Business research analysis Paper Example | Topics and Well Written Essays - 2500 words

Business examination - Research Paper Example Mean is 68 for area. With respect to the points, 69 is the mean. Once more, the mean for timing of occasions is 43. The last part, which is the domestics reason part, came about to 18 mean. The standard deviation for area is 47 Whereas, the standard deviation for subjects is 46%. The standard deviation came about to half for timing of an occasions. The last part is the standard deviation of 38% for household reasons. The enlightening insights will show that base for intrigued by the subject, organizing opportunity, self-awareness, expert and expert advancement is zero. The mean for intrigued by the subject is 54. The mean for the systems administration opportunity is 74. The mean for the self-improvement is 25. The mean for the expert advancement is 64%. The standard deviation for inspired by the subject is half. The standard deviation for systems administration opportunity is 44%. The standard deviation for self-awareness 43%. The standard deviation for proficient improvement is 64%. With respect to address how helpful is the gathering, 32.3 said the meeting was exceptionally valuable. At that point 38% of the populace said that they were very helpful. The following gathering expressed that the course was not extremely valuable. With respect to conclusions on the gatherings, 8.3% of the 300 populace said that the meetings were excessively formal. ... The mean for the expert advancement is 64%. The standard deviation for intrigued by the subject is half. The standard deviation for systems administration opportunity is 44%. The standard deviation for self-awareness 43%. The standard deviation for proficient improvement is 64%. With respect to address how valuable is the meeting, 32.3 said the gathering was helpful. At that point 38% of the populace said that they were very valuable. The following gathering expressed that the workshop was not extremely valuable. The other gathering of 14.7%. said that the meeting was not all valuable. As to sentiments on the meetings, 8.3% of the 300 populace said that the gatherings were excessively formal. The following gathering expressed that the meeting was about right have a place with 79.7%. At that point another 12%. said it was excessively casual. Foundation PUBLICATIONS (Please circle one reaction in particular) When gets some information about the recurrence of the establishment magazine, 9% said they were too not many while another 81% said they were perfect and another 10% expressed that they were simply too much. Of the complete 300 populace, 35.7% demonstrated they fulfilled while 39.7% said they were very happy with the substance of the organization magazine. Another 14.7% said they were disappointed with the substance of the organization magazine. The disappointed gathering is just 10%. The mean is .99. The standard deviation is 95%. The respondents stated, the mean for the review on data on meeting is 2 and the standard deviation is 78%. The data on nearby occasions study came about to 2.13 mean. This produced the standard deviation of 76%. Of the inquiry identifying with foundation advancements, the mean is 2.02. The standard deviation in this circumstance is 79%. Identifying with the subject enrollment

The Coal Miners in France During the Second Empire Essay -- World Hist

The Coal Miners in France During the Second Empire In this paper I will clarify why revolt by the work against capital in Second Empire France fizzled. To clarify the circumstance, I will utilize Marx's hypothesis of capital collection as he presents it in {Capital}. Moreover significant in the hypothetical portrayal of this marvels is the job of convention and the manner in which its restrictions go astray from those of the economy in this French society. In light of this depiction I will talk about how the capacity of the board is implemented by the economy and conventions inalienable in a general public. From these contemplations I will recommend extra components what's more, connections important for social relations change to rise above the institutional conditions in which they exist. Wording relevent to a hypothetical record of an occasion is given by Talcott Parsons in {The Structure of Social Action}. Here, activity is portrayed as a framework that might be isolated into unit acts. The unit demonstration comprises of four components. First there is a specialist, or on-screen character. Second, the act has an end which is a future situation or objective towards which the activity is arranged. Third, there is where the patterns of create ment vary from the end towards which the activity is situated. The circumstance is made out of two components; the conditions are what the on-screen character can't control as per his end, and the methods are that over which he doesn't have control. At long last there is a connection between these components; where a circumstance permits alterna-tive intends as far as possible, the course is chosen from the regularizing direction of the on-screen character. (Parsons, 1968: 44) So as to represent the interrelationships in the authentic occasion ... ... change. Occasions will therefore do not occur anymore yet accomplish significance in the light of the source that the charming component advocates. This change in regularizing directions comparative with the change in different components of the procedure must be reflected in the belief system. The belief system of social change may not just be a reiffication of the old in a reactionary structure. The substance of the philosophy, in being a reaction to the difference brought about by the economy and nation, must be, for example, to rise above that which preceded it. This last condition, indicating the relations between components essential for progressive change, may just be determined in a general public which is neither an natural, composite entire nor one of irregular atomistic finishes. Or maybe, the society must be one where the standardizing direction for intervening between conditions and means is one of accord.

Stablecoins, Rather than Cryptocurrencies, Might be the Future of Money

Stablecoins, Rather than Cryptocurrencies, Might be the Future of Money There’s a lot of talk about how cryptocurrencies are the future. Many people expect them to revolutionize how we do trade.In any case, aren’t they a product of technology and innovation? And aren’t technology and innovation the driving forces behind change and convenience?Cryptocurrencies have certainly come a long way. Since 2009 when Bitcoin was created, there has been no going back.You would think that Bitcoin was all that was needed. Or maybe just a few alternatives would be good enough for the expected change. Not so.New cryptocurrencies are always coming up faster than they can be counted. By the end of 2018, there were over 2,500 cryptocurrencies.However, only 25 out of those made up 90% of the total market capitalization.And you know what? Bitcoin took 59% of the total market capitalization of those 25. clearly, Bitcoin still reigns.Still, the cryptocurrency journey has been long. But there is certainly some progress.Coinbase, a leading US crypto exchange saw user numbe rs grow from 0.4 million in Jan 2017 to 5.6 million by June 2018.Of all ICOs (the cryptocurrency version of IPOs), only 8% have become successful.Fraudsters have also developed an interest in cryptocurrencies. Each day, scams cost investors $9 million worth of cryptocurrencies.But even with achievements, something still holds them back.To a large extent, there’s one thing that is really making it difficult for cryptocurrencies to replace fiat money.If this one thing is taken care of, then the revolution will indeed take place.This challenge is the inability of cryptocurrencies to maintain stable prices.As a means of exchange, it’s necessary that the payment method used should be stable. There’s no way a currency will be changing value radically as witnessed in the case of cryptocurrencies.Consider the below graph showing the price of Bitcoin in the span of 1 week. Source: OmenicsMaking Cryptocurrencies StableEfforts have been made to make cryptocurrencies as stable as possible. Unfortunately, they haven’t paid off. The reason is connected to the fact that these currencies are decentralized in nature.If you think of how fiat money works, the federal reserve (or any other central bank) is squarely in control.From the supply to the value, the central bank is in charge of keeping things in order.Of course, there are instances that even the central bank may find it difficult to do this. For example, in cases of extremely high inflation, all the normal actions which the central bank can take will offer little help.Such cases are however more of an exception than the norm. So generally, the control of money is central. Eliminating this central control is part of the vision of cryptocurrencies.And in all the research and innovation efforts, the solution seems to be stablecoins. At least as far as price stability is concerned.The stability of cryptoc urrencies will help drive adoption rates. Once that is done, there will be no stopping the revolution.But what are these stablecoins and how are they solving the stability problem?How Stablecoins Differ from Other CryptocurrenciesFirst of all, stablecoins are cryptocurrencies. They therefore have the same underlying technology as Bitcoin, Ethereum and the others.There is however a big difference which has been brought about by the need of stability as explained above.Stablecoins are cryptos which are meant to serve only this one purpose. With price value being stable, it will be easier for coin holders to be able to more easily determine the value of their holdings.Many of the stablecoins in operation attain their stability by undergirding their value using fiat money. The most common being the US dollar.This is referred to as collateral.Some however use different means to achieve the same results.There are at least three common types of collateral used by stablecoins.The type of co llateral is what usually differentiates them from one another at the highest level.TYPES OF STABLECOINSThe collateral used to make stablecoins stable is a form of asset. Since the asset has its own value, the value of the stablecoin then gets determined by the asset’s value.Whereas some assets are simple to understand, like the US dollar asset, some are relatively complex.Here is a brief discussion on the various types of collateral used.Fiat-CollateralizedThis is the most common and is also the easiest to understand of the three types.As the easiest to understand, it’s also the one which has received the highest adoption.And the currency used as collateral is the US dollar.Stablecoins having the US dollar as the underlying asset have attracted a lot of attention from stock traders. Early adopters have also jumped onto the bandwagon. Those new to the crypto world also find it easy to embrace them due to their simplicity.In this type, every coin is valued at $1. This means that t he rate of the coin to the dollar is 1:1.When the value of a coin is pegged at 1 US dollar, you can easily tell how much your investments are worth. In the real world of physical goods and services, you can determine how much you can own or do.For example, using the coin value, you can easily determine whether you can buy a new TV, car, home etc.The success in stability and adoption are however not without challenges.Fiat-collateralized stablecoins have been accused of going against the principle of decentralization.This is because fiat money is controlled by a central agency. All the control is therefore in the hands of that agency. As such, critics raise this as an issue and attempt to invalidate the coins.An example of this is Tether (USDT).Crypto-CollateralizedAnother form of collateral is using a different cryptocurrency. This has its own set of challenges.Naturally, all cryptos are unstable in their value. In order to achieve acceptable stability, these stablecoins peg their v alue on a mix of cryptocurrencies.This provides a shield because the coin does not depend on only one crypto as collateral.Still, these stablecoins are not fully stable and haven’t been embraced much. The fact that the mix of collateral is the same unstable cryptocurrencies makes it difficult to attain stability.All the same, these are more accepted among the cryptocurrency community compared to the fiat-collateralized coins. This is because they maintain decentralization.An example of this is MakerDAO/DAI Non-CollateralizedThese stablecoins are the most technically advanced of all three. Their lack of collateral is based on complex algorithms which find their basis in economics.Having no collateral, they rely on their own systems to control the supply and value of their coins. This is why they are also referred to as algorithmic stablecoins.As such, these coins handle both these aspects using the code specified during creation.The supply of any currency is directly connected to i ts value.Therefore, to reduce an oversupply which reduces the value, the system comes up with “bonds” for selling. As speculators buy these, the supply of the coins reduces.If the supply is too low, thereby increasing the price, more coins are issued. This has the effect of bringing the price back to the defined normal.Algorithmic stablecoins utilize the system of Seigniorage Supply to achieve this. And interestingly, this mode of operation is actually what is done by central banks.One of the ways central banks regulate the value of their currencies is by controlling supply. If there is an option which is truly technology driven, then it is this one.As with the other types, a challenge exists for these too. The bonds can be a tricky investment option since they have to guarantee a profit.An example of this is NuBits (USNBT).BENEFITS OF USING STABLECOINSStablecoins have undoubtedly ushered in a new dawn. This is especially for early adopters of technology and speculators.And as t heir stability continues dominating conversations, more entrants are coming into the market. This is how the market looked like as at May 2019. Source: Finance MagnatesTheir use has been embraced for a variety of reasons.Here are some of them.Make it Easy for Cryptocurrencies to be AdoptedThe original cryptocurrencies were difficult to understand, thus difficult to both appreciate and embrace. All the technical jargon and explanations left many believing that this was for geeks.It was difficult to prove their use in the real world of exchanging goods and services. But stablecoins are slightly different, especially the fiat-collateralized type.When you explain to a layman that stablecoins are a form of digital money, it’s easy to see how. The fact that one coin has the same value of one US dollar makes it easy to be understood.Once it’s understood, then adoption becomes easy. And if they can be widely accepted, then they will have achieved their goal.Reduced VolatilityAs their name suggests, these coins are intended to be stable in price. That is also the biggest reason for their developmentâ€"reduce price volatility.To t his end, all the three types are promising acceptable results. But of the three, the fiat-backed stablecoins are the winners this far.A coin like Tether   has already experienced a lot of success on this basis.The coins backed by other cryptocurrencies are yet to be widely embraced.This is because of the underlying challenges with cryptocurrencies generally being unstable.It thus doesn’t become easy to convince someone that a crypto will be stable yet it has its backing on an unstable asset.Can Be Easily ValuedStablecoins, especially the fiat-backed type can easily be valued. It’s actually as easy as just getting the account balance and using the dollar symbol to understand or communicate the value.For example, you may have 1,000 Gemini Dollars. This simply means that you have 1,000 US dollars. This will make it easy for adoption into the daily transactions in the world.For example, a camera may cost $100. To buy it, you will only need 100 Gemini dollars. This means that to enab le payments at the POS, only a stablecoin payment option may be needed for the retail outlets.When developers come up with these, everything will flow quite easily.Faster and Cheaper Money TransferBeing a digital solution, there are bound to be many advantages of this technology. One of them is that they facilitate faster and cheaper money transfer.Imagine a situation where it usually cost your bank $2 to transfer money to your relative in another country. This is the total cost from the employee, power bill and audit for human error.Now imagine all these removed. Probably the cost of system audits is 50 cents. If the bank is to use an advanced means for the transfer, it will be both cheaper and faster.This is what JP Morgan is doing using their JPM Coin.LIMITATIONS OF USING STABLECOINSNothing can be all advantageous and lack any disadvantages.As stablecoins continue to grow towards maturity, it pays to consider their shortcomings.This will help you determine whether to jump in righ t now or to adopt a wait-and-see attitude.Most are Only Backed with the USDThere are several stablecoins which are already enjoying some degree of acceptance.These are mostly the fiat-backed types. Whereas that is a good thing, there is one potential drawback.Most of them are pegged on the US dollar.This might be as a result of many of the companies being American. It might also be due to the fact that the US dollar is the currency used in international trade as well as in holding reserves.Either way, this may prove problematic. Being new and with little proof of tested and verified long-running successes, over-reliance on the dollar may not be the best idea.As it is, some countries and regions are already toying with the idea of abandoning the dollar for use with reserves. Some are suggesting different currencies for reserves while others are looking to return to gold.Since stablecoins are aiming at replacing fiat money, consistency is a must. Just as fiat money was initially based on gold , the same needs to apply to stablecoins.But having one currency as the backbone of stablecoins may not work for the long-term.In any case, as a technological solution, other countries will obviously want their currencies to be the collateral.And just how practical will it be, for instance, for China and Iran to run their stablecoins on the USD?Do Not Factor in InflationIf you are an investor, you know that you can never value your investments at a 1:1 rate to the dollar. Neither can you do the same with any currency.Why?There is inflation to be factored in.One principle of investment says that the value of money held today is not the same as of money to be received tomorrow. This is referred to as the Time Value of Money. For example, you may buy 1,000 stablecoins. At the moment of purchase, your investment is worth $1,000. However, what happens if the rate of inflation rises?With a higher inflation rate, the value of money reduces.The 1:1 rate of value stays the same. If $1 becomes less valuable, so does your investment. This means that stablecoins do not provide investors any considerable protection against inflation.Fiat-Collateralized Type Aren’t DecentralizedAs cryptocurrencies, stablecoins need to maintain a decentralized nature.This is one of the criticisms the fiat-backed type is battling. And although it has already taken off and seems to be gaining popularity, some are rejecting it for being centralized.The fiat-collateralized stablecoins have three main points of control.The first is the underlying assetâ€"in most cases the USD. The US dollar is itself controlled by a central agency. As such, it is a centralized system. Secondly, the money used to back the coins must be available in a physical sense for the sake of withdrawals back to USD.That money is usually stored in a bank.That is another party introduced right there. Mind you, the bank is controlled by its own management.It’s also under the control of the same central agency contr olling the USDâ€"the federal reserve.The third point of control is the organization running the stablecoin.The way cryptocurrencies originally function, is by setting all the rules in the code. There is very little change from external sources that can be done to change how things work. If there is a need for change, forks are developed.But in the case of these coins, change can be introduced at various levels. This is against the philosophy of cryptocurrencies being decentralized.Requires Faith in the Underlying AssetOne of the biggest limitations is the need to have faith in the underlying asset.If the coin is backed by the USD, then you must have faith in the USD.You must first of all believe that it is a worthy asset to back your coins on. Although the US dollar has for decades enjoyed the faith of many, geopolitics can easily bring about changes to this.And before that even happens, there is already a stablecoin backed by the Euro and a stablecoin backed by the Japanese Yen.The se inconsistencies might be okay for local trade. But for international trade, there has to be one asset being used just as the USD is currently being used.CONCLUSIONStablecoins are under continuous development and improvement.Still, they have already established themselves as a possible future of money.If only the challenges facing them can be conclusively addressed, then we might experience the biggest change of the millennium.

Gallaudet University Admissions ACT Scores, Admit Rate

Risk Management in Healthcare - Free Essay Example

Sample details Pages: 10 Words: 2951 Downloads: 1 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Health Care Management Task 1 Background of the organization Healthcare has been an important aspect in people’s lives throughout the centuries but as we all know our human resources are starting to deplete. Medacs Healthcare provides healthcare related jobs for foreign or local professionals with proper training and experience. Medacs provide exceptional service and good healthcare service by hiring highly trained professionals to fill in absences and understaffing of different hospitals or rest homes all around Auckland. Don’t waste time! Our writers will create an original "Risk Management in Healthcare" essay for you Create order Medacs Healthcare is one ofthe top international employment agencies for Healthcare related jobs here in New Zealand. Every year hundres of people coming from different countries come to New Zealand and are given opportunities to enhance and improve their skills in healthcare management. Healthcare professionals that are being entertained by Medacs healthcare are nurses, doctors, healthcare assistants and others allied health professionals. Medacs Healthcare offers a variety of fields in healthcare that professionals may engage into. These professionals may take on but not limited to Forensic Medical, Prison health, Primary care and Occupational Health. Purpose of Risk Management in this Organization Risk Management’s purpose is to recognize possible, impending, imminent problems and conflicts before they even occur so activities that are risky may be considered and planned. Risk management should also assess and tackle issues that may cause danger or hinder achieveme nt of objectives set by the institution to control any uncertainties. A regular risk management should be done to diminish and anticipate the risks that may have a direct effect on the organization and the way it functions. Risks to patient/clients, hospital staff, and the organization itself are common in healthcare. Risk management focuses on eliminating or preventing these risks involving healthcare such as negligence, malpractice, miscommunication, events that may lead to patient harm and others. Having no risk management plan in this healthcare institution may lead to serious problems, lawsuits, and long term consequence that may compromise how we care for our patients and in the long run may lead to financial losses. Benefits of Risk Management in this Organization Having a good risk management plan in this institution limits conflicts and problems encountered during the operation of activities. Risk managements also limit repetition or errors, eliminate risks that ma y snowball to a bigger problem and analyze conflicts inside the institution. Achieving compliance with regulations is also one of the key benefits of risk management in this institution because once risks are identified and eliminated; standardization will follow by limiting errors previously identified, consistency in how employees work and regularity of processes inside this institution. Performance of employees may also be improved due to awareness in such risks that may lead to different negative effects towards this organization. Identification and elimination of risks can also lead to good feedback from our clients/patient which they interpret as good service. Also, some key benefits of implementing good Risk Management includes less surprises or untoward events, effective use of resources such as facilities and human resources, and reassurance of stakeholders on their stocks in this organization. Accepting opportunities and preventing issues to happen can make a difference in this organization’s well being. Effective risk management helps this organization to be prepared for them. This preparedness and readiness may save an organization time, money and other key items that may help an institution improve and grow. Effective risk management may include untimely and aggressive risk identification through the teamwork and participation of stakeholders, leaders and employees of this institution. Good risk management leads to good service. Good service means satisfied clients/patients. Satisfied clients mean less profit losses. Components of Risk Management and their Relation to the Overall Rate of Risk management A review of activities and internal environment of the organization. Medacs nursing is located at Level 6, Ferncroft Street, Grafton Auckland. Medacs nursing employs professional staffs that may serve as a temporary, reliever or substitute due to lack of employees in a rest home or hospital. They provide opportunities to reli eve the said slots but no guarantee of work during a week. Medacs nursing requires hired professionals to call the main office weekly for them to know the availability of each person. When clients hospital/ rest home needs a reliever, they phone medacs consultants and request for a substitute employee that has the same skills, experience and knowledge on their assigned position. The consultant then processes the request and checks the system who met the criteria set by the client institution. Once set, the consultant then calls us employees if we are going to accept the shift or not. That is the reason why we need to send our availability weekly to them. Once we accept the offer the consultant then provides the client institution our personal data especially our name. We are then submerged in a healthcare setting which we then do routine cares and assist New Zealand registered nurses and other healthcare assistants. So our organization is Medacs healthcare but our workplace and envi ronment is hospital or rest home setting. After our shift, we let our senior healthcare assistants or nurses sign the time sheet provided by Medacs as a proof that we completed the shift. Setting of objectives The main objective of the organization is to be the principal provider of highly trained healthcare professionals in different healthcare institution in New Zealand by giving our clients good service, quality of care and professionalism. Also, this organization aims to assist healthcare professionals find a suitable position that may give them a new lifestyle, personal growth and professional development. Event identification As we all know, unexpected events may occur throughout the day to day activities of an organization. These unfortunate events or condition affects the mission objective of the organization when it happens. These events may be related to different aspects inside the organization and we may categorized but not limited to as operational, empowere d, information technology, organization’s integrity and its financial undertakings. Risk assessment with particular reference to the impact and likelihood of risk Identification of hazards and prioritizing what risk to take into consideration first is an important aspect for this would be the initial contact in risk assessment. Identifying hazards and deciding who may be affected by these hazards is a good starting point in the process Risk response plan Risk response planning is the method of budding options and identifying actions to improve good opportunities and eliminate issues or threats to the company’s goal and objectives. Risk response planning must be SMART as we all say in the nursing field.(systematic, measurable, attainable, realistic and time bound). Control and monitoring of activities Risks all around us can never be completely eliminated, but it can be managed. Controlling these risks may involve a different approach in strategie s, correcting some action that led to the risk itself or re plan the whole process or project. Monitoring these activities may also prevent risks and errors from happening again. As the organization matures, risks or challenges changes. The organization should adapt and improve the risk management process in it. Operational event Events that may alter the smooth daily routine of the organization such as early termination of duties or assignments, cancellation of assignment a few hours prior to actual duty, client organization refuses to accept substitute employee and others. Early termination of duty assignment means that your assignment ended earlier than the expected end time. Refer to table 1.1 for further depth, risk identification and risk response plan. Table. 1.1 Event Risk assessment Risk response plan Control of activities and monitoring For example, you were assigned as a watch (meaning to watch over) in community health work and your patient suddenly died for an expected cause in the middle of your shift. That means your work hours may be terminated early and you must contact any coordinators from the organization. It may cause risk not only to Medacs healthcare but also to the employee. It is a risk in the organization and employee because it may put the employee in harm. This event is unlikely to happen. It may happen but not all the time. Medacs healthcare briefed their client, they should always let the Medacs staff finish their assignment. They also made us aware that we should not exit our assignment area before our required time of finish. Medacs employees are instructed and are required to stay in their assignment area until the end of their shift. Staffs are given time cards where they put in the time of their shift and assignment area. These time cards are then collected weekly for collation and weekly paycheck. Another example is cancellation of duties/ assignments a few hours prior to the scheduled time where in employee is already on his/her way to the assigned area and suddenly it was cancelled due to some reasons We may also see this as a risk because unhappy employees and staff can also be harmful in an organization they’re in. We may see this event can affect this organization highly. This risk is also unlikely to happen. Medacs always make sure that employees are updated on their assignment areas and time of their shift thru phone calls and text. Medacs has a list of all the availabilities of their staff that are given weekly by themselves. If ever the assignment was cancelled the employee is informed right away and an explanation is needed from the client hospital/resthome is needed. Empowered event Events that relate inappropriate and inefficient assignment to as staff or employee. For example in a hospital setting, a newly hired employee was directly hired as a manager with no experience and no trainings at all. This is an example of empowered event risk because the management delegated a task to a subordinate incompetent of the job itself. In healthcare, this may affect highly as we are dealing with lives and patients here. Please refer to table 1.2. Table 1.2 Event Risk assessment Risk response plan Control of activities and Monitoring Another example in healthcare setting is what we (Filipino registered nurses) are experiencing right now. We are trained as nurses in the Philippines but not trained here in New Zealand. This may be a risk because we are not trained as nurses here in New Zealand. This may cause serious errors and problems in an institution. This event is unlikely to happen because this risk may be eliminated easily. This organization then assigns us to be Health care assistants in order for us to familiarize ourselves in some nursing processes here. We are then required to attend a competency assessment program if we really wanted to be registered nurses here in New Zealand. Trainings and other programs that help improve patient care is recommended in organizations like this. Upon hiring medacs healthcare requires us some certificates that proves we are trained to do such activities e.g. Basic life support certificate. These certificates are then collated and kept by the organization themselves for future reference. Environmental External events that may alter progression of company’s well being such as workplace hazards (fire hazard inside the institution), security, infection control, maintenance of facilities. These factors may cause harm or lead to serious effects once untreated and unnoticed. Healthcare facilities are prone to environmental hazard. Table 1.3 Event Risk assessment Risk response plan Control of Activities and Monitoring Take for example a sick patient. That patient came in contact with health care personnel, then that personnel came in contact with another patient sharing the microorganisms from the latter. The second patient who came in contact with the second patient has a tendency to acquire a new infection. And this risk is highly to happen in a healthcare instituiton Medacs healthcare focuses on handwashing for infection control. They even gave us handouts during the induction phase for infection control. Evaluation forms were also given to us upon induction. These evaluation forms are completed by our immediate senior in the institution regarding our performance including patient care. Another hazard in healthcare environment is natural calamities such as earthquake, fire and the likes This can lead to patient injuries that may aggravate patient’s condition and the structure of the organization itself. Hazard themselves are likely to happen. Medacs healthcare has an emergency preparedness plan for their organization themselves and hospitals where we do our duties have one as well. Hospital make sure that their fire extinguishers are potent and checked up to date. Even escape plans are explained. Integrity Events that may relate to criminal and deceitful behavior that may influence both material and immaterial resources of the organization. In simpler words, these are events that may put the company’s name in lawsuits and decrease its reliability thru the eyes of client hospitals. This aspect of event identification affects greatly the organization because the name of the company is at stake. It may also affect the marketing and commercialization of the company. Table 1.4 Event Risk assessment Risk response plan Control of Activities and Monitoring An example of this is medication error that transpired inside the facility. Medication error can cause harm to the patient. Also, medication errors may aggravate patient’s condition or worse, may cause death. This event may put the staff involved and the organization itself to multiple lawsuits which we all don’t want. This is highly unlikely to happen because we healthcare assistants are not allowed to medicate. Employees of medacs healthcare are asked not to do jobs that aren’t yours that may cause harm to the patient or people around you. If a medication error or a mistake occurred in your assignment area and proven that you are involved, you are required to write an incident report to be passed in the institution and medacs healthcare. Investigation will then happen. Reporting these incidents may prevent this things to happen again. Other examples are sexual harassment in the workplace These behaviors may sprout complaints from employees, clients and patients from that organization. These event may be possible because of some demented patients or other sexually preoccupied staffs. Medacs gave employees a brief explanation on how to act in the hospital, grooming and proper uniform. Incident reports or formal complaints may be filed against the defendant and investigation will occur. Furthermore, behaviors like this is escalated to the management of the client institution Financial This aspect means any event that may involve monetary aspect of the organization. This event identification aspect may be related to lower incomes, money losses, and higher company expenses than expected. Money in a company is like oil in a machine. It makes everything run smoothly. No money means more corrosion will happen inside the organization that may lead to serious trouble such as bankruptcy and the likes. Table 1.5 Event Risk assessment Risk response plan Control of Activities and Monitoring Some examples are delays in payroll of employees and These may cause employees to be unhappy with their employer. This is event may happen but can be prevented. Medacs make sure payrolls are being disseminated accordingly because it is managed by another bub branch inside medacs (payroll committee) Staffs are given time cards where they put in the time of their shift and assignment area. These time cards are then collected weekly for collation via email of fax and for our weekly paycheck. lawsuit requires financial support to maintain the credibility of the organization. This event may happen but can also be prevented. Proper decorum, proper trainings and jobs description are some of the plans in the prevention of this risk. Whenever incidents inside the institution occur, we are obliged to make an incident report for the institution to know what happened. These are then collated and monitored the recurrences. Information system These aspect shows the risks linked to information systems and information technologies. It may also mean a good communication inside the institution. Good communication is important. That’s why in Medacs Healthcare, good communication is required. We are required to send our availabilities for the next week via phone call and assignments or duty areas are being said and shared via phone call as well by coordinators. Emails regarding trainings are shared between coordinators and employees as well. A good flow of communication system lessens the risk of miscommunication thus it an important aspect as well for it will greatly affect the outcome or evaluation of the organization. Some examples are as stated above and explained in a different aspect of event identification. Information and communication Dissemination of information and communication is important in an organization. If an employee sees a risk in the workplace, Medacs healthcare suggests that we should i nform them right away. Technology is a big help nowadays. Medacs healthcare make sure that they’re available for us employees. Upon induction they informed us about their contact numbers, emails and who to talk to whenever we wanted to ask for help or we wanted to share some problems in our assignment. They even offered us some one-on-one conversations whenever we feel like talking about problems and risks in our assignment areas. We are also required to report incidents that transpired in our assignments areas like falls and other injuries that happened to patient. Then an investigation will happen regarding the incident on what steps will be taken to eliminate or prevent the same incident to happen. Emails may also be sent in our accounts regarding proper training programs to enhance our skills to prevent recurrences of error and eliminate these risks. Keeping us updated regarding changes and what’s happening inside our organization is really helpful in the preventio n of issues and promoting more opportunities for the organization. Roberto S. Recto Jr. Health Care Management (Level 7) Risk Management

Globalization of Enterprise Free Essays

2012 Nigel. S. Paltoo – A11904 10/9/2012 Globalization of Enterprise 715 GE Source:Flikr. We will write a custom essay sample on Globalization of Enterprise or any similar topic only for you Order Now com ASSIGNMENT COVER SHEET(to be completed by the student)| AIB student ID number:| A11904| | | Student name:| NIGEL. S. PALTOO| | | Course name:| MBA -GENERIC| | | Subject name:| Globalization of Enterprise 715-GE| | | Subject facilitator:| Dr. Brian O’Toole| | | Teaching Centre:| NATIONS UNIVERSITY-GUYANA| | | No. of pages:| 17| | | Word count:| 2708 from Intro to Conclusion (2500 +10% tolerance) | | | DECLARATION| I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. | ASSESSMENT SHEET(to be completed by the examiner)| Student name:| NIGEL. S. PALTOO| | | Course name:| MBA -GENERIC| | | Subject name:| Globalization of Enterprise 715-GE| | | Assessor/marker:| | | | COMMENTS| Principles learnt (for example, number and understanding of principles referred to, their influence on the structure of this paper, number and correct citations of  references, use of appropriate jargon)     | | /4| | | Application of principles. That is, the  analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification| | | /8| | | How well the example problem was described, including the extent and depth of information (including the data) about it that was accessed| | | /4| | | Structure and presentation| | | /2| | | Style, grammar   and language| | | /2| | | Total | | Less penalties| | GRAND TOTAL| /20| General comments| | | | FOR MODERATOR’S USE ONLY| I agree with the assessor’s assessment I disagree with the assessor’s assessment and the new mark is as follows for the following reasons: | /20| | Moderator:| | NATIONS UNIVERSITY–GUYANA ®AUSTRALIAN INSTITUTE OF BUSINESS-MBA  ®GLOBALIZATION OF ENTERPRISE-715 GEASSIGNMENT Comparing and contrasting two countries for international expansion into by local apparel company Denmor Garment Manufacturers. | Assignment: You are the manager of a business (in your country or region) that is thinking of going global. Compare and contrast two different overseas markets for the international expansion of your business, covering a consideration of: 1 †¢ Political economy issues †¢ Cultural issues 3 †¢ Entry strategy 4 †¢ Strategic alliances Start your assignment with a very brief description of the entrepreneurial business that you are writing about. This business can be your own business or one that you are familiar with, or it can be a hypothetical one based on an amalgam of several businesses of which you are aware. Conclude the assignment with whether the business should go to one or the other of the two countries, or non e, or both. The total number of words should be 2500 words. For penalties regarding exceeding the word limit, please refer to AIB Style Guide. For guidance on how to write an assignment, please refer to AIB Assignment Guide. Please note, the word count does not include your cover page, an abstract, table of contents, list of references or appendices. Thus you can place any supporting material that exceeds this word limit into appendices. However, a reader should not have to look at an appendix to know about the main thrust of the points you are making in your assignment. So make sure all your main points are in the body of your report and refer there to the appendices that will support the points you are making in the body of your report, because the reader may not look at the appendices otherwise. Abstract: In the last quarter of the 20th century to present day the world economy has become more integrated and interdependent than ever before, with businesses both large and small expanding beyond their traditional local markets as barriers to world trade came down and technology advanced resulting in significantly lower communication and transportation costs. This phenomenal change in the international environment in which business is conducted has resulted in increased levels of foreign direct investment by companies from developed countries in lesser developed economies such as the Third World as economic benefits were sought through the globalization of production as well as markets. (Hill 2011, p. 5) With the benefits being widely seen to outweigh the disadvantages smaller companies are looking for the arrangements internationally that would best serve their interests of growth and expansion with companies from lesser developed countries now also looking to capitalize as well by creating synergies at the basic level by expanding their market horizons overseas, penetrating first and expanding as demand and relationships develop. This shift in the world economy towards greater integration and interdependence is one way of describing Globalization (Hill 2011, p. ). Globalization can be seen as the increase of functional integration between internationally dispersed economic activities, which is quite recent, as opposed to the older phenomenon of â€Å"Internationalization† which refers to the geographic spread of economic activities across borders and oceans which started in the 17th century when the colonial powers started dividing up continents in the New World in search of raw materials and markets (Devaraja 2011). In Guyana, the more established companies have been seeking avenues to expand their markets overseas through exports and by establishing lower level strategic alliances. Hardly any local company has sought to globalize its production to increase its profitability. For any company looking to embark on international venture the interdependent political, economic and legal systems of the target country along with its underlying cultural fabric must be examined and analyzed in detail before any investment is made (Hill 2011, p. 45). In Guyana, a small English speaking, third world country in South America, the more established manufacturing companies have been seeking avenues to expand their markets first through exports and also by establishing lower level strategic alliances overseas. Denmor Garment Manufacturers (DGM) is one such SME within the apparel industry in Guyana that has benefited from the effects of Globalization by having contracts to manufacture specific designs from companies owning major brand names in the USA (which are looking to lower their production costs) as well as by exporting directly to major retailers overseas. Table of Contents| Page. | 1. 0 Introduction| 9| 2. 0 Denmor Garment Manufacturers| 9| 3. 0 Current Situation with DGM| 10| 3. 0 The challenge of international expansion| 11| 4. 0 Political and Economy Issues| 12| 5. 0 Cultural Issues| 15| 6. 0 Entry Strategies| 16| 7. 0 Conclusion| 17| Bibliography| 18| 1. 0 Introduction: The aim of this research is to analyze the potential of two countries short listed as possible candidates for the further international expansion of DGM. These two options are reviewed in the perspective of the main issues that have to be taken into account when considering business expansion into foreign markets viz Political economy issues, Cultural issues, Entry strategy and Strategic alliances with the state of affairs in both countries being compared and contrasted with a decision being arrived at as to whether to expand into one, both or none of the two countries. It would be impossible to look at all aspects of the Socio-Economic, Cultural and Political landscape of the countries being considered therefore only the reas most likely to have an impact on DGMs’ venture are considered in the context of the nature of its business and the products on offer. Denmor Garment Manufacturers (DGM): Location: 7, 8, 9 Coldigen Industrial Estate, East Coast Demerara, Guyana. DGM is a private company in Guyana which commenced operations in 1997 and currently employs 1000 persons of which 97 % are women. Denmor has the capacity to respon d to orders of up to 50,000 dozens of garments per month, and can produce up to 15 different styles at the same time. Approximately 75 percent of Denmor’s activities involve full production (where the manufacturer manages all aspects except design), demonstrating an ability to carry out value-added manufacturing activities and supply-chain management. 100 percent of its products are exported, with its customers including some of the world’s leading brands and department stores, including Russell Athletic, Victoria’s Secret, Paris Accessories, Van Heusen, JC Penny and Wal-Mart. (Goinvest n. d) 2. 0 Current Situation with DGM: As it is DGM is presently a small part of a buyer driven value chain environment where the large retailers, marketers and brand name manufacturers have established a diverse decentralized network of production in third world and developing countries and are leveraging at the design and retail stages (Devaraja 2011). Having had a fair degree of success from its operations and acquired considerable know-how from its alliances DGM is looking to expand its market base and production capacity but is constrained locally by the limited supply of labour for any new factory and weak local demand for beach wear and sport uniforms. The key processes of DGM’s operation are very labour intensive involving the cutting of fabric and making of components by sewing machine and assembling into final product, this requires a semi-skilled to skilled level of labour. The challenge facing DGM is to remain a competitive player and to be able to increase profitability either by getting a bigger bite of the value chain from the companies overseas (expanding more into full production),developing its own brands or by securing new large brand name manufacturer customers and orders. It is therefore important that DGM look to increase its factory capacity while at the same time keeping costs down thereby increasing attractiveness to buyers. Faced with a limited labour supply and a high cost of energy and sometimes erratic power supply for sewing machines and air-conditioned factories it has become critical that DGM seriously consider the alternative of moving overseas. After much consideration DGM’s management has concluded that the area with greatest growth potential would be to expand using its own designs and brands. DGM has acquired significant expertise in the production of high end female underwear and in athletic uniforms from producing Victoria’s Secret products and Russell Athletic brand uniforms for the US NBA and is confident that it can tap into the supply chain for fabrics and using its own design team produce a new line of female underwear, beachwear and generic soccer uniforms that would have a higher quality and a far cheaper price, however in Guyana it is constrained by weak local demand and labour supply. . 0 The challenge of international expansion: Like any other firm contemplating international trade is faced with three strategic decisions about which countries to enter, when to enter and at what scale the entry would be. Consideration would have to be given to potential opportunities as well as areas of risk which must be closely analysed (Hill 2011). The countries selected for consideration would first be compared and contrasted with their distinct political, economic and cultural realities being looked at then options relating to possible entry strategy (ies) will considered along with strategic alliances that may be advantageous or required The two countries being considered for expansion into are Brazil and Trinidad. Before these two countries would have been brought up for further consideration they would have been on a longer list of potential candidates he rest of which would have been eliminated with Brazil and Trinidad meeting the basic criteria of having a significantly larger population than Guyana, they are both developing countries (better off economically than Guyana), with a free market system in place, manageable national debt and single digit inflation rates and both countries are geographically close by. A decision has been made that once the two options are found to be acceptable then entry into that market will be made within six months. Map of South America and Southern Caribbean Islands showing Brazil, Guyana and Trinidad Tobago. Source: www. worldatlas. com Political economy issues: Brazil and Trinidad are both democracies, having had free and fair elections for the past two decades. Both countries currently have female presidents. Brazil is a Federal republic consisting of twenty-six states the smallest of which is far larger than Trinidad which is a twin island republic with a sister island Tobago. Both countries can be considered politically stable with the most recent incidence of serious turmoil being twenty two years ago when Trinidad had a failed coup with members of the Jamaat al Muslimeem trying to seize power. Individualism is respected in both countries but more so in Trinidad. Indicator| Brazil| Trinidad| Size | 3,287,357 square miles| 1,980 square miles | Population| 197 million (2011 est. )| 1. 3 million (2011 est. )| | | | Government| Federative Republic| Democratic Republic| Legal System| Brazil is a former colony of Portugal. The Brazilian legal system is based on Civil Law. | Former British colony. The legal and judicial system is based on English common law and practice. | ECONOMIC| Brazil| Trinidad| GDP| GDP USD $2. 45 trillion Brazil is the sixth largest economy in the world. | USD $ 24. 63 billion| GDP per Capita| USD $4,803| USD $16,699| GNI per Capita| USD $11,500| USD $24,940| Exchange rate| BRL 1. 00= GYD $100. 00| TT $1. 00 = GYD $30. 00| Inflation | 5. 24 %| 5. 4%| Reserves| US$ 349. 708 billion| US$ 9. 692 billion| Debt as a % of GDP| 65. 1%| 37. 3%| Unemployment| 6%| 5. 5%| Source: Communicaid and Central Intelligence Agency World Fact book and www. tradingeconomics. com The data presented indicates that both Brazil and Trinidad are about as politically stable as Guyana with both countries being economically better off. However in Brazil there is a greater divide between rich and poor and a higher level of crime relative to Guyana and Trinidad. Both Brazil and Trinidad are currently experiencing low levels of inflation and unemployment Brazil unlike Trinidad has a tax on financial transactions; Brazil is far more bureaucratic when it comes to starting a business taking up to six months to get all the paperwork done whereas in Trinidad it is considerably easier and should only take one to two months. In Brazil getting certain legal permissions for establishing a business expedited may require the payment of bribes. There are no limits to repatriation of registered capital and no taxes on profits repatriated from both countries. DGM would have to consider the higher level of bureaucracy in Brazil when it comes to getting things started (which creates opportunities for bribes to be extorted) as compared to Trinidad. A business class visa is required for investing and doing business in Brazil with a minimum level of investment being USD $50,000 being required. A Guyanese can transact and conduct business in Trinidad without a visa; however a work permit would be required. In Brazil it may be necessary to hire a middleman (despachante) to navigate the maze of bureaucracy. (CIA World fact book 2012, Communicaid 2012). On the key issue of protection of property rights both Brazil and Trinidad have legal provisions for the protection of real assets and intellectual property rights, both countries having signed international agreements, however, the judiciary in Brazil is inefficient and subject to political as well as economic influence with piracy of copyright material being fairly widespread. Brazil presents a higher degree of risk due to lower levels of property rights protection. Trinidad unlike Brazil is a member of CARICOM just like Guyana which allows free trade among members. There is a free trade zone in Manaus in Brazil. Taxation in Brazil is extremely complex and not as uniform as in Trinidad. Cost of labour in both Trinidad and Brazil is higher than in Guyana but is more available. Cost of energy is cheaper in both countries relative to Guyana. (CIA World fact book 2012, Communicaid 2012). Politically and economically there are fewer challenges for DGM to expand to Trinidad as compared to Brazil, however with inflation levels and unemployment levels being almost equal and exchange rates being stable there is still a degree of attractiveness to expand to Brazil if ways around the red tape can be achieved. CULTURAL ISSUES: Cultural differences can present a variety of problems when looking to conduct business in foreign markets; from language barriers, employee behaviour and work ethic to strategic planning, it is therefore essential that entrepreneurs familiarise themselves with more than just the laws governing a society and obtain an understanding of the underlying values,norms and mores so as to be able to discern what is different and what is the same, what is acceptable and what maybe considered taboo or disrespectful. (Hill 2011) Trinidad is an English speaking Caribbean country with a diverse multi ethnic society that has fused relatively well into a distinct â€Å"Trini† culture with a mix of East Indian, African, European and American influences, religion is mainly Christian, Hinduism and Islam. Carnival is celebrated annually with Soca and Calypso music, elaborate costumes and floats, parades and beach parties over a one week period. Trinidad like Brazil is very nationalistic and proud of their country and its national symbols and flag colours. Trinidad is also a soccer crazy nation but not to the extreme as Brazil. There is a strong American influence in the way business is conducted in Trinidad which is very much alike with the way meetings and other business dealings are conducted in Guyana; however it is somewhat different in Brazil. Brazil is Portuguese speaking with a far larger population who are predominantly Roman Catholic, however just like Trinidad there is an annual Carnival and a strong soccer and beach culture since Brazil has some of the most attractive beaches on South America’s Eastern Atlantic coastline and year round sunny weather. There are more cultural issues to be considered by DGM in looking to expand to Brazil than Trinidad (CIA World fact book 2012, US Commercial Service-US Department of Commerce 2012). Brazilians do not like to discuss business during lunch whereas that would be ok in Trinidad, coffee drinking is a ritual in Brazil whereas having a semi formal meeting over beers or whiskey is normal in Trinidad. There are a few hand signals acceptable in Guyana and Trinidad like the â€Å"OK† that would be considered insulting in Brazil (Communicaid Group Ltd 2012). It would therefore be a bit more challenging from a cultural perspective for DGM to do business in Brazil as compared to Trinidad. Both countries have a well developed tourism industry with visitors from the US and Europe looking for differentiated products with unique designs, fabrics and colour. Although both countries presently have female presidents, males dominate business as such initial business meetings should be male led, but with DGM trading in the female apparel industry including a female during negotiations would be wise. Entry Strategy: Having made a decision to expand to another country the management would need to consider all the risks and decide on the timing, mode and scale of entry to be adopted (Hill, 2011). In entering a foreign market there are six modes of entry that a firm can consider each with advantages and disadvantages ranging from Exporting, Turnkey contracts,Licensing,Joint Ventures to Wholly Owned Subsidiary. (Hill 2011,p. 32) Brazil presents a more challenging environment both politically, economically and culturally but DGM should not rule out expansion into the Brazilian marketplace since the sheer size of its population and proximity to Guyana offers immense potential, however, at this time DGM should look at exporting finished products by finding a wholesale distributor with a wide network of resellers to export beachwear to and also seek to market team uniforms directly to soccer teams especially in the lower divisions and have a local representative do meetings and collect s izes and measurements etc. ith delivery being done through this intermediary but with payments being remitted by bank transfers directly to DGM. By going the export route to Brazil import tariffs would be an additional cost as opposed to having a factory in the Manaus free trade zone, as such DGM should gauge the acceptance of its offerings and then look to develop strategic alliances at the manufacturing level later on if market conditions indicate the potential for higher profitability. DGM should be prudent in its business arrangements and look to secure transactions using letters of credit until levels of trust are established. In Trinidad DGM should look to develop a joint venture with a suitable partner who has excess warehousing space suitable for establishing a garment factory thereby reducing the level of capital investment required, register its brands in Trinidad, establish a small scale factory and produce both beachwear and soccer and other sport uniforms in Trinidad and market both to the local Trinidad market and export to the distributors in Brazil and further afield. Strategic alliances would also be needed to market products across Trinidad as such a partner with appropriate channels already in place would be useful at the entry phase. A strategic alliance with a business in an unrelated industry that has excess building space would be preferred to one that is in the same industry with spare labour and machine capacity due to the risk of having that partner appropriating designs and customers. Timing of these two ventures is important, however with the slow pace at which negotiations and business dealings flow in Brazil it may be prudent to start interim talks with potential distributors at the same time as getting the joint venture arrangement and factory setup in Trinidad. Products would be differentiated in both markets according to designs and colors, more revealing beachwear is acceptable in Brazil and labeling would have to be in Portuguese as such a multi-domestic approach would be necessary with products being made specifically for each of the two markets with a slight overlap. This strategy should not be too costly given that the slight differences between products do not require different skills and machines and the designs for the Brazilian market would require less material but have the same selling price. Conclusion: The beach and athletic wear segment of the apparel market is already established in both countries, as such there is no first mover advantage to be gained, however DGM is confident that it can secure a niche by supplying an overall better quality product (stitchwork,design,fabric) at a far lower price. Brazil which has the largest potential market has relatively more political economy and cultural barriers which increase the levels of risk and possibility for failure so DGM should be cautious when expanding into this market. Trinidad on the other hand has much more political economy and cultural similarities with Guyana and this would allow for easier entry, allowing DGM to be more aggressive, which could end up solving the production capacity problems for DGM to meet the anticipated new demand when the export channels into Brazil open up which would in turn satisfy the present need for a wider market base. If both of these expansions come to fruition DGM can expect growth in demand and profitability over the long term with economic benefits accruing to each of the three countries. Bibliography: CIA World fact book, Trinidad 2012, viewed 1 October 2012, https://www. cia. gov/library/publications/the-world-factbook/geos/td. html CIA World fact book, Brazil 2012, viewed 1 October 2012, Communicaid Group Ltd. 2012, Doing Business in Brazil- Brazilian Social and Business Culture UK, London, viewed 30 September 2012 http://www. communicaid. com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20Brazil. pdf. Devaraja, Dr. T. S 2011, Indian Textile and Garment Industry-An Overview, University of Mysore, viewed 30 September 2012 http://sibresearch. rg/uploads/2/7/9/9/2799227/working_paper_-_dr_devaraja. pdf Goinvest 2012, Denmor Garment Manufacturers: Competing in the Global Garment Industry, viewed 29 September 2012 http://www. goinvest. gov. gy/manufacturing. html Hill, CWL 2010, Global Business Today, 7th edn, McGraw Hill, Boston US Commercial Service-US Department of Commerce 2012, Doing Business In Trinidad and Tobago: A Country Commercial Guide for U. S. Companies, viewed 1 October 2012, http://trinidad. usembassy. gov/uploads/images/bLR3mH7MwdrEvCke0jB6Tw/CCG2006. pdf End of Assignment. How to cite Globalization of Enterprise, Essay examples

Case Study Healthy Hospital Staff

Question: Discuss about theCase Study for Healthy Hospital Staff. Answer: Introduction The situation has been based on how the Healthy Hospital staff was having problems related to the slow payments to their account. With the old system software, there were certain degradations and the customisations. As per the regulatory changes and the market factors with the macroeconomic conditions, there is a fall in the annual profits which has been declining from $3M in 2005 to $1M in 2010. With this, there have been vendors who complained about the slowing down of the payments. Hence, a permanent account department person was hired for a full-time. But with this, there were some suspicious large cash disbursements which were entirely uncovered by him. Hence, a proper information security needs to be installed in the systems of the hospital so that there have been no problems with the security and the virus. (Struther et al., 2015). The technology and the management control will be able to handle the employees to illustrate the professional guidance and other principle effects. Organisation Dealing Strategy with the Issues As per the analysis of the case study, it is found that there have been certain internal controls and the red flags of the fraud, detected in the information system. Considering about how Downs was interviewing Harris for becoming the assistant employee to handle the finance of the hospital. Initially, there were issues as Harris was only hired for the temporary time and so his identification and the background was not investigated. But with time, it was found that Harris has been involved in the illegal activity as his family members had a suspicious history in the hospital. (Mselle et al., 2015). Hence, a red flag came into the introduction for the implementation of the documented plan with the protection of the consumers from identification of theft. There was a discussion of nepotism issue in the financial account procedures that were directly related to the accounts payable department. With this, when the vendor was identified, there was assurance by the account payable manager for the updating of all the necessary data to make sure that there is a timely and accurate proceeding. This will help in reviewing the data file for the accuracy and the completeness. Harris was nowhere asked the questions as he was able to present his philanthropic work to the HH. (MSellet et al., 2015). The strengthening involves the changing of the attitude of the employees. The sole responsibility is to ferret the wrong doings with the breaking of the rules, personal and the professional procedures. The strengthening of the defining, clarifying and holding ownership roles and responsibilities. (Koru et al., 2016). HH needs to focus on the policies, processes and procedures view with the process that will be holding the encompassing from the different business units. (Bergstrom et al., 2015). Communication helps in the establishment of the enhanced enterprise-wide. The focus has been on the process and procedures to understand the roles where the incident occurs. Downs is mainly responsible for all the fraud that has occurred in HH. He has not been able to take a proper interview and check on his background even after keeping him as a permanent employee. Also, Smith ignored Walter acquisition of the nepotism issue in the accounts payable department. Hence, he will be considered to be the major reason of fraud in the company. (McBrider et al., 2015). An extreme ignorance could be noticed when there were certain issues related to the job which was processing under the Oracle system. Also, Tracy should be responsible for her work for processing the data to ensure the timely and the accurate processing. This has also led to the inactivity of the vendors and the problems in the complete data integrity issues. Harris has surely been a part of the fraud where there has been six cash disbursement of the authorisation forms which contained the invoice data of the vendor with the amount. Hence, the amount inputted data contain the accounting forms with the payable accounting module. With this, there was a fraud that was involved in the printing and the mailing of the physical checks to the vendors of HH. (Ojha et al., 2016). The person who allowed Harris to access the safe with some pre-signed checks is also to be blamed for the fraud. The Internal Audit Manager should be focusing on the gathering of the information which is needed mainly to identify the risks of the misstatement. The assessing of the risks is taken into account for the evaluation of the programs of the entity and the controls. The auditing committee will be able to process the utilization to identify properly, document and revaluate. With the red flag in the information system, it is possible to focus on taking appropriate ac tions with the close patterns and control operations. (Montle et al., 2015). The fraud risks could be structures through possibly identifying the schemes and then identifying the gaps which are related to this. There is a need to focus on the risks fraud assessing which will help in finding all the undetected frauds which are likely for the growth from the smaller beginning into something impactful. (McBride et al., 2015). The internal audit also contributes to the helping management with the proper understanding to ensure the preventive and the front line detective control. A code of conduct can be applied for the communication with a properly defined pattern where the training will increase the understanding of the employees along with the obligations. The decision is through the respecting the principles of the separate functions along with allowing the employees to execute the entire cycle of the transactions with properly examining the staff based on the qualifications. The identification and the authentication control of the mechanisms with the proper setup of the system will help in defining the procedures. The control mechanism will support the individual accountability and the auditing trials. (Menon, 2015). The description is based on verifying the system provided default administrative passwords. The Logical Access Controls are based on authorizing and then restricting the user activities will depend on describing the hardware and the software features. This will help in describing the control to detect all the unauthorized attempt of the transactions with the completely focus on the user activities. For the auditing, there is a need for the public access controls for the accessing of the system. This will help in controlling the problems and fraud done by Harris by changing the invoice data. (Chen, 2016). The system level or application level administrator includes the auditing trails with the applications software problem. The analysis of th e tools is based on the auditing reduction with attack signature and variance techniques. With the change in technology, there is a need to focus on the client business environment and whether the vendors are happy with their job. Also, there is a need to focus on the information technology that has been implemented with the proper software system. The services to the hospital need to include the assurance and compliance with the revenue management. The health hospital needs to focus on the revenue management with the proper development of the system where there is no chance of the fraud in accounts. In the present time, there is such software which will help in setting the exact data as per the requirement, and it cannot be changed automatically. The accessing of the pre-signed checks should also be replaced by the computerized checks or analysis, which will clearly determine the transactions. The President and the Vice President with the account payable manager need to have a proper communication about the operating procedures when it is specially related to the finance. (Chen, 2016). Conclusion HH also needs to focus on the hiring of the temporary and the permanent employees. In the present time, it is always recommendable to hire a person only after a proper checking of the background history he has. Considering the case study, if HH would have analysed Harris background, then it is sure that he would not have been appointed even as a temporary employee. Reference Struthers, C.B., Akingbule, A.S. and Obi, C.F., 2015. Illini Community Hospital Community Health Needs Assessment 2015. Mselle, L.T. and Kohi, T.W., 2015. Perceived health system causes of obstetric fistula from accounts of affected women in rural Tanzania: a qualitative study.African journal of reproductive health,19(1), pp.124-132. Bergstrm, A., Skeen, S., Duc, D.M., Blandon, E.Z., Estabrooks, C., Gustavsson, P., Hoa, D.T.P., Kllestl, C., Mlqvist, M., Nga, N.T. and Persson, L.., 2015. Health system context and implementation of evidence-based practicesdevelopment and validation of the Context Assessment for Community Health (COACH) tool for low-and middle-income settings.Implementation Science,10(1), p.1. Menon, N.M., 2015. IT-Related Spillovers between Insurers and Healthcare Providers: Implications for Medical Fraud Detection, Hospital Quality, and Subsequent IT Investments.Hospital Quality, and Subsequent IT Investments (November 16, 2015). Chen, E.T., 2016. Examining the Influence of Information Technology on Modern Health Care.Effective Methods for Modern Healthcare Service Quality and Evaluation, p.110. Gelinas, U., S. Sutton, and J. Hunton, 2015. Accounting Information Systems, Sixth Edition, South-Western College Publishing, Cincinnati, OH. McBride, S., Sobel, A. and Caton-Peters, H., 2015. Privacy and Security in a Ubiquitous Health Information Technology World.Nursing Informatics for the Advanced Practice Nurse: Patient Safety, Quality, Outcomes, and Interprofessionalism. Montle, G., Levy, R. and Rowland, M., 2015. Our Patent System and Health Care Information Technology: Valuable Incentive or Impediment to Innovation?. Ojha, M. and Mathur, K., 2016, March. Proposed application of big data analytics in healthcare at Maharaja Yeshwantrao Hospital. In2016 3rd MEC International Conference on Big Data and Smart City (ICBDSC)(pp. 1-7). IEEE. McBride, S., Sobel, A. and Caton-Peters, H., 2015. Privacy and Security in a Ubiquitous Health Information Technology World.Nursing Informatics for the Advanced Practice Nurse: Patient Safety, Quality, Outcomes, and Interprofessionalism. Koru, G., Alhuwail, D., Topaz, M., Norcio, A.F. and Mills, M.E., 2016. Investigating the challenges and opportunities in home care to facilitate effective information technology adoption.Journal of the American Medical Directors Association,17(1), pp.53-58. Mselle, L.T. and Kohi, T.W., 2015. Perceived health system causes of obstetric fistula from accounts of affected women in rural Tanzania: a qualitative study.African journal of reproductive health,19(1), pp.124-132.