Current trends in the market from risk management prospective Essay

Current trends in the market from risk management prospective - Essay Example The Most Important Trends in Global Financial Crisis That Have Affected Financial Markets, Institutions and the Economy from 2007 To 2009 Important lessons that can be learnt from the recent global economic crisis are purely based on risk prepared and management practices capable of averting any financial challenge. A general reluctance to handle risk with caution can be translated by all facts to have been the cause of economic downturns observed from 2007. According to Hubbard (p6)1 reluctance to employ the best risk assessment techniques prevents the management from realizing how potent and hazardous a risk would be. The author therefore attributes failure to mitigate risk to wrong technique for measuring the risk and its gravity. To illustrate this position, the author finds fault with the manner in which top risk management firms and federal agencies conducted their risk assessment resulting in wrong approach to mitigate the risks. A cascade of ill-informed interventions could o nly worsen the case for the economic crisis that hit the financial markets for the better part of 2008 through 2009 and whose impact is still being felt to date. It is clear that the most important trend in the modern economic world entails risk assessment, which must be done right at all cases to avoid miscalculations resulting into multiplier disasters. House ownership was at the centre of interest for the financial markets, having been established in the USA to such low risk levels that the major global financial players willingly ventured in it. As Fraser and Simkins (p272)2 observe, a high demand for housing attracted high prices and supply was fast catching up to share in the benefits. The Federal Reserve was allowing the lowest interest rates for the first time in the history of the market. The homeowner society of Japan which has been prone to stagnation for long is being affected by economic crisis resulting from globalization. In most of the developed countries where capit al market is deregulated by neo-liberal policies, their financial institutions are facing great effects from the global financial markets. For instance for these countries to maintain their market for their goods they have to maintain strong relations with the particular countries which provide market for their goods. This may lead to a financial crisis in that the developing countries may end up accruing debts which may affect the market. Global financial crisis through the economic turns of the overseas countries have damaged the export-based macroeconomics of Japan ACCORDING TO Forrest and Yip (p199). As the global financial crisis around the world has affected the economy and thus has brought about significant drops in stock markets. The downfall of the United States sub-marine mortgage market followed by the reversed housing boom of the industrialized countries economy has had a diverse effect around the globe. The sub-marine crisis resulted from financial assets such as securi ty assets which involved banks transferring their loans into purchasable assets. This results to banks off-loading loans which are risky onto other financial institutions. The crisis have also been on the increase because of the fact that banks are engaging in huge risks which in turn increase their exposure to financial problems. Collapsing banks suck funds from the economy in their

The Use Of Cctv Criminology Essay

The Use Of Cctv Criminology Essay The use of CCTV (Closed Circuit Television Technology) in public place has aroused the concern of public against the privacy issue and stimulated intense debate across the globe. This research aim to discuss the societys ethical stance on the use of CCTV in public place through an investigative and comparative analysis. The report will provide a variety of discussion based on objective analysis of available publications throughout the world. It addresses the main debates surrounding effectiveness and utility and further evaluates the protection of individual rights. Introduction CCTV or Closed Circuit Television is a video surveillance technology. It is described by several sociologist and criminologist like Clive Norris and Gary Armstrong (1999) as a form of power that views and controls the activities and actions of people. CCTV can be set up and used by public authorities in public or private areas in aiding crime prevention and crime prosecution. It is a multi-purpose kind of technology, where previous years it was supposed to be used to manage risk cases of traffic jams, fire and crime. CCTV sometimes helps and also creates some problems to the general public. In some ways it limits the freedom of other people. Meaning that you know people are watching you and there are some things which you cant do when people are watching. Like example, I have and itch on my butt and I cant scratch it in public since CCTVs are watching. CCTV when put in public places they record and display whatever that happens in that area. People therefore have lost their right to privacy once they leave their homes and into public places. Freedom is the right for everyone. People have the right to do and live their lives in peace without having others watching them. Literature Review Usage of CCTV The lack of clear outline and a standard on the employ of CCTV and the targeted population is a major setback of CCTV technology. Clarifications on the uses of CCTV have been made by Muller and Boos (2004). They found that CCTV is generally used for registering evidence, conduct control, flow control, access control and the planning of deployment based on their study. Targeted Individuals or groups of CCTV Norris and Armstrong (1999) created eight categories of suspicion targeted by video surveillance operators in terms of selection of targeted individuals or groups. Categories of suspicion that included are protection, which infers monitoring a vulnerable person (single women, children); category, which is a suspicion based on personal characteristics; location, that is based on persons location; behavior suspicion, which is based on recognizing abnormal behavior; personalized, which suggests prior knowledge of the person; transmitted, that refers to a suspicion based on an outside source; routine, which is based on a set surveillance path; and voyeuristic or for entertainment purposes. CCTV as effective safety tool for crime solving/prevention CCTV monitors individuals and crowds, provide warning signs of potential criminal offences, respond to threats and thus notifies the operator(s) of harmful actions and behavior, during and after the occurrence of an event (McCahill . Norris 2002a). For instance, in Barcelona, video surveillance cameras allowed authorities to find a young Spanish man who aggressively attacked a Latino American man in the metro (Cambon 2007). Such events have spread awareness on the effectiveness of the system as safety tool. This CCTV technology can conduct and inform both helpers and others on the situation in case there is an incident like fire. Besides, CCTV technology is deemed as a successful and efficient tool for reducing crime rates within targeted areas for certain social science researchers, government agencies, and institutions. There are many studies devoted to proving this stance and asserting the claim that CCTV systems are useful. These studies proposed that CCTV system have reactive an d preventative measures, increase the efficiency of police force, revive business in desolate or poor areas, build social cohesion, protect the private environment of citizens and ensure feelings of safety. Opponents of CCTV technology claim there is too much focus on the ability of CCTV to reduce crime. They said that such focus produces misleading studies and draws away from a proper assessment and evaluation of the impact of CCTV on solving crime. Nacro, the UK-Based organization conducted a review of CCTV and found that property crimes reduced in areas covered by video surveillance, especially in car parks, for example car theft. However, the same Nacro review revealed that public video surveillance had no impact on personal crimes such as assault or drunkenness. Therefore, some people critic the use of CCTV is a quick-fix solution and fails to tackle the real problems. CCTV as effective safety tool for building feelings of security Ann RudinowSÃ ¦tnan et al. (2004) claim that CCTV is an effective tool to reducing crime and establishes relations in a unsafe area. The use of CCTV increase made citizen feel safer and encourages broad participation and interaction in public spaces, which is effective in improving a communitys image and attract more investment. However, there are several research disagree with the above statement. They claim that CCTV does not reduce the feelings of unsafe or insecurity, therefore it is ineffective to use as a tools to preventing or solving crime. Jason Ditton (2000) claim that CCTV does not make people feel secure but create a false fear. Futhermore, the camera targets the innocent citizen rather than the criminal, imposing a constant fear in public spaces. Several research result have shown that citizen feel discomfort and fear in the presence of video surveillance was significantly higher among women, who are commonly labeled as the most vulnerable group to criminal events. CCTV as effective management tool CCTV video surveillance technology have been adopted by several countries as a management tools to administrate and monitor transport system, rationalize the maintenance of building infrastructure, fire prevention and for management of social spaces. Several studies demonstrate that CCTV are an effective management tools since it is less expensive than police officers and more efficient in detecting or preventing criminal offences. Don Babwin (2007) asserts that unlike security personnel, cameras are not subject to fatigue or loss of concentration and therefore provide uninterrupted and consistent effort. Therefore, the financial burden of the initial expense of purchasing and installing the system is thwarted by its long-term efficiency over employing additional police officers who may be less valuable. Ethical Challenges According to the 2006 Privacy International Report, governments policy initiatives on security aredestabilizing core elements of personal privacy there must be an understanding on how changes in privacy laws, technologies implemented affect legal and constitutional protections, individual rights, freedoms and autonomy, democratic institutions. The use of CCTV technology has stirred ethical concerns. These concerns refer to the lack of privacy protection, the repression of individual liberties for the greater good and mounting fears of insecurity. Innocent people will feel that video surveillance cameras in public places would invade peoples privacy at every turn and it would make going out in public feel like being in a bank. CCTV helps but at the cost of infringing on the rights of low-abiding citizens, their action in public space is being recorded. Therefore, they have stimulated the rise of rules and regulations which aim to protect individuals rights and freedoms as well as regu late the use and output of information captured by such systems. Politicians who abide by CCTV as an effective and successful method in the field of crime prevention, suggest that the presence of CCTV systems in public spaces act as a deterrence to criminals or potential offenders. Therefore, innocent individuals should not be bothered by its presence. The cameras target offenders and thus offer no harm to the general public. This mentality is widely used to convince the public that CCTV systems are used for a specific reason and do not impinge on issues of privacy or civil liberties. This mentality in fact poses an ethical concern, which assumes that in general individuals are innocent and must give up some liberties for the greater good. Conclusion There exists a variety of frameworks, local, national and international, which aim to protect and secure privacy and safety rights of individuals in society. Besides, there is also a clear lack of codes of practice and a fear that commercial interests override individuals freedoms and rights. Therefore, government officials and policy makers use it as a reference guide for assessing the main issues and addressing effective solutions.

St. Anselns Ontological Argument For The Experience Of God :: essays research papers

St. Anselm’s ontological argument for the experience of God. God’s existence may vary from philosopher to philosopher, but according to the late St. Anselm, Archbishop of Canterbury there was absolutely no doubt that God’s presence is certain, and yet the philosopher desires the understanding of faith. As stated; if god cannot be thought to exist, then whomever which may be conceived, only a fool would believe that he God does not exist. Only a fool says from his or her heart there is no God, was the largest idea discussed in the presentation quoted by Anselm. It is one thing for an object to be in the understanding, and another to understand that objects exist, he both, has it in has understanding and he understands that it exists because he has made it. There is not a doubt that there exists a being, than which nothing greater can be conceived. And it exists both in the understanding and in reality, then, so truly than a being which nothing greater can be conceived to exist, our God? If a mind could conceive of a being better then thee, the creature would rise above the Creator; and this is absurd. God can be conceived to not exist; but in the later, not at all. For example, no one who understands what God is can conceive that God does exist; God is that than which a greater cannot be conceived. The nonexistence of that than which a greater cannot be conceived is inconceivable. Gaunilo’s argumentative criticism claims that in the dual existence, with understanding and in reality, for this reason it must exist. For if it does not exist, any lord who really exists will be more

Component of Financial Statement

16th January 2012 34 Mansion road Granchestor meadows Oxford Ox1 6ds Dear Mr Han , I am writing this letter to explain to you the component of your financial statement, this includes the Balance sheet at 31st of March 2011 and the profit and loss account for the year ended in 31st of March 2011 , hope you have a b etter understanding after reading my letter. The Profit and Loss account shows whether your business has made profit or loss , over your financial year.This also shows how much sales you’ve made and how much loss, it helps you make decisions in the future and improve on your business. You may also view whether you made Profit or loss weekly, monthly but usually it is shows yearly. Revenue Expenditure is the money you spend on items on a day to day basis. This may vary depending on the Business type. Some examples of what may be included is, Premises costs, staff costs, purchase stock. These are the Revenue expenditure from your account.Rents and Rates – ? 6,00 0 Wages and salaries – ? 3,920 Advertising – ? 1,500 Telephone and postage – ? 190 Revenue income is the money coming into the business from performing its daily tasks; these also vary on the type of business owned. Some of the examples of revenue income within a business are sales, commission received and also rent received. The revenue incomes from your account are Sales at a cost of ? 63,850. Balance sheet this is a businesses’ net worth at a particular point.Balance sheet also shows the value of a business as it states what the business owns also known as assets and also known as liabilities. Capital Income is the money that is invested into the business by its owners and all other investors. The money is usually to set up the business, have equipment. It is usually equipment that will stay and be used in the business for a longer period of time an example may be Premises. The capital income of your account is a capital of ? 16,000.Capital expenditure – These are used to buy capital assets that stay in the business for a long period of time some examples may be , Buildings, Machinery ,Office , Furniture and fittings. Here is the capital expenditure from your Accounts . Equipment ? 13,175 Motor Vehicles ? 2,400 The profit and loss account calculates the amount of profit that is left after the cost of producing goods and service it is then deducted from the amount of sales revenue, this is calculated by sales revenue take away costs of goods that have been sold.Cost of sales is the value of stock that is used to generate the sales, the calculation for costs of goods sold is Opening stock plus purchases take away closing stock. Net profit is the money left after all the other expenses have been deducted from the gross profit and also any other income that has been added on, this is calculated by adding the Gross Profit to expenses. Fixed assets are the items that a business owns and that will stay for a long period of time , you may see this on a business balance sheet that will include Buildings, Machinery ,Office , Furniture and fittings.These assets lose their value over a period of time, meaning that after every year the value in the balance sheet is reduced to give affair value of the asset. The fixed assets from your account are Equipment and also Motor Vehicles. Current assets ,are the items of value that are owned by a business whose value is likely to rise and fall irregularly in number or amount on a regular basis ,this also occurs every time the business makes a transaction. Current assets include Stock – ? 7,400 Debtors – ? 150 Cash in the bank – ? 560 Cash in hand – ? 250Current liabilities –Is what is owned by a business and it should be paid back in less than one year of time the examples are creditors and also overdrafts. The current liabilities from your account are Creditors at ? -1610. Net assets – This shows the total value of the entire ass ets take away the value of the liabilities. Net assets are calculated by Current assets plus fixed assets take away (current liabilities long term liabilities) the total of your net assets are ? 12,325. Capital employed –This represents the capital investment necessary for a business to function.Consequently, it is not a measure of assets, but of capital investment: stock or shares and long-term liabilities. It’s the initial capital invested in the business calculated by profit and opening capital being added minus drawings. Capital employed and net assets always have the same /equal answers. After the explanation of showing the purpose of Profit and loss account, explaining and giving calculations and examples I hope it helped you understand, if any questions please contact Yours sincerely.

Hart & Dworkin Essay

H. L. A. Hart’s concept of legal positivism was heavily influenced by Austin. However, he breaks with Austinian positivism at three vital junctures. First, he believed that the sovereign law giver is defined by his office rather than being a person who has secured the habit of obedience. Second authority is vested in rule of recognition instead of through the threat sanctions. Finally, Hart believed that laws expand liberty rather than limit it. In a nutshell Hart’s Philosophy of Law builds upon the Command Law Theory established by Austin, corrects its errors and establishes its own doctrines. In his essay â€Å"Sovereign and Subject†, Hart proposed that the habit of obedience does not account for the relationship between subject and sovereign. This inclination to, or habit of obedience, propounded by Austin, asserts that there exists a relationship between a subject and his sovereign. Where this relationship exists we speak of a society. However, since the habit of obedience is a habit backed by threats, it differs little from the idea a gunman coercing a person to give him his purse. Hart opines that a law’s validity does not depend on the existence of social rules. Instead laws exist to promote social order. Hart contributes his conceptual analysis theory to jurisprudence of legal formalism. He postulates that jurisprudence aims to give analysis of the uses to which the concept of law is put in various social practices. Given that all rules have a penumbra of uncertainty, a judge must often choose between alternatives. Simply put, Hart takes legal thought beyond the simplistic Command Theory. To him a law can be valid despite its moral invalidity and sans any coercion backed by threats. Such views on the law can be seen today in the USA Patriot Act. This is morally reprehensible because of the many provisions that potentially violate citizens’ rights. However it is still a valid law promoting the security of American society at large. As a legal naturalist Ronald Dworkin rejects positivism. His chief objection is that moral principles can be binding by virtue of the fact that they express an appropriate dimension of justice and fairness. He espouses the belief that in interpreting the meaning of valid legal rules, it is often necessary to consult moral principles. Curiously, a posthumous edition of Hart’s seminal A Concept of Law gives space to Hart’s response to Dworkin’s criticism of Legal Positivism. In contrast to Hart, Dworkin believes that law is not simply a matter of rules. Moral principles are law even if they are not identified under the rule of recognition. Moral principles can also be said to be law because they have dimensions of justice. As opposed to Hart, Dworkin’s theory on jurisprudence is that judges appeal to binding legal standards that are more discretionary than hard and fast rules. An example is the gravamen of guilt beyond reasonable doubt. Instead of simply relying on their discretion, a judge uses jurisprudence to form a body of as yet unwritten legal standards to back up their decisions. To summarize, Dworkin champions the cause of Legal Naturalism: that laws must appeal to morality to have legal validity. Many of today’s penal laws can be said to espouse Legal Naturalism.