Interview with Kent Larson free essay sample

Energy is a leading electric and natural gas utility. Xcel Energy is an end to end provider of electricity. Electricity is provided from generation, to high voltage transmission, to distribution, to customer’s homes and businesses. Xcel Energy provides energy-related products and services to 3. 3 million electric and 1. 8 million natural gas customers. With regulated operations in eight states; Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin, revenues are more than $9 billion annually for the employer of 12,000. A commitment to the environment is vital to the core business practices of Xcel Energy. This strong environment focus has led Xcel Energy to become the number one provider of wind power in the country (Xcel Energy, 2008). Kent Larson is the Vice President of Transmission for Xcel Energy. In the organizational structure, Kent has twelve direct reports and over 2,000 employees report up through his direct reports. From those direct reports, he has six titled Directors of different aspects of substations, transmission, and design. We will write a custom essay sample on Interview with Kent Larson or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The other six direct reports are of various rotational managers, administrative assistants, and governance. Kent directly reports to Paul Bonavia, the President of the Utilities Group, who reports to Dick Kelley, the Chairman, President, and CEO of Xcel Energy (Appendix 1). A unique management style can be derived from your past experience. Different experiences managers draw from should be used to motivate employees to encourage a high level of performance and achieve organizational goals (Jones George, 2008, p 62). Kent’s vast experience has led him to lead confidently based on his long list of positions held. Kent has held various positions throughout the company. He began his career as an electric designer, before moving into the role of an Operating Engineer in St. Paul. He then became involved in cost benefit analysis as a Traveling Engineer. From there, he became the Director of Outstate Construction, Operations, and Maintenance (ND, SD, Non-Metro MN) located in Fargo, ND. He spent time as the Director of Sales in Minnesota, North Dakota and South Dakota Regulatory, MN State Vice President, before his current position as the Vice President of Transmission. A typical day for Larson is anything but typical. With his wide area of responsibilities, he often has a dynamic day. The majority of the time he spends at meetings and communicating via email. He has to be â€Å"On your toes and ready to go† at all times (K. T. Larson, personal communication, October 15, 2008). Another pitfall of his high level position is that he has to be careful of what he says. The majority of the meetings he attends, he has to give presentations anyone from the Public Utilities Commission, Corporate Executives, Mid-Level Managers, to Union Front Line employees. He has to carefully weigh any response he gives to a question on the off chance that his response will invoke a surety. At his level, caution needs to be taken so that comfort is not given where it should not, nor is fear spread when is should not be. Preparation is vital in planning for his meetings. Many of the meetings he attends, he is a presenter. Kent makes sure to prepare himself well ahead of time for any meetings he leads. Usually, Kent defines his time commitments as 75% true management tasks and 25% other. His definition of management tasks are anything related to his job responsibilities. It could be anything from presenting at a meeting, attending a meeting, or being the recipient of a presentation. Being a corporate level manager, he deals mostly with results and not the process to achieve them. His strong focus on having strong direct reports seem to help facilitate this. The rest of his time is spent on various tasks, but mostly travel. His roles vary depending on the day and time of year, but basically he provides the direct link to the Senior Management from the Business Unit and that link from Xcel Energy to the regulatory organizations. Strategic Planning is the largest portion of Kent’s day to day function. He also relies heavily on his technical expertise as part of this planning process. The scope of his organization’s planning is vast. Kent’s strategic planning comes from anywhere from substation design, to transmission line design, while keeping corporate values and regulatory concerns addressed. Goal setting is another important function to Kent. He needs to know what is going on (K. T. Larson, October 15, 2008). In order for goal setting to occur, a way of measurement is required. Score Cards, are his preferred method. Score cards, done correctly, can all roll up into each other. Starting with a broad base, each business unit can roll up into a higher business unit until they reach the corporate level. This process not only helps the individual business units reach their goals, but also assure that corporate goals can be attained as well. A main process for Kent’s approach to management is to hire good people. You have to have a strong team at his level. Not only do his direct reports need to have a strong sense of team work, but they must work well together. If they do not work well together, he is not afraid to replace them. His direct reports are there to meet corporate goals. If those direct reports can not work well together, he will replace them with those who will for the betterment of the company. Allocation of his time to his employees is different today than it was earlier in his management career. Today, his direct reports have corporate goals. In the past, he managed performance based groups. He still tries to allocate time though based on need. New employees will have much more of his time than those who are more experienced. He wants employees to work to their potential, but potential is not a defined limit. Some employees have a higher potential than others. His goal as a manager is find that potential and develop that into the highest possible outcome. He feels that direct feedback is the only way to manage. It is very important have the direct feedback between himself and his employees whether is it positive or negative. The ability to be able to both give and receive constructive criticism is vital to any strong manager. Xcel Energy would currently be classified as a Matrix organization. Matrix organizations are an attempt to combine the advantages of the pure functional structure and the product organizational structure. Companies, such as Xcel Energy, that are project driven companies, are ideally suited for this management structure. In a matrix organization, each project manager reports directly to the vice president and the general manager. Since each project represents a potential profit center and/or reliability enhancement, the power and authority used by the project manager come directly from the general manager. Information sharing is mandatory in such organizations, and several people may be required for the same piece of work. However, in general, the project manager has the responsibility to maintain technical excellence on the project. Each business unit is headed by a department manger whose main responsibility is to ensure that a unified technical base is maintained and that all available information can be exchanged for each project (Visitask, 2008). At Xcel Energy, many different levels of the engineering staff could be swapped out to a project manager in title alone and nothing would change. Rather than having true project managers, the engineers take on the responsibilities of most project management. This type of structure does have its benefits and weaknesses. Depending on where you sit in the organizational ladder, the centralized choices, standard outcomes, and Operational Companies being decentralized can either help or hinder the process. Conflict can arise because of no clear lines of responsibilities between the centralized company and the state jurisdictions. Beginning in 2000, Xcel Energy was managed from a central, large corporation aspect. In 2005, Public Utility Commissions required that each individual Operational Company be able to attest for its financials and prove that the money was being spent in each state. This led to having both centralized choices as well as jurisdictional decisions. Financially, the accounting is better tracked through this process and helps to build a rate case to the Public Utilities Commission. Other problems have surfaced though trying to standardize equipment. Silos have developed in all aspects of the design and construction phase, mostly dealing with standardization of equipment. For example, Texas uses the same size and type of underground conductor that North Dakota does. The climates are completely different during the winter and create many operational challenges. For being such a large company spread over such a vast territory, Kent believes this strategy is best for the company at this time. The overall benefits of being structured this way currently outweigh the negative aspects. In theory, if this changes, Kent sees it as Corporate Management’s responsibility to change to organizational structure. Once again, put the best members together to make the team work in the best possible manner. Digging deeper into the interpersonal relationship side of management, Kent believes that management must be cognizant of each work groups needs and idiosyncrasies. Xcel Energy hires all classifications of employees from engineers, lawyers, analysts, computer IT, technicians, administrative assistants, to union line workers. It is important to understand how different management theories affect the behavior and attitudes of employees. Specifically cited, union line workers are viewed as Theory X employees. It’s not that all union employees are inherently lazy, but their union rules do not reward thinking outside of the defined union work rules. Any extra or additional hard work outside of the standard union rules is not encouraged or rewarded. Managers of union employees must closely supervise these employees to ensure that daily work is completed. Company managers and union management have created a strict set of work rules as well as a well defined punishment system. In contrast, exempt employees; engineers, lawyers, analysts, are managed with the Theory Y thought process. Most managers at Xcel Energy allow the employee to take ownership for their daily work process. They allow the employees to have the resources necessary to achieve both organizational goals and individual goals (Jones George, 2008, p 66). One thing Kent has also learned that each manager brings their own individual twist to management theory. The longer he has been with Xcel Energy, the more tolerant he has become. He wants to judge the end results. He is not so concerned with whether a person fits into a certain profile, but what the outcomes that person achieves. From all accountable sources, Kent Larson is a highly regarded manager for Xcel Energy. His ability to lead his business units to accomplish goals set before them is undeniable. One thing that sets a good leader apart from an ordinary manager is the impact that that manager has on those employees once they are no longer their manager. The most rewarding feeling that Kent has had is that even though he is not someone’s direct manager, they value his opinion and ask his opinion. It is important to try to develop a relationship with subordinates to nurture this kind of relationship. In daily management, you have to embrace the fact that not all managers will manage the same. Kent feels that you should not run your organization like a dictatorship. In contrast, Dave Sparby, President and CEO, NSP-MN, micromanages his direct reports. Neither style of management is inherently wrong, but the ability to understand the difference and be able to adapt to your employees is important to becoming a successful manager. It is important to understand the human aspect of managing just as much as the financial or technical side. Without good employees working with you as well as for you, it is difficult to be a successful manager in modern day businesses.

Free Essays on Jeffrey Dahmers Victims

Introduction Jeffrey Dahmer was born in Milwaukee May 21 1960 to Joyce and Lionel Dahmer Little did his parents know at the time of his birth that there son would become one of America's most famous serial killers not only for the amount of victims which he had killed but also for dismembering them and his necrophilia tendencies. There were warning signs through his up bring but they were blown off as just child behavior. His father recalls in his book when Jeffrey was around the age of six his father had swept the bones of a dead animal out from under the porch. He said he could see the excitement on Jeffrey’s face at the sounds the bones made rattling together. It would not belong before he was patrolling the roadsides looking for fresh road kill to take home and dissect. Dahmer by the age of fourteen had begun fantasizing about killing men and having sex with them. It would not be until after Jeffrey graduated from high school. Victim 1 A Nineteen year old Steven Hicks was walking along side the road on a hot June day. He was more than happy to except a ride from what seemed to be such a nice guy. The two hit it off, according to Dahmer’s case file and returned to Dahmer’s home. Reports differ some say that the two drank beer and hung out while others claim the two drank until drunk and then had sex. (Dahmer claimed they had consensual sex) Dahmer then admitted that he became outraged when Hick’s decided to leave, he calmly hit him in the head with a dumb bell killing him. To dispose of the body he cut it up and packed it in plastic bags, which he buried in woods behind his parent’s home. That fall Jeffrey attended Ohio State University were he flunked out the first semester. By the end of 1978 he had voluntarily enlisted in the army and was stationed in Germany. He remained there for a few years until he was discharged for alcoholism. At the time of discharge he briefly lived in Florida before returning to... Free Essays on Jeffrey Dahmer's Victims Free Essays on Jeffrey Dahmer's Victims Introduction Jeffrey Dahmer was born in Milwaukee May 21 1960 to Joyce and Lionel Dahmer Little did his parents know at the time of his birth that there son would become one of America's most famous serial killers not only for the amount of victims which he had killed but also for dismembering them and his necrophilia tendencies. There were warning signs through his up bring but they were blown off as just child behavior. His father recalls in his book when Jeffrey was around the age of six his father had swept the bones of a dead animal out from under the porch. He said he could see the excitement on Jeffrey’s face at the sounds the bones made rattling together. It would not belong before he was patrolling the roadsides looking for fresh road kill to take home and dissect. Dahmer by the age of fourteen had begun fantasizing about killing men and having sex with them. It would not be until after Jeffrey graduated from high school. Victim 1 A Nineteen year old Steven Hicks was walking along side the road on a hot June day. He was more than happy to except a ride from what seemed to be such a nice guy. The two hit it off, according to Dahmer’s case file and returned to Dahmer’s home. Reports differ some say that the two drank beer and hung out while others claim the two drank until drunk and then had sex. (Dahmer claimed they had consensual sex) Dahmer then admitted that he became outraged when Hick’s decided to leave, he calmly hit him in the head with a dumb bell killing him. To dispose of the body he cut it up and packed it in plastic bags, which he buried in woods behind his parent’s home. That fall Jeffrey attended Ohio State University were he flunked out the first semester. By the end of 1978 he had voluntarily enlisted in the army and was stationed in Germany. He remained there for a few years until he was discharged for alcoholism. At the time of discharge he briefly lived in Florida before returning to...

Ismenes Monologue From Antigone

Ismene's Monologue From Antigone This dramatic female monologue is a selection from Act One of Antigone by Sophocles. About Ismene as a Character Ismene is a fascinating character. In this dramatic  monologue, she conveys grief and shame as she reflects upon her father Oedipus’ sad history. She also warns that Antigone’s fate and her own might be worse if they disobey the laws of the land. She is at once melancholy, fearful, and diplomatic. Context of the Monologue Within the Play The brothers of Ismene and Antigone battle for control of Thebes. Both perish. One brother is buried as a hero. The other brother is deemed a traitor to his people. When the corpse of Antigone’s brother is left to rot out on the battlefield, Antigone is determined to set things right, even if it means defying the laws of King Creon. Her sister Ismene is not as headstrong. She is sad for the death and dishonor of her brother. However, she does not want to risk her life by upsetting the â€Å"powers that be.† Ismenes Monologue Bethink thee, sister, of our fathers fate,Abhorred, dishonored, self-convinced of sin,Blinded, himself his executioner.Think of his mother-wife (ill sorted names)Done by a noose herself had twined to deathAnd last, our hapless brethren in one day,Both in a mutual destiny involved,Self-slaughtered, both the slayer and the slain.Bethink thee, sister, we are left alone;Shall we not perish wretchedest of all,If in defiance of the law we crossA monarchs will?- weak women, think of that,Not framed by nature to contend with men.Remember this too that the stronger rules;We must obey his orders, these or worse.Therefore I plead compulsion and entreatThe dead to pardon. I perforce obeyThe powers that be. Tis foolishness, I ween,To overstep in aught the golden mean.

Sustainable Fashion Essay Example | Topics and Well Written Essays - 1000 words

Sustainable Fashion - Essay Example The paper "Sustainable Fashion" concerns the project of designing a cohesive collection based on a specific inspiration by using sustainable fabric. Sustainable fashion is a fashion that aims to be environmentally friendly. It is part of the larger trend of "ethical fashion,". It is not a new trend that is has been said `Sustainable Fashion is not a short-term trend, but one that could last multiple seasons. ‘Vogue, May 2007. While environmentalism used to be distinct in fashion through a percentage of sales being donated to a charitable cause, most of the fashion designers have recently adopted the idea of sustainability. They are using more environment friendly materials and methods in clothing production. Designers claim that they are trying to incorporate these sustainable practices into modern clothing, rather than producing "dusty, hippy-looking clothes." Sustainable fashion is essentially more expensive than clothing produced by conventiona methods. Regarding the Sharpen Sustainable Fashion by Gwitt A. and Rissanen T. from week 4, it is easy to relate the idea of sustainable fashion with some elements. ‘While achieving sustainability is the goal of sustainable development, the word ‘sustainability' has several meanings in the today's world and is frequently reduced by associating it with ‘environment.' Some people define sustainability as the balance between three elements: economy, environment, and social equity. However, since human are struggling with ecological balance in every aspect.

Io Vidi in Terra and Baroque Music Essay Example | Topics and Well Written Essays - 750 words

Io Vidi in Terra and Baroque Music - Essay Example It was on a Friday evening and the all roads were heading to Las Vegas where revelers were raring to go all the way till daybreak. I was one of them, considering that I had an undying love for rock music, and watching my favourite artists performing live was more than a blessing to me. One of the rock star artists, that I had always wished to watch performing live was Ray Collins. For sure, I will confirm that I could not believe that I was going to party all night long and dance to my favourite rock music. The stage was all ready with state of the art equipment and colorful lights sparkling intermittently. Big speakers were strategically set in all corners of the building, sending a clear picture of the deafening sounds that revelers will be presented with. Even ahead of the start of the concert, the building was packed to capacity. Anxiety could be read in everyone’s faces as many revelers kept streaming in. As the sounds of the speakers began exploding from every corner, ev eryone went wild. The diehard fans began screaming at the top of their voices. The massive stage was reverberating with the passionate sound of the guitar as the American finest rock stars started streaming in with style and full of spirit. The mammoth crowd began moving back and forth in an unremitting wave. There was hardly any individual space as everyone pushed and shoved others around them. At this time, the audience was crowded like the sea. I was shocked to realize how people adored rock music and much more partying all night long.

Beyond Bourgeois Gentrification Essay Example for Free

Beyond Bourgeois Gentrification Essay We’ve all seen those new work-live artist loft spaces in the remodeled industrial complexes next to the new galleries, cafes and office buildings that used to be factories, low-income housing tenements or warehouses. They look chic and modern while still trying to maintain their urban appeal. However, what does gentrification mean in our post-industrial urban society and how should we address its contradictory standing? According to the PBS special Flag Wars: What is Gentrification, it is the â€Å"general term for the arrival of wealthier people in an existing urban district, a related increase in rents and property values, and changes in the districts character and culture (Grant). In this vein, we can read gentrification from two perspectives. The first would be from the point of view of the newly arrived ‘wealthier people’ who see this process as an investment in urban renewal that brings down crime rates and increases the economic cultural capital of what was once a neglected and impoverished neighborhood. On the other hand, gentrification as seen from the perspective of the original community is thought of as another form of economic and geographic discrimination and exclusion due to the increase in rent and property values as well as the overall cost of living. The issue of urban displacement results in an unbalanced benefit for the already economically advantaged. UNESCO recently published an article concerning this contradiction: â€Å"Building projects become the centre piece of the city’s economy, justified by job creation, taxes, tourism and the building of large cultural complexes† (Smith). What makes this such a divisive issue and halts community building is that much of the new investment comes from the social class that fled to the suburbs during the white-flight era of urbanization. After fleeing to the suburbs due to a discomfort of having to live so close to other racial and ethnic populations, there is now a distrust of the new inhabitants by the pre-existing urban population who are being forced out of their own neighborhoods. So we must ask ourselves how we can overcome this contradictory social movement in a way that will be mutually beneficial to all involved parties. The best way to accomplish this would be to invite community dialogue in an effort to address all sides of the issue. An interesting study put out by the Urban Institute echoes this sentiment. They emphasize the need for â€Å"strategies used by nonprofit organizations, for-profit developers, and city agencies to ensure low- to-moderate-income residents can live in revitalizing and gentrifying neighborhoods† (Levy). This is essential in order make sure that all voices can be heard so that more than just money talks. If this can be done, urban renewal can be embraced and cultural diversity can flourish in a vibrant new community based on shared principles and the exchange of different ideas. We must abandon the notion that gentrification is either positive or negative, as many people have argued in the past. Gentrification is a social process that affects us all differently depending on our own cultural context. That being the case, let us open the discussion to the public at large so that everyone has an equal say in how their community will develop. Urban transformation is a constant presence that we need to shape into a vision of the future that we would all like to live in. References Grant, Benjamin. (2003). What is Gentrification?. PBS Flag Wars. Retrieved November 30, 2008, from http://www. pbs. org/pov/pov2003/flagwars/special Levy, Diane, Comey, Jennifer, Padilla, Sandra. (2006). In the Face of Gentrification. Urban Institute. Retrieved November 30, 2008, from http://www. urban. org/publications/411294. html Smith, Neil. (2007). From Gentrification to Forced Eviction – how should economic competitiveness be reconciled with social sustainability in historical districts?. United Nations Educational, Scientific, and Cultural Organization. Retrieved November 30, 2008, from http://portal. unesco. org/shs/en/ev. php

Mary Shelley’s Frankenstein and Christopher Marlowe’s Dr. Faustus Essay

Superman, Spiderman, Iron Man, Batman; these are some examples of the modern day hero. Most call this form of a hero a Super Hero. In the early nineteenth century, the popular hero of the day was the romantic hero. Mary Shelly gives a great picture of this hero in her novel Frankenstein. She uses Victor Frankenstein, the creator of the famous â€Å"Frankenstein’s Monster† as her character which embodies the traits of a romantic hero. The model was relatively new; however, Christopher Marlowe had written a character in the early fifteenth century which embodied the same characteristics. These attributes of romanticism in the form of a hero are seen in both Mary Shelly’s Frankenstein and Christopher Marlowe’s Dr. Faustus in very much the same way. The authors use their respective hero to show the flaws in human nature and humankind’s predisposition towards sin using such things as obsession, internal battles and differing moral codes. The romantic hero is obsessed with something, and usually this something is detrimental towards themselves and or their relationship with Christ. Victor is obsessed with two things: one, the creation of his monster and, two, finding his monster after his life is destroyed by it. Victor says that â€Å"so deeply was I engrossed in my occupation† that he â€Å"did not watch the blossom or the expanding leaves† which had previously enamored him(Shelly 34). Victor was so obsessed with the creation of his monster that he did not even leave his â€Å"lair†. This obsession led to health problems, seclusion from the world and his family, and ultimately to the deaths of several people because of the monster he completed. Towards the end of the novel, we see a Victor consumed with finding and killing the beast. He swears â€Å"to purs... ...arated by about three hundred years and different types of literature; however, Shelly and Marlowe use the qualities of a romantic hero to show that human nature is flawed and that man is prone to sin. They use the â€Å"qualities† of obsession, internal battles and differing moral codes to convey their message that â€Å"Bad company corrupts good character† so to speak, the â€Å"bad company† being humans and their sinful nature, and the â€Å"good company† being seemingly harmless qualities of a hero(1 Corinthians 15:33). Humankind should take their stories as an example and learn from it, by turning to God instead of those things. Works Cited Barker, Kenneth L., ed. Holy Bible. Grand Rapids, Michigan: Zondervan, 2010. Print. Marlowe, Christopher. Dr. Faustus. New York: Dover, 1994. Print. Shelley, Mary W. Frankenstein. New York, New York: Dover Publications, 1994. Print.

Pharmacoeconomics Notes Essay

The Confessions is a work by Augustine that outlines his sinful youth and conversion to Christianity. Augustine wrote it between 397 and 401 while serving as the bishop of Hippo Regius. In his book, Augustine gives an account of his own life from birth up to that point. He then wrote about other matters such as the creation of the world, memory and time. A big segment of the book is spent on Augustine’s confession of sins that he had struggled with and how he had pled to God for deliverance from those sins. Augustine writes about his disappointment in living an immoral lifestyle. He regrets having believed in astrology and followed the Manichaean religion. He also writes about how Nebridius helped persuade him that astrology was evil and how St. Ambrose helped in his conversion to Christianity. The Confessions is finally an address by Augustine to God in which he confesses his sins, faith, and praise. Augustine says that he wrote the Confessions for â€Å"a people curious to know the lives of others, but careless to amend their own.† Augustine was aware that people loved to gossip and look deeply into the lives of others to see how they could talk down a person and ultimately make themselves feel better. Augustine knew that his writing was going to be scrutinized but made it his purpose to tell the truth and demonstrate the providence of God in the life of a sinner. He didn’t want anyone to think any better of himself than he actually was. Another purpose in writing Confessions was to create an immediate bond between his new Christian community. His colleagues were distrustful of his pagan influenced education as well as his standing as an ex-Manichee. He wanted to let them know that he was trustworthy and he did that by putting on display the worst and best of his life. In essence, Augustine’s life became an open book for everyone to read and get to know personally. Augustine could have also written Confessions as an attempt to understand himself. He might have considered his enjoyment of sex and the pleasures of this world to be an unbearable weakness and he needed to confess in writing that God alone was his true love. It is obvious that Augustine is broken over his sin and it is probably something that consumed his mind. Getting this horrific past behind him was of the utmost importance and he did it through writing Confessions to God. The writing style with which Augustine writes the Confessions is  amongst other things openly bold, encouraging, and without remorse. This is definitely different from modern writers who try and disguise their true inner feelings while still trying to write with meaningful style. Augustine is not trying to hold back any part of his life that he might be ashamed of. It is quite the contrary as he confidently praises the Lord and declares God’s greatness. Augustine recognizes his place as a speck of dust that vies for a place in the presence of almighty God who created the universe. He is not ashamed to speak highly of his Lord and continuously gives you a feeling that he is not satisfied until he finds his rest in God. He is encouraging throughout his book as he conveys God’s faithfulness to him even when he was deep into sin. No matter what portion of the book one reads, he or she can always take comfort in the fact that no matter how far one runs from God, He is always right there waiting for us with arms wide open. In conclusion, Augustine is so focused on God, that he has no regret in sharing his mishaps and declaring God’s forgiveness. He knows that he ran far from God but that God was right there the entire time. He feels extremely foolish but at the same time so grateful for God’s unending grace. Augustine asserts with passion that he wants to be filled by God and as a result he can truly live.

Importance of Risk Management

MGD426 Risk Management Overview A risk is, consequently, a hazard that can derail an organization from accomplishing a business process, project, or any activity that is vital to a company’s sustenance. There are different classifications of risks: financial, operational, infrastructure, human capital, and marketing risks. These risks embody subcategories of risks that can negatively affect the company. Leverage, receivables, and investments are risks can hinder the financial situations of a company. The decline of profits, increased losses, and negative impact on business processes are some of the costs in the failure to control risks.Similarly, operational risk includes many losses that are associated with â€Å"internal processes, people and systems or from external events† (The Basel Committee, 2004). By continually improving operations, firms are better able to gain competitive advantage. Operational risks occur from the execution of a company’s business pro cess. Although it is a relatively vague concept, it can be summed into a three-fold focus: processes, people, and systems. Internal fraud can be categorized into unauthorized activity, as well as theft and fraud; where as external fraud can be categorized with systems security, and theft and fraud.Importance of Assessment and Management In order for an organization to achieve certain objectives, coming across risks is almost inevitable. Organizations that are aware of such calamities are, more often than not, enabled to actively manage hazards and encompass potential opportunities for competitive advantage. This precisely means that contingency planning is important as uncontrollable risks (i. e. environmental factors) can occur at any time. While an organization cannot stop these hazards from occurring, they can mitigate the negative effects.By mitigating these risks with necessary responses, the company can aim their resources at improving or continuing their business processes. T herefore, the emphasis is, principally, on identifying and managing these hazards. Sustainable value is essential to the company and its activities; minimized uncertainty of goal achievement as well as maximized possibility of success. Competing in a dynamic environment leaves gap for uncertainty of the future. Briefly touched upon previously, this enables certain risks to not be accounted for.Risk management, as aforementioned, is a discipline that needs to be implemented by all companies. It is becoming increasingly important because of the dynamics of the environments in which an organization runs (technological, political, social, etc. ). For example, the effects of natural disasters can be mitigated but not stopped. Terrorism is a risk that cannot be calculated and accounted for prior to. All these questions and inquiries relay back to the umbrella question; why is risk management and/or risk assessment important to an organization?Risk assessment is a portion of Risk Managemen t; it is a formulated procedure for making sure that firms are not exposed to deplorable hazards. Taking into context the previously mentioned information, it is not of much use if the scale of the risk is not measured. Once measured, the organization would rally against how likely it is and what the organization can/should/will do to mitigate its effects. Contingency planning, as mentioned, is a risk management technique that comes about based on the assessment of the risk.Building on risk assessment, a risk that is not managed correctly will cause the firm to be affected negatively. These negative effects can be financial, operational, infrastructural, related to human capital or market: classifications of risk. Moreover, risk management is only effective if the assessment is done correctly. Both go hand in hand; the magnitude of the risk determines the management procedures. Reducing the risk of accidents to the company can allow the company to better relocate its resources towar ds its operational needs rather than additional risk management or risk recovery.Risk Response The response to a risk is done by the concept of the 4 T’s (terminate, tolerate, treat, and transfer). By terminating risks, you are, inherently, doing things in a different manner and, thus, removing the risk. Tolerate means that nothing can be done a reasonable cost to mitigate the risk or the likelihood and impact are at a reasonable level. Moreover, treating risks is taking certain actions to control a risk by, either, mitigating the likelihood of it emerging or limiting the effect it will have on the business process/project.Lastly, transfer of risks is primarily the underlying principle behind insurance transactions. Specifically, a risk, outline in the insurance or contract, can be passed from a party who does not want the risk to another party who will take it (either for free or a premium – insurance). Financial Risk Management Financial risk management is, primarily , concerned with the economic value of an organization and the effects to it. The management aspect deals with the exposure to risk, and the response to it.Two primary risks involved in financial sectors of firms are credit risks and market risks (while others include Forex (foreign exchange), volatility, liquidity, inflation, etc. ). Since financial risk is a factor in all organizations, it is important to respond to any volatility that may occur – as it would affect the firm negatively. These risks primarily mean that a firm who is unable to appropriately manage their financial operations will be subjugated by losses. As stated previously, credit risk, which is the inability for a business partner to compensate for a loan or satisfy other monetary contract, will, obviously, damage the company.This is apparent since the company will be at a loss since the firm who adheres to a loan contract is not able to pay back the moneys. Risk assessment for this particular risk includes a â€Å"risk and control self-assessment† (RCSA). This is a set of directives, which help avoid any financial detriment because of fraud, carelessness, and/or technological malfunction. As with any other risk assessment technique, classification of whether it is low, medium, or high level risk is determined based on the estimated loss.This type of risk assessment falls under the ‘treat’ classification of risk response as a certain action is implemented in order to control/mitigate the risk. As stated, in this brief example, the importance of risk assessment and management is vital to an organization. Works Cited â€Å"Briefing Paper H: Risk Management. † Governance and Social Development Resource Centre. N. p. , n. d. Web. . â€Å"Corporate Governance Risk Management Policy. † Isle of Man Government. N. p. , n. d. Web.

The Historian and the Search for Truth Essays

The Historian and the Search for Truth Essays The Historian and the Search for Truth Essay The Historian and the Search for Truth Essay 1913), pp. 692-709 Published by: The University of Chicago Press on behalf of the American Historical Association [ 10 ]. Have a Historical Question? Ask a Historian! Dr. Karen Jolly http://www2. hawaii. edu/ [ 11 ]. Microsoft  ® Encarta  ® 2009.  © 1993-2008 Microsoft Corporation.

Application Letter for Communication Design - myassignmenthelp

All my life I have lacked the grade that was required to be a good student. I was not the child that my parents wanted. The only thing that interested me was art. In my life, I went through difficulties; the only thing that stayed with me was art, and I never lost that in my life. It stayed constant with time, and since then, I developed a liking for watercolours and contrasts. I never thought that there was so much to explore in this field. When I was in 11 th grade, my classmates were busy aspiring to become a doctor, engineer or a banker. The only thing I wanted was to paint the canvas and never grow out of it. Then, when I realized that I only want art all my life and pursue a career in art. Since then, I started working towards my passion for paint and art. I joined painting class, and to my surprise, I discovered that I have a love for art. It was soothing for me to escape into the world of art. After the course completion, I did not stop painting. Since then I took my passion seriously and purchased my paint, brushes and canvas. I started painting at home, it gave me a feeling of accomplishment, and I continued that.   After a while, I attended a workshop conducted by famous fashion icon and stylist, Alex Perry in Australia. My interest for art grew, and I started searching for a breakthrough to fulfil my career in arts. I searched through countless programs, courses and schools, but was not aware of what exactly I wanted. Finally, my search ended and I found FIT. It is a dream for me to land in the prefect fashion school in New York and was daunting for me. To apply for such a standard reputed college was beyond my expectations. My parents were silent; however, I thought that I cannot let my dreams go. I was scared. However, FIT is not just a fashion school for me rather my life experience. It is a challenge and a decision for the lifetime. I look forwards towards my journey at FIT and the upcoming challenges that I have to face. The opportunities that FIT will give me are far more rewarding. I love to paint, it gives me happiness, and I think nothing better that I can think and make it into a career. Painting is a beautiful thing and for it is a medium of self-expression. Through painting, I can express myself and FIT will give me the opportunity to create a world of my own. I get lost in the world of abstractness and creativity whenever I look at the blank canvas. I think FIT will act as a catalyst for enhancing my skills and helping me win a place in the fashion industry. It will help me to transform the view of designing in society. The combination of colours giving rise to different shades fascinated me. The design principles and the way it changes the perceptions of beauty is surprising for me. The feeling of ecstasy when I find the font after the elements are unified is priceless. I am captivated by the element disruption and flow of beauty that create designing. I want to show that the beauty in places and things can change one’s life that captivated me. When a person is aware of the designing, there is a change in their perceptions and give an experience that can charm one’s senses. This is the reason I want to pursue my majors in Communication Design and learn the changing viewpoints and comprehension of art that makes one crave. I think FIT will help me to learn the skills required for this industry and transform the concept of designing in the society. I will give my best, as art is a part of me. I know that I have the potential to pursue my career and succeed in FIT. I have the determination and passion to work and do my best to pursue my career in fashion. I will give my full dedication, creativity and enthusiasm to prove my potential and opportunity to achieve my goals and flourish in my chosen career.  Ã‚  

Life Problem Essay Example | Topics and Well Written Essays - 1500 words

Life Problem - Essay Example Underlying this conflict is the different opinion the siblings have on whether Edith's actions regarding were in accordance to Maurice's wishes. As Edward states, his father would have wanted all his children to benefit from the estate. Thus, Edith's choice of naming Nancy as a joint tenant is a major conflict among children because as the law of survivorship states, the interests of a deceased joint tenant cannot be passed on by will, but should be passed directly to the surviving joint tenant. In this case, all of Edith's jointly owned properties will be passed on to Nancy after her death unless formal actions are taken up to sever the joint tenancy or include the three children as tenants in common. Furthermore, structural conflicts are also present that make communication, and consequently understanding, difficult. Geographically, all three siblings have left Queensland and now reside in other parts of Australia and the world. Hence, physical communication barriers can cause anxiety and strain relationships, especially for the siblings who have not seen each other in more than 10 years. It also increases the window for misinformation. Edward and the others can also feel threatened by Nancy and Rajiv because of Edith's dependence on them, their residence in the estate, and their control over Darlington. It causes Edward to believe they are disadvantage against Nancy. Edith's health conditions also puts time constraints because as their mother and owner of the estate, she is the only person who can enforce changes in the distribution of Darlington through severing her joint tenancy with Nancy or including the three children as tenants in common without damaging relationships. Such circumstances indicate that relational conflicts are brewing because while Edward and the others feel threatened by Nancy, Nancy feels that her siblings are rallying against her or that they do not appreciate her sacrifices for the estate. These conflicts, although seemingly immaterial, plays an important role in the negotiation because it determines each party's attitude and possibly create a negative behaviour among the siblings, hampering communication even more. While there is a number of methods available, negotiations are the most efficient, viable, and appropriate method to resolve the conflict. As Edward explained, a legal proceeding is not only complicated, but their claims may also be weakened because it is be difficult to establish an enforceable trust based on their father's will. Their geographic location also makes legal proceedings difficult logistically and financially. Furthermore, with Edith's old age and health conditions, it will not benefit anyone to place stress on her. Thus, unless the children can come up with a negotiated outcome acceptable to all, and approach Edith with the outcome in hand, further disagreements among the children can only worsen Edith's condition. It is also important for Edward to understand that if taken to court Nancy's contributions to the farm, Edward and his party's absence and seeming lack of interest in the farm and their mother's welfare, and Nancy's residence in the