Cross-cultural Management Essay Example for Free

Cross-cultural Management Essay Culture could be defined as all the ways of life including traditions, religion, language, behaviors, arts and everything that creates identity to a country. In such a globalized world, where in most organizations we have people from the entire world, it is very important to know about cross-cultural management in order to understand people’s behavior and needs in order to avoid problems and have a pleasant and successful workplace. I chose to watch the movie ‘Lost in translation’, a 2003 American movie directed by Sofia Coppala. The film shows us what it is like to find ourselves in a completely different environment, culture. Gist of the movie: The movie focuses on issues such as loneliness, alienation and culture shock through the story of two Americans feeling lost in modern day Japan. One’s Bob Harris, an aging American movie star, who arrives in Tokyo to film an advertisement for a Japanese whisky brand. Apart from experiencing the culture shock he is also having a mid-life crisis and seems tired by his marriage which lacks emotions. Then there’s Charlotte, a young Yale graduate who comes here with her husband who is a photographer. She feels left alone by her partner who spends most of his time working, which makes her unsure of her marriage and life. The two eventually meet and together explore the differences in American and Japanese cultures. In the beginning of the movie, characters are portrayed in many situations, which make it clear that they are experiencing symptoms of culture shock. We see Bob Harris having problems with understanding and adjusting to the newfound conditions since his arrival in Tokyo, e.g. when he is greeted by almost every member of the hotel staff in which he stays and receives gifts and name cards from Japanese people. It is easily noticeable that he is not used to this kind of behavior, where as in the Japanese culture it marks high respect and gratitude to offer one’s business or visiting card on their first introductions. It is also indicated that he is an alien in this culture in one of the first scenes of the movie where in an elevator he is surrounded by natives significantly shorter than him. One of the reasons why newcomers feel uncomfortable in the host culture is the limited ability to communicate or complete lack of competence in speaking in a different language. Characters, especially Bob, have problems with communicating many times. One of the interesting and funny scenes was the first time during the shooting of the ad: The Director (with blue contact lenses) says a few long sentences in Japanese. TRANSLATOR, a middle-aged woman in a coordinated outfit, translates but it is only a short sentence now. TRANSLATOR He wants you to turn, look in camera and say the lines. Bob wonders what shes leaving out, or if thats the way it works from Japanese to English. BOB: Thats all he said? TRANSLATOR: Yes, turn to camera. Bob thinks lets just get it over with. BOB: Turn left or right? The Translator blots her face with a tissue, and asks the director in a Japanese sentence 5 times as long. The Director answers her in a long excited phrase. TRANSLATOR: Right side, and with intensity. BOB: Is that everything? It seemed like he was saying a lot more. The excited Director says more in Japanese. Translator nods in understanding. Bob doesnt really know whats going on. TRANSLATOR: Like an old friend, and into the camera. DIRECTOR (to Bob): Suntory Time! Here, Bob is aware of the translator’s incompetence and knows that the director said and asked him for a lot more. However, his linguistic incompetence does not allow him to fully interact and take part in the exchange of ideas. He is at the mercy of a translator not able to properly express herself in English. Another factor which contributes to experiencing culture shock is being unable to find the way or use public transport. In one of the scenes we can see Charlotte having those problems while standing in front of the Tokyo metro plan and staring at it with confusion. She seems to feel lost in the huge crowd but she has to deal with it alone since she has no friends with her and does not know the language. The feeling of loneliness is shown in the film in numerous scenes. It is most clearly visible when the characters are portrayed looking through the windows, giving the impression of being sad and absent. In the hotel room, on the back seat of a taxi they are always alone, separated from the busy city by glass. Their look may be called the far-away stare or the tropical stare, which is a sign of a serious culture shock. Another issue which does not make functioning in a different culture easy is food, which is very often unfamiliar. In a scene from the movie, Bob and Charlotte go for lunch. In the restaurant the waitress brings them drinks. She pours beer slowly, and turns on a pot on the table to cook their food. Charlotte looks at the menu as it is filled with photos of different trays of meat. The waitress doesnt speak English. CHARLOTTE: I cant tell the difference? They have trouble ordering, but point to a picture on the menu. BOB: Well have two of these. (He is forced to choose something randomly) Apart from the inability to distinguish between different dishes they also cannot communicate verbally with the waitress. None of them can speak Japanese and the restaurants employee does not know any English. In the final scenes of the movie, it is noticed that Bob is going through a certain stage of cultural shock i.e.; adjustment and appreciation. He found himself a friend, and seemed to like and appreciate his host culture. Back in the Presidential, alone, Bob leans against the little doily. They drive off. He looks out the window, Bobs happy hes going home, he’s happy he came to Tokyo. Since he was happy he came to Tokyo I assume that later he had some difficulties adjusting back to his own culture. Personally this movie helped me to learn a few modern day Japanese cultures. Also it depicts that no matter which country you choose to go, it’s always better to learn at least the basics of its language.

How Technology Has Positively Impacted Society on Defense :: Argumentative Persuasive Papers

How Technology Has Positively Impacted Society on Defense Defense Technology has come a long way since the early nineteen hundreds.With the invention of tanks and planes our country felt it had an adaquate defense, but as technology improved on the opposition side so came the demand for more improved defense measures. For instance in World War II Germany was developing mass amounts of war machinery that was bigger and better than ours. The Invention of the radar played a significant role in defense against these odds. Radar was fully developed by 1942 and was extremely instrumental in Britains defense against German bombers. This technology was developed into anti ship and submarine radar, by the United States Navy, which has been used successfully since then. The US Army also used radar, initially to aim searchlights so the soldier aiming the gun could see where to fire, but the systems evolved into fire control radar that aimed the guns automatically. When the United States came under attack by the Japanese in 1941 all of North America became concerned about homeland defense and imminent attack,society demanded protection. The Japanese had a large Navy very capable of just such a task. As the war escalated it was clear that the US had to develop better technology and fast. In the skies Japanese planes were anilating American aircraft. Technology was again depended upon by society to find a match for the zero, thus came about the F4U corsair. This had a positive effect on society as it created a more secure feeling of defense. US citizens still demanded a quick end to the war so the defense department went to work on the atomic bomb, of course the results would change the world forever. As Americans felt more secure with its new technology in defense a new danger developed in Russia, thus was the beginning of the cold war, perhaps the worst scenario of all. As the world entered the 1950's it was commonplace to see bomb shelters in a lot of backyards. Propaganda was at a new high and fear spread throughout the world. Regardless both countries felt confident of the latter. Society demanded again that higher technology was there only defense. The United States started to develop spy techniques as did the Russians to keep a close eye on each other's progress, this seemed to be the only way to keep the power in balance.

Definition of Mergers and Acquisition Essay

One plus one makes three: this equation is the special alchemy of a mergers or an acquisition. The key principle behind buying a company is to create shareholder value over and above that of the sum of the two companies. Two companies together are more valuable than two separate companies – at least, that’s the reasoning behind Mergers and Acquisition. This rationale is particularly alluring to companies when times are tough. Strong companies will act to buy other companies to create a more competitive, cost – efficient company. The companies will come together hoping to gain a greater market share or to achieve greater efficiency. Because of these potential benefits, target companies will often agree to be purchased when they know they cannot survive alone. Distinction between Mergers and Acquisitions Although they are often uttered in the same breath and used as though they were synonymous, the terms mergers and acquisition mean slightly different things. When one company takes over another and clearly established itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist; the buyer â€Å"swallows† the business and the buyer’s stock continues to be traded. In the pure sense of the term, a mergers happens when two firms, often of about the same size, agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a â€Å"mergers of equals. † Both companies’ stocks are surrendered and new company stock is issued in its place. For example, both Daimler – Benz and Chrysler ceased to exist when the two firms merged, and a new company, DaimlerChrysler, was created. In practice, however, actual mergers of equals don’t happen very often. Usually, one company will buy another and, as part of the deal’s terms, simply allow the acquired firm to proclaim that the action is a merger of equals, even if it’s technically an acquisition. Being bought out often carries negative connotations, therefore, by describing the deal as a merger, deal makers and top managers try to make the takeover more palatable. (Investopedia. com – the resource for investing and personal finance education. http://www. investopedia. com/university/mergers (Page 3 of 15). A purchase deal will also be called a merger when both Chief Executive Officers agree that joining together is in the best interest of both of their companies. But when the deal is unfriendly – that is, when the target company does not want to be purchased – it is always regarded as an acquisition. Whether a purchase is considered a mergers or an acquisition really depends on whether the purchase is friendly or hostile and how it is announced. In other words, the real difference lies in how the purchase is communicated to and received by the target company’s board of directors, employees and shareholders. Garbage (2007) in his thesis paper on International Mergers & Acquisitions, Cooperation and Networks in the e-business’ defines a mergers as â€Å"the combination of two or more companies in which the assets and liabilities of the selling firms are absorbed by the buying firm†. According to Gaughan (2002) â€Å"a mergers is a combination of two companies in which only one company survives and the merged company ceases to exist, whereby the acquiring company assumes the assets and liabilities of the merged company†. An acquisition also known as a takeover? s the buying of a company, the target? by another or the purchase of an asset such as plant or a division of a company. In the case of Vodafone acquisition of GT the acquired company Ghana Telecommunication Company limited still remains the legal name and Vodafone Ghana (VFGH) as the brand name. Rosenbaum and Pearl (2009) describe another form of acquisition known as a consolidation. According to them the terms mergers and consolidation are sometimes used interchangeably. As a general rule of thumb, a merger describes the acquisition of a smaller company by a larger one. If the union is between two corporations of more or less equal size, then the term consolidation is probably applicable. For the purpose of this study, the definition of Rosenbaum will be adopted as the working definition of a merger. Types of Mergers From the perspective of business structures, there are different kinds of mergers. According to Welch, P. and Welch, G. (2007) Economics: Theory and Practice (8th ed. ), economists generally classify mergers into three types: (1) horizontal, (2) vertical and (3) conglomerate. Horizontal mergers This type of mergers takes place when two firms in the same line of business i. . they are in direct competition or they share the same product lines and markets combine. A typical example is the 1999 Exxon Mobil mergers. The merger between Vodafone and Ghana Telecom which is the focus of our study is also a horizontal merger. Anticompetitive effects The vast majority of significant competition issues associated with mergers arises in horizontal mergers. A horizontal merger is one between parties that are competitors at the same level of production and/or distribution of a good or service, i. e. , in the same relevant market. There are two types of anticompetitive effects associated with horizontal mergers: unilateral effects and coordinated effects. Unilateral effects, also known as non-coordinated effects, arise where, as a result of the merger, competition between the products of the merging firms is eliminated, allowing the merged entity to unilaterally exercise market power, for instance by profitably raising the price of one or both merging parties’ products, thus harming consumers. In homogeneous markets, unilateral effects can be pronounced when two significant competitors merge to create a large, dominant player with only a few or no other competitors. In these markets, an important role in the assessment is played by market shares and by the capacity available in the market. In differentiated markets, unilateral effects tend to arise particularly when the two merging companies have highly substitutable goods. Such a price increase does not depend on the merged firm being the dominant player in the market. The likelihood and magnitude of such an increase will instead depend on the substitutability of the products supplied by the two firms – the closer the substitute, the greater the unilateral effects. Coordinated effects arise where, under certain market conditions (e. g. , market transparency, product homogeneity etc. ), the merger increases the probability that, post merger, merging parties and their competitors will successfully be able to coordinate their behaviour in an anti-competitive way, for example, by raising prices. As in the case of unilateral effects, the most common form of coordinated effects is in the case of horizontal mergers, i. e. mergers between firms active on the same market. The main question in analysing coordinated effects should be whether the merger materially increases the likelihood that firms in the market will successfully coordinate their behaviour or strengthen existing coordination. The task is to identify what factors are likely to lead to coordination taking place between firms post-merger. This was a controversial area with which competition authorities and courts have struggled to come to terms over the years, but experience has led to the emergence of some agreement on what conditions are most likely to give rise to coordinated effects. According to the â€Å"Airtours criteria†, coordination is more likely to emerge in markets where it is relatively simple to reach a common understanding on the terms of coordination. In addition, three conditions are necessary for coordination to be sustainable. First, the coordinating firms must be able to monitor to a sufficient degree whether the terms of coordination are being adhered to. Second, discipline requires that there is some form of credible deterrent mechanism that can be activated if deviation is detected. Third, the reactions of outsiders, such as current and future competitors not participating in the coordination, as well as customers, should not be able to jeopardise the results expected from the coordination. Vertical mergers These are mergers between firms that operate at different but complementary levels in the chain of production (e. g. , manufacturing and an upstream market for an input) and/or distribution (e. g. , manufacturing and a downstream market for re-sale to retailers) of the same final product. Another example is the acquisition of ABC television network by Walt Disney to enable Walt Disney air its recent movies to huge audiences. In purely vertical mergers there is no direct loss in competition as in horizontal mergers because the parties’ products did not compete in the same relevant market. As such, there is no change in the level of concentration in either relevant market. Vertical mergers have significant potential to create efficiencies largely because the upstream and downstream products or services complement each other. Even so, vertical integration may sometimes give rise to competition concerns. Anticompetitive effects Vertical effects can produce competitive harm in the form of foreclosure. A merger is said to result in foreclosure where actual or potential rivals’ access to supplies or markets is hampered or eliminated as a result of the merger, thereby reducing these companies’ ability and/or incentive to compete. Two forms of foreclosure can be distinguished. The first is where the merger is likely to raise the costs of downstream rivals by restricting their access to an important input (input foreclosure). The second is where the merger is likely to foreclose upstream rivals by restricting their access to a sufficient customer base (customer foreclosure). However, it should be noted that in general vertical merger concerns are likely to arise only if market power already exists in one or more markets along the supply chain. Conglomerate mergers involve firms that operate in different product markets, without a vertical relationship. They may be product extension mergers, i. e. , mergers between firms that produce different but related products or pure conglomerate mergers, i. e. , mergers between firms operating in entirely different markets. In practice, the focus is on mergers between companies that are active in related or neighbouring markets, e. g. , mergers involving suppliers of complementary products or of products belonging to a range of products that is generally sold to the same set of customers in a manner that lessens competition. This kind of mergers takes place when two firms in unrelated lines of business combine. A merger between a bank and a media house will be an example of a conglomerate merger. One example of a conglomerate merger was the merger between the Walt Disney Company and the American Broadcasting Company (http://www. sk. com/wiki/Conglomerate_merger) Anticompetitive effects Merger review in this area is controversial, as commentators and enforcement agencies disagree on the extent to which one can predict competitive harm resulting from such mergers. Proponents of conglomerate theories of harm argue that in a small number of cases, where the parties to the merger have strong market positions in their respective markets, potential harm may arise when the merging group is likely to foreclose other rivals from the market in a way similar to vertical mergers, particularly by means of tying and bundling their products. When as a result of foreclosure rival companies become less effective competitors, consumer harm may result. However, it should be stressed that in these cases there is a real risk of foregoing efficiency gains that benefits consumer welfare and thus the theory of competitive harm needs to be supported by substantial evidence. Evaluation of the effectiveness of existing regulations aimed to reduce anticompetitive practices of Mergers and Acquisitions in Ghana. Mergers and Acquisitions among companies in Ghana are regulated by the Securities and Exchange Commission (SEC) under the Securities Industry Law 1993 (PNDC Law 333) (Ghana Investment Promotion Center, 2008). The law mandates the SEC ‘to review, approve and regulate takeovers, mergers, acquisitions and all forms of business combinations in accordance with any law or code of practice requiring it to do so. Ghanaian law on mergers and acquisitions is an amalgamation of several executive and legislative instruments passed as the corporate finance industry continues to evolve. The need to generate constructive competition among enterprises has been recognized by the government, and monopolies are actively discouraged as a result. The merger in November 2003 of two prominent international mining companies – Ashanti Goldfields and AngloGold (AngloGold succeeded in outbidding Rand Gold in the highly con-tested race with an offering of $1. 4 billion) promises great value to shareholders and the operations of both companies. The Companies Code stipulates the manner in which mergers and amalgamations should be effected. It places emphasis on company resolutions that authorize mergers and amalgamations and on the preservation of affected creditors’ rights. Ghanaian courts frown upon the arbitrary treatment of members or shareholders, and ample provision is made for aggrieved persons to apply to the court for redress at different stages of the merger or acquisition process. Foreign enterprises are guaranteed unconditional transferability of profits and dividends through any bank authorized to deal in freely convertible currency, encouraging and securing foreign investment. The transfer of company shares is exempted from all stamp duties and capital gains resulting from mergers, amalgamations and reorganizations are also tax exempt. Under Ghanaian investment law, preferential treatment is given to foreign and Ghanaian joint ventures by guaranteeing lower minimum capital requirements than those required for wholly foreign-owned enterprises. On the whole, mergers and acquisitions in Ghana continue to evolve as the government secures an attractive environment through executive, legislative and judicial activism to attract direct foreign investment and thus improve the economy. Consequently, the local corporate finance market has began to see increasingly complex financial transactions taking place as more international companies elect Ghana as the regional centre for their operations and its courts for dispute resolution issues.

Understanding Schizophrenia Essay examples - 1617 Words

Understanding Schizophrenia When a person hears the word crazy, their first thoughts are probably of symptoms of schizophrenia. Schizophrenia is seen as the ideal case of insanity. The causes of this disease remain unknown, but scientists are constantly searching for answers. Although a cure for schizophrenia is surely far in the future, research and understanding is making more and more progress every day. To find a cure for schizophrenia, scientists must first understand the disease itself. Over the years, professionals have come up with a fairly accurate definition: When a persons thinking, feeling, and behaving are so far from normal so as to interfere with his or her ability to function in everyday life, and delusions,†¦show more content†¦Since not all schizophrenics act alike, professionals have sorted them out into three classic types. The first type is paranoid schizophrenia. Paranoid schizophrenics usually have a single theme or idea on which they focus their delusions and hallucinations. They are constantly afraid that people are out to get them. The second type of schizophrenia is disorganized schizophrenia. Disorganized type schizophrenics show very unorganized behavior. Facial grimaces, extreme withdrawal, and constant health complaints are typical symptoms of this type of schizophrenia. Hallucinations and delusions are symptoms of all types of schizophrenia, but the disorganized schizophrenic also exhibits senseless laughter and silliness. The third type of schizophrenia is catatonic. Someone with catatonic schizophrenia may hold a single position for hours on end. This is called a stupor. Their condition resembles that of suspended animation. Sometimes the person is rigid and hard to move, but at other times may flail around highly excited for no apparent reason. Although, through use of newer medications, catatonic schizophrenia is rare today. Medication has been the most successful treatment by far. Antipsychotic drugs do little for helping the patient understand and deal with various aspects of their illness. Because of this, psychotherapy is absolutely necessary along with medication. Alarmingly, a recent study shows that only a third of schizophrenia patients are getting the correctShow MoreRelatedThe Psychological Understanding Of Schizophrenia2173 Words   |  9 Pagesday, the psychological understanding of the mind and schizophrenia has improved as well. From the beliefs of demons dwelling in the minds of the ancient people to understanding the true psychological understanding of this disorder and how it affects the mind. The treatment differs throughout the ages as ancient doctors and knew little on the disorder now known as schizophrenia, the treatment has varied from killing people to shock therapy today. Even though the understanding has grown there stillRead MoreUnderstanding Schizophrenia Essay2372 Words    |  10 PagesUnderstanding Schizophrenia Schizophrenia, although affecting only one percent of the population, has a direct affect on society today. This disease, if left untreated, poses threat to health care professionals (including psychiatrists), law enforcement personnel, and family members responsible for the care and support of the schizophrenia patient. This paper addresses the causes of schizophrenia and the myths surrounding this complicated ailment, the affect of untreated or misunderstood aspectsRead MoreEssay on Understanding Schizophrenia1698 Words   |  7 Pageseverybody seemed so distant from me. This excerpt describes part of Esse Leete 20-year battle with schizophrenia. She committed herself to leading the fullest life her disease will allow and to educating others about mental illness. 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How Friendship Helps With Your Mental Health - 895 Words

Friendship On March 12, 2016, I was home for the weekend and I went over to my grandparent’s house to visit and have dinner with them. While we were eating dinner I asked my grandmother several questions about her friendships. One of the questions that came up was: why do you think that friendships are important? Her response was: â€Å"A friendship helps with your mental health. By not having any friends you would be very depressed and not have anybody to do anything with† (personal communication, March 12, 2016). This is very true when thinking about friendships. One s life would be so boring if they just sat at home all day long. If nobody in the world had friends, then there would not be anything to make TV shows about, books to write, or things to do with other. Each person would just walk around this world in depression. Another question that was asked was: why do you think it is important to have a best friend? My grandmother’s response was: â€Å"There are some th ings that you need to talk to your best friend about that you cannot talk to your family about first, like you might need advice about how to break some news to your family, or you might need them to take you somewhere if nobody in your family is available to do so† (personal communication, March 12, 2016). One would not be able to make it throughout life without a best friend who was there to stand by them when their family could not make it. That is what best friends are for. Best friends have all of theShow MoreRelatedPersuasive Essay Football759 Words   |  4 Pagesthe risks and the unsafe label, I would allow my child to play football because it promotes health, builds friendships, and helps gain toughness. The first reason why I would let my child play football is because it promotes health. Football is a physically demanding sport where you need strength, agility, endurance, and hand-eye coordination. 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Asian Americans And Asian American Students Essay - 999 Words

Asian-American students are often assumed to be the ones who finish on top academically. Due to the amount of high-ranking Asian-American students in schools throughout the United States, a clichà © stereotype has been developed claiming all Asian students are â€Å"whiz kids.† The culture which Asian individuals practice differs by region however, majority of Asian individuals celebrate a different culture than mainstream Americans. I interviewed Susan, an Asian-American female who was born to an Asian mother, and an American father. Kira, Susan’s mother, and her three sibling were raised in Illinois by their Asian parents. Kira’s parents moved to the United States in 1964 to begin their new life together. In 1994, the first grandchild was born into the family, Susan. Soon after she was born, her grandparents began planning her future; she would be a school teacher, just like her mother. I was curious as to why an occupation in education was so important to her family. â€Å"The Chinese culture values education more than any other culture I have met,† said Susan (personal communication, September 21, 2015). â€Å"In China,† Susan added, â€Å"women are most often not awarded for their outstanding abilities and accomplishments, so they desperately wanted me to get into the field of education† (Susan K., personal communication, September 21, 2015). Susan claimed that as she got older, she disliked going to school. â€Å"I loved going to school when I was a little kid,† She explained, â€Å"But as I gotShow MoreRelatedAcademic Stereotypes of Asian-American Students Essay examples813 Words   |  4 Pagesschools throughout the country. Asian students as young as seven years olds are labeled as gifted and enrolled in various accelerate programs to further develop their talents. Certainly, most of these students are deserving of the honorable recognition. However, many skeptics do question how many of them are viewed as exceptional students based upon the stereotype: they are genetically smarter than their non-Asian peers. For many researchers, the notion of Asian students are hereditary more intelligentRead MoreThe Stereotype Of A Smart High Achieving Asian American Student3683 Words   |  15 Pagescommonly associated with Asian Americans as they are assumed to achieve highly in academics which will thus propel them up the economic ladder. The stereotype of a smart high achieving Asian American student is fueled by other stereotypes such as Asians being good at math and that they all go to college. The intelligence stereotypes created by society are the reason why some individuals feel pressured to succeed and feel as if failure is not as option. 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Overseas, you can see the juxtaposition of American pop culture on the older modes of Asian thought and society. Here, New Age religions find new excuses in Asian religions and philosophies and Anime is appears regularly on Saturday morning cartoons. Often, this juxtaposition becomes turbulentRead MoreAsian American Stereotypes822 Words   |  4 PagesAsian American Stereotype Every day we all suffer from stereotypes most get affected or not. Depending on your race involves to the expectations others expect from you. Asian American education and success stereotypes that are negative or positive raises the stress among them compared to other race. This topic fulfill the essay requirements since it is a social issue that Asian Americans go through every day. The whole point of Asian American stereotypes is that everyone expects a lot from theRead MoreCriminalization and the Perceived Deviance of Latinos970 Words   |  4 PagesThere are different context in which labeling has specifically been used in the readings; however, there is an overarching theme in that the labels serve to undermine and to subjugate Latinos, Asian Americans and African Americans. The readings primarily focused on the criminalization and the perceived deviance of Latinos and Latino youth. In the book Punished by Victor Rios, he presents the argument that the consistent labeling by every state run institution that cast young Latinos as criminalsRead MoreAfrican Americans And Asian Americans1421 Words   |  6 Pagesused most often to describe Asian Americans, group seen as having attained economic and education success at significantly higher rates than that of other minority groups. Although first coined by sociologist William Petersen in 1966, the term â€Å"model minority† was not popularized and nationalized as a reference to Asian Americans through radio and television outlets, and even some academics until the mid-1970s. The term was meant to convey a stereotype that Asian Americans were becoming economically

Quantitative Risk Techniques and Concepts †Free Samples to Students

Question: Discuss about the Quantitative Risk Techniques and Concepts. Answer: Introduction: Managing information within an organisation is the most crucial part of the management. Information flow is crucial for conveying the message from the higher authority to the grassroots level employee. It is also important to be mentioned here that in the context of the contemporary social set up, information can be categorised into two kids namely physical as well as electronic. Now for the proper flow of the information the organisation structure as well as environment also responsible. Cloud computing has been becoming extremely popular across all organisations. The availability of information and the access to information from anywhere, anytime and through multiple devices has been lucrative. However, there are several risks associated with a cloud migration project. In this report the focus will be on a cloud migration project and the report will illustrate the risks that are associated with such project and how these risks are to be communicated. Amburst et al. (2009) stated that elasticity is one of the major benefits of cloud computing and as it saves infrastructure costs thus is beneficial for smaller organisations. In the recent past organisations like twitter.com have been capable of extensive growth due to cloud computing. This report is based on the case study of a UK based SME which provides IT support services to the Oil and Gas Industry. The organisation is focused on switching over to Amazon EC2 platform. The organisation is providing services of data acquisition and this will be shifted to real time data acquisition and the following diagram illustrates how the organisation plans to shift to a cloud platform The following is the system overview for this information system Now the major concern is the cost versus the benefits. The following illustrates the same It can be seen from the above tables that this cloud project would be beneficial for the organisation but there would be risks associated with this project as the cloud migration would lead to newer technologies. The next section will analyse the risks and thereby provide the recommendations A formal risk assessment: Risk assessment is a five step process that ensures the identification of the risky situation and its management for security of both the organisation as well as the people involved in the situation. Step one of the risk management process comprises identification of risk; the risk can be defined as anything that might cause any sorts of damage to system (Anand and Goyal, 2009, p.451). In the given case, information leak is the main risk that can id addressed in the given process. In this step the contextual organisation need to identify the way that makes the information vulnerable. In the second step the risk management process identify the vulnerable group who are at risk (Peppard and Ward, 2016, p .113). In the first stage the following are the risk areas that have been identified This step ensures who or what are harmed in the due course of the information breach. Until the person or situation or the business process in risk are identified then; it is next to impossible to eradicate the risk and make the process hazard free (Anand and Goyal, 2009, p.451). This stage requires the development of a risk matrix and following is the risk matrix for this project. The risk matrix has been developed according to the risks identified Vulnerability Name Risk Description Threat Source Existing Controls Likelihood of Occurrence Impact Severity Risk Level Cloud provider security risk Information is compromised Adverserial, accidental, structural, environmental, etc. None High High High The cloud provider does not have a proper administrative control Confidentiality is compromised Adverserial, accidental, structural, environmental, etc. None High High High Unauthorized access Intrusion Adversarial outsider (e.g., hacker) Information sent to cloud provider is encrypted in transit Low High Low Password is weak Hacking Adversarial insider or outsider Vendor default password and no administrative password policy Moderate High Moderate Unlimited password attempts for cloud services Hacking Adversarial outsider (e.g., hacker) Vendor default does not limit password attempts Moderate High Moderate In the third step the assessment of the risks is done and the appropriate action is taken to eradicate the risk. In order to do this the whole process of risk management is segmented and each of the tasks is separately managed. So, the entire risk can be eliminated from the root (Bromiley et al. 2015, p.270). In the Step 4 the risk is managed but the contextual risk managementpersonnelneed make a record of the findings for the future purpose. So in case the same problem arises in future, it can be managed with proper efficiency and with less time (Stancich and Curry, 2016, p.251). It is also seen that the risky sometimes snowballs its effects as the time flows. Right decision in right time is able to minimise the effects of the risky situation and manage it properly. Furthermore, if previous experience regarding a risky situation is recorded them this will help to make the decision more swiftly and accurately without losing valuable. Ultimately in the final step that is step 5 the evaluation or revision of the entire risk assessment is done (Marcelino-Sdaba et al. 2014, p.334). This will reveal whether the process that is used for the risk management is effective or not. However, it is also important to keep a record of the entire process so appropriate action can be taken and the loss is gauges and managed in appropriate time (Lederer, 2013). Based on the above the organisation needs to follow the flowchart that has been illustrated below so as to ensure that the cloud migration is successful Communication of the risk: Once the risk is determined there needs to be effective communication of the risk so that the risk can be mitigated. In this case the following will be the risk communication The different communication risk that prevails in the contextual organisation is poor development practices which risk the organisational culture. According to the famous saying rolling stone do not acquire any moss (Lederer, 2013). Hence, development is an inevitable process for the contextual organisation. In the due course of the development it is crucial to follow the proper developmental process, poor developmental process for maintaining the communication is hazardous for the growth of the organisation. Now the next risky circumstances are the impropersuppositionsin the context of the requirements of the system. This system is used for managing the intranet of the contextual organisation. Intranet is helpful for managing communicational gap prevails within an organisation. The next problem that can arise while using the intranet system is the poor user interface (Stancich and Curry, 2016, p.251). Faulty hardware is another major risk involved for the communication establishment in the organisation. the management needs to verify the hardware compatibility with the current system for the identification of any fault in the hardware system. Periodic maintenance and inspection is needed for the assessment of the hardware condition and identification of the need for change or replaces (Galliers and Leidner, 2014, p.76). Inadequate user training or user error could a significant factor for communication failure in the contextual organisation (Marcelino-Sdaba et al. 2014, p.334). Therefore, user assessment and non-allowance of users with proper training while operating the hardware and software could help to establish the communication in the organisation (McNeil et al. 2015, p. 89). Lack of operational knowledge indulges a scope of faulty handling process which could create issues in the hardware and software. This would create a hindrance in the communication procedure of the organisation (Peppard and Ward, 2016, p .113). Poor fit between systems and organization is the very significant factor for communication failure in the contextual organisation (Teller et al. 2014, p.69). The organisational structure and work process is needed to be identified for the understanding of the communication requirement between the departments and the employees. Unclear understanding of the organisational structure and key nodes of the organisation would create a gap between the communication network established and the actual organisational structure (Bromiley et al. 2015, p.270). Therefore it creates a point where no communication could be established in the organisation. therefore proper understating of the organisation and identification of the nodes will create a clear picture of the organisation and successful establishment of the communication has been done (Beske and Seuring, 2014, p.327.). Recommendation Understanding of the system requirement: The management needs to evaluate the organisational structure and hardware and software requirement in accordance with the organisational structure for developing an outline of the system requirement.Therefore identification of the system required would help to develop a communication structure suitable for the organisation (Marcelino-Sdaba et al. 2014, p.334). Identification of the system suitable for the organisation: this is another important step for establishing effective communication system in the organisation. Suitable hardware and software need to be identified for the organisation and implementation of the proper system components would be helpful for identification of the communication network (Anand and Goyal, 2009, p.451) . Proper maintenance and inspection: periodic maintenance and inspection process need to be implemented for the understanding of the faulty hardware and software installed in the system which may cause communication interruption (Marcelino-Sdaba et al. 2014, p.334). Therefore, in this method communication barriers could be removed and an establishment of the smooth communication network could be established (Stancich and Curry, 2016, p.251). Proper training staffs and employees need to be trained and briefed on the newly installed communication system for avoiding faulty handling process and hardware damage (Marcelino-Sdaba et al. 2014, p.334). Therefore, periodic training sessions and inspection would help to maintain the proper communication network within the contextual organisation (Marcelino-Sdaba et al. 2014, p.334). Reference list: Galliers, R.D. and Leidner, D.E. eds., 2014.Strategic information management: challenges and strategies in managing information systems. Routledge. McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative risk management: Concepts, techniques and tools. Princeton university press. Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a digital strategy. John Wiley Sons. Teller, J., Kock, A. and Gemnden, H.G., 2014. Risk management in project portfolios is more than managing project risks: A contingency perspective on risk management. Project Management Journal, 45(4), pp.67-80. Bromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), pp.265-276. Beske, P. and Seuring, S., 2014. Putting sustainability into supply chain management. Supply Chain Management: an international journal, 19(3), pp.322-331. Marcelino-Sdaba, S., Prez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International Journal of Project Management, 32(2), pp.327-340. Anand, K.S. and Goyal, M., 2009. Strategic information management under leakage in a supply chain. Management Science, 55(3), pp.438-452. Stancich, L., and Curry, A. 2016. The intranetan inherent constituent of strategic information management. International journal of information management, pp.249-268. Lederer, A.L., 2013. The Information Systems Planning Process Meeting the challenges of information systems planning.Strategic Information Management,216.