...provided and received. In addition, the hospital corporation is also a key component to several ongoing research projects for treatment, cures and vaccinations for various diseases and infections, all of which rely on the supplies provided by other research facilities or specialty supplies provided by specific supply companies who could be impacted by these potential disasters, which would debilitate and prolong the success of the research projects effected. Risk Source (A2) The source for the first risk identified would be nothing more than age and continual use. The boiler at the Disaster Recovery site is the original boiler for the building which is approximately 50 years old, and even though the boiler has been provided annual maintenance, the fact the boiler has been actively in use for the past 50 years, the likely hood of its demise is absolutely imminent and a very real threat to the continual success of the Disaster Recovery site. With regard to the communication lines at the corporate facility, and the second risk identified. Currently there is construction of a major bypass that...
Words: 2981 - Pages: 12
...SCATTERGOOD V/S DAPHNE SCENARIO 1 : Scattergood is a HR of a company .Scattergood is anxious about involving subordinates in decision making of company , fearing a loss of authority and support. Scattergood thinks that because his organisation is constantly under pressure with tight deadlines to meet, he doesn’t have time to let employees join in the decision making process. Scattergood ‘s arguments : 1. He believes that participation would not work in his organisation 2. Scattergood is afraid of losing his authority if he gives his employees a chance to share in the decisions made in his organisation. 3. He believes if he disagreed with their decision he would have to overrule them and his authority and support would be undermined. 4. There is not enough time to let his employees participate in any decision-making. SCENARIO 2 : Daphne is another HR who has same authorities as scattergood & she argues back to scattergood Daphnes’ Arguments 1. If you allow your employees a voice in the decisions that affect them, they are more likely to support the final choice. 2. I feel that the decisions I am making are better since I have included my subordinates in the process. They are often closer to the problem than I am and, as a result, they can raise questions that I have not considered. 3. I have as much authority as I ever had and perhaps even more. In terms of my ability to get things done, I would say it has definitely increased...
Words: 312 - Pages: 2
...Japan Julian Diaz III and Alan J. Ziobrowski Georgia State University Nico B. Rottke European Business School Using data from three countries that differ economically, culturally, and geographically, this study examines the role of Prospect Theory’s reflection effect, a psychological factor, in combination with Uncertainty Avoidance (UA), a cultural factor, on the choice of mortgage products. Experiments were conducted using business professionals in the United States, Germany, and Japan. The results suggest that risk-averse people tend to become more risk seeking, leaning more toward adjustable-rate mortgages (ARMs) when choosing a mortgage type, and that this psychological effect may underlie the mortgage choices of people who tend to choose ARMs, even across countries with different cultures. Keywords: Adjustable-rate mortgage, Fixed-rate mortgage, Prospect theory, Uncertainty avoidance, Experiment INTRODUCTION In terms of household risk management, the choice of a residential mortgage is one of the most significant decisions to make. At the end of second-quarter 2005, the value of outstanding U.S. residential mortgages was $8 trillion, 65% of the 2005 GDP (Federal Reserve Board of Governors [2005] In Germany, the residential mortgage debt ratio as a percentage of GDP was 51% at the end of 2006 (European Mortgage Federation). In Japan, the value of outstanding residential mortgages was 190 trillion Yen in 2005, which was 36% of the GDP (The Government Housing...
Words: 7970 - Pages: 32
...INF 370 – Information Security – Week #4-1 attendance check 1. Read the article “Privacy and Security / Emotion and Security” by Rose McDermott published in Communications of ACM, February 2012: http://dotlrn.aubg.bg/dotlrn/classes/departmentofcomputerscience/sINF370/INF370S12/file-storage/view/Handouts/Privacy_and_Security_-_Emotion_and_Security-Communications_of_ACM-February2012.pdf Make a short resume (about 200 words) of the publication. Responses to presumed threats or attacks are usually emotionally based. People tend to misunderstand or shift their attention to risks that are not very high while forgetting about the not-so-obvious threats. However, these threads are in most cases far more dangerous than the obvious and easy to predict dangers. According to Prospect Theory models individuals tend to weight probability not in the linear fashion advocated by standard normative models of probability theory, but rather the subjective functions that overvalue certain low-probability events. Fear and anger make people anxious and nervous, cause them to make worse decisions and make mistakes. 2. Using AUBG Web find what information security policy, standards, practices and procedures exist. What is the most important for a policy to be effective? http://www.aubg.bg/RapidASPEditor/MyUploadDocs/Information_Security_Guide.pdf For a policy to be effective it needs to be observed and applied. No matter how great a policy is if people do not comply...
Words: 254 - Pages: 2
...life as opposed to a part-time movement. Finally the effectiveness of the team is measured by the group’s collective outcomes. Further, weighing the pro’s and cons to involvement of groups in decision making process can be cost effective. Research confirms that groups outperform the average individual by a long run. Therefore, our text mentions five important issues to consider when utilizing groups to making team building decisions. Groups are less effective than any one individual. The concept “two head are better than one” rings very clear in an environment setting. A group who presents the elements of over-confidence can foster “groupthink”. Our text defines some symptoms of groupthink which includes invulnerability where optimism and risk taking is embedded, rationalization- Eventually leadership roles take into account the situation and the members must agree upon something regardless of what others want, illusion of unanimity- silence is interpreted as agreement. These are the individuals who are unsure about a subject and decides...
Words: 797 - Pages: 4
...There are many factors such as attitude, perceptions to influence people’s mind while making a decision to go on a holiday. Tourists’ decision-making relates to their behaviours. In this way, in order to share as much market as possible, it is worth to analyzing people’s behaviours. This assay will be evaluated in three sectors namely; psychological, personal, and social. (Marketing-consumer behaviour) First of all, within psychological field, motivation is being considered the most important one. There are dissimilar factors behind complex motivation. To be simplified, it is much understandable to analyze motives by Maslow’s(1970) Hierarchy which in order are physiological, security, social, esteem and the last, self actualisation needs. As soon as people achieve amount of level, they move on to the next stage gradually. For instance, in first stage human have physical needs such as hunger or thirsty; when they achieve the fulfilment, they move on seeking for higher order needs like security. (Cooper, Fletcher, Fyall, Gilbert & Wanhill, 2008) Attitude is another vital key of tourist decision making. Attitude is composed by cognitive, affective and conative. Cognitive, in other word, is called the belief or knowledge which based on previous experiences, individuals’ own opinion to the place or getting the information from other people; the affective describes the feelings and emotions about the destination and assess the experience basing on emotions; the...
Words: 979 - Pages: 4
...machine guards shall be inspected by the equipment operator to determine that it is safe condition prior to each use for example defective guards. b) Reporting procedure for workplace safety and health issues Firstly they have to identify for examples unsafe equipment, unsafe condition/environment, injuries, near misses or even illnesses. Report to the immediate supervisor on site. The supervisor will write a report and the management will provides feedbacks on the issues and addressed it quickly. Before that the supervisor and the workers will act on the issues on hand immediately. c) The identification and reporting of potential hazards and resolving risk associated with work The 3 steps that are being used are hazard identification, risk assessment and risk control. Workers that observed and identify the potential hazards will report to the supervisor or manager seen in that area. Supervisor or manager will write a report and sent it to the safety department. All hazards reported are reviewed at the end of the month. Monthly hazard inspections are conducted every month using a hazard checklist. Job safety checks to see potential hazards while the workers are working and safety audits conducted by the safety department would result in written report and recommendations for improvement. d) Activation of emergency services In case of emergency such as illnesses or injuries the person at scene first will call for ambulance...
Words: 438 - Pages: 2
...major companies have caused concern. These thefts were caused by companies’ inability to determine risks associated with the protection of their data and these companies lack of planning to properly manage a security breach when it occurs. It is becoming necessary, if not mandatory, for organizations to perform ongoing risk analysis to protect their systems. Organizations need to realize that the theft of information is a management issue as well as a technology one, and that these recent security breaches were mainly caused by business decisions by management and not a lack of technology. After counter-terrorism and counter-intelligence, cyber crime is the third highest priority for the U.S. Federal Bureau [4]. With the rise of the theft of information and the lure of big profits for this stolen information, it is necessary for information systems to have the ability to protect this valuable asset. It is estimated that a credit card number unsupported by any other documentation is worth $10, and a credit history report retails for $60 [2]. Recent breaches of information systems that have lead to thefts of information have shown that management practices and not technology was part of the issue and in some cases the primary cause of the theft of the information. With each of these thefts, there is a third party committing a crime, but in each case, risk analysis could have been used to avoid or to help mitigate the theft....
Words: 3469 - Pages: 14
...implication is showed in the reward system; the rewards are going to be given to the individual. Where in the other hand, collectivist mindset represent the group instead of themselves. Each mindset should be treated accordingly. Power Distance (who is making the decision) Culture that are low power distance sharing of power is a must. The employees are expected to be involved in the decision making. Managers need to learn how to make the decision via power sharing. People with high power distance mindset tends to operate under instructions. Leadership management style needs to be customized. Uncertainty Avoidance; how decision is made High uncertainty avoidance = Low risk taker and vice versa. The decisions are made quickly as the quickest as possible manner is important. Low uncertainty avoidance= high risk taker Masculinity (equality in the workplace) Managers needs to understand when they are working in the Masculine culture, they need to accept it not to change it. For example: no female managers to middle east. Long term short term Planning, setting goals, target, and objectives. Short term wants to achieve everything in the shortest period as possible. QUESTIONS 3 1st part: current theories give reason to motivate people. 2nd part: whether the framework will work motivating * Maslow’s needs * McLalend Goal setting theories and rules setting theories are content and process theory. Why motivation always connected to satisfaction of needs? needs = univerasal...
Words: 311 - Pages: 2
...Scenario The Smith family annual reunion is on the first Saturday in May. There is a possibility of cool or rainy weather on that day. The family has reserved free space at a local park for their event. An additional charge, one of the pavilions that will provide shelter is available. If the weather is bad and the shelter is not rented, then the event may need to be canceled and family members will have spent the money for travel and preparation needlessly. Should the family spend the extra money to rent the shelter, even though it may not be needed? Sensitivity Analysis In the Smith reunion scenario, the dependent variable is the rented of the pavilion while the independent variable is the weather conditions. Sensitivity analysis is a technique that determines how different values of an independent variable will determine a particular dependent variable under a given set of assumptions (Pannell, 1997). One of the uses for sensitivity analysis is assessing the “riskiness” of a strategy or scenario in order to make a decision by identifying key values. Its purpose is to minimize variable (stricture) number calibration and determine what parameters will have the greatest impact on simulation precision. One Parameter Analysis A one-way sensitivity analysis evaluates the changes the impacts the results of a situation by identifying the key drivers (Taylor, 2009). On the day of the Smith family reunion, weather conditions are the determining factors as to rent...
Words: 559 - Pages: 3
...1. To escape their dependency on a single industry, Monmouth managed to reduce their business risk by acquiring small different industrial manufacturers in addition to becoming a market player in the hand tool business, by acquiring 3 of the market leaders, a move that diversified Monmouth’s business and ultimately reduced their business risk. In analyzing the financial risk, the continuous acquisitions have definitely increased the operational risk for the company. Since the case didn’t provide us with the financial statements for Monmouth, we can assume that in order to complete the acquisition they have to issue stocks as they exhausted (or will pretty soon exhaust) their debt capacity. 2. Based on the DCF valuation and using a WACC of 8.25% (the beta assumed to be 1, the average beta of comparable firms and the coupon rate to be 7.96%, the rate for BB rated companies) and a growth rate of 5.5%. The fair price is $40.4 per share for Robertson, lower than the $50 offered by Simmons to sell their stocks but higher than the current market price of $30. As for the peer multiples, and due to the lack of information for the comparable companies we only managed to calculate the EBIAT multiple, the earnings multiple and the book value multiple using the three comparable companies, Actuant Corp, Snap On Inc., and Stanley Works. The result of the multiple valuation showed a fair price of $40.1 per share based on the EBIAT multiple and a value of $29.61 per share based on the...
Words: 681 - Pages: 3
...Veterinary medicines are used to keep animals healthy and include wormers, antibiotics and vaccines. Veterinary medicines can also cause harm if they are not used properly. Veterinary Medicines Legislation The information I have obtained applies to the Veterinary Medicines Regulations 2006 which display the procedures, manufacture, controls, supply and use. It is enforced to protect the health and safety of farmers and people using veterinary medicines in their day to day work. However each individual is responsible for the own health and safety and the health and safety of others around them. Health and safety of use of Veterinary Medicines on farms help the people who administer the product to do so safely and make sure that health risks...
Words: 1088 - Pages: 5
...in antihypertensive, tranquilizers, and oral contraceptives. The company has almost debt- free balance sheet and growing cash reserves (40% of net worth in 1981). AHP was able to gain this huge success in these lines was by marketing expertise. CULTURE OF THE BUSINESS AHP's corporate culture distinctive and this culture had several components. First, the company's culture was known to be reticence. A second element, that the managerial philosophy of AHP was prudence and had a strict financial control. For example, all expenditures that are greater than $500 had to be personally approved by Mr. Laporte, who was the CEO of AHP, even if was authorized in the corporate budget. Another important component of AHP's culture was conservatism and risk aversion. Finally, The Company has a long- standing policy of centralizing, where the chief executive had complete authority. STAGES OF DEVELOPMENT AHP's managerial philosophy was proven to be successful as it produced impressive results. AHP's financial performance was stable with consistent growth and profitability. In the year 1981, the firm was able to increase sales, earnings, and dividends for 29 years. However, this growth has been steady between 10% and 15% annually. Moreover, AHP had 25% return on equity in the 1960's, but it has risen tremendously to 30% in the 1980's. AHP had been able to finance this growth internally while paying out almost 60% of its annual earnings as dividends. Unfortunately, AHP's price- earnings ratio...
Words: 2139 - Pages: 9
...Biblical Principles in Decision-Making Billy Manning Belhaven University MLS650: STRATEGIC MANAGEMENT August 20, 2013 Biblical Principles in Decision-Making Process Every manager and leader has to go through the decision-making process. It is my belief that the process should begins by applying biblical principles in an effort to discern the will of God. God delights in revealing His will to those who are eager to follow His precepts. For example, in our decision-making process, managers and leaders should apply the same attitude of Jesus when he said, “Not My will, but your will be done” (NKJV, 2009). As managers and leaders, we should welcome the Spirit of God in our decision-making because the Spirit of God will guide you into all truth, and it is without error. He will not lead or speak on his own authority, but that of God himself, and will declare the things to come” (NKJV, 2009). Manager and effective leaders should not make any plans without involving God. For example, James says that we make decisions to go places to buy, sell, and make profit not knowing what will happen the next day. James makes it clear that we ought to say, “If the Lord wills” making Him an essential partner in our decision-making process. God’s revelation of what He wants us to do come through His word. For example, God tells us that His word is a lamp to our feet and a light to our path (NKJV, 2009). We can count on this Biblical principle to guide us in our darkest moments of seeking...
Words: 453 - Pages: 2
...The risk associated with initiative and financial status of Disney provides an array of information to include development, and future performances. Increased competitor pressure internationally and domestically provides challenges and leads to additional marketing challenges to remain at the top of the food chain in the Theme Park Industry. The financial status of the United States economy and international economic struggles provides challenges, which impedes the process of taking on additional loans or investment responsibilities because of the fluctuation in the economy. The economic conditions of Disney provides objectives to manage interest rates by lowering loan cost and maintaining fixed debt ratio between minimum and maximum values set by company guidelines. Foreign policy plays a vital role in risk reduction by providing a hedge coverage with maximum and minimum percentages that does not exceed a five- year threshold. In addition (“VAR”) Value at Risk provides guidelines associated with a potential one- day- lost in normal marketing conditions at a 95% accuracy rate using currency sensitive financial instruments, interest rate sensitive financial instruments, and combined portfolio. In addition there are several risk associated with Disney financial status to include compliance risk, people in the workforce are working longer, which effects the dollar to include the climbing medical cost and increasing wages and the consumer demands during these tough economic, and...
Words: 267 - Pages: 2
