Risks of noncompliance in corporate governance

Risks of noncompliance in corporate governance In Management, the aspect of compliance is one of the most important element in most businesses whether service or product. It involves the transformation of inputs of production and operation into outputs that, when distributed, have the needs satisfying abilities to the consumers. The concept of compliance refers to a state of being in accordance to certain rules and regulations. The process compliance involves the application of independent factors but mainly focuses on the overall corporate function of the organization. In corporate world we tend to associate compliance with leadership and decision making. The concept of Leadership is referred to as the progression of social influence which an individual can sign up in aid and support of others in the accomplishment of a common task. Leadership as a tool of effective management and compliance remains as one of the most pertinent aspects of the organizational context (Bicheno Elliot, 1997). When individuals are put in leadership positions, they are effectively authorized to comply with certain rules and regulations on of other people. They are expected to make wise decisions that serve the interests of the people that elected them, their organizations, state or country. Since compliance involves making tough decisions, its only leaders in involved in corporate governance who are in position to pass authority and influence other people. Good compliance technique is an indispensable skill for success and successful leadership. In the business world, many organizations especially those involved in financial services have compliance workforce whose function entails the idea of making sure the company comply with the laid down rules and regulations (Sparrow, 2000). Relationship of the cost of compliance against the degree of risk of noncompliance Corporate governance refers to a system by in which corporates or organizations are managed. It entails building of relationships between the management, committees of the Board, and employees. Effective corporate governance structure maximizes value and proficiency. Since compliance involves certification to do a particular task, it enables organizations to fulfill its goals and objectives for the reason that its functions are not delayed down by risks of non compliance. Organizations should concentrate on issues relating to compliance to ensure they fulfill their functions. There are numerous problems associated with failing to comply with certain regulations. Technically, the extent of risks found in organizations differs from one compliance element to another.  Ã‚   Regardless of issues involved, the cost of compliance is much smaller than the risks emerging out from noncompliance. In observing business ethics, the funds involved in compliance assist states and governments to c reate jobs and improve social status of its citizens. By enlarge; compliance is beneficial in that it makes corporate bodies to fulfill their social obligations to members of the public. Some of these costs also involve aspects of direct expenditures made by organizations to comply with safety issues, when complied; these regulations ensure consumers obtain high quality goods and services. Though high in some cases, the costs of compliance ensure fair trade and allow productions of goods and services that meet consumer requirements, needs and wants (Wong, 2001). The major risks of non compliance are the ability of the government to sue the organizations for compliance violations. This in the part of the organizations mostly its more expensive than the initial cost of complying with the required rules and regulations. For any organization to function well and achieve its goals and objectives, it must comply with all laid down rules and regulations to avoid risks of loss of clients resulting from closures, to avoid stiff penalties from regulatory bodies which are at times more costly that the cost of compliance and finally to avoid losing consumer confidence. To be effective in compliance matters, organization should do Self-Assessments of their functions and identify their risks. (Bicheno Elliot, 1997). Organization that uses committees within their corporate governance structure Organizations that implement the use of committees in their corporate governance structures have shown to be very effective, efficient and successful, and have shown potential to operate with utmost accountability and independence. this Committees perform duties on behalf of the organization management and shareholders and with efficient delegation of duties , they build stronger capital rights ,increase production and sales and increase the organization profitability ensuring they comply with necessary corporate rules and regulations . One of the most well recognized organization that uses committees with their corporate governance structure is PepsiCo. This company is found in beverage industry and its committee charters are very definitive and its purpose well structured. The organization consists of internal and external audit committees which guide the organization management in regulating quality and efficiency, financial position and organization compliance to regulatory bodys requirement and wants. Use of committees by McBride to mitigate noncompliance issues Like PepsiCo, McBride financial company should use the committees to mitigate the risks associated with noncompliance. The concept of compliance is a very significant issue for any organization. In the case of McBride Financial Services, the knowledge and execution of appropriate rules and regulations are ominous to the organization potential growth and development. Recommendations involving Self-Assessments and identification of risks should be used to mitigate issues of noncompliance in the company. McBride financial company should conduct self-assessment of their program in time before the time the regulators come knocking on their doors. The company should use internal committees to develop a risk-based compliance approach that include identification of risks of non-compliance and the factors required to ensure compliance. The committee analyzes the organization risks and assists the company come to a decision of which risks to focus on. When established, committees serve the fun ction of determining negative consequences of noncompliance. Committees perform quantitative analysis of the company performance and gives guidelines of what to do in order to achieve the companys goals and objectives (Causey, 2008). Conclusion Its a general business objective for most successful organizations in the world today to strategies on ways of improving their productivity, quality of products and services so as to satisfy the needs of their consumers as well as retaining their hare of the market. The success of the organization in the long-term requires that the organization considers the dynamism of management trends in their operations and comply with necessary rules and regulations. In conclusion we can say that concepts of compliance in corporate governance and s Management is one of the most important aspects of most businesses whether service or product. Compliance promotes creation of products that satisfies basic wants of customers and regulatory bodies. Happy customers promote productivity of a company in that the management produces more to be at level with their requirements. More production leads to increased yields and high profits.

Bladerunner: Humanity Of Deckard & Roy Batty Essays -- essays research

Roy Batty and Deckard are both able to show us what it means to be human. To what extent do you agree? Through Blade Runner, we see an epic quest filled with meaning and symbolism applicable to the human condition. Replicants are basically human beings, except for the fact that they lack a history. As a consequence of this, perhaps, they also lack proper emotional faculties especially empathy. Empathy is the ability to place oneself in the position of another living being and understand that person’s feelings. Blade runner promotes that empathy is the defining characteristics for humanity. The replicants, designed not to show any emotion, develop spiritually and emotionally throughout the film. The characters in the movie, even the ones that were not human, had many humanistic and believable qualities. Many of them were able to feel love as well as hate. Although Deckard is supposedly human he at times shows less emotion than Roy. He seems heartless and uncompassionate making himself look very unhuman. We see that Deckard is possibly not "human" as well, but a replicant. He shows no compassion when he tells Rachel of her being a replicant with implants. In tears, Rachel sneaks out of Deckard’s apartment and into the streets. The only time in which Deckard really shows emotion is accomplished when Roy, forging Deckard through the fires of a harrowing battle, looks terrified knowing that he is going to die. Through this, Roy tries to communicate his life experi...

The advantages and disadvantages of using psychodynamic concepts of repression and resistance

The term â€Å"psychodynamic† suggests any explanation that emphasises the process of change or transformation and development, i. e. , the dynamics (changeability) of behaviour or the forces that drive an individual to behave the way he or she does. â€Å"Dynamics† are the things that drive us or a machine to behave in particular ways. (Eyesenck & Flanagan, 2000. p 172)i. Sigmund Freud's psychoanalytical theory is probably the best-known example of the psychodynamic model. His view was that psychological disorders did not have a physical origin but instead arose out of unresolved, unconscious conflicts, which formed essentially in early childhood. All psychodynamic concepts arose from Freud's theory of personality development in which he essentially argued that the mind is divided into three parts. First, there is the id, which consists of mainly unconscious sexual and aggressive, essentially selfish, instincts. The motivating force is the innate sexual drive found in every human i. e. the libido. Second, there is the ego, which is the rational and conscious part of the mind. Third, there is the superego or the conscience. These three parts of the mind are frequently at conflict with one another. Conflicts occur most often between the id and the superego, because the id wants instant gratification, where as the superego takes account of moral standards and decorum. Since, conflicts cause anxiety, the ego defends itself against anxiety by using several defence mechanisms to prevent traumatic thoughts and feelings reaching consciousness. One of the major defence mechanisms is repression, which forces memories of conflicts and traumas out of consciousness and into the unconscious mind. Other defence mechanisms may include resistance, displacement and projection. Resistance is also another term to represent the process whereby thoughts and memories that are in the unconscious mind are prevented from reaching the conscious mind. Also within psychoanalysis, the term is used to refer to the way in which the person being analysed, offers resistance to the interpretations offered by the analyst (Cardwell,1996,2000)ii. Displacement occurs when aggressive or other intense impulses are transferred away from a threatening person to someone or something non-threatening. Projection occurs when someone who possesses an undesirable characteristic or attitude, attributes it to other people. For example, someone who is very hostile may claim that other people are hostile to him or her (Eyesenck & Flanagan, 2000. p 173)iii. According to Freud, psychological disorders can arise when an individual has unresolved conflicts and traumas from childhood. Defence mechanisms, such as the before mentioned, may be used to reduce anxiety caused by such unresolved conflicts, however, all they do is hide the conflict rather than resolve it. This psychodynamic model proposed by Sigmund Freud was the first systematic model of mental illness/disorders that focused specifically on psychological factors as the cause of a mental disorder and on a psychological form of treatment. Before Freud, all explanations of mental illness were in terms of either biological (physical) causes or fantastic ideas such as possession by evil spirits. For his time, Freud's ideas must have been revolutionary but in this day and age, it is impossible to accept his concepts and theories without due criticism. Considering the concept of repression, one may find it hard to test the theory, and therefore hard to prove the validity of the concept of repressed memories. However there have been attempts to conduct experiments to demonstrate the phenomenon of repression. These typically involve creating anxiety to produce forgetting or repression. After that, the anxiety is removed to show that repressed information is still in long-term memory (referred to as â€Å"return of the repressed†). To their disadvantage, such experiments are ethically questionable-is it right to expose anyone to anxiety provoking situations or information in order to study the concept of repression? (Eyesenck & Flanagan, 2000. p 174)iv One of the main methods used by Freud earlier during treatment in order to gain deeper insight into the patient's subconscious was hypnosis. The very first disadvantage of this method is its unreliability. Not everyone can be hypnotised, and there is no way of determining who can or can't be. In addition, when under hypnosis, a person is extremely vulnerable and susceptible to influence. Memories can thus be unintentionally implanted or suggested by the therapist by use of descriptive details or leading questions. There are essentially three times when memory can be affected: when it is stored, while it is being stored and when it is retrieved, which basically covers all the time. Therefore, at any of these times something could be misunderstood, associated or implanted in our memories. Psychologists are not the only influences our memories may be affected by. Everyday memories like recollections of horror movies, comic books, nightmares, anything on TV etc. are very capable of becoming embedded in our memory and then muddled up with other memories. Memories of these things can come out in the hypnosis therapy and if they are in line with the therapists own interpretations, he or she will think it to be true and valid information. Remembering detailed accounts of events that never took place is known as the False Memory Syndrome (FMS). Thus, not only is it up to the reliability of the technique being used to resurrect a repressed memory but it is also depends on the mind of the patient to distinguish these other influences and recall only the true event. One would think why people would want to dredge up memories if they are not real. The reasons can be plentiful, it can simply be fraud, or as the FMS suggests, since the persons mind has been all jumbled up with the therapist's suggestions and other influences, he or she himself/herself believes the memory to be true. Ultimately, there is no easy answer or explanation to the theory of repression and retrieval yet. The implications for treatment under such a psychodynamic approach are that the primary goal of therapy is to enable patients to gain access to their repressed memories and conflicts, and to encourage them to face up to whatever emerges from their unconscious mind. Freud used the term â€Å"insight† to refer to the processes involved. He assumed that insight would permit the repressed memories to be integrated into the ego or conscious self, after which the patient would be better able to cope with life. Since, even though memories of the anxiety provoking conflict or trauma were repressed, they tended to surface in different forms of neurosis or psychological disorders. In the beginning, Freud used hypnosis as a means of accessing repressed memories (the famous case study of Anna O) but later felt that this was an unreliable method. The other two methods were dreams, as the â€Å"royal road† to the unconscious, and free association, a technique where the client is encouraged to say the first thing that comes to is or her mind. Eyesenck & Flanagan, 2000. p 174)v One of the first disadvantages of such a mode of treatment is that psychoanalysis depends heavily on the therapist's interpretation of what the patient says. How, for example, does the therapist know that a boy who has a fear of horses is actually afraid of his father and not simply scared that the horse might hurt him in some way? At his defence, Freud argued that the acid test, which was the patient's reaction to the therapist's proposed interpretation could be used here. If the client accepts the accuracy of the interpretation, then it is probably correct. On the other hand, if the patient rejects the therapist's interpretation of say a dream, that may simply be resistance by the patient's conscious mind to an unacceptable but entirely accurate interpretation made by the therapist. The problem with this is that therapist seems to win both ways because he or she either uses the patient's acceptance or denial of the reasonableness of an interpretation as corroborating evidence that the interpretation is accurate. Freud argued that we can regard psychoanalysis as similar to solving a jigsaw puzzle. It may be hard to decide whether a given interpretation is correct, or to decide where to place a particular piece of the puzzle. However, the interpretations of dozens of a patient's free associations and dreams should form a coherent picture, just as the pieces of jigsaw puzzle can only be arranged in one way. â€Å"(Eyesenck & Flanagan, 2000. p 174) Another disadvantage of treatment based on the psychodynamic approach, is that it is very time consuming, due to the concepts of resistance, i. e. , the patient's reluctance to face his or her past. As Freud said (1917,p. 289)vii: â€Å"The patient attempts to escape by every possible means. First he says nothing comes into his head, then that so much comes into his head that he can't grasp any of it†¦ At last he admits that he really cannot say anything, he is ashamed to†¦ So goes on, with untold variations. In all fairness, there is quite a bit of evidence to support the concepts of repression and resistance. But one seems to wonder if a person cannot recall a certain memory, was it ever really a memory? Did it ever really happen? Due to the breadth of recorded cases of repression, no one can deny its existence, all we can conclude is that until psychologists can drag our unconsciousness completely into the light, the reliability of retrieval of repressed memories will b e left in the dark.

How Data And Information Travel The Internet - 824 Words

Part One: 1.) Google: IP address 216.58.192.14 Geographic Location: Mountain View, California, U.S 2.) BBC: IP address: 212.58.244.20 Geographic Location: London, City of London, Great Britain 3.) Spotify IP address: 194.132.198.165 Geographic Location: Japan 4.) Sony IP address: 72.52.6.10 Geographic Location: Cambridge, Massachusetts, U.S 5.) Baidu IP address: 180.149.132.47 Geographic Location: Beijing, Beijing (22), China Part Two: 1.) Google: Number of stops: 9 2.) BBC: Number of stops: 8 3.) Spotify Number of stops: 10 4.) Sony Number of stops: 6 5.) Baidu Number of stops: 12 Part Three: Briefly describe how data and information travel the internet Typically, a user requests a website by entering it in their browser. From there,†¦show more content†¦It is like a phonebook with an ability to direct traffic to their proper place. Part Four: Explain the difference between circuit switching and packet switching Circuit switching was a method that was previously used with telephones. In this method, a connection between two people, for example, would always remain on standby until there was actual communication between those peoples phones. In that case, the connection that allowed communication between them would be actualized. Packet switching, on the other hand, is a method where packets are routed independently in order to ensure communication between different parties. There are no dedicated routes for two destinations, unlike the circuit switching method. Instead, these packets are shared and are used to create an unrestricted method of communication. What is caching, and why is it important with respect to routing internet traffic? Caching is a computer s ability to store information that will help facilitate future access to a website. For example, if a user visited Facebook in the morning and decides to do so again in the evening, the computer will remember how it initially got access to Facebook and use it the second time. If the computer knows how to access a site, then it would have no need of going through the whole process, thus reducing internet traffic. Part Five: I m writing about the cyberbullying case of Amanda Todd.