Risk Management Essay Example for Free

Hazard Management Essay The organization produces its power at the Niagara Falls and disseminates it to different Canadian territories and the United States. Established in 1906 as the Hydro-Electric Power Commission, the partnership was later renamed to Ontario Hydro in 1974. In 1998, the common government passed the â€Å"Energy Competition Act†. Ontario Hydro was rebuilt into two separate associations: a force age utility and a consolidated transmission/conveyance business to be called Hydro one. 2. Hydro One’s Strategy and dangers Hydro Ones technique has changed a great deal during the most recent years. Above all else, the organization thought they comprehended what was best for their clients. In the long run their center changed into a more client based system. With the adjustment in their concentration in tending to the necessities of their clients, consumer loyalty has, in certain zones, multiplied. Despite the fact that outcomes have been sure, issues for the power gracefully later on might diminish the fulfillment of the clients. In the corporate hazard profile slants, the power gracefully has gotten perhaps the greatest hazard with a rating of ‘virtually certain’. Just â€Å"government strategy uncertainty† and â€Å"getting the work done† have a similar degree of hazard. In the effect likelihood hazard guide of the firm, unmistakably issues with the power flexibly are very plausible and that the size is extensively huge. There’s consistently a danger of new blackouts, which can influence more than 100. 000 clients for over seven days in the most dire outcome imaginable. Most pessimistic scenario assumptions regarding the administration quality files anticipate that lone 25% of the general expected exhibition will be accomplished when the most ideal situation predicts 95%: it is as of now very sure that the 100% accomplishment will be incomprehensible. Another enormous issue in Hydro One’s procedure is cost productivity. Because of its maturing resources, the organization needed to concentrate on reducing expenses. This activity brought about Rating Agencies improving Hydros rating on its drawn out obligation to An, A2 and A (high), individually. Then again, workers challenged these measures by a significant 18 weeks strike. Tragically, decreasing unit expenses to its ideal level may flop at long last. Just in the minor case situation the unit costs are not diminished, different situations anticipate an expansion of 5 to over 25%. Modest power urged Canadian shoppers to expand their acquisition of vitality concentrated customer gadgets. Hydro One needed to adapt to this expanded interest on its maturing resources, so it propelled a functioning protection and request the board program. Along these lines, Hydro One is embraced protection activities, in spite of their unfriendly effect on the companys incomes and profit. Power flexibly is perhaps the greatest hazard; the previous Pikangihum boss even referenced the issue to turn on Christmas lights. The vision that CEO Formusa supported in a key arrangement is to make Hydro One the best transmission and appropriation business in North America. This vision would be accomplished by having the best wellbeing record on the planet, top quartile transmission and circulation unwavering quality, 90% consumer loyalty over all fragments, top quartile worker profitability, working proficiency and an A FICO score. The CEO additionally expected to connect and arrange a drawn out arrangement with the associations. The dangers concerning wellbeing were enormous from 2002 till 2004 however are under increasingly leveled out since 2005. 3. Significant drivers to begin with ERM at Hydro One As a major aspect of the firm’s side project from the past Ontario Hydro and in planning of an IPO, the administration and leading body of Hydro One set significant standards for being a prescribed procedures association with prevalent corporate administration and business direct. In arrangement of the IPO, they reacted to the prerequisite of the Toronto Stock Exchange for recorded organizations to execute key hazard the board. In spite of this IPO had to an end in the Ontario Superior Court, Hydro One kept on following their worth creation methodology including the usage of ERM and a hazard based venture arranging framework. Simultaneously, the administration of Ontario represented another test that must be tended to with a planned deregulation of the power markets including protection activities. Other new approaches in the vitality business like carbon enactment, the reception of inexhaustible advances and environmental change presented new dangers and openings. In a word, the expanded examination on corporate administration required a thorough hazard the executives program. 4. Various phases of Hydro One’s ERM process Hydro One presented a three-stage hazard the board program: In stage one, a hazard supervisory group sorts out a progression of intuitive hazard workshops so as to make the representatives of the firm acquainted with the companies’ key vital targets and the chief dangers looked by the association. Preceding these workshops, the hazard group made a rundown of 60-70 expected dangers or dangers to the business. This rundown was messaged to the taking an interest the board. In light of their input, the hazard group abbreviates the rundown to 8-10 dangers. These shortlisted chances at that point are examined during the workshops. In stage two, the hazard group readies a corporate hazard profile report for the official group two times every year, in January and July. In this report, the chief dangers confronting the association are summed up. The central hazard official leads a progression of coordinated meetings with the best 30 to 40 top administrators to audit the corporate hazard profile. This half-yearly checking and survey of hazard is significant inside the ERM procedure, since dangers don't stay static. In stage 3, during the yearly arranging process, the speculation arranging office and the hazard supervisory group together build up a methodology for distributing assets to organized venture recommendations dependent on the dangers recognized. The CFO contends that taking a gander at venture proposition from a hazard the executives perspective gives high perceivability to capital consumption arranging so as to let the top administration settle on the correct speculation choices. 5. Up-and drawbacks of the ERM procedure Hydro One created venture hazard the board in light of another corporate administration necessity. A positive thing about Hydro One’s ERM process is that it incorporates all layers of the association. Representatives need to take an interest in a progression of workshops to become familiar with the company’s goals and their dangers. The technique that Hydro One applies is organized, efficient and on a convenient premise which are on the whole key standards of hazard the executives. It gives an establishment to all hazard information over the association and conveys perceivability to this information. This has improved responsibility and control inside the organization. A huge advantage of the ERM procedure for Hydro One was that the organization accomplished a lower cost of obligation. Be that as it may, if the organization chooses to change its customer based procedure, it may be shrewd to survey the ERM procedure and roll out some fundamental improvements. The company additionally utilizes the Delphi-strategy, which is an important correspondence method when appropriately utilized. One needs to remember, while applying the Delphi strategy, that the job of the boss may not be disparaged. It is he who needs to revise the information. Subjectivity may assume a job, so it may be shrewd for Hydro One to discover another person than Fraser to deal with the hazard the executives exercises. At long last, ERM is more a perspective than a procedure or procedure. At the point when all layers of the organization have a shared comprehension about the company’s destinations and dangers, one can say the ERM procedure has been effective. Hydro One’s ERM procedure will most likely breeze through this assessment. 6. Structure There are many systems accessible these occasions. Be that as it may, the ISO 31000 Framework is the best practice system since it is moderately simple to actualize in an organization’s structure and still gives some great results for the organization. The Frameworks are utilized to encourage the usage of the ERM procedure into an association. The center of the ISO 31000 Framework is the Risk Management Process (RMP). RMP comprises of five significant errands. Further, the ISO 31000 Framework includes Management Information System (MIS). Hazard the board exercises ought to be recorded. Along these lines, it is simpler to realize which moves are made to counter the hazard dangers. The organization will have the option to respond in a quicker manner to significant changes in factors that could influence the association. Another significant element of the Framework can be found in Commit and Mandate. It is critical to completely intergrate the ERM procedure in the association. Each specialist or partner ought to be engaged with the ERM procedure. Correspondence and counsel are key components in each association. Be that as it may, to execute the ERM procedure, correspondence turns out to be much progressively significant. Speaking with every one of your partners is essential. Everybody should know about the conceivable hazard the organization is confronting and the moves that are made to alleviate these dangers. The following significant procedure of the ISO 31000 Framework is Accountability. For each recognized dangers, the organization should allocate a chief as hazard proprietor. They have to clarify who is answerable for which hazard. Clearly, every operator or partner needs to take part during the time spent countering dangers. Obviously the ERM procedure ought to be observed and assessed persistently. As a result of a quick changing financial world, the ERM procedure ought to be adjusted to these conditions. 6. 1 Establishing the setting Hydro One is attempting to have the option to fulfill the serious need in blistering climate springs and summers. Because of the maturing foundation, Hydro One is confronting high upkeep and developing expenses. While they were intending to present cost-cutting activities they ha

What is Hinduism an Example by

What is Hinduism? Hinduism is a strict conviction seen by a great many individuals everywhere throughout the world. It has been built up a large number of years prior, making it perhaps the most established religion on the planet. (BBC) furthermore, the number of inhabitants in advocates who bolster Hinduism is gigantic, in this way making it the third biggest religion on the planet. (Strict Tolerance) It is said to have started in India, anyway it has not been perceived to any individual dependent on its creation and improvement. (Das) Need exposition test on What is Hinduism? theme? We will compose a custom exposition test explicitly for you Continue Early History of Hinduism Hinduism has been followed to develop during 3000 BCE, and its training have been noticeable in set, for example, Punjab valley, Indus valley, and Mohenjo-Daro among others. The individuals inside these networks rehearsed Hinduism. They likewise have a particular allowance of faith based expectations and practices that were available during their time. For example, strict practices, for example, venerate were done next to the waterways, around flames, and so forth. Be that as it may, time has changed these practices and discovered its approach to learning all the distinctive strict practices previously and combine it to make a solitary strict practice. (BBC) Hinduism was additionally impacted by different religions, for example, Jainism and Buddhism. The development of these religions affected the arrangement of Hinduism later on. After the foundation of Hinduism, a few religions likewise impacted the customs and thoughts that establishes the framework of the religion. For example, Islamic practices, for example, the otherworldly customs and convictions have similar belief systems with that of Hinduism, in spite of their contentions in region and extension. (BBC) Aside from the impacts of different strict groups, Hinduism was additionally affected by Western customs. Ministers endeavored to change over supporters of Hinduism into Christianity. Be that as it may, this lone rankled and tested the Hindu populace, in this way pushing them to reestablish the old Hinduism confidence. The restoration of Hinduism occurred during this time. Old practices and customs were relearned and actualized. (BBC) Convictions and Practices The Hindu practice has confidence in a solitary god, whom they call Brahman. They accept that he was the person who made the universe and all the living things that possess it. Nonetheless, a few groups inside the religion adore various divine beings. Three gatherings are partitioned by the god that they love. For example, one gathering venerates Vishnu. Another gathering loves Shiva. The third gathering reveres a mother goddess, whom they call Shakti. These three divine beings are accepted to be joined in one, and that is Brahman. (BBC) The act of Hindu ceremonies and customs are watched and educated even before the origination and birth of a youngster. For example, there are petitions for guardians with the goal for them to have the option to direct and secure their kids. There are additionally a few functions, for example, the inviting of the recently conceived kid, a service for naming the kid, and even services before the childs ears are pierced or before his hair is trimmed. (BBC) The one of a kind trait of Hinduism is that it trusts in resurrection. They accept that when individuals pass on, they return to the world in a totally extraordinary structure. Also, ones conduct or ethics where anticipate whether one will become a person or thing that is acceptable or alluring in the following life. For example, individuals who have been acting seriously will become unfortunate animals in the following life. While individuals who have regarded themselves and to others will be reflected in ones eternal life. Also, resurrection relies upon the station framework. (Contender Ministries) The point of having confidence in Hinduism and rehearsing their convictions and conventions is to accomplish nirvana. Nirvana is the most elevated condition of being wherein one is loosened from the pattern of resurrection. This happens when one satisfies every one of his obligations and duties to his family and society. Contemplation is likewise instrumental in accomplishing salvation, along these lines prompting interminable harmony and perspective, as typified in the rule of nirvana. Through contemplation, one is freed from numbness and is edified with information and astuteness. In conclusion, the way to nirvana involves altruism and give up. Individuals who practice Hinduism must have the option to submit to the divine beings through love and ceremonies, and having the option to exist in this world inside the way of god. (Contender Ministries) Various Denominations Hinduism has four primary categories and the other three are referenced previously. The divisions of Hinduism depend the god that they adore, the teaching that they follow, and the convictions and customs that they wish to rehearse. For example, the Vaishnavas love Vishnu. They additionally esteem dedication to their god. Shaivas adore the most mainstream god in India who is Shiva. Shaivas rehearses are for the most part dependent on reflection and picking up information. (The Heart of Hinduism) Shaktas revere Shakti, wherein sexual relations is used so as to associate with the god (Dominguez). The tenet of the Shaktas put stock in the intensity of activity that is in doing admirably to other people. The last group of Hinduism is called Smarta. Smartas adore five divine beings. Like the Shaivas, the Smartas esteem information and reflection. (The Heart of Hinduism) The Gods and Godesses Beside the divine beings and the goddesses previously mentioned, Hinduism additionally perceive divine beings and their otherworldly powers. For example, they have faith in Indras. Indras is the lord of tempests who guides warriors in their journey to prevail upon fights. Agni is the lord of fire, and Varuna who is in control over the request and the association of the world. They additionally accept that Varuna is an astute god who consistently looks for reality through good perspectives and thinking. Varuna additionally knows the desires, wants, and puzzles of man. (BBC) Consecrated Texts Like every single other religion, Hinduism additionally has holy messages wherein every one of their convictions, practices, customs, and belief systems are composed. Instances of these holy messages incorporate the Vedas, Upanishads, and Puranas. The Vedas is an old hallowed book, which incorporates all melodies and psalms, serenades and petitions, and customs and ceremonial practices. Like the Vedas, the Upanishads is an old holy book wherein the ways of thinking of Hinduism are talked about. The Upanishads guides man in his journey to accomplish Nirvana and set up an association with Brahman. These will be practiced through persistent petition and reflection. Ultimately, the Puranas contains all data relating to the world. It contains the occasions in the past that prompted the making of the world, and incorporates its devastation. Other hallowed writings, anyway less mainstream than the ones referenced above incorporate The Laws of Manu, The Sacred Laws of the Aryas, The Satapath a Brahmana, and so forth. (John Bruno Hare) Works Cited BBC. (2008). Religion Retrieved from BBC. Walk 23, 2008. http://www.bbc.co.uk/religion/religions/hinduism/ BBC. (2008). Early History. Recovered from BBC. Walk 23, 2008. http://www.bbc.co.uk/religion/religions/hinduism/history/history_1.shtml BBC. (2008). Different Religious Influences. Recovered from BBC. Walk 23, 2008. BBC. (2008). Characters. Recovered from BBC. Walk 23, 2008.

Office Communication Top Ten List Entry #2 COLUMBIA UNIVERSITY - SIPA Admissions Blog

Office Communication Top Ten List Entry #2 COLUMBIA UNIVERSITY - SIPA Admissions Blog This is the second entry in our “Top 10? list for you to consider when communicating with our office and applying. Number 2 Avoid Creating a Duplicate Online Application It is bound to happen, you are going to create an online application and somewhere along the line you are going to lose the user name or password.   Please do not follow the temptation to simply create a new application.   Having multiple applications in the system can lead to problems with tracking documents. Perhaps you have one active application in the system and one that is hibernating (you lost the user name or password) and will never be used.   Our office does not know which is the real application and this may lead to our office tracking different documents to different applications and therefore neither of the applications may reach complete status.   Please contact technical support (see instructions on the application site) if you lose your user name or password and do not succumb to the temptation to create a new application. There is one important footnote.   In some cases SIPA does allow for applications to more than one program.   In this case, applicants will want to create more than one application in the online system and inform our office that they are applying to two different programs by sending an email to sipa_admission@columbia.edu.   Here are some important details.   In examples 2 and 3 below, the same application system is used, but two separate applications must be created. 1. An applicant may not apply to both the MIA and MPA program. 2. An applicant may apply to the MIA or the MPA and to any of the following programs:   PEPM, PESP, MPA-DP, EMPA. 3.   Applicants can also apply for either the MIA or MPA and any one of the international dual degree programs listed here:   an MPA with the London School of Economics, an MPA with Sciences Po, an MPP with Lee Kuan Yew School of Public Policy, an MPP with the Hertie School of Governance. 4. The dual degree MIA program with Sciences Po requires that an application be submitted only through the Sciences Po application site.   If an applicant wishes to apply for the dual MIA degree with Sciences Po and to SIPA, that is fine and would require two applications: 1) one for the dual degree program through the Sciences Po Web site 2) One for the stand alone program at SIPA through our online system. For details on all of our international dual degree programs, visit our international dual degree page.   If applying to a Columbia University dual degree program, you must submit separate applications to each school.   For a list of Columbia dual degree programs click here.