Critically analyse the role of the board of directors and senior Essay

Critically analyse the role of the board of directors and senior management in managing enterprise risk in an energy company - Essay Example Energy and Resources companies have come increasingly under the regulatory purview. Due to brisk changes in the industry, they face stiffening regulatory requirements, ever-increasing cyber issues and rapidly changing technology. Such compliances and risks have a strong impact on the company’s operations and business strategies that makes it utterly imperative for the management to adopt approaches to manage and mitigate risks and cope up with regulations. Risk Management in the Energy Sector A good progress has been made in the past in developing comprehensive enterprise risk management (ERM) programs. ERM is set to become an industry standard for management of risk because it is probably the most effective way to manage risk internal or external to the organization (Accenture Global Risk Management, 2011). The key risk areas that have been identified for energy and resources sector can be listed as follows: 1. High competition in the industry participants: Energy industry pa rticipants have a very unique competitiveness. Each player has a different advantage within the industry. One firm may have a good resource support while the other might be a technologically strong firm and a third would have a huge market. Nowadays, competition is shifting and each firm is trying to develop on every frontier. International firms are thus facing challenges by national players reducing their market size. 2. Limited sources of alternative energy: Despite the fact that there are alternatives to limited source of non renewable energy, energy companies still haven’t been able to progress much on developing much on alternative sources. Alternate sources have an irreplaceable demand, but on the supply side, they face a lot of constraints. There hydrocarbon content on earth is enough to last a century, but the problem lies in lack of knowledge on its development and usage. These sources are limited by limitations in scale, feasibility and fitness (Holmes, 2004). 3. G overnment Interventions: Most of government regulations in the energy industry are directed towards regulating supply. Operational policies, regulations on carbon emissions and energy security norms affect both the demand as well as the supply side of energy business. Role of Board of Directors and Senior Management Post recession, the scene for energy companies has not only been tough but also challenging in terms of greater project undertakings and complex compliances. Companies have also had to venture in remotest regions simply to manage demand and supply side challenges. Management has to focus on strategy, production, enterprise risk along with operational excellence. With the advent of regulators, management has started to recognise the need for risk management to enhance business performance. With time, a lot of change has come in managing enterprise risk. New tools, better techniques and risk measuring methodologies have come up. One can only predict how enterprise risk man agement shall evolve in the coming times. As Energy sector risk officers, senior managers and the board of directors need to be have the capability to comprehend what possible risks could potentially arise in the near future and how exactly to take preventive measures that will help in combat. With such approach, all downsides that

Social policy & housing. refugees, asylum seekers and the homeless Essay

Social policy & housing. refugees, asylum seekers and the homeless - Essay Example William Beveridge identified five key problems that the society faces and stressed the need for elimination of the Giants as he called them. These vices include ignorance, squalor, idleness and disease. His report known as The Social Insurance and the Allied Services was published in 1942 and issued to parliament for consideration (Groves, Murie and Watson 2007). He had proposed the assistance of the working class to the dependent group of the society - those who are working are to save some amount of their salary to assist the needy people such as the unemployed, the sick, widows and widowers, retired and the orphans. By doing this, Beveridge was convinced that the welfare of the state would be met. However, this can not be achieved without proper social policy. Social policy is linked with legislation and social work practice intricately. Social policy is the result of input from various sectors of the society and usually entails wide consultations to address an issue in the society. This is then underpinned in law, thus bring in the legislation aspect. For instance, social services have statutory child care and protection roles which lead to involvement with homelessness and housing policy and legislation (Stewart and Stewart 1992, p. 76). According to the Department for Social Development (2011), social policy streamlines the law to reflect changing social attitudes and making it responsive to the society. Social workers not only need to operate within the law, but also understand social policy in their areas of practice in order to maintain social work values. Social policy also helps social workers to comprehend political and ethical questions on responsibility and also understand individual and societal rights (Krieger and Higgins 200 2, p. 758). The current British housing and urban policy classifies housing according to tenure; owner occupation, housing from local authorities, registered social landlords and private rented housing.

Biology Essay Example | Topics and Well Written Essays - 1250 words - 3

Biology - Essay Example In combination with cloning such genetic material was able to bring about the desired change in a plant’s genes. This technique was accurate, fast and inexpensive (Wilmut). The process of making identical copies of living matter like cells or organisms is termed as cloning. These copies are called clones and they are genetically identical. Several organisms employ the technique of cloning, in order to reproduce (Wilmut). As such this process entails the obtention of identical copies from the parent. This process is asexual and results from the mitosis of a single fertilized egg (clone ). Cloning techniques are utilized by scientists to create exact copies of cells or organisms that possess valuable characteristics. Researchers in the area of cloning are always on the lookout for its application to medicine, biological research and industry (Wilmut). Scientists have applied this cloning technique to even animals, and have successfully produced animals that have considerable immunity to disease. The day is not far off, when scientists will use cloning to increase the number of members in endangered species, and also regenerate species that have become extinct (Wilmut). In respect of the cloning of animals, scientists had cloned frogs by the 1950’s. This process enabled scientists to create animals that had the genetic properties of just one parent. In the course of this technique, the genetic material of the egg cell had been supplanted by DNA of the adult frog’s body cell’s nucleus. Subsequently, these modified cells went through all the stages of a normal fertilized egg and culminated in an embryo (clone ). The cloning technology has considerable application in industry. Bacteria, that eat toxic substances like gasoline or industrial chemicals that cause pollution, are obtained in significant quantities by the cloning process. These cloned bacteria are as efficient as the parent bacteria in

How does music transform people and me Essay Example | Topics and Well Written Essays - 500 words

How does music transform people and me - Essay Example For instance, when a person who feels sad and hears a certain song he particularly likes, he could be emotionally affected depending on the kind of music. Love songs oftentimes remind people of love relationships and can relate to the music. However, not all people are simply attracted to music because of the lyrics or the rhythm of the song. There are other certain aspects in music wherein individuals are particularly attracted to. Some people love to listen to loud music and prefer rock and roll over melodious songs. On the other hand, there are those who consider rock music as noise because they prefer softer melodies and choose country and classical music or inspirational like gospel songs. Through my observations, I think music speaks more than words to the hearts and souls of people. The effects of music can be manifested by individuals stomping their feet, nodding their heads, shaking their bodies or seem to dance even while sitting, when they listen to music. This is perhaps the reason why it is called the language of the soul. It moves the soul and makes itself apparent through actions. Some claim that they are able to concentrate more in what they are doing when they listen to their favorite music and I agree with them because I feel the same way. Personally, I love to listen to instrumental jazz. I am very entertained by Kenny G. and the Caribbean Jazz Project. When I pay attention to their music, it is as if I am transported to another world where I can be dreamy. It gives me a whole new perception which brings out the musician in me. I can imagine myself with an instrument making my own music and playing along with the sounds that I hear. So many times, such instances make me inspired to continue with my music and desire even more to become a good musician in the near future. Music strengthens me to always keep my dreams on focus and be unafraid of the challenges I face in life. Whatever choice of music a person has, it could perhaps be said that

RTI^2 - Response to Intervention in Tennessee Schools Research Paper

RTI^2 - Response to Intervention in Tennessee Schools - Research Paper Example Decisions regarding the interventions’ duration and intensity are founded on the individual responses of the students being evaluated. Also, their designation for utilization in special and general education categories develops excellently integrated systems reliant on the outcomes of children. This paper explores the impact of Response to Intervention on schedules and direct instruction receivership in K-8 level schools in Tennessee. Response to Intervention processes use a universally accepted model that is widely practiced and scientifically researched that is divided into three tiers incorporating behavioral and/or academic intercessions. The first tier involves qualified personnel giving similar instructions to the students for screening to identify students with behavioral and academic needs as to their respective learning rates and performance levels. The second tier involves evaluating the individual progress of the participating students at increased intensity of the instructions provided. The third tier entails giving exhaustive intercessions targeting the identified skill deficits to ascertain whether each student satisfies the standards set to refer them for special education or general education. Besides, schools can use other implementation approaches such as functional assessment, problem-solving or standard protocol (Buffun, Mattos and Weber, 2009). The use of instructional processes in response to intervention is the pillar of the approach. Although assessment components are essential to the program’s implementation, it is the instructions appearing as a function of the assessments’ outcome that propels the desired changes in students found to have problems with academic performance; students at a danger of not scoring beyond the established standards. The tiered instructions describe a model in which instructions are presented to each student in

Drinking age Essay Example | Topics and Well Written Essays - 500 words

Drinking age - Essay Example Moderation will lead to results that are more realizable as compared to the minimum drinking-age restrictions. Certainly, under-age drinking is a prevalent problem especially among Americans. Different control measures have been taken to address the issue. However, each one of them has its advantages and disadvantages. I agree with the author that responsible drinking should be encouraged. This is even more important when dealing with a revolutionized society. The present youth develop in all aspects at a very fast rate as compared to the ages of our parents. Therefore, imposing stern legal restrictions regarding drinking may not realize the desired results. Instead, guidance and mentorship should be preferred. Provisional drinking license seems to be the best way forward. Introduction to drinking should be stepwise. This will eliminate dangerous drinking such as binge drinking. Hanson et al feels that prohibiting age is not a good solution. I agree with him since there are cases of adults experiencing irresponsible drinking. In fact, responsible drinking is also common among young adults who have not yet reached drinking age. Jenna Bush is a good example of responsible drinking among young adults. Although she was highlighted for under-age drinking, her drinking was responsible. Undeniably, responsible driving is gained through gradual introductory classes. The same case should be emulated for responsible drinking among young adults. However, one-sided approach cannot work effectively. Although the author advocates for drinking permit, the idea cannot work without rules and guidelines. The drinking permits ought to be followed by strict regulations to make them effective. For example, it would be good if the permits specified that an adult such as a parent be present at the time of drinking. This way, the parent, mentor, or the guide would be

Marketing Plan For NCR Research Paper Example | Topics and Well Written Essays - 2000 words

Marketing Plan For NCR - Research Paper Example Monopolists also need to increase awareness of their goods to the market. This is because; if they introduce new products to the market, they will only make it known to the consumers by marketing it. Thus, every business in the economy markets its products and services to the public. In order to market products effectively, a business needs to prepare a marketing plan that will guide it to achieve its objectives. The marketing plan for NCR Company focuses on the way in which it can attract new clients for its services. The plan will analyze the company’s market, its competitive environment and the financial market. The Mission of the marketing plan is to work on diversifying the services offered in order to increase the number of clients served by the company. The company also has a number of goals and objectives that guide it. The company aims at ensuring that the quality of services offered has increased, and the customer base has been improved. In addition, the company also aims at ensuring that customer satisfaction has increased and, that the company’s profits have increased. The industrial analysis of the market can be judged as wide and mostly composed of investors and established people in the market seeking credit offers. The major needs of the market include loans, credit and funds at a lower interest rate. In addition, the market also demands financial advice from the company. Individuals need to be advised on how to make sound investment decisions. The market trend can be given as rising and smooth. A smooth market trend implies that governments have implemented favorable fiscal and monetary policies. On the other hand, it also implies that supply and demand forces are attractive and normal. Therefore, it implies that the business can regulate its prices and consequently affect customer purchases. Therefore, the business can be able to predict the future of its operations. The analysis of the porters 5 Forces, the threat of new entrant s is the major force affecting the industry. This is because; there are many potential industries that are joining the finance industry. In addition, since there are no barriers to entry, it is very easy for other business to join the industry and increase competition. On the other hand, the threat of substitute products and services is very low since; all businesses in the industries deal with the same products and services. Therefore, the business faces very low competition from substitute products. The bargaining power of both suppliers and buyers is high since, buyers bargain for low fee for services offered while, suppliers bargain for high prices for the services that they offered. Market Analysis The targeted market includes customers that want to invest in the market (Luther,  2001). It also includes customers that business organizations that are normally engaged investment activities. On the other hand, all customers wishing to obtain funds on credit also form part of the target market. The company mainly targets people in the urban areas or highly industrious places. This is because; it is in the urban areas that there is a high demand for finances. In addition, in the urban areas there are many business organizations that are willing to borrow funds on credit in order to expend their operations. Statistics show that; approximately 2500 business organizations are targeted by the business and 5000 business individuals. There are also other miscellaneous additions that involve individuals and businesses that may borrow money