Role of Risk in Financial Decision Making Dissertation

Role of Risk in Financial Decision Making - Dissertation Example Risk is going to be the core factor of analysis in this study which will provide an idea of how risk assessment is important for an overall financial decision making process and its impact in the Small and Medium businesses. The literature will cover the post empirical studies to get to the subject adequately and effectively. This will provide the understanding of the subject in regards of risk management, risk analysis and its role in financial and business decision making process (Smit & Watkins, 2012). The process of risk management can be defined as follows. â€Å"Risk management is concerned with the outcome of future events whose exact outcome is unknown and with how to deal with these uncertainties†¦ In general, outcomes are categorized as favorable or unfavorable, and risk management is the art and science of planning, assessing (Identifying and analyzing), handling, and monitoring future events to ensure favorable outcomes† (Conrow, 2003, p. 2). In recent times S MEs (Small and Medium Enterprises) pay much attention to the risk management subject. Such organizations always emphasize on major risks involved in their businesses, this is to reduce overall risk of liability, risk of investment or risk of assets which are involved with their respective small partnered business ownerships. All of these are constraints of finance, if one views them in an investment or capital perspective. All of the above reasons validate that risk assessment is necessary for companies especially which are present with small scale and are on the initial settings to expand their business (Smit & Watkins, 2012). Organizations like retailer stores, utility shops, restaurants or hotels which are a central part of any developing economy apply risk components to analyze risk factors. This is to manage financial methods and business decision making process. In recent times this had been found in hotel management section which is one form of small enterprise business (SME) assess their risks to manage key financial elements like credentials, account receivables, account payables and financial assets like covenants or insurance (Luper, 2012). In SMEs especially present in a competitive market arrangement, the magnitude of financial management is bigger and so as its margin of retrieving risk at the time of business decision making. This is why such organizations utilize key risk applications to derive their financial objectives and make them achieve at right time of a business operation. An idea floats among all the business professionals mindset that better risk assessment leads to better financial management, which is true because risk evolves challenges and a good strategist include those challenges in assessment, before they become problems at a later point of time. Uncertainty takes the origin especially when risk is not overcome at the right time of an SME business and when it is assessed to a level which is adequate to meet financial goals or b usiness objectives of the Enterprise (Luper, 2012). In today’s modern business system, risk assessment has found its place in financial business organizations like Variable Annuity Industries (Melnick & Everitt, 2008). Based on long term planning, VA providers consider risk as a significant factor for designing and improvising annuities. To manage risk on the financial decisions, VA SMEs deploy risk management strategies to

Student Monitoring System Development

Student Monitoring System Development Project Definition Document A web-based student monitoring system 1. Introduction Educational software has been evolving in the last couple of years, catching up with the advances of software in the rest of the IT world. Mainly due to the advantages of e-learning more and more institutions are inventing to new technologies to accommodate their learners. This moved educational software from the traditional small client application connecting to central databases, to lighter web applications accessible from multiple clients via the internet. The next step that web based educational applications are taking nowadays is a Service Oriented Approach (SOA). This came after the introduction of the web services technology, AJAX and of course the frameworks that support the Model View Controller approach in developing applications. What is meant from the above, is that web based applications need to be able to collaborate with other systems since not all different components of the IT infrastructure of a university is developed by one company. Also open standards enforce more commercial and open source software developers to use approaches that their applications can be easily integrated and expanded. In our case we need to develop a web based student monitoring system, where personal tutors can monitor the attendance of their first year students. Our system would be developed so it would make it possible to be plugged into the existing systems of the University and if possible use data of them system to add more functionality and ease the administrative tasks staff members have to do. At the beginning of each year, the director of first year students s allocating personal tutors to students and also adds the students to a particular lab group. Then attendance sheets should be produced as outputs of our system to lab assistants and personal tutors. The problem with the existing system is that the interface of adding and modifying information is not very flexible. Our system should overcome this problem and make it easier for staff to keep attendance records of the students. Also in order for our system to be able to fit with the existing solutions, a service oriented approach would be used. Interfaces to import structured external data are one of the main areas that we will concentrate and also adding the flexibility of getting data out of the system. Student Monitoring System Student Information System Existing attendance system VLE Portal/Social Networking site Student Monitoring System Interface In the figure above the highlighted components are the ones we are going to develop as a part of this project. The links of our system to other systems would be implemented using a service oriented approach and web 2.0 techniques. 2. Aims and Objectives Aim Develop an attendance monitoring system to be embedded within the existing systems of the University using a service oriented approach and web 2.0 technologies to display and enter information to the system Objectives and Testing methods: Research and analyse service oriented approach and MVC frameworks in system development. A review of the different approaches will evaluate why we used a specific framework and methodology to develop our solution. Design, implement and test a complete implementation of the student monitoring system. Test all classes using Unit testing and also produce test plans for different functions of the tool as a blackbox / whitebox testing where appropriate. Produce a set of public APIs that can be used from our system to enable integration with existing systems. Testing of this objective would be by extracting data from the university systems and importing in it to our system easily. Also provide a set or web service or RSS feeds to import data to other systems Methodology Literature review on Service oriented approach in software engineering, J2EE MVC frameworks, RSS and web services. This stage will help us meet the first objective Requirements gathering with rapid prototype development. We will use the WebML approach for web application development which is an iterative simplified waterfall model approach. The outcomes of this stage would be a database schema supported by the entity diagram of the application and also any other diagrams required from the WebML approach. Objective 2 will be met at the end of this phase. Test and document all available APIs. At the end of this stage objective 3 would be met Testing and Evaluation: Expert review to test the chosen technical approach service oriented approach and MVC framework Test the code to minimise the risks of potential bugs Test the system for usability and functionality with potential stakeholders and gather their responses Tools: Eclipse IDE Tomcat J2EE server Spring framework Struts framework WebML AXIS, or other web service engine Deliverables: Student monitoring system with APIs so the system is easily integrated with existing systems Unit testing classes and results, test plan and test results Project report including an evaluation of the project with respect to its objectives. Feasibility and Risks: The proposed project will give me the opportunity to work on a real time scenario in the area of software engineering and provide a solution to an existing problem. From my current studies I got the appropriate base to explore more J2EE technology and develop an application by going through the full lifecycle. Related Theory(Some work needed) Areas of theory concerned in the project: Service oriented approach: J2EE frameworks: Tomcat installation and web application packaging Web app security Software development method: rapid prototyping and WebML. Database design Entity relation modelling and normalization J2EE development using UML and frameworks Unit, Black Box and White Box testing. Application Program interface (API) development Work plan (needs to be completed)

Oedipus the King: Does Oedipus Satisfy the Definition of a Good Man? Es

Does Oedipus Satisfy the Definition of a Good Man?      Ã‚  Ã‚  Ã‚   As a young man, Oedipus learned of his fate to kill his father and marry his mother.   Oedipus flees to a distant land to escape his terrible fate and inadvertently fulfills the prophecy. Unknowingly, Oedipus kills his father and enters the bed of his mother.   Was Oedipus was a good man who happened to suffer an unfortunate fate, or was he a truly bad person, whose fate was only just?   If we accept the Aristotelian views of good and bad, as expressed in The Good, Oedipus was indeed a good man by saving the city, ruling justly and searching for the truth although his anger could be seen as a flaw.    In his first dealings with the city of Thebes, Oedipus found them under the curse of the Sphinx.   He actually gained his position of King of Thebes by rendering unto the city a great service, namely the salvation of the city from the Sphinx's plague.   Aristotle praised the type of cleverness and practical wisdom Oedipus exhibited in his solution to the riddle as being a component of overall goodness.   If it were not for Oedipus virtuous action in saving Thebes, the citizens would have suffered untold disasters at the merciless hands of the Sphinx.   After proving his worth as a good man and his concern for the citizens of what was seemingly a foreign city, Oedipus was well liked by the people of Thebes.      The people of Thebes liked their ruler, and he in turn ruled over them in a good and just way, trying to help them in their times of need.   Aristotle believed that good in man existed in doing his job well.   A good carpenter was one who worked with his wood and built things as best as possible; a good ruler presided over his people justly.   Oedipus was a go... ...lege Publishers, 1999. Aristotle. " The Good."   Dramatic Theory and Criticism.   Ed. Bernard F. Dukore.   Fort Worth: Harcourt, 1974. Benardete, Seth. "Sophocles' Oedipus Tyrannus." In Sophocles: A Collection of Critical Essays, edited by Thomas Woodard. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1966. Dodds, E. R.   "On Misunderstanding the Oedipus Rex." Twentieth Century Interpretations of Oedipus Rex: A Collection of Critical Essays. Ed. Michael J. O'Brien.   New Jersey: Prentice-Hall, 1968.   17-29. Harmon, William, and C. Hugh Holman.   A Handbook to Literature. 8th ed. Upper Saddle River, NJ: Prentice Hall, 1999. Knox, Bernard M. W.   The Heroic Temper: Studies in Sophoclean Tragedy. Berkeley: U of California Press, 1964. Sophocles.   "Oedipus Rex."   An Introduction to Literature, 11th ed.Eds. Sylvan Barnet, et al.   New York: Longman, 1997.

Health and Diet Essay

Pienso que llevo una vida sana, ya que mi dieta es sana y balanceada. Tambien hago deportes regularmente y no tengo problemas de salud. Tambien evito la comida grasosa. Me considero estar en buena forma, ya que practico deportes y siempre estoy activo y en forma. Ademas me encanta la education fisica en el colegio. Un habito que tengo es que, me muerdo las unas a veces me muerdo las unas pero solo cuando estoy nervioso. Normalmente, como bien y me gusta la comida casera que es sana, me gusta comer ensalada y pasta en el fin de semana y de vez en cuando bebo agua o leche pero generalmente bebo naranjada y tambien tomo sopa y me encanta el pescado especialmente para la cena o la comida. En mi opinion las comidas saludables son los alimentos frescos y nutritivos, como las legumbres que contienen vitaminas. No obstante la comida procesada no es saludable ya que es rica en grasa y sal que sube la presion arterial. Asi que comer bien es muy importante pra estar en forma y para mantenernos sanos. Me gusta hacer ejercicio. Juego al futbol regularmente y tambien hago pesas dos veces a la semana, ademas duermo bien y descanso lo suficiente y no veo mucho la tele. Recientemente jugue un partido de baloncesto y corri mucho ya que era un campeonato y por suerte ganamos. Creo que por esto no tengo muchos problemas para estresarme. En las proximas semanas me gustaria dejar de comer comida rapida espeicialmente las patatas fritas y empezare a comer frutas que son mas deliosas ademas, me gustaria ir al gimnasio mas a menudo y deberia de levantarme mas temperano. Para no llegar tarde al colegio. Quiero estar mas en forma ya que asi podria tener mas energia para usar usarla en mi colegio. Si mi colegio me ayuda a estar sano y en forma porque me ensena a comer bien y puedo practicar deportes como el futbol o el rugby. Tambien hay muchos profesores que me dicen que hacer cuando estoy enfermo. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Spanish section.

Allusions in Arthur Millers “The Crucible” Essay

The Crucible contains many allusions, which is a reference to something supposed to be known, but not explicitly mentioned; a covert indication; indirect reference. Miller uses allusions to convey the theological beliefs and religious convictions of his characters. There is chaos in the town after the people there find out that there might be witches that inhabited the village. Abigail and her friends are accusing people of being possessed by demons. When Hale shows up he is convinced that there are witches in the town and believes Abigail. As Abigail walks through the crowd of people surrounding the courtroom where a meeting is being held all the people disperse away from her creating a pathway. In the Old Testament Moses comes to a sea and places his staff into the ground and suddenly the seas part allowing the Moses and the slaves to pass through the other side. When Abigail passes through the crowd, it opens up just like what had happened in the Old Testament. This also is irony because Millers audience that is reading the play knows that Abigail is making up these false accusations, but some people in the town believe her and are making her into some kind of religious figure. In the Crucible there is an allusion to Good vs. Evil. In Act III Danforth says, â€Å"a person is either with this court or he must be counted against it†(Miller 1137). The town is religiously and morally based so you are either classified under a believer or someone who believes in evil. The good people are seen as opponents of the court and the bad people are seen as proponents of the court. The irony in that is that the good people are treated like criminals and the criminals are treated like heroes. Miller uses allusion to portray Reverend Hale. In the begging of the play Hale came to the town and wanted to make the town pure once again. He believed in everything that Abigail and the girls said and questioned everyone that they had accused. Then he left for a while which was just like Jesus leaving and going into the desert for 40 days and 40 nights. When Reverend Hale returned he talked to John Proctor and believed him. This was like Hale went from this person who believed so much that there was witches in the town to coming to his senses and believing in the facts. We can  compare Reverend Hale to John Newton. Newton was a slave trader, who didn’t believe in God and was caught in a bad storm and called out to God for help and experienced what he was to refer to later as his â€Å"great deliverance†. After that he became believer and was baptized. So this man went form not believing to believing in god. John Proctor the protagonist in The Crucible could be compared to Jesus. In the last Act Proctor was faced with an important decision. Danforth offered Proctor a chance to get out of being hung but refused because he didn’t want them to make a mockery of him. So he took his punishment of death. He could have gotten out of being killed but did not because he knew what he was doing was right. Jesus knew the night before that the guards were coming to capture him so he could be killed. Jesus could have run and have gotten away but he made peace with God and died on the cross for our sins. When Abigail was accusing everyone in the town of being witches people were being hung without fair trials. This was like people in the early century being persecuted when they were completely innocent to begin with. In the end of the play people were started to realize that she was phony and she took off. The Crucible had a lot to due with people’s reputations than anything, which is a form of corruption, which we see a lot in these days. The Crucible contained many allusions that portrayed the bad characters in the play as religious figures. Being such as morally and religious based town he people who were innocent were seen as criminals through the eyes of the town because they believed in something that was truly evil.