Planning and conducting research Proposal Example | Topics and Well Written Essays - 2000 words

Planning and conducting - Research Proposal Example It usually includes interaction with potential customers regarding their work, interests, opinions, trends and buying habits as well as paying attention to customer insights for future plans regarding products and services. The purpose of market research is to: 1) know the customer needs and wants; 2) to know if the customer is satisfied with the product or need; 3) identify potential target markets; and 4) establish the best advertising strategy for a given group of customers (Bull, 1994). The purpose of this study is to determine what particular research method is deemed effective in addressing the shortcomings, from the planned success, the consortium has experienced in the past three years. As a consortium of twenty-five tour operators in the United Kingdom that sells about 100 holidays and has 6000 customers that have already placed orders in the past, it is important to know which part of the services provided by the operators is most liked and least liked by the customers. The primary aim of this paper is to determine what are the services that need to be upgraded and services that are unnecessary. This paper will try to present a method that will be able to answer the following questions. This study is operated under the quantitative paradigm wherein the survey method will be utilized in order to elicit the relevant information needed to complete research (Frankfort-Nachmias & Nachmias, 1992). Besides, quantitative research plainly and distinctively specifies both the independent and the dependent variables under investigation (Matveev, 2002). It also follows resolutely the original set of research goals, arriving at more objective conclusions, determining the issues of causality and eliminates or minimises subjectivity of judgment (Kealey & Protheroe, 1996). The research variables were primarily analyzed in order to provide description on the factors that concerns the topic of the study. The variables of the study imply quantitative research wherein the data, situations, or other facts collected will be explained or correlated with other data. Basically, this research based its findings through quantitative research methods because this permits a flexible and iterative approach. Through this method, qualitative elements that do not have standard measures such as behaviour, attitudes, opinions, and beliefs are analysed. As such, the information that the informants of the study shared to the researcher will be accordingly examined, analysed and interpreted to answer the research questions presented. In order to gather the necessary data, the research will employ the survey method. The survey method will be implemented in three successive data collection procedures. These include the pretest of the questionnaire, the actual survey, and the back-checking after the analysis of the data. The pretest of the survey is necessary in order to identify possible shortcomings of the instrument that may hinder the efficient collection of valid and reliable data. On the other hand, the back-checking that will be implemented is to provide assurance that the results of the analysis are consistent with that of the available information and facts in the field. This research

Risk Assessment and Risk Management Essay Example | Topics and Well Written Essays - 1500 words

Risk Assessment and Risk Management - Essay Example The essay "Risk Assessment and Risk Management" talks about the knowledge bases in risk assessment and risk management and the consensus-based model of risk assessment. The knowledge base is the foundation of any profession; this refers to a body of specialist knowledge, which acts as the base of professional practice. Therefore, it has become increasingly essential for individuals and organizations to demonstrate underpinning knowledge base while undertaking any task within human services, aimed at achieving professional status. In the development of a framework for risk assessment and risk management, three interweaving features of knowledge bases are needed: theoretical knowledge, practical or personal knowledge, and factual knowledge. The theoretical knowledge base includes the existing literature that analysis risk incidents, situations, or events, literature that analysis our role and tasks in risk assessment and risk management, and literature that offers guidance on the pract ical approaches to be followed in assessing and managing risks. Practical or personal knowledge base refers to the practical skills or knowledge that is acquired at workplace related to risk assessment and risk management. These practical skills may be acquired through training, or through learning from experience, which leads to new knowledge. Finally, factual knowledge refers to the professional standards, rules, regulations, and ethical values developed in the past to provide guidance during professional practice.

Zoologist Career Essay Example | Topics and Well Written Essays - 500 words

Zoologist Career - Essay Example This paper represents the facts about the zoologist career opportunities in a modern world. It describes the wide range of organizations a zoologist has a choice to work in and analyzes if it is profitable to work as a zoologist. It also talks about the necessary qualification for this profession and how a person who chose this career can get required skills and actual practice. As zoology is the scientific study of the structure, behavior, evolution and function of animals, therefore it can lead one to work in various institutions as a public health officer, for example, in industrial settings, museums, law firms, government institutions and even in the education sector. Other potential employers include cosmetic companies, agricultural departments, aquariums, and pharmaceuticals. With such numerous options to choose from, one’s interest goes a long way in making the right choice once a person receives the necessary academic qualifications. Although the duties performed by zoologist differ a lot, in many cases they engage in laboratory work and research. In order to pursue a career as a zoologist, one must have an interest in biological sciences and in particular they must love to work with animals and high levels of commitment. It is prudent for zoologist career to volunteer services to zoos and other zoology-related organizations as an intern. And like in numerous other occupations, it is much easier and more profitable to get into the profession with adequate academic qualifications.

Fasibility on Generic Pharmacy Essay Example for Free

Fasibility on Generic Pharmacy Essay INTRODUCTION According to http://en.Wikipedia.org/wiki/Pharmacy DRUGSTORE is a common American term for a type of store centrally featuring a pharmacy. Drugstores sell not only branded and generic medicines, but also miscellaneous items such as candy, cosmetics, and magazines, as well as light refreshments. During the height of the war on drugs, many stores removed the term Drugstore from their signage and replaced it with the more politically correct term Pharmacy. A PHARMACY is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs. The scope of pharmacy practice includes more traditional roles such as compounding and dispensing medications, and it also includes more modern services related to health care, including clinical services, reviewing medications for safety and efficacy, and providing drug information. From http://en.Wikipedia.org/wiki/Drugstore A GENERIC DRUG is a drug defined as a drug product that is comparable to brand/reference listed drug product in dosage form, strength, route of administration, quality and performance characteristics, and intended use. It has also been defined as a term referring to any drug marketed under its chemical name without advertising. Although they may not be associated with a particular company, generic drugs are subject to the regulations of the governments of countries where they are dispensed. Generic drugs are labeled with the name of the manufacturer and the adopted name (non-proprietary name) of the drug. A generic drug must contain the same active ingredients as the original formulation. http://en.Wikipedia.org/wiki/Generic_Drug BRAND-NAME DRUG a drug that has a trade name and is protected by a patent (can be produced and sold only by the company holding the patent). http://audioenglish.net/dictionary/brand-name_drug A DRUG is a substance which may have medicinal, intoxicating, performance enhancing or other effects when taken or put into a human body or the body of another animal and is not considered a food or exclusively a food. http://en.Wikipedia.org/wiki/Drug In addition to being operated as a private business and selling affordable medicines, our pharmacy are also catering free services such as free medical consultations and check-ups. We are willing to help our fellow Filipinos by giving discount in their medicines especially in terms of calamities like those people who is flood victims and typhoon, our pharmacy is willing also to give substantial discounts to those who would like to buy medicines for donation purposes. In recent years, people demanded for cheaper medicines because of the change in the quality of living. At the same time the generic medicines industry is growing through the years and there are provisions that supports the selling of generic drugs in the Philippines which is R.A. #6675 which is an act to promote, require and ensure the production of an adequate supply, distribution, use and acceptance of drugs and medicines identified by their generic names. Our business proposal is a generic pharmacy. 1.1 COMPANY DESCRIPTION The proponents, Ms Asio, Charis Ann, Ms. David Divine Grace, Ms. Garay, Rosalie, Ms. Llanza, Buengie, Ms. Manto, Noreen and Mr. Montallana, Reynaldo will manage and supervise the entire operation of the Medicure Generic Pharmacy, an unlimited liability company. The proponents combined efforts in the creation of Medicure Generic Pharmacy have serve to come up with detailed plan that encompass the important elements required to succeed in today’s competitive pharmacy environment. In closing, we feel the business plan for Medicure Generic Pharmacy represents a realistic expectation of success for all parties involved. Moreover, we will be providing a benefit to the community by providing a great product and secure jobs to community residents. LOCATION The proponents decided to place the pharmacy in the corner of Jalleville Subdivision along Quirino Avenue San Dionisio Paranaque City based upon the facts that all potential pharmacy locations is far from the Our Lady of Peace Hospital. Our propose location are located in closest to hospital and also it is in the corner which many Barangay’s are located. It is also along in the Quirino Avenue which is most of the passengers and car owners from Las Pinas, Pasay and Paranaque City are pointing this road. CAPITALIZATION Establishing a Generic Pharmacy apparently needs capitalization. In approximation, the proposed business will cost P 1,390,000.00. The 65% of capital will be funded by the proponents and the remaining 35% are loan from the bank. Charis Ann AsioDavid Divine Grace| Php 150,583.33 150,583.33| Garay Rosalie| 150,583.33| Llanza Buengie| 150,583.33| Manto Noreen| 150,583.33| Montallana Reynaldo| 150,583.33| Capital ContributionBank LoanTotal Capital Investment| 903,500.00 486,500.00 Php 1,390,000.00| START-UP SUMMARY The Medicure Generic Pharmacy will incur the following needed start-up cost. * Office Furniture’s and Fixtures * Chairs * File cabinets * Desks * Machineries and Equipments * Computer server with a laser printer, and a back up system, installed with software; Microsoft Office, QuickBooks pro, drug interaction software, Physician Desk, Reference Software detailing side effects and other information pertinent to the customers * Two front counter, storage bins, cash registers * Refrigerators * Air-condition * Store Supplies * Envelopes * Ribbons * Bond papers * Ball pens * Tape * Staples and stapler * Trays * Plastic bags etc. * Store front build out * Signage * Logos * Paints etc. * Lease * Star-up inventory * Generic medicines * Miscellaneous items * Working capital * Contingency fund * Legal fees * * BIR * SEC * MAYORS PERMIT * BUSINESS PERMIT * MERALCO * NAWASA BREAKDOWN OF START-UP COST Office furniture’s fixtures Php 160,000.00 Machineries Equipments160,000.00 Store Supplies 50,000.00 Store Build Out200,000.00 Start-Up Inventory450,000.00 Legal Fees 70,000.00 - Working Capital300,000.00 Total Capital RequirementPhp1, 390,000.00 VICINITY MAP Medicure Generic Pharmacy 1.2 BUSINESS CONCEPT MISSION †¢ To offer the widest range of quality affordable generic medicines putting customer satisfaction above all by serving our clients’ needs efficiently, effectively, providing friendly and professional counseling. †¢ To recognize the importance of our employees in achieving our aspirations, and to keep them highly motivated based on the principles of fair compensation, meritocracy and respect. †¢ To educate the public about quality generic medicines and to provide various community services to fulfill our social responsibilities to our countrymen. VISION THE MEDICURE GENERIC PHARMACY aims to be the leading national chain of drugstores offering quality and affordable generic medicines with superior customer service that will satisfy the customers need. VALUES * Integrity We will commit to truth and honesty in what we say and do, and practice high standards of fairness and ethics at work and in our relationships. * Customer Satisfaction We will serve and interact with our internal and external customers as best as we can, in a professional and friendly manner. We constantly look for innovative products and services that will answer their needs. * Excellence We will aim high in everything we do and continuously seek to improve our level of performance. * Team work We will communicate and cooperate with one another, working together in an harmonious way to achieve the company’s goals. * Respect for the Individual We will show respect, appreciation and concern for every person. We engage in positive relationships based on mutual trust. * Social Purpose We will do believe that it is our responsibility to help the community and our countrymen. We recognize that the nature of our business, especially the corporate focus on quality affordable generic medicines, gives us a unique opportunity to make a very positive contribution to the health of the communities that we serve. TAGLINE Mabisang Gamot at Serbisyong Maaasahan GOAL The Medicure Generic Pharmacy long term goal is to become the number 1 generic drugstore in the Philippines offering a very effective and efficient customer service and having a strong sense of social purpose. HISTORY The proponents come up with an idea of putting up a Generic Pharmacy catering to customers when some of the proponents made a research in one of our major subjects which was Marketing Research. The research was entitled The Perception of the Consumer on the Effectiveness of Generic Medicines in a selected Barangay in Paranaque City. This completes its essence of the outcome of the research and will serve as a basis for future studies on business. We also agreed to come up with a business that was related to our research as mentioned which is a Generic Pharmacy. Since we already have the idea that this kind of business will have a chance in the market due to the needs of the consumers of affordable quality medicines. Since we are Business Administration students major in Marketing Management we are applying all what we have learned. The propose name of our business would be Medicure Generic Pharmacy. â€Å"Medi† is a short word of medicine and â€Å"Cure† means recovery or relief from a disease. We decided to have this catchy for an easy retention to our clients or customers. VENTURE DESCRIPTION The proposed establishment is a generic pharmacy named Medicure Generic Pharmacy. We will be able to sell generic drug prescriptions at reduced prices by carefully maintaining efficiencies and effective operations and by targeting a specific segment of the market or with over the counter and prescribed medication to our customer. Aside from catering generic medicines, we will be able to sell miscellaneous items such as cosmetics, tissues, toothbrush, candy, magazines, as well as light refreshment and etc. We believe that providing over†the†counter (OTC) medications that compliment prescription and miscellaneous items can create a â€Å"one†stop†shop† for the customer. For employees, a more comprehensive line of front†end and over the counter items that consist of items that may be needed during the work day such as tissues, toothbrush can create an added customer convenience. In both instances, providing non†prescription items can eliminate the need for the customer to travel to other settings that offer prescription services. When considering non†prescription items for product placement, durable medical equipment (DME) should also be considered for resell. By focusing on this segment it gives us additional efficiencies we avoid disruptions in cash flow often associated with insurance payments and we can eliminate unnecessary services for the type of knowledgeable, repeat customer taking maintenance-type medication. Our pharmacy will operate from one store that will serve walk-in customers or those persons visited personally and buying over the counter. We will thrive by employing friendly and knowledgeable personnel, which, along with our great prices, will drive the repeat business that we will rely upon. We only expect that as the price of medication continues to skyrocket, the pharmacy will appeal more and more to the customers sense of value and convenience. Concept Description and Statement The Medicure Generic Pharmacy is a business venture that sells generic medicine to customers prescribed medication. We sell also miscellaneous items such as candies, cosmetics, toiletries, baby care products and medical or surgical products to customers for a one-stop-shop experience. We believe that in selling other merchandise assortments except for a generic medicine will serve convenience to our target customer. Our propose location is in the corner of Jalleville Subdivision along Quirino Avenue San Dionisio Paranaque City with a lot area of 25m long and 20m wide. It consists of two (2) POS, shelves, waiting area with seats, parking lot, fire extinguisher in case of emergency and a room for employees with one (1) comfort room. We put three (3) computers with systems including the price per quantity item. This will help the customer to canvass the price for their prescribe medication and other items by asking a pharmacist. We put a storage area where we can store our new delivered products. The pharmacy is fully air conditioned to maintain the quality of our products especially medicines. We hire people to man the pharmacy in a day to day operation. It consists of a one (1) General Manager, Supervisor, Registered Pharmacist, and three (3) Pharmacy Assistant. The Medicure Generic Pharmacy anticipates serving continuously from seven (8) o’clock in the morning up to nine (9) in the evening everyday from Mondays to Sundays. The expected table of operation are as follows.

Different control sensors Essay Example for Free

Different control sensors Essay The idea of a pressure sensor is to ultimately measure and monitor the pressure of either gasses or liquids. But, what is pressure? Well, pressure ultimately is an expression used to describe the process of the force that is used when restraining a gas or a liquid from expanding. It has a certain measurement normally in the force per unit area. When the pressure is measured it can be monitored in a number of ways, but, most typically it is done with an electrical signal. We can see many examples of pressure monitors/switches in appliances all over the world today. Pressure sensors are found in items such as cars and lifts. For example, a person walks up to a door and they wish for it to be opened on arrival, with a pressure switch located in the floor as soon as the pressure switch is activated the door will open, this form of switch will tend to require a form of displacement. Another example if where a pressure switch/monitor may be found is within a car. When the tyres reach a certain pressure the control system kicks in and then they are warned to pump them up. If we consider large industries such as factories with combustion engines then we need to bear in mind that there needs to be some form of indication when present conditions change within the mechanism, this is also where a pressure sensor will come in handy. The picture on the top left of this paragraph is similar to what may be found in an industrial placement. A Rotary Switch A rotary switch is used when we have a devise that needs to operate or change to two or more different states, for example, a rotary switch may be used for; A fan that regulates heat at different speeds A radio that needs to operate on different frequencies The most common type of rotary switch is the rotary light switch, and the way in which this works is pretty straight forward. A rotary switch is a device that has a rotating shaft connected to one terminal capable of making or breaking a connection to one or more other terminals (the rotating shaft can be seen in the picture on the left) to many other types of electrical switching mechanisms, the electromechanical rotary switch provides a desirable means to control large numbers of circuits over a wide range of currents, voltages and power requirements. Rotary switches provide electrical control for the following types of equipment; Medical equipment, Aircraft, computers, Â  Industrial controls, Â  Communication, Â  Ordnance, Â  Ground support equipment Different types of rotary switches are used in a variety of electric devices. They are in the form of at least two parts and have a rotatable switching means arranged in a grouping and a rotary knob having a coupling element which can be pushed into or onto the switching means. The rotary switches are provided with a contact/sensor system and with a detent mechanism. The detent mechanism determines the number of possible switch positions. Rotary switches may feature different switch positions that can be set by rotating the switch spindle in one or another direction. Rotary switches may convert positions into binary numbers; such switches are known as coded switches. A rotary electromechanical encoder includes the overall characteristics of a rotary switch, but has additional mechanical movements. Pyrometers A pyrometer comes in very useful in industrial places where measuring and controlling inputs and outputs of a computer system become far too dangerous for a human to undertake the responsibility. It is often used to determine and control the temperature; however, it can also be used for radiation purposes. The word pyrometer is derives from the Greek word for fire, and the Greek word for measure, which is meter. As previously said, pyrometers are optical aids and although now days there are many forms of pyrometer as the need for more specific, demanding control systems are required the most basic still works on the principle below; On the previous page we can see how a basic optical pyrometer works, the only problem being that it can display temperatures that are high (up to around 700oC, but is inefficient for very low temperatures. As temperature inside the work place/furnace increases, so does the filament inside the pyrometer giving off a red colour, indicating the heat capacity. Using digital readouts the user can use the pyrometer to calculate the temperature of the material and also use the pyrometer to heat the material or furnace, or wherever the control system is placed to whatever they require. Thermocouples A thermocouple is a very simple heat/temperature sensor and comprises of two components. One end is joined tightly and the other end is separated. It is the end that is separated that is considered to be the output of the control system, and this is the end that actually generates the voltage. This voltage is then proportional to the heat or temperature to which it is measuring. This then means that the hotter the temperature the more voltage is output. Below can be seen the two most commonly found applications of thermocouples; Measuring room temperature Monitoring the presence of a pilot light It is the actual materials used within the control system that determines the application. There are then thermocouple types derived which can be used for differing purposes. Thermocouples are easy to use and require no batteries or fancy electronics. However, the voltage signals generated are very small so an amplifier may be required if you wish to read the temperatures into a computer Control System Thermometers Control system thermometers consist of a normal day to day thermometer thats connected to an electric circuit. Then, when the heat/temperature reaches a certain level it can be indicated or displayed in a number of ways, for example if connected correctly we could have it so that the temperature, when it hits 20, displays a red light located somewhere else, and, then when it falls below the light goes off. Inductosyn The idea of an inductosyn is to read the measurements of current within a system and then make extremely accurate measurements or movements based upon these readings. The principal in which it works is as follows. Incremental Absolute An inductosyn has a metal block in which grooves are cut out. Along these grooves are continuous strips of magnetic metal, then, a current is passed from one end to the other. The sliding block has an identical strip set in to it completes the circuit when connected with the other strip. Now we have the possibility of resistance change, by sliding the sliding block from one end to the other we have a system that changes the resistance of the circuit. This then increases and decreases the current accordingly. This is then output to a display which the user can see. This relationship between current and movement can then be used to move objects very small distances with a tremendously high degree of accuracy. This is all based on the current. Thermistor A thermistor is a type of resistor that varies resistance in a computer control system according to the temperature readings. Thermistors are thermally sensitive resistors whose prime function is to exhibit a large, predictable and precise change in electrical resistance when subjected to a corresponding change in temperature. A temperature sensor application would be compared to that off the one found in a central heating system. A sensor would detect the temperature in the air, by using a thermometer and then change as desired using something like a thermistor. The thermistor would act as the thermostat. Therefore, when the thermostat is changed, we can change the output of the heating system accordingly. The thermistor is widely used and often unknown to the untrained eye. Linear Limit Switches The theory behind the linear limit switch is very straight forward. Basically the linear limit switch is a button, that when activated starts a process. In relation to computing its like an event drive operation. For the linear limit switch to be activated it must be pressed. For example, in a lift, how do we get the lift to stop going up, or, stop going down, or stop on the right floor. It would be of my opinion that a linear limit switch is implemented, so that when the lift reaches the required floor, a switch is activated and the lift stops and the doors open. However, its not limited to lifts, the linear switch is a very common device. In the picture on the left we can see a clear example of a linear limit switch. The operation needed to be performed is for that of the swimming pool cover, when the cover reaches the end of the pool the switch is pressed and the motor stops working, this then stops the problem of the cover falling off of the reel.

A risk management strategy

A risk management strategy Introduction This report details a risk management strategy for a given organization based on Australian Standards AS4360. Risk Management Strategy details: 1 2. Rationale for managing risks and risk management objectives All companies face risk. The main rationale for managing risk is to reduce the likelihood of project failure, be it financial, schedule or performance based. A formal risk management strategy provides a structured way to highlight threats to a project success. The strategy provides advice to the project team and management to benefit the organization as a whole by assisting in the decision and planning process, identifying opportunities or threats and gaining value from changing situations. The strategy takes a proactive approach to management and allocates resources more efficiently. Reduction of loss can be reduced and stakeholder trust is improved (Australian Standards, 2004). A balance between being able to take action on opportunities versus protecting the company against loss must be decided upon. Risk management should be part of company culture so that everyone in the company has a role to play and is aware of risk management. In the early days insurance was how organizations managed risk but now it is an essential part of all management teams. According to Sadgrove (2005), there are two types of business risk, non entrepreneurial risk and entrepreneurial risk. Non entrepreneurial is for example company fraud, theft or fire. Entrepreneurial risk is for example the opening of a new shop or produces a new product. It is in the best interests for the company directors to manage risk as it applies to all manage decisions. Risk is a pre-condition for innovation, a key ingredient of a successful company (Sadgrove, 2005). Risk management objectives are to reduce company cost, disruption and unhappiness (Sadgrove, 2005). It rates which activities are worth investigating for risk and which activities do not present current risk. By identifying risks earlier, managers can better plan for their possible occurrence in the future. Further objectives and benefits to the company include improved planning, greater resource efficiency, more timely scheduling, prevention reduced costs, improved company reputation, less surprises, enhanced communication between managers and staff, reassurance of stakeholders, higher quality products and more flexible and robust contingency plans (Carol and Elizabeth, 2005). As indicated in AS4360 when formulating objective for a risk management process, they must take into account the internal and external environmental factors (Australian Standards, 2004). Risk management is growing in importance these days for a number of factors. These include tougher legislation, more expensive insurance, customers less likely to accept product failure, higher standards for public image and changing management attitudes to a more global outlook. 3. Risk strategy issues According to Sadgrove (2005), issues covered by a risk strategy may be based on operation, strategic, compliance and financial issues. Operational issues include risks associated with employees, suppliers or natural events such as rain. Strategic issues include other markets, the economy and legal issues. Compliance issues may be accounting standards, tax requirements or government legislation. Financial issues include cost issues, interest rates and profitability concerns. The areas covered by the risk strategy will be influenced by the requirements of the company and its objectives. The products and / or services it supplies and the processes and practices used by the company will also affect the type of risk strategy employed. 4. Acceptable risk tolerance. According to Fischoff, Lichtenstein, Slovic, Derby and Keeney (1981), acceptable risk describes the likelihood of an event that has two factors. Firstly, the chance of occurrence is small. Secondly, the consequence is small. s are so slight, or whose benefits (perceived or real) are so great, that individuals or groups in society are willing to take or be subjected to the risk that the event might occur. The stakeholders and managers often determine acceptable risk factors. It is based on their perception on what they believe constitutes firstly a risk and secondly whether or not it is an acceptable one. An acceptable risk determination can vary and depends on factors such as differences in values, different requirements, project assumptions, concerns, concepts as they relate to the project being considered. According to AS4360, (Australian Standards, 2004), a team approach is very effective in determining and identifying risks more effectively. Risks are compared against a set of criteria from which priorities are set. The decision is then made to either treat the risks if they are deemed unacceptable or to continue to monitor and review the risks if they are currently viewed as acceptable. The risk criteria which is used to determine whether a risk a acceptable or not is based on financial, operational, humanitarian, legal, technical, social, environmental, or other criteria. The risk is evaluated and decisions are made about which risks need attention. The company or organization must make a decision on how much risk it is willing to accept as part of normal business practice. This level can then be set as the benchmark and gives the company a tolerance level to work with. This tolerance may depend on the maturity of the risk management plan, experience of management, data available f or consideration and other important factors. Some firms want to accept new ventures with higher risks while other companies want to maintain a steady course. Often young companies with less to lose will take larger risks where as older individuals may not wish to risk as much (Sadgrove, 2005). The acceptable risk tolerance depends on the reward. As the risk increases so to must the reward in order to make it worthwhile. 5. Risk infrastructure, management, identification, assessment and treatment. A company, which has a risk management strategy in place, needs an appropriate policy plan and an adequate support system in place to ensure the strategy is implemented correctly (Australian Standards, 2004). According to AS4360, in assessing the risks once they have been identified, there are three general types of analysis. These are qualitative analysis, Semi-quantitative analysis and Quantitative analysis. Qualitative analysis may be used as an initial tool to identify preliminary risks which are to be analyzed in more detail later. It should be combined with factual information when it is able to be sourced. Semi-quantitative analysis must be used with care since the data chosen to support the qualitative words may be misleading that can lead to inappropriate outcomes. Quantitative analysis depends on the accuracy of the numerical values and they may be expressed in terms of the criteria initially set by the risk identification. According to an article by the Project Management Institute (Project Management Institute, 2008), if you dont identify risk areas and have a response plan then possible tough times may be ahead. By beginning with a brainstorming session, and including a wide cross-section of stakeholders from many levels throughout the company, possible problems on the way to success may be identified. Ms. Reed, a vice president of an American project management firm notes that when running such meetings criticism should be left at the door, otherwise it may turn into an unorganized discussion. 6. Risk management responsibilities. Risk identification, assessment and treatment. System review, documentation and maintenance. Responsibilities for the risk management process should be detailed in the risk management plan and this plan should also detail how the plan shall be conducted throughout the organization. Treatment plans may either be separate from the risk management plan or included with it. An example of an organization which follows the AS4360 guidelines is the State Records Department of the New South Wales Government in Australia (NSW Government State Records. 2009). With their plan, senior management are allocated the responsibility of ensuring that the risk analysis, identification and assessment procedure are implemented regularly. They are also responsible for managing the budget allocated for the risk management strategy and ensuring that it is implemented to protect the records and systems of the State Records Department. The review of their systems is continuous as is stated in the AS4360 guidelines. According to the AS4360 guidelines (Australian Standards, 2004), few risks remain static. Continual review is essential to ensure that the risk management strategy remains relevant. The Risk Assessment will be continuously monitored and updated throughout the life of a given project, with monthly assessments included in the status report and open to amendment by the Project Manager. The company senior directors and executives are responsible for managing risk in their organization. All employees are responsible for the risk management within their given areas of managerial responsibility. The risk management plan can be broken down into specific sections based on different functions and areas within the project. Each area should have a separate plan, consist with the main company risk management plan, that details risks most relevant for their particular team and sub project requirements and concerns. The project manager for each team is responsible for the management of each risk management plan and ensuring his or her team is under the watch of the localized plan. This manager must also however ensure that the risks of the organizational risk management plan are also kept in mind. The senior staff of an organization must also be committed to the risk management strategy of all these senior managers (Australian Standards, 2004). Documentation to record details of risks must be generated to record priorities and highlight changes in risk priorities. Reports should record treatments and if incidents occur the lessons learned should be recorded. The entire risk management plan system progress should also be documented as a whole. 7. Risk management documentation requirements. A common tool used in the documentation of risk management system is the risk matrix. The risk matrix is a table used in risk analysis in which rows show the risks and columns show their likelihood or probability of occurrence and their impact. For each important business function or area, a risk matrix can be created. Often numerical values from one, meaning no impact, to five, meaning maximum impact, can be assigned for each function. This simple approach to documenting risk can provide a useful set of raw data from which appropriate plans can be devised. Many larger organizations also use this simple approach (National Computing Centre, 2009). 8. Risk management system budgets and its determination. Such a risk management strategy has a cost associated with it and this cost must be balanced against the cost of the potential loss if it were to occur (Microsoft Press, 2009). Through the application of risk management methodologies, a company can manage risk levels so that it does not reach a determined unacceptable level. The budget size for a risk management system will of course depend on the size of the company, its complexity and the responsibilities of the manager in charge of the risk management program (Sadrove, 2005, p55). A good policy is to make the risk management services free to departments and only charge the departments when they make a loss. By charging them when mistakes are made the managers are more likely to seek help and pay more close attention to the risk management strategy. This is better than just waiting for an issue to occur. Too much investment in risk management will burden the company and make it uncompetitive. Underinvestment in risk management will make it more vulnerable and likely to receive expensive incident costs. The optimal position is somewhere in the middle (Sadgrove, 2005, p14). Mochal (2006), shows that a risk management system budget can be established by basing it on the Expected Monetary Value (EVM) index. For each risk there are two parameters assigned. Firstly, the probability that the risk will occur and secondly the impact to the project if the risk occurs. If this is completed for all the risks the potential impact to the project can be calculated. Hence the risk management system budget should reflect the impact of the risk and the likelihood that it will happen. According to AS4360, if the budget for the risk management system is restricted, there should be a clear priority order for the risk treatments. 9. Risk management policy approval and its source. Senior management should review and endorse the risk management policy for an organization. The source of the policy should come from all higher end managers concerned as well as all concerned stakeholders. Dialogue with key internal and external stakeholders should be undertaken as to avoid a one way flow of information. Stakeholders often have different views on what should be ranked as high-risk priorities due to factors such as differences in values, requirements concepts and concerns about the project concerned (Australian Standards, 2004). References Alexander, C., Sheedy, E. 2005. The Professional Risk Managers Handbook: A Comprehensive Guide to Current Theory and Best Practices. PRMIA Publications. Fischoff, B.; Lichtenstein, S.; Slovic, P.; Derby, S. L.; and Keeney, R. L. 1981. Acceptable Risk. Cambridge. UK, Cambridge University Press. Microsoft Press. 2009. Why Manage Risks Formally? Retrieved on 5th October, 2009 from http://msdn.microsoft.com/en-us/library/cc500373.aspx Mochal, T. (2006). Create a risk contingency budget using Expected Monetary Value (EMV). Retrieved on 5th October, 2009 from http://articles.techrepublic.com.com/5100-10878_11-6069576.html National Computing Centre. 2009. A matrix approach to risk assessment. Retrieved on 5th October 2009 from http://www.nccmembership.co.uk/pooled/articles/BF_WEBART/view.asp?Q=BF_WEBART_113283 NSW Government State Records. 2009. Risk Assessment. Retrieved on 5th October, 2009 from http://www.records.nsw.gov.au/recordkeeping/government-recordkeeping-manual/guidance/guidelines/guideline-5/guideline-5-part-3 Project Management Institute. 2009. Risk Identification Uncover project troubles before they blow up. Retrieved on 5th October 2009 from http://www.pmi.org/Pages/Risk_Identification.aspx Sadgrove, K. (2005). The complete guide to business risk management. England, Gower Publishing Limited. Standards Australia. 2004. Australian/New Zealand Standard AS 4360 2004. Australia, Standards Australia International Limited.

The Destructive Nature of Man Depicted in Keyes Flowers for Algernon E

Imagine how you would feel if you were always being treated as though you were not human, or if people acted as though they created you. Well this is how you would feel if you were the subject of a science experiment. Science experiments should not be performed on humans or animals because of the unknown outcome. Flowers for Algernon by Daniel Keyes shows a destructive nature of man through stereotypes, absence of family, and the various IQ levels needed to mature. Scientific experimentation shows a destructive nature of man through stereotypes. Stereotypes are cruel and heartless. â€Å"He makes the same mistakes as the others when they look at a feeble-minded person and laugh because they don’t understand there are human feelings involved. He doesn’t realise I was a person before I came here.† (Keyes, 145) Before the surgery Charlie was looked down upon because of his mental state. However, after the surgery he is treated like he was made by the scientists, as though he was their very own ‘Frankenstein’. This is a destructive nature of man because after the surgery Charlie finds out that his so called friends have been making fun of him his whole life. Stereotypes show a destructive nature of man. â€Å"People with mental illness are depicted as burdens to society and incapable of contributing in positive ways to their communities.† (Edney) Through this book the reader knows this statement is false, b ecause Charlie is able to function fairly well in society, considering he has a job and he is doing very well there. Stereotypes show a destructive nature of man because they belittle people and make them feel worthless. There is a destructive nature of man is shown in Daniel Keyes’ Flowers for Algernon through the absence of family. Sci... ...es not necessarily mean just a fully grown up individual it is a combination of age, awareness, intelligence and decision making ability.† (V, Jayram) when you are intelligent you are able to become mature. When Charlie is trying to decide whether or not to tell Donner about Gimpy, this shows he is becoming more mature because of his decision making ability. This proves that there is a destructive nature of man shown through the various IQ levels needed to mature. In the end, Charlie is returned to his previous mental state proving that scientific experimentation leads to a destructive nature of man. In Flowers for Algernon Daniel Keyes shows the reader a destructive nature of man through stereotypes, absence of family, and the various IQ levels needed to mature. Therefore, science experiments should be left for chemicals and labs not humans and animals. The Destructive Nature of Man Depicted in Keyes' Flowers for Algernon E Imagine how you would feel if you were always being treated as though you were not human, or if people acted as though they created you. Well this is how you would feel if you were the subject of a science experiment. Science experiments should not be performed on humans or animals because of the unknown outcome. Flowers for Algernon by Daniel Keyes shows a destructive nature of man through stereotypes, absence of family, and the various IQ levels needed to mature. Scientific experimentation shows a destructive nature of man through stereotypes. Stereotypes are cruel and heartless. â€Å"He makes the same mistakes as the others when they look at a feeble-minded person and laugh because they don’t understand there are human feelings involved. He doesn’t realise I was a person before I came here.† (Keyes, 145) Before the surgery Charlie was looked down upon because of his mental state. However, after the surgery he is treated like he was made by the scientists, as though he was their very own ‘Frankenstein’. This is a destructive nature of man because after the surgery Charlie finds out that his so called friends have been making fun of him his whole life. Stereotypes show a destructive nature of man. â€Å"People with mental illness are depicted as burdens to society and incapable of contributing in positive ways to their communities.† (Edney) Through this book the reader knows this statement is false, b ecause Charlie is able to function fairly well in society, considering he has a job and he is doing very well there. Stereotypes show a destructive nature of man because they belittle people and make them feel worthless. There is a destructive nature of man is shown in Daniel Keyes’ Flowers for Algernon through the absence of family. Sci... ...es not necessarily mean just a fully grown up individual it is a combination of age, awareness, intelligence and decision making ability.† (V, Jayram) when you are intelligent you are able to become mature. When Charlie is trying to decide whether or not to tell Donner about Gimpy, this shows he is becoming more mature because of his decision making ability. This proves that there is a destructive nature of man shown through the various IQ levels needed to mature. In the end, Charlie is returned to his previous mental state proving that scientific experimentation leads to a destructive nature of man. In Flowers for Algernon Daniel Keyes shows the reader a destructive nature of man through stereotypes, absence of family, and the various IQ levels needed to mature. Therefore, science experiments should be left for chemicals and labs not humans and animals.