Implementing enterprise risk management: From methods to applications. This article elaborates on the motives that makes one undertake certain risks in a business and it uses an example of Ferdinand Megallan in October 1517 where he asked for an investment from king of spain, Charles I, worth 8,751,125 silver maravedis. Magellan’s main objective was to find a westerly itinerary to Asia in order to allow circumnavigation of the globe which was an extremely risky undertaking. And as the results were expected, only like eight percent of the entire crew and one ship out of the four that left were able complete the voyage around the world. Even Megallan himself was not able to complete the circumnavigation as he died in Philippines. Therefore, the main question resulting from this incident, is why would one undertake such a huge risk because Megallan stood to gain only if he succeeded. Whether one is taking a loan or driving a vehicle, individuals must evaluate the risk in the same manner, that is by weighing upsides and limiting the downsides. The objective of the book…
Concepts and Basics of Tourism Destination Management Tourism can be described as traveling for fun and it may include activities such as camping and sightseeing. Rowen (2016) discovered that people or tourist could travel to a place either for cultural or natural tourism and for this to be possible there has to a proper and a well laid out tourism destination management, which can be described as a coordinated management of all elements that make up a destination including attractions, accessibility, pricing and marketing. Natural tourism in a destination is tourism that is based on the natural attractions of the area, while cultural tourism is the tourism that is based on the cultural attractions of the place. There are cultures that are more interesting and more attractive that people will come from far places just to come and see how these cultures operate ad they generally cope up with life. A research conducted by Lim (2020), revealed that both cultural and natural tourism affect the tourism development in an area. They both influence or contribute to the implementation of the…
Annotated Bibliography on Enterprise Risk Management and Risk Management AICPA Staff, (2018). Enterprise Risk Management: Guidance for Practical Implementation and Assessment. Hoboken: John Wiley & Sons, Incorporated. The book outlines the ultimate purpose of every organization that exists in the sector, which is creating value for its stakeholders. Companies have to set goals and objectives, come up with strategies, and plan for achieving them and performing actions to create value for stakeholders. And in the process of executing these plans, enterprises can run into challenges and uncertainties, which requires the management to sough for methods to tackle them, and ERM provides a background where the administration is can address these challenges comprehensively. The article also highlights the importance of implementing and maintaining an effective ERM process because it aids the entire management to increase their confidence in handling the risks the entity is likely to face. The authors of the book also focused on the essence of risk management disclosures to money lending firms before making lending decisions. The objective of the article was to leverage existing conceptual frameworks and…
What are the adverse effects of climate change on the hospitality industry in Canada? A: INTRODUCTION Climate change not only poses a threat to the planet and people but also poses a significant risk to the global economy. The hospitality industry in Canada is an essential resource for the country’s economy and forms one of the major destinations for many international travellers (Jones & Scott, 2006). Despite the continuously increased demand, this sector has to deal with adverse natural phenomena accompanying climate change. Like any other economic sector, climate change remains a critical concern to the hospitality industry in Canada. It has been a victim of its repeatedly (Overview of Climate Change in Canada, 2008). it is necessary to be aware of the possible negative effect resulting from climatic change, Considering the potential economic contribution of this industry, phenomenon. Research Question: What are the adverse effects of climate change in the hospitality sector in Canada? Thesis statement: Although climate change affects nearly all economic sectors in Canada, the hospitality industry is negatively affected by travel and tourism. Supporting argument #1…
Tips to Starting a Sunless Business|How to Start a Sunless Business|A Guide to Starting a Sunless Business {Over the past few years, sunless tanning business has grown in popularity due to the benefits that people get from the services.|Sunless tanning business has grown in popularity over the past few years due to the benefits that people get from the services.|Due to the benefits that people get from sunless tanning business, it has grown in popularity over the past few years.} {In addition to the several benefits that come along with using sunless tanning, the business has grown in popularity since it is one of the profitable entities in the market today.|Sunless tanning business is one of the profitable entities in the market today, and that is another reason as to why it has grown in popularity in addition to the other several benefits that come along with it.|Not only has sunless tanning business grown in popularity as a result of the several benefits that come along with using them but also because it is one of the most profitable entities…
An analysis of complete business solutions Australia In the below text of report of comprehensive business solutions, the questions we are going to embrace is from how the business was started that is mainly regarding the products they implemented away from other business in essence to attract their customers. That is from how they grew from a small business to a multi-international business company, also the primary means of management they used to implement their business enlargement and even that of their company. Another major important question that we are going to embrace is the way they promote their products, which is mainly the ways of advertising and also how they deliver their services and products. Regarding the case of goods and services, we are also going to analyze their financial status and the modes of employment that they implement favouring their customers. Lastly, another question we are going to embrace is the means of communication they use and how their company is related to technology In the case regarding developing and implementing continuous improvement of the Complete Business Solutions,…
American Business Before 1920 Economic liberation is the reduction or complete elimination of the restriction by the government to the private business and trades. An example includes the European Union, which liberalized market electricity and gas instituting a competitive system. Socialism is the political and theory of the economy that advocates for the production, destruction, and the exchange of the owned regulations by the whole community. It includes the methods which are politically based and the associated movements. During the 20th century, the economic system, which was the oldest, became extinct virtually, and only the significant economist left were either the type of commanding in the market, (Martin, Edward, Rodolfo, Torres, and Mateo 2018, 28-29). Following the civil war, the political system in America drifted further in the faire capitalism as the state government and the level of federal passed the laws which regulated the market. This essay would explain the economic command in the market by categorizing fashion, which is neutral for several dozen terms, which are used in the description of the middle way. Since the 19th century,…
American and Chinese Economies Introduction A comparison between economies across the globe continually plays a pivotal role in economic planning processes. As such, economic planners and many interested parties are increasingly exploring how American and Chinese economies compare and contrast. These economies have emerged as the largest in the world in both Purchasing Power Parity (PPP) and Nominal methodologies. While the Chinese economy historically is driven by state-owned companies, its counterpart is reliant on independent private investors. Therefore, exploring how American and Chinese economies differ or compare in terms of using global, ethical, political, physical, and societal indicators presents an opportunity to draw valid economic conclusions pertinent to economic planning. Relationship to Capitalism and Democracy The political lens presents a chance to compare and contrast the sizes and growth rates of both economies in connection to capitalism and democracy. Kahn (2019) asserts that the Gross Domestic Product (GDP)growth rates of 2.3% and 6.9% annual changes make the U.S. and China developed countries, respectively. Notably, the United States (U.S.) growth rate depends on a political-economic system commonly described as democratic…
Case Study:-Allentown Corporation Abstract Leadership is an essential tool in any organization. Successful managers make use of sufficient and adequate skills of leadership as crucial tools of profitability. A primary reason for having this particular analysis is to showcase how AMC failed due to a lack of proper skills in leadership. This specific paper makes use of a case studies analysis-based methodology that effectively finds the main problems in Allentown, diagnose, causal proof, and present an efficient plan of action that is supposed to be used by the management to solve all challenges faced. Problem Definitions: The main problem at AMC can well be, therefore, termed as poor performance, improper managerial ability, and skills. Poor leadership skills get witnessed across various departmental offices, which turns the making progress of decisions too tricky. Therefore, with these factors, they yield poor motivation towards employees, reduced development, and growth of employees. The process of change is, therefore, done in a way that subjects the organization towards more enormous challenges. Diagnosis The current problems depicted at Allentown Materials Corporation can get well explained as…
All You Need to Know When Hiring a Social Media Audit Firm – NetBase Social media marketing is increasingly gaining popularity. As the number of social users grows across social networks, more and more brands find it convenient to drive awareness for their brands. Since competition is stiff, it is essential to check on the progress of your brand these platforms. An effective way to gauge your brand performance on social platforms is to conduct a Social media audit. It will enable you to have a clear record of your business and identify any gaps that may need improvements. To achieve an effective social audit, its recommendable to hire a qualified and reputable firm. How to Choose the Best Social Media Audit Company Qualifications: Hiring a social media audit firm is a crucial decision. Meaning you’re finding a partner whom you’ll rely on a long term basis to provide vital company insights to business drive growth. Therefore, you should ensure that the firm you hire has high expertise in the industry. Make sure they are accredited and registered with relevant…