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NASCAR Safety with Restrictor Plates

NASCAR Safety with Restrictor Plates

Imagine this, forty-three cars running one hundred and ninety miles per hour around an asphalt track, three and four cars wide, covering a span of about five hundred feet. One mistake by only one of these forty-three drivers and half the field could be gone due to a wreck. The reason for this type of racing is because NASCAR, the National Association for Stock Car Auto Racing, mandates the teams to have special aerodynamic rules and restrictor plates to slow the cars down on the superspeedway tracks such as Daytona and Talladega. CNN Sports Illustrated said that, “The plates slowed speeds, but now the cars are bunched in large groups, racing two and three wide” (CNN1). They go on to say that, “It makes for an exciting race, but some drivers feel it puts them in greater danger” (CNN 1). The easiest explanation of a restrictor plate is best given by Kevin Bonsor and Karim Nice from Marshall Brain’s How Stuff Works.com.

A restrictor plate is a square aluminum plate that has four holes drilled into it. Whole size is determined by NASCAR and varies between 0.875 inches and 1 inch (2.2 to 2.5 cm). Restrictor plates are placed between the carburetor and the intake manifold to reduce the flow of air and fuel into the engine’s combustion chamber, thus reducing horsepower and speed. Restrictor plates were implemented in 1988 following Bobby Allison’s crash into a retaining fence at 210 mph (338 kph), which endangered hundreds of fans. (Bonsor and Nice 6)

It has come to the point now where fans flock to watch the race with anticipation of “The Big Wreck.” The staff of Auto Week magazine wrote, “At Talladega, usually it’s coming off Turn Two, where the track funnels a bit. But with 30 or 40 cars running two-, three- and even four-wide for laps on end, the Big One is guaranteed to happen somewhere, sometime” (Auto Week 1) Racing should not be a sport of anticipation, spectators should not pay big money to go and see a race with the anticipation of a big wreck that would usually involve at least one fourth of the cars in the field. This was not the original intention of racing legends when racing was first started in the Carolinas. The restrictor plates are hurting the sport overall and also endangering drivers.

Jerry Bonkowski, who writes for ESPN tells us “NASCAR originally adopted the plates because of safety concerns that cars were going to fast at Daytona and Talladega”(2). He also goes on further to say, “When Bill Elliot clicked off that record run of 212.809 mph at Talladega nearly 15 years ago, NASCAR’s quick response was to find something, anything, to rob engines of their power” (2). NASCAR did this quickly without haste. NASCAR moved on and passed the restrictor plate rules, but they were only supposed to stay on the cars until a new method was found to slow the cars (Bonkowski). This shows that fourteen years later NASCAR still has done nothing to find an alternative way to slow down the cars.

When a group of cars are packed tight in a bunch it allows a car that is moderately good to run in with cars that have a better set up and would normally run much faster. In a since, “It allows a not so great car, to run with a great car.” This creates serious problems because the cars have such a hard time passing one another since them all, in essence, are the same. Bonkowski from ESPN says, “They make it harder for individual cars to pull out of an aerodynamic draft to pass others” (2). This of course leads to big problems as drivers get closer to the finish of the race and are desperately trying to advance their positions. With that many racers trying their best to advance themselves will inevitably lead to disaster. Once again, NASCAR was not designed for spectators just to wait for a huge wreck. All this is due to the restrictor plate.

Blocking has become a part of NASCAR since these racecar drivers must race under such conditions. This word was never heard of until these rules were implemented. Mark Bradley, who writes for the Atlanta Journal Constitution believes, “Blocking is a big deal in NASCAR, blocking being the polite term for the abject refusal to let another car pass” (1). Godwin Kelly, who is the Motor sports Editor for Speed Magazine, in an interview with Mike Helton, NASCAR president wrote:

It’s been part of the sport,” he said. “If it gets to the point where it’s counterproductive to the racing, then we’ll have to react to it. Blocking is as old as Daytona International Speedway. But if it’s coming to a point that it seems to be detrimental, then we’ll have to address it. (1)

This blocking may have been around a while but was never used often in a race due to the fact that if a racer could pass the car in front of him, then he was obviously faster than that vehicle. The new aerodynamics and restrictor plate allow this to not necessarily be true. A car in front of several others is breaking the air; the cars behind it are riding in a zone where there is little wind resistance. Those cars in essence are pushing the lead car faster, while picking up speed themselves the entire time. This was why several cars

Running nose to tail was much faster than a single car, until the new rule changes came about and ruined racing. Now cars run nose to tail in a line because they can’t use the draft to their advantage. Marty Smith, from Turner Sports Interactive, gives us this interview with Ward Burton after a restrictor plate race.

Example 1, Ward Burton: “I hope they’re proud of themselves. We came down here and tested. A lot of us learned something, but (NASCAR) didn’t learn anything. If this is racing, they can have it and I think everybody in the garage will say that. It’s ridiculous.” (1)

Smith also gives us another interview with Sterling Marlin, the current NASCAR Winston Cup Points leader.

Example 2, Sterling Marlin: “It ain’t the drivers, its NASCAR. You run it all day, you’re going to wreck. Every driver has been telling them in the NASCAR trailer that it’s going to happen. They wanted it to happen. (1)

These are strong words from veteran drivers that should not have to talk this way about a sport that they have grown up around all of their lives. This sport is their job and livelihood.

Here again it is easy to see that NASCAR has good intentions to begin with. They mandated restrictor plates to slow cars down to prevent injury and or deaths. Now the question is, Is NASCAR really helping or hurting the drivers? I think the answer is clear from all the evidence, even though NASCAR originally had good intentions, NASCAR is endangering drivers by making teams run the restrictor plate. It has led to big wrecks, which lead to hurt drivers, and some very expensive damaged machines.

Auto Week Magazine. “The Race Report.” Pg. 41 April 29, 2002 Lexis Nexis. May 2,

Bonkowski, Jerry. “Time for Plates to Go.” ESPN.com February 17, 2002

Bonsor, Kevin, Karim Nice. “How NASCAR Safety Works.” Marshall Brain’s How Stuff Works. May 2, 2002

Bradley, Mark. “Out of the Wrecks Emerge a Steal.” The Atlanta Journal-Constitution.

February 18, 2002 “1” May 2, 2002

CNN Sports Illustrated. “Lashing Out, Earnhardt Blasts Restrictor Plates on Eve of Pepsi

400.” June 30, 2000 “1” May 2, 2002

Jenkins, Chris. “Speed a Source of Concern at Ultra-Fast Texas Track.” USA Today.com

Kelly, Godwin. “Earnhardt Jr.’s Day is Full of Stunts, but He’s Still Smiling.” Speed

Magazine. February 19, 2002 http://www.news-journalonline.com/2002/Feb/19/ CAR2.htm “1” May 2, 2002

Smith, Marty. “Drivers Dissatisfied with Restrictor-Plate Racing.” NASCAR.com

Bibliography:

Auto Week Magazine. “The Race Report.” Pg. 41 April 29, 2002 Lexis Nexis. May 2,

2002

Bonkowski, Jerry. “Time for Plates to Go.” ESPN.com February 17, 2002

“1” May 2, 2002

Bonsor, Kevin, Karim Nice. “How NASCAR Safety Works.” Marshall Brain’s How

Stuff Works. May 2, 2002

Bradley, Mark. “Out of the Wrecks Emerge a Steal.” The Atlanta Journal-Constitution.

February 18, 2002 “1” May 2, 2002

CNN Sports Illustrated. “Lashing Out, Earnhardt Blasts Restrictor Plates on Eve of Pepsi

400.” June 30, 2000 “1” May 2, 2002

Kelly, Godwin. “Earnhardt Jr.’s Day is Full of Stunts, but He’s Still Smiling.” Speed

Magazine. February 19, 2002 http://www.news-journalonline.com/2002/Feb/19/ CAR2.htm “1” May 2, 2002

Smith, Marty. “Drivers Dissatisfied with Restrictor-Plate Racing.” NASCAR.com

October 22, 2001

“1” May 2, 2002

Organizational values

Full Title of the Paper

Student Name

Institutional Affiliation

Introduction

By formulation of this competency framework plan by DrewNet Group, Inc., and its subsidiaries (“DrewNet)” or the (“Company”), the organization seeks to improve its employees’ ethical and legal standards so as to achieve its goals. In order to develop an operational and efficient competency framework plan for DrewNet Group, Inc., and its subsidiaries (“DrewNet)” or the (“Company”), all stakeholders i.e., CEO, HR team, departmental heads and members of staff need to understand the importance of their conduct, integrity and abilities on the performance and reputation of the organization.

Organizational values

Incorporation of DrewNet Group, Inc., values into its employees is the core of the functioning of the competency framework plan. The values of organizations are embodied in their mission statement, corporate vision and vision statement. To ensure these values are entrenched in the employees, they should be documented and publicized in the organization’s premises and website. In this plan, therefore, I will outline the organization’s mission statement, corporate vision and vision statement as articulated by the CEO.

Mission Statement: To provide quality tailor made service to meet all of our clients’ needs through impeccable service delivery and the maximization of resources available to us while ensuring growth and sustainability.

Vision Statement: To impact the lives of our clients, employees and society at large by respecting every person’s rights and creation of opportunities of growth to these people.

Corporate Vision: Give clients value for their money and ensure maximization of stakeholder investment.

The Competency Culture

Following the incorporation of DrewNet Group, Inc., values, development of the competency culture in this organization comes next. The competency culture entails the cultivation of the need for proper qualified and skilled staff in every required area. This creates a need to be better in the employees. The competency culture is grown based on hiring and firing practices, salaries and remunerations, promotion practices and the attitude of the senior management towards the skill levels of their juniors. An increase in the hiring of non skilled employees in positions that require a certain skill sends a message of doom to all other employees in the organization. The employees feel threatened since anyone can be hired for any job in the organization without fulfilling the requirements if such post. Such job insecurity causes laxity and reduces the productivity of the organization. Creating a culture of competency improves the quality of services rendered and also gives the organization an edge in the market. The edge leads to higher profitability and increases the lifespan of the organization since the risk of becoming obsolete is reduced.

The Director of HR with departmental heads will be required to spearhead this part of the plan by ensuring staff in their departments are evaluated according to their respective fields. Establishment of a metric to do the evaluation will be deliberated by the Director and the departmental heads to ensure it is fair and excludes bias of any sort. Creating a culture of competency improves the quality of services rendered and also gives the organization an edge in the market. The edge leads to higher profitability and increases the lifespan of the organization since the risk of becoming obsolete is reduced.

Education, Training and Professional Development Activities

However in order to undertake this exercise, departmental heads will be educated on the same. By virtue of their leadership roles, their education will have to be outsourced. This includes coaches, consultants and other professionals who are well educated on the subject to take them through and impart the required know how. This will happen in two major ways: conferences and seminars. Although the difference is minor, it plays a large role in how learning happens in the two events. Conferences will mostly be over shorter periods of time where the educators are speaking with little participation from the learners (departmental heads). This could easily be done in the organization premises in order to save on cost. Seminars on the other hand, will be over longer periods of time and the learners get to interact with the speakers and with each other to build on the material shared during the course of learning. The main reason for the outsourcing of the department heads education is to bring a new perspective in the organization at all levels.

The staff may or may not have their education outsourced. This works on the assumption that after the department heads are trained they are fit to pass this skill to members of their respective departments in a manner they deem fit. Depending on the department head and the nature of work carried out in the department, the head may choose to: give a lecture on the new methods learnt, teach by being an example (apprenticeship) or use job rotation. The lecturing method is the most inefficient way to pass skill and the Director of HR highly discourages the use of that method. It solely depends on the attention span and retention of the members of staff and it is difficult to evaluate the results. Apprenticeship is highly recommended although not in old-fashioned implementations. It should be exclusive to each department and not just blanket application throughout the organization. The department head may decide not to expressly tell his team that he is teaching them through this method rather a change in the mode of operation and policy in the department will shape the staff’s outlook and also lead to a change in them. The implementation of job rotation needs patience and confidence in one’s team since it requires people perform tasks they had probably never performed before. It builds confidence and reduces exclusivity of skill set in the work place since more than one person can perform a particular task.

The training methods described above require funding in order to be implemented. The main focus should be on the outsourced methods since they will be more expensive to implement. The trainers need to be paid, venues need to be hired and in the case of seminars, food and accommodation for the department heads. This is a major concern seeing, the organization is not at its best at the moment and any funding must be properly justified. The Director of HR would like to propose the acquisition of a loan in order to facilitate this exercise. The loan need not be the entire sum required but just an addition to what the company will be able to access.

Barriers to Education, Training and Professional Development Activities

The attitude of employees towards the activities. This goes a long way in the learning and retention of skills required. The employees should see this is a mode of gaining fresh knowledge that will be useful in the realization of their purpose.

Funding. Inadequate funding will really disrupt the whole process since not everything envisioned to be covered will be achieved and hence will create a loophole in the learning process.

Total Quality Management

In order to maximize profits and ensure accountability, the Director of HR recommends the use of a combination of the traditional total quality management (TQM) method and the total quality human resource management (TQHRM). TQM is a strategic systematic approach that is customer-based and requires total employee involvement. It employs fact based decision making through a system that is process centered, makes use of good communication and is reliant on the continuous improvement of employees. TQM requires employees to be up to speed with training, improve their service delivery and helps reduce error in all stages of production. Therefore, by implementation of the TQM, the organization will: build competitiveness among the staff, be versatile enough to cope with changing market trends, reduce costs, increase productivity and profitability. TQHRM remedies the insensitive nature of the traditional TQM towards the employees of the organization. TQM only looks at an employee as a means to higher productivity and profitability whereas TQHRM ensures proper employee-employee and employer-employee relations. The combination will therefore protect both the interests of the employer and the employee by ensuring maximum profitability while preserving the dignity of the employee.

Evaluation metric

To evaluate the success of the competency framework plan, the Director of HR will put into place an outcome based performance appraisal – Management by Objectives. Employees will be judged on achieved performance outcomes. They will be evaluated on how well they perform a specific task of objectives critical in the successful completion of their jobs. To ensure perfect results the objectives will be given to them by their department heads at the start of the period in which the objectives are meant to be accomplished. These goals will be specific to each employee for a particular period of time and feedback awarded to the employees. The appraisal will be used to gauge the expected vs. actual performance of the employees and paint a picture of the realization of organizational goals after a specified time.

Climate of the organization

Analysis of the organization’s climate during the implementation of the competency framework plan gives the Director of HR a chance to observe whether the plan is working. This may help tweak a few areas which may be implemented poorly or ineffective to efficient operation of the plan and prevent a perceived wastage of company resources by the CEO. The climate also speaks to what the employees have gained from the various methods used to create a competence culture in the organization. It will be clear whether the employees view the implemented mechanisms as a manipulated tool by the management or as helpful input. This is important since the organization is only as strong as its employees who ensure the efficient day to day performance of tasks in realization of the organization’s goals. It also helps in boosting morale of the employees since they are appreciated and their views are instrumental in the management of the organization. The climate analysis will be carried out in two steps: (I) view of the department heads in regards to their education, its implications, changes (if any) in their respective departments and the approach taken in handling their respective departments (II) view of the members of the staff regarding their training, its implications, changes (if any) and their reaction to the various teaching methods used by the department skills. This information will help the Director of HR assess the matter and should be availed to the CEO regardless of the situation.

Remediation plan

If after this evaluation, the competency framework plan is not as effective as expected; a survey shall be conducted throughout the organization to determine what is in the best interest of all stakeholders. In line with the findings of the survey, Director of HR will be required to show the pitfalls of the process of the actualization of the competency framework plan from inception till failure. The CEO will overlook this process and go over the Director’s conclusions. The Director in his presentation to the CEO will suggest solutions to the problems, whether the newly suggested solutions will be implemented or not will be left to the discretion of the CEO. The suggested solutions are to be accompanied by a report detailing the implementation of the competency framework plan. The report should cover all issues raised in the assessment before the plan, the plan and during the implementation. A careful distinction should be made between these three phases and the challenges that arose in all the stages also shown.

Conclusion

It is paramount that the competency framework plan formulated is implemented in full effect in the time frame provided in order to maximize results. The plan is exclusive to DrewNet Group, Inc., since it captures the inefficiencies in this particular organization and seeks to rectify these shortcomings in order to achieve the organization’s goal. Although, there exist barriers to the implementation of the plan, I have analyzed them and suggested solutions to them both long term and short term. The benefits outweigh the apparent problems and the competency framework plan in fact acts as a solution to some of these problems. In order to ensure longevity and productivity of the organization, management needs to think proactively not retrospectively.

I believe I am the perfect candidate to ensure the implementation of this competency framework plan as a solution to the organization’s needs. This is because I: bring a fresh perspective into the organization, have interacted with employees of the organization and take a hands-on approach to tackle the issues raised.

Takeaway: This assignment has helped me realize the value of the course materials in a real-life scenario since that has been my main guide as I tackled this assignment. Also, I have learnt to appreciate the role employee satisfaction plays in the performance of an organization. Lastly, it is invaluable to incorporate organizational values into employees to give them a sense of worth working.

References

Midhat Ali, M., Qureshi, S. M., Memon, M. S., Mari, S. I., & Ramzan, M. B. (2021). Competency framework development for effective human resource management. SAGE Open, 11(2), 21582440211006124.

Barker, Kimberley, PhD,M.B.A., R.O.D.C. (2020). Creating change and cross-cultural competence while conducting business on the global stage. Organization Development Journal, 38(3),

Cahogfan. (2010, November 23). Competency models introduction.f4v [Video]. YouTube. https://www.youtube.com/watch?v=UyxLP9-GrGM (5:01)

Bok, H. G., Jaarsma, D. A., Teunissen, P. W., van der Vleuten, C. P., & van Beukelen, P. (2011). Development and validation of a competency framework for veterinarians. Journal of veterinary medical education, 38(3), 262-269.

Antonacopoulou, E. P., & FitzGerald, L. (1996). Reframing competency in management development. Human Resource Management Journal, 6(1), 27-48.

Bartram, D. (2006). The SHL universal competency framework. SHL White paper, 1-8.

Mee-Yan Cheung-Judge. (2020). Organisation Development Core Principles, Competency, and the Way Forward? Organization Development Review, 52(3)

De Rezende, L. B., & Blackwell, P. (2019). Project management competency framework. Iberoam. J. Proj. Manag, 10(1), 34-59.

SAMPLE PAPER

~SAMPLE PAPER~

MAR3400 – Individual Paper #1

“Dream Job: Disney”Introduction

My “dream job” is to work for Disney. Disney is a solid company and is known for spreading happiness via their various products and services. Thankfully, I have received an offer to enter their Leadership Development Program as a Sales Representative for one of their largest services! I will be selling “Disney Meetings and Events” to corporate event planners on a B2B context, utilizing the face-to-face sales function.

Company Description

The Walt Disney Company was founded October 16, 1923, almost 100 years ago! Disney has produced an abundance of famous films and has evolved overtime, acquiring ABC, ESPN, Pixar, Marvel Studios, and Lucasfilm. They have found opportunity in the streaming disruptor, by adding HULU and Disney Plus to their portfolio. Beyond their movie and television talent, they have “magical” theme parks located throughout the world and sell merchandise via e-commerce, brick and mortar and licenses. They also have their own cruise line! Disney’s customers exhibit an unwavering brand loyalty. Disney is known for outstanding customer service, which is achieved by endlessly inspiring and motivating their “Cast Members.”

Product, Key Features and Benefits, Special “Secret” Sauce

I am excited to sell “Disney Meetings and Events” to corporate event planners. Disney has successfully sustained an outstanding work environment for all their employees, which has led to superior customer service, innovative ideas, and an abundance of highly motivated engaged employees.

Features and benefits of choosing Disney Meetings and Events for your corporation:

Attendance and Engagement

Unique and creative programs that draw your employees in

Supply: Venue, catering, entertainment, logistics and marketing support

Types of Corporate Events

Team-Building Retreats

Award Ceremonies

Employee Appreciation

Company Milestones

Product Launches

Charity Events

Conferences

Board Meetings

The Disney Difference

Pre- & Post-Event Stays

Marketing Assistance

Creative Resources

Customer Experience

Added Value & ROE

Environmental Footprint

Disney Institute Content

Leverage Disney’s Professional Development and Team-Building Expertise

Disney Institute

Disney has proven that they are a global leader in maintaining a fun, creative, engaging, and dynamic workplace for their employees. The way they motivate their employees to go above and beyond is what makes Disney special i.e., it’s their secret sauce. Fortunately for other corporations, Disney sells this highly sought-after knowledge via professional development seminars and keynote presentations, which are made available when choosing Disney Meetings and Events.

Markets and Customers

Disney’s targeted customers are organizations seeking the benefits of experiencing unique and compelling events that will teach them how to convey their organization’s message. Disney not only offers in person meetings and events, but also online trainings via their institute. The online experience has benefited many businesses, especially during the ongoing Covid-19 pandemic.

Testimonials:

“Best Chevrolet’s customer satisfaction accelerated above 90% to lead in customer retention.”

“Everyone who goes comes back excited with new ideas and inspires others with their enthusiasm. We have found that it’s the best way to keep our culture alive.” – Scott Schulman President & Owner, Best Chevrolet

“Humana saved $50 million thanks to improving customer service and reducing staff turnover.”

“Through this work with Disney Institute, our people get to really learn from the experts about culture and the ways to implement that culture. It’s not just sitting and listening in a conference room. It’s getting out in the field and seeing how it’s done.” – Jason Fonder Perfect Experience Director

“The NFL’s fan initiative scored big in customer service and engagement at Super Bowl XLVI.”

“We want to make sure the fan experience is of the same world-class nature as the game and the show. So we turned to the company that is world-renowned for exceptional customer service.” – Frank Supovitz Senior Vice President for Events, National Football League

As a Disney Sales Representative of Meetings and Events, I will speak to leaders of organizations, i.e., the CEO and Vice President or their corporate event planners and explain how their company will benefit from investing in Disney’s successful, unique, and inspiring model.

Various organization’s needs:

Build leadership skills

Convert disengaged employees to engaged employees

Change internal company behavior, organizational culture

Inspire innovative ideas

Realize ROI

I will communicate directly with CEO’s, Vice President, or corporate event planner (whichever is applicable) and assist them in choosing which program they would like to purchase based on their underlining needs. They may choose to buy face-to-face events or online events; each are unique in their own way. After the organization experiences the benefits of Disney’s Meetings and Events, I would ensure that B2B referrals were utilized to increase my clientele. CEO’s may be concerned that they will not realize a return on their investment. I will supply passed testimonials, statistics and analytical data that will alleviate any concerns they may have.

Buying/Selling Process

When an organization is interested in Disney’s Meetings and Events services, they can visit the website and submit a request:

https://www.disneymeetingsandevents.com/corporate-events/

Submit a Disney Request for Proposal or easily attach their own RFP.

After review (1-2 business days), I will contact the potential client to begin designing their unique event plan. I would prefer to meet face-to-face as non-verbal communication is extremely important.

If I am provided an organization’s information, i.e., referral for a potential interested corporation:

I will graciously reach out to the prospective client and ask to meet face-to-face, gather the information that is needed, analyze the data and create the best event plan for the organization.

Completing the Sale

Describe Disney’s background and success in customer service

Listen to the customer and learn what their needs are

Explain how Disney’s Meetings and Events can benefit them and supply passed testimonials

Create an initial draft of the plan and review with the customer

Adjust the plan accordingly, adding more events or tailoring others to satisfy the needs

Meet with the customer for final review

Follow up with the customer to ensure satisfaction, obtain feedback and future client prospects

Conclusion

I am excited about this simulation and learning more about the Sales Representative position at Disney. I know that the skills I acquire will benefit me in any career I pursue. I would love to work for Disney, the happiest place on Earth!

Sources

https://www.disneymeetingsandevents.com/corporate-events/

https://www.cvent.com/en/blog/events/guide-corporate-event-planninghttps://www.disneyinstitute.com/about/https://www.history.com/this-day-in-history/walt-disney-company-foundedhttps://thewaltdisneycompany.com/about/https://www.socialtables.com/blog/event-planning/get-corporate-clients/

UniSuper Fund

`

UniSuper Fund

Name

Institution Affiliation

Executive Summary

According to the Australian legislative law, under the Corporations Act 2001, all businesses are required to be responsible for the interests of stakeholders and the community. The act requires that all the businesses, including financial firms, are required to adhere to the corporate social responsibility contained under the constitution. However, the recent outburst by the public concerning the use of their money in investing in coal industries and other polluting industries sparkled debate on how superannuation funds adhere to social responsibility. With such funds showing their irresponsibility and ignorance, UniSuper is a role model for the industry as it is dedicated to being corporate citizenship. UniSuper fund demonstrates its corporate citizenship through investing in eco-friendly sectors and having strategies aligned with its corporate social responsibility policies. Such actions by UniSuper is worth coping and is an example to other funds to demonstrate their corporate citizenship.

Table of Contents

TOC o “1-3” h z u 1.Introduction PAGEREF _Toc38628611 h 32.Background PAGEREF _Toc38628612 h 43.Methodology PAGEREF _Toc38628613 h 44.Findings PAGEREF _Toc38628614 h 54.1 UniSuper PAGEREF _Toc38628615 h 54.2 Corporate Social Responsibility PAGEREF _Toc38628616 h 74.3 UniSuper’s Corporate Social Responsibility PAGEREF _Toc38628617 h 84.4 UniSuper’s narrow view of CSR PAGEREF _Toc38628618 h 94.5 UniSuper’s Broad view of CSR PAGEREF _Toc38628619 h 95.Discussion PAGEREF _Toc38628620 h 106.Conclusion PAGEREF _Toc38628621 h 117.Recommendation PAGEREF _Toc38628622 h 11

IntroductionFor the past two decades, corporate social responsibility (CSR) has been and is still a subject of discourse in the global business environment. The majority of businesses across the world in the present day have existing strategies targeting corporate social responsibility. According to Anderson and Landau (2006), more than 70% of the leading corporations in Australia have CSR policies affirming how businesses are responding to the issue. Currently, businesses are focused on having CSR policies having witnessed their incredible benefits in brand recognition and societal progression. However, a study conducted by Elizabeth and Robinson (2018) revealed that the concept of CSR is complex and multi-dimensional.

In the Australian superannuation industry, significant investments exist in coal production as well as other polluting industries. The massive investments made in the companies has been triggered by the enormous profits generated by the industries which constantly pollute the environment. Recently, the coal industry was in the spotlight for its support and considerable investments in polluting industries. In response, the funds disclosed that their aim was to profoundly guarantee the best possible return on fund member investments regardless of the industry worthiness. The sentiments sparkled debates about CSR issues in the superannuation industry. Thus, the UniSuper investment company is an excellent investment solution, having its CSR policies that direct investments in eco-friendly, socially responsible industries. UniSuper plays a vital role in the Australian superannuation industry for its provision of alternative investments integrated with numerous CSR policies.

BackgroundRecently in Australia, the public came blazing at 22 companies for defying the call for climate action. The public took their uproar to social media and the streets, demonstrating their disappointment at the businesses, inclusive of financial corporations. The financial companies included Australian superannuation funds, which used the retirement savings of employees to invest in coal production and other industries associated with environmental pollution. The production of energy from coal is a significant contributor to environmental pollution that prompted the signing of the Paris Pact by different governments and stakeholders across the world (Gencsu, I. et al., 2019, p. 11). The agreement targets the mitigation of environmental pollution through the reduction of coal production. Among the details highlighted in the agreement is government funding in eco-friendly means of energy production. Therefore, the superannuation funds’ actions to invest in coal and other polluting industries contradicts with the Paris Agreement.

The outburst of the public sparkled debates on how the superannuation funds are using their retirement savings. Furthermore, the issue contributed to studies on the extent to which the companies’ strategies align with the corporate social responsibility and the Paris Agreement. According to research by Market Forces, the majority of Australian companies do not have their goals aligned with the Paris Agreement (Market Forces, 2020, p. 2). The findings reveal that much ought to be done for companies to adhere to the call for climate action. With the public concerned with how their saving is being used, UniSuper is having the keys to eco-friendly investments.

MethodologyThe research used quantitative and qualitative methods of research. To find out more information on UniSUper and its importance in the Australian superannuation industry, the research employed the use of internet sources and previous researches conducted on the industry. The research focused on the information available on UniSuper’s website. With technological advancement, websites are proving to be beneficial and resourceful in the access of critical information regarding the company. The information is reliable as the fund keeps updating their website with the latest information about the fund. Therefore, the information about the fund’s operations, management, and corporate social responsibility is obtained from the fund’s website. Previous research about the Superannuation industry and corporate social responsibility in Australia was correspondingly used. Previous studies on the subject equally helped to investigate the importance of UniSuper in the Australian superannuation industry alongside the corporate social responsibility trends in the industry.

Nonetheless, since the research is founded on the existing case studies and research, there might be a challenge because only a limited number of studies are centered on superannuation funds and its corporate social responsibility. The few studies linked to superannuation’s corporate social responsibility are seemingly an obstacle to acquiring more information on the subject hence a primary challenge.

Findings4.1 UniSuperUniSuper is a superannuation fund in Australia targetting employees of higher learning and the research sectors. As outlined in UniSuper’s website, the fund is devoted to providing superior retirement outcomes to various categories of employees (UniSuper, 2020). UniSuper is committed to rendering the best services to employees, whether they have recently been employed or when they have changed employers. The fund, which has more than 400,000 registered members, recorded a 7% increase in membership in 2019. The fund currently has more than $85 billion in assets (UniSuper, 2020). Consequential to the Australian government’s directive that all employees ought to have superannuation, UniSuper is among several super funds in Australia and also among the largest. However, unlike other super funds, UniSuper targets Australian higher education and sectors.

UniSuper, just comparable to other funds, operates through contributions from members which they will obtain upon retirement. The fund protects the members’ funds and boosts them through investments. According to the Superannuation Guarantee (SG) legislation, the members’ employers ought to contribute up to 9.5% of the total earnings (UniSuper, 2020). Afterwards, the money is managed by UniSuper, which is then returned along with the returns made to the employees upon retirement. The final balance upon retirement is dependent on the amount of contributions made, investment returns, and additional fees paid. In summary, the fund works by investing members’ contributions and repaying them back with the profits generated.

Conversely, the fund allows one to choose where their contribution will be invested in. There are several investment options that members can choose from, with the default investment option being the Balanced option or MySuper (UniSuper, 2020). Furthermore, the fund has insurance policies such as disability cover, death cover, and income protection cover. The fund offers the insurance covers by acquiring the covers from an insurance company. The obtaining of an insurance cover via the UniSuper fund is, however, affordable compared to acquiring a separate individual policy. Distinct from other superannuation funds, UniSuper is a profit-for-members fund, implying that all profits are directed to the members. Consequently, there are several benefits associated with being a member at UniSuper.

In terms of the administration, the fund is owned by the 37 Australian universities and is managed by UniSuper Limited, a corporate Trustee. The fund believes that to realize an effective superannuation system, there ought to be good governance in the management of funds. Thus, the fund is managed by a board comprising of 3 directors, four representative directors from the universities, and four representatives (UniSuper, 2014, p. 3). The management is aimed at protecting the interests of its members. Alongside the board is the Consultative Committee that plays a crucial role in the governance of the fund while also taking part in the decision-making process (UniSuper, 2014, p. 4). Therefore, the structure of the fund’s management is aimed at achieving the best control of the superannuation of the employees of higher education and the research sector.

Being a profit-for-members fund, the fund is of significance hence a role model to other funds. The mainstream superannuation funds are focused on generating high returns from which the gains only benefit other involved parties ahead of the investor. An excellent example is the funds investing in coal production and other polluting industries. Such investments led to criticism and public outburst as to how their investments are being misused. However, UniSuper is an excellent example of a fund that exhibits its corporate citizenship to the community. According to the fund’s website, the fund has its strategies aligned with its corporate social, economic responsibility (UniSuper, 2020). UniSuper is, for that reason, a role model to other funds as it is a responsible investor.

4.2 Corporate Social ResponsibilityBusinesses today, including financial firms, are aligning their strategies with corporate social responsibility. Corporate Social Responsibility is a model that guides businesses to be socially accountable and be responsible for the environment. Another acceptable definition of CSR is the lengths beyond just the legal business requirements to the broader perspective of responsibility towards the community and environment (Anderson, H. and Landau, I., 2006, p. 4). Over the years, the business world has evolved with more emphasis directed towards CSR policies. In Australia, the majority of companies have their activities and strategies that purport to reflect their dedication to being responsible to society and the environment. Through businesses’ policies aligned with CSR, these firms display their corporate citizenship.

There are various legislative laws aimed at regulating CSR in Australia. The regulation stipulates the responsibility of business management in recognizing the interests of stakeholders. Additionally, the statute permits firms to voluntarily participate in numerous social and environmental initiatives (Anderson, H. and Landau, I., 2006, p. 8). In Australia, the regulation laws are contained in the Corporations Act 2001 (Anderson, H. and Landau, I., 2006, p. 8). Furthermore, the legislative law also entails obligations on superannuation, which is contained in section 1013D (1) of the Corporations Act. The sections unveil the extent to which superannuation funds can be responsible to the society, environment, and ethical standards during investments. Moreover, there exists another section, Section 299(1)(f), containing the requirement that financial firms ought to attach information of breaches of environmental regulations. Therefore, there are questions of the extent to which the government ensures corporate citizenship since some superannuation funds are breaching the act and investing in polluting industries.

4.3 UniSuper’s Corporate Social ResponsibilityUnlike other superannuation funds, UniSuper is aware of its broader responsibility to the environment and the community. The fund has its corporate social responsibility that aims to align with its investments. Being an investor, the fund first examines the environmental, social, and governance issues before making investments. Through such responsible investments, the fund, therefore, aligns its investments with its corporate social responsibility policies. In the recent past, there has been an intensification of the environment, social, and corporate governance (ESG) within the fund. Climate is another issue that the fund is keen on, having its portfolio aligned with issues surrounding climate action.

4.4 UniSuper’s narrow view of CSRThe narrow view of CSR is the corporate responsibility of a company by making contributions to society. Under the narrow view, companies can show their corporate responsibility by using their profits to support employment, wages, and investments. Therefore, the social responsibility of a firm is to grow its earnings provided that it remains responsive to the community and environment. Through generating profits, companies like UniSuper can show their corporate citizenship through improving society.

In UniSuper, the narrow view of CSR involves investment activities that would, in return, generate profits from their members’ contributions. The fund invests in various mix of assets from where the member chooses where their contributions would be directed to. Among the options offered by the fund are the pre-mixed options and sector options. Under the pre-mixed options, the fund chooses and manages the investments on the members’ behalf. The options under pre-mixed include conservative, balanced, and growth. On the sector options, the investments are rather diversified in different variants. The options that members’ investments are spread includes Australian bond, Australian shares, global companies in Asia, and international shares (UniSuper, 2020). Therefore, UniSuper displays its narrow view of social responsibility through investing members’ contributions in diverse sectors to generate profits for the members.

4.5 UniSuper’s Broad view of CSRThe broader view of CSR is the action by corporations that display their accountability in caring for the environment. Furthermore, the more comprehensive view of CSR entails a firm’s efforts to show support for the improvement of the neighboring society. Through such measures, a company can have the opportunity to create a positive image for its members and community.

UniSuper shows their corporate responsibility for the broader view of CSR through directing their investments in ecofriendly industries. Before investments, the fund first considers several issues, including climate risk management, human rights, and the ESG disclosure and transparency of the sector (UniSuper, 2020). Moreover, the fund assesses the management’s ESG capabilities before agreeing to invest. Notably, the fund reviews the industry’s ESG approaches, ensuring that its investments uphold high standards.

DiscussionFrom the findings, superannuation funds, identical to other financial firms, ought to display their corporate citizenship as per the Corporations Act of 2001. With superannuation being compulsory in Australia, the government must ensure that the funds comply with the Corporations Act. The funds ought to show that their corporate citizenship through various policies that align with the CSR. UniSuper is an excellent example of a fund that has its strategies aligned with the CSR. UniSuper is a superannuation fund that offers retirement benefits to employees of higher learning and research sectors. UniSuper plays a vital role in the superannuation industry as being the role model of how corporate citizenship is aligned with investments.

From previous studies and research, CSR is an evolving concept, gaining attention in the business environment. In Australia, the government, under the Corporations Act, requires financial corporations to be responsible corporates to both society and the environment. UniSuper, being among the financial corporations mentioned in the act, aligns its strategies with the CSR policies. UniSuper is a responsible investor through its measures of first assessing environmental, social, and governance factors before making its investments. The fund has both a narrow view and a broader view of CSR. The fund generates revenue by investing in ecofriendly sectors.

ConclusionConclusively, UniSuper is a corporate citizen as it possesses CSR policies that guide the fund to make sustainable and socially responsible investments. Through its wide variety of investment options, members can choose how their contributions can be invested in sustainable industries while essentially creating returns. UniSuper is among other financial firms that are aware of their corporate citizenship to the community and the environment. Therefore, with the criticism of superannuation funds investing in polluting industries, UniSuper acts as a role model of how members’ funds can be invested in eco-friendly industries while still generating profits for their members. The assessments of industries by UniSuper before investing in them make the fund stand out as a superannuation fund dedicated to responsible investments.

RecommendationThe research recommends that the steps taken by UniSuper are essential in generating returns for members while contributing to environmental initiatives. Furthermore, the study also commends UniSuper for their strategies and efforts for displaying their corporate citizenship as being socially and environmentally responsible.

References

Anderson, H. L., and Landau, I., (2006). Corporate social responsibility in Australia: A review. Monash U. Department of Business Law & Taxation Research Paper, (5).

Elizabeth, A. F., & Robinson, G. M., (2018). Mapping meanings of corporate social responsibility – an Australian case study. International Journal of Corporate Social Responsibility, 3(1), p. 14.

Gencsu, I., Whitley, S., Roberts, L., Beaton, C., Chen, H., Doukas, A., Geddes, A., Gerasimchuk, I., Sanchez, L. and Suharsono, A., (2019). G20 coal subsides: Tracking government support to a fading industry. ODI Report.

Market Forces, (2020). Out of line out of time. Retrieved from https://www.marketforces.org.au/wp-content/uploads/2020/03/Out-of-line-out-of-time-2020.pdf

UniSuper, (2014). Better regulation and governance, enhance transparency and improved competition in superannuation. Retrieved from https://treasury.gov.au/sites/default/files/2019-03/UniSuper.pdfUniSuper, (2020). How super works. Retrieved from https://www.unisuper.com.au/your-super/introduction-to-unisuper/how-super-worksUniSuper, (2020). Introduction to UniSuper. Retrieved from https://www.unisuper.com.au/your-super/introduction-to-unisuperUniSuper, (2020). Responsible investing. Retrieved from https://www.unisuper.com.au/investments/responsible-investing/our-approach-to-responsible-investingUniSuper, 2020. About our investment option. Retrieved from https://www.unisuper.com.au/investments/investment-options-and-performance/about-our-investment-options

Vulnerability

[Year]

Your Details

Date

[ Vulnerability Analysis]

Certification and Accreditation of Information Systems

Vulnerability: – Vulnerability is a weakness of a system which allows the intruders to reduce a systems information assurance. It includes three parts first is flaw, intruder’s access to the flaws, and intruder’s capability to exploit the flaw. An intruder to be vulnerable should have at least one technique which connects to the systems weakness. They are classified according to the asset class which are

Hardware

Software

Network

Personnel

Site

Organizational

As a part of a formal risk assessment of desktop systems in a small accounting firm with limited IT Support, you have identified the asset “integrity of customer and financial data files on desktop systems” and the threat “corruption of these files due to import of a worm/virus onto system.” Suggest reasonable values for the items in the risk register for this asset and threat, and provide justifications for your choices 

The Risk Register is shown below

Assets Threat Controls Likelihood Consequences

Level of Risk Risk Priority

Integrity of customer and financial data files on desktop systems Corruption of these files due to import of a worm/virus onto system Firewall, Antivirus, e-mails, downloading files Almost Certain Major Extreme 2

The three strategies of managing risk are:

(1) Reduce the probability of an unfavourable event: – These can be accomplished by effective strategic planning. Management skills and knowledge of managers can be developed either directly through self improvement or indirectly by outside advisors.

(2) Self-insure and accept the impact if an unfavourable event occurs: – Following options are included:

Modification of revenue-related risks by diversifying the enterprise mix. The outcome can be lower average revenue or added costs in the course of a loss of efficiency.

Reduction of production risk due to spread of production geographically. This can result in increase of cost of production.

Building net worth will help a business to survive in adverse events.

Building excess production capacity which will reduce the likelihood of delay of production-related activities

(3) Reduce the impact on the business if an unfavourable event occurs by shifting risk to others: – Costs are incurred in the form of Insurance premiums.

Qualitative risk analysis: – An analysis that adjudicators an organization’s risks to pressure, which is based on decision, perception, and the knowledge versus transmission real numbers to this possible risks and their potentials loss margins.

Quantitative risk analysis: – A process that attempts to allocate real numbers to the costs of countermeasures and the quantity of harm that can take place.

Differences between these two are

S No. Quantitative Risk Analysis Qualitative Risk Analysis

1. Results are expressed in management specific terminology They do not determine financial values of assets.

2. Risks are analyzed in financial terms Risks are analyzed in terms of quality of risk that is ranking the risks.

Quantitative Risk Analysis is more effective as it tells the monetary value of the Risk.

The two models are

Security Steering Group (Leverage Model)

Maintaining the information of the industry, sustaining technology, and security model is not a part-time plan. Developing an useful security architecture that is built on the inclusive familiarity of the business is a non-trivial activity that requires active advertising to multiple resources that can sufficiently characterize the business objectives and/or needs of the organization. The organization of an Internal Security Steering Group will help ease the measures necessary to design, build, implement and maintain a pragmatic security architecture model.

This leverage model can successfully decrease the overall level of effort in scheming, implementing, and managing all of the serious mechanism that an venture security architecture is comprised of thus increasing the Return On Investment (ROI), reducing the Total Cost of Ownership (TCO), and effectively managing risks.

Basic Security Requirement Model

An incorporated risk management program is serious in securing business objectives requiring the enforcement of secrecy, reliability, accessibility, and liability.

Secrecy

Secrecy ensures the safety of data from illegal access throughout an organization’s information planning, which extends to all data directly linked with the architecture’s applications, data stores, communication links and/or processes.

Reliability

Reliability ensures that data, services, and other restricted resources are not altered and/or destroyed in an unlawful manner. Reliability based controls provide safeguards against unplanned, unlawful, or nasty actions that could result in the change of security defense mechanisms, security sorting levels, addressing or steering information, and/or audit information.

Accessibility

Accessibility ensures the trustworthy and right process of information and system capital for which the loss of information and/or resource access would cause unfavorable results. Accessibility based security necessities include controls to stop, sense, and/or monitor unintended, unlawful, and/or nasty activities that could negatively impact the accessibility of serious information.

Liability

Liability requirements ensure that events can be linked to exact users and/or processes accountable for those actions. The largely goal is to be able to confirm, with 100% certainty, that a picky electronic message can be associated with a particular individual, just as a handwritten signature on a blank check is tied back to the account owner. Liability based controls include detection and validation mechanisms, and access control.

The steps are:-

Knowledge base: A good tool will come with letter templates, appeals strategies, and other content to arm providers with the information that only experience can provide.

Workflows: MAC appeals can involve many departments and individuals collaborating to meet deadlines. Look for tools that have both prebuilt workflows as well as the flexibility to modify or design processes to fit an organization’s specific needs.

Hosted software-as-a-service model: Keeping up with changing requirements and incorporating new best practices is difficult with software that arrives on CD. Hosted applications offer frequent content and functionality updates as well as fully functional remote access.

Easy-to-use streamlined interface: Good tools must be fast and easy to use, with controls that are intuitive enough that even the technologically handicapped can use them.

The three steps in the security process are:

Plan: – The first step is to plan the whole structure of the requirements. Nothing can be done without planning so the first step is to plan what all is there and how to work on the security of the required data. Security process is to be followed according to the plan made.

Delegate: – This is the step which lets the plan made to be followed in reality. Implementation of the security plan is done in this step.

Audit: – This is the step in which all the security measures are tested and if any loop wholes are found they are rectified to provide the correct security measures.

The steps involved in conducting an assessment are

Define Extent of the Change: – The assessment being done is laid down in detail and all the procedure required are defined in this step.

Determine Key Differences: – All the key differences are determined in this step, where all the requirements are laid down and separated from each other.

Focus on Effects: – This step lays down the processes and main focus is laid down in implementing them.

Sort and Prioritize: – The main processes are first listed and all those who have higher priorities are dealt first.

Make a Decision: – This is the step which lets the user make the effective decision of his assessment.

Mobile devices though being portable and have the dual facility to access calls and e-mails (internet) have some risks which are as follows.

Due to their small sizes they can be easily stolen or lost which leads to loss of the complete data.

The files still exist on the cells memory which can be misused.

If the mobile software’s or any download is virus stuck, they can harm the handset itself.

The handsets are prone to many malwares which come due to different downloads being done over the mobiles.

There can be excessive spams which come in the mobile devices.

Thus using official information over mobile phones should be minimized only when its actually and increasing necessary as this can lead to leakage and misuse of information of the organization which can be a risk factor for them.

The main benefits associated with the approach to IT planning are

Releasing the possessions for improved operation

The capability to nurture the business devoid of considerable increase to workforce all the way through improved and large efficiency and output

Concentrated delays in vocation stream process

Concentrated delivery rejoinder instance

Concentrated records

A risk is any happening and occurrence of actions, which can be internally or externally generated, which prevents an association from achieving its objectives and goals. Risk assessment will aid in planning decisions such as:

The character, degree, and timing of review measures

The business functions to be audited.

The quantity of time and capital to be owed to a review

With the information Eric Raffin had at that time, the other alternatives could he have considered are

Developing a database to record the actions which can be referred to at the time of need

Taking timely backup which can help store the data which can be useful in days to come

Forming a system which stores every minute details so that without any missing information the process can be followed.

Taking into account the possible system working time which would have increased its working and efficiency.

The bowtie analysis is a popular structured method which helps in assessing risk, in this methodology qualitative approach is not enviable. The achievement and accomplishment of using the diagram is its uncomplicated and trouble-free method for any non- expert to comprehend. The design is an easy one to combine the reason (fault tree) and the result (event tree). The fault tree is wan on the left side and the event tree is wan on the right side and the risk is wan as a “knot” in the centre, the diagram appears like a bowtie. An example of the same is shown below:

Consequence 2

Consequence 1

Mitigation 2

Mitigation 1

Incident

Prevention 2

Prevention 1

Hazard 2

Hazard 1

To create a bowtie diagram following needs to be defined:

Events which needs to be prevented.

Threats that might root the event to take place.

Consequences which occur due to the event.

Controls required avoiding the event from being occurred.

Controls to moderate alongside the consequences.

The bowtie methodology is used for every kind of risk examination and investigation, from major accidents, all the way through work-related and ecological to industry, IT and safety risks.

Using web as a medium of exchange either associated with buying or selling of goods and services involve transactions of money from an account to the other. The customers are on a very high risk undertaking these shopping’s over net, the risks are

The customer is not sure whether the web page which he is trying to do over net shopping is a valid one or not. Generally people make fake web pages and just try to cheat on general public and take lots of money from them and don’t deliver the products.

They can risk their money which they are giving in exchange of the commodity.

They can risk their bank account details or their credit card details.

They are not sure of even getting their desired product which they have purchased over net.

They cannot fight for the quality of product which was sent to them or if a product is broken.

So there are various risks involved in shopping over net, thus it should be avoided to a great extent.

Outsourcing is forming a contract with another company or person to do a particular task or provide some service. Naturally, the purpose being outsourced is measured non-core to the business. Today almost every organization outsources in some way or the other.

Following are some positive effects of outsourcing on an organization are

Growth

Offshore Expansion

Variety of Options

Reduced Risks

Competitive Spirit

Fulfill Business Objectives

Better Results

Resource Utilization

Flexibility

Share Business Risks

Fast Turnaround Time

Following are some negative effects of outsourcing on an organization

Loss of jobs in developed counties

Huge lay-offs by companies

Risk of heavy losses to companies who outsource without proper planning

Rise of fear and dissatisfaction among employees in companies that outsource

Risk of the outsourcing company stopping its operations

The project may not be completed well in time. As the whole group has not worked over this technology and we have no documentation to refer for this technology we face real difficulties in estimating the time required to complete the project. We can even go wrong in the people required for completing this project. Doing this project is like “Aiming in the Dark”. We are in this situation that we have put our foot forward without even know where is our goal and how much time we need to reach our goal. There is the biggest problem here that will be deliver the project well in time because the organization is waiting for the new deliverable and things and the processes currently in the organization are being done hoping of getting the deliverable well in time. As we know every step undertaken within an organization are interdependent, so the dependency of work on this new technology is also expected.

The development of this technology may lead to losses in shares of the company for which the technology is being made. Now when the organizations is expecting a new technology after six months they might have started managing their work in the hope to get the new technology well in time but if this does not happen obviously the company is going to be struck hard in losses and if a company goes in loss it for sure to have a depreciation in the shares. The probability of this risk is very high it’s like more than 50%. The risk exposure is high because it directly affects the stake of the company. The best way to avoid this risk is to take as long time period for its completion but it should be adequate and within reach.

Another risk is will the deliverable be efficient enough to provide what’s required out of it. Here is the biggest risk, whether we will be able to provide the project in the way it’s required. Even if we take long time to do the project we are not sure of its success as the system takes data from three systems which no one is aware of except one of the team members. This situation is like being lead by one who is also not sure about the things. We are just doing a process of hit and try. If it works out its well and good, else all in vain.

The risk here is very high as taking this technology for development we are not sure to give the desired deliverable because it’s a new technology and new systems are involved which has no reference to be taken help from. Now if this thing happens the company can face a situation to stop its work because they might have started their processing according to the new technology hoping to let it work fine. The probability to this risk is maximum because it’s what the exact system is all about. The best way to avoid or risk this down is to do a thorough study and analysis of the systems required. Every possible data and information should be gathered and should be considered to help make a productive deliverable.

The next risk is about the inflow required in this project. As I told you that we are working on the bases of hit and try we may require more inflow in the project as what was planned or estimated. This is really a thing to worry because an organization can only spent a particular amount on a project. And here is the case that even if they spent more they are not sure of the final deliverable.

If this is the thing it’s for sure that the company can go in losses. The risk exposure is high because if the company will utilize its funds here and that also without even having a budget for that they will go in huge losses which might create a situation for the company to shut down its business. The best way to avoid this risk is to first clearly discuss with the developers how much capital is required and will they be able to give the desired deliverable within that budget. And what will be the maximum expenditure for this. A through planning should be done and only then the decision should be taken for undertaking such a new project.

The risks involved in this project are high and it’s really not feasible and ethical to undertake such a project because it do not gives a desired deliverable, it also harms the managers/ companies goodwill. It can make the company a loss too, which is not right. If the company goes in loss it will affect the market of the company, which will lead to fall in the share rates, loss of customers of the company which is not good at all. On the part of the organization they should also take care of what they are expecting from a project is approachable and valid.

References

Academic

Journal

http://www.drj.com/new2dr/w3_030.htm

Journal

http://www.blackwellpublishing.com/journal.asp?ref=0272-4332

eBookhttp://www.acrobatplanet.com/non-fictions-ebook/ebook-risk-assessment-models-establishment-exotic-vertebrates-australia-and-new-z

ebookFIRE SAFETY RISK ASSESSMENT http://www.communities.gov.uk/documents/fire/pdf/151102.pdf

Website

http://www.mindtools.com/pages/article/newTMC_07.htm

RPTM 300Y Fall 2022

[STUDENT NAME]

RPTM 300Y Fall 2022

L02 WEEKLY WRITTEN REFLECTION – THE TOURISM SYSTEM

Think About This (see CANVAS for further details and rubric)

This is an individual activity. Your overall answer to the questions below must be 500-700 words. The word requirement will be strictly enforced in accordance with the grading rubric. Make sure to number your answers based on the questions.

1. In this week’s lecture, Dr. Hunt referenced four key stakeholder groups in the tourism system: tourists, businesses, host governments, and local communities. How does Doug Lansky describe each of these stakeholder groups in his TEDx talk? (approximately 100 words)

2. At one point, Lansky say, “they took their eye off the ball.” To what and to whom is he referring? (approximately 100 words)

3. Later, Lansky refers to growing tourism by limiting it. What is he referring to with that expression? (approximately 100 words)

4. Lansky concludes by referring to DMOs. The article linked above also refers to DMOs. Explain the two meanting of DMO and then provide three (3) key takeaways or lessons you learned about DMOs from this TEDx talk and article? You must consider key takeaways and lessons learned from the perspective of at least 2 of the key stakeholder groups. (approximately 300 words)

 

Retailers often create break-even analyses to determine

. Retailers often create break-even analyses to determine the level of sales and must achieve every day to pay the operating costs of their company. Managers will use this information to determine profit margins needed to achieve a certain level of income. Retailers may also review the industry standard or a leading competitor when setting profit margins. Most retailers earn income by volume sales, meaning profit margins are lower on individual goods so high-volume sales must be achieved to earn positive cash flow. This is done through identifying cost drivers and the efficiency with which the cost drivers work and are managed .The type of business being retail the cost drivers associated with this would be mainly aimed at buyer power. A cost driver is one which generates cost .This driver affects cost over a period of time .all manufacturing and factory expenses can be associated with the cost drivers. A retail business deals very intricately by the supplier power not only for accounts payable but also on heavy discounts on the products that they give. This goes a long way in determining the price of the product and margin money that the retail store can get. This is again called a cost driver.

The activity of Quality assurance of products and meeting the correct specifications are another cost driver in the retail segment. Though it cannot be directly associated with the entire department but it is an activity that generates cost hence this is a very important coast aspect in a retail store .

Another important cost driver in a retail store would be associated with the department activities and functions. One store may have to heavily indulge in cost to cost sale during weekends. This is a cost that can be directly linked to the activity of revenue sales .Retail industry is behest with different kinds of cost drivers. Though not clearly associated with direct costs which directly go into the cost of production, the cost drivers nevertheless look at the allocation base of cost in the retail industry.

Capacity management in the retail industry is another cost driver. The efficiency with which the organization is able to handle its supply chain is a cost driver.

2. Variance analysis:

A retail industry definitely needs to have a variance analysis done and ready Since cost associated are typically unstable and dependant on market variations it is important that the retail firm understand the variance between pre set standards and actual performance levels .

Variance analysis setting of predetermined costs which provide a basis of comparing the actual with the standards. The variance if any between the two is critically analyzed for reconciliation. This management accounting techniques which leads to efficiency and cost effectiveness of managerial process. Budget preparations usually use the standard costing procedure. It helps in coordination of all departments to realize the efficiency in operational costs and lead to excellence in efficiencies. It is ideal tools of cost control because ideally every firm would like to control cost reduce wasteful expenditure and set standards which are realizable. the periodic review of standards and actual throw light on operational efficiencies. Standard costing and variance analysis formulate price and production policies .when standards are established it becomes easy for planners to strategies their activities to meet the standards and estimates. The use of standard costing allows for basis of computation of selling price by giving relevance to selling prices. This is based on variance analysis which is a very important tool of control measures in an organization it is the process of computing and isolating the cause of variance between standards and actual by computing individual variances in costs and determining the cost of such variances.

A retail house has to prepare variance report because every item that appears in a variance analysis appears in the operating expenses list. Cost of goods solids a perfect example. A direct expense which forms part of variable cost also appears. All this are part of operating budgets and hence is referred to as a line item in a financial report.

Variance report deals with not only items in the cost profit volume analysis otherwise known as fixed and variable cost. It also reports variances in the form of mark ups and defective goods. It also shows the mark up on profits. Hence it is a line item reporting. Variance report is also known as the income statement which is prepared on a monthly basis. This also shows the operating expenses and revenue out of these items this is the basic financial statement and hence it is called a variance report because it concisely reports items of expenses and sales.

Which white-collar crime(s) would you target first, and why

(Name)

(Instructors’ name)

(Course)

(Date)

White Collar Crime

Which white-collar crime(s) would you target first, and why?

White-collar crimes have been defined as the sort of criminal offenses committed by individuals of high social status and respectability in the duration of their occupations. As a result, white-collar crime is closely related with corporate crime because the opportunity for bribery, fraud, embezzlement, insider- trading, money laundering and forgery are more available to white- collar workers. Though all white-collar crimes are significant, I would target four main types of white-collar crimes; these include public corruption, counterfeiting, tax evasion and bribery. The reason why I would target these crimes first is that they affect a large population of people not just a corporation or a few people (Green 23- 67).

These are crimes that can affect the economy of a corporation, and, therefore, a large group of people if let to spread. Public corruption is the white-collar crime that involves the breach of trust of the public, and the abuse of a public office. Generally, a government official might violate the law when they ask, accept, demand, solicit or agree to take anything in exchange for something else. Counterfeiting is the crime that involves the imitation or copying of items without authority and using the imitation for the original item. Bribery is the same as public corruption, only it also affects the individuals who accept to give anything in return for something else. Tax evasion is another significant crime that involves an individual failing to pay tax (Green 23- 67).

Are there any white-collar crimes you would pay little or no attention to? If so, why?

Yes. Though all white- collar crimes are essential and should be taken seriously, I would give some white collar- crimes less attention to. Examples of these crimes include such things as pyramid schemes, fortunetellers, advanced fee schemes, auto repair schemes, inside trading schemes, coupon redemption schemes, and advertisement schemes. The reason why I would not give these schemes a lot of attention is that they only affect those who are ignorant, and can be avoided if individuals act more diligently and if they inquire about the services being offered to them before going through with deals. Some schemes such as the advertisement schemes are some of the most common avoidable frauds. The advertisers usually warn individuals not to trust such advertisements but people go ahead and trust them. If people practiced more discretion and diligence, these crimes would be done away with (Green 23- 67).

What proportion of resources (money and personnel) would you devote to the different types of white-collar crimes and why?

To fight white- collar crimes, immense resources both in the form of personnel and money are needed. To efficiently fight these crimes, I would assign more money and personnel to the most significant crimes and less money and personnel to the crimes that are less serious. For example, I would assign more resources to such crimes as tax evasion, public corruption, counterfeiting, and bribery, money laundering and other forms of serious frauds. However, less money and personnel would go to less serious crimes such as pyramid schemes, fortunetellers, advanced fee schemes, auto repair schemes, inside trading schemes, coupon redemption schemes, and advertisement schemes because they do not need as much money to be addressed. Some of these crimes require intensive examination, audits, analysis and investigations to be able to come to the truth. The less serious crimes are more obvious and less to solve, and, therefore, need fewer resources to be solved (Hefendehl 761- 89).

What strategies would you apply and why?

There are various strategies that I would use to combat white- collar crime. The first step would be to notify the public about possible fraud schemes, and let them be aware of the imminent criminals. Another strategy would be to limit opportunities of fraud by coming up with internal controls and checking overrides of the established controls. Another strategy would involve managing incentives and pressures inherent in the process of business. Focusing on detection and prevention efforts on risks were possible financial losses are imminent is also another significant strategy. In addition to these, fostering a strong detection perception through fraud identification investigation and detection methods can also be useful. Zero tolerance policy to such crimes should be established, in addition to employing the most ethical employees as I can possibly get (Shapiro 346- 65).

How would you be able to measure your success?

In this case, measuring the success of the above strategies would mean that I would have to note a decline in white- collar crimes. If it were reported that white- collar crimes have gone down, then that would be a good measure of the effectiveness of the strategies. Also another measure of effectiveness if these strategies would be if the public offices perform more efficiently and effectively. Some of the most limiting aspects to the efficiency and effectiveness of most public offices are such white- collar crimes as public corruption and bribery. An increase in the efficiency and the satisfaction of the public about the efficiency of the offices would be an indication that the strategies are actually working. Another thing that can be a measure of success of the strategies is checking of the finances and accounts of a corporate or a public office and comparing the data with that of the previous years. If there is a significant difference then this could be a sign that fraud was present and it has reduced. In addition, if the complaints by the public decline of incidences of being a scheme, then this is a good sign that the strategies might be working (Dumaine 193- 6).

How long would it be until you could see results?

The time it takes for these strategies to work can be varied, varying from one organization to another. However, it should be noted that these strategies could take a while for changes to be noted especially because of the fact they involve the introduction of situations or strategies that can change the culture of the organization. Implementing organizational culture change is never easy and patient should be mastered in this case, as some organizations might take more than a year to implement the basics of fraud control and regulation. However, some changes are easier to manage, and, as it follows, they can be quickly and easily be implemented in a company in a short while. Overall, care should be taken in implementing these strategies because when they are not well designed and implemented into the business process of a company they can be ineffective and inefficient in flushing out white- collar crime (Shapiro 346- 65).

Works cited

Dumaine, B. ‘Beating Bolder Corporate Crooks’. Fortune 193- 96. Print

Green, Stuart. Lying, Cheating, and Stealing: A Moral Theory of White Collar Crime. Oxford: Oxford University Press, 2006. Print

Hefendehl, Roland. ‘Addressing White Collar Crime on a Domestic Level Any Lessons Learned for International Criminal Law?’ J Int Criminal Justice 8. 3 (2010):769-782. Print

Shapiro, Susan (1990). ‘Collaring the Crime, not the Criminal: Reconsidering the Concept of White-collar Crime.’  American Sociological Review 55: 346–65. Print

What it means to be Human

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What it means to be Human

The issue of human beings and what it means to be human has been present for centuries and for millions of years. Therefore, it is no surprise that philosophers argued and formed philosophies to deduce what it really meant to be human. This paper, therefore, will look at four of such philosophers who came up with different understandings of what human or what being a human means. The philosophers of interest in this case include such people as Descartes, Browning Cole, Dalai Lama, and Sartre all discussed in Kessler’s Voices of Wisdom.

Descartes raises essential questions as to what means to be a human being. As he argues his points, he points out to several major questions in philosophy like the issue of mind and body, the question if the meaning and existence of the soul and the question of human thought. From the brief statements he makes, it is possible to develop a perceptive of what makes or defines human beings and their nature in terms of the interaction of the mind, soul and the body in view of this philosopher.

One of the main arguments that the philosopher makes is that the human being is composed and made up of the soul and body, and he thinks of the two to exist in a substantial union or relation. To him, the human being is, therefore, not a body attached to a soul, or the other way round, rather as an entity that consists of a necessary soul and body. Losing one of these two, therefore, renders one inhuman. To him, hence, death results to inhumanity, as it separates the body from the soul. He also considers that fact that there is a reality in existence outside his own mind and that of humans because it exists or takes place in God’s mind.

To Descartes, therefore, a human being is defined not only by the body, but also by the soul, and the existence of a reality outside the minds of the humans, which exists in the mind of God. The existence if the reality of the minds of humans and that of God is seen when he argues that, ‘so Descartes believed he had established with absolute certainty the existence of his mind as a mental substance and the existence of a perfectly good God…’ (Kessler 462).

Browning Cole is another philosopher seen in Kessler’s book talking about the nature of humanity. She believes that the mind and the body are somehow bound or infused together, the thoughts of an individual exists in the mind and body. This is to mean that to this particular philosopher, for the embodied self, the mind and the body overlap and interact with each other, and the area where the mind and the body overlap and meet is where the thoughts of human beings, as well as, their self or their humanity exists. Therefore, if the body and the mind of an individual are linked together or are bound together, and if the thoughts of human beings exits within both the body and the mind, then the embodied self of humans would be a solution to the issue of mind of body presented by other philosophies.

She looks at the arguments of Plato and Descartes on humanity and human beings and concludes that an individual or human has within themselves a critical power dialectic in which their mind must win over their body and must trumpet this victory in constructs of rationality that is pure by means of which its reality and soundness id ratified and demonstrated. She argues that even though this general dialect is played out and witnessed in numerous cultures from popular morality to religion to existentialism even though it is far from being identified as an isolated peculiarity (Kessler 479).

Dalai Lama is another philosopher featured in this book with essential teachings on what it means to be human and humanity. Most of his arguments on how to be human, and what it means to be human are based on ethics. To him for one to be a fully functional human being, they must express certain ethical values, actions and behaviors. For instance, humans must have compassion, they must have the ability to love and they must take or view the world or the universe as an entity that they are part of and not as separate from them. These are profound, though, simple teachings that this philosopher, and spiritual leader, advices to all those individuals who want to be more human by bringing more love, understanding and compassion to the other people and their lives.

To Lama, most religious entities have the same ideologies if love, compassion and moral ethics all which are added on through spiritual practice, practice of which makes those who practice it better and whole human beings. Lama, therefore, was insistent on highlighting and teaching moral precepts as a way to perfect the functions of the body, mind and speech. The main goal of the teachings and the arguments of this great philosopher is unselfishness of human beings. The philosopher wanted to lead his followers away from deeds and actions that are negative caused by ignorance and introduce them to paths of good. The basic teachings and notions of Lama and his notions on what it means to be human, is that human beings should follow the paths that make them more tolerant, less selfish and more compassionate, as these are the features that define humanity.

Sartre is another essential philosopher in understanding what it means by being human. One of his key beliefs and arguments on humanity was based on existentialism, which led him to formulate the belief that essence comes after existence. Generally, this means that human beings are defined and formed by how they act or by their actions. This is to mean that an essential human nature is not present. Therefore, being a human being is an act of continuously becoming something or someone as shaped by the decision we make and our actions. According to this philosophy, human beings are continuously evolving and do not stop evolving until they die. According to him, one of the motivations of humanity is the fear of death, because death means the end of evolving and, therefore, the end of existence. The philosopher also took an approach to free will that was radically different from the approaches made by earlier philosophers. He thought that since humans were mainly defined by how they acted, then they were completely free. To him, every action a human being makes is made by him alone and the responsibility of being in complete control of how he acts lead to fear. Sartre argued that this existential fear is the price we have to pay for the freedom we have as human beings (Kessler 246- 48).

Work cited

Kessler, Gary E. Voices of Wisdom: A Multicultural Philosophy Reader. New York: Cengage Learning, 2008. Print.