Bubonic Plague - 1154 Words

Bubonic plague is believed to have brought the Byzantine empire to its knees in the 6th century. This is the first ever documented record of bubonic plague in human history. But the fact that bubonic plague continues to afflict human population even today is a matter of concern. Your bubonic plague research paper would revolve around the premise of it being a deadly disease, but we assure you that we won’t scare you by the facts. Bubonic plague is typically differentiated from other infections because of its roots in the bacteria, Yersinia pestis or Pastuerella pestis. The bacteria typically infects the spleen, lungs, kidneys and brain. It is spread by virtue of rats and fleas. The staff at ProfEssays.com could as Help with Bubonic Plague†¦show more content†¦All research papers are written by native citizens so that you get the authentic information, and nothing else. Bubonic plague could even be detrimental to the biodiversity. Your buboinic plague research paper could tell you of all the harmful effects the bacteria is known to have on several species like the black-footed ferret. The ecological balance is hampered because species of prairie dog depend on the ferret. Endangered species like the black-footed ferret are thrown to the verge of extinction by virtue of an epidemic of bubonic plague. A biodiversity research paper could tell you of the threats to your nation’s biodiversity. Bubonic plague is believed to have originated in Gobi desert, Asia in the 6th century. It spread all over the continent by fleas and through other draft animals. Trade routes provided avenues for transmission to different parts of Europe and Africa. There has always been the possibility of the Yersinia pestis being used as a biological weapon, although doctors and scientists dismiss the possibility. A terrorism research paper could spell out the reasons for this. Looking for an exceptional company to do some custom writing for you? Look no further than ProfEssays.com! You simply place an order with the writing instructions you have been given, and before you know it, your essay or term paper, completely finished and unique, will be completed and sent back to you. The Black Death swept through Europe andShow MoreRelatedThe Plague Of The Bubonic Plague896 Words   |  4 PagesBlack Death The Bubonic Plague was likely the first semi-global pandemic that rightfully merits the name which means affecting all people. The period of time in which the disease wreaked havoc was also known as the â€Å"Black Death. Alexandere Yersin was a French bacteriologist and discovered the bacteria in Hong Kong This diabolical disease is characterized by both positive and negative outcomes for the few people that managed to survive the plague. The total number of people who died subsequentlyRead MoreThe Plague Of The Bubonic Plague1848 Words   |  8 Pages The Bubonic Plague killed over twenty-five million people during the Elizabethan Era (David Perlin, PhD and Ann Cohen). â€Å"The origins of the Black Death can be traced back to the Gobi Desert of Mongolia in the 1320’s (Ed. Geoffrey J. et al).† The Bubonic Plague has picked up many nicknames. For example, it has been called â€Å"The Black Death,† and â€Å"one of the four horsemen of the apocalypseâ €  (Ed. Geoffrey J. et al). The Bubonic Plague was very prominent during its time with many people’s lives beingRead MoreThe Plague Of The Bubonic Plague1426 Words   |  6 PagesThe plague was a catastrophic time in history, and happened more than once. It took millions and millions of people’s lives. It destroyed cities and countries, and many people suffered from it. What is the plague? The plague or referred to as the Black Death, according to the CDC (2015), â€Å"is a disease that affects humans and other mammals and caused by the Yersinia pestis bacteria. Humans usually get plague after being bitten by a rodent flea that is carrying the plague bacterium or by handlingRead MoreBubonic Plague2091 Words   |  9 Pageshttp://ponderosa-pine.uoregon.edu/students/Janis/menu.html Abstract Bubonic plague has had a major impact on the history of the world. Caused by the bacterium, Yersinia pestis, and transmitted by fleas often found on rats, bubonic plague has killed over 50 million people over the centuries. Burrowing rodent populations across the world keep the disease present in the world today. Outbreaks, though often small, still occur in many places. The use of antibiotics and increased scientific knowledgeRead MoreThe Plague Of Bubonic Plague1714 Words   |  7 Pagescharacteristics. The diffusion, history, and cure are just a couple universal aspects that contribute to the well known, yet unforgiving disease known as the Bubonic Plague. The Bubonic Plague diffused to many people during its time of dominance. To start, the Bubonic Plague is transmitted to other living organisms in a distinct way. The plague bacteria circulates among different populations of certain rodents without causing an excessive amount of rodent die-off (â€Å"Centers for Disease Control andRead MoreThe Plague Of The Bubonic Plague825 Words   |  4 PagesThe Plague Discussion Questions The Black Death was an epizootic bubonic plague, a disease caused by the bacterium of rodents known as Yersinia pestis. The bubonic plague overwhelming effects of European history. The Black Death was considered one of the most â€Å"devastating pandemics† in human history. Whom Did the Black Death Affect The Black death affected mostly Europe. â€Å"The disastrous mortal disease known as the Black Death spread across Europe in the years 1346-53.† (Paragraph 1) â€Å"By the endRead MoreThe Plague Of The Bubonic Plague975 Words   |  4 PagesThe Bubonic plague, also known as the Black Death, was a severe outbreak of disease that spread in Europe in the 14th century from 1346-1353. The disease spread faster then originally expected of killing only twenty or thirty percent but killed 60 percent of Europe s population ( Benedictow). It is believed the population of Europe was around eighty million and that would add up to be fifty million deaths. It was a horrific death for one to experience and can still be found in the world todayRead MoreThe Plague Of Bubonic Plague945 Words   |  4 Pages Essays 3. The bubonic plague was a devastating disease that rapidly swept across Europe. Also known as the Black Death, the plague spread from port to port and started to wipe out entire civilizations. All of Europe was eventually contaminated, with over two-thirds of the population dieing to the infectious disease. Believed to have started in 1346 when the Mongol armies overtook the Genoese trading outpost of Caffa on the Black Sea, over half the soldiers on the boat returned dead. The quicknessRead MoreThe Plague Of The Bubonic Plague1938 Words   |  8 PagesBlack Plague DBQ   Ã‚  Ã‚   The Bubonic Plague or Black Plague devastated Europe in the fifteenth through eighteenth centuries killing anywhere from twenty to twenty-five million people or about one-third of the continent’s population. At the time, medical knowledge was not competent for understanding why the deadly pathogen was spreading; therefore, the plague radiated like wildfire. The Europeans believed that the plague was a sort of divine punishment for the sins in which they had committed, and theyRead MoreThe Bubonic Plague Essay1463 Words   |  6 PagesThe Bubonic Plague Introduction Plague, was a term that was applied in the Middle Ages to all fatal epidemic diseases, but now it is only applied to an acute, infectious, contagious disease of rodents and humans, caused by a short, thin, gram-negative bacillus. In humans, plague occurs in three forms: bubonic plague, pneumonic plague, and septicemic plague. The best known form is the bubonic plague and it is named after buboes, or enlarged, inflamed lymph nodes, which are characteristics

Analysis Of John Fowles s The Magus - 1739 Words

A written piece of literature means nothings without the reader. If a story is never read or interpreted by someone, then it means nothing at all. Only when a piece of literature is read and given a response does it mean anything. The role of the reader is essential to the meaning of a text, for only in the reading experience does the literary work come alive. Furthermore, each reader can interpret a text differently and is affected by outside influences. These influences can effect major areas of the text and in some cases give it a different meaning. In John Fowles s The Magus, the reader s response to the authors story telling can differ by their social class, reaction to the main character, and gender. These key differences can give the story a whole new meaning and why the reader s response to literature is so important. In The Magus, the reader social class can change their outlook on the story. The Magus follows the main character Nicolas Urfe, a young middle class Englishman . Nicholas, being from the middle class, receives more than the lower class and less upper class social groups. He may had received a different education, experienced a different sort of living, and overall may have a different way of interacting with the world. For example, he was able to attend Oxford university in England which is a very costly and prestigious university to attend. For the reader that is of a lower class, Nicolas becomes a less relatable character. Throughout history

Insurance Industry and Public Relation the Need for Strategy Review - Free Essay Example

Sample details Pages: 13 Words: 3932 Downloads: 3 Date added: 2017/09/16 Category Advertising Essay Did you like this example? INSURANCE INDUSTRY AND PUBLIC RELATION: THE NEED FOR STRATEGY REVIEW By Sunday S. Akpan Department of Banking, Finance and Insurance University of Uyo, Uyo, Akwa Ibom State Nigeria Abstract. This paper investigates the Nigerian Insurance industry from the perspective of public relations. This investigation becomes imperative now that all efforts are geared toward restructuring virtually every sector of the economy for sustainable growth and development. The insurance industry has suffered poor image problem and subsequently low patronage by the public. In an effort to repositioning the industry for effective and efficient performance the paper proposes from the public relative perspective a number of strategies such as prompt and accurate claims payment, automation of operation, aggressive and creative marketing of insurance products, good customer relationship management (CRM), simplified language of policies, the people issues, better business control and reporting, and the good code of ethics as strategies for repositioning the insurance industry in Nigeria. Introduction The Nigerian economy is made up of many sectors. Don’t waste time! Our writers will create an original "Insurance Industry and Public Relation: the Need for Strategy Review" essay for you Create order These include the petroleum sector, the financial sector, agricultural sector, education, power, communication, aviation sectors etc. Insurance industry is one of the sub-sectors in the financial sector of the economy that has played a critical role toward the growth and development of the Nigerian economy as a whole. The Nigerian insurance industry has suffered what experts called image problem. Until very recently, many did not perceive insurance business as a crucial financial service mainly because the purchase of insurance service does not involve the exchange of any physical product (Babington-Ashaye, 2009). Although it is intangible, insurance is a crucial business service that creates and adds value. It lubricates the oil of business by being the risk bearer. Its importance is better appreciated when disaster of whatever magnitude occurs. Indeed, the economic importance of insurance is to reduce the financial implications of disasters thereby creating a sense of security, which encourages people to engage in commercial activities, without fear, irrespective of the degree of uncertainty. In other words, insurance service, from time immemorial, has always propelled business as it provides a safety net for entrepreneurs desirous of taking insurable risks. However, as the economy appears gloomy, and the perception of insurance industry appears frosty one would certainly seek answers to such questions as: (i)Being a strategy for managing risk and uncertainties how does insurance industry operate to guarantee good public relation? (ii)How is public relation in the Nigerian Insurance industry? iii)How would it be able to create a positive image and win good public relation? With perturbing speculations on the response, this study is therefore carried out to find the much needed answers to the above research questions. Consequently, the study seeks to achieve the following specific objectives: (i)To find how the insurance industry operate to guarantee good public relation. (ii)To examine public relation in the Nigerian Insurance industry. (iii)To highlight the various strat egies needed to create good public image, perception and relationship. Justification of the study Okoje (2008) admitted that the insurance industry has the capacity to perform more than it is currently doing. If the industry is repositioned, it would achieve the desired optimum level of performance. The profession and players in the industry must come to this realization and collectively evolve strategies for advancing the course of insurance. Carrying out this study is of great significance. First it will reveal the operational guide for use in insurance industry. Second, the study would provide solutions to the bothering issues raised in the above problem statement. Third, this study will offer useful strategies for effective and efficient operation of insurance firms in the industry. The study to a lesser extent would add to the available literature on the subject matter while also serving as a source material and reference for future writers in same or similar area of study. 2. 0Literature Review The relationship between insurance industry and the public has been a subject of concern by many writers. In trying to establish this nexus, many authors have adopted different approaches, methods and techniques. Some attempt an analysis of the role that insurance plays in ensuring the safety of the public, some focused on the importance of the industry to the economy and the society and yet others emphasized the regards that the people have for insurance industry. In this section, we shall focus our discussion on the main thrust of the study being how the public perceive insurance industry and the need for a review of the strategies that have been in use in relation to the current market situations. First we review the insurance industry in Nigeria. Second, examine public relation in the insurance industry and third we offer strategies for its effective operation. 2. 1The insurance Industry in Nigeria The insurance sector in Nigeria, per Soladoye (2010), germinated in 1921, although its regulation started only in 1961. After an indigenization process that the industry underwent in the 1970s, it was opened to foreign competition in the 1980s. Soladoye (2010) noted that the reform of Nigerias insurance industry started in 2005 with the announcement of new capitalization requirements for insurance companies. This led to the consolidation of the industry and 71 companies were recertified in February 2007. According to Babalola (2007) noted that the reform of the insurance sector was a defining moment for the sector, stating that it would form the basis for further reforms in line with FSS 2020. The minister announced that at the end of the day, we are going to have an Insurance sector that will actually have its own share in the FSS 2020. Before the announcement of the consolidation exercise in September 2005, the nation had 103 direct underwriters, 350 insurance brokers and five re-insurers. From March 1, 2007, insurance companies were required to increase their shareholders’ funds to N2 billion for life operations from N150 million, N3 billion as against the previous N200 million for non life operations and N10 billion for re-insurance business up from N350 million. The consolidation was also to significantly raise the contribution of the insurance industry to Gross Domestic Product (GDP) from less than 1. 0 per cent in 2004, compared to 16 per cent in S/Africa; 14 per cent in the UK; 9 per cent in USA; and Malaysia. It was also to increase the number of Nigerians that buy insurance policies from only about 5. 0 per cent. The Insurance Act (2003), which came with reforms, was designed to transform the industry, increase the capitalization of insurance companies, classify the business of insurance into life insurance and general insurance business, and make provisions for better supervision and control of the industry in Nigeria. The Act also facilitated the prohibition of insurance of Nigerian based assets abroad except with the involvement of Nigerian insurers. The advent of the Pension Reform Act (2004) also supposedly brought some good fortunes for the insurance sector, as it required that employers of at least five workers should take out compulsory group life policy in favour of their workers. With these, many investors in anticipation of the turnaround of the fortune of the industry bought into insurance stocks to make good returns in the coming years and month, when the expectations would have crystallised. The exercise, was also supposed to reduce the playing field from then 103 direct underwriters, five re-insurers, 350 insurance brokers, thereby growing gross premium income further. The move was also to address the high fragmentation of the industry, where each of the top five players had less than 4. 0 per cent market share, excluding NICON with 16 per cent, while the top 10 companies accounted for 34 per cent of market share. The fragmentation was blamed for the inefficient pricing and service levels in the industry, characterized by lack of product innovation, delay/default in claims payment. Efekoha (2009) admitted this much when he said the industry consolidation programme led to marked improvement in the performance of the insurance companies quoted on the Nigerian Stock Exchange (NSE). According to him: â€Å"The consolidation exercise has impacted positively on the industry as noticeable in increasing confidence of investors in insurance stock, and increased capacity of local players and ability to retain greater risks. The sector following the recapitalization exercise has really emerged as a formidable player in the financial services sector. The trend in the capital market shows that insurance stock prices have been on the upward trend. Many investors are ecording huge capital gains that have made instant millionaires of those who invested heavily in insurance stock, and this trend promises to continue. † He noted that the initial anger that trailed the pronouncement of new minimum capital levels by most operators in the sector gave way to enthusiasm, as operators began to see the â€Å"bigger picture† unfold. When the government consolidation campaign got to the insurance sector, most people felt the new capital regime of between N2-billion to N1 0-billion was far too high for the local market. However, the local market is now being driven by enhanced risk retention capacity, sundry alliances, and offshore participation that have all raised the prospects of the sector. IBS (2010) concluded that Nigerian insurers could start earning a yearly gross premium income of N1. 27-trillion ($10-billion) by 2016. The report by IBS analyzed several issues in the Nigerian insurance industry including premium growth rates, marketing and distribution, pricing, product development, and best prospects, among others. Labelling the Nigerian insurance industry, a ‘goldmine’ perhaps best represents its latent opportunities. Though demand for insurance services in the country has remained relatively low since the past 40 years due to problems, which include lack of capacity and low insurance awareness, analysts say the industry can potentially generate an annual Gross Premium of USD10 billion (N1. 27 trillion) in the next 10 years,† IBS stated in its summary of findings from m arket trends in the Nigerian insurance market. With the enhanced capital, the insurers predominantly owned by Nigerians were expected to play deeper in the niche markets- oil and gas, marine, aviation and life insurance. 2. 2The Public Relation Perspective of Insurance Industry According to Adeda (2009), the business of insurance is about trust and the only way the industry can get to the heart of the people is when insurers deliver their promises promptly. The industry, he said, must consistently uphold the principles of ethics and probity in order for the industry to be assured of a future. The insurance industry in Nigeria has up to date suffered the image problem. Confirming this, Adeda (2009) said â€Å"I have come to realize that the major impediment to the penetration of insurance in Nigeria is lack of awareness, coupled with the culture and attitude of our people. The problem of poor image, which has been lingering in the nation’s insurance industry for over half a century, has been identified as one major contributory factor impairing the growth of this strategic sector, resulting in loss of public confidence in the industry. For many people across the globe, insurance is nothing more than a necessary evil. In most societies, there is often a clear understanding of the nature, need and essence of insurance. But in the Nigerian environment, the perception is different. The average man on the street hardly understands the workings of insurance or if there is any value to be derived from entrusting part of his earnings to an insurance company. These are the daunting tasks to tackle as no nation could develop without embracing modern insurance. Till date the public relation image of the insurance industry is still gloomy. This description of the insurance industry by Adebayo (2009) suffices: The ordinary Nigerian does not see any need in taking insurance policy. It is not that he/she has once taken any policy and was disappointed when it was time for claim, but a matter of lack of culture for insuring his life or assets. While some people see banks as partners in safekeeping of their money and valuables, insurance is seen as a thing for some kind of people. This is a challenge confronting insurers, the effort to improve market penetration and make the industry compete effectively in the global market. Across the globe, people naturally do not imbibe the culture of insurance unless educated and convinced about the need to protect what they value. So, that Nigerians do not buy insurance is not to say that we are different from others, but it is because we have not been exposed adequately to the knowledge and importance of getting ourselves associated with insurance (p. 3) 2. 3Insurance Industry and Public Relation: Strategy Review For insurance industry to live up to its billings and garnered or whirled good public relation, the strategies hitherto in use must have to be review and upgraded. Special focus will be on insurance as an agent of development even in the rural areas. (i)Strategy I: Prompt and Accurate Claims Payment A major reason why insurance was treated with disdain in the past was its poor record of claims settlement and delay in the payment of verified claims. As Ruebenson (2010) declared recently, â€Å"for insurance operations, claims had better be a core competence or you just won’t be successful†. Many insurance companies have not fared well in this area. Understandably, insurance products can easily be abused. Indeed, clients who may be out to cheat for monetary gains can abuse the policies drafted. This is not a peculiar phenomenon in our country. There are many cases in other jurisdictions of persons who committed crimes and unethical practices in the hope of harvesting insurance compensation from the insurer obvious of the equitable maxim that he â€Å"who must come to equity must come with clean hands’. This often justifiably raises the issue of legality of insurance claims. However, litigation over claims put a great strain on the ability of the insurance practitioner to establish that the company he represents is a credible firm. The engagement of loss adjusters notwithstanding, the negative impacts generated by delayed settlement or repudiation of phony claims and litigations, are often immense. (ii)Strategy II: Automation of Operation In spite of the fact that the above developments were caused by the desire of the insurers to fish out spurious claims, many operators in the industry have come to realize that verification of claims can be expeditiously done through the adoption of appropriate software and the creation of a single customer data-base from disparate back-office systems including underwriting, claims, billing, policy-management, etc. With increased recapitalization and consolidation, it is hoped that many insurers would be able to create a single source of customer data using information and communication technology (ICT) facilities such that a single, real-time view of customers’ total portfolio will be available to agents, brokers and sales executives. Sophisticated ICT systems are vital for managing business intelligence, but technology is also important for making internal processes more efficient and cost effective. The goal of technology is not just automation. The imperative is to link billing systems to eligibility systems, provider system, claims systems and reporting systems. With these, the lead-time for the processing of claims will be significantly reduced. Thus, re-engineering the various processes, procedures and organizational structure can pay dividends for claims management. Also, with the envisaged increase in capitalization, ability to pay claims would also not be a problem. (iii)Strategy III: Aggressive and Creative Marketing of Insurance Products The Insurance practitioners must deliberately strive to identify the needs of their consumers, plan produces that will adequately meet those needs, properly price, promote and distribute those products such that both parties will mutually benefit from the process. In other words, the insurer must translate not only the customers’ needs into product and service requirements but also must deliver the products at competitive rates with the right quality. Insurers should therefore not underestimate the importance of product features and strategy even as they pursue their distribution networks. Especially significant is the need to innovate as conditions change and to service unmet demands or segments. This may require the modification of existing covers or providing totally new options. The insured should be delighted by the quality and variety of product/service he gets such that his patronage is assured. Product offerings must be aligned, though, with the insurer’s broad value proposition and strategic direction. So the aim of any alliance or acquisition is not to increase the number of products per se. he goal should be to assemble a product portfolio that allows the insurer to serve as many target customers as possible and to respond quickly to the changing needs of the market. Thus, with the on-going consolidation and deregulation of the financial services sector, it is hoped that mergers of insurance companies will produce a pot pourri of products while the tariffs for premium will now be more competitive and attractive and attractive for the insurer to be abl e to deliver on his promise. Whether we like it or not, the whole business of insurance must be built around the customer to guarantee his brand loyalty. In other words, insurance companies must continue to carefully develop products based on the information they obtain from the market place and package them in a manner that will both be beneficial to the insured and insurer. (iv)Strategy IV: Customer Relationship Management (CRM) The introduction of Customer Relationship Management is a critical success factor in insurance business. Insurers must imbibe this market-focused philosophy because, companies that can tailor their product lines and distribution channels to tested customer needs, with a focus on service, will win competitive advantage. v)Strategy V: Simplify Language of Policies Winning the confidence of the insured is crucial. Confidence can only be built if the insured understands what he/she is being encouraged to purchase. To achieve this confidence, there is need to simplify the language with which insurance policies are couched. A home grown policy design should be evolved by the industry rather than the archaic legal jargons evolved by the merchants of old. The business world is dynamic and there is no reason why the policies, which are basically contracts, cannot be written in modern day English language and legal expressions. Except potential policy buyers know and understand the contract they are going into, trust, which is the basis of insurance, would not exist. Where there is no trust, business cannot be sustained on a long-term basis. (vi)Strategy VI: The People Issues The processes for promoting and marketing insurance services have largely been through insurance agents, brokers and sales executives. These intermediaries help to educate very carefully the intricacies of each insurance policy to clients. When the policies are purchased, they also provide any after sales services that may be required. They also negotiate settlement with insurers and loss adjusters on the insured’s behalf. Insurance salesmen are used also to market the products. Given the challenges of globalization and the impact of information technology on businesses, including insurance, greater investment needs to be made in capacity building in order to improve the skills of exiting employees. If need be, persons from outside the organization that have the right skills can also be recruited to add fresh blood into the system. Also, the various intermediaries need to be trained extensively such that they will continue to adhere to code of best practices in the industry. (vii)Strategy VII: Better Business Control and Reporting In keeping with the imperative to pursue sustainable growth, there is need to improve the internal controls of insurance companies not only to eliminate wastes and improve their efficiency but also to ensure that business decisions are optimally taken. In this respect, they must constantly review their value chain in order to achieve the desired level of performance. This is the way to go. Insurers able to demonstrate mastery of their internal control processes will win consumer loyalty, as good financial health provides customers with evidence of longevity. (viii)Strategy VIII: The Code of Ethics For the insurance industry to remain the lubricant of the wheel of business, the profession must develop and enforce a Code of Ethics in line with universally accepted norms. The Code should define in very clear terms, the acceptable practices and mannerisms of insurance practitioners. All non-conformists or deviant behaviours must be sanctioned without fear or favour. If there are not sacred cows, the industry will be the better for it as the confidence of stakeholders would be sustained. We must collectively redefine the rules and raise the ethical bar for the industry to continue to flourish. To be trusted, we must be trustworthy. The time for the regulatory agencies and professional insurance institute to act is now. 3. 0Conclusion and implications. In this write-up I have stressed the importance of insurance and the disproportionate perception place on it by the public. Indeed, insurance is perceived as a service you can do without or an afterthought! This perception is an irony. It is against this that I advocated above the need for the Insurance Industry and the Insurance Profession to urgently re-engineered, redefined and refocused its strategy to whirl good public relation. Insurance must rightly be seen as a Win/Win undertaking. Insurance creates value because it protects. It creates value because it is an antidote to fear, uncertainties and risk, stimulates and encourages investment. If its strategy as reviewed is explored, it will continue to reinforce and facilitate trade both at the national and international levels, such that value and wealth are created on a sustainable basis. Indeed, the personnel of an organization are its greatest assets. Any investment in human capital is an investment in the future of the organization. Reviewing the insurance industry strategy should not begin and end with just recapitalization and induced mergers. This should be the first step. We must move towards prompt and accurate claims payment, automation of operation, aggressive and creative marketing of insurance products, customer relationship management (CRM), simplify language of policies etc. Only then will the insured feel confident that they have coverage for any insurance product purchased and their perception corrected. The above investigation has a number of implications for the insurance industry, practitioners and policy owners. To the industry, the above findings would rejuvenate the entire industry by injecting new methods and modus operandi for effective operation. It will also enable the industry to compete effectively against others in the economy at the local and international scene. The findings will benefit insurance practitioners by means of efficiency, profitability and sustainability. Operators would by the findings of their paper be able to device measures capable of moving their respective insurance firms to a greater height. Also the practitioners would improve upon their overall performance in the midst of stringent regulations, turbulent operational environment and sophisticate consumer market. The policy owners would increase their level of confidence reposed on the industry and fully tapped the benefits thereof. Such would be guaranteed of prompt claim payment, good insurance product, deepened product awareness, zero time services provision etc Generally, the government would also benefit from the proceeds of the industry since some major macro economic problems of the society like unemployment would be solved. Also a meaningful contribution would be made to the country’s gross domestic product (GDP). References Adebayo, T. (2009). Introduction to Risk Management and InsurancePrentice Hall of India Private Limited. Adeda, L. (2009). Outlines agenda for changing insurance perception in Nigeria Babalola, G. (2007). Principles of Risk Management and Insurance. 10th edition, Pearson International Edition. Efekoha, D. (2009) Dictionary of Finance and Investment Terms, 6th edition, Hauppauge, Barron’s Educational Series, Inc. IBS (2010). The Investment Case for the Insurance Sector. Louise P. (2008). Improving Public Opinion of Health Insurance Companies Malthouse Press Limited, Lagos. Okoje, N. (2008). Customer Service Strategy for Insurance Industry. Industry Guide 1(2): 40-49. Soladoye, G. (2010), Risk Management and Insurance Application 2nd Edition. The Insurance Act (2003), Publication of Nigerian Insurers Association.

Assignment On Human Resource Management Essay - 2246 Words

Diploma in Business Management Level 7 Assignment on Human Resource Management ( 7010 ) SUBMITTED BY : NARINDER SINGH SUBMITTED TO : Mr. IQBAL STUDENT ID : A8830 INTRODUCTION This report shows detailed and formulated pattern regarding one of the New Zealand’s top rated organization Starbucks. It is one of the public listed companies in New Zealand. Mainly this report intended to give detailed view of managerial practices in the organization. Starbucks Our story began in 1971. Back then we were a roaster and retailer of whole bean and ground coffee, tea and spices with a single store in Seattle’s Pike Place Market. Today, we are privileged to connect with millions of customers every day with exceptional products and more than 20,000 retail stores in 65 countries. Folklore Starbucks is named after the first mate in Herman Melville’s Moby Dick. Our logo is also inspired by the sea featuring a twin-tailed siren from Greek mythology. Starbucks Mission Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Our Coffee We’ve always believed in serving the best coffee possible. It s our goal for all of our coffee to be grown under the highest standards of quality, using ethical sourcing practices. Our coffee buyers personally travel to coffee farms in Latin America, Africa andShow MoreRelatedHuman Resource Management Assignment3150 Words   |  13 PagesASSIGNMENT ACKNOWLEDGEMENT SHEET FOR SUBMISSION OF ASSESSMENT Serial No: 40074724 Please note: 1. Assignments must be submitted on or before the date due.2. Students must ensure that they are not guilty of plagiarism which is, essentially, referring to the words/ideas of others without acknowledgment. Students must comply with the statement below. | Students Declaration The attached assignment is my own work, and has never been submitted for assessment on any other courseRead MoreHUMAN RESOURCE MANAGEMENT ASSIGNMENT3474 Words   |  14 PagesGaizka De Rotaeche CIB00001JJ 610 - HUMAN RESOURCE MANAGEMENT ASSIGNMENT. Case Analysis: Enterprise Rent-a-Car. By Gaizka De Rotaeche June 2014. Gaizka De Rotaeche CIB00001JJ Gaizka De Rotaeche CIB00001JJ SECTION 1: Human resource management, Business environment and Human resource planning. LO1 a b (26 marks). Question 1 With the support of relevant examples from the given case: a) Define personnel management and human resource management, and discuss TWO major differences betweenRead MoreAn Assignment On Human Resource Management8731 Words   |  35 Pages AA Hamilton College HND in Business Unit 21: HUMAN RESOURCE MANAGEMENT Submitted by: Name: Ana Maria Vasile Group: B9 ID: 23243 This assignment focus on analyzing human resource management in two companies: Tesco and Sainsbury which are in retail industry. It will highlight key area: human resource management, motivation, employment low. Tesco plc is the largest retailer in UK, as well as being a highly significant retailer globally.Tesco PLC is a British multinational groceryRead MoreHuman Resource Management Assignment981 Words   |  4 Pagesattention to details, possessing a sales aptitude and interested in preventing errors and solving problems Must be computer literate and current on information and communication technology skills Self motivated Excellence in organization and time management skills 2. Compare the common tasks and behavioral objectives contained within the job descriptions or lists of duties. In both cases, the worker will be required to coordinate activities using the Information Communication Technology platformRead MoreAssignment 3 : Human Resources Management1461 Words   |  6 PagesMatthew Allen September 29, 2014 LS 625 Assignment 3 – Human Resources Management Issue CASE STUDY: Read Part One of the text: Chapters 1-4. Write a description of a problematic situation or incident that you have witnessed or experienced in your workplace. The situation or incident should focus on a human resource management issue. In detailing the incident, begin with an overview of the circumstances surrounding the initial development of the problem. Include specific details, the people involvedRead MoreHuman Resources Management : Individual Assignment1956 Words   |  8 PagesHuman Resources Management: Individual Assignment – Topic 2 Introduction An employee may be happy with his job and the challenge it offers him but you wouldn’t want him to feel that he’s not valued or rewarded enough for his actions because one day, that employee may be your top contributor. The next day he could be a top contributor for some other company. If that wasn’t bad enough, that ‘some other company’ may very well turn out to the employer’s stiff competitor. Employees have that choiceRead MoreAssignment Unit 8 : Human Resource Management Essay913 Words   |  4 PagesWritten Assignment Unit 8 Human Resource Management University of the People Thesis Statement Our writing assignment for the final week of study is to visit, wikipedia.org and write about the topics of, recruitment of personnel, performance appraisals, and training and development. I shall define each of the three topics and also provide some personal insight into my experiences with each of these aspects of Human Resources. I was surprised that the assignment is directing us to Wikipedia, as moreRead Moreassignment on Organisations and Human Resource Management Essay5251 Words   |  22 Pagesï » ¿ UNIVERSITY OF NICOSIA ORGANIZATIONS HUMAN RESOURCE MANAGEMENT MODULE CODE: MBAN-609DE ASSIGNMENT 1 BY: PERFECT MAWUNYA DEKU SEPTEMBER-OCTOBER 2014 A REPORT ON WHY STRATEGIC HUMAN RESOURCE MANAGEMENT IS IMPERATIVE TO THE LONG TERM SUCCESS OF THE COMPANY INTRODUCTION Over the years, successful Human Resource management has proved to maximize services, profit margins and the entire work profile of various consortiums, companies and multi-national firms. I believe HRMRead MoreEssay on Assignment 2: Human Resource Management Training Proposal2089 Words   |  9 Pagesâ€Å"Human Resource Management Training Proposal† Week 8 Assignment By: Beira Romero HSA 320 Professor: Teresa Cole 08/25/2013 Overview of the Process and Steps Human resources planning assess the manpower requirement for future period of time. It attempts to provide sufficient manpower required to perform organizational activities. HR planning is a continuous process which starts with identification of HR objectives, move through analysis of manpower resources and ends at appraisal of HRRead MoreBA 340 Human Resource Management All Assignments Midterm and Final Exam1671 Words   |  7 Pagesï » ¿BA 340 (Human Resource Management) All Assignments, Midterm, and Final Exam IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://www.hwprofile.com/?download=ba-340-human-resource-management-all-assignments-midterm-and-final-exam IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM W1 Assignment â€Å"Workplace Shifts†    Society has evolved over the last century causing organizations to change with the times.       This evolution has, in turn, required workers

Skywest Cas Free Essays

eSkyWest, Inc. case Analysis Written Case Analysis Table of Contents 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg. We will write a custom essay sample on Skywest Cas or any similar topic only for you Order Now 2 2. External Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg. 3-10 3. Internal Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg. 10-14 4. Key Decisions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 14- 15 5. Alternatives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg. 15 6. Recommended Decisions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ pg. 16 7. Appendices†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. pg. 17-19 1-SkyWest Airline Introduction SkyWest, Inc. was found in 1972 by Raplph Atkins in St. George, Utah. Initially this was only a charter type of flight and was mostly used by businessman travelling between Salt Lake City and St. George, Utah. But with business partnerships and merging with companies like Western Airlines and later with Delta airlines partnerships the network of SkyWest airlines were much broad. Later in near future with more partnerships with United Airlines and Midwest Airlines helped the company to grow rapidly and in 2005 SkyWest acquired Atlantic Southeast Airlines. Currently SkyWest is operating in overseas too for instance Canada meanwhile it runs its operations in 34 states and nearly in 158 cities. Sky West case analysis report will help the reader to understand especially about the SkyWest Inc. and the general economic conditions of the regional airline industry of US at a micro environmental level along with some introductions of market size and market growth of the airline industry. The report is organized under the following main topics as follows. External analysis, internal analysis, Key decisions, alternatives and recommended decisions along with some charts and tables that helps the arguments for better understanding. Moving on when we consider the industry as a whole it had a decline due to the economic recession in 2009 that affected the growth rate of the airline industry and in terms of market size the revenue from passenger per mile decreased in 2008 compared to 2007 and this is an early effect of the economic recession, we shall discuss the threats and alternatives as we go along. In five year period from 2004 to 2008 the industry’s combined revenue has increased almost with a double effect from $4. 7 billion to $8. 4 billion (Please refer the epilogue table # 1). As part of the introduction let’s identify the vision statement and the company strategy. Company strategy is low-cist strategy and its competitive advantage is achieved by lower cost than its competitors. Vision statement is â€Å"Atlantic Southeast Airlines is committed to connecting more people, more often; to the places they love, by becoming the world’s first super regional airline. Moving on we would concentrate on the external analysis of this company. 2-External Analysis Economic Factors The external analysis assess the company’s external environment by looking at its Marco-environmental factors including the size of the market in terms of unit sale and sales volume as well as the market growth. It also examines the number and size of buyers and sellers in the env ironment, the pace of technological change or innovation, the economies of scale, geographic boundaries, the market supply and demand conditions, learning curve effects of the market and the differential products available. We will now evaluate SkyWest’s external environment by first looking at its economic factors. Size and Market Growth rate: The first economic factor addressed is the size of the company and its growth rate. SkyWest is the largest independently owned regional airline that is partnered with two of the major airlines; United and Delta. Alone SkyWest has more than 11,000 people representing their company none of which are unionized. Through the partnership with United and Delta, SkyWest was imited to the size of the aircraft through scope clauses limiting seating of 76 with Delta and 70 with United. This would limit the amount of business they could capture from their partners. In order to take advantages of their efficiencies SkyWest could have purchased larger aircraft to expand its business had there been no limitations. Throughout the five years SkyWest contracted to Delta and United ending in December of 2008, their annual growth rate had increased to a compounded 29. 6% with the number of flights increasing from 1,500 to 2,300. The size of the market in terms of unit sale and sales volume will be discussed in the next paragraph defining its size of buyers and sellers. Number and Size of buyers and sellers: The number of buyers in the company can be defined by the number of customers the company serves per year. SkyWest has the ability to serve over 100,000 customers per year due to the contract with Delta and United. The number of sellers in the company can be defined as the partnering airlines using their regional services to operate their connecting flights for a fixed cost. SkyWest is a regional airline that operates the connecting flights of its major partners Delta and United. The regional flight as well as the connecting flights through Delta and United has them serving 158 cities in 42 states and five Canadian provinces and Mexico. Their Hubs are located in Chicago O’Hare, Los Angeles, San Francisco, Milwaukee, Portland, Denver and Salt Lake City. In order to maintain these airlines they have maintenance based in Atlanta, Chicago, Colorado Springs, Denver, Fresno, Los Angeles, Milwaukee, Palm Springs, Portland, Salt Lake City, San Francisco and Tucson. Through their contract with Delta they have increased their customer base by operating about 430 connecting flights per day between Salt Lake City and designated outlaying destination which is about 59. 9% of the company’s capacity. The other 40. 10% of capacity goes to their contract with United that has them operating about 900 scheduled departures per day. In January of 2008 SkyWest took over Midwest allowing them to service 70 and 90 seating customers per flight. When they partnered with these major airlines there were a lot of changes that took place including technical changes. We will now discuss the pace of these technical changes and innovation. Pace of technological change or innovation: Most of the technological changes happened after the 9/11 attack on the World Trade Center and the Pentagon. One of the changes SkyWest had implemented was the Stetson Quality Suite. The Stetson Quality Suite is a mobile data collection and reporting software SkyWest used to ensure they were meeting or exceeding their safety quality standards. SkyWest used this particular software to keep up with the Safety and maintenance standards for the Department of Transportation and the Federal Aviation Administration. Now that we have discussed the pace of technological changes or innovation we will now go on to discuss the economies of scale. Economies of Scale: The economies of scale are the cost advantages company’s can obtain due to size, with cost per unit of output decreasing with increasing scale as fixed costs are spread out over more units of output. SkyWest was able to capitalize on the economies of scale when it partnered with Delta and United which helped reduce the cost of providing the service over what others could do. Through these partnerships SkyWest was able to gain access to an established customer base that would help increase their business in size and also lower the costs through the contracts where the major airlines were responsible for all their jet fuel, ground handling and aircraft maintenance and ownership. Given the gained access to customers through the partnership made SkyWest heavily dependent on Delta and United. With the current recession causing a dramatic downfall in the economic condition put all airlines including the major ones like Delta and United at risk to airlines losses, bankruptcies and consolidations due to the decrease in operating revenues by 87% with a 64% drop in income, 77% drop in revenues and a 60% drop in operating income. Now that we have discussed the economies of scale in the industry we will go on to discuss the geographic boundaries. Geographic Boundaries: The geographic boundaries of an industry refer to the geographic boundary lines that are drawn whether they are local, regional, national or global. SkyWest’s geographic boundaries are regional representing only small cities and also servicing major airlines through connecting flights. The partnerships with Delta and United had allowed expansion to current and new routes as well and additional departures. SkyWest was looking to expand more and through the acquisition with ASA they were allowed to expand geographically allowing them access to the East Coast markets and comprehensive national coverage that greatly expanded their scope of operations by adding regional jets to their fleets and a $1 billion to operations. We will now move on to discuss the market supply and demand conditions. Market Supply/Demand Conditions: The market supply and demand conditions changed greatly with the September 11, 2001 attack on the World Trade Center and the Pentagon. The 9/11 attack prevented people from flying due to the fear of crashing which translated into huge losses in the major airlines. People feared the larger airlines more than the smaller regional jets due to the fact that they felt the larger planes to be more susceptible to terrorist attacks. They assumed that smaller regional airlines would not be a target for terrorism but still saw them to be less safe than the larger airplanes. The second condition affecting the market demand was the recession starting in late 2007 that continued throughout 2009. The beginning of the recession had negative effects on participant’s income statements and balance sheets resulting in airlines losses, bankruptcies and consolidations. The recession continued into 2008 and 2009 causing a dramatic downturn in the company’s financial performance. This economic downfall of 2008 and 2009 caused a decrease in the number of scheduled flights, and passenger traffics by 3%, with cargo revenues dropping as well. The airline industry is highly sensitive to fluctuations in the economy because of the significant portion of business and leisure travelers. The recession had lowered the overall demand for airline services not only to the regional but all airlines in the United States. The most recent recession in 2009 had a strong impact on the credit markets preventing airlines from getting the needed credit to acquire new aircraft. Other things affecting the market supply/demand conditions were the seasonal fluctuations that increased travel during summer months and decreased travel during the winter due to flight cancelations and delays due to inclement weather. The weather related flight cancellations represented a loss to 2,850 of its flights with a decrease in pretax income of about $5. 2 million. Next we will discuss the learning curve effects in the industry. Learning/experience curve effects: The learning curve effects of the industry were outlined in the training offered to help pilots and maintenance personnel keep up to date on the new safety and maintenance regulations as well as their skills. The vast majority of training was at training facilities for both the company pilots and maintenance personnel through a six-week program. The six-week training program proved to be very comprehensive and respected that it attracted tuition paying Federal Aviation Administration personnel. Next we will discuss their differential products. Differential Products: The differential products discussed in this case were the Bombardier Regional Jets and the Embraer and ATR Turboprops. The Bombardier region jets were the main regional gets used in the industry. These were larger commercial jets used to service longer-haul flights to the destinations up to 1,200 miles away, which allowed regional carriers to operate new longer routes and run shorter routes more efficiently. The other product discussed was the Embraer and ATR Turboprop which seats 30 passengers. This jet was used for short- to medium-haul flights and was able to land on shorter runways. Several travelers were unsure of riding on the turboprops due to the perception of them being loud and uncomfortable. To accommodate travelers that wanted to ride a smaller jet with a more comfortable ride they created the Bombardier Q series turboprop that was equipped with noise and vibration reduction devices to help reduce the noise and vibration levels to those of a regional jet. In the next section we will define the driving forces for change in the industry. Driving Forces The driving forces are the factors that are driving the industry to make changes. These changes within the industry will have impacts on globalization, product and marketing innovation, technological change, changes in long-term growth rates and new government regulations. To start off we will discuss the impact on globalization. Globalization: SkyWest decided to go international with their business and started working with regional carriers in Europe, Latin America and China. The push to go global was due to the increased interest in airline business from people in Brazil and China. The people from these two geographic areas had pursued SkyWest to help them build their own airline within their geographic region. SkyWest agreed to help them train people, and organize from a 10- to 20 aircraft operation to a major regional carrier in countries that really needed a major regional carrier. Through globalizing their company SkyWest would be able to increase their purchasing power and help buys things at a lower rate. However, through the limitations the foreign governments would place on U. S. carriers, the opportunities by the international joint ventures would be limited. Now that we discussed the globalization driving factor we will go on to discuss the product and marketing innovation. Product and marketing innovation: The first product and marketing innovation is the Bombardier Regional Jets. The Bombardier regional jets originally serviced flights with destinations of up to 1,200 miles away. The new innovated Bombardier Jet has the quietest commercial jet available with a range of up to 1,600 miles. This larger regional jet offers many amenities including flight attendant service, stand-up cabin, overhead and under-seat storage, lavatories, and in-flight snack and beverage service. These jets were able to operate at lower costs then a 120-seat or larger jet aircraft due to its smaller size and efficient design. The other product and marketing innovation is the Embraer and ATR Turboprop, many travelers were not very interested in these smaller jets due to their noise level and uncomfortable seating. The new Embraer and ATR Turboprop has a 30 seat 120 turboprop and a 74 seat ATR 72 turboprops that are able to operate more economically over short-haul routes than the larger jet aircrafts. These smaller jets had comfort features such as stand-up headroom, a lavatory, overhead baggage compartments and flight attendant services. The smaller jets were more economically feasible making it possible to provide high frequency service in markets with relatively low volumes of passenger traffic. We will now go on to discuss the technological changes. Technological Changes: The technological changes taking place are the implementation of Stetson Quality Suite for Safety used to ensure their standards were meeting or exceeding their safety quality standards. The changes to the Bombardier and Embraer Jet to increase the overall quality and service of the jets in reference to their range of flight and the services offered to the staff and the customers boarding the flight. Other technological changes taking place are the new ways of communicating creating less need for travel. With the economy still being in a vulnerable position people are very sensitive to the price of a flight and try to find other means of commuting to their destination or communicating to that particular party. These technological changes have caused a decrease in the airline market due to price sensitivity that even business travelers are looking to save money. Next we will discuss the changes in the long-term growth rate. Changes in the long-term growth rate: The changes in the long-term growth rate started to increase when SkyWest partnered with Delta and United Express. The partnership had increased their annual growth rate to a compounded 29. 6%. This partnership had increased the number of flights from 1,500 to 2,300, and increased their departures to 2,400 to 208 cities per day by adding connection flight through their major airlines that serviced the United States, Canada, Mexico and the Caribbean. With the increased flights there were new government regulations that were applied. In the next paragraph we will discuss those regulations. New Government regulations: New Government regulations were in effect immediately after the 9/11 attack to ensure safety to the passengers by increasing the security regulations. The increased security also increased operational costs to the airline carriers due to the increased safety regulations. The last increase that took place was the increased jet fuel cost, due to the economic recession in mid-2008. All these changes lead to a decrease in ticket sales due to fear of flying post 9/11 attack, and the incurred costs of flying in response to the threat of rising fuel costs. The next section will talk about the industry’s key success factors. Key Success factors: The key success factors are the competitive factors that most affect industry members’ ability to prosper in the marketplace. Different types of key success factors can be technology related, manufacturing related, distribution related, marketing related and skills and capability related. Technology related: The technology related key success factors that the SkyWest Inc. was defined by how they were able to acquire new aircraft. Regional airlines were required to find the needed capital and financing to increase the size of their fleets to service the longer routes being outsourced by the major airlines. This had to be done without compromising their scope contracts with labor. SkyWest was able to overcome that by joining with ASA to acquire new aircraft. The next factors to success being discussed are the Manufacturing and Distribution related key success factors. Manufacturing/Distribution related: SkyWest’s manufacturing and or distribution related key success factors are defined by the ability to get their passengers to their destination on time. SkyWest was able to maximize their on-time arrivals by successfully getting all of their flyers to their sites on-time and making sure they did not miss their connecting flights as well. This gave them a good reputation with their customers in increasing satisfaction, naming them one of the highest rated regional carriers for on-time arrivals. Marketing-related The regional airline industry related its marketing key success factors to how they were able to maintain a strong safety image. In order to keep up with images of flying SkyWest increased safety standards and regulations to develop a much more safer image for those that were skeptical about flying smaller flights especially after the 9/11 attack. Passengers were unsure of the safety of the smaller jets preventing them from flying with the regional airlines, but after more safety had been implemented and other procedures had taken place to ensure everything was up to code they were able to maintain this strong image to passengers to ensure their safety when flying. Skills and capability-related SkyWest’s skills and capabilities were expressed in how they were able to maintain high levels of customer service. Typically regional airlines were not known for their customer service due to a large number of mishandled uggage that happened when transferring luggage from one plane to the next and an increased number of cancelled flights due to inclement weather. Most of these issues were not directly related to the regional due to their partnerships that handed all of their scheduling and majors taking priority in runways. SkyWest was able to maintain an average number of mishandled baggage, the second lowest number of involunt ary denied boarding’s and the fourth in number of complaints per 100,00o passengers. This put them at the top to be named the Regional Airline Company of the Year for on-time arrivals by the Department of Transportation multiple times. Five Forces Model of Competition The five forces model evaluates the industries competition based on their level of Rivalry, threat of new entry, substitutes, bargaining power of buyers and bargaining power of suppliers to be either strong, moderate or weak. We will first discuss the first and most powerful of the five forces of competition; rivalry. Rivalry: Competition in the U. S. irline industry is very strong with their being a large number of competitors in the regional airlines. The success of low-cost carriers such as Southwest Airlines and JetBlue has increased the pressure on airlines to compete on price to attract sufficient numbers of passengers to keep flights full. In some regards, major airlines use contracts with regional carriers to keep costs and airfares low. Therefore, contracts for regional service are awarded by m ajor carriers are to those having the lowest prices and reliable service. The overall rivalry in the airline industry is strong. Threat of new entry: The Threat of entry into the regional airline is define by the barriers to entry that include costs of acquiring a fleet of aircraft, acquiring contracts with major airline partners, and low industry profitability. Although the capital required to start up a modestly-sized small regional airline is fairly small, entering at a scale large enough to create a competitive threat requires substantial resources. The major threat of entry comes from major carriers which have the resources to start up their own regional airline. This threat is only moderate because the trend is for ajors airlines to sell off their regional airline operations and contract out service to regional carriers. Substitutes: Since regional airlines service short routes, passengers have more alternatives such as bus, automobile, or train travel than they do for long distance travel. This is particularly true when passengers are traveling only a few hundred miles. However, for major carriers that utilize regional carriers to execute hub and spoke strategies, there are few alternatives that they can use other than operating their own regional carrier. Substitutes are a weak to moderate force in the industry. Bargaining Power of Buyers: In the airline industry there are two types of customers; Leisure and business travelers. The business travelers tend to make up most of the market because they used the regional airlines to commute to and from locations that were considered too far to drive. They were also the most profitable because the larger customers purchased flights that were bought at a premium due to their short-notice or unexpected plan for flight. The Second type of buyers in the market were the leisure travelers that was a much smaller group of buyers because they traveled less often and were more price sensitive to the ticket sales. With their being several airline businesses in the industry all offering the same service, switching costs for tickets from airline to another tend to be very high. Airline industries have a fixed price on airline tickets preventing from buyers being able to bargain a lower price. Since most if not all customers search airline tickets based on price this makes the bargaining powers of buyers in the industry to be weak to moderate. Bargaining Power of Suppliers: In the regional airline industry there are two main types of suppliers Brazil’s Empresa Brasilerira de Aeronautica SA and Bombardier. With their only being two different types of suppliers in the regional airline industry that have two differentiated products, makes the demand for them to be very high. Since these are the only two for the regional airlines it makes the bargaining power of suppliers to be very strong allowing them to change higher prices without losing their service to another manufacturer. 3-Internal Analysis SWOT Analysis The SWOT analysis is an incredibly useful tool that helps review and analyzes the company’s current strategy. The SWOT analysis also identifies a potentially new direction for the company’s strategy to go. SWOT stands for strength, weakness, opportunities, and threats. Strength and weaknesses generally relate to factors that are internal to the organization, while opportunities and weakness in contrast often relates to factors that are external to the organization. We will now analyze SkyWest, Inc. using the SWOT analysis. Strengths: A company’s strength is something that the company is good at doing, or an attribute that enhances its competitiveness in the marketplace. SkyWest leads the industry in safety and maintenance by being a pillar in the industry for seeking safety prevention, and leading by example and getting involved to help the community overall be safer. SkyWest also has good statistics for safety and for on-time arrivals along with other factors that affect customer satisfaction. For years 2004 through 2009 SkyWest had the highest percentage for scheduled flights arriving on time. They also were second for the least amount of involuntary denied boarding’s. SkyWest also has a high level of employee satisfaction due to its workforce being nonunion. SkyWest owns jets like the Bombardier regional jet or the Embraer and ATR turboprops that are more economical and cost-efficient but also have speed that is comparable to those of larger jets; and they even have many of the same features that larger jets offer. A significant strength is that SkyWest has experienced a compounded annual growth rate of 29. 6 percent from 2003 to 2008. A key strength for SkyWest’s success is its ability to secure partnerships that expand its geographic and customer base. Now that we have completed analyzing SkyWest’s strengths we can take move on to analyzing their weaknesses. Weaknesses: A weakness is something a company lacks or does poorly; in comparison to competitors or a condition that puts the company at a competitive disadvantage. One weakness is SkyWest’s poor relationship with Delta Airlines which was caused by their disagreement over their contract and whether or not Delta owed SkyWest $25 million dollars. This inhibits SkyWest’s ability to fully function within that partnership, and of course being short changed $25 million dollars is also a significant loss. Another factor that contributes to SkyWest’s weaknesses was once considered a strength; SkyWest’s partnership with Midwest. After partnering together for two years Midwest filed for bankruptcy leaving a messy wind-down process for both companies, which undoubtedly will take a toll on SkyWest’s competitive advantage. Unfortunately that’s not where the mess ends; in 2009, Midwest was purchased by Republic, a larger company that is considered a direct competitor of SkyWest. Another strategic issue for SkyWest is the fact that because they partner with larger airlines and even though their own statistics for safety and for on-time arrivals along with other factors that affect customer satisfaction are either average or above average, from the customer’s point of view they are connected with the major carriers. Therefore the larger airlines statistics are intertwined with their own; which, results in customers perceiving a poor reputation for customer service; mishandling baggage, canceling flights, delayed flights for both carriers. Another weakness caused by customer’s perceptions is that customers typically perceive that the planes regional carriers use are small, uncomfortable, noisy, and also unsafe. Now that we have finished evaluating SkyWest’s weakness, we can now move on to analyze opportunities. Finally the last weakness we will go over is the scope clauses with United ; Delta Airlines. In the labor contracts with their pilots union it is spelled out the maximum size of airplane that an outside partner can operate. This limits the size of aircrafts to 70-seat and 76-seat aircrafts. This translates into a limited amount of ticket sales which means its limiting profits and market share and the number of flights a company could support. Now that we have evaluated the different factors that put SkyWest at a disadvantage we will take a look at the external factors; starting with opportunities. Opportunities: Opportunities are found within the external environment and arise when a company can take advantage of current circumstances or changes in the environment to gain a competitive advantage and become more profitable. Generally the best opportunities are the ones that match with your company’s strategic goals. One opportunity for SkyWest is with more and more major carriers that start outsourcing a portion of their routes to regional airlines this creates an opportunity for SkyWest to build those relationships and eventually become partners with those major airlines, giving SkyWest a chance to expand and grab more market share. Another opportunity for SkyWest to expand its market share is with United ; Delta Airlines filing for chapter 11 this creates a short window of opportunity for SkyWest to serve those customers and to do it with great service and low prices building an expanded loyal customer base. Another opportunity that SkyWest needs to watch the horizon for is if the scope cause liberation were to be approved it would create an opportunity for SkyWest to increase the number of routes flown in contract with other airlines and the seat capacity of those routes. It would be a wise decision to spend time making plans that could be quickly executed should the scope cause liberation get approved. It’s important to keep an eye on the horizon watching for changing technology, government policies, or social trends that way the company can respond quickly and seize the opportunity to gain the competitive advantage. A changing external environment doesn’t only mean possible opportunities it also means possible threats. We will now examine SkyWest’s possible threats. Threats: Threats are factors in a company’s external environment that pose a threat to the company’s profitability and competitive well-being. The 2007 economic recession is an example of a threat that many people did not see, because of this many industries including the airline industry suffered. Some people believe that we still have not fully felt the aftershocks of the recession and because the airline Industry is highly sensitive to the economy as a significant portion of travel; both leisure and business travelers, are discretionary, it is still a potential threat. Another threat to the airline industry is the increasing costs for jet fuel and its general availability. This can have a crippling effect on a company’s profitability and threatens their overall business operations. Fuel expenses already account for 35-50 percent of an airlines operation cost in 2009. Another external threat is if either new or changes are made to the ASA Regulation for either weather related factors or safety inspections. Both would increase costs and could threaten the success and the competitive advantage of SkyWest, which in turn could lead to decreased customer satisfaction and fewer sales. Since SkyWest is a regional carrier they need to keep a careful watch not only on how they are performing but also how their major carriers whom they have partnerships with are performing. If a major carrier were to file for bankruptcy it would most certainly threaten SkyWest with loss of customers and profits and could lead them to follow suit and file for bankruptcy as well. Another threat that could affect regional carriers in the industry is if two major carriers merge the result would most likely be consolidating of routes and possibly completely shutting down smaller hubs, which as we have explained would also affect their regional partners. Financial assessment Ratios: Financial data is important to analyze as it provides the concrete results as for how the company’s strategy is performing. Ratio analysis is often used to determine a company’s financial position. Ratio analysis breaks down into 5 key subgroups; profitability ratios, liquidity ratios, leverage ratios, activity ratios, and finally share-holder ratios. We will break down each one of these types of ratios starting with profit ratio. It should be noted that analyzing the individual companies financial performance alone, is not a complete analysis. To have a complete analysis, the ratios should be compared against the industry’s average; however, we will not be covering that in our assessment with SkyWest. Profitability ratios: Profitability ratios generally tell us how well the company is using their resources efficiently. One of the several profitability ratios is the Operating profit margin. This ratio tells us how much profit is earned on each dollar of sales before paying interest charges and income taxes. | 2004| 2005| 2006| 2007| 2008| Operating Income| 144776| 220408| 339160| 344524| 255231| Total Operating Revenue| 1156044| 1964048| 3114656| 3374332| 3496249| Operating Profit Margin| 0. 1252| 0. 1122| 0. 1089| 0. 1021| 0. 0730| Here we see that the operating profit margin has been declining, while the total operating revenue is increasing. This can be interpreted as less money is being made on each dollar of sale. When looking at the operating profit margin ratio higher is better and you want to see an upward trend, since we don’t see that it is cause for concern and should be looked into. Liquidity ratios: Now let’s look into the liquidity ratios. Liquidity ratios measure a company’s ability to pay off short-term obligations by using their liquid assets, one of these ratios is the current ratio. The current ratio tells us how much of the company’s short-term obligation can be covered by using and converting their liquid assets. 12/31/2008| 12/31/2007| Current Assets| 125,892| 122,802| Current Liabilities| 129,783| 118,202| Current Ratio:| 0. 9700| 1. 0389| SkyWest’s current ratio had a small decrease from 2007 to 2008. For 2007 their ratio was 1. 04, and for 2008 it decreased to . 97. The ratio should be higher than 1, however what an acceptable ratio is depends on the type of indust ry as it varies. The fact that their ratio is decreasing could suggest impending insolvency. However to accurately analyze we would need to compare the current ratio to other companies in the airline industry. Leverage ratios: Next we will move on to analyze leverage ratios. Leverage ratios are concerned with the balance between debt and equity. One of the leverage ratios is the debt-to asset ratio. The debt-to asset ratio measure the extent to which borrowed funds have been used to finance the firm’s operations and investments. | 2007| 2008| Total Debt| 3990525| 4014291| Total Assests| 3990525| 4014291| Debt-to assets ratio| 1| 1| Here we see that for both 2007 and 2008 the debt-to asset ratio equals 1; however this is a cause for concern. It would be better if the debt-to assets ratio were a low fraction. A low fraction would indicate that the firm less debt then assets and therefor does not have a high risk of bankruptcy occurring. Activity Ratios: Another area to analyze is how effectively a company is managing its assets this group is called activity ratios. An example of an activity ratio is the inventory turnover ratio; which takes the cost of goods sold divided by the inventory to determine the number of times the inventory is turned over and whether they are carrying excess stock. One example of an activity ratio is the average collection ratio. | 2007| 2008| Accounts receivables| 81216| 55458| Total Sales (Total Revenue)| 3374332| 3496249| Average collection period| 8. 7851| 5. 7897| This measurement indicates the average length of time it takes SkyWest to receive a cash payment after making the sale. The shorter amount of time is optimal. From 2007 to 2008 SkyWest shortened the amount of time by almost 3 days, bringing it to roughly 6 days. Other important measures of financial performance: The last category is kind of a miscellaneous category; however this category is sometimes referred to as the shareholder-return ratio because many of the ratios measure the return earned by shareholders from holding stock in the company. There are other measures as well like the internal cash flow measurement. This measures how much cash a company’s business is generating after paying operating expenses, interest, and taxes (often referred to as NIAT). Years| 2004| 2005| 2006| 2007| 2008| Net income| $81,952 | $112,267 | $145,806 | $159,192 | $112,929 | Depreciation| $76,817 | $115,275 | $189,885 | $208,944 | $220,195 | NIAT| $158,769 | $227,542 | $335,691 | $368,136 | $333,124 | – Key Decisions 1. One of the main points the case covers is the state of the global and national economy. As previously discussed the airline industry and its success is highly correlated with the state of the economy. 2. Another main point that SkyWest should be concerned with is their ability to attract and retain partnerships. Its already been established that SkyWest’s relationship with Delta has been changed to â€Å"it’s complicated† over the disagreement of 25 million dollars unpaid and not going af ter Delta in a lawsuit for the unpaid money for fear of losing their partnership and connected business. As Delta Airlines contributed 59. 9% of SkyWest’s customer capacity. Also their previous partnership with Midwest Airlines which then filed for bankrupt and later was purchased by a direct competitor, which could become larger and more capable; threatening SkyWest’s future. 3. Another issue plaguing SkyWest is the impact of high fuel prices. It is estimated that 30-50% of total costs are from the costs of fuel. This in conjunction with the scope clauses that limit the size of planes SkyWest can operate increases the costs and amount of fuel needed. . The Last problem the case covers is the issue of government legislation and regulations and the effect it has on the airline industry. Safety regulations and labor contracts that limit the number of passenger’s pilots can fly. Along with the issue of planes being grounded to perform safety inspections or the proposals of new legislation like the regulation that was going to require they provide oxygen for passengers that would have added a significant amount of additional costs. 5- Alternatives 1. Economy: Clearly one cannot control the state of the economy, but if SkyWest continues to take advantage of their strengths and repair weakness that are due to partner companies’ poor customer service, human resources and low profits they are likely to be successful when the economy is doing better. While the economic recession continues SkyWest should attempt to renegotiate their agreements with their major carrier partners and cancel flights, when capacity is low, in order to reduce their costs. They need to make sure they maintain competitive prices and not just meet customer’s expectations but also exceed them, this will lead to a stronger customer loyalty hopefully keeping SkyWest out of the red. 2. Partnerships: SkyWest needs to continue to develop their partnerships with major carriers to further diversify the amount of major partners, which would ultimately reduce the risk of being dependent on Delta and United. Also combining efforts would reduce the companies overhead. . Fuel costs: The rising costs and fluctuations in fuel price pose a significant risk as they are the largest chunk of operation costs for the airline industry. SkyWest should plan their routes to maximize their fuel efficiency along with again trying to renegotiate their agreements with their major carrier partners to permit flying larger size planes with more seating capacity; which would therefor create larger economies of scale. 4. Regulations: SkyWest needs to continue to pay close attention to union activity within the ASA Corporation and also continue to avoid labor unions and instead focus on employees through effective benefit packages and employee engagement. 6- Recommended Decisions 1. SkyWest airlines considerably has cash in had it could make a risky move by starting to serve in new countries since they are already exposed to some of the foreign destinations it would not be a bad idea but they must be prepared to face new competitors. This would help the company to offer more international connecting flights and strengthen the operations that already exists for instance in Canada. 2. As we discussed before as a whole the industry is enjoying an accumulated revenue, so at this point making new partnerships may increase the revenue share of SkyWest Airlines and this would help the company to face the unknown future challenges and lessen its affect to SkyWest airlines since the economy is not steady. . Even though SkyWest is well known for being the best at safety of the services rendered it should invest more on researches with the other industry competitors so they could split the cost and enjoy the benefits (joint research agreements). This would help the SkyWest to keep up to the new regulations that is set by FAA, TSA and DOT. 4. In the first quarter of 2009 they had a SkyWest had a revenue loss of $7. million which was merely by ASA because of poor maintains and inefficiency of the flights. Management should ta ke initiatives to reduce these types of inefficiency and integrate a successful system for sustainable growth of the company. 5. SkyWest Inc. should be concerned with the route maps and they should look for opportunities that could potentially help them to expand route coverage with the existing partnerships or to get into new business agreements with new partners. . Management should work closely with the finance department to cut down fuel and maintains cost to earn more revenues in the volatile economy. For instance management should be working together with finance department on hedging for fuel, and they could get into partnerships with smaller companies in the industry to share maintains cost rather than a large air carrier where SkyWest’s needs wouldn’t be considered upon a larger company. How to cite Skywest Cas, Papers

Risk and Social Theory in Environmental Management

Question: Discuss about the Risk and Social Theory in Environmental Management. Answer: Introduction I am currently attached atLeal Technology Company.Leal Technology is an informational technology sales and service provider based in Darwin. The company has been in operations for the past 14 years. I am working at IT help-desk level one as an IT technician where my main duties areassembling PCs and fixing bugs in programs. This paper contains my proposed project. Project scope statement During my internship period, I have noted that one bigchallengefacing thecompany is inability to maintain customer loyalty. Customer loyalty to the brand mainly emanates from the consumer satisfaction derived fromsales and after sales service. Loyalty matters in maintainingbusiness profits and creation of new customers. In this project, I will developan application to manageloyalty rewarding to customers. The loyalty application will enable the company to manage and reward of customer loyalty by creating an interface of interaction. The application will keep records of the customer purchases over a givenperiod as well as records of rewards in different levels to be given to customers. Customers in different levels will be rewarded differently with motivation to get to next level. The application alerts the customer as well as the managementthat a reward is about to be given to a particular customer. The application works with android and windows operating system. Therefore the application will contribute to sustained growth in the company.To developing the application, I will assume that the company will finance the entire project, provide two programmers and the project will generate huge sales. The project is bound to face financial constraints, inadequate time due to time committed to internship and management approval of the project. Finally the applicationmay face theft risk, financial risk and performance risk. Risk avoidance is the kind of risk treatment measure that warrants the client to do away with Symbian operating system phones as they carry a huge risk compared to the benefits(Investopedia, 2016). Risk transfer is the kind of risk treatment suitable to handle the section of a project that is difficult for the company to perform. The treatment involves sharing the risk with another party through contractual terms. E.g. Outsourcing, insurance or joint ventures That has not qualified for a risk transfer. The risk transfer requires that the party bearing part of the riskincur both technical and financial cost to do the project. As for the employment of an expert, the company still incurs the financial cost as well as the technical cost. Employment of an expert qualifies for a reducing the likely hood of the risk occurring(Measham and Lockie, 2012). Risk avoidance activity ensures that, no activities carried out associated with the kind of risk that is more costly compared to the benefits derived. On the other hand, risk acceptance treatment measure accepts the risk involved does not warrant any adequate additional cost(Scu.edu.au, 2016) References Beyondphilosophy.com. (2016).Customer Loyalty | Beyond Philosophy. [online] Available at: https://beyondphilosophy.com/customer-experience/customer-loyalty/ [Accessed 20 Nov. 2016]. Investopedia. (2016).Accepting Risk. [online] Available at: https://www.investopedia.com/terms/a/accepting-risk.asp [Accessed 20 Nov. 2016]. Investopedia. (2016).What is the difference between risk avoidance and risk reduction?. [online] Available at: https://www.investopedia.com/ask/answers/040315/what-difference-between-risk-avoidance-and-risk-reduction.asp [Accessed 20 Nov. 2016]. Measham, T. and Lockie, S. (2012).Risk and social theory in environmental management. 1st ed. CScu.edu.au. (2016).Risk Responses - Risk Management - SCU. [online] Available at: https://scu.edu.au/risk_management/index.php/6 [Accessed 20 Nov. 2016]. ollingwood, Vic.: CSIRO Pub.

Assasination Of Jfk Essay Research Paper The free essay sample

Assasination Of Jfk Essay, Research Paper The Military-Industrial Complex Theory and the function it played in the Assassination of President Kennedy s blackwash proven by Oliver Stone in his film JFK To transgress by silence when we should protest makes cowards of work forces. Ella Wheeler Wilcox This quotation mark begins Oliver Stone s 1991 heroic poem, JFK. This is by no error. Stone is puting the tone for the remainder of his film. President Kennedy s 1963 blackwash still remains today as one of the worst atrociousnesss modern America has witnessed. Questions are raised today, about forty old ages subsequently, was the President a victim of some well schemed secret plan, a confederacy, or was he gunned down by a individual lone gunslinger, as the Warren Commission wants us to believe. This is an highly confusing issue with 100s of different points of position with pros and cons of all. Stone doesn T attempt and turn out nor disapprove a individual confederacy theory he merely tries to open the American public s head to the possibility of a confederacy or even further a coupe de Ta. We will write a custom essay sample on Assasination Of Jfk Essay Research Paper The or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He wants us to believe that possibly all were in on the killing together. Not merely is this a confusing theory to follow, but with the continual flashbacks, fabricated black and white newsreels and powerful quotation marks it merely adds to our ocular roller coaster. Critics against the movie claimed that Stone assorted fact and speculation so seamlessly that it is hard to happen the difference. This manner could be seen as a knock on the movie, but in any propaganda movie there must be falsities and hyperboles to acquire the point across. It merely adds to the movies strength and pressing feeling throughout. Rock presents a theory that seems to sum up all of the confederacies into 1. He calls it the Military Industrial composite theory. The subject takes form from the first ocular image of the movie. We hear President Eisenhower s voice through the beginning credits so a flash to his farewell from office address. This address was when Eisenhower told of the public s compulsion with the weaponries race and rapid growing. President Eisenhower warned the populace of the consequences of such rapid industrialisation military power and harmonizing to Stone was proven correct a few old ages subsequently with the blackwash of President Kennedy. We so see many newsreels of military work forces and the Bay of Pigs catastrophe. Stone tries to etch in your head this history and confusion of the clip period when President Kennedy was assassinated. He shows the problems and inquiries the military and Government are traveling through. The first scene of the film sets the tone for Stone s subject of inq uiry authorization, but likely the most of import scene of the movie is Garrison s meeting with Mr. X. In the heat of the probe Garrison is summoned to Washington D.C. by person who claims to hold extended cognition of the blackwash. There is no record that Mr. X of all time existed so a meeting with him would be impossible, but the scene is important in the support of a confederacy. The scene begins with speedy flashes to many of import American landmarks located in D.C. , the White house, Washington memorial so on. We so see Garrison emerge from The Lincoln commemoration as a adult male summoned by the great work forces of history and democracy to happen the truth for the American people. This seems to be a really dry topographic point to run into since Lincoln himself was besides killed by an bravo while in office. Mr. X so begins to develop his cryptic individuality and proves that he has done close work when he continually looks around nervously and offers a fa lse assumed name. Rock so has Mr. X Tell of his military history. How he was in two wars while in military intelligence making covert, black operations. This builds up his credibleness amongst the viewing audiences. If anyone should cognize of secret authorities operations this adult male should. Stone continually has the camera flash to the Washington Monument and other landmarks. Stone uses near ups to stress points that Mr. X is doing while he switches back to broad lens positions when he wants to demo the relevancy of D.C. and the engagement of the authorities. While Mr. X begins to explicate the entwining confederacy we see black and white newsreels of what he is speaking approximately. He talks of the armed forcess dislike of Kennedy s foreign policy and so the movie flashes to newsreels of the Bay of Pigs invasion and American intercession in Vietnam in the 1950 s. We besides see flashbacks of events many with Mr. X present. This adds to his credibleness and to the possible tr uth of his narratives. Every point made by Mr. X is backed with a ocular flashback to assist us understand and follow the narrative. Mr. X tells of his resettlement to the South Pole and seeing the newspaper the twenty-four hours of the Assassination. The newspaper already had Oswald s background. Precisely like CIA, Black Ops. Style propaganda. More incidents are brought to Garrison s attending by Mr. X that seem to back up the military industrial complex theory. When Mr. X says, All of us in the CIA knew that the Warren Commission was bogus. This shows that no 1 with cognition and Government clearance bought the individual taw theory the Government tried to instate. We so see more flashbacks of political meetings which give us the thought of LBJ s engagement and the high degrees of authorities. More flashes of historical landmarks are shown so comes a stopping point of the Supreme Court and an even more close up of the lettering, Study the Past This is a elusive intimation to seek the truth from history and how history will neer be wholly clear. Kings are killed, political relations is power. This scene is by far the most of import of the movie. For the first clip the spectator is able to visually follow the theory. This is a prefiguration to the concluding tribunal scene of the film where Garrison explains his theory to the jury and the populace. The movie ends in a New Orleans courtroom with the first test of a suspected plotter. This scene is calibrated much like the scene with Mr. X as in both scenes as the Military-Industrial theory is explained we see flashbacks from the film to assist us visualise. The theory is shot down by people who don t believe that that many people could maintain such a secret of this magnitude. Garrison attacks this when he says, The bigger the prevarication, the more people will believe it. We see all the suspects faces flashed while in the courtroom. AS Garrison ends his summing up he appears as he is about shouting. His passion and belief is highly obvious through this action. This movie is three and a half hours of pure strength. The movie begins and ends with the mention to the Military-Industrial Complex. Are common people better off non cognizing these things that could finally ache them. This was the footing of Eisenhower s address and the beginning of the Cold War. Stone relate this to Kennedy s blackwash in his continual support of the theory through the movie, but in how he applies it to the authorities s position of the people being better off merely accepting the lone gunslinger theory. Garrison risks his life to seek and happen the truth. In the words of District Attorney Garrison, Let justness be done though thy Eden s autumn.