Analysis of USPS Business Model Essay Example | Topics and Well Written Essays - 2000 words

Investigation of USPS Business Model - Essay Example It is right now utilizing in excess of 574,000 specialists. It is lawfully allowed to render administration to all the Americans without thinking about their geological area. The organization is notable for its quality administrations alongside the uniform cost. The organization has an entrance to the letterboxes which are set apart as the ‘US Mail’ and furthermore to the individual letterboxes in the nation. Administrations Offered The United States Postal Services offer a wide scope of administrations. It has mass mail systems accessible which give limits to the clients. It gives individual sends to the clients. The organization additionally gives between departmental insights about the UALR sends. It offers the types of assistance of grounds conveyance of the sends and state messenger administrations. It gives media mail administrations to the clients also. There are some different offices gave to the clients like the business depend sends, postal cash request adminis trations and so forth. Current Position of the Company United States Postal Services is answerable for giving work to countless individuals in the United States. After the central government and Walmart, United States Postal Services is the third biggest organization in regard of giving business (Bovard, 1985). It works the biggest number of vehicles in the entire world and is known as the biggest vehicle armada. The Department of Defense mutually works with the United States Postal Services to offer types of assistance to the Army and Air Forces (the Army Postal Services) and the Navy (the Fleet Post Services). The two major contenders of USPS are UPS and FedEx. They rival the organization in giving postage conveyance administrations, making pressing conveyances in the local land. DHL express was the third biggest contender of USPS until it halted its activities in the United States in the year 2009. The National Postal Forum held in 2007 uncovered that the Postal Service has featu red and attempted countless activities to improve the administrations and addition a wonderful situation in the United States package industry. The low value contributions made by USPS is making it effectively reasonable by the clients. The organization creates yearly income of $73 billion though UPS and FedEx have yearly income of $48 billion and $32 billion. Consequently it is in a main situation in the market. Local and International Services The United States Postal Services give household just as universal administrations in the United States. Residential Services-Domestic administrations incorporate weekday’s conveyance of postal administrations to a specific customer’s address or Post Office Box or any conveyance in the Army and the Military in the United States. It gives express sends which ensure for the time being conveyances to most areas. It is one of the quickest postage administrations offered by the USPS. There are a few different offices gave to the cli ents like top of the line sends, mass sends, media sends and so on. Worldwide Services-The United States Postal Services gives different offices to the clients so as to meet their global transportation needs. The Global Express Guaranteed Service (GEGS) ensures conveyance inside three days in excess of 190 nations everywhere throughout the world by FedEx. The First Class Mail Service is the best reasonable global assistance for a large portion of the clients. In any case, the conveyance time in this administration relies on the goal of the conveyance. The Express Mail International gives a blend of brisk administrations and reasonable costs in right around 185 nations. The conveyance time exists in three to five business days. Difficulties looked by the Company The postponement in the conveyance of administrations was one of the issues looked by the clients. This issue was emerging as often as possible. The organization led an investigation in

IT and HR Department Case Study and Analysis

In view of my perception security at Cenartech is high hazard. I base this off of the security rehearses that are set up. What organizations neglect to acknowledge is you can ensure your system actually yet you additionally need to secure the system physical. There are firewalls set up to shield the system all things considered yet no approach to shield the system from within. â€Å"A security arrangement is a record that characterizes the extent of security required by the association and talks about the benefits that need insurance and the degree to which security arrangement ought to go to give the vital protection.†(Stewart and Chapple and Gibson, 2012, p221)Although the organization IT structure is strong, a large portion of it was made by out advisors and the IT division didn't have any authority that was IT savvy. The IT division was ran by the Director of Finance. Cenartech has just been set up for a couple of years before Brian the IT director went ahead board. There was no Standard Operating Procedures. â€Å"Procedures are the last component of the formalized security strategy structure.† (Stewart and Chapple and Gibson, 2012, p221)Within per year of being at the organization he composed a draft sketching out obligations and duties regarding each staff part. Since his IT office was little he gave each staff part some security obligations. His staff individuals didn't have any experience seeing security logs. Whenever he got the opportunity he would prepare them. He knew the significance of taking a gander at the logs routinely and keeping up Audit Trails. Review trails are a lot of records or occasions that record movement on a framework. (White, 2003)As Brian was seeing the logs he found that there were rehashed bombed sign in endeavors on a couple of various records, however insufficient to cause a lockout. Be that as it may, there were beyond any reasonable amount to bombed sign in endeavors to simply disregard. He likewise discovere d somebody was endeavoring to get to the records from other area inside the building division. As indicated by strategy he needed to report this to administration in Human Recourses. The initiative was not specialized and didn't comprehend the issue and how server the issue was. Given what the case has introduced the aggressor needed to access the network.After the introducing his case to HR authority he chose to deal with an IT anticipate at the highest priority on the rundown. He arrangement virtual private systems (VPN) for the deal staff to have remote access. A VPN is a correspondence burrow that gives highlight point transmission of both verification and information traffic over an untrusted organize. (Stewart and Chapple and Gibson, 2012, p221) He arrangement the VPN on the money related system. When the product was stacked on employee’s frameworks he began to screen the security logs. He discovered increasingly approaching association then what he installed.â€Å"W hen he followed up on a couple of the starting IP addresses in the security log, He found that some of the associations began from a neighborhood satellite Internet Service Provider (ISP)† (Whitman and Mattord, 2011, p. 27). The assailant was utilizing shared records from worker in the organization. At the point when somebody would leave they would pass the record down. Records were not being erased or cripple. Evacuating or impairing records ought to be a standard best practice for any framework. Records should be erased as soon somebody leaves. (Stewart and Chapple and Gibson, 2012, p231)Some of the things he could have done another way was to audit his IT security strategies from the very first moment. The occasions that occurred were occasions that were not entirely obvious. HR ought to have had a strategy on the most proficient method to deal with fired workers. There ought to be a lock out arrangement since the building representative had the option to give numerous en deavors a shot the record before it was bolted out. The great lockout strategy is three endeavors then the client needs to experience their IT office to get the record opened. A secret key strategy ought to be executed as well.At least 8 characters with a mix of lower case, capitalized, one number, and one extraordinary character, this is DOD standard. On the off chance that these were set up the assailant would not have had the option to assault the system. The IT office should be prepared to Monitor Security logs once per week. He would confront a major test attempting to prescribe these progressions to the Leadership. He attempt to disclose this to the HR Director. â€Å"His clarification required considerable exertion as Jim had insignificant IT experience. † (Whitman and Mattord, 2011, p. 26). It took another episode for the HR Director to take him genuine. IT and HR Department Case Study and Analysis In light of my perception security at Cenartech is high hazard. I base this off of the security rehearses that are set up. What organizations neglect to acknowledge is you can ensure your system in fact however you likewise need to secure the system physical. There are firewalls set up to shield the system all things considered however no approach to shield the system from within. â€Å"A security strategy is an archive that characterizes the extent of security required by the association and examines the benefits that need insurance and the degree to which security arrangement ought to go to give the important protection.†(Stewart and Chapple and Gibson, 2012, p221)Although the organization IT structure is strong, its vast majority was made by out experts and the IT division didn't have any administration that was IT brilliant. The IT office was ran by the Director of Finance. Cenartech has just been set up for a couple of years before Brian the IT chief went ahead board. The re was no Standard Operating Procedures. â€Å"Procedures are the last component of the formalized security approach structure.† (Stewart and Chapple and Gibson, 2012, p221) Within a time of being at the organization he composed a draft laying out obligations and duties regarding each staff part. Since his IT office was little he gave each staff part some security obligations. His staff individuals didn't have any experience seeing security logs. Whenever he got the opportunity he would prepare them. He knew the significance of taking a gander at the logs routinely and keeping up Audit Trails. Review trails are a lot of records or occasions that record action on a framework. (White, 2003)As Brian was seeing the logs he found that there were rehashed bombed sign in endeavors on a couple of various records, however insufficient to cause a lockout. Yet, there were beyond any reasonable amount to bombed sign in endeavors to simply disregard. He additionally discovered somebody wa s endeavoring to get to the records from other area inside the designing division. As indicated by approach he needed to report this to authority in Human Recourses. The authority was not specialized and didn't comprehend the issue and how server the issue was. Given what the case has introduced the assailant needed to access thenetwork. After the introducing his case to HR administration he chose to chip away at an IT anticipate at the highest priority on the rundown. He arrangement virtual private systems (VPN) for the deal staff to have remote access. A VPN is a correspondence burrow that gives highlight point transmission of both validation and information traffic over an untrusted arrange. (Stewart and Chapple and Gibson, 2012, p221) He arrangement the VPN on the monetary system. When the product was stacked on employee’s frameworks he began to screen the security logs. He discovered progressively approaching association then what he installed.â€Å"When he followed up on a couple of the beginning IP addresses in the security log, He found that some of the associations began from a nearby digital Internet Service Provider (ISP)† (Whitman and Mattord, 2011, p. 27). The aggressor was utilizing shared records from representative in the organization. At the point when somebody would leave they would pass the record down. Records were not being erased or incapacitate. Expelling or debilitating records ought to be a standard best practice for any framework. Records should be erased as soon somebody leaves.(Stewart and Chapple and Gibson, 2012, p231) Some of the things he could have done another way was to audit his IT security strategies from the very first moment. The occasions that occurred were occasions that were not entirely obvious. HR ought to have had an arrangement on the most proficient method to deal with fired representatives. There ought to be a lock out arrangement since the building worker had the option to give numerous endeavors a shot the record before it was bolted out. The great lockout approach is three endeavors then the client needs to experience their IT office to get the record opened. A secret phrase approach ought to be executed as well.At least 8 characters with a blend of lower case, capitalized, one number, and one unique character, this is DOD standard. On the off chance that these were set up the assailant would not have had the option to assault the system. The IT office should be prepared to Monitor Security logs once every week. He would confront a major test attempting to prescribe these progressions to the Leadership. He attempt to disclose this to the HR Director. â€Å"His clarification required generous exertion as Jim had negligible IT experience. † (Whitman and Mattord, 2011, p. 26). It took another occurrence for the HR Director to take him genuine.

English - Tennesse Williams Essay Example | Topics and Well Written Essays - 750 words

English - Tennesse Williams - Essay Example The profound needs of a person, just as his ethical standards and internal accepts are applicable to this skilled writer. The most noteworthy characters of his plays are Maggie from Cat on a Hot Tin Roofâ and the character of Stanley Kowalski from the play A Streetcar Named Desire (Gross, 2002). Williams made an accentuation on the need to investigate the inward expression of individuals. All setbacks originate from human misconception. This was his primary case and in such a manner, there is a potential method to forestall visual impairment in the hearts of individuals in the event that they live in common comprehension. He got mainstream in 1927, yet his profession was frequently condemned by his dad, who worked at the worldwide shoe organization (Rogal, 1987). The models of his fundamental characters were taken from his background and his work at the International Company also (September. In front of an audience, 1994). Williams is a profound and a significant scholar and a cli nician of human spirits. The best play was distributed in 1944 and it The Glass Menagerie. This play is alluded to as the dramatist's very own understanding (Wolter, 1995). Williams had a solid willed mother, who even permitted making a lobotomy to his sister Rose. Along these lines, Williams meets his existence with his plays and mergers his plays with his life. That is his capacity. The Pulitzer Prize was recognized to him in 1948 for A Streetcar Named Desire (Dowling, 1981). ... During the time of his downturn he battled with his medication and liquor enslavement. Like each gifted man, he was scanning for motivation and his dream. In this manner, the plays of the dramatist are brimming with inside and out contemplations about the inward universe of a person. They are centered around negative sides of a human instinct. The creator believes that in negative feelings an individual can see an external world and his inward world better. His primary characters experience corruption, moral difficulties, issues of an individual’s decision and numerous other sensational issues. His plays might be portrayed as bad dreams, in light of the fact that the creator isn't bashful to delineate the negative and destructing side of a human instinct. His own tensions are anticipated on his plays. In this manner, Williams believes feelings to be an integrative piece of a human life. Feelings are delicate for him and there is a need to focus on them so as to see the quintes sence of feelings and infiltrate into the profundities of an individual’s internal world. In addition, Williams underlined the security of feelings and there is a pitiless outside world, where all individuals live. He regularly related primary characters of his plays with creatures so as to show their feelings in an increasingly intense way. Creatures can't break down their feelings, yet feel profound, just as individuals do. Along these lines, isn't it astonishing that every single individual are self-concentrated, however their narrow minded feelings contribute a lot to their self-investigation. Another intriguing note to be made about Williams is to decide the job feelings played in his life. His family made a good air for his growing up and he had the option to concentrate on his inward world and not on outside unrest. That is the reason Williams feels a nature of people, delineated in his plays

Religious Essays - Religion And Politics, Freedom Of Religion

Strict Equity In US America has been named the blend of the world. It houses numerous various societies, nationalities, thoughts and religions. There are Christians, Jews, Catholics, Buddhists, Mormons, Hindus, Spiritualists, Jehovah's Witnesses, Islamics, in addition to some more. America is exceptional in that all these religions are spoken to in a country that is just 200 years of age. What's more, America has maintained, since the beginning, that the opportunity and correspondence of religion is critical all together for this country to work as a free country. The establishments of America were set because of England's mistreatment; more in particular, England's strict mistreatment. The homesteaders needed to make a country that permitted individuals to be free. They wanted to talk what they needed to talk, do what they needed to do, and practice what they needed to practice... without the administration keeping a close eye on them. Consequently came strict opportunity. The First Amendment to the Constitution expresses that Congress will make no law regarding a foundation of religion, or denying the free exercise thereof, implying that an American resident would have the option to rehearse their religion with no intercession or mistreatment from the legislature, be it Islam, Judism, Mormonism or Catholicism. However, with strict opportunity, comes significant inquiries concerning its reality. Is strict equity similarly as significant as the various opportunities... for example, the the right to speak freely of discourse, the opportunity of press, the opportunity to collect, and others as well? The appropriate response here is yes. On the off chance that this country really represents opportunity, the American government can't state that its residents reserve the option to talk unreservedly, compose unreservedly, or amass uninhibitedly, however then keep up a set up national religion. That would be opposing, and would not make America any happier than England, which it had isolated from only years in advance. Absolutely, all the opportunities are equivalent. Then again, dissimilar to different opportunities referenced, strict opportunity tends to an alternate sort of need. It tends to the idea of individual satisfaction, or maybe, self-acknowledgment. Religion endeavors to give answers to essential inquiries: From where did the world come? What is the significance of human life? For what reason do individuals kick the bucket and what happens thereafter? For what reason is there detestable? In what capacity should individuals carry on? As a word religion is hard to characterize, yet as a human experience it is by all accounts widespread. The twentieth century German-brought into the world American scholar, Paul Tillich, gave a straightforward and fundamental meaning of the word: Religion is extreme concern. This implies religion incorporates that to which individuals are generally committed or that from which they hope to get the most fulfillment throughout everyday life. Thus, religion gives satisfactory responses to the essential in advance of referenced inquiries. Religion is, without a doubt, a significant part of life. The subsequent inquiry with respect to opportunity of religion talks about which part of religion ought to be viewed as equivalent: the structure or considerable substance of religion, or the individual heart of that religion. On account of the decent variety and effect that religion has in the lives of Americans, the singular still, small voice ought to be treated as equivalent, not the structure or considerable substance of the different religions. No two religions are indistinguishable, just as no two individuals are similar. The legislature can't make all religions equivalent in respects to their individual structure as well as practices in light of the fact that the person rehearses are what make every religion special; engaging the person inner voice. In the event that all religions must be equivalent practically speaking, we would have Buddhists saying Hail Mary's, or Christians bowing to Allah. Maybe Catholics would wear orange robes and have shaved heads, and Hare Krishna's could sing music out of the Protestant Psalter Hymnal. This would invalidate the general purpose of permitting opportunity of religion in any case. Religion must have the option to vary in structure and meaningful substance. Individuals must have the option to rehearse their own religion in the manner they need to... also, this can't occur if all religions in America are made equivalent in structure and practice. The individual still, small voice in a specific religion, in any case, must be regarded equivalent to some other religion. A Christian inner voice must be dealt with equivalent to that of a Buddhist inner voice. A Catholic inner voice must be dealt with equivalent to that of a Mormon inner voice, etc. One can't segregate against a religion if all religions are for sure observed as equivalent concerning the singular heart. It would resemble victimizing somebody in light of the fact that they don't care for espresso with their morning meal. In the event that one concludes that they would Or maybe have squeezed orange with their bacon and eggs, that is up to them. It is their decision. What's more,

List of Essay Topics For College

List of Essay Topics For CollegeThe best list of essay topics for college is the one that your college will give you. If you want to have one, you can do a search in Google to see what kind of lists you can find. They can be quite helpful in planning an essay.College is not all about knowing how to write a great essay. It is also about thinking about the kind of person that will be attending your college and what you want them to think about you. This is why it is important to know the list of essay topics for college so that you can focus on the type of person you want to attract.Knowing about a good essay topic is very important especially when it comes to preparing for the SAT or ACT. This kind of essay subject is always very important to be prepared with. You have to know what your class requirements are for the subject.Do you know that almost all essays that are written to focus on current events? That is why knowing a list of essay topics for college is so important. You can in clude current events in your essay topic but you also have to make sure that they are engaging and interesting.A list of essay topics for college will give you ideas for essay topics you can use during your next essay writing session. When you first start writing a college essay, you should plan it with a list of essay topics for college so that you will have some ideas ready for the topic. You can also include current events in the essay topic, because this kind of essay topic is always very popular.You also have to write about recent events as this is how you will create suspense. After all, suspense is one of the basic rules of writing. The suspense in the topic should also relate to current events.Writing about current events is also a good way to get a better grade. Since you already know what the topic is, you can also add interesting words that will spice up the content. This is also the same for any essay topic for college.Writing about current events is a good idea but it i s also important to be creative. You have to remember that you can't just write something that is boring. Keep in mind that many writers get distracted while writing and they forget to deliver the good content.

Which SAT Scores Should I Send to Schools

You may retake the SAT, take the separately scored New SAT Essay exam, or take an  SAT subject test. So which SAT scores should you send to schools? Send your highest SAT scores to schools Suppose you retake the SAT and get a lower score than your previous try. It happensand its never fun. But if this has happened to you, I still have some good news. You canand  shouldsend your higher scores to schools. Even if your higher score is not the most recent score, it is the one most schools will want to see. It would be very unusual for a university to ask for the lower of two scores, or to request both the original scores and the retake scores. So send the highest score only, unless you are specifically asked to send in another score. You should send SAT subject test scores If you are trying to get into a very competitive major, you should submit  scores for a relevant  SAT subject test. Its common for schools to recommend that students submit SAT subject area scores for certain degree paths. For example, a school might have a strong math program with a lot of applicants. In that case, the school may encourage students to take and submit an SAT Math subject test if they are hoping to get into the math major on the campus. In rarer cases, a university  may actually  require an SAT subject test score for students who apply  to certain programs. But what if  youve taken an SAT subject test,  but  your school does not recommend or require SAT subject scores? In that case, you should still send  the scores, assuming you did well. Good scores on an SAT subject area test can always make you more competitive when you apply to school. Should you send in your SAT Essay scores? On the New SAT, the essay is optionalyou register for it separately from the main exam. Following the College Boards lead, universities seldom require SAT Essay scores from their applicants. However, there are a handful of schools that may require it, usually top schools (Yale, for example). If you are applying to a school that asks for SAT Essay scores, you will, of course, want to take the SAT Essay exam and send your scores in. But you should also send in any good  SAT Essay score to your schools whether they require the exam or not. Writing is a very important part of college coursework, so submitting a high  SAT Essay score  will always work in your favor.

Analysis Of Holden Caulfield s The Catcher Rye

Alexandro Garcia Mrs. Kehrmeyer AP Language, Period 1 9 March 2017 The Brain is Wider than the Sky The world is not always a fair, but some are able to emerge out of the ashes with nothing more than a scratch, while others perish into the rubble. The same can be said for Holden Caulfield, the protagonist of J.D. Salinger’s novel The Catcher in the Rye, a teenager that suffers and wallow in his misery behind the scene’s, yet lives a life of luxury and debauchery for all to witness. Psychoanalytical theory operates as a catalyst in analyzing and understanding Holden Caulfield in the narrative of The Catcher in the Rye. Holden is introduced as a defeatist, juvenile youngster that has just failed out of another highly prestigious, private†¦show more content†¦Salinger would meet his first wife Sylvia, a German and possible former Nazi, yet they would divorce eight months later. He would later go into isolation after he gained fame for his hit novel The Catcher in the Rye. In the story Catcher in Rye by J.D. Salinger, the main char acter of the story Holden Caulfield takes a lot of the characteristics of the person who created him. The first instance of this connection between the two is that they both despise the movies. Salinger despises the movie’s because he made â€Å"My Foolish Heart, a film adaptation of Salinger’s story â€Å"Uncle Wiggily in Connecticut,† premieres. The movie is ripped apart by critics. Salinger finds the experience so miserable that he never formally authorizes another film version of his work† ( PBS). This hatred of the movie is then shown in Holden when he says â€Å"If there’s one thing I hate, it’s the movies. Don’t even mention them to me† (14). Another connection of these two individuals is that they both were kicked out of prestigious schools. Salinger was kicked out of McBurney for having subpar grades to able to stay, while Holden is getting kicked out Pencey for having subpar grades has well. Salinger makes references to old school when Holden says â€Å" We’d gone in to New York that morning for this fencing meet with McBurney School† (3). Salinger and Holden also share a lot personality traits as well as being deadbeats. One of these similaritiesShow MoreRelatedAn Analysis Of Holden Caulfield s The Catcher s The Rye 900 Words   |  4 Pagesstory The Catcher in the Rye the 16-year-old protagonist, Holden Caulfield, experiences a conflict that makes him want to relive his childhood memories. Holden has so much hatred toward the adult world and he thinks adults are very phony and lame. J.D Salinger delves into the mentality of a boy that hates adult intimacy and sexuality. Holden ends up in a mental institution to recover from his problems and to overcome his fear of adulthood. This novel is set in the early 1950s and Holden is from NewRead MoreCharacter Analysis Of Holden Caulfield s The Catcher Of The Rye 1733 Words   |  7 Pagesthe novel The Catcher in the Rye by J.D. Sali nger, Holden Caulfield is faced with multiple â€Å"phonies† that divert him from those he really holds affection for. Throughout the novel Holden shows disgust for certain characters but his ability to build relationships of intimacy are most eminent. Through Allie Caulfield, Holden is able to make a more personal connection. Seeing as how he is now dead, Allie is a savior in the eyes’ of Holden when he is in the time of need. Phoebe Caulfield, Holden’s tenRead MoreAn Analysis Of Holden Caulfield s The Catcher s The Rye 1941 Words   |  8 Pagesenough; one cannot appreciate the blissful innocence of childhood until it has passed. The novel, The Catcher in the Rye, explores the complex and often incomprehensible transition to adulthood through the experiences of the protagonist, Holden Caulfield. J.D. Salinger uses Holden’s character to express the challenges teenagers must overcome in order to adapt and succeed in an adult society. Holden outlines the challenges he is experiencing through this time of development by striving to preserve childhoodRead MoreMental Analysis on Holden Caulfield in J.D. Salinger ´s The Catcher in the Rye824 Words   |  4 PagesCorporation) (The Numbers Count: Mental Disorders in America). J.D. Salinger’s novel, The Catcher in the Rye, provides the narrative of a young adult, Holden Caulfield, who I believe shows many symptoms of several different mental disorders. In this essay, I will be providing examples straight from The Catcher in the Rye that support my theory of Holden Caulfield’s lack of mental stability. Holden Caulfield demonstrates extreme and inconsistent behaviors throughout his narrative, describing manyRead MoreAnalysis Of Characters And Themes Of The Catcher Rye 1537 Words   |  7 Pages Analysis of Characters and Themes in The Catcher in the Rye J.D. Salinger was born in 1919 to a wealthy Manhattan family. He grew up in the same social conditions as Holden Caulfield does in The Catcher in the Rye. The last thing Salinger cared about was being a successful student because he was very lazy, without care for his responsibilities and tasks. Salinger flunked out of many prep schools, and his parents sent him to a military academy named Valley Forge in Pennsylvania, where he graduatedRead More Catcher in the Rye Essay: Holden - The Misfit Hero2101 Words   |  9 Pagesof The Catcher In The Rye      Ã‚     The Catcher In The Rye by J.D. Salinger was published in 1951. A recurring theme in J.D. Salingers stories concerns people who dont fit in with the traditional American Culture. Salingers misfit heroes, unlike the rest of society, are caught in the struggle between a superficial world and a conscious morality (1 Wildermuth). In his attempt to create a new and realistic portrayal of the times, Salinger first, effectively creates Holden Caulfield, the mainRead MoreTheme Of The Catcher In The Rye976 Words   |  4 PagesThroughout the novel The Catcher in the Rye by J.D. Salinger there are several different themes portrayed that widely relate to current issues of teenagers and adults alike. While reading the novel several different themes were revealed creating a deep and meaningful story line. Three themes viewed within the novel are; the phoniness of the adult world, alienation as a form of self-protection, and the painfulness of growing up. Each of these themes have lar ge significance in character and plot developmentRead MoreCatcher in the Rye4413 Words   |  18 PagesThe Catcher in the Rye â€Å"Is The Catcher in the Rye, as a work of literature still relevant for today’s youth?† Name: Sara Sigurdson Course: English A1 Supervisor: Mr. Peter Steadman Word count: 3851 Candidate number: 00136022 Table of Contents Content Page Number Abstract 3 Introduction 4 The Actual Catcher in the Rye 4 The Sexual Matter 5 The Caulfield Family 6 Narrator and Protagonist 8 Role Model 9 Mr. Antolini 10 Targeted Audience 10 Guidance 12 Read MoreShould Banned Be Banned? A High School Curriculum?1603 Words   |  7 Pagesgruesome, yet extremely realistic portrayal of life. Among the novels that have been banned is The Catcher in The Rye, written by J.D Salinger, which describes the idiosyncratic ideals of sixteen year old mischief-maker, Holden Caulfield, and recounts the days following his suspension from Pencey University. In spite of the repetitive presence of sexual content and references it contains, The Catcher In The Rye should be included in all high school curriculums as it allows students to provoke deeper thoughtRead MoreCatcher in the Rye Word Choice795 Words   |  4 Pagesï » ¿Word Choice in The Catcher in the Rye By Tom Condon Word choice is a crucial element in a well-crafted story. The Catcher in the Rye by J.D. Salinger is about a 16-year-old in New York in the 1950s named Holden Caulfield. The book is about his exploration in the world as he suffers from severe mental trauma from his point of view. J.D. Salinger uses word choice for realism, theme, and depth of character to make the story relate to the reader and add dimension. The Catcher in Rye contains many distinct

The Ethical Dilemma Of The Death Penalty - 1814 Words

Chapman Evans Dr. Jarrod Brown Law, Morality, and Philosophy 9.22.17 The Ethical Dilemma of the Death Penalty as Viewed From a Utilitarianist and a Deontologist Viewpoint There are many ethical issues that beset our society in this day and age. This paper will discuss the ethological dilemma of the death penalty from the perspective of the philosophical outlooks of Utilitarianism and Deontology, present arguments in light of both, and proceed to show why Deontology offers the best insights into the justification for the death penalty. The death penalty, also known as â€Å"capital punishment†, is, â€Å"the sentence of execution for murder and some other capital crimes (serious crimes, especially murder, which are punishable by death).† (Death†¦show more content†¦Using this definition, Mill’s version of Utilitarianism would only agree with the death penalty IF the death of the criminal maximized the happiness of that specific society. A Utilitarian is one who believes that an action is morally right or wrong based on the effect it has on a society’s happiness. If the end result causes a decrease in society’s overall happiness, then the action would be deemed morally wrong. The opposite is true as well; individual actions that proceed to increase the overall happiness of a society are pronounced as morally just and are highly desired. This viewpoint characterizes an individual as notable, if and only if their personal sacrifice for others results in the greatest possible happiness for the society at large. In Utilitarianism, happiness is the only thing desired and is what all humans aim for as an end result. When applying Utilitarianism to the ethical dilemma that is the death penalty, the answer is never that people should be killed for punishment of a crime, but rather that it should be done to stop further crime. Hypotheticals are made to argue against the death penalty, saying that the person killed could go on to do something great for society. By that same logic, the person could go on to kill hundreds of people. The death penalty is the rite of passage to the afterlife from the repercussions ofShow MoreRelatedDeath Penalty : An Ethical Dilemma1184 Words   |  5 Pages Death Penalty: An Ethical Dilemma Philosophy branch which streamlines, protects and guides the concepts of being correct or incorrect is referred as Ethics. People learn this concept from their parents who got it from their parents and it is a chain. However philosophers claim that it is people’s belief which decide ethics along with human intuition. An individual at singular level conscientiously decides what is right and wrong and define a limit of pushing ethical behaviour and moralityRead MoreThe Dilemma Of The Death Penalty1703 Words   |  7 PagesThere are many ethical issues that beset our society in this day and age. 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The Research Topic Example For Free - Free Essay Example

Sample details Pages: 20 Words: 5908 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The introduction of this dissertation will define the purpose of the study, the research problem, and defines the research objectives, purpose, and limitations. 1.1 Background on the research topic The Islamic financial system works based on group of principles, standards and ethics. The standards and ethics are essential to ensure protection, safety and steadiness such integrity, reliability, solidarity, clearness, clear fact and collaboration. All financial transactions that include interest (Riba), untruthful, gambling, unethical, monopoly, risk or uncertainty, injustice are prohibited in the Islamic financial system which based on Islamic Shari ¿Ãƒâ€šÃ‚ ½ah. The Islamic banks play the same roles as a trustee and liaison of moneys come from different parties with some difference in the way how the Islamic banks is handling their transactions. The Islamic bank play a middle man role between debtor and creditor with a slight difference comparing t o the conventional banks as the profit will be paid based on sharing of the profit and loss. This difference established more of ownership relationship between the bank and the customers. However, in practice, Islamic banks hardly look different from its conventional counterpart in terms of organizational set-up (Dar and Presley, 2000). The most important difference between the Islamic banking and the conventional banking is the interest free concept. Although it seem that the Islamic banking is charging interest in their transaction but the fact it is not an interest because of the way they do the transaction which mainly depend on buying and selling of assets which normally generate profit. The first Islamic bank started in Egypt more before more than thirty years and then Pakistan and Islamic Republics of Iran started the transformation from the conventional bank to Islamic banks. The total assets of the Islamic bank increased impressively from $5 billion in 1985 to $100 bi llion which reflect the huge and rapid movement toward the Islamic country and even the non-Islamic countries. Today, Islamic banking is spreading and gaining acceptance in non-Muslim countries as well as Muslim ones. Equally important has been the growth of scholarly interest in the subject (Iqbal and Mirakhor, 2007). In the past, banks depend mainly on the money comes from depositors and they use these deposits to lend borrowers and there are not other source which they can obtain money from but currently the bank have establish many sources of money such us wholesales money market where they can borrow money from other banks and then use them to lend it to it borrowers with higher profit rate. This secondary market helps a bank to effectively insure itself against the default risk which the borrower might not be able to pay back the loan. These allowed a bank to effectively insure itself against the risk that a borrower might not pay back a loan. This gives a false impre ssion for bank in term of buying or selling loans as they think it has low risk. The financial crisis started when banks and financial institutions revealed that hundred of thousand of loans given to customer in the US to bought houses are not able to pay back their loans. As a result, huge number of the bank worthless assets was written down by the banks. According to the Institute of International Finance the assets value is $476 billion. In the name of the securitization, banks started selling the bad debit to third party which will get the loan repayments and pay a charge for this privilege. Thus loan became tradable just like any assets. The capability to securitize loans gives the banks the way to spread the risks which allow them to sale more of the mortgages. The securitization rate of bad loans increased 32% since 1994 to over 77% of the total bad loan in the US and this lead to an increase in the number of financial institution involved in the sub-prime mortgage mark et. As a result many financial institutions become owner of mortgage backed securities which was created of the repacking of the sub-prime loans. This package is created by banks by putting different set of loans as one investment product and sell to third party to get fees in return. The new buyer of this loan obligation will receive regular loan repayments. In most cases the package contains different level of risk attached to it because it is normally created by different type of assets and or bond. In June 2008, the mortgage backed securities was worth $6 trillion, more than US Treasury bonds. 1.2 Purpose The purpose of this dissertation is to examine if the Islamic Investment Banks in the kingdom of Bahrain are affected by the Global Financial Crisis. 1.3 Research Questions The research is based on the research question,,  ¿Ãƒâ€šÃ‚ ½Dose Islamic Investment Banks in the kingdom of Bahrain affected by the 2008 Global Financial Crisis? ¿Ãƒâ€šÃ‚ ½ 1. 4 Limitation The limitation of this study and its findings should be noted with a view to extending the present study. 1.4.1 Limitation of Researcher Although it has covers almost most of the Investment Islamic Banks in the Kingdom of Bahrain, The sample size is not very large. There was a lack of explicit collaboration from some of the interviewers. 1.4.2 Limitation of Research There is a Lack of generalization of research conclusions to Commercial Islamic banks in the Kingdom of Bahrain, since this conclusion is only related to Islamic Investment banks in the Kingdom of Bahrain. Therefore within Islamic Commercial banks of the Kingdom of Bahrain a similar research is required. Due to the length of the questions and the limited time given by the interviewed, there was a slight difficulty in getting them all answered by the selected decision makers. Chapter 2: Literature Review The most important task of Islam is to direct human development on the right lines and in the right route.  ¿Ãƒâ€šÃ‚ ½It deals with all aspects of economic development but always in the framework of total human development and never in a form divorced from this perspective (Al-Harran, 1993) ¿Ãƒâ€šÃ‚ ½. Islam is extremely paying attention on the problem of economic growth, but deal with this issue as a very important component of overall human development. The Shari ¿Ãƒâ€šÃ‚ ½ah set of laws covers several aspects in the Islamic finance starting from the sharing of the recourses to the right of the property to the manufacturing and consumption and end up with income allocation.  ¿Ãƒâ€šÃ‚ ½Because of Riba, Islamic banks have had to develop financial products which are not in conflict with the Shari ¿Ãƒâ€šÃ‚ ½ah. The task has been achieved by creating a number of special financial products (Ali and Ali, 1994) ¿Ãƒâ€šÃ‚ ½. We can get knowledge and information on Islamic economic and banking from different sources such as books written by leading academics and practitioners, published research in the form of reports and journal articles, PhD thesis and some other specialized internet web site. 2.1 History of Islamic Banking:  ¿Ãƒâ€šÃ‚ ½The Golden Age of the Islamic world took place in the 7th-10th centuries in the Middle East countries and between the 11th-14th centuries in North Africa ¿Ãƒâ€šÃ‚ ½ (Warde, 2000). Although banks were not available at that time, financial mechanism and tools were playing roles in the commercial trading; so they were bankers without banks. As per Warde, The available financial instruments in the Islamic world were at least until the 13th century far more advanced than in the between the Fifteenth and the twentieth century ¿Ãƒâ€šÃ‚ ½s it was the period of stagnation and turn down and this possibly because of the effected by the dual break not only with its own past but also with the west.  ¿Ãƒâ€šÃ‚ ½The Renaissance, the Reformation, even the scientific revolution and the Enlightenment passed unnoticed in the Muslim world (Warde, 2000, p 26) ¿Ãƒâ€šÃ‚ ½. The development of the development of the Islamic financial model delayed because of the colonization during the sixteenth and seventeenth centuries. Many conventional banks started to operate in Islamic countries at the end of the seventeenth centuries such as banks Turkey, Egypt and Iran. The colonization during the 16th and 17th centuries delayed the development of the Islamic financial models. Instead European banks were established at the end of the 17th century in Turkey, Egypt and Iran (Samuelsson, 2000; Zineldin, 1990). If we look into the history of the Islamic Banking we will notice that there were different stages for the development of the Islamic banking since inception. First, it was just an idea and no one tried to implement it. Second, private sector in some countries begins to implement the idea of the Islamic banking and in other the ide a converted to reality because of the role and regulation. Table 1 show the involvement of the Government and private sector in the seventies toward the development of the Islamic banking. Table : Major Islamic Banking activities in the seventies Year Country Event 1970 Karachi Conference of the Finance Ministers of the Islamic Countries 1975 Saudi Arabia Establishment of the Islamic Development Bank 1975 Dubai Establishment of Dubai Islamic Bank 1976 Saudi Arabia First International Conference on Islamic Economics 1977 United Kingdom International Economic Conference on Islamic Economic in London 1977 Egypt Establishment of Faisal Islamic Bank 1977 Kuwait Establishment of Kuwait Finance House 1979 Bahrain Establishment of Bahrain Islamic Bank As we can see in the above table, the Islamic banks has been established by either the private sector or by roles and regulation forces all conventional banks to changes their operation to an Islamic complai nt banks same as what happened in the Iran and Pakistan. In the other hand private sector in Sudan, Kuwait, Dubai, Bahrain and Egypt play the biggest role in establishing the Islamic bank with some support from the government. The governments in Pakistan and Iran start the process in 1981 by transferring all commercial banks in the country into an Islamic bank operation according to the Islamic principles. In 1981, the Iranian government enforces all banks to move all their operation from the conventional banking to the Shari ¿Ãƒâ€šÃ‚ ½ah complaint operation and no bank can involved in any interest based transaction. In August 1983 the Usury-free Banking Law was introduced and a fourteen-month change over period began in January 1984. The whole system was converted to an interest-free one in March 1985 (Iqbal and Mirakhor, 1987). Currently, the Islamic banking is available in more than 50 countries worldwide. In some countries they permit only Islamic Banks to work by t heir role and regulations such as Sudan, Iran and Pakistan and no conventional banks are permitted to work in those countries. In other countries such as Islamic banks are permitted to work with the availability of the conventional banks so both types will be available in those countries such as Kuwait, UAE, Bahrain, Qatar, Egypt, Jordon, Bangladesh and Malaysia. In 2004, the first Islamic bank in non Islamic country was established in the United Kingdom (Islamic Bank of Britain) and then Devon Bank in Chicago started to offer Islamic banking services in the United States. 2.2 Principles of Islamic Banking Islamic Bank are guided by the Shari ¿Ãƒâ€šÃ‚ ½ah, the precepts of which are founded upon the Qur ¿Ãƒâ€šÃ‚ ½an, the Sunnah (the practices and sayings of Prophet Muhammad), and fiqh (jurisprudence, the opinion of Muslim legal scholars). There are a lot of books, journals and articles which have made major contributions to the Islamic banking theoretical debat e such as  ¿Ãƒâ€šÃ‚ ½Islam and the Theory of Interest ¿Ãƒâ€šÃ‚ ½ (Qureshi l946), he argue that banking is a pure social service that to be managed and offered only by the governments. Qureshi and all other scholars agreed that banks should not pay or receive any kind of interest neither from normal account nor from loan transaction. They agreed on alternatives which can be used by the Islamic bank such as the partnership agreement, buy and sell agreement. Another example of the books which contribute in the development of the Islamic banking module is the Economics of Islam (Ahmad l952); Ahmed in his book believed that the founding of Islamic banks should be based on the concept of Joint Stock Company so people can customer can deposit their money based on partnership between them and the bank and the profit or loss occur will be shared between both parties. In addition to that, they can deposit their money in a normal current account so no interested should be paid . Both Ahmed and Qurashi agreed on the possibilities of entering into a financing agreement based on partnership between businessman and banks in case the businessman need capital for his business. However, this kind of agreement remains undefined, no clear idea about who will bear the loss. Based on Shariah, the Islamic Banks should follow the below four major principles in term of banking and financing transactions and financing:  ¿Ãƒâ€šÃ‚ ½ No Riba No interest must be charged in any transaction.  ¿Ãƒâ€šÃ‚ ½ No Haram Bank should not deal in any product and services which is prohibited and considered as illegal in the Islamic Shariah.  ¿Ãƒâ€šÃ‚ ½ No Gharar  ¿Ãƒâ€šÃ‚ ½ Banks should avoid any truncation that may involve speculation.  ¿Ãƒâ€šÃ‚ ½ Zakat Banks should pay compulsory Zakat based on the Islamic role and regulations. Let see how the above four principles govern the Islamic bank and make them different from the conven tional banks: Prohibition of Riba The prohibition of Riba mainly comes from Quran, Quran talk about Riba in twelve different places. Below are examples of where Quran talk and describe the roles of riba in Islam: Al-Baqarah (2:275)  ¿Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ¿Ãƒâ€šÃ‚ ½ And Allah has justifies the trades and forbids the Riba ¿Ãƒâ€šÃ‚ ½. ¿Ãƒâ€šÃ‚ ½ Al-Baqarah (2:276) ¿Ãƒâ€šÃ‚ ½ Allah destroys usury and cultivating charity. And Allah does not love everyone who remains in unbelief, and always doing sin.  ¿Ãƒâ€šÃ‚ ½ Al-Baqarah (2:278)  ¿Ãƒâ€šÃ‚ ½  ¿Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ¿Ãƒâ€šÃ‚ ½ and leave the rest of Riba (who have not collected) ¿Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ¿Ãƒâ€šÃ‚ ½ Al- ¿Ãƒâ€šÃ‚ ½Imran (3:130)  ¿Ãƒâ€šÃ‚ ½  ¿Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ¿Ãƒâ€šÃ‚ ½ do not eat Riba with the multiply ¿Ãƒâ€šÃ‚ ½  ¿Ãƒâ€šÃ‚ ½ An-Nisaa (4:161)  ¿Ãƒâ€šÃ‚ ½  ¿Ãƒâ€šÃ‚ ½and because they eat riba, but in fact they have been banned from it, and because they eat the wealth of people with a wrong path ¿Ãƒâ€šÃ‚ ½. ¿Ãƒâ€šÃ‚ ½ Ar-Ruum (30:39)  ¿Ãƒâ€šÃ‚ ½  ¿Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ¿Ãƒâ€šÃ‚ ½ and riba (additional) that you gave to her property only grew for human ¿Ãƒâ€šÃ‚ ½s wealth, then the riba does not give additional value for Allah. Qur ¿Ãƒâ€šÃ‚ ½an 2:185 explicitly prohibits riba ¿Ãƒâ€šÃ‚ ½ and permits trade, but does not state clearly whether it is to be understood as interest or as usury. Source: Agustianto. Riba Empiris. Indonesia. 2006 Table 2: Compression between Interest and Profit Margin from Trade Interest (Riba) Profit Margin from Trade Platform: Positive Law Platform: Shari ¿Ãƒâ€šÃ‚ ½ah Law Source: Capitalism Ideology Source: Al-Quran, Sunnah Ijtihad Ulama Money as a commodity. Bank lend the money Goods as an object. Bank use goods as a commodity Relationships: Debtor-Creditor Relationship: Partnership Interest may be changed unilaterally The agreed price cannot be changed Not associated with the real sector (Monetary Real Sector is separately) Monetary and Real Sector related strong, so encourage the acceleration of the flow of goods, production and employment. If non performing loan was getting higher, then the interest will be a compound interest Margins and selling prices unchanged No trade transaction Fulfill buying and selling principles Determining the interest is not considering the profit and loss Determination of the profit sharing ratio in aqad, based on the profit and loss The percentage of interest previously determined, based on the lending amount The profit sharing is accordance with the agreed ratio Interest payment amount is not increased align with the increment of profits The number of profit-sharing increases align with the increment of the income If loss happened, it is only covered by the Borrowers, based on fixed interest payment as promised in t he agreement If loss happened, both parties will covered the loss The interest paid by the borrower must be received by the bank The success of the business is going to be both parties ¿Ãƒâ€šÃ‚ ½ concern Table 1 show a comparison between riba  ¿Ãƒâ€šÃ‚ ½Interest ¿Ãƒâ€šÃ‚ ½ and profit comes from trade. The ambiguity of understanding either it is interest or usury has led to disagreement among Muslim scholars in the past. However, there is a general agreement that riba ¿Ãƒâ€šÃ‚ ½ includes all forms of interest, that is, any amount charged over and above the principal. By prohibiting interest, Islam wants to set up a just and fair society (Qur ¿Ãƒâ€šÃ‚ ½an 2:239). According to Shariah, it is unfair that the lender pay predetermined amount of fixed income irrespective of the return of the borrower ¿Ãƒâ€šÃ‚ ½s venture. As a result, The Islamic Financial System prohibited interest in all transaction and this is including receiving of i nterest which is the main principle in the conventional banking module. Moreover, the Islamic financial system also prohibited any other financial product and services which include interest and illegal product. An Islamic financial system or institution is much more than that, for it  ¿Ãƒâ€šÃ‚ ½is supported by other principles of Islamic doctrine advocating risk sharing, individuals ¿Ãƒâ€šÃ‚ ½ rights and duties, and the sanctity of contracts. ¿Ãƒâ€šÃ‚ ½ (Z. Iqbal and A. Mirakhor). The Islamic Financial System is wider than only banking transactions, it includes investment product, capital arrangement, and all types of financial services. As a result for the above prohibition of interest  ¿Ãƒâ€šÃ‚ ½Riba ¿Ãƒâ€šÃ‚ ½, no transaction are allowed if the transaction contain interest  ¿Ãƒâ€šÃ‚ ½Riba ¿Ãƒâ€šÃ‚ ½ but allow trade between people as mentioned in Al-Quran verse Al-Baqarah (2:275) and different parties can do transactions base d on this rule and this relationship between both parties which obey with Shari ¿Ãƒâ€šÃ‚ ½ah is called partnership. The main difference in the transaction done by Islamic bank and conventional bank is the Islamic bank use good and services as a commodity to trade with customer to generate profit not same as the conventional banks which using the money as a commodity and they will use the interest rate to determine the profit margin so there is no real commodity other than the money is traded between the bank and the people but in the Islamic bank transaction there is product and services included in the transaction and the money is used only as tool of exchange and this kind of transactions have big impact on the economy because it encourage the flow of goods, services, manufacturing and employment so in the Islamic banking every transaction should involve buying and selling of a commodity (Trade) and this trade should not be cash to cash. Another difference, In Sharià ‚ ¿Ãƒâ€šÃ‚ ½ah transactions, the profit margin remain constant and can ¿Ãƒâ€šÃ‚ ½t be changed and will remain same as what parties agreed in the contract (aqad). Where ¿Ãƒâ€šÃ‚ ½s in the conventional banks transactions, the bank can charge the customer higher interest rate in case the customer is unable to pay any of the agreed installment on time. In Islamic banking transaction, the profit margin / sharing is calculated based in the profit or loss which will occur because of the agreed transaction. This is not the case in the conventional banking transaction, the profit or interest will be representing the actual profit or loss and the lender will not be concern about the ability of the borrower. In the Islamic bank transaction both party will cover the losses if it ¿Ãƒâ€šÃ‚ ½s happened not like the conventional bank transaction which the lender will receive fixed profit even of the loss has been occurred in the transaction and in this case the borrower will cover the loss individually. Gharar Islam prohibits all games of chance and gambling: They will ask about intoxicants and games of chance. Say:  ¿Ãƒâ€šÃ‚ ½In both there are great evil as well as some benefit for man, but the evil which they cause is greater than the benefit which they bring. ¿Ãƒâ€šÃ‚ ½ (Qur ¿Ãƒâ€šÃ‚ ½an 2:219) In Qur ¿Ãƒâ€šÃ‚ ½an 5:90, games of chance and gambling are prohibited because they cause enmity and hatred and also involve consuming property (bay` albatil), which is a kind of oppression. The question is whether gharar, which involves uncertainty or speculation, is halal (permitted) in business. According to Ibn Taymiyyah, if the sale contains gharar and devours the property of others, it is equivalent to gambling and, as such, haram (forbidden). Pointing to the phrase devours the property of others pines that speculative risk-taking in commerce, which involves the investment of assets, skill, and labor, is not simil ar to gambling. In business, participants engage in transactions designed to maximize profit through trading, not through any dishonest appropriation of other people ¿Ãƒâ€šÃ‚ ½s property. Similarly, according to El-Ashkar, speculation in business is not the result of turning over a card or throwing the dice, but rather is  ¿Ãƒâ€šÃ‚ ½ the practice of (a) using available information to (b) anticipate future price movements of securities so that (c) [the] action of buying and selling securities may be taken with a view to (d) buying and selling securities in order to (e) realize capital gains and/or maximize the capitalized value of security-holdings (A. F. El-Ashkar ,1995). Islam allows risk-taking in business transactions, but prohibits gambling. On the other hand, Islam prohibits the dealing in some product like tobacco, Alcohol, pork, gambling, illegal drugs and pornography and other harmful products. All Islamic bank should follow this role and should not enter in to any agreement include the above mentioned items. Zakat Is the Islamic version of tax, people who owned certain amount of wealth (nisab) must pay certain amount of their wealth to poor people, this not only apply for individual but it is also applied for institution so every Islamic bank must create a Zakat fund and pay this Zakat if the profit achieved reaches to the level of nisab. In this case, the Islamic banks also have to pay any business related taxes indicated in the country rule and regulations so the Islamic banks have to pay two kinds of taxes, the Zakat and the normal income tax. 2.3 Products of Islamic Banks and Their key Elements We can classify the Islamic financial products into two main categories: equity-type contracts and mark-up price (debt) type contracts. All Islamic financial products come as a result of the prohibition of interest so we will notice that any contract signed by Islamic bank should not contain interest. 2.3.1 Equity-type contra cts Under the equity type contracts there are only two types of contracts: Mudarabah (trust financing) and Musharakah (partnership), based on the profit-and-loss sharing (PLS) principle, (B. Hamwi and A. Aylward, 1999). Mudarabah The two parties  ¿Ãƒâ€šÃ‚ ½ the supplier of capital (rabb al-mal) and the entrepreneur (trustee of the venture)  ¿Ãƒâ€šÃ‚ ½ share the profits according to an agreed-upon PLS ratio. It may be 70:30 or 80:20, depending upon the agreement. In Mudarabah contract, there is no fixed annual payment and lender will not guarantee any return (Samad, Gardner, and Cook). Another element in Mudarabah contract is about the losses which may occur from the business venture. Shari ¿Ãƒâ€šÃ‚ ½ah role says the capital owner should bear the monetary losses where the mudarib will not take any responsibilities in covering the monetary losses. Last element in Mudarabah contract is that the capital owner or the financier has no right to control how the mudarib manage the business venture so the mudarib have full right to manage it. Al-Arabi (l966) envisaged a banking system with Mudarabah as the main pivot. He was taking about using Mudarabah contract as a saving account by the idea of the two-tier Mudarabah so the banks will act as mudarib in case of getting deposits from customer and in another time the bank will be the depositor when it comes into the deposits of the bank ¿Ãƒâ€šÃ‚ ½s shareholders. Irshad (l964) mentioned Mudarabah as a main principle in the Islamic banking. Although his idea about Mudarabah differs from other writer but he still indicates the Mudarabah as a saving account. The main difference between Irshad and the others is that he introduced the idea of sharing the profit comes from the Mudarabah contract between the bank and the depositor and they will share the profit or loss equally in fifty-fifty bases. His idea was against Shari ¿Ãƒâ€šÃ‚ ½ah role regarding Mudarabah as ShariÂà ‚ ¿Ãƒâ€šÃ‚ ½ah says there is no profit or loss sharing in the Mudarabah contract. Musharakah Is a partnership agreement between two or more parties; all parties will participate in the capital. Musharakah have main three principles. First principle is about the capital contribution and profit sharing and what is the pre-agreed percentage of each party. In case of profit, every party will get his part based on the agreed percentage in the contract and not necessary its equal the percentage of their capital participation but in case of loss, parties will share the losses based on their capital contribution. The second principle, in Musharakah agreement all parties have the right to manage the investment. Last principle is that liability is unlimited joint venture individual customer. Siddiqi (1968) come with a pioneered idea and establish a details outline for the interest free bank in the way to have a well established Islamic banking. He used Musharakah and Mudarabah contra cts to build his suggested model for the Islamic banking system. He classified the operations of the Islamic banking system into three categories; services against fees, commissions, financing on the bases of Mudarabah. His model was a possible substitute for the conventional banking. 2.3.2 Mark-up price (debt)-type contracts. The mark-up-price contract is mainly a financing contract which the bank will finance borrower to purchase certain asset for an agreed profit margin. There are five type of mark-up price contracts; Murabaha, Baimuajjal (Deferred Payment Sales), Ijarah (Lease financing), Ijara (Operating Lease) and Qard Al-Hassan. Below are some details on each type. Murabahah (bay` bi al-thaman al-ajil) Is the bank will buy an asset on behalf of a customer and then will resell it to him at a pre-agreed price and profit margin so the bank will charge the customer cost of the asset plus the agreed profit and the payment of this amount to the bank will be in the futur e either in installments or total amount in single payment. The main distinguishing of Murabaha comparing to the conventional interest based financing product is in Murabaha the ownership of the asset purchased will remains with the banks till the customer fulfill all his obligation by paying the agreed amounts. From an economic point of view, Murabaha financing and interest-based trade financing appear quite similar, except in their contractual features. The profit margin calculated on top of the cost seems to be very similar to the interest charged by the conventional banks on top of financed amount but Islamic banks will take a real risk by purchasing the assets and keep it under its ownership till transfer the ownership to the customer. The Islamic bank will act as an intermediary between the seller and the buyer and will be responsible if anything went wrong. Baimuajjal (Deferred Payment Sales) This is sale contract with a deferred payment which will be paid either in pre agreed installment or will be paid as one payment after certain agreed time. Payment term should be agreed at the time of the sale and seller should not charge the buyer any charge against the deferment of the payment. This kind of transaction is considered as trade and not loan. This similar to the Investment Murabahah with the difference of the sale under this contract is based on credit rather on cash. Qard Al-Hassan This kind of loan is not available in the conventional banks; it ¿Ãƒâ€šÃ‚ ½s a zero profit loan and banks will not get any financial return when providing this kind of loan to customers. Islamic bank normally use to give this loan to poor and needy people and the receiver of this loan have only to repay the principle with no extra profit. Ijarah (Lease financing) In Ijarah, the Islamic bank will buy the assets required by the customer and will keep the ownership under the name of the bank. The bank will sign an Ijarah agreement with the custome r to allow him to use the asset and the customer will pay a monthly rent, the rent here is replacing the normal loan installment. The ownership of the assets will be transferred to the customer either by the end of the period and after he pay all the agreed amount or it will be partially transferred over the period of the contract. Ijarah (Operating Lease) Ijarah is the leasing of building, equipment, machinery, aircraft, plants and others capital assets. Same as the finance lease, the bank will buy the asset and lease it to end user under a lease agreement which the customer has to pay an agreed rent. The customer will use these assets for his operation and generating profit. The ownership of the assets will remain with the bank even after the period of the contract. 2.4 Financial Crisis 2008 Th? glob?l f?n?ncl cr?s?s ?s on? of th? b?gg?st ?ssu?s th?t conc?rn hum?n?ty s?nc? l?st f?w yrs. Th?s d?s?st?r h?s touch?d v?rtu?lly ?v?ry country. R?duc?d prof?ts, loss of jobs, r ?s?ng pr?c?s, d?l?y?d w?g?s, st?p?nds, p?ns?ons ?nd un?mploym?nt. P?opl? ?r? just ?n ? p?n?c The 2008 financial crisis in fact taking place to show its effects in the second half of 2007 and keen on 2008. Around the world stock market have fallen, large financial instituation have collapsed, downsized or been bought out and government in even the great nation have to come up with rescue plans to secure their financial system. F?n?ncl cr?s?s ?nd th? cons?qu?nc?s on to glob?l ?conomy Th? f?rst rson for th? f?n?ncl cr?s?s ?s th? drop of th? US rl ?st?t? m?rk?t, wh?ch h?s rch?d ?t ¿Ãƒâ€šÃ‚ ½s down po?nt ?round 2005-2006. Th? ?p?d?m?c of c?nc?l?ng mortg?g?s w?tch h?s st?rt?d ?n USA ?t th? ?nd of 2006 cont?nu?d to drn wlth from th? consum?rs ?nd d?crs?ng f?n?ncl pow?r of b?nk?ng ?nst?tut?ons3. Incrs? ?n lost lb?l?ty to p?y for d?bts ?nd los?ng opportun?ty for oth?r typ?s of lo?ns sprd from rl ?st?t? m?rk?t to oth?r ?conom?c s?ctors. Tot?l los?s ?r? ?st?m?t?d ?n tr?ll?on of US doll?rs glob?lly. 1.4.1. What caused the Economic Crisis of 2008? Greed is the suitable word to describe what happened in the financial crisis in 2008. Th? r?srch on th? r?c?nt f?n?ncl cr?s?s ?s ?mpl?, ?nd researcher h?v? ?d?nt?fd ? many ?ssu?s th?t l?d to th? cr?s?s. Som? of th? ?ssu?s ?nclud? th? sub- pr?m? cr?s?s th?t w?s ?n?tt?d ?n th? Un?t?d St?t?s of Am?r?c? ?nd th?n sprd to th? Un?t?d K?ngdom ?nd Europ?. Over the year before 2008, the lender was happy and aggressively lending money to people who in many cases they can ¿Ãƒâ€šÃ‚ ½t pay their installments. They grant loans to those people against high interest rate. As this loans are backed with a mortgage so when the borrower default his payment the kinder will simply put the house back to the market and in other case they pass the risk off to mortgage insurer or put all defaulted mortgage together and sell them as mortgage backed securities. 1.4.2. Time Line of the Economic crisis The below time line of the financial crisis was published by the telegraph.co.uk and it list down the major event happen before, during and after the financial crisis. Will use this time line just to see what is the main cause of the financial crisis and is this causes can affect the Islamic investment bank sector in Bahrain. 2007  ¿Ãƒâ€šÃ‚ ½ Late July/early August 2007: The UK stock market goes through a period of volatility. Banks begin to stop lending to each other due to market fears over exposure to potential losses on high-risk US mortgages. The credit crunch begins in earnest.  ¿Ãƒâ€šÃ‚ ½ September 13, 2007: News breaks that Northern Rock has sought emergency funding from the Bank of England in its capacity as lender of last resort. It prompts the first run on a bank for more than a century. 2008  ¿Ãƒâ€šÃ‚ ½ February 17, 2008: The government announces that struggling Northern Rock is to be nationalized for a temporary period.  ¿Ãƒâ€šÃ‚ ½ July 14, 2008: Financial authorities step in to assist Americas two largest lenders, Fannie Mae and Freddie Mac, owners or guarantors of 5 trillion worth of home loans.  ¿Ãƒâ€šÃ‚ ½ September 15, 2008: Wall Street bank Lehman Brothers files for Chapter 11 bankruptcy protection and another US bank, Merrill Lynch, is taken over by the Bank of America.  ¿Ãƒâ€šÃ‚ ½ September 17, 2008: Lloyds TSB announces a  ¿Ãƒâ€šÃ‚ ½12 billion deal to take over Britains biggest mortgage lender HBOS after a run on HBOS shares.  ¿Ãƒâ€šÃ‚ ½ September 28, 2008: European banking and insurance giant Fortis is partly nationalized to ensure its survival.  ¿Ãƒâ€šÃ‚ ½ September 29, 2008: The government takes control of Bradford Bingleys  ¿Ãƒâ€šÃ‚ ½50 billion of mortgages and loans. Savings operations and branches are sold to Spains Santander.  ¿Ãƒâ€šÃ‚ ½ The Icelandic government also takes control of the countrys third-largest bank, Glitnir, after the company fac es short-term funding problems.  ¿Ãƒâ€šÃ‚ ½ September 30, 2008: The Irish government guarantees deposits in the countrys main banks for two years.  ¿Ãƒâ€šÃ‚ ½ October 6, 2008: Trading is suspended in Icelandic banks including Kaupthing, Landsbanki, Glitnir, Straumur-Burdaras, Exista and Spron.  ¿Ãƒâ€šÃ‚ ½ October 7, 2008: The Icelandic government takes control of Landsbanki, the countrys second largest bank.  ¿Ãƒâ€šÃ‚ ½ October 8, 2008: The Bank of England cuts interest rate by 0.5% to 4.5% in a surprise decision as part of a co-ordinate global attempt to ease the financial crisis. The Government unveils an unprecedented  ¿Ãƒâ€šÃ‚ ½50 billion plan to part-nationalize major UK banks and pump billions more into helping ailing money markets.  ¿Ãƒâ€šÃ‚ ½ The Bank of England also extends the existing  ¿Ãƒâ€šÃ‚ ½50 billion Special Liquidity Scheme to  ¿Ãƒâ€šÃ‚ ½200 billion, while a further  ¿Ãƒâ€šÃ‚ ½250 billion is being pumped in under a debt guarantee scheme.  ¿Ãƒâ€šÃ‚ ½ October 10, 2008: Treasury officials travel to Iceland for urgent talks after the collapse of the countrys banking sector leaves councils and charities in Britain facing losses of up to  ¿Ãƒâ€šÃ‚ ½1 billion.  ¿Ãƒâ€šÃ‚ ½ October 13, 2008: The government announces a  ¿Ãƒâ€šÃ‚ ½37 billion rescue package for Royal Bank of Scotland (RBS), Lloyds TSB and HBOS.  ¿Ãƒâ€šÃ‚ ½ October 19, 2008: Chancellor Alistair Darling announces plan to pour billions of pounds into major public works in an attempt to help spend the UK out of the worst of the economic downturn.  ¿Ãƒâ€šÃ‚ ½ November 20, 2008: The International Monetary Fund (IMF) approves a 2.1 billion dollars ( ¿Ãƒâ€šÃ‚ ½1.4bn) loan for Iceland, after the countrys banking system collapsed in October. It is the first IMF loan for a western European nation since 1976.  ¿Ãƒâ€šÃ‚ ½ November 29, 2008: The Governmen t takes a 58pc in RBS for  ¿Ãƒâ€šÃ‚ ½15bn, with a further  ¿Ãƒâ€šÃ‚ ½5bn of preference shares. Sir Fred Goodwin steps down as RBS chief executive, and is replaced by Stephen Hester. 2009  ¿Ãƒâ€šÃ‚ ½ January 15, 2009: The Irish government says it is to nationalize the Anglo Irish Bank.  ¿Ãƒâ€šÃ‚ ½ January 16, 2009: The US government provides the Bank of America with another 20 billion dollars from its 700bn dollar financial rescue fund to help it with the losses incurred when it bought Merrill Lynch.  ¿Ãƒâ€šÃ‚ ½ February 11, 2009: Ireland says it will inject  ¿Ãƒâ€šÃ‚ ½7bn into Bank of Ireland and Allied Irish in return for guarantees on lending, executive pay and mortgage arrears. It gets a 25pc indirect stake in both banks.  ¿Ãƒâ€šÃ‚ ½ February 26, 2009: RBS reports a loss of  ¿Ãƒâ€šÃ‚ ½24.1bn for 2008, the biggest in British corporate history. The government asks Sir Fred to give up an annual pension worth abou t  ¿Ãƒâ€šÃ‚ ½700,000.  ¿Ãƒâ€šÃ‚ ½ April 16, 2010: The Securities and Exchange Commission accuses Goldman of defrauding investors of more than $1bn by willfully mis-markting toxic sub-prime mortgage-related securities.  ¿Ãƒâ€šÃ‚ ½ May 2 2010: Greece gets a  ¿Ãƒâ€šÃ‚ ½110bn ( ¿Ãƒâ€šÃ‚ ½93bn) bail-out from other countries using the euro, and the International Monetary Fund.  ¿Ãƒâ€šÃ‚ ½ November 21, 2010: Irish Finance Minister Brian Lenihan says he will recommend to the Government that the country formally request a bailout package from the EU, ECB and IMF. 30122012 Don’t waste time! Our writers will create an original "The Research Topic Example For Free" essay for you Create order

Australia Federation Encourages Immigration Policy

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The Importance Of Stem Cells - 1338 Words

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Risk And Decision Making @Retail Industry

Ques:Write an article on Risk Management and decision making in business industry? Table of Contents Introduction. Objectives of the research. Research questions. Research methods. Literature Review. Data collection. Data analysis. Conclusion and Recommendations. References. Introduction Management of risk is one of the main concerns of the retail companies (Ey.com, 2014). The retail landscape is highly competitive. The retail industry face challenges from the economic downturn (Dnb.co.in, 2014). The retail industries are aware of the various types of risks and threats that are posed by the various organizations. The retail industry has to integrate their approach in order to address to the risks. The retail organizations face various types of risks. They are credit risk, operational risk, risk related to the expansion, growth and supplier risk. The retail industry has to take the decisions after proper analysis in order to minimize the risk (How to survive in an economic downturn and be even more competitive when the economy recovers, 2014; p-1-6). Objectives of the research The aim of the research is to analyze the various types of risks faced by the retail industry. The ways by which the risk can be minimized has been discussed in the paper. Research questions What are the various types of risks that affect the retail industry? What are decisions taken by the retail organizations to minimize the risk? Research methods The methodology of research can be divided into two categories. They are qualitative and quantitative in nature. The qualitative analysis is done by direct interaction with the sample. This is done by conducting interviews. The direct response of the customer can be obtained. The quantitative research is done by conducting surveys via questionnaires. The data obtained from quantitative analysis will be analyzed. The various types of risks that affect the retail industry can be analyzed by quantitative method. Literature Review The retailers are increasing their focus in managing the various risks that affect the retail industry. The down turn of the economy has resulted in increasing the importance of managing the credit risk. Management and integration of the credit risk is essential to avoid the future risks related to finance. Credit risk has negative impact on management of the retail operations. The management of the customer data has to be enhanced in order to address the various issues related to credit risk. There are various ways that are devised by the retail industry in order to manage the credit risk. These include management of the credit portfolio and collection management. Management of the supplier risk is an important concern of the retail industry. The management of the supplier reputation and quality is one of the major concerns of the retailers. The retailers are closely interconnected with the suppliers (Improving Sustainable Supply Chain Efforts Among Retail Leaders, 2014). So, mainte nance of connection with the suppliers is essential for the running the business in the retail industry. The customers show concern regarding the regarding private issues and protection of the database of the customers. There are several high profile incidents that have occurred in the retail industry related to the loss and theft of the information of the customers. Thus it is raising the concern of the retailers to manage the database of the customers effectively. Among the top ten supply chain management issues the retail companies give emphasis to the maintenance of the ethics and reputation of the supplier. The management of the supply chain risk issues is essential for mitigating the risks related to supply chain. Risk management helps the organization to deal with the various issues related to the volatility at the market place and minimize the complexity of the organization. The increasing volatility of the economic and the financial environment has resulted in the formulation of risk management techniques by the retail sector. Risk management is an effective tool to deal with the increasing volatility of the economic and the financial environment. The organization can be managed effectively by the various tools of risk management. Management of risk by the organizations provides competitive advantage to the organization (Transforming risk management into a competitive advantage, 2014). The organization can allocate the resources effectively. This will reduce the cost of expenditure of the organizations. Organizations have been able to manage risk and achieve sustainable profit and growth by following the various techniques of risk management. Management of the credit risk is an essential f actor for retail organizations. The retail organizations like bans monitor the various risks in the banks in order to avoid risk related to credit. The banks have established risk related framework so that they can take the decisions effectively for the management of risks. This has resulted in the reduction of the credit risk of the retail organizations. The retail organizations are using end to end risk management solutions for managing and facilitating the various workshops related to training and workshops. This will increase the return on investment of the customers. The customers can achieve tangible benefits from the process. Thus risk management has become an effective tool for the success of the organization. The retail organization can manage the various risks by analysis and using various advanced tools of risk management. This is important for the growth of the organization (Global Risk Management Point of View Retail, 2014;1-11). Economic downturn has increased the risk of the organizations (Nonprofitrisk.org, 2014). Thus the organization must perform activities to manage the risk. There must be a formalized and a structure technique for the management of risk of the organization. This will help the organization to grow. The risk management techniques will strengthen the pillar of the organization. Thus the organization must devise strategies in order to manage the economic downturn. Thus the organization can manage itself effectively for the next recession (Risk Management in a time of Global Uncertainty, 2014). The organization often faces risks that affect the reputation of the organization. Preserving the reputation of the organization is the goal of the organization. The goal of the organization has to be communicated among the employees of the organization in order to retain the culture of the organization. The organization must make additional efforts to maintain the reputation of the organization. Another risk affecting the retail industry is the risk that is associated with the management of the supply chain (Business.qld.gov.au, 2014). The supply chain disruptions can affect the supply chain adversely. Thus the organization has to devise strategies to manage the risks related to supply chain in an efficient manner. This will ensure sustainable growth of the organization. The risk management of the organization must be a balance between flexibility and vulnerability. The organization has to prioritize between the various issues that it is facing. The organization must implement a necessary plan for the improvement of the coordination among the supply chain (Culp, 2012). The management of the various risks helps to reduce the barriers and maximize the growth opportunities of the organization. The variability of the business organization can be reduced by taking risk management techniques. This will enhance the value of the organization. The risk management techniques will be beneficial for the organization for the purpose of decision making of the organization. The organization will be able to maintain a balance between the risk and the opportunity. This can be achieved by reducing the cost of capital of the organization. There must be risk transparency in the organization. The risk management can be improved by decreasing the negative effects that has been created by the various risks. The tangible as well as the intangible risks can be protected. The profitability of the organization will increase (Conrad and Yau, 2014).The risks in the retail sector can be managed by using efficient risk management techniques. This will ensure long term sustainabi lity of the organization. The profitability of the organization will not be affected. Data collection The process of collection of data is based on secondary data collection method. The data is collected from various journals and newspaper articles to describe the various risks facing the retail industry and the various techniques for management of the risk. Various statistics can be used as an effective tool for the process of data collection. Secondary data basically indicates data in which the background work has already been done. This can be obtained from the published texts related to the issue. The statistics that has been published can also be used for analysis of the research topic. The design of the research can be done in an efficient manner with the use of secondary data. The secondary data often provides a base for the primary data. There are various sources of secondary data. The source can be internal as well as external. The internal sources of secondary data are the records of sales, marketing activities of the organization, information about the cost and report of d istribution. The feedback of the customers using the products of the organization can also be used internal source of secondary data. The external sources of the secondary data are journals, newspaper, magazines and the internet. Data analysis The data obtained from the various sources show the various types of risk that affect the various retail organizations. One of the major risks that affect the retailer is the supplier related risk. It is a critical aspect of all retail organizations. Since the retail organizations are not involved in the process of manufacturing the product, supplier risk is one of the critical aspects faced by retail organizations. The various supplier related issues that is difficult for the organizations to control are shown below. The various risks related to the suppliers includes ethics of the suppliers and the reputation of the suppliers, the quality of the suppliers , the concentration of the suppliers, the variation in the lead time , disruption of the suppliers and the supplier tax and regulatory mechanisms. The major risk related to the supplier risk in the retail sector is related to the ethics of the suppliers and the reputation of the supplier. The data shows that 37 % of the supplier risk is related to the ethical issues with the suppliers. 20% of the risk arises as a result of inability of the supplier to maintain the quality of the product. The concentration of the supplier is an important factor to minimize the risk of the supplier. But the analysis shows that the risk related to the concentration of the supplier is 17%. Risk related to disruption of the supplier is 9% whereas the risk related to the supplier tax and other regulatory mechanisms are 6%. Retail industry is considered as the most competitive industry. It is seen that risk function is a major source of competitive advantage. Thus the retail industry is considered to be one of the highest performing sectors relative to the competitors. On comparing the competitive advantage of the various sectors, it is seen that the competitive advantage of the retail sector is the highest. The performance of the retail sector is the highest followed by the capital market, banking and the health care sector. The retail industry considers them to have higher level of efficiency in the management of the various risks. More than 60% of the organizations consider themselves to be the master in the management of risk than the industry average. The capability of the retail organizations in the process of decision making has helped the organization in taking the key decisions related to investment decisions, expansion decisions and the management of the performance of the organization. The retail industry has been seen to be proactive in identifying the various new risks that affect the retail industry. They have been constantly innovating themselves by bringing new tools for risk management which acts as a competitive differentiator. Th e retail organizations maintain good relationships with the regulatory agencies. Thus the regulatory agencies help the organizations in the future reforms. Credit risk and integration of the market risk along with finance has greatest impact for managing the retail operations. Among the various risks that has been concerning the retail sector, credit risk and financial integration has been a major problem for the retail organizations. Thus managing the two types of risk is crucial for the growth of the retail operations. Thus the retail organization considers management of the credit risk as one of the top priority of the retail organizations. This will ensure that there is no risk as a result of credit default in the organizations. The retail organizations have to implement strategies in order to mitigate the credit risks of the organizations. This will increase the efficiency of the organization and ensure sustainable growth of the organization. The various type of risk that affects the retail industry has been analyzed. The supplier risk and the credit risk is one of the major risks that affect the retail industry. However the retail industry has adopted various tools for the management of the risks in an effective way. The risk management tools have helped the organization for the purpose of decision making of the organization. This is essential for sustainable growth of the retail industry. The retail industry is the most competitive sector among all the major sectors. Conclusion and Recommendation The retail organization can manage the various risks by undertaking the following measures The retail organizations must focus on improving the quality of the data apart from focusing on improving the quantity. The retail organization must organize and restructure the data they receive from the customers. This can be done by the use of analytics. The retail organizations must incorporate efficient techniques for the management of the data. The data management will serve as an effective tool for managing the credit risk of the organization. This will maintain the data of the customers in a secured way. The retail organizations can improve their capabilities of risk management by improving their area of governance. The responsibility of corporate governance must be assigned to the right person so that he is able to handle the entire process. The importance of the integration of the credit risk with finance has been understood by the retail organizations. But it is difficult for the retail organizations to integrate credit risk with finance. Thus governance is required to manage the credit risk of the organizations. The retail industry is a highly competitive industry. But one can gain competitive advantage from its peers by taking a broader and integrated view for the management of risk. However, it is very important for organization for controlling the cost and maintains the operational efficiency of the organization. The organization must be able to achieve competitive advantage by devising the risk management approaches in an integrated manner. This will be essential for competitive advantage of the organization. Risk management is essential for the process of decision making of the organization. This will infuse risk awareness within the organization. The organization will be able to manage the risks effectively. The way in which the organizations can differentiate themselves from the competitors is by managing the risks effectively. The organizations can make risk management investments in order to increase the value of the organization to the share holders and achieve high performance. References Business.qld.gov.au,. (2014). 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