...CMI Level 5 Diploma in Management and Leadership Unit 5021 – Operational risk management CARE 4 ME Angela Jackson Content 1. Be able to understand the concept of risk management 2. Be able to understand the identification of risk and risk probability 3. Be able to understand the management of risk response approaches 1.Be able to understand the concept of risk management 1.1 - Discuss the meaning of risk to an organisation Good risk management awareness and practice at all levels is a critical success factor for any organisation. Risk is inherent in everything that an organisation does: treating patients, determining service priorities, project management taking decisions about future strategies or even deciding not to take any action at all. Risk management is the process of identifying, quantifying and managing the risks that an organisation faces. As the outcome of business activities are uncertain, they are said to have some element of risk. These risks include strategic failures, operational failures, financial failures, market disruptions, environmental disasters and regulatory violations. When it is impossible that companies remove all risk from the organisation, it is important that they properly understand and manage the risks that they are willing to accept in the context of the overall corporate strategy. The management of the company is primarily responsible for risk management, but the stakeholders; external auditor and other...
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...Massa I mongoli comprendevano l'importanza di concentrare il proprio potere offensivo nel tempo e nello spazio. Dimostravano grande abilità, ad esempio, concentrando il tiro delle frecce contro un unico bersaglio da più lati e individuando l'avversario contro il quale fare massa. E' soprattutto al di fuori del campo di battaglia che però i mongoli comprendevano l'importanza di concentrare le masse in modo coordinato: sistematicamente marciavano separati per combattere uniti, secoli prima di Napoleone. obiettivo Le loro armate, infatti, seguivano un preciso piano delle operazioni sincronizzando le azioni dei vari scaglioni in modo cronometrico, nonostante fossero lontani anche centinaia di chilometri. In questo complesso processo non perdevano mai di vista l'obiettivo delle operazioni, sempre costituito dalla parte principale dell'esercito nemico, contro la quale, poi, concentravano fulmineamente e imprevedibilmente le forze. Their army in fact followed a precise operational plan synchronizing with a perfect timing all the different divisions, although they were distant from each other hundreds of kilometers. In this complex process they never lost the objective of their operations, the main body of the enemy’s army towards which they eventually concentrated quickly and unpredictably their forces. Offensiva Le armate mongole perseguivano sempre con decisione l'obiettivo di acquisire l'iniziativa tattica e strategica, che raramente concedevano all'avversario. Questi era...
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...Learning Activities from Chapter 1 Master in health information management Healthcare information leadership Millennia Atlantic University Mariana Viloria 1. Differences between micro and macro perspective of healthcare. MACRO-PERSPECTIVE: Macro perspective is a form of analysis which focuses on the structure of society and provides a way of seeing society as a unified whole. In this macro perspective minimal attention is given to the individual or the subjectivity of actors - the structures of society are thought to be primary and responsible for shaping the individual. MICRO- PERSPECTIVE: A micro perspective focuses on the individual level, while a macro perspective focuses more broadly on society. Ethics is a major concern in the health care field. Health care professionals must ensure that they are benefitting patients and meeting ethical and moral guidelines in the provision of care. There are two types of ethical issues facing the health care community: micro issues and macro issues. Micro issues cover issues that arise on a daily basis, and they involve such factors as technological change and dealing with a diverse population. Macro issues concern the allocation, use, and management of health care resources. Macro issues are of major importance as the amount of resources being consumed by health care continues to rise. At the macro level there is a political issue, allegedly somewhere between 25 and 50 million persons who are "uninsured," by which the...
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...Capacity Planning: A Tactical Decision with Strategic Impact The business environment has never been more challenging than it is right now. The speed of change in the marketplace is creating a stress on corporations to respond quickly and effectively. The foundation that is required to react to dynamic changes in supply and demand is based on understanding your supply chain’s capacities. Understanding and then building the infrastructure that provides the needed flexibility and speed requires an in-depth understanding of how capacity impacts your business. The impact of capacity management is felt throughout the organization, within every element of the supply chain. Supplier capacity can bring production to a standstill. Production capacity is equally important; if the capacity is not great enough to meet peak demand periods and inventory building is not properly planned, customer demand will go unfilled. Distribution capacity, both storage and throughput, ensures delivery of the right product at the right time. Transportation connects all elements of the supply chain; as such, its capacity issues are key, influencing service levels and on-time delivery performance. Change has become the rule, not the exception. The need for capacity management is measured not in years or quarters but rather in weeks and months. Changes can be brutally fast and without warning. Industry over the past two years has been hit hard with a steep slowdown of their business. Some...
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...jsp). Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited. www.emeraldinsight.com A Dynamic Theory of Leadership Development Abstract Purpose - The paper offers a dynamic theory of leadership development. Design/methodology/approach – The paper examines selected leadership literature through the lens of theory building blocks. It identifies the role of the ideal goal in leadership and its importance in developing the psychological aspect of leadership. Findings – The paper posits that leadership is a developmental process, which is based on the type of choice a leader makes. While choice implies that two good options are always available from which to select, one should make choices in accordance with his worldview, looking for affiliation (i.e. the Theta worldview), or looking for achievement (i.e. the Lambda worldview). Consequently, leaders need to recognise that the choices they make for organisational activities have to fit their own worldview. Pursuing the fit between one’s worldview and planned organisational activities ensures that leaders continuously improve their ethical behaviour. The paper concludes with the presentation of a dynamic theory of leadership, which is based on the assumption that one can only strive toward truly ethical leadership with the knowledge that this goal is beyond human capacity. 1 Research limitations/implications...
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...Tactical Visions An Introduction to Football Tactics playmaker 2 Tactical Visions Tactical Visions Football Manager 2010 sees a seismic shift in the way tactics are approached from the human perspective, seeking to replace ‘slider think’ with football speak. The focus is no longer on finding the correct settings to master the simulation, but on understanding how to create a coherent tactic using proper football terminology. The best way to understand the new tactical system is to look at what the real tacticians do. The aim of this article is not to tell you how to play, or which system is best, but to provide a solid platform on which to build your own ideas. If you’ve read books such as Jonathon Wilson’s ‘Inverting the Pyramid’ then hopefully this serves as a handy reminder. If not, then hopefully this will give you some ideas how to put your tactics together. You might agree with some points and disagree with others – in which case I have done my job, because you are thinking about football and not computer games. Beginnings As an Englishman I am obliged to stipulate three things. 1. We weren’t the first people to think of kicking a ball around. 2. We were the first to have a hissy-fit about rules and threaten to take our ball away, thus creating the modern version of the sport played worldwide. 3. We don’t understand how our own creation works and our tactics have the subtlety and sophistication of a herd of stampeding elephants with toothache. Which is pretty...
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...PERSONAL AND ORGANIZATIONAL DEVELOPMENT WORD COUNT : 2499 WORDS PAGE OF CONTENTS INTRODUCTION PAGE 3 PART 1 PAGE 4 – 8 PART 2 PAGE 9 – 13 CONCLUSION PAGE 14 REFERENCES PAGE 15 INTRODUCTION With high entry barriers to the Oil & Gas Industry, some people are fighting to maintain their position, while some people are trying to escalate the career ladder. After this exercise of reflective commentary, I will be able to clearly identify my weakness and my strong points. In the first section, I will be discussing about the employment market of the Oil & Gas Industry in Singapore, and my targeted position of a junior trader – middle distillates. The changes in Singapore labor market will be briefly discussed, and there will be several factors being brought to attention in order to clearly notify what are the changes of the labor market in Singapore in general. Next, a reflection will be done based on my current career path, and my choice of career advancement. I will be levying on various sources of input, from the seminar activities, assessments, and psychometric tests that has been carried out. Lastly, I will reflect on the improvements to be made for a smooth and successful career advancement in the future. PART 1 Singapore is one of the most sought after places to work in Asia. Over the years, Singapore has attracted millions of foreigners into the Singapore labor market. However, it has been...
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...strategically positioned it self within the world’s soft drinks market. Given that they operate in over 200 countries, they are faced with a clear choice of whether to standardise their product offerings globally and reap the potential benefits of economies of scale, adapt their offerings to a particular market (which may facilitate increased market specific penetration), or adopt an integrated approach utilising both approaches simultaneously (Vrontis’ AdaptStand approach). There has been much literature written regarding the external and often uncontrollable factors which may impact upon a firms positioning strategy; this paper looks at these externalities and the internal controllables in order to derive a ‘best fit’ strategic and tactical approach. Moreover, this paper looks at the strategic international positioning of Coca-Cola by utilising a number of models. Keywords: Coca-Cola, global, international, strategy, positioning, adaptation, standardisation, AdaptStand, AdaptStandation, international, marketing, Introduction If we consider business to be akin to war, then perhaps there is no better starting point than the writings of Sun Tzu [circa 400-320 B.C.]. ‘The Art of War’ is the oldest formalised writing focusing on the concepts and principles of warfare and military strategy. Written over two millennia ago, it is still valid in the modern world, not only in military terms, but also in business. “Generally, he who occupies the field of battle first and...
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...be an analyst who understands exactly how users would think, react, communicate and work with the systems software, databases, and/ or Hardware. Knowing these points would allow the analyst to prevent future issues, correct future needs, fulfill current requirements and create a great user experience. Not understanding these points would cause for an uneasy project that potentially would need a lot of maintenance down the line because it doesn’t fit what the user/ people needs. What is the role of systems theory relative to system analysis methods? First, to define the two terms: Systems Theory according to buisnessdictionary.com is defined as “One of the several methodologies (such as operations research, systems analysis, systems dynamics) which employ systems approach to understanding complex phenomenon and problems.” System Analysis methods according to buisnessdictionary.com is defined as “In a broad sense, a general methodology (not a fixed set of techniques) that applies a 'systems' or 'holistic' perspective by taking all aspects of the situation into account, and by concentrating on the interactions between its different elements.” From the definitions listed above, it can be conclude that Systems theory is the understanding of systems in its entirety; while Systems analysis methods are methods used to try to understand the system, why it reacts the way it does or how it needs to act in a certain instance. An example would be to...
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...Leadership, Management and Command: The Officer’s trinity.[1] W B Howieson & H Kahn The acts of leading, managing and commanding (based on either philosophy or practice) have had to adapt throughout the history of the Royal Air Force, in concert with changing environments; these acts will have to change again in the 21st century and will require new skills, new attitudes and differing perspectives of the Officer’s trinity. INTRODUCTION There is a plethora of literature on leadership, management and command. In the civilian (business) market, there are – literally – thousands of books on leadership; management; and leadership and management as a ‘dual’ concept. However, there are no books in the business market on what the military call ‘command’.[i] In contrast, in the military domain, there are an equal amount of books on leadership; command; and leadership and command together. However, very little has been written – to date – about military management; this represents a very serious limitation. New business practices and performance management systems now require capable senior managers and leaders and private sector organizations have found clear strategic benefit in providing a structured approach to the developmental needs of senior executives. Although it is recognized that leadership, management and command are closely related (especially in the military environment), comparatively little has been written on the nature and practice...
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...difficulties growing an effective sales staff. Experiencing success rates of 20% - 30%, when hiring new sales staff, are not uncommon for many companies. Additionally many companies have extreme spreads in the performance of their existing sales staff. A few of their Sales Reps are top performers, and most of their Sales Reps are marginal or poor performers. The New Order The turbulent business environment dictates that the sales function become a dynamic source of value creation and innovation within in the firm. When Product differentiation has its limitations and technological advantage is expensive to acquire, * Sales function must become a source of competitive advantage for companies. * Sales Strategies and Tactics must be pursued to meet this objective of gaining significant competitive advantage * Sales managers and sales people must see themselves as Intraprenuers. * Organizational culture and processes must be empowering such an environment The Sales Management Challenges Being able to implement the organization’s best competitive strategies * How to make the sale people see through it? * How to ensure its implementation in letter and spirit? * How to control its execution and be able to provide constructive feedback. * How to make tactical corrections succeed in its implementation Too many lost...
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...1. David Neeleman's original strategic mission and vision is just simple, to bring humanity back to air travel. The reason why the company offers strategic and innovative services to its customers like offering wholesome entertainment, food and drinks on flight is to attract more travellers through its affordable airline passes. The company is simply customer-centric such that its first priority is the comfort and fun for its clients. Aside from that, Jet Blue Airways Corporation also reaches out to the public by being active into community service. Essentially, Jet Blue is committed to enriching the lives of children and supporting the communities they serve through their core values of caring, fun and passion. In connection, one of the best community services offered by the company is giving books to children of not wealthy parents in one of the cities in the United States. The unwritten mission statement of Jet Blue Airways Corporation is reflected in its core values and principles created and set by the company. In lieu of mission statement, Jet Blue Airways Corporation is presenting a strategic set of core values. These core values include safety, caring attitude, integrity, fun and passion. The company commits to safety as the first priority in all business operations. In order to do so, the company adheres to rules and regulations implemented by regulatory agencies whenever is needed. Maintaining high standards in a consistent manner is the primary goal of the company...
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...[pic] Personal Profile I possess excellent interpersonal and communication skills and the ability to develop mutually beneficial relationships with clients and colleagues alike. I am now looking for a new and challenging position, one which will make best use of my skills and experience and enable further personal and professional development. I am keen to learn and develop new skills. I am also good in making decisions in extreme situations. My desire is to get out of life everything i can, so i work hard, try to be honest, liable and efficient. I am ambitious, flexible, reliable, hard worker, team player. I am happy to work on my own as well as a member of team. I’m experienced at working in fast paced environments and always adapt quickly to new roles and challenges. I have an excellent eye for detail. Good team player and able to use own initiative to achieve company objectives. I have strong ability to pick up new skills quickly and hardworking attitude. I posses good communication skills, work well under pressure and have a good sense of humour. I can easily adapt and able to deal with different tasks on a daily basis. I am well-organised, self-motivated and responsible person, with good eye for details. I am able to work in a high pressurised environment while staying calm and confident at any situation. I am friendly, approachable and motivated individual. An enthusiastic and highly motivated individual works well in a team and on own initiative...
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...Harvard Business Review Article Proposal “Putting the ‘R’ Back into CRM” By Susan Fournier (Boston University) and Jill Avery (Simmons College) November 17, 2009 1.) What is the central message (the “aha”) of the article you propose to write? What is important, useful, new, or counterintuitive about your idea? Why do managers need to know about it? Ten years ago, Fournier et al.’s Harvard Business Review article, “Preventing the Premature Death of Relationship Marketing,” charged that “the very things that marketers were doing to build relationships with their customers were destroying those relationships at the core.” According to the authors, relationship marketing was “powerful in theory, but troubled in practice” because marketers did not fundamentally understand what relationships with customers were all about or how they should be built and maintained. Ten years later, this seminal article continues to be a bestseller for the Harvard Business Review, is widely cited by academics (406 citations in Google Scholar), is incorporated frequently into MBA, executive education and doctoral curricula, and, importantly, has been a guiding force for managers from diverse industries who are interested in establishing stronger customer relationships. What accounts for the enduring appeal of the “Premature Death” article? We argue that the fundamental lessons offered in this article are as relevant today as they were ten years ago. In fact, our failure to appreciate...
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...Information Systems Today, 5e (Valacich/Schneider) Chapter 1: Managing in the Digital World 1) Knowledge workers are professionals who ________. A) use knowledge to perform their jobs, but do not create knowledge B) create, modify, and/or synthesize knowledge as a fundamental part of their jobs C) use their skills to help others gain knowledge D) modify knowledge created by others, but do not create knowledge themselves E) work in the education industry Answer: B Page Ref: 5 AACSB: Use of IT Difficulty: Easy Objective: LO 1-1 Classification: Conceptual 2) Which of the following predictions made by Peter Drucker is true? A) Knowledge workers have lesser bargaining power than workers in other industries. B) Knowledge workers do not possess valuable real-world skills. C) Knowledge workers are not reliant on formal education. D) Knowledge workers are continually learning how to do their jobs better. E) Knowledge workers are not paid as well as their prior industrial counterparts. Answer: D Page Ref: 5 AACSB: Use of IT Difficulty: Moderate Objective: LO 1-1 Classification: Conceptual 3) During the time of the industrial revolution, some individuals who felt threatened by the changes brought about by technology resorted to protesting against the technology. Identify these individuals. A) Luddites B) Utopists C) Millenarists D) Utilitarians E) Preterists Answer: A Page Ref: 7 AACSB: Use of IT Difficulty: Easy Objective: LO 1-1 ...
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