Financial risk management Essay Example | Topics and Well Written Essays - 250 words

Financial risk management - Essay Example man Sachs bank saw its profits decline due significant losses being realized from large subprime write downs which were followed by mortgage crisis meaning beneficiaries were unable to pay. The short selling of subprime mortgage securities to Lehman Brothers is blamed to have worsened the financial crisis to the detriment of both institutions. As a result, the bank approached the federal government for a bailout under the troubled asset relief programme (TARP). Since the loan came with high interest rates and short repayment period, the bank’s financial condition worsened and become highly geared. In summary, Goldman Sachs financial crisis can be classified as threefold, that is, financial malpractices among traders and top executives in trading mortgage securities (operational risk), mortgage industry crisis/ risks and high financial leverage. Risk management theories that can be used to explain the crisis an offer insights into possible solutions are discussed hereunder. Weinberg (2007) noted that the bank relied on incomes from trading to maintain its profit growth which was risky. Therefore, the bank should have maintained a prudent model to monitor the value at risk (VaR) for securities being traded. VaR model shows the maximum estimated loss for a portfolio factoring market related risks at a given time horizon (Esch, Kieffer and Lopez, 2005). Capital Asset Pricing Model (CAPM) would also have helped the bank to understand the behavior of capital markets and possibilities of excess, negative and optimal return on a portfolio by analyzing the securities market line (Elton et al., 2010). Brownian motion model of financial risk management though highlights useful risk strategies useful under normal circumstances was found to fail in providing rational understanding of financial turmoil (Borma and Sharma, 2011). Boma, S. & Sharma, D. (2011). â€Å" How much trust should risk managers place on â€Å"Brownian Motions† of financial markets?† International Journal

Syriana Film assignment Example | Topics and Well Written Essays - 500 words

Syriana Film - Assignment Example differing viewpoints to underline the main themes of the film, namely; international corruption, cartels and the issue of corporate social responsibility. Gaghan described his inspiration for the film beginning with his work on Traffic3, where he felt that America’s dependency on foreign oil had distinct similarities with drug addiction. Indeed, a fundamental issue reiterated in Syriana is how the role of oil is central to US policy towards the Middle East and the US position within the contemporary framework of international relations. In turn, the relationship between Matt Damon’s character Bryan Woodman and Prince Nasir also presents a different insight into Middle Eastern politics through Prince Nasir’s frustration at American control in the area and his desire to undertake national reform and develop the economy for sustainability in the long term. Additionally, the increasing work of Bryan Woodman’s character with the Prince comes at the sacrifice of his marriage due to the death of Bryan’s son. Bryan’s payment of $175 million from the Prince and role as economic advisor causes his wife to accuse him of exploiting his son’s death for commercial gain. To this end, the death of Bryan’s son and sacrifice of his marriage is arguably symbolic of the central theme of Syriana regarding the interrelationship between oil, globalisation and the balance of power in international relations. For example, it is submitted that the oil industry symbolises the sacrifice of ethical concepts of morality as the control of oil in the Middle East is seen as fundamental to the balance of power within the international framework. This is highlighted by the American unease with Prince Nasir giving a natural gas drilling rights contract to China. The three central stories that interweave throughout the film purposively depict three very different men operating over various continents to highlight the long term and immediate consequences of pursuing wealth and

Human Resource Management Literature review Example | Topics and Well Written Essays - 1500 words

Human Resource Management - Literature review Example An organization manages its talent through the HR and this is how both HR and talent management are linked. HR has a responsibility of ensuring that the employees work for the achievement of the organizational goals. In order to manage the organizations talent, HR needs to come up with effective employee policies, etc (BRATTON, J., & GOLD, J. 2000; CHEESE, P., THOMAS, R. J., & CRAIG, E. 2008) There are different scholarly studies that discuss about the role of HR in the talent management and the organizational performance. One of the studies discusses about the different phases that occurred during the development of the theory of HR and performance. There are basically five phases that took place during the development of the theory of HR. The beginning phase was when the HR was actually associated with the performance of the company. There was a link made between the HR practices and the strategies of the businesses. The second phase was empiricism, when statistical surveys were us ed to support the development of the theory of HR. The phase was successful in establishing a positive relation between the HR and the organizations performance. ... The study links this theory to the current role of the HR. It also discusses about the challenges faced by the HR theory. The scope of the theory is too narrow. It argues that the workforce motivation and commitment are an important aspect of the increasing sophistication. It states that keeping in mind the respective workforce HR managers need to come up with the best practices to have the most positive outcomes and to have the greatest impact on performance. The study has some loopholes. It does not suggest how the HR managers can come up with good practices. It does not suggest exactly what models and research methods should be used to understand the impact of HR theory on the performance. It also does not suggest ways of talent management to bring out the best out of employees (GUEST.D 2010) Another study was conducted which focused on the Human Resource Management and the Corporate Performance in the UK. The study basically focused on that how human resource management can help the corporations to achieve competitive advantage through its workforce. It shows a clear relationship between the human resource management and performance but the study fails to establish the level of extent to which the HRM results in a higher performance of the corporations. During the course of this study it was found out that greater use of HR practices results in lower labor turnover higher profit contribution per employee but it does not ensure a greater productivity of the employees. There were 366 UK based companies that were studied by the researchers to establish the above results (GUEST.D, MICHIE.J, CONWAY.N & SHEEHAN.M 2003) Talent management is the most important aspect of the HR

Self Reflection to Improve Teaching Assignment Example | Topics and Well Written Essays - 750 words

Self Reflection to Improve Teaching - Assignment Example Indeed, conducting regular staff evaluation through the learners means that teaching effectiveness is highly valued. As a diabetic instructor, the feedback that I may obtain from students would be vital in providing information on areas that I need to improve on, and the best teaching practice that can provide students with the best learning experiences. Notably, teaching methods and the desired outcome plays a significant role in improving the learning and teaching climate. More so, I believe that the rating given by the students should also be of much importance to the faculty, since it can form the basis of making significant changes. According to cashin (1990), â€Å"Student evaluation forms the beginning of instructor’s journey toward improvement and not the end† (p. 29). This is because student rating do not provide complete solutions, as it raises some questions regarding its effectiveness. As a diabetic class instructor, I should reflect on the process of learni ng to establish the best subject matter to administer as well as what is necessary to teach, which could significantly improve my class teaching. Having established what to offer student in terms of topic on diabetes, I should also plan my class by creating a conceptual bridge that tries to narrow the gap between the student and the instructors’ levels of comprehension regarding the topic. As observed by Way (n.d.), student evaluation to improve on teaching should lead to the establishment of the subject matter that is being taught, as well as what is necessary to teach. Nonetheless, as an instructor, I should consider reflecting on the goals that I would like to achieve by asking myself the following questions: 1. What do I expect to accomplish in this diabetic class? 2. How well can I accomplish the goal set out for this class? Such questions will help find a solution to students’ comments. However, both instructor’s goals and students’ observations sho uld be conceptualized to achieve harmony in what each of them is seeking to achieve in a diabetic class. Part 2: Steps to ensure I am a reflective educator As a reflective educator, I believe that I need to put emphasis on the following issues, which if tackled perfectly will help meet my teaching goals. 1. Establish my previous failures- This will help to avoid repeating mistakes by carrying out investigations on how best to do things the right way, in the future 2. Setting up the teaching goals- As a diabetic class teacher, I should establish what my students need to know and then plan on how to administer the course content in a more understandable way. 3. Being proactive- I should be overly proactive when administering the course through consistent research in order to obtain the most current research findings, which could be of much help to the class participants. 4. I should understand the varying needs of my students- This means that I should establish the students who need m ore attention so that more time can be dedicated to them to ensure they understand the course content in a better way. 5. Evaluate myself from time to time- I should keep on comparing my performance with that of my fellow instructors to find out how best I do compare to them. 6. Embrace change- I should ensure that I am welcoming to change especially on research since through invention of more advanced research methodologies; one can be

Environmental Problems, Mitigation Measures and Effectiveness Essay

Environmental Problems, Mitigation Measures and Effectiveness - Essay Example The other anthropogenic activity is destruction of the natural environment by unsustainable use of resources, a factor that has also resulted in world climate changes (Dalby, 2002: 44). Atmospheric pollution is the main cause of global warming; it results from the accumulation of carbon IV oxide and other greenhouse gases in the atmosphere, trapping heat from the sun in the earth’s atmosphere. Greenhouse gases are by-products of industrial combustion, which means that the extent to which a country contributes to global warming by these gases depends on the level of industrialization; a high level of industrialisation causes increased consumption of fossil fossils. Fossil fuels like natural gas, oil and its products have a high carbon content that is released in huge quantities and at a faster rate than can be sequestered by natural carbon sinks like forests and oceans. In this case, first world nations and rapidly developing third world nations are the main contributing agents to environmental degradation by industrial pollution. On the other hand, environmental degradation can occur due to unsustainable use of natural resources like forests and water bodies; this is a serious problem in developing countries (Adil, 2005: 315). The economies of these countries are primarily agricultural based; the high rate of population growth necessitates high agricultural production for food security. However, deteriorating climatic conditions have reduced the productivity of land in these areas, forcing people to clear more forests for agricultural purposes. Consequently, forests that play a role in precipitation are destroyed, and the areas receive less rainfall; this has a negative effect on agricultural productivity, which forces further clearance of forested areas. This cycle goes on and on until many of productive lands have become barren, especially due to poor farming practices and the dependence on rains for agriculture in these countries. Some of the effects of environmental degradation include loss of biodiversity; decreasing ice coverage on mountain tops and poles that pose a threat to sustenance of the hydrological cycle; and desertification by loss of vegetation cover. Moreover, it causes climatic changes like extreme weather conditions whereby dry areas get drier, hot areas hotter, and wet areas wetter; and a rise in sea level that destroys sceneries and property (Barry and Eckersley, 2005: 255). Based on the economic implications of these changes and their threat to survival of life in the planet, governments and international organisations have taken measures to mitigate the effects of the environmental problems that result from these changes (Carter, 2001: 282). These measures target the two main aspects of environmental degradation including pollution and unsustainable use of resources; there have been some level of success though with some limitations too. This paper discusses the measures taken by governments and internationa l organisations; the extent of success of these interventions; the limitations facing effective implementation of interventions; and the consequences of these measures. Intervention Measures Governments have come up with environmental policies that aim at encouraging adoption of environmentally sustainable approaches by their citizens. For instance,

Late-2000s recession Essay Example for Free

Late-2000s recession Essay European Tour Operators have managed to achieve a strong position in the tourism industry. The two biggest ones, TUI Travel and Thomas Cook, have a large market share. However, in the latter part of the decade, between 2007 and 2010 the industry has experienced a downturn because of the turbulent environment which was created new threats and modified the competitive forces. Political: Taxation Policies on travel methods by different countries has a large impact on the tourism industry, governments provide some subsidies and tax exemptions in their countries in order to promote the right tourism. Visas into certain countries can also cause people to stop travelling there as corrupt countries can charge large amounts of money to gain them. Political instability can not only affect the country in which it is but also neighbouring countries. The same also happens when terrorist acts happen on a country or are from a country. Economical: Globalisation of travel companies and airlines has meant that many countries can provide services that they could not before do to cultural knowledge. With companies being global there are also economies of scale to be gained. TUI’s vertical and horizontal integration makes them very competitive and they provide services across all holidaying experiences. Exchange rates area large part to the amount of tourists travelling from each country. If one countries currency becomes weaker than others it is more likely to become a holiday destination due to a foreseen ‘value for money’. This affects the company less as they have a stronger position than the customer in that they can charge the customer depending on the country with the stronger currency. The recession has also caused some issues within the industry as there have been some companies that have not been successful. TUI managed to make it

The Epidemiology of Infectious Diseases

The Epidemiology of Infectious Diseases Infectious diseases have always existed and have had a major impact on human development. It is widely believed that our immune systems and genetic makeup have evolved over many years under the selective pressure of potentially fatal diseases, such as malaria (Haldane 1948; Weatherall 1996). In addition, epidemics of infectious diseases have decimated entire communities, and have sometimes changed the course of history. Examples In Europe in the 14th Century, there were about 25 million deaths from bubonic plague out of a population of approximately 100 million. In 1520 the Aztecs lost about half of their population of 3.5 million from smallpox, introduced by the more immune invading Spaniards. This has been proposed as an important feature in the defeat of the Aztecs by the Spanish invaders. In 1919, after the First World War, the global epidemics of influenza killed an estimated 20 million people during one year more than died as a result of the war. During the 20th century, important advances in the prevention and control of many infectious diseases were achieved with the development of vaccines and antibiotic drugs. This has sometimes created the impression that infectious diseases are no longer a major threat to public health. However, this is far from being the case. The following is a quote from Dr Gro Harlem Brundtland, the Director-General of the World Health Organization: Illness and death from infectious diseases can be, in most cases, avoided at an affordable cost. It is in everyones interest that these obstacles to development be removed. Because of drug resistance, increased travel and the emergence of new diseases, we may only have a limited time in which to make rapid progress. In the following, you will see some of the reasons why infectious diseases are still an important challenge to public health at the beginning of the 21st century. Mortality Infectious diseases are a leading cause of global mortality, causing more than 13 million deaths a year. They are still the main cause of death among children under 5 and the main single cause of premature death in persons under the age of 45. Morbidity Infectious diseases are also a major cause of global morbidity. They are responsible for a huge amount of disability and suffering in the world as measured in DALYs. DALY Disability Adjusted Life Years, a measure of disease burden. It includes years of life lost due to premature death, and years of healthy life lost due disability or illness. Recurring episodes of illness and long-term disability have a major economic impact on the developing countries most affected by infectious diseases. Role in chronic disease Infectious diseases are increasingly being implicated in the pathogenesis of many important diseases that were previously thought to have a non-infectious origin. Cervical cancer is now known to be associated with human papillomavirus infection. Cervical cancer is the sixth most common cancer worldwide and the most common cancer in women in many developing countries. In the past two decades, evidence has grown on the role of Helicobacter pylori infection in gastritis, duodenal ulcer, gastric ulcer, gastric cancer and gastric-mucosa-associated lymphoid tissue (MALT) lymphoma. Chronic infection with hepatitis B or C can cause primary hepatocellular carcinoma (HCC). HCC is among the most common cancers in many parts of Africa and Asia. Potential for epidemic spread A specific feature of infectious diseases is their ability to be transmitted between individuals. This can result in the occurrence of large outbreaks. Between 1997-2000 there were more than 600 outbreaks of disease considered by the WHO to be of international importance. Outbreak The term used to describe a localised epidemic, e.g. in a village, town or city. The term large outbreak is increasingly being used instead of epidemic, as it is less emotive. With increasing urbanisation and international travel, the world is becoming a smaller place, and the routes for transmission of infection are increasing. Aeroplane journeys enable individuals to travel within the incubation period of most infectious diseases. This allows infections to spread to distant places within very short periods of time. An example of this is the annual global dispersal of meningococcal meningitis by pilgrims returning from the Haj Muslim religious festival (Saudi Arabia). Newly emerging diseases Over the past three decades, over 30 new infectious diseases and pathogens have been identified for the first time in humans. These include diseases with a very high case-fatality rate, such as new variant Creutzfeldt-Jacob disease (nvCJD) and Ebola haemorrhagic fever. Some of these new infections are highly prevalent, for example Hepatitis C and rotavirus. Other infections, such as HIV, have rapidly spread around the world. New variant Creutzfeldt-Jacob disease (nvCJD) A new variant of Creutzfeldt-Jakob disease was described in the United Kingdom in 1996. The agent is considered to be the same as that causing bovine spongiform encephalopathy, a disease that emerged in the 1980s and affected thousands of cattle in the United Kingdom and other, mainly European countries. Ebola The first outbreaks of Ebola haemorrhagic fever occurred in 1976 and the discovery of the virus was reported in 1977. Cases reported to WHO up to June 1997 indicated a case-fatality rate of over 70%. A major outbreak in Uganda in 2000 was thought to be associated with spread of the virus by soldiers moving across the country. Hepatitis C This virus was identified in 1989, and is now known to be the most common cause of post-transfusion hepatitis worldwide. So far, up to 3% of the world population are estimated to be infected, among whom 170 million are chronic carriers at risk of developing liver cirrhosis and/or liver cancer. Rotavirus First recognised in 1973, rotavirus is the most common cause of childhood diarrhoea worldwide. 20% of all diarrhoeal deaths and 5% of all deaths in under-5 year olds are due to rotavirus. HIV Although the Acquired Immune Deficiency Syndrome (AIDS) was recognised in 1981, the causal virus, HIV, was first isolated in 1983. It is estimated that, since the start of the epidemic, 30.6 million people worldwide have become HIV-infected and nearly 12 million have died from AIDS or AIDS-related diseases. Re-emerging diseases In addition to the emergence of new infectious diseases, many old diseases that had previously been under control are starting to appear in increased numbers or in previously unaffected populations. Resurgence of infectious diseases can occur because of any of the following reasons: changes in social or environmental conditions, failure to maintain immunisation programmes, increased drug resistance Drug resistance is currently an increasing problem for a number of diseases worldwide, and we are often in a race to develop new treatments faster than the pathogens can develop resistance. Example Since the mid-1980s there has been a major resurgence of diphtheria in several countries of Eastern Europe, which had previously been progressing towards elimination of the disease. In 1993, 15,211 diphtheria cases were reported in Russia and 2,987 cases in Ukraine. The main reason for the return of diphtheria in these countries was a decreased immunisation coverage due to an irregular supply of vaccines and large-scale population movements (Galazka et al 1995). Example Mortality and morbidity rates from tuberculosis (TB) in industrialised countries declined during most of the 20th century. However, from the mid-1980s onwards, many of these countries have seen an important increase in the incidence of TB. This is mainly due to a decline in TB control programmes, the increased incidence of multi-drug resistance TB and the effect of the HIV epidemic (Grange 1998). Potential for prevention and control The mechanisms involved in many infectious diseases are well understood, from the molecular aspects of the infectious agent to the demographic characteristics of host populations. This level of understanding has enabled potentially very effective prevention and control measures to be developed for some infectious diseases. With efficient intervention strategies and the advent of national public health agencies, elimination of specific infectious diseases has become feasible. In some cases, there has even been the possibility (or reality) of global eradication. Following the successful WHO programme for the global eradication of smallpox through vaccination, the last naturally acquired case of this disease occurred in October 1977 in Somalia. The countries of the Western Hemisphere have set a target for the elimination of measles by the end of the year 2005. Polio and guineaworm are now also on the verge of eradication, after intensive, globally co-ordinated programmes. Strategies to immunise millions of children on the same day have resulted in few countries now reporting cases due to wild poliovirus. Infectious disease epidemiology In epidemiology, we are interested in describing and explaining the distribution of diseases in populations. The distribution of an infectious disease depends on the transmission of the infectious agent within the host population. This is a dynamic process, which is influenced by characteristics of the specific infectious agent, characteristics of the host population and characteristics of the relationship between the infectious agent and the host.