❖ Besides PSUs, several state-level corporations are there which accounts for about 47.49% of overall generation, such as Jharkhand State Electricity Board (JSEB), Maharashtra State Electricity Board (MSEB), Kerala State Electricity Board (KSEB), etc. are also involved in the generation and intra-state distribution of electricity. ❖ Other than PSUs and state level corporations, private sector enterprises also play a major role in generation, transmission and distribution, about 21.17% (36761.19MW) of total installed capacity is generated by private sector. ❖ The Power Grid Corporation of India is responsible for the inter-state transmission of electricity and the development of national grid. ❖ India is world’s 6th largest energy consumer, accounting for 3.4% of global energy consumption. ❖ Due to India’s economic rise, the demand for energy has grown at an average of 3.6% per annum over the past 30 years. ❖ At the end of Oct. 2010, the installed power generation capacity of India stood at 171926.40 MW, while the per capita energy consumption stood at 733.54 KWh(2008-09), which is very minimal as compared to global...
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...CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Firms need to constantly renew and develop new capabilities and resources as they respond to challenges in their environment. These resources can be developed in-house or developed among strategic partners or purchased. Outsourcing entails the delegation of tasks or jobs from internal production to an external entity such as sub-contractor. It is the process of placing the development of system components in another development organization with the aim of achieving cost reduction and a gain in terms of production capacity and development. The main striking features of the Nigerian economy today is that available infrastructures of all types fall far below the quantities and qualities required. This naturally results in overstretching of most facilities. Despite huge potentials in almost every sector, poor overall economic performances have made it inevitable to tap unduly and at high cost and less profit than they should be. According to Alaofin (2003), “operating costs are high in Nigeria inspite of relatively cheap labour hence, running any business according to international standards is therefore costly”. He further stated that facilities management as an area is just evolving in Nigeria through janitorial services which is the best development component, has been around for nearly (5) five decades. Security services are in the stage of development. He stated that there are various merits of outsourcing which...
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...REPORT ON THE PROPOSED RISK MANAGEMENT POLICY, ITS IMPORTANCE, STRATEGY AND RISK CULTURE OF CHOPPIES ENTERPRISE LIMITED PRESENTED TO: BOARD OF DIRECTORS, CHOPPIES GROUP OF COMPANIES BY: Mr Monamodi Collen Gontse (RISK MANAGER) 1st OCTOBER 2014 Choppies Accounts Boardroom; 2nd Floor Gaborone International Commerce Park Choppies Enterprises Limited, PLOT No 100 Gaborone International Commerce Park, East Gate Gaborone West, Botswana Contents 1. TERMS OF REFERENCE 3 2. ACKNOWLEDGEMENT 4 3. EXECUTIVE SUMMARY 5 4. INTRODUCTION 6-7 5. BACKGROUND 7-9 6. IMPORTANCE OF RISK MANAGEMENT POLICY & CHOPPIES RISK MANAGEMENT POLICY 10-12 7. RISK MANAGEMENT ARCHITECTURE 12-15 8. RISK AWARE CULTURE 15-17 9. ISO 31000 APPLICATION IN CHOPPIES ENTERPRISES LTD 17-18 10. RECOMMENDATIONS 18 11. CONCLUSION 18 12. References 19-20 Terms of Reference This report strives to evaluate the effectiveness of Choppies Enterprises Limited ERM, using the ISO 31000 Risk Management framework as a standard, documenting the findings...
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...| ELITE 9 | | | SUCCESSION MANAGEMENT | | Submitted to- Muhammad Abdul Baset Assistant Professor Department of Management Studies Jahangirnagar University, Savar, Dhaka. Submitted by- ELITE 9(Academic Group) Session: 2014-2015 Department of Management Studies Jahangirnagar University, Savar, Dhaka. Date of Submission: 25/02/16 ------------------------------------------------- Group Name- ELITE 9 Department of Management Studies Jahangirnagar University Savar, Dhaka. Members of the group- Name | ID | Tasnia Zannat | 682 | Farjana Akter | 684 | Manal Binte Md Ullah | 686 | Homaira Amin | 689 | Asura Akter Sunna | 692 | Raiyan-Ul Jannah | 694 | Munmun Rahaman | 695 | Fahima Sultana | 696 | Robiul Awal Tuhin | 697 | Course Name: Human Resource Planning Course Code: HRM-502 Group leader: Tasnia Zannat ID-682 Letter of Transmittal 25th February, 2016 Muhammad Abdul Baset Assistant Professor, Department of Management Studies, Jahangirnagar University, Savar, Dhaka. Subject: Submission of an assignment on “Succession Management”. Dear Sir, We the students of Elite 9 group from Department of Management studies of 1st batch. We are going to submit our report as the part of our course objectives. During the process of preparing the assignment, we get the chance of...
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...Project Failure Case Studies and Suggestion Nilofur Abbasi Iqra Wajid Zahra Iqbal Fareeha Zafar, M.phill Business Administration, Kinnaird College Lahore, Pakistan M.phill Business Administration, Kinnaird College Lahore, Pakistan M.phill Business Administration, Kinnaird College Lahore, Pakistan Ph.D University of Derby, Currently Working in Govt. College University Lahore Pakistan ABSTRACT In this research paper three different case studies are taken under consideration. Step by step all three cases are described. These cases are about projects which had to face failure. Therefore, the reasons for failure of projects are identified and recommendations are given to ail failing projects. First case study is about British Petroleum which is oil and Gas Company had to face situation which was not just critical but new for any oil company. The incident occurred due to explosion in the deep-water horizon while BP technical staff was trying to drill a well. Moreover, BP was not able to stop oil flow for three months. Second case is about Chrysler and Fiat. Both were automobile companies and had to face failure. Marchionne was the one who saved both companies. The main focus of this case is merger of these two companies and the challenges faced by CEO due to organizational change after merger. Third case study is about Millennium Dome, one of the controversial projects in the history of construction projects because of number of reasons. With the help of case study we will be able...
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...CHAPTER – I 1.1 Background of the Study Internship program is a career-related work experience conducted as an integral part of the academic program. It is very essential to get exposure to "real" business projects and problems, development of managerial skills and increased insights regarding organizational work environments thereby enhancing communication skills as the foundation of professional correspondences and understanding the general structure of most business situations by acquiring the new information and ideas so as to apply them for the benefits of the organization as well as the one’s own career development. The term “Bank” was derived from an Italian word “Banca”. Banks perform various specialized functions. Banks may be defined in terms of the various functions it performs. So it is quite impossible to define bank in just one word. However, bank can be described as such a financial institution that takes in funds as deposits repayable on demand or at short notice. According to the Shorter Oxford English Dictionary, “Bank is an establishment for the custody of money received from or on behalf of its customers. Its essential duty is to pay their drafts on it, its profit arise from the use of the money left unemployed by them.” Types of Bank There are many types of bank among them the main types of bank can be categorized as follows: a) Commercial Bank b) Development Bank b) Central Bank 1.2 Brief Introduction about Commercial Bank A commercial...
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...CHAPTER ONE INTRODUCTION 1.0 Background to the Study Energy is crucial to any activity. It is difficult to imagine any activity that will not require some form of energy to execute. Energy, presents itself in diverse forms for the functioning of various machinery. Energy sources all around the world are crucial for production; a relation can thus be drawn between productivity levels and energy consumption. Renewable energy supply form solar, wind, geothermal, bio energy, hydropower, ocean, hydrogen and fuel Cells as well as green power are vital to our survival as a human race. These sources of energy are important because, they are clean and pose little danger to our environment than energy from fossil fuel. Additionally renewable energy...
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...CHAPTER - XIII POWER SECTOR REFORM IN ORISSA: A CASE STUDY IN RESTRUCTURING As per our Constitution, power industry is the combined responsibility of the Central Government and the State Governments. The ESA (Electricity Supply Act) envisaged three kinds of entities in the power-sector: State Electricity Boards (SEBs), generating companies, and licensees. SEBs are allowed to generate, transmit, and distribute electricity within a state; they enjoy all the powers of a licensee. They account for 65 per cent of the power generated in the country. Generating companies are responsible for supplying power to the grid without the specific responsibility of retail distribution. Major players in this category are NTPC (National Thermal Power Corporation), NHPC (the Hydro-electric analogue of NTPC), and NPCIL (Nuclear Power Corporation of India Limited). Though ESA allowed only the governments to set up generating companies till 1991, thereafter it was de-reserved. Independent Power Producers (IPPs) now fall under this category. Existing licensees are private-sector utilities licensed by a State Government for power generation, distribution, or both within a specified area. For example, Gujarat Industrial Power Corporation is only into generation and Central Electricity Supply Corporation (in Orissa) is confined to distribution, whereas Bombay Suburban Electric Supply Limited (BSES) and Tata Electric Company (TEC) are involved both in generation and distribution. The...
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...Corporate Partners Research Programme Harnessing creativity and innovation Kelly Drewery H A R N E S S I N G C R E AT I V I T Y A N D I N N O VAT I O N Contents 1. Harnessing ‘creativity and innovation’: why the interest? 2. Harnessing creativity: sharing and generating ideas 2.1 Creativity in the organisation 2.2 Looking outside the organisation for creative ideas 2.3 Supportive and obstructive features for harnessing creativity 2.4 Work processes 2.5 Assessing creativity ‘wealth’ 3. Harnessing innovation: options for implementation 3.1 Innovation in the organisation 3.2 Strategic partnerships or outsourcing 3.3 Takeover of another company for their product/service 4. What can organisations do now? Bibliography 2 3 3 4 5 11 11 15 15 18 20 21 23 © The Work Foundation Registered as a charity no: 290003 First printed July 2003 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording and/or otherwise without the prior written permission of the publishers. This publication may not be lent, resold, hired out or otherwise disposed of by way of trade in any form, binding or cover other than that in which is is published, without the prior consent of the publishers. H A R N E S S I N G C R E AT I V I T Y A N D I N N O VAT I O N 1. Harnessing ‘creativity and innovation’: why the interest...
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